Fiscal Year 2014
MONROECOUNTY,FLORIDA
BOARDOFCOUNTYCOMMISSIONERS
FINANCIALSTATEMENTS
As of and for the Year Ended September 30, 2014
And Report of Independent Auditor
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Financial Statements
For The Fiscal Year Ended September 30, 2014
TABLE OF CONTENTS
PAGE
Table of ContentsA-1 - A-3
Basic Financial Statements
Report of Independent AuditorB-1 - B-2
Fund Financial Statements:
Balance Sheet - Governmental FundsC-1 - C-2
Statement of Revenues, Expenditures and Changes in Fund Balances -
Governmental FundsC-3 - C-4
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Major Governmental Funds:
General FundC-5 - C-9
Fine and Forfeiture FundC-10 - C-11
Road and Bridge FundC-12
Governmental Grants FundC-13 - C-15
Statement of Net Position - Proprietary FundsC-16 - C-19
Statement of Revenues, Expenses and Changes in Net Position - Proprietary FundsC-20 - C-21
Statement of Cash Flows - Proprietary FundsC-22 - C-25
Statement of Fiduciary Net Position - Fiduciary FundsC-26
Statement of Changes in Fiduciary Net Position - Fiduciary FundsC-27
Notes to the StatementsD-1 - D-37
Required Supplementary Information:
Pension Plan for Volunteer Firefighters and Emergency Medical Services
Schedule of Changes in the Net Pension Liability and Related RatiosE-1
Schedule of Employer ContributionsE-2 - E-3
Schedule of Funding ProgressE-4 - E-5
Combining and Individual Fund Statements and Schedules:
Schedules of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
One Cent Infrastructure Surtax Capital Project Fund F-1
Big Coppitt Wastewater Capital Projects FundF-2
Cudjoe Regional Wastewater Capital Projects FundF-3
All Debt Service FundsF-4
(Continued)
A-1
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Financial Statements
For The Fiscal Year Ended September 30, 2014
TABLE OF CONTENTS - Continued
Combining and Individual Fund Statements and Schedules (Continued):PAGE
Combining Balance Sheet - NonMajor Governmental FundsG-1 - G-10
Combining Statement of Revenues, Expenditures and Changes in Fund Balances -
NonMajor Governmental FundsG-11 - G-20
Schedules of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Special Revenue Funds:
Affordable Housing ProgramsG-21
Tourist Development, All Districts, Two CentG-22
Tourist Development, Administration and Promotional, Two CentG-23
Tourist Development, District #OneG-24
Tourist Development, District #TwoG-25
Tourist Development, District #ThreeG-26
Tourist Development, District #FourG-27
Tourist Development, District #FiveG-28
Impact Fees - RoadwaysG-29
Impact Fees - Parks and RecreationG-30
Impact Fees - LibrariesG-31
Impact Fees - Solid WasteG-32
Impact Fees - Police FacilitiesG-33
Impact Fees - Fire and EMSG-34
Impact Fees - Employee Fair Share HousingG-35
Fire and Ambulance, District #1 - Lower and Middle KeysG-36
Upper Keys Health Care Special Taxing DistrictG-37
Unincorporated Area Service District - Parks and RecreationG-38
Unincorporated Area Service District - Planning, Building & ZoningG-39 - G-40
Municipal PolicingG-41
911 Enhancement FeesG-42
Duck Key Security DistrictG-43
Local Housing AssistanceG-44
Boating ImprovementG-45
Miscellaneous Special RevenueG-46 - G-47
Environmental RestorationG-48
Law Enforcement TrustG-49
(Continued)
A-2
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Financial Statements
For The Fiscal Year Ended September 30, 2014
TABLE OF CONTENTS - Continued
Combining and Individual Fund Statements and Schedules (Continued):PAGE
Court Facility FeesG-50
Drug Abuse TrustG-51
Marathon Municipal Service Taxing UnitG-52
Bay Point Municipal Service Taxing UnitG-53
Big Coppitt Municipal Service Taxing UnitG-54
Key Largo Municipal Service Taxing UnitG-55
Stock Island WastewaterG-56
Cudjoe-Sugarloaf Municipal Service Taxing UnitG-57
Conch Key Municipal Service Taxing UnitG-58
Long Key-Layton Municipal Service Taxing UnitG-59
Duck Key Municipal Service Taxing UnitG-60
Building FundG-61
Combining Statement of Net Position - Internal Service FundsH-1 - H-2
Combining Statement of Revenues, Expenses and Changes in Net Position -
Internal Service FundsH-3 - H-4
Combining Statement of Cash Flows - Internal Service FundsH-5 - H-8
COMPONENT UNIT
Comprehensive Plan Land Authority - Statement of Net PositionI-1
Comprehensive Plan Land Authority - Statement of ActivitiesI-2
OTHER REPORTS
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
J-1 - J-5
Independent Auditors' Management LetterJ-6 - J-12
Report of Independent Accountant on Compliance with Local Government InvestmentJ-13
Policies
A-3
ReportofIndependentAuditor
To the Clerk Ex Officio, Mayor and
Board of County Commissioners of
Monroe County, Florida:
ReportontheFinancialStatements
We have audited the accompanying financial statements of each major fund, the discretely presented
component unit, and the aggregate remaining fund information of the Monroe County, Florida Board of County
Commissioners (the “Board”) as of and for the year ended September 30, 2014, and the related notes to the
financial statements, which collectively comprise the Board’s basic financial statements as listed in the table of
contents.
ağƓğŭĻƒĻƓƷƭResponsibilityfortheFinancialStatements
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.
!ǒķźƷƚƩƭResponsibility
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 Board’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 Board’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 each major fund, the discretely presented component unit, and the aggregate remaining
fund information of the Board as of September 30, 2014, 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, Road & Bridge 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
EmphasisofMatter
As described in Note 1, the financial statements are not intended to be a complete presentation of the financial
position, changes in financial position and cash flows, where applicable, of the Board. Additionally, the financial
statements present only the Board and are not intended to present the financial position and the changes in
financial position and cash flows, where applicable, of Monroe County, Florida, taken as a whole. Our opinions
are not modified with respect to this matter.
OtherMatters
wĻƨǒźƩĻķ{ǒƦƦƌĻƒĻƓƷğƩǤLƓŅƚƩƒğƷźƚƓ
Accounting principles generally accepted in the United States of America require that the Required
Supplementary Information as listed in the table of contents be presented to supplement the financial statements.
Such information, although not a part of the financial statements, is required by the Governmental Accounting
Standards Board, who considers it to be an essential part of financial reporting for placing the 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 financial
statements, and other knowledge we obtained during our audit of the 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.
{ǒƦƦƌĻƒĻƓƷğƩǤğƓķhƷŷĻƩLƓŅƚƩƒğƷźƚƓ
Our audit was conducted for the purpose of forming opinions on the financial statements of the Board taken as a
whole. The combining and individual fund statements and schedules, as listed in the table of contents, is
presented for purposes of additional analysis and is not a required part of the financial statements.
The accompanying combining and individual fund statements and schedules are the responsibility of
management and were derived from and relate directly to the underlying accounting and other records used to
prepare the financial statements. Such information has been subjected to the auditing procedures applied in the
audit of the financial statements and certain additional procedures, including comparing and reconciling such
information directly to the underlying accounting and other records used to prepare the financial statements or to
the financial statements themselves, and other additional procedures in accordance with accounting 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 financial statements as a whole.
OtherReportingRequiredby GovernmentAuditingStandards
In accordance with Government Auditing Standards, we have also issued our report dated March 31, 2015 on our
consideration of the Board’s internal control over financial reporting and 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 the 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 Board’s internal control over financial reporting and compliance.
Orlando, Florida
March 31, 2015
B-2
S
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONER
BALANCE SHEET
GOVERNMENTAL FUNDS
SEPTEMBER 30, 2014
Fine &Road &Governmental
GeneralForfeitureBridgeGrants
Assets
Cash and Cash Equivalents12,097,923$ 4,889,203$ 3,858,368$ 1,320,292$
Investments20,992,960 8,773,807 7,062,526 1,740,417
Accounts Receivable, Net3,622 275,055 - 10
Assessments Receivable- - - -
Due from Other Governmental Units356,134 316,409 575,733 1,177,389
Due from Constitutional Officers5,700,371 1,267,133 - -
Mortgages/Notes Receivable- - - 368,089
Allowance for Mortgages/Notes Receivable- - - (368,089)
Advances to Other Governments- - - -
Interest Receivable40,805 17,054 13,728 3,383
Inventory -4,048 - -
Total Assets39,195,863$ 15,538,661$ 11,510,355$ 4,241,491$
Liabilities, Deferred Inflows of
Resources and Fund Balances
Liabilities:
Accounts Payable905,183$ 128,312$ 135,425$ 384,367$
Retainage Payable- - - 66,756
Accrued Wages and Benefits Payable1,861,455 34,914 36,307 13,878
Due to Other Governmental Units877,809 - 48,284 198,359
Due to Constitutional Officers1,558 7,091 - 96,950
Unearned Revenues13,730 - - -
Other Current Liabilities3,313 - - -
Deposits in Escrow -5,450 - -
Total Liabilities3,668,498 170,317 220,016 760,310
Deferred Inflows of Resources:
Advances from Other Governments
-- - 37,580
Unavailable Revenues
18,937- - 581,751
Total Deferred Inflows of Resources 18,937- - 619,331
Fund Balances:
Nonspendable4,048 - - -
Restricted116,890 15,349,407 11,290,339 2,861,850
Committed10,000,000 - - -
Assigned13,438,606 - - -
Unassigned11,967,821 - - -
Total Fund Balances35,527,365 15,349,407 11,290,339 2,861,850
Total Liabilities, Deferred Inflows of
Resources and Fund Balances39,195,863$ 15,538,661$ 11,510,355$ 4,241,491$
The notes to the financial statements are an integral part of these statements.
C-1
One CentBig CoppittCudjoe RegionalNonmajorTotal
InfrastructureWastewaterWastewaterAllGovernmentalGovernmental
SurtaxProjectProjectDebt ServiceFundsFunds
$ 972,1285,655,436$ 1,450,759$ 750,403$ 22,257,169$ 53,251,681$
1,893,92311,025,634 2,826,972 1,450,159 41,638,433 97,404,831
-- - - 73,872 352,559
3,190,731- - - 1,001,608 4,192,339
-1,547,603 - - 526,757 4,500,025
878- 2,336 - 5,033,151 12,003,869
-- - - 8,667,291 9,035,380
-- - - (8,667,291) (9,035,380)
-- 12,454,430 - 150,659 12,605,089
3,68121,431 5,495 2,819 80,981 189,377
-- - - - 4,048
$ 6,061,34118,250,104$ 16,739,992$ 2,203,381$ 70,762,630$ 184,503,818$
$ -742,058$ -$ -$ 2,934,331$ 5,229,676$
-17,768 - - 262,508 347,032
-10,544 1,813 - 400,130 2,359,041
-5 - - 198,000 1,322,457
-- - - 78,164 183,763
-- 8,925,911 - - 8,939,641
-- - - - 3,313
-- - - 57,961 63,411
-770,375 8,927,724 - 3,931,094 18,448,334
-- - - 30,271 67,851
3,135,701- - - 984,263 4,720,652
3,135,701- - - 1,014,534 4,788,503
-- - - - 4,048
2,925,64017,479,729 7,812,268 2,203,381 57,546,472 117,585,976
-- - - 2,117,875 12,117,875
-- - - 6,152,655 19,591,261
-- - - - 11,967,821
2,925,64017,479,729 7,812,268 2,203,381 65,817,002 161,266,981
$ 6,061,34118,250,104$ 16,739,992$ 2,203,381$ 70,762,630$ 184,503,818$
C-2
S
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONER
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Fine &Road &Governmental
GeneralForfeitureBridgeGrants
Revenues:
Taxes22,257,721$ 39,366,872$ 2,352,206$ -$
Licenses and Permits- - - -
Intergovernmental8,294,669 78,715 3,369,867 5,684,674
Charges for Services779,960 4,142,077 61,485
Fines and Forfeitures12,427 84,438 - -
Investment Income83,133 85,036 27,063 3,410
Miscellaneous 2,150548,673 22,195 40,598
Total Revenues31,976,583 43,759,288 5,832,816 5,728,682
Expenditures:
Current:
General Government26,503,860 471,116 - -
y 47,222,1921,256,127 - 808,368
Public Safet
t -175,748 - 221,908
Physical Environmen
Transportation108,263 - 4,190,019 1,463,304
t -596,303 - 1,272,486
Economic Environmen
Human Services6,559,668 - - 1,806,903
Culture and Recreation2,925,667 - - 88,648
Court Related3,158,183 1,753,793 - -
Capital Projects- - - -
Debt Service- - - -
Total Expenditures41,283,819 49,447,101 4,190,019 5,661,617
Excess/Deficiency of Revenues
Over/(Under) Expenditures(9,307,236) (5,687,813) 1,642,797 67,065
Other Financing Sources/(Uses):
Transfers from Other Funds4,895,164 1,606,043 29,728 406,325
Transfers to Other Funds(348,348) (13,795) (513,596)
Debt Proceeds- - - -
Transfers from Constitutional Officers4,640,459 1,235,892 - -
Total Other Financing Sources/(Uses)9,187,275 2,828,140 (483,868) 406,325
Net Change in Fund Balances (2,859,673)(119,961) 1,158,929 473,390
Fund Balances-October 1 18,209,08035,647,326 10,131,410 2,388,460
ptember 30$ 15,349,40735,527,365$ 11,290,339$ 2,861,850$
Fund Balances-Se
The notes to the financial statements are an integral part of these statements.
C-3
One CentBig CoppittCudjoe RegionalNonmajorTotal
InfrastructureWastewaterWastewaterAllGovernmentalGovernmental
SurtaxProjectProjectDebt ServiceFundsFunds
$ 81518,653,970$ 467$ -$ 47,546,515$ 130,178,566$
397,994- - - 3,962,823 4,360,817
-149,308 25,290,595 - 6,084,025 48,951,853
-- - - 7,180,900 12,164,422
-- - - 1,179,497 1,276,362
128,61728,028 842,137 7,986 218,665 1,424,075
41,123701,719 161,893 - 153,851 1,672,202
568,54919,533,025 26,295,092 7,986 66,326,276 200,028,297
-- - - 2,875,716 29,850,692
-- - - 22,767,163 72,053,850
-- - - 1,523,268 1,920,924
-- - - 2,440,759 8,202,345
-- - - 28,458,900 30,327,689
-- - - 365,643 8,732,214
- - - 1,479,155 4,493,470
-
-- - - 397,761 5,309,737
43,2538,440,195 57,845,540 - 1,249,752 67,578,740
-- - 6,181,008 - 6,181,008
43,2538,440,195 57,845,540 6,181,008 61,558,117 234,650,669
525,29611,092,830 (31,550,448) (6,173,022) 4,768,159 (34,622,372)
-713,401 - 5,750,271 190,354 13,591,286
(681,938)(5,520,878) - - (5,385,083) (12,463,638)
-- 27,412,932 - - 27,412,932
878- 2,336 - 1,142,394 7,021,959
(681,060)(4,807,477) 27,415,268 5,750,271 (4,052,335) 35,562,539
(155,764)6,285,353 (4,135,180) (422,751) 715,824 940,167
3,081,40411,194,376 11,947,448 2,626,132 65,101,178 160,326,814
$ 2,925,64017,479,729$ 7,812,268$ 2,203,381$ 65,817,002$ 161,266,981$
C-4
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
4
FOR THE YEAR ENDED SEPTEMBER 30, 201
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes22,509,873$ 22,509,873$ 22,257,721$ (252,152)$
Intergovernmental7,862,969 7,862,969 8,294,669 431,700
Charges for Services829,800 830,662 779,960 (50,702)
Fines and Forfeitures13,000 13,000 12,427 (573)
Investment Income98,400 98,400 83,133 (15,267)
Miscellaneous515,600 597,412 548,673 (48,739)
Total Revenues31,829,642 31,912,316 31,976,583 64,267
EXPENDITURES:
Current:
General Government:
Board of County Commissioners Admin1,699,075 1,699,075 1,616,191 82,884
Clerk to BOCC-Financial Package5,000 5,000 - 5,000
Gov't Enterprise Management System100,000 100,000 25,107 74,893
Clerk Comm & Fees-TDC159,495 159,495 159,495 -
Clerk Comm & Fees-Noncourt2,721,874 2,721,874 2,650,296 71,578
Insurances-Supervisor of Elections116,362 116,362 98,641 17,721
Promotional Advertising5,000 5,000 2,185 2,815
Value Adjustment Board35,000 35,000 29,185 5,815
Tax Increment Payment300,000 300,000 226,291 73,709
Employee Suggestion Plan10,000 10,000 - 10,000
Firm Study- 30,000 - 30,000
Lobbyist126,000 126,000 57,000 69,000
County Administrator1,176,203 1,179,203 1,043,214 135,989
Technical Services1,694,086 1,694,086 1,606,501 87,585
Technology 476,320 476,320 447,130 29,190
Grants Administration113,532 113,532 109,895 3,637
Office of Management & Budget476,066 476,066 406,181 69,885
Purchasing220,091 220,091 205,503 14,588
Personnel364,340 364,340 362,431 1,909
Public Works Management128,435 134,592 131,968 2,624
Public Works Facilities Maintenance6,594,208 6,541,051 6,247,904 293,147
ADA Compliance10,000 10,000 10,000 -
County Attorney1,488,112 1,488,112 1,161,924 326,188
Tax Collector4,454,128 4,454,128 4,319,901 134,227
Property Appraiser3,615,465 3,915,465 3,729,654 185,811
Supervisor of Elections1,744,383 1,744,383 1,744,383 -
Quasi External Services125,000 125,000 112,880 12,120
Total General Government27,958,175 28,244,175 26,503,860 1,740,315
(Continued)
The notes to the financial statements are an integral part of these statements.
C-5
S
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONER
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL - CONTINUED
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
Public Safety:
Hurricane300,000 300,000 - 300,000
Emergency Management221,740 206,518 194,713 11,805
Marathon Emer Operations Center70,210 58,210 27,218 30,992
Medical Examiner685,346 685,346 662,030 23,316
American Red Cross Lower Keys15,000 15,000 15,000 -
Fire Academy429,661 429,661 357,166 72,495
Total Public Safety1,721,957 1,694,735 1,256,127 438,608
Physical Environment:
Extension Service189,427 189,427 175,748 13,679
Transportation:
County Engineer304,500 250,500 108,263 142,237
Economic Environment:
Literacy Volunteers of America10,000 10,000 10,000 -
Veteran's Affairs468,747 461,997 453,575 8,422
Veteran's Affairs Transportation130,088 136,838 132,728 4,110
Total Economic Environment608,835 608,835 596,303 12,532
Human Services:
Middle Keys Guidance Clinic41,151 41,151 41,151 -
Older Americans Volunteer Program500 500 128 372
Helpline10,000 10,000 - 10,000
Domestic Abuse Shelter30,000 30,000 29,998 2
Hospice of the Florida Keys141,000 141,000 141,000 -
Florida Keys Outreach Coalition43,000 43,000 43,000 -
Samuel's House90,000 90,000 89,982 18
Womankind93,600 93,600 93,600 -
Grace Jones40,000 40,000 39,656 344
AIDS Help30,000 30,000 30,000 -
Good Health Clinic60,000 60,000 60,000 -
Monroe Cty Assn for Retarded Citizens 155,000155,000 155,000 -
Heron/ Peacock35,000 35,000 34,634 366
Florida Keys Children's Shelter159,000 159,000 159,000 -
Wesley House157,000 157,000 157,000 -
Florida Keys Area45,000 45,000 45,000 -
Rural Health Network300,000 300,000 300,000 -
(Continued)
The notes to the financial statements are an integral part of these statements.
C-6
S
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONER
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL - CONTINUED
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
FL Keys Healthy Start Coalition30,000 30,000 30,000 -
Keys Area Interdenominational Resources 25,00025,000 25,000 -
Star of the Sea Foundation55,000 55,000 55,000 -
Independence Cay25,000 25,000 25,000 -
Be the Change of the FL Keys40,000 40,000 40,000 -
Anchors Aweigh5,000 5,000 5,000 -
Burton Memorial UMC5,000 5,000 5,000 -
A Positive Step of MC20,000 20,000 17,010 2,990
Baker Act LKMC FS 394.46383,334 83,334 83,333 1
GCC Baker Act Transp146,000 146,000 146,000 -
GCC SamH FS 394.76657,066 657,066 657,066 -
GCC Jail Inhouse Program107,363 107,363 107,363 -
Health Department Lease66,000 66,000 38,500 27,500
Historic Fl Keys Foundation28,500 28,500 28,500 -
Health Department ILA226,640 226,640 77,358 149,282
Animal Shelters990,784 1,091,784 1,091,557 227
Welfare Administration569,414 477,027 444,959 32,068
Welfare Services897,266 851,410 708,712 142,698
Health Care Respite Act40,000 40,000 976 39,024
Bayshore Manor736,830 727,830 681,018 46,812
Social Service Transportation856,112 899,112 873,167 25,945
Total Human Services7,040,560 7,037,317 6,559,668 477,649
Culture and Recreation:
Fine Arts Council72,500 72,500 63,000 9,500
Lower Keys AARP4,500 4,500 4,324 176
Middle Keys AARP4,500 4,500 2,143 2,357
Big Pine Key AARP4,500 4,500 2,994 1,506
Upper Keys AARP4,500 4,500 187 4,313
Boys and Girls Club99,000 99,000 99,000 -
Heart of the Keys Recreation35,000 35,000 35,000 -
Higgs Beach Maintenance95,500 95,500 93,681 1,819
Library Admin Support717,321 697,321 651,535 45,786
Library Key West739,627 739,627 649,659 89,968
Library Key West Donations1,000 120,544 30,976 89,568
Library Marathon337,887 337,887 292,460 45,427
Library Marathon Donations500 11,289 755 10,534
Library Islamorada297,624 297,624 267,322 30,302
Library Islamorada Donations250 1,735 146 1,589
(Continued)
The notes to the financial statements are an integral part of these statements.
C-7
S
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONER
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL - CONTINUED
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
Library Key Largo403,140 407,140 384,771 22,369
Library Key Largo Donations500 2,705 - 2,705
Library Big Pine Key345,214 361,194 347,207 13,987
Library Big Pine Key Donations500 10,391 507 9,884
Total Culture and Recreation3,163,563 3,307,457 2,925,667 381,790
Court Related:
Law Library67,735 69,335 68,220 1,115
Guardian Ad Litem198,377 198,377 137,381 60,996
Clerk of the Court - General Mgt13,671 13,671 15,141 (1,470)
Clerk of the Court - Jury Management12,667 12,667 14,250 (1,583)
Clerk Records Management41,905 41,905 46,356 (4,451)
Clerk of the Circuit Court - Criminal118,430 118,430 133,088 (14,658)
Clerk of the Circuit Court - Civil86,863 86,863 97,909 (11,046)
Clerk of the Circuit Court - Family22,236 22,236 25,056 (2,820)
Clerk of the Circuit Court - Juvenile14,438 14,438 16,071 (1,633)
Clerk of the Circuit Court - Probate16,361 16,361 18,451 (2,090)
Clerk County Court - Criminal101,182 101,182 113,861 (12,679)
Clerk County Court - Civil38,696 38,696 43,458 (4,762)
Clerk County Court - Traffic112,114 112,114 126,500 (14,386)
State Attorney326,000 326,000 214,317 111,683
Public Defender578,557 578,557 555,611 22,946
Court Administration4,300 4,300 1,302 2,998
Court Admin-Judicial Support177,323 177,323 163,438 13,885
Ct. Admin-Other Circuit Court Juvenile46,399 46,399 45,728 671
Court Admin-Family Ct Case Mgmt153,883 153,883 152,500 1,383
Court Admin-Circuit Ct Reporter Svcs1,675 1,675 1,435 240
Court Admin-Circuit Drug Court386,188 386,188 379,871 6,317
Court Admin-Pretrial Release472,399 472,399 463,966 8,433
Ct. Admin-Pretrial Svcs Drug Diversion 160,888160,888 155,426 5,462
Court Admin-Information Systems174,762 174,762 168,847 5,915
Total Court Related3,327,049 3,328,649 3,158,183 170,466
Total Expenditures44,314,066 44,661,095 41,283,819 3,377,276
Excess/Deficiency of Revenues
Over/(Under) Expenditures(12,484,424) (12,748,779) (9,307,236) 3,441,543
(Continued)
The notes to the financial statements are an integral part of these statements.
C-8
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL - CONTINUED
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
Other Financing Sources/(Uses):
Reserve for Contingencies(863,467) (331,784) - 331,784
Reserve for Cash Balance(9,300,810) (9,300,810) - 9,300,810
Transfers from Other Funds4,868,881 4,868,881 4,895,164 26,283
Transfers to Other Funds(250,000) (517,328) (348,348) 168,980
Transfers from Constitutional Officers4,000,000 4,000,000 4,640,459 640,459
Total Other Financing Sources/(Uses)(1,545,396) (1,281,041) 9,187,275 10,468,316
Net Change in Fund Balances(14,029,820)(14,029,820)(119,961) 13,909,859
Fund Balances, October 1 14,029,82014,029,820 35,647,326 21,617,506
Fund Balances, September 30$ --$ 35,527,365$ 35,527,365$
The notes to the financial statements are an integral part of these statements.
C-9
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
FINE AND FORFEITURE SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes40,864,992$ 40,864,992$ 39,366,872$ (1,498,120)$
Intergovernmental- - 78,715 78,715
Charges for Services3,587,000 3,587,000 4,142,077 555,077
Fines and Forfeitures85,250 85,250 84,438 (812)
Investment Income93,500 90,500 85,036 (5,464)
Miscellaneous- 845,219 2,150 (843,069)
Total Revenues44,630,742 45,472,961 43,759,288 (1,713,673)
EXPENDITURES:
Current:
General Government:
Tax Increment Payment550,000 550,000 471,116 78,884
Public Safety:
Sheriff Law Enforcement19,960,894 22,559,593 21,598,518 961,075
Sheriff Corrections 20,909,840 20,884,840 20,674,675 210,165
Bond Refunds25,000 25,000 160 24,840
LEEA Funds75,000 75,000 75,000 -
Correction Facilities2,334,577 2,334,577 1,636,463 698,114
Medical Air Transport2,745,603 2,724,876 2,624,825 100,051
Interagency Communications382,476 382,476 367,356 15,120
Juvenile Detention Cost Share408,629 303,919 245,195 58,724
Total Public Safety46,842,019 49,290,281 47,222,192 2,068,089
Court Related:
Sheriff Extradition50,000 50,000 25,486 24,514
1,754,959 1,728,307 26,652
Sheriff Court Security1,754,959
Total Court Related1,804,959 1,804,959 1,753,793 51,166
Total Expenditures49,196,978 51,645,240 49,447,101 2,198,139
Excess/Deficiency of Revenues
Over/(Under) Expenditures(4,566,236) (6,172,279) (5,687,813) 484,466
(Continued)
The notes to the financial statements are an integral part of these statements.
C-10
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
FINE AND FORFEITURE SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL - CONTINUED
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
Other Financing Sources/(Uses):
Reserve for Contingencies(1,443,181) (1,443,181) - 1,443,181
Reserve for Cash Balance(6,772,102) (6,772,102) - 6,772,102
Transfers to Other Funds(16,667) (16,667) (13,795) 2,872
Transfers from Other Funds- 1,606,043 1,606,043 -
Transfers from Constitutional Officers- 1,500,000 1,235,892 (264,108)
Total Other Financing Sources/(Uses)(8,231,950) (5,125,907) 2,828,140 7,954,047
Net Change in Fund Balances (12,798,186)(11,298,186)(2,859,673) 8,438,513
Fund Balances, October 1 11,298,18612,798,186 18,209,080 6,910,894
$ -$ 15,349,407$ 15,349,407$
Fund Balances, September 30-
The notes to the financial statements are an integral part of these statements.
C-11
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
ROAD AND BRIDGE SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
Revenues:
Taxes2,050,000$ 2,050,000$ 2,352,206$ 302,206$
Intergovernmental3,389,999 3,389,999 3,369,867 (20,132)
Charges for Services56,500 56,500 61,485 4,985
Investment Income64,528 64,528 27,063 (37,465)
Miscellaneous- 22,195 22,195
Total Revenues5,561,027 5,561,027 5,832,816 271,789
Expenditures:
Current:
Transportation:
Road Department3,168,092 3,134,780 2,786,055 348,725
County Engineer Road and Bridge319,707 319,707 258,454 61,253
Paving Evaluation and Management95,895 193,636 97,120 96,516
Street Lighting243,826 243,826 217,684 26,142
Local Option Gas Tax Projects377,583 377,583 297,029 80,554
80% Gas Tax612,590 612,590 219,629 392,961
Cudjoe Regional Paving1,000,000 1,000,000 - 1,000,000
Bridge Inventory Management- 191,150 187,122 4,028
No Name Key Bridge Emerg Repair- 136,926 126,926 10,000
Total Transportation5,817,693 6,210,198 4,190,019 2,020,179
Excess/Deficiency of Revenues
Over/(Under) Expenditures(256,666) (649,171) 1,642,797 2,291,968
Other Financing Sources/(Uses):
Reserve for Contingencies(1,041,286) (648,781) - 648,781
- 2,104,520
Reserve for Cash Balance(2,104,520) (2,104,520)
Transfers from Other Funds- 29,728 29,728 -
Transfers to Other Funds(1,559,104) (1,559,104) (513,596) 1,045,508
Total Other Financing Sources/(Uses)(4,704,910) (4,282,677) (483,868) 3,798,809
Net Change in Fund Balances (4,931,848)(4,961,576) 1,158,929 6,090,777
Fund Balances, October 1 4,931,8484,961,576 10,131,410 5,199,562
Fund Balances, September 30$ --$ 11,290,339$ 11,290,339$
The notes to the financial statements are an integral part of these statements.
C-12
S
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONER
GOVERNMENTAL GRANTS SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
Revenues:
Intergovernmental-$ 49,021,626$ 5,684,674$ (43,336,952)$
Investment Income- 3,410 3,410
Miscellaneous- 53,427 40,598 (12,829)
Total Revenues- 49,075,053 5,728,682 (43,346,371)
Expenditures:
Current:
Public Safety:
Emergency Management Base Grant- 207,891 104,857 103,034
Federal Emergency Base Grant- 55,625 28,757 26,868
Federal Emergency Base Grant- 66,349 37,083 29,266
Radiological Emerg Preparedness- 147,232 122,964 24,268
EMS Award Grant- 125,181 87,913 37,268
SHSGP 11DS-40-11-54-01- 14,500 - 14,500
SHSGP 12DS-20-12-54-01- 90 - 90
SHSGP 12SS-00-10-9S-01- 1,105 1,105 -
SHSGP 14DS-15-11-54-01- 18,815 - 18,815
MCSO/Emg Mgmt UASI 11 Grant- 118,158 118,158 -
MCSO/Emg Mgmt UASI 12 Grant- 196,925 196,295 630
MCSO/Emg Mgmt UASI 13 Grant- 96,925 96,925 -
DOJ DC Medical Director Initiative- 12,096 6,803 5,293
FKOC Sa Ed & Relap Prev7,508 7,508 -
Total Public Safety- 1,068,400 808,368 260,032
Physical Environment:
Canal Demonstration- 100,000 99,814 186
IE Plant Removal Crew FK116- 75,291 72,094 3,197
IE Plant Removal Crew FK119- 50,000 50,000 -
Total Physical Environment- 225,291 221,908 3,383
Transportation:
Old SR940 Leg A Bridge Repair- 545,510 499,476 46,034
No Name Key Brdg #904320- 6,358,736 3,792 6,354,944
Card Sound Bridge Repair- 513,186 320,941 192,245
Tom's Harbor Channel Bridge- 59,310 600 58,710
FDOT Transit Buses- 137,824 125,253 12,571
Transp Planning Prog 2012- 445,970 242,590 203,380
Pigeon Key Ferry Service- 405,480 230,616 174,864
LAP Wayfinding Signage- 1,098,031 1,098,031
(Continued)
The notes to the financial statements are an integral part of these statements.
C-13
S
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONER
GOVERNMENTAL GRANTS SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL - CONTINUED
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
US 1 Bayside Shared Use- 2,106,042 39,700 2,066,342
Lower Keys Scenic View Area- 100,000 - 100,000
Scenic Highway Overlooks- 1,230,000 336 1,229,664
Total Transportation- 13,000,089 1,463,304 11,536,785
Economic Environment:
Disaster Recovery CDBG- 1,016,690 863,153 153,537
Small Cities CDBG 2010- 600,192 50,380 549,812
CBDG DR 2008 DREF- 580,719 358,953 221,766
Go Solar Program- 150,000 - 150,000
Total Economic Environment- 2,347,601 1,272,486 1,075,115
Human Services:
Residential Substance Abuse Treatment- 66,667 55,177 11,490
Drug Court Pgm Urin Lab- 3,847 3,847 -
DCF#LHZ237 CJMHSA RA GRN- 306,191 120,618 185,573
H/P Res: Prevention of Mental Illness- 18,780 18,780 -
Be The Change-Viol & Subst Abuse- 28,543 28,543 -
GCC Male Jail inhouse Program- 28,544 27,622 922
Title IIIB Supportive Services - 2013- 33,575 10,139 23,436
Title IIIB Supportive Services - 2014- 18,456 18,456 -
Title IIIC1 Congregate Meals - 2013- 51,284 41,726 9,558
Title IIIC1 Congregate Meals - 2014- 151,316 132,891 18,425
Title IIIC2 Home Delivered Meals-2013- 97,667 61,558 36,109
Title IIIC2 Home Delivered Meals-2014- 237,896 178,468 59,428
Title III-E Caregiver Support Svc-2013- 14,134 13,575 559
Title III-E Caregiver Support Svc-2014- 64,246 52,828 11,418
Low Income Home Energy Prog- 125,343 124,448 895
Low Income Home Energy Prog- 203,466 167,703 35,763
Alzheimer's Disease Initiative 12/13- 76,898 66,551 10,347
Alzheimer's Disease Initiative 13/14- 62,934 12,941 49,993
Community Care Disabled Adults - 139,166 85,825 53,341
Community Care for the Elderly 12/13- 349,246 338,525 10,721
Community Care for the Elderly 13/14- 334,271 86,408 247,863
Home Care for the Elderly 12/13- 18,557 16,584 1,973
Home Care for the Elderly 13/14- 13,963 5,216 8,747
ESG KPZ06 13/14- 63,456 57,242 6,214
ESG KPZ06 14/15- 153,196 39,660 113,536
ARRA Weatherization Asst Program- 1,149 1,149 -
(Continued)
The notes to the financial statements are an integral part of these statements.
C-14
S
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONER
GOVERNMENTAL GRANTS SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL - CONTINUED
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
SAFF - 2,151 2,151 -
SHIP to WAP- 35,000 - 35,000
Weather Asst Prgm- 31,103 31,103 -
Weather Asst Prgm- 11,819 7,169 4,650
Total Human Services- 2,742,864 1,806,903 935,961
Culture and Recreation:
State Aid to Libraries- 118,039 88,648 29,391
Total Culture and Recreation- 118,039 88,648 29,391
Total Expenditures- 19,502,284 5,661,617 13,840,667
Excess/Deficiency of Revenues
Over/(Under) Expenditures- 29,572,769 67,065 (29,505,704)
Other Financing Sources/(Uses):
Transfers from Other Funds- 2,446,222 406,325 (2,039,897)
Transfers to Other Funds- (32,018,991) - 32,018,991
Total Other Financing Sources/(Uses)- (29,572,769) 406,325 29,979,094
Net Change in Fund Balances -- 473,390 473,390
Fund Balances, October 1 -- 2,388,460 2,388,460
$ -$ 2,861,850$ 2,861,850$
Fund Balances, September 30-
The notes to the financial statements are an integral part of these statements.
C-15
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
SEPTEMBER 30, 2014
Business-type Activities Enterprise Funds
Major Funds
MunicipalCardKey
Svc DistrictSoundWest
WasteBridgeAirport
ASSETS
Current Assets:
Cash and Cash Equivalents4,344,995$ 2,216,142$ 2,849,248$
Investments8,464,334 4,317,862 681,548
Accounts Receivable, Net458,545 - 791,710
Due from Other Governmental Units98,949 - 1,170,211
Due from Constitutional Officers3,737 - 70,626
Interest Receivable16,453 8,393 1,325
Total Current Assets13,387,013 6,542,397 5,564,668
Noncurrent Assets:
Restricted Cash and Cash Equivalents1,726,667 - 4,180,595
Restricted Accounts Receivable- - 150,803
Land and Other Nondepreciable Assets3,786,970 50,000 1,634,878
Capital Assets, Net of Accum. Depreciation202,484 7,815,557 58,253,828
Total Noncurrent Assets5,716,121 7,865,557 64,220,104
Total Assets19,103,134 14,407,954 69,784,772
LIABILITIES
Current Liabilities:
Accounts Payable1,556,981 2,723 716,344
Retainage Payable15,305 - 41,856
Accrued Wages and Benefits Payable37,517 15,515 45,390
Claims and Judgements Payable- - -
Due to Other Governmental Units31,953 - 15,942
Due to Constitutional Officers- 1,249 -
Accrued Comp. Absences Payable29,285 5,409 76,884
Capital Leases Payable50,000 - -
Unearned Revenues 21,404
Deposits in Escrow49,115 - 8,000
Total Current Liabilities1,770,156 24,896 925,820
The notes to the financial statements are an integral part of these statements.
C-16
Governmental
Major FundsActivities
Internal
MarathonService
AirportTotalFunds
$ 9,969,601559,216$ 9,474,500$
14,553,2201,089,476 18,441,483
1,291,38341,128 8,843
1,381,262112,102 31,190
74,363- 198,516
28,2892,118 35,847
27,298,1181,804,040 28,190,379
6,047,317140,055 -
150,803- -
6,557,3891,085,541 54,000
75,727,1599,455,290 923,160
88,482,66810,680,886 977,160
115,780,78612,484,926 29,167,539
2,285,4839,435 2,011,538
57,161- -
107,5139,091 35,341
2,448,156-
50,1052,210 6
1,249- -
119,6658,087 42,363
50,000- -
40,29118,887 -
63,4216,306 -
2,774,88854,016 4,537,404
(Continued)
C-17
S
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONER
STATEMENT OF NET POSITION - CONTINUED
PROPRIETARY FUNDS
SEPTEMBER 30, 2014
Business-type Activities Enterprise Funds
Major Funds
MunicipalCardKey
Svc DistrictSoundWest
WasteBridgeAirport
Noncurrent Liabilities:
Payable from restricted assets-Landfill171,563 - -
closure/post closure costs
Accrued Comp. Absences Payable81,360 61,780 126,413
Claims & Judgements Payable129,632 - -
Capital Leases Payable417,270 - -
OPEB Liability536,783 292,413 543,424
Total Noncurrent Liabilities1,336,608 354,193 669,837
Total Liabilities3,106,764 379,089 1,595,657
NET POSITION
Net investment in capital assets3,522,184 7,865,557 59,888,706
Restricted for:
Passenger Facility Charges- - 4,331,398
Landfill1,726,667 - -
Customs Service Operations-
Unrestricted10,747,519 6,163,308 3,969,011
Total Net Position
$ 14,028,86515,996,370$ 68,189,115$
The notes to the financial statements are an integral part of these statements.
C-18
Governmental
Major FundsActivities
Internal
MarathonService
AirportTotalFunds
171,563- -
284,23814,685 109,039
129,632- -
417,270- -
1,703,251330,631 785,771
2,705,954345,316 894,810
5,480,842399,332 5,432,214
81,817,27810,540,831 977,160
4,331,398- -
1,726,667- -
140,055140,055
22,284,5461,404,708 22,758,165
$ 110,299,94412,085,594$ 23,735,325$
C-19
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN NET POSITION
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Business-type Activities Enterprise Funds
Major Funds
MunicipalCardKey
Svc DistrictSoundWest
WasteBridgeAirport
Operating Revenues:
Franchise Fees527,233$ -$ -$
Charges for Services17,451,365 994,032 6,874,374
Fines and Forfeitures- - 531
Miscellaneous4,235 - 7,431
Total Operating Revenues17,982,833 994,032 6,882,336
Operating Expenses:
Personnel Services1,118,406 779,434 2,031,148
Operations15,959,441 177,424 5,051,891
Depreciation and Amortization51,336 388,080 2,224,514
Asserted and Paid Claims- - -
Total Operating Expenses17,129,183 1,344,938 9,307,553
Operating Income/(Loss)853,650 (350,906) (2,425,217)
Nonoperating Revenues/(Expenses):
Operating Grants90,909 - 776,014
Grants and Donations - Other Sources50,000 - -
Other Income - PFC- - 1,380,856
Investment Income39,202 16,190 8,067
Insurance Recoveries- - -
Loss on Abandonment- - -
Gain (Loss) on Disposition of Assets3,206 - 2,714
Total Non-Operating
Revenues/(Expenses)183,317 16,190 2,167,651
Income/(Loss) Before
Contributions and Transfers1,036,967 (334,716) (257,566)
Transfers from Other Funds- - -
Transfers to Other Funds(215,407) (195,499) (703,305)
Transfers from Constitutional Officers3,737 - -
Capital Grants and Contributions- - 1,034,985
Change in Net Position (530,215)825,297 74,114
Total Net Position-October 1 14,559,08015,171,073 68,115,001
Total Net Position-September 30$ 14,028,86515,996,370$ 68,189,115$
The notes to the financial statements are an integral part of these statements.
C-20
Governmental
Major FundsActivities
Internal
MarathonService
AirportTotalFunds
$ 527,233-$ -$
26,149,124829,353 19,232,527
531- -
11,955289 32,476
26,688,843829,642 19,265,003
4,359,113430,125 1,721,452
21,603,161414,405 4,781,154
3,303,667639,737 70,476
-- 14,516,322
29,265,9411,484,267 21,089,404
(2,577,098)(654,625) (1,824,401)
974,676107,753 -
190,000140,000 -
1,380,856- -
65,6372,178 71,379
-- 223,611
(500,049)(500,049) -
6,331411 5,692
2,117,451(249,707) 300,682
(459,647)(904,332) (1,523,719)
703,305703,305 -
(1,114,211)- (716,742)
3,737- -
1,089,45054,465 -
222,634(146,562) (2,240,461)
110,077,31012,232,156 25,975,786
$ 110,299,94412,085,594$ 23,735,325$
C-21
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Business-type Activities Enterprise Funds
Major Funds
MunicipalCardKey
Svc DistrictSoundWest
WasteBridgeAirport
Operating Activities:
Cash received for services17,905,217$ 996,805$ 6,908,123$
Cash rec'vd from other funds for goods and svcs- - -
Cash received from insurance recoveries- - -
Cash received from others-PFC- - 1,444,402
Cash payments to suppliers for goods and svcs(15,499,818) (78,552) (4,935,965)
Cash payments for employee services(929,366) (654,414) (1,752,885)
Cash payments to other funds(300,988) (232,082) (253,623)
Cash payments for claims- - -
Other operating revenue4,235 - 1,378
Net Cash Provided by/(Used in)
Operating Activities1,179,280 31,757 1,411,430
NoncapitalFinancingActivities:
Operating grants received90,909 - 296,927
Transfers from other funds- - -
Transfers to other funds(215,407) (195,499) (703,305)
Transfers from Constitutional Officers3,737 - -
Restricted contributions received- - -
Net Cash Provided/(Used) by Noncapital
Financing Activities(120,761) (195,499) (406,378)
Capital andRelatedFinancingActivities:
Proceeds from capital grants- - 1,476,743
Acquisition of capital assets(70,144) (5,806) (1,945,200)
Proceeds from sale of capital assets3,000 - -
Net Cash Provided/(Used) by Capital and
Related Financing Activities(67,144) (5,806) (468,457)
InvestingActivities:
Investment income110,566 55,721 18,182
Proceeds from sales and maturities of investments 4,371,4707,215,527 1,546,050
Purchase of investment securities(6,922,687) (3,729,457) (834,118)
Net Cash Provided/(Used) in Investing Activities 697,734403,406 730,114
Net Increase in Cash and
Cash Equivalents 528,1861,394,781 1,266,709
Cash and Cash Equivalents:
October 14,676,881 1,687,956 5,763,134
September 306,071,662$ 2,216,142$ 7,029,843$
The notes to the financial statements are an integral part of these statements.
C-22
Governmental
Major FundsActivities
Internal
MarathonService
AirportTotalFunds
$ 26,633,606823,461$ 17,635,745$
-- 1,901,431
-- 929,178
1,444,402- -
(20,961,134)(446,799) (4,957,854)
(3,688,450)(351,785) (1,507,863)
(874,770)(88,077) (211,640)
-- (13,820,897)
5,902289 32,476
2,559,556(62,911) 576
487,03299,196 -
703,305703,305 -
(1,114,211)- (716,742)
3,737- -
140,000140,000 -
219,863942,501 (716,742)
1,586,859110,116 -
(2,207,104)(185,954) (63,639)
3,000- -
(617,245)(75,838) (63,639)
193,2188,749 240,480
13,484,386351,339 18,729,123
(12,211,754)(725,492) (15,945,245)
1,465,850(365,404) 3,024,358
3,628,024438,348 2,244,553
12,388,894260,923 7,229,947
$ 16,016,918699,271$ 9,474,500$
(Continued)
C-23
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF CASH FLOWS-CONTINUED
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Business-type Activities Enterprise Funds
Major Funds
MunicipalCardKey
Svc DistrictSoundWest
t
WasteBridgeAirpor
Reconciliation of operating income/(loss)
to net cash provided by/(used in) operating
activities:
Operating income/(loss)853,650$ (350,906)$ (2,425,217)$
Adjustments to reconcile operating income/(loss)
to net cash provided by/(used in) operating
activities:
Depreciation and Amortization51,336 388,080 2,224,514
Nonoperating Income-PFC- - 1,444,402
Nonoperating Income-Insurance Recoveries- - -
Change in Assets and Liabilities:
(Increase)/Decrease in Accounts receivable 200(36,801) 41,062
(Increase)/Decrease in Due from other funds -- -
(Increase)/Decrease in Due from other gov't units 2,573(9,443) -
(Increase)/Decrease in Due fm constitutional ofcrs -246 (29,248)
Increase/(Decrease) in Accounts payable (2,197)291,556 65,572
Increase/(Decrease) in Accrued wages/benefits (19,258)(13,639) (45,601)
Increase/(Decrease) in Claims/judgments payable -- (6,053)
Increase/(Decrease) in Due to other funds -- (1,145)
Increase/(Decrease) in Due to other gov't units (1,109)14,938 4,856
Increase/(Decrease) in Due to constitutional ofcrs (679)- -
Increase/(Decrease) in Comp. absences payable (5,947)29,285 76,884
Increase/(Decrease) in Deposits in escrow -(27,383) -
Increase/(Decrease) in Landfill Closure Costs -2,535 -
Increase/(Decrease) in Deferred revenue -- 21,404
Increase/(Decrease) in OPEB liability 21,00023,000 40,000
Total adjustments325,630 382,663 3,836,647
Net Cash Provided by/(Used in)
Operating Activities1,179,280$ 31,757$ 1,411,430$
Noncash investing, capital, and financing activities:
Loss on abandonment-$ -$ -$
Gain on disposition of assets-$ -$ 2,714$
Forgiveness of capital lease amount50,000$ -$ -$
Change in fair value of investments(65,438)$ (35,254)$ (7,885)$
Cash Reconciliation:
Unrestricted4,344,995$ 2,216,142$ 2,849,248$
Restricted1,726,667 - 4,180,595
Total6,071,662$ 2,216,142$ 7,029,843$
The notes to the financial statements are an integral part of these statements.
C-24
Governmental
s
Major FundsActivitie
Internal
MarathonService
tTotalFunds
Airpor
$ (2,577,098)(654,625)$ (1,824,401)$
3,303,667639,737 70,476
1,444,402- -
-- 223,611
(2,922)(7,383) 705,406
1,1451,145 -
(6,524)346 68,315
(29,002)- 248,513
276,767(78,164) 226,016
(89,088)(10,590) (51,171)
(6,053)- 178,781
(1,145)- (172)
17,221(1,464) (16,896)
(679)- (12,018)
108,3098,087 48,116
(27,383)- -
2,535- -
21,404- -
124,00040,000 136,000
5,136,654591,714 1,824,977
$ 2,559,556(62,911)$ 576$
$ (500,049)(500,049)$ -$
$ 3,125411$ -$
$ 50,000-$ -$
$ (115,435)(6,858)$ (150,726)$
$ 9,969,601559,216$ 9,474,500$
6,047,317140,055 -
$ 16,016,918699,271$ 9,474,500$
C-25
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF FIDUCIARY NET POSITION
FIDUCIARY FUNDS
SEPTEMBER 30, 2014
Fire and
EMS
Pension
Trust Fund
ASSETS
Cash and Cash Equivalents293,472$
Investments:
US Treasury Notes445,601
Federal Agency Bonds/Notes126,148
Interest Receivable1,111
Total Assets866,332
LIABILITIES
Accounts Payable-
NET POSITION
Held in Trust for Pension Benefits and Other Purposes
$ 866,332
The notes to the financial statements are an integral part of these statements.
C-26
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
FIDUCIARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Fire and
EMS
Pension
Trust Fund
Additions:
Employer Contributions28,575$
Investment Income2,090
Total Additions30,665
Deductions:
Pension Benefits(28,290)
Total Deductions(28,290)
Change in Net Position 2,375
Total Net Position- October 1 863,957
Total Net Position- September 30$ 866,332
The notes to the financial statements are an integral part of these statements.
C-27
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following summary of the more significant accounting policies of the Monroe County, Florida Board
of County Commissioners (Board) is presented to assist the reader in interpreting these financial
statements and should be viewed as an integral part of this report.
Reporting Entity:
Monroe County, Florida (County) is a Non-Charter County established as provided by Article VIII
Section 1 of the Florida Constitution and Section 125 of the Florida Statutes. The primary government
of the County is comprised of the Board of County Commissioners and five “constitutional officers” as
follows: Clerk of the Circuit Court, Property Appraiser, Sheriff, Supervisor of Elections and Tax
Collector.
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. The financial statements
of the Board, when combined with all of its blended component units and the constitutional officers,
constitute the “primary government” of Monroe County according to GAAP. The primary government
constitutes the complete GAAP basis financial reporting entity of the County which is presented in the
Monroe County, Florida Comprehensive Annual Financial Report.
These financial statements include all funds of the Board and its “blended” component units, if material.
“Component units” are legally separate entities for which operational or financial responsibility rests
with the Board or for which the nature and significance of their relationship to the Board is such that
exclusion would cause the financial statements to be misleading or incomplete.
Since this report excludes the constitutional officers, these Board financial statements do not purport to
reflect the financial position or the results of operations of Monroe County, Florida taken as a whole.
Rather, they have been prepared to provide information at this level of detail greater than what is
available in the County’s financial statements.
The Board of County Commissioners, composed of five members, is the legislative body for Monroe
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. 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 excluding 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 Board 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.
Blended component units are legally separate entities that are in substance part of the Board’s
operation, as they either have governing bodies that are substantively the same as the Board or they
provide their services exclusively or almost exclusively to the Board. The financial transactions of the
component unit are merged in with similar transactions of the Board as part of the primary government.
D-1
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued)
The blended component unit of the Board is as follows:
Monroe County Industrial Development Authority (MCIDA) - The MCIDA was created by Monroe
County, Florida Resolution pursuant to Florida Statute 159. The MCIDA serves to assist in
financing and refinancing capital projects, which will foster economic development in the County.
The Monroe County Board of County Commissioners serves as the governing board and provides
services exclusively to the County. Therefore, the MCIDA for financial reporting purposes is
considered a blended component unit of Monroe County, Florida. The MCIDA is not legally
required to adopt a budget; however, the Board must authorize the issuance of bonded debt.
Neither the MCIDA nor the Board 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 or liabilities.
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
Board does not have any discretely-presented component units. The following is a discretely-
presented component unit of the County that is reported on the Board and County financial statements:
Monroe County, Florida Comprehensive Plan Land Authority (MCLA) - The MCLA was created
by Monroe County, Florida Ordinance 031-1986 pursuant to Florida Statute 380 and is
considered a legally separate entity from Monroe County. Its purpose is to operate a land
acquisition program in Monroe County, to implement the Monroe County Comprehensive Plan
and address issues created by it. The Monroe County Board of County Commissioners serves
as the governing board but there is no financial benefit or burden relationship. Therefore, the
MCLA, for financial reporting purposes, is considered a discretely-presented component unit of
Monroe County, Florida and is presented as a separate column in the County’s financial
statements. Complete financial statements for MCLA can be obtained from MCLA’s
administrative office at 1200 Truman Avenue, Suite 207, Key West, Florida 33040.
Basis of Presentation:
The Board’s financial statements are prepared in accordance with Chapter 10.550, Rules of the Auditor
General – Local Governmental Entity Audits (the “Rules”), which do not require separate financial
statements for the Board but which specify certain requirements if such financial statements are
presented. Requirements include presentation of fund-level and component unit financial statements.
Government-wide financial statements, related disclosures and management’s discussion and analysis
are not required by the Rules and are not presented. As such, these statements present information
about the Board’s funds, including fiduciary funds, but do not present a complete presentation of the
Board’s financial position and changes in financial position. Separate columns are presented for each
major governmental fund and for each major enterprise fund.
The following are reported as major governmental funds:
General Fund - The General Fund is the general operating fund of the Board. All general tax
revenues and other receipts that are 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.
D-2
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued)
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 that are transferred to the Sheriff and to account for operations of
the County’s court support system.
Road and Bridge Special Revenue Fund - The Road and Bridge Fund is used to account for all
revenues, operating expenditures and capital improvements for the construction and
maintenance of roads and bridges which are not grant funded.
Governmental Grants Special Revenue Fund - The Governmental Grant Fund is used to
account for operating revenues and expenditures for governmental activity of federal and state
grants.
One Cent Infrastructure Surtax Capital Project Fund - The One Cent Infrastructure Surtax Fund
is used to account for capital improvements funded by the One Cent Infrastructure Surtax.
Big Coppitt Wastewater Capital Project Fund - The Big Coppitt Wastewater Capital Project Fund
is used to account for the revenues and expenditures for the wastewater infrastructure for the
Big Coppitt, Geiger Key, Shark Key and Rockland Key areas of Monroe County.
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.
All Debt Service Fund – The All Debt Service Fund is used to account for accumulation of
resources for, and payment of, interest and principal on the long-term debt incurred in the
issuance of various revenue bonds and notes.
The following are reported as major enterprise funds:
Municipal Service District-Waste - The Municipal Service District-Waste Fund is used to account
for the operations of solid waste collection, disposal and recycling activities, as well as the
closure and post closure of the landfills.
Card Sound Bridge - The Card Sound Bridge Fund is used to account for the operations of
Monroe County’s Card Sound Toll Bridge.
Key West Airport - The Key West Airport Fund is used to account for the operations of Monroe
County’s Key West International Airport.
Marathon Airport - The Marathon Airport Fund is used to account for the operations of Monroe
County’s Marathon Airport.
The Board also reports the following fund types:
Internal Service Funds - Internal service funds are used to account for the financing of
worker’s compensation insurance, health insurance, general liability insurance and fleet
D-3
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued)
maintenance services provided by one department to other departments of the Board or to other
governmental units on a cost reimbursement basis.
Pension Trust Fund - The fiduciary pension trust fund is used to account for assets held by the
Board in a trustee capacity for a volunteer firefighters and emergency services length of service
award plan; and therefore, not available to support Board programs.
Measurement Focus and Basis of Accounting:
Governmental fund financial statements are reported using the current financial resources
measurement focus and 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 Board 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. In addition, expenditures related to compensated absences are recorded only when
leave has been taken.
Revenues of the Board, which are susceptible to accrual under the modified accrual basis of
accounting, include property taxes, gas taxes, sales taxes, 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 Board; 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.
The proprietary fund and pension trust 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.
Non-exchange transactions, in which the board gives (or receives) value without directly receiving (or
giving) equal value in exchange, include grants. On an accrual basis, revenue from grants is
recognized in the fiscal year in which all eligibility requirements have been satisfied.
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 Board’s enterprise funds are charges to customers for sales and services. Operating expenses for
D-4
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued)
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.
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.
Budgets and Budgetary Data - The following 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, 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
them.
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. All funds have legally adopted budgets.
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.
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. It is the Board’s
intention to substantially honor these encumbrances under authority provided in the subsequent year’s
budget.
D-5
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued)
Cash and Cash Equivalents – Cash balances from the majority of funds are pooled for investment
purposes. Earnings from such investments are allocated to the respective funds based on applicable
cash participation by each fund. The investment pools are managed such that all participating funds
have the ability to deposit and withdraw cash as if they were demand deposit accounts, and therefore
all balances representing participants’ equity in the investment pools are classified as cash equivalents
for purposes of these statements. For investments, which are held separately from the pools, those,
which are highly liquid (including restricted assets) with an original or remaining maturity of 90 days or
less, are considered to be cash equivalents.
Investments - Florida Statute 218.415 authorizes local governments to invest its funds pursuant to a
written investment plan, which allows investment of surplus funds in the following:
1) The Florida Local Government Surplus Funds Trust Fund Investment Pool (SBA).
2) United States Government Securities – Negotiable direct obligations or obligation, the
principal and interest of which are unconditionally guaranteed by the United States
Government.
3) United States Government Agencies – Bonds, debentures, notes, callables and fixed rate
mortgage-backed securities issued or guaranteed by United States Government Agencies,
provided such obligations are backed by the full faith and credit of the United States.
4) Federal Instrumentalities (United States Government-sponsored agencies) – senior
obligations, which include bonds, debentures, notes, callables and fixed rate mortgage-
backed securities issued or guaranteed by United States government-sponsored agencies
(Federal Instrumentalities). These are limited to the following:
Federal Farm Credit Bank (FFCB)
Federal Home Loan Bank or its County banks (FHLB)
Federal National Mortgage Association (FNMA)
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 funds must
equal to $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.
D-6
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued)
All investments are stated at fair value.
Accounts Receivable - Amounts due from private individuals, organizations, or other governments,
which pertain to charges for services rendered by Board departments, are reported as accounts
receivable. Receivables are reviewed periodically to establish or update the provisions for uncollectible
amounts. These provisions are estimated based on an analysis of the age of the various accounts.
Interfund Balances and Activity - During the course of normal operations, the Board 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. Additionally, short-term interfund
loans are recorded from time to time 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 an unspendable classification of fund balance as these amounts are not in
spendable form and are not expected to be converted to cash.
Capital Assets - Capital assets of the Board 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 fair market value at the date of donation.
Capital assets associated with business-type activities and the internal service funds are presented in
the Board’s basic financial statements. Capital assets associated with the Board’s governmental
activities are presented on the government-wide financial statements of the County, rather than on the
financial statements of the Board.
The Board 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
Buildings10-50
Equipment5-10
Infrastructure10-50
Public domain infrastructure20-50
Capacity rights99
D-7
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued)
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.
Compensated Absences – Board policy permits employees to accumulate a limited amount of annual
and sick leave, which will be paid to employees upon termination of employment. Accumulated annual
and sick leave is accrued when earned in the proprietary fund financial statements. For the proprietary
funds, an expense and a liability are recorded as the leave is earned. Compensated absences
associated with the Board’s governmental activities are presented on the government-wide financial
statements of the County, rather than on the financial statements of the Board.
Restricted Assets - The use of certain assets of enterprise funds is restricted by specific provisions of
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.
Landfill Closure Costs - Under the terms of current state and federal regulations, the Board 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
Board 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.
Deferred Inflows of Resources – In addition to liabilities, the balance sheet will report a separate section
for deferred inflows of resources. This separate financial statement element, deferred inflows of
resources, represents an acquisition of net position that applies to a future period and so will not be
recognized as an inflow of resources until that time. The Board has two items that qualifies for
reporting in this category, advances from other governments and unavailable revenues. The advances
from other governments are grants received in advance of meeting the GASB 33 timing requirements in
governmental funds. The governmental funds also report unavailable revenues from services
rendered.
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 Board’s governmental activities is presented on the
government-wide financial statements of the County, rather than on the financial statements of the
Board. In the Board’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 four percent discount is allowed if the taxes are paid in
November, with the discount declining by one percent 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 2014 is included in the accompanying financial statements, since such
taxes are collected to finance expenditures of the subsequent period.
D-8
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued)
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 Board 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 inventories, prepaid amounts, assets held for sale, and long-term receivables.
Restricted – Include amounts that can be spent only for specific purposes because of
constitutional provisions or enabling legislation, or because of constraints that are externally
imposed by creditors, grantors, contributors or the laws or regulations of other governments.
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 that are 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 policy authorizes the County Administrator to assign fund balance
based on intentions for use of fund balance communicated by the Board.
Unassigned – This is the residual classification of the General Fund. Only the General Fund
reports a positive unassigned fund balance. Other governmental funds might report a negative
balance in this classification, as the result of overspending for specific purposes for which
amounts had been restricted, committed, or assigned. Unassigned fund balance does not
necessarily represent the amount of fund balance that can be appropriated.
The Board has the responsibility of responding to emergency disaster and has committed $10,000,000
in general fund disaster reserve funds to ensure adequate cash flow is available in post-disaster
situations. The Board’s policy on unassigned general fund balance is to achieve and maintain an
unassigned General Fund balance equal to four months of budgeted expenditures. The Board
considers a balance of less than four months to be a cause for concern, barring unusual or deliberate
circumstances, and a balance of more than six months as excessive. Since this is a plan for
accumulating resources rather than a limitation on how existing resources can be spent, the fund
balance policy does not affect the classification of fund balance and is included in the unassigned fund
balance.
The County spends restricted amounts first, when both restricted and unrestricted fund balance is
available, unless prohibited by legal documents, grant agreements or contracts. Additionally, the
County uses committed fund balance, followed by assigned fund balance and then unassigned fund
balance when expenditures are incurred for purposes for which amounts in any of the unrestricted fund
balance classifications could be used.
D-9
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued)
Fund Deficits – There are no fund deficits to report at September 30, 2014.
Excess of Expenditures Over Appropriations – During the fiscal year ended September 30, 2014, the
General Fund Clerk court related cost centers exceeded appropriations by $71,578. This was
attributable to a budget amount that was court related being allocated to the Clerk commission & fees-
noncourt cost center. The Cudjoe Regional Wastewater Capital Projects Fund’s County Funding cost
center exceeded appropriations by $7,075,233. This was attributable to expenditures incurred that
were originally anticipated to be incurred by the Loan Funding cost center in the budget.
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 $6,198,120 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.
NOTE 2 - CASH, CASH EQUIVALENTS AND INVESTMENTS
The Board maintains a cash and investment pool that is 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, 2014, except for the Pension Trust Fund cash of $293,472 and investments of
$571,749, the carrying value of the Board’s deposits and investments with their respective credit ratings
are as follows:
CreditLess than 6 6 Months to
Investment Type Rating Fair Value Months 1 Year 1 to 3 Years
N/A
Demand and Time Deposits $ 78,743,099$ 78,743,099$ - $ -
Equity Securities N/A 10,54610,546 - -
US Treasury Notes AA+ 74,242,84415,469,27531,747,901 27,025,668
Federal Agency Bond / Note AA+ 56,146,14427,673,55022,523,654 5,948,940
Total Fair Value $209,142,633$121,896,470$ 54,271,555 $ 32,974,608
Credit Risk – The Board’s Investment Policy (Policy) limits credit risk by restricting authorized
investments to the following: Florida Local Government Surplus Funds Trust Fund Investment Pool
administered by Florida’s State Board of Administration (a 2a7-like pool), direct obligations of the
United States or its agencies and instrumentalities, money market mutual funds, and Intergovernmental
Investment Pools authorized by the Florida Statutes. The Policy requires that investments in federal
instrumentality debt be guaranteed by the full faith and credit of the U. S. Government sponsored
agency, and that investments in money market mutual funds have a rating of AAAm or AAAm-G or
better by Standard & Poor’s (S&P) or other nationally recognized rating agency. All credit ratings
indicated in the previous table are S&P ratings.
D-10
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 2 - CASH, CASH EQUIVALENTS AND INVESTMENTS - (Continued)
Concentration of Credit Risk – The Policy establishes limitations on portfolio composition, both by
investment type and by issuer, in order to control concentration of credit risk. The Policy provides the
following maximum limits of the portfolio, with limits in any one issuer of the portfolio invested:
PortfolioMaximum in
Investment Type Maximum any one issuer
Florida Local Government Surplus Funds Trust Fund 100% n/a
United States Government Securities 100% n/a
United States Government Agencies 50% 10%
Federal Instrumentalities 80%30%, with a maximum of
Maximum in callable securities 25% in callable securities
Interest-bearing Time Deposit or Savings Accounts 10% 10%
Money Market Mutual Funds 20% 10%
Intergovernmental Investment Pool 10% n/a
As of September 30, 2014, the Board’s asset allocation slightly exceeded policy with Interest-bearing
Accounts at 10.32% and Money Market Mutual Funds at 22%. These funds were held in these
accounts as projects required payment in the near term and were used to meet these liquidity needs.
At September 30, 2014, the portion of the Board’s investment portfolio invested in Federal
instrumentalities is detailed as follows:
Percent of
Issue Investment Portfolio
Federal Home Loan Bank 8.06%
Federal Farm Credit Bank .88%
Federal Home Loan Mortgage Corp 6.63%
Federal National Mortgage Assoc 13.55%
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 Board’s name. As of September 30, 2014, all of
the Board’s investments are held in a bank’s trust department in the Board’s name.
Interest Rate Risk – The Policy limits the investment of three months of operating expenditures to
twelve months. The Policy limits the investment of non current operating funds to five years.
Restricted Cash and Cash Equivalents – The Board, excluding the Pension Trust Fund, has the
following unrestricted and restricted cash and cash equivalents at September 30, 2014:
D-11
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 2 - CASH, CASH EQUIVALENTS AND INVESTMENTS - (Continued)
Local
Government
Unrestricted Cash & Cash Equivalents: Surplus Trust Demand
FundDepositsTotal
Governmental Activities:
Governmental Funds $ - $ 53,251,681 $ 53,251,681
Internal Service Funds -9,474,5009,474,500
Business-Type Activities 8629,968,7399,969,601
Total Unrestricted Cash & Cash Equivalents 86272,694,92072,695,782
Restricted Cash and Cash Equivalents:
Business-Type Activities -6,047,317 6,047,317
Total Cash and Cash Equivalents $ 862$ 78,742,237 $ 78,743,099
NOTE 3 – RESTRICTED ASSETS
Restricted assets in the Enterprise Funds include those created by resolutions adopted by the Board for
the landfill escrow account, airport passenger facility charges and customs service operations. Total
restricted assets as of September 30, 2014 are as follows:
Cash and
CashAccounts
EquivalentsReceivable Total
Municipal District Waste
$$$
Landfill Closure Escrow 1,726,667 - 1,726,667
Key West Airport
Passenger Facility Charge 4,180,595 150,803 4,331,398
Marathon Airport
Customs Service Operations 140,055 - 140,055
$6,047,317 $150,803 $ 6,198,120
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:
D-12
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 4 – ACCOUNTS RECEIVABLE - (Continued)
Allowance for Accounts
AccountsUncollectible Receivable,
Service Provided ReceivableAccts Net
Governmental Activities:
General Fund Misc $ 11,061$ 7,439 $ 3,622
Fine & Forfeiture Fund Air Amb Svc 7,033,7296,758,674 275,055
Governmental Grants Misc 10- 10
Nonmajor Funds:
TDC Two Cent Misc 8,364 - 8,364
Fire & Amb Dist 1 Fund Ground Amb Svc 2,068,2082,002,700 65,508
Internal Service Funds Misc 8,843 - 8,843
Total Governmental Activities 9,130,2158,768,813 361,402
Business-Type Activities:
MSD-Waste Fund: Tipping Fees 30,5492,022 28,527
Waste Assessments 8,1397,325 814
Solid Waste Franchise429,204 - 429,204
Key West Airport Rent, Misc 844,23852,528 791,710
Marathon Airport Misc 41,128 - 41,128
Total Business-Type Activities 1,353,25861,875 1,291,383
Total Accounts Receivable $10,483,473 $8,830,688 $1,652,785
The Board of County Commissioners approved an air and ground ambulance billing write off of
$821,273 and $386,069during the year.
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 that is added to their real estate tax bills. Revenue is recognized on the modified
accrual basis. Once the construction project is substantially complete, the remaining assessment is
recorded with an offset to deferred inflows of resources for those amounts that are not available.
Property owners who selected the installment option under the Stock Island, Big Coppitt and Duck Key
assessment programs continue to pay the assessments remaining for these completed projects. The
Cudjoe Regional project which includes Sugarloaf Key, Summerland Key, Cudjoe Key and Big Pine
Key is ongoing and all collections are shown as unearned revenues until project completion.
D-13
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 6 - MORTGAGES RECEIVABLE
Mortgages receivable at September 30, 2014 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. $ 368,089
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. 57,156
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. 7,856,137
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. 505,466
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. 223,305
Florida Homebuyer Opportunity Tax Credit (FHOP), Second Mortgages Receivable
from individuals, collateralized by personal residences. Interest on note is 6% per
annum, except if paid in full within first 18 months of repayment period then interest
rate shall be 0% from the date when the first payment is due. 25,227
8,667,291
Total Mortgages Receivable $ 9,035,380
The mortgages receivable associated with the Governmental Grants are offset by an allowance for
uncollectible accounts of $368,089. As the mortgages receivable associated with the Local Housing
Assistance fund are intended to ultimately be forgiven, an allowance for uncollectible accounts of
$8,667,291 has been established.
D-14
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 7 – CAPITAL ASSETS
Amounts associated with the Board’s governmental activities’ capital assets, related accumulated
depreciation, and depreciation expense are reported on the government-wide financial statements of
the County, rather than on the financial statements of the Board. Amounts associated with the Board’s
business-type activities’ and internal service funds’ capital assets, related accumulated depreciation,
and depreciation expense are reported on the proprietary fund financial statements of the Board.
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, 2014 is as follows:
BeginningEnding
Balances Additions Reductions Balances
Governmental Activities
Capital assets not depreciated:
Land $ 71,804,567$ 5,000,242 $ - $ 76,804,809
Construction in progress 47,741,61264,511,37724,091,229 88,161,760
Total capital assets not depreciated 119,546,17969,511,61924,091,229 164,966,569
Capital assets depreciated:
Buildings 150,393,0154,733,266141,754 154,984,527
Equipment 27,361,7342,374,5542,177,043 27,559,245
Infrastructure 87,910,15618,307,478- 106,217,634
Capacity rights 3,150,000- - 3,150,000
Total capital assets depreciated 268,814,90525,415,2982,318,797 291,911,406
Less accumulated depreciation for:
Buildings 51,172,4423,075,93387,687 54,160,688
Equipment 21,520,2931,704,7692,166,376 21,058,686
Infrastructure 30,135,4662,122,831- 32,258,297
Capacity rights 286,36231,818- 318,180
Total accumulated depreciation 103,114,5636,935,3512,254,063 107,795,851
Total capital assets depreciated, net 165,700,342 184,115,555
Governmental funds, capital assets, net 285,246,521 349,082,124
Internal Service Funds
Capital assets not depreciated:
Land 54,000- - 54,000
Capital assets depreciated:
Buildings 1,711,924- - 1,711,924
Equipment 698,89188,66391,998 695,556
Total capital assets depreciated 2,410,81588,66391,998 2,407,480
Less accumulated depreciation for:
Buildings 859,18644,553- 903,739
Equipment 627,32425,92372,666 580,581
Total accumulated depreciation 1,486,510$ 70,476$ 72,666 1,484,320
D-15
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 7 – CAPITAL ASSETS - (Continued)
BeginningEnding
Balances Additions Reductions Balances
Total capital assets depreciated, net 924,305 923,160
Internal Svc Funds, capital assets, net 978,305 977,160
Total Governmental Activities, capital
assets, net $286,224,826 $350,059,284
Business-type Activities:
Capital assets not depreciated:
Land$ 5,141,787 $ 505,819$ - $ 5,647,606
Construction in progress 2,916,406852,2442,858,867 909,783
Total capital assets not depreciated8,058,1931,358,0632,858,867 6,557,389
Capital assets depreciated:
Land improvements212,925- - 212,925
Buildings55,638,816886,188- 56,525,004
Equipment5,217,338105,192191,738 5,130,792
Infrastructure49,073,8421,472,630- 50,546,472
Total capital assets depreciated110,142,9212,464.010191,738 112,415,193
Less accumulated depreciation for:
Land improvements 212,925 - - 212,925
Buildings10,989,1431,403,368- 12,392,511
Equipment3,734,387355,989196,410 3,893,966
Infrastructure18,644,3221,544,310 - 20,188,632
Total accumulated depreciation33,580,777$ 3,303,667$ 196,410 36,688,034
Total capital assets depreciated, net76,562,144 75,727,159
Business-type activities, capital assets,
net $ 84,620,337 $ 82,284,548
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 $1,461,026 Municipal Service District-Waste $ 51,336
Public Safety 1,964,799 Card Sound Bridge 388,080
Physical Environment 1,042,114 Key West Airport 2,224,514
Transportation 1,092,747 Marathon Airport 639,737
Economic Environment 25,873 Total Business-type Activities $3,303,667
Human Services 241,871
Culture and Recreation 402,528
Court Related 704,393
Total Governmental Activities 6,935,351
Internal Service Funds-
General Government 70,476
Total Governmental Activities $7,005,827
D-16
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
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 OPEB obligation for the Board
includes obligations related to the Constitutional Officers.
Eligibility for post employment participation in the Plan is limited to full time employees of the County,
and the Constitutional Officers. At September 30, 2014, there were no terminated employees entitled
to deferred benefits. The membership of the County’s medical plan consisted of:
Active Employees 1,181
Retirees and beneficiaries currently receiving benefits 412
Total Membership 1,593
Funding Policy The contribution requirements of plan members and the County are established and
may be amended by the County. The required contribution is based on pay-as-you-go financing
requirements, net of member contributions.
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.
D-17
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 8 – POST EMPLOYMENT BENEFITS OTHER THAN PENSION - (Continued)
For the fiscal year 2014, the County contributed the following:
Claims paid by Group Insurance Fund $ 2,964,000
Allocation of administrative expenses and incurred but
not reported costs (IBNR) 418,000
OPEB costs 3,382,000
Less retiree contributions (725,000)
County contribution $ 2,657,000
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 of the employer (ARC),
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 thirty years. The following table
shows the actuarially determined components as of October 1, 2013 (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 $ 6,240,000
Interest on net OPEB obligation 1,376,000
Adjustment to annual required contribution (1,167,000)
Annual OPEB cost 6,449,000
Less Contributions made (2,657,000)
Increase in net OPEB obligation 3,792,000
Net OPEB obligation, beginning of year 30,571,768
Net OPEB obligation, end of year $ 34,363,768
The BOCC’s annual OPEB cost, the percentage of annual OPEB cost contributed to the plan and the
net OPEB obligation for 2014 and the two preceding years were as follows (amounts expressed in
thousands):
Fiscal
AnnualPercentage of Net
Year OPEB Annual OPEB OPEB
CostCost ContributedObligation
Ended
9/30/12 $ 7,428 46.5% $ 26,884
9/30/13 7,584 51.4% 30,572
9/30/14 6,449 41.2% 34,364
The net OPEB obligation at the end of the year is $32,660,517 for Governmental Activities and
$1,703,251 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.
D-18
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 8 – POST EMPLOYMENT BENEFITS OTHER THAN PENSION - (Continued)
Funded Status and Funding Progress – Information about funded status as of the most recent actuarial
valuation date is as follows (amounts expressed in thousands):
ActuarialUAAL as a
AccruedPercentage
ActuarialActuarialLiability - of
Valuation Value of Projected UnfundedFundedCoveredCovered
DateAssets Unit Credit AAL RatioPayrollPayroll
10/01/09 $ - $ 142,473 $142,473 0% $ 65,357 217.99%
10/01/11 - 113,588 113,588 0% 67,299 168.78%
10/01/13 - 97,091 97,091 0% 69,338 140.03%
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.
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 March 17, 2015, as of October 1, 2013, was prepared using generally accepted
actuarial principles and practices, and relied on unaudited census data and medical claims data
reported by the County. The valuation used the projected unit credit actuarial method. Demographic
assumptions mirror those used for the various Florida Retirement System pension funds. The actuarial
assumptions include an annual health care cost trend rate of 8.5% initially, reduced by decrements of
.5% to an ultimate rate of 5.0%. The assumptions included a discount rate that is 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 4.5% rate of
return over the long term, and the inflation rate will be 3.5%. The unfunded accrued actuarial liability is
amortized over thirty years on an open basis, as a level percentage of the projected payroll, which is
assumed to increase at 3.5% per annum.
NOTE 9 – FLORIDA RETIREMENT SYSTEM RETIREMENT PLAN
Plan Description – Substantially all full-time Board employees are participants in the Florida Retirement
System, (FRS), administered by the Florida Department of Management Services. Employees elect to
participate in either the defined benefit plan (“Pension Plan”), a multiple-employer; cost-sharing public
D-19
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 9 – FLORIDA RETIREMENT SYSTEM RETIREMENT PLAN - (Continued)
employee defined benefit retirement plan, or the defined contribution plan (Investment Plan) under the
FRS. As a general rule, membership in the FRS is compulsory for all employees working in a regularly
established position of a state agency, county government, district school board, state university,
community college, or a participating city or special district within the state of Florida. FRS provides
retirement benefits, disability benefits, annual cost-of-living adjustments, and death benefits to Pension
Plan members and beneficiaries of various governmental units within the State of Florida. Benefits are
established by Chapter 121, Florida Statutes, and Chapter 60S, Florida Administrative Code.
Amendments to the law can be made only by Act of the Florida legislature.
For employees hired before July 1, 2011 and enrolled in the Pension Plan, the FRS provides for vesting
of benefits after 6 years of credited service. Normal Pension Plan retirement benefits are available to
employees who retire at or after age 62 with 6 or more years of service or after 30 years if under age
62. Benefits are also based on the 5 highest state fiscal years of compensation earned during covered
employment. For employees hired July 1, 2011 and thereafter enrolled in the Pension Plan, the FRS
provides for vesting of benefits after 8 years of credited service. Normal retirement benefits are
available to employees who retire at or after age 65 with 8 or more years of service or after 33 years if
under age 65. Benefits are also based on the 8 highest state fiscal years of compensation earned
during covered employment. Pension Plan retirement benefits for all employees are based on age,
average compensation and years-of-service credit. Early retirement is available after 6 years of service
with a 5% reduction in benefits for each year prior to the normal retirement age.
In addition to the above benefits, the FRS administers a Deferred Retirement Option Program
(“DROP”). This program allows eligible employees 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.
For employees who elect to participate in the Investment Plan rather than the Pension Plan, vesting
occurs at one year of service. These participants receive a contribution of self-direction in an
investment product with a third party administrator selected by the State Board of Administration.
Investment accounts may be withdrawn by the employee 90 days after termination or retirement.
The Florida Division of Retirement issues a publicly available financial report that includes financial
statements and required supplementary information for the FRS. The report may be obtained by writing
to Florida Division of Retirement, P.O. Box 9000, Tallahassee, FL 32315-9000, or from the website
www.frs.state.fl.us.
Funding Policy – The FRS was noncontributory for Pension Plan and Investment Plan members until
June 30, 2011. As of July 1, 2011 all members, with the exception of Deferred Retirement Option
Program (DROP) members and re-employed retirees, contribute 3% of their eligible wages.
Participating employer contributions are based upon state-wide rates established by the State of Florida
on an annual basis effective each July 1. The employer contribution rates by job class for the periods
October 1, 2013 through June 30, 2014 and July 1, 2014 through September 30, 2015, respectively,
were as follows: regular employees, 7.37% and 6.95%, special risk employees, 19.82% and 19.06%,
special risk administrative support 42.07% and 35.96%; elected officials, 43.24% and 33.03%, senior
management 21.14% and 18.31%, and DROP participants 12.28% and 12.84%. The Board
contributed to the plan an amount equal to 10.49% of covered payroll during the fiscal year ended
September 30, 2014. The Board’s contributions made during the years ended September 30, 2014,
D-20
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 9 – FLORIDA RETIREMENT SYSTEM RETIREMENT PLAN - (Continued)
2013, and 2012 were $2,947,111, $2,178,419, and $1,930,932, respectively, equal to the required
contributions for each year. The Board has historically contributed amounts equal to required
contributions and, therefore, does not have a pension asset or liability as determined in accordance
with GASB Statement No. 27.
NOTE 10 – PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL
SERVICES
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. Upon completion of ten
(10) years of service, prior to normal retirement age, and in accordance with the terms of LOSAP, a
plan member is considered vested. 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.
LOSAP had 61 participants of which 13 are active, 36 are inactive and 12 are retired members for the
plan year ended December 31, 2013 and the County’s fiscal year ending September 30, 2014.
Separate, stand-alone financial statements for LOSAP are not provided.
Annual Pension Cost and Net Pension Asset – In the LOSAP, there were no revisions in benefits or
changes in actuarial methods since the last valuation. The assumed investment rate of return has been
lowered from 2.0% to 1.5%. Based on the actuarial valuation report as of December 31, 2013, the
LOSAP had an actuarial value of assets of $857,126 and actuarial accrued liability of $916,684
resulting in an unfunded AAL (UAAL) of $59,558. There was no covered payroll at December 31, 2013.
The annual required contribution was $28,575 for fiscal year 2014.
ActuarialUAAL as a
ActuarialActualAccruedUnfundedPercentage
ValuationValue of LiabilityAALFundedCoveredof Covered
DateAssets (AAL) (UAAL) RatioPayrollPayroll
12/31/2011 $ 841,980 $ 870,648$ 28,668 96.7% N/A N/A
12/31/2012 849,903 934,70584,802 90.3% N/A N/A
12/31/2013 857,126 916,68459,558104.93%N/A N/A
NA - Contributions and benefits are calculated based on years of service as the participants are unpaid
volunteers. As a result, there are no related covered payroll and no UAAL as a percentage of covered
payroll.
The schedule of funding progress, presented as required supplementary information following the notes
to the financial statements, present multi-year trend information that shows whether the actuarial value
of plan assets is increasing or decreasing over time relative to the actuarial accrued liabilities for
benefits of LOSAP. Disclosures for the funded status of LOSAP can also be found in the required
supplementary information.
D-21
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 10 – PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL
SERVICES - (Continued)
The employer’s contribution is based on the annual required contribution (ARC). The ARC is an
amount actuarially determined in accordance with the parameters of GASB Statement No. 45. The
ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover the normal
cost each year and amortize any unfunded actuarial liability over a period not to exceed 30 years.
Net Pension Obligation (NPO) or asset is the cumulative difference between annual pension cost and
the employer’s contribution to the plan. Because an NPO is a long-term liability, it is not reported as a
liability in the County’s governmental funds. Instead, an expenditure is recognized in the governmental
funds only as the NPO is actually liquidated. However, a net pension asset is not considered to
represent a financial asset in the governmental funds of the County and is, therefore, not reported on a
fund level. It is reported, however, as an asset in the government-wide statement of net position for the
County.
The Board’s annual pension cost of $28,575 was equal to the required contribution. The annual
required contribution was determined as part of the January 1, 2013 actuarial valuation using the
Aggregate Method. Allocations are based on years of service and the aggregation used is by fire
district. This method does not separately amortize unfunded actuarial liabilities. Under this method,
gains and losses are spread over future normal costs.
The annual pension cost (APC), the percentage of APC contributed to the plan, and the net obligation
for the plan year ending December 31, 2013 and the two preceding years were as follows:
FiscalAnnualPercentageNet
YearPensionof APC Pension
EndingCost (APC)ContributedObligation
12/31/11$ 22,945100% $ -
12/31/1231,588100% -
12/31/13 28,575 100% -
The following table shows the components of the LOSAP costs, the amounts actually contributed, and
the changes in the net pension asset for the last three fiscal years:
2014 2013 2012
Annual required contribution (ARC) $ 28,575 $ 31,588 $ 22,945
Interest on net pension asset - - -
Adjustment to ARC 28,575 31,588 22,945
Net annual pension cost 28,575 31,588 22,945
Contributions made 28,575 31,588 22,945
Increase (decrease) in net pension asset - - -
Net pension asset, beginning - - -
Net pension asset, ending $ - $ - $ -
D-22
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 10 – PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL
SERVICES - (Continued)
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.
Funding Policy – Annually, as determined by the actuarial study, the Board shall appropriate funds from
the budgets of the various volunteer fire/rescue districts. These funds will be applied as contributions to
LOSAP. Plan members do not contribute. The current contribution rate is $535 per volunteer year of
service. Because the aggregate method does not identify or separately amortize unfunded actuarial
accrued liabilities, information about the funded status and funding progress is prepared using the entry
age actuarial cost method, which serves as a surrogate for the funding progress of the plan. Below is a
schedule of funding progress for three years.
Investments – Investments are pooled with all County investments and are held in accordance to the
investment policy included in Note 1. All plan investments consist of U.S. Government and U.S.
Government-guaranteed obligations which represent more than 5.0% of the net assets available for
benefits. There are no investments in, loans to or leases with any public employee retirement system
official, government employer official, party related to a public employee retirement system official or
government employer official, nonemployee contributor, or organization included in the reporting entity.
For the year ended December 31, 2013, the annual money-weighted rate of return on pension plan
investments, net of pension plan investment expenses was 1.5%. The annual money-weighted rate of
return expresses investment performance, net of investment expense, adjusted for the changing
amounts actually invested.
The components of the net pension liability (asset) of the Board’s for each plan at December 31, 2013,
calculated in accordance with GASB Statement No. 67, are as follows:
LOSAP
Total pension liability$ 808,903.
Plan fiduciary net position(848,808)
Net pension liability (asset) $ (39,905)
The significant actuarial assumptions used to compute the pension benefit obligation in the December
31, 2013 valuation for the period of January 1, 2013 through December 31, 2013 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 prob for YOS<1
5. Inflation: No increase as benefits are based on a flat amount per year of service
D-23
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 10 – PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL
SERVICES - (Continued)
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.
Sensitivity of the net pension liability to changes in the discount rate. The following presents the net
pension liability of LOSAP, calculated based on GASB Statement No. 67 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 1-percentage point lower or 1-percentage point higher than the current rate.
Current Discount Rate
1% Decrease 1% Increase
1%
Discount Rate
0%2%
Net pension liability (asset) $ 31,126$ (39,905)$ (126,002)
NOTE 11 – CAPITAL AND OTHER SIGNIFICANT COMMITMENTS
Construction projects and significant commitments, excluding encumbrances reported below, under
present contractual agreements as of September 30, 2014 are as follows:
Cudjoe Regional Wastewater $ 71,860,000
Solid Waste Disposal 154,180,000
Key West Airport 3,854,854
North Key Largo Utility Corporation 2,600,000
US 1 Bayside Shared Path 2,140,590
Marathon Airport 1,373,246
CR 905 Bike Path 1,216,723
Professional services 1,086,068
Animal Shelters 770,153
Canal Demonstration 524,547
Miscellaneous 1,757,887
Total $ 241,364,068
The entire construction costs of the Cudjoe Regional Wastewater project are estimated at
$168,550,000. There is an interlocal agreement between the County and the Florida Keys Aqueduct
Authority (FKAA) for this project. The County obtained partial funding through grants and the issuance
D-24
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 11 – CAPITAL AND OTHER SIGNIFICANT COMMITMENTS - (Continued)
of revenue notes backed by the pledge of the infrastructure sales surtax and wastewater special
assessments to provide funding to FKAA for the administration, planning and construction of
wastewater projects. The County executed a grant award of $30,000,000 with the State of Florida on
June 12, 2014. During the year ended September 30, 2014, $21,786,579 was earned. The amount
shown above as a construction commitment is the amount remaining on the interlocal agreement as of
September 30, 2014.
Significant encumbrance commitments at September 30, 2014 are as follows:
Encumbrance
Governmental Activities:
General Fund $ 33,085
Road & Bridge Fund 63,180
Governmental Grants Fund 810,209
One Cent Infrastructure Surtax 1,856,886
Cudjoe Regional Wastewater 39,760
Nonmajor Governmental Funds 146,546
Total Governmental Activities 2,949,666
Business-Type Activities:
Municipal Srv District Waste 64,866
Key West Airport 457,904
Marathon Airport 100,548
Total Business-Type Activities 623,318
Total Encumbrances $ 3,572,984
NOTE 12 – LEASE OBLIGATIONS
Capitalized lease obligations are stated at the original fair market value of leased assets capitalized,
less payments since the inception of the lease discounted at the implicit rate of interest in the lease.
The future minimum debt reductions under capitalized leases consist of the following at September 30,
2014:
Business-type
Activities
Fiscal year ending September 30:
2015 $50,000
2016 50,000
2017 50,000
2018 50,000
2019 50,000
2020-2024 217,270
Total minimum payments 467,270
Less: Amounts representing interest -
Present value of net minimum lease payments $ 467,270
D-25
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 12 – LEASE OBLIGATIONS - (Continued)
Leased property which has been capitalized as of September 30, 2014 is as follows:
Business-type
Activities
Buildings $774,290
Less: Accumulated Depreciation 774,290
$ -
Rental expense under cancelable operating leases for the current year amounted to $987,011.
NOTE 13 - LONG-TERM DEBT
Long-term debt activity for the year ended September 30, 2014 is as follows:
Current Portion of
Beginning Ending Long-term
Balances Additions Payments Balances Liabilities
Governmental Activities:
Governmental Funds
Revenue bonds payable $25,068,601 $ - $ 4,649,689$20,418,912 $4,831,091
Revenue notes payable 14,485,80627,412,932440,33841,458,400 452,352
Accrued comp. absences 2,624,2241,964,0391,608,3072,979,956 465,777
OPEB Liability 28,342,7466,023,0002,491,00031,874,746 -
Total Governmental Funds 70,521,37735,399,9719,189,33496,732,014 5,749,220
Internal Service Funds
Accrued comp. absences 103,286105,60957,493151,402 42,363
OPEB Liability 649,771159,00023,000785,771 -
Total Governmental Activities $71,274,434$35,664,580$ 9,269,827 $97,669,187 $5,791,583
Business-type Activities:
$ 6,053 $ - $ 6,053 $ - $ -
Arbitrage payable
295,594262,145153,836403,903 119,665
Accrued comp. absences
1,579,251267,000143,0001,703,251 -
OPEB Liability
517,270 - 50,000467,270 50,000
Capitalized lease obligations
$ 2,398,168$ 529,145$ 352,889$ 2,574,424 $ 169,665
Total Business-type Activities
$73,672,602$36,193,725$ 9,622,716$100,243,611 $ 5,961,248
Total Long-Term Debt
D-26
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 13 - LONG-TERM DEBT - (Continued)
Amounts associated with the Board’s governmental activities long-term liabilities are reported on the
government-wide financial statements of the County rather than on the financial statements of the
Board. Amounts associated with the Board’s business-type activities and internal service funds long-
term liabilities are reported on the proprietary fund financial statements of the Board. 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.
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 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.
The following is a summary of the Board’s bonds and notes as of September 30, 2014:
Governmental Activities
Revenue Bonds:
Infrastructure Sales Surtax Revenue Bonds, Series 2003 $ 7,060,000
Infrastructure Sales Surtax Revenue Bonds, Series 2007 13,010,000
Unamortized Original Issue Premium, Series 2007 348,912
Total Revenue Bonds 20,418,912
Revenue Notes:
Clean Water State Revolving Fund Construction Loan Agreement 2010 8,584,127
Clean Water State Revolving Fund Construction Loan Agreement 2014 32,874,273
Total Revenue Notes 41,458,400
Total Government Activities 61,877,312
Debt Service Funds Available to Pay Current Maturities (2,194,961)
Debt Service Funding not required for Note in Construction Draw Process (32,874,273)
Unamortized Original Issue Premium, Series 2007 (348,912)
Governmental Activities Principal Funding Requirements $ 26,459,166
Debt Service Funding Requirements - The total annual debt service requirements for bonds and notes
outstanding at September 30, 2014 are as follows:
D-27
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 13 - LONG-TERM DEBT - (Continued)
Governmental Activities
Principal Interest Total
2015 $ 5,177,352 $ 998,519$ 6,175,871
2016 5,374,695798,0936,172,788
2017 5,577,372570,8916,148,263
2018 5,825,398315,4656,140,863
2019 503,777178,161681,938
2020-2024 2,732,713676,9783,409,691
2025-2030 3,462,820969,7784,432,598
Total $28,654,127$ 4,507,885$33,162,012
Long-Term Debt at September 30, 2014 is composed of the following issues:
$21,455,000 Infrastructure Sales Surtax Revenue Bonds, Series 2003
Type: General Government Revenue Bonds Dated: March 2003
Final maturity: Year 2018 Principal payment date: April 1
Interest payment dates: April 1 and October 1 Interest rates: 3.6% to 4.0%
Amount outstanding at September 30th: $7,060,000
Reserve requirement: None; MBIA insured.
Revenue pledged: All of the One Cent Local Government Infrastructure Sales Surtax accruing to
Monroe County. The total principal and interest remaining to be paid is $7,632,283. For the fiscal
year, principal and interest paid was $1,876,515 and total pledged revenue was $17,106,367.
Purpose: To construct and acquire equipment and capital improvements.
Call provisions: First redemption date may not be later than 4/20/13 and no call premium may exceed
2% of the par amount redeemed.
$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: $13,010,000
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 $14,277,750. For the fiscal
year, principal and interest paid was $3,622,555 and total pledged revenue was $17,106,367.
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
D-28
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 13 - LONG-TERM DEBT - (Continued)
Final maturity: Year 2020
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: $8,584,127
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 $11,251,979. For the fiscal year, principal and interest paid was $681,938 and total pledged
revenue was $26,056,995.
Purpose: Refund temporary financing for wastewater capital improvements.
Call provisions: None
Clean Water State Revolving Fund Construction Loan Agreement
The State awarded $71,000,000 for collection, transmission and treatment facilities under the State
Revolving Fund loan program. During the year ended September 30, 2014, loan draws of
$27,072,509 were received and interest of $340,422 capitalized resulting in an outstanding loan
balance as of September 30, 2014 of $32,874,273.
Interest rate: 2.39% as of September 30, 2014
Final maturity and payment: Details to be determined upon completion of draw process
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 $19,859,975.
Purpose: Financing for wastewater capital improvements.
Call provisions: None
NOTE 14 – 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.
D-29
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 14 – 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 refund 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 15 – 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 Board’s previously operated landfills, which include Cudjoe Key, Long
Key, and Key Largo, are 100% used and have no remaining landfill life. Closure of these landfills was
substantially completed during the year ended September 30, 1994. 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 Board also has a landfill site at Cudjoe Key which has never been used and the
County does not presently intend to use.
Accordingly, no future closure cost is accruable except for post closure costs estimated to be incurred
in the coming year for Cudjoe Key. At September 30, 2014, the estimated future cost for post closure
maintenance was $171,563.
The cumulative effect of updated and revised estimates of closure-related costs is recognized in the
period of the change to the extent it relates to current and past operations. The Florida Department of
Environmental Protection approved a post closure operating plan, which permits the Board to fund
closure, and post closure costs as an operating expense using annual appropriations. Since the current
portion of the post closure maintenance liability is expected to be insignificant and will be funded by the
County’s operations budget, the entire post closure maintenance liability is classified as long-term.
The landfill is required by state and federal laws and regulations to make annual contributions to a cash
escrow account to meet financial assurance requirements. During the year, additional funding of
$25,000 and investment earnings of $146 were added to the escrow account. In accordance with laws
and regulations, the landfill had cash and investments of $1,726,667 held for these purposes at
September 30, 2014. 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.
D-30
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 16 - 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. There were no
interfund balances as of September 30, 2014.
NOTE 17 - INTERFUND TRANSFERS
Interfund transfers at September 30, 2014 are as follows:
Transfers to General Fund from:
Road & Bridge Fund $ 500,111
One Cent Infrastructure Surtax Fund 262,191
Municipal Svc District Waste Fund 215,407
Card Sound Road Fund 195,499
Internal Service Funds 716,742
Nonmajor Governmental Funds 3,005,214
Total 4,895,164
Transfers to Road & Bridge Fund from:
Nonmajor Governmental Fund 29,728
Transfers to Governmental Grants Fund from:
General Fund 348,348
Fine & Forfeiture Fund 13,794
Road & Bridge Fund 13,485
Nonmajor Governmental Funds 30,698
Total 406,325
Transfers to Fine & Forfeiture Fund from:
Nonmajor Governmental Funds 1,606,043
D-31
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 17 - INTERFUND TRANSFERS – (Continued)
Transfers to One Cent Infrastructure Surtax Fund from:
Nonmajor Governmental Funds 713,401
Transfers to Debt Service Fund from:
One Cent Infrastructure Surtax Fund 5,068,333
Big Coppitt Wastewater Project Fund 681,938
5,750,271
Transfers to Nonmajor Governmental Funds from:
One Cent Infrastructure Surtax Fund 190,354
Transfers to Marathon Airport Fund from:
Key West Airport Fund 703,305
Total Interfund Transfers $14,294,591
The One Cent Infrastructure Surtax Fund, a major fund, interfund transfers out of $5,068,333 was
related to the funding of debt service and $190,354 was for the partial funding of the construction in the
Impact Fees Fund-Roadway Fund, a nonmajor fund. The Impact Fees Police Facilities Fund, a
nonmajor fund, transferred $106,043 for the purchase of radios and the Infrastructure Revenue Bonds
Series 2007 Fund, a nonmajor fund, transferred $1,500,000 for the partial funding of a county-wide
emergency communications system to the Fine & Forfeiture Fund, a major fund. The Infrastructure
Revenue Bonds Series 2003 Fund, a nonmajor fund, was closed during the year and the remaining
fund balance of $713,401 was transferred to the One Cent Infrastructure Surtax Fund, a major fund.
The $29,728 transferred from Impact Fees Roadways Fund, a nonmajor fund, was for funding the Key
Deer Boulevard roadway improvements. The Big Coppitt Wastewater Project Fund, a major fund,
transfer of $681,938 was for debt service. Transfers to the Governmental Grants Fund of $406,325
represent the match requirements of various grants and the transfer from the Governmental Grants
Fund of $190,354 represents reimbursement for grant eligible costs incurred by a nonmajor
governmental fund. The Key West Airport Fund transfers out of $703,305 to the Marathon Airport Fund
provided $697,500 for grant matching for the terminal expansion and planning studies grants and
$5,805 for qualifying passenger facility charges grant match. The remaining transfers in and out are
related to supporting operations.
NOTE 18 – 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, 2014 is on the following page:
D-32
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 18 – GOVERNMENTAL FUND BALANCE CLASSIFICATIONS -(Continued)
Fine & Road & Governmental
General Forfeiture Bridge Grants
Fund Balances:
Nonspendable:
Inventory $ 4,048 $ - $ - $ -
Total Nonspendable 4,048- - -
Restricted for:
Law Enforcement - 15,349,407- -
Fire & Ambulance - - - -
Public Safety - - - -
Physical Environment - - - -
Transportation - - 11,290,339 -
Housing Programs - - - -
Tourist Development - - - -
Human Services - - - -
Libraries - - - -
Library Donations 116,890- - -
Cultural & Recreation - - - -
Court Programs - - - -
Comprehensive Planning - - - -
Federal & State Grants - - - 2,861,850
Wastewater Projects - - - -
Other Purposes - - - -
Debt Service - - - -
Capital Projects - - - -
Total Restricted 116,89015,349,40711,290,339 2,861,850
Committed to:
Disaster Recovery 10,000,000 - -
Physical Environment - - - -
Wastewater Projects - - - -
Beach Renourishment - - - -
Total Committed 10,000,000- - -
Assigned to:
Other Purposes 33,085- - -
Fire & Ambulance - - - -
Subsequent Year's Expenditures 13,405,521- - -
Total Assigned 13,438,606- - -
Unassigned: 11,967,821- - -
Total Fund Balances $35,527,365$15,349,407$11,290,339 $2,861,850
D-33
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 18 – GOVERNMENTAL FUND BALANCE CLASSIFICATIONS - (Continued)
Cudjoe
Big Nonmajor Total
Regional
One Cent Coppitt Govern- Govern-
Wastewater Wastewater
Infrastruc- All Debt mental mental
Project Project
ture Surtax Service Funds Funds
$ - $ - $ - $ - $ - $ 4,048
- - - - 4,048
-
-
- - - 2,759,901 18,109,308
-
- - - 1,478,439 1,478,439
-
- - - 3,924,402 3,924,402
-
- - - 2,976,490 2,976,490
-
- - - 3,218,282 14,508,621
-
- - - 2,286,315 2,286,315
-
- - - 23,478,276 23,478,276
-
- - - 1,113,010 1,113,010
-
- - - 973,635 973,635
-
- - - 357,451 474,341
-
- - - 1,489,723 1478,723
-
- - - 4,229,723 4,229,723
-
- - - 4,259,348 4,259,348
-
- - - - 2,861,850
7,812,268
- 2,925,640 - 3,161,649 13,899,557
-
- - - 416,272 416,272
-
- - 2,203,381 - 2,203,381
-
17,479,729 - - 1,423,556 18,903,285
7,812,268
17,479,729 2,925,640 2,203,281 57,546,472 117,585,976
-
- - - - 10,000,000
-
- - - 1,759,875 1,759,875
-
- - - 148,294 148,294
-
- - - 209,706 209,706
- - - 2,117,875 12,117,875
-
-
- - - - 33,085
-
- - - 6,152,655 6,152,655
-
- - - - 13,405,521
- - - 6,152,655 19,591,261
-
- - - - 11,967,821
-
$7,812,268
$17,479,729 $2,925,640 $2,203,381 $65,817,002 $161,266,981
D-34
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 19 - RISK MANAGEMENT
The Board 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 Worker's 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 Worker's 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 Board participate in the programs and make payments to the Worker's 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.
Changes in the claims liability amounts in fiscal years 2014 and 2013 were:
Worker’s Group Risk
Comp. Insurance Mgmt Total
Unpaid claims at Sept. 30, 2012 $ 1,812,039$ 1,016,833$ 172,970 $ 3,001,842
Incurred claims
(including IBNRs) 1,579,348 12,632,655 208,818 14,420,821
Claim payments (2,321,486) (12,683,924) (147,878) (15,153,288)
Unpaid claims at Sept. 30, 2013 1,069,901 965,564 233,910 2,269,375
Incurred claims
(including IBNRs) 1,792,409 12,610,989 112,924 14,516,322
Claim payments (1,651,374) (12,532,788) (153,379) (14,337,541)
Unpaid claims at Sept. 30, 2014 $ 1,210,936 $ 1,043,765 $ 193,455 $ 2,448,156
D-35
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 20 – LITIGATION AND CLAIMS
The Board is a defendant in various lawsuits and is involved in other disputes wherein substantial
amounts are claimed. The Board vigorously defends itself with respect to these matters. The Board’s
practice is to record claims when a loss is probable and a loss becomes fixed or determinable in
amount.
As a result of regulations adopted to protect the environment and manage growth, the Board is involved
in a handful of law suits. 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 trial
needs to occur first. It is expected that the jury will assign a value of approximately $250,000.
Attorney fees and interest would be in addition to this estimate but the amounts for these cannot
be reasonably estimated. The Board has not recorded any liability for this claim in its financial
statements due to the expectation that this will be overturned upon appeal.
In the second regulatory takings claim, the liability has been judicially determined against the
County and State of Florida. Based on the Court’s order of taking, which will be used to
compute the ultimate award, an estimate of the amount or range of potential losses ranges from
$200,000 to $3,000,000. Attorney fees and post judgment interest will be assessed in addition
to this amount but cannot be determined or estimated at this time. The Board has not recorded
any liability for this claim in its financial statements but the minimum estimate of $200,000 is
reflected in the government-wide financial statements of the County.
In the opinion of the Board, it is reasonably possible that there are other open suits and claims that
could result in judgments or settlements which, in aggregate, would have a material adverse effect on
the Board's financial condition. Based on the uncertainty at this stage of the proceedings, an estimate
of the amount or a range of potential losses cannot be determined.
NOTE 21 - COMMITMENTS AND CONTINGENCIES
Grant Programs - The Board 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 Board 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.
D-36
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2014
NOTE 22 – CHANGE IN ACCOUNTING PRINCIPLES
The Board implemented GASB Statement 65, Items Previously Reported as Assets and Liabilities, in
the fiscal year ending September 30, 2014. The implementation of GASB 65 requires that deferred
costs from refunding debt, which were previously deferred and amortized as part of debt, be presented
as deferred outflows of resources and bond issuance costs, which were previously deferred and
amortized, be included in current expenditures. This Statement had no effect on the Board.
In addition the County implemented GASB 67, Financial Reporting for Pension Plans – AnAmendment
of GASB Statement No. 25, in the fiscal year ending September 30, 2014. This implementation
resulted in additional disclosures in the footnotes in the current year.
NOTE 23 – SUBSEQUENT EVENTS
On October 21, 2014, the Board issued $31,885,000 Monroe County, Florida Infrastructure Sales
Surtax Improvement and Refunding Revenue Bond, Series 2014. This bond refunded the outstanding
Infrastructure Sales Surtax Revenue Bonds, Series 2003 by funding an escrow account with
$7,097,181 to redeem the refunded bonds on November 20, 2014, paid issuance costs of $96,128 and
funded the Cudjoe Key Wastewater project with $15,000,000 and other construction projects with
$9,691,691. The interest rate for the bond is 2.36% with a final maturity of April 1, 2024.
On October 21, 2014, the Board issued a Monroe County, Florida Infrastructure Sales Surtax Master
Revenue Bond (PNC Bank Line of Credit), Series 2014 for a non-revolving line of credit arrangement
not to exceed $16,000,000 in aggregate principal under which the County may draw moneys from time
to time to finance or refinance the costs of projects. The interest rate is variable subject to monthly
adjustment with a maturity date of December 31, 2016, unless extended under the terms of the
agreement.
Management has evaluated subsequent events through March 31, 2015, in connection with the
preparation of these financial statements, which is the date the financial statements were available to
be issued.
D-37
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
REQUIRED SUPPLEMENTARY INFORMATION
YEAR ENDED SEPTEMBER 30, 2014
SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY AND RELATED RATIOS
PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES
2014
Total pension liability
Service cost$ 24,003
Interest 15,833
Change of benefit terms -
Differences between expected and actual experience(24,186)
Changes of assumptions 39,609
Benefit payments (including refunds of member contributions)(28,065)
Net change in total pension liability 27,194
Total pension liability - beginning 781,709
Total pension liability - ending (a)$808,903
Plan fiduciary net position
Contributions - employer$ 28,145
Contributions - State -
Contributions - employee -
Net investment income 3,333
Benefit payments (including refunds of member contributions)(28,065)
Administrative expense (4,508)
Other -
Net change in plan fiduciary net position (1,095)
Plan fiduciary net position - beginning 849,903
Plan fiduciary net position - ending (b)$848,808
County's net pension asset - ending (a) - (b)$(39,905)
Plan fiduciary net position as a percentage of the total
pension liability104.93%
Covered employee payrollN/A
County's net pension liability as percentage of covered
employee payrollN/A
Notes to Schedule:
Benefit changes. There have been no changes in benefit provisions since GASB 67 implementation.
Change of assumptions. The assumed investment rate of return is lowered from 1.5% to 1.0%.
E-1
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
REQUIRED SUPPLEMENTARY INFORMATION
YEAR ENDED SEPTEMBER 30, 2014
SCHEDULE OF EMPLOYER CONTRIBUTIONS
PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES
Year Ending December 31,2013201220112010
Actuarially determined contribution28,575$ 31,588$ 22,945$ 25,719$
Contributions in relation to the actuarially
31,58828,575 22,945 25,719
determined contribution
Contribution deficiency (excess)-$ -$ -$ -$
Covered employee payroll-$ -$ -$ -$
Contributions as a percentage of covered
N/AN/AN/AN/A
employee payroll
Notes to Schedule
Valuation Date:
Actuarially determined contribution rates are calculated as of December 31, which is one year prior to
the end of the fiscal year in which contributions are reported.
Methods and Assumptions used to determine contribution rates:
No increase as benefits are based on a flat amount per year
Inflation
of service
Salary IncreasesN/A
Investment rate of return1.0% net of investment expenses, including inflation
Retirement ageN/A
MortalityN/A
E2
200920082007200620052004
$ 24,77723,714$ 28,477$ 61,050$ 58,904$ 73,840$
24,77723,714 28,477 61,050 58,904 73,840
$ --$ -$ -$ -$ -$
$ --$ -$ -$ -$ -$
N/AN/AN/AN/AN/AN/A
E3
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
REQUIRED SUPPLEMENTARY INFORMATION
YEAR ENDED SEPTEMBER 30, 2014
SCHEDULE OF FUNDING PROGRESS
PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES
Actuarial
Actuarial Value Accrued Liability Unfunded AAL
of Assets
(AAL) - Entry Age(UAAL)Funded Ratio
Actuarial
Valuation Date
(a)(b)(b) - (a)(a)/(b)
12/31/2008817,512$ 841,547$ 24,035$ 97%
12/31/2009831,083$ 884,715$ 53,632$ 94%
12/31/2010841,980$ 870,648$ 28,668$ 97%
12/31/2011841,980$ 870,648$ 28,668$ 97%
12/31/2012849,903$ 934,705$ 84,802$ 91%
12/31/2013857,126$ 916,684$ 59,558$ 94%
SCHEDULE OF EMPLOYER CONTRIBUTIONS
County
Annual
Year Ended
RequiredPercentage
ContributionsContributed
December 31,
200824,777$ 100%
200923,714$ 100%
201025,719$ 100%
201122,945$ 100%
201231,588$ 100%
201328,575$ 100%
E4
UAAL as a
Percentage of
Covered Payroll
Covered Payroll
( c )(\[b-a\]/c)
n/an/a
n/an/a
n/an/a
n/an/a
n/an/a
n/an/a
E5
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
ONE CENT INFRASTRUCTURE SURTAX CAPITAL PROJECT FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes16,798,932$ 16,798,932$ 18,653,970$ 1,855,038$
Intergovernmental- 149,308 149,308 -
Investment Income100,008 100,011 28,028 (71,983)
Miscellaneous- 700,000 701,719 1,719
Total Revenues16,898,940 17,748,251 19,533,025 1,784,774
EXPENDITURES:
Current:
Capital Outlay:
General Government1,437,007 2,362,350 1,873,123 489,227
Public Safety
Public Safety Capital Projects1,521,124 3,517,690 291,893 3,225,797
Med Exam Environmental Mitigtn5,500 5,500 5,500 -
Total Public Safety1,526,624 3,523,190 297,393 3,225,797
Physical Environment2,221,028 2,721,028 931,169 1,789,859
Transportation: Const. Mgmt5,000,000 5,009,500 108,984 4,900,516
Culture and Recreation7,610,500 7,610,500 5,229,526 2,380,974
Total Capital Outlay Expenditures17,795,159 21,226,568 8,440,195 12,786,373
Excess/Deficiency of Revenues
Over/(Under) Expenditures(896,219) (3,478,317) 11,092,830 14,571,147
Other Financing Sources/(Uses):
Reserve for Contingencies(1,000,000) (224,111) - 224,111
Reserve for Cash Balance(1,320,614) (1,320,614) - 1,320,614
Transfers from Other Funds- 1,996,566 713,401 (1,283,165)
Transfers to Other Funds(5,789,612) (5,979,966) (5,520,878) 459,088
Total Other Financing Sources/(Uses)(8,110,226) (5,528,125) (4,807,477) 720,648
Net Change in Fund Balances (9,006,442)(9,006,445) 6,285,353 15,291,795
Fund Balances, October 1 9,006,4429,006,445 11,194,376 2,187,934
$ -$ 17,479,729$$17,479,729
Fund Balances, September 30-
F-1
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
BIG COPPITT WASTEWATER CAPITAL PROJECTS FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes-$ -$ 815$ 815$
Licenses and Permits550,000 550,000 397,994 (152,006)
Investment Income10,000 10,000 128,617 118,617
Miscellaneous- - 41,123 41,123
Total Revenues560,000 560,000 568,549 8,549
EXPENDITURES:
Current:
Capital Outlay:
Big Coppitt Refunds5,000 5,000 - 5,000
Big Coppitt Special Assessment50,000 50,000 43,253 6,747
Total Physical Environment55,000 55,000 43,253 11,747
Excess/Deficiency of Revenues
Over/(Under) Expenditures505,000 505,000 525,296 20,296
Other Financing Sources/(Uses):
Transfers from Constitutional Officers- - 878 878
Transfers to Other Funds(682,000) (682,000) (681,938) 62
Total Other Financing Sources/(Uses)(682,000) (682,000) (681,060) 940
Net Change in Fund Balances (177,000)(177,000) (155,764) 21,236
Fund Balances, October 1 177,000177,000 3,081,404 2,904,404
Fund Balances, September 30$ --$ 2,925,640$ 2,925,640$
F-2
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
CUDJOE REGIONAL WASTEWATER CAPITAL PROJECTS FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes-$ -$ 467$ 467$
Licenses and Permits725,000 725,000 - (725,000)
Intergovernmental- - 25,290,595 25,290,595
Investment Income- - 842,137 842,137
Miscellaneous- - 161,893 161,893
Total Revenues725,000 725,000 26,295,092 25,570,092
EXPENDITURES:
Current:
Capital Outlay:
Physical Environment Projects
Cudjoe Regional Wastewater Project
County Funding- 1,750,000 8,825,233 (7,075,233)
Grant Funding30,000,000 30,000,000 21,786,579 8,213,421
Loan Funding27,404,000 56,654,000 27,081,336 29,572,664
Special Assessment Refunds25,000 25,000 - 25,000
Special Assessments678,390 678,390 152,392 525,998
Total Physical Environment58,107,390 89,107,390 57,845,540 31,261,850
Excess/Deficiency of Revenues
Over/(Under) Expenditures(57,382,390) (88,382,390) (31,550,448) 56,831,942
Other Financing Sources/(Uses):
Debt Proceeds- 58,404,000 27,412,932 (30,991,068)
Transfers from Other Funds- 30,000,000 - (30,000,000)
Transfers from Consititutional Officers- - 2,336 2,336
Total Other Financing Sources/(Uses)- 88,404,000 27,415,268 (60,988,732)
Net Change in Fund Balances 21,610(57,382,390) (4,135,180) (4,156,790)
Fund Balances, October 1 (21,610)57,382,390 11,947,448 11,969,058
Fund Balances, September 30$ --$ 7,812,268$ 7,812,268$
F-3
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
ALL DEBT SERVICE FUNDS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income8,000$ 8,000$ 7,986$ (14)$
EXPENDITURES:
Current:
Debt Service:
2003 Revenue Bonds:
Principal1,575,000 1,575,000 1,575,000 -
Interest301,515 301,515 301,515 -
Total 2003 Revenue Bonds1,876,515 1,876,515 1,876,515 -
2007 Revenue Bonds
Principal2,975,000 2,975,000 2,975,000 -
Interest647,300 647,300 647,300 -
Other Debt Service Costs255 255 255 -
Total 2007 Revenue Bonds3,622,555 3,622,555 3,622,555 -
2013 Revenue Bonds:
Principal490,080 490,080 - 490,080
Total 2013 Revenue Bonds490,080 490,080 - 490,080
Clean Water SRF Loan
Principal440,339 440,339 440,338 1
Interest241,661 241,661 241,600 61
Total Clean Water SRF Loan682,000 682,000 681,938 62
Total Expenditures6,671,150 6,671,150 6,181,008 490,142
Excess/Deficiency of Revenues
Over/(Under) Expenditures(6,663,150) (6,663,150) (6,173,022) 490,128
Other Financing Sources/(Uses):
Reserve for Contingencies(500,000) (500,000) - 500,000
Reserve for Cash Balance(813,195) (813,195) - 813,195
Transfers from Other Funds- 6,671,150 5,750,271 (920,879)
Total Other Financing Sources/(Uses)(1,313,195) 5,357,955 5,750,271 392,316
Net Change in Fund Balances (1,305,195)(7,976,345) (422,751) 882,444
Fund Balances, October 1 1,305,1957,976,345 2,626,132 1,320,937
Fund Balances, September 30$ --$ 2,203,381$ 2,203,381$
F-4
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2014
SPECIAL
TouristTourist
AffordableDevelopmentDevelopmentTourist
HousingAll DistrictsAdmin & PromoDevelopment
ProgramsTwo CentTwo CentDistrict #One
ASSETS
Cash and Cash Equivalents
$ 1,604,455131,333$ 2,678,957$ 1,832,709$
Investments
3,125,836255,866 5,229,766 3,570,524
Accounts Receivable, Net
8,364- - -
Assessments Receivable
-- - -
Due from Other Governmental Units
-- - -
Due from Constitutional Officers
668,147- 1,377,783 1,131,510
Mortgages/Notes Receivable
-- - -
Allowance for Mortgages/Notes Receivable
-- - -
Advances to Other Governments
-- - -
Interest Receivable
6,076497 10,213 6,940
Total Assets
$ 5,412,878387,696$ 9,296,719$ 6,541,683$
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable
$ 403,042-$ 1,236,772$ 83,056$
Retainage Payable
-- - 22,326
Accrued Wages and Benefits Payable
-- - -
Due to Other Governmental Units
-- - 30,992
Due to Constitutional Officers
-- - -
Deposits in Escrow
-- - -
Total Liabilities
403,042- 1,236,772 136,374
Deferred Inflows of Resources:
Advances from Other Governments
-- - -
Unavailable Revenues
-- - -
Total Deferred Inflows of Resources
-- - -
Fund Balances:
Nonspendable- - - -
Restricted387,696 5,009,836 8,059,947 6,195,603
Committed- - - 209,706
Assigned- - - -
Unassigned- - - -
Total Fund Balances387,696 5,009,836 8,059,947 6,405,309
Total Liabilities, Deferred Inflows of
Resources and Fund Balances387,696$ 5,412,878$ 9,296,719$ 6,541,683$
G-1
REVENUE FUNDS
TouristTouristTouristTouristImpact Fees,
DevelopmentDevelopmentDevelopmentDevelopmentImpact Fees,Parks and
District #TwoDistrict #ThreeDistrict #FourDistrict #FiveRoadwaysRecreation
$ 379,971173,004$ 379,473$ 308,745$ 1,264,684$ 170,550$
740,268337,050 739,298 601,188 2,463,886 332,268
-- - - - -
-- - - - -
-- - - - -
307,107127,330 230,048 249,935 - -
-- - - - -
-- - - - -
-- - - - -
1,439655 1,437 1,168 4,789 646
$ 1,428,785638,039$ 1,350,256$ 1,161,036$ 3,733,359$ 503,464$
$ 133,52818,543$ 64,932$ 84,954$ 274,895$ -$
-- - - 240,182 -
-1,796 - 1,006 - -
44,562- 15,905 - - -
-- - - - -
-- - - - -
178,09020,339 80,837 85,960 515,077 -
-- - - - -
-- - - - -
-- - - - -
-- - - - -
1,250,695617,700 1,269,419 1,075,076 3,218,282 503,464
-- - - - -
-- - - - -
-- - - - -
1,250,695617,700 1,269,419 1,075,076 3,218,282 503,464
$ 1,428,785638,039$ 1,350,256$ 1,161,036$ 3,733,359$ 503,464$
(Continued)
G-2
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING BALANCE SHEET- CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2014
SPECIAL
Impact Fees,Impact Fees,Impact Fees,Impact Fees,
LibrariesSolid Waste Police Facilities Fire & EMS
ASSETS
Cash and Cash Equivalents
$ 23,024329,342$ 14,646$ 16,693$
Investments
44,856641,631 28,532 32,520
Accounts Receivable, Net
-- - -
Assessments Receivable
-- - -
Due from Other Governmental Units
1921,415 45 16
Due from Constitutional Officers
-- - -
Mortgages/Notes Receivable
-- - -
Allowance for Mortgages/Notes Receivable
-- - -
Advances to Other Governments
-- - -
Interest Receivable
871,247 56 63
Total Assets
$ 68,159973,635$ 43,279$ 49,292$
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable
$ --$ -$ -$
Retainage Payable
-- - -
Accrued Wages and Benefits Payable
-- - -
Due to Other Governmental Units
-- - -
Due to Constitutional Officers
-- - -
Deposits in Escrow
-- - -
Total Liabilities
-- - -
Deferred Inflows of Resources:
Advances from Other Governments
-- - -
Unavailable Revenues
-- - -
Deferred Inflows of Resources
-- - -
Fund Balances:
Nonspendable- - - -
Restricted973,635 68,159 43,279 49,292
Committed- - - -
Assigned- - - -
Unassigned- - - -
Total Fund Balances973,635 68,159 43,279 49,292
Total Liabilities, Deferred Inflows of
Resources and Fund Balances973,635$ 68,159$ 43,279$ 49,292$
G-3
REVENUE FUNDS
Fire & AmbUpper KeysUnincorp.Unincorp.
Impact Fees,District #1,Health CareArea ServiceArea Service
Fair ShareLower andSpecialDistrict,Dist., PlanningMunicipal
HousingMiddle KeysTaxing DistrictParks & Rec.Bldg. & ZoningPolicing
$ 1,902,930173,280$ 327,901$ 360,484$ 2,478,969$ 585,866$
4,371,666337,588 638,823 696,928 4,959,895 1,141,398
65,508- - - - -
-- - - - -
8,459- - - 480,142
193,526- - 172 37,622 309,477
-- - - - -
-- - - - -
-- - - - -
8,498656 1,242 1,354 9,641 2,219
$ 6,550,587511,524$ 967,966$ 1,058,938$ 7,966,269$ 2,038,960$
$ 207,558-$ 13,133$ 46,053$ 94,378$ -$
-- - - - -
189,309- 280 10,792 147,780 -
1,065- - 8,512 9,678 -
-- - - - -
-- - 7,322 42,529 -
397,932- 13,413 72,679 294,365 -
-- - - - -
-- - - - -
-- - - - -
-- - - - -
-511,524 954,553 986,259 7,671,904 2,038,960
-- - - - -
6,152,655- - - - -
-- - - - -
6,152,655511,524 954,553 986,259 7,671,904 2,038,960
$ 6,550,587511,524$ 967,966$ 1,058,938$ 7,966,269$ 2,038,960$
(Continued)
G-4
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING BALANCE SHEET- CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2014
SPECIAL
911Duck KeyLocal
EnhancementSecurityHousingBoating
FeesDistrictAssistanceImprovement
ASSETS
Cash and Cash Equivalents
$ 134,44376$ 469,881$ 845,151$
Investments
261,926- 915,434 1,646,542
Accounts Receivable, Net
-- - -
Assessments Receivable
-- - -
Due from Other Governmental Units
-36,488 - -
Due from Constitutional Officers
467- - 56,850
Mortgages/Notes Receivable
-- 8,667,291 -
Allowance for Mortgages/Notes Receivable
-- (8,667,291) -
Advances to Other Governments
-- - -
Interest Receivable
509- 1,780 3,201
Total Assets
$ 397,34536,564$ 1,387,095$ 2,551,744$
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable
$ 4,439-$ -$ 98,749$
Retainage Payable
-- - -
Accrued Wages and Benefits Payable
-- - 1,354
Due to Other Governmental Units
-- - 22,776
Due to Constitutional Officers
-36,564 - -
Deposits in Escrow
-- - -
Total Liabilities
4,43936,564 - 122,879
Deferred Inflows of Resources:
Advances from Other Governments
-- - -
Unavailable Revenues
-- - -
Deferred Inflows of Resources
-- - -
Fund Balances:
Nonspendable- - - -
Restricted- 392,906 1,387,095 2,428,865
Committed- - - -
Assigned- - - -
Unassigned- - - -
Total Fund Balances- 392,906 1,387,095 2,428,865
Total Liabilities, Deferred Inflows of
Resources and Fund Balances36,564$ 397,345$ 1,387,095$ 2,551,744$
G-5
REVENUE FUNDS
MiscellaneousLawCourtDrugMarathon
SpecialEnvironmentalEnforcementFacilityAbuseMunicipal
RevenueRestorationTrustFeesTrustService
$ 595,758817,351$ 193,072$ 820,375$ 50,117$ 854$
1,166,8971,643,587 376,148 1,598,272 97,640 1,660
-- - - - -
-- - - - -
-- - - - -
-126,851 110,711 93,017 12,062 -
-- - - - -
-- - - - -
-- - - - -
2,2683,195 731 3,106 189 3
$ 1,764,9232,590,984$ 680,662$ 2,514,770$ 160,008$ 2,517$
$ 3,45513,151$ -$ 12,159$ 1,551$ -$
-- - - - -
1,593- - 1,489 - -
-- - - - -
-38,600 3,000 - - -
-- - - - -
5,04851,751 3,000 13,648 1,551 -
-30,271 - - - -
-- - - - -
-30,271 - - - -
-- - - - -
-2,508,962 677,662 2,501,122 158,457 2,517
1,759,875- - - -
-- - - - -
-- - - - -
1,759,8752,508,962 677,662 2,501,122 158,457 2,517
$ 1,764,9232,590,984$ 680,662$ 2,514,770$ 160,008$ 2,517$
(Continued)
G-6
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING BALANCE SHEET- CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2014
SPECIAL
Bay PointBig CoppittKey Largo
WastewaterWastewaterWastewaterStock Island
MSTUMSTUMSTUWastewater
ASSETS
Cash and Cash Equivalents
$ 60217,179$ 2,647$ 214,646$
Investments
1,14733,468 5,156 418,205
Accounts Receivable, Net
-- - -
Assessments Receivable
-- - 310,049
Due from Other Governmental Units
-- -
Due from Constitutional Officers
-- - 467
Mortgages/Notes Receivable
-- - -
Allowance for Mortgages/Notes Receivable
-- - -
Advances to Other Governments
-- - -
Interest Receivable
265 10 813
Total Assets
$ 1,75150,712$ 7,813$ 944,180$
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable
$ --$ -$ -$
Retainage Payable
-- - -
Accrued Wages and Benefits Payable
-383 312 183
Due to Other Governmental Units
-- - -
Due to Constitutional Officers
-- - -
Deposits in Escrow
-- - -
Total Liabilities
-383 312 183
Deferred Inflows of Resources:e
Advances from Other GovernmentsA
-- - -
Unavailable Revenues
-- - 295,253
Deferred Inflows of Resources
-- - 295,253
Fund Balances:
Nonspendable- - - -
Restricted- - - 648,744
Committed50,329 1,751 7,501 -
Assigned- - - -
Unassigned- - - -
Total Fund Balances50,329 1,751 7,501 648,744
Total Liabilities, Deferred Inflows of
Resources and Fund Balances50,712$ 1,751$ 7,813$ 944,180$
G-7
REVENUE FUNDS
Cudjoe-Long Key,
SugarloafConch KeyLaytonDuck KeyBuilding
MSTUMSTUMSTUMSTUFund
$ 1721,410$ 6,278$ 22,416$ 769,262$
3352,747 12,231 43,671 1,498,694
-- - - -
-- - - -
-- - - -
-10 - 3 -
-- - - -
-- - - -
-- - - -
15 24 85 2,913
$ 5084,172$ 18,533$ 66,175$ 2,270,869$
$ --$ -$ -$ 137,077$
-- - - -
40- 494 141 42,774
-- - - 64,510
-- - - -
-- - - 8,110
40- 494 141 252,471
-- - - -
-- - - -
-- - - -
-- - - -
-- - - 2,018,398
4684,172 18,039 66,034 -
-- - - -
-- - - -
4684,172 18,039 66,034 2,018,398
$ 5084,172$ 18,533$ 66,175$ 2,270,869$
(Continued)
G-8
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING BALANCE SHEET- CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2014
CAPITAL
Total NonmajorClerk'sInfrastructure
Special RevRevenueRevenue Bonds
FundsNoteSeries 2003
ASSETS
Cash and Cash Equivalents
$ 34,59420,098,706$ -$
Investments
67,39740,013,547 -
Accounts Receivable, Net
-73,872 -
Assessments Receivable
-310,049 -
Due from Other Governmental Units
-526,757 -
Due from Constitutional Officers
-5,033,095 -
Mortgages/Notes Receivable
-8,667,291 -
Allowance for Mortgages/Notes Receivable
-(8,667,291) -
Advances to Other Governments
-- -
Interest Receivable
13177,823 -
Total Assets
$ 102,12266,133,849$ -$
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable
$ -2,931,425$ -$
Retainage Payable
-262,508 -
Accrued Wages and Benefits Payable
-399,726 -
Due to Other Governmental Units
-198,000 -
Due to Constitutional Officers
-78,164 -
Deposits in Escrow
-57,961 -
Total Liabilities
-3,927,784 -
Deferred Inflows of Resources:
Advances from Other Governments
-30,271 -
Unavailable Revenues
-295,253 -
Deferred Inflows of Resources
-325,524 -
Fund Balances:
Nonspendable- - -
Restricted53,610,011 102,122 -
Committed2,117,875 - -
Assigned6,152,655 - -
Unassigned- - -
Total Fund Balances61,880,541 102,122 -
Total Liabilities, Deferred Inflows of
Resources and Fund Balances66,133,849$ 102,122$ -$
G-9
PROJECT FUNDS
Total
InfrastructureDuck KeyNonmajor
Revenue BondsWastewaterGovernmental
Series 2007ProjectFunds
$ 799,4411,324,428$ 22,257,169$
1,557,489- 41,638,433
-- 73,872
691,559- 1,001,608
-- 526,757
56- 5,033,151
-- 8,667,291
-- (8,667,291)
150,659- 150,659
3,027- 80,981
$ 3,202,2311,324,428$ 70,762,630$
$ -2,906$ 2,934,331$
-- 262,508
31688 400,130
-- 198,000
-- 78,164
-- 57,961
3162,994 3,931,094
e
A
- 30,271-
689,010- 984,263
689,010- 1,014,534
-- -
2,512,9051,321,434 57,546,472
-- 2,117,875
-- 6,152,655
-- -
2,512,9051,321,434 65,817,002
$ 3,202,2311,324,428$ 70,762,630$
G-10
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
SPECIAL
TouristTourist
AffordableDevelopmentDevelopmentTourist
HousingAll DistrictsAdmin & PromoDevelopment
ProgramsTwo CentTwo CentDistrict #One
Revenues:
Taxes-$ 4,972,891$ 10,304,808$ 8,675,138$
Licenses and Permits- - - -
Intergovernmental- - - -
Charges for Services- - - -
Fines and Forfeitures- - - -
Investment Income914 11,190 20,596 13,476
Miscellaneous5,998 - 8,607 -
Total Revenues6,912 4,984,081 10,334,011 8,688,614
Expenditures:
Current:
General Government- - - -
Public Safety- - - -
Physical Environment- - - -
Transportation- - - -
Economic Environment- 4,470,205 10,058,900 7,437,724
Human Services- - - -
Culture and Recreation- - - -
Court Related- - - -
Capital Projects- - - -
Total Expenditures- 4,470,205 10,058,900 7,437,724
Excess/Deficiency of Revenues
Over/(Under) Expenditures6,912 513,876 275,111 1,250,890
Other Financing Sources/(Uses):
Transfers from Other Funds- - - -
Transfers to Other Funds- (65,353) (62,133) (108,534)
Debt Proceeds- - - -
Transfers from Constitutional Officers- 82,350 163,898 140,315
Total Other Financing Sources/(Uses)- 16,997 101,765 31,781
Net Change in Fund Balances 530,8736,912 376,876 1,282,671
Fund Balances-October 1 4,478,963380,784 7,683,071 5,122,638
$ 5,009,836387,696$ 8,059,947$ 6,405,309$
Fund Balances-September 30
G-11
REVENUE FUNDS
TouristTouristTouristTouristImpact Fees,
DevelopmentDevelopmentDevelopmentDevelopmentImpact Fees,Parks and
District #TwoDistrict #ThreeDistrict #FourDistrict #FiveRoadwaysRecreation
$ 2,181,447906,554$ 1,678,018$ 1,836,542$ -$ -$
-- - - 170,854 58,480
-- - - - -
-- - - - -
-- - - - -
3,843935 3,316 2,369 12,777 1,106
-- 3,723 - - -
2,185,290907,489 1,685,057 1,838,911 183,631 59,586
-- - - - -
-- - - - -
-- - - - -
-- - - 2,440,759 -
2,479,346601,089 1,792,781 1,611,998 - -
-- - - - -
-- - - - -
-- - - - -
-- - - - -
2,479,346601,089 1,792,781 1,611,998 2,440,759 -
(294,056)306,400 (107,724) 226,913 (2,257,128) 59,586
-- - - 190,354 -
(16,146)(27,202) (14,779) (53,384) (29,728) -
-- - - - -
35,02214,493 26,826 29,590 - -
18,876(12,709) 12,047 (23,794) 160,626 -
(275,180)293,691 (95,677) 203,119 (2,096,502) 59,586
1,525,875324,009 1,365,096 871,957 5,314,784 443,878
$ 1,250,695617,700$ 1,269,419$ 1,075,076$ 3,218,282$ 503,464$
(Continued)
G-12
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES-CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
SPECIAL
Impact Fees,Impact Fees,Impact Fees,Impact Fees,
LibrariesSolid WastePolice Facilities Fire & EMS
Revenues:
Taxes-$ -$ -$ -$
Licenses and Permits51,185 13,441 29,629 20,428
Intergovernmental- - - -
Charges for Services- - - -
Fines and Forfeitures- - - -
Investment Income2,663 140 362 84
Miscellaneous- - - -
Total Revenues53,848 13,581 29,991 20,512
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) Expenditures53,848 13,581 29,991 20,512
Other Financing Sources/(Uses):
Transfers from Other Funds- - - -
Transfers to Other Funds- - (106,043) -
Debt Proceeds- - - -
Transfers from Constitutional Officers- - - -
Total Other Financing Sources/(Uses)- - (106,043) -
Net Change in Fund Balances 13,58153,848 (76,052) 20,512
Fund Balances-October 1 54,578919,787 119,331 28,780
$ 68,159973,635$ 43,279$ 49,292$
Fund Balances-September 30
G-13
REVENUE FUNDS
Fire & AmbUpper KeysUnincorp.Unincorp.
Impact Fees,District #1,Health CareArea ServiceArea Service
Fair ShareLower andSpecialDistrict,Dist., PlanningMunicipal
HousingMiddle KeysTaxing DistrictParks & Rec.Bldg. & ZoningPolicing
$ 10,332,079-$ -$ 1,701,551$ 934,765$ 4,021,185$
-88,756 - - - -
139,279- - 7,274 5,571,755 -
600,291- - 43,985 1,035,687 3,369,260
-- - - 447,805 -
25,7631,089 2,636 4,256 19,259 5,720
1,312- - 54,338 7,276 -
11,098,72489,845 2,636 1,811,404 8,016,547 7,396,165
-- - 2,672,429 202,269
9,660,242- - - 2,443,007 7,313,682
-- - - 583,865 -
-- - - -
-- - - - -
-- 203,065 - - -
-- - 1,458,814 - -
-- - - - -
-- - - - -
9,660,242- 203,065 1,458,814 5,699,301 7,515,951
1,438,48289,845 (200,429) 352,590 2,317,246 (119,786)
-- - - -
(1,071,005)- (19,137) (280,733) (1,282,028) (9,194)
-- - - - -
192,403- - - 36,703 309,093
(878,602)- (19,137) (280,733) (1,245,325) 299,899
559,88089,845 (219,566) 71,857 1,071,921 180,113
5,592,775421,679 1,174,119 914,402 6,599,983 1,858,847
$ 6,152,655511,524$ 954,553$ 986,259$ 7,671,904$ 2,038,960$
(Continued)
G-14
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES-CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
SPECIAL
911Duck KeyLocal
EnhancementSecurityHousingBoating
FeesDistrictAssistanceImprovement
Revenues:
Taxes-$ 23$ -$ -$
Licenses and Permits- 75,633 - -
Intergovernmental- - 365,717 -
Charges for Services449,689 - - 673,497
Fines and Forfeitures- - - -
Investment Income281 968 2,751 5,921
Miscellaneous- - 25,000 2,678
Total Revenues449,970 76,624 393,468 682,096
Expenditures:
Current:
General Government- 7 - -
Public Safety449,970 65,760 - -
Physical Environment- - 727,008
Transportation- - - -
Economic Environment- - 6,857 -
Human Services- - - -
Culture and Recreation- - - -
Court Related- - - -
Capital Projects- - - -
Total Expenditures449,970 65,767 6,857 727,008
Excess/Deficiency of Revenues
Over/(Under) Expenditures- 10,857 386,611 (44,912)
Other Financing Sources/(Uses):
Transfers from Other Funds- - - -
Transfers to Other Funds- - - -
Debt Proceeds- - - -
Transfers from Constitutional Officers- 467 - -
Total Other Financing Sources/(Uses)- 467 - -
Net Change in Fund Balances 11,324- 386,611 (44,912)
Fund Balances-October 1 381,582- 1,000,484 2,473,777
$ 392,906-$ 1,387,095$ 2,428,865$
Fund Balances-September 30
G-15
REVENUE FUNDS
Law CourtDrugMarathon
Miscellaneous
SpecialEnvironmentalEnforcementFacilityAbuseMunicipal
RevenueRestorationTrustFeesTrustService
$ --$ -$ -$ -$ 558$
-64,975 - - - -
-- - - - -
-362,938 - 523,773 36,278 -
500,862230,830 - - - -
4,0005,830 1,416 5,435 361 6
-- - - - -
504,862664,573 1,416 529,208 36,639 564
-- - - - -
-169,950 62,738 - - -
179,035- - - - -
-- - - - -
-- - - - -
-137,323 - - 25,255 -
-20,341 - - - -
-239,128 - 158,633 - -
-- - - - -
179,035566,742 62,738 158,633 25,255 -
325,82797,831 (61,322) 370,575 11,384 564
-- - - - -
-(26,283) - - - -
-- - - - -
-- 110,699 - - -
-(26,283) 110,699 - - -
325,82771,548 49,377 370,575 11,384 564
1,434,0482,437,414 628,285 2,130,547 147,073 1,953
$ 1,759,8752,508,962$ 677,662$ 2,501,122$ 158,457$ 2,517$
(Continued)
G-16
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES-CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
SPECIAL
Bay PointBig CoppittKey Largo
WastewaterWastewaterWastewaterStock Island
MSTUMSTUMSTUWastewater
Revenues:
Taxes-$ -$ -$ -$
Licenses and Permits- - - 42,417
Intergovernmental- - - -
Charges for Services- - - -
Fines and Forfeitures- - - -
Investment Income123 4 20 14,559
Miscellaneous- - - 4,011
Total Revenues123 4 20 60,987
Expenditures:
Current:
General Government- - - 1,000
Public Safety- - - -
Physical Environment1,826 - 1,210 10,015
Transportation- - - -
Economic Environment- - - -
Human Services- - - -
Culture and Recreation- - - -
Court Related- - - -
Capital Projects- - - -
Total Expenditures1,826 - 1,210 11,015
Excess/Deficiency of Revenues
Over/(Under) Expenditures(1,703) 4 (1,190) 49,972
Other Financing Sources/(Uses):
Transfers from Other Funds- - - -
Transfers to Other Funds- - - -
Debt Proceeds- - - -
Transfers from Constitutional Officers- - - 467
Total Other Financing Sources/(Uses)- - - 467
Net Change in Fund Balances 4(1,703) (1,190) 50,439
Fund Balances-October 1 1,74752,032 8,691 598,305
$ 1,75150,329$ 7,501$ 648,744$
Fund Balances-September 30
G-17
REVENUE FUNDS
Cudjoe-Long Key,
SugarloafConch KeyLaytonDuck KeyBuilding
MSTUMSTUMSTUMSTUFund
$ -673$ -$ 223$ -$
-- - - 3,347,025
-- - - -
-- - - 85,502
-- - - -
247 46 168 4,095
-- - - 32,430
2720 46 391 3,469,052
-11 - - -
-- - - 2,601,814
50013,718 1,299 4,792 -
-- - -
-- - - -
-- - - -
-- - - -
-- - - -
-- - - -
50013,729 1,299 4,792 2,601,814
(498)(13,009) (1,253) (4,401) 867,238
-- - - -
-- - - -
-- - - -
-9 - 3 -
-9 - 3 -
(498)(13,000) (1,253) (4,398) 867,238
96617,172 19,292 70,432 1,151,160
$ 4684,172$ 18,039$ 66,034$ 2,018,398$
(Continued)
G-18
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES-CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
CAPITAL
Total NonmajorClerk'sInfrastructure
Special RevRevenueRevenue Bonds
FundsNoteSeries 2003
Revenues:
Taxes47,546,455$ -$ -$
Licenses and Permits3,962,823 - -
Intergovernmental6,084,025 - -
Charges for Services7,180,900 - -
Fines and Forfeitures1,179,497 - -
Investment Income178,527 243 2,053
Miscellaneous145,373 - -
Total Revenues66,277,600 243 2,053
Expenditures:
Current:
General Government2,875,716 - -
Public Safety22,767,163 - -
Physical Environment1,523,268 - -
Transportation2,440,759 - -
Economic Environment28,458,900 - -
Human Services365,643 - -
Culture and Recreation1,479,155 - -
Court Related397,761 - -
Capital Projects- - 262
Total Expenditures60,308,365 - 262
Excess/Deficiency of Revenues
Over/(Under) Expenditures5,969,235 243 1,791
Other Financing Sources/(Uses):
Transfers from Other Funds190,354 - -
Transfers to Other Funds(3,171,682) - (713,401)
Debt Proceeds- - -
Transfers from Constitutional Officers1,142,338 - -
Total Other Financing Sources/(Uses)(1,838,990) - (713,401)
Net Change in Fund Balances 2434,130,245 (711,610)
Fund Balances-October 1 101,87957,750,296 711,610
$ 102,12261,880,541$ -$
Fund Balances-September 30
G-19
PROJECT FUNDSTotal
InfrastructureDuck KeyNonmajor
Revenue BondsWastewaterGovernmental
Series 2007ProjectFunds
$ 60-$ 47,546,515$
-- 3,962,823
-- 6,084,025
-- 7,180,900
-- 1,179,497
31,1336,709 218,665
8,478- 153,851
39,6716,709 66,326,276
-- 2,875,716
-- 22,767,163
-- 1,523,268
-- 2,440,759
-- 28,458,900
-- 365,643
-- 1,479,155
-- 397,761
22,0311,227,459 1,249,752
22,0311,227,459 61,558,117
17,640(1,220,750) 4,768,159
-- 190,354
-(1,500,000) (5,385,083)
-- -
56- 1,142,394
56(1,500,000) (4,052,335)
17,696(2,720,750) 715,824
2,495,2094,042,184 65,101,178
$ 2,512,9051,321,434$ 65,817,002$
G-20
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
AFFORDABLE HOUSING PROGRAMS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income1,400$ 1,400$ 914$ (486)$
Miscellaneous- - 5,998 5,998
Total Revenues1,400 1,400 6,912 5,512
EXPENDITURES:
Current:
Economic Environment:
Affordable Housing Initiatives290,000 290,000 - 290,000
Excess/Deficiency of Revenues
Over/(Under) Expenditures(288,600) (288,600) 6,912 295,512
Other Financing Sources/(Uses):
Reserve for Contingencies(5,000) (5,000) - 5,000
Reserve for Cash Balance(11,167) (11,167) - 11,167
Total Other Financing Sources/(Uses)(16,167) (16,167) - 16,167
Net Change in Fund Balances (304,767)(304,767) 6,912 311,679
Fund Balances, October 1 304,767304,767 380,784 76,017
Fund Balances, September 30 $ --$ 387,696$ 387,696$
G-21
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes4,072,535$ 4,072,535$ 4,972,891$ 900,356$
Investment Income- - 11,190 11,190
Total Revenues4,072,535 4,072,535 4,984,081 911,546
EXPENDITURES:
Current:
Economic Environment:
Cultural Umbrella1,095,324 1,095,324 924,306 171,018
Fishing Umbrella832,000 832,000 699,447 132,553
Dive Umbrella700,000 700,000 678,922 21,078
Operations - Events2,514,976 2,514,976 1,672,014 842,962
Catastrophic Emergency1,527,833 1,527,833 - 1,527,833
Special Projects818,007 818,007 495,516 322,491
Total Expenditures7,488,140 7,488,140 4,470,205 3,017,935
Excess/Deficiency of Revenues
Over/(Under) Expenditures(3,415,605) (3,415,605) 513,876 3,929,481
Other Financing Sources/(Uses):
Transfers to Other Funds(65,436) (65,436) (65,353) 83
Transfers from Constitutional Officers- - 82,350 82,350
Total Other Financing Sources/(Uses)(65,436) (65,436) 16,997 82,433
Net Change in Fund Balances (3,481,041)(3,481,041) 530,873 4,011,914
Fund Balances, October 1 3,481,0413,481,041 4,478,963 997,922
Fund Balances, September 30$ --$ 5,009,836$ 5,009,836$
G-22
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes8,439,092$ 8,439,092$ 10,304,808$ 1,865,716$
Investment Income- - 20,596 20,596
Miscellaneous- - 8,607 8,607
Total Revenues8,439,092 8,439,092 10,334,011 1,894,919
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion9,501,862 9,501,862 8,617,327 884,535
Administrative Services1,055,504 1,055,504 520,244 535,260
Catastrophic Emergency2,172,167 2,172,167 - 2,172,167
Special Projects1,013,318 1,013,318 921,329 91,989
Total Expenditures13,742,851 13,742,851 10,058,900 3,683,951
Excess/Deficiency of Revenues
Over/(Under) Expenditures(5,303,759) (5,303,759) 275,111 5,578,870
Other Financing Sources/(Uses):
Transfers to Other Funds(131,818) (131,818) (62,133) 69,685
Transfers from Constitutional Officers- - 163,898 163,898
Total Other Financing Sources/(Uses)(131,818) (131,818) 101,765 233,583
Net Change in Fund Balances (5,435,577)(5,435,577) 376,876 5,812,453
Fund Balances, October 1 5,435,5775,435,577 7,683,071 2,247,494
Fund Balances, September 30$ --$ 8,059,947$ 8,059,947$
G-23
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes7,323,166$ 7,323,166$ 8,675,138$ 1,351,972$
Investment Income- - 13,476 13,476
Total Revenues7,323,166 7,323,166 8,688,614 1,365,448
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion4,876,402 4,973,645 4,967,129 6,516
Administrative Services267,243 267,243 157,855 109,388
Special Events972,295 875,052 461,179 413,873
Bricks and Mortar4,443,681 4,443,681 1,431,063 3,012,618
Information Services363,117 363,117 363,117 -
Beaches191,547 191,547 57,381 134,166
Total Expenditures11,114,285 11,114,285 7,437,724 3,676,561
Excess/Deficiency of Revenues
Over/(Under) Expenditures(3,791,119) (3,791,119) 1,250,890 5,042,009
Other Financing Sources/(Uses):
Transfers to Other Funds(108,639) (108,639) (108,534) 105
Transfers from Constitutional Officers- - 140,315 140,315
Total Other Financing Sources/(Uses)(108,639) (108,639) 31,781 140,420
Net Change in Fund Balances (3,899,758)(3,899,758) 1,282,671 5,182,429
Fund Balances, October 1 3,899,7583,899,758 5,122,638 1,222,880
Fund Balances, September 30$ --$ 6,405,309$ 6,405,309$
G-24
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes600,473$ 600,473$ 906,554$ 306,081$
Investment Income- - 935 935
Total Revenues600,473 600,473 907,489 307,016
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion375,304 375,304 370,678 4,626
Administrative Services19,863 19,863 17,251 2,612
Special Events75,807 75,807 35,000 40,807
Bricks and Mortar212,955 212,955 86,960 125,995
Information Services91,200 91,200 91,200 -
Total Expenditures775,129 775,129 601,089 174,040
Excess/Deficiency of Revenues
Over/(Under) Expenditures(174,656) (174,656) 306,400 481,056
Other Financing Sources/(Uses):
Transfers to Other Funds(27,235) (27,235) (27,202) 33
Transfers from Constitutional Officers- - 14,493 14,493
Total Other Financing Sources/(Uses)(27,235) (27,235) (12,709) 14,526
Net Change in Fund Balances (201,891)(201,891) 293,691 495,582
Fund Balances, October 1 201,891201,891 324,009 122,118
Fund Balances, September 30$ --$ 617,700$ 617,700$
G-25
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes1,746,784$ 1,746,784$ 2,181,447$ 434,663$
Investment Income- - 3,843 3,843
Total Revenues1,746,784 1,746,784 2,185,290 438,506
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion1,846,102 1,846,102 1,814,045 32,057
Administrative Services60,832 60,832 41,557 19,275
Special Events115,109 115,109 60,000 55,109
Bricks and Mortar720,052 720,052 403,744 316,308
Information Services160,000 160,000 160,000 -
Total Expenditures2,902,095 2,902,095 2,479,346 422,749
Excess/Deficiency of Revenues
Over/(Under) Expenditures(1,155,311) (1,155,311) (294,056) 861,255
Other Financing Sources/(Uses):
Transfers to Other Funds(16,162) (16,162) (16,146) 16
Transfers from Constitutional Officers- - 35,022 35,022
Total Other Financing Sources/(Uses)(16,162) (16,162) 18,876 35,038
Net Change in Fund Balances (1,171,473)(1,171,473) (275,180) 896,293
Fund Balances, October 1 1,171,4731,171,473 1,525,875 354,402
Fund Balances, September 30$ --$ 1,250,695$ 1,250,695$
G-26
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes1,379,024$ 1,379,024$ 1,678,018$ 298,994$
Investment Income- - 3,316 3,316
Miscellaneous- - 3,723 3,723
Total Revenues1,379,024 1,379,024 1,685,057 306,033
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion1,440,972 1,440,972 1,340,731 100,241
Administrative Services49,077 49,077 32,595 16,482
Special Events190,000 190,000 84,410 105,590
Bricks and Mortar536,819 536,819 185,045 351,774
Information Services150,000 150,000 150,000 -
Total Expenditures2,366,868 2,366,868 1,792,781 574,087
Excess/Deficiency of Revenues
Over/(Under) Expenditures(987,844) (987,844) (107,724) 880,120
Other Financing Sources/(Uses):
Transfers to Other Funds(14,790) (14,790) (14,779) 11
Transfers from Constitutional Officers- - 26,826 26,826
Total Other Financing Sources/(Uses)(14,790) (14,790) 12,047 26,837
Net Change in Fund Balances (1,002,634)(1,002,634) (95,677) 906,957
Fund Balances, October 1 1,002,6341,002,634 1,365,096 362,462
Fund Balances, September 30$ --$ 1,269,419$ 1,269,419$
G-27
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes1,462,180$ 1,462,180$ 1,836,542$ 374,362$
Investment Income- - 2,369 2,369
Total Revenues1,462,180 1,462,180 1,838,911 376,731
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion945,982 945,982 870,986 74,996
Administrative Services44,666 44,666 39,440 5,226
Information Services142,000 142,000 142,000 -
Special Events202,127 202,127 164,308 37,819
Bricks and Mortar531,404 531,404 395,264 136,140
Total Expenditures1,866,179 1,866,179 1,611,998 254,181
Excess/Deficiency of Revenues
Over/(Under) Expenditures(403,999) (403,999) 226,913 630,912
Other Financing Sources/(Uses):
Transfers to Other Funds(53,468) (53,468) (53,384) 84
Transfers from Constitutional Officers- - 29,590 29,590
Total Other Financing Sources/(Uses)(53,468) (53,468) (23,794) 29,674
Net Change in Fund Balances (457,467)(457,467) 203,119 660,586
Fund Balances, October 1 457,467457,467 871,957 414,490
Fund Balances, September 30$ --$ 1,075,076$ 1,075,076$
G-28
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
IMPACT FEES - ROADWAYS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Licenses and Permits60,914$ 60,914$ 170,854$ 109,940$
Investment Income10,851 10,851 12,777 1,926
Total Revenues71,765 71,765 183,631 111,866
EXPENDITURES:
Current:
Transportation:
Fair Share Improvement County Wide 526,857 - - -
Fair Share Improvement Dist 2131,220 131,220 - 131,220
Fair Share Improvement Dist 3577,100 - - -
Fair Share Improve Key Colony Beach32,721 32,721 - 32,721
C905 Bike Lane- 2,617,457 2,555,025 62,432
Roadway Projects- 713 - 713
Truman Bridge Ped Bridge825,000 825,000 - 825,000
Bike/Shared Use Path1,087,900 587,900 (114,266) 702,166
Bike Lanes1,323,859 - - -
Total Expenditures4,504,657 4,195,011 2,440,759 1,754,252
Excess/Deficiency of Revenues
Over/(Under) Expenditures(4,432,892) (4,123,246) (2,257,128) 1,866,118
Other Financing Sources/(Uses):
Transfers from Other Funds- 190,354 190,354 -
Transfers to Other Funds(30,000) (530,000) (29,728) 500,272
Total Other Financing Sources/(Uses)(30,000) (339,646) 160,626 500,272
Net Change in Fund Balances (4,462,892)(4,462,892) (2,096,502) 2,366,390
Fund Balances, October 1 4,462,8924,462,892 5,314,784 851,892
Fund Balances, September 30$ --$ 3,218,282$ 3,218,282$
G-29
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Licenses and Permits15,500$ 15,500$ 58,480$ 42,980$
Investment Income1,300 1,300 1,106 (194)
Total Revenues16,800 16,800 59,586 42,786
EXPENDITURES:
Current:
Culture and Recreation:
District 1 Projects27,899 27,899 - 27,899
District 2 Projects224,995 224,995 - 224,995
District 3 Projects60,772 60,772 - 60,772
Bay Point Park15,000 15,000 15,000
Big Coppitt Park20,000 20,000 - 20,000
Bernstein Park25,401 25,401 - 25,401
Total Expenditures374,067 374,067 - 374,067
Net Change in Fund Balances (357,267)(357,267) 59,586 416,853
Fund Balances, October 1 357,267357,267 443,878 86,611
Fund Balances, September 30 $ --$ 503,464$ 503,464$
G-30
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
IMPACT FEES - LIBRARIES SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Licenses and Permits17,100$ 17,100$ 51,185$ 34,085$
Investment Income2,599 2,599 2,663 64
Total Revenues19,699 19,699 53,848 34,149
EXPENDITURES:
Current:
Culture and Recreation:
County Wide Library Projects692,292 692,292 - 692,292
Library Automation25,000 25,000 - 25,000
Total Expenditures717,292 717,292 - 717,292
Over/(Under) Expenditures(697,593) (697,593) 53,848 751,441
Excess/Deficiency of Revenues
Over/(Under) Expenditures(697,593) (697,593) 53,848 751,441
Net Change in Fund Balances (697,593)(697,593) 53,848 751,441
Fund Balances, October 1 697,593697,593 919,787 222,194
Fund Balances, September 30 $ --$ 973,635$ 973,635$
G-31
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Licenses and Permits3,700$ 3,700$ 13,441$ 9,741$
Investment Income160 160 140 (20)
Total Revenues3,860 3,860 13,581 9,721
EXPENDITURES:
Current:
Physical Environment:
County Wide Solid Waste Projects48,149 48,149 - 48,149
Net Change in Fund Balances (44,289)(44,289) 13,581 57,870
Fund Balances, October 1 44,28944,289 54,578 10,289
Fund Balances, September 30 $ --$ 68,159$ 68,159$
G-32
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Licenses and Permits8,500$ 8,500$ 29,629$ 21,129$
Investment Income300 300 362 62
Total Revenues8,800 8,800 29,991 21,191
EXPENDITURES:
Current:
Public Safety:
County Wide Police Facility106,043 - - -
Total Expenditures106,043 - - -
Excess/Deficiency of Revenues
Over/(Under) Expenditures(97,243) 8,800 29,991 21,191
Other Financing Sources/(Uses):
Transfers to Other Funds- (106,043) (106,043) -
Excess/Deficiency of Revenues
Over/(Under) Expenditures(97,243) 8,800 29,991 21,191
Net Change in Fund Balances (97,243)(97,243) (76,052) 21,191
Fund Balances, October 1 97,24397,243 119,331 22,088
Fund Balances, September 30 $ --$ 43,279$ 43,279$
G-33
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Licenses and Permits5,200$ 5,200$ 20,428$ 15,228$
Investment Income- 84 84
Total Revenues5,200 5,200 20,512 15,312
EXPENDITURES:
Current:
Public Safety:
District 1 Fire & EMS Project11,313 11,313 - 11,313
District 2 Fire & EMS Project344 344 - 344
District 3 Fire & EMS Project12,312 12,312 - 12,312
Key Colony Beach Fire & EMS865 865 - 865
Total Expenditures24,834 24,834 - 24,834
Excess/Deficiency of Revenues
Over/(Under) Expenditures(19,634) (19,634) 20,512 40,146
Net Change in Fund Balances (19,634)(19,634) 20,512 40,146
Fund Balances, October 1 19,63419,634 28,780 9,146
Fund Balances, September 30 $ --$ 49,292$ 49,292$
G-34
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Licenses and Permits6,000$ 6,000$ 88,756$ 82,756$
Investment Income800 800 1,089 289
Total Revenues6,800 6,800 89,845 83,045
EXPENDITURES:
Current:
Economic Environment:
District 1 Employee Fair Share Hsg123,695 123,695 - 123,695
District 3 Employee Fair Share Hsg128,852 128,852 - 128,852
Total Expenditures252,547 252,547 - 252,547
Excess/Deficiency of Revenues
Over/(Under) Expenditures(245,747) (245,747) 89,845 335,592
Other Financing Sources/(Uses):
Reserve for Contingencies(34,000) (91,006) - 91,006
Reserve for Cash Balance(57,006) - -
Total Other Financing Sources/(Uses)(91,006) (91,006) - 91,006
Net Change in Fund Balances (336,753)(336,753) 89,845 426,598
Fund Balances, October 1 336,753336,753 421,679 84,926
Fund Balances, September 30 $ --$ 511,524$ 511,524$
G-35
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FIRE AND AMBULANCE DISTRICT #1 - LOWER AND MIDDLE KEYS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes10,718,483$ 10,718,483$ 10,332,079$ (386,404)$
Intergovernmental42,500 42,500 139,279 96,779
Charges for Services600,000 600,000 600,291 291
Investment Income24,000 24,000 25,763 1,763
Miscellaneous- - 1,312 1,312
Total Revenues11,384,983 11,384,983 11,098,724 (286,259)
EXPENDITURES:
Current:
General Government:
Tax Collector362,820 362,820 300,652 62,168
Property Appraiser213,359 216,966 216,965 1
Total General Government576,179 579,786 517,617 62,169
Public Safety:
Fire Rescue - Central2,959,918 2,899,918 2,475,287 424,631
SAFER Program1,244,057 1,274,057 1,201,710 72,347
Lower & Middle Keys Ambulance Dist5,755,917 5,785,917 5,465,628 320,289
Total Public Safety9,959,892 9,959,892 9,142,625 817,267
Total Expenditures10,536,071 10,539,678 9,660,242 879,436
Excess/Deficiency of Revenues
Over/(Under) Expenditures848,912 845,305 1,438,482 593,177
Other Financing Sources/(Uses):
Reserve for Contingencies(790,815) (787,208) - 787,208
Reserve for Cash Balance(2,636,502) (2,636,502) - 2,636,502
Transfers to Other Funds(1,071,005) (1,071,005) (1,071,005) -
Transfers from Constitutional Officers131,000 131,000 192,403 61,403
Total Other Financing Sources/(Uses)(4,367,322) (4,363,715) (878,602) 3,485,113
Net Change in Fund Balances (3,518,410)(3,518,410) 559,880 4,078,290
Fund Balances, October 1 3,518,4103,518,410 5,592,775 2,074,365
Fund Balances, September 30$ --$ 6,152,655$ 6,152,655$
G-36
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income3,500$ 3,500$ 2,636$ (864)$
Total Revenues3,500 3,500 2,636 (864)
EXPENDITURES:
Current:
Human Services:
Trauma District Administration17,017 17,017 12,220 4,797
Trauma Transportation and Treatment200,000 200,000 190,215 9,785
Trauma Pretransportation2,000 2,000 630 1,370
Trauma Facility Upgrade100 100 - 100
Total Expenditures219,117 219,117 203,065 16,052
Excess/Deficiency of Revenues
Over/(Under) Expenditures(215,617) (215,617) (200,429) 15,188
Other Financing Sources/(Uses):
Reserve for Contingencies(35,912) (35,912) - 35,912
Reserve for Cash Balance(61,819) (61,819) - 61,819
Transfers to Other Funds(19,137) (19,137) (19,137) -
Total Other Financing Sources/(Uses)(116,868) (116,868) (19,137) 97,731
Net Change in Fund Balances (332,485)(332,485) (219,566) 112,919
Fund Balances, October 1 332,485332,485 1,174,119 841,634
Fund Balances, September 30$ --$ 954,553$ 954,553$
G-37
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes1,762,725$ 1,762,725$ 1,701,551$ (61,174)$
Intergovernmental- - 7,274 7,274
Charges for Services36,000 36,000 43,985 7,985
Investment Income5,500 5,500 4,256 (1,244)
Miscellaneous48,200 48,200 54,338 6,138
Total Revenues1,852,425 1,852,425 1,811,404 (41,021)
EXPENDITURES:
Current:
Culture and Recreation:
Parks & Beaches Unincorporated1,308,274 1,308,274 1,256,604 51,670
Jacob's Aquatic Center180,000 180,000 180,000 -
School Board Interlocal32,000 32,000 22,210 9,790
Total Culture and Recreation1,520,274 1,520,274 1,458,814 61,460
Total Expenditures1,520,274 1,520,274 1,458,814 61,460
Excess/Deficiency of Revenues
Over/(Under) Expenditures332,151 332,151 352,590 20,439
Other Financing Sources/(Uses):
Reserve for Contingencies(88,073) (182,813) - 182,813
Reserve for Cash Balance(94,740) - - -
Transfers to Other Funds(280,733) (280,733) (280,733) -
Total Other Financing Sources/(Uses)(463,546) (463,546) (280,733) 182,813
Net Change in Fund Balances (131,395)(131,395) 71,857 203,252
Fund Balances, October 1 131,395131,395 914,402 783,007
Fund Balances, September 30 $ --$ 986,259$ 986,259$
G-38
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
UNINCORPORATED AREA SERVICE DISTRICT - PLANNING,
D
BUILDING AND ZONING SPECIAL REVENUE FUN
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes868,484$ 868,484$ 934,765$ 66,281$
Intergovernmental5,381,051 5,381,051 5,571,755 190,704
Charges for Services631,668 631,668 1,035,687 404,019
Fines and Forfeitures375,000 375,000 447,805 72,805
Investment Income20,200 20,200 19,259 (941)
Miscellaneous- - 7,276 7,276
Total Revenues7,276,403 7,276,403 8,016,547 740,144
Expenditures:
Current:
General Government:
Tax Collector75,000 75,000 57,243 17,757
Property Appraiser39,516 41,143 41,143 -
Growth Mgmt County Attorney554,231 554,231 545,691 8,540
Planning Department1,239,450 1,239,450 1,199,622 39,828
2010 Comprehensive Plan270,000 270,000 145,278 124,722
GIS202,049 202,049 168,518 33,531
Planning Commission81,000 81,000 76,033 4,967
Growth Mgmt Administration733,923 733,923 438,901 295,022
Planning and Building Refunds12,000 12,000 - 12,000
Total General Government3,207,169 3,208,796 2,672,429 536,367
Public Safety:
Code Enforcement1,397,326 1,397,326 1,308,545 88,781
772,552 48,646
Fire & Rescue Coordinator821,198 821,198
Fire Marshall331,198 346,148 361,910 (15,762)
Total Public Safety2,549,722 2,564,672 2,443,007 121,665
Physical Environment:
Environmental Resources630,762 630,762 583,865 46,897
Total Expenditures6,387,653 6,404,230 5,699,301 704,929
Excess/Deficiency of Revenues
Over/(Under) Expenditures888,750 872,173 2,317,246 1,445,073
(Continued)
G-39
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL-CONTINUED
UNINCORPORATED AREA SERVICE DISTRICT - PLANNING,
D
BUILDING AND ZONING SPECIAL REVENUE FUN
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
Other Financing Sources/(Uses):
Reserve for Contingencies(1,164,217) (1,147,640) - 1,147,640
Reserve for Cash Balance(2,184,670) (2,184,670) - 2,184,670
Transfers to Other Funds(1,251,330) (1,251,330) (1,282,028) (30,698)
Transfers from Constitutional Officers20,000 20,000 36,703 16,703
Total Other Financing Sources/(Uses)(4,580,217) (4,563,640) (1,245,325) 3,318,315
Net Change in Fund Balances (3,691,467)(3,691,467) 1,071,921 4,763,388
Fund Balances, October 1 3,691,4673,691,467 6,599,983 2,908,516
Fund Balances, September 30$ --$ 7,671,904$ 7,671,904$
G-40
S
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONER
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
MUNICIPAL POLICING SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes4,170,573$ 4,170,573$ 4,021,185$ (149,388)$
Charges for Services3,315,216 3,315,216 3,369,260 54,044
Investment Income8,500 8,500 5,720 (2,780)
Total Revenues7,494,289 7,494,289 7,396,165 (98,124)
EXPENDITURES:
Current:
General Government:
Tax Collector121,903 121,903 117,681 4,222
Property Appraiser79,294 84,588 84,588 -
Total General Government201,197 206,491 202,269 4,222
Public Safety:
Insurance Unincorporated & Layton472,132 461,925 398,334 63,591
Insurance Islamorada200,355 210,562 210,561 1
Insurance Marathon178,114 178,114 168,166 9,948
Sheriff Unincorporated & Layton3,561,836 3,561,836 3,561,836 -
Sheriff Islamorada1,602,596 1,602,596 1,602,596 -
Sheriff Marathon1,372,189 1,372,189 1,372,189 -
Total Public Safety7,387,222 7,387,222 7,313,682 73,540
Total Expenditures7,588,419 7,593,713 7,515,951 77,762
Excess/Deficiency of Revenues
Over/(Under) Expenditures(94,130) (99,424) (119,786) (20,362)
Other Financing Sources/(Uses):
Reserve for Contingencies(75,000) (69,706) - 69,706
Reserve for Cash Balance(866,872) (866,872) - 866,872
Transfers to Other Funds(9,194) (9,194) (9,194) -
Transfers from Other Funds200,000 200,000 - (200,000)
Transfers from Constitutional Officers- - 309,093 309,093
Total Other Financing Sources/(Uses)(751,066) (745,772) 299,899 1,045,671
Net Change in Fund Balances (845,196)(845,196) 180,113 1,025,309
Fund Balances, October 1 845,196845,196 1,858,847 1,013,651
$ -$ 2,038,960$ 2,038,960$
Fund Balances, September 30-
G-41
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
911 ENHANCEMENT FEES SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Charges for Services510,000$ 510,000$ 449,689$ (60,311)$
Investment Income200 200 281 81
Total Revenues510,200 510,200 449,970 (60,230)
EXPENDITURES:
Current:
Public Safety:
911 Enhancement Fund235,100 235,100 222,833 12,267
911 Wireless275,100 275,100 227,137 47,963
Total Expenditures510,200 510,200 449,970 60,230
Net Change in Fund Balances -- - -
Fund Balances, October 1 -- - -
Fund Balances, September 30$ --$ -$ -$
G-42
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes-$ -$ 23$ 23$
Licenses and Permits75,000 75,000 75,633 633
Investment Income1,100 1,100 968 (132)
Total Revenues76,100 76,100 76,624 524
EXPENDITURES:
Current:
General Government:
Tax Collector2,250 2,250 7 2,243
Public Safety:
Island Security235,058 235,058 65,760 169,298
Total Expenditures237,308 237,308 65,767 171,541
Excess/Deficiency of Revenues
Over/(Under) Expenditures(161,208) (161,208) 10,857 172,065
Other Financing Sources/(Uses):
Reserve for Contingencies(35,200) (105,600) - 105,600
Reserve for Cash Balance(70,400) - -
Transfers from Constitutional Officers- - 467 467
Total Other Financing Sources/(Uses)(105,600) (105,600) 467 106,067
Net Change in Fund Balances (266,808)(266,808) 11,324 278,132
Fund Balances, October 1 266,808266,808 381,582 114,774
Fund Balances, September 30 $ --$ 392,906$ 392,906$
G-43
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
LOCAL HOUSING ASSISTANCE
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Intergovernmental350,000$ 350,000$ 365,717$ 15,717$
Investment Income6,000 6,000 2,751 (3,249)
Miscellaneous135,000 135,000 25,000 (110,000)
Total Revenues491,000 491,000 393,468 (97,532)
EXPENDITURES:
Current:
Economic Environment:
Homeowner Assistance 12243,241 243,241 - 243,241
Homeowner Assistance 13305,578 305,578 - 305,578
Homeowner Assistance 14426,900 426,900 - 426,900
Fair Housing 125,000 5,000 - 5,000
Fair Housing 135,000 5,000 - 5,000
Fair Housing 145,000 5,000 - 5,000
Administration 1228,693 28,693 6,857 21,836
Administration 1335,619 35,619 - 35,619
Administration 1449,100 49,100 - 49,100
Total Expenditures1,104,131 1,104,131 6,857 1,097,274
Excess/Deficiency of Revenues
Over/(Under) Expenditures(613,131) (613,131) 386,611 999,742
Other Financing Sources/(Uses):
Reserve for Contingencies (15,000) (15,000) - 15,000
Reserve for Cash Balance(15,000) (15,000) - 15,000
Total Other Financing Sources/(Uses)(30,000) (30,000) - 30,000
Net Change in Fund Balances (643,131)(643,131) 386,611 1,029,742
Fund Balances, October 1 643,131643,131 1,000,484 357,353
Fund Balances, September 30$ --$ 1,387,095$ 1,387,095$
G-44
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BOATING IMPROVEMENT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Charges for Services705,000$ 705,000$ 673,497$ (31,503)$
Investment Income6,000 6,000 5,921 (79)
Miscellaneous- - 2,678 2,678
Total Revenues711,000 711,000 682,096 (28,904)
EXPENDITURES:
Current:
Physical Environment:
Boating Improvement1,706,013 1,706,013 322,193 1,383,820
Boating Imp Fees/Retained Vessel426,970 426,970 404,815 22,155
Total Expenditures2,132,983 2,132,983 727,008 1,405,975
Excess/Deficiency of Revenues
Over/(Under) Expenditures(1,421,983) (1,421,983) (44,912) 1,377,071
Other Financing Sources/(Uses):
Reserve for Contingencies(266,112) (469,580) - 469,580
Reserve for Cash Balance(203,468) - -
Total Other Financing Sources/(Uses)(469,580) (469,580) - 469,580
Net Change in Fund Balances (1,891,563)(1,891,563) (44,912) 1,846,651
Fund Balances, October 1 1,891,5631,891,563 2,473,777 582,214
Fund Balances, September 30 $ --$ 2,428,865$ 2,428,865$
G-45
S
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONER
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
MISCELLANEOUS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Licenses and Permits-$ 64,979$ 64,975$ (4)$
Charges for Services- 296,928 362,938 66,010
Fines and Forfeitures- 12,894 230,830 217,936
Investment Income- - 5,830 5,830
Total Revenues- 374,801 664,573 289,772
EXPENDITURES:
Current:
General Government:
Conservation Land Purchase7,088 7,088 - 7,088
Public Safety:
Interagency Communications140,000 140,000 135,763 4,237
Education-Building Department23,400 67,784 28,152 39,632
Environmental Resource Education13,000 33,595 6,035 27,560
Total Public Safety176,400 241,379 169,950 71,429
Economic Environment:
t 2,500- - 2,500
Climate Leadership Summi
Total Economic Environment- 2,500 - 2,500
Human Services:
FL Keys Council for the Handicapped6,881 7,676 1,014 6,662
Bayshore Donations1,240 1,240 - 1,240
Traffic Educ, Ord 021-2002110,027 110,027 110,026 1
Legal Aid- 26,283 26,283 -
Total Human Services118,148 145,226 137,323 7,903
Culture and Recreation:
Settler's Park Landscaping- 11,711 6,130 5,581
Library Special Programs- 41,663 6,559 35,104
Library Donation-Golan Trust350,000 360,403 7,652 352,751
Total Culture and Recreation350,000 413,777 20,341 393,436
(Continued)
G-46
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL - CONTINUED
MISCELLANEOUS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
Court Related:
Alt Dispute Resolution - Civil8,780 8,780 - 8,780
Teen Court - Ord 016-2004375,000 26,283 26,283 -
Ord 016-2004 St Court Sup100,000 126,283 55,010 71,273
SA Ct Tech FS28.24(12)(E)- 561,903 69,266 492,637
PD Ct Tech FS28.24(12)(E)10,000 61,737 44,991 16,746
J Ct Tech FS28.24(12)(E)51,988 245,741 43,578 202,163
Total Court Related545,768 1,030,727 239,128 791,599
Total Expenditures1,197,404 1,840,697 566,742 1,273,955
Excess/Deficiency of Revenues
Over/(Under) Expenditures(1,197,404) (1,465,896) 97,831 1,563,727
Other Financing Sources/(Uses):
Reserve for Contingencies(921,772) (626,997) - 626,997
Transfers to Other Funds- (26,283) (26,283) -
Total Other Financing Sources/(Uses)(921,772) (653,280) (26,283) 626,997
Net Change in Fund Balances (2,119,176)(2,119,176) 71,548 2,190,724
Fund Balances, October 1 2,119,1762,119,176 2,437,414 318,238
$ -$ 2,508,962$ 2,508,962$
Fund Balances, September 30 -
G-47
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
ENVIRONMENTAL RESTORATION SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Fines and Forfeitures100,000$ 100,000$ 500,862$ 400,862$
Investment Income3,600 3,600 4,000 400
Total Revenues103,600 103,600 504,862 401,262
EXPENDITURES:
Current:
Physical Environment:
Environmental Restoration174,246 174,246 170,078 4,168
KLWT Plant Site Mitg Pro703,635 703,635 8,957 694,678
Total Environmental Restoration877,881 877,881 179,035 698,846
Culture andRecreation:
Settler's Park- 9,083 - 9,083
Total Expenditures877,881 886,964 179,035 707,929
Excess/Deficiency of Revenues
Over/(Under) Expenditures(774,281) (783,364) 325,827 1,109,191
Other Financing Sources/(Uses):
Reserve for Contingencies(110,000) - - -
Reserve for Cash Balance(201,764) - - -
Transfers to Other Funds- (302,681) - 302,681
Total Other Financing Sources/(Uses)(311,764) (302,681) - 302,681
Net Change in Fund Balances (1,086,045)(1,086,045) 325,827 1,411,872
Fund Balances, October 1 1,086,0451,086,045 1,434,048 348,003
Fund Balances, September 30 $ --$ 1,759,875$ 1,759,875$
G-48
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
LAW ENFORCEMENT TRUST SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income1,500$ 1,500$ 1,416$ (84)$
Miscellaneous- 171,803 - (171,803)
Total Revenues1,500 173,303 1,416 (171,887)
EXPENDITURES:
Current:
Public Safety:
Law Enforcement319,180 490,983 62,738 428,245
Excess/Deficiency of Revenues
Over/(Under) Expenditures(317,680) (317,680) (61,322) 256,358
Other Financing Sources/(Uses):
Reserve for Contingencies(45,597) (45,597) - 45,597
Reserve for Cash Balance(91,194) (91,194) - 91,194
Transfers from Constitutional Officers- - 110,699 110,699
Total Other Financing Sources/(Uses)(136,791) (136,791) 110,699 247,490
Net Change in Fund Balances (454,471)(454,471) 49,377 503,848
Fund Balances, October 1 454,471454,471 628,285 173,814
Fund Balances, September 30$ --$ 677,662$ 677,662$
G-49
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
COURT FACILITY FEES SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Charges for Services575,000$ 575,000$ 523,773$ (51,227)$
Investment Income5,500 5,500 5,435 (65)
Total Revenues580,500 580,500 529,208 (51,292)
EXPENDITURES:
Current:
Court Related:
Court Facility386,175 386,175 158,633 227,542
Excess/Deficiency of Revenues
Over/(Under) Expenditures194,325 194,325 370,575 176,250
Other Financing Sources/(Uses):
Reserve for Contingencies(55,100) (55,100) - 55,100
Reserve for Cash Balance(110,200) (110,200) - 110,200
Total Other Financing Sources/(Uses)(165,300) (165,300) - 165,300
Net Change in Fund Balances 29,02529,025 370,575 341,550
Fund Balances, October 1 (29,025)(29,025) 2,130,547 2,159,572
Fund Balances, September 30 $ --$ 2,501,122$ 2,501,122$
G-50
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
DRUG ABUSE TRUST SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Charges for Services29,500$ 29,500$ 36,278$ 6,778$
Investment Income300 300 361 61
Total Revenues29,800 29,800 36,639 6,839
EXPENDITURES:
Current:
Human Services:
Drug Abuse Trust Fund95,848 95,848 25,255 70,593
Excess/Deficiency of Revenues
Over/(Under) Expenditures(66,048) (66,048) 11,384 77,432
Other Financing Sources/(Uses):
Reserve for 164(13,600) (13,600) - 13,600
Reserve for Cash Balance(27,200) (27,200) - 27,200
Total Other Financing Sources/(Uses)(40,800) (40,800) - 40,800
Net Change in Fund Balances (106,848)(106,848) 11,384 118,232
Fund Balances, October 1 106,848106,848 147,073 40,225
Fund Balances, September 30 $ --$ 158,457$ 158,457$
G-51
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes-$ -$ 558$ 558$
Investment Income- - 6 6
Total Revenues- - 564 564
EXPENDITURES:
Current:
Physical Environment:
Marathon Wastewater1,413 1,413 - 1,413
Total Expenditures1,413 1,413 - 1,413
Excess/Deficiency of Revenues
Over/(Under) Expenditures(1,413) (1,413) 564 1,977
Other Financing Sources/(Uses):
Reserve for Contingencies(150) (150) - 150
Total Other Financing Sources/(Uses)(150) (150) - 150
Net Change in Fund Balances (1,563)(1,563) 564 2,127
Fund Balances, October 1 1,5631,563 1,953 390
Fund Balances, September 30$ --$ 2,517$ 2,517$
G-52
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income-$ -$ 123$ 123$
Total Revenues- - 123 123
EXPENDITURES:
Current:
Physical Environment:
Bay Point Wastewater33,219 33,219 1,826 31,393
Total Expenditures33,219 33,219 1,826 31,393
Excess/Deficiency of Revenues
Over/(Under) Expenditures(33,219) (33,219) (1,703) 31,516
Other Financing Sources/(Uses):
Reserve for Contingencies(4,150) (4,150) - 4,150
Reserve for Cash Balance(4,150) (4,150) - 4,150
Total Other Financing Sources/(Uses)(8,300) (8,300) - 8,300
Net Change in Fund Balances (41,519)(41,519) (1,703) 39,816
Fund Balances, October 1 41,51941,519 52,032 10,513
Fund Balances, September 30$ --$ 50,329$ 50,329$
G-53
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income-$ -$ 4$ 4$
Total Revenues- - 4 4
EXPENDITURES:
Current:
Physical Environment:
Big Coppitt Wastewater1,264 1,264 - 1,264
Total Expenditures1,264 1,264 - 1,264
Excess/Deficiency of Revenues
Over/(Under) Expenditures(1,264) (1,264) 4 1,268
.
Other Financing Sources/(Uses):
Reserve for Contingencies (140) (140) - 140
Total Other Financing Sources/(Uses)(140) (140) - 140
Net Change in Fund Balances (1,404)(1,404) 4 1,408
Fund Balances, October 1 1,4041,404 1,747 343
Fund Balances, September 30$ --$ 1,751$ 1,751$
G-54
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income-$ -$ 20$ 20$
Total Revenues- - 20 20
EXPENDITURES:
Current:
Physical Environment:
Key Largo Wastewater5,984 5,984 1,210 4,774
Total Expenditures5,984 5,984 1,210 4,774
Excess/Deficiency of Revenues
Over/(Under) Expenditures(5,984) (5,984) (1,190) 4,794
Other Financing Sources/(Uses):
Reserve for Contingencies (660) (660) - 660
Total Other Financing Sources/(Uses)(660) (660) - 660
Net Change in Fund Balances (6,644)(6,644) (1,190) 5,454
Fund Balances, October 1 6,6446,644 8,691 2,047
Fund Balances, September 30$ --$ 7,501$ 7,501$
G-55
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
STOCK ISLAND WASTEWATER SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Licenses and Permits47,000$ 47,000$ 42,417$ (4,583)$
Investment Income1,820 1,820 14,559 12,739
Miscellaneous Income- - 4,011 4,011
Total Revenues48,820 48,820 60,987 12,167
EXPENDITURES:
Current:
General Government:
Tax Collector Fees1,410 1,410 1,000 410
Physical Environment:
Stock Island Wastewater330,462 330,462 10,015 320,447
Stock Island Cap Fee Refund5,000 5,000 - 5,000
Total Physical Environment335,462 335,462 10,015 325,447
Total Expenditures336,872 336,872 11,015 325,857
Excess/Deficiency of Revenues
Over/(Under) Expenditures(288,052) (288,052) 49,972 338,024
Other Financing Sources/(Uses):
Reserve for Contingencies(48,125) (48,125) - 48,125
Reserve for Cash Balance(96,250) (96,250) - 96,250
Transfers from Constitutional Officers- - 467 467
Total Other Financing Sources/(Uses)(144,375) (144,375) 467 144,842
Net Change in Fund Balances (432,427)(432,427) 50,439 482,866
Fund Balances, October 1 432,427432,427 598,305 165,878
Fund Balances, September 30$ --$ 648,744$ 648,744$
G-56
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
CUDJOE-SUGARLOAF MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes-$ -$ 673$ 673$
Investment Income- - 47 47
Total Revenues- - 720 720
EXPENDITURES:
Current:
General Government:
Tax Collector Fees- 100 11 89
Physical Environment:
Cudjoe-Sugarloaf Wastewater15,051 15,051 13,718 1,333
Total Expenditures15,051 15,151 13,729 1,422
Excess/Deficiency of Revenues
Over/(Under) Expenditures(15,051) (15,151) (13,009) 2,142
Other Financing Sources/(Uses):
Reserve for Contingencies(1,600) (1,500) - 1,500
Transfers from Constitutional Officers- - 9 9
Total Other Financing Sources/(Uses)(1,600) (1,500) 9 1,509
Net Change in Fund Balances (16,651)(16,651) (13,000) 3,651
Fund Balances, October 1 16,65116,651 17,172 521
Fund Balances, September 30$ --$ 4,172$ 4,172$
G-57
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income-$ -$ 2$ 2$
Total Revenues- - 2 2
EXPENDITURES:
Current:
Physical Environment:
Conch Key MSTU791 791 500 291
Excess/Deficiency of Revenues
Over/(Under) Expenditures(791) (791) (498) 293
Other Financing Sources/(Uses):
Reserve for Contingencies(50) (50) - 50
Total Other Financing Sources/(Uses)(50) (50) - 50
Net Change in Fund Balances (841)(841) (498) 343
Fund Balances, October 1 841841 966 125
Fund Balances, September 30$ --$ 468$ 468$
G-58
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income-$ -$ 46$ 46$
Total Revenues- - 46 46
EXPENDITURES:
Current:
Physical Environment:
Long Key-Layton Wastewater8,170 8,170 1,299 6,871
Total Expenditures8,170 8,170 1,299 6,871
Excess/Deficiency of Revenues
Over/(Under) Expenditures(8,170) (8,170) (1,253) 6,917
Other Financing Sources/(Uses):
Reserve for Contingencies(1,100) (1,100) - 1,100
Reserve for Cash Balance(2,200) (2,200) - 2,200
Total Other Financing Sources/(Uses)(3,300) (3,300) - 3,300
Net Change in Fund Balances (11,470)(11,470) (1,253) 10,217
Fund Balances, October 1 11,47011,470 19,292 7,822
Fund Balances, September 30$ --$ 18,039$ 18,039$
G-59
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes-$ -$ 223$ 223$
Investment Income- - 168 168
Total Revenues- - 391 391
EXPENDITURES:
Current:
Physical Environment:
Duck Key Wastewater31,468 31,468 4,792 26,676
Total Expenditures31,468 31,468 4,792 26,676
Excess/Deficiency of Revenues
Over/(Under) Expenditures(31,468) (31,468) (4,401) 27,067
Other Financing Sources/(Uses):
Reserve for Contingencies(4,400) (4,400) - 4,400
Reserve for Cash Balance(8,000) (8,000) - 8,000
Transfers from Constitutional Officers- - 3 3
Total Other Financing Sources/(Uses)(12,400) (12,400) 3 12,403
Net Change in Fund Balances (43,868)(43,868) (4,398) 39,470
Fund Balances, October 1 43,86843,868 70,432 26,564
Fund Balances, September 30$ --$ 66,034$ 66,034$
G-60
S
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONER
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BUILDING FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Licenses and Permits2,260,000$ 2,260,000$ 3,347,025$ 1,087,025$
Charges for Services52,500 52,500 85,502 33,002
Investment Income3,500 3,500 4,095 595
Miscellaneous8,000 8,000 32,430 24,430
Total Revenues2,324,000 2,324,000 3,469,052 1,145,052
EXPENDITURES:
Current:
y
Public Safet
Building Department2,623,920 2,623,920 2,558,088 65,832
Building Refunds10,000 44,518 43,726 792
Total Expenditures2,633,920 2,668,438 2,601,814 66,624
Excess/Deficiency of Revenues
Over/(Under) Expenditures(309,920) (344,438) 867,238 1,211,676
Other Financing Sources/(Uses):
Reserve for Contingencies(85,488) (50,970) - 50,970
Reserve for Cash Balance(278,119) (278,119) - 278,119
Total Other Financing Sources/(Uses)(363,607) (329,089) - 329,089
Net Change in Fund Balances (673,527)(673,527) 867,238 1,540,765
Fund Balances, October 1 673,527673,527 1,151,160 477,633
Fund Balances, September 30$ --$ 2,018,398$ 2,018,398$
G-61
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING STATEMENT OF NET POSITION
INTERNAL SERVICE FUNDS
SEPTEMBER 30, 2014
Worker'sGroupRisk
CompensationInsuranceManagement
FundFundFund
S
ASSET
Current Assets:
Cash and Cash Equivalents1,804,045$ 5,038,662$ 1,899,920$
Investments3,499,473 9,814,692 3,701,467
Accounts Receivable, Net- - 8,682
Due from Other Governmental Units3,850 - -
Due from Constitutional Officers- 198,516 -
Interest Receivable6,802 19,078 7,195
Total current assets5,314,170 15,070,948 5,617,264
Noncurrent Assets:
Land and Other Nondepreciable Assets- - -
Capital Assets, Net of Accum. Depreciation868 214 27,199
Total Noncurrent Assets868 214 27,199
Total Assets5,315,038 15,071,162 5,644,463
LIABILITIES
Current Liabilities:
Accounts Payable23,798 1,905,364 38,510
Accrued Wages and Benefits Payable4,840 5,199 4,640
Claims and Judgements Payable1,210,936 1,043,765 193,455
Due to Other Governmental Units6 - -
Accrued Comp. Absences Payable14,586 10,151 10,586
Total Current Liabilities1,254,166 2,964,479 247,191
Noncurrent Liabilities:
Accrued Comp. Absences Payable2,097 15,416 20,686
OPEB Liability129,784 75,832 175,826
Total Noncurrent Liabilities131,881 91,248 196,512
Total Liabilities1,386,047 3,055,727 443,703
NET POSITION
Net investment in capital assets868 214 27,199
Unrestricted3,928,123 12,015,221 5,173,561
Total Net Position
$ 12,015,4353,928,991$ 5,200,760$
H-1
Fleet
Management
FundTotal
$ 9,474,500731,873$
18,441,4831,425,851
8,843161
31,19027,340
198,516-
35,8472,772
28,190,3792,187,997
54,00054,000
923,160894,879
977,160948,879
29,167,5393,136,876
2,011,53843,866
35,34120,662
2,448,156-
6-
42,3637,040
4,537,40471,568
109,03970,840
785,771404,329
894,810475,169
5,432,214546,737
977,160948,879
22,758,1651,641,260
$ 23,735,3252,590,139$
H-2
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN NET POSITION
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Worker'sGroupRisk
CompensationInsuranceManagement
FundFundFund
Operating Revenues:
Charges for Services1,983,220$ 14,313,515$ 27,728$
Miscellaneous10,766 55 17,279
Total operating revenues1,993,986 14,313,570 45,007
Operating Expenses:
Personnel Services218,643 238,475 262,125
Operations577,176 1,311,314 1,801,291
Depreciation and Amortization- 214 6,067
Asserted and Paid Claims1,792,409 12,610,989 112,924
Total operating expenses2,588,228 14,160,992 2,182,407
Operating Income/Loss(594,242) 152,578 (2,137,400)
Non-Operating Revenues/(Expenses):
Investment Income13,534 34,604 16,469
Insurance Recoveries7,824 146,589 69,198
Gain (Loss) on Disposition of Assets- - -
Total Non-Operating Revenues/(Expenses)21,358 181,193 85,667
Income/Loss Before Transfers(572,884) 333,771 (2,051,733)
Transfers to Other Funds(82,641) (113,658) (64,383)
Change in Net Position 220,113(655,525) (2,116,116)
Total Net Position-October 1 11,795,3224,584,516 7,316,876
Total Net Position-September 30$ 12,015,4353,928,991$ 5,200,760$
H-3
Fleet
Management
FundTotal
$ 19,232,5272,908,064$
32,4764,376
19,265,0032,912,440
1,721,4521,002,209
4,781,1541,091,373
70,47664,195
14,516,322-
21,089,4042,157,777
(1,824,401)754,663
71,3796,772
223,611-
5,6925,692
300,68212,464
(1,523,719)767,127
(716,742)(456,060)
(2,240,461)311,067
25,975,7862,279,072
$ 23,735,3252,590,139$
H-4
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Worker'sGroupRisk
CompensationInsuranceManagement
FundFundFund
Operating Activities:
Cash received for services135,095$ 14,568,890$ 15,710$
Cash rec'vd from other funds for goods and svcs1,901,592 - -
Cash received from insurance recoveries683,522 149,135 96,521
Cash payments to suppliers for goods and svcs(760,820) (1,401,346) (1,832,256)
Cash payments for employee services(183,839) (190,359) (187,671)
Cash payments to other funds(25,490) (30,494) (27,162)
Cash payments for claims(1,491,284) (12,170,649) (158,964)
Other operating revenue10,766 55 17,279
Net Cash Provided by/(Used in)
Operating Activities269,542 925,232 (2,076,543)
Noncapital Financing Activities:
Transfers to other funds(82,641) (113,658) (64,383)
Net Cash Provided/(Used) by Noncapital
Financing Activities(82,641) (113,658) (64,383)
Capital and Related Financing Activities:
Acquisition of capital assets(868) - -
Net Cash Provided/(Used) by Capital and
Related Financing Activities(868) - -
Investing Activities:
Investment income44,134 119,000 59,807
Proceeds from sales and maturities of investments3,225,112 8,730,512 5,835,364
Purchase of investment securities(2,931,469) (8,131,424) (3,795,720)
Net Cash Provided/(Used) in Investing Activities337,777 718,088 2,099,451
Net Increase/(Decrease) in Cash and
Cash Equivalents 1,529,662523,810 (41,475)
Cash and Cash Equivalents:
October 11,280,235 3,509,000 1,941,395
September 301,804,045$ 5,038,662$ 1,899,920$
H-5
Fleet
Management
FundTotal
$ 17,635,7452,916,050$
1,901,431(161)
929,178-
(4,957,854)(963,432)
(1,507,863)(945,994)
(211,640)(128,494)
(13,820,897)-
32,4764,376
576882,345
(716,742)(456,060)
(716,742)(456,060)
(63,639)(62,771)
(63,639)(62,771)
240,48017,539
18,729,123938,135
(15,945,245)(1,086,632)
3,024,358(130,958)
2,244,553232,556
7,229,947499,317
$ 9,474,500731,873$
(Continued)
H-6
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING STATEMENT OF CASH FLOWS - CONTINUED
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2014
Worker'sGroupRisk
CompensationInsuranceManagement
FundFundFund
Reconciliation of operating income/(loss)
to net cash provided by/(used in)
operating activities:
Operating income/(loss)(594,242)$ 152,578$ (2,137,400)$
Adjustments to reconcile operating income/(loss)
to net cash provided by/(used in) operating
activities:
Depreciation and Amortization- 214 6,067
Nonoperating Income-Insurance Recoveries7,824 146,589 69,198
Change in assets and liabilities:
(Increase)/Decrease in Accounts receivable675,698 2,546 27,323
(Increase)/Decrease in Due from other gov't units(336) 61,267 -
(Increase)/Decrease in Due fm constitutional ofcrs53,803 194,108 -
Increase/(Decrease) in Accounts payable(7,956) 272,107 (37,754)
Increase/(Decrease) in Accrued wages/benefits (4,974) (5,529) (13,843)
Increase/(Decrease) in Claims/judgments payable141,035 78,201 (40,455)
Increase/(Decrease) in Due to other funds- - -
Increase/(Decrease) in Due to other gov't units(16,896) - -
Increase/(Decrease) in Due to constitutional ofcrs- - (12,018)
Increase/(Decrease) in Comp. absences payable14,586 10,151 16,339
Increase/(Decrease) in OPEB liability1,000 13,000 46,000
Total adjustments863,784 772,654 60,857
Net cash provided by/(used in)
operating activities$ 925,232269,542$ (2,076,543)$
Noncash investing, capital, and financing activities:
Loss on abandonment-$ -$ -$
Change in fair value of investments(27,710)$ (76,864)$ (35,880)$
Cash Reconciliation:
Unrestricted1,804,045$ 5,038,662$ 1,899,920$
H-7
Fleet
Management
FundTotal
$ (1,824,401)754,663$
70,47664,195
223,611-
705,406(161)
68,3157,384
248,513602
226,016(381)
(51,171)(26,825)
178,781-
(172)(172)
(16,896)-
(12,018)-
48,1167,040
136,00076,000
1,824,977127,682
$ 576882,345$
$ --$
$ (150,726)(10,272)$
$ 9,474,500731,873$
H-8
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMPONENT UNIT
COMPREHENSIVE PLAN LAND AUTHORITY
STATEMENT OF NET POSITION
SEPTEMBER 30, 2014
ASSETS
Cash and cash equivalents16,011,764$
Due from BOCC472,334
Due from State of Florida27,931
Mortgages receivable9,151,579
Equipment, net of accumulated depreciation35
Capital assets-land23,434,129
Total assets49,097,772
LIABILITIES
Current liabilities:
Accounts payable11
Accrued wages13,338
Compensated absences18,718
Total current liabilities32,067
Noncurrent liabilities:
Compensated absences67,249
Total noncurrent liabilities67,249
Total liabilities99,316
NET POSITION
Net position:
Net investment in capital assets23,434,164
Restricted9,254,104
Unrestricted 16,310,188
Total net position48,998,456$
I-1
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMPONENT UNIT
COMPREHENSIVE PLAN LAND AUTHORITY
STATEMENT OF ACTIVITIES
SEPTEMBER 30, 2014
General revenues
Intergovernmental4,378,316$
Investment Income4,654
Land contributions 250
Total general revenues4,383,220
Program expenses
Land contribution conveyances54,321
General government314,328
Total program expenses368,649
Increase in net position4,014,571
Net position, beginning of year44,983,885
Net position, end of year48,998,456$
I-2
ReportofIndependentAuditoronInternalControlOver
FinancialReportingandonComplianceandOtherMatters
BasedonanAuditofFinancialStatementsPerformedin
Accordancewith GovernmentAuditingStandards
To the Clerk Ex Officio, 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 the financial audits contained in Government Auditing Standards issued by the
Comptroller General of the United States, the financial statements of each major fund, the discretely presented
component unit, and the aggregate remaining fund information of the Monroe County, Florida Board of County
Commissioners (the "Board") as of and for the year ended September 30, 2014, and the related notes to the
financial statements, which collectively comprise the Board’s basic financial statements, and have issued our
report thereon dated March 31, 2015 for the purpose of compliance with Section 218.39(2), Florida Statutes,
and Chapter 10.550, Rules of the Auditor General-Local Governmental Entity Audits.
InternalControlOverFinancialReporting
In planning and performing our audit of the financial statements, we considered the Board’s internal control over
financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances
for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an
opinion on the effectiveness of the Board’s internal control. Accordingly, we do not express an opinion on the
effectiveness of the Board’s internal control.
Our consideration of internal control was for the limited purpose described in the preceding paragraph and was
not designed to identify all deficiencies in internal control that might be material weaknesses or significant
deficiencies and therefore, material weaknesses or significant deficiencies may exist that were not identified.
However, as described in Appendix A – Financial Statement Findings, we identified certain deficiencies in
internal control that we consider to be material weaknesses and a significant deficiency.
Adeficiency 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 Board’s financial
statements will not be prevented, or detected and corrected on a timely basis. We consider the deficiencies
2014-001 and 2014-002 noted in Appendix A – Financial Statement Findings to be material weaknesses.
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. We consider
the deficiency 2014-003 noted in Appendix A – Financial Statement Findings to be a significant deficiency.
ComplianceandOtherMatters
As part of obtaining reasonable assurance about whether the Board's financial statements are free from material
misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and
grant agreements, noncompliance with which could have a direct and material effect on the 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
ResponsestotheFindings
The Board’s responses to the findings identified in our audit are described in Appendix A – Financial Statement
Findings. The Board’s responses were not subjected to the auditing procedures applied in the audit of the
financial statements and accordingly, we express no opinion on them.
PurposeofthisReport
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 Board’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 Board’s internal control and compliance. Accordingly, this communication is not
suitable for any other purpose.
Orlando, Florida
March 31, 2015
J-2
MONROECOUNTY,FLORIDA
BOARDOFCOUNTYCOMMISSIONERS
APPENDIXAΑFINANCIALSTATEMENTFINDINGS
Finding 2014-001
Material Weakness
Training and Review
Criteria: An effective system of internal control contemplates that management properly maintain books and
record transactions to ensure the accuracy of the financial statements. This includes ensuring that all employees
have the proper training and qualifications in order to perform their assigned functions and that the work
performed is reviewed in a timely manner to ensure accuracy.
Condition: During our audit we noted instances where Finance staff did not appear to have the training
necessary to perform their assigned functions. Additionally we noted a lack of oversight or review of the work
performed.
Certain specific instances include:
Vacancies existed in accounting staff positions which resulted in a number of accounting issues
throughout the year. At times transactions were not posted accurately or timely.
Training of new hires was a challenge due to the lack of experience of existing staff.
Individuals were hired that did not have governmental experience.
The majority of the staff in key positions in the Finance office had less than one year of experience.
Written procedural manuals did not exist.
Effect: The County books and records on a monthly basis were not up to date and review processes were not in
place.
Cause: Due to significant turnover in office staff, the Finance Division operated short staffed for most of the past
year. The turnover of staff has adversely affected the Clerk’s ability to properly train newly hired staff and to
effectively review their work for accuracy and timeliness.
Recommendation: We recommend that the Clerk hire sufficient Finance staff with the proper qualifications and
provide them with appropriate training and oversight to ensure that records can be maintained in a timely
fashion in order to provide accurate and reliable financial information.
Management Response: Fellow Florida Clerks provided experienced personnel to assist with financial
responsibilities as well as hosting Clerk’s financial staff for in depth training. In addition, the Clerk utilized the
services of a CPA firm recommended by the Florida Clerks and Comptroller’s Association and hired an outside
CPA consultant recommended by the County’s external auditors. Finance staff with the proper qualifications
have been hired and/or promoted. Standard operating procedures and “HOW TO” manuals with illustrated
examples of the tasks have been created and implemented.
J-3
MONROECOUNTY,FLORIDA
BOARDOFCOUNTYCOMMISSIONERS
APPENDIXAΑFINANCIALSTATEMENTFINDINGS
2014-002
Material Weakness
Close out procedures
Criteria: An effective system of internal control contemplates that management properly maintain books and
records to ensure the accuracy of the financial statements. Reconciliations of the accounts should be prepared
in a timely manner to ensure completeness and accuracy of the financial information and to allow for timely
reporting.
Condition: During our audit we noted numerous instances where the reconciliations of significant accounts
were not performed in a timely manner and where amounts were recorded in error.
Certainspecific instances include:
Reconciliations of all accounts were not done on a monthly basis which resulted in transactions being
posted, in some cases, months after they occurred.
The books and records for the year ended September 30, 2014 of the County were not finalized until
well after year-end.
The reconciliation of the due to/due from accounts between the constitutional officers and the County
were not completed until 4 months after year end.
Governmental capital assets were not updated in the subsidiary ledger and reconciled to the general
ledger until well after the year end.
Expenditures of federal and State awards were not recorded, reviewed and reconciled on a routine
basis and delayed the closing of the books as well as the preparation of the Schedule of Expenditures
of Federal Awards and State Financial Assistance Projects.
The County’s reliance on a contractor to provide wastewater assessment receivable balances resulted
in a timing difference of an adjustment to these balances which affected the fiscal year 2013 and 2014
financial statements.
Effect: The County books and records on a monthly basis were not up to date and review processes were not
being performed on a timely basis. As a result reports may be filed incorrectly and not on a timely basis.
Unposted expenditures could compromise budget controls.
Cause: Due to significant turnover in the Finance office staff, the County has lost the institutional knowledge of a
number of key employees and has operated short staffed for most of the fiscal year. The undocumented
procedures adversely affected the ability to maintain proper internal controls over the processes necessary to
assure the financial records are accurate and up to date.
Recommendation: We recommend that the hiring of sufficient Finance staff with the proper qualifications to
ensure that records can be maintained and reconciled in order to provide accurate and timely financial
information.
Management Response: Fellow Florida Clerks provided experienced personnel to assist with financial
responsibilities as well as hosting Clerk’s financial staff for in depth training. In addition, the Clerk utilized the
services of a CPA firm recommended by the Florida Clerks and Comptroller’s Association and hired an outside
CPA consultant recommended by the County’s external auditors. Finance staff with the proper qualifications
have been hired and/or promoted. Standard operating procedures and “HOW TO” manuals with illustrated
examples of the tasks have been created and implemented.
J-4
MONROECOUNTY,FLORIDA
BOARDOFCOUNTYCOMMISSIONERS
APPENDIXAΑFINANCIALSTATEMENTFINDINGS
2014-003
Significant Deficiency
Electronic Transactions
Criteria: An effective system of internal control surrounding electronic transactions (wire transfers and ACH
transactions) contemplates that management properly maintain controls to ensure that all transactions are being
appropriately approved and executed consistent with County cash disbursement policy and procedures as well
as industry best practices. This would include maintaining controls to ensure that sufficient authorization is
obtained prior to the execution of a transaction and that no unauthorized transactions occur. Further,
segregation of duties should be maintained between the individuals approving the transaction and executing the
transaction with the financial institution.
Condition and Context: During our testing of electronic transactions we noted instances where proper controls
were not in place, some of which resulted in errors which had to be reversed.
Effect: The County could disburse public funds in a manner that is not consistent with County policy and for
unallowable costs and purposes.
Cause: Due to limited staffing there is a weak control environment surrounding the electronic transactions.
Recommendation: We recommend that the County establish procedures to ensure that proper controls
(including approval, authorized execution and segregation of duties) are maintain surrounding electronic
transactions.
Management Response: Internal Controls as well as backup controls are in place for electronic transactions.
Additional protection implemented by the Clerk include "ACH and Electronic Blocking" on all Clerk and BOCC
bank accounts. This feature will prompt the bank to require an approval from finance personnel on all
electronic "debit" transactions.
The "Positive Pay" layer of security has been in place for years for all physical checks issued. Applying this
similar technology to the electronic transactions will strengthen the County's financial security.
J-5
Independent!ǒķźƷƚƩƭManagementLetter
To the Clerk Ex Officio, Mayor and
Board of County Commissioners of
Monroe County, Florida:
Report on the Financial Statements
We have audited the financial statements of each major fund, the discretely presented component unit, and the
aggregate remaining fund information of the Monroe County, Florida Board of County Commissioners (the
"Board") as of and for the year ended September 30, 2014, and have issued our report thereon dated March 31,
2015.
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; and Chapter 10.550, Rules of the Auditor General.
Other Reports
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; and our Report of Independent Accountant on Compliance with Local
Government Investment Policies regarding compliance requirements in accordance with Chapter 10.550, Rules
of the Auditor General.Disclosures in those reports, which are dated March 31, 2015, should be considered in
conjunction with this management letter.
Prior Audit Findings
Section 10.554(1)(i)1., 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. We have addressed the status of findings and recommendations made in the preceding annual financial
report in Appendix B attached to this letter.
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.
Other Matters
Section 10.554(1)(i)2., Rules of the Auditor General, requires that we address in the management letter any
recommendations to improve financial management. See Appendix A for our recommendations. We did not
audit the Board’s responses to these matters, which are also provided in Appendix A, and, accordingly, we
express no opinion on them.
Section 10.554(1)(i)3., Rules of the Auditor General, requires that we address noncompliance with provisions of
contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect
in the financial statements that is less than material but which warrants the attention of those charged with
governance. In connection with our audit, we did not have any such findings.
J-6
Purpose of this Letter
The purpose of this management letter is to communicate certain matters prescribed by Chapter 10.550, Rules
of the Auditor General. Accordingly, this management letter is not suitable for any other purpose.
Orlando, Florida
March 31, 2015
J-7
MONROECOUNTY,FLORIDA
BOARDOFCOUNTYCOMMISSIONERS
MANAGEMENTLETTERCOMMENTS(CURRENTYEAR)ΑAPPENDIXA
2014-001 IT Best Practice Recommendation – Risk Assessment
Observation:
During our review of the internal controls over information technology we noted that the County has not
performed a formal risk assessment of the information technology that is currently in place. A risk assessment is
an assessment of the risk faced by information technologies at the County. This document should identify and
classify potential risks to the central IT infrastructure and resources, document obstacles precluding elimination
of these identified risks and then recognize the County’s acceptance of those risks. A risk assessment should
be updated with the results of audits, inspections, and identified incidents. The scope should include risks
related to the confidentiality, availability, and integrity of critical data and resources. As a main deliverable of
this risk assessment, documented policies and procedures related to IT Security should be developed and
implemented. Once approved the policies and procedures should be updated annually and approved by the
executive level. Additionally all employees should sign-off on these policies stating they agree to adhere to set
policies and procedures.
Recommendation:
We recommend that the County IT management perform and document a formal IT Risk Assessment of the
information technology that is currently in place.
Management Response:
As part of the County’s ongoing commitment to quality improvement, the County is in the process of drafting a
plan to initiate a review of the County’s information technology processes and procedures during 2015. The
review will include a comprehensive evaluation of the risks currently associated with information systems of the
County as well as a risk mitigation plan, information systems security policies and procedures and a disaster
recovery program.
2014-002 IT Best Practice Recommendation – Information Security Policy
Observation:
A formal Information Security Policy which defines the security objective for the County has not been developed
and implemented by the County. A policy should be established to define requirements to requesting and
granting access, terminating access, and periodically reviewing access. Additionally procedures should be
implemented to define minimum requirements for password security, confidentiality of information, and
segregation of duties guidelines within the application. The policy should also outline the security policies of the
County that are in place to restrict physical and logical access to sensitive data as well as network security,
back-up and disaster recovery procedures. The program should be reviewed and updated annually to accurately
reflect changes in the information systems environment.
Recommendation:
We recommend that the County IT management develop and implement a formal Information Security Policy.
This lack of documentation could result in inadequate implementation of the Board’s IT security controls.
J-8
MONROECOUNTY,FLORIDA
BOARDOFCOUNTYCOMMISSIONERS
MANAGEMENTLETTERCOMMENTS(CURRENTYEAR)ΑAPPENDIXA
Management Response:
As part of the County’s ongoing commitment to quality improvement, the County is in the process of drafting a
plan to initiate a review of the County’s information technology processes and procedures during 2015. The
review will include a comprehensive evaluation of the risks currently associated with information systems of the
County as well as a risk mitigation plan, information systems security policies and procedures, and a disaster
recovery program.
2014-003 IT Best Practice Recommendation – Segregation of Duties
Observation:
During our review of access and security controls, we noted that the County does not maintain proper
segregation of duties over the process of physically providing user access and a timely review of the user
access change logs. The Finance Director is responsible for physically providing user access to various financial
applications (as approved by others in the organization) and the user access change log is currently reviewed
annually. This constitutes an inadequate level of segregation of duties between the end users of the system and
the security administration function, which could result in inappropriate access.
Recommendation:
It is recommended that a monthly review of the user access change log be instituted and performed by an
appropriate party.
Management Response:
A proper segregation of duties is currently in place. The appropriate level of the Clerk’s management team
determines that an employee should be granted access to the financial application. A standard form is filled out
and signed by management authorizing the access and the form is routed and delivered to the Clerk’s IT
department. The Clerk’s IT department then provides the person’s ability to access the finance server. Once
electronic access is completed, the signed form is forwarded to the application’s administrator (currently it is the
Assistant Finance Director with the Finance Director as the back-up Administrator). The administrator then uses
their password protected secure authority to provide the designated employee the user access to the approved
financial application according to the form.
The Clerk currently reviews the log of changes to approved users of the financial application on an annual basis
but agreed that the Clerk or a member of the Clerk’s staff who is not assigned to the Finance Division will be
reviewing the access logs on a more frequent basis.
J-9
MONROECOUNTY,FLORIDA
BOARDOFCOUNTYCOMMISSIONERS
MANAGEMENTLETTERCOMMENTS(PRIORYEAR)ΑAPPENDIXB
2013-001 SRF Loan Requirement - Corrected
Observation:
An email was sent to a former employee’s email address after she was no longer employed by the County. The
email requested an audit of the Big Coppitt State Revolving Fund (“SRF”) loan. Because the former employee’s
email account was not being closely monitored, the County was not aware of the audit request until close to the
due date of the audit. Important communications from outside parties could be overlooked if former employee
emails are not closely monitored particularly in a time of high staff turnover.
Recommendation:
We recommend that the County put procedures in place to ensure that emails sent to employees that have
terminated are routed to proper management or replacement employees so that emails of significance and
importance do not go overlooked and unaddressed.
Management Response:
According to County IT staff, emails sent to employees who leave the County’s employment are routed to
proper management or replacement employees for six months.
2013-002 Procurement Card Testing - Corrected
Observation:
During audit testing over procurement cards, we noted that at times procurement card accounts are being paid
late due to the fact that supporting documentation (i.e. receipts) to substantiate the purchase is not being
provided to Finance in a timely manner. Late payment of procurement card statements results in the card being
rendered unusable to the holder until payment is made.
Recommendation:
We recommend that the County put procedures in place to ensure that supporting documentation for
procurement card purchases be obtained and provided to Finance in a timely manner.
Management Response:
The process was streamlined in FY 14 by the BOCC so that supporting documentation is now provided in a
more timely manner, thus avoiding late payment of procurement card statements.
J-10
MONROECOUNTY,FLORIDA
BOARDOFCOUNTYCOMMISSIONERS
MANAGEMENTLETTERCOMMENTS(PRIORYEAR)ΑAPPENDIXB
2013-003 IT Best Practice Recommendation – Risk Assessment
Observation:
During our review of the internal controls over information technology we noted that the County has not
performed a formal risk assessment of the information technology that is currently in place. A risk assessment is
an assessment of the risk faced by information technologies at the County. This document should identify and
classify potential risks to the central IT infrastructure and resources, document obstacles precluding elimination
of these identified risks and then recognize the County’s acceptance of those risks. A risk assessment should
be updated with the results of audits, inspections, and identified incidents. The scope should include risks
related to the confidentiality, availability, and integrity of critical data and resources. As a main deliverable of
this risk assessment, documented policies and procedures related to IT Security should be developed and
implemented. Once approved the policies and procedures should be updated annually and approved by the
executive level. Additionally all employees should sign-off on these policies stating they agree to adhere to set
policies and procedures.
Recommendation:
We recommend that the County IT management perform and document a formal IT Risk Assessment of the
information technology that is currently in place.
Management Response:
See current year management letter comment 2014-001
2013-004 IT Best Practice Recommendation – Information Security Policy
Observation:
A formal Information Security Policy which defines the security objective for the County has not been developed
and implemented by the County. A policy should be established to define requirements to requesting and
granting access, terminating access, and periodically reviewing access. Additionally procedures should be
implemented to define minimum requirements for password security, confidentiality of information, and
segregation of duties guidelines within the application. The policy should also outline the security policies of the
County that are in place to restrict physical and logical access to sensitive data as well as network security,
back-up and disaster recovery procedures. The program should be reviewed and updated annually to accurately
reflect changes in the information systems environment.
Recommendation:
We recommend that the County IT management develop and implement a formal Information Security Policy.
This lack of documentation could result in inadequate implementation of the Board’s IT security controls.
Management Response:
See current year management letter comment 2014-002
J-11
MONROECOUNTY,FLORIDA
BOARDOFCOUNTYCOMMISSIONERS
MANAGEMENTLETTERCOMMENTS(PRIORYEAR)ΑAPPENDIXB
2013-005 CSFA 55.004 - Aviation Development Grants
Key West International Airport - Corrected
Observation:
During audit testing over the Airport Improvement Program we noted that all five of the reimbursements tested
did not have a signature indicating the review of the reimbursement request. This signature is not required per
the compliance supplement or grant agreement; however, we feel that this is a best practice to ensure that the
reimbursement request is for an allowable activity / allowable cost. Review of all reports filed will help to ensure
proper reporting.
Recommendation:
We recommend that the County put procedures in place to ensure reimbursement requests are signed by the
reviewer, signifying that the reimbursement request has been reviewed and is for an allowable activity /
allowable cost.
Management Response:
The Airport has implemented a procedure whereby all reimbursement requests are reviewed by the appropriate
staff, and documented accordingly, prior to their submission. A master reimbursement request log has also
been developed and implemented documenting all pertinent details including preparer, reviewer, date of
preparation and date of review, amount requested and applicable grant.
J-12
ReportofIndependentAccountantonCompliance
withLocalGovernmentInvestmentPolicies
To the Clerk Ex Officio, Mayor and
Board of County Commissioners of
Monroe County, Florida:
ReportonCompliance
We have examined the Monroe County, Florida Board of County Commissioners’ (the “Board”) compliance with
the local government investment policy requirements of Section 218.415, Florida Statutes, during the year
ended September 30, 2014. Management is responsible for the Board’s compliance with those requirements.
Our responsibility is to express an opinion on the Board’s compliance based on our examination.
Scope
Our examination was conducted in accordance with attestation standards established by the American Institute
of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the
Board’s compliance with those requirements and performing such other procedures as we considered
necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion.
Our examination does not provide a legal determination on the Board’s compliance with specified requirements.
Opinion
In our opinion, the Board complied, in all material respects, with the aforementioned requirements for the year
ended September 30, 2014.
Orlando, Florida
March 31, 2015
J-13