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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 , 2002
<br /> Business-type Activities
<br /> Enterprise Funds
<br /> Solid Waste Other
<br /> Disposal Golf County Enterprise
<br /> District Course Utilities Funds
<br /> OPERATING REVENUES
<br /> Charges for services $ 9, 897,222 $ - $ - $ 29009, 737
<br /> Charges for services pledged as
<br /> security for revenue bonds - 218979502 19,962,496 _
<br /> Total operating revenues 91897,222 258979502 19,962,496 2,0094737
<br /> OPERATING EXPENSES
<br /> Personal services 29241 ,234 7755968 5 ,205 ,239 19271 ,489
<br /> Material , supplies , services and
<br /> other operating 512379548 13412,823 44569401 567,356
<br /> Depreciation 579,099 1973964 99372,020 549399
<br /> Total operating expenses 8,057, 881 293863755 19,033 ,660 128939244
<br /> Operating income 158395341 510,747 9289836 116,493
<br /> NONOPERATING REVENUES (EXPENSES)
<br /> Interest income 654,896 - - 1215925
<br /> Interest income pledged as security
<br /> for revenue bonds - 30,400 219839032 -
<br /> Gain on disposal of equipment 800 255 115845 2,200
<br /> Interest expense - (3845483 ) (49150, 155) -
<br /> Bond amortization expense - ( 14, 742) (98 ,388)
<br /> Intangible amortization expense (9,867) - ( 155000) -
<br /> Loss on disposal of equipment - _ (868) _
<br /> Total nonoperating revenues (expenses) 6455829 (3685570) ( 172699534) 124, 125
<br /> Income before transfers and
<br /> capital contributions 294859170 142, 177 (340,698) 240,618
<br /> Transfers - - - 158,048
<br /> Capital contributions - - 8,3451763 339925
<br /> Capital contributions pledged as security
<br /> for revenue bonds - - 298765351 -
<br /> Change in net assets 2,485 , 170 1429177 10, 881 ,416 4329591
<br /> Total net assets - beginning 25 ,5291897 298,415 138,0785710 4,4723847
<br /> Total net assets - ending $ 28,0159067 $ 4409592 $ 148,960, 126 $ 4,905 ,438
<br /> Adjustment to reflect the consolidation of internal service funds activities related to enterprise funds
<br /> Change in net assets of business-type activities
<br /> The accompanying notes are an integral part of the financial statements .
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