Laserfiche WebLink
Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2019 <br /> <br />102 <br /> <br />NOTE 15 - LEASES - Continued <br /> <br />A. Operating Leases - Continued <br /> <br />The property being leased is included in the Statement of Net Position governmental activities and <br />business-type activities columns and has a cost of $32,231,874 and a carrying value of $20,748,460. <br />Current year depreciation on property being leased was $645,147. <br /> <br /> 2. Future Minimum Lease Payments <br /> <br />The following is a schedule of minimum future rentals to be paid by the County for various non- <br />cancelable operating leases such as office space and office equipment as of September 30, 2019: <br /> <br />Year Amount <br /> 2020 $ 216,085 <br /> 2021 160,314 <br /> 2022 95,564 <br /> 2023 28,904 <br /> 2024 21,294 <br />2025-2029 25,559 <br />2030-2034 7,500 <br />2035-2039 6,000 <br />2040-2044 4,500 <br />2045-2049 3,900 <br />2050-2054 3,000 <br />2055-2059 1,500 <br />2060-2064 1,500 <br />2065-2069 1,500 <br />2070-2074 1,500 <br />2075-2078 600 <br />Total future minimum lease payments $ 579,220 <br /> <br />B. Capital Lease <br /> <br />The County has entered into a noncancelable capital lease. Assets acquired under this lease totaled <br />$20,855 for the fiscal year ended September 30, 2019. The following is a schedule, by years, of <br />minimum future lease payments to be paid for noncancelable capital leases as of September 30: <br /> <br />Year Amount <br /> 2020 $ 3,592 <br /> 2021 3,592 <br /> 2022 3,592 <br /> 2023 3,592 <br /> 2024 1,796 <br />Total future minimum lease payments $ 16,164 <br /> <br />