FY2016 CCDOA Financial Report as of 6302016.pdf - page 85

CLARK COUNTY DEPARTMENT OF AVIATION
CLARK COUNTY, NEVADA
Notes to Financial Statements
For the Fiscal Years Ended June 30, 2016 and 2015
72
7.) NON-CURRENT PREPAID EXPENSES
Non-current prepaid expenses as of June 30, 2016 and 2015 follow.
Non-current Prepaid Expenses
As of June 30, 2016 and 2015
June 30, 2016 June 30, 2015
Prepaid Bond Insurance Premium
(000)
(000)
2006 Series A
94
$
104
$
2007 Series A-1 PFC
242
275
2007 Series A-2 PFC
-
328
2007 Series A-1
243
274
2007 Series A-2
267
279
2010 Series A PFC
1,319
1,385
2014 Series A-2
30
32
2015 Series A Senior
68
71
2015 Series C PFC
220
-
Total prepaid bond insurance premium
2,483
2,748
Unamortized Consolidated Rental Car Facility lease cost
2,115
4,935
Total non-current prepaid expenses
4,598
$
7,683
$
The unamortized Consolidated Rental Car Facility lease cost consists of amounts due from the signatory
airlines on June 30, 2007, that were forgiven in FY 2008 in exchange for the net revenues (excluding
land rent) from the Consolidated Rental Car Facility during its 10-year lease term.
8.) DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows of resources consist of deferrals associated with pension accounting established
under GASB 68, the fair value of hedging derivative instruments for FY 2016 under GASB 72 and the
mark-to-market value of hedging derivative instruments for FY 2015 under GASB 53, and other deferred
costs related to debt.
Deferred outflows of resources related to the Department's pension plan are discussed in detail in Note
5, "Retirement Plans."
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