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Indian River County, Florida
<br /> Statement of Revenues , Expenses , and Changes in Fund Net Assets
<br /> Proprietary Funds
<br /> For the Year Ended September 30 , 2003
<br /> Business-type Activities
<br /> Enterprise Funds
<br /> Solid Waste Other
<br /> Disposal Golf County Enterprise
<br /> OPERATING REVENUES District Course Utilities Funds
<br /> Charges for services $ 105187,432 $ - $ - $ 274325420
<br /> Charges for services pledged as
<br /> security for revenue bonds - 331125087 21 ,2101935 _
<br /> Total operating revenues _ 1011871432 31112,087 21 ,210,935 214324420
<br /> OPERATING EXPENSES
<br /> Personal services 2,429,504 815,561 51922,537 1 ,4539486
<br /> Material, supplies , services and
<br /> other operating 555909573 1 ,510,618 497429107 522,613
<br /> Depreciation 5595197 1355297 101163 ,364 57,655
<br /> Total operating expenses 895793274 214615476 20, 828,008 2,0335754
<br /> Operating income 156089158 6505611 3825927 3985666
<br /> NONOPERATING REVENUES (EXPENSES)
<br /> Interest income 429,553 - - 819809
<br /> Interest income pledged as security
<br /> for revenue bonds - 23 ,391 197979260 -
<br /> Operating grants 241 ,765 - 29, 897 -
<br /> Gain on disposal of equipment 27,740 2,087 309520 39020
<br /> Interest expense - (365,067) (45073 ,434) _
<br /> Bond amortization expense - ( 149742) (98,388) _
<br /> Intangible amortization expense (9,867) - ( 15 ,000) -
<br /> Loss on disposal of equipment - ( 1 ,622) (295 )
<br /> Total nonoperating revenues (expenses) 689, 191 (355 ,953 ) (2,329,440) 84,829
<br /> Income before transfers and
<br /> capital contributions 2,297,349 294,658 ( 1 ,946,513) 483 ,495
<br /> Transfers - - - 157,870
<br /> Capital contributions 1457943002
<br /> Capital contributions pledged as security
<br /> for revenue bonds - - 5,002,904 -
<br /> Change in net assets 212979349 294,658 17,850,393 641 ,365
<br /> Total net assets - beginning 28,0159067 440,592 148,9605126 4,905,438
<br /> Total net assets - ending $ 302312,416 $ 7359250 $ 166, 810,519 $ 59546,803
<br /> The accompanying notes are an integral part of the financial statements .
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