Fiscal Year 2021
MONROECOUNTY,FLORIDA
PROPERTYAPPRAISER
FINANCIALSTATEMENTS,
REQUIREDSUPPLEMENTARYINFORMATION,
ANDSUPPLEMENTARYREPORTS
As of and for the Year Ended September 30, 2021
And Reports of Independent Auditor
MONROECOUNTY,FLORIDA
PROPERTYAPPRAISER
TABLEOFCONTENTS
REPORTOFINDEPENDENTAUDITOR ................................................................................................ 1-2
FINANCIALSTATEMENTS
Balance Sheet Î General Fund ............................................................................................................................ 3
Statement of Revenues, Expenditures, and Changes in Fund Balances Î General Fund .................................. 4
Notes to the Financial Statements ................................................................................................................. 5-10
REQUIREDSUPPLEMENTARYINFORMATION
Schedule of Revenues and Expenditures - Budget and Actual Î General Fund ............................................... 11
SUPPLEMENTARYREPORTS
Report of Independent Auditor on Internal Control over Financial Reporting and on
Compliance and Other Matters Based on an Audit of Financial Statements Performed
in Accordance with Government Auditing Standards ............................................................................... 12-13
Independent AuditorÓs Management Letter .................................................................................................. 14-15
Report of Independent Accountant on Compliance with Local Government Investment Policies ..................... 16
ReportofIndependentAuditor
To the Honorable Scott Russell
Property Appraiser of Monroe County, Florida
ReportonFinancialStatements
We have audited the accompanying financial statements of the major fund of the Monroe County, Florida Property
Appraiser (the ÐProperty AppraiserÑ), as of and for the year ended September 30, 2021, and the related notes to
the financial statements as listed in the table of contents.
Management is responsible for the preparation and fair presentation of these financial statements in accordance
with accounting principles generally accepted in the United States of America; this includes the design,
implementation, and maintenance of internal control relevant to the preparation and fair presentation of the
financial statements that are free from material misstatement, whether due to fraud or error.
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our
audit in accordance with auditing standards generally accepted in the United States of America and the standards
applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of
the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
statements. The procedures selected depend on the auditorÓs judgment, including the assessment of the risks of
material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments,
the auditor considers internal control relevant to the entityÓs preparation and fair presentation of the financial
statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the entityÓs internal control. Accordingly, we express no such opinion.
An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of
significant accounting estimates made by management, as well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective
financial position of the major fund of the Property Appraiser as of September 30, 2021, and the respective
changes in financial position thereof for the year then ended, in accordance with accounting principles generally
accepted in the United States of America.
ĭĬŷ͵ĭƚƒ
As discussed in Note 1 to the financial statements, the financial statements referred to above were prepared solely
for the purpose of complying with the Rules of the Auditor General of the state of Florida. In conformity with the Rules,
the accompanying financial statements are intended to present the financial position and changes in financial position
of the general fund of Monroe County, Florida that is attributable to the Property Appraiser. They do not purport to,
and do not, present fairly the financial position of Monroe County, Florida as of September 30, 2021, and the changes
in its financial position for the fiscal year then ended in accordance with accounting principles generally accepted in
the United States of America. Our opinion is not modified with respect to this matter.
RequiredSupplementaryInformation
Accounting principles generally accepted in the United States of America require that required supplementary
information as listed in the table of contents be presented to supplement the financial statements. Such
information, although not a part of the financial statements, is required by the Governmental Accounting Standards
Board, who considers it to be an essential part of financial reporting for placing the financial statements in an
appropriate operational, economic, or historical context. We have applied certain limited procedures to the
required supplementary information in accordance with auditing standards generally accepted in the United States
of America, which consisted of inquiries of management about the methods of preparing the information and
comparing the information for consistency with managementÓs responses to our inquiries, the financial statements,
and other knowledge we obtained during our audit of the financial statements. We do not express an opinion or
provide any assurance on the information because the limited procedures do not provide us with sufficient
evidence to express an opinion or provide any assurance.
OtherReportingRequiredby GovernmentAuditingStandards
In accordance with Government Auditing Standards, we have also issued our report dated March 15, 2022, on
our consideration of the Property Appraiser's internal control over financial reporting and our tests of its compliance
with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of
that report is solely to describe the scope of our testing of internal control over financial reporting and compliance
and the results of that testing, and not to provide an opinion on the effectiveness of the Property AppraiserÓs
internal control over financial reporting or on compliance. That report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the Property AppraiserÓs internal control over
financial reporting and compliance.
Tampa, Florida
March 15, 2022
2
FINANCIALSTATEMENTS
MONROECOUNTY,FLORIDA
PROPERTYAPPRAISER
BALANCESHEETΑGENERALFUND
SEPTEMBER30,2021
ASSETS
Cash $ 1,072,168
Total Assets$ 1,072,168
LIABILITIESANDFUNDBALANCE
Liabilities:
Accounts payable$ 55,739
Accrued wages and benefits payable 86,989
Due to Board of County Commissioners 843,062
Due to other governmental units 86,378
Total Liabilities 1,072,168
Fund Balance -
Total Liabilities and Fund Balance$ 1,072,168
The accompanying notes to the financial statements are an integral part of this statement. 3
MONROECOUNTY,FLORIDA
PROPERTYAPPRAISER
STATEMENTOFREVENUES,EXPENDITURESANDCHANGESINFUNDBALANCESΑ
GENERALFUND
YEARENDEDSEPTEMBER30,2021
Revenues:
Intergovernmental:
Board of County Commissioners4,215,741$
Charges for Services:
Other taxing districts 431,934
Investment income 1,468
Miscellaneous 2,950
Total Revenues4,652,093
Expenditures:
Current:
Personnel services 2,593,591
Operating expenditures 1,125,915
Capital outlay 3,147
Total Expenditures 3,722,653
Excess of Revenues over Expenditures929,440
Other Financing Uses:
Transfers to Board of County Commissioners(843,062)
Transfers to other governmental units(86,378)
Total Other Financing Uses(929,440)
Net change in fund balance -
Fund balance, beginning of year -
Fund balance, end of year$ -
The accompanying notes to the financial statements are an integral part of this statement. 4
MONROECOUNTY,FLORIDA
PROPERTYAPPRAISER
NOTESTOTHEFINANCIALSTATEMENTS
SEPTEMBER30,2021
NoteЊΓbğƷǒƩĻofentityandsummaryofsignificantaccountingpolicies
Reporting Entity Î The Monroe County, Florida Property Appraiser (the ÐProperty AppraiserÑ) is a separately
elected county official established pursuant to the Constitution of the state of Florida. These financial statements
present only the Property AppraiserÓs Office and do not purport to reflect the financial position or the results of
operations of Monroe County, Florida (the ÐCountyÑ) taken as a whole. The financial statements of the Property
Appraiser have been prepared in accordance with the accounting principles and reporting guidelines established
by the Governmental Accounting Standards Board (ÐGASBÑ).
Entity status for financial reporting purposes is governed by GASB Statement 14, as amended. Although the
Property AppraiserÓs office is operationally autonomous, it does not hold sufficient corporate powers of its own to
be considered a legally separate entity for financial reporting purposes. Therefore, under GASB guidelines, the
Property Appraiser is reported as a part of the primary government of Monroe County, Florida.
Measurement Focus, Basis of Accounting, and Financial Statement Presentation Î The Property Appraiser's
financial statements are prepared for the purpose of complying with Florida Statute 218.39(2), and
Chapter 10.550, Rules of the Auditor General (the ÐRulesÑ), which require the Property Appraiser to only present
fund financial statements.
The General Fund is used to account for all revenues and expenditures applicable to the general operations of
the Property Appraiser that are not legally required or by accounting principles generally accepted in the United
States of America (ÐU.S. GAAPÑ) to be accounted for in another fund. The General Fund is presented as a major
governmental fund and uses the current financial resources, measurement focus, and the modified accrual basis
of accounting. Revenues are recognized when measurable and available. Revenues are considered to be
available when they are collectible within the current period or soon enough thereafter to pay liabilities of the
current period. For this purpose, the Property Appraiser considers revenues to be available if they are collected
within 60 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is
incurred, as under accrual accounting. However, expenditures related to compensated absences and claims and
judgments are recorded only when payment is due.
The extent to which General Fund revenues exceed expenditures is reflected as transfers out and as liabilities to
the County Board of County Commissioners (the ÐBoardÑ) and other governmental agencies in the same
proportion as fees paid by each governmental unit to total fees earned by the Property Appraiser.
Budgetary Requirements Î General Fund expenditures are controlled by budget appropriations in accordance
with the requirements set forth in the Florida Statutes. The budget is prepared on a basis consistent with
U.S. GAAP.
Cash Î The Property AppraiserÓs cash consists of demand deposits. All cash is insured by the Federal Deposit
Insurance Corporation or covered by the state of Florida collateral pool, a multiple financial institution pool with
the ability to assess its members for collateral shortfalls if a member institution fails.
5
MONROECOUNTY,FLORIDA
PROPERTYAPPRAISER
NOTESTOTHEFINANCIALSTATEMENTS
SEPTEMBER30,2021
NoteЊΓbğƷǒƩĻofentityandsummaryofsignificantaccountingpolicies(continued)
Capital Assets Î Tangible personal property used in the Property Appraiser's operations is recorded as
expenditures in the General Fund at the time assets are received and a liability is incurred. Purchased assets are
capitalized at historical cost in the government-wide financial statements of the County. In addition, the Board
provides office space used by the Property Appraiser at no charge.
Compensated Absences Î The Property Appraiser permits employees to accumulate earned but unused vacation
and sick pay benefits. The Property Appraiser is not legally required to and does not accumulate expendable
available financial resources to liquidate this obligation. The obligation for compensated absences is accrued in
the government-wide financial statements of the County. A summary of activity for the Property AppraiserÓs
compensated absences obligation is as follows:
Balance, October 1, 2020$ 214,045
Additions 215,308
Deletions (237,857)
Balance, September 30, 2021191,496$
Use of Estimates Î The preparation of financial statements requires management to make use of estimates that
affect reported amounts. Actual results could differ from estimates.
NoteЋΓ5ĻƦƚƭźƷƭandinvestments
The Property Appraiser follows Florida Statutes for its investment policy, which authorizes investments in
certificates of deposit, savings accounts, repurchase agreements, the Local Government Surplus Funds Trust
Fund administered by the Florida State Board of Administration, and obligations of the U.S. government and
governmental agencies unconditionally guaranteed by the U.S. government.
At September 30, 2021, cash included demand deposits with a carrying amount of $1,072,168 and a bank balance
of $1,304,411.
NoteЌΓwĻƷźƩĻƒĻƓƷsystem
Plan Description Î The Property AppraiserÓs employees participate in the Florida Retirement System (ÐFRSÑ). As
provided by Chapters 121 and 112, Florida Statutes, the FRS provides two cost sharing, multiple employer defined
benefit plans administered by the Florida Department of Management Services, Division of Retirement, including
the FRS Pension Plan (ÐPension PlanÑ) and the Retiree Health Insurance Subsidy (ÐHIS PlanÑ). Under
Section 121.4501, Florida Statutes, the FRS also provides a defined contribution plan (ÐInvestment PlanÑ)
alternative to the FRS Pension Plan, which is administered by the State Board 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 a
participating city or special district within the state of Florida. The FRS provides retirement and disability benefits,
annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. Benefits are established
by Chapter 121, Florida Statutes, and Chapter 60S, Florida Administrative Code. Amendments to the law can be
made only by an act of the Florida Legislature.
6
MONROECOUNTY,FLORIDA
PROPERTYAPPRAISER
NOTESTOTHEFINANCIALSTATEMENTS
SEPTEMBER30,2021
NoteЌΓwĻƷźƩĻƒĻƓƷsystem(continued)
Benefits under the Pension Plan are computed on the basis of age, average final compensation, and service
credit. For Pension Plan members enrolled before July 1, 2011, Regular class members who retire at or after
age 62 with at least six years of credited service, or 30 years of service regardless of age are entitled to a
retirement benefit payable monthly for life, equal to 1.60% of their final average compensation based on the five
highest years of salary, for each year of credited service. Vested members with less than 30 years of service may
retire before age 62 and receive reduced retirement benefits. Senior Management Service class members who
retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are
entitled to a retirement benefit payable monthly for life, equal to 2.00% of their final average compensation based
on the five highest years of salary for each year of credited service. Elected OfficersÓ class members who retire at
or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a
retirement benefit payable monthly for life, equal to 3.00% (3.33% for judges and justices) of their final average
compensation based on the five highest years of salary for each year of credited service. Substantial changes
were made to the Pension Plan during fiscal year 2011, affecting new members enrolled on or after July 1, 2011
by extending the vesting requirement to eight years of credited service and increasing normal retirement to age 65
or 33 years of service regardless of age. Also, the final average compensation for these members is based on the
eight highest years of salary.
The HIS Plan provides a monthly benefit to assist retirees in paying their health insurance costs and is
administered by the Florida Department of Management Services, Division of Retirement. Eligible retirees and
beneficiaries receive a monthly health insurance subsidy payment of $5 for each year of creditable service, with
a minimum payment of $30 and a maximum payment of $150 per month. The HIS Plan is funded by required
contributions from FRS participating employees as set forth by the Florida Legislature, based on a percentage of
gross compensation for all active FRS members.
In addition to the above benefits, the FRS administers a Deferred Retirement Option Program (ÐDROPÑ). This
program allows eligible members to defer receipt of monthly retirement benefit payments while continuing
employment with a FRS employer for a period not to exceed 60 months after electing to participate. Deferred
monthly benefits are held in the FRS Trust Fund and accrue interest. There are no required contributions by DROP
participants.
For those members who elect participation in the Investment Plan, rather than the Pension Plan, vesting occurs
at one year of service. These participants receive a contribution for self-direction in an investment product with a
third party administrator selected by the State Board of Administration. Employer and employee contributions,
including amounts contributed to individual memberÓs accounts, are defined by law, but the ultimate benefit
depends in part on the performance of investment funds. Benefit terms, including contribution requirements, for
the Investment Plan are established and may be amended by the Florida Legislature. The Investment Plan is
funded with the same employer and employee contribution rates that are based on salary and membership class
(Regular Class, Elected County Officers, etc.), as the FRS defined benefit plan. Contributions are directed to
individual member accounts, and the individual members allocate contributions and account balances among
various approved investment choices. Costs of administering plan, including the FRS Financial Guidance
Program, are funded through an employer contribution of 0.06% of payroll and by forfeited benefits of plan
members.
7
MONROECOUNTY,FLORIDA
PROPERTYAPPRAISER
NOTESTOTHEFINANCIALSTATEMENTS
SEPTEMBER30,2021
NoteЌΓwĻƷźƩĻƒĻƓƷsystem(continued)
The Property Appraiser recognizes pension expenditures in an amount equal to amounts paid to the Pension
Plan, the defined contribution plan, and the HIS Plan amounting to $214,079, $91,698, and $34,111, respectively,
for the fiscal year ended September 30, 2021. The Property AppraiserÓs payments for the Pension Plan and the
HIS Plan after June 30, 2021, the measurement date used to determine the net pension liability associated with
the Pension Plan and HIS Plan, amounted to $79,136 and $9,092, respectively. The Property Appraiser is not
legally required to and does not accumulate expendable available resources to liquidate the retirement obligation
related to its employees. Accordingly, the net pension liability and associated deferred outflows and deferred
inflows are presented on the government-wide financial statements of the County, following requirements of GASB
Statement 68, Accounting and Financial Reporting for Pensions Î an amendment of GASB Statement 27, and
GASB Statement 71, Pension Transition for Contributions Made Subsequent to the Measurement Date Î an
amendment of GASB Statement 68, effective October 1, 2014.
Funding Policy Î All enrolled members of the FRS Pension Plan are required to contribute 3.00% of their salary
to the FRS. In addition to member contributions, governmental employers are required to make contributions to
the FRS based on state-wide contribution rates. The employer contribution rates by job class for the periods from
October 1, 2020 through June 30, 2021 and July 1, 2021 through September 30, 2021, respectively, were as
follows: regular Î 10.00% and 10.82%; county elected officers Î 49.18% and 51.42%; senior management Î
27.29% and 29.01%; and DROP participants Î 16.98% and 18.34%. During the fiscal year ended September 30,
2021, the Property Appraiser contributed to the plan an amount equal to 16.54% of covered payroll.
The state of Florida annually issues a publicly available financial report that includes financial statements and
required supplementary information for the FRS. The latest available report may be obtained by writing to the
state of Florida Division of Retirement, Department of Management Services, P.O. Box 9000, Tallahassee, Florida
32315-9000. That report may be viewed on the Florida Department of Management Services website located at
www.dms.myflorida.com/workforce_operations/retirement/publications.
NoteЍΓhƷŷĻƩpostemploymentbenefitplanΛͻht9.ͼΜ
In addition to the pension benefits described in Note 3, the Property Appraiser offers to its employees a single-
employer defined benefit healthcare plan, which is administered by the Board. Florida Statute 112.0801 requires
the County to provide retirees and their eligible dependents with the option to participate in the OPEB Plan if the
County provides health insurance to its active employees and their eligible dependents. The OPEB Plan provides
medical coverage, prescription drug benefits, and life insurance to both active and eligible retired employees. The
OPEB Plan does not issue a publicly available financial report. No assets are accumulated in a trust that meets
the criteria as set forth in GASB Statement 75, Accounting and Financial Reporting for Post-employment Benefit
Plans Other Than Pensions.
The Board may amend the OPEB Plan design, with changes to the benefits, premiums and/or levels of participant
contribution at any time. On at least an annual basis, in an open session, and prior to the annual enrollment
process, the Board approves the rates for the coming calendar year for the retiree and County contributions.
8
MONROECOUNTY,FLORIDA
PROPERTYAPPRAISER
NOTESTOTHEFINANCIALSTATEMENTS
SEPTEMBER30,2021
NoteЍΓhƷŷĻƩpostemploymentbenefitplanΛͻht9.ͼΜ(continued)
Eligibility for post-employment participation in the OPEB Plan is limited to full-time employees of the County, and
the Constitutional Officers. An employee who retires as an active participant in the OPEB Plan and was hired on
or after October 1, 2001 may continue to participate in the OPEB Plan by paying the monthly premium established
annually by the Board. An employee who retires as an active participant in the plan, was hired prior to October 1,
2001, has at least ten years of full-time service with the County, and meets the retirement criteria of the FRS but
is not eligible for Medicare, may maintain group health insurance benefits with the County following retirement,
provided the retiring employee contributes the amounts shown in the table below.
(1)
ContributionasPercentageofAnnualActuarialRate
PlanYearsofServicewithMonroeCounty
Year
25+20241019
(2)
2018 HIS 17% 18%
2019 HIS 18% 26%
2020 HIS 20% 34%
2021 HIS 22% 42%
2022 & Thereafter HIS 25% 50%
(1)
The new retiree contributions began a five-year phased-in approach beginning
January 1, 2018.
(2)
Participation in the Plan is at a cost equal to the FRS Health Insurance Subsidy
(HIS) for ten years of service (currently $5 per month for each year of service
credit at retirement with a minimum HIS payment of $30 and a maximum HIS
payment of $150 per month).
Retirees who have met the requirements for early retirement, have not achieved age 60 and whose age and years
of service do not equal 70 (rule of 70) must pay the standard monthly premium until the age criteria or the rule of 70
is met. At that time, the retireeÓs cost of participation will be based on the preceding table. Surviving spouses and
dependents of participating retirees may continue in the plan if eligibility criteria specific to those classes are met.
An employee who retires as an active participant in the plan, was hired prior to October 1, 2001, has at least
ten years of full-time service with the County, and meets the retirement criteria of the FRS and is eligible for
Medicare at the time of retirement or becomes eligible for Medicare following retirement, may maintain group
health insurance benefits with the County following retirement, provided the retiring employee contributes the
Actuarial Rate for Medicare retirees as determined by the actuarial firm engaged by the County, less a $250 per
month County subsidy. Alternatively, retirees meeting these criteria may elect to leave the County health plan and
receive a $250 per month payment from the County, payable for the lifetime of the retiree.
The Board engages an actuarial firm on a biannual basis to determine the CountyÓs accrued net OPEB liability. The
Property Appraiser has no responsibility to the OPEB Plan other than to make the periodic payments determined by
the Board, which are presented as expenditures when made and amounted to $80,460 for the year ended
September 30, 2021. Further information about the OPEB Plan is available in the CountyÓs Annual Comprehensive
Financial Report which is published on the Property AppraiserÒs website at www.clerk-of-the-court.com.
9
MONROECOUNTY,FLORIDA
PROPERTYAPPRAISER
NOTESTOTHEFINANCIALSTATEMENTS
SEPTEMBER30,2021
NoteЎΓwźƭƉmanagement
The Property Appraiser is exposed to various risks of loss related to tort; theft of, damage to, and destruction of
assets; errors and omissions; injuries to employees; and natural disasters. The Property Appraiser participates in
the coverage provided by the Board for WorkersÓ Compensation, Group Insurance, and Risk Management internal
service funds. Under these programs, WorkersÓ Compensation provides $500,000 coverage per claim for regular
employees. WorkersÓ Compensation claims in excess of the self-insured coverage are covered by an excess
insurance policy. Risk Management has a $5,000,000 excess insurance policy for general liability claims with a
$200,000 self-insured retention and building property damage is covered for the actual value of the buildings with
a deductible of $50,000. Deductibles for windstorm and flood vary by location. The County purchases commercial
insurance for claims in excess of coverage provided by the funds and for all other risks of loss. Settled claims
have not exceeded this commercial coverage in any of the past three years. The Property Appraiser makes
payments to the WorkersÓ Compensation, Group Insurance, and Risk Management Funds based on estimates of
the amounts needed to pay prior and current year claims.
NoteЏΓ/ƚƒƒźƷƒĻƓƷƭ
Operating Leases Î The Property Appraiser leases office equipment under various operating lease agreements.
Total lease expenditures amounted to $32,063 during the year ended September 30, 2021.
The following is a schedule by years of minimum future obligations under noncancelable operating leases as of
September 30:
YearsEndingSeptember30,
2022$ 27,411
2023 12,111
2024 3,584
$ 43,106
NoteАΓ\[źƷźŭğƷźƚƓ
The Property Appraiser is a party from time to time in various lawsuits and other claims incidental to the ordinary
course of its operation, some of which are covered by the BoardÓs self-insurance program. While the results of
litigation cannot be predicted with certainty, management believes the final outcome of such litigation will not have
a material adverse effect on the Property AppraiserÓs financial position.
10
REQUIREDSUPPLEMENTARYINFORMATION
MONROECOUNTY,FLORIDA
PROPERTYAPPRAISER
SCHEDULEOFREVENUESANDEXPENDITURESΑBUDGETANDACTUALΑ
GENERALFUND
YEARENDEDSEPTEMBER30,2021
GeneralFund
Variancewith
FinalBudget
OriginalFinalPositive
BudgetBudgetActual(Negative)
Revenues:
Intergovernmental:
Board of County Commissioners4,207,048$ 4,215,741$ 4,215,741$ -$
Charges for Services:
Other taxing districts431,934 431,934 431,934 -
Investment income- - 1,468 1,468
Miscellaneous- - 2,950 2,950
Total Revenues4,638,982 4,647,675 4,652,093 4,418
Expenditures:
Current:
Personnel services3,390,288 3,398,981 2,593,591 805,390
Operating expenditures1,148,694 1,148,694 1,125,915 22,779
Capital outlay100,000 100,000 3,147 96,853
Total Expenditures4,638,982 4,647,675 3,722,653 925,022
Excess of revenues over (under)
expenditures- - 929,440 (929,440)
Other Financing Uses:
Transfers to Board of County Commissioners - - (843,062) (843,062)
Transfers to other governmental units- - (86,378) (86,378)
Total Other Financing Uses- - (929,440) (929,440)
Net change in fund balance- - - -
Fund balance, beginning of year- - - -
Fund balance, end of year-$ -$ -$ -$
11
SUPPLEMENTARYREPORTS
ReportofIndependentAuditoronInternalControloverFinancialReportingandon
ComplianceandOtherMattersBasedonanAuditofFinancialStatements
PerformedinAccordancewith GovernmentAuditingStandards
To the Honorable Scott Russell
Property Appraiser of Monroe County, Florida
We have audited, in accordance with auditing standards generally accepted in the United States of America and
the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller
General of the United States, the financial statements of the major fund of the Monroe County, Florida Property
Appraiser (the ÐProperty AppraiserÑ) as of and for the year ended September 30, 2021, and the related notes to
financial statements, and have issued our report thereon dated March 15, 2022 for the purpose of compliance
with Section 218.39(2), Florida Statutes, and Chapter 10.550, Rules of the Auditor General-Local Governmental
Entity Audits.
InternalControloverFinancialReporting
In planning and performing our audit of the financial statements, we considered the Property Appraiser's internal
control over financial reporting (Ðinternal controlÑ) as a basis for designing audit procedures that are appropriate
in the circumstances for the purpose of expressing our opinion on the financial statements, but not for the purpose
of expressing an opinion on the effectiveness of the Property Appraiser's internal control. Accordingly, we do not
express an opinion on the effectiveness of the Property Appraiser's internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal
control, such that there is a reasonable possibility that a material misstatement of the Property AppraiserÓs financial
statements will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a
deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet
important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section
and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant
deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that
we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.
ComplianceandOtherMatters
As part of obtaining reasonable assurance about whether the Property AppraiserÓs financial statements are free
from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations,
contracts, and grant agreements, noncompliance with which could have a direct and material effect on the financial
statements. However, providing an opinion on compliance with those provisions was not an objective of our audit
and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of
noncompliance or other matters that are required to be reported under Government Auditing Standards.
ĭĬŷ͵ĭƚƒ
PurposeofthisReport
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the
results of that testing, and not to provide an opinion on the effectiveness of the Property AppraiserÓs internal control
or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing
Standards in considering the Property AppraiserÓs internal control and compliance. Accordingly, this
communication is not suitable for any other purpose.
Tampa, Florida
March 15, 2022
13
Independent!ǒķźƷƚƩƭManagementLetter
To the Honorable Scott Russell
Property Appraiser of Monroe County, Florida
ReportontheFinancialStatements
We have audited the financial statements of the Monroe County, Florida Property Appraiser (the "Property
Appraiser"), as of and for the year ended September 30, 2021, and we have issued our report thereon dated
March 15, 2022.
!ǒķźƷƚƩƭResponsibility
We conducted our audit in accordance with auditing standards generally accepted in the United States of America
and the standards applicable to financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States; and Chapter 10.550, Rules of the Auditor General.
OtherReportingRequirements
We have issued our Report of Independent Auditor on Internal Control over Financial Reporting and on
Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with
Government Auditing Standards, and Report of Independent Accountant on Compliance with Local Government
Investment Policies regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor
General. Disclosures in those reports, which are dated March 15, 2022, should be considered in conjunction with
this management letter.
PriorAuditFindings
Section 10.554(1)(i)1., Rules of the Auditor General, requires that we determine whether or not corrective actions
have been taken to address findings and recommendations made in the preceding annual financial audit report.
There were no recommendations made in the preceding annual financial audit report.
OfficialTitleandLegalAuthority
Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal authority for
the primary government and each component unit of the reporting entity be disclosed in this management letter,
unless disclosed in the notes to the financial statements. The Property Appraiser is a separately elected county
official established pursuant to the Constitution of the state of Florida. There are no component units related to
the Property Appraiser.
FinancialManagement
Section 10.554(1)(i)2., Rules of the Auditor General, requires that we communicate any recommendations to
improve financial management. In connection with our audit, we did not have any such recommendations.
AdditionalMatters
Section 10.554(1)(i)3., Rules of the Auditor General, requires that we communicate noncompliance with provisions
of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect
on the financial statements that is less than material but which warrants the attention of those charged with
governance. In connection with our audit, we did not have any such findings.
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PurposeofthisLetter
The purpose of this management letter is to communicate certain matters prescribed by Chapter 10.550, Rules
of the Auditor General. Accordingly, this management letter is not suitable for any other purpose.
Tampa, Florida
March 15, 2022
15
ReportofIndependentAccountantonCompliance
withLocalGovernmentInvestmentPolicies
To the Honorable Scott Russell
Property Appraiser of Monroe County, Florida
We have examined the Monroe County, Florida Property AppraiserÓs (the ÐProperty AppraiserÑ) compliance with
the local government investment policy requirements of Section 218.415, Florida Statutes, during the year ended
September 30, 2021. Management of the Property Appraiser is responsible for the Property AppraiserÓs
compliance with the specified requirements. Our responsibility is to express an opinion on Property AppraiserÓs
compliance with the specified requirements based on our examination.
Our examination was conducted in accordance with attestation standards established by the American Institute
of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain
reasonable assurance about whether the Property Appraiser complied, in all material respects, with the specified
requirements referenced above. An examination involves performing procedures to obtain evidence about
whether the Property Appraiser complied with the specified requirements. The nature, timing, and extent of the
procedures selected depend on our judgment, including an assessment of the risks of material noncompliance,
whether due to fraud or error. We believe that the evidence obtained is sufficient and appropriate to provide a
reasonable basis for our opinion.
Our examination does not provide a legal determination on the Property AppraiserÓs compliance with the specific
requirements.
In our opinion, the Property Appraiser complied, in all material respects, with the local investment policy
requirements of Section 218.415, Florida Statutes, during the year ended September 30, 2021.
The purpose of this report is to comply with the audit requirements of Section 218.415, Florida Statutes, and Rules
of the Auditor General.
Tampa, Florida
March 15, 2022
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