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Indian River County, Florida Management's Discussion and Analysis For the Year Ended September 30, 2018 Other information In addition to the basic financial statements and accompanying notes, this report also contains required supplementary information concerning Indian River County's progress in funding its obligations to provide other postemployment benefits to its employees, as well as information regarding the County's proportionate share of its pension liability. Required supplementary information can be found on pages 110-115 of this report. Government -wide financial analysis As noted earlier, net position may serve over time as a useful indicator of a government's financial position. In the case of the County, assets and deferred outflows of resources exceeded liabilities and deferred inflows by $1,003.2 million at the close of the fiscal year. Current and other assets Capital assets Total assets Deferred outflows of resources Other liabilities Long-term liabilities Total liabilities Indian River County Net Position (In Millions) Governmental Business -type Activities Activities Total 2018 2017 2018 2017 2018 2017 $ 269.7 $ 257.7 $ 143.9 $ 134.9 $ 413.6 $ 392.6 570.4 564.4 215.7 222.8 786.1 787.2 840.1 822.1 359.6 357.7 1,199.7 1,179.8 54.5 54.4 4.5 4.7 59.0 59.1 140.3 39.8 180.1 Deferred inflows of resources 22.6 132.9 17.1 16.1 157.4 149.0 43.7 33.9 37.0 73.7 80.7 176.6 51.0 53.1 231.1 229.7 8.2 1.8 0.5 24.4 8.7 Net position: Net investment in capital assets 553.5 542.9 197.9 201.8 751.4 744.7 Restricted 159.4 150.1 - - 159.4 150.1 Unrestricted (21.0) (1.3) 113.4 107.0 92.4 105.7 Total net position $ 691.9 $ 691.7 $ 311.3 $ 308.8 $ 1,003.2 $ 1,000.5 Governmental Activities In governmental activities, the increase in restricted net position was mainly due to an increase in revenues for state and federal grants, including hurricane reimbursements, and insurance proceeds. The increase in net investment in capital assets was a result of completed construction projects and decreased outstanding debt. The net OPEB liability is now reflected on the financial statements, resulting in a decrease in unrestricted net position. An increase in the net pension liability also contributed to this decrease. Business -type Activities In business -type activities, the decrease in invested in capital assets resulted from a decreasing book value of existing assets as well as decreased outstanding debt. This decrease resulted in an overall increase in unrestricted net position. 8