Laserfiche WebLink
Indian River County, Florida <br /> ' Notes To Financial Statements <br /> Year Ended September 30, 2003 <br /> ' NOTE 2 - RECONCILIATION OF GOVERNMENT WIDE AND FUND FINANCIAL STATEMENTS <br /> - Continued <br /> B . Explanation of Differences Between Governmental Fund Operating Statements and the State- <br /> ment of Activities - Continued <br /> ' Special assessment revenues <br /> Revenues collected on special assessments are reported in the governmental funds . However, in the statement of <br /> ' activities, the assessment revenues are recognized when they are earned. <br /> Special assessment revenues $ ( 895958) <br /> ' Internal service funds operating loss <br /> The assets and liabilities of the internal service funds are included in governmental activities in the statement of net assets <br /> ' because they primarily serve governmental activities of the County. The net costs of the internal service funds are <br /> reported with governmental activities . <br /> Internal service funds operating gain $ 539 459 <br /> Accrued grant revenues <br /> Some grant revenues are not recognized in the current period because the resources are not available, therefore, these <br /> ' revenues are not reported in the fund. This number is a net number of prior year accrual and current year accrual . <br /> Net accrued grant revenues $ 2885951 <br /> ' Accrued interest revenues <br /> Some interest revenues are not recognized in the current period because the resources are not available , therefore, <br /> these revenues are not reported in the fund. This number is a net number of prior year accrual and current year accrual . <br /> Net accrued interest revenues $ (343 , 925 ) <br /> Reclassification and Eliminations <br /> The general fund recognizes revenues in the amount of $ 1 ,738 ,362 for the general administrative charges to the public <br /> safety and transportation functions . These revenues and expenditures must be eliminated to avoid double counting . <br /> ' Transfers in and transfers out in the amount of $ 9,033 ,781 between governmental activities should be eliminated. <br /> Capital projects costs in the amount of $ 12,228 ,005 must be distributed to the related expenditure functions . <br /> ' 53 <br />