ACFR FY 2022 FINAL BOOK - Flipbook - Page 78
FINANCIAL SECTION
City of Eustis, Florida
NOTES TO FINANCIAL STATEMENTS
Note 2 - Lease Receivable
●
El Marie’s Pizzeria Lease
Starting April 2nd, 2020, the City of Eustis began leasing the building, located near Ferran park
at 200 N bay St� to El marie’s pizzeria as a pizza restaurant� The lease term is for six years,three
months and 29 days� The City of Eustis will receive monthly payments of $1,300� The City of
Eustis recognized $12,776 in lease revenue and $1,524 in interest revenue during the current
fiscal year, related to this lease�
●
The Lake of Eustis Area Chamber of Commerce Lease
July 1st, 2019, the City of Eustis began leasing the building, located at 1W Orange Ave� to the
Lake Eustis Area Chamber of Commerce Inc� for their office� The lease term is for five years�
The City of Eustis will receive monthly payments of $800� The City of Eustis recognized $9,140 in
lease revenue and $460 in interest revenue during the current fiscal year, related to this lease�
●
Crown Castle, LLC (AT&T Wireless) Lease
Starting August 30th, 2011, the City of Eustis began leasing the land, located at 1101 David Walker
Dr� to Crown Castle, LLC (AT&T Wireless), for a cellular phone tower� The lease term is for thirty
years� The City of Eustis will receive monthly payments of $3,573� The City of Eustis recognized
$17,118 in lease revenue and $25,754 in interest revenue during the current fiscal year, related
to this lease�
●
PrimeCo Personal Communications (Verizon Wireless) Lease
November 1st, 2001, the City of Eustis began leasing the land, located at bates Ave� to primeCo
personal Communications Limited partnership (Verizon Wireless), for a cellular phone tower� The
lease term is for fifty years� The City of Eustis will receive monthly payments of $3,436� The City
of Eustis recognized $8,517 in lease revenue and $32,714 in interest revenue during the current
fiscal year, related to this lease�
As of September 30, 2022, the City of Eustis receivable for lease payments was $108,003� Also,
the City of Eustis has a deferred inflow of resources associated with this lease that will be recognized as revenue over the lease term� As of September 30, 2022, the balance of deferred inflow
of resources was $2,575,382� Additional information can be found in the budgetary Highlights
section, Table 11, page 40�
78
Annual Comprehensive Financial Report | September 30, 2022