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r <br /> Indian River County Healthy Start Coalition, Inc. r <br /> Notes to Financial Statements (continued) <br /> Note 6 — Accrued Compensated Absences <br /> Accrued compensated absences reflect the liability of the Coalition for accrued annual leave and <br /> compensatory leave of its employees . <br /> Note 7 — Leases <br /> On June 29, 2001 , the Coalition entered into a 48-month lease for office space, with monthly <br /> payments of $ 850, effective August 1 , 2001 . <br /> The future minimum lease payments required under the non-cancelable operating lease are as <br /> follows : <br /> Years ended June 30, Amount <br /> 2003 $ 10,667 <br /> 2004 119201 <br /> 2005 119761 <br /> 2006 984 <br /> $ 34,613 <br /> Note 8 — Concentrations <br /> For the fiscal years ended June 30, 2002 and 2001 , the Coalition received approximately 90% <br /> and 91 % of its revenue, respectively, from governmental agency grants . <br /> Additionally, substantially all coalition services are provided by Indian River County Health <br /> Department and Exchange Club C.A.S .T.L:E, <br /> Note 9 — Property Disposition <br /> The Ounce of Prevtiention/Healthy Families Florida reserves the right to retrieve any and all <br /> equipment and furniture with a value greater than $500, which was purchased with funds <br /> provided through the grant, upon completion or termination of the grant contract. The Coalition <br /> has purchased equipment and furniture of approximately $59 ,000 under the Ounce of <br /> Prevention/Healthy Families Florida grant, as of June 30, 2002 . <br /> -9 - <br />