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

Actual Budget 2022-23 2023-24 % 2019-20 2020-21 2021-22 Adopted Adopted Change Other Financing Activity: 178,171 182,090 186,096 169,210 552-9901 Cost Allocation Reimbursement to General Fund 172,932 2.20% - - - 952,056 581-9999 Revenues in Excess of Expenditures 1,109,460 16.53% $ 178,171 $ 182,090 $ 186,096 $ 1,121,266 Total Other Financing Activity $ 1,282,392 14.37% $ 1,535,349 $ 1,345,768 $ 1,284,767 $ 4,281,185 TOTAL EXPENSES $ 2,847,344 -33.49% 131 109-2000-CRA 9/27/2023 6:15 PM  Utilities Fund The Utilities Fund encompasses 24.10% 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 $16 Budget. $14 2023-24 …… $ Change % Change Charges for Services 12,021,296 312,181 2.6% $12 Interest,Othr,IntrGov 36,357 (899,693) (99.2% $10 Appropriation 1,507,196 (838,815) (55.7)% Millions $13,564,849 (1,426,327) (10.5)% $8 $6 $4 $2 $0 Actual Budget Budget Budget Budget 2019-20 2020-21 2021-22 2022-23 2023-24 Licenses & Permits Intergov't Revenue Charges for Services Interest & Other Interfund Transfers Appropriations x A five-year utility rate study was implemented on October 2020; for FY 2022-23, Year 4 of the rate study will be implemented. The implementation makes sure the required rates are in place to generate sufficient revenue to sustain renewal and replacement reserves and account for debt service requirements. Expenditure Highlights $16 $14 Budget. 2023-24. …… $ Change % Change $12 Personal Services 2,955,621 165,179 5.6% $10 Operations & Maintenance 5,039,123 285,744 5.7% Millions $8 Capital Outlay/Imprvmt 1,425,00 (1,955,033) (137.2)% $6 Debt Service 2,157,095 14,152 0.7% $4 Interfund Transfers Out 1,988,009 63,631 3.2% $2 Replenish Reserves 0 0 0% $0 $13,564,849 (1,426,327) (10.5)% Actual Budget Budget Budget Budget 2019-20 2020-21 2021-22 2022-23 2023-24 Personal Services Operations & Maintenance Capital Outlay/Imprvmt Debt Service Interfund Transfers Replenish Reserves *Expenses shown on a cash basis, exclusive of reclassifications for the audited financial statements.* x The decrease in Capital Outlay/Improvement is primarily due to the replacement of water meters and Brooks Bridge water/sewer relocaion being budgeted in FY 2022-23. 132  401 UTILITIES FUND - REVENUES Actual Budget 2022-23 2023-24 % 2019-20 2020-21 2021-22 Adopted Adopted Change 2,446,054 2,519,925 2,477,793 2,487,459 1310-343-3000 Service Fees - Residential 2,543,288 2.24% 1,449,489 1,680,988 1,659,451 1,572,256 1310-343-3100 Service Fees - Commercial 1,636,558 4.09% 14,550 24,371 18,736 22,700 1500-343-3600 Connection Fees - Residential 25,000 10.13% 105,555 45,522 26,894 57,000 1500-343-3700 Connection Fees - Commercial 35,000 -38.60% - - - 26 1500-343-3810 Hydrant Service - -100.00% $ 4,015,648 $ 4,270,806 $ 4,182,875 $ 4,139,442 Total Water Operations $ 4,239,846 2.43% 4,911,286 4,798,470 4,927,008 4,902,846 1350-343-5000 Service Fees - Residential 5,157,683 5.20% 2,087,825 2,473,642 2,455,490 2,362,837 1350-343-5100 Service Fees - Commercial 2,351,767 -0.47% 15,700 11,500 13,000 13,550 1500-343-5600 Connection Fees - Residential 15,000 10.70% 130,968 46,917 2,250 75,000 1500-343-5700 Connection Fees - Commercial 40,000 -46.67% $ 7,145,778 $ 7,330,530 $ 7,397,748 $ 7,354,233 Total Sewer Operations $ 7,564,450 2.86% 2,819 2,725 5,150 2,790 0520-343-3001 Administrative Fee - Returned Checks 3,500 25.45% 81,481 94,125 59,782 87,650 1310-343-3200 Service Charges 78,500 -10.44% 90,747 137,151 285,282 125,000 1310-343-3300 Penalties 135,000 8.00% $ 175,047 $ 234,001 $ 350,215 $ 215,440 Total Combined Operations $ 217,000 0.72% $ 11,336,473 $ 11,835,336 $ 11,930,837 $ 11,709,115 TOTAL CHARGES FOR SERVICES $ 12,021,296 2.67% 2,940 3,815 6,748 - 1310-324-2100 Impact Fees - Water - Residential - 0.00% 23,152 59,369 16,287 - 1310-324-2200 Impact Fees - Water - Commercial - 0.00% 3,389 1,805 2,310 - 1350-324-2100 Impact Fees - Sewer - Residential - 0.00% 27,041 24,974 5,700 - 1350-324-2200 Impact Fees - Sewer - Commercial - 0.00% $ 56,523 $ 89,964 $ 31,045 $ - Total Licenses & Permits $ - 0.00% $ 56,523 $ 89,964 $ 31,045 $ - TOTAL LICENSES & PERMITS $ - 0.00% - - - 900,000 331-XXX-XXXX Federal Grants - 100.00% $ - $ - $ - $ 900,000 Total Federal Grants $ - 0.00% $ - $ - $ - $ 900,000 TOTAL INTERGOVERNMENTAL REVENUE $ - 100.00% 259,160 153,990 139,295 12,500 1500-361-1000 Interest Income 12,500 0.00% - - 6,765 - 1500-361-1099 GASB87 Interest - 0.00% $ 259,160 $ 153,990 $ 146,060 $ 12,500 Total Interest Income $ 12,500 0.00% 19,558 21,349 13,984 21,600 1500-362-2020 Rental and Lease Income 22,107 2.35% $ 19,558 $ 21,349 $ 13,984 $ 21,600 Total Rents and Royalties $ 22,107 2.35% 8,000