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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, 2018
<br />Total governmental fund balances: $ 214,129,486
<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 569,878,348
<br />in the funds.
<br />Long-term liabilities, including bonds payable ($5,395,290), notes payable ($11,495,000), accrued
<br />compensated absences ($11,893,769), and accrued pollution remediation costs ($2,121,900), are not
<br />due and payable in the current period and, therefore, not reported in the funds.
<br />On the governmental fund statements, a net pension or OPEB plan liability is not recorded until an amount
<br />is due and payable and the 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 ($120,307,966)
<br />of the cost-sharing defined benefit pension plans in which the County participates is reported. The County's
<br />net OPEB liability ($3,120,266) of the single employer defined benefit plan is also reported on the statement
<br />of net position. Additionally, deferred outflows ($51,346,748) and deferred inflows ($12,812,842) related
<br />to pensions and deferred outflows ($2,397,616) and deferred inflows ($9,594,060) related to OPEB are
<br />also reported.
<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 internal
<br />service funds are included in governmental activities in the statement of net position.
<br />(30,905,959)
<br />(92,090,770)
<br />7,068,118
<br />289,159
<br />23,561,645
<br />Net position of governmental activities $ 691,930,027
<br />The accompanying notes are an integral part of the financial statements.
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