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Indian River County, Florida Management's Discussion and Analysis For the Year Ended September 30, 2013 The General Fund Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual is shown on page 29. CAPITAL ASSETS AND DEBT ADMINISTRATION Capital Assets The County's investment in capital assets for its governmental and business -type activities as of September 30, 2013, amounts to $807.7 million (net of accumulated depreciation). This investment in capital assets includes land, right-of-way, buildings and improvements, intangibles, equipment, infrastructure and construction in progress. The overall decrease in the County's investment in capital assets for the current fiscal year was less than 1%. Indian River County Capital Assets (Net of Depreciation, In Millions) Governmental Business -type Activities Activities Total 2013 2012 2013 2012 2013 2012 Land $ 140.7 $ 139.6 $ 27.3 $ 27.3 $ 168.0 $ 166.9 Right-of-way 55.7 54.7 - - 55.7 54.7 Buildings and improvements 146.7 149.0 207.2 220.1 353.9 369.1 Equipment 23.7 26.3 1.6 1.6 25.3 27.9 Intangibles 1.7 1.7 1.8 1.8 3.5 3.5 Infrastructure 150.9 153.9 - - 150.9 153.9 Construction in progress 37.0 28.2 13.4 6.5 50.4 34.7 Total $ 556.4 $ 553.4 $ 251.3 $ 257.3 $ 807.7 $ 810.7 Governmental activities had the following major increases during the fiscal year: • An increase in construction in progress primarily due to the following continuing project costs: South County Multi -Purpose Fields ($1.9 million) and the 66th Avenue road expansion project from SR60 to 49th Street ($7.3 million) and from 12th Street to 4th Street ($4.1 million). Business -type activities had the following major increases during the fiscal year: • An increase in construction in progress was due to the following continuing project costs: the Oslo Customer Convenience Center ($2.2 million), Segment 3 Lateral Expansion Project ($1.7 million), the West Wabasso Gravity Sewer Project ($0.9 million), the Osprey Marsh Project ($0.5 million) and the West Regional Wastewater Treatment Plant Odor Improvements Project ($0.5 million). 13