2016 CAFR

200 Pages·2017·2.34 MB·English

C
OMPREHENSIVE
A F R
NNUAL INANCIAL EPORT
F Y E S 30, 2016
ISCAL EAR NDED EPTEMBER
C S . A , F
ITY OF T UGUSTINE LORIDA
Until 1898 St. Augustine did not have a municipal water system. Historically shallow
wells were used and eventually a private utility was formed in 1887. A rising awareness
of health and fire safety needs along with the increasing demand from the developing
tourism market influenced city officials to develop a municipal water system. By this time
Henry Flagler was operating three large hotels, a railroad company, and a residential
development in the city and so he advocated for improved city infrastructure. To this
end, he conveyed a large parcel of land north of town to the city which would became
the pumping station for the city waterworks in 1898. Just thirty years later, a new water
facility was built on King Street and the original building was converted to a community
center in 1928 – that property would be renamed Davenport Park.

The original brick pumping station
is currently undergoing major
restoration sponsored in part by
the Department of State, Division of
Historical Resources and the State
of Florida. Two separate grants
from 2014 and 2015 have kicked
off this significant preservation
project which will result in a
stable and restored building
envelope. One of the adaptive use
strategies being studied is a multi-
use facility for archaeological
and preservation research and
education in tandem with a small
concession that could serve the
park and adjacent neighborhoods.
The building has been closed since
2005 and this preservation project
represents a team effort of all City
of St. Augustine departments.
City of St. Augustine, Florida

Comprehensive Annual Financial Report
Fiscal Year Ended September 30, 2016

Prepared By:
Financial Services Department

Mark R. Litzinger L. Carl LaFleur, CPA Lyudmila Hodges
Director Deputy Director Financial Analyst
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CITY OF ST. AUGUSTINE, FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Year Ended September 30, 2016

TABLE OF CONTENTS

Table of Contents…………………………………………………............................ i -iii

INTRODUCTORY SECTION

Letter of Transmittal………………………………………………............................ 1-15

Certificate of Achievement………………………………………………………….. 16

Principal City Officials……………………………………………………………… 19

Organizational Chart………………………………………………………………… 23

FINANCIAL SECTION

Independent Auditors' Report……………………………………………………….. 29

Management Discussion and Analysis……………………………............................ 33-53

Basic Financial Statements
Government-wide Financial Statements
Statement of Net Position……………………………………………………. 57
Statement of Activities………………………………………………………. 58-59

Fund Financial Statements
Balance Sheet – Governmental Funds……………………............................. 60-61
Reconciliation of the Balance Sheet – Governmental Funds to the Statement
of Net Position…………………...................................................... 62
Statement of Revenues, Expenditures and Changes in Fund Balances –
Governmental Funds………………………………………………… 64-65
Reconciliation of Statement of Revenues, Expenditures and Changes in
Fund Balances of Governmental Funds to the Statement of Activities 66
Statement of Revenues, Expenditures and Changes in Fund Balances – 44
General Fund - Budget and Actual…………………………...…… 68
Statement of Revenues, Expenditures and Changes in Fund Balances –
Special Revenue Fund HACRA - Budget and Actual……….....…… 69
Statement of Revenues, Expenditures and Changes in Fund Balances –
Special Revenue Fund LCRA - Budget and Actual………….....…… 70
Statement of Net Position – Proprietary Funds…………………………….. 72-75
Statement of Revenues, Expenses and Changes in Fund Net Position –
Proprietary Funds……………………………………………………. 76-77
Statement of Cash Flows – Proprietary Funds………………………………. 78-81
Statement of Net Position – Fiduciary Funds………………………………. 82
Statement of Changes in Fiduciary Net Position - Fiduciary Funds………….. 83
(continued)
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(continued)

FINANCIAL SECTION (continued)

Notes to the Financial Statements………………………………………………. 84-122

Required Supplementary Information
Changes in Pension Liability...............…………………………………………. 125
Schedule of Employer Contributions................................................................... 126

Note to the Schedule of Funding Progress and Schedule of Employer and
Other Contributions for all Pension Plans…………………………………… 127
Schedule of OPEB Funding Progress…………………………………………… 128
Schedule of OPEB Contributions from Employer and Other Contributing
Entities……………………………………………………………………….. 129
Combining Statements
Combining Statement of Fiduciary Net Position – Fiduciary Funds…………….. 133
Combining Statement of Changes in Fiduciary Net Position – Fiduciary Funds… 134
Schedule of Expenditures of Federal Awards and State Financial Assistance…….…. 137

STATISTICAL SECTION
Table of Contents…………………………………………………………………….. 141
Net Position by Component…………………………..………………………..…….. 142-143
Change in Net Position……………………….………………………………..…….. 144-145
Fund Balances, Governmental Funds...……………………………….……………… 146-147
Changes in Fund Balances, Governmental Funds…..………………….…………….. 148-149
Total Assessed Valuations and Total Exemptions………………………….………... 150-151
Property Tax Rates and Tax Levies, Direct and Overlapping ………………….……. 152
Principal Taxpayers………………..………………………………………….……… 153
Property Tax Levies and Collections………………………………………….……... 154
Ratio of Net General Bonded Debt to Assessed Value and Net
Bonded Debt Per Capita……………………………………………….……….. 155
Ratio of Annual Debt Service Expenditures for General Bonded
Debt to Total General Expenditures....………………………………….……… 156
Utility Revenue Bond Coverage …………………………………………………..… 157
Ratios of Outstanding Debt by Type...…………….………………………………… 158
Direct and Overlapping Governmental Activities Debt……………………………… 159-160
Computation of Legal Debt Margin…………………………………………………. 161
Summary of Pledged Funds…...……………………………………………….…….. 162
Demographic Statistics………………………………………………………………. 163
Major Employers in the St. Augustine Area…………………………………….…… 164
Summary of Ten Largest Water Customers …………………………………….…… 165
Historical Utility Customers and Sales of the System …………………………..…… 166-167
Water and Wastewater Treatment Plants Summary of Historical Daily Flows………. 168
Water and Sewer Utilities Historical Rate Structures ………………….……………. 169
Building Permit Activity…………………………..…………………….…………… 170
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(continued)

COMPLIANCE SECTION

Property Value, Contruction, and Bank Deposits ……………………………...……. 171
Miscellaneous Statistical Data…………………………………………………..…… 172-173
Full-Time Equivalent City Employees by Function ..………………………………… 174
Operating Indicators by Function………………. ………………………..…………. 175
Capital Asset Statistics by Function…...………………………………...…………… 176
Independent Auditors’ Report on Compliance and Internal Control Over
Financial Reporting and on Compliance and Other Matters Based on Audit of Basic
Financial Statements Performed in Accordance with Government
Auditing Standards………………………………………………………….….. 179-180
Independent Accountants’ Report on Compliance with Section 218.415, Florida Statutes 181
Management Letter…………………...……………………………………………... 183-186

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