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Indian River County, Florida <br />Management's Discussion and Analysis <br />For the Year Ended September 30, 2017 <br />Business -type Activities <br />Business -type activities net position increased by $2.0 million. Key elements of this increase are as <br />follows: <br />• Overall program revenues increased $4.4 million <br />1) Charges for services increased by $1.8 million or 3%. A gradual improvement in the local <br />economy has attributed to the following increases over 2016 revenues: water and sewer <br />charges increased by $1.0 million or 3% and the building revenues increased by $0.3 million <br />or 10%. <br />2) Operating grants and contributions were $1.5 million higher in 2017 than in 2016. This was <br />mainly due to grant reimbursements and insurance recoveries related to hurricanes Matthew <br />and Irma. <br />• Overall expenses were $5.9 million or 11 % higher in 2017 than in 2016. The water and sewer <br />utilities expenses were $3.2 million or about 9% higher in 2017 than in 2016. The solid waste <br />expenses were $1.8 million or 14% higher in 2017 than in 2016 due to hurricane debris removal <br />costs. The golf course had $0.1 million or 4% higher expenses in 2017 than in 2016 due to <br />increased landscape, depreciation and hurricane related costs. The building department had $0.8 <br />million or 30% higher expenses in 2017 than in 2016 due to staffing increases required to meet <br />service level needs of developers and builders. <br />• Business -type activities expenses were charged $0.6 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 $0.4 million, solid waste $0.03 million, golf <br />course $0.03 million, and building $0.1 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 23% of this total amount ($43.0 million) constitutes <br />unassigned fund balance, which is available for spending at the County's discretion. <br />13 <br />