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Indian River County, Florida <br /> Management's Discussion and Analysis <br /> For the Year Ended September 30, 2015 <br /> Governmental Activities <br /> In governmental activities, the increase in restricted net position was mainly due to reduced expenses <br /> from the one cent sales proceeds for capital projects budgeted in future fiscal years. The increase in net <br /> investment in capital assets was a result of increased construction projects and decreased outstanding <br /> debt. <br /> Business-type Activities <br /> In business-type activities, the increase in unrestricted net position was mainly due to reimbursement <br /> from FEMA for expenses previously disallowed and required to return in fiscal year 2014. ($2.7 million) <br /> and a grant reimbursement for the Osprey Marsh project($1.6 million). <br /> ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- <br />--------------------------------------------- <br /> Indian River Counter Total Net Position (Inmillions) <br /> September 30, 2014 and 2015 <br /> net investment in capital assets <br /> 2014 <br /> restricted <br /> 201.5 <br /> unrestricted <br /> 0 200 400 600 800 <br /> By far, the largest portion of the County's net position (76% or $733.3 million)reflects its investment in <br /> capital assets (e.g., land, buildings, infrastructure, intangibles, machinery, and equipment), less any <br /> related outstanding debt used to acquire those assets. The County uses these capital assets to provide <br /> services to citizens; consequently, these assets are not available for future spending. Although the <br /> County's investment in its capital assets is reported as net of related debt, it should be noted that the <br /> resources needed to repay this debt must be provided from other sources, since the capital assets <br /> themselves cannot be used to liquidate these liabilities. <br /> A portion of the County's net position (13% or $128.6 million) represents resources that are subject to <br /> external restrictions on how they may be used. The remaining balance of the unrestricted net position <br /> ($98.2 million) may be used to meet the government's ongoing obligations to citizens and creditors. <br /> 9 <br />