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Indian River County, Florida <br />NOTES TO FINANCIAL STATEMENTS - Continued <br />Year Ended September 30, 1995 <br />NOTE ll - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued <br />B. Fund Accounting - Continued <br />Internal Service Funds - Internal Service Funds are used to account for the financing of goods and <br />services provided to other departments or agencies of the County, on a cost -reimbursement basis. <br />Fiduciary Funds <br />Trust and Agency Funds - Trust ar.' Agency Funds are used to account for assets held by the County in <br />a trustee capacity or as an agent for individuals, private organizations, other governments, and/or other <br />funds. These include Agency Funds and an Expendable Trust Fund. <br />Account Groups <br />General Fixed Assets - To account for all fixed assets of the County, except fixed assets of proprietary <br />funds. <br />General Long -Term Debt - To account for all the outstanding principal balances of general and special <br />obligation bonds, capital leases, and compensated absences of the County, except long-term obligations <br />of proprietary funds. <br />C. Measurement Focus <br />Governmental Fund T=, <br />General, Special Revenue, Debt Service and Capital Projects Funds are accounted for on a "spending" or <br />"financial flow" measurement focus. This means that only current assets and current liabilities are <br />generally included on the balance sheets. Accordingly, the reported unreserved fund balance (net current <br />assets) is considered a measure of available, spendable or appropriable resources. Governmental Fund <br />Type operating statements present increases (revenues and other financing sources) and decreases <br />(expenditures and other financing uses) in net current assets. <br />Proiel=Fund Types <br />The Enterprise and Internal Service Funds and the discretely presented component unit are accounted for <br />on an "income determination" measurement focus. Accordingly, all assets and liabilities are included on <br />the balance sheet, and the reported fund equity (total reported assets less total reported liabilities) <br />provides an indication of the economic net worth of the fund. Proprietary Fund Type operating <br />statements present increases (revenues) and decreases (expenses) in total economic net worth. <br />20 <br />