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Indian River County, Florida <br />Board of County Commissioners <br />Notes To Financial Statements <br />Year Ended September 30, 2011 <br />NOTE 7 - INTERFUND BALANCES <br />Interfund balances at September 30, 2011, consisted of the following: <br />Receivable Fund <br />General Fund <br />General Fund <br />General Fund <br />Payable Fund Amount <br />Nonmajor Governmental Funds $ 272,000 <br />Golf Course Enterprise Fund 52,604 <br />Fleet Internal Service Fund 190,000 <br />$ 514,604 <br />In October 2010, the General Fund loaned $ 333,050 to the Golf Course Fund to purchase new golf <br />carts. The amount reported as due from the Golf Course Fund is the current portion of the scheduled <br />payments due to the General Fund in fiscal year 2012. The remaining amount due from the Golf Course <br />Fund is reported as an interfund advance. The amounts due from the Fleet Internal Service Fund and the <br />Nonmajor Governmental Funds represent short-term cash loans that will be repaid within the next <br />twelve months. <br />Interfund advances at September 30, 2011, consisted of the following: <br />Receivable Fund <br />Secondary Roads Construction Fund <br />General Fund <br />Payable Fund Amount <br />Golf Course Fund $ 510,000 <br />Golf Course Fund 242,751 <br />$ 752,751 <br />These amounts are considered long-term advances between major funds expected to be paid over the <br />course of several years. These amounts have been presented as nonspendable on the General and <br />Secondary Roads Construction Funds Balance Sheets. <br />NOTE 8 - INTERFUND TRANSFERS <br />Interfund transfers for the year ended September 30, 2011, consisted of the following: <br />Transfers In: <br />Transportation Nonmajor Internal Service <br />Fund Governmental Funds Fund Total <br />Transfers Out: <br />General Fund $ 7,953,026 $ 116,407 $ 55,298 $ 8,124,731 <br />260 <br />