Fort Walton Beach — Comprehensive Financial Report September 30, 2021 — reading text

34,652 10 5,000 392,118 12,000 - 21,300 36,701 51,039 Culture and recreation 400,215 374,362 1,853,087 1,930,131 1,805,332 1,846,019 2,078,405 2,171,484 2,095,326 2,572,448 Operating grants and contributions 589,253 786,652 682,200 909,461 908,595 825,624 706,094 765,032 4,049,001 2,348,391 Capital grants and contributions 156,794 80,936 109,629 525,320 802,809 361,641 1,487,587 37,406 232,491 186,874 Total governmental activities program revenues 2,566,457 2,853,560 4,133,897 4,832,340 5,432,585 4,704,742 5,873,427 4,814,773 9,061,080 8,588,216 Business-type activities Charges for services Utilities 7,974,601 8,623,082 8,586,045 9,233,820 10,141,724 10,970,823 10,737,496 11,390,289 11,356,045 11,856,685 Sanitation 3,313,559 3,499,559 3,571,037 3,582,005 3,599,838 3,663,445 3,774,519 3,871,204 3,934,207 4,381,765 Golf 1,776,649 1,758,709 - - - - - - - - Stormwater 577,706 591,196 596,133 694,581 860,644 917,844 975,805 1,027,310 1,035,033 1,035,527 Operating grants and contributions - 1,071 - - - - - - - - Capital grants and contributions 331,609 1,871,295 (157,294) 87,797 533,515 1,314,521 151,049 93,282 211,962 89,963 Total business-type activities program revenues 13,974,124 16,344,912 12,595,921 13,598,203 15,135,721 16,866,633 15,638,869 16,382,085 16,537,247 17,363,940 Total primary government program revenues $ 16,540,581 $ 19,198,472 $ 16,729,818 $ 18,430,543 $ 20,568,306 $ 21,571,375 $ 21,512,296 $ 21,196,858 $ 25,598,327 $ 25,952,156 Continued… 108  City of Fort Walton Beach, Florida SCHEDULE 2 CHANGES IN NET POSITION Last Ten Fiscal Years (full accrual basis of accounting) 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Net (Expense)/Revenue Governmental activities $ (17,372,015) $ (15,679,827) $ (16,734,601) $ (16,075,000) $ (17,188,389) $ (19,762,827) $ (18,259,458) $ (19,687,778) $ (16,971,031) $ (19,005,508) Business-type activities 1,706,322 2,901,886 (424,092) 612,870 1,049,609 3,077,757 1,326,526 1,936,971 2,632,567 1,751,580 Total primary government $ (15,665,693) $ (12,777,941) $ (17,158,693) $ (15,462,130) $ (16,138,780) $ (16,685,070) $ (16,932,932) $ (17,750,807) $ (14,338,464) $ (17,253,928) General Revenues and Other Changes in Net Position Governmental activities Taxes Property taxes $ 4,295,068 $ 4,175,136 $ 5,385,235 $ 5,473,438 $ 5,617,998 $ 5,807,598 $ 6,041,303 $ 6,416,668 $ 6,573,751 $ 6,608,861 Sales taxes 2,198,270 2,241,242 2,362,190 2,557,062 2,707,153 2,792,840 2,941,301 4,335,114 4,940,279 6,021,460 Utility service taxes 3,739,311 3,761,437 3,889,976 4,036,009 3,931,939 3,962,859 4,182,026 4,045,085 4,024,523 4,136,505 Tax Increments for Redevelopment district 1,386,521 1,311,101 1,501,208 1,552,560 1,628,439 1,649,589 1,811,121 1,893,803 2,369,529 2,320,213 Franchise Fees 1,876,575 1,764,733 2,004,101 2,162,617 2,202,420 2,034,209 2,131,104 2,084,717 2,070,302 2,146,088 Intergovernmental, unrestricted 809,756 818,039 819,556 896,837 910,615 981,613 1,009,901 1,034,884 978,949 1,101,020 Gain on sale of assets 16,440 37,833 520,152 524,720 873,101 - - 66,523 158,530 740,344 Miscellaneous 154,996 106,546 103,986 199,776 27,976 157,806 93,106 77,264 44,913 93,227 Investment earnings 159,465 62,285 345,734 272,076 444,972 414,160 263,824 1,225,235 1,071,190 743,927 Special item: Impairment loss - (271,287) - - - - - - - - Transfers 1,656,032 (2,145,441) 2,851,638 657,558 755,846 761,739 847,373 1,091,579 1,747,686 1,759,782 Total governmental activities 16,292,434 11,861,624 19,783,776 18,332,653 19,100,459 18,562,413 19,321,059 22,270,872 23,979,652 25,671,427 Business-type activities Gain on sale of assets 35,111 20,662 22,813 716 26,093 32,663 14,258 44,914 16,801 260,579 Miscellaneous 48,550 6,504 6,839 9,222 5,502 27,727 16,575 17,671 1,551 105,520 Investment earnings 69,622 11,107 55,669 159,761 165,583 85,567 9,388 713,509 624,999 31,984 Special item: Impairment loss (588,652) (786,713) - - - - - - - - Transfers (1,656,032) 2,145,441 (2,851,638) (657,558) (755,846) (761,739) (847,373) (1,091,579) (1,747,686) (1,759,782) Total business-type activities (2,091,401) 1,397,001 (2,766,317) (487,859) (558,668) (615,782) (807,152) (315,485) (1,104,335) (1,361,699) Total primary government $ 14,201,033 $ 13,258,625 $ 17,017,459 $ 17,844,794 $ 18,541,791 $ 17,946,631 $ 18,513,907 $ 21,955,387 $ 22,875,317 $ 24,309,728 Change in Net Position Governmental activities $ (1,079,581) $ (3,818,203) $ 3,049,175 $ 2,257,653 $ 1,912,070 $ (1,200,414) $ 1,061,601 $ 2,583,094 $ 7,008,621 $ 6,665,919 Business-type activities (385,079) 4,298,887 (3,190,409) 125,011 490,941 2,461,975 519,374 1,621,486 1,528,232 389,881 Total primary government $ (1,464,660) $ 480,684 $ (141,234) $ 2,382,664 $ 2,403,011 $ 1,261,561 $ 1,580,975 $ 4,204,580 $ 8,536,853 $ 7,055,800 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. 109  City of Fort Walton Beach, Florida SCHEDULE 3 FUND BALANCES - GOVERNMENTAL FUNDS Last Ten Fiscal Years (modified accrual basis of accounting) 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 General Fund Nonspendable $ 2,857,963 $ 254,229 $ 262,964 $ 249,732 $ 240,865 $ 245,181 $ 250,315 $ 269,837 $ 286,427 $ 259,960 Restricted 194,193 7,868,522 4,083,267 183,512 163,817 93,456 66,707 4,497,485 2,248,298 5,712,331 Committed 5,040,585 5,501,353 5,589,056 5,761,221 6,009,523 6,687,557 6,663,230 8,019,062 8,045,739 8,649,189