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aIndian River County, Florida <br />Management's Discussion and Analysis <br />n For the Year Ended September 30, 2006 <br />Actual expenditures were lower than anticipated for the following reasons: <br />a .Hurricane expenses budgeted but not incurred. <br />p g <br />U • Positions budgeted but not filled. <br />Various budgeted capital improvements expenditures were deferred until the next fiscal year. <br />The General Fund Statement of Revenues, Expenditures, and Changes in Fund Balances — Budget and <br />Actual is shown on page 25. <br />a <br />Capital Assets and Debt Administration <br />Capital assets <br />The County's investment in capital assets for its governmental and business -type activities as of <br />September 30, 2006, amounts to $575.2 million (net of accumulated depreciation). This investment in <br />capital assets includes land, right-of-way, buildings and improvements, equipment, infrastructure and <br />construction in progress. The overall increase in the County's investment in capital assets for the current <br />fiscal year was 15 percent (a 21 percent increase for governmental activities and a 7 percent increase for <br />business -type activities). <br />U Governmental activities had the following major increases during the fiscal year: <br />An increase in buildings primarily due to the capitalization of the road and bridge/traffic <br />complex. <br />An increase in land primarily due to the purchase of properties for purposes of environmental <br />conservation including the $4.8 million Russell Grove River Buffer and the $2.8 million Oslo <br />DRiverfront. <br />• An increase in equipment primarily due to the installation of new computers, equipment and <br />furnishings in the new facilities management and Supervisor of Elections buildings. <br />Business -type activities had the following major increases during the fiscal year: <br />aa An increase in land mainly due to the purchase of several parcels of land for the expansion of the <br />Central Regional Wastewater Treatment Plant. <br />An increase in equipment due to the purchase of new software for the Building Department and <br />the GIS Department. Furnishings were purchased for the new Utility Operations Center. <br />11 <br />n11 <br />