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funding source for capital replacement, operations and maintenance expenses . As such, credit calculations for future expenditures do not include an escalation factor. Table VII -11 Credit per Functional Resident 1998/99 98 , 248 $466 ,499 1999/00 1009639 $ 154619414 2000/01 1029236 $ 164 , 516 2001 /02 104 ,467 $ 1019709 2002/03 1075031 $ 57, 002 2003 /04 1119300 $406 ,621 2004/05 113 , 154 $ 0 2005/06 1143993 $2 , 0369327 2006/07 116, 853 $ 156,411 2007/08 1189733 $0 2008/09 120, 634 $292893409 Total Expansion $79139,907 Annual Average 1099844 $6499082 Avera a Expansion per Functional Resident $5.91 ( 1 ) Source : Appendix A, Table A-6 (excluding Indian River Shores) (2) Source : Table VII- 10 (FY 1998/99-2003/04) and Table VII- 8 (FY 2004/05 -2008/09) The last credit component is for revenue generated from past payments of property taxes on vacant land that are used to fund capital expansion projects . This calculation is a two- step process . First, the percentage of the total value of vacant land to the total property value is calculated . This considers the countywide value less the values in Indian River Shores . Revenues generated by past payment of property taxes on vacant land are deposited into IRC ' s general fund. Therefore, the second calculation considers the portion of total capital expansion expenditures funded through general fund revenues over theprevious six-year period . As shown in Table VII- 10, this figure is 5 . 07 percent. The vacant land value as a percentage of total property value is multiplied by the percent of historical general fund revenues spent on capital expansion projects . As illustrated in Table VII- 12 , the percent of past property tax payments on vacant land is 0 . 48 percent. Tindale-Oliver & Associates, Inc . Indian River County February 2005 VII- 13 Impact Fee Study