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Indian River County, Florida Management's Discussion and Analysis For the Year Ended September 30, 2017 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 balances in 1) a nonspendable category for inventories, prepaid items, and advances to other funds ($1.4 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 ($135.0 million), 3) a committed category for constraints imposed by approval of ordinances and contracts by the Board of County Commissioners ($3.2 million), and 4) an assigned category for constraints by the County's intent to use for specific purposes ($7.4 million). The two largest restricted amounts are in the Impact Fees Fund with a $15.1 million restricted fund balance and the Optional Sales Tax Fund with a $75.3 million restricted fund balance. Sixty-five percent of the Impact Fees Fund ($9.8 million) and twenty percent ($14.8 million) of the Optional Sales Tax Fund is slated for major road expansions throughout the County in fiscal year 2018. The Optional Sales Tax Fund is a principal funding source in the five year Transportation Capital Improvement Program. The County's governmental funds reported a combined fund balance of $190.0 million, which is an increase of $5.6 million over the prior year of $184.4 million. Contributing factors to the $5.6 million increase in fund balance are: • Fund balance in the General Fund decreased by $1.0 million. This was due to transit related expenditures to be reimbursed from a federal grant in fiscal year 2018. • Fund balance in the Emergency Services District Fund increased by $1.7 million mainly due to an increase in tax revenues because of increasing home values. • Fund balance in the Optional Sales Tax Fund increased by $4.2 million due to a $0.8 million increase in sales tax revenues and reduced expenditures for projects to be completed in future fiscal years. Proprietary funds Unrestricted net position at the end of the year amounted to $16.8 million in the Solid Waste Disposal District (SWDD) Fund, ($1.5) million in the Golf Course Fund, $6.1 million in the County Building Fund, and $85.6 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