Receivables as of September 30, 2014 for the government’s individual major funds and nonmajor, internal service, and fiduciary funds in the aggregate, including the applicable allowances for uncollectible accounts, are as follows:
Due From Less: Net Total
Accounts Other Total Allowance for Receivables
Funds Receivable Governments Receivables Doubtful Accounts Sept. 30, 2014
General $ 140,262 $ 4,432,854 $ 4,573,116 $ - $ 4,573,116 Tourist Development 2,960,690 78,506 3,039,196 - 3,039,196 Water and Sewer 2,642,618 2,199,331 4,841,949 (191,992) 4,649,957 Airport 1,638,487 944,623 2,583,110 (557,095) 2,026,015 Solid Waste 646,382 - 646,382 - 646,382 Nonmajor and
Other Funds 9,729,092 3,427,631 13,156,723 (5,008,729) 8,147,994
Total $ 17,757,531 $ 28,840,47611,082,945 $ (5,757,816)$ $ 23,082,660
Okaloosa County, Florida
NOTES TO FINANCIAL STATEMENTS Fiscal Year Ended September 30, 2014
50
NOTE 4 – RECEIVABLES / UNEARNED AND UNAVAILABLE REVENUE - CONTINUED
Governmental funds report unavailable revenue in connection with receivables that are not considered to be available to liquidate liabilities of the current period. Governmental funds also defer revenue recognition in connection with resources received, but not yet earned. At September 30, 2014, the various components of unearned/unavailable revenue were as follows:
Unavailable (1) Unearned
General Fund
Grant Revenue $ - $ 677,702 Rent/Commissions Received in Advance - 24 Tourist Development
Event Revenue - 53,682 Nonmajor Funds
Grant Revenue 1,100,000 796,833 Federal Forfeitures - 464,404 Courts Special Revenue - 267,298 Total unearned/unavailable revenue
for governmental funds $ 1,100,000 $ 2,259,943 (1) Unavailable revenue is presented as a deferred inflow of resources in the governmental funds and recognized as revenues when earned in the Statement of Activities.
Okaloosa County, Florida
NOTES TO FINANCIAL STATEMENTS Fiscal Year Ended September 30, 2014
51 NOTE 5 – CAPITAL ASSETS
Capital asset activity for the year ended September 30, 2014 was as follows:
Beginning Ending
Balance Increases Decreases Balance
Governmental activities:
Capital assets, not being depreciated/amortized:
Land $ 11,558,076 $ - $ - $ 11,558,076 Intangibles 1,146,905 - - 1,146,905 Construction in progress 2,082,658 3,862,188 (1,440,267) 4,504,579 Works of Art - 29,195 - 29,195 Total capital assets,
not being depreciated/amortized 14,787,639 3,891,383 (1,440,267) 17,238,755 Capital assets, being depreciated/amortized:
Buildings 72,331,896 18,632,080 - 90,963,976 Improvements other than buildings 32,840,498 2,215,765 - 35,056,263 Intangibles 1,786,099 127,240 - 1,913,339 Machinery and equipment 52,276,594 3,478,719 (4,449,789) 51,305,524 Infrastructure 147,485,144 1,236,771 - 148,721,915 Total capital assets
being depreciated/amortized 306,720,231 25,690,575 (4,449,789) 327,961,017 Less accumulated depreciation/amortization for:
Buildings (23,084,505) (7,060,336) - (30,144,841) Improvements other than buildings (9,145,406) (937,604) - (10,083,010) Intangibles (1,567,756) (137,165) - (1,704,921) Machinery and equipment (43,112,456) (3,420,504) 5,705,529 (40,827,431) Infrastructure (80,672,237) (2,127,134) - (82,799,371) Total accumulated depreciation/amortization (157,582,360) (13,682,743) 5,705,529 (165,559,574) Total capital assets,
being depreciated/amortized, net 149,137,871 12,007,832 1,255,740 162,401,443 Governmental activities capital assets, net $ 163,925,510 $ 15,899,215 $ (184,527) $ 179,640,198
Note: The “Increases” column includes transfers of assets purchased in prior years from business-type activities to governmental activities as well as reclassifications from completed multiyear construction projects. Therefore the amounts in the column will not be equal to capital outlay.
Okaloosa County, Florida
NOTES TO FINANCIAL STATEMENTS Fiscal Year Ended September 30, 2014
52 NOTE 5 – CAPITAL ASSETS - CONTINUED
Beginning Ending
Balance Increases Decreases Balance
Business-type activities
Capital assets, not being depreciated/amortized:
Land $ 11,317,940 $ 142,530 $ - $ 11,460,470 Construction in progress 7,414,812 4,897,037 (4,048,306) 8,263,543 Works of art 99,060 - (29,195) 69,865 Total capital assets,
not being depreciated/amortized 18,831,812 5,039,567 (4,077,501) 19,793,878 Capital assets, being depreciated/amortized:
Buildings 88,401,669 1,077,949 (18,327,812) 71,151,806 Improvements other than buildings 308,598 - (31,822) 276,776 Intangibles 866,675 - (23,840) 842,835 Machinery and equipment 20,770,573 2,762,635 (4,009,469) 19,523,739 Infrastructure 329,385,842 6,044,853 (1,057,669) 334,373,026 Total capital assets
being depreciated/amortized 439,733,357 9,885,437 (23,450,612) 426,168,182 Less accumulated depreciation/amortization for:
Buildings (19,370,834) (1,795,018) 4,729,100 (16,436,752) Improvements other than buildings (170,209) (9,226) 14,896 (164,539) Intangibles (735,504) (97,780) 23,840 (809,444) Machinery and equipment (17,389,479) (1,066,865) 3,524,519 (14,931,825) Infrastructure (102,144,506) (8,177,002) 86,372 (110,235,136) Total accumulated depreciation/amortization (139,810,532) (11,145,891) 8,378,727 (142,577,696) Total capital assets,
being depreciated/amortized, net 299,922,825 (1,260,454) (15,071,885) 283,590,486 Business-type activities capital assets, net $ 318,754,637 $ 3,779,113 $ (19,149,386) $ 303,384,364
Depreciation expense was charged to functions/programs as follows.
Depreciation Amortization Governmental activities:
General government $ 1,854,243 $ 52,537
Public safety 2,294,166 3,717
Physical environment 91,582
-Transportation, including depreciation of general infrastructure assets 2,724,420 9,800
Economic environment 34,892
-Human services 349,787
-Culture and recreation 1,126,284
-Court related 221,778 47,271
Capital assets held by the government's internal service funds are
charged to the various functions based on their usage of the assets 18,058 -Total depreciation expense - governmental activities $ 8,715,210 $ 113,325
Okaloosa County, Florida
NOTES TO FINANCIAL STATEMENTS Fiscal Year Ended September 30, 2014
53 NOTE 5 – CAPITAL ASSETS - CONTINUED
Depreciation Amortization Business-type activities:
Water and sewer $ 6,455,961 $ 97,780
Airport 4,031,951
-Solid waste 80,885
-Convention center -
-Other enterprise funds 431,047
-Total depreciation expense - business-type activities $ 10,999,844 $ 97,780 Construction Commitments
Shalimar Administration Building
The Board has entered into contract to build an administration building. The contract totals
$5,837,940. Cumulative expenditures total $1,166,434, with $4,671,506 remaining liability outstanding at September 30, 2014
Crestview Courthouse Remodel
The Board has entered into contract to design and remodel the Crestview Courthouse. The contract totals $1,296,000. Cumulative expenditures total $193,400, with $1,102,600 remaining liability outstanding at September 30, 2014.
Road and Other Infrastructure Improvements
The Board has entered into contracts to improve parks and other infrastructure at various locations throughout the County. The contracts total $764,764. Cumulative expenditures total $431,507, with
$333,257 remaining liability outstanding at September 30, 2014.
Water and Sewer Expansion and Renovation
The Water and Sewer System is continuing significant expansion and renovations throughout the County. Based on the fiscal year 2015 capital budget, total expenditures will approximate $27,485,781 on contracted projects, which includes $9,865,595 for Arbennie expansion, $5,043,452 to divert flow, and $2,288,539 for land buffer.
Okaloosa County, Florida
NOTES TO FINANCIAL STATEMENTS Fiscal Year Ended September 30, 2014
54 NOTE 6 – COMPENSATED ABSENCES
Each constitutional officer’s policy for compensated absences is summarized below.
Board of County Commissioners and Supervisor of Elections
The policy of the Board of County Commissioners and the Supervisor of Elections for annual and sick leave and compensatory time is as follows:
Employees may accrue an unlimited amount of annual and sick leave. The employees earn leave at varying rates per month based on their work schedules.
Years of 40 hours/ 45 hours/ 24 hours on/
Service week week 48 hours off
Annual Leave
Full time employees 0-5 8 hours 9 hours 11 hours
6-10 10 hours 11 hours 14 hours
11-15 12 hours 14 hours 17 hours
16-20 14 hours 16 hours 20 hours
21-25 16 hours 18 hours 22 hours
26+ 18 hours 20 hours 25 hours
Part time employees 1 4 hours
Maximum amount paid upon
separation from service 240 hours 270 hours 336 hours
Sick Leave
Full time employees 8 hours 9 hours 11 hours
Part time employees 0 hours
Unused sick leave will be paid to employees having ten consecutive years of service upon termination or retirement at varying percentages based on the total unused hours: 50% for the first 480 hours; 25% for the second 480 hours and 20% for all hours over 960.
Compensatory Time
Compensatory time is available only to hourly (non-exempt) employees. Most employees may accrue up to 240 hours except for law enforcement and correctional officers who can accrue up to 480 hours. Unused amounts will be paid upon termination or retirement.
Clerk of the Circuit Court
The policy of the Clerk of the Circuit Court for annual and sick leave is that full-time employees earn four hours of annual leave (five hours if employed five years or longer) and four hours of sick leave per biweekly pay period. The employee can accumulate a maximum of 240 hours of annual leave and an unlimited amount of sick leave. Annual leave earned in excess of 240 hours is credited to sick leave. Upon retirement or termination, the employee may be paid a maximum of 240 hours accumulated annual leave. Unused sick leave will be paid as follows upon termination (provided the employee has 160 hours accrued and 24 months of service).
Okaloosa County, Florida
NOTES TO FINANCIAL STATEMENTS Fiscal Year Ended September 30, 2014
55 NOTE 6 – COMPENSATED ABSENCES – CONTINUED
Clerk of the Circuit Court - Continued
2 years service - 20% of all sick leave accrued 5 years service - 25% of all sick leave accrued 10 years service - 30% of all sick leave accrued 15 years service - 40% of all sick leave accrued 20 years+ service - 50% of all sick leave accrued
Upon retirement from the Florida Retirement System with 30 years of service, of which the last 20 years of service must have been served with the Clerk’s office, employees will be paid for 100% of their accrued sick leave balance.
Sheriff
The Sheriff maintains a policy providing for annual vacation and sick leave pay for all full-time non-exempt employees. Employees are allowed to accumulate unlimited time; however, upon
separation the employee will receive compensation only for any unused annual leave up to a maximum of 240 hours. Annual vacation leave for full-time non-exempt employees is calculated as follows:
Years of Service Accrual Rate
Less than five (5) years (8) hours per calendar month Five (5) to ten (10) years (10) hours per calendar month Ten (10) and more years (12) hours per calendar month
Sick leave for non-exempt employees is accrued at eight hours per month. Unused accrued leave is carried over from year to year. Employees terminating after ten years of service are compensated for unused sick leave up to a maximum of 100 hours.
Vacation leave for exempt employees is accrued at 176 hours annually and sick leave for exempt employees is accrued at 104 hours annually.
An employee who meets eligibility requirements receives up to 12 weeks of leave, paid and /or unpaid in accordance with the federal Family Medical Leave Act of 1993 guidelines.
Tax Collector
The policy of the Tax Collector for Paid Time Off (PTO) is that employees are entitled to accrue leave each pay period based on an employee’s hire date. Below is a breakdown of how leave will be earned:
Okaloosa County, Florida
NOTES TO FINANCIAL STATEMENTS Fiscal Year Ended September 30, 2014
56
NOTE 6 – COMPENSATED ABSENCES – CONTINUED – CONTINUED
Tax Collector – Continued Years of Service
(based on hire date) Weeks PTO
# Hours Earned per Pay Period
1 year 3 weeks 4.62
2 - 5 years 4.4 weeks 6.77
6 - 10 years 5.4 weeks 8.31
11 - 15 years 6 weeks 9.23
16 - 20 years 6.5 weeks 10.00
21+ years 7 weeks 10.77
Upon separation of employment form the Tax Collector, the maximum unused hours paid at termination are based upon years of service. Maximum unused hours paid for employees with 1 – 10 years of service or in DROP are 500 hours for 10 plus years of service.
Property Appraiser
The Property Appraiser’s policy provides for “paid days off” (a combination of sick and annual leave) which may be used at the employee’s discretion. Paid days off accumulate ratably during each year of employment at the following rates based on years of employment.
1 to 5 years 192 hours per year
5 to 10 years 216 hours per year
Over 10 years 240 hours per year
Employees are allowed to accumulate up to 360 hours of paid days off for which they will be paid upon termination of employment. Paid days off accumulated in excess of 360 hours at the end of the calendar year are lost except for employees planning retirement. Employees planning retirement within the following year may increase the accrued paid days off to a maximum of 500 hours.
The total amounts of accumulated annual leave and other compensated absences for all elected officials as of September 30, 2014 follow:
Current Long-Term
Elected Official Portion Portion Totals
Board of County Commissioners $ 2,607,283 $ 2,022,251 $ 4,629,534 Clerk of the Circuit Court 274,308 603,470 877,778
Sheriff 870,580 1,305,870 2,176,450
Tax Collector 99,122 147,045 246,167
Property Appraiser 57,132 83,911 141,043
Supervisor of Elections 60,185 61,555 121,740
Totals $ 3,968,610 $ 4,224,102 $ 8,192,712
The total current and long-term portions of compensated absences are shown on the face of the government wide statement of net assets using the full accrual method of accounting.
Okaloosa County, Florida
NOTES TO FINANCIAL STATEMENTS Fiscal Year Ended September 30, 2014
57