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Indian River County, Florida Notes To Financial Statements Year Ended September 30, 2003 NOTE 2 - RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS - Continued ' A. Explanation of Differences Between the Governmental Fund Balance Sheet and the Government-wide Statement of Net Assets - Continued Deferred revenues Deferred revenues in the statement ofnet assets differs from the amount reported in governmental funds due to special assessment receivables . Governmental fund financial statements report unearned revenues or revenues which are measureable but not available as deferred revenues . However, deferred revenues in governmental funds are suscep- tible to full accrual on government-wide financial statements . Deferred revenues reduced $ 432255 Internal service funds ' Internal service funds are used by management to charge the costs of fleet management and insurance activities to individual funds . The assets and liabilities of the internal service funds are included in governmental activities in the statement of net assets because they primarily serve governmental activities of the County. Internal service fund $ 32456 , 617 ' Accrued grant revenues Some grant revenues are not recognized in the current period because the resources are not available, therefore , these revenues are not reported in the fund . Accrued grant revenues $2 , 705 , 048 ' Accrued interest revenues ' Some interest revenues are not recognized in the current period because the resources are not available , therefore, these revenues are not reported in the fund . Accrued interest revenues $ 461 , 560 Elimination of interf ind receivables/payables Interfund receivables and payables in the amount of $615 ,381 between governmental funds must be eliminated for the statement of net assets . r ' 49