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Indian River County, Florida
<br />Notes To Financial Statements
<br />Year Ended September 30, 2020
<br />NOTE 10 - LONG-TERM LIABILITIES
<br />A. Changes in Long -Term Liabilities
<br />Long-term liability activity for the year ended September 30, 2020, 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 $ 4,155,000 $ - $ 290,000 $ 3,865,000 $ 305,000
<br />Notes and leases from direct borrowings and
<br />direct placements:
<br />Limited General Obligation Refunding Note 7,268,000 7,268,000 -
<br />Capital lease 15,447 3,314 12,133 3,381
<br />Total notes and teases from direct
<br />borrowings and direct placements 7,283,447 7,271,314 12,133 3,381
<br />Other liabilities:
<br />Pollution remediation 1,615,300 - 5,300 1,610,000 63,533
<br />Claims payable 8,254,000 23,627,530 23,937,530 7,944,000 2,649,000
<br />Compensated absences 12,630,510 8,180,489 6,479,916 14,331,083 6,571,403
<br />Total other liabilities 22,499,810 31,808,019 30,422,746 23,885,083 9,283,936
<br />Governmental activities long-term liabilities $ 33,938,257
<br />$
<br />31,808,019
<br />$
<br />37,984,060 $ 27,762,216 $ 9,592,317
<br />Business -type Activities:
<br />Notes from direct borrowings and direct
<br />placements:
<br />Water & Sewer Revenue Refunding Note $ 3,174,000 $ - $ 1,042,000 $ 2,132,000 $ 1,058,000
<br />Other liabilities:
<br />Pollution remediation 251,300 251,300 251,300
<br />Landfill closure and maintenance costs 8,154,682 1,515,017 2,228,028 7,441,671 1,949,965
<br />Compensated absences 1,037,092 850,868 763,590 1,124,370 816,642
<br />Total notes payable and other liabilities 12,365,774 2,617,185 4,033,618 10,949,341 4,075,907
<br />Business -type activities long-term liabilities $
<br />12,365,774 $ 2,617,185 $ 4,033,618
<br />76
<br />$
<br />10,949,341 $ 4,075,907
<br />
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