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Indian River County, Florida Sheriff Notes To Financial Statements Year Ended September 30, 2017 NOTE 8 — LONG-TERM LIABILITIES Changes in Long -Term Liabilities The following is a schedule of changes in long-term liabilities as of September 30, 2017: Beginning Balance 10/01/16 Additions Deletions Ending Balance 09/30/17 Accrued Compensated Absences $ 6,375,825 $ 4,104,894 $ 3,611,793 $ 6,868,926 Of the $6,868,926 liability for accrued compensated absences, management estimates that $3,454,880 will be due and payable within one year. The long-term liabilities are not reported in the financial statements of the Sheriff since they are not payable from available spendable resources. They are reported in the County -wide financial statements and County notes. NOTE 9 — OPERATING LEASES The Sheriff has entered into noncancelable operating leases as lessee of a building, hangar, mail machine, and copiers. Lease expenditures totaled $97,274 for the year ended September 30, 2017. The following is a schedule by years of minimum future rentals to be paid by the Sheriff for noncancelable operating leases as of September 30: Year Amount 2018 $ 82,593 2019 45,483 2020 35,343 2021 34,412 2022 7,439 Total Future Minimum Lease Payments $ 205,270 NOTE 10 — COMMITMENTS AND CONTINGENCIES Various suits and claims are currently pending against the Sheriff. It is impossible for the Sheriff to accurately quantify the exposure involved given the jury's latitude in assessing compensatory and punitive damages, and the court's latitude in awarding attorney's fees. The Sheriff intends to vigorously defend against these lawsuits and believes he has a good chance of prevailing on their merits. In the opinion of management and based on the advice of legal counsel, the ultimate disposition of these lawsuits will not have a material adverse effect on the financial position of the Sheriff. 370