Fort Walton Beach — Annual Comprehensive Financial Report, September 30, 2025 — reading text

4,515,669 4,681,431 4,716,511 Tax increments for redevelopment district 1,628,439 1,649,589 1,811,121 1,893,803 2,369,529 2,320,213 2,404,122 2,668,386 2,842,113 2,887,289 Franchise fees 2,202,420 2,034,209 2,131,104 2,084,717 2,070,302 2,146,088 2,355,837 2,415,585 2,385,680 2,387,255 Intergovernmental, unrestricted 910,615 981,613 1,009,901 1,034,884 978,949 1,101,020 1,374,067 1,407,882 1,316,824 1,719,563 Gain on sale of assets 873,101 - - 66,523 158,530 740,344 39,877 2,264,170 139,509 586,414 Miscellaneous 27,976 157,806 93,106 77,264 44,913 93,227 83,470 72,967 29,966 35,815 Investment earnings (losses) 444,972 414,160 263,824 1,225,235 1,071,190 743,927 (1,498,120) 1,638,716 3,743,723 2,167,478 Transfers 755,846 761,739 847,373 1,091,579 1,747,686 1,759,782 1,797,083 1,797,765 1,848,670 1,985,575 Total governmental activities 19,100,459 18,562,413 19,321,059 22,270,872 23,979,652 25,671,427 24,277,379 30,541,643 31,465,294 30,114,536 Business-type activities Gain on sale of assets 26,093 32,663 14,258 44,914 16,801 260,579 - 50,435 9,371 10,479 Miscellaneous 5,502 27,727 16,575 17,671 1,551 105,520 4,088 1,580 2,366 2,387 Investment earnings (losses) 165,583 85,567 9,388 713,509 624,999 31,984 (876,524) 370,227 1,138,151 670,706 Transfers (755,846) (761,739) (847,373) (1,091,579) (1,747,686) (1,759,782) (1,797,083) (1,797,765) (1,848,670) (1,985,575) Total business-type activities (558,668) (615,782) (807,152) (315,485) (1,104,335) (1,361,699) (2,669,519) (1,375,523) (698,782) (1,302,003) Total primary government $ 18,541,791 $ 17,946,631 $ 18,513,907 $ 21,955,387 $ 22,875,317 $ 24,309,728 $ 21,607,860 $ 29,166,120 $ 30,766,512 $ 28,812,533 Change in Net Position Governmental activities $ 1,912,070 $ (1,200,414) $ 1,061,601 $ 2,583,094 $ 7,008,621 $ 6,665,919 $ 3,794,576 $ 5,250,356 $ 6,412,236 $ 3,369,261 Business-type activities 490,941 2,461,975 519,374 1,621,486 1,528,232 389,881 (476,158) 845,755 3,811,165 1,876,768 Total primary government $ 2,403,011 $ 1,261,561 $ 1,580,975 $ 4,204,580 $ 8,536,853 $ 7,055,800 $ 3,318,418 $ 6,096,111 $ 10,223,401 $ 5,246,029 Sources: Unless otherwise noted, the information in these schedules is derived from the annual comprehensive financial reports for the relevant year. The City implemented GASB Statement 34 in 2002; schedules presenting government- wide information include information beginning in that year. Note: The gain on sale of assets reported for 2023 governmental activities has been reduced to reflect a restatement to correct an error. 104  City of Fort Walton Beach, Florida SCHEDULE 3 FUND BALANCES - GOVERNMENTAL FUNDS Last Ten Fiscal Years (modified accrual basis of accounting) 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 General Fund Nonspendable $ 240,865 $ 245,181 $ 250,315 $ 269,837 $ 286,427 $ 259,960 $ 284,342 $ 311,357 $ 391,596 $ 556,226 Restricted 163,817 93,456 66,707 4,497,485 2,248,298 5,712,331 6,164,287 7,243,110 7,983,383 7,509,746 Committed 6,009,523 6,687,557 6,663,230 8,019,062 8,045,739 8,649,189 10,409,244 11,556,463 11,158,869 11,214,071 Assigned 1,198,378 1,891,555 1,913,861 2,341,510 2,184,202 3,908,571 3,096,152 9,590,863 6,849,007 6,030,470 Unassigned 4,356,681 3,561,586 2,282,375 3,291,695 8,218,150 8,845,558 7,300,353 4,983,996 5,660,957 2,549,485 Total general fund $ 11,969,264 $ 12,479,335 $ 11,176,488 $ 18,419,589 $ 20,982,816 $ 27,375,609 $ 27,254,378 $ 33,685,789 $ 32,043,812 $ 27,859,998 All Other Governmental Funds Nonspendable $ 1,762 $ - $ - $ - $ - $ - $ - $ - $ - $ - Restricted 1,995,283 2,000,532 2,280,882 2,365,348 3,960,753 5,215,214 6,599,208 7,813,569 6,962,449 6,644,553 Committed 2,467,828 2,739,865 2,974,049 3,120,593 3,451,682 4,154,232 3,435,513 3,814,516 4,667,003 5,197,923 Unassigned - (5,861) (19,270) (31,326) (17,483) (19,782) (19,782) (19,782) (8,782) (8,782) Total all other governmental funds $ 4,464,873 $ 4,734,536 $ 5,235,661 $ 5,454,615 $ 7,394,952 $ 9,349,664 $ 10,014,939 $ 11,608,303 $ 11,620,670 $ 11,833,694 Sources: Unless otherwise noted, the information in these schedules is derived from the annual comprehensive financial reports for the relevant year. The City implemented GASB Statement 34 in 2002; schedules presenting government-wide information include information beginning in that year. 105  City of Fort Walton Beach, Florida SCHEDULE 4 CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS Last Ten Fiscal Years (modified accrual basis of accounting) 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Revenues Taxes $ 11,941,311 $ 12,220,392 $ 12,741,642 $ 13,101,370 $ 13,441,866 $ 13,705,445 $ 14,378,360 $ 15,344,155 $ 15,754,818 $ 15,708,803 Licenses, permits, and fees 2,623,810 2,514,178 2,586,035 2,659,200 3,475,389 4,102,640 4,471,993 4,722,748 3,232,859 3,072,409 Intergovernmental 4,322,696 4,266,425 4,880,937 5,516,224 9,870,743 9,094,488 8,760,009 10,169,568 9,532,937 8,767,447 Charges for services 2,402,801 2,488,384 2,739,021 2,868,887 2,757,191 3,461,193 3,628,960 3,743,367 3,717,283 3,784,813 Fines and forfeits 121,513 127,406 101,378 94,578 93,827 77,476 117,291 237,061 106,837 237,166 Investment income (losses) - - - - - - (1,939,598) 1,102,761 2,482,001 1,509,830 Miscellaneous 935,821 1,042,958 819,264 1,770,325 1,561,538 1,358,329 910,757 1,008,493 1,830,590 1,555,441 Total Revenues 22,347,952 22,659,743 23,868,277 26,010,584 31,200,554 31,799,571 30,327,772 36,328,153 36,657,325 34,635,909 Expenditures General governmental services 3,017,374 3,228,767 3,631,410 3,377,241 3,620,756 3,632,924 3,737,220 4,407,665 4,953,525 6,114,022 Public safety 9,053,178 9,913,344 10,584,430 10,157,745 11,255,650 12,988,274 14,189,424 14,867,714 15,860,992 16,255,424 Physical environment 337,831 372,552 425,472 439,446 440,769 491,526 484,405 445,217 351,655 321,511 Transportation 852,602 890,762 762,058 824,349 723,669 741,097 890,333 938,417 755,644 517,572 Economic environment 1,432,788 1,468,393 1,045,687 1,282,063 1,182,887