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

Redevelopment Area was included with All Other Governmental Funds 106  City of Fort Walton Beach, Florida SCHEDULE 4 CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS Last Ten Fiscal Years (modified accrual basis of accounting) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Revenues Taxes $ 9,039,398 $ 9,160,133 $ 9,414,513 $ 10,438,481 $ 10,065,983 $ 9,901,157 $ 11,537,812 $ 11,837,177 $ 11,941,311 $ 12,220,392 Licenses, permits, and fees 2,225,224 2,320,683 2,406,916 2,428,621 2,142,995 2,221,406 2,392,487 2,564,079 2,623,810 2,514,178 Intergovernmental 2,914,162 2,950,179 3,502,904 3,358,615 3,291,693 3,400,876 3,376,079 3,951,367 4,322,696 4,266,425 Charges for services 1,216,687 1,132,681 907,476 911,405 969,560 1,065,316 2,373,486 2,499,107 2,402,801 2,488,384 Fines and forfeits 268,415 387,449 204,849 151,616 142,936 241,923 133,645 131,020 121,513 127,406 Miscellaneous 1,211,662 1,020,342 1,370,077 817,975 537,975 431,625 827,526 1,142,936 935,821 1,042,958 Total Revenues 16,875,548 16,971,467 17,806,735 18,106,713 17,151,142 17,262,303 20,641,035 22,125,686 22,347,952 22,659,743 Expenditures General governmental services 5,306,276 4,419,077 5,095,790 3,699,506 3,899,740 2,514,734 2,891,275 2,813,835 3,017,374 3,228,767 Public safety 9,614,744 9,379,319 8,872,424 8,676,620 9,154,002 9,066,246 9,082,876 9,080,984 9,053,178 9,913,344 Physical environment 278,273 283,460 250,691 306,365 295,459 311,684 325,864 339,596 337,831 372,552 Transportation 1,750,680 1,316,954 1,207,449 994,272 966,050 1,012,387 867,730 862,712 852,602 890,762 Economic environment 127,355 266,132 98,996 493,526 652,086 1,032,659 745,586 1,730,631 1,432,788 1,468,393 Culture and recreation 2,698,993 2,582,642 2,535,682 2,233,104 2,383,239 2,267,141 3,744,452 4,122,310 4,196,979 4,170,787 Capital outlay 652,734 520,722 1,335,369 1,561,057 2,609,203 1,282,142 4,721,096 8,128,139 2,105,686 1,598,285 Debt service Principal 2,052,797 168,949 175,629 198,699 211,683 4,540,488 612,996 660,107 673,851 682,229 Interest and other costs 297,335 246,774 240,093 236,268 243,959 203,347 377,574 354,544 336,835 316,629 Total expenditures 22,779,187 19,184,029 19,812,123 18,399,417 20,415,421 22,230,828 23,369,449 28,092,858 22,007,124 22,641,748 Excess of revenue over (under) expenditures (5,903,639) (2,212,562) (2,005,388) (292,704) (3,264,279) (4,968,525) (2,728,414) (5,967,172) 340,828 17,995 Other Financing Sources (Uses) Capital lease proceeds - - - - - 103,784 - 67,774 - Transfers in 5,367,633 3,191,822 2,342,226 2,296,944 2,284,416 673,836 1,636,165 1,721,632 1,798,184 1,794,419 Transfers out (2,450,323) (685,545) (674,583) (614,227) (628,384) (2,819,277) (1,241,454) (1,064,074) (1,042,338) (1,032,680) Sale of general capital assets - - - - - - - - 850,000 - Debt issuance - - - 739,805 - 12,942,539 - - - - Total other financing sources (uses) 2,917,310 2,506,277 1,667,643 2,422,522 1,656,032 10,900,882 394,711 725,332 1,605,846 761,739 Net change in fund balance $ (2,986,329) $ 293,715 $ (337,745) $ 2,129,818 $ (1,608,247) $ 5,932,357 $ (2,333,703) $ (5,241,840) $ 1,946,674 $ 779,734 Debt service as a percentage of noncapital expenditures 10.62% 2.23% 2.25% 2.58% 2.56% 22.65% 5.31% 5.08% 5.08% 4.75% 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 Funds Note: Beginning in FY14, the Golf Enterprise Fund was transferred into the General Fund. 107  City of Fort Walton Beach, Florida SCHEDULE 5 REVENUES AND OTHER SOURCES (1) Last Ten Fiscal Years Unaudited Other Fiscal Licenses, Fees, Intergovernmental Charges for Fines and Interest and Financing Year Taxes and Permits Revenues Services Forfeitures Other Revenues Sources TOTAL 2017 $12,220,392 $2,514,178 $4,266,425 $2,488,384 $127,406 $1,042,958 $1,794,419 $24,454,162 2016 $11,941,311 $2,623,810 $4,322,696 $2,402,801 $121,513 $935,821 $2,648,184 $24,996,136 2015 $11,837,177 $2,564,079 $3,951,367 $2,499,107 $131,020 $1,142,936 $1,789,406 $23,915,092 2014 11,537,812 2,392,487 3,376,079 2,373,486 133,645 827,526 1,636,165 22,277,200 2013 9,901,157 2,221,406 3,400,876 1,065,316 241,923 431,625 13,720,159 30,982,462 2012 3,376,079 2,373,486 133,645 827,526 0 20,641,035 0 27,351,771 2011 3,400,876 2,428,621 3,358,615 911,405 151,616 817,975 2,296,944 13,366,052 2010 9,414,513 2,406,916 3,502,904 907,476 204,849 1,370,077 2,342,226 20,148,961 2009 9,160,133 2,320,683 2,950,179 1,132,681 387,449 1,020,342 3,191,822 20,163,289 2008 9,039,398 2,225,224 2,914,162 1,216,687 268,415 1,211,662 5,367,633 22,243,181 (1) Includes General Fund, LETFs, CDBG Fund, FBC Fund, CRA Fund, Debt Service Fund, Capital Projects Fund, and Beal Memorial Fund 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 FY14, the Golf Enterprise Fund was transferred into the General Fund. 108  City of Fort Walton Beach, Florida SCHEDULE 6 ASSESSED VALUE OF TAXABLE PROPERTY (1) Last Ten Fiscal Years Unaudited Total Assessed Total Tax Real Personal Assessed Value for Direct Tax Year Property Property Value Exemptions Operations Rate 2017 $ 1,622,927,933 $ 117,555,021 $ 1,740,482,954 $ 462,721,193 $ 1,277,761,761 5.7697 2016 $ 1,569,650,612 $ 113,113,590 $ 1,682,764,202 $ 458,344,109 $ 1,224,420,093 5.7697 2015 $ 1,521,529,660 $ 112,451,954 $ 1,633,981,614 $ 448,170,536 $ 1,185,811,078 5.7697 2014 1,475,665,054 108,533,120 1,584,198,174 434,639,300 1,149,558,874 5.7697 2013 1,451,775,552 118,155,863 1,569,931,415 442,204,485 1,127,726,930 5.7697 2012