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Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2011 <br />NOTE 1— SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES — Continued <br />A. Reporting Entity — Continued <br />Blended Component Units <br />Solid Waste Disposal District (SWDD) — Created pursuant to County Ordinance 87-67, the Board of <br />County Commissioners serves as the Board for the SWDD and sets the non ad valorem assessment fees <br />for the SWDD. Although legally separate, the SWDD is appropriately blended as a proprietary fund <br />type (enterprise) component unit into the primary government. <br />Emergency Services District (EMS) — Created pursuant to County Ordinance 90-25, the Board of <br />County Commissioners serves as the Board for the EMS and sets the millage rate for the EMS. <br />Although legally separate, the EMS is appropriately blended as a governmental fund type (special <br />revenue) component unit into the primary government. <br />B. Measurement Focus and Basis of Accounting <br />The basic financial statements of the County are composed of the following: <br />• Government -wide financial statements <br />• Fund financial statements <br />• Notes to the financial statements <br />1. Government -wide Financial Statements <br />Government -wide financial statements display information about the reporting government as a whole, <br />except for its fiduciary activities. These statements include separate columns for the governmental and <br />business -type activities of the primary government (including its blended component units). <br />Governmental activities, which normally are supported by taxes and intergovernmental revenues, are <br />reported separately from business -type activities, which rely, to a significant extent, on fees and charges <br />for support. <br />Government -wide financial statements are reported using the economic resources measurement focus <br />and the accrual basis of accounting, as are the proprietary fund financial statements. Under the accrual <br />basis of accounting, revenues, expenses, gains, losses, assets, and liabilities resulting from exchange <br />and exchange -like transactions are recognized when the exchange takes place. Revenues, expenses, <br />gains, losses, assets, and liabilities resulting from nonexchange transactions are recognized in <br />accordance with the requirements of GASB Statement 33 — Accounting and Financial Reporting for <br />Nonexchange Transactions. <br />W <br />