HomeMy WebLinkAboutCity of Gulf Shores - Public Financial Report1
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3 About this Report
4 Mayor and Council
5 Just the Facts
6 Governmental Activities
7 Component Units
8 Operating Indicators by Function
9 Property Tax Collections and Distribution
10 Principle Property Taxpayers
11 Where does the money come from?
Where does the money go?
12 Revenues and Expenses
13 Fund Balances
14 Major Projects
15 5 Critical Actions of Focus for Vision 2025
16 Capital Assets
17 What do we owe?
Table of Contents
About this Report
The Popular Annual Financial Report (PAFR) of the City of Gulf Shores is displayed to translate between the gap of our financial reporting and the understanding of the general public through a user-friendly format. While reading this if you have any recommendations, concerns or thoughts, please reach out to us.
The PAFR summarizes and draws from information that can already be found in the Annual Financial Report. The City is in compliance with GAAP (Generally Accepted Accounting Principles) when preparing the Annual Financial Report and then it is independently audited by Grant, Sanders and Taylor, P.C (A local public accounting firm). Our PAFR however is not presented in GAAP format nor is it put through an audit process. The PAFR does not include all information on the City’s funds or the component units found within the Annual Financial Report. However we are confident to the best of our knowledge that the condensed financial information provided will give you insight into your city in regards to the financial position and results of operation for the fiscal year ending December 31, 2020.
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If you desire to view our Annual Financial Report it may be found online at https://www.gulfshoresal.gov/ArchiveCenter/ViewFile/Item/71
Mayor & Council
The City is a municipal corporation incorporated under the Constitution and laws of the State of Alabama. The City is governed by a Council consisting of a mayor and five council members elected for terms of four years. Members of the City Council serve part-time and are responsible for adopting ordinances, resolutions and setting the policies of the City, including the appropriation of money. The Mayor, who is a member of the City Council, is elected for a four-year term and is the chief administrative officer of the City.
Government Profile and More Facts
The Town of Gulf Shores was incorporated on February 12, 1957 and
became a city on April 18, 1985.
Gulf Shores is a world-class all-seasons resort area on the white sandy
beaches of the southern tip of Baldwin County, Alabama on the warm waters
of the Gulf of Mexico. The land area is 28.28 square miles and the water
area is 4.76 square miles. The average annual temperature is 69 degrees.
The daily operations of the City are run by the City Administrator responsible
to the Mayor and Council. The City’s municipal services include police and
fire protection, public works, recreation and cultural affairs, library, recreation
center, planning and zoning, building, economic development, municipal
court and general administrative services.
Top row left to right: Steve Jones, Joe Garris, Jason Dyken, Gary Sinak
Bottom row: Phillip Harris, Mayor Robert Craft
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Just the Facts
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Our Citizens and the Economy
•Residents 15,014 (1,452 Veterans)
•Median Household Income1 $50,306
•Persons in Poverty1 5.9%
•Per Capita Income $37,108
1U.S. Census Bureau Quick Facts All values in this section are up to 2019
Top Ten Employers in Gulf Shores
Employer Total
Employees
FT PT
1. The Hangout 735 35 700
2. City of Gulf Shores 345 291 54
3. Waterville 330 20 310
4. Lulus Landing, Inc 271 106 165
5. The Lodge at Gulf State Park 269 222 47
6. Wal-Mart 240 202 38
7. Gulf Shores Public Schools 237 225 12
8. Rouse’s Enterprises 185 185 0
9. Publix Alabama 155 65 90
10. Gulf State Park 115 115 0
Gulf Shores licensed 9,204 types of businesses in 2020
FT=Full Time
Total Employees –FT = Part Time
Education
•High School Graduates1 96.1%
•Bachelor’s Degree or Higher1 35.2%
1U.S. Census Bureau Quick Facts
Geographic Characteristics
•Land Area 28.28 SQ Miles
•Water Area 4.76 SQ Miles
•Avg. Annual Temperatures 69 Degrees
•Avg. Annual Rainfall 61.57 Inches
•Elevation 8 Feet
Governmental Activities
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Executive Human Resources Finance and
Administrative
Services
Building Planning and
Zoning
Municipal Court Police Fire Rescue Recreation and
Cultural Affairs
Public Works and
Engineering
Component Units
Gulf Shores City School System Jack Edwards Airport/Airport Authority
The financial reporting entity (the City)includes all the funds of the
primary government as well as the discretely presented component
units of the Gulf Shores City School System,the Jack Edwards
Airport,and Airport Authority.
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The PAFR does not include information on the component units,
unless referenced.
Operating Indicators by Function/Department
2016 2017 2018 2019 2020
Building Permits Issued 782 896 1,295 998 1,879
Building Inspections Conducted 3,098 3,914 6,246 7.602 5,783
Business Licenses Issued 7,974 8,392 8,555 8,658 8,741
Physical Arrests 2,048 1,879 1,831 970 994
Traffic Violations 2,029 2,058 2,124 1,539 1,021
Officers 47 47 50 50 51
Emergency Responses 3,146 3,149 3,297 3,090 3,335
Fires Extinguished 83 54 63 72 71
Inspections 1,975 1,950 1,650 2,110 1,160
Full Time Staff 44 46 48 55 56
Volunteer Firefighters 10 4 0 34 34
Street Resurfacing (linear feet)8,200 8,100 5,510 8,960 31,500
Sidewalks (linear feet)1,600 10,760 3,265 4,950 267
Bike Lanes (linear feet)780 2,800 40,800 11,800 19,200
General Government
Police
Fire
Engineering
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Property Tax Collections and Distribution
Fiscal
Year
Taxes
Levied for the Year
Taxable
Property Assessed
Valuation
Current
Collections
Subsequent
Collections
Total
Collections
Percent
Parcels Paid
2020 3,792,564 790,117,460 3,930,206 0 3,930,206 99.76%
2019 3,653,718 734,155,980 3,652,684 3,970 3,656,654 99.82%
2018 3,327,805 668,109,200 3,326,030 166 3,326,196 99.90%
2017 3,074,056 616,090,320 3,071,391 1,591 3,072,975 99.84%
2016 2,822,072 566,085,720 2,820,939 380 2,821,319 99.84%
2015 2,666,050 534,967,860 2,664,330 466 2,664,796 99.75%
2014 2,491,031 499,994,940 2,487,820 1,388 2,489,208 99.72%
2013 2,390,195 478,341,860 2,385,827 1,288 2,387,115 99.66%
2012 2,335,949 468,268,740 2,330,828 1,173 2,332,001 99.72%
2011 2,443,936 487,433,360 2,432,011 4,275 2,436,286 99.44%
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The total property tax mills collected is 33
The Pie Chart above shows the distribution by Governmental entity of total
mills collected and percentage.
Principal Property Taxpayers
Taxpayer Taxable Assessed Value Rank % of Total City Taxable
Assessed Value
100 Emerald Greens LLC UC Funds $9,095,560 1 1.24%
Mid America Apartments LP $7,166,000 2 0.98%
Baldwin Co Electric $6,004,820 3 0.82%
RCG-Gulf Shores LLC $5,065,660 4 0.69%
Villas at Bon Secour $3,675,580 5 0.50%
21300 Sweetwater LLC $3,621,660 6 0.49%
Howard Resort Inns INC $2,975,520 7 0.41%
Walmart Real Estate Business Trust $2,802,980 8 0.38%
Beach Place Development LLC $2,490,000 9 0.34%
Waterville USA Inc $2,480,860 10 0.34%
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General Fund RevenueSources
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Departmental Budget Performance
Property, sales, lodging, and business license taxes comprise 83%
of all revenue collections. The largest collection is sales tax.
By careful management of resources the city’s
departments almost always operate within their budgets.
Transfers represents amounts going to debt service
payments.
8%
73%
10%
1%
3%2%
1%
2%
Governmental Revenue Sources for
Fiscal Year 2020
Local Taxes 34,323,959
Licenses & Permits 4,538,687
Fines & Forfeitures 384,382
Utility Tax Equivalents 1,442,306
Intergovernmental 856,532
Interest Income 288,018
Other Receipts 1,193,082
Total $46,834,104
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Transfers
Capital Outlay
Outside Agencies
Public Works
Community & Economic…
Fire & EMS
Municipal Court
Police
Executive
Millions
General Fund Departmental Budget to Actual 2020
Actual
Budget
Revenues& Expenses
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Expenses in excess of revenues reflects borrowing for bond issuances,
however fund balances have continued to increase since 2010.The total
amount borrowed reflects as an expense in the year that it is borrowed and
the repayment will occur over a period of years.
The chart above shows 10 years of revenues vs. expenses and the chart on
the left shows 3 year trends for our major revenues
Fund Balances
General Fund In 2020
Revenues = $42,859,907
Expenditures = $34,742,533
Can make a new one for 2019 to compare
year over year with pie charts. Or can include
one for the different Warrant Fund and
Other Governmental Funds and have both
for 2019.
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The City’s balance sheet reflects the City’s financial condition as of January 1, 2021.
The balance sheet is a summary of what the City owns (assets and deferred outflows) and owes (liabilities and deferred inflows).
The chart on the right shows 10 years of General Fund balances.
Major Projects
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Traffic Signals and Pedestrian Improvements
$5.8 million
Trail Widening & Resurfacing
$500,000
Roadway and Pedestrian Infrastructure
$1.6 million
Ft. Morgan Trail
Hwy 182 Ped & Signal Improvements
Coastal Gateway Boulevard
West Lagoon Ave
Adoption of the Major Street Plan
Planning & Design
$93,000
Roadway and Pedestrian Infrastructure
$10.8 million
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MEDICAL –In 2020,the City announced and broke
ground on a new regional healthcare facility to be built
to serve the Alabama Gulf Coast.The development of
this new facility will be the culmination of an ongoing
regional cooperative effort.
EDUCATION –In 2020, Gulf Shores City Schools
started the second year as the first independent city
school system in Baldwin County. The City secured $17
million borrowed funds for renovations and
improvements to the school campuses to enhance
safety, security, vehicle and pedestrian circulation, and
the overall learning environment.
WATERWAY DISTRICT –In 2020,the Gulf Shores
Airport Authority broke ground on air traffic control tower
and commercial flight terminal at Jack Edwards National
Airport to further efforts to establish regional commercial
flights to and from Gulf Shores.
Five Critical Actions of Focus for Vision 2025 (5 year plan)
GULF STATE PARK –The State of Alabama completed
construction of a 350 room Hilton-branded lodge,180
seat restaurant and 40,000 square foot conference
facility that opened fall 2018.Over 9 miles of new
pedestrian-and bike-friendly trails are currently being
completed within Gulf State Park.
GULF BEACH DISTRICT –In 2020,the City completed
new,safer pedestrian and bicycle pathways from West
Lagoon Avenue to Little Lagoon Park.
More information on the City’s 5 year Strategic Plan is available starting on page 28 of the 2021 Budget and is
available on the City website at https://www.gulfshoresal.gov/ArchiveCenter/ViewFile/Item/70.
Capital Assets
At December 31, 2020, the City of Gulf Shores reported net capital position
of $107,976,449 from governmental activities, an increase of $4,692,730
from the adjusted governmental activities capital assets net for December
31, 2019. Net capital position from business-type activities is reported as
$2,076,397 which is an increase of $104,550 from December 31, 2019.16
Debt & Debt Repayment
As of year-end,the City had $108,999,693 in debt outstanding which
includes long term compensated absences of $1,912,310 compared
to $91,213,984 for the prior year.All debt service payments were
made timely.The City’s outstanding debt is rated Aa2 by Moody’s
and AA+by S&P.The City is able to save money by borrowing at
lower rates due to high quality ratings.
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Warrant Final Payment Moody’s S&P
2006-B G.O.12/15/2025 Aa2 AA+/Stable
2008-A G.O.12/15/2028 Aa2 AA+/Stable
2012-D G.O.12/15/2021 Aa2 AA+/Stable
2017-A G.O.12/15/2027 Aa2 AA+/Stable
2018-A G.O.12/15/2038 Aa2 AA+/Stable
2018-B G.O.12/15/2033 Aa2 AA+/Stable