Fort Walton Beach — Fiscal Year 2024-25 Adopted Budget — reading text

City of Fort Walton Beach Digital Budget Book Last updated 10/01/24 City of Fort Walton Beach | Budget Book 2025 Page 1 TABLE OF CONTENTS Introduction 3 Cover Page 4 Transmittal Letter 9 Demographics 15 Budget Overview 19 Budget Overview 20 Executive Budget Summary 37 Revenue Trends - All Funds 42 Revenues 43 Expenditure Trends - All Funds 47 Expenditures 48 Performance Measures & Metrics 51 IT Computer 5 Year Replacement Plan 88 Fleet Replacement Schedule 125 Proforma 401 136 Proforma 403 137 Proforma 405 138 Resolution 2024-14 Budget 139 Resolution 2024-15 Carryovers 140 FY 2024-25 Special Project Carryovers 142 FY 2024-25 Encumbrance Carryovers 143 Fund Summaries 145 All Funds Summary 146 General Fund (Major Fund) 159 Law Enforcement Trust Fund 194 Law Enforcement Training Fund 204 Community Development Block Fund 214 Community Redevelopment Fund 224 Florida Bldg Code Fund 234 TDC Fund 244 1/2 Cent Sales Tax Fund 254 Cemeteries Perp Care Fund 264 Utility Enterprise (Water & Sewer) Fund (Major Fund) 274 Sanitation Enterprise Fund (Major Fund) 284 Stormwater Enterprise Fund 294 Capital Improvements 304 One year plan 305 Multi-year plan 309 Appendix 313 1/2 Cent Sales Tax Requests 314 Community Redevelopment Agency Requests 333 Culture & Recreation Requests 340 Police Requests 344 Public Works & Utility Services Requests 347 Sewer Collection System Requests 354 Glossary 358 City of Fort Walton Beach | Budget Book 2025 Page 2  INTRODUCTION City of Fort Walton Beach | Budget Book 2025 Page 3 City of Fort Walton Beach | Budget Book 2025 Page 4 City of Fort Walton Beach | Budget Book 2025 Page 5 City of Fort Walton Beach | Budget Book 2025 Page 6 City of Fort Walton Beach | Budget Book 2025 Page 7 City of Fort Walton Beach | Budget Book 2025 Page 8 City of Fort Walton Beach | Budget Book 2025 Page 9 City of Fort Walton Beach | Budget Book 2025 Page 10 City of Fort Walton Beach | Budget Book 2025 Page 11 City of Fort Walton Beach | Budget Book 2025 Page 12 City of Fort Walton Beach | Budget Book 2025 Page 13 City of Fort Walton Beach | Budget Book 2025 Page 14  Population Overview TOTAL POPULATION GROWTH RANK 21,120 1% vs. 2022 3 out of 414 Municipalities in Florida 23k 22k 21k 20k 19k 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 * Data Source: Client entered data for year 2023 DAYTIME POPULATION Daytime population represents the effect of persons coming into or 25,999 leaving a community for work, entertainment, shopping, etc. during the typical workday. An increased daytime population puts greater demand on host community services which directly impacts operational costs. * Data Source: American Community Survey 5-year estimates POPULATION BY AGE GROUP <5 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-59 60-64 65-74 75-84 >85 Aging affects the needs and lifestyle choices of residents. Municipalities must adjust and plan services accordingly. * Data Source: American Community Survey 5-year estimates City of Fort Walton Beach | Budget Book 2025 Page 15  Household Analysis TOTAL HOUSEHOLDS Municipalities must consider the dynamics of household types to plan for and provide 8,840 services effectively. Household type also has a general correlation to income levels which affect the municipal tax base. Family Households Married Couples 42% 39% 11% 16% lower than state average lower than state average Singles Senior Living Alone 36% 20% 27% 26% higher than state average higher than state average * Data Source: American Community Survey 5-year estimates City of Fort Walton Beach | Budget Book 2025 Page 16  Economic Analysis Household income is a key data point in evaluating a community’s wealth and spending power. Pay levels and earnings typically vary by geographic regions and should be looked at in context of the overall cost of living. HOUSEHOLD INCOME Over $200,000 $150,000 to $200,000 Above $200,000 $125,000 to $150,000 $100,000 to $125,000 6% 31% $75,000 to $100,000 lower than state average Median Income $61,820 $50,000 to $75,000 9% lower than state average $25,000 to $50,000 Below $25,000 Below $25,000 15% 12% lower than state average * Data Source: American Community Survey 5-year estimates City of Fort Walton Beach | Budget Book 2025 Page 17  Housing Overview 2022 MEDIAN HOME VALUE HOME OWNERS VS RENTERS $272,400 Fort Walton Beach State Avg. 300k 250k 200k 150k 33% Rent 39% 90 01 11 21 31 41 51 61 71 81 91 02 12 22 02 02 02 02 02 02 02 02 02 02 02 02 02 02 Rent * Data Source: 2022 US Census Bureau (http://www.census.gov/data/developers/data- sets.html), American Community Survey. Home value data includes all types of owner-occupied housing. HOME VALUE DISTRIBUTION > $1,000,000 $750,000 to $999,999 $500,000 to $749,999 $400,000 to $499,999 $300,000 to $399,999 $250,000 to $299,999 $200,000 to $249,999 $150,000 to $199,999 $100,000 to $149,999 $50,000 to $99,999 61% 67% < $49,999