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2004-069
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2004-069
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Last modified
8/26/2016 1:29:24 PM
Creation date
9/30/2015 7:23:59 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Report
Approved Date
04/06/2004
Control Number
2004-069
Agenda Item Number
7.D.
Entity Name
Indian River County
Subject
Comprehensive Annual Financial Report
Fiscal Year 10/1/2002 - 9/30/2003
Archived Roll/Disk#
3210
Alternate Name
CAFR
Supplemental fields
SmeadsoftID
3698
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Indian River County, Florida - <br /> Management 's Discussion and Analysis <br /> For the Year Ended September 30 , 2003 <br /> The following schedule provides a summary of the assets, liabilities and net assets of the County. Total net assets <br /> for Governmental Activities increased from $322 . 1 million to $360 . 3 million. Total net assets for Business-type <br /> Activities increased from $ 182 . 3 million to $203 .4 million. Total assets ofthe County exceeded total liabilities by <br /> $563 . 7 million (net assets) . Unrestricted net assets for Governmental Activities were $20.4 million and unrestricted <br /> net assets for Business-type Activities were $47. 1 million. <br /> Net Assets <br /> (inmillions) <br /> Total <br /> Governmental Business-type Percent <br /> Activities Activities Total Change <br /> 2003 2002 2003 2002 2003 2002 <br /> Current assets $ 151 . 5 $ 154 . 9 $ 101 . 8 $ 87 . 4 $ 253 . 3 $ 242 . 3 4 . 5 % <br /> Non-current assets 0 . 2 0 .2 Li 1 . 2 1 . 3 1 . 4 (0 . 7)% <br /> Capital assets 261 . 5 222 . 5 190 . 5 185 . 2 452 . 0 407 . 7 10 . 8 % <br /> Total assets 413 . 2 377 . 6 293 . 4 273 . 8 706 . 6 651 . 4 ` 8 . 5 % <br /> Current liabilities 17 . 8 17 . 6 14 . 5 13 . 9 32 . 3 31 . 5 2 . 5 % <br /> Long-term liabilities 35 . 1 37 . 9 75 . 5 77 . 6 110 . 6 115 . 5 (0 . 4)% <br /> Total liabilities 52 . 9 55 . 5 90 . 0 91 . 5 142 . 9 147 . 0 (0 . 3)% <br /> Net assets - invested in capital <br /> assets , net of related debt 227 . 8 191 .2 113 . 3 106 . 0 341 . 1 297 . 2 14 . 8 % <br /> Net assets - restricted 112 . 1 113 . 3 43 . 0 31 . 2 155 . 1 144 . 5 7 . 3 % <br /> Net assets - unrestricted 20 . 4 17 . 6 47 . 1 45 . 1 67. 5 62 . 7 7 . 6% <br /> Total net assetsj <br /> $ 360 . 3 $ 322 . 1 $ 203 . 4 $ 182 . 3 $ 563 . 7 $ 504 . 4 11 . 7% <br /> The decrease in Governmental Activities current assets is primarily due to the acquisition of capital assets. Govern- <br /> mental Activities capital assets increased due to the purchase of the Lost Tree Islands (environmentally sensitive <br /> islands in the Indian River Lagoon), completition of the North County Regional Park, ongoing construction of a <br /> new Public Works complex, ongoing renovations to the Dodgertown complex, and beach renorishment of ap- <br /> proximately 2 . 5 miles of ocean front beaches . <br /> The increase in Business-type Activities current assets ($ 14.4 million) is primarily due to capital contributions from <br /> developers and home builders for County Utilities . Capital assets and Net assets - invested in capital assets , <br /> increased due to acquisitions using capital contributions and expansion of the water distribution system in the City <br /> of Sebastian . Unspent capital contributions are the primary reason that restricted net assets increased from $31 .2 <br /> million to $43 .0 million. <br /> 4 <br />
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