Fort Walton Beach — Comprehensive Financial Report September 30, 2017 — reading text

Total governmental activities net position $ 33,666,947 $ 32,590,214 $ 32,318,848 $ 42,253,058 $ 41,173,477 $ 37,355,274 $ 40,404,449 $ 30,198,659 $ 32,110,729 $ 27,993,648 Business-Type Activities Net investment in capital assets $ 21,043,965 $ 17,577,019 $ 18,928,438 $ 17,037,456 $ 14,929,648 $ 17,305,881 $ 13,779,184 $ 12,886,793 $ 12,893,855 $ 13,818,340 Restricted Debt service 316,153 471,441 481,023 184,711 184,933 1,087,405 1,082,935 157,228 157,228 157,228 System improvements 60,709 98,292 61,559 82,573 112,863 305,508 367,263 382,734 404,761 452,472 Unrestricted 8,301,545 8,276,703 6,791,840 6,859,952 8,552,169 9,379,587 9,658,709 10,656,992 11,118,844 11,731,659 Total business-type activities net position $ 29,722,372 $ 26,423,455 $ 26,262,860 $ 24,164,692 $ 23,779,613 $ 28,078,381 $ 24,888,091 $ 24,083,747 $ 24,574,688 $ 26,159,699 Primary Government Net investment in capital assets $ 42,139,320 $ 38,140,809 $ 38,728,907 $ 41,794,161 $ 40,308,698 $ 40,837,576 $ 38,645,583 $ 40,330,670 $ 40,684,909 $ 41,165,438 Restricted 3,127,299 3,257,332 3,297,029 5,097,472 4,604,244 5,887,003 6,287,587 3,134,876 2,722,851 2,703,688 Unrestricted 18,122,700 17,624,279 16,805,772 19,526,117 20,040,148 18,709,195 20,359,370 10,816,860 13,277,657 10,284,221 Total primary government net position $ 63,389,319 $ 59,022,420 $ 58,831,708 $ 66,417,750 $ 64,953,090 $ 65,433,774 $ 65,292,540 $ 54,282,406 $ 56,685,417 $ 54,153,347 Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual 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: Beginning in FY11, the Community Redevelopment Area was included with the Governmental Activities and the Perpetual care - expendable was reclassified from Restricted to Unrestricted 103  City of Fort Walton Beach, Florida SCHEDULE 2 CHANGES IN NET POSITION Last Ten Fiscal Years (full accrual basis of accounting) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Expenses Governmental activities General government $ 5,494,094 $ 4,625,871 $ 5,306,003 $ 3,765,536 $ 4,314,050 $ 2,662,406 $ 3,179,768 $ 2,735,875 $ 3,285,039 $ 3,581,072 Public safety 10,048,884 9,908,644 9,231,632 9,206,784 9,805,368 9,729,228 9,685,621 9,562,140 10,172,215 11,507,059 Physical environment 343,411 350,374 304,907 393,752 383,970 379,681 392,255 379,334 430,490 543,287 Transportation 2,135,639 1,672,741 1,543,310 1,570,038 1,592,150 1,631,665 1,495,374 1,474,209 1,494,178 1,536,979 Economic environment 127,355 266,132 98,996 545,242 707,603 1,090,025 803,175 1,813,782 1,540,230 1,591,643 Culture and recreation 3,097,289 3,028,285 2,944,221 2,677,051 2,880,815 2,715,977 4,829,004 4,601,503 5,375,183 5,403,198 Debt service interest 302,948 247,703 240,940 214,470 254,516 324,405 483,301 340,497 323,639 304,331 Total government activities 21,549,620 20,099,750 19,670,009 18,372,873 19,938,472 18,533,387 20,868,498 20,907,340 22,620,974 24,467,569 Business-type activities Utilities 5,809,192 5,474,550 6,725,349 9,162,926 7,017,160 7,644,240 9,185,338 9,205,259 10,066,769 9,420,248 Sanitation 2,609,129 2,493,357 2,466,881 2,524,994 2,741,266 3,163,638 3,393,269 3,319,760 3,407,992 3,687,087 Golf 2,547,992 2,479,804 2,203,739 2,199,453 2,012,165 2,023,186 2,215 - - - Stormwater - 469,421 374,951 339,543 497,211 611,962 439,191 460,314 611,351 681,541 Total business-type activities 10,966,313 10,917,132 11,770,920 14,226,916 12,267,802 13,443,026 13,020,013 12,985,333 14,086,112 13,788,876 Total primary government expenses $ 32,515,933 $ 31,016,882 $ 31,440,929 $ 32,599,789 $ 32,206,274 $ 31,976,413 $ 33,888,511 $ 33,892,673 $ 36,707,086 $ 38,256,445 Program Revenues Governmental activities Charges for services General government $ 2,752,330 $ 2,921,887 $ 2,759,080 $ 2,556,270 $ 430,718 $ 409,983 $ 476,824 $ 421,987 $ 421,503 $ 448,911 Public safety 641,941 642,364 467,835 430,017 373,855 640,271 495,111 490,379 523,163 570,556 Physical environment 348,838 286,623 289,654 394,513 439,555 404,429 376,998 409,253 371,205 399,338 Transportation 93,987 87,654 83,586 104,776 118,067 122,275 140,038 140,809 207,860 240,653 Economic environment - - - 16,400 58,000 34,652 10 5,000 392,118 12,000 Culture and recreation 417,253 426,110 408,351 404,047 400,215 374,362 1,853,087 1,930,131 1,805,332 1,846,019 Operating grants and contributions 903,079 1,119,033 639,370 761,643 589,253 786,652 682,200 909,461 908,595 825,624 Capital grants and contributions 50,687 88,941 731,275 351,006 156,794 80,936 109,629 525,320 802,809 361,641 Total governmental activities program revenues 5,208,115 5,572,612 5,379,151 5,018,672 2,566,457 2,853,560 4,133,897 4,832,340 5,432,585 4,704,742 Business-type activities Charges for services Utilities 6,505,297 6,403,262 6,761,654 7,608,355 7,974,601 8,623,082 8,586,045 9,233,820 10,141,724 10,970,823 Sanitation 3,446,397 3,384,375 3,345,127 3,311,744 3,313,559 3,499,559 3,571,037 3,582,005 3,599,838 3,663,445 Golf 2,380,448 2,181,988 1,934,392 2,052,501 1,776,649 1,758,709 - - - - Stormwater - 654,346 626,903 481,854 577,706 591,196 596,133 694,581 860,644 917,844 Operating grants and contributions 39,403 - - 118,226 - 1,071 - - - - Capital grants and contributions 92,872 555,698 173,370 65,496 331,609 1,871,295 (157,294) 87,797 533,515 1,314,521 Total business-type activities program revenues 12,464,417 13,179,669 12,841,446 13,638,176 13,974,124 16,344,912 12,595,921 13,598,203 15,135,721 16,866,633 Total primary government program revenues $ 17,672,532 $ 18,752,281 $ 18,220,597 $ 18,656,848 $ 16,540,581 $ 19,198,472 $ 16,729,818 $ 18,430,543 $ 20,568,306 $ 21,571,375 Continued… Continued… 104  City of Fort Walton Beach, Florida SCHEDULE 2 CHANGES IN NET POSITION Last Ten Fiscal Years (full accrual basis of accounting) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Net (Expense)/Revenue Governmental activities $ (16,341,505) $ (14,527,138) $ (14,290,859) $ (13,354,201) $ (17,372,015) $ (15,679,827) $ (16,734,601) $ (16,075,000) $ (17,188,389) $ (19,762,827)