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Indian River County, Florida <br />Clerk of the Circuit Court and Comptroller <br />Notes To Financial Statements <br />Year Ended September 30, 2017 <br />NOTE 4 — OTHER POSTEMPLOYMENT BENEFITS <br />The Clerk participated in the Indian River County Other Postemployment Benefits Trust (OPEB Trust). <br />The Clerk's 2017 annual contribution of $100,211 was funded by: the Board of County Commissioners <br />in the amount of $16,195; non -court operations in the amount of $13,378; court operations in the amount <br />of $65,550; and special revenue funds in the amount of $5,088. This contribution was considered part of <br />a total contribution determined by the OPEB Trust actuary. Further information on the OPEB Trust can <br />be found in the County -wide financial statements and in the County notes. <br />NOTE 5 — RISK MANAGEMENT <br />Indian River County maintains a risk management program that provides for coverage of risks of loss <br />related to torts, theft of, damage to and destruction of assets, errors or omissions, injuries to employees, <br />natural disasters, and medical and life insurance coverage for employees and their eligible dependents. <br />Various excess catastrophe insurance policies with a commercial carrier are also in force for claims <br />exceeding the amount chargeable against the Self Insurance Fund. The Clerk participated in the <br />County's self-insurance program during the fiscal year at an annual cost of approximately $620,376. <br />Further details of this self-insurance program are discussed in the County -wide financial statements and <br />County -wide note on risk management. <br />NOTE 6 — LONG-TERM LIABILITIES <br />Changes in Long -Term Liabilities <br />The following is a schedule of changes in long-term liabilities as of September 30, 2017: <br />Beginning Ending <br />Balance Balance <br />10/01/16 Additions Deletions 9/30/17 <br />Accrued Compensated Absences $ 272,599 $ 294,372 $ 315,241 $ 251,730 <br />Of the $251,730 liability for accrued compensated absences, management estimates that $75,000 will be <br />due and payable within one year. The long-term liabilities are not reported in the financial statements of <br />the Clerk since they are not payable from available spendable resources. They are reported in the <br />financial statements of the County by the fund which normally pays the personnel service costs of the <br />employee. <br />335 <br />