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Fiscal Year 2003 MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2003 i DANNY L. KOLHAGE CLERK OF THE CIRCUIT COURT PREPARED BY: CLERK OF THE CIRCUIT COURT FINANCE DEPARTMENT SANDRA CARLILE FINANCE DIRECTOR MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS DIXIE SPEHAR, MAYOR DISTRICT 1 CHARLES "SONNY" MCCOY DAVID P. RICE DISTRICT 3 DISTRICT GEORGE NEUGENT MURRAY NELSON DISTRICT 2 DISTRICT 5 COUNTY ADMINISTRATOR JAMES ROBERTS CLERK OF THE CIRCUIT COURT AND CHIEF FINANCIAL OFFICER DANNY L. KOLHAGE MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2003 INTRODUCTORY SECTION PAGE Transmittal Letter of the Clerk of the Circuit Court Al —A5 Certificate of Achievement for Excellence in Financial Reporting A6 Organizational Chart A7 FINANCIAL SECTION Independent Auditors' Report 61 — 62 Management's Discussion and Analysis C1 —C11 Basic Financial Statements: Government-Wide Financial Statements: Statement of Net Assets D1 — D2 Statement of Activities D3— D4 Fund Financial Statements: Balance Sheet-Governmental Funds E1 — 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— E12 Fine and Forfeiture Fund E13 — E14 Road and Bridge Fund E15— E16 Governmental Grants Fund E17— E20 HIDTA Grants Fund E21 Statement of Net Assets— Proprietary Funds E22— E25 Statement of Revenues, Expenses and Changes in Fund Net Assets — Proprietary Funds E26— E27 Statement of Cash Flows— Proprietary Funds E28— E31 Statement of Fiduciary Net Assets— Fiduciary Funds E32 Statement of Changes in Fiduciary Net Assets— Fiduciary Funds E33 Notes to the Financial Statements F1 — F31 MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2003 PAGE Schedule of Revenues, Expenditures and Changes in Fund Balances- Budget and Actual Major Governmental Funds: One Cent Infrastructure Surtax Capital Project Fund G1 -G2 Infrastructure Sales Surtax Revenue Bonds, Series 2003 Capital Projects Fund G3 Combining and Individual Fund Statements and Schedules: Combining Balance Sheet-Non-Major Governmental Funds H-1 -H12 Combining Statement of Revenues, Expenditures and Changes in Fund Balance.- Non-Major Governmental Funds H13 Schedules of Revenues, Expenditures and Changes in Fund Balances- Budget and Actual Special Revenue Funds- Affordable Housing Programs H25 Law Library H26 Tourist Development, All Districts, Two Cent H27 'Tourist Development, Administrative and Promotional, Two Cent H28 Tourist Development, District One, Three Cent H29 Tourist Development, District#Two, Three Cent H30 Tourist Development, District#Three, Three Cent H31 Tourist Development, District#Four, Three Cent H32 Tourist Development, District#Five, Three Cent H33 Impact Fees-Roadways H34 Impact Fees- Parks and Recreation H35 Impact Fees-Libraries H36 Impact Fees- Solid Waste H37 Impact Fees- Police Facilities H38 Impact Fees- Fire and EMS H39 it and Ambulance, District#1 -Lower and Middle Keys H40 Upper Keys Health Care Special Taxing District H41 it and Ambulance, District#6-Key Largo H42 Unincorporated Area Service District- Parks and Recreation H43 Unincorporated Area Service District-®Planning, Building and Zoning H44- H45 Municipal Policing H46 911 Enhancement Fees H47 Duck Key Security District H48 Local Housing Assistance H49 Boating Improvement H50 Miscellaneous H51 -H52 Environmental Restoration H53 Law Enforcement Trust H54 Court Facility Fees H55 Drug Abuse Test H56 Comprehensive Plan Land Authority H57 Inmate Commissary H58 Sheriffs Impact Support H59 Sheriff's Off-Duty H60 Sheriff's Grants H61 MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2003 PAGE Schedules of Revenues, Expenditures and Changes in Fund Balances — Budget and Actual Special Revenue Funds: (continued) Sheriffs Teen Court H62 Sheriffs South Florida Law Enforcement Trust H63 Sheriffs Federal Asset Sharing Program H64 Sheriffs Federal Forfeiture H65 Sheriffs HIDTA Administration H66 Sheriffs Airport Services H67 Sheriffs Law Enforcement Trust H68 Sheriffs Fine and Forfeiture H69 Sheriffs Key West School Crossing Guard H70 Debt Service Funds: 1993 Refunding Improvement Bonds 1988 H71 1991 Sales Tax Revenue Refunding Bonds+ H72 Clerk's Revenue Note H73 Infrastructure Sales Surtax Revenue Bonds, Series 2003 H74 Capital Projects Funds: 1991 Sales Tax Bond Capital Improvements H75 Clerk's Revenue Note H76 Combining Statement of Net Assets — Internal Service Funds H77— H78 Combining Statement of Revenues, Expenses and Changes in Fund Net Assets — Internal Service Funds H79— H80 Combining Statement of Cash Flows— Internal Service Funds H81 — H84 Combining Statement of Fiduciary Assets and Liabilities —Agency Funds H85 Combining Statement of Changes in Fiduciary Assets and Liabilities — Agency Funds H86-H87 STATISTICAL SECTION - UNAUDITED Fund Information: Government-Wide Expenses by Function 11 Government-Wide Revenues 11 General Government Expenditures by Function 12— 13 General Government Revenues by Source 14— 15 Property Tax Levies and Collections 16 Assessed and Estimated Actual Value of Taxable Property 17 Property Value, Construction and Bank Deposits 18 Property Tax Rates — Direct and Overlapping Governments 19 Principal Taxpayers 110 Ratio of Net General Bonded Debt to Assessed Value and Net Bonded Debt Per Capita 111 Computation of Direct Underlying and Overlapping Debt 112 Ratio of Annual Debt Service Expenditures for General Bonded Debt to General Government Expenditures 113 MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2003 PAGE STATISTICAL SECTION - UNAUDITED (continued) Schedule of Revenue Bond Coverage— Municipal Service District Waste 114 Schedule of Insurance Companies 115 Schedule of Insurance Agencies 116 Salaries and Surety Bonds of Principal Officers 117 Demographic Statistical Data 118 Miscellaneous Statistical Data 119-120 SINGLE AUDIT/GRANTS COMPLIANCE SCHEDULES Independent Auditors' Report on Compliance and on Internal Control over Financial Reporting based on an audit of Financial Statements perfon-ned in accordance with Government Auditing Standards J1-J2 Independent Auditors' Report on Compliance and Internal Control over Compliance Applicable to each Major Federal Awards Program and State Financial Assistance Projects J3-J4 Schedule of Expenditures of Federal Awards and State Financial Assistance J5-J22 Notes to Schedule of Expenditures of Federal Awards and State Financial Assistance J23 Schedule of Findings and Questioned Costs— Federal Awards Programs and State Financial Assistance Projects J24-J25 Summary Schedule of Prior Audit Findings and Corrective Action Plan Federal Programs and State Projects J26 V. a 4 ,'r C" CLERK OF THE CIRCUIT COURT MONROE COUNTY BRANCH OFFICE BRANCH OFFICE PLANTATION KEY MARATHON SUB COURTHOUSE MONROE COUNTY COURTHOUSE GOVERNMENT CENTER 3117 OVERSEAS HIGHWAY 500 WHITEHEAD STREET,SUITE 101 88820 OVERSEAS HIGHWAY MARATHON,FLORIDA 33050 KEY WEST,FLORIDA 33040 PLANTATION KEY,FLORIDA 33070 TEL.(305)289-6027 TEL.(305)292-3550 TEL.(305)852-7145 FAX(305)289-1745 FAX(305)295-3663 FAX(305)852-7146 April 30, 2004 The Honorable Sonny McCoy Mayor, Board of County Commissioners Monroe County, Florida Dear Mayor McCoy: It is our pleasure to present to you, the Board of County Commissioners and the citizens, the Mon- roe County, Florida Comprehensive Annual Financial Report (CAFR) for the fiscal year ended September 30, 2003. This report was prepared by the Finance Department of the Clerk of the Cir- cuit 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 Circuit Court as Chief Financial Officer of Monroe County. 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 County's comprehensive framework of internal controls has been designed to provide reasonable rather than absolute as- surance that the financial statements will be free of material misstatement. We assert that, to the best of our knowledge and belief, this financial report is complete and reli- able in all material aspects. It is presented in a format designed to fairly present the financial posi- tion 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 understanding of the County's financial activity have been included. Chapter 218.39 of the Florida Statutes requires an independent certified public accountant audit the financial statements of counties in the State. This requirement has been met for the fiscal year ended September 30, 2003 and the report of the independent auditors has been included in the fi- nancial section of this report. In addition, the requirements of federal and Florida Single Audit Act requirements and the related federal OMB Circular A-133 have been met. The standards govern- ing single audit engagements require the independent auditor to report on the government's inter- nal controls and compliance with legal requirements with special emphasis placed on the admini- stration of federal awards and state financial assistance. Presentation of the single audit, including schedules of federal awards and state financial assistance, are included in this report. A-1 Governmental accounting and auditing principles require that management provide a narrative in- troduction, overview and analysis to accompany the basic financial statements in the form of Man- agement's Discussion and Analysis (MD&A). This letter of transmittal is designed to complement MD&A and should be read as an accompaniment. Monroe County's MD&A can be found immedi- ately following the independent auditor's report. County Organization Monroe County was constitutionally formed in 1823. It is comprised of a string of subtropical is- lands 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. The Board of County Commissioners is the legislative body for Monroe County. The operation of other specific government functions resides with five Constitutional Officers. The specific func- tions are indicated by their titles. The elected positions are Clerk of the Circuit Court, Property Ap- praiser, Sheriff, Supervisor of Elections, and Tax Collector. Monroe County provides a full range of services including roads, health and social services, emer- gency medical services, park and recreational services, solid waste services, airport services and other governmental services. Monroe County is a non-charter county established under the Con- stitution and the laws of the State of Florida. For financial reporting purposes, the County's report- ing entity consists of (1) the County as primary government, the Board of County Commissioners, the Sheriff, the Clerk of the Circuit Court, the Tax Collector, the Property Appraiser, and the Su- pervisor of Elections, (2) other entities, though legally separate, which are in substance, part of the primary government's operations and for which the primary government is financially accountable (blended component units), the Monroe County Comprehensive Plan Land Authority, and (3) other organizations which are financially accountable to the primary government, or whose relationship with the primary government is such that an exclusion would cause the reporting entity's financial statements to be misleading or incomplete (discrete component units), the Monroe County Hous- ing Finance Authority. Discretely presented component units are reported in a separate column in the combined financial statements to emphasize that they are legally separate from the primary government and to differentiate their financial position, results of operations, and cash flows from those of the primary government. 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. Formal budgetary integration is employed as a management control device during the year for all fund types except as noted in the Notes to the Financial Statements. Monroe County follows the laws of Florida regarding the control, adoption and amendment of the budget during each fiscal year. The County Commission has increased the level of budgetary control as the County Com- mission approves all cost center (departmental) budgetary changes by resolution. As an additional control, the County employs an encumbrance system which reduces available appropriations in governmental funds upon the issuance of purchase orders, contracts or other forms of legal commitment. Encumbrances at year end do not constitute expenditures or liabilities. They are accounted for as a reservation of fund balance in the year the commitment is made. While appropriations lapse at the end of the fiscal year, the succeeding year's budget resolution provides for the reappropriation of year-end encumbrances. A-2 Budgets for the Property Appraiser and the Tax Collector are approved by the Florida Department of Revenue and are adopted as part of the General Fund by the Board of County Commissioners. The Sheriff, Supervisor of Elections and Clerk of the Circuit Court prepare their budgets which are submitted to and approved by the Board. Local Economy International and domestic tourism remains an important economic factor in Monroe County. The tropical climate together with the recreational water activities makes the Florida Keys and Key West a major tourist area. Further evidence of the importance of the tourist industry is that of the top ten taxpayers in Monroe County, nine are hotels. There are many positive signs that the County's tourism industry has been minimally affected in the wake of increased terrorist activities. One such sign is that the number of airline passengers visiting Key West has increased by 12% over the last two years from 255,850 in 2001 to 286,833 in 2003. The County continues to be impacted by recent municipal incorporations and the related demands for past and future revenues. Nonetheless, the County's revenue sources remain strong as prop- erty values increase and receipts of sales taxes collected from residents and tourists continue to climb. Sales tax revenues have not only recovered from the reduced level of tourism after the 9/11 crisis, but presently exceed 2000 amounts by 10%. Considering the economic downturn experi- enced by the rest of the nation, the County has been fortunate to maintain a strong economic envi- ronment. The County's unemployment rate of 2.1% at September 30, 2003 is well below the state and na- tional rates of 5.1% and 6.0%, respectively. The County has historically enjoyed a strong job market. Local revenues and expenditures are affected by intergovernmental pressures from reduced fed- eral and state aid, lack of funding for federal and state-mandated programs and services, and the increased demands for stronger public safety services. Long-Term Planning The County will continue its work for the year on large numbers of projects funded by a variety of sources. In road and bridge work, it is anticipated that there will be over $9.8 million in capital and non-capital projects completed. This includes roads, bridges, bike paths, and social service trans- portation type services. Roadway impact fees are also programmed for about $6.0 million through the various districts in the Keys. Combined with the road and bridge fund, these funds should serve to make major improvements in roadway and bridge transportation. Parks and Recreation Impact Fees and Library Impact Fees will be used in conjunction with infra- structure sales tax funds to complete smaller projects throughout the County. Libraries will be im- proved and park funds will be applied to improvements at a variety of facilities. Smaller amounts are being set aside from available solid waste impact fees and police facilities impact fees for utilization in those services. Fire and emergency medical service impact fees will be applied to facilities and fire hydrant projects throughout the County. Major capital work will take place under the Fund 304 One Cent Sales Tax Infrastructure program. Funds will be provided toward public building and facilities, human service facilities, cultural and recreation facilities and activities, public safety facilities, and parks and recreation. Notable among these projects which total approximately $31 million are the Jackson Square project, to include the A-3 Freeman Justice Center and the Old Mariner's Hospital in Tavernier, which projects will be utilized to house Constitutional Officer and judiciary functions, State Health Department, County Sheriffs Department and administrative offices. Also, a major initiative is underway for sewering the Keys, including the recent completion of the South Stock Island sewer expansion program. A variety of recreational activities will continue in fiscal year 2004 to include the installation of a new park on Big Pine Key and Big Coppitt, and various projects at Harry Harris Park. In addition to the work that will take place under the One Cent Sales Tax Infrastructure program, the County has proceeded to accelerate work thru the use of bond proceeds. Approximately $21 million has been earmarked toward Public Safety, Human Services, Marathon and Plantation Key courthouse renovations, Medical Examiner facilities, and General Government projects. Most no- table are the five fire stations/emergency medical stations that are proceeding in the next fiscal year. These are just a few of the highlights of the capital programs and various services proposed in the County. As identified above, there should be significant decisions for group benefits. The Board of County Commissioners is interested in expanding parks and recreation facilities throughout the Keys as has been requested by citizens in various areas. The County CommuniKeys planning program, whereby citizens on individual islands will have an opportunity to help determine the fu- ture of those islands, will continue. In summary, the County has an aggressive and ongoing program of capital projects and service delivery which is planned to continue during fiscal year 2004 and farther into the future. The County's debt is comprised primarily of the unpaid balance of the Infrastructure Sales Surtax Revenue Bonds-Series 2003. These bonds were issued to provide funds to acquire, construct, renovate and equip various capital improvements such as fire rescue facilities and courtroom renovations. Cash Management The Finance Department monitors the cash flow needs of the Board of County Commissioners on a daily basis in accordance with the written investment policy. All operating funds in excess of daily cash flow needs are deposited with the Local Government Surplus Funds Trust Fund under the management of the Florida State Board of Administration. This investment opportunity pro- vides the County with extremely liquid funds, which are retrievable from investment within twenty- four hours. The Board of County Commissioners pools cash and cash equivalents of the County, excluding those funds held and accounted for by the separate Constitutional Officers, those requiring or benefiting by separate investment, and those with legal requirements. This gives the County the ability to maximize its yield on the short-term investment of cash, increasing its income accord- ingly. Risk Management The County's assets are protected through the risk management program developed and man- aged by the Risk Management Section of the Human Resources Department. They administer in- surance activities relating to fleet auto liability, general liability, and public official liability. Addition- ally, the County, managed by the Employee Benefit Section, maintains a Worker's Compensation and Group Insurance Internal Service Fund. Under these programs, all County employees, as well A-4 as the employees of the Constitutional Officers, are provided a comprehensive health care plan and term life insurance coverage as well as a worker's compensation program. Funding for these programs is generated by charges to the operating departments based on management's annual estimates of claim loss and operating costs. Awards 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, 2002. This was the fifteenth 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 ef- ficiently organized comprehensive annual financial report. This report must satisfy both U.S. gen- erally 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. Acknowledgments This report is the product of the dedication of the Finance Department under the direction of the Clerk of the Circuit 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 Depart- ment, as well as other County departments, for their assistance in the preparation of this report. In addition, we respectfully extend our thanks and appreciation to our independent auditors Cherry, Bekaert and Holland, L.L.P. for their outstanding efforts and assistance. In closing, we would especially like to thank the County Commissioners for their interest and sup- port throughout the year in matters pertaining to the financial operations of the County. Sincerely, r anny L. hage Sandra Carlile Clerk of the Circuit Court Finance Director and Chief Financial Officer A-5 q Uertificate of Achievement for Excellence a in Financ ial Reporting Presented to Monroe County, Florida For its Comprehensive Annual Financial Report for the Fiscal Year Ended September 30, 2002 A Certificate of Achievement for Excellence in Financial Reporting is presenter)by the Government Finance Officers Association of the'united States and Canada to government units and public employee,retirement systems whose comprehensive annual financial repo C Rs)achieve the highest standards in government accounting and financial reporting, jL President Executive Director A- ra M o u LJ < vi Z 0 LU -,i Ij L> 'I) ro < U) t C: ul ' Ln. HE L < ui W, 'y X.< 27,W LI) rc U.J ru CL X > OL z W 2 a U- c, u < 73 15 ui U) U tij 0 co C) In co ZD 0 21 uj u E Ic') L m w V) F- 0 LP, im LU < of 0) M z cr 0 z LD x U-1 ui Z z 0 o o Z z Lli x ef a M 7 4u z u b CE� V) ui 0 z LL t5 O .0 V) 0 "y U� ru 73 �A 0 r- co Z z < U CL q r m >= �5 n —j UL 0 u o L) C) U) Lu F- cn L cl: Lu B u 0 Li 0 LLJ Qj m CI- "J < ��s 0) LU > m c 0 U4 r- ro E r E is wi Ln W w U a� Of A-7 In 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, 2003, which collectively comprise the County's basic financial statements as listed in the foregoing 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 did not audit the financial statements of the Monroe County Housing Finance Authority. Those financial statements were audited by other auditors whose report thereon has been furnished to us, and our opinion, insofar as it relates to the amounts included for the Monroe County Housing Finance Authority, is based solely on the report of the other auditors. 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 significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinions. As described in Note 6, the County retroactively changed its capitalization thresholds in fiscal 2003. In our opinion, based upon our audit and the report of other auditors, the basic financial statements referred to above present fairly, in all material respects, the financial position of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the County as of September 30, 2003, and the respective changes in financial position and cash flows, where applicable, thereof and the respective budgetary comparison for the General Fund, the Fine and Forfeiture Fund, the Road and Bridge Fund, the Governmental Grants Fund, and the Sheriff's HIDTA Grants 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 26, 2004 on our consideration of the County's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts, and grants. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be read in conjunction with this report in considering the results of our audit. B-1 The management's discussion and analysis section 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 financial statements, supplemental schedules and statistical tables 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 schedules of expenditures of federal awards and state financial assistance 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 are not a required part of the basic financial statements. The combining financial statements and supplementary schedules and the accompanying schedules of expenditures of federal awards and state financial assistance have been subjected to the auditing procedures applied in our audit of the basic financial statements and, in our opinion, are fairly presented in all material respects when considered in relation to the basic financial statements taken as a whole. The introductory section and statistical tables 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. West Palm Beach, Florida March 26, 2004 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, 2003. 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 net assets exceeded its liabilities at September 30, 2003 by $353,588,268, an increase of $5,602,051. Net assets for governmental activities were $296,206,170 and $57,382,098 for business-type activities. • Unrestricted net assets, available for Monroe County's ongoing obligations to citizens and creditors were $173,961,047, an increase of$17,022,937. Governmental activity unrestricted net assets were $153,469,326. Business-type activity unrestricted net assets were $20,491,721. • At September 30, 2003 Monroe County's governmental fund statement reported combined ending fund balances of$174,982,547. Of this amount, $164,887,430 remains in the various fund types of Monroe County as unreserved. • The General Fund reported a fund balance of $19,541,511, a decrease from the last fiscal year of$1,902,899. • Bonded debt and loans of Monroe County increased $12,965,000 in 2003. Monroe County issued $21,455,000 in new revenue bonds to finance future capital projects. The new debt was offset by repayments of$8,490,000 of existing debt. 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, 2003. 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. The Statement of Activities, which follows the Statement of Net Assets, presents information showing how the net assets changed during fiscal year 2003. The statement presents all underlying events, C-1 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. The government-wide financial statements also report the Monroe County Housing Finance Authority, which is considered a legally separate component unit. This financial information is reported separately from the primary government's financial information. 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-21 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 major 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, Road and Bridge, Governmental Grants, and HIDTA Grants, and two capital project funds: One Cent Infrastructure Surtax and Infrastructure Sales Surtax Revenue Bonds, Series 2003. Although there are many smaller governmental funds in Monroe County, they have been presented in a total column "Other Governmental Funds." These non-major funds are presented individually in the combining and individual fund statements section of the report. Proprietary Funds Monroe County maintains two different types of proprietary funds, enterprise and internal service. The proprietary fund statements appear on E-22 through E-31 of this report. C-2 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-32 through E-33 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 The capital project major funds budget to actual statements are on pages G-1 through G-3 of this report. Combining and individual statements and schedules mentioned earlier, which present details of non- major funds used in governmental and enterprise funds, commence on page H-1 and continue throughout the entire H page section. This section also includes the budget to actual schedules, and statements for internal service and agency funds. Additional information about Monroe County can be found under the Statistical Section in the I page section and the Single Audit Section in the J page section of this report. Government-Wide Financial Analysis Monroe County Net Assets (in thousands) Governmental Business-type Total Primary Activities Activities Government 2003 2002 2003 2002 2003 2002 Current and Other Capital Assets $203,620 $ 196,089 $29,037 $ 29,081 $232,657 $225,170 Capital Assets 151,979 144,366 38,629 35,001 190,608 179,367 Total Assets 355,599 340,455 67,666 64,082 423,265 404,537 C-3 Governmental Business-type Total Primary Activities Activities Government 2003 2002 2003 2002 2003 2002 Current and Other Liabilities 29,545 31,915 5,311 4,281 34,856 36,196 Long-Term Liabilities 29,848 13,395 4,973 6,960 34,821 20,355 Total Liabilities 59,393 45,310 10,284 11,241 69,677 56,551 Net Assets: Invested in Capital Assets, Net of Related Debt 142,737 160,574 33,608 27,587 176,345 188,161 Restricted - 882 3,282 2,005 3,282 2,887 Unrestricted 153,469 133,689 20,492 23,249 173,961 156,938 Total Net Assets $296,206 $295,145 $57,382 $ 52,841 $353,588 $347,986 The overall financial position of Monroe County improved in both fiscal years 2003 and 2002. 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 increase in net assets for the fiscal years ending 2003 and 2002 were $6,787,896 and $10,429,248, respectively. The largest portion of net assets for 2003 and 2002 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 50% and 54% of total primary government net assets for fiscal years 2003 and 2002 respectively. 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 reported restrictions are comprised of the landfill closure and post closure costs and the airport's passenger facility charges. 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. Most of the 2003 change in current and other assets arose from an increase in unrestricted cash. Monroe County received more operating grants and contributions and property taxes which helped to offset the decrease in revenues from service charges for law enforcement, capital grants and investment income. These additional revenues more than offset the increase in operating expenses. Monroe County issued $21,455,000 in new revenue bonds, which is the primary source of the increase in liabilities of $13,126,354. The increase in new debt from the bonds was offset by the refunding and scheduled repayments of other long-term debt. Comparison of Current Unrestricted Assets and Liabilities (in thousands) A comparison of current unrestricted assets as compared to current unrestricted liabilities for both governmental and business-type activities can be a good indication of Monroe County's ability to meet C-4 its current and existing operational responsibilities. The ratios for the current and prior fiscal years are as follows: Governmental Business-type Activities Activities 2003 2002 2003 2002 Current Unrestricted Assets $ 197,850 $ 190,113 $ 25,754 $ 23,326 Current Unrestricted Liabilities $ 29,544 $ 31,915 $ 4,951 $ 3,237 Ratio of Current Assets to Current Liabilities 6.70 5.96 5.20 7.21 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 2003 2002 2003 2002 2003 2002 Revenues: Charges for Services $ 26,696 $ 29,484 $ 18,426 $ 18,139 $ 45,122 $ 47,623 Operating Grants and Contributions 23,232 10,132 2,141 2,569 25,373 12,701 Capital Grants and Contributions 3,435 13,079 5,702 2,661 9,137 15,740 General Revenues: Property Taxes 58,170 54,584 - - 58,170 54,584 Other Taxes 41,467 40,133 - - 41,467 40,133 State Revenue Sharing 3,153 3,154 - - 3,153 3,154 Investment Income 2,940 3,849 402 555 3,342 4,404 Miscellaneous 3,083 3,891 58 - 3,141 3,891 Total Revenues 162,176 158,306 26,729 23,924 188,905 182,230 Expenses: General Government 34,521 30,780 - - 34,521 30,780 Public Safety 81,890 73,365 - - 81,890 73,365 Physical Environment 2,954 1,575 - - 2,954 1,575 Transportation 6,504 5,804 - - 6,504 5,804 Economic Environment 14,567 15,427 - - 14,567 15,427 Human Services 8,042 7,958 - - 8,042 7,958 Culture and Recreation 4,271 5,333 - - 4,271 5,333 Court Related 8,181 8,623 - - 8,181 8,623 Interest on Long-Term Debt 845 741 - - 845 741 C-5 Governmental Business-type Total Primary Activities Activities Government 2003 2002 2003 2002 2003 2002 Solid Waste - - 13,205 14,755 13,205 14,755 Toll Bridge - - 971 726 971 726 Key West Airport - - 5,103 5,714 - 5,103 5,714 Marathon Airport - - 1,063 1,000 1,063 1,000 Total Expenses 161,775 149,606 20,342 22,195 182,117 171,801 Increase in Net Assets Before Transfers 401 8,70�0 6,387 1,729 6,788 10,429 Transfers 660 74 (660) 749) - - Changes in Net Assets - 1,061 9,449 5,727 980 6,788 10,429 Net Assets, Beginning 295,145 342,117 52,841 40,244 347,986 382,361 Prior Period Adjustment - (56,421) (1,186) 11,617 (1,186) (44,804) Net Assets, Beginning as Restated 295,145 285,696 51,655 51,861 346,800_ 337,557___ Net Assets, Ending $296,206 295,145 57,382 52,841 $353,588 47,986 Governmental Activities The graph below and on the next page represents a comparison of program revenues to program expenses for governmental activities in fiscal years 2003 and 2002. It is apparent from these graphs that general revenues were required to cover expenses in each of the functions noted. Monroe County, Florida Governmental Activities(in Millions) For the year ended September 30, 2003 ■Program Revenues O Program Expenses 90 81.9 80 70 60 50 40 34°5 33. 30 14 6 20 10. .5 8.0 4.3 8.2 10 2.1 3.0 0.6 2.0 2.6 0.7 1.5 0 rrr CD B � CBD 0 Z) T The largest revenue sources for governmental activities in 2003 are property taxes in the amount of $58,170,115 and all other taxes totaling $41,467,323. Total taxes of$99,637,438 amounted to 61.4% of Monroe County's governmental activity revenues excluding transfers. The second largest revenue source is charges for service at $26,696,324 or 16.5% of governmental activity revenues excluding transfers. C-6 The 2003 graph identifies the largest expense function as public safety amounting to $81,889,999. This is 51% of the total expenses for governmental activities. The second largest function is general government with a total of $34,520,630 or 21% of total expenses for governmental activities. The general government expenses include the Tax Collector, Property Appraiser, and the Supervisor of Elections. The largest revenue sources for governmental activities in 2002 are property taxes in the amount of $54,584,047 and all other taxes totaling$40,132,616. Total taxes of $94,716,663 amounted to 60% of Monroe County's governmental activity revenues excluding transfers. The second largest revenue source is charges for service at $29,484,411 or 19% of governmental activity revenues excluding transfers. The 2002 graph identifies the largest expense function as public safety with a total of $73,365 (in thousands). This is 49% of the total expenses for governmental activities. The second largest function is general government with a total of$30,780 (in thousands)or 21% of total expenses for governmental activities. The general government expenses include the Tax Collector, Property Appraiser, and the Supervisor of Elections. Monroe County,Florida Governmental Activities(in Millions) For the year ended September 30,2002 ■Program Revenues O Program Expenses 80.0 73.4 70.0 60.0 50.0 - 40.0 30.8 30. 30.0- 15.4 5.8 8.0 8.8 %0 0.8 1.6 0.5 1.0 2 5.3.8 0.fi 1.2 0.0__ I - � I D _.MEN— I �' _ � 0 0 z3 � s. ' m L 0 d - B ° � OW 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 service revenues in 2003 amount to $18,425,833 or 69% 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$6,386,898. The change in net assets in 2003 was $5,726,990. This represents an increase of$4,746,908 from the prior year. Capital grants received during 2003 increased approximately $3 million and there were no significant transfers of property to other local governments as there were in 2002. C-7 Financial Analysis of Monroe County's Funds Governmental Funds As earlier mentioned in the Financial Highlights, Monroe County's governmental funds reported combined fund balances of $174,982,547 at the end of the current fiscal year. This represents a 6% increase from the prior year. Governmental funds' unreserved fund balance totals were $164,887,430, an increase of 4% from the prior year and 94% of the total fund balance. Fund balances are reserved $2,170,930 to meet current commitments (encumbrances) in the next fiscal year, $2,651,655 for Monroe County Land Authority land and land rights acquisition, and $5,272,532 for mortgage loans receivable. The Monroe County Land Authority is a blended component unit of Monroe County and is reported as a non-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, 2003, total fund balance in the general fund was $19,541,511. Total revenues increased $898,728 or 3% from the previous year. Expenditures also increased by $2,497,261 or 4%. Most of the expenditure increase (74%) is attributable to the general government and public safety functions. Other Maior Fund Information (in thousands) Fine and Road and Governmental Forfeiture Bridge Grants 2003 2002 2003 2002 2003 2002 Revenues and Other Sources $ 36,958 $ 34,518 $ 5,340 $ 6,590 $ 9,523 $ 4,428 Expenses and Other Uses 37,028 36,086 9,666 6,941 8,771 4,864 Increase (Decrease) In Fund Balance $ 70 $ (1,568) $ 4,326 $ (351) $ 752 $ (436) HIDTA One Cent Infrastructure Surtax Grants Infrastructure Surtax 2003 Revenue Bonds 2003 2002 2003 2002 2003 2002 Revenues and Other Sources $17,002 $ 15,307 $ 13,487 $ 13,536 $ 21,102 $ - Expenses and Other Uses 17,002 15,307 13,703 10,431 216 - Increase (Decrease) In Fund Balance $ - $ - $ (216) $ 3,105 $ 20,886 $ - C-8 Fine and Forfeiture Special Revenue Fund Although ad valorem millage rates were slightly lowered, tax revenues increased because of the increase in property values. Expenditures increased primarily because of an increase in insurance premiums, in large part health insurance. Road and Bridge Special Revenue Fund, Expenditures in 2003 were entirely supported by fund revenues. In 2002, a large transfer from the Impact Fees, Roadway Special Revenue Fund was received. Monroe County received a grant in 2003 for highway improvements. Expenditures in 2003 increased to provide the Governmental Grants Special Revenue Fund with match for this grant. Governmental Grants Special Revenue Fund Revenues and other sources increased because of additional grant funding and a large transfer from the Road and Bridge Special Revenue needed for grant match. Expenditures increased because of grants used to improve highways, begin construction of a county-wide sewer system and other new programs. HIDTA Grants Special Revenue Fund This fund is used to account for reimbursement grants funded by the US. Department of Justice to fight drug trafficking. The volume of revenues and expenditures increased because of new initiatives established by the grantor. One Cent Infrastructure Surtax Capital Projects Fund The citizens of Monroe County approved a one cent sales surtax which is the main revenue source in this fund. Expenditure for 2003 include approximately $5.5 million used to meet the debt service payments required by the sales tax revenue refunding bonds and partial payment of a land use settlement. The balance of the expenditures in this fund are used for Monroe County's expanding capital improvement programs. Infrastructure Surtax 2003 Revenue Bonds Capital Projects Fund Monroe County issued $21,455,000 in revenue bonds to be paid from one cent sales surtax revenues. The proceeds from the bonds will be used to pay for various public safety and governmental construction projects. 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. The Key West Airport Enterprise Fund receives numerous operating and capital grants. The major source of match for these grants is funds received from the various airlines as passenger facility charges. The increase in non-depreciable assets is indicative of the major capital improvements funded by these capital grants and local match. Operating expenses increased due to grant funded planning and studies. Other factors concerning the finances of these two 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 have been a major focus in Monroe County's operations. Management has taken aggressive action to improve operating results in the self-insurance funds. Although insurance premiums expense have increased in the Worker's Compensation Fund, asserted C-9 and paid claims decreased from $1,929,819 in fiscal year 2002 to $1,198,011 in fiscal year 2003. This is a decrease of 38%. The Group Insurance Fund has been the subject of great concern for a number of years because of continually escalating costs. Management has increased charges to participants in the program, and has changed insurance carriers to achieve premium savings. Benefits available to participants and retirees have also been decreased. Asserted and paid claims have increased from $11,544,484 in fiscal year 2002 to $13,091,270 in fiscal year 2003, an increase of 13%. However, operating revenues have also increased $2,352,189 or 19%. Operating income increased $780,352 in fiscal year 2003 from fiscal year 2002. 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, 2003, was $176,344,664. Investment in capital assets for governmental activities is $142,736,844 and $33,607,820 is for business-type activities. These capital assets include both assets purchased as well as donated. They also include infrastructure assets, e.g., bike paths, roads, bridges, storm water and wastewater sites, that were completed in the last two fiscal years. These assets are recorded at historical cost. An extended period of deferral will be used by Monroe County before recording infrastructure assets acquired prior to the effective implementation date of GASB Statement No. 34. This deferral is expected to last approximately a year. The County has an additional three year period in which to retroactively report infrastructure assets. The amount of unreported infrastructure is not currently determinable. Monroe County has several significant construction projects. Airport runways, hangars and related facilities are undergoing improvements. Monroe County has begun to construct central sewer systems to replace the existing method of wastewater disposal and improve Monroe County's fragile environment. There are also several roadway improvement projects, which will provide better road drainage, create bike paths, and upgrade safety measures. Monroe County has also received approximately$1,100,000 in land donated by citizens as part of the building permit process. Monroe County retired its reduction plant equipment previously used in the Municipal Service District— Waste business type activity. Solid waste is transported to disposal sites outside Monroe County, and these assets are no longer of future value. Several assets were retired which no longer met the capitalization policy criteria for assets developed as part of the GASB 34 infrastructure implementation process. Further details are available in note 6 to the financial statements pages F-15 through F-16. Long-Term Debt At September 30, 2003, Monroe County had long-term debt in the amount of$44,304,386. This debt is mainly comprised of revenue bonds and notes secured by pledges of revenues. Revenue secured debt for governmental activities is $29,432,901 and $3,976,153 is for business-type activities. Monroe County has no general obligation bonds. On December 19, 2002, Monroe County refunded $5,660,000 1991 Municipal Service District Refunding Bonds with a Solid Waste Disposal System Refunding Revenue Note in the amount of $4,143,945. On that same date, Monroe County also refunded the $3,405,000 1993 Refunding Revenue Bonds with a Guaranteed Entitlement Refunding Revenue Note in the amount of$3,495,144. C-10 In addition, Monroe County issued $21,455,000 Infrastructure Sales Surtax Revenue Bonds in March 2003 to acquire, construct, equip, and/or renovate various capital improvements including fire facilities, the Upper Keys Government Center, Plantation Key and Marathon Courtrooms, and a medical examiner facility. Moody's Investors Service, Standard and Poor's Ratings Services and Fitch Ratings assigned municipal bond ratings of"Aaa" and "AAA" respectively, to the above mentioned bond based upon the municipal bond insurance policy securing such bonds issued by MBIA Insurance Corporation. Further details are available in note 7 to the financial statements pages F-17 through F-21 Budgetary Highlights The General Fund's final budgeted change in fund balances did not change from the original budgeted amount. However, there were changes within budgeted categories which are summarized below: The total final revenue budget increased by $330,251 or 1% from the original budget. Charges for services increased $212,816 or 65% of the total revenue budget increase The total expenditure budget increased by $1,137,732 or 2% from the original budget. Of this total $759,437 or 67% is directly related to general government. The largest general government budget increase was $470,000 or 62% which is directly related to a new cost center for asbestos abatement. Economic Factors and Next Year's Budgets and Rates Monroe County's officials considered many factors when adopting the fiscal year 2004 budget. Included among these factors were the rise in property values and the recovery of various sales tax and other revenues impacted by the tourist economy and the incorporation of Islamorada and Marathon. Also considered were the constantly escalating costs of health insurance, increases in insurance premiums for all types of coverage, the implementation of wastewater treatment programs, affordable housing initiatives and the purchase and maintenance of expanded park and recreational facilities. Ad valorem taxes based on property values comprise approximately 72% of budgeted tax revenues. The Property Appraiser certified a county-wide property value of roughly $12.7 billion for fiscal year 2003. For fiscal year 2004, the county-wide property value has been certified at approximately $14.7 billion, an increase of 15.7%. Charges for services paid to Constitutional Officers have increased to cover the cost of those operations, largely attributable to an increase in insurance costs. Other charges for services have increased because the charges are based on property values and tourist related activities, both of which have increased. However, for the eighth year in a row it was unnecessary to increase the solid waste residential rates because of previous successful negotiations with the contractor providing waste transportation services. 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-11 MONROE COUNTY, FLORIDA STATEMENT OF NET ASSETS SEPTEMBER 30, 2003 Component Primary Government Unit Governmental Business-Type Monroe County Activities Activities Total Hsg Fin Auth ASSETS Current Assets: Cash and Cash Equivalents $ 188,597,412 $21,716,792 $210,314,204 $ 65,810 Accounts Receivable, Net 523,268 838,411 1,361,679 - Internal Balances 605,538 (605,538) - - Due from Other Governmental Units 7,899,320 3,804,711 11,704,031 - Interest Receivable 177,407 177,407 - Inventory 46,652 - 46,652 - Total Current Assets 197,849,597 25,754,376 223,603,973 65,810 Current Restricted Assets: Cash and Cash Equivalents - 3,282,557 3,282,557 - Noncurrent Assets: Mortgage/ Notes Receivable 8,740,675 - 8,740,675 - Allowance for Mortgage/Notes Receivable (3,468,143) - (3,468,143) - Deferred Charges 498,488 27,944 526,432 - Land and Other Nondepreciable Assets 54,764,558 10,371,179 65,135,737 - Other Capital Assets, Net of Accumulated Depreciation 97,214,227 28,230,064 125,444,291 - Total Noncurrent Assets 157,749,805 38,629,187 196,378,992 - Total Assets 355,599,402 67,666,120 423,265,522 65,810 LIABILITIES Current Liabilities: Accounts Payable 5,114,982 2,907,666 8,022,648 - Retainage Payable 734,035 518,989 1,253,024 111 Accrued Wages and Benefits Payable 3,361,467 129,896 3,491,363 - Claims and Judgements Payable 6,586,244 164,146 6,750,390 - Due to Other Governmental Units 2,922,785 609,616 3,532,401 - Accrued Comp. Absences Payable 484,270 39,946 524,216 - (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, 2003 Component Primary Government Unit Governmental Business-Type Monroe County Activities Activities Total Hsg Fin Auth Other Current Liabilities 3,501 10 3,511 Deposits in Escrow 108,375 152,864 261,239 Unearned Revenue 1,150,157 4,727 1,154,884 Accrued Interest Payable 471,879 70, 54 542,533 Capital Leases Payable 431,286 50,000 481,286 Notes Payable 545,64 302,112 847,756 Revenue Bonds Payable 5,630,000 5,630,000 Other Debt 2,000,000 - 2,000,000 Total Current Liabilities 29,54,625 4,950,626 34,495,251 111 Current Liabilities (Payable from Current Restricted Assets) Landfill Closure and Post Closure Costs - 360,875 360,875 - Noncurrent Liabilities: Accrued Comp. Absences Payable 4,924,985 331,210 5,256,195 m Capital Leases Payable 266,365 967,270 1,233,635 - Notes Payable 2,907,257 3,674,041 6,581,298 - Revenue Bonds Payable 20,350,000 - 20,350,000 Other Debt 1,400,000 - 1,400,000 - Total Noncurrent Liabilities 29,848,607 4,972,521 34,821,128 - Total Liabilities 59,393,232 10,284,022 69,677,24 111 NET ASSETS Invested in Capital Assets, Net of Related Debt 142,736,844 33,607,820 176,344,664 Restricted (20,888,611) 3,282,557 (17,606,054) - Unrestricted 174,357,937 20,491,721 194,849,658 65,699 Total Net Assets $296,206,170 $ 57,382,098 $353,588,268 $ 65,699 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 30,2003 Program Revenues Operating - Capital Charges for Grants and Grants and Functions/Programs Expenses Services Contributions Contributions Primary government: Governmental activities: General Government $ 34,520,630 $ 7,885,812 $ 72,018 $ 2,561,059 Public Safety 81,889,999 15,398,244 17,864,249 110,439 Physical Environment 2,953,838 426,234 1,327,364 375,120 Transportation 6,504,247 177,927 225,719 168,675 Economic Environment 14,567,326 720,830 1,268,645 - Human Services 8,041,615 616,832 2,006,595 - Culture and Recreation 4,271,191 187,860 255,546 220,000 Court Related 8,180,939 1,282,585 212,071 Interest on Long Term Debt 845,058 - - - Total governmental activities 161,774,843 26,696,324 23,232,207 3,435,293 Business-type activities: Solid Waste 13,204,903 12,811,784 328,409 86,347 Toll Bridge 971,275 1,189,254 Key West Airport 5,102,517 3,823,977 1,687,220 2_,953,107 Marathon Airport 1,063,348 600,818 125,870 2,62,81 Total business-type activities 20,342,043 18,425,833 2,141,499 5,702,270 Total primary government $ 182,116,886 $ 45,122,157 $ 25,373,706 $ 9,137,563 Component Unit: Monroe Cnty Hsg Fin Auth $ 17,36 $ - $ $ - 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 State Shared Revenue Investment Income Miscellaneous Transfers Total General Revenues and Trsfs Change in Net Assets Total Net Assets-Beginning Chng in the App.of Acctg. Principles Total Net Assets-Beg., Restated Total Net Assets-Ending The notes to the financial statements are an integral part of this statement. D-3 Net(Expense) Revenue and Changes in Net Assets Component Primary Government Unit Governmental Business-type Monroe County Activities Activities Total Hsg Fin Auth $ (24,001,741) $ - $ (24,001,741) $ - (48,517,067) - (48,517,067) - (825,120) - (825,120) - (5,931,926) - (5,931,926) - (12,577,851) - (12,577,851) - (5,418,188) - (5,418,188) - (3,607,785) - (3,607,785) - (6,686,283) - (6,686,283) - (845,058) - (845,058) - (108,411,019) - (108,411,019) - - 21,637 21,637 - - 217,979 217,979 - - 3,361,787 3,361,787 - - 2,326,156 2,326,156 - - 5,927,559 5,927,559 - $ (108,411,019) $ 5,927,559 $ (102,483,460) $ - $ - $ - $ - $ (17,364) 58,170,115 - 58,170,115 - 2,078,380 - 2,078,380 - 5,087,735 - 5,087,735 - 7,787,670 - 7,787,670 - 12,884,890 - 12,884,890 - 12,395,648 - 12,395,648 - 1,233,000 - 1,233,000 - 3,152,543 - 3,152,543 - 2,939,632 401,560 3,341,192 7,948 3,082,404 57,779 3,140,183 - 659,908 (659,908) - - 109,471,925 (200,569) 109,271,356 7,948 1,060,906 5,726,990 6,787,896 (9,416) 295,145,264 52,840,953 347,986,217 75,115 - (1,185,845) (1,185,845) - 295,145,264 51,655,108 346,800,372 75,115 296,206,170 -$57,382,098 353,588,268 $ 65,699 D-4 MONROE COUNTY, FLORIDA BALANCE SHEET GOVERNMENTAL FUNDS SEPTEMBER 30, 2003 Fine & Road & Governmental General Forfeiture Bridge Grants Assets Cash and Cash Equivalents $19,857,906 $10,173,289 $ 9,406,353 $3,541,302 Accounts Receivable, Net 114,588 - - 78 Due from Other Funds 4,945,368 - 1,300 474,146 Due from Other Governmental Units 353,711 853,907 443,737 1,111,452 Mortgages Receivable - - - - Allowance for Mortgage Receivable - - - - Interest Receivable - - - - Inventory 46,652 - - - Total Assets $25,318,225 $11,027,196 $ 9,851,390 $5,126,978 Liabilities and Fund Balances Liabilities: Accounts Payable $ 1,298,867 $ 113,840 $ 82,524 $ 375,120 Retainage Payable 9,101 - 57,584 180,382 Accrued Wages and Benefits Payable 2,461,456 26,646 148,085 78,553 Due to Other Funds 140,935 241,891 612,509 5,000 Due to Other Governmental Units 1,436,895 38,474 1,869 454,954 Accrued Comp. Absences Payable 321,729 - 9,006 3,302 Other Current Liabilities 54 1,120 24 1,134 Deposits in Escrow 29,140 - 300 - Deferred Revenues 78,537 - - 929,229 Accrued Interest Payable - - - - Total Liabilities 5,776,714 421,971 911,931 2,027,674 Fund Balances: Reserved for: Encumbrances 243,535 119,650 688,801 56,484 Land Acquisition - - - - Mortgage Loans - - - - Unreserved, Designated for Special Rev. Fund - - - - Unreserved, Undesignated 19,297,976 10,485,575 8,250,688 3,042,820 Unreserved, reported in nonmajor: Special Revenue Funds - - - - Debt Service Funds - - - - Capital Projects Funds - - - Total Fund Balances 19,541,511 10,605,225 8,939,489 3,099,304 Total Liabilities and Fund Balances $25,318,225 $ 11,027,196 $ 9,851,390 $5,126,978 The notes to the financial statements are an integral part of this statement. E-1 Infrastructure One Cent Sales Surtax Other Total HIDTA Infrastructure Revenue Bonds, Governmental Governmental Grants Surtax Series 2003 Funds Funds $ 1,184,330 $ 33,797,042 $ 20,888,611 $ 75,392,910 $ 174,241,743 - 3 - 397,648 512,317 79 - 208,517 5,629,410 2,192,458 - 2,797,113 7,752,378 - - 8,740,675 8,740,675 - (3,468,143) (3,468,143) - 177,407 177,407 - - - - 46,652 $ 1,184,330 $ 35,989,582 $ 20,888,611 $ 84,246,127 $ 193,632,439 $ 365,949 $ 389,915 $ 720 $ 2,310,929 $ 4,937,864 - 453,340 - 33,628 734,035 113,961 27,420 1,998 431,528 3,289,647 137,287 299,760 79 3,201,820 4,639,281 511,131 - - 431,162 2,874,485 56,002 9,202 - 79,679 478,920 - 6 - 587 2,925 - - 78,935 108,375 - 142,391 1,150,157 - - 434,203 434,203 1,184,330 1,179,643 2,797 7,144,862 18,649,892 - 597,421 222,142 242,897 2,170,930 - - 2,651,655 2,651,655 - - - 5,272,532 5,272,532 - - 398,074 398,074 34,212,518 20,663,672 - 95,953,249 - - 65,578,692 65,578,692 2,602,987 2,602,987 - - 354,428 354,428 - 34,809,939 20,885,814 77,101,265 174,982,547 $ 1,184,330 $ 35,989,582 $ 20,888,611 $ 84,246,127 $ 193,632,439 E-2 MONROE COUNTY, FLORIDA RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO STATEMENT OF NET ASSETS SEPTEMBER 30, 2003 Amounts reported for governmental activities in the Statement of Net Assets are different because: Ending Fund Balance- Governmental Funds $ 174,982,547 Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the governmental 150,485,394 funds, net of accumulated depreciation of$51,526,444. 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 498,488 governmental funds, net of$20,334. Long-term liabilities are not due and payable in the current period and, therefore, are not reported in the governmental funds. Notes Payable (3,452,901) Bonds Payable (25,980,000) Capital Leases Payable (697,651) Accrued Interest Payable (37,676) Accrued Compensated Absences (4,803,902) Other Long-Term Debt (3,400,000) Total (38,372,130) The assets and liabilities of the Internal Service Funds (funds which are used to charge the costs of insurance and fleet maintenance activities to individual funds) are not reported in the governmental funds. 8,611.871 Net Assets of governmental activities 296,206,170 The notes to the financial statements are an integral part of these statements. E-3 MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2003 Fine& Road & Governmental General Forfeiture Bridge Grants Revenues: Taxes $ 17,408,482 $ 32,862,047 $ 1,493,974 $ - Licenses and Permits 367,508 - - - Intergovernmental 10,811,244 21,662 3,546,195 6,401,097 Charges for Services 3,406,786 2,515,017 39,199 293,118 Fines and Forfeitures 17,221 1,304,385 - - Investment Income 335,023 228,392 179,704 32,149 Miscellaneous 750,252 27,211 81,081 48,357 Total Revenues 33,096,516 36,958,714 5,340,153 6,774,721 Expenditures: Current: General Government 18,835,654 253,796 - 61,875 Public Safety 36,130,836 6,504,549 - 529,516 Physical Environment 472,771 - - 1,702,903 Transportation 55,766 - 5,760,372 3,227,973 Economic Environment 417,285 - 123,787 25,671 Human Services 4,379,929 - 1,083,486 2,401,251 Culture and Recreation 2,286,250 - - 505,886 Court Related 7,061,196 543,740 - 207,275 Capital Projects - - - Debt Service - - - - Total Expenditures 69,639,687 7,302,085 6,967,645 8,662,350 Excess/Defiency of Revenues Over/(Under) Expenditures (36,543,171) 29,656,629 (1,627,492) (1,887,629) Other Financing Sources/(Uses): Transfers from Other Funds 37,190,273 - - 2,748,773 Transfers to Other Funds (2,550,001) (29,725,957) (2,698,252) (108,652) Capital Lease Acquisition - - - - Debt Proceeds - - - - Payment to Refund Bond Escrow - - - - Original Issue Discount - - - - Total Other Financing Sources/(Uses) 34,640,272 (29,725,957) (2,698,252) 2,640,121 Net Change in Fund Balances (1,902,899) (69,328) (4,325,744) 752,492 Fund Balances-October 1 21,444,410 10,674,553 13,265,233 2,346,812 Fund Balances-September 30 $ 19,541,511 $ 10,605,225 $ 8,939,489 $ 3,099,304 The notes to the financial statements are an integral part of these statements. E-4 Infrastructure One Cent Sales Surtax Other Total HIDTA Infrastructure Revenue Bonds, Governmental Governmental Grants Surtax Series 2003 Funds Funds $ - $ 12,884,890 $ - $ 23,116,834 $ 87,766,227 - - 1,780,789 2,148,297 16,963,814 - - 9,271,962 47,015,974 - - - 6,884,402 13,138,522 - - - 1,600,237 2,921,843 - 526,047 151,671 1,297,594 2,750,580 - 409 - 1,364,102 2,271,412 16,963,814 13,411,346 151,671 45,315,920 158,012,855 - - - 7,804,407 26,955,732 16,695,924 - - 23,187,232 83,048,057 - - - 761,276 2,936,950 301,919 - 57,614 9,403,644 - - 14,014,585 14,581,328 - - - 209,072 8,073,738 - - - 1,344,894 4,137,030 - - - 92,372 7,904,583 - 6,336,416 215,857 - 6,552,273 305,840 - - 6,463,856 6,769,696 17,001,764 6,638,335 215,857 53,935,308 170,363,031 (37,950) 6,773,011 (64,186) (8,619,388) (12,350,176) 75,541 - 9,030,868 49,045,455 - (7,064,640) - (5,851,893) (47,999,395) 37,950 - - = 37,950 - - 20,950,000 4,000,144 24,950,144 - (3,461,644) (3,461,644) - - - (96,028) (96,028) 37,950 (6,989,099) 20,950,000 3,621,447 22,476,482 - (216,088) 20,885,814 (4,997,941) 10,126,306 35,026,027 - 82,099,206 164,856,241 $ - $ 34,809,939 $ 20,885,814 $ 77,101,265 174,02547 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, 2003 Amounts reported for governmental activities in the statement of activities are different because: Net change in fund balances -total governmental funds $ 10,126,306 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 $26,949,397 exceeded depreciation of $6,479,471 in the current period. 20,469,926 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. 1,127,820 Governmental funds only report the disposal of assets to the extent proceeds are received from the sale. In the Statement of Activities, grants and aid (transfers of property to other governmental agencies) and any losses generated are reported as expenses. (13,767,558) Payment of long-term debt is reported as an expenditure on the Governmental Funds, but a reduction of long-term liabilities in the Statement of Net Assets. 11,430,965 The issuance of long-term debt provides current financial resources to governmental funds. However, in the Statement of Activities it is reported as a long- term liability. (30,369,272) Long-term compensated absences do not use current financial resources and are not reported on the Governmental Funds but are included in the Statement of (69,823) Activities. 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 is reported as governmental activities. The amount is the net effect of these transactions. 177,680 The net revenues of internal service funds (funds used to charge the costs of certain activities to individual funds) are reported with governmental activities. 1,934,862 Change in net assets of governmental activities $ 1,060,906 The notes to the financial statements are an integral part of these statements. E-6 MONROE COUNTY, FLORIDA GENERALFUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 17,365,368 $ 17,365,368 $ 17,408,482 $ 43,114 Licenses and Permits 250,000 250,000 367,508 117,508 Intergovernmental 9,174,939 9,239,604 10,811,244 1,571,640 Charges for Services 1,998,743 2,211,559 3,406,786 1,195,227 Fines and Forfeitures 11,000 11,000 17,221 6,221 Investment Income 522,000 522,000 335,023 (186,977) Miscellaneous 212,800 265,570 750,252 484,682 Total Revenues 29,534,850 29,865,101 33,096,516 3,231,415 EXPENDITURES: Current: General Government: Board of County Commissoners 1,401,952 1,401,952 1,307,558 94,394 County Administrator 476,404 488,975 488,975 - Public Works Management 187,152 187,152 181,606 5,546 Public Safety Management 207,556 206,156 111,883 94,273 Community Services Management 189,991 191,398 190,306 1,092 County Attorney 815,829 850,851 850,470 381 Office of Management & Budget 527,866 527,866 499,786 28,080 Technical Services 1,467,817 1,472,417 1,462,984 9,433 Personnel 394,319 389,719 334,785 54,934 Public Works Facilities Maintenance 5,153,670 5,187,649 4,965,605 222,044 ADA Compliance 5,000 5,000 530 4,470 Value Adjustment Board 15,000 15,000 11,171 3,829 Community Svcs-Marine Projects 113,180 113,180 110,971 2,209 Promotional Advertising 5,000 5,000 3,620 1,380 Tax Increment Payment 140,000 140,000 120,513 19,487 Quasi External Services 22,000 22,000 17,231 4,769 Clerk to BOCC-Financial Package 35,000 20,000 6,107 13,893 Clerk to Board of County Commissioners 952,101 955,591 936,770 18,821 Internal Audit 162,444 162,444 125,150 37,294 TDC Audit Function 138,711 138,711 97,490 41,221 Ins-Clerk BOCC, Internal &TDC Audits 194,701 214,292 214,292 Tax Collector 3,077,421 3,090,787 2,711,527 379,260 Property Appraiser 2,951,226 3,150,676 2,885,679 264,997 Supervisor of Elections 903,438 903,438 842,942 60,496 Insurances- Supervisor of Elections 118,485 124,425 123,672 753 (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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) GASB 34 Implementation 30„000 30,000 21,019 8,981 Gov't Enterprise Mgmt System 15,000 15,000 - Vehicle Replacement 181,225 147,246 - 147,246 Asbestos Abatement - 470,000 198,012 271,988 Total General Government 19,867,488 20,626,925 18,835,654 1,791,271 Public Safety: Hurricane 6,773 6,773 1,029 5,744 Communications 494,422 494,422 484,116 10,306 Emergency Medical Services Admin. 151,185 154,256 152,408 1,848 Emergency Management 251,807 273,207 267,873 5,334 Marathon Emergency Ops Center 53,441 53,441 43,806 9,635 Medical Examiner 552,463 552,463 519,043 33,420 Red Cross Lower Keys 19,590 39,840 20,250 19,590 Sheriff 34,712,617 34,777,282 34,525,514 251,768 Fire Academy 127,286 130,831 116,797 14,034 Total Public Safety 36,369,584 36,482,515 36,130,836 351,679 Physical Environment: Extension Service 214,571 214,571 208,054 6,517 Land Steward 75,993 75,993 62,035 13,958 Hazardous Waste 219,201 219,201 202,682 16,519 Total Physical Environment 509,765 509,765 472,771 36,994 Transportation: County Engineer 83,422 83,422 55,766 27,656 Economic Environment: Literacy Volunteers of America 6,200 6,200 6,200 - Veteran's Affairs 441,195 441,195 411,085 30,110 Total Economic Environment 447,395 447,395 417,285 30,110 Human Services: Health Care Respite Act 90,000 90,000 73,907 16,093 Hospice of the Florida Keys - 40,000 40,000 40,000 - Public Works Animal Shelter 789,359 791,159 789,670 1,489 Bayshore Manor 558,317 558,317 542,566 15,751 (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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Middle Keys Guidance Clinic 531,604 525,615 525,615 - Upper Keys Guidance Clinic 92,691 92,691 92,691 - Care Center for Mental Health 195,189 195,189 194,268 921 Monroe Cnty Assoc.for Retarded Citizens 48,370 48,370 48,370 - Heron/ Peacock 36,911 36,911 36,911 - Older Americans Volunteer Program 4,000 4,000 12 3,988 Legal Aid 17,500 17,500 14,139 3,361 Welfare Administration 676,418 676,418 661,382 15,036 Welfare Services 761,267 826,496 826,496 - Caring Friends for Seniors 10,000 10,000 10,000 - Big Brothers\ Big Sisters 12,400 12,400 12,400 - Florida Keys Children's Shelter 35,020 35,020 35,020 - Wesley House 48,696 48,696 48,696 - Pace 22,250 22,250 22,250 - Helpline 12,400 12,400 11,923 477 Domestic Abuse Shelter 29,022 29,022 29,022 - Florida Keys Outreach Coalition 19,928 19,928 19,928 - Healthy Kids Program 38,493 38,493 38,493 - Samuel's House 21,283 21,283 21,202 81 Salvation Army 25,000 - - - Womankind 15,000 15,000 14,796 204 Rural Health Network 150,000 165,000 165,000 - Health Care Needs Study - 25,000 25,000 - Bayshore Donations - 10,960 10,000 960 Catholic Charities 19,348 19,348 19,348 - Dept of Health, ACHA - 25,000 25,000 - Red Ribbon Kids 3,100 3,100 - 3,100 Healthy Kids Outreach 20,000 25,824 25,824 - Total Human Services 4,323,566 4,441,390 4,379,929 61,461 Culture and Recreation: Big Pine Athletic Association 40,000 40,000 40,000 - Boys and Girls Club 31,000 31,000 31,000 - Higgs Beach Maintenance 31,536 31,536 31,231 305 Lower Keys AARP 2,500 3,400 3,230 170 Middle Keys AARP 2,500 2,500 2,463 37 Big Pine Key AARP 2,500 2,500 2,286 214 (Continued) The notes to the financial statements are an integral part of these statements. E-9 MONROE COUNTY, FLORIDA GENERALFUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL-CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Fine Arts Council 45,000 47,307 47,307 - Historic Keys Foundation 30,000 30,000 30,000 - Library Admin Support 469,254 474,833 465,114 9,719 Library Key West 608,170 602,590 591,822 10,768 Library Key West Donations 25,138 63,130 15,201 47,929 Library Marathon 253,635 260,055 251,628 8,427 Library Marathon Donations 5,000 3,957 - 3,957 Library Islamorada 250,176 253,776 253,262 514 Library Islamorada Donations 2,000 437 250 187 Library Key Largo 318,001 307,981 280,672 27,309 Library Key Largo Donations 8,000 8,650 1,993 6,657 Library Big Pine Key 180,929 246,929 238,791 8,138 Library Big Pine Key Donations 6,500 7,427 7,427 Vehicle Replacement-Library 3,542 3,542 - 3,542 Total Culture and Recreation 2,315,381 2,421,550 2,286,250 135,300 Court Related: Clerk of the Court-Records Management 248,700 268,249 261,082 7,167 Clerk of the Court-Recording 351,683 361,730 356,629 5,101 Clerk of the Court-Administrative 241,161 221,361 213,257 8,104 Clerk of the Court-Jury Management 83,750 78,744 67,153 11,591 Clerk of the Circuit Court-Criminal 573,452 561,217 548,603 12,614 Clerk of the Circuit Court-Civil 327,091 346,045 336,522 9,523 Clerk of the Circuit Court-Family 109,921 112,332 106,029 6,303 Clerk of the Circuit Court-Juvenile 80,735 81,689 78,637 3,052 Clerk of the Circuit Court-Probate 47,544 46,599 43,239 3,360 Clerk of the Court-Information Systems 510,361 505,436 495,916 9,520 Clerk of the Court-Criminal 429,250 389,911 373,950 15,961 Clerk of the Court-Civil 178,744 171,354 164,175 7,179 Clerk of the Court-Traffic 559,158 593,393 588,524 4,869 Insurances-Jury Management 10,378 11,110 11,110 - Insurances-Administration 81,763 87,208 87,208 - Insurances-Circuit Criminal 134,492 136,010 136,010 - Insurances-Information Systems 48,762 47,278 46,211 1,067 Insurances-Circuit Civil 63,649 69,185 69,185 - Insurances-Circuit Family 20,350 22,324 22,324 - Insurances-Circuit Juvenile 17,975 19,289 19,289 - (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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Insurances-Circuit Probate 9,045 9,783 9,783 - Insurances-Records Mgmt/Recording 122,499 132,723 132,723 - Insurances-County Criminal 107,294 107,372 98,072 9,300 Insurances-County Civil 44,976 45,462 44,682 780 Insurances-County Traffic 135,102 191,980 147,191 44,789 State Attorney 174,020 174,020 157,078 16,942 Public Defender 270,417 270,685 270,685 - Court Administration 16,771 16,771 16,552 219 Court Admin-Judicial Support 303,670 290,519 289,560 959 Court Admin-Staff Attorney 1,400 1,400 270 1,130 Court Admin-Jury Management 16,736 - - - Court Admin-Masters 5,000 5,000 4,616 384 Court Admin-Masters 14,000 19,000 16,928 2,072 Ct.Admin.-Circuit Court Reporter Service 420,547 420,547 306,880 113,667 Court Admin-Witness Coordination 42,281 42,281 38,505 3,776 Court Admin-Circuit Drug Court 315,758 308,331 308,326 5 Court Admin-Pretrial Release 515,811 515,811 471,795 44,016 Ct. Admin.-Other Circ. Ct. Criminal Costs 15,363 15,363 9,880 5,483 Court Admin-Pro Se Services 139,069 139,069 134,814 4,255 Ct. Admin.-Custody/Visit Evaluation 6,600 9,350 9,350 - Court Admin-Guardian Ad Litem 151,726 147,444 140,481 6,963 Ct. Admin.-Other Circuit Court Juvenile 169,153 169,153 168,099 1,054 Court Admin-Clinical Evaluations 8,000 8,000 5,575 2,425 Ct. Admin.-Masters Hearing Officers 8,000 3,000 2,869 131 Court Admin-Attorneys Fees 8,000 8,000 7,813 187 Ct.Admin.-Other Circ. Ct. Probate Costs 23,576 23,576 22,028 1,548 Court Admin-Information Systems 201,147 201,147 171,462 29,685 Ct. Admin.-County Court Interpreter 45,180 45,180 44,485 695 Ct. Admin.-Other Cnty Ct Criminal Costs 6,000 6,000 5,641 359 Total Court Related 7,416,060 7,457,431 7,061,196 396,235 Total Expenditures 71,332,661 72,470,393 69,639,687 2,830,706 Excess/deficiency of Revenues Over/(Under) Expenditures (41,797,811) (42,605,292) (36,543,171) 6,062,121 (Continued) The notes to the financial statements are an integral part of these statements. E-11 MONROE COUNTY, FLORIDA GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL-CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Other Financing Sources/(Uses): Reserve for Contingencies (2,415,238) (1,919,594) - 1,919,594 Transfers from Other Funds 35,609,640 36,145,640 37,190,273 1,044,633 Transfers to Other Funds (2,006,600) (2,230,763) (2,550,001) (319,238) Total Other Financing Sources/(Uses) 31,187,802 31,995,283 34,640,272 2,644,989 Net Change in Fund Balances (10,610,009) (10,610,009) (1,902,899) 8,707,110 Fund Balances, October 1 21,444,410 21,444,410 21,444,410 - Fund Balances, September 30 $ 10,834,401 $ 10,834,401 $ 19,541,511 $ 8,707,110 The notes to the financial statements are an integral part of these statements E-12 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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 34,025,131 $ 34,025,131 $ 32,862,047 $ (1,163,084) Intergovernmental 30,000 30,000 21,662 (8,338) Charges for Services 1,470,000 1,686,205 2,515,017 828,812 Fines and Forfeitures 1,200,000 1,200,000 1,304,385 104,385 Investment Income 400,000 400,000 228,392 (171,608) Miscellaneous - - 27,211 27,211 Total Revenues 37,125,131 37,341,336 36,958,714 (382,622) EXPENDITURES: Current: General Government Tax Increment Payment 270,000 270,000 253,796 16,204 Vehicle Replacement 23,002 23,002 - 23,002 Total General Government 293,002 293,002 253,796 39,206 Public Safety Sheriffs Group Insurance 4,783,445 4,838,304 4,838,304 - Bond Refunds - 70,000 60,685 9,315 LEEA Funds 75,000 75,000 75,000 - Jail Operations 99,324 99,324 98,875 449 Public Works Correction Facilities 1,486,614 1,486,614 1,224,387 262,227 Keys to Recovery Program 86,287 89,523 89,523 - Key West School Crossing Guard - 216,204 117,775 98,429 Total Public Safety 6,530,670 6,874,969 6,504,549 370,420 Court Related Sheriff Extradition 76,000 76,000 49,760 26,240 Court Reporting Services 79,000 89,000 82,449 6,551 Clinical Evaluations 41,000 41,000 37,773 3,227 Court Interpreters 31,000 26,000 22,490 3,510 Witness Coordination 58,000 58,000 53,240 4,760 Expert Witness Coordination 48,000 68,000 66,844 1,156 Public Defender Conflicts 264,500 244,500 215,388 29,112 Other Circuit Court Criminal Costs 26,000 21,000 15,796 5,204 Total Court Related 623,500 623,500 543,740 79,760 Total Expenditures 7,447,172 7,791,471 7,302,085 489,386 (Continued) The notes to the financial statements are an integral part of these statements. E-13 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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Excess/deficiency of Revenues Over/(Under) Expenditures 29,677,959 29,549,865 29,656,629 106,764 Other Financing Sources/(Uses): Reserve for Contingencies (785,772) (614,421) - 614,421 Transfers to Other Funds (29,905,930) (29,949,187) (29,725,957) 223,230 Total Other Financing Sources/(Uses) (30,691,702) (30,563,608) (29,725,957) 837,651 Net Change in Fund Balances (1,013,743) (1,013,743) (69,328) 944,415 Fund Balances, October 1 10,674,553 10,674,553 10,674,553 - Fund Balances, September 30 $ 9,660,810 $ 9,660,810 $ 10,605,225 $ 944,415 The notes to the financial statements are an integral part of these statements. E-14 MONROE COUNTY, FLORIDA ROAD AND BRIDGE SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Revenues: Taxes $ 1,275,000 $ 1,275,000 $ 1,493,974 $ 218,974 Intergovernmental 3,250,000 3,250,000 3,546,195 296,195 Charges for Services 17,000 17,000 39,199 22,199 Investment Income 325,000 325,000 179,704 (145,296) Miscellaneous 42,000 42,000 81,081 39,081 Total Revenues 4,909,000 4,909,000 5,340,153 431,153 Expenditures: Current: General Government: Vehicle Replacement 37,803 37,803 - 37,803 Transportation: Road Department 2,792,177 2,732,177 2,642,942 89,235 County Engineer Road and Bridge 720,858 640,858 581,429 59,429 Street Lighting 222,862 222,862 168,557 54,305 Local Option Gas Tax Projects 268,394 423,394 214,018 209,376 80% Gas Tax 4,000,000 3,233,400 2,020,674 1,212,726 In - House Projects 250,000 235,000 132,752 102,248 Marathon Roads 1,000,000 1,000,000 - 1,000,000 Islamorada Roads 914,000 914,000 - 914,000 Total Transportation 10,168,291 9,401,691 5,760,372 3,641,319 Economic Environment: Veterans Affairs Transportation 125,422 125,422 123,787 1,635 Human Services: Middle Keys Guidance Clinic 94,307 94,307 94,027 280 Guidance Clinic Transportation 42,351 45,962 45,962 - Social Services Transportation 1,063,804 1,053,667 943,497 110,170 Total Human Services 1,200,462 1,193,936 1,083,486 110,450 Total Expenditures 11,531,978 10,758,852 6,967,645 3,791,207 Excess/deficiency of Revenues Over/(Under) Expenditures (6,622,978) (5,849,852) (1,627,492) 4,222,360 (Continued) The notes to the financial statements are an integral part of these statements. E-15 MONROE COUNTY, FLORIDA ROAD AND BRIDGE SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL-CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Other Financing Sources/(Uses): Reserve for Contingencies (524,453) (5,842) - 5,842 Transfers to Other Funds (489,000) (2,949,288) (2,698,252) 251,036 Total Other Financing Sources/(Uses) (1,013,453) (2,955,130) (2,698,252) 256,878 Net Change in Fund Balances (7,636,431) (8,804,982) (4,325,744) 4,479,238 Fund Balances, October 1 13,265,233 13,265,233 13,265,233 - Fund Balances, September 30 $ 5,628,802 $ 4,460,251 $ 8,939,489 $ 4,479,238 The 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 FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Revenues: Intergovernmental $ - $ 16,077,827 $ 6,401,097 $ (9,676,730) Charges for Services - 289,646 293,118 3,472 Investment Income - 8,431 32,149 23,718 Miscellaneous - 85,333 48,357 (36,976) Total Revenues - 16,461,237 6,774,721 (9,686,516) Expenditures: Current: General Government: Supervisor of Elections - 185,625 61,875 123,750 Grant Match 400,000 14,751 - 14,751 Total General Government 400,000 200,376 61,875 138,501 Public Safety: Hazardous Material Plan - 3,865 - 3,865 FEMA- Hurricane Georges - 50 50 - FEMA-Tropical Storm Mitch - 156,166 124,585 31,581 EMS Hazardous Material - 92,930 61,028 31,902 Emergency Management Base Grant - 235,911 123,867 112,044 Radiological Emergency Preparedness - 123,128 100,093 23,035 EMS Award Grant - 153,031 90,024 63,007 Continuity of Operations - 25,000 - 25,000 Community Emergency Response Team - 8,000 1,729 6,271 Rural EMS Matching Grant - 136,550 - 136,550 Local Mitigation Strategy Plan - 5,200 - 5,200 FEMA Terrorism Preparedness - 46,913 7,725 39,188 Emergency Management Preparedness - 20,415 20,415 - Total Public Safety - 1,007,159 529,516 477,643 Physical Environment: Stormwater Improvement - 40,000 - 40,000 Sanitary Wastewater Master Plan - 100,000 89,700 10,300 Drelict Vessel Removal Fish and Wildlife - 161,838 74,478 87,360 Homeowners Wastewater Assistance - 2,192,000 150,000 2,042,000 DCA Canals & Post Disaster - 400,512 277,600 122,912 Coastal Impact Assistance - 296,387 58,368 238,019 Community Development Block Grant - 950,000 3,382 946,618 (Continued) The notes to the financial statements are an integral part of these statements. E-17 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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Stock Island & N Key Largo Wastewater - 1,016,445 1,016,445 - No Discharge Zone Education - 150,000 12,930 137,070 Boat Ramp Repairs - 121,660 20,000 101,660 Total Physical Environment - 5,428,842 1,702,903 3,725,939 Transportation: County Rd 905/SR 5 to County Line - 4,363,300 - 4,363,300 County Rd 905/ SR 5 to Ocean Reef - 2,016,150 - 2,016,150 S. FI.Water Mgmt. Dist. Stormwater - 3,133,748 2,649,994 483,754 Transportation Study Plan Update - 196,583 106,802 89,781 Safety Improvement Heritage Trail - 1,055,950 84,987 970,963 Florida Keys Scenic Hwy Planning - 105,000 41,135 63,865 Bicycle Pedestrian Coordination 2001 - 222,010 47,079 174,931 Overseas Heritage Trail - 1,998,494 238,349 1,760,145 Dept of Transportation Aerolite Bus - 59,637 59,627 10 Total Transportation - 13,150,872 3,227,973 9,922,899 Economic Environment: JTPA Liaison - 10,533 6,102 4,431 Affordable Housing Coordinator - 84,700 19,569 65,131 Total Economic Environment - 95,233 25,671 69,562 Human Services: Residential Substance Abuse Treatment - 284,028 173,027 111,001 Snr Community Svc Employment 02/03 - 134,091 112,816 21,275 Snr Community Svc Employment 03/04 - 54,558 38,945 15,613 Title III-B Support Services 02/03 - 51,505 27,825 23,680 Title III-B Homemaker 03/04 - 122,223 114,204 8,019 Nutrition Title III-C1 02/03 - 53,673 53,247 426 Title 111-C1 03/04 - 198,527 164,062 34,465 Nutrition Title III-C2 02/03 - 97,677 83,878 13,799 Title III-C2 03/04 - 235,234 230,814 4,420 Title III-E Respite 02/03 - 107,366 62,942 44,424 Alzheimer's Disease Initiative 01/02 - 66,488 11,487 55,001 Title III-E 03/04 - 54,788 43,679 11,109 Alzheimer's Disease Initiative 02/03 - 54,459 38,778 15,681 Comm. Care for Disabled Adults 02/03 - 52,449 52,449 - (Continued) The notes to the financial statements are an integral part of these statements E-18 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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Comm. Care for Disabled Adults 03/04 - 94,261 35,145 59,116 Comm. Care for Disabled Adults 2003 - 50,500 46,508 3,992 Comm. Care for the Elderly 02/03 - 634,244 582,667 51,577 Comm. Care for the Elderly 03/04 - 483,610 138,669 344,941 Home Care for the Elderly 02/03 - 3,662 2,312 1,350 Home Care for the Elderly 03/04 - 3,738 2,070 1,668 SCSEP Match 02/03 - 18,300 17,448 852 SCSEP Match 03/04 - 11,694 11,694 - Samuel's House I - 41,836 41,836 - FKOC Sunrise House - 13,945 13,945 - Safeport - 77,028 75,489 1,539 Sheriff Youth Challenge - 34,864 34,731 133 Residential Detox I - 36,027 36,027 - Boys and Girls Club - 25,567 18,046 7,521 US Fellowship of Florida - 21,619 21,619 - Low Income Home Energy Prog. 02/03 - 47,533 46,302 1,231 Low Income Home Energy Prog. 03/04 - 88,910 68,590 20,320 Total Human Services - 3,254,404 2,401,251 853,153 Culture and Recreation: State Aid to Libraries 159,894 159,894 - Court Records Preservation - 2,000 2,000 - Upper Keys Pool 220,000 220,000 - Library Services Technology Act - 53,992 53,992 - Library Services Technology Act - 70,000 70,000 - Settlers Park-SFCURP 14,108 14,108 Historic Buildings Survey - 26,250 - 26,250 Total Culture and Recreation - 546,244 505,886 40,358 Court Related: Dependency Council - 27,131 27,131 - Local Law Enforcement Block Grnt-2002 - 60,078 59,892 186 Local Law Enforcement Block Grnt-2003 - 123,358 76,738 46,620 Civil Traffic Infraction - 26,302 26,302 - Victims of Crime Acts - 21,413 17,212 4,201 Total Court Related - 258,282 207,275 51,007 (Continued) The notes to the financial statements are an integral part of these statements. E-19 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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Total Expenditures 400,000 23,941,412 8,662,350 15,279,062 Excess/deficiency of Revenues Over/(Under) Expenditures (400,000) (7,480,175) (1,887,629) 5,592,546 Other Financing Sources/(Uses): Reserve for Contingencies (55,000) (31,890) - 31,890 Transfers from Other Funds - 7,165,717 2,748,773 (4,416,944) Transfers to Other Funds - (108,652) (108,652) - Total Other Financing Sources/(Uses) (55,000) 7,025,175 2,640,121 (4,385,054) Net Change in Fund Balances (455,000) (455,000) 752,492 1,207,492 Fund Balances, October 1 2,346,812 2,346,812 2,346,812 - Fund Balances, September 30 $ 1,891,812 $ 1,891,812 $ 3,099,304 $ 1,207,492 The notes to the financial statements are an integral part of these statements. E-20 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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 14,404,184 $ 14,404,184 $ 16,963,814 $ 2,559,630 EXPENDITURES: Current: Public Safety 14,156,288 14,156,288 16,695,924 (2,539,636) Debt Service 247,896 247,896 305,840 (57,944) Total Expenditures 14,404,184 14,404,184 17,001,764 (2,597,580) Excess/Deficiency of Revenues Over/(Under) Expenditures - - (37,950) (37,950) Other Financing Sources/(Uses): Capital Lease Acquisition - - 37,950 37,950 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-21 MONROE COUNTY, FLORIDA STATEMENT OF NET ASSETS PROPRIETARY FUNDS SEPTEMBER 30, 2003 Business-type Activities Enterprise Funds Major Funds Municipal Card Key Svc District Sound West Marathon Waste Bridge Airport Airport ASSETS Current Assets: Cash and Cash Equivalents $ 9,717,819 $ 9,269,655 $ 2,056,095 $ 673,223 Accounts Receivable, Net 263,744 1,688 509,351 63,628 Due from Other Funds 62,934 - 9,426 1,614 Due from Other Governmental Units 557,228 7,330 2,492,821 747,332 Total Current Assets 10,601,725 9,278,673 5,067,693 1,485,797 Current Restricted Assets: Cash and Cash Equivalents 1,690,264 - 1,592,293 - Noncurrent Assets: Deferred Charges, Net 27,944 - - - Land and Other Nondepreciable Assets 3,629,620 50,000 2,768,049 3,923,510 Capital Assets, Net of Accum. Depreciation 251,349 3,845,940 14,854,620 9,278,155 Total Noncurrent Assets 3,908,913 3,895,940 17,622,669 13,201,665 Total Assets 16,200,902 13,174,613 24,282,655 14,687,462 LIABILITIES Current Liabilities: Accounts Payable 946,265 25,452 1,495,090 440,859 Retainage Payable - - 279,940 239,049 Accrued Wages and Benefits Payable 35,629 24,969 56,722 12,576 Claims and Judgements Payable 164,146 - - - Due to Other Funds 425,848 72,308 128,127 44,277 Due to Other Governmental Units 87,323 2,856 510,197 9,240 Accrued Interest Payable 70,654 - - - Accrued Comp. Absences Payable 10,165 7,012 17,010 5,759 Capital Leases Payable 50,000 - - - Other Current Liabilities 10 - - - Deposits in Escrow 133,346 150 12,267 7,101 Unearned Revenue - 3,434 1,293 Notes Payable 302,112 - - - Total Current Liabilities 2,225,498 132,747 2,502,787 760,154 The notes to the financial statements are an integral part of this statement. E-22 Internal Service Total Funds $ 21,716,792 $ 14,355,669 838,411 10,951 73,974 2,480 3,804,711 146,942 26,433,888 14,516,042 3,282,557 - 27,944 - 10,371,179 54,000 28,230,064 1,439,391 38,629,187 1,493,391 68,345,632 16,009,433 2,907,666 177,118 518,989 - 129,896 71,820 164,146 6,586,244 670,560 396,023 609,616 48,300 70,654 - 39,946 5,350 50,000 - 10 576 152,864 - 4,727 - 302,112 - 5,621,186 7,285,431 (Continued) E-23 MONROE COUNTY, FLORIDA STATEMENT OF NET ASSETS-CONTINUED PROPRIETARY FUNDS SEPTEMBER 30, 2003 Business-type Activities Enterprise Funds Major Funds Municipal Card Key Svc District Sound West Marathon Waste Bridge Airport Airport Current Liabilities Payable from Current Restricted Assets: Landfill Closure/Post Closure Costs 360,875 - Noncurrent Liabilities: Accrued Comp. Absences Payable 111,109 47,952 136,660 35,489 Capital Leases Payable 967,270 - - - Notes Payable 3,674,041 - - - Total Noncurrent Liabilities 4,752,420 47,952 136,660 35,489 Total Liabilities 7,338,793 180,699 2,639,447 795,643 NET ASSETS Invested in Capital Assets, Net of Related Debt (1,112,454) 3,895,940 17,622,669 13,201,665 Restricted 1,690,264 - 1,592,293 - Unrestricted 8,284,299 9,097,974 2,428,246 690,154 Total Net Assets $ 8,862,109 $ 12,993,914 $ 21,643,208 $ 13,891,819 Adjustment to reflect the consolidation of internal service activities related to enterprise funds. Net Assets of Business-Type Activities The notes to the financial statements are an integral part of this statement. E-24 Internal Service Total Funds 360,875 - 331,210 121,083 967,270 - 3,674,041 - 4,972,521 121,083 10,954,582 7,406,514 33,607,820 1,493,391 3,282,557 - 20,500,673 7,109,528 57,391,050 $ 8,602,919 (8,952) $ 57,382,098 E-25 MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2003 Business-type Activities Enterprise Funds Major Funds Municipal Card Key Svc District Sound West Marathon Waste Bridge Airport Airport Operating Revenues: Franchise Fees $ 151,678 $ - $ - $ - Charges for Services 12,660,106 1,189,254 3,807,485 600,818 Fines and Forfeitures - - 16,492 - Miscellaneous 27,504 25 28,977 1,273 Total Operating Revenues 12,839,288 1,189,279 3,852,954 602,091 Operating Expenses: Personnel Services 772,354 522,044 1,061,983 241,258 Operations 11,891,550 281,775 3,325,993 439,393 Depreciation and Amortization 210,463 149,634 659,430 339,071 Asserted and Paid Claims - - Total Operating Expenses 12,874,367 953,453 5,047,406 1,019,722 Operating Income/(Loss) (35,079) 235,826 (1,194,452) (417,631) Nonoperating Revenue/(Expenses): Operating Grants 278,409 - 1,687,220 125,870 Grant and Donations - Other Sources 50,000 - - - Investment Income 205,718 136,685 54,605 4,552 Loss on Disposition of Assets (95,530) (1,687) (27,965) (37,416) Interest Expenses and Fiscal Charges (208,652) - - - Total Non-Operating Revenues/(Expenses) 229,945 134,998 1,713,860 93,006 Income/(Loss) Before Contributions and Trsfs 194,866 370,824 519,408 (324,625) Transfers from Other Funds - - - 447,313 Transfers to Other Funds (378,087) (72,065) (613,332) (43,737) Capital Grants and Contributions 86,347 - 2,953,107 2,662,816 Change in Net Assets (96,874) 298,759 2,859,183 2,741,767 Total Net Assets-October 1 9,044,133 12,724,078 19,726,430 11,279,419 Change in Application of Accounting Principle (85,150) (28,923) (942,405) (129,367) Total Net Assets-October 1, Restated 8,958,983 12,695,155 18,784,025 11,150,052 Total Net Assets-September 30 $ 8,862,109 $ 12,993,914 $21,643,208 $ 13,891,819 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 this statement. E-26 Internal Service Total Funds $ 151,678 $ - 18,257,663 21,003,807 16,492 - 57,779 642,642 18,483,612 21,646,449 2,597,639 1,345,677 15,938,711 3,526,596 1,358,598 102,343 - 14,436,898 19,894,948 19,411,514 (1,411,336) 2,234,935 2,091,499 - 50,000 - 401,560 189,052 (162,598) (37,119) (208,652) - 2,171,809 151,933 760,473 2,386,868 447,313 - (1,107,221) (386,152) 5,702,270 10,893 5,802,835 2,011,609 6,743,902 (152,592) 6,591,310 $ 8,602,919 (75,845) $ 5,726,990 E-27 MONROE COUNTY, FLORIDA STATEMENT OF CASH FLOWS PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2003 Business-type Activities Enterprise Funds Major Funds Municipal Card Key Svc District Sound West Marathon Waste Bridge Airport Airport Operating Activities: Cash received for services $ 12,612,181 $ 1,182,024 $ 3,603,504 $ 564,100 Cash received from funds for goods and services - - - Cash payments to suppliers for goods and svcs (11,848,146) (246,681) (2,393,710) (259,412) Cash payments to employees for services (514,077) (345,924) (703,576) (161,928) Cash payments to other funds (338,311) (182,974) (256,629) (85,605) Other operating revenue 27,504 25 28,977 1,273 Net Cash Provided by/(Used in) Operating Activities (60,849) 406,470 278,566 58,428 Noncapital Financing Activities: Operating grants received 423,197 - 1,460,535 110,430 Transfers from other funds - - - 447,313 Transfers to other funds (327,786) (72,065) (663,720) (43,734) Net Cash Provided/(Used) by Noncapital Financing Activities 95,411 (72,065) 796,815 514,009 Capital and Related Financing Activities: Proceeds from capital grants - - 1,935,290 1,478,847 Acquisition of capital assets (8,857) (54,001) (2,881,622) (3,068,131) Principal paid on capital debt (2,143,252) - - - Interest paid on capital debt (249,078) - - - Capital contributions - - 131,390 1,160,133 Net Cash Provided/(Used)by Capital and Related Financing Activities (2,401,187) (54,001) (814,942) (429,151) Investing Activities: Investment income 205,718 136,685 54,605 4,552 Net Cash Provided/(Used) in Investing Activities 205,718 136,685 54,605 4,552 Net Increase/(Decrease) in Cash and Cash Equivalents (2,160,907) 417,089 315,044 147,838 Cash and Cash Equivalents: October 1 13,568,990 8,852,566 3,333,344 525,385 September 30 $ 11,408,083 9,269,655 $ 3,648,388 $ 673,223 The notes to the financial statements are an integral part of this statement. E-28 Internal Service Total Funds $ 17,961,809 $ 2,406,015 - 18,542,676 (14,747,949) (17,516,954) (1,725,505) (937,542) (863,519) (310,420) 57,779 720,498 682,615 2,904,273 1,994,162 447,313 - (1,107,305) (386,152) 1,334,170 (386,152) 3,414,137 (6,012,611) (63,596) (2,143,252) - (249,078) - 1,291,523 - (3,699,281) (63,596) 401,560 189,052 401,560 189,052 (1,280,936) 2,643,577 26,280,285 11,712,092 24,999, 49 14,355,669 (Continued) E-29 MONROE COUNTY, FLORIDA STATEMENT OF CASH FLOWS-CONTINUED PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2003 Business-type Activities Enterprise Funds Major Funds Municipal Card Key Svc District Sound West Marathon Waste Bridge Airport Airport Reconciliation of operating income/(loss) to net cash provided by/ (used in) operating activities Operating income/(loss) $ (35,079) $ 235,826 $ (1,194,452) $(417,631) Adjustments to reconcile operating income/ (loss) to net cash provided by/(used in) operating activities: Depreciation and Amortization 210,463 149,634 659,430 339,071 Change in Assets and Liabilities: Inc./(dec.) in Accounts receivable 105,340 (1,688) (221,250) (35,110) Inc./(dec.) in Due from other funds (57,721) (5,542) (9,426) (1,614) Inc./(dec.)in Due from gov'tl units (276,047) - (1,907) - Inc./(dec.) in Accounts payable 2,894 21,150 997,460 162,996 Inc./(dec.)in Accrued wages/benefits payable 530 1,125 2,566 3,624 Inc./(dec.) in Claims and judgments payable (52,443) - - - Inc./(dec.) in Due to other funds - 51 1,614 537 Inc./(dec.) in Due to other governmental units - (1,248) 27,522 - Inc./(dec.)in Compensated absences payable 9,569 7,012 17,009 5,760 Inc./(dec.)in Other current liabiliities (16) - - - Inc./(dec.) in Deposits in escrow 28,825 150 - 795 Inc./(dec.)in Landfill/Post Closure Costs 2,836 - - - Total adjustments (25,770) 170,644 1,473,018 476,059 Net cash provided by/(used in) operating activities $ (60,849) $ 406, 70 $ 278,566 $ 58,428 Noncash investing,capital,and financing activities: Contribution of capital assets from government $ 86,347 $ - $ 9,614 $ - Loss on disposition of assets $ (95,530) $ (1,687) $ (27,965) $ (37,416) Forgiveness of capital lease amount $ (50,000) $ - $ - $ - Cash Reconciliation: Unrestricted $ 9,717,819 $9,269,655 $ 2,056,095 $ 673,223 Restricted 1,690,264 - 1,592,293 - Total $ 11,408,083 $9,269,655 $ 3,648,388 $ 673,223 The notes to the financial statements are an integral part of this statement. E-30 Internal Service Total Funds $ (1,411,336) $ 2,234,935 1,358,598 102,343 (152,708) 77,856 (74,303) (2,480) (277,954) (52,931) 1,184,500 (115,898) 7,845 10,806 (52,443) 590,636 2,202 9,766 26,274 48,246 39,350 5,056 (16) (4,062) 29,770 - 2,836 - 2,093,951 669,338 $ 682,615 $ 2,904,273 $ 95,961 $ 10,893 $ (162,598) $ (37,119) $ (50,000) $ - $ 21,716,792 $ 14,355,669 3,282,557 - $ 24,999,349 $ 14,355,669 E-31 MONROE COUNTY, FLORIDA STATEMENT OF FIDUCIARY NET ASSETS FIDUCIARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2003 Fire and EMS Pension Agency Trust Fund Funds w ASSETS Cash and Cash Equivalents $ 492,298 $ 7,792,474 Accounts Receivable - 12,192 Due from Other Governmental Units - 11,828 Total Assets 492,298 $ 7,816,494 LIABILITIES Due to Others - $ 3,231,458 Due to Other Governmental Units - 4,585,036 Total Liabilities - $ 7,816,494 T ASSETS Held in Trust for Pension Benefits and Other Purposes $ 492,298 The notes to the financial statements are an integral part of these statements. E-32 MONROE COUNTY, FLORIDA STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS FIDUCIARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2003 Fire and EMS Pension Trust Fund Additions: Employer Contributions $ 99,437 Investment Income 8,139 Total Additions 107,576 Deductions: Administration (4,200) Change in Net Assets 103,376 Total Net Assets- October 1 388,922 Total Net Assets- September 30 $ 492,298 The notes to the financial statements are an integral part of these statements. E-33 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following summary of the more significant accounting policies of the 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 VIII Section 1 of the Florida Constitution and Section 125 of the Florida Statutes. The Board of County Commissioners, 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 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 Courts, 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 Circuit Court, the Monroe County Finance Department maintains the accounting system for the Board's operations, including those of the Clerk of Circuit Court, which is included in the General Fund, but excluding those of the Property Appraiser, Sheriff, Tax Collector and Supervisor of Elections, each of which maintains its own accounting system. Services provided by the Board and accounted for within these financial statements include police services for unincorporated areas of the County; health and social services; emergency medical services; cultural and recreational programs; solid waste services and other governmental services. Blended component units are legally separate entities that are in substance part of the 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: F-1 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Monroe County Florida Comprehensive Plan Land Authority (MCLA) - The MCLA was created by Monroe County, Florida Ordinance 031-1986 pursuant to Florida Statute 380 and is considered a legally separate entity from Monroe County. Its purpose is to operate a land acquisition program in Monroe County, to implement the Monroe County Comprehensive Plan and address issues created by it. The Monroe County Board of County Commissioners serves as the governing board 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) County, Florida Resolution pursuant to Florida Statute 1 F-2 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 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 and its discretely presented component unit. Adjustments have been made to minimize the double counting of interfund activity. These statements distinguish 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, proprietary, and fiduciary — are presented. The emphasis of fund financial statements is on major governmental and enterprise funds, each displayed in a separate column. All remaining governmental and enterprise funds are aggregated and reported as nonmajor funds. Proprietary fund operating revenues, such as charges for services, result from exchange transactions associated with the principal activity of the fund. Exchange transactions are those in which each party receives and gives up essentially equal values. Nonoperating revenues, such as subsidies and investment earnings, result from non-exchange transactions or ancillary activities. The following are reported as major governmental funds: General Fund - The General Fund is the general operating fund of the Board. All general tax revenues and other receipts that are not required either legally or by accounting principles generally accepted in the United States of America to be accounted for in other funds are accounted for in the General Fund. Fine and Forfeiture Special Revenue Fund -The Fine and Forfeiture Fund is used to account for revenues received from fines and forfeitures imposed from the commission of statutory offenses, ad valorem taxes that are transferred to the Sheriff and to account for operations of the County's court support system. Road and Bridge Special Revenue Fund -The Road and Bridge Fund is used to account for all revenues, operating expenditures and capital improvements for the construction and maintenance of roads and bridges which are not grant funded. Governmental Grants Special Revenue Fund - The Governmental Grant Fund is used to account for operating revenues and expenditures for all governmental activity of federal and state grants. F-3 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Sheriff HIDTA Grants Special Revenue Fund - The Sheriffs HIDTA Grants Fund is used to account for all revenues and expenditures for the ONDCP Programs. One Cent Infrastructure Surtax Capital Project Fund The One Cent Infrastructure Surtax Fund is used to account for capital improvements funded by the One Cent Infrastructure Surtax. Infrastructure Sales Surtax Revenue Bonds, Series 2003 Capital Proiect Fund — The Infrastructure Sales Surtax Revenue Bonds, Series 2003 Capital Project Fund is used to account for the proceeds of this bond issue. The following are reported as major enterprise funds: Municipal Service District-Waste -The Municipal Service District-Waste Fund is used to account for the operations of solid waste collection, disposal and recycling activities, as well as the closure and post closure of the landfills. Card Sound Bridge - The Card Sound Bridge Fund is used to account for the operations of Monroe County's Card Sound Toll Bridge. Key West Airport - The Key West Airport Fund is used to account for the operations of Monroe County's Key West International Airport. Marathon Airport — The Marathon Airport Fund is used to account for the operations of Monroe County's Marathon Airport. The Board also reports the following fund types: Internal Service Funds - Internal service funds are used to account for the financing of workers compensation insurance, health insurance, general liability insurance and fleet maintenance services provided by one department to other departments of the Board or to other governmental units on a cost reimbursement basis. Pension Trust Fund -The pension trust fund is used to account for assets held by the Board in a trustee capacity for a volunteer fire fighters and emergency services length of service award plan. 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. F-4 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Measurement Focus and Basis of Accounting: Government-wide, Proprietary, and Fiduciary Fund Financial Statements - The government-wide, proprietary fund, and pension trust fund financial statements use a flow of economic resources measurement focus and the accrual basis of accounting. The agency funds have no measurement focus. Revenues are recognized when earned and expenses are recognized when incurred. regardless of when the related cash flows take place. Non-exchange transactions, in which the Board gives (or receives) value without directly receiving (or giving) equal value in exchange, include 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. Governmental Fund Financial Statements - Governmental fund financial statements are a current financial resources measurement focus, and are maintained on the modified accrual basis of accounting. Revenues are recognized when they become susceptible to accrual; that is, when they become both "measurable" and "available to finance expenditures of the current period." The County considers amounts collected within 120 days after year-end to be available and thus recognizes them as revenues of the current year. 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. Revenues of the County, which are susceptible to accrual under the modified accrual basis of accounting, include property taxes, gas taxes, interest revenue, and charges for services. In applying the susceptibility-to-accrual concept to intergovernmental revenues, the legal and contractual requirements of the numerous individual programs are used as guidance. There are, however, essentially two types of these revenues. In one, monies must be expended for the specific purpose or project before any amounts will be paid to the 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. F-5 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 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. ASB Statement N . 20 Election - Pursuant to the election option made available by GASB 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 government-wide and enterprise fund financial statements. Budgets and Budgetary Data - The following are the statutory procedures followed by the Board of County Commissioners (the Board) in establishing the budget for the 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 County a proposed budget for the fiscal year commencing the following October 1. The budget includes proposed expenditures and the means of financing them. 3) By Board resolution, a tentative budget is submitted to the public. Public hearings are held to obtain taxpayer comments. 4) Fifteen days after adoption of the tentative budget, a final budget is submitted for review and adoption at a final public hearing. 5) Prior to, or on September 30, the Board's budget is legally enacted through passage of a resolution. Accordingly all fund types have an adopted budget as required by Florida Statute 129.03. All funds have legally adopted budgets. 6) During the year, the Office of Management and Budget acts on intradepartmental budget changes that do not alter the total revenue or expenditures budgeted to a cost center. A cost center represents a particular area of Board operations or a department. All other budget changes (whether they are transfers between cost centers or alterations of total revenues and 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. F-6 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 9) All governmental and proprietary funds have legally adopted budgets except for the Clerk's Modernization Trust Special Revenue Fund. 10)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 for mortgage loans made by the Comprehensive Plan Land Authority Special Revenue Fund, for which outlays in connection with financing of mortgages receivable are treated as expenditures for budgetary purposes. Such mortgages amounted to$2,200,000 in fiscal 2003. 1) All appropriations lapse at year-end. 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, 2003, represented by purchase orders and other executory contracts, were approximately $2.2 million. It is the County's intention to substantially honor these encumbrances under authority provided in the subsequent year's budget. Cash and Cash Equivalents — Cash balances for 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. The County's investment policy allows investment of surplus funds in the following investments: a) The Florida Local Government Surplus Funds Trust Fund Investment Pool (SBA). b) United States Government Securities — Negotiable direct obligations, or obligation the principal and interest of which are unconditionally guaranteed by the United States Government. c) 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. d) 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 F-7 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 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. 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. g) Intergovernmental Investment Pool — Intergovernmental Investment Pools that are authorized pursuant to the Florida Interlocal Cooperation Act, as provided in Section 163.01, Florida Statutes. The County invests funds throughout the year in SBA funds, an investment pool administered by the State Board of Administration of Florida. All investments are stated at fair value. Investments in the Local Government Surplus Funds Trust Fund Investment Pool, which is an external 2a7-like investment pool, are stated at share price, which is substantially the same as fair value. The SBA funds have fixed net values. Accounts Receivable - Amounts due from private individuals, organizations, or other governments, which pertain to charges for services rendered by County departments are reported as accounts receivable. Receivables are reviewed periodically to establish or update the provisions for uncollectible amounts. These provisions are estimated based on an analysis of the age of the various accounts. Interfund Balances and Activity - During the course of normal operations, the County has numerous transactions between funds. Examples of theses transactions include providing services, constructing assets 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 to expenditures to the funds receiving the services. Additionally, short-term interfund loans are recorded from time to time as cash flow needs arise. As of fiscal year-end, any unpaid amounts related to these transactions are reported as "due from other funds" or "due to other funds" on the fund financial statements, and "internal balances" on the government-wide 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. F-8 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Capital Assets - 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. In accordance with GASB Statement No. 34, an extended period of deferral until September 30, 2006 fiscal year end is available before the County's infrastructure assets acquired prior to October 1, 2001 are required to be reported on the government-wide financial statements of the County. The County has elected to defer reporting of certain governmental infrastructure assets acquired prior to October 1, 2001. The County maintains a $750 threshold for additions to equipment. Buildings are capitalized when the value is $15,000 or greater. Public domain and system infrastructure assets represent major expenditures for such items as roads, water and sewer treatment plants and lines, landfill improvements, parks and drainage systems. Additions and improvements for roads, water, sewer, landfill and drainage infrastructure are capitalized when the cost amounts to $250,000 while park additions and improvements are capitalized at $25,000. Depreciation has been provided using the straight-line method. The estimated useful lives of the various classes of depreciable capital assets are as follows: Life—Years Buildings 10-50 Equipment 5-10 System infrastructure 10-50 Public domain infrastructure 20-50 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. 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 2003 is included in the accompanying fund financial statements, since such taxes are collected to finance expenditures of the subsequent period. 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. A liability is recorded in the governmental fund financial statements only when the payment is probable. F-9 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 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 Board is recognizing these costs of closure and postclosure 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/Unearned Revenue - Deferred revenues include amounts collected before 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 consist primarily of contracts for providing services in the future and grant funds received in advance of expenditures. Long-Term Obligations — In the government-wide financial statements, and proprietary fund financial statements, long-term debt and other long-term obligations are reported as liabilities in the applicable governmental activities, business-type activities, or proprietary fund type statement of net assets. Bond premiums and discounts, as well as issuance costs, are deferred and amortized over the life of the bonds using the straight-line method that approximates the effective interest method. Bonds payable are reported net of the applicable bond premiums or discount. Bond issuance costs are reported as deferred charges and amortized over the term of the related debt. In fund financial statements, governmental fund types recognize bond premiums and discounts, as well as bond issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures. 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. Reclassifications — Certain amounts presented in the prior year's data have been reclassified to be consistent with the current year's presentation. Net Assets— Net assets in the government-wide and 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. Fund Balances — In the governmental fund financial statements, reservations or restrictions of fund balance represent amounts that are not appropriable or are legally segregated for a specific purpose. Designations of fund balance represent tentative management plans that are subject to change. F-10 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) The governmental fund types classify fund balances as follows: Reserved Reserved for Encumbrances - portion of fund balance available to pay for any commitments related to purchase orders and contracts that remain unperformed at year-end. Reserved for Land Acquisition — portion of fund balance used for the operation of the Comprehensive Plan of the Land Authority. Reserved for Mortgage Loans — portion of fund balance offsetting mortgages receivable for the Comprehensive Plan Land Authority Special Revenue Fund because they are not available spendable resources Unreserved Designated for Special Revenue — portion of fund balance is designated by the County in the Tourist Development Fund District I for beach nourishment projects. Undesignated - portion of total fund balance available for appropriation that is uncommitted at year-end. 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. Deposits - The carrying amount of the County's demand and time deposits was $23,484,230 at September 30, 2003. These deposits are insured by the FDIC up to $100,000 at each financial institution, and amounts in excess of $100,000 are secured by the Public Deposits Trust Fund maintained by the Chief Financial Officer of the State of Florida. The Trust Fund is a multiple financial institution pool with the ability to assess its member financial institutions for collateral shortfalls if a default or insolvency has occurred. Investments - The SBA funds are not categorized because they are not evidenced by underlying securities that exist in physical or book entry form. F-11 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 2 - CASH, CASH EQUIVALENTS AND INVESTMENTS (Continued) Cash and cash equivalents, excluding those included in fiduciary funds, consist of the following at September 30, 2003: Local Government Demand Surplus Trust Fund Deposits Total Unrestricted Cash and Cash Equivalents: Governmental Activities Governmental Funds $ 152,719,711 $21,522,032 $ 174,241,743 Internal Service Funds 14,144,472 211,197 14,355,669 Business-type Activities 21,558,084 158,708 21,716,792 Total Unrestricted Cash and Cash Equivalents 188,422,267 21,891,937 210,314,204 Restricted Cash and Cash Equivalents: Business-type Activities 1,690,264 1,592,293 3,282,557 1,690,264 1,592,293 3,282,557 Total Cash and Cash Equivalents $ 190,112,531 $23,484,230 $ 213,5965761 At September 30, 2003, the fiduciary funds had pooled cash balances totaling $492,298, with SBA and demand deposits comprising $490,448 and $1,850, respectively. At September 30, 2003, the agency funds had demand deposits totaling $7,792,474. Component Unit—At September 30, 2003, the Authority maintains deposits totaling $65,810, which are insured by the FDIC. NOTE 3—ACCOUNTS RECEIVABLE Accounts receivable, in the accompanying government-wide and fund financial statements, are shown net of the allowance for doubtful accounts. The allowance is as follows: $427,250 for nonmajor governmental funds, $589,283 for the Municipal Service District-Waste Fund, and $26,252 for the Key West Airport Fund. NOTE 4 - MORTGAGES RECEIVABLE Mortgages receivable at September 30, 2003 consist of the following: Other Governmental Funds: Local Housing Assistance Programs: 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. $ 135,411 F-12 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 4 - MORTGAGES RECEIVABLE (Continued) Second Mortgages Receivable from individuals, collateralized by personal residences. Principal payments shall be deferred for the term of the first mortgage loan, or until the date the last payment is due on the first mortgage. Interest is not charged on the mortgages unless the mortgagor is in default, in which case the interest rate is 12% per annum from the date when payment of the second is due. The entire balance of the loan is intended to be forgiven. However, in the event the home is sold, transferred, rented, refinanced or the first mortgage loan is satisfied, the entire mortgage balance is due. 2,266,616 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. 685,600 Mortgages Receivable due from individual, collateralized by personal residence, payable in annual installments of $1,500 over a ten-year period, interest free. 7,500 3,095,127 Affordable Housi c l ro rams. Second Mortgages Receivable from individuals, collateralized by land and buildings, payable in monthly installments of $3,622 including interest at 3%, final payment due March 1, 2004. 281,199 Second Mortgages Receivable from individuals, collateralized by personal residences. The entire amount of the loan will be forgiven over a ten-year period at a rate of one fifth per year, beginning on the 7th anniversary of the completion of the construction of the improvements funded by the mortgage, provided that the mortgagor complies with the mortgage covenants. 89,967 Second Mortgages Receivable from individuals, collateralized by personal residences. The entire balance of the mortgage will be forgiven over a ten-year period at a 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 1,850 free. 373,016 F-13 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 4 -MORTGAGES RECEIVABLE (Continued) Comprehensive Plan Land Authority (MCLA): First mortgages due from not-for-profit agency, collateralized by land, payable in full August 2007, interest free. 41,953 Third mortgage due from private company, collateralized by land, payable in full May 2053, interest free. 1,500,000 First mortgage due from governmental agency, collateralized by land, payable in full April 2028, interest free. 382,554 First mortgage due from governmental agency, collateralized by land and building, payable in full May 2031, interest free. 1,500,000 First mortgage due from governmental agency, collateralized by land and building, 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 First mortgage due from private company, collateralized by land, payable in full October 2052, interest free. 700,000 5,272,532, Total Mortgages Receivable $ 8,740,675 As the mortgages receivable associated with the Local Housing Assistance and Affordable Housing Programs are intended to ultimately be forgiven, an allowance for uncollectible accounts of $3,095,127 and $373,016, respectively, has been established. A reserve of fund balance of$5,272,532 represents the mortgages receivable related to the MCLA and are equally offset by a fund balance reserve, which indicates that they do not constitute "available spendable resources," even though they are a component of total assets NOTE 5— RESTRICTED ASSETS Restricted assets include those provided for the landfill escrow account and airport passenger facility charges. Total restricted assets as of September 30, 2003 are as follows: Cash and Cash Equivalents Enterprise Fund Municipal Service district Waste Landfill Closure Escrow $ 1,690,264 Enterprise Fund — Key West Airport Passenger Facility Charge Funds 1.592,293 $ 3.282.557 F-14 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 6—CAPITAL ASSETS Capital assets activity for the year ended September 30, 2003 is as follows: Beginning Ending Balances .Additions Reductions Balances Governmental activities: Governmental Funds Capital assets not being depreciated: Land $ 45,567,875 $ 3,605,726 $ (4,192,097) $ 44,981,504 Construction in progress 9,482,978 10,349,498 (10,049,422) 9,783,054 Total capital assets not being depreciated 55,050,853 13,955,224 (14,241,519) 54,764,558 Capital assets being depreciated: Buildings 95,255,351 2,089,211 (727,316) 96,617,246 Equipment 42,513,007 13,797,126 (4,785,713) 51,524,420 Infrastructure 639,463 1,212,207 (459,463) 1,392,207 Total capital assets being depreciated 138,407,821 17,098,544 (5,972,492) 149,533,873 Less accumulated depreciation for: Buildings 24,632,993 2,566,561 (532,600) 26,666,954 Equipment 24,425,086 3,992,564 (2,788,658) 25,628,992 Infrastructure 34,433 22,689 (33,422) 23,700 Total accumulated depreciation 49,092,512 $ 6,581,814 $ (3,354,680) 52,319,646 Total capital assets being depreciated,net 89,315,309 97,214,227 Total Governmental Activities,capital assets,net $ 144,366,162 $ 151,978,785 Beginning Ending Balances Additions Reductions Balances Business-type activities: Capital assets not being depreciated: Land $ 4,802,020 $ - $ - $ 4,802,020 Construction in progress 2,261,372 5,517,036 (2,209,249) 5,569,159 Total capital assets not being depreciated 7,063,392 5,517,036 (2,209,249) 10,371,179 Capital assets being depreciated: Land 214,105 - - 214,105 Buildings 14,137,948 1,787,351 (98,194) 15,827,105 Equipment 13,130,698 222,224 (9,849,895) 3,503,027 System Infrastructure 22,131,054 1,077,081 (1,910,058) 21,298,077 Total capital assets being depreciated 49,613,805 3,086,656 (11,858,147) 40,842,314 Less accumulated depreciation for: Land 214,105 - - 214,105 Buildings 2,559,342 437,104 (48,370) 2,948,076 Equipment 12,208,908 246,686 (9,751,133) 2,704,461 System Infrastructure 6,694,311 667,975 (616,678) 6,745,608 Total accumulated depreciation 21,676,666 $ 1,351,765 $ 10,416,181 12,612,250 Total capital assets being depreciated, net 27,937,139 28,230,064 Business-type activities,capital assets, net $ 35,000,531 $ 38,601,243 An additional $6,700,792 will be required to complete the construction projects under present contractual agreements as of September 30, 2003. F-15 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 6—CAPITAL ASSETS (Continued) Depreciation was charged to functions/programs on the statement of activities as follows: Governmental Activities: General Government $ 1,351,080 Public Safety 3,814,203 Physical Environment 39,414 Transportation 267,837 Economic Environment 18,561 Human Services 309,182 Culture and Recreation 378,471 Court Related 403,066 Total Governmental Activities $ 6,581,814 Business-type Activities: Municipal Service District-Waste $ 203,630 Card Sound Bridge 149,634 Key West Airport 659,430 Nonmajor Enterprise Fund 339,071 Total Business-type Activities $ 1,351,765 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. The County established new capital asset capitalization thresholds in fiscal year 2002 with the implementation of GASB Statement No. 34 "Basic Financial Statements and Management's Discussion and Analysis for State and Local Governments." The County applied the new thresholds to any asset additions in fiscal year 2002. In fiscal year 2003, the County applied the capitalization thresholds established in the prior year to existing assets and wrote off any assets below those thresholds. The write-off for the internal service funds is reported as a reduction in the beginning balance of the proprietary fund financial statements and is considered immaterial for the government-wide financial statements. The write-off for the business-type activities totals $1,185,845 and is reported as a reduction in the beginning balance of net assets in the both the government-wide and the proprietary fund financial statements of the County. F-16 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 7 - LONG-TERM DEBT The following is a summary of changes in long-term debt for the year ended September 30, 2003: Current Portion of Beginning Ending Long-term Balances Additions Payments Balances Liabilities Governmental Activities: Governmental Funds Revenue bonds payable $ 12,765,000 $ 21,455,000 $ 8,240,000 $ 25,980,000 $ 5,630,000 Revenue notes payable - 3,446,429 (6,472) 3,452,901 545,644 Loans payable 250,000 - 250,000 - - Accrued compensated absences 5,332,952 2,440,281 2,363,978 5,409,255 484,270 Capitalized lease obligations 1,100,601 37,950 440,900 697,651 431,286 Other - 5,900,000 2,500,000 3,400,000 2,000,000 Total Governmental Activities $ 19,44 ,563 $ 33,279,660 13,7 8,406 $ 38,939,807 $ 9,091,200 Business-type Activities: Revenue bond payable $ 6,140,000 $ - $ 6,140,000 $ - $ - Revenue note payable 3,960,425 (15,728) 3,976,153 302,112 Accrued compensated absences 331,806 227,056 187,706 371,156 39,946 Capitalized lease obligations 1,067,270 - 50,000 1,017,270 50,000 Total Business-type Activities $ 7,539,076 $ 4,187,481 $ 6,361,978 $ 5,364,579 $ 392,058 Total Long-Term Debt $ 26,987,629 $ 37,467,141' $ 20,150,384 $ 44,304,386 $ 9,483,258 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. Also, for governmental activities compensated absences are generally liquidated by the applicable governmental fund. F-17 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 7 - LONG-TERM DEBT(Continued) Summary of Indebtedness The following is a summary of indebtedness of the County as of September 30, 2003: Governmental Activities Revenue Bonds: Infrastructure Sales Surtax Revenue Bonds, Series 2003 $ 21,455,000 Sales Tax Refunding Revenue Bonds, Series 1998 4,525,000 Total Revenue Bonds 25,980,000 Revenue Note Guaranteed Entitlement Refunding Revenue Note, Series 3,495,144 2002 Less: Unamortized Discount (42,243) 3,452,901 Total Governmental Activities $ 29,432.901 Business-type Activities Revenue Note: Solid Waste Disposal System Refunding Revenue Note, Series $ 4,143,945 2002 Less: Unamortized Discount (167,792) Total Business-type Activities 3,976,153 F-18 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 7 - LONG-TERM DEBT (Continued) Debt Service Funding Requirements - The total annual debt service requirements for all debts outstanding at September 30, 2003 are as follows: Governmental Activities Business-type Activities Principal Interest Total Principal Interest Total 2004 $ 6,175,644 $ 954,420 $ 7,130,064 $ 323,087 $135,800 $ 458,887 2005 1,700,237 731,318 2,431,555 423,468 123,071 546,539 2006 1,740,422 691,758 2,432,180 437,909 108,385 546,294 2007 1,794,806 651,187 2,445,993 452,841 93,197 546,038 2008 1,848,265 609,355 2,457,620 468,283 77,492 545,775 2009-2013 7,580,770 2,368,956 9,949,726 2,038,357 141,928 2,180,285 2014-2018 8,635,000 1,038,730 9,673,730 - - - 29,475,144 7,045,724 36,520,868 4,143,945 679,873 4,823,818 Less: Unamortized Costs (42,243) - (42,243) (167,792) - (167,792) $ 29,432,901 $ 7,045,724 $ 36,478,625 $ 3,976,153 $679,873 $4,656,026 At September 30, 2003, the current portion of the unamortized discount totals $20,975. Long-Term Debt at September 30, 2003 is composed of the following issues: $21,455,000 Infrastructure Sales Surtax Revenue Bonds Series 2003 Type: General Government Revenue Bonds Dated: March 2003 Final maturity: Year 2018 Principal payment date: April 1 Interest payment dates: April 1 and October 1 Interest rates: 2.0%to 4.0% Amount outstanding at September 30th: $21,455,000 Reserve requirement: None; MBIA insured. Revenue pledged: One Cent Local Government Infrastructure Sales Surtax 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. F-19 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 7 - LONG-TERM DEBT (Continued) $17,505,000 Sales Tax Refunding Revenue Bonds, Series 1998 Type: General Government Revenue Bonds Dated: October 1998 Final maturity: Year 2004 Principal payment date: October 1 Interest payment dates: April 1 and October 1 Interest rates: 2.0%to 4.0% Amount outstanding at September 30th: $4,525,000 Reserve requirement: None; MBIA insured. Revenue pledged: One Cent Local Government Infrastructure Sales Surtax. Purpose: To refund Sales Tax Revenue Bonds, Series 1991. Call provisions: None $3,495,144 Solid Waste System Refunding Revenue Note, Series 2002 Type: General Government Revenue Note Dated: December 2002 Final maturity: Year 2009 Principal payment date: December 1 Interest payment dates: June 1 and December 1 Interest rates: 2.96% Amount outstanding at September 30th: $3,452,901 Reserve requirement: None. Revenue pledged: Lien and pledge of Guaranteed Entitlement and Second Guaranteed Entitlement from the State Revenue Sharing Trust Fund provided by Chapter 219, Florida Statutes. Purpose: To refund on a current basis the$7,230,000 Monroe County, Florida Refunding Revenue Bonds, Series 1993. Call provisions: No prepayment penalty. Bank requires 10 days notice. $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: $3,976,153 Reserve requirement: None on Note. Revenue pledged: Gross revenues from the solid waste disposal, collection and management systems. 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. F-20 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 7 - LONG-TERM DEBT (Continued) Other Long-Term Debt On February 19, 2003, the County approved a settlement agreement pertaining to a land use lawsuit. The agreement requires that the County make payments totaling $5,900,000 to the plaintiffs. The first payment was made March 14, 2003 in the sum of $2,500,000. The second and third payments of $2,000,000 and $1,400,000, respectively, will be made on or before February 16, 2004 and on or before February 16, 2005. It is anticipated that Infrastructure Sales Tax Revenues will be available to fund the payments. Refunding of Debt On December 19, 2002 the County issued $3,495,144 Monroe County, Florida, Solid Waste Disposal System Refunding Note, Series 2002, for the purpose of refunding the $7,230,000 Monroe County, Florida Refunding Revenue Bonds, Series 1993, with $3,880,000 outstanding. Interest on the Series 2002 refunding notes is payable semiannually on June 1 and December 1 at a fixed rate of 2.96%. The maturity of the refunding notes is December 1, 2009. The refunding transaction results in cash flow savings of the next 7 years of $159,301. The present value debt service savings discounted at 2.96% is $145,741. On December 19, 2002 the Board issued $4,143,945 Monroe County, Florida, Solid Waste Disposal System Refunding Revenue Note, Series 2002 for the purpose of refunding the $9,570,000 1991 Municipal Service District Refunding Improvement Bonds with $6,140,000 outstanding. Interest on the Series 2002 refunding revenue note is payable semiannually on October 1 and April 1 at a fixed rate of 3.41%. The maturity of the refunding notes is October 1, 2012. The refunding transaction results in cash flow savings of the next 10 years of $1,136,974. The present value debt service savings discounted at 3.41% is $782,530. NOTE 8 - 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 the outstanding principal on refunded bonds, by issue, as of September 30, 2003: $2,155,000 Refunding Improvement Revenue Bonds, Series 1983; defeased on January 1, 1993 using proceeds from the Refunding Improvement Revenue Bonds, Series 1993/83 $ 1,160,000 $5,000,000 Improvement Revenue Bonds, Series 1988; defeased on May 1, 1993 using proceeds from the Refunding Revenue Bonds, Series 3,280,000 1993/88 $42,415,000 1991 Sales Tax Revenue Bonds, Series 1991; partially defeased on February 5, 1998 using proceeds from the Sales Tax Refunding Revenue Bonds, Series 1998 4,595,000 Total Governmental Activities =Mau F-21 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 8 - DEFEASANCE OF DEBT (Continued) $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 $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 5,310,000 $4,585,000 Card Sound Road and Bridge Improvement Revenue Bonds, Series 1993; defeased on March 8, 1994 using available cash 2,065,000 Total Business—type Activities $12,745,000 NOTE 9 - 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, 2003: Governmental Business-type Activities Activities Fiscal year ending September 30: 2004 $ 483,505 $ 50,000 2005 239,955 50,000 2006 4,880 50,000 2007 - 50,000 2008 - 50,000 2009-2013 - 250,000 2014-2018 - 250,000 2019-2023 - 250,000 2024 - 17,270 Total minimum payments 728,340 1,017,270 Amounts representing interest (30,689) - Present value of net minimum lease payments $ 697,651 $ 1,017,270 F-22 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 9 - LEASE OBLIGATIONS (Continued) Leased property which has been capitalized as of September 30, 2003 is as follows: Governmental Business-type Activities Activities Equipment $ 1,935,059 $ 2,335,830 Less: Accumulated Depreciation (231,005) (2,335,830) $ 1,704,064 $ Rental expense under cancelable operating leases for the current year amounted to $908,396. The City of Key West leases two properties with a cost of$441,073 from the MCLA. These properties, which are included in capital assets, are used to provide parking and city recreational facilities. The terms of the leases provide for rental of $1 per year for 30 years, expiring in the year 2022. Monroe County provides the MCLA's office space at no cost. The remainder of this page was intentionally left blank. F-23 a a� •� c O O M y U -0 o 0 ,_ CY) N O O o n O W o ao CO n n M O 0 O IQMrnoocl L M N CPI � oTnN oc w _ O O CO O CO cD 0 v v N O T N O N � � � O) O � O � N CD N N It M n cam! L (s «» N p O 'O w8 � � C E N N L C N a) yy 61% L =_ o L ° to (D C O M N co O >aNi 7 n O 0) L co fnCN mQ O 'O Vc Z co 63 (fl te v7 m C e} U) 2 G W O COO M � � � i 0 0 � � c`O') n M Q' U 0i W m O O n o O N O M 0) cc 0 F- (n c CC) O J Q W cc U. 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NOTE 12 - 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 $350,000 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 Board purchases commercial insurance for claims in excess of coverage provided by the funds and for all other risks of loss. Settled claims have not exceeded this commercial coverage in any of the past three years. F-25 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 12 - RISK MANAGEMENT (Continued) 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, 2003 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 2002 and 2003 were: Workers Group Risk Compensation Insurance Management Total Balance at September 30, 2001 $ 1,000,000 $ 2,912,855 $ 1,890,678 $ 5,803,533 Current year claims and changes in estimates 1,929,819 11,544,484 43,733 13,518,036 Claim payments (2,029,819) (11,000,581) (295,561) (13,325,961) Balance at September 30, 2002 900,000 3,456,758 1,638,850 5,995,608 Current year claims and changes in estimates 1,198,011 13,091,270 147,617 14,436,898 Claim payments (1,098,011) (12,502,537) (245,714) (13,846,262) Balance at September 30, 2003 $ 1,000,000 $ 4,045,491 $ 1,540,753 $ 6,586,244 NOTE 13 - RETIREMENT PLAN Florida Retirement Svstem: Plan Description — Substantially all full-time County employees are participants in the Florida Retirement System, (FRS), a multiple-employer, cost-sharing public employees retirement system administered by the Florida Department of Administration. As a general rule, membership in the FRS is compulsory for all employees working in a regularly established position for a state agency, county government, district school board, state university, community college or participating city or special district within the State of Florida. The FRS provides retirement and disability benefits, annual cost-of living adjustments, and death benefits to plan members and beneficiaries. Benefits are established by Chapter 121, Florida Statutes, and Chapter 605, Florida Administrative Code. Amendments to the law can be made only by Act of the Florida legislature. F-26 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 13 - RETIREMENT PLAN (Continued) 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. 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, 7.39%, special risk employees, 18.53%,special risk administrative support 9.92%; elected officials, 15.23%, and senior management 9.37%. The County contributed to the plan an amount equal to 6.87% of covered payroll during the fiscal year ended September 30, 2003. The County's contributions made during the years ended September 30, 2003, 2002, and 2001 were $6,097,710, $5,998,212, and $6,553,546, respectively, equal to the required contribution requirements for each year. Therefore, the County does not have a pension asset or liability as determined in accordance with GASB Statement No.27. NOTE 14 — 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 administered by the Board. LOSAP provides retirement and death benefits to plan members and beneficiaries. Monroe County Ordinance 026-1999 defines the authority under which contribution and benefit provisions may be amended. This authority is presently held by the County. LOSAP had 192 participants for the plan year ended December 31, 2002. Separate, stand-alone financial statements for LOSAP are not provided. F-27 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 14 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES (Continued) Funding Policy — The contribution requirements for plan members and the County are established and may be amended by the Board. Plan members are not required to contribute. The County contributes an amount determined by an actuarial study. Benefits are calculated based on years of service as the participants are unpaid volunteers. The current contribution rate is $402 per volunteer year of service. Benefits and refunds paid to participants are recorded when due and payable in accordance with the terms of LOSAP. Annual Pension Cost and Net Pension Obligation Annual Required Contribution $ 89,437 Interest Adjustment - Contributions Made (89,437) Increase in Net Pension Obligation Net Pension Obligation, beginning of year - Net Pension Obligation, end of year $ The annual required contribution for the past year was determined as part of the December 31, 2002 actuarial valuation using a variation of the aggregate actuarial cost method. This method does not identify or separately amortize unfunded actuarial liabilities. The actuarial assumptions included (a) 5.0% investment rate of return (b) no assumption for mortality pattern as it is inapplicable (c) no assumption for salary increases as benefits are not based on compensation and (d) no increase for inflation as benefits are based on a flat amount per year of service. The actuarial value of assets includes only the fair value of the assets. There was no unfunded actuarial accrued liability at December 31, 2002. Three Year Trend Information Annual Pension Cost Percentage of APC Net Pension Fiscal Year Ending (APC) Contributed Obligation 12/31/00 $ 160,684 100% $ - 12/31/01 $ 66,250 100% $ - 12/31/02 $ 89,437 100% $ - F-28 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 15 - POST RETIREMENT BENEFITS OTHER THAN PENSION In addition to the retirement plan described in the previous note, the County provides post retirement health care benefits in accordance with state statutes, to all employees who retire from the County with at least 10 years of service and have attained the age of 62; and who are enrolled in the County's group health plan. Currently 285 retirees are eligible for this post employment benefit. Expenditures for post retirement health care benefits, excluding claims, are recognized as the premiums are paid. During the year ended September 30, 2003 expenditures of$1,944,235 were recognized for post retirement health care. NOTE 16— RECOGNITION OF CLOSURE AND POST CLOSURE COST As described in Note 1, current regulations of the U.S. Environmental Protection Agency (EPA) and the Florida Department of Environmental Protection (FDEP) require municipal solid waste landfills to place a final cover on closed landfill areas, and to maintain those areas for up to 30 years after closure. The County periodically obtains updated and revised estimates of total future closure and postclosure costs from its consulting engineers. All amounts recognized are based upon what it would cost to perform closure and postclosure 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, 2003, the estimated future cost for postclosure maintenance, which is reported as a long-term liability in the Municipal Service District-Waste enterprise fund, totaled $360,875. For the public landfill, accounted for in the Municipal Service District-Waste enterprise fund, expenses associated with the final closure and postclosure 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. F-29 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 16— RECOGNITION OF CLOSURE AND POST CLOSURE COST(Continued) 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$1,690,264 held for these purposes at September 30, 2003. In the event closure escrows and interest earnings prove inadequate due to inflation, changes in technology or additional post closure care requirements, these costs may need to be covered by charges to service users. NOTE 17—OPERATING LEASES The County leases certain office space, equipment and vehicles under operating lease agreements. The following is a schedule by years of minimum future rentals under noncancelable operating leases as of September 30, 2003: Year Ending September 30th 2004 $ 2,012,860 2005 1,655,735 2006 1,556,127 2007 1,368,834 2008 1,237,452 Thereafter 7,109,649 Total $ 14,940,657 NOTE 18 - 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 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. The County has estimated that there will be no significant liability for arbitrage rebate. F-30 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2003 NOTE 19 -COMMITMENTS AND CONTINGENCIES (Continued) 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 noncommencement of construction. NOTE 20—CONDUIT DEBT Industrial Development Bonds - By resolution adopted February 21, 1995, the Board authorized the issuance of $3,400,000 of Industrial Development Revenue Bonds for the North Key Largo Utility Corporation Project. The bonds were subsequently issued March 9, 1995 and are secured by a mortgage on certain real estate owned by The North Key Largo Utility Corporation. These bonds do not constitute an obligation of the Board and mature March 2025. IDA Health Care Facilities Revenue Bonds Series 2003 - The Monroe County Industrial Development Authority approved the issuance of IDA Health Care Facilities Revenue Bonds, Series 2003, not to exceed $2,500,000 and for a loan by the Authority to the Guidance Clinic of the Middle Keys, Inc. to provide for the refinancing of certain outstanding indebtedness of the corporation and for financing certain capital improvements to the corporations 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. NOTE 21 —SUBSEQUENT EVENT On December 17, 2003, the County approved Ordinance No. 045-2003 authorizing the issuance by the County of an amount not to exceed $5,000,000 in aggregate principal amount of taxable wastewater improvement assessment bonds (Stock Island Area), Series 2004. NOTE 22 — EXCESS OF EXPENDITURES OVER APPROPRIATIONS Expenditures exceeded appropriations for the following Sheriffs funds: HIDTA Grants Fund, Federal Forfeiture Fund, Federal Asset Sharing Program Fund, Off-Duty Fund, Airport Services Fund, Grants Fund, and Inmate Commissary Fund during the year ended September 30, 2003. These over-expenditures were funded by greater than anticipated revenues and/or carry- forward fund balances. F-31 MONROE COUNTY, FLORIDA ONE CENT INFRASTRUCTURE SURTAX CAPITAL PROJECT FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 10,500,000 $ 10,500,000 $ 12,884,890 $ 2,384,890 Fines and Forfeitures - 1,659,087 - (1,659,087) Investment Income 700,000 700,000 526,047 (173,953) Miscellaneous - - 409 409 Total Revenues 11,200,000 12,859,087 13,411,346 552,259 EXPENDITURES: Current: Transportation: Construction Management 416,233 416,233 301,919 114,314 Capital Outlay: General Government: Vehicle Replacement 11,830 11,830 - 11,830 General Government Projects 9,699,228 9,165,476 457,730 8,707,746 Total General Government 9,711,058 9,177,306 457,730 8,719,576 Public Safety: Fire Facility Projects 1,772,036 1,269,290 339,459 929,831 Old Mariners Hospital - 1,659,087 36,202 1,622,885 Sheriff Facility Project 100,000 120,000 638 119,362 Islamorada Emergency Vehicle 285,000 285,000 - 285,000 Total Public Safety 2,157,036 3,333,377 376,299 2,957,078 Physical Environment: Physical Environment 7,200,000 7,217,500 4,685,741 2,531,759 Breezeswept - 137,000 77,815 59,185 Total Physical Environment 7,200,000 7,354,500 4,763,556 2,590,944 Human Services 2,000,000 500,000 481,984 18,016 Culture and Recreation 1,820,000 1,991,612 256,847 1,734,765 Total Capital Outlay 22,888,094 22,356,795 6,336,416 16,020,379 Total Expenditures 23,304,327 22,773,028 6,638,335 16,134,693 G-1 (Continued) MONROE COUNTY, FLORIDA ONE CENT INFRASTRUCTURE SURTAX CAPITAL PROJECT FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL-CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Excess/deficiency of Revenues Over/(Under) Expenditures (12,104,327) (9,913,941) 6,773,011 16,686,952 Other Financing Sources/(Uses): Reserve for Contingencies (2,400,000) (1,049,139) - 1,049,139 Transfers from Other Funds - - 75,541 75,541 Transfers to Other Funds (4,797,184) (8,338,431) (7,064,640) 1,273,791 Total Other Financing Sources/(Uses) (7,197,184) (9,387,570) (6,989,099) 2,398,471 Net Change in Fund Balances (19,301,511) (19,301,511) (216,088) 19,085,423 Fund Balances, October 1 35,026,027 35,026,027 35,026,027 - Fund Balances, September 30 $ 15,724,516 $ 15,724,516 $ 34,809,939 $ 19,085,423 G-2 MONROE COUNTY, FLORIDA INFRASTRUCTURE SALES SURTAX REVENUE BONDS, SERIES 2003 CAPITAL PROJECTS FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 151,671 $ 151,671 EXPENDITURES: Current: Capital Outlay: General Government: General Government Projects 1 - 300,000 2,995 297,005 General Government Projects II - 11,498,881 - 11,498,881 Total General Government - 11,798,881 2,995 11,795,886 Public Safety: Public Safety Projects 1 2,620,000 72,478 2,547,522 Public Safety Projects II - 3,900,000 - 3,900,000 Total Public Safety - 6,520,000 72,478 6,447,522 Human Services: Human Service Projects 1 - 300,000 140,384 159,616 Human Service Projects II - 2,300,000 - 2,300,000 Total Human Services - 2,600,000 140,384 2,459,616 Total Capital Outlay - 20,918,881 215,857 20,703,024 Excess/deficiency of Revenues Over/(Under) Expenditures - (20,918,881) (64,186) 20,854,695 Other Financing Sources/(Uses): Debt Proceeds - 20,918,881 20,950,000 31,119 Net Change in Fund Balances - - 20,885,814 20,885,814 Fund Balances, October 1 - - - - Fund Balances, September 30 $ - $ - $ 20,885,814 20,885,814 G-3 NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS AFFORDABLE HOUSING PROGRAMS To account for revenues and expenditures of various low income housing programs. LAW LIBRARY To account for all revenues and expenditures for the Counh/m law library. TOURIST DEVELOPMENT DISTRICTS To account for the local option three cent bed tax in five district funds and an Administrative and Promotional Fund for the expenditures of advertising, pnonnodiono, 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 nocreadon. Ubnariao, solid waste, police facilities and fire and EMS. FIRE AND AMBULANCE DISTRICTS To account for revenues and expenditures in districts 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 Tb account for all revenues and expenditures for planning, building and zoning and parks and recreation services provided only to the unincorporated areas of the County. MUNICIPAL POLICING To account for all revenues and expenditures for local road patrol law enforcement in the City of Marathon, City nf Layton and |s|anlmrada.Village OfIslands. 911 ENHANCEMENT FEES To account for fees levied on each telephone access line in Monroe County for the enhancement of the B11 emergency telephone system. DUCK KEY SECURITY DISTRICT To account for the revenues and expenditures in providing security services for the Duck Key District. LOCAL HOUSING ASSISTANCE To account for the revenues and mupwnd8un»a for the administration and implementation of the State Housing Initiatives Partnership Program. BOATING IMPROVEMENTS To account for revenues and expenditures for providing boat-related activities, for removal of vessels and floating structures deemed a hazard to public safety and health, and for manatee and marine mammal protection and recovery. MISCELLANEOUS SPECIAL REVENUE To account for revenues and expenditures earmarked for specific purposes. ENVIRONMENTAL RESTORATION To account for all revenues and expenditures for fines/fees collected and earmarked for environmental restoration. (Continued) NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS-CONTINUED 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 oJcrime, COURT FACILITY FEES To account for revenues collected upon the institution of any civil action, suit or proceeding hmbeused 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 todisburse 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, COMPREHENSIVE LAND AUTHORITY To account for the revenues and expenditures for purchasing unbuildable, recreational and conservational property and repackaging the property to meet the land use requirements. SHERIFF'S INMATE COMMISSARY To account for the revenues and expenditures of inmate telephone commissions, canteen revenues and other inmate programs. SHERIFF'S IMPACT SUPPORT TV account for the revenues and expenditures relating tmthe administration ofthe South Florida Drug & Money Laundering Task Force. SHERIFF'S OFF-DUTY To account for the revenues,expenditures and related reimbursements for law enforcement services provided ho other organizations. SHERIFF'S GRANTS To account for the revenues and expenditures relating to various grants. SHERIFF'S TEEN COURT To account for the revenues and expenditures pertaining to a program designed to deter juveniles who are becoming involved in crime. SOUTH FLORIDA LAW ENFORCEMENT TRUST Tn account for the revenues and expenditures pertaining hl South Florida Drug &Money Laundering Task Force. SHERIFF'S SHARED ASSET FORFEITURE To account for the revenues and expenditures ofthe Sheriff Department's shared asset forfeiture program. SHERIFF'S FORFEITURE To account for the Sheriff's revenues produced from forfeitures and expenditures in the prevention, investigation, detection and identification Vfcrime. (Continued) NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS -CONTNNUED SHERIFF'S HIDTA ADMINISTRATIVE 7o account for the revenues of service fees collected for administering HIDTAgrants. Expenditures relate b}the costs of administering the grants, 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 FINE AND FORFEITURE To account for the proceeds from state forfeitures received primarily from the South Florida Drug and Money Laundering Task Force. SHERIFF'S KEY WEST SCHOOL CROSSING GUARD To account for receipts and disbursements relating to school crossing guard services provided to the City of Key West. CLERK'S MODERNIZATION TRUST FUND 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. DEBT SERVICE FUNDS To account for accumulation of resources for, and payment of, interest and principal on the long-term debt incurred in the refunding of the 1988A& B Improvement Bonds. SALES TAX REVENUE AND REFUNDING BONDS To account for accumulation of resources for, and payment of, interest and principal on the long-term debt incurred in the building of the new Monroe County Detention Facility. CLERK'S REVENUE NOTE To account for accumulation of resources for, and payment of, interest and principal on the long-term debt incurred for the Clerk's network system. INFRASTRUCTURE SALES SURTAX REVENUE BONDS—2003 To account for accumulation of resources for, and payment of, interest and principal on the long-term debt incurred in the acquisition, construction and renovation of various capital improvements and associated issuance costs, CAPITAL PROJECT FUNDS SALES TAX BOND CAPITAL IMPROVEMENTS To account for capital improvements allocated from the Sales Tax Bond. CLERK'S REVENUE NOTE To account for the Clerk's network system from the Florida Local Government Finance Commission Loan. MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2003 SPECIAL Tourist Tourist Affordable Development Development Housing Law All Districts Admin&Promo Programs Library Two Cent Two Cent ASSETS Cash and Cash Equivalents $ 271,105 $ 29,424 $ 3,488,700 $ 3,570,916 Accounts Receivable, Net - 58 - 267 Due from Other Funds - - - - Due from Other Governmental Units - 3,825 219,097 454,012 Mortgages Receivable 373,016 - - - Allowance for Mortgage Receivable (373,016) - - - Interest Receivable - - - - Total Assets $ 271,105 $ 33,307 $ 3,707,797 $ 4,025,195 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ - $ 2,338 $ 327,405 $ 281,116 Retainage Payable - - - - Accrued Wages and Benefits Payable - 2,138 198 3,174 Due to Other Funds - - 27,897 76,409 Due to Other Governmental Units - - 2,411 33 Accrued Camp. Absences Payable - 778 27 437 Other Current Liabilities - - - - Deposits in Escrow - - - Deferred Revenues - - - - Accrued Interest Payable - - - - Total Liabilities - 5,254 357,938 361,169 Fund Balances: Reserved for: Encumbrances - - - - Land Acquisition - - - - Mortgage Loans - - - - Debt Service - - - - Unreserved, Designated for Special Revenue Fund - - - - Unreserved, Undesignated 271,105 28,053 3,349,859 3,664,026 Total Fund Balances 271,105 28,053 3,349,859 3,664,026 Total Liabilities and Fund Balances $ 271,105 $ 33,307 $ 3,707,797 $ 4,025,195 H-1 REVENUE FUNDS Tourist Tourist Tourist Tourist Tourist Development Development Development Development Development District#One District#Two District#Three District#Four District#Five Impact Fees, Three Cent Three Cent Three Cent Three Cent Three Cent Roadways $ 3,938,468 $ 504,091 $ 932,673 $ 886,530 $ 661,718 $ 6,814,336 172,204 16,667 52,880 45,167 49,637 - $ 4,110,672 $ 520,758 $ 985,553 $ 931,697 $ 711,355 $ 6,814,336 $ 429,132 $ 50,461 $ 26,823 $ 10,152 $ 52,161 $ - 2,304 1,156 66 77 2,253 - 25,331 3,818 7,052 8,108 6,748 - - - 12,855 12,431 - - 757 496 9 11 1,919 - 457,524 55,931 46,805 30,779 63,081 - 398,074 - - - - - 3,255,074 464,827 938,748 900,918 648,274 6,814,336 3,653,148 464,827 938,748 900,918 648,274 6,814,336 $ 4,110,672 $ 520,758 $ 985,553 $ 931,697 $ 711,355 $ 6,814,336 (Continued) H-2 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET-CONTINUED NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2003 SPECIAL Impact Fees, Impact Fees, Parks and Impact Fees, Impact Fees, Police Recreation Libraries Solid Waste Facilities ASSETS Cash and Cash Equivalents $ 1,008,377 $ 453,739 $ 169,347 $ 193,422 Accounts Receivable, Net - - - - Due from Other Funds - - - - Due from Other Governmental Units - - - - Mortgages Receivable - - - - Allowance for Mortgage Receivable - - - - Interest Receivable - - - - Total Assets $ 1,008,377 $ 453,739 $ 169,347 $ 193,422 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ - $ 4,132 $ - $ 4,635 Retainage Payable - - - 33,628 Accrued Wages and Benefits Payable - - - - Due to Other Funds - - - - Due to Other Governmental Units - - - - Accrued Comp. Absences Payable - - - - Other Current Liabilities - - - - Deposits in Escrow - - - - Deferred Revenues - - - - Accrued Interest Payable - - - - Total Liabilities - 4,132 - 38,263 Fund Balances: Reserved for: Encumbrances - - - - Land Acquisition - - - - Mortgage Loans - - - - Debt Service - - - - Unreserved, Designated for Special Revenue Funi - - - - Unreserved, Undesignated 1,008,377 449,607 169,347 155,159 Total Fund Balances 1,008,377 449,607 169,347 155,159 Total Liabilities and Fund Balances $ 1,008,377 $ 453,739 $ 169,347 $ 193,422 H-3 REVENUE FUNDS Fire &Amb Upper Keys Unincorp. Unincorp. District#1, Health Care Fire&Amb Area Service Area Service Impact Fees, Lower and Special District#6, District, Dist., Planning, Fire & EMS Middle Keys Taxing District Key Largo Parks & Rec. Bldg. & Zoning $ 251,355 $ 2,241,079 $ 2,826,870 $ 691,823 $ 839,816 $ 11,121,051 - 368,936 - - - 606 65,603 11,883 14,035 382,471 $ 251,355 $ 2,675,618 $ 2,826,870 $ 703,706 $ 853,851 $ 11,504,128 $ - $ 107,101 $ 2,502 $ 74,766 $ 19,282 $ 208,923 166,697 2,994 2,222 26,536 219,107 749,413 28,254 156,042 408,015 890,388 570 - 941 1,818 1,406 30,039 375 8,571 35,598 581 - - 6 6,120 1,054,401 33,750 234,346 464,222 1,361,548 3,411 - 91,768 - 147,718 251,355 1,617,806 2,793,120 377,592 389,629 9,994,862 251,355 1,621,217 2,793,120 469,360 389,629 10,142,580 251,355 $ 2,675,618 $ 2,826,870 $ 703,706 $ 853,851 $ 11,504,128 (Continued) H-4 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET-CONTINUED NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2003 SPECIAL 911 Duck Key Local Municipal Enhancement Security Housing Policing Fees District Assistance ASSETS Cash and Cash Equivalents $ 1,349,274 $ 426,310 $ 141,582 $ 1,777,025 Accounts Receivable, Net - 27,462 - - Due from Other Funds - - - - Due from Other Governmental Units 201,131 19,948 989 57,397 Mortgages Receivable - - - 3,095,127 Allowance for Mortgage Receivable - - - (3,095,127) Interest Receivable - - - 43,186 Total Assets $ 1,550,405 $ 473,720 $ 142,571 $ 1,877,608 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ - $ 13,509 $ 5,350 $ 225 Retainage Payable - - - - Accrued Wages and Benefits Payable - 2,606 - - Due to Other Funds 97,600 - - - Due to Other Governmental Units 3 - - 1,428 Accrued Comp. Absences Payable - 662 - - Other Current Liabilities - - - Deposits in Escrow - - - Deferred Revenues - - - - Accrued Interest Payable - - - - Total Liabilities 97,603 16,777 5,350 1,653 Fund Balances: Reserved for: Encumbrances - - - - Land Acquisition - - - - Mortgage Loans - - - - Debt Service - - - - Unreserved, Designated for Special Revenue Fun( - - - - Unreserved, Undesignated 1,452,802 456,943 137,221 1,875,955 Total Fund Balances 1,452,802 456,943 137,221 1,875,955 Total Liabilities and Fund Balances $ 1,550,405 $ 473,720 $ 142,571 $ 1,877,608 H-5 REVENUE FUNDS Miscellaneous Law Court Drug Boating Special Environmental Enforcement Facility Abuse Improvement Revenue Restoration Trust Fees Trust $ 778,581 $ 1,967,234 $ 69,282 $ 254,012 $ 792,705 $ 57,732 - 319 - - - - 5,000 - - - - - 38,895 30,426 - 74,578 3,945 1,120 $ 822,476 $ 1,997,979 $ 69,282 $ 328,590 $ 796,650 $ 58,852 $ 50,506 $ 11,266 $ - $ - $ - $ - 6,675 - _ _ - 3,764 - 53,095 - - 36,271 - - - - 57,181 51,301 - 53,095 - - 765,295 1,946,678 8 69,282 275,495 796,650 58,852 765,295 1,946,678 69,282 275,495 796,650 58,852 $ 822,476 $ 1,997,979 $ 69,282 $ 328,590 $ 796,650 $ 58,852 (Continued) H-6 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET-CONTINUED NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2003 SPECIAL Comprehensive Sheriffs Plan Land Inmate Impact Sheriff's Authority Commissary Support Off-Duty ASSETS Cash and Cash Equivalents $ 11,936,554 $ 189,939 $ - $ 2,185 Accounts Receivable, Net - - - - Due from Other Funds - 7,022 96,651 - Due from Other Governmental Units 271,608 30,612 3,349 19,742 Mortgages Receivable 5,272,532 - - - Allowance for Mortgage Receivable - - - - Interest Receivable - - - - Total Assets $ 17,480,694 $ 227,573 $ 100,000 $ 21,927 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ 4,298 $ 6,034 $ - $ - Retainage Payable - - - - Accrued Wages and Benefits Payable - - - - Due to Other Funds - 63,235 - 19,742 Due to Other Governmental Units - 809 - - Accrued Camp. Absences Payable - - - Other Current Liabilities - - - - Deposits in Escrow - - - Deferred Revenues - - 100,000 - Accrued interest Payable - - - - Total Liabilities 4,298 70,078 100,000 19,742 Fund Balances: Reserved for: Encumbrances - - - - Land Acquisition 2,651,655 - - - Mortgage Loans 5,272,532 - - - Debt Service - - - - Unreserved, Designated for Special Revenue Fun( - - - - Unreserved, Undesignated 9,552,209 157,495 - 2,185 Total Fund Balances 17,476,396 157,495 - 2,185 Total Liabilities and Fund Balances $ 17,480,694 $ 227,573 $ 100,000 $ 21,927 H-7 REVENUE FUNDS South Florida Sheriffs Law Shared Sheriffs Sheriff s Sheriffs Sheriffs Enforcement Asset Federal HIDTA Grants Teen Court Trust Forfeiture Forfeiture Administrative $ - $ - $ 113,315 $ 4,707,113 $ 6,080,917 $ - 2,273 53,356 - - - 43,777 73,158 8,030 - - - - - - - 134,221 - - $ 75,431 $ 61,386 $ 113,315 $ 4,841,334 $ 6,080,917 $ 43,777 $ - $ - $ - $ - $ 616,257 $ - 68,208 - - - 161,017 - 508 - - - 187,019 - 78,935 - 68,716 - - - 1,043,228 - 6,715 61,386 113,315 4,841,334 5,037,689 43,777 6,715 61,386 113,315 4,841,334 5,037,689 43,777 $ 75,431 $ 61,386 $ 113,315 $ 4,841,334 $ 6,080,917 $ 43,777 (Continued) H-8 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET-CONTINUED NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2003 SPECIAL Sheriff s Sheriffs Sheriffs Sheriffs KW Airport Law Enforce- Fine & School Crossing Services ment Trust Forfeiture Guard Fund Fund Fund Fund ASSETS Cash and Cash Equivalents $ - $ 438 $ 74,540 $ - Accounts Receivable, Net - - - - Due from Other Funds - - 438 - Due from Other Governmental Units 348,773 74,922 18,073 32,936 Mortgages Receivable - - - - Allowance for Mortgage Receivable - - - - Interest Receivable - - - - Total Assets $ 348,773 $ 75,360 $ 93,051 $ 32,936 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ - $ - $ 181 $ - Retainage Payable - - - - Accrued Wages and Benefits Payable - - - - Due to Other Funds 348,773 48,685 410 - Due to Other Governmental Units - 26,675 92,460 32,936 Accrued Comp. Absences Payable - - - - Other Current Liabilities - - - - Deposits in Escrow - - - - Deferred Revenues - - - - Accrued Interest Payable - - - - Total Liabilities 348,773 75,360 93,051 32,936 Fund Balances: Reserved for: Encumbrances - - - - Land Acquisition - - - - Mortgage Loans - - - - Debt Service - - - Unreserved, Designated for Special Revenue Funi - - - - Unreserved, Undesignated - - - - Total Fund Balances - - - - Total Liabilities and Fund Balances $ 348,773 $ 75,360 $ 93,051 $ 32,936 H-9 REVENUE FUNDS DEBT SERVICE FUNDS Clerk's 1993 1991 Sales Tax Infrastructure Modernization Total Nonmajor Refunding Revenue & Clerk's Sales Surtax Trust Special Revenue Improvement Refunding Revenue Revenue Bonds, Fund Funds Bonds-1988 Bonds Note Series 2003 $ 385,340 $ 71,998,918 $ 501,303 $ 1,618,053 $ 1,043 $ 919,165 - 397,648 - - - - - 208,517 - - - - - 2,797,113 - - - - - 8,740,675 - - - - - (3,468,143) - - - - - 177,407 - - - - $ 385,340 $ 80,852,135 $ 501,303 $ 1,618,053 $ 1,043 $ 919,165 $ - $ 2,308,555 $ - $ - $ - $ 2,374 - 33,628 - - - - - 431,528 - - - - - 3,201,820 - - - - - 431,162 - - - - - 79,679 - - - - - 587 - - - - - 78,935 - - - - - 142,391 - - - - - - - 87,672 - 346,531 - 6,708,285 - 87,672 - 348,905 - 242,897 - - - - - 2,651,655 - - - - - 5,272,532 - - - - - 501,303 1,530,381 1,043 570,260 - 398,074 - - - - 385,340 65,578,692 - - - - 385,340 74,143,850 501,303 1,530,381 1,043 570,260 $ 385,340 $ 80,852,135 $ 501,303 $ 1,618,053 $ 1,043 $ 919,165 (Continued) H-10 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET-CONTINUED NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 200 CAPITAL PROJECTS FUND Total Sales Tax Total Debt Bond Clerk's Capital Service Capital Revenue Project Funds Improvements Note Funds ASSETS Cash and Cash Equivalents $ 3,039,564 $ - $ 354,428 $ 354,428 Accounts Receivable, Net - - - - Due from Other Funds - - - - Due from Other Governmental Units - - - - Mortgages Receivable - - - - Allowance for Mortgage Receivable - - - - Interest Receivable - - - - Total Assets $ 3,039,564 $ - $ 354,428 $ 354,428 LIABILITIES AND FUND BALANCE Liabilities: Accounts Payable $ 2,374 $ - $ - $ - Retainage Payable _ _ Accrued Wages and Benefits Payable - - - - Due to Other Funds - - - - Due to Other Governmental Units - - - - Accrued Comp. Absences Payable - - - - Other Current Liabilities - - - - Deposits in Escrow - - - - Deferred Revenues - - - - Accrued Interest Payable 434,203 - - - Total Liabilities 436,577 - - - Fund Balances: Encumbrances - - - - Land Acquisition - - - - Mortgage Loans - Debt Service 2,602,987 - - - Unreserved, Designated for Special Revenue Fund - - - - Unreserved, Undesignated - - 354,428 354,428 Total Fund Balances 2,602,987 - 354,428 354,428 Total Liabilities and Fund Balance $ 3,039,564 $ - $ 354,428 $ 354,428 H-11 Total Nonmajor Governmental Funds $ 75,392,910 397,648 208,517 2,797,113 8,740,675 (3,468,143) 177,407 $ 84,246,127 $ 2,310,929 33,628 431,528 3,201,820 431,162 79,679 587 78,935 142,391 434,203 7,144,862 242,897 2,651,655 5,272,532 2,602,987 398,074 65,933,120 77,101,265 $ 84,246,127 H-12 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2003 SPECIAL Tourist Tourist Affordable Development Development Housing Law All Districts Admin &Promo Programs Library Two Cent Two Cent Revenues: Taxes $ - $ - $ 2,689,856 $ 5,573,910 Licenses and Permits - - - - Intergovernmental - - - - Charges for Services - 43,959 40,256 83,419 Fines and Forfeitures - - - - Investment Income 3,916 423 55,918 59,054 Miscellaneous 10,800 - - 1,341 Total Revenues 14,716 44,382 2,786,030 5,717,724 Expenditures: Current: General Government - - - - Public Safety - - - - Physical Environment - - - - Transportation - - - - Economic Environment - - 3,209,765 6,255,857 Human Services - - - - Culture and Recreation - - - Court Related - 77,738 - - Debt Service - - - - Total Expenditures - 77,738 3,209,765 6,255,857 Excess/(Deficiency) of Revenues Over/(Under) Expenditures 14,716 (33,356) (423,735) (538,133) Other Financing Sources/(Uses): Transfers from Other Funds - 24,958 - - Transfers to Other Funds - - (51,041) (124,365) Debt Proceeds - - - - Payment to Refund Bond Escrow - - - Original issue Discount - - - Total Other Financing Sources/(Uses) - 24,958 (51,041) (124,365) Net Change in Fund Balances 14,716 (8,398) (474,776) (662,498) Fund Balances-October 1 256,389 36,451 3,824,635 4,326,524 Fund Balances-September 30 $ 271,105 $ 28,053 $ 3,349,859 $ 3,664,026 H-13 REVENUE FUNDS Tourist Tourist Tourist Tourist Tourist Development Development Development Development Development District#One District#Two District#Three District#Four District Wive Impact Fees, Three Cent Three Cent Three Cent Three Cent Three Cent Roadways $ 2,228,326 $ 222,006 $ 572,324 $ 531,734 $ 577,492 $ - 33,349 3,322 8,565 7,958 8,643 - 57,530 7,268 14,657 11,750 11,868 116,226 - - - - - 138,728 2,319,205 232,596 595,546 551,442 598,003 254,954 - - - - - 57,614 2,154,345 198,649 519,433 225,244 623,926 - 2,154,345 198,649 519,433 225,244 623,926 57,614 164,860 33,947 76,113 326,198 (25,923) 197,340 (44,504) (5,728) (11,976) (12,683) (11,717) (161,668) (44,504) (5,728) (11,976) (12,683) (11,717) (161,668) 120,356 28,219 64,137 313,515 (37,640) 35,672 3,532,792 436,608 874,611 587,403 685,914 6,778,664 $ 3,653,148 $ 464,827 $ 938,748 $ 900,918 $ 648,274 $ 6,814,336 (Continued) H-14 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -CONTINUED NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2003 SPECIAL Impact Fees, Impact Fees, Parks and Impact Fees, Impact Fees, Police Recreation Libraries Solid Waste Facilities Revenues: Taxes $ - $ - $ - $ - Licenses and Permits - - - - Intergovernmental - - - - Charges for Services - - - - Fines and Forfeitures - - - - Investment Income 14,692 7,124 3,385 6,853 Miscellaneous 59,398 44,222 11,185 24,345 Total Revenues 74,090 51,346 14,570 31,198 Expenditures: Current: General Government - - - - Public Safety - - - 340,913 Physical Environment - - 84,803 - Transportation - - - Economic Environment - Human Services - - - - Culture and Recreation - 78,627 - - Court Related - - - - Debt Service - - - - Total Expenditures - 78,627 84,803 340,913 Excess/(Deficiency)of Revenues Over/(Under) Expenditures 74,090 (27,281) (70,233) (309,715) Other Financing Sources/(Uses): Transfers from Other Funds - - - - Transfers to Other Funds - - - - Debt Proceeds - - - - Payment to Refund Bond Escrow - - - - Original Issue Discount - - - - Total Other Financing Sources/(Uses) - - - - Net Change in Fund Balances 74,090 (27,281) (70,233) (309,715) Fund Balances-October 1 934,287 476,888 239,580 464,874 Fund Balances-September 30 $ 1,008,377 $ 449,607 $ 169,347 $ 155,159 H-15 REVENUE FUNDS Fire &Amb Upper Keys Unincorp. Unincorp. District#1, Health Care Fire &Amb Area Service Area Service Impact Fees, Lower and Special District#6, District, Dist., Planning, Fire & EMS Middle Keys Taxing District Key Largo Parks & Rec. Bldg. &Zoning $ $ 4,729,732 $ $ 865,986 $ 1,021,267 $ 940,358 - - - 1,767,527 30,691 - 1,501 4,312,930 566,276 11,807 81,886 284,896 - - - 150,150 3,635 50,998 43,972 14,326 21,666 169,018 18,083 7,516 1,000 1,668 37,626 29,482 21,718 5,385,213 44,972 893,787 1,163,946 7,654,361 - 219,498 - 39,867 - 4,866,773 4,278,615 566,374 2,855,285 - - 433,831 200,145 - - 1,247,110 65,247 - 137,538 - - - 4,563,360 200,145 743,779 1,247,110 8,155,889 21,718 821,853 (155,173) 150,008 (83,164) (501,528) - 65,247 - 1,000,000 (757,001) (28,254) (156,042) (406,721) (1,011,589) - (691,754) (28,254) (156,042) (406,721) (11,589) 21,718 130,099 (183,427) (6,034) (489,885) (513,117) 229,637 1,491,118 2,976,547 475,394 879,514 10,655,697 251,355 $ 1,621,217 2,793,120 $ 469,360 $ 389,629 10,142,580 (Continued) H-16 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -CONTINUED NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2003 SPECIAL 911 Duck Key Local Municipal Enhancement Security Housing Policing Fees District Assistance Revenues: Taxes $ 3,163,843 $ - $ - $ - Licenses and Permits - - - - Intergovernmental - - - 720,830 Charges for Services 2,612,504 432,500 989 - Fines and Forfeitures - - - - Investment Income 30,293 7,665 2,346 26,633 Miscellaneous - - 70,906 349,092 Total Revenues 5,806,640 440,165 74,241 1,096,555 Expenditures: Current: General Government 146,460 - 2,103 - Public Safety 5,436,170 513,430 66,579 - Physical Environment - - - - Transportation - - - - Economic Environment - - - 826,670 Human Services - - - - Culture and Recreation - - - - Court Related - - - - Debt Service - - - - Total Expenditures 5,582,630 513,430 68,682 826,670 Excess/(Deficiency)of Revenues Over/(Under) Expenditures 224,010 (73,265) 5,559 269,885 Other Financing Sources/(Uses): Transfers from Other Funds - - - - Transfers to Other Funds (97,600) - - - Debt Proceeds - - - - Payment to Refund Bond Escrow - - - - Original Issue Discount - - - - Total Other Financing Sources/(Uses) (97,600) - - - Net Change in Fund Balances 126,410 (73,265) 5,559 269,885 Fund Balances-October 1 1,326,392 530,208 131,662 1,606,070 Fund Balances-September 30 $ 1,452,802 $ 456,943 $ 137,221 $ 1,875,955 H-17 REVENUE FUNDS Miscellaneous Law Court Drug Boating Special Environmental Enforcement Facility Abuse Improvement Revenue Restoration Trust Fees Trust 13,262 - - - - 415,049 9,502 - - 51,601 8,659 - 345,134 - 597,671 - - 9,352 27,223 1,038 2,515 11,493 793 - 6,028 - - - - 424,401 401,149 1,038 600,186 63,094 9,452 - 72,890 - 442,401 - - 242,642 - - - - - 696 - - - - 8,927 - - - - 19,157 - - -13,947 - - 687 - 242,642 115,617 - 442,401 687 - 181,759 285,532 1,038 157,785 62,407 9,452 181,759 285,532 1,038 157,785 62,407 9,452 583,536 1,661,146 68,244 117,710 734,243 49,400 $ 765,295 $ 1,946,678 $ 69,282 $ 275,495 $ 796,650 $ 58,852 (Continued) N-18 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -CONTINUED NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2003 SPECIAL Comprehensive Sheriff's Plan Land Inmate Impact Sheriffs Authority Commissary Support Off-Duty Revenues: Taxes $ - $ - $ - $ - Licenses and Permits - - - - Intergovernmental 2,561,059 - - - Charges for Services - - 279,222 114,801 Fines and Forfeitures - - - - Investment Income 202,861 2,880 - - Miscellaneous - 403,112 - - Total Revenues 2,763,920 405,992 279,222 114,801 Expenditures: Current: General Government 2,529,706 - - - Public Safety - 644,837 279,222 128,573 Physical Environment - - - - Transportation - - - - Economic Environment - - - - Human Services - - - - Culture and Recreation - - - Court Related - - - - Debt Service - - - Total Expenditures 2,529,706 644,837 279,222 128,573 Excess/(Deficiency) of Revenues Over/(Under) Expenditures 234,214 (238,845) - (13,772) Other Financing Sources/(Uses): Transfers from Other Funds - - - - Transfers to Other Funds - - - - Debt Proceeds - - - - Payment to Refund Bond Escrow - - - - Original Issue Discount - - - Total Other Financing Sources/(Uses) - - - - Net Change in Fund Balances 234,214 (238,845) - (13,772) Fund Balances-October 1 17,242,182 396,340 - 15,957 Fund Balances-September 30 $ 17,476,396 $ 157,495 $ - $ 2,185 H-19 REVENUE FUNDS South lorida Sheriffs Law Shared Sheriffs Sheriffs Sheriffs Sheriffs Enforcement Asset Federal HIDTA Grants Teen Court Trust Forfeiture Forfeiture Administrative 481,647 96,127 - - 64,768 - - - - - - 172,953 - 52,108 - - - - - 1,142 179,454 98,806 - 1,438 - - - - - 483,085 96,127 53,250 179,454 163,574 172,953 490,764 82,291 - 142,313 4,985,330 129,176 490,764 82,291 - 142,313 4,985,330 129,176 (7,679) 13,836 53,250 37,141 (4,821,756) 43,777 - - 916,804 - - - (916,804) - - - - 916,804 (916,804) - (7,679) 13,836 53,250 953,945 (5,738,560) 43,777 14,394 47,550 60,065 3,887,389 10,776,249 - $ 6,715 $ 61,386 $ 113,315 $ 4,841,334 $ 5,037,689 $ 43,777 (Continued) H-20 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - CONTINUED NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2003 SPECIAL Sheriffs Sheriffs Sheriffs Sheriffs Key Airport Law Enforce- Fine & West School Services ment Trust Forfeiture Crossing Guard Fund Fund Fund Fund Revenues: Taxes $ - $ - $ - $ - Licenses and Permits - - - - Intergovernmental - 485,854 - - Charges for Services 1,107,324 - - 119,622 Fines and Forfeitures - - 455,174 - Investment Income - - 1,304 - Miscellaneous - - 148,132 - Total Revenues 1,107,324 485,854 604,610 119,622 Expenditures: Current: General Government - - - - Public Safety 1,107,324 485,854 11,363 127,528 Physical Environment - - - - Transportation Economic Environment - - - Human Services Culture and Recreation Court Related - - - - Debt Service - - - - Total Expenditures 1,107,324 485,854 11,363 127,528 Excess/(Deficiency) of Revenues Over/(Under) Expenditures - - 593,247 (7,906) Other Financing Sources/(Uses): Transfers from Other Funds - - - 7,906 Transfers to Other Funds - - (593,247) - Debt Proceeds - - - Payment to Refund Bond Escrow - - - - Original Issue Discount - - _ - Total Other Financing Sources/(Uses) - - (593,247) 7,906 Net Change in Fund Balances - - - - Fund Balances-October 1 - - - - Fund Balances-September 30 $ - $ - $ - $ - H-21 REVENUE FUNDS DEBT SERVICE FUNDS Clerk's 1993 1991 Sales Tax Infrastructure Modernization Total Nonmajor Refunding Revenue & Clerk's Sales Surtax Trust Special Revenue Improvement Refunding Revenue Revenue Bonds, Fund Funds Bonds-1988 Bonds Note Series 2003 $ - $ 23,116,834 $ - $ - $ - $ - - 1,780,789 - - - - 8,755,407 516,555 - - - 385,340 6,884,402 - - - - - 1,600,237 - - - - - 1,280,077 1,737 3,754 1,188 53 - 1,364,102 - - - - 385,340 44,781,848 518,292 3,754 1,188 53 - 7,804,407 - - - - - 23,187,232 - - - - 761,276 - - - - - 57,614 - - - - 14,014,585 - - - - - 209,072 - - - - - 1,344,894 - - - - - 92,372 - - - - - 202,785 649,142 4,620,295 252,869 738,765 - 47,674,237 649,142 4,620,295 252,869 738,765 385,340 (2,892,389) (130,850) (4,616,541) (251,681) (738,712) - 2,014,915 - 5,960,953 155,000 900,000 (4,390,940) - - - - 3,495,144 - - 505,000 (3,461,644) - - - - - - (96,028) - (2,376,025) 33,500 5,960,953 155,000 1,308,972 385,340 (5,268,414) (97,350) 1,344,412 (96,681) 570,260 - 79,412,264 598,653 185,969 97,724 - $ 385,340 $ 74,143,850 $ 501,303 $ 1,530,381 $ 1,043 $ 570,260 (Continued) H-22 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - CONTINUED NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2003 CAPITAL PROJECT FUNDS Sales Tax Total Total Nonmajor Band Clerk's Capital Debt Service Capital Revenue Project Funds Improvements Note Funds Revenues: Taxes $ - $ - $ - $ Licenses and Permits - - - - Intergovernmental 516,555 - - - Charges for Services - - - - Fines and Forfeitures - - - - Investment Income 6,732 5,827 4,958 10,785 Miscellaneous - - - - Total Revenues 523,287 5,827 4,958 10,785 Expenditures: Current: General Government - - - - Public Safety - - - - Physical Environment - - - - Transportation - - - - Economic Environment - - - - Human Services - - - - Culture and Recreation - - - - Court Related - - - - Debt Service 6,261,071 - - - Total Expenditures 6,261,071 - - - Excess/(Deficiency) of Revenues Over/(Under) Expenditures (5,737,784) 5,827 4,958 10,785 Other Financing Sources/(Uses): Transfers from Other Funds 7,015,953 - - - Transfers to Other Funds - (1,460,953) - (1,460,953) Debt Proceeds 4,000,144 - - - Payment to Refund Bond Escrow (3,461,644) - - - Original Issue Discount (96,028) - - - Total Other Financing Sources/(Uses) 7,458,425 (1,460,953) - (1,460,953) Net Change in Fund Balances 1,720,641 (1,455,126) 4,958 (1,450,168) Fund Balances-October 1 882,346 1,455,126 349,470 1,804,596 Fund Balances-September 30 $ 2,602,987 $ - $ 354,428 $ 354,428 H-23 Total Nonmajor Governmental Funds $ 23,116,834 1,780,789 9,271,962 6,884,402 1,600,237 1,297,594 1,364,102 45,315,920 7,804,407 23,187,232 761,276 57,614 14,014,585 209,072 1,344,894 92,372 6,463,856 53,935,308 (8,619,388) 9,030,868 (5,851,893) 4,000,144 (3,461,644) (96,028) 3,621,447 (4,997,941) 82,099,206 $ 77,101,265 N-24 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL AFFORDABLE HOUSING PROGRAMS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 5,843 $ 5,843 $ 3,916 $ (1,927) Miscellaneous 3,294 3,294 10,800 7,506 Total Revenues 9,137 9,137 14,716 5,579 EXPENDITURES: Current: Economic Environment: Affordable Housing Initiatives 108,060 8,060 - 8,060 Elderly Homeowner Rehabilitation 6,690 6,690 - 6,690 Rental Rehabilitation 125,722 25,722 - 25,722 Total Expenditures 240,472 40.472 - 40,472 Excess/Deficiency of Revenues Over/(Under) Expenditures (231,335) (31,335) 14,716 46,051 Other Financing Sources/(Uses): Reserve for Contingencies (10,000) (10,000) - 10,000 Transfers to Other Funds (200,000) 200,000 Total Other Financing Sources/(Uses) (10,000) (210,000) - 210,000 Net Change in Fund Balances (241,335) (241,335) 14,716 256,051 Fund Balances, October 1 256,389 256,389 256,389 - Fund Balances, September 30 $ 15,054 $ 15,054 $ 271,105 $ 256,051 H-25 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES 114 FUND BALANCES - BUDGET AND ACTUAL LAW LIBRARY SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 37,000 $ 37,000 $ 43,959 $ 6,959 Investment Income 500 500 423 (77) Total Revenues 37,500 37,500 44,382 6,882 EXPENDITURES: Current: Court Related Judicial Support 81,859 81,859 77,738 4,121 Excess/Deficiency of Revenues Over/(Under) Expenditures (44,359) (44,359) 33,356) 11,003 Other Financing Sources/(Uses): Reserve for Contingencies (5,884) (5,884) - 5,884 Transfers from Other Funds 24,958 24,958 24,958 - Total Other Financing Sources/(Uses) 19,074 19,074 24,958 5,884 Net Change in Fund Balances (25,285) (25,285) (8,398) 16,887 Fund Balances, October 1 36,451 36,451 36,451 - Fund Balances, September 30 $ 11,166 $ 11,166 $ 28,053 $ 16,887 H-26 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, ALL DISTRICTS, TWO CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 2,445,605 $ 2,445,605 $ 2,689,856 $ 244,251 Charges for Services - - 40,256 40,256 Investment Income - - 55,918 55,918 Total Revenues 2,445,605 2,445,605 2,786,030 340,425 EXPENDITURES: Current: Economic Environment: Cultural Umbrella 772,314 772,314 548,918 223,396 Fishing Umbrella 676,300 676,300 556,561 119,739 Dive Umbrella 300,000 300,000 293,880 6,120 Operations - Events 1,434,284 1,429,600 1,148,509 281,091 Catastrophic Emergency 837,834 787,834 - 787,834 Special Projects 805,983 805,983 661,897 144,086 Total Expenditures 4,826,715 4,772,031 3,209,765 1,562,266 Excess/Deficiency of Revenues Over/(Under) Expenditures (2,381,110) (2,326,426) (423,735 1,902,691 Other Financing Sources/(Uses): Transfers to Other Funds - (54,684) (51,041) 3,643 Net Change in Fund Balances (2,381,110) (2,381,110) (474,776) 1,906,334 Fund Balances, October 1 3,824,635 3,824,635 3,824,635 - Fund Balances, September 30 $ 1,443,525 $ 1,443,525 $ 3,349,859 $ 1,906,334 H-27 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, ADMINISTRATION AND PROMOTIONAL, TWO CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 5,067,774 $ 5,067,774 $ 5,573,910 $ 506,136 Charges for Services - - 83,419 83,419 Investment Income - - 59,054 59,054 Miscellaneous - - 1,341 1,341 Total Revenues 5,067,774 5,067,774 5,717,724 649,950 EXPENDITURES: Current: Economic Environment: Advertising and Promotion 4,717,044 5,065,488 4,326,030 739,458 Administrative Services 700,346 688,586 600,808 87,778 Catastrophic Emergency 1,373,395 912,346 - 912,346 Special Projects 1,329,683 1,329,683 1,329,019 664 Total Expenditures 8,120,468 7,996,103 6,255,857 1,740,246 Excess/Deficiency of Revenues Over/(Under) Expenditures (3,052,694) (2,928,329) (538,133) 2,390,196 Other Financing Sources/(Uses): Transfers to Other Funds - (124,365) (124,365) - Net Change In Fund Balances (3,052,694) (3,052,694) (662,498) 2,390,196 Fund Balances, October 1 4,326,524 4,326,524 4,326,524 - Fund Balances, September 30 $ 1,273,830 $ 1,273,830 $ 3,664,026 $ 2,390,196 H-28 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT#ONE,THREE CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 2,021,244 $ 2,021,244 $ 2,228,326 $ 207,082 Charges for Services - - 33,349 33,349 Investment Income - - 57,530 57,530 Total Revenues 2,021,244 2,021,244 2,319,205 297,961 EXPENDITURES: Current: Economic Environment: Advertising and Promotion 892,230 892,230 878,117 14,113 Administrative Services 80,707 58,447 54,832 3,615 Catastrophic Emergency 424,449 402,205 - 402,205 Special Events 181,139 181,139 110,000 71,139 Bricks and Mortar 2,946,721 2,946,721 1,091,396 1,855,325 Information Services 20,000 20,000 20,000 - Beaches 392,000 392,000 - 392,000 Total Expenditures 4,937,246 4,892,742 2,154,345 2,738,397 Excess/Deficiency of Revenues Over/(Under) Expenditures (2,916,002) (2,871,498) 164,860 3,036,358 Other Financing Sources/(Uses): Transfers to Other Funds - _ (44,504) (44,504) - Net Change in Fund Balances (2,916,002) (2,916,002) 120,356 3,036,358 Fund Balances, October 1 3,532,792 3,532,792 3,532,792 - Fund Balances, September 30 $ 616,790 $ 616,790 $ 3,653,148 $ 3,036,358 H-29 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT#TWO,THREE CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 190,740 $ 190,740 $ 222,006 $ 31,266 Charges for Services - - 3,322 3,322 Investment Income - - 7,268 7,268 Total Revenues 190,740 190,740 232,596 41,856 EXPENDITURES: Current: Economic Environment: Advertising and Promotion 113,951 113,951 100,104 13,847 Administrative Services 8,897 6,797 5,700 1,097 Catastrophic Emergency 33,391 29,763 - 29,763 Special Events 16,510 16,510 5,000 11,510 Bricks and Mortar 313,108 313,108 69,644 243,464 Tourist Information Services 18,201 18,201 18,201 - Total Expenditures 504,058 498,330 198,649 299,681 Excess/Deficiency of Revenues Over/(Under) Expenditures (313,318) (307,590) 33,947 341,537 Other Financing Sources/(Uses): Transfers to Other Funds (5,728) (5,728) - Net Change in Fund Balances (313,318) (313,318) 28,219 341,537 Fund Balances, October 1 436,608 436,608 436,608 - Fund Balances, September 30 $ 123,290 $ 123,290 464,827 $ 341,537 H-30 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT#THREE, THREE CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 439,454 $ 439,454 $ 572,324 $ 132,870 Charges for Services - - 8,565 8,565 Investment Income - - 14,657 14,657 Total Revenues 439,454 439,454 595,546 156,092 EXPENDITURES: Current: Economic Environment: Advertising and Promotion 224,719 224,719 187,377 37,342 Administrative Services 23,385 17,925 14,589 3,336 Catastrophic Emergency 73,955 67,439 - 67,439 Special Events 141,634 141,634 141,536 98 Bricks and Mortar 626,864 626,864 175,931 450,933 Total Expenditures 1,090,557 1,078,581 519,433 559,148 Excess/Deficiency of Revenues Over/(Under) Expenditures (651,103) (639,127) 76,113 715,240 Other Financing Sources/(Uses): Transfers to Other Funds - (11,976) (11,976) - Net Change in Fund Balances (651,103) (651,103) 64,137 715,240 Fund Balances, October 1 874,611 874,611 874,611 - Fund Balances, September 30 $ 223,508 $ 223,508 $ 938,748 $ 715,240 H-31 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT WOUR, THREE CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 478,742 $ 478,742 $ 531,734 $ 52,992 Charges for Services - - 7,958 7,958 Investment Income - - 11,750 11,750 Total Revenues 478,742 478,742 551,442 72,700 EXPENDITURES: Current: Economic Environment: Advertising and Promotion 60,869 60,869 34,166 26,703 Administrative Services 20,218 14,853 14,808 45 Catastrophic Emergency 138,782 131,559 - 131,559 Special Events 18,585 18,585 7,408 11,177 Bricks and Mortar 748,628 748,533 168,862 579,671 Total Expenditures 987,082 974,399 225,244 749,155 Excess/Deficiency of Revenues Over/(Under) Expenditures (598,340) (495,657) 326,198 821,855 Other Financing Sources/(Uses): Transfers to Other Funds (12,683) (12,683) - Net Change in Fund Balances (508,340) (508,340) 313,515 821,855 Fund Balances, October 1 587,403 587,403 587,403 Fund Balances, September 30 $ 79,063 $ 79,063 $ 900,918 $ 821,855 H-32 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT WIVE,THREE CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 626,508 $ 626,508 $ 577,492 $ (49,016) Charges for Services - - 8,643 8,643 Investment Income - - 11,868 11,868 Total Revenues 626,508 626,508 598,003 _�28,505 EXPENDITURES: Current: Economic Environment: Advertising and Promotion 414,882 414,882 381,016 33,866 Administrative Services 29,171 22,451 18,123 4,328 Catastrophic Emergency 117,544 112,547 - 112,547 Special Events 43,353 43,353 20,000 23,353 Bricks and Mortar 718,330 718,330 204,787 513,543 Total Expenditures 1,323,280 1,311,563 623,926 687,637 Excess/Deficiency of Revenues Over/(Under) Expenditures (696,772) (685,055) (25,923) 659,132 Other Financing Sources/(Uses): Transfers to Other Funds - (11,717) (11,717) - Net Change in Fund Balances (696,772) (696,772) (37,640) 659,132 Fund Balances, October 1 685,914 685,914 685,914 - Fund Balances, September 30 $ (10,858) $ (10,858) $ 648,274 $ 659,132 H-33 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - ROADWAYS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 83,500 $ 83,500 $ 116,226 $ 32,726 Miscellaneous 92,000 92,000 138,728 46,728 Total Revenues 175,500 175,500 254,954 79,454 EXPENDITURES: Current: Transportation: Fair Share Improvement County Wide 1,310,120 - - - Fair Share Improvement Dist 1 952,103 841,360 - 841,360 Fair Share Improvement Dist 2 1,624,040 1,513,298 - 1,513,298 Fair Share Improvement Dist 3 2,539,832 2,467,465 - 2,467,465 Fair Share Improvement Key Colony Beach 136,025 136,025 - 136,025 Marathon Road Impact Fees 121,332 121,332 - 121,332 Big Pine Key Connector - 76,750 57,614 19,136 Total Expenditures 6,683,452 5,156,230 57,614 5,098,616 Excess/Deficiency of Revenues Over/(Under) Expenditures (6,507,952) (4,980,730) 197,340 5,178,070 Other Financing Sources/(Uses): Transfers to Other Funds - (1,527,222) (161,668) 1,365,554 Net Change in Fund Balances (6,507,952) (6,507,952) 35,672 6,543,624 Fund Balances, October 1 6,778,664 6,778,664 6,778,664 - Fund Balances, September 30 $ 270,712 $ 270,712 $6,814,336 $ 6,543,624 H-34 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - PARKS AND RECREATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 21,300 $ 21,300 $ 14,692 $ (6,608) Miscellaneous 31,000 31,000 59,398 28,398 Total Revenues 52,300 52,300 74,090 21,790 EXPENDITURES: Current: Culture and Recreation: District 1 Projects 255,976 195,976 - 195,976 District 2 Projects 173,405 173,405 - 173,405 District 3 Projects 356,471 356,471 - 356,471 Wilhelmina Harvey Park - 60,000 - 60,000 Total Expenditures 785,852 785,852 - 785,852 Excess/Deficiency of Revenues Over/(Under) Expenditures (733,552) (733,552) 74,090 807,642 Net Change in Fund Balances (733,552) (733,552) 74,090 807,642 Fund Balances, October 1 934,287 934,287 934,287 - Fund Balances, September 30 $ 200,735 $ 200,735 $ 1,008,377 $ 807,642 H-35 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - LIBRARIES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 5,000 $ 5,000 $ 7,124 $ 2,124 Miscellaneous 40,000 40,000 44,222 4,222 Total Revenues 45,000 45,000 51,346 6,346 EXPENDITURES: Current: Culture and Recreation: County Wide Library Projects 374,608 314,608 - 314,608 Library Materials 50,000 50,000 49,998 2 Big Pine Expansion - 35,000 28,629 6,371 Wireless Network - 25,000 - 25,000 Total Expenditures 424,608 424,608 78,627 345,981 Excess/Deficiency of Revenues Over/(Under) Expenditures (379,608) (379,608), (27,281) 352,327 Net Change in Fund Balances (379,608) (379,608) (27,281) 352,327 Fund Balances, October 1 476,888 476,888 476,888 - Fund Balances, September 30 $ 97,280 $ 97,280 $ 449,607 $ 352,327 H-36 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES -SOLID WASTE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 5,000 $ 5,000 $ 3,385 $ (1,615) Miscellaneous 12,000 12,000 11,185 (815) Total Revenues 17,000 17,000 14,570 (2,430) EXPENDITURES: Current: Physical Environment: County Wide Solid Waste Projects 212,904 212,904 84,803 128,101 Excess/Deficiency of Revenues Over/(Under) Expenditures (195,904) (195,904) (70,233) 125,671 Net Change in Fund Balances (195,904) (195,904) (70,233) 125,671 Fund Balances, October 1 239,580 239,580 239,580 - Fund Balances, September 30 $ 43,676 $ 43,676 $ 169,347 $ 125,671 H-37 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL IMPACT FEES - POLICE FACILITIES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 17,000 $ 17,000 $ 6,853 $ (10,147) Miscellaneous 28,000 28,000 24,345 (3,655) Total Revenues 45,000 45,000 31,198 (13,802) EXPENDITURES: Current: Public Safety: County Wide Police Facility 113,353 113,353 - 113,353 Mariner's Hospital 340,913 340,913 340,913 - Total Expenditures 454,266 454,266 340,913 113,353 Excess/Deficiency of Revenues Over/(Under) Expenditures (409,266) (409,266) (309,715) 99,551 Net Change in Fund Balances (409,266) (409,266) (309,715) 99,551 Fund Balances, October 1 464,874 464,874 464,874 - Fund Balances, September 30 $ 55,608 $ 55,608 $ 155,159 $ 99,551 H-38 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - FIRE AND EMS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 4,900 $ 4,900 $ 3,635 $ (1,265) Miscellaneous 18,800 18,800 18,083 (717) Total Revenues 23,700 23,700 21,718_ (1,982) EXPENDITURES: Current: Public Safety: District 1 Fire & EMS Project 59,652 District 2 Fire & EMS Project 13,709 - District 3 Fire & EMS Project 111,416 7,200 - 7,200 Key Colony Beach Fire & EMS 17,556 17,556 - 17,556 District 3 Fire Hydrants 14,400 118,616 - 118,616 District 1, Fire Hydrants - 59,652 - 59,652 District 2 Fire Hydrants - 13,709 - 13,709 Total Expenditures 216,733 216,733 - 216,733 Excess/Deficiency of Revenues Over/(Under) Expenditures (193,033) (193,033) 21,718 214,751 Net Change in Fund Balances (193,033) (193,033) 21,718 214,751 Fund Balances, October 1 229,637 229,637 229,637 - Fund Balances, September 30 $ 36,604 $ 36,604 $ 251,355 $ 214,751 H-39 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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 4,884,591 $ 4,884,591 $ 4,729,732 $ (154,859) Intergovernmental 10,000 10,000 30,691 20,691 Charges for Services 415,504 415,504 566,276 150,772 Investment Income 80,000 80,000 50,998 (29,002) Miscellaneous - - 7,516 7,516 Total Revenues 5,390,095 5,390,095 5,385,213 (4,882 EXPENDITURES: Current: General Government: Tax Collector 155,000 147,000 137,716 9,284 Property Appraiser 82,473 82,473 81,782 691 Total General Government 237,473 229,473 219,498 9,975 Public Safety: Fire Rescue - Central 1,447,023 1,452,295 1,351,930 100,365 Lower&Middle Keys Ambulance District 2,937,484 2,955,834 2,926,685 29,149 Total Public Safety 4,384,507 4,408,129 4,278,615 129,514 Debt Service: Principal - 55,699 55,699 - Interest - 9,548 9,548 - Total Debt Service - 65,247 65,247 - Total Expenditures 4,621,980 4,702,849 4,563,360 139,489 Excess/Deficiency of Revenues Over/(Under) Expenditures 768,115 687,246 821,853 134,607 Other Financing Sources/(Uses): Reserve for Contingencies (128,610) (104,988) - 104,988 Transfers from Other Funds - 65,247 65,247 - Transfers to Other Funds (750,000) 758,000) (757,001) 999 Total Other Financing Sources/(Uses) (878,610) (797,741) (691,754) 105,987 Net Change in Fund Balances (110,495) (110,495) 130,099 240,594 Fund Balances, October 1 1,491,118 1,491,118 1,491,118 - Fund Balances, September 30 $ 1,380,623 $ 1,380,623 $ 1,621,217 $ 240,594 H-40 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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 85,000 $ 85,000 $ 43,972 $ (41,028) Miscellaneous - - 1,000 1,000 Total Revenues 85,000 85,000 44,972 �40,028) EXPENDITURES: Current: General Government: Tax Collector 100 100 - 100 Human Services: Trauma District Administration 144,405 144,405 115,674 28,731 Trauma Transportation and Treatment 1,029,577 1,029,577 81,566 948,011 Trauma Pretransportation 147,879 147,879 2,905 144,974 Trauma Facility Upgrade 596,114 596,114 - 596,114 Total Human Services 1,917,975 1,917,975 200,145 1,717,830 Total Expenditures 1,918,075 1,918,075 200,145 1,717,930 Excess/Deficiency of Revenues Over/(Under) Expenditures 1,833,075) (1,833,075) (155,173) 1,677,902 Other Financing Sources/(Uses): Reserve for Contingencies (100,477) (89,477) - 89,477 Transfers to Other Funds (17,800) (28,800) (28,254) 546 Total Other Financing Sources/(Uses) (118,277) (118,277) (28,254) 90,023 Net Change in Fund Balances (1,951,352) (1,951,352) (183,427) 1,767,925 Fund Balances, October 1 2,976,547 2,976,547 2,976,547 - Fund Balances, September 30 $ 1,025,195 $ 1,025,195 $ 2,793,120 $ 1,767,925 H-41 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FIRE AND AMBULANCE DISTRICT#6 - KEY LARGO SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 890,386 $ 890,386 $ 865,986 $ (24,400) Charges for Services - - 11,807 11,807 Investment Income 21,000 21,000 14,326 (6,674) Miscellaneous - - 1,668 1,668 Total Revenues 911,386 911,386 893,787 (17,599) EXPENDITURES: Current: General Government: Tax Collector Fees 28,500 28,500 25,063 3,437 Property Appraiser Fees 16,400 16,400 14,804 1,596 Total General Government 44,900 44,900 39,867 5,033 Public Safety: Key Largo Ambulance 380,173 380,174 271,299 108,875 Key Large Fire & Rescue 487,525 349,986 295,075 54,911 Total Public Safety 867,698 730,160 566,374 163,786 Debt Service: Principal - 117,411 117,411 - Interest - 20,127 20,127 - Total Debt Service - 137,538 137,538 - Total Expenditures 912,598 912,598 743,779 168,819 Excess/Deficiency of Revenues Over/(Under) Expenditures 1,212 (1,212} 150,008 151,220 Other Financing Sources/(Uses): Reserve for Contingencies (12,219) (11,219) - 11,219 Transfers to Other Funds (156,000) (157,000) (156,042) 958 Total Other Financing Sources/(Uses) (168,219) (168,219) (156,042) 12,177 Net Change in Fund Balances (169,431) (169,431) (6,034) 163,397 Fund Balances, October 1 475,394 475,394 475,394 - Fund Balances, September 30 $ 305,963 $ 305,963 $ 469,360 $ 163,397 H-42 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL UNINCORPORATED AREA SERVICE DISTRICT - PARKS AND RECREATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 1,053,577 $ 1,062,129 $ 1,021,267 $ (40,862) Intergovernmental - 1,455 1,501 46 Charges for Services 30,000 44,175 81,886 37,711 Investment Income 40,000 40,000 21,666 (18,334) Miscellaneous 25,450 28,001 37,626 9,625 Total Revenues 1,149,027 1,175,760 1,163,946 (11,814) EXPENDITURES: Current: Culture and Recreation: Parks & Beaches Unincorporated 1,226,445 1,240,949 1,191,471 49,478 School Board Interlocal 55,639 55,639 55,639 - Islamorada Parks& Beaches 80,000 - - - Vechicle Replacement 44,492 - - - Total Expenditures 1,406,576 1,296,588 1,247,110 49,478 Excess/Deficiency of Revenues Over/(Under) Expenditures (257,549) (120,828) (83,164) 37,664 Other Financing Sources/(Uses); Reserve for Contingencies (50,000) - - - Transfers to Other Funds (220,000) (406,721) (406,721) - Total Other Financing Sources/(Uses) 270,000) (406,721) (406,721) - Net Change in Fund Balances (527,549) (527,549) (489,885) 37,664 Fund Balances, October 1 879,514 879,514 879,514 - Fund Balances, September 30 $ 351,965 $ 351,965 $ 389,629 $ 37,664 H-43 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL UNINCORPORATED AREA SERVICE DISTRICT- PLANNING, BUILDING AND ZONING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 584,426 $ 584,426 $ 940,358 $ 355,932 Licenses and Permits 1,215,000 1,215,000 1,767,527 552,527 Intergovernmental 2,504,000 2,504,000 4,312,930 1,808,930 Charges for Services 166,600 166,600 284,896 118,296 Fines and Forfeitures 88,000 88,000 150,150 62,150 Investment Income 200,000 200,000 169,018 (30,982) Miscellaneous 5,000 5,000 29,482 24,482 Total Revenues 4,763,026 4,763,026 7,654,361 2,891,335 EXPENDITURES: Current: General Government: Tax Collector Fees 100,000 78,138 35,426 42,712 Property Appraiser Fees 30,583 30,583 20,080 10,503 Growth Mgmt County Attorney 79,240 93,487 93,487 - Planning Department 1,443,305 1,407,739 1,231,652 176,087 2010 Comprehensive Plan 846,700 540,159 167,804 372,355 Fund Balance Stabilization 1,150,346 495,346 405,414 89,932 Planning Commission 43,397 43,397 40,513 2,884 Growth Management Admin. 344,420 349,420 335,480 13,940 Planning and Building Refunds 2,000 37,000 36,917 83 Settlement Agreement - 2,500,000 2,500,000 - Vehicle Replacement 213,802 34,793 - 34,793 Total General Government 4,253,793 5,610,062 4,866,773 743,289 Public Safety: Building Department 1,560,116 1,588,116 1,564,073 24,043 Code Enforcement 1,019,095 1,019,095 852,576 166,519 Fire & Rescue Coordinator 270,144 270,144 257,944 12,200 Fire Marshall 246,357 246,357 180,692 65,665 Total Public Safety 3,095,712 3,123,712 2,855,285 268,427 Physical Environment: Environmental Resources 297,781 297,781 281,569 16,212 Marine Resources 143,289 153,431 152,262 1,169 Total Physical Environment 441,070 451,212 433,831 17,381 (Continued) H-44 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED UNINCORPORATED AREA SERVICE DISTRICT - PLANNING, BUILDING AND ZONING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance.with Final Budget Original Final Positive Budget Budget Actual (Negative) Total Expenditures 7,790,575 9,184,986 8,155,889 1,029,097 Excess/Deficiency of Revenues Over/(Under) Expenditures (3,027,549) 4,421,960) (501,528) 3,920,432 Other Financing Sources/(Uses): Reserve for Contingencies (675,000) - - - Transfers from Other Funds - 1,000,000 1,000,000 - Transfers to Other Funds (706,000) (1,011,589) (1,011,589) - Total Other Financing Sources/(Uses) (1,381,000) (11,589) (11,589) - Net Change in Fund Balances (4,408,549) (4,433,549) (513,117) 3,920,432 Fund Balances, October 1 10,655,697 10,655,697 10,655,697 - Fund Balances, September 30 $ 6,247,148 $ 6,222,148 $ 10,142,580 $ 3,920,432 H-45 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL MUNICIPAL POLICING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 3,274,005 $ 3,274,005 $ 3,163,843 $ (110,162) Charges for Services 2,312,200 2,312,200 2,612,504 300,304 Investment Income - - 30,293 30,293 Total Revenues 5,586,205 5,586,205 5,806,640 220,435 EXPENDITURES: Current: General Government: Property Appraiser 65,266 65,266 53,698 11,568 Tax Collector 100,000 100,000 92,762 7,238 Total General Government 165,266 165,266 146,460 18,806 Public Safety: Insurance Unincorporated Layton 427,927 438,567 438,567 - Insurance Islamorada 162,022 177,513 177,513 - Insurance Marathon 141,207 148,736 148,736 - Sheriff Unincorporated Layton 2,627,904 2,627,904 2,627,904 - Sheriff Islamorada 1,056,707 1,121,372 1,121,372 - Sheriff Marathon 922,078 922,078 922,078 - Total Public Safety 5,337,845 5,436,170 5,436,170 - Total Expenditures 5,503,111 5,601,436 5,582,630 18,806 Excess/Deficiency of Revenues Over/(Under) Expenditures 83,094 (15,231) 224,010 239,241 Other Financing Sources/(Uses): Reserve for Contingencies (231,114) (107,859) - 107,859 Transfers to Other Funds (72,670) (97,600) (97,600) - Total Other Financing Sources/(Uses) (303,784) (205,459) (97,600) 107,859 Net Change in Fund Balances (220,690) (220,690) 126,410 347,100 Fund Balances, October 1 1,326,392 1,326,392 1,326,392 - Fund Balances, September 30 $ 1,105,702 $ 1,105,702 $ 1,452,802 $ 347,100 H-46 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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 317,365 $ 317,365 $ 432,500 $ 115,135 Investment Income 20,000 20,000 7,665 (12,335) Total Revenues 337,365 337,365 440,165 102,800 EXPENDITURES: Current: Public Safety: 911 Enhancement Fund 658,700 658,700 412,930 245,770 911 Wireless 192,904 192,904 100,500 92,404 Total Expenditures 851,604 851,604 513,430 338,174 Excess/Deficiency of Revenues Over/(Under) Expenditures (514,239) (514,239) (73,265) 440,974 Net Change in Fund Balances (514,239) (514,239) (73,265) 440,974 Fund Balances, October 1 530,208 530,208 530,208 - Fund Balances, September 30 $ 15,969 $ 15,969 $ 456,943 $ 440,974 H-47 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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ - $ - $ 989 $ 989 Investment Income 3,000 3,000 2,346 (654) Miscellaneous 65,000 65,000 70,906 5,906 Total Revenues 68,000 68,000 74,241 6,241 EXPENDITURES: Current: General Government: Tax Collector 2,200 2,200 2,103 97 Public Safety: Island Security 158,950 158,950 66,579 92,371 Total Expenditures 161,150 161,150 68,682 92,468 Excess/Deficiency of Revenues Over/(Under) Expenditures (93,150) 93,150) 5,559 98,709 Other Financing Sources/(Uses): Reserve for Contingencies (10,950) (10,950) - 10,950 Net Change in Fund Balances (104,100) (104,100) 5,559 109,659 Fund Balances, October 1 131,662 131,662 131,662 - Fund Balances, September 30 $ 27,562 $ 27,562 $ 137,221 $ 109,659 H-48 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LOCAL HOUSING ASSISTANCE SPECIAL REVENUE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 809,269 $ 809,269 $ 720,830 $ (88,439) Investment Income - - 26,633 26,633 Miscellaneous - - 349,092 349,092 Total Revenues 809,269 809,269 1,096,555 287,286 EXPENDITURES: Current: Economic Environment: Home Ownership/ Rehab Existing 1,135,000 1,067,950 319,340 748,610 Home Ownership/ Fair Housing 30,625 30,625 12,229 18,396 Administration 80,927 80,927 80,927 - Rental Rehabilitation 368,000 435,050 414,174 20,876 Total Expenditures 1,614,552 1,614,552 826,670 787,882 Excess/deficiency of Revenues Over/(Under) Expenditures (805,283) 805,283 269,885 1,075,168 Other Financing Sources/(Uses): Reserve for Contingencies (30,000) (30,000) - 30,000 Net Change in Fund Balances (835,283) (835,283) 269,885 1,105,168 Fund Balances, October 1 1,606,070 1,606,070 1,606,070 - Fund Balances, September 30 $ 770,787 $ 770,787 $ 1,875,955 $ 1,105,168 H-49 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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual REVENUES: Charges for Services $ 162,000 $ 162,000 $ 415,049 $ 253,049 Investment Income 14,000 14,000 9,352 Total Revenues 176,000 176,000 424,401 248,4011 EXPENDITURES: Current: Physical Environment: Boating Improvement 431,200 1,700 - 1,700 Marine Debris Removal - 62,500 50,013 12,4,87 Derelict Vessels - 133,,000 60,114 72,886 Channel Markers - 27,000 21,530 5,470 Regulatory Zones - 46,000 33,413 12,587 Channel Marker Repair - 32,000 27,770 4,230 Marathon Boating Imp. Fund - 7,000 5,131 1,869 Key West Boating Imp. Fund - 17,000 16,875 125 Special Marine Projects - 42,090 23,090 19,000 Mooring Field Expenses - 5,000 4,706 294 Total Expenditures 431,200 373,290 214,2,642 130,648 Excess/Deficiency of Revenues Over/(Under) Expenditures (g�5�5,200 ...........Jl 97,290) 181,759 379,049 Other Financing Sources/(Uses): Transfers to Other Funds (57,910) 27,910 Net Change in Fund Balances (255,200) (255,200) 181,759 436,959 Fund Balances, October 1 583,,536 583,536 583,536 - Fund Balances, September 30 $ 328,336 $ 328,336 765,295 436,959 H-50 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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ - $ - $ 13,262 $ 13,262 Intergovernmental - 12,622 - (12,622) Charges for Services - - 9,502 9,502 Fines and Forfeitures - 23,841 345,134 321,293 Investment Income - 2,649 27,223 24,574 Miscellaneous - 31,818 6,028 (25,790) Total Revenues - 70,930 401,149 330,219 EXPENDITURES: Current: Public Safety: Interagency Communications 780,022 780,022 54,342 725,680 Education-Building Department 8,500 8,500 8,409 91 School Crossing Guard - 11,672 10,139 1,533 Total Public Safety 788,522 800,194 72,890 727,304 Economic Environment: SFETC Travel - 9,000 696 8,304 Industrial Development Authority 4,555 4,555 - 4,555 Total Economic Environment 4,555 13,555 696 12,859 Human Services: FL Keys Council for the Handicapped 12,000 24,612 4,827 19,785 Nutrition - 478 478 - Choose Life - 3,622 3,622 - Total Human Services 12,000 28,712 8,927 19,785 Culture and Recreation: Wilhelmina Harvey Park 1,927 2,538 - 2,538 Settler's Park Landscaping - 10,315 - 10,315 Rath Foundation Donations - 9,682 7,900 1,782 Key Largo Community Park - 4,900 4,900 - Community Foundation of the FI Keys - 607 607 - Beach Advisory - 750 750 - Art in Public Places - 5,000 5,000 - Total Culture and Recreation 1,927 33,792 19,157 14,635 (Continued) H-51 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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Court Related: Alt. Dispute Resolution - Family 11,230 11,230 9,577 1,653 Alt. Dispute Resolution - Civil 11,270 11,270 2,689 8,581 Article V - 410 410 - Article V Trust - 1,271 1,271 - Total Court Related 22,500 24,181 13,947 10,234 Total Expenditures 829,504 900,434 115,617 784,817 Excess/Deficiency of Revenues Over/(Under) Expenditures (829,504) (829,504) 285,532 1,115,036 Net Change in Fund Balances (829,504) (829,504) 285,532 1,115,036 Fund Balances, October 1 1,661,146 1,661,146 1,661,146 - Fund Balances, September 30 $ 831,642 $ 831,642 $ 1,946,678 $ 1,115,036 H-52 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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 1,038 $ 1,038 EXPENDITURES: Current: Culture and Recreation: Settler's Park - 15,128 - 15,128 Total Expenditures - 15,128 - 15,128 Excess/Deficiency of Revenues Over/(Under) Expenditures - (15,128) 1,038 16,166 Net Change in Fund Balances - (15,128) 1,038 16,166 Fund Balances, October 1 68,244 68,244 68,244 - Fund Balances, September 30 $ 68,244 $ 53,116 $ 69,282 $ 16,166 H-53 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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Fines and Forfeitures $ - $ 525,105 $ 597,671 $ 72,566 Investment Income 2,000 2,000 2,515 515 Total Revenues 2,000 527,105 600,186 73,081 EXPENDITURES: Current: Public Safety: Law Enforcement 1,900 644,715 442,401 202,314 Excess/Deficiency of Revenues Over/(Under) Expenditures 100 (117,610) 157,785 275,395 Net Change in Fund Balances 100 (117,610) 157,785 275,395 Fund Balances, October 1 117,710 117,710 117,710 - Fund Balances, September 30 $ 117,810 $ 100 $ 275,495 $ 275,395 H-54 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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 38,000 $ 38,000 $ 51,601 $ 13,601 Investment Income - - 11,493 11,493 Total Revenues 38,000 38,000 63,094 25,094 EXPENDITURES: Current: Court Related: Court Facility 329,995 329,995 687 329,308 Excess/Deficiency of Revenues Over/(Under) Expenditures (291,995) (291,995) 62,407 354,402 Other Financing Sources/(Uses): Reserve for Contingencies (30,035) 30,035) - 30,035 Net Change in Fund Balances (322,030) (322,030) 62,407 384,437 Fund Balances, October 1 734,243 734,243 734,243 - Fund Balances, September 30 $ 412,213 $ 412,213 $ 796,650 $ 384,437 H-55 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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 5,000 $ 5,000 $ 8,659 $ 3,659 Investment Income - - 793 793 Total Revenues 5,000 5,000 9,452 4,452 EXPENDITURES: Current: Human Services: Drug Abuse Trust Fund 28,750 28,750 - 28,750 Excess/Deficiency of Revenues Over/(Under) Expenditures (23,750) (23,750) 9,452 33,202 Other Financing Sources/(Uses): Reserve for Contingencies (3,000) (3� - 3,000 Net Change in Fund Balances (26,750) (26,750) 9,452 36,202 Fund Balances, October 1 49,400 49,400 49,400 - Fund Balances, September 30 $ 22,650 $ 22,650 $ 58,852 $ 36,202 H-56 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL COMPREHENSIVE PLAN LAND AUTHORITY SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 2,050,000 $ 2,050,000 $ 2,561,059 $ 511,059 Investment Income 100,000 100,000 202,861 102,861 Total Revenues 2,150,000 2.150.000 2,763,920 613,920 EXPENDITURES: Current: General Government: Administrative 318,400 318,400 237,799 80,601 Grants and Aid 2,450,000 2,450,000 2,200,000 250,000 Total General Government 2,768,400 2,768,400 2,437,799 330,601 Capital Outlay: Land and Land Rights Acquisition 10,176,736 10,176,736 2..291,907 7,884,829 Total Expenditures 12,945,136 12,945,136 4,729,706 8,215,430 Excess/Deficiency of Revenues Over/(Under) Expenditures (10,795,136) (10,795,136) (1,965,786) 8,829,350 Net Change in Fund Balances (10,795,136) (10,795,136) (1,965,786) 8,829,350 Fund Balances, October 1 17,242,182 17,242,182 14,169,650 (3,072,532) Fund Balances, September 30 $ 6,447,046 $ 6,447,046 $ 12,203,864 $ 5,756,818 H-57 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES- BUDGET AND ACTUAL SHERIFF'S INMATE COMMISSARY SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment income $ 4,038 $ 4,038 $ 2,880 $ (1,158) Miscellaneous 443,204 443,204 403,112 (40,092) Total Revenues 447,242 447,242 405,992 (41,250) EXPENDITURES: Current: Public Safety 547,242 547,242 644,837 (97,595) Excess/Deficiency of Revenues Over/(tinder) Expenditures (100,000) (100,000) (238,85) (138,845) Net Change in Fund Balances (100,000) (100,000) (238,845) (138,845) Fund Balances, October 1 396,340 396,340 396,340 - Fund Balances, September 30 $ 296,340 $ 296,340 $ 157,495 $ (138,845) H-58 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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 302,966 $ 302,966 $ 279,222 $ (23,744) EXPENDITURES: Current: Public Safety 302,966 302,966 279,222 23,744 Excess/Deficiency of Revenues Over/(Under) Expenditures - - - - Net Change in Fund Balances - - - Fund Balances, October 1 - - - - Fund Balances, September 30 $ - $ - $ - $ - H-59 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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 90,296 $ 90,296 $ 114,801 $ 24,505 EXPENDITURES: Current: Public Safety 90,296 90,296 128,573 (38,277) Excess/Deficiency of Revenues Over/(Under) Expenditures - - 13,772Z 13,772) Net Change in Fund Balances - - (13,772) (13,772) Fund Balances, October 1 15,957 15,957 15,957 - Fund Balances, September 30 $ 15,957 $ 15,957 $ 2,185 $ (13,772) H-60 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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 468,000 $ 468,000 $ 481,647 $ 13,647 Miscellaneous - - 1,438 1,438 Total Revenues 468,000 468,000 483,085 15,085 EXPENDITURES: Current: Public Safety 468,000 468,000 490,764 22,764)_ Excess/Deficiency of Revenues Over/(Under) Expenditures - - (7,679) (7,679) Net Change in Fund Balances - - (7,679) (7,679) Fund Balances, October 1 14,394 14,394 14,394 - Fund Balances, September 30 $ 14,394 $ 14,394 $ 6,715 $ (7,679) H-61 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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 106,916 $ 106,916 $ 96,127 $ (10,789) EXPENDITURES: Current: Public Safety 106,916 106,916 82,291 24,625 Excess/Deficiency of Revenues Over/(Under) Expenditures - - 13,836 13,836 Net Change in Fund Balances - - 13,836 13,836 Fund Balances, October 1 47,550 47,550 47,550 - Fund Balances, September 30 $ 47,550 $ 47,550 $ 61,386 $ 13,836 H-62 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL SHERIFF'S SOUTH FLORIDA LAW ENFORCEMENT TRUST FUND SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Fines and Forfeitures $ 16,821 $ 16,821 $ 52,108 $ 35,287 Investment Income 1,132 1,132 1,142 10 Total Revenues 17,953 17,953 53,250 35,297 EXPENDITURES: Current: Public Safety 61,925 61,925 - 61,925 Excess/Deficiency of Revenues Over/(Under) Expenditures (43,972) (43,972) 53,250 97,222 Net Change in Fund Balances (43,972) (43,972) 53,250 97,222 Fund Balances, October 1 60,065 60,065 60,065 - Fund Balances, September 30 $ 16,093 $ 16,093 $ 113,315 $ 97,222 H-63 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S FEDERAL ASSET SHARING PROGRAM SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 130,450 $ 130,450 $ 179,454 $ 49,004 EXPENDITURES: Current: Public Safety 130,450 130,450 142,313 (11,863) Excess/Deficiency of Revenues Over/(Under) Expenditures - - 37,141 37,141 Other Financing Sources/(Uses): Transfers from Other Funds - - 916,804 916,804 Net Change in Fund Balances - - 953,945 953,945 Fund Balances, October 1 3,887,389 3,887,389 3,887,389 - Fund Balances, September 30 $ 3,887,389 $ 3,887,389 $ 4,841,334 $ 953,945 H-64 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, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 77,712 $ 77,712 $ 64,768 $ (12,944) Investment Income 65,436 65,436 98,806 33,370 Total Revenues 143,148 143,148 163,574 20,426 EXPENDITURES: Current: Public Safety 4,581,331 4,581,331 4,985,330 (403,999) Excess/Deficiency of Revenues Over/(Under) Expenditures (4,438,183) (4,438,183) (4,821,756) (383,573) Other Financing Sources/(Uses): Transfers to Other Funds - - (916,804) (916,804) Net Change in Fund Balances (4,438,183) (4,438,183) (5,738,560) (1,300,377) Fund Balances, October 1 10,776,249 10,776,249 10,776,249 - Fund Balances, Septernber 30 $ 6,338,066 $ 6,338,066 $ 5,037,689 $ (1,300,377) H-65 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S HIDTA ADMINISTRATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 147,408 $ 147,408 $ 172,953 $ 25,545 EXPENDITURES: Current: Public Safety 147,408 147,408 129,176 18,232 Excess/Deficiency of Revenues Over/(Under) Expenditures - - 43,777 43,777 Net Change in Fund Balances - - 43,777 43,777 Fund Balances, October 1 - - - - Fund Balances, September 30 $ - $ - $ 43,777 $ 43,777 H-66 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL SHERIFF'S AIRPORT SERVICES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 1,074,622 $ 1,074,622 $ 1,107,324 $ 32,702 EXPENDITURES: Current: Public Safety 1,074,622 1,074,622 1,107,324 (32,702) Excess/Deficiency of Revenues Over/(Under) Expenditures - - - - Net Change in Funs! Balances - - - - Fund Balances, October 1 - - - - Fund Balances, September 30 $ - $ - $ - $ - H-67 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S LAW ENFORCEMENT TRUST SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 873,575 $ 873,575 $ 485,854 $ (387,721) EXPENDITURES: Current: Public Safety 873,575 873,575 485,854 387,721 Excess/Deficiency of Revenues Over/(Under) Expenditures - - - - Net Change in Fund Balances - - - - Fund Balances, October 1 - - - - Fund Balances, September 30 $ - $ - $ - $ - H-68 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S FINE AND FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Fines and Forfeitures $ 755,000 $ 755,000 455,174 (299,826) Investment Income 2,263 2,263 1,304 (959) Miscellaneous - - 148,132 148,132 Total Revenues 757,263 757,263 604,610 (152,653) EXPENDITURES: Current: Public Safety 14,484 14,484 11,363 3,121 Excess/Deficiency of Revenues Over/(Under) Expenditures 742,779 742,779 593,247 (149,532) Other Financing Sources/(Uses): Transfers to Other Funds (742,779) (742,779) (593,247) 149,532 Net Change in Fund Balances - - - - Fund Balances, October 7 - - - - Fund Balances, September 30 $ - $ - $ - $ - H-69 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL SHERIFF'S KEY WEST SCHOOL CROSSING GUARD SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 216,205 $ 216,205 $ 119,622 $ (96,583) EXPENDITURES: Current: Public Safety 216,205 216,205 127,528 88,677 Excess/Deficiency of Revenues Over/(Under) Expenditures - - (7,906) (7,906) Other Financing Sources/(Uses): Transfers from Other Funds - - 7,906 7,906 Net Change in Fund Balances - - - - Fund Balances, October 1 - - - - Fund Balances, September 30 $ - $ - $ - $ - H-70 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL 1993 REFUNDING IMPROVEMENT BONDS 1988 DEBT SERVICE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 675,000 $ 675,000 $ 516,555 $ (158,445) Investment Income 8,000 8,000 1,737 (6,263) Total Revenues 683,000 683,000 518,292164,708) EXPENDITURES: Current: Debt Service: Principal 475,000 475,000 475,000 - Interest 193,050 193,050 143,080 49,970 Other Debt Service Costs 68,680 68,680 31,062 37,618 Total Expenditures 736,730 736,730 649,142 87,588 Excess/Deficiency of Revenues Over/(Under) Expenditures (53,730) (53,730) (130,850) (77,120) Other Financing Sourcest(Uses): Reserve for Contingencies (100,000) (100,000) - 100,000 Loan Proceeds - 3,495,144 3,495,144 - Payment to Refund Bond Escrow - (3,495,144) (3,461,644) 33,500 Total Other Financing Sources/(Uses) (100,000) (100,000) 33,500 133,500 Net Change in Fund Balances (153,730) (153,730) (97,350) 56,380 Fund Balances, October 1 598,653 598,653 598,653 - Fund Balances, September 30 444,923 $ 444,923 $ 501,303 $ 56,380 H-71 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL 1991 SALES TAX REVENUE REFUNDING BONDS DEBT SERVICE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 3,754 $ 3,754 EXPENDITURES: Current: Debt Service: Principal 4,360,000 4,360,000 4,360,000 Interest 258,184 258,184 258,184 - Other Debt Service Costs 50,000 50,000 2,111 47,889 Total Expenditures 4,668,184 4,668,184 4,620,295 47,889 Excess/Deficiency of Revenues Over/(Under) Expenditures (4,668,184) (4,668,184) (4,616,541) 51,643 Other Financing Sources/(Uses): Reserve for Contingencies (90,000) (90,000) - 90,000 Transfers from Other Funds 4,618,184 4,618,184 5,960,953 1,342,769 Total Other Financing Sources/(Uses) 4,528,184 4,528,184 5,960,953 1,432,769 Net Change in Fund Balances (140,000) (140,000) 1,344,412 1,484,412 Fund Balances, October 1 185,969 185,969 185,969 - Fund Balances, September 30 $ 45,969 $ 45,969 $ 1,530,381 $ 1,484,412 H-72 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CLERK'S REVENUE NOTE DEBT SERVICE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 60,000 $ 60,000 $ - $ (60,000) Investment Income - - 1,188 1,188 Total Revenues 60,000 60,000 1,188 (58,812) EXPENDITURES: Current: Debt Service: Principal 250,000 250,000 250,000 - Interest 10,000 10,000 1,811 8,189 Other Debt Service Costs 28,000 28,000 1,058 26,942 Total Expenditures 288,000 288,000 252,869 35,131 Excess/Deficiency of Revenues Over/(Under) Expenditures (228,000) (228,000) (251,681) (23,681 Other Financing Sources/(Uses): Transfers from Other Funds 175,000 175,000 155,000 (20,000) Net Change in Fund Balances (53,000) (53,000) (96,681) (43,681) Fund Balances, October 1 97,724 97,724 97,724 - Fund Balances, September 30 $ 44,724 $ 44,724 $ 1,043 $ (43,681) H-73 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL INFRASTRUCTURE SALES SURTAX REVENUE BONDS, SERIES 2003 DEBT SERVICE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 53 $ 53 EXPENDITURES: Current: Debt Service: Principal - 552,500 - 552,500 Interest - 309,238 346,531 (37,293) Other Debt Service Costs - 392,234 392,234 - Total Debt Service - 1,253,972 738,765 515,207 Total Expenditures - 1,253,972 738,765 515,207 Excess/Deficiency of Revenues Over/(Under) Expenditures - (1,253,972) (738,712) 515,260 Other Financing Sources/(Uses): Transfer from Other Funds - 900,000 900,000 - Loan Proceeds - 450,000 505,000 55,000 Original Issue Discount - (96,028) (96,028) - Total Other Financing Sources/(Uses) - 1,253,972 1,308,972 55,000 Net Change in Fund Balances - - 570,260 570,260 Fund Balances, October 1 - - - - Fund Balances, September 30 $ - $ - $ 570,260 $ 570,260 H-74 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL 1991 SALES TAX BOND CAPITAL IMPROVEMENTS CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ 12,000 $ 5,827 $ (6,173) EXPENDITURES: 1991 Sales Tax Revenue Bond 1,305,000 - - - Excess/Deficiency of Revenues Over/(Under) Expenditures (1,305,000) 12,000 5,827 6,173) Other Financing Sources/(Uses): Reserve for Contingencies (145,000) - - - Transfer to Other Funds - (1,462,000) (1,460,953) 1,047 Total Other Financing Sources/(Uses) (145,000) �1,462,000) (1,460,953) 1,047 Net Change in Fund Balances (1,450,000) (1,450,000) (1,455,126) (5,126) Fund Balances, October 1 1,455,126 1,455,126 1,455,126 - Fund Balances, September 30 $ 5,126 $ 5,126 $ - $ (5,126) H-75 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CLERK'S REVENUE NOTE CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTEMBER 30, 2003 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 4,958 $ 4,958 EXPENDITURES: Current: Capital Outlay: Court Services Network System - 349,470 - 349,470 Excess/Deficiency of Revenues Over/(Under) Expenditures - (349,470) 4,958 354,428 Net Change in Fund Balances - (349,470) 4,958 354,428 Fund Balances, October 1 349,470 349,470 349,470 - Fund Balances, September 30 $ 349,470 $ - $ 354,428 $ 354,428 H-76 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF NET ASSETS INTERNAL SERVICE FUNDS SEPTEMBER 30, 2003 Worker's Group Risk Compensation Insurance Management Fund Fund Fund ASSETS Current Assets: Cash and Cash Equivalents $ 5,307,737 $ 5,238,251 $ 2,755,948 Accounts Receivable, Net - 4,356 6,595 Due from Other Funds 2,480 - - Due from Other Governmental Units 26,653 43,000 - Total current assets 5,336,870 5,285,607 2,762,543 Noncurrent Assets: Land and Other Nondepreciable Assets - - - Capital Assets, Net of Accum. Depreciation 7,956 2,792 5,596 Total Noncurrent Assets 7,956 2,792 5,596 Total Assets 5,344,826 5,288,399 2,768,139 LIABILITIES Current Liabilities: Accounts Payable 6, 42 92,190 13,126 Accrued Wages and Benefits Payable 8,477 8,612 8,752 Claims and Judgements Payable 1,000,000 4,045,491 1,540,753 Due to Other Funds 9,446 8 17 Due to Other Governmental Units 48,300 - - Accrued Comp. Absences Payable 462 1,078 1,868 Other Current Liabilities - 501 - Total Current Liabilities 1,073,027 4,147,880 1,564,516 Noncurrent Liabilities: Accrued Comp. Absences Payable 20,889 13,761 15,054 Total Noncurrent Liabilities 20,889 13,761 15,054 Total Liabilities 1,093,916 4,161,641 1,579,570 NET ASSETS Invested in Capital Assets, Net of Related Debt 7,956 2,792 5,596 Unrestricted 4,242,954 1,123,966 1,182,973 Total Net Assets $ 4,250,910 $ 1,126,758 $ 1,188,569 H-77 Fleet Management Fund Total $ 1,053,733 $ 14,355,669 - 10,951 - 2,480 77,289 146,942 1,131,022 14,516,042 54,000 54,000 1,423,047 1,439,391 1,477,047 1,493,391 2,608,069 16,009,433 65,460 177,118 45,979 71,820 - 6,586,244 386,552 396,023 - 48,300 1,942 5,350 75 576 500,008 7,285,431 71,379 121,083 71,379 121,083 571,387 7,406,514 1,477,047 1,493,391 559,635 7,109,528 $ 2,036,682 $ 8,602,919 H-78 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2003 Worker's Group Risk Compensation Insurance Management Fund Fund Fund Operating Revenues: Charges for Services $ 2,553,379 $ 14,544,568 $ 1,436,530 Miscellaneous 407,953 164,148 49,839 Total operating revenues 2,961,332 14,708,716 1,486,369 Operating Expenses: Personnel Services 149,794 163,587 151,890 Operations 488,898 567,427 1,252,110 Depreciation and Amortization 4,202 698 3,003 Asserted and Paid Claims 1,198,011 13,091,270 147,617 Total operating expenses 1,840,905 13,822,982 1,554,620 Operating Income 1,120,427 885,734 (68,251) Non-Operating Revenuel(Expenses): Investment Income 60,554 64,620 45,250 Loss on Disposition of Assets - - (29) Total Non-Operating Revenue/(Expenses) 60,554 64,620 45,221 Income Before Contributions and Transfers 1,180,981 950,354 (23,030) Transfers to Other Funds - - - Capital Grants and Contributions 750 - - Change in Net Assets 1,181,731 950,354 (23,030) Total Net Assets-October 1 3,069,179 176,404 1,211,599 Change in the Application of Accounting Principles - - - Total Net Assets-October 1, Restated 3,069,179 176,404 1,211,599 Total Net Assets-September 30 $ 4,250,910 $ 1,126,758 $ 1,188,569 H-79 Fleet Management Fund Total $ 2,469,330 $ 21,003,807 20,702 642,642 2,490,032 21,646,449 880,406 1,345,677 1,218,161 3,526,596 94,440 102,343 - 14,436,898 2,193,007 19,411,514 297,025 2,234,935 18,628 189,052 (37,090). (37,119) (18,462) 151,933 278,563 2,386,868 (386,152) (386,152) 10,143 10,893 (97,446) 2,011,609 2,286,720 6,743,902 152,5_92). (152,592) 2,134,128 6,591,310 $ 2,036,682 $ 8,602,919 H-80 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2003 Worker's Group Risk Compensation Insurance Management Fund Fund Fund Operating Activities: Cash received for services $ - $ 2,191,544 $ 4,765 Cash received from funds for goods and services 2,542,290 12,333,154 1,431,765 Cash payments to suppliers for goods and svcs (1,555,774) (13,171,449) (1,509,725) Cash payments to employees for services (108,574) (114,379) (105,548) Cash payments to other funds (18,212) (32,978) (29,040) Other operating revenue 457,004 195,133 47,659 Net Cash Provided by/(Used in) Operating Activities 1,316,734 1,401,025 (160,124) Noncapital Financing Activities: Transfers to other funds - -Net Cash Provided/(Used) by Noncapital Financing Activities - - - Capital and Related Financing Activities: Acquisition of capital assets - - (1,874) Net Cash Provided/(Used) by Capital and Related Financing Activities - - (1,874) Investing Activities: Investment income 60,554 64,620 45,250 Net Cash Provided/(Used)in Investing Activities 60,554 64,620 45,250 Net Increasel(Decrease) in Cash and Cash Equivalents 1,377,288 1,465,645 (116,748) Cash and Cash Equivalents October 1 3,930,449 3,772,606 2,872,696 September 30 $ 5,307,737 $ 5,238,251 $ 2,755,948 H-81 Fleet Management Fund Total $ 209,706 $ 2,406,015 2,235,467 18,542,676 (1,280,006) (17,516,954) (609,041) (937,542) (230,190) (310,420) 20,702 720,498 346,638 2,904,273 (386,152) (386,152) (386,152) (386,152) (61,722) 63,596) (61,722) (63,596) 18,628 189,052 18,628 189,052 (82,608) 2,643,577 1,136,341 11,712,092 $ 1,053,733 $ 14,355,669 (Continued) H-82 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CASH FLOWS -CONTINUED INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2003 Worker's Group Risk Compensation Insurance Management Fund Fund Fund Reconciliation of operating income/(loss) to not cash provided by/ (used in)operating activities: Operating income/(loss) $ 1,120,427 $ 885,734 $ (68,251) Adjustments to reconcile operating income/(loss) to net cash provided by/(used in)operating activities: Depreciation and Amortization 4,202 698 3,003 Change in assets and liabilities: Inc./(dec.)in Accounts receivable 49,051 30,985 (2,180) 1 nc](dec.)in Due from other funds (2,480) - Inc./(dec.) in Due from govtl units (8,609) (19,870) - Inc./(dec.)in Accounts payable (4,105) (83,438) 106 Inc./(dec.)in Accrued wages/benefits payable 640 900 3,427 Inc./(dec.) in Claims and judgments payable 100,000 588,733 (98,097) Inc./(dec.) in Due to other funds 9,446 8 17 Inc./(dec.)in Due to other governmental units 48,288 (12) (18) Inc./(dec.)in Compensated absences payable 220 1,078 1,869 Inc./(dec.)in Other current liabiliffies (346) (3,791) - Total adjustments 196,307 515,291 (91,873) Net cash provided byi(used in)operating activities $ 1,316,734 $ 1,401,025 $ (160,124 Noncash investing,capital,and financing activities: Contribution of capital assets from government $ 750 $ - $ - Loss on disposition of assets $ - $ - $ (29) Cash Reconciliation: Unrestricted $ 5,307,737 $ 5,238,251 $ 2,755,948 H-83 Fleet Management Fund Total $ 297,025 $ 2,234,935 94,440 102,343 - 77,856 (2,480) (24,452) (52,931) (28,461) (115,898) 5,839 10,806 - 590,636 295 9,766 (12) 48,246 1,889 5,056 75 (4,062) 49,613 669,338 $ 346,638 $ 2,904,273 $ 104143 $ 10,893 $ (37,090� $ (37,119) $ 1,053,733 $ 14,355,669 H-84 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF FIDUCIARY NET ASSETS ALL AGENCY FUNDS SEPTEMBER 30, 2003 Clerk's Sheriff's Tag General General and Property Agency Agency License Tax Totals ASSETS Cash and Cash Equivalents $ 3,761,968 $ 73,894 $260,770 $ 3,035,842 $ 7,792,474 Accounts Receivable 8,331 - 3,180 681 12,192 Due from Other Governmental Units 11,828 - - - 11,828 Total assets $ 3,782,127 $ 733,894 $263,950 $ 3,036,523 $ 7,816,494 LIABILITIES Due to Others $ 2,508,935 $ 716,525 $ 2,371 $ 3,627 $ 3,231,458 Due to Other Governmental Units 1,273,192 17,369 261,579 3,032,896 4,585,036 Total liabilities $ 3,782,127 $ 73,894 $263,950 $ 3,036,523 $ 7,816,494 H-85 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF FIDUCIARY NET ASSETS ALL AGENCY FUNDS FOR YEAR ENDED SEPTEMBER 30, 2003 10/1/2002 Additions Deductions 9130/2003 Clerk's General Assets Cash and Cash Equivalents $ 4,245,292 $ 46,248,856 $ 46,732,180 $ 3,761,968 Accounts Receivable 6,092 90,390 88,151 8,331 Due from Other Governmental Units 9,057 10,818 8,047 11,828 Total assets $ 4,260,441 $ 46,350,064 $ 46,828,378 $ 3,782,127 Liabilities Due to Others $ 2,941,894 $ 6,027,863 $ 6,460,822 $ 2,508,935 Due to Other Governmental Units 1,318,547 40,322,201 40,367,556 1,273,192 Total liabilities $ 4,260,441 $ 46,350,064 $ 46,828,378 $ 3,782,127 Sheriff's General Assets Cash and Cash Equivalents $ 424,015 $ 2,415,852 $ 2,105,973 $ 733,894 Liabilities Due to Others $ 418,646 $ 2,398,483 $ 2,100,604 $ 716,525 Due to Other Governmental Units 5,369 17,369 5,369 17,369 Total liabilities $ 424,015 $ 2,415,852 $ 2,105,973 $ 733,894 Tact and License Assets Cash and Cash Equivalents $ 322,414 $ 10,707,026 $ 10,768,670 $ 260,770 Accounts Receivable 3,760 - 580 3,180 Total assets $ 326,174 $ 10,707,026 $ 10,769,250 $ 263,950 Liabilities Due to Others $ 2,341 $ 26,484 $ 26,454 $ 2,371 Due to Other Governmental Units 323,833 10,680,323 10,742,577 261,579 Total liabilities $ 326,174 $ 10,706,807 $ 10,769,031 $ 263,950 (Continued) H-86 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF FIDUCIARY NET ASSETS -CONTINUED ALL AGENCY FUNDS FOR YEAR ENDED SEPTEMBER 30, 2003 1 V/1/2VV2 Additions Deductions 9/30/2003 Property Taw Assets Cash and Cash Equivalents $ 3,247,305 $ 188,245,523 $ 188,456,986 $ 3,035,842 Accounts Receivable 424 257 - 681 Total assets $ 3,247,729 $ 188,245,780 $ 188,456,986 $ 3,036,523 Liabilities Due to Others $ 5,031 $ 5,429,399 $ 5,430,803 $ 3,627 Due to Other Governmental Units 3,242,698 188,247,185 188,456,987 3,032,896 Total liabilities $ 3,247,729 $ 193,676,584 $ 193,887,790 $ 3,036,523 Total All Agency Funds Assets Cash and Cash Equivalents $ 8,239,026 $ 247,617,257 $ 248,063,809 $ 7,792,474 Accounts Receivable 10,276 90,647 88,731 12,192 Due from Other Governmental Units 9,057 10,818 8,047 11,828 Total assets $ 8,258,359 $ 247,718,722 $ 248,160,587 $ 7,816,494 Liabilities Due to Others $ 3,367,912 $ 13,882,229 $ 14,018,683 $ 3,231,458 Due to Other Governmental Units 4,890,447 239,267,078 239,572,489 4,585,036 Total liabilities $ 8,258,359 $ 253,149,307 $ 253,591,172 $ 7,816,494 H-87 MONROE COUNTY, FLORIDA SEPTEMBER 30, 2003 GOVERNMENT-WIDE EXPENSES BY FUNCTION 2002 2003 General Government $30,780,254 $ 34,520,630 Public Safety 73,365,179 81,889,999 Physical Environment 1,575,172 2,953,838 Transportation 5,804,332 6,504,247 Economic Environment 15,426,667 14,567,326 Human Services 7,957,874 8,041,615 Culture and Recreation 5,333,122 4,271,191 Court Related 8,622,904 8,180,939 Interest on long-term debt 740,593 845,058 Solid Waste 14,754,335 13,204,903 Toll Bridge 726,011 971,275 Key West Airport 5,714,001 5,102,517 Marathon Airport 1,000,231 1,063,348 Total Government-Wide Expenses by Function $171,800,675 $182,116,886 GOVERNMENT-WIDE REVENUES Program Revenues Charges for Services $47,623,672 $ 45,122,157 Operating Grants and Contributions 12,701,238 25,373,706 Capital Grants and Contributions 15,739,793 9,137,563 General Revenues Taxes: Ad Valorem Taxes 54,584,047 58,170,115 Tourist Impact Tax 1,972,187 2,078,380 Gas Tax 5,038,354 5,087,735 1/2 Cent Sales Tax 7,424,697 7,787,670 One Cent Infrastructure Tax 12,769,884 12,884,890 Tourist Development Tax 11,799,207 12,395,648 Other Taxes 1,128,287 1,233,000 Other State Shared Revenue 3,154,471 3,152,543 Unrestricted Investment Income 3,848,672 3,341,192 Miscellaneous 3,890,714 3,082,404 Transfers 749,401 659,908 Total Government-Wide Revenues $182,424,624 $189,506,911 I-1 MONROE COUNTY, FLORIDA GENERAL GOVERNMENT EXPENDITURES BY FUNCTION FOR LAST TEN FISCAL YEARS FISCAL GENERAL PUBLIC PHYSICAL TRANS- ECONOMIC YEAR GOVERNMENT SAFETY ENVIRONMENT PORTATION ENVIRONMENT 1994 $ 23,460,049 $ 38,321,175 $ 1,305,061 $ 4,263,681 $ 7,996,073 1995 29,390,253 41,240,319 1,160,034 6,168,342 9,616,404 1996 24,652,862 45,968,956 1,334,988 4,836,343 9,408,309 1997 26,213,577 51,527,757 946,811 5,663,889 9,617,725 1998 21,004,358 56,691,835 2,299,807 4,507,675 10,747,966 1999 27,485,498 65,102,191 2,174,127 5,762,030 11,686,359 2000 21,771,656 72,758,894 3,847,743 4,694,097 11,659,885 2001 22,155,936 80,269,749 2,080,369 5,712,651 11,772,376 2002 31,214,821 82,854,954 1,561,508 5,976,504 15,393,516 2003 26,955,732 83,048,057 2,936,950 9,101,725 14,581,328 * Incudes all governmental fund types, except capital projects. 1-2 HUMAN CULTURE AND COURT DEBT SERVICES RECREATION RELATED SERVICE TOTAL* $ 9,787,823 $ 2,757,703 $ -- $ 4,627,836 $ 92,519,401 5,573,627 2,703,504 -- 6,888,070 102,740,553 5,769,102 4,332,830 -- 5,777,227 102,080,617 5,862,235 3,657,464 -- 5,971,019 109,460,477 6,237,775 3,720,300 6,615,544 5,865,981 117,691,241 6,303,742 4,725,431 6,856,998 5,618,956 135,715,332 6,873,898 3,872,241 6,959,147 5,582,234 138,019,795 7,121,592 3,458,415 7,099,591 5,661,809 145,332,488 7,488,693 3,791,980 7,766,512 6,049,706 162,098,194 8,073,738 4,137,030 7,904,583 6,769,696 163,508,839 1-3 MONROE COUNTY, FLORIDA GENERAL GOVERNMENT REVENUE BY SOURCE FOR LAST TEN FISCAL YEARS LICENSES INTER CHARGES FISCAL AND GOVERN- FOR YEAR TAXES PERMITS MENTAL SERVICES 1994 $ 54,441,515 $ 2,018,078 $ 19,514,402 $ 4,895,466 1995 58,121,769 2,124,995 20,256,479 8,086,331 1996 62,514,109 2,481,768 26,456,481 9,534,513 1997 65,383,485 2,227,459 29,245,422 8,590,395 1998 68,833,788 2,295,628 33,651,691 8,751,295 1999 67,721,136 2,125,529 43,887,413 8,504,837 2000 69,450,570 1,960,901 41,797,292 7,757,517 2001 67,550,895 1,572,473 43,260,478 15,164,412 2002 83,342,742 1,916,623 43,285,349 16,774,154 2003 87,766,227 2,148,297 47,015,974 13,138,522 *Includes all governmental fund types. 1-4 FINES AND INVESTMENT MISCEL- FORFEITURES INCOME LANEOUS TOTAL` $ 2,955,435 $ 2,558,970 $ 2,200,160 $ 88,584,026 2,486,360 4,018,259 4,245,450 99,339,643 2,807,175 5,266,515 2,603,888 111,664,449 4,420,164 5,696,786 2,388,447 117,952,158 3,094,869 6,329,767 3,471,378 126,428,416 28,631,619 5,790,945 4,843,391 161,504,870 3,234,064 8,567,628 1,773,217 134,541,189 4,728,738 7,292,607 1,988,008 141,557,611 9,369,901 3,624,547 2,099,324 160,412,640 2,921,843 2,750,580 2,271,412 158,012,855 1-5 MONROE COUNTY, FLORIDA PROPERTY TAX LEVIES AND COLLECTIONS FOR LAST TEN FISCAL YEARS FISCAL TAX TAX PERCENT OF YEAR LEVY COLLECTION LEVY COLLECTED 1994 $ 43,472,080 $ 42,014,616 96.6 1995 48,129,060 46,502,205 96.6 1996 51,350,380 49,747,700 96.9 1997 53,523,947 51,917,045 97.0 1998 56,473,845 54,723,468 97.0 1999 55,411,449 53,578,782 97.0 2000 56,096,471 54,023,766 96.0 2001 53,154,741 51,323,260 96.0 2002 56,741,898 54,763,033 97.0 2003 60,408,846 58,373,078 97.0 Property tax levies, based on assessed values as of January 1 st, 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. Accordingly, taxes collected will never be one hundred percent of the tax levy. 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 list of each year. Property taxes receivable and a corresponding reserve for uncollectible property taxes are not included in the financial statements as there are no delinquent taxes as of September 30, 2003. Source: Monroe County Tax Collector 1-6 MONROE COUNTY, FLORIDA ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY FOR LAST TEN FISCAL YEARS REAL PROPERTY PERSONAL PROPERTY TOTAL YEAR ASSESSED VALUE ASSESSED VALUE ASSESSED VALUE 1994 $ 6,140,029,454 $ 318,280,985 $ 6,458,310,439 1995 6,601,604,418 338,856,309 6,940,460,727 1996 6,856,274,547 360,857,198 7,217,131,745 1997 6,970,972,120 355,388,938 7,326,361,058 1998 7,513,987,881 341,038,010 7,855,025,891 1999 7,951,158,054 363,277,323 8,314,435,377 2000 8,682,695,235 392,464,314 9,075,159,549 2001 9,560,072,249 398,805,072 9,958,877,321 2002 10,903,750,374 419,964,709 11,323,715,083 2003 12,267,633,111 416,199,891 12,683,833,002 Assessed values used are net taxable values after deducting allowable statutory exemptions. Property is assessed as of January 1 st and taxes based on those assessments are levied and become due on the following November 1st. Therefore, assessments and levies applicable to a certain tax year are collected in the fiscal year ending during the next succeeding calendar year. Estimated actual value for each tax year is equal to the assessed value. The ratio of total assessed to the total estimated actual value is 100% for each tax year. Source: Monroe County Property Appraiser 1-7 MONROE COUNTY, FLORIDA PROPERTY VALUE, CONSTRUCTION AND BANK DEPOSITS FOR LAST TEN FISCAL YEARS FISCAL PROPERTY BANK YEAR VALUE* CONSTRUCTION DEPOSITS** 1994 $ 4,390,694,004 $ 66,414,893 $ 952,120,000 1995 4,791,995,498 88,598,075 947,751,000 1996 4,957,041,364 79,313,136 999,568,000 1997 4,978,695,909 81,984,599 1,071,370,000 1998 5,221,503,169 81,159,701 1,117,690,000 1999 4,399,264,593 66,148,495 1,255,767,000 2000 4,742,183,007 108,526,787 1,346,580,000 2001 4,330,433,917 70,942,170 1,427,373,000 2002 5,022,430,274 88,916,136 1,531,251,000 2003 5,721,862,318 90,069,871 1,656,183,000 Taxable property value and construction does not include the municipal areas of the County. In Fiscal year 1999, Islamorada incorporated. In Fiscal year 2001, Marathon Incorporated. Construction amounts include new taxable construction minus deletions from the Tax Roll. Source: * Monroe County Property Appraiser ** Florida Banker's Association 1-8 MONROE COUNTY, FLORIDA PROPERTY TAX RATES - DIRECT AND OVERLAPPING GOVERNMENTS FOR LAST TEN FISCAL YEARS TAX RATES (MILLAGE) SCHOOL BOARD COUNTY* TAX YEAR OPERATING DEBT SERVICE OPERATING DEBT SERVICE OTHER** TOTAL 1994 6.2050 -- 5.7142 -- 1.1851 13.1043 1995 6.4330 -- 6.0983 -- 1.2851 13.8164 1996 6.2530 -- 6.0857 -- 1.3840 13.7227 1997 5.9021 -- 5.8089 -- 1.5850 13.2960 1998 6.0730 -- 5.5354 -- 1.6391 13.2475 1999 5.6550 -- 5.1056 -- 1.6391 12.3997 2000 5.1840 -- 4.2181 -- 1.6391 11.0412 2001 4.9890 -- 4.4369 -- 2.2357 11.6616 2002 4.7130 -- 4.1586 -- 1.916 10.7876 2003 4.4220 -- 3.6903 -- 1.8308 9.9431 Property is assessed as of January 1 st and the taxes based on those assessments are levied according to the tax rate in effect during that tax year and become due on November 1st. Therefore, assessments and tax levies applicable to a certain tax year are collected in the fiscal year ending during the following calendar year. Monroe County does not have outstanding debt funded by ad valorem taxes. * County millage consists of the General Revenue Fund, the Fine and Forfeiture Fund, the Health Clinic and the General Purpose Fund. ** Consists of the following districts: Monroe County Mosquito Control, South Florida Water Management, Okeechobee Basin Fund, Big Cypress Fund, Everglades Construction Project and Monroe County Road Patrol Law Enforcement. Source: Monroe County Tax Collector l-9 MONROE COUNTY, FLORIDA PRINCIPAL TAXPAYERS 2003 FISCAL PERCENTAGE ASSESSED YEAR TAXES OF TOTAL TAXPAYER** VALUE* COLLECTED** COLLECTED** 1. Southern Bell $ 68,686,148 $ 827,076 0.51% 2. Casa Marina 57,302,161 725,076 0.45% 3. Hilton Resorts & Marina 38,857,543 544,054 0.33% 4. Cheeca Lodge 32,621,854 415,146 0.26% 5. Pier House 29,358,197 371,485 0.23% 6. Sheraton Suites 27,720,848 350,767 0.22% 7. Hawks Cay 27,166,654 329,051 0.20% 8. Southernmost Beach LP 25,929,378 334,020 0.2% 9. Holiday Inn Key West 22,053,094 279,050 0.17% 10. Reach 22,045,307 278„951 0.17% $ 351,741,184 $ 4,454,676 2.74% Source: * Monroe County Property Appraiser ** Monroe County Tax Collector 1-10 MONROE COUNTY, FLORIDA RATIO OF NET GENERAL BONDED DEBT TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA FOR LAST TEN FISCAL YEARS REAL PROPERTY TAXABLE GROSS DEBT ASSESSED BONDED SERVICE YEAR POPULATION VALUE*** DEBT FUNDS 1994 79,895 ** $ 6,458,310,439 $ -- 1995 79,824 ** 6,940,460,727 -- -- 1996 79,941 ** 7,217,131,745 -- -- 1997 79,941 ** 7,326,361,058 -- -- 1998 79,669 ** 7,513,987,881 -- -- 1999 79,963 ** 7,951,158,054 -- -- 2000 79,589 * 8,682,695,235 -- -- 2001 80,588 ** 9,560,072,249 -- -- 2002 81,140 ** 10,903,750,374 -- -- 2003 80,537 ** 12,267,633,111 -- -- Property Taxable Value Assessments are as of January 1 st of each year. Monroe County does not have general bonded debt. Source: * U.S. Bureau of the Census ** State of Florida Office of Economic and Demographic Research (EDR) *** Monroe County Property Appraiser I-11 MONROE COUNTY, FLORIDA COMPUTATION OF DIRECT UNDERLYING AND OVERLAPPING DEBT SEPTEMBER 30, 2003 PERCENTAGE APPLICABLE TO THIS OVERLAPPING GOVERNMENTAL UNIT GROSS DEBT GOVERNMENTAL UNIT NET DEBT Monroe County, Florida $ -- -- $ -- Monroe County does not have outstanding general obligation debt funded by ad valorem taxes. 1-12 MONROE COUNTY, FLORIDA RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL BONDED DEBT TO TOTAL GENERAL GOVERNMENT EXPENDITURES FOR LAST TEN FISCAL YEARS RATIO OF DEBT GENERAL SERVICE TO OTHER TOTAL GOVERNMENT GENERAL FISCAL DEBT DEBT EXPENDITURES GOVERNMENT YEAR PRINCIPAL INTEREST SERVICE SERVICE* *** EXPENDITURES 1994 $ 3,000,000$ 1,500,948 **$ 126,888$ 4,627,836$ 92,519,401 5.00% 1995 3,315,000 3,407,870 165,200 6,888,070 102,740,553 6.70% 1996 3,475,000 2,198,015 104,212 5,777,227 102,080,617 5.66% 1997 3,655,000 2,014,990 301,029 5,971,019 109,460,479 5.46% 1998 3,845,000 1,298,096 722,885 5,865,981 117,691,241 4.99% 1999 4,280,000 1,263,255 75,701 5,618,956 135,715,332 4.14% 2000 4,455,000 1,034,686 92,548 5,582,234 138,019,795 4.04% 2001 4,690,000 818,836 152,973 5,661,809 145,332,488 3.90% 2002 4,855,000 630,195 564,511 6,049,706 162,098,194 3.73% 2003 5,085,000 749,606 935,090 6,769,696 163,508,839 4.14% * Debt Service includes principal and interest on general obligation bonds, revenue bonds, bond anticpation notes and other loan and notes payable. ** Interest includes fiscal charges. 1-2 1-13 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUE BOND COVERAGE MUNICIPAL SERVICE DISTRICT-WASTE FOR LAST TEN FISCAL YEARS NET REVENUE DEBT SERVICE REQUIREMENTS FISCAL GROSS AVAILABLE FOR TIMES YEAR REVENUE* EXPENSES"* DEBT SERVICE PRINCIPAL INTEREST TOTAL COVERAGE 1994 $ 15,619,182$ 11,673,498$ 3,945,684 $ 300,000 $ 590,918 $ 890,918 4.43 1995 14,310,678 12,452,817 1,857,861 315,000 574,117 889,117 2.09 1996 15,183,770 13,055,040 2,128,730 335,000 556,162 891,162 2.39 1997 15,352,388 13,452,269 1,900,119 355,000 536,732 1391,732 2.13 1998 16,116,708 14,058,422 2,058,286 375,000 515,788 890,788 2.31 1999 43,130,141 42,069,856 1,060,285 405,000 493,288 898,288 1.18 2000 14,648,737 12,760,853 1,887,884 425,000 468,380 893,380 2.11 2001 14,283,981 12,046,585 2,237,396 455,000 441,605 896,605 2.50 2002 13,891,015 12,738,898 1,152,117 480,000 412,485 892,485 1.29 2003 13,459,762 12,663,904 795,858 6,140,000 *** 205,854 6,345,854 0.13 "Gross Revenue"shall mean all rates, fees, charges, assessments or other income received by the County or accrued to the County or any agency thereof in control of the management and operation of said Municipal Service District-Waste. Excluded from"Gross Revenue"is interest earned on funds held in escrow for the retirement of refunded 1980 Bonds. Fiscal year 1999 revenue includes$3,560,134 match transferred for a portion of Hurricane Georges expenditures. *' "Expenses"exclude depreciation of fixed assets and amortization of deferred charges which are reflected as expenses in the financial statements. **'The 1991 MSD Refunding Revenue Bonds were refunded in FY 03. A portion of the refunding was completed with the Solid Waste System Refunding Revenue Note, Series 2002 on 12/1912002. 1-14 MONROE COUNTY, FLORIDA SCHEDULE OF INSURANCE COMPANIES SEPTEMBER 30, 2003 INSURANCE COMPANY POLICY PERIOD Employers Reinsurance (Excess) 10/01/02 -09/30/03 Insurance Company of North America 07/01/02 -03 Preferred Governmental Claim Solutions 10/1/02-9/30/03 Bankers Insurance Company& Catawba Insurance 09/20/03 -04, 09/18/03-04, 05/18/03 -04 Company 10/11/02- 03, 04/03/03 - 04, 08/05/03-04 09/24/03- 04, 10/05/02 -03, 07/19/03-04 01/29/03-04, 06/18/03-04, 08/01/03-04 06/27/03-04, 11/19/02 - 03, 02/22/03-04 Florida Municipal Insurance Trust 10/01/02 -09/30/03 Colony Insurance Company 05/01/02-05/01/03 Worker's Compensation Volunteer Firefighters - Hartford 10/01/02-09/30/03 Old Republic Insurance Company 07/27/02 - 03 United Capitol Insurance Company 02/12/98-03 United National Insurance 12/20/01 - 02 Progressive Insurance Company 09/16/03 - 04 Florida Windstorm Underwriting Association 05/21/03 - 04 Omaha Property& Casualty 02/20/01-02, 08/24/01-02 Florida Sheriffs Self-Insurance Fund 10/01/02-04 Hartford Life Insurance 10/01/02 -09/30/03 Allianz Insurance Co. 04/01/02 -05/31/03 American Alternative Insurance 10/01/01 -09/30/02 Employers of Wausau 04/16/01 -03 1-15 MONROE COUNTY, FLORIDA SCHEDULE OF INSURANCE AGENCIES SEPTEMBER 30, 2003 EXPIRATION ANNUAL AGENCY DATE PREMIUM Arthur J. Gallagher& Co. 04/16/04 $ 12,921 12/20/04 16,969 07/21/04 53,484 Acordia National 09/30/03 254,825 Porter Allen Insurance Company 09/18/04 17,483 04/03/03 32,639 10/05/03 3,011 06/18/04 655 05/18/04 1,949 08/05/04 2,032 07/19/04 2,833 11/30/03 1,165 08/01/04 19,035 10/11/03 2,191 09/24/04 3,316 01/29/04 1,999 09/20/04 8,979 06/27/04 6,344 11/19/03 623 02/22/04 337 The Johnson's Insurance Agency 02/20/04 2,288 05/21/04 191,377 08/24/04 3,116 Florida League of Cities 10/01/03 157,001 05101/04 1,750 The CIMA Companies, Inc. 07/01/02-04 2,248 VFIS of Fla. 10/01/04 49,211 Hunt Insurance Group, Inc. 09/30/03 25,000 Marsh USA, Inc. 04/01/04 445,421 The Hartford Life Ins. 09/30/03 153,574 1-16 MONROE COUNTY, FLORIDA SALARIES AND SURETY BONDS OF PRINCIPAL OFFICIALS SEPTEMBER 30, 2003 ANNUAL AMOUNT OF NAME AND TITLE OF OFFICIAL SALARY SURETY BOND Charles "Sonny" McCoy- Mayor, Board of County Commissioners $ 39,759 $ 2,000 Dixie Spehar- Member, Board of County Commissioners 39,759 2,000 George Neugent- Member, Board of County Commissioners 39,759 2,000 Murray Nelson - Member, Board of County Commissioners 39,759 2,000 Humberto Jimenez- Member, Board of County Commissioners 39,759 2,000 Danny L. Kolhage- Clerk of Circuit Court and Chief Financial Officer 98,605 5,000 Richard D. Roth - Sheriff 104,310 15,000 Hart'L. Sawyer, Jr. - Supervisor of Elections 82,960 5,000 Ervin A. Higgs - Property Appraiser 98,605 20,000 Danise Henriquez-Tax Collector 98,605 50,000 James Roberts - County Administrator 134,937 -- 1-17 MONROE COUNTY, FLORIDA DEMOGRAPHIC STATISTICAL DATA LAST TEN YEARS SCHOOL UNEMPLOYMENT PER CAPITA ENROLLMENT RATE YEAR POPULATION (1) . INCOME (2) (3) PERCENTAGE (4) 1994 81,796 $ 24,866 9,140 3.9 1995 81,850 26,455 9,328 3.9 1996 80,730 28,236 9,,422 2.9 1997 81,919 29,657 9,529 2.5 1998 85,646 NA 9,213 2.7 1999 79,941 NA 9,194 2.3 2000 79,589 NA 8,979 2.0 2001 79,240 NA 8,847 2.4 2002 79,330 NA 8,767 2.7 2003 80,537 NA 8,633 2.2 NA® Data Not Currently Available Sources: (1) U.S. Bureau of the Census (2) U.S. Department of Commerce, Bureau of Economic Analysis (3) Monroe County School Board (4) U.S. Department of Labor, Bureau of Labor Statistics 1® MONROE COUNTY, FLORIDA MISCELLANEOUS STATISTICAL DATA SEPTEMBER 30, 2003 Government Structure Governing Body: Monroe County Board of County Commissioners Number of Seats: 5 Length of Term: 4 years Chairman: Chosen annually by fellow commissioners Chief Administrative Position: County Administrator Date originally established EDUCATION: constitutionally: July 3, 1823 Number of schools: High Schools 3 Date of present constitution Middle Schools 1 establishment: May 13, 1887 Elementary Schools 5 Middle/Elementary Schools 3 Form of government: Constitutional County Number of Administrators 30 Present area: 1,875.54 square miles Number of Teachers 593 Source: Monroe County School Board POPULATION: Date Residents Increase % EMPLOYEES: 1994** 79,895 Property Appraiser 43 1995** 79,824 -0.09% Tax Collector 55 1996** 79,941 0.15% Board of County Commissioners 565 1997** 79,941 0.00% Clerk of Circuit Court 105 1998** 79,669 -0.34% Supervisor of Elections 13 1999** 79,963 0.37% Sheriff 538 2000* 79,589 -0.47% Land Authority 2 2001** 80,588 1.26% 2002** 81,140 0.68% AMBULANCE SERVICE: 2003** 80,537 -0.74% Number of vehicles 9 Number of employees 43 Source: Number of volunteers 35 *U.S. Bureau of the Census **State of Florida Office of Economic and Demographic Research (EDR) 1-19 MONROE COUNTY, FLORIDA MISCELLANEOUS STATISTICAL DATA - CONTINUED SEPTEMBER 30, 2003 HEALTH CARE: Number POLICE PROTECTION: Medical Facilities of Beds Number of stations 4 Lower Keys Medical Center 167 Number of employees: Fisherman's Hospital 58 Certified Law Enforcement 193 Mariner's Hospital 42 Support Personnel 192 Certified Corrections 153 Source: Agency for Health Care Administration Source: Monroe County Sheriffs Office of Health Facility Regulation Department FIRE PROTECTION: PUBLIC LIBRARIES: Number of stations 9 Library Facilities 5 Number of volunteers 140 Library Holdings 191,989 1-20 1-JOW10 , CERTIFIED PUBLIC ACCOUNTANTS& CONS ULT4,NTS Independent Auditors' Report on Compliance and on Internal Control over Financial Reporting 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 basic financial statements of Monroe County, Florida (the "County") as of and for the year ended September 30, 2003, and have issued our report thereon dated March 26, 2004. We did not audit the financial statements of the Monroe County Housing Finance Authority, the County's discretely presented component unit. Those financial statements were audited by other auditors whose report thereon has been furnished to us, and our opinion, insofar as it relates to the amounts included for the Monroe County Housing Finance Authority, is based solely on the report of other auditors. 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. Compliance 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 grants, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance that are required to be reported under Government Auditing Standards. Internal Control over Financial Reporting In planning and performing our audit, we considered the County's internal control over financial reporting in order to determine our auditing procedures for the purpose of expressing our opinions on the financial statements and not to provide assurance on the internal control over financial reporting. Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the internal control over financial reporting that might be material weaknesses. A material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control over financial reporting and its operation that we consider to be material weaknesses. We noted other matters involving internal control over financial reporting that we have reported to management of the County in a separate letter dated March 26, 2004, J-1 This report is intended solely for the information and use of management, the County Mayor, and Board of County Commissioners of Monroe County, Florida, and applicable state and federal agencies, and is not intended to be and should not be used by anyone other than these specified parties. 0 West Palm Beach, Florida March 26, 2004 J-2 Is Independent Auditors' Report on Compliance and Internal Control over Compliance Applicable to each Major Federal Awards Program and State Financial Assistance Project 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") 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 Executive Office of the Governor's State Projects Compliance Supplement, that are applicable to each of its major federal awards programs and state financial assistance projects for the year ended September 30, 2003. 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 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 non-compliance 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. J-3 In our opinion, the County complied, in all material respects, with the requirements referred to above that are applicable to each of its major federal awards programs and state financial assistance projects for the year ended September 30, 2003. Internal Control over Compliance The management of the County is responsible for establishing and maintaining effective internal control over compliance with 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 requirements that could have a direct and material effect on a major federal awards program or state financial assistance project to determine our 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-1 33 and Chapter 10.550, Rules of the Auditor General. Our consideration of the internal control over compliance would not necessarily disclose all matters in the internal control that might be material weaknesses. A material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that non-compliance with applicable requirements of laws, regulations, contracts, and grants that would be material in relation to a major federal awards program or state financial assistance project being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned d functions. We noted no matters involving the internal control over compliance and its operation that we consider to be material weaknesses. 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, and applicable state and federal agencies, and is not intended to be and should not be used by anyone other than these specified parties. West Palm Beach, Florida March 26, 2004 J-4 THIS PAGE INTENTIONALLY LEFT BLANK Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance For the Year Ended September 30, 2003 Federal/State Agency, Pass-through Entity CFDA Federal Prog- ram/State Proiect Number Department of Agriculture: Passed through State Department of Elder Affairs and Alliance for Aging: USDA 2002 10.570 USDA 2003 10.570 Total Federal Agency Department of Commerce: Direct Program: Coastal Impact Asst. Program 11.419 Passed through Florida Department Of Environmental Protection: Coastal Impact Asst. Program Grant 11.419 Total Federal Agency Department of Health and Human Services: Passed through State Department of Elder Affairs and Alliance for Aging: Title 11113 Support Services -2002 93.044 Title 11113 Support Services -2003 93.044 Total Program Title IIIC-1 Congregate Meals - 2002 93.045 Title IIIC-2 Home Delivered Meals 2002 93.045 Title IIIC-1 Congregate Meals - 2003 93.045 Title IIIC-2 Home Delivered Meals 2003 93.045 Total Program Title III-E In-Home Services - 2002 93.052 Title Ill-E In-Home Services -2003 93.052 Total Program Passed through Florida Department of Revenue: Child Support Enforcement Title IV-D 93.563 Passed through State Department of Community Affairs: Low Income Home Energy Assistance Prog 2002 93.568 Low Income Home Energy Assistance Prog 2003 93.568 Total Program Total Federal Agency The accompanying notes are an integral part of this schedule. J-5 Contract Grant Number Expenditures US251 $ 8,717 US351 38,084 46,801 NA170Z2123 58,368 G0007 12,930 71,298 AA229 27,489 AA329 163,448 190,937 AA229 41,559 AA229 35,253 AA329 145,320 AA329 184,800 406,932 AA229 73,989 AA329 34,226 108,215 CC344 108,652 02EA-2J-11-54-01-018 46,302 03EA-3R-11-54-01-018 68,590 114,892 929,628 (Continued) J-6 Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance - Continued For the Year Ending September 30, 2003 Federal/State Agency, Pass-through Entity CFDA Federal Program/State Proiect Number Department of Housing and Urban Development Passed through State Department of Community Affairs: Affordable Housing Coordination 14.228 Community Development Block Grant 14.228 Total Federal Agency Department of Justice: Direct Program: Bureau of Justice Assistance: Bullet Proof Vest Program 16.607 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16,592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 The accompanying notes are an integral part of this schedule. J-7 Contract Grant Number Expenditures 03DB-88-11-54-22-007 10,000 03DB-1 A-11-54-01-H32 3,382 13, 82 -- 6,910 2001-LB-BX-0035 50,206 2001-LB-BX-1575 69,064 13PMIP586 4,352,960 13PMIP5981 22,000 13PMIP598 428,003 13PPRP578 2,614,827 19PPRP578 335,616 19PMIP598 39,336 17PMIP586 902 IOPMIP5109 33,527 IOPPRP578 83,578 IOPMIP5980 207,868 11 PMIP5108 14,399 11 PMIP5109 33,888 11 PPRP578 273,521 11 PMIP598 3,600 11 PMIP586 383,686 I1 PMIP5116 77,846 12PMIP5108 54,803 12PMIP5109 1,100,628 12PPRP578 3,301,593 12PMIP598 1,421,622 12PMIP582 629,795 (Continued) J-8 Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance - Continued For the Year Ended September 30, 2003 Federal/State Agency, Pass-through Entity CFDA Federal Program/State Project Number Department of Justice Continued: Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Local Law Enforcement Block Grant 16.592 Total Program Passed through Office of the Attorney General: Federal Asset Sharing Forfeiture Program 16.000 Victims of Crime Acts 16.575 VOCA Victim Assistance 16.575 Total Program Passed through Florida Department of Law Enforcement: Byrne Formula Grant Program- Residential Detox Program -2003 16.579 Byrne Formula Grant Program- Samuel's House Shelter-2003 16.579 Byrne Formula Grant Program- Sunrise House-2003 16.579 Byrne Formula Grant Program- Street Smart Gang Prevention-2003 16.579 Byrne Formula Grant Program- Residential Drug and Alcohol Treatment-2003 16.579 Byrne Formula Grant Program- Monroe Youth Challenge Program-2003 16.579 Byrne Formula Grant Program- Peacock-2003 16.579 Total Program Residential Substance Abuse Treatment for State Prisoners- 2002 16.593 Residential Substance Abuse Treatment for State Prisoners- 2003 16.593 Total Program Total Federal Agency Department of Labor: Passed through National Council on the Aging, Inc.: Senior Community Service Project 17.235 Senior Community Service Title V Project 17.235 Total Program Passed through South Florida Employment &Training Consortium: JTPA Liaison 2001 17.250 Total Federal Agency The accompanying notes are an integral part of this schedule. J-9 Contract Grant Number Expenditures 12PMIP585 165,166 12PMIP586 1,118,792 12PMIP590 148,480 12PMIP5116 80,065 12PMIP5117 75,265 17,121,036 -- 3,939 V2240 240,996 V2036 12,930 253,926 03-CJ-5A-11-54-01-108 27,020 03-CJ-5A-11-54-01-104 31,377 03-CJ-5A-1 1-54-01-111 10,459 03-CJ-5A-11-54-01-107 13,534 03-CJ-5A-11-54-01-105 56,617 03-CJ-5A-11-54-01-106 26,015 03-CJ-5A-11-54-01-109 16,213 181,235 02-CJ-2A-11-54-01-004 61,274 03-CJ-2J-11-54-01-006 68,497 129,771 17,696,817 AD-12521-02-55-12 112,680 XM194 38,945 151,625 W W W-PY'01-01-02 3,102 154,727 (Continued) J-10 Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance - Continued For the Year Ended September 30, 2003 Federal/State Agency, Pass-through Entity CFDA Federal Program/State Project Number Department of Transportation: Direct Program: Federal Aviation Administration: Key West AIP-3714 20.106 Key West AIP-3715 20.106 Key West AIP-3717 20.106 Key West AIP-3718 20.106 Key West AIP-3720 20.106 Key West AIP-3721 20.106 Key West AIP-3722 20.106 Marathon AIP-4416 20.106 Marathon AIP-4417 20.106 Total Program Transportation Planning Assistance 20.205 Aerolite Bus 20.513 Total Federal Agency Office of Library Services: Passed through Florida Department of State: Library Services &Technology Act Grant 45.310 Library Services &Technology Act Grant 45.310 Total Federal Agency Federal Emergency Management Agency: Passed through State Department of Community Affairs: Hurricane Georges - FEMA-DR-1249-FL 83.548 Tropical Storm Mitch- FEMA-DR-1259-FL 83.548 Total Program Terrorism Preparedness 83.552 EMA State and Local Assistance FY 03 83.552 Total Program EMA Response Team FY 03 83.564 Total Federal Agency The accompanying notes are an integral part of this schedule. J-1 1 Contract Grant Number Expenditures 3-12-0037-1400 45,000 3-12-0037-1501 523,060 3-12-0037-1702 290,582 3-12-0037-1802 490,879 3-12-0037-020-2003 1,878,840 3-12-0037-021-2003 23,359 3-12-0037-022-2003 13,928 3-12-0044-1601 383,823 3-12-0044-17-2002 20,891 3,670,362 FAP#888-488/A1893 106,802 FL-5310-0026 44,000 3,821,164 02-LSTA-F-10 53,992 02-LSTA-E-12 70,000 123,992 01 UN-6P-11-54-15-007 72,087 01 UN-6Q-11-54-15-011 24,401 96,488 02-PR-70-07-38-01-005 44,700 03-BG-04-11-54-01-044 20,671 65,371 03-CT-95-11-54-01-372 1,729 163,588 (Continued) J-12 Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance - Continued For the Year Ended September 30, 2003 Federal/State Agency, Pass-through Entity CFDA Federal Program/State Proiect Number National Archives and Records Administration: Passed through Florida Department of State: Historical Court Records 89.003 United States Treasury Department: Passed through Office of the Attorney General: Federal Asset Sharing Forfeiture Program 21.000 Total Expenditures of Federal Awards The accompanying notes are an integral part of this schedule. J-13 Contract Grant Number Expenditures 11-10 2,000 -- 5,898,195 $ 28,921,592 (Continued) J-14 Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance - Continued For the Year Ended September 30, 2003 CSFA State Agency Name Number Florida Department of Community Affairs: Hurricane Georges-Mobile Generators Tropical Storm Mitch-Marathon Community Marina On-site Sewage Replacement- Canal Study/Post Disaster/Little Venice 52.003 Sanitary Wastewater Master Plan 52.003 Total Program Emergency Management Base Grant- 2003 52.008 Total Program Emergency Management Preparedness Grant-2003 52.009 Hazardous Material Emergency Plan-2002 52.023 Total Department Florida Department of Children and Families: Community Care for Disabled Adults 2002 60.008 Community Care for Disabled Adults 2003 60.008 Community Care for Disabled Adults 2003 60.008 Total Department Florida Department of Elder Affairs: Passed through The Alliance for Aging: Home Care for the Elderly- 2002 65.001 Home Care for the Elderly- 2003 65.001 Total Program Alzheimer's Disease Initiative -2002 65.004 Alzheimer's Disease Initiative - 2003 65.004 Total Program Community Care for Elderly 2002 65.010 Community Care for Elderly 2003 65.010 Total Program Total Department information provided for state financial assistance but not required for federal awards. The accompanying notes are an integral part of this schedule. J-15 Transfer To Contract Grant Number Expenditures Subrecipients* 01 UN-6P-1 1-54-15-007 $ 12,015 $ -- 01 UN-6Q-11-54-15-011 4,067 -- 01-DR-16-11-54-01-001 978,512 -- 99-DR-1 P-1 1-54-01-001 21,761 -- 1,000,273 -- 03-BG-04-11-54-01-044 103,196 -- 103,196 -- 03-CG-10-11-54-01-083 20,415 -- 02-CP-11-11-54-22-031 2,505 -- 1,142,471 -- KG-036 36,961 -- KG-042 30,491 -- KG-047 21,121 -- 88,573 -- KH-272 33,205 -- KH-372 10,285 -- 43,490 -- KZ297 52,959 -- KZ397 3,972 -- 56,931 -- KC271 352,037 -- KC371 130,023 -- 482,060 -- 582,481 -- (Continued) J-16 Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance - Continued For the Year Ended September 30, 2003 CSFA State Agency Name Number Florida Department of Environmental Protection: Keys Wastewater Mgmt Plan 37.002 Litter& Marine Debris Grant-2003 37.009 Total Program Solid Waste Recycling & Education 2003 37.011 Total Program Small Counties Solid Waste -2003 37.012 Total Program Waste Tire Solid Waste-2003 37.015 Total Program Upper Keys Community Pool-2002 37,017 Upper Keys Community Pool-2003 37.017 Total Program North Key Largo Wastewater 37.039 Total Department Florida Department of Health and Rehabilitative Services: EMS Matching Grant-Hazardous Materials Response 64.003 Total Program EMS County Award 2001 64.005 EMS County Award 2002 64.005 Total Program Total Department Florida Department of Justice Administration: Child Dependency Counsel 21.001 Information provided for state financial assistance but not required for federal awards. The accompanying notes are an integral part of this schedule. J-17 Transfer To Contract Grant Number Expenditures Subrecioients* SP527 150,000 150,000 LC322 11,789 11,789 11,789 11,789 RE=322 127,034 -- 127,034 -- SC324 50,000 -- 50,000 -- WT344 89,586 -- 89,586 -- F0208 20,000 20,000 F03666 200,000 200,000 220,000 220,000 LP0337 1,016,445 -- 1,664,854 381,789 EM276 45,771 -- 45,771 -- CG1044 52,010 -- C2044 38,014 -- 90,024 -- 135,795 -- -- 27,131 -- (Continued) J-18 Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance - Continued For the Year Ended September 30, 2003 CSFA State Agency Name Number Florida Department of Juvenile Justice: Intensive Delinquency Diversion Service 80.022 Civil Citation Program -- Total Department Florida Department of Law Enforcement: Live Scans for the Monroe County Jail -- Florida Department of Legal Affairs/Attorney General: Crime Stoppers Program 41.002 Florida Department of State: Voting Systems Assistance 45.029 State Aid to Libraries 45.030 Total Department Florida Department of Transportation: Aerolite Bus -- Bicycle & Pedestrian Plan 2003 52.004 Total Program Florida Keys Scenic Highway Planning 55.003 Overseas Heritage Trail Design & Construction 55.008 Overseas Heritage Trail Safety Project 55.008 Total Program Key West Airport -- Key West Airport Key West Airport -- Key West Airport 55.004 Key West Airport 55.004 Key West Airport 55.004 Information provided for state financial assistance but not required for federal awards. The accompanying notes are an integral part of this schedule. J-19 Transfer To Contract Grant Number Expenditures Subrecipients* P1001 152,766 -- CC006 18,652 -- 171,418 -- -- 27,242 -- -- 1,438 -- -- 61,875 61,875 03-ST-31 159,894 -- 221,769 61,875 FM#25391619401/AK594 5,500 -- FM#252077 1 1 401/AM102 47,079 -- 47,079 -- FM#25207711401/AL652 29,383 -- AL005/FM#410504-1-54-01 119,175 -- AL146/FM#410504-1-54-02 42,494 -- 161,669 -- W PI#6826784/AF374 12,595 -- 25436918401/AF776 261,949 -- 25437518401/AG 177 105,782 -- 41265919401/AL021 7,559 -- 41265819401/AL023 9,609 -- 41286519401/AL288 129,353 -- (Continued) J-20 Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance - Continued For the Year Ended September 30, 2003 CSFA State Agency Name Number Florida Department of Transportation continued: Key West Airport Key West& Marathon Airport Marathon Airport Marathon Airport Marathon Airport Marathon Airport Total Program Total Department Florida Fish & Wildlife Conservation Commission: BIF Derelict Vessel Removal 77,005 BIF Derelict Vessel Removal 77.005 Total Program BIF Public Launch Facilities 77.006 Boating Improvement Fund 77.006 Total Program Total Department Florida Housing Finance Corp.: State Housing Initiative Program 52.901 State Housing Initiative Program 52.901 State Housing Initiative Program 52.901 Total Department Office of the State Courts Administration: Civil Traffic Hearing Officer 22.001 South Florida Water Management District: Stormwater Improvement Projects 37.039 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. J-21 Transfer To Contract Grant Number Expenditures Subrecipients* 4145418401/AN 103 588,563 -- 25426919402/AK043 153,368 -- 2547718401/AF765 349,202 -- 410780194011AJ816 792,365 -- 41077919401/AJ815 188,649 -- 41280719401/AL024 34,858 -- 2,633,852 -- 2,877,483 -- FWCC 01010 31,878 FWCC 021391DV 0203 42,600 -- 74,478 -- FWCC 01244 20,000 -- 242,642 -- 262,642 337,120 -- SHIP 99-02 PLAN 3 YR 3 22,006 -- SHIP 01-02 PLAN 4 YR 1 346,251 -- SHIP 02-03 PLAN 4 YR 2 458,413 -- 826,670 -- -- 13,151 -- C-12176 375,120 -- $ 8,492,716 $ 443,664 J-22 Monroe County, Florida Notes to Schedule of Expenditures of Federal Awards and State Financial Assistance For The Year Ended September 30, 2003 Note I — Reporting Entity For reporting entity purposes, the Schedule of Federal Awards and State Financial Assistance include the activities of the Monroe County primary government and its blended component units. Note 2 —Summary of Significant Accounting Policies The accounting policies and presentation of the Schedule of Expenditures of Federal Awards and State Financial Assistance are in accordance with accounting principles generally accepted in the United States of America as applicable to governmental organizations. J-23 MONROE COUNTY, FLORIDA Schedule of Findings and Questioned Costs— Federal Awards Programs and State Financial Assistance Projects For the year ended September 30, 2003 (Continued) PART I - SUMMARY OF AUDITORS' RESULTS 1 The Independent Auditors' Report on the financial statements expresses unqualified opinions. 2. No reportable conditions relating to the audit of the financial statements are reported in the Independent Auditors' Report on Compliance and on Internal Control over Financial Reporting in Accordance with Government Auditing Standards. 3. No instances of noncompliance material to the financial statements of Monroe County, Florida were disclosed during the audit. 4. No reportable conditions relating to the audit of major state financial assistance projects are reported in the Independent Auditors' Report on Compliance and Internal Control over Compliance Applicable to Each Major Federal Awards Program and State Financial Assistance Projects. 5. The Independent Auditors' Report on Compliance for Each Major Federal Awards Program and State Financial Assistance Projects expresses an unqualified opinion. 6. No audit findings relative to major federal awards programs for Monroe County, Florida are reported in this Schedule. 7. No audit findings relative to major state financial assistance projects for Monroe County, Florida are reported in this Schedule. 8. The threshold for distinguishing Type A and Type 8 programs/projects was $867,648 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. 10. The programs/projects tested as major programs/projects included the following: Federal Programs Federal CFDA No. Local Law Enforcement Block Grants 16.592 Federal Asset Sharing Forfeiture Program 21.000 J-24 MONROE COUNTY, FLORIDA Schedule of Findings and Questioned Costs— Federal Awards Programs and State Financial Assistance Projects For the year ended September 30, 2003 (Continued) PART I - SUMMARY OF AUDITORS' RESULTS (CONTINUED) State Projects State CSFA No. On-Site Sewage Replacement— Canal Study/Post Disaster/Little Venice Sanitary Wastewater Master Plan 52.003 Community Care for the Elderly 200312002 65.010 Upper Keys Community Pool 200312002 37.017 North Key Largo Wastewater 37.039 BIF Derelict Vessel Removal 77.005 BIF Public Launch Facilities/Boating Improvement Fund 77.006 State Housing Initiative Program 52.901 Stormwater Improvement Projects 37.039 PART 11 - FINDINGS— FINANCIAL STATEMENTS This section identifies the reportable conditions, material weaknesses, and instances of noncompliance related to the financial statements that are required to be reported in accordance with Government Auditing Standards. None reported. PART III - FINDINGS AND QUESTIONED COSTS— MAJOR FEDERAL AWARDS PROGRAMS There are no findings or questioned costs reported. PART IV- FINDINGS AND QUESTIONED COSTS— MAJOR STATE FINANCIAL ASSISTANCE PROJECTS There are no findings or questioned costs reported. J-25 Monroe County, Florida Summary Schedule of Prior Audit Findings and Corrective Action Plan Federal Awards Programs and State Projects For the Year Ended September 30, 2003 Prior Year Audit Findings: There were no audit findings in the prior year independent auditors' reports that required corrective action. Corrective Action Plan: There were no audit findings in the current year independent auditors' reports that required corrective action, J-26 THIS PAGE INTENTIONALLY LEFT BLANK