Okaloosa County BOCC — May 20, 2014 — reading text

during FY14. 88 Packet Pg. 146 (THIS PAGE INTENTIONALLY LEFT BLANK) Packet Pg. 147 Required Supplementary Information Packet Pg. 148 Packet Pg. 149  Okaloosa County, Florida Post Employment Benefits Plans Schedule of Funding Progress September 30, 2013 Board of County Commissioners Unfunded UAAL as a Actuarial Actuarial Actuarial Actuarial Percentage of Valuation Value Liabilities Liabilities Funded Covered Covered Date of Assets (AAL)(1) (UAAL)(2) Ratio Payroll (3) Payroll (3) October 1, 2010 - $ 3,587,969 $ 3,487,969 0.0% $ 31,547,282 11.4% October 1, 2011 - $ 3,788,681 $ 3,788,681 0.0% $ 31,617,251 12.0% October 1, 2012 - $ 3,780,041 $ 3,780,041 0.0% $ 31,108,775 12.2% (1) Actuarial liability determined under the unit credit cost method. (2) Actuarial liability less actuarial value of assets, if any. (3) Medical benefits are not tied to the size of payroll and advised costs as a percentage of payroll does not raise GASB 45 costs. Approach revised in 2011. Sheriff Unfunded UAAL as a Actuarial Actuarial Percentage of Actuarial Actuarial Liabilities Liabilities Funded Covered Covered Valuation Value (AAL) (UAAL)(3) Ratio Payroll Payroll Date of Assets (a) (b) (b-a) (a/b) (c) ([b-a]/c) October 1, 2011 - $ 3,341,450 $ 3,341,450 0.0% $ 16,813,193 19.90% October 1, 2012 - $ 3,584,471 $ 3,584,471 0.0% $ 17,517,844 20.50% October 1, 2013 - $ 3,827,827 $ 3,827,827 0.0% $ 16,531,416 23.20% (3) Actuarial liability determined under the individual entry age normal cost method. 89 Packet Pg. 150 (THIS PAGE INTENTIONALLY LEFT BLANK) Packet Pg. 151  Nonmajor Governmental Funds SPECIAL REVENUE FUNDS Special revenue funds are used to account for specific revenues that are legally restricted to expenditure for particular purposes. Board of County Commissioners Natural Disaster Fund This fund is used to account for disaster funding and expenditures not considered normal recurring operating activity of the County. Local Housing Assistance Trust Fund This fund is used to account for funds received from the State Housing Initiatives Partnership Program for implementing and administrating the local housing assistance plan. E-911 Operations Fund This fund is used to account for E911 revenues collected exclusively for costs associated with developing and maintaining E911 systems and networks. Radio Communications Fund This fund is used to account for surcharges collected to fund the acquisition of equipment, software, and engineering, administrative, and maintenance services to construct, operate, and maintain a statewide radio system. Law Enforcement Trust Fund This fund is used to account for the revenues received as a result of criminal or forfeiture proceedings and used for school resource officer, crime prevention, safe neighborhood, drug abuse education and preventions programs, or for other law enforcement purposes. Police Academy Fund This fund is used to account for an additional $2 assessed by the County for criminal justice education degree programs and training courses. County Public Health Fund This fund is used to account for funds appropriated by Okaloosa County for or on behalf of the county public health unit, such as capital projects costs. Municipal Services Benefit Units Fund This fund is used to account for the assessments levied against benefiting properties for providing street lighting, street and drainage improvements and maintenance. Unincorporated County Parks Fund This fund is used to account for ad valorem tax proceeds levied on property in the unincorporated areas of Okaloosa County for the maintenance of parks in those areas. Prisoner Benefit Fund This fund is used to account for profits from the detention facility's commissary and expenses involved in the commissary operation. Additional Court Cost Fund This fund is used to account for the $65 additional court costs imposed by the County to fund innovations, legal aid, law library, and teen court operations. Drug Abuse Trust Fund This fund is used to account for an additional assessment collected for the purpose of providing assistance for alcohol and other drug abuse treatment or education programs. Domestic Violence Trust Fund This fund is used to account for the $85 surcharge imposed on domestic violence offenses and is used to provide additional training to law enforcement personnel in combating domestic violence. Packet Pg. 152  Nonmajor Governmental Funds (Continued) SPECIAL REVENUE FUNDS (Continued) Traffic Education Trust Fund This fund is used to account for the additional $5 surcharge imposed on each traffic penalty and is used to fund driver education programs in public and non-public schools. Clerk of the Circuit Court Courts Special Revenue Fund This fund is used to account for the statutory fines, fees, service charges and costs collected by the Clerk related to the performance of court-related activities. All excess funds over the amount of the Clerk's operating budget for this fund, approved by the Clerks of Court Operations Corporation, are remitted to the Florida Department of Revenue. Public Records Modernization Trust Fund This fund is used to account for recording fees collected by the Clerk of the Circuit Court under Florida Statute 28.24(12)(d). The fund is used exclusively for equipment, personnel training, and technical assistance in modernizing the public records system. Public Records Courts Special Revenue Fund This fund is used to account for recording fees collected by the Clerk of the Circuit Court under Florida Statute 28.24(12)(e). The fund is used exclusively for court-related technology needs. Public Records 10% Fine Special Revenue Fund This fund is used to account for recording fees collected by the Clerk of the Circuit Court under Florida Statute 28.24(12)(e). The fund is used exclusively for court-related technology needs. Sheriff Federal Law Enforcement Trust Fund This fund is used to account for revenues received as a result of criminal, administrative, or civil forfeitures proceedings. Teen Challenge Driver Fund This fund is used to account for revenues restricted by the Florida Sheriffs Association and is expended to support a new safety program for teen drivers. Funds cannot be used for normal operating expenses. Second Dollar Program Fund This fund is used to account for revenues restricted from local County moving violation tickets and is expended to support a new safety program for teen drivers. Funds cannot be used for normal operating expenses. DEBT SERVICE FUND Debt Service funds are used to account for the accumulation of resources and payment of special obligation bond principal and interest from governmental resources when Okaloosa County is obligated in some manner for the payment. Board of County Commissioners Okaloosa Debt Service Fund This fund is used to account for accumulation of resources and payment of bond debt for Capital Improvement Revenue Bonds, Series 1991. CAPITAL PROJECTS FUNDS Capital projects funds are used to account for the acquisition and construction of major capital facilities other than those financed by proprietary funds. Board of County Commissioners Road and Bridge Construction Fund This fund is used to account for constitutional gasoline tax revenues and balances on hand, as well as a portion of the County's Local Option Gasoline Tax revenue, all available for capital improvements. All improvements from this fund are restricted to the construction of roads and bridges within Okaloosa County. Packet Pg. 153 Packet Pg. 154  Okaloosa County, Florida COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS September 30, 2013 Natural Local Housing Radio Disaster Assistance Special E-911 Operation Communications Special Revenue Fund Revenue Fund Special Revenue Fund Special Revenue Fund ASSETS Cash and Cash Equivalents $ 23,227 $ 429,247 $ 863,665 $ 11,057 Investments 44,304 352,969 560,118 582 Accounts Receivable - - - 9,864 Due from Other Funds - 55,000 - 50,000 Due from Other Elected Officials - - - 6,406 Due from Other Governments 615,868 - - - Prepaids - - 37,246 5,332 Total Assets