village of wellington, florida

VILLAGE OF WELLINGTON, FLORIDASTATEMENT OF NET ASSETSSEPTEMBER 30, 2009Primary GovernmentGovernmental Business-typeActivities Activities TotalASSETSCash and cash equivalents $ 26,374,592 $ 12,389,384 $ 38,763,976Investments 57,794,109 28,671,716 86,465,825Receivables (net) 1,256,308 1,768,127 3,024,435Internal balances 419,103 (419,103) -Due from other governments 4,411,032 1,191,937 5,602,969Prepaid expenses 307,142 11,435 318,577Inventories 9,489 209,894 219,383Deposits 57,230 - 57,230Net other postemployment benefit asset 514,482 91,487 605,969Deferred charges 186,785 174,468 361,253Capital assets:Capital assets not being depreciated 89,647,630 14,329,612 103,977,242Capital assets being depreciated, net 42,703,105 95,954,456 138,657,561Total assets $ 223,681,007 $ 154,373,413 $ 378,054,420LIABILITIESAccounts payable and accrued liabilities $ 4,793,835 $ 849,869 $ 5,643,704Contracts and retainage payable 610,923 32,932 643,855Due to other governments 122,761 10,621 133,382Deposits - 959,387 959,387Unearned revenue 1,923,423 - 1,923,423Accrued interest 223,890 228,750 452,640Noncurrent liabilities:Due within one year 1,773,932 2,430,400 4,204,332Due in more than one year 18,291,566 8,667,364 26,958,930Total liabilities 27,740,330 13,179,323 40,919,653NET ASSETSInvested in capital assets, net of related debt 113,282,864 99,398,303 212,681,167Restricted for:Debt service 75,126 - 75,126Building department 3,329,608 - 3,329,608Road maintenance 1,029,292 - 1,029,292Capital projects 45,891,224 21,642,000 67,533,224Other postemployment benefits 514,482 91,487 605,969Unrestricted 31,818,081 20,062,300 51,880,381Total net assets $ 195,940,677 $ 141,194,090 $ 337,134,767See notes to basic financial statements13