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Indian River County, Florida Management's Discussion and Analysis For the Year Ended September 30, 2012 CAPITAL ASSETS AND DEBT ADMINISTRATION Capital Assets The County's investment in capital assets for its governmental and business -type activities as of September 30, 2012, amounts to $810.7 million (net of accumulated depreciation). This investment in capital assets includes land, right-of-way, buildings and improvements, intangibles, equipment, infrastructure and construction in progress. The overall decrease in the County's investment in capital assets for the current fiscal year was less than 1%. Governmental activities had the following major increases during the fiscal year: • An increase in infrastructure primarily due to the capitalization of the Sector 3 Beach Restoration Project ($12.9 million), the 53rd Street road expansion project from Kings Highway to US 1 ($9.0 million), the 82nd Avenue bridge over the Lateral "D" Canal ($1.3 million), and a bridge ($2.2 million) and sidewalk ($1.2 million) along Old Dixie Highway. • An increase in buildings and improvements primarily due to the completion of the Quadrangle Softball Fields at Vero Beach Sports Village ($2.4 million), and the Senior Resource Association transit facility ($2.3 million). • An increase in land due to the purchase of the Pressley Ranch property ($1.0 million). Business -type activities had the following major increases and decreases during the fiscal year: • An increase in buildings and improvements was due to the capitalization of the North County Reverse Osmosis Plant Wells 4-9 Project ($4.0 million), the North County Wastewater Treatment Plant Storage/Repump Facility ($2.1 million), and the North County reverse osmosis plant brine line ($0.9 million). • An increase in land due to the purchase of 13 acres for the South County brine project ($0.7 million). 11