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Indian River County, Florida
<br />Statement of Net Assets
<br />Proprietary Funds
<br />September 30, 2007
<br />Business -type Activities - Enterprise Funds Governmental
<br />Solid Waste Other Activities
<br />Disposal Golf County Enterprise Internal
<br />District Course Utilities Funds Total Service Fund
<br />ASSETS
<br />Current assets:
<br />Cash and cash equivalents $ 18,110,302 $ 2,854 S 34,340,820 $ 5,120,153 $ 57,574,129 S 17,959,321
<br />Accounts receivable - net 1912239 - 3,1582307 3,349,546 1811881
<br />Due from other funds 98,415 - - - 981415 -
<br />Due from other governments 28,578 12,569 41650 802 46,599 18,445
<br />Interest receivable 178,821 - 1,1291861 - 113081682 -
<br />Inventories 491648 7431379 405741 8331768 137,401
<br />Prepaid expenses - - - 60 60 136787005
<br />Current restricted assets:
<br />Cash and cash equivalents 14.780,748 53,814 72,673,728 112,994 87,621,284 -
<br />Total current assets 33.3889103 118,885 112,050,745 51274,750 150,8321483 19,975,053
<br />Non-current assets:
<br />Unamortized bond costs - 3317047 3,105,502 3,436,549
<br />Intangible assets - net 405282 - - 403282 -
<br />Capital assets - non -depreciable 17.123,169 669,630 311447,213 - 49,2409012 3465620
<br />Capital assets - depreciable 161937,524 81559,547 302,3697524 2,4271195 330,2937790 474,727
<br />Capital assets - accumulated depreciation (8,806,899) (11784,944) (129,1141434) (6495993) (140,356,270) (180,769)
<br />Non-current restricted assets:
<br />Special assessments receivable - - 231927721 - 211923721
<br />Notes receivable - - 3331333 - 3333333
<br />Impact fees receivable - - 111081443 - 11108,443
<br />Liens receivable - - 2935705 - 293,705
<br />Deposits - 11000 13,000 - 14,000
<br />Total non-current assets 25,2945076 71776,280 211,749,007 1,777,202 246,596,565 640,578
<br />Total assets 58,682,179 718957165 323,799,752 7,0511952 397 429,048 20,615,631
<br />LIABILITIES
<br />Current liabilities (payable from current assets):
<br />Accounts payable 8661106 141,328 15785,986 87,494 2,880,914 463,543
<br />Claims payable 615595000
<br />Due to other governments 95776 241284 93315 43,375 -
<br />Other deposits 21000 - - 21000 -
<br />Unearned revenues 61000 441255 766 51,021 -
<br />Capital leases - 74,934 74,934 -
<br />Accrued compensated absences 85,673 357043 258,827 74,753 454,296 341755
<br />Total current liabilities (payable from current assets) 9577779 3071336 210697863 171,562 31506,540 71057,298
<br />Current liabilities (payable from restricted assets)
<br />Accounts payable - - 61617,202 - 6,6177202 -
<br />' Retainage payable - - 11801,672 - 178017672 -
<br />Accrued interest payable - 13,397 2431579 - 256,976 -
<br />Bonds payable - 4851000 29620,000 - 31105,000 -
<br />Closure and maintenance costs payable 10,5097598 - - 1015097598 -
<br />Customer deposits 178,500 21885,431 72,571 3,136,502 -
<br />Total current liabilities (payable from restricted assets) 101688,098 498,397 14,167,884 72,571 25,426,950
<br />Non-current liabilities:
<br />Accrued compensated absences 112,258 797115 299,655 1151678 6061706 183343
<br />Advance from other funds 712,000 - 712,000 -
<br />Capital leases 35,091 35,091
<br />Bonds payable - net of unamortized discount/premium - 47133,728 57,2881097 61,4211825
<br />Total non-current liabilities 112,258 41959,934 571587,752 115,678 62,7751622 18,343
<br />Total liabilities 11,7587135 51765,667 73,8257499 3597811 91,709,112 75075,641
<br />0
<br />NET ASSETS
<br />Invested in capital assets, net of related debt 25,2531794 2,7151480 144,7941206 1,7771202 174,540,682 640,578
<br />Restricted for:
<br />Debt service - 40,417 2187333 - 258,750 -
<br />Capital projects - 83,5811721 - 83,581,721 -
<br />Unrestricted 21,6701250 (626,399) 21,379,993 4,914,939 47,3385783 12,899,412
<br />Total net assets S 46,924,044 $ 21129,498 $ 249,9745253 $ 61692.141 S 3051719,936 $ 131539,990
<br />The accompanying notes are an integral part of the financial statements.
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