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Indian River County, Florida <br />Management's Discussion and Analysis <br />For the Year Ended September 30, 2020 <br />• Fund balance in the Impact Fees Fund increased by $4.9 million due to decreased <br />expenditures for capital projects slated for future fiscal years. <br />• Fund balance in the Transportation Fund increased by $0.8 million due to operating <br />expenditures being lower than anticipated. <br />• Fund balance in the Emergency Services District Fund increased by $5.0 million mainly <br />due to an increase in tax revenues because of increasing home values and <br />reimbursements from CARES Act funding. <br />• Fund balance in the Beach Restoration Fund decreased by $5.9 million due to <br />expenditures for the Sector 5 beach renourishment project. <br />• Fund balance in the Optional Sales Tax Fund increased by $3.2 million due to decreased <br />expenditures for capital projects slated for future fiscal years. <br />Proprietary funds <br />Unrestricted net position (deficit) at the end of the year amounted to $17.2 million in the Solid <br />Waste Disposal District (SWDD) Fund, ($0.1) million in the Golf Course Fund, $77.6 million in <br />the County Utilities Fund, and $4.5 million in the County Building Fund. Other factors <br />concerning the finances of these funds have already been addressed in the discussion of the <br />County's business -type activities. <br />GENERAL FUND BUDGETARY HIGHLIGHTS <br />During the year there was a $17.8 million increase in operating appropriations between the <br />original and final amended budget. The main components of the increase are as follows: <br />• $13.8 million grants appropriations and prior year rollovers for the Senior Resource <br />Association (SRA) to provide County -wide public transportation <br />• $2.7 million for capital improvements <br />• $0.7 million for Virgin Trains legal and professional services <br />Actual expenditures were $17.6 million lower than anticipated for the following reasons: <br />• $11.9 million in SRA grant costs not yet expended <br />• $1.5 million in expenditures previously budgeted in the general fund that were <br />ultimately paid from the CARES Act fund. <br />• $1.0 million in unspent professional and other contractual services <br />• $0.9 million in unspent salary and benefits expenditures <br />• $0.4 million in unspent Virgin Trains legal and professional services <br />14 <br />