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Indian River County, Florida <br />Board of County Commissioners <br />Notes To Financial Statements <br />Year Ended September 30, 2017 <br />NOTE 6 - INTERFUND BALANCES <br />Interfund balances at September 30, 2017, consisted of the following: <br />Receivable Fund Payable Fund Amount <br />General Fund Nonmajor Governmental Funds $ 175,000 <br />General Fund Golf Course Enterprise Fund 339,073 <br />$ 514,073 <br />In January 2016, the General Fund loaned $254,500 to the Golf Course Fund to purchase new golf carts. <br />In September 2017, the General Fund loaned $1,100,000 to the Golf Course Fund for a new irrigation <br />system. The amount reported as due from the Golf Course Fund is the current portion of the scheduled <br />payments due to the General Fund in fiscal year 2018. The remaining amount due from the Golf Course <br />Fund is reported as an interfund advance. The amounts due from the Nonmajor Governmental Funds <br />represent short-term cash loans that will be repaid within the next twelve months. <br />Interfund advance at September 30, 2017, consisted of the following: <br />Receivable Fund <br />General Fund <br />Payable Fund <br />Golf Course Fund <br />Amount <br />$ 912,103 <br />This amount is considered a long-term advance between major funds expected to be paid in fiscal years <br />2019, 2020 and 2021. This amount has been presented as nonspendable on the General Fund Balance <br />Sheet. <br />279 <br />