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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 changes in net assets . Governmental Activities revenues ex- <br /> ceeded expenses by $38 . 3 million . Business-type Activities revenues exceeded expenses by $21 . 0 million. Total <br /> revenues increased $29 . 5 million from the previous year. Increases in property values generated an increase in <br /> Changes in Net Assets <br /> (inmillions) <br /> Total <br /> Governmental Business-type Percent <br /> Activities Activities Total Change <br /> 2003 2002 2003 2002 2003 2002 <br /> Program revenues <br /> Charges for services $ 18 . 9 $ 16 . 2 $ 37 . 0 $ 34 . 7 $ 55 . 9 $ 50 . 9 9 . 6% <br /> Operating grants/contributions 5 . 2 5 . 4 0 . 3 - 5 . 5 5 . 4 1 . 8 % <br /> Capital grants/contributions 1909 4 . 8 19 . 8 11 . 3 39 . 7 16 . 1 146 . 6% <br /> General revenues <br /> ' Property taxes 62 . 7 57 . 0 = = 62 . 7 57 . 0 10 . 0% <br /> Sales taxes 17 . 2 17 . 0 17 . 2 17 . 0 1 . 2% <br /> Franchise fees 6 . 2 5 . 8 - - 6 . 2 5 . 8 6 . 9% <br /> ' State shared revenues 10 . 6 12 . 9 - - 10 . 6 12 . 9 ( 17 . 8)% <br /> Other 4 . 5 6 . 3 2 . 4 3 . 8 6 . 9 10 . 1 (31 . 7)% <br /> Total revenues 145 . 2 125 . 4 59 . 5 49 . 8 204 . 7 175 . 2 16 . 8 % <br /> ' Expenses <br /> General government 20 . 3 17 . 9 - - 20 . 3 17 . 9 13 . 4% <br /> Public safety 46 . 4 45 . 2 - - 46 . 4 45 . 2 2 . 6% <br /> Physical environment 0 . 8 1 . 6 - - 0 . 8 1 . 6 (50 . 0)% <br /> ' Transportation 16 . 3 16 . 8 = = 16 . 3 16 . 8 (3 . 0)% <br /> Economic environment 0 . 6 0 . 4 0 . 6 0 . 4 50 . 0% <br /> Human services 6 . 2 6 . 0 - - 6 . 2 6 . 0 3 . 3 % <br /> Culture/recreation 8 . 7 8 . 2 = = 8 . 7 8 . 2 6 , 1 % <br /> Court related 6 . 1 5 . 5 6 . 1 5 . 5 10 . 9% <br /> Interest on long-term debt 1 . 5 1 . 7 - - 1 . 5 1 . 7 ( 11 . 8)% <br /> ' Water and sewer = = 25 . 0 23 . 2 25 . 0 23 . 2 7 . 7% <br /> Solid waste 8 . 6 8 . 0 8 . 6 8 . 0 7 . 5 % <br /> Golf course - - 2 . 9 2 . 8 2 . 9 2 . 8 3 . 6% <br /> ' Other - - 2 . 0 1 . 9 2 . 0 1 . 9 5 . 3 % <br /> Total expenses 106 . 9 103 . 3 38 . 5 35 . 9 145 . 4 139 . 2 4 . 4% <br /> Increase in net assets before transfers 38 . 3 22 . 1 21 . 0 13 . 9 59 . 3 36 . 0 (64 . 7)% <br /> Special item - grant to State - ( 1 . 3 ) - - - ( 1 . 3 ) ( 100)% <br /> Transfers (0 . 1 ) (0 . 1 ) 0 . 1 0 . 1 - - 0% <br /> Increase in net assets 38 . 2 20 . 7 21 . 1 14 . 0 59 . 3 34 . 7 (70 . 9)% <br /> 5 <br />