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Indian River County, Florida <br />Management's Discussion and Analysis <br />For the Year Ended September 30, 2010 <br />The decrease in governmental activities restricted net assets and the increase in governmental <br />unrestricted net assets were due to the early implementation of GASB Statement 54, Fund Balance <br />Reporting and Governmental Fund Type Definitions. Amounts that were previously classified as <br />restricted ($22.1 million) in fiscal year 2009 were deemed to belong in the committed and assigned <br />categories in fiscal year 2010 (now considered unrestricted under the new Statement). <br />In addition to the reclassification of $22.1 million in net assets, there was an $7.2 million increase in <br />governmental activities unrestricted net assets due to the receipt of a $4.0 million grant in the County's <br />Beach Restoration fund and a $3.2 million increase in County's Self Insurance Fund. <br />The decrease in business -type activities restricted net assets and the increase in business -type <br />unrestricted net assets was due to the completion of capital projects. In the County Utilities Fund, the <br />net assets are restricted during construction and then unrestricted upon completion. <br />7 <br />