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Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2016 <br />NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — Continued <br />C. Basis of Presentation - Continued <br />1. Governmental Major Funds - Continued <br />Transportation. Fund — The Transportation Fund accounts for expenditures incurred for the maintenance <br />and repair of County roads. Financing is provided by the 5th and 6th cent gas taxes, county gas tax and <br />transfers from the General Fund. <br />Emergency Services District Fund — The Emergency Services District Fund accounts for the <br />expenditures of providing fire protection and advanced life support to the County. Financing is <br />provided by ad valorem taxes. <br />Optional Sales Tax Fund — The Optional Sales Tax Fund accounts for revenues generated by the local. <br />option one -cent sales tax and some capital grants that use the local option one -cent sales tax as <br />matching funds. Monies are used for various capital projects. <br />2. Proprietary Major Funds <br />Solid Waste Disposal District Fund — The Solid Waste Disposal District Fund accounts for the <br />revenues, expenses, assets and liabilities associated with the County landfill. <br />Golf Course Fund — The Golf Course Fund accounts for the revenues, expenses, assets and liabilities <br />associated with the Golf Course. <br />County Utilities Fund — The County Utilities Fund accounts for the revenues, expenses, assets and <br />liabilities associated with the County water and sewer system. <br />County Building Fund — The County Building Fund accounts for revenues, expenses, assets and <br />liabilities associated with the County building permit and inspection program. <br />3. Other Fund Types <br />Internal Service Funds — Internal Service Funds account for Fleet Management, Self Insurance and <br />Information Technology services provided to other departments of the County on a cost reimbursement <br />basis. <br />Agency Fund - The Agency Fund is used to account for assets held in a custodial capacity by the <br />County for other governmental units, other funds, individuals and businesses. Examples include payroll <br />deductions, self insurance premiums, and developer escrow funds. <br />Other Postemployment Benefits Trust Fund — The Other Postemployment Benefits Trust Fund (Trust) <br />accounts for activities of the Trust, which accumulates resources for health insurance benefit payments <br />for current retirees and for current employees upon their retirement. Contributions are recorded when <br />earned and benefit payments and refunds when incurred within each year. <br />53 <br />