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2017-047
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2017-047
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Last modified
4/12/2017 1:45:26 PM
Creation date
4/12/2017 1:27:56 PM
Metadata
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Template:
Official Documents
Official Document Type
Report
Approved Date
04/11/2017
Control Number
2017-047
Agenda Item Number
8.B.
Entity Name
Indian River County
Subject
Comprehensive Annual Financial Report
Fiscal Year 2015-2016
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Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2016 <br />NOTE 5 - CAPITAL ASSETS — Continued <br />A. Governmental Activities - Continued <br />Depreciation expense, which includes amortization expense on intangible assets, was charged to the <br />functions/programs of the primary government's governmental activities as follows: <br />General government <br />Public safety <br />Physical environment <br />Transportation <br />Economic environment <br />Human service <br />Culture/recreation <br />Court related <br />Capital assets held by the government's internal service funds are <br />charged to the various functions based on their usage of the assets <br />Total depreciation expense — governmental activities <br />4,213,779 <br />4,381,845 <br />626,080 <br />6,918,022 <br />149 <br />113,360 <br />3,739,170 <br />285,967 <br />170,320 <br />20,448,692 <br />In accordance with GASB Statement 42 Accounting and Financial Reporting for Impairment of Capital <br />Assets and for Insurance Recoveries, the County wrote down the value of the County administration <br />buildings A and B in the amount of $1,372,649. This impairment was caused by water intrusion <br />damage to the roofs. The impairment amount is included as a general government expense on the <br />Statement of Activities. The County received a total of $1,200,000 from the general and subcontractors <br />of the County administration buildings. These funds were deposited into the Optional Sales Tax Fund. <br />68 <br />
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