Fiscal Year 2010 MONROE COUNTY, FLORIDA
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED
SEPTEMBER 30, 2010
DANNY L. KOLHAGE
CLERK OF THE CIRCUIT COURT
PREPARED BY:
CLERK OF THE CIRCUIT COURT FINANCE DEPARTMENT
SANDRA CARLILE
FINANCE DIRECTOR
THIS PAGE INTENTIONALLY LEFT BLANK
MONROE COUNTY, FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2010
PAGE
INTRODUCTORY SECTION
Transmittal Letter of the Clerk of the Circuit Court Al -A5
Certificate of Achievement for Excellence in Financial Reporting A6
List of Elected and Appointed Officials A7
Organizational Chart A8
FINANCIAL SECTION
Independent Auditors' Report Bl - B2
Management's Discussion and Analysis Cl - C12
Basic Financial Statements:
Government-Wide Financial Statements
Statement of Net Assets Dl - D2
Statement of Activities D3 - D4
Fund Financial Statements
Balance Sheet-Governmental Funds El - E2
Reconciliation of the Balance Sheet of Governmental Funds to the
Statement of Net Assets E3
Statement of Revenues, Expenditures and Changes in Fund Balances-
Governmental Funds E4 - E5
Reconciliation of the Statement of Revenues, Expenditures, and Changes in
Fund Balances of Governmental Funds to the Statement of Activities E6
Statement of Revenues, Expenditures and Changes in Fund Balances- Budget and Actual
Major Governmental Funds:
General Fund E7 - Ell
Fine and Forfeiture Fund E12 - E13
Governmental Grants Fund E14 - E17
HIDTA Grants Fund E18
Comprehensive Plan Land Authority Fund E19
Statement of Net Assets - Proprietary Funds E20 - E23
Statement of Revenues, Expenses and Changes in Fund Net Assets -
Proprietary Funds E24 - E25
Statement of Cash Flows- Proprietary Funds E26 - E29
Statement of Fiduciary Net Assets - Fiduciary Funds E30
Statement of Changes in Fiduciary Net Assets - Fiduciary Funds E31
Notes to the Financial Statements Fl - F36
Combining and Individual Fund Statements and Schedules:
Combining Balance Sheet - NonMajor Governmental Funds Gl - G14
Combining Statement of Revenues, Expenditures and Changes in Fund
Balances -NonMajor Governmental Funds G15- G28
Schedules of Revenues, Expenditures and Changes in Fund Balances-Budget and Actual
Special Revenue Funds:
Affordable Housing Programs G29
Road and Bridge Fund G30
MONROE COUNTY, FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2010
PAGE
Tourist Development, All Districts, Two Cent G31
Tourist Development, Administration and Promotional, Two Cent G32
Tourist Development, District#One G33
Tourist Development, District#Two G34
Tourist Development, District#Three G35
Tourist Development, District#Four G36
Tourist Development, District#Five G37
Impact Fees - Roadways G38
Impact Fees - Parks and Recreation G39
Impact Fees- Libraries G40
Impact Fees - Solid Waste G41
Impact Fees - Police Facilities G42
Impact Fees - Fire and EMS G43
Impact Fees- Employee Fair Share Housing G44
Fire and Ambulance, District#1 - Lower and Middle Keys G45
Upper Keys Health Care Special Taxing District G46
Unincorporated Area Service District- Parks and Recreation G47
Unincorporated Area Service District - Planning, Building and Zoning G48 -G49
Local Housing Assistance G50
Municipal Policing G51
911 Enhancement Fees G52
Duck Key Security District G53
Boating Improvement G54
Miscellaneous Special Revenue G55 - G56
Environmental Restoration G57
Law Enforcement Trust G58
Court Facility Fees G59
Drug Abuse Trust G60
Marathon Municipal Service Taxing Unit G61
Bay Point Municipal Service Taxing Unit G62
Big Coppitt Municipal Service Taxing Unit G63
Key Largo Municipal Service Taxing Unit G64
Stock Island Wastewater G65
Cudjoe-Sugarloaf Municipal Service Taxing Unit G66
Conch Key Municipal Service Taxing Unit G67
Long Key-Layton Municipal Service Taxing Unit G68
Duck Key Municipal Service Taxing Unit G69
Building Fund G70
Sheriff s Commissary G71
Sheriffs Impact Support G72
Sheriffs Off-Duty G73
Sheriffs Grants G74
Sheriffs Teen Court G75
Sheriffs South Florida Law Enforcement Trust G76
Sheriffs Shared Asset Forfeiture G77
Sheriffs Federal Forfeiture G78
MONROE COUNTY, FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2010
PAGE
Sheriffs Contract Administration G79
Sheriffs Airport Services G80
Sheriffs Law Enforcement Trust G81
Sheriffs State Forfeiture G82
Sheriffs Interagency Communications G83
Sheriffs E911 G84
Sheriffs Trauma Star G85
Sheriffs Radio Communications G86
Clerk's Records Modernization G87
Clerk's Court Related G88
Schedules of Revenues, Expenditures and Changes in Fund Balances- Budget and Actual
Major Governmental Funds:
One Cent Infrastructure Surtax Capital Project Fund G89
Infrastructure Sales Surtax Revenue Bonds, Series 2007 Capital Projects Fund G90
All Debt Service Funds G91 - G92
Combining Statement of Net Assets- Internal Service Funds G93 - G94
Combining Statement of Revenues, Expenses and Changes in Fund Net Assets -
Internal Service Funds G95 - G96
Combining Statement of Cash Flows - Internal Service Funds G97 - G100
Combining Statement of Fiduciary Net Assets-All Agency Funds G101
Combining Statement of Changes in Fiduciary Net Assets -All Agency Funds G102 - G103
STATISTICAL SECTION
Introduction H1
Net Assets by Component H2
Changes in Net Assets 1-13-1-15
Governmental Activities Tax Revenues By Source H6
Fund Balances of Governmental Funds H7
Changes in Fund Balances of Governmental Funds 1-18-1-19
General Governmental Tax Revenues By Source H10
Assessed Value and Estimated Actual Value of Taxable Property H11
Direct and Overlapping Governments H12
Principal Property Taxpayers H13
Property Tax Levies and Collections H 14
Ratios of Outstanding Debt by Type H15
Ratios of General Bonded Debt Outstanding H16
Direct and Overlapping Governmental Activities Debt H17
Legal Debt Margin Information H18
Pledged-Revenue Coverage - Governmental Activities H19
Pledged Revenue Bonds and Notes- Business-type Activities H2O
Demographic and Economic Statistics H21
Principal Employers H22
Full-time Equivalent County Government Employees by Function H23
Operating Indicators by Function H24
Capital Asset Statistics by Function H25
MONROE COUNTY, FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2010
PAGE
SINGLE AUDIT/GRANTS COMPLIANCE SCHEDULES
Independent Auditors' Report on Internal Control over Financial Reporting and on 11-12
Compliance and Other Matters Based on an Audit of Financial Statements
Performed in Accordance with Government Auditing Standards
Independent Auditors' Report on Compliance With Requirements That Could Have a 13-14
Direct and Material Effect on Each Major Federal Awards Program and State
Financial Assistance Project and on Internal Control Over Compliance in
Accordance with OMB Circular A-1 33 and Chapter 10.550, Rules of the Auditor
General
Schedule of Expenditures of Federal Awards and State Financial Assistance 15 - 118
Projects
Notes to Schedule of Expenditures of Federal Awards and State Financial 119
Assistance Projects
Schedule of Findings and Questioned Costs - Federal Awards Programs and State 120-122
Financial Assistance Projects
Summary Schedule of Corrective Action Plan - Federal Awards Programs and State 123
Financial Assistance Projects
Summary Schedule of Prior Audit Findings - Federal Awards Programs and State 124
Financial Assistance Projects
Independent Auditors' Management Letter J1-J2
MONROE COUNTY COURTHOUSE BRANCH OFFICE:
500 WHITEHEAD STREET,SUITE 101yUOUNTY
PLANTATION KEY
KEY WEST,FLORIDA 33040 GOVERNMENT CENTER
TEL.(305)294-4641 88820 OVERSEAS HIGHWAY
FAX(305)295-3663 PLANTATION KEY,FLORIDA 33070
TEL.(305)852-7145
BRANCH OFFICE: FAX(305)852-7146
MARATHON SUB COURTHOUSE
3117 OVERSEAS HIGHWAY CLERK OF THE CIRCUIT COURT ROTH BUILDING
MARATHON,FLORIDA 33050 50 HIGH POINT ROAD
TEL, (305)289-6027 MONROE COUNTY PLANTATION KEY,FLORIDA 33070
FAX(305)289-1745 www.clerk-of-the-court.com TEL.(305)952-7145
FAX(305)853-7440
March 31, 2011
The Honorable Heather Carruthers
Mayor, Board of County Commissioners
Monroe County, Florida
Dear Mayor Carruthers:
It is our pleasure to present to you, the Board of County Commissioners and the citizens, the Mo-
nroe County, Florida Comprehensive Annual Financial Report (CAFR) for the fiscal year ended
September 30, 2010. Chapter 218.39 of the Florida Statutes requires an independent certified
public accountant to audit the financial statements of counties in the State. In addition, the Federal
Single Audit Act, the Florida Single Audit Act and the federal OMB Circular A-1 33 require an inde-
pendent auditor to report on the government's internal controls and compliance with legal require-
ments concerning the administration of federal awards and state financial assistance. This report
is published to fulfill these requirements.
This report was prepared by the Finance Department of the Clerk of the Court. Responsibility for
both the accuracy of the presented data and the completeness and fairness of the presentation,
including all disclosures, rests with the Clerk of the Court as Chief Financial Officer of Monroe
County. We assert that, to the best of our knowledge and belief, this financial report is complete
and reliable in all material aspects. It is presented in a format designed to fairly present the finan-
cial position and results of operations of Monroe County as measured by the financial activity of its
various funds; and that all disclosures needed to allow the reader to gain a comprehensive under-
standing of the County's financial activity have been included.
The County has established a comprehensive internal control framework that is designed both to
protect the County's assets from loss, theft or misuse and to compile sufficient reliable accounting
information for financial statement preparation in conformity with United States generally accepted
accounting principles (GAAP) established by the Government Accounting Standards Board. Be-
cause the cost of internal controls should not outweigh their benefits, the objective is to provide
reasonable rather than absolute assurance that the financial statements will be free of material
misstatement.
Cherry, Bekaert & Holland, L.L.P. have issued an unqualified ("clean") opinion on the Monroe
County, Florida financial statements for the year ended September 30, 2010. The independent
auditors' report is located at the front of the financial section of this report.
A-1
Management's discussion and analysis (MD&A) can be found immediately following the indepen-
dent auditor's report and provides a narrative introduction, overview and analysis of the basic fi-
nancial statements. This letter of transmittal is designed to complement the MD&A and should be
read in conjunction with it.
Monroe County Profile
Basic Information
Monroe County was constitutionally formed in 1823. It is comprised of a string of subtropical isl-
ands that stretch more than one hundred miles into the Atlantic Ocean. These islands are con-
nected in a chain-like fashion to the mainland by a series of forty-two bridges. The County seat,
Key West, is approximately one hundred fifty miles southwest of Miami. Havana, Cuba lies a mere
ninety miles to the south.
Monroe County is a non-charter county established under the Constitution and the laws of the
State of Florida. Legislative authority and policy decisions are vested in the Board of County
Commissioners consisting of the mayor and four other members, all of whom are elected. The
operation of other specific government functions resides with five Constitutional Officers. These
Offices are elective and their titles indicative of their specific function. The positions are the Clerk
of the Court, Property Appraiser, Sheriff, Supervisor of Elections and Tax Collector. Monroe
County provides a full range of services including roads, health and social services, emergency
medical services, park and recreational services, solid waste services, airport services and other
governmental services.
Reporting Entity
For financial reporting purposes, the County's reporting entity consists of the Board of County
Commissioners, the Constitutional Officers and the Monroe County Comprehensive Plan Land Au-
thority. The Monroe County Comprehensive Plan Land Authority is legally separate, but in sub-
stance part of Monroe County's operations and a part of the County's financial responsibilities. Ac-
cordingly, it is reported as a blended component unit. Additional information on component units
can be found in the notes to the financial statements. The Monroe County School Board and the
Monroe County Mosquito Control District have not met the established criteria for inclusion in the
reporting entity, and accordingly, are excluded from this report.
Budget
Formal budgetary integration is employed as a management control device during the year for all
fund types except as described in the notes to the financial statements. Constitutional officers
funded by the Board must submit their budgets by June 1 of each year. Monroe County follows
the laws of Florida regarding the control, adoption and amendment of the budget during each fis-
cal year. The Board conducts budget meetings on departmental budgets and constitutional officer
requests. Based on the information presented at the meetings, a tentative budget is presented to
the public by Board resolution. The public then responds to the tentative budget at public hear-
ings. A final public hearing is then held and the final budget is adopted. The County Commission
has increased the level of budgetary control by requiring a County Commission resolution for all
cost center (departmental) budgetary changes.
A-2
Economic Condition
Local Economy
Monroe County occupies a unique and very beautiful corner of the U.S. Our subtropical chain of
islands offers mild climate year-round and extensive recreational water activities. This makes the
Florida Keys and Key West a major domestic and international tourist destination. Seven of the top
ten taxpayers in Monroe County are in the hospitality industry. Airplane passenger arrivals in-
creased from 2009 by 15.5%. Tourist and recreational sales have increased by 4.0% and hotel
room rentals have increased by 2.6%.
Property values in 2010 decreased 15.9% from the prior year. The nationwide real estate market
in 2011 has experienced further decline and Monroe County expects a similar decline. However,
over a ten year period, property tax collections have risen 59.4%. Over the same period, total as-
sessed value of taxable property has increased 124.2%. The growth in these long term economic
indicators is supplemented by an increase in taxable sales of 1.7% from 2009 levels. It appears
that the local economy is beginning to show some signs of recovery.
The County's unemployment rate of 8.0% at September 30, 2010 is below the state and national
rates of 12.0% and 9.4%, respectively.
Local revenues and expenditures continue to be affected by intergovernmental pressures from re-
duced state aid, lack of funding for state-mandated programs and services, property tax reform,
the national economic downturn, higher property insurance costs, and the increased demands for
stronger public safety services, affordable health insurance and affordable housing.
Long-term Financial Planning
The County has developed the Monroe County Year 2010 Comprehensive Plan. This plan has
been approved by the state, and describes the County's goals in the areas of land use; conserva-
tion and coastal management; traffic circulation; mass transit; ports, aviation and related facilities;
affordable housing; potable water; solid waste; sanitary sewer; storm water drainage; natural
groundwater aquifer recharge; recreation and open space; intergovernmental coordination; and
capital improvements.
The County is balancing the use of ad valorem tax revenues with the maintenance of General
Fund reserves used to insulate the General Fund from revenue fluctuations due to disasters of any
kind and provide adequate working capital for operations. The Board continues to respond to the
ongoing economic conditions by maintaining rigorous cost controls, instituting hiring freezes which
reduce County staff, renegotiating contracts, and scrutinizing the cost benefit of outside contrac-
tors. The Board continues to focus on its efforts to balance costs, services to Monroe County citi-
zens, and reductions in its revenue base.
The County provides health care coverage for 370 retirees. The County has implemented the re-
quirements of GAS13 Statement No. 45, Accounting and Financial Reporting by Employers for
Postemployment Benefits Other Than Pensions in 2008. The Board has reviewed estimates of the
unfunded cost for future years' benefits, and staff is developing strategies to manage the financial
impact to the County. As the actual versus expected cost of retiree health care coverage is moni-
tored, provisions of the plan may be modified as part of the management strategy.
A-3
Relevant Financial Policies
During 2008, the Board approved an appropriation policy whereby 70%-82.5% of estimated ending
fund balances are appropriated in the budget process as opposed to the previous policy of 77.5%
of estimated fund balance. In addition, 95% of the fund balance in the One Cent Infrastructure
Surtax Fund may be appropriated.
,Maior Initiatives
Several projects were completed in 2010 in furtherance of the County's Comprehensive Plan.
Completed capital projects included two fire stations, a new medical examiner facility, the upper
keys government center and the new judicial complex. The County plans to continue to improve
and upgrade its facilities with a new use for the Key West Courthouse Annex replaced by the new
judicial complex, a new bicycle path in Key Largo, the construction of another fire station, rebuild-
ing the Geiger Key bridge and the renovation of the Marathon courthouse. These improvements
are to be funded from the County's capital project funds and the proceeds of a bond issue collate-
ralized by sales tax revenues.
The County took action to stimulate the local economy by increasing advertising efforts, particular-
ly in the lower and middle keys. The increased costs were funded by an increase in Tourist De-
velopment taxes initiated late in 2009.
The state has given the County an unfunded mandate to build wastewater collection and treatment
systems which provide service to the entire Florida Keys. The Florida Keys Municipal service tax-
ing districts have been created to support the cost of wastewater projects in Conch Key, Bay Point,
Big Coppitt, Key Largo, Stock Island, Cudjoe and Sugarloaf Keys, Long Key-Layton, and Duck
Key. The Big Coppitt, Duck Key, Key Largo, Shark Key, Geiger Key and Rockland Key wastewa-
ter projects are under construction. The Cudjoe Regional project has been suspended until suffi-
cient funding for the project is in place. The Stock Island, Bay Point, City of Layton, Key Colony
Beach, Little Venice and Conch Key projects have been completed. The wastewater projects are
funded as construction progresses by grants, capital project funds, the proceeds of revenue notes
provided by the Florida Rural Utility Financing Commission and homeowner assessments.
Awards and Acknowledgments
The Government Finance Officers Association of the United States and Canada (GFOA) awarded
a Certificate of Achievement for Excellence in Financial Reporting to Monroe County, Florida for its
Comprehensive Annual Financial Report for the fiscal year ended September 30, 2009. This was
the twenty second consecutive year that the government has achieved this prestigious award. In
order to be awarded a Certificate of Achievement, a government must publish an easily readable
and efficiently organized comprehensive annual financial report. This report must satisfy both U.S.
generally accepted accounting principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. We believe that our current
comprehensive annual financial report continues to meet the Certificate of Achievement Program's
requirements and we are submitting it to the GFOA to determine its eligibility for another certifi-
cate.
The County also submits its budget document to GFOA, and has received GFOA's Distinguished
Budget Presentation Award for twelve years.
A-4
'this report is the product of the dedication of the Finance Department under the direction of the
Clerk of the Court of Monroe County as Auditor and Chief Financial Officer to the Board of County
Commissioners. We would like to express our appreciation to the entire Finance Department, as
well as other County departments, for their assistance in the preparation of this report. We also ex-
tend our thanks and appreciation to our independent auditors Cherry, Bekaert & Holland, L.L.P. for
their outstanding efforts and assistance. In closing, we thank the County Commissioners for their
interest and support to us throughout the year.
Sincerely,
7/
'1Ta_nny\4. Kolhage Sandra Carlile
Clerk of the Circuit Court Finance Director
and Chief Financial Officer
A-5
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
Mon-roe County
Florida
For its Comprehensive.Annual
Financial Report
for the Fiscal Year Ended
September 30,2009
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports(CAFRs)achieve the highest
standards in government accounting
and financial reporting.
EA
y pRI President
Executive Director
A-6
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
HEATHER CARRUTHTRS, MAYOR
DISTRICT 3
KIM WIGINGTON GEORGE NEUGTNT
DISTRICT 1 DISTRICT 2
DAVID RICE SYLVIA MURPHY
DISTRICT 4 DISTRICT 5
COUNTY ADMINISTRATOR
ROMAN GASTTSI
CLERK OF THE CIRCUIT COURT AND
CHIEF FINANCIAL OFFICER
DANNY L. KOLHAGE
A-7
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CV141 IFIED VUBLIC
ACCOUMANTS&
CONSULTANTS
INDEPENDENT AUDITORS' REPORT
To the Honorable Mayor and Board
of County Commissioners of
Monroe County, Florida:
We have audited the accompanying financial statements of the governmental activities, the
business-type activities, each major fund and the aggregate remaining fund information of
Monroe County, Florida (the "County") as of and for the year ended September 30, 2010, which
collectively comprise the County's basic financial statements as listed in the table of contents.
These financial statements are the responsibility of the County's management. 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 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 includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and the significant estimates made by
management, as well as evaluating the overall financial statement presentation. We believe that
our audit provides a reasonable basis for our opinions.
In our opinion, based on our audit, the financial statements referred to above present fairly, in all
material respects, the respective financial position of the governmental activities, the business-
type activities, each major fund, and the aggregate remaining fund information of the County as
of September 30, 2010, and the respective changes in financial position and cash flows, where
applicable, thereof and the respective budgetary comparison for the General Fund, Fine and
Forfeiture Fund, Governmental Grants Fund, HIDTA Grants Fund, and Comprehensive Land
Authority Fund for the year then ended in conformity with accounting principles generally
accepted in the United States of America.
In accordance with Government Auditing Standards, we have also issued our report dated
March 31, 2011 on our consideration of the County's internal control over financial reporting and
on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant
agreements and other matters. The purpose of that report is to describe the scope of our testing
of internal control over financial reporting and compliance and the results of that testing, and not
to provide an opinion on the internal control over financial reporting or on compliance. That
report is an integral part of an audit performed in accordance with Government Auditing
Standards and should be considered in assessing the results of our audit.
B-1
The management's discussion and analysis as listed in the table of contents is not a required
part of the basic financial statements but is supplementary information required by the
Governmental Accounting Standards Board. We have applied certain limited procedures, which
consisted principally of inquiries of management regarding the methods of measurement and
presentation of the required supplementary information. However, we did not audit the
information and express no opinion on it.
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise the County's basic financial statements. The introductory section,
combining and individual fund statements and schedules and the statistical section as listed in
the foregoing table of contents are presented for purposes of additional analysis and are not a
required part of the basic financial statements. The accompanying Schedule of Expenditures of
Federal Awards and State Financial Assistance Projects are also presented for the purpose of
additional analysis as required by the U.S. Office of Management and Budget Circular A-133,
Audits of States, Local Governments, and Non-Profit Organizations, and Chapter 10.550, Rules
of the Auditor General, and is not a required part of the basic financial statements. The
combining and individual fund statements and schedules and the accompanying Schedule of
Expenditures of Federal Awards and State Financial Assistance Projects have been subjected
to the auditing procedures applied in the audit of the basic financial statements and, in our
opinion, are fairly presented in all material respects in relation to the basic financial statements
taken as a whole. The introductory and statistical sections have not been subjected to the
auditing procedures applied in the audit of the basic financial statements and, accordingly, we
express no opinion on them.
CHERRY, BEKAERT& HOLLAND, L.L.P.
Orlando, Florida
March 31, 2011
B-2
Management's Discussion and Analysis
As Finance Department management under the direction of the Chief Financial Officer and Clerk of the
Circuit Court in Monroe County, we offer readers this narrative overview and analysis of the financial
activities of Monroe County Government for the fiscal year ended September 30, 2010. We encourage
readers to consider this information in conjunction with additional information furnished in the letter of
transmittal of the report and the basic financial statements for an overall view of Monroe County's
activities.
Financial Highlights
• Monroe County's total assets exceeded its liabilities at September 30, 2010 by $523,516,489,
an increase of $12,500,303. Net assets for governmental activities were $422,406,827 and
$101,109,662 for business-type activities.
• Unrestricted net assets, available for Monroe County's ongoing obligations to citizens and
creditors were $156,444,806, an increase of $5,187,055. Governmental activity unrestricted
net assets were $138,825,625. Business-type activity unrestricted net assets were
$17,619,181.
• At September 30, 2010 Monroe County's governmental funds statement reported combined
ending fund balances of$177,461,236. Of this amount, $158,850,079 remains in the various
fund types of Monroe County as unreserved.
• The General Fund reported a fund balance of $33,516,722, an increase from the last fiscal
year of $5,476,324. The County experienced a favorable General Fund budget variance,
mostly attributable to lower than anticipated expenditures.
• Bonded debt and loans of Monroe County decreased $17,211,317 in 2010. Monroe County's
percentage of bonded debt and loans compared to net assets decreased from 16.0% to
11.5%.
Overview of the Financial Statements
This discussion and analysis is intended to serve as an introduction to Monroe County Government's
basic financial statements, which include government-wide statements, fund statements, as well as
notes to the financial statements. This report also contains other supplementary information in addition
to the basic financial statements.
Government-Wide Financial Statements
Government-wide financial statements are designed to provide the reader with a broad overview of the
financial position of Monroe County and are similar to private-sector financial statements. They include
a Statement of Net Assets and a Statement of Activities. These statements appear on pages D-1
through D-4 of this report.
The Statement of Net Assets shows the County's assets less its liabilities at September 30, 2010. The
difference between these assets and liabilities is reported as net assets. Changes in net assets over
time may be indicative of an improving or deteriorating financial position. Net assets are reported in
three categories: 1) invested in capital assets, net of related debt, 2) restricted, and 3) unrestricted.
C-1
The Statement of Activities, which follows the Statement of Net Assets, presents information showing
how the net assets changed during fiscal year 2010. The statement presents all underlying events,
which contribute to the change, irrespective of the timing of the related cash flows. Thus, revenues and
expenses are reported in this statement for some items that will only affect cash flows in future fiscal
periods. Such items include revenues earned and expenses incurred but not yet paid as well as
unused vacation leave, all of which will produce changes in cash in a future fiscal period.
Both statements attempt to distinguish functions of Monroe County that are principally supported by
taxes and intergovernmental revenues (governmental activities) from other functions that are intended
to recover all or a significant portion of their costs through user fees and charges for services
(business-type activities). Governmental activities reported in the statements include general
government, public safety, physical environment, transportation, economic environment, human
services, culture and recreation, and court related. Business-type activities include Monroe County's
airports, solid waste and landfill operations, and the Card Sound Road and Toll Bridge.
Fund Financial Statements
A fund is a grouping of related accounts that is used to maintain control over resources that have been
segregated for specific activities or objectives. Monroe County, like other state and local governments,
uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements.
All of the funds of Monroe County can be divided into three general categories: governmental,
proprietary and fiduciary funds.
Governmental Funds
Governmental Funds essentially account for the same functions as those reported in the government-
wide statements described above. However, unlike the government-wide statements, this set of
financial statements focuses on events that produce near-term inflows and outflows of spendable
resources available at the end of the fiscal year, which is a narrower focus than the government-wide
financial statements. Such information may be useful in evaluating the available spendable resources.
These statements appear on,pages E-1 through E-19 of this report.
It can be useful to compare the information presented for the governmental funds with similar
information presented for governmental activities in the government-wide statements. Therefore,
reconciliations are provided as a link between both the governmental fund statements and the
government-wide statements to assist in this comparison.
The governmental fund financial statements present financial information for the County's general,
special revenue, debt service and capital project funds. Governmental funds individually presented as
major funds in Monroe County's statements include: the General Fund, four Special Revenue Funds:
Fine and Forfeiture, Governmental Grants, HIDTA Grants and the Comprehensive Plan Land Authority,
the Debt Service fund and two capital project funds: One Cent Infrastructure Surtax and Infrastructure
Sales Surtax Revenue Bonds, Series 2007.
Although there are many smaller governmental funds in Monroe County, they have been presented in a
total column "Nonmajor Governmental Funds." These funds are presented individually in the combining
and individual fund statements section of the report.
C-2
Proprietary Funds
Monroe County maintains two different types of proprietary funds, enterprise and internal service. The
proprietary fund statements appear on E-20 through E-29 of this report.
Enterprise funds are used to report business-type activities in the government-wide financial
statements. Monroe County maintains four major enterprise funds: Municipal Service District-Waste,
Key West Airport, Card Sound Bridge, and the Marathon Airport. There are no non-major enterprise
funds.
Internal service funds are used to accumulate and allocate costs among Monroe County's various
functions. Monroe County uses internal service funds to account for insurance activities (worker's
compensation, group health and risk management) and fleet maintenance activities. Internal service
funds are presented in total in the fund financial statements but may be reviewed individually in the
combining and individual fund statements section of the report. Because these services predominantly
benefit governmental rather than business-type functions, they have been included within the
government-wide financial statements as governmental activities. They are also combined into a
single, aggregated presentation in the proprietary fund financial statements.
Fiduciary Funds
Monroe County uses fiduciary funds to account for resources held for the benefit of parties outside of
County government, such as assets held in trust and agency funds by Monroe County as an agent for
individuals. Fiduciary funds are not reflected in the government-wide financial statements because the
resources of those funds are not available to support Monroe County's own programs. The accounting
used for fiduciary funds is much like that used for proprietary funds. The fiduciary fund financial
statements appear on pages E-30 through E-31 of this report.
Notes to the Financial Statements
The notes to the financial statements provide additional information that is essential to a full
understanding of the data provided in both government-wide and fund financial statements. The notes
commence on page F-1 and continue throughout the entire F page section,
Other Information
Combining and individual statements and schedules mentioned earlier, which present details of non-
major funds used in governmental and enterprise funds, commence on page G-1 and continue
throughout the entire G page section. This section also includes the budget to actual schedules, and
statements for major capital project, internal service and agency funds.
Additional information about Monroe County can be found under the Statistical Section in the H page
section and the Single Audit Section in the I page section of this report.
Government-Wide Financial Analysis
Monroe County Net Assets (in thousands)
Governmental Business-type Total Primary
Activities Activities Government
2010 2009 2010 2009 2010 2009
Current and Other Assets $226,443 $223,578 $32,973 $39,963 $259,416 $263,541
C-3
Governmental Business-type Total Primary
Activities Activities Government
2010 2009 2010 2009 2010 2009
Capital Assets 293,755 297,945 89,104 87,817 382,859 385,762
Total Assets 520,198 521,523 122,077 127,780 642,275 649,303
Current/Other Liabilities 27,992 33,173 6,704 9,633 34,696 42,806
Long-Term Liabilities 69,799 75,276 14,263 20,205 84,062 95,481
Total Liabilities 97,791 108,449 20,967 29,838 118,758 138,287
Net Assets:
Invested in Capital Assets,
Net of Related Debt 255,014 258,757 74,034 72,612 329,048 331,369
Restricted 28,567 21,113 9,457 7,276 38,024 28,389
Unrestricted 138,826 133,204 17,619 18,054 156,445 151,258
Total Net Assets $422,407 $413,074 $101,110 $97,942 $523,517 $511,016
The overall financial position of Monroe County improved in both fiscal years 2010 and 2009. Changes
in net assets over time can be one of the best and most useful indicators of a government's financial
position. Monroe County's change in net assets for the fiscal years ending 2010 and 2009 were
$12,500,303 and $23,373,715, respectively. The 2010 increase in net assets was $10,873,412 less
than the prior year.
The largest portion of net assets for 2010 and 2009 is Monroe County's investment in capital assets
(e.g., land and depreciated buildings, infrastructure and equipment) less any outstanding debt related to
their acquisition. This category represents 62.9% and 64.8% of total primary government net assets for
fiscal years 2010 and 2009. Monroe County uses these capital assets to provide services to citizens;
consequently, these assets are not available for future spending. Although Monroe County's investment
in capital assets is reported net of related debt, it should be noted that the resources needed to repay
this debt must be provided from other sources, since the capital assets themselves cannot be used to
liquidate these liabilities.
Total primary government net assets above also include restricted net assets. Restricted net assets
are resources subject to external restriction on how they may be used. The restrictions reported for
business-type activities are comprised of the landfill closure and post closure costs and the Key West
Airport's debt service payments and passenger facility charges. Restrictions reported for governmental
activities are special purpose funds which report the use of resources as designated by external
entities.
The remaining component of net assets is unrestricted net assets. Unrestricted net assets may be
used to meet the County's ongoing obligations to citizens and creditors.
Current and other assets decreased in 2010 due to the use of restricted funds for construction projects
and other intended purposes and to repay related long-term debt. The decrease in current and other
assets was offset by an increase in mortgages receivable issued to eligible homeowners under the
terms of a housing assistance grant.
The decrease in capital assets occurred because several construction projects were completed in 2009
and 2010. The investment in capital assets in 2010 decreased as constructed assets were placed in
service and the depreciation apportioned to the current year was included in the County's operational
expenses.
C-4
The completion of construction projects reduced the amount of current and other liabilities in 2010. The
County reduced its long term liabilities by replacing temporary funding used for wastewater construction
projects with more favorable permanent financing. The County is also using every available source of
Key West Airport funds to retire the Key West Airport Revenue Bonds as soon as possible.
Comparison of Current Assets and Liabilities (in thousands)
A comparison of current assets as compared to current liabilities for both governmental and business-
type activities can be a good indication of Monroe County's ability to meet its current and existing
operational responsibilities. The ratios for the current and prior fiscal years are as follows:
Governmental Business-type
Activities Activities
2010 2009 2010 2009
Current Assets $217,475 $216,167 $ 22,806 _$ 26,491
Current Liabilities $ 27,992 $ 33,173 $ 6,704 $ 9,633
Ratio of Current Assets to
Current Liabilities 7.77 6.52 3.40 2.75
The schedule above demonstrates that Monroe County has more than adequate cash flows.
Monroe County Changes in Net Assets (in thousands)
Governmental Business-type Total Primary
Activities Activities Government
2010 2009 2010 2009 2010 2009
Revenues:
Charges for
Services $ 22,881 $ 25,534 $ 25,252 $ 20,029 $ 48,133 $ 45,563
Operating Grants
and Contributions 32,011 25,988 3,973 7,708 35,984 33,696
Capital Grants
and Contributions 4,991 10,640 2,849 8,658 7,840 19,298
General Revenues:
Property Taxes 81,685 81,181 - - 81,685 81,181
Other Taxes 50,813 44,609 50,813 44,609
State Revenue
Sharing 5,459 4,077 - - 5,459 4,077
Investment Income 2,179 5,122 312 770 2,491 5,892
Miscellaneous 1,940 7,230 12 20 1,952 7,250
Total Revenues 201,959 204,381 32,398 37,185 234,357 241,566
C-5
Governmental Business-type Total Primary
Activities Activities Government
2010 2009 2010 2009 2010 2009
Expenses:
General Government 36,176 34,407 - - 36,176 34,407
Public Safety 97,642 94,962 - - 97,642 94,962
Physical Environment 5,781 6,300 - - 5,781 6,300
Transportation 5,394 8,341 - - 5,394 8,341
Economic
Environment 21,843 19,111 21,843 19,111
Human Services 9,432 7,962 9,432 7,962
Culture and
Recreation 5,051 6,689 5,051 6,689
Court Related 9,439 9,149 9,439 9,149
Interest on Long-Term
Debt 2,230 2,594 2,230 2,594
Solid Waste - - 15,681 15,361 15,681 15,361
Toll Bridge - - 1,358 1,406 1,358 1,406
Key West Airport - - 10,077 10,088 10,077 10,088
Marathon Airport - - 1,753 1,822 1,753 1,822
Total Expenses 192,988 189,515 28,869 28,677 221,857 218,192
Change in Net Assets
Before Transfers 8,971 14,866 3,529 8,508 12,500 23,374
Transfers 362 (2,061) (362) 2,061 - -
Change in Net Assets 9,333 12,805 3,167 10,569 12,500 23,374
Net Assets, Beginning 413,074 400,269 97,942 87,373 511,016 487,642
Net Assets, Ending $422,407 $413,074 $101,109 $97,942 $523,516 $511,016
Governmental Activities
The graph on the next page represents a comparison of program revenues to program expenses for
governmental activities in fiscal years 2010 and 2009. It is apparent from these graphs that general
revenues were required to cover expenses in each of the functions noted.
C-6
Monroe County, Florida
Governmental Activities (in Millions)
For the year ended September 30, 2010
0 Program Revenues 0 Program Expenses
97.6
100.0 - -
80.0 -
60.0 -
40.0 - 36,2
35.0
71
21.8
20.0 - 11.8 , 5.8 5A 2.4 9.4 5.1 5.79.4
4 2.8 1.0 0.9 0.3
0.0 - F1
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CD 0 CD 25-
The largest revenue sources for governmental activities in 2010 are property taxes in the amount of
$81,685,080 and all other taxes totaling $50,813,024. Total taxes of$132,498,104 amounted to 65.6%
of Monroe County's governmental activity revenues excluding transfers. The second largest revenue
source is operating grants at 15.9% of governmental activity revenues excluding transfers.
The 2010 graph identifies the largest expense function as public safety amounting to $97,642.007.
This is 50.6% of the total expenses for governmental activities. The second largest function is general
government in the amount of$36,175,812 or 18.8% of total expenses for governmental activities. The
general government expenses include the Tax Collector, Property Appraiser, Clerk of the Circuit Court,
and the Supervisor of Elections.
Monroe County, Florida
Governmental Activities (in Millions)
For the year ended September 30, 2009
0 Program Revenues El Program Expenses
100.0 - 95.0
80.0 -
60.0 -
40.0 - 34.4 31
19.1
20.0 - 8.76.3 8.3 8.0 6.7 739.1
07 0.3 0.2
0.0 -
G) -0 M
C = m CD
0 G) 2: -0 < C
0 = 0 0
0 0 1< :;* 0 1
0 CD C
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C-7
The largest revenue sources for governmental activities in 2009 are property taxes in the amount of
$81,181,540 and all other taxes totaling $44,608,972. Total taxes of $125,790,512 amounted to 61.5%
of Monroe County's governmental activity revenues excluding transfers. The second largest revenue
source is operating grants at 12.7% of governmental activity revenues excluding transfers.
The 2009 graph identifies the largest expense function as public safety amounting to $94,962,495.
This is 50.1% of the total expenses for governmental activities. The second largest function is general
government in the amount of$34,407,356 or 18.2% of total expenses for governmental activities. The
general government expenses include the Tax Collector, Property Appraiser, Clerk of the Circuit Court,
and the Supervisor of Elections.
Business-Type Activities
The purpose of proprietary funds is to recover the majority of costs incurred in providing a service
through user fees and charges for that service. Charges for services revenues in 2010 amount to
$25,251,878 or 77.9% of all revenue sources. Other revenue sources include operating grants, capital
grants, contributions, investment income, and miscellaneous. Total revenues excluding transfers from
other funds were in excess of expenses excluding transfers to other funds by$3,529,353.
The change in net assets in 2010 was $3,167,088. This represents a decrease of$7,402,216 from the
prior year, mostly attributable to capital grants used in the prior year to fund the construction of the new
Key West Airport Terminal, and operating grants used to fund airport noise improvement projects. The
decreases were offset by increases in charges for services related to expanded airport facilities and
increases in basic fees for solid waste services.
Financial Analysis of Monroe County's Funds
Governmental Funds
As mentioned earlier in the Financial Highlights, Monroe County's governmental funds reported
combined fund balances of$177,461,236 at the end of the current fiscal year. This represents a 5.1%
increase from the prior year. Governmental funds' unreserved fund balance totals were $158,850,079
an increase of 8.2% from the prior year and 89.5% of the total fund balance. It should be noted that
$125,333,701 of the governmental unreserved fund balances are exclusively available for special
purposes, debt service or capital projects. Reserved fund balances are as follows: $5,283,528 to meet
current commitments (encumbrances) in the next fiscal year; $2,859,459 for Comprehensive Plan Land
Authority land and land rights acquisition; $8,376,579 for mortgage loans receivable; and $2,091,591
for payment of debt service. The Comprehensive Plan Land Authority is a blended component unit of
Monroe County and is reported as a major special revenue fund.
The General Fund is the chief operating fund of Monroe County and automatically, one of Monroe
County's major funds. At September 30, 2010, total fund balance in the general fund was $33,516,722.
Total revenues decreased $5,458,268 or 12.2% from the previous year. Revenue from taxes
decreased $5,076,154 due to a reduction of assessed property values offset by an increase in the
millage levied and the use of prior year reserves. Expenditures increased $204,676 or 0.26%.
Expenditures were approximately the same as the prior year among all expense categories.
C-8
Other Maior Fund Information (in thousands)
Fine and Forfeiture Governmental Grants HIDTA Grants
2010 2009 2010 2009 2010 2009
Revenues and Other
Sources $46,887 $43,544 $ 7,566 $ 11,787 $ 20,309 $ 21,004
Expenses and Other
Uses 45,265 45,649 9,077 9,067 20,309 21,004
Increase/(Decrease)in
Fund Balance $ 1,622 $(2,105) $ 1,511 $ 2,720 $ - $ -
Comprehensive Plan One Cent
Land Authority Infrastructure Surtax
2010 2009 2010 2009
Revenues and Other Sources $ 3,424 $ 2,722 $ 14,536 $ 15,571
Expenses and Other Uses 1,022 2,501 9,032 16„895
Increase/(Decrease)in
Fund Balance $ 2,402 $ 221 $ 5,504 $ (1,324)
Infrastructure Sales Surtax
Revenue Bonds Series
2007 Debt Service
2010 2009 2010 2009
Revenues and Other Sources $ 63 $ 801 $ 26,571 $ 6,459
Expenses and Other Uses 2,683 9,419 27,910 7,036
Increase/(Decrease)in
Fund Balance $ 2( 620) $ (8,618) $ (1,339) $ (577)
Fine and Forfeiture Special Revenue Fund Ad valorem taxes allocated to support law enforcement
related activities were increased to compensate for updated estimates of revenues from air ambulance
services and the use of accumulated fund balance in the prior year. Expenditures were stable with the
exception of rising insurance costs.
Governmental Grants Special Revenue Fund Expenditures necessary for the Big Coppitt wastewater
project significantly declined as did the related grant revenues. The project was substantially
completed in the current year. Grant revenues and expenditures increased due to the receipt of federal
ARRA grants. In addition, significant expenditures were incurred for deferred clean up costs caused by
Hurricane Rita which were not matched with revenues due to revenue recognition criteria.
HIDTA Grants Special Revenue Fund This fund is used to account for reimbursement grants funded
by the U.S. Department of Justice to fight drug trafficking. The volume of revenues and expenditures
has not significantly changed as programs established by the grantor have been continued.
C-9
Comprehensive Plan Land Authority Special Revenue Fund Revenues increased due to proceeds
from the sale of land and an increase in the value of investments. Expenses decreased as less land
was sold or otherwise transferred to other governmental units for conservation purposes.
One Cent Infrastructure Surtax Capital Proiects Fund The citizens of Monroe County approved a one
cent sales surtax which is the main revenue source in the fund. Revenues declined due to a legal
settlement received in the prior year, continued decline in investment revenues and the completion of a
project partially funded by a grant. The decline in revenues was offset by an increase in sales tax
revenues. Expenditures also decreased due to the completion of several projects.
Infrastructure Revenue Bonds, Series 2007 Capital Proiects Fund In 2007, Monroe County issued
$29,415,000 in Revenue Bonds to be paid from one cent sales surtax revenues. Revenues in the
current year were limited to investment revenues which have dropped as bond proceeds are used and
interest rates continue to drop. Revenues are also lower because a project funded by grants in the
prior year was completed this year. Expenditures have decreased due to the completion of two fire
stations. Wastewater projects are still ongoing, but one phase was substantially completed in the prior
year.
Debt Service The County is required to build a wastewater collection system for the Florida Keys. As
part of the financing plan for one phase of construction costs, the County secured interim financing
through the Florida Rural Utility Financing Commission. During the current year, the County secured
permanent financing through the Florida Department of Environmental Protection's Clean Water State
Revolving Loan Fund. The interim financing was retired using the proceeds of the permanent financing
during the current year.
Proprietary Funds
Proprietary fund statements provide the same information as in the business-type activities column of
the government-wide statements, but in greater detail and on a fund basis for enterprise funds and
internal service funds.
The Municipal Service District-Waste Enterprise Fund maintains Monroe County's landfills and transfer
sites. Monroe County continues to outsource the waste haul-out services through a major contract.
The revenues are pledged to meet the debt service payment requirements on the Monroe County,
Florida Solid Waste Disposal System Refunding Revenue Note, Series 2002. Basic service fees were
raised for the first time in fourteen years to compensate for the effect of lower fees generated by
construction projects.
Card Sound Bridge Enterprise Fund The Bridge is an alternative route to the "Eighteen Mile Stretch."
Revenues from tolls declined which is attributed to the difficult economy. Investment revenues are also
less due to the drop in interest rates.
The Key West Airport Enterprise Fund Revenues from operating and capital grants declined due to
the completion of the airport terminal project and a noise improvement project. In the prior year, the
County transferred additional funding to support the cost of the terminal which was not necessary in the
current year. The new terminal is generating additional revenues due to the additional facilities
available and an increase in enplanements.
Other factors concerning the finances of these three major funds have already been addressed in the
discussion of Monroe County's business-type activities.
The internal service funds include the Worker's Compensation Fund, Group Insurance Fund, Risk
Management Fund and the Fleet Management Fund. The self-insurance funds are an important part of
Monroe County's operations.
C-1 0
Internal service fund revenues declined as fewer insurance recoveries were collected, interest rates
continue to drop, and less fuel was sold to other local governments. However, interfund premiums
increased due to anticipated increases in self insurance claims. Expenses declined as actual claims
experience was better than expected. Operations expenses further decreased as less fuel was
purchased for resale and there was less need for insurance adjustor services.
Capital Assets
Monroe County's financial statements present capital assets in two categories: those assets subject to
depreciation, such as buildings, infrastructure, and equipment and those not subject to depreciation
such as land and construction in process.
Investment in capital assets for both governmental and business-type activities, net of related debt at
September 30, 2010, was $329,048,081. Investment in capital assets for governmental activities is
$255,013,912 and $74,034,169 for business-type activities.
These capital assets include assets purchased as well as donated. They also include infrastructure
assets, e.g., bike paths, roads, bridges, stormwater and wastewater sites recorded at historical cost.
Monroe County has several significant general government construction projects. Construction is in
process for wastewater collection systems throughout the Keys, a new fire station, a bicycle path in Key
Largo, renovation of the Gieger Key Bridge, and renovation of the Marathon courthouse. In addition, the
County is considering a new use for the Key West Courthouse Annex which was replaced by the new
judicial complex.
Further details are available in Note 6 to the financial statements pages F-1 6 through F-1 7.
Long-Term Debt
At September 30, 2010, Monroe County had long-term debt in the amount of $90,338,147. This debt is
mainly comprised of revenue bonds and notes secured by pledges of revenues. Revenue secured debt
for governmental activities is $52,055,247 and $12,572,365 is for business-type activities, Monroe
County has no general obligation bonds.
Additions to long-term debt consisted of adjustments to the estimates of other post employment
benefits, landfill closure costs and accrued compensated absences earned, and the permanent
financing for the most recent wastewater collection system construction project.
Retirements of long-term debt amounted to $31,706,123 which included the scheduled retirement of
$5,511,123 of revenue bonds and notes, early retirement of $5,195,000 of revenue bonds and the
retirement of$21,000,000 of temporary financing for the wastewater construction project.
Moody's Investors Service improved Monroe County, Florida Infrastructure Sales Surtax Revenue
Bonds, Series 2003 and 2007 to "Al". Standard and Poor's Ratings Services have rated these issues
"A+". The Monroe County Florida Airport Variable Rate Revenue Bonds ratings are A+/A-1. Further
details are available in Note 12 to the financial statements pages F-25 through F-29.
Budgetary Highlights
The category changes in the General Fund's final budget are summarized below:
There were no significant category changes in the revenue budget. The largest category change was
to increase interfund transfers in the amount of $223,266 or 0.26% of the original budget. Additional
miscellaneous revenues were budgeted to permit expenditure of unanticipated funds.
C-1 1
There were no significant category changes in the expenditure budget. The largest category change
was to increase general government spending by$307,212 or 0.36% of the original budget. Additional
funds were allocated for technical services and legislative representation concerning windstorm
insurance. Amounts originally budgeted as debt service and contingency funds were reclassified in
accordance with current year requirements.
Economic Factors and Next Year's Budgets and Rates
Monroe County's officials considered many factors when adopting the fiscal year 2011 budget.
Included among these factors were the anticipated change in property values, property tax assessment
caps imposed by the State legislature, changes in homestead property exemptions approved by the
voters, the national economic downturn and the maintenance of fund reserves.
Also considered were employee benefit costs, the use of a significant portion of Tourist Development
taxes for tourist related capital projects, increases in insurance premiums for all types of coverage, the
ongoing construction of wastewater treatment infrastructure, increases in program costs caused by
unfunded state mandates, major long range planning initiative and policies, and expansion of parks and
recreational facilities.
Ad valorem taxes based on property values comprise approximately 69.2% of budgeted tax revenues.
The Property Appraiser certified a county-wide property value of roughly $22.3 billion for fiscal year
2010. For fiscal year 2011, the county-wide property value has been certified at approximately $19.6
billion, a decrease of 12.0%.
Budgeted revenues for grants were decreased due to the completion of Key West Airport construction
projects. The drop in interest income during the current year caused a large adjustment to the amount
of interest income expected in the following year. Budgeted ad valorem taxes decreased by 3.67%,
due to a drop in assessed values which was offset by a millage increase. The County's current year
experience with tight budgets led to the anticipation of less fund balance available for use in the
following year. Budgeted revenue decreases were offset by increases in local option sales tax rates for
tourist development and fuel, state shared revenues, increases in airport revenues due to increased
enplanements, and internal charges for expected increases in group insurance claims.
Budgeted expenditures for construction projects dropped as the Big Coppitt wastewater project has
been completed, and sufficient funding for a new phase is not currently available. In addition, Key West
Airport construction projects were completed in the prior year and fewer new projects have been
anticipated. The lower level of funding for new homeowner assistance grants decreased spending on
the economic environment. The budget decreases were offset by the use of increased tourist
development sales taxes for additional advertising to boost the economy, increased health insurance
costs and additional social services demands created by the recession.
Requests for Information
This financial report is designed to provide a general overview of Monroe County's finances for all those
with an interest in its finances. Questions concerning any of the information provided in this report or
requests for additional information should be addressed to the Finance Director, Clerk of the Circuit
Court, 500 Whitehead Street, Key West, Florida 33040.
C-1 2
BASIC FINANCIAL STATEMENTS
MONROE COUNTY, FLORIDA
STATEMENT OF NET ASSETS
SEPTEMBER 30, 2010
Primary Government
Governmental Business-Type
Activities Activities Total
ASSETS
Current Assets:
Cash and Cash Equivalents 54,007,591 $1,124,592 $ 55,132,183
Investments 138,963,413 14,890,388 153,853,801
Accounts Receivable, Net 1,160,654 1,134,253 2,294,907
Internal Balances 1,117,281 (1,117,281) -
Due from Other Governmental Units 8,318,681 4,849,371 13,168,052
Interest Receivable 568,277 54,220 622,497
Inventory 4,913 - 4,913
Restricted Cash and Cash Equivalents 5,073,919 880,950 5,954,869
Restricted Investments 8,259,824 989,388 9,249,212
Total Current Assets 217,474,553 22,805,881 240,280,434
Noncurrent Assets:
Restricted Cash and Cash Equivalents - 3,818,109 3,818,109
Restricted Investments - 6,015,526 6,015,526
Restricted Interest Receivable - 38,301 38,301
Mortgage/ Notes Receivable 17,517,008 - 17,517,008
Allowance for Mortgage/ Notes Receivable (9,140,429) - (9,140,429)
Deferred Charges 591,614 295,096 886,710
Land and Other Nondepreciable Assets 135,018,765 12,635,559 147,654,324
Other Capital Assets, Net of Accum Deprec 158,736,391 76,468,558 235,204,949
Total Noncurrent Assets 302,723,349 99,271,149 401,994,498
Total Assets 520,197,902 122,077,030 642,274,932
LIABILITIES
Current Liabilities:
Accounts Payable 9,997,685 1,124,416 11,122,101
Retainage Payable 848,086 - 848,086
Accrued Wages and Benefits Payable 4,055,277 188,350 4,243,627
Claims and Judgements Payable 6,094,266 - 6,094,266
Due to Other Governmental Units 1,107,634 474,190 1,581,824
Accrued Comp. Absences Payable 711,624 14,816 726,440
Other Current Liabilities 4,549 - 4,549
Deposits in Escrow 152,487 92,765 245,252
Unearned Revenue 331,815 81,201 413,016
Accrued Interest Payable 16,235 17,959 34,194
Capital Leases Payable 16,840 50,000 66,840
(Continued)
The notes to the financial statements are an integral part of this statement,
D-1
MONROE COUNTY, FLORIDA
STATEMENT OF NET ASSETS - CONTINUED
SEPTEMBER 30, 2010
Primary Government
Governmental Business-Type
Activities Activities Total
Revenue Notes Payable 479,086 479,086
Revenue Bonds Payable 4,176,091 - 4,176,091
Current Liabilities Pyble fm Curr Rest Assets:
Accounts Payable - 2,922,725 2,922,725
Retainage Payable - 777,926 777,926
Accrued Interest Payable - 3,098 3,098
Revenue Notes Payable - 496,867 496,867
Revenue Bonds Payable - 460,000 460,000
Total Current Liabilities 27,991,675 6,704,313 34,695,988
Noncurrent Liabilities:
Payable from Restricted Assets-
Landfill Closure/Postclosure Costs - 412,525 412,525
Accrued Comp. Absences Payable 7,332,556 411,908 7,744,464
Capital Leases Payable 2,900 617,270 620,170
Revenue Notes Payable 13,490,479 535,498 14,025,977
Revenue Bonds Payable 33,909,591 11,080,000 44,989,591
Claims and Judgements Payable - 364,448 364,448
OPEB Liability 15,063,874 841,406 15,905,280
Total Noncurrent Liabilities 69,799,400 14,263,055 84,062,455
Total Liabilities 97,791,075 20,967,368 118,758,443
NET ASSETS
Invested in Capital Assets, Net of
Related Debt 255,013,912 74,034,169 329,048,081
Restricted:
Debt Service 2,091,591 4,848,936 6,940,527
Capital Construction 26,475,699 3,121,273 29,596,972
Landfill Closure and Post Closure - 1,486,103 1,486,103
Unrestricted 138,825,625 17,619,181 156,444,806
Total Net Assets $ 422,406,827 $ 101,109,662 $ 523,516,489
The notes to the financial statements are an integral part of this statement.
D-2
MONROE COUNTY, FLORIDA
STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 20'10
Program Revenues
Operating Capital
Charges for Grants and Grants and
Functions/Proarams Expenses Services Contributions Contributions
Primary government:
Governmental activities:
General Government $ 36,175,812 $ 8,899,726 $ 14,712 $ 2,858,547
Public Safety 97,642,007 9,297,951 24,903,576 772,238
Physical Environment 5,781,264 1,679,889 203,438 960,711
Transportation 5,394,432 191,972 407,797 399,100
Economic Environment 21,843,570 5,662 894,077 -
Human Services 9,431,844 470,075 1,899,134 -
Culture and Recreation 5,050,977 186,302 109,210 -
Court Related 9,438,598 2,149,665 3,579,560 -
Interest on Long Term Debt 2,229,992 - - -
Total governmental activities 192,988,496 22,881,242 32,011,504 4,990,596
Business-type activities:
Solid Waste 15,681,526 17,468,125 128,787 -
Toll Bridge 1,357,507 1,022,799 - -
Key West Airport 10,076,921 6,022,679 3,794,446 2,468,993
Marathon Airport 1,752,714 738,275 50,126 379,873
Total business-type activities 28,868,668 25,251,878 3,973,359 2,848,866
Total primary government $ 221,857,164 $ 48,133,120 $ 35,984,863 $ 7,839,462
General Revenues:
Taxes:
Ad Valorem Taxes
Tourist Impact Tax
Gas Tax
1/2 Cent Sales Tax
One Cent Infrastructure Tax
Tourist Development Tax
Other Taxes
Other St. Shared Rev, Unrestricted
Investment Income
Settlements, Insurance Recoveries
Donations, and Other Income
Transfers
Total General Revenues and Trsfs
Change in Net Assets
Total Net Assets-Beginning
Total Net Assets-Ending
The notes to the financial statements are an integral part of these statements.
D-3
Net(Expense) Revenue and Changes in Net Assets
Primary Government
Governmental Business-type
Activities Activities Total
$ (24,402,827) $ - $ (24,402,827)
(62,668,242) - (62,668,242)
(2,937,226) - (2,937,226)
(4,395,563) - (4,395,563)
(20,943,831) - (20,943,831)
(7,062,635) - (7,062,635)
(4,755,465) - (4,755,465)
(3,709,373) - (3,709,373)
(2,229,992) - (2,229,992)
(133,105,154) - (133,105,154)
- 1,915,386 1,915,386
- (334,708) (334,708)
- 2,209,197 2,209,197
- (584,440) (584,440)
- 3,205,435 3,205,435
(133,105,154) 3,205,435 (129,899,719)
81,685,080 - 81,685,080
2,820,046 - 2,820,046
5,391,140 - 5,391,140
7,566,369 - 7,566,369
14,085,030 - 14,085,030
19,658,401 - 19,658,401
1,292,038 - 1,292,038
5,458,593 - 5,458,593
2,179,187 312,261 2,491,448
1,940,220 11,657 1,951,877
362,265 (362,265) -
142,438,369 (38,347) 142,400,022
9,333,215 3,167,088 12,500,303
413,073,612 97,942,574 511,016,186
$ 422,406,827 $ 101,109,662 $ 523,516,489
D-4
MONROE COUNTY, FLORIDA
BALANCE SHEET
GOVERNMENTAL FUNDS
SEPTEMBER 30, 2010
Fine & Governmental HIDTA
General Forfeiture Grants Grants
Assets
Cash and Cash Equivalents $ 14,897,819 $ 3,395,839 $ 114,711 $ 195,917
Investments 26,148,163 13,308,534 2,190,902 -
Accounts Receivable, Net 32,652 731,996 - 13,329
Due from Other Funds 1,169,795 1,486,681 120,498 2,416
Due from Other Governmental Units 344,746 365,403 3,963,761 1,310,714
Mortgages/Notes Receivable - - 74,132 -
Allow. for Mortgages/Notes Receivable - - (74,132) -
Interest Receivable 83,266 52,220 8,437 -
Inventory 4,913 - - -
Total Assets $ 42,681,354 $ 19,340,673 $ 6,398,309 $ 1,522,376
Liabilities and Fund Balances
Liabilities:
Accounts Payable $ 2,847,316 $ 91,171 $ 2,296,994 $ 862,046
Retainage Payable 9,101 - 235,941 -
Accrued Wages and Benefits Payable 2,838,477 66,808 60,410 250,751
Due to Other Funds 2,823,533 25,636 355,532 99,142
Due to Other Governmental Units 491,560 33,490 92,663 310,437
Other Current Liabilities 4,085 - - -
Deposits in Escrow 150,560 - - -
Deferred Revenues - 580,596 2,973,448 -
Total Liabilities 9,164,632 797,701 6,014,988 1,522,376
Fund Balances:
Reserved for:
Encumbrances 344 - 531,245 -
Land Acquisition - - - -
Mortgage Loans - - - -
Debt Service - - _ -
Unreserved, Designated in
Nonmajor Special Revenue Fund - - - -
Unreserved, Undes gnated 33,516,378 18,542,972 (147,924) -
Unreserved, reported in nonmajor:
Special Revenue Funds - - - -
Capital Project Funds - - - -
Total Fund Balances 33,516,722 18,542,972 383,321 -
Total Liabilities and Fund Balances $ 42,681,354 $ 19,340,673 $ 6,398,309 $ 1,522,376
The notes to the financial statements are an integral part of these statements.
E-1
Comprehensive One Cent Infra Sls Srtx Nonmajor Total
Plan Land Infrastructure Revenue Bonds All Governmental Governmental
Authority Surtax Series 2007 Debt Service Funds Funds
$ 9,951,757 $ 2,235,238 $ 5,983,224 $ 206,835 $ 19,955,937 $ 56,937,277
- 19,490,281 8,259,824 1,878,139 50,955,078 122,230,921
- - - - 348,703 1,126,680
282,731 - - - 2,780,565 5,842,686
19,079 1,069,976 - - 1,109,387 8,183,066
8,376,579 - - - 9,066,297 17,517,008
- - - - (9,066,297) (9,140,429)
68,873 38,460 6,617 222,121 479,994
- - - - - 4,913
$ 18,630,146 $ 22,864,368 $ 14,281,508 $ 2,091,591 $ 75,371,791 $ 203,182,116
$ 5,193 $ 3,023 $ 694,642 $ - $ 2,960,484 $ 9,760,869
- 65,843 - - 537,201 848,086
9,541 17,719 1,255 - 730,762 3,975,723
- 1,056,387 - - 1,550,872 5,911,102
- - - 179,484 1,107,634
- - - 464 4,549
- - - 1,927 152,487
- - - - 406,386 3,960,430
14,734 1,142,972 695,897 - 6,367,580 25,720,880
- 7,519 3,265,475 - 1,478,945 5,283,528
2,859,459 - - - - 2,859,459
8,376,579 - - - - 8,376,579
- - - 2,091,591 - 2,091,591
- - - - 500,611 500,611
7,379,374 21,713,877 10,320,136 - - 91,324,813
- - - - 63,911,371 63,911,371
- - - - 3,113,284 3,113,284
18,615,412 21,721,396 13,585,611 2,091,591 69,004,211 177,461,236
$ 18,630,146 $ 22,864,368 $ 14,281,508 $ 2,091,591 $ 75,371,791 $ 203,182,116
E-2
MONROE COUNTY, FLORIDA
RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO
STATEMENT OF NET ASSETS
SEPTEMBER 30, 2010
Amounts reported for governmental activities in the Statement of Net Assets are different because:
Ending Fund Balance -Governmental Funds $ 177,461,236
Capital assets used in governmental activities are not financial
resources and, therefore, are not reported in the governmental funds,
net of accumulated depreciation of$104,116,468. 292,642,612
Deferred charges, bond/note issuance costs, used in governmental
activities are amortized over the life of the debt and are not financial
resources. Therefore, they are not reported in the governmental funds. 591,614
Deferred revenues are not reported in the governmental funds as they
are not current financial resources. They are reported as a reduction of
deferred revenues in the Statement of Net Assets. 3,628,615
Long-term liabilities, including bonds payable, are not due and payable
in the current period and, therefore, are not reported in the funds.
Revenue Bonds Payable $ (38,085,682)
Revenue Note Payable (13,969,565)
OPEB Liability (14,773,284)
Capital Leases Payable (19,740)
Accrued Interest Payable (16,235)
Accrued Compensated Absences (7,899,423)
Total (74,763,929)
The Assets and Liabilities of the Internal Service Funds (funds are used
to charge the costs of insurance and fleet maintenance activities to
individual funds) are not reported in the Governmental Funds. 22,846,679
Net Assets of governmental activities $ 422,406,827
The notes to the financial statements are an integral part of this statement.
E-3
THIS PAGE INTENTIONALLY LEFT BLANK
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Fine S Governmental HIDTA
General Forfeiture Grants Grants
Revenues:
Taxes $ 26,278,306 $ 43,061,878 $ - $ -
Licenses and Permits 409,108 - - -
Intergovernmental 7,695,034 28,365 6,987,723 20,309,489
Charges for Services 3,589,562 1,922,032 137,936 -
Fines and Forfeitures 6,969 192,208 - -
Investment Income 359,206 202,849 29,953 -
Miscellaneous 942,425 2,633 290,173 -
Total Revenues 39,280,610 45,409,965 7,445,785 20,309,489
Expenditures:
Current:
General Government 25,134,096 521,102 - -
Public Safety 39,495,140 7,738,288 2,667,676 20,309,489
Physical Environment 196,088 - 189,459 -
Transportation 81,450 - 1,310,090 -
Economic Environment 588,340 - 67,558 -
Human Services 5,812,689 - 2,457,130 -
Culture and Recreation 2,596,725 - 109,210 -
Court Related 3,753,177 274,038 23,792 -
Capital Projects - - - -
Debt Service 21,884 - - -
Total Expenditures 77,679,589 8,533,428 6,824,915 20,309,489
Excess/Deficiency of Revenues
Over/(Under) Expenditures (38,398,979) 36,876,537 620,870 -
Other Financing Sources/(Uses):
Transfers from Other Funds 46,565,114 1,477,049 120,499
Transfers to Other Funds (2,689,811) (36,731,780) (2,251,980) -
Debt Issuance - - - -
Total Other Financing Sources/(Uses) 43,875,303 (35,254,731) (2,131,481) -
Net Change in Fund Balances 5,476,324 1,621,806 (1,510,611) -
Fund Balances-October 1 28,040,398 16,921,166 1,893,932 -
Fund Balances-September 30 $ 33,516,722 $ 18,542,972 $ 383,321 $ -
The notes to the financial statements are an integral part of these statements.
E-4
Comprehensive One Cent Infra Sis Srtx Nonmajor Total
Plan Land Infrastructure Revenue Bonds All Governmental Governmental
Authority Surtax Series 2007 Debt Service Funds Funds
$ - $ 14,085,030 $ - $ - $ 37,497,538 $ 120,922,752
- - - 3,538,095 3,947,203
2,858,547 - - - 14,347,378 52,226,536
- - - - 9,989,387 15,638,917
- - - - 952,407 1,151,584
99,420 168,779 62,826 63,361 915,138 1,901,532
450,600 - - - 191,837 1,877,668
3,408,567 14,253,809 62,826 63,361 67,431,780 197,666,192
1,022,330 - - - 2,810,317 29,487,845
- - - - 21,607,006 91,817,599
- - 1,064,572 1,450,119
- - 3,310,716 4,702,256
- - - - 21,107,525 21,763,423
- - - - 348,630 8,618,449
- - 1,548,037 4,253,972
- - - - 4,252,859 8,303,866
816,508 2,683,118 - 2,663,274 6,162,900
- - - 27,910,245 - 27,932,129
1,022,330 816,508 2,683,118 27,910,245 58,712,936 204,492,558
2,386,237 13,437,301 (2,620,292) (27,846,884) 8,718,844 (6,826,366)
15,531 282,184 - 12,013,266 7,519,733 67,993,376
- (8,215,900) - - (17,108,703) (66,998,174)
- - - 14,494,806 - 14,494,806
15,531 (7,933,716) - 26,508,072 (9,588,970) 15,490,008
2,401,768 5,503,585 (2,620,292) (1,338,812) (870,126) 8,663,642
16,213,644 16,217,811 16,205,903 3,430,403 69,874,337 168,797,594
$ 18,615,412 $ 21,721,396 $ 13,585,611 $ 2,091,591 $ 69,004,211 $ 177,461 L236
The notes to the financial statements are an integral part of these statements.
E-5
MONROE COUNTY, FLORIDA
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Amounts reported for governmental activities in the statement of activities are different because:
Net change in fund balances -total governmental funds $ 8,663,642
Governmental funds report capital outlays as expenditures. However, in the
Statement of Activities the cost of those assets is allocated over their estimated
useful lives and reported as depreciation expense. This is the amount by which
capital outlays of$7,690,054 are exceeded by depreciation of$8,956,986 in the
current period. (1,266,932)
Governmental funds do not report donated capital assets as they do not provide
current financial resources. Governmental activities report donated assets at the
fair market value. 22,097
Governmental Funds only report the disposal of assets to the extent proceeds are
received from the sale. In the Statement of Activities, transfers of property to
other governmental agencies are reported as expenses. (2,854,859)
Debt issuance is reported as revenue on the governmental funds as current
financial resources available, but as a long-term liability on the Statement of Net
Assets. (14,494,806)
Payment of long-term debt is reported as an expenditure on the governmental
funds as current financial resources are used, but a reduction of long-term
liabilities in the Statement of Net Assets, 25,781,019
The change in compensated absences is reported in the Statement of Activities
and is not reported in governmental funds as current financial resources are not
used. (450,425)
The change in OPEB liability is reported in the Statement of Activites and is not
reported in governmental funds as current financial resources are not used. (5,902,715)
Governmental funds report the effect of issuance costs, premiums, discounts, and
similar items when debt is first issued; whereas, these amounts are deferred and
amortized in the Statement of Activities. In addition, interest and other accruals
not using current financial resources are reported as governmental activities. The
amount is the net effect of these transactions. (78,882)
Revenues that do not provide current financial resources are not reported on
governmental funds. However, revenues that are earned in the current period are
reported in the Statement of Activities. 1,224,204
The net revenues of internal service funds (funds used to charge the costs of
certain activities to individual funds) are reported with governmental activities. (1,309,128)
Change in net assets of governmental activities $ 9,333,215
The notes to the financial statements are an integral part of this statement.
E-6
MONROE COUNTY, FLORIDA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 26,892,098 $ 26,892,098 $ 26,278,306 $ (613,792)
Licenses and Permits 357,895 357,895 409,108 51,213
Intergovernmental 6,480,700 6,480,700 7,695,034 1,214,334
Charges for Services 3,373,547 3,373,547 3,589,562 216,015
Fines and Forfeitures 10,526 10,526 6,969 (3,557)
Investment Income 828,480 828,480 359,206 (469,274)
Miscellaneous 598,796 733,229 942,425 209,196
Total Revenues 38,542,042 38,676,475 39,280,610 604,135
EXPENDITURES:
Current:
General Government:
Board of County Commissioners 1,642,326 1,642,326 1,413,750 228,576
County Administrator 553,655 555,455 551,860 3,595
Public Works Management 121,974 126,379 121,280 5,099
County Attorney 1,209,238 1,209,238 996,570 212,668
Office of Management& Budget 478,459 478,459 401,042 77,417
Technical Services 1,530,447 1,720,447 1,568,582 151,865
Technology Replacement 156,991 156,991 134,619 22,372
Grants Administration 207,899 207,899 3,960 203,939
Personnel 332,889 338,889 333,636 5,253
Purchasing 209,818 209,818 202,854 6,964
Public Works Facilities Maintenance 6,708,085 6,708,085 6,204,582 503,503
ADA Compliance 10,000 10,000 4,291 5,709
Value Adjustment Board 72,100 72,100 55,974 16,126
Lobbyist 82,000 82,000 60,000 22,000
Wind Storm Actuarial - 115,651 95,136 20,515
Promotional Advertising 5,000 5,000 1,621 3,379
Tax Increment Payment 360,200 360,200 291,048 69,152
Quasi External Services 125,000 125,000 115,824 9,176
Clerk to BOCC-Financial Package 5,000 5,000 - 5,000
Clerk of Ct-Comm & Fees-Noncourt 3,373,111 3,373,111 3,132,684 240,427
Tax Collector 4,302,900 4,213,190 4,036,509 176,681
Property Appraiser 4,152,706 4,151,772 3,930,579 221,193
(Continued)
The notes to the financial statements are an integral part of these statements.
E-7
MONROE COUNTY, FLORIDA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL -CONTINUED
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Supervisor of Elections 1,288,515 1,368,515 1,233,905 134,610
Supervisor of Elections-Insurances 122,204 122,204 120,826 1,378
Gov't Enterprise Management System 200,000 200,000 122,964 77,036
Total General Government 27,250,517 27,557,729 25,134,096 2,423,633
Public Safety:
Hurricane 303,037 303,037 189,266 113,771
Emergency Management 200,446 200,446 185,038 15,408
Marathon Emer Operations Center 70,853 70,853 36,899 33,954
Medical Examiner 564,904 565,482 565,302 180
American Red Cross Lower Keys 5,000 5,000 5,000 -
Sheriff Law Enforcement 22,815,439 22,815,439 22,175,500 639,939
Sheriff Corrections 16,796,013 16,796,013 16,086,813 709,200
Fire Academy 327,522 477,452 251,322 226,130
Total Public Safety 4.1,083,214 41,233,722 39,495,140 1,738,582
Physical Environment:
Extension Service 186,213 186,213 181,088 5,125
Upper Keys Wild Bird Ctr 5,000 5,000 5,000 -
Marathon Wild Bird Ctr 5,000 10,000 10,000 -
Exotic Wild Bird Rescue 5,000 - - -
Wastewater Upgrade 277,476 277,476 - 277,476
Total Physical Environment 478,689 478,689 196,088 282,601
Transportation:
County Engineer 213,649 213,649 81,450 132,199
Economic Environment:
Literacy Volunteers of America 4,000 4,000 4,000 -
Veteran's Affairs 476,530 476,530 461,246 15,284
Veteran's Affairs Transportation 124,930 124,930 123,094 1,836
Total Economic Environment 605,460 605,460 588,340 17,120
Human Services:
Health Care Respite Act 40,000 40,000 - 40,000
(Continued)
The notes to the financial statements are an integral part of these statements.
E-8
MONROE COUNTY, FLORIDA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL - CONTINUED
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Hospice of the Florida Keys 145,000 145,000 145,000 -
Public Works Animal Shelter 984,419 984,419 957,153 27,266
Bayshore Manor 698,276 698,276 689,574 8,702
Middle Keys Guidance Clinic 215,195 215,195 215,195 -
Middle Keys Guidance Clinic 30,148 30,148 30,148 -
Middle Keys Guidance Clinic 69,177 69,177 69,177 -
Middle Keys Guidance Clinic 600,000 600,000 600,000 -
GCMK Bakermrchmn Transp 146,000 146,000 124,411 21,589
Monroe Cnty Assoc. for Retarded Citizens 146,500 146,500 146,500 -
Heron/ Peacock 48,500 48,500 48,500 -
Older Americans Volunteer Program 500 500 384 116
Welfare Administration 423,555 389,891 356,627 33,264
Welfare Services 541,200 543,800 516,521 27,279
Florida Keys Children's Shelter 146,500 146,500 146,500 -
Wesley House 126,500 126,500 126,500 -
MCEF/ Monroe Youth Challenge 25,000 25,000 25,000 -
Helpline 4,500 4,500 4,500 -
Domestic Abuse Shelter 30,000 30,000 30,000 -
Florida Keys Outreach Coalition 36,700 36,700 36,700 -
Samuel's House 77,000 77,000 77,000 -
Youth Summer Rec - 10,000 10,000 -
Grace Jones 17,500 17,500 17,456 44
Womankind 70,000 70,000 70,000 -
Rural Health Network 273,600 273,600 273,600 -
Rural Health Network STD 60,000 60,000 60,000 -
MCEF Monroe 15,000 15,000 15,000 -
Social Service Transportation 769,949 769,949 719,938 50,011
Keys Area Interdenominational Resources 10,000 10,000 10,000 -
FL Keys Healthy Start Coalition 5,000 5,000 5,000 -
Star of the Sea Foundation 10,000 10,000 10,000 -
MCSB Pace 59,000 59,000 59,000 -
Easter Seals Society 10,000 10,000 10,000 -
Health Department Lease 70,000 78,000 78,000 -
Aids Help 25,500 25,500 25,500 -
Independence Cay 7,500 7,500 7,500 -
Historic FI Keys Foundation 28,500 28,500 28,500 -
(Continued)
The notes to the financial statements are an integral part of these statements.
E-9
MONROE COUNTY, FLORIDA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL -CONTINUED
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Good Health Clinic 35,000 35,000 35,000 -
FL Keys Area Hlth Educ Ctr 35,000 35,000 32,805 2,195
Total Human Services 6,036,219 6,023,155 5,812,689 210,466
Culture and Recreation:
Heart of the Keys Recreation 30,400 30,400 30,400 -
Big Pine Athletic Association 44,000 44,000 44,000 -
Boys and Girls Club 38,500 38,500 38,500 -
Upper Keys YMCA 11,400 11,400 11,400 -
Higgs Beach Maintenance 200,426 200,426 138,899 61,527
Lower Keys AARP 4,500 4,500 559 3,941
Middle Keys AARP 4,500 4,500 3,518 982
Big Pine Key AARP 4,500 4,500 4,288 212
Upper Keys AARP 4,500 4,500 1,149 3,351
Fine Arts Council 57,000 57,000 57,000 -
Library Admin Support 521,956 521,956 520,207 1,749
Library Key West 659,676 659,676 629,242 30,434
Library Key West Donations - 101,252 24,736 76,516
Library Marathon 262,184 262,184 242,495 19,689
Library Marathon Donations - 16,886 728 16,158
Library Islamorada 242,628 242,628 239,258 3,370
Library Islamorada Donations - 495 - 495
Library Key Largo 351,999 351,999 350,749 1,250
Library Key Largo Donations - 4,185 - 4,185
Library Big Pine Key 271,945 271,945 256,736 15,209
Library Big Pine Key Donations - 11,349 2,861 8,488
Total Culture and Recreation 2,710,114 2,844,281 2,596,725 247,556
Court Related:
Law Library 53,664 53,664 50,298 3,366
Article V Residual 1 Contingency - 5,000 5,000
Guardian Ad Litem 160,105 160,105 155,343 4,762
State Attorney 338,720 338,720 295,816 42,904
Public Defender 514,577 514,577 508,438 6,139
Sheriff Court Security 1,262,798 1,262,798 1,260,000 2,798
(Continued)
The notes to the financial statements are an integral part of these statements.
E-10
MONROE COUNTY, FLORIDA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL -CONTINUED
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Court Administration 2,863 2,863 2,306 557
Court Admin-Judicial Support 160,658 160,658 147,493 13,165
Court Admin-Circuit Ct Reporter Svcs 1,675 1,675 1,491 184
Court Admin-Circuit Drug Court 429,691 429,691 399,949 29,742
Court Admin-Pretrial Release 506,404 506,404 496,489 9,915
Court Admin-Family Ct Case Mgmt 148,911 148,911 148,719 192
Ct. Admin-Other Circuit Court Juvenile 49,296 49,296 47,987 1,309
Ct. Admin-Pretrial Svcs Drug Diversion 119,929 119,929 71,657 48,272
Court Admin-Information Systems 162,007 163,007 162,191 816
Total Court Related 3,911,298 3,917,298 3,753,177 164,121
Debt Service:
Principal 199,615 39,615 20,422 19,193
Interest 14,414 14,414 1,462 12,952
Total Debt Service 214,029 54,029 21,884 32,145
Total Expenditures 82,503,189 82,928,012 77,679,589 5,248,423
Excess/Deficiency of Revenues
Overl(Under) Expenditures (43,961,147) (44,251,537) (38,398,979) 5,852,558
Other Financing Sources/(Uses):
Reserve for Contingencies (944,753) (746,449) - 746,449
Reserve for Cash Balance (8,104,588) (8,104,588) - 8,104,588
Transfers from Other Funds 47,402,638 47,625,904 46,565,114 (1,060,790)
Transfers to Other Funds (1,493,977) (1,625,157) (2,689,811) (1,064,654)
Total Other Financing Sources/(Uses) 36,859,320 37,149,710 43,875,303 6,725,593
Net Change in Fund Balances (7,101,827) (7,101,827) 5,476,324 12,578,151
Fund Balances, October 1 7,101,827 7,101,827 28,040,398 20,938,571
Fund Balances, September 30 $ - $ - $ 33,516,722 $33,516,722
The notes to the financial statements are an integral part of these statements.
E-11
MONROE COUNTY, FLORIDA
FINE AND FORFEITURE SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $44,752,196 $44,752,196 $43,061,878 $ (1,690,318)
Intergovernmental 40,000 40,000 28,365 (11,635)
Charges for Services 2,270,000 2,271,730 1,922,032 (349,698)
Fines and Forfeitures 250,000 250,000 192,208 (57,792)
Investment Income 600,000 600,000 202,849 (397,151)
Miscellaneous - 20,885 2,633 (18,252)
Total Revenues 47,912,196 47,934,811 45,409,965 (2,524,846)
EXPENDITURES:
Current:
General Government:
Tax Increment Payment 575,000 575,000 521,102 53,898
Public Safety:
Sheriff Law Enforcement 2,480,150 2,480,150 2,467,756 12,394
Sheriff Corrections 2,372,191 2,372,191 2,196,825 175,366
Bond Refunds 25,000 25,000 - 25,000
LEEA Funds 75,000 75,000 75,000 -
Public Works Correction Facilities 1,903,964 1,903,964 1,647,894 256,070
Medical Air Transport 1,117,673 1,246,173 965,468 280,705
Key West School Crossing Guard 10,059 10,059 2,511 7,548
Interagency Communications 63,891 63,891 24,201 39,690
Juvenile Detention Cost Share 337,140 358,633 358,633 -
Total Public Safety 8,385,068 8,535,061 7,738,288 796,773
Physical Environment:
Wastewater Upgrade 55,000 55,000 - 55,000
Court Related:
Sheriff Extradition 50,000 50,000 23,158 26,842
Sheriff Court Security 253,948 253,948 250,880 3,068
Total Court Related 303,948 303,948 274,038 29,910
Total Expenditures 9,319,016 9,469,009 8,533,428 935,581
Excess/Deficiency of Revenues
Over/(Under) Expenditures 38,593,180 38,465,802 36,876,537 �1,589,265)
The notes to the financial statements are an integral part of these statements. (Continued)
E-12
MONROE COUNTY, FLORIDA
FINE AND FORFEITURE SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL - CONTINUED
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Other Financing Sources/(Uses):
Reserve for Contingencies (150,000) (128,507) - 128,507
Reserve for Cash Balance (4,532,567) (4,532,567) - 4,532,567
Transfers from Other Funds 610,242 610,242 1,477,049 866,807
Transfers to Other Funds (36,860,277) (36,754,392) (36,731,780) 22,612
Total Other Financing Sources/(Uses) (40,932,602) (40,805,224) (35,254,731) 5,550,493
Net Change in Fund Balances (2,339,422) (2,339,422) 1,621,806 3,961,228
Fund Balances, October 1 2,339,422 2,339,422 16,921,166 14,581,744
Fund Balances, September 30 $ - $ - $ 18,542,972 $ 18,542,972
The notes to the financial statements are an integral part of these statements.
E-13
MONROE COUNTY, FLORIDA
GOVERNMENTAL GRANTS SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Intergovernmental $ - $ 29,035,186 $ 6,987,723 $ (22,047,463)
Charges for Services - 150,103 137,936 (12,167)
Investment Income - - 29,953 29,953
Miscellaneous - 13,500 290,173 276,673
Total Revenues - 29,198,789 7,445,785 (21,753,004)
Expenditures:
Current:
General Government:
Mthn Garage Door Retrofit - 3,532 - 3,532
Public Safety:
Emergency Management Base Grant - 181,695 136,055 45,640
Radiological Emerg Preparedness - 150,102 143,227 6,875
EMS Award Grant - 144,171 57,211 86,960
EMS Matching Grant - 110,000 109,743 257
MCDC Overhead Door Retrofit - 3,930 - 3,930
Homeland Security Grant - 17,500 - 17,500
Homeland Security Grant - 94,814 13,057 81,757
SHSGP ISS7 CSPIICS Grant - 15,000 - 15,000
ODP UASI 07 Grant - 321,946 157,525 164,421
ODP UASI 08 Grant - 35,000 - 35,000
MCSOIEmg UASI 08 Grant - 484,060 116,176 367,884
FEMA-Hurricane Katrina - 886,978 - 886,978
FEMA-Hurricane Rita - 703,653 - 703,653
FEMA-Hurricane Wilma - 10,929,668 1,550 10,928,118
FEMA-Tropical Storm Fay - 1,958,102 1,909,999 48,103
FEMA-Hurricane Ike - 23,133 23,133 -
Total Public Safety - 16,059,752 2,667,676 13,392,076
Physical Environment:
Exotic Plant Control Svc - 182,889 166,737 16,152
IE Plant Removal Crew FK095 - 96,000 7,029 88,971
Mech IE Plant Removal FK097 - 50,000 - 50,000
Clean Vessel Act LE 655 - 19,892 15,693 4,199
Total Physical Environment - 348,781 189,459 159,322
The notes to the financial statements are an integral part of these statements. (Continued)
E-14
MONROE COUNTY, FLORIDA
GOVERNMENTAL GRANTS SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL -CONTINUED
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Transportation:
Geiger Creek Bridge Repair - 1,102,513 649,287 453,226
Palm Drive Bay Point Bridge Repair - 136,053 130,544 5,509
Sunset Point Park Boat Ramp - 105,430 27,376 78,054
Tom's Harbor Channel Bridge - 1,570,780 414 1,570,366
Traffic Signal Maintenance - 10,514 - 10,514
Safety Improvement Heritage Trail - 23,303 - 23,303
Transp Planning Prog 07-09 - 622,379 163,280 459,099
Bicycle/Pedestrian Plan 2 - 164,138 56,818 107,320
Overseas Heritage Trail - 342,040 - 342,040
Pigeon Key Ferry Service - 488,745 282,371 206,374
LAP Wayfinding Signage - 1,100,000 - 1,100,000
LAP FKSH Interpretive Panels - 45,000 - 45,000
Total Transportation - 5,710,895 1,310,090 4,400,805
Economic Environment:
FEMA Severe Repetitive Loss - 149,479 23,274 126,205
Disaster Recovery CDBG 2,488,963 44,284 2,444,679
Affordable Housing Coordinator - 45,081 - 45,081
Total Economic Environment - 2,683,523 67,558 2,615,965
Human Services:
Residential Substance Abuse Treatment 16,667 133,334 67,102 66,232
Offender Re-entry Emp Rdy Pgm - 44,900 44,900 -
Mort Fraud Prev Prot Program - 113,137 60,953 52,184
MYC Middle School Pgm V - 41,723 41,723 -
Prevent Recidivism Fr Adl - 32,725 32,725 -
Drug Court Pgm Urin Lab - 46,725 46,283 442
Wit Recidivism Prevention - 21,700 21,700 -
Title III-B 2009 - 39,714 22,641 17,073
Title 111-B 2010 - 109,569 78,753 30,816
Title III-Cl 2009 - 56,120 52,267 3,853
Title 111-C1 2010 - 142,600 131,650 10,950
Title 111-C2 2009 - 125,318 75,734 49,584
Title I I I-C2 2010 - 210,832 168,835 41,997
Title Ill-E 2009 - 29,906 28,861 1,045
Title 111-E 2010 - 56,560 55,726 834
Alzheimer's Disease Initiative 09/10 - 61,180 56,800 4,380
The notes to the financial statements are an integral part of these statements. (Continued)
E-1 5
MONROE COUNTY, FLORIDA
GOVERNMENTAL GRANTS SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL - CONTINUED
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Alzheimer's Disease Initiative 10/11 - 56,746 14,286 42,460
Community Care Disabled Adults 09/10 - 82,595 56,335 26,260
Community Care Disabled Adults 10/11 - 90,814 17,413 73,401
Community Care for the Elderly 09/10 - 467,078 466,367 711
Community Care for the Elderly 10/11 - 461,760 177,484 284,276
Home Care for the Elderly 09/10 - 13,222 10,456 2,766
Home Care for the Elderly 10/11 - 16,560 2,836 13,724
Low Income Home Energy Program 09/10 - 144,171 104,329 39,842
Low Income Home Energy Program 10/11 - 503,504 223,657 279,847
ARRA 929 C1 OAA 09/10 - 24,254 9,996 14,258
ARRA 929 C2 OAA 09/10 - 29,369 15,412 13,957
ARRA HPRP Grant - 257,007 251,353 5,654
ARRA WAP Grant - 47,363 39,425 7,938
ARRA WAP Grant - 424,517 81,128 343,389
Total Human Services 16,667 3,885,003 2,457,130 1,427,873
Culture and Recreation:
State Aid to Libraries - 131,579 99,279 32,300
Library Services Technology Act - 9,999 9,931 68
Total Culture and Recreation - 141,578 109,210 32,368
Court Related:
Juvenile Drug Court - 23,792 23,792 -
Total Expenditures 16,667 28,856,856 6,824,915 22,031,941
Excess/Deficiency of Revenues
Over/(Under) Expenditures (16,667) 341,933 620,870 278,937
Other Financing Sources/(Uses):
Reserve for Contingencies (535,000) (535,000) - 535,000
Transfers from Other Funds 551,667 3,599,158 120,499 (3,478,659)
Transfers to Other Funds - (3,406,091) (2,251,980) 1,154,111
Total Other Financing Sources/(Uses) 16,667 (341,933) (2,131,481) (1,789,548)
(Continued)
"rhe notes to the financial statements are an integral part of these statements.
E-16
MONROE COUNTY, FLORIDA
GOVERNMENTAL GRANTS SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL -CONTINUED
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Net Change in Fund Balances - - (1,510,611) (1,510,611)
Fund Balances, October 1 - - 1,893,932 1,893,932
Fund Balances, September 30 $ - $ - $ 383,321 $ 383,321
The notes to the financial statements are an integral part of these statements.
E-17
MONROE COUNTY, FLORIDA
SHERIFF'S HIDTA GRANT SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Intergovernmental $ 21,975,000 $ 20,500,000 $ 20,309,489 $ (190,511)
EXPENDITURES:
Current:
Public Safety 21,975,000 20,500,000 20,309,489 190,511
Net Change in Fund Balances - - - -
Fund Balances, October 1 - - - -
Fund Balances, September 30 $ - $ - $ - $ -
The notes to the financial statements are an integral part of these statements.
E-18
MONROE COUNTY, FLORIDA
COMPREHENSIVE PLAN LAND AUTHORITY SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Intergovernmental $ 2,290,000 $ 2,290,000 $ 2,858,547 $ 568,547
Investment Income 40,000 40,000 99,420 59,420
Miscellaneous Income - - 450,600 450,600
Total Revenues 2,330,000 2,330,000 3,408,567 1,078,567
EXPENDITURES:
Current:
General Government:
Administrative 357,500 357,500 296,167 61,333
Capital Outlay 9,441,021 6,625,021 725,503 5,899,518
Total General Government 9,798,521 6,982,521 1,021,670 5,960,851
Net Change in Fund Balances (7,468,521) (4,652,521) 2,386,897 7,039,418
Other Financing Sources/(Uses):
Transfers from Constitutional Officers - - 15,531 15,531
Net Change in Fund Balances -
Budgetary Basis (7,468,521) (4,652,521) 2,402,428 7,054,949
Fund Balances, October 1 9,481,946 9,481,946 9,481,946 -
Fund Balances, September 30 -
Budgetary Basis $ 2,013,425 $ 4,829,425 11,884,374 $ 7,054,949
Reconciliation of Budgetary Basis
To GAAP Basis
Reconciling item:
Mortgage receivable 8,376,579
Transfer from reserve for land acquisition (1,636,000)
Compensation accrual (9,541)
Fund Balances, September 30 - GAAP Basis $ 18,615,412
The notes to the financial statements are an integral part of these statements.
E-19
MONROE COUNTY, FLORIDA
STATEMENT OF NET ASSETS
PROPRIETARY FUNDS
SEPTEMBER 30, 2010
Business-type Activities Enterprise Funds
Major Funds
Municipal Card Key
Svc District Sound West
Waste Bridge Airport
ASSETS
Current Assets:
Cash and Cash Equivalents $ 544,065 $ 272,533 $ 111,652
Investments 6,447,055 6,747,510 171,015
Restricted Cash and Cash Equivalents - - 880,950
Restricted Investments - - 989,388
Accounts Receivable, Net 430,989 - 674,534
Due from Other Funds 11,151 - 40,278
Due from Other Governmental Units 12,046 1,773 4,587,950
Interest Receivable 22,774 22,774 3,268
Total Current Assets 7,468,080 7,044,590 7,459,035
Noncurrent Assets:
Restricted Cash and Cash Equivalents 20,411 - 3,797,698
Restricted Investments 1,874,392 - 4,141,134
Restricted Interest Receivable 3,825 - 34,476
Deferred Charges, Net 3,493 - 291,603
Land and Other Nondepreciable Assets 3,629,620 50,000 7,334,736
Capital Assets, Net of Accum. Depreciation 243,857 9,200,950 55,995,110
Total Noncurrent Assets 5,775,598 9,250,950 71,594,757
Total Assets 13,243,678 16,295,540 79,053,792
LIABILITIES
Current Liabilities:
Accounts Payable 593,260 1,624 167,446
Accrued Wages and Benefits Payable 58,099 32,062 81,692
Claims and Judgements Payable - - -
Due to Other Funds - 878 132,548
Due to Other Governmental Units 753 - 470,896
Accrued Interest Payable 17,959 - -
Accrued Comp. Absences Payable - 1,788
Capital Leases Payable 50,000 - -
Deposits in Escrow 78,459 - 8,000
Deferred Revenue - - 81,201
The notes to the financial statements are an integral part of these statements.
E-20
Governmental
Major Fonds Activities
Internal
Marathon Service
Airport Total Funds
$ 196,342 $ 1,124,592 $ 2,144,233
1,524,808 14,890,388 24,992,316
- 880,950 -
- 989,388 -
28,730 1,134,253 33,974
132,548 183,977 83,186
247,602 4,849,371 135,615
5,404 54,220 88,283
2,135,434 24,107,139 27,477,607
- 3,818,109 -
- 6,015,526 -
- 38,301 -
- 295,096 -
1,621,203 12,635,559 54,000
11,028,641 76,468,558 1,058,544
12,649,844 99,271,149 1,112,544
14,785,278 123,378,288 28,590,151
362,086 1,124,416 236,816
16,497 188,350 79,554
- - 6,094,266
64,942 198,368 379
2,541 474,190 -
- 17,959 -
13,028 14,816 10,305
- 50,000 -
6,306 92,765 -
- 81,201 -
(Continued)
E-21
MONROE COUNTY, FLORIDA
STATEMENT OF NET ASSETS -CONTINUED
PROPRIETARY FUNDS
SEPTEMBER 30, 2010
Business-type Activities Enterprise Funds
Major Funds
Municipal Card Key
Svc District Sound West
Waste Bridge Airport
Current Liabilities Payable from
Restricted Assets:
Accounts Payable - - 2,922,725
Retainage Payable - - 777,926
Accrued Interest Payable - - 3,098
Notes Payable 496,867 - -
Revenue Bonds Payable - - 460,000
Total Current Liabilities 1,295,397 34,564 5,107,320
Noncurrent Liabilities:
Payable from restricted assets-Landfill 412,525 - -
closure/post closure costs
Accrued Comp. Absences Payable 181,206 80,139 111,877
Claims & Judgements Payable 129,632 - 234,816
Capital Leases Payable 617,270 - -
Notes Payable 535,498 - -
Revenue Bonds Payable - - 11,080,000
OPEB Liability 299,319 171,536 267,726
Total Noncurrent Liabilities 2,175,450 251,675 11,694,419
Total Liabilities 3,470,847 286,239 16,801,739
NET ASSETS
Invested in Capital Assets, Net of Related Debt 2,173,842 9,250,950 49,959,533
Restricted for:
Debt Service - - 4,848,936
Capital Projects - - 3,121,273
Landfill 1,486,103 - -
Unrestricted 6,112,886 6,758,351 4,322,311
Total Net Assets $ 9,772,831 $ 16,009,301 $ 62,252,053
Adjustment to reflect the consolidation of internal service
activities related to enterprise funds
The notes to the financial statements are an integral part of these statements.
E-22
Governmental
Major Funds Activities
Internal
Marathon Service
Airport Total Funds
- 2,922,725 -
- 777,926 -
- 3,098 -
- 496,867 -
- 460,000 -
465,400 6,902,681 6,421,320
- 412,525 -
38,686 411,908 134,452
- 364,448 -
617,270 -
- 535,498 -
11,080,000 -
102,825 841,406 290,590
141,511 14,263,055 425,042
606,911 21,165,736 6,846,362
12,649,844 74,034,169 1,159,445
- 4,848,936 -
3,121,273 -
- 1,486,103 1,528,523 18,722,071 20,584,344
$ 14,178,367 102,212,552 $ 21,743,789
(1,102,890)
$ 101,109,662
E-23
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN FUND NET ASSETS
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Business-type Activities Enterprise Funds
Major Funds
Municipal Card Key
Svc District Sound West
Waste Bridge Airport
Operating Revenues:
Franchise Fees $ 463,131 $ - $
Charges for Services 17,004,994 1,022,799 5,058,534
Fines and Forfeitures - - 1,976
Miscellaneous 4,742 - 5,709
Total Operating Revenues 17,472,867 1,022,799 5,066,219
Operating Expenses:
Personnel Services 1,449,531 801,170 1,693,611
Operations 14,134,723 125,761 6,160,172
Depreciation and Amortization 56,924 416,088 1,951,437
Asserted and Paid Claims - - -
Total Operating Expenses 15,641,178 1,343,019 9,805,220
Operating Income/(Loss) 1,831,689 (320,220) (4,739,001)
Nonoperating Revenues/(Expenses):
Operating Grants 78,787 3,451,604
Grant and Donations - Other Sources 50,000 342,842
Other Income- PFC - - 962,169
Investment Income 97,773 107,834 88,675
Insurance Recoveries - - -
Gain (Loss) on Disposition of Assets (356) (442)
Interest Expenses and Fiscal Charges (56,892) - (254,203)
Total Non-Operating
Revenues/(Expenses) 169,312 107,834 4,590,645
Income/(Loss) Before
Contributions and Transfers 2,001,001 (212,386) (148,356)
Transfers from Other Funds 4,013
Transfers to Other Funds (187,303) (121,362) (159,664)
Capital Grants and Contributions - 2,468,993
Change in Net Assets 1,817,711 (333,748) 2,160,973
Total Net Assets-October 1 7,955,120 16,343,049 60,091,080
Total Net Assets-September 30 $ 9,772,831 $ 16,009,301 $ 62,252,053
Adjustment to reflect the consolidation of internal service activities related to enterprise funds.
Change in Net Assets of Business-type Activities
The notes to the financial statements are an integral part of these statements.
E-24
Governmental
Major Funds Activities
Internal
Marathon Service
Airport Total Funds
$ - $ 463,131 $ -
738,275 23,824,602 20,366,407
- 1,976 -
1,206 11,657 210,523
739,481 24,301,366 20,576,930
432,599 4,376,911 1,743,783
764,055 21,184,711 3,540,447
562,192 2,986,641 74,821
- - 16,666,735
1,758,846 28,548,263 22,025,786
(1,019,365) (4,246,897) (1,448,856)
50,126 3,580,517 -
- 392,842 -
- 962,169 -
17,979 312,261 277,450
- - 523,178
- (798) (36,475)
- (311,095) -
68,105 4,935,896 764,153
(951,260) 688,999 (684,703)
166,993 171,006 -
(64,942) (533,271) (632,937)
379,873 2,848,866 -
(469,336) 3,175,600 (1,317,640)
14,647,703 23,061,429
$ 14,178,367 $ 21,743,789
8,512
3,167,088
E-25
MONROE COUNTY, FLORIDA
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Business-type Activities Enterprise Funds
Major Funds
Municipal Card Key
Svc District Sound West
Waste Bridge Airport
Operating Activities:
Cash received for services $ 17,330,204 $ 1,021,360 4,923,974
Cash rec'vd from other funds for goods and svcs 2,681 - -
Cash received from insurance recoveries - -
Cash received from others-PFC 962,169
Cash payments to suppliers for goods and secs (14,324,839) (217,671) (6,034,325)
Cash payments for employee services (814,139) (447,909) (1,029,320)
Cash payments to other funds (360,024) (215,854) (162,650)
Cash payments for claims - -
Other operating revenue 4,742 - 5,709
Net Cash Provided by/(Used in)
Operating Activities 1,838,625 139,926 (1,334,443)
Noncapital Financing Activities:
Operating grants received 78,787 - 3,648,854
Transfers from other funds 4,013 -
Transfers to other funds (187,303) (121,281) (159,664)
Net Cash Provided/(Used) by Noncapital
Financing Activities (104,503) (121,281) 3,489,190
Capital and Related Financing Activities:
Proceeds from capital grants 4,502,325
Acquisition of capital assets (9,076) (90,712) (7,087,841)
Principal paid on capital debt (479,791) (5,670,000)
Interest and fiscal charges paid on capital debt (65,430) (239,775)
Transfers from other funds restricted for capital purposes
Net Cash Provided/(Used) by Capital and
Related Financing Activities (554,297) (90,712) (8,495,291)
Investing Activities:
Investment income 126,686 114,412 30,905
Proceeds from sales and maturities of investments 7,108,348 540,565 14,816,558
Purchase of investment securities (8,052,956) (4,942,582) (10,018,332)
Net Cash Providedl(Used) in Investing Activities (817,922) (4,287,605) 4,829,131
Net Increase/(Decrease) in Cash and
Cash Equivalents 361,903 (4,359,672) (1,511,413)
Cash and Cash Equivalents:
October 1 202,573 4,632,205 6,301,713_
September 30 $ 564,476 $ 272,533 $ 4,790,300
The notes to the financial statements are an integral part of these statements.
E-26
Governmental
Major Funds Activities
Internal
Marathon Service
Airport Total Funds
$ 616,441 $ 23,891,979 $ 4,845,888
- 2,681 15,591,577
- 512,167
962,169 -
(744,941) (21,321,776) (3,963,923)
(204,565) (2,495,933) (1,033,011)
(103,603) (842,131) (362,643)
- - (16,828,673)
1,206 11,657 239,432
(435,462) 208,646 (999,186)
52,039 3,779,680 7,329 11,342 -
(111,326) (579,574) (632,937)
(51,958) 3,211,448 (632,937)
241,980 4,744,305 -
(527,555) (7,715,184) (21,565)
(6,149,791) -
- (305,205) -
159,664 159,664 -
(125,911) (9,266,211) (21,565)
30,894 302,897 397,386
2,580,691 25,046,162 22,367,667
(2,025,997) (25,039,867) (26,035,089)
585,588 309,192 33,,270,036)
(27,743) (5,536,925) (4,923,724)
224,085 11,360,576 7,067,957
$ 196,342 $ 5,823,651 $ 2,144,233
(Continued)
E-27
MONROE COUNTY, FLORIDA
STATEMENT OF CASH FLOWS-CONTINUED
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Business-type Activities Enterprise Funds
Major Funds
Municipal Card Key
Svc District Sound West
Waste Bridge Airport
Reconciliation of operating income/(loss)
to not cash provided by/(used in) operating
activities:
Operating income/(loss) $ 1,831,689 $ (320,220) (4,739,001)
Adjustments to reconcile operating income/(loss)
to net cash provided by/(used in) operating
activities:
Depreciation and Amortization 56,924 416,088 1,951,437
Nonoperating Income-PFC - - 962,169
Nonoperating Income-Insurance Recoveries -
Change in Assets and Liabilities:
Increase/(Decrease) in Accounts receivable (78,164) (96,299)
Increasel(Decrease) in Due from other funds 2,681 18,081
Increase/(Decrease) in Due from other gov't units (2,212) (1,439) -
Increase/(Decrease) in Due fm constitutional ofcrs (1,216) (40,237)
Increase/(Decrease) in Accounts payable (25,453) 534,976
Increase/(Decrease) in Accrued wages/benefits (14,269) (2,604) 12,746
Increase/(Decrease) in Claims/judgments payable -
Increase/(Decrease) in Due to other funds - 127,624
Increase/(Decrease) in Due to other gov't units 273 - 3,729
Increase/(Decrease)in Due to constitutional ofcrs - (391) (136,918)
Increase/(Decrease) in Comp. absences payable (8,737) (23,223) (45,349)
Increase/(Decrease) in Deposits in escrow (56,329)
Increase/(Decrease) in Landfill Closure Costs 4,084 - -
Increase/(Decrease) in OPEB liability 129,354 71,715 112,599
Total adjustments 6,936 460,146 3,404,558_
Net Cash Provided by/(Used in)
Operating Activities $ 1,838,625 $ 139,926 $ (1,334,443)
Noncash investing,capital,and financing activities:
Contribution of capital assets from gov't $ - $ - $ 2,500
Gain (Loss) on disposition of assets $ (356) $ $ _1442L
Forgiveness of capital lease amount $ 50,000 $
Cash Reconciliation:
Unrestricted $ 544,065 $ 272,533 $ 111,652
Restricted 20,411 - 4,678,648
Total $ 564,476 $ 272,533 $ 4,790,300_
The notes to the financial statements are an integral part of these statements.
E-28
Governmental
Major Funds Activities
Internal
Marathon Service
Airport Total Funds
$ (1,019,365) $ (4,246,897) $ (1,448,856)
562,192 2,986,641 74,821
- 962,169 -
- - 523,178
5,415 (169,048) 17,898
(127,249) (106,487) -
(3,651) (12,115)
- (41,453) 83,173
71,529 581,052 (195,808)
1,844 (2,283) 10,815
- - (161,938)
- 127,624 255
(205) 3,797 (22,102)
- (137,309) -
13,028 (64,281) 8,170
(961) (57,290) -
- 4,084 -
58,310 371,978 123,323
583,903 4,455,543 449,670
$ (435,462) $ 208,646 $ (999,186}
$ - $ 2,500 $ -
$ - $ (798) $ 36,4751
$ 50,00 � ��--_
$ 196,342 $ 1,124,592 $ 2,144,233
- 4,699,059 -
$ 196,342 $ 5,823,651 $ 2,144,233
E-29
MONROE COUNTY, FLORIDA
STATEMENT OF FIDUCIARY NET ASSETS
FIDUCIARY FUNDS
SEPTEMBER 30, 2010
Fire and
EMS
Pension Agency
Trust Fund Funds
ASSETS
Cash and Cash Equivalents $ 82,420 $ 5,871,327
Investments 763,409 -
Accounts Receivable 2,426 8,911
Total Assets 848,255 $ 5,880,238
LIABILITIES
Due to Others 150 $ 2,368,109
Due to Other Governmental Units - 3,512,129
Total Liabilities 150 $ 5,880,238
NET ASSETS
Held in Trust for Pension Benefits and Other Purposes $ 848,105
The notes to the financial statements are an integral park of these statements.
E-30
MONROE COUNTY, FLORIDA
STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS
FIDUCIARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Fire and
EMS
Pension
Trust Fund
Additions:
Employer Contributions $ 28,914
Investment Income 7,669
Total Additions 36,583
Deductions:
Administration (8,708)
Pension Benefits (19,590)
Total Deductions (28,298)
Change in Net Assets 8,285
Total Net Assets-October 1 839,820
Total Net Assets-September 30 $ 848,105
The notes to the financial statements are an integral part of these statements.
E-31
NOTES TO FINANCIAL STATEMENTS
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE I -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following summary of the more significant accounting policies of Monroe County, Florida (County)
is presented to assist the reader in interpreting these financial statements and should be viewed as an
integral part of this report.
Reporting Entity: Entity status for financial reporting purposes is governed by Statement No. 14 of the
Governmental Accounting Standards Board (GASB) and Rules of the Auditor General, State of Florida.
The GASB is the standard-setting body for the establishment of accounting principles generally
accepted in the United States of America (GAAP) for governmental entities. Determination of the
financial reporting entity of the County is founded upon the objective of accountability. Therefore, these
financial statements include the County government (the primary government) and legally separate
component units for which operational or financial responsibility rests with the elected officials of the
County or for which the nature and significance of their relationship to the County are such that
exclusion would cause the financial statements to be misleading or incomplete.
Operational or financial responsibility is considered to have been met if the primary government
appoints a voting majority of the component unit's governing board and it is able to impose its will on
the unit or there is potential for the unit to provide specific financial benefits or impose specific financial
burdens on the primary government. All component units of the County have a September 30 fiscal
year end.
The County is a Non-Charter County established as provided by Article Vill Section 1 of the Florida
Constitution and Section 125 of the Florida Statutes, The Board of County Commissioners (Board),
composed of five members, is the legislative body for the County and as such budgets and provides
funding used by the separate Constitutional Offices with the exception of fees collected by the Clerk of
the Circuit Court and the Tax Collector. The County Administrator also serves as the principal executive
officer. In addition, certain designated governmental functions are performed by constitutional officers
who are elected at-large. The constitutional officers are the Clerk of the Circuit Court, Property
Appraiser, Sheriff, Supervisor of Elections, and Tax Collector. Although these five officers are
operationally autonomous, they do not hold sufficient corporate powers of their own to be considered
legally separate component units for financial reporting purposes. Therefore, they are reported together
with the Board as part of the primary government. Under the direction of the Clerk of the Circuit Court,
the Monroe County Finance Department maintains the accounting system for the Board's operations,
but excludes those of the Property Appraiser, Sheriff, Tax Collector, Clerk of the Circuit Court and
Supervisor of Elections, each of which maintains its own accounting system.
Services provided by the County and accounted for within these financial statements include police
services for unincorporated areas; health and social services; emergency medical services; cultural and
recreational programs; solid waste services and other governmental services.
Blended component units are legally separate entities that are in substance part of the County's
operation, as they either have governing bodies that are substantively the same as the County or they
provide their services exclusively or almost exclusively to the County. The financial transactions of the
component units are merged in with similar transactions of the County as part of the primary
government. The blended component units of the County are as follows:
Monroe County, Florida Comprehensive Plan Land Authority (MCLA) - The MCLA was created by
Monroe County, Florida Ordinance 031-1986 pursuant to Florida Statute 380 and is considered a
legally separate entity from Monroe County. Its purpose is to operate a land acquisition program,
to implement the Monroe County Comprehensive Plan and address issues created by it. The
F-1
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Monroe County Board of County Commissioners serves as the governing board and is able to
impose its will. Therefore, the MCLA, for financial reporting purposes, is considered a blended
component unit of Monroe County, Florida and is presented as a special revenue fund of the
County. Complete financial statements for MCLA can be obtained from MCLA's administrative
office at 1200 Truman Avenue, Ste. 207, Key West, Florida 33040.
Monroe County Industrial Development Authority (MCIDA) -The MCIDA was created by Monroe
County, Florida Resolution pursuant to Florida Statute 159. The MCIDA serves to assist in
financing and refinancing capital projects, which will foster economic development in the
County. The Monroe County Board of County Commissioners serves as the governing board
and is able to impose its will. 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 County must authorize the issuance of bonded debt.
Neither the MCIDA nor the County has any legal obligation for repayment of the revenue bonds
of the MCIDA. As an issuer of"conduit" debt obligations, the MCIDA has no assets or liabilities.
Discretely-presented component units are legally separate entities, which do not meet the criteria for
blending. The Monroe County Housing Finance Authority (Authority) qualified in previous years as a
discretely presented component unit of the Board, but was immaterial to the Board and had been
excluded from the statements. Currently the Authority has been abolished. It was created in 1979,
abolished in 1993, re-established in 1995 and again abolished in 2007.
Basis of Presentation: Government-wide Financial Statements: The statement of net assets and the
statement of activities report information about the nonfiduciary activities of the primary government.
Fiduciary funds of the government are eliminated from this presentation since these resources are not
available for general government funding purposes.
These statements provide a consolidated financial picture of the government distinguishing between
governmental activities and business type activities. Governmental activities are primarily financed
through taxes and intergovernmental revenues, while business-type activities are primarily financed
through charges for services to external parties.
The statement of activities presents a comparison between direct expenses of the program revenues
for each function of the County's governmental activities, and for each of the business-type activities.
Direct expenses are those that are clearly identified with a specific program or segment. Program
revenues include (a) fees, fines and charges for services, and (b) grants and contributions that are
restricted for the operating or capital requirements of a specific program. All taxes and other revenues
not meeting the criteria for classification as program revenues are reported as general revenues.
Fund Financial Statements: The fund financial statements provide information about the County's
funds, including its fiduciary fund and blended component unit. Separate statements for each fund
category — governmental, proptietary, and fiduciary — are presented. The emphasis of fund financial
statements is on major governmental and enterprise funds, each displayed in a separate column. All
remaining governmental and enterprise funds are aggregated and reported as nonmajor funds.
Proprietary fund operating revenues, such as charges for services, result from exchange transactions
associated with the principal activity of the fund. Exchange transactions are those in which each party
F-2
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE I -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
receives and gives up essentially equal values. Nonoperating revenues, such as subsidies and
investment earnings, result from non-exchange transactions or ancillary activities.
The following are reported as major governmental funds:
General Fund —This fund is the general operating fund of the County. All general tax revenues
and other receipts that are not required either legally or by accounting principles generally
accepted in the United States of America to be accounted for in other funds are accounted for in
the General Fund.
Fine & Forfeiture Special Revenue Fund — This fund is to account for revenues received from
fines and forfeitures imposed from the commission of statutory offenses, ad valorem taxes that
are transferred to the Sheriff and to account for operations of the County's court support system.
Governmental Grants Special Revenue Fund —This fund is for projects and programs which are
financed in whole or in part by agencies of the Federal Government, State of Florida, and local
governments.
HIDTA Grants Special Revenue Fund — This fund is to account for all revenues and
expenditures for the ONDCP grants.
Comprehensive Plan Land Authority Special Revenue Fund — This fund is to account for the
operation of a land acquisition program and to implement the Monroe County Comprehensive
Plan.
One Cent Infrastructure Surtax Capital Proiect Fund —This fund is to account for various capital
improvements funded by the one cent infrastructure surtax.
Infrastructure Sales Surtax Revenue Bonds, Series 2007 Capital Proiect Fund —This fund is to
account for the proceeds and the approved projects identified in the same bond issue.
Debt Service Fund—This fund accounts for the accumulation of resources for, and the payment
of, all of the general governmental long-term debt principal and interest.
The following are reported as major enterprise funds:
Municipal Service District-Waste — This fund is 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 — This fund is for the operations of the County's only toll bridge located on
Card Sound Road.
Key West Airport — This fund is used to account for the operations of Monroe County's Key
West International Airport.
Marathon Airport — This fund is to account for the operations of Monroe County's Marathon
Airport.
F-3
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE I -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
The County also reports the following fund types:
Internal Service Funds — These funds account for the financing of worker's compensation
insurance, health insurance, general liability insurance and fleet maintenance services provided
to other County Departments on a cost reimbursement basis.
Pension Trust Fund — The volunteer firefighters and emergency services length of service
award plan is a pension trust fund to account for the receipt and disbursement of assets that are
held by the County in a trustee capacity.
Agency Funds — These funds account for assets held on behalf of third parties and do not
involve the measurement of operating results. Examples include taxes, fees, and fines collected
on behalf of other governments.
Measurement Focus and Basis of Accounting:
Government-wide, Proprietary, and Fiduciary Fund Financial Statements — These statements use a
flow of economic resources measurement focus and the accrual basis of accounting. Revenues are
recognized when earned and expenses are recognized when incurred, regardless of when the related
cash flows take place.
Non-exchange transactions, in which the County gives (or receives) value without directly receiving (or
giving) equal value in exchange, include property taxes, grants, entitlements, and donations. On an
accrual basis, revenue from grants, entitlements, and donations is recognized in the fiscal year in which
all eligibility requirements have been satisfied.
Amounts reported as program revenues include 1) charges to customers or applicants for goods,
services, or privileges provided, 2) operating grants and contributions, and 3) capital grants and
contributions, including special assessments. Internally dedicated resources are reported as general
revenues rather than as program revenues. Likewise, general revenues include all taxes.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating
revenues and expenses generally result from providing services and producing and delivering goods in
connection with a proprietary fund's principal ongoing operations. The principal operating revenues of
the County's enterprise funds are charges to customers for sales and services. Operating expenses for
enterprise funds include the cost of sales and services, administrative expenses, and depreciation on
capital assets. All revenues and expenses not meeting this definition are reported as nonoperating
revenues and expenses.
GASB Statement No. 20 Election - Pursuant to the election option made available by GAS13 Statement
No. 20, pronouncements of the Financial Accounting Standards Board (FASB) issued after November
30,1989 are not applied in the preparation of the County's enterprise fund financial statements.
Governmental Fund Financial Statements — These statements use a current financial resources
measurement focus, and are maintained on the modified accrual basis of accounting. Revenues are
recognized when they become susceptible to accrual; that is, when they become both "measurable"
and "available to finance expenditures of the current period." The County considers amounts collected
F-4
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE I -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
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 funds for payments to be made early in
the following year. Expenditures related to compensated absences are recorded only when leave has
been taken.
Revenues of the County, which are susceptible to accrual under the modified accrual basis of
accounting, include property taxes, gas taxes, grant, interest revenue, and charges for services. In
applying the susceptibility-to-accrual concept to intergovernmental revenues, the legal and contractual
requirements of the numerous individual programs are used as guidance. There are, however,
essentially two types of these revenues. In one, monies must be expended for the specific purpose or
project before any amounts will be paid to the County; therefore, revenues are recognized based upon
the expenditures recorded. In the other, monies are virtually unrestricted as to purpose of expenditure
and substantially irrevocable; i.e., revocable only for failure to comply with prescribed compliance
requirements, such as with equal employment opportunity. These resources are reflected as revenues
at the time of receipt or earlier if they meet the availability criterion. If revenues are expected to be
received later than 60 days following the end of the fiscal year, then a receivable is recorded, along with
deferred revenue. Once the funds are received, revenue and cash are recorded and the receivable
and deferred revenue are eliminated. Deferred revenue also includes unearned revenue when receipts
have not met all of the earning requirements.
Under the terms of the grant agreements, the County funds certain programs by a combination of
specific cost-reimbursement grants, categorical block grants, and general revenues. Thus when
program expenses are incurred, there are both restricted and unrestricted net assets available to
finance the program. It is the County's policy to first apply cost-reimbursement grant resources to such
programs, followed by categorical block grants, and then by general revenues.
Budgets and Budgetary Data - The following are the statutory procedures followed by the Board of
County Commissioners in establishing the budget for Monroe County.
1) On or before June 1 of each year the Sheriff, the Clerk of the Circuit Court, the Tax Collector, and
the Supervisor of Elections shall each submit to the Board a tentative budget for their respective
offices for the ensuing fiscal year.
2) Within fifteen days after certification of the ad valorem tax roll by the Property Appraiser, the
County Budget Officer submits to the Board a proposed budget for the fiscal year commencing
the following October 1. The budget includes proposed expenditures and the means of financing
them.
3) By Board resolution, a tentative budget is submitted to the public. Public hearings are held to
obtain taxpayer comments.
4) Fifteen days after adoption of the tentative budget, a final budget is submitted for review and
adoption at a final public hearing.
5) Prior to, or on September 30, the Board's budget is legally enacted through passage of a
resolution. Accordingly all fund types have an adopted budget as required by Florida Statute
129.03.
F-5
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
6) during the year, the Office of Management and Budget acts on intradepartmental budget changes
that do not alter the total revenue or expenditures budgeted to a cost center. A cost center
represents a particular area of Board operations or a department. All other budget changes
(whether they are transfers between cost centers or alterations of total revenues and expenditures
in a fund) are approved by the Board. Supplemental appropriations were necessary and the
budgetary data presented herein was amended by the Board during the year.
7) Florida Statute 129, Section 7, as amended in 1978, provides that only expenditures in excess of
total fund budgets are unlawful. However, because the Board acts on all budget changes
between cost centers, this becomes the level of control.
8) Budgeted to actual expenditure reports are employed as a management control device during the
year for all fund types.
9) Budgets for all funds are adopted on a basis consistent with accounting principles generally
accepted in the United States of America (GAAP) for that fund type, except that mortgage
assistance cash outlays and receipts are budgeted as operating activities and compensation
accruals are not budgeted in the Monroe County Comprehensive Plan Land Authority Special
Revenue Fund. For the fiscal year 2010 the following adjustments were necessary to present the
actual data on a budgetary basis for MCLA.
GAAP basis $2,401,768
Compensation accrual 660
Non-GAAP budgetary basis $2,402,428
Encumbrances - Encumbrance accounting, under which purchase orders, contracts, and other
commitments for the expenditure of moneys are recorded as a reservation of budget, is employed as
an extension of the statutorily required budgetary process. Under Florida Statutes, appropriations,
even if encumbered, lapse at fiscal year end. Encumbrances outstanding at September 30, 2010,
represented by purchase orders and other executory contracts, were $5,283,528. It is the County's
intention to substantially honor these encumbrances under authority provided in the subsequent year's
budget.
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.
Cash and Cash Equivalents — Cash balances from the majority of funds are pooled for investment
purposes. Earnings from such investments are allocated to the respective funds based on applicable
cash participation by each fund. The investment pools are managed such that all participating funds
have the ability to deposit and withdraw cash as if they were demand deposit accounts, and therefore
all balances representing participants' equity in the investment pools are classified as cash equivalents
for purposes of these statements. For investments, which are held separately from the pools, those,
which are highly liquid (including restricted assets) with an original or remaining maturity of 90 days or
less, are considered to be cash equivalents.
Investments - Florida Statute 218.415 authorizes local governments to invest its funds pursuant to a
written investment plan, which allows investment of surplus funds in the following:
F-6
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE I -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
1) The Florida Local Government Surplus Funds Trust Fund Investment Pool (SBA).
2) United States Government Securities — Negotiable direct obligations or obligation, the
principal and interest of which are unconditionally guaranteed by the United States
Government.
3) United States Government Agencies — Bonds, debentures, notes, callables and fixed rate
mortgage-backed securities issued or guaranteed by United States Government Agencies,
provided such obligations are backed by the full faith and credit of the United States.
4) Federal Instrumentalities (United States Government-sponsored agencies) — senior
obligations, which include bonds, debentures, notes, callables and fixed rate mortgage-
backed securities issued or guaranteed by United States government-sponsored agencies
(Federal Instrumentalities). These are limited to the following:
■ Federal Farm Credit Bank (FFCB)
■ Federal Home Loan Bank or its County banks (FHLB)
■ Federal National Mortgage Association (FNMA)
■ Federal Home Loan Mortgage Corporations (Freddie-Macs) including Federal
Home Loan Mortgage Corporation participation certificates.
5) Interest-bearing Time Deposit or Savings Account — Non-negotiable interest-bearing time
certificates of deposit or savings accounts in financial institutions organized under the laws
of this State and/or in national financial institutions organized under the laws of the United
States and doing business and situated in the State of Florida, provided that any such
deposits are secured by the Florida Security for Public Deposits Act, Chapter 280, Florida
Statutes. Additionally, the financial institution shall not be listed with any recognized credit
watch information service.
6) Registered Investment Companies (Money Market Mutual Funds) — Shares in open-end
and no-load Money Market Mutual Funds provided such funds are registered under the
Federal Investment Company Act of 1940 and operate in accordance with 17 C.F.R.
270.2a-7, which stipulates that money market funds must have an average weighted
maturity of 90 days or less. In addition, the share value of the money market funds must
equal to $1.00.
7) Intergovernmental Investment Pool — Intergovernmental Investment Pools that are
authorized pursuant to the Florida Interlocal Cooperation Act, as provided in Section
163.01, Florida Statutes.
All investments are stated at fair value.
Accounts Receivable -Amounts due from private individuals or organizations are reported as accounts
receivable. Receivables are reviewed periodically to establish or update the provisions for uncollectible
amounts. These provisions are estimated based on an analysis of the age of the various accounts.
Interfund Balances and Activity - During the course of normal operations, the County has numerous
transactions between funds. Examples of these transactions include providing services, constructing
assets, matching grants or servicing debt. These transactions are generally recorded as interfund
transfers, except for internal service fund charges, which are reflected as revenues to internal service
funds and expenses/expenditures to the funds receiving the services.
As part of the consolidation process, to avoid distorting financial results, the interfund activities are
eliminated in the General Fund. Interfund activities such as municipal and unincorporated service
district's policing, 911, and interagency communications are reported as a revenue in the fund that
F-7
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE I -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
captures the revenue and as an expenditure in the fund which disburses the funds for the service. The
offsetting expenditures and revenues are re-classed to interfund transfers. However, interfund security
services provided by the Sheriff and used by the airports, are not eliminated.
Additionally, short-term interfund loans are recorded from time to time as cash flow needs arise. As of
fiscal year-end, any unpaid amounts related to these transactions are reported as "due from other
funds" or "due to other funds" on the fund financial statements. Interfund loans not expected to be
repaid within one year are reported as advances. In governmental funds, advances, if any, are offset
equally by a fund balance reserve, which indicates that they do not constitute expendable available
financial resources and, therefore, are not available for appropriation.
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. No
reserve has been established within the General Fund balance as the consumption method is used to
account for this inventory.
Restricted Assets - The use of certain assets of enterprise funds is restricted by specific provisions of
bond resolutions and agreements with various parties. Assets so designated are identified as restricted
assets on the balance sheet. When both restricted and unrestricted resources are available for use,
the County's policy is to use restricted resources first, and then unrestricted resources, as they are
needed.
Mortgage/Notes Receivable - The outstanding principal balance reported as Mortgages/Notes
Receivable in the Comprehensive Land Authority special revenue fund is equally offset by a fund
balance reserve as these amounts are not available for current expenditure. This also represents the
primary difference in fund balance for the Comprehensive Plan Land Authority Special Revenue Fund
on a GAAP basis versus the budgetary basis.
The mortgages receivable associated with the Governmental Grants, the Affordable Housing Programs
and the Local Housing Assistance fund are intended to ultimately be forgiven; as such they are offset
by an allowance for uncollectible accounts.
Deferred Changes - Unamortized debt issuance expenses are reported as a deferred charge and is
amortized by using the straight-line method over the life of the debt.
Capital Assets — Capital assets are reported in the applicable governmental or business-type activities
column in the government-wide financial statements. Capital assets of the County include property,
buildings, equipment, and infrastructure assets (e.g. roads, bridges, curbs and gutters, streets and
sidewalks, drainage systems and lighting systems). Constructed or purchased assets are recorded at
historical or estimated historical cost at the time of purchase. Donated assets are recorded at
estimated fair market value at the date of donation. Costs of maintenance and repairs that do not add
to the value of assets or extend their useful lives are not capitalized.
The County maintains a $1,000 threshold for additions to 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
F-8
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
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.
When the MCLA acquires land by donation, the asset is recorded at the Authority's transaction cost
plus the higher of the tax assessed value at the time of donation or 115% of the 1986 tax assessed
value.
All capital assets except land and construction in progress are depreciated using the straight-line
method. Depreciation has been provided using the straight-line method. The estimated useful lives of
the various classes of depreciable capital assets are as follows:
Life—Years
Buildings 10-50
Equipment 5-10
Infrastructure 10-50
Public domain infrastructure 20-50
Capacity rights 99
Capacity rights represent an intangible asset that arose from a contract with a private wastewater
operator that included wastewater processing capacity for 1,500 equivalent dwelling units for a period
of 99 years.
As required by the interest topic of the FASB Accounting Standards Codification, enterprise funds
capitalize interest cost net of interest income from the proceeds of related tax-exempt debt, as part of
the cost of the related assets. There was no capitalized interest cost at fiscal year end.
Compensated Absences — County policy permits employees to accumulate a limited amount of annual
and sick leave, which will be paid to employees upon termination of employment. In the government-
wide and proprietary fund financial statements, an expense and a liability for compensated absences
and the salary-related payments are recorded as the leave is earned.
Landfill Closure Costs - Under the terms of current state and federal regulations, the County is required
to place a final cover on closed landfill areas, and to perform certain monitoring and maintenance
functions for a period of up to 30 years after closure. In accordance with GASB Statement No. 18, the
County is recognizing these costs of closure and post closure maintenance over the active life of each
landfill area, based on landfill capacity used during the period. Required obligations for these costs are
recognized in the Municipal Service District-Waste enterprise fund for public landfill operations.
Deferred Revenue - Deferred revenues include amounts collected before the revenue recognition
criteria are met. In the governmental fund statements, amounts associated with receivables which,
under the modified accrual basis of accounting, are measurable but not yet available are reported as
deferred revenues. The deferred items of the County additionally consist of contracts for providing
services in the future and grant funds received in advance of expenditures. Unearned revenues are
primarily associated with state and federal grants.
Long-Term Obligations — In the proprietary fund financial statements of the County, long-term debt is
reported as a liability in the proprietary fund statement of net assets. Long-term debt associated with
the County's governmental activities is presented on the government-wide financial statements of the
F-9
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
County. In the County's governmental fund financial statements, the face amount of debt issued is
reported as another financing source, while principal payments are reported as expenditures.
Property Taxes - Property taxes, based on assessed values at January 1, are levied and become due
and payable on November 1st of each year. A four percent discount is allowed if the taxes are paid in
November, with the discount declining by one percent each month thereafter. Taxes become
delinquent on April 1st of each year, and tax certificates for the full amount of any unpaid taxes and
assessments must be sold not later than June 1st of each year. No accrual for the property tax levy
becoming due in November of 2009 is included in the accompanying financial statements, since such
taxes are collected to finance expenditures of the subsequent period.
Fund Balances— In the governmental fund financial statements, reserves or restrictions of fund balance
represent portions of fund balance which are not available to be appropriated for expenditures or which
have been segregated for specific future uses. Designations of fund balance represent tentative
management plans for financial resources utilization in a future period. Such designations are subject
to change and may never be legally authorized for expenditure or result in expenditures.
The governmental fund types classify fund balances as follows:
Reserved
Reserved for Encumbrances - portion of fund balance available to pay or any commitments
related to purchase orders and contracts that remain unperformed at year-end.
Reserved for Land Acquisition — portion of fund balance MCLA restricted for land acquisition.
Reserved for Mortgage Loans — portion of fund balance offsetting mortgages receivable for
MCLA because they are not available spendable resources.
Reserved for Debt Service - portion of fund balance available to pay for any commitments
related to outstanding debt at year-end.
Unreserved
Designated for Nonmajor Special Revenue — a portion of fund balance is designated by the
County in the Tourist Development District One, Three Cent Special Revenue Fund for beach
nourishment projects.
Undesignated —a portion of total fund balance available for appropriation that is uncommitted at
fiscal year end.
Budgetary Legal Compliance and Fund Deficits—All funds have legally adopted budgets, except for the
Supervisor of Elections' Voter Education and Equipment Special Revenue Fund. There are no fund
deficits to report at September 30, 2010.
Excess of Expenditures Over Appropriations in the 2010 Comprehensive Plan cost center (Board's
level of budgetary control) of the Unincorporated Area Service District— Planning, Building and Zoning
F-10
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE I -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Special Revenue Fund was $14,926. These expenditures were not identified timely in order to have an
unanticipated budget resolution approved.
Net Assets—Net assets in the proprietary fund financial statements are classified as invested in capital
assets, net of related debt; restricted; and unrestricted. Restricted net assets represent 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. There is a designation of unreserved
net assets in the Risk Management Internal Service Fund in the amount of $1,500,000 for future
catastrophic losses. This designation represents tentative management plans that are subject to
change.
NOTE 2 - CASH, CASH EQUIVALENTS AND INVESTMENTS
The County maintains a cash and investment pool that is available for use by all funds except those
whose cash and investments must be segregated due to bond covenants or other legal restrictions.
As of September 30, 2010 the carrying value of the County's deposits and investments, other than that
of the Pension Trust Fund, with their respective credit ratings are as follows:
Credit Less than 6 6 Months to
Investment Type Rating Fair Value Months I Year I to 3 Years
Demand and Time Deposits N/A $ 70,398,227 $ 70,398,227 $ - $ -
Local Gov't Surplus Funds Unrated 378,261 190,691 187,570
US Treasury Notes TSY 75,534,983 42,996,427 4,421,928 28,116,628
Federal Agency—Notes & Bonds AAA 92,695,606 26,894,657 34,905,307 30,895,642
Commercial Paper A-I+ 887,950 887,950 - -
Total Fair Value $239,895,027 $141,367,952 $ 39,327,235 $59,199,840_
Credit Risk — The County's Investment Policy (Policy) limits credit risk by restricting authorized
investments to the following: Florida Local Government Surplus Funds Trust Fund Investment Pool
administered by Florida's State Board of Administration (a 2a7-like pool), direct obligations of the
United States or its agencies and instrumentalities, money market mutual funds, and Intergovernmental
Investment Pools authorized by the Florida Statutes. The Policy requires that investments in federal
instrumentality debt be guaranteed by the full faith and credit of the U. S. Government sponsored
agency, and that investments in money market mutual funds have a rating of AAAm or AAAm-G or
better by Standard & Poor's (S&P) or other nationally recognized rating agency. All credit ratings
indicated in the previous table are S&P ratings.
Concentration of Credit Risk — The Policy establishes limitations on portfolio composition, both by
investment type and by issuer, in order to control concentration of credit risk. The Policy provides the
following maximum limits of the portfolio, with limits in any one issuer of the portfolio invested:
F-1 1
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 2 -CASH, CASH EQUIVALENTS AND INVESTMENTS—(Continued)
Portfolio Maximum in
Investment Type Maximum any one issuer
Florida Local Government Surplus Funds Trust Fund 100% n/a
United States Government Securities 100% n/a
United States Government Agencies 50% 10%
Federal Instrumentalities 80% 30%, with a maximum of
Maximum in callable securities 25% in callable securities
Interest-bearing Time Deposit or Savings Accounts 10% 10%
Money Market Mutual Funds 20% 10%
Intergovernmental Investment Pool 10% n/a
At September 30, 2010 the portion of the County's investment portfolio invested in Federal
instrumentalities is detailed as follows:
Percent of
Issue Investment Portfolio
Federal Home Loan Bank (of which 4.12% is callable) 22.67%
Federal Home Loan Mortgage Corp (of which 3.27% is callable) 18.09%
Federal National Mortgage Assoc(of which 10.65% is callable) 11.15%
Federal Farm Credit Bank 2.90%
Custodial Credit Risk—The Policy requires bank deposits secured as provided by Chapter 280, Florida
Statutes. This law requires local governments to deposit funds only in financial institutions designated
as qualified public depositories by the Chief Financial Officer of the State of Florida, Demand and time
deposits are fully insured by the FDIC for the first $250,000 at each institution and the remaining
balances are insured 100% by the State of Florida collateral pool, a multiple institution pool with the
ability to assess its members for collateral shortfalls if a member institution fails.
The Policy requires execution of a third-party custodial safekeeping agreement for all purchased
securities, and requires that securities be held in the County's name. As of September 30, 2010, all of
the County's investments are held in a bank's trust department in the County's name.
Interest Rate Risk — The Policy limits the investment of three months of operating expenditures to
twelve months. The Policy limits the investment of non current operating funds to five years.
Cash and Cash Equivalents — The County has the following unrestricted and restricted cash and cash
equivalents at September 30, 2010:
F-12
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 2 -CASH, CASH EQUIVALENTS AND INVESTMENTS-(Continued)
Local Government Demand
Surplus Trust Fund Deposits Total
Unrestricted Cash & Cash Equivalents:
Governmental Activities:
Governmental Funds $ 376,926 $56,560,351 $56,937,277
Internal Service Funds - 2,144,233 2,144,233
Business-Type Activities - - 1,124,592 1,124,592
Total Unrestricted Cash & Cash Equivalents 376,926 59,829,176 60,206,102
Restricted Cash and Cash Equivalents:
Business-Type Activities 1,335 4,697,724 4,699,059
Total Cash and Cash Equivalents $ 378,261 $64,526,90 $64,905,1$A
At September 30, 2010 the fiduciary funds had pooled cash balances totaling $5,953,747 in demand
deposits including the Pension Trust Fund cash of$82,420.
NOTE 3- RESTRICTED ASSETS
Restricted assets in the Enterprise Funds include those created by resolutions adopted by the County
for the landfill escrow account, airport passenger facility charges, and the issuance of Key West Airport
Revenue Bonds. Total restricted assets as of September 30, 2010 are as follows:
Cash and
Cash Interest
Equivalents Investments Receivable Total
Municipal District Waste
Landfill Closure Escrow $ 20,411 $ 1,874,392 $ 3,825 $ 1,898,628
Key West Airport
Passenger Facility Charge 1,837,351 748,107 3,535 2,588,993
Sinking Fund 1,593,592 - - 1,593,592
Renewal and Replacement 44,841 481,389 2,599 528,829
Debt Service Reserve - 2,736,768 24,857 2,761,625
Construction Fund 880,950 989,388 3,451 1,873,789
Operating Reserve 87,097 174,870 34 262,001
Arbitrage Rebate 234,817 - - 234,817 .
$ 4,699,059 $ 7,004,914 $ 38,301 $ 11,742,274
F-13
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
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
Accounts Uncollectible Receivable,
Service Provided Receivable Accts Net
Governmental Activities:
General Fund Misc $ 32,652 $ - $ 32,652
Fine & Forfeiture Fund Air Amb Svc 4,057,807 3,325,811 731,996
HIDTA Grants Fund Misc 13,329 - 13,329
Nonmajor Funds:
Fire & Amb Dist 1 Fund Ground Amb Svc 1,443,309 1,188,802 254,507
Other Nonmajor Funds Misc 94,196 - 94,196
Internal Service Funds Misc 35,951 1,977 33,974
Total Governmental Activities 5,677,244 4,516,590 1,160,654
Business-Type Activities:
MSD-Waste Fund: Tipping Fees 22,322 2,586 19,736
Waste Assessments 571,534 540,055 31,479
Solid Waste Franchise 379,774 - 379,774
Key West Airport Rent, PFC, Misc 737,454 62,920 674,534
Marathon Airport Misc 28,730 - 28,730
Total Business-Type Activities 1,739,814 605,561 1,134,253
Total Accounts Receivable $7,417,058 $5,122,151 $2,294,907
The County approved an air ambulance billing write off during the year of $185,698 and a ground
ambulance billing write off of$304,177.
NOTE 5 - MORTGAGES RECEIVABLE
Mortgages receivable at September 30, 2010 consist of the following:
Major Governmental Funds:
Governmental Grants Fund:
Second Mortgages Receivable from individuals, collateralized by personal
residences. The entire amount of the loan will be forgiven over a five-year period at
a rate of one fifth per year, beginning on the 1 st anniversary of the completion of the
construction of the improvements funded by the mortgage, provided that the
mortgagor complies with the mortgage covenants. $ 74,132
Comprehensive Plan Land Authority Fund:
First mortgage due from governmental agency, collateralized by land, payable in
full April 2028, interest free 382,554
F-14
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 6 - MORTGAGES RECEIVABLE—(Continued)
Second mortgage due from governmental agency, collateralized by land, payable 1,500,000
in full November 2034, interest free
Second mortgage due from governmental agency, collateralized by land, payable
in full January 2034, interest free 2,210,000
First mortgage due from governmental agency, collateralized by land, payable in
full September 2045, interest free 59,025
Third mortgage due from private company, collateralized by land, payable in full
May 2050, interest free 1,089,000
Third mortgage due from private company, collateralized by land, payable in full
September 2053, interest free 1,500,000
Second mortgage due from governmental agency, collateralized by land, payable 836,000
in full July 2040, interest free
Third Mortgage due from governmental agency, collateralized by land, forgivable 800,000
July 2040, interest free
8,376,579
Nonmaior 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. 104,774
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. 7,972,364
F-15
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 6 -MORTGAGES RECEIVABLE—(Continued)
Second Mortgages Receivable from individuals, collateralized by personal
residences. The entire balance of the mortgage will be forgiven over a ten year
period at the rate of ten percent per year upon the anniversary of the mortgage,
provided that the mortgagor complies with the mortgage covenants. The
mortgages are interest free. 989,159
9,066,297
Total Mortgages Receivable $ 17,517,00B
NOTE 6—CAPITAL ASSETS
Internal service fund capital asset information is included in the governmental activities on the
government-wide financial statements, because the internal service funds predominately serve those
activities.
Capital asset activity for the year ended September 30, 2010 is as follows:
Beginning Ending
Balances Additions Reductions Balances
Governmental Activities
Capital assets not depreciated:
Land $ 88,847,958 $ 745,310 $ 1,326,969 $ 88,266,299
Construction in progress 89,158,963 2,702,525 45,109,022 46,752,466
Total capital assets not depreciated 178,006,921 3,447,835 46,435,991 135,018,765
Capital assets depreciated:
Buildings 105,087,054 44,291,809 - 149,378,863
Equipment 61,332,024 4,241,106 3,928,849 61,644,281
Infrastructure 49,331,326 858,345 433,825 49,755,846
Capacity rights 3,150,000 - - 3,150,000
Total capital assets depreciated 218,900,404 49,391,260 4,362,674 263,928,990
Less accumulated depreciation for:
Buildings 40,431,541 3,247,201 - 43,678,742
Equipment 34,408,257 4,717,761 2,705,518 36,420,500
Infrastructure 23,963,856 1,035,027 96,434 24,902,449
Capacity rights 159,090 31,818 - 190,908
Total accumulated depreciation 98,962,744 $9,031,807 $2,801,952 105,192,599
Total capital assets depreciated, net 119,937,660 158,736,391
Governmental funds, capital assets, net $297,944,581 $ 293,755,156_
F-16
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 6—CAPITAL ASSETS—(Continued)
Beginning Ending
Balances Additions Reductions Balances
Business-type Activities:
Capital assets not depreciated:
Land $ 4,802,020 $ 339,767 $ - $ 5,141,787
Construction in progress 42,785,215 3,803,510 39,094,953 7,493,772
Total capital assets not depreciated 47,587,235 4,143,277 39,094,953 12,635,559
Capital assets depreciated:
Land improvements 212,925 - - 212,925
Buildings 22,681,998 32,785,157 - 55,467,155
Equipment 4,432,572 199,163 365,911 4,265,824
Infrastructure 34,754,632 6,309,795 - 41,064,427
Total capital assets depreciated 62,082,127 39,294,115 365,911 101,010,331
Less accumulated depreciation for:
Land improvements 212,925 - - 212,925
Buildings 5,661,744 1,378,313 - 7,040,057
Equipment 2,989,018 274,513 297,050 2,966,481
Infrastructure 12,988,495 1,333,815 - 14,322,310
Total accumulated depreciation 21,852,182 $ 2,986,641 $ 297,050 24,541,773
Total capital assets depreciated, net 40,229,945 76,468,558
Business-type activities, capital assets,
net $87,817,180 $ 89,104,117
Depreciation was charged to functions/programs on the government-wide Statement of Activities of the
County as follows:
Governmental Activities: Business-type Activities:
General Government $1,423,885 Municipal Service District-Waste $ 56,924
Public Safety 4,944,413 Card Sound Bridge 416,088
Physical Environment 94,816 Key West Airport 1,951,437
Transportation 1,002,705 Marathon Airport 562,192
Economic Environment 5,263 Total Business-type Activities $2,986,641
Human Services 332,775
Culture and Recreation 443,652
Court Related 784,298
Total Governmental Activities $9,031,807
F-1 7
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 7— POST EMPLOYMENT BENEFITS OTHER THAN PENSION
Plan Description The Monroe County Board of County Commissioners (BOCC) administers a single-
employer defined benefits healthcare plan (the "Plan"). Florida Statutes 112.0801 requires the County
to provide retirees and their eligible dependents with the option to participate in the Plan if the County
provides health insurance to its active employees and their eligible dependents. The Plan provides
medical coverage and prescription drug benefits to both active and eligible retired employees. The Plan
does not issue a publicly available financial report.
The BOCC may amend the plan design, with changes to the benefits, premiums and/or levels of
participant contribution at any time. In an open session, on at least an annual basis and prior to the
annual enrollment process, the BOCC approves the rates for the coming calendar year for the retiree
and County contributions.
Eligibility for post employment participation in the Plan is limited to full time employees of the County,
and the Constitutional Officers. At September 30, 2010, there were no terminated employees entitled
to deferred benefits. The membership of the County's medical plan consisted of:
Active Employees 1,257
Retirees and beneficiaries currently receiving benefits 370
Total Membership 1,627
Funding Policy The contribution requirements of plan members and the County are established and
may be amended by the County. The required contribution is based on pay-as-you-go financing
requirements, net of member contributions.
Employees who retire as an active participant in the Plan and were hired on or after October 1, 2001
may continue to participate in the Plan by paying the monthly premium established annually by the
BOCC. Employees who retire as an active participant in the plan, were hired before October 1, 2001,
have at least ten years of full time service with the County, and meet the retirement criteria of the
Florida Retirement System (FRS) may continue to participate in the Plan at a cost equal to the FRS
Health Insurance Subsidy for ten years of service (currently$5 per month for each year of service credit
at retirement or $50 per month). Retirees who have met the requirements for early retirement, have not
achieved age 60 and whose age and years of service do not equal 70 (rule of 70) must pay the
standard monthly premium until the age criteria or the rule of 70 is met. At that time, the retiree's cost
of participation will be equal to the FRS Health Insurance Subsidy. Surviving spouses and dependents
of participating retirees may continue in the plan if eligibility criteria specific to those classes are met.
For the fiscal year 2010, the County contributed the following:
F-18
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 7—POST EMPLOYMENT BENEFITS OTHER THAN PENSION—(Continued)
Claims paid by Group Insurance Fund $ 3,644,214
Allocation of administrative expenses and incurred but
not reported costs (IBNR) 149,813
OPEB costs 3,794,027
Less retiree contributions (646,045)
County contribution $ 3,147,982
Annual OPEB Costs and Net OPEB Obligation — The County's annual other postemployment benefit
(OPEB) cost (expenses) is calculated based on the annual required contribution of the employer (ARC),
an amount actuarially determined in accordance with the parameters of GASB Statement 45. The ARC
represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost each
year and amortize any unfunded liabilities over a period not to exceed thirty years. The following table
shows the actuarially determined components as of October 1, 2009 under the current plan provisions,
of the County's unfunded annual OPEB cost, the amount actually contributed to the plan and the
changes in the County's net OPEB obligation to the plan.
Annual Required Contribution $ 9,481,000
Interest on net OPEB obligation 428,000
Adjustment to annual required contribution (363,000)
Annual OPEB cost 9,546,000
Less Contributions made (3,147,982)
Increase in net OPEB obligation 6,398,018
Net OPEB obligation, beginning of year 9,507,262
Net OPEB obligation, end of year $ 15,905,280
The County's annual OPEB cost, the percentage of annual OPEB cost contributed to the plan and the
net OPEB obligation for 2010 and the two preceding years were as follows (amounts expressed in
thousands):
Fiscal Annual Percentage of Net
Year OPEB Annual OPEB OPEB
Ended Cost Cost Contributed Obligation
9/30/08 $ 7,048 23.4 % $ 5,399
9/30/09 $ 7,048 41.7 % $ 9,507
9/30/10 $ 9,546 33.0 % $ 15,905
F-19
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 7—POST EMPLOYMENT BENEFITS OTHER THAN PENSION —(Continued)
The net OPEB obligation at the end of the year is $15,063,874 for Governmental Activities and
$841,406 for Business-type Activities. This total net OPEB obligation includes employees of the Board
as well as the Constitutional Officers.
No trust or agency fund has been established for the plan; there were no adjustments to the annual
required contribution or interest earnings.
Funded Status and Funding Prowess —At September 30, 2010, funded status and funding progress is
as follows (amounts expressed in thousands):
Actuarial UALL as a
Accrued Percentage
Actuarial Actuarial Liability- Of
Valuation Value of Projected Unfunded Funded Covered Covered
Date Assets Unit Credit AAL Ratio Payroll Payroll
10/01/07* $ $ 79,637 $ 79,637 0 % $ 68,193 116.80 %
10/01/09 $ $ 142,473 $ 142,473 0 % $ 65,357 217.99 %
*Initial year of plan disclosure, no prior data available
Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and
assumptions about the probability of occurrence of events far into the future. Examples include
assumptions about future employment, mortality, and the healthcare cost trend.
Amounts determined regarding the funded status of the plan and the annual required contributions of
the employer are subject to continual revision as actual results are compared with past expectations
and new estimates are made about the future. The schedule of funding progress, presented as required
supplementary information following the notes to the financial statements, presents trend information
about whether the actuarial value of plan assets is increasing or decreasing over the time relative to the
actuarial accrued liabilities for benefits.
Actuarial Methods and Assumptions Projections of benefits for financial reporting purposes are based
on the substantive plan (the plan as understood by the employer and plan members) and include the
types of benefits provided at the time of each valuation and the historical pattern of benefit cost sharing
between the employers and plan members to that point.
The valuation dated December 13, 2010, for the fiscal dates of October 1, 2009 to September 30, 2010,
was prepared using generally accepted actuarial principles and practices, and relied on unaudited
census data and medical claims data reported by the County. The valuation used the unit credit
actuarial method. Demographic assumptions mirror those used for the various Florida Retirement
System pension funds. The actuarial assumptions include an annual health care cost trend rate of
11.0% initially, reduced by decrements to an ultimate rate of 5.0% over twelve years. The assumptions
included a discount rate that is tied to the return expected on the funds used to pay the benefits, and
assumes for an unfunded plan, that the benefits continue to be funded on a pay-as-you-go basis and
that the County's investments earn a 4.5% rate of return over the long term. The unfunded accrued
F-20
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 7— POST EMPLOYMENT BENEFITS OTHER THAN PENSION—(Continued)
actuarial liability is amortized over thirty years on an open basis, as a level percentage of the projected
payroll, which is assumed to increase at 3.5% per annum.
NOTE 8 - RETIREMENT PLAN
Florida Retirement System:
Plan Description — Substantially all full-time County employees are participants in the Florida
Retirement System, (FRS), administered by the Florida Department of Administration. Employees elect
to participate in either the defined benefit plan ("Pension Plan"), a multiple-employer; cost-sharing
public employee defined benefit retirement plan, or the defined contribution plan (investment Plan)
under the FRS. FRS provides retirement and disability benefits, annual cost-of-living adjustments, and
death benefits to plan members and beneficiaries of various governmental units within the State of
Florida. Benefits are established by Chapter 121, Florida Statutes, and Chapter 605, Florida
Administrative Code. Amendments to the law can be made only by Act of the Florida legislature.
The FRS provides for vesting of benefits after 6 years of credited service. Normal retirement benefits
are available to employees who retire at or after age 62 with 6 or more years of service. Early
retirement is available after 6 years of service with a 5% reduction in benefits for each year prior to the
normal retirement age. Retirement benefits are based on age, average compensation and years-of-
service credit where average compensation is computed as the average of an individual's five highest
years of earnings. Employees are not required to contribute to this retirement system.
In addition to the above benefits, the FRS administers a Deferred Retirement Option Program
("DROP"). This program allows eligible employees to defer receipt of monthly retirement benefit
payments while continuing employment with a FRS employer for a period not to exceed 60 months
after electing to participate. Deferred monthly benefits are held in the FRS Trust Fund and accrue
interest.
For employees who elect to participate in the Investment Plan rather than the Pension Plan, vesting
occurs at one year of service. These participants receive a contribution of self-direction in an
investment product with a third party administrator selected by the State Board of Administration.
The Florida Division of Retirement issues a publicly available financial report that includes financial
statements and required supplementary information for the FRS. The report may be obtained by writing
to Florida Division of Retirement, 2639 Monroe Street, Building C, Tallahassee, FL 32399-1560, or from
the website www.frs.state.fl.us.
Funding Policy — The FRS is noncontributory for members. Participating employer contributions are
based upon state-wide rates established by the State of Florida. These rates are applied to employee
salaries as follows: regular employees, 10.77%, special risk employees, 23.25%, special risk
administrative support 13.24%; elected officials, 18.64%, senior management 14.57%, and DROP
participants 12.25%.
F-21
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 8 - RETIREMENT PLAN —(Continued)
The County contributed to the plan an amount equal to 14.16% of covered payroll during the fiscal year
ended September 30, 2010. The County's contributions made during the years ended September 30,
2010, 2009, and 2008 were $9,254,338, $9,015,103, and $9,340,689, respectively, equal to the
required contributions for each year.
The County has historically contributed amounts equal to required contributions and, therefore, does
not have a pension asset or liability as determined in accordance with GASB Statement No. 27.
NOTE 9 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL
SERVICES
Plan Description —The Monroe County, Florida Volunteer Firefighter and Emergency Medical Services
Length of Service Award Plan (LOSAP) is a single-employer defined benefit pension plan created in
1999 and administered by the Board. Upon completion of ten (10) years of service, prior to normal
retirement age, and in accordance with the terms of LOSAP, a plan member is considered vested.
LOSAP provides retirement and death benefits to plan members and beneficiaries. Monroe County
Ordinance 026-1999 defines the authority under which contribution and benefit provisions may be
amended. This authority is presently held by the Board. LOSAP shall be administered in accordance
with the requirements of Chapter 112, Part VII, Florida Statutes.
LOSAP had 61 participants of which 32 are active, 22 are inactive and 7 are retired members for the
plan year ended December 31, 2009 and the County's fiscal year ending September 30, 2010.
Separate, stand-alone financial statements for LOSAP are not provided.
Summary of Significant Accounting Policies — The financial statements of LOSAP are prepared using
the accrual basis of accounting. The Contributions are recognized when due. Benefits are recognized
when due and payable in accordance with the terms of LOSAP. Administrative costs are paid by the
Board. Actuarial valuation costs are paid by LOSAP. All plan investments are reported at fair value.
The actuarial value of assets is based on market value.
Funding Policy—Annually, as determined by the actuarial study, the Board shall appropriate funds from
the budgets of the various volunteer fire/rescue districts. These funds will be applied as a contribution
to LOSAP. Plan members do not contribute. The current contribution rate is $389 per volunteer year of
service. Below is a schedule of funding progress for six years.
Actuarial UALL as a
Actuarial Actual Accrued Unfunded Percentage
Valuation Value of Liability AAL Funded Covered of Covered
Date Assets fAAL) (UAAL) Ratio Payroll Payroll
12/31/2004 $562,738 $887,105 $324,367 63.4% NA NA
12/31/2005 626,637 968,291 341,654 64.7% NA NA
12/31/2006 700,939 802,005 101,066 87.4% NA NA
12/31/2007 725,508 767,315 41,807 94.6% NA NA
12/31/2008 782,060 849,172 67,112 92.1% NA NA
12/31/2009 817,512 841,547 24,035 97.1% NA NA
F-22
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 9 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL
SERVICES—(Continued)
NA - Contributions and benefits are calculated based on years of service as the participants are unpaid
volunteers. As a result, there is no related covered payroll and no UALL as a percentage of covered
payroll. A variation of the aggregate actuarial cost method is being used to value the benefits.
Because this method does not identify or separately amortize unfunded actuarial accrued liabilities,
information about funded status and funding progress is presented using the entry age actuarial cost
method and that the information presented is intended to serve as a surrogate for the funded status and
funding progress of the plan.
Annual Pension Cost — The Board's annual pension cost of $23,714 was equal to the required
contribution. The annual required contribution was determined as part of the January 1, 2009 actuarial
valuation using the Aggregate Method. Allocations are based on years of service and the aggregation
used is by fire district. This method does not separately amortize unfunded actuarial liabilities. Under
this method, gains and losses are spread over future normal costs.
The significant actuarial assumptions used to compute the pension benefit obligation were:
1. Investment Yield: 2.5%for both present and future
2. Mortality Pattern: Not applicable
3. Salary increases: Not applicable; Benefits not based on salary
4. Termination: Godwin's Table 1, V Select & Ultimate Table, with 50%termination prob for Y0S<1
5. Inflation: No increase as benefits are based on a flat amount per year of service
The annual pension cost (APC), the percentage of APC contributed to the plan, and the net obligation
for the plan year ending December 31, 2009 and the five preceding years were as follows:
Fiscal Annual Percentage Net
Year Pension of APC Pension
Ending Cost (APC} Contributed Obligation
12/31104 $58,904 100% -
12/31/05 61,050 100% -
12/31/06 24,233 100% -
12/31/07 28,477 100% -
12/31/08 24,777 100% -
12/31109 23,714 100% -
NOTE 10—CAPITAL COMMITMENTS
Construction projects under present contractual agreements as of September 30, 2010 are as follows:
F-23
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 10—CAPITAL COMMITMENTS—(Continued)
Project Construction Commitments
Duck Key Wastewater $ 11,756,086
Key Largo WWTD ILA 3,253,876
Key West Airport Terminal 1,450,828
KW Airport Runway Safety Area 1,287,083
Big Coppitt Wastewater 891,244
Key West Noise Imp Proj. Ph. 7 838,258
Freeman Justice Center 537,201
Geiger Creek Bridge Repair 449,769
Marathon EOC 201,632
Miscellaneous 491,713
Total $ 21,157,690
The Comprehensive Plan Land Authority has approximately $259,717 of commitments to acquire
various properties and $1,180,000 of commitments to issue mortgage loans as of September 30, 2010.
NOTE 11 — LEASE OBLIGATIONS
Capitalized lease obligations are stated at the original fair market value of leased assets capitalized,
less payments since the inception of the lease discounted at the implicit rate of interest in the lease.
The future minimum debt reductions under capitalized leases consist of the following at September 30,
2010:
Governmental Business-type
Activities Activities
Fiscal year ending September 30:
2011 $ 17,520 $ 50,000
2012 2,920 50,000
2013 - 50,000
2014 - 50,000
2015 - 50,000
2016-2020 - 250,000
2021-2024 - 167,270
Total minimum payments 20,440 667,270
Less Amounts representing interest (700) -
Present value of net minimum lease payments $ 19,740 $ 667,270
Leased property which has been capitalized as of September 30, 2010 is as follows:
F-24
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 11 — LEASE OBLIGATIONS —(Continued)
Governmental Business-type
Activities Activities
Equipment $ 210,367 $ 2,335,830
Less Accumulated Depreciation (78,871) 2,335,830
$ 131,496 $ -
The County leases office space and equipment under operating lease agreements. Total lease
payments made in 2010 were $6,276,505. The following is a schedule by years of future minimum
rentals under non-cancelable operating leases as of September 30, 2010:
Fiscal year ending September 30:
2011 $ 5,370,538
2012 5,044,282
2013 4,902,342
2014 4,322,076
2015 1,039,440
Thereafter 547,395
Total $ 21,226,073
NOTE 12 - LONG-TERM DEBT
Long-term debt activity for the year ended September 30, 2010 is as follows:
Current
Portion of
Beginning Ending Long-term
Balances Additions Payments Balances Liabilities
Governmental Activities:
Revenue bonds payable $42,116,773 $ - $ 4,031,091 $38,085,682 $4,176,091
Revenue notes payable 21,000,000 14,494,806 21,525,241 13,969,565 479,086
Accrued comp. absences 7,585,585 2,763,908 2,305,313 8,044,180 711,624
OPEB Liability 9,037,836 8,991,000 2,964,962 15,063,874 -
Capitalized lease obligations 40,162 - 20,422 19,740 16,840
Total Governmental Activities $79,780,356 $26,249,714 $30,847,029 $75,183,041 $5,383,641
F-25
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 12 - LONG-TERM DEBT—(Continued)
Current
Portion of
Beginning Ending Long-term
Balances Additions Payments Balances Liabilities
Business-type Activities:
Revenue bonds payable $17,210,000 $ - $ 5,670,000 $11,540,000 $ 460,000
Revenue note payable 1,512,156 - 479,791 1,032,365 496,867
Arbitrage payable 296,644 - 61,828 234,816 -
Landfill closure costs 408,441 4,084 - 412,525 -
Accrued comp. absences 491,006 254,437 318,719 426,724 14,816
OPEB Liability 469,428 555,000 183,022 841,406 -
Capitalized lease obligations 717,270 - 50,000 667,270 50,000
Total Business-type Activities $21,104,945 $ 813,521 $ 6,763,360 $15,155,106 $1,021,683
Total Long-Term Debt $100,885,301 $27,063,235 $37,610,389 $90,338,147 $6,405,324
Internal service fund long-term debt information is included in the governmental activities on the
government-wide financial statements, because the internal service funds predominately serve those
activities.
The following is a summary of the Board's bonds and notes as of September 30, 2010:
Governmental Activities
Revenue Bonds:
Infrastructure Sales Surtax Revenue Bonds, Series 2003 $ 12,970,000
Infrastructure Sales Surtax Revenue Bonds, Series 2007 24,320,000
Unamortized Original Issue Premium, Series 2007 795,682
Total Revenue Bonds 38,085,682
Revenue Note:
Clean Water State Revolving Fund Construction Loan Agreement 13,969,565
Total Government Activities 52,055,247
Debt Service Funds Available to Pay Current Maturities (2,035,000)
Unamortized Original Issue Premium, Series 2007 (795,682)
Governmental Activities Principal Funding Requirements $ 49,224,565
F-26
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 12 - LONG-TERM DEBT— (Continued)
Business-type Activities
Revenue Bonds:
Key West International Airport Revenue Bonds, Series 2006 $ 11,540,000
Revenue Note:
Solid Waste Disposal System Refunding Revenue Note, Series 2002 1,053,339
Less Unamortized Loss on Refunding (20,974)
1,032,365
Total Business-Type Activities 12,572,365
Debt Service Funds Available to Pay Current Maturities and
Early Retirements (977,841)
Unamortized Loss on Refunding 20,974
Business-Type Activities Principal Funding Requirements $ 11,615,498
Debt Service Funding Requirements - The total annual debt service requirements for bonds and notes
outstanding at September 30, 2010 are as follows:
Governmental Activities Business-type Activities
Principal Interest Total Principal Interest Total
2011 $ 2,999,664 $ 1,812,760 $4,812,424 $ 2,780,498 $ 18,261 $ 2,798,759
2012 5,210,984 1,630,169 6,841,153 410,000 - 410,000
2013 5,398,021 1,439,228 6,837,249 450,000 428,207 878,207
2014 5,595,797 1,239,766 6,835,563 450,000 438,625 888,625
2015 5,799,330 1,031,351 6,830,681 450,000 413,875 863,875
2016-2020 21,172,649 1,927,191 23,099,840 2,745,000 1,663,200 4,408,200
2021-2025 3,048,120 120,383 3,168,503 3,825,000 798,600 4,623,600
2026 - - - 505,000 27,775 532,775
Total $49,224,565 $ 9,200,848 $58,425,413 $11,615,498 $ 3,788,543 $15,404,041
At September 30, 2010, the current portion of the unamortized loss on refunding is $20,974.
Long-Term Debt at September 30, 2010 is composed of the following issues:
$21,455,000 Infrastructure Sales Surtax Revenue Bonds, Series 2003
Type: General Government Revenue Bonds Dated: March 2003
Final maturity: Year 2018 Principal payment date: April 1
Interest payment dates: April 1 and October I Interest rates: 3.25%to 4.0%
Amount outstanding at September 30th: $12,970,000
Reserve requirement: None; MBIA insured.
F-27
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 12 - LONG-TERM DEBT—(Continued)
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 $15,061,281, For the fiscal
year, principal and interest paid was $1,831,708 and total pledged revenue was $14,085,030.
Purpose: To construct and acquire equipment and capital improvements.
Call provisions: First redemption date may not be later than 4/20/13 and no call premium may exceed
2% of the par amount redeemed.
$29,415,000 Infrastructure Sales Surtax Revenue Bonds, Series 2007
Type: General Government Revenue Bonds Dated: November 2007
Final maturity: Year 2018 Principal payment date: April 1
Interest payment dates: April 1 and October 1 Interest rates: 4.0% to 5.0%
Amount outstanding at September 30th: $24,320,000
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 $28,863,150. For the fiscal
year, principal and interest paid was $3,682,000 and total pledged revenue was $14,085,030.
Purpose: To construct and acquire equipment and capital improvements.
Call provisions: None
$14,494,806 Clean Water State Revolving Fund Construction Loan Agreement
Type: General Government Revenue Notes
Dated: April 2010
Final maturity: Year 2023
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: $13,969,565
Reserve requirement: None
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$16,535,982. For the fiscal
year, principal and interest paid was $668,374 and total pledged revenue was $14,085,030.
Purpose: Refund temporary financing for wastewater capital improvements.
Call provisions: None
$30,455,000 Key West International Airport Revenue Bonds
Type: Enterprise Revenue Bond Dated: July 2006
Final maturity: Year 2026 Principal payment date: October 1
Interest payment dates: Monthly Interest rates: variable, maximum
Amount outstanding at September 30th: $11,540,000 of 5.5%
Reserve requirement: $2,759,567
Revenue Pledged: (1) Net Revenues (as defined in the Resolution) to be derived from the operation
of the airport, (2) Other Available Moneys (as defined in the Resolution), (3) Hedge Receipts and
(4) (until applied in accordance with the provisions of the Resolution) all moneys, including
F-28
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 12 - LONG-TERM DEBT—(Continued)
investments thereof, in certain funds and accounts established under the Resolution, and (5)the
Reserve Account. The total principal and interest remaining to be paid is $15,310,282. For the
fiscal year, principal of$5,670,000 was funded by pledged revenues of$7,811,087 and interest of
$46,497 was funded by capitalized interest secured when the bonds were issued.
Purpose: Acquire, construct and equip various capital improvements at the Key West International
Airport
Call provisions: (1) Optional Redemption at par on any date (2) Mandatory redemption at par at the
option of the Bank upon the event of default under the Reimbursement Agreement or with respect
to Bank Bonds. At least 15 days notice of mandatory tender of Series 2006 Bonds for purchase; at
least 30 days notice of redemption.
$4,143,945 Solid Waste Disposal System Refunding Revenue Note, Series 2002
Type: Enterprise Revenue Note
Dated: December 2002
Final maturity: Year 2012
Principal payment date: October 1
Interest payment dates: April 1 and October 1
Interest rates: 3.41%
Amount outstanding at September 30th: $1,053,339
Reserve requirement: None.
Revenue pledged: Gross revenues from the solid waste disposal, collection and management
systems. The total principal and interest remaining to be paid is $1,089,560. For the fiscal year,
principal and interest paid was $545,223 and total pledged revenue was $17,699,427.
Purpose: To refund on a current basis the Monroe County Municipal Service District Refunding
Improvement Bonds, Series 1991.
Call provisions: No prepayment penalty. Bank requires 10 days notice.
NOTE 13 - DEFEASANCE OF DEBT
In prior years, the County defeased revenue bonds by placing the proceeds of new bonds with an
escrow agent in irrevocable trust accounts to provide for all future debt service payments on the old
bonds. Accordingly, the trust account assets and liabilities for the defeased bonds are not included in
the County's financial statements.
The following schedule reflects outstanding principal on refunded bonds, by issue, as of September 30,
2010:
Governmental Activities:
$5,000,000 Improvement Revenue Bonds, Series 1988; defeased on May 1, 1993
using proceeds from the Refunding Revenue Bonds, Series 1993/88 $ 190,000
Business-type Activities:
$8,000,000 Municipal Service District Improvement Revenue Bonds, Series 1980;
defeased on December 6, 1985 using proceeds from the $9,211,774 Municipal
Service District Refunding Improvement Bonds, Series 1985 $ 5,370,000
F-29
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 13 - DEFEASANCE OF DEBT - (Continued)
$9,211,774 Municipal Service District Refunding Improvement Bonds, Series 1985;
defeased on April 1, 1991 using proceeds from the Municipal Service District
Refunding Improvement Bonds, Series 1991 3,955,000
Total Business—type Activities $ 9,325,000
NOTE 14—CONDUIT DEBT
IDA Health Care Facilities Revenue Bonds, Series 2003 - The Monroe County Industrial Development
Authority approved the issuance of IDA Health Care Facilities Revenue Bonds, Series 2003, not to
exceed $2,500,000 and for a loan by the Authority to the Guidance Clinic of the Middles Keys, Inc. to
provide for the refinancing of certain outstanding indebtedness of the corporation and for financing
certain capital improvements to the corporation's health care facilities. Ownership of the acquired
facilities is in the name of the private entity served by the bond issuance. Neither the County, the
Authority, the State, nor any political subdivision thereof is obligated in any manner for the repayment of
the bonds. Accordingly, the bonds are not reported as liabilities in the accompanying financial
statements. Maturity of the Series 2003 Bonds is August 1, 2018.
Industrial Development Bonds (North Key Largo Utility Corp. System), Series 2005 — The Monroe
County Industrial Development Authority issued Industrial Development Revenue Bonds (North Key
Largo Utility Corporation System), Series 2005 totaling $2,965,000 on September 1, 2005 for the
exchange of a like principal of the $3,400,000 of Industrial Development Revenue Bonds issued in
1995 related to the North Key Largo Utility Corporation Project. Neither the County, the Authority, the
State, nor any political subdivision thereof is obligated in any manner for the repayment of the bonds.
Accordingly, the bonds are not reported as liabilities in the accompanying financial statements. Maturity
of the Series 2005 Bonds is March 1, 2025.
City of South Miami Health Facilities Authority Hospital Revenue Bonds, Series 2007 - On April 18,
2007, the Board approved an interlocal agreement with the City of South Miami Health Facilities
Authority for the issuance of $800,000,000 of tax-free bonds for Mariner's Hospital (Baptist Health
South)for the purpose of financing capital improvements to health care facilities and refund outstanding
bonds. The facilities will be owned by the issuers of the bonds and the Board is not obligated in any
way for the repayment of the bonds. Monroe County was part of a group consisting of the State of
Florida and other units of local government that participated to establish the tax-free status of the
bonds. Accordingly, the bonds are not reported as liabilities in the accompanying financial statements.
Maturity of the Series 2007 Bonds is August 15, 2042.
NOTE 15— RECOGNITION OF CLOSURE AND POST CLOSURE COST
As described in Note 1, current regulations of the U.S. Environmental Protection Agency (EPA) and the
Florida Department of Environmental Protection (FDEP) require municipal solid waste landfills to place
a final cover on closed landfill areas, and to maintain those areas for up to 30 years after closure. The
County obtains updated and revised estimates of total future closure and post closure costs from its
engineers.
F-30
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 15— RECOGNITION OF CLOSURE AND POST CLOSURE COST—(Continued)
All amounts recognized are based upon what it would cost to perform closure and post closure
functions in current dollars. Actual costs may be different due to inflation, changes in technology, or
changes in laws and regulations.
Recognition of the liability for closure and post closure costs is based on the landfill capacity used to
date. The landfill capacity of the County's previously operated landfills is 100% used and has no
remaining landfill life. Closure of these landfills was substantially completed during the year ended
September 30, 1994. The County has another landfill site, which has never been used. Accordingly, no
future closure cost is accruable except for post closure costs estimated to be incurred in the coming
year. At September 30, 2010, the estimated future cost for post closure maintenance was $412,525.
The current portion of the post closure maintenance liability is expected to be insignificant and will be
funded by the County's operations budget. Accordingly, the entire post closure maintenance liability is
classified as long-term.
For the public landfill, accounted for in the Municipal Service District-Waste enterprise fund, expenses
associated with the final closure and post closure maintenance of landfill areas are recognized over the
active life of those areas. These costs are recognized in each operating period based on the amount of
waste received during that period, regardless of when cash disbursements are made for these costs.
The cumulative effect of updated and revised estimates of closure-related costs is recognized in the
period of the change to the extent it relates to current and past operations.
The Florida Department of Environmental Protection approved a post closure operating plan, which
permits the County to fund closure, and post closure costs as an operating expense using annual
appropriations.
The landfill is required by state and federal laws and regulations to make annual contributions to a cash
escrow account to meet financial assurance requirements. In accordance with laws and regulations, the
landfill had cash and investments of$1,898,628 held for these purposes at September 30, 2010. In the
event closure escrows and interest earnings prove inadequate due to inflation, changes in technology
or additional post closure care requirements, these costs may need to be covered by charges to service
users.
NOTE 16 -INTERFUND BALANCES
Interfund balances at September 30, 2010 are as follows:
Due to General Fund from:
Governmental Grants Fund $ 355,532
HIDTA Grants 99,142
One Cent Infrastructure Surtax Fund 56,387
Card Sound Bridge Fund 577
Marathon Airport 64,942
Nonmajor Governmental Funds 593,215
Total 1,169,795
F-31
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 16 - INTERFUND BALANCES—(Continued)
Due to Fine & Forfeiture Fund from;
General Fund 1,486,681
Due to Governmental Grants Fund from:
General Fund 55,572
Fine & Forfeiture Fund 16,667
Nonmajor Governmental Funds 48,259
Total 120,498
Due to HIDTA Grants Fund from:
General Fund 2,416
Due to Comprehensive Plan Land Authority Fund from:
General Fund 282,731
Due to Nonmajor Governmental Funds from:
General Fund 906,524
Fine & Forfeiture Fund 8,969
One Cent Infrastructure Surtax Fund 1,000,000
Nonmajor Governmental Funds 865,072
Total 2,780,565
Due to Internal Service from:
General Fund 83,186
Due to Municipal Svc District Fund from:
General Fund 6,423
Card Sound Bridge Fund 301
Internal Service Funds 379
Nonmajor Governmental Funds 4,048
Total 11,151
Due to Key West Airport Fund from:
Nonmajor Governmental Funds 40,278
Due to Marathon Airport Fund from:
Key West Airport Fund 132,548
Total Interfund Balances $ 6,109,849
During the course of operations, transactions occur which result in amounts owed to a particular fund
by another fund, other than for goods provided or services rendered. These receivables and payables
are due within a year and are classified as "Due from other funds/Due to other funds" on the
governmental funds balance sheet or proprietary fund statement of net assets. The $1,486,681 due to
the Fine and Forfeiture Fund from the General Fund is the Sheriff's excess fees and the$1,000,000
F-32
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 16 - INTERFUND BALANCES —(Continued)
due to Nonmajor Governmental Funds from the One Cent Infrastructure Surtax Fund is for a budgeted
transfer to the Duck Key Wastewater Project Fund,
NOTE 17 - INTERFUND TRANSFERS
Interfund transfers at September 30, 2010 are as follows:
Transfers to General Fund from:
Fine & Forfeiture Fund $ 36,715,113
One Cent Infrastructure Surtax Fund 186,009
Municipal Svc District Waste Fund 187,303
Card Sound Road Fund 121,362
Marathon Airport Fund 64,942
Internal Service Funds 632,937
Nonmajor Governmental Funds 8,657,448
Total 46,565,114
Transfers to Fine and Forfeiture Fund from:
General Fund 1,324,874
Nonmajor Governmental Funds 152,175
Total 1,477,049
Transfers to Governmental Grants Funds from:
General Fund 55,572
Fine & Forfeiture Fund 16,667
Nonmajor Governmental Funds 48,260
Total 120,499
Transfers to Comprehensive Plan Land Authority Fund from:
General Fund 15,531
Transfers to One Cent Infrastructure Surtax Fund from:
Governmental Grants Fund 282,184
Transfers to Debt Service Fund from:
One Cent Infrastructure Surtax Fund 6,230,374
Nonmajor Governmental Fund 5,782,892
12,013,266
Transfers to Nonmajor Governmental Funds from:
General Fund 1,289,821
Governmental Grants Fund 1,969,796
One Cent Infrastructure Surtax Fund 1,792,188
Nonmajor Governmental Funds 2,467,928
Total 7,519,733
F-33
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 17 - INTERFUND TRANSFERS—(Continued)
Transfers to Municipal Svc District Waste Fund from:
General Fund 4,013
Transfers to Marathon Airport Fund from:
One Cent Infrastructure Surtax Fund 7,329
Key West Airport Fund 159,664
Total 166,993
Total Interfund Transfers $68,164,382
The major fund, One Cent Infrastructure Surtax, interfund transfers out totaling $8,215,900 are related
to the funding of debt service as well as partial funding for the new Judicial Courthouse and the Duck
Key Wastewater Project which are accounted for in Nonmajor Governmental funds. The $5,782,892
transferred from Nonmajor Governmental funds, specifically the Big Coppitt Wastewater fund, is for the
refunding of the Florida Rural Utility Financing Commission Revenue Notes, Series 2008A. Other
transfers in and out are related to supporting operations and grant match requirements.
NOTE IS - RISK MANAGEMENT
The County is exposed to various risks of loss related to tort; theft of, damage to, and destruction of
assets; errors and omissions; injuries to employees; and natural disasters. During the fiscal years
ended 1976, 1984 and 1988, the County established the Worker's Compensation, Group Insurance,
and Risk Management Funds, respectively, as internal service funds to account for and finance its
uninsured risks of loss. Under these programs, the Worker's Compensation provides $500,000
coverage per claim. 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 $100,000 self-insured
retention, and building property damage is covered for the actual value of the building with a deductible
between $100,000 and $250,000. Deductibles for windstorm and flood vary by location. The County
purchases commercial insurance for claims in excess of coverage provided by the funds and for all
other risks of loss. Settled claims have not exceeded this commercial coverage in any of the past three
years.
All funds of the County participate in the programs and make payments to the Worker's Compensation,
Group Insurance and Risk Management Funds based on estimates of the amounts needed to pay prior
and current year claims. The claims liabilities reported at September 30, 2010 are based on the
requirements of Governmental Accounting Standards Board Statement No. 10, which requires that a
liability for claims be reported if information prior to the issuance of the financial statements indicates
that it is probable that a liability has been incurred at the date of the financial statements and the
amount of the loss can be reasonably estimated.
Changes in the claims liability amounts in fiscal year 2010 and 2009 were:
F-34
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 18 - RISK MANAGEMENT—(Continued)
Worker's Group Risk
Comp. Insurance Mgmt Total
Unpaid claims at Sept. 30, 2008 $ 1,287,983 $ 3,645,062 $ 1,597,490 $ 6,530,535
Incurred claims
(including IBNRs) 2,207,489 14,332,130 (1,303,366) 15,236,253
Claim payments (1,960,825) (13,397,020) (152,739) (15,510,584)
Unpaid claims at Sept. 30, 2009 1,534,647 4,580,172 141,385 6,256,204
Incurred claims
(including IBNRs) 1,745,741 14,156,786 764,209 16,666,736
Claim payments (1,598,593) (14,489,922) (740,159) (16,828,674)
Unpaid claims at Sept. 30, 2010 $ 1,681,795 $ 4,247,036 $ 165,435 $ 6,094,266
NOTE 19 -COMMITMENTS AND CONTINGENCIES
Grant Programs - The County participates in a number of federally assisted grant programs. These
programs are subject to financial and compliance audits by the grantors or their representatives.
Arbitrage Rebate - In accordance with the Tax Reform Act of 1986, any interest earnings on borrowed
construction funds in excess of the interest costs are required to be rebated to the federal government.
As of September 30, 2010, the County has estimated its arbitrage rebate liability to be $234,816 for its
business-type activities.
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.
Letter of Credit — The County has issued $30,455,000 Key West International Revenue Bonds, Series
2006 (the Series 2006 Bonds) for the primary purpose of providing funds necessary to finance the
acquisition, construction and equipping of certain airport facilities. In order to provide security for the
payment when due of the principal and interest on the Series 2006 bonds, the County has requested a
bank to issue its irrevocable direct pay letter of credit naming U.S. Bank National Association, the
bonds' paying agent, as beneficiary. The letter of credit is for an amount sufficient to pay interest at a
maximum interest rate of 12% per annum. The agreement expires on October 15, 2011.
Wastewater Permanent Financing - The County has constructed a wastewater treatment collection
system to service Geiger and Rockland Keys which required the County to fund $21,000,000 of the
costs. The County secured interim financing through the Florida Rural Utility Financing Commission
Revenue Notes. By Resolution 386-2009 adopted October 21, 2009; the County ratified the execution
of a loan agreement on September 8, 2009 which provides permanent financing through the Clean
Water State Revolving Fund Loan program of the Florida Department of Environmental Protection. The
permanent financing provides a maximum of $20,134,400 for the completion of the wastewater project
and the retirement of the outstanding revenue notes. The outstanding revenue notes were retired May
2010 by the application of unused interim financing proceeds, accumulated interest thereon and an
initial draw of $14,494,806 from the permanent financing. The remaining permanent finance proceeds
of$5,639,594 are expected to be drawn March, 2011 to pay the remaining construction costs.
F-35
MONROE COUNTY, FLORIDA
Notes To Financial Statements
For the Year Ended September 30, 2010
NOTE 20 - LITIGATION
The County is a defendant in various lawsuits and is involved in other disputes wherein substantial
amounts are claimed. In the opinion of the County, these suits and claims should not result in
judgments or settlements, which, in aggregate, would have a material adverse effect on the County's
financial condition.
NOTE 21 —SUBSEQUENT EVENTS
Pursuant to the provisions of Monroe County Resolution 238-C, the County redeemed $925,000 of the
Airport Variable Rate Revenue Bonds, Series 2006 maturing in 2028-2027 as described in the table
below.
Funding Source Date Amount
FAA December, 2010 $ 750,000
Passenger Facility Fees December, 2010 74,700
Monroe County December, 2010 5,300
FAA February, 2011 4,136
Passenger Facility Fees February, 2011 90,579
Monroe County February, 2011 285
Total $ 925,000
Pursuant to the provisions of Monroe County Resolution 238-C, the County has scheduled the
redemption of $870,000 of the Airport Variable Rate Revenue Bonds, Series 2006 maturing in 2027-
2026 as described in the table below.
Funding Source Date Amount
Fla. Dept. of Transportation April, 2011 $ 867,697
Monroe County April, 2011 2,303
Total $ 870,000
The Solid Waste Disposal System Refunding Revenue Note, Series 2002 was retired in full January
2011 using operating reserves in the amount of$535,499.
F-36
COMBINING AND INDIVIDUAL
FUND STATEMENTS AND SCHEDULES
NONMAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS
AFFORDABLE HOUSING PROGRAMS
To account for revenues and expenditures of various low income housing programs.
ROAD & BRIDGE
To account for revenues and expenditures of the constitutional gas taxes.
TOURIST DEVELOPMENT DISTRICTS
To account for the local option three-cent bed tax in five districts, all districts two cent, and
administrative and promotional funds for the expenditures of advertising, promotions, and special events
of the County Tourist Development Council.
IMPACT FEES
To account for the revenues and expenditures relating to impact fees collected for roadways, parks and
recreation, libraries, solid waste, police facilities, fire and EMS, and fair share housing.
FIRE AND AMBULANCE DISTRICT#11, LOWER AND MIDDLE KEYS
To account for revenues and expenditures in District#1 for fire and ambulance services.
UPPER KEYS HEALTH CARE SPECIAL TAXING DISTRICT
To account for all transportation and hospitalization costs of Monroe County trauma patients in Dade
County.
UNINCORPORATED AREA SERVICE DISTRICTS
To account for all revenues and expenditures for planning, building and zoning and parks and recreation
services provided only to the unincorporated area of the County.
LOCAL HOUSING ASSISTANCE
The Local Housing Assistance Fund is used to account for the revenues and expenditures for the
administration and implementation of the State Housing Initiatives Partnership Program.
MUNICIPAL POLICING
To account for all revenues and expenditures for local road patrol law enforcement in the City of
Marathon, City of Layton and Islamorada, Village of Islands.
911 ENHANCEMENT FEES
To account for fees levied on each telephone access line in Monroe County for the enhancement of the
911 emergency telephone system.
DUCK KEY SECURITY DISTRICT
To account for the revenues and expenditures in providing security services for the Duck Key District.
BOATING IMPROVEMENT
To account for revenues and expenditures for providing boating-related activities, for removal of vessels
and floating structures deemed a hazard to public safety and health, and for manatee and marine
mammal protection and recovery.
MISCELLANEOUS SPECIAL REVENUE
To account for revenues and expenditures earmarked for specific purposes.
(Continued)
NONMAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS—CONTINUED
ENVIRONMENTAL RESTORATION
To account for all revenue and expenditures for fines/fees collected and earmarked for environmental
protection,
LAW ENFORCEMENT TRUST
To account for the funds used for the purpose of training police officers and supporting personnel in the
prevention, investigation, detection and identification of crime,
COURT FACILITY FEES
To account for revenues collected upon the institution of any civil action, suit or proceeding to be used
exclusively in providing and maintaining existing and future facilities for the use of the Circuit and County
Court systems.
DRUG ABUSE TRUST
To account for assessments collected for drug abuse programs and to disburse assistance grants for
drug abuse treatment and/or educational programs which meet the standards for qualification of such
programs by the Department of Health and Rehabilitative Services.
MARATHON MUNICIPAL SERVICE
To account for the revenues and expenditures for municipal services for Marathon.
WASTEWATER MSTU
To account for the revenues and expenditures for wastewater services for Conch Key, Bay Point, Big
Coppitt, Key Largo, Stock Island, Cudjoe-Sugarloaf, Long Key-Layton and Duck Key.
BUILDING FUND
To account for the revenues and expenditures relating to building permits and for the administration and
enforcement of the building code for the unincorporated area of the County.
SHERIFF'S COMMISSARY
To account for the receipts and disbursements of inmate telephone commissions, canteen revenues and
other inmate programs.
SHERIFF'S IMPACT SUPPORT
To account for the receipts and disbursements relating to the administration of the South Florida Drug &
Money Laundering Task Force.
SHERIFF'S OFF-DUTY
To account for receipts, expenditures and related reimbursements for law enforcement services
provided to other organizations.
SHERIFF'S GRANTS
To account for the revenues and expenditures relating to various grants.
SHERIFF'S TEEN COURT
To account for receipts and disbursements pertaining to a program designed to deter juveniles who are
becoming involved in crime.
(Continued)
NONMAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS•- CONTINUED
SHERIFF'S SOUTH FLORIDA LAW ENFORCEMENT TRUST
To account for the receipts and disbursements pertaining to South Florida Drug & Money Laundering
Task Force.
SHERIFF'S SHARED ASSET FORFEITURE
To account for the accumulation of stipulated transfers from the Federal Forfeiture Fund. Its investment
income is used to fund awards to non-profit organizations, as determined by an advisory board.
SHERIFF'S FEDERAL FORFEITURE
To account for the revenues from the U.S. Departments of Justice and Treasury. Expenditures are
made in accordance with the guidelines issued by these agencies.
SHERIFF'S CONTRACT ADMINISTRATIVE
To account for the receipts of service fees collected for administering HIDTA, South Florida Law
Enforcement Trust Fund, Impact Support and the NHAC Financial Unit. Expenditures relate to the costs
of administering their activities.
SHERIFF'S AIRPORT SERVICES
To account for expenditures related to providing security at airports throughout the county.
SHERIFF'S LAW ENFORCEMENT TRUST
To account for expenditures to non-profit organizations to help deter drug use and juvenile delinquency.
SHERIFF'S STATE FORFEITURE
To account for the proceeds from state forfeitures received primarily from the South Florida Drug and
Money Laundering Task Force.
SHERIFF'S INTER-AGENCY COMMUNICATIONS
To account for revenues and expenditures allocated for radio communications.
SHERIFF'S E911
To account for fees levied on each telephone access line in Monroe County for the enhancement of the
911 emergency telephone systems.
SHERIFF'S TRAUMA STAR
To account for revenues and expenditures related to the Sheriff's operation of the air ambulance
transports.
SHERIFF'S RADIO COMMUNICATIONS
To account for revenues and expenditures related to radio communication functions county-wide to
include the majority of federal, state, and local entities.
CLERK'S RECORDS MODERNIZATION
To account for revenue received through an additional recording fee pursuant to Florida Statute
28.24(15)(d) to be used for equipment, equipment maintenance, training and technical assistance
necessary to modernize the clerk's public records system.
(Continued)
NONMAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS —CONTINUED
CLERK'S COURT RELATED
To account for revenues and expenditures for providing court related services under the direction of the
Clerk of the Circuit Court.
SUPERVISOR'S VOTER EDUCATION & EQUIPMENT
To account for revenue received through grants for the education of voters and the purchase of voter
equipment.
CAPITAL PROJECT FUNDS
CLERK'S REVENUE NOTE
To account for the Clerk's network system from the Florida Local Government Finance Commission
Loan.
INFRASTRUCTURE REVENUE BONDS SERIES 2003
To account for the revenues and expenditures funded by the Infrastructure Revenue Bonds Series 2003
debt issuance.
BIG COPPITT WASTEWATER
To account for the revenues and expenditures of the wastewater infrastructure for Big Coppitt Key.
DUCK KEY WASTEWATER
To account for the revenues and expenditures of the wastewater infrastructure for Duck Key.
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2010
SPECIAL
Tourist Tourist
Affordable Development Development
Housing Road & All Districts Admin & Promo
Programs Bridge Two Cent Two Cent
ASSETS
Cash and Gash Equivalents $ 36,466 $ 143,114 $ 612,351 $ 946,054
Investments 338,072 6,460,797 2,328,771 3,311,857
Accounts Receivable, Net - - - -
Due from Other Funds - - 61,758 127,976
Due from Other Governmental Units - 485,508 - -
MortgageslNotes Receivable - - - -
Allow. for Mortgages/Notes Receivable - - - -
Interest Receivable 1,213 22,829 8,216 11,690
Total Assets $ 375,751 $ 7,112,248 $ 3,011,096 $ 4,397,577
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable $ 4,560 $ 15,927 $ 328,024 $ 525,539
Retainage Payable - - - -
Accrued Wages and Benefits Payable - 81,851 1,077 837
Due to Other Funds - 4,259 4,988 6,695
Due to Other Governmental Units - 8,483 - 70
Other Current Liabilities - 2 - -
Deposits in Escrow - - - -
Deferred Revenues - - - -
Total Liabilities 4,560 110,522 334,089 533,141
Fund Balances:
Reserved for:
Encumbrances - - - -
Unreserved, Designated in
Nonmajor Special Revenue Fund - - - -
Unreserved, Undesignated 371,191 7,001,726 2,677,007 3,864,436
Total Fund Balances 371,191 7,001,726 2,677,007 3,864,436
Total Liabilities and Fund Balances $ 375,751 $ 7,112,248 $ 3,011,096 $ 4,397,577
G-1
REVENUE FUNDS
Tourist Tourist Tourist Tourist Tourist
Development Development Development Development Development Impact Fees,
District#One District#Two District#Three District #Four District#Five Roadways
$ 918,271 $ 77,441 $ 257,928 $ 168,126 $ 141,479 $ 621,292
3,412,306 100,647 885,087 564,637 484,261 5,765,480
80,304 8,150 22,805 18,467 18,651 -
12,076 441 3,143 1,985 1,709 20,348
$ 4,422,957 $ 186,679 $ 1,168,963 $ 753,215 $ 646,100 $ 6,407,120
$ 171,546 $ 8,679 $ 19,070 $ 2,058 $ 37,920 $ -
5,075 2,304 116 116 3,308 -
478 54 126 117 126 -
104,660 28 25,000 - - -
281,759 11,065 44,312 2,291 41,354 -
500,611 - - - - -
3,640,587 175,614 1,124,651 750,924 604,746 6,407,120
4,141,198 175,614 1,124,651 750,924 604,746 6,407,120
$ 4,422,957 $ 186,679 $ 1,168,963 $ 753,215 $ 646,100 $ 6,407,120
(Continued)
G2
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET-CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2010
SPECIAL
Impact Fees,
Parks and Impact Fees, Impact Fees, Impact Fees,
Recreation Libraries Solid Waste Police Facilities
ASSETS
Cash and Cash Equivalents $ 42,594 $ 76,564 $ 3,531 $ 7,641
Investments 403,248 709,590 33,008 71,40
Accounts Receivable, Net - - - -
Due from Other Funds - - - -
Due from Other Governmental Units - 3,677 - -
Mortgages/Notes Receivable - - - -
Allow. for Mortgages/Notes Receivable - - - -
Interest Receivable 1,434 2,481 110 276
Total Assets $ 447,276 $ 792,312 $ 36,649 $ 79,320
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable $ 8,800 $ 4,400 $ - $ -
Retainage Payable - - - -
Accrued Wages and Benefits Payable - - - -
Due to Other Funds - - - -
Due to Other Governmental Units - - - -
Other Current Liabilities - - - -
Deposits in Escrow - - - -
Deferred Revenues - - - -
Total Liabilities 8,800 4,400 - -
Fund Balances:
Reserved for:
Encumbrances - - - -
Unreserved, Designated in
Nonmajor Special Revenue Fund - - - -
Unreserved, Undesignated 438,476 787,912 36,649 79,320
Total Fund Balances 438,476 787,912 36,649 79,320
Total Liabilities and Fund Balances $ 447,276 $ 792,312 $ 36,649 $ 79,320
G-3
REVENUE FUNDS
Fire &Amb Upper Keys Unincorp. Unincorp.
Impact Fees, District#1, Health Care Area Service Area Service
Impact Fees, Employee Fair Lower and Special District, Dist-Planning
Fire & EMS Share Housing Middle Keys Taxing District Parks & Rec. Bldg. &Zoning
$ 22,742 $ 37,913 $ 547,181 $ 136,375 $ 30,042 204,707
211,701 352,190 3,251,606 1,397,490 1,406,105 4,540,720
- - 254,507 - - 1,125
129,054 - - 34,419
13,264 - 946 353,942
772 1,268 15,385 4,963 5,183 19,245
$ 235,215 $ 391,371 $ 4,210,997 $ 1,538,828 $ 1,442,276 $ 5,154,158
$ - $ - $ 110,284 $ 26,245 $ 101,287 $ 149,233
- 319,776 2,936 25,024 183,246
27,666 - - 20,447
710 - 9,084 70
462 - - -
- - 1,927 164,506 - - -
623,404 29,181 137,322 352,996
- - - 79,378
235,215 391,371 3,587,593 1,509,647 1,304,954 4,721,784
235,215 391,371 3,587,593 1,509,647 1,304,954 4,801,162
$ 235,215 $ 391,371 $ 4,210,997 $ 1,538,828 $ 1,442,276 $ 5,154,158
(Continued)
G-4
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET- CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2010
SPECIAL
Local 911 Duck Key
Housing Municipal Enhancement Security
Assistance Policing Fees District
ASSETS
Cash and Cash Equivalents $ 73,158 $ 153,562 $ 4,363 $ 33,294
Investments 697,495 1,632,633 42,605 310,876
Accounts Receivable, Net - - - -
Due from Other Funds - 187,124 - 502
Due from Other Governmental Units - 3,000 42,932 7
Mortgages/Notes Receivable 9,066,297 - - -
Allow. for Mortgages/Notes Receivable (9,066,297) - - -
Interest Receivable 2,481 5,790 165 1,103
Total Assets $ 773,134 $ 1,982,109 $ 90,065 $ 345,782
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable $ 28,756 $ - $ - $ 3,840
Retainage Payable - - - -
Accrued Wages and Benefits Payable - - - -
Due to Other Funds - 99 90,018 -
Due to Other Governmental Units - - - -
Other Current Liabilities - - - -
Deposits in Escrow - - - -
Deferred Revenues - - - -
Total Liabilities 28,756 99 90,018 3,840
Fund Balances:
Reserved for:
Encumbrances - - - -
Unreserved, Designated in
Nonmajor Special Revenue Fund - - - -
Unreserved, Undesignated 744,378 1,982,010 47 341,942
Total Fund Balances 744,378 1,982,010 47 341,942
Total Liabilities and Fund Balances $ 773,134 $ 1,982,109 $ 90,065 $ 345,782
G-5
REVENUE FUNDS
Miscellaneous Law Court Drug
Boating Special Environmental Enforcement Facility Abuse
Improvement Revenue Restoration Trust Fees Trust
$ 228,892 $ 235,259 $ 128,379 $ 58,539 $ 228,358 $ 14,673
1,743,601 1,701,341 1,192,033 542,026 1,621,686 120,552
- - 40,526 - -
6,176 6,011 4,191 1,931 5,735 441
$ 1,978,669 $ 1,942,611 $ 1,324,603 $ 643,022 $ 1,855,779 $ 135,666
$ 33,740 $ 24,508 $ 312 $ - $ - $ 3,038
- 2,960 - 2,782 -
47,026 203 - - -
7,927 130 - - -
- 30,271 - - - -
33,740 109,732 3,605 - 2,782 3,038
4,748 - - - - -
1,940,181 1,832,879 1,320,998 643,022 1,852,997 132,628
1,944,929 1,832,879 1,320,998 643,022 1,852,997 132,628
$ 1,978,669 $ 1,942,611 $ 1,324,603 $ 643,022 $ 1,855,779 $ 135,666
(Continued)
G-6
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET-CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2010
SPECIAL
Marathon Bay Point Big Coppitt Key Largo
Municipal Wastewater Wastewater Wastewater
Service MSTU MSTU MSTU
ASSETS
Cash and Cash Equivalents $ 8,739 $ 10,085 $ 9,344 $ 5,022
Investments 16,670 93,503 81,621 28,874
Accounts Receivable, Net - - - -
Due from Other Funds 100 - - 21
Due from Other Governmental Units - - - 1,098
Mortgages/Notes Receivable - - - -
Allow. for Mortgages/Notes Receivable - - - -
Interest Receivable 55 331 276 110
Total Assets $ 25,564 $ 103,919 $ 91,241 $ 35,125
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable $ - $ - $ 6,540 $ 2,250
Retainage Payable - - - -
Accrued Wages and Benefits Payable - - 5,895 544
Due to Other Funds 200 - - 33
Due to Other Governmental Units - - - -
Other Current Liabilities - _
Deposits in Escrow - - - -
Deferred Revenues - - - -
Total Liabilities 200 - 12,435 2,827
Fund Balances:
Reserved for:
Encumbrances - - - -
Unreserved, Designated in
Nonmajor Special Revenue Fund - - - -
Unreserved, Undesignated 25,364 103,919 78,806 32,298
Total Fund Balances 25,364 103,919 78,806 32,298
Total Liabilities and Fund Balances $ 25,564 $ 103,919 $ 91,241 $ 35,125
G-7
REVENUE FUNDS
Cudjoe- Long Key,
Stock Island Sugarloaf Conch Key Layton Duck Key Building
Wastewater MSTU MSTU MSTU MSTU Fund
$ 46,722 $ 22,217 $ 418 $ 2,723 $ 6,126 $ 85,628
434,468 204,994 3,888 25,426 55,218 1,070,510
502 9 - - 12 -
4 - - - - -
1,544 717 16 110 220 4,853
$ 483,240 $ 227,937 $ 4,322 $ 28,259 $ 61,576 $ 1,160,991
$ 587 $ - $ - $ - $ 998 $ 4,225
- 1,407 - 62 866 90,389
607 - - - -
- - - - - 1,071
- - - - - 8,350
587 2,014 - 62 1,864 104,035
- - - - - 5,668
482,653 225,923 4,322 28,197 59,712 1,051,288
482,653 225,923 4,322 28,197 59,712 1,056,956
$ 483,240 $ 227,937 $ 4,322 $ 28,259 $ 61,576 $ 1,160,991
(Continued)
G-8
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET-CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2010
SPECIAL
Sheriffs
Sheriffs Impact Sheriffs Sheriffs
Commissary Support Off-Duty Grants
ASSETS
Cash and Cash Equivalents $ 257,931 $ - $ - $ -
Investments - - - -
Accounts Receivable, Net 34,572 - 1,587 -
Due from Other Funds - 47,557 577 361,689
Due from Other Governmental Units 12,543 - 44,330 51,626
Mortgages/Notes Receivable - - - -
Allow. for Mortgages/Notes Receivable - - - -
Interest Receivable - - - -
Total Assets $ 305,046 $ 47,557 $ 46,494 $ 413,315
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable $ 42,937 $ - $ - $ -
Retainage Payable - - - -
Accrued Wages and Benefits Payable - - - -
Due to Other Funds 17,354 1,582 46,494 413,315
Due to Other Governmental Units 8,174 - - -
Other Current Liabilities - - - -
Deposits in Escrow - - - -
Deferred Revenues - 45,975 - -
Total Liabilities 68,465 47,557 46,494 413,315
Fund Balances:
Reserved for:
Encumbrances - - - -
Unreserved, Designated in
Nonmajor Special Revenue Fund - - - -
Unreserved, Undesignated 236,581 - - -
Total Fund Balances 236,581 - - -
Total Liabilities and Fund Balances $ 305,046 $ 47,557 $ 46,494 $ 413,315
G-9
Sheriffs Sheriffs
South Florida Shared Sheriffs Sheriffs
Sheriffs Law Enforce- Asset Federal Contract
Teen Court ment Trust Forfeiture Forfeiture Administrative
$ - $ 698,281 $ 5,078,524 $ 1,076,686 $ -
- - - 1,290
3,559 13,671 - - 338,845
5,839 - - - 55,205
$ 9,398 $ 711,952 $ 5,078,524 $ 1,076,686 $ 395,340
$ - $ 20,400 $ 64,760 $ - $ -
- - 16,685 1,290
4,077 - - -
24,477 64,760 16,685 1,290
9,398 687,475 5,013,764 1,060,001 394,050
9,398 687,475 5,013,764 1,060,001 394,050
$ 9,398 $ 711,952 $ 5,078,524 $ 1,076,686 $ 395,340
{Continued}
G-10
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET- CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2010
SPECIAL
Sheriffs Sheriffs Sheriffs Sheriffs
Airport Law Enforce- State Interagency
Services ment Trust Forfeiture Communications
ASSETS
Cash and Cash Equivalents $ - $ 14,985 $ 38,046 $ 1,173,226
Investments - - - -
Accounts Receivable, Net - - - 55,622
Due from Other Funds 68,222 - 82 13,083
Due from Other Governmental Units - - - 7,306
Mortgages/Notes Receivable - - - -
Allow. for Mortgages/Notes Receivable - - - -
Interest Receivable - - - -
Total Assets $ 68,222 $ 14,985 $ 38,128 $ 1,249,237
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable $ - $ 2,062 $ 443 $ -
Retainage Payable - - - -
Accrued Wages and Benefits Payable - - - -
Due to Other Funds 68,222 2,923 37,685 23,906
Due to Other Governmental Units - 10,000 - -
Other Current Liabilities - - - -
Deposits in Escrow - - - -
Deferred Revenues - - - -
Total Liabilities 68,222 14,985 38,128 23,906
Fund Balances:
Reserved for:
Encumbrances - - - -
Unreserved, Designated in
Nonma jor Special Revenue Fund - - - -
Unreserved, Undesignated - - - 1,225,331
Total Fund Balances - - - 1,225,331
Total Liabilities and Fund Balances $ 68,222 $ 14,985 $ 38,128 $ 1,249,237
G-11
REVENUE FUNDS
Sheriffs Sheriffs Clerk's Clerk's Supervisor's
Sheriffs Trauma Radio Records Court Voter Educ. &
E911 Star Communications Modernization Related Equipment
$ 1,649,827 $ 97,117 $ 55,058 $ 952,206 $ 709,062 $ 17,692
90,018 - - - - -
- - - - 28,095 -
$ 1,739,845 $ 97,117 $ 55,058 $ 952,206 $ 737,157 $ 17,692
$ - $ - $ - $ 565 $ 145,048 $ -
18,894 97,117 55,058 - 434,825 -
- - - - 157,284 -
18,894 97,117 55,058 565 737,157 -
11720,951 - - 951,641 - 17,692
1,720,951 - - 951,641 - 17,692
$ 1,739,845 $ 97,117 $ 55,058 $ 952,206 $ 737,157 $ 17,692
(Continued)
G-12
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET- CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2010
CAPITAL
Total Nonmajor Clerk's Infrastructure
Special Revenue Revenue Revenue Bonds
Funds Note Series 2003
ASSETS
Cash and Cash Equivalents $ 18,205,954 $ 9,746 $ 1,290,822
Investments 47,648,996 90,472 -
Accounts Receivable, Net 348,703 - -
Due from Other Funds 1,667,683 - -
Due from Other Governmental Units 1,109,322 - -
Mortgages/Notes Receivable 9,066,297 - -
Allow. for Mortgages/Notes Receivable (9,066,297) - -
Interest Receivable 177,023 331 33,408
Total Assets $ 69,157,681 $ 100,549 $ 1,324,230
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable $ 1,898,581 $ - $ 1,155
Retainage Payable - - 537,201
Accrued Wages and Benefits Payable 730,571 - 191
Due to Other Funds 1,438,492 - -
Due to Other Governmental Units 179,484 - -
Other Current Liabilities 464 - -
Deposits in Escrow 1,927 - -
Deferred Revenues 406,386 - -
Total Liabilities 4,655,905 - 538,547
Fund Balances:
Reserved for:
Encumbrances 89,794 - -
Unreserved, Designated in
Nonmajor Special Revenue Fund 500,611 - -
Unreserved, Undesignated 63,911,371 100,549 785,683
Total Fund Balances 64,501,776 100,549 785,683
Total Liabilities and Fund Balances $ 69,157,681 $ 100,549 $ 1,324,230
G-13
PROJECT FUNDS
Total
Big Coppitt Duck Key Nonmajor
Wastewater Wastewater Governmental
Project Project Funds
$ 424,101 $ 25,314 $ 19,955,937
2,997,988 217,622 50,955,078
- - 348,703
502 1,112,380 2,780,565
65 - 1,109,387
- - 9,066,297
- - (9,066,297)
10,587 772 222,121
$ 3,433,243 $ 1,356,088 $ 75,371,791
$ 213,907 $ 846,841 $ 2,960,484
- - 537,201
- - 730,762
112,380 - 1,550,872
- - 179,484
- - 464
- - 1,927
- - 406,386
326,287 846,841 6,367,580
- 1,389,151 1,478,945
- - 500,611
3,106,956 (879,904) 67,024,655
3,106,956 509,247 69,004,211
$ 3,433,243 $ 1,356,088 $ 75,371,791
G-14
. MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
SPECIAL
Tourist Tourist
Affordable Development Development
Housing Road & All Districts Admin & Promo
Programs Bridge Two Cent Two Cent
Revenues:
Taxes $ - $ 1,952,593 $ 3,199,405 $ 6,629,796
Licenses and Permits - - - -
Intergovernmental - 3,409,310 - 399,930
Charges for Services - 58,385 - -
Fines and Forfeitures - - - -
Investment Income 3,563 58,117 25,825 34,068
Miscellaneous - 49,219 127 205
Total Revenues 3,563 5,527,624 3,225,357 7,063,999
Expenditures:
Current:
General Government - - - -
Public Safety
Physical Environment - - - -
Transportation 3,310,716
Economic Environment 10,000 - 3,270,752 6,471,265
Human Services - - - -
Culture and Recreation - - - -
Court Related - - - -
Capital Projects - - - -
Total Expenditures 10,000 3,310,716 3,270,752 6,471,265
Excess/Deficiency of Revenues
Over/(Under) Expenditures (6,437) 2,216,908 (45,395) 592,734
Other Financing Sources/(Uses):
Transfers from Other Funds - - 61,758 127,976
Transfers to Other Funds - (537,813) (78,845) (84,514)
Total Other Financing Sources/(Uses) - (537,813) (17,087) 43,462
Net Change in Fund Balances (6,437) 1,679,095 (62,482) 636,196
Fund Balances-October 1 377,628 5,322,631 2,739,489 3,228,240
Fund Balances-September 30 $ 371,191 $ 7,001,726 $ 2,677,007 $ 3,864,436
G-15
REVENUE FUNDS
Tourist Tourist Tourist Tourist Tourist
Development Development Development Development Development Impact Fees,
District#One District#Two District#Three District#Four District#Five Roadways
$ 5,678,913 $ 526,890 $ 1,364,777 $ 1,045,438 $ 1,213,183 $ -
- - - - - 72,975
33,163 1,718 9,609 6,342 5,389 60,818
5,712,076 528,608 1,374,386 1,051,780 1,218,572 133,793
4,868,369 576,832 1,373,343 1,107,551 1,276,588 -
4,868,369 576,832 1,373,343 1,107,551 1,276,588 -
843,707 (48,224) 1,043 (55,771) (58,0161 133,793
80,304 8,150 22,805 18,467 18,650 -
(51,125) (21,506) (11,964) (13,704) (31,623) -
29,179 (13,356) 10,841 4,763 (12,973) -
872,886 (61,580) 11,884 (51,008) (70,989) 133,793
3,268,312 237,194 1,112,767 801,932 675,735 6,273,327
$ 4,141,198 $ 175,614 $ 1,124,651 $ 750,924 $ 604,746 $ 6,407,120
(Continued)
G-16
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES-CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
SPECIAL
Impact Fees,
Parks and Impact Fees, Impact Fees, Impact Fees,
Recreation Libraries Solid Waste Police Facilities
Revenues:
Taxes $ - $ - $ - $ -
Licenses and Permits 32,640 98,749 6,342 14,773
1 ntergovernmental - - - -
Charges for Services - - - -
Fines and Forfeitures - - - -
Investment Income 4,332 7,914 346 707
Miscellaneous - - - -
Total Revenues 36,972 106,663 6,688 15,480
Expenditures:
Current:
General Government - - - -
Public Safety - - - -
Physical Environment - - - -
Transportation - - - -
Economic Environment - - - -
Human Services - - - -
Culture and Recreation 8,800 128,703 - -
Court Related - - - -
Capital Projects - - - -
Total Expenditures 8,800 128,703 - -
Excess/Deficiency of Revenues
Over/(Under) Expenditures 28,172 (22,040) 6,688 15,480
Other Financing Sources/(Uses):
Transfers from Other Funds - - - -
Transfers to Other Funds - - - -
Total Other Financing Sources/(Uses) - - - -
Net Change in Fund Balances 28,172 (22,040) 6,688 15,480
Fund Balances-October 1 410,304 809,952 29,961 63,840
Fund Balances-September 30 $ 438,476 $ 787,912 $ 36,649 $ 79,320
G-17
REVENUE FUNDS
Fire &Amb Upper Keys Unincorp. Unincorp.
Impact Fees, District#1, Health Care Area Service Area Service
Impact Fees, Employee Fair Lower and Special District, Dist-Planning
Fire & EMS Share Housing Middle Keys Taxing District Parks & Rec. Bldg. &Zoning
$ - $ - $ 9,117,935 $ - $ 1,540,295 $ 1,588,017
10,314 5,662 - - - -
- - 62,561 - 2,145 3,947,968
510,318 - 35,522 643,063
- - - - - 279,977
2,218 3,767 60,570 15,149 17,537 56,135
- - 2,628 - 26,262 2,430
12,532 9,429 9,754,012 15,149 1,621,761 6,517,590
- - 156,152 - - 2,589,628
- 9,286,804 - - 2,166,360
6,388 - - 389,982
130,963 - -
- 1,393,282 -
- - 9,449,344 130,963 1,393,282 5,145,970
12,532 9,429 304,668 (115,814) 228,479 1,371,620
- - 597,324 - - 34,418
- (1,236,656) (14,779) (183,953) (1,368,041)
- - (639,332) (14,779) (183,953) (1,333,623)
12,532 9,429 (334,664) (130,593) 44,526 37,997
222,683 381,942 3,922,257 1,640,240 1,260,428 4,763,165
$ 235,215 $ 391,371 $ 3,587,593 $ 1,509,647 $ 1,304,954 $ 4,801,162
(Continued)
G-18
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES-CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
SPECIAL
Local 911 Duck Key
Housing Municipal Enhancement Security
Assistance Policing Fees District
Revenues:
Taxes $ - $ 3,630,702 $ - $ -
Licenses and Permits - - - 75,325
Intergovernmental 2,141,578 - - -
Charges for Services - 3,086,503 564,955 -
Fines and Forfeitures - - - -
Investment Income 9,952 20,390 1,170 3,345
Miscellaneous 19,687 - - -
Total Revenues 2,171,217 6,737,595 566,125 78,670
Expenditures:
Current:
General Government - 64,537 - -
Public Safety - 741,309 - 48,017
Physical Environment - - - -
Transportation - - -
Economic Environment 2,152,825 - - -
Human Services - - - -
Culture and Recreation - - - -
Court Related - - - -
Capital Projects - - - -
Total Expenditures 2,152,825 805,846 - 48,017
Excess/Deficiency of Revenues
Over/(Under) Expenditures 18,392 5,931,749 566,125 30,653
Other Financing Sources/(Uses):
Transfers from Other Funds - 187,124 - 502
Transfers to Other Funds - (5,958,941) (568,585) (1,024)
Total Other Financing Sources/(Uses) - (5,771,817) (568,585) (522)
Net Change in Fund Balances 18,392 159,932 (2,460) 30,131
Fund Balances-October 1 725,986 1,822,078 2,507 311,811
Fund Balances-September 30 $ 744,378 $ 1,982,010 $ 47 $ 341,942
G-19
REVENUE FUNDS
Miscellaneous Law Court Drug
Boating Special Environmental Enforcement Facility Abuse
Improvement Revenue Restoration Trust Fees Trust
- 34,540 - - - -
649,217 323,325 - - 557,368 13,237
- 282,395 133,368 - - -
17,886 18,882 12,857 6,058 15,603 1,415
1,000 72 - - - -
668,103 659,214 146,225 6,058 572,971 14,652
- 26,042 - - - -
306,309 - 153,612 - - -
187,187 - - - 30,480
- 17,252 - - - -
380,976 - - 90,446 -
306,309 611,457 153,612 - 90,446 30,480
361,794 47,757 (7,387) 6,058 482,525 (15,828)
- - - 37,685 - -
- (214,853) - (84,362) - -
- (214,853) - (46,677) - -
361,794 (167,096) (7,387) (40,619) 482,525 (15,828)
1,583,135 1,999,975 1,328,385 683,641 1,370,472 148,456
$ 1,944,929 $ 1,832,879 $ 1,320,998 $ 643,022 $ 1,852,997 $ 132,628
(Continued)
G-20
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES-CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
SPECIAL
Marathon Bay Point Big Coppitt Key Largo
Municipal Wastewater Wastewater Wastewater
Service MSTU MSTU MSTU
Revenues:
Taxes $ 6,668 $ - $ 2 $ 1,384
Licenses and Permits - - - -
Intergovernmental - - - -
Charges for Services - - - -
Fines and Forfeitures - - - -
Investment Income 495 1,014 1,144 730
Miscellaneous - - - -
Total Revenues 7,163 1,014 1,146 2,114
Expenditures:
Current:
General Government - - - -
Public Safety - - - -
Physical Environment 33,660 - 88,732 11,924
Transportation -
Economic Environment - - - -
Human Services - - - -
Culture and Recreation - - - -
Court Related
Capital Projects - - - -
i Total Expenditures 33,660 - 88,732 11,924
Excess/Deficiency of Revenues
Over/(Under) Expenditures (26,497) 1,014 (87,586) (9,810)
Other Financing Sources/(Uses):
Transfers from Other Funds 100 - - 21
Transfers to Other Funds (200) _ (1,000) (41)
Total Other Financing Sources/(Uses) (100) - (1,000) (20)
Net Change in Fund Balances (26,597) 1,014 (88,586) (9,80)
Fund Balances-October 1 51,961 102,905 167,392 42,128
Fund Balances-September 30 $ 25,364 $ 103,919 $ 78,806 $ 32,298
i
G-21
REVENUE FUNDS
Cudjoe- Long Key,
Stock Island Sugarloaf Conch Key Layton Duck Key Building
Wastewater MSTU MSTU MSTU MSTU Fund
$ 153 $ 31 $ - $ - $ 801 $ -
47,002 - - - - 2,295,814
- - - 4,920
4,528 2,308 1 341 723 14,348
- - - - - 10,050
51,683 2,339 1 341 1,524 2,325,132
- - - - - 2,156,109
7,309 29,213 132 3,618 33,693 -
7,309 29,213 132 3,618 33,693 2,156,109
44,374 (26,874) (131) (3,277) (32,169) 169,023
502 9 - - 12 -
(1,000) (18) - - - (368,870)
(498) (9) - - 12 (368,870)
43,876 (26,883) (131) (3,277) (32,157) (199,847)
438,777 252,806 4,453 31,474 91,869 1,256,803
$ 482,653 $ 225,923 $ 4,322 $ 28,197 $ 59,712 $ 1,056,956
(Continued)
G-22
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES-CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
SPECIAL
Sheriffs Impact Sheriffs Sheriffs
Commissary Support Off-Duty Grants
Revenues:
Taxes $ - $ - $ - $ -
Licenses and Permits - - - -
Intergovernmental - 169,746 199,524 327,274
Charges for Services 361,812 - 31,276 -
Fines and Forfeitures - - - -
Investment Income 879 - - -
Miscellaneous 10,266 - - -
Total Revenues 372,957 169,746 230,800 327,274
Expenditures:
Current:
General Government - - - -
Public Safety 318,427 169,746 230,800 1,028,311
Physical Environment - - - -
Transportation - - - -
Economic Environment - - - -
Human Services - - - -
Culture and Recreation - - - -
Court Related - - - -
Capital Projects - - - -
Total Expenditures 318,427 169,746 230,800 1,028,311
Excess/Deficiency of Revenues
Over/(Under) Expenditures 54,530 - - (701,037)
Other Financing Sources/(Uses):
Transfers from Other Funds 2,999 - - 694,025
Transfers to Other Funds - - - -
Total Other Financing Sources/(Uses) 2,999 - - 694,025
Net Change in Fund Balances 57,529 - - (7,012)
Fund Balances-October 1 179,052 - - 7,012
Fund Balances-September 30 $ 236,581 $
G-23
Sheriff's Sheriffs
South Florida Shared Sheriffs Sheriffs
Sheriffs Law Enforce- Asset Federal Contract
Teen Court ment Trust Forfeiture Forfeiture Administrative
- 120,207 - 36,022 -
70,414 - - - 1,061,958
2,692 226,689 4,209 463
70,414 122,899 226,689 40,231 1,062,421
61,016 165,003 187,870 171,256 934,436
61,016 165,003 187,870 171,256 934,436
9,398 (42,104) 38,819 (131,025) 127,985
9,398 (42,104) 38,819 (131,025) 127,985
- 729,579 4,974,945 1,191,026 266,065
$ 9,398 $ 687,475 $ 5,013,764 $ 1,060,001 $ 394,050
(Continued)
G-24
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES-CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
SPECIAL
Sheriffs Sheriffs Sheriffs Sheriffs
Airport Law Enforce- State Interagency
Services ment Trust Forfeiture Communications
Revenues:
Taxes $ - $ - $ - $ -
Licenses and Permits - - - -
Intergovernmental - - - -
Charges for Services 1,733,777 - - 63,695
Fines and Forfeitures - - 63,857 -
Investment Income - - 229 4,421
Miscellaneous - - 62,277 7,614
Total Revenues 1,733,777 - 126,363 75,730
Expenditures:
Current:
General Government - - - -
Public Safety 1,733,777 64,478 88,678 257,876
Physical Environment - - - -
Transportation - - - -
Economic Environment - - - -
Human Services - - - -
Culture and Recreation - - - -
Court Related - - - -
Capital Projects - - - -
Total Expenditures 1,733,777 64,478 88,678 257,876
Excess/Deficiency of Revenues
Over/(Under) Expenditures - (64,478) 37,685 (182,146)
Other Financing Sources/(Uses):
Transfers from Other Funds - 84,362 - 159,279
Transfers to Other Funds - (19,884) (37,685) -
Total Other Financing Sources/(Uses) - 64,478 (37,685) 159,279
Net Change in Fund Balances - - - (22,867)
Fund Balances-October 1 - - - 1,248,198
Fund Balances-September30 $ - $ - $ - $ 1,225,331
G-25
REVENUE FUNDS
Sheriffs Sheriffs Clerk's Clerk's Supervisor's
Sheriffs Trauma Radio Records Court Voter Educ. &
E911 Star Communications Modernization Related Equipment
- - 3,531,113 -
219,642 - -
- - - 192,810 - -
5,465 - - 7,537 - 11
5,465 - - 419,989 3,531,113 11
236,784 1,164,598 369,309 - - -
157,781 3,623,656 -
236,784 1,164,598 369,309 157,781 3,623,656 -
(231,319) (1,164,598) (369,309) 262,208 (92,543) 11
568,585 1,164,598 369,309 - 527,368 -
- - - - (434,825) -
568,585 1,164,598 369,309 - 92,543 -
337,266 - - 262,208 - 11
1,383,685 - - 689,433 - 17,681
$ 1,720,951 $ - $ - $ 951,641 $ - $ 17,692
(Continued)
G-26
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES-CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
CAPITAL
Total Nonmajor Clerk's Infrastructure
Special Revenue Revenue Revenue Bonds
Funds Note Series 2003
Revenues:
Taxes $ 37,496,983 $ - $ -
Licenses and Permits 2,694,136 - -
Intergovernmental 14,347,378 - -
Charges for Services 9,989,387 - -
Fines and Forfeitures 952,407 - -
Investment Income 793,072 943 3,695
Miscellaneous 191,837 - -
Total Revenues 66,465,200 943 3,695
Expenditures:
Current:
General Government 2,810,317 - -
Public Safety 21,607,006 - -
Physical Environment 1,064,572 - -
Transportation 3,310,716 - -
Economic Environment 21,107,525 - -
Human Services 348,630 - -
Culture and Recreation 1,548,037 - -
Court Related 4,252,859 - -
Capital Projects - - 622,744
Total Expenditures 56,049,662 - 622,744
Excess/Deficiency of Revenues
Over/(Under) Expenditures 10,415,538 943 (619,049)
Other Financing Sources/(Uses):
Transfers from Other Funds 4,766,332 - 292,188
Transfers to Other Funds (11,325,811) - -
Total Other Financing Sources/(Uses) (6,559,479) - 292,188
Net Change in Fund Balances 3,856,059 943 (326,861)
Fund Balances-October 1 60,645,717 99,606 1,112,544
Fund Balances-September 30 $ 64,501,776 $ 100,549 $ 785,683
G-27
PROJECT FUNDS
Total
Big Coppitt Duck Key Nonmajor
Wastewater Wastewater Governmental
Project Project Funds
$ 555 $ - $ 37,497,538
703,231 140,728 3,538,095
- - 14,347,378
9,989,387
- - 952,407
111,626 5,802 915,138
- - 191,837
815,412 146,530 67,431,780
- - 2,810,317
- - 21,607,006
- - 1,064,572
- - 3,310,716
- - 21,107,525
- - 348,630
- - 1,548,037
- - 4,252,859
898,151 1,142,379 2,663,274
898,151 1,142,379 58,712,936
(82,739) (995,849) 8,718,844
961,213 1,500,000 7,519,733
(5,782,892) (17,108,703)
(4,821,679) 1,500,000 (9,588,970)
(4,904,418) 504,151 (870,126)
8,011,374 5,096 69,874,337
3,106,956 $ 509,247 69,004,211
G-28
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
AFFORDABLE HOUSING PROGRAMS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ 10,000 $ 2,500 $ 3,563 $ 1,063
EXPENDITURES:
Current:
Economic Environment:
Affordable Housing Initiatives 252,378 310,000 10,000 300,000
Excess/Deficiency of Revenues
Over/(Under) Expenditures (242,378) (307,500) (6,437) 301,063
Other Financing Sources/(Uses):
Reserve for Contingencies (108,162) (,031) 2,031
Net Change in Fund Balances (350,540) (309,531) (6,437) 303,094
Fund Balances, October 1 350,540 309,531 377,628 68,097
Fund Balances, September 30 $ - $ - $ 371,191 $ 371,191
G-29
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
ROAD AND BRIDGE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Taxes $ 1,038,000 $ 1,038,000 $ 1,952,593 $ 914,593
Intergovernmental 3,200,000 3,200,000 3,409,310 209,310
Charges for Services 4,000 4,000 58,385 54,385
Investment Income 150,000 150,000 58,117 (91,883)
Miscellaneous 56,000 56,000 49,219 (6,781)
Total Revenues 4,448,000 4,448,000 5,527,624 1,079,624
Expenditures:
Transportation:
Road Department 2,448,776 2,448,776 2,438,798 9,978
County Engineer Road and Bridge 352,965 352,965 261,044 91,921
Street Lighting 263,773 263,773 173,068 90,705
Local Option Gas Tax Projects 250,000 397,583 334,190 63,393
80% Gas Tax 230,000 230,000 103,616 126,384
Total Transportation 3,545,514 3,693,097 3,310,716 382,381
Excess/Deficiency of Revenues
Over/(Under) Expenditures 902,486 754,903 2,216,908 1,462,005
Other Financing Sources/(Uses):
Reserve for Contingencies (500,000) (2,835) - 2,835
Reserve for Cash Balance (1,023,941) (1,023,941) - 1,023,941
Transfers to Other Funds (595,728) (945,310) (537,813) 407,497
Total Other Financing Sources/(Uses) (2,119,669) (1,972,086) (537,813) 1,434,273
Net Change in Fund Balances (1,217,183) (1,217,183) 1,679,095 2,896,278
Fund Balances, October 1 1,217,183 1,217,183 5,322,631 4,105,448
Fund Balances, September 30 $ - $ - $ 7,001,726 $ 7,001,726
G-30
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, ALL DISTRICTS, TWO CENT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 3,077,560 $ 3,077,560 $ 3,199,405 $ 121,845
Investment Income - - 25,825 25,825
Miscellaneous - - 127 127
Total Revenues 3,077,560 3,077,560 3,225,357 147,797
EXPENDITURES:
Current:
Economic Environment:
Cultural Umbrella 758,299 758,299 607,935 150,364
Fishing Umbrella 721,550 721,550 639,836 81,714
Dive Umbrella 450,000 450,000 446,958 3,042
Operations - Events 1,547,521 1,540,047 1,229,755 310,292
Catastrophic Emergency 857,834 857,834 - 857,834
Special Projects 696,027 696,027 346,268 349,759
Total Expenditures 5,031,231 5,023,757 3,270,752 1,753,005
Excess/Deficiency of Revenues
Over/(Under) Expenditures (1,9531671) (1,946,197) (45,395) 1,900,802
Other Financing Sources/(Uses):
Transfers from Other Funds - - 61,758 61,758
Transfers to Other Funds (71,371) (78,845) (78,845) -
Total Other Financing Sources/(Uses) (71,371) (78,845) (17,087) 61,758
Net Change in Fund Balances (2,025,042) (2,025,042) (62,482) 1,962,560
Fund Balances, October 1 2,025,042 2,025,042 2,739,489 714,447
Fund Balances, September 30 $ - $ - $ 2,677,007 $ 2,677,007
G-31
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, ADMINISTRATION AND PROMOTIONAL,
TWO CENT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 6,025,400 $ 6,025,400 $ 6,629,796 604,396
Intergovernmental - 400,000 399,930 (70)
Investment Income - - 34,068 34,068
Miscellaneous - - 205 205
Total Revenues 6,025,400 6,425,400 7,063,999 638,599
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion 5,117,288 5,517,288 4,899,299 617,989
Administrative Services 743,213 743,213 700,950 42,263
Catastrophic Emergency 1,715,419 1,715,419 - 1,715,419
Special Projects 974,315 974,315 871,016 103,299
Total Expenditures 8,550,235 8,950,235 6,471,265 2,478,970
Excess/Deficiency of Revenues
Over/(Under) Expenditures (2,524,835) (2,524,835) 592,734 3,117,569
Other Financing Sources/(Uses):
Transfers from Other Funds - - 127,976 127,976
Transfers to Other Funds (128,041) (128,041) (84,514) 43,527
Total Other Financing Sources/(Uses) (128,041) (128,041) 43,462 171,503
Net Change in Fund Balances (2,652,876) (2,652,876) 636,196 3,289,072
Fund Balances, October 1 2,652,876 2,652,876 3,228,240 575,364
Fund Balances, September 30 $ - $ - $ 3,864,436 $ 3,864,436
G-32
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, DISTRICT#ONE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 4,656,540 $ 4,656,540 $ 5,678,913 $ 1,022,373
Investment Income - - 33,163 33,163
Total Revenues 4,656,540 4,656,540 5,712,076 1,055,536
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion 3,033,718 3,033,718 3,027,702 6,016
Administrative Services 156,428 156,428 98,643 57,785
Catastrophic Emergency 126,749 126,749 - 126,749
Special Events 461,097 461,097 286,362 174,735
Bricks and Mortar 2,304,926 2,299,585 1,106,254 1,193,331
Information Services 302,250 302,250 302,250 -
Beaches 484,965 484,965 47,158 437,807
Total Expenditures 6,870,133 6,864,792 4,868,369 1,996,423
Excess/Deficiency of Revenues
Over/(Under) Expenditures (2,213f593) (2,208,252) 843,707 3,051,959
Other Financing Sources/(Uses):
Transfers from Other Funds 80,304 80,304
Transfers to Other Funds (45,784) (51,125) (51,125) -
Total Other Financing Sources/(Uses) (45,784) (51,125) 29,179 80,304
Net Change in Fund Balances (2,259,377) (2,259,377) 872,886 3,132,263
Fund Balances, October 1 2,259,377 2,259,377 3,268,312 1,008,935
Fund Balances, September 30 $ - $ - $ 4,141,198 $ 4,141,198
G-33
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, DISTRICT#TWO SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 505,800 $ 505,800 $ 526,890 $ 21,090
Investment Income - - 1,718 1,718
Total Revenues 505,800 505,800 528,608 22,808
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion 400,758 400,758 398,842 1,916
Administrative Services 16,714 16,714 11,268 5,446
Special Events 21,789 21,789 6,762 15,027
Bricks and Mortar 153,846 152,064 83,960 68,104
Information Services 76,000 76,000 76,000 -
Total Expenditures 669,107 667,325 576,832 90,493
Excess/Deficiency of Revenues
Overt(Under) Expenditures (163,307) (161,525) (48,224) 113,301
Other Financing Sources/(Uses):
Transfers from Other Funds 8,150 8,150
Transfers to Other Funds (19,724) (21,506) (21,506) -
Total Other Financing Sources/(Uses) (19,724) (21,506) (13,356) 8,150
Net Change in Fund Balances (183,031) (183,031) (61,580) 121,451
Fund Balances, October 1 183,031 183,031 237,194 54,163
Fund Balances, September 30 $ - $ - $ 175,614 $ 175,614
G-34
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, DISTRICT#THREE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 1,158,880 $ 1,158,880 $ 1,364,777 $ 205,897
Investment Income - - 9,609 9,609
Total Revenues 1,158,880 1,158,880 1,374,386 215,506
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion 1,046,738 1,067,238 1,040,224 27,014
Administrative Services 41,759 41,759 11,797 29,962
Special Events 125,376 104,876 50,376 54,500
Bricks and Mortar 488,812 488,639 150,946 337,693
Information Services 120,000 120,000 120,000 -
Total Expenditures 1,822,685 1,822,512 1,373,343 449,169
Excess/Deficiency of Revenues
Over/(Under) Expenditures (663,805) (663,632) 1,043 664,675
Other Financing Sources/(Uses):
Transfers from Other Funds - - 22,805 22,805
Transfers to Other Funds (11,791) (11,964) (11,964) -
Total Other Financing Sources/(Uses) (11,791) (11,964) 10,841 22,805
Net Change in Fund Balances (675,596) (675,596) 11,884 687,480
Fund Balances, October 1 675,596 675,596 1,112,767 437,171
Fund Balances, September 30 $ - $ - $ 1,124,651 $ 1,124,651
G-35
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, DISTRICT#FOUR SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 1,130,680 $ 1,130,680 $ 1,045,438 $ (85,242)
Investment Income - - 6,342 6,342
Total Revenues 1,130,680 1,130,680 1,051,780 (78,900)
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion 890,936 890,936 839,769 51,167
Administrative Services 43,897 43,897 17,219 26,678
Special Events 115,676 115,676 82,319 33,357
Bricks and Mortar 364,437 362,363 58,244 304,119
Information Services 110,000 110,000 110,000 -
Total Expenditures 1,524,946 1,522,872 1,107,551 415,321
Excess/Deficiency of Revenues
Over/(Under) Expenditures (394,266) (392,192) (55,771) 336,421
Other Financing Sources/(Uses):
Transfers from Other Funds 18,467 18,467
Transfers to Other Funds (11,630) (13,704) (13,704) -
Total Other Financing Sources/(Uses) (11,630) (13,704) 4,763 18,467
Net Change in Fund Balances (405,896) (405,896) (51,008) 354,888
Fund Balances, October 1 405,896 405,896 801,932 396,036
Fund Balances, September 30 $ - $ - $ 750,924 $ 750,924
G-36
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, DISTRICT#FIVE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 1,223,440 $ 1,223,440 $ 1,213,183 $ (10,257)
Investment Income - - 5,389 5,389
Total Revenues 1,223,440 1,223,440 1,218,572 (4,868)
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion 881,644 881,644 829,544 52,100
Administrative Services 39,286 39,286 14,379 24,907
Information Services 125,000 125,000 125,000 -
Special Events 232,174 232,174 131,045 101,129
Bricks and Mortar 373,023 373,023 176,620 196,403
Total Expenditures 1,651,127 1,651,127 1,276,588 374,539
Excess/Deficiency of Revenues
Over/(Under) Expenditures (4271687) (427,687) (58,016) 369,671
Other Financing Sources/(Uses):
Transfers from Other Funds - 18,650 18,650
Transfers to Other Funds (31,972) (31,972) (31,623) 349
Total Other Financing Sources/(Uses) (31,972)_ (31,972) (12,973) 18,999
Net Change in Fund Balances (459,659) (459,659) (70,989) 388,670
Fund Balances, October 1 459,659 459,659 675,735 216,076
Fund Balances, September 30 $ - $ - $ 604,746 $ 604,746
G-37
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
IMPACT FEES - ROADWAYS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 70,000 $ 70,000 $ 72,975 $ 2,975
Investment Income 101,000 101,000 60,818 (40,182)
Total Revenues 171,000 171,000 133,793 (37,207)
EXPENDITURES:
Current:
Transportation:
Fair Share Improvement County Wide 481,511 481,511 - 481,511
Fair Share Improvement Dist 1 476,366 476,366 - 476,366
Fair Share Improvement Dist 2 656,751 656,751 - 656,751
Fair Share Improvement Dist 3 1,901,298 1,901,298 - 1,901,298
Fair Share Improve Key Colony Beach 37,016 37,016 - 37,016
Truman Bridge Ped Bridge 430,000 430,000 - 430,000
C9051Card Sound Road Intersection 1,800,000 1,800,000 - 1,800,000
Total Expenditures 5,782,942 5,782,942 - 5,782,942
Excess/Deficiency of Revenues
Over/(Under) Expenditures (5,611,942) (5,611,942) 133,793 5,745,735
Net Change in Fund Balances (5,611,942) (5,611,942) 133,793 5,745,735
Fund Balances, October 1 5,611,942 5,611,942 6,273,327 661,385
Fund Balances, September 30 $ - $ - $ 6,407,120 $ 6,407,120
G-38
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
IMPACT FEES - PARKS AND RECREATION SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 21,000 $ 21,000 $ 32,640 $ 11,640
Investment Income 10,000 10,000 4,332 (5,668)
Total Revenues 31,000 31,000 36,972 5,972
EXPENDITURES:
Current:
Culture and Recreation:
District 'I Projects 117,293 47,293 - 47,293
District 2 Projects 255,491 218,491 - 218,491
District 3 Projects 30,997 30,997 - 30,997
Bay Point Park - 50,000 - 50,000
Big Coppitt Park - 20,000 - 20,000
Palm Villa Park - 25,000 - 25,000
Watson Field - 12,000 8,800 3,200
Total Expenditures 403,781 403,781 8,800 394,981
Excess/Deficiency of Revenues
Over/(Under) Expenditures (372,781) (372,781) 28,172 400,953
Net Change in Fund Balances (372,781) (372,781) 28,172 400,953
Fund Balances, October 1 372,781 372,781 410,304 37,523
Fund Balances, September 30 $ - $ - $ 438,476 $ 438,476
G-39
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
IMPACT FEES - LIBRARIES SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 20,000 $ 20,000 $ 98,749 $ 78,749
Investment Income 15,000 15,000 7,914 (7,086)
Total Revenues 35,000 35,000 106,663 71,663
EXPENDITURES:
Current:
Culture and Recreation:
County Wide Library Projects 794,015 619,015 - 619,015
Library Automation - 175,000 128,703 46,297
Total Expenditures 794,015 794,015 128,703 665,312
Excess/Deficiency of Revenues
Over/(Under) Expenditures (7591015) (759,015) (22,040) 736,975
Net Change in Fund Balances (759,015) (759,015) (22,040) 736,975
Fund Balances, October 1 759,015 759,015 809,952 50,937
Fund Balances, September 30 $ - $ - $ 787,912 $ 787,912
G-40
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
IMPACT FEES -SOLID WASTE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 7,000 $ 7,000 $ 6,342 $ (658)
Investment Income 450 450 346 (104)
Total Revenues 7,450 7,450 6,688 (762)
EXPENDITURES:
Current:
Physical Environment:
County Wide Solid Waste Projects 33,049 33,049 - 33,049
Excess/Deficiency of Revenues
Over/(Under) Expenditures (25,599) (25,599) 6,688 32,287
Net Change in Fund Balances (25,599) (25,599) 6,688 32,287
Fund Balances, October 1 25,599 25,599 29,961 4,362
Fund Balances, September 30 $ - $ - $ 36,649 $ 36,649
G-41
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
IMPACT FEES - POLICE FACILITIES SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 12,000 $ 12,000 $ 14,773 $ 2,773
Investment Income 1,000 1,000 707 (293)
Total Revenues 13,000 13,000 15,480 2,480
EXPENDITURES:
Current:
Public Safety:
County Wide Police Facility 66,173 66,173 - 66,173
Excess/Deficiency of Revenues
Over/(Under) Expenditures (53,173) (53,173) 15,480 68,653
Net Change in Fund Balances (53,173) (53,173) 15,480 68,653
Fund Balances, October 1 53,173 53,173 63,840 10,667
Fund Balances, September 30 $ - $ - $ 79,320 $ 79,320
G-42
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
IMPACT FEES - FIRE AND EMS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 10,000 $ 10,000 $ 10,314 $ 314
Investment Income 4,650 4,650 2,218 (2,432)
Total Revenues 14,650 14,650 12,532 (2,118)
EXPENDITURES:
Current:
Public Safety:
District I Fire & EMS Project 70,605 780 - 780
District 2 Fire & EMS Project 5,906 5,906 - 5,906
District 3 Fire & EMS Project 120,734 22,734 - 22,734
Key Colony Beach Fire & EMS 23,838 7,888 - 7,888
District 1 Fire Hydrants - 69,825 - 69,825
District 2 Fire Hydrants 98,000 - 98,000
District 3 Fire Hydrants - 15,950 - 15,950
Total Expenditures 221,083 221,083 - 221,083
Excess/Deficiency of Revenues
Over/(Under) Expenditures (206,433) (206,433) 12,532 218,965
Net Change in Fund Balances (206,433) (206,433) 12,532 218,965
Fund Balances, October 1 206,433 206,433 222,683 16,250
Fund Balances, September 30 $ - $ - $ 235,215 $ 235,215
G-43
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
IMPACT FEES - EMPLOYEE FAIR SHARE HOUSING SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 16,000 $ 16,000 $ 5,662 $ (10,338)
Investment Income 7,600 7,600 3,767 (3,833)
Total Revenues 23,600 23,600 9,429 (14,171)
EXPENDITURES:
Current:
Economic Environment:
District 1 Employee Fair Share Hsg 90,000 90,000 - 90,000
District 3 Employee Fair Share Hsg 120,000 120,000 - 120,000
Total Expenditures 210,000 210,000 - 210,000
Excess/Deficiency of Revenues
Over/(Under) Expenditures (186,400) (186,400) 9,429 195,829
Other Financing Sources/(Uses):
Reserve for Contingencies (78,294) (78,294) - 78,294
Net Change in Fund Balances (264,694) (264,694) 9,429 274,123
Fund Balances, October 1 264,694 264,694 381,942 117,248
Fund Balances, September 30 $ - $ - $ 391,371 $ 391,371
G-44
MONROE COUNTY, FLORIDA
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, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 9,456,898 $ 9,456,898 $ 9,117,935 $ (338,963)
Intergovernmental 35,000 35,000 62,561 27,561
Charges for Services 425,000 425,000 510,318 85,318
Investment Income 80,000 80,000 60,570 (19,430)
Miscellaneous - - 2,628 2,628
Total Revenues 9,996,898 9,996,898 9,754,012 (242,886)
EXPENDITURES:
Current:
General Government:
Property Appraiser 156,152 156,152 156,152 -
Public Safety:
Fire Rescue - Central 3,179,270 3,167,270 2,866,399 300,871
SAFER Program 1,226,903 1,226,903 1,195,115 31,788
Lower& Middle Keys Ambulance Dist 5,495,311 5,408,006 5,225,290 182,716
Total Public Safety 9,901,484 9,802,179 9,286,804 515,375
Physical Environment:
Wastewater Upgrade 11,000 11,000 6,388 4,612
Total Expenditures 10,068,636 9,969,331 9,449,344 519,987
Excess/Deficiency of Revenues
Over/(Under) Expenditures (71,738) 27,567 304,668 277,101
Other Financing Sources/(Uses):
Reserve for Contingencies (297,551) (170,136) - 170,136
Reserve for Cash Balance (2,141,387) (2,141,387) - 2,141,387
Transfers from Other Funds 692,140 755,140 597,324 (157,816)
Transfers to Other Funds (1,126,443) (1,416,163) (1,236,656) 179,507
Total Other Financing Sources/(Uses) (2,873,241) (2,972,546) (639,332) 2,333,214
Net Change in Fund Balances (2,944,979) (2,944,979) (334,664) 2,610,315
Fund Balances, October 1 2,944,979 2,944,979 3,922,257 977,278
Fund Balances, September 30 $ - $ - $ 3,587,593 $ 3,587,593
G-45
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
UPPER KEYS HEALTH CARE SPECIAL TAXING DISTRICT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ 35,000 $ 35,000 $ 15,149 $ (19,851)
Miscellaneous 407,916 - - -
Total Revenues 442,916 35,000 15,149 (19,851)
EXPENDITURES:
Current:
Human Services:
Trauma District Administration 89,304 89,304 80,462 8,842
Trauma Transportation and Treatment 200,000 200,000 50,311 149,689
Trauma Pretransportation 2,000 2,000 190 1,810
Trauma Facility Upgrade 100 100 - 100
Total Expenditures 291,404 291,404 130,963 160,441
Excess/Deficiency of Revenues
Over/(Under) Expenditures 151,512 (256,404) (115,814) 140,590
Other Financing Sources/(Uses):
Reserve for Contingencies (44,290) (56,665) - 56,665
Reserve for Cash Balance (83,921) (83,921) - 83,921
Transfers from Other Funds - 12,375 - (12,375)
Transfers to Other Funds (23,301) (23,301) (14,779) 8,522
Total Other Financing Sources/(Uses) (151,512) (151,512) (14,779) 136,733
Net Change in Fund Balances - (407,916) (130,593) 277,323
Fund Balances, October 1 - 407,916 1,640,240 1,232,324
Fund Balances, September 30 $ - $ - $ 1,509,647 $ 1,509,647
G-46
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
UNINCORPORATED AREA SERVICE DISTRICT -
PARKS AND RECREATION SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 1,600,056 $ 1,600,056 $ 1,540,295 $ (59,761)
Intergovernmental - - 2,145 2,145
Charges for Services 45,000 45,000 35,522 (9,478)
Investment Income 40,000 40,000 17,537 (22,463)
Miscellaneous 20,000 20,000 26,262 6,262
Total Revenues 1,705,056 1,705,056 1,621,761 (83,295)
EXPENDITURES:
Current:
Physical Environment:
Wastewater Upgrade 74,250 74,250 - 74,250
Culture and Recreation:
Parks & Beaches Unincorporated 1,474,135 1,474,135 1,185,969 288,166
Jacob's Aquatic Center 180,000 180,000 180,000 -
School Board Interlocal 32,000 32,000 27,313 4,687
Total Culture and Recreation 1,686,135 1,686,135 1,393,282 292,853
Total Expenditures 1,760,385 1,760,385 1,393,282 367,103
Excess/Deficiency of Revenues
Over/(Under) Expenditures (55,329) (55,329) 228,479 283,808
Other Financing Sources/(Uses):
Reserve for Contingencies (32,292) (31,057) - 31,057
Reserve for Cash Balance (399,089) (399,089) - 399,089
Transfers to Other Funds (202,769� (204,004) (183,953) 20,051
Total Other Financing Sources/(Uses) (634,150) (634,150) (183,953) 450,197
Net Change in Fund Balances (689,479) (689,479) 44,526 734,005
Fund Balances, October 1 689,479 689,479 1,260,428 570,949
Fund Balances, September 30 $ - $ - $ 1,304,954 $ 1,304,954
G-47
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
UNINCORPORATED AREA SERVICE DISTRICT - PLANNING,
BUILDING AND ZONING SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 1,642,626 $ 1,642,626 $ 1,588,017 $ (54,609)
Intergovernmental 3,917,495 3,917,495 3,947,968 30,473
Charges for Services 594,889 594,889 643,063 48,174
Fines and Forfeitures 100,000 100,000 279,977 179,977
Investment Income 100,000 100,000 56,135 (43,865)
Miscellaneous 4,554 4,554 2,430 (2,124)
Total Revenues 6,359,564 6,359,564 6,517,590 158,026
Expenditures:
Current:
General Government:
Tax Collector Fees 967 967 967 -
Property Appraiser Fees 41,277 41,277 41,277 -
Growth Mgmt County Attorney 394,255 419,655 419,593 62
Planning Department 1,040,834 1,040,834 990,168 50,666
2010 Comprehensive Plan 221,000 365,840 380,766 (14,926)
GIS 287,555 287,555 209,676 77,879
Planning Commission 98,142 98,142 80,564 17,578
Growth Mgmt Administration 903,834 725,494 464,891 260,603
Planning and Building Refunds 2,000 2,000 1,726 274
Total General Government 2,989,864 2,981,764 2,589,628 392,136
Public Safety:
Code Enforcement 1,159,509 1,162,009 1,157,050 4,959
Fire & Rescue Coordinator 706,173 706,173 687,314 18,859
Fire Marshall 324,292 330,292 321,996 8,296
Total Public Safety 2,189,974 2,198,474 2,166,360 32,114
Physical Environment:
Pump-Out Vessel 67,443 67,443 60,129 7,314
Environmental Resources 275,222 281,222 280,108 1,114
Marine Resources 52,850 52,850 49,745 3,105
Total Physical Environment 395,515 401,515 389,982 11,533
Total Expenditures 5,575,353 5,581,753 5,145,970 435,783
Excess/Deficiency of Revenues
Over/(Under) Expenditures 784,211 777,811 1,371,620 593,809
(Continued)
G-48
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL -CONTINUED
UNINCORPORATED AREA SERVICE DISTRICT - PLANNING,
BUILDING AND ZONING SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Other Financing Sources/(Uses):
Reserve for Contingencies (40,000) (5,972) - 5,972
Reserve for Cash Balance (1,378,001) (1,378,001) - 1,378,001
Transfers from Other Funds - - 34,418 34,418
Transfers to Other Funds (1,392,649) (1,420,277) (1,368,041) 52,23
Total Other Financing Sources/(Uses) (2,810,650) (2,804,250) (1,333,623) 1,470,627
Net Change in Fund Balances (2,026,439) (2,026,439) 37,997 2,064,436
Fund Balances, October 1 2,026,439 2,026,439 4,763,165 2,736,726
Fund Balances, September 30 $ - $ - $ 4,801,162 $ 4,801,162
G-49
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
LOCAL HOUSING ASSISTANCE
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Intergovernmental $ 2,350,000 2,350,000 $ 2,141,578 $ (208,422)
Investment Income 40,000 40,000 9,952 (30,048)
Miscellaneous 334,443 334,443 19,687 (314,756)
Total Revenues 2,724,443 2,724,443 2,171,217 (553,226)
EXPENDITURES:
Current:
Economic Environment:
KW Impact Fee Provision Funding 2,000,000 2,000,000 2,000,000 -
FL Homebuyer Option Tax Credit 315,000 315,000 41,227 273,773
Homebuyer Assistance 159,831 159,831 - 159,831
Homeowner 09 277,550 277,550 19,688 257,862
SHIP Fair Housing 08 5,000 5,000 - 5,000
SHIP Fair Housing 09 5,000 5,000 - 5,000
SHIP Fair Housing Counsel 5,000 5,000 - 5,000
Administration 08 40,000 40,000 40,000 -
Administration 09 72,711 72,711 51,910 20,801
Administration 10 48,210 48,210 - 48,210
Total Expenditures 2,928,302 2,928,302 2,152,825 775,477
Excess/Deficiency of Revenues
Over/(Under) Expenditures (203,859) (203,859) 18,392 222,251
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 (233,859) (233,859) 18,392 252,251
Fund Balances, October 1 233,859 233,859 725,986 492,127
Fund Balances, September 30 $ - $ - $ 744,378 $ 744,378
G-50
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
MUNICIPAL POLICING SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 3,761,255 $ 3,761,255 $ 3,630,702 $ (130,553)
Charges for Services 3,071,142 3,165,142 3,086,503 (78,639)
Investment Income 50,000 50,000 20,390 (29,610)
Total Revenues 6,882,397 6,976,397 6,737,595 (238,802)
EXPENDITURES:
Current:
General Government:
Tax Collector 2,338 2,338 2,338 -
Property Appraiser 62,199 62,199 62,199 -
Total General Government 64,537 64,537 64,537 -
Public Safety:
Insurance Unincorporated & Layton 414,465 414,465 395,978 18,487
Insurance Islamorada 181,830 181,830 176,212 5,618
Insurance Marathon 164,276 169,119 169,119 -
Total Public Safety 760,571 765,414 741,309 24,105
Total Expenditures 825,108 829,951 805,846 24,105
Excess/Deficiency of Revenues
Overl(Under) Expenditures 6,057,289 6,146,446 5,931,749 (214,697)
Other Financing Sources/(Uses):
Reserve for Contingencies (39,286) (38,590) - 38,590
Reserve for Cash Balance (1,375,861) (1,375,861) - 1,375,861
Transfers from Other Funds 94,000 - 187,124 187,124
Transfers to Other Funds (5,997,245) (5,993,098) (5,958,941) 34,157
Total Other Financing Sources/(Uses) (7,318,392) (7,407,549) (5,771,817} 1,635,732
Net Change in Fund Balances (1,261,103) (1,261,103) 159,932 1,421,035
Fund Balances, October 1 1,261,103 1,261,103 1,822,078 560,975
Fund Balances, September 30 $ - $ - $ 1,982,010 $ 1,982,010
G-51
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
911 ENHANCEMENT FEES SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Charges for Services $ 450,000 $ 720,000 $ 564,955 $ (155,045)
Investment Income 1,000 1,000 1,170 170
Total Revenues 451,000 721,000 566,125 (154,875)
Other Financing Sources/(Uses):
Transfers to Other Funds (428,450) (698,450) (568,585) 129,865
Net Change in Fund Balances 22,550 22,550 (2,460) (25,010)
Fund Balances, October 1 (22,550) (22,550) 2,507 25,057
Fund Balances, September 30 $ - $ - $ 47 $ 47
G-52
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
DUCK KEY SECURITY DISTRICT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 73,000 $ 73,000 $ 75,325 $ 2,325
Investment Income 6,000 6,000 3,345 (2,655)
Total Revenues 79,000 79,000 78,670 (330)
EXPENDITURES:
Current:
Public Safety:
Island Security 171,656 171,656 48,017 123,639
Excess/Deficiency of Revenues
Over/(Under) Expenditures (92,656) (92,656) 30,653 123,309
Other Financing Sources/(Uses):
Reserve for Contingencies (25,044) (25,044) - 25,044
Reserve for Cash Balance (50,087) (50,087) - 50,087
Transfers from Other Funds - - 502 502
Transfers to Other Funds (3,650) (3,650) (11024) 2,626
Total Other Financing Sources/(Uses) (78,781) (78,781) (522) 78,259
Net Change in Fund Balances (171,437) (171,437) 30,131 201,568
Fund Balances, October 1 171,437 171,437 311,811 140,374
Fund Balances, September 30 $ - $ - $ 341,942 $ 341,942
G-53
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BOATING IMPROVEMENT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Charges for Services $ 500,000 $ 500,000 $ 649,217 $ 149,217
Investment Income 20,000 20,000 17,886 (2,114)
Miscellaneous - - 1,000 1,000
Total Revenues 520,000 520,000 668,103 148,103
EXPENDITURES:
Current:
Physical Environment:
Boating Improvement 550,000 550,000 292,525 257,475
Boating Imp Fees/Retained Vessel 200,000 200,000 13,784 186,216
Total Expenditures 750,000 750,000 306,309 443,691
Excess/Deficiency of Revenues
Over/(Under) Expenditures (230,000) (230,000) 361,794 591,794
Other Financing Sources/(Uses):
Reserve for Contingencies (100,000) (100,000) - 100,000
Reserve for Cash Balance (212,500) (212,500) - 212,500
Total Other Financing Sources/(Uses) (312,500) (312,500) - 312,500
Net Change in Fund Balances (542,500) (542,500) 361,794 904,294
Fund Balances, October 1 542,500 542,500 1,583,135 1,040,635
Fund Balances, September 30 $ - $ - $ 1,944,929 $ 1,944,929
G-54
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
MISCELLANEOUS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ $ 5,500 34,540 $ 29,040
Charges for Services 287,144 323,325 36,181
Fines and Forfeitures 214,741 282,395 67,654
Investment Income - 18,882 18,882
Miscellaneous 8,000 72 (7,928)
Total Revenues 515,385 659,214 143,829
EXPENDITURES:
Current:
Public Safety:
Education-Building Department 23,500 23,500 22,575 925
Environmental Resource Education - 5,500 3,467 2,033
Total Public Safety 23,500 29,000 26,042 2,958
Human Services:
FL Keys Council for the Handicapped 5,740 6 5,734
Animal Control Citations 180 - 180
Bayshore Donations 1,305 - 1,305
Traffic Educ, Ord 021-2002 154,924 159,394 159,394 -
Legal Aid 29,028 27,787 1,241
Total Human Services 154,924 195,647 187,187 8,460
Culture and Recreation:
Settler's Park Landscaping 11,711 11,711 - 11,711
KL Community Pk Playground Equip - 9,235 9,234 1
Library Special Programs - 31,451 8,018 23,433
Total Culture and Recreation 11,711 52,397 17,252 35,145
Court Related:
Alt Dispute Resolution - Civil - 10,828 1,063 9,765
Ord 016-2004 St Court Sup - 119,996 52,871 67,125
SA Ct Tech FS28.24(12)(E) - 416,880 73,727 343,153
PD Ct Tech FS28.24(12)(E) - 106,250 69,040 37,210
J Ct Tech FS28.24(12)(E) - 305,215 184,275 120,940
Total Court Related - 959,169 380,976 578,193
(Continued)
G-55
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL -CONTINUED
MISCELLANEOUS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Total Expenditures 190,135 1,236,213 611,457 624,756
Excess/Deficiency of Revenues
Over/(Under) Expenditures (190,135) (720,828) 47,757 768,585
Other Financing Sources/(Uses):
Reserve for Contingencies (2,127,048) (1,338,534) - 1,338,534
Transfers from Other Funds - 1,235 - (1,235)
Transfers to Other Funds - (259,056) (214,853) 44,203
Total Other Financing Sources/(Uses) (2,127,048) (1,596,355) (214,853) 1,381,502
Net Change in Fund Balances (2,317,183) (2,317,183) (167,096) 2,150,087
Fund Balances, October 1 2,317,183 2,317,183 1,999,975 (317,208)
Fund Balances, September 30 $ - $ - $ 1,832,879 $ 1,832,879
G-56
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
ENVIRONMENTAL RESTORATION SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Fines and Forfeitures $ 100,000 $ 100,000 $ 133,368 $ 33,368
Investment Income 40,000 40,000 12,857 (27,143)
Total Revenues 140,000 140,000 146,225 6,225
EXPENDITURES:
Current:
Physical Environment:
Environmental Restoration 214,009 214,009 153,612 60,397
Excess/Deficiency of Revenues
Over/(Under) Expenditures (74,009) (74,009) (7,387) 66,622
Other Financing Sources/(Uses):
Reserve for Contingencies (30,573) (30,573) - 30,573
Reserve for Cash Balance (61,146) (61,146) - 61,146
Total Other Financing Sources/(Uses) (91,719) (91,719) - 91,719
Net Change in Fund Balances (165,728) (165,728) (7,387) 158,341
Fund Balances, October 1 165,728 165,728 1,328,385 1,162,657
Fund Balances, September 30 $ - $ - $ 1,320,998 $ 1,320,998
G-57
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
LAW ENFORCEMENT TRUST SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ 15,000 $ 32,664 $ 6,058 $ (26,606)
Miscellaneous - 102,851 - (102,851)
Total Revenues 15,000 135,515 6,058 (129,457)
Excess/Deficiency of Revenues
Over/(Under) Expenditures 15,000 135,515 6,058 (129,457)
Other Financing Sources/(Uses):
Reserve for Contingencies (60,097) (60,097) - 60,097
Reserve for Cash Balance (117,344) (117,344) - 117,344
Transfers from Other Funds - - 37,685 37,685
Transfers to Other Funds (423,527) (544,042) (84,362) 459,680
Total Other Financing Sources/(Uses) (600,968) (721,483) (46,677) 674,806
Net Change in Fund Balances (585,968) (585,968) (40,619) 545,349
Fund Balances, October 1 585,968 585,968 683,641 97,673
Fund Balances, September 30 $ - $ - $ 643,022 $ 643,022
G-58
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
COURT FACILITY FEES SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Charges for Services $ 300,000 $ 300,000 $ 557,368 $ 257,368
Investment Income - - 15,603 15,603
Total Revenues 300,000 300,000 572,971 272,971
EXPENDITURES:
Current:
Court Related:
Court Facility 621,091 621,091 90,446 530,645
Excess/Deficiency of Revenues
Over/(Under) Expenditures (321,091) (321,091) 482,525 803,616
Other Financing Sources/(Uses):
Reserve for Contingencies (88,729) (88,729) - 88,729
Reserve for Cash Balance (177,472) (177,472) - 177,472
Total Other Financing Sources/(Uses) (266,201) (266,201) - 266,201
Net Change in Fund Balances (587,292) (587,292) 482,525 1,069,817
Fund Balances, October 1 587,292 587,292 1,370,472 783,180
Fund Balances, September 30 $ - $ - $ 1,852,997 $ 1,852,997
G-59
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
DRUG ABUSE TRUST SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Charges for Services $ 20,000 $ 20,000 $ 13,237 $ (6,763)
Investment Income 5,000 5,000 1,415 (3,585)
Total Revenues 25,000 25,000 14,652 (10,348)
EXPENDITURES:
Current:
Human Services:
Drug Abuse Trust Fund - 35,000 30,480 4,520
Excess/Deficiency of Revenues
Over/(Under) Expenditures 25,000 (10,000) (15,828) (5,828)
Other Financing Sources/(Uses):
Reserve for Contingencies (5,000) (5,000) - 5,000
Reserve for Cash Balance (10,000) (10,000) - 10,000
Transfers to Other Funds (35,000) - - -
Total Other Financing Sources/(Uses) (50,000) (15,000) - 15,000
Net Change in Fund Balances (25,000) (25,000) (15,828) 9,172
Fund Balances, October 1 25,000 25,000 148,456 123,456
Fund Balances, September 30 $ - $ - $ 132,628 $ 132,628
G-60
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
MARATHON MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ - $ - $ 6,668 $ 6,668
Investment Income 500 500 495 (5)
Total Revenues 500 500 7,163 6,663
EXPENDITURES:
Current:
Physical Environment:
Marathon Wastewater 33,660 33,660 33,660 -
Excess/Deficiency of Revenues
Over/(Under) Expenditures (33,160) (33,160) (26,497) 6,663
Other Financing Sources/(Uses):
Reserve for Contingencies (4,675) (4,675) 4,675
Reserve for Cash Balance (7,012) (7,012) - 7,012
Transfers from Other Funds 100 100
Transfers to Other Funds (1,402) (1,402) (200) 1,202
Total Other Financing Sources/(Uses) (13,089) (13,089) (100) 12,989
Net Change in Fund Balances (46,249) (46,249) (26,597) 19,652
Fund Balances, October 1 46,249 46,249 51,961 5,712
Fund Balances, September 30 $ - $ - $ 25,364 $ 25,364
G-61
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BAY POINT MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ 1,000 $ 500 $ 1,014 $ 514
EXPENDITURES:
Current:
Physical Environment:
Bay Point Wastewater 16,154 56,510 - 56,510
Excess/Deficiency of Revenues
Over/(Under) Expenditures (15,154) (56,010) 1,014 57,024
Other Financing Sources/(Uses):
Reserve for Contingencies (2,955) (8,280) - 8,280
Reserve for Cash Balance - (15,525) 15,525
Transfers to Other Funds (591) (2,484) 2,484
Total Other Financing Sources/(Uses) (3,546) (26,289) 26,289
Net Change in Fund Balances (18,700) (82,299) 1,014 83,313
Fund Balances, October 1 18,700 82,299 102,905 20,606
Fund Balances, September 30 $ - $ -
$ 103,919 103,919
G-62
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BIG COPPITT MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ - $ - $ 2 $ 2
Investment Income 1,000 600 1,144 544
Total Revenues 1,000 600 1,146 546
EXPENDITURES:
Current:
Physical Environment:
Big Coppitt Wastewater 35,874 90,105 88,732 1,373
Excess/Deficiency of Revenues
Over/(Under) Expenditures (341874), (89,505) (87,586) 1,919
Other Financing Sources/(Uses):
Reserve for Contingencies (4,147) (13,448) 13,448
Reserve for Cash Balance (26,896) 26,896
Transfers to Other Funds (1,448) (4,035) (1,00) 3,035
Total Other Financing Sources/(Uses) (5,595) (44,379) (1,000) 43,379
Net Change In Fund Balances (40,469) (133,884) (88,586) 45,298
Fund Balances, October 1 40,469 133,884 167,392 33,508
Fund Balances, September 30 $ - $ - $ 78,806 $ 78,806
G-63
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
KEY LARGO MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ - $ - $ 1,384 $ 1,384
Investment Income - - 730 730
Total Revenues - - 2,114 2,114
EXPENDITURES:
Current:
Physical Environment:
Key Largo Wastewater 25,775 25,775 11,924 13,851
Excess/Deficiency of Revenues
Over/(Under) Expenditures (25,775) (25,775) (9,810) 15,965
Other Financing Sources/(Uses):
Reserve for Contingencies (1,546) (1,546) - 1,546
Reserve for Cash Balance (3,091) (3,091) - 3,091
Transfers from Other Funds - - 21 21
Transfers to Other Funds (500) (500) (41) 459
Total Other Financing Sources/(Uses) (5,137) (5,137) (20) 5,117
Net Change in Fund Balances (30,912) (30,912) (9,830) 21,082
Fund Balances, October 1 30,912 30,912 42,128 11,216
Fund Balances, September 30 $ - $ - $ 32,298 $ 32,298
G-64
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
STOCK ISLAND WASTEWATER SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ - $ - $ 153 $ 153
Licenses and Permits - 36,000 47,002 11,002
Investment Income 5,000 2,000 4,528 2,528
Total Revenues 5,000 38,000 51,683 13,683
EXPENDITURES:
Current:
Physical Environment:
Stock Island Wastewater 172,079 224,530 7,309 217,221
Stock Island Cap Fee Refund 23,573 38,712 - 38,712
Total Expenditures 195,652 263,242 7,309 255,933
Excess/Deficiency of Revenues
Over/(Under) Expenditures 19( 0,652) (225,242) 44,374 269,616
Other Financing Sources/(Uses):
Reserve for Contingencies (35,359) (38,713) - 38,713
Reserve for Cash Balance - (77,424) - 77,424
Transfers from Other Funds - - 502 502
Transfers to Other Funds �4,714) (7,742) (1,000) 6,742
Total Other Financing Sources/(Uses) (40,073) (12 ,879) (498) 123,381
Net Change in Fund Balances (230,725) (349,121) 43,876 392,997
Fund Balances, October 1 230,725 349,121 438,777 89,656
Fund Balances, September 30 $ - $ - $ 482,653 $ 482,653
G-65
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
CUDJOE-SUGARLOAF MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ - $ - $ 31 $ 31
Investment Income 5,000 1,200 2,308 1,108
Total Revenues 5,000 1,200 2,339 1,139
EXPENDITURES:
Current:
Physical Environment:
Cudjoe-Sugarloaf Wastewater 118,710 136,268 29,213 107,055
Excess/Deficiency of Revenues
Over/(Under) Expenditures (113,710) (135,068) (26,874) 108,194
Other Financing Sources/(Uses):
Reserve for Contingencies (17,718) (20,336) - 20,336
Reserve for Cash Balance (35,436) (40,673) - 40,673
Transfers from Other Funds - - 9 9
Transfers to Other Funds (5,315) (6,084) (18) 6,066
Total Other Financing Sources/(Uses) (58,469) (67,093) (9) 67,084
Net Change in Fund Balances (172,179) (202,161) (26,883) 175,278
Fund Balances, October 1 172,179 202,161 252,806 50,645
Fund Balances, September 30 $ - $ - $ 225,923 $ 225,923
G-66
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
CONCH KEY MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ 100 $ 100 $ 1 $ (99)
EXPENDITURES:
Current:
Physical Environment:
Conch Key MSTU 2,785 2,785 132 2,653
Excess/Deficiency of Revenues
Over/(Under) Expenditures (21685) (2,685) (131) 2,554
Other Financing Sources/(Uses):
Reserve for Contingencies (509) (509) - 509
Transfers to Other Funds (102) (102) 102
Total Other Financing Sources/(Uses) (611) (611) - 611
Net Change in Fund Balances (3,296) (3,296) (131) 3,165
Fund Balances, October 1 3,296 3,296 4,453 1,157
Fund Balances, September 30 $ - $ - $ 4,322 $ 4,322
G-67
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
LONG KEY-LAYTON MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ 100 $ 100 $ 341 $ 241
EXPENDITURES:
Current:
Physical Environment:
Long Key-Layton Wastewater 11,701 17,500 3,618 13,882
Excess/Deficiency of Revenues
Overt(Under) Expenditures (11,601) (17,400) (3,277) 14,123
Other Financing Sources/(Uses):
Reserve for Contingencies (2,141) (2,141) - 2,141
Reserve for Cash Balance - (5,129) - 5,129
Transfers to Other Funds (428) (505) - 505
Total Other Financing Sources/(Uses) (2,569) (7,775) - 7,775
Net Change in Fund Balances (14,170) (25,175) (3,277) 21,898
Fund Balances, October 1 14,170 25,175 31,474 6,299
Fund Balances, September 30 $ - $ - $ 28,197 $ 28,197
G-68
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
DUCK KEY MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ - $ - $ 801 $ 801
Investment Income 1,500 400 723 323
Total Revenues 1,500 400 1,524 1,124
EXPENDITURES:
Current:
Physical Environment:
Duck Key Wastewater 35,465 50,124 33,693 16,431
Excess/Deficiency of Revenues
Over/(Under) Expenditures (33,965) (49,724) (32,169) 17,555
Other Financing Sources/(Uses):
Reserve for Contingencies (5,293) (7,387) - 7,387
Reserve for Cash Balance (10,586) (14,775) - 14,775
Transfers from Other Funds - - 12 12
Transfers to Other Funds (1,588) (1,588) - 1,588
Total Other Financing Sources/(Uses) (17,467) (23,750) 12 23,762
Net Change in Fund Balances (51,432) (73,474) (32,157) 41,317
Fund Balances, October 1 51,432 73,474 91,869 18,395
Fund Balances, September 30 $ - $ - $ 59,712 $ 59,712
G-69
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BUILDING FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 2,660,000 $ 2,660,000 $ 2,295,814 $ (364,186)
Charges for Services 5,000 5,000 4,920 (80)
Investment Income 20,000 20,000 14,348 (5,652)
Miscellaneous 9,000 9,000 10,050 1,050
Total Revenues 2,694,000 2,694,000 2,325,132 (368,868)
EXPENDITURES:
Current:
Public Safety
Building Department 2,389,816 2,384,816 2,144,364 240,452
Building Refunds 2,000 17,000 11,745 5,255
Total Public Safety 2,391,816 2,401,816 2,156,109 245,707
Excess/Deficiency of Revenues
Over/(Under) Expenditures 302,184 292,184 169,023 (123,161)
Other Financing Sources/(Uses):
Reserve for Contingencies (59,500) (49,500) - 49,500
Reserve for Cash Balance (598,134) (598,134) - 598,134
Transfers to Other Funds (580,907) (580,907) (368,870) 212,037
Total Other Financing Sources/(Uses) (1,238,541) (1,228,541) (368,870) 859,671
Net Change in Fund Balances (936,357) (936,357) (199,847) 736,510
Fund Balances, October 1 936,357 936,357 1,256,803 320,446
Fund Balances, September30 $ - $ - $ 1,056,956 $ 1,056,956
G-70
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S COMMISSARY SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Charges for Services $ 405,500 $ 362,000 $ 361,812 (188)
Investment Income 1,000 900 879 (21)
Miscellaneous 15,000 10,300 10,266 (34)
Total Revenues 421,500 373,200 372,957 (243)
EXPENDITURES:
Current:
Public Safety 790,000 324,000 318,427 5,573
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures (368,500) 49,200 54,530 5,330
Other Financing Sources/(Uses):
Transfers from Other Funds 2,500 3,000 2,999 (1)
Net Change in Fund Balances (366,000) 52,200 57,529 5,329
Fund Balances, October 1 179,052 179,052 179,052 -
Fund Balances, September 30 $ (186,948) $ 231,252 $ 236,581 $ 5,329
G-71
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S IMPACT SUPPORT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual {Negative}
REVENUES:
Intergovernmental $ 185,000 $ 175,000 $ 169,746 $ (5,254)
EXPENDITURES:
Current:
Public Safety 185,000 175,000 169,746 5,254
Net Change in Fund Balances - - - -
Fund Balances, October 1 - - - -
Fund Balances, September 30 $ - $ - $ - $ -
G-72
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S OFF-DUTY SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Intergovernmental $ 244,000 $ 212,500 $ 199,524 $ (12,976)
Charges for Services - 23,000 31,276 8,276
Total Revenues 244,000 235,500 230,800 (4,700)
EXPENDITURES:
Current:
Public Safety 244,000 235,500 230,800 4,700
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures - - - -
Net Change in Fund Balances - - - -
Fund Balances, October 1 - - - -
Fund Balances, September 30 $ - $ - $ - $ -
G-73
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S GRANTS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Intergovernmental $ 249,910 $ 335,427 $ 327,274 $ (8,153)
Investment Income 7,500 - - -
Total Revenues 257,410 335,427 327,274 (8,153)
EXPENDITURES:
Current:
Public Safety 927,410 1,030,700 1,028,311 2,389
Grants and Aid 5,000 - - -
Total Expenditures 932,410 1,030,700 1,028,311 2,389
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures (675,000) (695,273) (701,037) (5,764)
Other Financing Sources/(Uses):
Transfers from Other Funds 675,000 695,273 694,025 (1,248)
Net Change in Fund Balances - - (7,012) (7,012)
Fund Balances, October 1 7,012 7,012 7,012 -
Fund Balances, September 30 $ 7,012 $ 7,012 $ - $ (7,012)
G-74
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S TEEN COURT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Charges for Services $ 75,000 $ 72,000 $ 70,414 $ (1,586)
EXPENDITURES:
Current:
Public Safety 101,626 63,000 61,016 1,984
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures (26,626) 9,000 9,398 398
Other Financing Sources/(Uses):
Transfers from Other Funds 26,626 - - -
Net Change in Fund Balances - 9,000 9,398 398
Fund Balances, October 1 - - - -
Fund Balances, September 30 $ - $ 9,000 $ 9,398 398
G-75
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S SOUTH FLORIDA LAW ENFORCEMENT TRUST SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Intergovernmental $ - $ - $ 120,207 $ 120,207
Investment Income - - 2,692 2,692
Total Revenues - - 122,899 122,899
EXPENDITURES:
Current:
Public Safety 555,000 185,000 165,003 19,997
Grants and Aid 25,000 - - -
Total Expenditures 580,000 185,000 165,003 19,997
Net Change in Fund Balances (580,000) (185,000) (42,104) 142,896
Fund Balances, October 1 729,579 729,579 729,579 -
Fund Balances, September 30 $ 149,579 $ 544,579 $ 687,475 $ 142,896
G-76
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S SHARED ASSET FORFEITURE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ 200,000 $ 1,000 $ 226,689 $ 225,689
EXPENDITURES:
Current:
Public Safety 2,000 2,000 823 1,177
Grants and Aid 198,000 198,000 187,047 10,953
Total Expenditures 200,000 200,000 187,870 12,130
Net Change in Fund Balances - (199,000) 38,819 237,819
Fund Balances, October 1 4,974,945 4,974,945 4,974,945 -
Fund Balances, September 30 $ 4,974,945 $ 4,775,945 $ 5,013,764 $ 237,819
G-77
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S FEDERAL FORFEITURE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Intergovernmental $ - $ - $ 36,022 $ 36,022
Investment Income - - 4,209 4,209
Total Revenues - - 40,231 40,231
EXPENDITURES:
Current:
Public Safety 125,000 151,000 145,256 5,744
Grants and}lid 10,000 30,000 26,000 4,000
Total Expenditures 135,000 181,000 171,256 9,744
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures (135,000) (181,000) (131,025) 49,975
Net Change in Fund Balances (135,000) (181,000) (131,025) 49,975
Fund Balances, October 1 1,191,026 1,191,026 1,191,026 -
Fund Balances, September 30 $ 1,056,026 $ 1,010,026 $ 1,060,001 $ 49,975
G-78
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S CONTRACT ADMINISTRATIVE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Charges for Services 810,250 $ 1,070,000 $ 1,061,958 $ (8,042)
Investment Income - 600 463 (137)
Total Revenues 810,250 1,070,600 1,062,421 _ (8,179)
EXPENDITURES:
Current:
Public Safety 655,000 942,000 934,436 7,564
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures 155,250 128,600 127,985 (615)
Net Change in Fund Balances 155,250 128,600 127,985 (615)
Fund Balances, October 1 266,065 266,065 266,065 -
Fund Balances, September 30 $ 421,315 $ 394,665 $ 394,050 $ (615)
G-79
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANCES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFFS AIRPORT SERVICES SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Charges for Services $ 1,773,962 $ 1,773,962 $ 1,733,777 $ (40,185)
EXPENDITURES:
Current:
Public Safety 1,773,962 1,773,962 1,733,777 40,185
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures - - - -
Net Change in Fund Balances - - - -
Fund Balances, October 1 - - - -
Fund Balances, September 30 $ - $ - $ - $ -
G-80
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S LAW ENFORCEMENT TRUST FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
EXPENDITURES:
Current:
Public Safety 55,000 - - -
Grants and Aid 117,500 69,000 64,478 4,522
Total Expenditures 172,500 69,000 64,478 4,522
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures (172,500) (69,000) (64,478) 4,522
Other Financing Sources/(Uses):
Transfers from Other Funds 175,000 91,000 84,362 (6,638)
Transfers to Other Funds (2,500) (22,000) (19,884) 2,116
Total Other Financing Sources/Uses 172,500 69,000 64,478 (4,522)
Net Change in Fund Balances - - - -
Fund Balances, October 1 - - - -
Fund Balances, September 30 $ - $ - $ - $ -
G-81
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S STATE FORFEITURE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Fines and Forfeitures $ 67,700 $ 68,000 $ 63,857 $ (4,143)
Investment Income - 500 229 (271)
Miscellaneous - 63,000 62,277 (723)
Total Revenues 67,700 131,500 126,363 (5,137)
EXPENDITURES:
Current:
Public Safety 24,450 96,000 88,678 7,322
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures 43,250 35,500 37,685 2,185
Other Financing Sources/(Uses):
Transfers to Other Funds (43,250) (35,500) (37,685) (2,185)
Net Change in Fund Balances
Fund Balances, October 1 - - -
Fund Balances, September 30 $ - $ - $ - $ _
G-82
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S INTERAGENCY COMMUNICATIONS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Charges for Services $ - $ 63,000 $ 63,695 $ 695
Investment Income 1,000 4,000 4,421 421
Miscellaneous - 7,000 7,614 614
Total Revenues 1,000 74,000 75,730 1,730
EXPENDITURES:
Current:
Public Safety 455,000 258,500 257,876 624
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures (454,000) (184,500) (182,146) 2,354
Other Financing Sources/(Uses):
Transfers from Other Funds 258,500 160,000 159,279 (721)
Net Change in Fund Balances (195,500) (24,500) (22,867) 1,633
Fund Balances, October 1 1,248,198 1,248,198 1,248,198 -
Fund Balances, September 30 $ 1,052,698 $ 1,223,698 $ 1,225,331 $ 1,633
G-83
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S E911 SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ 5,000 $ 5,000 $ 5,465 $ 465
EXPENDITURES:
Current:
Public Safety 58 ,000 296,000 236,784 59,216
Grants and Aid 5,000 - - -
Total Expenditures 588,000 296,000 236,784 59,216
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures (5831000) (291,000) (231,319) 59,681
Other Financing Sources/(Uses):
Transfers from Other Funds 568,000 569,000 568,585 4�)
Net Change in Fund Balances (15,000) 278,000 337,266 59,266
Fund Balances, October 1 1,383,685 1,383,685 1,383,685 -
Fund Balances, September 30 $ 1,368,685 $ 1,661,685 $ 1,720,951 $ 59,266
G-84
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S TRAUMA STAR SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
EXPENDITURES:
Current:
Public Safety 1,261,714 1,261,714 1,164,598 97,116
Excess/{Deficiency} of Revenues
Over/(Under) Expenditures (1,261,714) (1,261,714) (1,164,598) 97,116
Other Financing Sources/(Uses):
Transfers from Other Funds 1,261,714 1,261,714 1,164,598 (97,116)
Net Change in Fund Balances - - - -
Fund Balances, October 1 - - - -
Fund Balances, September 30 $ - $ - $ - $ -
G-85
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S RADIO COMMUNICATIONS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
EXPENDITURES:
Current:
Public Safety 424,367 424,367 369,309 55,056
Excess/(Deficiency) of Revenues
Overl(Under) Expenditures (424.367) (424,367) (369,309) 55,058
Other Financing Sources/(Uses):
Transfers from Other Funds 424,367 424,367 369,309 (55,058)
Net Change in Fund Balances - - - -
Fund Balances, October 1 - - - -
Fund Balances, September 30 $ - $ - $ - $ -
G-86
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
CLERK'S RECORDS MODERNIZATION SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Charges for Services $ 256,000 $ 256,000 $ 219,642 $ (36,358)
Fines and Forfeitures 90,000 90,000 192,810 102,810
Investment Income - - 7,537 7,537
Total Revenues 346,000 346,000 419,989 73,989
EXPENDITURES:
Current:
Court Related:
Modernization Trust 687,720 687,720 157,781 529,939
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures (3411720) (341,720) 262,208 603,928
Other Financing Sources/(Uses):
Reserve for Contingencies (98,200) (98,200) - 98,200
Net Change in Fund Balances (439,920) (439,920) 262,208 702,128
Fund Balances, October 1 636,400 636,400 689,433 53,033
Fund Balances, September 30 $ 196,480 $ 196,480 $ 951,641 $ 755,161
G-87
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
CLERK'S COURT RELATED SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Intergovernmental $ 3,477,938 $ 3,488,285 $ 3,345,573 $ (142,712)
EXPENDITURES:
Current:
Court Related:
Clerk Administration 281,673 281,673 268,853 12,820
Clerk Records Management 331,541 307,541 282,298 25,243
Clerk Jury Management 114,527 156,527 154,171 2,356
Clerk Circuit Court Criminal 793,263 750,703 731,572 19,131
Clerk Circuit Court Civil 469,912 469,912 463,555 6,357
Clerk Circuit Court Foreclosure - 10,347 8,448 1,899
Clerk Circuit Court Family 134,318 134,318 122,681 11,637
Clerk Circuit Court Juvenile 116,034 116,034 112,134 3,900
Clerk Circuit Court Probate 93,671 93,671 91,868 1,803
Clerk County Court Criminal 557,626 558,626 557,182 1,444
Clerk County Court Civil 192,856 230,416 220,293 10,123
Clerk County Court Traffic 643,761 629,761 610,601 19,160
Total Expenditures 3,729,182 3,739,529 3,623,656 115,873
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures (251,244) (251,244) (278,083) (26,839)
Other Financing Sources/(Uses):
Reserve for Contingencies (103,557) (103,557) - 103,557
Transfer from Other Funds 754,989 754,989 712,908 (42,081)
Transfer to Other funds (400,188) (400,188) (434,825) (34,637)
Total Other Financing Sources/(Uses) 251,244 251,244 278,083 26,839
Net Change in Fund Balances - - - -
Fund Balances, October 1 - - - -
Fund Balances, September 30 $ - $ - $ - $ -
G-88
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES - BUDGET AND ACTUAL
ONE CENT INFRASTRUCTURE SURTAX CAPITAL PROJECT FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Taxes $ 12,879,210 $ 12,879,210 $ 14,085,030 $ 1,205,820
Investment Income 100,000 100,000 168,779 68,779
Miscellaneous 10 10 - (10)
Total Revenues 12,979,220 12,979,220 14,253,809 1,274,589
EXPENDITURES:
Current:
Capital Outlay:
General Government:
ADA Assessments 199,500 183,644 107,256 76,388
General Government Projects 57,444 113,500 67,560 45,940
Total General Government 256,944 297,144 174,816 122,328
Public Safety
Public Safety Capital Projects 1,537,507 1,548,012 260,716 1,287,296
Med Exam Environmental Mitigtn 12,500 5,500 5,500 -
Total Public Safety 1,550,007 1,553,512 266,216 1,287,296
Physical Environment 1,524,800 34,800 - 34,800
Transportation: Const. Mgmt 633,185 500,000 375,476 124,524
Total Capital Outlay Expenditures 3,964,936 2,385,456 816,508 1,568,948
Excess/Deficiency of Revenues
Over/(Under) Expenditures 9,014,284 10,593,764 13,437,301 2,843,537
Other Financing Sources/(Uses):
Reserve for Contingencies (2,010,000) (2,368,338) - 2,368,338
Reserve for Cash Balance (1,891,755) (1,891,755) - 1,891,755
Transfers from Other Funds 477,282 488,591 282,184 (206,407)
Transfers to Other Funds (14,745,144) (18,426,217) (8,215,900) 10,210,317
Total Other Financing Sources/(Uses) (18,169,617) (22,197,719) (7,933,716) 14,264,003
Net Change in Fund Balances (9,155,333) (11,603,955) 5,503,585 17,107,540
Fund Balances, October 1 9,155,333 11,603,955 16,217,811 4,613,856
Fund Balances, September 30 $ - $ - $21,721,396 $ 21,721,396
G-89
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
INFRASTRUCTURE SALES SURTAX REVENUE BONDS,
SERIES 2007 CAPITAL PROJECTS FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ 250,000 $ 250,000 $ 62,826 . $ (187,174)
EXPENDITURES:
Current:
Capital Outlay:
General Government:
General Government Projects 16,000 1,000 122 878
Public Safety Projects 4,691,973 4,535,973 49,601 4,486,372
Physical Environment Projects 9,443,733 7,745,760 2,632,872 5,112,888
Culture and Recreation Projects 60,000 60,000 523 59,477
Total Capital Outlay Expenditures 14,211,706 12,342,733 2,683,118 9,659,615
Excess/Deficiency of Revenues
Over/(Under) Expenditures (13,961,706) (12,092,733) (2,620,292) 9,472,441
Other Financing Sources/(Uses):
Reserve for Contingencies (667,875) 667,875
Reserve for Cash Balance (491,892) 491,892
Transfers from Other Funds 145,000 (145,000)
Total Other Financing Sources/(Uses) (1,01 767) 1,014,767
Net Change in Fund Balances (13,961,706) (13,107,500) (2,620,292) 10,487,208
Fund Balances, October 1 13,961,706 13,107,500 16,205,903 3,098,403
Fund Balances, September 30 $ - $ - $ 13,585,611 $ 13,585,611
G-90
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
ALL DEBT SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ 60,000 $ 60,000 $ 63,361 $ 3,361
EXPENDITURES:
Current:
Debt Service:
2003 Revenue Bonds:
Principal 1,335,000 1,335,000 1,335,000 -
Interest 516,733 516,733 496,708 20,025
Total 2003 Revenue Bonds 1,851,733 1,851,733 1,831,708 20,025
2007 Revenue Bonds
Principal - 2,590,000 2,590,000 -
Interest 1,143,800 1,143,800 1,092,000 51,800
Other Debt Service Costs 255 4,255 4,255 -
Total Guaranteed Entitlement Ln 1,144,055 3,738,055 3,686,255 51,800
FRUFC Revenue Notes
Principal 2,590,000 21,000,000 21,000,000 -
Interest 882,000 752,000 720,408 31,592
Other Debt Service Costs - 16,000 3,500 12,500
Total FRUC Revenue Notes 3,472,000 21,768,000 21,723,908 44,092
Clean Water SRF Loan
Principal - 2,402,296 525,241 1,877,055
Interest - 402,774 143,133 259,641
Other Debt Service Costs - 400,000 - 400,000
Total Guaranteed Entitlement Ln - 3,205,070 668,374 2,536,696
Total Expenditures 6,467,788 30,562,858 27,910,245 2,652,613
Excess/Deficiency of Revenues
Over/(Under) Expenditures (6,407,788) (30,502,858) (27,846,884) 2,655,974
Other Financing Sources/(Uses):
Reserve for Contingencies (760,126) (1,000,000) - 1,000,000
Reserve for Cash Balance (919,321) (919,321) - 919,321
(Continued)
G-91
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL - CONTINUED
ALL DEBT SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Transfers from Other Funds 5,585,788 15,051,652 12,013,266 (3,038,386)
Debt Proceeds - 14,629,206 14,494,806 (134,400)
Total Other Financing Sources/(Uses) 3,906,341 27,761,537 26,508,072 (1,253,465)
Net Change in Fund Balances (2,501,447) (2,741,321) (1,338,812) 1,402,509
Fund Balances, October 1 2,501,447 2,741,321 3,430,403 689,082
Fund Balances, September 30 $ - $ - $ 2,091,591 $ 2,091,591
G-92
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF NET ASSETS
INTERNAL SERVICE FUNDS
SEPTEMBER 30, 2010
Worker's Group Risk
Compensation Insurance Management
Fund Fund Fund
ASSETS
Current Assets:
Cash and Cash Equivalents $ 413,248 $ 1,008,477 $ 473,523
Investments 4,346,902 14,933,093 4,740,091
Accounts Receivable, Net 40 31,021 2,913
Due from Other Funds 15,400 67,710
Due from Other Governmental Units - 107,906 -
Interest Receivable 15,330 51,007 16,763
Total current assets 4,790,920 16,199,214 5,233,290
Noncurrent Assets:
Land and Other Nondepreciable Assets - - -
Capitai Assets, Net of Accum. Depreciation - 1,071 6,082
Total Noncurrent Assets - 1,071 6,082
Total Assets 4,790,920 16,200,285 5,239,372
LIABILITIES
Current Liabilities:
Accounts Payable 20,876 146,952 20,602
Accrued Wages and Benefits Payable 10,081 9,812 8,032
Claims and Judgements Payable 1,681,795 4,247,036 165,435
Due to Other Funds - - -
Accrued Comp. Absences Payable 386 382 386
Total Current Liabilities 1,713,138 4,404,182 194,455
Noncurrent Liabilities:
Accrued Comp. Absences Payable 28,614 26,017 23,074
OPEB Liability 49,164 26,911 41,003
Total Noncurrent Liabilities 77,778 52,928 64,077
Total Liabilities 1,790,916 4,457,110 258,532
NET ASSETS
Invested in Capital Assets, Net of Related Debt - 1,071 6,082
Unrestricted 3,000,004 11,742,104 4,974,758
Total Net Assets $ 3,000,004 $ 11,743,175 $ 4,980,840
G-93
Fleet
Management
Fund Total
$ 248,985 $ 2,144,233
972,230 24,992,316
- 33,974
76 83,186
27,709 135,615
5,183 88,283
1,254,183 27,477,607
54,000 54,000
1,051,391 1,058,544
1,105,391 1,112,544
2,359,574 28,590,151
48,386 236,816
51,629 79,554
- 6,094,266
379 379
9,151 10,305
109,545 6,421,320
56,747 134,452
173,512 290,590
230,259 425,042
339,804 6,846,362
1,152,292 1,159,445
867,478 20,584,344
$ 2,019,770 $ 21,743,789
G-94
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN FUND NET ASSETS
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Worker's Group Risk
Compensation Insurance Management
Fund Fund Fund
Operating Revenues:
Charges for Services $ 1,871,240 $ 13,233,050 $ 2,703,100
Miscellaneous 53,552 - 156,396
Total operating revenues 1,924,792 13,233,050 2,859,496
Operating Expenses:
Personnel Services 189,979 212,455 190,589
Operations 379,257 705,577 1,299,810
Depreciation and Amortization 849 18 511
Asserted and Paid Claims 1,745,741 14,156,786 764,208
Total operating expenses 2,315,826 15,074,836 2,255,118
Operating Income/Loss (391,034) (1,841,786) 604,378
Non-Operating Revenues/(Expenses):
Investment Income 52,910 150,836 54,455
Insurance Recoveries 79,065 399,638 44,475
Gain (Loss) on Disposition of Assets - - (36,475)
Total Non-Operating Revenues/(Expenses) 131,975 550,474 62,455
Income/Loss Before Contributions
and Transfers (259,059) (1,291,312) 666,833
Transfers to Other Funds (57,190) (76,101) (31,170)
Change in Net Assets (316,249) (1,367,413) 635,663
Total Net Assets-October 1 3,316,253 13,110,588 4,345,177
Total Net Assets-September 30 $ 3,000,004 $ 11,743,175 $ 4,980,840
G-95
Fleet
Management
Fund Total
2,559,017 $ 20,366,407
575 210,523
2,559,592 20,576,930
1,150,760 1,743,783
1,155,803 3,540,447
73,443 74,821
- 16,666,735
2,380,006 22,025,786
179,586 (1,448,856)
19,249 277,450
- 523,178
- (36,475)
19,249 764,153
198,835 (684,703)
(468,476) (632,937)
(269,641) (1,317,640)
2,289,411 23,061,429
$ 2,019,770 $ 21,743,789
G-96
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Worker's Group Risk
Compensation Insurance Management
Fund Fund Fund
Operating Activities:
Cash received for services $ 88,615 $ 3,733,107 $ 36,039
Cash rec'vd from other funds for goods and svcs 1,783,924 9,507,473 2,667,061
Cash received from insurance recoveries 79,065 390,416 42,686
Cash payments to suppliers for goods and secs (436,234) (791,269) (1,413,687)
Cash payments for employee services (118,638) (134,448) (101,860)
Cash payments to other funds (33,613) (40,514) (43,867)
Cash payments for claims (1,598,593) (14,489,922) (740,158)
Other operating revenue 82,461 - 156,396
Net Cash Provided by/(Used in)
Operating Activities (153,013) (1,825,157) 602,610
Noncapital Financing Activities:
Transfers to other funds (57,190) (76,101) (31,170)
Capital and Related Financing Activities:
Acquisition of capital assets - (1,071) (13,750)
Investing Activities:
Investment income 59,743 236,069 74,473
Proceeds from sales and maturities of investments 10,989 16,259,975 4,172,993
Purchase of investment securities (3,132,313) (16,328,056) (4,912,928)
Net Cash Provided/(Used) in Investing Activities (3,061,581) 167,988 (665,462)
Net Increase/(Decrease) in Cash and
Cash Equivalents (3,271,784) (1,734,341) (107,772)
Cash and Cash Equivalents:
October 1 3,685,032 2,742,818 581,295
September 30 $ 413,248 $ 1,008,477 $ 473,523
G-97
Fleet
Management
Fund Total
$ 988,127 $ 4,845,888
1,633,119 15,591,577
- 512,167
(1,322,733) (3,963,923)
(678,065) (1,033,011)
(244,649) (362,643)
- (16,828,673)
575 239,432
376,374 (999,1862
(468,476) (632,937)
(6,744) (21,565)
27,101 397,386
1,923,710 22,367,667
(1,661,792) (26,035,089)
289,019 (3,270,036)
190,173 (4,923,724)
58,812 7,067,957
$ 248,985 $ 2,144,233
(Continued)
G-98
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF CASH FLOWS -CONTINUED
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Worker's 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) (391,034) $ (1,841,786) $ 604,378
Adjustments to reconcile operating income/(loss)
to net cash provided by/(used in) operating
activities:
Depreciation and Amortization 849 18 511
Nonoperating Income-insurance Recoveries 79,065 399,638 44,475
Change in assets and liabilities:
Increase/(Decrease) in Accounts receivable 28,909 (9,222) (1,789)
Increase/(Decrease) in Due from other gov't units 4,072 (18,370)
Increase/(Decrease) in Due fm constitutional ofcrs (2,773) 25,900
Increase/(Decrease) in Accounts payable (11,375) (60,600) (91,212)
Increase/(Decrease) in Accrued wages/benefits 2,755 1,295 871
Increase/(Decrease) in Claims/judgments payable 147,148 (333,136) 24,050
Increase/(Decrease) in Due to other funds - -
Increase/(Decrease) in Due to other gov't units (22,102) - -
Increase/(Decrease) in Comp. absences payable 79 382 (792)
Increase/(Decrease) in OPEB liability 11,394 10,724 22,118
Total adjustments 238,021 16,629 (1,768)
Net cash provided by/(used in)
operating activities $ (153,013) $ (1,825,157) $ 602,610
Noncash investing, capital, and financing activities:
Gain (Loss) on disposition of assets $ - $ - $ (36,475)
Cash Reconciliation:
Unrestricted $ 413,248 $ 1,008,477 $ 473,523
G-99
Fleet
Management
Fund Total
$ 179,586 $ 1,448,856)
73,443 74,821
- 523,178
- 17,898
2,183 (12,115)
60,046 83,173
(32,621) (195,808)
5,894 10,815
- (161,938)
255 255
- (22,102)
8,501 8,170
79,087 123,323
196,788 449,670
$ 376,374 $ (999,186)
$ - $ (36,475)
$ 248,985 $ 2,144,233
G-100
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF FIDUCIARY NET ASSETS
ALL AGENCY FUNDS
SEPTEMBER 30, 2010
Clerk's Sheriffs Tag
General General and Property
Agency Agency License Tax Totals
ASSETS
Cash and Cash Equivalents $ 2,330,180 $ 976,024 $ 155,728 $ 2,409,395 $ 5,871,327
Accounts Receivable 4,579 1,958 2,314 60 8,911
Total assets $ 2,334,759 $ 977,982 $ 158,042 $ 2,409,455 $ 5,880,238
LIABILITIES
Due to Others $ 1,393,561 $ 952,552 $ 1,663 $ 20,333 $ 2,368,109
Due to Other Governmental Units 941,198 25,430 156,379 2,389,122 3,512,129
Total liabilities $ 2,334,759 $ 977,982 $ 158,042 $ 2,409,455 $ 5,880,238
G-101
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS
ALL AGENCY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
10/1/2009 Additions Deductions 9/30/2010
Clerk's General
Assets
Cash and Cash Equivalents $ 3,223,363 $ 31,989,041 $ 32,882,224 $ 2,330,180
Accounts Receivable 4,198 13,048 12,667 4,579
Total assets $ 3,227,561 $ 32,002,089 $ 32,894,891 $ 2,334,759
Liabilities
Due to Others $ 2,153,697 $ 11,435,146 $ 12,195,282 $ 1,393,561
Due to Other Governmental Units 1,073,864 20,566,943 20,699,609 941,198
Total liabilities $ 3,227,561 $ 32,002,089 $ 32,894,891 $ 2,334,759
Sheriffs General
Assets
Cash and Cash Equivalents $ 712,998 $ 1,777,080 $ 1,514,054 $ 976,024
Accounts Receivable 37 1,958 37 1,958
Total assets $ 713,035 $ 1,779,038 $ 1,514,091 $ 977,982
Liabilities
Due to Others $ 687,057 $ 1,570,010 $ 1,304,515 $ 952,552
Due to Other Governmental Units 25,978 284,068 284,616 25,430
Total liabilities $ 713,035 $ 1,854,078 $ 1,589,131 $ 977,982
Tap and License
Assets
Cash and Cash Equivalents $ 151,977 $ 13,444,953 $ 13,441,202 $ 155,728
Accounts Receivable 3,465 - 1,151 2,314
Total assets $ 155,442 $ 13,444,953 $ 13,442,353 $ 158,042
Liabilities
Due to Others $ 696 $ 26,371 $ 25,404 $ 1,663
Due to Other Governmental Units 154,746 13,418,582 13,416,949 156,379
Total liabilities $ 155,442 $ 13,444,953 $ 13,442,353 $ 158,042
Property Tax
Assets
Cash and Cash Equivalents $ 2,551,627 $ 281,499,383 $ 281,641,615 $ 2,409,395
Accounts Receivable 55 1,545 1,540 60
Total assets $ 2,551,682 $ 281,500,928 $ 281,643,155 $ 2,409,455
Liabilities
Due to Others $ 107,964 $ 19,404,598 $ 19,492,229 $ 20,333
Due to Other Governmental Units 2,443,718 262,096,330 262,150,926 2,389,122
Total liabilities $ 2,551,682 $ 281,500,928 $ 281,643,155 $ 2,409,455
(Continued)
G-102
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS-CONTINUED
ALL AGENCY FUNDS
10/1/2009 Additions Deductions 9/30/2010
Total All Anencv Funds
Assets
Cash and Cash Equivalents $ 6,639,965 $ 328,710,457 $ 329,479,095 $ 5,871,327
Accounts Receivable 7,755 16,551 15,395 8,911
Total assets $ 6,647,720 $ 328,727,008 $ 329,494,490 $ 5,880,238
Liabilities
Due to Others $ 2,949,414 $ 32,436,125 $ 33,017,430 $ 2,368,109
Due to Other Governmental Units 3,698,306 296,365,923 296,552,100 3,512,129
Total liabilities $ 6,647,720 $ 328,802,048 $ 329,569,530 $ 5,880,238
G-103
STATISTICAL SECTION
(Unaudited)
This part of Monroe County, Florida Government's comprehensive annual financial
report presents detailed information as a context for understanding what the information
in the financial statements, note disclosures, and required supplementary information
says about the County's overall financial health. Statistical schedules differ from financial
statements because they usually cover more than one fiscal year and may present non-
accounting data. These schedules are designed to give the reader insights into the
financial position of Monroe County not readily apparent from the financial statements.
Contents
Financial Trends
These schedules contain trend information to help the reader understand how the
government's financial performance and well-being have changed over time.
Revenue Capacity
These schedules contain information to help the reader assess the government's
most significant local revenue source, the property tax.
Debt Capacity
These schedules present information to help the reader assess the affordability of the
government's current levels of outstanding debt and the government's ability to issue
additional debt in the future.
Demographic and Economic Information
These schedules offer demographic and economic indicators to help the reader
understand the environment within which the government's financial activities take
place.
Operating Information
These schedules contain service and infrastructure data to help the reader
understand how the information in the government's financial report relates to the
services the government provides and the activities it performs.
Sources: Unless otherwise noted, the information in these schedules is derived from the
comprehensive annual financial reports for the relevant year.
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Monroe County, Florida
Governmental Activities Tax Revenues By Source
Last Nine Fiscal Years(1)
(accrual basis of accounting)
Sales Taxes
State Local Local Tourist
Fiscal Property Tourist Sales Development Other
Year Tax Impact Tax Tax Tax Taxes Total
2002 $ 54,584,047 $ 1,972,187 $ 25,232,935 $ 11,799,207 $ 1,128,287 $ 94,716,663
2003 58,170,115 2,078,380 25,760,295 12,395,648 1,233,000 99,637,438
2004 60,113,153 2,280,226 29,241,630 13,653,340 3,044,564 108,332,913
2005 65,213,691 2,319,138 28,604,200 13,924,863 3,546,375 113,608,267
2006 71,978,592 2,337,667 29,097,437 13,658,344 3,567,410 120,639,450
2007 77,370,025 2,470,447 28,849,639 15,427,328 3,126,761 127,244,200
2008 74,581,111 2,774,826 28,455,229 15,006,028 2,055,110 122,872,304
2009 81,181,540 2,567,410 25,936,719 14,962,879 1,141,964 125,790,512
2010 81,685,080 2,820,046 27,042,539 19,658,401 1,292,038 132,498,104
(1)Only nine years are available due to initial GASB 34 implementation in fiscal year 2002.
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Monroe County, Florida
Principal Property Taxpayers
September 30, 2010
2010 2001
Percentage of Percentage of
Taxable Total Taxable Taxable Total Taxable
Assessed Assessed Assessed Assessed
Taxpayer Value Rank Value Value Rank Value
Fla. Keys Electric Co-Op $ 93,486,332 1 0.42% $
Galleon Condo.Assoc. 67,913,147 2 0.30%
BellSouth/Southern Bell 57,715,137 3 0.26% 66,038,260 1 0.66%
Hyatt Vacation Management Co 52,211,530 4 0.23%
City of Key West 48,695,901 5 0.22% -
Windward Point LLC 45,852,135 6 0.21% - -
JLW Key West 1 LLC 34,193,050 7 0.15% - -
SH5 LTD 32,026,702 8 0.14% - -
Cheeca Lodge 30,959,338 9 0.14% 31,629,003 4 0.32%
Bluegreen Resorts Management 30,262,943 10 0,14% - -
Casa Marina - - 51,302,073 2 0.52%
Hilton Resorts& Marina - - 32,128,154 3 0.32%
Pier House - - 25,813,926 5 0.26%
Sheraton Suites - - 23,852,031 6 0.24%
Hawks Cay - - 22,819,263 7 0.23%
Southernmost Beach LP - - 22,526,655 8 0.23%
Holiday Inn of Key West - - 22,105,391 9 0.22%
Reach - - 19,927,612 10 0.20%
$ $493,316,215 2.21% $ 318,142,368 3.20%
Source: Monroe County Property Appraiser
H-13
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H-1 5
Monroe County, Florida
Ratios of General Bonded Debt Outstanding
Last Ten Fiscal Years
Percentage of
Estimated
General Less:Amounts Actual Taxable
Fiscal Obligation Available in Debt Value of Per
Year Bonds Service Fund Total Property Capita
Monroe County does not have any outstanding general bonded debt for years 2001-2010
H-16
Monroe County,Florida
Direct and Overlapping Governmental Activities Debt
As of September 30,2010
Estimated
Estimated Share of
Debt Percentage Overlapping
Governmental Unit Outstanding Applicable Debt
Monroe County does not have any direct and overlapping governmental activities debt
as of September 30,2010.
H-17
Monroe County,Florida
Legal Debt Margin Information
Last Ten Fiscal Years
There are no State laws or County ordinances establishing a legal debt margin for years 2001-2010.
H-18
Monroe County, Florida
Pledged-Revenue Coverage
Governmental Activities
Last Ten Fiscal Years
Sales Tax Revenue Bonds
Fiscal Debt Service
Year Collections Principal Interest Total Coverage
2001 $ 12,719.998 $ 4,127,500 $ 574,555 $ 4,702,055 2.71
2002 12,645,370 4,280,000 419,774 4,699,774 2.69
2003 12,884,890 4,995,000 604,715 5,599,715 2.30
2004 15,039,016 3,387,500 750,952 4,138,452 3.63
2005 14,875,923 1,157,500 640,780 1,798,280 8.27
2006 15,201,005 1,187,500 617,630 1,805,130 8.42
2007 15,200,289 1,222,500 593,880 1,816,380 8.37
2008 15,147,595 2,515,000 1,558,694 4,073,694 3.72
2009 13,702,434 3,857,500 1,728,301 5,585,801 2.45
2010 14,085,030 4,602,589 1,763,389 6,365,978 2,21
Note: Details regarding the County's outstanding debt can be found in the notes to the financial statements.
H-19
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H-25
THIS PAGE INTENTIONALLY LEFT FLANK
COMPLIANCE SECTION
INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL OVER
FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS
BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED
IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
To the Honorable Mayor and Board
of County Commissioners of
Monroe County, Florida:
We have audited the financial statements of the governmental activities, the business-type activities,
each major fund and the aggregate remaining fund information of Monroe County, Florida (the
"County") as of and for the year ended September 30, 2010, which collectively comprise the County's
basic financial statements, and have issued our report thereon dated March 31, 2011. 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.
Internal Control over Financial Reporting
In planning and performing our audit, we considered the County's internal control over financial
reporting as a basis for designing our auditing procedures for the purpose of expressing our opinions
on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the
County's internal control over financial reporting. Accordingly, we do not express an opinion on the
effectiveness of the County's internal control over financial reporting.
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 misstatements on a timely basis. A material weakness is a deficiency, or combination of
deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement
of the County's financial statements will not be prevented, or detected and corrected on a timely basis.
Our consideration of internal control over financial reporting was for the limited purpose described in the
first paragraph of this section and was not designed to identify all deficiencies in internal control over
financial reporting that might be deficiencies, significant deficiencies or material weaknesses. We did
not identify any deficiencies in internal control over financial reporting that we consider to be material
weaknesses, as defined above.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the County's financial statements are free of
material misstatement, we performed tests of its compliance with certain provisions of laws, regulations,
contracts, and grant agreements, noncompliance with which could have a direct and material effect on
the determination of financial statement amounts. However, providing an opinion on compliance with
those provisions was not an objective of our audit and, accordingly, we do not express such an opinion.
1-1
The results of our tests disclosed no instances of noncompliance or other matters that are required to
be reported under Government Auditing Standards.
We noted certain matters that we reported to management of the County in a separate letter dated
March 31, 2011.
This report is intended solely for the information and use of management, the County Mayor and the
Board of County Commissioners of Monroe County, Florida, the State of Florida Office of the Auditor
General, and applicable federal and state agencies and is not intended to be, and should not be used
by anyone other than these specified parties.
CHERRY, BEKAERT & HOLLAND, L.L.P
Orlando, Florida
March 31, 2011
1-2
S A
INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH REQUIREMENTS
THAT COULD HAVE A DIRECT AND MATERIAL EFFECT ON EACH MAJOR FEDERAL
AWARDS PROGRAM AND STATE FINANCIAL ASSISTANCE PROJECT AND ON INTERNAL
CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB A-133 AND
CHAPTER 10.550, RULES OF THE AUDITOR GENERAL
To the Honorable Mayor and Board
of County Commissioners of
Monroe County, Florida:
Compliance
We have audited the compliance of Monroe County, Florida (the !County"), compliance with the types
of compliance requirements described in the U.S. Office of Management and Budget(OMB) Circular A-
133 Compliance Supplement, and the requirements described in the State of Florida Department of
Financial Services' State Projects Compliance Supplement, that could have a direct and material effect
on each of the County's major federal awards programs and state financial assistance projects for the
year ended September 30, 2010, The County's major federal awards programs and state financial
assistance projects are identified in the summary of auditors' results section of the accompanying
Schedule of Findings and Questioned Costs. Compliance with the requirements of laws, regulations,
contracts, and grants applicable to each of its major federal awards programs and state financial
assistance projects is the responsibility of the County's management. Our responsibility is to express
an opinion on the County's compliance based on our audit.
We conducted our audit of compliance in accordance with auditing standards generally accepted in the
United States of America; the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States; OMB Circular A-133, Audits of
States, Local Governments, and Non-Profit Organizations, and Chapter 10.550, Rules of the Auditor
General. Those standards, OMB Circular A-133, and Chapter 10.550, Rules of the Auditor General,
require that we plan and perform the audit to obtain reasonable assurance about whether
noncompliance with the types of compliance requirements referred to above that could have a direct
and material effect on a major federal awards program or state financial assistance project occurred.
An audit includes examining, on a test basis, evidence about the County's compliance with those
requirements and performing such other procedures as we considered necessary in the circumstances.
We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a
legal determination of the County's compliance with those requirements.
In our opinion, the County complied, in all material respects, with the compliance requirements referred
to above that could have a direct and material effect on each of its major federal awards programs and
state financial assistance projects for the year ended September 30, 2010. However, the results of our
auditing procedures disclosed an instance of noncompliance with those requirements, which is required
to be reported in accordance with Chapter 10.550, Rules of the Auditor General, and which is described
in the accompanying schedule of findings and questioned costs as item 10-01.
1-3
Internal Control over Compliance
The management of the County is responsible for establishing and maintaining effective internal control
over compliance with the requirements of laws, regulations, contracts, and grants applicable to federal
awards programs and state financial assistance projects. In planning and performing our audit, we
considered the County's internal control over compliance with the requirements that could have a direct
and material effect on a major federal awards program or state financial assistance project in order to
determine the auditing procedures for the purpose of expressing our opinion on compliance and to test
and report on internal control over compliance in accordance with OMB Circular A-133 and Chapter
10.550, Rules of the Auditor General, but not for the purpose of expressing an opinion on the
effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the
effectiveness of the County's internal control over compliance.
A deficiency in internal control over compliance exists when the design or operation of a control over
compliance does not allow management or employees, in the normal course of performing their
assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance
requirement of a federal awards program or state financial assistance project on a timely basis. A
material weakness in internal control over compliance is a deficiency, or a combination of deficiencies,
in internal control over compliance, such that there is a reasonable possibility that material
noncompliance with a type of compliance requirement of a federal program or state financial assistance
projects will not be prevented, or detected and corrected, on a timely basis.
Our consideration of internal control over compliance was for the limited purpose described in the first
paragraph of this section and was not designed to identify all deficiencies in internal control over
compliance that we consider to be deficiencies, significant deficiencies or material weaknesses. We did
not identify any deficiencies in internal control over compliance that we consider to be material
weaknesses, as defined above.
The County's response to the finding identified in our audit is described in the accompanying schedule
of finding and questioned costs. We did not audit the County's response and, accordingly, we express
no opinion on the response.
This report is intended solely for the information and use of management, others within the entity, the
County Mayor and the Board of County Commissioners of Monroe County, Florida, the State of Florida
Office of the Auditor General, and applicable state and federal agencies, and is not intended to be and
should not be used by anyone other than these specified parties.
CHERRY, BEKAERT & HOLLAND, L.L.P.
Orlando, Florida
March 31, 2011
1-4
Monroe County, Florida
Schedule Expenditures of Federal Awards
and State Financial Assistance Projects
For the Year Ended September 30, 2010
Federal/State Agency,
Pass-through Entity CFDA
Federal Program/State Proiect Number
Department of Agriculture:
Passed through Florida Department of Elder Affairs and Alliance for Aging:
ARRA NSIP -2009 10.570
ARRA NSIP -2010 10.570
NSIP-2010 10.570
Total Federal Agency
Department of Health and Human Services:
Passed through Florida Department of Elder Affairs and Alliance for Aging:
Title IIIB Support Services-2009 93.044
Title I I IB Support Services-2010 93.044
Total Program
Title IIIC-1 Congregate Meals-2009 93.045
Title IIIC-2 Home Delivered Meals-2009 93.045
Title I I IC-1 Congregate Meals-2010 93.045
Title I I IC-2 Home Delivered Meals-2010 93.045
Total Program
Title I I I-E In-Home Services-2009 93.052
Title III-E In-Home Services-2010 93.052
Total Program
ARRA OAA Title III C1 Congregate Meals 93,707
ARRA OAA Title III C2 Home Delivered Meals 93.705
Passed through Florida Department of Revenue, Agency for Children and Families,
Office of Child Support Enforcement:
Child Support Enforcement Title IV-D 93.563
Passed through Florida Department of Community Affairs:
Low Income Home Energy Assistance Program -2009 93-568
Low Income Home Energy Assistance Program -2010 93.568
Total Federal Agency
Department of the Interior:
US Fish and Wildlife Services:
Passed through Florida Department of Environmental Protection:
Clean Vessel Act Grant Program 15.616
Total Federal Agency
The accompanying notes are an integral part of this schedule.
1-5
Contract Grant Number Expenditures
US951 148
US1051 4,114
US1051 28,923
33,185
AA929 22,635
AA1029 82,172
104,807
AA929 35,848
AA929 59,336
AM 029 86,017
AM 029 158,124
339,325
AA929 25,176
AM 029 53,420
78,596
ARRA-929 24,254
ARRA-929 25,783
CD344 137,329
09EA-7K-11-54-01-019 104,329
10EA-8F-11-54-01-019 223,657
1,038,080
LE655 for CVA08-498 15,693
15,693
(Continued)
1-6
Monroe County, Florida
Schedule Expenditures of Federal Awards
and State Financial Assistance Projects
For the Year Ended September 30, 2010
Federal/State Agency,
Pass-through Entity CFDA
Federal Program/State Proiect Number
Department of Justice:
Direct Program:
Bureau of Justice Assistance:
Bulletproof Vest Partnership Grant 16.607
Monroe County Sheriff Office Trained &Accountable Program 16.738
LLEBG Juvenile Drug Court 16.738
Total Program
ARRA-Recovery Act JAG Program 16.804
Passed through Office of the Attorney General:
Victims of Crime Acts 16.575
Passed through Florida Department of Law Enforcement:
Edward Byrne Memorial Justice Assist. Grant-Youth Challenge Middle Sch. Prog. V 16.738
Edward Byrne Memorial Justice Assistance Grant- Preventing Recidivism 16.738
Edward Byrne Memorial Justice Assistance Grant- Drug Court Program Urine Lab 16.738
Edward Byrne Memorial Justice Assistance Grant-Women in Transition 16.738
Total Program
Residential Substance Abuse Treatment- MC Jail Incarceration Program 16.593
Residential Substance Abuse Treatment- MC Jail Incarceration Program 16.593
Total Program
ARRA-Law Enforcement Equipment Upgrade 16.803
ARRA-Law Enforcement Technology/Equipment Purchase 16.803
ARRA-Mortgage Fraud Prevention and Protection Program 16,803
ARRA-Offender Re-Entry Employment Readiness Program 16.803
Total Federal Agency
Executive Office of the President:
Direct Program:
High Intensity Drug Trafficking Areas G10M10001A
High Intensity Drug Trafficking Areas G10M10005A
High Intensity Drug Trafficking Areas G10PR0001A
High Intensity Drug Trafficking Areas G09MI0001A
High Intensity Drug Trafficking Areas G09MI0005A
High Intensity Drug Trafficking Areas G09PR0001A
High Intensity Drug Trafficking Areas 15PMIP598Z
High Intensity Drug Trafficking Areas 16PMIP598Z
The accompanying notes are an integral part of this schedule.
1-7
Contract Grant Number Expenditures
-- 15,269
2009-DJ-BX-0770 23,972
2007-DJ-BX-1158 23,792
47,764
2009-SB-B9-0468 76,552
09231 225,258
2010-JAGC-MONR-2-4X-046 41,723
2010-JAGC-MOLAR-3-4X-119 32,725
2010-JAGC-MONR-4-4X-113 46,284
2010-JAGC-MONK-1-4X-112 21,700
142,432
2010-RSAT-MONR-I-W9-005 50,000
2011-RSAT-MONR-I-A9-004 326
50,326
2009-SU-B9-0021/2010-ARRC-MONR-7-W7-093 56,158
2009-5 U-B9-0021/2010-ARRC-MON R-6-W 7-094 193,841
2009-SU-B9-0021/2010-ARRC-MONR-5-W7-157 60,953
2009-SU-B9-0021/2010-ARRC-MONR-4-W7-012 44,900
913,453
G10M10001A 3,553,643
G10M 10005A 785,382
G10PR0001A 2,595,697
G09MI0001 A 5,684,504
G09MI0005A 805,422
G09PR0001A 3,891,708
15PMIP598Z 1,823
16PMIP598Z 3,796
(Continued)
1-8
Monroe County, Florida
Schedule Expenditures of Federal Awards
and State Financial Assistance Projects
For the Year Ended September 30, 2010
Federal/State Agency,
Pass-through Entity CFDA
Federal Proaram/State Project Number
Executive Office of the President Continued:
High Intensity Drug Trafficking Areas 16PMIP586Z
High Intensity Drug Trafficking Areas 16PMIP598Z
High Intensity Drug Trafficking Areas 16PPRP578Z
High Intensity Drug Trafficking Areas 17PMIP586Z
High Intensity Drug Trafficking Areas 17PMIP598Z
High Intensity Drug Trafficking Areas 17PPRP578Z
High Intensity Drug Trafficking Areas 18PMIP586Z
High Intensity Drug Trafficking Areas 18PMIP598Z
High Intensity Drug Trafficking Areas 18PPRP578Z
High Intensity Drug Trafficking Areas 18PMIP5980
High Intensity Drug Trafficking Areas 18PMIP5981
Total Federal Agency
Department of Transportation:
Direct Program:
Federal Aviation Administration:
Key West AIP-3733 20.106
Key West AIP-3735 20.106
Key West AIP-3736 20.106
Key West AIP-3737 20.106
Key West AIP-3739 20.106
Key West AIP-3741 20.106
Marathon AIP-4426 20.106
Marathon AIP-4427 20.106
Marathon AIP-4428 20,106
Total Federal Agency
Federal Highway Administration:
Passed through Florida Department of Transportation:
Transportation Planning Program 07 -09 20.205
ARRA-Geiger Creek Bridge Repair Project 20.205
ARRA-Palm Drive Bridge Repair Project 20.205
Total Federal Agency
The accompanying notes are an integral part of this schedule.
1-9
Contract Grant Number Expenditures
16PMIP586Z 54,812
16PMIP598Z 10,538
16PPRP578Z 118,410
17PM IP586Z 1,178,924
17PMIP598Z 186,100
17PPRP578Z 536,607
18PMIP586Z 208,026
18PMIP598Z 107,192
18PPRP578Z 190,295
18PMIP5980 317,731
18PMIP5981 78,880
20,309,490
3-12-0037-033-2007 32,785
3-12-0037-035-2008 2,039,488
3-12-0037-036-2008 884,896
3-12-0037-037-2008 81,293
3-12-0037-039-2009 8,100
3-12-0037-041-2009 1,620,667
3-12-0044-026-2009 7,621
3-12-0044-027-2009 237,554
3-12-0044-028-2010 7,410
4,919,814
8887-370 122,460
426355-1-58-011APN75 649,287
426182-1-58-011APL06 136,053
907,800
(Continued)
1-10
Monroe County, Florida
Schedule Expenditures of Federal Awards
and State Financial Assistance Projects
For the Year Ended September 30, 2010
Federal/State Agency,
Pass-through Entity CFDA
Federal Program/State Proiect Number
Department of Homeland Security:
Passed through Florida Department of Community Affairs:
Public Assistance Programs:
Hurricane Wilma-FEMA-DR-1609-FL 97.036
Passed through Florida Division of Emergency Management:
Tropical Storm Fay- FEMA-EM-1785-DR 97.036
Total Program
Severe Repetitive Loss Grant 97.110
Hazard Mitigation Grant-Marathon Airport Passenger Trmnl Bldg FEMA 1609-107-R 97.039
Hazard Mitigation Grant-Mthn Garage Overhead Door Wind Retrofit FEMA 1609-148-R 97.039
Hazard Mitigation Grant-Detention Ctr Overhead Door Wind Retrofit FEMA 1609-136-R 97.039
Hazard Mitigation Grant-Mthn Emergency Ops Center Wind Retrofit FEMA 1609-153-R 97.039
Total Program
Emergency Management Performance Grant 97.042
Emergency Management Performance Grant 97.042
Total Program
Homeland Security-2008 97.067
Passed through the City of Miami:
Urban Area Security Initiative Grant Program -2007 97.067
Urban Area Security Initiative Grant Program-2008 97.067
Total Program
Direct Program:
Staffing for Adequate Fire & Emergency Response (SAFER) 97.044
Transportation Security Administration:
Law Enforcement Officer Reimbursement Agreement 97.090
Total Federal Agency
Environmental Protection Agency:
Capitalization Grants for State Revolving Funds 66.458
Department of Energy:
Passed through Florida Department of Community Affairs:
ARRA-Weatherization Assistance Program 81.402
ARRA-Weatherization Assistance Program 81.402
Total Federal Agency
The accompanying notes are an integral part of this schedule.
1-11
Contract Grant Number Expenditures
06-WL-&K-11-54-01-558 580,577
08-FA-B9-11-54-00-546 263
580,840
10SR-47-11-54-01-030 23,274
09HM-37-11-54-01-002 21,985
09HM-37-11-54-01-039 201
09HM-37-11-54-01-015 465
08EC-30-11-54-01-039 60,478
83,129
10-BG-25-11-54-01-122 18,302
11-FG-7W-1 1-54-01-063 15,029
33,331
08-DS-60-11-54-01-343 53,555
09-DS-24-11-23-02-011 157,525
10-DS-48-11-23-02-195 302,120
513,200
EMW-2007-FF-01214 624,203
HSTS0208HS LR360 61,232
1,919,209
CS 120001-090 14,470,306
10WX-7X-11-54-01-319 40,306
10WX-7X-11-54-01-719 81,128
121,434
(Continued)
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Monroe County, Florida
Schedule Expenditures of Federal Awards
and State Financial Assistance Projects
For the Year Ended September 30, 2010
Federal/State Agency,
Pass-through Entity CFDA
Federal Proaram/State Project Number
Institute of Museum and Library Services:
Passed through Florida Department of State, Division of Library and Information Services:
Library Services and Technology Act Grant 45.310
Department of Housing and Urban Development:
Passed through Florida Department of Community Affairs:
Community Development Block Grant 14.228
Passed throught Florida Department of Children and Families:
Homeless Prevention and Rapid Rehousing Grant 14.257
Total Federal Agency
United States Treasury Department:
Equitable Sharing Agreement 21.000
Total Expenditures of Federal Awards
The accompanying notes are an integral part of this schedule.
1-13
Contract Grant Number Expenditures
09-LSTA-E-04 9,931
10DB-K4-11-54-02-K24 44,284
KFZ28 251,353
295,637
-- 351,346
$ 45,305,378
(Continued)
1-14
Monroe County, Florida
Schedule Expenditures of Federal Awards
and State Financial Assistance Projects
For the Year Ended September 30, 2010
CSFA
State Agency Number
Florida Department of Community Affairs:
Division of Emergency Management:
Emergency Management Programs 52.008
Marathon Emergency Operations Center 52.010
Deep Water Horizon --
Total Department
Florida Department of Children and Families:
Community Care for Disabled Adults-2009 60.008
Community Care for Disabled Adults-2010 60-008
Total Department
Florida Department of Elder Affairs:
Passed through The Alliance for Aging:
Home Care for the Elderly-2009 65.001
Home Care for the Elderly-2010 65.001
Total Program
Alzheimer's Disease Initiative-2009 65.004
Alzheimer's Disease Initiative-2010 65.004
Total Program
Community Care for Elderly-2009 65.010
Community Care for Elderly-2010 65.010
Total Program
Total Department
Florida Department of Environmental Protection:
Small County Recycling 37.012
Statewide Surface Water Restoration &Wastewater Projects 37.039
Total Department
Florida Department of Health:
EMS County Award -2008 64.005
EMS County Award-2009 64.005
Total Program
EMS Matching Grant
Total Department
Florida Department of Juvenile Justice:
Intensive Delinquency Diversion Service 80.022
Information provided for state financial assistance but not required for federal awards.
The accompanying notes are an integral part of this schedule,
1-15
Transfer To
Contract Grant Number Expenditures Subrecipients*
10-BG-25-11-54-01-122 $ 102,724 --
08-EC-30-11-54-01-039 221,256 --
-- 399,930 --
723,910 --
KG061 48,398 --
KG065 14,317 —
62,715 --
KH972 39,084 --
KH1070 10,693 --
49,777 --
KZ997 50,749 --
KZ1097 10,686 --
61,435 --
KC971 434,883 --
KC1071 122,894 --
557,777 --
668,989 --
78,787 --
LP6803 860,711
939,498 --
C7044 4,497 --
C8044 52,715 --
57,212 --
M9088 82,307 --
139,519 --
X1431 86,432 --
(Continued)
1-16
Monroe County, Florida
Schedule Expenditures of Federal Awards
and State Financial Assistance Projects
For the Year Ended September 30, 2010
CSFA
State Agency Number
Florida Department of State:
State Aid to Libraries -2008 45.030
State Aid to Libraries-2009 45.030
State Aid to Libraries-2010 45.030
Total Department
Florida Department of Transportation:
Transportation Planning Program 07-09 55.023
Pigeon Key Ferry Service 55.023
State Highway Project Reimbursement 55.023
Total Program
Key West Airport 55.004
Key West Airport 55.004
Key West Airport 55.004
Key West& Marathon Airport 55.004
Key West& Marathon Airport 55.004
Marathon Airport 55.004
Total Program
Total Department
Florida Fish &Wildlife Conservation Commission:
Boating Improvement Fund 77.006
Sunset Point Park Boat Ramp 77.006
Total Program
Exotic Plant Control Services --
Total Department
Florida Housing Finance Corporation:
State Housing Initiative Program 52.901
State Housing Initiative Program 52.901
State Housing Initiative Program 52.901
Impact Fee Previso 52.901
Total Department
Total Expenditures of State Financial Assistance
Information provided for state financial assistance but not required for federal awards.
The accompanying notes are an integral part of this schedule.
1-17
Transfer To
Contract Grant Number Expenditures Subrecipients*
08- T-38 124 --
09-ST-37 71,290 --
10-ST-37 27,865 --
99,279 --
25222811407/AOU27 20,410 --
41454515801/AOQ11 282,371 --
25207711401/AN-082 56,818 --
359,599 --
41253519401/ANJ94 53,671 --
41265919401/ANU96 171,276 —
4245819401/APT62 178,724 --
25426919401/AO194 52,496 -_
25426919402/AK043 8,296 --
42043719401/APG44 120,334 --
584,797 --
944,396 --
-- 306,413 --
08071 20,091 326,504 --
08150 173,766 --
500,270 --
SHIP 07-08 PLAN 6 YR 1 40,000 --
SHIP 08-09 PLAN 6 YR 2 71,598 --
SHIP 09-10 PLAN 6 YR 3 41,227 --
-- 2,000,000 --
2,152,825 --
$ 6,317,833 $ --
1-18
Monroe County, Florida
Notes to Schedule of Expenditures of Federal Awards and
State Financial Assistance Projects
For the Year Ended September 30, 2010
Note 1 —Reporting Entity
For reporting entity purposes, the Schedule of Federal Awards and State Financial
Assistance Projects (the "Schedule") presents the Federal and State grant activity of
Monroe County, Florida (the "County") primary government and its blended component
unit.
Note 2—Summary of Significant Accounting Policies
The accounting policies and presentation of the Schedule of Expenditures of Federal
Awards and State Financial Assistance Projects are presented on the modified accrual
basis of accounting and in accordance with accounting principles generally accepted in
the United States of America as applicable to governmental organizations. The
information in this schedule is presented in accordance with the requirements of OMB
Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations and
the Florida Single Audit Act. Therefore, some amounts presented in this schedule may
differ from amounts presented in, or used in the preparation of the basic financial
statements.
1-19
MONROE COUNTY, FLORIDA
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS
For the Year Ended September 30, 2010
PART I - SUMMARY OF AUDITORS' RESULTS
1. The Independent Auditors' Report on the financial statements expresses unqualified opinions.
2. No significant deficiencies relating to the audit of the financial statements are reported in the
Independent Auditors' Report on Internal Control over Financial Reporting and on Compliance
and Other Matters Based on an Audit of Financial Statements in Accordance with Government
Auditing Standards.
3. No instances of noncompliance material to the financial statements of the County were disclosed
during the audit.
4. No significant deficiencies relating to the audit of major federal awards programs or state financial
assistance projects are reported in the Independent Auditors' Report on Compliance With
Requirements That Could Have a Direct and Material Effect on Each Major Federal Awards
Program and State Financial Assistance Project and on Internal Control Over Compliance in
Accordance with OMB Circular A-1 33 and Chapter 10.550, Rules of the Auditor General.
5. The Independent Auditors' Report on Compliance With Requirements That Could Have a Direct
and Material Effect on Each Major Federal Awards Program and State Financial Assistance
Project and on Internal Control Over Compliance in Accordance with OMB Circular A-133 and
Chapter 10.550, Rules of the Auditor General expressed an unqualified opinion.
6. No audit findings relative to major federal awards programs for the County are reported in this
Schedule.
7. One audit finding relative to major state financial assistance projects for the County is reported in
this Schedule.
8. The threshold for distinguishing Type A and Type B programs/projects was $1,359,161 for major
federal awards programs and $300,000 for major state financial assistance projects.
9. The County qualified as a low-risk auditee for federal Single Audit purposes, as that term is
defined in OMB Circular A-1 33.
lo. The programs/projects tested as major programs/projects included the following:
Federal Programs Federal CFDA No.
High Intensity Drug Trafficking Areas 08XXX
Capitalization Grants for State Revolving Funds 66.458
Federal Aviation Administration 20.106
1-20
MONROE COUNTY, FLORIDA
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS
For the Year Ended September 30, 2010
PART 1 - SUMMARY OF AUDITORS' RESULTS (CONTINUED)
State Projects State CSFA No.
State Housing Initiative Program 52.901
Boating Improvement Program 77.006
Transportation Planning Program 07-09 55.023
Exotic Plant Control Services n/a
Deepwater Horizon n/a
PART 11 - FINDINGS—FINANCIAL STATEMENTS
None noted.
PART lil - FINDINGS AND QUESTIONED COSTS—MAJOR FEDERAL AWARDS PROGRAMS
None noted.
PART IV- FINDINGS AND QUESTIONED COSTS — MAJOR STATE FINANCIAL ASSISTANCE
PROJECTS
Florida Department of Environmental Protection, Division of Emergency Management
Program Name: Deepwater Horizon
CSFA#n/a
Finding 10-01
NONMATERIAL NON-COMPLIANCE
Criteria: According to the Florida Department of Emergency Management's (DEM) Memorandum of
Understanding with Monroe County Tourist Development Council (TDC) dated June 29, 2010, the
Monroe County Tourist Development Council shall track all expenditures and provide such
documentation to DEM, including proof of payment, by August 31, 2010.
Condition: The final close-out report was submitted on September 29, 2010.
Questioned Cost: N/A
Effect: Deepwater Horizon expenditures, supporting documentation and proof of payment was not
submitted timely.
1-21
MONROE COUNTY, FLORIDA
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS
For the Year Ended September 30, 2010
Cause: The final close-out report was not submitted timely due to the confusion of the parties involved
as to who was responsible for submission of the report.
Recommendation: We recommend that internal controls be put in place to ensure that reports are
prepared and filed in a timely manner.
Management Response: If additional State of Florida funding is awarded to the TDC, the Director of
the TDC will receive all correspondence from all parties involved to ensure that all deadlines are met.
1-22
MONROE COUNTY, FLORIDA
SUMMARY SCHEDULE OF CORRECTIVE ACTION PLAN
FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS
For the Year Ended September 30, 2010
Finding 10-01
Name of Person: Harold D. Wheeler, Director of TDC
Corrective Action Plan: If additional State of Florida funding is awarded to the TDC, the Director of the
TDC will receive all correspondence from all parties involved to ensure that all deadlines are met.
Proposed Completion Date: January 11, 2011
1-23
MONROE COUNTY, FLORIDA
SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS
FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS
For the Year Ended September 30, 2010
There were no Single Audit findings for the year ended September 30, 2009.
1-24
A C
L CON.WFIANTS
INDEPENDENT AUDITORS' MANAGEMENT LETTER
To the Honorable Mayor and Board
of County Commissioners of
Monroe County, Florida:
We have audited the financial statements of the governmental activities, the business-type
activities, each major fund, and the aggregate remaining fund information of Monroe County,
Florida (the "County"), as of and for the year ended September 30, 2010, and have issued our
report thereon dated March 31, 2011.
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; and OMB Circular
A-1 33, Audits of States, Local Governments, and Non-Profit Organizations. We have issued our
Independent Auditors' Report on Internal Control over Financial Reporting and on Compliance
and Other Matters, Independent Auditors' Report on Compliance with Requirements that Could
Have a Direct and Material Effect on each Major Federal Program and State Financial
Assistance Projects and on Internal Control over Compliance, and Schedule of Findings and
Questioned Costs. Disclosures in those reports and schedule, which are dated March 31, 2011,
should be considered in conjunction with this management letter.
Additionally, our audit was conducted in accordance with Chapter 10.550, Rules of the Auditor
General, which govern the conduct of local government entity audits performed in the State of
Florida. This letter includes the following information, which is not included in the
aforementioned auditors' reports or schedule.
Section 10.554(1)(i)l., Rules of the Auditor General, requires that we determine whether or not
corrective actions have been taken to address significant findings and recommendations made
in the preceding annual financial audit report. There were no recommendations made in the
preceding annual financial audit report.
Section 10.554(1)(i)2,, Rules of the Auditor General, requires our audit to include a review of the
provisions of Section 218,145, Florida Statutes, regarding the investment of public funds. In
connection with our audit, nothing came to our attention that could cause us to believe that the
County was in noncompliance with Section 218.415 regarding the investment of public funds.
Section 10.554(1)(i)3., Rules of the Auditor General, requires that we address in the
management letter any recommendations to improve the County's financial management. In
connection with our audit, we did not have any such recommendations,
J-1
Section 10.554(1Xi)(4., Rules of the Auditor General, requires that we address violations of
provisions of contracts and grant agreements or abuse, that have an effect on the financial
statements that is less than material but more than inconsequential. In connection with our
audit, we did not have any such findings.
Section 10,554(1)(i)5., Rules of the Auditor General, provides that the auditor may, based on
professional judgment, report the following matters that have an inconsequential effect on
financial statements, considering both quantitative and qualitative factors: (1) violations of
provisions of contracts or grant agreements, fraud, illegal acts, or abuse, and (2) control
deficiencies that are not significant deficiencies. In connection with our audit, we did not have
any such findings.
Section 10.554(1)(i)6., 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 the management letter, unless disclosed in the notes to the financial statements.
The County was established by Laws of Florida 71-616. The County has disclosed each
component unit in the notes to the financial statements.
Section 10.554(1 Xi)7.a., Rules of the Auditor General, requires a statement be included as to
whether or not the local governmental entity has met one or more of the conditions described in
Section 218.503(1), Florida Statutes, and identification of the specific condition(s) met. In
connection with our audit of the financial statements of the County, the results of our tests did
not indicate the County met any of the specified conditions of a financial emergency contained
in Section 218.503(1). However, our audit does not provide a legal determination of the
County's compliance with this requirement.
Section 10.554(1)(i)7.b., Rules of the Auditor General, requires that we determine whether the
annual financial report for the County for the fiscal year ended September 30, 2010, filed with
the Florida Department of Financial Services pursuant to Section 218.32(1)(a), Florida Statutes,
is in agreement with the annual financial audit report for the fiscal year ended September 30,
2010. Our comparison of the financial report filed with the Florida Department of the Financial
Services to the County's 2010 audited financial statements resulted in no material differences.
Pursuant to Sections 10.554(1)(i)7.c. and 10.556(7), Rules of the Auditor General, we applied
financial condition assessment procedures as of September 30, 2010. It is management's
responsibility to monitor the County's financial condition, and our financial condition assessment
was based in part on representations made by management and the review of financial
information provided by same.
Pursuant to Chapter 119, Florida Statutes, this management letter is a public record and its
distribution is not limited. Auditing standards generally accepted in the United States of America
require us to indicate that this letter is intended solely for the information and use of
management, the County Mayor and Board of County Commissioners of Monroe County,
Florida, the Florida Auditor General and applicable state and federal agencies, and is not
intended to be and should not be used by anyone other than those specified parties.
CHERRY, BEKAERT & HOLLAND, L.L.P.
Orlando, Florida
March 31, 2011
J-2