Okaloosa County BOCC — May 20, 2014 — reading text

3,620,871 2,190,030 411,710 Cash and Cash Equivalents - End of Year $ 18,066,034 $ 12,390,276 $ 1,009,574 Cash and Cash Equivalents at End of Year Consist of: Current Assets $ 8,580,151 $ 10,167,422 $ 987,566 Restricted Assets 9,485,883 2,222,854 22,008 Total $ 18,066,034 $ 12,390,276 $ 1,009,574 Reconciliation of Operating Income (Loss) to Net Cash Provided (Used) by Operating Activities Operating Income (Loss) $ 4,598,431 $ (1,613,319) $ 481,328 Adjustments to Reconcile Operating Income to Net Cash Provided (Used) by Operating Activities Depreciation/Amortization 6,907,955 3,913,963 59,988 Other revenue 330,723 12,000 - Decrease (Increase) in Assets Accounts Receivable 313,608 (13,494) 39,727 Due from Other Funds - - - Due from Other Elected Officials 2,788 - - Due from Other Governments 708,715 2,433,819 - Inventories (5,592) (33,349) - Prepaid Expenses 92,432 7,069 - Packet Pg. 91  Exhibit X - Enterprise Funds Governmental Other Activities Convention Enterprise Internal Center Funds Total Service Funds 2,660,397 (70,264) 26,751,696 1,059,524 45,955 5,396 683,737 13,372 - - - (8,759) 2,706,352 (64,868) 27,435,433 1,064,137 4,284,653 105,131 29,633,057 468,196 356,095 122,007 6,700,713 4,825,292 $ 4,640,748 $ 227,138 $ 36,333,770 $ 5,293,488 $ 3,647,873 $ 227,138 $ 23,610,150 $ 5,293,488 992,875 - 12,723,620 - $ 4,640,748 $ 227,138 $ 36,333,770 $ 5,293,488 $ (2,167,304) $ (555,268) $ 743,868 $ (1,625,722) 534,477 410,107 11,826,490 48,053 - - 342,723 - (657) (441,660) (102,476) 3,671 - - - 8,286 - (2) 2,786 158 - - 3,142,534 58,441 - - (38,941) 14,705 4,028 (2,142) 101,387 18,743 Continued… 35 Packet Pg. 92  Okaloosa County, Florida STATEMENT OF CASH FLOWS PROPRIETARY FUNDS For the Fiscal Year Ended September 30, 2013 Business-type Activities Water and Sewer Airport System Enterprise Solid Waste Adjustments to Reconcile Operating Income to Net Cash Provided (Used) by Operating Activities - Continued Increase (Decrease) in Liabilities Accounts Payable 457,240 (5,928) 54,937 Service Contracts Payable (417,805) (1,670,028) (520,049) Due to Other Funds - - - Due to Other Elected Officials 44 219 - Due to Other Governments (996) 2,867 (35) Compensated Absences Payable (1,497) (5,201) (1,943) Closure Cost Payable - - (178,106) Claims and Judgments Payable - - - Other Accrued Liabilities 14,457 786 523 Deposits 26,334 - (2,672) Deferred Revenue (165,154) (94,782) - Other Post Employment Benefits 7,809 2,624 787 Total Adjustments 8,271,061 4,550,565 (546,843) Net Cash Provided (Used) by Operating Activities $ 12,869,492 $ 2,937,246 $ (65,515) Noncash Investing, Capital, and Financing Activities: Improvements Acquired Through Contributions $ - $ 287,610 $ - Packet Pg. 93  Exhibit X - Enterprise Funds Governmental Other Activities Convention Enterprise Internal Center Funds Total Service Funds 36,609 (332,211) 210,647 (234,494) 126,518 8,243 (2,473,121) 1,269 - - - 765,900 1,759 - 2,022 - (400) (4,258) (2,822) 174 (5,090) 4,729 (9,002) (8,571) - - (178,106) - - - - (3,611) (1,211) 49,736 64,291 2,302 - - 23,662 - (27,623) (27,272) (314,831) 4,055 1,378 8,070 20,668 244,734 669,788 (326,660) 12,617,911 923,815 $ (1,497,516) $ (881,928) $ 13,361,779 $ (701,907) $ - $ - $ 287,610 $ - The notes to the financial statements are an integral part of this statement. 36 Packet Pg. 94  Exhibit XI Okaloosa County, Florida STATEMENT OF FIDUCIARY NET POSITION FIDUCIARY FUNDS September 30, 2013 Agency Funds ASSETS Cash and Cash Equivalents $ 5,112,110 Account Receivables 15,757 Due from Other Funds 669 Due from Other Elected Officials 340 Total Assets 5,128,876 LIABILITIES Liabilities Due to Other Funds $ 7,778 Due to Other Elected Officials 140,619 Due to Other Governments 400,469 Due to Depositors 3,242,479 Taxes Collected in Advance for Other Governments 1,337,531 Total Liabilities 5,128,876 NET POSITION $ - The notes to the financial statements are an integral part of this statement. 37 Packet Pg. 95  Okaloosa County, Florida NOTES TO FINANCIAL STATEMENTS Fiscal Year Ended September 30, 2013 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial statements of Okaloosa County, Florida (hereinafter referred to as County) have been prepared in conformity with accounting principles generally accepted in the United States (GAAP) as applied to governments. The Governmental Accounting Standards Board (GASB) is the accepted standard- setting body for governmental accounting and financial reporting. The County uses the Uniform Accounting System mandated by Chapter 218.33, Florida Statutes. The following is a summary of the more significant accounting policies of the County. A. The Reporting Entity Okaloosa County is a political subdivision of the State of Florida, governed by a five member Board of County Commissioners, each elected by the citizenry at large for four-year terms. The Board has no powers other than those expressly vested in it by State Statute and their governmental powers cannot be delegated. In addition, the Clerk of the Circuit Court, Sheriff, Tax Collector, Property Appraiser and Supervisor of Elections are elected by the citizenry at-large and function independently of the Board. As required by accounting principles generally accepted in the United States of America, these