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18 
Escambia County, Florida
Long‐Term Debt
Governmental
Activities
2011
2010
Revenue Bonds:
  Sales tax revenue bonds
$77,005,000
$78,990,000
  Tourist development bonds
9,420,000
10,415,000
  Capital improvement bonds
18,625,000
19,135,000
     Total revenue bonds
105,050,000
108,540,000
Leases:
  Capital Leases
0
507,504
     Total leases
0
507,504
Total Long‐Term Debt
$105,050,000
$109,047,504
Standard & Poor’s affirmed that Escambia County maintains a bond rating of AA‐ with a stable rating.  The stable 
rating indicates that a rating is not likely to change.  The County has met and complied with all technical and 
financial covenants in the bond contracts.   
No legal debt limit is set by the Constitution of the State of Florida or Escambia County.  Additional information on 
Escambia County’s long‐term debt can be found in the Notes section of this report. 
Economic Factors and Year 2012 Budgets and Rates 
The fiscal 2012 budget was balanced holding the County‐wide millage rate at 6.976 and the Law Enforcement 
MSTU rate remaining at .685 mils.  With homeowners’ insurance rates at least doubling in previous years and 
remaining exceptionally high, the County is committed to responsible levels of taxation.   
Factors considered in preparing Escambia County’s budget for the 2012 fiscal year included: 
The reduction of 2.15% in assessed values on the property in Escambia County contributed to a decreased 
budget of property tax revenue of $2,182,581 for fiscal 2012, even though the millage rate remained at 
the 2011 level. 
The Consumer’s Price Index (CPI) increased 3.9% over the previous year’s rate.  While the CPI is not 
specific to Escambia County, it does provide an indication of the overall economic condition of the nation 
and provides economic guidance for budgeting. 
Major revenues such as state sales tax, local option sales tax, local option gas tax, and franchise fees have 
been budgeted with a modest .95% increase overall. 
Costs will be controlled utilizing a life‐cycle basis approach to vehicle replacement.  In other words, a 
vehicle will only be replaced when the annual maintenance cost approaches the annual depreciable cost 
of a vehicle. 
Maintenance of existing infrastructure consisting of transportation systems, County facilities, drainage 
and parks are a first priority. 
Continue to provide urban‐type services including parks and recreation, public works, growth 
management, code enforcement, and fire protection services at a fiscally responsible cost.