Fort Walton Beach — Comprehensive Annual Financial Report September 30, 2013 — reading text

EXHIBIT VB City of Fort Walton Beach, Florida COMMUNITY REDEVELOPMENT AGENCY STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Year Ended September 30, 2013 Budgeted Amounts Variance with Final Budget - Positive Original Final Actual (Negative) REVENUES Taxes $ 760,094 $ 760,094 $ 760,094 $ - Intergovernmental 551,007 602,252 766,007 163,755 Charges for services - - 182,492 182,492 Miscellaneous 15,000 15,000 9,840 (5,160) TOTAL REVENUES 1,326,101 1,377,346 1,718,433 341,087 EXPENDITURES Current Public safety 414,838 470,507 464,149 6,358 Transportation - 1,700 1,700 - Economic environment 694,420 1,733,675 976,508 757,167 Capital outlay 85,000 354,162 178,746 175,416 TOTAL EXPENDITURES 1,194,258 2,560,044 1,621,103 938,941 EXCESS OF REVENUES OVER (UNDER) EXPENDITURES 131,843 (1,182,698) 97,330 1,280,028 OTHER FINANCING SOURCES (USES) Transfers out (131,843) (43) - 43 NET CHANGE IN FUND BALANCE - (1,182,741) 97,330 1,280,071 FUND BALANCE - BEGINNING OF YEAR - 1,182,741 3,736,100 2,553,359 FUND BALANCE - END OF YEAR $ - $ - $ 3,833,430 $ 3,833,430 The accompanying notes are an integral part of these financial statements. 21  EXHIBIT VI City of Fort Walton Beach, Florida PROPRIETARY FUNDS STATEMENT OF NET POSITION September 30, 2013 Other Sanitation Enterprise Utilities Fund Fund Golf Fund Funds Total ASSETS Current assets Cash and cash equivalents $ 5,757,274 $ 2,175,998 $ - $ 535,464 $ 8,468,736 Restricted assets - cash and cash equivalents 1,547,479 740 4,293 - 1,552,512 Receivables, net 546,997 213,068 182 35,707 795,954 Inventory - at cost 26,497 - 31,660 - 58,157 Total current assets 7,878,247 2,389,806 36,135 571,171 10,875,359 Capital assets, net Non-depreciable/amortizable 16,137,143 - 55,400 28,532 16,221,075 Depreciable/amortizable, net 16,781,547 1,396,235 2,563,974 871,079 21,612,835 Total capital assets 32,918,690 1,396,235 2,619,374 899,611 37,833,910 Other assets Bond issue costs, net 180,434 - 2,215 - 182,649 Other receivables, net 15,917 - - - 15,917 Total other assets 196,351 - 2,215 - 198,566 Total non-current assets 33,115,041 1,396,235 2,621,589 899,611 38,032,476 TOTAL ASSETS $ 40,993,288 $ 3,786,041 $ 2,657,724 $ 1,470,782 $ 48,907,835 Continued... The accompanying notes are an integral part of these financial statements. 22  EXHIBIT VI City of Fort Walton Beach, Florida PROPRIETARY FUNDS STATEMENT OF NET POSITION September 30, 2013 Other Sanitation Enterprise Utilities Fund Fund Golf Fund Funds Total LIABILITIES Current liabilities Accounts payable $ 2,114,152 $ 109,198 $ 33,184 $ 6,384 $ 2,262,918 Accrued liabilities Compensated absences 29,884 13,702 8,838 2,812 55,236 Wages 81,157 39,713 39,225 18,172 178,267 Other 1,539 1,102 386 2,777 5,804 Due to other governments 323,582 7,806 7,137 - 338,525 Due to other funds - - 157,846 - 157,846 Revenue bonds payable 290,000 - - - 290,000 Revenue note payable - - 18,643 - 18,643 Payable from restricted assets Accrued interest 108,190 - 482 - 108,672 Customer deposits 163,859 740 - - 164,599 Unearned revenue 31,630 - 24,078 - 55,708 Total current liabilities 3,143,993 172,261 289,819 30,145 3,636,218 Non-current liabilities Accrued liabilities Compensated absences 89,650 41,104 26,513 8,434 165,701 Revenue bonds payable 9,635,055 - - - 9,635,055 Revenue note payable - - 54,890 - 54,890 State revolving loan payable 7,068,522 - - - 7,068,522 Other post-employment benefits 127,397 67,237 53,082 21,233 268,949 Total non-current liabilities 16,920,624 108,341 134,485 29,667 17,193,117 TOTAL LIABILITIES 20,064,617 280,602 424,304 59,812 20,829,335 NET POSITION Invested in capital assets, net of related debt 15,925,113 1,396,235 2,545,841 899,611 20,766,800 Restricted Debt service 1,083,112 - 4,293 - 1,087,405 System improvements 305,508 - - - 305,508 Unrestricted 3,614,938 2,109,204 (316,714) 511,359 5,918,787 TOTAL NET POSITION $ 20,928,671 $ 3,505,439 $ 2,233,420 $ 1,410,970 $ 28,078,500 The accompanying notes are an integral part of these financial statements. 23  EXHIBIT VII City of Fort Walton Beach, Florida PROPRIETARY FUNDS STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION Year Ended September 30, 2013 Other Sanitation Enterprise Utilities Fund Fund Golf Fund Funds Total OPERATING REVENUES Charges for services $ 8,606,702 $ 3,499,559 $ 1,661,260 $ 591,196 $ 14,358,717 OPERATING EXPENSES Personal services 1,792,104 970,497 997,780 286,977 4,047,358 Operating 4,374,686 1,948,071 763,272 258,553 7,344,582 Depreciation/amortization expense 1,293,383 245,070 239,887 66,432 1,844,772 TOTAL OPERATING EXPENSES 7,460,173 3,163,638 2,000,939 611,962 13,236,712 OPERATING INCOME (LOSS) 1,146,529 335,921 (339,679) (20,766) 1,122,005 NON-OPERATING REVENUES (EXPENSES) Rental income 16,380 - 97,449 - 113,829 Interest expense (170,222) - (21,482) -