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The future principal and interest payment at December 31, 2025 are as follows:
Year Principal Interest Total
2026 $ 429,689 $ 348,323 $ 778,012
2027 284,241 334,426 618,667
2028 298,595 322,815 621,410
2029 258,115 311,630 569,745
2030 243,223 301,405 544,628
2031-2035 1,515,557 1,338,871 2,854,428
2036-2040 1,966,178 983,868 2,950,046
2041-2045 1,725,664 581,282 2,306,946
2046-2050 911,151 329,924 1,241,075
2051-2055 663,342 186,887 850,229
2056-2060 663,239 36,773 700,012
$ 8,958,994 $ 5,076,204 $ 14,035,198
Lease liability activity for the year ended December 31, 2025 was as follows:
| Balance January 1, 2025 | Additions | Deletions | Balance December 31, 2025 |
|---|
| Lease Liability | $ 9,284,723 | $ 204,871 | $ (530,600) | $ 8,958,994 |
The County, as the lessor, leases various building space to its vendors. An initial lease receivable was recorded in the amount of $576,390 in the General Fund. There was no additional revenue for variable and other payments not included in the measurement of the lease receivable. As of December 31, 2025, the value of the lease receivable is $293,095 and the related deferred inflow for future payments expected to be collected on the lease is $265,701. The payment amounts are fixed monthly payments ranging from $2,016 to $5,330 with lease periods ranging from 4 years to 9 years. The leases have an interest rate of 4%. The County recognized lease revenue and interest of $123,489 and $12,632, respectively for the calendar year.
The Conservation District, a special revenue-nonmajor governmental fund, entered into two leases with varying terms that run through 2029, with payments ranging from $3,672 to $17,366 based on the District's estimated interest rate of 3.75% and 4.01%. The ending lease receivable was $357,967 and the associated deferred inflow was $323,643. The fund recognized lease revenue of $243,403 and interest revenue of $20,667.