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

For the Year Ended September 30, 2013 Stormwater Fund CASH FLOWS FROM OPERATING ACTIVITIES Receipts from customers and users $ 619,417 Payments to suppliers (281,268) Payments to employees (263,404) Miscellaneous income 976 Net cash provided by operating activities 75,721 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Acquisitions of capital assets (21,500) Proceeds from disposal of capital assets 439 Net cash provided (used) by capital and related financing activities (21,061) NET CASH FLOWS FROM INVESTING ACTIVITIES Interest income 519 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 55,179 CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR 480,285 CASH AND CASH EQUIVALENTS - END OF YEAR $ 535,464 RECONCILIATION OF OPERATING INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES Operating income $ (20,766) Adjustments to reconcile operating income to net cash provided by operating activities Depreciation 66,432 Miscellaneous revenue 976 Decrease (increase) in assets Accounts receivable 28,221 Increase (decrease) in liabilities Accounts payable (22,449) Compensated absences payable (1,005) Wages 5,805 Other liabilities (266) Other post-employment benefits 18,773 Net cash provided by operating activities $ 75,721 89 (THIS PAGE INTENTIONALLY LEFT BLANK.) III. STATISTICAL SECTION This section contains statistical tables reflecting various supplemental financial data concerning General Government and Proprietary Fund Operations. When applicable, a 10-year history has been depicted to disclose trends in finance-related matters. These tables have been included as a part of this report for information purposes only, and therefore, have not been subjected to audit by the City’s independent certified public accountants.  The statistical section of the City's comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures and required supplementary information says about the City's overall financial health. Financial Trends These schedules contain trend information to help the reader understand how the City's financial performance and well-being have changed over time. Revenue Capacity These schedules contain information to help the reader assess the City's most significant local revenue source, the property tax. Debt Capacity These schedules present information to help the reader assess the affordability of the City's current levels of outstanding debt and the City's ability to issue additional debt in the future. Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader understand the environment within which the City's financial activities take place. Operating Information These schedules contain service and infrastructure data to help the reader understand how the information in the City's financial report relates to the services the City provides and the activities it performs. 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 34 in 2002; schedules presenting government-wide information include information beginning in that year.  City of Fort Walton Beach, Florida SCHEDULE 1 NET POSITION BY COMPONENT Last Ten Fiscal Years (full accrual basis of accounting) (amounts expressed in thousands) 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Governmental Activities Invested in capital assets, net of related debt $ 19,401,390 $ 17,236,582 $ 21,097,792 $ 22,013,431 $ 21,095,355 $ 20,563,790 $ 20,605,683 $ 24,756,705 $ 25,379,050 $ 23,531,576 Restricted Debt service 92,153 92,544 92,788 92,730 91,713 91,713 92,880 113,816 113,507 21,156 Capital projects 685,174 700,975 241,114 56,550 - - - - - - Improvement districts - - - - - - - 4,212,984 3,736,100 3,833,430 Public safety 301,230 305,647 266,492 307,983 307,983 254,409 269,600 268,820 262,648 462,375 Perpetual care - expendable 1,488,402 1,556,661 1,663,521 1,787,789 1,877,086 1,869,558 1,898,445 - - - Other purposes 817,932 533,486 474,924 657,116 473,655 463,168 477,194 234,568 194,193 177,129 Unrestricted 10,131,552 13,959,800 11,385,751 8,564,657 9,821,155 9,347,576 8,975,046 12,666,165 11,487,979 9,329,608 Total governmental activities net position $ 32,917,833 $ 34,385,695 $ 35,222,382 $ 33,480,256 $ 33,666,947 $ 32,590,214 $ 32,318,848 $ 42,253,058 $ 41,173,477 $ 37,355,274 Business-Type Activities Invested in capital assets net of related debt $ 19,907,722 $ 20,014,208 $ 20,352,399 $ 21,051,160 $ 21,043,965 $ 17,577,019 $ 18,928,438 $ 17,037,456 $ 14,929,648 $ 20,766,800 Restricted Debt service 317,444 319,139 333,522 323,430 316,153 471,441 481,023 184,711 184,933 1,087,405 System improvements 160,754 352,360 106,434 39,414 60,709 98,292 61,559 82,573 112,863 305,508 Unrestricted 7,820,602 7,652,753 8,358,417 9,011,906 8,301,545 8,276,703 6,791,840 6,859,952 8,552,169 5,918,787 Total business-type activities net position $ 28,206,522 $ 28,338,460 $ 29,150,772 $ 30,425,910 $ 29,722,372 $ 26,423,455 $ 26,262,860 $ 24,164,692 $ 23,779,613 $ 28,078,500 Primary Government Invested in capital assets net of related debt $ 39,309,112 $ 37,250,790 $ 41,450,191 $ 43,064,591 $ 42,139,320 $ 38,140,809 $ 38,728,907 $ 41,794,161 $ 40,308,698 $ 44,298,376 Restricted 3,863,089 3,860,812 3,178,795 3,265,012 3,127,299 3,257,332 3,297,029 5,097,472 4,604,244 5,887,003 Unrestricted 17,952,154 21,612,553 19,744,168 17,576,563 18,122,700 17,624,279 16,805,772 19,526,117 20,040,148 15,248,395 Total primary government net position $ 61,124,355 $ 62,724,155 $ 64,373,154 $ 63,906,166 $ 63,389,319 $ 59,022,420 $ 58,831,708 $ 66,417,750 $ 64,953,090 $ 65,433,774 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 90  City of Fort Walton Beach, Florida SCHEDULE 2 CHANGES IN NET POSITION Last Ten Fiscal Years (full accrual basis of accounting) 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Expenses Governmental activities General government $ 5,884,025 $ 6,935,799 $ 4,841,926 $ 4,563,855 $ 5,494,094 $ 4,625,871 $ 5,306,003 $ 3,765,536 $ 4,314,050 $ 2,662,406 Public safety 6,952,351 7,623,363 8,032,018 9,641,338 10,048,884 9,908,644 9,231,632 9,206,784 9,805,368 9,729,228 Physical environment 276,987 276,525 299,362 354,439 343,411 350,374 304,907 393,752 383,970 379,681 Transportation