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Indian River County, Florida Management's Discussion and Analysis For the Year Ended September 30, 2006 Proprietary funds Unrestricted net assets in the solid waste disposal district at the end of the year amounted to $19.9 million, for the golf course ($0.8) million, and for the County utilities $29.9 million. 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 $4.8 million increase in appropriations between the original and final amended budget. Following are the main components of the increase: • $2,093,610 supplemental appropriation to the Community Transportation Coordinator to provide countywide public transportation. • $807,488 supplemental appropriation of reserved funds to the new county administration building. These funds were held in reserve for this project from the sale of the old county courthouse. • $374,361 supplemental appropriation for acquisition of a new integrated public safety information system. n • $250,000 supplemental appropriation to the Tax Collector's office due to commissions and excess fees. r_1 • $329,370 supplemental appropriation to various departments for damages to facilities, equipment, and overtime resulting from the three major hurricanes that affected Indian River County in 2004 and 2005. Actual revenues exceeded budget for the following reasons: • Property tax value and revenue increased due to increased building activity and rising property values. • Actual intergovernmental revenue exceeded budgeted FEMA and state hurricane recovery grants. • Revenue sharing and half -cent sales tax exceeded projections due to population growth. • Rising interest rates resulted in increased interest earnings. • Transfers in for $3.8 million which distributed insurance proceeds to proper funds. 10 D