Fort Walton Beach — Fiscal Year 2019-20 Adopted Budget — reading text

5,285,468 5,390,811 5,498,257 Vehicles & Trucks 483,569 186,000 60,000 60,000 55,000 60,000 Computer HW/SW 1,750 4,520 1,500 1,500 1,500 1,500 Other Capital Outlay 112,773 135,809 150,000 150,000 150,000 150,000 Capital Improvement Projects 42,000 195,000 599,000 500,000 562,500 600,000 Capital Expenses 640,092 521,329 810,500 711,500 769,000 811,500 Debt Service 2015 Refunding 431,000 297,311 664,080 663,116 663,800 664,076 Debt Service - SRF 693,793 1,310,141 943,367 943,367 943,367 943,367 Debt Service 2018 Refunding - 535,501 Transfer Out-Cost Allocation 1,130,539 1,155,411 1,180,830 1,206,808 1,233,358 1,260,492 Transfer Out-GF ROI 1,159,647 675,889 675,889 675,889 675,889 675,889 Other Expenses 3,414,979 3,974,253 3,464,166 3,489,180 3,516,414 3,543,824 TOTAL EXPENSES 10,628,525 12,104,926 12,045,391 12,136,550 12,390,296 12,633,190 Net Cash Incr/(Decr) 492,474 (840,108) (506,281) (316,370) (282,098) (229,853) City of Fort Walton Beach, FL 195 Statistical Information Pro-Forma for Sanitation Fund - 403 Adopted PROJECTED 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 Service Fees - Resid 1,082,751 1,370,526 1,391,084 1,404,995 1,419,045 1,436,073 Service Fees - Comm 876,776 1,098,418 1,109,402 1,120,496 1,131,701 1,143,018 Service Fees - Recylcing 116,683 132,154 134,136 136,148 138,191 140,263 Service Fees - Tipping, Resid 686,162 682,993 693,238 703,636 714,191 724,904 Service Fees - Tipping, Comm 987,323 1,002,495 1,017,532 1,032,795 1,048,287 1,064,012 Fees & Fines 2,272 2,272 2,306 2,341 2,376 2,411 Operating Revenues 3,751,967 4,288,858 4,347,699 4,400,412 4,453,791 4,510,682 Interest & Other Revenues 41,682 27,314 27,860 28,417 28,986 29,566 Non-Operating Revenues 41,682 27,314 27,860 28,417 28,986 29,566 TOTAL REVENUES 3,793,649 4,316,172 4,375,559 4,428,829 4,482,776 4,540,247 Salaries 746,677 779,416 797,343 815,681 834,442 853,634 Social Security & Medicare 48,585 49,612 50,753 51,920 53,115 54,336 Pension Contributions 163,811 157,704 159,281 160,874 162,483 164,107 DC Plan Contributions 21,582 21,061 21,166 21,272 21,378 21,485 Medical Insurance 162,817 192,596 202,226 212,337 222,954 234,102 Workers Compensation 47,142 51,780 52,298 52,821 53,349 53,882 Personal Services 1,190,614 1,252,170 1,283,067 1,314,906 1,347,721 1,381,547 Utilities 9,119 6,583 6,780 6,984 7,193 7,409 Repair and Maintenance 225,831 277,950 283,509 289,179 294,963 300,862 Recycnling Transport - comm - - - - - - Recycnling Transport - resid - - - - - - Landfill Fees - comm 586,340 647,800 651,039 654,294 657,566 660,853 Landfill Fees - resid 481,740 485,100 487,526 489,963 492,413 494,875 Landfill Fees - yard waste 264,260 296,985 298,470 299,962 301,462 302,969 Fuel 124,613 101,871 104,927 108,075 111,317 114,657 Other Operating 162,611 268,783 271,471 274,186 276,927 279,697 Operating Expenses 1,854,514 2,085,072 2,103,722 2,122,643 2,141,841 2,161,323 Vehicles & Trucks 130,000 260,000 260,000 260,000 260,000 260,000 Computer HW/SW - - - - - - Other Capital Outlay - - - - - - Capital Expenses 130,000 260,000 260,000 260,000 260,000 260,000 Transfer Out-Cost Allocation 397,564 406,311 410,374 414,478 418,623 422,809 Transfer Out-Franchise Fee 146,401 227,619 228,757 229,901 231,050 232,206 Other Expenses 543,965 633,930 639,131 644,379 649,673 655,014 TOTAL EXPENSES 3,719,093 4,231,172 4,285,920 4,341,928 4,399,235 4,457,884 Net Cash Incr/(Decr) 74,556 85,000 89,639 86,902 83,541 82,363 Pro-Forma for Stormwater Fund - 405 Adopted PROJECTED 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 Service Fees - Resid 585,028 568,676 610,758 645,571 677,850 711,742 Service Fees - Comm 445,625 420,038 451,121 476,835 500,676 525,710 Operating Revenues 1,030,653 988,714 1,061,879 1,122,406 1,178,526 1,237,453 Interest & Other Revenues 8,625 24,894 25,143 25,394 25,648 25,905 Non-Operating Revenues 8,625 24,894 25,143 25,394 25,648 25,905 TOTAL REVENUES 1,039,278 1,013,608 1,087,022 1,147,800 1,204,175 1,263,357 Salaries 208,173 217,848 222,859 227,984 233,228 238,592 Social Security & Medicare 14,549 15,352 15,705 16,066 16,436 16,814 Pension Contributions 43,104 45,058 45,509 45,964 46,423 46,888 DC Plan Contributions 5,039 5,198 5,224 5,250 5,276 5,303 Medical Insurance 35,794 47,141 49,498 51,973 54,572 57,300 Workers Compensation 17,282 21,887 22,106 22,327 22,550 22,776 Personal Services 323,941 352,483 360,900 369,564 378,485 387,672 Utilities 1,403 1,344 1,384 1,426 1,469 1,513 Repair and Maintenance 60,200 50,550 51,561 52,592 53,644 54,717 Fuel 7,623 3,216 3,312 3,412 3,514 3,620 Other Operating 104,369 111,333 112,446 113,571 114,707 115,854 Operating Expenses 173,595 166,443 168,704 171,001 173,333 175,703 Vehicles & Trucks 37,424 119,000 119,000 119,000 119,000 119,000 Computer HW/SW - 900 900 900 900 - Other Capital Outlay - 5,750 - - - - Capital Improvements 150,000 - 200,000 225,000 250,000 300,000 Capital Expenses 187,424 125,650 319,900 344,900 369,900 419,000 Transfer Out-Cost Allocation 168,507 172,214 173,936 175,676 177,432 179,207 Transfer Out-Franchise Fee 58,251 60,816 61,120 61,426 61,733 62,041 Other Expenses 226,758 233,030 235,056 237,101 239,165 241,248 TOTAL EXPENSES 911,718 877,606 1,084,560 1,122,566 1,160,884 1,223,623 Net Cash Incr/(Decr) 127,560 136,002 2,461 25,234 43,291 39,734 City of Fort Walton Beach, FL 196  GLOSSARY OF TERMS ACCRUAL BASIS OF ACCOUNTING A basis of accounting under which the financial effects of transactions, events, and interfund activities are recognized when they occur, regardless of the timing of related cash flows. All proprietary funds use the accrual basis of accounting. AD VALOREM A Latin term meaning “according to value” commonly used when referring to property taxes. ADOPTED BUDGET An annual budget approved by City Council each September detailing the revenues and expenditures of the City for the upcoming fiscal year. ANNUAL BUDGET A budget applicable to a single fiscal year. AMENDED BUDGET A revised version of the adopted budget prepared after the close of each fiscal year to reflect actual revenues and expenditures. AMENDMENT ONE A Florida constitutional amendment approved by voters in 2008 that provides 1) an additional $25,000 homestead exemption, 2) a 10% annual cap for assessed value increases to non-homesteaded properties, 3) a $25,000 exemption for tangible personal property, and 4) portability of accrued “Save Our Homes” benefits. APPROPRIATED BUDGET An expenditure authority created by Ordinance, which is signed into law, and the related estimated revenues. The appropriated budget includes all reserves, transfers, allocations, supplemental appropriations, and other legally authorized legislative and executive changes. APPROPRIATION A legal authorization granted by a legislative body to make expenditures and to incur obligations for specific purposes. APPROPRIATION FROM FUND BALANCE A non-revenue funding source used to bridge the gap between anticipated revenues and expenditures in the adopted budget of governmental, special revenue, and similar funds. APPROPRIATION FROM NET ASSETS A non-revenue funding source used to bridge the gap between anticipated revenues and expenditures in the adopted budget of enterprise funds. ASSESSED VALUE A dollar value of property (land and/or structures) assigned by a public tax assessor for the