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Indian River County, Florida Supervisor of Elections Notes To Financial Statements Year Ended September 30, 2017 NOTE 4 — OTHER POSTEMPLOYMENT BENEFITS The Supervisor of Elections participated in the Indian River County Other Post Employment Benefit Trust (OPEB Trust). The Supervisor of Election's 2017 annual contribution of $12,410 was funded by the Board of County Commissioners as part of a total contribution determined by the OPEB Trust actuary. Further information on the OPEB Trust can be found in the County -wide financial statements and County notes. NOTE 5 — RISK MANAGEMENT Indian River County maintains a risk management program that provides for coverage of risks of loss related to torts, theft of, damage to and destruction of assets, errors or omissions, injuries to employees, natural disasters, and medical and life insurance coverage for employees and their eligible dependents. Various excess catastrophe insurance policies with a commercial carrier are also in force for claims exceeding the amount chargeable against the Self Insurance Fund. The Supervisor of Elections participated in the County's self-insurance program during fiscal year 2017 at an annual cost of approximately $71,547. NOTE 6 — 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 Ending Balance Balance 10/1/2016 Additions Deletions, 9/30/2017 Accrued Compensated Absences $ 25,023 $ 30,995 $ 32,358 $ 23,660 Of the $23,660 liability for accrued compensated absences, management estimates that $10,468 will be due and payable within one year. The liability for accrued compensated absences is not reported in the financial statements of the Supervisor of Elections since it is not payable from available spendable resources. The liability is reported in the financial statements of the County. k:.