Fort Walton Beach Council agenda — 03-27-12 regular — reading text

22 V1 24 VII Statement of Revenues, Expenses and Changes in Net Assets 25 Vill Statement of Cash Flows Fiduciary Funds 27 IX Statement of Fiduciary Net Assets 28 X Statement of Changes in Fiduciary Net Assets 29 Notes to Financial Statements i PacketPacket Pg.Pg. 2424  6. t. a City of Fort Walton Beach, Florida COMPREHENSIVE ANNUAL FINANCIAL REPORT Year Ended September 30, 2011 Statement/ Page Schedule 11. FINANCIAL SECTION ( CONTINUED) C. REQUIRED SUPPLEMENTARY INFORMATION Pension Schedules 77 A -1 Schedule of Funding Progress Schedule of Contributions from the Employer and Other 78 A -2 Contributing Entities Schedule of Other Post- Employment Obligations 79 A -3 D. COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES Non -Major Governmental Funds 80 B -1 Combining Balance Sheet Combining Statement of Revenues, Expenditures and Changes in Fund Balance 81 B -2 S' h• d ] of Expenditures andChances - nFundBalance- Borneo nod A, too Law Enforcement Trust Special Revenue Fund 82 C- 1 83 C -2 Law Enforcement Trust Training Special Revenue Fund 84 C -3 Community Development Block Grant Special Revenue Fund 85 C -4 Beal Memorial Cemetery Perpetual Care Special Revenue Fund 86 C -5 Debt Service Fund Nan -Major Fund —Enterprise Fund 87 D -1 Statement of Net Assets Statement of Revenues. Expenses and Changes in Net Assets 88 D-2 Statement of Cash Flows 89 D- 3 III. STATISTICAL SECTION ( UNAUDITED) 9090 11 Net Assets by Component 91 2 ChangesChanges inin NetNet AssetsAssets 9393 33 FundFund Balances-Balances- GovernmentalGovernmental FundsFunds Changes in Fund Balances - Govemmental Funds 94 4 95 5 Revenues and Other Sources 9696 66 AssessedAssessed ValueValue ofof TaxableTaxable PropertyProperty Property Tax Rates Per $ 1, 000 of Taxable Value- All Direct and Overlapping 97 7 Governments 11 Packet Pg. 25  8. 1. a City of Fort Walton Beach, Florida COMPREHENSIVE ANNUAL FINANCIAL REPORT Year Ended September 30, 2011 Statement' Page Schedule 111. STATISTICAL SECTION ( UNAUDITED) 98 9 Principal Taxpayers 99 9 Property Tax Levies and Collections 100 10 Ratios of Outstanding Debt by Type 101 17 Ratio of Net General Bonded Debt Outstanding Pledged Revenue Coverage — Sewer Public Improvement Refunding Revenue 102 12 -A Bonds —Series 1999 Pledged Revenue Coverage — Golf Public Improvement Refunding Revenue 103 12 -B Bonds — Series 1999 104 12 -C Pledged Revenue Coverage —Schedule of Revenue Bond Coverage 105 13 Direct and Overlapping Governmental Activities Debt General Obligations Major Employers 106 14 107 15 Miscellaneous Demographical Statistics 109 16 Full -Time Equivalent Employees by Function /Program Permits. Licenses and Recreation Facilities 109 17 110 18 Elections - Okaloosa County Voter Registration 111 19 Special Assessment Billings and Collections 112 20 Major Revenue Sources 113 21 Water and Wastewater Service Rates 114 22 Sanitation and Recycling Service Rates 115 23 Operating Indicators by FunctiorJProgram 116 24 Capital Asset Statistics by Function /Program 117 25 Insurance Coverage IV. COMPLIANCE SECTION Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Gavernmeni Auditing Standards 121 Management Letter 123 111 Packet Pg. 28  F61. THIS PAGE INTENTIONALLY LEFT BLANK.) Packet Pg. 27  F61. 1 March 9, 2012 Honorable Mayor, City Council Members, and Citizens of the City of Fort Walton Beach City of Fort Walton Beach 107 Miracle Strip Parkway SW c0 Fort Walton Beach, FL 32548 Ladies and Gentlemen: The Comprehensive Annual Financial Report of the City of Fort Walton Beach, Florida for the fiscal year ended September 30, 2011 is hereby submitted herewith pursuant to Lacdv`N t Florida Statutes Chapter 218. 32( 1)( d) requiring each local government entity to complete an audit report within twelve months after the end of the fiscal year. This report consists of management' s representations concerning the finances of the City of Fort Walton Beach, Florida. Consequently, management assumes full responsibility for the completeness and reliability of all the information presented in this report. To provide