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Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2011 <br />NOTE 23 - COMMITMENTS AND CONTINGENCIES - Continued <br />B. Contracts and Other Commitments - Continued <br />A summary of these projects at September 30, 2011, is as follows: <br />General <br />Special Revenue <br />Capital Projects <br />Enterprise <br />Internal Service <br />Total <br />C. Grants <br />Total <br />Contract Price <br />$ 1,089,709 $ <br />38,297,381 <br />15,977,924 <br />7,031,103 <br />Total Paid as of <br />September 30, 2011 <br />(908,091) $ <br />(25,545,251) <br />(9,213,629) <br />(4,985,823) <br />Remaining <br />Balance at <br />September 30, 2011 <br />181,618 <br />12,752,130 <br />6,764,295 <br />2,045,280 <br />109,200 (27,300) 81,900 <br />$ 62,505,317 $ (40,680,094) $ 21,825,223 <br />Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor <br />agencies. If any expenditures are disallowed as a result of these audits, the claims for reimbursement to <br />the grantor agency would become a liability of the County. In the opinion of management, any such <br />adjustments would not be significant. <br />NOTE 24 — SUBSEQUENT EVENTS <br />On February 14, 2012 the County approved beginning the process of early payoff of the remaining <br />Land Acquisition General Obligation Bonds, Series 2001. The County approved payment of <br />$3,620,000 from the General Fund on July 1, 2012. These bonds will be called at a 1% redemption fee. <br />97 <br />