Okaloosa County BOCC — May 20, 2014 — CAFR_13 — reading text

1,981,845 - Capital Outlay 1,545,644 369,415 Debt Service Principal - - Interest - - Other Debt Service Costs - - Total Expenditures 80,924,426 8,593,082 Excess (Deficiency) of Revenues Over (Under) Expenditures (3,478,379) (3,594,264)  Exhibit IV-A Capital Outlay Construction Trust Other Total Tourist Development Capital Projects Governmental Governmental Special Revenue Fund Fund Funds Funds $ 8,112,010 $ 1,481 $ 3,554,493 $ 58,009,904 361,478 - 441,416 816,294 436,429 199,881 10,752,644 30,863,164 - - 3,719,910 18,655,266 - - 468,617 476,561 915,946 36,744 683,007 3,307,732 9,825,863 238,106 19,620,087 112,128,921 - - 242,982 26,836,490 - - 2,076,571 44,072,056 - - - 1,052,328 299,996 - 1,478,292 11,660,285 3,434,195 - 110,587 4,941,758 - - 639,169 4,185,618 9,308,253 111,320 845,029 11,418,463 - - 5,176,993 7,158,838 53,313 839,536 2,619,987 5,427,895 - - 713,000 713,000 - - 1,626,624 1,626,624 - - 41,210 41,210 13,095,757 950,856 15,570,444 119,134,565 (3,269,894) (712,750) 4,049,643 (7,005,644) Continued… 23  Okaloosa County, Florida STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS For the Fiscal Year Ended September 30, 2013 County Transportation Trust Special Revenue General Fund Fund Other Financing Sources (Uses) Transfers In 2,165,162 2,695,383 Transfers Out (140,000) - Transfers Among Constitutional Officers (2,107) - Issuance of Debt - - Total Other Financing Sources (Uses) 2,023,055 2,695,383 Net Change in Fund Balances (1,455,324) (898,881) Fund Balances - Beginning 8,423,311 1,091,779 Fund Balances - Ending $ 6,967,987 $ 192,898  Exhibit IV-A Capital Outlay Construction Trust Other Total Tourist Development Capital Projects Governmental Governmental Special Revenue Fund Fund Funds Funds - 749,200 724,217 6,333,962 (598,118) (309,500) (4,891,218) (5,938,836) 431 - 1,676 - 5,000,000 - - 5,000,000 4,402,313 439,700 (4,165,325) 5,395,126 1,132,419 (273,050) (115,682) (1,610,518) 13,196,918 3,699,260 23,532,732 49,944,000 $ 14,329,337 $ 3,426,210 $ 23,417,050 $ 48,333,482 The notes to the financial statements are an integral part of this statement. 24  Exhibit IV-B Okaloosa County, Florida RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES For the Fiscal Year Ended September 30, 2013 Net change in fund balances - total governmental funds (Exhibit IV-A) $ (1,610,518) Amounts reported for governmental activities in the statement of activities are different because: Governmental funds report capital outlays as expenditures. However, in the statement of activities, the cost of those assets is allocated over their estimated useful lives as depreciation expense. This is the amount by which capital outlays ($5,427,895) exceed depreciation/amortization ($8,875,916) in the current period. (See Note 5.) (3,448,021) Revenues in the statement of activities that do not provide current financial resources are not reported as revenues in the governmental funds. Grant Revenue $ 630,254 Reversal of Prior Year Deferred Revenues (691,336) Capital Contributions 2,346,776 Gain/Loss on Disposal of Capital Assets (367,946) Net adjustment 1,917,748 Under the modified accrual basis of accounting used in the governmental funds, expenditures are not recognized for transactions that are not normally paid with expendable available financial resources. In the statement of activities, however, which is presented on the accrual basis, expenses and liabilities are reported regardless of when financial resources are available. In addition, interest on long-term debt is not recognized under the modified accrual basis of accounting until due, rather than as it accrues. This adjustment combines the net changes of the following balances: Accrued interest on bonds $ (832,558) Reversal of prior year accural of interest on bonds 799,023 Deferred debt issuance costs 39,038 Amortized deferred debt issuance costs (82,436) Claims payable 1,474,077 Compensated Absences (67,401) Other Post Employment Benefits (46,774) Net adjustment 1,282,969 Some capital additions were financed through notes. In governmental funds, note proceeds are considered a source of financing, but in the statement of net assets, note obligations are reported as liabilities. (See Note 10.) (5,000,000) Repayment of principal on bonds and other long-term debt is an expenditure in the governmental funds, but the repayment reduces long-term liabilities in the statement of net assets. (See Note 10.) 713,000 Internal service funds (See Exhibit IX) are used by the County to charge the costs of certain activities, such as insurance, compensated absences and fleet maintenance to individual funds. The net revenue or expense of the internal service funds is reported with governmental activities. (1,532,310) Change in net position of governmental activities (Exhibit II-B) $ (7,677,132) The notes to the financial statements are an integral part of this statement. 25  Exhibit V Okaloosa County, Florida GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL For the Fiscal Year Ended September 30, 2013 Variance With Final Budget Budgeted Amounts Positive Original Final Actual Amounts (Negative) Revenues Taxes $ 42,748,660 $ 43,438,660 $ 43,495,408 $ 56,748 Licenses and Permits 17,500 17,500 13,400 (4,100) Intergovernmental 13,397,586 27,903,848 17,571,645 (10,332,203) Charges for Services 13,177,627 14,227,675 14,686,409 458,734 Fines 1,500 5,518 7,944 2,426 Miscellaneous 1,305,488 2,173,506 1,671,241 (502,265) Total Revenues 70,648,361 87,766,707 77,446,047 (10,320,660) Expenditures Current General Government 27,949,706 30,099,319 26,593,508 3,505,811 Public Safety 44,648,941 47,187,250 41,995,485 5,191,765 Physical Environment 351,932 351,932 354,555 (2,623) Transportation