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V
<br />INDIAN RIVER COUNTY, FLORIDA
<br />COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION
<br />ALL PROPRIETARY FUND TYPES
<br />Year Ended September 30, 1988
<br />Applications of Working Capital:
<br />Increase in
<br />restricted assets
<br />INTERNAL
<br />- 13,424,914
<br />Acquisition
<br />of fixed assets
<br />SERVICE
<br />TOTALS
<br />Increase in
<br />other assets
<br />(FLEET
<br />(MEMORANDUM
<br />Decrease in
<br />ENTERPRISE
<br />MANAGEMENT)
<br />ONLY)
<br />Sources of Working Capital:
<br />notes payable
<br />700,000
<br />- 700,000
<br />From operations:
<br />revenue bonds payable
<br />1,463,028
<br />1,463,028
<br />Net income (loss) before extraordinary item
<br />$ (194,234)
<br />$ (23,452)
<br />$ (217,686)
<br />Add expenses not creating current
<br />(30,641)
<br />-
<br />(30,641)
<br />liabilities or using current assets -
<br />(354,660)
<br />2,937
<br />(351,723)
<br />depreciation and amortization
<br />1,435,079
<br />24,401
<br />1,459,480
<br />Working capital provided from
<br />5(1.150,919)
<br />S (16,599)
<br />S(1,167,518)
<br />operations exclusive of extra-
<br />ordinary item
<br />1,240,845
<br />949
<br />1,241,794
<br />Extraordinary item
<br />77,069
<br />-
<br />77,069
<br />Disposal of fixed assets net of
<br />accumulated depreciation
<br />5,273
<br />-
<br />5,273
<br />Increase in current liabilities payable
<br />from restricted assets
<br />4,259,489
<br />-
<br />4,259,489
<br />Increase in other liabilities
<br />108,610
<br />294
<br />108,904
<br />Increase in capital leases
<br />36,750
<br />-
<br />36,750
<br />Increase in notes payable
<br />1,006,554
<br />-
<br />1,006,554
<br />Increase in bond anticipation notes payable
<br />9,200,000
<br />-
<br />9,200,000
<br />Increase in revenue bonds payable
<br />8,240,000
<br />-
<br />8,240,000
<br />Increase in contributions
<br />4,312,571
<br />500
<br />4,313,071
<br />Total sources of working capital
<br />28,487,161
<br />1,743
<br />28,488,904
<br />Applications of Working Capital:
<br />Increase in
<br />restricted assets
<br />13,424,914
<br />- 13,424,914
<br />Acquisition
<br />of fixed assets
<br />13,683,963
<br />18,342 13,702,305
<br />Increase in
<br />other assets
<br />323,701
<br />- 323,701
<br />Decrease in
<br />capital leases
<br />42,474
<br />- 42,474
<br />Decrease in
<br />notes payable
<br />700,000
<br />- 700,000
<br />Decrease in
<br />revenue bonds payable
<br />1,463,028
<br />1,463,028
<br />Total applications of working capital
<br />29,638,080
<br />18,342 29,656,422
<br />Net Increase (Decrease) in Working Capital S(1,150.919) S (16,599) S(1.167,518)
<br />Component Elements of Net Increase
<br />(Decrease) in Working Capital:
<br />Equity in pooled cash and investments
<br />S (510,300)
<br />S (17,903)
<br />S (528,203)
<br />Accounts receivable - net
<br />182,797
<br />4,274
<br />187,071
<br />Other receivables
<br />(31,890)
<br />-
<br />(31,890)
<br />Inventories
<br />28,189
<br />(5,907)
<br />22,282
<br />Deficit in equity in pooled cash and
<br />investments
<br />(30,641)
<br />-
<br />(30,641)
<br />Accounts payable
<br />(354,660)
<br />2,937
<br />(351,723)
<br />Other liabilities
<br />(434,414)
<br />-
<br />(434,414)
<br />Net Increase (Decrease) in Working Capital
<br />5(1.150,919)
<br />S (16,599)
<br />S(1,167,518)
<br />The accompanying notes are an integral part of the financial statements.
<br />13.
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