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

Business-type activities 1,498,104 2,262,537 1,070,526 (588,740) 1,706,322 2,901,886 (424,092) 612,870 1,049,609 3,077,757 Total primary government $ (14,843,401) $ (12,264,601) $ (13,220,333) $ (13,942,941) $ (15,665,693) $ (12,777,941) $ (17,158,693) $ (15,462,130) $ (16,138,780) $ (16,685,070) General Revenues and Other Changes in Net Position Governmental activities Taxes Property taxes $ 5,052,903 $ 4,631,028 $ 4,380,221 $ 4,482,819 $ 4,295,068 $ 4,175,136 $ 5,385,235 $ 5,473,438 $ 5,617,998 $ 5,807,598 Sales taxes 2,214,232 1,977,959 1,943,337 2,066,834 2,198,270 2,241,242 2,362,190 2,557,062 2,707,153 2,792,840 Utility service taxes 5,094,918 3,454,691 3,914,362 3,926,930 3,739,311 3,761,437 3,889,976 4,036,009 3,931,939 3,962,859 Tax Increments for Redevelopment district - - - 1,547,609 1,386,521 1,311,101 1,501,208 1,552,560 1,628,439 1,649,589 Franchise Fees - - - - 1,876,575 1,764,733 2,004,101 2,162,617 2,202,420 2,034,209 Intergovernmental, unrestricted 740,554 709,550 712,776 825,591 809,756 818,039 819,556 896,837 910,615 981,613 Gain on sale of assets 2,592 2,950 795,860 16,865 16,440 37,833 520,152 524,720 873,101 - Miscellaneous 61,199 54,223 492,052 96,105 154,996 106,546 103,986 199,776 27,976 157,806 Investment earnings 444,488 269,896 152,884 133,419 159,465 62,285 345,734 272,076 444,972 414,160 Insurance Recoveries - - - - - - - - - - Special item: Impairment loss - - - - - (271,287) - - - - Transfers 2,917,310 2,310,464 1,667,644 1,682,717 1,656,032 (2,145,441) 2,851,638 657,558 755,846 761,739 Total governmental activities 16,528,196 13,410,761 14,059,136 14,778,889 16,292,434 11,861,624 19,783,776 18,332,653 19,100,459 18,562,413 Business-type activities Taxes Utility service taxes 5,930 4,597 - - - - - - - - Gain on sale of assets 482 98,907 56,795 75,904 35,111 20,662 22,813 716 26,093 32,663 Miscellaneous 129,678 141,406 177,657 31,424 48,550 6,504 6,839 9,222 5,502 27,727 Investment earnings 579,578 340,155 202,071 65,961 69,622 11,107 55,669 159,761 165,583 85,567 Special item: Impairment loss - (3,836,055) - - (588,652) (786,713) - - - - Transfers (2,917,310) (2,310,464) (1,667,644) (1,682,717) (1,656,032) 2,145,441 (2,851,638) (657,558) (755,846) (761,739) Total business-type activities 715,668 (3,250,990) 436,523 173,289 (435,369) 1,397,001 (2,766,317) (487,859) (558,668) (615,782) Total primary government $ 17,243,864 $ 10,159,771 $ 14,495,659 $ 14,952,178 $ 15,857,065 $ 13,258,625 $ 17,017,459 $ 17,844,794 $ 18,541,791 $ 17,946,631 Change in Net Position Governmental activities $ 186,691 $ (1,116,377) $ (231,722) $ 1,424,688 $ (1,079,581) $ (3,818,203) $ 3,049,175 $ 2,257,653 $ 1,912,070 $ (1,200,414) Business-type activities (703,538) (3,298,917) (160,595) (2,098,168) (385,079) 4,298,887 (3,190,409) 125,011 490,941 2,461,975 Total primary government $ (516,847) $ (4,415,294) $ (392,317) $ (673,480) $ (1,464,660) $ 480,684 $ (141,234) $ 2,382,664 $ 2,403,011 $ 1,261,561 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 Note: Beginning in FY12, Franchise Fees were reported as General Revenues - in prior years they were included in General Government - charges for services Note: Beginning in FY13, Cost Allocations were reported as expense reductions in General Government - in prior years they were reported as transfers. Note: Beginning in FY14, the Golf Enterprise Fund was transferred into the General Fund. 105  City of Fort Walton Beach, Florida SCHEDULE 3 FUND BALANCES - GOVERNMENTAL FUNDS Last Ten Fiscal Years (modified accrual basis of accounting) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 General Fund Reserved $ 509,080 $ 482,179 $ 499,384 $ - $ - $ - $ - $ - $ - $ - Unreserved 9,367,864 9,709,202 9,314,142 - - - - - - - Nonspendable - - - 3,032,726 2,857,963 254,229 262,964 249,732 240,865 245,181 Restricted - - - 234,768 194,193 7,868,522 4,083,267 183,512 163,817 93,456 Committed - - - 5,219,706 5,040,585 5,501,353 5,589,056 5,761,221 6,009,523 6,687,557 Assigned - - - 1,537,572 354,999 1,301,385 1,584,887 1,396,207 1,198,378 1,891,555 Unassigned - - - 1,189,562 1,611,120 788,076 1,300,881 2,225,633 4,356,681 3,561,586 Total general fund $ 9,876,944 $ 10,191,381 $ 9,813,526 $ 11,214,334 $ 10,058,860 $ 15,713,565 $ 12,821,055 $ 9,816,305 $ 11,969,264 $ 12,479,335 All Other Governmental Funds Reserved $ - $ 50,117 $ 12,783 $ - $ - $ - $ - $ - $ - $ - Unreserved, reported in Capital projects 8,751 - - - - - - - - Debt service 91,713 91,713 92,880 - - - - - - - Special revenue funds 2,153,440 2,073,850 2,158,878 - - - - - - - Nonspendable - - - - - - 798 848 1,762 - Restricted - - - 4,595,420 4,112,255 4,316,961 4,663,961 2,410,554 1,995,283 2,000,532 Committed - - - 1,929,448 1,959,836 2,035,225 2,249,720 2,259,756 2,467,828 2,739,865 Assigned - - - - - - - - - - Unassigned - - - (306) (302) (2,745) (6,231) - - (5,861) Total all other governmental funds $ 2,245,153 $ 2,224,431 $ 2,264,541 $ 6,524,562 $ 6,071,789 $ 6,349,441 $ 6,908,248 $ 4,671,158 $ 4,464,873 $ 4,734,536 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: The City implemented GASB 54 in FY11 and the Community