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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, 2016
<br />Total governmental fund balances: $ 184,375,594
<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 558,765,236
<br />in the funds.
<br />Long-term liabilities, including bonds payable ($6,253,058), notes payable ($19,706,000),
<br />accrued compensated absences ($10,845,325), medicaid settlement funds payable ($158,087),
<br />accrued pollution remediation costs ($2,445,100), and claims and judgments ($59,500), are not
<br />due and payable in the current period and, therefore, not reported in the funds.
<br />(39,467,070)
<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 ($103,424,294)
<br />of the cost-sharing defined benefit pension plans in which the County participates is reported.
<br />Additionally, deferred outflows ($43,074,254) and deferred inflows ($4,827,814) related to pensions are
<br />also reported in accordance with GASB Statement No. 68. (65,177,854)
<br />Special assessments, 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. 3,658,464
<br />Accrued interest is not recognized in the current period because the resources are not available
<br />and, therefore, not reported in the funds. 108,283
<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. 28,361,647
<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 governmental funds. 734,999
<br />Net position of governmental activities $ 671,359,299
<br />The accompanying notes are an integral part of the financial statements.
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