village of wellington, florida

Business-type ActivitiesVillage of WellingtonRevenues by SourceBusiness-type ActivitiesCharges for services83%Capital grants andcontributions9%Investmentearnings8%Business-type activities decreased the Village of Wellington’s net assets by $3,557,469 accounting for adecrease of 33.3% of the total growth in the net assets of the Village of Wellington.Revenues increased by $998,319 or 4.8%. Key elements of this increase are as follows: Capital grants and contributions increased $1,025,065 or 95.9% compared to the prior year due to a lackof commercial building activity in 2008, thus contributing $0 from distribution lines, compared to$1,918,511 received in 2009. Conversely, there was a decrease in meter revenues and capacity charges of$294,246 due to less residential construction in 2008. Additionally, during 2008, Wellington receivedone-time grant revenues of $599,200 to be used for reuse water production. Operating grants and contributions decreased $1,522,575 or 100% compared to the prior year due toreimbursements from federal and local agencies received in 2008 related to disaster recovery expendituresincurred for hurricane events that took place during 2004 and 2005. Investment earnings decreased $548,796 or 24.5% compared to the prior year mostly due to thesignificant use of cash and investments for capital projects during 2009. Charges for services increased $2,044,625 or 12.7% compared to the prior year due to non ad-valoremassessments for solid waste increased $715,962 or 26.6% due to a higher assessment rate of $160compared to $129 in 2008. In addition, water/wastewater charges increased $985,290 or 7.8% due tohigher user charges that were enacted for 2009.Expenses increased by $5,761,429 or 29.1%. Key elements of this increase are as follows: Additional depreciation of $818,287 related to new capital assets that were placed into service in 2009.8