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Note <br />Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2013 <br />Page Note <br />1. Summary of Significant Accounting <br />Policies 46 <br />Reporting Entity 46 <br />Measurement Focus and <br />Basis of Accounting 47 <br />Basis of Presentation 50 <br />Assets, Liabilities, Deferred Outflows/ <br />Inflows of Resources, and <br />Net Position or Fund Balances 52 <br />Cash and Cash Equivalents 52 <br />Investments 52 <br />Allowance for Doubtful Accounts 52 <br />Receivables and Payables 53 <br />Inventories 53 <br />Prepaid Items 53 <br />Restricted Net Position 53 <br />Capital Assets 54 <br />Capitalization of Interest 55 <br />Deferred Inflows/Outflows of <br />Resources 55 <br />Unearned Revenues 55 <br />Accrued Compensated Absences 55 <br />Obligation for Bond Arbitrage <br />Rebate 56 <br />Landfill Closure Costs 56 <br />Unamortized Bond Discounts <br />and Premiums 56 <br />Capital Contributions 56 <br />2. Reconciliation of Government -wide <br />and Fund Financial Statements 57 <br />3. Stewardship, Compliance and <br />Accountability 61 <br />Budget and Budgetary Accounting61 <br />4. Cash and Cash Equivalents 62 <br />Deposits 62 <br />Accrued Interest 62 <br />Investments 62 <br />OPEB Trust Investments 66 <br />5. Property Tax Revenues 67 <br />6. Capital Assets 68 <br />45 <br />Page <br />7. Restricted Cash and Cash Equivalents <br />and Investments 71 <br />8. Payable from Restricted Assets 71 <br />9. Interfund Balances 72 <br />10. Interfund Transfers 73 <br />11. Due from Other Governments 74 <br />12. Accounts Payable 74 <br />13. Long-term Liabilities 76 <br />Changes in Long-term Liabilities 76 <br />Governmental Activities 77 <br />Annual Debt Service Payments — <br />Governmental Activities 77 <br />Limited General Obligation Bonds 78 <br />Spring Training Facility Revenue <br />Bonds 78 <br />Business -type Activities 81 <br />Annual Debt Service Payments — <br />Business -type Activities 81 <br />Recreational Revenue Refunding <br />Bonds, Series 2003 82 <br />Water and Sewer Revenue Refunding <br />Bonds, Series 2005 82 <br />Water and Sewer Revenue Refunding <br />Bonds, Series 2009 83 <br />Compensated Absences 84 <br />14. Provision for Closure Costs 84 <br />15. Pollution Remediation 86 <br />16. Pension Plans - <br />Florida Retirement System 87 <br />17. Other Postemployment Benefits Plan89 <br />18. Operating Leases 92 <br />19. Fund Balance 94 <br />20. Fund Balance Deficit 96 <br />21. Net Position 96 <br />22. Risk Management 97 <br />23. Commitments and Contingencies 98 <br />Litigation 98 <br />Contracts and Other <br />Commitments 98 <br />Grants 99 <br />