Laserfiche WebLink
' Indian River County , Florida <br /> Notes To Financial Statements <br /> Year Ended September 30, 2003 <br /> NOTE 15 - OPERATING LEASES <br /> The County has entered into noncancelable operating leases , both as lessor and lessee. Lease terms vary from 2 to 30 <br /> years . Lease revenues totaled $236, 028 and lease expenditures totaled $ 395 , 950 for the year ended September 30 , <br /> 2003 . The County also leases other equipment and office facilities as both lessor and lessee on a month-to-month <br /> basis . <br /> A. Future Minimum Lease Receipts <br /> ' Year Amount <br /> 2004 $ 212 ,248 <br /> 2005 1589176 <br /> ' 2006 669750 <br /> 2007 45 ,200 <br /> ' 2008 45 ,200 <br /> 2009 - 2013 1549750 <br /> 2014 - 2018 1 , 000 <br /> ' 2019 - 2023 800 <br /> Total future minimum lease receipts : $ 6849124 <br /> The property being leased is included in the statement ofnet assets governmental activities and business-type activities <br /> columns and has a carrying value of $7 , 670 , 895 . For fiscal year 2003 , total depreciation expense for depreciable <br /> property being leased is $ 435 , 972 . <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 noncancelable <br /> operating leases as of September 30 : <br /> Year Amount <br /> 2004 $ 349,495 <br /> 2005 340 , 622 <br /> 2006 242 , 179 <br /> 2007 1479812 <br /> 2008 1359074 <br /> 2009 - 2013 5289775 <br /> 2014 - 2018 1029525 <br /> ' <br /> 2019 - 2023 1 , 500 <br /> Remaining 85100 <br /> ' Total future minimum lease payments : $ 1 , 856 ,082 <br /> ' 83 <br />