STATISTICALSECTION
This part of the City of Aventura’s annual comprehensive financial report presents detailed
informationasacontextforunderstandingwhattheinformationinthefinancialstatements,note
disclosures,requiredsupplementaryinformation,andsupplementaryinformationsaysaboutthe
City’soverallfinancialhealth.
Contents
Page
FinancialTrends 78Ͳ84
Theseschedulescontaintrendinformationtohelpthereaderunderstandhowthe
City’sfinancialperformanceandwellͲbeinghavechangedovertime.
RevenueCapacity 85Ͳ88
TheseschedulescontaininformationtohelpthereaderassesstheCity’smost
significantlocalrevenuesource,thepropertytax.
DebtCapacity 89Ͳ92
Theseschedulescontaininformationtohelpthereaderassesstheaffordabilityof
theCity’scurrentlevelsofoutstandingdebtandtheCity’sabilitytoissueadditional
debtinthefuture.
DemographicandEconomicInformation 93Ͳ94
Theseschedulesofferdemographicandeconomicindicatorstohelpthereader
understandtheenvironmentwithinwhichtheCity’sfinancialactivitiestakeplace.
OperatingInformation
95Ͳ97
Theseschedulescontainserviceandinfrastructuredatatohelpthereader
understandhowtheinformationintheCity’sfinancialreportrelatestothe
servicestheCityprovidesandtheactivitiesitperforms.
Sources: Unless otherwise noted, the information in these schedules is derived from the annual
comprehensivefinancialreportsfortherelevantyears.
78
) 2012201320142015201620172018201920202021 $59,176,872$63,727,119$69,229,415$68,719,115$69,973,180$69,676,810$56,363,585$83,298,863$83,259,653$81,618,679 2,240,0132,910,4523,778,5203,271,4713,856,0175,084,90217,073,4778,300,5697,873,6768,012,142 39,900,02036,690,64936,726,44138,897,28737,512,48140,147,28745,458,00531,633,82230,683,45033,075,470 $101,316,905$103,328,220$109,734,376$110,887,873$111,341,678$114,908,999$118,895,067$123,233,254$121,816,779$122,706,291 $7,126,772$6,829,449$6,532,125$6,775,365$6,809,456$8,464,648$8,942,582$8,959,654$9,302,065$9,710,999 1,429,0431,703,7132,056,6162,549,4182,265,033912,350314,906516,304810,750623,861 $8,555,815$8,533,162$8,588,741$9,324,783$9,074,489$9,376,998$9,257,488$9,475,958$10,112,815$10,334,860 $66,303,644$70,556,568$75,761,540$75,494,480$76,782,636$78,141,458$65,306,167$92,258,517$92,561,718$91,329,678 2,240,0132,910,4523,778,5203,271,4713,856,0175,084,90217,073,4778,300,5697,873,6768,012,142 41,329,06338,394,36238,783,05741,446,70539,777,51441,059,63745,772,91132,150,12631,494,20033,699,331 $109,872,720$111,861,382$118,323,117$120,212,656$120,416,167$124,285,997$128,152,555$132,709,212$131,929,594$133,041,151
FiscalYear
79
CityofAventura,Florida ChangesinNetPosition LastTenFiscalYears (AccrualBasisofAccounting) 2012201320142015201620172018201920202021 Expenses: Governmentalactivities: Generalgovernment$4,977,304$5,116,689$5,340,426$5,472,458$5,435,311$6,152,071$6,852,644$6,499,306$6,623,623$6,530,759 Publicsafety19,571,42319,776,83321,178,33521,260,56828,476,91322,977,30526,270,64628,048,17625,293,21926,134,934 Communityservices15,187,99116,006,41016,927,31418,108,07518,537,06613,906,23913,883,64414,522,25520,174,12921,581,551 PublicworksͲͲͲͲͲ5,972,2966,808,3276,594,6475,078,2845,490,916 Interestandfiscalcharges1,187,024976,609904,834811,973780,591691,208823,128915,785839,016705,175 Totalgovernmentalactivities40,923,74241,876,54144,350,90945,653,07453,229,88149,699,11954,638,38956,580,16958,008,27160,443,335 BusinessͲtypeactivities: Stormwaterutility758,185872,010805,636693,8641,165,564990,7161,479,4731,135,2361,067,6211,071,324 TotalbusinessͲtypeactivities758,185872,010805,636693,8641,165,564990,7161,479,4731,135,2361,067,6211,071,324 Totalprimary governmentexpenses$41,681,927$42,748,551$45,156,545$46,346,938$54,395,445$50,689,835$56,117,862$57,715,405$59,075,892$61,514,659 ProgramRevenues: Governmentalactivities: Chargesforservices: Publicsafety$5,413,866$5,276,699$6,369,993$6,839,027$9,155,350$8,438,187$10,703,033$9,013,897$5,956,969$7,257,567 PublicworksͲͲͲͲͲͲͲͲͲ50,451 Communityservices1,621,3341,704,5291,633,2331,828,0161,940,7082,008,5472,168,1192,415,2501,560,8081,187,005 Operatinggrantsandcontributions7,032,0457,323,8417,841,1608,261,21710,330,0758,951,7239,859,1519,494,29911,058,74313,121,152 Capitalgrantsandcontributions676,604723,9974,428,0981,253,396475,022237,244288,1741,270,000994,7791,623,343 Totalgovernmentalactivities programrevenues14,743,84915,029,06620,272,48418,181,65621,901,15519,635,70123,018,47722,193,44619,571,29923,239,518 BusinessͲtypeactivities: Chargesforservices: Stormwaterutility892,395846,921857,558926,278904,1161,283,9151,253,5141,347,0091,442,3331,376,473 CapitalgrantsandcontributionsͲͲͲͲͲͲͲͲ252,106Ͳ TotalbusinessͲtypeactivities programrevenues892,395846,921857,558926,278904,1161,283,9151,253,5141,347,0091,694,4391,376,473 Totalprimarygovernment programrevenues$15,636,244$15,875,987$21,130,042$19,107,934$22,805,271$20,919,616$24,271,991$23,540,455$21,265,738$24,615,991
FiscalYear
80
) 2012201320142015201620172018201920202021 $(26,179,893)$(26,847,475)$(24,078,425)$(27,471,418)$(31,328,726)$(30,063,418)$(31,619,912)$(34,386,723)$(38,436,972)$(37,203,817) 134,210(25,089)51,922232,414(261,448)293,199(225,959)211,773626,818305,149 $(26,045,683)$(26,872,564)$(24,026,503)$(27,239,004)$(31,590,174)$(29,770,219)$(31,845,871)$(34,174,950)$(37,810,154)$(36,898,668) $11,724,189$12,080,224$12,791,444$13,977,630$15,008,874$16,349,089$16,747,025$17,051,593$17,557,171$17,346,855 7,772,0007,551,8997,933,5357,872,4837,720,4967,655,8038,052,6949,158,3989,435,4329,604,135 3,070,0652,823,4902,289,7212,294,6672,365,8531,979,4372,544,7722,399,4562,201,6194,381,329 4,917,1075,238,7105,767,4565,960,7606,157,1107,141,4856,632,9176,413,5945,336,3086,364,811 22,426655,74377,6076,775255,022145,4981,140,4941,292,803598,318Ͳ 174,15265,72689,941182,464260,113347,537650,1831,627,1251,432,82275,749 284,916597,9161,534,877377,90815,06311,89028,560781,941459,534299,850 ͲͲͲͲͲͲͲͲ(67,841)Ͳ l 27,964,85529,013,70830,484,58130,672,68731,782,53133,630,73935,796,64538,724,91036,953,36338,072,729 ͲͲͲ496,293ͲͲ100,000ͲͲͲ ͲͲͲͲͲͲͲͲ(83,813) 4,1242,4363,6577,33511,1549,3106,4496,69710,039709 4,1242,4363,657503,62811,1549,310106,4496,69710,039(83,104) $27,968,979$29,016,144$30,488,238$31,176,315$31,793,685$33,640,049$35,903,094$38,731,607$36,963,402$37,989,625 $1,784,962$2,166,233$6,406,156$3,201,269$453,805$3,567,321$4,176,733$4,338,187$(1,483,609)$868,912 138,334(22,653)55,579736,042(250,294)302,509(119,510)218,470636,857222,045 $1,923,296$2,143,580$6,461,735$3,937,311$203,511$3,869,830$4,057,223$4,556,657$(846,752)$1,090,957 theCharterSchoolsoftheCityarepresentedasofandfortheyearendedJune30th.Fiscal
Year
81
CityofAventura,Florida
Tax Utility
Fiscal Roll AdValorem Service Franchise
Year Year Taxes Taxes Fees Total
2012 2011 $ 11,724,189 $ 7,772,000 $ 3,070,065 $ 22,566,254
2013 2012 12,080,224 7,551,899 2,823,490 22,455,613
2014 2013 12,791,444 7,933,535 2,289,721 23,014,700
2015 2014 13,977,630 7,872,483 2,294,667 24,144,780
2016 2015 15,008,874 7,720,496 2,365,853 25,095,223
2017 2016 16,349,089 7,655,803 1,979,437 25,984,329
2018 2017 16,747,025 8,052,694 2,544,772 27,344,491
2019 2018 17,051,593 9,158,398 2,399,456 28,609,447
2020 2019 17,557,171 9,435,432 2,201,619 29,194,222
2021 2020 17,346,855 9,604,135 4,381,329 31,332,319
GovernmentalActivitiesTaxRevenuesbySource LastTenFiscalYears
(AccrualBasisofAccounting)
82
ernmentalFunds lBasisofAccounting) 2012201320142015201620172018201920202021 $33,045$285,056$358,893$448,765$416,956$496,322$537,563$630,695$351,524$696,872 19,773,48819,773,48821,378,32421,405,56121,575,91121,895,75619,772,30419,772,30419,772,30419,772,304 5,747,4361,995,152789,486313,426898,4951,541,402559,263399,087361,257841,192 14,084,22214,459,66713,582,75416,912,17119,724,32821,290,15315,541,09520,350,48821,148,40324,156,021 $39,638,191$36,513,363$36,109,457$39,079,923$42,615,690$45,223,633$36,410,225$41,152,574$41,633,488$45,466,389 $30,759$Ͳ$9,466$9,466$11,961$11,961$11,961$9,466$9,465$23,019 ͲͲͲͲͲͲͲ1,779,618ͲͲ 2,240,0132,910,4523,778,5203,271,4714,286,4335,084,90217,073,4778,300,5697,873,6768,012,142 2,196,4782,153,3012,999,0944,376,4293,877,7562,648,4083,361,02915,7842,028,124657,245 ͲͲͲͲͲͲͲ(1,350,803)(2,319,884)(2,473,438) $4,467,250$5,063,753$6,787,080$7,657,366$8,176,150$7,745,271$20,446,467$8,754,634$7,591,381$6,218,968
FiscalYear
83
CityofAventura,Florida 2012201320142015201620172018201920202021 Revenues: Advaloremtaxes$11,724,189$12,080,224$12,791,444$13,977,630$15,008,874$16,349,089$16,747,025$17,051,593$17,557,171$17,346,855 Utilityserviceandother7,486,7917,856,7697,884,8307,872,4837,720,4967,655,8038,052,6949,158,3989,230,4019,696,071 Franchisefees3,070,0652,823,4902,289,7222,294,6672,374,9531,979,4372,544,7722,399,4562,201,6194,381,329 Licensesandpermits2,522,6652,489,7073,231,0913,930,5475,459,8914,978,7217,010,1084,192,5942,220,5542,872,946 Intergovernmentalrevenues11,738,61012,432,70513,115,27113,707,81413,952,10114,496,89215,200,77817,293,27317,319,09620,517,005 Chargesforservices2,891,6472,997,9163,147,9893,721,3625,061,6194,363,7124,313,7184,711,8653,562,1993,486,725 Finesandforfeitures2,459,2762,371,5442,652,6152,783,2223,008,3042,787,6282,653,6952,706,8281,734,0242,135,352 Impactfees22,426655,7436,0066,775255,022145,4971,140,4941,292,803598,318Ͳ Investmentincome174,15265,72689,941182,464260,077347,537650,1831,627,1251,432,82275,749 Miscellaneous303,795380,446474,234336,529311,886264,948514,920437,552690,764339,400 Totalrevenues42,393,61644,154,27045,683,14348,813,49353,413,22353,369,26458,828,38760,871,48756,546,96860,851,432 Expenditures: Current: Generalgovernment4,266,9814,437,5254,536,9834,631,8474,786,0535,303,7565,839,3545,529,6005,835,9845,664,264 Publicsafety18,413,32518,820,62719,682,93720,151,30622,019,80522,835,27924,752,57124,528,21323,831,44124,828,526 Communityservices12,305,72012,727,04713,654,90813,878,86314,898,67811,445,97311,893,20612,767,00114,837,52417,297,056 PublicworksͲͲͲͲͲ4,421,4614,733,8974,783,9724,877,6645,230,744 Capitaloutlay3,050,2568,158,6275,074,8223,804,6025,125,2954,653,94212,150,28917,247,1144,339,9032,935,519 Debtservice: Principal960,0001,590,0001,675,0001,735,0001,790,0001,850,0001,930,0002,120,0002,705,0001,785,000 Advancerefundingescrow597,856ͲͲͲͲͲͲͲͲͲ Interest987,303948,769867,979811,973753,904693,679769,842867,530801,084670,435 Trusteefeesandother77,909ͲͲͲͲͲͲͲͲͲ Totalexpenditures40,659,35046,682,59545,492,62945,013,59149,373,73551,204,09062,069,15967,843,43057,228,60058,411,544 Excess(deficiency)ofrevenues overexpenditures1,734,266(2,528,325)190,5143,799,9024,039,4882,165,174(3,240,772)(6,971,943)(681,632)2,439,888 Otherfinancingsources(uses): Issuanceofdebt9,885,000ͲͲͲͲͲ7,100,000ͲͲͲ SaleofgeneralcapitalassetsͲͲ1,128,90740,85015,06311,89028,56022,459ͲͲ Transfersin2,747,8032,657,8822,773,6852,666,3342,644,9082,644,5029,273,3353,478,9423,743,3532,744,214 Transfersout(2,747,803)(2,657,882)(2,773,685)(2,666,334)(2,644,908)(2,644,502)(9,273,335)(3,478,942)(3,810,994)(2,744,214) Paymenttorefundedbondescrow agent(9,810,000)ͲͲͲͲͲͲͲͲͲ Totalotherfinancing sources(uses)75,000Ͳ1,128,90740,85015,06311,8907,128,56022,459(67,641)Ͳ Netchangein fundbalances$1,809,266$(2,528,325)$1,319,421$3,840,752$4,054,551$2,177,064$3,887,788$(6,949,484)$(749,273)$2,439,888 Debtserviceasapercentageof noncapitalexpenditures5.11%6.54%6.17%6.01%5.63%5.46%4.67%5.84%6.41%4.37%
(ModifiedAccrualBasisofAccounting)
ChangesinFundBalancesofGovernmentalFunds LastTenFiscalYears FiscalYear
84
entalRevenuesBySource lBasisofAccounting) LicensesInterͲ emUtilityTaxesFranchiseandGovernmentalChargesFinesandImpactInvestment esandOtherFeesPermitsRevenuesforServicesForfeituresFeesIncomeMiscellaneousTotal $7,486,791$3,070,065$2,522,665$11,738,610$2,891,647$2,459,276$22,426$174,152$303,795$42,393,616 7,856,7692,823,4902,489,70712,432,7052,997,9162,371,544655,74365,726380,44644,154,270 7,884,8302,289,7223,231,09113,115,2713,147,9892,652,6156,00689,941474,23445,683,143 7,872,4832,294,6673,930,54713,707,8143,721,3622,783,2226,775182,464336,52948,813,493 7,720,4962,374,9535,459,89113,952,1015,061,6193,008,304255,022260,077311,88653,413,223 7,655,8031,979,4374,978,72114,496,8924,363,7122,787,628145,497347,537264,94853,369,264 8,052,6942,544,7727,010,10815,200,7784,313,7182,653,6951,140,494650,183514,92058,828,387 9,158,3982,399,4564,192,59417,293,2734,711,8652,706,8281,292,8031,627,125437,55260,871,487 9,230,4012,201,6192,220,55417,319,0963,562,1991,734,024598,3181,432,822690,76456,546,968 9,696,0714,381,3292,872,94620,517,0053,486,7252,135,352Ͳ75,749339,40060,851,432
85
CityofAventura,Florida Less:Assessed TaxTotalTotalEstimatedValueasa TaxExemptTaxableDirectActualPercentage FiscalRollRealPersonalRealAssessedTaxTaxableofActual YearYearPropertyPropertyPropertyValueRateValue(1)Value 20122011$7,599,224,177$212,774,157$(521,364,015)$7,290,634,3191.7261$8,158,847,193$89.359% 201320127,832,825,557216,503,467(548,090,007)7,501,239,0171.72618,489,607,87188.358% 201420138,109,509,199211,480,897(534,557,698)7,786,432,3981.72619,019,164,45786.332% 201520148,734,453,409198,681,857(538,824,136)8,394,311,1301.726110,144,322,01382.749% 201620159,418,840,654208,455,823(532,334,375)9,094,962,1021.726111,145,485,99681.602% 2017201610,256,329,248216,738,181(571,373,185)9,901,694,2441.726112,029,604,13382.311% 2018201710,450,567,929223,735,802(575,305,868)10,098,997,8631.726111,839,266,62885.301% 2019201810,669,786,837251,121,004(555,067,665)10,365,840,1761.726111,891,380,99187.171% 2020201911,012,770,618286,759,608(559,343,594)10,740,186,6321.726112,261,439,43287.593% 2021202010,835,195,692309,145,157(594,123,975)10,550,216,8741.726111,824,717,39789.222% Note:(1)FloridaLawrequiresthatallpropertybeassessedatcurrentfairmarketvalue.
AssessedValueandEstimatedActualAssessedValueofTaxableProperty LastTenFiscalYears
86
Other SouthTotal FloridaFloridaDirect ebtTotalDebtTotalWaterInlandTotalDebtFireTotaland viceCityOperatingVotedServiceSchoolManagementEvergladesOkeechobeeNavigationalRegionalOperatingServiceandFireCountyChildren'sOverlapping geMillageMillageOperatingMillageMileageMileageProjectBasinDistrictMillageMillageMillageRescueDebtLibraryMillageTrustRates 00001.72617.76500.00000.24008.00500.37390.06240.00000.03450.47084.80500.28502.44960.01310.17957.73220.500018.4341 00001.72617.76500.00000.23307.99800.36760.06130.00000.03450.46344.70350.28502.44960.01310.17257.62370.500018.3112 00001.72617.64400.00000.33307.97700.35230.05870.00000.03450.44554.70350.42202.44960.01270.17257.76030.500018.4089 00001.72617.77500.00000.19907.97400.15770.05480.17170.03450.41874.66690.45002.42070.01140.28407.83300.500018.4518 00001.72617.41300.00000.19907.61200.14590.05060.15860.03200.38714.66690.45002.42070.00860.28407.83020.500018.0554 00001.72617.13800.00000.18407.32200.13590.04710.14770.03200.36274.66690.40002.42070.00750.28407.77910.500017.6899 00001.72616.77400.00000.22006.99400.12750.04410.13840.03200.34204.66690.40002.42070.00750.28407.77910.467317.3085 00001.72616.50400.00000.22906.73300.12090.04170.13100.03200.32564.66690.46442.42070.00000.28407.83600.441517.0622 00001.72617.02500.00000.12307.14800.11520.03970.12460.03200.31154.66690.47802.42070.00000.28407.84960.468017.5032 00001.72616.18600.75000.19307.12900.11030.03800.11920.03200.29954.66690.47802.42070.00000.28407.84960.450717.4549 Appraiser'sOffice.
SchoolDistrictenturaRegionalMiamiͲDadeCounty
Governments bleValue) OverlappingRates
87
CityofAventura,Florida FiscalYear PercentagePercentage TotalTotal TaxableTaxableTaxableTaxable AssessedAssessedAssessedAssessed TypeofUseValueRankValueValueRankValue AventuraMallVentureLessorShoppingCenter$616,486,62515.84%$398,448,02715.47% TBIsleResortLPGolfCourse,Hotel&Marina180,248,29321.71%63,471,53840.87% MiamiBeachHealthcareGroup,LTDHospital&HealthCareFacility148,874,09631.41%158,497,47922.17% RenaissanceAventura,LLCOfficeBuilding74,213,25340.70%ͲͲͲ FloridaPower&LightCo.ElectricalUtilityCompany63,312,54850.60%41,398,82770.57% AventuraHarbourBorrower,LLCOfficeBuilding59,200,00060.56%ͲͲͲ PromventureLimitedPartnershipShoppingCenter57,655,44470.55%ͲͲͲ SummitPropertiesPartnership,LPRentalApartmentComplex54,576,00080.52%47,000,00060.64% EquityOneFloridaPortfolioShoppingCenter48,549,17290.46%ͲͲͲ SCGAtlasAventura,LLCMultiͲFamily47,255,000100.45%ͲͲͲ CCͲAventuraInc.Independent/AssistedLivingFacilityͲͲͲ91,532,39331.26% D.SofferandB.RedichTRSCommercialDeveloperͲͲͲ49,913,39350.68% BruceStrohmandD.NeithercutTRSRentalApartmentComplexͲͲͲ40,000,00080.55% NNNAventuraHarbourCentre,LLCMixedUseZones&OfficesͲͲͲ38,100,00090.52% LincolnAventura,LLCRentalApartmentComplexͲͲͲ34,800,000100.48% Totals$1,350,370,43112.80%$963,161,65713.21% Source:MiamiͲDadeCountyͲOfficeofthePropertyAppraiser.
20212012 Taxpayer
PrincipalPropertyTaxpayers CurrentYearandNineYearsAgo
88
andCollections PercentagePercentage ofCurrentofTotal (1)Tax(2)Tax TaxPropertyPropertyNetCurrentCollectionsDelinquentTotalCollection RollTaxTaxTaxTaxtoNetTaxTaxtoProperty YearLevyDiscountLevyCollectionTaxLevyCollectionCollectionTaxLevy 2011$12,584,364$503,375$12,080,989$11,612,01596.12%$112,174$11,724,18993.16% 201212,947,889517,91612,429,97311,857,99195.40%222,23312,080,22493.30% 201313,440,161537,60612,902,55512,669,11298.19%122,33212,791,44495.17% 201414,489,420579,57713,909,84313,572,76497.58%404,86613,977,63096.47% 201515,698,814627,95315,070,86114,932,03699.08%76,83815,008,87495.61% 201617,091,314683,65316,407,66115,905,40996.94%443,68016,349,08995.66% 201717,431,880697,27516,734,60516,211,76396.88%535,26216,747,02596.07% 201817,892,477715,69917,176,77816,413,36895.56%638,22517,051,59395.30% 201918,538,636741,54517,797,09116,771,34494.24%785,82717,557,17194.71% 202018,210,729728,42917,482,30016,827,28096.25%519,57517,346,85595.26% County,Florida,TaxCollector. daLawallowsuptoa4%discountfortimelypaymentofpropertytaxes. correctionsandpenalties.
89
CityofAventura,Florida
BusinessͲType Activities
General Total Percentage Per
Fiscal Obligation Revenue Lineof Outstanding Primary ofPersonal Capita
Year Bonds Bonds Credit Bonds Government Income(1) (1)
2012 $ Ͳ $ 28,805,000 $ Ͳ $ Ͳ $ 28,805,000 1.91% $ 773.52 2013 Ͳ 27,215,000 Ͳ Ͳ 27,215,000 1.79% 721.40 2014 Ͳ 25,540,000 Ͳ Ͳ 25,540,000 1.64% 685.42 2015 Ͳ 23,805,000 Ͳ Ͳ 23,805,000 * 635.26 2016 Ͳ 22,015,000 Ͳ Ͳ 22,015,000 * 585.33 2017 Ͳ 20,165,000 Ͳ Ͳ 20,165,000 * 534.97 2018 Ͳ 25,335,000 Ͳ Ͳ 25,335,000 * 672.12 2019 Ͳ 23,215,000 Ͳ Ͳ 23,215,000 * 614.32 2020 Ͳ 20,510,000 Ͳ Ͳ 20,510,000 * 539.30 2021 Ͳ 18,725,000 Ͳ Ͳ 18,725,000 * 463.82
Notes: DetailsregardingtheCity'soutstandingdebtcanbefoundinthenotestothefinancialstatements.
(1)SeetheScheduleofDemographicandEconomicStatisticsforpersonalincomeandpopulationdata.
* Informationnotavailable.
GovernmentalActivities RatiosofOutstandingDebtbyType
LastTenFiscalYears
CityofAventura,Florida
RatiosofGeneralBondedDebtOutstanding LastTenFiscalYears
Less: Ratio
Amounts ofNet Net
Available Assessed Bonded Bonded
Gross inDebt Net Valueof Debtto Debt
Fiscal Bonded Service Bonded Taxable Assessed Per
Year Debt Funds Debt Property Value Capita(1)
2012 $ 28,805,000 $ 274,594 $ 28,530,406 $ 7,290,634,319 0.39% $ 766.14
2013 27,215,000 311,384 26,903,616 7,501,239,017 0.36% 713.15
2014 25,540,000 337,770 25,202,230 7,786,432,398 0.32% 676.35
2015 23,805,000 353,377 23,451,623 8,394,311,130 0.28% 625.83
2016 22,015,000 380,498 21,634,502 9,094,962,102 0.24% 575.22
2017 20,165,000 408,361 19,756,639 9,901,694,244 0.20% 524.13
2018 25,335,000 478,742 24,856,258 10,098,997,863 0.25% 659.42
2019 23,215,000 536,587 22,678,413 10,365,840,176 0.22% 600.12
2020 20,510,000 258,892 20,251,108 10,740,186,632 0.19% 532.49
2021 18,725,000 297,898 18,427,102 10,550,216,874 0.17% 456.44
Notes: DetailsregardingtheCity'soutstandingdebtcanbefoundinthenotestothefinancialstatements.
(1) SeetheScheduleofDemographicandEconomicStatisticsforpopulationdata.
91
CityofAventura,Florida
Estimated Percentage
Applicable Estimated toCityof Shareof
Debt Aventura Overlapping
Jurisdiction Outstanding (1) Debt
Overlappingdebt:
MiamiͲDadeBoardofCountyCommissioners(2) $ 5,114,532,820 3.337% $ 170,692,418
MiamiͲDadeCountySchoolBoard(2) 3,151,802,000 3.337% 105,188,240
Subtotaloverlappingdebt 8,266,334,820 275,880,658
Directdebt:
CityofAventura 18,725,000 100.000% 18,725,000
Subtotaldirectdebt 18,725,000 18,725,000
Totaldirectandoverlappingdebt $ 8,285,059,820 $ 294,605,658
Notes: (1) Thepercentageoftheoverlapiscalculatedasfollows:
Assessedvalueoftaxablepropertyisthebaseusedintheabovecalculation.
(2) Source:MiamiͲDadeCounty&MiamiͲDadeCountyPublicSchools,FinanceDepartment.
DirectandOverlappingGovernmentalActivityDebt September30,2021
Overlappingportionofthegovernment'srevenuebase(CityofAventura) Totalrevenuebaseoftheoverlappinggovernment(MiamiͲDadeCounty)
92
,Florida nInformation 2012201320142015201620172018201920202021 $729,063,432$750,123,902$778,643,240$839,431,113$909,496,210$990,169,424$1,009,899,786$1,036,584,018$1,074,018,663$1,055,021,687 ͲͲͲͲͲͲͲͲͲͲ $729,063,432$750,123,902$778,643,240$839,431,113$909,496,210$990,169,424$1,009,899,786$1,036,584,018$1,074,018,663$1,055,021,687 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00% LegalDebtMarginCalculationforFiscalYear2021 Assessedvaluationoftaxablerealandpersonalproperty$10,550,216,874 BondeddebtlimitͲ10%above(1)$1,055,021,687 Amountofdebtapplicabletodebtlimit: Totalbondeddebt$18,725,000 Less:debttoberepaidfromspecifiedrevenuesources: Covenanttobudgetandappropriate(18,725,000) TotalnetdebtapplicabletolimitͲ LegalDebtMargin(1)$1,055,021,687 eCityCharterallowsrevenuebondstobeissuedwhenauthorizedbytheCityCommission asfive(5)oftheseven(7)Commissionmembersapprovethedebt.AdValorem obligationbonds)mustbeapprovedbyreferendumoftheelectorate.TheCharter nolimitontheamountofthegeneralobligationdebt;however,theadopted alImprovementProgramprovidesthatgeneralobligationbondsshallnotexceed oftheCity'stotalassessedvalue.
FiscalYear
93
CityofAventura,Florida
DemographicandEconomicStatistics LastTenFiscalYears
Personal
Income PerCapita
(Amounts Personal Unemployment
Fiscal Population Expressedin Income Rate
Year (1) Thousands) (2) (3)
2012 37,239 $ 1,508,701 $ 40,514 6.2%
2013 37,725 1,516,696 40,204 6.0%
2014 37,262 1,560,644 41,883 5.4%
2015 37,473 * * 5.8%
2016 37,611 * * 5.5%
2017 37,694 * * 4.3%
2018 37,694 * * 3.4%
2019 37,790 * * 2.5%
2020 38,031 * * 7.0%
2021 40,371 * * 5.3%
Datasources:
(1) YearsareasofApril1ofeachyearpertheUniversityofFlorida
BureauofEconomics&BusinessResearch.
(2) RepresentsincomepercapitaforMiamiͲDadeCountyasprovided
bytheU.S.DepartmentofCommerce,BureauofEconomicAnalysis.
(3) FloridaDepartmentofLabor,BureauofLaborMarketInformation.
* Informationnotavailable.
CityofAventura,Florida
Percentage Percentage
ofTotal ofTotal
OccupationalGroups SOCCode Employees Rank Employment Employees Rank Employment
Officeandadministrativesupport 43Ͳ0000 389,270 1 15.52% 198,840 1 20.32%
Salesandrelated 41Ͳ0000 293,800 2 11.72% 134,200 2 13.73%
Transportationandmaterialmoving 53Ͳ0000 221,110 4 8.82% 67,720 4 6.93%
Foodpreparationandservingrelated 35Ͳ0000 217,570 3 8.68% 84,980 3 8.69%
Healthcarepractitionersandtechnical 29Ͳ0000 162,320 5 6.47% 59,200 5 6.06%
Businessandfinancialoperations 13Ͳ0000 161,760 6 6.45% 50,680 7 5.18%
Management 11Ͳ0000 149,400 7 5.96% 32,100 12 3.28%
Education,trainingandlibrary 25Ͳ0000 118,610 8 4.73% 51,840 6 5.30%
Installation,maintenanceandrepair 49Ͳ0000 104,890 9 4.18% 36,470 9 3.73%
Constructionandextraction 47Ͳ0000 103,950 10 4.14% 23,600 15 2.41%
Buildingandgroundscleaningand
maintenance 37Ͳ0000 85,570 11 3.41% 33,720 11 3.45%
Protectiveservice 33Ͳ0000 84,680 12 3.38% 37,620 8 3.85%
Healthcaresupport 31Ͳ0000 80,590 13 3.21% 26,370 14 2.70%
Production 51Ͳ0000 75,870 14 3.03% 34,100 10 3.49%
Computerandmathematical 15Ͳ0000 58,580 15 2.34% 17,180 16 1.76%
Personalcareandservice 39Ͳ0000 53,200 16 2.12% 29,650 13 3.03%
Legal 23Ͳ0000 36,450 17 1.45% 15,110 17 1.55%
Communityandsocialservice 21Ͳ0000 34,300 18 1.37% 11,830 19 1.21%
Arts,design,entertainment,sports
andmedia 27Ͳ0000 31,920 19 1.27% 14,740 18 1.51%
Architectureandengineering 17Ͳ0000 26,100 20 1.04% 10,010 20 1.02%
Life,physicalandsocialscience 19Ͳ0000 13,720 21 0.55% 4,000 21 0.41%
Farming,fishingandforestry 45Ͳ0000 4,230 22 0.17% 3,730 22 0.38%
Total 2,507,890 100.00% 977,690 100.00%
Source: RepresentsMetropolitanandNonmetropolitanAreaOccupationalEmploymentforthe entireMiamiͲMiamiBeachͲKendall,FloridaMetropolitanDivisionasprovidedbythe U.S.DepartmentofLabor,BureauofLaborStatisticsasofMay2020.Estimatesdo notincludeselfͲemployedworkers.
OccupationalEmploymentbyGroupͲMiamiͲDadeCounty,Florida CurrentYearandNineYearsAgo
2021 2012
95
CityofAventura,Florida 2012201320142015201620172018201920202021 Function: Generalgovernment19182222222222212123 Publicsafety: Sworn83838383838285898892 Civilians38383738393936373732 Communityservices1414141414108161715 Publicworks/transportation(1) ͲͲͲͲͲ67778 Communitydevelopment8888888667 Total162161164165166167166176176177 Source:VariousCitydepartments. (1) PriortoOctober1,2016thisfunctionwaspreviouslycombinedwithCommunityservices.
FullͲTimeEquivalentCityGovernmentEmployeesbyFunction LastTenFiscalYears FiscalYear
96
2012201320142015201620172018201920202021 2,2982,3532,2102,2732,1262,0912,3342,0821,6381,560 2,2582,0151,9371,7051,5601,2321,3261,209969991 18,70716,94018,69015,91119,59613,34310,2778,9763,9394,212 2,1201,8471,4981,2956188897951,174424817 29,27629,12328,68216,81615,68815,24817,93416,51515,73017,653 1,1022,0462,1342,1442,0712,1622,0421,9231,4141,709 4,6155,1415,2445,3524,9594,5606,3305,0633,2733,954 7,9638,95410,43812,53812,05511,25714,23615,80310,23211,282 issued13518713914610915011976121153 issued2,5802,7122,3832,5042,6252,4382,7048195791,933 berships1,1011,0881,1251,1001,1321,0931,021984795814 e24,95727,18831,71532,64835,89539,58736,37635,21515,96288,852 271,645284,876279,943270,082274,223274,532300,858300,123157,060148,456 9849961,0081,0201,0201,0201,0201,0201,0201,032 N/AN/AN/AN/AN/AN/AN/A200415620 usCitydepartments. crimesinclude:homicide,sexoffenses,robbery,aggravatedassault,burglary, arsonandautotheft. nisnotapplicableastheDonSofferAventuraHighSchoolopenedinAugust2019.
byFunction FiscalYear
97
CityofAventura,Florida 2012201320142015201620172018201920202021 Function: PoliceStations1111111111 Firestations(1)2222222222 Parksandrecreation: Publicrecreationareas6666677777 Publicrecreationacreage30.5030.5030.5030.5030.5032.0032.0032.0032.0032.00 Baseball/softballdiamonds2222222222 Soccer/footballfields3333333333 Tenniscourts3333333333 Communityrecreationcenters1111111111 Libraries(1)1111111111 Publicworks: Streetlights712742800800824937937937937937 Milesofroads13.8013.8013.8013.8013.8013.8013.8014.0014.0014.00 Charterschools: AventuraCityExcellence School(KͲ8)1111111111 DonSofferAventura HighSchoolN/AN/AN/AN/AN/AN/AN/A111 Transitroutes/minibuses(2) Permanent5555566666 SeasonalͲͲͲͲ1ͲͲͲͲͲ Notes:(1)OwnedandoperatedbyMiamiͲDadeCounty,Florida. (2)Operatedundercontractualagreement. N/A:Informationnotavailable.
CapitalAssetStatisticsbyFunction LastTenFiscalYears FiscalYear