Fort Walton Beach — Fiscal Year 2023-24 Adopted Budget — reading text

Walton Beach comprises 33.8% of a citizen’s tax bill. One mill equals $1 per $1,000 of taxable property value. Over 11% of properties within the City have exemptions that enable them to pay no property taxes (i.e. homestead exemptions). Other Financing Sources Other Taxes Intergov't Revenue Fines & Forfeitures $1,176,868 $8,762,555 $6,346,782 $99,000 Ad Valorem Taxes Licenses & Permits Charges for Services Interest & Other Fund Balance / Net Assets $9,112,360 $3,290,740 $21,890,427 $635,766 $4,986,099 67% of residents & 58% of businesses will pay $50.00 or less per month in City property taxes That’s far less than two common monthly bills…. Basic Cable TV & Internet Cell Phone $55.00 $102.99 City of Fort Walton Beach, FL 33 Executive Budget Summary Revenues by Category Budget 2023-24 Budget 2022-23 Budget 2021-22 Actual 2020-21 Actual 2019-20 $0 $2 $4 $6 $8 $10 $12 $14 $16 $18 $20 $22 $24 Millions Fund Balance / Net Assets / Transfers Other Financing Sources Interest & Other Fines & Forfeitures Charges for Services Intergov't Revenue Licenses & Permits Other Taxes Ad Valorem Taxes Expenses by Category Budget 2023-24 Budget 2022-23 Budget 2021-22 Actual 2020-21 Actual 2019-20 $0 $2 $4 $6 $8 $10 $12 $14 $16 $18 Millions Other Financing Uses Debt Service Capital (net of Reclass) Culture & Recreation Economic Environment Transportation Physical Environment Public Safety General Government City of Fort Walton Beach, FL 34 Executive Budget Summary Cost of . . . Cost of . . . Cost to . . . One Police Officer, 24 Hrs/Day One Firefighter/EMT, 24 Hrs/Day Maintain 10 Acres of Park Starting Salary 48,246 Starting Salary 47,971 Salaries 32,341 Incentive Pay - Incentive Pay 200 Health Insurance 18,676 Overtime 1,009 Overtime 2,785 Pension 1,940 Holiday Worked 1,850 Holiday Worked 1,680 Federal Taxes 2,400 Health Insurance 18,676 Health Insurance 18,676 Workers Comp 1,256 Pension 25,530 Pension 22,403 Personnel $ 56,613 Federal Taxes 3,639 Federal Taxes 3,290 Workers Comp 1,723 Workers Comp 1,609 Utilities & Fuel 5,896 Personnel $ 100,673 Personnel $ 98,614 Vehicle/Equip Repa 799 Grounds Maintenan 3,840 Equipment & Supplies 4,193 Physicals,Immunizations 350 Other 1,146 Vehicle Fuel & Repair 6,972 Uniform Replacement 335 Operating $ 11,681 Insurance 827 Training/Other 1,000 Operating $ 11,992 Operating $ 1,685 Annual Recurring 68,294 Annual Recurring 112,665 Annual Recurring 100,299 ½ Ton Truck 41,000 52" Mower 19,500 Immunizations 250 Uniform 2,949 Field Rake 9,800 Radio,Uniform,Vest,Gun 2,437 Non-Recurring $ 2,949 Trailer 2,500 Vehicle & Equipment 55,000 Backpack Blower 450 Non-Recurring $ 57,687 Total Cost to Hire & 16" Chainsaw 300 Equip One Firefighter $ 103,248 Non-Recurring $ 73,550 Total Cost to Hire & Equip One Officer $ 161,619 3 Firefighters Required (min . ma n ning ) Total Cost $ 141,844 for 24 Hour Coverage x3 2 Officers Required The City has 206 acres of park for 24 Hour Coverage x2 Total Cost $ 309,743 Total Cost $ 323,238 The City has 44 firefighters The City has 54 sworn police officers City of Fort Walton Beach, FL 35  CITY OF FORT WALTON BEACH, FL Revenue Trends - All Funds Revenues by Fund $60 $55 $50 $45 $40 $35 Millions $30 $25 $20 $15 $10 $5 $0 Actual Actual Budget Budget Budget 2019-20 2020-21 2021-22 2022-23 2023-24 General Fund FL Bldg Code Fund CRA Fund Debt Service Fund Utilities Fund Sanitation Fund Stormwater Fund Actual Actual Budget Budget Budget $ % 2019-20 2020-21 2021-22 2022-23 2023-24 Variance Variance General Fund 28,804,434 32,962,460 27,697,297 30,880,869 32,745,862 1,864,993 6.04% Law Enf. Trust Fund** 29,284 22,613 12,173 12,173 300 (11,873) -97.54% Law Enf. Training Fund** 4,439 4,501 500 500 4,000 3,500 700.00% FL Bldg Code Fund 562,605 636,779 651,101 624,652 757,195 132,543 21.22% CDBG Fund 174,691 294,572 168,866 142,827 137,603 (5,224) -3.66% CRA Fund 2,443,175 2,773,051 2,437,243 4,267,997 2,847,344 (1,420,653) -33.29% Debt Service Fund 1,060,920 1,151,840 1,685,496 2,281,182 - (2,281,182) -100.00% Utilities Fund 11,680,187 12,133,278 13,583,413 14,991,176 13,564,849 (1,426,327) -9.51% Sanitation Fund 4,001,231 4,721,186 4,513,696 4,746,952 5,104,060 357,108 7.52% Stormwater Fund 1,205,939 1,044,823 1,726,249 1,096,057 1,104,068 8,011 0.73% Beal Memorial Fund** 340,932 717,963 385,317 84,997 35,317 (49,680) -58.45% Revenues 50,307,840 56,463,066 52,861,351 59,129,382 56,300,597 (2,828,785) -4.78% ** not included on chart Revenues by Category $60 $55 $50 $45 $40 $35 $30 Millions $25 $20 $15 $10 $5 $0 Actual Actual Budget Budget Budget 2019-20 2020-21 2021-22 2022-23 2023-24 Ad Valorem Taxes Other Taxes Licenses & Permits Intergov't Revenue Charges for Services Fines & Forfeitures Interest & Other Other Financing