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15. INTERFUND RECEIVABLES, PAYABLES, AND TRANSFERS
The following is a summary of interfund receivables and payables reported in the fund financial statements:
Interfund
Funds | Receivables | Payables |
Major Funds: | ||
General | $ 13,557,889 | $ 575,021 |
Capital Projects - Other | 1,633,443 | 1,621,378 |
Special Revenue - Other Federal Programs Fund | - | 6,251,963 |
Special Revenue - Federal Education Stabilization Fund | - | 6,730,904 |
Internal Service Funds | - | 12,066 |
Total | $ 15,191,332 | $ 15,191,332 |
Interfund receivables and payables are temporary loans of cash between funds allowable under Section 1011.09(2), Florida Statutes, for a period of less than 13 months. The temporary loans do not restrict, impede, or limit implementation or fulfillment of the original purpose for which the monies were received in the fund providing the advancement. All amounts will be repaid within the 2021-2022 fiscal year.
The following is a summary of interfund transfers reported in the fund financial statements:
Transfers In | |||||||
Debt Service - | Capital Projects - | Nonmajor Government | Internal Service | ||||
Transfers Out | General Fund | Other Funds | Other Funds | al Funds | Funds | Total | |
General Fund | $ - | $ - | $ - | $ 270,521 | $ 3,073,978 | $ 3,344,499 | |
Debt Service - Other Funds | - | - | - | 604,246 | - | 604,246 | |
Capital Projects - Other Funds | 17,240,209 | 27,835,865 | 13,130,807 | 2,101,379 | - | 60,308,260 | |
Nonmajor Governmental Funds | 3,540,200 | 38,003,561 | 2,101,379 | 386,249 | - | 44,031,389 | |
Internal Service Funds | 403,400 | - | - | - | 1,304,804 | 1,708,204 | |
Total | $ 21,183,809 | $ 65,839,426 | $ 15,232,186 | $ 3,362,395 | $ 4,378,782 | $ 109,996,598 | |
Interfund transfers of money represent permanent transfers of monies between funds. A portion of the transfers out of the Local Capital Improvement and Local Sales Tax – Capital Projects Fund was to provide debt service principal and interest payments. A portion of the transfers in to the
General Fund was for Charter Schools Grant and Capital Outlay funds. The remaining transfers were operational in nature.