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Indian River County, Florida Management's Discussion and Analysis For the Year Ended September 30, 2016 The remainder of fund balance is presented in classifications that comprise a hierarchy based primarily on the extent to which the County is bound to honor constraints on the specific purposes for which amounts in those funds can be spent. The County had fund balance in 1) a nonspendable category for inventories, prepaid items, and advances to other funds ($0.5 million), 2) a restricted category for resources that are either restricted externally by creditors, grantors, contributors, or laws or regulations of other governments or imposed by law through constitutional provisions or enabling legislation ($128.3 million), 3) a committed category for constraints imposed by approval of ordinances and contracts by Board of County Commissioners ($2.6 million), and 4) an assigned category for constraints by the County's intent to use for specific purposes ($7.1 million). The two largest restricted amounts are in the Impact Fees Fund with a $14.1 million restricted fund balance and the Optional Sales Tax Fund with a $71.2 million restricted fund balance. Fifty-five percent of the Impact Fees Fund ($7.8 million) and twenty-four percent ($16.7 million) of the Optional Sales Tax Fund is slated for major road expansions throughout the County. The County's governmental funds reported a combined fund balance of $184.4 million, which is an increase of $5.3 million over the prior year of $179.1 million. Contributing factors to the $5.3 million increase in fund balance are: • Fund balance in the General Fund decreased by $1.8 million. This was due to an increase of $3.1 million in transfers out to fund an additional contribution to the OPEB Trust. • In the Secondary Roads Construction Fund, fund balance decreased $1.9 million. This was largely due to the $1.5 million increase in road resurfacing projects. • Fund balance in the Emergency Services District Fund decreased by $1.0 million mainly due to a $0.6 million increase in transfers out to fund an additional contribution to the OPEB Trust. • Fund balance in the Optional Sales Tax Fund increased by $7.1 million mainly due to a $0.7 million increase in sales tax revenues, a $1.6 million increase in grant reimbursements, and a $2.4 million increase in miscellaneous revenues due to receipt of a legal settlement related to the County administration building roofs ($1.2 million) and reimbursement from the State for a prior year joint road project ($1.2 million). Proprietary funds Unrestricted net position at the end of the year amounted to $15.1 million in the Solid Waste Disposal District (SWDD) Fund, ($0.8) million in the Golf Course Fund, $5.8 million in the County Building Fund, and $80.2 million in the County Utilities Fund. Other factors concerning the finances of these funds have already been addressed in the discussion of the County's business -type activities. 14