Okaloosa County BOCC — May 20, 2014 — reading text

Comparison $60,000 $50,000 $40,000 $34,752 $30,863 $30,000 $18,655 $18,067 $20,000 $10,000 $6,602 $1,335 $3,308 $816 $477 $465 $0 Taxes L&P Intgovt Chgs Fines Misc 2013 2012 Governmental Expenditures By Function Comparison $44,072 $43,331 $45,000 $40,000 $35,000 $28,153 $30,000 $26,836 $25,000 $20,000 $15,000 $11,660 $12,404 $11,418 $10,304 $10,000 $7,159 $6,795 $5,428 $4,942 $5,077 $5,331 $4,657 $4,186 $4,021 $5,000 $2,381 $1,052 $1,012 $0 Gen Govt Pub Saf Phys Env Trans Econ Env Hum Svc Cult Rec Crt Relat Cap Outlay Debt 2013 2012 Proprietary Activities Okaloosa County’s proprietary funds provide the same type of information found in the government-wide financial statements, but in more detail, and on a fund basis for the enterprise funds and internal service funds. 10 Packet Pg. 53 Okaloosa County, Florida Management’s Discussion and Analysis Enterprise Funds at September 30, 2013, total net position amounted to $266,814 for enterprise funds as compared to $258,382 at September 30, 2012. Net Position balances are primarily the result of operations and capital contributions in the Water & Sewer and Airport Enterprise funds. Business-type activities increased the County’s total net position by $8,432. Major components of this increase are as follows: The Water and Sewer Fund increased its net position by $711. Operating income was $4,958 during the year which was greater than last year. Operating revenues increased during the year, mainly related to the increased partnerships developed with the military and other governmental agencies, while operating expenses, excluding depreciation declined. The Airport Fund increased its net position by $3,580. The Airport again had a significant amount of capital contributions from grant and financing capital activities, while operating income decreased slightly due mainly to operating revenues increasing from the prior year and operating expenses decreasing significantly. The Convention Center Fund increased its net position by $2,677. Convention Center Operating Income increased due to slight increase in operating revenues and tourist development tax collections increased over the prior year producing net income. The net operating income of the enterprise funds for fiscal years 2013 and 2012, is as follows: Enterprise Net Operating Income (Loss) 2013 2012 Water and Sewer $4,598 $3,936 Airport (1,613) (2,372) Solid Waste 481 618 Inspections 41 (133) Emergency Medical Services (596) (955) Convention Center (2,167) (3,282) $744 ($2,188) 11 Packet Pg. 54  Okaloosa County, Florida Management’s Discussion and Analysis Proprietary Fund Operating Revenue by Source Comparison $73,324 $70,627 $80,000 $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $1,431 $1,278 $0 $1,441 $10,000 $0 $406 $0 Lic&P Chgs Fines Misc 2013 2012 Proprietary Fund Operating Expense by Program Comparison $29,888 $29,616 $30,000 $23,469 $22,883 $25,000 $20,000 $15,000 $11,031 $11,581 $8,684 $8,526 $10,000 $4,037 $2,972 $5,000 $0 Gen Govt Pub Saf Phys Env Trans Econ Env 2013 2012 Budgetary Highlights A Budget to actual statement is provided for the General Fund, along with each of the other major special revenue funds as part of the basic financial statements. A budget column for both the original budget adopted for fiscal year 2013 as well as the final budget is presented. A comparison of the General Fund revenues original to the final operating budget shows an increase of $17,118. The main area increased was a $10,332 rise in intergovernmental revenue funded primarily from additional state and federal grants, especially related to housing assistance, mass transit and recovery efforts assistance in economic development. A significant portion of the increase in grants was not received or expended during the fiscal year making the variance large. The expenditures incurred during the year were generally below budget, except for the services primarily impacted by the need for citizen services, like physical and economic environment. The major difference between actual and final budget totals in expenditures were due to grants budgeted in accordance with executed documents for these general government, public safety, capital outlay for recovery assistance and transportation, especially related to mass transit. 12 Packet Pg. 55 Okaloosa County, Florida Management’s Discussion and Analysis Capital Asset and Debt Administration Capital Assets. Okaloosa County’s investment in capital assets for its governmental and business-type activities as of September 30, 2013 amounts to $482,000 (net of accumulated depreciation). This investment in capital assets includes land, buildings, roads, bridges and other improvements, machinery and equipment and park facilities. The decrease in Okaloosa County’s governmental activities investment in capital assets for the current fiscal year amounted to ($1,535) or (1.0) percent decrease, which was mainly due to increased accumulated depreciation related to new infrastructure improvements. The business-type activities capital assets amounted to $318,755 or an increase of $503 or 0.2 percent, mainly increasing in the area of infrastructure related to Water and Sewer and Airport rehabilitation expansion. The following schedule compares capital assets for the primary government for the current and previous fiscal years: Okaloosa County, Florida Capital Assets September 30, 2013 and 2012 Governmental Business-type Activities Activities Total 2013 2012 2013 2012 2013 2012 Land $ 11,558 $ 9,958 $ 11,318 $ 11,318 $ 22,876 $ 21,276 Buildings 72,332 70,862 88,401 88,224 160,733 159,086 Improvements other than buildings 32,840 32,500 308 309 33,148 32,809 Intangibles 2,933 2,877 867 887 3,800 3,764 Mach/Equipment 52,277 54,496 20,771 21,004 73,048 75,500 Const in Progress 2,083 2,884 7,415 16,596 9,498 19,480 Infrastructure 147,485 144,436 329,386 309,343 476,871 453,779 Art - - 99 99 99 99 Total Capital Assets 321,508 318,013 458,565 447,780 780,073 765,793 Accum Deprec (158,263) (153,233) (139,810) (129,528) (298,073) (282,761) Total $ 163,245 $ 164,780 $ 318,755 $ 318,252 $ 482,000 $ 483,032 Additional information on Okaloosa County’s capital assets can