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Indian River County, Florida
<br /> Reconciliation of Total Governmental Fund Balances
<br /> to Net Position of Governmental Activities
<br /> September 30, 2015
<br /> Total governmental fund balances: $ 179,084,725
<br /> Amounts reported for governmental activities in the statement of net position are different because:
<br /> Capital assets used in governmental activities are not financial resources and,therefore,are not reported 550,034,807
<br /> in the funds.
<br /> Long-term liabilities,including bonds payable($10,186,942),notes payable($20,049,000),
<br /> accrued compensated absences($10,985,483),medicaid settlement funds payable($316,173),
<br /> and accrued pollution remediation costs($2,551,200)are not due and payable in the current period
<br /> and,therefore,are not reported in the funds. (44,088,798)
<br /> On the governmental fund statements,a net pension liability is not recorded until an amount is due and
<br /> payable and the pension plan's fiduciary net position is not sufficient for payment of those benefits.On
<br /> the statement of net position,the County's proportionate share of the net pension liability($57,823,885)
<br /> of the cost-sharing defined benefit pension plans in which the County participates is reported.
<br /> Additionally,deferred outflows($12,025,719)and deferred inflows($14,552,801)related to pensions are
<br /> also reported in accordance with GASB Statement No.68. (60,350,967)
<br /> Special assessment,ambulance services,and state and federal grant receivables are not available to pay for
<br /> current period expenditures and,therefore,are reported as unavailable revenue in the funds. 6,896,862
<br /> Accrued interest is not recognized in the current period because the resources are not available
<br /> and,therefore,not reported in the funds. 70,531
<br /> Internal service funds are used by management to charge the costs of certain activities,such as insurance,
<br /> fleet,and information technology services,to individual funds. The assets and liabilities of the
<br /> internal service funds are included in governmental activities in the statement of net position. 23,390,907
<br /> The OPEB asset resulting from contributions in excess of the annual required contribution is not a financial
<br /> resource and,therefore,is not reported in the funds. 914,909
<br /> Net position of governmental activities $ 655,952,976
<br /> The accompanying notes are an integral part of the financial statements.
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