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Indian River County, Florida <br />Board of County Commissioners <br />Notes To Financial Statements <br />Year Ended September 30, 2014 <br />NOTE 11 - LONG-TERM LIABILITIES <br />A. Governmental Long -Term Debt <br />Changes in Long -Term Liabilities <br />Balance <br />October 1, <br />2013 Additions <br />Accrued Compensated Absences: $ 4,178,825 $ <br />Bonds Payable: <br />Limited General Obligation <br />Bonds - 2006 Series 29,265,000 <br />Spring Training Facility <br />Revenue Bonds - 2001 Series 8,145,000 <br />Total Bonds Payable 37,410,000 <br />Grand Total $ 41,588,825 $ <br />Deletions <br />Balance <br />September 30, <br />2014 <br />2,349,301 $ 2,334,332 $ 4,193,794 <br />3,255,000 26,010,000 <br />445,000 7,700,000 <br />3,700,000 33,710,000 <br />2,349,301 $ 6,034,332 $ 37,903,794 <br />Of the $4,193,794 liability for accrued compensated absences, management estimates that $2,219,260 <br />will be due and payable within one year. The long-term liabilities are not reported in the financial <br />statements of the Board since they are not payable from available spendable resources. They are <br />reported in the financial statements of the County. <br />The General Obligation Bonds and Spring Training Facility Revenue Bonds are not reported in the <br />governmental fund statements since they are not current liabilities payable from available spendable <br />resources. They are reported in the government -wide financial statements of the County. Payments on <br />the above general obligation and revenue bonds are made by debt service funds (refer to the Table of <br />Contents for these debt service funds under the category: Combining Balance Sheet and Combining <br />Statement of Revenues, Expenditures and Changes in Fund Balances of Nonmajor Governmental <br />Funds). <br />267 <br />