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Indian River County, Florida
<br />Notes To Financial Statements
<br />Year Ended September 30, 2017
<br />NOTE 19 - COMMITMENTS AND CONTINGENCIES - Continued
<br />B. Contracts and Other Commitments
<br />The County has various contracts and commitments outstanding at September 30, 2017. In the General
<br />Fund, contracts are for janitorial services, beach park landscape and custodial maintenance, legislative
<br />consulting services and external auditing services. In the Special Revenue Funds, contracts are for 58th
<br />Avenue pavement reclamation and resurfacing, CR512 westbound resurfacing from Roseland Road to
<br />US Highway 1 and eastbound resurfacing from Easy Street to US Highway 1, courthouse renovations,
<br />45th Street beautification - Phase II, beach profile surveys and monitoring, as well as a variety of other
<br />road paving and drainage projects. In the Capital Projects Fund, contracts are for the administration
<br />buildings roof replacements, Osprey Acres floway and nature preserve, P25 radio system migration
<br />project, intersection improvements at 1st Street SW and 43rd Ave., and several sidewalk and road
<br />improvement projects throughout the County. In the Enterprise Funds, contracts are for the golf course
<br />maintenance, aquifer wells rehabilitation project, north county water and sewer, and various other water
<br />and sewer projects. In the Internal Service Funds, contracts are for actuarial services and GIS oblique
<br />aerial imagery acquisition.
<br />A summary of these projects at September 30, 2017, is as follows:
<br />Remaining
<br />Total Total Paid as of Balance at
<br />Contract Price September 30, 2017 September 30, 2017
<br />General
<br />$ 1,033,383 $
<br />(436,873) $
<br />596,510
<br />Special Revenue
<br />10,900,046
<br />(8,033,002)
<br />2,867,044
<br />Capital Projects
<br />23,308,141
<br />(11,804,003)
<br />11,504,138
<br />Enterprise
<br />9,991,365
<br />(2,872,836)
<br />7,118,529
<br />Internal Service
<br />435,433
<br />(115,311)
<br />320,122
<br />Total
<br />$ 45,668,368 $
<br />(23,262,025) $
<br />22,406,343
<br />C. Grants
<br />Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor
<br />agencies. If any expenditures are disallowed as a result of these audits, the claims for reimbursement to
<br />the grantor agency would become a liability of the County. In the opinion of management, any such
<br />adjustments would not be significant.
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