Fort Walton Beach Council agenda — 08-12-13--special--budget — reading text

valuation. The City does not currently have any general obligation debt. The City will use special assessment revenue bonds or other self -supporting bonds where possible and appropriate to finance long -term, non -recurrent capital improvements, rather than general obligation bonds. Packo- ` 35 27  5.t. a Budget Overview The City will establish and maintain effective communications with bond rating agencies to keep them informed of its financial condition. Debt Capacity - The debt capacity of both the General Fund and Utilities Fund is contingent upon available resources and existing debt. The current outstanding debt requires a coverage ratio of 1. 25 time earnings. The General Fund is at 12. 09 and the Utilities Fund is at 2. 99. The Sanitation and Stormwater funds are debt -free. Debt Ratio - Indicates the percentage of assets financed via debt, and therefore the financial flexibility of the fund. A, unel Anual Bud x1 Fl" A1U FY 2012 FY 2013 FY General Fund 129% 1401, 137% 14J% 331 3344% Utilities Fund 3Z. 6% 330% 33. 0'% J; 1% Gulf Fund 814% 871% 979% 45 Sn- walerFund 1. 49 0. 0% O. Un % 10. 2°% Debt Rating - The City maintains a AA rating with both StKato ed oors and Fitch. Pf V, DebtDebt PrincipalPrincipal andand byby FundFund GcwnlGcwnl YwJYwJ una,"una," funUfunU sarisari vlurvmlvlurvml Tnml YiacalYiacal y,y, Pdur,Pdur, l f.f. 1-1- 1111 fau" sl Mere vl Imertsi Pincipvl In¢¢ ai 20132013 - - 1414 151. 1. 63 385667 05 P_ 7 nd 7 1 6 5276. 9, 62tW 114a99ul 118' 47181 014014 - - ISIS 688050, 94 3584967 537615.. 2M76 76 -4 W 1, 250, 94194 1138541, 93 0I5 16 697871. 95 135, 547 12 547. 615 i4 26 25, 276 .W 7624W 127076295 111058938 201617 702, 105 52 3/ 873984 557,557, n 557, nn 326 25, 27a INl 7624. L' 85, 196 52 1082157. 10 017 1e 706239. 87 30190949 572, 1 2, 993 2n 25, 27n .W 7 62W I IN, 130. 87 1, 052, 526 75 1018 19 7 410246 284 181. 84 580615 29.29. 593593 2n2n 25. 27n .. 762a,W 1336993, 46 1112199. 10 019' 0 741139. 55 26759956 tWW15 715593 fi 21,' 7n 1X1 7. 624. 1369820. 55 990816. 82 02011 738566. 15 249762,21 5 70053700 1156181. 15 95029921 BhT2BhT2 2626 6840668406 0000 132411200132411200 91768a72 0' 2' 33 691417'691417' 1 1 711782.711782. 0000 Ifi. 91. 62 5W5W fifi82PL0fifi82PL0 11591971101159197110 HMO 2123 ? 4 685' 98. 00 179. 864. 3 1 615. 65084100 134790. 00 890711, 34 mama 2525 TwTw 3211032110 162,162, 430430 2 fi15181 63278450 M 847011 795_ 14711 0' 5' 6 70054.. 702.tr 5W 613, 87200 I412," 00 15847958 116 " 1 739 6 - 9110 1242 6 722615W 592. 857.. 14 244-00 719139. 86 027 -28 3 8212] W 9460 74 615011 70,117 00 4, 024, 74' N) 67819730 178 9 MN3651111 7. 8 76061500 54811200 1055980-00 568381" 002910 93998. I3 9. 18 7P2, 61 7 00 1' 4, 157(. 1 1086u11 W 51779618 2031131 299, 01OW 68778.4 817. 61500 499. 072 . 1, 116. 625.. 50594924 2031. 13 842615. 01) 472,972 W 8426111/ 0 17' 97' nm223 872n15.. 445, 747 W 872, 61500 5347. W 203324 660/ 011011 1. 750. fiW.CW_W 60] 50.. 2maa5 690.. 0. 00 3!, 056W rtwu. xl. 31050 m 14787300. 00 2, 976A8 82 116, 112W 53, 168W 29,027, 499 07 1h73644542 Princi al al Interest Total Evisfin2 Debt 890954 377531 1268, 485 New Debt anticipated in FY 2013 -14 313, 546 1 $ 804, 941 11 11S11S 487487 FYFY 20132013 - - 1414 BudBud etet DebtDebt Impact:Impact: 1 204 500 1 182 472 2 386 972 PacketPacket Pg.Pg.' ' f`' 2828  S. t. a