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INDIAN RIVER COUNTY, FLORIDA REVENUES AND EXPENDITURES
<br />GOVERNMENTAL FUNDS
<br />)Two major road projects and Moorhen Marsh storm water project under construction
<br />SANDRIDGE GOLF COURSE
<br />As noted previously, the proceeds of the Series 2025 Bonds will be used to finance
<br />various capital improvements at the Sandridge Golf Course (as defined previously, the
<br />"Golf Course"). While the Series 2025 Bonds are payable from the Non -Ad Valorem
<br />Revenues budgeted and appropriated for purposes of payment of the debt service on the
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<br />Fiscal Year Ended September 30
<br />2020
<br />2021
<br />2022
<br />2023
<br />2024
<br />Revenues
<br />Taxes
<br />$140,993,468
<br />$146,296,366
<br />$157,217,271
<br />$175,242,525
<br />$195,115,726
<br />Permits, fees, and special
<br />assessments
<br />17,959,288
<br />23,330,849
<br />$23,217,114
<br />20,992,706
<br />25,246,742
<br />Intergovernmental
<br />33,738,425
<br />63,146,188
<br />56,827,553
<br />61,356,941
<br />64,621,759
<br />Charges for services
<br />17,375,509
<br />19,581,100
<br />20,419,262
<br />20,765,051
<br />20,775,192
<br />Judgments, fines and forfeits
<br />1,398,028
<br />2,152,438
<br />2,017,164
<br />2,570,236
<br />2,173,402
<br />Investment income (loss)
<br />4,718,014
<br />412,332
<br />(6,534,914)
<br />13,687,848
<br />22,140,792
<br />Miscellaneous
<br />8,436,416
<br />9,212,240
<br />13,870,905
<br />8,193,237
<br />8,115,707
<br />Total Revenues
<br />224,619,148
<br />264,131,513
<br />267,034,355
<br />302,808,544
<br />338,189,320
<br />Expenditures
<br />Current:
<br />General government
<br />27,589,352
<br />29,337,151
<br />31,187,792
<br />32,708,746
<br />37,197,965
<br />Public safety
<br />95,448,236
<br />105,546,317
<br />112,550,131
<br />118,661,695
<br />138,465,131
<br />Physical environment
<br />1,719,293
<br />1,879,810
<br />1,296,050
<br />8,977,436
<br />4,697,277
<br />Transportation
<br />26,635, 184
<br />32,328,979
<br />32,577,171
<br />47,982,040
<br />37,848,198
<br />Economic environment
<br />720,010
<br />3,839,633
<br />1,019,817
<br />654,294
<br />603,935
<br />Human service
<br />11,452,394
<br />18,941,495
<br />11,610,851
<br />13,087,901
<br />14,379,990
<br />Culture/recreation
<br />21,671,840
<br />25,514,675
<br />25,769,033
<br />19,955,939
<br />32,804,822
<br />Court related
<br />6,536,101
<br />7,752,380
<br />7,427,472
<br />8,667,414
<br />10,286,765
<br />Debt service:
<br />Principal
<br />7,561,314
<br />308,381
<br />538,630
<br />1,829,064
<br />2,718,080
<br />Interest and fiscal charges
<br />326,053
<br />186,218
<br />196,396
<br />183,761
<br />440,861
<br />Capital projects0)
<br />17,302,374
<br />15,331,717
<br />39,739,177
<br />16,166,045
<br />31,733,910
<br />Total Expenditures
<br />216,962,151
<br />240,966,756
<br />263,912,520
<br />268,874,335
<br />311,176,934
<br />Excess of revenues over (under)
<br />expenditures
<br />7,656,997
<br />23,164,757
<br />3,121,835
<br />33,934,209
<br />27,012,386
<br />Other Financing Sources (Uses)
<br />Transfers in
<br />17,770,231
<br />18,471,273
<br />22,413,038
<br />21,185,007
<br />24,092,189
<br />Transfers out
<br />(18,779,742)
<br />(18,633,526)
<br />(22,551,908)
<br />(21,824,769)
<br />(24,428,116)
<br />Issuance of refunding notes
<br />-
<br />-
<br />-
<br />-
<br />Insurance recoveries
<br />398,872
<br />-
<br />-
<br />11,933
<br />-
<br />Payments to refunded bond escrow
<br />agent
<br />-
<br />-
<br />-
<br />-
<br />-
<br />Lease financings
<br />-
<br />-
<br />663,526
<br />129,229
<br />125,432
<br />SBITA financings
<br />-
<br />-
<br />2,930,877
<br />5,556,543
<br />Debt issuance
<br />-
<br />-
<br />-
<br />24,999,451
<br />Total other financing sources (uses)
<br />(610,639)
<br />(162,253)
<br />524,656
<br />2,432,277
<br />30,345,499
<br />Net change in fund balances
<br />$7,046,358
<br />$23,002,504
<br />$3,646,491
<br />$36,366,486
<br />$57,357,885
<br />Debt service as a percentage of
<br />noncapital expenditures
<br />4.440
<br />0.3%
<br />1.30/,
<br />)Two major road projects and Moorhen Marsh storm water project under construction
<br />SANDRIDGE GOLF COURSE
<br />As noted previously, the proceeds of the Series 2025 Bonds will be used to finance
<br />various capital improvements at the Sandridge Golf Course (as defined previously, the
<br />"Golf Course"). While the Series 2025 Bonds are payable from the Non -Ad Valorem
<br />Revenues budgeted and appropriated for purposes of payment of the debt service on the
<br />39
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