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Indian River County, Florida <br />NOTES TO FINANCIAL. STATEMENT Continued <br />Year Ended September 30,1995 <br />NOTE 13 - OPERATING LEASES <br />The County has entered into noncancelable operating leases, both as lessor and lessee. Lease terms vary <br />from 2 to 30 years. Lease revenues totaled $82,431 and lease expenditures totaled $93,449 for the year <br />ended September 30, 1995. The County also leases other equipment and office facilities as both lessor <br />and lessee on a month-to-month basis. <br />A. Future Minimum Lease Receipts <br />The following is a schedule by years of minimum future rentals to be received on noncancelable <br />operating leases for office space as of September 30: <br />Year Ending September 30, <br />1996 <br />$ 52,927 <br />1997 <br />51,127 <br />1998 <br />51,128 <br />1999 <br />51,128 <br />2000 <br />45,000 <br />Remaining <br />405.000 <br />Total future minimum lease receipts 565 <br />The property being leased is included in the County's General Fixed Asset Account Group and has a <br />carrying value of $834,273. <br />B. Future Minimum Lease Payments <br />The following is a schedule by years of minimum future rentals to be paid by the County for <br />noncancelable operating leases for office space as of September 30: <br />Year Ending September 30, <br />1996 <br />$ 88,827 <br />1997 <br />59,952 <br />1998 <br />57,327 <br />1999 <br />19,248 <br />2000 <br />17,681 <br />Remaining <br />Total future minimum lease payments <br />55 <br />