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Indian River County , Florida Management ' s Discussion and Analysis For the Year Ended September 30 , 2007 Government-wide Financial Analysis As noted earlier, net assets may serve over time as a useful indicator of a government ' s financial position. In the case of the County, assets exceeded liabilities by $ 914 . 2 million at the close of the fiscal year . By far, the largest portion of the County ' s net assets (60 percent) reflects its investment in capital assets (e . g . , land, buildings , machinery , and equipment) , less any related debt used to acquire those assets that is still outstanding . The County uses these capital assets to provide services to citizens ; consequently, these assets are not available for future spending . Although the County ' s investment in its capital assets is reported as net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources , since the capital assets themselves cannot be used to liquidate these liabilities . Indian River County Net Assets (In Millions) Governmental Business -type Activities Activities Total 2007 2006 2007 2006 2007 2006 Current and other assets $ 275 . 1 $ 319 . 9 $ 157 . 5 $ 162 . 1 $ 432 . 6 $ 482 . 0 Capital assets 447 . 6 355 . 5 239 . 2 219 . 7 686 . 8 575 . 2 Total assets 722 . 7 675 . 4 396 . 7 381 . 8 1119 . 4 1057 . 2 Long-term liabilities 70 . 8 74 . 8 62 . 0 65 . 0 132 . 8 139 . 8 Other liabilities 43 . 4 42 . 8 29 . 0 21 . 8 72 . 4 64 . 6 , Total liabilities 114 . 2 117 . 6 91 . 0 86 . 8 2052 204 . 4 Net assets : Invested in capital assets , net of related debt 374 . 5 278 . 2 174 . 5 152 . 2 549 . 0 430 . 4 Restricted 173 . 3 158 . 0 83 . 8 89 . 0 257 . 1 247 . 0 Unrestricted 60 . 7 121 . 6 47 . 4 53 . 8 108 . 1 175 . 4 Total net assets $ 608 . 5 $ 557 . 8 $ 305 . 7 $ 295 . 0 $ 914 . 2 $ 852 . 8 A portion of the County ' s net assets (28 . 0%) represents resources that are subject to external restrictions on how they may be used . The remaining balance of the unrestricted net assets ( $ 108 . 1 million) may be used to meet the government ' s ongoing obligations to citizens and creditors . At the end of the current fiscal year, the County is able to report positive balances in all three categories of net assets , both for the government as a whole , as well as for its separate governmental and business- type activities . The same situation held true for the prior fiscal year . The government ' s net assets *� increased by $ 61 . 4 million during the current fiscal year. There was a $ 118 . 6 million increase in net assets invested in capital assets , net of related debt resulting from 1 ) the purchase of properties for purposes of environmental conservation, and 2) , the construction of roads , the administration complex , ' the 43rd Avenue complex , the Utilities Operations Center, the Emergency Operations Center and a major jail expansion . In 2007 , the County elected to reclassify certain funds previously identified as unrestricted . Consequently , our discussion is limited to the net change of restricted plus unrestricted net assets , which decreased by $ 57 . 2 million, largely the result of land and other capital assets outlays . 6