Okaloosa County BOCC — May 19, 2015 — Mid-Year Status of Budget

Mid-Year Accomplishments • County received an upgrade from Fitch on Bond Ratings • Upgraded both the Sales Tax Bonds and the Implied Unlimited General Obligation Rating to AA- from A+ (Outlook Stable) • Several Capital Projects in-work for complete: • Administrative Building • Crestview Courthouse • Sheriff’s Investigations Building • PJ Adams emergency overlay • Approved Tax Increment Financing for PJ Adams Corridor • W & S received Aa3/AA- from Moody’s and Fitch • Actively pursuing refunding to realize up to $6 million in savings  Mid-Year General Fund Revenue FY 15 FY 15 YTD Revenue Source Budget Actual % Realized Taxes $47,772,825 $41,535,994 87% Including ad valorem, communication services, and occupational Intergovernmental Receipts $25,476,276 $6,556,614 26% Shared revenues collected by State, including ½ cent sales tax and grants Charges for Services $7,402,264 $3,534,717 58% Cost-allocation plan services paid to general fund from enterprise, along with corrections and Sheriff fees Miscellaneous Revenues $1,995,666 $1,208,405 61% Primarily comprised of interest earnings and lease fees Other Sources $6,076,890 $3,471,728 57% Transfers of excess fees from Tax Collector, Clerk, etc.  Mid-Year Other Revenues FY 15 FY 15 YTD Revenue Source Budget Actual % Realized Airports $24,442,999 $5,181,044 21% Emergency Medical Services $7,934,443 $5,233,229 66% Solid Waste Fees $7,798,666 $3,434,143 44% Tourist Development Tax $13,400,000 $2,424,211 18% 5 “pennies” tax on all hotel rooms and residential unites which are rented for six months or less; collected by Tax Collector’s Office Water & Sewer Fees $33,962,459 $15,019,339 44%  Mid-Year General Fund Expenses FY 15 FY 15 YTD Expense Budget Actual % spent Personal Services $19,829,170 $8,975,360 45% Salaries and benefits Operating Expenses $25,867,625 $10,296,515 40% Contracts, repairs, maintenance, etc Capital Outlay $3,493,883 $679,550 19% Equipment, buildings, infrastructure Grants & Aids $2,513,155 $2,076,428 83% Department of Juvenile Justice, Social Services Non-Operating Expenses $43,994,776 $25,806,001 59% Transfers out to Sheriff, Clerk, and other Constitutional Officers  Mid-Year Other Expenses FY 15 FY 15 YTD Expenditure Source Budget Actual % Spent Airports $26,689,016 $4,487,181 17% Emergency Medical Services $8,348,747 $3,639,369 44% Solid Waste $8,615,558 $3,366,209 39% Tourist Development Department $21,793,886 $4,212,818 19% Financing tourism-related assets and promote tourism Water & Sewer $55,106,148 $15,336,032 28%