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Indian River County, Florida
<br />Reconciliation of Total Governmental Fund Balances
<br />to Net Position of Governmental Activities
<br />September 30, 2017
<br />Total governmental fund balances:
<br />Amounts reported for governmental activities in the statement of net position are different because:
<br />Capital assets used in governmental activities are not financial resources and, therefore, are not reported
<br />in the funds.
<br />Long-term liabilities, including bonds payable ($5,839,174), notes payable ($15,653,000),
<br />accrued compensated absences ($11,288,621), and accrued pollution remediation costs ($2,119,700),
<br />are not due and payable in the current period and, therefore, not reported in the funds.
<br />On the governmental fund statements, a net pension liability is not recorded until an amount is due and
<br />payable and the pension plan's fiduciary net position is not sufficient for payment of those benefits. On
<br />the statement of net position, the County's proportionate share of the net pension liability ($119,062,412)
<br />of the cost-sharing defined benefit pension plans in which the County participates is reported.
<br />Additionally, deferred outflows ($53,570,662) and deferred inflows ($8,088,748) related to pensions are
<br />also reported in accordance with GASB Statement No. 68.
<br />Special assessments, ambulance services, state and federal grant receivables, and insurance recoveries
<br />are not available to pay for current period expenditures and, therefore, are reported as unavailable
<br />revenue in the funds.
<br />Accrued interest is not recognized in the current period because the resources are not available
<br />and, therefore, not reported in the funds.
<br />Internal service funds are used by management to charge the costs of certain activities, such as insurance,
<br />fleet, and information technology services, to individual funds. The assets and liabilities of the
<br />internal service funds are included in governmental activities in the statement of net position.
<br />Net position of governmental activities
<br />The accompanying notes are an integral part of the financial statements.
<br />26
<br />$ 189,977,689
<br />563,779,741
<br />(34,900,495)
<br />(73,580,498)
<br />15,000,169
<br />122,444
<br />31,316,731
<br />$ 691,715,781
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