Fiscal Year 2016MONROE COUNTY, FLORIDA
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED
SEPTEMBER 30, 2016
KEVIN MADOK, CPA
CLERK OF THE CIRCUIT COURT & COMPTROLLER
9s .
CLERK OF THE CIRCUIT COURT FINANCE DEPARTMENT
PAM RADLOFF, CPA
FINANCE DIRECTOR
MONROE COUNTY, FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2016
PAGE
INTRODUCTORY SECTION
Transmittal Letter of the Clerk of the Circuit Court and Comptroller A-1
Certificate of Achievement for Excellence in Financial Reporting A-8
List of Elected and Appointed Officials A-9
Organizational Chart A-10
FINANCIAL SECTION
Report of Independent Auditor B-1
Management's Discussion and Analysis C-1
Basic Financial Statements:
Government -Wide Financial Statements
Statement of Net Position
D-1
Statement of Activities
D-3
Fund Financial Statements
Balance Sheet - Governmental Funds
E-1
Reconciliation of the Balance Sheet of Governmental Funds to the
Statement of Net Position
E-3
Statement of Revenues, Expenditures, and Changes in Fund Balances -
Governmental Funds
E-4
Reconciliation of the Statement of Revenues, Expenditures, and Changes in
Fund Balances of Governmental Funds to the Statement of Activities
E-6
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
Major Governmental Funds:
General Fund
E-7
Fine and Forfeiture Special Revenue Fund
E-11
HIDTA Grants Special Revenue Fund
E-13
Governmental Grants Special Revenue Fund
E-14
Statement of Net Position - Proprietary Funds
E-17
Statement of Revenues, Expenses, and Changes in Net Position -
Proprietary Funds
E-21
Statement of Cash Flows - Proprietary Funds
E-23
Statement of Fiduciary Net Position - Fiduciary Funds
E-27
Notes to Financial Statements
F-1
Required Supplementary Information
G-1
Combining and Individual Fund Statements and Schedules:
Combining Balance Sheet - Nonmajor Governmental Funds
H-1
Combining Statement of Revenues, Expenditures, and Changes in Fund
H-13
Balances - Nonmajor Governmental Funds
Schedules of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
Special Revenue Funds and Capital Projects Funds:
Affordable Housing Programs
H-25
Road and Bridge
H-26
Tourist Development, All Districts, Two Cent
H-27
Tourist Development, Administration and Promotional, Two Cent
H-28
MONROE COUNTY, FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2016
PAGE
Tourist Development, District One
H-29
Tourist Development, District Two
H-30
Tourist Development, District Three
H-31
Tourist Development, District Four
H-32
Tourist Development, District Five
H-33
Impact Fees - Roadways
H-34
Impact Fees - Parks and Recreation
H-35
Impact Fees - Libraries
H-36
Impact Fees - Solid Waste
H-37
Impact Fees - Police Facilities
H-38
Impact Fees - Fire and EMS
H-39
Impact Fees - Employee Fair Share Housing
H-40
Fire and Ambulance, District One - Lower and Middle Keys
H-41
Upper Keys Health Care Special Taxing District
H-42
Unincorporated Area Service District - Parks and Recreation
H-43
Unincorporated Area Service District - Planning, Building, and Zoning
H-44
Municipal Policing
H-46
Duck Key Security District
H-47
Local Housing Assistance
H-48
Boating Improvement
H-49
Miscellaneous
H-50
Environmental Restoration
H-52
Court Facility Fees
H-53
Drug Abuse Trust
H-54
Marathon Municipal Service Taxing Unit
H-55
Bay Point Municipal Service Taxing Unit
H-56
Key Largo Municipal Service Taxing Unit
H-57
Big Coppitt Municipal Service Taxing Unit
H-58
Stock Island Wastewater Municipal Service Taxing Unit
H-59
Cudjoe-Sugarloaf Municipal Service Taxing Unit
H-60
Conch Key Municipal Service Taxing Unit
H-61
Long Key -Layton Municipal Service Taxing Unit
H-62
Duck Key Municipal Service Taxing Unit
H-63
Building Fund
H-64
Clerk's Revenue Note Capital Projects Fund
H-65
Infrastructure Revenue Bonds Series 2007 Capital Projects Fund
H-66
Duck Key Wastewater Project Capital Projects Fund
H-67
Infrastructure Revenue Bonds Series 2014 Capital Projects Fund
H-68
Long Key Wastewater Project Capital Projects Fund
H-69
Land Acquisition Fund Capital Projects Fund
H-70
Sheriff's Teen Court
H-71
Sheriff's Federal Forfeiture
H-72
Sheriff's State Forfeiture
H-73
Sheriff's Contract Administrative
H-74
Sheriff's Commissary
H-75
Sheriff's Interagency Communications
H-76
Sheriff's Trauma Star
H-77
Sheriff's Radio Communications
H-78
MONROE COUNTY, FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2016
PAGE
Sheriff's Grants H-79
Sheriff's Shared Asset Forfeiture H-80
Sheriff's E911 H-81
Clerk's Records Modernization H-82
Clerk's Court Related H-83
Schedules of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
Major Governmental Funds:
One Cent Infrastructure Surtax Capital Project Fund H-84
Big Coppitt Wastewater Capital Project Fund H-85
Cudjoe Regional Wastewater Capital Project Fund H-86
All Debt Service Funds H-87
Combining Statement of Net Position - Internal Service Funds H-89
Combining Statement of Revenues, Expenses, and Changes in Net Position -
Internal Service Funds H-91
Combining Statement of Cash Flows - Internal Service Funds H-93
Combining Statement of Fiduciary Net Position - All Agency Funds H-97
Combining Statement of Changes in Fiduciary Net Position - All Agency Funds H-98
STATISTICAL SECTION
Introduction
1-1
Net Position by Component
1-2
Changes in Net Position
1-3
Governmental Activities Tax Revenues By Source
1-6
Fund Balances of Governmental Funds
1-7
Changes in Fund Balances of Governmental Funds
1-8
General Governmental Tax Revenues By Source
1-10
Assessed Value and Estimated Actual Value of Taxable Property
1-11
Direct and Overlapping Governments
1-12
Principal Property Taxpayers
1-13
Property Tax Levies and Collections
1-14
Ratios of Outstanding Debt by Type
1-15
Ratios of General Bonded Debt Outstanding
1-16
Direct and Overlapping Governmental Activities Debt
1-17
Legal Debt Margin Information
1-18
Pledged -Revenue Coverage - Governmental Activities
1-19
Pledged Revenue Bonds and Notes - Business -Type Activities
1-20
Demographic and Economic Statistics
1-21
Principal Employers
1-22
Full-time Equivalent County Government Employees by Function
1-23
Operating Indicators by Function
1-24
Capital Asset Statistics by Function
1-25
MONROE COUNTY, FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2016
PAGE
SINGLE AUDIT/GRANTS COMPLIANCE SCHEDULES
Report of Independent Auditor on Internal Control over Financial Reporting and on
J-1
Compliance and Other Matters Based on an Audit of Financial Statements
Performed in Accordance with Government Auditing Standards
Report of Independent Auditor on Compliance for Each Major Federal Awards
J-3
Program and State Financial Assistance Project and on Internal Control
Over Compliance Required by OMB Uniform Guidance and Chapter 10.550,
Rules of the Auditor General
Schedule of Expenditures of Federal Awards and State Financial Assistance
J-5
Projects
Notes to Schedule of Expenditures of Federal Awards and State Financial
J-11
Assistance
Schedule of Findings and Questioned Costs - Federal Awards Programs and State
J-12
Financial Assistance Projects
Corrective Action Plan - Federal Awards Programs and State Financial Assistance
J-15
Projects
Summary Schedule of Prior Year Audit Findings - Federal Awards Programs and State
J-16
Financial Assistance
Independent Auditor's Management Letter
K-1
Report of Independent Accountant on Compliance with Local Government
Investment Policies and E911 Requirements of Sections
365.172 and 365.173, Florida Statutes
K-3
OTHER INFORMATION
Schedule of Receipts and Expenditures of Funds
Related to the Deepwater Horizon Oil Spill L-1
uKEVIN MADOK, CPA
MONROE COUNTY CLERK OF THE CIRCUIT COURT 8r COMPTROLLER
March 31, 2017
The Honorable George Neugent
Mayor, Board of County Commissioners
Citizens of Monroe County, Florida
We are pleased to submit the Comprehensive Annual Financial Report (CAFR) for Monroe
County, Florida for the fiscal year ended September 30, 2016.
Monroe County's CAFR is prepared by the Finance Department of the Clerk of the Circuit Court
& Comptroller. Responsibility for both the accuracy of the presented data and the completeness
and fairness of the presentation, including all disclosures, rests with the Clerk of the Circuit
Courts & Comptroller as Chief Financial Officer of Monroe County. We assert that, to the best
of our knowledge and belief, this financial report is complete and reliable in all material aspects.
It is presented in a format designed to fairly present the financial position and results of
operations of Monroe County as measured by the financial activity of its various funds; and that
all disclosures needed to allow the reader to gain a comprehensive understanding of the County's
financial activity have been included.
The County has established a comprehensive internal control framework that is designed both to
protect the County's assets from loss, theft, or misuse and to compile sufficient reliable
accounting information for financial statement preparation in conformity with United States
generally accepted accounting principles (GAAP) established by the Government Accounting
Standards Board. Because the cost of internal controls should not outweigh their benefits, the
objective is to provide reasonable rather than absolute assurance that the financial statements will
be free of material misstatement.
In addition, the Federal Single Audit Act, the Florida Single Audit Act and Title 2 U.S. Code of
Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards, require an independent auditor to report on the government's
internal controls and compliance with legal requirements concerning the administration of
federal awards and state financial assistance. This report is published to fulfill these
requirements.
Independent Audit
In compliance with Florida Statute Chapter 218.39, an independent certified public accountant is
to audit the financial statements of counties in the State. Cherry Bekaert LLP has issued an
unmodified ("clean") opinion on the Monroe County, Florida financial statements for the year
Es
ended September 30, 2016. The report of the independent auditor is located at the front of the
financial section of this report.
Management Discussion and Analysis
GAAP requires 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). The MD&A can be found immediately following the report of the independent auditor
and provides a narrative introduction, overview, and analysis of the basic financial statements.
This letter of transmittal is designed to complement the MD&A and should be read in
conjunction with it.
Monroe County Profile
Basic Information
Monroe County was constitutionally formed in 1823. It is comprised of a string of subtropical
islands that stretch more than one hundred miles into the Atlantic Ocean. These islands are
connected in a chain -like fashion to the mainland by a series of forty-two bridges. The County
seat, Key West, is approximately one hundred fifty miles southwest of Miami. Havana, Cuba lies
a mere ninety miles to the south.
Monroe County is a non -charter county established under the Constitution and the laws of the
State of Florida. Legislative authority and policy decisions are vested in the Board of County
Commissioners consisting of the mayor and four other members, all of whom are elected. The
operation of other specific government functions resides with five Constitutional Officers. These
Officers are elective and their titles indicative of their specific function. The positions are the
Clerk of the Court and Comptroller, Property Appraiser, Sheriff, Supervisor of Elections, and
Tax Collector. Monroe County provides a full range of services including roads, health and
social services, emergency medical services, park and recreational services, solid waste services,
airport services, and other governmental services.
Reporting Entity
For financial reporting purposes, the County's primary government consists of the Board of
County Commissioners, the Constitutional Officers, and the Monroe County Industrial
Development Authority, a blended corporate unit. The Monroe County Comprehensive Plan
Land Authority is legally separate and is treated as a discretely -presented component unit.
Additional information on component units can be found in the notes to the financial statements.
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Formal budgetary integration is employed as a management control device during the year for all
fund types except as described in the notes to the financial statements. Constitutional Officers
funded by the Board must submit their budgets by June 1 of each year. Monroe County follows
the laws of Florida regarding the control, adoption, and amendment of the budget during each
fiscal year. The Board conducts budget meetings on departmental budgets and Constitutional
Officers' requests. Based on the information presented at the meetings, a tentative budget is
presented to the public by Board resolution. The public then responds to the tentative budget at
public hearings. A final public hearing is then held and the final budget is adopted. During the
year, the Office of Management and Budget acts on intradepartmental budget changes that do not
alter the total revenue or expenditures budgeted to a cost center. All other budget changes,
including transfers between cost centers or alterations of total revenues and expenditures in a
fund, are approved by the Board.
Economic Condition
Local Economy
Monroe County occupies a unique and very beautiful corner of the United States. Our
subtropical chain of islands offers mild climate year-round and extensive recreational water
activities. This makes the Florida Keys and Key West a major domestic and international tourist
destination. Four of the top ten taxpayers in Monroe County are in the hospitality industry. With
airport enplanements increasing by almost 5% in the past year, the County's bed tax revenues
continue to increase each year since 2009, including a 6.5% increase from FY 15 to FY 16.
The 2015 tax roll assessed in 2016 remained approximately the same as the prior year. The
nationwide real estate market in 2016 has been stable, as has Monroe County. In addition, since
2015, property tax collections have risen over 3%. All taxable sales have increased by 2.55%
from 2015 levels. The local economy is continuing on an upward trend.
The County's unemployment rate of 3.3% at September 30, 2016 is below the 4.9%
unemployment rates of both the state and national levels.
Long-term Financial Planning
The County has developed and recently adopted the Monroe County 2030 Comprehensive Plan
(Comp Plan). The County adopted the Comp Plan on April 13, 2016 and the State approved the
Comp Plan on June 20, 2016. The 2030 Comp Plan describes the County's goals in the areas of
land use; conservation and coastal management; traffic circulation; mass transit; ports, aviation
and related facilities; affordable housing; potable water; solid waste; sanitary sewer; storm water
drainage; natural groundwater aquifer recharge; recreation and open space; intergovernmental
coordination; and capital improvements. This new Comp Plan also includes a new element to
address energy conservation and impacts from climate change.
Monroe County processed the following amendments to the Comp Plan:
• The County adopted the 10-Year Water Supply Plan Update to be consistent with the
South Florida Water Management District Lower East Coast Water Supply Plan Update
of 2013.
MN
• The County adopted a Future Land Use Map (FLUM) amendment for one parcel from
Residential Low (RL) to Commercial (COMM), for property in Key Largo, having real
estate number 00088350.000000 to resolve an existing nonconformity.
• The County adopted a text amendment amending the Livable Communikeys Program
Master Plan for Future Development of Big Pine Key and No Name Key by amending
the Tier Designation for property having Real Estate Numbers 00300090-000000;
00300180-000000; 00300590-000000 and 00300670-000000 from Tier I to Tier III on
Figure 2.1 (Tier Map For Big Pine Key And No Name Key).
• The County adopted a FLUM amendment for one parcel from Residential Conservation
(RC) to Recreation (R) and Conservation (C) for property in Ocean Reef, having Real
Estate Number 00573690.003900 for the potential development of a recreational area.
• The County adopted FLUM amendments for two parcels from Residential Low (RL) to
Mixed Use/Commercial (MC), for property located at 97770 and 97702 Overseas
Highway, MM98, Key Largo, having real estate numbers 00091000.000000 and
00091020.000000; and the County transmitted a text amendment to create Policy 107.1.5
Key Largo Mixed Use Area 2, to Provide Limitations on Development and Specific
Restrictions; to accompany the FLUM amendment. FLUM is intended to resolve an
existing nonconformity.
• The County transmitted an amendment to revise the maximum net density standards in
Policy 101.5.25 for the Residential Low (RL) Future Land Use Map (FLUM) category.
The County also adopted the Monroe County Land Development Code to be consistent with the
Monroe County Year 2030 Comprehensive Plan. This code establishes the specific regulations to
implement the vision, goals, and policies of the updated 2030 Comprehensive Plan. The 580 plus
page Code would have become effective on August 16, 2016; however, during the appeal period,
a petition was filed with the State that challenged the State's Final Order regarding 6 words of
the code. It challenged Section 130-165 of the Code, which added a condition that in order to
aggregate development of two or more parcels, the development must be "located on contiguous
parcels of land". The challenge of these few words held up the effectiveness of the entire Land
Development Code. In November 2016, the petitioners, State and County agreed to settle the
matter by deleting the new text of "located on contiguous parcels of land" and the petitioners
voluntarily dismissed their case. As a result, the Land Development Code went into effect on
February 3, 2017.
The sanitary sewer or wastewater component of the 2010 Comprehensive Plan addresses an
unfunded mandate from the State to improve water quality in the Florida Keys by replacing
cesspits and septic systems with a series of central wastewater collection and treatment systems.
The County has completed most of its service areas, including the Cudj oe Regional project
which includes Upper and Lower Sugarloaf Keys, Summerland Key, Ramrod, Cudjoe and Big
Pine Keys. Construction of wastewater collection and transmission systems continues on Big and
Middle Torch Keys and No Name Key as well as the expansion of the Layton system to serve the
east and west ends of Long Key. Construction costs are presently expected to be approximately
$196 million.
To finance the project, the County has levied wastewater special assessments, obtained a state
grant, and obtained a Florida Department of Environmental Protection loan. The County also
entered into an interlocal agreement with the Key Largo Wastewater Treatment District to accept
the district's portion of the Mayfield Fund Grant. The County will repay the grant to the district
at no interest over the next ten years. The project's debt is collateralized by the local
infrastructure sales surtax and wastewater special assessments.
The County also issued revenue bonds in 2014 and 2016 to finance a number of capital projects
including the Cudj oe Regional Wastewater project, the construction of the Planation Key
courthouse and detention center, a Fire/Rescue Training Academy on Crawl Key, a library to
replace the existing facility in Marathon, to rehabilitate the Jefferson Browne Building in Key
West, and to refinance the outstanding 2003 Revenue Bonds and 2014 Line of Credit. The bonds
will be repaid from the One Cent Infrastructure Sales Surtax.
The County is balancing the use of ad valorem tax revenues with the maintenance of General
Fund reserves used to insulate the General Fund from revenue fluctuations due to disasters of
any kind and provide adequate working capital for operations. The Board continues to respond to
the ongoing economic conditions by maintaining rigorous cost controls, carefully analyzing the
need for each replacement or addition of staff positions, renegotiating contracts, and scrutinizing
the cost benefit of outside contractors. The Board continues to focus on its efforts to balance
costs and services to Monroe County citizens, with a relatively flat revenue base.
The County provides health care coverage for 420 retirees. The Board has reviewed estimates of
the unfunded cost for future years' benefits, and staff is developing strategies to manage the
financial impact to the County. As the actual versus expected cost of retiree health care coverage
is monitored, provisions of the plan may be modified as part of the management strategy.
Mai or Initiatives
As mentioned above, the County has an unfunded mandate from the State to improve water
quality in the Florida Keys by replacing cesspits and septic systems with a series of central
wastewater collection and treatment systems. These initiatives have been identified by location
and are as follows:
• The Big Coppitt Regional wastewater treatment system was completed in 2011. The
project was financed with a loan and grants from the Florida Department of
Environmental Protection, local sales tax revenues and assessments paid by property
owners in the area. This encompasses Big Coppitt Key, Geiger Key, Shark Key and
Rockland Key.
• The Cudjoe Regional wastewater system comprises a significant portion of the
wastewater project which began in fiscal year 2012. There is an Interlocal Agreement
M9
with the Florida Keys Aqueduct Authority (FKAA) for construction of the Cudjoe
Regional project. When completed, the FKAA will be the operator of the system.
• An expansion of the City of Layton wastewater systems, which is operated by the FKAA,
is underway to expand its service area to the residences at the east and west ends of Long
Key.
• Other completed projects include Bay Point, City of Layton, and Conch Key.
Expenditures for the Tourist Development Council increased almost 14% from the previous
fiscal year. The increased costs are funded by Tourist Development taxes.
Relevant Financial Policies
The County's financial policies conform to the requirements of Florida Statutes and accounting
principles generally accepted in the United States. As discussed in Note 1, the County adopted
four new statements of financial accounting standards issued by the Governmental Accounting
Standards Board (GASB):
• GASB Statement No. 72, Fair Value Measurement and Application, establishes standards
for fair value measurements, the level of fair value hierarchy, and valuation techniques.
• GASB Statement No. 73, Accounting and Financial Reporting for Pensions and Related
Assets that are not within the Scope of GASB Statement 68, and Amendments to Certain
Provisions of GASB Statements 67 and 68, improves the usefulness of information about
pensions included in financial reports for making decisions and assessing accountability.
• GASB Statement No. 76, The Hierarchy of Generally Accepted Accounting Principles
for State and Local Governments, reduces the GAAP hierarchy into two categories of
authoritative GAAP.
• GASB Statement No. 79, Certain External Investment Pools and Pool Participants.
Issued December 2015, addresses accounting and financial reporting for certain external
investment pools and pool participants.
In addition to the above, the County changed its presentation of the Monroe County, Florida
Volunteer Firefighter and Emergency Medical Services Length of Service Award Plan (LOSAP)
so it is reported in the County's General Fund rather than in a separate trust fund. This change
was made because it was determined that LOSAP has no assets accumulated in a trust that meets
the criteria outlined in GASB Statements 67 and 68.
Finally, the County is required to undergo an annual Single Audit in conformity with the
provisions of the Single Audit Amendments Act of 1996 and the United States Office of
Management and Budget's (OMB) Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards, which superseded OMB Circular A-133 and other
related documents during the fiscal year.
_•
Awards and Acknowledgments
The Government Finance Officers Association of the United States and Canada (GFOA)
awarded a Certificate of Achievement for Excellence in Financial Reporting to Monroe County,
Florida for its Comprehensive Annual Financial Report for the fiscal year ended September 30,
2015. This was the twenty-eighth consecutive year the government has achieved this prestigious
award.
In order to be awarded a Certificate of Achievement, a government must publish an easily
readable and efficiently organized comprehensive annual financial report. This report must
satisfy both U.S. generally accepted accounting principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. We believe that our current
comprehensive annual financial report 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.
The County also submits its budget document to GFOA, and has received GFOA's Distinguished
Budget Presentation Award for seventeen years.
This report is the product of the dedication of the Finance Department under the direction of the
Clerk of the Court of Monroe County as Auditor and Chief Financial Officer to the Board of
County Commissioners. During the fiscal year ended September 30, 2016, the Clerk was the
Honorable Amy Heavilin who served as Monroe County's Clerk from November 20, 2012
through January 2, 2017.
We would like to express our appreciation to the entire Finance Department and to other County
departments for their assistance in the preparation of this report. Special recognition goes to
Lanigan & Associates, P.C. We also extend our thanks and appreciation to our independent
auditor, Cherry Bekaert LLP, for its outstanding efforts and assistance. In closing, we thank the
County Commissioners for their interest and support throughout the year.
Sincerely,
Kevin Madok, CPA
Clerk of the Circuit Court & Comptroller
Chief Financial Officer
f,.
Pam dof, CPA
Monroe County
Finance Director
Certificate of
Achievement
for Excellence
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in Financial
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Financial Report
for the Fiscal Year Ended
Executive Director/CEO
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MONROE COUNTY, FLORIDA
GEORGE NEUGENT, MAYOR
DISTRICT 2
DANNY KOLHAGE HEATHER CARRUTHERS
DISTRICT I DISTRICT 3
DAVID RICE SYLVIA MURPHY
DISTRICT 4 DISTRICT 5
ROMAN GASTESI
COUNTY ADMINISTRATOR
KEVIN MADOK, CPA
CLERK OF THE CIRCUIT COURT AND
COMPTROLLER
*Ao% Cherry t"
J`, fr s
Report of Independent Auditor
To the Honorable Mayor and Board
of County Commissioners of
Monroe County, Florida:
Report on the Financial Statements
We have audited the accompanying 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 Monroe County, Florida (the "County"), as of and for the year ended September 30, 2016, and the
related notes to the financial statements, which collectively comprise the County's basic financial statements as
listed in the table of contents.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance
with accounting principles generally accepted in the United States of America; this includes 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.
Auditor's Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted our
audit in accordance with 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. Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial statements. The procedures selected depend on the auditor's judgment, including the assessment of
the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the County's preparation and fair presentation of
the financial statements 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 County's internal control. Accordingly, we
express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and
the reasonableness of significant accounting estimates made by management, as well as evaluating the overall
presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinions.
Opinions
In our opinion, the 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 County as of September 30, 2016,
and the respective changes in financial position, and, where applicable, cash flows thereof and the respective
budgetary comparison for the General Fund, Fine and Forfeiture Fund, HIDTA Grants Fund, and Governmental
Grants Fund for the year then ended in conformity with accounting principles generally accepted in the United
States of America.
B-1
Emphasis of Matter
Change in Accounting Principle
As discussed in Note 1 to the basic financial statements, the County adopted Governmental Accounting
Standards Board ("GASB") Statement No. 73, Accounting and Financial Reporting for Pensions and Related
Assets that are not within the Scope of GASB 68, and Amendments to Certain provisions of GASB Statements
67 and 68, beginning October 1, 2015. As a result, net position and pension liability as of September 30, 2015
has been restated. Our opinion is not modified with respect to this matter.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the Management's
Discussion and Analysis and the required supplementary information as listed in the table of contents be
presented to supplement the basic financial statements. Such information, 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 have applied certain limited procedures to this information in accordance
with auditing standards generally accepted in the United States of America, 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 and Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the County's basic financial statements. The introductory section, combining and individual fund
statements and schedules, statistical section and the schedule of receipts and expenditures of funds related to
the Deepwater Horizon oil spill, as listed in the foregoing table of contents, are presented for purposes of
additional analysis and are not a required part of the basic financial statements. The accompanying Schedule of
Expenditures of Federal Awards and State Financial Assistance Projects is presented for purposes of additional
analysis as required by Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards, and Chapter 10.550, Rules of
Auditor General, and are also not a required part of the basic financial statements.
The combining and individual fund statements and schedules and the Schedule of Expenditures of Federal
Awards and State Financial Assistance Projects and the schedule of receipts and expenditures of funds related
to the Deepwater Horizon oil spill are the responsibility of management and were derived from and relate
directly to the underlying accounting and other records used to prepare the basic financial statements. Such
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, this information is fairly stated in all material respects
in relation to the basic financial statements as a whole.
The introductory and statistical sections have not been subjected to the auditing procedures applied in the audit
of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on
them.
B-2
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated March 31, 2017, on
our consideration of the County'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 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 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 the County's internal control over financial reporting and compliance.
Orlando, Florida
March 31, 2017
B-3
Management's Discussion and Analysis
As Finance Department management, under the direction of the Chief Financial Officer and Clerk of the
Circuit Courts & Comptroller in Monroe County, we offer readers this narrative overview and analysis of
the financial activities of Monroe County Government (the County) for the fiscal year ended September
30, 2016. During fiscal year 2016, the Honorable Amy Heavilin served as the Clerk (term of office from
November 20, 2012 through January 2, 2017). In November 2016, Kevin Madok, CPA was elected as the
Monroe County Clerk of Circuit Courts & Comptroller and he began his administration on January 3,
2017.
We encourage readers to consider this information in conjunction with additional information furnished
in the letter of transmittal of the report and the basic financial statements for an overall view of the
County's activities.
Financial Highlights
The County's assets and deferred outflows of resources exceeded its liabilities and deferred inflows
of resources at September 30, 2016 by $588.8 million. Of this amount, $401.9 million represents
net investment in capital assets; $219.8 million is restricted for specific purposes (restricted net
position); and the remaining portion represents negative unrestricted net position of $32.9 million.
Unrestricted net position is negative primarily due to the implementation of GASB Statement No.
68 in FY 2015, for which continuing effects reduced governmental activities unrestricted net
position by $66.5 million and business -type activities by $2.7, for a total reduction of $69.2 million
at September 30, 2016. GASB Statement No. 68 requires the County to report on the face of the
financial statements the deferred inflows, deferred outflows and net pension liabilities for each of
the County's pension plans and the County's proportionate share of the Florida Retirement System
(FRS). This unfunded pension obligation will continue to negatively impact unrestricted net position
for future periods until all plans have been fully funded.
• Comparing FY 2016 with FY 2015, the results of governmental activities (excluding restatement)
produced an increase in net position of $50.8 million, while in FY 2015 net position increased by
$26 million (excluding restatement). We discuss key changes in net position later in this report.
• Comparing FY 2016 with FY 2015, the results of business -type activities (excluding restatement)
produced a decrease in net position of $2.1 million, while in FY 2015 net position increased by $4.1
million. We discuss key changes in net position later in this report.
• As of September 30, 2016 and 2015, the County's governmental funds reported combined ending
fund balances of $224.3 million and $211.8 million, respectively. Of the combined fund balance,
$15.5 million or 6.9% is available for spending at the County's discretion (unassigned balance).
• The County's general fund (primary operating fund) reported a total fund balance of $38.3 million,
an increase of $2.3 million from the prior year. This includes an $866 thousand restatement for
implementation of GASB Statement 73, Accounting and Financial Reporting of Pensions and
Related Assets that are not within the Scope of GASB Statement 68. The implementation of this
statement required the County to reclassify the Volunteer Firefighter and Emergency Medical
Services Length of Service Award Pension Plan from a fiduciary fund to the general fund.
C-1
• Bonded debt and loans of the County increased $29.3 million in FY 2016. This was comprised of
$50.6 million in new debt less $21.3 million in reductions (payments). The County's percentage of
bonded debt and loans compared to net position increased from 24.6% to 27.5%. The other
components of long-term debt are discussed in further detail later in this report.
Overview of the Financial Statements
This discussion and analysis is intended to serve as an introduction to the County's basic financial
statements, which include government -wide financial statements, fund financial statements, as well as
notes to the financial statements. This report also contains other supplementary information in addition
to the basic financial statements.
The chart below illustrates the components of the CAFR:
Components of the Comprehensive Annual Financial Report (CAFR)
Basic
Financial
;
Statements
and RSI
Letter of Transmittal and Other General Introduction
Information on the Government Section
Management Discussion and Analysis
Government -Wide Financial Statements
Governmental Fund Financial Statements
Proprietary Fund Financial Statements
Fiduciary Fund Financial Statements
Notes to the Financial Statements
Additional Required Supplementary Information
Information on Individual Funds and Other
Supplementary Information Not Required by
GAAP.
Trend Data and Nonfinancial Information
Government -Wide Financial Statements
Financial
Section
Statistical
Section
CAFR
The Government -wide Financial Statements are designed to provide the reader with a broad overview of
the financial position of the County, in a manner similar to private -sector business. They include a
Statement of Net Position and a Statement of Activities. These statements appear on pages D-1 through
D-4 of this report.
The Statement of Net Position presents information on all of the County's assets, deferred outflows of
resources, liabilities and deferred inflows of resources, with the difference 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 County is improving or deteriorating.
C-2
The Statement of Activities, which follows the Statement of Net Position, presents information showing
how the net position changed during fiscal year 2016. The statement presents all underlying events, which
contribute to the change, irrespective of the timing of the related cash flows. Thus, revenues and expenses
are reported in this statement for some items that will only affect cash flows in future fiscal periods (e.g.,
uncollected taxes, earned but unused vacation and medical leave.
Both of the aforementioned government -wide financial statements distinguish functions of the County
that are principally supported by taxes and intergovernmental revenues (governmental activities) from
other functions that are intended to recover all or a significant portion of their costs through user fees and
charges for services (business -type activities). The governmental activities reported in the statements
include general government, public safety, physical environment, transportation, economic environment,
human services, culture and recreation, and court related. The business -type activities include the
County's airports, solid waste and landfill operations, and the Card Sound Road and Toll Bridge.
The government -wide financial statements include not only the County itself (known as the primary
government) but also the operations of the Monroe County Comprehensive Plan Land Authority.
Financial information for this component unit is reported separately within the government -wide financial
statements from the financial information presented for the primary government.
Fund Financial Statements
A fund is a grouping of related accounts that is used to maintain control over resources that have been
segregated for specific activities or objectives. The County, like other state and local governments, uses
fund accounting to ensure and demonstrate compliance with finance -related legal requirements. All of
the funds of the County can be divided into three general categories: governmental, proprietary and
fiduciary funds.
Governmental Funds. Governmental Funds essentially account for the same functions as those reported
in the government -wide statements described above. However, unlike the government -wide statements,
this set of financial statements focuses on events that produce near -term inflows and outflows of spendable
resources available at the end of the fiscal year, which is a narrower focus than the government -wide
financial statements. Such information may be useful in evaluating the available spendable resources.
These statements appear on pages E-1 through E-16 of this report.
It can be useful to compare the information presented for the governmental funds with similar information
presented for governmental activities in the government -wide statements. Therefore, reconciliations are
provided as a link between both the governmental fund statements and the government -wide statements
to assist in this comparison.
The governmental fund financial statements present financial information for the County's general, special
revenue, debt service and capital proj ect funds. Governmental funds individually presented as maj or funds
in the County's statements include: the General Fund; three Special Revenue Funds: Fine and Forfeiture,
HIDTA Grants and Governmental Grants; the Debt Service fund; and three capital project funds: One
Cent Infrastructure Surtax, Big Coppitt Wastewater Project and Cudj oe Regional Wastewater Project.
There are many smaller governmental funds in the County. They have been presented in a total column
"Nonmajor Governmental Funds." These funds are presented individually in the combining and
individual fund statements section of the report.
C-3
Proprietary Funds. The County maintains two different types of proprietary funds, enterprise and
internal service. The proprietary fund statements appear on E-17 through E-26 of this report.
Enterprise funds are used to report business -type activities in the government -wide financial statements.
The County maintains five major enterprise funds: Municipal Service District -Waste, Key West Airport,
Card Sound Bridge, PFC & Operations Restrictions and the Marathon Airport. There are no non -major
enterprise funds.
Internal service funds are used to accumulate and allocate costs among the County's various functions.
The County uses internal service funds to account for insurance activities (worker's compensation, group
insurance and risk management) and fleet management activities. Internal service funds are presented in
total in the fund financial statements but may be reviewed individually in the combining and individual
fund statements section of the report. Because these services predominantly benefit governmental rather
than business -type functions, they have been included within the government -wide financial statements
as governmental activities. They are also combined into a single, aggregated presentation in the
proprietary fund financial statements.
Fiduciary Funds. The County uses fiduciary funds to account for resources held for the benefit of parties
outside of County government, such as assets held in trust and agency funds by the County as an agent
for individuals. Fiduciary funds are not reflected in the government -wide financial statements because
the resources of those funds are not available to support the County's own programs. The accounting used
for fiduciary funds is much like that used for proprietary funds. The fiduciary fund financial statement
appears on page E-27 of this report.
Notes to the Financial Statements
The notes to the financial statements provide additional information that is essential to a full understanding
of the data provided in both government -wide and fund financial statements. The notes commence on
page F-1 and continue throughout the entire F page section.
Other Information
Required Supplementary Information has been added for fiscal year 2016 for the FRS and HIS Pension
Plan and for the Volunteer Firefighters and Emergency Medical Services Pension Plan and is summarized
on pages G-1 through page G-7.
Combining and individual statements and schedules mentioned earlier, which present details of non-maj or
funds used in governmental and enterprise funds, commence on page H-1 and continue throughout the
entire H page section. This section also includes the budget to actual schedules, and statements for major
capital project, internal service and agency funds.
Additional information about the County can be found under the Statistical Section in the I page section
and the Single Audit Section in the J page section of this report.
ME
Government -Wide Financial Analysis
The County adopted the government -wide financial statement presentation. This reporting structure and
measurement focus using accrual accounting for all of the government's activities was mandated by the
Government Accounting Standards Board (GASB) in Statement No. 34, Basic Financial Statements - and
Management's Discussion and Analysis - for State and Local Governments. Comparative data for fiscal
years ending September 30, 2016 and 2015 is presented.
It is important to note that GASB Statement No. 68, Accounting and Financial Reporting for Pensions; an
amendment of GASB Statement No. 27, was implemented during fiscal year 2015. GASB Statement No.
68 requires governments that offer defined pension benefits to its employees to report on the face of its
financial statements the unfunded pension obligation (the "Net Pension Liability"). In the past, only the
unfunded portion of actuarial required contributions was shown in the financial statements.
The Net Pension Liability is recorded at the fund level for proprietary activities and the allocated amount
for governmental activities is presented at the government -wide level. The recording of the deferred
inflows, deferred outflows and net pension liabilities for each of the County's pension plans and the
County's proportionate share of the Florida Retirement System (FRS) negatively impacted the County's
unrestricted net position. The governmental fund -level statements are not affected by this pronouncement.
Monroe County Net Position (in thousands)
The following is a condensed summary of Net Position compared to the prior year.
Governmental
Activities
Business -type
Activities
Total Primary
Government
?n1F ?nl1 ) ?n1F ?nl1 ) ?n1F ?nl1 )
Current and Other Assets $ 298,005 $ 273,222 $ 32,210 $ 32,732 $ 330,215 $ 305,954
Capital Assets 480,382 431,514 83,423 85,161 563,805 516,675
Total Assets
778.387 704.73E 115 633 117.893 894.020 822 629
Deferred Outflows
40,155
11,241
1,572
428
41,727
11,669
Current Liabilities
29,411
39,696
2,172
2,656
31,583
42,352
Long -Term Liabilities
304,149
232,586
6,711
4,889
310,860
237,475
Total Liabilities
333,560
272,282
8,883
7,545
342,443
279,827
Deferred Inflows
Net Position:
Net Investment in Capital
Assets
Restricted
Unrestricted
Total Net Position
4,419 13,868 93 462 4,512 14,330
318,447
298,887
83,423
85,161
401,870
384,048
212,145
165,286
7,750
6,984
219,895
172,270
(50,029)
(34,346)
17,056
18,169
(32,973)
(16,177)
$ 480,563 $
429,827
$ 108,229 $
110,314
$ 588,792 $
540,141
C-5
The largest portion of net position for 2016 and 2015 is the County's net investment in capital assets (e.g.,
land and depreciated buildings, infrastructure and equipment), less any outstanding debt related to their
acquisition. This category represents 68.3% and 71.1% of total primary government net position for fiscal
years 2016 and 2015, respectively. The County uses these capital assets to provide services to citizens;
consequently, these assets are not available for future spending. Although the County's investment in
capital assets is reported net of related debt, it should be noted that 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.
The increase in capital assets reflects the County's ongoing commitment of resources to the wastewater
improvement construction and other projects that have an impact on the citizens of the County. The
County also continues to construct improvements to public facilities such as Plantation Key Courthouse
and Detention Center.
Total primary government net position above also includes restricted net position. Restricted net position
(37.3%) are resources subject to external restriction on how they may be used. The restrictions reported
for business -type activities are comprised of the landfill closure and post -closure costs and passenger
facility charges. Restrictions reported for governmental activities are special purpose funds which report
the use of resources as designated by external entities. The remaining component of net position is
unrestricted net position. Unrestricted net position may be used to meet the County's ongoing obligations
to citizens and creditors.
Comparison of Current Assets and Liabilities (in thousands)
A comparison of current assets to current liabilities for both governmental and business -type activities can
be a good indication of the County's ability to meet its current and existing operational responsibilities.
The ratios for the current and prior fiscal years are as follows:
Current Assets
Current Liabilities
Ratio of Current Assets to
Current Liabilities
Governmental
Activities
2016 2015
$ 298,005 $ 273,222
$ 29,411 $ 39,696
10.13 6.88
Business -type
Activities
2016 2015
$ 32,210 $ 32,732
$ 2,172 $ 2,656
14.83 12.32
The schedule above demonstrates that the County has more than adequate cash flows. In both cases, the
ratio improved in FY 2016.
Monroe County Changes in Net Position (in thousands)
The County restated fiscal year 2016 beginning net position for governmental activities with a $21,445
reduction. The restatement included an $865,891 increase due to the reclassification of the Volunteer
Firefighter and Emergency Medical Services Pension Plan Fiduciary Fund into the General Fund. This
was offset with a $887,336 reduction to record the total pension liability. More information on these
adjustments can be found in Note 23 on page F-56 of this report.
W
The table below summarizes the changes in net position for the current and previous year
Governmental
Business -type
Total Primary
Activities
Activities
Government
2016
2015
2016
2015
2016
2015
Revenues:
Charges for Services
$ 79,858 $
32,840
$ 27,518 $
26,943
$ 107,376
$ 59,783
Operating Grants and Contributions
20,714
32,045
2,903
5,997
23,617
38,042
Capital Grants and Contributions
9,559
16,272
1,525
1,362
11,084
17,634
General Revenues:
Property Taxes
75,464
75,323
-
-
75,464
75,323
Other Taxes
80,434
76,468
-
-
80,434
76,468
State Revenue Sharing
3,381
2,938
-
-
3,381
2,938
Investment Income
2,281
2,103
133
133
2,414
2,236
Miscellaneous
3,276
4,782
(18)
102
3,258
4,884
Total Revenues
274,967
242,771
32,061
34,537
307,028
277,308
Expenses:
General Government
35,557
34,493
-
-
35,557
34,493
Public Safety
107,153
99,118
-
-
107,153
99,118
Physical Environment
11,599
20,416
-
-
11,599
20,416
Transportation
7,694
4,968
-
-
7,694
4,968
Economic Environment
35,425
31,304
-
-
35,425
31,304
Human Services
9,247
9,117
-
-
9,247
9,117
Culture and Recreation
5,471
5,049
-
-
5,471
5,049
Court Related
9,859
9,042
-
-
9,859
9,042
Loss on Sale of Land
-
1,146
-
-
-
1,146
Interest on Long Term Debt
3,360
2,909
-
-
3,360
2,909
Solid Waste
-
-
18,147
17,445
18,147
17,445
Toll Bridge
-
-
1,528
1,352
1,528
1,352
Key West Airport
-
-
10,583
9,390
10,583
9,390
Marathon Airport
-
-
1,860
1,445
1,860
1,445
PFC Operations & Restrictions
-
-
873
-
873
-
Total Expenses
225,365
217,562
32,991
29,632
258,356
247,194
Change in Net Position before transfers
49,602
25,209
(930)
4,905
48,672
30,114
Transfers
1,155
797
(1,155)
(797)
-
-
Change in Net Position
50,757
26,006
(2,085)
4,108
48,672
30,114
Total Net Position -October 1
429,827
470,070
110,314
108,923
540,141
578,993
Adjustments to Net Position -October 1
(21)
(66,249)
-
(2,717)
(21)
(68,966)
Net Position -October 1 (as Restated)
429,806
403,821
110,314
106,206
540,120
510,027
Net Position - Ending $
480,563
$ 429,827
$ 108,229
$ 110,314
$ 588,792
$ 540,141
C-7
Total revenues exceeded total expenses in the current year, resulting in an increase in the County's total
net position of $48.7 million in FY 2016 compared to an increase in net position of $30.1 million during
FY 2015. The reasons for the overall increase are explained below in the governmental activities and
business type activities sections.
Governmental Activities
For FY 2016 net position of the governmental activities increased by $50.8 million, compared to an
increase of $26.0 million in FY 2015. The highlights for governmental activity revenue and expenses are
as follows:
Revenues
The County has been improving water quality by replacing cesspits and septic systems with a series
of central wastewater collection and treatment systems. The County has funded these projects with
state grants and loans, local infrastructure sales surtax and special assessments levied on the property
owners. During 2016, construction on the Cudj oe project was substantially completed which
allowed the County recognized revenue of $29.2 million for the special assessment associated with
this project. The County also recognized revenue of $10.7 million for the special assessment
proceeds received and reported as unearned revenue in prior years.
Tourist Development Taxes were $36.6 million in FY 2016, which was an increase of $2.2 million
or 6.2%. This increase was the result of an improved economy and greater use of hotels in the area.
Sales Taxes (1/2 Cent Sales Tax and One Cent Infrastructure Tax) were $31.9 million in FY 2016,
which was an increase of $1 million or 3.3%. This increase is primarily related to an improving
economy.
Operating and Capital Grants decreased by $18 million or 37.4%. Grants are nonrecurring in nature
and can fluctuate from year to year. However, the primary reason for the reduction in FY 2016 is
due to the Mayfield grant proceeds of $15.6 million received in FY 2015 as compared to $1.4 million
received in FY 2016. Administered by the Florida Department of Environmental Protection (DEP),
the Mayfield Grant was the result of the State of Florida authorizing up to $200 million in grant
funding to assist the Keys' wastewater entities to complete central sewer and related projects.
During FY 2015, the County received a settlement award for $1.1 million from the Deep Water
Horizon Economic Settlements Program as a result of lost business income from the 2010 British
Petroleum oil spill in the Gulf of Mexico. This was non -recurring other income that was reported
in FY 2015 but not in FY 2016.
Expenses
In FY 2015, Monroe County and Key Largo Wastewater Treatment District (KLWTD) entered into
an "inter -local agreement" (ILA) whereby KLWTD "assigned" its Mayfield grant allocation
funding to Monroe County in exchange for the County repaying those funds over a 10 year period.
The County reported a non -recurring interlocal agreement expense for $15.6 million, which
represents funding the County is obligated to pay KLWTD as a result of the ILA. This transaction
is discussed in more detail in Note 14 of the basic financial statements.
In FY 2015, the County sold land ("Hickory House") to a developer for $2.0 million, resulting in a
loss of $1.1 million. This was non -recurring expense that was reported in the statement of activities
in FY 2015 but not in FY 2016.
NN
Expenses - continued
• Pension related expenses, resulting in the change of deferred inflow of resources, deferred outflow
of resources, and the net pension liabilities, increased by $10.3 million in FY 2016.
• Depreciation expense reported in governmental activities increased by $1.5 million in FY 2016.
• Advertising, promotion, and operating expenses associated with tourism development increased by
$4.2 million in FY 2016.
• Public safety operational expenses (not capitalized) increased by $2.6 million.
• Physical environment expenses (not capitalized) associated with the wasterwater treatment and
other projects increased by $5.2 million.
The graph below represents a comparison of program revenues to program expenses for governmental
activities for fiscal year 2016. It is apparent from these graphs that general revenues were required to
cover expenses for most of the functions noted.
120,;
1.4:3 A
iOD, 0
80 r
6W)
f [ 0
%5.5
SL5 9
M. O
15,0
�J
-=
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e;Ier-'I,p
Publk 3ak `7
Gr art.'. rIii iPIY:i
Monroe County, Florida
Governmental Activities (in Millions)
For the year ended September 30, 201
473
35.E
11.6
7'.7
9.2
9'.9
10
N
OA 17
5.5
03
5A
.
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The largest revenue sources for governmental activities in FY 2016 are property taxes in the amount of
$75.5 million and all other taxes totaling $80.4 million. Total taxes of $155.9 million amounted to 56.7%
of the County's governmental activity revenues excluding transfers. The second largest revenue source is
charges for services at $79.9 million or 29% of governmental activity revenues excluding transfers.
The 2016 graph identifies the largest expense function as public safety, amounting to $107.1 million. This
is 47.6% of the total expenses for governmental activities. The next largest functions are general
government and economic environment that total $71 million or 31.5% of total expenses for governmental
activities. The general government expenses include the Tax Collector, Property Appraiser, Clerk of the
Circuit Court, and the Supervisor of Elections.
W
The graph below represents a comparison of program revenues to program expenses for governmental
activities for fiscal year 2015.
Monroe County, Florida
Governmental Activities (in Millions)
For the year ended September 30, 2015
MI
100.0
90.0
80.0
70.0
60.0
50.0
40.0
34.5
36.9
31.3
30.0
1
18.920.4
20.0
12.6
�`
9.1
10.0
1
2.0 5.0
0.6
1.3
0.0
ME
General
Public Safety
Physical
Transportation Economic
Human
Government
Environment
Environment
Services
UM Program Revenues 0 Program Expenses
Culture & Court Related
Recreation
The largest revenue sources for governmental activities in 2015 are property taxes in the amount of $75.3
million and all other taxes totaling $76.5 million. Total taxes of $151.8 million amounted to 62.5% of the
County's governmental activity revenues excluding transfers. The second largest revenue source is charges
for services at $32.8 million or 13.5% of governmental activity revenues excluding transfers.
The 2015 graph identifies the largest expense function as public safety, amounting to $99.1 million. This
is 45.6% of the total expenses for governmental activities. The next largest functions are general
government and economic environment that total $65.8 million or 30.2% of total expenses for
governmental activities. The general government expenses include the Tax Collector, Property Appraiser,
Clerk of the Circuit Court, and the Supervisor of Elections.
Business -Type Activities
The purpose of proprietary funds is to recover the majority of costs incurred in providing a service through
user fees and charges for that service. Charges for services revenues in 2016 amounted to $27.5 million
or 85.8% of all revenue sources. Other revenue sources include operating grants, capital grants,
contributions, investment income, and miscellaneous. Total revenues (excluding transfers from other
funds) were less than total expenses (excluding transfers to other funds) by $930,221.
The reduction in net position in 2016 was $2.1 million. Fiscal year 2016 had a decrease of $2.9 million
in capital and operating grants, but an increase in charges for services of $575,165.
C-10
Financial Analysis of Monroe County's Funds
Governmental Funds
Governmental funds provide information on near -term inflows, outflows, and balances of spendable
resources. In assessing the County's financing requirements, unassigned fund balance represents the
County's net resources available for spending at the end of the fiscal year. The governmental fund types
include the general fund, special revenue, debt service and capital project funds.
The County's governmental funds reported combined fund balances of $224.3 million at the end of the
current fiscal year. This represents a $12.5 million or 5.9% increase (including restatement) from prior
year. Governmental funds held nonspendable, restricted, committed or assigned amounts totaling $208.8
million to reflect the various constraints placed on those resources for future use.
The General Fund is the chief operating fund of the County. At September 30, 2016, the total fund balance
in the General Fund was $38.3 million, an increase of $2.3 million from the prior year (including
restatement). The unassigned portion of the General Fund fund balance was $15.5 million or 40.5%.
Revenue from taxes decreased by $2.2 million in the general fund. The County allocated a larger portion
of Ad Valorem taxes to the fines and forfeiture fund. Intergovernmental revenues increased by $3.4
million. Expenditures increased by $1.8 million or 2.2%.
Other Major Fund Information (in thousands)
Fine and Fofeiture
2016 2015
HIDTA Grants
2016 2015
Governmental Grants
2016 2015
Revenues and Other
Sources S 54,874 S 47,628 S 19,844 S 19,976 S 8,062 S 6,323
Expenses and Other Uses 52,457 48,635 19,844 19,976 6,977 8,650
Increase/(Decrease) in
Fund balance S 2,417 S (1,007) S S S 1,085 S (2,327)
One Cent
Infrastructure Surtax
201E Ml5
Revenues and Other
Big Coppitt Wastewater
Project
201E 2015
Sources $ 25,471 $ 23,936 $ 451 $ 400
Expenses and Other Uses 28,830 14,446 2,715 716
Increase/(Decrease) in
Fund balance $ (3,359) $ 9,490 $ (2,264) $ (316)
Cudjoe Regional Wastewater
Activities Debt Service
2016 2015 2016 2015
Revenues and Other
Sources $ 46,879 $ 64,807 $ 22,658 $ 12,637
Expenses and Other Uses 41,678 54,474 22,778 12,155
Increase/(Decrease) in
Fund balance $ 5,22.01 $ 10,333 $ (120) $ 482
C-11
Fine and Forfeiture Special Revenue Fund Revenue for this fund increased by $4.5 million or 9.8% as
a result of an increase in Ad Valorem taxes and charges for services. Total operating expenses in this fund
were up slightly as were transfers to other funds. In comparing the FY 2016 change in fund balance to FY
2015, there was a $2.4 million improvement.
HIDTA Grants Special Revenue Fund This fund is used to account for reimbursement grants funded by
the U.S. Department of Justice to fight drug trafficking. The volume of revenues and expenditures has not
significantly changed as programs established by the grantor have been continued.
Governmental Grants Special Revenue Fund The fiscal year 2016 revenue increased in the area of
intergovernmental activity as a result of more federal and state grants. The reduction in expenses were due
to the completion of No Name Key Bridge and other large projects in FY 2015.
One Cent Infrastructure Surtax Capital Project Fund The County voted during the 2012 general election
to extend the surtax expiration date from 2018 to 2033. This is similar to the State shared revenues based
on sales tax; the trend for this receipt has been growing each year. The revenue source will be used to fund
on -going capital projects.
Big Coppitt Wastewater Project Capital Project Fund Revenues decreased approximately 12.8% over
prior year. Expenditures were consistent with the prior year.
Cudj oe Regional Wastewater Capital Project Fund This fund is used to account for the activity associated
with the County's commitment to construct collection, transmission and treatment facilities. In 2016, the
treatment plant was constructed and a majority of the collection system was installed. Some of the
financial highlights include the following:
• Total revenues and other sources increased by $17.9 million or 27.6%. The funding sources for
this project primarily include:
o Mayfield Grant: Inter -local agreement with Key Largo Wastewater Treatment District
o Clean Water State Revolving Fund Construction Loan
o Infrastructure Revenue Bonds Series 2014
o Infrastructure Revenue Bonds Series 2016
o Special Assessments
Total expenses and other souces (uses) decreased by $12.8 million or 23.5%. Expense activity was
related to wastewater construction projects.
Debt Service The debt service fund received transfers from other funds to cover $6.8 million in principal
and interest payments on long-term debt. Infrastructure revenue bonds were issued, the proceeds of which
were used to refund the $16 million line of credit.
Proprietary Funds
Proprietary fund statements provide the same information as in the business -type activities column of the
government -wide statements, but in greater detail and on a fund basis for enterprise funds and internal
service funds.
Municipal Service District -Waste Enterprise Fund: This fund maintains the County's landfills and transfer
sites. The County continues to outsource the waste haul -out services through a major contract. Revenues
for charges for services (special assessments and tipping fees) had very little change over the prior year.
The cost of operations remained consistent with the prior year.
C-12
Card Sound Bridge Enterprise Fund: The Bridge is an alternative route to the "Eighteen Mile Stretch."
Revenues from tolls increased slightly as tourism rebounds somewhat. The cost of operations remained
consistent with the prior year.
Key West Airport Enterprise Fund: Revenue increased slightly in charges for services. Operational
expenses increased by 12.2% as compared to FY 2015.
PFC & Operations Restrictions: This fund is used to collect passenger finance charges to be used for
capital expenditures related to the County's airports. Historically, the activity of this fund was reported
as part of the Key West Airport Enterprise Fund. During fiscal year ending 2016, this fund had a $1.1
million increase to the net position.
Marathon Airport Enterprise Fund: This fund experienced a relatively stable year.
Other factors concerning the finances of these four major funds have already been addressed in the
discussion of the County's business -type activities.
The internal service funds include the Worker's Compensation Fund, Group Insurance Fund, Risk
Management Fund and the Fleet Management Fund. The self-insurance funds are an important part of
the County's operations.
Internal service fund operating revenues were consistent with prior year except the Group Insurance fund,
which experienced an increase. Operating expenses in this same fund rose due to higher asserted and paid
claims.
Capital Assets
The County's financial statements present capital assets in two categories: those assets subject to
depreciation, such as buildings, infrastructure, and equipment and those not subject to depreciation such
as land and construction in progress. At September 30, 2016, the County has $563.8 million invested in a
variety of capital assets, as reflected in the following schedule, which represents a net increase (additions
less retirements and depreciation) of $47.1 million or 9.1% from the end of last year.
Land
Construction In Prog.
Buildings
Equipment
Infrastructure
Capacity Rights
MONROE COUNTY, FLORIDA
CAPITAL ASSETS (IN THOUSANDS)
NET OF DEPRECIATION
Governmental Activities
2016
2015
$ 74,767
$ 74,316
46,919
153,949
100,266
100,675
29,952
27,061
225,710
72,713
2,768
2,800
Business-tvne Activities
2016
2015
$ 5,648
$ 5,648
975
1,729
43,445
43,194
1,131
1,093
32,224
33,497
Total
2016
2015
$ 80,415
$ 79,964
47,894
155,678
143,711
143,869
31,083
28,154
257,934
106,210
2,768
2,800
Total S 480,382 S 431,514 S 83,423 S 85,161 S 563,805 S 516,675
C-13
The investment in capital assets includes land, buildings, improvements, machinery and equipment, plant
and equipment, infrastructure, roads, bike paths and sidewalks. Major capital asset events during the year
included:
• The County's primary focus for general government capital assets is the construction of its
wastewater collection systems and solid waste disposal. During FY 2016 a portion of these projects
totaling over $144 million were capitalized.
• Roadway and drainage improvement for the Lake Surprise subdivision for almost $2.4 million.
• Completion of repairs to the No Name Key Bridge project totaling $4.2 million.
• Completion of the Customs and Border Protection facility at the Florida Keys Marathon
International Airport in the amount of $1.7 million.
• Continued work on the design and implementation of the County's canal restoration program for
approximately $5.4 million.
• Approximately $9.9 million in equipment (public safety and other departments), vehicles,
computers, and furniture including a $2.5 million investment in a second Trauma Star helicopter.
Ongoing significant projects include the following: Cudj oe Regional Wastewater, Canal Restoration
Program, Bernstein Park, Old 7 Mile Bridge, Summerland and Sugarloaf Fire Stations, and Plantation Key
Courthouse and Detention Center.
Additional information on the County's capital assets can be found in Note 7 on pages F-21 to F-22.
Long -Term Debt
At September 30, 2016, the County had long-term debt in the amount of $321.5 million. This debt is
mainly comprised of revenue bonds and notes secured by pledges of revenues. Revenue -secured debt for
governmental activities was $161.9 million. The County has no general obligation bonds.
Additions to long-term debt consisted of the following:
• Infrastructure Revenue Bonds Series 2016 - $16.1 million (used to refund the line of credit)
• Clean Water State Revolving Fund Construction Loan Agreement 2014 - $33.1 million
• Inter -local agreement with Key Largo Wastewater Treatment District - $1.4 million
• Increases to accrued compensated absences - $7.1 million
• Increases in the other post -employment benefits liability - $5.5 million
• Increases in the County's proportionate share of FRS and HIS pension liability - $54 million
• Increases in the County's LOSAP pension liability - $58,397
Retirements of long-term debt and other reductions amounted to $40.8 million, which included the
retirement of $16.0 million of line of credit.
Moody's Investors Service rates the County's Infrastructure Sales Surtax Revenue Bonds, Series 2007,
2014 and 2016 as "Al". Standard and Poor's Ratings Services have rated these issues "A+". Further
details about long-term debt are available in notes to the financial statements pages F-41 through F-46.
C-14
Budgetary Highlights — General Fund
There were slight variations from the original budget to the amended budget for miscellaneous revenues,
taxes, charges for services, and investment income. The more significant variations from the amended
budget to the actual were the following:
• Clerk Commissions and Fees as well as Court Related Costs were less than anticipated.
• Public Works Facility Maintenance was under budget in various categories.
• Property Appraiser and Supervisor of Elections were both under budget for fiscal year 2016.
• Hurricane budget was not needed in fiscal year 2016.
• Transportation and Human Services expenditures were down.
Economic Factors and Next Year's Budgets and Rates
The County's short and long-term goals and policies are developed during the budget process each
year. The BOCC discusses trends, capital projects and policy priorities at public meetings held during the
budget planning phase. These priorities are further refined, clarified and adopted during the budget
preparation. The fiscal year 2016 budget was developed in consideration of the economic stabilization
being experienced and the resulting moderate increases to sales tax revenues. The financial outlook for
the County remains sound. There is a modest rebounding of property values, slow gains in consumer
spending and low unemployment. Revenues from tourism, our main economic resource, continue to
reflect increases.
Total budgeted revenues/sources increased between 2015 and 2016. The increase in the overall budget is
attributable to major infrastructure and capital projects. The largest revenue source of the County's
General Fund is ad valorem taxes. The aggregate millage rate for 2016 is 3.7239 which is 5.5% under last
year's rate of 3.986 and .03% below the rolled -backed millage rate of 3.725. After property taxes, the
Local Government Half -Cent Sales Tax is the largest revenue source in the General Fund; an increase of
approximately 9.1% is expected. Licenses and Permits are expected to increase 3% in the coming year
due to the adoption of a new building fee schedule. The new permit fees are calculated based upon the
construction value of the proposed improvements.
Budgeted expenditures have increased, particularly in the Physical Environment and Transportation
categories. Expenditures for capital projects are ongoing. Significant capital projects include the
following:
• Construction of the Cudjoe Regional Wastewater system
• Canal master plan
• Roadway and drainage improvement projects for Grouper Lane drainage, Lake Surprise Estates
roadway and Sexton Cove Estates roadway
• Bernstein Park — Stock Island
• Summerland Fire Station
• East Martello Museum renovation
• Key West International Airport Custom and Border facility expansion
• Higgs Beach -Atlantic Boulevard Project
• Training Academy — Crawl Key
• Big Pine Swimming Hole
• Plantation Key Courthouse and Detention Center
• Roads/Paving County -wide
C-15
Tourism revenues are very important to the Keys' economic health, and the County will continue to
advertise the Keys as a tourist destination.
Requests for Information
This financial report is designed to provide a general overview of the County's finances for all those with
an interest in its finances. Questions concerning any of the information provided in this report or requests
for additional information should be addressed to the Finance Director, Clerk of the Courts & Comptroller,
500 Whitehead Street, Key West, Florida 33040.
C-16
BASIC FINANCIAL STATEMENTS
MONROE COUNTY, FLORIDA
STATEMENT OF NET POSITION
SEPTEMBER 30, 2016
Primary Government
Component Unit
Monroe County
Governmental
Business -Type
Comprehensive
Activities
Activities
Total
Plan Land Authority
ASSETS
Current Assets:
Cash and Cash Equivalents
$ 99,872,935
$ 6,646,104 $
106,519,039
$ 9,013,287
Investments
146, 402,194
18, 393, 821
164, 796, 015
-
Accounts Receivable, Net
1,624,722
596,944
2,221,666
-
Assessments Receivable
33,442,902
-
33,442,902
-
Internal Balances
1,921,691
(1,921,691)
-
-
Due from Other Governmental Units
9,596,617
469,308
10,065,925
620,759
Advances from Other Governments
4,785,277
-
4,785,277
-
Interest Receivable
355,163
43,066
398,229
-
Inventory
3,728
-
3,728
-
Total Current Assets
298,005,229
24,227,552
322,232,781
9,634,046
Noncurrent Assets:
Restricted Cash and Cash Equivalents
-
7,785,375
7,785,375
-
Restricted Accounts Receivable
-
197,041
197,041
-
Mortgage/ Notes Receivable
8,973,379
-
8,973,379
9,151,579
Allowance for Mortgage/ Notes Receivable
(8,973,379)
-
(8,973,379)
-
Land and Other Nondepreciable Assets
121,686,875
6,622,910
128,309,785
27,694,394
Other Capital Assets, Net of Accum Deprec
358,694,884
76,800,380
435,495,264
12,507,392
Total Noncurrent Assets
480,381,759
91,405,706
571,787,465
49,353,365
Total Assets 778,386,988 115,633,258 894,020,246 58,987,411
DEFERRED OUTFLOWS OF RESOURCES
Related to Pensions 40,155,088 1,572,321 41,727,409 73,576
LIABILITIES
Current Liabilities:
Accounts Payable
Retainage Payable
Accrued Wages and Benefits Payable
Claims and Judgments Payable
Due to Other Governmental Units
Accrued Compensated Absences Payable
Other Current Liabilities
Deposits in Escrow
Unearned Revenue
Accrued Interest Payable
Revenue Notes Payable
Revenue Bonds Payable
Mayfield Interlocal Agreement
Total Current Liabilities
10, 948, 866
1,951,027
12, 899, 893
316,045
687,617
40,677
728,294
-
1,705,448
-
1,705,448
13,957
1,700,361
-
1,700,361
-
2,789,201
18,692
2,807,893
-
2,331,832
77,942
2,409,774
13,221
10,531
498
11,029
-
162,295
66,471
228,766
-
-
17,085
17,085
-
541,482
-
541,482
-
477, 373
-
477,373
-
7,056,091
-
7,056,091
-
1,000,000
-
1,000,000
-
29, 411, 097
2,172, 392
31, 583, 489
343,223
(Continued)
The notes to the financial statements are an integral part of this statement.
D-1
MONROE COUNTY, FLORIDA
STATEMENT OF NET POSITION - CONTINUED
SEPTEMBER 30, 2016
Noncurrent Liabilities:
Landfill Closure/Postclosure Payable
Accrued Compensated Absences Payable
Claims and Judgments Payable
Revenue Notes Payable
Revenue Bonds Payable
Mayfield Interlocal Agreement
Line of Credit
Other Liabilities
OPEB Liability
Net Pension Liability
Total Noncurrent Liabilities
Total Liabilities
Primary Government Component Unit
Monroe County
Governmental Business -Type Comprehensive
Activities Activities Total Plan Land Authority
-
175,531 175,531 -
9,327,328
311,762 9,639,090 48,237
-
129,632 129,632 -
91,607,747
- 91,607,747 -
46, 793, 045
- 46, 793, 045 -
15, 000, 000
- 15, 000, 000 -
200,000
- 200,000 -
38, 066, 692
1,862,341 39, 929, 033 -
103,153,803
4,231,566 107,385,369 197,800
304,148,615
6,710,832 310,859,447 246,037
333,559,712 8,883,224 342,442,936 589,260
DEFERRED INFLOWS OF RESOURCES
Related to Pensions 4,335,422
Advances from Other Governments 83,541
Total Deferred Inflows of Resources 4,418,963
NET POSITION
Net Investment in Capital Assets
Restricted:
Public Safety
Physical Environment
Transportation
Economic Environment
Land Authority
Court Programs
Human Services
Cultural and Recreation
General
Landfill Closure and Post Closure
Capital Projects
Debt Service
Unrestricted
Total Net Position
93,437 4,428,859 6,604
- 83,541 -
93,437 4,512,400 6,604
318,447,503
83,423,290 401,870,793 40,201,786
40,931,640
- 40,931,640 -
77, 344, 951
- 77, 344, 951 -
14, 353, 888
5,982,899 20, 336, 787 -
31,299,399
- 31,299,399 -
1 935 202
7,480,606
- 7,480,606
2,502,300
- 2,502,300 -
2,971,196
- 2,971,196 -
2,311,428
- 2,311,428 -
-
1,766,307 1,766,307 -
30,925,637
- 30,925,637
2,023,997
- 2,023,997 -
(50, 029,144)
17, 056, 422 (32, 972, 722) 16, 328,135
$ 480,563,401
$ 108,228,918 $ 588,792,319 $ 58,465,123
D-2
Functions/Programs
Primary government:
Governmental activities:
General Government
Public Safety
Physical Environment
Transportation
Economic Environment
Human Services
Culture and Recreation
Court Related
Interest on Long -Term Debt
Total governmental activities
Business -type activities:
Solid Waste
Toll Bridge
Key West Airport
Marathon Airport
PFC Operations & Restictions
Total business -type activities
Total primary government
MONROE COUNTY, FLORIDA
STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Program Revenues
Operating Capital
Charges for Grants and Grants and
Expenses Services Contributions Contributions
$ 35,557,069 $
14,981,927 $
- $
-
107,153,098
16,036,534
15,280,478
5,584,541
11,598,822
43,747,897
2,369,623
1,608,862
7,693,769
229,598
419,486
2,348,473
35,425,413
24,245
390,607
-
9,247,469
265,740
1,441,282
-
5,471,494
192,799
128,914
17,150
9,858,508
4,379,726
683,755
-
3,359,908
-
-
-
225,365,550
79,858,466
20,714,145
9,559,026
18,146,600
18,269,048
181,818
1,528,494
1,148, 222
- -
10,582,895
7,131,456
1,263,595 169,928
1,859,845
968,966
670,031 -
873,420
-
787,095 1,355,386
32,991,254
27,517,692
2,902,539 1,525,314
$ 258,356,804 $ 107,376,158 $ 23,616,684 $ 11,084,340
General Revenues:
Taxes:
Ad Valorem Taxes
Tourist Impact Tax
Gas Tax
1/2 Cent Sales Tax
One Cent Infrastructure Tax
Tourist Development Tax
Other Taxes
Other St. Shared Rev, Unrestricted
Investment Income
Settlements, Insurance Recoveries,
Donations, and Other Income
Transfers
Total General Revenues and Transfers
Change in Net Position
Total Net Position - October 1
Adjustments to Net Position - October 1
Total Net Position - October 1 (as Restated)
Total Net Position - Ending
The notes to the financial statements are an integral part of these statements.
(Continued)
D-3
Net (Expense) Revenue and Changes in Net Position
Primary Government Component Unit
Monroe County
Governmental Business -type Comprehensive
Activities Activities Total Plan Land Authority
$ (20,575,142) $
- $ (20,575,142) $ (406,330)
(70,251,545)
- (70,251,545) -
36,127,560
- 36,127,560 -
(4,696,212)
- (4,696,212) -
(35,010,561)
- (35,010,561) -
(7,540,447)
- (7,540,447) -
(5,132,631)
- (5,132,631) -
(4,795,027)
- (4,795,027) -
(3,359,908)
- (3,359,908) -
(115,233,913)
- (115,233,913) (406,330)
- 304,266
304,266 -
- (380,272)
(380,272) -
- (2,017,916)
(2,017,916) -
- (220,848)
(220,848) -
- 1,269,061
1,269,061 -
- (1,045,709)
(1,045,709) -
(115,233,913) (1,045,709) (116,279,622) (406,330)
75,463,966
- 75,463,966 5,251,004
4,579,158
- 4,579,158 -
6,180,346
- 6,180,346 -
11,092,027
- 11,092,027 -
20,817,676
- 20,817,676 -
36,633,260
- 36,633,260 -
1,131,692
- 1,131,692 -
3,381,168
- 3,381,168 -
2,280,811
133,972 2,414,783 82,572
3,276,417 (18,484) 3,257,933 -
1,155,026 (1,155,026) - -
165,991,547 (1,039,538) 164,952,009 5,333,576
50,757,634 (2,085,247) 48,672,387 4,927,246
429, 827, 212 110, 314,165 540,141, 377 53, 537, 877
(21,445) - (21,445) -
429,805,767 110,314,165 540,119,932 53,537,877
$ 480,563,401 $ 108,228,918 $ 588,792,319 $ 58,465,123
D-4
MONROE COUNTY, FLORIDA
BALANCE SHEET
GOVERNMENTAL FUNDS
SEPTEMBER 30, 2016
ASSETS
Cash and Cash Equivalents
Investments
Accounts Receivable, Net
Assessments Receivable
Due from Other Funds
Due from Other Governmental Units
Mortgages/Notes Receivable
Allowance for Mortgages/Notes Receivable
Advances from Other Governments
Interest Receivable
Inventory
Total Assets
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities:
Accounts Payable
Retainage Payable
Accrued Wages and Benefits Payable
Due to Other Funds
Due to Other Governmental Units
Other Current Liabilities
Deposits in Escrow
Total Liabilities
Deferred Inflows of Resources:
Advances from Other Governments
Unavailable Revenues
Total Deferred Inflows of Resources
Fund Balances:
Nonspendable
Restricted
Committed
Assigned
Unassigned
Total Fund Balances
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances
Fine & HIDTA Governmental
General Forfeiture Grants Grants
$ 19,622,491
$ 19,402,157
$ 678,921
$ 449,092
17,884,349
4,359,127
-
1,684,478
167,897
1,366,050
13,461
261
9,711,040
1,523,202
-
55,733
594,997
278,230
2,434,522
2,540,750
-
-
-
496,531
-
-
-
(496,531)
60,709
5,891
-
4,737
3,728
-
-
-
$ 48,045,211
$ 26,934,657
$ 3,126,904
$ 4,735,051
$ 3,214,172
$ 46,675
$ 1,037,903 $
875,688
-
-
-
129,951
1,561,569
-
135,304
-
3,794,646
9,324,829
773,825
-
1,186,967
33,032
1,179,872
80,976
9,202
-
-
-
5,410
-
-
-
9,771,966
9,404,536
3,126,904
1,086,615
- - - 83,541
- 770,063 - 1,945,135
- 770,063 - 2,028,676
3,728 - - -
- 16,760,058 - 1,619,760
10,000,000 - - -
12,779,394 - - -
15,490,123 - - -
38,273,245 16,760,058 - 1,619,760
$ 48,045,211 $ 26,934,657 $ 3,126,904 $ 4,735,051
The notes to the financial statements are an integral part of these statements.
E-1
One Cent
Big Coppitt
Cudjoe Regional
Nonmajor
Total
Infrastructure
Wastewater
Wastewater All
Governmental
Governmental
Surtax
Project
Project Debt Service
Funds
Funds
$ 2,995,777 $
294,925 $
4,982,112 $
1,354,731
$ 45,452,622
$ 95,232,828
16,801,203
2,180,303
6,454,537
1,271,898
78,440,250
129,076,145
80
-
-
-
61,811
1,609,560
-
2,711,284
29,883,019
-
848,599
33,442,902
3,668,413
13,614
6,415,809
-
2,616,701
24,004,512
1,590,224
-
-
-
2,063,159
9,501,882
-
-
-
-
8,476,848
8,973,379
-
-
-
-
(8,476,848)
(8,973,379)
-
-
4,785,277
-
-
4,785,277
37,879
5,433
10,687
3,850
176,209
305,395
-
-
-
-
-
3,728
$ 25,093,576 $
5,205,559 $
52,531,441 $
2,630,479
$ 129,659,351
$ 297,962,229
$ 1,088,680 $ 4,587 $
5,027 $
65,000 $ 2,918,422 $
9,256,154
395,055 -
-
- 162,611
687,617
- -
-
- -
1,696,873
- 2,256,718
15,295
- 7,492,278
23,657,591
65 -
609
- 307,394
2,788,915
- -
-
- 1,329
10,531
- -
-
- 156,885
162,295
1,483,800 2,261,305
20,931
65,000 11,038,919
38,259,976
- - - - - 83,541
- 2,598,799 29,164,669 - 845,512 35,324,178
- 2,598,799 29,164,669 - 845,512 35,407,719
- - - - - 3,728
23,609,776 345,455 23,345,841 2,565,479 109,115,978 177,362,347
- - - - 3,382,205 13,382,205
- - - - 5,276,737 18,056,131
- - - - - 15,490,123
23,609,776 345,455 23,345,841 2,565,479 117,774,920 224,294,534
$ 25,093,576 $ 5,205,559 $ 52,531,441 $ 2,630,479 $ 129,659,351 $ 297,962,229
E-2
MONROE COUNTY, FLORIDA
RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO THE
STATEMENT OF NET POSITION
SEPTEMBER 30, 2016
Amounts reported for governmental activities in the statement of net position are different because:
Ending fund balance - governmental funds $ 224,294,534
Capital assets used in governmental activities are not financial resources
and, therefore, are not reported in the governmental funds, net of
accumulated depreciation of $147,657,813. 479,489,674
Deferred outflows and inflows of resources are not available in the current
period and, therefore, are not reported in the governmental funds. Deferred
outflows and inflows of resources at year-end consist of:
Deferred outflows related to pension liabilities $ 39,738,194
Deferred inflows related to pension liabilities (4,312,333)
Total 35,425,861
Unavailable revenue related to the wastewater assessment is deferred in the
governmental funds but not in the government -wide financial statements. 35,324,178
Other liability related to a certain legal claim is not reported in governmental
funds as current financial resources are not used (see note 21). (200,000)
Long-term liabilities are not due and payable in the current period and,
therefore, are not reported in the funds.
Revenue Bonds Payable
(53,849,136)
Revenue Notes Payable
(92,085,120)
Mayfield Interlocal Loan Agreement
(16,000,000)
OPEB Liability
(37,100,413)
Net Pension Liability
(101,964,113)
Accrued Interest Payable
(541,482)
Accrued Compensated Absences
(11,524,451)
Total
(313,064,715)
The assets and liabilities of the internal service funds (funds are used to
charge the costs of insurance and fleet maintenance activities to individual
funds) are not reported in the governmental funds. 19,293,869
Net position of governmental activities $ 480,563,401
The notes to the financial statements are an integral part of this statement.
E-3
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Taxes
Licenses and Permits
Intergovernmental
Charges for Services
Fines and Forfeitures
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
General Government
Public Safety
Physical Environment
Transportation
Economic Environment
Human Services
Culture and Recreation
Court Related
Capital Projects
Debt Service
Principal -Refunded Debt
Principal
Interest
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Transfers from Other Funds
Transfers to Other Funds
Refunding Bonds Issued
Issuance of Debt
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances -October 1
Restatement
Fund Balances -October 1, restated
Fund Balances -September 30
Fine & HIDTA Governmental
General Forfeiture Grants Grants
$ 21,002,833
$ 43,898,743 $ - $
-
12,150,229
84,096 19,844,335
6,943,750
4,181,371
6,167,991 -
128,750
8,387
78,576 -
-
171,120
371,636 -
7,738
1,178,645
1,250 -
22,521
38,692,585
50,602,292 19,844,335
7,102,759
25,952,880 550,000 -
-
44,030,429 8,035,161 19,844,335
462,839
610,849 - -
853,354
132,479 - -
3,683,132
628,101 - -
61,721
7,174,162 - -
1,708,504
3,099,903 - -
157,919
4,205,875 307,003 -
-
85,834,678 8,892,164 19,844,335 6,927,469
(47,142,093) 41,710,128 - 175,290
51,805,389
4,271,758
- 958,997
(3,260,129)
(43,564,415)
- (50,000)
48,545,260
(39,292,657)
- 908,997
1,403,167 2,417,471
- 1,084,287
36,004,187 14,342,587 - 535,473
865,891 - - -
36,870,078 14,342,587 - 535,473
$ 38,273,245 $ 16,760,058 $ - $ 1,619,760
The notes to the financial statements are an integral part of these statements.
E-4
One Cent
Big Coppitt
Cudjoe Regional
Nonmajor
Total
Infrastructure
Wastewater
Wastewater
All
Governmental
Governmental
Surtax
Project
Project
Debt Service
Funds
Funds
$ 20,817,676
$ -
$ -
$ -
$ 55,441,394
$ 141,160,646
-
325,648
13,207,840
-
5,401,924
18,935,412
-
-
1,558,862
-
8,863,334
49,444,606
-
-
-
-
14,438,357
24,916,469
-
-
-
-
3,316,332
3,403,295
99,757
90,118
832,799
15,780
613,256
2,202,204
3,912
34,263
128,766
-
621,022
1,990,379
20,921,345
450,029
15,728,267
15,780
88,695,619
242,053,011
- - - - 2,419,261
28,922,141
- - - - 28,430,980
100,803,744
- - - - 2,027,565
3,491,768
- - - - 5,267,722
9,083,333
- - - - 34,641,863
35,331,685
- - - - 99,948
8,982,614
- - - - 1,650,761
4,908,583
- - - - 4,200,123
8,713,001
12,401,693 32,665 41,677,918 - 2,293,374
56,405,650
- - - 16,000,000
- 16,000,000
- - - 5,154,694
- 5,154,694
- - - 1,623,566
- 1,623,566
12,401,693 32,665 41,677,918 22,778,260
81,031,597 279,420,779
8,519,652 417,364 (25,949,651) (22,762,480)
7,664,022 (37,367,768)
4,550,000 964 3,081 6,577,224 15,239,578 83,406,991
(16,428,714) (2,681,938) - - (15,687,249) (81,672,445)
- - - 16,065,000 - 16,065,000
- - 31,147,188 - - 31,147,188
(11,878,714) (2,680,974) 31,150,269 22,642,224 (447,671) 48,946,734
(3,359,062) (2,263,610) 5,200,618 (120,256) 7,216,351 11,578,966
26,968,838 2,609,065 18,145,223 2,685,735 110,558,569 211,849,677
- - - - - 865,891
26,968,838 2,609,065 18,145,223 2,685,735 110,558,569 212,715,568
$ 23,609,776 $ 345,455 $ 23,345,841 $ 2,565,479 $ 117,774,920 $ 224,294,534
E-5
MONROE COUNTY, FLORIDA
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Amounts reported for governmental activities in the statement of activities are different because
Net change in fund balances - total governmental funds $ 11,578,966
Governmental funds report capital outlays 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. This is the amount by which capital outlays of $62,193,425
exceed depreciation of $12,120,363 in the current period. 50,073,062
The net effect of various miscellaneous transactions involving capital assets (i.e., sales and
donations) is to decrease net position. The largest component included in this number are
amounts capitalized in CIP in the prior year which, when completed, were below the
County's capitalization threshhold. (1,101,313)
Debt issuance is reported as revenue in the governmental funds as current financial
resources are available, but as a long-term liability on the Statement of Net Position. (47,212,188)
Payment of long-term debt is reported as an expenditure in the Governmental funds as
current financial resources are used, but a reduction of long-term liabilities in the statement
of net position. 21,154,694
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 the governmental
funds:
Change in capitalized interest on long-term debt $ (1,921,808)
Change in accrued interest 79,374
Change in accrued litigation liability 400,000
Change in compensated absences (526,134)
Change in original issue premium 106,091
Change in OPEB liability (1,698,927)
Change in net pension liability and related deferred outflows and inflows (4,555,271)
Interlocal agreement expense (see note 14) (1,433,780)
(9,550,455)
Revenues that do not provide current financial resources are not reported on governmental
funds. However, revenues that are earned in the current period are reported in the
statement of activities. 28,467,513
The net revenues of internal service funds (funds used to charge the costs of certain
activities to individual funds) are reported with governmental activities. (2,652,645)
Change in net position of governmental activities $ 50,757,634
The notes to the financial statements are an integral part of this statement.
E-6
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
GENERALFUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Taxes
Intergovernmental
Charges for Services
Fines and Forfeitures
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
General Government:
Board of County Commissioners Admin
Clerk to BOCC - Financial Package
Gov't Enterprise Management System
Clerk Comm and Fees - Noncourt
Insurances - Supervisor of Elections
Promotional Advertising
Value Adjustment Board
Tax Increment Payment
Employee Suggestion Plan
Lobbyist
County Administrator
Technical Services
Technology
Grants Administration
Office of Management and Budget
Purchasing
Personnel
Public Works Management
Public Works Facilities Maintenance
ADA Compliance
County Attorney
Tax Collector
Property Appraiser
Supervisor of Elections
Quasi External Services
Hurricane
Total General Government
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 21,602,431 $ 21,602,431 $ 21,002,833 $ (599,598)
10,176,660
10,267,671
12,150,229
1,882,558
4,265,392
4,015,152
4,181,371
166,219
13,000
13,000
8,387
(4,613)
113,300
113,300
171,120
57,820
524,619
585,417
1,178,645
593,228
36,695,402
36,596,971
38,692,585
2,095,614
1,747,944
1,688,341
1,608,821
79,520
5,000
5,000
-
5,000
100,000
50,000
25,439
24,561
3,459,791
3,459,791
2,955,853
503,938
142,157
135,833
103,995
31,838
5,000
5,000
100
4,900
35,000
35,000
29,145
5,855
300,000
265,147
265,147
-
10,000
10,000
-
10,000
100,000
155,132
145,548
9,584
816,225
950,044
942,481
7,563
1,784,673
1,841,112
1,754,738
86,374
338,000
338,000
284,763
53,237
189,474
174,474
140,542
33,932
477,982
451,142
385,713
65,429
202,264
111,264
90,723
20,541
463,360
499,118
430,976
68,142
66,425
65,723
9,759
55,964
6,710,830
6,434,386
5,866,927
567,459
10,000
10,000
(20)
10,020
1,712,400
1,654,906
1,407,381
247,525
3,460,262
4,455,032
3,956,944
498,088
4,952,271
4,605,288
3,765,722
839,566
1,778,205
1,778,205
1,553,318
224,887
130,000
230,000
228,168
1,832
100,000
100,000
697
99,303
29,097,263
29,507,938
25,952,880
3,555,058
(Continued)
The notes to the financial statements are an integral part of these statements.
E-7
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
GENERALFUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Public Safety:
Emergency Management
Marathon Emergency Operations Center
Medical Examiner
Sheriff Law Enforcement and Corrections
Fire Academy
Fire and EMS LOSAP
Total Public Safety
Physical Environment:
Extension Service
Sustainability
Total Physical Environment
Transportation:
County Engineer
Total Transportation
Economic Environment:
Literacy Volunteers of America
Veteran's Affairs
Veteran's Affairs Transportation
Total Economic Environment
Human Services:
Middle Keys Guidance Clinic
Older Americans Volunteer Program
Domestic Abuse Shelter
Hospice of the Florida Keys
Florida Keys Outreach Coalition
Samuel's House
Womankind
Grace Jones
AIDS Help
Good Health Clinic
Monroe County Assn for Retarded Citizens
Florida Keys Children's Shelter
Wesley House
Florida Keys Area
Rural Health Network
Original Final
Budget Budget Actual
Variance with
Final Budget
Positive
(Negative)
305,937
302,989
291,279
11,710
79,155
78,685
25,417
53,268
650,510
646,605
635,282
11,323
43,705,397
43,790,397
42,624,072
1,166,325
619,650
613,928
423,329
190,599
38,000
38,000
31,050
6,950
45,398,649
45,470,604
44,030,429
1,440,175
212,351 210,583 194,380 16,203
539,028 539,028 416,469 122,559
751,379 749,611 610,849 138,762
294,250 294,250 132,479 161,771
294,250 294,250 132,479 161,771
30,000
30,000
30,000 -
484,407
482,025
465,342 16,683
134,819
134,819
132,759 2,060
649,226
646,844
628,101 18,743
41,424
41,424
41,424 -
500
500
- 500
30,000
30,000
29,544 456
141,000
141,000
141,000 -
70,000
70,000
70,000 -
100,000
100,000
100,000 -
130,000
130,000
130,000 -
45,000
45,000
45,000 -
45,000
45,000
45,000 -
83,500
83,500
83,500 -
169,500
169,500
169,500 -
189,000
189,000
189,000 -
170,958
170,958
170,958 -
50,000
50,000
50,000 -
136,902
136,902
136,902 -
(Continued)
The notes to the financial statements are an integral part of these statements.
E-8
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
GENERALFUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
Human Services (continued):
SHAL
50,000
50,000
42,850
7,150
The Heron
47,000
47,000
47,000
-
Kids Come First - FL Keys
33,000
33,000
32,714
286
FL Keys Healthy Start Coalition
33,000
33,000
33,000
-
Keys Area Interdenominational Resources
30,000
30,000
30,000
-
Star of the Sea Foundation
80,000
80,000
80,000
-
Independence Cay
30,000
30,000
30,000
-
Anchors Aweigh
20,000
20,000
20,000
-
Baker Act LKMC FS 394.463
83,334
83,334
62,500
20,834
GCC Baker Act Transp
145,000
145,000
143,677
1,323
GCC SamH FS 394.76
690,000
690,000
665,084
24,916
GCC Jail Inhouse Program
116,617
133,284
128,119
5,165
Historic FL Keys Foundation
32,450
32,450
32,450
-
Animal Shelters
1,142,946
1,142,946
1,071,078
71,868
Welfare Administration
594,021
591,716
563,892
27,824
Welfare Services
1,002,500
1,002,500
958,936
43,564
Health Care Respite Act
46,019
46,019
4,009
42,010
Bayshore Manor
833,560
822,319
768,479
53,840
Social Service Transportation
941,262
924,705
984,406
(59,701)
Burton Memorial UMC
10,000
10,000
10,000
-
Keys to Be Change
-
60,000
60,000
-
Voices for the FL Keys CHI
5,000
5,000
4,140
860
Be the Change of the FL Keys
60,000
-
-
-
Total Human Services
7,428,493
7,415,057
7,174,162
240,895
Culture and Recreation:
Fine Arts Council
69,300
69,300
69,300
-
Lower Keys AARP
4,500
4,500
2,156
2,344
Middle Keys AARP
4,500
4,500
4,191
309
Big Pine Key AARP
4,500
4,500
2,867
1,633
Upper Keys AARP
4,500
4,500
1,047
3,453
Boys and Girls Club
99,000
99,000
99,000
-
Heart of the Keys Recreation
40,000
40,000
40,000
-
Higgs Beach Maintenance
88,046
87,335
87,173
162
Library Admin Support
737,759
712,851
640,416
72,435
Library Key West
775,767
759,401
723,142
36,259
Library Key West Donations
2,500
144,913
54,824
90,089
Library Marathon
352,093
343,247
314,380
28,867
Library Marathon Donations
1,000
13,974
6,822
7,152
Library Islamorada
307,932
300,766
275,752
25,014
The notes to the financial statements are an integral part of these statements. (Continued)
E-9
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
GENERALFUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Culture and Recreation (continued):
Library Islamorada Donations
Library Key Largo
Library Key Largo Donations
Library Big Pine Key
Library Big Pine Key Donations
Total Culture and Recreation
Court Related:
Law Library
Guardian Ad Litem
State Attorney
Public Defender
Sheriff Court Security
Court Administration
Court Admin - Judicial Support
Court Case Management
Court Admin - Circuit Ct Reporter Svcs
Court Admin - Circuit Drug Court
Court Admin - Pretrial Release
Ct. Admin - Pretrial Svcs Drug Diversion
Court Admin - Information Systems
Total Court Related
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
Reserve for Cash Balance
Transfers from Other Funds
Transfers to Other Funds
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Restatement
Fund Balances - October 1, restated
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
500
1,589
125
1,464
441,730
431,185
418,740
12,445
500
1,738
-
1,738
372,146
367,606
359,082
8,524
1,000
11,141
886
10,255
3,307,273
3,402,046
3,099,903
302,143
68,998
68,998
67,545
1,453
193,492
193,492
139,482
54,010
327,038
325,537
261,697
63,840
692,049
684,134
623,503
60,631
1,557,371
1,557,371
1,557,371
-
2,532
2,516
1,743
773
132,856
137,124
133,072
4,052
210,160
173,576
161,386
12,190
1,675
1,675
1,638
37
399,748
409,955
389,382
20,573
538,277
551,133
519,300
31,833
161,746
163,595
140,509
23,086
215,318
215,007
209,247
5,760
4,501,260
4,484,113
4,205,875
278,238
91,427,793 91,970,463 85,834,678 6,135,785
(54,732,391) (55,373,492) (47,142,093) 8,231,399
(429,887)
(31,232)
- 31,232
(7,783,353)
(7,783,353)
- 7,783,353
51,751,476
52,043,922
51,805,389 (238,533)
(917,641)
(967,641)
(3,260,129) (2,292,488)
42,620,595
43,261,696
48,545,260 5,283,564
(12,111,796) (12,111,796) 1,403,167
13,514,963
12,111,796 12,111,796 36,004,187
23,892,391
- - 865,891
865,891
12,111,796 12,111,796 36,870,078
24,758,282
Fund Balances - September 30 $ - $ - $ 38,273,245 $ 38,273,245
The notes to the financial statements are an integral part of these statements.
E-10
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FINE AND FORFEITURE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Taxes
$ 46,293,808
$ 46,293,808
$ 43,898,743
$ (2,395,065)
Intergovernmental
-
-
84,096
84,096
Charges for Services
4,246,500
4,246,500
6,167,991
1,921,491
Fines and Forfeitures
81,500
81,500
78,576
(2,924)
Investment Income
85,000
85,000
371,636
286,636
Miscellaneous
2,500
2,500
1,250
(1,250)
Total Revenues
50,709,308
50,709,308
50,602,292
(107,016)
EXPENDITURES:
Current:
General Government:
Tax Increment Payment 550,000 550,000 550,000
Total General Government 550,000 550,000 550,000
Public Safety:
Sheriff Law Enforcement
445,312
3,055,312
2,652,206
403,106
Sheriff Corrections
2,619,800
2,764,800
2,268,360
496,440
Bond Refunds
25,000
25,000
-
25,000
LEEA Funds
75,000
75,000
75,000
-
Correction Facilities
1,928,757
1,928,757
1,582,797
345,960
Medical Air Transport
1,388,623
1,388,623
1,225,645
162,978
Interagency Communications
36,596
36,596
9,795
26,801
Juvenile Detention Cost Share
373,000
373,000
221,358
151,642
Total Public Safety
6,892,088
9,647,088
8,035,161
1,611,927
Court Related:
Sheriff Extradition 50,000 50,000 40,422 9,578
Sheriff Court Security 314,588 314,588 266,581 48,007
Total Court Related 364,588 364,588 307,003 57,585
Total Expenditures 7,806,676 10,561,676 8,892,164 1,669,512
Excess/Deficiency of Revenues
Over (Under) Expenditures 42,902,632 40,147,632 41,710,128 1,562,496
(Continued)
The notes to the financial statements are an integral part of these statements.
E-11
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
FINE AND FORFEITURE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
Reserve for Cash Balance
Transfers from Other Funds
Transfers to Other Funds
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
(373,870)
(373,870)
-
373,870
(5,079,462)
(5,079,462)
-
5,079,462
1,300,000
4,055,000
4,271,758
216,758
(43,564,415)
(43,564,415)
(43,564,415)
-
(47,717,747)
(44,962,747)
(39,292,657)
5,670,090
(4,815,115) (4,815,115) 2,417,471 7,232,586
4,815,115 4,815,115 14,342,587 9,527,472
$ - $ - $ 16,760,058 $ 16,760,058
The notes to the financial statements are an integral part of these statements.
E-12
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
HIDTA SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual (Negative)
REVENUES:
Intergovernmental
$ 20,025,000
$ 20,100,000
$ 19,844,335 $ (255,665)
EXPENDITURES:
Current:
Public Safety:
Public Safety
20,025,000
20,100,000
19,844,335 255,665
Excess/Deficiency of Revenues
Over (Under) Expenditures
-
-
- -
Net Change in Fund Balances
-
-
- -
Fund Balances - October 1 - - - -
Fund Balances - September 30
The notes to the financial statements are an integral part of these statements.
E-13
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
GOVERNMENTAL GRANTS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Intergovernmental
Charges for Services
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Public Safety:
Emergency Management Base Grant
Federal Emergency Base Grant 03
Federal Emergency Base Grant 04
Radiological Emerg Preparedness
EMS Award Grant
DOJ DC Medical Director Initiative
Go Solar Pgm ILA
SHSGP 14DS-P5-11-54-01
UASI 14 Grant
UASI 15 Grant
Total Public Safety
Physical Environment:
MC Canal Mstr Pln Edu Pgm
Exotic Plant Removal Crew 14
Exotic Plant Removal Crew 15
4-H Donations
DEP Clean Vessel Act
DEP Mobile Vessel Pumpout
FWC MC Removal Vessels
FWC MC Waterway Maker
FL Keys Youth Council
DEP MV205 Mobile Vessels
DEP MV204 Mobile Vessels
Total Physical Environment
Transportation
Variance with
Final Budget
Original Final
Positive
Budget Budget
Actual
(Negative)
$ - $ 16,961,094
$ 6,943,750
$ (10,017,344)
- 141,896
128,750
(13,146)
- -
7,738
7,738
- -
22,521
22,521
- 17,102,990
7,102,759
(10,000,231)
- 211,612
103,692
107,920
- 32,322
22,212
10,110
- 66,592
38,087
28,505
- 141,896
138,366
3,530
- 43,000
8,815
34,185
- 12,795
12,795
-
- 150,000
-
150,000
- 21,250
18,750
2,500
- 120,165
120,122
43
- 96,925
-
96,925
- 896,557
462,839
433,718
- 19,543
8,367
11,176
- 70,000
69,862
138
- 85,000
85,000
-
- 13,645
13,630
15
- 333,333
225,900
107,433
- 100,000
100,000
-
- 99,924
95,265
4,659
- 93,705
-
93,705
- 73,910
72,880
1,030
- 500,000
125,000
375,000
- 229,800
57,450
172,350
- 1,618,860
853,354
765,506
Old SR940 Leg A Bridge Repair - 46,034 -
46,034
No Name Key Brdg #904320 - 3,520,731 1,135,526
2,385,205
Card Sound Bridge Repair - 5,301,726 1,459,241
3,842,485
(Continued)
The notes to the financial statements are an integral part of these statements.
E-14
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
GOVERNMENTAL GRANTS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Transp Planning Prog - 2012
Pigeon Key Ferry Service
Scenic Highway Overlooks
Ped Brg Ovr M Adams Wtrwy
Garrison Bight Bridge
Pgn Key Ferry Ramp Repair
Total Transportation
Economic Environment:
Disaster Recovery CDBG
Small Cities CDBG - 2010
Total Economic Environment
Human Services:
Nutritional Services In Progress
GCC Male Jail inhouse Program
Title IIIC1 Congregate Meals - 2016
Title IIIC2 Home Delivered Meals - 2016
Title III-E Caregiver Support Service - 2016
Low Income Home Energy Program 2015
Low Income Home Energy Program 2016
Alzheimer's Disease Initiative 14/15
Alzheimer's Disease Initiative 15/16
Community Care Disabled Adults
Community Care for the Elderly 14/15
Community Care for the Elderly 15/16
Home Care for the Elderly 14/15
Home Care for the Elderly 15/16
SHIP to WAP
WAP Grant
Title IIIB Supportive Services - 2015
Title IIIC1 Congregate Meals - 2015
Title IIIB Supportive Services - 2016
Title IIIC2 Home Delivered Meals - 2015
Title III-E Caregiver Support Service - 2015
Sh Crt Mand Crm/Sub Abuse
GCC Heron Reduce Crime
Weather Asst Program 03
Total Human Services
Original Final
Budget Budget
Variance with
Final Budget
Positive
Actual (Negative)
- 566,532
101,905
464,627
- 404,213
231,250
172,963
- 1,126,553
29,732
1,096,821
- 475,000
475,000
-
- 260,000
170,507
89,493
- 120,459
79,971
40,488
- 11,821,248
3,683,132
8,138,116
- 175,822 - 175,822
- 414,757 61,721 353,036
- 590,579 61,721 528,858
- 30,273
1,736
28,537
- 37,331
33,940
3,391
- 165,172
129,131
36,041
- 247,434
217,100
30,334
- 142,377
63,776
78,601
- 86,686
76,856
9,830
- 199,740
127,993
71,747
- 120,301
115,630
4,671
- 182,942
36,138
146,804
- 190,282
94,697
95,585
- 353,276
333,010
20,266
- 459,667
154,722
304,945
- 9,799
9,689
110
- 11,779
4,368
7,411
- 80,937
22,756
58,181
- 70,207
-
70,207
- 9,374
2,338
7,036
- 37,362
33,746
3,616
- 125,034
120,401
4,633
- 67,988
65,566
2,422
- 19,205
15,494
3,711
- 4,125
4,125
-
- 42,515
42,515
-
- 2,777
2,777
-
- 2,696,583
1,708,504
988,079
(Continued)
The notes to the financial statements are an integral part of these statements.
E-15
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
GOVERNMENTAL GRANTS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Culture and Recreation:
State Aid to Libraries
Lower Keys Scenic VW Area
HFKF MC Cult Res
Rowell's Marina Sc Overlook
Total Culture and Recreation
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Transfers from Other Funds
Transfers to Other Funds
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original Final
Positive
Budget Budget
Actual
(Negative)
- 120,713
78,061
42,652
- 82,850
40,758
42,092
- 39,100
39,100
-
- 130,000
-
130,000
- 372,663
157,919
214,744
- 17,996,490 6,927,469 11,069,021
- (893,500) 175,290 1,068,790
- 2,962,491 958,997 (2,003,494)
- (2,068,991) (50,000) 2,018,991
- 893,500 908,997 15,497
- - 1,084,287 1,084,287
- - 535,473 535,473
$ 1,619,760 $ 1,619,760
The notes to the financial statements are an integral part of these statements.
E-16
MONROE COUNTY, FLORIDA
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
SEPTEMBER 30, 2016
ASSETS
Current Assets:
Cash and Cash Equivalents
Investments
Accounts Receivable, Net
Due from Other Funds
Due from Other Governmental Units
Interest Receivable
Total Current Assets
Noncurrent Assets:
Restricted Cash and Cash Equivalents
Restricted Accounts Receivable
Land and Other Nondepreciable Assets
Capital Assets, Net of Accum Depreciation
Total Noncurrent Assets
Total Assets
DEFERRED OUTFLOWS OF RESOURCES
Related to Pensions
LIABILITIES
Current Liabilities:
Accounts Payable
Retainage Payable
Accrued Wages and Benefits Payable
Claims and Judgments Payable
Due to Other Funds
Due to Other Governmental Units
Accrued Comp. Absences Payable
Unearned Revenues
Other Current Liabilities
Deposits in Escrow
Total Current Liabilities
Business -type Activities Enterprise Funds
Major Funds
Municipal Card Key
Service District Sound West
Waste Bridge Airport
$ 2,367,998 $
737,601 $
2,948,120
11,226,375
5,450,813
662,874
22,304
40
547,848
4,112
-
215,020
105,983
-
127,519
25,472
12,772
1,858
13,752,244
6,201,226
4,503,239
1,766,307 - -
3,720,200 50,000 1,328,425
581,808 7,156,415 58,858,049
6,068,315 7,206,415 60,186,474
19,820,559 13,407,641 64,689,713
281,085 173,991 1,026,428
1,247,957 1,590 275,462
- - 14,493
-
246,390
-
2,358
1,041
12,061
21,589
14,633
36,355
-
-
13,626
-
-
498
52,165
-
8,000
1,324,069
263,654
360,495
The notes to the financial statements are an integral part of these statements.
E-17
Governmental
Major Funds Activities
PFC Internal
Operations & Marathon Service
Restrictions Airport Total Funds
$ 329,782 $ 262,603
$ 6,646,104
$ 4,640,107
- 1,053,759
18,393,821
17,326,049
- 26,752
596,944
15,162
- 17,390
236,522
279,530
33,321 202,485
469,308
94,735
- 2,964
43,066
49,768
363,103 1,565,953
26,385,765
22,405,351
5,861,477 157,591
7,785,375 -
197,041 -
197,041 -
- 1,524,285
6,622,910 54,000
- 10,204,108
76,800,380 838,085
6,058,518 11,885,984
91,405,706 892,085
6,421,621 13,451,937 117,791,471 23,297,436
- 90,817 1,572,321 416,894
73,530 352,488 1,951,027 1,692,712
- 26,184 40,677 -
- - - 8,575
1 700 361
193,001 -
439,391
423,582
- 3,232
18,692
286
- 5,365
77,942
26,940
- 3,459
17,085
-
- -
498
-
- 6,306
66,471
-
266,531 397,034
2,611,783
3,852,456
E-18
MONROE COUNTY, FLORIDA
STATEMENT OF NET POSITION (CONTINUED)
PROPRIETARY FUNDS
SEPTEMBER 30, 2016
Business -type Activities Enterprise Funds
Major Funds
Municipal Card Key
Service District Sound West
Waste Bridge Airport
Noncurrent Liabilities:
Payable from Restricted Assets -
Landfill Closure/Post Closure Costs
175,531
-
-
Accrued Compensated Absences Payable
86,356
58,530
145,419
Claims and Judgments Payable
129,632
-
-
OPEB Liability
565,934
325,936
591,086
Net Pension Liability
809,009
506,099
2,633,908
Total Noncurrent Liabilities
1,766,462
890,565
3,370,413
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Related to Pensions
NET POSITION
Investment in Capital Assets
Restricted for:
Passenger Facility Charges
Landfill
Customs Service Operations
Unrestricted
Total Net Position
3,090,531 1,154,219 3,730,908
15,798 9,702 62,754
4,302,008 7,206,415 60,186,474
1,766,307
10,927,000 5,211,296 1,736,005
$ 16,995,315 $ 12,417,711 $ 61,922,479
Adjustment to reflect the consolidation of internal service
activities related to enterprise funds
Net Position of Business -type Activities
The notes to the financial statements are an integral part of these statements.
E-19
Major Funds
PFC
Operations & Marathon
Restrictions Airport
Total
Governmental
Activities
Internal
Service
Funds
- -
175,531
-
- 21,457
311,762
107,769
- -
129,632
-
- 379,385
1,862,341
966,279
- 282,550
4,231,566
1,189,690
- 683,392
6,710,832
2,263,738
266,531 1,080,426 9,322,615 6,116,194
- 5,183 93,437 23,089
- 11,728,393 83,423,290 892,085
5,825,308 - 5,825,308 -
- - 1,766,307 -
- 157,591 157,591 -
329,782 571,161 18,775,244 16,682,962
$ 6,155,090 $ 12,457,145 109,947,740 $ 17,575,047
(1,718,822)
$ 108,228,918
E-20
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENSES, AND
CHANGES IN NET POSITION
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Business -type Activities Enterprise Funds
Major Funds
Municipal
Card
Key
Service District
Sound
West
Waste
Bridge
Airport
Operating Revenues:
Franchise Fees
$ 473,600
$ -
$ -
Charges for Services
17,795,448
1,148,222
7,131,120
Fines and Forfeitures
-
-
336
Miscellaneous
44,295
2,400
1,565
Total Operating Revenues
18,313,343
1,150,622
7,133,021
Operating Expenses:
Personnel Services
1,251,221
807,438
2,593,981
Operations
16,735,119
375,398
5,440,279
Depreciation and Amortization
90,905
340,516
2,475,888
Asserted and Paid Claims
-
-
-
Total Operating Expenses
18,077,245
1,523,352
10,510,148
Operating Income (Loss) 236,098 (372,730) (3,377,127)
Nonoperating Revenues (Expenses):
Operating Grants
181,818
- 1,263,595
Grants and Donations - Other Sources
-
- -
Capital Grants and Contributions
-
- -
Investment Income
66,719
25,757 9,965
Insurance Recoveries
-
- -
(Loss) on Disposition of Assets
(11,243)
(5,565) (42,400)
Total Non -Operating
Revenues (Expenses)
237,294
20,192 1,231,160
Income (Loss) Before
Contributions and Transfers 473,392 (352,538) (2,145,967)
Transfers from Other Funds 4,100 - 198,970
Transfers to Other Funds (263,190) (514,503) (331,280)
Change in Net Position 214,302 (867,041) (2,278,277)
Total Net Position - October 1 16,781,013 13,284,752 64,200,756
Total Net Position - September 30 $ 16,995,315 $ 12,417,711 $ 61,922,479
Change in Net Position
Adjustment to reflect the consolidation of internal service
activities related to enterprise funds
Change in Net Position of Business -Type Activities
The notes to the financial statements are an integral part of these statements.
E-21
Governmental
Major Funds Activities
PFC Internal
Operations & Marathon Service
Restrictions Airport Total Funds
$ 473,600 $ -
- 968,966 27,043,756 22,061,021
- - 336 -
- 332 48,592 203,662
- 969,298 27,566,284 22,264,683
- 364,667
5,017,307
1,881,824
873,420 853,245
24,277,461
4,595,278
- 627,885
3,535,194
65,345
- -
-
19,117,602
873,420 1,845,797
32,829,962
25,660,049
(873,420) (876,499)
(5,263,678)
(3,395,366)
787,095
626,031
2,858,539
-
-
44,000
44,000
-
1,355,386
169,928
1,525,314
-
25,333
6,198
133,972
78,607
-
-
-
1,139,578
-
(7,868)
(67,076)
(57,236)
2,167,814
838,289
4,494,749
1,160,949
1,294,394 (38,210)
(768,929) (2,234,417)
- 17,390
220,460 -
(216,360) (50,153)
(1,375,486) (579,520)
1,078,034 (70,973)
(1,923,955) (2,813,937)
5,077,056 12,528,118 111,871,695 20,388,984
$ 6,155,090 $ 12,457,145 109,947,740 $ 17,575,047
$ (1,923,955)
(161,292)
$ (2,085,247)
E-22
MONROE COUNTY, FLORIDA
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Operating Activities:
Cash Received for Services
Cash Received from Other Funds for Goods and Services
Cash Received from Insurance Recoveries
Cash Payments to Suppliers for Goods and Services
Cash Payments for Employee Services
Cash Payments to Other Funds
Cash Payments for Claims
Other Operating Revenue
Net Cash Provided by (Used in)
Operating Activities
Noncapital Financing Activities:
Operating Grants Received
Transfers from Other Funds
Transfers to Other Funds
Net Cash Provided by (Used in) Noncapital
Financing Activities
Capital and Related Financing Activities:
Proceeds from Capital Grants
Acquisition of Capital Assets
Net Cash Provided by (Used in) Capital and
Related Financing Activities
Investing Activities:
Business -type Activities Enterprise Funds
Major Funds
Municipal Card Key
Service District Sound West
Waste Bridge Airport
$ 18,577,310 $ 1,148,182 $ 7,536,227
- 245,962 2,206
(16,686,390) (393,788) (5,473,471)
(1,233,157) (803,725) (2,566,732)
(969) - (1,205,065)
35,276 - 1,368
692,070 196,631 (1,705,467)
181,818 - 1,263,595
4,100 - 198,970
(263,190) (514,503) (331,280)
(77,272) (514,503) 1,131,285
(403,176) (72,612) (645,768)
(403,176) (72,612) (645,768)
Investment Income
66,719
25,757
9,965
Proceeds from Sales and Maturities of Investments
6,926,803
3,693,186
1,704,559
Purchase of Investment Securities
(8,654,454)
(4,299,253)
(892,651)
Net Cash Provided by (Used in) Investing Activities
(1,660,932)
(580,310)
821,873
Net Increase (Decrease) in Cash and
Cash Equivalents
(1,449,310)
(970,794)
(398,077)
Cash and Cash Equivalents:
October 1
5,583,615
1,708,395
3,346,197
September 30
$ 4,134,305
$ 737,601
$ 2,948,120
The notes to the financial statements are an integral part of these statements.
E-23
Governmental
Major Funds Activities
PFC Internal
Operations & Marathon Service
Restrictions Airport Total Funds
$ 205,133 $ 961,825
$ 28,428,677
$ 22,057,688
390,690 80,488
719,346
438,315
- -
-
1,139,578
(1,126,125) (701,414)
(24,381,188)
(4,803,494)
- (354,093)
(4,957,707)
(1,888,490)
- (35,244)
(1,241,278)
(35,533)
- -
-
(19,451,738)
- -
36,644
190,447
(530,302) (48,438) (1,395,506) (2,353,227)
787,095 670,031 2,902,539 -
- 17,390 220,460 -
(216,360) (50,153) (1,375,486) (579,520)
570,735 637,268 1,747,513 (579,520)
1,355,386 169,928 1,525,314 -
- (743,260) (1,864,816) (18,794)
1,355,386 (573,332) (339,502) (18,794)
25,333 6,198 133,972 78,607
- 258,613 12,583,161 10,781,851
- (697,001) (14,543,359) (13,383,664)
25,333 (432,190) (1,826,226) (2,523,206)
1,421,152 (416,692) (1,813,721) (5,474,747)
4,770,107 836,886 16,245,200 10,114,854
$ 6,191,259 $ 420,194 $ 14,431,479 $ 4,640,107
(Continued)
E-24
MONROE COUNTY, FLORIDA
STATEMENT OF CASH FLOWS (CONTINUED)
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Reconciliation of Operating Income (Loss)
to Net Cash Provided by (Used in) Operating
Activities:
Operating Income (Loss)
Adjustments to Reconcile Operating Income (Loss)
to Net Cash Provided by (Used in) Operating
Activities:
Depreciation and Amortization
Nonoperating Income - Insurance Recoveries
Change in Assets and Liabilities:
(Increase) Decrease in Accounts receivable
(Increase) Decrease in Due from Other Gov't Units
(Increase) Decrease in Due from Other Funds
(Increase) Decrease in Interest Receivable
Increase (Decrease) in Accounts Payable
Increase (Decrease) in Retainage Payable
Increase (Decrease) in Accrued Wages/Benefits
Increase (Decrease) in Claims/Judgments Payable
Increase (Decrease) in Due to Other Funds
Increase (Decrease) in Due to Other Gov't Units
Increase (Decrease) in Due to Constitutional Officers
Increase (Decrease) in Comp. Absences Payable
Increase (Decrease) in Deposits in Escrow
Increase (Decrease) in Landfill Closure Costs
Increase (Decrease) in Unearned Revenue
Increase (Decrease) in OPEB Liability
Increase (Decrease) in Pension Liability
Increase (Decrease) in Deferred Outflows
Increase (Decrease) in Deferred Inflows
Total Adjustments
Net Cash Provided by (Used in)
Operating Activities
Noncash Investing, Capital, and Financing Activities:
(Loss) on Disposition of Assets
Change in Fair Value of Investments
Cash Reconciliation:
Unrestricted
Restricted
Total
Business -type Activities Enterprise Funds
Major Funds
Municipal Card Key
Service District Sound West
Waste Bridge Airport
$ 236,098 $ (372,730) $ (3,377,127)
90,905
340,516
2,475,888
399,171
(40)
401,281
(3,554)
-
45,866
(133)
-
(43,660)
(9,019)
(4,379)
(533)
49,300
(16,411)
(47,685)
-
-
14,493
(60,702)
(39,240)
(134,722)
(335)
(99)
(1,205,584)
(634)
297
519
-
245,764
-
18,230
6,049
12,153
1,550
-
-
1,566
-
-
(90,909)
-
3,826
25,934
14,936
27,086
297,860
183,812
1,125,108
(199,622)
(123,300)
(760,229)
(63,636)
(38,544)
(242,147)
455,972
569,361
1,671,660
$ 692,070 $ 196,631 $ (1,705,467)
$ (11,243) $ (5,565) $ (42,400)
$ 52,698 $ 26,179 $ 5,435
$ 2,367,998 $ 737,601 $ 2,948,120
1,766,307 - -
$ 4,134,305 $ 737,601 $ 2,948,120
The notes to the financial statements are an integral part of these statements.
E-25
Major Funds
PFC
Operations & Marathon
Restrictions Airport Total
Governmental
Activities
Internal
Service
Funds
$ (873,420) $ (876,499) $ (5,263,678) $ (3,395,366)
- 627,885 3,535,194 65,345
- - - 1,139,578
205,133
7,997
1,013,542
(3,333)
197,689
97,878
337,879
3,589
-
(17,390)
(61,183)
(24,194)
-
(846)
(14,777)
(13,923)
(155,213)
243,699
73,690
(207,508)
(97,492)
(91,354)
(174,353)
-
-
(20,547)
(255,211)
(90,554)
-
-
-
(334,136)
-
(93)
(1,206,111)
423,377
-
(35,151)
(34,969)
10
193,001
-
438,765
-
-
2,394
38,826
(11,586)
-
-
1,550
-
-
-
1,566
-
-
(15,138)
(102,221)
-
-
17,385
85,341
44,279
-
96,817
1,703,597
439,261
-
(60,886)
(1,144,037)
(298,891)
-
(24,589)
(368,916)
(89,175)
343,118
828,061
3,868,172
1,042,139
$ (530,302) $ (48,438) $ (1,395,506) $ (2,353,227)
$ - $ (7,868) $ (67,076) $ (57,236)
$ - $ 4,244 $ 88,556 $ 81,494
$ 329,782 $ 262,603 $ 6,646,104 $ 4,640,107
5,861,477 157,591 7,785,375 -
$ 6,191,259 $ 420,194 $ 14,431,479 $ 4,640,107
E-26
MONROE COUNTY, FLORIDA
STATEMENT OF FIDUCIARY NET POSITION
FIDUCIARY FUNDS
SEPTEMBER 30, 2016
Agency
Funds
ASSETS
Cash and Cash Equivalents $ 6,722,269
Accounts Receivable 7,831
Total Assets $ 6,730,100
LIABILITIES
Due to Others $ 4,282,620
Due to Other Governmental Units 2,447,480
Total Liabilities $ 6,730,100
The notes to the financial statements are an integral part of these statements.
E-27
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following summary of the more significant accounting policies of the Monroe County, Florida
(County) is presented to assist the reader in interpreting these financial statements and should be viewed
as an integral part of this report.
Reporting Entity
Monroe County, Florida (County) is a Non -Charter County established as provided by Article VIII Section
1 of the Florida Constitution and Section 125 of the Florida Statutes. The Board of County Commissioners
(Board), composed of five members, is the legislative body for the County and as such budgets and
provides funding used by the separate Constitutional Offices with the exception of fees collected by the
Clerk of the Circuit Court and the Tax Collector. The County Administrator also serves as the principal
executive officer. In addition, certain designated governmental functions are performed by constitutional
officers who are elected at large. The five constitutional officers are: Clerk of the Circuit Court, Property
Appraiser, Sheriff, Supervisor of Elections, and Tax Collector. Although these five officers are
operationally autonomous, they do not hold sufficient corporate powers of their own to be considered
legally separate component units for financial reporting purposes. Therefore, they are reported together
with the Board as part of the primary government. Under the direction of the Clerk of the Circuit Court,
the Monroe County Finance Department maintains the accounting system for the Board's operations, but
excludes those of the Property Appraiser, Sheriff, Tax Collector, Clerk of the Circuit Court, and
Supervisor of Elections, each of which maintains its own accounting system.
Services provided by the County and accounted for within these financial statements include police
services for unincorporated areas of the County; health and social services; emergency medical services;
cultural and recreational programs; solid waste services; and other governmental services.
Entity status for financial reporting purposes is governed by Statement No. 14, as amended, of the
Governmental Accounting Standards Board (GASB) and Rules of the Auditor General, State of Florida.
The GASB is the standard -setting body for the establishment of accounting principles generally accepted
in the United States of America (GAAP) for governmental entities. Determination of the financial
reporting entity of the County is founded upon the objective of accountability. Therefore, these financial
statements include the County government, the primary government, and the legally separate component
units for which operational or financial responsibility rests with the elected officials of the County or for
which the nature and significance of their relationship to the County are such that exclusion would cause
the financial statements to be misleading or incomplete. All component units of the County have a
September 30 fiscal year end.
These financial statements include the County's blended component unit. Blended component units are
legally separate entities that are in substance part of the County's operation, as they either have governing
bodies that are substantively the same as the County or they provide their services exclusively or almost
exclusively to the County. The financial transactions of the component unit are merged in with similar
transactions of the County as part of the primary government.
F-1
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
The blended component unit of the County is as follows:
Monroe County Industrial Development Authority (MCIDA) — The MCIDA was created by Monroe
County, Florida Resolution pursuant to Florida Statute 159. The MCIDA serves to assist in
financing and refinancing capital projects, which will foster economic development in the County.
The Monroe County Board of County Commissioners serves as the governing board. The MCIDA
is not legally required to adopt a budget; however, the County must authorize the issuance of bonded
debt. Therefore, the MCIDA for financial reporting purposes is considered a blended component
unit of Monroe County, Florida. Neither the MCIDA nor the County has any legal obligation for
repayment of the revenue bonds of the MCIDA. As an issuer of "conduit" debt obligations, the
MCIDA has no assets, liabilities, or transactions during the current year.
Discretely -presented component units are legally separate entities which do not meet the criteria for
blending. They are reported in a separate column to emphasize that they are legally separate. The
following is a discretely -presented component unit of the County that is reported on the County financial
statements:
Monroe County, Florida Comprehensive Plan Land Authority (MCLA) — The MCLA was created
by Monroe County, Florida Ordinance 031-1986 pursuant to Florida Statute 380 and is considered
a legally separate entity from Monroe County. Its purpose is to operate a land acquisition program
in Monroe County, to implement the Monroe County Comprehensive Plan and address issues
created by it. The Monroe County Board of County Commissioners serves as the governing board
but there is no financial benefit or burden relationship. Therefore, the MCLA, for financial
reporting purposes, is considered a discretely -presented component unit of Monroe County,
Florida and is presented as a separate column in the County's financial statements. Complete
financial statements for MCLA can be obtained from MCLA's administrative office at 1200
Truman Avenue, Suite 207, Key West, Florida 33040.
Basis of Presentation:
Government -wide Financial Statements: The statement of net position and the statement of activities
report information about the nonfiduciary activities of the primary government. Fiduciary funds of the
government are eliminated from this presentation since these resources are not available for general
government funding purposes.
These statements provide a consolidated financial picture of the government distinguishing between
governmental activities and business type activities. Governmental activities are primarily financed
through taxes and intergovernmental revenues, while business type activities are primarily financed
through charges for services to external parties.
F-2
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
The statement of activities presents a comparison between direct expenses of the program revenues for
each function of the County's governmental activities, and for each of the business type activities. Direct
expenses are those that are clearly identified with a specific program or segment. Program revenues
include (a) fees, fines, and charges for services, and (b) grants and contributions that are restricted for the
operating or capital requirements of a specific program. All taxes and other revenues not meeting the
criteria for classification as program revenues are reported as general revenues.
Fund Financial Statements: The fund financial statements provide information about the County's funds,
including its fiduciary fund and blended component unit. Separate statements for each fund category —
governmental, proprietary, and fiduciary — are presented. The emphasis of fund financial statements is on
major governmental and enterprise funds, each displayed in a separate column. All remaining
governmental and enterprise funds are aggregated and reported as nonmajor funds.
Proprietary fund operating revenues, such as charges for services, result from exchange transactions
associated with the principal activity of the fund. Exchange transactions are those in which each party
receives and gives up essentially equal values. Nonoperating revenues, such as subsidies and investment
earnings, result from non -exchange transactions or ancillary activities.
The following are reported as major governmental funds:
General Fund — The General Fund is the general operating fund of the County. All general tax
revenues and other receipts not required either legally or by accounting principles generally
accepted in the United States of America to be accounted for in other funds are accounted for in
the General Fund.
Fine and Forfeiture Special Revenue Fund — The Fine and Forfeiture Fund is used to account for
revenues received from fines and forfeitures imposed from the commission of statutory offenses,
ad valorem taxes transferred to the Sheriff and to account for operations of the County's court
support system.
HIDTA Grants Special Revenue Fund — This fund is to account for all revenues and expenditures
for the ONDCP grants.
Governmental Grants Special Revenue Fund — The Governmental Grant Fund is used to account
for operating revenues and expenditures for governmental grant activity.
One Cent Infrastructure Surtax Capital Project Fund — The One Cent Infrastructure Surtax Fund is
used to account for capital improvements funded by the One Cent Infrastructure Surtax.
Big Coppitt Wastewater Capital Project Fund — The Big Coppitt Wastewater Capital Project Fund
is used to account for the revenues and expenditures for the wastewater infrastructure for the Big
Coppitt, Geiger Key, Shark Key, and Rockland Key areas of Monroe County.
F-3
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
Cudj oe Regional Wastewater Capital Project Fund — The Cudj oe Regional Wastewater Capital
Project Fund is used to account for the revenues and expenditures for the wastewater infrastructure
for the Cudj oe Regional area of Monroe County.
All Debt Service Fund — The All Debt Service Fund is used to account for accumulation of
resources for, and payment of, interest and principal on the long-term debt incurred in the issuance
of various revenue bonds and notes.
The following are reported as major enterprise funds:
Municipal Service District -Waste — The Municipal Service District -Waste Fund is used to account
for the operations of solid waste collection, disposal and recycling activities, as well as the closure
and post -closure of the landfills.
Card Sound Bridge — The Card Sound Bridge Fund is used to account for the operations of Monroe
County's Card Sound Toll Bridge.
Key West Airport — The Key West Airport Fund is used to account for the operations of Monroe
County's Key West International Airport.
PFC Operations & Restrictions — The Passenger Facility Charge (PFC) Operations & Restrictions
Fund is used to collect passenger finance charges used for capital expenditures related to Monroe
County's Key West International and Marathon International Airports.
Marathon Airport — The Marathon Airport Fund is used to account for the operations of Monroe
County's Florida Keys Marathon International Airport.
The Board also reports the following fund types:
Internal Service Funds — Internal service funds are used to account for the financing of workers'
compensation insurance, health insurance, general liability insurance, and fleet maintenance
services provided by one department to other departments of the County or to other governmental
units on a cost reimbursement basis.
Agency Funds — These funds account for assets held on behalf of third parties and do not involve
the measurement of operating results. Examples include taxes, fees, and fines collected on behalf
of other governments.
F-4
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
Measurement Focus and Basis of Accounting:
Government -wide and Proprietary Fund Financial Statements — These statements use a flow of economic
resources measurement focus and the accrual basis of accounting. Revenues are recognized when earned
and expenses are recognized when incurred, regardless of when the related cash flows take place.
Amounts reported as program revenues 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. Internally dedicated resources are reported as general revenues rather than
as program revenues. Likewise, general revenues include all taxes.
Non -exchange transactions, in which the County gives (or receives) value without directly receiving (or
giving) equal value in exchange, include property taxes, grants, entitlements, and donations. On an accrual
basis, revenue from grants, entitlements, and donations is recognized in the fiscal year in which all
eligibility requirements have been satisfied.
The County has chosen to fund the Volunteer Firefighter and Emergency Medical Services Length of
Service Award Pension Plan (LOSAP) on a pay-as-you-go basis. Pension expenditures are made from the
General Fund, which is maintained on the modified accrual basis of accounting. Benefits and refunds are
recognized when due and payable in accordance with the terms of the plan.
The LOSAP has no assets accumulated in a trust that meets the following criteria, outlined in GASB
Statements 67 and 68:
Contributions to the pension plan and earnings on those contributions are irrevocable.
Pension plan assets are dedicated to providing benefits to plan members.
Pension plan assets are legally protected from the creditors or employers.
Method Used to Value LOSAP Investments — No funds are set aside to pay benefits and administration
costs. These expenditures are paid as they become due.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating
revenues and expenses generally result from providing services and producing and delivering goods in
connection with a proprietary fund's principal ongoing operations. The principal operating revenues of
the County's enterprise funds are charges to customers for sales and services. Operating expenses for
enterprise funds include the cost of sales and services, administrative expenses, and depreciation on capital
assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and
expenses.
F-5
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
Governmental Fund Financial Statements — These statements use a current financial resources
measurement focus, and are maintained on the modified accrual basis of accounting. Revenues are
recognized when they become susceptible to accrual; that is, when they become both "measurable" and
"available" to finance expenditures of the current period. The County considers amounts collected within
60 days after year end to be available and thus recognizes them as revenues of the current year, except for
property taxes since such taxes are collected to finance expenditures of the subsequent period.
Expenditures are recognized in the accounting period in which the related fund liability is incurred, if
measurable. Principal and interest on general long-term debt are recorded as fund liabilities when due or
when amounts have been accumulated in the debt service fund for payments to be made early in the
following year. Expenditures related to compensated absences are recorded only when leave has been
taken.
Revenues of the County, which are susceptible to accrual under the modified accrual basis of accounting,
include property taxes, gas taxes, sales taxes, grants, interest revenue, and charges for services. In applying
the susceptibility -to -accrual concept to intergovernmental revenues, the legal and contractual
requirements of the numerous individual programs are used as guidance. There are, however, essentially
two types of these revenues. In one, monies must be expended for the specific purpose or project before
any amounts will be paid to the County; therefore, revenues are recognized based upon the expenditures
recorded. In the other, monies are virtually unrestricted as to purpose of expenditure and substantially
irrevocable; i.e., revocable only for failure to comply with prescribed compliance requirements, such as
with equal employment opportunity. These resources are reflected as revenues at the time of receipt or
earlier if they meet the availability criterion. If revenues are expected to be received later than 60 days
following the end of the fiscal year, then a receivable is recorded, along with deferred inflows of resources.
Once the funds are received, revenue and cash are recorded and the receivable and deferred inflows of
resources are eliminated. Deferred inflows of resources also includes unearned revenue when receipts
have not met all of the earning requirements.
The proprietary fund financial statements use a flow of economic resources measurement focus and the
accrual basis of accounting. Revenues are recognized when earned and expenses are recognized when
incurred, regardless of when the related cash flows take place.
Under the terms of the grant agreements, the County funds certain programs by a combination of specific
cost -reimbursement grants, categorical block grants, and general revenues. Thus when program expenses
are incurred, there are both restricted and unrestricted net position available to finance the program. It is
the County's policy to first apply cost -reimbursement grant resources to such programs, followed by
categorical block grants, and then by general revenues.
F-6
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
Budgets and Budgetary Data — Listed below are the statutory procedures followed by the Board of County
Commissioners in establishing the budget for Monroe County:
1) On or before June 1 of each year, the Sheriff, the Clerk of the Circuit Court, the Tax Collector, the
Property Appraiser, and the Supervisor of Elections shall each submit to the Board, a tentative budget
for their respective offices for the ensuing fiscal year.
2) Within fifteen days after certification of the ad valorem tax roll by the Property Appraiser, the
County Budget Officer submits to the Board a proposed budget for the fiscal year commencing the
following October 1. The budget includes proposed expenditures and the means of financing said
expenditures.
3) By Board resolution, a tentative budget is submitted to the public. Public hearings are held to obtain
taxpayer comments.
4) Fifteen days after adoption of the tentative budget, a final budget is submitted for review and
adoption at a final public hearing.
5) Prior to, or on September 30, the Board's budget is legally enacted through passage of a resolution.
Accordingly, all fund types have an adopted budget as required by Florida Statute 129.03.
6) During the year, the Office of Management and Budget acts on intradepartmental budget changes
that do not alter the total revenue or expenditures budgeted to a cost center. A cost center represents
a particular area of Board operations or a department. All other budget changes (whether they are
transfers between cost centers or alterations of total revenues and expenditure in a fund) are approved
by the Board. Supplemental appropriations were necessary and the budgetary data presented herein
was amended by the Board during the year.
7) Florida Statute 129, Section 7, as amended in 1978, provides that only expenditures in excess of
total fund budgets are unlawful. However, because the Board acts on all budget changes between
cost centers, this becomes the level of control.
8) Budgeted to actual expenditure reports are employed as a management control device during the
year for all fund types.
9) Budgets for all funds are adopted on a basis consistent with accounting principles generally accepted
in the United States of America (GAAP) for that fund type.
10) All appropriations lapse at year end.
Use of Estimates — The presentation of financial statements in conformity with accounting principles
generally accepted in the United States of America, as applicable to governmental units, requires
management to make use of estimates that affect the reported amounts in the financial statements. Actual
results could differ from estimates.
Encumbrances — Encumbrance accounting, under which purchase orders, contracts, and other
commitments for the expenditure of moneys are recorded in the restricted, committed, or assigned fund
balance classifications, and is employed as an extension of the statutorily required budgetary process.
Under Florida Statutes, appropriations, even if encumbered, lapse at fiscal year-end. The County's
intention is to substantially honor these encumbrances under authority provided in the subsequent year's
budget.
F-7
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
Cash and Cash Equivalents — Cash balances from the majority of funds are pooled for investment
purposes. Earnings from such investments are allocated to the respective funds based on applicable cash
participation by each fund. The investment pools are managed such that all participating funds have the
ability to deposit and withdraw cash as if they were demand deposit accounts. Therefore, all balances
representing participants' equity in the investment pools are classified as cash equivalents for purposes of
these statements. For investments, held separately from the pools, highly liquid (including restricted
assets) with an original or remaining maturity of 90 days or less are considered cash equivalents.
Investments — Florida Statute 218.415 authorizes local governments to invest its funds pursuant to a
written investment plan, which allows investment of surplus funds in the following:
1) The Florida Local Government Surplus Funds Trust Fund Investment Pool (SBA).
2) United States Government Securities — Negotiable direct obligations or obligation, the principal
and interest of which are unconditionally guaranteed by the United States Government.
3) United States Government Agencies — Bonds, debentures, notes, callables, and fixed rate
mortgage -backed securities issued or guaranteed by United States Government Agencies, provided
such obligations are backed by the full faith and credit of the United States.
4) Federal Instrumentalities (United States Government -sponsored agencies) — senior obligations,
which include bonds, debentures, notes, callables, and fixed rate mortgage -backed securities issued
or guaranteed by United States government -sponsored agencies (Federal Instrumentalities). These
are limited to the following:
a. Federal Farm Credit Bank (FFCB)
b. Federal Home Loan Bank or its County banks (FHLB)
c. Federal National Mortgage Association (FNMA)
d. Federal Home Loan Mortgage Corporations (Freddie -Macs) including Federal Home Loan
Mortgage Corporation participation certificates.
5) Interest -bearing Time Deposit or Savings Account — Non-negotiable interest -bearing time
certificates of deposit or savings accounts in financial institutions organized under the laws of this
State and/or in national financial institutions organized under the laws of the United States and
doing business and situated in the State of Florida, provided that any such deposits are secured by
the Florida Security for Public Deposits Act, Chapter 280, Florida Statutes. Additionally, the
financial institution shall not be listed with any recognized credit watch information service.
6) Registered Investment Companies (Money Market Mutual Funds) — Shares in open-end and no-
load Money Market Mutual Funds provided such funds are registered under the Federal
Investment Company Act of 1940 and operate in accordance with 17 C.F.R. 270.2a-7, which
stipulates that money market funds must have an average weighted maturity of 90 days or less. In
addition, the share value of the Money Market Mutual Funds must equal $1.00.
F-8
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
7) Intergovernmental Investment Pool — Intergovernmental Investment Pools that are authorized
pursuant to the Florida Interlocal Cooperation Act, as provided in Section 163.01, Florida Statutes.
All investments are stated at fair value or at amortized cost, which approximates fair value.
Accounts Receivable — Amounts due from private individuals, organizations, or other governments, which
pertain to charges for services rendered, are reported as accounts receivable. Receivables are reviewed
periodically to establish or update the provisions for uncollectible amounts. These provisions are
estimated based on an analysis of the age of the various accounts.
Interfund Balances and Activity — During the course of normal operations, the County has numerous
transactions between funds. Examples of these transactions include providing services, constructing
assets, matching grants, or servicing debt. These transactions are generally recorded as interfund transfers,
except for internal service fund charges, which are reflected as revenues to internal service funds and
expenses/expenditures to the funds receiving the services.
As part of the consolidation process, to avoid distorting financial results, the interfund activities are
eliminated in the General Fund. Interfund activities such as municipal and unincorporated service
district's policing, 911, and interagency communications are reported as revenues in the fund that captures
the revenue and as an expenditure in the fund which disburses the funds for the service. The offsetting
expenditures and revenues are reclassified to interfund transfers. However, interfund security services
provided by the Sheriff and used by the airports are not eliminated.
Additionally, short-term interfund loans are recorded as cash flow needs arise. As of fiscal year-end, any
unpaid amounts related to these transactions are reported as "due from other funds" or "due to other funds"
on the fund financial statements.
Inventory — Inventory in the General Fund consists of certain supplies, which are stated at cost using the
moving average cost method. The inventory is determined by an annual physical count. Inventories are
reported as a nonspendable classification of fund balance as these amounts are not in spendable form and
are not expected to be converted to cash.
Restricted Assets — The use of certain assets of enterprise funds is restricted by specific provisions of bond
resolutions and agreements with various parties. Assets so designated are identified as restricted assets
on the balance sheet. When both restricted and unrestricted resources are available for use, the hierarchy
of enterprise fund spending is to use restricted resources first, and then unrestricted resources as they are
needed. Restricted assets are classified as noncurrent if they are for acquisition or construction of capital
assets, for liquidation of long-term debt, or are for other than current operations.
Mortgage/Notes Receivable — The mortgages receivable associated with the Governmental Grants and the
Local Housing Assistance funds are intended to ultimately be forgiven; as such, they are offset by an
allowance for uncollectible accounts.
F-9
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
Capital Assets — Capital assets are reported in the applicable governmental or business -type activities
column in the government -wide financial statements. Capital assets of the County include property,
buildings, equipment, and infrastructure assets (e.g. roads, bridges, curbs and gutters, streets and
sidewalks, drainage systems, and lighting systems). Constructed or purchased assets are recorded at
historical or estimated historical cost at the time of purchase. Donated assets are recorded at estimated
acquisition value at the date of donation. Costs of maintenance and repairs that do not add to the value of
assets or extend their useful lives are not capitalized.
The County maintains a $1,000 threshold for additions to equipmentwith an estimated useful life in excess
of two years. Buildings are capitalized when the value is $15,000 or greater. Public domain and
infrastructure assets represent major expenditures for such items as roads, water and sewer treatment
plants and lines, landfill improvements, parks, and drainage systems. Additions and improvements for
roads, water, sewer, landfill, and drainage infrastructure are capitalized when the cost amounts to $250,000
while park additions and improvements are capitalized at $25,000.
Depreciation has been provided using the straight-line method. The estimated useful lives of the various
classes of depreciable capital assets are as follows:
Life — Years
Buildings
10-50
Equipment
5-10
Infrastructure
10-50
Public Domain Infrastructure
20-50
Capacity Rights
99
Capacity rights represent an intangible asset that arose from a contract with a private wastewater operator
that included wastewater processing capacity for 1,500 equivalent dwelling units for a period of 99 years.
The Monroe County Land Authority also has intangible assets consisting of affordable rental housing
restrictions applicable to Peary Court in Key West. These restrictions require the housing at Peary Court
to be rented at or below the levels set by the City of Key West's Workforce Housing Ordinance.
Compensated Absences — County policy permits employees to accumulate a limited amount of annual and
sick leave, which will be paid to employees upon termination of employment. In the government -wide
and proprietary fund financial statements, an expense and a liability for compensated absences and the
salary -related payments are recorded as the leave is earned.
Landfill Closure Costs — Under the terms of current state and federal regulations, the County is required
to place a final cover on closed landfill areas, and to perform certain monitoring and maintenance functions
for a period of up to 30 years after closure. In accordance with GASB Statement No. 18, the County is
recognizing these costs of closure and post -closure maintenance over the active life of each landfill area,
based on landfill capacity used during the period. Required obligations for these costs are recognized in
the Municipal Service District -Waste enterprise fund for public landfill operations.
F-10
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
Deferred Inflows of Resources — Represents an acquisition of net position that applies to a future period
and, therefore, will not be recognized as an inflow of resources until that time. The County has three items
that qualify for reporting in this category: advances from other governments, unavailable revenues, and
pension related items. The advances from other governments are grants received in advance of meeting
the timing requirements for revenue recognition in governmental funds. The governmental funds report
unavailable revenues where receipts are not within the 60-day time frame for revenue recognition. The
enterprise and internal service funds and governmental and business -type activities report deferred inflows
for pension related items as actuarially determined.
Deferred Outflows of Resources — Represents an acquisition of net position that applies to a future period
and, therefore, will not be recognized as an outflow of resources (expense) until that future time. The
County reports one deferred outflow related to pensions.
Long -Term Obligations — Long-term debt is reported as a liability in the proprietary fund statement of net
position. Long-term debt associated with the County's governmental activities is presented on the
government -wide financial statements of the County. In the County's governmental fund financial
statements, the face amount of debt issued is reported as another financing source, while principal
payments are reported as expenditures.
Property Taxes — Property taxes, based on assessed values at January 1, are levied and become due and
payable on November 1st of each year. A 4% discount is allowed if the taxes are paid in November, with
the discount declining by 1% each month thereafter. Taxes become delinquent on April 1st of each year,
and tax certificates for the full amount of any unpaid taxes and assessments must be sold not later than
June 1 st of each year. No accrual for the property tax levy becoming due in November of 2016 is included
in the accompanying financial statements, since such taxes are collected to finance expenditures of the
subsequent period.
Fund Balance Policies — The focus of fund balance reporting is to clearly communicate the constraints
imposed upon resources in governmental funds. The fund balance classifications indicate the level of
constraints placed upon how resources can be spent and identify the sources of those constraints. The
following five classifications: nonspendable, restricted, committed, assigned, and unassigned, serve to
inform readers of the financial statements of the extent to which the County is bound to honor constraints
on the specific purposes for which resources in a fund can be spent.
Fund balances of governmental type funds are classified as follows:
Nonspendable — Include amounts that cannot be spent because they are either not in spendable
form, or for legal or contractual reasons, must be kept intact. This classification includes
inventory.
Restricted — Include amounts that can be spent only for specific purposes because of constitutional
provisions or enabling legislation, or because of constraints externally imposed by creditors,
grantors, contributors or the laws or regulations of other governments.
F-11
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
Committed — Include amounts that can be used only for the specific purposes determined by a
formal action in the form of a resolution of the Board of County Commissioners, the County's
highest level of decision making authority. Commitments may be changed or lifted only by the
Board taking the same formal action that imposed the constraint originally.
Assigned — Include amounts intended by the Board to be used for specific purposes determined by
a formal action in the form of a resolution, but are neither restricted nor committed. The Board's
fund balance policy authorizes the County Administrator to assign fund balance based on
intentions for use of fund balance communicated by the Board.
Unassigned — The residual classification of the General Fund. Only the General Fund reports a
positive unassigned fund balance. Other governmental funds might report a negative balance in
this classification, as the result of overspending for specific purposes for which amounts had been
restricted, committed, or assigned. Unassigned fund balance does not necessarily represent the
amount of fund balance that can be appropriated.
The Board has the responsibility of responding to emergency disaster and has committed $10,000,000 in
general fund disaster reserve funds to ensure adequate cash flow is available in post -disaster situations.
The Board's policy on unassigned general fund balance is to achieve and maintain an unassigned General
Fund balance equal to four months of budgeted expenditures. The Board considers a balance of less than
four months to be a cause for concern, barring unusual or deliberate circumstances, and a balance of more
than six months as excessive. Since this is a plan for accumulating resources rather than a limitation on
how existing resources can be spent, the fund balance policy does not affect the classification of fund
balance and is included in the unassigned fund balance.
The County spends restricted amounts first, when both restricted and unrestricted fund balance is
available, unless prohibited by legal documents, grant agreements or contracts. Additionally, the County
uses committed fund balance, followed by assigned fund balance and then unassigned fund balance when
expenditures are incurred for purposes for which amounts in any of the unrestricted fund balance
classifications could be used.
Fund Deficits — There are no fund deficits to report at September 30, 2016.
Net Position — Net position in the proprietary fund financial statements is classified as net investment in
capital assets; restricted and unrestricted. Restricted net position of $7,749,206 represents constraints on
resources that are either externally imposed by creditors, grantors, contributors, or laws or regulations of
other governments or imposed by law through state statute.
F-12
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
New Accounting Pronouncements — During the fiscal year ended September 30, 2016, the County
implemented the following GASB Pronouncements:
GASB Statement No. 72, Fair Value Measurement and Application. Effective October 1, 2015, this
Statement establishes accounting and financial reporting standards for fair value measurements, the level
of fair value hierarchy, and valuation techniques. Implementation did not result in a change in valuation;
however, Note 2, Cash, Cash Equivalents, and Investments, has been modified to provide the new
disclosures required by this Statement.
GASB Statement No. 73, Accounting and Financial Reporting for Pensions and Related Assets that are
not within the Scope of GASB Statement 68, and Amendments to Certain Provisions of GASB Statements
67 and 68. Effective October 1, 2015, this Statement was issued to improve the usefulness of information
about pensions included in the general purpose external financial reports of state and local governments
for making decisions and assessing accountability. See Note 23 for further information on the
implementation of this Statement.
GASB Statement No. 76, The Hierarchy of Generally Accepted Accounting Principles for State and Local
Governments. Issued June 2015, this Statement reduces the GAAP hierarchy into two categories of
authoritative GAAP and addresses the use of authoritative and non -authoritative literature in the event that
the accounting treatment for a transaction or other event is not specified within a source of authoritative
GAAP.
GASB Statement No. 79, Certain External Investment Pools and Pool Participants. Issued December
2015, this Statement addresses accounting and financial reporting for certain external investment pools
and pool participants. Note 2, Cash, Cash Equivalents and Investments, has been modified to provide the
new disclosures required by this Statement.
F-13
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 2 — CASH, CASH EQUIVALENTS, AND INVESTMENTS
The County maintains a cash and investment pool available for use by all funds except those whose cash
and investments must be segregated due to bond covenants or other legal restrictions.
As of September 30, 2016, the carrying value of the County's deposits and investments, with their
respective credit ratings, are as follows:
Investment '1
Credit Valuation Measurement
Rating Method
Less than 6 6 Months to 1
Fair Value Months Year 1 to 3 Years
Demand and Time Deposits
N/A
N/A
$ 114,304,414
$ 114,304,414 $ $
Local Gov't Surplus Fund
Unrated
Amortized Cost
156,524
156,524
Equity Securities
N/A
Fair Value - Level 1
10,354
10,354
Municipal Bonds
AA- to AAA
Fair Value - Level
4,045,596
393,682 475,067 3,176,847
US Treasury Notes
AA+
Fair Value - Level 2
111,027,289
48,208,459 29,052,395 33,766,435
Federal Agency Bond / Note
AA+
Fair Value - Level
49,556,252
8,958,817 10,529,832 30,067,603
Total Fair Value
$ 279,100,429 $ 172,032,250 $ 40,057,294 $ 67,010,885
The Board categorizes its fair value measurements within the fair value hierarchy established by generally
accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair
value of the asset. Level 1 securities are valued using direct observable unadjusted quoted prices in active
markets for identical assets. Level 2 securities are valued using a pricing methodology that uses evaluation
models, such as matrix pricing, to value securities based on a security's relationship to benchmark quoted
prices. Level 3 securities are priced by an alternative pricing source utilizing discounted cash flow models
and broker bids, or may have an estimated fair value equal to cost, due to the absence of an independent
pricing source.
The Florida Local Government Surplus Trust Fund (Florida PRIME) maintains a stable net asset value
and is amortized at cost. There are no restrictions or limitations on withdrawals; however, Florida PRIME
may, on the occurrence of an event that has a material impact on liquidity or operations, impose restrictions
on withdrawals for up to 48 hours.
Credit Risk — The County's Investment Policy (Policy) limits credit risk by restricting authorized
investments to the following: Florida Local Government Surplus Funds Trust Fund Investment Pool
administered by Florida's State Board of Administration (a 2a7-like pool), direct obligations of the United
States or its agencies and instrumentalities, money market mutual funds and Intergovernmental Investment
Pools authorized by the Florida Statutes. The Policy requires that investments in federal instrumentality
debt be guaranteed by the full faith and credit of the U.S. Government sponsored agency, and that
investments in money market mutual funds have a rating of AAAm or AAAm-G or better by Standard
& Poor's (S&P) or other nationally recognized rating agency. All credit ratings indicated in the previous
table are S&P ratings.
F-14
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 2 — CASH, CASH EQUIVALENTS, AND INVESTMENTS (continued)
Concentration of Credit Risk — The Policy establishes limitations on portfolio composition, both by
investment type and by issuer, in order to control concentration of credit risk. The Policy provides the
following maximum limits of the portfolio, with limits in any one issuer of the portfolio invested:
Investment Tvne Portfolio Maximum
Florida Local Government Surplus Funds Trust Fund
100%
United States Government Securities
100%
United States Government Agencies
50%
Federal Instrumentalities Maximum in Callable Securities
80%
Interest -bearing Time Deposit or Savings Accounts
10%
Money Market Mutual Funds
20%
Intergovernmental Investment Pool
10%
Maximum in Anv One Issuer
N/A
N/A
10%
30%, with a maximum of 25% in callable securities
10%
10%
N/A
At September 30, 2016, the portion of the County's investment portfolio invested in Federal
instrumentalities is detailed as follows:
Issue
Percent of
Investment
Portfolio
Federal Home Loan Bank (FHLB) 6.25%
Federal National Mortgage Association (FNMA) 9.98%
Federal Home Loan Mortgage Corporation (FHLMC) 14.63%
Custodial Credit Risk — The Policy requires bank deposits secured as provided by Chapter 280, Florida
Statutes. This law requires local governments to deposit funds only in financial institutions designated as
qualified public depositories by the Chief Financial Officer of the State of Florida. Demand and time
deposits are fully insured by the FDIC for the first $250,000 at each institution and the remaining balances
are insured 100% by the State of Florida collateral pool, a multiple institution pool with the ability to
assess its members for collateral shortfalls if a member institution fails.
The Policy requires execution of a third -party custodial safekeeping agreement for all purchased
securities, and requires that securities be held in the County's name. As of September 30, 2016, all of the
County's investments are held in a bank's trust department in the County's name.
Interest Rate Risk — The Policy limits the investment of three months of operating expenditures to twelve
months. The Policy limits the investment of noncurrent operating funds to five years.
F-15
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 2 — CASH, CASH EQUIVALENTS, AND INVESTMENTS (continued)
Restricted Cash and Cash Equivalents — The County has the following unrestricted and restricted cash and
cash equivalents at September 30, 2016:
Unrestricted Cash and Cash Equivalents:
Governmental Activities:
Governmental Funds
Internal Service Funds
Business -Type Activities
Total Unrestricted Cash and Cash Equivalents
Restricted Cash and Cash Equivalents:
Business -Type Activities
Total Cash and Cash Equivalents
Local
Government
Surplus Trust
Fund
7,151
7,151
Demand Deposits
$ 95,232,828
4,640,107
6,638,953
106,511,888
Total
$ 95,232,828
4,640,107
6,646,104
106,519,039
7,785,375 7,785,375
$ 7,151 $ 114,297,263 $ 114,304,414
In the Sheriff's 911 Wireless Fund, cash in the amount of $1,332,004 must be maintained in a separate
account according to statute. This cash can only be used for capital expenditures directly attributable to
establishing and provisioning E911 services, which may include next generation development.
As of September 30, 2016, the fiduciary funds had cash balances totaling $6,722,269 in demand deposits.
F-16
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 3 — RESTRICTED ASSETS
Restricted assets in the Enterprise Funds include those assets created by resolutions adopted by the County
for the landfill escrow account, airport passenger facility charges and customs service operations. Total
restricted assets as of September 30, 2016 are as follows:
Municipal District Waste
Landfill Closure Escrow
PFC Operations and Restrictions
Passenger Facility Charge
Marathon Airport
Customs Service Operations
Cash and Cash
Equivalents
Accounts
Receivable Total
$ 1,766,307 $
5,861,477
157,591
$ 7,785,375
F-17
- $ 1,766,307
197,041
6,058,518
- 157,591
$ 197,041 $ 7,982,416
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 4 — ACCOUNTS RECEIVABLE
Accounts receivable, in the accompanying fund financial statements, are shown net of the allowance for
doubtful accounts. The accounts receivable and the allowance balances are as follows:
Allowance for
Accounts Uncollectible Accounts
Service Provided Receivable Accounts Receivable, Net
Governmental Activities
General Fund
Misc
$ 167,897
$ -
$ 167,897
Fine and Forfeiture Fund
Air Amb Svc
11,132,965
9,766,915
1,366,050
HIDTA Grants
Misc
13,461
-
13,461
Governmental Grants
Misc
261
-
261
One Cent Infrastructure
Misc
80
-
80
Nonmajor Funds:
Fire and Amb Dist 1 Fund
Ground Amb Svc
2,613,504
2,606,792
6,712
Other Nonmajor Funds
Misc
55,099
-
55,099
Internal Service Funds
Misc
15,162
-
15,162
Total Governmental Activities
13,998,429
12,373,707
1,624,722
Business -Type Activities:
MSD - Waste Fund:
Tipping Fees
24,355
2,904
21,451
Waste Assessments
8,139
7,326
813
Solid Waste
40
-
40
Card Sound Bridge
Misc
40
-
40
Key West Airport
Rent, Misc
547,848
-
547,848
Marathon Airport
Misc
26,752
-
26,752
TotalBusiness- TypeActivities
607,174
10,230
596,944
Total Accounts Receivable
$ 14,605,603
$ 12,383,937
$ 2,221,666
The Board of County Commissioners voted to approve air and ground ambulance billing write-offs of
$875,822 and $360,837, respectively, for fiscal year 2016.
F-18
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 5 — ASSESSMENTS RECEIVABLE
The County has been improving water quality by replacing cesspits and septic systems with a series of
central wastewater collection and treatment systems. The County has funded these projects with state
grants and loans, local infrastructure sales surtax, and special assessments levied on the property owners.
The property owners have the option of paying their special assessments up front or on an installment
basis added to their real estate tax bills. Revenue is recognized on the modified accrual basis.
In the governmental fund balance sheet, any remaining assessment owed is recorded as a receivable with
an offset to unavailable revenue (deferred inflows of resources) for those amounts that are not available.
NOTE 6 — MORTGAGES RECEIVABLE
Mortgages receivable at September 30, 2016 consist of the following:
or Governmental Funds - Governmental Grants Fund:
Second mortgages receivable from individuals, collateralized by personal
residences. Payment of principal deferred for ten (10) years from date of note.
Principal is amortized in equal monthly amounts starting in year six (6) until ten
(10) at which time the loan is fully forgiven. In event of sale/transfer of property or
occupancy the prorated principal balance is due in full within thirty (30) days of
sale/transfer or cessation of primary residence. $ 496,531
Nonmajor Governmental Funds - Local Housing Assistance:
Second mortgages receivable from individuals, collateralized by personal
residences. Commencing in year sixteen of the mortgage, principal and accrued
interest at 3% will be forgiven at the rate of 6.66% annually. The entire principal
balance and accrued interest will be forgiven at the end of year thirty. If the
residence is sold before the initiation of the forgiveness period, the full amount of
the mortgage and accrued interest is due at closing. 45,244
F-19
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 6 — MORTGAGES RECEIVABLE (continued)
Nonmajor Governmental Funds - Local Housing Assistance (continued):
Second mortgages receivable from individuals, collateralized by personal
residences. Principal payments shall be deferred for the term of the first mortgage
loan, or until the date the last payment is due on the first mortgage. Interest is not
charged on the mortgages unless the mortgagor is in default, in which case the
interest rate is 12% per annum from the date when payment of the second is due.
The entire balance of the loan is intended to be forgiven. However, in the event
the home is sold, transferred, rented, refinanced, or the first mortgage loan is
satisfied, the entire mortgage balance is due. 7,599,844
Second mortgages receivable from individuals, collateralized by personal
residences. The entire balance of the mortgages will be forgiven upon maturity,
provided that the mortgagor complies with the mortgage covenants. The
mortgages are interest free. 492,673
Second mortgages receivable from individuals, collateralized by personal
residences. The entire balance of the mortgages will be forgiven over ten, fifteen
or twenty years, provided that the mortgagor complies with the mortgage
covenants. The mortgages are interest free. 110,964
Florida Homebuyer Opportunity Tax Credit (FHOP), second mortgages
receivable from individuals, collateralized by personal residences. Interest on note
is 6% per annum, except if paid in full within first 18 months of repayment period
then interest rate shall be 0% from the date when the first payment is due.
16,000
Second mortgages receivable from individuals, collateralized by personal
residences. The entire balance of the mortgages will be forgiven upon maturity,
provided that the mortgagor complies with the mortgage covenants. The
mortgages are interest free. 212,123
Total Nonmajor Governmental Funds - Local Housing Assistance 8,476,848
Total Mortgages Receivable $ 8,973,379
The mortgages receivable associated with the governmental grants are offset by an allowance for
uncollectible accounts of $496,531. As the mortgages receivable associated with the Local Housing
Assistance Fund are intended to ultimately be forgiven, an allowance for uncollectible accounts of
$8,476,848 has been established.
F-20
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 7 — CAPITAL ASSETS
Internal service fund capital asset information is included in the governmental activities on the
government -wide financial statements, because the internal service funds predominately serve those
activities.
Capital asset activity for the year ended September 30, 2016 is as follows:
Governmental Activities
Capital assets not depreciated:
Land
Construction in progress
Total capital assets not depreciated
Capital assets depreciated:
Buildings
Equipment
Infrastructure
Capacity rights
Total capital assets depreciated
Less accumulated depreciation for:
Buildings
Equipment
Infrastructure
Capacity rights
Total accumulated depreciation
Total capital assets depreciated, net
Governmental funds, capital assets, net
Beginning Balances Additions
Reductions
Ending Balances
$ 74,315,911
$ 451,504
$ -
$ 74,767,415
153,949,344
54,486,856
(161,516,740)
46,919,460
228,265,255
54,938,360
(161,516,740)
121,686,875
160,028,198
2,875,867
-
162,904,065
72,359,989
9,411,229
(2,653,456)
79,117,762
107,098,178
155,581,515
-
262,679,693
3,150,000
-
-
3,150,000
342,636,365
167,868,611
(2,653,456)
507,851,520
(59,354,392)
(3,284,831)
-
(62,639,223)
(45,298,648)
(6,374,795)
2,507,248
(49,166,195)
(34,384,786)
(2,584,616)
-
(36,969,402)
(349,998)
(31,818)
-
(381,816)
(139,387,824)
$(12,276,060)
$ 2,507,248
(149,156,636)
203,248,541
358,694,884
$ 431,513,796
$ 480,381,759
F-21
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 7 — CAPITAL ASSETS (continued)
Business -Type Activities:
Capital assets not depreciated:
Land
Construction in progress
Total capital assets not depreciated
Capital assets depreciated:
Land improvements
Buildings
Equipment
Infrastructure
Total capital assets depreciated
Less accumulated depreciation for:
Land improvements
Buildings
Equipment
Infrastructure
Total accumulated depreciation
Total capital assets depreciated, net
Business -type activities, capital assets, net
Beginning Balances
Additions
Reductions
Ending Balances
$ 5,647,606
$ -
$ -
$ 5,647,606
1,729,464
1,376,457
(2,130,617)
975,304
7,377,070
1,376,457
(2,130,617)
6,622,910
212,925
-
-
212,925
57,021,105
1,747,898
-
58,769,003
5,004,515
501,513
(624,767)
4,881,261
55,411,637
382,719
-
55,794,356
117,650,182
2,632,130
(624,767)
119,657,545
(212,925)
-
-
(212,925)
(13,828,192)
(1,495,144)
-
(15,323,336)
(3,911,239)
(390,376)
551,153
(3,750,462)
(21,914,153)
(1,656,289)
-
(23,570,442)
(39,866,509)
$ (3,541,809)
$ 551,153
(42,857,165)
77,783,673
76,800,380
$ 85,160,743
$ 83,423,290
Depreciation was charged to functions/programs on the government -wide statement of activities of the
County as follows:
Governmental Activities:
Business -Type Activities:
General Government
$ 2,050,349
Municipal Service District - Waste
$ 90,905
Public Safety
5,667,319
Card Sound Bridge
340,516
Physical Environment
1,071,430
Key West Airport
2,475,888
Transportation
1,663,320
Marathon Airport
627,885
Economic Environment
29,919
Human Services
203,100
Total Business -Type Activities
$ 3,535,194
Culture and Recreation
405,300
Court Related
723,245
Total Governmental Activities $ 11,813,982
The total depreciation expense reported in the table above, does not equal the additions to accumulated
depreciation due to transfers of equipment and its associated accumulated depreciation between
governmental and proprietary funds.
F-22
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 8 — POST EMPLOYMENT BENEFITS OTHER THAN PENSION
Plan Description — The Monroe County Board of County Commissioners (BOCC) administers a single -
employer defined benefits healthcare plan (the Plan). Florida Statute 112.0801 requires the County to
provide retirees and their eligible dependents with the option to participate in the Plan if the County
provides health insurance to its active employees and their eligible dependents. The Plan provides medical
coverage and prescription drug benefits to both active and eligible retired employees. The Plan does not
issue a publicly available financial report.
The BOCC may amend the plan design, with changes to the benefits, premiums and/or levels of participant
contribution at any time. In an open session, on at least an annual basis and prior to the annual enrollment
process, the BOCC approves the rates for the coming calendar year for the retiree and County
contributions.
The Plan includes participants from the BOCC and each Constitutional Officer. The BOCC is responsible
for funding all obligations not funded on a pay-as-you-go basis by Constitutional Officers. Accordingly,
all disclosures are on a county -wide basis and the net other postemployment benefit (OPEB) obligation
for the Board includes obligations related to the Constitutional Officers.
Benefits Provided — Employees who retire as an active participant in the Plan and were hired on or after
October 1, 2001 may continue to participate in the Plan by paying the monthly premium established
annually by the BOCC. Employees who retire as an active participant in the plan, were hired before
October 1, 2001, have at least ten years of full time service with the County, and meet the retirement
criteria of the Florida Retirement System (FRS) may continue to participate in the Plan at a cost equal to
the FRS Health Insurance Subsidy for ten years of service (currently $5 per month for each year of service
credit at retirement or $50 per month). Retirees who have met the requirements for early retirement, have
not achieved age 60 and whose age and years of service do not equal 70 (rule of 70) must pay the standard
monthly premium until the age criteria or the rule of 70 is met. At that time, the retiree's cost of
participation will be equal to the FRS Health Insurance Subsidy. Surviving spouses and dependents of
participating retirees may continue in the plan if eligibility criteria specific to those classes are met.
Employees Covered by Benefit Terms — Eligibility for postemployment participation in the Plan is limited
to full time employees of the County, and the Constitutional Officers. At September 30, 2016, there were
no terminated employees entitled to deferred benefits. The membership of the County's medical plan
consisted of:
Active Employees 1,250
Retirees and Beneficiaries Currently Receiving Benefits 420
Total Membership
F-23
1,670
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 8 — POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued)
Contributions — The County establishes, and may amend, the contribution requirements of Plan members.
The required contribution is based on pay-as-you-go financing requirements, net of member contributions.
Net OPEB Liability
Actuarial Methods and Assumptions —Projections of benefits for financial reporting purposes are based
on the substantive Plan (the Plan as understood by the employer and Plan members) and include the types
of benefits provided at the time of each valuation and the historical pattern of benefit cost sharing between
the employers and plan members to that point.
The valuation dated December 27, 2016, as of October 1, 2015, was prepared using generally accepted
actuarial principles and practices, and relied on unaudited census data and medical claims data reported
by the County. The valuation used the projected unit credit actuarial method. Demographic assumptions
mirror those used for the various Florida Retirement System pension funds. The actuarial assumptions
include an annual health care cost trend rate of 7.5% initially, reduced by decrements of 0.5% to an
ultimate rate of 4.5%. The assumptions included a discount rate tied to the return expected on the funds
used to pay the benefits, and assumes for an unfunded plan, that the benefits continue to be funded on a
pay-as-you-go basis, that the County's investments earn a 4.0% rate of return over the long term, and the
inflation rate will be 3.5%. The unfunded accrued actuarial liability is amortized over 30 years on an open
basis, as a level percentage of the projected payroll, assumed to increase at 3.5% per annum.
Annual OPEB Costs and Net OPEB Obligation — The County's annual other postemployment benefit
(OPEB) cost (expenses) is calculated based on the annual required contribution (ARC) of the employer,
an amount actuarially determined in accordance with the parameters of GASB Statement 45. The ARC
represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost each year
and amortize any unfunded liabilities over a period not to exceed 30 years. The following table shows the
actuarially determined components as of October 1, 2015 (the latest actuarial valuation date), under
the current plan provisions of the County's unfunded annual OPEB cost, the amount actually contributed
to the plan and the changes in the County's net OPEB obligation to the plan.
Annual Required Contribution
$ 5,484,000
Interest on Net OPEB Obligation
1,524,000
Adjustment to Annual Required Contribution
(1,361,000)
Annual OPEB Cost
5,647,000
Less Contributions Made
(3,818,453)
Increase in Net OPEB Obligation
1,828,547
Net OPEB Obligation, Beginning of Year
38,100,486
Net OPEB Obligation, End of Year
$ 39,929,033
F-24
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 8 — POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued)
The County's annual OPEB cost, the percentage of annual OPEB cost contributed to the plan and the net
OPEB obligation for 2016 and the two preceding years were as follows (amounts expressed in thousands):
Fiscal
Annual
Percentage
Net
Year
OPEB
Annual Cost
OPEB
Ended
Cost
Contributed
Obligation
9/30/2014
$ 6,449
41.2%
$ 34,364
9/30/2015
6,700
55.5%
38,100
9/30/2016
5,647
67.6%
39,929
The net OPEB obligation at the end of the year is $38,066,692 for governmental activities and $1,862,341
for business -type activities. The OPEB obligation for governmental activities is presented only on the
government -wide financial statements of the County.
No trust or agency fund has been established for the plan; there were no adjustments to the annual required
contribution or interest earnings.
Funded Status and Funding Progress — At September 30, 2016, funded status and funding progress is as
follows (amounts expressed in thousands):
Actuarial
Accrued
Actuarial Actuarial Liability -
Valuation Value of Projected Unfunded
Date Assets Unit Credit AAL
UAAL as a
Funded Covered Percentage of
Ratio Payroll Covered Payroll
10/1/2013 $
- $ 97,091
$ 97,091
0%
$ 69,338
140.03%
10/1/2014
- 100,105
100,105
0%
70,326
142.34%
10/1/2015
- 96,096
96,096
0%
66,814
143.83%
Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and
assumptions about the probability of occurrence of events far into the future. Examples include
assumptions about future employment, mortality, and the healthcare cost trend.
Amounts determined regarding the funded status of the Plan and the annual required contributions of the
employer are subject to continual revision as actual results are compared with past expectations and new
estimates are made about the future. The schedule of funding progress, presented as required
supplementary information following the notes to the financial statements, presents trend information
about whether the actuarial value of Plan assets is increasing or decreasing over the time relative to the
actuarial accrued liabilities for benefits.
F-25
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 8 — POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued)
Schedule of Employer Contributions — At September 30, the annual required contributions to the Plan
were as follows (in thousands):
Employer Contributions
Annual
Required Percentage of
Year Ended Contribution ARC
September 30 (ARC) Contributed
2016
$ 5,484
70%
2015
6,466
46%
2014
6,240
43%
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS
Florida Retirement System
General Information — All of the County's employees participate in the Florida Retirement System (FRS).
As provided by Chapters 121 and 112, Florida Statutes, the FRS provides two cost sharing, multiple
employer, defined benefit plans administered by the Florida Department of Management Services,
Division of Retirement, including the FRS Pension Plan (Pension Plan) and the Retiree Health Insurance
Subsidy (HIS Plan). Under Section 121.4501, Florida Statutes, the FRS also provides a defined
contribution plan (Investment Plan) alternative to the FRS Pension Plan, which is administered by the
State Board of Administration (SBA). As a general rule, membership in the FRS is compulsory for all
employees working in a regularly established position for a state agency, county government, district
school board, state university, community college, or a participating city or special district within the State
of Florida. The FRS provides retirement and disability benefits, annual cost -of -living adjustments, and
death benefits to plan members and beneficiaries. Benefits are established by Chapter 121, Florida
Statutes, and Chapter 60S, Florida Administrative Code. Amendments to the law can be made only by an
act of the Florida State Legislature.
The State of Florida annually issues a publicly available financial report that includes financial statements
and required supplementary information for the FRS. The latest available report may be obtained by
writing to the State of Florida Division of Retirement, Department of Management Services, P.O. Box
9000, Tallahassee, Florida 32315-9000, or from the Web site:
www.dms.myflorida.com/workforce operati ons/retirement/publi cations.
Pension Plan
Plan Description — The Pension Plan is a cost -sharing multiple -employer defined benefit pension plan,
with a Deferred Retirement Option Program (DROP) for eligible employees.
F-26
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
Benefits Provided — Benefits under the Pension Plan are computed on the basis of age, average final
compensation, and service credit. For Pension Plan members enrolled before July 1, 2011, Regular class
members who retire at or after age 62 with at least six years of credited service or 30 years of service
regardless of age are entitled to a retirement benefit payable monthly for life, equal to 1.6% of their final
average compensation based on the five highest years of salary, for each year of credited service. Vested
members with less than 30 years of service may retire before age 62 and receive reduced retirement
benefits. Special Risk Administrative Support class members who retire at or after age 55 with at least six
years of credited service or 25 years of service regardless of age are entitled to a retirement benefit payable
monthly for life, equal to 1.6% of their final average compensation based on the five highest years of
salary, for each year of credited service. Special Risk class members (sworn law enforcement officers,
firefighters, and correctional officers) who retire at or after age 55 with at least six years of credited
service, or with 25 years of service regardless of age, are entitled to a retirement benefit payable monthly
for life, equal to 3.0% of their final average compensation based on the five highest years of salary for
each year of credited service. Senior Management Service class members who retire at or after age 62
with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement
benefit payable monthly for life, equal to 2.0% of their final average compensation based on the five
highest years of salary for each year of credited service.
Elected Officers' class members who retire at or after age 62 with at least six years of credited service or
30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to
3.0% (3.33% for judges and justices) of their final average compensation based on the five highest years
of salary for each year of credited service.
For Plan members enrolled on or after July 1, 2011, the vesting requirement is extended to eight years of
credited service for all these members and increasing normal retirement to age 65 or 33 years of service
regardless of age for Regular, Senior Management Service, and Elected Officers' class members, and to
age 60 or 30 years of service regardless of age for Special Risk and Special Risk Administrative Support
class members. Also, the final average compensation for all these members will be based on the eight
highest years of salary.
As provided in Section 121.101, Florida Statutes, if the member is initially enrolled in the Pension Plan
before July 1, 2011, and all service credit was accrued before July 1, 2011, the annual cost -of -living
adjustment is 3% per year. If the member is initially enrolled before July 1, 2011, and has service
credit on or after July 1, 2011, there is an individually calculated cost -of -living adjustment. The annual
cost -of -living adjustment is a proportion of 3% determined by dividing the sum of the pre -July 2011
service credit by the total service credit at retirement multiplied by 3%. Plan members initially enrolled
on or after July 1, 2011, will not have a cost -of -living adjustment after retirement.
In addition to the above benefits, the DROP program allows eligible members to defer receipt of monthly
retirement benefit payments while continuing employment with a FRS employer for a period not to exceed
60 months after electing to participate. Deferred monthly benefits are held in the FRS Trust Fund and
accrue interest. There are no required contributions by DROP participants.
F-27
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
Contributions — Effective July 1, 2011, all enrolled members of the FRS, other than DROP participants,
are required to contribute three percent of their salary to the FRS. In addition to member contributions,
governmental employers are required to make contributions to the FRS based on state-wide contribution
rates established by the Florida Legislature. These rates are updated as of July 1 of each year. The
employer contribution rates by job class for the periods from October 1, 2015 through June 30, 2016 and
from July 1, 2016 through September 30, 2016, respectively, were as follows: Regular7.26% and
7.52%; Special Risk Administrative Support32.95% and 28.06%; Special Risk22.04% and 22.57%;
Senior Management Service21.43% and 21.77%; Elected Officers42.27% and 42.47%; and DROP
participants— 12.88% and 12.99%. These employer contribution rates include 1.66% and 1.66% HIS Plan
subsidy for the periods October 1, 2015 through June 30, 2016 and from July 1, 2016 through September
30, 2016, respectively.
The County's contributions, including employee contributions, to the Pension Plan totaled $8,113,247 for
the fiscal year ended September 30, 2016.
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions — At September 30, 2016, the County reported a liability of $79,890,617
for its proportionate share of the Pension Plan's net pension liability. The net pension liability was
measured as of June 30, 2016, and the total pension liability used to calculate the net pension liability was
determined by an actuarial valuation as of July 1, 2016. The County's proportionate share of the net
pension liability was based on the County's 2015-16 fiscal year contributions relative to the 2015-
16 fiscal year contributions of all participating members. At June 30, 2016, the County's
proportionate share was 0.3164%, which was an increase of 0.0176% from its proportionate share
measured as of June 30, 2015.
For the fiscal year ended September 30, 2016, the County recognized pension expense of $11,919,574. In
addition the County reported deferred outflows of resources and deferred inflows of resources related to
pensions from the following sources:
Differences between expected and actual experience
Changes of assumptions
Net difference between projected and actual
earnings on Pension Plan investments
Changes in proportion and differences between
County Pension Plan contributions and
proportionate share of contributions
County Pension Plan contributions subsequent to
the measurement date
FRS Pension
Deferred Outflows of Deferred Inflows of
Resources Resources
$ 6,117,040 $ 743,836
4,833,143 -
20,650,751
2,946,123 3,124,948
2,434,966
Total $ 36,982,023 $ 3,868,784
F-28
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
The deferred outflows of resources related to the Pension Plan, totaling $2,434,966, resulting from County
contributions to the Plan subsequent to the measurement date, will be recognized as a reduction of the net
pension liability in the fiscal year ended September 30, 2017.Other amounts reported as deferred outflows
of resources and deferred inflows of resources related to the Pension Plan will be recognized in pension
expense as follows:
FRS
Year ended June 30:
Amount
2017
$ 4,225,780
2018
4,225,780
2019
12,230,067
2020
8,370,163
2021
1,231,142
Thereafter
395,341
Total $ 30,678,273
Actuarial Assumptions — The total pension liability in the June 30, 2016 actuarial valuation was
determined using the following actuarial assumption, applied to all periods included in the measurement:
Inflation 2.60%
Salary increases 3.25%, average, including inflation
Investment rate of return 7.60%, net of pension plan investment
expense, including inflation
Mortality rates were based on the Generational RP-2000 with Projection Scale BB tables.
The actuarial assumptions used in the July 1, 2015, valuation were based on the results of an actuarial
experience study for the period July 1, 2008 through June 30, 2013.
The long-term expected rate of return was decreased from 7.65% to 7.60%, and the active member
mortality assumption was updated.
The long-term expected rate of return on Pension Plan investments was not based on historical returns,
but instead is based on a forward -looking capital market economic model. The allocation policy's
description of each asset class was used to map the target allocation to the asset classes shown below.
Each asset class assumption is based on a consistent set of underlying assumptions and includes an
adjustment for the inflation assumption. The target allocation and best estimates of arithmetic and
geometric real rates of return for each major asset class are summarized in the following table:
F-29
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
Asset Class
Cash
Fixed Income
Global Equity
Real Estate (Property)
Private Equity
Strategic Investments
Total
Assumed Inflation - Mean
Target
Allocation (1)
Compound
Annual Annual
Arithmetic (Geometric)
Return Return
Standard
Deviation
1%
3.0%
3.0%
1.7%
18%
4.7%
4.6%
4.6%
53%
8.1%
6.8%
17.2%
10%
6.4%
5.8%
12.0%
6%
11.5%
7.8%
30.0%
12%
6.1%
5.6%
11.1%
100.00%
(1) As outlined in the Pension Plads investment policy
2.6%
1.9%
Discount Rate — The discount rate used to measure the total pension liability was 7.60%. The Pension
Plan's fiduciary net position was projected to be available to make all projected future benefit payments
of current active and inactive employees. Therefore, the discount rate for calculation of the total pension
liability is equal to the long-term expected rate of return.
Sensitivitv of the Countv's Proportionate Share of the Net Position Liabilitv to Chances in the Discount
Rate — The following represents the County's proportionate share of the net pension liability calculated
using the discount rate of 7.60%, as well as what the County's proportionate share of the net pension
liability would be if it were calculated using a discount rate that is one percentage point lower (6.60%) or
one percentage point higher (8.60%) than the current rate:
Current Discount
1 % Decrease Rate 1 % Increase
(6.60%) (7.60%) (8.60%)
County's proportionate share
of the net pension liability $ 147,084,035 $ 79,890,617 $ 23,960,971
Pension Plan Fiduciary Net Position — Detailed information regarding the Pension Plan's fiduciary net
position is available in the separately issued FRS Pension Plan and Other State -Administered Systems
Comprehensive Annual Financial Report.
Payables to the Pension Plan — At September 30, 2016, the County reported no amounts payable for
outstanding contributions to the Pension Plan.
F-30
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
HIS Plan
Plan Description — The HIS Plan is a cost -sharing multiple -employer defined benefit pension plan
established under Section 112.363, Florida Statutes, and may be amended by the Florida legislature at any
time. The benefit is a monthly payment to assist retirees of State -administered retirement systems in
paying their health insurance costs and is administered by the Florida Department of Management
Services, Division of Retirement.
Benefits Provided — For the fiscal year ended September 30, 2016, eligible retirees and beneficiaries
received a monthly HIS payment of $5 for each year of creditable service completed at the time of
retirement, with a minimum HIS payment of $30 and a maximum HIS payment of $150 per month. To be
eligible to receive these benefits, a retiree under a State -administered retirement system must provide
proof of health insurance coverage, which may include Medicare.
Contributions — The HIS Plan is funded by required contributions from FRS participating employers as
set by the Florida Legislature. Employer contributions are a percentage of gross compensation for all
active FRS members. For the fiscal year ended September 30, 2016, the HIS contribution for the period
October 1, 2015 through June 30, 2016 and from July 1, 2016 through September 30, 2016 was 1.66%
and 1.66%, respectively. The County contributed 100% of its statutorily required contributions for the
current and preceding three years. HIS Plan contributions are deposited in a separate trust fund from which
payments are authorized. HIS Plan benefits are not guaranteed and are subject to annual legislative
appropriation. In the event legislative appropriation or available funds fail to provide full subsidy benefits
to all participants, benefits may be reduced or cancelled.
The County's contributions to the HIS Plan totaled $1,196,192 for the fiscal year ended September 30,
2016.
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions — At September 30, 2016, the County reported a liability of $26,577,384
for its proportionate share of the HIS Plan's net pension liability. The net pension liability was measured
as of June 30, 2016, and the total pension liability used to calculate the net pension liability was determined
by an actuarial valuation as of July 1, 2016. The County's proportionate share of the net pension
liability was based on the County's 2015-16 fiscal year contributions relative to the 2015-16 fiscal
year contributions of all participating members. At June 30, 2016, the County's proportionate
share was 0.2280%, which was a decrease of 0.0006% from its proportionate share measured as of
June 30, 2015.
F-31
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
For the fiscal year ended September 30, 2016, the County recognized pension expense of $2,156,768. In
addition, the County reported deferred outflows of resources and deferred inflows of resources related to
pensions from the following sources:
Differences between expected and actual experience
Changes of assumptions
Net difference between projected and actual
earnings on HIS Plan investments
Changes in proportion and differences between
County HIS Plan contributions and
proportionate share of contributions
County HIS Plan contributions subsequent to the
measurement date
Total
HIS Pension
Deferred Outflows of Deferred Inflows of
Resources Resources
$ - $ 60,534
4,170,667 -
13,438 -
235,310 499,368
325,971 -
$ 4,745,386 $ 559,902
The deferred outflows of resources related to the HIS Plan, totaling $325,971, resulting from County
contributions to the HIS Plan subsequent to the measurement date, will be recognized as a reduction of
the net pension liability in the fiscal year ended September 30, 2017. Other amounts reported as deferred
outflows of resources and deferred inflows of resources related to the HIS Plan will be recognized in
pension expense as follows:
Year ended June 30
2017
2018
2019
2020
2021
Thereafter
Total
F-32
HIS
Amount
$ 691,108
691,108
688,713
687,563
594,846
506,175
$ 3,859,513
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
Actuarial Assumptions — The total pension liability in the July 1, 2016, actuarial valuation was determined
using the following actuarial assumptions, applied to all periods included in the measurement:
Inflation 2.60%
Salary increases 3.25%, average, including inflation
Municipal bond rate 2.85%
Mortality rates were based on the Generational RP-2000 with Projection Scale BB tables.
The municipal rate used to determine total pension liability was deceased from 3.80% to 2.85%.
The actuarial assumptions used in the July 1, 2015, valuation were based on the results of an actuarial
experience study for the period July 1, 2008 through June 30, 2013.
Discount Rate — The discount rate used to measure the total pension liability was 2.85%. In general, the
discount rate for calculating the total pension liability is equal to the single rate equivalent to discounting
at the long-term expected rate of return for benefit payments prior to the projected depletion date. Because
the HIS benefit is essentially funded on a pay-as-you-go basis, the depletion date is considered to be
immediate, and the single equivalent discount rate is equal to the municipal bond rate selected by the HIS
Plan sponsor. The Bond Buyer General Obligation 20-Bond Municipal Bond Index was adopted as the
applicable municipal bond index.
Sensitivitv of the Countv's Proportionate Share of the Net Position Liabilitv to Chances in the Discount
Rate — The following represents the County's proportionate share of the net pension liability calculated
using the discount rate of 2.85%, as well as what the County's proportionate share of the net pension
liability would be if it were calculated using a discount rate that is one percentage point lower (1.85%) or
one percentage point higher (3.85%) than the current rate:
Current Discount
1% Decrease Rate 1% Increase
(1.85%) (2.85%) (3.85%)
County's proportionate share
of the net pension liability $ 30,490,297 $ 26,577,384 $ 23,329,879
HIS Plan Fiduciary Net Position — Detailed information regarding the HIS Plan's fiduciary net position is
available in the separately issued FRS Pension Plan and Other State -Administered Systems
Comprehensive Annual Financial Report.
Payables to the HIS Plan — At September 30, 2016, the County reported no amounts payable for
outstanding contributions to the HIS Plan.
F-33
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
Investment Plan
The SBA administers the defined contribution plan officially titled the FRS Investment Plan. The
Investment Plan is reported in the SBA's annual financial statements and in the State of Florida
Comprehensive Annual Financial Report.
As provided in Section 121.4501, Florida Statutes, eligible FRS members may elect to participate in the
Investment Plan in lieu of the FRS defined benefit plan. County employees participating in DROP
are not eligible to participate in the Investment Plan. Employer and employee contributions, including
amounts contributed to individual members' accounts, are defined by law, but the ultimate benefit
depends in part on the performance of investment funds. Benefit terms, including contribution
requirements, for the Investment Plan are established and may be amended by the Florida Legislature.
The Investment Plan is funded with the same employer and employee contribution rates that are based
on salary and membership class (Regular Class, Elected County Officers, etc.), as the Pension Plan.
Contributions are directed to individual members' accounts, and the individual members allocate
contributions and account balances among various approved investment choices. Costs of administering
the Investment Plan, including the FRS Financial Guidance Program, are funded through an employer
contribution of 0.04% and 0.06% of payroll and by forfeited benefits of plan members for the periods
October 1, 2015 through June 30, 2016 and from July 1, 2016 through September 30, 2016, respectively.
Allocations to the investment members' accounts during the 2015-16 fiscal year, as established by
Section 121.72, Florida Statutes, are based on a percentage of gross compensation, by class, as follows:
Regular class 6.30%, Special Risk Administrative Support class 7.95%, Special Risk class 14.00%, Senior
Management Service class 7.67% and County Elected Officers class 11.34%.
For all membership classes, employees are immediately vested in their own contributions and are vested
after one year of service for employer contributions and investment earnings. If an accumulated benefit
obligation for service credit originally earned under the Pension Plan is transferred to the Investment
Plan, the member must have the years of service required for Pension Plan vesting (including the service
credit represented by the transferred funds) to be vested for these funds and the earnings on the funds.
Nonvested employer contributions are placed in a suspense account for up to five years. If the employee
returns to FRS -covered employment within the five-year period, the employee will regain control over
their account. If the employee does not return within the five-year period, the employee will forfeit
the accumulated account balance. For the fiscal year ended September 30, 2016, the information for
the amount of forfeitures was unavailable from the SBA; however, management believes that these
amounts, if any, would be immaterial to the County.
After termination and applying to receive benefits, the member may rollover vested funds to another
qualified plan, structure a periodic payment under the Investment Plan, receive a lump sum distribution,
leave the funds invested for future distribution, or any combination of these options. Disability
coverage is provided; the member may either transfer the account balance to the pension plan when
approved for disability retirement to receive guaranteed lifetime monthly benefits under the Pension
Plan, or remain in the Investment Plan and rely upon that account balance for retirement income.
F-34
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
The County's Investment Plan pension expense totaled $1,418,734 for the fiscal year ended September
30, 2016.
NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY
MEDICAL SERVICES
General Information about the Pension Plan
Plan Description — The Monroe County, Florida Volunteer Firefighter and Emergency Medical Services
Length of Service Award Plan (LOSAP) is a single -employer public employee retirement system defined
benefit pension plan created in 1999 and administered by the Board. LOSAP provides retirement and
death benefits to plan members and beneficiaries. Monroe County Ordinance 026-1999 defines the
authority under which contribution and benefit provisions may be amended. This authority is presently
held by the Board. LOSAP shall be administered in accordance with the requirements of Chapter 112,
Part VII, Florida Statutes.
Benefits Provided — Only Volunteer Firefighters and EMS Volunteers (Volunteers) are eligible at the sole
discretion of the Plan Administrator. Any Volunteer who was age 60 or older on January 1, 1999 shall not
be eligible to participate. In addition, any Volunteers who are age 60 or older at the time they commence
volunteer service, or who commence service at a time that will not permit them to earn ten years of service
by their Normal Retirement Age shall not be eligible to participate in this Plan.
Volunteer Firefighters must attain the rank of Structural Firefighter, Non -Structural Firefighter and or
Emergency Vehicle Driver -Operator prior to being credited with ten years of service. EMS Volunteers
must meet all requirements as defined by the State of Florida necessary to drive an emergency medical
care and transportation vehicle (ambulance) and/or attain certification as an Emergency Medical
Technician or Paramedic prior to being credited with ten years of service. Eligibility for vesting is
completion of ten years of service. The Plan shall be administered in accordance with the requirements of
Chapter 112, Part VU, Florida Statutes.
For each year of volunteer service, a participant will accrue a year of benefit accrual if the participant was
enrolled as a member of the nonprofit corporation or municipal service taxing unit (MSTU) and was
eligible for and received reimbursement of expenses for nine or more months of the year. Volunteers are
vested after completion of ten years of service prior to attainment of normal retirement age. Eligible
volunteers can receive an annual benefit of $1,800 for ten years of service up to $4,500 for 25 years of
service.
Employees Covered by Benefit Terms — LOSAP had 57 participants, of which 19 are active, 23 are
inactive and 15 are retired members for the plan year ended December 31, 2016 and the County's fiscal
year ending September 30, 2016. Separate, stand-alone financial statements for LOSAP are not provided.
Contributions — Contributions and benefits are calculated based on years of service, as the participants are
unpaid volunteers. As a result, there is no related covered payroll and no UALL as a percentage of covered
payroll.
F-35
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY
MEDICAL SERVICES (continued)
For each Plan Year, the Board shall appropriate funds from the budgets of the various fire/rescue MSTU's.
These funds will be applied as a contribution to the LOSAP trust account in an amount as determined by
the Plan Administrator as is necessary to fund the accrued or prospective benefits for Participants on an
actuarially sound basis and in accordance with Part VII of Chapter 112, Florida Statutes. There are no
participant contribution requirements. The authority under which those obligations are established is the
Monroe County Ordinance No. 026-1999.
Net Pension Liability
The County's net pension liability was measured as of January 1, 2016, and the total pension liability used
to calculate the net pension liability was determined by an actuarial valuation as of that date.
Actuarial Assumptions — The significant actuarial assumptions used to compute the pension benefit
obligation in the January 1, 2016 valuation for the period of January 1, 2015 through December 31, 2015
were:
1. Investment Yield: 1.0% for both present and future
2. Mortality Pattern: Not applicable
3. Salary increases: Not applicable; benefits not based on salary
4. Termination: Godwin's Table 1, V Select & Ultimate Table, with 50% termination probability for
YOS<1
5. Inflation: No increase, as benefits are based on a flat amount per year of service
The projection of cash flows used to determine the discount rate assumed that plan member contributions
will be made at the applicable current contribution rates and that County contribution will be made at rates
equal to the difference between actuarially determined contributions and member contributions. Based
on those assumptions, the fiduciary net position for the LOSAP pension plans 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 LOSAP's investments was applied to all periods of projected benefit payments to
determine the total pension liability for each plan.
Summary of Significant Accounting Policies — The financial statements of LOSAP are prepared using the
accrual basis of accounting. The contributions are recognized when due. Benefits are recognized when
due and payable in accordance with the terms of LOSAP. Administrative costs are paid by the Board.
Actuarial valuation costs are paid by LOSAP. All plan investments are reported at fair value.
The resources in the LOSAP fund have been set aside to pay future obligations of the LOSAP but are not
held in a trust that meets the criteria outlined in GASB Statement No. 67, paragraph 3 and GASB
Statement No. 68, paragraph 4.
F-36
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY
MEDICAL SERVICES (continued)
Investments — Investments are pooled with all County investments and are held in accordance to the
investment policy included in Note 1. All plan investments consist of U.S. Government and U.S.
Government -guaranteed obligations which represent more than 5.0% of the net position available for
benefits. There are no investments in, loans to or leases with any public employee retirement system
official, government employer official, party related to a public employee retirement system official or
government employer official, nonemployee contributor, or organization included in the reporting entity.
Discount Rate — The discount rate used to measure the total pension liability was 1.00% (no change from
the prior measurement period). The projection of cash flows used to determine the discount rate assumed
that employee contributions will be made at the current contribution rate and that the County contributions
will be made at rates equal to the difference between actuarially determined contribution rates and the
employee rate. Based on those assumptions, the pension plan's fiduciary net position was projected to be
available to make all projected future benefit payments of current active and inactive employees.
Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of
projected benefit payments to determine the total pension liability.
Changes in Total Pension Liability
Balance at 111115 $
887,336
Changes for the year:
Service cost
16,394
Interest
8,895
Differences between expected and actual experience
33,108
Benefit payments, including refunds of employee contributions
(28,365)
Net changes
30,032
Balance at 12/31/15 $
917,368
Sensitivity of the Net Pension Liability to Changes in the Discount Rate — The following chart presents
the net pension liability (asset) of LOSAP using the current discount rate, as well as what the County's
net pension liability would be if it were calculated using a discount rate that is one percentage point lower
or one percentage point higher than the current rate.
F-37
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY
MEDICAL SERVICES (continued)
1 % Current
Decrease Discount Rate 1 % Increase
(0.00%) (1.00%) (2.00%)
Net Pension Liability (Asset) $ 980,305 $ 917,368 $ 813,032
Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related
to Pensions
For the year ended September 30, 2016, the County recognized pension expense of $28,365. At September
30, 2016, the County reported deferred outflows of resources and deferred inflows of resources related to
pensions from the following sources, which will be amortized in future periods on substantially a straight
line basis:
Deferred Outflows Deferred Inflows of
of Resources Resources
Net difference between projected and actual
earnings on pension plan investments $ - $ 173
Total
F-38
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 11— CAPITAL AND OTHER SIGNIFICANT COMMITMENTS
Construction projects and significant commitments, excluding encumbrances reported below, under
present contractual agreements as of September 30, 2016 are as follows:
Cudjoe Regional Wastewater
$ 16,978,649
Bernstein Park
7,455,873
MCDC HVAC
1,470,943
Long Key Wastewater
1,261,643
Crawl Key Fire Training
883,889
Plantation Key Courthouse and Det. Center
854,063
Card Sound Bridge Repair
814,996
Lake Surprise
460,508
Higgs Beach - Atlantic Boulevard
245,744
ADA E. Martello
148,550
Marathon Library
140,574
KWIAP Customs
118,884
Cudjoe Fire Station
255,025
Jackson Sq Chiller
161,375
KWIAP Fence
142,319
Others (less than $100,000)
459,610
Total
$ 31,852,645
The entire construction costs of the Cudjoe Regional Wastewater project are estimated at $196.53 million.
There is an interlocal agreement between the County and the Florida Keys Aqueduct Authority (FKAA)
for this project. The County obtained partial funding through grants and the issuance of revenue notes
backed by the pledge of the infrastructure sales surtax and wastewater special assessments to provide
funding to FKAA for the administration, planning and construction of wastewater projects. The amount
shown above as a construction commitment is the amount remaining on the interlocal agreement as of
September 30, 2016.
F-39
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 11— CAPITAL AND OTHER SIGNIFICANT COMMITMENTS (continued)
Significant encumbrance commitments at September 30, 2016 are as follows:
Encumbrance
Governmental Activities:
General Fund
$ 61,177
Road and Bridge Fund
359,635
Governmental Grants Fund
2,190,198
One Cent Infrastructure Surtax
3,248,698
Series 2014 Revenue Bonds
247,067
Nonmajor Governmental Funds
178,601
Total Governmental Activities
6,285,376
Business -Type Activities
Municipal Service District Waste 10,220
Key West Airport 1,575,644
Marathon Airport 1,949,288
Passenger Facility Charge 561,753
Total Business -Type Activities 4,096,905
Total Encumbrances
NOTE 12 — LEASE OBLIGATIONS
$ 10,382,281
The County leases office space and equipment under operating lease agreements. Total lease payments
made in the year ended September 30, 2016 were $6,820,534. The following is a schedule by years of
future minimum rentals under non -cancelable operating leases for the fiscal year ended September 30:
2017
$ 5,336,494
2018
5,048,993
2019
5,086,957
2020
4,771,635
2021
4,482,841
2022-2026
11,856,698
Total $ 36,583,618
F-40
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 13 — LONG-TERM DEBT
Long-term debt activity for the year ended September 30, 2016 is as follows:
Current Portion
of Long-term
Begriming Balances Additions Payments Ending Balances Liabilities
Governmental activities:
Revenue Bonds Payable $
41,580,227
$ 16,065,000
$ 3,796,091
$ 53,849,136
$ 7,056,091
Revenue Notes Payable*
59,480,817
33,068,998
464,695
92,085,120
477,373
Line of Credit
16,000,000
-
16,000,000
-
-
Mayfield Agreement (KLWTD)
15,566,220
1,433,780
1,000,000
16,000,000
1,000,000
Accrued Comp. Absences
11,144,612
6,783,853
6,269,305
11,659,160
2,331,832
OPEB Liability
36,323,486
5,281,000
3,537,794
38,066,692
-
PensionLiability - FRS
59,380,446
51,796,095
8,940,106
102,236,435
-
PensionLiability - LOSAP
887,336
58,397
28,365
917,368
-
Total Governmental Activities
240,363,144
114,487,123
40,036,356
314,813,911
10,865,296
Business -type Activities
Landfill Closure Costs
173,965
1,566
-
175,531 -
Accrued Comp. Absences
350,878
274,446
235,620
389,704 77,942
OPEB Liability
1,777,000
203,000
117,659
1,862,341 -
Pension Liability
2,527,969
2,072,931
369,334
4,231,566 -
Total Business -type Activities
4,829,812
2,551,943
722,613
6,659,142 77,942
Total Long -Tenn Debt
$ 245,192,956
$ 117,039,066
$ 40,758,969
$ 321,473,053 $ 10,943,238
* Additions includes capitalized interest
Internal service fund long-term debt information is included in the governmental activities on the
government -wide financial statements, because the internal service funds predominately serve those
activities.
The current portion of the post -closure maintenance liability is expected to be insignificant and will be
funded by the County's operations budget instead of the related escrow funds required by federal and state
laws. Accordingly, the entire post -closure maintenance liability is classified as long-term (see Note 16).
Governmental activities' compensated absences are liquidated by the funds to which the related employee
services relate.
The Group Insurance Internal Service Fund assesses a monthly premium per employee in each fund. The
monthly premiums paid by the various funds provide the resources necessary to liquidate the other
postemployment benefit obligations paid in the current year by the Group Insurance Internal Service Fund.
F-41
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 13 — LONG-TERM DEBT (continued)
The following summary reflects the County's bonds and notes as of September 30, 2016:
Governmental Activities
Revenue Bonds:
Infrastructure Sales Surtax Revenue Bonds, Series 2007
Infrastructure Sales Surtax Revenue Bonds, Series 2014
Infrastructure Sales Surtax Refunding Revenue Bond, Series 2016
Unamortized Original Issue Premium Series 2007
Total Revenue Bonds
Revenue Notes:
Clean Water State Revolving Fund Construction Loan Agreement 2010
Clean Water State Revolving Fund Construction Loan Agreement 2014
Total Revenue Bonds and Notes
Mayfield Agreement - Key Largo Wastewater Treatment District
Total Governmental Debt
F-42
$ 6,740,000
30,885,000
16,065,000
159,136
53,849,136
:,
92,085,120
16,000,000
$161,934,256
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 13 — LONG-TERM DEBT (continued)
Debt Service Funding Requirements — The total annual debt service requirements for bonds and notes
outstanding at September 30, 2016 are as follows:
Governmental Activities
Principal
Interest
Total
2017
$ 8,533,464
$ 1,407,708 $
9,941,172
2018
8,723,443
1,278,587
10,002,030
2019
7,078,777
1,005,483
8,084,260
2020
7,192,522
889,462
8,081,984
2021
7,311,642
770,809
8,082,451
2022-2026
36,413,865
2,003,873
38,417,738
2027-2031
2,262,503
124,098
2,386,601
Total Required Debt Service
77,516,216
$ 7,480,020 $
84,996,236
2014 Clean Water State Revolving Fund
Construction Loan Agreement*
84,418,040
Total Governmental Debt
$ 161,934,256
*2014 CW SRF notes are still in the drawdrown process. Debt service is required to begin June 15, 2018.
Long-term debt at September 30, 2016 is composed of the following issues:
$29,415,000 Infrastructure Sales Surtax Revenue Bonds, Series 2007
• Type: General Government Revenue Bonds
• Dated: November 2007
• Final maturity: Year 2018
• Principal payment date: April 1
• Interest payment dates: April 1 and October 1
• Interest rates: 4.0% to 5.0%
• Amount outstanding at September 30th: $6,740,000
• Reserve requirement: None; MBIA insured.
• Revenue pledged: All of the One Cent Local Government Infrastructure Sales Surtax accruing to
Monroe County. The total principal and interest remaining to be paid is $7,249,250. For the fiscal
year, principal and interest paid was $3,654,600 and total pledged revenue was $20,817,676.
• Purpose: To construct and acquire equipment and capital improvements.
• Call provisions: None
F-43
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 13 — LONGTERM DEBT (continued)
$31,885,000 Florida Infrastructure Sales Surtax Improvement and Refunding Revenue Bonds, Series 2014
• Type: General Government Revenue Bonds
• Dated: October 2014
• Final maturity: Year 2024
• Principal payment date: April 1
• Interest payment dates: April 1 and October 1
• Interest rate: 2.36%
• Amount outstanding at September 30th: $30,885,000
• Reserve requirement: None; MBIA insured.
• Revenue pledged: All of the One Cent Local Government Infrastructure Sales Surtax accruing to
Monroe County. The total principal and interest remaining to be paid is $34,254,018. For the
fiscal year, principal and interest paid was $1,240,686 and total pledged revenue was $20,817,676.
• Purpose: To construct and acquire equipment and capital improvements.
• Call provisions: None
$19,500,540 Clean Water State Revolving Fund Construction Loan Agreement
• Type: General Government Revenue Notes
• Dated: April 2010
• Final maturity: Year 2030
• Principal payment date: March 15 and September 15
• Interest payment dates: March 15 and September 15
• Interest rate: 2.71%
• Amount outstanding at September 30th: $7,667,080
• Reserve requirement: None
• Revenue pledged: Non -Ad Valorem Revenues in the General Fund, the Fine and Forfeiture Fund,
and the Unincorporated Area Service District Funds. The total principal and interest remaining to
be paid is $9,205,989. For the fiscal year, principal and interest paid was $681,938 and total
pledged revenue was $33,784,081.
• Purpose: Refund temporary financing for wastewater capital improvements.
• Call provisions: None
Clean Water State Revolvinz Fund Construction Loan Agreement
• The State awarded a total of $120,000,000 (original award plus four amendment awards) for
collection, transmission and treatment facilities under the State Revolving Fund loan program.
During the year ended September 30, 2016, loan draws of $31,147,188 were received and
accumulated interest of $1,921,809 capitalized resulting in an outstanding loan balance as of
September 30, 2016 of $84,418,040.
• Interest rate: various interest rates (2.39% - 3.07%) as of September 30, 2016
• Final maturity and payment: Details to be determined upon completion of draw process.
• Reserve requirement: None
F-44
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 13 — LONGTERM DEBT (continued)
• Revenue pledged: One Cent Local Government Infrastructure Sales Surtax and Cudjoe Regional
Wastewater special assessments. For the fiscal year, there were no principal and interest payments
made as the loan was still in the draw process and total pledged revenue was $22,470,294.
• Purpose: Financing for wastewater capital improvements.
• Call provisions: None
$16,000,000 Line of Credit
• Type: Line of Credit
• Dated: October 2014
• Final maturity: Year 2024
• Principal payment date: April 1
• Interest payment dates: April 1
• Interest rate: 70% of One -Month LIBOR plus 0.51% (WSJ Prime plus 4% 1/1/2017 — 4/l/2024)
• Amount outstanding at September 30th: $0
• Reserve requirement: None
• Revenue pledged: One Cent Local Government Infrastructure Sales Surtax. For the fiscal year,
interest paid was $16,135,736 and total pledged revenue was $20,817,676.
• Purpose: Capital improvements with respect to Cudjoe Regional Wastewater Project.
• Call provisions: None
• The balance of this line of credit was refinanced into the Infrastructure Sales Surtax Refunding
Revenue Bond, Series 2016
$16,065,000 Infrastructure Sales Surtax Refunding Revenue Bond, Series 2016
• Type: General Government Refunding Revenue Bond
• Dated: September 2016
• Final maturity: Year 2026
• Principal payment date: April 1
• Interest payment dates: April 1 and October 1
• Interest rate: 1.69%
• Amount outstanding at September 30th: $16,065,000
• Reserve requirement: None; MBIA insured.
• Revenue pledged: All of the One Cent Local Government Infrastructure Sales Surtax accruing to
Monroe County. The total principal and interest remaining to be paid is $18,127,844. For the fiscal
year, bond issuance cost of $65,000 was paid and total pledged revenue was $20,817,676.
• Purpose: To construct and acquire equipment and capital improvements.
• Call provisions: None
F-45
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 13 — LONGTERM DEBT (continued)
$17,000,000 Mayfield Interlocal Agreement
• Type: Inter -local Agreement
• Dated: May 2015
• Final maturity: Year 2026
• Principal payment date: April 1
• Interest payment dates: April 1
• Interest rate: N/A
• Amount outstanding at September 30th: $16,000,000
• Reserve requirement: None
• Revenue pledged: One Cent Local Government Infrastructure Sales Surtax. The total principal
remaining to be paid is $16,000,000. For the fiscal year, principal paid was $1,000,000, total
pledged revenue was $20,817,676.
• Purpose: Capital improvements with respect to Cudj oe Regional Wastewater Project
• Call provisions: None
• See Note 14 for additional information related to this agreement.
Current Refunding of Bonds
The County issued $16,065,000 in Infrastructure Sales Surtax Improvement and Refunding Bonds, Series
2016 with an interest rate of 1.69% computed semi-annually (based on a 360-day year). The proceeds
were used to refund the $16,000,000 Line of Credit (Infrastructure Sales Surtax Master Revenue Bond,
Series 2014). The Line of Credit is considered extinguished and the liability has been removed from the
statement of net position.
The reacquisition price equaled the net carrying amount of the old debt. As a result, the County did not
record a deferred charge in the statement of activities. The County refunded the line of credit to reduce its
total debt service payments over ten years by $3,652,602 and to obtain an economic gain of $4,047,535.
NOTE 14 — INTERLOCAL AGREEMENT EXPENSE
Administered by the Florida Department of Environmental Protection (DEP), the Mayfield Grant is the
result of the State of Florida authorizing up to $200 million in grant funding to assist the Keys' wastewater
entities to complete central sewer and related projects.
In May 2015, Monroe County and Key Largo Wastewater Treatment District (KLWTD) entered into an
"inter -local agreement" (ILA) whereby KLWTD "assigned" its Mayfield grant allocation funding to
Monroe County in exchange for the County repaying those funds over a 10-year period.
As a result of the signed ILA between Monroe County and KLWTD, DEP sent Monroe County an
amendment to the Mayfield Grant to add the $17 million reallocated funds to the grant agreement between
DEP and Monroe County. The amendment: (1) provided the County an additional $17 million in Mayfield
grant funding; (2) reallocated the proj ect budget; and (3) extended the date of the completion of the project.
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 14 — INTERLOCAL AGREEMENT EXPENSE (continued)
The ILA created a transaction with two separate parts 1) a grant between DEP and Monroe County and 2)
a long-term liability payable to KLWTD from Monroe County. For part one, Monroe County recorded
grant revenue which was a reimbursement for capital expenditures already incurred in the Cudj oe Regional
Wastewater Proj ect fund. For part two, the County recorded a long-term liability on the government -wide
financial statements, which represents funding the County is obligated to pay KLWTD as a result of the
ILA. The offset to this liability was an interlocal agreement expense which represents the value of Monroe
County's "right" to receive the Mayfield Grant revenue forfeited by KLWTD.
NOTE 15 — CONDUIT DEBT
IDA Health Care Facilities Revenue Bonds, Series 2003 — The Monroe County Industrial Development
Authority approved the issuance of IDA Health Care Facilities Revenue Bonds, Series 2003, not to exceed
$2,500,000 and for a loan by the Authority to the Guidance Clinic of the Middle Keys, Inc. to provide for
the refinancing of certain outstanding indebtedness of the corporation and for financing certain capital
improvements to the corporation's health care facilities. Ownership of the acquired facilities is in the name
of the private entity served by the bond issuance. Neither the County, the Authority, the State, nor any
political subdivision thereof is obligated in any manner for the repayment of the bonds. Accordingly, the
bonds are not reported as liabilities in the accompanying financial statements. Maturity of the Series 2003
Bonds is August 1, 2018.
City of South Miami Health Facilities Authority Hospital Revenue Bonds, Series 2007 — On April 18,
2007, the Board approved an interlocal agreement with the City of South Miami Health Facilities
Authority for the issuance of $800,000,000 of tax-free bonds for Mariner's Hospital (Baptist Health South)
for the purpose of financing capital improvements to health care facilities and refunding outstanding
bonds. The facilities will be owned by the issuers of the bonds and the Board is not obligated in any way
for the repayment of the bonds. Monroe County was part of a group consisting of the State of Florida and
other units of local government that participated to establish the tax-free status of the bonds. Accordingly,
the bonds are not reported as liabilities in the accompanying financial statements. Maturity of the Series
2007 Bonds is August 15, 2042.
NOTE 16 — RECOGNITION OF CLOSURE AND POST -CLOSURE COST
As described in Note 1, current regulations of the U.S. Environmental Protection Agency (EPA) and the
Florida Department of Environmental Protection (FDEP) require municipal solid waste landfills to place
a final cover on closed landfill areas, and to maintain those areas for up to 30 years after closure. The
Board obtains updated and revised estimates of total future closure and post -closure costs from its
engineers.
All amounts recognized are based upon what it would cost to perform closure and post -closure functions
in current dollars. Actual costs may be different due to inflation, changes in technology, or changes in
laws and regulations.
F-47
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 16 — RECOGNITION OF CLOSURE AND POST -CLOSURE COST (continued)
Recognition of the liability for closure and post -closure costs is based on the landfill capacity used to date.
The landfill capacity of the Board's previously operated landfills, which include Cudjoe Key, Long Key,
and Key Largo, are 100% used and have no remaining landfill life. Closure of these landfills was
substantially completed during the year ended September 30, 1994. Previously, the County requested and
FDEP agreed to early release of all long-term care requirements for the Key Largo and Long Key landfills.
The Board also has a landfill site at Cudjoe Key which has never been used and the County does not
presently intend to use.
Accordingly, no future closure cost is accruable except for post -closure costs estimated to be incurred in
the coming year. At September 30, 2016, the estimated future cost for post -closure maintenance was
$175,531.
The cumulative effect of updated and revised estimates of closure -related costs is recognized in the period
of the change to the extent it relates to current and past operations. The Florida Department of
Environmental Protection approved a post -closure operating plan, which permits the Board to fund closure
and post -closure costs as an operating expense using annual appropriations. Since the current portion of
the post -closure maintenance liability is expected to be insignificant and will be funded by the County's
operations budget, the entire post -closure maintenance liability is classified as long term.
The landfill is required by state and federal laws and regulations to make annual contributions to a cash
escrow account to meet financial assurance requirements. During the year, additional funding of $13,050
and investment earnings of $2,628 were added to the escrow account. In accordance with laws and
regulations, the landfill had cash and investments of $1,766,307 held for these purposes at September 30,
2016. In the event closure escrows and interest earnings prove inadequate due to inflation, changes in
technology or additional post -closure care requirements, these costs may need to be covered by charges
to service users.
F-48
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 17 — INTERFUND BALANCES
During the course of operations, transactions occur which result in amounts owed to a particular fund by
another fund, other than for goods provided or services rendered. These receivables and payables are due
within a year and are classified as "Due from other funds/Due to other funds" on the governmental funds
balance sheet or proprietary fund statement of net position. Interfund balances as of September 30, 2016
were as follows:
Receivable Fund
Payable Fund
Amount
General Fund
Fine and Forfeiture
$ 5,656,416
HIDTA
140,350
Card Sound Bridge
178
Internal Service Funds
6,399
Nornnajor Governmental
3,907,697
Fine and Forfeiture
General Fund
1,523,202
Governmental Grants
General Fund
55,733
One Cent Infrastructure
Fine & Forfeiture
3,668,413
Big Coppitt Wastewater Project
General Fund
965
Cudjoe Regional Wastewater Project
12,649
Cudjoe Regional Wastewater Project
General Fund
3,075
Big Coppitt Wastewater Project
2,213,552
Card Sound Bridge
246,212
Internal Service Funds
417,183
Nornnajor Governmental
3,535,787
Municipal Service District Waste
General Fund
4,112
Marathon Airport
PFC Operations & Restrictions
17,390
Key West Airport
General Fund
39,409
PFC Operations & Restrictions
175,611
Internal Service Funds
General Fund
279,530
Nomnajor Governmental
Genenal Fund
1,888,620
HIDTA
633,475
Big Coppitt Wastewater Project
43,166
Cudjoe Regional Wastewater Project
2,646
Nornnajor Governmental
48,794
F-49
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 18 — INTERFUND TRANSFERS
Interfund transfers at September 30, 2016 are as follows:
Transfers to General Fund from:
One Cent Infrastructure Surtax Fund
S 178,428
Fine & Forfeiture Fund
43,564,415
Card Sound Bridge Fund
149,693
Municipal Service District -Waste
263,190
Internal Service Funds
579,520
Marathon Airport
50,153
Key West Airport
331,280
Nonmajor Governmental Funds
6,688,710
Total
51,805,389
Transfers to Fine & Forfeiture Fund from:
General Fumd
1,516,758
One Cent Infrastructure Surtax Fund
2,755,000
Transfers to Governmental Grants Fund from:
General Fund
269,954
Card Sound Bridge Fund
364,810
Nonmajor Governmental Funds
324,233
Total
958,997
Transfers to One Cent Infrastructure Surtax Fund from:
Big Coppit Wastewater Project
2,000,000
Governmental Grants Fund
50,000
Nonmajor Governmental Funds
2,500,000
Total
4,550,000
Transfers to Big Coppitt Wastewater Project Fund from:
General Fund
964
Transfers to Cudjoe Regional Wastewater Project Fund from:
General Fund
3,075
Nonmajor Governmental Funds
6
3,081
Transfers to Debt Service Fund from:
One Cent Infrastructure Surtax Fund
5,895,286
Big Coppitt Wastewater Project Fund
681,938
Total
6.577.224
Transfers to Nonmajor Governmental Funds from:
General Fund
1,465,278
One Cent Infrastructure Surtax Fund
7,600,000
Nonmajor Governmental Funds
6,174,300
Total
15,239,578
Transfers to Municipal Service District Waste Fund from:
General Fund
4,100
Transfers to Marathon Airport Fund from:
PFC Operations and Restrictions
17,390
Transfers to Key West Airport Fund from:
PFC Operations and Restrictions
198,970
TotaIInterfimd Transfers
S 83,627,451
F-50
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 18 — INTERFUND TRANSFERS (continued)
The One Cent Infrastructure Surtax Fund, a major fund, transferred $5,895,286 to the Debt Service Fund
to repay long-term debt. Similarly, the Big Coppitt Wastewater Project transferred $681,938 to the Debt
Service Fund for repayment of debt for this project.
The One Cent Infrastructure Surtax Fund also transferred $2,500,000 to the Fine and Forfeiture Fund for
the purchase of the Trauma Star helicopter, $1,400,000 to the Long Key Wastewater Project to fund the
start-up of this project and $6,000,000 to the Land Acquisition Fund.
Transfers to the Government Grants Fund of $958,997 represent funds needed to meet match
requirements.
The Employee Fair Share Housing Fund transferred $571,364 to the Building Fund for the development
of affordable housing.
The General Fund transferred $1,471 to the Special Miscellaneous Revenue fund to support the Legal
Scholarship Program.
The Passenger Facilities Charges (PFC) Fund transferred PFC receipts to the Marathon Airport Fund in
the amount of $17,390 and to the Key West International Airport in the amount of $198,970 to fund
approved projects by the Federal Aviation Administration (FAA). Among the FAA -approved projects
were evaluating and installing noise mitigation measures, strengthening airfield security, relocating
runway threshold lights, and rehabilitating the custom facilities.
The remaining transfers are related to supporting the County's operations.
NOTE 19 — GOVERNMENTAL FUND BALANCE CLASSIFICATIONS
Fund Balances are presented in the following categories; nonspendable, restricted, committed, assigned
and unassigned (see Note 1 for a description of these categories). A detailed schedule of governmental
fund balances at September 30, 2016 is on the following page.
F-51
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 19 — GOVERNMENTAL FUND BALANCE CLASSIFICATIONS (continued)
Governmental
General Fine and Forfeiture HIDTA Grants
Grants
Fund Balances:
Nonspendable:
Inventory
$ 3,728 S $
$
Total Nonspendable
3,728
Restricted for:
Law Enforcement
- 16,760,058
Fire and Ambulance
-
Public Safety
Physical Environment
Transportation
Housing Programs
Tourist Development
Human Services
Libraries
Library Donations
Cultural and Recreation
Court Programs
Comprehensive Planning
Federal and State Grants
1,619,760
Wastewater Projects
-
Other Purposes
Debt Service
-
Capital Projects
-
Total Restricted
- 16,760,058
1,619,760
Committed to:
Disaster Recovery
10,000,000 -
-
Physical Environment
-
SheriffContract Administration
Wastewater Projects
Beach Renourishment
-
Total Committed
10,000,000
Assigned to:
Other Purposes
61,177
Fire and Ambulance
-
Subsequent Year's Expenditures
12,718,217
Total Assigned
12,779,394
Unassigned:
15,490,123 -
-
Total Fund Balances
$ 38,273,245 S 16,760,058 S
S 1,619,760
F-52
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 19 — GOVERNMENTAL
FUND BALANCE CLASSIFICATIONS (continued)
One Cent
Big Coppitt Cudjoe Regional Nonmajor
Total
Infrastructure
Wastewater Wastewater Governmental
Governmental
Surtax
Project Project All Debt Service Funds
Funds
S
S S S S
S 3,728
3,728
15,582,464
32,342,522
2,033,134
2,033,134
6,555,985
6,555,985
3,342,506
3,342,506
14,353,888
14,353,888
1,536,312
1,536,312
31,299,399
31,299,399
965,988
965,988
1,082,082
1,082,082
298,523
298,523
1,590,591
1,590,591
7,480,606
7,480,606
5,508,470
5,508,470
-
1,619,760
345,455 23,345,841 9,478,501
33,169,797
- - 691,668
691,668
2,565,479 -
2,565,479
23,609,776
- - 7,315,861
30,925,637
23,609,776
345,455 23,345,841 2,565,479 109,115,978
177,362,347
- 10,000,000
1,638,208 1,638,208
1,159,146 1,159,146
373,597 373,597
211,254 211,254
3,382,205 13,382,205
- 61,177
5,276,737 5,276,737
- 12,718,217
5,276,737 18,056,131
- - - - - 15,490,123
S 23,609,776 S 345,455 S 23,345,841 S 2,565,479 S 117,774,920 S 224,294,534
F-53
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 20 — RISK MANAGEMENT
The County is exposed to various risks of loss related to tort; theft of, damage to, and destruction of assets;
errors and omissions; injuries to employees; and natural disasters. During the fiscal years ended 1976,
1984, and 1988, the Board established the Workers' Compensation, Group Insurance, and Risk
Management Funds, respectively, as internal service funds to account for and finance its uninsured risks
of loss.
Under these programs, the Workers' Compensation has self -insured coverage up to the first $500,000 per
claim for regular employees. Workers' Compensation claims in excess of the self -insured coverage of
$500,000 are covered by an excess insurance policy. The Group Insurance Fund provides self -insured
excess claims. Risk Management has a $5,000,000 excess insurance policy for general liability claims
with a $200,000 self -insured retention, and building property damage is covered for the actual value of
the building with a deductible of $50,000. Deductibles for windstorm and flood vary by location. The
Board purchases commercial insurance for claims in excess of coverage provided by the funds and for all
other risks of loss. Settled claims have not exceeded this commercial coverage in any of the past three
years.
All funds of the County participate in the programs and make payments to the Workers' Compensation,
Group Insurance and Risk Management Funds based on management's estimates of the amounts needed
to pay prior and current year claims. The claims liabilities reported are 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 indicates that it is probable that
a liability has been incurred at the date of the financial statements and the amount of the loss can be
reasonably estimated. These claim liabilities have not been discounted.
Changes in the claims liability amounts in fiscal years 2016 and 2015 were:
Unpaid Claims at Sept. 30, 2014
Incurred Claims
(Including IBNRs)
Claim Payments
Unpaid Claims at Sept. 30, 2015
Incurred Claims
(Including IBNRs)
Claim Payments
Worker's Group
Comp. Insurance Risk Mgmt Total
$ 1,210,936 $ 1,043,765 $ 193,455 $ 2,448,156
2,832,938 14,498,018 246,244 17,577,200
(3,125,920) (14,614,585) (250,354) (17,990,859)
917,954 927,198 189,345 2,034,497
1,991,437 16,899,485 226,680 19,117,602
(2,484,282) (16,798,211) (169,245) (19,451,738)
Unpaid Claims at Sept. 30, 2016 $ 425,109 $ 1,028,472 $ 246,780 $ 1,700,361
F-54
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 21— LITIGATION AND CLAIMS
The Board is a defendant in various lawsuits and is involved in other disputes wherein substantial amounts
are claimed. The Board vigorously defends itself with respect to these matters. The Board's practice is
to provide for these claims when a loss is probable and a loss becomes fixed or determinable in amount.
As a result of regulations adopted to protect the environment and manage growth, the Board is involved
in a handful of lawsuits. Most claims have been defeated to date, but two merit mention. In both of these
cases, the County and State of Florida are co-defendants and any amounts awarded are expected to be
apportioned between the parties.
In one regulatory takings claim, the trial court found the County and the State of Florida to be
liable. While the County expects to overturn the liability finding upon appeal, a valuation of the
property was necessary in order to ripen the appeal. By stipulation, the parties agreed that the
property at the time of the taking was valued at $175,000. After calculating pre judgment interest
due on that value, the Court entered a final judgment in the amount of $347,476 as of December
31, 2016 jointly and severally against the County and the State of Florida. Under the final
judgment, post judgment interest will accrue at approximately $22.77 per day depending on annual
adjustments to the statutory interest rate until that judgment is either satisfied or vacated. An award
of attorney fees and costs would be in addition to the amounts in the judgment. It is reasonably
estimated that, if the final judgment survives appeal, the trial court would enter an award of fees
and costs for approximately $250,000 though the Plaintiff s attorney has not disclosed the amount
of his claim at this juncture. In March 2017, the County and State appealed this final judgment;
resolution of that appeal is not expected prior to the end of FYI 7. The Board has not recorded any
liability for this claim in their financial statements due to the expectation that the liability finding
and thus the final judgment will be overturned upon appeal.
In the second regulatory takings claim, the liability has been judicially determined against the
County and State of Florida. In 2016, a jury valued the property at $285,500 as of the date of
taking. After calculating pre judgment interest due on that value, the Court entered a final
judgment in the amount of $480,512 as of June 1, 2016 jointly and severally against the County
and the State of Florida. Under the final judgment, post judgment interest will accrue at
approximately $64.64 per day depending on annual adjustment to the statutory interest rate until
that judgment is either satisfied or vacated. An award of attorney fees and costs would be in
addition to the amounts in the judgment. It is reasonably estimated that, if the final judgment
survives appeal, the trial court would enter an award of fees and costs for approximately $1 million
though the Plaintiff s attorney has not disclosed the amount of his claim at this juncture. The
property owner has appealed the final judgment; the County and the State have cross appealed the
underlying liability ruling. Resolution of the appeal is expected prior to the end of calendar year
2017. The Board has not recorded any liability for this claim in its financial statements due to the
expectation that the liability finding and thus the final judgment will be overturned upon appeal.
Nevertheless, in an abundance of caution, the estimate of $200,000 is reflected in the government -
wide financial statements of the County.
F-55
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2016
NOTE 21— LITIGATION AND CLAIMS (continued)
In the opinion of the Board, it is reasonably possible that there are other open suits and claims that could
result in judgments or settlements, which, in aggregate, would have a material adverse effect on the
Board's financial condition. Based on the uncertainty at this stage of the proceedings, an estimate of the
amount or a range of potential losses cannot be determined.
NOTE 22 — COMMITMENTS AND CONTINGENCIES
Grant Programs — The County participates in a number of federal and state grant programs that are
governed by various rules and regulations of the grantor agencies. Amounts received or receivable from
grant agencies are subject to financial and compliance audits by the grantors or their representatives. Any
disallowed claims, including amounts already collected, may constitute a liability of the applicable funds.
The amount, if any, which may be disallowed by the grantor, cannot be determined at this time, although
the County expects such amounts, if any, to be immaterial.
Impact Fee Refunds — Unexpended or unencumbered funds arising from the collection of impact fees may
be refunded within one year following the end of the sixth year from the date on which the impact fee was
paid or within three months of the non -commencement of construction.
NOTE 23 — RESTATEMENT
Effective October 1, 2015, the County adopted the provisions of GASB Statement 73, Accounting and
Financial Reporting for Pensions and Related Assets that are not within the Scope of GASB Statement 68.
The implementation of this statement required the County to reclassify the Volunteer Firefighter and
Emergency Medical Services Length of Service Award Pension Plan to the General Fund. As the
provisions of Statement No. 73 were effective October 1, 2015, net position and fund balance in the
General Fund as of that date has been adjusted as follows:
Beginning of year, as previously reported
Restatement of Pension Liability
Restatement of fiduciary net position
Total Restatement
Net position, beginning of year, as restated
NOTE 24 — SUBSEQUENT EVENTS
Net Position
Governmental
Activities
$ 429,827,212
(887,336)
865,891
(21,445)
$ 429,805,767
Fund Balance
General
Fund
$ 36,004,187
865,891
865,891
$ 36,870,078
Management has evaluated subsequent events through March 31, 2017, in connection with the preparation
of these financial statements, which is the date the financial statements were available to be issued.
F-56
REQUIRED SUPPLEMENTARY INFORMATION
MONROE COUNTY, FLORIDA
SCHEDULE OF MONROE COUNTY PROPORTIONATE SHARE OF NET PENSION LIABILITY
FLORIDA RETIREMENT SYSTEM
LAST 10 FISCAL YEARS*
Monroe County's proportion of the net pension liability
Monroe County's proportionate share of the net pension liability
Monroe County's covered -employee payroll
Monroe County's proportionate share of the net pension liability as a
percentage of its covered -employee payroll
Plan fiduciary net position as a percentage of the total pension liability
2016
0.316397501%
$ 79,890,617
$ 66,813,541
* The amounts presented for each fiscal year were determined as of June 30.
No data is available for the previous seven years.
119.57%
84.88%
2015
0.298789301%
$ 38,592,646
$ 70,133,038
55.03%
92.00%
2014
0.303954236%
$ 18,545,678
$ 69,338,053
26.75%
96.09%
G-1
MONROE COUNTY, FLORIDA
SCHEDULE OF MONROE COUNTY CONTRIBUTIONS
FLORIDA RETIREMENT SYSTEM
LAST 10 FISCAL YEARS*
2016 2015 2014
Contractually required contribution $ 7,715,858 $ 7,284,737 $ 6,657,888
Contributions in relation to the contractually required (7,715,858) (7,284,737) (6,657,888)
Contribution deficiency (excess) $ - $ - $ -
Monroe County's covered -employee payroll $ 66,813,541 $ 70,133,038 $ 69,338,053
Contributions as a percentage of covered-emloyee payroll 11.55% 10.39% 9.60%
* The amounts presented for each fiscal year were determined as of September 30.
No data is available for the previous seven years.
G-2
MONROE COUNTY, FLORIDA
SCHEDULE OF MONROE COUNTY PROPORTIONATE SHARE OF NET PENSION LIABILITY
HEALTH INSURANCE SUBSIDY PROGRAM
LAST 10 FISCAL YEARS*
Monroe County's proportion of the net pension liability
Monroe County's proportionate share of the net pension liability
Monroe County's covered -employee payroll
Monroe County's proportionate share of the net pension liability as a
percentage of its covered -employee payroll
Plan fiduciary net position as a percentage of the total pension liability
2016
0.228042287%
$ 26,577,384
$ 66,813,541
* The amounts presented for each fiscal year were determined as of June 30.
No data is available for the previous seven years.
39.78%
0.97%
2015
0.228621233%
$ 23,315,769
$ 70,133,038
33.25%
0.50%
2014
0.231240629%
$ 21,621,563
$ 69,338,053
31.18%
0.99%
G-3
MONROE COUNTY, FLORIDA
SCHEDULE OF MONROE COUNTY CONTRIBUTIONS
HEALTH INSURANCE SUBSIDY PROGRAM
LAST 10 FISCAL YEARS*
Contractually required contribution
Contributions in relation to the contractually required
Contribution deficiency (excess)
2016 2015 2014
$ 1,168,862 $ 873,933 $ 792,153
(1,168,862) (873,933) (792,153)
Monroe County's covered -employee payroll $ 66,813,541 $ 70,133,038 $ 69,338,053
Contributions as a percentage of covered-emloyee payroll 1.75% 1.25% 1.14%
* The amounts presented for each fiscal year were determined as of September 30.
No data is available for the previous seven years.
G-4
MONROE COUNTY, FLORIDA
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULES OF CHANGES IN THE COUNTY'S TOTAL PENSION LIABILITY AND RELATED RATIOS
PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES
LAST 10 FISCAL YEARS'
(DOLLAR AMOUNTS IN THOUSANDS)
Total pension liability
Service cost
Interest
Differences between expected and actual experience
Benefit payments, including refunds of employee contributions
Net change in total pension liability
Total pension liability - beginning
Total pension liability - ending
Covered -employee payroll
County's total position liability as a percentage of covered -employee payroll
Notes to Schedule:
2016
2015
2014
$ 16,394
$ 16,455
$ 18,434
8,895
8,054
12,219
33,108
89,397
(9,696)
(28,365)
(30,855)
(25,575)
30,032
83,051
(4,618)
887,336
804,285
808,903
$ 917,368
$ 887,336
$ 804,285
N/A
N/A
N/A
N/A
N/A
N/A
*This schedule is presented to illustrate the requirement to show information for 10 years. However, until a full 10-year trend is compiled,
governments should present information for those years for which information is available.
There are no assets accumulated in a trust, as defined by Statement of Governmental Accounting Standards No. 73, to pay benefits.
G-5
MONROE COUNTY, FLORIDA
REQUIRED SUPPLEMENTARY INFORMATION
YEAR ENDED SEPTEMBER 30, 2016
TEN YEAR SCHEDULE OF EMPLOYER CONTRIBUTIONS
PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES
Year Ending December 31, 2015 2014 2013 2012 2011
Actuarially determined contribution
Contributions in relation to the actuarially
determined contribution
Contribution deficiency (excess)
Covered employee payroll
Contributions as a percentage of covered employee
payroll
Notes to Schedule
$ 30,304 $ 28,575 $ 36,788 $ 28,145 $ 30,379
30,304 28,575 36,788 28,145 30,379
N/A N/A N/A N/A N/A
Valuation Date:
Actuarially determined contribution rates are calculated as of January 1, which is nine months prior to the
end of the fiscal year in which contributions are reported.
Methods and Assumptions used to determine contribution rates:
Inflation
Salary Increases
Investment rate of return
Retirement age
Mortality
No increase as benefits are based on a
flat amount per year of service
N/A
1.0% net of investment expenses,
including inflation
N/A
N/A
G-6
2010 2009 2008 2007 2006
$ 28,914 $ 30,791 $ 28,477 $ 24,233 $ 19,233
28,914 30,791 28,477 24,233 19,233
N/A N/A N/A N/A N/A
G-7
COMBINING AND INDIVIDUAL
FUND STATEMENTS AND SCHEDULES
NONMAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS
AFFORDABLE HOUSING PROGRAMS
To account for revenues and expenditures of various low income housing programs.
ROAD & BRIDGE
To account for revenues and expenditures of the constitutional gas taxes.
TOURIST DEVELOPMENT DISTRICTS
To account for the local option three -cent bed tax in five districts, all districts two cent, and
administrative and promotional funds for the expenditures of advertising, promotions, and special events
of the County's Tourist Development Council.
IMPACT FEES
To account for the revenues and expenditures relating to impact fees collected for roadways, parks and
recreation, libraries, solid waste, police facilities, fire and EMS, and fair share housing.
FIRE AND AMBULANCE DISTRICT #1, LOWER AND MIDDLE KEYS
To account for revenues and expenditures in District #1 for fire and ambulance services.
UPPER KEYS HEALTH CARE SPECIAL TAXING DISTRICT
To account for all transportation and hospitalization costs of Monroe County trauma patients in Dade
County.
UNINCORPORATED AREA SERVICE DISTRICTS
To account for all revenues and expenditures for planning, building and zoning, and parks and
recreation services provided only to the unincorporated area of the County.
LOCAL HOUSING ASSISTANCE SPECIAL REVENUE FUND
The Local Housing Assistance Fund is used to account for the revenues and expenditures for the
administration and implementation of the State Housing Initiatives Partnership Program.
MUNICIPAL POLICING
To account for all revenues and expenditures for local road patrol law enforcement in the City of
Marathon, City of Layton, and Islamorada, Village of Islands.
DUCK KEY SECURITY DISTRICT
To account for the revenues and expenditures in providing security services for the Duck Key District.
BOATING IMPROVEMENT
To account for revenues and expenditures for providing boating -related activities, for removal of vessels
and floating structures deemed a hazard to public safety and health, and for manatee and marine
mammal protection and recovery.
MISCELLANEOUS SPECIAL REVENUE
To account for revenues and expenditures earmarked for specific purposes.
ENVIRONMENTAL RESTORATION
To account for all revenue and expenditures for fines/fees collected and earmarked for environmental
protection.
(Continued)
NONMAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS — CONTINUED
COURT FACILITY FEES
To account for revenues collected upon the institution of any civil action, suit or proceeding to be used
exclusively in providing and maintaining existing and future facilities for the use of the Circuit and County
Court systems.
DRUG ABUSE TRUST
To account for assessments collected for drug abuse programs and to disburse assistance grants for
drug abuse treatment and/or educational programs which meet the standards for qualification of such
programs by the Department of Health and Rehabilitative Services.
MARATHON MUNICIPAL SERVICE
To account for the revenues and expenditures for municipal services for Marathon.
WASTEWATER MSTU
To account for the revenues and expenditures for wastewater services for Conch Key, Bay Point, Big
Coppitt, Key Largo, Stock Island, Cudjoe-Sugarloaf, Long Key -Layton, and Duck Key.
BUILDING FUND
To account for the revenues and expenditures relating to building permits and for the administration and
enforcement of the building code for the unincorporated area of the County.
SHERIFF'S INMATE COMMISSARY
To account for the receipts and disbursements of inmate telephone commissions, canteen revenues,
and other inmate programs.
SHERIFF'S GRANTS
To account for the revenues and expenditures relating to various grants.
SHERIFF'S TEEN COURT
To account for receipts and disbursements pertaining to a program designed to deter juveniles who are
becoming involved in crime.
SHERIFF'S SHARED ASSET FORFEITURE
To account for the revenues and expenditures of the Sheriff Department's shared asset forfeiture
program.
SHERIFF'S FEDERAL FORFEITURE
To account for the revenues from the U.S. Departments of Justice and Treasury. Expenditures are
made in accordance with the guidelines issued by these agencies.
SHERIFF'S CONTRACT ADMINISTRATIVE
To account for the receipts of service fees collected for administering HIDTA, South Florida Law
Enforcement Trust Fund, Impact Support, and the NHAC Financial Unit. Expenditures relate to the
costs of administering their activities.
SHERIFF'S STATE FORFEITURE
To account for the proceeds from state forfeitures received primarily from the South Florida Drug and
Money Laundering Task Force.
(Continued)
NONMAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS — CONTINUED
SHERIFF'S INTER -AGENCY COMMUNICATIONS
To account for revenues and expenditures allocated for radio communications.
SHERIFF'S E-911
To account for fees levied on each telephone access line in Monroe County for the enhancement of the
911 emergency telephone systems.
SHERIFF'S TRAUMA STAR
To account for revenues and expenditures for the Sheriff's operation of the Trauma Star helicopter.
SHERIFF'S RADIO COMMUNICATIONS
To account for revenues and expenditures from Court fees for radio communications.
CLERK'S MODERNIZATION TRUST
To account for revenue received through an additional recording fee pursuant to Florida Statute
28.24(15)(d) to be used for equipment, equipment maintenance, training, and technical assistance
necessary to modernize the clerk's public records system.
CLERK'S COURT RELATED
To account for revenues and expenditures for providing court related services under the direction of the
Clerk of the Circuit Court.
CAPITAL PROJECT FUNDS
CLERK'S REVENUE NOTE
To account for the Clerk's network system from the Florida Local Government Finance Commission
Loan.
INFRASTRUCTURE REVENUE BONDS SERIES 2007
To account for the revenues and expenditures funded by the Infrastructure Revenue Bonds Series 2007
debt issuance.
DUCK KEY WASTEWATER
To account for the revenues and expenditures of the wastewater infrastructure for Duck Key.
INFRASTRUCTURE REVENUE BONDS SERIES 2014
To account for the revenues and expenditures funded by the Infrastructure Revenue Bonds Series 2014
debt issuance.
LONG KEY WASTEWATER PROJECT
To account for the revenues and expenditures related to the construction of the Long Key Wastewater
Project.
LAND ACQUISITION FUND
To account for the revenues and expenditures related to Land Acquisition.
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2016
Tourist
Tourist
Affordable
Development
Development Tourist
Housing
Road and All Districts
Admin & Promo Development
Programs
Bridge Two Cent
Two Cent District One
ASSETS
Cash and Cash Equivalents $
62,168
$ 1,866,341 $
1,584,983 $
3,199,127 $
3,032,739
Investments
327,342
10,884,046
4,288,049
5,544,525
7,455,424
Accounts Receivable, Net
-
105
-
157
-
Assessments Receivable
-
-
-
-
-
Due from Other Funds
-
-
102,699
190,753
162,507
Due from Other Governmental Units
-
348,680
-
-
-
Mortgages/Notes Receivable
-
-
-
-
-
Allowance for Mortgages/Notes Receivable
-
-
-
-
-
Advances to Other Governments
-
-
-
-
-
Interest Receivable
760
22,473
9,522
14,756
12,931
Total Assets $
390,270
$ 13,121,645 $
5,985,253 $
8,949,318 $
10,663,601
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities:
Accounts Payable $
- $ 92,329 $
243,892 $
360,922 $
357,167
Retainage Payable
- -
-
-
2,209
Accrued Wages and Benefits Payable
- -
-
-
-
Due to Other Funds
- -
-
-
-
Due to Other Governmental Units
- 47,133
-
-
122,688
Other Current Liabilities
- 226
-
1,103
-
Deposits in Escrow
- -
-
-
-
Total Liabilities
- 139,688
243,892
362,025
482,064
Deferred Inflows of Resources:
Advances from Other Governments
- -
-
-
-
Unavailable Revenues
- -
-
-
-
Total Deferred Inflows of Resources
- -
-
-
-
Fund Balances:
Restricted
390,270 12,981,957
5,741,361
8,587,293
9,970,283
Committed
- -
-
-
211,254
Assigned
- -
-
-
-
Unassigned
- -
-
-
-
Total Fund Balances
390,270 12,981,957
5,741,361
8,587,293
10,181,537
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 390,270 $ 13,121,645 $ 5,985,253 $ 8,949,318 $ 10,663,601
H-1
REVENUE FUNDS
Tourist Tourist Tourist Tourist Impact Fees,
Development Development Development Development Impact Fees, Parks, and
District Two District Three District Four District Five Roadways Recreation
$ 259,852 $
899,258 $
590,812 $
610,090 $
231,489 $
102,347
637,500
1,893,586
1,108,113
1,376,217
1,441,138
533,550
15,515
46,340
30,827
34,762
-
-
1,168
2,960
2,327
2,274
5,947
1,075
$ 914,035 $
2,842,144 $
1,732,079 $
2,023,343 $
1,678,574 $
636,972
$ 63,495 $ 159,436 $ 146,431 $ 125,356 $ 1 $ 13,355
- 11,413 - - - -
- - - - 306,640 -
222 18 4,766 4 - -
63,717 170,867 151,197 125,360 306,641 13,355
850,318
2,671,277
1,580,882
1,897,983
1,371,933
623,617
850,318
2,671,277
1,580,882
1,897,983
1,371,933
623,617
$ 914,035 $ 2,842,144 $ 1,732,079 $ 2,023,343 $ 1,678,574 $ 636,972
(Continued)
H-2
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2016
SPECIAL
Impact Fees,
Impact Fees,
Impact Fees,
Impact Fees,
Impact Fees,
Fair Share
Libraries
Solid Waste
Police Facilities
Fire and EMS
Housing
ASSETS
Cash and Cash Equivalents
$ 172,299
$ 14,360
$ 16,723
$ 13,261
$ 3,893
Investments
903,445
74,600
85,683
68,166
20,496
Accounts Receivable, Net
1,839
-
-
-
-
Assessments Receivable
-
-
-
-
-
Due from Other Funds
-
-
-
-
-
Due from Other Governmental Units
2,527
-
-
-
-
Mortgages/Notes Receivable
-
-
-
-
-
Allowance for Mortgages/Notes Receivable
-
-
-
-
-
Advances
-
-
-
-
-
Interest Receivable
1,972
146
124
120
672
Total Assets
$ 1,082,082
$ 89,106
$ 102,530
$ 81,547
$ 25,061
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities:
Accounts Payable $ - $ - $ - $ - $ -
Retainage Payable - - - - -
Accrued Wages and Benefits Payable - - - - -
Due to Other Funds - - - - -
Due to Other Governmental Units - - - - -
Other Current Liabilities - - - - -
Deposits in Escrow - - - - -
Total Liabilities - - - - -
Deferred Inflows of Resources:
Advances from Other Governments - - - - -
Unavailable Revenues - - - - -
Total Deferred Inflows of Resources - - - - -
Fund Balances:
Restricted 1,082,082 89,106 102,530 81,547 25,061
Committed - - - - -
Assigned - - - - -
Unassigned - - - - -
Total Fund Balances 1,082,082 89,106 102,530 81,547 25,061
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 1,082,082 $ 89,106 $ 102,530 $ 81,547 $ 25,061
H-3
REVENUE FUNDS
Fire & Amb
Upper Keys
Unincorporated
Unincorporated
District One,
Health Care
Area Service
Area Service
Lower and
Special
District,
Dist, Planning Municipal
Middle Keys
Taxing District
Parks and Rec
Bldg and Zoning Policing
$ 963,211 $
120,707 $
144,365
$ 1,369,052 $
419,834
6,772,981
742,442
1,097,750
9,789,960
1,603,731
6,712
-
40
304
-
202,119
-
24,188
8,710
385,651
9,180
-
-
249,901
-
13,942
1,838
2,236
17,507
3,508
$ 7,968,145 $
864,987 $
1,268,579
$ 11,435,434 $
2,412,724
$ 247,539 $ 12,809 $ 38,225 $ 72,413 $ -
2,440,181 - 247,155 904,607 -
3,688 - 10,453 34,415 -
- - 5,772 143,003 -
2,691,408 12,809 301,605 1,154,438 -
- 852,178 966,974 10,280,996 2,412,724
5,276,737 - - - -
5,276,737 852,178 966,974 10,280,996 2,412,724
$ 7,968,145 $ 864,987 $ 1,268,579 $ 11,435,434 $ 2,412,724
(Continued)
H-4
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2016
SPECIAL
Duck Key
Local
Miscellaneous
Security
Housing
Boating
Special
District
Assistance
Improvement
Revenue
ASSETS
Cash and Cash Equivalents
$ 57,979
$ 193,748
$ 410,987
$ 495,415
Investments
361,785
1,020,670
2,125,296
2,293,322
Accounts Receivable, Net
-
-
-
-
Assessments Receivable
-
-
-
-
Due from Other Funds
-
-
-
50,590
Due from Other Governmental Units
-
-
-
-
Mortgages/Notes Receivable
-
8,476,848
-
-
Allowance for Mortgages/Notes Receivable
-
(8,476,848)
-
-
Advances
-
-
-
-
Interest Receivable
801
2,600
4,908
5,038
Total Assets
$ 420,565
$ 1,217,018
$ 2,541,191
$ 2,844,365
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities:
Accounts Payable $ 5,414 $ 72,544 $ 5,601 $ 14,738
Retainage Payable - - - -
Accrued Wages and Benefits Payable - - - -
Due to Other Funds - - - 31,168
Due to Other Governmental Units - 23,493 - 8,192
Other Current Liabilities - - - -
Deposits in Escrow - - - -
Total Liabilities 5,414 96,037 5,601 54,098
Deferred Inflows of Resources:
Advances from Other Governments - - - -
Unavailable Revenues - - - -
Total Deferred Inflows of Resources - - - -
Fund Balances:
Restricted 415,151 1,120,981 2,535,590 2,790,267
Committed - - - -
Assigned - - - -
Unassigned - - - -
Total Fund Balances 415,151 1,120,981 2,535,590 2,790,267
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 420,565 $ 1,217,018 $ 2,541,191 $ 2,844,365
H-5
REVENUE FUNDS
Court Drug Marathon Bay Point Big Coppitt
Environmental Facility Abuse Municipal Wastewater Wastewater
Restoration Fees Trust Service MSTU MSTU
$ 257,339 $
533,252 $
19,363 $
296 $
7,316 $ 119
1,385,180
2,651,943
98,121
1,552
38,761 885
-
40,522
2,337
-
- -
3,381
5,237
269
5
98 2
$ 1,645,900 $
3,230,954 $
120,090 $
1,853 $
46,175 $ 1,006
$ 7,692 $ 9,244 $ 6,280 $
- - - - - 401
7,692 9,244 6,280 - - 401
- 3,221,710 113,810 1,853 - -
1,638,208 - - - 46,175 605
1,638,208 3,221,710 113,810 1,853 46,175 605
$ 1,645,900 $ 3,230,954 $ 120,090 $ 1,853 $ 46,175 $ 1,006
(Continued)
H-6
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2016
SPECIAL
Key Largo Stock Island Cudjoe-
Wastewater Wastewater Sugarloaf Conch Key
MSTU MSTU MSTU MSTU
ASSETS
Cash and Cash Equivalents $
1,054 $
106,990 $ 462 $ 76
Investments
5,538
565,639 - 402
Accounts Receivable, Net
-
- - -
Assessments Receivable
-
257,239 - -
Due from Other Funds
-
1,077 - -
Due from Other Governmental Units
-
- - -
Mortgages/Notes Receivable
-
- - -
Allowance for Mortgages/Notes Receivable
-
- - -
Advances
-
- - -
Interest Receivable
14
1,268 - -
Total Assets $
6,606 $
932,213 $ 462 $ 478
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities:
Accounts Payable $
- $ 615 $ 462 $ -
Retainage Payable
- - - -
Accrued Wages and Benefits Payable
- - - -
Due to Other Funds
- - - -
Due to Other Governmental Units
- - - -
Other Current Liabilities
- - - -
Deposits in Escrow
- - - -
Total Liabilities
- 615 462 -
Deferred Inflows of Resources:
Advances from Other Governments
- - - -
Unavailable Revenues
- 255,562 - -
Total Deferred Inflows of Resources
- 255,562 - -
Fund Balances:
Restricted
- 676,036 - -
Committed
6,606 - - 478
Assigned
- - - -
Unassigned
- - - -
Total Fund Balances
6,606 676,036 - 478
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 6,606 $ 932,213 $ 462 $ 478
H-7
REVENUE FUNDS
Long Key, Sheriff's Sheriff's Sheriff's
Layton Duck Key Building Teen Federal State
MSTU MSTU Fund Court Forfeiture Forfeiture
$ 40,821 $
9,925 $
536,121 $
- $ 4,297,752 $ 119,380
216,680
52,262
3,963,360
- - 519,461
-
-
120
- - -
-
-
-
49,897 - -
-
-
-
4,361 - -
198
126
6,098
- - 1,148
$ 257,699 $
62,313 $
4,505,699 $
54,258 $ 4,297,752 $ 639,989
$ 279 $ - $ 145,591 $
- - 287,698 - -
- - 35,132 - - -
- - 8,110 - - -
279 - 476,531 - - -
- - 4,029,168 54,258 4,297,752 639,989
257,420 62,313 - - - -
257,420 62,313 4,029,168 54,258 4,297,752 639,989
$ 257,699 $ 62,313 $ 4,505,699 $ 54,258 $ 4,297,752 $ 639,989
(Continued)
H-8
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2016
ASSETS
Cash and Cash Equivalents
Investments
Accounts Receivable, Net
Assessments Receivable
Due from Other Funds
Due from Other Governmental Units
Mortgages/Notes Receivable
Allowance for Mortgages/Notes Receivable
Advances
Interest Receivable
Total Assets
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES
Liabilities:
Accounts Payable
Retainage Payable
Accrued Wages and Benefits Payable
Due to Other Funds
Due to Other Governmental Units
Other Current Liabilities
Deposits in Escrow
Total Liabilities
SPECIAL
Sheriff's Sheriff's Sheriff's
Contract Sheriff's Interagency Trauma
Administrative Commissary Communications Star
$ - $ 644,049 $ 399,674 $ 133,081
- 46,827 4,769 -
1,141,133 24 22,989 -
108,612 - 100 -
$ 1,249,745 $ 690,900 $ 427,532 $ 133,081
$ - $ 39,575 $ - $ -
86,167 19,152 10,200 133,081
4,432 - - -
90,599 58,727 10,200 133,081
Deferred Inflows of Resources:
Advances from Other Governments
- - - -
Unavailable Revenues
- 8,264 - -
Total Deferred Inflows of Resources
- 8,264 - -
Fund Balances:
Restricted
- 623,909 417,332 -
Committed
1,159,146 - - -
Assigned
- - - -
Unassigned
- - - -
Total Fund Balances
1,159,146 623,909 417,332 -
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 1,249,745 $ 690,900 $ 427,532 $ 133,081
H-9
REVENUE FUNDS
Sheriff's Sheriff's Clerk's Clerk's
Radio Sheriff's Shared Asset Sheriff's Records Court
Communication Grants Forfeiture E911 Modernization Related
$ 60,510 $ - $ 1,024,605 $ 2,002,115 $ 2,416,708 $ 517,651
- - 4,045,596 13,529 -
- - 938 - - -
- 8,179 - - 48,794 1,266
- 46,768 - - - 131,387
- - 21,648 - - -
$ 60,510 $ 54,947 $ 5,092,787 $ 2,015,644 $ 2,465,502 $ 650,304
$ - $ - $ 26,364 $ - $ - $ 291,377
60,510 54,947 - 48,093 - 346,169
- - - - - 12,758
60,510 54,947 26,364 48,093 - 650,304
- - 5,066,423 1,967,551 2,465,502 -
- - 5,066,423 1,967,551 2,465,502 -
$ 60,510 $ 54,947 $ 5,092,787 $ 2,015,644 $ 2,465,502 $ 650,304
(Continued)
H-10
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2016
ASSETS
Cash and Cash Equivalents
Investments
Accounts Receivable, Net
Assessments Receivable
Due from Other Funds
Due from Other Governmental Units
Mortgages/Notes Receivable
Allowance for Mortgages/Notes Receivable
Advances
Interest Receivable
Total Assets
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities:
Accounts Payable
Retainage Payable
Accrued Wages and Benefits Payable
Due to Other Funds
Due to Other Governmental Units
Other Current Liabilities
Deposits in Escrow
Total Liabilities
Deferred Inflows of Resources:
Advances from Other Governments
Unavailable Revenues
Total Deferred Inflows of Resources
Fund Balances:
Restricted
Committed
Assigned
Unassigned
Total Fund Balances
Total Liabilities, Deferred Inflows of
Resources and Fund Balances
CAPITAL PROJECT FUNDS
Total Nonmajor Clerk's Infrastructure Duck Key
Special Rev Revenue Revenue Bonds Wastewater
Funds Note Series 2007 Project
$ 29,963,699 $
24,007 $
1,386,732 $ 283,885
76,008,726
80,454
- 2,098,689
61,811
-
- -
257,239
-
- 591,360
2,570,879
-
- 45,822
901,516
-
- -
8,476,848
-
- -
(8,476,848)
-
- -
171,097
196
- 4,713
$ 109,934,967 $
104,657 $
1,386,732 $ 3,024,469
$ 2,559,146 $ - $ 2,500 $ 1,178
13,622 - - -
4,976,169 - 173,028 2,343,081
307,394 - - -
1, 329 - - -
156,885 - - -
8,014,545 - 175,528 2,344,259
263,826 - - 581,686
263,826 - - 581,686
92,997,654 104,657 1,211,204 98,524
3,382,205 - - -
5,276,737 - - -
101,656,596 104,657 1,211,204 98,524
$ 109,934,967 $ 104,657 $ 1,386,732 $ 3,024,469
H-11
Total
Infrastructure Long Key
Land Nonmajor
Revenue Bonds Wastewater
Acquisition Governmental
Series 2014 Project
Fund Funds
$ 7,746,489 $ 47,810 $
6,000,000 $ 45,452,622
- 252,381
- 78,440,250
- -
- 61,811
- -
- 848,599
- -
- 2,616,701
- 1,161,643
- 2,063,159
- -
- 8,476,848
- -
- (8,476,848)
- 203
- 176,209
$ 7,746,489 $ 1,462,037 $
6,000,000 $ 129,659,351
$ 355,598 $ - $ - $ 2,918,422
148,989 - - 162,611
- - - 7,492,278
- - - 307,394
- - - 1,329
- - - 156,885
504,587 - - 11,038,919
- - - 845,512
- - - 845,512
7,241,902 1,462,037 6,000,000 109,115,978
- - - 3,382,205
- - - 5,276,737
7,241,902 1,462,037 6,000,000 117,774,920
$ 7,746,489 $ 1,462,037 $ 6,000,000 $ 129,659,351
H-12
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Taxes
Licenses and Permits
Intergovernmental
Charges for Services
Fines and Forfeitures
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
General Government
Public Safety
Physical Environment
Transportation
Economic Environment
Human Services
Culture and Recreation
Court Related
Capital Projects
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Transfers from Other Funds
Transfers to Other Funds
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
SPECIAL
Tourist
Tourist
Affordable
Development
Development
Tourist
Housing
Road and
All Districts
Admin & Promo
Development
Programs
Bridge
Two Cent
Two Cent
District One
$ -
$ 2,534,862
$ 5,962,063
$ 12,354,567
$ 10,251,807
-
3,645,484
-
-
-
-
89,017
-
-
-
1,533
54,566
20,504
26,465
34,685
-
31,055
-
-
-
1,533
6,354,984
5,982,567
12,381,032
10,286,492
- 5,175,452 - - -
- - 6,124,253 12,956,174 8,480,184
- 5,175,452 6,124,253 12,956,174 8,480,184
1,533 1,179,532 (141,686) (575,142) 1,806,308
- 73,983 102,699 190,753 162,507
- (709,983) (77,871) (76,598) (59,799)
- (636,000) 24,828 114,155 102,708
1,533 543,532 (116,858) (460,987) 1,909,016
388,737 12,438,425 5,858,219 9,048,280 8,272,521
$ 390,270 $ 12,981,957 $ 5,741,361 $ 8,587,293 $ 10,181,537
H-13
REVENUE FUNDS
Tourist
Development
District Two
Tourist
Development
District Three
Tourist
Development
District Four
Tourist
Development
District Five
Impact Fees,
Roadways
Impact Fees,
Parks, and
Recreation
$ 986,794
$ 2,913,297
$ 1,949,297
$ 2,215,435
$ -
$ -
-
-
-
-
126,494
67,940
3,104
8,861
5,132
6,578
9,546
2,487
-
-
-
-
36,555
-
989,898
2,922,158
1,954,429
2,222,013
172,595
70,427
- - - - 92,270 -
981,516 2,097,390 1,566,047 1,833,670 - -
- - - - - 13,355
981,516 2,097,390 1,566,047 1,833,670 92,270 13,355
8,382 824,768 388,382 388,343 80,325 57,072
15,515 46,340 30,827 34,762 - -
(23,360) (16,494) (12,138) (37,424) (73,983) -
(7,845) 29,846 18,689 (2,662) (73,983) -
537 854,614 407,071 385,681 6,342 57,072
849,781 1,816,663 1,173,811 1,512,302 1,365,591 566,545
$ 850,318 $ 2,671,277 $ 1,580,882 $ 1,897,983 $ 1,371,933 $ 623,617
(Continued)
H-14
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Taxes
Licenses and Permits
Intergovernmental
Charges for Services
Fines and Forfeitures
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
General Government
Public Safety
Physical Environment
Transportation
Economic Environment
Human Services
Culture and Recreation
Court Related
Capital Projects
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Transfers from Other Funds
Transfers to Other Funds
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
SPECIAL
Impact Fees,
Impact Fees,
Impact Fees,
Impact Fees,
Libraries
Solid Waste
Police Facilities
Fire and EMS
43,788
7,993
29,467
12,756
4,195
344
397
312
47,983
8,337
29,864
13,068
47,983 8,337 29,864 13,068
47,983
8,337
29,864
13,068
1,034,099
80,769
72,666
68,479
$ 1,082,082 $
89,106 $
102,530 $
81,547
H-15
REVENUE FUNDS
Fire & Amb
Upper Keys
Unincorporated
Unincorporated
Impact Fees,
District One,
Health Care
Area Service
Area Service
Fair Share
Lower and
Special
District,
Dist, Planning
Municipal
Housing
Middle Keys
Taxing District
Parks and Rec
Bldg and Zoning
Policing
$ -
$ 9,992,794
$ -
$ 1,605,035
$ 646,077
$ 4,029,349
24,245
-
-
-
-
-
-
137,203
-
5,674
3,335,657
-
-
578,811
-
64,775
2,605,329
3,498,473
-
-
-
-
1,101,595
-
816
35,409
3,481
5,839
43,203
10,933
-
37,037
89,303
56,768
1,618
-
25,061
10,781,254
92,784
1,738,091
7,733,479
7,538,755
- - - - 2,368,811 -
- 10,582,788 - - 2,452,556 882,336
- - - - 642,126 -
- - 15,391 - - -
- - - 1,628,179 - -
- 10,582,788 15,391 1,628,179 5,463,493 882,336
25,061 198,466 77,393 109,912 2,269,986 6,656,419
- 202,119 - 24,188 8,310 385,651
(571,364) (1,406,682) (18,641) (209,962) (1,593,559) (6,998,344)
(571,364) (1,204,563) (18,641) (185,774) (1,585,249) (6,612,693)
(546,303) (1,006,097) 58,752 (75,862) 684,737 43,726
571,364 6,282,834 793,426 1,042,836 9,596,259 2,368,998
$ 25,061 $ 5,276,737 $ 852,178 $ 966,974 $ 10,280,996 $ 2,412,724
(Continued)
H-16
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Taxes
Licenses and Permits
Intergovernmental
Charges for Services
Fines and Forfeitures
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
General Government
Public Safety
Physical Environment
Transportation
Economic Environment
Human Services
Culture and Recreation
Court Related
Capital Projects
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Transfers from Other Funds
Transfers to Other Funds
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
SPECIAL
Duck Key
Local
Miscellaneous
Security
Housing
Boating
Special
District
Assistance
Improvement
Revenue
75,858
-
-
128,434
-
384,392
-
-
-
-
770,986
406,369
-
-
-
220,466
1,704
5,104
9,435
10,867
-
115,210
5,202
184,537
77,562
504,706
785,623
950,673
1,000 - - 4,471
66,817 - - 170,831
- - 487,785
- 602,629 - -
- - - 28,668
- - - 9,227
- - - 196,441
67,817 602,629 487,785 409,638
9,745 (97,923) 297,838 541,035
- - - 1,471
- - (94,654) (182,491)
- - (94,654) (181,020)
9,745 (97,923) 203,184 360,015
405,406 1,218,904 2,332,406 2,430,252
$ 415,151 $ 1,120,981 $ 2,535,590 $ 2,790,267
H-17
REVENUE FUNDS
Court
Drug
Marathon Bay Point
Big Coppitt
Environmental
Facility
Abuse
Municipal Wastewater
Wastewater
Restoration
Fees
Trust
Service MSTU
MSTU
$ - $
- $
-
$ 2 $ -
$ 13
-
460,105
28,206
- -
-
533,013
-
-
- -
-
7,249
12,450
508
7 183
5
540,262
472,555
28,714
9 183
18
872,982
-
-
- 733
838
-
-
55,889
- -
-
-
180,136
-
- -
-
872,982
180,136
55,889
- 733
838
(332,720) 292,419 (27,175) 9 (550) (820)
(24,862) - (2,043) - - -
(24,862) - (2,043) - - -
(357,582) 292,419 (29,218) 9 (550) (820)
1,995,790 2,929,291 143,028 1,844 46,725 1,425
$ 1,638,208 $ 3,221,710 $ 113,810 $ 1,853 $ 46,175 $ 605
(Continued)
H-18
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
SPECIAL
Key Largo
Stock Island
Cudjoe-
Wastewater
Wastewater
Sugarloaf
Conch Key
MSTU
MTSU
MSTU
MSTU
REVENUES:
Taxes
$ 2
$ -
$ -
$ -
Licenses and Permits
-
26,494
-
-
Intergovernmental
-
-
-
-
Charges for Services
-
-
-
-
Fines and Forfeitures
-
-
-
-
Investment Income
24
13,317
1
9
Miscellaneous
-
3,575
-
-
Total Revenues
26
43,386
1
9
EXPENDITURES:
Current:
General Government
-
1,000
-
-
Public Safety
-
-
-
-
Physical Environment
-
19,039
-
-
Transportation
-
-
-
-
Economic Environment
-
-
-
-
Human Services
-
-
-
-
Culture and Recreation
-
-
-
-
Court Related
-
-
-
-
Capital Projects
-
-
-
-
Total Expenditures
-
20,039
-
-
Excess/Deficiency of Revenues
Over (Under) Expenditures
26
23,347
1
9
OTHER FINANCING SOURCES (USES):
Transfers from Other Funds
-
513
-
-
Transfers to Other Funds
-
-
(6)
-
Total Other Financing Sources (Uses)
-
513
(6)
-
Net Change in Fund Balances
26
23,860
(5)
9
Fund Balances - October 1
6,580
652,176
5
469
Fund Balances - September 30
$ 6,606
$ 676,036
$ -
$ 478
H-19
REVENUE FUNDS
Long Key,
Layton
MSTU
Duck Key Building
MSTU Fund
Sheriff's
Teen
Court
Sheriff's
Federal
Forfeiture
Sheriff's
State
Forfeiture
4,417
- 4,761,298
-
-
-
-
- -
-
149,903
-
-
- 116,931
49,087
-
-
-
- -
-
-
48,372
1,008
348 16,512
-
22,709
2,486
-
- 39,190
-
-
-
5,425
348 4,933,931
49,087
172,612
50,858
-
3,741
-
321
3,563,281
-
54,994
-
427,699
-
78,993
-
3,741
321
3,563,281
54,994
427,699
78,993
1,684
27
1,370,650
(5,907)
(255,087)
(28,135)
-
-
-
-
571,364
(509,033)
-
-
-
-
-
-
-
-
62,331
-
-
-
1,684
255,736
27
62,286
1,432,981
2,596,187
(5,907)
60,165
(255,087)
4,552,839
(28,135)
668,124
$ 257,420 $
62,313 $
4,029,168 $
54,258 $
4,297,752
$ 639,989
(Continued)
H-20
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
SPECIAL
Sheriff's
Sheriff's
Sheriff's
Contract
Sheriff's
Interagency
Trauma
Administrative
Commissary
Communications
Star
REVENUES:
Taxes
$ -
$ -
$ - $
-
Licenses and Permits
-
-
-
-
Intergovernmental
294,385
-
-
-
Charges for Services
3,440,314
538,292
28,787
-
Fines and Forfeitures
-
-
-
-
Investment Income
2,939
2,927
2,151
-
Miscellaneous
-
12,221
-
-
Total Revenues
3,737,638
553,440
30,938
-
EXPENDITURES:
Current:
General Government
Public Safety
Physical Environment
Transportation
Economic Environment
Human Services
Culture and Recreation
Court Related
Capital Projects
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
3,663,873
460,187
159,246
4,277,252
3,663,873
460,187
159,246
4,277,252
73,765 93,253 (128,308) (4,277,252)
OTHER FINANCING SOURCES (USES):
Transfers from Other Funds 9,598 - 128,860 4,410,333
Transfers to Other Funds - - - (133,081)
Total Other Financing Sources (Uses) 9,598 - 128,860 4,277,252
Net Change in Fund Balances 83,363 93,253 552 -
Fund Balances - October 1 1,075,783 530,656 416,780 -
Fund Balances - September 30 $ 1,159,146 $ 623,909 $ 417,332 $ -
H-21
REVENUE FUNDS
Sheriff's
Sheriff's
Clerk's
Clerk's
Radio
Sheriff's
Shared Asset
Sheriff's
Records
Court
Communication
Grants
Forfeiture
E911
Modernization
Related
-
317,382
-
-
-
593,254
26,699
-
-
458,175
279,893
998,108
-
-
-
-
164,351
1,248,535
-
-
126,835
10,856
15,309
2,537
-
-
-
-
-
1,554
26,699
317,382
126,835
469,031
459,553
2,843,988
441,606
431,035
134,020
557,825
-
-
-
-
-
-
623,784
3,199,762
441,606
431,035
134,020
557,825
623,784
3,199,762
(414,907) (113,653) (7,185) (88,794) (164,231) (355,774)
475,417 113,653 - - - 650,141
(60,510) - - - - (294,367)
414,907 113,653 - - - 355,774
- - (7,185) (88,794) (164,231) -
- - 5,073,608 2,056,345 2,629,733 -
$ - $ - $ 5,066,423 $ 1,967,551 $ 2,465,502 $ -
(Continued)
H-22
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
CAPITAL PROJECT FUNDS
Total Nonmajor
Clerk's
Infrastructure
Duck Key
Special Rev
Revenue
Revenue Bonds
Wastewater
Funds
Note
Series 2007
Project
REVENUES:
Taxes
$ 55,441,394
$ -
$ -
$ -
Licenses and Permits
5,309,184
-
-
92,740
Intergovernmental
8,863,334
-
-
-
Charges for Services
14,438,357
-
-
-
Fines and Forfeitures
3,316,332
-
-
-
Investment Income
545,870
2,261
2,567
27,178
Miscellaneous
613,825
-
-
7,197
Total Revenues
88,528,296
2,261
2,567
127,115
EXPENDITURES:
Current:
General Government
2,375,282 - - -
Public Safety
28,405,339 - - -
Physical Environment
2,027,565 - - -
Transportation
5,267,722 - - -
Economic Environment
34,641,863 - - -
Human Services
99,948 - - -
Culture and Recreation
1,650,761 - - -
Court Related
4,200,123 - - -
Capital Projects
- - 19,071 126,922
Total Expenditures
78,668,603 - 19,071 126,922
Excess/Deficiency of Revenues
Over (Under) Expenditures 9,859,693 2,261 (16,504) 193
OTHER FINANCING SOURCES (USES):
Transfers from Other Funds 7,639,004 - - 574
Transfers to Other Funds (13,187,249) - - (2,500,000)
Total Other Financing Sources (Uses) (5,548,245) - - (2,499,426)
Net Change in Fund Balances 4,311,448 2,261 (16,504) (2,499,233)
Fund Balances - October 1 97,345,148 102,396 1,227,708 2,597,757
Fund Balances - September 30 $ 101,656,596 $ 104,657 $ 1,211,204 $ 98,524
H-23
Infrastructure Long Key Land
Revenue Bonds Wastewater Acquisition
Series 2014 Project Fund
Total
Nonmajor
Governmental
Funds
$ - $ - $ -
$ 55,441,394
- - -
5,401,924
- - -
8,863,334
- - -
14,438,357
- - -
3,316,332
34,986 394 -
613,256
- - -
621,022
34,986 394 -
88,695,619
43,979 -
- 2,419,261
25,641 -
- 28,430,980
- -
- 2,027,565
- -
- 5,267,722
- -
- 34,641,863
- -
- 99,948
- -
- 1,650,761
- -
- 4,200,123
2,009,024 138,357
- 2,293,374
2,078,644 138,357
- 81,031,597
(2,043,658) (137,963) - 7,664,022
- 1,600,000 6,000,000 15,239,578
- - - (15,687,249)
- 1,600,000 6,000,000 (447,671)
(2,043,658) 1,462,037 6,000,000 7,216,351
9,285,560 - - 110,558,569
$ 7,241,902 $ 1,462,037 $ 6,000,000 $ 117,774,920
H-24
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
AFFORDABLE HOUSING PROGRAMS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Investment Income
Total Revenues
EXPENDITURES:
Current:
Economic Environment:
Affordable Housing Initiatives
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
Reserve for Cash Balance
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Original Final
Budget Budget Actual
Variance with
Final Budget
Positive
(Negative)
$ 1,100 $ 1,100 $ 1,533 $ 433
1,100 1,100 1,533 433
290,000 290,000 - 290,000
290,000 290,000 - 290,000
(288,900) (288,900) 1,533 290,433
(9,360)
(9,360) -
9,360
(12,642)
(12,642) -
12,642
(22,002)
(22,002) -
22,002
(310,902)
(310,902) 1,533
312,435
310,902
310,902 388,737
77,835
Fund Balances - September 30 $ - $ - $ 390,270 $ 390,270
H-25
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
ROAD AND BRIDGE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Taxes
$ 2,335,000
$ 2,335,000
$ 2,534,862
$ 199,862
Intergovernmental
3,500,000
3,500,000
3,645,484
145,484
Charges for Services
62,500
62,500
89,017
26,517
Investment Income
35,000
35,000
54,566
19,566
Miscellaneous
22,700
22,700
31,055
8,355
Total Revenues
5,955,200
5,955,200
6,354,984
399,784
EXPENDITURES:
Current:
Transportation:
Road Department
4,180,136
4,180,134
3,039,672
1,140,462
County Engineer Road and Bridge
415,790
415,790
362,096
53,694
Street Lighting
244,132
244,132
227,928
16,204
Local Option Gas Tax Projects
357,583
357,583
304,753
52,830
80% Gas Tax
550,000
588,000
550,922
37,078
Paving Backlog
3,216,500
3,216,500
401,349
2,815,151
Sugarloaf Blvd Bridge
199,859
407,123
288,567
118,556
Sustainability Roads
-
35,000
-
35,000
Garrison Bight Bridge
-
7,817
165
7,652
Total Expenditures 9,164,000 9,452,079 5,175,452 4,276,627
Excess/Deficiency of Revenues
Over (Under) Expenditures (3,208,800) (3,496,879) 1,179,532 4,676,411
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
(279,579)
(26,498) -
26,498
Reserve for Cash Balance
(1,127,272)
(1,127,272) -
1,127,272
Transfers from Other Funds
73,983
73,983 73,983
-
Transfers to Other Funds
(3,520,047)
(3,485,049) (709,983)
2,775,066
Total Other Financing Sources (Uses)
(4,852,915)
(4,564,836) (636,000)
3,928,836
Net Change in Fund Balances (8,061,715) (8,061,715) 543,532 8,605,247
Fund Balances - October 1 8,061,715 8,061,715 12,438,425 4,376,710
Fund Balances - September 30 $ - $ - $ 12,981,957 $ 12,981,957
H-26
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, ALL DISTRICTS, TWO CENT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Taxes
Investment Income
Total Revenues
EXPENDITURES:
Current:
Economic Environment:
Cultural Umbrella
Fishing Umbrella
Dive Umbrella
Operations - Events
Catastrophic Emergency
Special Projects
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 5,533,500
$ 5,533,500
$ 5,962,063
$ 428,563
-
-
20,504
20,504
5,533,500
5,533,500
5,982,567
449,067
1,355,096
1,355,096
1,084,796
270,300
1,072,000
1,072,000
914,590
157,410
1,000,000
1,000,000
985,556
14,444
3,265,169
3,265,169
2,071,469
1,193,700
1,827,833
1,827,833
-
1,827,833
1,663,487
1,663,487
1,067,842
595,645
10,183,585 10,183,585 6,124,253 4,059,332
(4,650,085) (4,650,085) (141,686) 4,508,399
OTHER FINANCING SOURCES (USES):
Transfers to Other Funds (75,436) (75,436) (77,871) (2,435)
Transfers from Other Funds - - 102,699 102,699
Total Other Financing Sources (Uses) (75,436) (75,436) 24,828 100,264
Net Change in Fund Balances (4,725,521) (4,725,521) (116,858) 4,608,663
Fund Balances - October 1 4,725,521 4,725,521 5,858,219 1,132,698
Fund Balances - September 30 $ - $ - $ 5,741,361 $ 5,741,361
H-27
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, ADMINISTRATION AND PROMOTIONAL,
TWO CENT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Taxes
Investment Income
Total Revenues
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion
Administrative Services
Catastrophic Emergency
Special Projects
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 11,466,500
$ 11,466,500
$ 12,354,567
$ 888,067
-
-
26,465
26,465
11,466,500
11,466,500
12,381,032
914,532
11,371,858
11,371,858 10,327,735
1,044,123
1,334,088
1,334,088 936,331
397,757
2,272,167
2,272,167 -
2,272,167
1,692,336
1,692,336 1,692,108
228
16,670,449 16,670,449 12,956,174 3,714,275
(5,203,949) (5,203,949) (575,142) 4,628,807
OTHER FINANCING SOURCES (USES):
Transfers to Other Funds (263,502) (263,502) (76,598) 186,904
Transfers from Other Funds - - 190,753 190,753
Total Other Financing Sources (Uses) (263,502) (263,502) 114,155 377,657
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
(5,467,451) (5,467,451) (460,987) 5,006,464
5,467,451 5,467,451 9,048,280 3,580,829
$ - $ - $ 8,587,293 $ 8,587,293
H-28
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, DISTRICT ONE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Taxes
Investment Income
Total Revenues
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion
Administrative Services
Special Events
Bricks and Mortar
Information Services
Beaches
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Transfers to Other Funds
Transfers from Other Funds
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 9,671,300
$ 9,671,300
$ 10,251,807
$ 580,507
-
-
34,685
34,685
9,671,300
9,671,300
10,286,492
615,192
5,778,502
5,778,502
314,847
255,048
488,983
488,983
7,267,410
7,267,410
383,761
383,761
314,047
314,047
5,441,531
14,875
333,991
2,306,026
383,761
336,971
240,173
154,992
4,961,384
- 314,047
14,547,550 14,487,751 8,480,184 6,007,567
(4,876,250) (4,816,451) 1,806,308 6,622,759
- (59, 799)
(59, 799)
-
- -
162,507
162,507
- (59,799)
102,708
162,507
(4,876,250) (4,876,250)
1,909,016
6,785,266
4,876,250 4,876,250
8,272,521
3,396,271
$ - $ -
$ 10,181,537
$ 10,181,537
H-29
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, DISTRICT TWO SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Taxes
Investment Income
Total Revenues
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion
Administrative Services
Special Events
Bricks and Mortar
Information Services
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Transfers to Other Funds
Transfers from Other Funds
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 996,200
$ 996,200
$ 986,794
$ (9,406)
-
-
3,104
3,104
996,200
996,200
989,898
(6,302)
774,676
774,676
746,586
28,090
35,930
12,640
1,604
11,036
20,000
20,000
15,000
5,000
412,892
412,892
122,566
290,326
95,760
95,760
95,760
-
1,339,258 1,315,968 981,516 334,452
(343,058) (319,768) 8,382 328,150
- (23,290) (23,360) (70)
- - 15,515 15,515
- (23,290) (7,845) 15,445
(343,058) (343,058) 537 343,595
343,058 343,058 849,781 506,723
Fund Balances - September 30 $ - $ - $ 850,318 $ 850,318
H-30
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, DISTRICT THREE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Taxes
Investment Income
Total Revenues
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion
Administrative Services
Special Events
Bricks and Mortar
Information Services
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Transfers to Other Funds
Transfers from Other Funds
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 2,427,600
$ 2,427,600
$ 2,913,297
$ 485,697
-
-
8,861
8,861
2,427,600
2,427,600
2,922,158
494,558
1,333,751
1,333,751
1,301,368
32,383
77,447
61,091
3,220
57,871
60,520
60,520
55,648
4,872
1,612,480
1,612,480
569,154
1,043,326
168,000
168,000
168,000
-
3,252,198 3,235,842 2,097,390 1,138,452
(824,598) (808,242) 824,768 1,633,010
- (16,356) (16,494)
(138)
- - 46,340
46,340
- (16,356) 29,846
46,202
(824,598) (824,598) 854,614 1,679,212
824,598 824,598 1,816,663 992,065
Fund Balances - September 30 $ - $ - $ 2,671,277 $ 2,671,277
H-31
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, DISTRICT FOUR SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Taxes
Investment Income
Total Revenues
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion
Administrative Services
Special Events
Bricks and Mortar
Information Services
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Transfers to Other Funds
Transfers from Other Funds
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 1,864,900
$ 1,864,900
$ 1,949,297
$ 84,397
-
-
5,132
5,132
1,864,900
1,864,900
1,954,429
89,529
1,362,880
1,362,880
1,195,174
167,706
63,472
51,449
3,045
48,404
120,979
120,979
28,921
92,058
769,425
769,425
181,407
588,018
157,500
157,500
157,500
-
2,474,256 2,462,233 1,566,047 896,186
(609,356) (597,333) 388,382 985,715
- (12,023) (12,138)
(115)
- - 30,827
30,827
- (12,023) 18,689
30,712
(609,356) (609,356) 407,071 1,016,427
609,356 609,356 1,173,811 564,455
Fund Balances - September 30 $ - $ - $ 1,580,882 $ 1,580,882
H-32
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, DISTRICT FIVE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Taxes
Investment Income
Total Revenues
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion
Administrative Services
Information Services
Special Events
Bricks and Mortar
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Transfers to Other Funds
Transfers from Other Funds
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 2,040,000
$ 2,040,000
$ 2,215,435
$ 175,435
-
-
6,578
6,578
2,040,000
2,040,000
2,222,013
182,013
1,564,090
1,564,090
1,397,707
166,383
70,173
32,749
2,461
30,288
149,100
149,100
149,100
-
95,156
95,156
45,004
50,152
841,216
841,216
239,398
601,818
2,719,735 2,682,311 1,833,670 848,641
(679,735) (642,311) 388,343 1,030,654
- (37,424) (37,424) -
- - 34,762 34,762
- (37,424) (2,662) 34,762
(679,735) (679,735) 385,681 1,065,416
679,735 679,735 1,512,302 832,567
Fund Balances - September 30 $ - $ - $ 1,897,983 $ 1,897,983
H-33
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
IMPACT FEES - ROADWAYS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Licenses and Permits
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Transportation:
Roadway Projects
Truman Bridge Ped Bridge
Bike Lanes
Key Colony Beach Road Project
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Transfers to Other Funds
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 83,061
$ 83,061
$ 126,494
$ 43,433
9,464
9,464
9,546
82
-
-
36,555
36,555
92,525
92,525
172,595
80,070
220,403
170,403
- 170,403
929,520
929,520
- 929,520
63,598
113,598
92,270 21,328
35,554
35,554
- 35,554
1,249,075
1,249,075
92,270 1,156,805
(1,156,550) (1,156,550) 80,325 1,236,875
(73, 983) (73, 983) (73, 983) -
(73, 983) (73, 983) (73, 983) -
(1,230,533) (1,230,533) 6,342 1,236,875
1,230,533 1,230,533 1,365,591 135,058
$ - $ - $ 1,371,933 $ 1,371,933
H-34
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
IMPACT FEES - PARKS AND RECREATION SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Licenses and Permits
Investment Income
Total Revenues
EXPENDITURES:
Current:
Culture and Recreation:
District 1 Projects
District 2 Projects
District 3 Projects
Bay Point Park
Big Coppitt Park
Bernstein Park
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 28,341
$ 28,341
$ 67,940
$ 39,599
1,199
1,199
2,487
1,288
29,540
29,540
70,427
40,887
49,234
49,234
- 49,234
213,420
213,420
- 213,420
119,867
119,867
- 119,867
16,856
16,856
- 16,856
20,000
20,000
13,355 6,645
25,400
25,400
- 25,400
444,777 444,777 13,355 431,422
(415,237) (415,237) 57,072 472,309
(415,237) (415,237) 57,072 472,309
415,237 415,237 566,545 151,308
$ 623,617 $ 623,617
H-35
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
IMPACT FEES - LIBRARIES SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Licenses and Permits
Investment Income
Total Revenues
EXPENDITURES:
Current:
Culture and Recreation:
County -wide Library Projects
Library Automation
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 30,000
$ 30,000
$ 43,788
$ 13,788
2,700
2,700
4,195
1,495
32,700
32,700
47,983
15,283
798,585
21,297
798,585
21,297
- 798,585
- 21,297
819,882
819,882
- 819,882
(787,182)
(787,182)
47,983
835,165
(787,182)
(787,182)
47,983
835,165
787,182 787,182 1,034,099 246,917
$ 1,082,082 $ 1,082,082
H-36
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
IMPACT FEES - SOLID WASTE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Original Final
Budget Budget
Variance with
Final Budget
Positive
Actual (Negative)
REVENUES:
Licenses and Permits
$ 7,400 $
7,400 $
7,993 $ 593
Investment Income
150
150
344 194
Total Revenues
7,550
7,550
8,337 787
EXPENDITURES:
Current:
Physical Environment:
County -wide Solid Waste Projects
68,563
68,563
- 68,563
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
68,563 68,563 - 68,563
(61,013) (61,013) 8,337 69,350
(61,013) (61,013) 8,337 69,350
61,013 61,013 80,769 19,756
89,106 $ 89,106
H-37
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
IMPACT FEES - POLICE FACILITIES SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Licenses and Permits
Investment Income
Total Revenues
EXPENDITURES:
Current:
Public Safety:
County -wide Police Facility
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 17,500
$ 17,500
$ 29,467
$ 11,967
200
200
397
197
17,700
17,700
29,864
12,164
68,494 68,494 - 68,494
68,494 68,494 - 68,494
(50,794)
(50,794)
29,864
80,658
(50,794)
(50,794)
29,864
80,658
50,794 50,794 72,666 21,872
$ - $ - $ 102,530 $ 102,530
H-38
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
IMPACT FEES - FIRE AND EMS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Licenses and Permits
Investment Income
Total Revenues
EXPENDITURES:
Current:
Public Safety:
District 1 Fire & EMS Project
District 2 Fire & EMS Project
District 3 Fire & EMS Project
Key Colony Beach Fire & EMS
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 15,610
$ 15,605
$ 12,756
$ (2,849)
125
130
312
182
15,735
15,735
13,068
(2,667)
25,861
25,861
- 25,861
625
625
- 625
25,995
25,995
- 25,995
925
925
- 925
53,406 53,406 - 53,406
(37,671)
(37,671)
13,068
50,739
(37,671)
(37,671)
13,068
50,739
37,671 37,671 68,479 30,808
$ - $ - $ 81,547 $ 81,547
H-39
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
IMPACT FEES - EMPLOYEE FAIR SHARE HOUSING SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Licenses and Permits $ 5,000
$ 5,000
$ 24,245
$ 19,245
Investment Income 1,700
1,700
816
(884)
Total Revenues 6,700
6,700
25,061
18,361
EXPENDITURES:
Current:
Economic Environment:
District 1 Employee Fair Share Housing 155,000 - - -
District 3 Employee Fair Share Housing 145,000 - - -
Total Expenditures 300,000 - - -
Excess/Deficiency of Revenues
Over (Under) Expenditures (293,300) 6,700 25,061 18,361
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies (18,952) (6,365) - 6,365
Reserve for Cash Balance (47,660) - - -
Transfers to Other Funds - (571,364) (571,364) -
Total Other Financing Sources (Uses) (66,612) (577,729) (571,364) 6,365
Net Change in Fund Balances (359,912) (571,029) (546,303) 24,726
Fund
Balances - October 1
359,912 571,029 571,364
335
Fund
Balances - September 30
$ - $ - $ 25,061 $
25,061
H-40
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FIRE AND AMBULANCE DISTRICT ONE - LOWER AND MIDDLE KEYS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Taxes
Intergovernmental
Charges for Services
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Public Safety:
Fire Rescue - Central
Lower & Middle Keys Ambulance Dist
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
Reserve for Cash Balance
Transfers to Other Funds
Transfers from Other Funds
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 10,363,483 $ 10,363,483 $ 9,992,794 $ (370,689)
46,500
46,500
137,203
90,703
626,000
626,000
578,811
(47,189)
27,500
27,500
35,409
7,909
-
-
37,037
37,037
11,063,483
11,063,483
10,781,254
(282,229)
10,385,682 11,027,531 10,582,973 444,558
- - (185) 185
10,385,682 11,027,531 10,582,788 444,743
677,801 35,952 198,466 162,514
(641, 849)
- -
-
(2,004,502)
(2,004,502) -
2,004,502
(1,438,887)
(1,438,887) (1,406,682)
32,205
170,000
170,000 202,119
32,119
(3,915,238)
(3,273,389) (1,204,563)
2,068,826
(3,237,437) (3,237,437) (1,006,097) 2,231,340
3,237,437 3,237,437 6,282,834 3,045,397
$ - $ - $ 5,276,737 $ 5,276,737
H-41
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
UPPER KEYS HEALTH CARE SPECIAL TAXING DISTRICT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Human Services:
Trauma District Administration
Trauma Transportation and Treatment
Trauma Pretransportation
Trauma Facility Upgrade
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 3,000
$ 3,000
$ 3,481
$ 481
-
-
89,303
89,303
3,000
3,000
92,784
89,784
15,995
15,995
13,347 2,648
200,000
200,000
1,664 198,336
2,000
2,000
380 1,620
100
100
- 100
218,095 218,095 15,391 202,704
(215,095) (215,095) 77,393 292,488
Reserve for Contingencies (28,000) (28,000) - 28,000
Reserve for Cash Balance (36,114) (36,114) - 36,114
Transfers to Other Funds (18,641) (18,641) (18,641) -
Total Other Financing Sources (Uses) (82,755) (82,755) (18,641) 64,114
Net Change in Fund Balances
Fund Balances - October 1
(297,850) (297,850) 58,752 356,602
297,850 297,850 793,426 495,576
Fund Balances - September 30 $ - $ - $ 852,178 $ 852,178
H-42
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
UNINCORPORATED AREA SERVICE DISTRICT -
PARKS AND RECREATION SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Taxes
Intergovernmental
Charges for Services
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Culture and Recreation:
Parks and Beaches Unincorporated
Jacob's Aquatic Center
School Board Interlocal
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
Reserve for Cash Balance
Transfers to Other Funds
Transfers from Other Funds
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Original Final
Budget Budget Actual
Variance with
Final Budget
Positive
(Negative)
$ 1,662,725 $ 1,662,725 $ 1,605,035 $ (57,690)
-
-
5,674
5,674
40,000
40,000
64,775
24,775
4,000
4,000
5,839
1,839
58,000
58,000
56,768
(1,232)
1,764,725
1,764,725
1,738,091
(26,634)
1,506,069
1,506,069
1,421,679 84,390
180,000
180,000
180,000 -
29,500
29,500
26,500 3,000
1,715,569 1,715,569 1,628,179 87,390
49,156 49,156 109,912 60,756
(78,000)
(78,000) -
78,000
(340,555)
(340,555) -
340,555
(232,768)
(232,768) (209,962)
22,806
-
- 24,188
24,188
(651,323)
(651,323) (185,774)
465,549
(602,167) (602,167)
602,167 602,167
(75,862) 526,305
1,042,836 440,669
$ 966,974 $ 966,974
H-43
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
UNINCORPORATED AREA SERVICE DISTRICT - PLANNING,
BUILDING, AND ZONING SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Taxes
Intergovernmental
Charges for Services
Fines and Forfeitures
Investment Income
Miscellaneous
Total Revenues
Expenditures:
Current:
General Government:
Growth Mgmt County Attorney
Planning Department
2010 Comprehensive Plan
GIS
Planning Commission
Growth Mgmt Administration
Total General Government
Public Safety:
Code Enforcement
Fire and Rescue Coordinator
Fire Marshall
Fire Refund
Planning Refund
Total Public Safety
Physical Environment:
Environmental Resources
Total Physical Environment
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
Original Final
Budget Budget Actual
Variance with
Final Budget
Positive
(Negative)
$ 665,000 $ 665,000 $ 646,077 $ (18,923)
2,849,523
2,849,523
3,335,657
486,134
2,040,000
2,040,000
2,605,329
565,329
470,000
470,000
1,101,595
631,595
25,000
25,000
43,203
18,203
-
-
1,618
1,618
6,049,523
6,049,523
7,733,479
1,683,956
450,807
455,807
453,690
2,117
1,545,550
1,545,550
1,238,950
306,600
130,000
130,000
60,342
69,658
213,070
213,070
151,037
62,033
82,176
82,176
69,542
12,634
705,630
705,630
395,250
310,380
3,127,233
3,132,233
2,368,811
763,422
1,434,535
1,434,535
1,228,000
206,535
820,928
820,928
718,990
101,938
440,223
440,223
406,240
33,983
-
21,500
20,326
1,174
12,000
79,000
79,000
-
2,707,686
2,796,186
2,452,556
343,630
751,221 751,221 642,126 109,095
751,221 751,221 642,126 109,095
6,586,140 6,679,640 5,463,493 1,216,147
(536,617) (630,117) 2,269,986 2,900,103
(Continued)
H-44
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
UNINCORPORATED AREA SERVICE DISTRICT - PLANNING,
BUILDING, AND ZONING SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
Reserve for Cash Balance
Transfers to Other Funds
Transfers from Other Funds
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Original Final
Budget Budget Actual
Variance with
Final Budget
Positive
(Negative)
(468,426)
(332,426) -
332,426
(1,647,409)
(1,647,409) -
1,647,409
(1,588,393)
(1,630,893) (1,593,559)
37,334
4,500
4,500 8,310
3,810
(3,699,728)
(3,606,228) (1,585,249)
2,020,979
(4,236,345) (4,236,345) 684,737 4,921,082
4,236,345 4,236,345 9,596,259 5,359,914
$ - $ - $ 10,280,996 $ 10,280,996
H-45
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
MUNICIPAL POLICING SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Taxes
$ 4,177,433
$ 4,177,433
$ 4,029,349
$ (148,084)
Charges for Services
3,522,028
3,522,028
3,498,473
(23,555)
Investment Income
6,900
6,900
10,933
4,033
Total Revenues
7,706,361
7,706,361
7,538,755
(167,606)
EXPENDITURES:
Current:
Public Safety:
Insurance Unincorporated and Layton 543,749 513,749 466,889 46,860
Insurance Islamorada 226,995 256,995 236,736 20,259
Insurance Marathon 203,187 203,187 178,711 24,476
Total Expenditures 973,931 973,931 882,336 91,595
Excess/Deficiency of Revenues
Over (Under) Expenditures 6,732,430 6,732,430 6,656,419 (76,011)
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
(95,000)
(95,000) -
95,000
Reserve for Cash Balance
(807,462)
(807,462) -
807,462
Transfers to Other Funds
(7,008,657)
(7,008,657) (6,998,344)
10,313
Transfers from Other Funds
260,000
260,000 385,651
125,651
Total Other Financing Sources (Uses)
(7,651,119)
(7,651,119) (6,612,693)
1,038,426
Net Change in Fund Balances (918,689) (918,689) 43,726 962,415
Fund Balances - October 1 918,689 918,689 2,368,998 1,450,309
Fund Balances - September 30 $ - $ - $ 2,412,724 $ 2,412,724
H-46
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
DUCK KEY SECURITY DISTRICT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Licenses and Permits
Investment Income
Total Revenues
EXPENDITURES:
Current:
General Government:
Tax Collector
Public Safety:
Island Security
Total Expenditures
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 75,000
$ 75,000
$ 75,858
$ 858
1,100
1,100
1,704
604
76,100
76,100
77,562
1,462
2,250 2,250 1,000 1,250
247,500 247,500 66,817 180,683
249,750 249,750 67,817 181,933
Excess/Deficiency of Revenues
Over (Under) Expenditures (173,650) (173,650) 9,745 183,395
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies (35,398) (35,398) - 35,398
Reserve for Cash Balance (68,831) (68,831) - 68,831
Total Other Financing Sources (Uses) (104,229) (104,229) - 104,229
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
(277,879) (277,879) 9,745 287,624
277,879 277,879 405,406 127,527
$ 415,151 $ 415,151
H-47
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
LOCAL HOUSING ASSISTANCE
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Intergovernmental
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Economic Environment:
Homeowner Assistance 14
Homeowner Assistance 15
Homeowner Assistance 16
Fair Housing 14
Fair Housing 15
Fair Housing 16
Administration 14
Administration 15
Administration 16
Total Expenditures
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 373,310
$ 373,310
$ 384,392
$ 11,082
4,500
4,500
5,104
604
-
-
115,210
115,210
377,810
377,810
504,706
126,896
458,454
458,454
405,002
53,452
365,717
365,717
134,056
231,661
350,000
350,000
-
350,000
5,000
5,000
-
51000
5,000
5,000
-
51000
5,000
5,000
-
51000
35,500
35,500
35,500
-
35,500
35,500
28,071
7,429
35,500
35,500
-
35,500
1,295,671 1,295,671 602,629 693,042
Excess/Deficiency of Revenues
Over (Under) Expenditures
(917,861)
(917,861) (97,923)
819,938
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
(13,223)
(13,223) -
13,223
Reserve for Cash Balance
(13,222)
(13,222) -
13,222
Total Other Financing Sources (Uses)
(26,445)
(26,445) -
26,445
Net Change in Fund Balances
Fund Balances - October 1
(944,306) (944,306) (97,923) 846,383
944,306 944,306 1,218,904 274,598
Fund Balances - September 30 $ - $ - $ 1,120,981 $ 1,120,981
H-48
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BOATING IMPROVEMENT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Charges for Services
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Boating Improvement
Boating Imp Fees/Retained Vessel
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 655,000
$ 655,000
$ 770,986
$ 115,986
8,000
8,000
9,435
1,435
2,600
22,393
5,202
(17,191)
665,600
685,393
785,623
100,230
1,551,567 1,625,552 227,955 1,397,597
456,701 399,251 259,830 139,421
2,008,268 2,024,803 487,785 1,537,018
(1,342,668) (1,339,410) 297,838 1,637,248
Reserve for Contingencies (216,600) (30,667) - 30,667
Reserve for Cash Balance (303,391) (303,391) - 303,391
Transfers to Other Funds - (189,191) (94,654) 94,537
Total Other Financing Sources (Uses) (519,991) (523,249) (94,654) 428,595
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
(1,862,659) (1,862,659) 203,184 2,065,843
1,862,659 1,862,659 2,332,406 469,747
- $ 2,535,590 $ 2,535,590
H-49
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
MISCELLANEOUS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Licenses and Permits
Charges for Services
Fines and Forfeitures
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
General Government:
County Administrator
Conservation Land Purchase
Legal Scholar Program
Total General Government
Public Safety:
Education -Building Department
Environmental Resource Education
Fire and Rescue Bldg Education
Crime Prevention Program
Climate Leadership Summit
Total Public Safety
Human Services:
FL Keys Council for the Handicapped
Bayshore Donations
Traffic Education, Ord 021-2002
Legal Aid
Total Human Services
Culture and Recreation:
Settler's Park Landscaping
Library Special Programs
Library Donation -Golan Trust
Total Culture and Recreation
Variance with
Final Budget
Original Final
Budget Budget
Actual
Positive
(Negative)
$ - $ 128,433
$ 128,434
$ 1
- 324,260
406,369
82,109
- 91,605
220,466
128,861
- -
10,867
10,867
- 94,387
184,537
90,150
- 638,685
950,673
311,988
15,000 15,000 - 15,000
- 6,000 4,471 1,529
15,000 21,000 4,471 16,529
23,400
79,141
13,955
65,186
40,000
107,893
13,425
94,468
-
4,800
-
4,800
-
45,313
-
45,313
50,000
191,387
143,451
47,936
113,400
428,534
170,831
257,703
- 3,595
310 3,285
940 940
- 940
50,000 130,128
- 130,128
- 26,389
28,358 (1,969)
50,940 161,052
28,668 132,384
- 3,782
1,178
2,604
- 55,929
5,549
50,380
305,000 294,037
2,500
291,537
305,000 353,748
9,227
344,521
(Continued)
H-50
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
MISCELLANEOUS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Court Related:
Ord 016-2004 St Court Sup
SA Ct Tech FS28.24(12)(E)
PD Ct Tech FS28.24(12)(E)
J Ct Tech FS28.24(12)(E)
Total Court Related
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Original Final
Budget Budget Actual
Variance with
Final Budget
Positive
(Negative)
15,000
77,563
12,941
64,622
375,000
533,609
46,239
487,370
10,000
76,585
24,101
52,484
45,218
382,047
113,160
268,887
445,218
1,069,804
196,441
873,363
929,558 2,034,138 409,638 1,624,500
(929,558) (1,395,453) 541,035 1,936,488
Reserve for Contingencies (766,996) (251,326) - 251,326
Transfers to Other Funds (140,000) (192,775) (182,491) 10,284
Transfers from Other Funds - 3,000 1,471 (1,529)
Total Other Financing Sources (Uses) (906,996) (441,101) (181,020) 260,081
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
(1,836,554) (1,836,554) 360,015 2,196,569
1,836,554 1,836,554 2,430,252 593,698
- $ 2,790,267 $ 2,790,267
H-51
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
ENVIRONMENTAL RESTORATION SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Fines and Forfeitures
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Environmental Restoration
KLWT Plant Site Mitg Pro
Total Environmental Restoration
Culture and Recreation:
Settler's Park
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 255,000
$ 255,000
$ 533,013
$ 278,013
4,700
4,700
7,249
2,549
259,700
259,700
540,262
280,562
231,724
206,724
179,022
27,702
694,677
694,677
693,960
717
926,401
901,401
872,982
28,419
- 9,083 - 9,083
926,401 910,484 872,982 37,502
(666,701) (650,784) (332,720) 318,064
Reserve for Contingencies (138,564) (129,481) - 129,481
Reserve for Cash Balance (266,241) (266,241) - 266,241
Transfers to Other Funds - (25,000) (24,862) 138
Total Other Financing Sources (Uses) (404,805) (420,722) (24,862) 395,860
Net Change in Fund Balances (1,071,506) (1,071,506) (357,582) 713,924
Fund Balances - October 1 1,071,506 1,071,506 1,995,790 924,284
Fund Balances - September 30 $ - $ - $ 1,638,208 $ 1,638,208
H-52
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
COURT FACILITY FEES SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Charges for Services
Investment Income
Total Revenues
EXPENDITURES:
Current:
Court Related:
Court Facility
Total Expenditures
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 517,584
$ 517,584
$ 460,105
$ (57,479)
7,500
7,500
12,450
4,950
525,084
525,084
472,555
(52,529)
348,855 348,855 180,136 168,719
348,855 348,855 180,136 168,719
Excess/Deficiency of Revenues
Over (Under) Expenditures
176,229
176,229 292,419
116,190
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
(49,910)
(49,910) -
49,910
Reserve for Cash Balance
(99,691)
(99,691) -
99,691
Total Other Financing Sources (Uses)
(149,601)
(149,601) -
149,601
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
26,628 26,628 292,419 265,791
(26,628) (26,628) 2,929,291 2,955,919
- $ 3,221,710 $ 3,221,710
H-53
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
DRUG ABUSE TRUST SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Charges for Services
Investment Income
Total Revenues
EXPENDITURES:
Current:
Human Services:
Drug Abuse Trust Fund
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 30,000
$ 30,000
$ 28,206
$ (1,794)
380
380
508
128
30,380
30,380
28,714
(1,666)
96,000 93,957 55,889 38,068
96,000 93,957 55,889 38,068
(65,620) (63,577) (27,175) 36,402
Reserve for 164 (12,230) (12,230) - 12,230
Reserve for Cash Balance (27,057) (27,057) - 27,057
Transfers to Other Funds - (2,043) (2,043) -
Total Other Financing Sources (Uses) (39,287) (41,330) (2,043) 39,287
Net Change in Fund Balances (104,907) (104,907) (29,218) 75,689
Fund Balances - October 1 104,907 104,907 143,028 38,121
Fund Balances - September 30 $ - $ - $ 113,810 $ 113,810
H-54
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
MARATHON MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Taxes
Investment Income
Total Revenues
EXPENDITURES:
Current:
General Government:
Tax Collector
Physical Environment:
Marathon Wastewater
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ - $ - $ 2 $ 2
- - 7 7
- - 9 9
- 5
5
246 246 - 246
246 251 - 251
(246) (251) 9 260
(312) (307) - 307
(558) (558) 9 567
558 558 1,844 1,286
1,853 $ 1,853
H-55
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BAY POINT MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Bay Point Wastewater
Total Expenditures
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ - $ - $ 183 $ 183
- - 183 183
23,000 23,000
23,000 23,000
733 22,267
733 22,267
Excess/Deficiency of Revenues
Over (Under) Expenditures (23,000) (23,000) (550) 22,450
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies (2,760) (2,760) - 2,760
Reserve for Cash Balance (2,862) (2,862) - 2,862
Total Other Financing Sources (Uses) (5,622) (5,622) - 5,622
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
(28,622) (28,622) (550) 28,072
28,622 28,622 46,725 18,103
46,175 $ 46,175
H-56
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
KEY LARGO MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Taxes
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Key Largo Wastewater
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ - $ - $ 2 $ 2
- - 24 24
- - 26 26
2,400 2,400 - 2,400
2,400 2,400 - 2,400
(2,400) (2,400)
26 2,426
(770) (770) - 770
(770) (770) - 770
(3,170) (3,170) 26 3,196
3,170 3,170 6,580 3,410
6,606 $ 6,606
H-57
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BIG COPPITT MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Taxes
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Big Coppitt Wastewater
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Reserve for Cash Balance
Reserve for Contingencies
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ - $ - $ 13 $ 13
- - 5 5
- - 18 18
1,260
1,260
838
422
1,260
1,260
838
422
(1,260) (1,260) (820)
440
(40)
(29)
(40) -
(29) -
40
29
(69)
(69) -
69
(1,329)
(1,329) (820)
509
1,329
1,329 1,425
96
Fund Balances - September 30 $ - $ - $ 605 $ 605
H-58
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
STOCK ISLAND WASTEWATER MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Licenses and Permits
Investment Income
Miscellaneous Income
Total Revenues
EXPENDITURES:
Current:
General Government:
Tax Collector Fees
Total General Government
Physical Environment:
Stock Island Wastewater
Total Expenditures
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 42,000
$ 42,000
$ 26,494
$ (15,506)
1,700
1,700
13,317
11,617
-
-
3,575
3,575
43,700
43,700
43,386
(314)
1,500 1,500 1,000 500
1,500 1,500 1,000 500
350,900 350,900 19,039 331,861
352,400 352,400 20,039 332,361
Excess/Deficiency of Revenues
Over (Under) Expenditures
(308,700)
(308,700) 23,347
332,047
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
(50,356)
(50,356) -
50,356
Reserve for Cash Balance
(100,690)
(100,690) -
100,690
Transfers from Other Funds
425
425 513
88
Total Other Financing Sources (Uses)
(150,621)
(150,621) 513
151,134
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
(459,321) (459,321) 23,860 483,181
459,321 459,321 652,176 192,855
$ 676,036 $ 676,036
H-59
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
CUDJOE-SUGARLOAF MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ - $ - $ 1 $ 1
Total Revenues - - 1 1
EXPENDITURES:
Current:
Physical Environment:
Cudjoe-Sugarloaf Wastewater 3,662 3,662 - 3,662
Total Expenditures 3,662 3,662 - 3,662
Excess/Deficiency of Revenues
Over (Under) Expenditures (3,662) (3,662) 1 3,663
OTHER FINANCING SOURCES (USES):
Transfers to Other Funds - - (6) (6)
Total Other Financing Sources (Uses) - - (6) (6)
Net Change in Fund Balances (3,662) (3,662) (5) 3,657
Fund Balances - October 1 3,662 3,662 5 (3,657)
Fund Balances - September 30 $ - $ - $ - $ -
H-60
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
CONCH KEY MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Conch Key MSTU
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ - $ - $ 9 $ 9
- - 9 9
400
400 -
400
400
400 -
400
(400)
(400) 9
409
(400)
400
(400) 9
400 469
409
69
478 $ 478
H-61
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
LONG KEY-LAYTON MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Licenses and Permits
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Long Key -Layton Wastewater
Total Expenditures
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ - $ - $ 4,417 $ 4,417
- - 1,008 1,008
- - 5,425 5,425
7,900 7,900 3,741 4,159
7,900 7,900 3,741 4,159
Excess/Deficiency of Revenues
Over (Under) Expenditures (7,900) (7,900) 1,684 9,584
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies (1,000) (1,000) - 1,000
Reserve for Cash Balance (1,571) (1,571) - 1,571
Total Other Financing Sources (Uses) (2,571) (2,571) - 2,571
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
(10,471) (10,471)
10,471 10,471
1,684
255,736
12,155
245,265
$ 257,420 $ 257,420
H-62
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
DUCK KEY MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Duck Key Wastewater
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
Reserve for Cash Balance
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ - $ - $ 348 $ 348
- - 348 348
32,500
32,500
321
32,179
32,500
32,500
321
32,179
(32,500) (32,500)
27 32,527
(4,479) (4,479) - 4,479
(9,074) (9,074) - 9,074
(13,553) (13,553) - 13,553
(46,053) (46,053) 27 46,080
46,053 46,053 62,286 16,233
$ - $ - $ 62,313 $ 62,313
H-63
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BUILDING FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Licenses and Permits
Charges for Services
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Public Safety
Building Department
Building Refunds
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
Reserve for Cash Balance
Transfer From Other Funds
Transfer to Other Funds
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 3,495,000
$ 3,495,000
$ 4,761,298
$ 1,266,298
84,000
84,000
116,931
32,931
9,000
9,000
16,512
7,512
30,000
30,000
39,190
9,190
3,618,000
3,618,000
4,933,931
1,315,931
3,990,270 3,990,270 3,484,996 505,274
30,000 101,000 78,285 22,715
4,020,270 4,091,270 3,563,281 527,989
(402,270) (473,270) 1,370,650 1,843,920
(99,240) (28,240) - 28,240
(175,000) (175,000) - 175,000
- - 571,364 571,364
(509,033) (509,033) (509,033) -
(783,273) (712,273) 62,331 774,604
(1,185,543) (1,185,543) 1,432,981 2,618,524
1,185,543 1,185,543 2,596,187 1,410,644
$ - $ - $ 4,029,168 $ 4,029,168
H-64
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
CLERK'S REVENUE NOTE CAPITAL PROJECTS FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Investment Income
Total Revenues
EXPENDITURES:
Capital Projects
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 2,122 $ 2,122 $ 2,261 $ 139
2,122 2,122 2,261 139
2,122 2,122
- 2,122
2,122 2,122 - 2,122
- - 2,261 2,261
- - 2,261 2,261
- - 102,396 102,396
$ 104,657 $ 104,657
H-65
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
INFRASTRUCTURE REVENUE BONDS SERIES 2007 CAPITAL PROJECTS FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Investment Income
Total Revenues
EXPENDITURES:
Capital Projects
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 608,505 $ 608,505 $ 2,567 $ (605,938)
608,505 608,505 2,567 (605,938)
590,857 590,857 19,071 571,786
590,857 590,857 19,071 571,786
17,648 17,648 (16,504) (34,152)
(17,648) (17,648) - 17,648
(17,648) (17,648) - 17,648
- - (16,504) (16,504)
- 1,227,708 1,227,708
$ 1,211,204 $ 1,211,204
H-66
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
DUCK KEY WASTEWATER PROJECT CAPITAL PROJECTS FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Licenses and Permits
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Capital Projects
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
Reserve for Cash Balance
Transfer From Other Funds
Transfer to Other Funds
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 31,500
$ 31,500
$ 92,740
$ 61,240
3,500
3,500
27,178
23,678
-
-
7,197
7,197
35,000
35,000
127,115
92,115
502,335 502,335 126,922 375,413
502,335 502,335 126,922 375,413
(467,335) (467,335) 193 467,528
(63,576) (63,576) - 63,576
(105,698) (105,698) - 105,698
- - 574 574
- (2,500,000) (2,500,000) -
(169,274) (2,669,274) (2,499,426) 169,848
(636,609) (3,136,609) (2,499,233) 637,376
636,609
3,136,609 2,597,757 (538,852)
- $ 98,524 $ 98,524
H-67
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
INFRASTRUCTURE REVENUE BONDS SERIES 2014 CAPITAL PROJECTS FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ - $ - $ 34,986 $ 34,986
Total Revenues - - 34,986 34,986
EXPENDITURES:
General Government 8,000,000 8,000,000 43,979 7,956,021
Public Safety 4,812,517 4,812,517 25,641 4,786,876
Capital Projects 5,343,750 5,343,750 2,009,024 3,334,726
Total Expenditures 18,156,267 18,156,267 2,078,644 16,077,623
Excess/Deficiency of Revenues
Over (Under) Expenditures
(18,156,267)
(18,156,267) (2,043,658)
16,112,609
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
(1,203,941)
(1,203,941) -
1,203,941
Transfer From Other Funds
11,000,000
42,000,000 -
(42,000,000)
Transfer to Other Funds
-
(31,000,000) -
31,000,000
Total Other Financing Sources (Uses)
9,796,059
9,796,059 -
(9,796,059)
Net Change in Fund Balances (8,360,208) (8,360,208) (2,043,658) 6,316,550
Fund Balances - October 1 8,360,208 8,360,208 9,285,560 925,352
Fund Balances - September 30 $ - $ - $ 7,241,902 $ 7,241,902
H-68
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
LONG KEY WASTEWATER PROJECT CAPITAL PROJECTS FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Investment Income
Total Revenues
EXPENDITURES:
Capital Projects
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Transfer From Other Funds
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 1,400,000 $ 1,400,000 $ 394 $ (1,399,606)
1,400,000 1,400,000 394 (1,399,606)
1,400,000
1,400,000
138,357
1,261,643
1,400,000
1,400,000
138,357
1,261,643
- - (137,963) (137,963)
- - 1,600,000
1,600,000
- - 1,600,000
1,600,000
- - 1,462,037
1,462,037
$ 1,462,037 $ 1,462,037
H-69
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
LAND ACQUISITION FUND CAPITAL PROJECTS FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Investment Income
Total Revenues
EXPENDITURES:
Capital Projects
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Transfer From Other Funds
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
6,000,000 6,000,000 6,000,000 -
6,000,000 6,000,000 6,000,000 -
6,000,000 6,000,000 6,000,000 -
$ 6,000,000 $ 6,000,000 $ 6,000,000 $ -
H-70
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S TEEN COURT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Charges for Services
EXPENDITURES:
Current:
Public Safety
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Original Final
Budget Budget Actual
Variance with
Final Budget
Positive
(Negative)
$ 63,000 $ 50,000 $ 49,087 $ (913)
50,000 60,000 54,994 5,006
13,000
(10,000)
(5,907)
4,093
13,000
(10,000)
(5,907)
4,093
60,165 60,165 60,165 -
$ 73,165 $ 50,165 $ 54,258 $ 4,093
H-71
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S FEDERAL FORFEITURE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Intergovernmental
Investment Income
Total Revenues
EXPENDITURES:
Current:
Public Safety:
Law Enforcement
Grants and Aid
Total Expenditures
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 149,903 $ 149,903
- - 22,709 22,709
- - 172,612 172,612
50,000
50,000
44,830
5,170
500,000
400,000
382,869
17,131
550,000
450,000
427,699
22,301
(550,000)
(450,000)
(255,087)
194,913
(550,000)
(450,000)
(255,087)
194,913
4,552,839 4,552,839 4,552,839 -
$ 4,002,839 $ 4,102,839 $ 4,297,752 $ 194,913
H-72
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S STATE FORFEITURE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Fines and Forfeitures
$ 74,500
$ 49,500
$ 48,372
$ (1,128)
Investment Income
2,250
2,250
2,486
236
Miscellaneous
-
175,713
-
(175,713)
Total Revenues
76,750
227,463
50,858
(176,605)
EXPENDITURES:
Current:
Public Safety:
Law Enforcement 420,000 570,713 78,993 491,720
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures (343,250) (343,250) (28,135) 315,115
OTHER FINANCING SOURCES/(USES):
Reserve for Contingencies (48,947) (48,947) - 48,947
Reserve for Cash Balance (98,487) (98,487) - 98,487
Total Other Financing Sources/Uses (147,434) (147,434) - 147,434
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
(490,684) (490,684) (28,135) 462,549
490,684 490,684 668,124 177,440
- $ 639,989 $ 639,989
H-73
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S CONTRACT ADMINISTRATIVE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Intergovernmental
Charges for Services
Investment Income
Total Revenues
EXPENDITURES:
Current:
Public Safety
Total Expenditures
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures
OTHER FINANCING SOURCES/(USES):
Transfers from Other Funds
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Original Final
Budget Budget Actual
Variance with
Final Budget
Positive
(Negative)
$ 365,000
$ 400,000
$ 294,385
$ (105,615)
3,300,000
3,302,500
3,440,314
137,814
2,500
2,500
2,939
439
3,667,500
3,705,000
3,737,638
32,638
3,675,000 3,705,000 3,663,873 41,127
3,675,000 3,705,000 3,663,873 41,127
(7,500) - 73,765 73,765
7,500 - 9,598 9,598
- - 83,363 83,363
1,075,783 1,075,783 1,075,783 -
$ 1,075,783 $ 1,075,783 $ 1,159,146 $ 83,363
H-74
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S COMMISSARY SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Charges for Services
$ 449,800
$ 548,000
$ 538,292
$ (9,708)
Investment Income
3,200
3,200
2,927
(273)
Miscellaneous
22,000
13,800
12,221
(1,579)
Total Revenues
475,000
565,000
553,440
(11,560)
EXPENDITURES:
Current:
Public Safety 405,000 472,500 460,187 12,313
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures 70,000 92,500 93,253 753
OTHER FINANCING SOURCES/(USES):
Transfers from Other Funds - - - -
Net Change in Fund Balances 70,000 92,500 93,253 753
Fund Balances - October 1
530,656
530,656
530,656 -
Fund Balances - September 30
$ 600,656 $
623,156 $
623,909 $ 753
H-75
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S INTERAGENCY COMMUNICATIONS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Charges for Services
Investment Income
Total Revenues
EXPENDITURES:
Current:
Public Safety
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures
OTHER FINANCING SOURCES/(USES):
Transfers from Other Funds
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Original Final
Budget Budget Actual
Variance with
Final Budget
Positive
(Negative)
$ 40,000 $
25,000 $
28,787
$ 3,787
3,000
5,000
2,151
(2,849)
43,000
30,000
30,938
938
210,000 165,000 159,246 5,754
(167,000) (135,000) (128,308) 6,692
157,000 135,000 128,860 (6,140)
(10,000) - 552 552
416,780 416,780 416,780
$ 406,780 $ 416,780 $ 417,332 $
552
H-76
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S TRAUMA STAR SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
EXPENDITURES:
Current:
Public Safety
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures
OTHER FINANCING SOURCES/(USES):
Transfers from Other Funds
Transfers to Other Funds
Total Other Financing Sources/Uses
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Original Final
Budget Budget Actual
Variance with
Final Budget
Positive
(Negative)
$ 1,760,333 $ 4,410,333 $ 4,277,252 $ 133,081
(1,760,333) (4,410,333) (4,277,252) 133,081
1,760,333 4,410,333 4,410,333 -
- - (133,081) (133,081)
1,760,333 41410,333 4,277,252 (133,081)
H-77
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S RADIO COMMUNICATIONS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Charges for Services
EXPENDITURES:
Current:
Public Safety
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures
OTHER FINANCING SOURCES/(USES):
Transfers from Other Funds
Transfers to Other Funds
Total Other Financing Sources/Uses
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ - $ - $ 26,699 $ 26,699
435,417 475,417 441,606 33,811
(435,417) (475,417) (414,907) 60,510
435,417 475,417 475,417 -
- - (60,510) (60,510)
435,417 475,417 414,907 (60,510)
H-78
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S GRANTS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Intergovernmental
EXPENDITURES:
Current:
Public Safety
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures
OTHER FINANCING SOURCES/(USES):
Transfers from Other Funds
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 450,000 $ 450,000 $ 317,382 $ (132,618)
500,000 500,000 431,035 68,965
(50,000) (50,000) (113,653) (63,653)
50,000 50,000 113,653 63,653
H-79
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S SHARED ASSET FORFEITURE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Investment Income
EXPENDITURES:
Current:
Public Safety:
Law Enforcement
Grants and Aid
Total Expenditures
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Original Final
Budget Budget Actual
Variance with
Final Budget
Positive
(Negative)
$ 80,000 $ 130,000 $ 126,835 $ (3,165)
2,200 2,200 487 1,713
148,900 133,900 133,533 367
151,100 136,100 134,020 2,080
(71,100) (6,100) (7,185) (1,085)
5,073,608 5,073,608 5,073,608 -
$ 5,002,508 $ 5,067,508 $ 5,066,423 $ (1,085)
H-80
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S E911 SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Charges for Services
Investment Income
Total Revenues
EXPENDITURES:
Current:
Public Safety
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Original Final
Budget Budget Actual
Variance with
Final Budget
Positive
(Negative)
$ 480,000 $
480,000 $
458,175
$ (21,825)
20,245
20,245
10,856
(9,389)
500,245
500,245
469,031
(31,214)
340,000 570,000 557,825 12,175
160,245 (69,755) (88,794) (19,039)
2,056,345 2,056,345 2,056,345 -
$ 2,216,590 $ 1,986,590 $ 1,967,551 $ (19,039)
H-81
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
CLERK'S RECORDS MODERNIZATION SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Charges for Services
$ 150,000
$ 150,000
$ 279,893
$ 129,893
Fines and Forfeitures
100,000
100,000
164,351
64,351
Investment Income
2,800
2,800
15,309
12,509
Total Revenues
252,800
252,800
459,553
206,753
EXPENDITURES:
Current:
Court Related:
Modernization Trust 732,700 732,700 - 732,700
Clerk Fines 802,942 802,942 623,784 179,158
Total Expenditures 1,535,642 1,535,642 623,784 911,858
Net Change in Fund Balances (1,282,842) (1,282,842) (164,231) 1,118,611
Fund Balances - October 1 2,142,358 2,142,358 2,629,733 487,375
Fund Balances - September 30 $ 859,516 $ 859,516 $ 2,465,502 $ 1,605,986
H-82
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
CLERK'S COURT RELATED SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Intergovernmental
Charges for Services
Fines and Forfeitures
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Court Related:
Clerk Administration
Clerk Records Management
Clerk Jury Management
Clerk Circuit Court Criminal
Clerk Circuit Court Civil
Clerk Court Information Systems
Clerk Circuit Court Family
Clerk Circuit Court Juvenile
Clerk Circuit Court Probate
Clerk County Court Criminal
Clerk County Court Civil
Clerk County Court Traffic
Total Expenditures
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures
OTHER FINANCING SOURCES/(USES):
Transfer from Other Funds
Transfer to Other funds
Total Other Financing Sources/(Uses)
Net Change in Fund Balances
Fund Balances - October 1
Original Final
Budget Budget Actual
Variance with
Final Budget
Positive
(Negative)
$ 489,406 $ 489,406 $ 593,254 $ 103,848
863,100
863,100
998,108
135,008
1,581,026
1,581,026
1,248,535
(332,491)
7,500
7,500
2,537
(4,963)
2,200
2,200
1,554
(646)
2,943,232
2,943,232
2,843,988
(99,244)
205,213
225,213
220,931
4,282
255,817
248,817
242,346
6,471
191,232
191,232
152,848
38,384
649,814
549,814
545,667
4,147
348,620
508,620
500,648
7,972
174,185
174,185
116,040
58,145
131,490
141,490
128,049
13,441
86,629
86,629
60,485
26,144
65,163
115,163
105,260
9,903
468,004
483,004
473,143
9,861
197,690
209,690
200,359
9,331
819,516
659,516
453,986
205,530
3,593,373
3,593,373
3,199,762
393,611
(650,141) (650,141) (355,774) 294,367
650,141 650,141 650,141 -
- - (294,367) (294,367)
650,141 650,141 355,774 (294,367)
Fund Balances - September 30
H-83
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES - BUDGET AND ACTUAL
ONE CENT INFRASTRUCTURE SURTAX CAPITAL PROJECT FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Taxes
$ 20,000,000
$ 20,000,000
$ 20,817,676
$ 817,676
Investment Income
50,000
50,000
99,757
49,757
Miscellaneous
-
-
3,912
3,912
Total Revenues
20,050,000
20,050,000
20,921,345
871,345
EXPENDITURES:
Current:
Capital Outlay:
General Government
Public Safety
Physical Environment
Transportation: Const. Mgmt.
Culture and Recreation
Total Capital Outlay Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
Reserve for Cash Balance
Transfers from Other Funds
Transfers to Other Funds
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
6,411,033
6,348,694
3,810,043
2,538,651
1,636,124
5,627,208
2,589,045
3,038,163
5,450,872
4,308,037
3,583,258
724,779
7,079,604
3,277,252
2,337,294
939,958
4,659,664
2,844,000
82,053
2,761,947
25,237,297 22,405,191 12,401,693 10,003,498
(5,187,297) (2,355,191) 8,519,652 10,874,843
(890,068) (5,637,665) - 5,637,665
(1,893,337) (1,122,487) - 1,122,487
2,500,000 6,546,282 4,550,000 (1,996,282)
(13,504,528) (16,306,169) (16,428,714) (122,545)
(13,787,933) (16,520,039) (11,878,714) 4,641,325
(18,975,230) (18,875,230) (3,359,062) 15,516,168
18,975,230 18,875,230 26,968,838 8,093,608
$ - $ 23,609,776 $ 23,609,776
0.1m,
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BIG COPPITT WASTEWATER CAPITAL PROJECT FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Licenses and Permits
Investment Income
Miscellaneous Income
Total Revenues
EXPENDITURES:
Current:
Capital Outlay:
Physical Environment:
Big Coppitt Refunds
Big Coppitt Special Assessment
Total Physical Environment
Excess/Deficiency of Revenues
Over (Under) Expenditures
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 475,000
$ 475,000
$ 325,648
$ (149,352)
10,000
10,000
90,118
80,118
-
-
34,263
34,263
485,000
485,000
450,029
(34,971)
5,000 5,000 - 5,000
68,500 68,500 32,665 35,835
73,500 73,500 32,665 40,835
411,500 411,500 417,364 5,864
OTHER FINANCING SOURCES (USES):
Transfers from Other Funds - - 964 964
Transfers to Other Funds (682,000) (2,682,000) (2,681,938) 62
Total Other Financing Sources (Uses) (682,000) (2,682,000) (2,680,974) 1,026
Net Change in Fund Balances (270,500) (2,270,500) (2,263,610) 6,890
Fund Balances - October 1 270,500 2,270,500 2,609,065 338,565
Fund Balances - September 30 $ - $ - $ 345,455 $ 345,455
H-85
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
CUDJOE REGIONAL WASTEWATER CAPITAL PROJECT FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Licenses and Permits
Intergovernmental
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Transportation:
Cudjoe Regional X-Paving
Total Transportation
Capital Outlay:
Physical Environment:
Physical Environment Projects
Cudjoe Regional Wastewater Project
Grant Funding
Loan Funding
Special Assessment Refunds
Special Assessments
Total Physical Environment
Total Capital Outlay Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Reserve for Cash Balance
Issuance of Debt
Transfers from Other Funds
Transfers to Other Funds
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 2,275,400
$ 2,275,400
$ 13,207,840
$ 10,932,440
-
125,082
1,558,862
1,433,780
-
-
832,799
832,799
-
-
128,766
128,766
2,275,400
21400,482
15,728,267
13,327,785
3,000,000 3,000,000 - 3,000,000
3,000,000 31000,000 - 3,000,000
125,082
250,164
125,082
125,082
5,021,843
36,091,470
41,419,271
(5,327,801)
25,000
25,000
-
25,000
397,522
397,522
133,565
263,957
5,569,447
36,764,156
41,677,918
(4,913,762)
8,569,447 39,764,156 41,677,918 (1,913,762)
(6,294,047) (37,363,674) (25,949,651) 11,414,023
(10,444,649)
(10,444,649)
- 10,444,649
3,016,492
3,016,492
31,147,188 28,130,696
19,725,082
53,794,709
3,081 (53,791,628)
(9,000,000)
(9,000,000)
- 9,000,000
3,296,925
37,366,552
31,150,269 (6,216,283)
(2,997,122) 2,878 5,200,618 5,197,740
Fund Balances - October 1
(2,878)
(2,878) 18,145,223
18,148,101
Fund Balances - September 30
$ (3,000,000) $
- $ 23,345,841
$ 23,345,841
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
ALL DEBT SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ 5,100 $ 5,100 $ 15,780 $ 10,680
Total Revenues 5,100 5,100 15,780 10,680
EXPENDITURES:
Current:
Debt Service:
2007 Revenue Bonds
Principal
3,190,000
3,190,000
3,190,000 -
Interest
400,800
464,600
464,600 -
Other Debt Service Costs
300
300
300 -
Total 2007 Revenue Bonds
3,591,100
3,654,900
3,654,900 -
Clean Water SRF Loan
Principal 464,695 464,695 464,694 1
Interest 217,305 217,305 217,244 61
Total Clean Water SRF Loan 682,000 682,000 681,938 62
2014 Revenue Bonds
Principal 500,000 500,000 500,000 -
Interest 735,000 740,686 740,686 -
Total 2014 Revenue Bonds 1,235,000 1,240,686 1,240,686 -
PNC Line of Credit
Principal - 16,000,000 16,000,000 -
Other Debt Service Costs 100,000 - - -
Interest - 160,905 135,736 25,169
Total PNC Line of Credit 100,000 16,160,905 16,135,736 25,169
Mayfield Loan
Principal - 1,000,000 1,000,000 -
Total Mayfield Loan - 1,000,000 1,000,000 -
2016 Revenue Bonds
Other Debt Service Costs - 65,000 65,000 -
Total 2016 Revenue Bonds - 65,000 65,000 -
Total Expenditures 5,608,100 22,803,491 22,778,260 25,231
Excess/Deficiency of Revenues
Over (Under) Expenditures (5,603,000) (22,798,391) (22,762,480) 35,911
(Continued)
H-87
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
ALL DEBT SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
Reserve for Cash Balance
Transfers from Other Funds
Refunding Bonds Issued
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
(700,000)
(580,514)
-
580,514
(990,936)
(990,936)
-
990,936
5,608,100
6,619,005
6,577,224
(41,781)
-
16,065,000
16,065,000
-
3,917,164
21,112,555
22,642,224
1,529,669
(1,685,836) (1,685,836) (120,256) 1,565,580
1,685,836 1,685,836 2,685,735 999,899
$ 2,565,479 $ 2,565,479
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF NET POSITION
INTERNAL SERVICE FUNDS
SEPTEMBER 30, 2016
ASSETS
Current Assets:
Cash and Cash Equivalents
Investments
Accounts Receivable, Net
Due from Other Funds
Due from Other Governmental Units
Interest Receivable
Total Current Assets
Noncurrent Assets:
Land and Other Nondepreciable Assets
Capital Assets, Net of Accum. Depreciation
Total Noncurrent Assets
Total Assets
DEFERRED OUTFLOWS OF RESOURCES
Related to Pensions
LIABILITIES
Current Liabilities:
Accounts Payable
Accrued Wages and Benefits Payable
Claims and Judgments Payable
Due to Other Funds
Due to Other Governmental Units
Accrued Comp. Absences Payable
Total Current Liabilities
Noncurrent Liabilities:
Accrued Comp. Absences Payable
OPEB Liability
Net Pension Liability
Total Noncurrent Liabilities
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Related to Pensions
NET POSITION
Investment in Capital Assets
Unrestricted
Total Net Position
Worker's Group Risk
Compensation Insurance Management
Fund Fund Fund
$ 895,330 $
2,806,731 $
558,272
3,107,949
7,972,363
3,420,415
-
15,122
-
-
279,461
-
-
77,616
-
9,300
25,483
9,943
4,012,579
11,176,776
3,988,630
868 - 26,036
868 - 26,036
4,013,447 11,176,776 4,014,666
51,145 63,345 45,639
2,043
1,641,920
15,705
-
8,575
-
425,109
1,028,472
246,780
6,399
-
-
-
246
-
2,147
5,025
3,656
435,698
2,684,238
266,141
8,587 20,102 14,628
139,387 93,274 235,806
155,135 174,965 137,038
303.109 288.341 387.472
738,807 2,972,579 653,613
2,845 3,494 2,554
868 - 26,036
3,322,072 8,264,048 3,378,102
$ 3,322,940 $ 8,264,048 $ 3,404,138
H-89
Fleet
Management
Fund Total
$ 379,774 $
4,640,107
2,825,322
17, 326, 049
40
15,162
69
279,530
17,119
94,735
5,042
49,768
3,227,366
22,405,351
54,000 54,000
811,181 838,085
865,181 892,085
4,092,547 23, 297, 436
256,765 416,894
33,044
1,692,712
-
8,575
-
1,700,361
417,183
423,582
40
286
16,112
26,940
466,379
3,852,456
64,452
107,769
497,812
966,279
722,552
1,189, 690
1,284,816
2,263,738
1,751,195 6,116,194
14,196 23,089
865,181 892,085
1,718,740 16, 682, 962
$ 2,583,921 $ 17,575,047
H-90
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENSES, AND
CHANGES IN NET POSITION
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Operating Revenues:
Charges for Services
Miscellaneous
Total Operating Revenues
Operating Expenses:
Personnel Services
Operations
Depreciation and Amortization
Asserted and Paid Claims
Total Operating Expenses
Operating Income (Loss)
Non -Operating Revenues (Expenses):
Investment Income
Insurance Recoveries
(Loss) on Disposition of Assets
Total Non -Operating Revenues (Expenses)
Income (Loss) Before Transfers
Transfers to Other Funds
Change in Net Position
Total Net Position - October 1
Worker's Group Risk
Compensation Insurance Management
Fund Fund Fund
$ 1,867,238 $ 16,054,053 $ 1,452,269
6,814 175,040 20,245
1,874,052 16,229,093 1,472,514
221,482
285,422
207,753
497,028
1,341,822
1,814,598
-
-
4,664
1,991,437
16,899,485
226,680
2,709,947
18,526,729
2,253,695
(835,895) (2,297,636) (781,181)
14,812 35,086 17,365
944,607 157,355 37,616
959,419 192,441 54,981
123,524 (2,105,195) (726,200)
(61,030) (117,760) (32,970)
62,494 (2,222,955) (759,170)
3,260,446 10,487,003 4,163,308
Total Net Position - September 30 $ 3,322,940 $ 8,264,048 $ 3,404,138
H-91
Fleet
Management
Fund Total
$ 2,687,461 $ 22,061,021
1,563 203,662
2,689,024 22,264,683
1,167,167
1,881,824
941,830
4,595,278
60,681
65,345
-
19,117,602
2,169,678
25,660,049
519,346 (3,395,366)
11,344 78,607
- 1,139,578
(57,236) (57,236)
(45,892) 1,160,949
473,454 (2,234,417)
(367,760) (579,520)
105,694 (2,813,937)
2,478,227 20,388,984
$ 2,583,921 $ 17,575,047
H-92
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Operating Activities:
Cash Received for Services
Cash Received from Other Funds for Goods and Services
Cash Received from Insurance Recoveries
Cash Payments to Suppliers for Goods and Services
Cash Payments for Employee Services
Cash Payments to Other Funds
Cash Payments for Claims
Other Operating Revenue
Net Cash Provided by (Used in)
Operating Activities
Noncapital Financing Activities:
Transfers to Other funds
Net Cash Provided by (Used in) Noncapital
Financing Activities
Capital and Related Financing Activities:
Acquisition of Capital Assets
Net Cash Provided by (Used in) Capital and
Related Financing Activities
Investing Activities:
Investment Income
Proceeds from Sales and Maturities of Investments
Purchase of Investment Securities
Net Cash Provided by (Used in) Investing Activities
Net Increase (Decrease) in Cash and
Cash Equivalents
Cash and Cash Equivalents:
October 1
Worker's Group Risk
Compensation Insurance Management
Fund Fund Fund
$ 1,867,238
$ 16,050,376 $
1,452,640
12,378
-
-
944,607
157,355
37,616
(506,893)
(1,533,812)
(1,817,958)
(228,420)
(287,049)
(215,536)
-
(35,533)
-
(2,484,282)
(16,798,211)
(169,245)
4,316
168,634
17,497
(391,056) (2,278,240) (694,986)
(61,030) (117,760) (32,970)
(61,030) (117,760) (32,970)
- (9,568)
- (9,568)
14,812 35,086 17,365
988,354 5,839,775 2,650,821
(2,122,186) (6,417,149) (2,795,995)
(1,119,020) (542,288) (127,809)
(1,571,106) (2,938,288) (865,333)
2,466,436 5,745,019 1,423,605
September 30 $ 895,330 $ 2,806,731 $ 558,272
H-93
Fleet
Management
Fund Total
$ 2,687,434
$ 22,057,688
425,937
438,315
-
1,139,578
(944,831)
(4,803,494)
(1,157,485)
(1,888,490)
-
(35,533)
-
(19,451,738)
-
190,447
1,011,055 (2,353,227)
(367,760) (579,520)
(367,760) (579,520)
(9,226) (18,794)
(9,226) (18,794)
11,344 78,607
1,302,901 10,781,851
(2,048,334) (13,383,664)
(734,089) (2,523,206)
(100,020) (5,474,747)
479,794 10,114,854
$ 379,774 $ 4,640,107
(Continued)
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF CASH FLOWS (CONTINUED)
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Reconciliation of Operating Income (Loss)
to Net Cash Provided by (Used in)
Operating Activities:
Operating Income (Loss)
Adjustments to Reconcile Operating Income (Loss)
to Net Cash Provided by (Used in) Operating
Activities:
Depreciation and Amortization
Nonoperating Income - Insurance Recoveries
Change in Assets and Liabilities:
(Increase) Decrease in Accounts Receivable
(Increase) Decrease in Due from Other Gov't Units
(Increase) Decrease in Due from Other Funds
(Increase) Decrease in Interest Receivable
Increase (Decrease) in Accounts Payable
Increase (Decrease) in Accrued Wages/Benefits
Increase (Decrease) in Claims/Judgments Payable
Increase (Decrease) in Due to Other Funds
Increase (Decrease) in Due to Other Gov't Units
Increase (Decrease) in Comp. Absences Payable
Increase (Decrease) in OPEB Liability
Increase (Decrease) in Pension Liability
Increase (Decrease) in Deferred Outflows
Increase (Decrease) in Deferred Inflows
Total Adjustments
Net Cash Provided by (Used in)
Operating Activities
Noncash Investing, Capital, and Financing Activities:
(Loss) on Disposition of Assets
Change in Fair Value of Investments
Cash Reconciliation:
Unrestricted
Worker's Group Risk
Compensation Insurance Management
Fund Fund Fund
$ (835,895) $ (2,297,636) $ (781,181)
- - 4,664
944,607 157,355 37,616
-
(3,677)
371
-
(5,409)
-
5,979
(30,104)
-
(2,498)
(6,406)
(2,748)
(9,865)
(191,990)
(3,360)
(12,760)
(10,853)
(12,097)
(492,845)
101,274
57,435
6,399
(30)
-
-
10
-
(7,030)
(2,729)
(11,409)
6,387
4,274
10,806
53,990
66,641
48,282
(35,241)
(46,349)
(31,130)
(12,284)
(12,611)
(12,235)
444,839
19,396
86,195
$ (391,056) $ (2,278,240) $ (694,986)
$ 12,922 $ 39,075 $ 17,025
$ 895,330 $ 2,806,731 $ 558,272
H-95
Fleet
Management
Fund Total
$ 519,346 $ (3,395,366)
60,681 65,345
- 1,139,578
(27)
(3,333)
8,998
3,589
(69)
(24,194)
(2,271)
(13,923)
(2,293)
(207,508)
(54,844)
(90,554)
-
(334,136)
417,008
423,377
-
10
9,582
(11,586)
22,812
44,279
270,348
439,261
(186,171)
(298,891)
(52,045)
(89,175)
491,709
1,042,139
$ 1,011,055 $ (2,353,227)
$ (57,236) $ (57,236)
$ 12,472 $ 81,494
$ 379,774 $ 4,640,107
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF FIDUCIARY NET POSITION
ALL AGENCY FUNDS
SEPTEMBER 30, 2016
Clerk's
Sheriff's
Tag
General
General
and
Property
Agency
Agency
License
Tax
Totals
ASSETS
Cash and Cash Equivalents
$
4,445,899
$
622,196
$
293,208
$ 1,360,966
$
6,722,269
Accounts Receivable
5,719
142
1,846
124
7,831
Total Assets
$
4,451,618
$
622,338
$
295,054
$ 1,361,090
$
6,730,100
LIABILITIES
Due to Others
$
3,612,885
$
622,338
$
3,359
$ 44,038
$
4,282,620
Due to Other Governmental Units
838,733
-
291,695
1,317,052
2,447,480
Total Liabilities
$
4,451,618
$
622,338
$
295,054
$ 1,361,090
$
6,730,100
H-97
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
ALL AGENCY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
10/1/2015
Additions
Deductions
9/30/2016
Clerk's General
Assets
Cash and Cash Equivalents
$ 4,955,005
$ 37,805,741
$ 38,314,847
$ 4,445,899
Accounts Receivable
17,147
23,551
34,979
5,719
Total Assets
$ 4,972,152
$ 37,829,292
$ 38,349,826
$ 4,451,618
Liabilities
Due to Others $ 4,084,171
$ 7,341,107
$ 7,812,393
$ 3,612,885
Due to Other Governmental Units 887,981
30,488,185
30,537,433
838,733
Total Liabilities $ 4,972,152
$ 37,829,292
$ 38,349,826
$ 4,451,618
Sheriff's General
Assets
Cash and Cash Equivalents
Accounts Receivable
Total Assets
Liabilities
Due to Others
Total Liabilities
Tag and License
Assets
Cash and Cash Equivalents
Accounts Receivable
Total Assets
Liabilities
Undistributed Collections
Due to Others
Total Liabilities
Property Tax
Assets
Cash and Cash Equivalents
Accounts Receivable
Total Assets
Liabilities
$
558,860
$
1,478, 327
$
1,414, 991
$
622,196
4,379
860,238
864,475
142
$
563,239
$
2,338,565
$
2,279,466
$
622,338
$
563,239
$
2,207,049
$
2,147,950
$
622,338
$
563,239
$
2,207,049
$
2,147,950
$
622,338
$
277,173
$
15,095,645
$
15,079,610
$
293,208
929
917
-
1,846
$
278,102
$
15,096,562
$
15,079,610
$
295,054
$
275,570
$
15,057,713
$
15,041,588
$
291,695
2,532
38,849
38,022
3,359
$
278,102
$
15,096,562
$
15,079,610
$
295,054
$ 1,195,211 $ 296,532,877 $ 296,367,122 $ 1,360,966
- 124 - 124
$ 1,195,211 $ 296,533,001 $ 296,367,122 $ 1,361,090
Due to Others $ 34,421 $ 9,430,872 $ 9,421,255 $ 44,038
Undistributed Collections 1,160,790 287,102,129 286,945,867 1,317,052
Total Liabilities $ 1,195,211 $ 296,533,001 $ 296,367,122 $ 1,361,090
(Continued) (Continued)
H-98
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION (CONTINUED)
ALL AGENCY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
10/1/2015 Additions Deductions 9/30/2016
Total All Agency Funds
Assets
Cash and Cash Equivalents $ 6,986,249 $ 350,912,590 $ 351,176,570 $ 6,722,269
Accounts Receivable 22,455 884,830 899,454 7,831
Total Assets $ 7,008,704 $ 351,797,420 $ 352,076,024 $ 6,730,100
Liabilities
Due to Others $ 4,684,363 $ 19,017,877 $ 19,419,620 $ 4,282,620
Due to Other Governmental Units 2,324,341 332,648,027 332,524,888 2,447,480
Total Liabilities $ 7,008,704 $ 351,665,904 $ 351,944,508 $ 6,730,100
H-99
STATISTICAL SECTION
(Unaudited)
This part of Monroe County, Florida Government's comprehensive annual 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 County's overall financial health. Statistical schedules differ from financial
statements because they usually cover more than one fiscal year and may present non -
accounting data. These schedules are designed to give the reader insights into the
financial position of Monroe County not readily apparent from the financial statements.
CONTENTS
Financial Trends
These schedules contain trend information to help the reader understand how the
government's financial performance and well-being have changed over time.
Revenue Capacity
These schedules contain information to help the reader assess the government's most
significant local revenue source, the property tax.
Debt Capacity
These schedules present information to help the reader assess the affordability of the
government's current levels of outstanding debt and the government's ability to issue
additional debt in the future.
Demographic and Economic Information
These schedules offer demographic and economic indicators to help the reader
understand the environment within which the government's financial activities take
place.
Operating Information
These schedules contain service and infrastructure data to help the reader understand
how the information in the government's financial report relates to the services the
government provides and the activities it performs.
Sources: Unless otherwise noted, the information in these schedules is derived from the
comprehensive annual financial reports for the relevant year.
1-1
Monroe County, Florida
Net Position by Component
Last Ten Fiscal Years
(accrual basis of accounting)
Fiscal Year
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Governmental Activities:
Net Investment in Capital Assets
$ 243,295,697
$ 253,773,311
$ 258,756,867
$ 255,013,912
$ 262,950,610 $
268,481,196
$ 270,422,340
$ 310,395,551
$ 298,886,532
$ 318,447,503
Restricted
67,709,014
18,246,070
21,113,516
28,567,290
122,718,579
132,785,608
124,146,225
128,646,709
165,286,629
212,145,042
Unrestricted
78,920,813
128,249,820
133,203,229
138,825,625
53,701,325
56,444,010
43,602,257
31,027,325
(34,345,949)
(50,029,144)
Total Governmental Activities Net Position
389,925,524
400,269,201
413,073,612
422,406,827
439,370,514
457,710,814
438,170,822
470,069,585
429,827,212
480,563,401
Business -Type Activities:
Net Investment in Capital Assets
52,893,499
60,228,479
72,612,153
74,034,169
79,302,827
79,206,109
84,103,067
81,817,278
85,160,743
83,423,290
Restricted
4,524,566
7,150,738
7,275,899
9,456,312
8,938,529
8,935,257
4,486,851
6,198,120
6,984,353
7,749,206
Unrestricted
19,655,534
19,994,053
18,054,522
17,619,181
15,076,891
16,451,519
20,052,819
20,907,399
18,169,069
17,056,422
Total Business -Type Activities Net Position
77,073,599
87,373,270
97,942,574
101,109,662
103,318,247
104,592,885
108,642,737
108,922,797
110,314,165
108,228,918
Primary Government:
Net Investment in Capital Assets
296,189,196
314,001,790
331,369,020
329,048,081
342,253,437
347,687,305
354,525,407
392,212,829
384,047,275
401,870,793
Restricted
72,233,580
25,396,808
28,389,415
38,023,602
131,657,108
141,720,865
128,633,076
134,844,829
172,270,982
219,894,248
Unrestricted
98,576,347
148,243,873
151,257,751
156,444,806
68,778,216
72,895,529
63,655,076
51,934,724
(16,176,880)
(32,972,722)
Total Primary Government Net Position
$ 466,999,123
$ 487,642,471
$ 511,016,186
$ 523,516,489
$ 542,688,761 $
562,303,699
$ 546,813,559
$ 578,992,382
$ 540,141,377
$ 588,792,319
Monroe County, Florida
Changes in Net Position
Last Ten Fiscal Years
(accrual basis of accounting)
Fiscal
Year
Expenses
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Governmental Activities:
General Government
$ 38,902,793
$ 36,241,222
$ 34,407,356
$ 36,175,812
$ 35,083,581
$ 33,109,735
$ 32,494,968
$ 37,267,214
$ 34,493,464
$ 35,557,069
Public Safety
95,817,557
98,085,625
94,962,495
97,642,007
97,858,383
94,622,170
97,644,691
98,221,343
99,117,813
107,153,098
Physical Environment
9,037,378
4,743,017
6,300,287
5,781,264
3,801,161
2,250,694
4,056,887
2,885,932
20,416,097
11,598,822
Transportation
6,502,720
6,279,481
8,341,174
5,394,432
5,358,906
5,550,632
5,810,368
5,836,775
4,967,860
7,693,769
Economic Environment
18,205,172
18,269,416
19,111,098
21,843,570
20,748,109
29,394,468
27,404,840
30,286,372
31,304,117
35,425,413
Human Services
9,699,012
9,235,205
7,962,055
9,431,844
8,877,683
10,002,254
8,772,408
8,776,107
9,117,149
9,247,469
Culture and Recreation
3,468,724
8,181,402
6,688,377
5,050,977
4,719,028
5,009,394
4,945,156
4,765,301
5,049,406
5,471,494
Court Related
10,110,445
9,366,707
9,149,301
9,438,598
9,488,877
8,708,250
8,678,198
8,564,174
9,041,892
9,858,508
Loss on Abandonment
N/A
N/A
N/A
N/A
N/A
N/A
N/A
1,078,820
N/A
N/A
Interest on Long -Term Debt
799,313
2,299,140
2,593,786
2,229,992
1,788,869
1,919,617
1,346,365
1,090,490
2,909,022
3,359,908
Loss on Sale of Land
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
1,145,660
N/A
Total Governmental Activities Expenses
192,543,114
192,701,215
189,515,929
192,988,496
187,724,597
190,567,214
191,153,881
198,772,528
217,562,480
225,365,550
Business -Type Activities:
Solid Waste
15,443,668
15,694,292
15,361,336
15,681,526
15,522,290
15,924,397
16,147,322
17,090,607
17,445,567
18,146,600
Toll Bridge
1,070,210
1,330,492
1,405,599
1,357,507
1,341,462
1,325,922
1,299,827
1,321,780
1,351,918
1,528,494
Key West Airport
9,672,456
7,028,059
10,088,164
10,076,921
9,092,116
9,183,855
8,551,579
9,315,084
9,390,022
10,582,895
Marathon Airport
3,858,246
2,573,997
1,821,621
1,752,714
1,959,360
1,525,104
1,654,187
1,973,093
1,445,054
1,859,845
PFC Operations & Restrictions
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
873,420
Total Business -Type Activities Expenses
30,044,580
26,626,840
28,676,720
28,868,668
27,915,228
27,959,278
27,652,915
29,700,564
29,632,561
32,991,254
Total Primary Government Expenses
$ 222,587,694
$ 219,328,055
$ 218,192,649
$ 221,857,164
$ 215,639,825
$ 218,526,492
$ 218,806,796
$ 228,473,092
$ 247,195,041
$ 258,356,804
Program Revenues
Governmental Activities:
Charges for Services:
General Government
Public Safety
Physical Environment
Transportation
Economic Environment
Human Services
Culture and Recreation
Court Related
Operating Grants and Contributions
Capital Grants and Contributions
Total Governmental
Activities Program Revenues
Business -Type Activities:
Charges for services:
Solid Waste
Toll Bridge
Key West Airport
Marathon Airport
Operating Grants and Contributions
Capital Grants and Contributions
Total Business -Type Activities
Program Revenues
Monroe County, Florida
Changes in Net Position - Continued
Last Ten Fiscal Years
(accrual basis of accounting)
Fiscal Year
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$ 10,867,771 $ 9,949,128 $ 9,243,288 $ 8,899,726 $ 8,696,750 $ 9,696,334 $ 9,900,022 $ 15,516,640 $ 12,618,594 $ 14,981,927
8,870,419 8,996,772 9,284,934 9,297,951 12,383,744 14,575,155 13,570,962 13,096,102 13,192,489 16,036,534
784,378 1,205,336 764,463 1,679,889 1,690,385 4,029,585 7,557,781 94,236 1,488,769 43,747,897
287,163 272,132 286,217 191,972 223,239 280,555 186,162 294,635 207,897 229,598
730,832 368,981 - 5,662 6,128 12,688 385,941 454,473 58,366 24,245
383,815 431,324 447,892 470,075 441,706 571,446 541,277 431,788 327,134 265,740
176,043 135,947 139,738 186,302 123,560 56,652 181,329 212,996 175,866 192,799
5,078,570 4,208,009 5,367,758 2,149,665 2,280,138 1,195,299 1,676,794 1,061,006 4,771,093 4,379,726
31,703,289 34,506,343 25,988,037 32,011,504 30,949,238 31,140,270 26,680,241 24,484,744 32,045,494 20,714,145
2,980,714 6,160,246 10,640,080 4,990,596 3,877,272 862,661 9,689,270 22,553,751 16,271,947 9,559,026
61,862,994 66,234,218 62,162,407 59,883,342 60,672,160 62,420,645 70,369,779 78,200,371 81,157,649 110,131,637
15,267,646
14,503, 005
13,674,407
17,468,125
17, 437,884
17, 906, 705
17, 877,147
17, 978,598
18,295,821
18,269,048
1,566,004
1,458,415
1,129,924
1,022,799
1,007,665
928,993
961,458
994,032
1,071,150
1,148,222
4,372,921
4,483,696
4,496,771
6,022,679
6,151,919
6,116,883
6,325,872
6,874,905
6,690,157
7,131,456
750,657
709,805
727,675
738,275
757,879
764,401
816,578
829,353
885,399
968,966
4,513,312
5,801,744
7,707,649
3,973,359
3,437,431
3,393,187
3,485,298
2,545,532
5,996,892
2,902,539
3,299,234
6,537,502
8,658,184
2,848,866
1,272,177
262,241
2,343,704
1,089,450
1,362,200
1,525,314
29,769,774 33,494,167 36,394,610 32,074,103 30,064,955 29,372,410 31,810,057 30,311,870 34,301,619 31,945,545
Total Primary
Government Program Revenues $ 91,632,768 $ 99,728,385 $ 98,557,017 $ 91,957,445 $ 90,737,115 $ 91,793,055 $ 102,179,836 $ 108,512,241 $ 115,459,268 $ 142,077,182
Monroe County, Florida
Changes in Net Position -Continued
Last Ten Fiscal Years
(accrual basis of accounting)
Fiscal
Year
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Net (Expense) Revenue
Governmental Activities
$ (130,680,120)
$ (126,466,997) $
(127,353,522) $
(133,105,154)
$ (127,052,437)
$ (128,146,569)
$(120,784,102)
$(120,572,157)
$ (136,404,831) $
(115,233,913)
Business -Type Activities
(274,806)
6,867,327
7,717,890
3,205,435
2,149,727
1,413,132
4,157,142
611,306
4,669,058 (1,045,709)
Total Primary Government Net Expense
$ (13Q954,926)
$ (119,599,670) $ (119,635,632) $ (129,899,719)
$ (124,902,710)
$ (126,733,437)
$ (116,626,960) $ (119,960,,851)
$ (131,735,773) $ (116, 279,622)
General Revenues and Other
Changes in Net Position
Governmental Activities:
Taxes:
Ad Valorem Taxes
$ 77,370,025
$ 74,581,111 $
81,181,540 $
81,685,080
$ 78,492,821
$ 74,644,751
$ 72,392,013
$ 73,682,489
$ 75,322,772 $
75,463,966
Tourist Impact Tax
2,470,447
2,774,826
2,567,410
2,820,046
3,221,050
6,288,112
3,895,240
4,348,864
4,297,140
4,579,158
Gas Tax
5,321,958
5,056,226
4,795,391
5,391,140
5,459,659
5,632,636
5,339,694
5,722,072
5,711,689
6,180,346
1/2 Cent Sales Tax
8,327,392
8,251,410
7,438,894
7,566,369
8,289,242
8,755,791
9,172,600
9,947,619
10,736,520
11,092,027
One Cent Infrastructure Tax
15,200,289
15,147,593
13,702,434
14,085,030
15,374,998
16,318,450
17,172,360
18,653,970
20,161,451
20,817,676
Tourist Development Tax
15,427,328
15,006,028
14,962,879
19,658,401
22,409,539
25,606,873
27,192,150
30,555,397
34,480,163
36,633,260
Other Taxes
3,126,761
2,055,110
1,141,964
1,292,038
1,702,807
1,866,485
1,837,247
1,960,584
1,081,021
1,131, 692
Other State Shared Revenue
3,303,470
3,181,530
4,076,609
5,458,593
3,276,701
2,968,649
3,113,211
3,298,568
2,938,180
3,381,168
Investment Income
11,231,888
7,861,928
5,121,626
2,179,187
1,699,244
1,253,656
1,349,397
1,641,621
2,103,571
2,280,811
Miscellaneous
8,597,566
4,818,350
7,230,251
1,940,220
3,785,434
2,846,449
2,681,696
2,570,727
4,782,480
3,276,417
Transfers
(1,435,070)
(1,923,438) (2,061,065)
362,265
304,629
305,017
415,202
415,169
796,538
1,155,026
Total Government Activities
148,942,054
136,810,674
140,157,933
142,438,369
144,016,124
146,486,869
144,560,810
152,797,080
162,411,525
165,991,547
Business -Type Activities:
Investment Income
1,984,413
1,206,849
770,354
312,261
350,720
154,535
90,463
65,637
133,956
133,972
Miscellaneous
3,221,682
302,057
19,995
11,657
12,767
11,988
7,970
18,286
101,565
(18,484)
Transfers
1,435,070
1,923,438
2,061,065 (362,265)
(304,629)
(305,017)
(415,202) (415,169)
(796,538) (1,155,026)
Total business -Type Activities
6,641,165
3,432,344
2,851,414 (38,347)
58,858
(138,494)
(316,769) (331,246)
(561,017) (1,039,538)
Total Primary Government
$ 155,583,219
$ 140,243,018 $
143,009,347 $
142,400,022
$ 144,074,982
$ 146,348,375
$ 144,244,041
$ 152,465,834
$ 161,850,508 $
164,952,009
Change in Net Position
Governmental Activities
$ 18,261,934
$ 10,343,677 $
12,804,411 $
9,333,215
$ 16,963,687
$ 18,340,300
$ 23,776,708
$ 32,224,923
$ 26,006,694 $
50,757,634
Business -Type Activities
6,366,359
10,299,671
10,569,304
3,167,088
2,208,585
1,274,638
3,840,373
280,060
4,108,041 (2,085,247)
Total Primary Government
$ 24,628,293
$ 20,643,348 $
23,373,715 $
12,500,303
$ 19,172,272
$ 19,614,938
$ 27,617,081
$ 32,504,983
$ 30,114,735 $
48,672,387
Monroe County, Florida
Governmental Activities Tax Revenues By Source
Last Ten Fiscal Years
(accrual basis of accounting)
Sales Taxes
State Tourist Local Local Tourist
Fiscal Property Impact Sales Development Other
Year Tax Tax Tax Tax Taxes Total
2007 $ 77,370,025 $ 2,470,447 $ 28,849,639 $ 15,427,328 $ 3,126,761 $ 127,244,200
2008
74,581,111
2,774,826
28,455,229
15,006,028
2,055,110
122,872,304
2009
81,181,540
2,567,410
25,936,719
14,962,879
1,141,964
125,790,512
2010
81,685,080
2,820,046
27,042,539
19,658,401
1,292,038
132,498,104
2011
78, 492, 821
3,221, 050
29,123, 899
22,409, 539
1,702,807
134, 950,116
2012
74,644,751
6,288,112
30,706,877
25,606,873
1,866,485
139,113,098
2013
72, 392, 013
3,895,240
31, 684, 654
27,192,150
1,837,247
137, 001, 304
2014
73,682,489
4,348,864
34,323,661
30,555,397
1,960,584
144,870,995
2015
75, 322, 772
4,297,140
36, 609, 660
34,480,163
1,081,021
151, 790, 756
2016
75,463,966
4,579,158
38,090,049
36,633,260
1,131,692
155,898,125
Monroe County, Florida
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
Fiscal Year
2007
2008
2009
2010
2011***
2012
2013
2014
2015
2016
General Fund:
Reserved
$ 128,680
$ 17,870
$ 1,032
$ 344
N/A
N/A
N/A
N/A
N/A
N/A
Unreserved
13,973,738
16,452,555
28,039,366
33,516,378
N/A
N/A
N/A
N/A
N/A
N/A
Nonspendable
N/A
N/A
N/A
N/A
$ 2,872
$ 3,830
$ 5,450
$ 4,048
$ 3,870
$ 3,728
Restricted
N/A
N/A
N/A
N/A
100,732
95,485
102,461
116,890
-
-
Committed
N/A
N/A
N/A
N/A
-
-
-
10,000,000
10,000,000
10,000,000
Assigned
N/A
N/A
N/A
N/A
9,673,395
14,038,181
14,044,788
13,438,606
12,293,875
12,779,394
Unassigned
N/A
N/A
N/A
N/A
27,557,693
23,300,792
21,494,627
11,967,821
13,706,442
15,490,123
Total General Fund
$ 14,102,418
$ 16,470,425
$ 28,040,398
$ 33,516,722
$ 37,334,692
$ 37,438,288
$ 35,647,326
$ 35,527,365
$ 36,004,187
$ 38,273,245
All Other Government Funds:
Reserved
$ 18,374,816
$ 33,287,923
$ 21,939,779
$ 18,610,813
N/A
N/A
N/A
N/A
N/A
N/A
Unreserved, Report In:
Special Revenue Funds
86,456,521
85,641,432
84,049,731
82,807,030
N/A
N/A
N/A
N/A
N/A
N/A
Debt Service Fund
Capital Project Funds
19,765,142
38,180,224
34,767,686
42,526,671
N/A
N/A
N/A
N/A
N/A
N/A
Nonspendable
N/A
N/A
N/A
N/A
$ 8,376,579
$ 9,151,579
$ -
$ -
$ -
$ -
Restricted
N/A
N/A
N/A
N/A
133,922,130
141,986,915
130,474,266
129,848,990
165,907,485
177,362,347
Committed
N/A
N/A
N/A
N/A
5,534,436
2,752,586
2,845,763
3,208,266
3,655,171
3,382,205
Assigned
N/A
N/A
N/A
N/A
8,392,145
11,745,017
5,592,775
6,152,655
6,282,834
5,276,737
Unassigned
N/A
N/A
N/A
N/A
Total All Other Governmental Funds
$ 124,596,479
$ 157,109,579
$ 140,757,196
$ 143,944,514
$ 156,225,290
$ 165,636,097
$ 138,912,804
$ 139,209,911
$ 175,845,490
$ 186,021,289
Total Governmental Fund Balances $ 138,698,897 $ 173,580,004 $ 168,797,594 $ 177,461,236 $ 193,559,982 $ 203,074,385 $ 174,560,130 $ 174,737,276 $ 211,849,677 $ 224,294,534
*** Fiscal Year 2011 fund balance classifications have been revised due to implementation of the Governmental
Accounting Standards Boards Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions.
Monroe County, Florida
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
Fiscal Year
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Revenues:
Taxes
$ 114,572,997
$ 109,984,484
$ 114,463,075
$ 120,922,752
$ 122,624,538
$ 123,106,019
$ 123,735,974
$ 130,708,005
$ 137,755,535
$ 141,160,646
Licenses and permits
3,146,824
3,312,742
3,080,133
3,947,203
3,301,929
5,472,910
3,944,718
4,360,817
4,981,871
18,935,412
Intergovernmental
66,825,811
53,928,374
53,525,172
52,226,536
51,363,390
51,270,543
51,869,218
71,488,374
62,910,951
49,444,606
Charges for services
19,166,667
16,447,086
16,861,438
15,638,917
19,323,553
19,094,901
19,130,497
20,219,171
22,233,877
24,916,469
Fines and forfeitures
2,676,316
3,056,516
1,877,871
1,151,584
1,319,921
1,215,361
1,628,656
3,063,793
3,021,667
3,403,295
Investment income
9,638,822
6,486,067
4,291,124
1,901,532
1,506,138
1,139,627
1,270,808
1,570,241
2,029,937
2,202,204
Miscellaneous
3,244,043
4,823,902
4,009,921
1,877,668
3,213,164
1,778,179
2,223,848
2,842,370
5,436,360
1,990,379
Total Revenues
219,271,480
198,039,171
198,108,734
197,666,192
202,652,633
203,077,540
203,803,719
234,252,771
238,370,198
242,053,011
Expenditures:
General Government
35,620,355
31,252,064
29,874,010
29,487,845
30,330,570
30,471,282
28,820,391
29,517,833
29,164,606
28,922,141
Public Safety
100,718,047
91,174,376
89,996,251
91,817,599
91,736,154
90,401,842
91,348,083
97,566,342
95,398,226
100,803,744
Physical Environment
5,840,424
2,765,646
2,216,462
1,450,119
1,492,258
1,708,848
1,695,709
1,920,924
2,739,223
3,491,768
Transportation
6,427,377
6,031,394
4,706,002
4,702,256
4,913,862
6,118,697
7,880,265
8,202,345
10,738,756
9,083,333
Economic Environment
18,113,269
18,159,261
18,984,488
21,763,423
20,677,833
27,301,464
27,383,724
30,270,689
31,270,853
35,331,685
Human Services
9,538,457
8,943,385
7,479,854
8,618,449
8,362,584
9,742,329
8,535,525
8,611,596
8,787,781
8,982,614
Culture and Recreation
5,103,459
4,289,428
4,424,058
4,253,972
4,113,332
4,523,854
4,776,649
4,493,470
4,724,380
4,908,583
Court Related
10,351,793
9,043,145
8,381,970
8,303,866
8,289,001
8,303,562
8,512,091
8,285,541
8,632,302
8,713,001
Capital Outlay
35,843,294
37,192,004
28,232,891
6,162,900
9,058,307
7,851,958
29,263,032
67,570,720
64,430,847
56,405,650
Debt Service
Principal
2,412,276
2,059,008
4,576,624
25,470,663
11,697,725
6,132,753
4,808,643
4,990,338
11,092,352
21,154,694
Interest
670,212
1,984,954
2,624,697
2,453,711
1,825,306
1,554,236
1,373,797
1,190,415
938,222
1,558,266
Other Debt Service Costs
95,968
577,993
254
7,755
255
390,266
255
255
124,570
65,300
Total Expenditures
230,734,931
213,472,658
201,497,561
204,492,558
192,497,187
194,501,091
214,398,164
262,620,468
268,042,118
279,420,779
Excess of Revenues
Over(Under)Expenditures $ (11,463,451)
$ (15,433,487) $ (3,388,827) $ (6,826,366) $
10,155,446
$ 8,576,449 $ (10,594,445)
$ (28,367,697) $ (29,671,920)
$ (37,367,768)
Other Financing Sources (Uses)
Transfers In
Transfers Out
Refunding Revenue Note Issued
Bonds Issued
Debt Proceeds
Premium on Bonds Issued
Discount on Bonds Issued
Payments to Refunded
Bond Escrow Agent
Capital Lease Acquisitions
Notes Payable
Proceeds from Sale
of Capital Assets
Total Other Financing
Sources (Uses)
lb
Net Change in Fund Balances
Debt Service as a Percentage
of Noncapital Expenditures
Monroe County, Florida
Changes in Fund Balances of Governmental Funds -Continued
Last Ten Fiscal Years
(modified accrual basis of accounting)
Fiscal Year
2007
2008
2009 2010
2011 2012
2013
2014
2015
2016
$ 56,337,798
$ 70,384,021
$ 67,023,320 $ 67,993,376
$ 71,082,504 $ 65,998,245
$ 84,877,924
$ 65,968,130
$ 79,801,546 $
83,406,991
(57,041,690)
(71,576,281)
(68,416,903) (66,998,174)
(70,144,938) (65,060,291)
(83,745,980)
(64,836,219)
(78,425,488)
(81,672,445)
-
14,494,806
5,005,734
50,415,000
-
-
-
-
-
-
-
5,461,341
27,412,932
65,408,263
47,212,188
1,091,854
-
-
-
-
183,189
(520,703) 50,314,594 (1,393,583) 15,490,008 5,943,300 937,954 6,593,285 28,544,843 66,784,321 48,946,734
$ (11,984,154) $ 34,881,107 $ (4,782,410) $ 8,663,642 $ 16,098,746 $ 9,514,403 $ (4,001,160) $ 177,146 $ 37,112,401 $ 11,578,966
1.68% 2.74% 4.18% 14.19% 7.39% 4.40% 3.42% 3.27% 6.29% 2.40%
I
Monroe County, Florida
General Governmental Tax Revenues By Source
Last Ten Fiscal Years
(modified accrual basis of accounting)
Fiscal
Year
Property
Tax
State
TIMP
Sales Taxes
Local
Sales
Tax TDC
Other
Total
2007
$ 79,247,889 $
2,470,447
$ 16,682,292
$ 15,427,328 $
745,041
$ 114,572,997
2008
74,811,026
2,774,826
16,584,402
15,006,028
808,202
109,984,484
2009
81,187,993
2,294,333
14,958,818
14,962,879
791,094
114,195,117
2010
81,685,080
2,820,046
16,037,623
19,658,401
721,602
120,922,752
2011
78,492,821
3,221,050
17,455,225
22,409,539
1,045,903
122,624,538
2012
74,644,751
3,144,056
18,649,940
25,606,873
1,060,399
123,106,019
2013
72,392,013
3,895,240
19,196,940
27,192,150
1,059,631
123,735,974
2014
73,682,489
4,348,864
18,653,970
30,555,397
1,960,584
129,201,304
2015
75,322,772
4,297,140
20,161,451
34,480,163
1,081,021
135,342,547
2016
75,463,966
4,579,158
20,817,676
36,633,260
1,131,692
138,625,752
Source: Monroe County Clerk of the Circuit Court Finance Department
Monroe County, Florida
Assessed Value and Estimated Actual Value of Taxable Property
Last Ten Fiscal Years
Total
Estimated
Assessed
Real Property
Commercial
Less:
Total Taxable
Direct
Actual
Value as a
Fiscal Residential
Commercial
Personal
Tax Exempt
Assessed
Tax
Taxable
Percentage of
Year Property
Property
Property
Property
Value
Rate
Value (1)
Actual Value (1)
2007 $ 29,148,380,910
$ 9,525,652,503
$ 838,832,346
$ 12,995,937,305
$ 26,516,928,454
3.3890
n/a
n/a
2008 29,832,407,840
10,159,577,233
832,432,665
12,278,283,098
28,546,134,640
2.7317
n/a
n/a
2009 26,415,781,465
10,012,549,128
848,143,322
10,710,450,011
26,566,023,904
3.3787
n/a
n/a
2010 21,215,584,170
9,788,898,986
868,306,307
9,548,521,981
22,324,267,482
3.7789
n/a
n/a
2011 17,856,125,062
8,699,361,452
828,515,769
7,830,116,847
19,553,885,436
4.1623
n/a
n/a
2012 17,306,874,296
8,256,888,373
798,092,402
7,818,927,504
18,542,927,567
4.1382
n/a
n/a
2013 17,287,606,922
8,347,419,400
771,466,155
7,679,334,047
18,727,158,430
3.9880
n/a
n/a
2014 17,903,163,790
8,713,264,820
740,963,901
8,241,122,698
19,116,269,813
4.0165
n/a
n/a
2015 21,153,226,046
9,577,152,035
729,104,179
9,863,211,411
21,596,270,849
3.8007
n/a
n/a
2016 23,134,080,788
9,674,350,023
728,961,085
10,505,834,921
23,031,556,975
3.8080
n/a
n/a
Source: Monroe County Property Appraiser
N/A - not available
n/a - not applicable
(1) Estimated actual value for
each tax year is equal
to the assessed
value. The ratio of total assessed to the total estimated
actual value is 100%
for each tax year.
Monroe County, Florida
Property Tax Rates
Direct and Overlapping Governments (1)
Last Ten Fiscal Years
Overlapping Rates
Monroe County
Municipalities
School District
Total
Debt
Total
Debt
Total
Debt
Total
Direct &
Fiscal
Operating
Service
County
Operating
Service
City
Operating
Service
School
Special
Overlapping
Year
Millage
Millage
Millage
Millage
Millage
Millage
Millage
Millage
Millage
Districts
Rates
2007
3.3890
3.3890
1.3201
1.3201
3.0610
3.0610
1.5211
9.2912
2008
2.7317
2.7317
0.9486
0.9486
2.9460
2.9460
1.0415
7.6678
2009
3.3787
3.3787
1.0337
1.0337
2.9220
2.9220
1.0038
8.3382
2010
3.7789
3.7789
1.1827
1.1827
3.3870
3.3870
1.0502
9.3988
2011
4.1623
4.1623
1.3041
1.3041
3.8235
3.8235
1.1833
10.4732
2012
4.1382
4.1382
1.2864
1.2864
3.5650
3.5650
0.9644
9.9540
2013
3.9880
3.9880
1.3363
1.3224
3.6600
3.6600
0.9982
9.9686
2014
4.0165
4.0165
1.3935
1.3935
3.6810
3.6810
1.0206
10.1116
2015
3.8007
3.8007
1.5067
1.5067
3.5500
3.5500
1.0579
9.9153
2016
3.8080
3.8080
1.5023
1.5023
3.4840
3.4840
1.2781
10.0724
Source: Monroe County Property Appraiser
(1) Overlapping rates are those of other local governments that apply to property owners within Monroe County. Not all overlapping rates apply to all Monroe County
property owners (e.g., the rates for special districts apply only to the proportion of the County's property owners whose property is located within the geographic
boundaries of the special district.)
Taxpayer
Florida Keys Electric Co -Op
CWI Keys Hotel LLC
Ocean Reef Club Inc
Sunset City Lessee, LLC
Casa Marina Owner LLC
Galleon Condominium Assoc Inc
Tannex Development LC
Ocean Walk Key West LLC
Windward Pointe II LLC
NWCL LLC
BellSouth/Southern Bell
City of Key West
CSC Holiday LTD
Hyatt Key West
Keys Marina Sombrero LLC
JLW Key West 1 LLC
Monroe County, Florida
Principal Property Taxpayers
Current Year and Nine Years Ago
2016
2007
Percentage of
Percentage of
Taxable
Total Taxable
Taxable
Total Taxable
Assessed
Assessed
Assessed
Assessed
Value
Rank
Value
Value
Rank
Value
114,908,691
1
0.50%
76,002,338
3
0.29%
101,312,167
2
0.44%
94,733,023
3
0.41 %
93,275,911
4
0.40%
84,000,128
5
0.36%
79,262,930
1
74,735,248
6
0.32%
69,741,964
5
0.26%
62,928,614
7
0.27%
60,583,497
8
0.26%
58,910,738
9
0.26%
48,686,354
8
58,375,499
10
0.25%
$803,763,516
Source: Monroe County Property Appraiser
78,220,595 2
66,575,757 6
66,418,178 7
72,028,980 4
47,807,644 9
43,709,517 10
3.47% $ 648,454,257
0.29%
0.25%
0.25%
0.27%
0.18%
0.16%
1.95%
1-13
Monroe County, Florida
Property Tax Levies and Collections
Last Ten Fiscal Years
Fiscal Year
Ended
September 30
Total Tax
Levy for
Fiscal Year
Collected within the
Fiscal Year of the Levy
Amount Percentage of Levy
Collections in
Subsequent Years
Total Collections to Date
Amount Percentage of Levy
2007
$ 82,633,967
$ 78,983,022
95.6%
$ 41,429
$ 79,024,451
95.6%
2008
77,977,337
75,236,158
96.5%
53,383
75,289,541
96.6%
2009
85,167,980
81,290,644
95.4%
40,264
81,330,908
95.5%
2010
84,415,862
81,954,580
97.1 %
53,397
82,008,077
97.1 %
2011
81,388,806
78,911,088
97.0%
58,861
78,969,949
97.0%
2012
77,534,605
75,121,671
96.9%
29,806
75,151,477
96.9%
2013
75,553,652
72,474,231
95.9%
31,840
72,506,071
96.0%
2014
76,985,354
74,342,547
96.6%
18,525
74,342,547
96.6%
2015
79,657,302
76,698,560
96.3%
N/A
76,698,560
96.3%
2016
80,394,533
77,254,282
96.1 %
N/A
77,254,282
96.1 %
Source: Monroe County Tax Collector
N/A - Not Applicable
Monroe County, Florida
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
Governmental Activities
Business -Type Activities
Percentage
Fiscal
Revenue
Revenue Loans
Capital
Revenue Revenue
Capital
Primary
of Personal
Per
Year
Bonds
Notes Payable
Leases
Bonds Notes
Leases
Government
Income(1)
Capita(1)
2007
$ 16,830,000
$ 1,235,823 $ 7,482
$ 402,442
$ 30,455,000 $ 2,506,640 $
817,270
$ 52,254,657
1.17%
714
2008
46,012,864
21,626,677 -
200,109
25,100,000 2,038,356
767,270
95,745,276
2.11%
1325
2009
42,116,773
21,000,000
40,162
17,210,000 1,554,104
717,270
82,638,309
1.88%
1060
2010
38,085,682
13,969,565
19,740
11,540,000 1,053,339
667,270
65,335,596
2.00%
894
ui 2011
33,909,591
11,365,862
1,453
8,705,000 -
617,270
54,599,176
1.50%
739
2012
29,583,500
9,453,109
-
6,060,000
567,270
45,663,879
N/A
N/A
2013
25,097,409
14,485,806
-
517,270
40,100,485
N/A
N/A
2014
20,418,912
41,458,400
467,270
62,344,582
N/A
N/A
2015
41,580,227
59,480,817 31,566,220
-
132,627,264
N/A
N/A
2016
53,849,136
92,085,120 16,000,000
161,934,256
N/A
N/A
Note: Details regarding the County's outstanding debt can be found in the notes to the financial statements.
(1) See the
Schedule of Demographic and Economic Statistics on page 1-21
for personal income and population
data.
N/A - Not
Available
Monroe County, Florida
Ratios of General Bonded Debt Outstanding
General
Fiscal Obligation
Year Bonds
Last Ten Fiscal Years
Less: Amounts
Available in Debt
Service Fund
Percentage of
Estimated
Actual Taxable
Value of Per
Total Property Capita
Monroe County does not have any outstanding general bonded debt for years 2007-2016.
1-16
Monroe County, Florida
Direct and Overlapping Governmental Activities Debt
September 30, 2016
Estimated Amount
Debt Percentage Applicable to
Direct Debt Outstanding Applicable County
Monroe County, Florida $ 161,934,256 100% $ 161,934,256
Monroe County does not have any overlapping debt as of September 30, 2016.
Notes Overlapping governments are those that coincide, at least in
part, with the geographic boundaries of the county. This
schedule estimates the portion of the outstanding debt of those
overlapping governments that is borne by the residents and
businesses of Monroe County, Florida. This process recognizes
that, when considering the County's ability to issue and repay
long-term debt, the entire 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.
(a) Net bonded debt was calculated as revenue bonds payable and
revenue notes payable. See Legal Debt Margin Information
schedule for net bonded debt calculation.
(b) Allocation based on assessed valuation.
1-17
Monroe County, Florida
Legal Debt Margin Information
Last Ten Fiscal Years
There are no State laws or County ordinances establishing a legal debt margin for years 2007-2016.
1-18
Monroe County, Florida
Pledged -Revenue Coverage
Governmental Activities
Last Ten Fiscal Years
Fiscal
Year
Collections
Sales Tax Revenue Bonds
Debt Service
Principal Interest Total
Coverage
2007
$15,200,289
$1,222,500
$ 593,880
$1,816,380
8.37
2008
15,147,595
2,515,000
1,558,694
4,073,694
3.72
2009
13,702,434
3,857,500
1,728,301
5,585,801
2.45
2010
14,085,030
3,997,500
1,588,708
5,586,208
2.52
2011
15,374,998
4,145,000
1,440,676
5,585,676
2.75
2012
16,318,450
4,300,000
1,284,405
5,584,405
2.92
2013
17,172,360
4,465,000
1,120,502
5,585,502
3.07
2014
17,106,367
4,990,338
1,190,415
6,180,753
2.77
2015
20,161,451
3,580,000
1,230,981
4,810,981
4.19
2016
20,817,676
4,689,999
1,205,286
5,895,285
3.53
Note: Details regarding the County's outstanding debt can be found in the notes to the financial statements.
1-19
Ili
0
FISCAL
YEAR
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Monroe County, Florida
Pledged Revenue Bonds and Notes
Business -Type Activities
Last Ten Fiscal Years
KEY WEST AIRPORT
NET
AVAILABLE
_
AVAILABLE
REVENUE(a)
EXPENSES(b)
REVENUE
N/A
N/A
N/A
$ 9,385,552
$ 5,621,949
$ 3,763,603 1
11,003,565
8,696,413
2,307,152
8,609,577
7,741,184
868,393
8,321,164
7,397,268
923,896
9,301,807
8,009,716
1,292,091
DEBT SERVICE
TIMES
PRINCIPAL INTEREST(c) TOTAL COVERAGE
N/A N/A N/A N/A
735,000 $
$ 735,000
5.12
475,000
475,000
4.86
460,000
460,000
1.89
450,000
450,000
2.05
410,000
410,000
3.15
(a) "Available Revenue" shall mean income from operations and such PFC revenues and PFC fund balance necessary to provide the required coverage.
(b) "Expenses" exclude depreciation of fixed assets, OPEB costs, and amortization of deferred charges which are reflected as expenses in the
financial statements
(c) As defined in Resolution 238-B, debt service requirements are reduced by bond proceeds available to pay interest due. As of September 30, 2011,
$725,557 is available to meet future interest requirements. This amount is presently estimated to cover interest requirements for 2012, 2013, and 2014.
— Monroe County Airport Variable Rate Revenue Bonds (KWIA) Series 2006 were redeemed on May 1, 2013.
N/A - Not Applicable
Monroe County, Florida
Demographic and Economic Statistics
Last Ten Fiscal Years
Personal
Per
Income
Capita
Fiscal
(amounts expressed
Personal
Median
School
Unemployment
Year Population (1)
in thousands) (1)
Income (1)
Age (2)
Enrollment (3)
Rate (4)
2007 73,223
$ 4,463,225
$ 61,216
47
8,393
3.0%
2008 72,243
4,531,670
61,825
47.2
8,251
4.0%
2009 77,925
4,402,566
60,173
45.4
8,262
7.3%
N 2010 73,090
4,129,832
56,415
47.1
8,331
8.0%
2011 73,873
4,354,126
58,941
45.7
8,417
6.4%
2012 74,809
4,245,050
56,745
46.4
8,351
4.7%
2013 76,351
4,415,284
57,829
46.5
8,432
3.5%
2014 77,136
5,368,160
69,593
46.7
8,420
3.7%
2015 77,482
5,765,374
74,409
46.8
8,523
3.6%
2016 N/A
N/A
N/A
N/A
8,842
3.7%
Data Sources:
(1) Bureau of Economic Analysis,
U.S. Department of Commerce
(2) U.S. Census Bureau
(3) Monroe County School Board
(4) Florida Research and Economic
Database
N/A = Not Available
Monroe County, Florida
Principal Employers
Current Year and Nine Years Ago
2016 2007
Percentage of
Percentage of
Total County
Total County
Employer
Employees
Rank
Employment
Employees
Rank
Employment
US Armed Services
2,190
1
28.77%
1,269
1
3.09%
Monroe County School District
1,096
2
14.40%
1,107
2
2.69%
Ocean Reef Club
962
3
12.64%
800
3
1.95%
Monroe County Sheriffs Office
595
4
7.82%
569
5
1.38%
Publix Stores
540
5
7.09%
N/A
N/A
Monroe County Government
516
6
6.78%
N/A
N/A
City of Key West
497
7
6.53%
500
7
1.22%
N Community Health Care Center
430
8
5.65%
466
8
1.13%
N
Westin Resort & Marina/Sunset Key
400
9
5.26%
750
4
1.82%
Hawk's Cay
385
10
5.06%
N/A
N/A
Total
7,611
100.0%
Source: Key West Chamber of Commerce and the Florida Research and Economic Database
N/A = Comparative Period Data Not Available
N
co
Monroe County, Florida
Full-time Equivalent County Government Employees by Function
Last Ten Fiscal Years
Fiscal Years
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Function
General government
374
364
329
338
341
337
342
328
329
294
Public safety
649
630
626
578
570
587
587
594
596
599
Physical environment
29
28
33
57
54
57
56
71
81
79
Transportation
97
95
85
71
73
63
66
71
73
77
Economic environment
28
29
28
10
28
28
27
27
28
30
Human Services
46
40
26
26
29
28
29
30
29
29
Culture and recreation
40
41
32
32
31
42
41
43
42
42
Court Related
102
102
101
93
95
95
94
94
95
126
Total
1,365
1,329
1,260
1,205
1,221
1,237
1,242
1,257
1,273
1,276
Source: Monroe County Budget and Finance Division
Monroe County, Florida
Operating Indicators by Function
Last Ten Fiscal Years
Fiscal Years
Function
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Sheriff
Traffic violations
24,422
19,621
19,889
15,084
12,255
11,939
9,511
9,349
10,481
10,497
Fire
Number of calls answered
3,415
3,506
3,073
3,704
3,717
4,176
4,538
1,683
1,657
1,066
Ambulance
Number of calls answered
2,465
2,178
2,212
2,593
2,686
2,964
3,278
2,927
3,370
3,360
Transportation
Street resurfacing (miles)
2.94
1.67
12.30
0
0.20
0.50
7.6
0
37.99
22.7
Number of Vehicles on roads
Upper Keys
Inbound
11,870
11,330
11,641
11,476
11,731
12,021
12,432
13,009
14,107
14,607
Outbound
11,791
11,198
11,521
11,395
11,679
11,951
12,388
12,938
14,055
14,568
Middle Keys
- Inbound
N/A
N/A
8,145
8,604
8,209
8,265
8423
8781
9207
9096
a Outbound
N/A
N/A
8,148
8,606
8,200
8,260
8425
8809
9289
9047
Lower Keys
Inbound
18,025
17,336
17,799
18,047
18,242
18,241
18,070
18,642
18,241
20,638
Outbound
18,055
17,266
17,672
17,980
18,298
18,323
18,217
18,810
18,323
21,765
Airport Enplanements
277,308
241,370
232,244
268,306
356,241
366,817
401,660
377,952
349,790
367,254
Axles crossing toll bridge
3,745,231
3,434,115
2,691,880
2,493,169
2,413,984
2,323,623
2,379,995
2,440,765
2,689,809
2,838,203
Human Services
Assisted Living Facility Resident
19
16
16
16
16
16
16
15
13
12
Animals Collected
1682
2478
2,495
2,482
2378
2368
2505
2419
1653
2167
Animals Adopted
832
999
925
839
788
898
932
874
879
789
Culture and recreation
Library Holdings
382,655
207,190
205,015
199,604
204,771
205,725
201,836
200,847
193,976
204,072
Court Related
Number of cases filed
52,008
42,691
43,989
42,569
44,406
40,037
36,823
36,435
50,277
36,319
Sources: Various county departments
N/A - Data Not Available
Function
Public safety
Sheriff
Stations
Patrol Units
Fire Stations
Ambulances
Physical Environment
Post Closure Landfills
Unused Landfill
Transportation
Unpaved Streets (miles)
Paved Streets (miles)
Bridges
Airports
N Toll Bridge
cn Human Services
Assisted Living Facility
Animal Shelters
Culture and recreation
Parks Acreage
Beaches
Ball Fields and Courts
Other Facilities
Libraries
Court Related
Courtrooms
Monroe County, Florida
Capital Asset Statistics by Function
Last Ten Fiscal Years
Fiscal Years
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
5
5
5
5
5
5
5
5
4
4
161
155
147
155
155
155
155
120
125
112
8
8
8
8
9
9
9
10
9
9
11
8
8
11
9
9
9
9
12
12
3
3
3
3
3
3
1
1
1
1
1
1
1
1
1
1
1
1
0
0
91
91
91
91
91
91
14
14
14
91.4
307
307
307
306
306
306
297
297
297.27
306.3
24
27
26
26
26
26
26
26
26
26
2
2
2
2
2
2
2
2
2
2
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
4
4
4
4
3
3
3
3
3
3
78
89
89
89
89
89
89
97
144
165
4
4
4
4
4
4
4
4
4
4
50
50
50
50
50
50
50
50
36
51
16
16
16
16
16
16
16
16
34
36
5
5
5
5
5
5
5
5
5
5
8 8 10 10 10 10 10 10 10 10
Sources: Various county departments
Note 1: No capital asset indicators are available for the general government.
COMPLIANCE SECTION
Cherry "'
Report of Independent Auditor 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
To the Honorable Mayor and Board
of County Commissioners of
Monroe County, Florida:
We have audited, in accordance with 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, 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 Monroe County, Florida (the "County") as of and for the year ended September 30, 2016, and the
related notes to the financial statements, which collectively comprise the County's basic financial statements,
and have issued our report thereon dated March 31, 2017 for the purpose of compliance with Section 281.39(2),
Florida Statutes, and Chapter 10.550, Rules of the Auditor General -Local Government Entity Audits.
Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the County's internal control
over financial reporting (internal control) to determine the audit procedures that are appropriate in the
circumstances for the purpose of expressing opinions on the financial statements, but not for the purpose of
expressing an opinion on the effectiveness of the County's internal control. Accordingly, we do not express an
opinion on the effectiveness of the County'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 combination of deficiencies, in internal
control, such that there is a reasonable possibility that a material misstatement of the County'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 and therefore, material weaknesses or significant deficiencies may exist that were not
identified. 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 may exist that have not been identified.
We did identify a deficiency described in the accompanying schedule of findings and questioned costs as item
2016-001 that we consider to be a significant deficiency.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the County's financial statements are free of 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 determination of
financial statement amounts. 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.
J-1
County's Response to Finding
The County's response to the finding identified in our audit is described in the accompanying schedule of
findings and questioned costs. The County's response was not subjected to the auditing procedures applied in
the audit of the financial statements and accordingly, we express no opinion on the response.
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 County'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 County's internal control and compliance. Accordingly, this communication is not
suitable for any other purpose.
Orlando, Florida
March 31, 2017
J-2
Cherry aert"'
Report of Independent Auditor on Compliance for Each Major Federal
Awards Program and State Financial Assistance Project and on Internal
Control Over Compliance Required by OMB Uniform Guidance and
Chapter 10.550, Rules of the Auditor General
To the Honorable Mayor and Board
of County Commissioners of
Monroe County, Florida:
Report on Compliance for Each Major Federal Program and State Financial Assistance Project
We have audited the compliance of Monroe County, Florida (the "County") with the types of compliance
requirements described in the OMB Compliance Supplement and the requirements described in the State of
Florida Department of Financial Services' State Projects Compliance Supplement, that could have a direct and
material effect on each of the County's major federal programs and state financial assistance projects for the
year ended September 30, 2016. The County's major federal programs and state financial assistance projects
are identified in the summary of auditor's results section of the accompanying schedule of findings and
questioned costs.
Management's Responsibility
Management is responsible for compliance with the requirements of laws, regulations, contracts, and grants
applicable to its federal awards programs and state financial assistance projects.
Auditor's Responsibility
Our responsibility is to express an opinion on compliance for each of the County's major federal awards
programs and state financial assistance projects based on our audit of the types of compliance requirements
referred to above. We conducted our audit of compliance in accordance with auditing standards generally
accepted in the United States of America; the standards applicable to financial audits contained in Government
Auditing Standards, issued by the Comptroller General of the United States; and 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 Chapter 10.550, Rules of the Auditor General.
Those standards, OMB Uniform Guidance, and Chapter 10.550, Rules of the Auditor General, require that we
plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of
compliance requirements referred to above that could have a direct and material effect on a major federal award
program or state financial assistance project occurred. An audit includes examining, on a test basis, evidence
about the County's compliance with those requirements and performing such other procedures as we
considered necessary in the circumstances.
We believe that our audit provides a reasonable basis for our opinion on compliance for each major federal
awards programs and state financial assistance projects. However, our audit does not provide a legal
determination of the County's compliance.
Opinion on Each Major Federal Program and State Financial Assistance Project
In our opinion, the County complied, in all material respects, with the types of compliance requirements referred
to above that could have a direct and material effect on each of its major federal programs and state financial
assistance projects for the year ended September 30, 2016.
J-3
Report on Internal Control over Compliance
Management of the County is responsible for establishing and maintaining effective internal control over
compliance with the types of requirements referred to above. In planning and performing our audit, we
considered the County's internal control over compliance with the types of requirements that could have a direct
and material effect on its major federal awards programs and state financial assistance projects to determine the
auditing procedures that are appropriate in the circumstances for the purpose of expressing our opinion on
compliance for each major federal award program and each state financial assistance project and to test and
report on internal control over compliance in accordance with OMB Uniform Guidance and Chapter 10.550,
Rules of the Auditor General, but not for the purpose of expressing an opinion on the effectiveness of internal
control over compliance. Accordingly, we do not express an opinion on the effectiveness of the County's 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 awards
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 award 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 first
paragraph of this section and was not designed to identify all deficiencies in internal control over compliance
that might be material weaknesses or significant deficiencies and therefore, material weaknesses or significant
deficiencies may exist that were not identified. We did not identify any deficiencies in internal control over
compliance that we consider to be material weaknesses. However, material weaknesses may exist that have
not been identified.
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 OMB Uniform
Guidance and Chapter 10.550, Rules of the Auditor General. Accordingly, this report is not suitable for any other
purpose.
Orlando, Florida
March 31, 2017
J-4
Monroe County, Florida
Schedule of Expenditures of Federal Awards
and State Financial Assistance
For the Year Ended September 30, 2016
Federal/State Agency, Passed Through
Pass -through Entity CFDA to
Federal Program/State Project Number Contract / Grant Number Expenditures Subrecipients
Department of Health and Human Services:
Aging Cluster:
Passed through Florida Department of Elder Affairs and Alliance for
Aging:
Title 11113 Grants for Supportive Services & Senior Centers - 2015 93.044 AA-1529
Title 11113 Grants for Supportive Services & Senior Centers - 2016 93.044 AA-1629
Title IIIC1 Nutrition Services (Congregate Meals) 2015
Title IIIC1 Nutrition Services (Congregate Meals) 2016
Title IIIC2 Nutrition Services (Home Delivered Meals) 2015
Title IIIC2 Nutrition Services (Home Delivered Meals) 2016
Nutrition Services Incentive Program - 2015
Nutrition Services Incentive Program - 2016
Total Aging Cluster
Title IIIE National Family Caregiver Support - 2015
Title IIIE National Family Caregiver Support - 2016
Total Program
Passed through Florida Department of Revenue, Agency for Children and
Families, and Office of Child Support Enforcement:
Child Support Enforcement Title IV-D
Passed through Florida Department of Economic Opportunity. -
Low Income Home Energy Assistance Program - 2015
Low Income Home Energy Assistance Program - 2016
Low Income Home Energy Assistance ProgramiWAP-2015
Total Program
Total Federal Agency
The accompanying notes are an integral part of this schedule.
93.045 AA-1529
93.045 AA-1629
93.045 AA-1529
93.045 AA-1629
93.053 US-1551
93.053 US-1651
$ 5,560 $
84,686
90,246
36,438
102,012
75,886
195,888
410,224
8,315
27,246
'�S S;ri -
536,031
93.052 AA-1529 15,578
93.052 AA-1629 60,701
76,279
93.563 COC44
93.568 15EA-OF-11-54-01-019
93.568 16EA-OF-11-54-01-019
93.568 15WX-OG-11-54-01-039
285,133
76,856
127,992
953
205,801
1,103,244
(Continued)
J-5
Monroe County, Florida
Schedule of Expenditures of Federal Awards
and State Financial Assistance
For the Year Ended September 30, 2016
Federal/State Agency,
Passed Through
Pass -through Entity
CFDA
to
Federal Program/State Project
Number
Contract / Grant Number
Expenditures
Subrecipients
Department of Justice:
Equitable Sharing Agreement
16.922
193,390
Direct Program:
Bureau of Justice Assistance:
Edward Byrne Memorial Justice Assistance Grant - Drug Court
Medical Director Initiative
16.738
2015-DJ-BX-0071
12,795
Passed through Office of the Attorney General:
Crime Victim Assistance
16.575
V029-14231
306,186
-
Passed through Florida Department of Law Enforcement:
Edward Byrne Memorial Justice Assistance Grant - Court Mandated,
Criminal/Substance Abuse Case Management
16.738
2015-JAGC-MONR-5-R3-24
4,124
4,124
Edward Byrne Memorial Justice Assistance Grant - Guidance Care:
Assisted Living Prevents Recidivism
16.738
2016-JAGC-MONR-2-H3-23
40,472
40,472
Edward Byrne Memorial Justice Assistance Grant - Women's Jail
Incarceration Drug Abuse Program
16.738
2016-JAGC-MONR-1-H3-18
33,940
33,940
Total Program
78,536
78,536
Total Federal Agency
590,907
78,536
Executive Office of the President:
Direct Program:
High Intensity Drug Trafficking Areas Program
95.001
G16MI0001A
1,889,405
-
High Intensity Drug Trafficking Areas Program
95.001
G15MI0001A
5,711,164
High Intensity Drug Trafficking Areas Program
95.001
G14MI0001A
2,686,796
High Intensity Drug Trafficking Areas Program
95.001
G16ACOOO5A
780,517
High Intensity Drug Trafficking Areas Program
95.001
G15AC0004A
27,593
High Intensity Drug Trafficking Areas Program
95.001
G15ACOOO5A
1,610,090
High Intensity Drug Trafficking Areas Program
95.001
G14ACOOO5A
629,271
High Intensity Drug Trafficking Areas Program
95.001
G13AC0004A
16,229
High Intensity Drug Trafficking Areas Program
95.001
G13ACOOO5A
167,313
High Intensity Drug Trafficking Areas Program
95.001
G12ACOOO5A
893
High Intensity Drug Trafficking Areas Program
95.001
G16PR0001A
2,268,765
High Intensity Drug Trafficking Areas Program
95.001
G15PR0001A
2,747,728
High Intensity Drug Trafficking Areas Program
95.001
G14PR0001A
1,289,997
High Intensity Drug Trafficking Areas Program
95.001
G13PR0001A
18,574
Total Federal Agency
19,844,335
The accompanying notes are an integral part of this schedule.
(Continued)
J-6
Monroe County, Florida
Schedule of Expenditures of Federal Awards
and State Financial Assistance
For the Year Ended September 30, 2016
Federal/State Agency,
Pass -through Entity CFDA
Federal Program/State Project Number Contract / Grant Number Expenditures
Department of Transportation:
Direct Program:
Federal Aviation Administration -Airport Improvement Program:
Key West AIP-3747
Key West AIP-3748
Key West AIP-3749
Key West AIP-3750
Key West AIP-3751
Marathon AIP-4431
Marathon AIP-4433
Total Program
Federal Highway Administration:
Highway Planning and Construction Cluster
Transportation Planning Program 2012
Garrison Bight Bridge Repair Project
Scenic Highway Overlooks
No Name Key Bridge Repair Project
Pedestrian Bridge Over Marvin Waterway
Lower Keys Scenic Viewing Area
The Pigeon Key Ramp Repair Design Project
Total Highway Planning and Construction Cluster
Total Federal Agency
Department of Homeland Security:
Passed through Florida Division of Emergency Management:
Emergency Management Performance Grant FY15-16
Emergency Management Performance Grant FY16-17
Total Program
The accompanying notes are an integral part of this schedule.
Passed Through
to
Subrecipients
20.106
3-12-0037-047-2013
412,719
20.106
3-12-0037-048-2014
29,136
20.106
3-12-0037-049-2015
452,072
20.106
3-12-0037-050-2015
525,789
20.106
3-12-0037-051-2015
264,461
20.106
3-12-0044-031-2013
20,022
20.106
3-12-0044-032-2015
224,525
1,928,724
20.205
25222811407/AQN53
76,429
20.205
431918-1/G0326
170,507
20.205
428064-1/AR386
29,732
20.205
430121-2/ARD00
400,328
20.205
434689-1/G0281
475,000
20.205
435511-1/ARP58
40,758
20.205
436566-1/ARQ41
79,971
1,272, 725
3,201,449
97.042 16-FG-5A-11-54-01-111
97.042 17-FG-P9-11-54-01-118
22,212
38,087
rn )aa
(Continued)
J-7
Monroe County, Florida
Schedule of Expenditures of Federal Awards
and State Financial Assistance
For the Year Ended September 30, 2016
Federal/State Agency, Passed Through
Pass -through Entity CFDA to
Federal Program/State Project Number Contract / Grant Number Expenditures Subrecipients
Department of Homeland Security - Continued:
State Homeland Security Grant Program - 2014
Passed through the City of Miami:
Urban Area Security Initiative Grant Program - 2014
Total Program
Total Federal Agency
Department of Energy:
Passed through Florida Department of Economic Opportunity:
Weatherization Assistance Program - 2015
Environmental Protection Agency:
Surveys, Studies, Investigations, Demonstrations, and
Training Grants:
FL Keys Citizen Water Monitoring, Education & Canal Restoration
FL Keys Waterwatch
Monroe County Geographic Program
Total Federal Agency
Department of the Interior: US Fish and Wildlife Services
Passed through Department of Environmental Protection:
Clean Vessel Act Grant Program FY15 (CVA15-754)
Clean Vessel Act Grant Program FY16 (CVA16-786)
Total Federal Agency
Department of Housing and Urban Development:
Passed through Florida Department of Economic Opportunity:
Community Development Block Grant
Total Federal Agency
United States Treasury Department:
Equitable Sharing Agreement
Total Federal Agency
Total Expenditures of Federal Awards
97.067 15DS-P5-11-54-01-415
97.067 15DS-P8-11-23-02-453
18,750
120,122
138,872
199,171
81.042 15WX-OG-11-54-01-039 1,824
66.436 OOD26914
66.436 OOD41115-0
66.436 OOD40915-1
15.616 MV174
15.616 MV204
8,367
13,630
72,879
94,876
169,425
43,087
212,512
14.228 12-DB-05-11-54-01-H15 61,721
61,721
21.000 234,309
234,309 -
$ 25,544,348 $ 78,536
The accompanying notes are an integral part of this schedule. (Continued)
J-8
Monroe County, Florida
Schedule of Expenditures of Federal Awards
and State Financial Assistance
For the Year Ended September 30, 2016
Passed Through
CSFA to
State Agency Number Contract / Grant Number Expenditures Subrecipients
Executive Office of the Governor:
Emergency Management Programs FY15-FY16
Total Department
Florida Department of Children and Families:
Community Care for Disabled Adults - FY15-FY18
Total Department
Florida Department of Elder Affairs:
Passed through The Alliance for Aging:
Home Care for the Elderly - 2015
Home Care for the Elderly - 2016
Total Program
Alzheimer's Respite Services - 2015
Alzheimer's Respite Services - 2016
Total Program
Community Care for the Elderly - 2015
Community Care for the Elderly - 2016
Total Program
Total Department
Florida Department of Environmental Protection:
Small County Consolidated Grant
Statewide Surface Water Restoration and Wastewater Projects:
Monroe County Mobile Vessel Pumpout Service
Tropical Bay Estates Canal #277 Culvert Installation
Mayfield Grant
Total Program
Clean Water State Revolving Fund Loan
Total Department
Florida Department of Health:
EMS County Award
Total Department
Florida Department of Juvenile Justice:
Intensive Delinquency Diversion Service
Total Department
31.063 16-BG-83-11-54-01-044 $ 103,691 $
103,691
60.008 KG070 49,983
49,983
65.001
KH1572
8,708
65.001
KH1672
2,966
11,674
65.004
KZ1597
113,885
65.004
KZ1697
21,223
135,108
65.010
KC1571
343,767
65.010
KC1671
111,704
455,471
602,253
37.012
624SC
90,909
37.039
S0901
100,000
37.039
S0911
50,000
37.039
DEP LP44072
194,709
N/A
LP44072
344,709
37.077
WW440710
10,156,930
10,592,548
64.005 C4044 8,815
8,815
80.022 X1718 124,849
124,849
The accompanying notes are an integral part of this schedule. (Continued)
J-9
Monroe County, Florida
Schedule of Expenditures of Federal Awards
and State Financial Assistance
For the Year Ended September 30, 2016
Passed Through
CSFA
to
State Agency
Number
Contract / Grant Number
Expenditures Subrecipients
Florida Department of State:
State Aid Libraries - 2015
45.030
15-ST-37
44,717
State Aid Libraries - 2016
45.030
16-ST-36
33,344
Total Program
78,061
Historic Preservation Grant
45.031
F1503
39,100
Total Department
117,161
Florida Department of Transportation:
Transportation Planning Program 2012
55.023
25222811407/AQN53
12,738
Pigeon Key Ferry Service
55.023
41454515802/ARX57
125,000
Total Program
137,738
Aviation Development Grants:
Key West Airport
55.004
43113389401/GO562
14,692
Key West Airport
55.004
43791919401/GO553
43,417
Key West & Marathon Airport
55.004
43113379401/AQH10
176,406
Key West & Marathon Airport
55.004
25426929401/AQE35
422,477
Marathon Airport
55.004
42043619401/AQ606
36,612
Marathon Airport
55.004
43113129401/ARK80
166,191
Total Program
859,795
County Incentive Grant Program (No Name Key Bridge Repair Project)
55.008
430121-1/ARD00
545,262
Small County Outreach Program (Card Sound Bridge Repair Project)
55.009
431917-2/G0320
1,094,430
Total Department
2,637,225
Florida Fish & Wildlife Conservation Commission:
Passed through Department of Environmental Protection
Keys -Wide Mobile Vessel Pumpout Service
MV205
125,000
Monroe County Maintenance/Initial Project 2015-2016
13101
130,000
Florida Boating Improvement Program:
Removal of Derelict Vessels & Floating Structures
77.006
15084
71,449
Total Department
326,449
Florida Housing Finance Corporation:
State Housing Initiative Partnerhsip Program 2014-2015
40.901
SHIP 13-16 PLAN 3 YR 2
440,501
State Housing Initiative Partnerhsip Program 2015-2016
40.901
SHIP 13-16 PLAN 3 YR 3
162,127
Total Department
602,628
Total Expenditures of State Financial Assistance
$ 15,165,602 $
The accompanying notes are an integral part of this schedule.
(Continued)
J-10
Monroe County, Florida
Notes to Schedule of Expenditures of Federal Awards and
State Financial Assistance
For the Year Ended September 30, 2016
Note 1— Basis of Presentation
The Schedule of Federal Awards and State Financial Assistance Projects (the "Schedule")
presents a summary of the activity of all the Federal and State grant programs of Monroe County,
Florida (the "County") for the fiscal year ended September 30, 2016. The County's reporting
entity is defined in Note 1 of the notes to the County's basic financial statements.
Federal awards are presented for each federal agency by the Catalog of Federal Domestic
Assistance (CFDA) number and state awards are presented for each state agency by the Catalog
of State Financial Assistance (CSFA) number when available in the grant agreements or
determinable based on a grant's source and purpose. For grants that did not clearly state a CFDA
or CSFA number, the schedule includes the grant with a CFDA or CSFA number of N/A for not
available.
Note 2 — Summary of Significant Accounting Policies
The accounting policies and presentation of the Schedule are presented on the modified accrual
basis of accounting and in accordance with accounting principles generally accepted in the United
States of America as applicable to governmental organizations. The information in the Schedule
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). Therefore, some amounts presented in the Schedule may differ
from amounts presented in, or used in the preparation of the basic financial statements.
Monroe County has elected not to use the 10-percent de minimis indirect cost rate as allowed
under the Uniform Guidance.
J-11
MONROE COUNTY, FLORIDA
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Part I — Summary of Auditor's Results
Financial Statement Section
Type of auditor's report issued:
Unmodified
Internal control over financial reporting
Material weakness(es) identified? _ yes X no
Significant deficiency(ies) identified? X yes none reported
Noncompliance material to financial yes X no
statements noted?
Federal Awards and State Projects Section
Internal control over major programs:
Material weakness(es) identified? yes X no
Significant deficiency(ies) identified? yes X none reported
Type of auditor's report issued on compliance for
major federal programs and state projects: Unmodified
Any audit findings disclosed that are required to be
reported in accordance with 2 CFR 200.516(a)
and/or Chapter 10.550 yes X no
Identification of major federal programs and state projects:
Federal Programs:
Name of Program or Cluster CFDA Number
Executive Office of the President
High Intensity Drug Trafficking Areas 95.001
Department of Transportation
Federal Aviation Administration 20.106
J-12
MONROE COUNTY, FLORIDA
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Part I — Summary of Auditor's Results (continued)
Federal Awards and State Projects Section (continued)
State Projects:
Name of Proiect CSFA Number
Florida Department of Elder Affairs
Community for the Elderly 65.010
Florida Department of Environmental Protection
Clean Water State Revolving Fund Loan 37.077
Florida Department of Environmental Protection
No Name Key Bridge Repair Project 55.008
Florida Department of Environmental Protection
Small County Outreach Program 55.009
Florida Housing Finance Corporation
State Housing Initiative Partnership Program 40.901
Florida Department of Transportation
Aviation Development Grant 55.004
Dollar threshold used to determine Type A programs:
Federal $ 766,330
State $ 454,968
Auditee qualified as low -risk auditee for federal purposes _ yes X no
Part II - Schedule of Financial Statement Findings
This section identifies the significant deficiencies, material weaknesses, fraud, illegal acts, violations of provisions
of contracts and grant agreements, and abuse related to the financial statements that are required to be reported
in accordance with Government Auditing Standards.
Finding 2016-001
Significant Deficiency
Late postings and payments
Criteria: An effective system of internal control includes methods for insuring that transactions be recorded in a
timely manner in order for the books and records to be accurate at any point in time.
Condition and Context: Although we noted improvement over the prior year, our testing of cash receipts,
journal entries and procurement cards revealed that at times cash receipts and journal entries were posted late
and at times the procurement card invoices were paid after the due date. These late postings and late payments
were due to workload issues in Finance and the fact that the documentation to support the transaction was not
provided to Finance in a timely manner.
J-13
MONROE COUNTY, FLORIDA
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Effect: Late posting of cash receipts and journal entries results in the books and records of the County to be less
than accurate until the underlying transactions are posted and late payment of procurement card statements may
result in the card being rendered unusable to the holder until payment is made.
Cause: Workload issues in Finance for part of the year and lack of coordination between departments.
Recommendation: We recommend that the County establish procedures to ensure that Finance be provided
all documentation within a reasonable time frame to allow for the timely posting of cash receipts, journal entries
and payment of procurement card invoices. Additionally we recommend cross -training of Finance staff to avoid
work backlog due to employee absences.
Management Response: We agree with this recommendation and will work with the Board of County
Commissioners to establish procedures to ensure documentation is provided to the Finance Department on a
timely basis. In addition, the Finance Department will ensure staff is sufficiently cross -trained to minimize work
back -log and delays in posting transactions to the accounting records.
Part III - Federal Award Findings and Questioned Costs
This section identifies the significant deficiencies, material weaknesses, and material instances of noncompliance,
including questioned costs, as well as any material abuse findings, related to the audit of major federal programs,
as required to be reported by 2 CFR 200.516(a) of OMB Uniform Guidance.
None noted.
Part IV - State Project Findings and Questioned Costs
This section identifies the significant deficiencies, material weaknesses, and material instances of noncompliance,
including questioned costs, as well as any material abuse findings, related to the audit of major state projects, as
required to be reported by Chapter 10.550, Rules of the Auditor General - Local Governmental Entity Audits.
None noted.
J-14
MONROE COUNTY, FLORIDA
CORRECTIVE ACTION PLAN
FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Section II - Financial Statement Findings
Finding 2016-001
Name of contact person: Pam Radloff, Finance Director
Corrective Action: See management's response in the finding.
Proposed completion date: See management's response in the finding.
J-15
MONROE COUNTY, FLORIDA
SUMMARY SCHEDULE OF PRIOR YEAR AUDIT FINDINGS
FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Finding 2015-001
Status: Corrected
Finding 2015-002
Status: Not Corrected. See finding 2016-001.
J-16
Cherry ert"
Independent Auditor's Management Letter
To the Honorable Mayor and Board
of County Commissioners of
Monroe County, Florida:
Report on the Financial Statements
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 Monroe
County, Florida (the "County"), as of and for the year ended September 30, 2016, and have issued our report
thereon dated March 31, 2017.
Auditor's Responsibility
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America; the standards applicable to financial audits contained in Government Auditing Standards, issued by
the Comptroller General of the United States; 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 Chapter 10.550, Rules of the Auditor General.
Other Reports and Schedule
We have issued our Report of Independent Auditor on Internal Control over Financial Reporting and on
Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with
Government Auditing Standards; Report of Independent Auditor on Compliance for Each Major Federal Awards
Program and State Financial Assistance Project and on Internal Control over Compliance Required by Uniform
Guidance and Chapter 10.550, Rules of the Auditor General; Schedule of Findings and Questioned Costs; and
Report of Independent Accountant on Compliance with Local Government Investment Policies and E911
Requirements of Section 365.172 and 365.173, Florida Statutes. Disclosures in those reports and schedule,
which are dated March 31, 2017, should be considered in conjunction with this management letter.
Prior Audit Findings
Section 10.554(1)(i)l., Rules of the Auditor General, requires that we determine whether or not corrective
actions have been taken to address findings and recommendations made in the preceding annual financial audit
report. Reference to such matters is provided in separate management letters for each County agency, where
applicable.
Official Title and Legal Authority
Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal authority for
the primary government and each component unit of the reporting entity be disclosed in this management letter,
unless disclosed in the notes to the financial statements. Such disclosure is included in notes to the financial
statements.
Financial Condition
Section 10.554(1)(i)5.a. and 10.556(7), Rules of the Auditor General, require that we apply appropriate
procedures and report the results of our determination as to whether or not the County has met one or more of
the conditions described in Section 218.503(1), Florida Statutes, and identification of the specific condition(s)
met. In connection with our audit of the financial statements of the County, the results of our tests did not
indicate the County met any of the specified conditions of a financial emergency contained in Section
218.503(1), Florida Statutes.
Pursuant to Sections 10.554(1)(i)5.c. and 10.556(8), Rules of the Auditor General, we applied financial condition
assessment procedures. It is management's responsibility to monitor the County's financial condition, and our
financial condition assessment was based in part on representations made by management and the review of
financial information provided by management.
K-1
Annual Financial Report
Section 10.554(1)(i)5.b. and 10.556(7), Rules of the Auditor General, require that we apply appropriate
procedures and report the results of our determination as to whether the annual financial report for the County
for the fiscal year ended September 30, 2016, filed with the Florida Department of Financial Services pursuant
to Section 218.32(1)(a), Florida Statutes, is in agreement with the annual financial audit report for the fiscal year
ended September 30, 2016. Our comparison of these two reports resulted in no material differences.
Deepwater Horizon Oil Spill
Section 10.556(10)(e), Rules of the Auditor General, requires a determination of the County's compliance with
Federal and State laws, regulations, contracts or grant agreements related to the receipt and expenditure of
funds related to the Deepwater Horizon oil spill. The County's Deepwater Horizon oil spill funds received are
unrestricted and, therefore, do not have related compliance requirements.
Other Matters
Section 10.554(1)(i)2., Rules of the Auditor General, requires that we address in the management letter any
recommendations to improve the County's financial management. Reference to such matters is provided in
separate management letters for each County agency, where applicable.
Section 10.554(1)(i)3., Rules of the Auditor General, requires that we address noncompliance with provisions of
contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect
on the financial statements that is less than material but which warrants the attention of those charged with
governance. Reference to such matters is provided in separate management letters for each County agency,
where applicable.
Purpose of this Letter
The purpose of this management letter is to communicate certain matters prescribed by Chapter 10.550, Rules
of the Auditor General. Accordingly, this management letter is not suitable for any other purpose.
Orlando, Florida
March 31, 2017
K-2
001
w.m% Cherry _'
Report of Independent Accountant on Compliance
with Local Government Investment Policies and E911 Requirements of Sections 365.172 and
365.173, Florida Statutes
To the Honorable Mayor and Board
of County Commissioners of
Monroe County, Florida:
Report on Compliance
We have examined the Monroe County, Florida (the "County") compliance with the local government investment
policy requirements of Section 218.415, Florida Statutes, and E911 requirements of Sections 365.172 and
365.173, Florida Statutes, for the year ended September 30, 2016. Management is responsible for the County's
compliance with those requirements. Our responsibility is to express an opinion on the County's compliance
based on our examination.
Scope
Our examination was conducted in accordance with attestation standards established by the American Institute
of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the
County's compliance with those requirements and performing such other procedures as we considered
necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion.
Our examination does not provide a legal determination on the County's compliance with specified
requirements.
Opinion
In our opinion, the County complied, in all material respects, with the aforementioned requirements for the year
ended September 30, 2016.
Orlando, Florida
March 31, 2017
K-3
MONROE COUNTY, FLORIDA
SCHEDULE OF RECEIPTS AND EXPENDITURES OF
FUNDS RELATED TO THE DEEPWATER HORIZON OIL SPILL
For the Year Ended September 30, 2016
Amount
Amount
Received in the
Expended in the
2015-16
2015-16
Source Fiscal Year
Fiscal Year
Environmental Clean Up Consortium:
British Petroleum
Agreement No. 140596 $ 4,975 $
$ 4,975 $
Note to Schedule of Receipts and Expenditures of Funds Related to the Deepwater Horizon Oil Spill:
In FY 2015, Monroe County received $1,107,947 from British Petroleum as a settlement under Agreement
No. 140596. In FY 2016, the County earned $4,975 in interest earnings on the settlement funds received from
British Petroleum. The County did not expend any of these settlement funds during the fiscal year.
L-1