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Indian River County, Florida <br />Reconciliation of Total Governmental Fund Balances <br />to Net Assets of Governmental Activities <br />September 30, 2011 <br />Total governmental fund balances: $ 197,026,127 <br />Amounts reported for governmental activities in the statement of net assets are different because <br />Capital assets used in governmental activities are not financial resources and, therefore, are not reported 544,323,705 <br />in the fund. <br />Long-term liabilities, including bonds payable ($52,428,939), accrued compensated absences ($10,724,684) <br />and pollution remediation costs ($2,569,200) are not due and payable in the current period and, therefore, <br />are not reported in the fund. (65,722,823) <br />Accrued general long-term debt interest expenses are not financial uses and, therefore, are not reported it (448,907) <br />the fund. <br />Special assessment receivables are not financial resources in the current period and, therefore, are reported <br />as unearned revenues. 73,796 <br />Accrued interest on special assessments is not recognized in the current period because the resources ari <br />not available and, therefore, not reported in the fund 123,484 <br />Internal service funds are used by management to charge the costs of certain activities, such as insurance <br />fleet, and geographic information system services, to individual funds. The assets and liabilities of the <br />internal service funds are included in governmental activities in the statement of net assets 25,951,709 <br />Grant revenues are not recognized in the current period because the resources are not available and <br />therefore, are not reported in the fund 959,650 <br />The OPEB asset resulting from contributions in excess of the annual required contribution is not a financia <br />resource and, therefore, is not reported in the funds 189,584 <br />Interest revenues are not recognized in the current period because the resources are not available and, <br />therefore, are not reported in the fund. 137,389 <br />Net assets of governmental activities $ 702,613,714 <br />The accompanying notes are an integral part of the financial statements. <br />22 <br />