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Indian River County, Florida <br /> Management's Discussion and Analysis <br /> For the Year Ended September 30, 2015 <br /> FINANCIAL ANALYSIS OF THE GOVERNMENT'S FUNDS <br /> As noted earlier, the County uses fund accounting to ensure and demonstrate compliance with finance <br /> related legal requirements. <br /> Governmental funds <br /> Unassigned fund balance may serve as a useful measure of the County's net resources available for <br /> spending at the end of the fiscal year. Approximately 26% of this total amount ($47.3 million) <br /> constitutes unassigned fund balance, which is available for spending at the County's discretion. <br /> The remainder of fund balance is presented in classifications that comprise a hierarchy based primarily <br /> on the extent to which the County is bound to honor constraints on the specific purposes for which <br /> amounts in those funds can be spent. The County had fund balance in 1) a nonspendable category for <br /> inventories, prepaid items, and advances to other funds ($0.6 million), 2) a restricted category for <br /> resources that are either restricted externally by creditors, grantors, contributors, or laws or regulations <br /> of other governments or imposed by law through constitutional provisions or enabling legislation <br /> ($121.5 million), 3) a committed category for constraints imposed by approval of ordinances and <br /> contracts by Board of County Commissioners ($2.6 million), and 4) an assigned category for constraints <br /> by the County's intent to use for specific purposes ($7.1 million). <br /> The two largest restricted amounts are in the Impact Fees Fund with a $14.2 million restricted fund <br /> balance and the Optional Sales Tax Fund with a $64.1 million restricted fund balance. Sixty percent of <br /> the Impact Fees Fund ($8.5 million) and twenty-five percent ($16.3 million) of the Optional Sales Tax <br /> Fund is slated for major road expansions throughout the County. <br /> The County's governmental funds reported a combined fund balance of $179.1 million, which is an <br /> increase of$5.7 million over the prior year of$173.4 million. Contributing factors to the $5.7 million <br /> increase in fund balance are: <br /> • Fund balance in the General Fund decreased by $1.4 million. This decrease was due to an <br /> increase in legal services mainly related to the All Aboard Florida train expansion and the <br /> Florida Municipal Power Agency electric matter. <br /> • In the Impact Fees Fund, fund balance decreased $0.9 million. This was largely due to the $5.1 <br /> million in transportation spending for major road construction and right-of-way purchases. <br /> • In the Transportation Fund, fund balance decreased$1.0 million due to the purchase of numerous <br /> replacement vehicles, including dump trucks and front end loaders. <br /> • Fund balance in the Emergency Services District Fund decreased by $2.4 million due to the <br /> construction of Fire Station#13. <br /> • Fund balance in the Optional Sales Tax Fund increased by $10.1 million mainly due to an $8.5 <br /> million decrease in expenditures for road construction. <br /> 1.4 <br />