Indian River County, Florida
<br />Statement of Net Position
<br />September 30, 2018
<br />Governmental Business -type
<br />Activities Activities
<br />Total
<br />ASSETS
<br />Current assets:
<br />Cash and investments $ 243,629,725 $ 73,201,160 $ 316,830,885
<br />Accounts receivable - net 4,832,241 3,751,114 8,583,355
<br />Internal balances 778,809 (778,809) -
<br />Due from other governments 11,279,409 2,142,182 13,421,591
<br />Interest receivable 949,432 827,373 1,776,805
<br />Inventories 436,536 1,515,109 1,951,645
<br />Prepaid expenses 1,582,174 11,173 1,593,347
<br />Current restricted assets:
<br />Cash and investments 6,018,650 54,554,166 60,572,816
<br />Total current assets 269,506,976 135,223,468 404,730,444
<br />Non-current assets:
<br />Capital assets - non -depreciable 234,899,903 36,755,123 271,655,026
<br />Capital assets - depreciable 686,868,022 475,874,150 1,162,742,172
<br />Capital assets - accumulated depreciation (351,290,909) (296,900,730) (648,191,639)
<br />Non-current restricted assets:
<br />Special assessments receivable 175,151 620,377 795,528
<br />Impact fees receivable 273,956 273,956
<br />Liens receivable 7,738,123 7,738,123
<br />Total non-current assets 570,652,167 224,360,999 795,013,166
<br />Total assets 840,159,143 359,584,467 1,199,743,610
<br />DEFERRED OUTFLOWS OF RESOURCES
<br />Deferred outflows related to pensions 51,812,650 3,425,620 55,238,270
<br />Deferred outflows related to other postemployment benefits 2,427,603 226,096 2,653,699
<br />Deferred amounts on refunding 269,710 862,724 1,132,434
<br />Total deferred outflows of resources 54,509,963 4,514,440 59,024,403
<br />LIABILITIES
<br />Current liabilities (payable from current assets):
<br />Accounts payable 12,934,205 3,877,645 16,811,850
<br />Retainage payable 199,956 199,956
<br />Claims payable 2,530,000 2,530,000
<br />Due to other governments 855,182 90,736 945,918
<br />Other deposits held in escrow 23,047 1,000 24,047
<br />Unearned revenues 728,891 49,079 777,970
<br />Accrued compensated absences 6,270,529 671,627 6,942,156
<br />Pollution remediation costs payable 92,647 - 92,647
<br />Current liabilities (payable from current restricted assets):
<br />Accounts payable - 827,641 827,641
<br />Retainage payable 540,650 183,653 724,303
<br />Accrued interest payable - 62,107 62,107
<br />Customer deposits 666,000 3,322,176 3,988,176
<br />Notes payable 4,227,000 1,025,000 5,252,000
<br />Closure and maintenance costs payable - 8,506,674 8,506,674
<br />Bonds payable 585,000 2,205,000 2,790,000
<br />Total current liabilities 29,453,151 21,022,294 50,475,445
<br />Non-current liabilities:
<br />Accrued compensated absences 5,781,214 338,121 6,119,335
<br />Pollution remediation costs payable 2,029,253 - 2,029,253
<br />Claims payable 5,909,000 - 5,909,000
<br />Net pension liability 121,413,468 8,201,394 129,614,862
<br />Net other postemployment benefits liability 3,159,291 294,240 3,453,531
<br />Notes payable 7,268,000 3,174,000 10,442,000
<br />Closure and maintenance costs payable - 5,608,504 5,608,504
<br />Bonds payable, net of premium and discount 5,080,000 12,345,183 17,425,183
<br />Total non-current liabilities 150,640,226 29,961,442 180,601,668
<br />Total liabilities 180,093,377 50,983,736 231,077,113
<br />DEFERRED INFLOWS OF RESOURCES
<br />Deferred inflows related to pensions
<br />Deferred inflows related to other postemployment benefits
<br />Total deferred inflows of resources
<br />12,931,650
<br />9,714,052
<br />22,645,702
<br />900,838 13,832,488
<br />904,719 10,618,771
<br />1,805,557 24,451,259
<br />NET POSITION
<br />Net investment in capital assets 553,586,726 197,842,084 751,428,810
<br />Restricted for:
<br />Transportation/road projects 24,140,955 24,140,955
<br />Public safety 18,774,267 18,774,267
<br />Court related costs 2,157,218 2,157,218
<br />Housing assistance 927,281 927,281
<br />Capital projects 79,398,595 79,398,595
<br />Beach renourishment 17,105,108 17,105,108
<br />Culture/recreation 9,349,813 9,349,813
<br />Debt service 4,421,410 - 4,421,410
<br />Environmental conservation/preservation 1,281,501 1,281,501
<br />Special assessment projects 1,819,519 - 1,819,519
<br />Unrestricted (deficit) (21,032,366) 113,467,530 92,435,164
<br />Total net position $ 691,930,027 $ 311,309,614 $ 1,003,239,641
<br />The accompanying notes are an integral part of the financial statements.
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