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INDIAN RIVER COUNTY, FLORIDA <br />NOTES TO FINANCIAL STATEMENTS - CONTINUED <br />Year Ended September 30, 1992 <br />1. Summary of Significant Accountina Policies - Continued: <br />Proarietary Funds - Continued <br />Internal Service Funds - The Fleet Management and Self Insurance Internal <br />Service Funds are used to account for the financing of goods and services <br />provided to other departments or agencies of the County, on a cost - <br />reimbursement basis. <br />Fiduciary Funds <br />Trust and AQencv Funds - Trust and Agency Funds are used to account for <br />assets held by the County in a trustee capacity or as an agent for indi- <br />viduals, private organizations, other governments, and/or other funds. <br />These include Agency Funds and an Expendable Trust Fund. <br />Account Groups <br />General Fixed Assets - To account for all fixed assets of the County, <br />except fixed assets of proprietary funds. <br />General Lona -Term Debt - To account for all the outstanding principal <br />balances of general and special obligation bonds, notes, capital leases <br />and compensated absences of the County, except long-term obligations of <br />proprietary funds. <br />C. Measurement Focus <br />Governmental Fund Tvoes, - General, Special Revenue, Debt Service and Capital <br />Projects Funds are accounted for on a "spending" or "financial flow" measurement <br />focus. This means that only current assets and current liabilities are <br />generally included on the balance sheets. Accordingly, the reported unreserved <br />fund balance (net current assets) is considered a measure of available, spend- <br />able or appropriable resources. Governmental Fund Type operating statements <br />present increases (revenues and other financing sources) and decreases (expendi- <br />tures and other financing uses) in net current assets. <br />Pronrietary Fund Tvves - The Enterprise and Internal Service Funds are accounted <br />for on an "income determination• measurement focus. Accordingly, all assets and <br />liabilities are included on the balance sheet, and the reported fund equity <br />(total reported assets less total reported liabilities) provides an indication <br />of the economic net worth of the fund. Operating statements for the Proprietary <br />Fund Types report increases (revenues) and decreases (expenses) in total eco- <br />nomic net worth. <br />Fiduciary Fund Tvaes - The Expendable Trust Fund is accounted for in the same <br />manner as Governmental Funds. The Agency Funds are custodial in nature (assets <br />equal liabilities) and do not involve measurement of results of operations. <br />B-18 <br />