village of wellington, florida

VILLAGE OF WELLINGTON, FLORIDACHANGES IN NET ASSETS (Continued)LAST EIGHT FISCAL YEARS(ACCRUAL BASIS OF ACCOUNTING)Fiscal Year2002 2003 2004 2005 2006 2007 2008 2009Net (expense) revenue:Governmental activities $ (13,799,632) $ (9,759,969) $ (11,420,863) $ (14,740,145) $ (22,841,592) $ (19,168,483) $ (21,469,395) $ (20,637,482)Business-type activities 7,870,904 16,242,289 5,661,086 845,716 8,921,479 1,668,698 (1,032,482) (5,246,796)Total net (expense) revenue $ (5,928,728) $ 6,482,320 $ (5,759,777) $ (13,894,429) $ (13,920,113) $ (17,499,785) $ (22,501,877) $ (25,884,278)General revenues:Governmental activities:Taxes:Property taxes $ 8,801,700 $ 7,419,620 $ 9,276,804 $ 11,305,840 $ 14,618,529 $ 18,591,345 $ 17,412,203 $ 16,049,186Franchise fees 1,806,321 2,074,904 2,379,764 2,744,351 3,430,912 3,512,575 3,492,742 3,594,701Utility taxes 3,957,238 4,599,232 4,863,526 5,493,444 6,044,216 6,130,417 6,184,787 6,634,632Sales tax 2,744,678 2,913,541 3,235,206 3,691,449 3,935,555 3,957,168 3,837,153 3,382,611Occupational licenses 139,427 - - - - - - -Grants and contributions not restrictedto specific programs 382,103 448,180 504,157 1,124,386 1,206,534 1,604,210 1,231,994 1,288,129Investment earnings 1,376,992 781,265 562,948 1,054,412 2,494,561 3,644,017 2,910,930 3,401,293Gain on sale of capital asset 443,806 - 416,983 119,566 - - - -Miscellaneous 796,655 1,018,405 797,038 1,628,765 2,828,287 626,192 626,048 534,529Transfers (253,395) (100,000) (975,000) (2,181,545) - - - -Total governmental activities 20,195,525 19,155,147 21,061,426 24,980,668 34,558,594 38,065,924 35,695,857 34,885,081Business-type activities:Investment earnings 2,163,389 1,001,488 569,820 1,131,842 2,637,429 3,563,790 2,238,123 1,689,327Gain on disposal of assets - 92,557 - (52,605) 445,816 - - -Transfers 253,395 100,000 975,000 2,181,545 - - - -Total business-type activities 2,416,784 1,194,045 1,544,820 3,260,782 3,083,245 3,563,790 2,238,123 1,689,327Total general revenues $ 22,612,309 $ 20,349,192 $ 22,606,246 $ 28,241,450 $ 37,641,839 $ 41,629,714 $ 37,933,980 $ 36,574,408Change in net assets:Governmental activities $ 6,395,893 $ 9,395,178 $ 9,640,563 $ 10,240,523 $ 11,717,002 $ 18,897,441 $ 14,226,462 $ 14,247,599Business-type activities 10,287,688 17,436,334 7,205,906 4,106,498 12,004,724 5,232,488 1,205,641 (3,557,469)Total change in net assets $ 16,683,581 $ 26,831,512 $ 16,846,469 $ 14,347,021 $ 23,721,726 $ 24,129,929 $ 15,432,103 $ 10,690,130Note: Information prior to 2002 is not available.80