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Indian River County, Florida <br />Management's Discussion and Analysis <br />For the Year Ended September 30, 2016 <br />Business -type Activities <br />Business -type activities net position increased by $2.6 million. Key elements of this increase are as <br />follows: <br />• Overall program revenues decreased $0.3 million <br />1) Charges for services increased by $3.3 million or 7%. A gradual improvement in the local <br />economy has attributed to the following increases over 2015 revenues: water and sewer <br />charges increased by $1.0 million or 3% and the building revenues increased by $0.4 million <br />or 15%. Solid waste revenues increased $1.9 million or 17% mainly due to an increase in <br />landfill assessments. <br />2) Capital grants and contributions were $3.6 million lower in 2016 than in 2015, an overall <br />decrease of 42%. This was mainly due to prior year grant reimbursements for the Osprey <br />Marsh project and previously deobligated FEMA grant funds for the Rockridge Sewer <br />Project. <br />• Overall expenses were $1.9 million or 4% higher in 2016.than in 2015. The water and sewer <br />utilities expenses were $0.2 million or less than 1% higher in 2016 than in 2015. The solid waste <br />expenses were $1.0 million or 9% higher in 2016 than in 2015 due to increased landfill closure <br />and contractual services costs. The golf course had $0.1 million or 4% higher expenses in 2016 <br />than in 2015 due to increased salaries and benefits costs. The building department had $0.6 <br />million or 28% higher expenses in 2016 than in 2015 due to staffing increases. <br />• Business -type activities expenses were charged $0.3 million for their related share of overall <br />pension expense as calculated by the Florida Retirement System. The increase in expense was <br />allocated to the following activities: water and sewer $0.2 million, solid waste $0.02 million, golf <br />course $0.02 million, and building $0.06 million. <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 25% of this total amount ($45.9 million) <br />constitutes unassigned fund balance, which is available for spending at the County's discretion. <br />13 <br />