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Major Initiatives In response to the critical erosion of several areas of County beaches, the Board of County Commissioners approved the Comprehensive Beach Preservation Plan (BPP) in 1999. The BPP provides for renourishment of these areas and is periodically updated to identify changing beach conditions. On February 3, 2009, the Board of County Commissioners voted to approve the 2008 Beach Preservation Plan which presents an overall strategy to protect and nourish the current status of critically eroded beaches within Indian River County. The plan also presents probable costs and prioritizes means for funding the implementation of the BPP. Since the implementation of the BPP, approximately 5 miles of beach have been renourished. A large scale beach nourishment of Sector 3 is currently underway. This project consists of placing approximately 586,000 cubic yards of dump truck hauled upland beach sand onto approximately 6.6 miles of County beaches. Total costs for design, construction and monitoring are estimated at $13.1 million, of which, $5.5 million was spent in FY 2010. Funding will be from the Beach Preservation Fund, a portion of local option tourist tax revenue, and the one -cent sales tax. State and federal grants as well as an inter -local agreement with the Sebastian Inlet Taxing District will provide additional funding for this project. The Spoonbill Marsh Brine project currently underway will provide an alternative to discharging brine directly into the Indian River Lagoon at an estimated cost of $2.1 million. Also being constructed is the North Regional Reuse Storage and Repump Facility which is designed to transfer reuse water from the mainland to the barrier island. Completion of the reuse main is scheduled for 2010-2011 with a cost of approximately $1.9 million. A new biosolids facility was completed in FY 2010 which relocated biosolids processing from the Central Wastewater Plant to the Indian River County landfill site. The $5.1 million facility was designed to accept liquid sludge. The liquid sludge is then dewatered and the dried product is trucked over to the landfill for disposal. Awards and Acknowledgements The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to Indian River County for its comprehensive annual financial report (CAFR) for the fiscal year ended September 30, 2009. This was the 27th consecutive year that the County has received this prestigious award. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe that our current comprehensive annual financial report continues to meet the Certificate of Achievement Program's requirements and we are submitting it to the GFOA to determine its eligibility for another certificate. iv