|
' Indian River County, Florida
<br /> Management 's Discussion and Analysis
<br /> For the Year Ended September 30, 2003
<br /> The Statement ofNet Assets presents information on all assets and liabilities of the County, with the difference
<br /> between assets and liabilities reported as net assets . Net assets are reported in three categories ; l ) invested in
<br /> ' capital assets , net of related debt, 2) restricted, and 3 ) unrestricted. Assets , liabilities , and net assets are reported
<br /> for all Governmental Activities separate from the assets , liabilities and net assets of Business-type Activities . In
<br /> addition, assets , liabilities , and net assets are reported for the Indian River County Housing Authority, which is
<br /> ' considered a component unit of the County.
<br /> The Statement ofActivities presents information on all revenues and expenses of the County and the change in net
<br /> ' assets . Expenses are reported by major function and program revenues relating to those functions are reported,
<br /> providing the net cost of all functions provided by the County. To assist in understanding the County's operations,
<br /> expenses have been reported as governmental activities or business-type activities . Governmental Activities fi-
<br /> ' nanced by the County include public safety, transportation, culture and recreation, and general government ser-
<br /> vices . Business-type Activities financed by user charges include water and sewer services, solid waste disposal,
<br /> and a golf course . Again, expenses and revenues of the Indian River County Housing Authority are reported
<br /> ' separately from the County's financial information.
<br /> ' Fund financial statements present financial information for governmental funds, proprietary funds, and a fiduciary
<br /> fund. These statements provide financial information for the maj or funds of the County. Governmental fund financial
<br /> statements provide information on the current assets and liabilities of the funds , changes in current financial re-
<br /> sources (revenues and expenditures), and current available resources . The proprietary funds financial statements
<br /> provide information on all assets and liabilities of the funds , changes in the economic resources (revenues and
<br /> expenses) , and total economic resources . The fiduciary fund statement provides information concerning assets
<br /> held in trust by the County on behalf of others .
<br /> Fund financial statements include a balance sheet and a statement of revenues , expenditures , and changes in fund
<br /> ' balances for all governmental funds . A statement of revenues , expenditures, and changes in fund balances - budget
<br /> and actual, is provided for the County's General Fund and major special revenue funds . For the proprietary funds ,
<br /> which includes internal service funds in addition to business-type activities, a statement of net assets ; a statement of
<br /> revenues , expenses , and changes in fund net assets ; and a statement of cash flows are presented . A statement of
<br /> fiduciary net assets is presented for the County 's agency fund. Fund financial statements provide more detailed
<br /> information about the County's activities . Individual funds are established by the County to track revenues that are
<br /> restricted to certain uses, comply with legal requirements , or account for the use of State and federal grants .
<br /> ' Notes to the financial statements provide additional detail concerning the financial activities and financial balances
<br /> of the County. Additional information about the accounting practices of the County, investments of the County,
<br /> long-term debt, and pension plans are some of the items included in the notes to the financial statements .
<br /> ADDITIONAL FINANCIAL INFORMATION
<br /> ' This report was prepared by the Finance Department under the supervision of the Clerk of the Circuit Court .
<br /> Questions concerning this report or requests for additional information should be addressed to the Finance De-
<br /> partment, 1840 25th Street, Vero Beach, FL , 32960 , or by calling 772- 567- 8000 , extension 1201 . Separate
<br /> financial statements for the Indian River County Housing Authority are available in the administrative office located
<br /> at 1028 20th Place , Vero Beach, FL , 32960 .
<br /> 11
<br />
|