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Indian River County, Florida
<br />Notes To Financial Statements
<br />Year Ended September 30, 2013
<br />NOTE 13 - LONG-TERM LIABILITIES
<br />A. Changes in Long -Term Liabilities
<br />Long-term liability activity for the year ended September 30, 2013, was as follows:
<br />Due
<br />Beginning Ending Within
<br />Balance Additions Retirements Balance One Year
<br />Governmental Activities:
<br />Bonds payable:
<br />Limited General Obligation Bonds - $ 32,385,000 $ - $ 3,120,000 $ 29,265,000 $ 3,255,000
<br />Series 2006
<br />Spring Training Facility Revenue Bonds -
<br />Series 2001 11,075,000 - 2,930,000 8,145,000 445,000
<br />Subtotal 43,460,000 - 6,050,000 37,410,000 3,700,000
<br />Add: Unamortized bonds premium 815,714 - 93,225 722,489
<br />Total bonds payable 44,275,714 - 6,143,225 38,132,489 3,700,000
<br />Other liabilities:
<br />Pollution remediation 2,613,000 114,400 - 2,727,400 120,190
<br />Claims payable 8,074,000 14,396,726 14,396,726 8,074,000 2,197,855
<br />Due to other governments -Medicaid 632,347 - 158,087 474,260 158,092
<br />Compensated absences 10,998,652 6,481,234 6,175,137 11,304,749 5,648,031
<br />Total other liabilities 22,317,999 20,992,360 20,729,950 22,580,409 8,124,168
<br />Governmental activities long-term liabilities
<br />66,593,713 $ 20,992,360 $ 26,873,175 $ 60,712,898 $ 11,824,168
<br />Business -type Activities:
<br />Bonds payable:
<br />Recreational Refunding Revenue Bonds -
<br />Series 2003 $ 2,120,000 $ - $ 2,120,000 $ - $
<br />Water & Sewer Refunding Revenue Bonds -
<br />Series 2005 19,010,000 - 1,530,000 17,480,000 1,605,000
<br />Series 2009 24,760,000 - 1,675,000 23,085,000 1,745,000
<br />Subtotal 45,890,000 - 5,325,000 40,565,000 3,350,000
<br />Add: Unamortized bonds premium 2,692,698 236,905 2,455,793
<br />Less: Unamortized bonds discount (18,129) - (18,129) -
<br />Total bonds payable 48,564,569 - 5,543,776 43,020,793 3,350,000
<br />Other liabilities:
<br />Landfill closure and maintenance costs 10,513,736 498,000 - 11,011,736
<br />Pollution remediation 8,800 1,700 10,500 5,167
<br />Compensated absences 857,137 635,828 678,333 814,632 616,316
<br />Total other liabilities 11,379,673 1,135,528 678,333 11,836,868 621,483
<br />Business -type activities long-term liabilities
<br />$ 59,944,242 $ 1,135,528 $ 6,222,109 $ 54,857,661 $ 3,971,483
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