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INDIAN RIVER COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS - CONTINUED Year Ended September 30, 1992 15. Fund Equity Deficit: The following funds had deficits in retained earnings at September 30, 1992: Fund Deficit Enterprise Fund: Golf Course $161,643 Internal Service Fund: Fleet Management 428,812 The Golf Course began operations during the fiscal year ended September 30, 1987. The retained earnings deficit in the Golf Course Enterprise Fund will be eliminated by anticipated operating income in future periods. The retained earnings deficit in the Fleet Management Internal Service Fund will be eliminated by anticipated operating income in future periods. 16. Risk Management: The County is exposed to various risks of loss related to torts; theft of, damage to and destruction of assets; errors and omissions: injuries to employees; and natural disasters. During a previous fiscal year, the County established a fund to account for risk management called the Self Insurance Fund (an internal service fund). The risk management program began on November 1, 1988. Under this program, the Self Insurance Fund provides coverage for up to a maximum of $100,000 for each worker's compensation claim, $100,000 for each general or auto liability claim, $100,000 for each property damage claim, and $25,000 for each errors or omissions claim. In addition, an aggregate lose fund was established of $600,000. As of November 1, 1989, the County's risk retention amounts were increased to $200,000 for each worker's compensation claim and as of October 1, 1989 $500,000 for each general or auto liability claim. Risk retention was decreased to $10,000 for each property damage claim and stayed the same for errors or omissions. The aggregate loss fund was increased to $1,000,000. The County purchases commercial insurance for claims in excess of coverage provided by the Fund and for all other risks of loss. H-57