|
Indian River County, Florida
<br />Notes To Financial Statements
<br />Year Ended September 30, 2011
<br />NOTE 7 - RESTRICTED CASH AND CASH EQUIVALENTS AND INVESTMENTS
<br />Various bond covenants, resolutions, and state regulations require that the County restrict cash and cash
<br />equivalents and investments within the business -type activities. Restricted cash and cash equivalents
<br />and investments are as follows:
<br />Primary Government
<br />Solid Waste
<br />Disposal Golf County
<br />District Course Utilities Total
<br />Sinking funds $
<br />- $
<br />470,664 $ 6,159,070 $
<br />6,629,734
<br />Renewal and replacement
<br />3,347,112
<br />- 3,485,928
<br />6,833,040
<br />Customer deposits
<br />127,141
<br />- 2,471,418
<br />2,598,559
<br />Capital construction
<br />-
<br />- 14,221,313
<br />14,221,313
<br />Closure and maintenance costs
<br />10,016,236
<br />- -
<br />10,016,236
<br />Total $
<br />13,490,489 $
<br />470,664 $ 26,337,729 $
<br />40,298,882
<br />Cash totaling $14,220,716 is reported as restricted on the Statement of Net Assets for governmental
<br />activities. Of that amount, $6,220,716 is restricted for current liabilities such as retainage payable,
<br />accrued interest payable, and the current year portion of bonds payable. The remaining $8,000,000 is
<br />restricted for future payments to a local aircraft manufacturer as part of an incentive agreement to retain
<br />the company in Vero Beach.
<br />NOTE 8 - PAYABLE FROM RESTRICTED ASSETS
<br />Liabilities payable from the County's business -type activities restricted assets are as follows:
<br />Accounts payable
<br />Retainage payable
<br />Accrued interest payable
<br />Bonds payable (current)
<br />Closure and maintenance
<br />costs payable
<br />Customer deposits
<br />Total
<br />Solid Waste
<br />Disposal Golf
<br />District Course
<br />8,580
<br />- 535,000
<br />County
<br />Utilities
<br />Total
<br />287,331 $
<br />287,331
<br />136,260
<br />136,260
<br />182,787
<br />191,367
<br />3,090,000
<br />3,625,000
<br />10,016,236 - - 10,016,236
<br />127,141 - 2,477,787 2,604,928
<br />$ 10,143,377 $ 543,580 $ 6,174,165 $ 16,861,122
<br />69
<br />
|