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Indian River County,Florida
<br /> Notes To Financial Statements
<br /> Year Ended September 30, 2009
<br /> NOTE 6 - CAPITAL ASSETS—Continued
<br /> Depreciation expense, which includes amortization expense on intangible assets, was charged to the
<br /> functions/programs of the primary government's business-type activities as follows:
<br /> Solid Waste Disposal District $ 873,852
<br /> Golf Course 166,602
<br /> County Building 88,095
<br /> County Utilities 14,437,671
<br /> Total depreciation expense—business-type activities 15.566,220
<br /> NOTE 7-RESTRICTED CASH AND CASH EQUIVALENTS AND INVESTMENTS
<br /> Various bond covenants, resolutions, and state regulations require that the County restrict cash and cash
<br /> equivalents and investments within the business-type activities. Restricted cash and cash equivalents
<br /> and investments are as follows:
<br /> Component
<br /> Primary Government Unit
<br /> Solid Waste
<br /> Disposal Golf County Housing
<br /> District Course Utilities Total Authority
<br /> Sinking funds $ - $ 471,264 $ 6,138,439 $ 6,609,703 $ 100,784
<br /> Renewal and replacement 3,347,112 - 39485,928 6,833,040 524,280
<br /> Customer deposits 164,166 - 2,572,052 2,736,218 16,192
<br /> Capital construction - - 20,021,745 20,021,745 -
<br /> Closure and maintenance costs 10,427,975 - - 10,427,975 -
<br /> Tax escrow - - - - 24,000
<br /> Total $ 13,939,253 $ 471,264 $ 32,218,164 $ 46,628,681 $ 665,256
<br /> Cash totaling $14,983,222 is reported as restricted on the Statement of Net Assets for governmental
<br /> activities. Of that amount, $6,983,222 is restricted for current liabilities such as retainage payable,
<br /> accrued interest payable, and the current year portion of bonds payable. The remaining $8,000,000 is
<br /> restricted for future payments to a local aircraft manufacturer as part of an incentive agreement to retain
<br /> the company in Vero Beach.
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