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Indian River Memorial Hospital , Inc: and Subsidiaries <br /> Notes to Consolidated Financial Statements <br /> For the Years Ended September 30 , 2002 and 2m1 <br /> 9. Property and Equipment <br /> Property and equipment at September 30 is summarized as follows : <br /> 2002 <br /> 2001 <br /> Land $ 5, 167,371 $ 52167,371 <br /> Land improvements 32329,982 3,2972982 <br /> Buildings and building improvements 444686,361 42,923,453 <br /> Fixed equipment 31, 168,905 . 301001,392 <br /> Major movable equipment 73,598,013 _6. 7,30031603 <br /> Minor equipment 3059208 - - _ 54330920 <br /> 158,2552840 149,234,721 - <br /> Less - axanu:ilated depreciation (100, 879,570) (92, 120,69 <br /> 57,376,270 57, 1142028 <br /> Construction in progress 1 ,9675871 229831, 888 <br /> Property and equipment; net $ 592344, 141 $ 60,097,916 <br /> es non-o eratin real e <br /> Land includes p g r state which is being held with management' s intent of <br /> future- expansion. This land was purchased for approximately $ 732,000 in November 1996 in <br /> Sebastian, Florida. Land was purchased for approximately $ 1 ,600,000 in January 2000 in <br /> Vero Beach, Florida. _ In November 2000, additional land was purchased for approximately <br /> $ 1 ,2000000 in Sebastian, Florida. _ <br /> Construction in progress at September 30, 2002 consists primarily of several renovation and <br /> systems projects. Estimated costs to complete these projects amount to approximately <br /> $ 129132000 . <br /> 4 <br /> I <br /> 1 <br /> -20 - <br />