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Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2014 <br />NOTE 18 - OPERATING LEASES — Continued <br />A. Future Minimum Lease Receipts - Continued <br />The property being leased is included in the statement of net position governmental activities and <br />business -type activities columns and has a cost of $29,219,029 and a carrying value of $19,972,847. <br />Current year depreciation on property being leased was $492,950. <br />B. Future Minimum Lease Payments <br />The following is a schedule of minimum future rentals to be paid by the County for various non- <br />cancelable operating leases of office space, park land, and office equipment as of September 30, 2014: <br />Year Amount <br />2015 $ 275,207 <br />2016 225,281 <br />2017 126,473 <br />2018 48,909 <br />2019 43,696 <br />2020-2024 7,500 <br />2025-2029 7,500 <br />2030-2034 7,500 <br />2035-2039 5,700 <br />2040-2044 4,500 <br />2045-2049 3,900 <br />2050-2054 3,000 <br />2055-2059 1,800 <br />2060-2064 1,500 <br />2065-2069 1,500 <br />2070-2074 1,500 <br />2075-2076 600 <br />Total future minimum lease payments: $ 766,066 <br />94 <br />