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Indian River County, Florida <br />Reconciliation of the Statement of Revenues, <br />Expenditures, and Changes in Fund Balances of Governmental Funds <br />to the Statement of Activities <br />For the Year Ended September 30, 2013 <br />Net change in fund balances - total governmental funds $ (11,389,643) <br />Amounts reported for governmental activities in the statement of activities are different because: <br />Governmental funds report capital outlay as expenditures. However, in the statement of <br />activities, the cost of those assets is allocated over their estimated useful lives as <br />depreciation expense. <br />Expenditures for capital assets 26,899,512 <br />Less current year loss on assets (554,631) <br />Less current year depreciation (24,648,996) 1,695,885 <br />Governmental funds do not report capital assets contributed from outside the <br />entity. However, those assets are recognized in the statement of net position <br />and the capital contribution is recognized in the statement of activities. <br />1,478,378 <br />Payments of bond principal, pollution remediation, and medicaid settlement costs are <br />expenditures in the governmental funds, but the payment reduces long-term liabilities <br />in the statement of net position. <br />Bond principal payment 6,050,000 <br />Bond premium payment 93,225 <br />Medicaid settlement 158,092 <br />Pollution remediation costs (114,400) 6,186,917 <br />Changes in accrued compensated absences do not require the use of current financial <br />resources and, therefore, are not reported as expenditures in governmental funds. (297,240) <br />Governmental funds report interest and OPEB expenditures based on when they are paid. <br />The statement of activities reports these expenses as they are incurred. This is the <br />net number of the prior year and current year accrual. <br />Accrued bond interest expense <br />Accrued OPEB expense <br />Some revenues reported in the governmental funds have been recognized as revenues in <br />the prior fiscal year in the statement of activities. <br />Internal service funds are used by management to charge the costs of insurance, fleet and <br />geographic information systems services to individual funds. The net costs of the <br />internal service funds are reported in governmental activities. <br />Governmental funds report non-exchange transactions when the applicable eligibility <br />requirements have been met and resources are available. However, in the statement <br />of activities, non-exchange transactions are recognized when the eligibility requirements <br />are met. This is the net number of the prior year and current year accrual. <br />Some interest revenues reported in the statement of activities do not provide current <br />financial resources, therefore, are not reported as revenues in governmental funds. <br />This is the net number of the prior year and current year accrual. <br />Change in net position of governmental activities <br />31,500 <br />(21,075) <br />The accompanying notes are an integral part of the financial statements. <br />28 <br />10,425 <br />(12,145) <br />974,656 <br />1,890,833 <br />(28,026) <br />$ 510,040 <br />