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Indian River County,Florida <br /> Management's Discussion and Analysis <br /> For the Year Ended September 30,2009 <br /> The remainder of fund balance is reserved to indicate that it is not available for new spending. The <br /> largest reserved amount is in the Optional Sales Tax Fund, which is reserved for capital projects in the <br /> amount of$32.3 million. Other reservations include $14.2 million for capital projects and $0.68 million <br /> for advances to other funds in the Secondary Roads Construction Fund, and, the total fund balances for <br /> the two debt service funds and one construction reserve fund listed on page 113. <br /> The General Fund is the chief operating fund of the County. At the end of the current fiscal year, <br /> unreserved, undesignated fund balance of the General Fund was $47.6 million. As a measure of the <br /> General Fund's liquidity, it may be useful to compare unreserved fund balance to total expenditures. <br /> Unreserved,undesignated fund balance represents 54%of total General Fund expenditures. <br /> 1 <br /> The Impact Fees Fund had a $46.2 million unreserved, undesignated fund balance, and the total impact <br /> fee expenditures were 35% of the ending fund balance, indicating future road construction. Fund <br /> balances of the Impact Fees, Secondary Roads, and Transportation Funds are slated for major road <br /> expansions throughout the County. <br /> Proprietary funds <br /> Unrestricted net assets at the end of the year amounted to $19.0 million in the Solid Waste Disposal <br /> District Fund, ($0.1) million in the Golf Course Fund, $4.0 million in the County Building Fund, and <br /> $14.2 million in the County Utilities Fund. <br /> Other factors concerning the finances of these funds have already been addressed in the discussion of the <br /> County's business-type activities. <br /> GENERAL FUND BUDGETARY HIGHLIGHTS <br /> During the year there was an $11.5 million increase in appropriations between the original and final <br /> amended budget. The main components of the increase are as follows: <br /> • $8,000,000 supplemental appropriation for incentive payments to Piper Aircraft. <br /> • $1,820,292 grants appropriations and prior year rollovers for the Community Transportation <br /> Coordinator to provide County-wide public transportation. <br /> • $400,000 supplemental appropriation to the Tax Collector's office. <br /> • $282,871 supplemental appropriation to the Sheriffs Department for air conditioning repairs <br /> ($40,000) and software costs ($242,871). <br /> Actual revenues exceeded final for the following budget by$2.2 g reasons: <br /> • Grants received mid-year that are not budgeted until awarded. <br /> • Actual receipts of taxes exceeded budget by$1.0 million. <br /> • Actual franchise fees received exceeded budget by $1.0 million. <br /> 10 <br />