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Indian River County, Florida <br />Statement of Revenues, Expenses, and Changes in Fund Net Position <br />Proprietary Funds <br />For the Year Ended September 30, 2013 <br />Business -type Activities - <br />Solid Waste <br />Disposal Golf <br />District Course <br />OPERATING REVENUES <br />Charges for services $ 9,998,410 $ 3,072,332 <br />Charges for services pledged as <br />security for revenue bonds <br />Total operating revenues 9,998,410 3,072,332 <br />OPERATING EXPENSES <br />Personal services 505,556 497,147 <br />Material, supplies, services and <br />other operating 9,058,346 1,704,741 <br />Depreciation 840,661 122,648 <br />Total operating expenses 10,404,563 2,324,536 <br />Operating income (loss) <br />(406,153) 747,796 <br />NONOPERATING REVENUES (EXPENSES) <br />Interest income 85,812 2,555 <br />Interest income pledged as <br />security for revenue bonds - <br />Gain on disposal of equipment 430 <br />Interest expense (87,645) <br />Bond amortization expense (125,344) <br />Loss on disposal of equipment (580) - <br />Total nonoperating revenues (expenses) 85,232 (210,004) <br />Income (loss) before transfers and <br />capital contributions <br />Capital contributions <br />Transfers <br />(320,921) 537,792 <br />Change in net position (320,921) 537,792 <br />Total net position - beginning <br />Total net position - ending <br />47,862,026 5,286,925 <br />$ 47,541,105 $ 5,824,717 <br />The accompanying notes are an integral part of the financial statements. <br />36 <br />