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Indian River County, Florida
<br />Reconciliation of Total Governmental Fund Balances
<br />to Net Position of Governmental Activities
<br />September 30, 2020
<br />Total governmental fund balances
<br />Amounts reported for governmental activities in the statement of net position are different because:
<br />Capital assets used in governmental activities are not financial resources and, therefore, are not reported
<br />in the funds.
<br />Long-term liabilities, including bonds payable ($3,784,945), accrued compensated absences ($14,136,244)
<br />capital leases ($12,133), accrued interest payable ($440), and accrued pollution remediation costs ($1,610,000),
<br />are not due and payable in the current period and, therefore, not reported in the funds.
<br />On the governmental fund statements, a net pension or OPEB plan liability is not recorded until an amount
<br />is due and payable and the plan's fiduciary net position is not sufficient for payment of those benefits. On
<br />the statement of net position, the County's proportionate share of the net pension liability ($167,249,452)
<br />of the cost-sharing defined benefit pension plans in which the County participates is reported. The County's
<br />net OPEB liability ($1,241,122) of the single employer defined benefit plan is also reported on the statement
<br />of net position. Additionally, deferred outflows ($48,089,138) and deferred inflows ($2,547,541) related
<br />to pensions and deferred outflows ($4,460,600) and deferred inflows ($9,343,207) related to OPEB are
<br />also reported.
<br />Special assessments, ambulance services, and state and federal grant receivables, are not available
<br />to pay for current period expenditures and, therefore, are reported as unavailable revenue in the funds.
<br />Accrued interest receivable is not recognized in the current period because the resources are not available
<br />and, therefore, not reported in the funds.
<br />Internal service funds are used by management to charge the costs of certain activities, such as insurance,
<br />fleet, and information technology services, to individual funds. The assets and liabilities of the internal
<br />service funds are included in governmental activities in the statement of net position.
<br />$ 239,406,068
<br />594,610,308
<br />(19,543,762)
<br />(127,831,584)
<br />27,511,246
<br />154,815
<br />24,217,874
<br />Net position of governmental activities $ 738,524,965
<br />The accompanying notes are an integral part of the financial statements.
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