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

$ 24,574,688 $ 26,159,699 $ 26,679,073 $ 28,300,559 $ 29,828,791 $ 30,218,672 $ 29,742,514 $ 30,588,269 Primary Government Net investment in capital assets $ 38,645,583 $ 40,330,670 $ 40,684,909 $ 41,165,438 $ 43,204,955 $ 41,958,502 $ 42,833,249 $ 42,058,095 $ 42,083,697 $ 47,055,512 Restricted 6,287,587 3,134,876 2,722,851 2,703,688 2,945,029 4,347,586 6,831,402 9,632,619 12,996,391 15,648,731 Unrestricted 20,359,370 10,816,860 13,277,657 10,284,221 9,584,338 13,632,814 18,811,104 23,840,841 23,769,885 24,718,249 Total primary government net position $ 65,292,540 $ 54,282,406 $ 56,685,417 $ 54,153,347 $ 55,734,322 $ 59,938,902 $ 68,475,755 $ 75,531,555 $ 78,849,973 $ 87,422,492 Sources: Unless otherwise noted, the information in these schedules is derived from the annual comprehensive financial reports for the relevant year. The City implemented GASB Statement 34 in 2002; schedules presenting government-wide information include information beginning in that year. 109  City of Fort Walton Beach, Florida SCHEDULE 2 CHANGES IN NET POSITION Last Ten Fiscal Years (full accrual basis of accounting) 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Expenses Governmental activities General government $ 3,179,768 $ 2,735,875 $ 3,285,039 $ 3,581,072 $ 3,799,439 $ 3,559,619 $ 4,182,204 $ 4,222,810 $ 4,318,011 $ 5,321,980 Public safety 9,685,621 9,562,140 10,172,215 11,507,059 11,420,904 11,159,777 12,040,368 13,746,451 14,020,586 19,077,377 Physical environment 392,255 379,334 430,490 543,287 505,458 519,126 497,072 547,701 531,268 531,784 Transportation 1,495,374 1,474,209 1,494,178 1,536,979 1,401,819 1,406,227 1,268,589 1,253,402 1,401,797 1,385,178 Economic environment 803,175 1,813,782 1,540,230 1,591,643 1,174,794 1,412,332 1,317,571 1,131,722 1,194,625 1,217,467 Culture and recreation 4,829,004 4,601,503 5,375,183 5,403,198 5,538,881 5,781,339 5,999,273 5,990,714 6,103,857 6,545,449 Debt service interest 483,301 340,497 323,639 304,331 291,590 664,131 727,034 700,924 716,930 728,062 Total government activities 20,868,498 20,907,340 22,620,974 24,467,569 24,132,885 24,502,551 26,032,111 27,593,724 28,287,074 34,807,297 Business-type activities Utilities 9,185,338 9,205,259 10,066,769 9,420,248 9,810,437 9,961,949 9,315,619 10,574,909 10,480,961 10,003,984 Sanitation 3,393,269 3,319,760 3,407,992 3,687,087 3,774,624 3,720,984 3,824,136 3,996,753 4,142,106 4,774,632 Stormwater 439,191 460,314 611,351 681,541 727,282 762,181 764,925 1,040,698 1,035,826 967,922 Total business-type activities 13,020,013 12,985,333 14,086,112 13,788,876 14,312,343 14,445,114 13,904,680 15,612,360 15,658,893 15,746,538 Total primary government expenses $ 33,888,511 $ 33,892,673 $ 36,707,086 $ 38,256,445 $ 38,445,228 $ 38,947,665 $ 39,936,791 $ 43,206,084 $ 43,945,967 $ 50,553,835 Program Revenues Governmental activities Charges for services General government $ 476,824 $ 421,987 $ 421,503 $ 448,911 $ 434,820 $ 508,494 $ 532,475 $ 550,688 $ 354,235 $ 291,558 Public safety 495,111 490,379 523,163 570,556 532,536 643,944 1,440,937 1,883,415 2,204,959 2,296,942 Physical environment 376,998 409,253 371,205 399,338 387,821 414,695 415,266 724,582 535,838 486,857 Transportation 140,038 140,809 207,860 240,653 246,164 252,418 258,883 270,779 288,888 198,547 Economic environment 10 5,000 392,118 12,000 - 21,300 36,701 51,039 46,413 47,806 Culture and recreation 1,853,087 1,930,131 1,805,332 1,846,019 2,078,405 2,171,484 2,095,326 2,572,448 2,787,760 3,076,149 Operating grants and contributions 682,200 909,461 908,595 825,624 706,094 765,032 4,049,001 2,348,391 1,460,346 1,866,820 Capital grants and contributions 109,629 525,320 802,809 361,641 1,487,587 37,406 232,491 186,874 125,832 1,251,331 Total governmental activities program revenues 4,133,897 4,832,340 5,432,585 4,704,742 5,873,427 4,814,773 9,061,080 8,588,216 7,804,271 9,516,010 Business-type activities Charges for services Utilities 8,586,045 9,233,820 10,141,724 10,970,823 10,737,496 11,390,289 11,356,045 11,856,685 11,944,833 11,790,008 Sanitation 3,571,037 3,582,005 3,599,838 3,663,445 3,774,519 3,871,204 3,934,207 4,381,765 4,824,130 5,018,548 Stormwater 596,133 694,581 860,644 917,844 975,805 1,027,310 1,035,033 1,035,527 1,037,228 1,036,590 Capital grants and contributions (157,294) 87,797 533,515 1,314,521 151,049 93,282 211,962 89,963 46,063 122,670 Total business-type activities program revenues 12,595,921 13,598,203 15,135,721 16,866,633 15,638,869 16,382,085 16,537,247 17,363,940 17,852,254 17,967,816 Total primary government program revenues $ 16,729,818 $ 18,430,543 $ 20,568,306 $ 21,571,375 $ 21,512,296 $ 21,196,858 $ 25,598,327 $ 25,952,156 $ 25,656,525 $ 27,483,826 Continued… 110  City of Fort Walton Beach, Florida SCHEDULE 2 CHANGES IN NET POSITION Last Ten Fiscal Years (full accrual basis of accounting) 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Net (Expense)/Revenue Governmental activities $ (16,734,601) $ (16,075,000) $ (17,188,389) $ (19,762,827) $ (18,259,458) $ (19,687,778) $ (16,971,031) $ (19,005,508) $ (20,482,803) $ (25,291,287) Business-type activities (424,092) 612,870 1,049,609 3,077,757 1,326,526 1,936,971 2,632,567 1,751,580 2,193,361 2,221,278 Total primary government $ (17,158,693) $ (15,462,130) $ (16,138,780) $ (16,685,070) $ (16,932,932) $ (17,750,807) $ (14,338,464) $ (17,253,928) $ (18,289,442) $ (23,070,009) General Revenues and Other Changes in Net Position Governmental activities Taxes Property taxes $ 5,385,235 $ 5,473,438 $ 5,617,998 $ 5,807,598 $ 6,041,303 $ 6,416,668 $ 6,573,751 $ 6,608,861 $ 7,025,573 $ 7,618,352 Sales taxes 2,362,190 2,557,062 2,707,153 2,792,840 2,941,301 4,335,114 4,940,279 6,021,460 6,401,055 6,142,151 Utility service taxes 3,889,976 4,036,009 3,931,939 3,962,859 4,182,026 4,045,085 4,024,523 4,136,505 4,294,415 4,515,669 Tax Increments for Redevelopment district 1,501,208 1,552,560 1,628,439 1,649,589 1,811,121 1,893,803 2,369,529 2,320,213 2,404,122 2,668,386 Franchise fees 2,004,101 2,162,617 2,202,420 2,034,209 2,131,104 2,084,717 2,070,302 2,146,088 2,355,837 2,415,585 Intergovernmental, unrestricted 819,556 896,837 910,615 981,613 1,009,901 1,034,884 978,949 1,101,020 1,374,067 1,407,882 Gain on sale of assets 520,152