Fort Walton Beach Council agenda — 03-22-11 regular — reading text

173, 370 555, 698 904, 645 644, 639 General Revenue: Property Taxes 4, 380,221 4, 631, 028 4, 380, 221 4, 631, 028 lL'lL' LLLL QQ Other Taxes 5, 857, 699 5, 432, 650 4, 597 5, 857, 699 5, 437, 247 UU O_ O_ Other Revenue 2, 153, 573 1, 036, 619 436, 522 580, 468 2, 590, 095 1, 617, 087 mm OO Total Revenues 17, 770, 644 16, 672, 909 13, 277, 968 13, 764, 734 31, 048, 612 30, 437, 643 ONON Expenses LLLL Primary Government: 4—4—OO CC OO General Government 5, 306, 003 4, 625, 871 5, 306, 003 4, 625, 871 RR Public Safety 9, 231, 632 9, 908, 644 9, 231, 632 wCwC 9, 908, 644 dU)Ud) dd Physical Environment 304, 907 350,374 304, 907 350, 374 a`a` Transportation 1, 543, 310 1, 672, 741 1, 543, 310 1, 672, 741 rr OO rr Economic Development 98, 996 266, 132 98, 996 266, 132 Culture & Recreation 2, 944, 221 3, 028, 285 2, 944,221 3, 028, 285 CC Debt Service Interest LLLL 240, 940 247, 703 240, 940 247, 703 MM Business -Type Activities: LLLL OO Utilities 6, 725, 349 5, 474, 550 6, 725, 349 5, 474, 550 rr Sanitation ON 2, 466, 881 2, 493, 357 2, 466, 881 2, 493, 357 ww CC aiai Golf 2, 203, 739 2, 479, 804 2, 203, 739 2, 479, 804 EE Other 374, 951 469,421 374, 951 469,421 svsv RR Total Expenses 19, 670, 009 20, 099, 750 11, 770, 920 10, 917, 132 31, 440, 929 31, 016, 882 QQ Increase in Net Assets before Transfers 1, 899, 365) 3, 426, 841) 1, 507, 048 2, 847, 602 392, 317) 579, 239) Transfers 1, 667, 644 2, 310, 464 1, 667, 644 2, 310, 464 Special Item - Impairment Loss 3, 836, 055) 3, 836, 055) Increase (Decrease) in Net Assets 231, 721) 1, 116, 377) 160, 596) 3, 298, 917) 392, 317) 4, 415, 294) Net Assets— 10/ 01/ 09 32, 550, 570 33, 666, 947 26, 423, 455 29, 722, 372 58, 974,025 63, 389, 319 Net Assets —09/ 30/ 10 32, 318, 849 32, 550, 570 26,262, 859 26, 423, 455 58, 581, 708 58, 974, 025 77 Current Year Impacts —Governmental Activities Governmental activities decreased the City' s net assets by $231, 722, thereby accounting for 0. 71% of the total decline in net assets for the fiscal year ended September 30, 2010. Key elements of this change are as follows: Operating grants for governmental activities decreased $ 479, 663 or 42. 9% primarily due to decreased funding from the library cooperative and the Community Development Block Grant, as well as additional reimbursement from FEMA for Hurricane Ivan closeout received in the prior year. Capital grants for governmental activities increased $ 642, 334 or 722. 2% due to funding received through the American Recovery and Reinvestment Act. Other revenue for governmental activities increased $ 1, 116, 954 or 107. 7 %. Municipal revenue sharing, interest income, disposal of assets, insurance proceeds, donations and other miscellaneous revenue sources comprise this revenue category. The sale of property to Waste Management and increased donations and municipal revenue sharing account for this increase. Overall, expenses for governmental activities decreased $ 429, 741 or 2. 1% primarily due to increased fiscal control of expenditures due to the recessionary economy, a portion of which was offset by payments to employees' for early retirement incentives. Economic Environment experienced a decrease of $ 167, 136 or 62. 8% due to prior year funding received for projects through the Community Development Block Grant. Inter -fund transfers from the business -type activities decreased $ 642, 820 or 27. 8% as a result of an updated cost allocation plan and a decrease in the amount of surplus funds transferred to support general City operations. Chart 1 Expenses and Program Revenue —Governmental Activities 10, 000,000 9, 000,000 8, 000,000 7, 000, 000 6, 000, 000 5, 000, 000 4, 000, 000 3, 000, 000 2, 000, 000 1, 000, 000 0 General Public Safety Physical Transportation Economic Culture 8 Debt Service Government Environment Development Recreation Interest a Expenses Program Revenue N.  Chart 2 Revenues by Source —Governmental Activities Other Revenue 8% un S for Services 3% Operating Grants & Contributions Other Taxes 4% 22% apical Grant; & Contributions 4% 24% T_ 00 Current Year Impacts —Business — Type Activities Business -type activities decreased the City' s net assets by $ 160, 596, thereby accounting for 0. 61% of the total decline in net assets for the fiscal