Fort Walton Beach — Annual Comprehensive Financial Report, September 30, 2023 — reading text

Total expenditures 500 500 - 500 NET CHANGE IN FUND BALANCE - - 8,114 8,114 FUND BALANCE AT BEGINNING OF YEAR - - 21,895 21,895 FUND BALANCE AT END OF YEAR $ - $ - $ 30,009 $ 30,009 104  CITY OF FORT WALTON BEACH, FLORIDA FLORIDA BUILDING CODE SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE – BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2023 Variance with Final Budget - Budgeted Amounts Positive Original Final Actual (Negative) REVENUES Permits and fees $ 624,152 $ 624,152 $ 804,189 $ 180,037 Miscellaneous 500 500 14,827 14,327 Total revenues 624,652 624,652 819,016 194,364 EXPENDITURES Current Public safety 641,025 641,025 601,859 39,166 Capital outlay 29,891 29,891 39,739 (9,848) Total expenditures 670,916 670,916 641,598 29,318 NET CHANGE IN FUND BALANCE (46,264) (46,264) 177,418 223,682 FUND BALANCE AT BEGINNING OF YEAR 46,264 46,264 1,215,087 1,168,823 FUND BALANCE AT END OF YEAR $ - $ - $ 1,392,505 $ 1,392,505 105  CITY OF FORT WALTON BEACH, FLORIDA COMMUNITY DEVELOPMENT BLOCK GRANT SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE – BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2023 Variance with Final Budget - Budgeted Amounts Positive Original Final Actual (Negative) REVENUES Intergovernmental $ 142,827 142,827 $ 251,792 $ 108,965 Total revenues 142,827 142,827 251,792 108,965 EXPENDITURES Current Economic environment 232,303 232,303 251,792 (19,489) Total expenditures 232,303 232,303 251,792 (19,489) NET CHANGE IN FUND BALANCE (89,476) (89,476) - 89,476 FUND BALANCE (DEFICIT) AT BEGINNING OF YEAR 89,476 89,476 (19,782) (109,258) FUND BALANCE (DEFICIT) AT END OF YEAR $ - $ - $ (19,782) $ (19,782) 106  CITY OF FORT WALTON BEACH, FLORIDA BEAL MEMORIAL CEMETERY PERPETUAL CARE SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE – BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2023 Variance with Final Budget - Budgeted Amounts Positive Original Final Actual (Negative) REVENUES Investment income $ - $ - $ 352,299 $ 352,299 Miscellaneous 300 300 3,184 2,884 Total revenues 300 300 355,483 355,183 EXPENDITURES Current Physical environment 14,919 14,919 11,098 3,821 EXCESS OF REVENUES OVER EXPENDITURES (14,619) (14,619) 344,385 359,004 OTHER FINANCING SOURCES (USES) Transfers in 38,400 38,400 34,618 (3,782) Transfers out (49,680) (766,377) - 766,377 Total other financing sources (uses) (11,280) (727,977) 34,618 762,595 NET CHANGE IN FUND BALANCE (25,899) (742,596) 379,003 1,121,599 FUND BALANCE AT BEGINNING OF YEAR 46,297 762,994 3,435,513 2,672,519 FUND BALANCE AT END OF YEAR $ 20,398 $ 20,398 $ 3,814,516 $ 3,794,118 107  CITY OF FORT WALTON BEACH, FLORIDA DEBT SERVICE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE – BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2023 Variance with Final Budget - Budgeted Amounts Positive Original Final Actual (Negative) REVENUES Miscellaneous $ - $ - $ - $ - Total revenues - - - - EXPENDITURES Debt service Principal 1,993,611 1,993,611 1,749,218 244,393 Interest 287,571 287,571 657,643 (370,072) Total expenditures 2,281,182 2,281,182 2,406,861 (125,679) DEFICIENCY OF REVENUES UNDER EXPENDITURES (2,281,182) (2,281,182) (2,406,861) (125,679) OTHER FINANCING SOURCES Transfers in 2,281,182 2,281,182 2,406,861 125,679 NET CHANGE IN FUND BALANCE - - - - FUND BALANCE AT BEGINNING OF YEAR - - 21,156 21,156 FUND BALANCE AT END OF YEAR $ - $ - $ 21,156 $ 21,156 108 III. STATISTICAL SECTION (UNAUDITED) This section of the City’s comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, and note disclosures say about the City’s overall financial Health. Financial Trends These schedules contain trend information to help the reader understand how the City's financial performance and well-being have changed over time. Revenue Capacity These schedules contain information to help the reader assess the City's most significant local revenue source, the property tax. Debt Capacity These schedules present information to help the reader assess the affordability of the City's current levels of outstanding debt and the City's ability to issue additional debt in the future. Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader understand the environment within which the City's financial activities take place. Operating Information These schedules contain service and infrastructure data to help the reader understand how the information in the City's financial report relates to the services the City provides and the activities it performs. Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive and annual financial reports for the relevant year.  City of Fort Walton Beach, Florida SCHEDULE 1 NET POSITION BY COMPONENT Last Ten Fiscal Years (full accrual basis of accounting) 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Governmental Activities Net investment in capital assets $ 24,866,399 $ 27,443,877 $ 27,791,054 $ 27,347,098 $ 29,375,380 $ 28,280,342 $ 28,266,271 $ 28,034,343 $ 28,661,006 $ 31,498,779 Restricted Debt service 25,449 25,449 21,156 21,156 26 - 21,156 21,156 21,156 21,156 Improvement Districts 4,073,364 1,874,265 1,437,363 1,552,484 1,812,525 1,691,456 3,060,014 4,133,412 5,234,216 6,225,881 Public safety 565,946 507,625 536,448 426,892 468,331 673,892 879,583 1,060,646 1,343,836 1,566,532 Other purposes 172,630 187,575 165,895 93,456 66,707 1,370,446 2,248,298 3,784,023 5,776,594 7,243,110 Unrestricted 10,700,661 159,868 2,158,813 (1,447,438) (2,667,720) (377,793) 4,171,642 8,279,303 8,070,651 10,278,765 Total governmental activities net position $ 40,404,449 $ 30,198,659 $ 32,110,729 $ 27,993,648 $ 29,055,249 $ 31,638,343 $ 38,646,964 $ 45,312,883 $ 49,107,459 $ 56,834,223 Business-Type Activities Net investment in capital assets $ 13,779,184 $ 12,886,793 $ 12,893,855 $ 13,818,340 $ 13,829,575 $ 13,678,160 $ 14,566,978 $ 14,023,752 $ 13,422,691 $ 15,556,733 Restricted Debt service 1,082,935 157,228 157,228 157,228 157,228 157,228 157,228 157,228 157,228 157,228 System improvements 367,263 382,734 404,761 452,472 440,212 454,564 465,123 476,154 463,361 434,824 Unrestricted 9,658,709 10,656,992 11,118,844 11,731,659 12,252,058 14,010,607 14,639,462 15,561,538 15,699,234 14,439,484 Total business-type activities net position $ 24,888,091 $ 24,083,747