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Indian River County, Florida
<br />Statement of Net Assets
<br />Proprietary Funds
<br />September 30, 2011
<br />LIABILITIES
<br />Current liabilities (payable from current assets)
<br />Accounts payable
<br />991,593
<br />Business -type Activities - Enterprise Funds
<br />536,528
<br />Governmental
<br />1,561,323
<br />Solid Waste
<br />Retainage payable
<br />-
<br />-
<br />13;769
<br />Activities
<br />13,769
<br />Disposal
<br />Golf
<br />County
<br />County
<br />-
<br />Internal
<br />52,604
<br />District
<br />Course
<br />Utilities
<br />Building
<br />Total
<br />Service Funds
<br />ASSETS
<br />2,395,278
<br />Due to other governments
<br />7,745
<br />2,827,524
<br />11,316
<br />Current assets:
<br />-
<br />Other deposits
<br />1,000
<br />-
<br />-
<br />Cash and cash equivalents
<br />$ 16,272,994 $
<br />132,583 $
<br />34,595,467 $
<br />3,980,050 $
<br />54,981,094 $
<br />30,926,594
<br />Accounts receivable - net
<br />108,294
<br />-
<br />2,770,808
<br />375
<br />2,879,477
<br />1,564,576
<br />Due from other funds
<br />96,850
<br />-
<br />-
<br />-
<br />96,850
<br />-
<br />Due from other governments
<br />-
<br />10,800
<br />-
<br />-
<br />10,800
<br />112,527
<br />Interest receivable
<br />15,633
<br />574
<br />536,308
<br />3,012
<br />555,527
<br />23,392
<br />Inventories
<br />-
<br />54,462
<br />876,259
<br />-
<br />930,721
<br />209,667
<br />Prepaid items
<br />-
<br />-
<br />181,164
<br />-
<br />181,164
<br />1,035,670
<br />Current restricted assets:
<br />Accrued interest payable
<br />8,580
<br />182,787
<br />Cash and cash equivalents
<br />13,490,489
<br />470,664
<br />26,337,729
<br />-
<br />40,298,882
<br />-
<br />Total current assets
<br />29,984,260
<br />669,083
<br />65,297,735
<br />3,983,437
<br />99,934,515
<br />33,872,426
<br />Non-current assets:
<br />Total current liabilities (payable from restricted assets)
<br />127,141
<br />543,580
<br />6,174,165
<br />Unamortized bond issuance costs
<br />-
<br />49,523
<br />477,430
<br />-
<br />526,953
<br />-
<br />Deferred amounts onrefundings
<br />-
<br />134,019
<br />3,029,137
<br />3,163,156
<br />-
<br />Capital assets - non -depreciable
<br />15,940,391
<br />669,630
<br />15,648,928
<br />28,142
<br />32,258,949
<br />27,300
<br />Capital assets - depreciable
<br />21,807,067
<br />8,356,251
<br />397,458,084
<br />426,643
<br />428,048,045
<br />992,942
<br />Capital assets- accumulated depreciation
<br />(7,887,372)
<br />(1,729,813)
<br />(183,132,771)
<br />(421,606)
<br />(193,171,562)
<br />(614,707)
<br />Non-current restricted assets:
<br />5,481,722
<br />Pollution remediation payable
<br />-
<br />47,280
<br />Special assessments receivable
<br />-
<br />Closure and maintenance costs payable
<br />1,256,636
<br />-
<br />1,256,636
<br />Impact fees receivable
<br />Bonds payable -net of unamortized discount/premium
<br />798,541
<br />2,097,243
<br />798,541
<br />Liens receivable
<br />-
<br />Total non-current liabilities
<br />2,133,445
<br />2,878,136
<br />2,133,445
<br />30,512
<br />Total non-current assets
<br />29,860,086
<br />7,479,610
<br />237,669,430
<br />5,037
<br />275,014,163
<br />405,535
<br />Total assets
<br />59,844,346
<br />8,148,693
<br />302,967,165
<br />3,988,474
<br />374,948,678
<br />34,277,961
<br />LIABILITIES
<br />Current liabilities (payable from current assets)
<br />Accounts payable
<br />991,593
<br />26,375
<br />536,528
<br />6,827
<br />1,561,323
<br />215,451
<br />Retainage payable
<br />-
<br />-
<br />13;769
<br />-
<br />13,769
<br />-
<br />Due to other funds
<br />52,604
<br />-
<br />52,604
<br />190,000
<br />Claims payable
<br />-
<br />-
<br />-
<br />-
<br />2,395,278
<br />Due to other governments
<br />7,745
<br />2,827,524
<br />11,316
<br />2,846,585
<br />-
<br />Other deposits
<br />1,000
<br />-
<br />-
<br />1,000
<br />Unearned revenues
<br />28,274
<br />-
<br />28,274
<br />Pollution remediation payable
<br />-
<br />-
<br />17,720
<br />-
<br />17,720
<br />-
<br />Accrued compensated absences
<br />39,934
<br />36,580
<br />526,173
<br />65,146
<br />667,833
<br />22,843
<br />Total current liabilities (payable from current assets)
<br />1,031,527
<br />152,578
<br />3,921,714
<br />83,289
<br />5,189,108
<br />2,823,572
<br />Current liabilities (payable from restricted assets):
<br />Accounts payable
<br />-
<br />-
<br />287,331
<br />-
<br />287,331
<br />-
<br />Retainage payable
<br />-
<br />136,260
<br />136,260
<br />Accrued interest payable
<br />8,580
<br />182,787
<br />191,367
<br />Bonds payable
<br />-
<br />535,000
<br />3,090,000
<br />3,625,000
<br />Customer deposits
<br />127,141
<br />-
<br />2,477,787
<br />2,604,928
<br />Total current liabilities (payable from restricted assets)
<br />127,141
<br />543,580
<br />6,174,165
<br />6,844,886
<br />-
<br />Totalcurrentliabilities
<br />1,158,668
<br />696,158
<br />10,095,879
<br />83,289
<br />12,033,994
<br />2,823,572
<br />Non-current liabilities:
<br />Accrued compensated absences
<br />-
<br />28,142
<br />94,591
<br />30,512
<br />153,245
<br />20,958
<br />Advance from other funds
<br />752,751
<br />-
<br />-
<br />752,751
<br />-
<br />Claims payable
<br />-
<br />-
<br />-
<br />5,481,722
<br />Pollution remediation payable
<br />-
<br />47,280
<br />47,280
<br />-
<br />Closure and maintenance costs payable
<br />10,016,236
<br />-
<br />-
<br />10,016,236
<br />Bonds payable -net of unamortized discount/premium
<br />-
<br />2,097,243
<br />46,699,603
<br />48,796,846
<br />-
<br />Total non-current liabilities
<br />10,016,236
<br />2,878,136
<br />46,841,474
<br />30,512
<br />59,766,358
<br />5,502,680
<br />Total liabilities
<br />11,174,904
<br />3,574,294
<br />56,937,353
<br />113,801
<br />71,800,352
<br />8,326,252
<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 />29,860,086 4,797,844 183,213,775 5,037 217,876,742 405,535
<br />44,583 253,750 298,333
<br />- - 23,931,768 - 23,931,768 -
<br />18;809,356 (268,028) 38,630,519 3,869,636 61,041,483 25,546,174
<br />$ 48,669,442 $ 4,574,399 $ 246,029,812 $ 3,874,673 $ 303,148,326 $ 25,951,709
<br />The accompanying notes are an integral part of the financial statements.
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