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Indian River County, Florida
<br />Statement of Net Assets
<br />Proprietary Funds
<br />September 30, 2010
<br />LIABILITIES
<br />Current liabilities (payable from current assets)
<br />Accounts payable
<br />445,966
<br />Business -type Activities - Enterprise Funds
<br />780,081
<br />Governmental
<br />1,317,309
<br />Solid Waste
<br />Retainage payable
<br />-
<br />-
<br />8,680
<br />Activities
<br />8,680
<br />Disposal
<br />Golf
<br />County
<br />County
<br />-
<br />Internal
<br />-
<br />District
<br />Course
<br />Utilities
<br />Building
<br />Total
<br />Service Funds
<br />ASSETS
<br />-
<br />Other deposits
<br />1,000
<br />-
<br />-
<br />Current assets:
<br />Unearned revenues
<br />27,428
<br />-
<br />Cash and cash equivalents
<br />$ 15,637,017 $
<br />31,532 $
<br />30,060,604 $
<br />4,010,287 $
<br />49,739,440 $
<br />28,940,595
<br />Accounts receivable - net
<br />64,286
<br />-
<br />2,775,948
<br />-
<br />2,840,234
<br />1,376,792
<br />Due from other funds
<br />95,331
<br />-
<br />-
<br />118,147
<br />95,331
<br />-
<br />Due from other governments
<br />-
<br />11,300
<br />-
<br />-
<br />11,300
<br />80,895
<br />Interest receivable
<br />22,041
<br />676
<br />545,142
<br />4,460
<br />572,319
<br />25,812
<br />Inventories
<br />-
<br />46,834
<br />904,167
<br />-
<br />951,001
<br />156,198
<br />Prepaid items
<br />-
<br />-
<br />33,333
<br />9,989
<br />33,333
<br />1,144,119
<br />Current restricted assets:
<br />Bonds payable
<br />-
<br />520,000
<br />2,990,000
<br />Cash and cash equivalents
<br />13,005,274
<br />470,822
<br />30,092,298
<br />-
<br />43,568,394
<br />-
<br />Total current assets
<br />28,823,949
<br />561,164
<br />64,411,492
<br />4,014,747
<br />97,811,352
<br />31,724,411
<br />Non-current assets:
<br />-
<br />Total current liabilities
<br />687,433
<br />648,136
<br />11,215,402
<br />85,137
<br />Unamortized bond issuance costs
<br />-
<br />59,595
<br />518,010
<br />-
<br />577,605
<br />-
<br />Deferred amounts on refundings
<br />-
<br />160,823
<br />3,290,249
<br />37,879
<br />3,451,072
<br />57,502
<br />Capital assets - non -depreciable
<br />13,663,976
<br />669,630
<br />15,538,174
<br />622,000
<br />29,871,780
<br />-
<br />Capital assets - depreciable
<br />26,648,557
<br />8,344,069
<br />392,131,045
<br />427,936
<br />427,551,607
<br />939,955
<br />Capital assets - accumulated depreciation
<br />(10,371,948)
<br />(1,930,800)
<br />(168,619,963)
<br />(412,290)
<br />(181,335,001)
<br />(478,130)
<br />Non-current restricted assets:
<br />-
<br />Closure and maintenance costs payable
<br />9,518,736
<br />-
<br />-
<br />Special assessments receivable
<br />Bonds payable - net of unamortized discount/premium
<br />1,568,428
<br />2,627,614
<br />1,568,428
<br />Impact fees receivable
<br />-
<br />Total non-current liabilities
<br />815,573
<br />3,287,493
<br />815,573
<br />57,502
<br />Liens receivable
<br />5,572,905
<br />Total liabilities
<br />1,569,743
<br />3,935,629
<br />1,569,743
<br />142,639
<br />Total non-current assets
<br />29,940,585
<br />7,303,317
<br />246,811,259
<br />15,646
<br />284,070,807
<br />461,825
<br />Total assets
<br />58,764,534
<br />7,864,481
<br />311,222,751
<br />4,030,393
<br />381,882,159
<br />32,186,236
<br />LIABILITIES
<br />Current liabilities (payable from current assets)
<br />Accounts payable
<br />445,966
<br />51,007
<br />780,081
<br />40,255
<br />1,317,309
<br />127,649
<br />Retainage payable
<br />-
<br />-
<br />8,680
<br />-
<br />8,680
<br />-
<br />Claims payable
<br />-
<br />-
<br />-
<br />-
<br />2,351,622
<br />Due to other governments
<br />7,511
<br />2,846,099
<br />4,612
<br />2,858,222
<br />-
<br />Other deposits
<br />1,000
<br />-
<br />-
<br />1,000
<br />Unearned revenues
<br />27,428
<br />-
<br />27,428
<br />Pollution remediation payable
<br />-
<br />-
<br />9,280
<br />-
<br />9,280
<br />Accrued compensated absences
<br />102,041
<br />31,201
<br />301,234
<br />40,270
<br />474,746
<br />21,557
<br />Total current liabilities (payable from current assets)
<br />548,007
<br />118,147
<br />3,945,374
<br />85,137
<br />4,696,665
<br />2,500,828
<br />Current liabilities (payable from restricted assets)
<br />Accounts payable
<br />-
<br />-
<br />1,511,711
<br />-
<br />1,511,711
<br />-
<br />Retainage payable
<br />-
<br />124,900
<br />124,900
<br />Accrued interest payable
<br />9,989
<br />193,710
<br />203,699
<br />Bonds payable
<br />-
<br />520,000
<br />2,990,000
<br />3,510,000
<br />Customer deposits
<br />139,426
<br />-
<br />2,449,707
<br />2,589,133
<br />Total current liabilities (payable from restricted assets)
<br />139,426
<br />529,989
<br />7,270,028
<br />7,939,443
<br />-
<br />Total current liabilities
<br />687,433
<br />648,136
<br />11,215,402
<br />85,137
<br />12,636,108
<br />2,500,828
<br />Non-current liabilities:
<br />Accrued compensated absences
<br />116,481
<br />37,879
<br />341,182
<br />57,502
<br />553,044
<br />25,527
<br />Advance from other funds
<br />-
<br />622,000
<br />-
<br />-
<br />622,000
<br />-
<br />Claims payable
<br />-
<br />-
<br />-
<br />5,547,378
<br />Pollution remediation payable
<br />-
<br />32,320
<br />32,320
<br />-
<br />Closure and maintenance costs payable
<br />9,518,736
<br />-
<br />-
<br />9,518,736
<br />Bonds payable - net of unamortized discount/premium
<br />-
<br />2,627,614
<br />50,026,507
<br />52,654,121
<br />-
<br />Total non-current liabilities
<br />9,635,217
<br />3,287,493
<br />50,400,009
<br />57,502
<br />63,380,221
<br />5,572,905
<br />Total liabilities
<br />10,322,650
<br />3,935,629
<br />61,615,411
<br />142,639
<br />76,016,329
<br />8,073,733
<br />NET ASSETS
<br />Invested in capital assets, net of related debt
<br />Restricted for:
<br />Debt service
<br />Capital projects
<br />Unrestricted
<br />Total net assets
<br />29,940,585 4,096,108 189,322,998 15,646 223,375,337 461,825
<br />43,333 249,167 292,500
<br />- - 27,605,792 - 27,605,792 -
<br />18,501,299 (210,589) 32,429,383 3,872,108 54,592,201 23,650,678
<br />$ 48,441,884 $ 3,928,852 $ 249,607,340 $ 3,887,754 $ 305,865,830 $ 24,112,503
<br />The accompanying notes are an integral part of the financial statements.
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