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Indian River County, Florida <br /> Notes To Financial Statements <br /> Year Ended September 30, 2003 <br /> NOTE 12 - LONG-TERM LIABILITIES - Continued <br /> D . Capital Leases and Notes Payable <br /> Governmental Activities <br /> The County has entered into several lease-purchase agreements to purchase various types of equipment and <br /> furniture with lease terms varying from 24-60 months . <br /> The following is a schedule of future minimum lease payments under capital leases , together with the present <br /> value of the net minimum lease payments, as of September 30, 2003 : <br /> Board of <br /> Year Ending County Tax <br /> September 30 , Commissioners Collector Total <br /> 2004 $ 203 , 535 $ 52 ,244 $ 2553779 <br /> 2005 529244 52 ,244 <br /> 2006 - 529244 52 ,244 <br /> 2007 - 529244 52 , 244 <br /> Thereafter - 39, 183 39 , 183 <br /> Total Minimum Lease <br /> Payments $ 203 , 535 $ 248 , 159 $ 451 , 694 <br /> Less : Amounts representing F <br /> interest 9,493 24 , 683 349176 <br /> Present Value of Net <br /> Minimum Lease Payments $ 1945042 $ 223 476 <br /> $ 417, 518 <br /> The following is an analysis of the leased property under capital leases : <br /> Capitalized Cost <br /> Board of <br /> Courrty Tax <br /> Type of Property Commissioners Collector Total <br /> Computer equipment $ - $ 513 , 961 $ 513 , 961 <br /> Firetrucks 19310 ,055 - 19310, 055 <br /> Total $ 193109055 $ 5139961 $ 1 , 824, 016 <br /> Monthly payments for the computer equipment leases are made by the General Fund. Annual payments for the firetruck <br /> leases are made by the Emergency Services District Fund . <br /> 76 <br />