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Indian River County, Florida
<br />Notes To Financial Statements
<br />Year Ended September 30, 2014
<br />NOTE 11— DUE FROM OTHER GOVERNMENTS
<br />Governmental Funds
<br />On November 18, 2008, the Board entered into a locally funded agreement with the Florida Department
<br />of Transportation (FDOT) to advance the six-laning of State Road 60 from 82nd Avenue to I-95
<br />(Segment Two). The agreement obligated the Board to pay $14,429,754 to the FDOT. Payment was
<br />made in November 2008 to the FDOT. Funding was from the Optional Sales Tax Fund.
<br />Reimbursement by the FDOT for Segment Two will be in ten quarterly installments over a three-year
<br />period which began in July 2011. Repayments to the Board will include principal and any accumulated
<br />interest earnings that have not been used for supplemental costs of the project.
<br />Optional Sales
<br />Tax Fund
<br />Segment Two Amount Advance Funded $ 14,429,754
<br />Less: Reimbursements received as of 9/30/2014 (11,714,877)
<br />Balance Due from FDOT SR60 Agreement 2,714,877
<br />Additional Funds Due from other governments 2,109,312
<br />Total Due from other governments $ 4,824,189
<br />NOTE 12 — ACCOUNTS PAYABLE
<br />Payables
<br />Payables at September 30, 2014, were as follows:
<br />Governmental Activities:
<br />General
<br />Impact Fees
<br />Secondary Roads Construction
<br />Transportation
<br />Emergency Services
<br />Optional Sales Tax
<br />Other governmental
<br />Total Governmental Activities
<br />Vendors
<br />$ 1,319,558 $
<br />1,325,559
<br />536,329
<br />302,621
<br />129,983
<br />452,272
<br />818,686
<br />$ 4,885,008 $
<br />Salaries and
<br />Benefits
<br />Total
<br />Payables
<br />1,749,589
<br />2,366
<br />6,964
<br />181,303
<br />520,285
<br />55,798
<br />$ 3,069,147
<br />1,327,925
<br />543,293
<br />483,924
<br />650,268
<br />452,272
<br />874,484
<br />2,516,305 $ 7,401,313
<br />Business -Type Activities
<br />Payable from current assets.
<br />Solid Waste $ 879,039 $
<br />Golf Course 2,756
<br />Utilities 1,819,698
<br />Building 31,805
<br />Payable from restricted assets:
<br />Utilities 23,398
<br />Total Business -Type Activities $ 2,756,696 $
<br />76
<br />14,175 $ 893,214
<br />10,629 13,385
<br />191,024 2,010,722
<br />32,436 64,241
<br />23,398
<br />248,264 $ 3,004,960
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