Fiscal Year 2017Monroe County, Florida
Comprehensive Annual Financial Report
For Fiscal Year Ended
September 30, 2017
MONROE COUNTY, FLORIDA
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED
SEPTEMBER 30, 2017
KEVIN MADOK, CPA
CLERK OF THE CIRCUIT COURT & COMPTROLLER
9 11, xJO - I .
CLERK OF THE CIRCUIT COURT FINANCE DEPARTMENT
PAM RADLOFF, CPA
FINANCE DIRECTOR
This page is intentionally left blank.
MONROE COUNTY, FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2017
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-9
List of Elected and Appointed Officials A-10
Organizational Chart A-11
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, 2017
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
Big Coppitt Municipal Service Taxing Unit
H-57
Key Largo Municipal Service Taxing Unit
H-58
Stock Island Wastewater Municipal Service Taxing Unit
H-59
Conch Key Municipal Service Taxing Unit
H-60
Long Key -Layton Municipal Service Taxing Unit
H-61
Duck Key Municipal Service Taxing Unit
H-62
Building Fund
H-63
Clerk's Revenue Note Capital Projects Fund
H-64
Infrastructure Revenue Bonds Series 2007 Capital Projects Fund
H-65
Big Coppitt Wastewater Project Capital Projects Fund
H-66
Duck Key Wastewater Project Capital Projects Fund
H-67
Long Key Wastewater Project Capital Projects Fund
H-68
Land Acquisition Fund Capital Projects Fund
H-69
Sheriffs Teen Court
H-70
Sheriffs Federal Forfeiture
H-71
Sheriffs State Forfeiture
H-72
Sheriffs Contract Administrative
H-73
Sheriffs Commissary
H-74
Sheriffs Interagency Communications
H-75
Sheriffs Trauma Star
H-76
Sheriffs Radio Communications
H-77
Sheriffs Grants
H-78
MONROE COUNTY, FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2017
PAGE
Sheriffs Shared Asset Forfeiture H-79
Sheriffs E911 H-80
Clerk's Records Modernization H-81
Clerk's Court Related H-82
Schedules of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
Major Governmental Funds:
One Cent Infrastructure Surtax Capital Project Fund H-83
Cudjoe Regional Wastewater Capital Project Fund H-84
Infrastructure Revenue Bonds Series 2014 Capital Projects Fund H-85
All Debt Service Funds H-86
Combining Statement of Net Position - Internal Service Funds H-88
Combining Statement of Revenues, Expenses, and Changes in Net Position -
Internal Service Funds H-90
Combining Statement of Cash Flows - Internal Service Funds H-92
Combining Statement of Fiduciary Net Position - All Agency Funds H-96
Combining Statement of Changes in Fiduciary Net Position - All Agency Funds H-97
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, 2017
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
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
Summary Schedule of Prior Year Audit Findings - Federal Awards Programs and State
J-15
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
„Ayf"¢,�l'F Gc7Ui;p�"kl
CPA Kevin Madok,
k Clerk of the Circuit Court & Comptroller— Monroe County, Florida
March 29, 2018
The Honorable David Rice
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, 2017.
Monroe County's CAFR is prepared by the Finance Department under the direction of the Clerk
of the Circuit Court & Comptroller (Clerk). Responsibility for both the accuracy of the presented
data and the completeness and fairness of the presentation, including all disclosures, rests with
the Clerk as Chief Financial Officer of Monroe County, Florida (the 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 the County as measured by the financial activity. 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. The report, Single Audit/Grants Compliance
Schedules, is published in this CAFR 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. The County's auditor, Cherry Bekaert
LLP has issued an unmodified ("clean”) opinion on the Monroe County, Florida financial
KEYWESTOFFICE MARATHON PLANTATION KEY PK/ROTHOFFICE
500Whitehead Street 3117 Overseas Highway 88820 Overseas Highway 50 High Point Road
Key West, Florida 33040 Marathon, Florida 33050 Plantation Key, Florida 33070 Plantation Key, Florida 33070
305-294-4641 305-289-6027 305-852-7145 305-852-7145
statements for the year ended September 30, 2017. The report of the independent auditor is
located at the front of the Financial Section in this CAFR.
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
in this CAFR and fulfills this requirement. 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 longest
bridge, known as the "7 Mile Bridge", connects Knight's Key in the Middle Keys to Little Duck
Key in the Lower Keys. It was among the longest bridges in existence when it was initially built
from 1909 to 1912. A new bridge was finished in 1982 but the old bridge still remains in place
and services, via pedestrians and cyclists, Pigeon Key, the historic island at the center of the
bridge.
Monroe County is the southernmost county in the United States with only one road, U.S. 1,
connecting some of the islands known as the Florida Keys. The Zero Mile Marker for U.S. 1 is
outside of the County courthouse in Key West. The majority of U.S. 1 was built on the former
right-of-way of Henry Flagler's Florida East Cost Railroad which was destroyed as a direct result
of the 1935 hurricane. This road is 2,369 miles from Key West to Fort Kent, Maine, at the
Canadian border. The Monroe County section of the road is more commonly known as the
"Overseas Highway" and referred to as the Florida Keys Scenic Highway. The corridor extends
five miles into the crystal clear waters on each side of the highway.
The County seat, Key West, is approximately one hundred and fifty miles southwest of Miami.
Havana, Cuba lies a mere ninety miles to the south. The County is identified by the Florida
Department of Economic Opportunity, Division of Community Planning and Development as the
"Florida Keys Area of Critical State Concern" due the environmental sensitivity of its lands.
Moreover, the County's outdoor recreation lands falls under the Florida's Land Conservation
Program which reviews all growth and development decisions as outlined in comprehensive
plans and the land development regulations.
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 (Board) 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
I_�►a
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 can be found in Note 1 of the Notes to the Financial Statements.
Buffet
According to Florida Statutes, Chapter 129, a budget shall be prepared, balanced, approved,
adopted, and executed each fiscal year (October 1 through September 30). The Board conducts
budget meetings on departmental budgets and Constitutional Officers' requests. A tentative
budget is prepared, reviewed, and adopted and the tax levies are calculated and advertised. Three
public hearings are held for public input regarding the tentative budgets and proposed tax levies.
On the last of the three public hearings a final budget is approved by the Board.
Formal budgetary integration is employed as a management control device during the year for all
fund types. During the year, the Office of Management and Budget acts on intradepartmental
cost center budget changes and interdepartmental cost center budget changes are submitted to the
Board as a Budget Resolution for approval. A budget amendment is required when alterations
are made to a fund's total revenues or expenditures. The Board may adopt the budget amendment
after public hearings are held.
Budget to Actual Statements are presented in various locations in the CAFR and the budget
process is further explained in Note 1 to the Financial Statements.
Economic Condition and Outlook
Local Economy
Monroe County occupies a unique and beautiful corner of the United States. The County has the
only living coral barrier reef in the continental United States and includes the Florida Keys
National Marine Sanctuary, the largest national marine sanctuary. The Florida Keys outer reefs
form the third largest barrier reef system in the world. The Florida Keys 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.
Seven of the top ten taxpayers in Monroe County are in the hospitality industry. With airport
enplanements increasing by 8.5% in the past year, the County's bed tax revenues continue to
increase each year since 2009, including a 3.3% increase from FY 2016 to FY 2017.
The 2016 tax roll assessed and property tax collections in 2017 remained approximately the same
as the prior year. All taxable sales have increased by 1.5% from 2016 levels.
The local economy continued on an upward trend throughout most of fiscal year 2017 until the
County experienced a direct hit from Hurricane Irma in September 2017. This Category 4
hurricane was the strongest to ravage the County in decades. While the County and its residents
have worked hard to minimize the impact of the storm on the local economy, the County has had
to shift its focus over the past number of months to manage its recovery efforts including debris
removal as well as marine debris removal, housing strategies for residents and workforce alike,
assistance in procuring grants and programs, and repairs on the local government infrastructure.
It is too soon to determine the overall impact Hurricane Irma will have on the County's
economy.
Long-term Financial Planning
Capital project funding is derived from multiple sources which include impact fees, various
grants, One Cent Infrastructure Sales Surtax, state revolving funds, and the issuance of revenue
bonds.
A large revenue source for capital projects is derived from the One Cent Infrastructure Surtax.
The tax, maintained in a separate fund, allows for the imposition on both residents and visitors a
one percent tax on most purchases in the County. This revenue source has generated over $365
million since its 1990 inception. In FY 2013, Monroe County residents approved a referendum
providing an extension of the One Cent Infrastructure Sales Surtax to FY 2033.
The County's Capital Improvement Plan (Plan) identifies capital projects that are to be funded
from FY 2018 through FY 2022, a five year period. The adopted annual capital budget represents
the first year of the multi -year Plan. The Plan also allows the County to maintain the value of its
long term infrastructure assets such as buildings, roads, bridges, and parks.
Some of the highlights from the 2018-2022 Plan to be funded with One Cent Infrastructure
Surtax include:
• General Government:
- $2.7 million for Jefferson Browne Courthouse.
• Culture and Recreation:
- $6.1 million for Marathon Library;
- $4.6 million for Higg's Beach Master Plan.
• Public Safety:
- $24.2 million for Plantation Key Courthouse and Detention Center;
- $3.8 million for Cudjoe Fire Station.
UM
The following are major capital projects that were substantially completed in FY 2017:
• Crawl Key Fire Rescue Training Academy;
• Florida Keys Marathon International Custom Facility; and
• Bernstein Park renovation.
In addition, two roadway and drainage improvement projects in Key Largo were completed this
past fiscal year: Lake Surprise Estates Roadway and Sexton Cove Estates Roadway. The County
purchased a second air ambulance helicopter in conjunction with the opening of a second
Trauma Star air ambulance base in Key West at Lower Keys Medical Center. A three year
demonstration canal monitoring program to assess the effectiveness of water quality
improvements as part of the County's long-term canal restoration program was also completed
while work began on a new $10 million runway renovation for the Key West International
Airport.
The State of Florida mandated in 1999 that advanced wastewater treatment systems be installed
to improve water quality in the Florida Keys. In fiscal year 2017, the construction of a $7.1
million deep injection well that disposes of treated effluent 2,000 feet below the surface was
completed. In addition, the County has completed connecting most of its service areas to the
wastewater treatment plan, including the Cudjoe 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 approximated to be $200 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.
Mai or Initiatives
The County continues to make great strides in becoming a recognized leader in resilience and
sustainability efforts. As one of the areas most vulnerable to sea level rise in the entire country,
staff and advisors are hard at work preparing for the future. The County completed its
GreenKeys Sustainability Action Plan (Greenkeys.info) which provides a 5-year plan of
implementable projects that is helping the County prepare for resilience to sea level rise, reduce
carbon emissions and energy use that contribute to global warming, and allow the County to
continue to be a leader throughout the country in sustainability efforts.
More specifically, the County has:
• Completed the first level of sea level rise modeling efforts for County infrastructure such
as buildings, roads and bridges. Estimated sea level rise levels have been predicted over
the coming years, using predictions from the SE FL Climate Change Compact, and the
effects have been measured and quantified. The next phase is underway and involves an
assessment of resources needed to ensure the County's roads and facilities are prepared.
• Updated and gathered more accurate mobile LiDAR elevation data to help the County
prepare for projected sea level rise impacts on its roads and structures. This provides the
County needed information for road elevation and facility flood proofing plans. Mobile
LiDAR data will provide extremely accurate elevation data of first floors of County
facilities and a11300 miles of County roads.
• Plans to start the county -wide streets analysis project in 2018, which will take the
elevation data from the mobile LiDAR project, and use it to perform inundation modeling
to determine how much County roads are anticipated to flood over the next 25 years if
mitigation efforts are not undertaken. The engineering analysis will provide needed
information on the potential level of elevation for county roads, and also data for the
policy makers to assist in their decision making on formulating policies regarding roads
elevation projects.
• Implemented two road elevation pilot projects; one in Key Largo and the other in Big
Pine. These two neighborhoods saw up to 16 inches of water on their neighborhood roads
during the past two years of fall tidal flooding. The conceptual engineering analysis has
already been completed, which analyzed the factors involved in the potential road
elevation in each neighborhood. Now the formal design of the projects will soon be
underway in 2018, with the construction to follow in 2019, if funding is approved by the
Monroe County BOCC.
• Continued its efforts to coordinate with counterparts from Palm Beach, Broward and
Miami Dade counties as part of the South East Florida Climate Change Compact. A
Regional Climate Action Plan is being implemented that will help the region become
more resilient to sea level rise. The Compact's success has reached far and wide, and is
now considered a leading model for the nation on climate change collaboration and
preparation.
Relevant Financial Policies
The Board strives to adhere to sound financial management principles to ensure that sufficient
funds are available to maintain a stable financial base for the County. To achieve a stable
financial base, the County budgets to maintain fund balances sufficient to fund the County's cash
flow needs, to provide financial reserves for unanticipated expenditures or unexpected revenue
shortfalls, to provide funds for the disparity in timing between property tax collection, sales tax
distributions as well as other revenues and expenditures, and to secure and maintain investment
grade bond ratings.
I_Q:
In accordance with Section 218.415, Florida Statutes, the County's investment policy establishes
investment objectives, maturity and liquidation requirements, portfolio composition, risk and
diversification requirements, and authorized investments. The primary objective of investment
activity is to preserve capital and maintain sufficient liquidity to meet anticipated cash flow
needs. A secondary objective is to obtain competitive returns on the investment of the County's
surplus funds.
The County adheres to Governmental Accounting Standards Board's Statement No. 54 which
requires governmental entities to classify a fund balance into one of five categories to indicate
the constraints imposed upon these resources: non -spendable, restricted, committed, assigned
and unassigned. An unassigned fund balance is the residual classification that includes all
spendable amounts not contained within the other four classifications.
In the event that the unassigned General Fund balance is less than four months of budgeted
expenditures as dictated by the Board's policy, the County shall plan to adjust budget resources
in the subsequent fiscal years to restore the balance. Appropriation from unassigned General
Fund balance shall require Board approval and shall be only for one-time expenditures, such as
capital purchases, and not for ongoing expenditures unless a viable plan designated to sustain the
expenditures is simultaneously adopted.
The Board has the responsibility of responding to emergency disaster and has $10 million in
disaster reserve funds to ensure adequate cash flow is available in post -disaster situations. In the
event these funds fall below the set amount, an action plan to begin replenishment to the
appropriate level will be addressed in the ensuing budget 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,
2016. This was the twenty-ninth consecutive year the Monroe County 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.
In addition, Monroe County also received the GFOA's Distinguished Budget Presentation Award
for its annual appropriated budget. This was the eighteenth (18th) year that Monroe County
received this award. To qualify for the Distinguished Budget Presentation Award, the
government's budget docizrient was judged, to be proficient in several categories including policy
dovarnentation, financial plaraiing, and organization.
7 ,rhis report, is the Product of them dedication arA hard work of the Firt-ment Under tdie
direction of Monroe County's Clerk of the Circuit Cwnt & Comptroller, Kevin Madok, CPA as
Auditor and Chief Financial Officer to the Board of County Conunissioners.
We, would like to express our appreciation to the entire Finance Departnient., the Board of,
Comity, Cot-runissioners and their staff and other Constitutional Officers for their assistance in the
preparation of t1is report. This includes their dediceed suppont in planning and, conduefin. the
finmicial operations of the Qyan ty in a responsilble and progressive ma.per throughout the year.
We also extend oar thanks and, appreciation to our independent auditor, Cherry Bekaert LLP, for
its outstanding efforts, advice, arid assisuance.
'000
. .......... .... . .... .. . ... . ..
Kevin Madok, CPA
Clerk of the Circuit Coixt & Comptroller
Chief Financial Officer
"'ant Radloff, CPA
Monroe CAf
ounty
Finance Director
up
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Certificate of
Achievement
ror Excellence
in Financial
Presented to
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
Executive Director/CEO
I_0%7
MONROE COUNTY, FLORIDA
DAVID RICE, MAYOR
DISTRICT 4
DANNY KOLHAGE
DISTRICT 1
HEATHER CARRUTHERS
DISTRICT 3
ROMAN GASTESI
COUNTY ADMINISTRATOR
GEORGE NEUGENT
DISTRICT 2
SYLVIA MURPHY
DISTRICT 5
KEVIN MADOK, CPA
CLERK OF THE CIRCUIT COURT AND
COMPTROLLER
A-10
16,111
osft Cherry rt"'
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, 2017, 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, 2017,
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
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 the required supplementary
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.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated March 29, 2018, 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 29, 2018
B-2
Management's Discussion and Analysis
As Finance Department management, under the direction of Monroe County's Chief Financial Officer
and Clerk of the Circuit Courts and Comptroller, we offer readers this narrative overview and analysis of
the financial activities of Monroe County Government (County) for the fiscal year ended September 30,
2017.
We encourage readers to consider this information in conjunction with additional information furnished
in the letter of transmittal in the Introductory Section of this report and the audited basic financial
statements for an overall view of the County's activities.
Financial Highlights
• The County's total assets and deferred outflows of resources exceeded its total liabilities and
deferred inflows of resources at September 30, 2017 by $593.1 million, an increase of $4.3 million
compared to prior to fiscal year. Of this amount, $422.4 million represents net investment in
capital assets; $227.4 million is restricted for specific purposes (restricted net position); and the
remaining portion represents negative unrestricted net position of $56.7 million. Unrestricted net
position is negative primarily due to the fiscal year (FY) 2015 implementation of GASB Statement
No. 68, which requires the County to report on the face of the financial statements the deferred
inflows, deferred outflows and net pension liabilities the County's proportionate share of the
Florida Retirement System (FRS) pension plan and the Volunteer Firefighters and Emergency
Medical Services pension plan. This unfunded pension obligation will continue to negatively
impact unrestricted net position for future periods until all plans have been fully funded.
• Comparing FY 2017 with FY 2016, the results of governmental activities produced a decrease in
net position of $0.6 million, while in FY 2016 net position increased by $50.8 million. We discuss
key changes in net position later in Management's Discussion & Analysis (MD&A).
• Comparing FY 2017 with FY 2016, the results of business -type activities produced an increase in
net position of $5.0 million, while in FY 2016 net position decreased by $2.1 million. We discuss
key changes in net position later in this MD&A.
• As of September 30, 2017 and 2016, the County's governmental funds reported combined ending
fund balances of $214.5 million and $224.3 million, respectively. Of the combined fund balance,
$7.5 million or 3.5% 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 $34.8
million, a decrease of $3.4 million from the prior year. In September 2017, the County sustained
direct impact from a major hurricane which was a major factor in the decrease of $3.4 million in
the General Fund balance. The County incurred costs associated with emergency protective
measures and debris removal, a large portion which the County anticipates will be reimbursed by
both the State and Federal governments during subsequent fiscal years.
• Bonded debt and loans of the County increased $19.6 million in FY 2017. This was comprised of
$28.1 million in new debt less $8.5 million in reductions (payments). The County's percentage of
bonded debt and loans compared to net position increased from 27.5% to 30.6%. The other
components of long-term debt are discussed in further detail later in this MD&A.
C-1
Overview of the Financial Statements
This MD&A 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
Governmment-Wide Financial Statements
Goverm-nental 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.
The Statement of Activities, which follows the Statement of Net Position, presents information showing
how the net position changed during fiscal year 2017. The statement presents all underlying events,
which contribute to the change, irrespective of the timing of the related cash flows. Thus, revenues and
C-2
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. These statements appear on pages E-3 and E-6
of this report.
The governmental fund financial statements present financial information for the County's general,
special revenue, debt service and capital project funds. Governmental funds individually presented as
major funds in the County's statements include: the General Fund; three special revenue funds: Fine and
Forfeiture, High Intensity Drug Trafficking Area (HIDTA) Grants and Governmental Grants; the Debt
Service Fund; and three capital project funds: One Cent Infrastructure Surtax, Infrastructure Revenue
Bonds Series 2014, and Cudjoe 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, Card Sound
Bridge, Key West International Airport, Passenger Facility Charges (PFC) and Operations Restrictions
and the Florida Keys Marathon International 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 FY 2017 for the Florida Retirement System
(FRS) and Health Insurance Subsidy (HIS) Pension Plans, the Volunteer Firefighters and Emergency
Medical Services Length of Service Awards Program (LOSAP) Pension Plan, and the County's Other
Post -Employment Benefits (OPEB) program is summarized on pages G-1 through page G-9.
Combining and individual statements and schedules mentioned earlier, which present details of non -
major 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 (Section I) and the
Single Audit Section (Section J) of this report.
M
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, 2017 and 2016 is presented.
Monroe County Net Position (in thousands)
The following is a condensed summary of Net Position compared to the prior year.
Governmental
Business -type
Total Primary
Activities
Activities
Government
2017
2016
2017
2016
2017
2016
Current and Other Assets S
316,600 S
298,005
S 35,313 S
32,210
S 351,913
S 330,215
Capital Assets
515,085
480,382
88,919
83,423
604,004
563,805
Total Assets
831,685
778,387
124,232
115,633
955,917
894,020
Deferred Outflows
50,789
40,155
1,716
1,572
52,505
41,727
Current Liabilities
53,184
29,411
5,272
2,172
58,456
31,583
Long -Term Liabilities
341,602
304,149
7,257
6,711
348,859
310,860
Total Liabilities
394,786
333,560
12,529
8,883
407,315
342,443
Deferred Inflows
7,750
4,419
232
93
7,982
4,512
Net Position:
Net Investment in Capital
Assets
333,523
318,447
88,919
83,423
422,442
401,870
Restricted
218,357
212,145
9,040
7,750
227,397
219,895
Unrestricted
(71,942)
(50,029)
15,228
17,056
(56,714)
(32,973)
Total Net Position S
479,938 S
480,563
S 113,187 S
108,229
S 593,125
S 588,792
The largest portion of net position for 2017 and 2016 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 71.2% and 68.3% of total primary government net position
for fiscal years 2017 and 2016, 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
C-5
County also continues to construct improvements to public facilities such as Plantation Key Courthouse
and Detention Center, and the Marathon Public Library.
Total primary government net position above also includes restricted net position. Restricted net position
is resources subject to external restriction on how they may be used. In FY 2017, 38.3% of the total
primary government's net position was restricted. 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
2017 2016
S 316,600 S 298,005
S 53,184 S 29,411
5.95 10.13
Business -type
Activities
2017 2016
S 26,273 S 32,210
S 5,272 S 2,172
4.98 14.83
The schedule above demonstrates that the County continues to have adequate cash flows despite the
ratios being almost reduced by half of the prior fiscal year. The governmental activities ratio of 5.95 and
the business -type activities ratio of 4.98 reflect the County's ability to pay back its current liabilities
with available current assets. The ratio reductions were mainly due to Hurricane Irma striking the
Florida Keys in September, 2017 and the cash required to meet the public's immediate needs following
the hurricane.
Monroe County Changes in Net Position (in thousands)
The following table summarizes the changes in net position for the current and previous year.
M
Governmental
Business -type
Total Primary
Activities
Activities
Government
2017
2016
2017
2016
2017
2016
Revenues:
Charges for Services S
41,941 S
79,858
S 28,661 S
27,518
S 70,602
S 107,376
Operating Grants and Contributions
16,970
20,714
5,608
2,903
22,578
23,617
Capital Grants and Contributions
17,243
9,559
4,993
1,525
22,236
11,084
General Revenues:
Property Taxes
77,511
75,464
-
-
77,511
75,464
Other Taxes
81,635
80,434
-
-
81,635
80,434
State Revenue Sharing
3,634
3,381
-
-
3,634
3,381
Investment Income
2,651
2,281
220
133
2,871
2,414
Miscellaneous
1,527
3,276
1,830
(18)
3,357
3,258
Total Revenues
243,112
274,967
41,312
32,061
284,424
307,028
Expenses:
General Government
37,502
35,557
-
-
37,502
35,557
Public Safety
125,871
107,153
-
-
125,871
107,153
Physical Environment
5,143
11,599
-
-
5,143
11,599
Transportation
8,552
7,694
-
-
8,552
7,694
Economic Environment
36,494
35,425
-
-
36,494
35,425
Human Services
10,391
9,247
-
-
10,391
9,247
Culture and Recreation
6,025
5,471
-
-
6,025
5,471
Court Related
9,633
9,859
-
-
9,633
9,859
Interest on Long Term Debt
4,126
3,360
-
-
4,126
3,360
Solid Waste
-
-
20,124
18,147
20,124
18,147
Toll Bridge
-
-
1,463
1,528
1,463
1,528
Key West Airport
-
-
12,426
10,583
12,426
10,583
Marathon Airport
-
-
2,004
1,860
2,004
1,860
PFC Operations & Restrictions
-
-
337
873
337
873
Total Expenses
243,737
225,365
36,354
32,991
280,091
258,356
Change in Net Position before transfers
(625)
49,602
4,958
(930)
4,333
48,672
Transfers
-
1,155
-
(1,155)
-
-
Change in Net Position
(625)
50,757
4,958
(2,085)
4,333
48,672
Total Net Position -October 1
480,563
429,806
108,229
110,314
588,792
540,120
Net Position - Ending S
479,938 S
480,563
S 113,187 S
108,229
S 593,125
S 588,792
C-7
Total revenues exceeded total expenses in the current year, resulting in an increase in the County's total
net position of $4.3 million in FY 2017 compared to an increase in net position of $48.7 million during
FY 2016. The reasons for the overall increase are explained below in the governmental activities and
business type activities sections.
Governmental Activities
The change in net position for governmental activities was negative $0.6 million during FY 2017. In
contrast, the change in net position was $50.8 million in FY 2016. The drastic change was due to
completion of one of the wastewater collection and treatment systems, whereby the special assessment
associated with the project was able to recognize the related revenue of $29.2 million in FY 2016. The
County also recognized revenue of $10.7 million for the special proceeds received and reported as
unearned revenue in the prior fiscal years. This is also by far the largest reduction in the County's
revenue sources, Charges for Services, of $37.9 million, and is well over the governmental activities
total reduction of revenues in the current fiscal year.
Other highlights for governmental activity revenue and expenses are as follows:
Revenues
• Charges for Services went from $79,858 in FY 2016 to $41,941 in FY 2017. The decrease is due
to the substantial completion of the Cudjoe Regional Wastewater Project in FY 2016 which
allowed the County to recognize revenue of $29.2 million during the previously fiscal year for the
special assessment associated with this project. Also during FY 2016, the County recognized
revenue of $10.7 million for the special assessment proceeds received and reported as unearned
revenue in prior years.
• Tourist Development revenue FY 2017 totaled $41.1 million which is a slight decrease from the
previous fiscal year of $41.2 million. One reason for the lack of growth in this revenue source was
due to the extended business interruption caused by Hurricane Irma in September 2017.
• Sales Taxes (1/2 Cent Sales Tax and One Cent Infrastructure Tax) were $32.9 million in FY 2017,
which was an increase of $1 million or 3.26%.
• Operating Grants and Contributions decreased by $3.7 million or 18.08% while Capital Grants and
Contributions increased by $7.7 million or 89.39%. Grants are nonrecurring in nature and can
fluctuate from year to year.
Expenses
• Pension related expenses, resulting in the change of deferred inflow of resources, deferred outflow
of resources, and the net pension liabilities, increased by $3.3 million in FY 2017.
• Depreciation expense reported in governmental activities increased by $2.93 million in FY 2017.
This increase is attributed to the capitalization of the County's wastewater projects in the previous
year.
• Advertising, promotion, and operating expenses associated with tourism development decreased
by $.3 million in FY 2017.
M
• Public safety operational expenses (not capitalized) increased by $18.7 million or 17.5%. In FY
2017, the County expended $10.7 million for public safety grant programs compared to $.9
million in FY 2016. In addition, the County expended $3.2 million in FY 2017 for a third Trauma
Star helicopter and a second air ambulance base to serve the citizens of the County.
• Physical environment expenses (not capitalized) associated with the wastewater treatment and
other projects decreased by $6.5 million. This was primarily due to the substantial completion of
the Cudjoe Regional Wastewater project in FY 2016.
The graph below represents a comparison of program revenues to program expenses for governmental
activities for fiscal year 2017. It is apparent from these graphs that general revenues were required to
cover expenses for most of the functions noted.
140.0
120.0
100.0
80.0
125.9
Monroe County, Florida
Governmental Activities (in Millions)
For the year ended September 30, 2017
60.0
43.6
40.0
37.5
36.5
20.o
15 5
\'
10.4
9.7
y\
6 5.1
8.6
6.0
5.2
i
>:
2.8
0.3 1.8 0.9
>. Is
0.0
-
General
Public Safety
Physical
Transportation
Economic Human Services Culture &
Court Related
Government
Environment
Environment Recreation
uu Program Revenues 0 Program Expenses
The largest revenue sources for governmental activities in FY 2017 are property taxes in the amount of
$77.5 million and all other taxes totaling $81.6 million. Total taxes of $159.1 million amounted to
65.5% of the County's governmental activity revenues excluding transfers. The second largest revenue
source is charges for services at $41.9 million or 17.3% of governmental activity revenues excluding
transfers.
The 2017 graph identifies the largest expense function as public safety, amounting to $125.9 million.
This is 51.6% of the total expenses for governmental activities. The next largest function is general
government that totals $37.5 million or 15.4% of total expenses for governmental activities. The general
government expenses include the Tax Collector, Property Appraiser, Clerk of the Circuit Court and
Comptroller, and the Supervisor of Elections.
The graph on the next page represents a comparison of program revenues to program expenses for
governmental activities for fiscal year 2016.
W
Monroe County, Florida
Governmental Activities (inMillions)
For the year ended September 30, 201
120.0 107.1
100.0
Kill,
60.0
47.7
40.0
35.5
36.9
35.4
20.0
15.0���
���
�� 11.6
3.0 7.7
9.2
0.4
1.7
General
Public Safety
Physical
Transportation
Economic
Human
Government
Environment
Environment
Services
I$ Program
Revenues E
Program Expenses
0.3 5.5
5.1 9.9
Culture &
Court Related
Recreation
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 29.0% of governmental activity revenues excluding
transfers.
The FY 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 $71.0 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.
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 FY 2017 amounted to $28.7 million or 69.4% of all business -type
activities revenue sources. Other revenue source increases include $5.6 million and $5.0 million in
operating grants and capital grants respectively. Total revenues (excluding transfers from other funds)
were greater than total expenses (excluding transfers to other funds) by $5.0 million.
The increase in net position in 2017 was $5.0 million.
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 $214.5 million at the end of the
current fiscal year. This represents $9.8 million, or -4.4%, decrease from prior year. Governmental funds
held nonspendable, restricted, committed or assigned amounts totaling $206.9 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, 2017, the total fund
balance in the General Fund was $34.84 million, a decrease of $3.4 million, or 9% from the prior year.
The unassigned portion of the General Fund's fund balance was $15.5 million. Tax revenue decreased
by ($286,618) in the General Fund. Intergovernmental revenues increased by $1.8 million, or 15.1%.
Expenditures increased by $3.72 million or 4.3%.
Other Maior Fund Information (in thousands
Fine and Fofeiture HIDTA Grants Governmental Grants
2017 2016 2017 2016 2017 2016
Revenues and Other
Sources $ 58,849 $ 54,874 $ 20,093 $ 19,844 $ 8,450 $ 8,062
Expenses and Other Uses 56,547 52,457 20,093 19,844 13,528 6,977
Increase/(Decrease) in
Fund balance $ 2,302 $ 2,417 $ $ $ (5,078) $ 1,085
One Cent Infrastructure Revenue Bonds
Infrastructure Surtax Series 2014
2017 2016 2017 2016
Revenues and Other
Sources $ 21,632 $ 25,471 $ 15,125 $ 35
Expenses and Other Uses 24,549 28,830 9,437 2,079
Increase/(Decrease) in
Fund balance $ (2,917) $ (3,359) $ 5,688 $ (2,044)
Cudjoe Regional Wastewater
Activities
Debt Service
2017
2016
2017 2016
Revenues and Other
Sources
$ 27,790 $
46,879
$ 9,938 $ 22,658
Expenses and Other Uses
32,337
41,678
9,886 22,778
Increase/(Decrease) in
Fund balance
$ (4,547) $
5,201
$ 52 $ (120)
C-11
Fine and Forfeiture Special Revenue Fund. Total revenue and other sources for this fund increased by
$3.9 million as a result of an increase in ad valorem taxes and charges for services. Total operating
expenses and transfers to other funds also increased by $4.1 million, which includes the purchase of a
second Trauma Star helicopter for the County.
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 FY 2017 revenue increased in transfers from other
funds and a significant increase in public safety expenses due to the grant -related expenses incurred at
the end of the fiscal year related to the protective measures and debris removal from Hurricane Irma.
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.
Infrastructure Revenue Bonds Series 2014. In October 2014, the County issued revenue bonds to
construct and acquire equipment and capital improvements. In FY 2017, unused bond proceeds that
were originally dedicated to fund the Cudjoe Regional Wastewater project were transferred to this fund.
Cudjoe 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 FY 2016, total revenues increased by $17.9 million. Conversely, in FY 2017 total revenues decreased
by $19.1 million. The increase in FY 2016 was a result of increased activity of funding sources of
grants, loans and bonds. The reduction in expenses is due to decreased activity in the Cudjoe project.
Debt Service. The debt service fund received transfers from other funds to cover $9.9 million in
principal and interest payments on long-term debt.
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. However, the cost of operations increased from the previous fiscal year by almost $2 million.
Approximately 70% of the increase in expenses is due to $1.4 million in unexpected costs incurred at
fiscal year-end for hurricane debris removal.
Card Sound Bridge Enterprise Fund. The Bridge is an alternative route to the "Eighteen Mile Stretch."
The Card Sound Road toll bridge was temporarily closed beginning in August 2017 for at least six
months to convert from manned toll booths to an electronic tolling operation. No tolls were collected
during this reconstruction period. As a result, revenue from tolls decreased by 11.8% during FY 2017.
C-12
Key West Airport Enterprise Fund. Compared to FY 2016, revenue increased by $1 million in charges
for services while operational expenses increased by $1.9 million in FY 2017.
PFC and Operations Restrictions. This fund is used to collect passenger facility charges to be used for
capital expenditures related to the County's airports. During fiscal year ending 2017, this fund had a
$3.9 million increase to the net position.
Marathon Airport Enterprise Fund. The Florida Keys Marathon Airport added "International" to its title
with the opening of its U.S. Customs and Border Protection facility in April, 2016. It was expected that
this designation would expand both the airport's aviation traffic and its revenue -producing capabilities.
In its first full year as an international airport, the airport generated $1.5 million in revenue from charges
for services in FY 2017 which was a 50% increase from the previous fiscal year. In FY 2017, the
Marathon Airport also continued its construction of an eleven -unit aircraft storage facility using $2.7
million of capital grant funds.
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.
Of the four funds, the Worker's Compensation Fund is the only fund that did not experience an increase
in revenues. Specifically, the Group Insurance Fund increased its charges to County departments and
plan participants by 14.3% to address a projected program deficit. Likewise, the Risk Management
Program more than doubled its fiscal year revenue to cover a significant increase in 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, 2017, the County has $604 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 $40.2 million or 7.1 % 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
2017
2016
S 75,624
S 74,767
63,565
46,919
99,753
100,266
30,886
29,952
242,521
225,710
2,736
2,768
Business -tune Activities
2017
2016
S 5,648
S 5,648
8,572
975
42,031
43,445
1,464
1,131
31,204
32,224
Total
2017
2016
S 81,272
S 80,415
72,137
47,894
141,785
143,711
32,349
31,083
273,725
257,934
2,736
2,768
Total $ 515,085 $ 480,382 $ 88,919 $ 83,423 $ 604,004 $ 563,805
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 continued to be the
construction of its wastewater collection systems and solid waste disposal. During FY 2017 a
portion of these projects totaling over $14.4 million were capitalized.
• Completion of the Crawl Key Fire Academy project totaling $2.2 million.
• Completion of the repairs to the Card Sound Bridge project totaling $4.2 million.
• Work on refurbishing the Old 7 Mile Bridge with an investment of $2.7 million.
• Continued work on the design and implementation of the County's canal restoration program for
approximately $1.6 million.
Ongoing significant projects include the following: Bernstein Park, Summerland and Sugarloaf Fire
Stations, Marathon Library, FKSPCA Building, and Plantation Key Courthouse and Detention Center.
Additional information on the County's capital assets can be found in Note 7 on pages F-20 to F-21.
Long -Term Debt
At September 30, 2017, the County had long-term debt in the amount of $359.3 million. This debt is
mainly comprised of revenue bonds and notes secured by pledges of revenues. Revenue -secured debt for
governmental activities was $181.6 million. The County has no general obligation bonds.
Additions to long-term debt consisted of the following:
• Clean Water State Revolving Fund Construction Loan Agreement 2014 - $28.2 million
• Increases to accrued compensated absences - $7.4 million
• Increases in the other post -employment benefits liability - $4.6 million
• Increases in the County's proportionate share of FRS and HIS pension liability - $25.4 million
• Increases in the County's LOSAP pension liability - $32,083
Retirements of long-term debt and other reductions amounted to $27.8 million.
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-40 through F-44.
Budgetary Highlights — General Fund
There were slight variations from the original budget to the amended budget for miscellaneous revenues
and Transfers from Other Funds.
The more significant variations from the amended budget to the actual expenditures were the following:
• Clerk Commissions and Fees as well as Court Related Costs were less than anticipated.
• Tax Collector, Property Appraiser and Supervisor of Elections were under budget.
• Sheriff Law Enforcement and Corrections were also under budget.
• Public Works Facilities Maintenance was under budget in various categories.
• The General Fund hurricane budget was not needed in fiscal year 2017.
C-14
• Physical Environment, Sustainability Department 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 Board 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
process. The FY 2017 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 has been impacted by the aftermath of Hurricane Irma. There is a modest rebounding of property
values, slow gains in consumer spending and low unemployment. The impact that Hurricane Irma will
have on the County's tourism revenues, our main economic resource, was unknown at the end of FY
2017.
Total budgeted revenues/sources increased between 2016 and 2017. 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 2017 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 Renovation — Stock Island
• Summerland Key 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
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 and
Comptroller, 500 Whitehead Street, Key West, Florida 33040.
C-15
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BASIC FINANCIAL STATEMENTS
MONROE COUNTY, FLORIDA
STATEMENT OF NET POSITION
SEPTEMBER 30, 2017
Primary Government
Component Unit
Monroe County
Governmental
Business -Type
Comprehensive
Activities
Activities
Total
Plan Land Authority
ASSETS
Current Assets:
Cash and Cash Equivalents
$ 78,140,828
$ 5,875,008 $
84,015,836
$ 10,785,489
Investments
182,866,704
16,670,922
199,537,626
-
Accounts Receivable, Net
1,581,904
858,492
2,440,396
-
Assessments Receivable
31,655,592
-
31,655,592
-
Internal Balances
(923,006)
923,006
-
-
Due from Other Governmental Units
16,379,104
1,890,667
18,269,771
476,096
Advances from Other Governments
6,310,092
-
6,310,092
-
Interest Receivable
560,198
55,297
615,495
-
Inventory
28,175
-
28,175
-
Total Current Assets
316,599,591
26,273,392
342,872,983
11,261,585
Noncurrent Assets:
Restricted Cash and Cash Equivalents
-
8,873,371
8,873,371
-
Restricted Accounts Receivable
-
166,714
166,714
-
Mortgage/ Notes Receivable
8,900,716
-
8,900,716
-
Allowance for Mortgage/ Notes Receivable
(8,900,716)
-
(8,900,716)
9,151,579
Land and Other Nondepreciable Assets
139,189,308
14,219,329
153,408,637
30,073,440
Other Capital Assets, Net ofAccum Deprec
375,896,150
74,699,446
450,595,596
12,890,283
Total Noncurrent Assets
515,085,458
97,958,860
613,044,318
52,115,302
Total Assets 831,685,049 124,232,252 955,917,301 63,376,887
DEFERRED OUTFLOWS OF RESOURCES
Related to Pensions 50,788,679 1,715,920 52,504,599 136,420
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
22,664,431
4,214,571
26,879,002 -
1,207,173
555,947
1,763,120 -
10,474,115
323,048
10,797,163 11,330
3,770,948
-
3,770,948 -
3,037,760
18,573
3,056,333 -
2,554,292
80,994
2,635,286 16,731
5,039
2,345
7,384 -
195,183
67,971
263,154 -
-
8,478
8,478 -
551,530
-
551,530 -
490,397
-
490,397 -
7,233,045
-
7,233,045 -
1,000,000
-
1,000,000 -
53,183,913
5,271,927
58,455,840 28,061
(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, 2017
Noncurrent Liabilities:
Landfill Closure/Postclosure Payable
Accrued Compensated Absences Payable
Claims and Judgments Payable
Revenue Notes Payable
Revenue Bonds Payable
Mayfield Interlocal Agreement
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
-
177,812
177,812 -
10,217,167
323,969
10,541,136 50,872
-
129,632
129,632 -
119,278,812
-
119,278,812 -
39,560,000
-
39,560,000 -
14,000,000
-
14,000,000 -
775,000
-
775,000 -
39,258,092
1,920,628
41,178,720 -
118,512,865
4,705,346
123,218,211 271,714
341,601,936
7,257,387
348,859,323 322,586
394,785,849 12,529,314 407,315,163 350,647
DEFERRED INFLOWS OF RESOURCES
Related to Pensions 7,705,186
Advances from Other Governments 44,678
Total Deferred Inflows of Resources 7,749,864
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
231,977 7,937,163
- 44,678
231,977 7,981,841
333,523,204
88,918,775 422,441,979
42,474,834
- 42,474,834
69,619,083
- 69,619,083
16,087,889
7,250,817 23,338,706
33,971,046
- 33,971,046
17,340
17,340
42,963,723
-
- - 3,867,402
7,851,601
- 7,851,601 -
2,035,884
- 2,035,884 -
2,811,807
- 2,811,807 -
831,269
- 831,269 -
-
1,789,268 1,789,268 -
40,607,058
- 40,607,058 -
2,065,889
- 2,065,889 -
(71,941,549)
15,228,021 (56,713,528) 16,314,195
$ 479,938,015
$ 113,186,881 $ 593,124,896 $ 63,145,320
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, 2017
Program Revenues
Operating Capital
Charges for Grants and Grants and
Expenses Services Contributions Contributions
$ 37,502,040 $
15,500,950 $
- $
-
125,871,354
17,651,710
11,412,474
14,582,498
5,142,872
3,079,450
2,884,947
-
8,551,788
160,506
83,157
2,577,808
36,494,174
19,201
297,757
-
10,391,189
333,581
1,381,967
-
6,024,215
927,377
-
82,850
9,633,236
4,268,008
909,456
-
4,125,659
-
-
-
243,736,527
41,940,783
16,969,758
17,243,156
20,124,195
18,054,144
90,909
-
1,462,962
1,012,930
-
-
12,425,901
8,137,144
2,292,712
768,469
2,003,847
1,456,352
340,121
2,697,553
336,892
-
2,883,905
1,527,272
36,353,797
28,660,570
5,607,647
4,993,294
$ 280,090,324 $ 70,601,353 $ 22,577,405 $ 22,236,450
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
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
$ (22,001,090) $
- $ (22,001,090) $ (601,504)
(82,224,672)
- (82,224,672) -
821,525
- 821,525 -
(5,730,317)
- (5,730,317) -
(36,177,216)
- (36,177,216) -
(8,675,641)
- (8,675,641) -
(5,013,988)
- (5,013,988) -
(4,455,772)
- (4,455,772) -
(4,125,659)
- (4,125,659) -
(167,582,830)
- (167,582,830) (601,504)
- (1,979,142)
(1,979,142) -
- (450,032)
(450,032) -
- (1,227,576)
(1,227,576) -
- 2,490,179
2,490,179 -
- 4,074,285
4,074,285 -
- 2,907,714
2,907,714 -
(167,582,830) 2,907,714
(164,675,116) (601,504)
77,511,075
- 77,511,075 5,184,819
4,564,973
- 4,564,973 -
6,501,374
- 6,501,374 -
11,438,274
- 11,438,274 -
21,510,929
- 21,510,929 -
36,519,780
- 36,519,780 -
1,097,971
- 1,097,971 -
3,634,152
- 3,634,152 -
2,651,474
220,159 2,871,633 96,882
3,237,284 120,248 3,357,532 -
(1,709,842) 1,709,842 - -
166,957,444 2,050,249 169,007,693 5,281,701
(625,386) 4,957,963 4,332,577 4,680,197
480,563,401 108,228,918 588,792,319 58,465,123
$ 479,938,015 $ 113,186,881 $ 593,124,896 $ 63,145,320
D-4
MONROE COUNTY, FLORIDA
BALANCE SHEET
GOVERNMENTAL FUNDS
SEPTEMBER 30, 2017
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
$ 20,091,516 $ 2,707,383 $ 807,840 $ 3,437,848
28,484,135
14,590,656
-
116,262
231,726
972,935
14,554
11
3,864,416
602,275
464
2,388,417
663,341
342,710
2,200,910
3,525,678
-
-
-
665,021
-
-
-
(665,021)
81,489
74,313
-
4,819
28,175
-
-
-
$ 53,444,798
$ 19,290,272
$ 3,023,768
$ 9,473,035
$ 5,077,024
$ 125,561
$ 987,179
$ 5,008,121
-
-
-
59,832
6,786,400
70,606
163,991
2,567,277
5,576,807
19,120
978,623
2,600,000
1,150,659
13,224
893,915
76,152
2,251
-
-
90
5,410
-
-
-
18,598,551
228,511
3,023,708
10,311,472
-
-
-
43,928
750
-
60
2,575,500
750
-
60
2,619,428
28,175
-
-
-
-
19,061,761
-
-
5,111,583
-
-
-
14,226, 382
-
-
-
15,479,357
-
-
(3,457,865)
34,845,497
19,061,761
-
(3,457,865)
$ 53,444,798 $ 19,290,272 $ 3,023,768 $ 9,473,035
The notes to the financial statements are an integral part of these statements.
E-1
One Cent
Infrastructure
Cudjoe Regional
Nonmajor
Total
Infrastructure
Revenue Bonds
Wastewater All
Governmental
Governmental
Surtax
Series 2014
Project Debt Service
Funds
Funds
$ 2,534,140 $
9,674,318 $ 2,074,086 $
1,340,766
$ 31,277,500
$ 73,945,397
17,638,967
- 12,802,242
1,271,898
88,832,962
163,737,122
-
- -
-
48,873
1,268,099
-
- 28,421,767
-
3,233,825
31,655,592
-
4,501,517 3,535
-
2,789,953
14,150,577
1,532,790
- 1,250,000
-
6,656,167
16,171,596
-
- -
-
8,235,695
8,900,716
-
- -
-
(8,235,695)
(8,900,716)
-
- 6,310,092
-
-
6,310,092
50,819
- 20,076
4,755
260,127
496,398
-
- -
-
-
28,175
$ 21,756,716 $
14,175,835 $ 50,881,798 $
2,617,419
$ 133,099,407
$ 307,763,048
$ 663,571 $ 486,141 $ 2,742,415 $ - $ 5,430,234 $ 20,520,246
371,990 759,492 - - 15,859 1,207,173
28,605 - 2,994 - 759,718 10,379,591
- - - - 8,283,103 17,457,653
22 - - - 903,760 3,037,732
- - - - 2,698 5,039
- - - - 189,773 195,183
1,064,188 1,245,633 2,745,409 - 15,585,145 52,802,617
- - - 43,928
29,337,385 - 8,492,929 40,406,624
29,337,385 - 8,492,929 40,450,552
- - - - -
28,175
20,692,528 12,930,202 18,799,004 2,617,419 104,401,102
178,502,016
- - - - 4,094,028
9,205,611
- - - - 5,021,010
19,247,392
- - - - (4,494,807)
7,526,685
20,692,528 12,930,202 18,799,004 2,617,419 109,021,333
214,509,879
$ 21,756,716 $ 14,175,835 $ 50,881,798 $ 2,617,419 $ 133,099,407 $ 307,763,048
E-2
MONROE COUNTY, FLORIDA
RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO THE
STATEMENT OF NET POSITION
SEPTEMBER 30, 2017
Amounts reported for governmental activities in the statement of net position are different because:
Ending fund balance - governmental funds $ 214,509,879
Capital assets used in governmental activities are not financial resources
and, therefore, are not reported in the governmental funds, net of
accumulated depreciation of $157,845,236. 514,238,442
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 $ 50,262,465
Deferred inflows related to pension liabilities (7,624,411)
Total 42,638,054
Unavailable revenue related to the wastewater assessment is deferred in the 40,405,874
governmental funds but not in the government -wide financial statements.
Other liability related to a certain legal claim is not reported in governmental
funds as current financial resources are not used (see note 21). (775,000)
Long-term liabilities are not due and payable in the current period and,
therefore, are not reported in the funds.
Revenue Bonds Payable
(46,793,045)
Revenue Notes Payable
(119,769,209)
Mayfield Interlocal Loan Agreement
(15,000,000)
OPEB Liability
(38,261,571)
Net Pension Liability
(117,194,063)
Accrued Interest Payable
(551,530)
Accrued Compensated Absences
(12,582,154)
Total
(350,151,572)
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. 19,072,338
Net position of governmental activities $ 479,938,015
The notes to the financial statements are an integral part of this statement.
E-3
This page is intentionally left blank.
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2017
Fine &
HIDTA
Governmental
General
Forfeiture
Grants
Grants
REVENUES:
Taxes
$ 20,716,215
$ 46,372,637
$ -
$ -
Licenses and Permits
-
-
-
-
Intergovernmental
13,984,664
95,456
20,093,439
5,543,085
Charges for Services
4,530,938
8,982,255
-
133,900
Fines and Forfeitures
2,927
76,318
-
-
Investment Income
282,956
229,214
-
1,217
Miscellaneous
1,097,213
633
-
57,499
Total Revenues
40,614,913
55,756,513
20,093,439
5,735,701
EXPENDITURES:
Current:
General Government
27,605,205
600,000 -
-
Public Safety
45,721,048
9,899,888 20,093,439
6,488,088
Physical Environment
526,555
- -
1,328,362
Transportation
14,967
- -
3,472,986
Economic Environment
662,679
- -
233,004
Human Services
7,315,889
- -
1,745,734
Culture and Recreation
3,393,823
- -
173,267
Court Related
4,316,611
381,258 -
-
Capital Projects
-
- -
-
Debt Service
Principal -Refunded Debt
-
- -
-
Principal
-
- -
-
Interest
-
- -
-
Total Expenditures
89,556,777
10,881,146 20,093,439
13,441,441
Excess/Deficiency of Revenues
Over (Under) Expenditures (48,941,864) 44,875,367
OTHER FINANCING SOURCES (USES):
Transfers from Other Funds 52,343,911 3,091,959
Transfers to Other Funds (6,829,795) (45,665,623)
Issuance of Debt - -
Total Other Financing Sources (Uses) 45,514,116 (42,573,664)
Net Change in Fund Balances
Fund Balances -October 1
Fund Balances -September 30
(3,427,748) 2,301,703
38,273,245 16,760,058
- (7,705,740)
- 2,714,577
- (86,462)
2,628,115
- (5,077,625)
- 1,619,760
$ 34,845,497 $ 19,061,761 $ - $ (3,457,865)
The notes to the financial statements are an integral part of these statements.
E-4
One Cent
Infrastructure Cudjoe Regional
Nonmajor
Total
Infrastructure
Revenue Bonds
Wastewater
All
Governmental
Governmental
Surtax
Series 2014
Project
Debt Service
Funds
Funds
$ 21,510,929
$ -
$ -
$ -
$ 55,149,739
$ 143,749,520
-
-
1,383,709
-
5,336,231
6,719,940
-
-
-
-
8,081,852
47,798,496
-
-
-
-
14,592,798
28,239,891
-
-
-
-
4,238,850
4,318,095
120,958
125,368
873,400
47,080
862,124
2,542,317
-
-
131,480
-
707,965
1,994,790
21,631,887
125,368
2,388,589
47,080
88,969,559
235,363,049
- - - - 2,545,077
30,750,282
- - - - 35,031,886
117,234,349
- - - - 1,628,822
3,483,739
- - - - 4,516,946
8,004,899
- - - - 34,742,139
35,637,822
- - - - 936,969
9,998,592
- - - - 1,830,131
5,397,221
- - - - 3,858,187
8,556,056
12,662,645 9,437,068 17,336,072 - 1,031,024
40,466,809
- - - 8,427,373 - 8,427,373
- - - 1,457,767 - 1,457,767
12,662,645 9,437,068 17,336,072 9,885,140 86,121,181 269,414,909
8,969,242 (9,311,700) (14,947,483) (9,838,060) 2,848,378 (34,051,860)
- 15,000,000 3,119 9,890,000 9,021,647 92,065,213
(11,886,490) - (15,000,000) - (13,727,165) (93,195,535)
- - 25,397,527 - - 25,397,527
(11,886,490) 15,000,000 10,400,646 9,890,000 (4,705,518) 24,267,205
(2,917,248) 5,688,300 (4,546,837) 51,940 (1,857,140) (9,784,655)
23,609,776 7,241,902 23,345,841 2,565,479 110,878,473 224,294,534
$ 20,692,528 $ 12,930,202 $ 18,799,004 $ 2,617,419 $ 109,021,333 $ 214,509,879
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, 2017
Amounts reported for governmental activities in the statement of activities are different because:
Net change in fund balances - total governmental funds
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 $50,662,822
exceed depreciation of $14,716,016 in the current period.
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 threshold.
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.
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.
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
Change in accrued interest
Change in accrued litigation liability
Change in compensated absences
Change in original issue premium
Change in OPEB liability
Change in net pension liability and related deferred outflows and inflows
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.
The net revenues of internal service funds (funds used to charge the costs of certain
activities to individual funds) are reported with governmental activities.
Change in net position of governmental activities
$ (2,763,935)
(10,048)
(575,000)
(1,057,702)
106,091
(1,161,158)
(8,017,753)
$ (9,784,655)
37,745,173
(3,050,876)
(25,397,527)
8,427,373
(13,479,505)
5,136,161
(221,530)
$ (625,386)
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, 2017
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
FIRM Study
Lobbyist
County Administrator
Technical Services
Technology Replacement
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
Original Final
Budget Budget
Variance with
Final Budget
Positive
Actual (Negative)
$ 21,162,979 $ 21,162,979 $ 20,716,215 $ (446,764)
12,759,321
12,759,321
13,984,664
1,225,343
4,185,184
4,185,184
4,530,938
345,754
8,000
8,000
2,927
(5,073)
110,300
110,300
282,956
172,656
631,409
702,072
1,097,213
395,141
38,857,193
38,927,856
40,614,913
1,687,057
1,829,905
1,829,905
1,680,132
149,773
5,000
5,000
-
5,000
100,000
100,000
25,791
74,209
3,985,406
3,985,406
2,851,241
1,134,165
165,988
165,988
132,068
33,920
5,000
5,000
1,209
3,791
35,000
35,000
26,091
8,909
300,000
300,000
270,713
29,287
10,000
10,000
-
10,000
-
30,000
30,000
-
151,432
151,432
120,574
30,858
971,183
971,183
915,538
55,645
2,064,852
2,078,796
2,010,611
68,185
338,000
338,000
308,866
29,134
199,324
239,324
205,180
34,144
489,530
509,530
496,204
13,326
206,186
146,186
121,291
24,895
503,455
535,054
431,407
103,647
13,147
13,147
10,733
2,414
7,200,766
7,200,766
6,655,211
545,555
10,000
10,000
4,400
5,600
1,622,638
1,622,639
1,396,320
226,319
4,437,512
4,544,783
4,165,622
379,161
4,804,925
4,804,925
4,226,815
578,110
1,631,844
1,631,844
1,304,391
327,453
200,000
230,000
214,797
15,203
100,000
100,000
-
100,000
31,381,093
31,593,908
27,605,205
3,988,703
(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, 2017
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 ReMARCable Citizens
Florida Keys Children's Shelter
Wesley House
Florida Keys Area Health Education
Rural Health Network
Original Final
Budget Budget
Variance with
Final Budget
Positive
Actual (Negative)
257,877
287,877
278,825
9,052
79,323
64,324
42,171
22,153
715,402
715,402
683,727
31,675
44,965,345
44,521,468
44,250,775
270,693
582,335
582,335
429,600
152,735
39,616
39,616
35,950
3,666
46,639,898
46,211,022
45,721,048
489,974
284,641 284,641 257,694 26,947
663,691 663,692 268,861 394,831
948,332 948,333 526,555 421,778
236,947 236,948 14,967 221,981
236,947 236,948 14,967 221,981
40,000
40,000
40,000 -
520,611
521,112
480,471 40,641
149,434
148,934
142,208 6,726
710,045
710,046
662,679 47,367
47,355
47,355
47,355 -
500
500
- 500
30,000
30,000
29,967 33
190,000
190,000
142,519 47,481
90,000
90,000
90,000 -
100,000
100,000
100,000 -
140,000
140,000
140,000 -
55,000
55,000
54,998 2
55,000
55,000
55,000 -
90,000
90,000
90,000 -
190,000
190,000
190,000 -
189,000
189,000
189,000 -
169,000
169,000
169,000 -
65,000
65,000
65,000 -
62,000
62,000
62,000 -
(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, 2017
Human Services (continued):
Heron/Peacock
Kids Come First - FL Keys
FL Keys Healthy Start Coalition
Keys Area Interdenominational Resources
Star of the Sea Foundation
Independence Cay
Anchors Aweigh
Baker Act LKMC FS 394.463
Guidance Care Clinic Baker Act Transp
Guidance Care Clinic/Samuel House-FS 394.76
Guidance Care Clinic Jail In-house Program
Historic Florida Keys Foundation
Animal Shelters
Welfare Administration
Welfare Services
Health Care Respite Act
Bayshore Manor
Social Service Transportation
Burton Memorial United Methodist Church
Keys To Be Change
Voices for the Florida Keys Children
Total Human Services
Original Final
Budget Budget
Variance with
Final Budget
Positive
Actual (Negative)
47,000
47,000
47,000
-
33,000
33,000
33,000
-
40,000
40,000
37,250
2,750
30,000
30,000
30,000
-
100,000
100,000
100,000
-
30,000
30,000
30,000
-
20,000
20,000
17,819
2,181
83,334
104,167
-
104,167
145,000
145,000
140,894
4,106
690,000
690,000
690,000
-
133,284
133,284
106,594
26,690
32,450
32,450
32,450
-
1,114,969
1,114,969
1,059,357
55,612
671,069
671,069
747,011
(75,942)
1,002,500
1,002,500
972,357
30,143
46,383
46,383
6,363
40,020
890,285
890,285
854,169
36,116
967,855
967,854
906,924
60,930
10,000
10,000
9,990
10
60,000
60,000
59,691
309
15,000
15,000
10,181
4,819
7,634,984
7,655,816
7,315,889
339,927
Culture and Recreation:
Fine Arts Council
69,300
69,300
69,300
Lower Keys AARP
4,500
4,500
4,493
Middle Keys AARP
4,500
4,500
2,570
Big Pine Key AARP
4,500
4,500
3,681
Upper Keys AARP
4,500
4,500
1,608
Boys and Girls Club
110,000
110,000
110,000
Heart of the Keys Recreation
40,000
40,000
40,000
Higgs Beach Maintenance
89,733
89,733
83,660
Library Admin Support
750,392
761,392
749,846
Library Key West
817,892
806,892
777,558
Library Key West Donations
3,500
148,199
50,606
Library Marathon
385,477
385,477
367,533
Library Marathon Donations
3,000
10,702
5,625
Library Islamorada
321,987
321,987
292,464
The notes to the financial statements are an integral part of these statements.
E-9
7
1,930
819
2,892
6,073
11,546
29,334
97,593
17,944
5,077
29,523
(Continued)
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
GENERALFUND
FOR THE YEAR ENDED SEPTEMBER 30, 2017
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
Culture and Recreation (continued):
Library Islamorada Donations
500
7,024
594
6,430
Library Key Largo
462,204
462,204
452,871
9,333
Library Key Largo Donations
500
1,737
300
1,437
Library Big Pine Key
395,587
395,587
378,606
16,981
Library Big Pine Key Donations
3,000
13,545
2,508
11,037
Total Culture and Recreation
3,471,072
3,641,779
3,393,823
247,956
Court Related:
Law Library
72,160
72,160
71,667
493
Guardian Ad Litem
201,972
201,972
133,946
68,026
State Attorney
324,110
324,110
235,090
89,020
Public Defender
724,606
724,606
633,009
91,597
Sheriff Court Security
1,632,585
1,632,585
1,632,585
-
Court Administration
2,527
2,527
2,087
440
Court Admin - Judicial Support
145,040
145,040
137,276
7,764
Court Case Management
168,299
168,300
158,795
9,505
Court Admin - Circuit Ct Reporter Svcs
1,675
1,675
1,453
222
Court Admin - Circuit Drug Court
419,906
419,906
399,222
20,684
Court Admin - Pretrial Release
537,638
537,637
519,296
18,341
Ct. Admin - Pretrial Svcs Drug Diversion
181,193
181,193
171,215
9,978
Court Admin - Information Systems
233,688
233,688
220,970
12,718
Total Court Related
4,645,399
4,645,399
4,316,611
328,788
Total Expenditures 95,667,770 95,643,251 89,556,777 6,086,474
Excess/Deficiency of Revenues
Over (Under) Expenditures (56,810,577) (56,715,395) (48,941,864) 7,773,531
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
(688,352)
(446,928) -
446,928
Reserve for Cash Balance
(6,755,621)
(6,755,621) -
6,755,621
Transfers from Other Funds
52,747,294
52,410,688 52,343,911
(66,777)
Transfers to Other Funds
(1,236,437)
(12,236,437) (6,829,795)
5,406,642
Total Other Financing Sources (Uses)
44,066,884
32,971,702 45,514,116
12,542,414
Net Change in Fund Balances (12,743,693) (23,743,693) (3,427,748) 20,315,945
Fund Balances - October 1 12,743,693 23,743,693 38,273,245 14,529,552
Fund Balances - September 30 $ - $ - $ 34,845,497 $ 34,845,497
The notes to the financial statements are an integral part of these statements.
E-10
This page is intentionally left blank.
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, 2017
REVENUES:
Taxes
Intergovernmental
Charges for Services
Fines and Forfeitures
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
General Government:
Tax Increment Payment
Total General Government
Public Safety:
Sheriff Law Enforcement
Sheriff Corrections
Bond Refunds
Law Enforcement Education Assistance
Correction Facilities
Medical Air Transport
Interagency Communications
Juvenile Detention Cost Share
Hurricane
Total Public Safety
Court Related:
Sheriff Extradition
Sheriff Court Security
Total Court Related
Total Expenditures
Excess/Deficiency of Revenues
Original Final
Budget Budget
Variance with
Final Budget
Positive
Actual (Negative)
$ 48,016,897 $ 48,016,897 $ 46,372,637 $ (1,644,260)
-
-
95,456
95,456
4,996,500
8,206,677
8,982,255
775,578
88,000
88,000
76,318
(11,682)
100,000
100,000
229,214
129,214
2,500
403,536
633
(402,903)
53,203,897
56,815,110
55,756,513
(1,058,597)
600,000 600,000 600,000 -
600,000 600,000 600,000 -
728,479
3,496,163
3,187,816
308,347
3,259,387
2,911,580
2,854,158
57,422
25,000
25,000
-
25,000
75,000
75,000
75,000
-
1,974,006
1,974,006
1,730,701
243,305
566,140
2,125,729
1,896,165
229,564
40,468
40,468
18,916
21,552
373,000
137,132
137,132
-
-
4,000,000
-
4,000,000
7,041,480
14,785,078
9,899,888
4,885,190
50,000 70,000 64,822 5,178
358,583 358,583 316,436 42,147
408,583 428,583 381,258 47,325
8,050,063 15,813,661 10,881,146 4,932,515
Over (Under) Expenditures 45,153,834 41,001,449 44,875,367 3,873,918
(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, 2017
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)
(521,012) (24,612) - 24,612
(5,498,200) (5,498,200) - 5,498,200
1,400,000 3,900,000 3,091,959 (808,041)
(45,673,099) (46,173,099) (45,665,623) 507,476
(50,292,311) (47,795,911) (42,573,664) 5,222,247
(5,138,477) (6,794,462) 2,301,703 9,096,165
5,138,477 6,794,462 16,760,058 9,965,596
$ - $ - $ 19,061,761 $ 19,061,761
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, 2017
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual (Negative)
REVENUES:
Intergovernmental
$ 20,100,000
$ 20,100,000
$ 20,093,439 $ (6,561)
EXPENDITURES:
Current:
Public Safety:
Public Safety
20,100,000
20,100,000
20,093,439 6,561
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
This page is intentionally left blank.
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, 2017
REVENUES:
Intergovernmental
Charges for Services
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Public Safety:
Hurricane Irma Recovery
Emergency Management Base Grant
Federal Emergency Base Grants
Radiological Emerg Preparedness
Emergency Medical Services Award Grant
DOJ DC Medical Director Initiative
Urban Area Security Initiative Grants
Total Public Safety
Physical Environment:
Canal Restoration Project
Exotic Plant Removal
EPA Florida Keys Improve Water Quality
University of Florida Sea Grant
FWC MC Removal Vessels
FWC MC Waterway Maker
DEP Mobile Vessels
DEP Big Pine Key Canal
Total Physical Environment
Transportation:
Card Sound Bridge Repair
No Name Key Bridge #904320
Garrison Bight Bridge
Scenic Highway Overlooks
Roadway Projects
Transportation Planning Prog 2012
Pigeon Key Ferry Service
Old SR940 Leg A Bridge Repair
Pigeon Key Ferry Ramp Repair
Total Transportation
Variance with
Final Budget
Original Final
Positive
Budget Budget
Actual
(Negative)
$ - $ 16,144,918
$ 5,543,085
$ (10,601,833)
- 147,046
133,900
(13,146)
- 249
1,217
968
- -
57,499
57,499
- 16,292,213
5,735,701
(10,556,512)
- 11,372,726
6,026,737
5,345,989
- 211,612
122,040
89,572
- 95,388
47,812
47,576
- 147,046
110,351
36,695
- 53,912
29,246
24,666
- 15,028
11,100
3,928
- 192,616
140,802
51,814
- 12,088,328
6,488,088
5,600,240
- 1,500,000
39,442
1,460,558
- 170,000
168,788
1,212
- 337,169
104,928
232,241
- 29,978
29,978
-
- 320,745
140,857
179,888
- 93,705
63,033
30,672
- 1,287,350
731,336
556,014
- 50,000
50,000
-
- 3,788,947
1,328,362
2,460,585
- 3,954,305
2,394,824
1,559,481
- 2,362,130
-
2,362,130
- 21067,092
706,486
1,360,606
- 1,096,959
2,467
1,094,492
- 225,000
-
225,000
- 464,626
141,898
322,728
- 404,212
217,311
186,901
- 46,034
-
46,034
- 40,488
10,000
30,488
- 10,660,846
3,472,986
7,187,860
(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, 2017
Economic Environment:
Small Cities CDBG - 2010
Disaster Recovery CDBG
Total Economic Environment
Human Services:
Nutritional Services In Progress
GCC Male Jail In-house Program
Title III-B Supportive Services
Title III-C1 Congregate Meals
Title III-C2 Home Delivered Meals
Title III-E Caregiver Support Services
Low Income Home Energy Program
Alzheimer's Disease Initiative
Community Care Disabled Adults
Community Care for the Elderly
Home Care for the Elderly
Weatherization Assistance Program (WAP)
State Housing Initiative Partnership to WAP
LIFES AM Respite Project
Heron Assisted Living
Social Services Transportation
Total Human Services
Culture and Recreation:
State Aid to Libraries
Rowell's Marina Sc Overlook
Lower Keys Scenic VW Area
Total Culture and Recreation
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
Variance with
Final Budget
Original Final
Positive
Budget Budget
Actual (Negative)
- 353,036
233,004 120,032
- 175,822
- 175,822
- 528,858
233,004 295,854
- 112,450
74,711
37,739
- 37,000
35,065
1,935
- 149,093
140,671
8,422
- 204,909
156,951
47,958
- 326,740
217,656
109,084
- 236,033
150,206
85,827
- 266,846
165,381
101,465
- 463,152
196,443
266,709
- 95,586
33,936
61,650
- 304,945
303,281
1,664
- 8,334
7,634
700
- 114,398
101,035
13,363
- 58,181
27,789
30,392
- 8,300
-
8,300
- 39,979
39,979
-
- 262,000
94,996
167,004
- 21687,946
1,745,734
942,212
- 129,156
111,738 17,418
- 130,000
19,437 110,563
- 42,092
42,092 -
- 301,248
173,267 127,981
30,056,173 13,441,441 16,614,732
- (13,763,960) (7,705,740) 6,058,220
(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, 2017
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)
- 13,850,422
2,714,577
(11,135,845)
- (86,462)
(86,462)
-
- 13,763,960
2,628,115
(11,135,845)
- - (5,077,625) (5,077,625)
- - 1,619,760 1,619,760
$ (3,457,865) $ (3,457,865)
The notes to the financial statements are an integral part of these statements.
E-16
This page is intentionally left blank.
MONROE COUNTY, FLORIDA
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
SEPTEMBER 30, 2017
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
$ 2,412,127 $
716,147 $
2,533,097
11,083,486
4,236,359
470,706
76,244
-
714,636
2,505,363
-
685,221
38,424
-
584,799
33,604
15,880
2,203
16,149,248
4,968,386
4,990,662
1,789,268
3,844,674 832,179 2,522,068
718,314 6,927,094 56,678,876
6,352,256 7,759,273 59,200,944
22,501,504 12,727,659 64,191,606
293,001 171,987 1,136,870
3,242,650 103,797 409,973
29,394 41,044 79,375
88,275 21,727 170,671
- 117 14,216
17,455 10,763 47,806
- - 6,663
2,345 - -
53,665 - 8,000
3,433,784 177,448 736,704
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
$ - $ 213,637
$ 5,875,008
$ 4,195,431
- 880,371
16,670,922
19,129,582
- 67,612
858,492
313,805
- -
3,190,584
554,321
735,902 531,542
1,890,667
207,508
- 3,610
55,297
63,800
735,902 1,696,772
28,540,970
24,464,447
6,924,885
159,218
8,873,371 -
166,714
-
166,714 -
3,004,203
4,016,205
14,219,329 54,000
-
10,375,162
74,699,446 793,016
10,095,802
14,550,585
97,958,860 847,016
10,831,704 16,247,357 126,499,830 25,311,463
- 114,062 1,715,920 526,214
95,921 362,230 4,214,571 2,144,185
258,269 147,865 555,947 -
- 42,375 323,048 94,524
3 770 948
435,451 -
435,451
2,378
- 4,240
18,573
28
- 4,970
80,994
37,859
- 1,815
8,478
-
- -
2,345
-
- 6,306
67,971
-
789,641 569,801
5,707,378
6,049,922
E-18
MONROE COUNTY, FLORIDA
STATEMENT OF NET POSITION (CONTINUED)
PROPRIETARY FUNDS
SEPTEMBER 30, 2017
Noncurrent Liabilities:
Payable from Restricted Assets -
Landfill Closure/Post Closure Costs
Accrued Compensated Absences Payable
Claims and Judgments Payable
OPEB Liability
Net Pension Liability
Total Noncurrent Liabilities
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
Business -type Activities Enterprise Funds
Major Funds
Municipal Card Key
Service District Sound West
Waste Bridge Airport
177,812
-
-
69,818
43,052
191,221
129,632
-
-
583,646
336,137
609,586
880,557
549,001
2,964,329
1,841,465
928,190
3,765,136
5,275,249 1,105,638 4,501,840
45,080 25,930 144,036
4,562,988 7,759,273 59,200,944
1,789,268
11,121,920 4,008,805 1,481,656
$ 17,474,176 $ 11,768,078 $ 60,682,600
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
- -
177,812
-
- 19,878
323,969
151,446
- -
129,632
-
- 391,259
1,920,628
996,521
- 311,459
4,705,346
1,319,228
- 722,596
7,257,387
2,467,195
789,641 1,292,397 12,964,765 8,517,117
- 16,931 231,977 80,349
3,004,203 14,391,367 88,918,775 847,016
7,091,599 - 7,091,599 -
- - 1,789,268 -
- 159,218 159,218 -
(53,739) 501,506 17,060,148 16,393,195
$ 10,042,063 $ 15,052,091 115,019,008 $ 17,240,211
(1,832,127)
$ 113,186,881
E-20
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENSES, AND
CHANGES IN NET POSITION
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2017
Business -type Activities Enterprise Funds
Major Funds
Municipal
Card
Key
Service District
Sound
West
Waste
Bridge
Airport
Operating Revenues:
Franchise Fees
$ 539,757
$ -
$ -
Charges for Services
17,514,387
1,012,930
8,137,123
Fines and Forfeitures
-
-
21
Miscellaneous
53,495
4,282
2,680
Total Operating Revenues
18,107,639
1,017,212
8,139,824
Operating Expenses:
Personnel Services
1,354,931
845,075
3,053,037
Operations
18,622,381
324,093
6,941,180
Depreciation and Amortization
85,287
298,498
2,386,278
Asserted and Paid Claims
-
-
-
Total Operating Expenses
20,062,599
1,467,666
12,380,495
Operating Income (Loss) (1,954,960) (450,454) (4,240,671)
Nonoperating Revenues (Expenses):
Operating Grants
90,909 - 2,292,712
Grants and Donations - Other Sources
- - -
Capital Grants
- - 768,469
Investment Income
101,944 26,424 22,168
Insurance Recoveries
- - -
(Loss) on Disposition of Assets
- (75,910) (313)
Total Non -Operating
Revenues (Expenses)
192,853 (49,486) 3,083,036
Income (Loss) Before
Contributions and Transfers (1,762,107) (499,940) (1,157,635)
Transfers from Other Funds 2,504,158 - 249,036
Transfers to Other Funds (263,190) (149,693) (331,280)
Change in Net Position 478,861 (649,633) (1,239,879)
Total Net Position - October 1 16,995,315 12,417,711 61,922,479
Total Net Position -September 30 $ 17,474,176 $ 11,768,078 $ 60,682,600
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
$ - $ - $ 539,757 $ -
- 1,456,352 28,120,792 26,046,893
- - 21 -
- 144,179 204,636 104,482
- 1,600,531 28,865,206 26,151,375
- 439,143
5,692,186
2,157,204
336,892 907,424
27,131,970
4,917,825
- 646,272
3,416,335
57,577
- -
-
20,021,252
336,892 1,992,839
36,240,491
27,153,858
(336,892) (392,308)
(7,375,285)
(1,002,483)
2,883,905
352,756
5,620,282 -
-
(12,635)
(12,635) -
1,527,272
2,697,553
4,993,294 -
61,724
7,898
220,158 109,156
-
-
- 1,138,011
-
(8,165)
(84,388) -
4,472,901
3,037,407
10,736,711 1,247,167
4,136,009 2,645,099 3,361,426 244,684
- - 2,753,194 -
(249,036) (50,153) (1,043,352) (579,520)
3,886,973 2,594,946 5,071,268 (334,836)
6,155,090 12,457,145 109,947,740 17,575,047
$ 10,042,063 $ 15,052,091 115,019,008 $ 17,240,211
5,071,268
(113,305)
$ 4,957,963
E-22
MONROE COUNTY, FLORIDA
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2017
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
$ 18,000,204 $ 1,012,970 $ 7,963,372
(2,433,692) - (927,481)
(16,592,168)
(180,842)
(6,742,285)
(1,180,702)
(771,361)
(2,505,352)
(2,358)
(247,314)
2,155
45,363
1,174
2,356
(2,163,353) (185,373) (2,207,235)
90,909 - 2,292,712
2,504,158 - 249,036
(263,190) (149,693) (331,280)
2,331,877 (149,693) 2,210,468
- - 768,469
(346,267) (927,266) (1,401,061)
(346,267) (927,266) (632,592)
Investment Income
101,944
26,424
22,168
Proceeds from Sales and Maturities of Investments
8,221,379
4,722,218
602,642
Purchase of Investment Securities
(8,078,490)
(3,507,764)
(410,474)
Net Cash Provided by (Used in) Investing Activities
244,833
1,240,878
214,336
Net Increase (Decrease) in Cash and
Cash Equivalents
67,090
(21,454)
(415,023)
Cash and Cash Equivalents:
October 1
4,134,305
737,601
2,948,120
September 30
$ 4,201,395
$ 716,147
$ 2,533,097
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
$ 30,327 $
1,413,848
$ 28,420,721
$ 25,748,250
(702,581)
(311,667)
(4,375,421)
(358,995)
-
-
-
1,138,011
(56,232)
(776,001)
(24,347,528)
(4,466,352)
-
(369,456)
(4,826,871)
(1,908,939)
242,450
1,008
(4,059)
(450,031)
-
-
-
(17,950,665)
-
143,533
192,426
90,450
2,883,905 340,121 5,607,647 -
- - 2,753,194 -
(249,036) (50,153) (1,043,352) (579,520)
2,634,869 289,968 7,317,489 (579,520)
1,527,272 2,697,553 4,993,294 -
(3,004,203) (3,317,411) (8,996,208) (12,508)
(1,476,931) (619,858) (4,002,914) (12,508)
61,724 7,898 220,158 109,156
- 873,744 14,419,983 11,397,196
- (700,356) (12,697,084) (13,200,729)
61,724 181,286 1,943,057 (1,694,377)
733,626 (47,339) 316,900 (444,676)
6,191,259 420,194 14,431,479 4,640,107
$ 6,924,885 $ 372,855 $ 14,748,379 $ 4,195,431
(Continued)
E-24
MONROE COUNTY, FLORIDA
STATEMENT OF CASH FLOWS (CONTINUED)
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2017
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, Liabilities, and Deferrals:
(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
Cash Reconciliation:
Unrestricted
Restricted
Total
Business -type Activities Enterprise Funds
Major Funds
Municipal Card Key
Service District Sound West
Waste Bridge Airport
$ (1,954,960) $ (450,454) $ (4,240,671)
85,287
298,498
2,386,278
(53,940)
40
(166,788)
67,559
-
(457,280)
(2,501,251)
-
(470,201)
(8,132)
(3,108)
(345)
1,997,038
102,207
134,013
29,394
41,044
64,882
88,275
21,727
170,671
-
(246,390)
-
(2,358)
(924)
2,155
(20,672)
(19,348)
57,253
1,500
-
-
2,281
-
-
-
-
(6,963)
17,712
10,201
18,500
71,548
42,902
330,421
(11,916)
2,004
(110,442)
29,282
16,228
81,282
(208,393)
265,081
2,033,436
$ (2,163,353) $ (185,373) $ (2,207,235)
$ - $ (75,910) $ (313)
$ 2,412,127 $ 716,147 $ 2,533,097
1,789,268 - -
$ 4,201,395 $ 716,147 $ 2,533,097
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
$ (336,892) $ (392,308) $ (7,375,285) $ (1,002,483)
- 646,272 3,416,335 57,577
- - - 1,138,011
30,327
(40,860)
(231,221)
(298,643)
(702,581)
(329,057)
(1,421,359)
72,022
-
17,390
(2,954,062)
(459,586)
-
(646)
(12,231)
(14,032)
22,391
9,742
2,265,391
451,473
258,269
121,681
515,270
-
-
42,375
323,048
85,949
-
-
-
2,070,587
(193,001)
-
(439,391)
(421,204)
-
1,008
(119)
(258)
435,451
-
435,451
-
-
(1,974)
15,259
54,596
-
-
1,500
-
-
-
2,281
-
-
(1,644)
(8,607)
-
-
11,874
58,287
30,242
-
28,909
473,780
129,538
-
(23,245)
(143,599)
(109,320)
-
11,748
138,540
57,260
(149,144)
493,573
2,434,553
2,844,212
$ (486,036) $ 101,265 $ (4,940,732) $ 1,841,729
$ - $ (8,165) $ (84,388) $ -
$ - $ 213,637 $ 5,875,008 $ 4,195,431
6,924,885 159,218 8,873,371 -
$ 6,924,885 $ 372,855 $ 14,748,379 $ 4,195,431
E-26
MONROE COUNTY, FLORIDA
STATEMENT OF FIDUCIARY NET POSITION
FIDUCIARY FUNDS
SEPTEMBER 30, 2017
Agency
Funds
ASSETS
Cash and Cash Equivalents $ 8,359,832
Accounts Receivable 35,224
Total Assets $ 8,395,056
LIABILITIES
Due to Others $ 5,331,326
Due to Other Governmental Units 3,063,730
Total Liabilities $ 8,395,056
The notes to the financial statements are an integral part of these statements.
E-27
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MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following summary of the more significant accounting policies of the Monroe County, Florida (the
"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 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
(the "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, 2017
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 fostering 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. 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:
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.
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.
F-2
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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.
Cudjoe Regional Wastewater Capital Project Fund — The Cudjoe Regional Wastewater Capital
Project Fund is used to account for the revenues and expenditures for the wastewater
infrastructure for the Cudjoe Regional area of Monroe County.
Infrastructure Revenue Bonds Series 2014 — The Infrastructure Revenue Bonds Series 2014 Fund
is used to account for capital projects funded by the Infrastructure Revenue Bonds Series 2014.
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.
F-3
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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.
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.
F-4
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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.
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.
F-5
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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.
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.
F-6
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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.
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.
F-7
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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.
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.
F-8
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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.
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.
F-9
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
The County maintains a $1,000 threshold for additions to equipment with 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- 5 0
Equipment
5-10
Intangible Assets
10-15
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, 2017
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 1st of each year. No accrual for the property tax levy becoming due in November of 2017 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, 2017
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 million in
the General Fund's disaster reserve funds to ensure adequate cash flow is available in post -disaster
situations. On September 10, 2017, the County experienced a damaging hurricane; $4,888,417 of the
$10 million committed fund balance for hurricanes was spent on hurricane recovery prior to September
30, 2017.
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 — The County reported two funds with deficits at September 30, 2017: ($3,457,865) in the
Governmental Grant Fund and ($4,494,807) in the Sheriff's Grant Fund. On September 10, 2017, the
County experienced a damaging hurricane. The hurricane's recovery effort resulted in the reported fund
deficits because the County did not receive reimbursement for state and federal disaster aid within 60
days after September 30, 2017.
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 $9,040,085 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, 2017
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, 2017, the carrying value of the County's deposits and investments, with their
respective credit ratings, are as follows:
Credit
Valuation Measurement
Less than 6
6 Months to 1
Investment Type
Rating
Method
Fair Value
Months
Year
1 to 3 Years
Demand and Time Deposits
N/A
N/A
S 92,889,207
S 92,889,207
S
$
Local Godt Surplus Fund
Unrated
Amortized Cost
158,222
158,222
Equity Securities
N/A
Fair Value - Level 1
12,932
12,932
Municipal Bonds
AA- to AAA
Fair Value - Level
4,616,501
292,062
200,430
4,124,009
US Treasury Notes
AA+
Fair Value - Level
120,112,839
29,279,255
31,675,753
59,157,831
Federal Agency Bond /Note
AA+
Fair Value - Level
74,637,132
7,993,788
12,460,503
54,182,841
Total Fair Value
S 292,426,833 S 130,625,466 S 44,336,686 S 117,464,681
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, as it meets the criteria for a qualifying pool in GASB 79. 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, 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
F-13
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 2 — CASH, CASH EQUIVALENTS, AND INVESTMENTS (continued)
Standard & Poor's (S&P) or other nationally recognized rating agency. All credit ratings indicated in the
previous table are S&P ratings.
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 Type
Florida Local Government Surplus Funds Trust Fund
United States Government Securities
United States Government Agencies
Federal Instrumentalities Maximum in Callable Securities
Interest -bearing Time Deposit or Savings AccourAs
Money Market Mutual Funds
Intergovernmental Investment Pool
Portfolio Maximum Maximum in Any One Issuer
100%
N/A
100%
N/A
50%
10%
80%
30%, with a maximum of 25% in callable securities
10%
10%
20%
10%
10%
N/A
At September 30, 2017, 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) 11.45%
Federal National Mortgage Association (FNMA) 16.37%
Federal Home Loan Mortgage Corporation (FHLMC) 10.51 %
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, 2017, all of the
County's investments are held in a bank's trust department in the County's name.
F-14
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 2 — CASH, CASH EQUIVALENTS, AND INVESTMENTS (continued)
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.
Restricted Cash and Cash Equivalents — The County has the following unrestricted and restricted cash
and cash equivalents at September 30, 2017:
Unrestricted Cash and Cash Equivalents:
Local
Government
Surplus Trust
Fund
Demand Deposits
Total
Governmental Activities:
Governmental Funds $ - $ 73,945,397 $ 73,945,397
Internal Service Funds - 4,195,431 4,195,431
Business -Type Activities 7,229 5,867,779 5,875,008
Total Unrestricted Cash and Cash Equivalents
Restricted Cash and Cash Equivalents:
Business -Type Activities
Total Cash and Cash Equivalents
7,229 84,008,607 84,015,836
- 8,873,371 8,873,371
$ 7,229 $ 92,881,978 $ 92,889,207
In the Sheriff's 911 Wireless Fund, cash in the amount of $1,341,970 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, 2017, the fiduciary funds had cash balances totaling $8,359,832 in demand
deposits.
F-15
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
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, 2017 are as follows:
Cash and Cash Accounts
Equivalents Receivable Total
Municipal District Waste
Landfill Closure Escrow $ 1,789,268 $ - $ 1,789,268
PFC Operations and Restrictions
Passenger Facility Charge 6,924,885 166,714 7,091,599
Marathon Airport
Customs Service Operations 159,218 - 159,218
$ 8,873,371 $ 166,714 $ 9,040,085
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:
F-16
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 4 — ACCOUNTS RECEIVABLE (continued)
Governmental Activities:
General Fund
Fine and Forfeiture Fund
FHDTA Grants
Governmental Grants
Nonmajor Funds:
Fire and Amb Dist 1 Fund
Other Nonmajor Funds
Internal Service Funds
Total Governmental Activities
Business -Type Activities:
MSD - Waste Fund:
Card Sound Bridge
Key West Airport
Marathon Airport
Total Business -Type Activities
Total Accounts Receivable
Accounts
Service Provided Receivable
Allowance for
Uncollectible Accounts
Accounts Receivable, Net
Misc
$ 231,726
$ -
$ 231,726
Air Amb Svc
17,636,022
16,663,087
972,935
Misc
14,554
-
14,554
Misc
11
-
11
Ground Amb Svc
2,098,604
2,083,333
15,271
Misc
33,602
-
33,602
Misc
313,805
-
313,805
20,328,324
18,746,420
1,581,904
Tipping Fees
75,318
8,053
67,265
Waste Assessments
8,139
7,326
813
Solid Waste
8,166
-
8,166
Misc
-
-
-
Rent, Misc
714,636
-
714,636
Misc
67,612
-
67,612
873,871
15,379
858,492
$ 21,202,195 $ 18,761,799 $ 2,440,396
The Board of County Commissioners voted to approve air and ground ambulance billing write-offs of
$944,260 and $695,318, respectively, for fiscal year 2017.
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.
F-17
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 6 — MORTGAGES RECEIVABLE
Mortgages receivable at September 30, 2017 consist of the following:
Major 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. $ 665,021
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. 29,801
F-18
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
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. 7,333,902
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. 492,674
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. 73,785
Florida Homebuyer Opportunity Tax Credit (FHOP), Second Mortgages
Receivable from individuals, collateralized by personal residences. Interest 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. 289,533
Total Nonmajor Governmental Funds -Local Housing Assistance 8,235,695
Total Mortgages Receivable $ 8,900,716
The mortgages receivable associated with the governmental grants are offset by an allowance for
uncollectible accounts of $665,021. As the mortgages receivable associated with the Local Housing
Assistance Fund are intended to ultimately be forgiven, an allowance for uncollectible accounts of
$8,235,695 has been established.
F-19
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
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, 2017 is as follows:
Governmental Activitiies
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
Endmg Balances
$ 74,767,415
$ 857,028
$ -
$ 75,624,443
46,919,460
42,915,015
(26,269,610)
63,564,865
121,686,875
43,772,043
(26,269,610)
139,189,308
162,904,065
2,755,900
-
165,659,965
79,117,762
6,903,290
(4,233,296)
81,787,756
262,679,693
23,097,369
(1,090,862)
284,686,200
3,150,000
-
-
3,150,000
507,851,520
32,756,559
(5,324,158)
535,283,921
(62,639,223)
(3,267,348)
-
(65,906,571)
(49,166,195)
(5,713,935)
3,978,195
(50,901,935)
(36,969,402)
(5,760,495)
564,266
(42,165,631)
(381,816)
(31,818)
-
(413,634)
(149,156,636)
$(14,773,596)
$ 4,542,461
(159,387,771)
358,694,884
375,896,150
$ 480,381,759
$ 515,085,458
F-20
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 7 — CAPITAL ASSETS (continued)
Beoming Balances
Additions
Reductions
Ending Balances
Business -Type Activities:
Capital assets not depreciated:
Land
$ 5,647,606
$ -
$ -
$ 5,647,606
Construction in progress
975,304
8,573,929
(977,510)
8,571,723
Total capital assets not depreciated
6,622,910
8,573,929
(977,510)
14,219,329
Capital assets depreciated:
Land improvements
212,925
-
-
212,925
Buildings
58,769,003
80,368
-
58,849,371
Equipment
4,881,261
676,450
(363,414)
5,194,297
Infrastructure
55,794,356
642,971
-
56,437,327
Total capital assets depreciated
119,657,545
1,399,789
(363,414)
120,693,920
Less accumulated depreciation for:
Land improvements
(212,925)
-
-
(212,925)
Buildings
(15,323,336)
(1,494,544)
-
(16,817,880)
Equipment
(3,750,462)
(259,284)
279,026
(3,730,720)
Infrastructure
(23,570,442)
(1,662,507)
-
(25,232,949)
Total accumulated depreciation
(42,857,165)
$ (3,416,335)
$ 279,026
(45,994,474)
Total capital assets depreciated, net
76,800,380
74,699,446
Business -type activities, capital assets, net
$ 83,423,290
$ 88,918,775
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
$ 1,959,264
Municipal Service District - Waste
$ 85,287
Public Safety
5,593,274
Card Sound Bridge
298,498
Physical Environment
4,244,378
Key West Airport
2,386,278
Transportation
885,283
Marathon Airport
646,272
Economic Environment
793,870
Hunan Services
204,434
Total Business -Type Activities
$ 3,416,335
Culture and Recreation
386,588
Court Related
677,163
Total Governmental Activities $ 14,744,254
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-21
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
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, 2017,
there were no terminated employees entitled to deferred benefits. The membership of the County's
medical plan consisted of:
Active Employees 1,222
Retirees and Beneficiaries Currently Receiving Benefits 425
Total Membership
F-22
1,647
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
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 12, 2017, as of October 1, 2016, 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
mirrored those used for the various Florida Retirement System pension funds. The actuarial assumptions
include an annual health care cost trend rate of 7.0% 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, 2016 (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
Interest on Net OPEB Obligation
Adjustment to Annual Required Contribution
Annual OPEB Cost
Less Contributions Made
Increase in Net OPEB Obligation
Net OPEB Obligation, Beginning of Year
Net OPEB Obligation, End of Year
F-23
$ 4,637,000
1,597,000
(1,426,000)
4,808,000
(3,558,313)
1,249,687
39,929,033
$ 41,178,720
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
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 2017 and the two preceding years were as follows (amounts expressed in
thousands):
3 Year Trend Information
Fiscal
Annual
Percentage
Net
Year
OPEB
Annual Cost
OPEB
Ended
Cost
Contributed
Obligation
9/30/2015
$ 6,700
55.5%
$ 38,100
9/30/2016
5,647
67.6%
39,929
9/30/2017
4,637
76.1%
41,079
The net OPEB obligation at the end of the year is $39,258,092 for governmental activities and
$1,920,628 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, 2017, funded status and funding progress is as
follows (amounts expressed in thousands):
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-24
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
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_ operations/retirement/publications.
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.
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
F-25
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
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.
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, 2016 through June 30, 2017 and
from July 1, 2017 through September 30, 2017, respectively, were as follows: Regular7.52% and
7.92%; Special Risk Administrative Support28.06% and 34.63%; Special Risk22.57% and 23.27%;
Senior Management Service21.77% and 22.71%; Elected Officers42.47% and 45.50%; and DROP
participants12.99% and 13.26%. These employer contribution rates include 1.66% and 1.66% HIS
Plan subsidy for the periods October 1, 2016 through June 30, 2017 and from July 1, 2017 through
September 30, 2017, respectively.
The County's contributions, including employee contributions, to the Pension Plan totaled $8,327,161
for the fiscal year ended September 30, 2017.
F-26
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions — At September 30, 2017, the County reported a liability of $97,033,380
for its proportionate share of the Pension Plan's net pension liability. The net pension liability was
measured as of June 30, 2017, and the total pension liability used to calculate the net pension liability
was determined by an actuarial valuation as of July 1, 2017. The County's proportionate share of the
net pension liability was based on the County's FY 2017 contributions relative to the FY 2017
contributions of all participating members. At June 30, 2017, the County's proportionate share
was 0.3280%, which was an increase of 0.0116% from its proportionate share measured as of June
30, 2016.
For the fiscal year ended September 30, 2017, the County recognized pension expense of $16,181,501.
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
$ 8,905,330 $ 537,515
32,610,057 -
- 2,404,730
3,909,519 2,303,322
2,222,319 -
Total $ 47,647,225 $ 5,245,567
The deferred outflows of resources related to the Pension Plan, totaling $2,222,319, 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:
F-27
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
Year ended June 30
2018
2019
2020
2021
2022
Thereafter
FRS
Amount
$ 5,244,432
13,939,326
9,746,391
1,991,418
6,735,393
2,522,379
Total $ 40,179,339
Actuarial Assumptions — The total pension liability in the June 30, 2017 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 7.10%, 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, 2017, 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 7.60% to 7.10%, 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-28
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
Asset Class
Target
Allocation(l)
Compound
Annual Annual
Arithmetic (Geometric)
Return Return
Standard
Deviation
Cash
1%
3.0%
3.0%
1.8%
Fixed Income
18%
4.5%
4.4%
4.2%
Global Equity
53%
7.8%
6.6%
17.0%
Real Estate (Property)
10%
6.6%
5.9%
12.8%
Private Equity
6%
11.5%
7.8%
30.0%
Strategic Investments
12%
6.1 %
5.6%
9.7%
Total
100%
Assumed Inflation - Mean
2.6%
1.9%
(1) As outlined in the Pension Plan's investment policy
Discount Rate — The discount rate used to measure the total pension liability was 7.10%. 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 Liability to Chanizes in the Discount
Rate — The following represents the County's proportionate share of the net pension liability calculated
using the discount rate of 7.10%, 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 (6.10%)
or one percentage point higher (8.10%) than the current rate:
FRS Net Pension Liability
Current Discount
1 % Decrease Rate 1 % Increase
(6.10%) (7.10%) (8.10%)
County's proportionate share
of the net pension liability $ 175,624,572 $ 97,033,380 $ 31,784,699
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.
F-29
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
PUables to the Pension Plan — At September 30, 2017, the County reported no amounts payable for
outstanding contributions to the Pension Plan.
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, 2017, 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, 2017, the HIS contribution for the period
October 1, 2016 through June 30, 2017 and from July 1, 2017 through September 30, 2017 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 $1,2423,564 for the fiscal year ended September 30,
2017.
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions — At September 30, 2017, the County reported a liability of $25,306,688
for its proportionate share of the HIS Plan's net pension liability. The net pension liability was measured
as of June 30, 2017, and the total pension liability used to calculate the net pension liability was
determined by an actuarial valuation as of July 1, 2017. The County's proportionate share of the net
pension liability was based on the County's F Y 2 017 contributions relative to the FY 2017
contributions of all participating members. At June 30, 2017, the County's proportionate share
was 0.2366% which was an increase of 0.0086% from its proportionate share measured as of June
30, 2016.
F-30
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
For the fiscal year ended September 30, 2017, the County recognized pension expense of $1,243,564. 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
3,557,250
14,034
•I• :1
316,310
$ 4,857,374 $
52,693
2,188,296
450,181
2,691,170
The deferred outflows of resources related to the HIS Plan, totaling $316,310, 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
2018
2019
2020
2021
2022
Thereafter
Total
F-31
HIS
Amount
$ 576,687
572,994
571,221
428,252
168,884
(468,144)
$ 1,849,894
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
Actuarial Assumptions — The total pension liability in the July 1, 2017, 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 3.58%
Mortality rates were based on the Generational RP-2000 with Projection Scale BB tables.
The municipal rate used to determine total pension liability was increased from 2.85% to 3.58%.
The actuarial assumptions used in the July 1, 2017, 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 3.58%. 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 Chanizes in the Discount
Rate — The following represents the County's proportionate share of the net pension liability calculated
using the discount rate of 3.58%, 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 (2.58%)
or one percentage point higher (4.58%) than the current rate:
HIS Net Pension Liability
Current Discount
1 % Decrease Rate 1 % Increase
(2.58%) (3.58%) (4.58%)
County's proportionate share
of the net pension liability $ 28,878,282 $ 25,306,688 $ 22,331,747
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, 2017, the County reported no amounts payable for
outstanding contributions to the HIS Plan.
F-32
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
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, 2016 through June 30, 2017 and from July 1, 2017 through
September 30, 2017, respectively. Allocations to the investment members' accounts during F Y
2 0 17 , 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, 2017, 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
F-33
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
Pension Plan, or remain in the Investment Plan and rely upon that account balance for retirement
income.
The County's Investment Plan pension expense totaled $1,289,952 for the fiscal year ended September
30, 2017.
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 45 participants, of which 17 are active, 14 are
inactive and 14 are retired members for the plan year ended December 31, 2017 and the County's fiscal
year ending September 30, 2017. Separate, stand-alone financial statements for LOSAP are not
provided.
F-34
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY
MEDICAL SERVICES (continued)
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.
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, 2017, 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, 2017 valuation for the period of January 1, 2016 through December 31, 2016
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-35
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
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 January 1, 2016 $ 917,368
Changes for the year:
Service cost 22,937
Interest 9,146
Differences between expected and actual experience (39,039)
Benefit payments, including refunds of employee contributions (32,265)
Net changes (39,221)
Balance at December 31, 2016 $ 878,147
Sensitivity of the Net Pension Liability to Changes in the Discount Rate — The following chart presents
the net pension liability 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-36
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
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 $ 952,344 $ 878,147 $ 787,476
Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related
to Pensions
For the year ended September 30, 2017, the County recognized pension expense of $32,265. At
September 30, 2017, 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 $ - $ 426
Total
F-37
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 11 — CAPITAL AND OTHER SIGNIFICANT COMMITMENTS
Construction projects and significant commitments, excluding encumbrances reported below, under
present contractual agreements as of September 30, 2017 are as follows:
Cudjoe Regional Wastewater
$ 10,523,598
Key West International Airport Apron
7,113,539
Stock Island Road and Drain Projects
4,641,043
Key Largo Road and Drain Projects
2,212,908
Canal -Related Projects
2,151,072
Key West International Airport Drainage Projects
1,975,948
Card Sound TollFacility
1,624,761
Garrison Bight Bridge
1,052,756
Transfer Stations
821,489
Key West International Airport Customs
751,644
Plantation Key Courthouse & Detention Center
671,900
Long Key Wastewater Project
631,479
Department of Juvenile Justice
397,404
Bernstein Park
296,593
Key West Library
230,000
Monroe County Detention Center HVAC
183,589
Jackson Square Chiller
173,541
Marathon Library
157,116
Monroe County Sheriff Fence
156,852
Sugarloaf Bridge
131,645
Rowell's Waterfront Park
127,507
Traffic Monitoring
107,070
Others (less than $100,000)
766,136
Total $ 36,899,590
The entire construction costs of the Cudjoe Regional Wastewater project are estimated at $200 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, the issuance of revenue notes
backed by the pledge of the infrastructure sales surtax, State of Florida clean water revolving loan and
wastewater special assessments to provide funding to FKAA for the administration, planning and
construction of wastewater projects.
F-38
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 11 — CAPITAL AND OTHER SIGNIFICANT COMMITMENTS (continued)
Significant encumbrance commitments at September 30, 2017 are as follows:
Governmental Activities:
General Fund
Road & Bridge Fund
Governmental Grants Fund
One Cent Infrastructure Surtax
Series 2014 Revenue Bonds
Nonmajor Governmental Funds
Total Governmental Activities
Business -Type Activities:
Card Sound Bridge
Key West Airport
Marathon Airport
Passenger Facility Charge
Total Business -Type Activities
Total Encumbrances
NOTE 12 — LEASE OBLIGATIONS
FnrnmbranrP
$ 338,014
2,572,461
2,006,366
717,880
159,207
232,197
6,026,125
1,436,636
1,546,529
1,250,919
9,590,278
13,824,362
$ 19,850,487
The County leases office space and equipment under operating lease agreements. Total lease payments
made in the year ended September 30, 2017 were $6,788,390. The following is a schedule by years of
future minimum rentals under non -cancelable operating leases for the fiscal year ended September 30:
County Lease
Commitments
2018
$ 5,299,432
2019
5,080,843
2020
4,660,568
2021
4,353,977
2022
3,409,617
2023-2027
8,521,300
Total $ 31,325,737
F-39
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 13 — LONG-TERM DEBT
Long-term debt activity for the year ended September 30, 2017 is as follows:
Current Portion
of Long-term
Begilming Balances Additions Payments Ending Balances Liabilities
Governmental Activities:
Revenue Bonds Payable $
53,849,136
$ -
$ 7,056,091
$ 46,793,045
$ 7,233,045
Revenue Notes Payable*
92,085,120
28,161,462
477,373
119,769,209
490,397
Mayfield Agreement (KLWTD)
16,000,000
-
1,000,000
15,000,000
1,000,000
Accrued Comp. Absences
11,659,160
7,118,026
6,005,727
12,771,459
2,554,292
OPEB Liability
38,066,692
4,475,743
3,284,343
39,258,092
-
Pension Liability - FRS
102,236,435
24,605,727
9,207,441
117,634,718
-
PensionLiability - LOSAP
917,368
32,083
71,304
878,147
-
Total GovernnlentalActl lies
314,813,911
64,393,041
27,102,279
352,104,670
11,277,734
Business -type Activities:
Landfill Closure Costs
175,531
2,281
-
177,812
-
Accrued Comp. Absences
389,704
294,997
279,738
404,963
80,994
OPEB Liability
1,862,341
171,000
112,713
1,920,628
-
Pension Liability - FRS
4,231,566
806,439
332,659
4,705,346
-
Total Business -type Acti itiies
6,659,142
1,274,717
725,110
7,208,749
80,994
Total Long -Tenn Debt $
321,473,053
$ 65,667,758
$ 27,827,388
$ 359,313,419
$ 11,358,728
*Additions include 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).
F-40
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 13 — LONG-TERM DEBT (continued)
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.
The following summary reflects the County's bonds and notes as of September 30, 2017:
Governmental Activities
Revenue Bonds:
Infrastructure Sales Surtax Revenue Bonds, Series 2007 $ 3,445,000
Infrastructure Sales Surtax Revenue Bonds, Series 2014 27,330,000
Infrastructure Sales Surtax Refunding Revenue Bond, Series 2016 15,965,000
Unamortized Original Issue Premium, Series 2007 53,045
Total Revenue Bonds 46,793,045
Revenue Notes:
Clean Water State Revolving Fund Construction Loan Agreement 2010
Clean Water State Revolving Fund Construction Loan Agreement 2014
Total Revenue Notes
Mayfield Agreement - Key Largo Wastewater Treatment District
Total Governmental Debt
F-41
7,189,708
112,579,501
119,769,209
15,000,000
$181,562,254
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 13 — LONG-TERM DEBT (continued)
Debt Service Funding Requirements — The total annual debt service requirements for bonds and notes
outstanding at September 30, 2017 are as follows:
Governmental Activities
Principal
Interest
Total
2018
$ 8,723,442
$ 1,278,587 $
10,002,029
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
7,436,147
581,495
8,017,642
2023-2027
29,602,546
1,187,928
30,790,474
2028-2032
1,637,677
33,585
1,671,262
Total Required Debt Service
68,982,753 $ 5,747,349 $ 74,730,102
2014 Clean Water State Revolving Fund
Construction Loan Agreement* 112,579,501
Total Governmental Debt $ 181,562,254
*2014 CWSRF notes are still in the draw down process. Debt service is required to begin June 15, 2019.
Long-term debt at September 30, 2017 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: $3,445,000
• 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 $3,617,250. For the
fiscal year, principal and interest paid was $3,632,000 and total pledged revenue was
$21,510,929.
• Purpose: To construct and acquire equipment and capital improvements.
• Call provisions: None
F-42
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 13 — LONG-TERM 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: $27,330,000
• 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 $29,970,132. For the
fiscal year, principal and interest paid was $4,283,886 and total pledged revenue was
$21,510,929.
• 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: $7,189,708
• 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 $8,524,228. For the fiscal year, principal and interest paid was $681,938 and total
pledged revenue was $36,721,002.
• 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, 2017, loan draws of $25,397,527 were received and
accumulated interest of $2,763,935 capitalized resulting in an outstanding loan balance as of
September 30, 2017 of $112,579,501.
• Interest rate: various interest rates (2.35% - 3.07%) as of September 30, 2017
• Final maturity and payment: Details to be determined upon completion of draw process.
F-43
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 13 — LONG-TERM DEBT (continued)
• Reserve requirement: None
• 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
$22,894,638.
• Purpose: Financing for wastewater capital improvements.
• Call provisions: None
$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: $15,965,000
• 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 $17,755,682. For the
fiscal year, principal and interest paid was $237,258 and total pledged revenue was $21,510,929.
• Purpose: To construct and acquire equipment and capital improvements.
• Call provisions: None
$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: $15,000,000
• Reserve requirement: None
• Revenue pledged: One -Cent Local Government Infrastructure Sales Surtax. The total principal
remaining to be paid is $15,000,000. For the fiscal year, principal paid was $1,000,000 total
pledged revenue was $21,510,929.
• Purpose: Capital improvements with respect to Cudjoe Regional Wastewater Project
• Call provisions: None
• See Note 14 for additional information related to this agreement.
F-44
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 14 — INTERLOCAL AGREEMENT EXPENSE
Administered by the Florida Department of Environmental Protection (FDEP), 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
"interlocal agreement" (ILA) whereby KLWTD "assigned" its Mayfield grant allocation funding to the
County in exchange for the County repaying those funds over a 10-year period.
As a result of the signed ILA in 2015 between the County and KLWTD, FDEP sent the County an
amendment to the Mayfield Grant in FY 2014-15 to add the $17 million reallocated funds to the grant
agreement between FDEP and the County. The amendment: (1) provided the County an additional $17
million in Mayfield grant funding; (2) reallocated the project budget and; (3) extended the date of the
completion of the project.
Similarly, during the 2016 legislative session, the Florida Legislature appropriated $5 million for water
quality projects under the Florida Keys Stewardship Act. Of the $5 million, $1.25 million was awarded
to the KLWTD and they subsequently voted to have the County use its 2016 allotment. In turn, FDEP
sent Monroe County an amendment to the Mayfield Grant in FY 2016-17 to add the $1.25 million
reallocated fund to the grant agreement between FDEP and Monroe County. The County entered into the
grant agreement with FDEP in FY 2016-17 and received the $1.25 million in FY 2017-18.
The ILA created transactions with two separate parts 1) a grant between FDEP and the County and 2) a
long-term liability payable to KLWTD from the County. For part one, the County recorded grant
revenue, which was a reimbursement for capital expenditures already incurred in the Cudjoe Regional
Wastewater 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 the
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.
F-45
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 15 — CONDUIT DEBT (continued)
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.
Recognition of the liability for closure and post closure costs is based on the landfill capacity used to
date. The landfill capacity of the County's previously operated landfills, which include 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. During the prior year, the County
requested and FDEP agreed to early release of all long term care requirements for the Key Largo and
Long Key landfills. The County also has a landfill site at Cudjoe Key, which has never been used nor
does the County presently intend to use.
Accordingly, no future closure cost is accruable except for post closure costs estimated to be incurred in
the coming year for Cudjoe Key. At September 30, 2017, the estimated future cost for post closure
maintenance was $177,812.
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 FDEP 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.
F-46
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 16 — RECOGNITION OF CLOSURE AND POST -CLOSURE COST (continued)
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 $13,528
and investment earnings of $9,433 were added to the escrow account. In accordance with laws and
regulations, the landfill had cash and investments of $1,789,268 held for these purposes at September
30, 2017. 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.
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,
2017 were as follows:
F-47
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 17 — INTERFUND BALANCES (continued)
Receivable Fund
General Fund
Fine and Forfeiture
MDTA Grants
Governmental Grants
Infrastructure Revenue Bonds
Series 2014
Cudjoe Regional Wastewater Project
Municipal Service District Waste
Key West Airport
Internal Service Funds
Nonmajor Governmental
Payable Fund
Fine and Forfeiture
Internal Service Funds
Nonmajor Governmental
Nonmajor Governmental
General Fund
General Fund
Governmental Grants
Nonmajor Governmental
General Fund
General Fund
PFC Operations & Restrictions
Nonmajor Governmental
General Fund
MDTA
Nonmajor Governmental
General Fund
MDTA
Nonmajor Governmental
F-48
Amount
19,120
2,378
3,842,918
602,275
i of
2,388,417
2,600,000
1,901,517
3,535
2,505,363
435,451
249,770
208,311
199,945
146,065
470,717
778,678
1,540,558
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 18 — INTERFUND TRANSFERS
Interfund transfers at September 30, 2017 are as follows:
Transfers to General Fund from:
One Cent Infrastructure Surtax Fund
$ 178,428
Fine & Forfeiture Fund
38,112,412
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
12,679,235
Total
52,343,911
Transfers to Fine & Forfeiture Fund from:
General Fund
591,959
One Cent Infrastructure Surtax Fund
2,500,000
3,091,959
Transfers to Governmental Grants Fund from:
General Fund
2,549,596
Fine & Forfeiture Fund
9,191
Nonmajor Governmental Funds
155,790
Total
2,714,577
Transfers to 2014 Revenue Bonds Fund from:
Cudjoe Regional Wastewater Project
15,000,000
Total
15,000,000
Transfers to Cudjoe Regional Wastewater Project Fund from:
General Fund
3,119
3,119
Transfers to Debt Service Fund from:
One Cent Infrastructure Surtax Fund
9,208,062
Big Coppitt Wastewater Project Fund
681,938
Total
9,890,000
Transfers to Nonmajor Governmental Funds from:
General Fund 8,811,445
Nonmajor Governmental Funds 210,202
Total 9,021,647
Transfers to Municipal Service District Waste Fund from:
General Fund 2,504,158
Transfers to Key West Airport Fund from:
PFC Operations and Restrictions 249,036
Total Interfund Transfers $ 94,818,407
F-49
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 18 — INTERFUND TRANSFERS (continued)
The General Fund transferred $4,888,417 of the County's $10 million committed fund balance for
disaster recovery to other funds for debris removal and other hurricane recovery -related expenses:
$2,388,417 was transferred to the Governmental Grants Fund and $2,500,000 was transferred to the
Municipal Services District Waste Fund.
The One Cent Infrastructure Surtax Fund, a major fund, transferred $9,208,062 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 a third Trauma Star helicopter.
The Cudjoe Regional Wastewater Project transferred $15,000,000 of the Revenue Bonds Series 2014
Fund to finance various capital projects.
Transfers to the Government Grants Fund of $249,732 represent funds needed to meet match
requirements including $109,264 transferred from the Boating Improvement Fund to meet match
requirements for the County's derelict vessel removal grant.
The Passenger Facilities Charges (PFC) Fund transferred PFC receipts to the Key West International
Airport in the amount of $119,565 to fund approved projects by the Federal Aviation Administration
(FAA). Among the FAA -approved projects were wetland mitigation monitoring, design and installation
of piped interconnections for runways and taxiways for improved drainage, design of new storm water
drainage wells and the construction of a new pump station, airfield security improvements, and
rehabilitation of the commercial aircraft parking apron and taxiway.
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, 2017 is on the following page.
F-50
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 19 — GOVERNMENTAL FUND BALANCE CLASSIFICATIONS (continued)
Governmental
General Fine and Forfeiture HIDTA Grants Grants
Fund Balances:
Nonspendable:
Inventory
$ 28,175 $ - $ - $ -
Total Nonspendable
28,175 - - -
Restricted for:
Law Enforcement
- 19,061,761 - -
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
- - - -
Wastewater Projects
- - - -
Other Purposes
- - - -
Debt Service
- - - -
Capital Projects
- -
Total Restricted
- 19,061,761 - -
Committed to:
Disaster Recovery
5,111,583 - - -
Physical Environment
- - - -
Sheriff Contract Administration
- - - -
Wastewater Projects
- - - -
Beach Renourishment
- - - -
Total Committed
5,111,583 - - -
Assigned to:
Other Purposes
338,014 - - -
Fire and Ambulance
- - - -
Subsequent Year's Expenditures
13,888,368 - - -
Total Assigned
14,226,382 - - -
Unassigned:
15,479,357 - - (3,457,865)
Total Fund Balances
$ 34,845,497 $ 19,061,761 $ - $ (3,457,865)
F-51
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 19 — GOVERNMENTAL FUND BALANCE CLASSIFICATIONS (continued)
One Cent Infrastructure Cudjoe Regional
Infrastructure Revenue Bonds Wastewater
Surtax Series 2014 Project All Debt Service
Nommjor Total
Goverrnuental Goverrnuental
Funds Funds
- $ - $ 28,175
28,175
- - - - 15,405,866
34,467,627
- - - - 1,926,448
1,926,448
- - - - 6,080,759
6,080,759
- - - - 3,538,301
3,538,301
- - - - 16,087,889
16,087,889
- - - - 1,950,406
1,950,406
- - - - 33,971,046
33,971,046
- - - - 85,478
85,478
- - - - 1,137,819
1,137,819
- - - - 300,486
300,486
- - - - 1,373,502
1,373,502
- - - - 7,851,601
7,851,601
- - - - 5,242,910
5,242,910
- - 18,799,004 - 1,632,994
20,431,998
- - - - 831,269
831,269
- - - 2,617,419 -
2,617,419
20,692,528 12,930,202 - - 6,984,328
40,607,058
20,692,528 12,930,202 18,799,004 2,617,419 104,401,102
178,502,016
5,111,583
- 2,297,016 2,297,016
- - 1,212,885 1,212,885
- - 371,469 371,469
- - 212,658 212,658
- - 4,094,028 9,205,611
- 338,014
5,021,010 5,021,010
- 13,888,368
5,021,010 19,247,392
- - - (4,494,807) 7,526,685
$ 20,692,528 $ 12,930,202 $ 18,799,004 $ 2,617,419 $ 109,021,333 $ 214,509,879
F-52
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
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 2017 and 2016 were:
Worker's
Comp.
Group
Insurance
Risk Mgmt
Total
Unpaid Claims at Sept. 30, 2015 $ 917,954 $ 927,198 $ 189,345 $ 2,034,497
Incurred Claims
(Including IBNRs) 1,991,437 16,899,485 226,680 19,117,602
Claim Payments (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
Incurred Claims
(IncludinglBNRs) 1,928,730 16,186,908 1,905,615 20,021,253
Claim Payments (1,583,783) (16,059,964) (306,919) (17,950,666)
Unpaid Claims at Sept. 30, 2017 $ 770,056 $ 1,155,416 $ 1,845,476 $ 3,770,948
F-53
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 21 — LITIGATION AND CLAIMS
The County is a defendant in various lawsuits and is involved in other disputes wherein substantial
amounts are claimed. The County vigorously defends itself with respect to these matters. The County'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 County 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 Plaintiffs 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 expected prior to the end of FY 2018. The County
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 Plaintiffs 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
FY 2018. The County has recorded a liability of $775,000 in the government -wide financial
statements only, as the date of payment is unknown.
F-54
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2017
NOTE 21 — LITIGATION AND CLAIMS (continued)
In the opinion of the County, 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 County'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 — SUBSEQUENT EVENTS
On September 10, 2017, Monroe County sustained catastrophic damage county -wide due to a direct hit
from Hurricane Irma, a Category 4 storm. The storm resulted in substantial expenditures on protective
and security measures, debris clean-up and repairs to county buildings and facilities. These expenditures
are expected to continue for at least another year.
The County incurred immediate costs associated with emergency protective measures and debris
removal totaling approximately $40 million. Due to the size of the immediate need for liquidity, and due
to anticipated delays in disaster aid reimbursement from federal and state agencies, the County adopted
Resolution 020-2018 to fund a portion of the substantial expenditures on an interim basis by issuing
Series 2018 Tax Exempt Master Note, a revolving line of credit of up to $40 million with PNC Bank.
As of March 29, 2018, the County has drawn $15 million of the line of credit. The assumed interest rate
floats based on one month LIBOR and at the date of the last draw was approximately 2.04%. The
County agrees to budget and appropriate legally available non -ad valorem revenues to repay the line of
credit beginning August 1, 2019 through a final maturity of August 1, 2022. The County anticipates
using reimbursements from federal and state agencies under disaster assistance programs to repay the
line of credit.
Management has evaluated subsequent events through March 29, 2018, in connection with the
preparation of these financial statements, which is the date the financial statements were available to be
issued.
F-55
REQUIRED SUPPLEMENTARY INFORMATION
MONROE COUNTY, FLORIDA
SCHEDULE OF MONROE COUNTY PROPORTIONATE SHARE OF NET PENSION LIABILITY
FLORIDA RETIREMENT SYSTEM PENSION PLAN
LAST 10 FISCAL YEARS*
2017 2016 2015
Monroe County's proportion of the net pension liability 0.328044588% 0.316397501% 0.298789301%
Monroe County's proportionate share of the net pension liability $ 97,033,388 $ 79,890,617 $ 38,592,646
Monroe County's covered payroll $ 74,326,732 $ 70,699,621 $ 70,456,332
Monroe County's proportionate share of the net pension liability as a
percentage of its covered payroll
Plan fiduciary net position as a percentage of the total pension
liability
* The amounts presented for each fiscal year were determined as of June 30.
No data is available for the previous six years.
2014
0.303954236%
$ 18,545,678
$ 69,783,359
130.55% 113.00% 54.78% 26.58%
83.89% 84.88% 92.00% 96.09%
G-1
MONROE COUNTY, FLORIDA
SCHEDULE OF MONROE COUNTY CONTRIBUTIONS
FLORIDA RETIREMENT SYSTEM PENSION PLAN
LAST 10 FISCAL YEARS*
Contractually required contribution
Contributions in relation to the contractually required
contribution
Contribution deficiency (excess)
Monroe County's covered payroll
Contributions as a percentage of covered payroll
2017 2016 2015 2014
S 8,317,662 S 7,715,858 S 7,284,737 S 6,657,888
(8,317,662) (7,715,858) (7,284,737) (6,657,888)
S - S - S - S -
S 69,003,713 S 70,699,621 S 70,133,038 S 69,338,053
12.05% 10.91% 10.39% 9.60%
* The amounts presented for each fiscal year were determined as of September 30.
No data is available for the previous six years.
G-2
MONROE COUNTY, FLORIDA
SCHEDULE OF MONROE COUNTY PROPORTIONATE SHARE OF NET PENSION LIABILITY
HEALTH INSURANCE SUBSIDY PROGRAM
LAST 10 FISCAL YEARS*
2017
2016
2015
2014
Monroe County's proportion of the net pension liability
0.236677851%
0.228042287%
0.228621233%
0.231240629%
Monroe County's proportionate share of the net pension liability
$ 25,306,688
$ 26,577,384
$ 23,315,769
$ 21,621,563
Monroe County's covered payroll
$ 74,326,732
$ 70,699,621
$ 70,133,038
$ 69,338,053
Monroe County's proportionate share of the net pension liability as a
percentage of its covered payroll
34.05%
37.59%
33.25%
31.18%
Plan fiduciary net position as a percentage of the total pension liability
1.64%
0.97%
0.50%
0.99%
* The amounts presented for each fiscal year were determined as of June 30.
No data is available for the previous six years.
G-3
MONROE COUNTY, FLORIDA
SCHEDULE OF MONROE COUNTY CONTRIBUTIONS
HEALTH INSURANCE SUBSIDY PROGRAM
LAST 10 FISCAL YEARS*
2017 2016 2015 2014
Contractually required contribution S 1,392,250 S 1,168,862 S 873,933 S 792,153
contribution (1,392,250) (1,168,862) (873,933) (792,153)
Contribution deficiency (excess) S - S - S - S -
Monroe County's covered payroll
Contributions as a percentage of covered payroll
S 69,003,713 S 70,699,621 S 70,133,038 $ 69,338,053
2.02% 1.65% 1.25% 1.14%
* The amounts presented for each fiscal year were determined as of September 30.
No data is available for the previous six 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
Monroe County's covered payroll
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 payroll
County's total pension liability as a percentage of covered payroll
Notes to Schedule:
2017
2016
2015
2014
$ 22,937 $
16,394
$ 16,455
$ 18,434
9,146
8,895
8,054
12,219
(39,039)
33,108
89,397
(9,696)
(32,265)
(28,365)
(30,855)
(25,575)
(39,221)
30,032
83,051
(4,618)
917,368
887,336
804,285
808,903
$ 878,147 $
917,368
$ 887,336
$ 804,285
N/A
N/A
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
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MONROE COUNTY, FLORIDA
REQUIRED SUPPLEMENTARY INFORMATION
YEAR ENDED SEPTEMBER 30, 2017
TEN YEAR SCHEDULE OF EMPLOYER CONTRIBUTIONS
PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES
Year Ending December 31, 2016 2015 2014 2013 2012
Monroe County's covered payroll
Contributions in relation to the actuarially
percentage of its covered payroll
Contribution deficiency (excess)
Covered payroll
Contributions as a percentage of covered
payroll
Notes to Schedule
$ 39,899 $ 30,304 $ 28,575 $ 36,788 $ 28,145
39,899 30,304 28,575 36,788 28,145
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
2011 2010 2009 2008 2007
$ 30,379 $ 28,914 $ 30,791 $ 28,477 $ 24,233
30,379 28,914 30,791 28,477 24,233
N/A N/A N/A N/A N/A
G-7
MONROE COUNTY, FLORIDA
REQUIRED SUPPLEMENTARY INFORMATION
YEAR ENDED SEPTEMBER 30, 2017
OTHER POST EMPLOYMENT BENEFITS
SCHEDULE OF MONROE COUNTY'S FUNDING PROGRESS
Actuarial
Accrued
Actuarial
Actuarial
Liability -
UAAL as a
Valuation
Value of
Projected
Unfunded
Funded
Covered
Percentage of
Date
Assets
Unit Credit*
AAL
Ratio
Payroll*
Covered Payroll
10/1 /2014
$ -
$ 100,105
$ 100,105
0%
$ 70,326
142.34%
10/1/2015
-
96,096
96,096
0%
66,814
143.83%
10/1 /2016
-
81,245
81,245
0%
71,912
112.98%
*Amounts expressed in thousands
�3
MONROE COUNTY, FLORIDA
REQUIRED SUPPLEMENTARY INFORMATION
YEAR ENDED SEPTEMBER 30, 2017
OTHER POST EMPLOYMENT BENEFITS
SCHEDULE OF MONROE COUNTY'S EMPLOYER CONTRIBUTIONS
Employer Contributions
Annual
Year Required
Ended Contribution Percentage of
September 30 (ARC)* ARC Contributed
2017
$ 4,637
79%
2016
5,484
70%
2015
6,466
46%
*Amounts expressed in thousands
Notes to the Required Schedule:
The information presented in the required supplementary schedule was
determined as part of the actuarial valuation as follows:
Valuation Date
Actuarial cost method
Amortization method
Remaining amortization period
Asset valuation method
Actuarial assumptions:
Investment rate of return*
Medical cost trend rate
Year of ultimate trend rate
*Includes inflation at
12/12/17 as of 10/1/16
Projected Unit Credit
Level of percentage of pay, open
30 years
Market
4.00%
7.0% - 4.5%
2020
3.50%
G-9
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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.
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.
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.
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 Bay Point, Big Coppitt, Key
Largo, Stock Island, Conch Key, 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 TEEN COURT
To account for receipts and disbursements pertaining to a program designed to deter juveniles who are
becoming involved in crime.
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 STATE FORFEITURE
To account for the proceeds from state forfeitures received primarily from the South Florida Drug and
Money Laundering Task Force.
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 INMATE COMMISSARY
To account for the receipts and disbursements of inmate telephone commissions, canteen revenues,
and other inmate programs.
SHERIFF'S INTER -AGENCY COMMUNICATIONS
To account for revenues and expenditures allocated for radio communications.
SHERIFF'S TRAUMA STAR
To account for revenues and expenditures for the Sheriff's operation of the Trauma Star helicopter.
(Continued)
NONMAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS — CONTINUED
SHERIFF'S RADIO COMMUNICATIONS
To account for revenues and expenditures from Court fees for radio communications.
SHERIFF'S GRANTS
To account for the revenues and expenditures relating to various grants.
SHERIFF'S SHARED ASSET FORFEITURE
To account for the revenues and expenditures of the Sheriff Department's shared asset forfeiture
program.
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.
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.
BIG COPPITT WASTEWATER
To account for the revenues and expenditures of the wastewater infrastructure for Big Coppitt Key.
DUCK KEY WASTEWATER
To account for the revenues and expenditures of the wastewater infrastructure for Duck Key.
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.
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MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2017
SPECIAL
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
$ 54,386
$ 2,063,350
$ 1,370,350
$ 2,242,514
$ 2,685,076
Investments
336,820
12,284,174
4,708,491
6,873,760
10,369,491
Accounts Receivable, Net
-
-
-
1,612
-
Assessments Receivable
-
-
-
-
-
Due from Other Funds
-
-
105,663
196,231
164,955
Due from Other Governmental Units
-
622,303
-
-
-
Mortgages/Notes Receivable
-
-
-
-
-
Allowance for Mortgages/Notes Receivable
-
-
-
-
-
Advances to Other Governments
-
-
-
-
-
Interest Receivable
1,007
31,485
12,976
19,802
20,538
Total Assets
$ 392,213
$ 15,001,312
$ 6,197,480
$ 9,333,919
$ 13,240,060
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities:
Accounts Payable $
- $ 209,380 $
877,338 $ 1,057,479 $
874,176
Retainage Payable
- 13,359
- -
-
Accrued Wages and Benefits Payable
- 67,379
- 2,607
3,478
Due to Other Funds
- -
- -
-
Due to Other Governmental Units
- 46,893
- 57,856
82,997
Other Current Liabilities
- 226
- 1,103
-
Deposits in Escrow
- -
- -
-
Total Liabilities
- 337,237
877,338 1,119,045
960,651
Deferred Inflows of Resources:
Advances from Other Governments
- -
- -
-
Unavailable Revenues
- -
- -
-
Total Deferred Inflows of Resources
- -
- -
-
Fund Balances:
Restricted 392,213 14,664,075 5,320,142 8,214,874 12,066,751
Committed - - - - 212,658
Assigned - - - - -
Unassigned - - - - -
Total Fund Balances 392,213 14,664,075 5,320,142 8,214,874 12,279,409
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 392,213 $ 15,001,312 $ 6,197,480 $ 9,333,919 $ 13,240,060
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
$ 305,123 $
745,985 $
436,275 $
536,950 $
196,988 $
89,914
839,893
3,001,857
1,680,929
1,836,724
1,219,983
556,853
19,653
47,095
31,669
38,522
-
-
1,784
5,163
3,561
3,622
6,843
1,483
$ 1,166,453 $
3,800,100 $
2,152,434 $
2,415,818 $
1,423,814 $
648,250
$ 187,106 $ 239,714 $ 176,983 $ 527,807 $ - $ -
- - - 2,500 - -
1,633 - - 3,033 - -
96 21,184 4,989 481 - -
188,835 260,898 181,972 533,821 - -
977,618
3,539,202
1,970,462
1,881,997
1,423,814
648,250
977,618
3,539,202
1,970,462
1,881,997
1,423,814
648,250
$ 1,166,453 $ 3,800,100 $ 2,152,434 $ 2,415,818 $ 1,423,814 $ 648,250
(Continued)
H-2
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2017
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
$ 157,615
$ 13,808
$ 17,309
$ 13,493
$ 6,088
Investments
976,137
85,515
107,199
83,570
37,703
Accounts Receivable, Net
1,379
-
-
-
-
Assessments Receivable
-
-
-
-
-
Due from Other Funds
-
-
-
-
-
Due from Other Governmental Units
-
-
-
-
-
Mortgages/Notes Receivable
-
-
-
-
-
Allowance for Mortgages/Notes Receivable
-
-
-
-
-
Advances
-
-
-
-
-
Interest Receivable
2,688
211
203
183
701
Total Assets
$ 1,137,819
$ 99,534
$ 124,711
$ 97,246
$ 44,492
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 1,137,819 99,534 124,711 97,246 44,492
Committed - - - - -
Assigned - - - - -
Unassigned - - - - -
Total Fund Balances 1,137,819 99,534 124,711 97,246 44,492
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 1,137,819 $ 99,534 $ 124,711 $ 97,246 $ 44,492
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
$ 664,309 $
- $ 141,575
$ 1,531,273 $
272,931
4,602,280
- 683,205
8,363,631
1,686,687
15,271
- -
181
-
183,438
- 24,818
4,644
264,674
9,065
- -
166,315
-
17,316
1,837 2,738
23,643
4,746
$ 5,491,679 $
1,837 $ 852,336
$ 10,089,687 $
2,229,038
$ 113,825 $ 320 $ 92,167 $ 62,998 $ -
355,402 - 21,459 172,514 -
- 1,517 - - -
641 - 6,014 1,365 -
801 - - 568 -
- - 7,444 174,219 -
470,669 1,837 127,084 411,664 -
- - 725,252 9,678,023 2,229,038
5,021,010 - - - -
5,021,010 - 725,252 9,678,023 2,229,038
$ 5,491,679 $ 1,837 $ 852,336 $ 10,089,687 $ 2,229,038
(Continued)
H-4
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2017
SPECIAL
Duck Key
Local
Miscellaneous
Security
Housing
Boating
Special
District
Assistance
Improvement
Revenue
ASSETS
Cash and Cash Equivalents
$ 57,162
$ 220,827
$ 423,772
$ 427,329
Investments
322,904
1,367,623
2,400,540
2,609,902
Accounts Receivable, Net
-
-
-
1,731
Assessments Receivable
-
-
-
-
Due from Other Funds
-
-
-
68,699
Due from Other Governmental Units
-
-
-
-
Mortgages/Notes Receivable
-
8,235,695
-
-
Allowance for Mortgages/Notes Receivable
-
(8,235,695)
-
-
Advances
-
-
-
-
Interest Receivable
1,036
3,603
6,670
6,952
Total Assets
$ 381,102
$ 1,592,053
$ 2,830,982
$ 3,114,613
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities:
Accounts Payable $ 11,636 $ 78,352 $ 28,994 $ 16,151
Retainage Payable - - - -
Accrued Wages and Benefits Payable - - 2,259 1,367
Due to Other Funds - - - 21,360
Due to Other Governmental Units - - - -
Other Current Liabilities - - - -
Deposits in Escrow - - - -
Total Liabilities 11,636 78,352 31,253 38,878
Deferred Inflows of Resources:
Advances from Other Governments - - - -
Unavailable Revenues - - - -
Total Deferred Inflows of Resources - - - -
Fund Balances:
Restricted 369,466 1,513,701 2,799,729 3,075,735
Committed - - - -
Assigned - - - -
Unassigned - - - -
Total Fund Balances 369,466 1,513,701 2,799,729 3,075,735
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 381,102 $ 1,592,053 $ 2,830,982 $ 3,114,613
H-5
REVENUE FUNDS
Court Drug Marathon Bay Point Big Coppitt
Environmental Facility Abuse Municipal Wastewater Wastewater
Restoration Fees Trust Service MSTU MSTU
$ 321,400 $ 490,273 $ 12,211 $ 354 $ 6,433 $ 84
1,974,477 2,996,047 75,626 2,197 39,844 520
- 61,107 3,663 11 -
4,830 7,435 324 8 128 3
$ 2,300,707 $ 3,554,862 $ 91,824 $ 2,570 $ 46,405 $ 607
$ 1,105 $ 5,543 $ 6,346 $
2,586 2,852 - - - -
3,691 8,395 6,346 - - -
- 3,546,467 85,478 2,570 - -
2,297,016 - - - 46,405 607
2,297,016 3,546,467 85,478 2,570 46,405 607
$ 2,300,707 $ 3,554,862 $ 91,824 $ 2,570 $ 46,405 $ 607
(Continued)
H-6
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2017
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
SPECIAL
Key Largo Stock Island Long Key,
Wastewater Wastewater Conch Key Layton
MSTU MSTU MSTU MSTU
$ 922 $ 156,649 $ 67 $ 35,985
5,712 993,799 413 223,026
- 229,205 - -
- 520 - -
19 1,997 - 361
$ 6,653 $ 1,382,170 $ 480 $ 259,372
$ - $ 8,792 $ - $ 277
- 33 - 33
- 8,825 - 310
- 777,618 - -
- 777,618 - -
- 595,727 - -
6,653 - 480 259,062
6,653 595,727 480 259,062
$ 6,653 $ 1,382,170 $ 480 $ 259,372
H-7
REVENUE FUNDS
Sheriffs Sheriffs Sheriffs
Duck Key Building Teen Federal State
MSTU Fund Court Forfeiture Forfeiture
$ 8,228 $ 709,836 $ - $ 4,591,239 $ 131,854
50,958 3,339,445 - - 500,682
- - 44,178 10,741 -
- - 6,363 - -
164 8,547 - - 1,514
$ 59,350 $ 4,057,828 $ 50,541 $ 4,601,980 $ 634,050
$ 1,088 $ 206,010 $ - $ 9,729 $ -
- 108,544 - - -
- - - 12,411 -
- 48 - - -
- 8,110 - - -
1,088 322,712 - 22,140 -
- 3,735,116 50,541 4,579,840 634,050
58,262 - - - -
58,262 3,735,116 50,541 4,579,840 634,050
$ 59,350 $ 4,057,828 $ 50,541 $ 4,601,980 $ 634,050
(Continued)
H-8
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2017
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
Sheriffs Sheriffs Sheriffs
Contract Sheriffs Interagency Trauma
Administrative Commissary Communications Star
$ - $ 716,357 $ 396,370 $ 86,052
- 24,269 4,430 -
1,404,956 670 16,276 -
111,656 - 100 -
$ 1,516,612 $ 741,296 $ 417,176 $ 86,052
$ 74 $ 12,313 $ 9,641 $ -
- 10,132 - -
298,323 9,283 140 86,052
3,480 9,286 - -
301,877 41,014 9,781 86,052
Deferred Inflows of Resources:
Advances from Other Governments - - - -
Unavailable Revenues 1,850 - 21 -
Total Deferred Inflows of Resources 1,850 - 21 -
Fund Balances:
Restricted - 700,282 407,374 -
Committed 1,212,885 - - -
Assigned - - - -
Unassigned - - - -
Total Fund Balances 1,212,885 700,282 407,374 -
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 1,516,612 $ 741,296 $ 417,176 $ 86,052
H-9
REVENUE FUNDS
Sheriffs Sheriffs Clerk's Clerk's
Radio Sheriffs Shared Asset Sheriffs Records Court
Communication Grants Forfeiture E911 Modernization Related
$ 65,075 $ - $ 296,600 $ 1,773,273 $ 2,459,577 $ 1,710,617
- - 4,616,501 109,424 - -
- 5,084 - - - 91,114
- 4,580,237 - - - 278,484
- - 38,457 - - -
$ 65,075 $ 4,585,321 $ 4,951,558 $ 1,882,697 $ 2,459,577 $ 2,080,215
$ - $ - $ 52,393 $ 12,475 $ 3,338 $ 165,231
- - - 4,348 - -
65,075 4,585,321 34 34,971 88,355 1,007,233
- - - - - 668,430
65,075 4,585,321 52,427 51,794 91,693 1,840,894
- 4,494,807 -
50,000 - 239,321
- 4,494,807 -
50,000 - 239,321
- - 4,899,131
1,780,903 2,367,884 -
- (4,494,807) -
- - -
- (4,494,807) 4,899,131
1,780,903 2,367,884 -
$ 65,075 $ 4,585,321 $ 4,951,558 $ 1,882,697 $ 2,459,577 $ 2,080,215
(Continued)
H-10
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2017
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 Big Coppitt
Special Rev Revenue Revenue Bonds Wastewater
Funds Note Series 2007 Project
$ 28,643,858 $
24,480 $
1,377,880 $ 373,394
81,964,542
80,454
- 1,498,365
48,873
-
- -
229,205
-
- 2,458,737
2,788,381
-
- 1,297
5,774,523
-
- -
8,235,695
-
- -
(8,235,695)
-
- -
244,578
253
- 6,499
$ 119,693,960 $
105,187 $
1,377,880 $ 4,338,292
$ 5,048,781 $ - $ 12,493 $ 4,496
15,859 - - -
759,659 - - 33
6,210,075 - 173,028 1,900,000
903,760 - - -
2,698 - - -
189,773 - - -
13,130,605 - 185,521 1,904,529
5,563,617 - - 2,395,875
5,563,617 - - 2,395,875
96,379,507 105,187 1,192,359 37,888
4,094,028 - - -
5,021,010 - - -
(4,494,807) - - -
100,999,738 105,187 1,192,359 37,888
$ 119,693,960 $ 105,187 $ 1,377,880 $ 4,338,292
H-11
Total
Duck Key Long Key Land Nonmajor
Wastewater Wastewater Acquisition Governmental
Project Project Fund Funds
$ 24,608 $
41,914 $
791,366
$ 31,277,500
128,958
259,581
4,901,062
88,832,962
-
-
-
48,873
545,883
-
-
3,233,825
275
-
-
2,789,953
-
881,644
-
6,656,167
-
-
-
8,235,695
-
-
-
(8,235,695)
4,809
393
3,595
260,127
$ 704,533 $
1,183,532 $
5,696,023
$ 133,099,407
$ 5,026 $ 350,197 $ 9,241 $ 5,430,234
- - - 15,859
26 - - 759,718
- - - 8,283,103
- - - 903,760
- - - 2,698
- - - 189,773
5,052 350,197 9,241 15,585,145
533,437 - - 8,492,929
533,437 - - 8,492,929
166,044 833,335 5,686,782 104,401,102
- - - 4,094,028
- - - 5,021,010
- - - (4,494,807)
166,044 833,335 5,686,782 109,021,333
$ 704,533 $ 1,183,532 $ 5,696,023 $ 133,099,407
H-12
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2017
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
$ -
$ 2,544,792
$ 5,943,594
$ 12,316,296
$ 9,931,895
-
3,956,582
-
-
-
-
35,195
-
-
-
1,943
74,384
30,802
45,363
67,642
-
30,675
-
-
-
1,943
6,641,628
5,974,396
12,361,659
9,999,537
- 4,516,946 - - -
- - 6,402,351 12,875,390 8,006,821
- 4,516,946 6,402,351 12,875,390 8,006,821
1,943 2,124,682 (427,955) (513,731) 1,992,716
- 77,483 105,663 196,231 164,955
- (520,047) (98,927) (54,919) (59,799)
- (442,564) 6,736 141,312 105,156
1,943 1,682,118 (421,219) (372,419) 2,097,872
390,270 12,981,957 5,741,361 8,587,293 10,181,537
$ 392,213 $ 14,664,075 $ 5,320,142 $ 8,214,874 $ 12,279,409
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
$ 1,200,478
$ 2,848,466
$ 1,908,747
$ 2,370,304
$ -
$ -
-
-
-
-
119,198
46,920
5,515
18,969
11,003
12,462
10,166
3,113
1,205,993
2,867,435
1,919,750
2,382,766
129,364
50,033
1,074,913 2,029,958 1,549,577 2,399,559 - -
- - - - - 25,400
1,074,913 2,029,958 1,549,577 2,399,559 - 25,400
131,080 837,477 370,173 (16,793) 129,364 24,633
19,653 47,095 31,669 38,522 - -
(23,433) (16,647) (12,262) (37,715) (77,483) -
(3,780) 30,448 19,407 807 (77,483) -
127,300 867,925 389,580 (15,986) 51,881 24,633
850,318 2,671,277 1,580,882 1,897,983 1,371,933 623,617
$ 977,618 $ 3,539,202 $ 1,970,462 $ 1,881,997 $ 1,423,814 $ 648,250
(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, 2017
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
50,120
9,938
21,572
15,223
5,617
490
609
476
55,737
10,428
22,181
15,699
55,737 10,428 22,181 15,699
55,737
10,428
22,181
15,699
1,082,082
89,106
102,530
81,547
$ 1,137,819 $
99,534 $
124,711 $
97,246
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
$ -
$ 10,013,153
$ -
$ 1,624,615
$ 610,480
$ 3,836,888
19,201
-
-
-
-
-
-
146,548
-
6,252
1,806,500
-
-
656,238
-
57,149
2,773,167
3,780,045
-
-
-
-
1,562,516
-
230
48,236
1,525
7,417
57,855
17,186
-
223,887
-
42,714
252
-
19,431
11,088,062
1,525
1,738,147
6,810,770
7,634,119
- - - - 2,537,124 -
- 10,130,176 - - 2,514,788 955,843
- - - - 768,953 -
- - 853,703 - - -
- - - 1,794,223 - -
- 10,130,176 853,703 1,794,223 5,820,865 955,843
19,431 957,886 (852,178) (56,076) 989,905 6,678,276
- 183,438 - 24,818 4,544 264,674
- (1,397,051) - (210,464) (1,597,422) (7,126,636)
- (1,213,613) - (185,646) (1,592,878) (6,861,962)
19,431 (255,727) (852,178) (241,722) (602,973) (183,686)
25,061 5,276,737 852,178 966,974 10,280,996 2,412,724
$ 44,492 $ 5,021,010 $ - $ 725,252 $ 9,678,023 $ 2,229,038
(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, 2017
SPECIAL
Duck Key
Local
Miscellaneous
Security
Housing
Boating
Special
District
Assistance
Improvement
Revenue
REVENUES:
Taxes
$ -
$ -
$ -
$ -
Licenses and Permits
84,144
-
-
102,629
Intergovernmental
-
486,419
29,622
-
Charges for Services
-
-
757,113
372,610
Fines and Forfeitures
-
-
-
226,818
Investment Income
1,967
9,141
13,292
15,717
Miscellaneous
-
300,730
7,411
2,600
Total Revenues
86,111
796,290
807,438
720,374
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
1,000 - - 5,953
130,796 - - 62,905
- - 520,496 -
- 403,570 - -
- - - 23,409
- - - 10,508
- - - 176,609
131,796 403,570 520,496 279,384
(45,685) 392,720 286,942 440,990
- - 86,462 -
- - (109,265) (155,522)
- - (22,803) (155,522)
(45,685) 392,720 264,139 285,468
415,151 1,120,981 2,535,590 2,790,267
$ 369,466 $ 1,513,701 $ 2,799,729 $ 3,075,735
H-17
REVENUE FUNDS
Environmental
Restoration
Court
Facility
Fees
Drug Marathon
Abuse Municipal
Trust Service
Bay Point Big Coppitt
Wastewater Wastewater
MSTU MSTU
$ - $
- $
- $ 17
$ - $ -
-
480,710
31,080 -
- -
881,208
-
- -
- -
11,651
17,616
445 710
230 2
892,859
498,326
31,525 727
230 2
205,263 - - 21 - -
- - 59,857 - - -
- 173,569 - - - -
205,263 173,569 59,857 21 - -
687,596 324,757 (28,332) 706 230 2
(28,788) - - - - -
(28,788) - - 11 - -
658,808 324,757 (28,332) 717 230 2
1,638,208 3,221,710 113,810 1,853 46,175 605
$ 2,297,016 $ 3,546,467 $ 85,478 $ 2,570 $ 46,405 $ 607
(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, 2017
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
Key Largo Stock Island Long Key,
Wastewater Wastewater Conch Key Layton
MSTU MTSU MSTU MSTU
$ 14 $ - $ - $ -
- 27,391 - 4,594
33 14,721 2 1,283
- 3,562 - -
47 45,674 2 5,877
- 1,000 - -
- 125,503 - 4,235
- 126,503 - 4,235
47 (80,829) 2 1,642
- 520 - -
- 520 - -
47 (80,309) 2 1,642
6,606 676,036 478 257,420
$ 6,653 $ 595,727 $ 480 $ 259,062
H-19
REVENUE FUNDS
Duck Key Building
MSTU Fund
Sheriffs Sheriffs Sheriffs
Teen Federal State
Court Forfeiture Forfeiture
- 4,506,290 - - -
- - - 395,068 -
- 112,964 50,701 - -
- - - - 127,064
300 22,894 - 32,590 3,087
- 20,825 - 1,660 -
300 4,662,973 50,701 429,318 130,151
- 4,447,992 54,418 147,230 136,090
4,351 - - - -
4,351 4,447,992 54,418 147,230 136,090
(4,051) 214,981 (3,717) 282,088 (5,939)
- (509,033) - - -
- (509,033) - - -
(4,051) (294,052) (3,717)
282,088 (5,939)
62,313 4,029,168 54,258 4,297,752 639,989
$ 58,262 $ 3,735,116 $ 50,541 $ 4,579,840 $ 634,050
(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, 2017
SPECIAL
Sheriffs
Sheriffs Sheriffs
Contract
Sheriffs
Interagency Trauma
Administrative
Commissary
Communications Star
REVENUES:
Taxes
$ -
$ -
$ - $ -
Licenses and Permits
-
-
- -
Intergovernmental
273,838
-
- -
Charges for Services
3,365,179
443,129
22,266 -
Fines and Forfeitures
-
-
- -
Investment Income
4,849
5,048
3,209 -
Miscellaneous
3,200
13,474
- -
Total Revenues
3,647,066
461,651
25,475 -
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
3,598,714
385,278
168,152
5,616,097
3,598,714
385,278
168,152
5,616,097
48,352 76,373 (142,677) (5,616,097)
OTHER FINANCING SOURCES (USES):
Transfers from Other Funds 5,387 - 132,719 5,702,149
Transfers to Other Funds - - - (86,052)
Total Other Financing Sources (Uses) 5,387 - 132,719 5,616,097
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
53,739 76,373 (9,958) -
1,159,146 623,909 417,332 -
$ 1,212,885 $ 700,282 $ 407,374 $ -
H-21
REVENUE FUNDS
Sheriffs
Radio
Communication
Sheriffs
Grants
Sheriffs
Shared Asset
Forfeiture
Sheriffs
E911
Clerk's
Records
Modernization
Clerk's
Court
Related
-
342,651
-
-
-
638,372
41,546
-
-
461,354
301,756
850,596
-
-
-
-
130,152
1,311,092
-
-
88,409
14,383
26,386
10,154
-
-
-
-
-
17,867
41,546
342,651
88,409
475,737
458,294
2,828,081
689,950 5,075,371 255,701 662,385 - -
- - - - 555,912 2,952,097
689,950 5,075,371 255,701 662,385 555,912 2,952,097
(648,404)
(4,732,720)
(167,292)
(186,648)
(97,618)
(124,016)
713,479
237,913
-
-
-
982,703
(65,075)
-
-
-
-
(858,687)
648,404
237,913
-
-
-
124,016
-
(4,494,807)
(167,292)
(186,648)
(97,618)
-
-
-
5,066,423
1,967,551
2,465,502
-
$ - $
(4,494,807) $
4,899,131 $
1,780,903 $
2,367,884
$ -
(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, 2017
CAPITAL PROJECT FUNDS
Total Nonmajor
Clerk's Infrastructure
Big Coppitt
Special Rev
Revenue Revenue Bonds
Wastewater
Funds
Note Series 2007
Project
REVENUES:
Taxes
$ 55,149,739
$ - $ -
$ -
Licenses and Permits
5,007,220
- -
269,111
Intergovernmental
8,081,852
- -
-
Charges for Services
14,592,798
- -
-
Fines and Forfeitures
4,238,850
- -
-
Investment Income
719,122
530 7,847
89,417
Miscellaneous
668,857
- -
35,352
Total Revenues
88,458,438
530 7,847
393,880
EXPENDITURES:
Current:
General Government
2,545,077 - - -
Public Safety
35,031,886 - - -
Physical Environment
1,628,822 - - -
Transportation
4,516,946 - - -
Economic Environment
34,742,139 - - -
Human Services
936,969 - - -
Culture and Recreation
1,830,131 - - -
Court Related
3,858,187 - - -
Capital Projects
- - 26,692 20,795
Total Expenditures
85,090,157 - 26,692 20,795
Excess/Deficiency of Revenues
Over (Under) Expenditures 3,368,281 530 (18,845) 373,085
OTHER FINANCING SOURCES (USES):
Transfers from Other Funds 9,020,088 - - 1,286
Transfers to Other Funds (13,045,227) - - (681,938)
Total Other Financing Sources (Uses) (4,025,139) - - (680,652)
Net Change in Fund Balances (656,858) 530 (18,845) (307,567)
Fund Balances - October 1 101,656,596 104,657 1,211,204 345,455
Fund Balances - September 30 $ 100,999,738 $ 105,187 $ 1,192,359 $ 37,888
H-23
Duck Key
Wastewater
Project
Long Key
Wastewater
Project
Land
Acquisition
Fund
Total
Nonmajor
Governmental
Funds
$ -
$ -
$ -
$ 55,149,739
59,900
-
-
5,336,231
-
-
-
8,081,852
-
-
-
14,592,798
-
-
-
4,238,850
10,174
1,496
33,538
862,124
3,756
-
-
707,965
73,830
1,496
33,538
88,969,559
- - - 2,545,077
- - - 35,031,886
- - - 1,628,822
- - - 4,516,946
- - - 34,742,139
- - - 936,969
- - - 1,830,131
- - - 3,858,187
6,583 630,198 346,756 1,031,024
6,583 630,198 346,756 86,121,181
67,247 (628,702) (313,218) 2,848,378
273 - - 9,021,647
- - - (13,727,165)
273 - - (4,705,518)
67,520 (628,702) (313,218) (1,857,140)
98,524 1,462,037 6,000,000 110,878,473
$ 166,044 $ 833,335 $ 5,686,782 $ 109,021,333
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, 2017
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 $ 1,943 $ 843
1,100 1,100 1,943 843
290,000 290,000 - 290,000
290,000 290,000 - 290,000
(288,900) (288,900) 1,943 290,843
(9,387)
(9,387) -
9,387
(13,528)
(13,528) -
13,528
(22,915)
(22,915) -
22,915
(311,815)
(311,815) 1,943
313,758
311,815
311,815 390,270
78,455
Fund Balances - September 30 $ - $ - $ 392,213 $ 392,213
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, 2017
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Taxes
$ 2,435,000
$ 2,435,000
$ 2,544,792
$ 109,792
Intergovernmental
3,580,000
3,580,000
3,956,582
376,582
Charges for Services
57,000
57,000
35,195
(21,805)
Investment Income
35,000
35,000
74,384
39,384
Miscellaneous
22,700
22,700
30,675
7,975
Total Revenues
6,129,700
6,129,700
6,641,628
511,928
EXPENDITURES:
Current:
Transportation:
Road Department
4,164,846
4,164,844
3,159,926
1,004,918
County Engineer Road and Bridge
455,164
455,164
435,762
19,402
Street Lighting
245,173
245,173
229,150
16,023
Local Option Gas Tax Projects
357,583
357,583
325,417
32,166
80% Gas Tax
500,000
500,000
6,222
493,778
Paving Backlog
3,482,929
3,482,929
302,478
3,180,451
Sugarloaf Blvd Bridge
135,276
135,276
24,311
110,965
Sustainability Roads
458,680
458,680
33,680
425,000
Garrison Bight Bridge
420,797
420,797
-
420,797
Total Expenditures 10,220,448 10,220,446 4,516,946 5,703,500
Excess/Deficiency of Revenues
Over (Under) Expenditures (4,090,748) (4,090,746) 2,124,682 6,215,428
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
(548,336)
(548,336) -
548,336
Reserve for Cash Balance
(603,518)
(603,518) -
603,518
Transfers from Other Funds
77,483
77,483 77,483
-
Transfers to Other Funds
(4,431,839)
(4,431,841) (520,047)
3,911,794
Total Other Financing Sources (Uses)
(5,506,210)
(5,506,212) (442,564)
5,063,648
Net Change in Fund Balances (9,596,958) (9,596,958) 1,682,118 11,279,076
Fund Balances - October 1 9,596,958 9,596,958 12,981,957 3,384,999
Fund Balances - September 30 $ - $ - $ 14,664,075 $ 14,664,075
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, 2017
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)
$ 5,859,000
$ 5,859,000
$ 5,943,594
$ 84,594
-
-
30,802
30,802
5,859,000
5,859,000
5,974,396
115,396
1,488,227
1,488,227
1,177,135
311,092
1,175,500
1,175,500
978,484
197,016
1,100,000
1,100,000
1,031,237
68,763
3,505,811
3,505,811
2,240,145
1,265,666
1,827,833
1,827,833
-
1,827,833
1,429,864
1,429,864
975,350
454,514
10,527,235 10,527,235 6,402,351 4,124,884
(4,668,235) (4,668,235) (427,955) 4,240,280
OTHER FINANCING SOURCES (USES):
Transfers to Other Funds (58,182) (58,182) (98,927) (40,745)
Transfers from Other Funds - - 105,663 105,663
Total Other Financing Sources (Uses) (58,182) (58,182) 6,736 64,918
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
(4,726,417) (4,726,417) (421,219) 4,305,198
4,726,417 4,726,417 5,741,361 1,014,944
- $ 5,320,142 $ 5,320,142
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, 2017
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)
$ 12,141,000
$ 12,141,000
$ 12,316,296
$ 175,296
-
-
45,363
45,363
12,141,000
12,141,000
12,361,659
220,659
11,751,367
11,751,367 10,599,457
1,151,910
1,321,418
1,321,418 897,245
424,173
2,272,167
2,272,167 -
2,272,167
1,379,428
1,379,428 1,378,688
740
16,724,380 16,724,380 12,875,390 3,848,990
(4,583,380) (4,583,380) (513,731) 4,069,649
OTHER FINANCING SOURCES (USES):
Transfers to Other Funds (39,610) (39,610) (54,919) (15,309)
Transfers from Other Funds - - 196,231 196,231
Total Other Financing Sources (Uses) (39,610) (39,610) 141,312 180,922
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
(4,622,990) (4,622,990) (372,419) 4,250,571
4,622,990 4,622,990 8,587,293 3,964,303
$ - $ - $ 8,214,874 $ 8,214,874
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, 2017
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
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 10,090,800
$ 10,090,800
$ 9,931,895
$ (158,905)
-
-
67,642
67,642
10,090,800
10,090,800
9,999,537
(91,263)
6,061,967
6,026,967
418,257
418,257
585,543
620,543
8,111,833
8,111,833
383,761
383,761
314,047
314,047
5,732,526 294,441
3,666 414,591
339,640 280,903
1,547,229 6,564,604
383,760 1
- 314,047
15,875,408 15,875,408 8,006,821 7,868,587
(5,784,608) (5,784,608) 1,992,716 7,777,324
OTHER FINANCING SOURCES (USES):
Transfers to Other Funds (59,799) (59,799) (59,799) -
Transfers from Other Funds - - 164,955 164,955
Total Other Financing Sources (Uses) (59,799) (59,799) 105,156 164,955
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
(5,844,407) (5,844,407) 2,097,872 7,942,279
5,844,407 5,844,407 10,181,537 4,337,130
$ - $ - $ 12,279,409 $ 12,279,409
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, 2017
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
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 1,067,400
$ 1,067,400
$ 1,200,478
$ 133,078
-
-
5,515
5,515
1,067,400
1,067,400
1,205,993
138,593
840,316
840,316
826,532 13,784
21,323
21,323
373 20,950
506,407
506,407
152,248 354,159
95,760
95,760
95,760 -
1,463,806 1,463,806 1,074,913 388,893
(396,406) (396,406) 131,080 527,486
OTHER FINANCING SOURCES (USES):
Transfers to Other Funds (23,290) (23,290) (23,433) (143)
Transfers from Other Funds - - 19,653 19,653
Total Other Financing Sources (Uses) (23,290) (23,290) (3,780) 19,510
Net Change in Fund Balances
Fund Balances - October 1
(419,696) (419,696) 127,300 546,996
419,696 419,696 850,318 430,622
Fund Balances - September 30 $ - $ - $ 977,618 $ 977,618
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, 2017
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
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 2,705,400
$ 2,705,400
$ 2,848,466
$ 143,066
-
-
18,969
18,969
2,705,400
2,705,400
2,867,435
162,035
1,708,028
1,708,028
1,692,741
15,287
116,557
116,557
1,056
115,501
31,889
31,889
14,800
17,089
2,389,558
2,389,558
153,361
2,236,197
168,000
168,000
168,000
-
4,414,032 4,414,032 2,029,958 2,384,074
(1,708,632) (1,708,632) 837,477 2,546,109
OTHER FINANCING SOURCES (USES):
Transfers to Other Funds (16,356) (16,356) (16,647) (291)
Transfers from Other Funds - - 47,095 47,095
Total Other Financing Sources (Uses) (16,356) (16,356) 30,448 46,804
Net Change in Fund Balances
Fund Balances - October 1
(1,724,988) (1,724,988) 867,925 2,592,913
1,724,988 1,724,988 2,671,277 946,289
Fund Balances - September 30 $ - $ - $ 3,539,202 $ 3,539,202
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, 2017
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
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 1,927,800
$ 1,927,800
$ 1,908,747
$ (19,053)
-
-
11,003
11,003
1,927,800
1,927,800
1,919,750
(8,050)
1,337,784
1,337,784
1,217,094
120,690
67,153
67,153
870
66,283
150,030
150,030
73,418
76,612
914,722
914,722
100,695
814,027
157,500
157,500
157,500
-
2,627,189 2,627,189 1,549,577 1,077,612
(699,389) (699,389) 370,173 1,069,562
OTHER FINANCING SOURCES (USES):
Transfers to Other Funds (12,023) (12,023) (12,262) (239)
Transfers from Other Funds - - 31,669 31,669
Total Other Financing Sources (Uses) (12,023) (12,023) 19,407 31,430
Net Change in Fund Balances
Fund Balances - October 1
(711,412) (711,412) 389,580 1,100,992
711,412 711,412 1,580,882 869,470
Fund Balances - September 30 $ - $ - $ 1,970,462 $ 1,970,462
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, 2017
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
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 2,208,600
$ 2,208,600
$ 2,370,304
$ 161,704
-
-
12,462
12,462
2,208,600
2,208,600
2,382,766
174,166
1,811,946
1,811,946
1,681,297
130,649
60,661
60,661
249
60,412
149,100
149,100
149,100
-
163,091
163,091
84,723
78,368
1,047,259
1,047,259
484,190
563,069
3,232,057 3,232,057 2,399,559 832,498
(1,023,457) (1,023,457) (16,793) 1,006,664
OTHER FINANCING SOURCES (USES):
Transfers to Other Funds (37,424) (37,424) (37,715) (291)
Transfers from Other Funds - - 38,522 38,522
Total Other Financing Sources (Uses) (37,424) (37,424) 807 38,231
Net Change in Fund Balances
Fund Balances - October 1
(1,060,881) (1,060,881) (15,986) 1,044,895
1,060,881 1,060,881 1,897,983 837,102
Fund Balances - September 30 $ - $ - $ 1,881,997 $ 1,881,997
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, 2017
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
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 87,000
$ 87,000
$ 119,198
$ 32,198
9,665
9,665
10,166
501
96,665
96,665
129,364
32,699
280,416
280,416
929,520
929,520
37,128
37,128
1,247,064 1,247,064
- 280,416
- 929,520
- 37,128
- 1,247,064
(1,150,399) (1,150,399) 129,364 1,279,763
(77,483) (77,483) (77,483) -
(77,483) (77,483) (77,483) -
(1,227,882) (1,227,882) 51,881 1,279,763
1,227,882 1,227,882 1,371,933 144,051
Fund Balances - September 30 $ - $ - $ 1,423,814 $ 1,423,814
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, 2017
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)
$ 35,800
$ 35,800
$ 46,920
$ 11,120
1,200
1,200
3,113
1,913
37,000
37,000
50,033
13,033
139,541
139,541
- 139,541
243,713
243,713
- 243,713
154,393
154,393
- 154,393
18,656
18,656
- 18,656
6,645
6,645
- 6,645
25,400
25,400
25,400 -
588,348 588,348 25,400 562,948
(551,348) (551,348) 24,633 575,981
(551,348) (551,348) 24,633 575,981
551,348 551,348 623,617 72,269
$ 648,250 $ 648,250
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, 2017
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
$ 50,120
$ 20,120
2,700
2,700
5,617
2,917
32,700
32,700
55,737
23,037
1,081,827 1,081,827 - 1,081,827
25,000 25,000 - 25,000
1,106,827 1,106,827 - 1,106,827
(1,074,127) (1,074,127) 55,737 1,129,864
(1,074,127) (1,074,127) 55,737 1,129,864
1,074,127 1,074,127 1,082,082 7,955
$ - $ - $ 1,137,819 $ 1,137,819
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, 2017
Original Final
Budget Budget
Variance with
Final Budget
Positive
Actual (Negative)
REVENUES:
Licenses and Permits
$ 9,300 $
9,300 $
9,938 $ 638
Investment Income
150
150
490 340
Total Revenues
9,450
9,450
10,428 978
EXPENDITURES:
Current:
Physical Environment:
County -wide Solid Waste Projects
98,957
98,957
- 98,957
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
98,957 98,957 - 98,957
(89,507) (89,507) 10,428 99,935
(89,507) (89,507) 10,428 99,935
89,507 89,507 89,106 (401)
99,534 $ 99,534
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, 2017
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)
$ 24,000
$ 24,000
$ 21,572
$ (2,428)
200
200
609
409
24,200
24,200
22,181
(2,019)
115,152 115,152 - 115,152
115,152 115,152 - 115,152
(90,952)
(907952)
227181
1137133
(907952)
(907952)
227181
1137133
90,952 90,952 102,530 11,578
$ - $ - $ 124,711 $ 124,711
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, 2017
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)
$ 15,700
$ 15,700
$ 15,223
$ (477)
130
130
476
346
15,830
15,830
15,699
(131)
44,223
44,223
1,360
1,360
50,282
50,282
1,173
1,173
97,038 97,038
- 44,223
- 1,360
- 50,282
- 1,173
- 97,038
(81,208) (81,208) 15,699 96,907
(81,208) (81,208) 15,699 96,907
81,208 81,208 81,547 339
$ - $ - $ 97,246 $ 97,246
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, 2017
REVENUES:
Licenses and Permits
Investment Income
Total Revenues
EXPENDITURES:
Current:
Economic Environment:
District 1 Employee Fair Share Housing
District 3 Employee Fair Share Housing
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
Reserve for Cash Balance
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)
$ 10,000
$ 10,000
$ 19,201
$ 9,201
275
275
230
(45)
10,275
10,275
19,431
9,156
10,275 10,275 19,431 9,156
(51,572) (51,572) - 51,572
(51,572) (51,572) - 51,572
(41,297) (41,297) 19,431 60,728
41,297 41,297 25,061 (16,236)
$ - $ - $ 44,492 $ 44,492
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, 2017
INELV/Ell 0tl1�'ii
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)
$ 10,360,773 $ 10,360,773 $ 10,013,153 $ (347,620)
32,000
32,000
146,548
114,548
640,000
640,000
656,238
16,238
25,000
25,000
48,236
23,236
-
-
223,887
223,887
11,057,773
11,057,773
11,088,062
30,289
10,770,871 10,770,871 10,130,176 640,695
10,770,871 10,770,871 10,130,176 640,695
286,902 286,902 957,886 670,984
(518,577)
(518,577) -
518,577
(1,980,963)
(1,980,963) -
1,980,963
(1,432,763)
(1,432,763) (1,397,051)
35,712
170,000
170,000 183,438
13,438
(3,762,303)
(3,762,303) (1,213,613)
2,548,690
(3,475,401) (3,475,401) (255,727) 3,219,674
3,475,401 3,475,401 5,276,737 1,801,336
$ - $ - $ 5,021,010 $ 5,021,010
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, 2017
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):
Reserve for Contingencies
Reserve for Cash Balance
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)
$ 3,000 $ 4,000 $ 1,525 $ (2,475)
3,000 4,000 1,525 (2,475)
16,281 855,978 853,703 2,275
200,000 - - -
2,000 - - -
100 - - -
218,381 855,978 853,703 2,275
(215,381) (851,978) (852,178) (200)
(29,000) - - -
(37,142) - - -
(18,641) - - -
(84,783) - - -
(300,164) (851,978) (852,178) (200)
300,164 851,978 852,178 200
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, 2017
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 $ 1,624,615 $ (38,110)
-
-
6,252
6,252
40,000
40,000
57,149
17,149
4,000
4,000
7,417
3,417
70,000
70,000
42,714
(27,286)
1,776,725
1,776,725
1,738,147
(38,578)
1,719,043
1,719,043
1,593,169 125,874
180,000
180,000
180,000 -
29,707
29,707
21,054 8,653
1,928,750 1,928,750 1,794,223 134,527
(152,025) (152,025) (56,076) 95,949
(44,881)
(44,881) -
44,881
(247,068)
(247,068) -
247,068
(232,768)
(232,768) (210,464)
22,304
-
- 24,818
24,818
(524,717)
(524,717) (185,646)
339,071
(676,742) (676,742) (241,722) 435,020
676,742 676,742 966,974 290,232
$ - $ - $ 725,252 $ 725,252
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, 2017
REVENUES:
Taxes
Intergovernmental
Charges for Services
Fines and Forfeitures
Investment Income
Miscellaneous
Total Revenues
Expenditures:
Current:
General Government:
Growth Mgmt County Attorney
Planning Department
Planning Commission
Growth Mgmt Administration
Planning Building Refunds
Total General Government
Public Safety:
Code Enforcement
Fire and Rescue Coordinator
Fire Marshall
Fire 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 $ 610,480 $ (54,520)
2,000,000
2,000,000
1,806,500
(193,500)
2,225,000
2,225,000
2,773,167
548,167
800,000
800,000
1,562,516
762,516
25,000
25,000
57,855
32,855
-
-
252
252
5,715,000
5,715,000
6,810,770
1,095,770
480,011
480,011
473,372
6,639
1,706,385
1,706,385
1,627,583
78,802
87,033
87,033
71,205
15,828
789,903
789,903
364,964
424,939
12,000
69,000
-
69,000
3,075,332
3,132,332
2,537,124
595,208
1,416,346
1,416,346
1,311,071
105,275
864,466
864,466
790,251
74,215
448,697
448,697
393,639
55,058
2,000
2,000
19,827
(17,827)
2,731,509
2,731,509
2,514,788
216,721
791,628 791,628 768,953 22,675
791,628 791,628 768,953 22,675
6,598,469 6,655,469 5,820,865 834,604
(883,469) (940,469) 989,905 1,930,374
(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, 2017
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)
(406,911) (349,911) - 349,911
(1,720,278) (1,720,278) - 1,720,278
(1,596,369) (1,596,369) (1,597,422) (1,053)
10,000 10,000 4,544 (5,456)
(3,713,558) (3,656,558) (1,592,878) 2,063,680
(4,597,027) (4,597,027) (602,973) 3,994,054
4,597,027 4,597,027 10,280,996 5,683,969
$ - $ - $ 9,678,023 $ 9,678,023
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, 2017
REVENUES:
Taxes
Charges for Services
Investment Income
Total Revenues
EXPENDITURES:
Current:
Public Safety:
Insurance Unincorporated and Layton
Insurance Islamorada
Insurance Marathon
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
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 3,967,760
$ 3,967,760
$ 3,836,888
$ (130,872)
3,648,068
3,648,068
3,780,045
131,977
7,100
7,100
17,186
10,086
7,622,928
7,622,928
7,634,119
11,191
616,201
616,201
508,627
107,574
256,833
256,833
237,715
19,118
228,813
228,813
209,501
19,312
1,101,847 1,101,847 955,843 146,004
6,521,081 6,521,081 6,678,276 157,195
(100,000) (100,000) - 100,000
(718,631) (718,631) - 718,631
(7,141,550) (7,141,550) (7,126,636) 14,914
325,000 325,000 264,674 (60,326)
(7,635,181) (7,635,181) (6,861,962) 773,219
(1,114,100) (1,114,100) (183,686) 930,414
1,114,100 1,114,100 2,412,724 1,298,624
Fund Balances - September 30 $ - $ - $ 2,229,038 $ 2,229,038
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, 2017
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
$ 84,144
$ 9,144
1,100
1,100
1,967
867
76,100
76,100
86,111
10,011
2,250 2,250 1,000 1,250
255,813 291,813 130,796 161,017
258,063 294,063 131,796 162,267
Excess/Deficiency of Revenues
Over (Under) Expenditures (181,963) (217,963) (45,685) 172,278
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies (36,322) (322) - 322
Reserve for Cash Balance (68,831) (68,831) - 68,831
Total Other Financing Sources (Uses) (105,153) (69,153) - 69,153
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
(287,116) (287,116)
287,116 287,116
(45,685) 241,431
415,151 128,035
$ 369,466 $ 369,466
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, 2017
REVENUES:
Intergovernmental
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Economic Environment:
Homeowner Assistance
Fair Housing
Administration
Total Expenditures
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 420,000
$ 420,000
$ 486,419
$ 66,419
4,500
4,500
9,141
4,641
180,000
180,000
300,730
120,730
604,500
604,500
796,290
191,790
1,543,551
1,543,551
359,850 1,183,701
15,000
15,000
- 15,000
125,500
125,500
43,720 81,780
1,684,051 1,684,051 403,570 1,280,481
Excess/Deficiency of Revenues
Over (Under) Expenditures
(1,079,551)
(1,079,551)
392,720 1,472,271
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
(110,608)
(110,608)
- 110,608
Reserve for Cash Balance
(15,000)
(15,000)
- 15,000
Total Other Financing Sources (Uses)
(125,608)
(125,608)
- 125,608
Net Change in Fund Balances (1,205,159) (1,205,159) 392,720 1,597,879
Fund Balances - October 1 1,205,159 1,205,159 1,120,981 (84,178)
Fund Balances - September 30 $ - $ - $ 1,513,701 $ 1,513,701
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, 2017
REVENUES:
Charges for Services
Intergovernmental
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):
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)
$ 685,000
$ 685,000
$ 757,113
$ 72,113
-
-
29,622
29,622
7,000
7,000
13,292
6,292
-
-
7,411
7,411
692,000
692,000
807,438
115,438
1,567,567 1,598,968 362,940 1,236,028
462,832 402,831 157,556 245,275
2,030,399 2,001,799 520,496 1,481,303
(1,338,399) (1,309,799) 286,942 1,596,741
(215,895) (149,381) -
149,381
(307,045) (307,045) -
307,045
- (181,576) (109,265)
72,311
- 86,462 86,462
-
(522,940) (551,540) (22,803)
528,737
(1,861,339) (1,861,339) 264,139 2,125,478
1,861,339 1,861,339 2,535,590 674,251
$ - $ - $ 2,799,729 $ 2,799,729
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, 2017
REVENUES:
Licenses and Permits
Charges for Services
Fines and Forfeitures
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
General Government:
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
Original Final
Budget Budget
Actual
Final Budget
Positive
(Negative)
$ - $ 102,629
$ 102,629
$ -
- 313,438
372,610
59,172
- 94,100
226,818
132,718
- -
15,717
15,717
- 2,500
2,600
100
- 512,667
720,374
207,707
15,000 15,000 - 15,000
570 6,529 5,953 576
15,570 21,529 5,953 15,576
23,400 61,499 33,360 28,139
40,000 100,030 29,386 70,644
- 4,500 - 4,500
- - 159 (159)
63,400 166,029 62,905 103,124
3,000
5,979
306
5,673
1,557
1,761
300
1,461
50,000
192,267
-
192,267
-
22,803
22,803
-
54,557
222,810
23,409
199,401
- 2,633
- 2,633
20,000 60,200
10,508 49,692
250,000 291,537
- 291,537
270,000 354,370
10,508 343,862
(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, 2017
Court Related:
Teen Court
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
Variance with
Final Budget
Positive
Actual (Negative)
15,000
87,425
32,766
54,659
375,000
554,038
57,320
496,718
10,000
96,929
48,117
48,812
47,800
379,999
38,406
341,593
447,800
1,118,391
176,609
941,782
851,327 1,883,129 279,384 1,603,745
(851,327) (1,370,462) 440,990 1,811,452
Reserve for Contingencies (860,558) (298,317) - 298,317
Transfers to Other Funds (140,000) (185,606) (155,522) 30,084
Transfers from Other Funds - 2,500 - (2,500)
Total Other Financing Sources (Uses) (1,000,558) (481,423) (155,522) 325,901
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
(1,851,885) (1,851,885) 285,468 2,137,353
1,851,885 1,851,885 2,790,267 938,382
- $ 3,075,735 $ 3,075,735
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, 2017
REVENUES:
Fines and Forfeitures
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Environmental Restoration
KLWT Plant Site Mitg Pro
Total Environmental Restoration
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
$ 881,208
$ 626,208
4,700
4,700
11,651
6,951
259,700
259,700
892,859
633,159
409,341
379,341 205,263 174,078
409,341 379,341 205,263 174,078
409,341 379,341 205,263 174,078
(149,641) (119,641) 687,596 807,237
Reserve for Contingencies (56,247) (56,247) - 56,247
Reserve for Cash Balance (116,274) (116,274) - 116,274
Transfers to Other Funds - (30,000) (28,788) 1,212
Total Other Financing Sources (Uses) (172,521) (202,521) (28,788) 173,733
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
(322,162) (322,162) 658,808 980,970
322,162 322,162 1,638,208 1,316,046
- $ 2,297,016 $ 2,297,016
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, 2017
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)
$ 530,000
$ 530,000
$ 480,710
$ (49,290)
5,000
5,000
17,616
12,616
535,000
535,000
498,326
(36,674)
376,447 376,447 173,569 202,878
376,447 376,447 173,569 202,878
Excess/Deficiency of Revenues
Over (Under) Expenditures
158,553
158,553 324,757
166,204
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
(38,532)
(38,532) -
38,532
Reserve for Cash Balance
(93,271)
(93,271) -
93,271
Total Other Financing Sources (Uses)
(131,803)
(131,803) -
131,803
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
26,750 26,750 324,757 298,007
(26,750) (26,750) 3,221,710 3,248,460
- $ 3,546,467 $ 3,546,467
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, 2017
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Charges for Services
$ 35,000
$ 35,000
$ 31,080
$ (3,920)
Investment Income
380
380
445
65
Total Revenues
35,380
35,380
31,525
(3,855)
EXPENDITURES:
Current:
Human Services:
Drug Abuse Trust Fund 100,000 100,000 59,857 40,143
Total Expenditures 100,000 100,000 59,857 40,143
Excess/Deficiency of Revenues
Over (Under) Expenditures
(64,620)
(64,620) (28,332)
36,288
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
(12,268)
(12,268) -
12,268
Reserve for Cash Balance
(20,000)
(20,000) -
20,000
Transfers to Other Funds
-
- -
-
Total Other Financing Sources (Uses)
(32,268)
(32,268) -
32,268
Net Change in Fund Balances (96,888) (96,888) (28,332) 68,556
Fund
Balances - October 1
96,888 96,888 113,810
16,922
Fund
Balances - September 30
$ - $ - $ 85,478 $
85,478
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, 2017
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):
Transfers from Other Funds
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)
$ - $ - $ 17 $ 17
- - 710 710
- - 727 727
210 210
21 189
1,125 1,125 - 1,125
1,335 1,335 21 1,314
(1,335) (1,335) 706 2,041
(140)
(140)
-
140
(140)
(140)
11
151
(1,475)
(1,475)
717
2,192
1,475
1,475
1,853
378
2,570 $
2,570
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, 2017
REVENUES:
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Bay Point 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)
$ - $ - $ 230 $ 230
- - 230 230
28,787 28,787 - 28,787
28,787 28,787 - 28,787
(28,787) (28,787)
230 29,017
(2,760) (2,760) - 2,760
(3,505) (3,505) - 3,505
(6,265) (6,265) - 6,265
(35,052) (35,052) 230 35,282
35,052 35,052 46,175 11,123
$ - $ - $ 46,405 $ 46,405
H-56
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, 2017
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
Fund Balances - September 30
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
- - 2 2
- - 2 2
942 942 - 942
942 942 - 942
(942) (942) 2 944
(40) (40) - 40
(30) (30) - 30
(70) (70) - 70
(1,012) (1,012) 2 1,014
1,012 1,012 605 (407)
607 $ 607
H-57
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, 2017
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
Reserve for Cash
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)
$ - $ - $ 14 $ 14
- - 33 33
- - 47 47
3,550 3,550 - 3,550
3,550 3,550 - 3,550
(3,550) (3,550) 47 3,597
(282)
(500)
(282) - 282
(500) - 500
(782)
(782) - 782
(4,332)
(4,332) 47 4,379
4,332 4,332 6,606 2,274
6,653 $ 6,653
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, 2017
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
$ 27,391
$ (14,609)
1,700
1,700
14,721
13,021
-
-
3,562
3,562
43,700
43,700
45,674
1,974
1,500 1,500 1,000 500
1,500 1,500 1,000 500
423,000 423,000 125,503 297,497
424,500 424,500 126,503 297,997
Excess/Deficiency of Revenues
Over (Under) Expenditures
(380,800)
(380,800) (80,829)
299,971
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
(52,150)
(52,150) -
52,150
Reserve for Cash Balance
(100,700)
(100,700) -
100,700
Transfers from Other Funds
425
425 520
95
Total Other Financing Sources (Uses)
(152,425)
(152,425) 520
152,945
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
(533,225) (533,225)
533,225 533,225
(80,309) 452,916
676,036 142,811
$ 595,727 $ 595,727
H-59
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, 2017
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)
$ - $ - $ 2 $ 2
- - 2 2
400
400 -
400
400
400 -
400
(400)
(400) 2
402
(400)
400
(400) 2
400 478
402
78
480 $ 480
H-60
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, 2017
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)
$ - $ - $ 4,594 $ 4,594
- - 1,283 1,283
- - 5,877 5,877
155,060 155,060 4,235 150,825
155,060 155,060 4,235 150,825
Excess/Deficiency of Revenues
Over (Under) Expenditures (155,060) (155,060) 1,642 156,702
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies (15,000) (15,000) - 15,000
Reserve for Cash Balance (34,216) (34,216) - 34,216
Total Other Financing Sources (Uses) (49,216) (49,216) - 49,216
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
(204,276) (204,276) 1,642 205,918
204,276 204,276 257,420 53,144
$ 259,062 $ 259,062
H-61
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, 2017
REVENUES:
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Duck Key Wastewater
Total Expenditures
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ - $ - $ 300 $ 300
- - 300 300
33,500 33,500 4,351 29,149
33,500 33,500 4,351 29,149
Excess/Deficiency of Revenues
Over (Under) Expenditures (33,500) (33,500) (4,051) 29,449
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies (4,500) (4,500) - 4,500
Reserve for Cash Balance (9,416) (9,416) - 9,416
Total Other Financing Sources (Uses) (13,916) (13,916) - 13,916
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
(47,416) (47,416) (4,051) 43,365
47,416 47,416 62,313 14,897
58,262 $ 58,262
H-62
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BUILDING FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2017
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)
$ 3,775,000
$ 3,775,000
$ 4,506,290
$ 731,290
90,000
90,000
112,964
22,964
9,000
9,000
22,894
13,894
30,000
30,000
20,825
(9,175)
3,904,000
3,904,000
4,662,973
758,973
4,507,099 4,777,053 4,439,090 337,963
30,000 30,000 8,902 21,098
4,537,099 4,807,053 4,447,992 359,061
(633,099) (903,053) 214,981 1,118,034
(269,954) - - -
(516,799) (516,799) - 516,799
(509,033) (509,033) (509,033) -
(1,295,786) (1,025,832) (509,033) 516,799
(1,928,885) (1,928,885) (294,052) 1,634,833
1,928,885 1,928,885 4,029,168 2,100,283
$ - $ - $ 3,735,116 $ 3,735,116
H-63
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, 2017
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 $ 530 $ (1,592)
2,122 2,122 530 (1,592)
2,122 2,122 - 2,122
2,122 2,122 - 2,122
- - 530 530
- - 530 530
- - 104,657 104,657
$ 105,187 $ 105,187
H-64
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, 2017
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ - $ - $ 7,847 $ 7,847
Total Revenues - - 7,847 7,847
EXPENDITURES:
Capital Projects 1,000,000 1,000,000 26,692 973,308
Total Expenditures 1,000,000 1,000,000 26,692 973,308
Excess/Deficiency of Revenues
Over (Under) Expenditures (1,000,000) (1,000,000) (18,845) 981,155
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies (57,767) (57,767) - 57,767
Total Other Financing Sources (Uses) (57,767) (57,767) - 57,767
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
(1,057,767) (1,057,767) (18,845) 1,038,922
1,057,767 1,057,767 1,211,204 153,437
$ 1,192,359 $ 1,192,359
H-65
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, 2017
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
$ 269,111
$ (205,889)
10,000
10,000
89,417
79,417
-
-
35,352
35,352
485,000
485,000
393,880
(91,120)
5,000 5,000 - 5,000
68,500 68,500 20,795 47,705
73,500 73,500 20,795 52,705
411,500 411,500 373,085 (38,415)
OTHER FINANCING SOURCES (USES):
Transfers from Other Funds - - 1,286 1,286
Transfers to Other Funds (682,000) (682,000) (681,938) 62
Total Other Financing Sources (Uses) (682,000) (682,000) (680,652) 1,348
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
(270,500) (270,500)
270,500 270,500
(307,567) (37,067)
345,455 74,955
37,888 $ 37,888
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, 2017
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Licenses and Permits
$ 31,500
$ 31,500
$ 59,900
$ 28,400
Investment Income
3,500
3,500
10,174
6,674
Miscellaneous
-
-
3,756
3,756
Total Revenues
35,000
35,000
73,830
38,830
EXPENDITURES:
Capital Projects 35,000 35,000 6,583 28,417
Total Expenditures 35,000 35,000 6,583 28,417
Excess/Deficiency of Revenues
Over (Under) Expenditures - - 67,247 67,247
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies (281,750) (281,750) - 281,750
Reserve for Cash Balance (61,613) (61,613) - 61,613
Transfer From Other Funds - - 273 273
Total Other Financing Sources (Uses) (343,363) (343,363) 273 343,636
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
(343,363) (343,363) 67,520 410,883
343,363 343,363 98,524 (244,839)
$ - $ - $ 166,044 $ 166,044
H-67
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, 2017
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)
$ - $ - $ 1,496 $ 1,496
- - 1,496 1,496
- 1,461,643 630,198 831,445
- 1,461,643 630,198 831,445
- (1,461,643) (628,702) 832,941
- 1,461,643 - (1,461,643)
- 1,461,643 - (1,461,643)
(628,702) (628,702)
- - 1,462,037 1,462,037
$ 833,335 $ 833,335
H-68
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, 2017
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ - $ - $ 33,538 $ 33,538
Total Revenues - - 33,538 33,538
EXPENDITURES:
Capital Projects 8,000,000 8,000,000 346,756 7,653,244
Total Expenditures 8,000,000 8,000,000 346,756 7,653,244
Excess/Deficiency of Revenues
Over (Under) Expenditures (8,000,000) (8,000,000) (313,218) 7,686,782
Other Financing Sources (Uses):
Transfer From Other Funds 2,000,000 2,000,000 - (2,000,000)
Total Other Financing Sources (Uses) 2,000,000 2,000,000 - (2,000,000)
Net Change in Fund Balances
(6,000,000)
(6,000,000)
(313,218) 5,686,782
Fund Balances - October 1
6,000,000
6,000,000
6,000,000 -
Fund Balances - September 30 $ - $ - $ 5,686,782 $ 5,686,782
H-69
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, 2017
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
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 50,000 $ 50,000 $ 50,701 $ 701
60,000 60,000 54,418 5,582
(10,000)
(10,000)
(3,717)
6,283
(10,000)
(10,000)
(3,717)
6,283
54,258 54,258 54,258 -
$ 44,258 $ 44,258 $ 50,541 $ 6,283
H-70
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, 2017
REVENUES:
Intergovernmental
Investment Income
Miscellaneous 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)
$ - $ - $ 395,068 $ 395,068
- - 32,590 32,590
- - 1,660 1,660
- - 429,318 429,318
50,000
77,000
60,765
16,235
400,000
90,000
86,465
3,535
450,000
167,000
147,230
19,770
(450,000) (167,000) 282,088 449,088
(450,000) (167,000) 282,088 449,088
4,297,752 4,297,752 4,297,752 -
$ 3,847,752 $ 4,130,752 $ 4,579,840 $ 449,088
H-71
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, 2017
REVENUES:
Fines and Forfeitures
Investment Income
Miscellaneous Income
Total Revenues
EXPENDITURES:
Current:
Public Safety:
Law Enforcement
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)
$ 49,500
$ 130,500
$ 127,064
$ (3,436)
2,250
2,250
3,087
837
-
134,312
-
(134,312)
51,750
267,062
130,151
(136,911)
480,000 676,312 136,090 540,222
(428,250) (409,250) (5,939) 403,311
(28,318) (28,318) - 28,318
(77,243) (77,243) - 77,243
(105,561) (105,561) - 105,561
(533,811) (514,811) (5,939) 508,872
533,811 514,811 639,989 125,178
- $ 634,050 $ 634,050
H-72
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, 2017
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Intergovernmental
$ 365,000
$ 275,000
$ 273,838
$ (1,162)
Charges for Services
3,335,000
3,340,000
3,365,179
25,179
Investment Income
5,000
5,000
4,849
(151)
Miscellaneous Income
-
-
3,200
3,200
Total Revenues
3,705,000
3,620,000
3,647,066
27,066
EXPENDITURES:
Current:
Public Safety 3,705,000 3,620,000 3,598,714 21,286
Total Expenditures 3,705,000 3,620,000 3,598,714 21,286
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures - - 48,352 48,352
OTHER FINANCING SOURCES/(USES):
Transfers from Other Funds - - 5,387 5,387
Total other financing sources (uses) - - 5,387 5,387
Net Change in Fund Balances - - 53,739 53,739
Fund Balances - October 1 1,159,146 1,159,146 1,159,146 -
Fund Balances - September 30 $ 1,159,146 $ 1,159,146 $ 1,212,885 $ 53,739
H-73
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, 2017
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Charges for Services
$ 548,000
$ 446,000
$ 443,129
$ (2,871)
Investment Income
3,200
5,200
5,048
(152)
Miscellaneous
13,800
13,800
13,474
(326)
Total Revenues
565,000
465,000
461,651
(3,349)
EXPENDITURES:
Current:
Public Safety 472,500 400,000 385,278 14,722
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures 92,500 65,000 76,373 11,373
OTHER FINANCING SOURCES/(USES):
Transfers from Other Funds - - - -
Net Change in Fund Balances 92,500 65,000 76,373 11,373
Fund Balances - October 1 623,909 623,909 623,909 -
Fund Balances - September 30 $ 716,409 $ 688,909 $ 700,282 $ 11,373
H-74
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, 2017
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
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 25,000
$ 23,000
$ 22,266
$ (734)
5,000
4,000
3,209
(791)
30,000
27,000
25,475
(1,525)
165,000 170,000 168,152 1,848
(135,000) (143,000) (142,677) 323
135,000 133,000 132,719 (281)
- (10,000) (9,958) 42
417,332 417,332 417,332
$ 417,332 $ 407,332 $ 407,374 $
42
H-75
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, 2017
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
EXPENDITURES:
Current:
Public Safety
$ 1,887,163
$ 5,702,149
$ 5,616,097
$ 86,052
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures
(1,887,163)
(5,702,149)
(5,616,097)
86,052
OTHER FINANCING SOURCES/(USES):
Transfers from Other Funds
1,887,163
5,702,149
5,702,149
-
Transfers to Other Funds
-
-
(86,052)
(86,052)
Total Other Financing Sources/Uses
1,887,163
51702,149
5,616,097
(86,052)
Net Change in Fund Balances - - - -
Fund Balances - October 1 - - - -
Fund Balances - September 30
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, 2017
REVENUES:
Charges for Services
EXPENDITURES:
Current:
Public Safety
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ - $ - $ 41,546 $ 41,546
523,479 712,979 689,950 23,029
(523,479) (712,979) (648,404) 64,575
OTHER FINANCING SOURCES/(USES):
Transfers from Other Funds 523,479 713,479 713,479 -
Transfers to Other Funds - - (65,075) (65,075)
Total Other Financing Sources/Uses 523,479 713,479 648,404 (65,075)
Net Change in Fund Balances - - - -
Fund Balances - October 1 - - - -
Fund Balances - September 30
H-77
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, 2017
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)
$ 400,000 $ 400,000 $ 342,651 $ (57,349)
450,000 5,125,000 5,075,371 49,629
(50,000) (4,725,000) (4,732,720) (7,720)
50,000 200,000 237,913 37,913
(4,525,000) (4,494,807) 30,193
$ - $ (4,525,000) $ (4,494,807) $ 30,193
H-78
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, 2017
REVENUES:
Investment Income
EXPENDITURES:
Current:
Public Safety:
Law Enforcement
Grants and Aid
Loss on Investments
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)
$ 130,000 $ 90,000 $ 88,409 $ (1,591)
2,100 1,000 624 376
133,900 140,000 135,547 4,453
- 125,000 119,530 5,470
136,000 266,000 255,701 10,299
(6,000) (176,000) (167,292) (11,890)
(6,000) (176,000) (167,292) 8,708
5,066,423 5,066,423 5,066,423
$ 5,060,423 $ 4,890,423 $ 4,899,131 $
8,708
H-79
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, 2017
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Charges for Services $ 480,000
$ 480,000
$ 461,354
$ (18,646)
Investment Income 20,300
20,300
14,383
(5,917)
Total Revenues 500,300
500,300
475,737
(24,563)
EXPENDITURES:
Current:
Public Safety 570,000 675,000 662,385 12,615
Excess/Deficiency of Revenues
Over (Under) Expenditures (69,700) (174,700) (186,648) (37,178)
Net Change in Fund Balances (69,700) (174,700) (186,648) (11,948)
Fund Balances - October 1 1,986,645 1,881,645 1,967,551 85,906
Fund Balances - September 30 $ 1,916,945 $ 1,706,945 $ 1,780,903 $ 73,958
:e]
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, 2017
REVENUES:
Charges for Services
Fines and Forfeitures
Investment Income
Total Revenues
EXPENDITURES:
Current:
Court Related:
Clerk Fines
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)
$ 245,000
$ 245,000
$ 301,756
$ 56,756
152,500
152,500
130,152
(22,348)
14,500
14,500
26,386
11,886
412,000
412,000
458,294
46,294
607,676 607,676 555,912 51,764
607,676 607,676 555,912 51,764
(195,676) (195,676) (97,618) (5,470)
(195,676) (195,676) (97,618) 98,058
2,465,502 2,465,502 2,465,502 -
$ 2,269,826 $ 2,269,826 $ 2,367,884 $ 98,058
H-81
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, 2017
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Intergovernmental
$ 720,332
$ 720,332
$ 638,372
$ (81,960)
Charges for Services
863,100
863,100
850,596
(12,504)
Fines and Forfeitures
1,310,517
1,310,517
1,311,092
575
Investment Income
7,500
7,500
10,154
2,654
Miscellaneous
2,200
2,200
17,867
15,667
Total Revenues
2,903,649
2,903,649
2,828,081
(75,568)
EXPENDITURES:
Current:
Court Related
Clerk Administration
218,640
218,640
136,469
82,171
Clerk
Records Management
247,467
222,467
61,718
160,749
Clerk
Jury Management
154,782
154,782
141,813
12,969
Clerk
Circuit Court Criminal
719,630
719,630
534,213
185,417
Clerk
Circuit Court Civil
529,386
529,386
499,400
29,986
Clerk
Court Information Systems
198,722
223,722
214,002
9,720
Clerk
Circuit Court Family
178,256
153,256
92,727
60,529
Clerk
Circuit Court Juvenile
104,319
129,319
118,210
11,109
Clerk
Circuit Court Probate
111,658
111,658
104,558
7,100
Clerk
County Court Criminal
595,959
595,959
347,406
248,553
Clerk
County Court Civil
194,638
194,638
181,563
13,075
Clerk
County Court Traffic
632,895
632,895
520,018
112,877
Total Expenditures
3,886,352
3,886,352
2,952,097
934,255
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures (982,703) (982,703) (124,016) 858,687
OTHER FINANCING SOURCES/(USES):
Transfer from Other Funds 982,703 982,703 982,703 -
Transfer to Other funds - - (858,687) (858,687)
Total Other Financing Sources/(Uses) 982,703 982,703 124,016 (858,687)
Net Change in Fund Balances - - - -
Fund Balances - October 1 - - - -
Fund Balances - September 30
:.j
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, 2017
REVENUES:
Taxes
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Capital Outlay:
General Government
Public Safety
Physical Environment
Transportation: Const. Mgmt.
Transportation: Const. Mgmt.
Culture and Recreation
Total Capital Outlay Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 21,000,000
$ 21,000,000
$ 21,510,929 $
510,929
50,000
50,000
120,958
70,958
21,050,000
21,050,000
21,631,887
581,887
6,096,090
6,096,090
4,235,477
1,860,613
452,127
452,127
237,576
214,551
3,358,772
3,158,772
1,846,654
1,312,118
50,000
50,000
21,461
28,539
12,514,290
12,532,117
3,259,837
9,272,280
3,751,795
3,751,795
3,061,640
690,155
26,223,074 26,040,901 12,662,645 13,378,256
(5,173,074) (4,990,901) 8,969,242 13,960,143
Reserve for Contingencies
(2,934,546)
(416,719) -
416,719
Reserve for Cash Balance
(839,178)
(839,178) -
839,178
Transfers to Other Funds
(12,486,920)
(15,186,920) (11,886,490)
3,300,430
Total Other Financing Sources (Uses)
(16,260,644)
(16,442,817) (11,886,490)
4,556,327
Net Change in Fund Balances (21,433,718) (21,433,718) (2,917,248) 18,516,470
Fund Balances - October 1 21,433,718 21,433,718 23,609,776 2,176,058
Fund Balances - September 30 $ - $ - $ 20,692,528 $ 20,692,528
H-83
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, 2017
REVENUES:
Licenses and Permits
Intergovernmental
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Capital Outlay:
Physical Environment:
Cudjoe Regional Wastewater Project
County 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):
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 2,275,400
$ 2,275,400
$ 1,383,709
$ (891,691)
-
-
873,400
873,400
-
-
131,480
131,480
2,275,400
2,275,400
2,388,589
113,189
3,000,000
3,000,000 -
3,000,000
14,724,600
14,724,600 17,217,601
(2,493,001)
25,000
25,000 -
25,000
144,499
144,499 118,471
26,028
17,894,099
17,894,099 17,336,072
558,027
17,894,099 17,894,099 17,336,072 558,027
(15,618,699) (15,618,699) (14,947,483) 671,216
Reserve for Contingencies
(199,423)
(199,423)
-
199,423
Issuance of Debt
14,724,600
14,724,600
25,397,527
10,672,927
Transfers from Other Funds
3,000,000
3,000,000
3,119
(2,996,881)
Transfers to Other Funds
(21,000,000)
(21,000,000)
(15,000,000)
6,000,000
Total Other Financing
Sources (Uses) (3,474,823)
(3,474,823)
10,400,646
13,875,469
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
(19,093,522) (19,093,522)
19,093,522 19,093,522
(4,546,837)
23,345,841
14,546,685
4,252,319
$ 18,799,004 $ 18,799,004
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, 2017
REVENUES:
Investment Income
Total Revenues
EXPENDITURES:
Capital Projects - General Government
Capital Projects - Culture and Recreation
Capital Projects - Buildings
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies
Issuance of Debt
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)
$ - $ - $ 125,368 $ 125,368
125,368 125,368
6,500,000 7,260,000 149,736 7,110,264
3,145,118 8,501,434 7,490,944 1,010,490
10,123,092 6,057,393 1,796,388 4,261,005
19,768,210 21,818,827 9,437,068 12,381,759
(19,768,210) (21,818,827) (9,311,700) 12,507,127
(2,262,573)
(211,956)
- 211,956
1,143,118
1,143,118
- (1,143,118)
15,823,724
15,823,724
15,000,000 (823,724)
14,704,269
16,754,886
15,000,000 (1,754,886)
(5,063,941) (5,063,941) 5,688,300 10,752,241
5,063,941 5,063,941 7,241,902 2,177,961
$ 12,930,202 $ 12,930,202
H-85
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, 2017
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ 5,100 $ 5,100 $ 47,080 $ 41,980
Total Revenues 5,100 5,100 47,080 41,980
EXPENDITURES:
Current:
Debt Service:
2007 Revenue Bonds
Principal
3,295,000
3,295,000
3,295,000 -
Interest
337,000
423,125
423,125 -
Other Debt Service Costs
300
300
300 -
Total 2007 Revenue Bonds
3,632,300
3,718,425
3,718,425 -
Clean Water SRF Loan
Principal 915,624 915,624 477,373 438,251
Interest 204,566 204,566 204,565 1
Total Clean Water SRF Loan 1,120,190 1,120,190 681,938 438,252
04i1E10401ii 2 ; 0=1 o ?
Principal
3,555,000
3,555,000 3,555,000 -
Interest
728,886
728,886 728,886 -
Total 2014 Revenue Bonds
4,283,886
4,283,886 4,283,886 -
PNC Line of Credit
Interest
854,116
854,116 - 854,116
Total PNC Line of Credit
854,116
854,116 - 854,116
Mayfield Loan
Principal - 1,000,000 1,000,000 -
Total Mayfield Loan - 1,000,000 1,000,000 -
2016 Revenue Bonds
Principal - 100,000 100,000 -
Interest - 272,162 137,258 134,904
Other Debt Service Costs - - (36,367) 36,367
Total2016 Revenue Bonds - 372,162 200,891 171,271
Total Expenditures 9,890,492 11,348,779 9,885,140 1,463,639
Excess/Deficiency of Revenues
Over (Under) Expenditures (9,885,392) (11,343,679) (9,838,060) 1,505,619
(Continued)
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, 2017
Original Final
Budget Budget
OTHER FINANCING SOURCES (USES):
Variance with
Final Budget
Positive
Actual (Negative)
Reserve for Contingencies
(1,000,000)
(913,875)
- 913,875
Reserve for Cash Balance
(1,000,000)
(1,000,000)
- 1,000,000
Transfers from Other Funds
9,890,492
11,262,654
9,890,000 (1,372,654)
Total Other Financing Sources (Uses)
7,890,492
9,348,779
9,890,000 541,221
Net Change in Fund Balances
Fund Balances - October 1
Fund Balances - September 30
(1,994,900) (1,994,900) 51,940 2,046,840
1,994,900 1,994,900 2,565,479 570,579
$ 2,617,419 $ 2,617,419
H-87
This page is intentionally left blank.
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF NET POSITION
INTERNAL SERVICE FUNDS
SEPTEMBER 30, 2017
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
$ 584,233 $
2,436,560 $
707,500
3,401,811
9,059,326
4,110,143
-
30,957
282,848
-
554,270
-
-
196,518
-
11,795
32,129
12,958
3,997,839
12,309,760
5,113,449
868 - 24,035
868 - 24,035
3,998,707 12,309,760 5,137,484
38,201 79,580 89,429
13,049
2,063,104
20,122
6,104
34,754
11,589
770,056
1,155,416
1,845,476
2,378
-
-
-
28
-
3,138
5,702
8,641
794,725
3,259,004
1,885,828
12,550
22,811
34,567
143,750
96,193
243,186
164,506
194,300
159,209
320,806
313,304
436,962
1,115,531 3,572,308 2,322,790
5,850 12,300 13,564
868 - 24,035
2,914,659 8,804,732 2,866,524
$ 2,915,527 $ 8,804,732 $ 2,890,559
H-88
Fleet
Management
Fund Total
$ 467,138
$ 4,195,431
2,558,302
19,129,582
-
313,805
51
554,321
10,990
207,508
6,918
63,800
3,043,399
24,464,447
54,000 54,000
768,113 793,016
822,113 847,016
3,865,512 25,311,463
319,004 526,214
47,910
2,144,185
42,077
94,524
-
3,770,948
-
2,378
-
28
20,378
37,859
110,365
6,049,922
81,518
151,446
513,392
996,521
801,213
1,319,228
1,396,123
2,467,195
1,506,488 8,517,117
48,635 80,349
822,113 847,016
1,807,280 16,393,195
$ 2,629,393 $ 17,240,211
H-89
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENSES, AND
CHANGES IN NET POSITION
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2017
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
Total Net Position - September 30
Worker's Group Risk
Compensation Insurance Management
Fund Fund Fund
$ 1,658,946 $ 18,346,643 $ 3,316,939
3,470 75,000 26,012
1,662,416 18,421,643 3,342,951
181,763
304,769
332,071
572,600
1,469,869
1,937,873
-
-
2,001
1,928,729
16,186,908
1,905,615
2,683,092
17,961,546
4,177,560
(1,020,676) 460,097 (834,609)
19,380
654,913
38,838
159,509
30,411
323,589
674,293
198,347
354,000
(346,383) 658,444 (480,609)
(61,030) (117,760) (32,970)
(407,413) 540,684 (513,579)
3,322,940 8,264,048 3,404,138
$ 2,915,527 $ 8,804,732 $ 2,890,559
H-90
Fleet
Management
Fund Total
$ 2,724,365 $ 26,046,893
- 104,482
2,724,365 26,151,375
1,338,601
2,157,204
937,483
4,917,825
55,576
57,577
-
20,021,252
2,331,660
27,153,858
392,705 (1,002,483)
20,527 109,156
- 1,138,011
20,527 1,247,167
413,232 244,684
(367,760) (579,520)
45,472 (334,836)
2,583,921 17,575,047
$ 2,629,393 $ 17,240,211
H-91
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2017
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
Compensation
Fund
Group
Insurance
Fund
Risk
Management
Fund
$ 1,658,946 $
18,330,808
$ 3,034,091
-
(365,142)
-
654,913
159,509
323,589
(561,594)
(1,048,685)
(1,933,456)
(141,022)
(260,379)
(298,787)
(4,021)
(28,787)
-
(1,583,782)
(16,059,964)
(306,919)
975
68,354
22,997
24,415
795,714
841,515
(61,030) (117,760) (32,970)
(61,030) (117,760) (32,970)
19,380 38,838 30,411
2,063,348 5,080,279 2,037,117
(2,357,210) (6,167,242) (2,726,845)
(274,482) (1,048,125) (659,317)
(311,097) (370,171) 149,228
895,330 2,806,731 558,272
September 30 $ 584,233 $ 2,436,560 $ 707,500
H-92
Fleet
Management
Fund Total
$ 2,724,405 $ 25,748,250
6,147
(358,995)
-
1,138,011
(922,617)
(4,466,352)
(1,208,751)
(1,908,939)
(417,223)
(450,031)
-
(17,950,665)
(1,876)
90,450
180,085 1,841,729
(367,760) (579,520)
(367,760) (579,520)
(12,508) (12,508)
(12,508) (12,508)
20,527 109,156
2,216,452 11,397,196
(1,949,432) (13,200,729)
287,547 (1,694,377)
87,364 (444,676)
379,774 4,640,107
$ 467,138 $ 4,195,431
(Continued)
H-93
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF CASH FLOWS (CONTINUED)
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2017
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, Liabilities, and Deferrals:
(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
$ (1,020,676) $ 460,097 $ (834,609)
- - 2,001
654,913 159,509 323,589
-
(15,835)
(282,848)
-
82,943
-
-
(476,654)
-
(2,495)
(6,646)
(3,015)
11,006
421,184
4,417
6,104
26,179
11,589
344,947
126,944
1,598,696
(4,021)
-
-
-
(218)
-
4,954
3,386
24,924
4,363
2,919
7,380
9,371
19,335
22,171
12,944
(16,235)
(43,790)
3,005
8,806
11,010
1,045,091
335,617
1,676,124
$ 24,415 $ 795,714 $ 841,515
$ 12,922 $ 39,075 $ 17,025
$ 584,233 $ 2,436,560 $ 707,500
H-94
Fleet
Management
Fund Total
$ 392,705 $ (1,002,483)
55,576 57,577
- 1,138,011
40
(298,643)
(10,921)
72,022
17,068
(459,586)
(1,876)
(14,032)
14,866
451,473
42,077
85,949
-
2,070,587
(417,183)
(421,204)
(40)
(258)
21,332
54,596
15,580
30,242
78,661
129,538
(62,239)
(109,320)
34,439
57,260
(212,620)
2,844,212
$ 180,085 $ 1,841,729
$ 12,472 $ 81,494
$ 467,138 $ 4,195,431
H-95
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF FIDUCIARY NET POSITION
ALL AGENCY FUNDS
SEPTEMBER 30, 2017
Clerk's
Sheriffs
Tag
General
General
and
Property
Agency
Agency
License
Tax
Totals
ASSETS
Cash and Cash Equivalents
$
5,260,343
$
708,715
$
260,544
$ 2,130,230
$
8,359,832
Accounts Receivable
24,743
5,240
5,196
45
35,224
Total Assets
$
5,285,086
$
713,955
$
265,740
$ 2,130,275
$
8,395,056
LIABILITIES
Due to Others
$
4,538,453
$
713,955
$
6,658
$ 72,260
$
5,331,326
Due to Other Governmental Units
746,633
-
259,082
2,058,015
3,063,730
Total Liabilities
$
5,285,086
$
713,955
$
265,740
$ 2,130,275
$
8,395,056
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
ALL AGENCY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2017
10/1/2016
Additions
Deductions
9/30/2017
Clerk's General
Assets
Cash and Cash Equivalents
$ 4,445,899
$ 43,158,428
$ 42,343,984
$ 5,260,343
Accounts Receivable
5,719
106,575
87,551
24,743
Total Assets
$ 4,451,618
$ 43,265,003
$ 42,431,535
$ 5,285,086
Liabilities
Due to Others $ 3,612,885
$ 2,592,229
$ 1,666,661
$ 4,538,453
Due to Other Governmental Units 838,733
40,672,774
40,764,874
746,633
Total Liabilities $ 4,451,618
$ 43,265,003
$ 42,431,535
$ 5,285,086
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
Due to Others
Undistributed Collections
Total Liabilities
$
622,196
$
1,607,990
$
1,521,471
$
708,715
142
1,016,011
1,010,913
5,240
$
622,338
$
2,624,001
$
2,532,384
$
713,955
$
622,338
$
2,351,646
$
2,260,029
$
713,955
$
622,338
$
2,351,646
$
2,260,029
$
713,955
$
293,208
$
15,258,540
$
15,291,204
$
260,544
1,846
3,350
-
5,196
$
295,054
$
15,261,890
$
15,291,204
$
265,740
$
291,695
$
15,198,232
$
15,230,845
$
259,082
3,359
63,658
60,359
6,658
$
295,054
$
15,261,890
$
15,291,204
$
265,740
$ 1,360,966 $ 309,492,004 $ 308,722,740 $ 2,130,230
124 - 79 45
$ 1,361,090 $ 309,492,004 $ 308,722,819 $ 2,130,275
$ 44,038
$ 7,041,335
$ 7,013,113
$ 72,260
1,317,052
302,450,669
301,709,706
2,058,015
$ 1,361,090
$ 309,492,004
$ 308,722,819
$ 2,130,275
(Continued)
H-97
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION (CONTINUED)
ALL AGENCY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2017
10/1/2016 Additions Deductions 9/30/2017
Total All Agency Funds
Assets
Cash and Cash Equivalents $ 6,722,269 $ 369,516,962 $ 367,879,399 $ 8,359,832
Accounts Receivable 7,831 1,125,936 1,098,543 35,224
Total Assets $ 6,730,100 $ 370,642,898 $ 368,977,942 $ 8,395,056
Liabilities
Due to Others $ 4,282,620 $ 12,048,868 $ 11,000,162 $ 5,331,326
Due to Other Governmental Units 2,447,480 358,321,675 357,705,425 3,063,730
Total Liabilities $ 6,730,100 $ 370,370,543 $ 368,705,587 $ 8,395,056
H-98
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.
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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
Year Tax Tax Tax Tax Other Taxes Total
2008 $ 74,581,111 $ 2,774,826 $ 28,455,229 $ 15,006,028
2009
81,181,540
2,567,410
25,936,719
14,962,879
2010
81,685,080
2,820,046
27,042,539
19,658,401
2011
78,492,821
3,221,050
29,123,899
22,409,539
2012
74,644,751
6,288,112
30,706,877
25,606,873
2013
72,392,013
3,895,240
31,684,654
27,192,150
2014
73,682,489
4,348,864
34,323,661
30,555,397
2015
75,322,772
4,297,140
36,609,660
34,480,163
2016
75,463,966
4,579,158
38,090,049
36,633,260
2017
77,511,075
4,564,973
39,450,577
36,519,780
We
2,055,110 $ 122,872,304
1,141,964 $ 125,790,512
1,292,038 $ 132,498,104
1,702,807 $ 134,950,116
1,866,485 $ 139,113,098
1,837,247 $ 137,001,304
1,960,584 $ 144,870,995
1,081,021 $ 151,790,756
1,131,692 $ 155,898,125
1,097,971 $ 159,144,376
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Monroe County, Florida
Principal Property Taxpayers
Current Year and Nine Years Ago
2017
Taxable
Assessed
Taxpayer
Value
Rank
Ocean Reef Club Inc
$ 117,418,563
1
Fla. Keys Electric Co -Op
110,906,757
2
Sunset City Lessee, LLC
107,916,438
3
CWI Keys Hotel LLC
102,188,047
4
Casa Marina Owner LLC
95,067,130
5
NWCL LLC
92,244,359
6
Windward Pointe II LLC
86,667,830
7
Galleon Condominium Assoc Inc
75,344,696
8
Key Largo Hospitality Group LLC
65,343,518
9
SHS Ltd
62,049,009
10
BellSouth/Southern Bell
City of Key West
Bluegreen Resorts Management
Hyatt Key West
MM70 Owner LLC
$ 915,146,347
Source: Monroe County Property Appraiser
2008
Percentage of
Percentage of
Total Taxable
Taxable
Total Taxable
Assessed
Assessed
Assessed
Value
Value
Rank
Value
0.51 %
0.48%
$ 83,469,255
1
0.29%
0.47%
0.44%
-
0.41%
66,650,103
6
0.23%
0.40%
0.38%
51,039,144
8
0.18%
0.33%
72,566,263
3
0.25%
0.28%
0.27%
66,682,765
5
0.23%
76,707,307
2
0.27%
67,739,655
4
0.24%
45,945,715
9
0.16%
66,402,706
7
0.23%
40,615,761
10
0.14%
3.97%
$ 637,818,674
2.22%
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1-15
Monroe County, Florida
Ratios of General Bonded Debt Outstanding
Last Ten Fiscal Years
General
Fiscal Obligation
Year Bonds
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 2008-2017.
1-16
Monroe County, Florida
Direct and Overlapping Governmental Activities Debt
September 30, 2017
Estimated Amount
Debt Percentage Applicable to
Direct Debt Outstanding Applicable County
Monroe County, Florida $ 181,562,254 100% $ 181,562,254
Monroe County does not have any overlapping debt as of September 30, 2017.
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.
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 2008-2017
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
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
2017
21,510,929
6,950,000
1,203,144
8,153,144
2.64
Note: Details regarding the County's outstanding debt can be found in the notes to the financial statements.
1-19
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COMPLIANCE SECTION
01 NINON'
t"'
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, 2017, 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 29, 2018 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. 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.
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
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 29, 2018
J-2
(IN ,113
Cherry rt-
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 U.S Office of Management and Budget (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, 2017. 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; 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, the 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, 2017.
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 compliance 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 the 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. 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 the Uniform
Guidance and Chapter 10.550, Rules of the Auditor General. Accordingly, this report is not suitable for any other
purpose.
Orlando, Florida
March 29, 2018
J-4
Monroe County, Florida
Schedule of Expenditures of Federal Awards
and State Financial Assistance
For The Year Ended September 30, 2017
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
the Aging:
Title IIIB Grants for Supportive Services & Senior Centers - 2016 93.044 AA-1629
Title IIIB Grants for Supportive Services & Senior Centers - 2017 93.044 AA-1729
Total Program
Title IIIC1 Nutrition Services (Congregate Meals) 2016
Title IIIC1 Nutrition Services (Congregate Meals) 2017
Title IIIC2 Nutrition Services (Home Delivered Meals) 2016
Title IIIC2 Nutrition Services (Home Delivered Meals) 2017
Total Program
Nutrition Services Incentive Program - 2016
Nutrition Services Incentive Program - 2017
Total Program
Total Aging Cluster
Title IIIE Caregiver Support Services - 2016
Title IIIE Caregiver Support Services - 2017
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 - 2017
Low Income Home Energy Assistance Program - 2018
Low Income Home Energy Assistance Program/WAP-2016
Low Income Home Energy Assistance Program/WAP-2017
Total Program
Total Federal Agency
The accompanying notes are an integral part of this schedule.
93.045 AA-1629
93.045 AA-1729
93.045 AA-1629
93.045 AA-1729
$ 28,831 $
98,991
127,822
44,793
108,862
30,595
152,652
336,902
93.053
US-1651
15,520
93.053
US-1751
5,377
20,897
485,621
93.052
AA-1629
45,041
93.052
AA-1729
102,061
147,102
93.563 COC44
93.568 16EA-0 F-11-54-01-019
93.568 17EA-0 F-11-54-01-019
93.568 16WX-OG-11-54-01-039
93.568 17WX-OG-11-54-01-039
247,893
69,022
96,358
24,422
5,663
195,465
1,076,081
(Continued)
J-5
Monroe County, Florida
Schedule of Expenditures of Federal Awards
and State Financial Assistance
For The Year Ended September 30, 2017
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
Direct Program:
Bureau of Justice Assistance:
Bulletproof Vest Program
Edward Byrne Memorial Justice Assistance Grant Program:
Drug Court Medical Director Initiative
Total Program
Passed through Office of the Attorney General:
Victims of Crime Acts
Passed through Florida Department of Law Enforcement:
Edward Byrne Memorial Residential Substance Abuse Treatment:
Men's Jail Housed Drug Abuse Treatment Program
Edward Byrne Memorial Justice Assistance Grant - Guidance Care:
Assisted Living Prevents Recidivism
Edward Byrne Memorial Justice Assistance Grant-Women's Jail
Incarceration Drug Abuse Program
Total Program
Total Federal Agency
Executive Office of the President:
Direct Program:
High Intensity Drug Trafficking Areas
High Intensity Drug Trafficking Areas
High Intensity Drug Trafficking Areas
High Intensity Drug Trafficking Areas
High Intensity Drug Trafficking Areas
High Intensity Drug Trafficking Areas
High Intensity Drug Trafficking Areas
High Intensity Drug Trafficking Areas
High Intensity Drug Trafficking Areas
High Intensity Drug Trafficking Areas
High Intensity Drug Trafficking Areas
High Intensity Drug Trafficking Areas
High Intensity Drug Trafficking Areas
High Intensity Drug Trafficking Areas
High Intensity Drug Trafficking Areas
Total Federal Agency
16.922
16.607
2016BUBX16084451
16.738
2016-DJ-BX-0896
16.575
VO-002277
16.593
2017-RSAT-MONR-1-X5-003
16.738
2017-JAGC-MONR-2-F9-112
34,256
11,100
45,356
323,858
44,393 44,393
39,979 39,979
16.738 2017-JAGC-MONR-1-F9-075 35,065 35,065
119,437 119,437
622,115 119,437
95.001
G17MI0001A
1,792,845
95.001
G16MI0001A
5,543,437
95.001
G15MI0001A
3,085,817
95.001
G17ACOOO5A
926,293
95.001
G16ACOOO5A
1,366,441
95.001
G16AC0004A
51,858
95.001
G15AC0004A
59,058
95.001
G15ACOOO5A
876,140
95.001
G14ACOOO5A
262,446
95.001
G14AC0004A
20,475
95.001
G13AC0004A
18,891
95.001
G13ACOOO5A
20,547
95.001
G15PR0001A
1,892,834
95.001
G16PR0001A
2,607,247
95.001
G17PR0001A
1,569,109
20,093,438
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, 2017
Federal/State Agency, Passed Through
Pass -through Entity CFDA to
Federal Program/State Project Number Contract / Grant Number Expenditures Subrecipients
Department of Transportation:
Direct Program:
Federal Aviation Administration -Airport Improvement Program
Key West AIP-3747
Key West AIP-3751
Key West AIP-3752
Key West AIP-3753
Marathon AIP-4431
Marathon AIP-4435
Total Program
Federal Highway Administration:
Highway Planning and Construction Cluster
Passed through Florida Department of Transportation:
Transportation Planning Program 2012
Garrison Bight Bridge Repair Project
Scenic Highway Overlooks
Rowell's Scenic Overlook
Lower Keys Scenic Viewing Area
The Pigeon Key Ramp Repair Design Project
Total Highway Planning and Construction Cluster
Federal Transit Administration:
Enhanced Mobility of Seniors and Individuals with Disabilities
Total Federal Agency
Department of Homeland Security:
Passed through Florida Division of Emergency Management:
Emergency Management Performance Grant FY16-17
Emergency Management Performance Grant FY17-18
Total Program
Department of Commerce
Passed through University of Florida:
2014 Sea Grant Omnibus Proposal
Passed through the City of Miami:
Homeland Security Grant Program - 2015
Homeland Security Grant Program - 2016
Total Program
Total Federal Agency
20.106
3-12-0037-047-2013
541,257
20.106
3-12-0037-051-2015
260,781
20.106
3-12-0037-052-2016
1,261,613
20.106
3-12-0037-053-2016
3,308,752
20.106
3-12-0044-031-2013
16,312
20.106
3-12-0044-035-2016
84,614
5,473,329
20.205
25222811407/AQN53
106,423
20.205
431918-1/G0326
74,857
20.205
428064-1/AR386
2,467
20.205
4366751
19,437
20.205
435511-1/ARP58
42,092
20.205
436566-1/ARQ41
10,000
20.513 85,496
5,814,101
97.042 17-FG-P9-11-54-01-118 28,505
97.042 18-F G-7A-11-54-01-106 19,308
47,813
11.417 NA14OAR4170108 14,989
97.067 16DS-U7-11-23-02-368 93,412
97.067 17DS-V9-11-23-02-346 47,390
140,802
203,604
The accompanying notes are an integral part of this schedule. (Continued)
J-7
Monroe County, Florida
Schedule of Expenditures of Federal Awards
and State Financial Assistance
For The Year Ended September 30, 2017
Federal/State Agency, Passed Through
Pass -through Entity CFDA to
Federal Program/State Project Number Contract / Grant Number Expenditures Subrecipients
Department of Energy:
Passed through Florida Department of Economic Opportunity:
Weatherization Assistance Program - 2016
Total Federal Agency
Environmental Protection Agency:
FL Keys Waterwatch
Water Quality Monitoring
Total Federal Agency
Department of the Interior: US Fish and Wildlife Services
Passed through Department of Environmental Protection:
Clean Vessel Act Grant Program FY16 (CVA16-786)
Clean Vessel Act Grant Program FY17 (CVA17-818)
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
81.042 16WX-OG-11-54-01-039 76,613
76,613
66.436 OOD41115-1 16,065
66.436 OOD40915-1 88,863
104,928
15.616 MV204 129,502
15.616 MV266 60,000
189,502
14.228 12-DB-05-11-54-01-H15 233,004
233,004
21.000 13,766
13,766 -
$ 28,427,152 $ 119,437
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, 2017
Passed Through
CSFA
to
State Agency
Number
Contract / Grant Number
Expenditures Subrecipients
Florida Division of Emergency Management:
Emergency Management Programs FY16-FY17
31.063
17-BG-83-11-54-01-051
101,887
Emergency Management Programs FY17-FY18
31.063
18-BG-W9-11-54-01-107
20,153
Total Department
122,040
Florida Department of Children and Families:
Community Care for Disabled Adults - FY15-FY18
60.008
KG070
33,654
Total Department
33,654
Florida Department of Elder Affairs:
Passed through The Alliance for Aging:
Home Care for the Elderly - 2016
65.001
KH1672
7,635
Alzheimer's Disease Initiative - 2016
65.004
KZ1697
150,185
Alzheimer's Disease Initiative - 2017
65.004
KZ1797
35,415
Total Program
185,600
Community Care for the Elderly - 2016
65.010
KC1671
301,994
Total Department
495,229
Florida Department of Environmental Protection:
Small County Consolidated Grant
37.012
724SC
90,909
Florida Keys National Marine Sanctuary Support
37.088
S0939
50,000
Statewide Surface Water Restoration and Wastewater Projects:
Statewide Surface Water Restoration and Wastewater Projects
37.039
LP44070
1,250,000
MC Canal 75 Backfill & Canal 48, 59, 79, 80 Augm Aeration
37.039
LP44073
39,442
Total Program
1,289,442
Clean Water State Revolving Fund Loan
37.077
WW440710
25,397,527
Keys -Wide Mobile Vessel Pumpout Service
MV105
375,000
Monroe County Mobile Vessel Pumpout Service
MV267
125,000
Total Program
500,000
Total Department
27,327,878
Florida Department of Health:
EMS County Award
64.005
C4044
29,246
Total Department
29,246
Florida Department of Juvenile Justice:
Intensive Delinquency Diversion Service
80.022
X1718
129,055
Total Department
129,055
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, 2017
Passed Through
CSFA to
State Agency Number Contract / Grant Number Expenditures Subrecipients
Florida Department of State:
State Aid to Libraries - 2016 45.030 16-ST-36 49,156
State Aid to Libraries - 2017 45.030 17-ST-35 62,582
Total Department 111,738
Florida Department of Transportation
Transportation Planning Program 2012
55.023
25222811407/AQN53
17,737
Pigeon Key Ferry Service
55.023
41454515802/ARX57
275,599
Total Program
293,336
Aviation Development Grants:
Key West Airport
55.004
43791919401/G0553
218,180
Key West Airport
55.004
43928519401/GOE77
38,721
Key West Airport
55.004
43866619401/GOE47
97,005
Key West Airport
55.004
43867129401/GOE46 GOE40
33,610
Key West Airport
55.004
43867019401/GOE46
148,841
Key West Airport
55.004
43867719401/GOE45
1,369
Key West & Marathon Airport
55.004
43113379401/AQH10
99,681
Key West & Marathon Airport
55.004
25426929401/AQE35
256,700
Marathon Airport
55.004
42043619401/AQ606
2,290
Marathon Airport
55.004
43113129401/ARK80
2,443,153
Marathon Airport
55.004
43868019401/GOE44
7,521
Marathon Airport
55.004
43868319401/GOE41
16,493
Marathon Airport
55.004
43866419401/GOE76
149,344
Total Program
3,512,908
Small County Outreach Program and Rural Areas of Opportunity
Card Sound Bridge Project
55.009
431917-2/G0320
1,796,118
Garrison Bight Bridge at Palm Ave
55.009
431918-2/GOK65
473,722
Total Program
2,269,840
Total Department
6,076,084
Florida Fish & Wildlife Conservation Commission:
Passed through Department of Environmental Protection
Monroe County Maintenance 2016-2017
13101 - FK142
70,000
Monroe County Maintenance Initial Treatment 2016-2017
13101 - FK 139
70,000
Total Program
140,000
Derelict Vessel Removal Program:
Monroe County Derelict Vessel Removal Project
77.005
16107
105,643
Florida Boating Improvement Program:
Removal of Derelict Vessels & Floating Structures
77.006
16058
86,462
Waterway Marker Replacement
77.006
15085
47,275
Total Program
133,737
Total Department
379,380
Florida Housing Finance Corporation:
State Housing Initiative Partnership Program 2015-2016
40.901
SHIP 13-16 PLAN 3 YR 3
295,472
State Housing Initiative Partnership Program 2016-2017
40.901
SHIP 13-16 PLAN 3 YR 4
40,000
State Housing Initiative Partnership Program 2017-2018
40.901
SHIP 13-16 PLAN 3 YR 5
3,720
Total Department
339,192
Total Expenditures of State Financial Assistance
$
35,043,496 $
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, 2017
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, 2017. 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 other identifying information.
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.
During FY 2017, Monroe County elected not to use the 10-percent de minimis indirect cost rate
as allowed under the Uniform Guidance.
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MONROE COUNTY, FLORIDA
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2017
Part I — Summary of Auditor's Results
Financial Statement Section
Type of report the auditor issued on whether the
financial statements audited were prepared in accordance
with GAAP:
Unmodified
Internal control over financial reporting:
Material weakness(es) identified? _ yes X no
Significant deficiency(ies) identified? _ yes X none reported
Noncompliance material to financial _ yes X no
statements noted?
Federal Awards and State Financial Assistance 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 awards programs and state financial assistance 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 awards programs and state
financial assistance projects:
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MONROE COUNTY, FLORIDA
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2017
Federal Awards Programs:
Name of Program or Cluster CFDA Number
Executive Office of the President
High Intensity Drug Trafficking Areas 95.001
State Financial Assistance Projects:
Name of Program or Cluster CSFA Number
Florida Department of Environmental Protection
Statewide Surface Water Restoration & Wastewater Projects 37.039
Florida Department of Environmental Protection
Clean Water State Revolving Fund Loan 37.077
Dollar threshold used to distinguish between Type A and Type B programs:
Federal
State
$ 852,815
$ 1,051,305
Auditee qualified as low -risk auditee for federal purposes X yes _ no
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MONROE COUNTY, FLORIDA
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2017
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.
There were no findings required to be reported by Government Auditing Standards.
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.
There were no findings required to be reported by 2 CFR 200.516(a).
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.
There were no findings required to be reported by Chapter 10.550, Rules of the Auditor General — Local
Governmental Entity Audits.
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MONROE COUNTY, FLORIDA
SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS
FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2017
Finding 2016-001
Status: Corrected
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Cherry B.Im.
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 fiscal year ended September 30, 2017, and have issued our
report thereon dated March 29, 2018.
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; Uniform Guidance, Audits of States, Local Governments, and
Non -Profit Organizations; and Chapter 10.550, Rules of the Auditor General.
Other Reporting Requirements
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 29, 2018, 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 whether corrective actions have been taken 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 and Management
Sections 10.554(1)(i)5.a. and 10.556(7), Rules of the Auditor General, require us to apply appropriate
procedures and communicate 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 to identify 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 for the County. 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 same.
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Section 10.554(1)(i)2., Rules of the Auditor General, requires that we communicate any recommendations to
improve financial management. Reference to such matters is provided in separate management letters for each
County agency, where applicable.
Annual Financial Report
Section 10.554(1)(i)5.b. and 10.556(7), Rules of the Auditor General, require us to apply appropriate procedures
and communicate the results of our determination as to whether the annual financial report for the County for
the fiscal year ended September 30, 2017, 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, 2017. In connection with our audit, we determined that these two reports were in
agreement.
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.
Additional Matters
Section 10.554(1)(i)3., Rules of the Auditor General, requires us to communicate 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 29, 2018
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Cherry Bekae
r_r.
L; i .
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:
We have examined the Monroe County, Florida's (the "County's") 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, during the year ended September 30, 2017. Management of the County
is responsible for the County's compliance with the specified requirements. Our responsibility is to express an
opinion on the County's compliance with the specified requirements based on our examination.
Our examination was conducted in accordance with attestation standards established by the American Institute
of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain
reasonable assurance about whether the County complied, in all material respects, with the specified
requirements referenced above. An examination involves performing procedures to obtain evidence about
whether the County complied with the specified requirements. The nature, timing and extent of the procedures
selected depend on our judgment, including an assessment of the risks of material noncompliance, whether due
to fraud or error. We believe that the evidence obtained is sufficient and appropriate to provide a reasonable
basis for our opinion.
Our examination does not provide a legal determination on the County's compliance with the specified
requirements.
In our opinion, the County complied, in all material respects, with the local investment policy requirements of
Section 218.415, Florida Statutes, and E911 requirements of Sections 365.172 and 365.173, Florida Statutes,
during the year ended September 30, 2017.
The purpose of this report is to comply with the audit requirements of Sections 218.415, 365.172, and 365.173,
Florida Statutes, and Rules of the Auditor General.
Orlando, Florida
March 29, 2018
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OTHER INFORMATION
MONROE COUNTY, FLORIDA
SCHEDULE OF RECEIPTS AND EXPENDITURES OF
FUNDS RELATED TO THE DEEPWATER HORIZON OIL SPILL
FOR THE YEAR ENDED SEPTEMBER 30, 2017
Amou nt
Amou nt
Received in the
Expended in the
2016-17
2016-17
Source Fiscal Year
Fiscal Year
Environmental Clean Up Consortium:
British Petroleum
Agreement No. 140596 $ 6,506 $
$ 6,506 $
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 2017, the County earned $6,506 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.
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