Fort Walton Beach — Fiscal Year 2021-22 Adopted Budget — reading text

Revenue Highlights $1,800,000 Budget. $1,600,000 2021-22. …… $ Change % Change $1,400,000 Interfund Transfers In 1,685,496 608,917 36.1% $1,200,000 $1,685,496 608,917 36.1% $1,000,000 $800,000 $600,000 $400,000 $200,000 $0 Actual Actual Actual Budget Budget 2017-18 2018-19 2019-20 2020-21 2021-22 Interfund Transfers  Transfers from the General Fund cover annual debt payments as required per Generally Accepted Accounting Principles (GAAP) for governmental funds. Expenditure Highlights $2,000,000 $1,800,000 Budget. $1,600,000 ……2021-22 $ Change % Change $1,400,000 Debt Service 1,685,496 608,917 36.1% $1,200,000 $1,685,496 608,917 36.1% $1,000,000 $800,000 $600,000 $400,000 $200,000 $0 Actual Actual Actual Budget Budget 2017-18 2018-19 2019-20 2020-21 2021-22 Debt Service  Debt Issues: 2011A Revenue Note – Fire Ladder Truck (Year 10 of 10) 2013 Revenue Note – Municipal Facilities (Year 9 of 18) 2013A Bank Loan – Recreation Complex, Fairway Sweeper/Vacuum, Bucket Truck (Year 9 of 15) 2015 Interfund Loan – Fire Pumper Truck (Year 8 of 10) 2018 Revenue Note – Field Office Complex (Year 3 of 19) Fire Ladder Truck (Year 2 of 3) Navitas Fitness Pro (Year 3 of 6) Irrigation System – Pines Course (Year 1 of 5) 128  201 DEBT SERVICE FUND Actual Budget 2020-21 2021-22 % 2017-18 2018-19 2019-20 Adopted Adopted Change 124,619 122,530 197,098 212,632 1600-381-0100 Transfer from General Fund 822,084 286.62% 2011 Cap Imp Rev Note -Ladder Truck- yr 10 of 10 2015 Interfund Loan -Fire Pumper- yr 8 of 10 2018 Rev Note - Field Offc Complex-yr 3 of 19 Fire Ladder Truck - yr 2 of 3 Navitas Fitness Pro - yr 3 of 6 Irrigation System Pines Course - yr 1 of 5 305,087 306,022 306,467 306,422 1600-381-1301 2013 Revenue Note -Municipal Facilities - yr 9 of 18 305,887 -0.17% 557,525 557,524 557,355 557,525 1600-381-1302 Transfer from General Fund - 2013A Sinking Fund 557,525 0.00% 2013A Bank Loan -Recreation Complex- yr 9 of 15 2013A Bank Loan -Fairway Sweep/Vac- yr 9 of 10 2013A Bank Loan -Bucket Truck- yr 9 of 10 $ 987,231 $ 986,077 $ 1,060,920 $ 1,076,579 Total Interfund Transfers $ 1,685,496 56.56% $ 987,231 $ 986,077 $ 1,060,920 $ 1,076,579 TOTAL TRANSFERS IN $ 1,685,496 56.56% $ 987,231 $ 986,077 $ 1,060,920 $ 1,076,579 TOTAL FUND REVENUES $ 1,685,496 56.56% Debt Service: 718,320 718,109 1,084,961 799,647 2100-517-7100 Principal Payments 1,390,095 73.84% 2011 Cap Imp Rev Note -Ladder Truck- yr 10 of 10 2013 Revenue Note -Municipal Facilities Police- yr 9 of 18 2013 Revenue Note -Municipal Facilities Fire- yr 9 of 18 2013 Revenue Note -Municipal Facilities Library- yr 9 of 18 2013 Revenue Note -Municipal Facilities General- yr 9 of 18 2013A Bank Loan -Recreation Complex- yr 9 of 15 2013A Bank Loan -Fairway Sweep/Vac- yr 9 of 10 2013A Bank Loan -Bucket Truck- yr 9 of 10 2015 Interfund Loan -Fire Pumper- yr 8 of 10 2018 Rev Note - Field Offc Complex-yr 3 of 19 Fire Ladder Truck - yr 2 of 3 Navitas Fitness Pro - yr 3 of 6 Irrigation System Pines Course - yr 1 of 5 290,040 542,357 729,139 276,932 2100-517-7200 Interest Expense 295,401 6.67% 2011 Cap Imp Rev Note -Ladder Truck- yr 10 of 10 2013 Revenue Note -Municipal Facilities Police- yr 9 of 18 2013 Revenue Note -Municipal Facilities Fire- yr 9 of 18 2013 Revenue Note -Municipal Facilities Library- yr 9 of 18 2013 Revenue Note -Municipal Facilities General- yr 9 of 18 2013A Bank Loan -Recreation Complex- yr 9 of 15 2013A Bank Loan -Fairway Sweep/Vac- yr 9 of 10 2013A Bank Loan -Bucket Truck- yr 9 of 10 2015 Interfund Loan -Fire Pumper- yr 8 of 10 2018 Rev Note - Field Offc Complex-yr 3 of 19 Fire Ladder Truck - yr 2 of 3 Navitas Fitness Pro - yr 3 of 6 Irrigation System Pines Course - yr 1 of 5 $ 1,008,360 $ 1,260,466 $ 1,814,100 $ 1,076,579 Total Debt Service $ 1,685,496 56.56% $ 1,008,360 $ 1,260,466 $ 1,814,100 $ 1,076,579 TOTAL FUND EXPENSES $ 1,685,496 56.56% $ (21,130) $ (274,389) $ (753,180) $ - NET REVENUE / (EXPENSE) $ - 0.00% 201-Debt 8/23/2021 4:45 PM 129  Utilities Fund The Utilities Fund encompasses 25.70% of the City’s activities and services and accounts for water production and distribution and sewer collection and treatment. These activities are financed and operate in a manner similar to a private business – where the intent is that the cost (expenses, including depreciation) of providing the services to the public on a continuing basis be financed and recovered through user charges. Revenue Highlights $12 Budget. 2021-22 …… $ Change % Change $10 Charges for Services 11,619,894 91,362 0.8% Interest & Other 48,000 (42,551) (88.6)%