Fiscal Year 2018 MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
FINANCIAL STATEMENTS
As of and for the Year Ended September 30, 2018
And Report of Independent Auditor
ON
`m% Cherry Bekaert"p
CPAs&Advisors
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MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Financial Statements
For The Fiscal Year Ended September 30, 2018
TABLE OF CONTENTS
PAGE
Table of Contents A-1
Basic Financial Statements
Report of Independent Auditor B-1
Fund Financial Statements:
Balance Sheet-Governmental Funds C-1
Statement of Revenues, Expenditures, and Changes in Fund Balances-
Governmental Funds C-3
Statement of Revenues, Expenditures, and Changes in Fund Balances-Budget and Actual
Major Governmental Funds:
General Fund C-5
Fine and Forfeiture Fund C-10
Governmental Grants Fund C-12
Statement of Net Position-Proprietary Funds C-15
Statement of Revenues, Expenses and Changes in Net Position -Proprietary Funds C-19
Statement of Cash Flows-Proprietary Funds C-21
Notes to Financial Statements D-1
Required Supplementary Information:
Florida Retirement System
Schedule of the Board's Proportionate Share of Net Pension Liability-
Florida Retirement System E-1
Schedule of the Board's Contributions-Florida Retirement System E-2
Schedule of the Board's Proportionate Share of Net Pension Liability-
Health Insurance Subsidy Program E-3
Schedule of the Board's Contributions
Health Insurance Subsidy Program E-4
Pension Plan for Volunteer Firefighters and Emergency Medical Services
Schedule of Changes in the Board's Net Pension Liability and Related Ratios E-5
Schedule of Employer Contributions E-6
Post Employment Benefits Other Than Pension
Schedule of Changes in the Board's Total OPEB Liability and Related Ratios E-8
Combininq 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
Infrastructure Revenue Bonds Series 2014 Capital Projects Fund F-2
Cudjoe Regional Wastewater Capital Project Fund F-3
All Debt Service Funds F-4
(Continued)
A-1
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Financial Statements
For The Fiscal Year Ended September 30, 2018
TABLE OF CONTENTS (continued)
Combininq and Individual Fund Statements and Schedules (continued): PAGE
Combining Balance Sheet-Nonmajor Governmental Funds G-1
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances-
Nonmajor Governmental Funds G-11
Schedules of Revenues, Expenditures, and Changes in Fund Balances-Budget and Actual
Special Revenue Funds:
Affordable Housing Programs G-21
Tourist Development,All Districts,Two Cent G-22
Tourist Development,Administration and Promotional,Two Cent G-23
Tourist Development, District One G-24
Tourist Development, District Two G-25
Tourist Development, District Three G-26
Tourist Development, District Four G-27
Tourist Development, District Five G-28
Impact Fees-Roadways G-29
Impact Fees-Parks and Recreation G-30
Impact Fees-Libraries G-31
Impact Fees-Solid Waste G-32
Impact Fees-Police Facilities G-33
Impact Fees-Fire and EMS G-34
Impact Fees-Employee Fair Share Housing G-35
Fire and Ambulance, District#1 -Lower and Middle Keys G-36
Unincorporated Area Service District-Parks and Recreation G-37
Unincorporated Area Service District-Planning, Building &Zoning G-38
Municipal Policing G-40
911 Enhancement Fees G-41
Duck Key Security District G-42
Local Housing Assistance G-43
Boating Improvement G-44
Miscellaneous Special Revenue G-45
Environmental Restoration G-47
Law Enforcement Trust G-48
Court Facility Fees G-49
(Continued)
A-2
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Financial Statements
For The Fiscal Year Ended September 30, 2018
TABLE OF CONTENTS (continued)
Combininq and Individual Fund Statements and Schedules (continued): PAGE
Drug Abuse Trust G-50
Marathon Municipal Service Taxing Unit G-51
Bay Point Municipal Service Taxing Unit G-52
Big Coppitt Municipal Service Taxing Unit G-53
Key Largo Municipal Service Taxing Unit G-54
Stock Island Wastewater G-55
Conch Key Municipal Service Taxing Unit G-56
Long Key-Layton Municipal Service Taxing Unit G-57
Duck Key Municipal Service Taxing Unit G-58
Building Fund G-59
Road and Bridge Fund G-60
Clerk's Revenue Note Capital Projects Fund G-61
Infrastructure Revenue Bonds Series 2007 Capital Projects Fund G-62
Big Coppitt Wastewater Capital Project Fund G-63
Duck Key Wastewater Project Capital Projects Fund G-64
Long Key Wastewater Project Capital Projects Fund G-65
Land Acquisition Fund Capital Projects Fund G-66
Combining Statement of Net Position -Internal Service Funds H-1
Combining Statement of Revenues, Expenses, and Changes in Net Position -
Internal Service Funds H-3
Combining Statement of Cash Flows-Internal Service Funds H-5
COMPONENT UNIT
Comprehensive Plan Land Authority-Statement of Net Position 1-1
Comprehensive Plan Land Authority-Statement of Activities 1-2
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
Independent Auditor's Management Letter J-3
Report of Independent Accountant on Compliance with Local Government Investment J-6
Policies
A-3
�1% Cherry Bekaert
so CPAs&Advisors
Report of Independent Auditor
To the Clerk Ex Officio, Mayor and
Board of County Commissioners of
Monroe County, Florida:
Report on the Financial Statements
We have audited the accompanying financial statements of each major fund 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, 2018, and the related notes to the financial statements, which collectively comprise the
Board's basic financial statements as listed in the table of contents.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance
with accounting principles generally accepted in the United States of America; this includes the design,
implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial
statements that are free from material misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted our
audit in accordance with auditing standards generally accepted in the United States of America and the
standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller
General of the United States. Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial statements. The procedures selected depend on the auditor's judgment, including the assessment of
the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the 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 and the aggregate remaining fund information of the Board as of
September 30, 2018, 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 and Governmental
Grants Fund for the year then ended in accordance with accounting principles generally accepted in the United
States of America.
B-1
Emphasis of Matter
Change in Accounting Principle
As discussed in Note 22 to the basic financial statements, the County adopted Governmental Accounting
Standards Board ("GASB") Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits
Other Than Pensions. As a result, net position as of October 1, 2017 has been restated. Our opinion is not
modified with respect to this matter.
Other Information
As described in Note 1, the financial statements referred to 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.
Other Matters
Required Supplementary Information
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.
Supplementary and Other Information
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 well as the information presented for the
Board's component unit, as listed in the table of contents, are presented for purposes of additional analysis and
are not a required part of the financial statements.
The accompanying information is the responsibility of management and was 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.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated March 18, 2019 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
solely to describe the scope of our testing of internal control over financial reporting and compliance and the
results of that testing, and not to provide an opinion on the effectiveness of the Board's internal control over
financial reporting or on compliance. That report is an integral part of an audit performed in accordance with
Government Auditing Standards in considering the Board's internal control over financial reporting and
compliance.
Orlando, Florida
March 18, 2019
B-2
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
BALANCE SHEET
GOVERNMENTAL FUNDS
SEPTEMBER 30,2018
Fine& Governmental
General Forfeiture Grants
Assets
Cash and Cash Equivalents $ 3,603,827 $ 10,121,895 $ 5,149,578
Investments 27,310,044 3,350,757 297,051
Accounts Receivable, Net 10,067 1,050,435 11
Assessments Receivable - - -
Due from Other Governmental Units 707,722 187,170 7,809,936
Due from Constitutional Officers 7,614,946 6,733,576 -
Mortgages/Notes Receivable - - 540,150
Allowance for Mortgages/Notes Receivable - - (540,150)
Advances to Other Governments - - -
Interest Receivable 67,938 8,174 3,507
Inventory 3,442 - -
Total Assets $ 39,317,986 $ 21,452,007 $ 13,260,083
Liabilities, Deferred Inflows of
Resources and Fund Balances
Liabilities:
Accounts Payable $ 1,086,691 $ 89,802 $ 4,314,379
Retainage Payable - - 93,889
Accrued Wages and Benefits Payable 359,673 97,831 37,892
Due to Other Funds 2,500,000 - -
Due to Other Governmental Units 760,357 60 1,171,369
Due to Constitutional Officers 1,160 9,304 -
Unearned Revenues 299,877 - 145,771
Other Current Liabilities 1,585 - -
Deposits in Escrow 5,410 - -
Total Liabilities 5,014,753 196,997 5,763,300
Deferred Inflows of Resources:
Unavailable Revenues - - 3,845,052
Total Deferred Inflows of Resources - - 3,845,052
Fund Balances:
Nonspendable 3,442 - -
Restricted - 21,255,010 3,651,731
Committed 10,000,000 - -
Assigned 10,841,907 - -
Unassigned 13,457,884 - -
Total Fund Balances 34,303,233 21,255,010 3,651,731
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 39,317,986 $ 21,452,007 $ 13,260,083
The notes to the financial statements are an integral part of these statements.
C-1
One Cent Infrastructure Cudjoe Regional Debt Nonmajor Total
Infrastructure Revenue Bonds Wastewater Service Governmental Governmental
Surtax Series 2014 Project Fund Funds Funds
$ 3,217,741 $ 27,440,856 $ 1,997,171 $ 1,012,310 $ 13,366,745 $ 65,910,123
17,023,409 - 8,957,577 1,273,232 77,824,318 136,036,388
- - - - 28,553 1,089,066
- - 26,882,565 - 4,715,139 31,597,704
1,744,185 - - - 1,135,085 11,584,098
- - 3,163 - 4,674,411 19,026,096
- - - - 8,170,603 8,710,753
- - - - (8,170,603) (8,710,753)
- - 6,549,293 - - 6,549,293
42,602 - 21,009 4,036 189,563 336,829
- - - - - 3,442
$ 22,027,937 $ 27,440,856 $ 44,410,778 $ 2,289,578 $ 101,933,814 $ 272,133,039
$ 495,478 $ 156,169 $ 716,989 $ - $ 1,994,394 $ 8,853,902
464,883 422,198 - - 228,013 1,208,983
35,474 - 2,966 - 766,858 1,300,694
- - - - - 2,500,000
17 - - - 640,749 2,572,552
- - - - 68,305 78,769
- - - - - 445,648
- - - - 1,329 2,914
- - - - 199,975 205,385
995,852 578,367 719,955 - 3,899,623 17,168,847
- - 26,489,495 - 4,634,766 34,969,313
- - 26,489,495 - 4,634,766 34,969,313
- - - - - 3,442
21,032,085 26,862,489 17,201,328 2,289,578 85,748,970 178,041,191
- - - - 3,325,054 13,325,054
- - - - 4,325,401 15,167,308
- - - - - 13,457,884
21,032,085 26,862,489 17,201,328 2,289,578 93,399,425 219,994,879
$ 22,027,937 $ 27,440,856 $ 44,410,778 $ 2,289,578 $ 101,933,814 $ 272,133,039
C-2
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30,2018
Fine& Governmental
General Forfeiture Grants
Revenues:
Taxes $ 21,477,531 $ 47,276,848 $ -
Licenses and Permits - - -
Intergovernmental 14,281,558 75,127 11,333,363
Charges for Services 625,559 10,233,568 139,256
Fines and Forfeitures 2,685 65,960 -
Investment Income 242,643 476,350 27,781
Miscellaneous 700,694 1,096 103,456
Total Revenues 37,330,670 58,128,949 11,603,856
Expenditures:
Current:
General Government 30,379,858 665,494 -
Public Safety 1,496,038 58,812,852 11,535,241
Physical Environment 521,242 - 6,668,718
Transportation 20,282 - 1,957,311
Economic Environment 711,196 - 39,284
Human Services 7,720,742 - 1,314,913
Culture and Recreation 3,530,255 - 100,264
Court-Related 3,871,465 2,107,861 -
Capital Projects - - -
Debt Service:
Principal - - -
Interest - - -
Other Debt Service Costs - - -
Total Expenditures 48,251,078 61,586,207 21,615,731
Excess/Deficiency of Revenues
Over(Under) Expenditures (10,920,408) (3,457,258) (10,011,875)
Other Financing Sources(Uses):
Transfers from Other Funds 4,332,711 3,690,277 1,182,214
Transfers to Other Funds (263,835) (19,234) -
Issuance of Debt - - 15,939,259
Transfers from Constitutional Officers 6,309,268 1,979,464 -
Total Other Financing Sources (Uses) 10,378,144 5,650,507 17,121,473
Net Change in Fund Balances (542,264) 2,193,249 7,109,598
Fund Balances-October 1 34,845,497 19,061,761 (3,457,867)
Fund Balances-September30 $ 34,303,233 $ 21,255,010 $ 3,651,731
The notes to the financial statements are an integral part of these statements.
C-3
One Cent Infrastructure Cudjoe Regional Debt Nonmajor Total
Infrastructure Revenue Bonds Wastewater Service Governmental Governmental
Surtax Series 2014 Project Fund Funds Funds
$ 20,805,323 $ - $ - $ - $ 53,098,710 $ 142,658,412
- - 1,742,474 - 6,254,330 7,996,804
- - - - 6,625,831 32,315,879
- - - - 9,296,467 20,294,850
- - - - 3,327,907 3,396,552
176,526 285,250 876,567 72,250 1,035,995 3,193,362
526,305 - 128,253 - 305,526 1,765,330
21,508,154 285,250 2,747,294 72,250 79,944,766 211,621,189
- - - - 3,485,599 34,530,951
- - - - 30,050,830 101,894,961
- - - - 2,040,369 9,230,329
- - - - 5,930,903 7,908,496
- - - - 35,188,431 35,938,911
- - - - 280,995 9,316,650
- - - - 1,831,211 5,461,730
- - - - 461,789 6,441,115
7,955,175 2,352,963 5,342,517 - 1,905,239 17,555,894
- - - 8,670,397 - 8,670,397
- - - 1,424,992 - 1,424,992
- - - 65,300 - 65,300
7,955,175 2,352,963 5,342,517 10,160,689 81,175,366 238,439,726
13,552,979 (2,067,713) (2,595,223) (10,088,439) (1,230,600) (26,818,537)
- 16,000,000 500,000 9,760,598 504,029 35,969,829
(13,213,422) - (16,000,000) - (4,303,111) (33,799,602)
- - 16,494,491 - - 32,433,750
- - 3,056 - 911,613 9,203,401
(13,213,422) 16,000,000 997,547 9,760,598 (2,887,469) 43,807,378
339,557 13,932,287 (1,597,676) (327,841) (4,118,069) 16,988,841
20,692,528 12,930,202 18,799,004 2,617,419 97,517,494 203,006,038
$ 21,032,085 $ 26,862,489 $ 17,201,328 $ 2,289,578 $ 93,399,425 $ 219,994,879
C-4
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
GENERALFUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 22,552,756 $ 22,552,756 $ 21,477,531 $ (1,075,225)
Intergovernmental 13,776,000 13,776,000 14,281,558 505,558
Charges for Services 631,000 631,000 625,559 (5,441)
Fines and Forfeitures 8,000 8,000 2,685 (5,315)
Investment Income 108,000 108,000 242,643 134,643
Miscellaneous 611,000 699,565 700,694 1,129
Total Revenues 37,686,756 37,775,321 37,330,670 (444,651)
EXPENDITURES:
Current:
General Government:
Board of County Commissioners Admin 1,874,014 1,874,014 1,693,961 180,053
Clerk to BOCC-Financial Package 5,000 5,000 - 5,000
Gov't Enterprise Management System 75,000 75,000 26,495 48,505
Clerk Comm & Fees-TDC 359,254 359,254 390,701 (31,447)
Clerk Comm & Fees-Noncourt 3,376,942 3,376,942 3,299,374 77,568
Insurances-Supervisor of Elections 178,318 178,318 169,100 9,218
Promotional Advertising 5,000 5,000 - 5,000
Value Adjustment Board 35,000 35,000 29,353 5,647
Tax Increment Payment 300,000 300,000 252,655 47,345
Employee Suggestion Plan 10,000 10,000 - 10,000
FIRM Study 50,000 50,000 50,000 -
Lobbyist 151,432 151,432 104,765 46,667
County Administrator 967,894 1,001,894 985,362 16,532
Technical Services 2,344,205 2,344,205 2,021,019 323,186
Technology Replacement 472,100 485,101 313,724 171,377
Grants Administration 216,264 341,264 268,843 72,421
Office of Management &Budget 684,153 659,153 634,453 24,700
Purchasing 91,447 91,447 81,325 10,122
Personnel 751,292 751,293 535,945 215,348
Public Works Management 13,137 13,137 12,910 227
Public Works Facilities Maintenance 8,010,075 8,010,074 6,739,349 1,270,725
ADA Compliance 50,000 50,000 48,874 1,126
County Attorney 1,460,972 1,460,972 1,306,124 154,848
Tax Collector 5,217,587 5,580,937 5,541,128 39,809
Property Appraiser 4,200,209 4,200,209 4,038,620 161,589
Supervisor of Elections 1,630,227 1,630,227 1,630,227 -
Quasi External Services 215,000 215,000 205,551 9,449
Hurricane 100,000 100,000 - 100,000
Total General Government 32,844,522 33,354,873 30,379,858 2,975,015
(Continued)
The notes to the financial statements are an integral part of these statements.
C-5
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL(CONTINUED)
GENERALFUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Public Safety:
Emergency Management 283,136 318,136 308,028 10,108
Marathon Emergency Operations Center 79,114 79,114 63,158 15,956
Medical Examiner 704,473 704,473 545,663 158,810
Fire Academy 610,005 646,005 542,388 103,617
Fire & EMS Length of Svcs Award Prog 48,000 48,000 36,801 11,199
Total Public Safety 1,724,728 1,795,728 1,496,038 299,690
Physical Environment:
Extension Service 278,744 278,744 212,844 65,900
Sustainability 786,509 669,969 308,398 361,571
Total Physical Environment 1,065,253 948,713 521,242 427,471
Transportation:
County Engineer 279,344 279,344 20,282 259,062
Total Transportation 279,344 279,344 20,282 259,062
Economic Environment:
Literacy Volunteers of America 40,000 40,000 40,000 -
Veterans Affairs 548,606 548,606 534,211 14,395
Veterans Affairs Transportation 154,372 154,372 136,985 17,387
Total Economic Environment 742,978 742,978 711,196 31,782
Human Services:
Middle Keys Guidance Clinic 38,685 38,685 38,685 -
Older Americans Volunteer Program 500 500 - 500
Domestic Abuse Shelter 60,000 60,000 60,000 -
Hospice of the Florida Keys 190,000 190,000 24,683 165,317
Florida Keys Outreach Coalition 90,000 90,000 90,000 -
Samuel's House 100,000 100,000 100,000 -
Womankind 140,000 140,000 140,000 -
Grace Jones 55,000 55,000 55,000 -
AIDS Help 60,000 60,000 60,000 -
Good Health Clinic 96,000 96,000 96,000 -
Monroe Co. Assoc. for ReMARCable Citizens 190,000 190,000 190,000 -
Florida Keys Children's Shelter 189,000 189,000 189,000 -
Wesley House 160,000 160,000 160,000 -
Florida Keys Area Health Education 68,000 65,000 65,000 -
(Continued)
The notes to the financial statements are an integral part of these statements.
C-6
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL(CONTINUED)
GENERALFUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Heron/Peacock 47,000 47,000 47,000 -
Kids Come First- Florida Keys 33,000 33,000 32,996 4
Boys and Girls Club 110,000 110,000 110,000 -
Florida Keys Healthy Start Coalition 40,000 42,750 42,750 -
Keys Area Interdenominational Resources 30,000 30,000 30,000 -
Star of the Sea Foundation 100,000 100,000 100,000 -
Independence Cay 30,000 30,000 30,000 -
Anchors Aweigh 20,000 20,000 20,000 -
Baker Act LKMC FS 394.463 83,334 187,501 178,287 9,214
Guidance Care Clinic Baker Act Transp 160,000 160,000 156,568 3,432
Guidance Care Clinic/Samuel House-FS 394.76 972,000 818,332 818,332 -
Guidance Care Clinic Jail In-house Prog 237,227 237,227 171,374 65,853
Historic Florida Keys Foundation 32,450 32,450 32,450 -
Animal Shelters 1,310,122 1,310,122 1,106,035 204,087
Welfare Administration 692,913 700,413 698,844 1,569
Welfare Services 1,002,500 1,002,500 874,594 127,906
Health Care Respite Act 46,707 46,707 4,064 42,643
Bayshore Manor 937,082 937,081 906,248 30,833
Social Service Transportation 1,030,969 1,030,969 991,216 39,753
Burton Memorial United Methodist Church 12,000 12,000 12,000 -
Keys to Be Change 55,000 55,000 55,000 -
Autism Society of the Keys 30,000 30,000 30,000 -
Voices for the Florida Keys Children 15,000 15,000 4,616 10,384
Total Human Services 8,464,489 8,422,237 7,720,742 701,495
Culture and Recreation:
Fine Arts Council 72,765 72,765 72,765 -
Lower Keys AARP 4,500 4,500 4,500 -
Middle Keys AARP 4,500 4,500 3,470 1,030
Big Pine Key AARP 4,500 4,500 1,621 2,879
Upper Keys AARP 4,500 4,500 1,019 3,481
Heart of the Keys Recreation 40,000 40,000 40,000 -
Higgs Beach Maintenance 99,551 99,551 88,665 10,886
Library Admin Support 982,109 982,109 850,547 131,562
Library Key West 926,417 926,417 804,134 122,283
Library Key West Donations - 166,097 71,357 94,740
Library Marathon 479,575 479,575 419,287 60,288
Library Marathon Donations - 9,779 1,753 8,026
Library Islamorada 365,254 365,254 293,447 71,807
(Continued)
The notes to the financial statements are an integral part of these statements.
C-7
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL(CONTINUED)
GENERALFUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Library Islamorada Donations - 6,490 2,948 3,542
Library Key Largo 524,113 524,113 482,087 42,026
Library Key Largo Donations - 8,438 3,324 5,114
Library Big Pine Key 440,762 440,762 388,356 52,406
Library Big Pine Key Donations - 11,837 975 10,862
Total Culture and Recreation 3,948,546 4,151,187 3,530,255 620,932
Court-Related:
Law Library 77,358 77,358 74,751 2,607
Guardian Ad Litem 209,514 209,514 119,298 90,216
Clerk of the Court-General Mgt 50,426 50,426 51,588 (1,162)
Clerk of the Court-Jury Management 29,160 29,160 30,362 (1,202)
Clerk Records Management 22,622 22,622 22,822 (200)
Clerk of the Circuit Court-Criminal 255,368 255,368 265,901 (10,533)
Clerk of the Circuit Court-Civil 161,234 161,234 168,186 (6,952)
Clerk of the Circuit Court-Family 47,082 47,082 49,017 (1,935)
Clerk of the Circuit Court-Juvenile 39,624 39,624 40,423 (799)
Clerk of the Circuit Court-Probate 35,941 35,941 37,270 (1,329)
Clerk County Court-Criminal 203,186 203,186 210,766 (7,580)
Clerk County Court-Civil 69,006 69,006 71,907 (2,901)
Clerk County Court-Traffic 234,365 234,365 245,893 (11,528)
State Attorney 344,603 344,603 218,289 126,314
Public Defender 737,938 737,938 650,126 87,812
Court Administration 2,527 2,527 2,266 261
Court Admin-Judicial Support 165,335 174,503 160,797 13,706
Court Case Management 177,907 177,907 160,967 16,940
Court Admin-Circuit Ct Reporter Svcs 1,675 1,675 677 998
Court Admin-Circuit Drug Court 401,022 401,022 384,426 16,596
Court Admin-Pretrial Release 553,478 553,478 493,999 59,479
Ct. Admin-Pretrial Svcs Drug Diversion 194,279 194,278 181,764 12,514
Court Admin-Information Systems 235,893 235,893 229,970 5,923
Total Court Related 4,249,543 4,258,710 3,871,465 387,245
Total Expenditures 53,319,403 53,953,770 48,251,078 5,702,692
Excess/Deficiency of Revenues
Over(Under) Expenditures (15,632,647) (16,178,449) (10,920,408) 5,258,041
(Continued)
The notes to the financial statements are an integral part of these statements.
C-8
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL(CONTINUED)
GENERALFUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Other Financing Sources (Uses):
Reserve for Contingencies (849,828) (122,486) - 122,486
Reserve for Cash Balance (7,033,432) (7,033,432) - 7,033,432
Transfers from Other Funds 5,458,771 5,458,771 4,332,711 (1,126,060)
Transfers to Other Funds (355,500) (537,040) (263,835) 273,205
Transfers from Constitutional Officers 4,500,000 4,500,000 6,309,268 1,809,268
Total Other Financing Sources (Uses) 1,720,011 2,265,813 10,378,144 8,112,331
Net Change in Fund Balances (13,912,636) (13,912,636) (542,264) 13,370,372
Fund Balances-October 1 13,912,636 13,912,636 34,845,497 20,932,861
Fund Balances, September 30 $ - $ - $ 34,303,233 $ 34,303,233
The notes to the financial statements are an integral part of these statements.
C-9
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MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FINE AND FORFEITURE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 48,677,184 $ 48,677,184 $ 47,276,848 $ (1,400,336)
Intergovernmental - - 75,127 75,127
Charges for Services 9,085,450 9,085,450 10,233,568 1,148,118
Fines and Forfeitures 81,500 81,500 65,960 (15,540)
Investment Income 105,000 105,000 476,350 371,350
Miscellaneous 1,500 944,999 1,096 (943,903)
Total Revenues 57,950,634 58,894,133 58,128,949 (765,184)
EXPENDITURES:
Current:
General Government:
Tax Increment Payment 700,000 700,000 665,494 34,506
Total General Government 700,000 700,000 665,494 34,506
Public Safety:
Sheriff Law Enforcement 23,166,432 27,609,931 26,313,488 1,296,443
Sheriff Corrections 23,404,592 23,404,592 23,011,370 393,222
Bond Refunds 25,000 25,000 - 25,000
Law Enforcement Education Assistance 75,000 75,000 75,000 -
Correction Facilities 2,249,440 2,249,440 1,791,259 458,181
Medical Air Transport 6,657,993 6,727,993 6,657,178 70,815
Interagency Communications 674,427 674,427 669,901 4,526
Juvenile Detention Cost Share 276,000 276,000 139,649 136,351
Hurricane - 155,007 155,007 -
Total Public Safety 56,528,884 61,197,390 58,812,852 2,384,538
Court-Related:
Sheriff Extradition 50,000 70,000 61,688 8,312
Sheriff Court Security 2,076,681 2,076,681 2,046,173 30,508
Total Court Related 2,126,681 2,146,681 2,107,861 38,820
Total Expenditures 59,355,565 64,044,071 61,586,207 2,457,864
Excess/Deficiency of Revenues
Over(Under) Expenditures (1,404,931) (5,149,938) (3,457,258) 1,692,680
(Continued)
The notes to the financial statements are an integral part of these statements.
C-10
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL(CONTINUED)
FINE AND FORFEITURE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Other Financing Sources (Uses):
Reserve for Contingencies (674,021) (584,021) - 584,021
Reserve for Cash Balance (5,734,570) (5,734,570) - 5,734,570
Transfers from Other Funds - 3,655,007 3,690,277 35,270
Transfers to Other Funds (16,667) (16,667) (19,234) (2,567)
Transfers from Constitutional Officers 1,500,000 1,500,000 1,979,464 479,464
Total Other Financing Sources (Uses) (4,925,258) (1,180,251) 5,650,507 6,830,758
Net Change in Fund Balances (6,330,189) (6,330,189) 2,193,249 8,523,438
Fund Balances, October 1 6,330,189 6,330,189 19,061,761 12,731,572
Fund Balances, September 30 $ - $ - $ 21,255,010 $ 21,255,010
The notes to the financial statements are an integral part of these statements.
C-11
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
GOVERNMENTAL GRANTS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Intergovernmental $ 866,728 $ 84,796,938 $ 11,333,363 $ (73,463,575)
Charges for Services - 319,385 139,256 (180,129)
Investment Income - - 27,781 27,781
Miscellaneous - - 103,456 103,456
Total Revenues 866,728 85,116,323 11,603,856 (73,512,467)
Expenditures:
Current:
Public Safety:
Hurricane Irma Recovery - 25,643,552 11,155,613 14,487,939
Emergency Management Base Grant - 262,382 131,384 130,998
Federal Emergency Base Grants - 47,576 47,576 -
Radiological Emerg. Preparedness - 319,385 138,899 180,486
Emergency Medical Services Award Grant - 48,679 13,966 34,713
Urban Area Security Initiative Grants - 153,995 47,803 106,192
Total Public Safety - 26,475,569 11,535,241 14,940,328
Physical Environment:
Canal Restoration Project - 1,460,558 1,306,192 154,366
Hurricane Irma Canal Debris Removal - 49,257,803 4,365,095 44,892,708
Exotic Plant Removal 180,000 360,000 175,685 184,315
Park Vulnerability Anlaysis 30,000 30,000 - 30,000
Florida Keys Res Assur Plan 360,618 360,718 - 360,718
EPA Florida Keys Improve Water Quality - 232,240 47,806 184,434
FWC MC Removal Vessels 517,650 976,260 218,940 757,320
DEP Mobile Vessels - 555,000 555,000 -
Total Physical Environment 1,088,268 53,232,579 6,668,718 46,563,861
Transportation:
Card Sound Bridge Repair - 1,559,481 (315) 1,559,796
Garrison Bight Bridge - 1,360,607 975,813 384,794
Scenic Highway Overlooks - 1,094,492 436,413 658,079
Roadway Projects - 2,008,126 66,001 1,942,125
Transportation Planning Prog 2012 - 622,729 234,068 388,661
Pigeon Key Ferry Service - 418,151 219,212 198,939
Pigeon Key Ferry Ramp Repair - 2,105,488 26,119 2,079,369
Total Transportation - 9,169,074 1,957,311 7,211,763
(Continued)
The notes to the financial statements are an integral part of these statements.
C-12
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL(CONTINUED)
GOVERNMENTAL GRANTS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Economic Environment:
Small Cities CDBG - 120,032 - 120,032
Disaster Recovery CDBG - 175,822 - 175,822
Disaster Recovery Coordinator - 250,000 39,284 210,716
Total Economic Environment - 545,854 39,284 506,570
Human Services:
Nutritional Services In Progress - 104,106 58,917 45,189
GCC Male Jail In-house Program - 17,823 1,935 15,888
Title III-B Supportive Services - 158,377 87,842 70,535
Title III-C1 Congregate Meals - 223,156 163,207 59,949
Title III-C2 Home Delivered Meals - 432,914 216,706 216,208
Title III-E Caregiver Support Services - 236,878 78,787 158,091
Low Income Home Energy Program - 365,001 193,902 171,099
Alzheimer's Disease Initiative - 670,703 275,981 394,722
Community Care Disabled Adults - 166,227 34,653 131,574
State Housing Initiative Partnership to WAP - 30,391 34,083 (3,692)
Heron Assisted Living - 16,539 - 16,539
Drug Court Medical Director Initiative - 18,569 3,928 14,641
Social Services Transportation - 167,004 164,972 2,032
Total Human Services - 2,607,688 1,314,913 1,292,775
Culture and Recreation:
State Aid to Libraries - 100,981 33,060 67,921
Rowell's Marina Scenic Overlook - 105,563 61,804 43,759
Harry Harris Park Boat Ramp - 50,000 5,400 44,600
GV Boat Ramp Repair - 100,000 - 100,000
Lower Keys Scenic VW Area - 900,000 - 900,000
Total Culture and Recreation - 1,256,544 100,264 1,156,280
Total Expenditures 1,088,268 93,287,308 21,615,731 71,671,577
(Continued)
The notes to the financial statements are an integral part of these statements.
C-13
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL(CONTINUED)
GOVERNMENTAL GRANTS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Excess/Deficiency of Revenues
Over(Under) Expenditures (221,540) (8,170,985) (10,011,875) (1,840,890)
Other Financing Sources (Uses):
Transfers from Other Funds 221,540 8,170,985 1,182,214 (6,988,771)
Issuance of Debt - - 15,939,259 15,939,259
Total Other Financing Sources (Uses) 221,540 8,170,985 17,121,473 8,950,488
Net Change in Fund Balances - - 7,109,598 7,109,598
Fund Balances, October 1 - - (3,457,867) (3,457,867)
Fund Balances, September 30 $ - $ - $ 3,651,731 $ 3,651,731
The notes to the financial statements are an integral part of these statements.
C-14
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MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
SEPTEMBER 30, 2018
Business-type Activities Enterprise Funds
Major Funds
Municipal Card Key
Service District Sound West
Waste Bridge Airport
ASSETS
Current Assets:
Cash and Cash Equivalents $ 9,379,712 $ 83,406 $ 480,662
Investments 6,334,865 2,108,171 1,483,664
Accounts Receivable, Net 196,899 - 698,152
Due from Other Funds 2,500,000 - -
Due from Other Governmental Units 4,694,955 - 2,221,582
Due from Constitutional Officers 4,075 - 144,211
Interest Receivable 25,168 11,681 1,794
Total Current Assets 23,135,674 2,203,258 5,030,065
Noncurrent Assets:
Restricted Cash and Cash Equivalents - - 6,645,043
Restricted Accounts Receivable - - 271,562
Land and Other Nondepreciable Assets 4,400,127 54,071 15,116,119
Capital Assets, Net of Accum. Depreciation 717,587 9,896,748 65,436,675
Total Noncurrent Assets 5,117,714 9,950,819 87,469,399
Total Assets 28,253,388 12,154,077 92,499,464
DEFERRED OUTFLOWS OF RESOURCES
Related to Pensions 350,009 97,364 1,524,507
LIABILITIES
Current Liabilities:
Accounts Payable 2,966,740 888,599 576,771
Retainage Payable 83,349 178,653 676,740
Accrued Wages and Benefits Payable 40,220 8,774 101,339
Claims and Judgments Payable - - -
Due to Other Governmental Units 38,274 - 20,032
Due to Constitutional Officers 8,420 - -
Accrued Comp. Absences Payable 21,152 10,433 54,014
Unearned Revenues - - 648,926
Deposits in Escrow 52,415 - 8,000
Total Current Liabilities 3,210,570 1,086,459 2,085,822
The notes to the financial statements are an integral part of these statements.
C-15
Governmental
Major Funds Activities
Internal
Marathon Service
Airport Total Funds
$ 183,693 $ 10,127,473 $ 5,378,225
1,079,032 11,005,732 24,133,766
34,450 929,501 51,012
- 2,500,000 -
68,382 6,984,919 193,441
- 148,286 116,869
3,128 41,771 58,590
1,368,685 31,737,682 29,931,903
162,079 6,807,122 -
- 271,562 -
885,148 20,455,465 54,000
13,174,907 89,225,917 780,012
14,222,134 116,760,066 834,012
15,590,819 148,497,748 30,765,915
119,976 2,091,856 821,276
67,451 4,499,561 2,560,867
- 938,742 -
13,203 163,536 103,784
- - 6,205,921
3,731 62,037 2,254
- 8,420 -
6,679 92,278 40,070
20,475 669,401 -
6,306 66,721 -
117,845 6,500,696 8,912,896
(Continued)
C-16
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF NET POSITION (CONTINUED)
PROPRIETARY FUNDS
SEPTEMBER 30, 2018
Business-type Activities Enterprise Funds
Major Funds
Municipal Card Key
Service District Sound West
Waste Bridge Airport
Noncurrent Liabilities:
Accrued Comp. Absences Payable 84,607 41,732 216,057
Claims &Judgments Payable 129,632 - -
Revenue Bonds Payable 24,060,741 - -
OPEB Liability 323,000 129,000 469,000
Net Pension Liability 996,293 580,674 3,450,218
Total Noncurrent Liabilities 25,594,273 751,406 4,135,275
Total Liabilities 28,804,843 1,837,865 6,221,097
DEFERRED INFLOWS OF RESOURCES
Related to Pensions 75,065 19,927 293,709
Related to OPEB 54,815 21,892 79,592
Total Deferred Inflows of Resources 129,880 41,819 373,301
NET POSITION
Investment in Capital Assets 5,117,714 9,950,819 80,552,794
Restricted for:
Passenger Facility Charges - - 6,916,605
Customs Service Operations - - -
Unrestricted (5,449,040) 420,938 (39,826)
Total Net Position $ (331,326) $ 10,371,757 $ 87,429,573
The notes to the financial statements are an integral part of these statements.
C-17
Governmental
Major Funds Activities
Internal
Marathon Service
Airport Total Funds
26,715 369,111 160,281
- 129,632 -
- 24,060,741 -
195,000 1,116,000 543,000
351,197 5,378,382 1,587,648
572,912 31,053,866 2,290,929
690,757 37,554,562 11,203,825
25,848 414,549 170,389
33,092 189,391 92,150
58,940 603,940 262,539
14,060,055 109,681,382 834,012
- 6,916,605 -
162,079 162,079 -
738,964 (4,328,964) 19,286,815
$ 14,961,098 $ 112,431,102 $ 20,120,827
C-18
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENSES,AND CHANGES IN NET POSITION
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30,2018
Business-type Activities Enterprise Funds
Major Funds
Municipal Card Key
Service District Sound West
Waste Bridge Airport
Operating Revenues:
Franchise Fees $ 548,730 $ - $ -
Charges for Services 20,145,061 - 7,550,117
Fines and Forfeitures - - 11
Miscellaneous 91,552 - 931
Total Operating Revenues 20,785,343 - 7,551,059
Operating Expenses:
Personnel Services 1,347,030 396,779 3,155,980
Operations 41,659,435 36,241 8,037,609
Depreciation and Amortization 115,948 326,126 2,494,910
Asserted and Paid Claims - - -
Total Operating Expenses 43,122,413 759,146 13,688,499
Operating Income (Loss) (22,337,070) (759,146) (6,137,440)
Nonoperating Revenues (Expenses):
Operating Grants 4,653,307 - 983,647
Grants and Donations-Other Sources - - 9,388
Capital Grants - - 22,220,946
Investment Income 124,654 22,424 197,634
Insurance Recoveries - - -
(Loss)on Disposition of Assets - - (402)
Total Non-Operating Revenues (Expenses) 4,777,961 22,424 23,411,213
Income (Loss) Before Transfers (17,559,109) (736,722) 17,273,773
Other Financing Sources(Uses):
Transfers from Other Funds - - -
Transfers to Other Funds (263,190) (755,807) (349,461)
Transfers from Constitutional Officers 4,075 - -
Total Other Financing Sources (Uses) (259,115) (755,807) (349,461)
Change in Net Position (17,818,224) (1,492,529) 16,924,312
Net Position-October 1 17,474,176 11,768,078 70,724,663
Restatement-Change in Accounting Principle 12,722 96,208 (219,402)
Net Position-October 1, restated 17,486,898 11,864,286 70,505,261
Net Position-September30 $ (331,326) $ 10,371,757 $ 87,429,573
The notes to the financial statements are an integral part of these statements.
C-19
Governmental
Major Funds Activities
Internal
Marathon Service
Airport Total Funds
$ - $ 548,730 $ -
974,882 28,670,060 28,514,395
- 11 -
148,237 240,720 247,063
1,123,119 29,459,521 28,761,458
438,749 5,338,538 2,377,098
1,400,196 51,133,481 6,155,023
655,731 3,592,715 61,659
- - 20,399,053
2,494,676 60,064,734 28,992,833
(1,371,557) (30,605,213) (231,375)
681,835 6,318,789 -
10,000 19,388 -
236,997 22,457,943 -
14,542 359,254 265,190
- - 3,902,446
- (402) -
943,374 29,154,972 4,167,636
(428,183) (1,450,241) 3,936,261
340,758 340,758 -
(50,153) (1,418,611) (1,092,374)
- 4,075 -
290,605 (1,073,778) (1,092,374)
(137,578) (2,524,019) 2,843,887
15,052,091 115,019,008 17,240,211
46,585 (63,887) 36,729
15,098,676 114,955,121 17,276,940
$ 14,961,098 $ 112,431,102 $ 20,120,827
C-20
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30,2018
Business-Type Activities Enterprise Funds
Major Funds
Municipal Card Key
Service District Sound West
Waste Bridge Airport
Operating Activities:
Cash Received for Services $ 20,573,136 $ - $ 8,104,016
Cash Received from Insurance Recoveries - - -
Cash Payments to Suppliers for Goods and Services (42,062,797) 886,170 (7,627,636)
Cash Payments for Employee Services (1,480,995) (400,126) (3,226,739)
Cash Payments for Claims - - -
Cash Received from (Paid to)Other Sources (4,608,549) (117) (789,506)
Other Operating Revenue 99,988 4,199 1,351
Net Cash Provided by(Used in)
Operating Activities (27,479,217) 490,126 (3,538,514)
Noncapital Financing Activities:
Operating Grants Received 4,653,307 - 983,647
Issuance of Debt 24,060,741 - -
Transfers from Other Funds - - -
Transfers to Other Funds (263,190) (755,807) (349,461)
Transfers from Constitutional Officers 4,075 - -
Net Cash Provided by(Used in) Noncapital
Financing Activities 28,454,933 (755,807) 634,186
Capital and Related Financing Activities:
Proceeds from Capital Grants - - 22,220,946
Acquisition of Capital Assets (670,674) (2,517,672) (20,842,959)
Net Cash Provided by(Used in)Capital and
Related Financing Activities (670,674) (2,517,672) 1,377,987
Investing Activities:
Investment Income 124,654 22,424 197,634
Proceeds from Sales and Maturities of Investments 4,381,172 1,988,743 (1,024,546)
Purchase of Investment Securities 367,449 139,445 20,976
Net Cash Provided by(Used in) Investing Activities 4,873,275 2,150,612 (805,936)
Net Increase (Decrease) in Cash and
Cash Equivalents 5,178,317 (632,741) (2,332,277)
Cash and Cash Equivalents:
October 1 4,201,395 716,147 9,457,982
September 30 $ 9,379,712 $ 83,406 $ 7,125,705
The notes to the financial statements are an integral part of these statements.
C-21
Governmental
Major Funds Activities
Internal
Marathon Service
Airport Total Funds
$ 1,026,704 $ 29,703,856 $ 28,777,188
- - 3,902,446
(1,842,840) (50,647,103) (5,738,341)
(533,216) (5,641,076) (2,618,036)
- - (17,964,080)
462,651 (4,935,521) 453,918
148,719 254,257 252,273
(737,982) (31,265,587) 7,065,368
691,835 6,328,789 -
- 24,060,741 -
340,758 340,758 -
(50,153) (1,418,611) (1,092,374)
- 4,075 -
982,440 29,315,752 (1,092,374)
236,997 22,457,943 -
(324,419) (24,355,724) (48,655)
(87,422) (1,897,781) (48,655)
14,542 359,254 265,190
(241,726) 5,103,643 (5,966,049)
43,065 570,935 961,865
(184,119) 6,033,832 (4,738,994)
(27,083) 2,186,216 1,185,345
372,855 14,748,379 4,192,880
$ 345,772 $ 16,934,595 $ 5,378,225
(Continued)
C-22
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF CASH FLOWS (CONTINUED)
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30,2018
Business-Type Activities Enterprise Funds
Major Funds
Municipal Card Key
Service District Sound West
Waste Bridge Airport
Reconciliation of Operating Income(Loss)
to Net Cash Provided by (Used in)Operating
Activities:
Operating Income (Loss) $ (22,337,070) $ (759,146) $ (6,137,440)
Adjustments to Reconcile Operating Income (Loss)
to Net Cash Provided by(Used in)Operating
Activities:
Depreciation and Amortization 115,948 326,126 2,494,910
Nonoperating Income-Insurance Recoveries - - -
Change in Assets, Liabilities, and Deferrals:
(Increase) Decrease in Accounts Receivable (120,655) - (88,364)
(Increase) Decrease in Due from Other Funds - - 435,451
(Increase) Decrease in Due from Other Gov't Units (4,656,531) - (900,881)
(Increase) Decrease in Due from Constitutional Ofcrs 1,288 - 105,559
(Increase) Decrease in Interest Receivable 8,436 4,199 409
Increase (Decrease) in Accounts Payable (278,255) 784,802 70,877
Increase (Decrease) in Retainage Payable 53,955 137,609 339,096
Increase (Decrease) in Accrued Wages/Benefits (48,055) (12,953) (69,332)
Increase (Decrease) in Claims/Judgments Payable - - -
Increase (Decrease) in Due to Other Funds - - (435,451)
Increase (Decrease) in Due to Other Gov't Units 38,274 (117) 5,816
Increase (Decrease) in Due to Constitutional Ofcrs 8,420 - -
Increase (Decrease) in Comp.Absences Payable 18,486 (1,650) 31,044
Increase (Decrease) in Deposits in Escrow (1,250) - -
Increase (Decrease) in Landfill Closure Costs (177,812) - -
Increase (Decrease) in Unearned Revenue - - 642,263
Increase (Decrease) in OPEB Liability (247,924) (110,929) (359,988)
Increase (Decrease) in Pension Liability 115,736 31,673 485,889
Increase (Decrease) in Deferred Outflows (57,008) 74,623 (387,637)
Increase (Decrease) in Deferred Inflows 84,800 15,889 229,265
Total Adjustments (5,142,147) 1,249,272 2,598,926
Net Cash Provided by(Used in)
Operating Activities $ (27,479,217) $ 490,126 $ (3,538,514)
Noncash Investing, Capital,and Financing Activities:
Increase (Decrease) in Revenue Notes Payable $ 24,060,741 $ - $ -
(Loss)on Disposition of Assets - - (402)
Change in Fair value of Investments $ 24,060,741 $ - $ (402)
Cash Reconciliation:
Unrestricted $ 9,379,712 $ 83,406 $ 480,662
Restricted - - 6,645,043
Total $ 9,379,712 $ 83,406 $ 7,125,705
The notes to the financial statements are an integral part of these statements.
C-23
Governmental
Major Funds Activities
Internal
Marathon Service
Airport Total Funds
$ (1,371,557) $ (30,605,213) $ (231,375)
655,731 3,592,715 61,659
- - 3,902,446
33,162 (175,857) 262,793
- 435,451 -
463,160 (5,094,252) 14,067
- 106,847 440,003
482 13,526 5,210
(294,779) 282,645 416,682
(147,865) 382,795
(29,172) (159,512) 9,260
- - 2,434,973
- (435,451) -
(509) 43,464 2,226
- 8,420 (2,378)
8,546 56,426 11,046
- (1,250) -
- (177,812) -
18,660 660,923 -
(149,674) (868,515) (416,792)
39,738 673,036 268,420
(5,914) (375,936) (295,062)
42,009 371,963 182,190
633,575 (660,374) 7,296,743
$ (737,982) $ (31,265,587) $ 7,065,368
$ - $ 24,060,741 $ -
- (402) -
$ - $ 24,060,339 $ -
$ 183,693 $ 10,127,473 $ 5,378,225
162,079 6,807,122 -
$ 345,772 $ 16,934,595 $ 5,378,225
C-24
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
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 (the "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 (the "County") is a Non-Charter County established as provided by Article VIII
Section 1 of the Florida Constitution and Chapter 125, Florida Statutes. The primary government of the
County is comprised of the Board of County Commissioners and five "constitutional officers": Clerk of
the Circuit Court & Comptroller (the Clerk), 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, presented in the Monroe
County, Florida Comprehensive Annual Financial Report.
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, composed of five members, is the legislative body for Monroe County and as such budgets
and provides the funding used by the separate Constitutional Offices with the exception of fees collected
by the Clerk and the Tax Collector. Under the direction of the Clerk, the Monroe County Finance
Department maintains the accounting system for the Board's operations, excluding those of the Clerk,
Property Appraiser, Sheriff, Supervisor of Elections, and Tax Collector, each of which maintains its own
respective 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.
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.
D-1
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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 with similar transactions of the Board as part of the primary government.
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 Chapter 159, Florida Statutes. The MCIDA
serves to assist in financing and refinancing capital projects, which will foster economic
development in the County. The Board serves as the governing board and MCIDA 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, liabilities,
or transactions during the current year.
Discretely-presented component units are legally separate entities which do not meet the criteria for
blending. They are reported in separately issued financial statements to emphasize their legal separation
from the Board. The following is a discretely-presented component unit of the Board:
Monroe County, Florida Comprehensive Plan Land Authorily (MCLA) — The MCLA was
created by Monroe County, Florida Ordinance 031-1986 pursuant to Chapter 380, Florida
Statutes and is considered a legally separate entity from Monroe County. The objectives of the
entity are to operate a land acquisition program in Monroe County, implement the Monroe
County Comprehensive Plan and address issues created by it. The Board serves as the governing
board; however, 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 in a separate section of 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 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, 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.
D-2
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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 not required either legally or by accounting principles generally
accepted in the United States of America to be accounted for in other funds, are accounted for in
the General Fund.
Fine and Forfeiture Special Revenue Fund— The Fine and Forfeiture Fund is used to account for
revenues received from fines and forfeitures imposed from the commission of statutory offenses,
ad valorem taxes transferred to the Sheriff and to account for operations of the County's court
system.
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.
Infrastructure Revenue Bonds Series 2014—The Infrastructure Revenue Bonds Series 2014 Fund
is used to account for capital projects funded by the Infrastructure Revenue Bonds Series 2014.
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.
Debt Service Fund — The 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 Florida Keys Marathon International Airport.
D-3
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
The Board also reports the following fund types:
Internal Service Funds — Internal service funds are used to account for the financing of
workers' compensation insurance, health insurance, general liability insurance, and fleet
maintenance services provided by one department to other departments of the Board or to other
governmental units on a cost reimbursement basis.
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 type, 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 type, 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 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.
D-4
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
The Board has chosen to fund the Volunteer Firefighter and Emergency Medical Services Length of
Service Award Pension Plan (LOSAP) on a pay-as-you-go basis. Pension expenditures are made from
the General Fund, which is maintained on a modified accrual basis of accounting. Benefits and refunds
are recognized when due and payable in accordance with the terms of the LOSAP Plan.
The LOSAP has no assets accumulated in a trust that meets the following criteria, outlined in GASB
Statement Nos. 67 and 68:
• Contributions to the pension plan and earnings on those contributions are irrevocable.
• Pension plan assets are dedicated to providing benefits to plan members.
• Pension plan assets are legally protected from the creditors or employers.
Proprietary funds distinguish operating revenues and expenses from non-operating 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
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 non-operating
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:
Listed below are the statutory procedures followed by the Board of County Commissioners in
establishing the budget for Monroe County:
1) On or before June 1 of each year, the Sheriff, the Clerk, the Property Appraiser, 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 Administrator submits to the Board a proposed budget for the fiscal year commencing
the following October 1. The budget includes proposed expenditures and the means of financing
said expenditures.
3) By Board resolution, a tentative budget is submitted to the public. Public hearings are held to
obtain taxpayer comments.
D-5
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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 Section 129.03,
Florida Statutes. All funds have legally adopted budgets.
6) Throughout the fiscal year, the County Administrator 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) Chapter 129, Section VII, Florida Statutes 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. The Board's intention is to substantially
honor these encumbrances under authority provided in the subsequent year's budget.
Cash and Cash Equivalents:
Cash balances from the majority of funds are pooled for investment purposes. Earnings from such
investments are allocated to the respective funds based on applicable cash participation by each fund.
The investment pools are managed such that all participating funds have the ability to deposit and
withdraw cash as if they were demand deposit accounts. Therefore, all balances representing
participants' equity in the investment pools are classified as cash equivalents for purposes of these
statements. For investments, held separately from the pools, and are highly liquid (including restricted
assets)with an original or remaining maturity of 90 days or less, are considered cash equivalents.
D-6
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
Investments:
Section 218.415, Florida Statutes, 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 Mac) 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.
All investments are stated at fair value or at amortized cost, which approximates fair value.
D-7
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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 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. Interfund balances and transfers are
consolidated for government-wide financial reporting, and residual balances between governmental
activities and business type activities, if any, are reported on the government-wide Statements of the
County.
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. Inventory is reported as
a non-spendable 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 acquisition cost 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.
D-8
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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
Buildings 10-50
Equipment 5-10
Intangible Assets 10-15
Infrastructure 10-50
Public Domain Infrastructure 20-50
Capacity Rights 99
Capacity rights represent an intangible asset that arose from a contract with a private wastewater
operator that includes 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, followed by unrestricted resources, as they are needed.
Restricted assets are classified as noncurrent if they are for acquisition or construction of capital assets,
for liquidation of long-term debt, or are for other than current operations.
D-9
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
Deferred Inflows of Resources:
Deferred Inflows of Resources represents an acquisition of net position that applies to a future period
and therefore will not be recognized as an inflow of resources until that time. The Board has four items
that qualify for reporting in this category: (1) Unavailable revenues; (3) Pension-related items; and (4)
Other Post-Employment Benefits. The advances from other governments are grants received in advance
of meeting the timing requirements for revenue recognition in governmental funds. The governmental
funds report unavailable revenues where receipts are not within the 60-day time frame for revenue
recognition. The enterprise and internal service funds report deferred inflows for pension-related and
other post-employment benefit items as actuarially determined.
Deferred Outflows of Resources:
Deferred Outflows of Resources represents an acquisition of net position that applies to a future period
and therefore will not be recognized as an outflow of resources (expense) until that future time. The
enterprise and internal service funds report deferred outflows related to pensions as actuarially
determined.
Lone-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 1 st of each year. No accrual for the property tax levy becoming due in November of 2018
is included in the accompanying financial statements, since such taxes are collected to finance
expenditures of the subsequent period.
Fund Balance Policies:
The focus of fund balance reporting is to clearly communicate the constraints imposed upon resources in
governmental funds. The fund balance classifications indicate the level of constraints placed upon how
resources can be spent and identify the sources of those constraints. The following five classifications:
non-spendable, 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.
D-10
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
Fund balances of governmental type funds are classified as follows:
Non-spendable — Include amounts that cannot be spent because they are either not in spendable
form, or for legal or contractual reasons, must be kept intact. This classification includes inventory.
Restricted—Include amounts that can be spent only for specific purposes because of constitutional
provisions or enabling legislation, or because of constraints externally imposed by creditors,
grantors, contributors or the laws or regulations of other governments.
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, the County's highest level of decision-
making authority. Commitments may be changed or lifted only by the Board taking the same
formal action that imposed the constraint originally.
Assigned—Include amounts intended by the Board to be used for specific purposes determined by
a formal action in the form of a resolution but are neither restricted nor committed. The Board's
policy authorizes the County Administrator to assign fund balance based on intentions for use of
fund balance communicated by the Board.
UnassignedThe— Th— The residual classification of the General Fund. Only the General Fund reports a
positive unassigned fund balance. Other governmental funds might report a negative balance in
this classification, as the result of overspending for specific purposes for which amounts had been
restricted, committed, or assigned. Unassigned fund balance does not necessarily represent the
amount of fund balance that can be appropriated.
The Board has the responsibility of responding to emergency disaster and has committed $10 million in
the General Fund's disaster reserve funds to ensure adequate cash flow is available in post-disaster
situations.
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 Board spends restricted amounts first, when both restricted and unrestricted fund balance is
available, unless prohibited by legal documents, grant agreements or contracts. Additionally, the Board
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-11
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
Net Position:
Net position in the proprietary fund financial statements is classified as net investment in capital assets,
restricted, and unrestricted. Restricted net position of$7,078,684 indicates 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.
New Accounting Pronouncement:
Effective October 1, 2017, the Board adopted the provisions of GASB Statement No. 75, Accounting
and Financial Reporting for Postemployment Benefits Other Than Pensions. This statement established
standards for measuring and recognizing liabilities, deferred inflows and outflows of resources, and
expenses for OPEB liabilities; modified certain disclosures in the notes to financial statements; and the
required supplementary information. Note 22 details the restatement of the beginning net position for the
Board's business-type and internal service funds.
NOTE 2—CASH, CASH EQUIVALENTS AND INVESTMENTS
The Board maintains a cash and investment pool available for use by all funds except those whose cash
and investments must be segregated due to bond covenants or other legal restrictions.
As of September 30, 2018, the carrying value of the Board's deposits and investments, with their
respective credit ratings, are as follows:
Valuation
Credit Measurement Less than 6 6 Months to 1
Investment Type Rating Method Fair Value Months Year 1 to 3 Years
Demand and Time Deposits N/A N/A $ 88,222,943 $ 88,222,943 $ $
Equity Securities N/A Fair Value-Level 1 11,777 12,932 -
US Treasury Notes AA+ Fair Value-Level 2 78,288,540 51,124,155 10,302,431 16,861,954
US Treasury Bills A-1+ Fair Value-Level 2 18,297,375 18,297,375 - -
Federal Agency Bond/Note AA+ Fair Value-Level 2 53,781,483 12,952,665 24,180,168 16,648,650
FEITF&FEIT Term AAA Fair Value-Level 2 20,796,711 4,696,711 13,800,000 2,300,000
Total Fair Value $ 259,398,829 $ 175,306,781 $ 48,282,599 $ 35,810,604
The Board categorizes its fair value measurements within the fair value hierarchy established by GAAP.
The hierarchy is based on the valuation inputs used to measure the fair value of the asset. Level 1
securities are valued using direct observable unadjusted quoted prices in active markets for identical
assets. Level 2 securities are valued using observable inputs other than quoted market prices in active
markets.
D-12
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 2—CASH, CASH EQUIVALENTS AND INVESTMENTS (continued)
There are no restrictions or limitations on withdrawals.
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, 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.
Concentration of Credit Risk — The Policy establishes limitations on portfolio composition, by both
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:
Portfolio
Investment Type Maximum Maximum in Any One Issuer
United States Treasury Securities 100% N/A
United States Government Agencies 50% 10%
Federal Instrumentalities Maximum in callable securities 80% 30%,with a maximum of 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
At September 30, 2018, the portion of the Board's investment portfolio invested in Federal
instrumentalities is detailed as follows:
Percent of
Investment
Issue Portfolio
Federal Home Loan Bank(FHLB) 8.61%
Federal National Mortgage Association (FNMA) 14.44%
Federal Home Loan Mortgage Corporation (FHLMC) 8.37%
D-13
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 2—CASH, CASH EQUIVALENTS AND INVESTMENTS (continued)
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 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 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, 2018, 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 noncurrent operating funds to five years.
Restricted Cash and Cash Equivalents — The Board has the following unrestricted and restricted cash
and cash equivalents at September 30, 2018:
Demand
Cash & Cash Equivalents Deposits
Governmental Activities
Governmental Funds $65,910,123
Internal Service Funds 5,378,225
Business-Type Activities 10,127,473
Total Unrestricted Cash& Cash Equivalents 81,415,821
Restricted Cash & Cash Equivalents
Business-Type Activities 6,807,122
Total Cash & Cash Equivalents $88,222,943
NOTE 3 —RESTRICTED ASSETS
Restricted assets in the Enterprise Funds include those assets created by resolutions adopted by the
Board for the airport passenger facility charges and customs service operations. Total restricted assets as
of September 30, 2018 are as follows:
Cash and Cash Accounts
Equivalents Receivable Total
Key West Airport Passenger Facility Charges $6,645,043 $ 271,562 $6,916,605
Marathon Airport Customs Service Operations 162,079 - 162,079
$6,807,122 $ 271,562 $7,078,684
D-14
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 4—ACCOUNTS RECEIVABLE
Accounts receivable, in the accompanying fund financial statements, are shown net of the allowance for
doubtful accounts. The accounts receivable and the allowance balances are as follows:
Allowance for
Accounts Uncollectible Accounts
Service Provided Receivable Accounts Receivable,Net
Governmental Activities:
General Fund Misc $ 10,067 $ - $ 10,067
Fine &Forfeiture Fund Air Amb Svc 22,106,625 21,056,190 1,050,435
Governmental Grants Misc 11 - 11
Nonmajor Funds:
Fire&Amb Dist 1 Fund Ground Amb Svc 2,212,181 2,183,628 28,553
Internal Service Funds Misc 51,012 - 51,012
Total Governmental 24,379,896 23,239,818 1,140,078
Business-Type Activities:
MSD-Waste Fund: Tipping Fees 218,001 22,321 195,680
Waste Assessments 8,139 7,326 813
Solid Waste 406 - 406
Key West Airport Rent,Misc 698,152 - 698,152
Marathon Airport Rent,Misc 34,450 - 34,450
Total Business-Type Activities 959,148 29,647 929,501
Total Accounts Receivable $ 25,339,044 $ 23,269,465 $ 2,069,579
The Board voted to approve air and ground ambulance billing write offs of$2,031,463 and $279,376 for
fiscal year 2018.
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 Board has funded these projects with state
grants and loans, local infrastructure sales surtax and special assessments levied on the property owners.
The property owners have the option of paying their special assessments up front or on an installment
basis added to their real estate tax bills. Revenue is recognized on the modified accrual basis.
Any remaining assessment owed is recorded as a receivable with an offset to deferred inflows of
resources for those amounts that are not available.
D-15
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 6—MORTGAGES RECEIVABLE
Mortgages receivable at September 30, 2018 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. S 540,150
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. 24,778
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. 7,254,902
Second Mortgages Receivable from individuals, collateralized by personal
residences. The entire balance of the mortgages will be forgiven upon maturity,
provided that the mortgagor complies with the mortgage covenants. The
mortgages are interest free. 452,248
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. 22,142
Florida Homebuyer Opportunity Tax Credit (FHOP), Second Mortgages
Receivable from individuals, collateralized by personal residences. Interest is
6% per annum, except if paid in full within first 18 months of repayment period
then interest rate shall be 0% from the date when the first payment is due. 16,000
D-16
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 6—MORTGAGES RECEIVABLE (continued)
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. 400,533
Total Nonmajor Governmental Funds-Local Housing Assistance 8,170,603
Total Mortgages Receivable $8,710,753
The mortgages receivable associated with the governmental grants are offset by an allowance for
uncollectible accounts of $540,150. As the mortgages receivable associated with the Local Housing
Assistance fund are intended to ultimately be forgiven, an allowance for uncollectible accounts of
$8,170,603 has been established.
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.
On September 10, 2017, Monroe County sustained catastrophic damage county-wide due to a direct hit
from Hurricane Irma. As a result, a number of the Board's assets sustained storm-related damage.
Throughout FY 2018, repairs and replacements were being made to damaged assets in accordance with
guidelines established by the Federal Emergency Management Agency (FEMA). Most repairs and
replacements will be financed with reimbursements from FEMA or insurance recoveries.
D-17
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 7—CAPITAL ASSETS (continued)
Capital asset activity for the year ended September 30, 2018 is shown in the following table:
Beginning Ending
Balance Additions Reductions Balance
Governmental Activities:
Capital assets not depreciated:
Land $ 75,624,443 $ 1,674,218 $ - $ 77,298,661
Construction in progress 63,564,865 20,953,546 (50,372,700) 34,145,711
Total capital assets not depreciated 139,189,308 22,627,764 (50,372,700) 111,444,372
Capital assets depreciated:
Buildings 162,862,281 1,845,599 - 164,707,880
Equipment 33,820,993 2,850,117 (1,626,630) 35,044,480
Infrastructure 284,686,200 45,638,841 (96,028) 330,229,013
Capacity rights 3,150,000 - - 3,150,000
Total assets depreciated 484,519,474 50,334,557 (1,722,658) 533,131,373
Less accumulated depreciation for:
Buildings (64,754,910) (3,395,480) - (68,150,390)
Equipment (24,106,704) (2,380,390) 1,412,099 (25,074,995)
Infrastructure (42,165,631) (6,550,342) - (48,715,973)
Capacity rights (413,634) (31,818) - (445,452)
Total accumulated depreciation (131,440,879) $ (12,358,030) $ 1,412,099 (142,386,810)
Total capital assets depreciated,net 353,078,595 390,744,563
Governmental funds,capital assets,net $492,267,903 $ 502,188,935
Business-Tyne Activities:
Capital assets not depreciated:
Land $ 5,647,606 $ - $ - $ 5,647,606
Construction in progress 8,571,723 23,191,975 (16,955,839) 14,807,859
Total capital assets not depreciated 14,219,329 23,191,975 (16,955,839) 20,455,465
Capital assets depreciated:
Land improvements 212,925 - - 212,925
Buildings 58,849,371 3,450,022 - 62,299,393
Equipment 5,194,297 1,117,776 (388,265) 5,923,808
Infrastructure 56,437,327 13,551,792 - 69,989,119
Total assets depreciated 120,693,920 18,119,590 (388,265) 138,425,245
Less accumulated depreciation for:
Land Improvements (212,925) - - (212,925)
Buildings (16,817,880) (1,499,902) - (18,317,782)
Equipment (3,730,721) (430,307) 387,862 (3,773,166)
Infrastructure (25,232,949) (1,662,506) - (26,895,455)
Total accumulated depreciation (45,994,475) $(3,592,715) $ 387,862 (49,199,328)
Total capital assets depreciated,net 74,699,445 89,225,917
Business-type activities,capital assets,net $ 88,918,774 $ 109,681,382
D-18
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 7 —CAPITAL ASSETS (continued)
Depreciation was charged to functions/programs on the government-wide Statement of Activities of the
County as follows:
Governmental Activities: Business-Type Activities:
General Government $ 2,011,519 Municipal Service District-Waste $ 115,948
Public Safety 2,251,546 Card Sound Bridge 326,126
Physical Environment 4,913,541 Key West Airport 2,494,910
Transportation 979,269 Marathon Airport 655,731
Economic Environment 925,006
Human Services 212,877 Total Business-Type Activities $3,592,715
Culture and Recreation 381,916
Court-Related 682,356
Total Governmental Activities $12,358,030
NOTE 8—POST EMPLOYMENT BENEFITS OTHER THAN PENSION
General Information about the Other Post-Employment Benefits:
Plan Description — The Board administers a single-employer defined benefits healthcare plan (the
"Plan"). Section 112.0801, Florida Statutes, 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, prescription drug
benefits, and life insurance to both active and eligible retired employees. The Plan does not issue a
publicly available financial report. No assets are accumulated in a trust that meets the criteria as set forth
in GASB Statement No. 75.
The Board 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 Board approves the rates for the coming calendar year for the retiree and
County contributions.
The Plan includes participants from the Board and each Constitutional Officer. The Board is responsible
for funding all obligations not funded on a pay-as-you-go basis by Constitutional Officers. However, the
following disclosures are based on the Board's enterprise and internal service funds' share of the net
Other Post-Employment Benefits (OPEB) obligation.
D-19
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 8—POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued)
Benefits Provided — Employees who retire as active participants 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 Board. Employees who retire as active participants 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) but are not eligible for Medicare, may maintain group
insurance benefits with the County following retirement, provided that the retiring employee contributes
the amounts as shown in the following table.
Contribution as Percentage of Annual Actuarial Rate
Plan Years of Service with Monroe County
Year 25+ 20-24 10-19
2018 HISO) 17% 18%
2019 HIS 18% 26%
2020 HIS 20% 34%
2021 HIS 22% 42%
2022 HIS 25% 50%
(1)Participation in the Plan is at a cost equal to the FRS Health Insurance Subsidy
(HIS) for ten years of service (currently $5 per month for each year of service
credit at retirement with a minimum HIS payment of$30 and a maximum HIS
payment of$150 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 based on the
preceding table. Surviving spouses and dependents of participating retirees may continue in the Plan if
eligibility criteria specific to those classes are met.
An employee who retires as an active participant in the Plan, was hired prior to October 1, 2001, has at
least ten years of full-time service with the County, and meets the retirement criteria of the FRS and is
eligible for Medicare at the time of retirement or becomes eligible for Medicare following retirement,
may maintain group health insurance benefits with the County following retirement, provided the
retiring employee contributes the Actuarial Rate for Medicare retirees as determined by the actuarial
firm engaged by the County, less a $250 per month County subsidy. Alternatively, retirees meeting these
criteria may elect to leave the County health plan and receive a $250 per month payment from the
County, payable for the lifetime of the retiree.
Employees Covered by Benefit Terms — Eligibility for post-employment participation in the Plan is
limited to full time employees of the County and the Constitutional Officers. At September 30, 2018,
there were no terminated employees entitled to deferred benefits. The membership of the Board's
medical plan consisted of:
Active Employees 533
Retirees and Beneficiaries Currently Receiving Benefits 422
Total Membership 955
D-20
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 8—POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued)
Contributions— The Board establishes, and may amend, the contribution requirements of Plan members.
The required contribution is based on pay-as-you-go financing requirements, net of member
contributions.
Total OPEB Liability:
The Board's enterprise and internal service funds total OPEB liabilities of$1,659,000 was measured as
of September 30, 2018, and was determined by an actuarial evaluation as of March 4, 2019.
Actuarial Methods and Assumptions—The valuation dated March 4, 2019, was prepared using generally
accepted actuarial principles and practices, and relied on unaudited census data and medical claims data
reported by the Board.
The total OPEB liability for the Board's enterprise and internal service funds in the September 30, 2018
actuarial valuation was determined using the following actuarial assumptions and other inputs, applied
to all periods included in the measurement, unless otherwise specified:
Actuarial Cost Method Entry Age Normal based on level of percentage of
projected salary.
Inflation Rate 3.0%per annum
Salary Increase Rate 3.5%per annum
Discount Rate 3.63%per annum (Beginning of Year)
4.18%per annum (End of Year)
Source: Bond Buyer 20-Bond GO index
Medical Consumer Price Index Trend 3.0%per annum
Marriage Rate The assumed number of eligible dependents was
based on the current proportions of single and
family contracts in the census provided by the
Board.
Spouse Age Spouse dates of birth were provided by the
County. Where this information was missing, male
spouses were assumed to be three years older than
female spouses.
Medicare Eligibility All current and future retirees were assumed to be
eligible for Medicare at age 65.
Amortization Method Experience/Assumptions gains and losses were
amortized over a closed period of 11.0 years
starting on October 1, 2017, equal to the average
remaining service of active and inactive plan
members (who have no future service).
D-21
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 8—POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued)
The actuarial assumptions include an annual health care cost trend rate of 7.0% initially, reduced by
decrements of 0.5% to an ultimate rate of 4.5%. The assumptions included a discount rate tied to the
return expected on the funds used to pay the benefits, and assumes for an unfunded plan, that the
benefits continue to be funded on a pay-as-you-go basis.
Mortality rates were based on the RP-2014 generational table scaled using MP-17 and applied on a
gender-specific basis.
Changes in the Total OPEB Liability For the Board's Enterprise and Internal Service Funds:
Total OPEB
Liability
Balance at the beginning of the year $ 2,932,387
Changes for the year:
Service cost 55,543
Interest cost 138,009
Changes of benefit terms on January 1, 2018 (1,562,148)
Changes in assumptions or other inputs (29,900)
Benefit payments 125,109
Net change in total OPEB liability (1,273,387)
Balance at the end of the year $ 1,659,000
Effective January 1, 2018, the Board implemented cost-saving benefit changes for the Plan. The changes
included using premium rates that were calculated based on expected retiree costs for Medicare retirees
and lower premium subsidies for eligible retirees. The impact of these changes is reflected in the total
OPEB expense.
Changes of assumptions included updating the mortality to be a generational table with updated
projection scales released by the Society of Actuaries, an interest rate using 20-year bond rates and a
change in Actuarial Cost methodology to the Entry Age Normal. The assumptions of changes, other than
the change in the discount rate, are not reflected in the above schedule of changes in the total OPEB
liability because they were reflected as a liability in the prior year.
Sensitivity of the total OPEB liability to changes in the discount rate— The following presents the total
OPEB liability of the Board's enterprise and internal service funds, as well as what the total OPEB
liability for the Board's enterprise and internal service funds would be if it were calculated using a
discount rate that is 1-percentage-point lower (3.18 percent) or 1-percentage-point higher (5.18 percent)
than the current discount rate:
Current Discount
1% Decrease Rate 1%Increase
(3.18%) (4.18%) (5.18%)
Total OPEB Liability $1,496,239 $1,659,000 $1,849,792
D-22
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 8—POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued)
Sensitivity of the total OPEB liability to changes in the healthcare cost trend rates — The following
presents the total OPEB liability of the Board's enterprise and internal service funds, as well as what the
total OPEB liability would be for the Board's enterprise and internal service funds if it were calculated
using a healthcare cost trend rates that are 1-percentage-point lower(6 percent decreasing to 3.5 percent)
or 1-percentage-point higher (8 percent decreasing to 5.5 percent) than the current healthcare cost trend
rates:
Healthcare Cost Trend Rates
1% Decrease Current Trend 1% Increase
(6%decreasing to 3.5%) (7%decreasing to 4.5%) (8%decreasing to 5.5%)
Total OPEB Liability $1,535,293 $1,659,000 $1,811,858
OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to
OPEB
For the year ended September 30, 2018, the Board's enterprise and internal service funds recognized
negative OPEB expense of $1,398,496. At September 30, 2018, the Board's enterprise and internal
service funds reported deferred outflows of resources and deferred inflows of resources related to the
OPEB from the following sources:
Deferred Deferred
Outflows of Inflows of
Resources Resources
Changes of Assumptions or Other Inputs - $ (281,541)
The amounts the Board's enterprise and internal service funds reported as deferred outflows of resources
and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows:
OPEB
For Fiscal Year: Amount
2019 $ (29,902)
2020 (29,902)
2021 (29,902)
2022 (29,902)
2023 (29,902)
Thereafter (132,031)
Total $ (281,541)
D-23
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 9—FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS
General Information:
All of the Board's employees participate in the Florida Retirement System (FRS). As provided by
Chapters 121 and 112, Florida Statutes, the FRS provides two cost sharing, multiple employer defined
benefit plans administered by the Florida Department of Management Services, Division of Retirement,
including the FRS Pension Plan (Pension Plan) and the Retiree Health Insurance Subsidy (HIS Plan).
Under Section 121.4501, Florida Statutes, the FRS also provides a defined contribution plan (Investment
Plan) alternative to the FRS Pension Plan, which is administered by the State Board of Administration
(SBA). As a general rule, membership in the FRS is compulsory for all employees working in a
regularly established position for a state agency, county government, district school board, state
university, community college, or a participating city or special district within the State of Florida. The
FRS provides retirement and disability benefits, annual cost-of-living adjustments, and death benefits to
plan members and beneficiaries. Benefits are established by Chapter 121, Florida Statutes, and Chapter
60S, Florida Administrative Code. Amendments to the law can be made only by an act of the Florida
State Legislature.
The State of Florida annually issues a publicly available financial report that includes financial
statements and required supplementary information for the FRS. The latest available report may be
obtained by writing to the State of Florida Division of Retirement, Department of Management Services,
P.O. Box 9000, Tallahassee, Florida 32315-9000, or from the Web site:
www.dms.myflorida.com/workforce_operations/retirement/publications.
Pension Plan:
Plan Description — The Pension Plan is a cost-sharing multiple-employer defined benefit pension plan,
with a Deferred Retirement Option Program (DROP) for eligible employees.
Benefits Provided — Benefits under the Pension Plan are computed on the basis of age, average final
compensation, and service credit. For Pension Plan members enrolled before July 1, 2011, Regular class
members who retire at or after age 62 with at least six years of credited service or 30 years of service
regardless of age are entitled to a retirement benefit payable monthly for life, equal to 1.6% of their final
average compensation based on the five highest years of salary, for each year of credited service. Vested
members with less than 30 years of service may retire before age 62 and receive reduced retirement
benefits.
Special Risk Administrative Support class members who retire at or after age 55 with at least six years
of credited service or 25 years of service regardless of age are entitled to a retirement benefit payable
monthly for life, equal to 1.6% of their final average compensation based on the five highest years of
salary, for each year of credited service. Special Risk class members (sworn law enforcement officers,
firefighters, and correctional officers) who retire at or after age 55 with at least six years of credited
service, or with 25 years of service regardless of age, are entitled to a retirement benefit payable
monthly for life, equal to 3.0% of their final average compensation based on the five highest years of
salary for each year of credited service.
D-24
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 9—FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
Senior Management Service class members who retire at or after age 62 with at least six years of
credited service or 30 years of service regardless of age are entitled to a retirement benefit payable
monthly for life, equal to 2.0% of their final average compensation based on the five highest years of
salary for each year of credited service.
Elected Officers' class members who retire at or after age 62 with at least six years of credited service or
30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal
to 3.0% (3.33% for judges and justices) of their final average compensation based on the five highest
years of salary for each year of credited service.
For Plan members enrolled on or after July 1, 2011, the vesting requirement is extended to eight years of
credited service for all these members and increasing normal retirement to age 65 or 33 years of service
regardless of age for Regular, Senior Management Service, and Elected Officers' class members, and to
age 60 or 30 years of service regardless of age for Special Risk and Special Risk Administrative Support
class members. Also, the final average compensation for all these members will be based on the eight
highest years of salary.
As provided in Section 121.101, Florida Statutes, if the member is initially enrolled in the Pension
Plan before July 1, 2011, and all service credit was accrued before July 1, 2011, the annual cost-of-
living adjustment is three percent per year. If the member is initially enrolled before July 1, 2011,
and has service credit on or after July 1, 2011, there is an individually calculated cost-of-living
adjustment. The annual cost-of-living adjustment is a proportion of three percent determined by
dividing the sum of the pre-July 2011 service credit by the total service credit at retirement multiplied
by three percent. Plan members initially enrolled on or after July 1, 2011, will not have a cost-of-living
adjustment after retirement.
In addition to the above benefits, the DROP program allows eligible members to defer receipt of
monthly retirement benefit payments while continuing employment with a FRS employer for a period
not to exceed 60 months after electing to participate. Deferred monthly benefits are held in the FRS
Trust Fund and accrue interest. There are no required contributions by DROP participants.
Contributions— Effective July 1, 2011, all enrolled members of the FRS, other than DROP participants,
are required to contribute three percent of their salary to the FRS. In addition to member contributions,
governmental employers are required to make contributions to the FRS based on state-wide contribution
rates established by the Florida Legislature. These rates are updated as of July 1 of each year. The
employer contribution rates by job class for the periods from October 1, 2017 through June 30, 2018 and
from July 1, 2018 through September 30, 2018, respectively, were as follows: Regular7.92% and
8.26%; Special Risk Administrative Support34.63% and 34.98%; Special Risk23.27% and 24.50%;
Senior Management Service22.71% and 24.06%; Elected Officers'--45.50% and 48.70%; and DROP
participants13.26% and 14.03%. These employer contribution rates include 1.66% and 1.66% HIS
Plan subsidy for the periods October 1, 2017 through June 30, 2018 and from July 1, 2018 through
September 30, 2018, respectively.
D-25
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 9—FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
The Board's contributions, including employee contributions, to the Pension Plan for its business-type
activities totaled $335,835 for the fiscal year ended September 30, 2018.
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions — The Board's governmental funds, which use the current resources
measurement basis of accounting, generally recognize pension expense as amounts are paid. Pension
liabilities are recognized at the fund level only to the extent expected to be liquidated with expendable
available financial resources. Amounts associated with long-term pension liabilities and related deferred
outflows of resources and deferred inflows of resources are reported on the government-wide financial
statements of the County, rather than the financial statements of the Board.
The Board's enterprise and internal service funds recognize pension liabilities, pension expense and
deferred outflows of resources and deferred inflows of resources related to pensions on the accrual basis
of accounting. At September 30, 2018, the Board's enterprise and internal service funds reported a
liability of $5,138,602 for their proportionate share of the Pension Plan's net pension liability. The net
pension liability was measured as of June 30, 2018, and the total pension liability used to calculate the
net pension liability was determined by an actuarial valuation as of July 1, 2018. The Board's
proportionate share of the net pension liability was based on the Board's FY 2018 contributions relative
to the FY 2018 contributions of all participating members. At June 30, 2018, the Board's proportionate
share for all funds was 0.1290 percent, which was an increase of 0.0186 percent from its proportionate
share measured as of June 30, 2017. Approximately 13.22% of the Board's proportionate share of the
net pension liability was allocated to the enterprise and internal service funds of the Board based on their
proportionate share of the Board's pension plan contributions.
For the fiscal year ended September 30, 2018, the Board's enterprise and internal service funds
recognized pension expense of $916,269. In addition, these activities reported deferred outflows of
resources and deferred inflows of resources related to pensions from the following sources:
FRS Pension
Deferred Deferred
Outflows of Inflows of
Resources Resources
Differences Between Expected and Actual Experience $ 394,375 $ 14,314
Changes of Assumptions 1,521,133 -
Net Difference Between Projected and Actual
Earnings on Pension Plan Investments - 359,682
Changes in Proportion and Differences Between
Pension Plan Contributions and Proportionate Share
of Contributions 411,443 29,802
Pension Plan Contributions Subsequent to
the Measurement Date 119,202 -
Total $ 2,446,153 $ 403,798
D-26
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 9—FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
The Pension Plan's deferred outflows of resources related to the Board's enterprise and internal service
funds contributions to the Plan subsequent to the measurement date, totaling $119,202, will be
recognized as a reduction of the net pension liability in the fiscal year ended September 30, 2019. Other
amounts reported as deferred outflows of resources and deferred inflows of resources related to the
Pension Plan will be recognized in pension expense of the enterprise and internal service funds as
follows:
FRS
For Fiscal Year: Amount
2019 $ 745,110
2020 508,507
2021 70,901
2022 338,599
2023 226,407
Thereafter 33,629
Total $ 1,923,153
Actuarial Assumptions — The total pension liability in the June 30, 2018 actuarial valuation was
determined using the following actuarial assumption, applied to all periods included in the measurement:
Inflation 2.60%
Salary increases 3.25%, average, including inflation
Investment rate of return 7.00%, net of pension plan investment
expense, including inflation
Mortality rates were based on the Generational RP-2000 with Projection Scale BB tables.
The actuarial assumptions used in the July 1, 2018, valuation were based on the results of an actuarial
experience study for the period July 1, 2008 through June 30, 2013.
The long-term expected rate of return decreased from 7.10% to 7.00%, and the active member mortality
assumption was updated.
The long-term expected rate of return on Pension Plan investments was not based on historical returns,
but instead is based on a forward-looking capital market economic model. The allocation policy's
description of each asset class was used to map the target allocation to the asset classes shown below.
Each asset class assumption is based on a consistent set of underlying assumptions and includes an
adjustment for the inflation assumption. The target allocation and best estimates of arithmetic and
geometric real rates of return for each major asset class are summarized in the following table:
D-27
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 9—FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
Compound
Annual Annual
Target Arithmetic (Geometric) Standard
Asset Class Allocation Return Return Deviation
Cash 1.0% 2.9% 2.9% 1.8%
Fixed Income 18.0% 4.4% 4.3% 4.0%
Global Equity 54.0% 7.6% 6.3% 17.0%
Real Estate (Property) 11.0% 6.6% 6.0% 11.3%
Private Equity 10.0% 10.7% 7.8% 26.5%
Strategic Investments 6.0% 6.0% 5.7% 8.6%
Total 100.0%
Discount Rate — The discount rate used to measure the total pension liability was 7.00%. The Pension
Plan's fiduciary net position was projected to be available to make all projected future benefit payments
of current active and inactive employees. Therefore, the discount rate for calculation of the total pension
liability is equal to the long-term expected rate of return.
Sensitivity of the Board's Proportionate Share of the Net Position Liability to Changes in the Discount
Rate — The following represents the Board's enterprise and internal service funds proportionate share of
the net pension liability calculated using the discount rate of 7.00%, as well as what the proportionate
share of the net pension liability would be if it were calculated using a discount rate that is one
percentage point lower(6.00%) or one percentage point higher(8.00%) than the current rate:
FRS Net Pension Liability
Current Discount
1% Decrease Rate 1% Increase
(6.00%) (7.00%) (8.00%)
Enterprise and Internal Service
Funds Proportionate Share
of the Net Pension Plan Liability $ 9,378,164 $ 5,138,602 S 1,617,395
Pension Plan Fiduciary Net Position — Detailed information regarding the Pension Plan's fiduciary net
position is available in the separately issued FRS Pension Plan and Other State-Administered Systems
Comprehensive Annual Financial Report.
D-28
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 9 —FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
HIS Plan:
Plan Description — The HIS Plan is a cost-sharing multiple-employer defined benefit pension plan
established under Section 112.363, Florida Statutes, and may be amended by the Florida legislature at
any time. The benefit is a monthly payment to assist retirees of State-administered retirement systems in
paying their health insurance costs and is administered by the Florida Department of Management
Services, Division of Retirement.
Benefits Provided — For the fiscal year ended September 30, 2018, eligible retirees and beneficiaries
received a monthly HIS payment of $5 for each year of creditable service completed at the time of
retirement, with a minimum HIS payment of$30 and a maximum HIS payment of$150 per month. To
be eligible to receive these benefits, a retiree under a State-administered retirement system must provide
proof of health insurance coverage, which may include Medicare.
Contributions — The HIS Plan is funded by required contributions from FRS participating employers as
set by the Florida Legislature. Employer contributions are a percentage of gross compensation for all
active FRS members. For the fiscal year ended September 30, 2018, the HIS contribution for the period
October 1, 2017 through June 30, 2018 and from July 1, 2018 through September 30, 2018 was 1.66%
and 1.66%, respectively. The Board contributed 100% of its statutorily required contributions for the
current and preceding three years. HIS Plan contributions are deposited in a separate trust fund from
which payments are authorized. HIS Plan benefits are not guaranteed and are subject to annual
legislative appropriation. In the event legislative appropriation or available funds fail to provide full
subsidy benefits to all participants, benefits may be reduced or cancelled.
The Board's contributions to the HIS Plan for its business-type activities totaled $58,808 for the fiscal
year ended September 30, 2018.
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions—The basis of accounting and financial reporting of the Board's HIS Plan
is identical to that of the Board's Pension Plan. At September 30, 2018, the Board's enterprise and
internal service funds reported a liability of$1,827,428 for their proportionate share of the Board's HIS
Plan's net pension liability. The net pension liability was measured as of June 30, 2018, and the total
pension liability used to calculate the net pension liability was determined by an actuarial valuation as of
July 1, 2018. The Board's proportionate share of the net pension liability was based on the Board's FY
2018 contributions relative to the FY 2018 contributions of all participating members. At June 30, 2018,
the Board's proportionate share of all funds was 0.1133 percent, which was an increase of 0.0144
percent from its proportionate share measured as of June 30, 2017. Approximately 15.24% of the
Board's proportionate share of the net pension liability was allocated to the enterprise and internal
service funds of the Board based on their proportionate share of the Board's HIS Plan contributions.
For the fiscal year ended September 30, 2018, the Board's enterprise and internal service funds
recognized pension expense of $176,410. In addition, these activities reported deferred outflows of
resources and deferred inflows of resources related to pensions from the following sources:
D-29
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 9—FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
HIS Pension
Deferred Deferred
Outflows of Inflows of
Resources Resources
Differences Between Expected and Actual Experience $ 25,813 $ 2,864
Changes of Assumptions 187,522 178,276
Net Difference Between Projected and Actual
Earnings on HIS Plan Investments 1,017 -
Changes in Proportion and Differences Between
HIS Plan Contributions and Proportionate Share
of Contributions 230,308 -
HIS Plan Contributions Subsequent to
the Measurement Date 22,319 -
Total $ 466,979 $ 181,140
The deferred outflows of resources related to the HIS Plan resulting from the Board's enterprise and
internal service funds contributions to the HIS Plan subsequent to the measurement date, totaling
$22,319, will be recognized as a reduction of the net pension liability in the fiscal year ended September
30, 2019. Other amounts reported as deferred outflows of resources and deferred inflows of resources
related to the HIS Plan will be recognized as pension expense in the enterprise and internal service funds
as follows:
HIS
For Fiscal Year: Amount
2019 $ 184,047
2020 183,367
2021 128,461
2022 28,853
2023 (179,098)
Thereafter ( 82,110)
Total $ 263,520
Actuarial Assumptions — The total pension liability in the July 1, 2018, actuarial valuation was
determined using the following actuarial assumptions, applied to all periods included in the
measurement:
Inflation 2.60%
Salary increases 3.25%, average, including inflation
Municipal bond rate 3.87%
Mortality rates were based on the Generational RP-2000 with Projection Scale BB tables.
D-30
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 9 —FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
The actuarial assumptions used in the July 1, 2018, valuation were based on the results of an actuarial
experience study for the period July 1, 2008 through June 30, 2013.
The municipal rate used to determine total pension liability increased from 3.58% to 3.87%.
Discount Rate — The discount rate used to measure the total pension liability was 3.87%. In general, the
discount rate for calculating the total pension liability is equal to the single rate equivalent to discounting
at the long-term expected rate of return for benefit payments prior to the projected depletion date.
Because the HIS benefit is essentially funded on a pay-as-you-go basis, the depletion date is considered
to be immediate, and the single equivalent discount rate is equal to the municipal bond rate selected by
the HIS Plan sponsor. The Bond Buyer General Obligation 20-Bond Municipal Bond Index was adopted
as the applicable municipal bond index.
Sensitivity of the Board's Proportionate Share of the Net Position Liability to Changes in the Discount
Rate — The following represents the Board's enterprise and internal service funds proportionate share of
the net pension liability calculated using the discount rate of 3.87%, as well as what the proportionate
share of the net pension liability would be if it were calculated using a discount rate that is one
percentage point lower(2.87%) or one percentage point higher(4.87%) than the current rate:
HIS Net Pension Liability
Current Discount
1% Decrease Rate 1%Increase
(2.87%) (3.87%) (4.87%)
Enterprise and Internal Service
Funds Proportionate Share
of the Net HIS Plan Liability $ 2,081,335 $ 1,827,428 $ 1,615,785
Pension Plan Fiduciary Net Position — Detailed information regarding the HIS Plan's fiduciary net
position is available in the separately issued FRS Pension Plan and Other State-Administered Systems
Comprehensive Annual Financial Report.
Investment Plan:
The SBA administers the defined contribution plan officially titled the FRS Investment Plan. The
Investment Plan is reported in the SBA's annual financial statements and in the State of Florida
Comprehensive Annual Financial Report.
D-31
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 9—FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
As provided in Section 121.4501, Florida Statutes, eligible FRS members may elect to participate in the
Investment Plan in lieu of the FRS defined benefit plan. County employees participating in DROP
are not eligible to participate in the Investment Plan.Employer and employee contributions, including
amounts contributed to individual member's accounts, are defined by law, but the ultimate benefit
depends in part on the performance of investment funds. Benefit terms, including contribution
requirements, for the Investment Plan are established and may be amended by the Florida
Legislature. The Investment Plan is funded with the same employer and employee contribution rates
that are based on salary and membership class (Regular Class, Elected County Officers, etc.), as the
Pension Plan. Contributions are directed to individual member accounts, and the individual members
allocate contributions and account balances among various approved investment choices. Costs of
administering the Investment Plan, including the FRS Financial Guidance Program, are funded through
an employer contribution of 0.04% and 0.06% of payroll and by forfeited benefits of plan members
for the periods October 1, 2017 through June 30, 2018 and from July 1, 2018 through September 30,
2018, respectively. Allocations to the investment member's accounts during the F Y 2018, as
established by Section 121.72, Florida Statutes, are based on a percentage of gross compensation, by
class, as follows: Regular class 6.30%, Special Risk Administrative Support class 7.95%, Special Risk
class 14.00%, Senior Management Service class 7.67% and County Elected Officers class 11.34%.
For all membership classes, employees are immediately vested in their own contributions and are
vested after one year of service for employer contributions and investment earnings. If an
accumulated benefit obligation for service credit originally earned under the Pension Plan is
transferred to the Investment Plan, the member must have the years of service required for Pension
Plan vesting (including the service credit represented by the transferred funds) to be vested for these
funds and the earnings on the funds. Non-vested employer contributions are placed in a suspense
account for up to five years. If the employee returns to FRS-covered employment within the five-year
period, the employee will regain control over their account. If the employee does not return within the
five-year period, the employee will forfeit the accumulated account balance. For the fiscal year
ended September 30, 2018, the information for the amount of forfeitures was unavailable from the
SBA; however, management believes that these amounts, if any, would be immaterial to the Board.
After termination and applying to receive benefits, the member may rollover vested funds to
another qualified plan, structure a periodic payment under the Investment Plan, receive a lump sum
distribution, leave the funds invested for future distribution, or any combination of these options.
Disability coverage is provided; the member may either transfer the account balance to the Pension Plan
when approved for disability retirement to receive guaranteed lifetime monthly benefits under the
Pension Plan or remain in the Investment Plan and rely upon that account balance for retirement
income.
The Board's Investment Plan pension expense for its business-type activities totaled $60,679 for
the fiscal year ended September 30, 2018.
D-32
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY
MEDICAL SERVICES
General Information about the Pension Plan:
Plan Description— The Monroe County, Florida Volunteer Firefighter and Emergency Medical Services
Length of Service Award Plan (LOSAP) is a single-employer public employee retirement system
defined benefit pension plan created in 1999 and administered by the Board. LOSAP provides
retirement and death benefits to plan members and beneficiaries. Monroe County Ordinance 026-1999
defines the authority under which contribution and benefit provisions may be amended. This authority is
presently held by the Board. LOSAP shall be administered in accordance with the requirements of
Chapter 112, Part VII, Florida Statutes. Amounts associated with the Board's LOSAP program are
reported on the government-wide financial statements of the County, rather than on the financial
statements of the Board.
Benefits Provided — Only Volunteer Firefighters and EMS Volunteers (Volunteers) are eligible at the
sole discretion of the Plan Administrator. Any Volunteer who was age 60 or older on January 1, 1999
shall not be eligible to participate. In addition, any Volunteers who are age 60 or older at the time they
commence volunteer service, or who commence service at a time that will not permit them to earn ten
years of service by their Normal Retirement Age, shall not be eligible to participate in this Plan.
Volunteer Firefighters must attain the rank of Structural Firefighter, Non-Structural Firefighter and or
Emergency Vehicle Driver-Operator prior to being credited with ten years of service. EMS Volunteers
must meet all requirements as defined by the State of Florida necessary to drive an emergency medical
care and transportation vehicle (ambulance) and/or attain certification as an Emergency Medical
Technician or Paramedic prior to being credited with ten years of service. Eligibility for vesting is
completion of ten years of service. The Plan shall be administered in accordance with the requirements
of Chapter 112, Part VII, Florida Statutes.
For each year of volunteer service, a participant will accrue a year of benefit accrual if the participant
was enrolled as a member of the nonprofit corporation or municipal service taxing unit(MSTU) and was
eligible for and received reimbursement of expenses for nine or more months of the year. Volunteers are
vested after completion of ten years of service prior to attainment of normal retirement age. Eligible
volunteers can receive an annual benefit of$1,800 for ten years of service up to $4,500 for 25 years of
service.
Employees Covered by Benefit Terms — LOSAP had 41 participants, of which 9 are active, 18 are
inactive and 14 are retired members for the plan year ended December 31, 2018 and the County's fiscal
year ending September 30, 2018. Separate, stand-alone financial statements for LOSAP are not
provided.
Contributions— Contributions and benefits are calculated based on years of service. As the participants
are unpaid volunteers, there is no related covered payroll and no UALL as a percentage of covered
payroll.
D-33
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY
MEDICAL SERVICES (continued)
For each Plan Year, the Board shall appropriate funds from the budgets of the various fire/rescue
MSTU's. These funds will be applied as a contribution to the LOSAP trust account in an amount as
determined by the Plan Administrator as is necessary to fund the accrued or prospective benefits for
Participants on an actuarially sound basis and in accordance with Part VII of Chapter 112, Florida
Statutes. There are no participant contribution requirements. The authority under which those
obligations are established is the Monroe County Ordinance No. 026-1999.
Net Pension Liability:
The Board's net pension liability was measured as of January 1, 2018 and the total pension liability used
to calculate the net pension liability was determined by an actuarial valuation as of that date.
Actuarial Assumptions — The significant actuarial assumptions used to compute the pension benefit
obligation in the January 1, 2018 valuation for the period of January 1, 2017 through December 31, 2017
were:
1. Investment Yield: 1.0% for both present and future
2. Mortality Pattern: Not applicable
3. Salary increases: Not applicable; Benefits not based on salary
4. Termination: Godwin's Table 1, V Select& Ultimate Table, with 50% termination probability for
YOS<1
5. Inflation: No increase as benefits are based on a flat amount per year of service
The projection of cash flows used to determine the discount rate assumed that plan member
contributions will be made at the applicable current contribution rates and that Board contribution will
be made at rates equal to the difference between actuarially determined contributions and member
contributions. Based on those assumptions, the fiduciary net position for the LOSAP pension plans was
projected to be available to make all projected future benefit payments of current plan members.
Therefore, the long-term expected rate of return on LOSAP's investments was applied to all periods of
projected benefit payments to determine the total pension liability for each plan.
Summary of Significant Accounting Policies — The financial statements of LOSAP are prepared using
the modified accrual basis of accounting. The contributions are recognized when they become
susceptible to accrual; when they become both measurable and available. Benefits are recognized in the
accounting period in which the related fund liability is incurred in accordance with the terms of LOSAP.
Administrative costs are paid by the Board. Actuarial valuation costs are paid by LOSAP. All plan
investments are reported at fair value.
The resources in the LOSAP fund have been set aside to pay future obligations of the LOSAP but are
not held in a trust that meets the criteria outlined in GASB Statement No. 67, paragraph 3 and GASB
Statement No. 68, paragraph 4.
D-34
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY
MEDICAL SERVICES (continued)
Investments — Investments are pooled with all Board investments and are held in accordance to the
investment policy included in Note 1. All plan investments consist of U.S. Government and U.S.
Government-guaranteed obligations which represent more than 5.0% of the net position available for
benefits. There are no investments in, loans to or leases with any public employee retirement system
official, government employer official, party related to a public employee retirement system official or
government employer official, nonemployee contributor or organization included in the reporting entity.
Discount Rate — The discount rate used to measure the total pension liability was 1.00% (no change
from the prior measurement period). The projection of cash flows used to determine the discount rate
assumed that employee contributions will be made at the current contribution rate and that the Board's
contributions will be made at rates equal to the difference between actuarially determined contribution
rates and the employee rate. Based on those assumptions, the pension plan's net position was projected
to be available to make all projected future benefit payments of current active and inactive employees.
Therefore, the long-term expected rate of return on pension plan investments was applied to all periods
of projected benefit payments to determine the total pension liability.
Changes in Total LOSAP Pension Liability:
Total LOSAP
Pension Liability
Balance at January 1, 2017 $ 878,147
Changes for the year:
Service cost 12,761
Interest cost 9,146
Differences Between Expected and Actual Experience 182
Benefit payments (32,265)
Net change in total LOSAP pension liability (10,176)
Balance at December 31, 2017 $ 867,971
Sensitivity of the Net Pension Liability to Changes in the Discount Rate — The following table presents
the net pension liability of LOSAP, using the current discount rate, as well as what the Board'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
1% Decrease Discount Rate 1%Increase
(0.00%) (1.00%) (2.00%)
Net LOSAP Pension Liability $ 910,404 $ 867,971 $ 752,349
D-35
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY
MEDICAL SERVICES (continued)
Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related
to Pensions:
For the year ended September 30, 2018, the Board recognized pension expense of $32,265. At
September 30, 2018, the Board reported deferred outflows of resources and deferred inflows of
resources related to pensions from the following sources, which will be amortized in future periods on
substantially a straight-line basis:
Deferred Deferred
Outflows of Inflows of
Resources Resources
Net Difference Between Projected and Actual Earnings on
LOSAP Pension Plan Investments $ 119 $ -
NOTE 11 —CAPITAL AND OTHER SIGNIFICANT COMMITMENTS
Construction projects and significant commitments, excluding encumbrances reported below, under
present contractual agreements as of September 30, 2018 are as follows:
Cudjoe Regional Wastewater $ 8,800,000
Cudjoe Fire Station 3,911,000
Key Largo Road and Drainage Projects 1,739,000
Stock Island Road and Drainage Projects 1,391,438
Plantation Key Courthouse & Detention Center 1,217,947
Light Detection& Ranging Flood Zone Surveys 477,955
Bertha Street Road and Drainage Project 402,928
Pigeon Key Ramp 283,249
Transfer Stations 281,939
Key West Resort Utilities 241,134
Marathon Library 164,548
Higgs Beach 135,255
Jackson Square 133,382
Other Projects (less than $100,000) 204,281
Total $ 19,384,056
The entire construction costs of the Cudjoe Regional Wastewater project are estimated at $207 million.
There is an interlocal agreement between the County and the Florida Keys Aqueduct Authority (FKAA)
for this project. The County obtained partial funding through grants, the issuance of revenue notes
backed by the pledge of the infrastructure sales surtax, State of Florida clean water revolving loan and
wastewater special assessments to provide funding to FKAA for the administration, planning and
construction of wastewater projects.
D-36
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 11 —CAPITAL AND OTHER SIGNIFICANT COMMITMENTS (continued)
Significant encumbrance commitments at September 30, 2018 are as follows:
Encumbrances
Governmental Activities:
General Fund $ 404,452
Road& Bridge Fund 1,385,620
Governmental Grants Fund 31,459,063
One Cent Infrastructure Surtax 234,476
Series 2014 Revenue Bonds 72,991
Nonmajor Governmental Funds 89,723
Total Governmental Activities 33,646,325
Business-Type Activities:
Card Sound Bridge 68,184
Key West Airport 1,687,844
Marathon Airport 671,384
Total Business-Type Activities 2,427,412
Total Encumbrances $ 36,073,737
NOTE 12—LEASE OBLIGATIONS
Rental expense under cancelable operating leases for the current year amounted to $3,381,750. Of this
amount, $1,563,960 is for lease payments related to debris removal staging sites for the County's
Hurricane Irma recovery.
D-37
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 13 —LONGTERM DEBT
Long-term debt activity for the year ended September 30, 2018 is as follows:
Beginning Current Portion
Balances Ending of Long-Term
Restated' Additions Payments Balances Liabilities
Governmental Activities:
Revenue Bonds Payable $ 46,793,045 $ - $ 7,233,045 $ 39,560,000 $ 4,575,000
Revenue Notes Payable' 119,769,209 34,218,404 490,398 153,497,215 503,777
Mayfield Agreement(KLWTD) 15,000,000 1,250,000 1,000,000 15,250,000 2,125,000
Accrued Comp Absences 3,865,910 2,688,105 2,573,394 3,980,621 836,195
OPEB Liability2 37,950,285 2,560,972 19,040,619 21,470,638 -
FRS Pension Liability 38,535,442 11,024,397 4,084,068 45,475,771 -
LOSAP Pension Liability 878,147 22,089 32,265 867,971 -
Total Governmental Activities 262,792,038 51,763,967 34,453,789 280,102,216 8,039,972
Business-Type Activities:
Landfill Closure Costs 177,812 - 177,812 - -
Accrued Comp Absences 404,963 320,598 264,172 461,389 92,278
Revenue Notes Payable - 24,060,741 - 24,060,741 -
OPEB Liability2 1,972,601 219,507 1,076,108 1,116,000 -
FRS Pension Liability 4,705,346 1,067,679 394,643 5,378,382 -
Total Business-Type Activities 7,260,722 25,668,525 1,912,735 31,016,512 92,278
Total Long-Term Debt $270,052,760 $ 77,432,492 $ 36,366,524 $311,118,728 $ 8,132,250
AAdditions includes capitalized interest.
2The OPEB Liabilities'beginning balances are restated due to the implementation of GASB Statement No.75(See Note 22).
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.
On July 7, 2018, the Florida Department of Environmental Protection certified the closing of the
County's landfill site at Cudjoe Key. As a result, the long-term escrow liability required by Florida
Administrative Code was dissolved during the fiscal year.
D-38
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 13 —LONGTERM DEBT (continued)
The following summary reflects the Board's bonds and notes as of September 30, 2018:
Governmental Activities
Revenue Bonds:
Infrastructure Sales Surtax Revenue Bonds, Series 2014 $ 23,695,000
Infrastructure Sales Surtax Refunding Bond, Series 2016 15,865,000
Total Revenue Bonds 39,560,000
Revenue Notes:
Clean Water State Revolving Fund Construction Loan Agreement 2010 6,699,310
Clean Water State Revolving Fund Construction Loan Agreement 2014 130,858,646
Tax Exempt Master Revenue Note, Series 2018 (Hurricane Irma Recovery) 15,939,259
Total Revenue Notes 153,497,215
Mayfield Agreement—Key Largo Wastewater Treatment District 15,250,000
Total Government Debt $ 208,307,215
Business-Type Activities
Revenue Notes:
Tax Exempt Master Revenue Note, Series 2018 (Hurricane Irma Recovery) $ 24,060,741
Total Business-Type Activities Debt $ 24,060,741
D-39
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 13 —LONGTERM DEBT (continued)
Debt Service Funding Requirements — The total annual debt service requirements for bonds and notes
outstanding at September 30, 2018 are as follows:
Governmental Activities Business-Type Activities
Principal Interest Total Principal Interest Total
2019 $ 7,203,777 $ 1,005,482 $ 8,209,259 $ - $ - $ -
2020 12,497,781 1,296,028 13,793,809 7,819,741 613,722 8,433,463
2021 12,748,400 1,045,242 13,793,642 8,018,242 414,262 8,432,504
2022 13,008,389 788,334 13,796,723 8,222,758 209,740 8,432,498
2023 7,681,047 525,117 8,206,164 - - -
2024-2028 23,313,375 926,355 24,239,730 - - -
2029-2033 995,800 27,108 1,022,908 - - -
Total Required Debt
Service 77,448,569 $5,613,666 $83,062,235 $24,060,741 $1,237,724 $25,298,465
2014 Clean Water
State Revolving
Fund Construction
Loan Agreement' 130,858,646
Total $208,307,215
'Debt service for 2014 Clean Water State Revolving Fund notes is proposed to begin June 15,2019,however,the debt service repayment schedule
has not yet been determined.
Long-term debt at September 30, 2018 is composed of the following issues:
$31,885,000 Florida Infrastructure Sales Surtax Improvement and Refunding Revenue Bonds, Series
2014
• Type: General Government Revenue Bonds
• Dated: October 2014
• Final maturity: Year 2024
• Principal payment date: April 1
• Interest payment dates: April 1 and October 1
• Interest rate: 2.36%
• Amount outstanding at September 30th: $23,695,000
• 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 $25,690,144. For the
fiscal year, principal and interest paid was $4,279,988 and total pledged revenue was
$20,805,323.
• Purpose: To construct and acquire equipment and capital improvements.
• Call provisions: None
D-40
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 13 —LONGTERM DEBT (continued)
$19,500,540 Clean Water State Revolving Fund Construction Loan Agreement
• Type: General Government Revenue Notes
• Dated: April 2010
• Final maturity: Year 2030
• Principal payment date: March 15 and September 15
• Interest payment dates: March 15 and September 15
• Interest rate: 2.71%
• Amount outstanding at September 30th: $6,699,310
• 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 $7,842,289. For the fiscal year, principal and interest paid was $681,938 and total
pledged revenue was $44,129,756.
• Purpose: Refund temporary financing for wastewater capital improvements.
• Call provisions: None
Clean Water State Revolving Fund Construction Loan Agreement
• The State awarded a total of $127,200,000 (original award plus seven amendment awards) for
collection, transmission and treatment facilities under the State Revolving Fund loan program.
During the year ended September 30, 2018, loan draws of $20,624,861 were received and
accumulated interest of $3,034,654 capitalized resulting in an outstanding loan balance as of
September 30, 2018 of$130,858,646.
• Interest rate: various interest rates (2.35% - 3.07%) as of September 30, 2018
• 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
$23,797,799.
• Purpose: Financing for wastewater capital improvements.
• Call provisions: None
$16,065,000 Infrastructure Sales Surtax Refunding Revenue Bond, Series 2016
• Type: General Government Refunding Revenue Bond
• Dated: September 2016
• Final maturity: Year 2026
• Principal payment date: April 1
• Interest payment dates: April 1 and October 1
• Interest rate: 1.69%
D-41
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 13 —LONGTERM DEBT (continued)
• Amount outstanding at September 30th: $15,865,000
• Reserve requirement: None; MBIA insured.
• Revenue pledged: All of the One Cent Local Government Infrastructure Sales Surtax accruing to
Monroe County. The total principal and interest remaining to be paid is $17,520,778. For the
fiscal year, principal and interest paid was $369,809 and total pledged revenue was $20,805,323.
• Purpose: To construct and acquire equipment and capital improvements.
• Call provisions: None
$17,000,000 Mayfield Interlocal Agreement
• Type: Inter-local Agreement
• Dated: May 2015
• Final maturity: Year 2026
• Principal payment date: April 1
• Interest payment dates: April 1
• Interest rate: N/A
• Amount outstanding at September 30th: $15,250,000
• Reserve requirement: None
• Revenue pledged: One-Cent Local Government Infrastructure Sales Surtax. The total principal
remaining to be paid is $15,250,000. For the fiscal year, principal paid was $1,000,000 total
pledged revenue was $20,805,323.
• Purpose: Capital improvements with respect to Cudjoe Regional Wastewater Project
• Call provisions: None
• See Note 14 for additional information related to this agreement.
$40,000,000 Tax Exempt Master Revenue Note, Series 2018
• Type: Revolving Line of Credit
• Dated: February 2018
• Final maturity: Year 2022
• Principal payment date: August 1
• Interest payment dates: February 1
• Interest rate: 2.55072%
• Amount outstanding at September 30th: $40,000,000
• Reserve requirement: None
• Revenue pledged: Legally available non-ad valorem revenues. The total principal remaining to
be paid is $40,000,000. For the fiscal year, loan draws of $40,000,000 were received, interest
paid was $232,530 and total pledged revenue was $44,129,756.
• Purpose: To finance and refinance various capital improvements, repairs, and other extraordinary
expenditures resulting from Hurricane Irma damage.
• Call provisions: None
D-42
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 14—INTERLOCAL AGREEMENT EXPENSE
Administered by the Florida Department of Environmental Protection (FDEP), the Mayfield Grant is the
result of the State of Florida authorizing up to $200 million in grant funding to assist the Keys'
wastewater entities to complete central sewer and related projects.
In May 2015, Monroe County and Key Largo Wastewater Treatment District (KLWTD) entered into an
"interlocal agreement" (ILA) whereby KLWTD "assigned" its Mayfield grant allocation funding to
Monroe County in exchange for the County repaying those funds over a 10-year period.
As a result of the signed ILA in 2015 between Monroe County and KLWTD, FDEP sent Monroe
County an amendment to the Mayfield Grant in FY 2014-15 to add the $17 million reallocated funds to
the grant agreement between FDEP and Monroe County. The amendment: (1) provided the County an
additional $17 million in Mayfield grant funding; (2) reallocated the project budget and; (3) extended
the date of the completion of the project.
Similarly, during the 2016 legislative session, the Florida Legislature appropriated $5 million for water
quality projects under the Florida Keys Stewardship Act. Of the $5 million, $1.25 million was awarded
to the KLWTD and they subsequently voted to have Monroe County use its 2016 allotment. In turn,
FDEP sent Monroe County an amendment to the Mayfield Grant in FY 2016-17 to add the $1.25 million
reallocated fund to the grant agreement between FDEP and Monroe County. Monroe County entered
into the grant agreement with FDEP in FY 2016-17 and received the $1.25 million in FY 2017-18.
The ILA created transactions with two separate parts 1) a grant between FDEP and Monroe County and
2) a long-term liability payable to KLWTD from Monroe County. For part one, Monroe County
recorded grant revenue, which was a reimbursement for capital expenditures already incurred in the
Cudjoe Regional Wastewater fund. For part two, the County recorded a long-term liability on the
government-wide financial statements, which represents funding the County is obligated to pay
KLWTD as a result of the ILA. The offset to this liability was an interlocal agreement expense which
represents the value of Monroe County's "right" to receive the Mayfield Grant revenue forfeited by
KLWTD.
NOTE 15—INTERFUND BALANCES
The Board transferred cash of $2,500,000 at the end of FY 2017 to the Municipal Services District
Waste Fund for funding hurricane recovery efforts that continue to be on-going throughout FY 2018 and
into FY 2019.
Receivable Fund Payable Fund Amount
Municipal Services District Waste Fund General Fund $ 2,500,000
D-43
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 16—INTERFUND TRANSFERS
Interfund transfers at September 30, 2018 are as follows:
Transfers to General Fund from:
One Cent Infrastructure Surtax Fund $ 178,428
Municipal Service District—Waste 263,190
Card Sound Bridge Fund 149,693
Marathon Airport 50,153
Key West Airport 331,280
Internal Service Funds 579,520
Nonmajor Governmental Funds 2,780,447
Total Transfers to General Fund 4,332,711
Transfers to Fine& Forfeiture Fund from:
One Cent Infrastructure Surtax Fund 3,500,000
Internal Service Funds 190,277
Total Transfers to Fine & Forfeiture Fund 3,690,277
Transfers to Governmental Grant Fund from:
General Fund 194,806
Fine & Forfeiture Fund 19,234
One Cent Infrastructure Surtax Fund 21,334
Card Sound Bridge Fund 606,114
Nonmajor Governmental Funds 340,726
Total Transfers to General Fund 1,182,214
Transfers to Infrastructure Revenue Bonds Series 2014 Fund from:
Cudjoe Regional Wastewater Project Fund 16,000,000
Transfers to Cudjoe Regional Wastewater Project Fund from:
Nonmajor Governmental Funds 500,000
Transfers to Debt Service Fund from:
General Fund 65,000
One Cent Infrastructure Surtax Fund 9,013,660
Nonmajor Governmental Funds 681,938
Total Transfers to Debt Service Fund 9,760,598
Transfers to Nonmajor Governmental Funds from:
General Fund 4,029
One Cent Infrastructure Surtax Fund 500,000
Total Transfers to Nonmajor Governmental Funds 504,029
Transfers to Marathon Airport Fund from:
Key West Airport Fund for Passenger Facility Charges 18,181
Internal Service Funds 322,577
Total Transfers to Marathon Airport Fund 340,758
Total Interfund Transfers $ 36,310,587
D-44
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 16—INTERFUND TRANSFERS (continued)
The One Cent Infrastructure Surtax Fund, a major fund, transferred $8,600,000 to the Debt Service Fund
and $500,000 to the Big Coppitt Wastewater Project to repay long-term debt. Similarly, the Big Coppitt
Wastewater Project transferred $340,969 to the Debt Service Fund for repayment of debt for this project.
The Cudjoe Regional Wastewater Project received $500,000 from the Infrastructure Revenue Bonds
Series 2007 to repay funds that were previously borrowed.
The One Cent Infrastructure Surtax Fund transferred $1,500,000 to the Fine and Forfeiture Fund for the
purchase a Trauma Star helicopter and $2,000,000 to fund the building of the Sheriff's gun range.
The Cudjoe Regional Wastewater Project transferred $16,000,000 of the Revenue Bonds Series 2014
Fund to finance various capital projects.
Transfers to the Government Grants Fund of $1,182,214 represent funds needed to meet match
requirements including $606,114 transferred from the Card Sound Bridge fund to meet match
requirements for repairing and automating the toll bridge, $242,459 from the Road and Bridge fund to
meet the match requirements for the Garrison Bight bridge in Key West.
The Risk Management Fund transferred $155,007 to the Fine and Forfeiture Fund and $322,577 to the
Marathon Airport for the receipt of insurance proceeds received for damage caused by Hurricane Irma.
The Group Insurance Fund transferred $35,270 of its Wellness Funds to the Fine and Forfeiture Fund to
pay for new equipment at the Sheriff's gym.
Passenger Facilities Charges (PFC)receipts were transferred to the Marathon Airport from the Key West
Airport in the amount of $437,746 to fund approved projects by the Federal Aviation Administration
(FAA). Among the FAA-approved projects were airfield security improvements, designs and bids for
noise mitigation solutions, an environmental assessment at the Marathon airport, improvements to
runways, lights and fencing.
The remaining transfers are related to supporting the County's operations.
D-45
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 17—GOVERNMENTAL FUND BALANCE CLASSIFICATIONS
Fund Balances are presented in the following categories; non-spendable, restricted, committed, assigned
and unassigned (see Note 1 for a description of these categories). A detailed schedule of governmental
fund balances at September 30, 2018 is presented below:
One Cent Infrastructure
Fine& Governmental Infrastructure Revenue Bonds
General Forfeiture Grants Surtax Series 2014
Fund Balance:
Non-spendable:
Inventory $ 3,442 -
Total Non-spendable 3,442 - - - -
Restricted for:
Law Enforcement - 21,255,010 - - -
Fire&Ambulance - - - - -
Public Safety - - - - -
Physical Environment - - - - -
Transportation - - - - -
Housing Programs - - - - -
Tourist Development - - - - -
Human Services - - - - -
Libraries - - - - -
Library Donations - - - - -
Culture&Recreation - - - - -
Court Programs - - - - -
Comprehensive Planning - - - - -
Federal&State Grants - - 3,651,731 - -
Wastewater Projects - - - - -
Other Purposes - - - - -
Debt Service - - - - -
Capital Projects - - - 21,032,085 26,862,489
Total Restricted - 21,255,010 3,651,731 21,032,085 26,862,489
Committed to:
Disaster Recovery 10,000,000 - - - -
Physical Environment - - - - -
Wastewater Projects - - - - -
Beach Re-nourishment - - - - -
Total Committed 10,000,000 - - - -
Assigned to:
Other Purposes 404,452 - - - -
Fire&Ambulance - - - -
Subsequent Year Expenditures 10,437,455 - - -
Total Assigned 10,841,907 - - -
Unassigned 13,457,884 - - - -
Total Fund Balances $ 34,303,233 $ 21,255,010 $ 3,651,731 $ 21,032,085 $ 26,862,489
D-46
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 17—GOVERNMENTAL FUND BALANCE CLASSIFICATIONS (continued)
Cudjoe
Regional All Debt Nonmajor Total
Wastewater Service Governmental Governmental
Project Fund Funds Funds
Fund Balance:
Non-spendable:
Inventory $ - $ - $ - $ 3,442
Total Non-spendable - - - 3,442
Restricted for:
Law Enforcement - - 2,474,167 23,729,177
Fire&Ambulance - - 1,814,670 1,814,670
Public Safety - - 4,789,234 4,789,234
Physical Environment - - 3,787,288 3,787,288
Transportation - - 15,972,613 15,972,613
Housing Programs - - 3,283,415 3,283,415
Tourist Development - - 32,176,623 32,176,623
Human Services - - 58,551 58,551
Libraries - - 1,186,296 1,186,296
Library Donations - - 303,204 303,204
Culture&Recreation - - 1,467,794 1,467,794
Court Programs - - 6,104,000 6,104,000
Comprehensive Planning - - 4,988,665 4,988,665
Federal&State Grants - - - 3,651,731
Wastewater Projects 17,201,328 - 2,083,615 19,284,943
Other Purposes - - 490,073 490,073
Debt Service - 2,289,578 - 2,289,578
Capital Projects - - 4,768,762 52,663,336
Total Restricted 17,201,328 2,289,578 85,748,970 178,041,191
Committed to:
Disaster Recovery - - - 10,000,000
Physical Environment - - 2,739,043 2,739,043
Wastewater Projects - - 370,956 370,956
Beach Re-nourishment - - 215,055 215,055
Total Committed - - 3,325,054 13,325,054
Assigned to:
Other Purposes - - - 404,452
Fire&Ambulance - - 4,325,401 4,325,401
Subsequent Year Expenditures - - - 10,437,455
Total Assigned - - 4,325,401 15,167,308
Unassigned - - - 13,457,884
Total Fund Balances $ 17,201,328 $ 2,289,578 $ 93,399,425 $ 219,994,879
D-47
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 18—DEFICIT NET POSITION
During FY 2018, the Municipal Service District Waste enterprise fund experienced a change in Net
Position of ($17,818,224). This resulted in a negative Unrestricted Net Position of ($5,449,040). The
negative Net Position was due to the County spending over $24 million on debris collection and removal
as a result of damage caused by Hurricane Irma. The Federal Emergency Management Agency (FEMA)
guidelines do not allow the accrual of a receivable until a disaster project is obligated by FEMA. That
has yet to occur but the County expects to receive reimbursement from FEMA for these storm-related
expenditures. Without the storm activity, Unrestricted Net Assets would have been $13,077,916.
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 County established the Workers' Compensation, Group Insurance, and Risk
Management Funds, respectively, as internal service funds to account for and finance its uninsured risks
of loss.
Under these programs, the Workers' Compensation has self-insured coverage up to the first $500,000
per claim for regular employees. Workers' Compensation claims in excess of the self-insured coverage
of$500,000 are covered by an excess insurance policy. The Group Insurance Fund provides self-insured
excess claims. Risk Management has a $5,000,000 excess insurance policy for general liability claims
with a $200,000 self-insured retention and building property damage is covered for the actual value of
the building with a deductible of $50,000. Deductibles for windstorm and flood vary by location. The
Board purchases commercial insurance for claims in excess of coverage provided by the funds and for
all other risks of loss. Settled claims have not exceeded this commercial coverage in any of the past
three years.
All funds of the Board participate in the programs and make payments to the Workers' Compensation,
Group Insurance and Risk Management Funds based on management's estimates of the amounts needed
to pay prior and current year claims. The claims liabilities reported are based on the requirements of
Governmental Accounting Standards Board Statement No. 10, which requires that a liability for claims
be reported if information prior to the issuance of the financial statements indicates that it is probable
that a liability has been incurred at the date of the financial statements and the amount of the loss can be
reasonably estimated. These claim liabilities have not been discounted.
D-48
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 19—RISK MANAGEMENT (continued)
Changes in the claim liability amounts in fiscal years 2018 and 2017 were:
Workers' Group Risk
Compensation Insurance Management Total
Unpaid Claims at Sept. 30,2016 $ 425,109 $ 1,028,472 $ 246,780 $ 1,700,361
Incurred Claims
(Including IBNR) 1,928,729 16,186,908 1,905,615 20,021,252
Claim Payments (1,583,782) (16,059,964) (306,919) (17,950,665)
Unpaid Claims at Sept. 30,2017 770,056 1,155,416 1,845,476 3,770,948
Incurred Claims
(Including IBNR) 2,315,420 15,957,996 2,125,637 20,399,053
Claim Payments (1,820,654) (15,948,521) (194,905) (17,964,080)
Unpaid Claims at Sept. 30,2018 $ 1,264,822 $ 1,164,891 $ 3,776,208 $ 6,205,921
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 provide for these claims when a loss is probable and a loss becomes fixed or determinable
in amount.
As a result of regulations adopted to protect the environment and manage growth, the Board is involved
in a handful of lawsuits. Most claims have been defeated to date, but two merit mention. In both of these
cases, the County and State of Florida are co-defendants and any amounts awarded are expected to be
apportioned between the parties.
In one regulatory takings claim, the trial court found the County and the State of Florida to be liable.
While the County expects to overturn the liability finding upon appeal, a valuation of the property was
necessary in order to ripen the appeal. By stipulation, the parties agreed that the property at the time of
the taking was valued at $175,000. After calculating pre judgment interest due on that value, the Court
entered a final judgment in the amount of $347,475 as of December 31, 2016 jointly and severally
against the County and the State of Florida. Under the final judgment, post judgment interest will accrue
at approximately $22.77 per day, depending on annual adjustments to the statutory interest rate until that
judgment is either satisfied or vacated. An award of attorney fees and costs would be in addition to the
amounts in the judgment. It is reasonably estimated that, if the final judgment survives appeal, the trial
court would enter an award of fees and costs for approximately $250,000, though the Plaintiffs attorney
has not disclosed the amount of his claim at this juncture. In March 2017, the County and State appealed
this final judgment; resolution of that appeal is expected prior to the end of FY 2019. The Board has not
recorded any liability for this claim in its financial statements due to the expectation that the liability
finding and thus the final judgment will be overturned upon appeal.
D-49
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 20—LITIGATION AND CLAIMS (continued)
In the second regulatory takings claim, the liability has been judicially determined against the County
and State of Florida. In 2016, a jury valued the property at $285,500 as of the date of taking. After
calculating pre judgment interest due on that value, the Court entered a final judgment in the amount of
$480,512 as of June 1, 2016 jointly and severally against the County and the State of Florida. Under the
final judgment, post judgment interest will accrue at approximately $64.64 per day, depending on annual
adjustment to the statutory interest rate until that judgment is either satisfied or vacated. An award of
attorney fees and costs would be in addition to the amounts in the judgment. An appellate court affirmed
the decision of the trial court in 2018 and denied a motion for rehearing on February 1, 2019. The
property owner's options for seeking further review are extremely limited. Due to the expected 50-50
apportionment of the liability with the state, the Board has recorded a liability of$775,000 for this fiscal
year.
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, subject to certain
conditions.
D-50
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2018
NOTE 22—RESTATEMENTS—GASB STATEMENT NO. 75
The restatements for the Business-Type Activities and Internal Service Funds resulted from the
implementation of GASB Statement No. 75, Accounting and Financial Reporting for Postemployment
Benefits Other than Pensions, which required the County to retroactively record the total
postemployment benefit liability. These restatements resulted in an increase/(decrease) of the beginning
net position of the following funds:
Municipal Service District Waste Fund $ 12,722
Card Sound Bridge Fund 96,208
Key West Airport Fund (219,402)
Marathon Airport Fund 46,585
Internal Service Funds 36,729
NOTE 23 —RESTATEMENT—KEY WEST AIRPORT FUND
The beginning Net Position of the Key West Airport Fund combined the October 1, 2017 Net Position of
the Key West Airport Fund of$60,682,600 with the October 1, 2017 Net Position of the PFC Operations
& Restrictions Fund of$10,042,063 to present both funds as a single fund, Key West Airport Fund, for
financial statement purposes. This change in presentation was made because the enterprise activities of
the PFC Operations & Restrictions Fund are an integral part of the enterprise activities of the Key West
Airport.
NOTE 24—SUBSEQUENT EVENTS
On September 10, 2017, Monroe County sustained catastrophic damage county-wide due to a direct hit
from Hurricane Irma, a Category 4 storm. The storm resulted in substantial expenditures on protective
and security measures, debris clean-up and repairs to county buildings and facilities. Monroe County
was notified in December 2018 that $6.7 million of expenditures related to Hurricane Irma were denied
and de-obligated for reimbursement by the Federal Emergency Management Agency (FEMA). Until the
County exhausts its appeals, the fiscal impact on the County's operations will not be known.
Management has evaluated subsequent events through March 18, 2019, in connection with the
preparation of these financial statements, which is the date the financial statements were available to be
issued.
D-51
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MONROE COUNTY,FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF THE BOARD'S PROPORTIONATE SHARE OF NET PENSION LIABILITY
FLORIDA RETIREMENT SYSTEM PENSION PLAN
LAST TEN FISCAL YEARS*
2018 2017 2016 2015 2014
Board's proportion of the net pension liability 0.129013726% 0.110416195% 0.107471975% 0.103158114% 0.104891393%
Board's proportionate share of the net pension liability $ 38,859,603 $ 32,660,370 $ 27,136,758 $ 13,324,254 $ 6,399,917
Board's covered payroll $ 31,178,120 $ 31,567,083 $ 29,517,681 $ 28,496,269 $ 27,856,637
Board's proportionate share of the net pension liability as a
percentage of its covered payroll 124.64% 103.46% 91.93% 46.76% 22.97%
Plan fiduciary net position as a percentage of the total pension liability 84.26% 83.89% 84.88% 92.00% 96.09%
*The amounts presented for each fiscal year were determined as of June 30.
No data is available for the previous five years.
E-1
MONROE COUNTY,FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF THE BOARD'S CONTRIBUTIONS
FLORIDA RETIREMENT SYSTEM PENSION PLAN
LAST TEN FISCAL YEARS"
2018 2017 2016 2015 2014
Contractually required contribution $ 3,545,505 $ 3,169,065 $ 2,620,875 $ 2,515,082 $ 2,297,567
Contributions in relation to the contractually required contributions (3,545,505) (3,169,065) (2,620,875) (2,515,082) (2,297,567)
Contribution deficiency(excess) $ - $ - $ - $ - $ -
Board's covered payroll $ 31,178,120 $ 26,245,139 $ 29,517,681 $ 29,097,726 $ 28,100,694
Contributions as a percentage of covered payroll 11.37% 12.07% 8.88% 8.64% 8.18%
The amounts presented for each fiscal year were determined as of September 30.
No data is available for the previous five years.
E-2
MONROE COUNTY,FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF THE BOARD'S PROPORTIONATE SHARE OF NET PENSION LIABILITY
HEALTH INSURANCE SUBSIDY PROGRAM
LAST TEN FISCAL YEARS*
2018 2017 2016 2015 2014
Board's proportion of the net pension liability 0.113326095% 0.098952229% 0.095343347% 0.093902398% 0.093727524%
Board's proportionate share of the net pension liability $ 11,994,561 $ 10,580,429 $ 11,111,872 $ 9,576,567 $ 8,763,852
Board's covered payroll $ 31,178,120 $ 31,567,083 $ 29,517,681 $ 28,496,269 $ 27,856,637
Board's proportionate share of the net pension liability as a
percentage of its covered payroll 38.47% 33.52% 37.64% 33.61% 31.46%
Plan fiduciary net position as a percentage of the total pension liability 2.15% 1.64% 0.97% 0.50% 0.99%
*The amounts presented for each fiscal year were determined as of June 30.
No data is available for the previous five years.
E-3
MONROE COUNTY,FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF THE BOARD'S CONTRIBUTIONS
HEALTH INSURANCE SUBSIDY PROGRAM
LAST TEN FISCAL YEARS"
2018 2017 2016 2015 2014
Contractually required contribution $ 628,246 $ 435,699 $ 488,695 $ 358,953 $ 321,079
Contributions in relation to the contractually required contributions (628,246) (435,699) (488,695) (358,953) (321,079)
Contribution deficiency(excess) $ - $ - $ - $ - $ -
Board's covered payroll $ 31,178,120 $ 26,245,139 $ 29,517,681 $ 29,097,726 $ 28,100,964
Contributions as a percentage of covered payroll 2.02% 1.66% 1.66% 1.23% 1.14%
The amounts presented for each fiscal year were determined as of September 30.
No data is available for the previous five years.
E-4
MONROE COUNTY,FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULES OF REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULES OF CHANGES IN THE BOARD'S NET PENSION LIABILITY AND RELATED RATIOS
PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES
LAST TEN FISCAL YEARS*
(Dollar amounts in thousands)
2018 2017 2016 2015 2014
Total pension liability
Service cost $ 12,761 $ 22,937 $ 16,394 $ 16,455 $ 18,434
Interest 9,146 9,146 8,895 8,054 12,219
Differences between expected and actual experience 182 (39,039) 33,108 89,397 (9,696)
Benefit payments,including refunds of employee contributions (32,265) (32,265) (28,365) (30,855) (25,575)
Net change in total pension liability (10,176) (39,221) 30,032 83,051 (4,618)
Total pension liability-beginning 878,147 917,368 887,336 804,285 808,903
Total pension liability-ending $ 867,971 $ 878,147 $ 917,368 $ 887,336 $ 804,285
Covered payroll N/A N/A N/A N/A N/A
County's total pension liability as a percentage of covered payroll N/A N/A N/A N/A N/A
Notes to Schedule:
`This schedule is presented to illustrate the requirement to show information for 10 years.However,until a full 10-year trend is compiled,governments should present
information for those years for which information is available.
There are no assets accumulated in a trust,as defined by Statement of Governmental Accounting Standards No.73,to pay benefits.
E-5
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
REQUIRED SUPPLEMENTARY INFORMATION
YEAR ENDED SEPTEMBER 30,2018
TEN YEAR SCHEDULE OF EMPLOYER CONTRIBUTIONS
PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES
Year Ending December 31, 2017 2016 2015 2014
Actuarially determined contribution $ 39,899 $ 39,899 $ 30,304 $ 28,575
Contributions in relation to the actuarially
determined contribution 39,899 39,899 30,304 28,575
Contribution deficiency (excess) $ - $ - $ - $ -
Covered payroll $ - $ - $ - $ -
Contributions as a percentage of covered
payroll N/A N/A N/A N/A
Notes to Schedule
Valuation Date:
Actuarially determined contribution rates are calculated as of January 1, which is nine months prior to the end of the
fiscal year in which contributions are reported.
Methods and Assumptions used to determine contribution rates:
Inflation -No increase as benefits are based on a flat amount per year of service
Salary Increases-N/A
Investment rate of return - 1.0% net of investment expenses, including inflation
Retirement age- N/A
Mortality-N/A
E-6
2013 2012 2011 2010 2009 2008
$ 36,788 $ 28,145 $ 30,379 $ 28,914 $ 30,791 $ 28,477
36,788 28,145 30,379 28,914 30,791 28,477
N/A N/A N/A N/A N/A N/A
E-7
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULES OF REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULES OF CHANGES IN THE BOARD'S TOTAL OPEB LIABILITY AND RELATED RATIOS
LAST TEN FISCAL YEARS*
2018
Total OPEB liability
Service cost $ 1,067,439
Interest 1,695,315
Changes of benefit terms (17,266,329)
Changes in assumptions or other inputs (1,964,239)
Benefit payments (868,434)
Net change in total OPEB liability (17,336,248)
Total OPEB liability-Beginning of Year 39,922,886
Total OPEB liability-End of Year $ 22,586,638
Covered-employee payroll $ 31,420,000
Total OPEB liability as a percentage of covered-employee payroll 71.89%
Notes to Schedule:
No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement No. 75.
Effective January 1,2018,the Board implemented cost-saving benefit changes for its other postemployment benefit plan.These included
premium rates that are calculated based on expected retiree costs for Medicare retirees and lower premium subsidies for eligible retirees.
Changes include updating the mortality to be a generational table with updated projection scales as published by the Society of Actuaries,
an interest rate using 20 year bond rates, and a change in Actuarial Cost methodology to the Entry Age Normal method.
*This schedule should present information for the last ten years. However, until a full ten years of information can be compiled, information
will be presented for as many years as are available.
E-8
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MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES
IN FUND BALANCES - BUDGET AND ACTUAL
ONE CENT INFRASTRUCTURE SURTAX CAPITAL PROJECT FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 21,500,000 $ 21,500,000 $ 20,805,323 $ (694,677)
Investment Income 50,000 50,000 176,526 126,526
Miscellaneous - - 526,305 526,305
Total Revenues 21,550,000 21,550,000 21,508,154 (41,846)
EXPENDITURES:
Current:
Capital Outlay:
General Government 4,604,542 5,119,139 3,597,826 1,521,313
Public Safety 250,000 852,500 784,122 68,378
Physical Environment 1,414,455 944,480 107,378 837,102
Transportation: Const. Mgmt. 8,665,304 9,820,523 3,465,849 6,354,674
Human Services - 25,000 - 25,000
Culture and Recreation 1,000,000 155,000 - 155,000
Total Capital Outlay Expenditures 15,934,301 16,916,642 7,955,175 8,961,467
Excess/Deficiency of Revenues
Over(Under) Expenditures 5,615,699 4,633,358 13,552,979 8,919,621
Other Financing Sources (Uses):
Reserve for Contingencies (500,000) (32,322) - 32,322
Reserve for Cash Balance (1,962,346) (565,561) - 565,561
Transfers to Other Funds (13,445,475) (16,957,975) (13,213,422) 3,744,553
Total Other Financing Sources (Uses) (15,907,821) (17,555,858) (13,213,422) 4,342,436
Net Change in Fund Balances (10,292,122) (12,922,500) 339,557 13,262,057
Fund Balances, October 1 10,292,122 12,922,500 20,692,528 7,770,028
Fund Balances, September 30 $ - $ - $ 21,032,085 $ 21,032,085
F-1
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
INFRASTRUCTURE REVENUE BONDS SERIES 2014 CAPITAL PROJECTS FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ - $ - $ 285,250 $ 285,250
Total Revenues - - 285,250 285,250
EXPENDITURES:
Capital Projects - General Government 2,727,550 650,000 549,610 100,390
Capital Projects - Culture and Recreation 5,493,290 5,890,000 655,146 5,234,854
Capital Projects - Buildings 3,780,000 4,833,000 1,148,207 3,684,793
Total Expenditures 12,000,840 11,373,000 2,352,963 9,020,037
Excess/Deficiency of Revenues
Over (Under) Expenditures (12,000,840) (11,373,000) (2,067,713) 9,305,287
Other Financing Sources (Uses):
Reserve for Contingencies - (1,000,000) - 1,000,000
Reserve for Cash Balance (3,999,160) (3,627,000) - 3,627,000
Transfers from Other Funds 16,000,000 16,000,000 16,000,000 -
Total Other Financing Sources (Uses) 12,000,840 11,373,000 16,000,000 4,627,000
Net Change in Fund Balances - - 13,932,287 13,932,287
Fund Balances, October 1 - - 12,930,202 12,930,202
Fund Balances, September 30 $ - $ - $ 26,862,489 $ 26,862,489
F-2
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
CUDJOE REGIONAL WASTEWATER CAPITAL PROJECT FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 2,275,400 $ 2,275,400 $ 1,742,474 $ (532,926)
Intergovernmental - - - -
Investment Income - - 876,567 876,567
Miscellaneous - - 128,253 128,253
Total Revenues 2,275,400 2,275,400 2,747,294 471,894
EXPENDITURES:
Current:
Capital Outlay:
Physical Environment:
Cudjoe Regional Wastewater Project
Loan Funding 10,000,000 10,000,000 5,200,372 4,799,628
Special Assessment Refunds 25,000 25,000 - 25,000
Special Assessments 194,979 194,979 142,145 52,834
Total Physical Environment 10,219,979 10,219,979 5,342,517 4,877,462
Total Capital Outlay Expenditures 10,219,979 10,219,979 5,342,517 4,877,462
Excess/Deficiency of Revenues
Over(Under) Expenditures (7,944,579) (7,944,579) (2,595,223) 5,349,356
Other Financing Sources (Uses):
Reserve for Cash Balance (4,146,935) (4,146,935) - 4,146,935
Issuance of Debt 12,455,276 12,455,276 16,494,491 4,039,215
Transfers from Other Funds 3,000,000 3,000,000 500,000 (2,500,000)
Transfers to Other Funds (16,000,000) (16,000,000) (16,000,000) -
Transfers to/from Consititutional Officers - - 3,056 3,056
Total Other Financing Sources (Uses) (4,691,659) (4,691,659) 997,547 5,689,206
Net Change in Fund Balances (12,636,238) (12,636,238) (1,597,676) 11,038,562
Fund Balances, October 1 12,636,238 12,636,238 18,799,004 6,162,766
Fund Balances, September 30 $ - $ - $ 17,201,328 $ 17,201,328
F-3
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MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
DEBT SERVICE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ 5,100 $ 5,100 $ 72,250 $ 67,150
Total Revenues 5,100 5,100 72,250 67,150
EXPENDITURES:
Current:
Debt Service:
2007 Revenue Bonds
Principal 3,445,000 3,445,000 3,445,000 -
Interest 172,250 171,950 86,125 85,825
Other Debt Service Costs - 300 300 -
Total 2007 Revenue Bonds 3,617,250 3,617,250 3,531,425 85,825
Clean Water SRF Loan
Principal 4,624,369 4,637,333 490,397 4,146,936
Interest 204,566 191,602 191,541 61
Total Clean Water SRF Loan 4,828,935 4,828,935 681,938 4,146,997
2014 Revenue Bonds
Principal 3,635,000 3,635,000 3,635,000 -
Interest 644,988 644,988 644,988 -
Total 2014 Revenue Bonds 4,279,988 4,279,988 4,279,988 -
Mayfield Loan
Principal 1,000,000 1,000,000 1,000,000 -
Total Mayfield Loan 1,000,000 1,000,000 1,000,000 -
2016 Revenue Bonds
Principal 100,000 100,000 100,000 -
Interest 269,809 269,809 269,808 1
Other Debt Service Costs - - - -
Total 2016 Revenue Bonds 369,809 369,809 369,808 1
(Continued)
F-4
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL(CONTINUED)
DEBT SERVICE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
2018 PNC Line of Credit
Interest - 232,530 232,530 -
Other Debt Service Costs - 65,000 65,000 -
Total 2018 PNC Line of Credit - 297,530 297,530 -
Total Expenditures 14,095,982 14,393,512 10,160,689 4,232,823
Excess/Deficiency of Revenues
Over(Under) Expenditures (14,090,882) (14,388,412) (10,088,439) 4,299,973
Other Financing Sources (Uses):
Reserve for Contingencies (1,000,000) (767,470) - 767,470
Reserve for Cash Balance (1,000,000) (1,000,000) - 1,000,000
Transfers from Other Funds 14,095,982 14,160,982 9,760,598 (4,400,384)
Total Other Financing Sources (Uses) 12,095,982 12,393,512 9,760,598 (2,632,914)
Net Change in Fund Balances (1,994,900) (1,994,900) (327,841) 1,667,059
Fund Balances, October 1 1,994,900 1,994,900 2,617,419 622,519
Fund Balances, September 30 $ - $ - $ 2,289,578 $ 2,289,578
F-5
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30,2018
SPECIAL
Tourist Tourist
Affordable Development Development Tourist
Housing All Districts Admin & Promo Development
Programs Two Cent Two Cent District One
ASSETS
Cash and Cash Equivalents $ 49,013 $ 680,083 $ 1,039,394 $ 1,600,785
Investments 345,729 3,864,206 4,053,067 9,613,648
Accounts Receivable, Net - - - -
Assessments Receivable - - - -
Due from Other Governmental Units - - 1,548 -
Due from Constitutional Officers - 705,311 1,449,016 1,202,509
Mortgages/Notes Receivable - - - -
Allowance for Mortgages/Notes Receivable - - - -
Interest Receivable 876 10,779 15,439 18,676
Total Assets $ 395,618 $ 5,260,379 $ 6,558,464 $ 12,435,618
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable $ - $ 384,476 $ 306,088 $ 126,395
Retainage Payable - - - -
Accrued Wages and Benefits Payable - - 2,718 3,930
Due to Other Governmental Units - - - 115,984
Due to Constitutional Officers - - - -
Other Current Liabilities - - 1,103 -
Deposits in Escrow - - - -
Total Liabilities - 384,476 309,909 246,309
Deferred Inflows of Resources:
Unavailable Revenues - - - -
Total Deferred Inflows of Resources - - - -
Fund Balances:
Nonspendable - - - -
Restricted 395,618 4,875,903 6,248,555 11,974,254
Committed - - - 215,055
Assigned - - - -
Unassigned - - - -
Total Fund Balances 395,618 4,875,903 6,248,555 12,189,309
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 395,618 $ 5,260,379 $ 6,558,464 $ 12,435,618
G-1
REVENUE FUNDS
Tourist Tourist Tourist Tourist Impact Fees,
Development Development Development Development Impact Fees, Parks, and
District Two District Three District Four District Five Roadways Recreation
$ 99,111 $ 469,975 $ 280,479 $ 212,994 $ 207,476 $ 94,794
1,010,749 2,617,531 1,513,428 2,067,931 1,319,653 600,273
146,571 305,060 200,569 299,619 - -
1,758 4,744 3,199 3,531 5,651 1,326
$ 1,258,189 $ 3,397,310 $ 1,997,675 $ 2,584,075 $ 1,532,780 $ 696,393
$ 13,796 $ 24,901 $ 37,979 $ 66,072 $ - $ -
2,583 - - 3,225 - -
29 - 10,753 - - -
16,408 24,901 48,732 69,297 - -
1,241,781 3,372,409 1,948,943 2,514,778 1,532,780 696,393
1,241,781 3,372,409 1,948,943 2,514,778 1,532,780 696,393
$ 1,258,189 $ 3,397,310 $ 1,997,675 $ 2,584,075 $ 1,532,780 $ 696,393
(Continued)
G-2
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING BALANCE SHEET(CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30,2018
SPECIAL
Impact Fees, Impact Fees, Impact Fees, Impact Fees,
Libraries Solid Waste Police Facilities Fire & EMS
ASSETS
Cash and Cash Equivalents $ 145,506 $ 12,661 $ 16,005 $ 16,506
Investments 1,027,030 89,497 112,950 95,111
Accounts Receivable, Net - - - -
Assessments Receivable - - - -
Due from Other Governmental Units 11,375 - - -
Due from Constitutional Officers - - - -
Mortgages/Notes Receivable - - - -
Allowance for Mortgages/Notes Receivable - - - -
Interest Receivable 2,385 189 193 171
Total Assets $ 1,186,296 $ 102,347 $ 129,148 $ 111,788
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable $ - $ - $ - $ -
Retainage Payable - - - -
Accrued Wages and Benefits Payable - - - -
Due to Other Governmental Units - - - -
Due to Constitutional Officers - - - -
Other Current Liabilities - - - -
Deposits in Escrow - - - -
Total Liabilities - - - -
Deferred Inflows of Resources:
Unavailable Revenues - - - -
Deferred Inflows of Resources - - - -
Fund Balances:
Nonspendable - - - -
Restricted 1,186,296 102,347 129,148 111,788
Committed - - - -
Assigned - - - -
Unassigned - - - -
Total Fund Balances 1,186,296 102,347 129,148 111,788
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 1,186,296 $ 102,347 $ 129,148 $ 111,788
G-3
REVENUE FUNDS
Impact Fees, Fire &Amb Unincorp. Unincorp.
Employee District#1, Area Service Area Service 911
Fair Share Lower and District, Dist., Planning Municipal Enhancement
Housing Middle Keys Parks& Rec. Bldg. &Zoning Policing Fees
$ 5,489 $ 604,032 $ 290,856 $ 563,581 $ 1,064,171 $ 37,021
38,704 3,845,137 544,839 8,822,048 1,062,938 -
- 28,553 - - - -
- - - 134,561 - -
- 204,178 27,776 5,251 - -
561 14,656 2,085 20,434 3,709 -
$ 44,754 $ 4,696,556 $ 865,556 $ 9,545,875 $ 2,130,818 $ 37,021
$ - $ 43,798 $ 49,449 $ 93,480 $ - $ -
- 325,979 23,777 184,030 - -
- 1,378 13,485 1,751 389,616 -
- - - 1,920 - 36,827
- - 7,444 184,421 - -
- 371,155 94,155 465,602 389,616 36,827
44,754 - 771,401 9,080,273 1,741,202 194
- 4,325,401 - - - -
44,754 4,325,401 771,401 9,080,273 1,741,202 194
$ 44,754 $ 4,696,556 $ 865,556 $ 9,545,875 $ 2,130,818 $ 37,021
(Continued)
G-4
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING BALANCE SHEET(CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30,2018
SPECIAL
Duck Key Local Miscellaneous
Security Housing Boating Special
District Assistance Improvement Revenue
ASSETS
Cash and Cash Equivalents $ 36,388 $ 368,187 $ 378,824 $ 340,515
Investments 291,097 2,488,493 2,723,745 2,751,614
Accounts Receivable, Net - - - -
Assessments Receivable - - - -
Due from Other Governmental Units - - - -
Due from Constitutional Officers 4 - 47,058 44,922
Mortgages/Notes Receivable - 8,170,603 - -
Allowance for Mortgages/Notes Receivable - (8,170,603) - -
Interest Receivable 856 3,989 6,068 6,223
Total Assets $ 328,345 $ 2,860,669 $ 3,155,695 $ 3,143,274
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable $ 6,230 $ 17,626 $ 21,649 $ 20,730
Retainage Payable - - - -
Accrued Wages and Benefits Payable - - 2,411 -
Due to Other Governmental Units - - - 13,780
Due to Constitutional Officers - - - 29,558
Other Current Liabilities - - - -
Deposits in Escrow - - - -
Total Liabilities 6,230 17,626 24,060 64,068
Deferred Inflows of Resources:
Unavailable Revenues - - - -
Deferred Inflows of Resources - - - -
Fund Balances:
Nonspendable - - - -
Restricted 322,115 2,843,043 3,131,635 3,079,206
Committed - - - -
Assigned - - - -
Unassigned - - - -
Total Fund Balances 322,115 2,843,043 3,131,635 3,079,206
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 328,345 $ 2,860,669 $ 3,155,695 $ 3,143,274
G-5
REVENUE FUNDS
Law Court Drug Marathon
Environmental Enforcement Facility Abuse Municipal
Restoration Trust Fees Trust Service
$ 362,520 $ 94,825 $ 480,548 $ 6,331 $ 321
2,388,223 522,481 3,308,391 53,357 2,266
- 3 32,430 1,544 8
4,662 1,314 6,815 251 6
$ 2,755,405 $ 618,623 $ 3,828,184 $ 61,483 $ 2,601
$ 11,322 $ - $ 1,779 $ 2,932 $ -
5,040 - 1,543 - -
- 15,000 - - -
16,362 15,000 3,322 2,932 -
- 603,623 3,824,862 58,551 2,601
2,739,043 - - -
2,739,043 603,623 3,824,862 58,551 2,601
$ 2,755,405 $ 618,623 $ 3,828,184 $ 61,483 $ 2,601
(Continued)
G-6
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING BALANCE SHEET(CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30,2018
SPECIAL
Bay Point Big Coppitt Key Largo
Wastewater Wastewater Wastewater Stock Island
MSTU MSTU MSTU Wastewater
ASSETS
Cash and Cash Equivalents $ 5,651 $ 76 $ 959 $ 125,148
Investments 40,449 534 6,767 879,184
Accounts Receivable, Net - - - -
Assessments Receivable - - - 1,985,945
Due from Other Governmental Units - - - -
Due from Constitutional Officers - - 16 1,019
Mortgages/Notes Receivable - - - -
Allowance for Mortgages/Notes Receivable - - - -
Interest Receivable 108 2 17 1,819
Total Assets $ 46,208 $ 612 $ 7,759 $ 2,993,115
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable $ - $ - $ - $ 125,000
Retainage Payable - - - -
Accrued Wages and Benefits Payable - - - 120
Due to Other Governmental Units - - - -
Due to Constitutional Officers - - - -
Other Current Liabilities - - - -
Deposits in Escrow - - - -
Total Liabilities - - - 125,120
Deferred Inflows of Resources:
Unavailable Revenues - - - 1,963,538
Deferred Inflows of Resources - - - 1,963,538
Fund Balances:
Nonspendable - - - -
Restricted - - - 904,457
Committed 46,208 612 7,759 -
Assigned - - - -
Unassigned - - - -
Total Fund Balances 46,208 612 7,759 904,457
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 46,208 $ 612 $ 7,759 $ 2,993,115
G-7
REVENUE FUNDS
Long Key,
Conch Key Layton Duck Key Building Road and
MSTU MSTU MSTU Fund Bridge
$ 60 $ 31,132 $ 7,279 $ 540,453 $ 1,881,331
424 226,000 51,344 2,465,161 12,468,884
- - - - 558,133
1 339 140 6,729 27,146
$ 485 $ 257,471 $ 58,763 $ 3,012,343 $ 14,935,494
$ - $ - $ - $ 210,913 $ 173,209
- - - - 203,346
- 342 - 136,174 74,746
- - - 34,839 44,134
- - - - 226
- - - 8,110 -
- 342 - 390,036 495,661
- - - 2,622,307 14,439,833
485 257,129 58,763 - -
485 257,129 58,763 2,622,307 14,439,833
$ 485 $ 257,471 $ 58,763 $ 3,012,343 $ 14,935,494
(Continued)
G-8
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING BALANCE SHEET(CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30,2018
CAPITAL
Total Nonmajor Clerk's Infrastructure
Special Rev Revenue Revenue Bonds
Funds Note Series 2007
ASSETS
Cash and Cash Equivalents $ 12,150,480 $ 25,976 $ 531,164
Investments 73,312,883 80,061 -
Accounts Receivable, Net 28,553 - -
Assessments Receivable 1,985,945 - -
Due from Other Governmental Units 705,617 - -
Due from Constitutional Officers 4,672,864 - -
Mortgages/Notes Receivable 8,170,603 - -
Allowance for Mortgages/Notes Receivable (8,170,603) - -
Interest Receivable 176,847 218 -
Total Assets $ 93,033,189 $ 106,255 $ 531,164
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable $ 1,737,824 $ - $ 228,899
Retainage Payable 203,346 - 24,667
Accrued Wages and Benefits Payable 766,618 - -
Due to Other Governmental Units 640,749 - -
Due to Constitutional Officers 68,305 - -
Other Current Liabilities 1,329 - -
Deposits in Escrow 199,975 - -
Total Liabilities 3,618,146 - 253,566
Deferred Inflows of Resources:
Unavailable Revenues 1,963,538 - -
Deferred Inflows of Resources 1,963,538 - -
Fund Balances:
Nonspendable - - -
Restricted 79,801,050 106,255 277,598
Committed 3,325,054 - -
Assigned 4,325,401 - -
Unassigned - - -
Total Fund Balances 87,451,505 106,255 277,598
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 93,033,189 $ 106,255 $ 531,164
G-9
PROJECT FUNDS
Total
Big Coppitt Duck Key Long Key Land Nonmajor
Wastewater Wastewater Wastewater Acquisition Governmental
Project Project Project Fund Funds
$ 38,400 $ 38,951 $ 37,772 $ 544,002 $ 13,366,745
75,304 225,456 266,447 3,864,167 77,824,318
- - - - 28,553
2,233,715 495,479 - - 4,715,139
- - 429,468 - 1,135,085
856 691 - - 4,674,411
- - - - 8,170,603
- - - - (8,170,603)
4,319 3,393 375 4,411 189,563
$ 2,352,594 $ 763,970 $ 734,062 $ 4,412,580 $ 101,933,814
$ - $ - $ - $ 27,671 $ 1,994,394
- - - - 228,013
137 103 - - 766,858
- - - - 640,749
- - - - 68,305
- - - - 1,329
- - - - 199,975
137 103 - 27,671 3,899,623
2,185,849 485,379 - - 4,634,766
2,185,849 485,379 - - 4,634,766
166,608 278,488 734,062 4,384,909 85,748,970
- - - - 3,325,054
- - - - 4,325,401
166,608 278,488 734,062 4,384,909 93,399,425
$ 2,352,594 $ 763,970 $ 734,062 $ 4,412,580 $ 101,933,814
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, 2018
SPECIAL
Tourist Tourist
Affordable Development Development Tourist
Housing All Districts Admin & Promo Development
Programs Two Cent Two Cent District One
Revenues:
Taxes $ - $ 5,332,289 $ 11,049,550 $ 9,653,986
Licenses and Permits - - - -
Intergovernmental - - - -
Charges for Services - - - -
Fines and Forfeitures - - - -
Investment Income 3,405 42,310 40,412 114,756
Miscellaneous - - - -
Total Revenues 3,405 5,374,599 11,089,962 9,768,742
Expenditures:
Current:
General Government - - - -
Public Safety - - - -
Physical Environment - - - -
Transportation - - - -
Economic Environment - 51818,905 13,124,848 9,897,985
Human Services - - - -
Culture and Recreation - - - -
Court Related - - - -
Capital Projects - - - -
Total Expenditures - 5,818,905 13,124,848 9,897,985
Excess/Deficiency of Revenues
Over(Under) Expenditures 3,405 (444,306) (2,034,886) (129,243)
Other Financing Sources (Uses):
Transfers from Other Funds - - - -
Transfers to Other Funds - (58,182) (39,610) (59,799)
Transfers from Constitutional Officers - 58,249 108,177 98,942
Total Other Financing Sources (Uses) - 67 68,567 39,143
Net Change in Fund Balances 3,405 (444,239) (1,966,319) (90,100)
Fund Balances-October 1 392,213 5,320,142 8,214,874 12,279,409
Fund Balances-September 30 $ 395,618 $ 4,875,903 $ 6,248,555 $ 12,189,309
G-11
REVENUE FUNDS
Tourist Tourist Tourist Tourist Impact Fees,
Development Development Development Development Impact Fees, Parks, and
District Two District Three District Four District Five Roadways Recreation
$ 1,033,066 $ 2,125,104 $ 1,223,602 $ 2,346,082 $ - $ -
- - - - 83,884 42,160
10,707 30,989 16,357 21,431 25,082 51983
1,043,773 2,156,093 1,239,959 2,367,513 108,966 48,143
766,455 2,328,099 1,261,637 1,720,907 - -
766,455 2,328,099 1,261,637 1,720,907 - -
277,318 (172,006) (21,678) 646,606 108,966 48,143
(23,290) (16,356) (12,023) (37,424) - -
10,135 21,569 12,182 23,599 - -
(13,155) 5,213 159 (13,825) - -
264,163 (166,793) (21,519) 632,781 108,966 48,143
977,618 3,539,202 1,970,462 1,881,997 1,423,814 648,250
$ 1,241,781 $ 3,372,409 $ 1,948,943 $ 2,514,778 $ 1,532,780 $ 696,393
(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, 2018
SPECIAL
Impact Fees, Impact Fees, Impact Fees, Impact Fees,
Libraries Solid Waste Police Facilities Fire and EMS
Revenues:
Taxes $ - $ - $ - $ -
Licenses and Permits 38,331 1,920 3,285 13,581
Intergovernmental - - - -
Charges for Services - - - -
Fines and Forfeitures - - - -
Investment Income 10,146 893 1,152 961
Miscellaneous - - - -
Total Revenues 48,477 2,813 4,437 14,542
Expenditures:
Current:
General Government - - - -
Public Safety - - - -
Physical Environment - - - -
Transportation - - - -
Economic Environment - - - -
Human Services - - - -
Culture and Recreation - - - -
Court Related - - - -
Capital Projects - - - -
Total Expenditures - - - -
Excess/Deficiency of Revenues
Over(Under) Expenditures 48,477 2,813 4,437 14,542
Other Financing Sources (Uses):
Transfers from Other Funds - - - -
Transfers to Other Funds - - - -
Transfers from Constitutional Officers - - - -
Total Other Financing Sources (Uses) - - - -
Net Change in Fund Balances 48,477 2,813 4,437 14,542
Fund Balances-October1 1,137,819 99,534 124,711 97,246
Fund Balances-September30 $ 1,186,296 $ 102,347 $ 129,148 $ 111,788
G-13
REVENUE FUNDS
Impact Fees, Fire &Amb Unincorp. Unincorp.
Employee District#1, Area Service Area Service 911
Fair Share Lower and District, Dist., Planning Municipal Enhancement
Housing Middle Keys Parks & Rec. Bldg. &Zoning Policing Fees
$ - $ 11,516,763 $ 1,840,080 $ 585,882 $ 4,015,150 $ -
- 124,268 5,422 1,270,889 - -
- 638,217 - 2,790,277 3,578,357 463,135
- - - 2,387,225 - -
262 91,265 14,309 88,585 24,737 -
- 6,258 40,826 4,680 - -
262 12,376,771 1,900,637 7,127,538 7,618,244 463,135
- 602,921 54,040 2,621,487 204,574 -
- 12,216,970 - 2,657,562 8,211,334 463,135
- - - 884,311 - -
- - 1,827,997 - - -
- 12,819,891 1,882,037 6,163,360 8,415,908 463,135
262 (443,120) 18,600 964,178 (797,664) -
- (454,260) - (1,566,729) (11,514) -
- 201,771 27,549 4,801 321,342 -
- (252,489) 27,549 (1,561,928) 309,828 -
262 (695,609) 46,149 (597,750) (487,836) -
44,492 5,021,010 725,252 9,678,023 2,229,038 194
$ 44,754 $ 4,325,401 $ 771,401 $ 9,080,273 $ 1,741,202 $ 194
(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, 2018
SPECIAL
Duck Key Local Miscellaneous
Security Housing Boating Special
District Assistance Improvement Revenue
Revenues:
Taxes $ - $ - $ - $ -
Licenses and Permits 93,135 - - 108,037
Intergovernmental - 1,440,976 - -
Charges for Services - - 749,271 389,247
Fines and Forfeitures - - - 194,232
Investment Income 3,214 26,951 27,201 28,168
Miscellaneous - 131,010 3,657 1,120
Total Revenues 96,349 1,598,937 780,129 720,804
Expenditures:
Current:
General Government 1,000 - - 577
Public Safety 142,700 - - 201,494
Physical Environment - - 403,681 -
Transportation - - - -
Economic Environment - 269,595 - -
Human Services - - - 222,299
Culture and Recreation - - - 3,214
Court Related - - - 293,778
Capital Projects - - - -
Total Expenditures 143,700 269,595 403,681 721,362
Excess/Deficiency of Revenues
Over(Under) Expenditures (47,351) 1,329,342 376,448 (558)
Other Financing Sources (Uses):
Transfers from Other Funds - - - 4,029
Transfers to Other Funds - - (44,542) -
Transfers from Constitutional Officers - - - -
Total Other Financing Sources (Uses) - - (44,542) 4,029
Net Change in Fund Balances (47,351) 1,329,342 331,906 3,471
Fund Balances-October1 369,466 1,513,701 2,799,729 3,075,735
Fund Balances-September30 $ 322,115 $ 2,843,043 $ 3,131,635 $ 3,079,206
G-15
REVENUE FUNDS
Law Court Drug Marathon
Environmental Enforcement Facility Abuse Municipal
Restoration Trust Fees Trust Service
- - 413,393 31,236 -
746,450 - - - -
23,725 5,337 33,013 533 31
770,175 5,337 446,406 31,769 31
- 56,497 - - -
302,463 - - - -
- - - 58,696 -
- - 168,011 - -
302,463 56,497 168,011 58,696 -
467,712 (51,160) 278,395 (26,927) 31
(25,685) - - - -
- 20,733 - - -
(25,685) 20,733 - - -
442,027 (30,427) 278,395 (26,927) 31
2,297,016 634,050 3,546,467 85,478 2,570
$ 2,739,043 $ 603,623 $ 3,824,862 $ 58,551 $ 2,601
(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, 2018
SPECIAL
Bay Point Big Coppitt Key Largo
Wastewater Wastewater Wastewater Stock Island
MSTU MSTU MSTU Wastewater
Revenues:
Taxes $ - $ - $ 1,052 $ -
Licenses and Permits - - - 724,845
Intergovernmental - - - -
Charges for Services - - - -
Fines and Forfeitures - - - -
Investment Income 394 5 70 22,409
Miscellaneous - - - 6,532
Total Revenues 394 5 1,122 753,786
Expenditures:
Current:
General Government - - - 1,000
Public Safety - - - -
Physical Environment 591 - 32 445,075
Transportation - - - -
Economic Environment - - - -
Human Services - - - -
Culture and Recreation - - - -
Court Related - - - -
Capital Projects - - - -
Total Expenditures 591 - 32 446,075
Excess/Deficiency of Revenues
Over(Under) Expenditures (197) 5 1,090 307,711
Other Financing Sources (Uses):
Transfers from Other Funds - - - -
Transfers to Other Funds - - - -
Transfers from Constitutional Officers - - 16 1,019
Total Other Financing Sources (Uses) - - 16 1,019
Net Change in Fund Balances (197) 5 1,106 308,730
Fund Balances-October 1 46,405 607 6,653 595,727
Fund Balances-September 30 $ 46,208 $ 612 $ 7,759 $ 904,457
G-17
REVENUE FUNDS
Long Key,
Conch Key Layton Duck Key Building Road and
MSTU MSTU MSTU Fund Bridge
$ - $ - $ - $ - $ 2,376,104
- - - 4,833,229 -
- - - - 3,784,276
- - - 106,479 136,855
5 2,283 501 25,444 130,500
- - - 23,177 50,685
5 2,283 501 4,988,329 6,478,420
- - - 6,101,138 -
- 4,216 - - -
- - - - 5,930,903
- 4,216 - 6,101,138 5,930,903
5 (1,933) 501 (1,112,809) 547,517
- - - - (771,759)
- - - - (771,759)
5 (1,933) 501 (1,112,809) (224,242)
480 259,062 58,262 3,735,116 14,664,075
$ 485 $ 257,129 $ 58,763 $ 2,622,307 $ 14,439,833
(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, 2018
CAPITAL
Total Nonmajor Clerk's Infrastructure
Special Rev Revenue Revenue Bonds
Funds Note Series 2007
Revenues:
Taxes $ 53,098,710 $ - $ -
Licenses and Permits 5,942,407 - -
Intergovernmental 6,625,831 - -
Charges for Services 9,296,467 - -
Fines and Forfeitures 3,327,907 - -
Investment Income 873,526 1,068 21,031
Miscellaneous 267,945 - -
Total Revenues 79,432,793 1,068 21,031
Expenditures:
Current:
General Government 3,485,599 - -
Public Safety 30,050,830 - -
Physical Environment 2,040,369 - -
Transportation 5,930,903 - -
Economic Environment 35,188,431 - -
Human Services 280,995 - -
Culture and Recreation 1,831,211 - -
Court Related 461,789 - -
Capital Projects - - 435,792
Total Expenditures 79,270,127 - 435,792
Excess/Deficiency of Revenues -
Over(Under) Expenditures 162,666 1,068 (414,761)
Other Financing Sources (Uses):
Transfers from Other Funds 4,029 - -
Transfers to Other Funds (3,121,173) - (500,000)
Transfers from Constitutional Officers 910,084 - -
Total Other Financing Sources (Uses) (2,207,060) - (500,000)
Net Change in Fund Balances (2,044,394) 1,068 (914,761)
Fund Balances-October1 89,495,899 105,187 1,192,359
Fund Balances-September30 $ 87,451,505 $ 106,255 $ 277,598
G-19
PROJECT FUNDS
Total
Big Coppitt Duck Key Long Key Land Nonmajor
Wastewater Wastewater Wastewater Acquisition Governmental
Project Project Project Fund Funds
$ - $ - $ - $ - $ 53,098,710
221,448 90,475 - - 6,254,330
- - - - 6,625,831
- - - - 9,296,467
- - - - 3,327,907
78,438 16,694 2,704 42,534 1,035,995
31,049 6,532 - - 305,526
330,935 113,701 2,704 42,534 79,944,766
- - - - 3,485,599
- - - - 30,050,830
- - - - 2,040,369
- - - - 5,930,903
- - - - 35,188,431
- - - - 280,995
- - - - 1,831,211
- - - - 461,789
21,118 1,945 101,977 1,344,407 1,905,239
21,118 1,945 101,977 1,344,407 81,175,366
309,817 111,756 (99,273) (1,301,873) (1,230,600)
500,000 - - - 504,029
(681,938) - - - (4,303,111)
841 688 - - 911,613
(181,097) 688 - - (2,887,469)
128,720 112,444 (99,273) (1,301,873) (4,118,069)
37,888 166,044 833,335 5,686,782 97,517,494
$ 166,608 $ 278,488 $ 734,062 $ 4,384,909 $ 93,399,425
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ 1,100 $ 1,100 $ 3,405 $ 2,305
Total Revenues 1,100 1,100 3,405 2,305
EXPENDITURES:
Current:
Economic Environment:
Affordable Housing Initiatives 290,000 290,000 - 290,000
Total Expenditures 290,000 290,000 - 290,000
Excess/Deficiency of Revenues
Over(Under) Expenditures (288,900) (288,900) 3,405 292,305
Other Financing Sources (Uses):
Reserve for Contingencies (9,000) (9,000) - 9,000
Reserve for Cash Balance (14,000) (14,000) - 14,000
Total Other Financing Sources (Uses) (23,000) (23,000) - 23,000
Net Change in Fund Balances (311,900) (311,900) 3,405 315,305
Fund Balances, October 1 311,900 311,900 392,213 80,313
Fund Balances, September 30 $ - $ - $ 395,618 $ 395,618
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 6,059,183 $ 6,059,183 $ 5,332,289 $ (726,894)
Investment Income - - 42,310 42,310
Total Revenues 6,059,183 6,059,183 5,374,599 (684,584)
EXPENDITURES:
Current:
Economic Environment:
Cultural Umbrella 1,498,579 1,498,579 1,059,968 438,611
Fishing Umbrella 1,170,500 1,170,500 936,742 233,758
Dive Umbrella 1,100,000 1,100,000 950,944 149,056
Operations - Events 3,188,760 3,188,760 2,247,179 941,581
Catastrophic Emergency 1,827,833 1,827,833 - 1,827,833
Special Projects 1,074,340 1,074,340 624,072 450,268
Total Expenditures 9,860,012 9,860,012 5,818,905 4,041,107
Excess/Deficiency of Revenues
Over(Under) Expenditures (3,800,829) (3,800,829) (444,306) 3,356,523
Other Financing Sources (Uses):
Transfers to Other Funds (58,182) (58,182) (58,182) -
Transfers from Constitutional Officers - - 58,249 58,249
Total Other Financing Sources (Uses) (58,182) (58,182) 67 58,249
Net Change in Fund Balances (3,859,011) (3,859,011) (444,239) 3,414,772
Fund Balances, October 1 3,859,011 3,859,011 5,320,142 1,461,131
Fund Balances, September 30 $ - $ - $ 4,875,903 $ 4,875,903
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 12,555,817 $ 12,555,817 $ 11,049,550 $ (1,506,267)
Investment Income - - 40,412 40,412
Total Revenues 12,555,817 12,555,817 11,089,962 (1,465,855)
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion 11,903,692 11,903,692 9,840,029 2,063,663
Administrative Services 1,458,430 1,458,430 826,234 632,196
Catastrophic Emergency 2,272,167 2,272,167 993,695 1,278,472
Special Projects 1,464,890 1,464,890 1,464,890 -
Total Expenditures 17,099,179 17,099,179 13,124,848 3,974,331
Excess/Deficiency of Revenues
Over(Under) Expenditures (4,543,362) (4,543,362) (2,034,886) 2,508,476
Other Financing Sources (Uses):
Transfers to Other Funds (39,610) (39,610) (39,610) -
Transfers from Constitutional Officers - - 108,177 108,177
Total Other Financing Sources (Uses) (39,610) (39,610) 68,567 108,177
Net Change in Fund Balances (4,582,972) (4,582,972) (1,966,319) 2,616,653
Fund Balances, October 1 4,582,972 4,582,972 8,214,874 3,631,902
Fund Balances, September 30 $ - $ - $ 6,248,555 $ 6,248,555
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 10,446,737 $ 10,446,737 $ 9,653,986 $ (792,751)
Investment Income - - 114,756 114,756
Total Revenues 10,446,737 10,446,737 9,768,742 (677,995)
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion 5,264,115 5,264,115 4,658,104 606,011
Administrative Services 507,423 507,423 114,167 393,256
Special Events 853,421 853,421 387,835 465,586
Bricks and Mortar 11,524,842 11,524,842 4,354,127 7,170,715
Information Services 383,761 383,761 383,752 9
Beaches 314,047 314,047 - 314,047
Total Expenditures 18,847,609 18,847,609 9,897,985 8,949,624
Excess/Deficiency of Revenues
Over(Under) Expenditures (8,400,872) (8,400,872) (129,243) 8,271,629
Other Financing Sources (Uses):
Transfers to Other Funds (59,799) (59,799) (59,799) -
Transfers from Constitutional Officers - - 98,942 98,942
Total Other Financing Sources (Uses) (59,799) (59,799) 39,143 98,942
Net Change in Fund Balances (8,460,671) (8,460,671) (90,100) 8,370,571
Fund Balances, October 1 8,460,671 8,460,671 12,279,409 3,818,738
Fund Balances, September 30 $ - $ - $ 12,189,309 $ 12,189,309
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 1,092,180 $ 1,092,180 $ 1,033,066 $ (59,114)
Investment Income - - 10,707 10,707
Total Revenues 1,092,180 1,092,180 1,043,773 (48,407)
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion 483,189 483,189 422,621 60,568
Administrative Services 20,517 20,517 10,135 10,382
Special Events 8,211 8,211 4,400 3,811
Bricks and Mortar 829,281 829,281 233,539 595,742
Information Services 95,760 95,760 95,760 -
Total Expenditures 1,436,958 1,436,958 766,455 670,503
Excess/Deficiency of Revenues
Over(Under) Expenditures (344,778) (344,778) 277,318 622,096
Other Financing Sources (Uses):
Transfers to Other Funds (23,290) (23,290) (23,290) -
Transfers from Constitutional Officers - - 10,135 10,135
Total Other Financing Sources (Uses) (23,290) (23,290) (13,155) 10,135
Net Change in Fund Balances (368,068) (368,068) 264,163 632,231
Fund Balances, October 1 368,068 368,068 977,618 609,550
Fund Balances, September 30 $ - $ - $ 1,241,781 $ 1,241,781
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 2,857,924 $ 2,857,924 $ 2,125,104 $ (732,820)
Investment Income - - 30,989 30,989
Total Revenues 2,857,924 2,857,924 2,156,093 (701,831)
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion 1,518,528 1,518,528 1,289,811 228,717
Administrative Services 124,256 124,256 21,569 102,687
Special Events 63,384 63,384 32,859 30,525
Bricks and Mortar 3,379,496 3,379,496 815,860 2,563,636
Information Services 168,000 168,000 168,000 -
Total Expenditures 5,253,664 5,253,664 2,328,099 2,925,565
Excess/Deficiency of Revenues
Over(Under) Expenditures (2,395,740) (2,395,740) (172,006) 2,223,734
Other Financing Sources (Uses):
Transfers to Other Funds (16,356) (16,356) (16,356) -
Transfers from Constitutional Officers - - 21,569 21,569
Total Other Financing Sources (Uses) (16,356) (16,356) 5,213 21,569
Net Change in Fund Balances (2,412,096) (2,412,096) (166,793) 2,245,303
Fund Balances, October 1 2,412,096 2,412,096 3,539,202 1,127,106
Fund Balances, September 30 $ - $ - $ 3,372,409 $ 3,372,409
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 1,980,636 $ 1,980,636 $ 1,223,602 $ (757,034)
Investment Income - - 16,357 16,357
Total Revenues 1,980,636 1,980,636 1,239,959 (740,677)
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion 989,780 989,780 869,958 119,822
Administrative Services 73,482 73,482 12,182 61,300
Special Events 142,088 142,088 61,919 80,169
Bricks and Mortar 1,775,297 1,775,297 160,078 1,615,219
Information Services 157,500 157,500 157,500 -
Total Expenditures 3,138,147 3,138,147 1,261,637 1,876,510
Excess/Deficiency of Revenues
Over(Under) Expenditures (1,157,511) (1,157,511) (21,678) 1,135,833
Other Financing Sources (Uses):
Transfers to Other Funds (12,023) (12,023) (12,023) -
Transfers from Constitutional Officers - - 12,182 12,182
Total Other Financing Sources (Uses) (12,023) (12,023) 159 12,182
Net Change in Fund Balances (1,169,534) (1,169,534) (21,519) 1,148,015
Fund Balances, October 1 1,169,534 1,169,534 1,970,462 800,928
Fund Balances, September 30 $ - $ - $ 1,948,943 $ 1,948,943
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 2,237,523 $ 2,237,523 $ 2,346,082 $ 108,559
Investment Income - - 21,431 21,431
Total Revenues 2,237,523 2,237,523 2,367,513 129,990
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion 1,102,875 1,102,875 917,196 185,679
Administrative Services 45,980 45,980 23,599 22,381
Information Services 149,100 149,100 149,100 -
Special Events 101,075 101,075 87,640 13,435
Bricks and Mortar 1,343,690 1,343,690 543,372 800,318
Total Expenditures 2,742,720 2,742,720 1,720,907 1,021,813
Excess/Deficiency of Revenues
Over(Under) Expenditures (505,197) (505,197) 646,606 1,151,803
Other Financing Sources (Uses):
Transfers to Other Funds (37,424) (37,424) (37,424) -
Transfers from Constitutional Officers - - 23,599 23,599
Total Other Financing Sources (Uses) (37,424) (37,424) (13,825) 23,599
Net Change in Fund Balances (542,621) (542,621) 632,781 1,175,402
Fund Balances, October 1 542,621 542,621 1,881,997 1,339,376
Fund Balances, September 30 $ - $ - $ 2,514,778 $ 2,514,778
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 42,000 $ 42,000 $ 83,884 $ 41,884
Investment Income 69,665 69,665 25,082 (44,583)
Total Revenues 111,665 111,665 108,966 (2,699)
EXPENDITURES:
Current:
Transportation:
Roadway Projects 444,375 444,375 - 444,375
Truman Bridge Ped Bridge 929,520 929,520 - 929,520
Key Colony Beach Road Project 37,002 37,002 - 37,002
Total Expenditures 1,410,897 1,410,897 - 1,410,897
Excess/Deficiency of Revenues
Over(Under) Expenditures (1,299,232) (1,299,232) 108,966 1,408,198
Net Change in Fund Balances (1,299,232) (1,299,232) 108,966 1,408,198
Fund Balances, October 1 1,299,232 1,299,232 1,423,814 124,582
Fund Balances, September 30 $ - $ - $ 1,532,780 $ 1,532,780
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 41,200 $ 41,200 $ 42,160 $ 960
Investment Income 1,200 1,200 5,983 4,783
Total Revenues 42,400 42,400 48,143 5,743
EXPENDITURES:
Current:
Culture and Recreation:
District 1 Projects 175,541 175,541 - 175,541
District 2 Projects 244,076 244,076 - 244,076
District 3 Projects 153,304 153,304 - 153,304
Bay Point Park 18,656 18,656 - 18,656
Big Coppitt Park 6,645 6,645 - 6,645
Total Expenditures 598,222 598,222 - 598,222
Excess/Deficiency of Revenues
Over(Under) Expenditures (555,822) (555,822) 48,143 603,965
Net Change in Fund Balances (555,822) (555,822) 48,143 603,965
Fund Balances, October 1 555,822 555,822 648,250 92,428
Fund Balances, September 30 $ - $ - $ 696,393 $ 696,393
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 30,000 $ 30,000 $ 38,331 $ 8,331
Investment Income 2,700 2,700 10,146 7,446
Total Revenues 32,700 32,700 48,477 15,777
EXPENDITURES:
Current:
Culture and Recreation:
County-wide Library Projects 1,142,048 1,142,048 - 1,142,048
Library Automation 25,000 25,000 - 25,000
Total Expenditures 1,167,048 1,167,048 - 1,167,048
Excess/Deficiency of Revenues
Over(Under) Expenditures (1,134,348) (1,134,348) 48,477 1,182,825
Net Change in Fund Balances (1,134,348) (1,134,348) 48,477 1,182,825
Fund Balances, October 1 1,134,348 1,134,348 1,137,819 3,471
Fund Balances, September 30 $ - $ - $ 1,186,296 $ 1,186,296
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 9,300 $ 9,300 $ 1,920 $ (7,380)
Investment Income 150 150 893 743
Total Revenues 9,450 9,450 2,813 (6,637)
EXPENDITURES:
Current:
Physical Environment:
County-wide Solid Waste Projects 111,451 111,451 - 111,451
Total Expenditures 111,451 111,451 - 111,451
Excess/Deficiency of Revenues
Over(Under) Expenditures (102,001) (102,001) 2,813 104,814
Net Change in Fund Balances (102,001) (102,001) 2,813 104,814
Fund Balances, October 1 102,001 102,001 99,534 (2,467)
Fund Balances, September 30 $ - $ - $ 102,347 $ 102,347
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 24,000 $ 24,000 $ 3,285 $ (20,715)
Investment Income 200 200 1,152 952
Total Revenues 24,200 24,200 4,437 (19,763)
EXPENDITURES:
Current:
Public Safety:
County-wide Police Facility 144,951 144,951 - 144,951
Total Expenditures 144,951 144,951 - 144,951
Excess/Deficiency of Revenues
Over(Under) Expenditures (120,751) (120,751) 4,437 125,188
Net Change in Fund Balances (120,751) (120,751) 4,437 125,188
Fund Balances, October 1 120,751 120,751 124,711 3,960
Fund Balances, September 30 $ - $ - $ 129,148 $ 129,148
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 15,700 $ 15,700 $ 13,581 $ (2,119)
Investment Income 130 130 961 831
Total Revenues 15,830 15,830 14,542 (1,288)
EXPENDITURES:
Current:
Public Safety:
District 1 Fire & EMS Project 46,231 46,231 - 46,231
District 2 Fire & EMS Project 2,100 2,100 - 2,100
District 3 Fire & EMS Project 52,944 52,944 - 52,944
Key Colony Beach Fire & EMS 1,109 1,109 - 1,109
Total Expenditures 102,384 102,384 - 102,384
Excess/Deficiency of Revenues
Over(Under) Expenditures (86,554) (86,554) 14,542 101,096
Net Change in Fund Balances (86,554) (86,554) 14,542 101,096
Fund Balances, October 1 86,554 86,554 97,246 10,692
Fund Balances, September 30 $ - $ - $ 111,788 $ 111,788
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 10,000 $ 10,000 $ - $ (10,000)
Investment Income 275 275 262 (13)
Total Revenues 10,275 10,275 262 (10,013)
EXPENDITURES:
Current:
Economic Environment:
District 1 Employee Fair Share Housing 20,000 20,000 - 20,000
District 3 Employee Fair Share Housing 24,732 24,732 - 24,732
Total Expenditures 44,732 44,732 - 44,732
Excess/Deficiency of Revenues
Over(Under) Expenditures (34,457) (34,457) 262 34,719
Net Change in Fund Balances (34,457) (34,457) 262 34,719
Fund Balances, October 1 34,457 34,457 44,492 10,035
Fund Balances, September 30 $ - $ - $ 44,754 $ 44,754
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 11,933,696 $ 11,933,696 $ 11,516,763 $ (416,933)
Intergovernmental 33,000 131,195 124,268 (6,927)
Charges for Services 600,000 600,000 638,217 38,217
Investment Income 27,500 27,500 91,265 63,765
Miscellaneous - - 6,258 6,258
Total Revenues 12,594,196 12,692,391 12,376,771 (315,620)
EXPENDITURES:
Current:
General Government:
Tax Collector 357,111 396,187 396,187 -
Property Appraiser 194,006 206,734 206,734 -
Total General Government 551,117 602,921 602,921 -
Public Safety:
Fire Rescue- Central 11,784,191 12,564,837 12,216,970 347,867
Lower& Middle Keys Ambulance District - - - -
Total Public Safety 11,784,191 12,564,837 12,216,970 347,867
Total Expenditures 12,335,308 13,167,758 12,819,891 347,867
Excess/Deficiency of Revenues
Over(Under) Expenditures 258,888 (475,367) (443,120) 32,247
Other Financing Sources (Uses):
Reserve for Contingencies (734,255) - - -
Reserve for Cash Balance (1,391,052) (1,391,052) - 1,391,052
Transfers to Other Funds (908,519) (908,519) (454,260) 454,259
Transfers from Constitutional Officers 180,000 180,000 201,771 21,771
Total Other Financing Sources (Uses) (2,853,826) (2,119,571) (252,489) 1,867,082
Net Change in Fund Balances (2,594,938) (2,594,938) (695,609) 1,899,329
Fund Balances, October 1 2,594,938 2,594,938 5,021,010 2,426,072
Fund Balances, September 30 $ - $ - $ 4,325,401 $ 4,325,401
G-36
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 1,887,131 $ 1,887,131 $ 1,840,080 $ (47,051)
Intergovernmental - - 5,422 5,422
Charges for Services 45,000 45,000 - (45,000)
Investment Income 4,000 4,000 14,309 10,309
Miscellaneous 60,000 60,000 40,826 (19,174)
Total Revenues 1,996,131 1,996,131 1,900,637 (95,494)
EXPENDITURES:
Current:
General Government:
Tax Collector 56,464 56,464 54,040 2,424
Culture and Recreation:
Parks and Beaches Unincorporated 1,962,880 1,962,880 1,622,207 340,673
Jacob's Aquatic Center 180,000 180,000 180,000 -
School Board Interlocal 32,000 32,000 25,790 6,210
Total Culture and Recreation 2,174,880 2,174,880 1,827,997 346,883
Total Expenditures 2,231,344 2,231,344 1,882,037 349,307
Excess/Deficiency of Revenues
Over(Under) Expenditures (235,213) (235,213) 18,600 253,813
Other Financing Sources (Uses):
Reserve for Contingencies (191,021) (191,021) - 191,021
Transfers to Other Funds (162,768) (162,768) - 162,768
Transfers from Constitutional Officers - - 27,549 27,549
Total Other Financing Sources (Uses) (353,789) (353,789) 27,549 381,338
Net Change in Fund Balances (589,002) (589,002) 46,149 635,151
Fund Balances, October 1 589,002 589,002 725,252 136,250
Fund Balances, September 30 $ - $ - $ 771,401 $ 771,401
G-37
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MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
UNINCORPORATED AREA SERVICE DISTRICT- PLANNING,
BUILDING AND ZONING SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 615,000 $ 615,000 $ 585,882 $ (29,118)
Intergovernmental 1,327,000 1,327,000 1,270,889 (56,111)
Charges for Services 2,665,000 2,665,000 2,790,277 125,277
Fines and Forfeitures 1,300,000 1,300,000 2,387,225 1,087,225
Investment Income 25,000 25,000 88,585 63,585
Miscellaneous - - 4,680 4,680
Total Revenues 5,932,000 5,932,000 7,127,538 1,195,538
Expenditures:
Current:
General Government:
Tax Collector 5,000 6,700 6,699 1
Property Appraiser 31,520 33,037 33,037 -
Growth Mgmt County Attorney 216,075 216,050 211,769 4,281
Affordable Housing - 100,000 2,638 97,362
Planning Department 2,367,833 2,267,833 1,980,170 287,663
Planning Commission 88,390 88,390 60,525 27,865
Planning Legal 577,274 577,299 314,833 262,466
Planning Building Refunds 62,000 62,000 11,816 50,184
Total General Government 3,348,092 3,351,309 2,621,487 729,822
Public Safety:
Code Enforcement 1,796,905 1,796,905 1,355,102 441,803
Fire & Rescue Coordinator 908,403 908,404 820,464 87,940
Fire Marshall 469,978 494,977 481,996 12,981
Total Public Safety 3,175,286 3,200,286 2,657,562 542,724
Physical Environment:
Environmental Resources 890,948 890,948 884,311 6,637
Total Physical Environment 890,948 890,948 884,311 6,637
Total Expenditures 7,414,326 7,442,543 6,163,360 1,279,183
Excess/Deficiency of Revenues
Over(Under) Expenditures (1,482,326) (1,510,543) 964,178 2,474,721
(Continued)
G-38
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,
BUILDING AND ZONING SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Other Financing Sources (Uses):
Reserve for Contingencies (498,307) (470,090) - 470,090
Reserve for Cash Balance (1,440,906) (1,440,906) - 1,440,906
Transfers to Other Funds (1,547,942) (1,547,942) (1,566,729) (18,787)
Transfers from Constitutional Officers 10,000 10,000 4,801 (5,199)
Total Other Financing Sources (Uses) (3,477,155) (3,448,938) (1,561,928) 1,887,010
Net Change in Fund Balances (4,959,481) (4,959,481) (597,750) 4,361,731
Fund Balances, October 1 4,959,481 4,959,481 9,678,023 4,718,542
Fund Balances, September 30 $ - $ - $ 9,080,273 $ 9,080,273
G-39
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
MUNICIPAL POLICING SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 4,117,003 $ 4,117,003 $ 4,015,150 $ (101,853)
Charges for Services 3,771,386 3,771,386 3,578,357 (193,029)
Investment Income 8,500 8,500 24,737 16,237
Total Revenues 7,896,889 7,896,889 7,618,244 (278,645)
EXPENDITURES:
Current:
General Government:
Tax Collector 123,210 132,488 132,488 -
Property Appraiser 74,468 74,468 72,086 2,382
Total General Government 197,678 206,956 204,574 2,382
Public Safety:
Insurance Unincorporated & Layton 675,698 675,698 646,222 29,476
Insurance Islamorada 281,046 281,046 267,102 13,944
Insurance Marathon 250,580 250,580 240,088 10,492
Sheriff Unincorporated & Layton 3,818,162 3,818,162 3,818,162 -
Sheriff Islamorada 1,748,788 1,748,788 1,748,788 -
Sheriff Marathon 1,490,972 1,490,972 1,490,972 -
Total Public Safety 8,265,246 8,265,246 8,211,334 53,912
Total Expenditures 8,462,924 8,472,202 8,415,908 56,294
Excess/Deficiency of Revenues
Over(Under) Expenditures (566,035) (575,313) (797,664) (222,351)
Other Financing Sources (Uses):
Reserve for Contingencies (199,317) (190,039) - 190,039
Reserve for Cash Balance (944,000) (944,000) - 944,000
Transfers to Other Funds (11,514) (11,514) (11,514) -
Transfers from Constitutional Officers 355,000 355,000 321,342 (33,658)
Total Other Financing Sources (Uses) (799,831) (790,553) 309,828 1,100,381
Net Change in Fund Balances (1,365,866) (1,365,866) (487,836) 878,030
Fund Balances, October 1 1,365,866 1,365,866 2,229,038 863,172
Fund Balances, September 30 $ - $ - $ 1,741,202 $ 1,741,202
G-40
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Charges for Services $ 515,000 $ 515,000 $ 463,135 $ (51,865)
Investment Income 300 300 - (300)
Total Revenues 515,300 515,300 463,135 (52,165)
EXPENDITURES:
Current:
Public Safety:
911 Enhancement Fund 195,000 195,000 154,319 40,681
911 Wireless 320,300 320,300 308,816 11,484
Total Expenditures 515,300 515,300 463,135 52,165
Excess/Deficiency of Revenues
Over(Under) Expenditures - - - -
Net Change in Fund Balances - - - -
Fund Balances, October 1 - - 194 194
Fund Balances, September 30 $ - $ - $ 194 $ 194
G-41
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 96,096 $ 96,096 $ 93,135 $ (2,961)
Investment Income 1,100 1,100 3,214 2,114
Total Revenues 97,196 97,196 96,349 (847)
EXPENDITURES:
Current:
General Government:
Tax Collector 2,250 2,250 1,000 1,250
Public Safety:
Island Security 255,000 255,000 142,700 112,300
Total Expenditures 257,250 257,250 143,700 113,550
Excess/Deficiency of Revenues
Over(Under) Expenditures (160,054) (160,054) (47,351) 112,703
Other Financing Sources (Uses):
Reserve for Contingencies (35,000) (35,000) - 35,000
Reserve for Cash Balance (70,000) (70,000) - 70,000
Total Other Financing Sources (Uses) (105,000) (105,000) - 105,000
Net Change in Fund Balances (265,054) (265,054) (47,351) 217,703
Fund Balances, October 1 265,054 265,054 369,466 104,412
Fund Balances, September 30 $ - $ - $ 322,115 $ 322,115
G-42
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Intergovernmental $ 420,000 $ 1,497,858 $ 1,440,976 $ (56,882)
Investment Income 4,500 4,500 26,951 22,451
Miscellaneous 180,000 180,000 131,010 (48,990)
Total Revenues 604,500 1,682,358 1,598,937 (83,421)
EXPENDITURES:
Current:
Economic Environment:
Homeowner Assistance 1,459,983 2,537,841 225,717 2,312,124
Fair Housing 15,000 15,000 - 15,000
Administration 106,243 106,243 43,878 62,365
Total Expenditures 1,581,226 2,659,084 269,595 2,389,489
Excess/Deficiency of Revenues
Over(Under) Expenditures (976,726) (976,726) 1,329,342 2,306,068
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 (1,006,726) (1,006,726) 1,329,342 2,336,068
Fund Balances, October 1 1,006,726 1,006,726 1,513,701 506,975
Fund Balances, September 30 $ - $ - $ 2,843,043 $ 2,843,043
G-43
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Charges for Services $ 740,000 $ 740,000 $ 749,271 $ 9,271
Investment Income 7,000 7,000 27,201 20,201
Miscellaneous - - 3,657 3,657
Total Revenues 747,000 747,000 780,129 33,129
EXPENDITURES:
Current:
Physical Environment:
Boating Improvement 1,447,667 1,447,667 243,767 1,203,900
Boating Imp Fees/Retained Vessel 489,379 339,851 159,914 179,937
Total Expenditures 1,937,046 1,787,518 403,681 1,383,837
Excess/Deficiency of Revenues
Over(Under) Expenditures (1,190,046) (1,040,518) 376,448 1,416,966
Other Financing Sources (Uses):
Reserve for Contingencies (230,110) (230,110) - 230,110
Reserve for Cash Balance (346,244) (346,244) - 346,244
Transfers to Other Funds - (149,528) (44,542) 104,986
Total Other Financing Sources (Uses) (576,354) (725,882) (44,542) 681,340
Net Change in Fund Balances (1,766,400) (1,766,400) 331,906 2,098,306
Fund Balances, October 1 1,766,400 1,766,400 2,799,729 1,033,329
Fund Balances, September 30 $ - $ - $ 3,131,635 $ 3,131,635
G-44
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MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
MISCELLANEOUS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ - $ 108,037 $ 108,037 $ -
Charges for Services - 342,776 389,247 46,471
Fines and Forfeitures - 80,696 194,232 113,536
Investment Income - - 28,168 28,168
Miscellaneous - - 1,120 1,120
Total Revenues - 531,509 720,804 189,295
EXPENDITURES:
Current:
General Government:
Conservation Land Purchase 50,000 50,000 - 50,000
Legal Scholar Program 600 577 577 -
Total General Government 50,600 50,577 577 50,000
Public Safety:
Interagency Communications 140,000 140,000 114,006 25,994
Education-Building Department 23,400 60,611 35,993 24,618
Environmental Resource Education 40,000 105,646 43,731 61,915
Fire and Rescue Bldg Educ 5,000 10,180 7,764 2,416
Crime Prevention Program 50,000 50,000 - 50,000
Total Public Safety 258,400 366,437 201,494 164,943
Human Services:
FL Keys Council for the Handicapped 3,000 6,186 - 6,186
Bayshore Donations 1,557 1,557 96 1,461
Traffic Educ, Ord 021-2002 50,000 217,592 192,794 24,798
Legal Aid - 29,409 29,409 -
Total Human Services 54,557 254,744 222,299 32,445
Culture and Recreation:
Settler's Park Landscaping 2,633 2,633 - 2,633
Library Special Programs 30,000 58,525 3,214 55,311
Library Donation-Golan Trust 250,000 291,537 - 291,537
Total Culture and Recreation 282,633 352,695 3,214 349,481
(Continued)
G-45
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Court Related:
Teen Court-Ord 016-2004 - 29,409 29,409 -
Ord 016-2004 St Court Sup 15,000 84,068 14,005 70,063
SA Ct Tech FS28.24(12)(E) 375,000 564,260 138,176 426,084
PD Ct Tech FS28.24(12)(E) 50,000 93,839 53,789 40,050
J Ct Tech FS28.24(12)(E) 59,719 454,162 58,399 395,763
Total Court Related 499,719 1,225,738 293,778 931,960
Total Expenditures 1,145,909 2,250,191 721,362 1,528,829
Excess/Deficiency of Revenues
Over(Under) Expenditures (1,145,909) (1,718,682) (558) 1,718,124
Other Financing Sources (Uses):
Reserve for Contingencies (692,080) (89,898) - 89,898
Transfers to Other Funds - (29,409) - 29,409
Transfers from Other Funds - - 4,029 4,029
Total Other Financing Sources (Uses) (692,080) (119,307) 4,029 123,336
Net Change in Fund Balances (1,837,989) (1,837,989) 3,471 1,841,460
Fund Balances, October 1 1,837,989 1,837,989 3,075,735 1,237,746
Fund Balances, September 30 $ - $ - $ 3,079,206 $ 3,079,206
G-46
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Fines and Forfeitures $ 455,000 $ 455,000 $ 746,450 $ 291,450
Investment Income 5,500 5,500 23,725 18,225
Total Revenues 460,500 460,500 770,175 309,675
EXPENDITURES:
Current:
Physical Environment:
Environmental Restoration 456,522 396,522 302,463 94,059
Total Physical Environment 456,522 396,522 302,463 94,059
Culture and Recreation:
Settler's Park 9,083 9,083 - 9,083
Total Culture and Recreation 9,083 9,083 - 9,083
Total Expenditures 465,605 405,605 302,463 103,142
Excess/Deficiency of Revenues
Over(Under) Expenditures (5,105) 54,895 467,712 412,817
Other Financing Sources (Uses):
Reserve for Contingencies (55,000) (55,000) - 55,000
Reserve for Cash Balance (112,495) (112,495) - 112,495
Transfers to Other Funds - (60,000) (25,685) 34,315
Total Other Financing Sources (Uses) (167,495) (227,495) (25,685) 201,810
Net Change in Fund Balances (172,600) (172,600) 442,027 614,627
Fund Balances, October 1 172,600 172,600 2,297,016 2,124,416
Fund Balances, September 30 $ - $ - $ 2,739,043 $ 2,739,043
G-47
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ 1,750 $ 1,750 $ 5,337 $ 3,587
Miscellaneous - 122,348 - (122,348)
Total Revenues 1,750 124,098 5,337 (118,761)
EXPENDITURES:
Current:
Public Safety:
Law Enforcement 410,000 532,348 56,497 475,851
Total Expenditures 410,000 532,348 56,497 475,851
Excess/Deficiency of Revenues
Over(Under) Expenditures (408,250) (408,250) (51,160) 357,090
Other Financing Sources (Uses):
Reserve for Contingencies (26,158) (26,158) - 26,158
Reserve for Cash Balance (75,475) (75,475) - 75,475
Transfers from Constitutional Officers - - 20,733 20,733
Total Other Financing Sources (Uses) (101,633) (101,633) 20,733 122,366
Net Change in Fund Balances (509,883) (509,883) (30,427) 479,456
Fund Balances, October 1 509,883 509,883 634,050 124,167
Fund Balances, September 30 $ - $ - $ 603,623 $ 603,623
G-48
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Charges for Services $ 490,000 $ 490,000 $ 413,393 $ (76,607)
Investment Income 5,000 5,001 33,013 28,012
Total Revenues 495,000 495,001 446,406 (48,595)
EXPENDITURES:
Current:
Court Related:
Court Facility 391,765 391,766 168,011 223,755
Total Expenditures 391,765 391,766 168,011 223,755
Excess/Deficiency of Revenues
Over(Under) Expenditures 103,235 103,235 278,395 175,160
Other Financing Sources (Uses):
Reserve for Contingencies (33,485) (33,485) - 33,485
Reserve for Cash Balance (45,000) (45,000) - 45,000
Total Other Financing Sources (Uses) (78,485) (78,485) - 78,485
Net Change in Fund Balances 24,750 24,750 278,395 253,645
Fund Balances, October 1 (24,750) (24,750) 3,546,467 3,571,217
Fund Balances, September 30 $ - $ - $ 3,824,862 $ 3,824,862
G-49
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Charges for Services $ 30,000 $ 30,000 $ 31,236 $ 1,236
Investment Income 500 500 533 33
Total Revenues 30,500 30,500 31,769 1,269
EXPENDITURES:
Current:
Human Services:
Drug Abuse Trust Fund 100,000 100,000 58,696 41,304
Total Expenditures 100,000 100,000 58,696 41,304
Excess/Deficiency of Revenues
Over(Under) Expenditures (69,500) (69,500) (26,927) 42,573
Other Financing Sources (Uses):
Reserve for Contingencies (7,000) (7,000) - 7,000
Reserve for Cash Balance (12,000) (12,000) - 12,000
Total Other Financing Sources (Uses) (19,000) (19,000) - 19,000
Net Change in Fund Balances (88,500) (88,500) (26,927) 61,573
Fund Balances, October 1 88,500 88,500 85,478 (3,022)
Fund Balances, September 30 $ - $ - $ 58,551 $ 58,551
G-50
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ - $ - $ 31 $ 31
Total Revenues - - 31 31
EXPENDITURES:
Current:
General Government:
Tax Collector 200 200 - 200
Physical Environment:
Marathon Wastewater 1,101 1,101 - 1,101
Total Expenditures 1,301 1,301 - 1,301
Excess/Deficiency of Revenues
Over(Under) Expenditures (1,301) (1,301) 31 1,332
Other Financing Sources (Uses):
Reserve for Contingencies (181) (181) - 181
Total Other Financing Sources (Uses) (181) (181) - 181
Net Change in Fund Balances (1,482) (1,482) 31 1,513
Fund Balances, October 1 1,482 1,482 2,570 1,088
Fund Balances, September 30 $ - $ - $ 2,601 $ 2,601
G-51
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ - $ - $ 394 $ 394
Total Revenues - - 394 394
EXPENDITURES:
Current:
Physical Environment:
Bay Point Wastewater 29,200 29,200 591 28,609
Total Expenditures 29,200 29,200 591 28,609
Excess/Deficiency of Revenues
Over(Under) Expenditures (29,200) (29,200) (197) 29,003
Other Financing Sources (Uses):
Reserve for Contingencies (1,898) (1,898) - 1,898
Reserve for Cash Balance (3,586) (3,586) - 3,586
Total Other Financing Sources (Uses) (5,484) (5,484) - 5,484
Net Change in Fund Balances (34,684) (34,684) (197) 34,487
Fund Balances, October 1 34,684 34,684 46,405 11,721
Fund Balances, September 30 $ - $ - $ 46,208 $ 46,208
G-52
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ - $ - $ 5 $ 5
Total Revenues - - 5 5
EXPENDITURES:
Current:
Physical Environment:
Big Coppitt Wastewater 80 80 - 80
Total Expenditures 80 80 - 80
Excess/Deficiency of Revenues
Over(Under) Expenditures (80) (80) 5 85
Other Financing Sources (Uses):
Reserve for Cash Balance (60) (60) - 60
Total Other Financing Sources (Uses) (60) (60) - 60
Net Change in Fund Balances (140) (140) 5 145
Fund Balances, October 1 140 140 607 467
Fund Balances, September 30 $ - $ - $ 612 $ 612
G-53
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ - $ - $ 1,052 $ 1,052
Investment Income - - 70 70
Total Revenues - - 1,122 1,122
EXPENDITURES:
Current:
Physical Environment:
Key Largo Wastewater 4,021 4,021 32 3,989
Total Expenditures 4,021 4,021 32 3,989
Excess/Deficiency of Revenues
Over(Under) Expenditures (4,021) (4,021) 1,090 5,111
Other Financing Sources (Uses):
Reserve for Contingencies (300) (300) - 300
Reserve for Cash (600) (600) - 600
Transfers from Constitutional Officers - - 16 16
Total Other Financing Sources (Uses) (900) (900) 16 916
Net Change in Fund Balances (4,921) (4,921) 1,106 6,027
Fund Balances, October 1 4,921 4,921 6,653 1,732
Fund Balances, September 30 $ - $ - $ 7,759 $ 7,759
G-54
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 42,000 $ 135,278 $ 724,845 $ 589,567
Investment Income 1,700 1,700 22,409 20,709
Miscellaneous - - 6,532 6,532
Total Revenues 43,700 136,978 753,786 616,808
EXPENDITURES:
Current:
General Government:
Tax Collector Fees 1,500 1,500 1,000 500
Physical Environment:
Stock Island Wastewater 375,000 668,487 445,075 223,412
Total Expenditures 376,500 669,987 446,075 223,912
Excess/Deficiency of Revenues
Over(Under) Expenditures (332,800) (533,009) 307,711 840,720
Other Financing Sources (Uses):
Reserve for Contingencies (55,000) - - -
Reserve for Cash Balance (100,936) (30,013) - 30,013
Transfers from Constitutional Officers 425 425 1,019 594
Total Other Financing Sources (Uses) (155,511) (29,588) 1,019 30,607
Net Change in Fund Balances (488,311) (562,597) 308,730 871,327
Fund Balances, October 1 488,311 562,597 595,727 33,130
Fund Balances, September 30 $ - $ - $ 904,457 $ 904,457
G-55
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ - $ - $ 5 $ 5
Total Revenues - - 5 5
EXPENDITURES:
Current:
Physical Environment:
Conch Key MSTU 400 400 - 400
Total Expenditures 400 400 - 400
Excess/Deficiency of Revenues
Over(Under) Expenditures (400) (400) 5 405
Other Financing Sources/(Uses):
Reserve for Contingencies (78) (78) - 78
Total Other Financing Sources/(Uses) (78) (78) - 78
Net Change in Fund Balances (478) (478) 5 483
Fund Balances, October 1 478 478 480 2
Fund Balances, September 30 $ - $ - $ 485 $ 485
G-56
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ - $ - $ 2,283 $ 2,283
Total Revenues - - 2,283 2,283
EXPENDITURES:
Current:
Physical Environment:
Long Key-Layton Wastewater 153,700 153,700 4,216 149,484
Total Expenditures 153,700 153,700 4,216 149,484
Excess/Deficiency of Revenues
Over(Under) Expenditures (153,700) (153,700) (1,933) 151,767
Other Financing Sources (Uses):
Reserve for Contingencies (15,000) (15,000) - 15,000
Reserve for Cash Balance (32,436) (32,436) - 32,436
Total Other Financing Sources (Uses) (47,436) (47,436) - 47,436
Net Change in Fund Balances (201,136) (201,136) (1,933) 199,203
Fund Balances, October 1 201,136 201,136 259,062 57,926
Fund Balances, September 30 $ - $ - $ 257,129 $ 257,129
G-57
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, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ - $ - $ 501 $ 501
Total Revenues - - 501 501
EXPENDITURES:
Current:
Physical Environment:
Duck Key Wastewater 33,490 33,490 - 33,490
Total Expenditures 33,490 33,490 - 33,490
Excess/Deficiency of Revenues
Over(Under) Expenditures (33,490) (33,490) 501 33,991
Other Financing Sources (Uses):
Reserve for Contingencies (4,500) (4,500) - 4,500
Reserve for Cash Balance (9,300) (9,300) - 9,300
Total Other Financing Sources (Uses) (13,800) (13,800) - 13,800
Net Change in Fund Balances (47,290) (47,290) 501 47,791
Fund Balances, October 1 47,290 47,290 58,262 10,972
Fund Balances, September 30 $ - $ - $ 58,763 $ 58,763
G-58
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BUILDING SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 4,650,000 $ 4,650,000 $ 4,833,229 $ 183,229
Charges for Services 120,000 120,000 106,479 (13,521)
Investment Income 9,000 9,000 25,444 16,444
Miscellaneous 30,000 30,000 23,177 (6,823)
Total Revenues 4,809,000 4,809,000 4,988,329 179,329
EXPENDITURES:
Current:
Public Safety
Building Department 6,185,761 6,185,761 5,959,154 226,607
Building Legal 62,551 62,551 60,159 2,392
Building Refunds 30,000 130,000 81,825 48,175
Total Expenditures 6,278,312 6,378,312 6,101,138 277,174
Excess/Deficiency of Revenues
Over(Under) Expenditures (1,469,312) (1,569,312) (1,112,809) 456,503
Other Financing Sources (Uses):
Reserve for Contingencies (200,000) (100,000) - 100,000
Reserve for Cash Balance (278,929) (278,929) - 278,929
Transfer to Other Funds (509,033) (509,033) - 509,033
Total Other Financing Sources (Uses) (987,962) (887,962) - 887,962
Net Change in Fund Balances (2,457,274) (2,457,274) (1,112,809) 1,344,465
Fund Balances, October 1 2,457,274 2,457,274 3,735,116 1,277,842
Fund Balances, September 30 $ - $ - $ 2,622,307 $ 2,622,307
G-59
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
ROAD AND BRIDGE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Taxes $ 2,598,000 $ 2,598,000 $ 2,376,104 $ (221,896)
Intergovernmental 3,875,000 3,875,000 3,784,276 (90,724)
Charges for Services 65,000 65,000 136,855 71,855
Investment Income 35,000 35,000 130,500 95,500
Miscellaneous 22,700 22,700 50,685 27,985
Total Revenues 6,595,700 6,595,700 6,478,420 (117,280)
Expenditures:
Current:
Transportation:
Road Department 4,355,259 4,355,259 2,730,118 1,625,141
County Engineer Road and Bridge 476,016 499,016 475,213 23,803
Street Lighting 245,191 245,191 179,218 65,973
Local Option Gas Tax Projects 365,583 365,583 230,540 135,043
80% Gas Tax 500,000 500,000 39 499,961
Paving Backlog 3,256,276 3,256,276 2,215,487 1,040,789
Roadway Projects 1,500,000 1,500,000 - 1,500,000
Sugarloaf Blvd Bridge - 131,645 16,446 115,199
Sustainability Roads 950,000 1,552,606 80,857 1,471,749
Garrison Bight Bridge 29,570 29,570 2,985 26,585
Total Transportation 11,677,895 12,435,146 5,930,903 6,504,243
Total Expenditures 11,677,895 12,435,146 5,930,903 6,504,243
Excess/Deficiency of Revenues
Over(Under) Expenditures (5,082,195) (5,839,446) 547,517 6,386,963
Other Financing Sources (Uses):
Reserve for Contingencies (991,160) (233,909) - 233,909
Reserve for Cash Balance (310,144) (310,144) - 310,144
Transfers to Other Funds (3,920,047) (3,920,047) (771,759) 3,148,288
Total Other Financing Sources (Uses) (5,221,351) (4,464,100) (771,759) 3,692,341
Net Change in Fund Balances (10,303,546) (10,303,546) (224,242) 10,079,304
Fund Balances, October 1 10,303,546 10,303,546 14,664,075 4,360,529
Fund Balances, September 30 $ - $ - $ 14,439,833 $ 14,439,833
G-60
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
CLERK'S REVENUE NOTE CAPITAL PROJECTS FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ - $ - $ 1,068 $ 1,068
Total Revenues - - 1,068 1,068
EXPENDITURES:
Capital Projects 100,000 100,000 - 100,000
Total Expenditures 100,000 100,000 - 100,000
Excess/Deficiency of Revenues
Over (Under) Expenditures (100,000) (100,000) 1,068 101,068
Net Change in Fund Balances (100,000) (100,000) 1,068 101,068
Fund Balances, October 1 100,000 100,000 105,187 5,187
Fund Balances, September 30 $ - $ - $ 106,255 $ 106,255
G-61
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
INFRASTRUCTURE REVENUE BONDS SERIES 2007 CAPITAL PROJECTS FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ - $ - $ 21,031 $ 21,031
Total Revenues - - 21,031 21,031
EXPENDITURES:
Capital Projects 70,000 439,200 435,792 3,408
Total Expenditures 70,000 439,200 435,792 3,408
Excess/Deficiency of Revenues
Over (Under) Expenditures (70,000) (439,200) (414,761) 24,439
Other Financing Sources (Uses):
Reserve for Contingencies - (252,003) - 252,003
Transfers to Other Funds - (500,000) (500,000) -
Total Other Financing Sources (Uses) - (752,003) (500,000) 252,003
Net Change in Fund Balances (70,000) (1,191,203) (914,761) 276,442
Fund Balances, October 1 70,000 1,191,203 1,192,359 1,156
Fund Balances, September 30 $ - $ - $ 277,598 $ 277,598
G-62
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BIG COPPITT WASTEWATER CAPITAL PROJECT FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 475,000 $ 475,000 $ 221,448 $ (253,552)
Investment Income 10,000 10,000 78,438 68,438
Miscellaneous Income - - 31,049 31,049
Total Revenues 485,000 485,000 330,935 (154,065)
EXPENDITURES:
Current:
Capital Outlay:
Physical Environment:
Big Coppitt Refunds 5,000 5,000 - 5,000
Big Coppitt Special Assessment 68,500 68,500 21,118 47,382
Total Physical Environment 73,500 73,500 21,118 52,382
Total Capital Outlay Expenditures 73,500 73,500 21,118 52,382
Excess/Deficiency of Revenues
Over(Under) Expenditures 411,500 411,500 309,817 (101,683)
Other Financing Sources (Uses):
Reserve for Contingencies - (475,000) - 475,000
Transfers from Constitutional Officers - - 841 841
Transfers from Other Funds - 500,000 500,000 -
Transfers to Other Funds (682,000) (682,000) (681,938) 62
Total Other Financing Sources (Uses) (682,000) (657,000) (181,097) 475,903
Net Change in Fund Balances (270,500) (245,500) 128,720 374,220
Fund Balances, October 1 270,500 245,500 37,888 (207,612)
Fund Balances, September 30 $ - $ - $ 166,608 $ 166,608
G-63
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
DUCK KEY WASTEWATER PROJECT CAPITAL PROJECTS FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 80,000 $ 80,000 $ 90,475 $ 10,475
Investment Income 3,500 3,500 16,694 13,194
Miscellaneous - - 6,532 6,532
Total Revenues 83,500 83,500 113,701 30,201
EXPENDITURES:
Capital Projects 35,000 35,000 1,945 33,055
Total Expenditures 35,000 35,000 1,945 33,055
Excess/Deficiency of Revenues
Over (Under) Expenditures 48,500 48,500 111,756 63,256
Other Financing Sources (Uses):
Reserve for Contingencies (99,100) (99,100) - 99,100
Reserve for Cash Balance (28,224) (28,224) - 28,224
Transfer From Other Funds - - 688 688
Total Other Financing Sources (Uses) (127,324) (127,324) 688 128,012
Net Change in Fund Balances (78,824) (78,824) 112,444 191,268
Fund Balances, October 1 78,824 78,824 166,044 87,220
Fund Balances, September 30 $ - $ - $ 278,488 $ 278,488
G-64
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
LONG KEY WASTEWATER PROJECT CAPITAL PROJECTS FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ - $ - $ 2,704 $ 2,704
Total Revenues - - 2,704 2,704
EXPENDITURES:
Capital Projects 350,000 350,000 101,977 248,023
Total Expenditures 350,000 350,000 101,977 248,023
Excess/Deficiency of Revenues
Over (Under) Expenditures (350,000) (350,000) (99,273) 250,727
Net Change in Fund Balances (350,000) (350,000) (99,273) 250,727
Fund Balances, October 1 350,000 350,000 833,335 483,335
Fund Balances, September 30 $ - $ - $ 734,062 $ 734,062
G-65
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
LAND ACQUISITION FUND CAPITAL PROJECTS FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ - $ - $ 42,534 $ 42,534
Total Revenues - - 42,534 42,534
EXPENDITURES:
Capital Projects 6,000,000 6,000,000 1,344,407 4,655,593
Total Expenditures 6,000,000 6,000,000 1,344,407 4,655,593
Excess/Deficiency of Revenues
Over (Under) Expenditures (6,000,000) (6,000,000) (1,301,873) 4,698,127
Net Change in Fund Balances (6,000,000) (6,000,000) (1,301,873) 4,698,127
Fund Balances, October 1 6,000,000 6,000,000 5,686,782 (313,218)
Fund Balances, September 30 $ - $ - $ 4,384,909 $ 4,384,909
G-66
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING STATEMENT OF NET POSITION
INTERNAL SERVICE FUNDS
SEPTEMBER 30,2018
Workers' Group Risk
Compensation Insurance Management
Fund Fund Fund
ASSETS
Current Assets:
Cash and Cash Equivalents $ 701,822 $ 3,213,931 $ 1,078,464
Investments 2,926,993 13,447,199 5,625,914
Accounts Receivable, Net - 6,453 44,559
Due from Other Governmental Units 161 172,153 -
Due from Constitutional Officers 19,060 97,809 -
Interest Receivable 9,757 30,532 12,293
Total Current Assets 3,657,793 16,968,077 6,761,230
Noncurrent Assets:
Land and Other Nondepreciable Assets - - -
Capital Assets, Net of Accum. Depreciation - 32,917 23,989
Total Noncurrent Assets - 32,917 23,989
Total Assets 3,657,793 17,000,994 6,785,219
DEFERRED OUTFLOWS OF RESOURCES
Related to Pensions 58,352 143,590 148,170
LIABILITIES
Current Liabilities:
Accounts Payable 10,996 2,418,921 92,648
Accrued Wages and Benefits Payable 5,199 36,660 12,815
Claims and Judgments Payable 1,264,822 1,164,891 3,776,208
Due to Other Governmental Units - 1,379 -
Accrued Comp.Absences Payable 3,451 7,202 7,647
Total Current Liabilities 1,284,468 3,629,053 3,889,318
Noncurrent Liabilities:
Accrued Comp.Absences Payable 13,805 28,810 30,587
OPEB Liability 4,000 55,000 46,000
Net Pension Liability 183,696 241,078 207,372
Total Noncurrent Liabilities 201,501 324,888 283,959
Total Liabilities 1,485,969 3,953,941 4,173,277
DEFERRED INFLOWS OF RESOURCES
Related to Pensions 12,323 29,512 30,260
Related to OPEB 679 9,334 7,806
Total Deferred Inflows of Resources 13,002 38,846 38,066
NET POSITION
Investment in Capital Assets - 32,917 23,989
Unrestricted 2,217,174 13,118,880 2,698,057
Total Net Position $ 2,217,174 $ 13,151,797 $ 2,722,046
H-1
Fleet
Management
Fund Total
$ 384,008 $ 5,378,225
2,133,660 24,133,766
- 51,012
21,127 193,441
- 116,869
6,008 58,590
2,544,803 29,931,903
54,000 54,000
723,106 780,012
777,106 834,012
3,321,909 30,765,915
471,164 821,276
38,302 2,560,867
49,110 103,784
- 6,205,921
875 2,254
21,770 40,070
110,057 8,912,896
87,079 160,281
438,000 543,000
955,502 1,587,648
1,480,581 2,290,929
1,590,638 11,203,825
98,294 170,389
74,331 92,150
172,625 262,539
777,106 834,012
1,252,704 19,286,815
$ 2,029,810 $ 20,120,827
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, 2018
Workers' Group Risk
Compensation Insurance Management
Fund Fund Fund
Operating Revenues:
Charges for Services $ 2,084,803 $ 22,110,832 $ 1,972,306
Miscellaneous 194,836 50,059 1,077
Total Operating Revenues 2,279,639 22,160,891 1,973,383
Operating Expenses:
Personnel Services 183,721 347,389 384,061
Operations 681,115 1,788,862 2,855,577
Depreciation and Amortization - 2,083 1,577
Asserted and Paid Claims 2,315,420 15,957,996 2,125,637
Total Operating Expenses 3,180,256 18,096,330 5,366,852
Operating Income (Loss) (900,617) 4,064,561 (3,393,469)
Non-Operating Revenues (Expenses):
Investment Income 28,370 146,223 59,768
Insurance Recoveries 98,246 290,336 3,513,864
Total Non-Operating Revenues (Expenses) 126,616 436,559 3,573,632
Income (Loss) Before Transfers (774,001) 4,501,120 180,163
Other Financing Sources (Uses):
Transfers to Other Funds (61,030) (153,030) (510,554)
Change in Net Position (835,031) 4,348,090 (330,391)
Net Position-October 1 2,915,527 8,804,732 2,890,559
Restatement - Change in Accounting Principle 136,678 (1,025) 161,878
Net Position-October 1, restated 3,052,205 8,803,707 3,052,437
Net Position-September 30 $ 2,217,174 $ 13,151,797 $ 2,722,046
H-3
Fleet
Management
Fund Total
$ 2,346,454 $ 28,514,395
1,091 247,063
2,347,545 28,761,458
1,461,927 2,377,098
829,469 6,155,023
57,999 61,659
- 20,399,053
2,349,395 28,992,833
(1,850) (231,375)
30,829 265,190
- 3,902,446
30,829 4,167,636
28,979 3,936,261
(367,760) (1,092,374)
(338,781) 2,843,887
2,629,393 17,240,211
(260,802) 36,729
2,368,591 17,276,940
$ 2,029,810 $ 20,120,827
H-4
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2018
Workers' Group Risk
Compensation Insurance Management
Fund Fund Fund
Operating Activities:
Cash Received for Services $ 2,084,803 $ 22,135,336 $ 2,210,595
Cash Received from Insurance Recoveries 98,246 290,336 3,513,864
Cash Payments to Suppliers for Goods and Svcs (683,168) (1,433,045) (2,783,051)
Cash Payments for Employee Services (179,939) (370,888) (409,193)
Cash Payments for Claims (1,820,654) (15,948,521) (194,905)
Cash Received from (Paid to) Other Sources (21,599) 484,728 -
Other Operating Revenue 196,874 51,656 1,742
Net Cash Provided by (Used in)
Operating Activities (325,437) 5,209,602 2,339,052
Noncapital Financing Activities:
Transfers to Other Funds (61,030) (153,030) (510,554)
Net Cash Provided by (Used in) Noncapital
Financing Activities (61,030) (153,030) (510,554)
Capital and Related Financing Activities:
Acquisition of Capital Assets 868 (35,000) (1,531)
Net Cash Provided by (Used in) Capital and
Related Financing Activities 868 (35,000) (1,531)
Investing Activities:
Investment Income 28,370 146,223 59,768
Proceeds from Sales and Maturities of Investments 335,719 (4,882,539) (1,729,758)
Purchase of Investment Securities 139,099 494,666 213,987
Net Cash Provided by (Used in) Investing Activities 503,188 (4,241,650) (1,456,003)
Net Increase (Decrease) in Cash and
Cash Equivalents 117,589 779,922 370,964
Cash and Cash Equivalents:
October 1 584,233 2,434,009 707,500
September 30 $ 701,822 $ 3,213,931 $ 1,078,464
H-5
Fleet
Management
Fund Total
$ 2,346,454 $ 28,777,188
- 3,902,446
(839,077) (5,738,341)
(1,658,016) (2,618,036)
- (17,964,080)
(9,211) 453,918
2,001 252,273
(157,849) 7,065,368
(367,760) (1,092,374)
(367,760) (1,092,374)
(12,992) (48,655)
(12,992) (48,655)
30,829 265,190
310,529 (5,966,049)
114,113 961,865
455,471 (4,738,994)
(83,130) 1,185,345
467,138 4,192,880
$ 384,008 $ 5,378,225
(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, 2018
Workers' Group Risk
Compensation Insurance Management
Fund Fund Fund
Reconciliation of Operating Income (Loss)
to Net Cash Provided by(Used in)
Operating Activities:
Operating Income (Loss) $ (900,617) $ 4,064,561 $ (3,393,469)
Adjustments to Reconcile Operating Income (Loss)
to Net Cash Provided by (Used in) Operating
activities:
Depreciation and Amortization - 2,083 1,577
Nonoperating Income-Insurance Recoveries 98,246 290,336 3,513,864
Change in Assets, Liabilities, and Deferrals:
(Increase) Decrease in Accounts Receivable - 24,504 238,289
(Increase) Decrease in Due from Other Gov't Units (161) 24,365 -
(Increase) Decrease in Due fm Constitutional Ofcrs (19,060) 459,012 -
(Increase) Decrease in Interest Receivable 2,038 1,597 665
Increase (Decrease) in Accounts Payable (2,053) 355,817 72,526
Increase (Decrease) in Accrued Wages/Benefits (905) 1,906 1,226
Increase (Decrease) in Claims/Judgments Payable 494,766 9,475 1,930,732
Increase (Decrease) in Due to Other Gov't Units - 1,351 -
Increase (Decrease) in Due to Constitutional Ofcrs (2,378) - -
Increase (Decrease) in Comp. Absences Payable 1,568 7,499 (4,974)
Increase (Decrease) in OPEB Liability (3,072) (42,218) (35,308)
Increase (Decrease) in Pension Liability 19,190 46,778 48,163
Increase (Decrease) in Deferred Outflows (20,151) (64,010) (58,741)
Increase (Decrease) in Deferred Inflows 7,152 26,546 24,502
Total Adjustments 575,180 1,145,041 5,732,521
Net Cash Provided by (Used in)
Operating Activities $ (325,437) $ 5,209,602 $ 2,339,052
Noncash Investing, Capital, and Financing Activities:
(Loss)on Disposition of Assets $ - $ - $ -
Change in Fair Value of Investments $ - $ - $ -
Cash Reconciliation:
Unrestricted $ 701,822 $ 3,213,931 $ 1,078,464
H-7
Fleet
Management
Fund Total
$ (1,850) $ (231,375)
57,999 61,659
- 3,902,446
- 262,793
(10,137) 14,067
51 440,003
910 5,210
(9,608) 416,682
7,033 9,260
- 2,434,973
875 2,226
- (2,378)
6,953 11,046
(336,194) (416,792)
154,289 268,420
(152,160) (295,062)
123,990 182,190
(155,999) 7,296,743
$ (157,849) $ 7,065,368
$ 384,008 $ 5,378,225
H-8
MONROE COUNTY, FLORIDA
COMPREHENSIVE PLAN LAND AUTHORITY
STATEMENT OF NET POSITION
SEPTEMBER 30, 2018
ASSETS AND DEFERRED OUTFLOWS OF RESOURCES
Cash and investments $ 12,947,342
Due from BOCC 647,752
Due from State of Florida 57,123
Mortgages receivable 8,769,025
Equipment, net of accumulated depreciation 826
Capital assets-land 31,101,288
Intangible assets 14,014,127
Total assets 67,537,483
Deferred Outflows of Resources 131,690
LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND NET POSITION
Current liabilities:
Accounts payable 659
Accrued wages 11,673
Compensated absences 22,219
Total current liabilities 34,551
Noncurrent liabilities:
Compensated absences 46,482
Net pension liability 278,862
Net other postemployment benefits liability 83,326
Total noncurrent liabilities 408,670
Total liabilities 443,221
Deferred Inflows of Resources 30,345
Net position:
Investment in capital assets 45,116,241
Restricted 6,130,049
Unrestricted 15,949,317
Total net position $ 67,195,607
I-1
MONROE COUNTY, FLORIDA
COMPREHENSIVE PLAN LAND AUTHORITY
STATEMENT OF ACTIVITIES
YEAR ENDED SEPTEMBER 30, 2018
General revenues:
Intergovernmental $ 4,576,630
Investment income 212,732
Total general revenues 4,789,362
Program expenses:
Assistance with State land purchases 155,100
General government 422,730
Total program expenses 577,830
Increase in net position 4,211,532
Net position, beginning of year 63,145,320
Restatement of beginning net position (see Note 13) (161,245)
Net position, beginning of year, restated 62,984,075
Net position, end of year $ 67,195,607
1-2
�I% Cherry Bekeerr'
so CPAs&Advisors
Report of Independent Auditor on Internal Control Over
Financial Reporting and on Compliance and Other Matters
Based on an Audit of Financial Statements Performed in
Accordance with Government Auditing Standards
To the 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 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, 2018, 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 18, 2019 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.
Internal Control Over Financial Reporting
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.
A deficiency in internal control exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent or detect and correct
misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal
control, such that there is a reasonable possibility that a material misstatement of the Board's financial
statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a
deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet
important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section
and was not designed to identify all deficiencies in internal control that might be material weaknesses or
significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal
control that we consider to be material weaknesses. However, material weaknesses may exist that have not
been identified.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the 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
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and
the results of that testing, and not to provide an opinion on the effectiveness of the 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 18, 2019
J-2
�1% Cherry Bekaert
so CPAs&Advisors
Independent Auditor's Management Letter
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 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, 2018, and have issued our report thereon dated March 18, 2019.
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 Reporting Requirements
We have issued our Report of Independent Auditor on Internal Control over Financial Reporting and on
Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with
Government Auditing Standards; 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 18, 2019, 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 AppendixA 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.
Financial Condition and Management
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. In connection with our audit, we did not have any such
recommendations.
Additional Matters
Section 10.554(1)(i)3., Rules of the Auditor General, requires us to communicate noncompliance with provisions
of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an
effect on the financial statements that is less than material but which warrants the attention of those charged
with governance. In connection with our audit, we did not have any such findings.
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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 18, 2019
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MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
MANAGEMENT LETTER COMMENTS (PRIOR) -APPENDIX A
2017-001 Late Payments
Observation: During our audit work we noted that the P-cards were not paid timely due to the time it takes to
accumulate all of the necessary documentation from the various County departments.
Current Year Follow-Up:
The issue has been addressed by the County in the current year. Testing over P-cards has been performed in
the current year with no noted issues.
2017-002 PFC Reconciliations
Observation: During our audit we noted that the reconciliations of the SOAR reports to the general ledger were
not made timely due to staffing changes however no reporting errors occurred.
Current Year Follow-Up:
The issue has been addressed by the County in the current year. Testing over PFC has been performed in the
current year with no noted issues.
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�1% Cherry Bekaert"'
so CPAs&Advisors
Report of Independent Accountant on Compliance
with Local Government Investment Policies
To the Clerk Ex Officio, Mayor and
Board of County Commissioners of
Monroe County, Florida:
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, for the year ended
September 30, 2018. Management of the Board is responsible for the Board's compliance with the specified
requirements. Our responsibility is to express an opinion on the Board's compliance with the specified
requirements based on our examination.
Our examination was conducted in accordance with attestation standards established by the American Institute
of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain
reasonable assurance about whether the Board complied, in all material respects, with the specified
requirements referenced above. An examination involves performing procedures to obtain evidence about
whether the Board complied with the specified requirements. The nature, timing and extent of the procedures
selected depend on our judgment, including an assessment of the risks of material noncompliance, whether due
to fraud or error. We believe that the evidence obtained is sufficient and appropriate to provide a reasonable
basis for our opinion.
Our examination does not provide a legal determination on the Board's compliance with the specified
requirements.
In our opinion, the Board complied, in all material respects, with the local investment policy requirements of
Section 218.415, Florida Statutes, during the year ended September 30, 2018.
The purpose of this report is to comply with the audit requirements of Section 218.415, Florida Statutes, and
Rules of the Auditor General.
Orlando, Florida
March 18, 2019
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