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

Developers, LLC 6,081,000 0.54% 6 BLC Westwood, LLC 6,034,454 0.54% 7 Embarq Corp. 5,592,401 0.50% 8 HSU Paul S & Majes 4,969,909 0.44% 9 DDRM Shoppes at Paradise Pointe, LLC 4,420,321 0.39% 10 Sprint Florida, Inc. 22,563,122 2.46% 1 Aero Technical Service 9,670,506 1.05% 4 American Senior Living of FWB 8,039,951 0.88% 5 Inland Southeast Paradise Point 5,009,660 0.55% 6 Home Depot USA, Inc. 4,749,285 0.52% 8 Emerald Coast Housing Corp. 4,635,287 0.50% 9 Mariner Plaza Realty Assoc. 4,592,717 0.50% 10 Total Taxable Assessed Value of Principal Taxpayers 87,531,833 7.76% 88,736,690 9.67% Total Taxable Assessed Value of Other Taxpayers 1,040,195,097 92.24% 829,242,759 90.33% Total Taxable Assessed Value $ 1,127,726,930 100.00% $ 917,979,449 100.00% (1) The 2013 tax roll is the basis for Fiscal Year 2013-14 tax revenues. Source: Okaloosa County Property Appraiser 98  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 2013 The 2013 tax levy is the basis for Fiscal Year 2013-14 tax revenues. 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% 2007 6,215,424 5,976,218 96.2% 23,448 5,999,666 96.5% 16,699 0.3% 2006 6,317,712 6,085,783 96.3% 17,701 6,103,484 96.6% 17,752 0.3% 2005 5,481,001 5,271,070 96.2% 23,903 5,294,973 96.6% 17,072 0.3% 2004 4,577,392 4,408,022 96.3% 16,643 4,424,665 96.7% 15,383 0.3% 2003 4,305,962 4,151,604 96.4% 16,263 4,167,867 96.8% 11,174 0.3% (1) Includes discount taken for early payment of taxes (maximum of 4%). Source: Okaloosa County Tax Collector 99  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) 2013 $ - $ 101,696 $ 13,535,936 $ - $ - $ - $73,533 $ 7,068,522 $ 10,035,000 $ 30,814,687 0.36% 1,521.26 2012 - - 661,796 4,470,000 - 13,458 61,221 - 10,315,000 15,521,475 0.20% 768.62 2011 - - 728,480 4,615,000 - 66,118 76,586 - 10,585,000 16,071,184 0.21% 822.73 2010 - 47,374 - 4,755,000 - 141,737 - - 14,005,000 18,949,111 0.26% 930.93 2009 - 93,003 - 4,885,000 - 226,886 - - 14,740,000 19,944,889 0.28% 964.69 2008 - 197,509 - 5,010,000 - 584,170 - - 15,300,000 21,091,679 0.31% 1,008.30 2007 - 260,306 - 7,000,000 - 479,246 - - 15,835,000 23,574,552 0.35% 1,122.17 2006 - 320,764 - 7,295,000 - 614,203 - - 16,345,000 24,574,967 0.37% 1,176.85 2005 - 400,433 - 7,410,000 - 447,370 - - 16,830,000 25,087,803 0.39% 1,209.93 2004 - 186,213 - 5,475,000 - 594,046 - - 6,385,000 12,640,259 0.21% 613.04 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. (1) See Schedule 15 for personal income data. (2) See Schedule 15 for population data. Note: Details regarding the City's outstanding debt can be found in the notes to the financial statements. 100  City of Fort Walton Beach, Florida SCHEDULE 11 RATIO OF NET GENERAL BONDED DEBT OUTSTANDING Last Ten Fiscal Years Unaudited Governmental Activities Percentage of General Actual Taxable Fiscal Year Obligation Bonds Value of Property (1) Per Capita (2) 2013 $ - 0.00% $ - 2012 - 0.00% - 2011 - 0.00% - 2010 - 0.00% - 2009 - 0.00% - 2008 - 0.00% - 2007 - 0.00% - 2006 - 0.00% - 2005 - 0.00% - 2004 - 0.00% - 2003 - 0.00% - 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. (1) See Schedule 6 for property value data. (2) See Schedule 15 for population data. Note: Details regarding the City's outstanding debt can be found in the notes to the financial statements. 101  City of Fort Walton Beach, Florida SCHEDULE 12 PLEDGED REVENUE COVERAGE SCHEDULE OF REVENUE BOND COVERAGE Last Ten Fiscal Years Unaudited Average Non-Ad Valorem Revenues Fiscal Non-Ad Valorem Avail. for Debt Service Requirements (2) Year Revenues (1) Debt Service Principal Interest Total Coverage 2013 $ 26,338,776 $ 25,803,342 $ 364,156 460,197 $ 824,353 31.30 2012 $ 25,267,908 $ 25,556,504