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Indian River County, Florida Management's Discussion and Analysis For the Year Ended September 30, 2011 Governmental activities had the following major increases during the fiscal year: • An increase in infrastructure primarily due to the capitalization of the Egret Marsh Regional Stormwater Facility ($5.9 million), the 16th Street expansion project from 66th to 82"d Avenues ($3.1 million) and the 5th Street Southwest Bridge over the 43rd Avenue Canal Project ($1.9 million). • An increase in equipment primarily due to the purchase of two new ambulances and one fire truck ($0.8 million). • An increase in right-of-way primarily due to $3.8 million for right-of-way on 66th Avenue. Business -type activities had the following major increases and decreases during the fiscal year: • An increase in buildings and improvements was due to the capitalization of the Spoonbill Brine Marsh improvements ($3.1 million). • An increase in land due to leasehold improvements done at the Spoonbill Brine Marsh ($1.2 million). • A decrease in equipment primarily due to the sale of $4.9 million in equipment from the landfill upon privatization in January 2011. Indian River County Capital Assets (Net of Depreciation, In Millions) Additional information on the County's capital assets can be found in Note 6 on pages 66-68 of this report. 11 Governmental Business -type Activities Activities Total 2011 2010 2011 2010 2011 2010 Land $ 138.4 $ 138.4 $ 20.5 $ 19.3 $ 158.9 $ 157.7 Right-of-way 53.7 48.9 - - 53.7 48.9 Buildings and improvements 148.1 152.7 232.5 242.9 380.6 395.6 Equipment 26.2 25.5 1.9 3.3 28.1 28.8 Intangibles 1.3 2.4 1.9 1.3 3.2 3.7 Infrastructure 133.0 125.4 - - 133.0 125.4 Construction in progress 44.0 43.7 10.3 9.3 54.3 53.0 Total $ 544.7 $ 537.0 $ 267.1 $ 276.1 $ 811.8 $ 813.1 Additional information on the County's capital assets can be found in Note 6 on pages 66-68 of this report. 11