CAFR 2011 Final with opinion (2)

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these two-funds have already been addressed in the discussion of the County's business-type activities. GENERAL UD BUDGETARY HIGHLIGHTS Differences between the original budget and the final amended budget were primarily the result of a$9.6 million increase in appropriations,most of which(93%) is due to increases in the appropriations for capital and operating grants and contributions. Differences between the final budget and the actual(budgetary basis)resulted in$3.2 million less revenues than expected and$23.3 million less expenditures than appropriated. This is primarily due to the following factors: 0 $2.2 million negative variance in intergovernmental revenue,which was made up almost entirely of the decrease in federal grants. 0 $16.9 million is due primarily to a decrease in salaries and wages as a result of furloughs and pay reductions that occurred during the fiscal year for two f the four unions and continued efforts by each department to control costs during the budget year due to the tough economic conditions facing the County. Amount consists primarily of variances in the following functions: general government $4.5 million),public safety $9.8 million),health, education and welfare 1.1 million)and culture and recreation $1.5 million). • $2.3 million is due to lever 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. $1.9 million is due to the fact that the increase in health premiums for employees' was leer than originally anticipated. CAPITAL ASSET AND DEBT ADMINISTRATION ATION Capital assets, The County's investment in capital assets for its governmental and business-type activities as of June 30, 2011 amounts to$837.9 million(net of accumulated depreciation). This investment in capital assets includes land and improvements, buildings and improvements, equipment,easements, 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 1 percent. Major capital asset events during the current fiscal year included the following: 0 Construction continued on the Ane Keohokalole Highway; construction in progress as of the end of the current fiscal year increased by$13.6 million to reach a total of$15.6 million. _ 0 Construction continued on the Kaloko Kale Housing Project and related wastewater treatment plant; construction in progress as of the end of the current fiscal year for both projects increased by$9.0 million to reach a total of$9.4 million. 0 Construction continued on the Hon l as and the Queen Liliuokalani large capacity cesspool projects, construction in progress as of the end of the current fiscal year for both projects increased by a combined$4.8 million to reach a total of$18.6 million.