2015-063-63A - Laserfiche WebLink

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Indian River County, Florida Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities For the Year Ended September 30, 2014 Net change in fund balances - total governmental funds Amounts reported for governmental activities in the statement of activities are different because: Governmental funds report capital outlay as expenditures. However, in the statement of activities, the cost of those assets is allocated over their estimated useful lives as depreciation expense. Expenditures for capital assets 27,952,771 Less current year loss on assets (45,603) Less current year depreciation (19,715,820) $ 854,114 8,191,348 Payments of bond principal, pollution remediation, and medicaid settlement costs are expenditures in the governmental funds, but the payment reduces long-term liabilities in the statement of net position. Bond principal payment 3,700,000 Bond premium payment 93,224 Medicaid settlement 158,082 Pollution remediation costs 55,600 4,006,906 Changes in accrued compensated absences do not require the use of current financial resources and, therefore, are not reported as expenditures in governmental funds. 727,555 Governmental funds report interest and OPEB expenditures based on when they are paid. The statement of activities reports these expenses as they are incurred. This is the net number of the prior year and current year accrual. Accrued bond interest expense Accrued OPEB expense Some revenues reported in the governmental funds have been recognized as revenues in the prior fiscal year in the statement of activities. Internal service funds are used by management to charge the costs of insurance, fleet and information technology services to individual funds. The net costs of the internal service funds are reported in governmental activities. Governmental funds report non-exchange transactions when the applicable eligibility requirements have been met and resources are available. However, in the statement of activities, non-exchange transactions are recognized when the eligibility requirements are met. This is the net number of the prior year and current year accrual. Some interest revenues reported in the statement of activities do not provide current financial resources, therefore, are not reported as revenues in governmental funds. This is the net number of the prior year and current year accrual. 40,387 494,761 535,148 (8,510) (1,964,753) (423,777) 4,246 Change in net position of governmental activities $ 11,922,277 The accompanying notes are an integral part of the financial statements. 30