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Indian River County, Florida
<br /> Notes To Financial Statements
<br /> Year Ended September 30 , 2002
<br /> NOTE 19 - COMMITMENTS AND CONTINGENCIES - Continued
<br /> B . Contracts and Other Commitments
<br /> The County has various contracts and commitments outstanding at September 30, 2002 . In the General Fund, con-
<br /> tracts are for the Health DepartmentAir Pre-conditioning, Re-Roofing Projects and the Wireless Master Plan. In the
<br /> Special Revenue Funds, contracts are for the Beach Preservation Plan, Kings Highway Phase Il Improvements and
<br /> various road paving and drainage projects. In the Capital Projects Funds, contracts are for the Main Library and North
<br /> County Library Additions, the North County Regional Park, Dodgertown Training Facility, Jungle Trail/Pelican Island
<br /> Improvements and various stormwater projects. In the Enterprise Funds , contracts are for the South County Reverse
<br /> Osmosis Plant Membrane Replacement, Solid Waste Disposal District Scalehouse Improvements, Sebastian Water
<br /> Expansion - Phase 31), Wetland Mitigation Site Maintenance, Hazardous Waste Collection and various other water
<br /> and sewer projects .
<br /> A summary of these projects at September 30, 2002 , is as follows :
<br /> Special Capital
<br /> General Revenue Proiects Enterprise Total
<br /> Total contract price $ 1869333 $ 15 ,659241 $ 23 ,3459238 $ 17,582,579 $ 569773 ,391
<br /> Total paid as of
<br /> September 30, 2002 111 , 126 4,239, 192 1396145868 95542,054 279507,240
<br /> Remaining obligations at
<br /> September 30, 2002 $ 759207 $ 11 ,420,049 $ 91730,370 $ 89040,525 $ 292669151
<br /> In addition to the contractual commitments above, the County has committed $7,000,000 for the construction of a
<br /> Public Works/Fleet facility.
<br /> C. Grants
<br /> Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies .
<br /> If any expenditures are disallowed as a result of these audits , the claims for reimbursement to the grantor
<br /> agency would become a liability of the County. In the opinion of management, any such adjustments would
<br /> not be significant.
<br /> NOTE 20 - SUBSEQUENT EVENTS
<br /> On February 5 , 2003 , the County purchased the Lost Tree Islands for $ 15 , 105 ,000 . The County used $ 12 , 375 , 000
<br /> of General Obligation Bonds, Series 2001 , funds and an interfund loan of $2 , 730,000 .
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