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

524,720 873,101 - - 66,523 158,530 740,344 39,877 4,740,578 Miscellaneous 103,986 199,776 27,976 157,806 93,106 77,264 44,913 93,227 83,470 72,967 Investment earnings (losses) 345,734 272,076 444,972 414,160 263,824 1,225,235 1,071,190 743,927 (1,498,120) 1,638,716 Transfers 2,851,638 657,558 755,846 761,739 847,373 1,091,579 1,747,686 1,759,782 1,797,083 1,797,765 Total governmental activities 19,783,776 18,332,653 19,100,459 18,562,413 19,321,059 22,270,872 23,979,652 25,671,427 24,277,379 33,018,051 Business-type activities Gain on sale of assets 22,813 716 26,093 32,663 14,258 44,914 16,801 260,579 - 50,435 Miscellaneous 6,839 9,222 5,502 27,727 16,575 17,671 1,551 105,520 4,088 1,580 Investment earnings (losses) 55,669 159,761 165,583 85,567 9,388 713,509 624,999 31,984 (876,524) 370,227 Transfers (2,851,638) (657,558) (755,846) (761,739) (847,373) (1,091,579) (1,747,686) (1,759,782) (1,797,083) (1,797,765) Total business-type activities (2,766,317) (487,859) (558,668) (615,782) (807,152) (315,485) (1,104,335) (1,361,699) (2,669,519) (1,375,523) Total primary government $ 17,017,459 $ 17,844,794 $ 18,541,791 $ 17,946,631 $ 18,513,907 $ 21,955,387 $ 22,875,317 $ 24,309,728 $ 21,607,860 $ 31,642,528 Change in Net Position Governmental activities $ 3,049,175 $ 2,257,653 $ 1,912,070 $ (1,200,414) $ 1,061,601 $ 2,583,094 $ 7,008,621 $ 6,665,919 $ 3,794,576 $ 7,726,764 Business-type activities (3,190,409) 125,011 490,941 2,461,975 519,374 1,621,486 1,528,232 389,881 (476,158) 845,755 Total primary government $ (141,234) $ 2,382,664 $ 2,403,011 $ 1,261,561 $ 1,580,975 $ 4,204,580 $ 8,536,853 $ 7,055,800 $ 3,318,418 $ 8,572,519 Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual 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. Note: Beginning in FY13, Cost Allocations were reported as expense reductions in General Government - in prior years they were reported as transfers. Note: Beginning in FY14, the Golf Enterprise Fund was transferred into the General Fund. 111  City of Fort Walton Beach, Florida SCHEDULE 3 FUND BALANCES - GOVERNMENTAL FUNDS Last Ten Fiscal Years (modified accrual basis of accounting) 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 General Fund Nonspendable $ 262,964 $ 249,732 $ 240,865 $ 245,181 $ 250,315 $ 269,837 $ 286,427 $ 259,960 $ 284,342 $ 311,357 Restricted 4,083,267 183,512 163,817 93,456 66,707 4,497,485 2,248,298 5,712,331 6,164,287 7,243,110 Committed 5,589,056 5,761,221 6,009,523 6,687,557 6,663,230 8,019,062 8,045,739 8,649,189 10,409,244 11,556,463 Assigned 1,584,887 1,396,207 1,198,378 1,891,555 1,913,861 2,341,510 2,184,202 3,908,571 3,096,152 9,590,863 Unassigned 1,300,881 2,225,633 4,356,681 3,561,586 2,282,375 3,291,695 8,218,150 8,845,558 7,300,353 4,983,996 Total general fund $ 12,821,055 $ 9,816,305 $ 11,969,264 $ 12,479,335 $ 11,176,488 $ 18,419,589 $ 20,982,816 $ 27,375,609 $ 27,254,378 $ 33,685,789 All Other Governmental Funds Nonspendable $ 798 $ 848 $ 1,762 $ - $ - $ - $ - $ - $ - $ - Restricted 4,663,961 2,410,554 1,995,283 2,000,532 2,280,882 2,365,348 3,960,753 5,215,214 6,599,208 7,813,569 Committed 2,249,720 2,259,756 2,467,828 2,739,865 2,974,049 3,120,593 3,451,682 4,154,232 3,435,513 3,814,516 Unassigned (6,231) - - (5,861) (19,270) (31,326) (17,483) (19,782) (19,782) (19,782) Total all other governmental funds $ 6,908,248 $ 4,671,158 $ 4,464,873 $ 4,734,536 $ 5,235,661 $ 5,454,615 $ 7,394,952 $ 9,349,664 $ 10,014,939 $ 11,608,303 Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual 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. 112  City of Fort Walton Beach, Florida SCHEDULE 4 CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS Last Ten Fiscal Years (modified accrual basis of accounting) 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Revenues Taxes $ 11,537,812 $ 11,837,177 $ 11,941,311 $ 12,220,392 $ 12,741,642 $ 13,101,370 $ 13,441,866 $ 13,705,445 $ 14,378,360 $ 15,344,155 Licenses, permits, and fees 2,392,487 2,564,079 2,623,810 2,514,178 2,586,035 2,659,200 3,475,389 4,102,640 4,471,993 4,722,748 Intergovernmental 3,376,079 3,951,367 4,322,696 4,266,425 4,880,937 5,516,224 9,870,743 9,094,488 8,760,009 10,169,568 Charges for services 2,373,486 2,499,107 2,402,801 2,488,384 2,739,021 2,868,887 2,757,191 3,461,193 3,628,960 3,743,367 Fines and forfeits 133,645 131,020 121,513 127,406 101,378 94,578 93,827 77,476 117,291 237,061 Investment income (losses) - - - - - - - - (1,939,598) 1,102,761 Miscellaneous 827,526 1,142,936 935,821 1,042,958 819,264 1,770,325 1,561,538 1,358,329 910,757 1,008,493 Total Revenues 20,641,035 22,125,686 22,347,952 22,659,743 23,868,277 26,010,584 31,200,554 31,799,571 30,327,772 36,328,153 Expenditures General governmental services 2,891,275 2,813,835 3,017,374 3,228,767 3,631,410 3,377,241 3,620,756 3,632,924 3,737,220 4,407,665 Public safety 9,082,876 9,080,984 9,053,178 9,913,344 10,584,430 10,157,745 11,255,650 12,988,274 14,189,424 14,867,714 Physical environment 325,864 339,596 337,831 372,552 425,472 439,446 440,769 491,526 484,405 445,217 Transportation 867,730 862,712 852,602 890,762 762,058 824,349 723,669 741,097 890,333 938,417 Economic environment 745,586 1,730,631 1,432,788 1,468,393 1,045,687 1,282,063 1,182,887 945,657 1,006,864 1,026,839 Culture and recreation 3,744,452 4,122,310 4,196,979 4,170,787 4,477,927 4,685,690 4,929,243 4,924,696 4,880,270 5,170,888 Capital outlay 4,721,096 8,128,139 2,105,686 1,598,285 3,574,823 10,498,028 4,546,491 2,823,402 3,827,661 6,018,951 Debt service Principal 612,996 660,107 673,851 682,229 718,320 698,381 1,084,666 1,203,619 1,871,562 2,488,022