HomeMy WebLinkAboutOkaloosa County - Public Financial ReportON THE HORIZON
OKALOOSA COUNTY CLERK OF COURT
POPULAR ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDING
SEPTEMBER 30, 2021
TABLE OF CONTENTS
2
MESSAGE FROM THE CLERK 3
MESSAGE FROM THE CLERK 3
ABOUT THIS REPORT 4
COUNTY GOVERNMENT 5
DEMOGRAPHICS 9
MESSAGE FROM THE COUNTY ADMINISTRATOR 13
ABOUT THE CLERK 14
INSPECTOR GENERAL 16
TOURIST DEVELOPMENT TAX 17
FINANCIAL STATEMENTS 18
3
MESSAGE FROM THE CLERK
To the Residents of Okaloosa County:
I am excited to present to you the County’s Popular Annual Financial Re-
port (PAFR) for the fiscal year ending September 30, 2021. The PAFR is
an award-winning report on the status of Okaloosa County finances. It is
designed to provide an easily understood summary and analysis of where
County revenues come from and how those resources were managed and
spent over the past fiscal year.
It is my responsibility as Clerk of the Circuit Court and County Comptroller
to safeguard our County’s funds and public records. In this role I serve as the official watchdog of
County funds and resources, providing checks and balances on the County’s budget, revenue, assets,
and spending. I stand with your elected County constitutional officers and County commissioners in
providing strong fiscal oversight of our County’s resources. We are committed to providing excellent
local government services in the most cost-effective and efficient manner possible.
Most of the information in this report is derived from Okaloosa County’s Annual Comprehensive Finan-
cial Report. Awarded the Certificate of Achievement for Excellence in Financial Reporting from the Gov-
ernment Finance Officers Association, the Annual Comprehensive Financial Report contains detailed
audited financial information. Since the information in the PAFR is summarized and does not provide
financial information for all funds at the fund level, please refer to the Annual Comprehensive Financial
Report for more in-depth and audited County financial information. Both reports are available on our
website and can be accessed at www.okaloosaclerk.com/finance-accounting.
I hope you find this report to be informative. It is my honor and privilege to serve you as your Clerk and
Comptroller. I am especially proud to serve with all the dedicated public servants in our County offices
each day to enhance the quality of life here in Okaloosa County!
/s/
J.D. Peacock II, CPM
Okaloosa County Clerk of the Circuit Court and Comptroller
ABOUT THIS REPORT
Most of the information contained in this report is derived from Okaloosa County’s ACFR. The ACFR
contains detailed and audited financial information. Information in the Okaloosa County’s Popular An-
nual Financial Report is summarized and thus does not provide financial information for all funds nor
conform to GAAP reporting requirements for government agencies. This report is designed to give
non-financial readers information in an understandable way. For a more in-depth and audited review
of financial statements please view the Okaloosa County ACFR available at www.okaloosaclerk.com.
5
COUNTY GOVERNMENT
Constitutional Officers
Citizens of Okaloosa County
JD Peacock
Clerk of Circuit Court
Eric Aden
Sheriff
Mack Busbee
Property Appraiser
Paul Lux
Supervisor of Elections
Ben Anderson
Tax Collector
State of Florida
Board of County
Commissioners
Clerk of the
Circuit Court Sheriff Property
Appraiser Tax Collector Supervisor of
Elections
Okaloosa County
6
BOARD OF COUNTY COMMISSIONERS
Nathan Boyles
District 3
Paul MIxon
District 1
Mel Ponder
District 5
Trey Goodwin
District 4
Carolyn Ketchel
District 2
7
OKALOOSA COUNTY
Okaloosa County became the 52nd county in Florida in 1915, created from parts of Santa Rosa and
Walton Counties. Okaloosa County Government was created to be responsive to citizens in providing
an appropriate level of accessible services on a cost effective basis.
Critical County values include the following: continual improvement of
infrastructure, health, safety, and well-being of the citizens, preservation
of natural resources, responsible economic development, leadership,
and stewardship.
8
LOCAL MUNICIPALITIES
The Town of Cinco Bayou
Cinco Bayou was founded in July of 1950. During the 1950s, the town became a residential community
supporting the increased activities at Eglin Air Force Base and the expanding commercial and tourist
enterprises of the Fort Walton Beach area. The town currently has a population of 438 residents.
The City of Crestview
The city of Crestview is the county seat of Okaloosa County. It is now known as the “Hub City”, because of the
convergence of Interstate 10, State Road 85, U.S. Highway 90, and the Florida Gulf and Atlantic Railroad.
The City of Destin
Destin is known for its white beaches and emerald green waters. Originating as a small fishing village, it is now
a popular tourist destination. It is known as “The World’s Luckiest Fishing Village” and claims to have the largest fishing vessel fleet in the state of Florida.
The City of Fort Walton Beach
Originally known as Camp Walton during the American Civil War, Fort Walton Beach eventually evolved into a resort and yachting center. In 1937, it became a municipality and was renamed Fort Walton.In 1953, it was renamed the City of Fort Walton Beach in an effort to highlight it as a growing tourist destination.
The City of Mary Esther
The City of Mary Esther is noted as one of the first areas settled in this part of Northwest Florida. It was named after the two daughters of John Newton, a teacher and minister who was one of the first settlers of the area.
The Town of Shalimar
Shalimar began as a community to house military officers in the mid 1940’s. It was incorporated in June of 1947 in response to a state law that prohibited clubs in unincorporated areas from staying open from midnight
Saturday until Monday morning. The opening of the Shalimar Club became known as “the social event of
1947”.
The City of Valparaiso
Valparaiso was created in 1921 by a Chicago businessman named John B. Perrine. The name is translated
from Spanish to mean Vale of Paradise. The city is interlaced with Eglin Air Force Base with over 500 residents residing on the base itself.
The City of Niceville
Located on Boggy Bayou, which opens into Choctawhatchee Bay, Niceville Florida was originally called Boggy, Florida. It was part of Walton County until Okaloosa County was formed in 1915.
The City of Laurel Hill
In the 1880s, railroad access to NW Florida opened up a booming lumber industry, with the Yellow River Railroad reaching the Almirante (Laurel Hill) area by 1892.
9
DEMOGRAPHICS
Unemployment
Unemployment in Okaloosa County was 3.53% in 2021 3.53%
Income
The median household income for Okaloosa County was
$63,412 in 2021 $63,412
Housing
Single family homes were purchased at a median sale price
of $300,000 in 2021 $300,000
Education
The Okaloosa County School District serves 27,000 students
from pre-kindergarten to adult education
County Budget
The County Budget for Fiscal Year 2021 was $445,144,280 $445M
Median Age
The median age of residents in Okaloosa County is 36.9
years old 36.9
$
27,000
10
Top Public And Private Sector Employers
COMPANY NUMBER EMPLOYED
Hurlburt Air Force Base (Active Duty)8,261
Okaloosa County School District 3,294
HCA Florida Fort Walton Beach-Destin Hospital 1,341
Publix 1,092
Okaloosa County BCC 955
Lockheed Martin Corporation 925
Reliance Test & Technology 721
Northwest Florida State College 717
United States Department of Army 705
North Okaloosa Medical Center 609
Population
187,280187,280187,280 188,349188,349188,349 190,666190,666190,666 191,898191,898191,898 192,925192,925192,925 195,488195,488195,488 198,152198,152198,152
210,738210,738210,738 203,951203,951203,951 211,668211,668211,668
0
50k
100k
150k
200k
250k
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
11
Hurlburt Field
Hurlburt Field occupies approximately 6,000 acres
in Okaloosa County and is the headquarters of the
Air Force Special Operations Command. Hurlburt
is also known to be the base with the most de-
ployed personnel.
Eglin Air Force Base
Eglin Air Force Base is the world’s largest Air
Force installation and is the headquarters of the
Air Force Special Operations Command (AFSOC).
Eglin is responsible for the development, acquisi-
tion, testing, deployment and sustainment of all
air-delivered non-nuclear weapons.
Duke Field
Also known as Eglin AFB Auxiliary Field #3, Duke
Field is a military airfield located south of Crest-
view, Florida. Duke Field is primarily an Air Force
Reserve Command (AFRC) installation and home
to the 919th Special Operations Wing.
MILITARY PRESENCE
Military activity in Okaloosa County has long been a major contributor to the local economy. The three
military installations located in the County generate additional employment by attracting defense con-
tracting firms to the area. Okaloosa County is home to the largest military installation in the Department
of Defense; Eglin Air Force Base. The defense-related spending in the County creates employment and
investments and continues to multiply as it circulates throughout the region’s economy.
12
Okaloosa County is well known for the long
stretches of white sandy beaches. Visitors come
year round to enjoy the emerald blue waters and
to participate in world class fishing and boating.
Kayaking, canoeing, and paddle boarding are
great ways to explore the calm, still waters of
Choctawhatchee Bay or the gentle Gulf of Mexico
waves.
TOURISM INDUSTRY
Tourism is the leading private income producing source for Okaloosa County. Visitor
spending exceeds $2.9 billion annually with total employment of over 44,000 in tour-
ism-related businesses, comprising 32% of County employment. Business spend re-
lated to tourism totals $3.6 billion dollars. The Tourism industry generates nearly $570
million in tax revenues per year, offsetting the cost of services to locals. Tourists may
visit Welcome Centers on Okaloosa Island or at the Destin-Fort Walton Beach Airport
for information on lodging, local activities, area information, sightseeing and all other things to do
during their visit. Approximately 7.5 million visitors are estimated to come to our area annually.
Beaches are made up of finely ground, perfectly round quartz crystals carried from the Appalachian
Mountains that squeak beneath your bare feet with every step. Destin Harbor is home to the nation’s
largest charter fishing fleet and is the epicenter of the local commercial and recreational fishing com-
munity. The harbor offers excursions, Gulf-to-Table seafood, live music, unique shops, evening fire-
works, and much more. Destin Commons is a large open-air mall with a variety of dining options,
family-friendly events, a movie theater, and national brands alongside unique styles found only here.
Fort Walton Beach offers a walkable downtown perfect for an evening stroll through the Landing Park,
Indian Temple Mound archeological site, shops, and restaurants and bars. Seven industrial parks have
been developed with a total of over 1,100 acres available.
The Destin-Fort Walton Beach Airport (VPS), along with the General Aviation Airports in Destin at the
Destin Executive Airport (DTS) and in Crestview at the Bob Sikes Airport (CEW), continued to enhance
all facets of aviation activity with significant growth throughout the year. Recent FDOT economic im-
pact studies detail over $2B in economic impact generated annually from Okaloosa County’s three
airport systems.
13
MESSAGE FROM THE COUNTY ADMINISTRATOR
Emerging from a difficult year for the world, our nation and Okaloosa County, our employ-
ees have served our community, in 2021, with dedication and determination throughout
this pandemic. From our Emergency Medical Service staff who have been at the forefront
of our response, to Growth Management who helped steer vulnerable residents towards
assistance, to our grants and financial staff who managed millions in stimulus funds – our
employees have risen to the occasion.
We have built upon the successful application of federal stimulus funds the County re-
ceived over the past year, specifically $36.8 million received through the Coronavirus Aid,
Relief, and Economic Security (CARES) Act and $889,775 from the Coronavirus Relief Fund (CRF) that provided 125 house-
holds with rental assistance and home repairs. These funds have been used to support public health programs, assist small
businesses, and help those most impacted by the pandemic and those who are most vulnerable in our community.
The Half-cent Sales Tax Fund is estimated at $41,903,711 which represents an increase of $20,999,571 or 100% in FY22.
Sales Tax revenue is estimated at $19,378,400 in the coming year and we will also carry forward $35 million of unused
funds. Revenue in this fund has exceeded expectations and we will be bringing more projects to the Infrastructure Surtax
Board for review and approval earlier than anticipated. We have 23 infrastructure surtax projects in the planning phases,
including the Northwestern Crestview bypass. As planning for the Women Veteran Monuments commenced in FY 21, the
installation and grand opening would come to fruition at Veterans Park on Veteran’s Day 2021. Among other projects, we
will begin construction of a brand-new South Okaloosa County Agriculture Extension Facility.
Okaloosa County was heavily impacted by the COVID-19 pandemic but saw a rebound, breaking records in revenue and
occupancy in 2021. After much collaboration with 9 municipalities regarding a proposed countywide tourism development
district expansion referendum, an interlocal agreement was approved. Eligible voters were presented with the opportunity
to vote on the countywide expansion of the tourism development district and on October 5, 2021, we found that each of the
eligible precincts across the County had approved the expansion.
Okaloosa County’s three airports have another significant impact on the local economy. Destin-Fort Walton Beach Airport
(VPS) is a joint-use facility established on Eglin Air Force Base in 1957. This valuable relationship with Eglin assists our
military with convenient, affordable air travel, thereby benefiting residents as well. With the recent addition of Southwest
Airlines, the airport flies direct to more than 50 cities. The Bob Sikes Airport in Crestview and the Destin Executive Airport
are equally diverse, with Crestview rising as a hub of industry, accommodating aerospace industrial applications from
across the globe. Bob Sikes Airport recently welcomed the Hsu Foundation’s Aviation Center for Excellence supporting
the next generation of STEM education innovators. Looking forward, we welcome Destin-Fort Walton Beach Airport (VPS)
expansions to include concourse projects, baggage claims and lobby expansions which will positively impact the ease of
access and further stimulate economic growth. The innovative design, future growth enhancements and overall technology
of these facilities and projects are setting a new standard for economic excellence.
The five elected Okaloosa County Commissioners are dedicated to connecting our communities and providing essential
services, public safety, and quality of life for the County’s 211,668 citizens and future generations.
- John Hofstad
14
ABOUT THE CLERK
THE CLERK OF CIRCUIT COURT AND COMPTROLLER IS THE ELECTED PUBLIC TRUSTEE PROVIDING CHECKS
AND BALANCES FOR THE COUNTY.
CLERK OF THE COURT
The Clerk serves the courts of Okaloosa County through activities such as; attending hearings and
trials, processing all civil and criminal cases, jury management, maintaining custody of evidence, and
assisting with petitions for protective injunctions.
36,018 NEW CASES FILED | 253,959 E-FILED DOCUMENTS PROCESSED | 18,875 JURORS SUMMONED
RECORDER OF THE DEEDS
The Clerk of Court is responsible for safeguarding all official documents for the County. Documents
such as mortgages, marriage licenses, judgments and liens are electronically stored and preserved by
the Clerk.
3,492 MARRIAGE LICENSES | 527 PASSPORT APPLICATIONS| 97,982 OFFICIAL DOCUMENTS PROCESSED
15
CHIEF FINANCIAL OFFICER, TREASURER & AUDITOR
As the Chief Financial Officer for the County, the Clerk serves as Accountant to the Board of County
Commissioners and as Auditor and Custodian of County Funds. The Clerk is required to keep records
and make required reports of all monies received and disbursed by the Board. The Clerk is also respon-
sible for the collection, custody and disbursement of County funds.
$89,329,898 COURT AND LEGAL RECORDS FEES, FINES AND ASSESSMENTS COLLECTED & DISBURSED
CLERK TO THE BOARD OF COUNTY COMMISSIONERS
The Clerk is responsible for maintaining custody of all County resolutions, ordinances, and contracts
as well as legal custody of the Official County Seal. The Clerk attends meetings of the Board of County
Commissioners and processes appeals for the Value Adjustment Board.
$229,241,942 AUDITED AND PAID COUNTY BILLS
OTHER DUTIES
On top of the duties listed above, the Clerk provides a myriad of other services and benefits to the com-
munity. Your Okaloosa County Clerk of Court is committed to providing outstanding customer service
in both Fort Walton Beach and Crestview locations as well as top-notch phone support. The Clerk con-
tinues to seek ways to make processes more efficient and less costly for the County and its taxpayers.
77,136 PHONE CALLS ANSWERED | 36,553 WALK-IN CUSTOMERS SERVED
16
INSPECTOR GENERAL
Upon election, Clerk Peacock initiated a plan to create the Department of Inspector General. Clerk Pea-
cock recognized and campaigned on the importance of government accountability through statutory
and regulatory compliance, establishment of effective policies, procedures and transparency. The Clerk
envisioned an accredited office that would be well funded and staffed by highly trained and experienced
members. Established in January of 2015, the Department of Inspector General has initiated numerous
audits and investigations.
MISSION:
The mission of the Inspector General is to improve the efficiency and effectiveness of government op-
erations by providing independent, objective investigative and audit services to the citizens of Okaloosa
County.
The Department’s goal is to preserve public trust in government. The department strives to achieve this
goal by maintaining the highest standards of professionalism.
The Department of Inspector General is committed to prevention and detection or misuse of County
resources as well as ensuring an effective system of internal controls.
The Department of Inspector General has established three methods for individuals to report potential
fraud, waste or abuse of County or Clerk resources.
REPORTING METHODS
Anonymous Tip Line: (850) 683-TIPS (8477)
Inspector General 101 East James Lee Blvd, Crestview, FL 32536
Online Survey: www.okaloosaclerk.com
17
TOURIST DEVELOPMENT TAX
What is a Tourism Development Tax?
The Tourist Development Tax is a lodging tax paid by visitors staying overnight in short-term rentals in
Okaloosa County.
Why is tourism important for Okaloosa County?
Tourism impacts the local economy in many ways; by creating jobs, contributing to sales tax, infra-
structure surtax, contributing to small business revenue, and in our countywide tourist development
district, they also fund tourism-related amenities, activities, environmental improvements, protection,
restoration and preservation.
The Tourist Development Department is required to promote the area and meet the following objec-
tives -
➢Promote tourism sales and increase overall visitation through marketing and
advertising of our beautiful area to the outside world, generating a maximum return on
investment for the local economy.
➢Operation of Visitor Welcome Centers, Convention Center, and Film Commission.
➢Beach safety and funding of the Beach Safety Life Saving Program.
➢Research and evaluation of the success of all programs and local economy.
➢Protection and improvements to the natural environment through funding of the
artificial reef program, public beach access parks, beach trash removal, beach
restoration improvements, Sea Turtle Conservation.
➢Ensure compliance with state statutes and local ordinances.
On September 21, 2021, the Okaloosa Board of County Commissioners voted to transfer the responsi-
bilities of Tourist Tax collection, enforcement, and audit from the Florida Department of Revenue to the
Okaloosa County Clerk of Circuit Court & Comptroller.
On October 5, 2021, the voters in Okaloosa County voted to expand the district to a county-wide tour-
ism development district. The original district collects a 5% tax from lodging and includes the cities
of Destin, Fort Walton Beach, Okaloosa Island, Mary Esther and Cinco Bayou. The previously created
“sub-district” will continue to collect and remit 5%. The remainder of Okaloosa County (recently expand-
ed) “Expansion Area” will collect and remit at the rate of 4%. The Tourist Development Tax generated
over $33 million in revenue for FY2021.
18
FINANCIAL STATEMENTS
STATEMENT OF NET POSITION
The statement of net position presents information on all of the County’s assets and liabilities, with the difference be-
tween the two reported as net position. Over time, increases or decreases in net position may serve as a useful indicator
of whether the financial position of the County is improving or deteriorating.
FY 2021 FY 2020
INCREASE (DECREASE) FY2021 v. FY2020
PERCENT CHANGE FY2021 v. FY2020
Assets (in millions):
Current and Other Assets 357.4 287.7 69.7 24.2%
Capital Assets (Net)640.0 600.1 39.9 6.2%
Total Assets 997.5 887.8 109.7 12.4%
Total Deferred Outflows of Resources 29.0 44.8 -0.0%
Liabilities:
Current Liabilities 73.2 43.1 30.1 69.8%
Non-Current Liabilities 203.1 321.1 (118.0)-36.7%
Total Liabilities 276.3 364.2 (87.9)-24.1%
Total Deferred Inflows of Resources 83.1 9.9 (73.2)-88.1%
Net Position:
Net Investment in Capital Assets 514.8 468.4 46.4 9.9%
Restricted 147.8 119.3 28.5 23.9%
Unrestricted 4.3 (18.8)23.1 -122.6%
Total Net Position 666.9 568.9 98.0 17.2%
% of Capital Assets to Total Net Position 77.2%82.3%
% of Restricted Assets to Total Net Position 22.2%21.0%
Unrestricted Net Position by Activity
Governmental (50.5)(69.5)
Businesses-Type 54.8 50.7
19
STATEMENT OF ACTIVITIES
The statement of activities presents information showing how the government’s net position changed during the most
recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change
occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for
some items that will result in cash flows in future fiscal periods.
FY 2021 FY 2020
INCREASE (DECREASE) FY2021 v. FY2020
PERCENT CHANGE FY2021 v. FY2020
REVENUES (in millions)
Program Revenues:
Charges for Services 132.1 117.9 14.2 12.0%
Operating Grants/Contributions 37.4 24.6 12.8 52.2%
Capital Grants/Contributions 32.8 27.6 5.2 18.8%
General Revenues:
Taxes 137.7 114.8 22.9 20.0%
State Shared Revenue 32.1 27.3 4.8 17.5%
Other 3.2 5.4 (2.2)-40.5%
Total Revenues 375.3 317.6 57.7 18.2%
EXPENSES
General Government 40.0 43.5 (3.5)-8.2%
Public Safety 93.6 81.4 12.2 14.9%
Physical Environment 2.3 2.2 0.1 4.7%
Transportation 20.1 25.7 (5.6)-21.6%
Economic Environment 19.0 10.8 8.2 76.3%
Human Services 5.9 6.4 (0.5)-7.9%
Culture & Recreation 15.1 20.7 (5.6)-27.0%
Court-Related 9.4 9.6 (0.2)-1.6%
Interest & Fiscal Charges 2.3 2.4 (0.1)-2.7%
Water & Sewer 31.1 30.3 0.8 2.7%
Airport 15.3 15.0 0.3 1.9%
Solid Waste 11.8 11.0 0.8 7.4%
Inspections 2.0 2.2 (0.2)-8.4%
Emergency Medical 9.3 11.6 (2.3)-20.2%
Total Expenses 277.3 272.8 4.5 1.6%
Increase in Net Position 98.1 44.8 53.3 118.9%
Net position - Beginning 568.8 524.0 44.8 8.5%
Net position - Ending 666.9 568.8 98.1 17.2%
2020
Mi
l
l
i
o
n
s
$29.4$29.4
$59.9$59.9
$-1.3$-1.3
$40.5$40.5
$52.0$52.0
$22.9$22.9
$53.6$53.6
$0.3$0.3
$32.3$32.3
$38.2$38.2
2021 2020
General TouristDevelopment Natural Disaster Capital Outlay Other
$0
$25
$50
$75
GOVERNMENTAL FUND BALANCE COMPARISON
The Tourist Development Special Revenue Fund is used to
account for the revenues and expenditures collected on
short-term rentals in Okaloosa County. The Tourist Develop-
ment Special Revenue Fund balance increased over the pri-
or year by $6,354. The increase in fund balance is primarily
due to tax revenues exceeding expenditures. This fund ex-
perienced significant revenue increases while maintaining
expenses in line from prior fiscal year.
The Natural Disaster Fund is typically used to account for
disaster funding and expenditures not considered normal
recurring operating activity of the County. In 2021, the Nat-
ural Disaster Fund was also used to account for the gov-
ernmental activities portion of the federal funds collected
and disbursed pursuant to the Coronavirus Aid, Relief and
Economic Security Act (the CARES Act). The fund balance
decreased over the prior year by $1,564 due primarily to the
costs and related funding in response to the COVID-19 pan-
demic and denied FEMA claims related to natural disasters.
The Road and Bridge Construction Capital Projects Fund
is the construction fund that is used to account for major
governmental capital improvements. The fund balance in-
creased over the prior year by $8,183 due primarily to an
$8,000 contribution from the City of Crestview for the con-
struction of the southwest Crestview bypass.
GENERAL FUND
The General Fund is the chief operating fund of
the County. At September 30, 2021, total fund
balance in the General Fund was $29.4 million of
which $25.6 million was unassigned. The Gener-
al Fund expenditures for the fiscal year exceed-
ed revenues by $13.4 million. The increase in the
current fiscal year fund balance was mainly due
to increased revenues across all categories with
moderate expenditure growth.
Mi
l
l
i
o
n
s
$8.4$8.4 $7.0$7.0 $8.0$8.0 $10.0$10.0 $8.6$8.6 $7.6$7.6
$11.3$11.3
$13.4$13.4
$22.9$22.9
$29.4$29.4
$0
$10
$20
$30
201
2
201
3
201
4
201
5
201
6
201
7
201
8
201
9
202
0
202
1
2121
Ad Valorem Tax
55.1%
Ad Valorem Tax
55.1%
Tourist Development Tax
23.5%
Tourist Development Tax
23.5%
Communication Srvc Tax
1.0%
Communication Srvc Tax
1.0%
Local Business Tax
0.2%
Local Business Tax
0.2%
Local Option Fuel Tax
4.7%
Local Option Fuel Tax
4.7%
9th Cent Fuel Tax
0.9%
9th Cent Fuel Tax
0.9%
Infrastructure Tax
14.5%
Infrastructure Tax
14.5%
GOVERNMENTAL TAX REVENUE BY SOURCE FISCAL YEAR 2021 ($137,730,038)
Local governments in the state are able to collect
local government taxes, among other sources
of revenue, to fund certain governmental expen-
ditures. Pictured below are all of the Okaloosa
County local option taxes collected in Fiscal Year
2021.
FL Fixed Income Trust
11.4%
FL Fixed Income Trust
11.4%
FL SAFE Income Trust
1.6%
FL SAFE Income Trust
1.6%
LT Securities
11.9%
LT Securities
11.9%
Agency Funds Cash
3.7%
Agency Funds Cash
3.7%
Pooled Cash
5.0%
Pooled Cash
5.0%
Money Market
3.2%
Money Market
3.2%
FL County Investment Trust
14.0%
FL County Investment Trust
14.0%
State Pool
49.2%
State Pool
49.2%
OKALOOSA COUNTY CASH & INVESTMENT COMPOSITION SEPTEMBER 30, 2021
The Clerk manages the County’s Investment Port-
folio utilizing the objectives commonly found in
governmental investments and adopting the ac-
ronym of SLY (Safety, Liquidity and Yield) in that
order. The investments are allowed under Florida
State Statutes of 218.415, along with the Coun-
ty’s adopted investment policy authorized by Or-
dinances 2016-21, 2017-04 and 2018-02. As of
September 30, 2021, the County’s cash and in-
vestments were allocated as described in the
chart below.
2222
General Government
14.4%
General Government
14.4%
Emergency Medical
3.3%
Emergency Medical
3.3%
Inspections
0.7%
Inspections
0.7%
Solid Waste
4.3%
Solid Waste
4.3%
Airport
5.5%
Airport
5.5%
Water & Sewer
11.2%
Water & Sewer
11.2%
Interest & Fiscal Charges
0.9%
Interest & Fiscal Charges
0.9%
Court-Related
3.4%
Court-Related
3.4%
Curtlure & Recreation
5.4%
Curtlure & Recreation
5.4%
Human Services
2.1%
Human Services
2.1%
Economic Environment
6.9%
Economic Environment
6.9%
Transportation
7.3%
Transportation
7.3%
Physical Environment
0.8%
Physical Environment
0.8%
Public Safety
33.7%
Public Safety
33.7%
Local Business Tax
0.1%
Local Business Tax
0.1%
Charges for Services
35.2%
Charges for Services
35.2%
Communication Services Tax
0.4%
Communication Services Tax
0.4%
Operating Grants/Contributions
10.0%
Operating Grants/Contributions
10.0%
Capital Grants/Contributions
8.7%
Capital Grants/Contributions
8.7%
Ninth-Cent Voted Fuel Tax
0.3%
Ninth-Cent Voted Fuel Tax
0.3%
Ad Valorem Tax
20.2%
Ad Valorem Tax
20.2%
Tourist Development Tax
8.6%
Tourist Development Tax
8.6%
Local Option Fuel Tax
1.7%
Local Option Fuel Tax
1.7%
Miscellaneous Tax Revenue
1.6%
Miscellaneous Tax Revenue
1.6%
Infrastructure Surtax
5.3%
Infrastructure Surtax
5.3%
Local Government Sales Tax
5.9%
Local Government Sales Tax
5.9%
Gas Tax
1.0%
Gas Tax
1.0%
Investment Earnings
0.1%
Investment Earnings
0.1%
Miscellaneous
0.7%
Miscellaneous
0.7%
DISBURSEMENTS
WHERE THE MONEY GOES
REVENUES
WHERE THE MONEY COMES FROM
2323
PRINCIPAL TAXPAYERS
Principal Property Tax Payers Taxable Assessed Value Percentage of Total Taxable Assessed Value
Florida Power & Light $116,933,232 0.55%
Florida Gas Transmission $66,187,437 0.31%
Choctawhatchee Electric Co $38,997,764 0.18%
Lurin Real Estate Holdings VI $23,448,442 0.11%
Embarq Corp $16,413,335 0.08%
Fort Walton Beach Medical Center $15,262,976 0.07%
Uniti Fiber Holdings Inc $12,460,422 0.06%
JRW Investments LLC $9,223,481 0.04%
Gulf Coast Solar Center LLC $9,006,708 0.04%
AT&T Florida $8,672,942 0.04%
PROPERTY TAX LEVIES AND COLLECTIONS
Mi
l
l
i
o
n
s
$45.4$45.4 $44.7$44.7
$47.4$47.4
$51.5$51.5
$53.8$53.8 $56.1$56.1
$65.3$65.3
$69.4$69.4 $69.6$69.6
$78.7$78.7
$44.8$44.8 $44.1$44.1 $46.8$46.8
$49.7$49.7 $51.8$51.8 $54.1$54.1
$62.9$62.9
$66.9$66.9
$71.2$71.2
$75.8$75.8
TAX LEVIES COLLECTIONS
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
$0.0
$20.0
$40.0
$60.0
$80.0
$100.0
Fort Walton Beach
1940 Lewis Turner Blvd
Fort Walton Beach, FL 32547
(850) 651-7200
Crestview
101 E James Lee Blvd, Suite 108
Crestview, FL 32536
(850) 689-5000