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Indian River County, Florida
<br />Statement of Net Position
<br />September 30, 2020
<br />Governmental Business -type
<br />Activities Activities
<br />Total
<br />ASSETS
<br />Current assets:
<br />Cash and investments $ 284,089,967 $ 69,867,937 $ 353,957,904
<br />Accounts receivable - net 5,149,386 3,333,889 8,483,275
<br />Internal balances 400,527 (400,527)
<br />Due from other governments 28,620,236 743,320 29,363,556
<br />Interest receivable 758,812 717,915 1,476,727
<br />Inventories 527,459 1,461,946 1,989,405
<br />Prepaid expenses 2,044,828 12,308 2,057,136
<br />Current restricted assets:
<br />Cash and investments 1,115,146 45,138,785 46,253,931
<br />Total current assets 322,706,361 120,875,573 443,581,934
<br />Non-current assets:
<br />Capital assets - non -depreciable 261,934,290 51,636,853 313,571,143
<br />Capital assets - depreciable 724,073,336 499,856,779 1,223,930,115
<br />Capital assets - accumulated depreciation (389,805,593) (327,176,924) (716,982,517)
<br />Non-current restricted assets:
<br />Special assessments receivable 163,190 1,560,028 1,723,218
<br />Impact fees receivable 260,846 260,846
<br />Liens receivable 2,527,412 2,527,412
<br />Total non-current assets 596,365,223 228,664,994 825,030,217
<br />Total assets 919,071,584 349,540,567 1,268,612,151
<br />DEFERRED OUTFLOWS OF RESOURCES
<br />Deferred outflows related to pensions 55,220,257 3,651,419 58,871,676
<br />Deferred outflows related to other postemployment benefits 4,519,939 408,330 4,928,269
<br />Deferred charge on refunding 80,055 159,902 239,957
<br />Total deferred outflows of resources 59,820,251 4,219,651 64,039,902
<br />LIABILITIES
<br />Current liabilities (payable from current assets):
<br />Accounts payable 19,911,675 3,924,195 23,835,870
<br />Retainage payable 392,219 392,219
<br />Claims payable 2,649,000 - 2,649,000
<br />Due to other governments 638,634 42,201 680,835
<br />Other deposits held in escrow 23,430 1,000 24,430
<br />Unearned revenues 2,436,402 1,435,277 3,871,679
<br />Accrued compensated absences 6,571,403 816,642 7,388,045
<br />Pollution remediation costs payable 63,533 251,300 314,833
<br />Current liabilities (payable from current restricted assets):
<br />Accounts payable 11,895 11,895
<br />Retainage payable 606,636 - 606,636
<br />Accrued interest payable 440 2,932 3,372
<br />Customer deposits 199,689 3,460,069 3,659,758
<br />Notes payable 1,058,000 1,058,000
<br />Lease payable 3,381 - 3,381
<br />Closure and maintenance costs payable - 1,949,965 1,949,965
<br />Bonds payable 305,000 - 305,000
<br />Total current liabilities 33,409,223 13,345,695 46,754,918
<br />Non-current liabilities:
<br />Accrued compensated absences 7,759,680 307,728 8,067,408
<br />Pollution remediation costs payable 1,546,467 - 1,546,467
<br />Claims payable 5,295,000 - 5,295,000
<br />Net pension liability 175,502,277 11,732,554 187,234,831
<br />Net other postemployment benefits liability 1,254,552 130,088 1,384,640
<br />Notes payable 1,074,000 1,074,000
<br />Lease payable 8,752 8,752
<br />Closure and maintenance costs payable 5,491,706 5,491,706
<br />Bonds payable, net of premium and discount 3,560,000 - 3,560,000
<br />Total non-current liabilities 194,926,728 18,736,076 213,662,804
<br />Total liabilities 228,335,951 32,081,771 260,417,722
<br />DEFERRED INFLOWS OF RESOURCES
<br />Deferred inflows related to pensions
<br />Deferred inflows related to other postemployment benefits
<br />Total deferred inflows of resources
<br />2,568,596
<br />9,462,323
<br />242,261 2,810,857
<br />886,893 10,349,216
<br />12,030,919
<br />1,129,154 13,160,073
<br />NET POSITION
<br />Net investment in capital assets 592,232,052 221,342,196 813,574,248
<br />Restricted for:
<br />Transportation/road projects 26,601,322 26,601,322
<br />Public safety 30,161,671 - 30,161,671
<br />Court related costs 1,385,758 - 1,385,758
<br />Housing assistance 1,397,192 - 1,397,192
<br />Capital projects 94,121,082 - 94,121,082
<br />Beach renourishment 16,129,172 - 16,129,172
<br />Culture/recreation 8,598,384 - 8,598,384
<br />Debt service 627,116 - 627,116
<br />Environmentat conservation/preservation 1,083,205 - 1,083,205
<br />Special assessment projects 1,771,754 - 1,771,754
<br />Unrestricted (deficit) (35,583,743) 99,207,097 63,623,354
<br />Total net position $ 738,524,965 $ 320,549,293 $ 1,059,074,258
<br />The accompanying notes are an integral part of the financial statements.
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