Fort Walton Beach — Annual Comprehensive Financial Report, September 30, 2022 — reading text

1,871,295 (157,294) 87,797 533,515 1,314,521 151,049 93,282 211,962 89,963 46,063 Total business-type activities program revenues 16,344,912 12,595,921 13,598,203 15,135,721 16,866,633 15,638,869 16,382,085 16,537,247 17,363,940 17,852,254 Total primary government program revenues $ 19,198,472 $ 16,729,818 $ 18,430,543 $ 20,568,306 $ 21,571,375 $ 21,512,296 $ 21,196,858 $ 25,598,327 $ 25,952,156 $ 25,656,525 Continued… Continued… 107  City of Fort Walton Beach, Florida SCHEDULE 2 CHANGES IN NET POSITION Last Ten Fiscal Years (full accrual basis of accounting) 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Net (Expense)/Revenue Governmental activities $ (15,679,827) $ (16,734,601) $ (16,075,000) $ (17,188,389) $ (19,762,827) $ (18,259,458) $ (19,687,778) $ (16,971,031) $ (19,005,508) $ (20,482,803) Business-type activities 2,901,886 (424,092) 612,870 1,049,609 3,077,757 1,326,526 1,936,971 2,632,567 1,751,580 2,193,361 Total primary government $ (12,777,941) $ (17,158,693) $ (15,462,130) $ (16,138,780) $ (16,685,070) $ (16,932,932) $ (17,750,807) $ (14,338,464) $ (17,253,928) $ (18,289,442) General Revenues and Other Changes in Net Position Governmental activities Taxes Property taxes $ 4,175,136 $ 5,385,235 $ 5,473,438 $ 5,617,998 $ 5,807,598 $ 6,041,303 $ 6,416,668 $ 6,573,751 $ 6,608,861 $ 7,025,573 Sales taxes 2,241,242 2,362,190 2,557,062 2,707,153 2,792,840 2,941,301 4,335,114 4,940,279 6,021,460 6,401,055 Utility service taxes 3,761,437 3,889,976 4,036,009 3,931,939 3,962,859 4,182,026 4,045,085 4,024,523 4,136,505 4,294,415 Tax Increments for Redevelopment district 1,311,101 1,501,208 1,552,560 1,628,439 1,649,589 1,811,121 1,893,803 2,369,529 2,320,213 2,404,122 Franchise Fees 1,764,733 2,004,101 2,162,617 2,202,420 2,034,209 2,131,104 2,084,717 2,070,302 2,146,088 2,355,837 Intergovernmental, unrestricted 818,039 819,556 896,837 910,615 981,613 1,009,901 1,034,884 978,949 1,101,020 1,374,067 Gain on sale of assets 37,833 520,152 524,720 873,101 - - 66,523 158,530 740,344 39,877 Miscellaneous 106,546 103,986 199,776 27,976 157,806 93,106 77,264 44,913 93,227 83,470 Investment earnings (losses) 62,285 345,734 272,076 444,972 414,160 263,824 1,225,235 1,071,190 743,927 (1,498,120) Special item: Impairment loss (271,287) - - - - - - - - - Transfers (2,145,441) 2,851,638 657,558 755,846 761,739 847,373 1,091,579 1,747,686 1,759,782 1,797,083 Total governmental activities 11,861,624 19,783,776 18,332,653 19,100,459 18,562,413 19,321,059 22,270,872 23,979,652 25,671,427 24,277,379 Business-type activities Gain on sale of assets 20,662 22,813 716 26,093 32,663 14,258 44,914 16,801 260,579 - Miscellaneous 6,504 6,839 9,222 5,502 27,727 16,575 17,671 1,551 105,520 4,088 Investment earnings (losses) 11,107 55,669 159,761 165,583 85,567 9,388 713,509 624,999 31,984 (876,524) Special item: Impairment loss (786,713) - - - - - - - - - Transfers 2,145,441 (2,851,638) (657,558) (755,846) (761,739) (847,373) (1,091,579) (1,747,686) (1,759,782) (1,797,083) Total business-type activities 1,397,001 (2,766,317) (487,859) (558,668) (615,782) (807,152) (315,485) (1,104,335) (1,361,699) (2,669,519) Total primary government $ 13,258,625 $ 17,017,459 $ 17,844,794 $ 18,541,791 $ 17,946,631 $ 18,513,907 $ 21,955,387 $ 22,875,317 $ 24,309,728 $ 21,607,860 Change in Net Position Governmental activities $ (3,818,203) $ 3,049,175 $ 2,257,653 $ 1,912,070 $ (1,200,414) $ 1,061,601 $ 2,583,094 $ 7,008,621 $ 6,665,919 $ 3,794,576 Business-type activities 4,298,887 (3,190,409) 125,011 490,941 2,461,975 519,374 1,621,486 1,528,232 389,881 (476,158) Total primary government $ 480,684 $ (141,234) $ 2,382,664 $ 2,403,011 $ 1,261,561 $ 1,580,975 $ 4,204,580 $ 8,536,853 $ 7,055,800 $ 3,318,418 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 FY13, Cost Allocations were reported as expense reductions in General Government - in prior years they were reported as transfers. Note: Beginning in FY14, the Golf Enterprise Fund was transferred into the General Fund. 108  City of Fort Walton Beach, Florida SCHEDULE 3 FUND BALANCES - GOVERNMENTAL FUNDS Last Ten Fiscal Years (modified accrual basis of accounting) 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 General Fund Nonspendable $ 254,229 $ 262,964 $ 249,732 $ 240,865 $ 245,181 $ 250,315 $ 269,837 $ 286,427 $ 259,960 $ 284,342 Restricted 7,868,522 4,083,267 183,512 163,817 93,456 66,707 4,497,485 2,248,298 5,712,331 6,164,287 Committed 5,501,353 5,589,056 5,761,221 6,009,523 6,687,557 6,663,230 8,019,062 8,045,739 8,649,189 10,409,244 Assigned 1,301,385 1,584,887 1,396,207 1,198,378 1,891,555 1,913,861 2,341,510 2,184,202 3,908,571 3,096,152 Unassigned 788,076 1,300,881 2,225,633 4,356,681 3,561,586 2,282,375 3,291,695 8,218,150 8,845,558 7,300,353 Total general fund $ 15,713,565 $ 12,821,055 $ 9,816,305 $ 11,969,264 $ 12,479,335 $ 11,176,488 $ 18,419,589 $ 20,982,816 $ 27,375,609 $ 27,254,378 All Other Governmental Funds Nonspendable $ - $ 798 $ 848 $ 1,762 $ - $ - $ - $ - $ - $ - Restricted 4,316,961 4,663,961 2,410,554 1,995,283 2,000,532 2,280,882 2,365,348 3,960,753 5,215,214 6,599,208 Committed 2,035,225 2,249,720 2,259,756 2,467,828 2,739,865 2,974,049 3,120,593 3,451,682 4,154,232 3,435,513 Unassigned (2,745) (6,231) - - (5,861) (19,270) (31,326) (17,483) (19,782) (19,782) Total all other governmental funds $ 6,349,441 $ 6,908,248 $ 4,671,158 $ 4,464,873 $ 4,734,536 $ 5,235,661 $ 5,454,615 $ 7,394,952 $ 9,349,664 $ 10,014,939 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.