Okaloosa County BOCC — May 20, 2014 — reading text

$67,648 $0 $0 $0 $801,210 $5,171,437 $0 $6,040,295 1.58 2011 $25,895,709 $16,650,924 $9,244,785 $67,542 $0 $0 $0 $982,850 $4,989,988 $0 $6,040,380 1.53 2012 $26,581,965 $15,571,980 $11,009,985 $67,426 $0 $0 $0 $3,728,770 $0 $533,531 $4,329,727 2.54 2013 $26,685,108 $15,295,914 $11,389,194 $68,003 $0 $0 $0 $3,754,732 $2,837,287 $489,839 $7,149,861 1.59 Packet Pg. 247 UNAUDITED SCHEDULE 11 PLEDGED-REVENUE BOND COVERAGE PLEDGED-REVENUE BOND COVERAGE AIRPORT REVENUE BONDS FISCAL Gross Operating Direct Operat Net Revenue (PRINCIPAL + INTEREST) YEAR Revenue Expense Avail -Debt Serv 2003 2007 TOTAL COVERAGE 2004 $4,716,535 $2,696,158 $2,020,377 $157,772 $0 $157,772 12.81 2005 $6,017,008 $3,768,649 $2,248,359 $719,499 $0 $719,499 3.12 2006 $7,462,550 $4,221,206 $3,241,344 $797,195 $0 $797,195 4.07 2007 $8,302,612 $4,851,237 $3,451,375 $796,109 $0 $796,109 4.34 2008 $8,039,113 $5,132,705 $2,906,408 $788,232 $263,413 $1,051,645 2.76 2009 $8,557,210 $5,674,469 $2,882,741 $789,413 $208,221 $997,634 2.89 2010 $9,118,672 $6,036,864 $3,081,808 $799,213 $891,775 $1,690,988 1.82 2011 $9,602,757 $7,893,609 $1,709,148 $797,950 $887,675 $1,685,625 1.01 2012 $9,502,093 $8,056,047 $1,446,046 $795,575 $892,975 $1,688,550 0.86 2013 $9,334,305 $7,117,500 $2,216,805 $797,393 $887,075 $1,684,468 1.32 PLEDGED-REVENUE BOND COVERAGE CONFERENCE CENTER REVENUE BONDS FISCAL Gross Operating Direct Operat Net Revenue (PRINCIPAL + INTEREST) YEAR Revenue Expense Avail -Debt Serv Bond TOTAL COVERAGE 2004 $4,361,084 $1,977,740 $2,383,344 $946,320 $946,320 2.52 2005 $4,479,689 $2,309,740 $2,169,949 $940,980 $940,980 2.31 2006 $5,120,607 $2,401,044 $2,719,563 $944,700 $944,700 2.88 2007 $5,603,899 $2,841,814 $2,762,085 $942,695 $942,695 2.93 2008 $5,358,647 $3,163,561 $2,195,086 $955,073 $955,073 2.30 2009 $5,249,570 $3,419,702 $1,829,868 $671,573 $671,573 2.72 2010 $4,617,857 $3,094,242 $1,523,615 $942,038 $942,038 1.62 2011 $6,062,145 $2,597,664 $3,464,481 $8,929,631 $8,929,631 0.39 2012 $6,110,432 $3,509,121 $2,601,311 $1,903,563 $1,903,563 1.37 2013 $6,258,565 $2,437,430 $3,821,135 $1,535,370 $1,535,370 2.49 Packet Pg. 248 UNAUDITED SCHEDULE 12 COMPUTATION OF DIRECT AND UNDERLYING DEBT (1) PERCENT NET APPLICABLE COUNTY'S SHARE DIRECT: BONDED DEBT (2) TO COUNTY OF NET DEBT OKALOOSA COUNTY (NO BONDED DEBT) $0 0% $0 UNDERLYING: OKALOOSA COUNTY SCHOOL BOARD $59,896,000 100% $59,896,000 (1) THIS SCHEDULE IS NORMALLY TITLED "COMPUTATION OF OVERLAPPING DEBT", HOWEVER BECAUSE OKALOOSA COUNTY HAS NO OVERLAPPING DEBT, THE TITLE HAS BEEN CHANGED TO REFLECT THE CONTENTS OF THE SCHEDULE. (2) NET BONDED DEBT IS DEFINED HERE AS GROSS BONDED DEBT LESS AMOUNT AVAILABLE IN DEBT SERVICE Packet Pg. 249 UNAUDITED SCHEDULE 13 DEMOGRAPHIC AND ECONOMIC STATISTICS - LAST TEN YEARS PERSONAL PER CAPITA PERCENT INCOME PERCENT PERSONAL PERCENT UNEMPLOYMENT YEAR POPULATION +/- IN THOUSANDS +/- INCOME +/- RATE 2004 185,778 2.6% $6,229,248 7.9% $34,132 5.0% 3.47% 2005 188,939 1.7% $6,660,556 6.9% $36,190 6.0% 2.80% 2006 192,672 2.0% $7,144,102 7.3% $38,812 7.2% 2.40% 2007 196,617 2.0% $7,436,986 4.1% $40,711 4.9% 2.55% 2008 197,597 0.5% $7,607,688 2.3% $41,858 2.8% 5.10% 2009 196,234 -0.7% $7,186,037 -5.5% $39,668 -5.2% 7.40% 2010 196,800 0.3% $7,417,181 3.2% $41,024 3.4% 8.20% 2011 181,679 -7.7% $8,086,833 9.0% $44,126 (1) 7.6% 8.20% 2012 187,280 3.1% $8,546,210 5.7% $44,960 (1) 1.9% 6.10% 2013 187,486 0.1% $8,933,798 (1) 4.5% $46,639 (1) 3.7% 5.20% (1) Estimated income figures based upon average percent in prior years. SOURCE: FLORIDA RESEARCH AND ECONOMIC DATABASE Packet Pg. 250  Population Personal Income Last Ten Fiscal Years Last Ten Fiscal Years 4.0 10.0 2.0 5.0 0.0 (2.0) 0.0 (4.0) (6.0) (5.0) (8.0) (10.0) (10.0) Year Year Per Capita Income Unemployment Rate Last Ten Fiscal Years Last Ten Fiscal Years 10.0 10.0 8.0 8.0 6.0 6.0 4.0 4.0 2.0 0.0 2.0 (2.0) 0.0 (4.0) (6.0) Year Year Packet Pg. 251 UNAUDITED SCHEDULE 14 PRINCIPAL EMPLOYERS - CURRENT YEAR AND NINE YEARS AGO 2013 2004 PERCENTAGE PERCENTAGE OF TOTAL OF TOTAL EMPLOYER EMPLOYEES EMPLOYMENT EMPLOYEES EMPLOYMENT FT WALTON BEACH MEDICAL CENTER 1,250 1.28% 941 0.51% L-3/CRESTVIEW AEROSPACE CORP 1,064 1.09% 520 0.28% LOCKHEED MARTIN 800 0.82% INDYNE, INC 800 0.82% NORTH OKALOOSA MEDICAL CENTER 678 0.69% 585 0.31% JACOBS TEAS 1,483 1.52% NATIONAL ELECTRONICS WARRANTY (NEW) 450 0.46% DRS TRAINING & CONTROL SYSTEMS 454 0.46% THE BOEING COMPANY 419 0.43% BAE SYSTEMS TECHNICAL SERVICES 410 0.42% 910 0.49% ABBOT RESORTS/RESORT QUEST 1,300 0.70% TYBRIN CORPORATION 875 0.47% METRIC SYSTEMS CORPORATION 730 0.39% SVERDRUP TECHNOLOGY 650 0.35% MANUFACTURING TECHNOLOGY 450 0.24% WHITE-WILSON MEDICAL CENTER 380 0.20% TOTAL 7,808 7.98% 7,341 3.95% TOTAL COUNTY EMPLOYMENT 97,841 185,778 SOURCE: FLORIDA RESEARCH AND ECONOMIC DATABASE Packet Pg. 252  Principal Employers Principal Employers Current Year Nine Years Ago 2013 2004 Principal