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Indian River County, Florida <br />Management's Discussion and Analysis <br />For the Year Ended September 30, 2007 <br />Capital Assets and Debt Administration <br />Capital assets <br />The County's investment in capital assets for its governmental and business -type activities as of <br />September 30, 2007, amounts to $686.8 million (net of accumulated depreciation). This investment in <br />capital assets includes land, right-of-way, buildings and improvements, equipment, infrastructure and <br />construction in progress. The overall increase in the County's investment in capital assets for the current <br />fiscal year was 19 percent (a 26 percent increase for governmental activities and a 9 percent increase for <br />business -type activities). <br />Governmental activities had the following major increases during the fiscal year: <br />• An increase in buildings primarily due to the capitalization of the county administration building, <br />the 43`d Avenue complex, the Emergency Operations Center, and the county jail expansion. <br />• An increase in improvements due to the capitalization of fire station, county parks, and <br />Dodgertown improvements. <br />• An increase in land primarily due to the purchase of properties for purposes of environmental <br />conservation including the $12.1 million Sexton ranch property and the $13.8 Sebastian Harbor <br />Preserve. <br />Business -type activities had the following major increases during the fiscal year: <br />• An increase in buildings due to the capitalization of the Utilities Operations Center. <br />• An increase in construction in progress was due to the North County R/O Plant Expansion and <br />West Regional Wastewater Transmission Project. <br />