P C C C C
J A. C
F S ,
N C, F
Your Roadmap to County Finances
B T N
Dear Citizens,
As part of our oce’s commitment to open, accountable, and scally
responsible County government, I am pleased to present By e Numbers:
Your Roadmap to County Finances for Nassau County, Florida, for the scal
year ended 09/30/2023. is report, which is also called the Popular Annual
Financial Report (PAFR), is designed to provide a better understanding of
County revenues and how those dollars were managed and spent. e information contained in this
report is derived from broader and more detailed data contained in the 2023 Annual Comprehensive
Financial Report (ACFR), which includes nancial statements audited by Purvis Gray & Company.
e nancial information presented here is in a condensed and simplied form. It is not meant to be
a substitute for the County’s Annual Report, which provides detail on the County’s nancial position
and nancial changes during the scal year in conformity with generally accepted accounting
principles (GAAP).
e nancial information within this report includes not only the County itself, but also the
following legally separate component units: Nassau County Housing Finance Authority (NCHFA),
and Recreation and Water Conservation and Control District No. 1 (RWCCD).
Additional resources contained in this report include local statistics such as historical population and
unemployment numbers, as well as a directory of all elected ocials and departments of your County
government.
I am pleased to report that Nassau County has received the Certicate of Achievement in Financial
Reporting for the Annual Comprehensive Financial Report for seventeen consecutive years. e
County also received the Award for Outstanding Achievement in Popular Annual Financial Reporting
for the last twelve years.
Both the PAFR and the ACFR are available online at www.nassauclerk.com.
Hard copies of the PAFR are available at the Nassau County libraries or upon
request at the Nassau County Clerk of the Circuit Court and Comptroller’s
oces at the Historic Courthouse in Fernandina Beach or the Robert M.
Foster Justice Center in Yulee. You may also call my oce at (904) 548-4600
to share your comments, questions or concerns. I hope that this information
will help you more fully understand your government’s nances.
Sincerely ,
Clerk & Comptroller
Message from the Clerk
Government Finance Officers Association
Award for
Outstanding
Achievement in
Popular Annual
Financial Reporting
Presented to
Nassau County
Florida
For its Annual Financial Report
For the Fiscal Year Ended
September 30, 2022
Executive Director/CEO
“We are Public Servants! Our every eort shall be dedicated to protecting and preserving
the Public Trust.”
Table of Contents 1
County Structure 2
County Statistics 2, 3
Tourism Industry 3
County Accomplishments 4
County Budget/Reserves 5
e General Fund 6
Tax Revenue Trends 7
County Revenues 8
TABLE OF CONTENTS
County Expenses 9
Financial Statements 10, 11
Glossary of Terms 11
What the County Owns 12
What the County Owes 13
Board of County Commissioners 14
Directory by Departments 15
Constitutional Ocers 16, 17
Photo courtesy of Scott Moore Photography
Historic Courthouse, 1891
“We are Public Servants! Our every eort shall be dedicated to protecting and preserving
the Public Trust.”
1
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
Nassau County U.S.
Y C GY C G
N
assau County operates under the Constitution and Laws of the State of Florida.
e governing board consists of ve citizen-elected County Commissioners (the
BOCC) each representing a dierent district within the County and elected to staggered
four-year terms.
e BOCC sets public policy, levies taxes, and authorizes spending for various County
programs, capital projects, and operating expenses. e County Manager reports directly to the Board and is
responsible for operations of all BOCC Departments.
Clerk of the
Circuit Court
and
Comptroller
Supervisor
of
Elections
Property
Appraiser
Tax
Collector
Five-Member
Board of County
Commissioners
(BOCC)
John A. Crawford Bill Leeper John M. Drew Janet H. AdkinsA. Michael Hickox
Klynt A Farmer, Chair
John F. Martin, V-Chair
A.M. “Hupp” Huppmann
Je Gray
Alyson R. McCullough
Elected Constitutional Ocers & BOCC
(as of 09/30/2023)
e Citizens of Nassau County
N C P
Nassau County’s population has increased 33.8% in the last
ten years from 75,321 in 2014 to
100,763 in 2023.
Sources: FL Oce of Econ & Demo Research, US Census Bureau
In September 2023, Nassau County’s unemployment rate
increased to 3.0% compared to a US rate of 3.8% and a prior
year County unemployment rate of 2.3%.
U R
Sources: FL Dept of Economic Opportunity, Bureau of Labor Statistics
C SC S
3.0%
3.8%
75,321
76,536
77,841
80,456
82,748
85,070
89,258
93,012
95,809
100,763
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
“We are Public Servants! Our every eort shall be dedicated to protecting and preserving
the Public Trust.”
2
0
15,000
30,000
45,000
60,000
75,000
90,000
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
Median Household Income
Nassau County FL US
Source: US Census Bureau – American Community Survey – B19013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
0
25
50
75
100
125
150
175
200
225
250
Millions
Lodging Revenues
0
50
100
150
200
250
300
350
400
450
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
Thousands
Median Home Sales Price
0
50
100
150
200
250
300
350
400
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
Nassau County Foreclosures
Nassau County’s median household income increased by 8.5%
to $84,085 in 2022, compared to $67,917 for Florida and $74,755
for the US.
T SIX N C E :
( T C E)
1. Nassau County School District 4.5 %
2. Omni Amelia Island Plantation 2.1 %
3. Nassau County Government 2.0 %
4. e Ritz-Carlton 1.3 %
5. WestRock CP, LLC 1.0 %
6. Rayonier Advanced Materials 0.9 %
Tourism-related business generated 28.6% of scal year 2023 sales tax revenue in Nassau County, down from 30% the prior year.
Tourists visiting Amelia Island in scal year 2023 resulted in taxable room sales of $228.8 million and an average daily rental rate of
$302. Tourist Development Tax revenues totaled $11,415,457 in scal year 2023 compared to $11,418,543 in 2022.
e average overnight visitor stayed for 3.7 nights with an average party size of 2.8 persons. e activities enjoyed the most during
their visit included the beach, dining out and Historic Downtown.
$84,085
e median home sale price in Nassau County is up 117.5%
since 2014 and up 0.2% in 2023 when compared to 2022.
$394,790
T IT I
Amelia Island Tourist Development Tax revenues have increased by $7 million (156.6%) since 2014 as a result
of tourism growth, higher room rates, and increases in the tax rate on lodging from 3% in 2009 to 5% (eective
07/01/18).
150
0
2
4
6
8
10
12
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
Millions
Amelia Island Tourist
Development Tax Revenues
$11,415,457
$228.8 Million
Foreclosure Cases Filed
Source: Northeast Florida Association of Realtors
“We are Public Servants! Our every eort shall be dedicated to protecting and preserving
the Public Trust.”
3
County Road 108
resurfacing and
safety improvements
Total Calls for Service
11,140
Brush Fires 110 Medical Calls 8,066
Fire Alarms 616 Medical Alarms 318
HAZMAT 73 Vehicle Crashes 628
Structure Fires 111 Cardiac Trauma 151
Other Fires 316 Investigations 345
Driveway/Sidewalk Permits
Issued
1,017
Utility Permits Issued 171
Pond/Borrow Pit Permits Issued 23
30
Flashers Maintained 36
Nassau County
Development Services
Engineering Services is
responsible for the design,
inspection & administration
of public works improvements
within the County.
Work Orders Completed 2,311
Dirt Roads Maintained (Miles) 180
LF of Drains Cleaned 33,781
LF of Ditches Cleaned 60,605
Fleet Repairs 1,096
Nassau County
Road Department
The Road Department
performs maintenance on
County maintained roads
including paving, grading and
applying surface treatments.
M C A F Y M C A F Y
Fire Rescue
The Nassau County Annual Report for 2023 is available on the County’s
www.nassaucounty.com/113/County-Manager
New Builds, Additions, Rehabs,
Roofs, Siding, Signs
4,557
Mobile Home & Modular Home 123
Electrical 3,402
Mechanical 2,272
Plumbing 3,937
Nassau County
Building Department
Contractor Licenses / Renewals 233
1,755
Field Inspections 28,943
Permit Type Issued
Other Activities
Branch Visits 103,175
Library Cards Issued 3,399
eBooks/Audio
Books Circulated
33,836
Items Circulated 206,458
Website Visits 131,712
Locker Circulation 1,112
Tributary Regional Park Phase 1
Ribbon Cutting for Phase One
of the Nassau Crossing Park
Included two playgrounds, walking
and pavilions.
Nassau Crossing Dog Park
Grand Opening
Amelia Island Trail
Phase 1
New Playground at the
Hilliard Ballpark
“We are Public Servants! Our every eort shall be dedicated to protecting and preserving
the Public Trust.”
4
42.7
39.6
102.3
7.0
10.6
66.0
76.4
47.1
47.6
133.7
5.6
7.7
75.1
91.8
52.8
59.4
170.4
4.9
21.7
137.2
74.1
0
10
20
30
40
50
60
70
80
90
100
110
120
130
140
150
160
170
180
Wages &
Benefits
Operating Costs Capital
Expenses
Debt Service Grants & Aids Other Uses Reserves
Millions of Dollars
2020/2021 2021/2022 2022/2023
15.0
7.1
12.8
19.1
22.3
16.4
8.3
16.0
31.9
19.2
18.0
8.2
17.1
18.6
12.2
0
5
10
15
20
25
30
35
Minimum Fund
Balance
Contingency Cash Forward Capital Plan Other
2020/2021 2021/2022 2022/20223
State law requires Nassau County
and your elected Commissioners to
adopt a balanced budget to operate
the County for the upcoming fiscal
year, which begins each October 1st.
The annual budget must include all
governmental funds as well as the
enterprise fund (for the sewer &
water business owned and operated
by the County). The budget contains
the details of required expenses and
identifies the sources of the funds
to pay for them. The budget also
specifies the Reserves, which are the
County’s funds in excess of known
expenses.
With the exceptions of the Property
Appraiser and the Tax Collector,
whose budgets are approved by the
Florida Department of Revenue,
and the Clerk, whose court-related
budget is approved at the state level,
the budgets of all Constitutional
Officers must be approved by the
BOCC.
T A:
1. The County prepares its Annual Budget (as
well as a set of financial statements) using
Fund Accounting, which focuses on cash flows
and the near-term ability of the County to
pay its bills each year. Funds are segregated,
each with its own set of rules and objectives.
The set of funds known as the Governmental
Funds are used to account for the general
services provided to the public.
2. The Statement of Activities and the Statement
of Net Position (provided later in this report
in a condensed fashion) focus on the County
as a single entity and use accounting methods
similar to those used in the private sector.
BOCC 2022/2023 COUNTY BUDGET
S ,
$520,533,264
(an 27.5% increase over the prior year)
RESERVES
(MILLIONS)
+ = + + = +
T C’ A BT C’ A B
“We are Public Servants! Our every eort shall be dedicated to protecting and preserving
the Public Trust.”
5
0
20
40
60
80
100
120
140
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Millions
Ending Balance Expenditures Revenues
T G FT G F
The General Fund is the main operating fund for Nassau
County. Fiscal year 2023 General Fund revenues
increased by $14.5 million (13.6%) including a $8.2
million increase in property tax revenues resulting from
an increase in the County’s higher taxable assessed value,
as well as substantial growth in the housing market.
Other contributors to increased revenues include $1.2
million in one-cent sales surtax revenue and $4.5 million
in investment earnings.
Expenditures increased by $13.7 million when compared
to 2022. Public Safety expenditures were up $5.1 million,
Physical Enviroment were up $5.1 million, and General
Government $1.2 million due primarily to increases in
aid to municipalities and salaries and benefits.
After accounting for transfers and capital asset sales, the
General Fund ended the fiscal year on 09/30/23 with a
fund balance of $73.1 million; which was an increase of
$5.2 million (7.6%) from the end of the prior fiscal year.
The fund balance represented 73.6% of the fiscal year’s
General Fund expenditures of $99.3 million.
• Property Taxes represented 66.2% of General Fund Revenues in fiscal year 2023.
• For fiscal year 2022/2023 the General Fund millage rate decreased from 6.7336 to 6.5316 mills.
• The FIVE LARGEST PROPERTY TAX ASSESSED VALUES in Nassau County in 2023 were:
Taxable Assessed Value
WestRock CP, LLC $ 272.7 million
Florida Power & Light $ 144.6
Ameliatel (Ritz-Carlton) $ 99.4
Omni Amelia Island LLC $ 80.4
Rayonier Performance Fibers $ 72.9
73.6% of
Expenditures
P TP T
$73,066,987
$121,362,372
$99,326,739
“We are Public Servants! Our every eort shall be dedicated to protecting and preserving
the Public Trust.”
6
0
5
10
15
20
25
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Millions
0
2
4
6
8
10
12
14
16
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Millions
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Millions
0
1
2
3
4
5
6
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
Millions
0
20
40
60
80
100
2014 2015 2016 2018 2018 2019 2020 2021 2022 2023
Millions
T R TT R T
P T R
( F Y)
$107,105,417
County property tax revenues were up $11 million (11.4%)
compared to the prior scal year due primarily to an increase in
the County’s taxable assessed value as result of new construction
and increases in values of existing properties.
F, U O T R
( F Y)
$5,710,900
County fuel, utility services and other tax revenues increased by
$602,717 (11.8%) in 2023 when compared to scal year 2022.
e County’s local option gas tax increased by 5 cents per gallon
eective January 2019.
S T RS T R
S R S
( F Y)
$3,785,808
State revenue sharing increased by $298,468 (8.6%) in 2023 when
compared to the prior scal year.
O-C S R
( F Y)
$17,052,348
A O S T R
( F Y)
$19,095,109
e County’s sales tax revenues increased by $1,932,607 (5.1%) to $39,933,265 when compared to the prior
year. e one-cent sales surtax revenues increased year–to-year by $1,229,695 (7.8%), while all other sales tax
revenues increased year-to-year by $404,444 (2.2%).
“Nao Santa Maria” docked at the Fernandina Harbor Marina
“We are Public Servants! Our every eort shall be dedicated to protecting and preserving
the Public Trust.”
7
C R F Y
County Revenues were up $38.4 million
(20.2%) in fiscal year 2023 as compared to the
prior year:
• Tax Revenues increased by $13.5 million,
with property tax revenues up $11million
due primarily to higher assessed values
and new growth, and all other tax revenues
increased by $2.5 million.
• Grants & Contributions Revenues
increased by $17.1 million in fiscal year
2023 when compared to fiscal year 2022.
• Charges for Services Revenues decreased
by $254,180 year-to-year.
• Other Revenues increased by $8 million
compared to fiscal year 2022.
Property Taxes accounted for 46.9% of the County Revenues in scal
year 2023 and represented an average cost per citizen of $1,063.
T-Y C
R T
General Revenues include taxes collected and
investment/miscellaneous income and exclude
Government Charges for Services and Grants and
Contributions.
C RC R
Property Taxes 46.9%
Other Taxes 20.0%
Charges for Services 12.4%
Operating Grants
& Contributions 9.8%
Other Revenues 5.5%
Capital Grants
& Contributions 5.4%
2023 Y-T-
Y
Increase/
(Decrease)
Fiscal Year
2023
Fiscal Year
2022
Fiscal Year
2021
Revenues
(254,180)28,289,54728,543,72727,160,222
Charges for Services
18,026,23622,477,8944,451,6588,262,459
Operating Grants &
Contributions
(912,561)
12,222,15813,134,71918,934,716
Capital Grants &
Contributions
10,990,734107,105,41796,114,68389,177,944
Property Taxes
2,535,324
45,644,16543,108,84135,235,200
Other Taxes
8,016,364
12,523,4904,507,1262,456,370
Other Revenues
38,401,917
228,262,671
189,860,754181,226,911
Total County
Revenues
0
50
100
150
200
250
General Total
“We are Public Servants! Our every eort shall be dedicated to protecting and preserving
the Public Trust.”
8
Overall, County Expenses increased by $23.5
million (14.3%) in fiscal year 2023 compared
to the prior year.
Public Safety expense increased $14.2 million
primarily due to an increase in both salaries
and benefits.
General Government expense increased
$6.5 million, primarily due to an increase in
salaries and benefits.
Transportation expenses increased $1.4
million in fiscal year 2023 due to more road
resurfacing projects.
C EC E
Public Safety 44.2%
General Government 18.5%
Transportation 17.0%
Economic
Environment 4.7%
Physical
Environment 4.6%
Court Related 3.0%
Human Services 2.8%
Sewer & Water 2.4%
Culture
& Recreation 2.0%
Interest Expense 0.8%
C E F Y
T-Y C
Sea Turtle Tracks on Amelia Island
2023 Y-T-
Y
Increase/
(Decrease)
Fiscal Year
2023
Fiscal Year
2022
Fiscal Year
2021
Expense
6,494,093
34,825,74428,331,65124,625,283
General Government
197,320
5,583,5875,386,2674,987,940
Court Related
14,228,984
83,103,91668,874,93259,147,820
Public Safety
(1,522,397)
8,608,22710,130,6249,694,197
Physical Environment
1,409,732
31,889,77130,480,03925,223,668
Transportation
1,937,615
8,805,7506,868,1355,510,707
Economic Environment
409,510
5,182,1304,772,6204,578,441
Human Services
224,751
3,846,0693,621,3183,164,970
Culture/Recreation
65,8881,539,370 1,473,482 1,682,236
Interest Expense on
LT Debt
69,052
4,608,7804,539,7284,271,458
Sewer & Water
23,514,548
187,993,344
164,478,796
142,886,720
Total County Expenses
“We are Public Servants! Our every eort shall be dedicated to protecting and preserving
the Public Trust.”
9
TOTAL
09/30/2022
(Restated)
TOTAL
09/30/2023
Business-Type
2023 Activities
Governmental
2023 Activities
REVENUES
46,130,10462,989,5999,789,79853,199,801Program Revenues
143,730,650165,273,072(41,751)165,314,823General Revenues & Transfers
189,860,754228,262,6719,748,047218,514,624Total Revenues
EXPENSES
28,331,65134,825,74434,825,744General Government
5,386,2675,583,5875,583,587Court Related
68,874,93283,103,91683,103,916Public Safety
10,130,6248,608,2278,608,227Physical Environment
30,480,03931,889,77131,889,771Transportation
6,868,1358,805,7508,805,750Economic Environment
4,772,6205,182,1305,182,130Human Services
3,621,3183,846,0693,846,069Culture and Recreation
1,473,4821,539,3701,539,370Interest on Longterm Debt
4,539,7284,608,7804,608,780Water and Sewer
164,478,796187,993,3444,608,780183,384,564Total Expenses
457,861,416483,243,37418,315,096464,928,278
Beginning Net Position
Prior Period Adjustment
483,243,374523,512,70123,454,363500,058,338
Ending Net Position
25,381,958
40,269,3275,139,26735,130,060
Change in Net Position
Nassau County’s revenues exceeded its
expenses in fiscal year 2023, resulting in a surplus
of $40.3 million, compared to a surplus of $25.4
million in fiscal year 2022.
County revenues increased by $38.4 million when
compared to the prior year; Program Revenues
increased $16.9 million including a decrease of
$912,561 in Capital Grants & Contributions and
an increase of $18 million in Operating Grants &
Contributions. Charges for Services had a decrease
of $254,180.
General Revenues increased by $21.5 million in 2023
compared to the prior fiscal year, including an increase
of $11 million in property tax revenue and an increase
of $9.1 million in investment earnings.
County expenses increased by $23.5 million in fiscal
year 2023 when compared to the prior year. The
majority of these expenses were for Public Safety
expenses which increased by $14.2 million. General
Government expenses increased by $6.5 million and
Economic Environment expenses increased by $1.9
million.
As discussed on page 5, the County also uses fund
accounting in order to focus on its cash flows & short-
term financial health. For fiscal year 2023, the County’s
governmental fund revenues exceeded expenditures by
$43.9 million.
N C C S AN C C S A
“We are Public Servants! Our every eort shall be dedicated to protecting and preserving
the Public Trust.”
10
Nassau County’s assets and deferred outflow of
resources exceeded its liabilities and deferred inflows of
resources by $523.5 million (net position) on 09/30/23.
Asset values on 09/30/23 included a $29.1 million increase
in cash and investments when compared to 09/30/22.
The result was a year-to-year increase in total assets of
approximately $45 million (6.8%).
The County’s liabilities grew by $5.1 million, totaling
$205.8 million on 09/30/23. This included a $13.8 million
increase in long-term liabilities primarily due to an
increase in net pension liability of $17.3 million, which
was offset by a $3.5 million decrease in bonds payable.
Payables and other short-term liabilities decreased by
$8.7 million, with a $17.2 million decrease in unearned
revenue due to ARPA grant funding, and a $7.9 million
increase in Accounts Payable.
The County’s financial position and outlook remain
positive, with low unemployment and an upward trend
in recurring revenues supporting Nassau County’s
growth in population, economic output and required
County services.
Deferred Outflow of Resources (DOR)-
a consumption of net assets by the government
that is applicable to a future reporting period.
Deferred Inflowof Resources (DIR)-
an acquisition of net assets by the government
that is applicable to a future reporting period.
Net Position- the difference between what the
County owns (including assets and DOR) and
what the County owes (including liabilities and
DIR).
Condensed Statement of Net Position-
a summary of what the County owns and owes
at the end of each fiscal year.
Condensed Statement of Activities-
a summary of how the County’s net position
changed during the fiscal year which ended on
September 30, 2021.
Governmental Activities- services the County
provides that are mainly paid for with tax dollars,
state and federal grants and revenue sharing.
Business-Type Activities- services where users
pay for most, if not all, of the cost of operations.
Capital Grants- provide support for the
purchase of property, construction of a facility,
remodeling, expansion of a facility or purchase of
equipment.
Operating Grants- provide support for the
day-to-day cost of running an organization.
Program Revenues- money that the County
takes in during the year for a specific program
that reduces how much of its cost has to be paid
for out of general County revenues. Examples
include Charges for Services, Operating Grants
and Capital Grants.
General Revenues- money that the County
receives during the year that is not matched to a
specific program,
including Property
& Sales taxes.
N C C S N PN C C S N P
G F R TG F R T
TOTAL
09/30/2022
TOTAL
09/30/2023
Business-Type
2023 Activities
Governmental
2023 Activities
ASSETS
230,766,044259,854,0525,819,727254,034,325Cash & Investments
7,313, 43917,270,8324,890,96312,379,869Receivables, net
421,487,588427,022,08322,277,462404,744,621Capital assets, net
1,959,9682,388,51451,9502,336,564Other assets
661,527,039706,535,48133,040,102673,495,379Total Assets
34,278,09236,226,437261,48735,964,950Deferred Outflow of Resources
LIABILITIES
33,393,87724,681,4373,899,34620,782,091
Payables & other short
term liabilities
167,347,751181,165,4945,931,613175,233,881
Bonds, notes and other
longterm liabilities
200,741,628205,846,9319,830,959196,015,972Total Liabilities
11,820,12913,402,28616,26713,386,019Deferred Inflows of Resources
483,243,374523,512,70123,454,363500,058,338NET POSITION
“We are Public Servants! Our every eort shall be dedicated to protecting and preserving
the Public Trust.”
11
All Nassau County cash deposits and investments of surplus
funds are made and maintained in accordance with local, state,
and national laws.
The County’s primary investment objective is the protection of
taxpayer funds with the maintenance of adequate liquidity to
meet the County’s cash flow needs, which is a crucial secondary
consideration.
The book value of Nassau County BOCC Cash and Investments
totaled $251,784,393 on 09/30/2023, up $26.9 million compared
to 09/30/2022. A detailed report of income and investments is
available at:
http://www.nassauclerk.com/financial-reports
Nassau County BOCC funds are protected
through a combination of FDIC insurance and
participation in the State of FL Qualied Public
Depository program. e remaining funds are
invested in a AAAf/S1 rated Short-Term Bond
Fund (LGIP) with next day liquidity and Short-
Term US Government Securities.
W N C OW N C O
C IC I
Return
Liquidity
Protection
C AC A
Ribbon Cutting for Nassau Crossing Park
Balance on 09/30/23
:
Land $86,345,818
Construction in Progress 35,040,916
Buildings and Improvements 80,136,297
Machinery & Equipment 76,332,514
Improvements other than Buildings 993,723
Leasehold Improvements 1,040,516
Infrastructure 683,842,826
Leased Assets 864,959
SBITA Assets 976,155
Less: Accumulated Depreciation (538,551,640)
Net Capital Assets $ 427,022,084
45.8%
49.3%
4.9%
PROTECTION
(as of 09/30/23)
US Government Securities LGIP
e County ladders the maturities of its investments to provide adequate liquidity,
improve income predictability, and increase the portfolio return.
0
10
20
30
40
50
60
70
80
90
100
110
120
130
Non-Interest
Checking
Interest Bearing
Checking
Money Market
Deposit Accounts
US Government
Securities
LGIP's
Investment by Type
Millions
$5,108,836
2.03%
$38,704,260
15.37%
$71,402,205
28.36%
$124,228,890
49.34%
$12,340,203
4.90%
“We are Public Servants! Our every eort shall be dedicated to protecting and preserving
the Public Trust.”
12
5
10
15
20
25
2024 2025 2026 2027 2028 2029 2030 2031
Millions
Governmental Bonds Enterprise Bonds
The County’s Municipal Bond Debt Outstanding fell by $3.4 million in fiscal year 2023, reducing the remaining total debt per resident
to $223 and governmental debt per resident to $167.
On August 30, 2023, Fitch affirmed the County’s Public Improvement Revenue Refunding Bonds at AA- and the
County’s Issuer Default Rating (IDR) at AA with a revised rating outlook to Positive from Stable. On March 29, 2023,
Moody’s affirmed the County’s Issuer Rating at Aa2. S&P upgraded the County’s Issuer Rating on April 24, 2023,
from AA to AA+. The benefits of having good credit ratings are lower interest rates, easier approval, and negotiating
power on terms.
W N C OW N C O
S N C M B O ( //)S N C M B O ( //)
S R B ( //)
Scheduled Pay Down of $22.5 Million of Outstanding Debt Principal
S P F Y $26.4 M F D S
(assuming no new debt)
1
2
3
4
5
2024 2025 2026 2027 2028 2029 2030 2031
Millions
Governmental Bonds
Enterprise Bonds
Issue Principal Debt Service Maturity
Description Amount Balance Payments Date
GOVERNMENTAL BONDS
Series 2007 Rev & Refunding Bonds $29,630,000 $15,015,000 $18,584,750 05/01/2031
Series 2000 Optional Gas Tax Rev Bond 6,167,580 1,785,559 1,890,000 03/01/2025
Total Governmental Bonds : $16,800,559 $20,474,750
ENTERPRISE BONDS
Series 2013 Water & Sewer Revenue Bond $15,650,000 $5,660,000 $5,969,384 04/01/2028
Total Enterprise Bonds : $5,660,000 $5,969,384
Total County Municipal Bond Obligations : $22,460,559 $26,444,134
“We are Public Servants! Our every eort shall be dedicated to protecting and preserving
the Public Trust.”
13
Y N C B C CY N C B C C
( J, )( J, )
John F. Martin, Chair
Klynt A. Farmer
A.M. “Hupp” Huppmann, V-Chair
Je Gray
Alyson R. McCullough
cell: (904) 319-0686
ahuppmann@nassaucounty.com
cell: (904) 570-2594
jmartin@nassaucounty.com
cell: (904) 570-1357
kfarmer@nassaucounty.com
cell: (904) 319-0689
amccullough@nassaucounty.com
cell: (904) 570-1946
jgray@nassaucounty.com
D O
F B
D T
S. A I, O’N
N
D T
Y, C, B
D F
C, W Y
D F
H, B, N
O, B, K F
Services provided by
Nassau County include fire
& rescue, recycling, animal
control, road construction
& maintenance, and
building code enforcement.
The County is also
responsible for parks &
recreation management,
operation of public
libraries, maintenance of
County facilities, extension
and health services,
and for water and sewer
services for a portion of
the County.
“We are Public Servants! Our every eort shall be dedicated to protecting and preserving
the Public Trust.”
14
N C B C CN C B C C
D C LD C L
DEPARTMENT
PHONE
County Manager
904-530-6010
Taco Pope – County Manager
Marshall Eyerman – Assistant County Manager
Robert Companion – Deputy County Manager
Sabrina Robertson – Public Information Officer
County Attorney
904-530-6100
Denise May – County Attorney
Abigail F. Jorandby – Assistant County Attorney
Elizabeth Moore – Assistant County Attorney
Animal Care & Control
904-530-6150
Tim Maquire – Director of Animal Servies
Building Department
904-530-6250
Keith Ellis – Building Official
Capital Projects
904-530-6225
Raymond Albury – Capital Projects Management Director
Code Enforcement
904-530-6200
Raymond Lettsome – Code Enforcement Manager
County Extension
904-530-6353
Dr. Taylor Clem – Extension Director
Development Services
904-530-6225
Caleb Hurst – Development Services Director
Emergency Management
904-548-0900
Tim Cooper – Emergency Management Director
Fire Rescue
904-530-6600
Brady Rigdon – Fire Chief
Greg Roland – Assistant Fire Chief
Fire Station 20
904-530-6620
Fire Station 30
904-530-6630
Fire Station 40
904-530-6640
Fire Station 50
904-530-6650
Fire Station 60
904-548-4876
Fire Station 70
904-530-6670
Fire Station 71
904-530-6680
Fire Station 90
904-530-6590
Human Resources
904-530-6075
Ashley Metz – Human Resources Director
Tina Keiter – Employee Services Coordinator
DEPARTMENT
PHONE
Library
904-530-6500
Julie Cannavino – Library Director
Library – Fernandina Beach
904-530-6500
Library – Callahan
904-530-6533
Library – Hilliard
904-530-6544
Library – Bryceville
904-530-6551
Library – Yulee
904-530-6560
Nassau Amelia Utilities
904-530-6030
Office of Management & Budget
904-530-6010
Chris Lacambra – Office of Management & Budget Director
Cindy Wood – Assistant Office of Management & Budget Director
Megan Sawyer – Financial Management & Budget Coordinator
Tracy Poore – Administrative Specialist
Parks and Recreation
904-530-6120
Jay Robertson – Parks & Recreation Director
Planning Department
904-530-6320
Elizabeth Backe – Planning Director
Procurement & Contracts Management
904-530-6040
Lanaee Gilmore – Procurement Director
Public Works
904-530-6120
Douglas Podiak – Public Works Director
Records Management
904-530-6090
Amber Jordan – Records Management Liaison Officer
Risk Management
904-530-6106
Road Department
904-530-6175
Darren Marsh – Interim Road Director
Solid Waste
904-530-6700
Lynn Diden – Solid Waste Division Manager
Stormwater Drainage
904-530-6390
Katie Peay – Stormwater Director
Strategic Advancement
904-530-6010
Brandy Carvalho – Director of Strategic Advancement
Technical Services
904-530-6050
Derrick Lindsay – Chief Innovation Officer
Norm Kennedy – Network and Security Manager
Corey Poore – Systems Manager
“We are Public Servants! Our every eort shall be dedicated to protecting and preserving
the Public Trust.”
15
John A. Crawford
Clerk of the Circuit Court and Comptroller
Ph (904) 548-4600
(800) 958-3496
www.nassauclerk.com
County Comptroller
The Clerk’s responsibilities as County Comptroller and
“fiscal watchdog” include those of Chief Financial Officer
(CFO), Treasurer, and Auditor of County funds.
The Clerk’s office derives its authority from the Florida
State Constitution and Florida law, and is designed to
provide an impartial check and balance on how citizens’ tax
dollars are spent and reported.
As CFO, the Clerk monitors the Nassau County budget,
revenues, expenses, and debt. Additionally, the Clerk’s
office pays County bills, maintains financial records, and
produces required financial reports and statements.
As Auditor, additional responsibilities include oversight
of independent internal and external audits of financial
operations, policies, procedures and statements.
The Clerk’s Treasury responsibilities include the investment
and safeguarding of County funds.
Clerk of the Circuit and County Courts
Among the Clerk’s duties within this role are the filing of official documents, and processing payments
for fines, victim’s restitution, child support and alimony. Also, the office attends courtroom sessions,
conducts foreclosure sales, issues marriage licenses and oversees jury orientations.
County Recorder
The Clerk’s duties as County Recorder include processing mortgages, liens, and deeds and indexing
these documents for future search and retrieval.
Ex-Officio Clerk to the Board
As the official custodian of the Board of County Commissioners’ records, the Clerk is responsible for
preparing and preserving the minutes for their meetings as well as for other County events.
R CR C
“We are Public Servants! Our every eort shall be dedicated to protecting and preserving
the Public Trust.”
16
O N C C OO N C C O
Bill Leeper
Sheri
Janet H. Adkins
Supervisor of Elections
A. Michael Hickox
Property Appraiser
John M. Drew
Tax Collector
Services provided at
the Tax Collector’s
Office include
issuing driver
licenses, vehicle
registrations,
hunting and
fishing licenses and
collecting property
tax payments.
There are four
locations in Nassau
County, including
branches in
Callahan, Hilliard,
and at the Historic
Courthouse in
Fernandina Beach.
The main office
in Yulee includes
a drive-through
window.
Ph (904) 491-7400
(866) 815-4690
www.nassautaxes.com
The Sheriff ’s Office
is responsible for
defending the
Constitution of the
U.S. and Florida,
enforcing all laws,
and bringing to
justice those who
violate them.
Their mission is
also to improve the
quality of life for its
citizens by reducing
crime through
a dedicated
partnership
with the
community.
Ph (904) 548-4009
(855) 725-2630
www.nassauso.com
The Supervisor of
Elections Office
is responsible
for conducting
secure elections,
maintaining
accurate registration
records, providing
voter education,
encouraging voter
participation,
and judiciously
expending taxpayer
dollars.
Their mission
includes providing
exceptional service
to the citizens of
Nassau County,
focusing on a strong
team effort and
working for the
good of all.
Ph (904) 491-7500
(866) 260-4301
www.votenassau.gov
It is the statutory
responsibility
of the Property
Appraiser’s office
to list and appraise
all properties
within the County
every year and
to administer
exemptions.
Their commitment
is to execute
these duties and
responsibilities in
a fair and equitable
manner, and
provide accurate
information
and courteous,
professional
assistance to all
who ask for it.
Ph (904) 491-7300
(888) 615-4398
www.nassaupa.com
“We are Public Servants! Our every eort shall be dedicated to protecting and preserving
the Public Trust.”
17
John A. Crawford
Clerk of the Circuit Court and Comptroller
www.nassauclerk.com
Nassau County Historic Courthouse Center
416 Centre Street
Fernandina Beach, FL 32034
Ph (904) 491-6430
Robert M. Foster Justice Center
76347 Veterans Way
Yulee, FL 32097
Ph (904) 548-4600
(800) 958-3496
“We are Public Servants!
Our every eort shall be dedicated to
protecting and preserving the Public Trust.”
