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<br />26
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<br />Indian River County, Florida
<br />Reconciliation of Total Governmental Fund Balances
<br />to Net Position of Governmental Activities
<br />September 30, 2019
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<br />Total governmental fund balances $ 232,359,710
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<br />Amounts reported for governmental activities in the statement of net position are different because:
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<br />Capital assets used in governmental activities are not financial resources and, therefore, are not reported 579,179,032
<br />in the funds.
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<br />Long-term liabilities, including bonds payable ($4,067,667), notes payable ($7,104,406), accrued compensated
<br />absences ($12,460,191), capital leases ($15,447), accrued interest payable ($718), and accrued pollution
<br />remediation costs ($1,615,300), are not due and payable in the current period and, therefore, not reported in the
<br />funds. (25,263,729)
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<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 ($137,060,394)
<br />of the cost-sharing defined benefit pension plans in which the County participates is reported. The County's
<br />net OPEB liability ($2,433,151) of the single employer defined benefit plan is also reported on the statement
<br />of net position. Additionally, deferred outflows ($47,095,149) and deferred inflows ($9,961,298) related
<br />to pensions and deferred outflows ($2,599,483) and deferred inflows ($8,384,319) related to OPEB are
<br />also reported. (108,144,530)
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<br />Special assessments, ambulance services, and state and federal grant receivables, are not available
<br />to pay for current period expenditures and, therefore, are reported as unavailable revenue in the funds. 6,738,073
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<br />Accrued interest receivable is not recognized in the current period because the resources are not available
<br />and, therefore, not reported in the funds. 300,180
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<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. 21,611,937
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<br />Net position of governmental activities $ 706,780,673
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<br />The accompanying notes are an integral part of the financial statements.
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