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Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2010 <br />NOTE 10 - INTERFUND TRANSFERS <br />Interfund transfers for the year ended September 30, 2010, consisted of the following: <br />General Transportation <br />Fund Fund <br />Transfers Out: <br />General Fund <br />Emergency <br />Services District <br />Fund <br />Optional <br />Sales Tax Fund <br />Nonmajor <br />Governmental <br />Funds <br />444,351 <br />341,217 <br />Transfers In: <br />Nonmajor <br />Governmental Internal Service <br />Funds Fund Total <br />$ 8,951,106 $ 181,361 $ 55,017 $ 9,187,484 <br />- 444,351 <br />6,000,000 - 6,000,000 <br />1,083,962 - 1,425,179 <br />Total $ 785,568 $ 8,951,106 $ 7,265,323 $ 55,017 $ 17,057,014 <br />Transfers are used for the following routine purposes: 1) use unrestricted general fund revenues to <br />finance transportation activities which must be accounted for in a special revenue fund, 2) use <br />unrestricted general fund and optional sales tax revenues for beach restoration activities which must be <br />accounted for in another fund, 3) provide matching funds for grants, 4) move revenues from the fund <br />that state law requires to collect them to the fund that state law requires to expend them, and 5) use <br />unrestricted general fund revenues to offset a portion of the salaries and benefits expenses for an <br />employee accounted for in an internal service fund. <br />One non -routine transfer occurred in the amount of $906,191 due to accumulated interest earnings that <br />had to be transferred out of one nonmajor governmental fund, the SHIP Hurricane Housing Recovery <br />Grant Fund, to be utilized in another nonmajor governmental fund, the State Housing Initiatives <br />Partnership Fund, as per State requirements. <br />71 <br />