Fiscal Year 2009 IMONROE COUNTY, FLORIDA
TAX COLLECTOR
Financial Statements
For the Year Ended
September 30, 200
MONROE COUNTY,, FLORIDA
TAX COLLECTOR
Table of Contents
Page
Independent Auditors' Report_...
BASIC FINANCIAL STATEMENTS
Balance Sheet - General Fund
4
Statement of Revenues, Expenditures and Changes in
Fund Balance - General Fund
5
Statement of Fiduciary Assets and Liabilities - Agency Funds 6
Notes to Financial Statements .. ...--...--........... ....... 7 - 12
REQUIRED SUPPLEMENTARY INFORMATION
Schedule of Revenues and Expenditures - Budget and Actual -
General Fund ......._............ ....... 13
OTHER SUPPLEMENTARY INFORMATION
Agency Fund Descriptions ... ........ 14
Combining Statement of Changes in Assets and
Liabilities - All Agency Funds ......... 15
SUPPLEMENTARY INDEPENDENT AUDITORS' REPORTS
Independent Auditors' Report on Internal Control Over Financial
Reporting and on Compliance and Other Matters Based on an
Audit of Financial Statements Performed in Accordance with
Gover went Aid iting Standards ............ ........---........ 16 - 17
Independent Auditors' Management Letter-...........--- . ....... ... 18 - 19
4
INDEPENDENT AUDITORS'' REPORT
To the Honorable l anise D. Henri'quez,
Tax Collector of Monroe County, Florida:
We have audited the accompanying financial statements of the major fund and throe
aggregate remaining fund information, of the Monroe County, Florida Tax Collector (the
"Tax Collector") as of and for the year ended September 30, 2009, which collectively
comprise the Tax Collector's basic financial statements as listed in the table of
contents. These financial statements are the responsibility of the Tax Collector's
management. Our responsibility is to express opinions on these financial statements
based oil our audit.
We conducted our audit in accordance with auditing standards generally accepted in
the United .Mates of America and the standards applicable to financial audits contained
in Govern mrmer7t 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 includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit also includes assessing
the accounting principles used and significant estimates made by management, as well
as evaluating the overall financial statement presentation. We believe that our audit
provides a reasonable basis for our opinions.
As discussed in Note 1, the accompanying financial statements were prepared for the
purpose of complying with Section 1 . 0(2), Florida Statutes, and Chapter 10.550,
Rules of the AuditorGeneral-Local Crmverrmrrm nt Entity Audits, and are not intended to
be a complete presentation of the financial position of Monroe County„ Florida, and the
results of its operations and the cash flows of its proprietary funds in conformity with
accounting principles generally accepted in the United States of America.
In our opinion, the financial statements referred to above present fairly, in all material
respects, the financial position of the major fund and the aggregate remaining fund)
information of the Tax Collector as of September 00, 2009, and the respective changes
in financial position thereof for the year then ended, in conformity with accounting
principles generally accepted in the United .Mates of America.
2
In accordance with Governnient Auditing Standafds, we have also issued Our report
dated ~January 30, 2010, on our consideration of the Tax Collector'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 all 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 Audifing Standards and should
be considered in assessing the results Of Our audit.
The budgetary comparison schedule on page 13 is not a, required part of the basic
financial statements but is supplementary information required by the Governmental
Accounting Standards Board, We have applied certain limited procedures, which
consisted principally of inquiries of management regarding the methods, of
measurement and presentation of the required supplementary information. However,
we did not audit the information and we express no opinion on it,
Our audit was performed for the purpose of forming opinions on the financial'
statements that collectively comprise the Tax Collector's basic financial statements. The
accompanying combining statement of changes in assets and liabilities — all agency
funds is presented for purposes of additional analysis and is not a required part of the
basic financial staternents. This combining statement has been subjected to the
auditing procedures applied in, the audit of the basic financial statements and, in our
opinion, is fairly stated, in all material respects, in relation to the basic financial
statements taken as a whole.
This, report is intended solely for the information and use of management and
applicable state agencies, and is not intended to be and should not be used by anyone
other than these specified parties.
CHERRY BEKAERT & HOLLAND, L.L.P.
)A Juk L.
Orlando, Florida
January 30, 2010
3
BASIC FINANCIAL STATEMENTS
MONROE COUNTY, FLORIDA
TAX COLLECTOR
Balance Sheet - General Fund
September 30, 2009
Assets
Cash and cash equivalents $ 3,653,732
Prepaid expenses 5,436
Due frorn Board Of County Commissioners 8,979
Due from other governments 4,78,4
Total Assets $ 3,672,931
Liabilities and Fund Balance
Liabilities
AcCOUnts payable $ 30,805
Accrued wages and benefits payable 135,612
Due to Board of County Commissioners 3,141,342
DUe to other governmental units 365,172
Total Liabilities 3,,672,931
Fund Balance -
Total Liabilities and Fund Balance $ 3,672,931
The notes to the financial statements
are an integral part of this statement. 4
MONROE COUNTY, FLORIDA
TAX COLLECTOR
Statement of revenues, Expenditures and Changes in Fund Balance
General Fund
Year Ended September 30, 2009
Revenues
Charges for services ,55 ,5 7
Expenditures
General government
Personnel services 2,837,417
Operating expenditures 674,425,
Total expenditures 3,511,842
Excess of expenditures over revenues (958,315)
Other financing sources (uses)
Transfer from Board of County Commissioners 4,464,829
Transfer to Board of County Commissioners ( ,141, 42)
Transfer to other governmental units (365,172)
Total other financing sources 958,315
Excess of revenues over expenditures and other -
financing use
Fund balance at beginning of year -
Fund balance at end of year -
The notes to the financial statements
are an integral part of this statement. 5
MONROE COUNTY, FLORIDA
TAX COLLECTOR
Statement of Fiduciary Assets and Liabilities
Agency Funds
September 30, 2009
Assets
Cash and cash equivalents 5,492,082
Due from individuals 3,520
Total assets $ 5,495,602
Liabilities
Undistributed collections $ 5,386,942
DUe to individuals 108,660
Total liabilities $ 5,495,602
The notes to the financial statements
are an integral part of this statement, 6
MONROE COUNTY, FLORIDA
TAX COLLECTOR
Notes to Financial Statements
Year Ended September 30, 2009
Note 1 - Surnmary of significant accounting policies
Reporting Entity- The Monroe County, Florida Tax Collector (the "Tax Collector") is a
separately elected County official established pursuant to the Constitution of the State
of Florida, The Tax Collector's financial statements do not purport to reflect the financial
position or the results of operations of Monroe, County, Florida (the "County") taken as a,
whole.
Entity status for financial reporting purposes is governed by Statements No. 14 and 39
of the Governmental Accounting Standards Board (GASB). Although the Tax Collector"s
Office is operationally autonomous, it does not hold sufficient corporate powers of its
own to be considered a legally separate entity for financial reporting purposes.
Therefore, the Tax Collector is reported as a part of the primary government of the
County.
Description of Funds - The accounting records are organized for reporting purposes
on the basis of a governmental fund and fiduciary funds,
General Fund - The General Fund is used to account for all revenues and
expenditures applicable to the general operations of the Tax Collector and not
required legally or by accounting standards generally accepted in the United
States of America to be reported elsewhere,
Fiduciary Funds- Fiduciary funds of the Tax Collector are Agency Funds, which
are used to account for assets held by the Tax Collector as an agent,
Measurement Focus, Basis of Accounting, and Financiai Statement Presentation
- The Tax Collector's financial statements, are prepared in accordance with Chapter
10.550, Rules of the Auditor. General, which requires the Tax Collector to only present
fund financial staternents.
The General Fund is used to account for all revenues and expenditures applicable to
the general operations of the Tax Collector. This fund is presented as a! major
governmental fund and uses the current financial resources measurement focus and
the modified accrual basis of accounting, Revenues are recognized when measurable
and available. Revenues are considered to be available when they are collectible within
the current period or soon enough thereafter to pay liabilities of the current period, For
this purpose, the Tax Collector considers revenues to be available if they are collected
within 60 days of the end of the current fiscal period. Expenditures generally are
recorded when a liability is incurred, as under accrual accounting. However,
expenditures related to compensated absences, and claims and judgments are
recorded: only when payment is due.
7
MONROE COUNTY, FLORIDA
TAX COLLECTOR
Notes to Financial Statements
Year Ended September 30, 2009
Note I - Summary of significant accounting policies (continued)
The extent to which General Fund revenues exceed expenditures is reflected as
transfers out and as liabilities to the Monroe County Board of County Commissioners
(the "Board") and other governmental agencies in the same proportion as fees paid by
each governmental unit to total fees, earned by the Tax Collector.
Budgetary Requirements — Expenditures are controlled by budget appropriations in
accordance with the budget requirements set forth in the Florida Statutes, The budget
is prepared on a basis consistent with accounting principles generally accepted in the
United States of America,
Cash and Cash Equivalents — The Tax Collector's cash and cash equivalents consist
of demand deposits and highly liquid investments with maturities of 90 days or less
when purchased. All: investments are reported at fair value.
Capital Assets— Tangible personal property used in the Tax Collector's operations are
recorded as expenditures in, the General Fund at the time assets are received and a
liability is incurred. Purchased assets are capitalized at historical cost in the
government-wide financial staternents of the County. In addition, the Board of County
Commissioners provides at no cost administrative office space used by the Tax
Collector.
Compensated Absences — The Tax Collector permits employees to accumulate
earned but unused vacation and sick pay benefits. Related long-term obligations,
announting to $141,177 at Septernber 30, 2009, are included in the government-wide
financial statements of the County,
Use of Estimates - The preparation of financial statements requires management to
i-nake use of estimates that affect reported amounts. Actual results could differ from
estimates.
Note 2— Deposits and Investments
As of September 30, 2009, the Tax Collector has demand deposits with a carrying
amount of$,9,136,089 and a bank balance of$9,166,,727.
Demand and time, deposits are fully insured by the Federal Deposit Insurance
Corporation 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 if a member institution fails.
8
MONROE COUNTY, FLORIDA
TAX COLLECTOR
Notes to Financial Statements
Year Ended September 30, 2009
Note 2 — Deposits and Investments (con,tinued)
Florida Statutes and the Tax Collector's investment policy authorize investments in
certificates of deposit, savings accounts, repurchase agreements, Local Government
Surplus Funds Trust Fund administered by the Florida State Board' of Administration,
money market funds, direct obligations of the U,S, Treasury and federal agencies and
instrumentalities.
Note 3— Retirement System
Plan Descrip don— The Tax Collector's employees participate in the Florida Retirement
System ("FRS"), administered by the Florida Department of Administration. Employees
elect to participate in either the defined benefit plan ("Pension Plan"), a cost sharing,
multiple-employer, 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 for a state
agency, county government, district school board, state university, community college,
or a participating city or special district within the State of Florida. The FRS provides
retirement and disability benefits, annual cost-of-living adjustments, and death benefits
to Plan members and beneficiaries. Benefits are established by Chapter 121, Florida
Statutes, and Chapter 60S, Florida Administrative Code. Amendments to the law can
be made only by an act of the Florida Legislature.
Benefits are computed on the basis of age, average final compensation, and service
credit. Regular class employees who retire at or after age 62 with 6 years of credited
service or 30 years of service regardless of age are entitled to a retirement benefit
payable monthly for life, equal to 1.6% of their final average compensation for each
year of credited service, Vested employees with less than 30 years of service may retire
before age 62 and receive reduced retirement benefits. Special risk class employees
(sworn law enforcement officers, firefighters, and correctional officers) who retire at or
after age 5,5 with 6 years of credited service, or with 25 years of service regardless of
age, are entitled to a retirement benefit payable monthly for life equal to 3.0% of their
final average compensation for each year of credited service, Senior Management
Service class employees who retire at or after age 62 with at least 6 years of credited
service or 30 years of service regardless of age are entitled to a retirement benefit
payable monthly for life, equal to 2.0% of their final average compensation for each
year of credited service. Elected Officers" class employees who retire at or after age 62
with at least 6 years of credited service or 30 years of service regardless of age are
entitled to a retirement benefit payable monthly for life, equal to 3.0% (3-33% for judges
and justices) of their final average compensation for each year of credited service. A
post-employment health insurance subsidy is also provided; to eligible retired
employees through the FIRS in accordance with Florida Statutes.
0;
MONROE COUNTY, FLORIDA
TAX COLLECTOR
Notes to Financial Statements
Year Ended September 30, 2009
Note 3 — Retirement System (continued)
In addition to the above benefits, the FRS administers a Deferred Retirement Option
Prograrn ("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 electing 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.
The State of Florida annually issues a publicly available financial report that includes
financial statements and required supplementary information for the FRS. The latest
available report may be obtained by writing to the State of Florida Division of
Retirement, Department of Management Services, 2639 North Monroe Street,
Building C, Tallahassee, Florida 32299-1560 or accessing their internet site at
www,frs,state J 1.us.
Funding Policy — The FRS is noncontributory for members, Governmental employers
are required to make contributions to the FIRS based on statewide contribution rates.
The contribution rates by job class at September 30, 2009 were as follows: regular,
9,85% special risk, 20.92%; special risk administrative support, 12.55%-, county elected
officers, 16,53%; senior management, 13,12%; and DROP participants, 10,91%.
During the fiscal year ended September 30, 2009, the Tax Collector contributed to the
Plan an amount equal to 10�,3,3% of covered payroll. Tax Collector contributions to the
FRS for the fiscal years ended September 30, 2007 through 2009 were $2 ,904,
$248,597' and $,249,060, respectively, which were equal to the required contributions for
each fiscal year, The Tax Collector has historically contributed amounts equal to
required contributions and, therefore, does not have a pension asset or liability as
determined in accordance with CASE Statement No. 27.
Note 4—Other Postemployment Benefits (OPEB)
The Monroe County Board of County Commissioners (BOCC) administers a single-
employer defined benefit healthcare plan (the "Plan"). In accordance with Section
112.0801 of the Florida Statutes, the BOCC is required to provide retirees with the
opportunity to participate in this Plan because Monroe County provides a medical plan
to active County employees. The Plan provides health care benefits including medical
coverage, prescription drug, benefits, dental benefits and life insurance coverage to both
active and eligible retired employees, The Plan does not issue a publicly available
financial report.
10
MONROE COUNTY,, FLORIDA
TAX COLLECTOR
Notes to Financial Statements
Year Ended September 30, 2009
Note 4 — Other Posternployment Benefits (OPEB) (continued)
The BOCC may arnend the plan design, with changes to the benefits, prerniums, and/or
levels of participant contribution at any tirne. The B4OCC approves the rates for the
coming calendar year for the retiree and County contributions at an open meeting prior
to the annual enrollment process..
Eligibility for post employment participation in the Plan is limited to full time employees
of the Board, the Constitutional Officers, the Land Authority, and retirees. Retirees hired
after October 1, 2001 must contribute, the premium determined by the BOCC for all
participants prior to the annual enrollment process. Retirees, hired before October 1,
2001, who retire from the County with 10 years of full-time service and are covered by
the Florida Retirement System, must contribute $50 from each Florida Health Insurance
Subsidy payment from the Florida Retirement System, Other conditions apply to
employees hired before October 1, 2001 who have retired before the normaI retirement
date, have not reached age 60, and whose age and years of service to the County do
not equal 70.
In conjunction with the implementation of GASB Statement 45 during fiscal year 2008,
the BOCC engaged an actuarial firm, to determine the County's actuarially determined
annual required contribution and unfunded obligation. The Tax Collector has no
responsibility to the Plan other than to make the periodic payments determined by the
BOCC. Further information about the Plan is available in the County's Comprehensive
Annual Financial Report which is published on the Clerk's website at www.clerk-of-the-
COLM.COM.
Note 5— Risk Management
The Tax Collector 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. The Tax Collector participates in the coverage provided by the Board for
Worker's Compensation, Group Insurance, and Risk Management internal service
funds. Under these programs, Worker's Compensation provides $1,000,000, coverage
per claim for regular employees, Risk Management has a 5,0OO,000 excess insurance
policy for general liability claims with a $10,0,000 self-insured retention, and building
property damage is covered for the actual value of the buildings with a deductible
between $100,000 and $250,000. Deductibles for windstorm and flood vary by location,
The County 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. The Tax Collector makes
payments to the Worker's Compensation, Group Insurance and Risk Management
Funds based on estimates of the amounts needed to pay prior and current year claims.
11
MONROE COUNTY, FLORIDA
TAX COLLECTOR
Notes to Financial Statements
Year Ended September 30, 2009
Note 6 — Commitments
Operating Leases — The Tax Collector leases office space and equipment Linder
operating lease agreemen:ts. Total lease payments made in 20�09 were $93,074.
The following is a schedule by years of future minimum rentals, under non-cancelable
operating leases as of September 30, 2009:
Year Ending Lease
--September 30 Payments
2010 $ 70,953
2011 39,558
2012 36,710
2013 8,649
2014 515
Total $ 156,385
Note 7 — Litigation
The Tax Collector is a party from time to firne in various lawsuits and other clairns
incidental to the ordinary course of its operation, some of which are covered by the
Board's self-insurance program. While the results of litigation cannot be predicted with
certainty, management believes the final outcome of such litigation will' not have a
material adverse effect on the Tax Collector's financial position,
12
REQUIRED SUPPLEMENTARY INFORMATION
MONROE COUNTY, FLORIDA
TAX COLLECTOR
Schedule of Reverrues and Expenditures-
Budget and Aclual-GeneraG Fund
Yew Ended Septembet 30, 2009
General Fund
.... ....................
Variance
Original Final Positive
Actual
Revenues
Charges for services $ 2,127 821 2 127821 $
--__2,553 527 425706
Expenditures
General government
Personnel services 2,997,660 2,987,000 2,837,417 149,583
Operating expenditures 659,087 676,747 674,425
Total expenditures 3,656,747 3,663,747 3,511,842 151,905
Excess of expenditures over revenues 528,926) (1,535,926) (958,315) 577,61:1
Other financing sources(uses)
Transfer from Board of County Commmioners 3,789,819 3,789,819 4,464,829 6 7'5,0 10
Transfer to Board of County,Commissioners (2,260,893) (2,253,893) (3,141,342) (887,449)
Transfer to oflier governmental units .......... (365,172)
ToW other financing sources(uses) 1,528,926 1,535,926 958,315
........... m.
Excess of revenues over expenditures
OTHER SUPPLEMENTARY INFORMATION
MONROE COUNTY, FLORIDA
TAX COLLECTOR
Agency Fund Descriptions
The Combining! Statement of Changes in Assets and Liabilities--All Agency Funds is
presented on the following page. The purpose of each fund shown on this statement is
described below.
Property Tax Agency Fund — To account for the collection and distribution of local
property tax funds.
Licenses Agency Fund — To account for the collection and distribution of funds
generated frorn the sale of miscellaneous state licenses.
14
MONROE COUNTY, FLORIDA
TAX COLLECTOR
Combining Statement of Changes in Assets and Liabilities
All Agency Funds
Year Ended September 30, 2009
Balance Balance
September 30, September 30,
2008 Additions Deletions 2009
Property Tax Agency
Assets
Cash and cash equivalents $, 4,582,005 $ 266,265,359 $ 265,507,259 $ 5,340,105
Due frorn individuals 2,930 - 2,875 55
$ 4,584,935 $ 266,265,359 $ 265,510,134 $ 5,3401,160
Liabilities
Undistributed collections $ 4,577,232 $ 254,147,913 $ 253,492,949 $ 5,232,1196
Due to individuals 7,703 12,1'17 446 112,017,185 1o7,964
4,584,935 $ 266,265,359 $ 265,510,134 $ 5,340,160
Licenses Agency Fund
Assets
Cash and cash equivalents $ 166,066 $ 10,233,190 $ 1 O,247,279 $ 151,977
Due from individuals 1,718 1,747 3,465
$ 167,784 $ 10,234,937 $ 10,247,279 $ '155,442
Liabilities
Undistributed collections $ 166,217 $ 10,217,265 $ 10,228,736 $ 154,746
Due to individuals 1,567 17,672 18,543 696
$ 167,784 $ 1110,234,937 $ 10,247,279 $ 155,442
Total-All Agency Funds
Assets
Cash and cash equivalents $ 4,748,071 $ 276,498,549 $ 275,754,538 $ 5,492,082
Due from individuals 4,648 1,747 2,875 3,520
$ 4,752,719 $ 276,500,296, $ 275,757,413 $ 5,495,602
Liabilities
Undistributed' collections $ 4,743,449 $ 264,365,178 $ 263,721,685 $ 5,386,942
Due to individuals 9,270 1.2,135,118 12,035,728 108 660
,
$ 4,752,719 $ 276,500,296 $ 275,757,413 $ 5,495,602
15
SUPPLEMENTARY INDEPENDENT
AUDITORS' REPORTS
r
INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL
OVER FINANCIAL. REPORTING AND ON COMPLIANCE AND OTHER
MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED
RMED
IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
To the Honorable l anise D. Henrique ,
Tax Collector of Monroe County„ Florida:
We have audited' the financial statements of the major fund and the aggregate
remaining fund information of the Monroe County„ Florida Tax Collector (the "Tax
Collector") as of and for the year ended September 30, 2009, which collectively
comprise the Tax Collector's basic financial statements, and have issued our report
thereon dated January 30, 2010 for the purpose of compliance with Section 213,39( )A
Florida Statutes, and Chapter 10,550, Rules of the Auditor General-Local
Governmental Entity Audits, 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 Mates,
Internal Control over Financial Departing
In planning and performing our audit, we considered the Tax Collector's internal control
over financial reporting as a basis for designing our audit procedures 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 Tax Collector's internal control over
financial reporting. Accordingly, we do not express an opinion on the effectiveness of
the Tax Collector's internal control over financial reporting.
A control deficiency 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 misstatements on a timely basis. A significant deficiency
is a control deficiency, or combination of control deficiencies, that adversely affects the
Tax Collector's ability to initiate, authorize„ record, process, or report financial data
reliably in accordance with generally accepted accounting principles such that there is
more than a remote likelihood that a misstatement of the Tax Collector's financial
statements that is more than inconsequential will not be prevented or detected by the
Fax Collector's internal control.
A material weakness is a significant deficiency, or combination of significant
deficiencies, that results in more than a remote likelihood that a material misstatement
of the financial statements will not be prevented or detected by the Tax Collector's
internal control,
1
Our consideration of internal control over financial reporting was for the limited purpose
described in the first paragraph of this section and would not necessarily identify all
deficiencies in internal control that might be significant deficiencies or material
weaknesses, We did not identify any deficiencies in internal control over financial
reporting that we consider to be material weaknesses, as defined above,
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Tax Collector"s financial
statements are free of material misstatement, we performed tests of its compliance with
certain provisions of laws, regulations, contracts and grant agreements, noncompliance
with which could have a direct and material effect on the determination of financial
statement amounts. However, providing an opinion on compliance with those provisions
was not an objective of our audit, and accordingly, we do not express such an opinion.
The results of our tests disclosed no instances of noncompliance or other matters that
are required to be reported under Goven7ment Auditing Standards.
This report is intended solely for the information and use of management, others within
the organization and applicable state agencies, and is not intended to be and should
not be used by anyone other than these specified parties,
CHERRY, BEKAERT & HOLLAND, L.L.P.
Orlando, Florida
January 30, 2010
17
�' I
IMIRNS
INDEPENDENT AUDITORS' MANAGEMENT LETTER
To the honorable Danise D. Henriquez,
Tax Collector of Monroe County, Florida:
We have audited the financial statements of the major fund and the aggregate
remaining fund information of the Monroe County" Florida Tax Collector (the "Tax
Collector"°), as of and for the year ended September 30, 2009, which collectively
comprise the Tax Collector's basic financial statements, and have issued our report
thereon dated January 30, 2010.
We conducted our audit in accordance with auditing standards generally accepted in the
United Mates of America; and the standards applicable to financial audits contained in.
Government ,Auditing Standards, issued by the Comptroller General of the United
States. We have issued our Independent Auditors' Report on Internal Control over
Financial Reporting and on Compliance and Other Matters Based on an Audit of
Financial Statements Performed in Accordance with Government Auditing Standards,
Disclosures in that report, dated January 30, 2010 should be considered in conjunction
with this management letter.
Additionally,, our audit was conducted in accordance with the provisions of Chapter
10.550, Rules of the Auditor General-Local Governmental Entity Audits, which govern
the conduct of local government entity audits performed in the State of Florida. This
letter includes the following information, which is not included in the aforementioned
auditors' report.
The Rules of the Auditor General (Section 1 . 54(1)(i)1) require that we determine
whether or not corrective actions have been taken to address significant findings and
recornmendations made in the preceding annual financial report. No recommendations
were made in the preceding year's annual financial report..
The Mules of the Auditor general (Section 10. 4(1)(i)2) require our audit to include a
review of the provisions of Section 21 .145, Florida Statutes, regarding the investment
Of public funds. In connection with our audit, nothing came to our attention that could
cause us to believe that the Tax Collector was in noncompliance with Section 21 ,41 5,
Florida Statutes, regarding the investment of public funds.
1
The Rules of the Auditor General (Section 10.554(1)(i)3) require that we address in the
management letter any recommendations to improve financial nianagernent. In
connection with our audit, we did not have any such recommendations,
The Rules of the Auditor General (Section M554(1)(i)4) require that we address
violations of provisions of contracts and grant agreements, or abuse that have an effect
on the financial statements that is less, than material but more than inconseqUential. In
connection with our audit, we did not have any Such findings.
The Rules of the Auditor General (Section 10.554(1)(i)5) provide that the auditor may,
based on professional judgment report the following matters that have an
inconsequential effect on financial statements, considering both quantitative and
qualitative factors: (1) violations of provisions of contracts or grant agreements, fraud',
illegal acts, or abuse, and (2) control deficiencies that are not significant deficiencies, In
connection with our audit, we did not have any such findings.
The Rules of the Auditor General (Section 1 O,554(1)(i)6) require 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, The Tax Collector is a separately elected county official
established pursuant to the Constitution of the State of Florida. There are no component
units related to the Tax Collector.
Pursuant to Chapter 119, Florida Statutes, this management letter is a public record and
its distribution is not limited. Auditing standards generally accepted in the United States
of America requires us to indicate that this letter is intended solely for the information
and use of management, the Florida Auditor General, and is, not intended to be and
should not be used by anyone other than these specified parties,
CHERRY, BEKAERT & HOLLAND, L.L.P.
Orlando, Florida
January 30, 2010
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