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Indian River County, Florida
<br />Notes To Financial Statements
<br />Year Ended September 30, 2014
<br />NOTE 23 - COMMITMENTS AND CONTINGENCIES - Continued
<br />B. Contracts and Other Commitments - Continued
<br />In the Capital Projects Fund, contracts are for the South County Regional Park Intergenerational
<br />Recreation Facility, PC South Algal Turf Scrubber Nutrient Recovery System, 12th Street and 27th
<br />Avenue intersection improvements, and several sidewalk and road improvement projects throughout the
<br />County. In the Enterprise Funds, contracts are for the Reverse Osmosis Lime Slurry Injection Project,
<br />the West Regional Wastewater Treatment Facility Anaerobic Tanks Odor Control System, Golf Course
<br />Dunes irrigation project, South County Brine Disposal project and various other water and sewer
<br />projects.
<br />A summary of these projects at September 30, 2014, is as follows:
<br />General
<br />Special Revenue
<br />Capital Projects
<br />Enterprise
<br />Internal Service
<br />Total
<br />C. Grants
<br />Total
<br />Contract Price
<br />$ 1,022,490 $
<br />42,450,585
<br />7,055,871
<br />12,779,653
<br />30,000
<br />$ 63,338,599 $
<br />Total Paid as of
<br />September 30, 2014
<br />(414,497) $
<br />(27,854,250)
<br />(5,965,418)
<br />(8,438,093)
<br />(42,672,258) $
<br />Remaining
<br />Balance at
<br />September 30, 2014
<br />607,993
<br />14,596,335
<br />1,090,453
<br />4,341,560
<br />30,000
<br />20,666,341
<br />Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor
<br />agencies. If any expenditures are disallowed as a result of these audits, the claims for reimbursement to
<br />the grantor agency would become a liability of the County. In the opinion of management, any such
<br />adjustments would not be significant.
<br />NOTE 24 — SUBSEQUENT EVENTS
<br />On February 17, 2015, the County approved appropriating $2.7 million from General Fund reserves to
<br />fund legal action against the All Aboard Florida railway project. Funding is anticipated to be $0.5
<br />million in fiscal year 2015 and $1.1 million in fiscal years 2016 and 2017.
<br />100
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