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Indian River County, Florida
<br />Notes To Financial Statements
<br />Year Ended September 30, 2014
<br />NOTE 12 — ACCOUNTS PAYABLE - Continued
<br />The County has not engaged in any short-term debt activity during fiscal year 2014 other than that
<br />listed in Note 9.
<br />Due To Other Governments — Governmental Activities
<br />On August 21, 2012, the County approved a 5 -year payment plan agreement with the State of Florida to
<br />pay back $790,434 in disputed Medicaid billings. Monthly payments began on October 5, 2012. The
<br />County recorded the repayment agreement as a liability, Due to Other Governments, in the government -
<br />wide Statement of Net Position; and at September 30, 2014, the amount due to the State of Florida is
<br />$474,260.
<br />NOTE 13 - LONG-TERM LIABILITIES
<br />A. Changes in Long -Term Liabilities
<br />Long-term liability activity for the year ended September 30, 2014, was as follows:
<br />Governmental Activities:
<br />Bonds payable.
<br />Limited General Obligation Bonds -
<br />Series 2006
<br />Spring Training Facility Revenue Bonds -
<br />Series 2001
<br />Subtotal
<br />Add. Unamortized bonds premium
<br />Total bonds payable
<br />Other liabilities:
<br />Pollution remediation
<br />Claims payable
<br />Due to other governments -Medicaid
<br />Compensated absences
<br />Total other liabilities
<br />Beginning
<br />Balance
<br />$ 29,265,000 $
<br />8,145,000
<br />37,410,000
<br />722,489
<br />38,132.489
<br />Ending
<br />Additions Retirements Balance
<br />Due
<br />Within
<br />One Year
<br />- $ 3,255,000 $ 26,010,000 $ 3,390,000
<br />445,000 7,700,000 470,000
<br />3,700,000
<br />93,224
<br />33,710,000 3,860,000
<br />629,265 -
<br />3,793,224 34,339,265 3,860,000
<br />2,727,400 - 55,600 2,671,800
<br />8,074,000 16,860,869 16,708,324 8,226,545
<br />632,342 - 158,082 474,260
<br />11,304,749 5.746.903 6,423,032 10,628,620
<br />22,738,491 22,607.772 23.345.038 22.001.225
<br />114,480
<br />3,181,891
<br />158,087
<br />5,682,955
<br />9.137.413
<br />Governmental activities long-term liabilities $ 60.870.980 $ 22,607,772 $ 27,138.262 $ 56.340.490 $ 12,997,413
<br />Business -type Activities:
<br />Bonds payable
<br />Water & Sewer Refunding Revenue Bonds -
<br />Series 2005 V $ 17,480,000 $
<br />Series 2009 23.085.000
<br />Subtotal 40,565,000
<br />Add. Unamortized bonds premium 2,455,793
<br />Total bonds payable 43,020,793
<br />Other liabilities:
<br />Landfill closure and maintenance costs 11,011,736
<br />Pollution remediation 10,500
<br />Compensated absences 814,632
<br />Total other liabilities
<br />498,000
<br />1,000
<br />659,389
<br />11,836,868 1,158,389
<br />Business -type activities long-term liabilities $ 54,857,661 $ 1,158,389 $
<br />77
<br />1.605.000 $
<br />1,745,000
<br />3,350,000
<br />236,904
<br />3,586.904
<br />620,464
<br />620,464
<br />4,207,368 $
<br />15,875.000 $ 1,670,000
<br />21,340,000 1,815,000
<br />37,215,000 3,485,000
<br />2.218, 889 -
<br />39,433.889 3.485.000
<br />11,509,736
<br />11,500 5,500
<br />853,557 586,624
<br />12,374,793 592,124
<br />51,808,682 $ 4,077,124
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