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<br />30
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<br />Indian River County, Florida
<br />Reconciliation of the Statement of Revenues,
<br />Expenditures, and Changes in Fund Balances of Governmental Funds
<br />to the Statement of Activities
<br />For the Year Ended September 30, 2019
<br />
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<br />Net change in fund balances - total governmental funds $ 18,230,224
<br />
<br />Amounts reported for governmental activities in the statement of activities are different because:
<br />
<br /> Governmental funds report capital outlay as expenditures. However, in the statement of
<br /> activities, the cost of those assets is allocated over their estimated useful lives as
<br /> depreciation expense.
<br /> Expenditures for capital assets 30,982,125
<br /> Less current year loss on assets (7,766)
<br /> Less current year depreciation (21,673,675) 9,300,684
<br />
<br />
<br /> Payments of bond and note principal, pollution remediation, and capital lease costs are
<br /> expenditures in the governmental funds, but the payment reduces long-term liabilities
<br /> in the statement of net position.
<br /> Bond principal payment 1,510,000
<br /> Note principal payment 4,227,000
<br /> Capital lease (16,165)
<br /> Pollution remediation costs 506,600 6,227,435
<br />
<br /> Changes in accrued compensated absences do not require the use of current financial
<br /> resources and, therefore, are not reported as expenditures in governmental funds. (566,422)
<br />
<br /> Governmental funds report interest expenditures based on when they are paid.
<br /> The statement of activities reports these expenses as they are incurred. This is the
<br /> net number of the prior year and current year accrual.
<br /> Deferred amount on refunding amortization expense (18,783)
<br />
<br /> Governmental funds report contributions in defined benefit pension plans as expenditures.
<br /> However, in the statement of activities, the amount contributed to defined benefit pension plans
<br /> reduces future net pension liabilities and is reported as part of deferred outflows of resources. 3,094,931
<br />
<br /> In the statement of activities, pension expense is recorded for the County's proportionate share
<br /> of collective pension expense of the cost-sharing defined benefit plans in which the County
<br /> participates. Also included in the statement of activities is the County's OPEB expense for
<br /> the single employer defined benefit plan. (19,148,691)
<br />
<br /> Internal service funds are used by management to charge the costs of insurance, fleet and
<br /> information technology services to individual funds. The net costs of the
<br /> internal service funds are reported in governmental activities. (1,949,708)
<br />
<br /> Governmental funds report non-exchange transactions when the applicable eligibility
<br /> requirements have been met and resources are available. However, in the statement
<br /> of activities, non-exchange transactions are recognized when the eligibility requirements
<br /> are met. This is the net number of the prior year and current year accrual. (330,045)
<br />
<br /> Some interest revenues reported in the statement of activities do not provide current
<br /> financial resources, therefore, are not reported as revenues in governmental funds.
<br /> This is the net number of the prior year and current year accrual. 11,021
<br />
<br />Change in net position of governmental activities $ 14,850,646
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<br />The accompanying notes are an integral part of the financial statements.
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