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• $8.1 million negative variance in miscellaneous revenues attributable mostly to the County's decision to not sell a particular piece of real property as planned. • $25.2 million is due to the increased efforts by each department to control costs during the budget year due to the tough financial situation facing the County. Amount consists primarily of variances in the following functions: general government($8.8 million),public safety($11.7 million),health,education and welfare($1.7 million)and culture and education ($2.2 million). • $2.2 million is due to lower than anticipated payments needing to be made in pension related payments. With each department increasing efforts to control costs,overtime was also closely monitored and the corresponding pension expenditures were not incurred. CAPITAL ASSET AND DEBT ADMINISTRATION Capital assets. The County's investment in capital assets for its governmental and business-type activities as of June 30,2010 amounts to$758.8 million(net of accumulated depreciation). This investment in capital assets includes land,buildings and improvements,equipment, and infrastructure assets,which consists of primarily roads and bridges. The total increase in the County's investment in capital assets for the current fiscal year was 15 percent. Major capital asset events during the current fiscal year included the following: • Construction continued on both Phase II of the Hawaii County Building Improvements Project;construction in progress as of the end of the current fiscal year for both phases had increased by$6.6 million to reach a total of$23.9 million. • Construction continued on the Waikoloa Housing Project; construction in progress as of the end of the current fiscal year had increased by$7.5 million to reach a total of$31.8 million. • Construction continued on the East Hawaii Regional Sort Station;construction in progress as of the end of the current fiscal year had increased by$4.1 million to reach a total of$10.6 million. • Construction continued on the West Hawaii Civic Center; construction in progress as of the end of the current fiscal year had increased by$23.4 million to reach a total of$34.3 million. • Construction began on the Pahoa Police Station&Vehicle Registration&Licensing Division project; construction in progress as of the end of the current fiscal year had reached$4 million. • Construction began on the Komohana and Kinoole Street Improvement project;construction in progress as of the end of the current fiscal year had reached$4.7 million. • In January 2010, the County purchased 151 acres at Kaiholena for$6.5 million using funding from the Public Access,Open Space and Natural Resources Preservation Fund. These properties contain some of the most intact historic and cultural sites and traditionally used accesses to the shoreline used by the public for subsistence fishing and shoreline gathering. -21 -