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

Assigned 354,999 1,301,385 1,584,887 1,396,207 1,198,378 1,891,555 1,913,861 2,341,510 2,184,202 3,908,571 Unassigned 1,611,120 788,076 1,300,881 2,225,633 4,356,681 3,561,586 2,282,375 3,291,695 8,218,150 8,845,558 Total general fund $ 10,058,860 $ 15,713,565 $ 12,821,055 $ 9,816,305 $ 11,969,264 $ 12,479,335 $ 11,176,488 $ 18,419,589 $ 20,982,816 $ 27,375,609 All Other Governmental Funds Nonspendable $ - $ - $ 798 $ 848 $ 1,762 $ - $ - $ - $ - $ - Restricted 4,112,255 4,316,961 4,663,961 2,410,554 1,995,283 2,000,532 2,280,882 2,365,348 3,960,753 5,215,214 Committed 1,959,836 2,035,225 2,249,720 2,259,756 2,467,828 2,739,865 2,974,049 3,120,593 3,451,682 4,154,232 Unassigned (302) (2,745) (6,231) - - (5,861) (19,270) (31,326) (17,483) (19,782) Total all other governmental funds $ 6,071,789 $ 6,349,441 $ 6,908,248 $ 4,671,158 $ 4,464,873 $ 4,734,536 $ 5,235,661 $ 5,454,615 $ 7,394,952 $ 9,349,664 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. 110  City of Fort Walton Beach, Florida SCHEDULE 4 CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS Last Ten Fiscal Years (modified accrual basis of accounting) 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Revenues Taxes $ 10,065,983 $ 9,901,157 $ 11,537,812 $ 11,837,177 $ 11,941,311 $ 12,220,392 $ 12,741,642 $ 13,101,370 $ 13,441,866 $ 13,705,445 Licenses, permits, and fees 2,142,995 2,221,406 2,392,487 2,564,079 2,623,810 2,514,178 2,586,035 2,659,200 3,475,389 4,102,640 Intergovernmental 3,291,693 3,400,876 3,376,079 3,951,367 4,322,696 4,266,425 4,880,937 5,516,224 9,870,743 9,094,488 Charges for services 969,560 1,065,316 2,373,486 2,499,107 2,402,801 2,488,384 2,739,021 2,868,887 2,757,191 3,461,193 Fines and forfeits 142,936 241,923 133,645 131,020 121,513 127,406 101,378 94,578 93,827 77,476 Miscellaneous 537,975 431,625 827,526 1,142,936 935,821 1,042,958 819,264 1,770,325 1,561,538 1,358,329 Total Revenues 17,151,142 17,262,303 20,641,035 22,125,686 22,347,952 22,659,743 23,868,277 26,010,584 31,200,554 31,799,571 Expenditures General governmental services 3,899,740 2,514,734 2,891,275 2,813,835 3,017,374 3,228,767 3,631,410 3,377,241 3,620,756 3,632,924 Public safety 9,154,002 9,066,246 9,082,876 9,080,984 9,053,178 9,913,344 10,584,430 10,157,745 11,255,650 12,988,274 Physical environment 295,459 311,684 325,864 339,596 337,831 372,552 425,472 439,446 440,769 491,526 Transportation 966,050 1,012,387 867,730 862,712 852,602 890,762 762,058 824,349 723,669 741,097 Economic environment 652,086 1,032,659 745,586 1,730,631 1,432,788 1,468,393 1,045,687 1,282,063 1,182,887 945,657 Culture and recreation 2,383,239 2,267,141 3,744,452 4,122,310 4,196,979 4,170,787 4,477,927 4,685,690 4,929,243 4,924,696 Capital outlay 2,609,203 1,282,142 4,721,096 8,128,139 2,105,686 1,598,285 3,574,823 10,498,028 4,546,491 2,823,402 Debt service Principal 211,683 4,540,488 612,996 660,107 673,851 682,229 718,320 698,381 1,084,666 1,203,619 Interest and other costs 243,959 203,347 377,574 354,544 336,835 316,629 297,245 547,165 734,680 708,959 Total expenditures 20,415,421 22,230,828 23,369,449 28,092,858 22,007,124 22,641,748 25,517,372 32,510,108 28,518,811 28,460,154 Excess of revenue over (under) expenditures (3,264,279) (4,968,525) (2,728,414) (5,967,172) 340,828 17,995 (1,649,095) (6,499,524) 2,681,743 3,339,417 Other Financing Sources (Uses) Capital lease proceeds - 103,784 - 67,774 - - - 350,000 74,135 - Transfers in 2,284,416 673,836 1,636,165 1,721,632 1,798,184 1,794,419 1,868,634 2,353,906 3,620,644 3,723,288 Transfers out (628,384) (2,819,277) (1,241,454) (1,064,074) (1,042,338) (1,032,680) (1,021,261) (1,262,327) (1,872,958) (1,963,506) Sale of general capital assets - - - - 850,000 - - - - 748,986 Debt issuance - 12,942,539 - - - - - 12,520,000 - 2,499,320 Total other financing sources (uses) 1,656,032 10,900,882 394,711 725,332 1,605,846 761,739 847,373 13,961,579 1,821,821 5,008,088 Net change in fund balance $ (1,608,247) $ 5,932,357 $ (2,333,703) $ (5,241,840) $ 1,946,674 $ 779,734 $ (801,722) $ 7,462,055 $ 4,503,564 $ 8,347,505 Debt service as a percentage of noncapital expenditures 2.56% 22.65% 5.31% 5.08% 5.08% 4.75% 4.63% 5.66% 7.59% 7.46% 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 FY14, the Golf Enterprise Fund was transferred into the General Fund. 111  City of Fort Walton Beach, Florida SCHEDULE 5 REVENUES AND OTHER SOURCES (1) Last Ten Fiscal Years Unaudited Other Fiscal Licenses, Fees, Intergovernmental Charges for Fines and Interest and Financing Year Taxes and Permits Revenues Services Forfeitures Other Revenues Sources TOTAL 2021 $13,705,445 $4,102,640 $9,094,488 $3,461,193 $77,476 $1,358,329 $5,008,088 $36,807,659 2020 13,441,866 3,475,389 9,870,743 2,757,191 93,827 1,561,538 1,821,821 33,022,375 2019 13,101,370 2,659,200 5,516,224 2,868,887 94,578 1,770,325 15,223,906 41,234,490 2018 12,741,642 2,586,035 4,880,937 2,739,021 101,378 819,264 1,868,634 25,736,911 2017 12,220,392 2,514,178 4,266,425 2,488,384 127,406 1,042,958 1,794,419 24,454,162 2016 11,941,311 2,623,810 4,322,696 2,402,801 121,513 935,821 2,648,184 24,996,136 2015 11,837,177 2,564,079 3,951,367 2,499,107 131,020 1,142,936 1,789,406 23,915,092 2014 11,537,812 2,392,487 3,376,079 2,373,486 133,645 827,526 1,636,165 22,277,200 2013 9,901,157 2,221,406 3,400,876 1,065,316 241,923 431,625 13,720,159 30,982,462