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• $2.2 million negative variance in taxes and assessments revenue resulting from collections
<br /> being less than expected.
<br /> • $5.8 million positive variance in interest and penalties revenue resulting from higher earnings
<br /> on cash and investments than expected.
<br /> • $4.3 million negative variance in intergovernmental revenue,including$2.0 million in
<br /> federal grants and$2.3 million in state grants.
<br /> • $4.9 million positive variance in general government expenditures caused by an overall effort
<br /> by each department to hold the line on expenditures.
<br /> • $5.8 million positive variance in public safety expenditures primarily created by vacant
<br /> positions in the police department,as well as an increased effort to control costs during the
<br /> budget year.
<br /> • $4.9 million positive variance in health fund expenditures,due primarily to lower than
<br /> expected costs and the fund not billing a portion of the post-retirement benefits costs as
<br /> anticipated.
<br /> CAPITAL ASSET AND DEBT ADMINISTRATION
<br /> Capital assets. The County's investment in capital assets for its governmental and business-type
<br /> activities as of June 30,2007 amounts to$547.2 million(net of accumulated depreciation). This
<br /> investment in capital assets includes land,buildings and improvements,equipment, and
<br /> infrastructure assets, which consists of primarily roads and bridges. The total increase in the
<br /> County's investment in capital assets for the current fiscal year was six percent.
<br /> Major capital asset events during the current fiscal year included the following:
<br /> • Construction continued on Kuakini Highway Improvements;construction in progress as of
<br /> the end of the current fiscal year had reached$11.0 million.
<br /> • Construction continued on the Prosecuting Attorney's Office in Aupuni Center;construction
<br /> in progress as of the end of the current fiscal year had reached$4.1 million.
<br /> • Construction began on the Mamalahoa Highway Improvements;construction in progress as
<br /> of the end of the current fiscal year had reached$4.6 million.
<br /> • Construction began on several park projects;construction in progress as of the end of the
<br /> current fiscal year had reached$4.1 million.
<br /> • Construction was completed on the Scotty White Bridge;construction in progress of$1.7
<br /> million was transferred to infrastructure.
<br /> Capital Assets
<br /> (net of depreciation)
<br /> As of June 30,2007 and 2006
<br /> Primary Government
<br /> Governmental Activities Business-type Activities Total
<br /> 2007 2006 2007 2006 2007 2006
<br /> Land $ 22,999,168 $ 22,737,854 $ 753,877 $ 753,877 $ 23,753,045 $ 23,491,731
<br /> Infrastructure assets 157,241,475 155,377,804 - 157,241,475 155,377,804
<br /> Ground and site improvements - - 86,352 90,107 86,352 90,107
<br /> Buildings and improvements 219,677,063 219,887,751 452,804 477,419 220,129,867 220,365,170
<br /> Equipment 36,237,623 31,854,863 13,230 15,517 36,250,853 31,870,380
<br /> Construction work in progress 109,766,441 _ 86,742,320 109,766,441 86,742,320
<br /> Total $545,921,770 $516,600,592 $1,306,263 $1,336,920 $547,228,033 $517,937,512
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