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

Net Total Other Total Allowance for Receivables Funds Accounts Governments Receivables Doubtful Accounts Sept. 30, 2013 General $ 213,936 $ 2,785,454 $ 2,999,390 $ - $ 2,999,390 County Transportation 275 430,707 430,982 - 430,982 Tourist Development 1,076,463 211,263 1,287,726 - 1,287,726 Capital Outlay 24 - 24 - 24 Water and Sewer 2,310,432 543,439 2,853,871 (190,000) 2,663,871 Airport 1,487,232 1,411,463 2,898,695 (557,095) 2,341,600 Solid Waste 677,277 31,872 709,149 - 709,149 Conference Center 707 - 707 - 707 Nonmajor and Other Funds 9,810,096 1,662,494 11,472,590 (5,027,309) 6,445,281 Total $ 15,576,442 $ 7,076,692 $ 22,653,134 $ (5,774,404) $ 16,878,730 Governmental funds report deferred revenue in connection with receivables for revenues that are not considered to be available to liquidate liabilities of the current period. Governmental funds also defer revenue recognition in connection with resources that have been received, but not yet earned. At the end of the current fiscal year, the various components of deferred revenue and unearned revenue reported in the governmental funds were as follows. Unavailable Unearned General Fund Grant Revenue $ 99,963 $ 36,878 Rent/Commissions Received in Advance - 273,560 Nonmajor Funds Grant Revenue 530,291 - Federal Forfeitures - 645,480 Courts Special Revenue - 373,751 Total deferred/unearned revenue for governmental funds $ 630,254 $ 1,329,669 52  Okaloosa County, Florida NOTES TO FINANCIAL STATEMENTS Fiscal Year Ended September 30, 2013 NOTE 5 – CAPITAL ASSETS Capital asset activity for the year ended September 30, 2013 was as follows: Beginning Ending Balance Increases Decreases Balance Governmental activities: Capital assets, not being depreciated/amortized: Land $ 9,958,076 $ 1,600,000 $ - $ 11,558,076 Intangibles 1,146,905 - - 1,146,905 Construction in progress 2,884,441 1,322,581 (2,124,364) 2,082,658 Total capital assets, not being depreciated/amortized 13,989,422 2,922,581 (2,124,364) 14,787,639 Capital assets, being depreciated/amortized: Buildings 70,861,891 1,470,005 - 72,331,896 Improvements other than buildings 32,499,693 340,805 - 32,840,498 Intangibles 1,729,905 56,194 - 1,786,099 Machinery and equipment 54,496,467 1,672,789 (3,892,661) 52,276,595 Infrastructure 144,436,012 3,049,132 - 147,485,144 Total capital assets being depreciated/amortized 304,023,968 6,588,925 (3,892,661) 306,720,232 Less accumulated depreciation/amortization for: Buildings (21,234,307) (1,850,198) - (23,084,505) Improvements other than buildings (8,255,414) (889,992) - (9,145,406) Intangibles (1,362,161) (205,595) - (1,567,756) Machinery and equipment (43,698,925) (3,987,901) 3,893,925 (43,792,901) Infrastructure (78,681,953) (1,990,284) - (80,672,237) Total accumulated depreciation/amortization (153,232,760) (8,923,970) 3,893,925 (158,262,805) Total capital assets, being depreciated/amortized, net 150,791,208 (2,335,045) 1,264 148,457,427 Governmental activities capital assets, net $ 164,780,630 $ 587,536 $ (2,123,100) $ 163,245,066 Note: The “Increases” column includes transfers of assets purchased in prior years from business-type activities to governmental activities as well as reclassifications from completed multiyear construction projects. Therefore the amounts in the column will not be equal to capital outlay. 53  Okaloosa County, Florida NOTES TO FINANCIAL STATEMENTS Fiscal Year Ended September 30, 2013 NOTE 5 – CAPITAL ASSETS - CONTINUED Beginning Ending Balance Increases Decreases Balance Business-type activities Capital assets, not being depreciated/amortized: Land $ 11,317,940 $ - $ - $ 11,317,940 Construction in progress 16,596,394 4,976,790 (14,158,372) 7,414,812 Works of art 99,060 - - 99,060 Total capital assets, not being depreciated/amortized 28,013,394 4,976,790 (14,158,372) 18,831,812 Capital assets, being depreciated/amortized: Buildings 88,224,000 177,669 - 88,401,669 Improvements other than buildings 308,598 - - 308,598 Intangibles 887,391 20,404 (41,120) 866,675 Machinery and equipment 21,003,707 1,549,942 (1,783,076) 20,770,573 Infrastructure 309,342,930 20,118,989 (76,077) 329,385,842 Total capital assets being depreciated/amortized 419,766,626 21,867,004 (1,900,273) 439,733,357 Less accumulated depreciation/amortization for: Buildings (17,118,443) (2,252,391) - (19,370,834) Improvements other than buildings (157,802) (12,407) - (170,209) Intangibles (637,622) (106,791) 8,909 (735,504) Machinery and equipment (17,832,292) (1,160,312) 1,603,125 (17,389,479) Infrastructure (93,782,211) (8,365,154) 2,859 (102,144,506) Total accumulated depreciation/amortization (129,528,370) (11,897,055) 1,614,893 (139,810,532) Total capital assets, being depreciated/amortized, net 290,238,256 9,969,949 (285,380) 299,922,825 Business-type activities capital assets, net $ 318,251,650 $ 14,946,739 $ (14,443,752) $ 318,754,637 Depreciation expense was charged to functions/programs as follows. 54  Okaloosa County, Florida NOTES TO FINANCIAL STATEMENTS Fiscal Year Ended September 30, 2013 NOTE 5 – CAPITAL ASSETS - CONTINUED Depreciation Amortization Governmental activities: General government $ 1,789,381 $ 82,235 Public safety 2,700,173 6,537 Physical environment 76,771 - Transportation, including depreciation of general infrastructure assets 2,928,621 9,800 Economic environment 32,948 - Human services 317,041 - Culture and recreation 572,558 - Court related 252,828 107,023 Capital assets held by the government's internal service funds are charged to the various functions based on their usage of the assets 48,054 - Total depreciation expense - governmental activities $ 8,718,375 $ 205,595 Depreciation Amortization Business-type activities: Water and sewer $ 6,812,177 $ 95,778 Airport 3,902,950 11,013 Solid waste 59,988 - Convention center 534,477 - Other enterprise funds 410,107 - Total depreciation expense - governmental activities $ 11,719,699 $ 106,791 Construction Commitments Road and Other Infrastructure Improvements The Board has entered into contracts to improve parks and other infrastructure at various locations throughout the County. The contracts total $1,064,465. Cumulative expenditures total $60,504, with