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Indian River County, Florida
<br />Notes To Financial Statements
<br />Year Ended September 30, 2019
<br />74
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<br />NOTE 10 - LONG-TERM LIABILITIES
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<br />A. Changes in Long-Term Liabilities
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<br />Long-term liability activity for the year ended September 30, 2019, was as follows:
<br /> Due
<br /> Beginning Ending Within
<br /> Balance Additions Retirements Balance One Year
<br />Governmental Activities:
<br />Bonds payable:
<br /> Spring Training Facility Revenue Bonds -
<br /> Series 2001 $ 5,665,000 $ - $ 1,510,000 $ 4,155,000 $ 290,000
<br />Notes from direct borrowings and direct
<br />placements:
<br /> Limited General Obligation Refunding Note 11,495,000 - 4,227,000 7,268,000 4,298,000
<br />Other liabilities:
<br /> Pollution remediation 2,121,900 - 506,600 1,615,300 74,273
<br /> Capital lease - 20,855 5,408 15,447 3,314
<br /> Claims payable 8,439,000 25,995,950 26,180,950 8,254,000 2,600,000
<br /> Compensated absences 12,051,743 7,716,152 7,137,385 12,630,510 6,759,059
<br /> Total other liabilities 22,612,643 33,732,957 33,830,343 22,515,257 9,436,646
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<br />Governmental activities long-term liabilities $ 39,772,643 $ 33,732,957 $ 39,567,343 $ 33,938,257 $ 14,024,646
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<br />Business-type Activities:
<br />Bonds payable:
<br /> Water & Sewer Refunding Revenue Bonds -
<br /> Series 2009 $ 13,520,000 $ - $ 13,520,000 $ - $ -
<br />Add: Unamortized bonds premium 1,030,183 - 1,030,183 - -
<br /> Total bonds payable 14,550,183 - 14,550,183 - -
<br />Notes from direct borrowings and direct
<br />placements:
<br /> Water & Sewer Revenue Refunding Note 4,199,000 - 1,025,000 3,174,000 1,042,000
<br />Other liabilities:
<br /> Landfill closure and maintenance costs 14,115,178 1,495,000 7,455,496 8,154,682 1,250,481
<br /> Compensated absences 1,009,749 823,550 796,207 1,037,092 816,267
<br /> Total notes payable and other liabilities 19,323,927 2,318,550 9,276,703 12,365,774 3,108,748
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<br />Business-type activities long-term liabilities $ 33,874,110 $ 2,318,550 $ 23,826,886 $ 12,365,774 $ 3,108,748
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