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Indian River County, Florida Management's Discussion and Analysis For the Year Ended September 30, 2012 • Fund balance in the Emergency Services District Fund decreased by $1.9 million, largely the result of decreased revenue from property tax values. • In the Impact Fees Fund, fund balance decreased $9.4 million. This was largely due to the $2.9 million in refunds issued to County residents for impact fees paid but remained unspent after six years and the $9.0 million in transportation spending due to major road construction and right-of- way purchases. • Fund balance in the Optional Sales Tax Fund increased by $6.2 million due to budgeted projects not yet completed. Proprietary funds Unrestricted net position at the end of the year amounted to $16.0 million in the Solid Waste Disposal District Fund, ($0.01) million in the Golf Course Fund, $4.1 million in the County Building Fund, and $50.2 million in the County Utilities Fund. Other factors concerning the finances of these funds have already been addressed in the discussion of the County's business -type activities. GENERAL FUND BUDGETARY HIGHLIGHTS During the year there was a $7 million increase in appropriations between the original and final amended budget. The main components are as follows: • $3,536,293 grants appropriations and prior year rollovers for the Senior Resource Association to provide County -wide public transportation. • $3,050,000 to call the remaining Land Acquisition G.O. Bonds, Series 2001. • $123,000 Local Jobs Grants • $111,500 Homeland Security Grants Actual revenues exceeded final budget by $3.6 million for the following reasons: • $1,000,000 Windsor donation reclassified from escrow fund to general fund • $556,845 Ad Valorem actual at 96.4% - budgeted at 95% • $437,000 Reimbursement for lower than anticipated insurance claims Actual expenditures were $3.3 million lower than anticipated for the following reasons: • $1,100,000 Senior Resource Association grants budgeted but not expended in FY 11/12 • $233,470 Medicaid invoices backlogged 2 months The General Fund Statement of Revenues, Expenditures, and Changes in Fund Balances — Budget and Actual is shown on page 27. 10