Town of Ponce Inlet, Florida

Financial Analysis Year Ended September 30, 2012

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Overview of AFR Contents Introductory Section

• Summary of Town Officials Financial Section

• Auditors’ Report• Management’s Discussion and Analysis (MD&A)• Basic Financial Statements• RSI – OPEB disclosures• Combining (non-major funds) Statement• Budgetary Comparisons (non-major funds)

Compliance Section• “Yellow Book” GAGAS Report• Management Letter

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Independent Auditors’ Report• Unqualified Opinion (page 9)• Basic Financial Statements Inclusion

Net Position Net Activities Governmental Funds (Position and Results of

Operations) Major Funds Budgetary Comparisons Proprietary Funds (Net Position / Operations /

Cash Flows)• “In-relation to” sections covered by opinion

Combining Statements Budgetary Comparisons (non-major funds)

• Reference to GAGAS report inclusionBM&C

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Balance Sheet Growth (000’s)

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2012 2011 Change Percent Assets: Cash and investments 3,889$ 5,189$ (1,300)$ -25.05% Restricted cash 62 53 9 16.98% Receivables/other assets 536 573 (37) -6.46% Fixed assets/utility plant (net) 14,911 15,071 (160) -1.06%Total assets 19,398$ 20,886$ (1,488)$ -7.12%Liabilities: Current liabilities 1,036$ 1,055$ (19)$ -1.80% Long-term debt 5,078 5,372 (294) -5.47%Total liabilities 6,114 6,427 (313) -4.87%Net Assets: Invested capital assets (net) 9,833 9,699 134 1.38% Restricted 109 193 (84) -43.52% Unrestricted 3,342 4,567 (1,225) -26.82%Total net assets 13,284$ 14,459$ (1,175)$ -8.13%

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Governmental Fund Revenues

Property Taxes64%

Other Taxes11%

Charges for Services12%

Operating Grants2%

Capital Grants5%

Intergovernmental4%

Other Revenue2%

Revenues - By Source

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Governmental Fund Revenue

$0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

Revenue - By Year

20122011201020092008

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Governmental Fund Expenses

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Public Safety44%

General Government

37%

Physical Environment

6%

Transportation7%

Culture Recreation

3%

Interest3%

Expenses - By Function

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Governmental Fund Expenses

$0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

Expenses - By Year

20122011201020092008

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Unreserved Fund Equity-General Fund

050

100150200250300350

Number of Days Fund Balance Meets TotalExpenditures

133

288 298 285 278

20122011201020092008

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Business Activities (000’s)

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2012 2011 Change Percent Operating revenues

Water Utility 1,143$ 1,074$ 69$ 6.42%Sewer Utility 914 918 (4) -0.44%Refuse Utility 170 166 4 2.41%

Total operating revenue 2,227 2,158 69 3.20%Operating expenses

Water Utility 1,311 1,271 40 3.15%Sewer Utility 895 900 (5) -0.56%Refuse Utility 144 141 3 2.13%

Total operating expenses 2,350 2,312 38 1.64%Changes in net position

Water Utility (159) (219) 60 -27.40%Sewer Utility (1) 1 (2) -200.00%Refuse Utility 3 8 (5) -62.50%

Changes in net position (157)$ (210)$ 53$ -25.24%

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Ad Valorem Millage Rates (2012 Levy)

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0.00

5.00

10.00

15.00

20.00

25.00

2012 2011 2010 2009 2008

5.50

00

4.76

18

4.45

55

4.03

00

4.17

50

16.6

856

17.2

588

17.2

907

17.1

829

15.8

463

MillageRates

OtherPonce Inlet

The Tax Roll Years specified above were adopted in the Fall quarter of the year designated. Ad valorem tax revenues from each levy will be collected

in the subsequent fiscal year (e.g. the 2012 levy will be collected in FY 2013).

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Comparable Millage Rates (2012 Levy)

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2.03.04.05.06.07.08.09.0

D.B.

Sho

res

Dayt

ona

Beac

h

Sout

hDa

yton

a

Ponc

e In

let

Port

Ora

nge

New

Sm

yrna

Beac

h

8.461908.03040

5.900005.50000

5.37200

4.05750

MillageRates

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Total Just Value- $Millions (2012 Roll)

400

600

800

1,000

1,200

1,400

Just Value Taxable Value

810

651

792

645

864

690

967

763

1,311

991 20122011201020092008

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