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AN N UAL CO M PR EH ENSI V E FINANCIAL REPORT FISCAL YEAR ENDED SEPTEMBER 30, 2025

City of Coral Springs, Florida Annual Comprehensive Financial Report Fiscal Year Ended September 30, 2025

PREPARED BY THE DEPARTMENT OF FINANCIAL SERVICES

CITY OF CORAL SPRINGS, FLORIDA Annual Comprehensive Financial Report Fiscal year ended September 30, 2025

PREPARED BY THE DEPARTMENT OF FINANCIAL SERVICES DIRECTOR OF FINANCIAL SERVICES…..KIM MOSKOWITZ ASSISTANT DIRECTOR OF FINANCIAL SERVICES…..MELISA GUERIN

CITY OF CORAL SPRINGS, FLORIDA COMMISSION-MANAGER FORM OF GOVERNMENT

CITY COMMISSION MAYOR

SCOTT BROOK

VICE MAYOR

NANCY METAYER

COMMISSIONER

SHAWN CERRA

COMMISSIONER

JOSEPH MCHUGH

COMMISSIONER

JOSHUA SIMMONS

CITY MANAGER CATHERINE GIVENS CITY ATTORNEY

JOHN J. HEARN

CITY CLERK

GEORGIA ELLIOTT FINANCIAL SERVICES

DIRECTOR OF FINANCIAL SERVICES

KIM MOSKOWITZ

ASSISTANT DIRECTOR OF FINANCIAL SERVICES

MELISA GUERIN

Table of Contents Introductory Section (unaudited) Letter of Transmittal Certificate of Achievement for Excellence in Financial Reporting Organizational Chart List of Principal Officials Financial Section Independent Auditors’ Report Management’s discussion and analysis (Unaudited) Basic financial statements: Government-wide financial statements: Statement of net position Statement of activities Fund financial statements: Governmental funds: Balance sheet Reconciliation of the balance sheet of governmental funds to the statement of net position Statement of revenue, expenditures and changes in fund balances Reconciliation of the statement of revenue, expenditures and changes in fund balances of governmental funds to the statement of activities Proprietary funds: Statement of net position Statement of revenue, expenses and changes in net position Statement of cash flows Fiduciary funds: Statement of net position Statement of changes in net position Notes to financial statements

i v vi vii 1–3 4 – 19 20 – 21 22 – 23 24 25 26 27 28 – 29 30 31 – 32 33 34 35 – 89

Required supplementary information (Unaudited): Schedule of revenue, expenditures, other financing sources (uses) and changes in fund balances – budget and actual (budgetary basis) – General Fund Schedule of revenue, expenditures, other financing sources (uses) and changes in fund balances – budget and actual (budgetary basis) – Fire Special Revenue Fund Schedule of changes in the net pension liability and related ratios Schedule of contributions Schedule of investment returns (losses) Schedule of changes in the net OPEB liability and related ratios – Employer Reporting Schedule of City contributions – OPEB – Employer and Plan Reporting Schedule of changes in the net OPEB liability and related ratios – Plan Reporting Schedule of investment returns – OPEB – Plan Reporting Notes to required supplementary information

91 92 – 97 98 – 100 101 102 103 104 105 106 – 107

Supplementary Information: Combining and individual fund statements and schedules: Nonmajor special revenue, debt service, and capital projects funds: Combining balance sheet Combining statement of revenue, expenditures and changes in fund balances

108 – 112 113 – 117

Table of Contents Financial Section (Continued) Schedules of revenue, expenditures and changes in fund balances –budget and actual (budgetary basis): Charter School – Nonmajor Museum of Art – Nonmajor Public Art Special Revenue Fund – Nonmajor Debt Service Fund – Nonmajor Nonmajor Enterprise Funds: Combining statement of net position Combining statement of revenues, expenses and changes in net position Combining statement of cash flows Water and Sewer Fund – Schedule of revenue, expenses and other financing sources (uses) (budgetary basis) compared to budget Stormwater Fund – Schedule of revenue, expenses and other financing sources (uses) (budgetary basis) compared to budget Solid Waste Fund – Schedule of revenue, expenses and other financing sources (uses) (budgetary basis) compared to budget Internal Service Funds: Combining statement of net position Combining statement of revenue, expenses and changes in fund net position Combining statement of cash flows Self-Insurance Fund – Schedule of revenue and expenses (budgetary basis) compared to budget Equipment Services Fund – Schedule of revenue and expenses (budgetary basis) compared to budget Fiduciary Funds: Combining statement of net position Combining statement of changes in net position

118 119 120 121 122 123 124 – 125 126 127 128 129 130 131 – 132 133 134 135 136

Statistical Section (unaudited) Government-wide information: Table 1 – Net position by component Table 2 – Changes in net position Fund information: Table 3 – Fund balances, governmental funds Table 4 – Changes in fund balances, governmental funds Table 5 – Tax revenues by source, governmental funds Table 6 – Total taxable assessed value as a percentage of estimated total fair market value Table 7 – Direct and overlapping property tax rates Table 8 – Principal property taxpayers Table 9 – Property tax levies and collections Table 10 – Water sold by type of customer Table 11 – Water and sewer rates Table 12 – Ratios of outstanding debt by type Table 13 – Ratios of general bonded debt outstanding Table 14 – Direct and overlapping governmental activities debt Table 15 – Legal debt margin information

137 – 138 139 – 142 143 – 144 145 – 146 147 148 – 149 150 – 151 152 153 154 – 155 156 157 – 158 159 160 161

Table of Contents Table 16 – Pledged-revenue coverage Table 17 – Demographic and economic statistics Table 18 – Principal employers Table 19 – Full-time equivalent city government employees by function Table 20 – Operating indicators by function Table 21 – Capital asset statistics by function

162 163 164 165 166 – 167 168 – 169

Compliance Section Independent Auditors’ Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards Independent Auditors’ Report on Compliance for Each Major Federal Program and Report on Internal Control Over Compliance for Federal Awards Required by the Uniform Guidance Schedule of Expenditures of Federal Awards Schedule of State Financial Assistance Notes to Schedules of Expenditures of Federal Awards and State Financial Assistance Schedule of Findings and Questioned Costs Summary Schedule of Prior Years’ Findings

170 – 171 172 – 174 175 176 177 178 – 179 180

April 10, 2026 Honorable Mayor, City Commissioners, City Manager and Citizens City of Coral Springs, Florida I am pleased to submit the Annual Comprehensive Financial Report (“ACFR”) of the City of Coral Springs, Florida (the “City”), for the fiscal year ended September 30, 2025. Both state law and local ordinances require that the City issue annually a report on its financial position and activities, and that an independent firm of certified public accountants audit this report. Responsibility for both the accuracy of the data, and the completeness and fairness of the presentation, including all disclosures, rests with the City. The City operates under a system of accounting internal controls that are concerned with the safeguarding of assets and the reliability of financial records. The definition of accounting control assumes reasonable, but not absolute, assurance that the objectives expressed in it will be accomplished by the system. The concept of reasonable assurance recognizes that the cost of internal controls should not exceed the benefits expected to be derived. RSM US LLP, independent auditors, has issued an unmodified opinion on the City of Coral Springs’ financial statements for the fiscal year ended September 30, 2025. The independent auditor’s report is located at the front of the financial section of this report. As a recipient of federal, state, and county financial assistance, the City is subject to an annual single audit in conformity with the provisions of the Office of Management and Budget (OMB) issued Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance or Guidance), and Chapter 10.550, Rules of the Auditor General of the State of Florida. Information related to the Single Audit, including the schedule of expenditures of federal awards and schedule of state financial assistance, findings and recommendations, and the auditor’s reports on the internal control and compliance with applicable laws and regulations, are included in the Single Audit section. Generally Accepted Accounting Principles (GAAP) require that management provide a narrative introduction, overview and analysis to accompany the basic financial statements in the form of Management’s Discussion and Analysis (MD&A). This letter of transmittal is designed to complement the MD&A and should be read in conjunction with it. The City’s MD&A can be found immediately following the independent auditor’s report. Profile of the City The City was incorporated on July 10, 1963, and is located in northwestern Broward County, Florida. It encompasses 23.93 square miles and has a population of approximately 136,000, making it the fifth-largest city in Broward County. The City operates under a Commission-Manager form of government, including five elected officials (the Mayor and four Commissioners). The Mayor is elected at-large on a non-partisan basis for a two-year term. The Commissioners are elected at-large on a non-partisan basis for four-year terms. The City Commission determines policy, adopts legislation, and approves the City’s annual budget. The City Commission also appoints the City Manager who, as the Chief Administrative Officer, is charged with the responsibility of enforcing all ordinances and resolutions passed by the City Commission.

The City provides the following full range of municipal services authorized by its Charter: public safety, streets, sanitation, stormwater, culture, education through its Charter School, recreation, public improvements, planning and zoning, water and sewer, and general administrative services. This report includes all the funds of the City. The City has one component unit, the Community Redevelopment Agency (CRA), which is shown as a separate discrete component unit. The City maintains budgetary controls. The objective of these controls is to ensure compliance with legal provisions embodied in the annual budget adopted by the City Commission. Activities of the General Fund, Fire Fund, Charter School Fund, Debt Service Fund, Museum of Art Fund, Public Art Fund, Water and Sewer Fund, Stormwater Fund and Solid Waste Fund are included in the annual budget. Project-length financial plans are adopted for the Capital Projects Funds and the Special Revenue Grants Fund. The legal level of control (the level at which actual expenditures and transfers out cannot legally exceed the “budget” appropriations) is maintained at the fund level. The City also maintains an encumbrance accounting system as one method of maintaining budgetary control. Encumbered accounts lapse at year-end for the General Fund and Special Revenue Funds. Local Economy The City’s healthy financial position can be attributed to our long-term financial planning that identifies emerging issues which may affect our ability to provide the level and type of service our customers expect. A key component to building a stronger, more vibrant future for the City of Coral Springs is the expansion of the commercial tax base. The tax base continues to grow due to new commercial entities as well as key residential development projects currently underway. Coral Springs is home to over 6,000 active businesses ranging from the self-employed to major corporate headquarters. The City has a strong industry base in the financial and professional services sector, especially in fintech and insurtech. Logistics, distribution, and healthcare/life sciences are strong sectors as well. Major retailers and businesses are investing in the city. Within the commercial sector, CTS Engines opened in the Coral Springs Commerce Park at the Osprey Logistics Park which includes over 400K square feet of industrial space. They have created over 400 jobs in the aerospace sector and continue to grow. PepsiCo also opened a distribution center in the Commerce Park. As for retail and restaurants, Nordstrom Rack, Eddie & Vinny’s, Veranda Kitchen, Flora’s Italian Eatery and Jet Set Pilates opened with Gary Rack’s Farmhouse Kitchen, Big Whiskey’s, Ember and Vine and many others planned for 2026. The City’s commitment to the redevelopment of Downtown Coral Springs continues with all three corners currently undergoing construction or site development. Modera at Cornerstone is almost fully occupied. The north block of Cornerstone welcomed its first residents at the end of 2025. The northwest quadrant of the city’s downtown, known as City Village, is a project by Amera Downtown Development. Plans include retail, residential, restaurants and entertainment. The northeast corner is also a mixed-use project with 12,000 square feet of commercial space. The redevelopment within the downtown area will enhance the tax base in the city as well as the quality of life and sense of place for residents, businesses and visitors. With a healthy housing market, new residential development underway, and an energized commercial sector, developing, growing, and further diversifying the economic base will provide a more solid foundation to withstand future economic downturns.

Long-Term Financial Planning and Relevant Financial Policies The City continues to plan for short-term and long-term financial situations. The current financial planning has proven resourceful in identifying emerging issues that may affect the ability to provide the level and type of service the community has come to expect. The City adapts to rapidly changing conditions to afford our current infrastructure and maintain operations. The City’s financial status remains positive as seen through the high investment grade “AAA” bond rating with Fitch and Standard & Poor’s. The AAA rating is the highest bond rating and reflects our exceptional financial capacity to address challenges associated with economic fluctuations. The budget team prepared for fiscal year 2026 by monitoring how the county, state, and nation have been performing economically. According to the Office of Economic and Demographic Research (EDR), the state’s economy expanded by 4.5% in fiscal year 2024, but growth is expected to decelerate in the following fiscal years as monetary tightening continues. One measure for assessing the economic health of states is the year-to-year change in real Gross Domestic Product (GDP), that is, all goods and services produced or exchanged within a state. Buffeted by a series of economic shocks, Florida’s GDP dipped to near zero (0.4%) in fiscal year 2020, bounced back to 4.7% in fiscal year 2021, and surged to 7.0% in fiscal year 2022, more than double the pre-pandemic year growth rate and exceeding the prior peak growth rate of 6.6% in fiscal year 2005. The state’s economy expanded by a strong 4.4% in fiscal year 2023 and 4.5% in fiscal year 2024, but growth is expected to decelerate to 2.1% and 1.9% over the current and next fiscal year as the Federal Reserve transitions from a high inflation / high-interest rate environment to more normal conditions. Real GDP increased 4.3% in the third quarter of 2025. The increase in real GDP in the third quarter reflected increases in consumer spending, exports, and government spending that were partly offset by a decrease in investment. Imports, which are a subtraction in the calculation of GDP, decreased. Florida’s statewide unemployment was 4.2% in November 2025, consistently below the national average, outperforming the U.S. rate of 4.6% in November 2025. According to U.S. Census data, Florida’s population grew by 2.69 million or 14.1% between 2010 and 2020 and is expected to continue the trend of higher median home prices and lower inventories of existing homes. The City of Coral Springs continues to experience an increase in population count, emphasizing growth through relocation and expansion. Major Initiatives The input and priorities provided by the residents and business community, especially through the comprehensive, year-long community engagement effort called Visioning 2035, played a role in establishing upcoming initiatives. The City intends to maintain high-quality service delivery despite economic pressures, continue funding for citywide replacement plans including neighborhood park enhancements and additional artificial turf fields, and strengthen cybersecurity and IT systems to ensure operational resilience and protection of city assets. The enhanced Kiwanis Community Center will open soon, which will support expanded programming, staffing, and facilities for seniors and multi-generational engagement.

iii

Investing in aesthetics will be evident through the addition of a part-time landscape maintenance specialist, a full-time architect/urban designer, and the reinstatement of the Street Tree Program, all of which contribute to a more beautiful, inviting community environment. Awards and Acknowledgements The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Coral Springs for its Annual Comprehensive Financial Report for the fiscal year ended September 30, 2024. This was the forty-sixth consecutive year the City has received this prestigious award. To be awarded a Certificate of Achievement, the City must publish an easily readable and efficiently organized Annual Comprehensive Financial Report. This report must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year. We believe that our current ACFR continues to meet the Certificate of Achievement program’s requirements, and we are submitting it to the GFOA to determine its eligibility for another certificate. In addition, the City also received the GFOA Award for Distinguished Budget Presentation for the City’s budget for the fiscal year ended September 30, 2024. It was the thirty-fourth consecutive year the City received the award for the document, which serves as the City’s primary fiscal policy document. The preparation of this report would not have been possible without the efficient and dedicated service of the entire staff of the Department of Financial Services. Appreciation is also extended to all employees throughout the City who assisted and contributed to the preparation of this report. In closing, due credit should also be given to the City Commission and City Management for their interest and support in planning and conducting the operations of the City in a responsible and progressive manner. Respectfully submitted,

Director of Financial Services

CITY OF CORAL SPRINGS ORGANIZATION CHART

CITY OF CORAL SPRINGS, FLORIDA List of Principal Officials September 30, 2025 Title

Name

Mayor

Scott Brook

Vice Mayor

Nancy Metayer

Commissioner

Shawn Cerra

Commissioner

Joseph McHugh

Commissioner

Joshua Simmons

City Manager

Catherine Givens

Deputy City Manager

Julie Krolak

Deputy City Manager

Brad McKeone

Deputy City Manager

Dale Pazdra

City Attorney

John J. Hearn

City Clerk

Georgia Elliott

Director of Arts and Cultural Enrichment

Michael McNally

Director of Budget and Sustainability

Ileana Kyriakides

Director of Building

Alex Hernandez

Director of Development Services

Tina Jou

Director of Economic Development

Kristi Bartlett

Director of Financial Services

Kim Moskowitz

Director of Human Resources

Kathy Reul

Director of Information Technology

Stephen Dyer

Director of Parks and Recreation

Robert Hunter

Director of Public Works

Chad Maraj

Education Officer in Communications and Intergovernmental Affairs

April Wyche

Executive Director of Communications and Intergovernmental Affairs

Lynne Martzall

Fire Chief

John Whalen

Police Chief

Brad Mock

vii

Independent Auditor’s Report Honorable Mayor and Members of the City Commission City of Coral Springs, Florida Report on the Audit of the Financial Statements Opinions We have audited the financial statements of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the City of Coral Springs, Florida (City), as of and for the year ended September 30, 2025, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements as listed in the table of contents. In our opinion, based on our audit and the reports of the other auditors, the accompanying financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the City, as of September 30, 2025, and the respective changes in financial position, and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. We did not audit the financial statements of the City of Coral Springs Firefighters’ Retirement Plan and the City of Coral Springs Police Officers’ Pension Plan, which represent 69%, 71% and 42%, respectively, of the assets, net position/fund balances, and revenues/additions of the aggregate remaining fund information as of September 30, 2025. Those statements were audited by other auditors whose reports has been furnished to us, and our opinions, insofar as it relates to the amounts included for the City of Coral Springs Firefighters’ Retirement Plan and the City of Coral Springs Police Officers’ Pension Plan, are based solely on the reports of the other auditors. Basis for Opinions We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States (Government Auditing Standards). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City, and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Emphasis of Matter As discussed in Note 18 to the basic financial statements, the City adopted the recognition and disclosure requirements of Governmental Accounting Standards Board Statement No. 101, Compensated Absences, as of October 1, 2024. As a result of the adoption, the City restated certain beginning net position and compensated absence balances. Our opinions are not modified with respect to this matter.

Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for 12 months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter. Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS and Government Auditing Standards, we

 Exercise professional judgment and maintain professional skepticism throughout the audit.  Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

 Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, no such opinion is expressed.

 Evaluate the appropriateness of accounting policies used and the reasonableness of significant

accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

 Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that

raise substantial doubt about the City’s ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.

Required Supplementary Information Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis, budgetary comparison information, and other post-employment benefits and pension related schedules, as listed in the table of contents, be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We and other auditors have applied certain limited procedures to the required supplementary information in accordance with GAAS, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Supplementary Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The combining and individual nonmajor fund financial statements and schedules are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with GAAS. In our opinion, the combining and individual nonmajor fund financial statements and schedules are fairly stated, in all material respects, in relation to the basic financial statements as a whole. Other Information Management is responsible for the other information included in the annual comprehensive financial report. The other information comprises the introductory and statistical sections but does not include the basic financial statements and our auditor’s report thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated April 10, 2026, on our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering City’s internal control over financial reporting and compliance.

Fort Lauderdale, Florida April 10, 2026

City of Coral Springs, Florida Management’s Discussion and Analysis (Unaudited) As management of the City of Coral Springs, Florida (the “City”), we offer readers of the City’s financial statements this narrative overview and analysis of the financial activities of the City for the fiscal year ended September 30, 2025. Since the management’s discussion and analysis (“MD&A”) is designed to focus on the current year’s activities, resulting changes and current known facts, please read it in conjunction with the transmittal letter and the City’s financial statements. Financial Highlights 

The assets and deferred outflows of the City exceeded its liabilities and deferred inflows at the close of fiscal year 2025 by approximately $371,760,000 (net position). Of this amount, approximately $107,915,000 (unrestricted net position) may be used to meet the City’s ongoing obligations to citizens and creditors.



The City’s total net position increased by approximately $36,635,000 or 10.9% in comparison to the prior year. The net increase was a result of an increase in governmental activities of $31,672,000, an increase in the business-type activities of $4,964,000 and a reduction of $5,875,000 due to the implementation of GASB 101, Compensated Absences. The City’s net position increased as a result of this year’s operations.



At the end of the current fiscal year, fund balance for the General Fund was approximately $66,426,000 or 40.0% of total General Fund expenditures. Of this balance, $35,717,000 has been committed to the City’s stabilization fund, $3,172,000 has been assigned to the computer replacement program, $6,106,000 has been assigned to facilities replacement, $10,088,000 has been assigned to parks replacement, $4,745,000 has been assigned to subsequent years’ expenditures, $823,000 is classified as nonspendable and $2,275,000 is classified as unassigned.



The City’s business-type activities reported total net position of approximately $87,648,000, which is a $4,964,000 or 6.0% increase in comparison to the prior year net position after an adjustment of $147,000 due to the implementation of GASB 101, Compensated Absences. Approximately $34,494,000 or 39.4% is unrestricted and may be used to meet the City’s ongoing obligations to citizens and creditors.



The City’s total debt, before premiums, decreased by approximately $7,547,000 million or 9.1%. This decrease was due to current year principal payments.

Overview of the Financial Statements This financial section of the annual comprehensive financial report consists of the following: independent auditor’s report, management’s discussion and analysis (this section), the basic financial statements, required supplementary information and a section that presents combining and individual fund statements and schedules. The basic financial statements include the following two kinds of statements that present different views of the City: 

Within the government-wide financial statements, there are two statements that provide both long-term and short-term information about the City’s overall financial status.



The fund financial statements focus on individual parts of the City government, reporting the City’s operations in more detail than the government-wide statements. o

The Governmental Fund statements tell how general government services, such as public safety, were financed in the short-term, as well as what remains for future spending.

Proprietary Fund statements offer short-term and long-term financial information about the activities within the government that operate like a business, such as the water and sewer utility operations. 4

City of Coral Springs, Florida Management’s Discussion and Analysis (Unaudited) o

Fiduciary Fund statements provide information about the financial relationships in which the City acts solely as a trustee or agent for the benefit of others, to whom the resources in question belong (such as the retirement plans for the City’s employees).

The financial statements also include notes that explain some of the information in the financial statements and provide more detailed data. The statements are followed by a section of required supplementary information that explains and supports the information in the financial statements. The figure below shows how the required parts of this annual report are arranged and relate to one another. In addition to these required elements, we have included a section with combining statements that provide details about nonmajor governmental and proprietary funds, each of which are added together and presented in a single column in the basic financial statements. Combining statements are also presented for the Fiduciary Funds. Individual Internal Service Funds statements are also included, reflecting balances prior to their elimination from the government-wide financial statements, to avoid a “doubling-up” effect within the governmental and business-type activities columns of said statements. Required Components of the City’s Annual Comprehensive Financial Report

Management’s Discussion and Analysis

Basic Financial Statements

Required Supplementary Information

Government-wide Financial Statements

Fund Financial Statements

Notes to the Financial Statements

Summary

Detail

City of Coral Springs, Florida Management’s Discussion and Analysis (Unaudited) Government-wide Financial Statements The government-wide financial statements are designed to provide readers with a broad overview of the City’s finances in a manner similar to a private-sector business. The statement of net position presents information on all of the City’s assets/deferred outflows and liabilities/deferred inflows with the difference between the two reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the City is improving or deteriorating. The statement of activities presents information showing how the City’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenue and expenses are reported in this statement from some items that will only result in cash flows in future fiscal periods (for example, uncollected taxes and compensated absences). Both of the government-wide financial statements distinguish functions of the City that are principally supported by taxes and intergovernmental revenue (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). The governmental activities of the City include general government, police, fire, parks and recreation, public works, development services and educational and cultural programs. The business-type activities of the City include water and sewer utility services, stormwater services and solid waste services. The government-wide financial statements include not only the City (the primary government), but also the Community Redevelopment Agency (“CRA”). Financial information for the CRA component unit is discretely presented and is reported in a separate column in the government-wide financial statements to emphasize that it is legally separate from the primary government. In addition, the City has three separate single-employer defined benefit plans, an Other Post-Employment Benefits (OPEB) Trust Fund, seven defined contribution plans for general employees and City management under contract with the Mission Square, for which the City acts as an agent for participants, and a defined contribution plan for City commissioners. The pension plans are reported as Fiduciary Funds in the fund financial statements of this report but are not included in the government-wide statements. Fund Financial Statements A fund is a grouping of related accounts that are used to maintain control over resources that have been segregated for specific activities or objectives. The City, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. These statements focus on individual parts of the City government, reporting the City’s operations in more detail than the government-wide statements. All of the funds of the City can be divided into three categories: governmental funds, proprietary funds and fiduciary funds. Governmental Funds Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government’s near-term financing requirements.

City of Coral Springs, Florida Management’s Discussion and Analysis (Unaudited) Because the focus of governmental funds is narrower than the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the City’s near-term financing decisions. The Governmental Fund balance sheet and the Governmental Fund statement of revenue, expenditures and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. The City maintains several individual governmental funds. Information is presented separately in the Governmental Fund balance sheet and in the Governmental Fund statement of revenue, expenditures and changes in fund balances for the General Fund, the Fire Fund and the General Capital Projects Fund which are major funds. Data from the other governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these nonmajor governmental funds is provided in the Combining and Individual Fund Statements and Schedules section. Proprietary Funds The City maintains the following two different types of proprietary funds:  Enterprise Funds – These funds are used to report the same functions presented as business-type activities in the government-wide financial statements. The City uses Enterprise Funds to account for its water and sewer, stormwater, and solid waste operations.  Internal Service Funds – These funds are used to accumulate and allocate costs internally among the City’s various functions. The City uses Internal Service Funds to account for its self-insurance and equipment services operations. Because both services predominantly benefit governmental rather than business-type functions, they have been included within governmental activities in the government-wide financial statements. Proprietary Funds provide the same type of information as the government-wide financial statements, only in more detail. Internal Services Funds are aggregated and presented in a single column. A statement of cash flows is presented at the fund financial statement level for Proprietary Funds, but no equivalent statement is presented in the government-wide financial statements for either governmental activities or business-type activities. Fiduciary Funds Fiduciary Funds are used to account for resources held for the benefit of parties outside the City. Fiduciary Funds are not reflected in the government-wide financial statements because the resources of those funds are not available to support the City’s own programs. The accounting used for Fiduciary Funds is much like that used for Proprietary Funds. Notes to the Financial Statements The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements.

City of Coral Springs, Florida Management’s Discussion and Analysis (Unaudited) Other Information In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information concerning the City’s progress in funding its obligation to provide pension benefits to its employees. This section also includes a comparison between the City’s General Fund’s adopted and final budget and actual financial results. Although the City adopts an annual appropriated budget for its General Fund, Fire Special Revenue Fund, Charter School Special Revenue Fund, Museum of Art Special Revenue Fund, Public Arts Special Revenue Fund, Debt Service Fund, Internal Service Funds and Enterprise Funds, a budgetary comparison schedule has been provided only for the General Fund and Fire Special Revenue Fund in this section. The budgetary comparison schedules for the other funds can be found in the supplementary information section of the ACFR. Combining and individual fund statements referred to earlier in connection with nonmajor governmental funds, proprietary funds and fiduciary funds are presented immediately following the required supplementary information. Government-wide Financial Analysis The two government-wide financial statements report the City’s net position and how it has changed. Net position— the difference between the City’s assets and deferred outflows and the City’s liabilities and deferred inflows—is one way to measure the City’s financial health and position. There are six basic transactions that will affect the comparability of the Statement of Net Position summary presentation as reflected below: 1.

Net results of activities could impact (increase/decrease) current assets and unrestricted net position.

Borrowing for capital will increase noncurrent assets and long-term debt.

Spending borrowed proceeds on new capital assets will reduce noncurrent assets and increase capital assets.

Spending of nonborrowed current assets on new capital assets will reduce current assets and increase capital assets and will reduce unrestricted net position and increase net investment in capital assets.

Principal payment on debt will reduce current assets and reduce long-term debt and reduce unrestricted net position and increase net investment in capital assets.

Reduction of capital assets through depreciation will reduce capital assets and net investment in capital assets.

City of Coral Springs, Florida Management’s Discussion and Analysis (Unaudited) Summary Statement of Net Position The following schedule presents a Summary Statement of Net Position of the City as of September 30, 2025 and 2024: Summary Statement of Net Position September 30, 2025 and 2024

Current and other assets Capital and right-to-use assets Total assets

Governmental Activities 2025 2024 ** 255,818,711 $ 240,220,813 237,200,640 218,336,104 493,019,351 458,556,917

Business-Type Activities 2025 2024 ** 44,191,504 $ 38,121,631 59,227,168 61,697,537 103,418,672 99,819,168

Total 2025 300,010,215 296,427,808 596,438,023

Total 2024 ** 278,342,444 280,033,641 558,376,085

Deferred outflows of resources

43,962,596

77,296,824

476,420

490,389

44,439,016

77,787,213

Long-term liabilities outstanding Other liabilities Total liabilities

140,903,993 28,543,496 169,447,489

189,019,563 32,061,643 221,081,206

11,131,329 4,077,778 15,209,107

12,382,183 4,203,777 16,585,960

152,035,322 32,621,274 184,656,596

201,401,746 36,265,420 237,667,166

Deferred inflows of resources

83,422,506

68,061,069

1,037,936

1,185,921

84,460,442

69,246,990

Net position: Net investment in capital assets Restricted Unrestricted Total net position

169,197,002 41,494,013 73,420,937 284,111,952

143,994,283 26,265,379 76,451,804 246,711,466

49,884,103 3,270,370 34,493,576 87,648,049

51,000,592 3,137,294 28,399,790 82,537,676

219,081,105 44,764,383 107,914,513 371,760,001

194,994,875 29,402,673 104,851,594 329,249,142

**The fiscal year 2024 balances were restated for the implementation of GASB 101, Compensated Absences. The total net position of the City increased in fiscal year September 30, 2025. Over time, net position may serve as a useful indicator of a government’s financial position. In the case of the City, assets and deferred outflows of resources exceeded liabilities and deferred inflows of resources by $371.8 million. The total net position of the City increased by $42.5 million or approximately 12.9% from a restated balance of $329.2 million in 2024 to $371.8 million in September 30, 2025. The increase of $21.7 million in the City’s current and other assets is due primarily to an increase in cash and net pension asset for the firefighters’ pension. The decrease in deferred outflows of resources of approximately $33.3 million is primarily due to the differences between projected actual earnings on investments and assumption changes used in the calculation of the pension liability for the Police and Fire Pension Plans. The decrease in long-term liabilities of approximately $43.5 million is due primarily to decreases in the City’s pension liabilities and payments on the City’s long-term debt. The increase in deferred inflows of resources of approximately $15.2 million is primarily due to an increase in the net difference in projected and actual earnings on investments used in the calculation of the net pension liability.

City of Coral Springs, Florida Management’s Discussion and Analysis (Unaudited) The largest portion of the City’s net position, $219.1 million or 58.9% reflects its investment in capital assets (for example: land, land improvements, public art, buildings, infrastructure, equipment and construction in progress) less any related debt used to acquire these assets that is still outstanding. The City uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. Although the City’s investment in its capital assets is reported net of related debt, the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities. Restricted net position in the amount of $44.8 million or 12.0% is reported separately to show legal constraints from covenants and enabling legislation. The remaining balance of unrestricted net position of $107.9 million or 29.1% may be used to meet the City’s ongoing obligations to citizens and creditors and is designated in the financial policies and strategies. The City reported positive balances in all reported categories of net position, both for the government as a whole, as well as for its separate governmental and business-type activities. The same situation held true for the prior fiscal year. Summary of Changes in Net Position The following information is presented to assist the reader in understanding the different types of normal impacts that can affect revenue: 1.

Economic condition can reflect a declining, stable or growing environment and has an impact on property, non-ad valorem assessments, sales or other tax revenue as well as consumer spending habits for building permits, user fees and consumption.

The City Commission has the authority to set increases or decreases in the City’s rates such as water, sewer, permitting, impact fees, user fees and certain taxes.

Changing patterns in intergovernmental and grant revenue (both recurring and nonrecurring) can change and impact the annual comparisons.

Market impacts on investment income may cause investment revenue to fluctuate from year to year.

Introduction of new programs can have an impact on property, non-ad valorem assessments, sales or other tax revenue as well as consumer spending habits for building permits, user fees and consumption. Some other impacts on expenses are as follows: 1.

Changes in service demand levels can cause the City to increase or decrease authorized staffing. Staffing costs (salaries and related benefits) represent approximately 70% of the City’s operating costs.

Salary increases such as performance increases and market adjustments can impact personal service costs.

While inflation appears to be modest, the City is a consumer of certain commodities such as supplies, fuels and parts. Some functional expenses may experience unusual commodity specific increases.

City of Coral Springs, Florida Management’s Discussion and Analysis (Unaudited) The following presents a summary of the City’s operations for fiscal year September 30, 2025, with comparative information for fiscal year September 30, 2024: Governmental Activities 2025 2024 Revenue: Program revenue: Charges for services $ 64,284,860 Operating grants and contributions 28,879,499 Capital grants and contributions 1,986,153 General revenue: Property taxes 90,119,478 Franchise taxes 14,611,909 Utility taxes 15,224,592 Communications taxes 3,343,794 2,222,503 Gas taxes 24,526,604 Intergovernmental Investment income 9,113,777 Miscellaneous 5,098,421 Total revenue 259,411,590 Expenses: General government 33,805,984 Public safety: Police 62,161,958 Fire and emergency services 54,234,651 Parks and recreation 22,930,516 Public works 12,653,783 Development services 9,915,830 Educational and cultural programs 25,841,618 Interest on long-term debt 2,013,307 Water Sewer Stormwater Solid waste Total expenses 223,557,647 Increases in net position before transfers 35,853,943 Transfers in (out) 1,546,543 Change in net position 37,400,486 Net position, beginning 246,711,466 Cumulative effect of adoption of GASB No. 101** Net position, beginning (as restated) 246,711,466 Net position, ending $ 284,111,952

Business-Type Activities 2025 2024

Total 2025

2024

$ 67,600,678 28,585,576 976,967

$ 45,075,528 -

$ 40,406,841 99,156

$ 109,360,388 28,879,499 1,986,153

$ 108,007,519 28,585,576 1,076,123

83,159,780 14,534,938 14,812,120 3,453,820 2,237,613 26,960,952 10,281,151 4,876,131 257,479,726

1,660,780 46,736,308

1,956,308 5,075 42,467,380

90,119,478 14,611,909 15,224,592 3,343,794 2,222,503 24,526,604 10,774,557 5,098,421 306,147,898

83,159,780 14,534,938 14,812,120 3,453,820 2,237,613 26,960,952 12,237,459 4,881,206 299,947,106

28,785,166

33,805,984

28,785,166

71,271,155 66,787,036 25,182,962 11,306,994 8,047,823

62,161,958 54,234,651 22,930,516 12,653,783 9,915,830

71,271,155 66,787,036 25,182,962 11,306,994 8,047,823

25,352,878 2,038,053 238,772,067

10,924,198 16,386,298 3,612,247 9,156,649 40,079,392

10,728,795 16,093,193 3,663,364 7,183,269 37,668,621

25,841,618 2,013,307 10,924,198 16,386,298 3,612,247 9,156,649 263,637,039

25,352,878 2,038,053 10,728,795 16,093,193 3,663,364 7,183,269 276,440,688

18,707,659 270,187 18,977,846 233,462,488

6,656,916 (1,546,543) 5,110,373 82,537,676

4,798,759 (270,187) 4,528,572 78,155,708

42,510,859 42,510,859 329,249,142

23,506,418 23,506,418 311,618,196

(5,728,868) 227,733,620 $ 246,711,466

82,537,676 $ 87,648,049

(146,604) 78,009,104 $ 82,537,676

329,249,142 $ 371,760,001

(5,875,472) 305,742,724 $ 329,249,142

**The fiscal year 2024 balances were restated for the implementation of GASB 101, Compensated Absences, as of October 1, 2024.

City of Coral Springs, Florida Management’s Discussion and Analysis (Unaudited) Summary Statement of Changes in Net Position

FY 25 - Revenue by Source - Governmental Activities

Intergovernmental 9%

Miscellaneous and interest income 5% Charges for services 25%

Capital grants and contributions 1%

Gas taxes 1% Communications taxes 1%

Operating grants and contributions 11%

Utility taxes 6%

Franchise taxes 6% Property taxes 35%

FY 24 - Revenue by Source - Governmental Activities Miscellaneous and interest income 6% Capital grants and contributions 0%

Intergovernmental 11%

Charges for services 26%

Gas taxes 1% Communications taxes 1%

Operating grants and contributions 11%

Utility taxes 6%

Franchise taxes 6%

Property taxes 32%

City of Coral Springs, Florida Management’s Discussion and Analysis (Unaudited)

FY 25 Expenses by Program - Governmental Activities Development services 4%

Educational and cultural 12% Interest on longterm debt 1%

General government 15%

Public works 6%

Parks and recreation 10%

Police 28% Fire and rescue 24%

FY 24 Expenses by Program - Governmental Activities Development services 3%

Educational and cultural 11% Interest on longterm debt 1%

General government 12%

Public works 5%

Parks and recreation 10%

Police 30% Fire and rescue 28%

City of Coral Springs, Florida Management’s Discussion and Analysis (Unaudited) The City’s governmental activities net position increased from $246.7 million in September 30, 2024 (restated) to $284.1 million in September 30, 2025. Total revenues from governmental activities increased by $1.9 million from fiscal year September 30, 2024. The increase is due primarily to a $7.0 million increase in property taxes, offset by a $3.3 million decrease in charges for services and a $2.4 million decrease in intergovernmental revenues. Expenses during fiscal year September 30, 2025 decreased $15.2 million, primarily as a result of public safety police and fire services activities. The City’s business-type activities net position increased from $82.5 million in fiscal year September 30, 2024 (restated) to $87.6 million in fiscal year September 30, 2025. The $5.1 million increase is primarily due to a $4.0 million increase from current year operations in the Water and Sewer Fund, a $0.8 million increase from current year operations in the Stormwater Fund, and a $0.3 million increase from current year operations in the Solid Waste Fund. The Water and Sewer Fund’s operating earnings are primarily due to a rate increase implemented in October 2024. The water conservation rate structure modification increased certain rates by an average of 5.0%. The Water and Sewer Fund operating revenues increased $2.4 million from the prior year. Operating expenses increased by $0.5 million, primarily due to an increase in capital outlay and wastewater treatment supplies purchased. The Stormwater Fund’s revenues are derived from a special assessment which is levied based upon a flat rate per equivalent residential unit (ERU). Total operating revenues of $4.9 million were based on a special assessment rate of $144.87 per equivalent residential unit, which increased 8.2% from the prior year. The Solid Waste Fund residential assessment rate increased by $64 per single family home. As a result, the Solid Waste Fund operating revenues increased approximately $1.9 million. Financial Analysis of the City of Coral Springs’ Funds As noted earlier, the City uses fund accounting to help ensure and demonstrate compliance with finance-related legal requirements. Governmental Funds The focus of the City’s Governmental Funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the City’s financing requirements. In particular, an unassigned fund balance may serve as a useful measure of a government’s net resources available for spending at the end of the fiscal year. The General Fund is the primary operating fund of the City. At the end of the current fiscal year, the total fund balance reached approximately $66.4 million. The City’s approved fund balance policy requires a stabilization fund equal to a target level of a minimum of 17% up to 25% of budgeted General Fund expenditures less capital for the following year. This amount provides a fund for use in unforeseen, unbudgeted emergency situations and is classified as committed fund balance. As a measure of the General Fund’s liquidity, it may be useful to compare the total of unassigned fund balance and committed to stabilization fund balance to total fund expenditures as well as the total fund balance to total fund expenditures. The total of unassigned fund balance and committed to stabilization fund balance represents 24% of current year General Fund expenditures less capital, while total fund balance represents 42% of current year General Fund expenditures less capital. 14

City of Coral Springs, Florida Management’s Discussion and Analysis (Unaudited) The fund balance of the City’s General Fund increased by approximately $9.9 million during the current fiscal year. This is due primarily to an increase in the City’s total taxable assessed value resulting in an increase in property taxes of $7.0 million. Expenditures increased by approximately $12.2 million during the fiscal year. This is primarily due to an increase of $4.8 million in general government expenditures, an increase of $1.3 million in fire expenditures, an increase of $1.2 million in parks and recreation expenditures and an increase of $4.1 million in capital outlay. The fund balance for the Fire Fund increased by $1.0 million during the current fiscal year. Overall revenues increased by $1.2 million. This is due primarily to a $1.5 million increase in non-ad valorem special assessment and offset by a $0.2 million decrease in charges for services. The increase in non-ad valorem special assessment is due to an increase in the fire assessment rate from the prior year of $267.72 to $287.18. The fund balance for the Capital Projects Fund decreased by approximately $4.7 million due to more expenditures than revenue and transfers in. Approximately $16.9 million of those funds were spent on projects during the year. Proprietary Funds The City’s Proprietary Funds include the City’s Enterprise Funds – Water and Sewer Fund, Stormwater Fund and the Solid Waste Fund. An Enterprise Fund is used to account for activities for which a fee is charged to external users for goods and services. These funds provide the same type of information found in the government-wide financial statements, but in more detail. 

Unrestricted net position of the Water and Sewer Fund, Stormwater Fund and the Solid Waste Fund at the end of the current fiscal year totaled approximately $26.1 million, $4.5 million and $4.0 million, respectively.



The operating income for the Water and Sewer Fund, Stormwater Fund and the Solid Waste Fund was approximately $3.3 million, $1.2 million and $0.7 million, respectively.



The Water and Sewer Fund operating revenues increased $2.4 million from the prior year. Operating, expenses increased by $0.5 million, primarily due to an increase in capital outlay and wastewater treatment supplies purchased.



The Stormwater Fund was established in fiscal year 2020 to fund the operation, maintenance, design and construction of stormwater infrastructure to ensure effective drainage and water quality management. Total operating revenues of $4.9 million were based on a special assessment rate of $144.87 per equivalent residential unit, which increased 8.2% from the prior year.



The Solid Waste Fund residential assessment rate increased by $64 per single family home. As a result, the Solid Waste Fund operating revenues increased approximately $1.9 million.

City of Coral Springs, Florida Management’s Discussion and Analysis (Unaudited) General Fund Budgetary Highlights The difference between the original and final amended budget for the General Fund was not significant and in keeping with the financial strategy adopted in the City’s Business Plan for the 2025 fiscal year. General Fund revenue was more, and expenditures were less than budgeted. This year’s operations resulted in a $9.6 million increase to fund balance after all financial policies had been implemented. General Fund revenues were higher than budgeted by approximately $6.2 million or 3.5%. There were favorable variances in utility taxes in the amount of $3.0 million and in interest and other income in the amount of $4.3 million. General Fund expenditures were less than budgeted by approximately $3.3 million or 2.0%. The variance was primarily due to general government expenditures that were less than budget by $1.2 million and police expenditures that were less than budget by $2.4 million, offset by debt service principal payments that were higher than budget by $0.9 million. Capital Assets and Debt Administration Capital Assets The City’s investment in capital assets for its governmental and business-type activities as of September 30, 2025, amounts to approximately $296,428,000 (net of accumulated depreciation and amortization). This is a net increase (additions less retirements and depreciation) of approximately $16,394,000 or 5.9% from last fiscal year. The following summarizes the City’s capital assets as of September 30, 2025 and 2024: Capital Assets (net of depreciation and amortization) Governmental Activities Land Construction in progress Public art Land improvements Buildings Infrastructure Equipment Leased assets Subscription assets Total

2025 33,565,713 23,626,238 3,482,651 11,831,748 93,699,956 32,927,913 32,814,159 678,464 4,573,798 237,200,640

2024 32,672,457 32,830,509 3,482,651 13,282,505 81,526,659 31,663,853 20,918,438 610,897 1,348,135 218,336,104

Business-Type Activities $

2025 198,586 7,750,343 82,013 2,173,552 47,978,547 1,044,127 59,227,168

2024 198,586 12,444,954 94,999 2,711,512 45,261,214 986,272 61,697,537

Total 2025 33,764,299 $ 31,376,581 3,482,651 11,913,761 95,873,508 80,906,460 33,858,286 678,464 4,573,798 296,427,808 $

2024 32,871,043 45,275,463 3,482,651 13,377,504 84,238,171 76,925,067 21,904,710 610,897 1,348,135 280,033,641

City of Coral Springs, Florida Management’s Discussion and Analysis (Unaudited) Major capital asset expenditures during the current fiscal year include the following: 

Police equipment and software - $4,334,000



Purchase of 65 City vehicles – $3,073,000



Kiwanis Park Community Center Renovations – $2,281,000



Sidewalk replacement – $1,761,000



Coral Springs fiber network – $1,624,000



Pierce Enforcer fire truck – $1,529,000



Rehabilitation of sanitary sewer lines – $1,000,000



ERP software and implementation – $754,000



Roadway/Alleyway resurfacing - $630,000

Additional information can be found in Note 6 Capital Assets and Construction Commitments. Long-Term Debt September 30, 2025 and 2024 On September 30, 2025, the City had $79.0 million in debt (bonds, notes, etc.) outstanding compared to $87.2 million last year, a 9.4% decrease. Of this amount of debt outstanding, approximately 10.3% was backed by the full faith and credit of the City and the remaining balance was secured by various revenue sources. The debt position of the City is summarized below and is explained further in Note 10 Long-Term Liabilities. Governmental Activities General obligation bonds General obligation refunding Special obligation bonds Special obligation notes Capital revenue notes Capital revenue bonds Revenue bonds Financed purchases Lease payable Subscriptions payable State revolving fund loans Bond premium Total

2025 4,732,012 2,986,934 45,751,000 2,077,000 1,867,832 3,227,000 711,149 4,248,919 65,601,846 3,878,315 69,480,161

2024 5,612,923 4,437,322 50,236,000 2,570,000 2,211,440 1,374,000 3,829,000 636,473 946,307 71,853,465 4,509,361 76,362,826

Business-Type Activities 2025 2024 $ 3,215,000 3,710,000 6,317,152 7,117,088 9,532,152 10,827,088 9,532,152 $ 10,827,088

Total 2025 4,732,012 $ 2,986,934 45,751,000 2,077,000 1,867,832 3,215,000 3,227,000 711,149 4,248,919 6,317,152 75,133,998 3,878,315 79,012,313 $

2024 5,612,923 4,437,322 50,236,000 2,570,000 2,211,440 1,374,000 3,710,000 3,829,000 636,473 946,307 7,117,088 82,680,553 4,509,361 87,189,914

City of Coral Springs, Florida Management’s Discussion and Analysis (Unaudited) The decrease in the City’s bonded debt in fiscal year 2025, is due to current year principal payments for the applicable debt (see Note 10 for more information). The City received a rating of AAA, the highest investment grade, by Fitch Ratings and by Standard and Poor’s for its issuer rating (implied General Obligation Bonds rating). The City received AAA rating by Fitch Ratings and Standard and Poor’s for the Special Obligation Bonds. Economic Factors and Next Year’s Budget The City, through prudent fiscal management, maintains a healthy financial position ensuring long-term sustainability of the budget aiming to be a premier community that our residents and businesses will continue to receive the value and quality services they have trusted from their City. The City uses a multi-year strategic planning process that results in a mission and a set of strategic priorities that provide vision and direction for the City. Specific initiatives are developed in response to the priorities identified in the Strategic Plan. The Business Plan is an outcome of the strategic priorities, capturing the City’s vision in a specific, directed, and quantifiable form, given the current economic conditions. A key piece in developing the Business Plan and Budget is the researched findings in the environmental scan and the resulting financial strategy. In developing the Fiscal Year 2026 Business Plan, Annual Budget and Capital Improvement Program, the following economic factors were considered: 

The City’s commitment to the redevelopment of Downtown Coral Springs continues with all three corners currently undergoing construction or site development. Modera at Cornerstone is almost fully occupied. The north block of Cornerstone welcomed its first residents at the end of 2025. The northwest quadrant of the city’s downtown, known as City Village, is a project by Amera Downtown Development. Plans include retail, residential, restaurants and entertainment. The northeast corner is also a mixed-use project with 12,000 square feet of commercial space. The redevelopment within the downtown area will enhance the tax base in the city as well as the quality of life and sense of place for residents, businesses and visitors.

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The City’s total taxable assessed values (TTAV) as of July 1 against the prior year October 1 final values increased 7.39% in fiscal year 2018; increased 6.99% in fiscal year 2019; increased 5.50% in fiscal year 2020; 5.58% in fiscal year 2021; 5.13% in fiscal year 2022; 9.49% in fiscal year 2023; 9.47% in fiscal year 2024; 8.99% in fiscal year 2025; and 7.12% in fiscal year 2026. These figures are provided by the Broward County Property Appraiser’s Office (BCPA) every year.



While the housing market has cooled slightly and median home prices have stabilized with minimal growth over the past year, Coral Springs remains stable and attractive to buyers, and an energized commercial sector developing, growing and further diversifying the economic base will provide a more solid foundation to withstand future economic downturns.

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Major retailers and businesses are investing in the city. Within the commercial sector, CTS Engines opened in the Coral Springs Commerce Park at the Osprey Logistics Park which includes over 400K square feet of industrial space. They have created over 400 jobs in the aerospace sector and continue to grow. PepsiCo also opened a distribution center in the Commerce Park. As for retail and restaurants, Nordstrom Rack, Eddie & Vinny’s, Veranda Kitchen, Flora’s Italian Eatery and Jet Set Pilates opened with Gary Rack’s Farmhouse Kitchen, Big Whiskey’s, Ember and Vine and many others planned for 2026. 18

City of Coral Springs, Florida Management’s Discussion and Analysis (Unaudited) 

With a healthy housing market, new residential development underway, and an energized commercial sector, developing, growing, and further diversifying the economic base will provide a more solid foundation to withstand future economic downturns.



Overall, demand-driven revenues are expected to increase slightly after showing robust recovery from the pandemic. While some demand-driven revenues (e.g., Half-Cent Sales Tax, State Shared Revenue) were on the increase, they have shown signs of slowing and are now expected to slow to historic growth of 2%, where others (Electric Utility Service Tax, and Electric Franchise Fee) are showing signs of new growth. The City expects slow growth of 1-2% for these moving forward for these revenues.



The City adopted a balanced budget for fiscal year 2026 using a millage rate of 6.0232. This millage rate is the same as the fiscal year 2025 millage rate. The debt service millage rate will decrease slightly from 0.1778 to 0.1659 due to an increase in the City’s total taxable assessed values.



The City continues to fund vehicle replacement, computer replacement, and parks replacement funds to ensure there is sufficient funding on hand to replace vehicles, technology, and large park items, when necessary, thereby avoiding the issuance of additional debt. With stable fund balance reserves, the City continues to follow financial policies that protect the City during emergencies.



Water and sewer rates increased by a weighted average of 12.6% from rates in fiscal year 2025.



The City’s unemployment rate as of November 2025 was 4.0%, slightly below the State of Florida rate of 4.2% and below the US rate of 4.4%.



Real gross domestic product (GDP) surged in mid-2025, with strong consumer spending and moderate business investment offsetting early-year weakness. Inflation eased to 2.7% by year-end 2025 but remains above the Federal Open Market Committee’s (FOMC) 2% objective. Real GDP grew 1.9% in 2025, following 2.8% in 2024, and the Federal Reserve projects growth of about 1.8% in 2026.

Contacting the City’s Financial Services Department The City’s financial statements are designed to present users (citizens, taxpayers, customers, investors, and creditors) with a general overview of the City’s finances and to demonstrate the City’s accountability. Separately issued financial reports are also available for the following City component units: Police Officers’ Plan, Firefighters’ Plan and the Community Redevelopment Agency. Questions concerning any of the information provided in this report or requests for additional financial information should be directed to the Financial Services Department, 9500 West Sample Road, Coral Springs, Florida 33065: (954) 344-1088.

City of Coral Springs, Florida Statement of Net Position September 30, 2025 Primary Government Governmental Activities Assets Pooled cash and cash equivalents Investments Interest receivable Accounts receivable, net Leases receivable Due from other governments Prepaid items Inventory Restricted assets: Cash and cash equivalents Investments Net pension asset Capital and right-to-use assets: Non-depreciable Depreciable (net) Total assets Deferred outflows of resources Deferred charge on refunding Pensions (Note 15) OPEB (Note 16) Total deferred outflows of resources

99,455,882 86,408,986 1,086,253 6,453,704 43,610,014 4,449,854 15,000 807,513

Business-Type Activities $

19,304,979 18,364,279 230,227 4,319,729 68,276 57,154

Total $

118,760,861 104,773,265 1,316,480 10,773,433 43,610,014 4,518,130 15,000 864,667

Component Unit Community Redevelopment Agency $

2,897,429 -

2,132,830 122,631 11,276,044

1,846,860 -

3,979,690 122,631 11,276,044

60,674,602 176,526,038 493,019,351

7,948,929 51,278,239 103,418,672

68,623,531 227,804,277 596,438,023

55,610 17,699 2,970,738

10,348 37,620,212 6,332,036 43,962,596

476,420 476,420

10,348 37,620,212 6,808,456 44,439,016

City of Coral Springs, Florida Statement of Net Position September 30, 2025 Primary Government Governmental Activities Liabilities Accounts payable and accrued liabilities Accrued interest Due to other governments Accrued liability for estimated claims Deposits and unearned revenue Noncurrent liabilities: Due within one year: Compensated absences Bonds, notes, lease and subscriptions payable Due in more than one year: Compensated absences Bonds, notes, leases and subscriptions payable Net pension liability Net OPEB liability Total liabilities

Deferred inflows of resources: Pensions (Note 15) OPEB (Note 16) Leases Total deferred inflows of resources Net Position Net investment in capital assets Restricted for: Fire safety Charter school operations Law enforcement Public art Physical environment Affordable housing Impact fees Net pension asset Capital projects Unrestricted Total net position

8,852,908 252,037 445,806 5,618,842 13,373,903

Business-Type Activities $

2,329,566 76,767 1,671,445

Total $

11,182,474 328,804 445,806 5,618,842 15,045,348

Component Unit Community Redevelopment Agency $

31,195 -

1,435,649 8,904,516

50,694 1,327,162

1,486,343 10,231,678

14,516,015 60,575,645 41,735,327 13,736,841 169,447,489

512,576 8,204,990 1,035,907 15,209,107

15,028,591 68,780,635 41,735,327 14,772,748 184,656,596

31,195

28,212,340 13,437,386 41,772,780 83,422,506

1,037,936 1,037,936

28,212,340 14,475,322 41,772,780 84,460,442

169,197,002

49,884,103

219,081,105

73,309

6,877,337 10,038,851 5,421,869 2,129,468 991,489 1,468,598 11,276,044 3,290,357 73,420,937 284,111,952

3,270,370 34,493,576 $ 87,648,049

6,877,337 10,038,851 5,421,869 2,129,468 991,489 1,468,598 3,270,370 11,276,044 3,290,357 107,914,513 $ 371,760,001

2,418,315 447,919 2,939,543

See Notes to Financial Statements.

City of Coral Springs, Florida Statement of Activities Fiscal Year Ended September 30, 2025

Functions/Programs Primary Government: Governmental activities: General government Police Fire and emergency services Parks and recreation Public works Development services Educational and cultural programs Interest Total governmental activities Business-type activities: Water Sewer Stormwater Solid Waste Total business-type activities Total primary government Component Unit: Community Redevelopment

Charges for Services

Expenses

33,805,984 62,161,958 54,234,651 22,930,516 12,653,783 9,915,830 25,841,618 2,013,307 223,557,647

5,478,225 8,529,646 37,213,105 3,701,445 38,763 6,487,140 2,836,536 64,284,860

Program Revenue Operating Capital Grants and Grants and Contributions Contributions

5,750,851 1,080,378 (2,863) 98,882 295,113 810,079 20,847,059 28,879,499

10,924,198 16,386,298 3,612,247 9,156,649 40,079,392

13,473,196 16,871,319 4,858,904 9,872,109 45,075,528

$ 263,637,039

$ 109,360,388

28,879,499

1,986,153

$ $

1,328,916 1,328,916

297,480 239,253 407,942 172,940 868,538 1,986,153

General revenue: Taxes: Ad valorem, levied for general purpose Ad valorem, levied for debt service Franchise fees Utility taxes Communication taxes Gas taxes Incremental property tax Intergovernmental not restricted to specific programs Investment income Miscellaneous Transfers Total general revenue Change in net position Net position, beginning, as originally stated Adjustment - change in accounting principle Net position, beginning, as restated Net position, ending See Notes to Financial Statements.

Net (Expense) Revenue and Changes in Net Position Component Unit Primary Government Governmental Business-Type Community Activities Activities Total Redevelopment Agency

$ (22,279,428) (52,312,681) (16,616,467) (18,957,249) (11,451,369) (2,618,611) (2,158,023) (2,013,307) (128,407,135)

(128,407,135) -

87,534,565 2,584,913 14,611,909 15,224,592 3,343,794 2,222,503 24,526,604 9,113,777 5,098,421 1,546,543 165,807,621 37,400,486 252,440,334 (5,728,868) 246,711,466 $ 284,111,952

$ (22,279,428) (52,312,681) (16,616,467) (18,957,249) (11,451,369) (2,618,611) (2,158,023) (2,013,307) (128,407,135)

2,548,998 485,021 1,246,657 715,460 4,996,136

4,996,136

(123,410,999)

1,660,780 (1,546,543) 114,237 5,110,373 82,684,280 (146,604) 82,537,676 87,648,049

87,534,565 2,584,913 14,611,909 15,224,592 3,343,794 2,222,503 24,526,604 10,774,557 5,098,421 165,921,858 42,510,859 335,124,614 (5,875,472) 329,249,142 $ 371,760,001

(1,328,916) (1,328,916)

2,126,044 77,044 2,203,088 874,172 2,065,371 2,065,371 2,939,543

City of Coral Springs, Florida

Governmental Funds Balance Sheet September 30, 2025 General Fund

Nonmajor Governmental Funds

General Capital Projects Fund

Fire Fund

Total Governmental Funds

Assets Pooled cash and cash equivalents

34,286,008

4,149,560

21,415,791

19,131,904

78,983,263

30,024,389

3,635,229

18,761,341

14,813,375

Interest receivable

375,371

45,449

234,559

189,615

844,994

Accounts receivable, net

6,387,017

925

10,536

6,398,478

Lease receivable

43,610,014

Due from other governments

3,275,419

1,174,435

4,449,854

Inventory

807,513

Prepaid items

15,000

118,780,731

7,831,163

40,411,691

35,319,865

202,343,450

4,986,515

681,540

1,410,717

890,090

7,968,862

Investments

Total assets

67,234,334

Liabilities, deferred inflows of resources and fund balance Accounts payable and accrued liabilities Due to other governments

445,806

Deposits and unearned revenue

3,589,958

272,286

9,511,659

13,373,903

9,022,279

953,826

1,410,717

10,401,749

21,788,571

Total liabilities Deferred inflows of resources Unavailable revenue

1,559,902

1,147,410

2,707,312

Leases

41,772,780

43,332,682

1,147,410

44,480,092

822,513

6,877,337 -

23,340,632 -

30,217,969

Committed

35,717,422

Assigned

27,610,443

39,000,974

1,240,418

67,851,835

Unassigned

2,275,392

(810,344)

1,465,048

66,425,770

6,877,337

39,000,974

23,770,706

136,074,787

35,319,865

$ 202,343,450

Total deferred inflows of resources Fund balances Nonspendable Restricted

Total fund balances Total liabilities, deferred inflows of resources and fund balances

$ 118,780,731

7,831,163

See Notes to Financial Statements.

40,411,691

City of Coral Springs, Florida Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position September 30, 2025

Fund balances – total governmental funds Amounts reported for governmental activities in the statement of net position are different because: Capital assets used in governmental activities are not current financial resources and therefore are not reported in the funds.

$ 136,074,787

221,816,950

Net pension asset is not reported in the funds as it is not available to pay current period expenditures.

11,276,044

Other long-term assets are not available to pay for current period expenditures and therefore are reported as unavailable revenue in the funds.

2,707,312

Internal service funds are used by management to charge the costs of fleet management and self-insurance activities to individual funds. The net position of the internal service funds are included in governmental activities in the statement of net position. Long-term liabilities, including bonds payable, are not due and payable in the current period and therefore, are not reported in the governmental funds: Accrued liabilities and interest payable Bonds, notes, leases and subscriptions payable Compensated absences Net pension liability Net OPEB liability

50,256,194

(251,345) (65,501,055) (15,678,114) (41,735,327) (13,441,386) (136,607,227)

Certain items are recognized when debt is issued in the governmental funds. These items, however, must be capitalized and amortized in the government-wide statements: Premiums and discounts Accumulated amortization Total Deferred outflows/inflows of resources reported in the statement of net position: Deferred charge on refunding Deferred outflows – pensions Deferred outflows – OPEB Deferred inflows – pensions Deferred inflows – OPEB

(8,475,661) 4,597,346 (3,878,315)

10,348 37,620,212 6,195,866 (28,212,340) (13,147,879) 2,466,207 $ 284,111,952

Net position of governmental activities See Notes to Financial Statements.

City of Coral Springs, Florida Governmental Funds Statement of Revenue, Expenditures and Changes in Fund Balances Fiscal Year Ended September 30, 2025

General Fund Revenues Taxes: Ad valorem Franchise fees Utility Intergovernmental Non-ad valorem special assessment Licenses and permits Charges for services Fines and forfeitures Interest and other Total revenue Expenditures Current: General government Public safety: Police Fire and emergency services Parks and recreation Public works Development services Educational and cultural programs Capital outlay Debt service: Principal Interest and other Total expenditures

Excess (deficiency) of revenue over (under) expenditures Other financing sources (uses) Transfers in Transfers out Issuance of leases and subscriptions Total other financing sources (uses) Net change in fund balances Fund balances, beginning of year, as originally reported Changes to financial reporting entity Fund balances, beginning of year, as restated Fund balances, end of year $

87,534,565 14,611,909 15,224,592 28,225,570 4,592,407 30,088,364 1,800,512 8,425,595 190,503,514

(Formerly Major) American Rescue Plan Fund

Fire Fund $

48,203 17,831,169 11,044,471 502,360 29,426,203

Nonmajor Governmental Funds

General Capital Projects Fund $

2,000,797 2,000,797

2,584,913 32,831,232 52,001 155,845 1,111,399 1,540,391 38,275,781

Total Governmental Funds $

90,119,478 14,611,909 15,224,592 61,105,005 17,831,169 4,644,408 41,288,680 2,911,911 12,469,143 260,206,295

32,133,123

30,298

32,163,421

67,434,489 19,523,028 17,819,342 8,429,144 8,623,568 4,344,263 6,760,836

28,753,845 14,142

277,396 16,934,212

1,553,316 178,503 88,532 10,130 1,916,517 20,986,712 8,987,214

68,987,805 48,455,376 18,185,270 8,439,274 10,540,085 25,330,975 32,696,404

721,414 165,509 165,954,716

28,767,987

17,241,906

10,508,875 2,351,440 46,581,239

11,230,289 2,516,949 258,545,848

24,548,798

658,216

(15,241,109)

(8,305,458)

1,660,447

791,503 (20,551,131) 5,095,802 (14,663,826) 9,884,972

3,039,908 (2,732,416) 307,492 965,708

10,819,769 (245,980) 10,573,789 (4,667,320)

10,883,127 (484,213) 10,398,914 2,093,456

25,534,307 (24,013,740) 5,095,802 6,616,369 8,276,816

56,540,798 -

5,911,629 -

43,668,294 -

20,456,116 1,221,134

127,797,971 -

21,677,250 23,770,706

127,797,971 $ 136,074,787

56,540,798 66,425,770

5,911,629 6,877,337

See Notes to Financial Statements.

1,221,134 (1,221,134) $

43,668,294 39,000,974

City of Coral Springs, Florida Reconciliation of the Statement of Revenue, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities Fiscal Year Ended September 30, 2025

Net change in fund balances, total governmental funds Amounts reported for governmental activities in the statement of activities are different because: Governmental funds report capital outlay as expenditures. However, in the statement of activities the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense: Expenditures for capital and right-to-use assets Less current year depreciation and amortization Total The net effect of various miscellaneous transactions involving capital assets (i.e. sales, disposals and donations) is to decrease net position.

30,801,569 (13,223,098) 17,578,471 (213,107)

Revenues that are earned but not received within the City's availability period are recognized in the statement of activities when earned and subsequently in the governmental fund financial statements when they become available. The net difference is recorded as a reconciling item. Net effect of timing of revenue recognition for: Grant revenue Ambulance transport fee The issuance of long-term debt provides current financial resources and the repayment of the principal of long-term debt consumes the current financial resources of the governmental funds. Proceeds from leases and subscriptions Principal repayments on bonds, notes, leases and subscriptions payable Net effect of amortizing loss on advance refunding, discounts and premiums from issuance of debt Total

(1,087,603) (1,454,067)

(5,095,802) 11,230,289 610,540 6,745,027

Internal service funds are used by management to charge the costs of certain activities to individual funds. The change in net position of the internal service funds is reported with governmental activities. Some expenses reported in the statement of activities do not require the use of current financial resources and therefore are not reported as expenditures in governmental funds: Compensated absences Accrued interest on long-term debt Pension expense OPEB expense Total Change in net position of governmental activities See Notes to Financial Statements.

8,276,816

5,382,047

(1,710,813) (105,519) 1,732,271 2,256,963 $

2,172,902 37,400,486

City of Coral Springs, Florida Proprietary Funds Statement of Net Position September 30, 2025

Business-Type Activities Nonmajor Water and Enterprise Sewer Funds Total Assets Current assets: Pooled cash and cash equivalents Investments Interest receivable Accounts receivables, net Unbilled usage fees Due from other governments Inventory Restricted assets: Cash and cash equivalents Total current assets

Noncurrent assets: Capital assets: Land Construction in progress Land improvements Equipment Buildings Infrastructure Lease assets Less accumulated depreciation Total capital assets, net Total noncurrent assets Total assets Deferred Outflows of Resources Deferred outflows – OPEB Total deferred outflows of resources

14,024,852 13,738,613 172,396 2,639,817 1,679,912 68,276 57,154

Internal Service Funds

5,280,127 4,625,666 57,831 -

$ 19,304,979 18,364,279 230,227 2,639,817 1,679,912 68,276 57,154

1,846,860 34,227,880

9,963,624

1,846,860 44,191,504

42,199,217

198,586 4,483,909 213,338 3,059,257 18,226,626 95,492,844 (70,399,068) 51,275,492 51,275,492 85,503,372

3,266,434 405,767 5,354,210 (1,074,735) 7,951,676 7,951,676 17,915,300

198,586 7,750,343 213,338 3,465,024 18,226,626 100,847,054 (71,473,803) 59,227,168 59,227,168 103,418,672

1,396,715 43,446,510 543,995 (30,003,530) 15,383,690 15,383,690 57,582,907

340,252 340,252

Governmental Activities

136,168 136,168

476,420 476,420

22,605,449 19,297,283 241,259 55,226 -

136,170 136,170

City of Coral Springs, Florida Proprietary Funds Statement of Net Position September 30, 2025 Business-Type Activities Nonmajor Water and Enterprise Sewer Funds Total Liabilities Current liabilities payable from current assets: Accounts payable and accrued liabilities Accrued interest Compensated absences Lease payable Current portion of long-term liabilities Accrued liability for estimated claims Total current liabilities payable from current assets Current liabilities payable from restricted assets: Deposits Total current liabilities payable from restricted assets Total current liabilities Noncurrent liabilities: Compensated absences Net OPEB liability Long-term liabilities Total noncurrent liabilities Total liabilities

Deferred inflows of resources Deferred inflows – OPEB Total deferred inflows of resources Net Position Net investment in capital assets Restricted: Impact fees Unrestricted Total net position

1,390,706 76,767 38,457 1,327,162 -

938,860 12,237 -

2,329,566 76,767 50,694 1,327,162 -

Governmental Activities Internal Service Funds

884,046 692 24,619 100,791 5,618,842

2,833,092

951,097

3,784,189

6,628,990

1,671,445

1,671,445 4,504,537

951,097

1,671,445 5,455,634

6,628,990

388,846 740,452 8,204,990 9,334,288 13,838,825

123,730 295,455 419,185 1,370,282

512,576 1,035,907 8,204,990 9,753,473 15,209,107

248,931 295,455 544,386 7,173,376

748,429 748,429

289,507 289,507

1,037,936 1,037,936

289,507 289,507

41,932,427

7,951,676

49,884,103

15,282,899

3,270,370 26,053,573 71,256,370

8,440,003 16,391,679

3,270,370 34,493,576 87,648,049

34,973,295 50,256,194

See Notes to Financial Statements.

City of Coral Springs, Florida Proprietary Funds Statement of Revenue, Expenses and Changes in Net Position Fiscal Year Ended September 30, 2025

Business-Type Activities Nonmajor Water and Enterprise Sewer Funds Operating revenues: Charges for services Other revenue Total operating revenue

Operating expenses: Operating and program costs Administration Nondepartmental Depreciation and amortization Insurance claims, net of recoveries Insurance premiums Total operating expenses Operating income Nonoperating revenues (expenses): Investment income Interest expense Gain on disposal of capital assets Total nonoperating revenues (expenses) Income before capital contributions and transfers Transfers in Transfers out Change in net position Net position, beginning, as originally stated Adjustment – change in accounting principal Net position, beginning, as restated Net position, ending

30,344,515 30,344,515

14,731,013 14,731,013

Governmental Activities Total 45,075,528 45,075,528

Internal Service Funds $

36,039,873 66,835 36,106,708

15,135,598 5,759,654 1,418,033 4,713,216 27,026,501 3,318,014

12,145,567 287,434 335,895 12,768,896 1,962,117

27,281,165 6,047,088 1,418,033 5,049,111 39,795,397 5,280,131

2,166,795 6,044,217 4,269,985 14,222,033 6,532,849 33,235,879 2,870,829

1,093,993 (283,995) -

566,787 -

1,660,780 (283,995) -

1,746,965 (1,379) 739,656

809,998

566,787

1,376,785

2,485,242

4,128,012

2,528,904

6,656,916

5,356,071

(131,050) 3,996,962 67,362,720

(1,415,493) 1,113,411 15,321,560

(1,546,543) 5,110,373 82,684,280

105,000 (79,024) 5,382,047 44,951,803

(103,312) 67,259,408 71,256,370

(43,292) 15,278,268 16,391,679

(146,604) 82,537,676 87,648,049

(77,656) 44,874,147 50,256,194

See Notes to Financial Statements.

City of Coral Springs, Florida Proprietary Funds Statement of Cash Flows Fiscal Year Ended September 30, 2025

Business-Type Activities – Enterprise Funds Nonmajor Water and Enterprise Sewer Funds Total Cash Flows From Operating Activities Receipts from customers Receipts from other funds Receipts from employees and other sources Payments to suppliers for goods and services Payments for claims Payments to employees for services Net cash provided by operating activities

$ 29,828,616 (17,173,460) (5,117,948) 7,537,208

Cash Flows From Noncapital Financing Activities Transfer to other funds Net cash (used in) provided by noncapital financing activities Cash Flows From Capital and Related Financing Activities Acquisition and construction of capital assets Proceeds from sale of capital assets Transfer to other funds Principal paid on bonds Interest paid on bonds Principal paid on leases Interest paid on leases Net cash used in capital and related financing activities Cash Flows From Investing Activities Interest received Proceeds from sale of investments Purchase of investments Net cash provided by investing activities Net increase in cash and cash equivalents Cash and cash equivalents, beginning of year Cash and cash equivalents, end of year Cash and cash equivalents reported as: Cash and cash equivalents, unrestricted Cash and cash equivalents, restricted

14,732,851 (11,223,974) (1,362,731) 2,146,146

$ 44,561,467 (28,397,434) (6,480,679) 9,683,354

Governmental Activities Internal Service Funds $

36,039,873 4,425,251 (12,697,728) (18,555,374) (2,095,170) 7,116,852

(131,050)

105,000

(131,050)

105,000

(2,404,264) (1,294,936) (293,725) -

(284,443) (1,415,493) -

(2,688,707) (1,415,493) (1,294,936) (293,725) -

(541,164) (4,488,340) (79,024) (117,132) (1,314)

(3,992,925)

(1,699,936)

(5,692,861)

(5,226,974)

1,113,520 3,475,720 4,589,240 8,002,473 7,869,239 $ 15,871,712

579,221 9,073,421 (7,546,329) 2,106,313 2,552,523 2,727,604 5,280,127

1,692,741 12,549,141 (7,546,329) 6,695,553 10,554,996 10,596,843 $ 21,151,839

1,802,486 38,976,328 (32,365,467) 8,413,347 10,408,225 12,197,224 22,605,449

5,280,127 5,280,127

19,304,979 1,846,860 $ 21,151,839

22,605,449 22,605,449

14,024,852 1,846,860 $ 15,871,712

City of Coral Springs, Florida Proprietary Funds Statement of Cash Flows Fiscal Year Ended September 30, 2025 Business-Type Activities Nonmajor Water and Enterprise Sewer Funds Reconciliation of operating income to net cash provided by operating activities: Operating income Adjustments to reconcile operating income to net cash provided by operating activities: Depreciation and amortization Changes in assets, liabilities and deferred inflows/outflows – (Increase)/Decrease: Accounts receivable Inventory Due from other governments Deferred outflows Accounts payable Accrued liability for estimated claims Compensated absences Deposits Net OPEB liability Deferred inflows Total adjustments Net cash provided by operating activities Noncash investing, capital, noncapital and related financing activities: Increase (decrease) in fair value of investments that are not cash equivalents: Unrealized gain (loss) on investments Total noncash investing, capital, noncapital and related financing activities

3,318,014

Governmental Activities

Total

Internal Service Funds

1,962,117

$ 5,280,131

2,870,829

4,713,216

335,895

5,049,111

4,269,985

(546,959) (4,529) 10,026 76,728 45,573 31,060 (7,264) (98,657) 4,219,194

1,838 3,943 (114,092) 9,405 (3,632) (49,328) 184,029

(546,959) (4,529) 1,838 13,969 (37,364) 54,978 31,060 (10,896) (147,985) 4,403,223

10,291 3,943 (41,035) 14,784 41,015 (3,632) (49,328) 4,246,023

$ 9,683,354

7,116,852

7,537,208

2,146,146

(73,730)

(28,318)

(102,048)

(120,144)

(73,730)

(28,318)

(102,048)

(120,144)

See Notes to Financial Statements.

City of Coral Springs, Florida Fiduciary Funds Statement of Net Position September 30, 2025 Trust Funds Assets Cash and cash equivalents Investments: Debt securities Equity securities Other investments Pending trades Interest receivable Accounts receivable – state contribution Employee loan receivable and other assets Total assets

13,111,126 92,414,571 485,869,946 148,857,573 436,603 468,767 451,054 1,941,182 743,550,822

Liabilities Accounts payable and accrued liabilities Pending trades Total liabilities

598,020 358,046 956,066

Net Position Net position restricted for future pension benefits Net position restricted for future OPEB benefits Net position restricted for current pension benefits and other purposes Total net position See Notes to Financial Statements.

8,206,947 9,294,010 725,093,799 742,594,756

City of Coral Springs, Florida Fiduciary Funds Statement of Changes in Net Position Fiscal Year Ended September 30, 2025 Trust Funds Additions Employee contribution Employer contribution State contribution Rollovers, net Total contributions

Investment income Net appreciation in fair value of investments Other income

7,308,632 22,622,393 4,408,562 (55,824) 34,283,763 18,298,622 51,100,496 2,711,961 72,111,079 (1,716,299) 70,394,780 104,678,543

Investment expense Net investment income Total additions Deductions Benefit payments DROP payments and other Share plan Refunds to participants Administrative expenses Total deductions Change in net position

30,172,609 12,905,651 266,708 127,613 846,908 44,319,489 60,359,054

Net position restricted for pension benefits and other purposes, beginning of year Net position restricted for pension benefits and other purposes, end of year See Notes to Financial Statements.

682,235,702 742,594,756

City of Coral Springs, Florida Index for Notes to Financial Statements Page Note 1

Summary of Significant Accounting Policies

Note 2

Fund Balances and Budgetary Control

Note 3

Cash, Cash Equivalents and Investments

Note 4

Receivables and Payables

Note 5

Interfund and Transfers

Note 6

Capital Assets and Construction Commitments

Note 7

Leases Receivable

Note 8

Deferred Outflows and Inflows of Resources

Note 9

Deposits and Unearned Revenue

Note 10

Long-Term Liabilities

Note 11

Industrial Development Bonds

Note 12

Restricted Net Position

Note 13

Risk Management

Note 14

Commitments and Contingency

Note 15

Employee Retirement Plans

Note 16

Other Post-Employment Benefits (OPEB)

Note 17

Pronouncements Issued But Not Yet Adopted

Note 18

Restatements

City of Coral Springs, Florida Notes to Financial Statements Note 1.

Summary of Significant Accounting Policies

A. Financial Reporting Entity The City of Coral Springs (the “City”) was incorporated on July 10, 1963, under the provisions of Chapter 63-1248 Laws of Florida, Acts of 1963. The City operates under a Commission-Manager form of government and provides the following full range of municipal services authorized by its charter: public safety, highways and streets, sanitation, culture, education through its charter school, recreation, public improvements, planning and zoning, water and sewer and general administrative services. The City’s basic financial statements include the operations of all organizations for which the City is considered to be financially accountable. The City Commission of Coral Springs, Florida under the provisions of Chapter 163 of the Florida Statutes established the Coral Springs Community Redevelopment Agency (“CRA”) in 2001, by Ordinance No. 2001-128, as an independent special district. The CRA was established to prepare or have prepared a community redevelopment plan for areas within the City, which are determined to be slum or blighted areas and to carry out the community redevelopment purposes of Part III, Chapter 163, of the Florida Statutes. The CRA is a discretely presented component unit and is reported in a separate column in the government-wide financial statements. The CRA is a discrete component unit in that it is a legally separate entity, it has a governing board that is different from the City, a financial benefit/burden relationship exists with the City, and it does not provide services entirely or almost entirely to the City. The CRA’s Board is composed of seven individuals, appointed by the City of Coral Springs’ City Commission. Copies of these reports are available at the City Manager’s Office in City Hall – 9500 West Sample Road, Coral Springs, Florida 33065. The City also reports the Police Officers’ Plan, Firefighters’ Plan, General Employees Plan and the Other PostEmployment Benefits Plan as fiduciary component units. See Notes Note 15 - Employee Retirement and Note 16 Other Post-Employment Benefits (OPEB) for further information. The following is a summary of the significant accounting policies applicable to the City: The accounting policies of the City conform to accounting principles generally accepted in the United States of America (“GAAP”) applicable to governmental units. The Governmental Accounting Standards Board (“GASB”) is the standard-setting body for governmental accounting and financial reporting. B. Government-Wide and Fund Financial Statements The basic financial statements include both government-wide (based on the City as a whole) and fund financial statements along with the notes to the financial statements. Both the government-wide and fund financial statements (within the basic financial statements) distinguish between the governmental and business-type activities of the City. Government-wide financial statements include a statement of net position and a statement of activities. These statements report on the government as a whole and provide a financial picture of the entire government. The amounts reported as internal balances represent amounts due between governmental and business-type activities. Fiduciary Funds of the government are not included in this presentation since these resources are not available for funding general government programs.

City of Coral Springs, Florida Notes to Financial Statements Note 1.

Summary of Significant Accounting Policies (Continued)

The statement of net position reports all financial and capital resources of the City’s governmental and business-type activities. Governmental activities are those largely supported by taxes and intergovernmental revenue. Businesstype activities rely to a significant extent on fees and charges for support. The statement of activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenue. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenue includes: (1) charges for goods or services that are recovered directly from customers for services rendered, and (2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items that are not directly related to program revenue are reported as general revenue. Separate financial statements are provided for Governmental Funds, Proprietary Funds, and Fiduciary Funds, even though the latter are excluded from the government-wide financial statements. Major individual governmental funds and major individual enterprise funds are reported as separate columns in the fund financial statements. Since the governmental fund financial statements are presented on a different measurement focus and basis of accounting than the government-wide statements, a reconciliation is provided which briefly explains the adjustments necessary to reconcile the governmental fund financial statements to the governmental activities of the governmentwide presentations. C. Measurement Focus, Basis of Accounting and Financial Statement Presentation The government-wide, the proprietary fund and fiduciary fund financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are reported when a liability is incurred, regardless of the timing of related cash flows. All governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Under the modified accrual basis of accounting, revenue is recognized in the accounting period in which it becomes both measurable and available to finance expenditures of the current period. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. For this purpose, the City considers revenues to be available if they are collected within 60 days of the end of the fiscal year. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences, pension costs, OPEB trust costs, leases, SBITAs and claims and judgments, are recorded only when payment is due. Property taxes, when levied, franchise taxes, utility taxes, ambulance fees, intergovernmental revenues when the eligibility requirements are met, and interest income associated with the current fiscal period are recorded as revenue when measurable, if available. Licenses and permits, charges for services (excluding ambulance fees) and miscellaneous revenue are recorded as revenue when received in cash because they are generally not measurable until actually received.

City of Coral Springs, Florida Notes to Financial Statements Note 1.

Summary of Significant Accounting Policies (Continued)

D. Major Funds and Basis of Presentation The financial transactions of the City are recorded in individual funds. The operations of each fund are accounted for using a separate set of self-balancing accounts, which comprise its assets, deferred outflows of resources, liabilities, deferred inflows of resources, fund balance, revenue and expenditures or expenses. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain government functions or activities. Accounting principles generally accepted in the United States of America set forth minimum criteria (percentage of the assets, liabilities, revenue or expenditures/expenses of the applicable fund category and the governmental and enterprise combined) for the determination of major funds. The nonmajor funds are presented in one column in the respective fund financial statements. The following is a description of the major governmental funds of the City: The General Fund is the primary operating fund of the City. It is used to account for all financial resources of the general government, except those required to be accounted for in another fund. Revenue is derived primarily from property taxes, charges for services, utility taxes, state, federal and other intergovernmental revenue. General operating expenditures, fixed charges and capital outlay costs that are not paid through other funds are paid from the General Fund. The Fire Fund is a special revenue fund used to account for the operations of the City’s fire prevention and suppression services as well as training provided by the Fire Academy. Revenue is derived primarily from a nonad valorem special tax assessment, a contractual agreement to provide fire/rescue services to a neighboring City, user fees for training and inspections and other intergovernmental revenue. The General Capital Projects Fund is a capital projects fund used to account for funds received and expended for the acquisition and construction of major capital facilities other than those financed by proprietary funds, grants, and general obligations, special obligation and revenue bonds and notes. The following is a description of the major proprietary fund of the City: The Water and Sewer Fund accounts for the provision of water and sewer services to residents and businesses of the City that fall under the City’s jurisdiction. Additionally, the City reports the following fund types: The Internal Service Funds are used to account for goods and/or services provided by one department to other departments of the City on a cost-reimbursement basis. The City operates two Internal Service Funds: the SelfInsurance Fund and the Equipment Services Fund. The Fiduciary Funds are used to account for assets held by the City in a trustee capacity or as an agent on behalf of others. The trust funds account for the financial resources of the City’s pension and OPEB trust plans. The funds are accounted for in essentially the same manner as the proprietary funds, using the same measurement focus and basis of accounting. 37

City of Coral Springs, Florida Notes to Financial Statements Note 1.

Summary of Significant Accounting Policies (Continued)

As a rule, the effect of interfund activity has been eliminated from the government-wide financial statements. Exceptions to this general rule are payments in lieu of taxes and other charges between the City’s water and sewer function and various other functions of the City. Elimination of these charges would distort the direct costs and program revenue for the various functions concerned. Amounts reported as program revenue in the government-wide financial statements include: (1) charges to customers or applicants for goods, services or privileges provided, (2) operating grants and contributions, and (3) capital grants and contributions, including special assessments. All revenue that is not program revenue is general revenue, and includes all taxes, as well as grants, contributions and investment earnings that are not restricted to a particular program. Proprietary funds distinguish operating revenue and expenses from nonoperating items. Operating revenue and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund’s principal ongoing operations. All revenue and expenses not meeting this definition are reported as nonoperating. When both restricted and unrestricted resources are available for use, it is the City’s policy to use restricted resources first, and then unrestricted resources as they are needed. E. Accounting Standards Adopted In fiscal year September 30, 2025, the City adopted the following statements of financial accounting standards issued by the GASB: 

GASB Statement No. 101 Compensated Absences

GASB Statement No. 101, Compensated Absences was issued in June 2022 and will result in a liability for compensated absences that more appropriately reflects when a government incurs an obligation. In addition, the model can be applied consistently to any type of compensated absence and will eliminate potential comparability issues between governments that offer different types of leave. The model will also result in a more robust estimate of the amount of compensated absences that a government will pay or settle, which will enhance the relevance and reliability of information about the liability for compensated absences. See Note 18 Restatements for more information. F. Assets, Liabilities, Deferred Outflows/Inflows of Resources, and Net Position/Fund Balance Equity in pooled cash and investments: The City, for accounting and investment purposes, maintains a pooled cash and investments account. This gives the City the ability to invest large amounts of idle cash for short periods of time and to maximize earnings potential. Cash and cash equivalents include demand deposits, money market funds, cash on hand, commercial paper and certificates of deposits. The City considers all highly liquid investments with a maturity of three months or less when purchased, to be cash equivalents. For purposes of the statement of cash flows, the Proprietary Funds’ cash and cash equivalents, which are included in the City’s pooled cash, are considered to be demand deposits and short-term investments with original maturities of three months or less from the date of acquisition.

City of Coral Springs, Florida Notes to Financial Statements Note 1.

Summary of Significant Accounting Policies (Continued)

Investments are recorded at fair value, which is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Certain plan investments, money market funds and investments in the Florida Municipal Investment Trust Fund are recorded at net asset value (NAV) per share. This method of determining fair value uses member units to which a proportionate share of net assets is attributed. Interfund receivables and payables: During its operations, the City has numerous transactions between funds that are lending and borrowing arrangements. These receivables and payables are classified as “due from other funds” or “due to other funds.” Balances of interfund receivables and payables not expected to be liquidated within one year are recorded as advances to and advances from other funds. Balances of advances to other funds are classified as nonspendable in the fund balances of the respective funds since these balances are not available for appropriation. Receivables and pending trades: All trade and other receivables are reported at original amount, net of an allowance for doubtful receivables based on a review of outstanding amounts on a regular basis. Management determines that allowance by specifically identifying uncollectible accounts and a general allowance is calculated based on the City’s historic bad-debt experience. Trust fund pending trades represent investment purchases or sales that have been initiated but have not settled as of the financial statement date, no allowance is recorded for such transactions. Inventory: Inventory, consisting primarily of expendable supplies held for consumption, is stated at cost on a first-in, first-out basis. The City utilizes the consumption method of accounting, which provides that expenditures are recognized when inventory is used. In the governmental funds’ balance sheet, inventory is classified as nonspendable in the “fund balance” section to indicate that a portion of the “fund balance” is not available to pay for future expenditures. Restricted assets: Certain proceeds from general obligation bonds and revenue notes and bonds, as well as other monies as required by bond indentures, are classified as restricted assets in the government-wide and proprietary fund statements of net position. Restricted assets are not presented on the balance sheet of the governmental funds; however, certain assets of these funds are restricted as to use. Capital assets: Capital assets, which include land, public art, property, plant, equipment, right-to-use leased assets and infrastructure assets, are reported in the applicable governmental or business-type activities columns in the government-wide financial statements and the proprietary fund statement of net position. Infrastructure assets are defined as public domain capital assets such as roads, bridges, sidewalks, traffic signals and similar items that are immovable and of value only to the government unit. The City capitalizes all capital assets with a cost in excess of a $5,000 threshold and an estimated life greater than one year. Capital assets are recorded at historical cost or estimated historical cost if actual historical cost is not available. Donated capital assets are recorded at acquisition value at the date of donation. The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend asset lives are not capitalized but are expensed as incurred.

City of Coral Springs, Florida Notes to Financial Statements Note 1.

Summary of Significant Accounting Policies (Continued)

Capital assets are depreciated/amortized using the straight-line method over the estimated useful lives of the related assets. The ranges of the useful lives are as follows:

Asset Type Equipment Vehicles Building improvements Land improvements Other infrastructure Buildings Bridges Roads Right to use leased assets Subscription assets

Years 3 – 20 4 – 15 10 – 20 10 – 40 10 – 50 40 – 50 40 50 4–5 3

Leases: Lessee: The City is a lessee in real estate leases. The City recognizes a lease liability and an intangible right to use lease asset (leased asset) in the government-wide and proprietary financial statements. The City recognizes lease liabilities with an initial, individual value of $160,000 or more. At the commencement of a lease, the City initially measures the lease liability at the present value of payments expected to be made during the lease term. Subsequently, the lease liability is reduced by the principal portion of lease payments made. The lease asset is initially measured as the initial amount of the lease liability, adjusted for lease payments made at or before the lease commencement date, plus certain initial direct costs. Subsequently, the lease asset is amortized on a straight-line basis over its useful life. Lease assets are reported with other capital assets and lease liabilities are reported with long-term debt on the statement of net position. Lessor: The City is a lessor in real estate leases. The City recognizes a lease receivable and a deferred inflow of resources in the government-wide, proprietary and governmental fund financial statements. The City recognizes lease receivables with an initial, individual value of $160,000 or more. At the commencement of a lease, the City initially measures the lease receivable at the present value of payments expected to be received during the lease term. Subsequently, the lease receivable is reduced by the principal portion of lease payments received. The deferred inflow of resources is initially measured as the initial amount of the lease receivable, adjusted for lease payments received at or before the lease commencement date. Subsequently, the deferred inflow of resources is recognized as revenue over the life of the lease term.

City of Coral Springs, Florida Notes to Financial Statements Note 1.

Summary of Significant Accounting Policies (Continued)

All leases: Key estimates and judgments include how the City determines: (1) the discount rate it uses to discount the expected lease receipts to present value, (2) lease term, and (3) lease receipts.    

For leases where the City is a lessee, the City uses the interest rate charged by the lessor as the discount rate. When the interest rate charged by the lessor is not provided, the City generally uses its estimated incremental borrowing rate as the discount rate for leases. For leases where the City is a lessor, the City uses its estimated incremental borrowing rate as the discount rate for leases. The lease term includes the noncancellable period of the lease. Lease receipts included in the measurement of the lease receivable are composed of fixed payments from the lessee.

The City monitors changes in circumstances that would require a remeasurement of its lease and will remeasure the lease receivable and deferred inflows of resources if certain changes occur that are expected to significantly affect the amount of the lease receivable. Subscription-Based Information Technology Agreements (SBITAs): The City subscribes to various software programs. The City recognizes a subscription liability and an intangible right to use subscription asset (subscription asset) in the government-wide and proprietary financial statements. The City recognizes subscription liabilities with an initial, individual value of $160,000 or more. At the commencement of a subscription, the City initially measures the subscription liability at the present value of payments expected to be made during the subscription term. Subsequently, the subscription liability is reduced by the principal portion of subscription payments made. The subscription asset is initially measured as the initial amount of the subscription liability, adjusted for subscription payments made at or before the subscription commencement date, plus certain initial direct costs. Subsequently, the subscription asset is amortized on a straight-line basis over its useful life. Subscription assets are reported with other capital assets and subscription liabilities are reported with long-term debt on the statement of net position. Key estimates and judgments include how the City determines: (1) the discount rate it uses to discount the expected subscription payments to present value, and (2) subscription term.  

The City uses the interest rate charged by the vendor as the discount rate. When the interest rate charged by the vendor is not provided, the City generally uses its estimated incremental borrowing rate as the discount rate for subscription. The subscription term includes the noncancellable period of the subscription.

The City monitors changes in circumstances that would require a remeasurement of its subscription and will remeasure the subscription liability and subscription assets if certain changes occur that are expected to significantly affect the amount of the subscription liability.

City of Coral Springs, Florida Notes to Financial Statements Note 1.

Summary of Significant Accounting Policies (Continued)

Deferred outflows/inflows of resources: The Statement of Net Position includes a separate section for Deferred Outflows of Resources. This represents a consumption of net assets that applies to future periods and will be recognized as expenditures in the future period to which it applies. Currently, there are three items in this category reported on the Government-wide Statement of Net Position. The deferred charge on refunding is the difference between the carrying value of refunded debt and its reacquisition price. This amount is deferred and amortized over the shorter of the life of the refunded or the refunding debt. The deferred outflows related to pensions and OPEB are comprised of the following items – investment gains and losses, demographic experience, assumption changes and employer pension contributions made subsequent to the measurement date which will be recognized in the following fiscal year. The Statement of Net Position also includes a separate section for Deferred Inflows of Resources. This represents the acquisition of net assets applied to future periods and will be recognized as revenue in the future period to which it applies. Currently, there are three items in this category. Deferred inflow of pension and OPEB earnings is the difference between expected and actual earnings on investments, the difference between expected and actual experience and assumption changes as further explained in Notes 15 and 16. Deferred inflow of resources for leases is recognized as revenue over the life of the lease term as further explained in Note 8. Unearned revenue: Unearned revenue represents grants and similar items for which the City has not met all eligibility requirements imposed by the provider to allow for revenue recognition. Unavailable revenue: Unavailable revenue (a deferred inflow of resources) is recorded for governmental fund receivables that are not measurable and/or available. For this purpose, the City considers revenues to be available if they are collected within 60 days of the end of the fiscal year. Compensated absences: The City recognizes a liability for compensated absences for leave that (a) is attributable to services already rendered, (b) accumulates, and (c) is more likely than not to be used for time off or otherwise paid in cash or settled through noncash means. The City has adopted a LIFO flows assumption which aligns with how compensated absences are likely to be paid/settled. The liability for compensated absences is reported as incurred in the government-wide and proprietary fund financial statements. A liability for compensated absences is recorded in the governmental funds only for amounts due and payable. The liability for compensated absences includes salary-related benefits, where applicable. Vacation: This benefit is offered to all eligible full-time employees who shall accrue annual leave credits based on actual hours paid during the pay period, but not to exceed forty (40) hours per work week. Fire/EMS employees accrue annual leave at the hourly rate on a maximum of 96 hours worked per pay period. Employees may accrue annual leave to a maximum of 248 hours (312 hours for Fire/EMS). At separation, an employee shall be compensated for unused annual leave up to the maximum. Sick Leave: This benefit is offered to all eligible full-time employees who shall accrue sick leave based on actual hours paid during the pay period, but not to exceed forty (40) hours per week. Fire/EMS employees accrue sick leave on a maximum of 96 hours per two-week pay period. At separation, all employees will be paid for unused sick hours up to 480 hours (576 hours for Fire/EMS employees) at 25% of their hours balance. Employees who served in a management capacity (i.e. non-bargaining job classification) for at least three (3) years and have a total of ten (10) or more years of service with the city, will be paid for unused sick hours up to 480 hours at 50% of their hours balance.

City of Coral Springs, Florida Notes to Financial Statements Note 1.

Summary of Significant Accounting Policies (Continued)

Compensatory Leave: This benefit is offered to eligible regular nonexempt employes. Overtime hours shall be compensable by compensatory time or cash payment at the discretion of the applicable Department Director. Compensation by time or cash will be at a rate of 1.5 hours for each hour of overtime worked. At the discretion of the Department Director, compensatory time may be accrued up to a maximum of 120 hours. Once a nonexempt employee has earned and accrued compensatory time, it may not be cashed in for monetary payment during the period of employment. If an employee separates employment and has a balance of compensatory time, it will be eligible for payment at their current hourly rate of pay. For types of compensated absences that are dependent upon the occurrence of a sporadic event that affects a relatively small proportion of employees in any particular reporting period (parental leave, military leave, and jury duty), a liability is not recognized until the leave commences. For unlimited leave and holiday leave, a liability is recognized when the leave is taken. The liability for leave that has been used, but not yet paid, has been recognized in accrued salaries. The liability for leave that has not been used is recognized in compensated absences. Long-term obligations: In the government-wide and the proprietary funds financial statements, long-term debt and other long-term obligations are reported as liabilities in the applicable governmental activities, business-type activities or proprietary fund type statement of net position. Bonds payable are reported net of the applicable bond premiums or discounts. Bond premiums or discounts are amortized over the life of the bonds using the effective interest method. Deferred amounts on refunding are amortized over the shorter of the remaining life of the old debt or the life of the new debt using the effective interest method and reported as deferred outflows of resources. Issuance costs are expensed in the year of issuance, except for prepaid bond insurance costs. In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well as bond issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Payments to the refunded bonds escrow agent are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures. Payment of debt principal and interest are reported as debt service expenditures. Nature and purpose of fund balance: In the fund financial statements, governmental funds report fund classifications that comprise a hierarchy based primarily on the extent to which the City is bound to honor constraints on the specific purposes for which amounts in those funds can be spent. Amounts that are restricted to specific purposes either by: a) constraints placed on the use of resources by creditors, grantors, contributors or laws or regulations of other governments, or b) imposed by law through constitutional provisions or enabling legislation are classified as restricted fund balances. Amounts that can only be used for specific purposes pursuant to constraints imposed by the City Commission through an ordinance are classified as committed fund balances. Amounts that are constrained by the City’s intent to be used for specific purposes but are neither restricted nor committed are classified as assigned fund balances. The City Commission, by resolution, authorized the City Manager to assign fund balance. The City Commission may also assign fund balance as it does when appropriating fund balance to cover a gap between estimated revenue and appropriations in the subsequent year’s appropriated budget. Non-spendable fund balances include amounts that cannot be spent because they are either: a) not in spendable form, or b) legally or contractually required to be maintained intact. Unassigned fund balance represents fund balance that has not been assigned to other funds and that has not been restricted, committed, or assigned to specific purposes within the general fund. The general fund should be the only fund that reports a positive unassigned balance. In all other funds, unassigned is limited to negative residual fund balance. 43

City of Coral Springs, Florida Notes to Financial Statements Note 1.

Summary of Significant Accounting Policies (Continued)

When both restricted and unrestricted resources are available for use for a given purpose, it is the City’s policy to use restricted resources first, and then unrestricted resources as they are needed. When unrestricted resources are available for use for a given purpose, it is the City’s policy to use committed resources first, then assigned, and then unassigned, as they are needed. Fund balance stabilization policy: The City’s policy is to maintain an adequate General Fund balance to provide a “rainy day” fund for use in unforeseen, unbudgeted emergency situations, such as sustained declines in real estate values of more than 10% and/or property tax collections that decline by more than 5%; 1.5% decline in revenues or 1.5% increase in spending requirements imposed by the state or federal government or vital to maintaining day to day operations of the City (e.g. gas, electricity); unreimbursable natural disaster expenditures or emergency infrastructure failures costing greater than $1,500,000; or unforeseen litigation in excess of $1,000,000. The City Commission established a committed fund balance reserve with a target level of a minimum of 17% up to 25% of budgeted General Fund expenditures less capital for the following year. Stabilization funds may be used when the City Commission or City Manager recognizes a need to utilize the funds. If established by the City Manager, the specific need must be reported to the City Commission at their next meeting. The City Commission must approve a budget amendment authorizing use of the stabilization funds. When such a need is recognized as part of the budget process, the need and amount will be documented as part of that process and adopted as part of the budget. Should the balance drop below the target level of a minimum of 17% up to 25% of budgeted General Fund expenditures less capital, the City will develop a plan to replenish the account to the minimum level from net revenue surpluses in subsequent fiscal year(s) until the balance is restored to the minimum level. Net position (deficit): Net position (deficit) is the result of assets and deferred outflows of resources, less liabilities and deferred inflows of resources. Net position of the government-wide and proprietary funds is categorized as net investment in capital assets, restricted, and unrestricted. The first category represents capital assets, less accumulated depreciation and net of any outstanding debt associated with the acquisition of capital assets. Deferred outflows of resources and deferred inflows of resources that are attributable to the acquisition, construction or improvement of those assets or related debt are included in this component of net position. Restricted net position represents net position that is restricted by requirements of bond indentures and other externally imposed constraints. Unrestricted net position (deficit) represents the net position of the City that is not restricted for any project or purpose. Self-insurance: The City is partially self-insured for general and auto liability, property, workers’ compensation and employees’ health and dental. The operating funds are charged premiums by the City’s Self-Insurance Fund, which is accounted for as an Internal Service Fund. The accrued liability for estimated claims reported in the self-insurance fund represents an estimate of the eventual loss on claims including claims incurred but not yet reported. Pensions: For the purposes of measuring the net pension liability, net pension asset, deferred outflows of resources, deferred inflows of resources and pension expense, the fiduciary net position of the City’s General Employees’ Retirement Plan, Police Officers’ Retirement Plan and the Firefighters’ Retirement Plan (the Plans) and additions to/deductions from the Plans’ fiduciary net position have been determined on the same basis as they are reported by the Plans. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. Investments in real estate are recorded at market using valuation techniques such as the market approach or the income approach for which sufficient and reliable data is available.

City of Coral Springs, Florida Notes to Financial Statements Note 1.

Summary of Significant Accounting Policies (Continued)

The City applies GASB Statement No. 68, Accounting and Financial Reporting for Pensions – an amendment of GASB Statement No. 27, GASB 71, Pension Transition for Contributions Made Subsequent to the Measurement Date, GASB Statement No. 73, Accounting and Financial Reporting for Pensions and Related Assets That Are Not Within the Scope of GASB Statement 68 and GASB 82, Pension Issues—An Amendment of GASB Statements No. 67, No. 68 and No. 7, for the measurement, recognition and disclosure of pension expenditures or expenses, liabilities and assets as discussed in Note 15 Employee Retirement Plans. Other Post-Employment Benefits (OPEB): For the purposes of measuring the net OPEB liability, deferred outflows of resources and deferred inflows of resources, and OPEB expense, the fiduciary net position of the Other PostEmployment Trust and additions to/deductions from OPEB fiduciary net position have been determined on the same basis as they are reported by the OPEB plan. The City applies GASB Statement No. 75, Accounting and Financial Reporting for Post-Employment Benefit Plans Other Than Pensions, for the measurement, recognition and disclosure of OPEB expenditures or expenses, liabilities and assets as discussed in Note 16 Other Post-Employment Benefits for the employer. Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets/deferred outflows and liabilities/deferred inflows and disclosure of contingent assets/deferred outflows and liabilities/deferred inflows at the date of the financial statements and the reported amounts of revenue and expenditures/expenses during the reporting period. Actual results could differ from management’s estimates. Significant estimates in the financial statements include the liability for self-insured losses, other post-employment benefits and pension benefits. G. Other Policies Property taxes: The City’s property tax is levied, becomes a lien on real and personal property located in the City, and is recorded as a receivable on November 1 of each year based upon the assessed value established by the Broward County Property Appraiser as of the prior January 1. The City is permitted by Florida law to levy ad-valorem taxes for real and tangible personal property taxes up to $10 per $1,000 of assessed value, except for special benefits and debt service obligations which may be issued with the approval of those taxpayers subject to ad-valorem taxes. The assessed value as of January 1, 2024, upon which the 2025 fiscal year levy was based, was approximately $13.9 billion. Taxes were levied at $6.0232 per $1,000 for the General Fund and $0.1931 per $1,000 for the Debt Service Fund, for the year ended September 30, 2025. Taxes become payable on November 1st each year and are discounted 1% for each month for payment prior to the following March 1st. All unpaid taxes become delinquent on April 1st and are subject to the issuance of Tax Sale Certificates on June 1st. Tax collections for the year ended September 30, 2025, were 95.5% of the tax levy, net of discounts allowed. The City’s tax revenue is first paid to the Broward County Tax Collector who then remits such collections to the City based on a calendar prescribed by law. The City’s taxes are billed along with all other taxes due to Broward County taxing entities. The Tax Collector pays the City interest on monies held from the day of collection to the day of distribution. The City has no control over the investment program of the Tax Collector as this program is governed by Florida Statutes.

City of Coral Springs, Florida Notes to Financial Statements Note 2.

Fund Balances and Budgetary Control

Fund Balance Classifications: The following is the detail for fund balance classifications in the financial statements:

General Fund Fund balances Nonspendable Inventory Prepaid items Subtotal Restricted Fire safety Capital projects Charter school operations Law enforcement Public art Physical environment Affordable housing Subtotal Committed Stabilization fund Assigned Computer replacement program Facilities replacement Parks replacement Subsequent years’ expenditures Debt Service Capital projects Subtotal Unassigned General Fund Special Revenue Funds Capital Projects Funds Subtotal Total fund balances

807,513 15,000 822,513

Fire Fund $

Nonmajor Governmental Funds

General Capital Projects Fund -

Total Governmental Funds $

807,513 15,000 822,513

6,877,337 6,877,337

3,290,357 10,038,851 5,421,869 2,129,468 991,489 1,468,598 23,340,632

6,877,337 3,290,357 10,038,851 5,421,869 2,129,468 991,489 1,468,598 30,217,969

35,717,422

3,171,648 6,105,863 10,087,962 4,744,970 3,500,000 27,610,443

39,000,974 39,000,974

1,240,418 1,240,418

3,171,648 6,105,863 10,087,962 4,744,970 1,240,418 42,500,974 67,851,835

2,275,392 2,275,392 66,425,770

6,877,337

39,000,974

(723,428) (86,916) (810,344) 23,770,706

2,275,392 (723,428) (86,916) 1,465,048 $ 136,074,787

City of Coral Springs, Florida Notes to Financial Statements Note 3.

Cash, Cash Equivalents and Investments

General Authorization: The City maintains a cash and cash equivalents and investments pool that is available for use by all funds except for those in which the cash and investments must be segregated due to bond indenture or other legal restrictions such as in the Pension Trust Funds. Interest earned on pooled cash and investments is allocated to funds based on average daily balances. Cash and cash equivalents include cash on hand, amounts in demand and time deposits, and short-term investments with original maturity dates within three months of the date acquired by the City. Florida Statutes, Chapter 280, Florida Security for Public Deposits Act (the “Act”) prescribes the deposit authority of the City. City policy conforms to state statute. Deposits whose value exceeds the limits of federal depository insurance are entirely insured or collateralized pursuant to Florida Statutes, Chapter 280. Under the Act, every qualified public depository shall deposit with the Treasurer eligible collateral of the depository to be held subject to his or her order. The Treasurer, by rule, shall establish minimum required collateral pledging levels. The pledging level may range from 25% to 200% of the average monthly balance of public deposits depending upon the depository’s financial condition and establishment period. All collateral must be deposited with an approved financial institution. The Public Deposit Security Trust Funds have a procedure to allocate and recover losses in the event of default or insolvency. All City depositories at year-end were designated as qualified public depositories. All bank balances were covered by federal deposit insurance and the banks’ participation in the Florida Security for Public Deposits Act. Chapters 218 and 280, Florida Statutes, Section 2-8 City Code of Ordinances, and the adopted investment policy govern the City’s investment practices. Investment Policy Primary Government The City is authorized to invest in a wide range of securities that include certificates of deposit, obligations of the U.S. Treasury, its agencies and instrumentalities, prime commercial paper, fixed income mutual funds, money market mutual funds, state and local government taxable and tax-exempt debt, corporate notes and the State Board of Administration investment pool. Pension Plans The Pension Plans are authorized to invest in obligations of the U.S. Government, including mortgage-related securities, domestic and international equities, fixed income investments, commercial paper, banker’s acceptance and money market funds and mutual funds. The Police Plan may also invest in mortgage-related securities or asset backed securities not issued by the U.S. government or agency or instrumentality thereof, and State of Israel bonds. The investments of the plans are managed by independent investment managers in accordance with the plan provisions as established by each pension board. The General Employees’ Retirement Plan Board has adopted an investment policy to allocate up to 65% of fund assets to equities and the remaining balance invested in fixed income securities and cash equivalents.

City of Coral Springs, Florida Notes to Financial Statements Note 3.

Cash, Cash Equivalents and Investments (Continued)

The Police Officers’ Retirement Plan Board has adopted the following asset allocation policy as of September 30, 2025: Asset Class Domestic equity Fixed income International equity Infrastructure Real estate Private equity Senior direct lending

Target Allocation 50% 10% 15% 5% 10% 5% 5%

The Firefighters’ Retirement Plan Board has adopted the following asset allocation policy as of September 30, 2025: Asset Class Domestic equity Fixed income International equity Infrastructure Real estate Private equity Direct Lending Global Tactical Asset Allocation (GTAA)

Target Allocation 45% 10% 15% 5% 10% 5% 5% 5%

On September 30, 2025, cash and investments of the primary government and the fiduciary funds consisted of the following:

Deposits in financial institutions Cash on hand Investments Total

Bank Balance 10,457,043

Carrying Value $ 9,345,738 6,265 958,537,660 $ 967,889,663

Statement of Net Position: Cash and cash equivalents – unrestricted Cash and cash equivalents – restricted Investments – unrestricted Investments – restricted

$ 118,760,861 3,979,690 104,773,265 122,631

Fiduciary Funds: Cash and cash equivalents Investments Total cash and cash equivalents and investments

13,111,126 727,142,090 $ 967,889,663

City of Coral Springs, Florida Notes to Financial Statements Note 3.

Cash, Cash Equivalents and Investments (Continued)

Interest Rate Risk. Interest rate risk is the risk that the changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates. Primary Government As a means of limiting its exposure to fair value losses arising from rising interest rates, the City’s investment policy limits the City’s investment portfolio to maturities of 10 years or less with no more than 50% of the City’s investment portfolio in maturities of more than three years. As of September 30, 2025, the average maturity of the City’s investment portfolio did not exceed three years. Pension Funds The established performance objectives require investment maturities to match anticipated cash-flow requirements to pay obligations when due. The Plans do not have a formal investment policy that limits investment maturities as a means of managing their exposure to fair value losses arising from increasing interest rates. On September 30, 2025, the primary government and pension funds had the following investments subject to interest rate risk using the segmented time distribution method:

Investment Type Money Market Mutual Funds U.S. Government Securities Municipal Debt Asset-Backed Securities Corporate Bonds Investments in Money Market and Bond Mutual Funds for 401(a) Plans

Less Than 1 Year $ 126,277,460 23,906,804 812,038 5,881,741

Remaining Maturity (in Years) More Than 1-5 Years 6-10 Years 10 Years $ $ $ 73,082,255 6,347,680 22,888,579 211,695 208,526 2,193,249 512,340 804,778 18,937,361 3,573,119 255,641

3,463,496 $ 160,341,539

25,624,691 $ 120,049,251

Instruments not subject to Interest Rate Risk: Equity securities Other investments Total Investments

8,828,688 $ 19,261,827

$ 24,157,524

Total $ 126,277,460 126,225,318 1,232,259 3,510,367 28,647,862 37,916,875 323,810,141 485,869,946 148,857,573 $ 958,537,660

City of Coral Springs, Florida Notes to Financial Statements Note 3.

Cash, Cash Equivalents and Investments (Continued)

Credit Risk. Credit risk exists when there is a possibility the issuer or other counterparty to an investment may be unable to fulfill its obligations. On September 30, 2025, the primary government had the following investments subject to credit risk as noted by their credit rating: Primary Government Investment Type Rating AAAm S&P AAA S&P AA+ S&P AA S&P AA- S&P A+ S&P A S&P

Money Market Mutual Funds $ 113,166,342 $ 113,166,342

Municipal Debt $

275,000 456,694 292,039 1,023,733

Corporate Bonds $ 1,223,760 1,577,200 7,398,035 5,175,750 $ 15,374,745

U.S. Government Securities * $

Total 113,166,342 1,498,760 456,694 1,577,200 292,039 7,398,035 5,175,750 129,564,820 88,719,632 218,284,452

* The rating table above does not include U.S. Government Securities as these securities are backed by the full faith and credit of the U.S. Government. State law limits investments in commercial paper to the top two ratings used by nationally recognized statistical rating organizations (“NRSROs”). The City’s policy is to limit its investments in commercial paper to the top rating issued by NRSROs, to limit its investments in State and Local Government Debt and Fixed Income Mutual / Money Market Funds to funds with underlying securities rated at least “A” by NRSROs and to limit its investments in corporate bonds to an “A”, at the time of purchase, by NRSROs. The ratings of the investments held at year-end are shown above. All were rated within the City’s policy guidelines, if applicable, when purchased.

City of Coral Springs, Florida Notes to Financial Statements Note 3.

Cash, Cash Equivalents and Investments (Continued)

Pension and OPEB Funds On September 30, 2025, the Pension and OPEB Trust funds had the following investments subject to credit risk as noted by their credit rating: Money Market Mutual Funds

Rating AAAm S&P AAA S&P AA+ S&P AA S&P AA- S&P A+ S&P A S&P A- S&P BBB+ S&P BBB S&P BBB- S&P 5 stars Morningstar 4 stars Morningstar 3 stars Morningstar Not rated

13,111,118 13,111,118

Investment Type Asset Backed Securities

Municipal Debt $

208,526 208,526

2,160,849 1,349,518 3,510,367

Corporate Bonds $

63,177 388,546 1,525,096 2,794,256 5,384,398 2,640,807 331,499 145,338 13,273,117

Bond Mutual Fund $

25,624,693 4,045,372 4,783,312 3,463,498 37,916,875

U.S. Government Securities * Florida Municipal Investment Trust** Real Estate Commingled Funds *** Limited Partnerships ***

Total $

13,111,118 2,160,849 25,896,396 388,546 1,525,096 2,794,256 5,384,398 2,640,807 331,499 4,045,372 4,783,312 4,958,354 68,020,003

37,505,686 9,294,010 50,256,430 71,141,036 $ 236,217,165

The rating table above does not include U.S. Government Securities as these securities are backed by the full faith and credit of the U.S. Government.

The City invested in the Florida Municipal Pension Trust Fund (FMPTF) to provide funding for other postemployment benefits offered by the City. The FMPTF is managed through the Florida Municipal Investment Trust, a Local Government Investment Pool. The Local Government Investment Pool is not rated.

*** The Police and Fire Pension Plans invest in Real Estate Commingled Funds and Limited Partnerships which are not rated.

City of Coral Springs, Florida Notes to Financial Statements Note 3.

Cash, Cash Equivalents and Investments (Continued)

The Pension Plans utilize portfolio diversification to limit investments to the highest rated securities as rated by nationally recognized rating agencies. The Pension Plans’ investment policies have no limits imposed on fixed income securities issued directly by the U.S. Government or any agency or instrumentality thereof. General Employees’ Plan The investment policy limits corporate fixed income securities to investment grade or higher by Standard and Poor’s, Moody’s or Fitch. On September 30, 2025, the portfolio met the credit rating limitations of the investment policy. Police Plan The Police Plan limits corporate fixed income securities to the top four ratings classification by a major rating service and limits money market funds to a rating of “A1” by Standard & Poor’s or “P1” by Moody’s. On September 30, 2025, the portfolio met the credit rating limitations of the investment policy. Firefighters’ Plan The Fire Plan limits corporate fixed income securities to investment grade or higher as reported by a major credit rating service and limits money market funds to a rating of “A1” or higher by Standard & Poor’s or “P1” by Moody’s. On September 30, 2025, the portfolio met the credit rating limitations of the investment policy. Custodial Credit Risk. For an investment, custodial credit risk is the risk that, in the event of the failure of the counterparty, the government or Plan will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party. Primary Government The City’s investment policy requires securities, except for securities related to overnight repurchase agreements, be held by a third-party custodian and be properly designated as an asset of the City and held in the City’s name. As of September 30, 2025, the City’s investment portfolio was held with a third-party custodian, and designated as City assets, as required by the City’s investment policy. Pension Funds The Pension Plans do not have an investment policy for custodial credit risk. As of September 30, 2025, each of the Pension Plans’ investment portfolios was held with a third-party custodian in the Pension Plans’ name. Concentration of Credit Risk. Concentration risk is the risk of loss attributed to the magnitude of the government’s or Plan’s investment in a single issuer. Primary Government The City limits the amount that can be invested in any one issuer of Federal Instrumentalities to 25% of the portfolio. The City has investments in Federal Home Loan Bank and Federal Farm Credit Bank bonds that represent 11% and 6%, respectively, of the City’s investments.

City of Coral Springs, Florida Notes to Financial Statements Note 3.

Cash, Cash Equivalents and Investments (Continued)

Pension and OPEB Funds The Police and Firefighters’ Plan limits corporate common stock and convertible bonds to 75% of Plan assets at market and foreign securities to 25% of Plan assets at market. There were no foreign securities held by the Plans at year end. There were no investments in a single issuer that represent more than 5% of the General, Police, Fire or the OPEB Plans’ investments. Restricted Cash Restricted Cash on September 30, 2025, consists of the following:

Restricted Cash $ 1,657,771 478,648

Water and Sewer Customer Deposits Sales Tax Surtax Unspent proceeds for the following debt issuances: Special Obligation Bonds, Series 2017 Special Obligation Note, Series 2019 Special Obligation Note, Series 2020 Water and Sewer Revenue Bonds, Series 2015 Total

33,992 1,441,284 178,906 189,089 3,979,690

Fair Value Hierarchy GASB Statement No. 72, Fair Value Measurement and Application, requires that investments be categorized according to the fair value hierarchy established by this Statement. The hierarchy is based on valuation inputs used to measure the fair value of the asset. Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable inputs; Level 3 inputs are significant unobservable inputs. Money market and equity securities classified in Level 1 of the fair value hierarchy are valued using prices quoted in active markets for identical securities. Governmental bonds, corporate bonds, other fixed income instruments, and international bonds classified in Level 2 of the fair value hierarchy are valued based on significant other observable inputs, which may include, but are not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities or other market corroborated inputs. Level 3 assets include financial instruments whose value is determined using pricing models, discounted cash flows methodologies or similar techniques, as well as instruments for which the determination of fair value requires significant management judgement. Primary Government The Primary Government’s investments in U.S. Government securities ($88,719,632) are considered Level 1 and Municipal debt ($1,023,733) and Corporate Bonds ($15,374,745) are considered Level 2. The money market funds ($113,116,342) are measured at amortized cost. 53

City of Coral Springs, Florida Notes to Financial Statements Note 3.

Cash, Cash Equivalents and Investments (Continued)

Pension Funds The Pension and Other Post-Employment Benefit Plans’ investments are categorized as follows according to the GASB 72 fair value hierarchy as of September 30, 2025:

Investments Debt Securities: U.S. Government Securities Municipal Debt Asset-Backed Securities Corporate Bonds Investments in Bond Mutual Funds for 401(a) Plans Equity Securities: Common Stocks Common Stock Mutual Funds Other Investments: Multi-asset Mutual Funds Total Investments by Fair Value Level

Fair Value Measurements Using Quoted Prices in Active Markets for Identical Significant Other Assets Observable Inputs (Level 1) (Level 2)

Balance (in thousands) $

Measured at net asset value: Real-Estate Commingled Funds: American Core Realty Fund Invesco Emerging Markets Equity JPMCB Special Situation Property Fund

37,505,686 208,526 3,510,367 13,273,117

159,313,879 326,556,067

159,313,879 132,129,334

194,426,733

18,166,097 596,450,614

9,294,010

Measured at amortized costs Money market funds

7,580,789 5,584,257 71,141,036

Investment Trust: Florida Municipal Investment Trust

37,505,686 208,526 3,510,367 13,273,117

37,916,875

4,481,672 5,196,072 4,645,783 1,075,601 3,545,695 23,503,190 15,527,977

Bloomfield Capital Income Fund V

37,916,875

31,867,557 33,165 18,355,708 50,256,430

Limited Partnerships: Affiliated Housing Impact Fund Capital Dynamics Global Second VI Serenitas Credit Gamma Fund Taurus Investment Holdings PA Secondary Fund VI IFM Global Infrastructure ABS Global Investments Churchhill Middle Market Senior Loan Fund V

Significant Other Unobservable Inputs (Level 3)

13,111,126 740,253,216

329,360,088

18,166,097 267,090,526

City of Coral Springs, Florida Notes to Financial Statements Note 3.

Cash, Cash Equivalents and Investments (Continued)

The American Core Realty Fund is a real-estate fund whose purpose is to actively manage a core portfolio of primarily equity real estate investments located in the United States. The fund is a diversified open-end commingled fund invested in high-quality core office, industrial, retail and multi-family properties nationwide emphasizing strong income and the potential for long-term appreciation. The fund targets major metropolitan markets that are innovation hubs, have a concentration of globally competitive industries, and highly educated populations. Requests for redemptions of units in the fund may be made at any time, with 10 business day’s notification by submitting a redemption notice form signed by a representative of the Plan and are effective at the end of the calendar quarter in which the request is received. Invesco Emerging Markets Equity is an open-ended fund that invests in the equity securities of issuers located in emerging market countries. Invesco manages investments across a range of asset classes, investment styles and geographies, with a significant presence in the retail and institutional markets in North America, Europe, the Middle East and Africa and Asia-Pacific. JPMCB Special Situation Property Fund is a real-estate fund whose purpose is to actively manage a core and valueadded portfolio of primarily equity real-estate investments located in the United States. The fund targets real estate investments that seek to provide a moderate level of current income and high residual property appreciation. The fund’s investment portfolio spans major markets and property types and includes a balanced mix of stabilized properties and value-added properties with appreciation potential. Requests for redemptions of units in the fund may be made at any time, with 60 business day’s notification by submitting a redemption notice form signed by a representative of the Plan and are effective at the end of the calendar quarter in which the request is received. Affiliated Housing Impact Fund is a close-ended real estate fund focused on building workforce housing in South Florida. The fund is managed by Affiliated Development. The fund is located in Fort Lauderdale, Florida and invests in multi-family properties and seeks real-estate related impact investment. Capital Dynamics Global Secondaries VI (US), L.P. (the Partnership.) was formed on November 17, 2021, as a Delaware limited partnership. As of December 31, 2022, the Partnership has committed USD $231,737,500 to Dynamics Global Secondaries VI Holdings, L.P. (the Aggregator.). The Aggregator is a holding company which intends to acquire mature interests in buyout, growth capital and other private equity funds. The investment strategy emphasizes building a diversified portfolio of secondary investments, but the Aggregator also intends to acquire a limited number of primary fund investments. The Aggregator may also acquire direct investments when acquired as part of a secondary transaction. Serenitas Credit Gamma Fund was organized for the purpose of trading and investing in a broad range of listed and unlisted securities. The Fund invests substantially all of its assets through a master-feeder structure in Serenitas Credit Gamma Master Fund, LP (the “Master Fund”), an investment company that has the same investment objectives as the Fund. Taurus Investment Holdings is a close-ended Fund. The Funds Private Equity manager will fund some direct private equity investing, as well as some secondary investing, and will fund co-investments as well. The funds focus on North American lower middle market leveraged buyout, private credit and venture capital opportunities. The firm’s investment strategy involves acquiring, holding, funding and disposing of interests in private investment funds and co-investment opportunities.

City of Coral Springs, Florida Notes to Financial Statements Note 3.

Cash, Cash Equivalents and Investments (Continued)

PA Secondary Fund VI, LP (the “Fund”), a Delaware limited partnership, was organized on September 10, 2019, held its first close on November 26, 2019, and commenced operations on February 11, 2020. The Fund was for the purpose of investing in private equity fund interests, structured solutions, direct company shares, and other emerging opportunities in the secondary markets (“Investment Funds”). PASF VI GP, LLC is the “General Partner of the Fund. Apogem Capital, LLC (formerly known as PA Capital), serves as the investment manager to the Fund. IFM Global Infrastructure is a partnership that operates as a feeder in a master-feeder structure. The partnership invests substantially all of its assets in IFM Global Infrastructure Fund (the Master Fund), which is a Cayman Islands unit trust registered under the Mutual Funds Law of the Cayman Islands. The Master Fund’s investment objective, which is the same investment objective as the partnership, is to acquire and maintain a diversified portfolio of global infrastructure investments (with strong market positions, predictable regulatory environments, high barriers to entry, limited demand elasticity and long lives) that realizes a 10% annual return over the long-term (10+ years), which will range between 8%-12% per annum depending on the stage of the market cycle. All or a portion of the capital account balances may be redeemed, subject to prior written notice given to the partnership. ABS Global Investments was founded in 2002 specializing in equity investing. ABS Global Emerging Markets Long/Short strategy aims to deliver results in line with emerging markets equities with less risk over a full market cycle. The strategy targets a net exposure of 50%-75% and comprises local specialists across a range of styles and exposure biases. Built from the bottom up, underlying managers are selected based on their ability to deliver stock specific alpha and flexibility to adapt to the market environment. Churchill Middle Market Senior Loan Fund V is a 2023 vintage direct lending fund managed by Churchill Asset Management. The fund is located in New York, New York and will invest in the United States. The fund seeks to generate current income by investing in moderately levered first lien senior secured loans to private equity-backed United States middle market companies with EBITDA between USD 10- USD100 million. The Florida Municipal Investment Trust (“FMIT”) is an intergovernmental investment pool created by interlocal agreement under F.S. 163.01. The FMIT fund is designed to provide an investment diversification option, specifically to meet the short-term investment needs of Florida local governments. (e.g., bond proceeds, project funds, cash reserves). Investments consists primarily of U.S. Treasuries, Mortgages, Commercial Paper, Government Related Securities, Asset-Backed Securities rated AAA or A-1, and Corporate Bonds rated A or better by Fitch Ratings’. The fund provides return in the form of share value. Bloomfield Capital Income Fund V is a 2018-vintage private real estate debt fund from Bloomfield Capital Holdings, LLC, focusing on income generation through investments in various property types like multifamily, retail, and office, using both debt and equity, structured as a private fund with Series offerings (A, B, C, etc.) for sophisticated investors. There are no unfunded commitments at year end for any of the investments listed above. Discretely Presented Component Unit At year-end, the carrying amount of the Community Redevelopment Agency’s deposits was $2,897,429 and the bank balance for these deposits totaled $2,900,929. Bank balances covered by federal deposit insurance totaled $250,000 with the remaining funds insured by the bank’s participation in the Florida Security for Public Deposits Act. The Community Redevelopment Agency does not have a separate deposit and investment policy and it follows the deposit and investment policies of the City as discussed previously. 56

City of Coral Springs, Florida Notes to Financial Statements Note 4.

Receivables and Payables

Receivables for the City’s governmental individual major and nonmajor funds in the aggregate and the internal service funds, including the applicable allowances for uncollectible accounts, are as follows:

Governmental Receivables: Accounts Allowance for uncollectible accounts Net governmental receivables

General

Nonmajor Governmental Funds

Fire

Internal Service

Total

12,119,203 (5,732,186)

4,275 (3,350)

10,536 -

68,007 (12,781)

12,202,021 (5,748,317)

6,387,017

925

10,536

55,226

6,453,704

Receivables for the City’s business-type activities and allowances for uncollectible accounts are as follows: Water and Sewer

Business-Type Receivables: Accounts Unbilled usage fees Allowance for uncollectible accounts receivable Net business-type receivables

3,154,704 1,679,912 (514,887) 4,319,729

Payables at year-end for the City’s governmental individual major and nonmajor funds, and internal service funds in the aggregate, are as follows:

Governmental Payables: Vendors Retainage Salaries and benefits Net governmental payables

General

Fire

General Capital Projects

Nonmajor Governmental Funds

Internal Service

Total

$ 2,293,691 2,692,824

65,559 615,981

$ 1,286,689 124,028

689,182 188,148 12,760

827,813 56,233

$ 5,162,934 312,176 3,377,798

$ 4,986,515

681,540

$ 1,410,717

890,090

884,046

$ 8,852,908

City of Coral Springs, Florida Notes to Financial Statements Note 4.

Receivables and Payables (Continued)

Payables for the City’s business-type activities are as follows: Water and Sewer

Business-Type Payables: Vendors Salaries and benefits Other Net business-type payables

Note 5.

Nonmajor Enterprise Funds

1,259,225 127,901 3,580 1,390,706

845,216 53,679 39,965 938,860

Total $

2,104,441 181,580 43,545 2,329,566

Interfund Transfers

Transfers The composition of interfund transfers for the year ended September 30, 2025, is as follows:

Transfers Out General Fire Capital Projects Nonmajor Governmental Internal Service Water and Sewer Nonmajor Enterprise Total Transfers In

General

Fire

321,625 469,878 791,503

$ 3,037,871 2,037 $ 3,039,908

Transfers In General Capital Projects $

8,731,221 1,660,083 77,278 51,187 300,000 $ 10,819,769

Nonmajor Governmental $

8,782,039 967,333 245,980 83,273 27,837 131,050 645,615 $ 10,883,127

Internal Service

Total Transfers Out

105,000 105,000

$ 20,551,131 2,732,416 245,980 484,213 79,024 131,050 1,415,493 $ 25,639,307

The transfer to the Fire Fund is made to cover ad-valorem and non-ad valorem taxes related to churches and schools that are not assessed due to those entities having tax exempt status. The transfers to the Nonmajor Governmental Funds include approximately $10.1 million to the Debt Service Fund to fund principal, interest and lease payments and $0.5 million to fund Museum operations. Transfers to the General Capital Projects fund will be used for current and future City planned capital projects.

City of Coral Springs, Florida Notes to Financial Statements Note 6.

Capital Assets and Construction Commitments

Capital assets activity for the year ended September 30, 2025, is as follows: Primary Government Governmental Activities (Including Beginning Internal Service Funds) Balance Capital assets not being depreciated/amortized: Land $ 32,672,457 Public Art 3,482,651 Construction in progress 32,830,509 Total capital assets not being depreciated/amortized 68,985,617 Capital assets being depreciated/amortized: Land improvements 57,691,176 Buildings and improvements 156,891,789 Infrastructure 123,615,758 Equipment 80,542,253 Right to use lease assets – building 1,233,236 Subscription assets 2,304,846 Total capital assets being depreciated/amortized 422,279,058 Less accumulated depreciation/amortization for: Land improvements 44,408,671 Buildings and improvements 75,365,130 Infrastructure 91,951,905 Equipment 59,623,815 Right to use lease assets – building 622,339 Subscription assets 956,711 Total accumulated depreciation/amortization 272,928,571 Total capital assets being depreciated/amortized, net 149,350,487 Governmental activities $ 218,336,104 capital assets, net

Increases/ Transfers $

1,100,920 9,018,230

Decreases/ Transfers $

(207,664) (18,222,501)

Ending Balance $

33,565,713 3,482,651 23,626,238

10,119,150

(18,430,165)

60,674,602

288,909 16,086,667 4,354,930 18,928,774 292,391 4,803,411

(156,427) (585,047) (43,143) (9,790,488) -

57,823,658 172,393,409 127,927,545 89,680,539 1,525,627 7,108,257

44,755,082

(10,575,105)

456,459,035

1,739,666 3,913,370 3,090,870 6,946,606 224,824 1,577,748

(156,427) (585,047) (43,143) (9,704,041) -

45,991,910 78,693,453 94,999,632 56,866,380 847,163 2,534,459

17,493,084

(10,488,658)

279,932,997

27,261,998

(86,447)

176,526,038

37,381,148

(18,516,612)

237,200,640

City of Coral Springs, Florida Notes to Financial Statements Note 6.

Capital Assets and Construction Commitments (Continued)

Business-Type Activities Capital assets not being depreciated: Land Construction in progress Total capital assets not being depreciated Capital assets being depreciated: Land improvements Buildings Infrastructure Equipment Total capital assets being depreciated Less accumulated depreciation for: Land improvements Buildings Infrastructure Equipment Total accumulated depreciation Total capital assets being depreciated, net Total business-type activities capital assets, net

Beginning Balance $

198,586 12,444,954

Increases/ Transfers $

349,077

Decreases/ Transfers $

(5,043,688)

Ending Balance $

198,586 7,750,343

12,643,540

349,077

(5,043,688)

7,948,929

213,338 18,226,626 93,904,888 3,186,347

6,942,166 331,187

(52,510)

213,338 18,226,626 100,847,054 3,465,024

115,531,199

7,273,353

(52,510)

122,752,042

118,339 15,515,114 48,643,674 2,200,075 66,477,202

12,986 537,960 4,224,833 273,332 5,049,111

(52,510) (52,510)

131,325 16,053,074 52,868,507 2,420,897 71,473,803

49,053,997

2,224,242

51,278,239

61,697,537

2,573,319

(5,043,688)

59,227,168

City of Coral Springs, Florida Notes to Financial Statements Note 6.

Capital Assets and Construction Commitments (Continued)

Depreciation/amortization expense was charged to functions/programs of the primary government as follows:

Balance Governmental activities: General government Public safety: Police Fire Parks and recreation Public works Development services Educational and cultural programs Total depreciation/amortization expense – governmental activities Business-type activities: Water and sewer Stormwater Total depreciation expense – business-type activities

2,457,459

5,094,526 1,568,256 2,794,113 3,836,101 291,624 1,451,005 17,493,084

$ $

4,713,216 335,895 5,049,111

Construction Commitments The City has active construction projects as of September 30, 2025. The significant projects and related construction commitments as of September 30, 2025, are as follows:

Project Fiber optic upgrade Water treatment plant upgrade Park renovations Sewer rehabilitation K-9 building construction Curbing on Sample Fire station 64 Traffic signals stations 80 & 71 Roadway resurfacing

Spent-to-Date $ 1,447,977 1,997,597 2,089,336 204,897 1,904,288 4,793,201 875,639 62,288 $ 13,375,223

Remaining Commitment $ 3,390,520 2,406,101 1,561,834 533,977 443,230 366,776 197,449 183,751 106,603 $ 9,190,241

City of Coral Springs, Florida Notes to Financial Statements Note 6.

Capital Assets and Construction Commitments (Continued)

The City has the following encumbrances as of September 30, 2025:

Encumbrances by Fund Governmental Funds Capital Projects Fund Nonmajor Governmental Funds Enterprise Funds Water and Sewer Fund

2,935,564 3,314,599 2,940,078 9,190,241

$ Note 7.

Leases Receivable

The City leases land and building to third parties. The following is a summary of the leases in effect at September 30, 2025, in which the City is a lessor. Lease Term Ending Beginning

Lease Type (count) Governmental Activities 2021-2023 Land (30) Building (1) 2021

Note 8.

2024-2076 2029

Discount Rate

9/30/2025 Balance

0.54%-4.15% 1.28%

$ 38,413,485 5,196,529 $ 43,610,014

Fiscal Year 2025 Revenue Rent Interest

Due Within One Year $ $

817,946 1,361,474 2,179,420

1,642,747 1,352,556 2,995,303

$ $

777,041 74,466 851,507

Deferred Outflows and Inflows of Resources

The following are the balances that comprise deferred inflows and outflows of resources at year-end. Governmental Fund Statements Deferred outflows of resources Deferred charge on refunding Pensions (Note 15) OPEB (Note 16) Total deferred outflows of resources Deferred inflows of resources Unavailable ambulance transport revenue Unavailable grant revenue Municipal surtax Leases (Note 7) Pensions (Note 15) OPEB (Note 16) Total deferred inflows of resources

$ $

Enterprise Fund Statements

1,280,221 1,340,176 86,915 41,772,780 44,480,092

Government-wide Statement

476,420 476,420

1,037,936 1,037,936

10,348 37,620,212 6,808,456 44,439,016 41,772,780 28,212,340 14,475,322 84,460,442

City of Coral Springs, Florida Notes to Financial Statements Note 8.

Deferred Outflows and Inflows of Resources (Continued)

On September 27, 2013, the City entered into a 38-year lease assignment and non-exclusive easement agreement with a third-party in exchange for a lump sum cash payment of $3,359,510. This agreement assigns rent for one tenant’s current contract on four cell towers located on City property. Should the tenant terminate any of the leases, the third party can find a single replacement for the tenant for that specific site. The City has no continuing responsibility for the generation of lease revenue at these sites. The agreement also grants non-exclusive access to certain easements over the property. The lump sum payment is being recognized as revenue over a 14-year period ending in 2028. A balance of $931,985 is included in Deferred inflows of resources – Leases to reflect the unearned revenue from this agreement. Note 9.

Deposits and Unearned Revenue

The following are the balances that comprise deposits and unearned revenue at year end. Reflected on: Governmental Business-Type Activities Activities Deposits and unearned revenue American Rescue Plan grant funds received in advance Occupational license fees received in advance Grant funding received in advance Unearned revenue Utility deposits Other deposits and unearned revenue Deposits payable Total deposits and unearned revenue

General Fund Deposits and unearned revenue American Rescue Plan grant funds received in advance Occupational license fees received in advance Grant funding received in advance Unearned revenue Other deposits and unearned revenue Total deposits and unearned revenue

1,178,289 1,178,289 2,411,669 $ 3,589,958

3,382,537 1,178,289 5,232,469 9,793,295 3,580,608 3,580,608 13,373,903

1,671,445 1,671,445 1,671,445

Fire Fund

Non-major Governmental Funds

Total

272,286 272,286

$ 3,382,537 5,232,469 8,615,006 896,653 $ 9,511,659

$ 3,382,537 1,178,289 5,232,469 9,793,295 3,580,608 $ 13,373,903

City of Coral Springs, Florida Notes to Financial Statements Note 10.

Long-Term Liabilities

The following is a summary of changes in the City’s bonded and other indebtedness for the year ended September 30, 2025: Beginning Governmental Activities (Including Balance Internal Service Funds) (as restated) Bonds, notes, lease and subscriptions payable: Direct placement bonds & notes General obligation bonds $ 5,612,923 General obligation refunding bonds 4,437,322 Special obligation bonds 8,286,000 Special obligation notes 2,570,000 Capital revenue bonds 1,374,000 Capital revenue notes 2,211,440 Total direct placement bonds & notes 24,491,685 Special obligation bonds 41,950,000 Financed purchases 3,829,000 Lease payable 636,473 Subscriptions payable 946,307 Total bonds, notes, lease and subscriptions 71,853,465 Bond premium (discount) 4,509,361 Total bonds, notes, lease and subscriptions, net 76,362,826 Compensated absences 14,199,836 Total governmental activity long-term liabilities $ 90,562,662 Beginning Balance (as restated)

Business-Type Activities Bonds and loans payable: Revenue bonds – direct placement $ 3,710,000 State revolving fund loans payable 7,117,088 Total bonds and loans 10,827,088 Compensated absences 508,292 Total business-type activity long-term liabilities $ 11,335,380

Additions

292,391 4,803,411

Ending Balance

Reductions

(880,911) (1,450,388) (1,735,000) (493,000) (1,374,000) (343,608) (6,276,907) (2,750,000) (602,000) (217,715) (1,500,799)

4,732,012 2,986,934 6,551,000 2,077,000 1,867,832 18,214,778 39,200,000 3,227,000 711,149 4,248,919

Due Within One Year

902,052 1,479,744 593,000 503,000 353,228 3,831,024 2,835,000 616,000 205,347 1,417,145

5,095,802 -

(11,347,421) (631,046)

65,601,846 3,878,315

8,904,516 -

5,095,802 1,751,828

(11,978,467) -

69,480,161 15,951,664

8,904,516 1,435,649

$ 6,847,630

$ (11,978,467)

$ 85,431,825

$ 10,340,165

Additions

Reductions

Ending Balance

Due Within One Year

54,978

(495,000) (799,936) (1,294,936) -

3,215,000 6,317,152 9,532,152 563,270

54,978

(1,294,936)

$ 10,095,422

505,000 822,162 1,327,162 50,694

$ 1,377,856

For governmental activities, the General Fund generally liquidates compensated absences, net pension liabilities and net OPEB liabilities. Internal Service Funds predominately serve the governmental funds. Accordingly, their compensated absences totaling $273,550 are included as part of the above totals for governmental activities. The opening balances of Compensated absences have been restated for the implementation of GASB 101, Compensated Absences. The annual change for Compensated absences is a net number.

City of Coral Springs, Florida Notes to Financial Statements Note 10.

Long-Term Liabilities (Continued)

Governmental activities bonds and notes outstanding on September 30, 2025, consist of the following: Amount Issued

Purpose of Issue Governmental activities: General obligation bonds: Series 2013* Series 2015*

Refunding Construction of Public Safety Facilities Total general obligation bonds

2.18%

12,450,000 26,752,475

4,732,012 7,718,946

2.40%

18,460,000

5.00%

3,770,000

1,905,000

2.05 – 2.15%

10,000,000

6,551,000

2.50%

22,135,000

18,835,000

2 - 5%

Acquire and install an enterprise resource software system Total special obligation bonds and notes

4,800,000 59,165,000

2,077,000 47,828,000

2.07%

Revenue notes and bonds: Series 2010 Capital revenue note* Capital Improvements Total revenue bonds and notes

5,913,000 5,913,000

1,867,832 1,867,832

Series 2016B Series 2017*

Series 2020

Construction of Municipal Complex Construction of Municipal Parking Garage Acquire, renovate and equip a building for governmental purposes Construction and renovation of Westside Campus and Fire Station No. 64 Campus

14,302,475

Interest Rate

2,986,934

Special obligation bonds: Series 2016A

Amount Outstanding

Special obligation notes: Series 2019*

Total for governmental activities

*Direct placement debt

91,830,475

57,414,778

5.09% with a 45% IRS subsidy

City of Coral Springs, Florida Notes to Financial Statements Note 10.

Long-Term Liabilities (Continued)

Financed Purchases In June 2019, the City entered into a purchase agreement to finance the installation of synthetic turf for seven municipal fields at City parks. Payments commence in October 2019. Under the terms of the agreement, which is accounted for as a financed purchase, the City will make semi-annual interest payments and annual principal payments at an interest rate of 2.296% over a period of 10 years. As of September 30, 2025, the City’s liability totaled $3,227,000. Business-type activities bonds and loans outstanding on September 30, 2025, consist of the following: Business-type activities: Water and Sewer Revenue Bonds: Series 2012* State Revolving Loans: DW0603010 DW0603020 DW0603030 DW061620 DW061630 WW061610 WW822020

Purpose of Issue Capital Improvement

Original Loan Amount/Awarded

Amount Outstanding

Interest Rate

8,745,000

$ 3,215,000

2.78%

2,286,235 665,473 1,367,358 475,016 898,658 492,885 131,527 6,317,152 $ 9,532,152

2.57-2.82% 2.79-2.82% 2.79-2.82% 3.06% 2.50% 2.56% 2.72%

5,142,514 1,809,728 2,983,328 1,119,826 2,068,834 1,037,813 525,646 14,687,689 23,432,689

Capital Improvement Capital Improvement Capital Improvement Capital Improvement Capital Improvement Capital Improvement Capital Improvement

Total for business-type activities *Direct direct placement debt

State Revolving Loans Payable – Enterprise Funds The City entered into loan agreements with the State Department of Environmental Protection’s Clean Water State Revolving Fund Loan Program and Drinking Water State Revolving Fund Loan Program to borrow up to $14,687,689 to finance the planning, design and construction of water and wastewater infrastructure improvements. As of September 30, 2025, the City has outstanding debt of $6,317,152. The City is required to maintain rates and charges for services provided by the water and sewer systems which will be sufficient to provide revenue equal to or exceeding 1.15 times the sum of the semi-annual loan payments (debt service). The loans are payable in semiannual payments upon completion of the projects. The amount of semi-annual payments is calculated based on the actual amount of the principal drawn under the agreements, as well as associated capitalized interest and loan issuance cost. The semi-annual payment amounts are not determined until each project is completed.

City of Coral Springs, Florida Notes to Financial Statements Note 10.

Long-Term Liabilities (Continued)

Pledged Revenue General long-term debt bonds are collateralized by multiple sources. For example, the general obligation bonds are secured by ad-valorem taxes on all taxable property within the City and the full faith and credit and taxing power of the City. The City has pledged certain revenue to repay certain bonds and notes outstanding as of September 30, 2025. The following table reports the revenue, sometimes net of related operating expenses, pledged for each debt issue, the amounts of such revenue received in the current year, the current year principal and interest paid on the debt, the date through which the revenue is pledged under the debt agreement, and the total pledged future revenue for each debt, which is the amount of the remaining principal and interest on the bonds and loans as of September 30, 2025:

Debt Issue Florida DEP Revolving Loans and Revenue Bonds

Pledged Revenue Net Water and Sewer Revenues

Revenue Received

Current Year Principal and Interest Paid

Outstanding Principal and Interest

Pledged Through

9,125,223

$ 1,588,661

$ 10,536,128

2033

Annual Debt Service Requirements on Long-Term Debt On September 30, 2025, the annual debt service requirements on long-term debt (other than compensated absences) over the term of the debt is listed below: Years Ending September 30, 2026 $ 2027 2028 2029 2030 2031 - 2035 Total $

Years Ending September 30, 2026 $ 2027 2028 2029 2030 2031-2035 2036-2040 Total $

Special Obligation Bonds & Notes Principal Interest 1,096,000 $ 199,356 1,133,000 173,794 1,162,000 147,455 1,190,000 120,437 668,000 92,825 3,379,000 128,138 8,628,000 $ 862,005

Governmental Activities - Direct Placement General Obligation Bonds Principal Interest $ 2,381,796 $ 162,280 2,430,892 100,801 945,870 58,401 968,571 35,426 991,817 11,902 $ 7,718,946 $ 368,810

Governmental Activities Special Obligation Bonds Principal Interest 2,835,000 $ 1,582,358 2,910,000 1,494,900 3,055,000 1,349,400 3,205,000 1,196,650 3,370,000 1,036,400 16,520,000 2,639,000 7,305,000 444,100 39,200,000 $ 9,742,808

Capital Revenue Bonds & Notes Principal Interest 353,228 $ 95,073 363,116 77,093 373,282 58,611 383,732 39,611 394,474 20,079 1,867,832 $ 290,467

City of Coral Springs, Florida Notes to Financial Statements Note 10. Years Ending September 30, 2026 $ 2027 2028 2029 2030 2031 - 2035 2036 - 2040 2041 - 2044 Total $

Long-Term Liabilities (Continued) Financed Purchases Principal Interest 616,000 $ 67,023 631,000 52,707 645,000 38,058 660,000 23,076 675,000 7,749 3,227,000 $ 188,613

Governmental Activities Lease Payable Subscriptions payable Principal Interest Principal Interest 205,347 $ 21,421 $ 1,417,145 $ 116,765 108,221 18,119 961,963 74,944 61,089 15,390 892,256 49,508 12,178 14,465 916,663 25,985 13,536 13,906 29,572 1,671 91,157 58,908 31,320 859 139,965 34,002 79,656 4,009 711,149 $ 180,220 $ 4,248,919 $ 269,732

Business-Type Activities Revenue Bonds - Direct Placement State Loans Principal Interest Principal Interest $ 505,000 $ 89,481 $ 822,162 $ 168,316 520,000 75,425 845,007 145,471 530,000 60,953 868,489 121,989 540,000 46,201 892,625 97,853 555,000 31,172 882,270 73,282 565,000 15,725 2,006,599 78,108 $ 3,215,000 $ 318,957 $ 6,317,152 $ 685,019

Years Ending September 30, 2026 2027 2028 2029 2030 2031 - 2033 Total

Total $

Principal 2,238,492 1,701,184 1,598,345 1,588,841 718,108 122,477 139,965 79,656 8,187,068

Interest 205,209 145,770 102,956 63,526 23,326 59,767 34,002 4,009 638,565

Total Principal $ 1,327,162 1,365,007 1,398,489 1,432,625 1,437,270 2,571,599 $ 9,532,152

Interest 257,797 220,896 182,942 144,054 104,454 93,833 1,003,976

Refunded Debt The City has a bond issue that has been defeased and remains outstanding. Such debt is considered extinguished in an in-substance defeasance and, accordingly, is not reflected in the accompanying City financial statements. The following schedule is a summary of the remaining balance outstanding of defeased bonds as of September 30, 2025:

Balance Outstanding

Bond Issue General Obligation Bonds, Series 2006 Defeased in 2013 Note 11.

1,585,000

Industrial Development Bonds

Under the provisions of the Florida Industrial Development Financing Act, to promote the City’s economy and to increase the purchasing power and opportunities for gainful employment, the City authorized and issued the following conduit debt, Industrial Development Bonds. The balances as of September 30, 2025, follow:

Company Coral Vutech Properties, LLC. Coral Vutech Properties, LLC. Total

Series 2009A 2009B

Maturity Date 11/1/2029 11/1/2029

Authorized $ 2,250,000 2,250,000 $ 4,500,000

Outstanding $ 455,546 455,546 $ 911,092

These bonds do not constitute a debt or liability of the City within the meaning of any constitutional or statutory limitation and, accordingly, are not reflected in the accompanying financial statements.

City of Coral Springs, Florida Notes to Financial Statements Note 12.

Restricted Net Position

Restricted net position in the government-wide governmental activities statements include $6,877,337 for fire safety protection, $10,038,851 for charter school operations, $11,276,044 for net pension assets, $5,421,869 related to for law enforcement activity, $2,129,468 for preservation and protection of public arts, $991,489 for tree preservation and $585,771 for affordable housing programs. Restricted net position in the Water and Sewer Fund of $1,733,102 are unspent impact fees restricted for capital improvements. Restricted net position for the Community Redevelopment Agency (CRA) of $2,418,315 are unspent tax increment financing revenues restricted for capital projects. Note 13.

Risk Management

The City is exposed to various risks of loss related to torts: theft of, damage to and destruction of assets; errors and omissions; injuries to employees; employee health and natural disasters. The City’s Self-Insurance Internal Service Fund is used to account for and finance both uninsured and insured risks of loss. Coverage is provided as follows:

Type Auto Liability Health

Self-Insured Retention $ 25,000 325,000

Aggregate Stop Loss $ 3,000,000 22,654,347

Property General Liability

Self-Insured Retention $ 100,000 25,000

Deductible Stop Loss $ 150,000,000 3,000,000

As specified by applicable Federal and Florida Statutes

Workers’ Compensation

Settled claims have not exceeded the City’s aggregate excess coverage in force for the last three years. All operating funds of the City participate in the program and make payments to the Self-Insurance Internal Service Fund based on estimates of the amounts needed to pay prior and current claims. The estimated liability on pending claims on September 30, 2025 of $5,618,842, is based on the requirements of Governmental Accounting Standards Board Statement No. 10, which requires that a liability for claims be reported if information prior to the issuance of the financial statements indicated that it is probable that a loss has occurred, and the amount of the loss can be reasonably estimated. Liabilities include an amount for claims that have been incurred but not reported (IBNR). Changes in the balances of claims payable for 2025 and 2024, are as follows:

Claims payable, beginning of the year Incurred claims and changes in estimates (including IBNRs) Payments on claims Claims payable, end of the year 69

2025 5,604,058 20,872,285 (20,857,501) $ 5,618,842

2024 6,148,063 18,147,920 (18,691,925) $ 5,604,058

City of Coral Springs, Florida Notes to Financial Statements Note 14.

Commitments and Contingency

The City is a defendant in various legal actions and the ultimate outcome of these lawsuits is uncertain. However, in the opinion of the City’s management, the ultimate outcome will not have a material adverse effect on the City’s financial condition. Amounts received and receivables from grantor agencies are subject to audit and adjustment by grantor agencies, principally the federal government. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures which may be disallowed by the grantor cannot be determined at this time although the City expects such amounts, if any, to not be material. On June 5, 2024, the City and the CRA entered into an interlocal agreement requiring the CRA to make contributions to the City, which will be used to pay rent expense in connection with the Coral Springs Museum of Art’s relocation to the downtown area. Contributions to the City are scheduled to begin in 2026 through the sunset of the CRA in 2032. The annual contribution amount (beginning in 2026) is $179,300 with increases of 3% each year. The planned relocation of the Coral Springs Museum of Art to the downtown area will address and meet the CRA’s objectives of promoting arts and culture as a strategy for revitalizing the downtown area. Note 15.

Employee Retirement Plans

The City’s employee retirement plans include three separate single-employer defined benefit plans, seven defined contribution plans for general employees and City management (which are under contract with MissionSquare for which the City acts as an agent for participants) and a defined contribution plan for the City Commission. City employees may participate in one plan. The Police and Fire Pension Plans issue stand-alone financial reports. Copies of those reports are available at the Financial Services Department in City Hall. The General Employees’ Retirement Plan does not issue separate financial statements. The pension plans’ financial statements are prepared using the accrual basis of accounting. Contributions from members are recorded in the period the City makes payroll deductions from participants. City contribution requirements are actuarially determined and remitted on a biweekly basis with the members’ contributions for the defined contribution plans and annually or semi-annually for the defined benefit plans. Benefit payments and refunds to members are recognized when due and payable in accordance with the terms of the plan. Defined Benefit Plan Description General Employees’ Retirement Plan The City established the General Employees’ Retirement Plan (the General Plan) on June 1, 1973, which was closed to new participants after January 1, 1988. The Plan is a single-employer defined benefit plan available to City employees, except sworn police officers and firefighters. Certain provisions of Chapter 112, Florida Statutes, govern the General Plan. A Board of Trustees, consisting of five members, administers the General Plan. All costs of administering the General Plan are paid from plan assets. Police Officers’ Retirement Plan The City established the Police Officers’ Retirement Plan (the Police Plan) on June 1, 1973. The Plan is a singleemployer defined benefit plan available to all full-time sworn police officers of the City. The Police Plan is also governed by certain provisions of Chapters 112 and 185, Florida Statutes. A Board of Trustees administers the Police Plan. All costs of administering the Police Plan are paid from plan assets. 70

City of Coral Springs, Florida Notes to Financial Statements Note 15.

Employee Retirement Plans (Continued)

Firefighters’ Retirement Plan The Firefighters’ Retirement Plan (the Fire Plan) is a single-employer defined benefit plan, which covers all full-time certified firefighters. The Fire Plan was established by the City Commission with an effective date of December 31, 2002. The Fire Plan is also governed by certain provisions of Chapters 112 and 175, Florida Statutes. A Board of Trustees administers the Fire Plan. All costs of administering the Fire Plan are paid from plan assets. Benefits Provided General Employees’ Retirement Plan The General Plan provides retirement benefits as well as death and disability benefits. Benefits vest 50% after five years of continuous service, plus 5% for each additional year to 100% after 15 years. Employees who retire at age 55 with 10 years of service are entitled to a retirement benefit, payable monthly for life, in an amount equal to 3% of average monthly earnings times continuous service after January 1, 1991, and 2.5% of average monthly earnings times continuous service prior to January 1, 1991, for each year of credited service. Average monthly earnings are equal to 1/12 of the average annual earnings for the highest consecutive three years of the 10 full years’ immediately preceding actual retirement. Active members contributing 10% of earnings are also entitled to a 2% cost-of-living adjustment (COLA) beginning at retirement. On January 18, 2000, the City Commission approved a monthly stipend for future retirees of $200 from retirement to age 65 and $150 after age 65. Police Officers’ Retirement Plan The Police Plan provides retirement benefits as well as death and disability benefits. Eligibility for normal retirement is based on 20 years of continuous service regardless of age (or age 55 with 10 years of service) for participants hired prior to September 30, 2012. For participants hired after September 30, 2012, eligibility for normal retirement is based on 23 years of continuous service regardless of age (or age 55 with 10 years of service). Participants are eligible for early retirement at age 50 with at least 10 years of continuous service. The monthly retirement benefit shall be an amount determined as follows: 3.5% of the old average monthly earnings times continuous service earned prior to October 1, 2012, plus 3% of the new average monthly earnings times continuous service earned after September 30, 2012, where continuous service is limited to 25 years. Participants who earned at least 20 years of continuous service as of October 1, 2012, receive the 3.5% for all service up to 25 years. The maximum monthly retirement benefit is limited to $110,000 per year. Old average monthly earnings means 1/12 of the arithmetic average annual earnings for the highest consecutive three years of the 10 full years immediately preceding the actual retirement or termination date of a member, provided that if a member has been employed for fewer than three years such average shall be taken only over the period of his actual employment. Earnings include all compensation excluding leave payouts at separation and offduty details. For purposes of inclusion in earnings, overtime shall be limited to 300 hours per calendar year, or a prorated amount for a partial year. Compensation other than base salary shall be limited to 14.5% of base salary. New average monthly earnings means 1/12 of the arithmetic average annual earnings for the highest consecutive four years of the 10 full years immediately preceding the actual retirement or termination date of a member. Earnings include base compensation only. Firefighters’ Retirement Plan The Fire Plan provides retirement benefits as well as death and disability benefits. Eligibility for normal retirement is based on age 55 with 10 years of service, age 52 with 20 years of service, age 56 with three years of service (12/31/02 entrants only) or any age with 25 years of service. Participants are eligible for early retirement at age 50 with at least 10 years of continuous service. 71

City of Coral Springs, Florida Notes to Financial Statements Note 15.

Employee Retirement Plans (Continued)

The monthly retirement benefit shall be an amount determined as follows: 3.5% of the average monthly earnings times continuous service (2.25%, 3.25%, 3.5% or a blended rate for past service prior to December 31, 2002, depending on extent to which the member transferred the required additional contribution). Average monthly earnings mean the average annual earnings for the highest consecutive three years of the 10 full years immediately preceding the actual retirement or termination date of a member, provided that a member has been employed for fewer than three years such average shall be taken only over the period of actual employment. . Plan Membership As of October 1, 2023, the following employees were covered by the benefit terms:

Inactive Plan Members or Beneficiaries Currently Receiving Benefits Inactive Plan Members Entitled to But Not Yet Receiving Active Members Total

General Employees’ Retirement Plan

Police Officers’ Retirement Plan

Firefighters’ Retirement Plan

29 29

221 22 184 427

65 6 154 225

Contributions General Employees’ Retirement Plan The General Plan is closed. All participants are retired and therefore there are no employee contributions. The General Plan’s funding policy provides for periodic employer contributions at actuarially determined rates that are sufficient to accumulate sufficient assets to pay benefits when due. Level percentages of payroll contribution rates are determined using the entry age normal actuarial cost method. City contributions to the plan, as calculated by the plan actuary, are recognized as revenue when due and the City has made a formal commitment to provide the contributions. The City’s contribution for the fiscal year ended September 30, 2025, was $100,000. These were made in accordance with actuarially determined contribution requirements ascertained through an actuarial valuation performed on October 1, 2024. Police Officers’ Retirement Plan All participants are required to contribute 11.5% of their pensionable earnings to the plan. Pensionable earnings include total cash remuneration but excludes overtime, off-duty details, annual sick leave conversion payments, vacation payment incentive and all end of career payouts and are limited to 7.5% of base salary. Beginning January 1, 2022, members are required to contribute 11.5% of pensionable earnings. Pensionable earnings include total compensation other than leave payouts at separation and compensation for off-duty detail. If a participant terminates employment, or dies before 5 years of credited service, accumulated employee contributions are refunded to the employee or designated beneficiary. The Police Plan’s funding policy provides for periodic employer contributions at actuarially determined rates that, expressed as percentage of annual covered payroll, are sufficient to accumulate sufficient assets to pay benefits when due. Level percentages of payroll contribution rates are determined using the entry age normal actuarial cost method. The City Commission establishes and may amend the contribution requirements of the plan members and the City. 72

City of Coral Springs, Florida Notes to Financial Statements Note 15.

Employee Retirement Plans (Continued)

Police Plan member contributions are recognized in the period in which the contributions are due. City contributions to the plan, as calculated by the plan actuary, are recognized as revenue when due and the City has made a formal commitment to provide the contributions. Contributions for the year ended September 30, 2025, totaling $17,560,540 were made in accordance with actuarially determined contribution requirements determined through an actuarial valuation performed on October 1, 2023. Contributions for the fiscal year ended September 30, 2025, were $13,220,862 for the employer and $2,465,270 for the employees. In addition, contributions in the amount of $1,874,408 were received from the State of Florida in accordance with Florida Statutes. These on-behalf payments were also recognized as revenue and expenditures in the General Fund. Deferred Retirement Option Plan. The Deferred Retirement Option Plan (DROP) is available to all Police Plan participants who have attained their normal retirement age. Upon electing to participate in the DROP, members are considered to have retired for pension purposes of the pension plan but continue to remain in active employment with the City. Their benefits accumulate in a DROP account and continue to accrue interest until they retire from the City at which time DROP benefits will be paid. Maximum duration of participation is seven years and those employees who choose to enter the DROP with only 23 years of service or who were hired after September 30, 2012, must continue to make the required employee contributions to the plan until they attain 25 years of service. The election is irrevocable. The balance held by the Police Plan on September 30, 2025 pursuant to the DROP is $24,576,059. Firefighters’ Retirement Plan Participants are required to contribute 9.25% of their salary to the plan. For participants who have earned between 25-30 years of service, the required contribution is 5.50% of their salary. If a participant terminates employment, or dies before 10 years of credited service, accumulated employee contributions plus related investment earnings are refunded to the employee or designated beneficiary. The City Commission establishes and may amend the contribution requirements of the plan members and the City. The Fire Plan’s funding policy provides for periodic employer contributions at actuarially determined rates that, expressed as a percentage of annual covered payroll, are sufficient to accumulate sufficient assets to pay benefits when due. Level percentages of payroll contribution rates are determined using the entry age normal actuarial cost method. Significant actuarial assumptions used to compute contribution requirements are the same as those used to compute the pension benefit obligation. Fire Plan member contributions are recognized in the period in which the contributions are due. City contributions to the plan, as calculated by the plan actuary, are recognized as revenue when due and the City has made a formal commitment to provide the contributions. Contributions for the year ended September 30, 2025, totaling $9,622,359, were made in accordance with actuarially determined contribution requirements determined through an actuarial valuation performed on October 1, 2023. Contributions for the year ended September 30, 2025, were $5,452,768 for the employer and $1,635,437 for the employee. In addition, contributions in the amount of $2,534,154 were received from the State of Florida in accordance with Florida Statutes. These on-behalf payments were also recognized as revenue and expenditures in the General Fund. Deferred Retirement Option Plan. The Deferred Retirement Option Plan (DROP) is available to all Fire Plan participants who have attained their normal retirement age. Upon electing to participate in the DROP, members are considered to have retired for pension purposes of the pension plan but continue to remain in active employment with the City. Their benefits accumulate in a DROP account and continue to accrue interest until they retire from the City at which time DROP benefits will be paid. Maximum duration of participation is seven years, and the election is irrevocable. The balance held by the Fire Plan on September 30, 2025 pursuant to the DROP is $13,936,351.

City of Coral Springs, Florida Notes to Financial Statements Note 15.

Employee Retirement Plans (Continued)

Net Pension Liability (Asset) The following schedule presents the change in net pension liability (asset) for the fiscal year ended September 30, 2025: General Employees' Retirement Plan Total pension liability Service cost Interest Share plan allocation Differences between expected and actual experience Contributions-buy back Benefit payments, including refunds of employee contributions Net change in total pension liability Total pension liability – beginning Total pension liability – ending (a) Plan fiduciary net position Contributions-employer Contributions-employee Contributions-state Net investment income (loss) Benefit payments, including refunds of employee contributions Administrative expense Net change in plan fiduciary net position Plan fiduciary net position – beginning Plan fiduciary net position – ending (b) City's net pension liability (asset) – (a) – (b)

$ $

Plan fiduciary net position as a percentage of the total pension liability (asset)

459,639 (900,817) (774,602) (1,215,780) 9,580,071 8,364,291 600,000 1,596,531 (774,602) (16,666) 1,405,263 8,192,800 9,598,063 (1,233,772)

114.75%

Police Officers’ Retirement Plan $

$ $

6,624,873 25,957,708 4,887,788 265,272 (22,926,774) 14,808,867 375,662,913 390,471,780 12,756,899 2,239,504 1,790,911 57,994,330 (22,926,774) (341,690) 51,513,180 297,223,273 348,736,453 41,735,327

89.31%

Firefighters’ Retirement Plan $

$ $

4,521,741 12,083,281 1,008,337 8,218,756 (6,204,820) 19,627,295 165,246,614 184,873,909 4,457,231 1,613,821 2,478,022 32,351,063 (6,204,820) (303,294) 34,392,023 160,524,158 194,916,181 (10,042,272)

105.43%

Net position restricted for future benefits. Florida State Statute Chapter 175 establishes minimum benefits and standards for all municipal fire pension plans. The statute governs the allocation of insurance premium excise taxes levied to provide a partial funding source for these plans. In accordance with the provisions of the firefighters’ collective bargaining agreement, excess insurance premium excise taxes will be used to fund the firefighters’ Share Plan (the Share Plan), a defined contribution component of the Plan. The balance in the Share Plan on September 30, 2025, is $8,206,947. The Plan also has accumulated DROP contributions of $13,936,351 at year end.

City of Coral Springs, Florida Notes to Financial Statements Note 15.

Employee Retirement Plans (Continued)

Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources For the year ended September 30, 2025, a pension expense was recognized by the City as follows:

General Employees’ Retirement Plan $ (924,261)

Pension Expense

Police Officers’ Retirement Plan $ 11,592,934

Firefighters’ Retirement Plan $ 4,704,886

On September 30, 2025, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: General Employees' Retirement Plan Deferred Deferred Outflows of Inflows of Resources Resources Net difference between projected and actual earnings on pension plan investments Demographic experience Assumption changes Employer contributions made subsequent to the measurement date Total

100,000 100,000

Police Officers’ Retirement Plan Deferred Outflows of Deferred Inflows Resources of Resources

Firefighters’ Retirement Plan Deferred Outflows of Deferred Inflows Resources of Resources

444,316 -

4,687,925 6,823,294

$ 13,309,979 483,513 -

8,135,313 867,850

444,316

12,131,676 $ 23,642,895

$ 13,793,492

4,874,154 $ 13,877,317

8,079,023 3,675,692 2,219,817

$ 13,974,532

The deferred outflows of resources related to the General Plan totaling $100,000, the Police Plan totaling $12,131,676 and the Fire Plan totaling $4,874,154 resulting from City contributions made to the Plan subsequent to the measurement date, will be recognized as a reduction of the pension liability for the fiscal year ending September 30, 2026. Other amounts reported as deferred outflows (inflows) of resources related to pensions will be recognized in pension expense as follows: General Employees’ Retirement Plan Years ending September 30: 2026 $ 2027 2028 2029 2030 $

(53,703) 132,961 (288,241) (235,333) (444,316)

Police Officers’ Retirement Plan $

4,108,210 6,822,660 (6,707,593) (6,505,550) (2,282,273)

Firefighters’ Retirement Plan $

(445,380) 2,145,951 (4,924,477) (3,117,256) 1,369,793 (4,971,369)

The schedule of changes in the net pension liability (asset) and related ratios and the schedule of contributions are presented as Required Supplementary Information (RSI) following the notes to the financial statements and provides additional information about the plans. 75

City of Coral Springs, Florida Notes to Financial Statements Note 15.

Employee Retirement Plans (Continued)

Actuarial Methods and Assumptions The total pension liability (asset) was determined using the following actuarial assumptions applied to all prior periods included in the measurement:

Measurement Date Valuation Date Asset cost method Amortization method Remaining amortization period Asset valuation method

Discount rate Investment rate of return Annual salary increases Inflation rate Mortality Table

General Employees' Retirement Plan September 30, 2024 October 1, 2023 Entry Age Normal Level dollar, closed 5 years

Police Officers’ Retirement Plan September 30, 2024 October 1, 2023 Entry Age Normal Level dollar, closed 23 years

Three year smoothed fair value The actuarial value of assets is equal to the market value of assets, adjusted to reflect a fiveyear phase-in of the net investment appreciation (depreciation). 5.00% 7.00% 5.00% 7.00% N/A (no active members) 4.75%

Firefighters’ Retirement Plan September 30, 2024 October 1, 2023 Entry Age Normal Level dollar, closed 15 Years Five year smoothed fair value

7.25% 7.25% 3.50% to 10.00% depending on service 2.00% 2.50% 2.50% Mortality assumptions are the Pub 2010 Headcount Weighted Pub 2010 Headcount Weighted same as that used by the Mortality Tables with Mortality Tables with Florida Retirement System generational mortality using generational mortality using (FRS) for Regular Class (non MP2018 mortality improvement MP2018 mortality improvement K-12 Instructional) members in projections scale. The tables projections scale. The tables the actuarial report as of July 1, used during employment were used during employment were 2021. FRS described the rates set forward 1 year. The tables set forward 1 year. The tables used postemployment are the used postemployment are the as taken from PUB-2010 Headcount Weighted Mortality Below Median Healthy Retiree Below Median Healthy Retiree Tables, set forward 1 year for Tables, set forward 1 year for Tables with mortality improvements projected to all healthy retirees and set back 1 healthy retirees and set back 1 year for beneficiaries. year for beneficiaries. future years after 2010 using Scale MP-2018. For females, the base table used is the Below Median Healthy Retiree Female table. For males, the base table used is the Below Median Healthy Retiree Male Table, set back 1 year.

City of Coral Springs, Florida Notes to Financial Statements Note 15.

Employee Retirement Plans (Continued)

Change in Assumptions There were no changes in assumptions for the plans during the year. Discount Rate The projection of cash flows used to determine the discount rate assumes plan members will contribute at the current contribution rate and the City will continue to make future contributions at the actuarially determined contribution rate. Based on those assumptions, the pension plans’ fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on each pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability for each Plan. Long-Term Rate of Return The long-term expected rate of return on pension plan investments is developed for each major asset class by weighing the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. Best estimates of real rates of return for each major asset class included in each pension plan’s target asset allocation as of September 30, 2024, are summarized in the following table:

Asset Class Fixed income Domestic bonds International bonds Domestic equity International equity Real estate Global tactical asset allocation Infrastructure Private equity

General Employees’ Retirement Plan 5.00% 6.00% 10.00% 11.00% 7.00% -

Private Fixed Income

Police Officers’ Retirement Plan

Firefighters’ Retirement Plan

2.50%

7.50% 8.50% 4.50%

4.50% 3.50% 2.50%

3.50% 4.50% 8.50% 2.50%

City of Coral Springs, Florida Notes to Financial Statements Note 15.

Employee Retirement Plans (Continued)

Investment Rate of Return General Employees’ Retirement Plan For the year ended September 30, 2025, the annual money-weighted rate of return on pension plan investments, net of pension plan investment expense was 4.95%. The money-weighted rate of return expresses investment performance, net of investment expense, adjusted for the changing amounts actually invested. Sensitivity of the Net Pension Liability (Asset) to Changes in the Discount Rate The following table illustrates the impact of interest rate sensitivity on the net pension liability (asset) as of September 30, 2025:

General Employees’ Retirement Plan Discount Net Pension Rate Liability (Asset)

Police Officers’ Retirement Plan Discount Net Pension Rate Liability (Asset)

Firefighters’ Retirement Plan Discount Net Pension Rate Liability (Asset)

1% Decrease

4.00% $

(444,516)

6.00% $

90,236,093

6.25% $ 12,430,789

Current Rate

5.00% $ (1,233,772)

7.00% $

41,735,327

7.25% $ (10,042,272)

1% Increase

6.00% $ (1,905,263)

8.00% $

1,949,259

8.25% $ (28,505,525)

The following table summarizes the net pension liability (asset), deferred inflow and outflow of resources and pension expense as previously disclosed in Note 8 for each defined benefit pension plan:

Plan General Employees

Net Pension Liability/ Deferred Outflows Deferred Inflows (Asset) of Resources of Resources Pension Expense $ (1,233,772) $ 100,000 $ 444,316 $ (924,261)

Police Officers

41,735,327

23,642,895

13,793,492

11,592,934

Firefighters

(10,042,272)

13,877,317

13,974,532

4,704,886

Total

30,459,283

37,620,212

28,212,340

15,373,559

City of Coral Springs, Florida Notes to Financial Statements Note 15.

Employee Retirement Plans (Continued)

Pension and Other Post-Employment Benefit (OPEB) Plans That Do Not Issue Stand-Alone Financial Statements The following are the employee pension plans that do not issue stand-alone financial statements:

General Employees’ Pension

Statement of Net Position

Assets Pooled cash and cash equivalents Debt securities Equity securities Other investments Interest receivable Employee loan receivable and other assets Total assets Liabilities Total liabilities Net position restricted for pension and OPEB benefits

421,264 3,463,496 5,526,153 8,856 9,419,769 10,745 9,409,024

City Commission Pension $

General Employees’ & Management 401 (a) Plan 1,236,177 24,518,634 103,551,667 1,940,782 131,247,260

OPEB Trust

84,428 73,963 925 400 159,716

159,716

$ 131,247,260

9,294,010 9,294,010 9,294,010

Statement of Changes in Net Position Additions Employee contribution Employer contribution Rollover Total contributions

Investment income Net appreciation (depreciation) in fair value of investments Other income Less investment expense Net investment income Total additions Deductions Benefit payments Administrative expenses Total deductions Net increase (decrease) in plan net position Net position restricted for pension and OPEB benefits Net position, beginning Net position, ending

100,000 100,000

5,646 5,646

3,207,925 3,620,744 (55,855) 6,772,814

222,373 222,373

724,946 (209,300) 3,057 518,703 (31,983) 486,720 586,720

6,778 (314) 6,464 6,464 12,110

4,329,257 9,939,696 14,268,953 14,268,953 21,041,767

693,545 693,545 693,545 915,918

747,104 28,654 775,758 (189,038)

4,800 4,800 7,310

10,106,109 133,812 10,239,921 10,801,846

9,093 9,093 906,825

152,406 159,716

120,445,414 $ 131,247,260

9,598,062 9,409,024

8,387,185 9,294,010

City of Coral Springs, Florida Notes to Financial Statements Note 15.

Employee Retirement Plans (Continued)

General Employees’ and Management Defined Contribution Pension Plans The City has contracted with MissionSquare on behalf of its general employees for three defined contribution pension plans. The City also contracts with MissionSquare for three defined contribution pension plans for all general employees categorized as directors and managers and a separate plan for the City Manager and City Attorney. All seven plans are established under the provisions of Section 401(a) of the Internal Revenue Code as Money Purchase Plans and Trusts. The City Commission has the authority for establishing or amending the plans’ provisions. The assets of the plans are owned by the employee; however, the City has a custodial responsibility to properly administer the plans. In a defined contribution plan, benefits depend solely on amounts contributed to the plan plus investment earnings. The General Employees’ 401(a) Plan provisions require the City to contribute 7% of each participant’s salary for the first seven years of service and 9% of the participant’s salary thereafter. Police dispatch employees may participate in the General Employees’ 401(a) plan. Plan provisions require the City to contribute 8% of each participants salary for the first 7 years and 10% of the participants salary thereafter. Participants are required to contribute 6%, 8% or 10% of earnings (depending on plan selection) for the plan year. Employees are eligible to participate from the date of employment. The City’s contributions for each employee (and interest allocated to the employee’s account) are fully vested after five years of continuous service. City contributions for, and interest forfeited by employees who leave employment before five years of service, are refunded to the City by the trustee after a minimum holding period of three years. On September 30, 2025, there were 124 plan members in the 6% plan, 145 in the 8% plan and 200 in the 10% plan. For the year ended September 30, 2025, the City’s and employees’ contributions to the three defined contribution plans were $2,164,640 and $2,246,466, respectively. The Management 401(a) Plan provisions require the City to contribute 11% of each participant’s salary for the first seven years of service and 13% of the participant’s salary thereafter. Police dispatch employees may participate in the Management 401(a) plan. Plan provisions require the City to contribute 12% of each participants’ salary for the first seven years and 14% of the participants salary thereafter. Participants contribute 0%, 5% or 10% of salary (depending on plan selection) for the plan year. Employees are eligible to participate in the plan from the date of employment. The City’s contributions for each employee (and interest allocated to the employee’s account) are fully vested at the time of the contribution. The City’s contributions were calculated using the covered payroll amount of approximately $11.3 million for the fiscal year ended September 30, 2025. The City’s and employees’ contributions for the fiscal year ended September 30, 2025 were as follows:

Management 401(a) Plan - 0% Management 401(a) Plan - 5% Management 401(a) Plan - 10% City Manager 401(a) Plan

Contributions Employee Employer 71,403 $ 327,140 136,447 894,859 799,579 162,702 25,433 1,456,104 $ 961,459

City of Coral Springs, Florida Notes to Financial Statements Note 15.

Employee Retirement Plans (Continued)

The City Manager’s 401(a) Plan requires the City to contribute 20% of the City Manager’s and the City Attorney’s salary for each plan year. The City Manager and City Attorney may contribute up to 10% of their salary for each plan year. The City’s contribution and those of the City Manager and City Attorney (and interest allocated to their account) are fully vested at the time of the contribution. Note 16.

Other Post-Employment Benefits (OPEB)

General Information about the OPEB Plan Plan description. On June 17, 2008, the City established an OPEB trust, a single-employer defined benefit healthcare plan administered by the City. The Plan provides medical and dental insurance benefits to eligible retirees and their spouses and families. The City Commission is authorized to establish and amend benefit levels, subject to the minimum requirements set forth by Florida Statutes, and to approve the actuarial assumptions used in the determination of contribution levels. The Plan does not have a separate board of trustees. The Plan does not issue a separate financial statement. The City elected to establish an irrevocable Other Post-Employment Benefits (OPEB) trust and began funding the obligation in fiscal year 2008. Benefits provided. Pursuant to Section 112.0801, Florida Statutes, the City is required to permit participation in the health insurance program by retirees and their eligible dependents at a cost to the retiree that is no greater than the cost at which coverage is available for active employees. The City covers 50% of the cost for those retirees who participate in the OAPIN or HRA up to age 65. The City does not provide nonunion retirees hired after October 1, 2019 who participate in the OAPIN or HRA with any subsidy for this benefit. Contributions. The City Commission is authorized to establish benefit levels and to approve the actuarial assumptions used in the determination of contribution levels. The City Commission establishes the contribution requirements of plan members and the City. These contributions are neither mandated nor guaranteed. The retiree pays the full cost of the premium each month for themselves, spouses and other dependents, which are also eligible for coverage. The City covers 50% of the cost for those retirees who participate in the OAPIN or HRA up to age 65. The City does not provide nonunion retirees hired after October 1, 2019, who participate in the OAPIN or HRA with any subsidy for this benefit. Investments. The Plan does not have a formal investment policy. The City invests in the Florida Municipal Pension Trust Fund (FMPTF) to provide funding for other post-employment benefits offered by the City. EMPLOYER REPORTING AS REQUIRED BY GASB 75 Employees Covered by benefit terms. As of October 1, 2023, employee membership data related to the Plan is as follows:

Inactive employees or beneficiaries currently receiving benefit payments Active employees Total

232 888 1,120

City of Coral Springs, Florida Notes to Financial Statements Note 16.

Other Post-Employment Benefits (OPEB) (Continued)

Net OPEB Liability The City’s net OPEB liability was measured as of September 30, 2024. The total OPEB liability used to calculate the net OPEB liability was determined as of that date. Actuarial assumptions. The total OPEB liability was determined by an actuarial valuation as of October 1, 2023 with updated asset information as of September 30, 2024, using the following assumptions, applied to all prior periods included in the measurement:

Actuarial assumptions: Measurement date Inflation rate Salary increases Investment rate of return Discount rate Healthcare cost trend rates: Medical Select rates Ultimate rate

September 30, 2024 2.50% 3.00% 5.50% 4.13% 7.00% 4.50%

initial medical trend rate for retirees per annum beginning in the year 2035

For police and fire employees, mortality rates were based on sex distinct PUB 2010 safety employees headcount weighted mortality table with generational mortality improvement scale MP-2020. For all other employees, mortality rates were based on sex distinct PUB 2010 general employees headcount weighted mortality table with generational mortality improvement scale MP-2021. The long-term expected rate of return on OPEB plan investments was determined using a building-block method in which best–estimate ranges of expected future real rates of return (expected returns, net of investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. The following assumption was changed: 

The discount rate for accounting purposes was updated to reflect the weighted discount rate of the expected return on plan assets and the yield on a highly rated 20-year municipal bond as of September 30, 2025.

City of Coral Springs, Florida Notes to Financial Statements Note 16.

Other Post-Employment Benefits (OPEB) (Continued)

The target allocation and best estimates of real rates of return for each major asset class as of September 30, 2024 (measurement date), are summarized in the following table:

Asset Class Domestic equity International equity Fixed income Real estate Cash

Target Allocation 32% 18% 40% 10% 100%

Long-Term Expected Real Rate of Return 6.50% 8.70% 3.00% 6.70% 2.00%

Discount rate. The discount rate used to measure the total OPEB liability was 4.13%. The projection of cash flows used to determine the discount rate assumes that City contributions will be made at rates equal to the actuarially determined contribution rates. The discount rate is based on a blend of the expected long-term rate of return on assets of 5.50% for benefit payments during the first six years after the valuation date and a yield on 20-year grade AA/Aa or higher municipal bonds of 3.97% per year for benefit payments beyond the first six years after the valuation date. Changes in the Net OPEB Liability

Balance at September 30, 2024 Changes for the year: Service cost Interest Differences between expected and actual experience Change in assumptions Contributions – employer Net investment income (loss) Benefit payments Administrative expense Net changes Balance at September 30, 2025

Total OPEB Liability (a) $ 21,838,373

Increase (Decrease) Plan Fiduciary Net Position (b) $ 6,884,036 $

755,518 864,503

1,513,724 (1,812,185) 1,321,560 23,159,933

214,200 1,297,045 (8,096) 1,503,149 8,387,185

Net OPEB Liability (a) – (b) 14,954,337 755,518 864,503

1,513,724 (214,200) (1,297,045) (1,812,185) 8,096 (181,589) 14,772,748

City of Coral Springs, Florida Notes to Financial Statements Note 16.

Other Post-Employment Benefits (OPEB) (Continued)

Sensitivity of the Net OPEB Liability to Changes in the Discount Rate. The following table illustrates the impact of interest rate sensitivity on the net OPEB liability of the City as of September 30, 2025:

Net OPEB liability

1% Decrease 3.13% $ 17,121,614

Discount Rate 4.13% $ 14,772,748

1% Increase 5.13% $ 12,330,279

Sensitivity of the Net OPEB Liability to Changes in the healthcare cost trend rates. The following table illustrates the impact of healthcare cost trend rate sensitivity on the net OPEB liability of the City as of September 30, 2025:

Net OPEB liability

1% Decrease (6.0% decreasing to 3.50%) $ 12,118,948

Healthcare Cost Trend Rates (7.0% decreasing to 4.50%) $ 14,772,748

1% Increase (8.0% decreasing to 5.50%) $ 17,403,815

OPEB Expense, Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB For the year ended September 30, 2025, the City recognized OPEB benefit of $416,333. On September 30, 2025, the City reported deferred outflows of resources and deferred inflows of resources related to the OPEB plan from the following sources:

Deferred Outflows of Resources Net difference between projected and actual earnings on OPEB plan investments Differences between expected and actual experience Assumption changes Employer contributions made subsequent to the measurement date Total

1,872,540 4,713,543 222,373 6,808,456

Deferred Inflows of Resources $

389,140 233,597 13,852,585 14,475,322

City of Coral Springs, Florida Notes to Financial Statements Note 16.

Other Post-Employment Benefits (OPEB) (Continued)

The deferred outflows of resources related to the OPEB plan totaling $222,373 resulting from City contributions to the Plan subsequent to the measurement date, will be recognized as a reduction of the OPEB liability for the fiscal year ending September 30, 2026. Other amounts reported as deferred outflows of resources and as deferred inflows of resources related to the Plan will be recognized in expense as follows:

Years ending September 30: 2026 $ 2027 2028 2029 2030 Thereafter $

(1,643,812) (1,514,243) (615,162) (1,064,591) (883,392) (2,168,039) (7,889,239)

PLAN REPORTING AS REQUIRED BY GASB 74 The following disclosures for the City’s OPEB Trust Fund are required by GASB Statement No. 74, Financial Reporting for Post-Employment Benefit Plans Other than Pension Plans. However, the balance for the Net OPEB Liability is not required to be reported on the City’s financial statements until September 30, 2025. Employees Covered by benefit terms. As of October 1, 2024, employee membership data related to the Plan is as follows:

Inactive employees or beneficiaries currently receiving benefit payments Active employees Total

266 945 1,211

Investments Rate of return. For the year ended September 30, 2025, the annual money-weighted rate of return (loss) on investments, net of investment expense, was 8.07%. The money-weighted rate of return expresses investment performance, net of investment expense, adjusted for the changing amounts actually invested. Net OPEB Liability of the City The components of the net OPEB liability of the City as of September 30, 2025 (measurement date), were as follows:

Total OPEB liability Plan fiduciary net position City’s net OPEB liability

$ 24,236,074 9,294,010 $ 14,942,064

Plan fiduciary net position as a percentage of the total OPEB liability

38.35%

City of Coral Springs, Florida Notes to Financial Statements Note 16.

Other Post-Employment Benefits (OPEB) (Continued)

Actuarial assumptions. The total OPEB liability was determined by an actuarial valuation as of October 1, 2024 with updated asset information as of September 30, 2025, using the following assumptions, applied to all prior period included in the measurement:

Actuarial assumptions: Measurement date Inflation rate Salary increases Investment rate of return Discount rate Healthcare cost trend rates Medical Select rates Ultimate rate

September 30, 2025 2.50% 3.00% 6.50% 4.70% 7.00% 4.50%

initial medical trend rate for retirees per annum beginning in the year 2035

Mortality rates were based on Society of Actuaries Pub-2010 Public Retirement Plans Healthy Male and Female Total Dataset Headcount-Weighted Mortality tables based on Employee and Healthy Annuitant Tables for both preand post-retirement projected with mortality improvements using the most current Society of Actuaries Mortality Improvement Scale MP-2021. For the measurement date of September 30, 2025, the following assumptions were changed:  The discount rate for accounting purposes was updated to reflect the weighted discount rate of the expected return on plan assets and the yield on a highly rated 20-year municipal bond as of September 30, 2025. The rate increased from 4.13% to 4.70%. The long-term expected rate of return on OPEB plan investments was determined using a building-block method in which best–estimate ranges of expected future real rates of return (expected returns, net of investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation.

City of Coral Springs, Florida Notes to Financial Statements Note 16.

Other Post-Employment Benefits (OPEB) (Continued)

The target allocation and best estimates of real rates of return for each major asset class as of September 30, 2025 (measurement date), are summarized in the following table: Long-Term Expected Real Target Allocation Rate of Return Asset Class Domestic equity 32% 8.00% International equity 18% 9.25% Fixed income 40% 4.00% Real estate 10% 7.00% Cash 0% 3.00% 100% Discount rate. The discount rate used to measure the total OPEB liability was 4.70%. The projection of cash flows used to determine the discount rate assumes that City contributions will be made at rates equal to the actuarially determined contribution rates. The long-term expected rate of return on OPEB plan investments are based on a blend of the expected long-term rate of return on assets of 6.50% for benefit payments during the first seven (7) years after the valuation date and a yield on 20-year grade AA/Aa or higher municipal bonds of 4.47% per year for benefit payments beyond the first seven (7) years after the valuation date. Sensitivity of the Net OPEB Liability to Changes in the Discount Rate. The following table illustrates the impact of interest rate sensitivity on the net OPEB liability of the City as of September 30, 2025 (measurement date):

Net OPEB liability

1% Decrease 3.70% $ 17,421,789

Discount Rate 4.70% $ 14,942,064

1% Increase 5.70% $ 12,899,770

Net OPEB liability

1% Decrease (6.00% decreasing to 3.50%) $ 12,825,783

Healthcare Cost Trend Rates (7.00% decreasing to 4.50%) $ 14,942,064

1% Increase (8.00% decreasing to 5.50%) $ 17,503,880

City of Coral Springs, Florida Notes to Financial Statements Note 17.

Pronouncements Issued But Not Yet Adopted

GASB Statement No. 103, Financial Reporting Model Improvements will improve key components of the financial reporting model to enhance its effectiveness in providing information that is essential for decision making and assessing a government’s accountability. This statement also addresses certain application issues. The statement will be effective for the City with its year ending September 30, 2026. GASB Statement No. 104, Disclosure of Certain Capital Assets will improve financial reporting by provided issuers of financial statements with essential information about certain types of capital assets in order to make informed decisions and assess accountability. Additionally, the disclosure requirements will improve consistency and comparability between governments. The statement will be effective for the City with its year ending September 30, 2026. GASB Statement No. 105, Subsequent Events will improve financial reporting for subsequent events, thereby enhancing consistency in their application and better meeting the information needs of financial statement users. The Statement clarifies the subsequent events that constitute recognized and nonrecognized events and establishes specific note disclosure requirements for nonrecognized events. The statement will be effective for the City with its year ending September 30, 2027. The City’s management has not yet determined the effect these statements will have on the City’s financial statements. Note 18.

Restatements

The American Rescue Plan Fund was previously reported as a major governmental fund but no longer meets the quantitative criteria. The effects of the change within the reporting entity are as follows:

Governmental Funds American Rescue Nonmajor Plan Fund Funds $ 1,221,134 $ 20,456,116 (1,221,134) 1,221,134 $ $ 21,677,250

Balances September 30, 2024, as previously reported Changes to, or within, the financial reporting entity Balances October 1, 2024, as restated

City of Coral Springs, Florida Notes to Financial Statements Note 18.

Restatements (Continued)

As of October 1, 2024, the City adopted GASB Statement No. 101, Compensated Absences. The objective of this Statement is to better meet the needs of the financial statement users by improving accounting and financial reporting for compensated absences by governments. As a result of the implementation, the following balances changed from the financial statements as of September 30, 2024. Governmental Activities Compensated Absences Current Noncurrent Net Position September 30, 2024, as originally stated Implementation of GASB 101 September 30, 2024, as restated

Business-type Activities Compensated Absences Current Noncurrent Net Position

6,787,290 (5,509,305)

1,683,678 11,238,173

$ 252,440,334 (5,728,868)

315,820 (270,074)

45,868 416,678

$ 82,684,280 (146,604)

1,277,985

$ 12,921,851

$ 246,711,466

45,746

462,546

$ 82,537,676

Water and Sewer Fund Compensated Absences Current Noncurrent Net Position September 30, 2024, as originally stated Implementation of GASB 101 September 30, 2024, as restated

243,110 (208,754)

35,308 312,066

$ 67,362,720 (103,312)

72,710 (61,319)

10,560 104,611

$ 15,321,560 (43,292)

34,356

347,374

$ 67,259,408

11,391

115,171

$ 15,278,268

Internal Service Funds Compensated Absences Current Noncurrent Net Position September 30, 2024, as originally stated Implementation of GASB 101 September 30, 2024, as restated

Nonmajor Enterprise Funds Compensated Absences Current Noncurrent Net Position

154,879 (133,951)

211,607

$ 44,951,803 (77,656)

20,928

211,607

$ 44,874,147

City of Coral Springs, Florida Required Supplementary Information (unaudited) General Fund Schedule of Revenue, Expenditures, Other Financing Sources (Uses) and Changes in Fund Balances – Budget and Actual (Budgetary Basis) Fiscal Year Ended September 30, 2025

Budgeted Amounts Original Final Revenue: Taxes: Ad valorem Franchise fees Utility Intergovernmental Licenses and permits Charges for services Fines and forfeitures Interest and other Total revenue Expenditures: Current: General government Public safety: Police Fire and emergency services Parks and recreation Public works Development services Educational and cultural Capital outlay Debt Service: Principal Interest and other Total expenditures Excess of revenue over expenditures Other financing sources (uses): Transfers in Transfers out Issuance of leases Total other financing sources (uses) Net change in fund balances Fund balance, beginning of year Fund balance, end of year

86,521,256 13,138,361 12,178,873 24,175,966 5,968,734 32,568,182 1,700,252 4,103,669 180,355,293

86,521,256 13,138,361 12,178,873 24,175,966 5,968,734 32,099,432 1,700,252 4,103,669 179,886,543

Variance with Final Budget

Actual

87,534,565 14,611,909 15,224,592 23,817,008 4,592,407 30,088,364 1,800,512 8,423,740 186,093,097

1,013,309 1,473,548 3,045,719 (358,958) (1,376,327) (2,011,068) 100,260 4,320,071 6,206,554

34,672,569

33,525,775

32,286,708

1,239,067

68,497,341 16,660,883 18,098,489 8,692,811 9,571,459 5,325,482 712,670

68,375,049 16,540,297 18,090,747 8,691,811 9,563,949 5,318,295 4,992,597

65,946,924 17,024,283 18,413,733 8,429,144 8,669,549 4,354,767 5,835,692

2,428,125 (483,986) (322,986) 262,667 894,400 963,528 (843,095)

162,231,704

165,098,520

721,414 165,509 161,847,723

(721,414) (165,509) 3,250,797

18,123,589

14,788,023

24,245,374

9,457,351

1,151,540 (19,275,129) -

1,620,291 (20,551,131) 4,142,817

790,375 (20,551,131) 5,095,802

(829,916) 952,985

(14,788,023) -

(14,664,954) 9,580,420 65,296,480 74,876,900

(18,123,589) -

See Notes to Required Supplementary Information.

123,069 9,580,420

City of Coral Springs, Florida Required Supplementary Information (unaudited) Fire Special Revenue Fund Schedule of Revenue, Expenditures, Other Financing Sources (Uses) and Changes in Fund Balances – Budget and Actual (Budgetary Basis) Fiscal Year Ended September 30, 2025

Budgeted Amounts Original Final Revenue: Intergovernmental Non-ad valorem special assessment Charges for services Interest and other Total revenue Expenditures: Current: Fire Capital outlay Total expenditures Excess (deficiency) of revenue over (under) expenditures Other financing sources (uses): Transfers in Transfers out Total other financing sources (uses) Net change in fund balance

50,000 17,433,404 11,872,750 131,975 29,488,129

Actual Amounts

Variance with Final Budget

48,203 17,831,169 11,044,471 502,360 29,426,203

(1,797) 397,765 (828,279) 370,385 (61,926)

30,325,870 57,492 30,383,362

29,760,004 33,580 29,793,584

28,753,845 14,142 28,767,987

1,006,159 19,438 1,025,597

(895,233)

(305,455)

658,216

963,671

3,037,871 (2,142,638) 895,233 $ -

3,037,871 (2,732,416) 305,455 $ -

3,039,908 (2,732,416) 307,492 965,708

2,037 2,037 965,708

Fund balance, beginning of year Fund balance, end of year

See Notes to Required Supplementary Information.

5,911,629 6,877,337

City of Coral Springs, Florida Required Supplementary Information (unaudited) General Employees’ Retirement Plan Schedule of Changes in the Net Pension Liability and Related Ratios Last Ten Fiscal Years

2025 Total pension liability Service cost

Interest

2024 -

2023 -

2022 -

459,639

495,912

547,618

606,645

(900,817) -

104,521 387,718

(143,119) 376,918

43,122 95,236

(774,602) (1,215,780) 9,580,071 8,364,291

(849,328) 138,823 9,441,248 9,580,071

(934,266) (152,849) 9,594,097 9,441,248

(967,822) (222,819) 9,816,916 9,594,097

Differences between expected and actual experience Changes in assumptions Benefit payments, including refunds of employee contributions Net change in total pension liability Total pension liability – beginning Total pension liability – ending (a) Plan fiduciary net position Contributions-employer Contributions-employee Net investment income (loss) Benefit payments, including refunds of employee contributions Administrative expense Net change in plan fiduciary net position Plan fiduciary net position – beginning Plan fiduciary net position – ending (b) City’s net pension liability – (a) – (b) Plan fiduciary net position as a percentage of the total pension liability Covered payroll * City’s net liability as a percentage of covered payroll * Measurement date

$ $

600,000 1,596,531

(774,602) (16,666) 1,405,263 8,192,800 9,598,063

(1,233,772)

$ $

800,000 662,758

(849,328) (19,372) 594,058 7,598,742 8,192,800

1,387,271

$ $

800,000 (1,575,053)

$ $

750,000 1,436,408

(934,266) (26,047) (1,735,366) 9,334,108 7,598,742

(967,822) (6,121) 1,212,465 8,121,643 9,334,108

1,842,506

259,989

114.75%

85.52%

80.48%

97.29%

N/A

9/30/2024

9/30/2023

9/30/2022

9/30/2021

* There are currently no active employees in the plan.

2021 $

$ $

2020 -

2019 -

2018 -

2017 9,519

38,723

2016 $

51,515

617,482

630,784

625,218

664,619

680,454

681,195

190,191 -

141,504 -

710,420 410,065

(109,367) 468,540

84,907 -

275,902

(980,954) (173,281) 9,990,197 9,816,916

(972,922) (200,634) 10,190,831 9,990,197

(973,128) 772,575 9,418,256 10,190,831

(934,246) 99,065 9,319,191 9,418,256

(867,969) (63,885) 9,383,076 9,319,191

(761,493) 247,119 9,135,957 9,383,076

611,634 648,831

(980,954) (8,934) 270,577 7,851,066 8,121,643

1,695,273

$ $

600,000 283,475

(972,922) (11,418) (100,865) 7,951,931 7,851,066

2,139,131

$ $

587,157 390,383

(973,128) (19,110) (14,698) 7,966,629 7,951,931

2,238,900

$ $

529,000 4,304 675,979

(934,246) (19,878) 255,159 7,711,470 7,966,629

1,451,627

$ $

529,000 10,079 666,661

$ $

529,000 21,913 (19,423)

(867,969) (18,807) 318,964 7,392,506 7,711,470

(761,493) (16,788) (246,791) 7,639,297 7,392,506

1,607,721

1,990,570

82.73%

78.59%

78.03%

84.59%

82.75%

78.79%

N/A

$43,036

$49,416

$219,126

N/A

3373.05%

3253.44%

908.41%

9/30/2020

9/30/2019

9/30/2018

9/30/2017

9/30/2016

9/30/2015

City of Coral Springs, Florida Required Supplementary Information (unaudited) Police Officers’ Retirement Plan Schedule of Changes in the Net Pension Liability and Related Ratios Last Ten Fiscal Years

2025 Total pension liability Service cost Interest Differences between expected and actual experience Benefit payments, including refunds of employee contributions Changes of benefit terms Assumption changes Contributions – buy back Net change in total pension liability Total pension liability – beginning Adjustment to beginning balance Total pension liability – beginning Total pension liability – ending (a)

6,624,873 25,957,708 4,887,788

2024 $

6,561,326 24,979,467 1,296,153

2023 $

5,349,081 24,638,621 (1,934,052)

2022 $

5,391,509 24,012,383 2,826,277

(22,926,774) 265,272 14,808,867 375,662,913 375,662,913 $ 390,471,780

(22,230,755) 3,413,529 239,613 14,259,333 361,403,580 361,403,580 $ 375,662,913

(18,736,364) (14,736,491) 19,100,703 (7,167,314) 451,517 28,869,506 10,326,364 332,534,074 304,164,253 18,043,457 332,534,074 322,207,710 $ 361,403,580 $ 332,534,074

Plan fiduciary net position Contributions-employer Contributions-employee Contributions-state Net investment income (loss) Benefit payments, including refunds of employee contributions Administrative expense Net change in plan fiduciary net position Total pension liability – beginning Adjustment to beginning balance Plan fiduciary net position – beginning Plan fiduciary net position – ending (b)

(22,926,774) (341,690) 51,513,180 297,223,273 297,223,273 $ 348,736,453

(22,230,755) (251,734) 18,477,431 278,745,842 278,745,842 $ 297,223,273

(18,736,364) (262,876) (45,434,552) 324,180,394 324,180,394 $ 278,745,842

(14,736,491) (270,655) 53,743,341 252,393,596 18,043,457 270,437,053 $ 324,180,394

City’s net pension liability – (a) – (b)

Plan fiduciary net position as a percentage of the total pension liability

12,756,899 2,239,504 1,790,911 57,994,330

41,735,327

12,250,050 2,126,668 1,579,510 25,003,692

78,439,640

11,238,201 2,446,421 3,293,591 (43,413,525)

82,657,738

11,735,573 1,757,326 55,257,588

8,353,680

89.31%

79.12%

77.13%

97.49%

Covered payroll City’s net liability as a percentage of covered payroll

$19,538,349

$18,520,913

$18,643,645

$17,481,543

213.61%

423.52%

443.36%

47.79%

Measurement date

9/30/2024

9/30/2023

9/30/2022

9/30/2021

* The Total Pension Liability – beginning and Plan Fiduciary Net Position – beginning for 2022 includes DROP amounts that are now being included due to the implementation of GASB 84. That amount is $24,576,059.

2021 $

5,576,478 20,890,435 10,883,338

2020 $

(14,678,781) 1,498,101 24,169,571 279,994,682 279,994,682 $ 304,164,253

11,194,923 1,880,013 17,280,977

(14,678,781) (206,918) 15,470,214 236,923,382 236,923,382 $ 252,393,596 $

51,770,657

5,661,618 18,286,849 3,882,200 (13,401,666) 21,233,529 35,662,530 244,332,152 244,332,152 279,994,682 11,518,268 1,846,201 11,969,160

(13,401,666) (198,714) 11,733,249 225,190,133 225,190,133 236,923,382

43,071,300

2019 $

$ $

4,345,351 19,486,843 2,993,912 (12,239,961) 235,180 14,821,325 229,510,827 229,510,827 244,332,152 10,330,313 1,754,523 21,825,036

(12,239,961) (164,934) 21,504,977 203,685,156 203,685,156 225,190,133

19,142,019

2018 $

3,848,387 17,972,364 612,903 (11,908,412) 6,988,272 17,513,514 211,997,313 211,997,313 229,510,827

$ $

8,766,068 1,511,546 22,518,132

(11,908,412) (166,622) 20,720,712 182,964,444 182,964,444 203,685,156

25,825,671

2017 $

$ $

4,026,131 17,276,218 (1,619,349) (10,884,662) 8,798,338 203,198,975 203,198,975 211,997,313 9,537,098 1,514,657 16,635,024

2016 $

$ $

3,960,640 16,386,234 4,343,366 (10,002,824) 1,850,931 (22,826,617) (6,288,270) 209,487,245 209,487,245 203,198,975 9,218,730 1,198,413 2,794,517

(10,884,662) (169,932) 16,632,185 166,332,259 166,332,259 182,964,444

(10,002,824) (121,308) 3,087,528 163,244,731 163,244,731 166,332,259

29,032,869

36,866,716

82.98%

84.62%

92.17%

88.75%

86.31%

81.86%

$17,006,487

$17,751,985

$16,479,660

$14,558,858

$14,881,215

$14,375,815

304.42%

242.63%

116.16%

177.39%

195.10%

256.45%

9/30/2020

9/30/2019

9/30/2018

9/30/2017

9/30/2016

9/30/2015

City of Coral Springs, Florida Required Supplementary Information (unaudited) Firefighters’ Retirement Plan Schedule of Changes in the Net Pension Liability (Asset) and Related Ratios Last Ten Fiscal Years 2025 Total pension liability Service cost Interest Share plan allocation Differences between expected and actual experience Contributions-buy back Benefit payments, including refunds of employee contributions

4,521,741 12,083,281 1,008,337 8,218,756 -

Plan fiduciary net position Contributions-employer Contributions-employee Contributions-state Net investment income (loss) Benefit payments, including refunds of employee contributions Administrative expense Net change in plan fiduciary net position Total pension liability – beginning Adjustment to beginning balance* Plan fiduciary net position – beginning Plan fiduciary net position – ending (b) City’s net pension liability (asset)-(a)–(b) Plan fiduciary net position as a percentage of the total pension liability

(6,204,820)

Changes of benefit terms Assumption changes Net change in total pension liability Total pension liability – beginning Adjustment to beginning balance Total pension liability – beginning Total pension liability – ending (a)

2024 3,788,649 10,152,669 959,234 (4,084,926) -

2023 $

(5,389,566)

2022

3,723,552 9,385,961 672,797 1,182,238 12,513

(3,544,158)

3,989,849 8,049,029 1,221,564 16,268 (2,295,968)

20,877,608

19,627,295 165,246,614 165,246,614 $ 184,873,909

26,303,668 138,942,947 138,942,947 $ 165,246,615

11,432,903 127,510,044 127,510,044 $ 138,942,947

10,980,742 108,179,231 8,350,071 116,529,302 $ 127,510,044

4,457,231 1,613,821 2,478,022 32,351,063

4,847,630 1,502,802 2,433,666 14,305,784

4,267,758 1,347,069 2,216,334 (23,990,215)

3,599,707 1,354,859 26,309,128

(6,204,820) (303,294) 34,392,023 160,524,158 160,524,158 $ 194,916,181

(5,389,566) (280,735) 17,419,581 143,104,578 143,104,578 $ 160,524,159

(3,544,158) (229,991) (19,933,203) 163,037,781 163,037,781 $ 143,104,578

(2,295,968) (233,125) 28,734,601 125,953,109 8,350,071 134,303,180 $ 163,037,781

(10,042,272)

4,722,456

(4,161,631)

(35,527,737)

105.43%

97.14%

103.00%

127.86%

Covered payroll City's net liability (asset) as a percentage of covered payroll

$16,984,883

$16,589,147

$15,320,201

$15,226,115

-59.12%

28.47%

-27.16%

-233.33%

Measurement date

9/30/2024

9/30/2023

9/30/2022

9/30/2021

* The Total Pension Liability – beginning and Plan Fiduciary Net Position – beginning for fiscal year 2022 includes DROP amounts that are now being included due to the implementation of GASB 84. That amount is $13,936,351.

2021 $

2020

4,789,849 8,187,356 (2,429,730) 3,754

(1,654,783)

4,413,393 6,699,310 (433,121) -

(1,654,783) (161,355) 12,298,364 113,654,745 113,654,745 $ 125,953,109 $

(17,773,878)

(1,226,405)

(5,919,509) 2,976,937 105,202,294 105,202,294 $ 108,179,231 3,811,837 1,342,121 8,960,544

2019 3,558,204 6,752,394 (385,276) -

2018 $

2017

3,367,278 5,869,494 (843,752) -

(833,316)

(758,448)

2016

3,115,093 5,316,210 (1,503,467) -

(662,875)

3,036,432 5,426,558 (781,690) (699,229)

89,760

(197,858)

10,335,289 19,788,466 85,413,828 85,413,828 105,202,294

9,181,766 76,232,062 76,232,062 85,413,828

2,588,902 10,223,474 66,008,588 66,008,588 76,232,062

6,264,961 59,743,627 59,743,627 66,008,588

(8,086,717) (1,302,504) 61,046,131 61,046,131 59,743,627

3,990,271 1,279,792 5,294,905

(1,226,405) (153,696) 9,184,867 104,469,878 104,469,878 113,654,745

(8,452,451)

$ $

3,758,133 1,295,062 9,337,547

(833,316) (118,709) 13,438,717 91,031,161 91,031,161 104,469,878

(19,056,050)

$ $

2,786,119 1,209,511 9,668,604

(758,448) (133,399) 12,772,387 78,258,774 78,258,774 91,031,161

(14,799,099)

$ $

3,069,685 1,134,480 6,820,097

$ $

2,669,685 1,084,035 (493,412)

(662,875) (114,194) 10,247,193 68,011,581 68,011,581 78,258,774

(699,229) (87,545) 2,473,534 65,538,047 65,538,047 68,011,581

(12,250,186)

(8,267,954)

116.43%

108.03%

122.31%

119.41%

118.56%

113.84%

$15,354,699

$14,483,662

$14,193,075

$13,459,531

$12,808,109

$12,414,588

-115.76%

-58.36%

-134.26%

-109.95%

-95.64%

-66.60%

9/30/2020

9/30/2019

9/30/2018

9/30/2017

9/30/2016

9/30/2015

City of Coral Springs, Florida Required Supplementary Information (unaudited) General Employees’ Retirement Plan Schedule of Contributions Last Ten Fiscal Years

Year

2025

Actuarially determined contribution

2024 -

2023

87,915

600,000 (512,085)

2022

581,357

800,000 (218,643)

2021

597,101

800,000 (202,899)

661,616

750,000 (88,384)

Contribution made in relation to the actuarially determined contribution Contribution – deficiency (excess)

Covered payroll *

100,000 (100,000) -

Contributions as a percentage of covered payroll

Not applicable Not applicable

Year

2020

Actuarially determined contribution

Not applicable

2019

611,634

actuarially determined contribution Contribution – deficiency (excess) Covered payroll *

Not applicable

2018

572,640

611,634 -

600,000 (27,360)

Not applicable

2017

587,157

428,916

587,157 -

2016 $

410,992

529,000 (100,084)

529,000 (118,008)

43,036

49,416

Contribution made in relation to the

Contributions as a percentage of covered payroll

Not applicable

Not applicable Not applicable

1229.20%

1070.50%

* Beginning in fiscal year 2018, there were no active employees in the General Employees’ Retirement Plan. As a result, covered payroll is zero. Notes to Schedule: Valuation date

October 1, 2023

The following actuarial methods and assumptions were used in 2024, to determine contribution rates reported in this schedule: Actuarial cost method Amortization method Remaining amortization period Asset valuation method Actuarial assumptions: Investment rate of return Assumed annual salary increases Inflation Cost-of-living adjustments Mortality rates

Entry age normal Level dollar, closed 5 years Three-year smoothed fair value 5.00% Not applicable (no active members) 2.00% 2.00% Mortality assumptions are the same as that used by the Florida Retirement System (FRS) for Regular Class (non K-12 Instructions) members in the actuarial report as of July 1, 2021. FRS described the rates as taken from PUB-2010 Headcount Weighted Mortality Tables with mortality improvements projected to all future years after 2010 using Scale MP-2018. For females, the base table used is the Below Median Healthy Retiree Female table. For males, the base table used is the Below Median Healthy Retiree Male Table set back 1 year

City of Coral Springs, Florida Required Supplementary Information (unaudited) Police Officers’ Retirement Plan Schedule of Contributions Last Ten Fiscal Years

Year

2025

Actuarially determined contribution

2024

2023

2022

2021

$ 11,180,566

$ 11,697,770

12,211,230

$ 11,175,044

$ 10,406,927

actuarially determined contribution * Contribution – deficiency (excess)

15,095,270 (2,884,040)

14,282,538 $ (3,107,494)

Covered payroll

20,107,900

$ 19,538,349

$ 18,520,913

$ 18,643,645

$ 17,481,543

73.10%

58.00%

60.28%

67.13%

$ 2,619,355

$ 2,848,630

Contribution made in relation to the 10,741,319 (334,392)

11,238,201 (57,635)

11,735,573 (37,803)

Contributions as a percentage of covered payroll * Drop contributions not available to fund the total pension liability

75.07% $

2,963,594

2019

2018

2017

2016

11,534,214

$ 11,310,398

$ 10,220,960

$ 9,194,365

$ 9,015,031

actuarially determined contribution Contribution – deficiency (excess)

11,194,923 339,291

Covered payroll

17,006,487

$ 17,751,985

$ 16,479,660

$ 14,558,858

$ 14,881,215

64.88%

64.09%

60.21%

64.09%

Year

2020

Actuarially determined contribution Contribution made in relation to the

11,518,268 (207,870)

10,330,313 (109,353)

8,766,068 428,297

9,537,098 (522,067)

Contributions as a percentage of covered payroll

65.83%

Notes to Schedule: Valuation date

October 1, 2023

The following actuarial methods and assumptions were used in 2025, to determine contribution rates reported in this schedule: Actuarial cost method Amortization method Remaining amortization period Asset valuation method Actuarial assumptions: Investment rate of return Assumed annual salary increases Inflation Cost-of-living adjustments Mortality rates

Entry Age Normal Level dollar, open Benefit changes: 30 years; all other changes: 23 years The actuarial value of assets is equal to the market value of assets, adjusted to reflect a five-year phase-in of the net investment appreciation (depreciation) 7.00% 4.75% to 10.00% depending on years of service 2.50% 2.5% for benefits earned prior to October 1, 2012; 1%, delayed for 5 years, for benefits earned after September 30, 2012 Pub 2010 Mortality Tables with generational improvements in mortality using Scale MP 2018, with appropriate adjustments made based on plan demographics

City of Coral Springs, Florida Required Supplementary Information (unaudited) Firefighters’ Retirement Plan Schedule of Contributions Last Ten Fiscal Years

Year Actuarially determined contribution Contribution made in relation to the actuarially determined contribution * Contribution – deficiency (excess) Covered payroll Contributions as a percentage of covered payroll * Drop contributions not available to fund the total pension liability Year Actuarially determined contribution Contribution made in relation to the actuarially determined contribution Contribution – deficiency (excess) Covered payroll Contributions as a percentage of covered payroll

Notes to Schedule: Valuation date

2025 3,814,209

2024 3,395,004

2023 2,745,360

2022 2,892,064

2021 3,599,707

7,986,922 $ (4,172,713)

4,128,022 (733,018)

4,963,688 $ (2,218,328)

3,599,708 (707,644)

3,599,707 -

$ 17,045,262

$ 16,984,883

$ 16,589,147

$ 15,320,201

$ 15,226,115

46.86%

24.30%

29.92%

23.50%

23.64%

3,112,768

2,807,231

2,317,608

2020 3,811,837

2019 3,912,459

2018 3,758,133

2017 3,432,180

2016 3,306,199

3,811,837 -

3,990,271 (77,812)

3,758,133 -

2,786,119 646,061

3,069,685 236,514

$ 15,354,699

$ 14,483,662

$ 14,193,075

$ 13,459,531

$ 12,808,109

24.83%

27.55%

26.48%

20.70%

23.97%

October 1, 2023

Entry Age Normal Level dollar, closed 15 years Five-year smoothed fair value 7.25% 3.50% to 10.00% depending on service 2.50% 1.00% Pub 2010 Headcount Weighted Mortality Tables, generational mortality using MP 2018 mortality improvement projection scale. The tables used during employment were set forward 1 year for males. The tables used for Healthy post employment are the Below Median Healthy Retiree Tables, set forward 1 year.

100

City of Coral Springs, Florida Required Supplementary Information (unaudited) General Employees’ Retirement Plan Schedule of Investment Returns (Losses) Last Ten Fiscal Years

Annual money-weighted rate of return (loss), net of investment expense

2025

2024

2023

2022

2021

4.95%

19.07%

8.70%

(16.30)%

17.10%

2020

2019

2018

2017

2016

8.90%

4.00%

5.20%

9.00%

9.40%

101

City of Coral Springs, Florida Required Supplementary Information (unaudited) Other Post-Employment Benefits – Employer Reporting Schedule of Changes in the Net OPEB Liability and Related Ratios Last Eight Fiscal Years 2025 Total OPEB liability Service cost Interest

755,518 864,503

Differences between expected and actual experience Changes of assumptions Benefit payments, including refunds of employee contributions Net change in total OPEB liability Total OPEB liability – beginning Total OPEB liability – ending (a)

2024

1,345,873 993,918

1,093,152 1,053,359

886,420 959,711

2019 $

1,927,287 965,321

2018 $

897,710 931,779

(147,833)

1,573,472

2,785,360

(607,682)

3,750,840

1,225,060

1,464,464

(9,885,015)

(1,812,185) 1,321,560 21,838,373 $ 23,159,933

(1,830,553) (7,883,279) 29,721,652 $ 21,838,373

(1,467,548) (6,582,893) 36,304,545 $ 29,721,652

(1,420,544) 6,243,559 30,060,986 $ 36,304,545

(915,237) 2,456,334 27,604,652 $ 30,060,986

(1,239,077) 4,856,878 22,747,774 $ 27,604,652

(1,451,697) (9,051,786) 31,799,560 $ 22,747,774

(794,095) 1,035,394 30,764,166 $ 31,799,560

$ 14,772,748

214,200 1,297,045 (8,096) 1,503,149 6,884,036 8,387,185

1,629,394 1,189,380

2020

(7,786,286)

Measurement date

2021

(8,081,322)

City’s net OPEB liability – (a) – (b)

Covered payroll City’s net liability as a percentage of covered payroll

643,009 1,385,587

2022

1,513,724

Plan fiduciary net position Contributions-employer Net investment income (loss) Administrative expense Net change in plan fiduciary net position Plan fiduciary net position – beginning Plan fiduciary net position – ending (b)

Plan fiduciary net position as a percentage of the total OPEB liability

2023

214,200 466,400 (7,239) 673,361 6,210,675 6,884,036

$ 14,954,337

214,200 (940,904) (7,477) (734,181) 6,944,856 6,210,675

$ 23,510,977

214,200 975,819 (6,989) 1,183,030 5,761,826 6,944,856

$ 29,359,689

210,000 344,558 (5,817) 548,741 5,213,085 5,761,826

$ 24,299,160

208,370 294,144 (5,375) 497,139 4,715,946 5,213,085

$ 22,391,567

208,370 258,484 (4,955) 461,899 4,254,047 4,715,946

$ 18,031,828

204,285 452,887 (4,406) 652,766 3,601,281 4,254,047

$ 27,545,513

36.21%

31.52%

20.90%

19.13%

19.17%

18.88%

20.73%

13.38%

$ 76,964,814

$ 84,549,160

$ 74,311,691

$ 70,733,735

$ 70,175,464

$ 67,263,824

$ 65,161,527

19.2%

19.4%

27.8%

39.5%

34.4%

31.9%

26.8%

42.3%

9/30/2024

9/30/2023

9/30/2022

9/30/2021

9/30/2020

9/30/2019

9/30/2018

9/30/2017

Notes to Schedule: * Changes in assumptions In 2025, the discount rate decreased from 4.81% to 4.13%. In 2024, the discount rate decreased from 5.10% to 4.81%. In 2023, the discount rate increased from 3.21% to 5.10%, and the mortality improvement scale was updated from MP-2020 to MP-2021. * This Schedule is presented to illustrate the requirement to show information for 10 years. However, until a full 10-year trend is compiled, information for those years for which information is available will be presented.

102

City of Coral Springs, Florida Required Supplementary Information (unaudited) Other Post-Employment Benefits – Employer and Plan Reporting Schedule of City Contributions – OPEB Last Nine Fiscal Years

Actuarially determined contribution

2025

2024

2023

2022

2021

2020

2019

2018

$ 1,703,736

$ 1,634,029

$ 1,648,701

$ 2,812,849

$ 2,149,914

$ 2,148,156

$ 1,857,283

$ 1,812,791

2017 298,000

1,830,553 (181,852)

1,681,748 $ 1,131,101

1,634,744 515,170

1,125,237 $ 1,022,919

1,660,067 152,724

596,000 (298,000)

Contribution made in relation to the actuarially determined contribution * Contribution – deficiency (excess)

2,002,153 (298,417)

Covered payroll

$ 87,717,770

$ 76,964,814

$ 84,549,160

$ 74,311,691

$ 70,733,735

$ 70,175,464

$ 67,263,824

$ 65,161,527

covered payroll

2.28%

2.63%

2.38%

1.99%

2.20%

1.59%

2.06%

2.47%

0.91%

Notes to Schedule: Valuation date

October 1, 2024

2,026,385 (392,356)

1,447,447 409,836

Contributions as a percentage of

Methods and assumptions used to determine contribution rates: Actuarial cost method Entry age normal Amortization method Level dollar, open Amortization period 19 years Fair value Asset valuation method Actuarial assumptions: Investment rate of return 5.50% Assumed annual salary increases 3.00% Inflation 2.50% Healthcare cost trend rates Medical Select rates 7.00% initial medical trend rate for retirees Ultimate rate 4.50% per annum beginning 2037 Mortality rates Society of Actuaries Pub-2010 Public Retirement Plans Healthy male and Female Total Dataset Headcount-Weighted Mortality tables based on Employee and Healthy Annuitant Tables for both pre- and post-retirement projected with mortality improvements using the most current Society of Actuaries Mortality Improvement Scale MP-2021. * Contributions made include payments made to the OPEB Trust Fund and claims cost in excess of retiree contributions. This Schedule is presented to illustrate the requirement to show information for 10 years. However, until a full 10-year trend is compiled, information for those years for which information is available will be presented.

103

City of Coral Springs, Florida Required Supplementary Information (unaudited) Other Post-Employment Benefits – Plan Reporting Schedule of Changes in the Net OPEB Liability and Related Ratios Last Nine Fiscal Years

2025 Total OPEB liability Service cost Interest Differences between expected and actual experience

2024

694,805 1,041,466

2023

755,518 864,503

2022

643,009 1,385,587

1,629,394 1,189,380

1,345,873 993,918

2020 $

2019

1,093,152 1,053,359

886,420 959,711

2018 $

1,927,287 965,321

2017 $

897,710 931,779

(147,833)

1,573,472

2,785,360

(607,682)

1,342,023

1,513,724

(8,081,322)

(7,786,286)

3,750,840

1,225,060

1,464,464

(9,885,015)

(2,002,153) 1,076,141 23,159,933 $ 24,236,074

(1,812,185) 1,321,560 21,838,373 $ 23,159,933

(1,830,553) (7,883,279) 29,721,652 $ 21,838,373

(1,467,548) (6,582,893) 36,304,545 $ 29,721,652

(1,420,544) 6,243,559 30,060,986 $ 36,304,545

(915,237) 2,456,334 27,604,652 $ 30,060,986

(1,239,077) 4,856,878 22,747,774 $ 27,604,652

(1,451,697) (9,051,786) 31,799,560 $ 22,747,774

(794,095) 1,035,394 30,764,166 $ 31,799,560

222,373 693,545 (9,093)

Net change in plan fiduciary net position Plan fiduciary net position–beginning Plan fiduciary net position–ending (b) $

906,825 8,387,185 9,294,010

Changes of assumptions Benefit payments, including refunds of employee contributions Net change in total OPEB liability Total OPEB liability – beginning Total OPEB liability – ending (a) Plan fiduciary net position Contributions-employer Net investment income (loss) Administrative expense

City’s net OPEB liability – (a) – (b)

$ 14,942,064

Plan fiduciary net position as a percentage of the total OPEB liability Covered payroll City’s net liability as a percentage of covered payroll Measurement date

87,717,770

1,503,149 6,884,036 8,387,185

$ 14,772,748

38.35% $

214,200 1,297,045 (8,096)

2021

76,964,814

673,361 6,210,675 6,884,036

$ 14,954,337

36.21% $

214,200 466,400 (7,239)

76,964,814

(734,181) 6,944,856 6,210,675

$ 23,510,977

31.52% $

214,200 (940,904) (7,477)

84,549,160

1,183,030 5,761,826 6,944,856

$ 29,359,689

20.90% $

214,200 975,820 (6,990)

74,311,691

548,741 5,213,085 5,761,826

$ 24,299,160

19.13% $

210,000 344,559 (5,818)

19.17% $

70,733,735

208,370 294,144 (5,375) 497,139 4,715,946 5,213,085

$ 22,391,567

208,370 258,484 (4,955) 461,899 4,254,047 4,715,946

$ 18,031,828

204,285 452,887 (4,406) 652,766 3,601,281 4,254,047

$ 27,545,513

18.88%

20.73%

13.38%

$ 70,175,464

$ 67,263,824

$ 65,161,527

17.03%

19.19%

19.43%

27.81%

39.51%

34.35%

31.91%

26.81%

42.27%

9/30/2024

9/30/2023

9/30/2022

9/30/2021

9/30/2020

9/30/2019

9/30/2018

9/30/2017

This Schedule is presented to illustrate the requirement to show information for 10 years. However, until a full 10-year trend is compiled, information for those years for which information is available will be presented.

104

City of Coral Springs, Florida Required Supplementary Information (unaudited) Other Post-Employment Benefits – Plan Reporting Schedule of Investment Returns – OPEB Last Nine Fiscal Years

Annual money-weighted rate of return (loss), net of investment expense

2025

2024

2023

2022

2021

8.07%

18.23%

7.28%

-13.11%

16.31%

2020

2019

2018

2017

6.37%

5.87%

5.92%

11.97%

Notes to Schedule: This Schedule is presented to illustrate the requirement of GASB 74. The requirement is to show information for 10 years. However, until a full 10-year trend is compiled, information for those years for which information is available will be presented.

105

City of Coral Springs, Florida Notes to Required Supplementary Information (Unaudited) Budgetary Procedures and Budgetary Accounting The City adheres to the following procedures in establishing the budgetary data reflected in the accompanying financial statements: Prior to September 30, the City Manager submits to the City Commission proposed operating budgets for the General Fund, Debt Service Fund, Fire Special Revenue Fund, Charter School Special Revenue Fund, Museum of Art Fund, Public Art Special Revenue Fund, Enterprise Funds and Internal Service Funds for the fiscal year commencing October 1. The operating budget includes proposed expenditures and the means of financing them. As part of the City’s annual budgeting process, expenditures and funding sources for capital projects are identified through the Capital Improvement Program Budget. The Grant Fund, American Rescue Plan Fund and Tree Trust Fund do not have a legally adopted budget. Public hearings are conducted at City Hall to obtain taxpayer comments. Prior to September 30, the budget is legally enacted through passage of a resolution. Each department director is authorized to transfer budget amounts within individual departments as long as the total expenditures for that department does not increase. Revisions that alter the total expenditures of any department within a fund must be approved by the City Manager as long as the total expenditures for that fund does not increase. The City Commission must approve revisions of the adopted budget that alter the total expenditures of any fund. Actual expenditures and operating transfers out may not exceed budget appropriations at the individual fund level. Legal level of control is maintained at the fund level. If during the fiscal year it becomes evident that a particular fund is unable to provide the required level of services to the community due to unexpected higher costs of providing services or a shortfall of revenue, the budget may be amended. The Director of Budget and Strategy submits to the City Commission a request to amend the budget. The request contains explanations written by the director(s) of the department(s) making the request. The request includes a proposal for financing if additional expenditures are requested. From time to time, the City may appropriate funds that are intended to roll into fund balance at the end of a given fiscal year. While these funds are not considered part of fund balance until the end of the applicable fiscal year in which it is budgeted, such appropriation provides additional capacity to fund unanticipated expenditures that may occur. The accompanying budgetary data represents the original and the final amended budgets as approved by the City Commission. The difference between the two columns represents authorized budget transfers within the fiscal year.

106

City of Coral Springs, Florida Notes to Required Supplementary Information (Unaudited) The following schedule reconciles the General Fund’s revenue and expenditure amounts on the schedule of revenue, expenditures, and changes in fund balances – budget and actual (budgetary basis) to amounts on the statement of revenue, expenditures and changes in fund balances:

Revenue and expenditures – budgetary basis State contribution for Police and Fire Pension Funds Expenses related to the State contribution for the Police and Fire Pension Funds Budgeted intrafund transfers for parks replacement Budgeted intrafund transfers for computer replacement Computer replacement revenues Computer replacement expenditures Revenue, expenditures – GAAP basis

Revenues $ 186,093,097 4,408,562

Expenditures $ 161,847,723 -

1,855 $ 190,503,514

4,408,562 (576,637) (650,076) 925,144 $ 165,954,716

The General Fund budget is prepared on the modified accrual basis. Certain General Fund operations are not budgeted and are excluded from the budget to actual presentation. The operations that are not budgeted are the State Contributions for the Police and Fire Pension Funds, the Parks Replacement Reserve expenditures, the Computer Replacement Reserve expenditures, the Facilities Replacement Reserve expenditures, and Leases proceeds and capital outlay expenditures. However, intrafund transfers to fund computer replacement expenditures and parks replacement expenditures are budgeted in the General Fund.

107

Nonmajor Governmental Funds Nonmajor Special Revenue Funds Special Revenue Funds are used to account for specific revenue that is restricted to expenditures for particular purposes.  Charter School Fund – to account for the operations of the Coral Springs Charter School.  Law Enforcement Contraband Forfeiture Fund – to account for law enforcement related projects funded by the proceeds from forfeited confiscated property.  Museum of Art Fund – to account for the operations of the Coral Springs Museum of Art.  Tree Trust Fund – to account for fines received in accordance with the City’s tree preservation ordinance.  Public Art Fund – to account for the operations related to the City’s public art program.  Affordable Housing Fund – to account for the fees charged to developers as means to fund the City’s affordable housing program for the benefit of current and future residents.  The American Rescue Plan Fund is a special revenue fund used to account for funds received from the federal government to facilitate the recovery from the economic impact and health effects of the COVID-19 pandemic.  Grants Fund – to account for certain federal, state and local grants received by the City.  SHIP Fund – to account for the State Housing Initiatives Partnership administered by the State of Florida.  Opioid Settlement Fund – to account for Opioid settlements received from the State of Florida.  JUUL Fund - to account for JUUL settlements received as a result of a class action lawsuit. Nonmajor Debt Service Fund The Debt Service Fund is used to account for the accumulation of resources for, and the payment of, general government debt principal, interest, and related costs paid primarily from taxes levied by the City. Nonmajor Capital Projects Funds Capital projects funds are used to account for the acquisition and construction of major capital facilities other than those financed by proprietary funds and trust funds.     

Special Obligation Bond Series 2015B Fund – to account for the construction of improvements within the City funded by this bond series. Special Obligation Bond Series 2017 Fund – to account for the acquisition and renovation of an existing building which will be used for governmental purposes and to construct additional parking. Special Obligation Note Series 2019 Fund – to account for the acquisition and installation of an enterprise resource software system. Special Obligation Bond Series 2020 Fund – to account for the construction of the Westside Campus and the Fire Station 64 Campus funded by this bond series. Sales Tax Surtax Fund – to account for ranked municipal surtax capital projects to be funded using the County one-cent transportation surtax.

City of Coral Springs, Florida

Nonmajor Special Revenue Funds Combining Balance Sheet September 30, 2025 Law Enforcement Contraband Forfeiture Fund

Charter School Fund Assets Pooled cash and cash equivalents Pooled investments Interest receivable Accounts receivables, net Due from other governments Prepaid items Total assets Liabilities Accounts payable and accrued liabilities Due to other funds Deposits and unearned revenue Total liabilities

5,319,994 4,660,589 58,268 $ 10,038,851

Deferred inflows of resources Unavailable revenue Total deferred inflow of resources Fund Balances Restricted Capital projects Charter school operations Law enforcement Public art Physical environment Affordable housing Unassigned Special Revenue Funds Total fund balances (deficits) Total liabilities, deferred inflows and fund balances

2,634,034 2,106,400 26,335 10,536 4,777,305

308 24,481 24,789

Museum of Art Fund $

Tree Trust Fund

189,366 165,719 2,072 357,157

89,597 89,597

Public Art Fund

540,769 473,741 5,923 1,020,433

28,944 28,944

1,132,435 992,072 12,403 2,136,910

1,238 273,764 275,002

10,038,851 -

4,752,516 -

267,560 -

991,489 -

1,861,908 -

10,038,851

4,752,516

267,560

991,489

1,861,908

$ 10,038,851

(Continued)

108

4,777,305

357,157

1,020,433

2,136,910

American Rescue Plan Fund

Affordable Housing Fund $

106,902 93,652 1,171 201,725

Grant Fund

2,878,936 2,522,096 31,532 5,432,564

538,021 3,382,537 3,920,558

Opioid Settlement Fund

SHIP Fund

734,584 643,535 8,046 1,087,520 2,473,685

216,362 1,920,256 2,136,618

2,426,643 2,125,865 26,578 4,579,086

3,312,213 3,312,213

Total Nonmajor Special Revenue Funds

JUUL Fund

156,225 136,862 1,711 294,798

198,492 173,889 2,174 374,555

$ 16,318,380 14,094,420 176,213 10,536 1,087,520 $ 31,687,069

874,470 8,913,251 9,787,721

1,060,495 1,060,495

201,725

1,512,006 -

1,266,873

294,798 -

374,555 -

1,512,006 10,038,851 5,421,869 2,129,468 991,489 1,468,598

201,725

1,512,006

1,266,873

294,798

374,555

(723,428) 20,838,853

374,555

$ 31,687,069

201,725

5,432,564

(723,428) (723,428) $

2,473,685

4,579,086

109

294,798

City of Coral Springs, Florida Nonmajor Debt Service Fund Combining Balance Sheet September 30, 2025 Debt Service Fund Assets Pooled cash and cash equivalents Pooled investments Interest receivable Total assets

$ $

Liabilities Deposits Total liabilities

Fund Balances Assigned Debt service Total fund balances Total liabilities and fund balances

$ (Continued)

110

680,694 596,324 7,455 1,284,473 44,055 44,055

1,240,418 1,240,418 1,284,473

City of Coral Springs, Florida Nonmajor Capital Projects Funds Combining Balance Sheet (Continued) September 30, 2025 Special Obligation Bond Series 2017 Fund Assets Pooled cash and cash equivalents Pooled investments Interest receivable Accounts receivables, net Due from other governments Total assets Liabilities Accounts payable and accrued liabilities Deposits and unearned revenue Total liabilities Deferred inflows of resources Unavailable revenue Total deferred inflow of resources Fund Balances Restricted Capital projects Charter school operations Law enforcement Public art Physical environment Affordable housing Assigned Debt service Unassigned Special Revenue Funds Capital Projects Funds Total fund balances Total liabilities and fund balances

$ $

111

Special Obligation Note Series 2019 Fund

33,992 29,779 370 64,141

Special Obligation Bond Series 2020 Fund

1,441,284 46,426 4,325 1,492,035

4,409 4,409

178,906 46,426 1,252 226,584 -

64,141 -

1,487,626 -

226,584 -

64,141 64,141

1,487,626 1,492,035

226,584 226,584

Total Nonmajor Capital Projects Fund

Sales Tax Surtax Fund $

$ $

478,648 86,915 565,563 11,211 554,353 565,564

$ $

Total Nonmajor Governmental Funds

2,132,830 122,631 5,947 86,915 2,348,323 15,620 554,353 569,973

$ $

19,131,904 14,813,375 189,615 10,536 1,174,435 35,319,865 890,090 9,511,659 10,401,749

86,915 86,915

1,147,410 1,147,410

1,778,351 -

3,290,357 10,038,851 5,421,869 2,129,468 991,489 1,468,598

1,240,418

(86,916) (86,916) 565,563

(86,916) 1,691,435 2,348,323

(723,428) (86,916) 23,770,706 35,319,865

112

City of Coral Springs, Florida

Nonmajor Special Revenue Funds Combining Statement of Revenue, Expenditures and Changes in Fund Balances Fiscal Year Ended September 30, 2025 Law Enforcement Contraband Forfeiture Fund

Charter School Fund Revenues Intergovernmental Licenses and permits Charges for services Fines and forfeitures Interest and other Total revenue Expenditures Current: Public safety: Police Fire and rescue Parks and recreation Public works Development services Educational and cultural programs Capital outlay Total expenditures Excess (deficiency) of revenue over (under) expenditures Other financing sources (uses) Transfers in Transfers out Total other financing sources (uses) Net change in fund balances Fund balances, beginning of year, as originally reported Changes to financial reporting entity Fund balances, beginning of year, as restated Fund balances (deficits), end of year

$ 22,374,385 372,960 22,747,345

1,059,493 208,169 1,267,662

Museum of Art Fund $

134,491 119,112 253,603

Tree Trust Fund $

Public Art Fund

52,001 51,906 42,273 146,180

21,354 94,209 115,563

20,259,822 329,911 20,589,733

1,553,244 249,828 1,803,072

661,514 661,514

9,223 9,223

40,003 54,500 94,503

2,157,612

(535,410)

(407,911)

136,957

21,060

494,134 -

2,157,612

(535,410)

494,134 86,223

136,957

21,060

7,881,239 -

5,287,926 -

181,337 -

854,532 -

1,840,848 -

7,881,239 $ 10,038,851

5,287,926 4,752,516

(Continued)

113

181,337 267,560

854,532 991,489

1,840,848 1,861,908

Affordable Housing Fund $

8,276 8,276

(formerly major) American Rescue Plan Fund $

3,541,785 57,181 3,598,966

Opioid Settlement Fund

SHIP Fund $

180,696 202,639 383,335

142,346 142,346

JUUL Fund $

43,666 43,666

$ 31,742,704 52,001 155,845 1,111,399 1,395,691 34,457,640

375,000 375,000

5,455,752 5,455,752

72 178,503 88,532 10,130 465,677 25,373 1,538,222 2,306,509

1,075,840 1,075,840

12,008 12,008

1,553,316 178,503 88,532 10,130 1,916,517 20,986,712 7,649,444 32,383,154

(366,724)

294,946

1,292,457

(692,505)

142,346

31,658

2,074,486

(4,074)

335,032 (408,861)

829,166 (412,935)

(366,724)

(4,074) 290,872

(73,829) 1,218,628

(692,505)

142,346

31,658

416,231 2,490,717

568,449 -

1,221,134

17,322 (1,959,378)

1,959,378

152,452 -

342,897 -

17,127,002 1,221,134

342,897 374,555

18,348,136 $ 20,838,853

5,459,826 290,872 5,750,698

Grant Fund

Total Nonmajor Special Revenue Funds

568,449 201,725

1,221,134 1,512,006

(1,942,056) (723,428)

1,959,378 1,266,873

114

152,452 294,798

City of Coral Springs, Florida Nonmajor Debt Service Fund Combining Statement of Revenue, Expenditures and Changes in Fund Balances Fiscal Year Ended September 30, 2025 Debt Service Fund Revenues Ad valorem tax Intergovernmental Interest and other Total revenue

2,584,913 51,599 86,760 2,723,272

Expenditures Current: Debt service: Principal Interest and other Total expenditures Excess (deficiency) of revenue over (under) expenditures

(10,137,043)

Other financing sources Transfers in Total other financing sources Net change in fund balances Fund balances, beginning of year Fund balances, end of year

10,053,961 10,053,961 (83,082) 1,323,500 1,240,418

10,508,875 2,351,440 12,860,315

$ (Continued)

115

City of Coral Springs, Florida Nonmajor Capital Projects Funds Combining Statement of Revenue, Expenditures and Changes in Fund Balances (Continued) Fiscal Year Ended September 30, 2025

Revenues Ad valorem tax Intergovernmental Licenses and permits Charges for services Fines and forfeitures Interest and other Total revenue Expenditures Current: Public safety: Police Fire and rescue Parks and recreation Public works Development services Educational and cultural programs Capital outlay Debt service: Principal Interest and other Total expenditures Excess (deficiency) of revenue over (under) expenditures Other financing sources (uses) Transfers in Transfers out Total other financing sources (uses) Net change in fund balance Fund balances, beginning of year, as originally reported Changes to financial reporting entity Fund balances, beginning of year, as restated Fund balances, end of year

Capital Revenue Bond 2015B Fund

Special Obligation Bond Series 2017 Fund

Special Special Obligation Note Obligation Bond Series 2019 Fund Series 2020 Fund

48,205 48,205

9,735 9,735

9,910

35,286

168,729

9,910

35,286

168,729

(9,910)

12,919

(158,994)

(71,278) (71,278)

(81,188)

12,919

(158,994)

81,188 -

64,141 -

1,474,707 -

385,578 -

81,188 -

116

64,141 64,141

1,474,707 1,487,626

385,578 226,584

Sales Tax Surtax Fund

Total Nonmajor Capital Projects Fund

Total Nonmajor Governmental Funds

1,036,929 1,036,929

2,584,913 32,831,232 52,001 155,845 1,111,399 1,540,391 38,275,781

1,123,845

1,337,770

1,553,316 178,503 88,532 10,130 1,916,517 20,986,712 8,987,214

1,123,845

1,337,770

10,508,875 2,351,440 46,581,239

(86,916)

(242,901)

(8,305,458)

(71,278) (71,278)

10,883,127 (484,213) 10,398,914

(314,179)

2,093,456

2,005,614 -

20,456,116 1,221,134

(86,916) $

1,036,929 57,940 1,094,869

(86,916)

2,005,614 1,691,435

21,677,250 23,770,706

117

City of Coral Springs, Florida

Coral Springs Charter School Special Revenue Fund – Nonmajor Schedule of Revenue, Expenditures and Changes in Fund Balances – Budget and Actual Fiscal Year Ended September 30, 2025

Budgeted Amounts Original Final Revenue: Intergovernmental Interest and other Total revenue Expenditures: Educational programs Capital outlay Total expenditures Net change in fund balance Fund balance, beginning of year Fund balance, end of year

19,244,284 65,319 19,309,603 18,355,853 953,750 19,309,603 -

20,544,284 65,319 20,609,603 19,655,853 953,750 20,609,603 -

Actual $

$ $

118

22,374,385 372,960 22,747,345 20,259,822 329,911 20,589,733 2,157,612 7,881,239 10,038,851

Variance with Final Budget $

1,830,101 307,641 2,137,742 (603,969) 623,839 19,870 2,157,612

City of Coral Springs, Florida

Museum of Art Special Revenue Fund – Nonmajor Schedule of Revenue, Expenditures, and Changes in Fund Balances – Budget and Actual Fiscal Year Ended September 30, 2025

Budgeted Amounts Original Final Revenue: Intergovernmental Charges for services Interest and other Total revenue Expenditures: Educational and cultural Cultural services Total expenditures Deficiency of revenue under expenditures Other financing sources: Transfers in Total other financing sources Appropriated fund balance Net change in fund balance Fund balance, beginning of year Fund balance, end of year

Actual

135,560 197,000 21,298 353,858

716,825 47,894 764,719

697,241 67,478 764,719

624,780 36,734 661,514

72,461 30,744 103,205

(410,861)

(407,911)

2,950

410,861 410,861 -

494,134 494,134 86,223 181,337 267,560

83,273 83,273 86,223

$ $

119

134,491 119,112 253,603

Variance with Final Budget $

(135,560) (62,509) 97,814 (100,255)

City of Coral Springs, Florida

Public Art Special Revenue Fund – Nonmajor Schedule of Revenue, Expenditures, and Changes in Fund Balances – Budget and Actual Fiscal Year Ended September 30, 2025

Budgeted Amounts Original Final Revenue: Charges for services Interest and other Total revenue Expenditures: Educational and cultural Capital outlay Total expenditures Excess (deficiency) of revenue over (under) expenditures

Appropriated fund balance Net change in fund balance Fund balance, beginning of year Fund balance, end of year

15,000 5,000 20,000

Variance with Final Budget

Actual

15,000 5,000 20,000

21,354 94,209 115,563

6,354 89,209 95,563

70,010 395,000 465,010

40,003 54,500 94,503

30,007 340,500 370,507

(445,010)

21,060

466,070

445,010

(445,010)

21,060 1,840,848 1,861,908

120

21,060

City of Coral Springs, Florida

Debt Service Fund – Nonmajor Schedule of Revenue, Expenditures and Changes in Fund Balances – Budget and Actual Fiscal Year Ended September 30, 2025

Budgeted Amounts Original Final Revenue: Ad valorem taxes Intergovernmental Interest and other Total revenue Expenditures: Debt service: Principal Interest and other Total expenditures Deficiency of revenue over expenditures

Other financing sources: Transfers in Total other financing sources Appropriated fund balance Net change in fund balances Fund balance, beginning of year Fund balance, end of year

2,554,037 50,408 2,604,445

Actual Amounts

Variance with Final Budget

2,584,913 51,599 86,760 2,723,272

30,876 1,191 86,760 118,827

10,352,224 2,360,202 12,712,426

10,604,977 2,353,429 12,958,406

10,508,875 2,351,440 12,860,315

96,102 1,989 98,091

(10,107,981)

(10,353,961)

(10,137,043)

216,918

9,807,981 9,807,981

10,053,961 10,053,961

300,000 -

(83,082) 1,323,500 1,240,418

300,000 -

121

(300,000) (83,082)

Nonmajor Enterprise Funds and Internal Service Funds Nonmajor Enterprise Funds Each of the enterprise funds accounts for all activities necessary to provide the respective services of the fund, including but not limited to, administration, operations, maintenance, financing and related debt service. 

Stormwater Fund – to account for the development and operation of the City’s stormwater management program.



Solid Waste Fund – to account for the provision of solid waste disposal services to City residents, including collection and disposal of solid waste and recycling. Internal Service Funds

Internal service funds are used to account for the financing of goods or services provided by one department or agency to other departments or agencies of the government and other government units, on a cost reimbursement basis. 

Self-Insurance Fund – to account for the costs of insuring the City in the areas of general liability, auto liability, property, life and medical benefits and workers’ compensation. The City is primarily self-insured in these areas. Other funds are billed to cover actual premium costs, claims, and to maintain an adequate net position balance.



Equipment Services Fund – to account for the provision costs of operating a maintenance facility for City vehicles. Other departments are billed to cover operating costs, including insurance and depreciation on the vehicles, and to provide for future replacement of the vehicles. New vehicles are initially purchased by the user departments and contributed to the Equipment Services Fund.

City of Coral Springs, Florida Nonmajor Enterprise Funds Combining Statement of Net Position September 30, 2025 Stormwater Fund Assets Current assets: Pooled cash and cash equivalents Pooled investments Interest receivable Total current assets Noncurrent assets: Capital assets: Construction in progress Equipment Infrastructure Less accumulated depreciation Total capital assets, net Total noncurrent assets Total assets

Deferred outflows of resources Deferred outflows for OPEB Total deferred outflow of resources Liabilities Current liabilities: Accounts payable and accrued liabilities Compensated absences Total current liabilities Noncurrent liabilities: Compensated absences Net OPEB liability Total noncurrent liabilities Total liabilities Deferred inflows of resources Deferred inflows for OPEB Total deferred inflow of resources Net Position Net investment in capital assets Unrestricted Total net position

122

2,727,200 2,389,169 29,870 5,146,239

Solid Waste Fund $

2,552,927 2,236,497 27,961 4,817,385

Total $

5,280,127 4,625,666 57,831 9,963,624

3,266,434 405,767 5,354,210 (1,074,735) 7,951,676 7,951,676 13,097,915

4,817,385

3,266,434 405,767 5,354,210 (1,074,735) 7,951,676 7,951,676 17,915,300

136,168 136,168

109,072 12,008 121,080

829,788 229 830,017

938,860 12,237 951,097

121,410 295,455 416,865 537,945

2,320 2,320 832,337

123,730 295,455 419,185 1,370,282

289,507 289,507

7,951,676 4,454,955 12,406,631

3,985,048 3,985,048

7,951,676 8,440,003 16,391,679

City of Coral Springs, Florida Nonmajor Enterprise Funds Combining Statement of Revenue, Expenses and Changes in Net Position Fiscal Year Ended September 30, 2025 Stormwater Fund Operating revenues: Charges for services Total operating revenue

4,858,904 4,858,904

Solid Waste Fund $

9,872,109 9,872,109

Total $

14,731,013 14,731,013

Operating expenses: Operating and program costs Administration Depreciation Total operating expenses Operating income

3,260,208 16,144 335,895 3,612,247 1,246,657

8,885,359 271,290 9,156,649 715,460

12,145,567 287,434 335,895 12,768,896 1,962,117

Nonoperating revenues: Investment income Total nonoperating revenue Income before transfers

263,381 263,381 1,510,038

303,406 303,406 1,018,866

566,787 566,787 2,528,904

(646,743) 863,295 11,593,815 (50,479) 11,543,336 $ 12,406,631

(768,750) 250,116 3,727,745 7,187 3,734,932 3,985,048

(1,415,493) 1,113,411 15,321,560 (43,292) 15,278,268 16,391,679

Transfers out Change in net position Net position, beginning of year, as originally stated Adjustment – change in accounting principal Net position, beginning of year, as restated Net position, end of year

123

City of Coral Springs, Florida Nonmajor Proprietary Funds Combining Statement of Cash Flows Fiscal Year Ended September 30, 2025 Stormwater Fund Cash Flows From Operating Activities Receipts from customers Payments to suppliers for goods and services Payments to employees for services Net cash provided by operating activities

Cash Flows From Capital and Related Financing Activities Acquisition and construction of capital assets Transfer to other funds Net cash used by capital and related financing activities Cash Flows From Investing Activities Interest received Proceeds from sale of investments Purchase of investments Net cash provided by investing activities Net increase in cash and cash equivalents Cash and cash equivalents, beginning of year Cash and cash equivalents, end of year

124

4,859,561 (2,296,375) (1,093,289) 1,469,897

Solid Waste Fund $

Total

9,873,290 (8,927,599) (269,442) 676,249

$ 14,732,851 (11,223,974) (1,362,731) 2,146,146

(284,443) (646,743) (931,186)

(768,750) (768,750)

(284,443) (1,415,493) (1,699,936)

268,052 4,277,743 (3,681,136) 864,659 1,403,370 1,323,830 $ 2,727,200

311,169 4,795,678 (3,865,193) 1,241,654 1,149,153 1,403,774 2,552,927

579,221 9,073,421 (7,546,329) 2,106,313 2,552,523 2,727,604 $ 5,280,127

City of Coral Springs, Florida Nonmajor Proprietary Funds Combining Statement of Cash Flows Fiscal Year Ended September 30, 2025 Stormwater Fund Reconciliation of operating income to net cash provided by operating activities: Operating income Adjustments to reconcile operating income to net cash provided by operating activities: Depreciation Changes in assets and liabilities – (increase)/decrease: Due from other governments Deferred outflows Accounts payable Compensated absences Net OPEB liability Deferred inflows Total adjustments Net cash provided by operating activities

Noncash investing and capital related financing activities: Increase (decrease) in fair value of investments that are not cash equivalents: Unrealized gain (loss) on investments Total noncash investing and capital related financing activities

1,246,657

Solid Waste Fund

715,460

Total

1,962,117

335,895

657 3,943 (73,328) 9,033 (3,632) (49,328) 223,240

1,181 (40,764) 372 (39,211)

1,838 3,943 (114,092) 9,405 (3,632) (49,328) 184,029

1,469,897

676,249

2,146,146

(14,182)

(14,136)

(28,318)

(14,182)

(14,136)

(28,318)

125

City of Coral Springs, Florida

BBU:PER0

BBR

Water and Sewer Fund Schedule of Revenue, Expenses and Other Financing Sources (Uses) (Budgetary Basis) Compared to Budget Fiscal Year Ended September 30, 2025 Budgeted Amounts Original Final Operating revenue Water sales Sewer service charge Charges for services Total operating revenue Operating expenses Wastewater treatment Water treatment Water distribution Wastewater collection Administration Insurance expense Renewal and replacement Capital replacement Total operating expenses Operating income (loss) Nonoperating revenue (expenses) Interest income Meter sales Debt service Total nonoperating revenue (expenses)

Variance with Final Budget

$ 12,499,482 16,376,382 268,295 29,144,159

$ 13,470,234 16,753,474 117,845 30,341,553

8,925,918 4,110,742 1,408,540 1,648,802 5,755,822 1,451,117 6,805,000 242,300 30,348,241 (1,204,082)

8,694,918 4,274,084 1,399,215 1,594,663 5,655,944 1,451,117 7,036,000 242,300 30,348,241 (1,204,082)

7,824,882 4,129,424 1,443,352 1,485,427 5,869,154 1,451,117 7,036,000 180,217 29,419,573 921,980

870,036 144,660 (44,137) 109,236 (213,210) 62,083 928,668 2,126,062

50,202 12,301 (1,588,737)

312,774 2,962 (1,577,879)

262,572 (9,339) 10,858

(1,526,234)

(1,262,143)

264,091

(131,050) (131,050)

2,861,366

Other financing uses Transfers out Total other financing uses Appropriated fund balance Excess (deficiency) of revenue

over (under) expenses

Actual Amounts

(471,213)

The above schedule reflects certain adjustments to actual revenue and expenses to present data on a basis comparable to the adopted budget.

126

970,752 377,092 (150,450) 1,197,394

(2,861,366) $

(471,213)

City of Coral Springs, Florida Stormwater Fund Schedule of Revenue, Expenses and Other Financing Sources (Uses) (Budgetary Basis) Compared to Budget Fiscal Year Ended September 30, 2025 Budgeted Amounts Original Final Operating revenue Other revenue

Operating expenses Operating and program costs Personnel services Benefits Capital Depreciation expense Total operating expenses Operating income Nonoperating revenue Interest income

4,794,710

1,429,851 1,419,324 644,429 1,380,000 4,873,604 (78,894)

Actual Amounts

4,794,710

1,410,101 1,419,324 644,429 1,399,750 4,873,604 (78,894)

4,858,904

64,194

(1,650,565) 13,253 3,729 5,395 (335,895) (1,964,083) (1,899,889)

152,710

152,710 152,710 (1,747,179)

(78,894)

152,710 (1,826,073)

(310,583) (310,583)

Appropriated fund balance

389,477

3,060,666 1,406,071 640,700 1,394,355 335,895 6,837,687 (1,978,783)

Total nonoperating revenue Income before transfers Other financing sources (uses): Transfers in Transfers out Total other financing sources (uses)

Net change in fund balance

Variance with Final Budget

(2,136,656)

The above schedule reflects certain adjustments to actual revenue and expenses to present data on a basis comparable to the adopted budget for the operations of the Stormwater Fund.

127

(389,477) $

(2,136,656)

City of Coral Springs, Florida Solid Waste Fund Schedule of Revenue, Expenses and Other Financing Sources (Uses) (Budgetary Basis) Compared to Budget Fiscal Year Ended September 30, 2025 Budgeted Amounts Original Final Operating revenue Charges for services

Operating expenses Operating and program costs Current expenses Administration Total operating expenses Operating income

9,792,558

Actual Amounts

9,792,558

9,872,109

79,551

10,227 9,043,828 269,753 9,323,808 468,750

10,227 9,042,828 270,753 9,323,808 468,750

10,227 8,875,132 271,290 9,156,649 715,460

167,696 (537) 167,159 246,710

303,406

(768,750) (768,750)

Nonoperating revenue Interest income Total nonoperating revenue Other financing uses: Transfers out Total other financing uses

(768,750) (768,750)

Appropriated fund balance

300,000

250,116 3,734,932 3,985,048

Net change in fund balance Fund balance, beginning of year Fund balance, end of year

Variance with Final Budget

128

(300,000) $

250,116

City of Coral Springs, Florida Internal Service Funds Combining Statement of Net Position September 30, 2025 SelfInsurance Fund Assets Current assets: Pooled cash and cash equivalents Pooled investments Interest receivable Accounts receivable, net Total current assets Noncurrent assets: Capital assets, net Total assets

14,618,472 12,300,278 153,781 27,072,531

7,986,977 6,997,005 87,478 55,226 15,126,686

22,605,449 19,297,283 241,259 55,226 42,199,217

15,289,899 30,416,585

15,383,690 57,582,907

136,170 136,170

667,020 692 9,906 5,618,842 100,791 6,397,251

217,026 14,713 231,739

884,046 692 24,619 5,618,842 100,791 6,628,990

100,163 100,163 6,497,414

148,768 295,455 444,223 675,962

248,931 295,455 544,386 7,173,376

289,507 289,507

15,289,899 14,297,387 29,587,286

15,282,899 34,973,295 50,256,194

Liabilities Current liabilities Accounts payable and accrued liabilities Accrued interest Compensated absences Accrued liability for estimated claims Lease payable Total current liabilities Noncurrent liabilities Compensated absences Net OPEB liability Total noncurrent liabilities Total liabilities Deferred inflows of resources Deferred inflows for OPEB Total deferred inflow of resources

Total

93,791 27,166,322

Deferred outflows of resources Deferred outflows for OPEB Total deferred outflow of resources

Net Position Net investment in capital assets Unrestricted Total net position

Equipment Services Fund

(7,000) 20,675,908 20,668,908

129

City of Coral Springs, Florida Internal Service Funds Combining Statement of Revenue, Expenses and Changes in Net Position Fiscal Year Ended September 30, 2025 SelfInsurance Fund Operating revenues: Charges for services Other revenue Total operating revenue

Operating expenses: Operating and program costs Administration Depreciation and amortization Insurance claims, net of recoveries Insurance premiums Total operating expenses Operating income

26,142,635 20,943 26,163,578

Equipment Services Fund $

9,897,238 45,892 9,943,130

Total $

36,039,873 66,835 36,106,708

3,819,448 112,551 14,222,033 6,532,849 24,686,881 1,476,697

2,166,795 2,224,769 4,157,434 8,548,998 1,394,132

2,166,795 6,044,217 4,269,985 14,222,033 6,532,849 33,235,879 2,870,829

Nonoperating revenues (expenses): Investment income Interest expense Gain on disposal of capital assets Total nonoperating revenue (expenses) Income before contributions and transfers

969,021 (1,379) 967,642

777,944 739,656 1,517,600

1,746,965 (1,379) 739,656 2,485,242

2,444,339

2,911,732

5,356,071

Transfers in Transfers out Change in net position Net position, beginning of year, as originally stated Adjustment - change in accounting principal Net position, beginning of year, as restated Net position, end of year

105,000 2,549,339 18,153,050 (33,481) 18,119,569 20,668,908

(79,024) 2,832,708 26,798,753 (44,175) 26,754,578 29,587,286

105,000 (79,024) 5,382,047 44,951,803 (77,656) 44,874,147 50,256,194

130

City of Coral Springs, Florida

Internal Service Funds Combining Statement of Cash Flows Fiscal Year Ended September 30, 2025

SelfEquipment Insurance Fund Services Fund Cash Flows From Operating Activities Receipts from other funds Receipts from employees and other sources Payments to suppliers for goods and services Payments for claims and premiums Payments to employees for services Net cash provided by operating activities

Cash Flows From Noncapital Financing Activities Transfer to other funds Net cash provided by noncapital financing activities Cash Flows From Capital and Related Financing Activities Acquisition and construction of capital assets Proceeds from sale of capital assets Principal payments on financing leases Interest payments on financing leases Transfer to other funds Net cash used in capital and related financing activities

26,142,635 4,369,068 (9,359,943) (18,555,374) (645,684)

Total

9,897,238 56,183 (3,337,785) (1,449,486)

$ 36,039,873 4,425,251 (12,697,728) (18,555,374) (2,095,170)

1,950,702

5,166,150

7,116,852

105,000

(117,132) (1,314) -

(541,164) (4,488,340) (79,024)

(541,164) (4,488,340) (117,132) (1,314) (79,024)

(118,446)

(5,108,528)

(5,226,974)

Cash Flows From Investing Activities Interest received Proceeds from sale of investments Purchase of investments Net cash provided by investing activities

989,834 23,973,341 (20,140,952) 4,822,223

812,652 15,002,987 (12,224,515) 3,591,124

1,802,486 38,976,328 (32,365,467) 8,413,347

Net increase in cash and cash equivalents Cash and cash equivalents, beginning of year Cash and cash equivalents, end of year

6,759,479 7,858,993 14,618,472

3,648,746 4,338,231 7,986,977

10,408,225 12,197,224 $ 22,605,449

131

City of Coral Springs, Florida

Internal Service Funds Combining Statement of Cash Flows Fiscal Year Ended September 30, 2025

SelfInsurance Fund

Equipment Services Fund

Total

Reconciliation of operating income to net cash provided by operating activities: Operating income Adjustments to reconcile operating income to net cash provided by operating activities: Depreciation and amortization Changes in assets and liabilities – (increase)/decrease: Accounts receivable Deferred outflows Accounts payable and accrued liabilities Accrued liability for estimated claims Compensated absences Net OPEB liability Deferred inflows Total adjustments Net cash provided by operating activities

1,950,702

5,166,150

7,116,852

Noncash investing and capital financing activities: Increase (decrease) in fair value of investments that are not cash equivalents: Unrealized loss on investments

(64,674)

(55,470)

(120,144)

132

1,476,697

1,394,132

2,870,829

112,551

4,157,434

4,269,985

322,934 14,784 23,736 474,005

10,291 3,943 (363,969) 17,279 (3,632) (49,328) 3,772,018

10,291 3,943 (41,035) 14,784 41,015 (3,632) (49,328) 4,246,023

City of Coral Springs, Florida

Self-Insurance Fund Schedule of Revenue and Expenses (Budgetary Basis) Compared to Budget Fiscal Year Ended September 30, 2025

Budgeted Amounts Original Final Operating revenue Charges for services General Fund Museum Fund Water and Sewer Fund Solid Waste Fund Stormwater Fund Equipment Services Fund Self-Insurance Fund Health Fund Fire Fund Recoveries Other revenue Total operating revenue

Insurance claims and premiums: Life, health and dental Property and casualty Workers’ compensation Total operating expenses Excess (deficiency) of revenue over (under) expenses

19,439,424 122,267 2,387,018 61,134 436,828 355,687 49,284 8,180 3,282,809 5,078,233 1,521,000 32,741,864

Actual Amounts $

19,439,428 122,267 2,387,017 61,134 436,828 355,687 49,284 8,180 3,282,810 5,017,231 1,351,398 32,511,264

Variance with Final Budget $

4 (1) 1 (61,002) (169,602) (230,600)

25,109,115 5,108,907 2,733,842 32,951,864

25,109,115 5,258,657 2,588,842 32,956,614

24,346,511 5,056,798 1,632,637 31,035,946

762,604 201,859 956,205 1,920,668

(210,000)

(214,750)

1,475,318

1,690,068

Nonoperating revenue Investment income Total nonoperating revenue (expenses)

65,000

969,021

904,021

65,000

969,021

904,021

Other financing sources Transfers in Total other financing sources

145,000 145,000

105,000 105,000

(40,000) (40,000)

Appropriated fund balance Net change in fund balance

(4,750)

2,549,339

The above schedule reflects certain adjustments to actual revenue and expense to present data on a basis comparable to the adopted budget.

133

2,554,089

City of Coral Springs, Florida

Equipment Services Fund Schedule of Revenue and Expenses (Budgetary Basis) Compared to Budget Fiscal Year Ended September 30, 2025

Budgeted Amounts Original Final Operating revenue Charges for services Other revenue Total operating revenue

Operating expenses Personal services Current expenses Depreciation expense Equipment purchases Total operating expenses

10,047,614 340,500 10,388,114

Actual Amounts

Variance with Final Budget

9,897,238 837,347 10,734,585

(150,376) 496,847 346,471

1,897,441 2,475,180 5,823,318 54,338 10,250,277

1,897,441 2,461,193 5,823,318 17,138 10,199,090

1,819,346 2,253,145 4,157,434 16,941 8,246,866

78,095 208,048 1,665,884 197 1,952,224

137,837

189,024

2,487,719

2,298,695

Nonoperating revenue Investment income Total nonoperating revenue

50,000 50,000

777,944 777,944

727,944 727,944

Other financing uses: Transfers out Total other financing uses

(187,837) (187,837)

(239,024) (239,024)

(79,024) (79,024)

160,000 160,000

Excess of revenue over expenses

Appropriated fund balance Net change in fund balance

6,234,212 6,234,212

3,186,639

The above schedule reflects certain adjustments to actual revenue and expenses to present data on a basis comparable to the adopted budget.

134

(6,234,212) (3,047,573)

Fiduciary Funds Fiduciary Funds are used to account for assets held by the City in a trustee capacity or as an agent on behalf of others. 

General Employees’, Police Officers’ and Firefighters’ Pension Trust Funds – to account for the accumulation of resources to be used for retirement benefit payments to the City’s employees. Resources are contributed by the employees at rates fixed by law and by the City at amounts determined by annual actuarial valuations.



City Commission Pension Trust Fund – to account for the accumulation of resources to be used for retirement benefit payments to City commissioners. Resources are contributed by the City at fixed rates.



General Employer and Management 401(a) Defined Contribution Plans – to account for the assets of seven employee 401(a) plans for which the City acts as an agent on behalf of plan participants.



OPEB Trust Fund – to account for the accumulation of resources to be used for funding other postemployment benefit payments on behalf of City employees. Resources are contributed by the City at amounts determined by bi-annual actuarial valuations.

City of Coral Springs, Florida Fiduciary Funds Combining Statement of Net Position September 30, 2025

General Employees’ Pension Assets Cash and cash equivalents Debt securities Equity securities Other investments Pending trades Interest receivable Accounts receivable – state contribution Employee loan receivable and other assets Total assets

Liabilities Accounts payable and accrued liabilities Pending trades Total liabilities Net Position Net position restricted for future pension benefits Net position restricted for future OPEB benefits Net position restricted for current pension benefits and other purposes Total net position

421,264 3,463,496 5,526,153 8,856 9,419,769

Police Officers’ Pension $

City Commission Pension

Firefighters’ Pension

7,660,188 42,398,927 236,803,894 88,400,860 271,477 362,399 375,897,745

3,709,069 21,959,551 139,988,232 51,162,703 165,126 96,587 451,054 217,532,322

84,428 73,963 925 400 159,716

General Employees’ & Management 401 (a) Plan $

1,236,177 24,518,634 103,551,667 1,940,782 131,247,260

OPEB Trust $

Total

9,294,010 9,294,010

13,111,126 92,414,571 485,869,946 148,857,573 436,603 468,767 451,054 1,941,182 743,550,822

10,745 10,745

398,882 211,161 610,043

188,393 146,885 335,278

598,020 358,046 956,066

8,206,947 -

9,294,010

8,206,947 9,294,010

9,409,024 9,409,024

375,287,702 375,287,702

208,990,097 217,197,044

135

159,716 159,716

131,247,260 131,247,260

9,294,010

725,093,799 742,594,756

City of Coral Springs, Florida Fiduciary Funds Combining Statement of Changes in Net Position Fiscal Year Ended September 30, 2025

General Employees’ Pension Additions: Employee contribution Employer contribution State contribution Rollovers, net Total contributions

Investment income Net appreciation (depreciation) in fair value of investments Other income

100,000 100,000

Police Officers’ Pension $

2,465,270 13,220,862 1,874,408 30 17,560,570

City Commission Pension

Firefighters’ Pension $

1,635,437 5,452,768 2,534,154 1 9,622,360

5,646 5,646

General Employees’ 401 (a) Plan $

3,207,925 3,620,744 (55,855) 6,772,814

OPEB Trust $

Total

222,373 222,373

7,308,632 22,622,393 4,408,562 (55,824) 34,283,763

724,946

8,585,162

4,652,479

6,778

4,329,257

18,298,622

Investment expense Net investment income Total additions

(209,300) 3,057 518,703 (31,983) 486,720 586,720

24,292,895 2,325,369 35,203,426 (1,199,114) 34,004,312 51,564,882

16,383,974 383,535 21,419,988 (485,202) 20,934,786 30,557,146

(314) 6,464 6,464 12,110

9,939,696 14,268,953 14,268,953 21,041,767

693,545 693,545 693,545 915,918

51,100,496 2,711,961 72,111,079 (1,716,299) 70,394,780 104,678,543

Deductions: Benefit payments DROP payments and other Share plan Refunds to participants Administrative expenses Total deductions

747,104 28,654 775,758

16,621,020 7,925,417 89,959 377,236 25,013,632

2,693,576 4,980,234 266,708 37,654 298,113 8,276,285

4,800 4,800

10,106,109 133,812 10,239,921

9,093 9,093

30,172,609 12,905,651 266,708 127,613 846,908 44,319,489

Change in net position

(189,038)

26,551,250

22,280,861

7,310

10,801,846

906,825

60,359,054

Net position restricted, beginning Net position restricted, ending

9,598,062 9,409,024

348,736,452 375,287,702

194,916,183 217,197,044

136

152,406 159,716

120,445,414 131,247,260

8,387,185 9,294,010

682,235,702 742,594,756

CITY OF CORAL SPRINGS, FLORIDA Index Statistical Section (Unaudited) This part of the City of Coral Springs’ annual comprehensive financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the City’s overall financial health. Page Financial Trends (Unaudited) These schedules contain trend information to help the reader understand how the City’s financial performance and well-being have changed over time. Net Position by Component Changes in Net Position Fund Balances, Governmental Funds Changes in Fund Balances, Governmental Funds Tax Revenues by Source, Governmental Funds

137 – 138 139 – 142 143 – 144 145 – 146 147

Revenue Capacity (Unaudited) These schedules contain information to help the reader assess the factors affecting the City’s ability to generate its property taxes. Total Taxable Assessed Value as a Percentage of Estimated Total Fair Market Value Direct and Overlapping Property Tax Rates Principal Property Taxpayers Property Tax Levies and Collections Water Sold by Type of Customer Water and Sewer Rates

148 – 149 150 – 151 152 153 154 – 155 156

Page Debt Capacity (Unaudited) These schedules present information to help the reader assess the affordability of the City’s current levels of outstanding debt and the City’s ability to issue additional debt in the future. Ratios of Outstanding Debt by Type Ratios of General Bonded Debt Outstanding Direct and Overlapping Governmental Activities Debt Legal Debt Margin Information Pledged-Revenue Coverage

157 – 158 159 160 161 162

Demographic and Economic Information (Unaudited) These schedules offer demographic and economic indicators to help the reader understand the environment within which the City’s financial activities take place and to help make comparisons over time and with other governments. Demographic and Economic Statistics Principal Employers

163 164

Operating Information (Unaudited) These schedules contain information about the City’s operations and resources to help the reader understand how the City’s financial information relates to the services the City provides and the activities it performs. Full-Time Equivalent City Government Employees by Function Operating Indicators by Function Capital Asset Statistics by Function Sources: Unless otherwise noted, the information in these schedules is derived from the annual comprehensive financial reports for the relevant year.

165 166 – 167 168 – 169

City of Coral Springs, Florida Net Position by Component (Unaudited) Last Ten Fiscal Years (Accrual Basis of Accounting) Governmental activities Net investment in capital assets Restricted Unrestricted Total governmental activities net position Business-type activities Net investment in capital assets Restricted Unrestricted Total business-type activities net position Primary government Net investment in capital assets Restricted Unrestricted Total primary government net position

2025

2024

2023

2022

$ 169,197,002 41,494,013 73,420,937

$ 143,994,283 26,265,379 82,180,672

$ 135,880,415 20,821,621 76,760,452

$ 125,086,762 46,606,029 18,285,096

$ 284,111,952

$ 252,440,334

$ 233,462,488

$ 189,977,887

49,884,103 3,270,370 34,493,576

51,000,592 3,137,294 28,546,394

50,499,652 2,857,063 24,798,993

47,910,363 1,764,486 23,466,405

87,648,049

82,684,280

78,155,708

73,141,254

$ 219,081,105 44,764,383 107,914,513

$ 194,994,875 29,402,673 110,727,066

$ 186,380,067 23,678,684 101,559,445

$ 172,997,125 48,370,515 41,751,501

$ 371,760,001

$ 335,124,614

$ 311,618,196

$ 263,119,141

The City implemented GASB Statement 75 as of October 1, 2017. Information was not available to implement GASB Statement 75 for the prior periods presented in the Statistical Section. Source: City of Coral Springs, Department of Financial Services

137

Table 1

2021

2020

2019

2018

2017

2016

$ 118,815,994 29,137,520 8,298,363

$ 121,057,994 18,822,254 19,067,952

$ 114,639,819 31,250,213 4,405,081

$ 116,042,150 25,976,444 (13,442,569)

$ 113,575,511 12,661,504 16,655,005

$ 112,287,063 12,339,454 11,090,938

$ 156,251,877

$ 158,948,200

$ 150,295,113

$ 128,576,025

$ 142,892,020

$ 135,717,455

44,454,858 1,661,782 21,329,294

42,122,520 803,823 19,373,597

42,181,365 795,369 14,439,836

41,228,921 882,773 12,942,748

37,688,505 1,251,930 12,943,405

31,111,084 2,814,703 13,881,632

67,445,934

62,299,940

57,416,570

55,054,442

51,883,840

47,807,419

$ 163,270,852 30,799,302 29,627,657

$ 163,180,514 19,626,077 38,441,549

$ 156,821,184 32,045,582 18,844,917

$ 157,271,071 26,859,217 (499,821)

$ 151,264,016 13,913,434 29,598,410

$ 143,398,147 15,154,157 24,972,570

$ 223,697,811

$ 221,248,140

$ 207,711,683

$ 183,630,467

$ 194,775,860

$ 183,524,874

138

City of Coral Springs, Florida Changes in Net Position (Unaudited) Last Ten Fiscal Years (Accrual Basis of Accounting) 2025 Expenses Governmental activities: General government Police Fire Parks and recreation Public works Development services Educational and cultural programs Conference center Interest on long-term debt Total governmental activities expenses Business-type activities: Water Sewer Stormwater Solid waste Total business-type activities expenses Total primary government expenses Program Revenues Governmental activities: Charges for services: General government Police Fire Parks and recreation Public works Development services Educational and cultural programs Operating grants and contributions Capital grants and contributions Total governmental activities program revenues

2024

33,805,984 62,161,958 54,234,651 22,930,516 12,653,783 9,915,830 25,841,618 2,013,307 223,557,647

10,924,198 16,386,298 3,612,247 9,156,649 40,079,392 $ 263,637,039

28,785,166 71,271,155 66,787,036 25,182,962 11,306,994 8,047,823 25,352,878 2,038,053 238,772,067

2023

22,954,331 63,055,727 46,202,846 20,270,625 9,697,531 7,492,825 19,246,581 2,276,211 191,196,677

2022

25,381,443 55,528,320 34,582,410 17,480,880 12,156,181 6,839,355 19,159,680 209,301 2,547,361 173,884,931

10,728,795 16,093,193 3,663,364 7,183,269 37,668,621 $ 276,440,688

10,507,790 15,761,685 5,449,770 6,404,990 38,124,235 $ 229,320,912

9,629,510 14,444,266 2,355,419 5,801,945 32,231,140 $ 206,116,071

5,478,225 8,529,646 37,213,105 3,701,445 38,763 6,487,140 2,836,536 28,879,499 1,986,153

5,395,316 8,622,866 37,546,216 3,279,013 50,548 9,042,687 3,664,032 28,585,576 976,967

4,914,990 7,764,194 36,391,073 3,462,161 82,993 8,015,953 495,532 25,700,974 253,149

6,057,318 5,632,073 31,280,874 3,625,933 67,670 7,080,713 577,365 19,912,139 755,536

95,150,512

97,163,221

87,081,019

74,989,621

(Continued)

139

Table 2

2021

29,241,912 68,924,021 40,024,013 16,984,953 9,849,378 8,621,885 17,531,507 190,118 2,670,615 194,038,402

2020

23,698,920 61,920,719 38,354,809 15,832,962 10,268,653 8,042,034 15,819,014 190,120 2,464,057 176,591,288

2019

21,902,934 48,592,938 31,857,235 16,223,388 11,405,110 7,193,424 17,274,563 192,695 2,583,113 157,225,400

2018

26,229,930 47,357,019 31,368,955 17,305,750 10,604,517 7,588,361 14,363,170 190,118 2,329,765 157,337,585

2017

20,792,170 45,368,722 30,162,429 18,143,273 7,901,065 7,277,340 14,825,628 190,118 2,547,323 147,208,068

2016

18,197,201 45,425,067 27,648,206 17,399,137 8,162,585 7,050,663 13,701,284 191,305 2,188,666 139,964,114

9,555,856 13,530,794 1,610,275 5,538,370 30,235,295 $ 224,273,697

9,268,513 13,201,681 1,569,190 5,358,786 29,398,170 $ 205,989,458

9,264,709 13,122,983 4,808,196 27,195,888 $ 184,421,288

8,664,633 12,405,728 4,462,767 25,533,128 $ 182,870,713

8,053,596 11,340,056 4,343,534 23,737,186 $ 170,945,254

8,222,629 12,023,215 4,327,706 24,573,550 $ 164,537,664

4,529,383 3,850,220 30,064,736 2,981,372 172,950 8,105,325 2,057,908 16,116,756 393,883

4,044,759 4,603,043 28,414,272 2,182,052 123,101 6,608,745 1,567,003 16,220,013 927,042

4,409,001 3,691,865 26,701,052 3,880,278 103,461 7,358,059 1,692,466 15,817,294 536,825

4,126,051 3,360,828 24,251,435 3,982,886 87,781 7,854,123 1,654,574 15,225,061 2,048,316

3,805,245 2,667,138 23,292,818 4,156,636 75,258 9,921,344 1,596,422 14,194,130 1,223,532

3,666,801 2,310,072 22,135,459 4,036,953 49,777 9,790,449 1,697,520 14,004,758 535,726

68,272,533

64,690,030

64,190,301

62,591,055

60,932,523

58,227,515

140

City of Coral Springs, Florida Changes in Net Position (Unaudited) (Continued) Last Ten Fiscal Years (Accrual Basis of Accounting) 2025 Business-type activities: Charges for services: Water Sewer Stormwater Solid waste Capital grants and contributions Total business-type activities program revenues Total primary government program revenues Net (Expense)/Revenue Governmental activities Business-type activities Total primary government net expense General Revenues and Other Changes in Net Position Governmental activities: Taxes: Ad valorem, levied for general purpose Ad valorem, levied for debt service Franchise taxes Utility taxes Communication taxes Gas taxes Intergovernmental not restricted to specific programs Investment income Miscellaneous Transfers Special item Total governmental activities Business-type activities: Intergovernmental Investment income Miscellaneous Transfers Total business-type activities Total primary government Change in Net Position Governmental activities Business-type activities Total primary government

2023

13,473,196 16,871,319 4,858,904 9,872,109 -

11,756,834 16,170,211 4,498,457 7,981,339 99,156

2023

10,609,301 15,778,215 4,340,358 6,950,359 4,523,282

2022

10,168,693 15,242,204 3,930,209 6,653,258 2,236,565

45,075,528

40,505,997

42,201,515

38,230,929

$ 140,226,040

$ 137,669,218

$ 129,282,534

$ 125,311,948

(128,407,135) 4,996,136

(141,608,846) 2,837,376

(104,115,658) 4,077,280

(104,115,658) 106,694

$ (123,410,999)

$ (138,771,470)

$ (100,038,378)

$ (104,008,964)

87,534,565 2,584,913 14,611,909 15,224,592 3,343,794 2,222,503

80,576,220 2,583,560 14,534,938 14,812,120 3,453,820 2,237,613

73,962,797 2,596,234 15,783,121 14,167,898 3,434,925 2,341,840

67,740,663 2,590,243 14,123,769 12,411,961 3,237,445 2,239,284

24,526,604 9,113,777 5,098,421 1,546,543 165,807,621

26,960,952 10,281,151 4,876,131 270,187 160,586,692

24,479,605 5,785,807 4,650,970 397,062 147,600,259

22,005,573 251,483 7,740,832 280,067 132,621,320

1,660,780 (1,546,543) 114,237 165,921,858

1,956,308 5,075 (270,187) 1,691,196 162,277,888

321,328 1,012,908 (397,062) 937,174 148,537,433

(24,402) (280,067) (304,469) 132,316,851

37,400,486 5,110,373 42,510,859

18,977,846 4,528,572 23,506,418

43,484,601 5,014,454 48,499,055

28,505,662 (197,775) 28,307,887

Source: City of Coral Springs, Department of Financial Services

141

2021

10,421,322 15,162,589 3,961,806 5,751,606 865,817

2020

9,839,933 14,519,713 3,827,290 5,740,333 322,816

2019

9,916,458 14,141,567 4,936,075 179,248

2018

$ 111,152,761

$ 102,522,618

(125,765,869) 5,927,845

(125,765,869) 4,014,790

$ (119,838,024)

$ (121,751,079)

(91,057,639)

(90,320,902)

(92,531,609)

(79,157,524)

57,817,358 2,611,108 12,726,761 11,706,237 3,185,862 2,333,849

54,358,346 2,548,718 12,546,995 11,655,950 3,529,670 2,307,521

41,736,095 2,563,871 12,394,344 11,351,304 3,839,170 2,301,939

39,282,218 2,400,836 12,218,962 11,163,482 4,017,589 2,236,759

63,407,753 2,604,346 12,618,489 12,019,722 3,269,000 2,081,644

60,342,434 2,603,824 12,399,999 11,837,977 3,105,363 2,060,982

93,863,378

(93,035,099) 1,977,460

94,100,386

27,748,049

8,849,258 12,909,333 4,166,000 1,228,034

34,250,085 $

29,910,085

9,261,079 13,280,776 4,412,789 793,405

2016

36,163,140

29,173,348

9,549,786 13,883,535 4,619,530 1,857,234

2017

(93,035,099) 2,714,197

90,339,104

27,152,625 $

(94,746,530) 2,214,921

88,085,148

(81,736,599) 2,579,075

23,984,688 74,913 2,212,451 796,540 123,069,546

23,253,086 1,773,422 2,622,721 400,482 154,052 120,554,342

20,572,341 2,312,506 1,336,271 151,894 114,754,187

17,304,907 953,206 2,360,172 63,720 107,629,205

16,067,807 642,818 2,482,539 70,223 93,450,110

15,640,460 636,751 1,876,101 77,495 89,550,653

14,689 (796,540) (781,851) 122,287,695

431,937 (126,008) (400,482) (94,553) 120,459,789

66,449 471,288 (1,175) (151,894) 384,668 115,138,855

190,928 14,367 (63,720) 141,575 107,770,780

135,781 (70,223) 65,558 93,515,668

146,199 (77,495) 68,704 89,619,357

(2,696,323) 5,145,994 2,449,671

(5,211,527) 3,920,237 (1,291,290)

21,719,088 2,362,128 24,081,216

14,594,106 2,855,772 17,449,878

(1,296,420) 2,280,479 984,059

7,814,054 2,647,779 10,461,833

142

City of Coral Springs, Florida Fund Balances, Governmental Funds (Unaudited) Last Ten Fiscal Years (Modified Accrual Basis of Accounting) 2025 General Fund Nonspendable Inventory and prepaids Prepaid items Restricted for Landfill Parks Committed to Stabilization fund Assigned to Computer replacement program Facilities replacement Parks replacement Subsequent years’ expenditures Capital projects Unassigned Total general fund All Other Governmental Funds Nonspendable Asset held for resale Prepaid items Restricted for Fire safety Capital projects Charter school Law enforcement Public art Physical environment Affordable housing Road improvements Debt service Assigned to Debt service Capital projects Unassigned Total all other governmental funds

807,513 15,000

2023

852,054 15,000

2022

1,074,337 692

1,657,609 5,965

35,717,422

33,893,182

31,990,104

29,812,023

3,171,648 6,105,863 10,087,962 4,744,970 3,500,000 2,275,392 66,425,770

3,443,733 4,049,366 7,454,828 4,557,243 2,275,392 56,540,798

3,170,999 2,182,036 5,010,861 1,500,000 10,546,530 2,235,131 $ 57,710,690

2,922,004 964,408 3,234,311 6,511,921 4,562,725 2,235,133 $ 51,906,099

2024

6,877,337 3,290,357 10,038,851 5,421,869 2,129,468 991,489 1,468,598 -

5,911,629 3,226,748 7,881,239 5,783,275 2,022,185 854,532 585,771 -

4,877,386 2,819,712 2,465,700 3,425,309 1,715,663 820,987 535,233 -

3,861,035 3,301,861 1,621,151 2,645,904 1,472,622 908,838 568,742 -

1,240,418 39,000,974 (810,344)

1,323,500 43,668,294 -

1,183,474 25,011,744 (18,763)

1,041,947 13,034,965 (2,263,982)

71,257,173

$ 42,836,445

$ 26,193,083

69,649,017

Source: City of Coral Springs, Department of Financial Services

143

Table 3

2021 $

2020

778,814 188,852

2019

796,971 -

2018

981,821 -

2017

912,912 -

935,702 -

2016 $

949,546 -

25,132 -

24,687 81,945

24,371 81,945

28,367,898

25,787,040

23,430,136

21,857,275

21,221,083

19,019,790

2,416,230 588,353 4,311,696 4,612,813 4,507,448 1,942,061 $ 47,714,165

2,614,589 647,836 1,788,716 2,500,000 2,556,260 $ 36,691,412

2,357,401 326,121 725,454 1,180,672 $ 29,001,605

1,943,906 673,848 364,621 1,691,982 2,235,133 $ 29,704,809

1,830,834 948,778 212,746 1,959,254 $ 27,215,029

2,291,671 919,265 4,655,576 $ 27,942,164

30,000

375,000 -

20,000

3,155,192 19,431,354 2,856,260 2,781,753 1,236,843 760,984 572,610 -

2,495,356 6,795,005 3,015,032 2,922,858 742,787 885,905 307,865 -

1,820,979 8,166,816 5,122,942 3,265,042 764,374 877,779 302,204 40,843 -

633,404 6,423,687 6,031,673 2,719,758 546,238 827,439 294,359 99,342 -

545,469 9,718,856 5,603,441 2,331,061 453,978 850,237 291,117 99,342 2,380,227

710,933 40,864,636 5,627,420 2,178,788 614,297 350,480 288,773 99,342 2,363,105

715,638 10,056,732 (1,797,629)

708,478 9,778,907 (807,394)

1,066,144 7,236,827 (158,082)

3,252,034 (5,832)

3,334,897 (2,129,009)

5,019,743 (1,850,473)

$ 39,799,737

$ 26,844,799

$ 28,880,868

$ 20,822,102

$ 23,499,616

$ 56,267,044

144

City of Coral Springs, Florida Changes in Fund Balances, Governmental Funds (Unaudited) Last Ten Fiscal Years (Modified Accrual Basis of Accounting) Revenues Ad valorem taxes Franchise fees Utility taxes Intergovernmental Non ad valorem special assessment Licenses and permits Charges for services Fines and forfeitures Interest and other Total revenues Expenditures General government Police Fire Parks and recreation Public works Development services Educational and cultural programs Capital outlay Debt service Principal Interest Total expenditures Excess (deficiency) of revenues over (under) expenditures

2025

2024

2023

2022

$ 90,119,478 14,611,909 15,224,592 61,105,005 17,831,169 4,644,408 41,288,680 2,911,911 12,469,143 260,206,295

$ 83,159,780 14,534,938 14,812,120 59,988,319 16,328,773 7,032,074 41,888,444 4,303,531 12,962,612 255,010,591

$ 76,559,031 15,783,121 14,167,898 55,712,691 15,799,217 6,351,762 35,252,310 3,443,712 9,469,580 232,539,322

$ 70,330,906 14,123,769 12,411,961 47,149,389 14,902,218 5,838,295 32,004,086 2,737,858 4,422,833 203,921,315

32,163,421 68,987,805 48,455,376 18,185,270 8,439,274 10,540,085 25,330,975 32,696,404

27,423,823 67,525,477 45,085,622 16,793,347 7,916,648 8,572,361 24,526,419 18,357,202

26,069,575 63,438,069 43,415,744 15,719,495 7,011,149 7,679,167 18,412,191 15,907,847

24,031,159 61,255,346 40,826,072 16,639,308 6,741,284 6,854,486 17,892,104 27,485,708

11,230,289 2,516,949 258,545,848

10,820,627 2,690,858 229,712,384

10,058,357 2,919,721 210,631,315

9,390,066 3,181,382 214,296,915

1,660,447

25,298,207

21,908,007

(10,375,600)

25,534,307 (24,013,740) 5,095,802 -

39,469,505 (39,694,690) 2,177,814 -

33,070,184 (32,531,222) 984 -

23,054,816 (26,656,661) 4,562,725 -

6,616,369

1,952,629

539,946

960,880

8,276,816

$ 27,250,836

$ 22,447,953

$ (9,414,720)

Other Financing Sources (Uses) Transfers in Transfers out Issuance of debt Refunding bonds issues Capital lease Premium received (discount paid) Payment to refunded bond escrow agent Sale of assets Special item Total other financing sources (uses) Net change in fund balances

Debt service as a percentage of noncapital expenditures

6.0%

Source: City of Coral Springs, Department of Financial Services

145

6.2%

6.6%

Table 4

2021

2020

2019

2018

2017

2016

$ 66,012,099 12,618,489 12,019,722 44,626,408 13,818,908 6,115,860 28,650,148 1,793,056 3,901,571 189,556,261

$ 62,946,258 12,399,999 11,837,977 45,500,164 13,702,371 4,876,224 26,123,067 1,818,035 5,620,639 184,824,734

$ 60,428,466 12,726,761 11,706,237 40,123,940 12,580,780 4,697,307 26,187,075 3,477,113 5,731,724 177,659,403

$ 56,907,064 12,546,995 11,655,950 39,409,450 11,228,209 4,490,664 24,776,550 4,242,964 4,818,815 170,076,661

$ 44,299,966 12,394,344 11,351,304 36,578,230 10,446,316 5,008,628 23,365,720 5,527,679 4,562,984 153,535,171

$ 41,683,054 12,218,962 11,163,482 35,764,672 9,635,043 4,053,595 22,794,859 5,883,075 4,498,455 147,695,197

23,693,360 55,395,263 38,647,163 13,021,952 5,965,696 8,106,508 16,206,212 18,740,478

21,398,269 57,384,080 37,404,762 13,340,610 6,535,740 7,458,717 16,150,615 16,360,351

19,616,781 56,072,415 34,932,860 14,489,290 8,313,276 6,707,346 15,386,208 8,745,135

24,550,724 52,220,546 33,179,549 14,356,968 7,559,997 6,734,311 13,709,737 20,633,263

19,291,612 49,644,809 30,921,219 15,022,183 5,022,054 7,046,810 13,803,418 36,576,834

16,239,539 47,791,993 29,273,425 14,333,636 4,910,544 6,871,847 13,225,940 17,513,043

8,394,893 3,473,742 191,645,267

9,030,317 2,688,635 187,752,096

7,604,967 2,793,270 174,661,548

7,449,362 2,597,301 182,991,758

7,296,127 2,653,408 187,278,474

6,561,209 1,913,429 158,634,605

(2,089,006)

(2,927,362)

2,997,855

(12,915,097)

(33,743,303)

(10,939,408)

17,455,431 (16,884,116) 22,135,000 3,360,382 -

20,424,291 (18,973,939) 4,800,000 2,176,696 154,052

16,060,270 (15,571,430) 6,104,000 -

12,293,501 (11,801,271) 10,000,000 -

10,068,996 (9,820,256) -

12,290,210 (12,015,010) 34,319,000 7,780,000 5,115,279 (7,737,629) -

26,066,697

8,581,100

6,592,840

10,492,230

248,740

39,751,850

9,590,695

$ (2,422,867)

$ (33,494,563)

$ 28,812,442

6.1%

6.5%

$ 23,977,691 6.7%

5,653,738 6.9%

6.2%

146

6.0%

City of Coral Springs, Florida

Table 5

Tax Revenues by Source, Governmental Funds (Unaudited) Last Ten Fiscal Years (Modified Accrual Basis of Accounting) Property Taxes

Fiscal Year

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

41,683,054 44,299,966 56,907,064 60,428,466 62,946,258 66,012,099 70,330,906 76,559,031 83,159,780 90,119,478

Change 2016 - 2025

116.2%

Source: City of Coral Springs, Department of Financial Services

147

Franchise Fees

12,218,962 12,394,344 12,546,995 12,726,761 12,399,999 12,618,489 14,123,769 15,783,121 14,534,938 14,611,909

19.6%

Utility Taxes

11,163,482 11,351,304 11,655,950 11,706,237 11,837,977 12,019,722 12,411,961 14,167,898 14,812,120 15,224,592

36.4%

City of Coral Springs, Florida

Total Taxable Assessed Value as a Percentage of Estimated Total Fair Market Value (Unaudited) Last Ten Fiscal Years

Just Value Fiscal Year

Tax Year

Real Property

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

$ 12,303,061,250 13,071,314,270 13,807,106,290 14,635,264,170 15,278,134,920 15,820,606,100 16,596,788,220 19,594,689,200 22,691,117,030 24,326,277,070

Less: Tax-Exempt Property

Personal Property $

332,402,623 355,396,855 360,143,069 357,134,278 368,636,405 362,875,428 366,368,717 366,583,817 407,629,186 443,197,178

4,151,263,806 4,401,497,852 4,557,398,241 4,797,928,766 4,987,063,088 4,999,538,391 5,282,044,000 7,225,898,947 9,225,264,767 9,699,253,593

Total Taxable Assessed Value (1) $

8,484,200,067 9,025,213,273 9,609,851,118 10,194,469,682 10,659,708,237 11,183,943,137 11,681,112,937 12,735,374,070 13,873,481,449 15,070,220,655

Note: Tax Roll Ad Valorem Assessments are determined as of January 1st for each ensuing fiscal year. Per Florida State Statutes property must be assessed at 100% of Market Value; Just Value is Market Value less reasonable fees and costs of purchase, etc. for Real Property. Personal Property figures assume on average the Assessed Value has been depreciated 45% from the cost net. (1) Figures as of November (DR-403) versus previous July 1st DR-420; The Prior Year’s Final Gross Taxable Value appears (Line 7) on the next Tax Year’s DR-420. The Difference between Total Taxable Assessed Value and Final Gross Taxable Value is Value Adjustment Board (VAB) Changes. (2) Total Direct Tax Rate is the sum of the City's Operating and Debt Millage Rates. (3) Estimated Total Fair Market Value figures based on Real Property assessed on average at 88% and Personal Property at 55%. Source: Broward County, Florida Property Appraiser – Form DR-403 (Revised Recapitulation of the

148

Table 6

Total Direct Tax Rate (2)

Estimated Total Fair Market Value (3)

Total Taxable Assessed Value as a Percentage of Estimated Total Fair Market Value

5.0915 5.0930 6.1485 6.1384 6.1266 6.1144 6.2535 6.2346 6.2163 6.2010

$ 14,585,119,826 15,499,942,316 16,344,699,091 17,280,317,062 18,031,764,964 18,637,734,983 19,526,111,554 22,933,208,304 26,526,504,236 28,449,309,721

58.17% 58.23% 58.79% 58.99% 59.12% 60.01% 59.82% 55.53% 52.30% 52.97%

149

City of Coral Springs, Florida

Direct and Overlapping Property Tax Rates (Unaudited) Last Ten Fiscal Years

Fiscal Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

City of Coral Springs Debt Operating Service Millage Millage 4.7982 4.7982 5.8732 5.8732 5.8732 5.8732 6.0232 6.0232 6.0232 6.0232

Total City Millage

0.2933 0.2948 0.2753 0.2652 0.2534 0.2412 0.2303 0.2114 0.1931 0.1778

5.0915 5.0930 6.1485 6.1384 6.1266 6.1144 6.2535 6.2346 6.2163 6.2010

Source: Broward County, Florida Property Appraiser.

150

Operating Millage 5.4741 5.4474 5.4623 5.4792 5.4878 5.4999 5.5134 5.5306 5.5492 5.6389

County Debt Service Millage 0.2489 0.2216 0.2067 0.1898 0.1812 0.1691 0.1556 0.1384 0.1198 0.0301

Total County Millage 5.7230 5.6690 5.6690 5.6690 5.6690 5.6690 5.6690 5.6690 5.6690 5.6690

Table 7

Overlapping Rates School District Debt Total Operating Service School Children’s Millage Millage Millage Services 7.2030 6.8360 6.4740 6.2750 6.6350 6.4140 6.3180 5.9510 6.4260 6.3110

0.0710 0.0703 0.0654 0.1279 0.1043 0.0912 0.1441 0.1873 0.1896 0.1545

7.2740 6.9063 6.5394 6.4029 6.7393 6.5052 6.4621 6.1383 6.6156 6.4655

0.4882 0.4882 0.4882 0.4882 0.4882 0.4882 0.4699 0.4500 0.4500 0.4500

North Broward Hospital District 1.4425 1.3462 1.2483 1.0855 1.0324 1.1469 1.2770 1.6029 1.4307 1.3261

151

South Florida Florida Total Water Inland Direct & Management Navigation Overlapping District District Rates 0.3551 0.3307 0.3100 0.2936 0.2795 0.2675 0.2572 0.2301 0.2301 0.2301

0.0320 0.0320 0.0320 0.0320 0.0320 0.0320 0.0320 0.0320 0.0288 0.0288

20.4063 19.8654 20.4354 20.1096 20.3670 20.2232 20.4207 20.3569 20.6405 20.3705

City of Coral Springs, Florida

Table 8

Principal Property Taxpayers (Unaudited) Current Year and Nine Years Ago

2025

Taxpayer

Taxable Assessed Value

Florida Power & Light $ Pool 3 Industrial FL LLC Mid-America Apartments LP Spa the Grove LLC MCREF III Coral Springs Apartments Wyndham Lakes XIV LLC AMFP III Sherwood Forest LLC Knickerbocker Properties Inc. Sample Road Investments LLC Club Mira Lago Trust Cort Coral-CS/LTD Associates Sherwood Forest at Coral Springs ERP Operating LP Alliance RT Limited Partnership City National Bank of Florida Total $

148,918,008 139,774,260 112,296,418 89,889,731 88,488,110 85,890,738 83,990,262 83,364,540 63,710,656 63,335,120 959,657,843

Rank 1 2 3 4 5 6 7 8 9 10 -

Source: Broward County, Florida Revenue Collector

152

2016 Percentage of Total City Taxable Assessed Value 0.98% 0.92% 0.74% 0.59% 0.58% 0.57% 0.55% 0.55% 0.42% 0.42% 6.32%

Taxable Assessed Value $

66,737,559 63,918,081 54,763,045 47,935,841 33,419,676 114,231,270 51,401,493 40,361,892 32,326,092 31,977,997 $ 537,072,946

Rank 2 3 4 6 8 1 5 7 9 10

Percentage of Total City Taxable Assessed Value 0.79% 0.75% 0.65% 0.57% 0.39% 1.35% 0.61% 0.48% 0.38% 0.38% 6.35%

City of Coral Springs, Florida

Table 9

Property Tax Levies and Collections (Unaudited) Last Ten Fiscal Years

Fiscal Year

Taxes Levied for the Fiscal Year

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

$ 41,174,819 43,502,299 57,345,137 60,622,404 63,543,462 66,314,852 71,173,914 77,314,186 84,368,713 91,624,078

Collected within the Fiscal Year of the Levy Percentage Amount of Levy $

39,281,224 41,748,731 54,345,793 57,763,993 60,328,923 63,355,989 67,799,438 73,956,711 80,593,926 87,513,523

95.4% 96.0% 94.8% 95.3% 94.9% 95.5% 95.3% 95.7% 95.5% 95.5%

Source: Broward County, Florida Revenue Collector

153

Collections in Subsequent Years $

32,841 72,843 180,326 23,645 99,456 (41,199) 57,070 24,305 12,296 -

Total Collections to Date Percentage Amount of Levy $ 39,314,065 41,821,574 54,526,119 57,787,638 60,428,379 63,314,790 67,856,508 73,981,016 80,606,222 87,513,523

95.5% 96.1% 95.1% 95.3% 95.1% 95.5% 95.3% 95.7% 95.5% 95.5%

City of Coral Springs, Florida

Water Sold by Type of Customer (Unaudited) Last Ten Fiscal Years (In millions of gallons)

2025

2024

2023

2022

912,399 759,822 197,581 150,773 94,962 5,083 2,120,620

860,385 776,361 202,075 125,345 89,442 697 2,054,305

859,186 771,763 201,992 110,727 93,656 1,001 2,038,325

873,444 753,089 195,296 119,032 97,403 1,334 2,039,598

Type of Customer

Residential: Single-Family Multi-Family Commercial Irrigation Public-private Construction Fire Hydrant Total Total direct rate per 1,000 gallons

2.24 $

2.05 $

Source: City of Coral Springs, Department of Financial Services City of Coral Springs, Department of Public Works, Utilities Division

154

1.87 $

1.81

Table 10

2021

2020

2019

2018

2017

2016

870,962 749,284 188,981 127,351 89,609 792 2,026,979

873,099 735,228 192,337 124,427 78,927 774 2,004,792

858,041 763,176 212,226 138,147 87,114 1,858 2,060,562

830,580 797,407 221,361 128,766 77,793 27 2,216 2,058,150

862,231 810,654 209,579 130,006 91,710 64 324 2,104,568

852,494 811,239 200,684 115,253 91,998 264 5,471 2,077,403

1.81 $

1.74 $

1.69 $

1.63 $

155

1.57 $

1.52

City of Coral Springs, Florida

Table 11

Water and Sewer Rates (Unaudited) Last Ten Fiscal Years

Fiscal Year 2016 2017 2018 2019 2020 2021 2022 ** 2023 2024 2025

Water Rate per Monthly Base Rate 1,000 Gallons * 12.16 12.59 13.03 13.48 13.95 14.44 14.44 14.95 16.37 17.93

* The rate stated is for the first 4,000 gallons of water consumed. **No rate increase for Water & Sewer for FY22. Source: City of Coral Springs, Financial Services Department

156

1.52 1.57 1.63 1.69 1.74 1.81 1.81 1.87 2.05 2.24

Sewer Monthly Rate per Base Rate 1,000 Gallons 20.08 20.78 21.51 22.26 23.04 23.85 23.85 24.68 25.30 25.93

3.82 3.95 4.09 4.24 4.38 4.54 4.54 4.70 4.82 4.94

City of Coral Springs, Florida

Ratios of Outstanding Debt by Type (Unaudited) Last Ten Fiscal Years

Governmental Activities

Fiscal Year

General Obligation Bonds

General Obligation Refunding Bonds

Special Obligation Bonds

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

$ 11,956,190 11,227,518 10,481,358 9,717,290 8,934,884 8,133,701 7,313,289 6,473,187 5,612,923 4,732,012

$ 14,928,133 13,728,851 12,497,830 11,230,716 9,927,824 8,599,728 7,242,680 5,853,048 4,437,322 2,986,934

$ 27,345,278 27,010,295 36,662,760 35,855,227 34,627,693 59,396,539 57,870,829 56,320,485 54,745,361 49,629,315

Special Obligation Notes

Revenue Bonds

Revenue Note

Revenue Refunding Bonds

4,444,000 3,990,000 3,526,000 3,053,000 2,570,000 2,077,000

$ 11,298,000 10,155,000 8,985,000 7,788,000 6,563,000 5,310,000 4,028,000 2,716,000 1,374,000 -

$ 18,056,312 17,326,905 16,580,934 15,818,011 15,037,738 13,188,707 9,617,500 5,958,691 2,211,440 1,867,832

$ 14,088,708 11,043,874 7,949,864 4,796,002 1,589,000 -

Source: City of Coral Springs, Department of Financial Services City of Coral Springs, Department of Budget and Strategy Note: The City implemented GASB 87 in fiscal year 2022, therefore capital lease was restated for fiscal year 2021.

157

Capital Lease/ Financed Purchase $

913,830 462,438 6,104,000 7,783,952 7,652,994 5,831,049 4,841,317 3,829,000 3,227,000

Table 12

Governmental Activities

Financing Leases $

664,761 466,463 636,473 711,149

Subscriptions Payable $

85,329 946,307 4,248,919

Business-Type Activities State Revolving Revenue Fund Bonds Loans $ 11,425,000 10,529,000 9,613,000 8,683,000 7,732,000 6,761,000 5,765,000 4,748,000 3,710,000 3,215,000

$ 12,850,885 12,182,683 11,495,990 10,803,892 10,106,372 9,389,480 8,652,675 7,895,400 7,117,088 6,317,152

Total Primary Government

Percentage of Personal Income

Per Capita

$ 122,862,336 113,666,564 114,266,736 110,796,138 106,746,463 122,422,149 110,511,783 98,410,920 87,189,914 79,012,313

2.36% 2.36% 2.84% 2.64% 2.34% 2.45% 2.45% 1.79% 1.53% 1.36%

734 973 892 887 858 826 905 736 652 581

158

City of Coral Springs, Florida

Table 13

Ratios of General Bonded Debt Outstanding (Unaudited) Last Ten Fiscal Years

General Bonded Debt Outstanding General General Obligation Obligation Refunding Bonds Bonds Total

Fiscal Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

11,956,190 11,227,518 10,481,358 9,717,290 8,934,884 8,133,701 7,313,289 6,473,187 5,612,923 4,732,012

14,928,133 13,728,851 12,497,830 11,230,716 9,927,824 8,599,728 7,242,680 5,853,048 4,437,322 2,986,934

Source: Broward County, Florida Property Appraiser City of Coral Springs, Department of Financial Services

159

26,884,322 24,956,369 22,979,188 20,948,006 18,862,708 16,733,429 14,555,969 12,326,235 10,050,245 7,718,946

Percentage of Actual Taxable Value of Property

Per Capita

0.30% 0.26% 0.23% 0.20% 0.17% 0.14% 0.11% 0.10% 0.07% 0.05%

$212.92 195.92 178.47 162.30 145.93 124.51 108.31 92.20 75.11 56.73

City of Coral Springs, Florida

Table 14

Direct and Overlapping Governmental Activities Debt (Unaudited) As of September 30, 2025

Governmental Unit Broward County Broward County School Board

Debt Outstanding

Estimated Percentage Applicable

9,400,000 811,556,000

5.11468% 4.64441%

Estimated Share of Direct and Overlapping Debt $

480,780 37,691,988

Subtotal, overlapping debt

38,172,768

City direct debt Total direct and overlapping debt

69,480,161 107,652,929

Sources: Assessed value data used to estimate applicable percentages provided by the Broward County, Florida Property Appraiser. Debt outstanding data provided by each governmental unit. Note: Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the City. This schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by the residents and businesses of Coral Springs. This process recognizes that, when considering the City’s ability to issue and repay long-term debt, the entire debt burden borne by the residents and businesses should be taken into account. However, this does not imply that every taxpayer is a resident, and therefore responsible for repaying the debt of each overlapping government.

160

City of Coral Springs, Florida

Table 15

Legal Debt Margin Information (Unaudited) Last Ten Fiscal Years

The charter of the City of Coral Springs does not impose a bonded debt limit.

161

City of Coral Springs, Florida

Table 16

Pledged-Revenue Coverage (Unaudited) Last Ten Fiscal Years

Water and Sewer Revenue Bonds and State Revolving Loans

Fiscal Year

Gross Revenue (1)

Less: Operating Expenses (2)

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

$ 21,896,336 22,663,702 23,603,442 24,484,770 24,704,665 25,594,794 25,391,132 27,065,009 29,266,845 31,438,508

$ 15,756,134 14,880,043 16,157,166 17,396,140 17,319,626 18,005,330 18,920,594 21,066,059 21,792,023 22,313,285

Net Available Revenue $

6,140,202 7,783,659 7,446,276 7,088,630 7,385,039 7,589,464 6,470,538 5,998,950 7,474,822 9,125,223

Debt Service Principal Interest $

1,527,214 1,564,202 1,602,691 1,622,098 1,648,520 1,687,892 1,732,805 1,774,275 1,816,312 1,294,936

603,116 500,000 577,885 545,582 504,439 462,340 429,143 385,104 339,920 293,725

(1) Includes operating revenue and interest income. (2) Includes other nonoperating expenses and excludes depreciation, interest, loss on disposal of capital assets and amortization of bond issue costs. Source: City of Coral Springs, Department of Financial Services

162

Coverage 2.88 3.77 3.41 3.27 3.43 3.53 2.99 2.78 3.47 5.74

City of Coral Springs, Florida

Table 17

Demographic and Economic Statistics (Unaudited) Last Ten Fiscal Years

Fiscal Year

Population (1)

Personal Income

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

126,264 127,381 128,757 129,067 129,263 134,394 134,394 133,693 133,801 136,062

$ 3,961,280,472 3,996,324,113 4,331,256,723 4,341,684,813 4,554,840,331 4,735,641,378 5,535,688,860 5,506,814,670 5,703,133,824 5,799,506,688

Per Capita Personal Income (2)

Median Age (2)

School Enrollment (3)

Unemployment Rate (4)

31,373 31,373 33,639 33,639 35,237 35,237 41,190 41,190 42,624 42,624

36.5 36.5 37.8 38.2 37.3 37.4 38.3 38.3 39.3 39.3

30,809 31,064 30,903 30,419 30,419* 26,634 29,016 28,972 27,472 28,180

4.5% 3.2% 2.7% 2.7% 6.7% 3.9% 2.3% 2.9% 3.2% 4.0%

Source: (1) Bureau of Economic and Business Research (2) U.S. Census Bureau – ESRI – information is updated biennially (every 2 years) (3) School Board of Broward County, Florida (4) U.S. Bureau of Labor Statistics

163

City of Coral Springs, Florida

Table 18

Principal Employers (Unaudited) Current Year and Nine Years Ago

2025

Employer

Employees

Broward County Schools City of Coral Springs Publix Supermarkets Fiserv Broward Health Coral Springs* Walmart ABB Optical* CTS Engines Costco Decimal Engineering First Data Coral Springs Medical Center Coral Springs Auto Mall Target Macy’s Sears Roebuck & Co Total

8,511

Source: 2016 Coral Springs Economic Development Foundation 2025 Coral Springs Office of Economic Development

8,511

2016 Percentage of Total City Employment

Rank

1,752 1,349 1,331 1,002 985 877 416 412 237 150 -

1 2 3 4 5 6 7 8 9 10 -

164

2.33% 1.79% 1.77% 1.33% 1.31% 1.16% 0.55% 0.55% 0.31% 0.20% -

Employees

11.30%

2,029 831 1,103 846 2,000 1,127 390 306 250 233 9,115

11.30%

9,115

Percentage of Total City Employment

Rank 1 6 4 5 2 3 7 8 9 10

2.90% 1.19% 1.58% 1.21% 2.86% 1.61% 0.56% 0.44% 0.36% 0.33% 13.04%

13.04%

City of Coral Springs, Florida

Table 19

Full-Time Equivalent City Government Employees by Function (Unaudited) Last Ten Fiscal Years

Function

2025

2024

2023

2022

2021

2020

2019

2018

2017

2016

General government Police Fire & EMS Parks and recreation Public works Development services Education and cultural Water and sewer Stormwater Equipment services Other Total

120 338 216 89 27 71 12 42 20 16 8 959

115 333 213 91 25 68 6 42 20 15 8 936

110 332 209 95 22 67 6 42 17 15 8 923

104 333 205 96 31 66 6 42 11 15 8 917

105 324 201 93 26 64 6 41 10 15 8 893

101 311 201 95 26 65 41 10 15 8 873

96 311 190 105 36 68 40 15 8 869

94 309 185 105 35 68 41 15 8 860

93 302 180 106 29 66 40 15 6 837

92 301 179 105 28 66 40 15 5 831

Source: City of Coral Springs, Department of Budget and Strategy

165

City of Coral Springs, Florida Operating Indicators by Function (Unaudited) Last Ten Fiscal Years

Function General government Building permits issued Building inspections conducted

2024

2023

2022

8,656 23,657

7,914 27,223

8,490 30,970

8,876 24,053

Police Physical arrests Parking violations Traffic violations

1,755 2,182 22,728

1,882 1,812 20,255

1,422 1,381 20,217

1,136 1,664 19,142

Fire Emergency responses Fire responses Inspections

14,041 127 5,887

13,984 121 6,205

17,809 160 6,921

14,628 122 5,443

Public works Streets resurfacing (miles) Potholes repaired

5 96

2 133

5 69

4 74

Recreation and culture Athletic field permits issued Center for the Arts

11,700 84,906

10,258 70,951

7,609 74,280

11,810 71,310

13,482 15 6,256

13,433 6

13,316 9

13,338 8

5,988

6,050

6,140

Water Consumers Water main breaks Average daily consumption (thousands of gallons)

2025

Sewer Average daily sewage treatment (thousands of gallons)

6,580

7,030

7,040

Transit Total route miles Passengers

96,863 58,684

96,364 49,363

70,720 53,722

88,052 49,382

Source: City of Coral Springs, Florida

166

Table 20

2021

2020

2019

2018

2017

2016

10,467 28,371

10,037 31,050

11,323 31,581

10,667 34,296

9,902 30,665

9,928 21,217

1,482 292 11,972

1,139 423 11,334

1,876 2,960 22,534

1,712 3,562 25,409

1,821 2,151 14,680

2,179 2,701 17,229

9,596 115 7,044

12,985 138 5,763

13,392 114 6,952

15,367 180 11,381

15,137 170 6,392

14,762 185 7,092

4 99

5 92

5 98

1 106

3 85

8,185 32,407

10,654 41,853

7,181 109,000

1,473 110,712

1,315 115,173

1,619 111,376

13,318 3

13,262 7

13,188 11

13,142 9

13,038 6

12,991 10

6,135

6,018

6,057

6,082

6,131

5,829

7,580

7,670

7,560

8,450

7,620

8,410

88,555 38,048

86,164 39,715

89,842 57,494

89,981 56,416

96,660 75,859

90,251 78,689

167

City of Coral Springs, Florida

Capital Asset Statistics by Function (Unaudited) Last Ten Fiscal Years

Function Police Stations Substations Patrol units

2025

2024

2023

2022

1 0 146

1 1 146

1 2 144

Public works Streets (lane miles) Streetlights

225 486

225 484

224 486

224 484

Recreation and culture Parks Parks – acres Playgrounds Playgrounds – acres Pools Tennis courts Baseball/softball diamonds Basketball courts Pickleball courts Soccer/football fields Center for the Arts Community centers

49 768 32 3 10 39 24 25 26 15 1 5

49 768 32 3 11 39 24 25 26 15 1 5

49 768 32 3 10 39 24 25 14 15 1 5

157 1,155

157 1,157

8,400

9,790

Fire Stations

Water Water mains (miles) * Fire hydrants Storage capacity (millions of gallons) Sewer Sanitary sewers (miles) Treatment capacity (thousands of gallons) Transit Buses

* Only Force Mains included; this number was overstated in prior years and included gravity sewer lines.

168

Table 21

2021

2020

2019

2018

2017

2016

1 2 146

1 2 140

224 432

224 415

224 387

49 768 32 3 10 39 24 25 14 15 1 5

49 768 30 3 10 39 24 28 14 15 1 5

49 768 33 3 10 39 24 28 2 15 1 3

48 765 33 3 10 39 24 28 2 15 1 3

157 1,157

153 1,155

8,400

9,790

169

Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards Independent Auditor’s Report Honorable Mayor and Members of the City Commission City of Coral Springs, Florida We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States (Government Auditing Standards), the financial statements of the governmental activities, the business-type activities, the discretely presented component unit, each major fund and the aggregate remaining fund information of the City of Coral Springs, Florida (the City), as of and for the year ended September 30, 2025, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements, and have issued our report thereon dated April 10, 2026. Our report includes a reference to other auditors who audited the financial statements of the City of Coral Springs Firefighters’ Retirement Plan and City of Coral Springs Police Officers’ Retirement Plan. This report does not include the results of the other auditors’ testing of internal control over financial reporting or compliance and other matters that are reported on separately by those auditors. Our report also includes an emphasis of matter paragraph for the adoption of Government Accounting Standards Board Statement No. 101, Compensated Absences, effective October 1, 2024. Our report is not modified with respect to this matter. Report on Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, we considered the City’s internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, we do not express an opinion on the effectiveness of the City’s internal control. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were not identified.

170

Report on Compliance and Other Matters As part of obtaining reasonable assurance about whether the City’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. Purpose of This Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.

Fort Lauderdale, Florida April 10, 2026

171

Report on Compliance for Each Major Federal Program and the Major State Financial Assistance Project; Report on Internal Control Over Compliance; and Report on Schedule of Expenditures of Federal Awards and State Financial Assistance Required by the Uniform Guidance and State of Florida Chapter 10.550, Rules of the Auditor General Independent Auditor’s Report Honorable Mayor and Members of the City Commission City of Coral Springs, Florida Report on Compliance for Each Major Federal Program and the Major State Financial Assistance Project Opinion on Each Major Federal Program and the Major State Financial Assistance Project We have audited the City of Coral Springs, Florida’s (the City) compliance with the types of compliance requirements identified as subject to audit in the OMB Compliance Supplement and in the State of Florida’s Department of Financial Services’ State Projects Compliance Supplement that could have a direct and material effect on each of City’s major federal programs and major state financial assistance project for the year ended September 30, 2025. The City’s major federal programs and major state financial assistance project are identified in the summary of auditor’s results section of the accompanying schedule of findings and questioned costs. In our opinion, the City complied, in all material respects, with the compliance requirements referred to above that could have a direct and material effect on each of its major federal programs and major state financial assistance project for the year ended September 30, 2025. Basis for Opinion on Each Major Federal Program and the Major State Financial Assistance Project We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America (GAAS); the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States (Government Auditing Standards); the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance); and the State of Florida Chapter 10.550, Rules of the Auditor General (Chapter 10.550). Our responsibilities under those standards, the Uniform Guidance and Chapter 10.550 are further described in the Auditor’s Responsibilities for the Audit of Compliance section of our report. We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on compliance for each major federal program and the major state financial assistance project. Our audit does not provide a legal determination of the City’s compliance with the compliance requirements referred to above.

172

Other Matter — Federal and State Expenditures Not Included in the Compliance Audit The City’s basic financial statements include the operations of the Coral Springs Charter School, which expended federal awards which is not included in the City’s schedule of expenditures of federal awards during the year ended September 30, 2025. Our compliance audit, described in the Opinion on Each Major Federal Program and the Major State Financial Assistance Project, does not include the operations of the Coral Springs Charter School because the Coral Springs Charter School engaged other auditors to perform an audit of compliance. Responsibilities of Management for Compliance Management is responsible for compliance with the requirements referred to above and for the design, implementation, and maintenance of effective internal control over compliance with the requirements of laws, statutes, regulations, rules and provisions of contracts or grant agreements applicable to the City’s federal programs and state financial assistance projects. Auditor’s Responsibilities for the Audit of Compliance Our objectives are to obtain reasonable assurance about whether material noncompliance with the compliance requirements referred to above occurred, whether due to fraud or error, and express an opinion on the City’s compliance based on our audit. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS, Government Auditing Standards, the Uniform Guidance and Chapter 10.550 will always detect material noncompliance when it exists. The risk of not detecting material noncompliance resulting from fraud is higher than for that resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Noncompliance with the compliance requirements referred to above is considered material, if there is a substantial likelihood that, individually or in the aggregate, it would influence the judgment made by a reasonable user of the report on compliance about the City’s compliance with the requirements of each major federal program and the major state financial assistance project as a whole. In performing an audit in accordance with GAAS, Government Auditing Standards, the Uniform Guidance and Chapter 10.550, we 

Exercise professional judgment and maintain professional skepticism throughout the audit.



Identify and assess the risks of material noncompliance, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the City’s compliance with the compliance requirements referred to above and performing such other procedures as we considered necessary in the circumstances.



Obtain an understanding of the City’s internal control over compliance relevant to the audit in order to design audit procedures that are appropriate in the circumstances and to test and report on internal control over compliance in accordance with the Uniform Guidance and Chapter 10.550, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control over compliance. Accordingly, no such opinion is expressed.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and any significant deficiencies and material weaknesses in internal control over compliance that we identified during the audit.

173

Report on Internal Control Over Compliance A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a federal program or state financial assistance project on a timely basis. A material weakness in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program or state financial assistance project will not be prevented, or detected and corrected, on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal program or state financial assistance project that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance. Our consideration of internal control over compliance was for the limited purpose described in the Auditor’s Responsibilities for the Audit of Compliance section above and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies in internal control over compliance. Given these limitations, during our audit we did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as defined above. However, material weaknesses or significant deficiencies in internal control over compliance may exist that were not identified. Our audit was not designed for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, no such opinion is expressed. The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of the Uniform Guidance and Chapter 10.550. Accordingly, this report is not suitable for any other purpose. Report on Schedules of Expenditures of Federal Awards and State Financial Assistance Required by the Uniform Guidance and Chapter 10.550 We have audited the financial statements of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the City as of and for the year ended September 30, 2025, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements. We issued our report thereon, dated April 10, 2026, which contained unmodified opinions on those financial statements. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the basic financial statements. The accompanying schedules of expenditures of federal awards and state financial assistance are presented for purposes of additional analysis as required by the Uniform Guidance and Chapter 10.550 and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the schedules of expenditures of federal awards and state financial assistance are fairly stated, in all material respects, in relation to the basic financial statements as a whole.

Fort Lauderdale, Florida April 10, 2026

174

City of Coral Springs, Florida Schedule of Expenditures of Federal Awards Fiscal Year Ended September 30, 2025

Federal Agency/Pass-Through Agency/Program or Cluster Title U.S. Department of Energy: Energy Efficiency & Conservation Block Grant (EECBG) Total U.S. Department of Energy U.S. Department of Homeland Security: Passed through Florida Division of Emergency Management Disaster Grants - Public Assistance (Presidentially Declared Disasters) Assistance to Firefighter Grant Assistance to Firefighter Grant Assistance to Firefighter Grant Passed through City of Miami, Florida: Homeland Security Grant Program Total U.S. Department of Homeland Security U.S. Department of Housing and Urban Development CDBG - Entitlement Grants Cluster Community Development Block Grant/Entitlement Grants Community Development Block Grant/Entitlement Grants Community Development Block Grant/Entitlement Grants Community Development Block Grant/Entitlement Grants Community Development Block Grant/Entitlement Grants Community Development Block Grant/Entitlement Grants Total CDBG - Entitlement Grants Cluster

Federal Assistance Listing Number

Contract Number

Pass-Through Entity Identifying Number

Total Federal Expenditures

81.128

EECEQ-00238

Not applicable

97.036

Z0152

93-017-2528

10,925

97.044 97.044 97.044

EMW-2021-FG-03136 EMW-2022-FG-02960 EMW-2022-FP-00234

93-017-2528 93-017-2528 93-017-2528

68,851 26,519 7,995 103,365

97.067

R0232

07-222-0791

512,956 627,246

14.218 14.218 14.218 14.218 14.218 14.218

B-18-MC-12-0036 B-21-MC-12-0036 B-22-MC-12-0036 B-23-MC-12-0036 B-24-MC-12-0036 B-25-MC-12-0036

Not applicable Not applicable Not applicable Not applicable Not applicable Not applicable

7,500 2,058 38,619 193,475 571,499 310,566 1,123,717

Total U.S. Department of Housing and Urban Development

172,940 172,940

1,123,717

U.S. Department of Transportation Highway Safety Cluster Passed through Florida Department of Transportation State and Community Highway Safety 20.600 Total Highway Safety Cluster and U.S. Department of Transportation

G2S36

80-939-7102

59,492 59,492

U.S. Department of Justice: Equitable Sharing Program

16.922

None

Not applicable

147,953

Passed through City of Pompano Beach, Florida Edward Byrne Memorial Justice Assistance Grant Program Total U.S. Department of Justice

16.738

2018-DJ-BX-0884

08-018-1167

15,446 163,399

21.027

None

Not applicable

5,459,826

21.016

None

Not applicable

1,249,828 6,709,654

93.136

BW842

L924BA1SEN75

249,572

U.S. Department of Treasury Covid-19 – Coronavirus State and Local Fiscal Recovery Funds Equitable Sharing Total U.S. Department of Treasury U.S. Department of Health and Human Services Passed through State of Florida, Department of Health: Injury Prevention and Control Research and State and Community Based Programs Total U.S. Health and Human Services

249,572

Total Expenditures of Federal Awards

See Notes to Schedules of Expenditures of Federal Awards.

175

9,106,020

City of Coral Springs, Florida Schedule of State Financial Assistance Fiscal Year Ended September 30, 2025 Total State Expenditures

CSFA Number

Contract Number

43.013

FM587

Florida Housing Finance Corporation State Housing Initiatives Partnership Program (SHIP)

40.901

None

1,075,841

Florida Department of Health Emergency Medical Services Matching Grant

64.003

None

106,761

Florida Department of Law Enforcement FDLE Drone Replacement Program

71.092

3X064

174,998

Florida Department of State, Division of Cultural Affairs: General Program Support

45.061

None

5,420

Florida Department of Environmental Protection Resilient Florida Program

37.098

24PLN62

10,130

State Agency/Pass-Through Agency/Project Title Florida Department of Financial Services Fire Decontamination Equipment Grant Project

Total Expenditures of State Financial Assistance

See Notes to Schedules of Expenditures of State Financial Assistance.

176

64,425

1,437,575

City of Coral Springs, Florida Notes to Schedules of Expenditures of Federal Awards and State Financial Assistance Note 1.

Basis of Presentation

The accompanying Schedule of Expenditures of Federal Awards and Schedule of State Financial Assistance (the Schedules) includes the federal and state award activity of the City of Coral Springs, Florida (the City) under programs of the federal and state government for the year ended September 30, 2025. The information in the Schedules is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and Chapter 10.550, Rules of the Auditor General of the State of Florida (Chapter 10.550). Because the Schedules present only a selected portion of the operations of the City, they are not intended to and do not present the financial position, changes in fund balance/net position or cash flows of the City. Note 2.

Summary of Significant Accounting Policies

The Schedules are presented using the modified accrual basis of accounting for expenditures accounted for in the governmental funds and on the accrual basis of accounting for expenses of the proprietary fund types, which are described in Note 1 to the City’s basic financial statements. Such expenditures/expenses are recognized following the cost principles contained in the Uniform Guidance and Chapter 10.550, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Note 3.

Indirect Cost Rate

The City has elected not to use the 10% de minimis indirect cost rate for awards prior to October 1, 2024 nor the 15% de minimis indirect cost rate for awards on or after October 1, 2024, as allowed under the Uniform Guidance Note 4.

Subrecipient Awards

The City did not make subawards of federal awards or state financial assistance during the year ended September 30, 2025.

177

City of Coral Springs, Florida Schedule of Findings and Questioned Costs Section I – Summary of Auditor's Results Financial Statements Type of report the auditor issued on whether the financial statements audited were prepared in accordance with U.S. GAAP:

Unmodified

Internal control over financial reporting: Material weakness(es) identified? Significant deficiency(ies) identified? Noncompliance material to financial statements noted?

Yes Yes Yes

X X X

No None Reported No

Federal Awards Internal control over major federal programs: Material weakness(es) identified? Significant deficiency(ies) identified?

Yes Yes

X X

No None Reported

Type of auditorʼs report issued on compliance for major federal programs: Any audit findings disclosed that are required to be reported in accordance with 2 CFR 200.516(a)?

Unmodified

Yes

Identification of major federal programs: Assistance Listing Number(s) 21.027 21.016 97.067

Name of Federal Program or Cluster Covid-19 – Coronavirus State and Local Fiscal Recovery Funds Equitable Sharing Homeland Security Grant Program

Dollar threshold used to distinguish between type A and type B programs:

Auditee qualified as low-risk auditee?

Yes (Continued)

178

1,000,000 X

City of Coral Springs, Florida Schedule of Findings and Questioned Costs (Continued) State Financial Assistance Internal control over major state project: Material weakness(es) identified? Significant deficiency(ies) identified?

Yes Yes

Type of auditor's report issued on compliance for major state project:

No None Reported

Unmodified

Any audit findings disclosed that are required to be reported in accordance with Chapter 10.550, Rules of the Auditor General?

Yes

Identification of major project: CSFA Number 40.901

X X

Name of State Project State Housing Initiatives Partnership Program (SHIP)

Dollar threshold used to distinguish between type A and type B projects:

II – Financial Statement Findings No matters to report. III – Federal Awards Findings and Questioned Costs A. Internal Control No matters to report. B. Compliance No matters to report.

179

431,273

SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS FOR THE YEAR ENDED SEPTEMBER 30, 2025

Identifying Number: 

CF 2024-001 – Reporting



IC 2024-001 – Reporting

Audit Finding: We noted that Form SF-425, Federal Financial Reports were not filed timely with the grantor, as required by program guidelines. Additionally, there was no evidence of supervisory review of the reports that were filed with the grantor. Corrective Action Taken: This finding has been corrected.

180

EVERYTHING UNDER THE SUN

CITY OF CORAL SPRINGS, FLORIDA 9500 West Sample Road Coral Springs, Florida 33065 CoralSprings.gov • 954-344-1000