Laserfiche WebLink
Indian River County, Florida <br /> Notes To Financial Statements <br /> Year Ended September 30, 2015 <br /> NOTE 2 -RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL <br /> STATEMENTS <br /> A. Explanation of Differences Between the Governmental Fund Balance Sheet and the <br /> Government-wide Statement of Net Position <br /> "Total fund balances" of the County's governmental funds, $1.79,084,725 differs from "net position" of <br /> governmental activities, $655,952,976, reported in the statement of net position. This difference <br /> primarily results from the long-term economic focus of the statement of net position versus the current <br /> financial resources focus of the governmental funds balance sheet. <br /> Capital related items <br /> When capital assets (property, plant, equipment, intangibles) that are to be used in governmental <br /> activities are purchased or constructed, the costs of those assets are reported as expenditures in <br /> governmental funds. However, the statement of net position included those capital assets among the <br /> assets of the County as a whole. <br /> Cost of capital assets $ 847,356,990 <br /> Accumulated depreciation ( 297,322,183) <br /> Net Total S 550.034.807 <br /> Long-term debt transactions <br /> Long-term liabilities applicable to the County's governmental activities are not due and payable in the <br /> current period and accordingly are not reported as fund liabilities. All liabilities (both current and long- <br /> term) are reported in the statement of net position. <br /> Balances at September 30, 2015 were: <br /> Bonds payable: <br /> Limited General Obligation Bonds, Series 2006 $ (3,545,000) <br /> Spring Training Facility Bonds, Series 2001 (7,230,000) <br /> Notes payable: <br /> Limited General Obligation Refunding (20,049,000) <br /> Deferred Amount on Refunding - Limited GO Bonds 588,058 <br /> Medicaid settlement payable (316,173) <br /> Pollution remediation payable (2,551,200) <br /> Compensated absences (10,985,483 <br /> Total $ (44,088,798) <br /> 62 <br />