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Indian River County, Florida <br />Management’s Discussion and Analysis <br />For the Year Ended September 30, 2019 <br />15 <br /> <br /> <br />Actual expenditures were $9.2 million lower than anticipated for the following reasons: <br /> <br /> $3.4 million in SRA grant costs not yet expended <br /> <br /> $1.1 million in unspent recreational capital expenditures <br /> <br /> $0.9 million in unspent professional and other contractual services <br /> <br /> $0.4 million in unspent salary and benefits expenditures <br /> <br /> $0.5 million in unspent Virgin Trains legal and professional services <br /> <br /> <br />The General Fund Statement of Revenues, Expenditures, and Changes in Fund Balances – Budget and <br />Actual is shown on page 31. <br /> <br /> <br />CAPITAL ASSETS AND DEBT ADMINISTRATION <br /> <br />Capital Assets <br /> <br />The County’s investment in capital assets for its governmental and business-type activities as of <br />September 30, 2019, amounts to $797.7 million (net of accumulated depreciation). This investment in <br />capital assets includes land, right-of-way, buildings and improvements, intangibles, equipment, <br />infrastructure and construction in progress. The overall increase in the County’s investment in capital <br />assets for the current fiscal year was 1%. <br /> <br /> Indian River County Capital Assets <br />(Net of Depreciation, In Millions) <br /> <br /> Governmental Business-type <br /> Activities Activities Total <br /> 2019 2018 2019 2018 2019 2018 <br />Land $ 137.2 $ 134.8 $ 26.7 $ 25.7 $ 163.9 $ 160.5 <br />Right-of-way 63.2 59.3 - - 63.2 59.3 <br />Buildings and improvements 161.9 162.0 171.4 174.5 333.3 336.5 <br />Equipment 28.5 24.9 4.6 4.3 33.1 29.2 <br />Intangibles 2.4 2.4 2.2 2.0 4.6 4.4 <br />Infrastructure 156.4 151.0 - - 156.4 151.0 <br />Construction in progress 31.0 36.0 12.2 9.2 43.2 45.2 <br />Total $ 580.6 $ 570.4 $ 217.1 $ 215.7 $ 797.7 $ 786.1 <br /> <br />