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GENERAL FUND <br />The General Fund is the chief operating fund of the County. The ending fund balance as of <br />September 30, 2017 was $47.4 million. <br />In 2010, the County implemented the Governmental Accounting Standards Board (GASB) <br />Statement 54. The objective of Statement 54 is to provide clearer fund balance classifications that <br />can be more consistently applied and by clarifying the existing governmental fund type definitions. <br />The fund balance classifications used are: <br />• Nonspendable - Amounts that cannot be spent <br />because they are not in spendable form, such as <br />inventory, prepaid items, and advances to other <br />funds. <br />• Restricted - Use of these resources is based on <br />constraints imposed by external parties, such as <br />creditors, grantors, contributors, or laws and <br />regulations. <br />Fund Balance Comparison <br />Nonspendable <br />Restricted <br />Committed <br />Unassigned <br />Total <br />2017 <br />$1,183,875 <br />1,246,278 <br />1,655,789 <br />43,334,507 <br />$47,420,449 <br />2016 <br />$371,121 <br />1,000,000 <br />1,166,830 <br />45,909,787 <br />$48,447,738 <br />• Committed - Amounts that can only be spent by approval by a County ordinance by the Board <br />of County Commissioners. <br />• Unassigned - Amounts in the general fund that do not meet any other fund balance <br />classifications. <br />$52.9 <br />$56.5 $56.8 <br />$55.6 <br />$54.3 <br />$49.9 <br />Fund Balance Trend <br />(in millions as of September 30) <br />$51.7 <br />$50.3 <br />$48.4 <br />$47.4 <br />2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 <br />The Atlantic Ocean from one of Indian River County beaches <br />.14 Photo courteay of Laura McIver- <br />