WAUKESHA COUNTY Waukesha, Wisconsin

WAUKESHA COUNTY, WISCONSINMANAGEMENT’S DISCUSSION AND ANALYSIS (unaudited)December 31, 2010Actual revenues in the general fund were $1.3 million above the final amended budget. Register of Deeds realestate transfer fees and document recording fees were $540,000 below budget due to the depressed real estatemarket. Interest and penalties on delinquent taxes were $1.1 million higher than budget.Actual expenditures in the general fund were $6.9 million under budget. Of that amount, $1.7 million was carriedforward for budgeted projects which where not completed in 2010. The contingency fund had $1.2 million inunallocated expenditure authority. Public works utility expenditures were about $400,000 under budget due toenergy conservation measures and mild winter temperatures. The balance of the budget variance was spreadacross several program areas.CAPITAL ASSET AND DEBT ADMINISTRATIONCapital AssetsThe County’s investment in capital assets for its governmental and business-type activities at December 31,2010, amounted to $332.8 million (net of accumulated depreciation), an increase of $11.3 million from 2009. Thisinvestment in capital assets includes land and easements, infrastructure, structures and improvements,equipment, and construction in progress.The County’s infrastructure assets are recorded at estimated historical cost in the government-wide financialstatements. The County has elected to use the depreciation method of reporting capital assets.Waukesha County's Capital Assets(net of depreciation)(in 000's)Governmental Activities Business-type Activities Total2010 2009 2010 2009 2010 2009Governmental ActivitiesLand $ 48,703 $ 43,555 $ 10,289 $ 10,289 $ 58,992 $ 53,844Buildings 106,813 107,189 9,146 8,865 115,959 116,054Land improvements 7,835 7,377 6,451 7,134 14,286 14,511Machinery and equipment 7,654 8,755 1,629 2,130 9,283 10,885Vehicles 6,718 6,426 - - 6,718 6,426Infrastructure 108,889 101,121 - - 108,889 101,121Construction in Progress 18,640 18,532 19 87 18,659 18,619Total $ 305,252 $ 292,955 $ 27,534 $ 28,504 $ 332,786 $ 321,459Further details of the County’s capital assets can be found in Note 8 of the notes to the financial statements,pages 65-67.28