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Indian River County,Florida <br /> Notes To Financial Statements <br /> Year Ended September 30, 2009 <br /> NOTE 2 -RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL <br /> STATEMENTS- Continued <br /> B. Explanation of Differences Between Governmental Fund Operating Statements and the <br /> Statement of Activities-Continued <br /> Long-term debt transactions—Continued <br /> Some expenses reported in the statement of activities do not require the use of current financial <br /> resources;therefore, are not reported as expenditures in governmental funds. <br /> Net change in compensated absences $(2.874.0431 <br /> Special assessment revenues <br /> Revenues collected on special assessments are reported in the governmental funds. However, in the <br /> statement of activities,the assessment revenues are recognized when they are earned. <br /> Special assessment revenues $ (81,200) <br /> Internal service funds operating gain <br /> The assets and liabilities of the internal service funds are included in governmental activities in the <br /> statement of net assets because they primarily serve governmental activities of the County. The net <br /> costs of the internal service funds are reported with governmental activities. <br /> Internal service funds operating gain73 <br /> Accrued Grant revenues <br /> Some grant revenues are not recognized in the current period because the resources are not available; <br /> therefore,these revenues are not reported in the fund. This number is a net number of prior year accrual <br /> and current year accrual. <br /> Net accrued grant revenues $ (3,137.3M <br /> Accrued interest revenues <br /> Some interest revenues are not recognized in the current period because the resources are not available; <br /> therefore,these revenues are not reported in the fund. This number is a net number of prior year accrual <br /> and current year accrual. <br /> Net accrued interest revenues 57 <br /> Reclassification and Eliminations <br /> The general fund recognizes revenues in the amount of $2,728,095 for the general administrative <br /> charges to the general government, public safety, transportation, culture/recreation, and court related <br /> functions. These revenues and expenditures must be eliminated to avoid double counting. Transfers in <br /> and transfers out in the amount of$14,366,145 between governmental activities should be eliminated. <br /> Capital projects costs in the amount of $10,435,212 must be distributed to the related expenditure <br /> functions. <br /> 56 <br />