1996-042 - Laserfiche WebLink

Home Browse Search

Indian River County, Florida NOTES TO FINANCIAL STATEMENTS - Continued Year Ended September 30,1995 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued A. Reporting Entity - Continued financial benefits to, or impose specific financial burdens on, the County. The County may be financially accountable if an organization is fiscally dependent on the County regardless of whether the organization has (a) a separately elected governing board, (b) a governing board appointed by a higher level of government, or (c) a jointly appointed board. Based on these criteria, County management examined all organizations which were legally separate in order to determine which organizations, if any, should be included in the County's financial statements. Management determined that the Solid Waste Disposal District, the Emergency Services District, and the Indian River County Housing Authority were the only organizations that should be included in the County's financial statements as component units. Solid Waste Disposal District (SWDD) - Created pursuant to County Ordinance 87-67, the Board of County Commissioners serves as the Board for the SWDD and sets the non ad valorem assessment fees for the SWDD. Although legally separate, the SWDD is appropriately blended as a proprietary fund type (enterprise) component unit into the primary government. Emergency Services District (EMS) - Created pursuant to County Ordinance 90-25, the Board of County Commissioners serves as the Board for the EMS and sets the millage rate for the EMS. Although legally separate, the EMS is appropriately blended as a governmental fund type (special revenue) component unit into the primary government. Discretely Presented Component Unit Indian River County Housing Authority (IRCHA) - Created pursuant to Chapter 421, Florida Statutes, the IRCHA, whose Board is appointed by the State of Florida, provides subsidized public housing in accordance with federal legislation. The County provides the primary funding for the operations of the IRCHA, maintains budgetary control over the operating costs of the IRCHA and provides use of certain furniture and equipment at no charge. Appropriations from the County totaled $95,742, and the related actual operating costs totaled $89,107 for the fiscal year. The IRCHA cannot overspend appropriations in total. Since the IRCHA is fiscally dependent on the County, it has been included in the general purpose financial statements of the County. The IRCHA is presented as a proprietary fund type. Separate financial statements for the Solid Waste Disposal District and the Emergency Services District are not presently developed. Separate financial statements for the Indian River County Housing Authority are available in the administrative office located at 1028 20th Place, Vero Beach, Florida 32960. IS