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

1,445,327,759 120,653,616 1,565,981,375 446,565,401 1,119,415,974 4.5383 2011 1,478,072,570 126,412,302 1,604,484,872 452,378,818 1,152,106,054 4.5383 2010 1,550,325,157 129,348,680 1,679,673,837 469,933,333 1,209,740,504 4.5383 2009 1,864,657,624 148,104,763 2,012,762,387 476,888,476 1,309,056,015 4.1986 2008 2,046,319,844 147,625,998 2,193,945,842 816,366,365 1,377,579,477 4.1986 (1) Florida State Law requires all property to be assessed at current fair market. The January 2017 assessment is the basis for Fiscal Year 2017-18 tax revenues. Source: Okaloosa County Property Appraiser 109  City of Fort Walton Beach, Florida SCHEDULE 7 PROPERTY TAX RATES PER $1,000 OF TAXABLE VALUE - ALL DIRECT AND OVERLAPPING GOVERNMENTS (1) Last Ten Fiscal Years Unaudited City of Fort Walton Beach Direct Rate Overlapping Rates* Okaloosa Northwest Total Fiscal Total Direct Okaloosa County School Florida Water Overlapping Year Basic Rate Rate County Board Management Rates 2017 5.7697 5.7697 3.8308 6.5880 0.0353 10.4536 2016 5.7697 5.7697 3.4308 6.9070 0.0366 10.3744 2015 5.7697 5.7697 3.4308 7.2790 0.0378 10.7476 2014 5.7697 5.7697 3.4308 7.4410 0.0390 10.9108 2013 5.7697 5.7697 3.4308 7.5510 0.0400 11.0218 2012 4.5383 4.5383 3.2899 7.4760 0.0400 10.8059 2011 4.5383 4.5383 3.2899 7.7690 0.0400 11.0989 2010 4.5383 4.5383 3.2899 7.5340 0.0450 10.8689 2009 4.1986 4.1986 3.2899 7.6390 0.0450 10.9739 2008 4.1986 4.1986 3.2995 7.6240 0.0450 10.9685 (1) As of levy date, November 1 of each year listed. The 2017 millage rate is the basis for Fiscal Year 2017-18 tax revenues. * Overlapping rates are those of local and county governments that apply to property owners within the City of Fort Walton Beach Source: Okaloosa County Tax Collector 110  City of Fort Walton Beach, Florida SCHEDULE 8 PRINCIPAL TAXPAYERS Unaudited 2017 2008 Total Total Assessed Assessed Taxpayer Value Percentage Rank Value Percentage Rank Gulf Power Co. $ 21,096,424 1.65% 1 Suso 2 Uptown, LP 14,865,578 1.16% 2 Cox Communications Gulf Coast, LLC 7,553,701 0.59% 3 DRS Training & Control 6,935,183 0.54% 4 99 Eglin LTD 6,218,436 0.49% 5 Fort Walton Machining, Inc. 6,167,468 0.48% 6 Pacifica Walton Beach LLC 5,477,074 0.43% 7 FNBT.COM Bank 5,180,086 0.41% 8 PSH Of Okaloosa LLC 5,175,705 0.41% 9 Embarq Corp. 5,043,817 0.39% 10 Sprint Florida, Inc. $ 14,813,025 1.08% 1 Metric Systems 7,602,289 0.55% 4 Dakota Group, LLC 5,569,008 0.40% 10 BLC Westwood, LLC 9,355,932 0.68% 2 Presidio Developers, LLC 8,300,000 0.60% 3 DDRM Shoppes at Paradise 6,809,850 0.49% 5 Choctaw Plaza LTD 6,342,210 0.46% 6 EHC II - Captain's Quarters, LLC 6,273,968 0.46% 7 DEAS J JR ET AL 5,736,000 0.42% 8 Mariner Plaza Realty Assoc. 5,729,938 0.42% 9 Total Taxable Assessed Value of Principal Taxpayers 83,713,472 6.55% 76,532,220 5.56% Total Taxable Assessed Value of Other Taxpayers 1,194,048,289 93.45% 1,301,047,257 94.44% Total Taxable Assessed Value $ 1,277,761,761 100.00% $ 1,377,579,477 100.00% (1) The 2017 tax roll is the basis for Fiscal Year 2017-18 tax revenues. Source: Okaloosa County Property Appraiser 111  City of Fort Walton Beach, Florida SCHEDULE 9 PROPERTY TAX LEVIES AND COLLECTIONS Last Ten Fiscal Years Unaudited Ratio of Ratio of Amount of Percent of Amount of Total Total Taxes Delinquent Current Current Delinquent Collected Collected to Amount of Taxes to Tax Total Tax Taxes Taxes Taxes for the Current Delinquent Current Year Levy (1) Collected Collected Collected Year Levy Taxes Levy 2017 The 2017 tax levy is the basis for Fiscal Year 2017-18 tax revenues. 2016 $ 7,080,530 $ 6,826,718 96.4% $ 18,798 $ 6,845,517 96.7% $ 9,696 0.1% 2015 $ 6,858,983 $ 6,606,940 96.3% $ 30,392 $ 6,637,332 96.8% $ 8,058 0.1% 2014 6,656,342 6,414,562 96.4% 31,452 6,446,014 96.8% 3,604 0.1% 2013 6,528,146 6,269,683 96.0% 76,388 6,346,071 97.2% 11,388 0.2% 2012 5,096,206 4,880,002 95.8% 50,880 4,930,882 96.8% 10,265 0.2% 2011 5,251,483 5,050,661 96.2% 38,067 5,088,728 96.9% 19,826 0.4% 2010 5,519,832 5,309,040 96.2% 78,863 5,387,903 97.6% 11,576 0.2% 2009 5,523,136 5,280,090 95.6% 45,233 5,325,323 96.4% 59,371 1.1% 2008 5,814,307 5,606,480 96.4% 25,515 5,631,996 96.9% 22,112 0.4% (1) Includes discount taken for early payment of taxes (maximum of 4%). Source: Okaloosa County Tax Collector 112  City of Fort Walton Beach, Florida SCHEDULE 10 RATIOS OF OUTSTANDING DEBT BY TYPE Last Ten Fiscal Years Unaudited Governmental Activities Business Activities General General State Total Percentage Fiscal Obligation Lease Revenue Revenue Obligation Lease Revenue Revolving Revenue Primary of Personal Per Year Bonds Payable Notes Bonds Bonds Payable Notes Loans Bonds Government Income (1) Capita (2) 2017 $ - $ 76,099 $ 11,073,656 $ - $ - $ - $ 8,387,000 $ 13,988,885 $ - $ 33,525,640 0.36% 1,578.57 2016 - 106,653 11,725,331 - - - 8,794,000 14,656,929 - 35,282,913 0.40% 1,617.22 2015 - 134,249 12,371,587 - - - 8,794,000 15,312,458 - 36,612,294 0.42% 1,754.39 2014 - 89,654 13,008,515 - - - - 14,004,706 9,640,146 36,743,021 0.42% 1,773.40 2013 - 101,696 13,535,936 - - - 73,533 7,068,522 9,925,055 30,704,742 0.36% 1,515.83 2012 -