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Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2019 <br /> <br />101 <br /> <br />NOTE 14 – OTHER POSTEMPLOYMENT BENEFITS PLAN (OPEB) - Continued <br /> <br />I. OPEB Expense and Deferred Outflows and Inflows of Resources Related to OPEB-Continued <br /> <br />Amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB <br />will be recognized in OPEB expense as follows: <br /> <br />Year Ending <br />September 30 <br />Net Deferred Outflows <br />of Resources <br />2020 $ (826,404) <br />2021 (826,404) <br />2022 (826,406) <br />2023 (875,889) <br />2024 (1,020,377) <br />Thereafter (2,040,756) <br /> Total $ (6,416,236) <br /> <br /> <br />NOTE 15 - LEASES <br /> <br />A. Operating Leases <br /> <br />The County has entered into non-cancelable operating leases, both as lessor and lessee. Lease terms <br />vary from 1 to 99 years. Lease revenues totaled $686,782 and lease expenditures totaled $325,132 for <br />the year ended September 30, 2019. The County also leases other equipment and office facilities as <br />both lessor and lessee on a month-to-month basis. <br /> <br /> 1. Future Minimum Lease Receipts <br /> <br />Year Amount <br /> 2020 $ 724,207 <br /> 2021 689,000 <br /> 2022 632,461 <br /> 2023 604,851 <br /> 2024 535,945 <br />2025-2029 1,984,350 <br />2030-2034 1,021,262 <br />2035-2039 583,481 <br />2040-2044 509,760 <br />2045-2048 115,281 <br />Total future minimum receipts $ 7,400,598 <br />