Fort Walton Beach — Comprehensive Financial Report September 30, 2015 — reading text

9,869 Other post-employment benefits 24,202 Net pension liability 67,773 Total non-current liabilities 101,844 TOTAL LIABILITIES 121,295 DEFERRED INFLOWS OF RESOURCES 5,274 NET POSITION Invested in capital assets, net of related debt 1,126,349 Unrestricted 703,865 TOTAL NET POSITION $ 1,830,214 100  CITY OF FORT WALTON BEACH, FLORIDA NON-MAJOR PROPRIETARY FUND STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION FOR THE YEAR ENDED SEPTEMBER 30, 2015 Stormwater Fund OPERATING REVENUES Charges for services $ 694,581 OPERATING EXPENSES Personal services 176,670 Operating 208,911 Depreciation/amortization expense 74,733 Total operating expenses 460,314 OPERATING INCOME 234,267 NON-OPERATING REVENUES (EXPENSES) Gain on investment 710 Interest 7,185 Miscellaneous 232 Total non-operating revenues (expenses) 8,127 OPERATING INCOME BEFORE CAPITAL CONTRIBUTIONS 242,394 CAPITAL CONTRIBUTIONS 35,542 CHANGE IN NET POSITION 277,936 NET POSITION AT BEGINNING OF YEAR, RESTATED 1,552,278 NET POSITION AT END OF YEAR $ 1,830,214 101  CITY OF FORT WALTON BEACH, FLORIDA NON-MAJOR PROPRIETARY FUND STATEMENT OF CASH FLOWS FOR THE YEAR ENDED SEPTEMBER 30, 2015 Stormwater Fund CASH FLOWS FROM OPERATING ACTIVITIES Receipts from customers and users $ 687,508 Payments to suppliers (209,533) Payments to employees (183,798) Miscellaneous income 232 Net cash provided by operating activities 294,409 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Acquisitions of capital assets (69,626) CASH FLOWS FROM INVESTING ACTIVITIES Interest income 7,895 NET INCREASE IN CASH AND CASH EQUIVALENTS 232,678 CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 493,930 CASH AND CASH EQUIVALENTS AT END OF YEAR $ 726,608 RECONCILIATION OF OPERATING INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES Operating income $ 234,267 Adjustments to reconcile operating income to net cash provided by operating activities: Depreciation 74,733 Miscellaneous revenue 232 Decrease (increase) in assets: Accounts receivable (7,073) Decrease (increase) in deferred outflows of resources (1,139) Increase (decrease) in liabilities: Accounts payable (598) Compensated absences payable 3,522 Wages 141 Other liabilities (24) Other post-employment benefits 1,584 Net pension liability (16,510) Increase (decrease) in deferred inflows of resources 5,274 Net cash provided by operating activities $ 294,409 102 (THIS PAGE INTENTIONALLY LEFT BLANK.)  City of Fort Walton Beach, Florida SCHEDULE 1 NET POSITION BY COMPONENT(1) Last Ten Fiscal Years (full accrual basis of accounting) 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Governmental Activities Net investment in capital assets $ 21,097,792 $ 22,013,431 $ 21,095,355 $ 20,563,790 $ 20,605,683 $ 24,756,705 $ 25,379,050 $ 23,531,576 $ 24,866,399 $ 27,443,877 Restricted Debt service 92,788 92,730 91,713 91,713 92,880 113,816 113,507 21,156 25,449 25,449 Capital projects 241,114 56,550 - - - - - - - - Improvement Districts - - - - - 4,212,984 3,736,100 3,833,430 4,073,364 1,874,265 Public safety 266,492 307,983 307,983 254,409 269,600 268,820 262,648 462,375 565,946 507,625 Perpetual care - expendable 1,663,521 1,787,789 1,877,086 1,869,558 1,898,445 - - - - - Other purposes 474,924 657,116 473,655 463,168 477,194 234,568 194,193 177,129 172,630 187,575 Unrestricted 11,385,751 8,564,657 9,821,155 9,347,576 8,975,046 12,666,165 11,487,979 9,329,608 10,700,661 159,868 Total governmental activities net position $ 35,222,382 $ 33,480,256 $ 33,666,947 $ 32,590,214 $ 32,318,848 $ 42,253,058 $ 41,173,477 $ 37,355,274 $ 40,404,449 $ 30,198,659 Business-Type Activities Net investment in capital assets $ 20,352,399 $ 21,051,160 $ 21,043,965 $ 17,577,019 $ 18,928,438 $ 17,037,456 $ 14,929,648 $ 17,305,881 $ 13,779,184 $ 12,886,793 Restricted Debt service 333,522 323,430 316,153 471,441 481,023 184,711 184,933 1,087,405 1,082,935 157,228 System improvements 106,434 39,414 60,709 98,292 61,559 82,573 112,863 305,508 367,263 382,734 Unrestricted 8,358,417 9,011,906 8,301,545 8,276,703 6,791,840 6,859,952 8,552,169 9,379,587 9,658,709 10,656,992 Total business-type activities net position $ 29,150,772 $ 30,425,910 $ 29,722,372 $ 26,423,455 $ 26,262,860 $ 24,164,692 $ 23,779,613 $ 28,078,381 $ 24,888,091 $ 24,083,747 Primary Government Net investment in capital assets $ 41,450,191 $ 43,064,591 $ 42,139,320 $ 38,140,809 $ 38,728,907 $ 41,794,161 $ 40,308,698 $ 40,837,576 $ 38,645,583 $ 40,330,670 Restricted 3,178,795 3,265,012 3,127,299 3,257,332 3,297,029 5,097,472 4,604,244 5,887,003 6,287,587 3,134,876 Unrestricted 19,744,168 17,576,563 18,122,700 17,624,279 16,805,772 19,526,117 20,040,148 18,709,195 20,359,370 10,816,860 Total primary government net position $ 64,373,154 $ 63,906,166 $ 63,389,319 $ 59,022,420 $ 58,831,708 $ 66,417,750 $ 64,953,090 $ 65,433,774 $ 65,292,540 $ 54,282,406 (1) 2015 represents the implementation of GASB Statement 68, Accounting and Financial Reporting for Pensions - an amendment of GASB Statement 27. 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 103  City of Fort Walton Beach, Florida SCHEDULE 2 CHANGES IN NET POSITION Last Ten Fiscal Years (full accrual basis of accounting) 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Expenses Governmental activities General government $ 4,841,926 $ 4,563,855 $ 5,494,094 $ 4,625,871 $ 5,306,003 $ 3,765,536 $ 4,314,050 $ 2,662,406 $ 3,179,768 $ 2,735,875 Public safety 8,032,018 9,641,338 10,048,884 9,908,644 9,231,632 9,206,784 9,805,368 9,729,228 9,685,621 9,562,140 Physical environment 299,362 354,439