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Indian River County,Florida Management's Discussion and Analysis For the Year Ended September 30,2009 Indian River County Capital Assets (Net of Depreciation,In Millions) Governmental Business-type Activities Activities Total 2009 2008 2009 2008 2009 2008 Land $ 138.3 $ 137.8 $ 19.3 $ 18.4 $ 157.6 $ 156.2 Right-of-way 43.0 33.4 - - 43.0 33.4 Buildings and improvements 147.9 142.1 219.6 188.5 367.5 330.6 Equipment 25.1 31.7 4.7 6.0 29.8 37.7 Intangibles 2.4 2.0 0.4 0.1 2.8 2.1 Infrastructure 118.2 85.2 - - 118.2 85.2 Construction in progress 49.0 80.8 39.0 54.5 88.0 135.3 Total $ 523.9 $ 513.0 $ 283.0 $ 267.5 $ 806.9 $ 780.5 Additional information on the County's capital assets can be found in Note 6 on pages 63-65 of this report. Debt Administration-Long-term debt end of the current fiscal ear, the Count had total bonded debt outstanding of$122.0 million. Of At the y y this amount, $49.3 million is debt backed by the full faith and credit of the government. The revenue bonds represent bonds secured solely by specified revenue sources. Indian River County's Outstanding Debt General Obligation and Revenue Bonds (In Millions) Governmental Business-type Activities Activities Total General Obligation Debt: 2009 2008 2009 2008 2009 2008 General Obligation, Series 2001 $ 6.0 $ 6.7 $ - $ - $ 6.0 $ 6.7 General Obligation Ref, Series 2003 1.2 2.4 - - 1.2 2.4 Limited General Oblig., Series 2006 42.1 44.9 - - 42.1 44.9 Revenue Bonds: Spring Training Facility, Series 2001 12.9 13.4 - - 12.9 13.4 Recreational Revenue Ref., Series 2003 - - 3.7 4.1 3.7 4.1 Water and Sewer Ref. Rev., Series 1993A - - 3.0 31.8 3.0 31.8 Water and Sewer Ref. Rev., Series 2005 - - 24.1 25.5 24.1 25.5 Water and Sewer Ref. Rev., Series 2009 - - 29.0 - 29.0 - Total $ 62.2 $ 67.4 $ 59.8 $ 61.4 $ 122.0 $ 128.8 12