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

$ 497,049 697,060 $1,194,109 21.40 2011 25,845,100 26,274,792 468,935 695,713 1,164,648 22.56 2010 26,704,483 26,355,374 510,000 874,423 1,384,423 19.04 2009 26,006,265 28,208,317 340,000 889,985 1,229,985 22.93 2008 30,410,368 31,235,238 325,000 904,730 1,229,730 25.40 2007 32,060,108 30,760,329 315,000 918,699 1,233,699 24.93 2006 29,460,549 31,084,778 300,000 931,488 1,231,488 25.24 2005 32,709,007 29,841,670 285,000 552,986 837,986 35.61 2004 26,974,332 26,011,445 275,000 492,124 767,124 33.91 (1) Non-Ad Valorem Revenues of General Fund, Capital Projects Fund, other governmental funds, and proprietary funds. (2) Combined Debt Service requirements for Capital Improvement Revenue Note Series 2013 & 2013A, Utility System Revenue Bond, Series 2005, and 2011 Revenue Notes. See Financial Statement Notes for detail. 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. 102  City of Fort Walton Beach, Florida SCHEDULE 13 DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT Unaudited Percentage Amount Net Debt Applicable to Applicable to Governmental Unit Outstanding Fort Walton Beach Fort Walton Beach Overlapping Debt Okaloosa County Revenue Bonds $ 29,192,000 (1) 10.84% (3) $ 3,164,014 Okaloosa County School District Certificates of Participation $ 53,576,000 31.11% (2) $ 16,668,089 Subtotal: Overlapping Debt $ 82,768,000 $ 19,832,103 Direct Debt City of Fort Walton Beach Revenue Notes $ 661,796 100.00% $ 661,796 City of Fort Walton Beach Revenue Bonds $ 4,470,000 100.00% $ 4,470,000 Subtotal: Direct Debt $ 5,131,796 $ 5,131,796 Total Direct and Overlapping Debt $ 87,899,796 $ 24,963,900 Source: Okaloosa County, Okaloosa County School Board (1) Clerk of Courts financial statements not available for FY 2012-2013, number estimated from FY 2011-2012 information. (2) Calculation based on total schools in Okaloosa County School District versus schools in Fort Walton Beach. (3) Calculation based on total population in Okaloosa County versus population in Fort Walton Beach. 103  City of Fort Walton Beach, Florida SCHEDULE 14 MAJOR EMPLOYERS Unaudited 2013 2004 Percentage Percentage of Total of Total Employer Product Employees Employment Ranking Employees Employment Ranking USAF - Eglin(1) Air Force Development Test Center 19,101 19.66% 1 20,000 21.95% 1 (2) USAF - Hurlburt Air Force Special Ops Command 10,055 10.35% 2 8,734 9.59% 2 Okaloosa County School District Education Services 3,417 3.52% 3 3,718 4.08% 3 Jacobs Technology - TEAS Group Military Technical Support 1,483 1.53% 4 (3) Okaloosa County Local Government Services 1,378 1.42% 5 1,360 1.49% 4 Fort Walton Beach Medical Center Medical Services 1,250 1.29% 6 975 1.07% 6 Northwest Florida State College Education Services 1,152 1.19% 7 L-3 Cresview Aerospace Military Technical Support 1,064 1.09% 8 Lockheed Martin Corporation Military Technical Support 800 0.82% 9 InDyne Inc Military Technical Support 800 0.82% 10 ResortQuest Property Management 0.00% 1,300 1.43% 5 DRS Training and Control Systems Defense Electronics 0.00% 747 0.82% 9 BAE Systems Technical Services Military Technical Support 0.00% 900 0.99% 8 North Okaloosa Medical Center Medical Services 0.00% 625 0.69% 10 State of Florida State Government Services 0.00% 966 1.06% 7 7 40,500 43.03% 39,325 45.57% (1) Includes military, civilian, and contractor personnel; a portion of contractor personnel may be duplicated with private sector employees also listed here. (2) Includes military and civilian personnel. (3) Includes County Commission, Clerk of Court, Property Appraiser, Sheriff, Supervisor of Elections, and Tax Collector. Source: Personnel Department of each employer 104  City of Fort Walton Beach, Florida SCHEDULE 15 MISCELLANEOUS DEMOGRAPHICAL STATISTICS Last Ten Fiscal Years Unaudited Fiscal Fort Walton Beach Okaloosa County FWB as a % Personal Income Per Capita Unemployment Year Population Population of the County (thousands of dollars) Personal Income Rate 2013 20,256 186,887 10.84% $ 8,546,210 $ 44,960 4.7% 2012 20,194 185,803 10.87% 7,913,960 43,132 6.0% 2011 19,534 180,280 10.84% 7,497,082 42,007 7.3% 2010 20,355 195,346 10.42% 7,369,683 41,050 8.0% 2009 20,675 196,237 10.54% 7,090,979 39,158 7.2% 2008 20,918 197,597 10.59% 6,861,716 37,497 4.8% 2007 21,008 196,540 10.69% 6,781,908 37,423 2.9% 2006 20,882 192,672 10.84% 6,761,736 36,529 2.4% 2005 20,735 188,939 10.97% 6,360,148 34,755 2.9% 2004 20,619 185,778 11.10% 5,982,411 33,068 3.4% OKALOOSA COUNTY EDUCATION FY 2013 FY 2012 FY 2011 Schools: Grades K-5 18 18 18 Grades 6-8 7 7 7 Grades 9-12 4 4 4 PK-12 / Charter / Alternate 2 / 4 / 10 2 / 4 / 10 2 / 4 / 10 Grades K-8 1 1 1 Vocational / Technical 1 1 1 Exceptional Children 2 2 2 Students: Grades K-5 14,197 13,509 13,891 Grades 6-8 6,698 6,546 6,046 Grades 9-12 8,917 8,954 8,381 Adult Students 310 288 280 Exceptional Children 3,995 4,037 4,031 Personnel: Instructional (Classroom) 1,888 1,844 1,896 Non-Instructional 868 933 941 Source: Office of Economic &