Fiscal Year 2021
MONROE COUNTY, FLORIDA
ANNUAL COMPREHENSIVE
FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED
SEPTEMBER 30, 2021
KEVIN MADOK, CPA
CLERK OF THE CIRCUIT COURT & COMPTROLLER
PREPARED BY:
CLERK OF THE CIRCUIT COURT FINANCE DEPARTMENT
PAM RADLOFF, CPA
FINANCE DIRECTOR
MONROE COUNTY, FLORIDA
ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2021
PAGE
INTRODUCTORY SECTION
Transmittal Letter of the Clerk of the Circuit Courts and ComptrollerA-1
Certificate of Achievement for Excellence in Financial ReportingA-8
List of Elected and Appointed OfficialsA-9
Organizational ChartA-10
FINANCIAL SECTION
Report of Independent AuditorB-1
Management's Discussion and AnalysisC-1
Basic Financial Statements:
Government-Wide Financial Statements
Statement of Net PositionD-1
Statement of ActivitiesD-3
Fund Financial Statements
Balance Sheet - Governmental FundsE-1
Reconciliation of the Balance Sheet of Governmental Funds to the
Statement of Net PositionE-3
Statement of Revenues, Expenditures, and Changes in Fund Balances -
Governmental FundsE-4
Reconciliation of the Statement of Revenues, Expenditures, and Changes in
Fund Balances of Governmental Funds to the Statement of ActivitiesE-6
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
Major Governmental Funds:
General FundE-7
Fine and Forfeiture Special Revenue FundE-12
HIDTA Grants Special Revenue FundE-14
Governmental Grants Special Revenue FundE-15
Statement of Net Position - Proprietary FundsE-18
Statement of Revenues, Expenses, and Changes in Net Position -
Proprietary FundsE-22
Statement of Cash Flows - Proprietary FundsE-24
Statement of Fiduciary Net Position - Fiduciary FundsE-28
Statement of Changes in Fiduciary Net Position - Fiduciary FundsE-29
Notes to Financial StatementsF-1
Required Supplementary Information
Schedule of Monroe County Proportionate Share of Net Pension Liability
Florida Retirement System Pension PlanG-1
Schedule of Monroe County Contributions Florida Retirement System Pension PlanG-3
Schedule of Monroe County Proportionate Share of Net Pension Liability
Health Insurance Subsidy ProgramG-5
Schedule of Monroe County Contributions Health Insurance Subsidy ProgramG-7
Schedule of Changes in the County's Net Pension Liability and Related Ratios
Pension Plan for Volunteer Firefighters and Emergency Medical ServicesG-9
Ten Year Schedule of Employer Contributions Pension Plan for Volunteer Firefighters
and Emergency Medical ServicesG-11
MONROE COUNTY, FLORIDA
ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2021
PAGE
Schedule of Changes in the County's Total OPEB Liability and Related RatiosG-13
Combining and Individual Fund Statements and Schedules:
Combining Balance Sheet - Nonmajor Governmental FundsH-1
Combining Statement of Revenues, Expenditures, and Changes in Fund H-13
Balances - Nonmajor Governmental Funds
Schedules of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
Special Revenue Funds and Capital Projects Funds:
Affordable Housing ProgramsH-25
Road and Bridge H-26
Tourist Development, All Districts, Two CentH-27
Tourist Development, Administration and Promotional, Two CentH-28
Tourist Development, District OneH-29
Tourist Development, District TwoH-30
Tourist Development, District ThreeH-31
Tourist Development, District FourH-32
Tourist Development, District FiveH-33
Impact Fees - RoadwaysH-34
Impact Fees - Parks and RecreationH-35
Impact Fees - LibrariesH-36
Impact Fees - Solid WasteH-37
Impact Fees - Fire and EMSH-38
Fire and Ambulance, District #1 - Lower and Middle KeysH-39
Unincorporated Area Service District - Parks and RecreationH-40
Unincorporated Area Service District - Planning, Building, and ZoningH-41
Municipal PolicingH-43
Duck Key Security DistrictH-44
Local Housing AssistanceH-45
Boating ImprovementH-46
Miscellaneous H-47
Environmental RestorationH-49
Court Facility FeesH-50
Drug Abuse TrustH-51
Marathon Municipal Service Taxing UnitH-52
Middle Keys Health Care Municipal Service Taxing UnitH-53
Bay Point Municipal Service Taxing UnitH-54
Big Coppitt Municipal Service Taxing UnitH-55
Key Largo Municipal Service Taxing UnitH-56
Stock Island Wastewater Municipal Service Taxing UnitH-57
Conch Key Municipal Service Taxing UnitH-58
Long Key-Layton Municipal Service Taxing UnitH-59
Duck Key Municipal Service Taxing UnitH-60
Canal #266 Municipal Service Business UnitH-61
Building FundH-62
Clerk's Revenue Note Capital Projects FundH-63
Infrastructure Revenue Bonds Series 2007 Capital Projects FundH-64
Big Coppitt Wastewater Project Capital Projects FundH-65
Duck Key Wastewater Project Capital Projects FundH-66
Long Key Wastewater Project Capital Projects FundH-67
MONROE COUNTY, FLORIDA
ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2021
PAGE
Land Acquisition Fund Capital Projects FundH-68
Sheriff's Teen CourtH-69
Sheriff's Federal ForfeitureH-70
Sheriff's State ForfeitureH-71
Sheriff's Contract AdministrativeH-72
Sheriff's CommissaryH-73
Sheriff's Interagency Communications H-74
Sheriff's Trauma StarH-75
Sheriff's Radio CommunicationsH-76
Sheriff's GrantsH-77
Sheriff's Shared Asset ForfeitureH-78
Sheriff's E911H-79
Clerk's Records Modernization H-80
Clerk's Court RelatedH-81
Schedules of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
Major Governmental Funds:
One Cent Infrastructure Surtax Capital Project FundH-82
Infrastructure Revenue Bonds Series 2014 Capital Projects FundH-83
Cudjoe Regional Wastewater Capital Project FundH-84
All Debt Service FundsH-85
Combining Statement of Net Position - Internal Service FundsH-86
Combining Statement of Revenues, Expenses, and Changes in Net Position -
Internal Service FundsH-87
Combining Statement of Cash Flows - Internal Service FundsH-89
Combining Statement of Fiduciary Net Position - All Fiduciary FundsH-95
Combining Statement of Changes in Fiduciary Net Position - All Fiduciary FundsH-97
STATISTICAL SECTION
IntroductionI-1
Net Position by ComponentI-2
Changes in Net PositionI-3
Governmental Activities Tax Revenues By SourceI-6
Fund Balances of Governmental FundsI-7
Changes in Fund Balances of Governmental FundsI-8
General Governmental Tax Revenues By SourceI-10
Assessed Value and Estimated Actual Value of Taxable PropertyI-11
Direct and Overlapping GovernmentsI-12
Principal Property TaxpayersI-13
Property Tax Levies and CollectionsI-14
Ratios of Outstanding Debt by TypeI-15
Ratios of General Bonded Debt OutstandingI-16
Direct and Overlapping Governmental Activities DebtI-17
Legal Debt Margin InformationI-18
Pledged-Revenue Coverage - Governmental ActivitiesI-19
Pledged Revenue Bonds and Notes - Business-Type ActivitiesI-20
Demographic and Economic StatisticsI-21
MONROE COUNTY, FLORIDA
ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2021
PAGE
Principal EmployersI-22
Full-time Equivalent County Government Employees by FunctionI-23
Operating Indicators by FunctionI-24
Capital Asset Statistics by FunctionI-25
SINGLE AUDIT/GRANTS COMPLIANCE SCHEDULES
Report of Independent Auditor on Internal Control over Financial Reporting and on J-1
Compliance and Other Matters Based on an Audit of Financial Statements
Performed in Accordance with Government Auditing Standards
Report of Independent Auditor on Compliance for Each Major Federal AwardsJ-3
Program and State Financial Assistance Projects and on Internal Control
Over Compliance Required by the Uniform Guidance and Chapter 10.550,
Rules of the Auditor General
Schedule of Expenditures of Federal Awards and State Financial Assistance ProjectsJ-5
Notes to Schedule of Expenditures of Federal Awards and State FinancialJ-12
Assistance Projects
Schedule of Findings and Questioned Costs - Federal Awards Programs and StateJ-14
Financial Assistance Projects
Corrective Action PlanJ-17
Summary Schedule of Prior Year Audit Findings - Federal Awards Programs and StateJ-18
Financial Assistance Projects
Independent Auditor's Management LetterK-1
Report of Independent Accountant on Compliance with Local Government
Investment Policies and E911 Requirements of Sections
365.172 and 365.173, Florida StatutesK-4
OTHER INFORMATION
Schedule of Receipts and Expenditures of Funds
Related to the Deepwater Horizon Oil SpillL-1
March 31, 2022
The Honorable David Rice
Mayor, Board of County Commissioners
Citizens of Monroe County, Florida
We are pleased to submit the Annual Comprehensive Financial Report for Monroe County,
Florida for the fiscal year (FY) ended September 30, 2021.
is prepared by the Finance Department under
the direction of the Clerk of the Circuit Court & Comptroller (Clerk). Responsibility for both the
accuracy of the presented data and the completeness and fairness of the presentation, including
all disclosures, rests with the Clerk as Chief Financial Officer of Monroe County, Florida (the
County). We assert that, to the best of our knowledge and belief, this financial report is complete
and reliable in all material aspects. It is presented in a format designed to fairly present the
financial position and results of operations of the County as measured by the financial activity.
All disclosures needed to allow the reader to gain a comprehensive understanding of the
y have been included.
The County has established a comprehensive internal control framework that is designed both to
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. Because the cost of internal controls should not outweigh their benefits, the
objective is to provide reasonable rather than absolute assurance that the financial statements will
be free of material misstatement.
In addition, the Federal Single Audit Act, the Florida Single Audit Act and Title 2 U.S. Code of
Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards, require an independent auditor
internal controls and compliance with legal requirements concerning the administration of
federal awards and state financial assistance. The report, Single Audit/Grants Compliance
Schedules, is published in this report to fulfill these requirements.
Independent Audit
In compliance with Florida Statute Chapter 218.39, an independent certified public accountant is
to audit the financial statements of counties in
s on the Monroe County, Florida financial
statements for the year ended September 30, 2021. The report of the independent auditor is
located at the front of the Financial Section in this report.
Management Discussion and Analysis
GAAP requires that management provide a narrative introduction, overview, and analysis to
accompany the basic financial statements in the fo
(MD&A). The MD&A can be found immediately following the report of the independent auditor
in this report and fulfills this requirement. This Letter of Transmittal is designed to complement
the MD&A and should be read in conjunction with it.
Monroe County Profile
Basic Information
Monroe County was constitutionally formed in 1823. It is comprised of a string of subtropical
islands that stretch more than one hundred miles into the Atlantic Ocean. These islands are
connected in a chain-like fashion to the mainland by a series of forty-two bridges. The longest
the Middle Keys to Little Duck
Key in the Lower Keys. It was among the longest bridges in existence when it was initially built
from 1909 to 1912. A new bridge was finished in 1982 but the old bridge still remains in place
and services, via pedestrians and cyclists, Pigeon Key, the historic island at the center of the
bridge.
Monroe County is the southernmost county in the United States with only one road, U.S. 1,
connecting some of the islands known as the Florida Keys. The Zero Mile Marker for U.S. 1 is
outside of the County courthouse in Key West. The majority of U.S. 1 was built on the former
ast Railroad which was destroyed as a direct
result of the 1935 hurricane. This road is 2,369 miles from Key West to Fort Kent, Maine, at the
Canadian border. The Monroe County section of the road is more commonly known as the
ida Keys Scenic Highway. The corridor extends
five miles into the crystal clear waters on each side of the highway.
The County seat, Key West, is approximately one hundred and fifty miles southwest of Miami.
Havana, Cuba lies a mere ninety miles to the south. The County is identified by the Florida
Department of Economic Opportunity, Division of Community Planning and Development as the
ental sensitivity of its lands.
Program which reviews all growth and development decisions as outlined in comprehensive
plans and the land development regulations.
Monroe County is a non-charter county established under the Constitution and the laws of the
State of Florida. Legislative authority and policy decisions are vested in the Board of County
Commissioners (Board) consisting of the mayor and four other members, all of whom are
elected. The operation of other specific government functions resides with five Constitutional
Officers. These Officers are elective and their titles indicative of their specific function. The
positions are the Clerk of the Court and Comptroller, Property Appraiser, Sheriff, Supervisor of
Elections, and Tax Collector. Monroe County provides a full range of services including roads,
A2
health and social services, emergency medical services, park and recreational services, solid
waste services, airport services, and other governmental services.
Reporting Entity
For financial reporting purposes, the County's primary government consists of the Board of
County Commissioners, the Constitutional Officers, and the Monroe County Industrial
Development Authority, a blended corporate unit. The Monroe County Comprehensive Plan
Land Authority is legally separate and is treated as a discretely-presented component unit.
Additional information can be found in Note 1 of the Notes to the Financial Statements.
Budget
According to Florida Statutes, Chapter 129, a budget shall be prepared, balanced, approved,
adopted, and executed each fiscal year (October 1 through September 30). The Board conducts
budget meetings on departmental budgets and Constitutional Offi A tentative
budget is prepared, reviewed, and adopted and the tax levies are calculated and advertised. Three
public hearings are held for public input regarding the tentative budgets and proposed tax levies.
On the last of the three public hearings a final budget is approved by the Board.
Formal budgetary integration is employed as a management control device during the year for all
Office of Management and Budget acts on
intradepartmental cost center budget changes and interdepartmental cost center budget changes
are submitted to the Board as a Budget Resolution for approval. A budget amendment is required
budget amendment after public hearings are held.
Budget to Actual Statements are presented in various locations in this report and the budget
process is further explained in Note 1 to the Financial Statements.
Economic Condition and Outlook
Local Economy
Monroe County occupies a unique and beautiful corner of the United States. The County has the
only living coral barrier reef in the continental United States and includes the Florida Keys
National Marine Sanctuary, the largest national marine sanctuary. The Florida Keys outer reefs
form the third largest barrier reef system in the world. The Florida Keys offers mild climate year-
round and extensive recreational water activities. This makes the Florida Keys and Key West a
major domestic and international tourist destination.
rgely dependent on the tourism and hospitality industries.
Beginning in March 2020 through the remainder of the calendar year, the County experienced
significant disruptions to its economy due to the global pandemic caused by a novel strain of
coronavirus (COVID-19). Because of travel restrictions, stay at home orders, and closures of
A3
non-essential businesses, the leisure and hospitality sectors were hit the hardest. Unemployment
in the County rose sharply from 2.8% to 17.7% in May 2020.
les tax revenues shrank. During peak closure
months of April, May, and June 2020, the C
64% , and 52% respectively. Local bed tax revenues also experienced declines of 46%, 91%, and
88% respectively.
During FY 2021, the County saw improved economic indicators and Monroe County slowly
begun its recovery from the negative impacts from the pandemic. In fact, because international
travel was restricted throughout FY 2021, many found traveling to the Florida Keys an ideal
vacation spot. The County saw its one cent infrastructure sales surtax increase over 44% and its
tourist development tax increase over 76% in FY 2021.
In FY 2020, the County also secured $13 million in financial assistance from the federal and
state governments through the Coronavirus Aid, Relief, and Economic Security (CARES) Act to
provide much needed fiscal relief. The County allocated the $13 million in CARES Act dollars
among local renters, homeowners, small businesses, nonprofit organizations, and local
government partners. In May 2021, Congress also passed the American Rescue Plan Act
(ARPA) that provides additional emergency funding in response to the pandemic. The County
received an additional $14.4 million in ARPA funding in FY 2021 which may be expended
through December 2026. Monroe County will be making decision for the effective use of these
funds.
Long-term Financial Planning
The County is balancing the use of ad valorem tax revenues with the maintenance of General
Fund reserves to insulate the General Fund from revenue fluctuations due to disasters of any kind
and provide adequate working capital for operations. The Board continues to respond to ongoing
economic conditions by maintaining rigorous cost controls, instituting hiring freezes and
scrutinizing the cost benefit of outside contractors. The Board continues to focus on its efforts to
balance costs, services to Monroe County citizens, and reductions in its revenue base.
The County provides healthcare coverage for 425 retirees. In the accompanying government-
wide financial statements, the County recognizes the present value of projected postemployment
benefits (OPEB) to be provided to current and inactive employees attributable to past periods of
service. This projection results in a reported long-term liability of over $60 million in FY 2021.
At September 30, 2021, the County had long-term debt in the amount of $306.3 million. This
debt is mainly comprised of direct borrowing of revenue bonds and notes secured by pledges of
revenues. Revenue-secured debt for governmental activities was $173.9 million. During FY
2021, the County extinguished its debt related to the $40 million borrowed in FY 2018 for its
Hurricane Irma recovery and debris clean-up.
During FY 2021, the County issued Taxable Revenue Note, Series 2021 which is a $10 million
revolving line of credit to finance the planning and
A4
expansion project. As the County begins the next phases of this project, it plans to issue bonds in
FY 2022 to finance the estimated $80 million construction costs
expansion project. As of September 30, 2021, $748,000 was drawn from the line of credit.
Major Initiatives
Capital project funding is derived from multiple sources which include impact fees, various
grants, One Cent Infrastructure Sales Surtax, state revolving funds, and the issuance of revenue
bonds.
A large revenue source for capital projects is derived from the One Cent Infrastructure Surtax.
The tax, maintained in a separate fund, allows for the imposition on both residents and visitors a
one percent tax on most purchases in the County. This revenue source has generated over $480.2
million since its 1990 inception. In FY 2013, Monroe County residents approved a referendum
providing an extension of the One Cent Infrastructure Sales Surtax to FY 2033.
tifies capital projects that are to be funded
from FY 2020 through FY 2024, a five-year period. The adopted annual capital budget
represents the first year of the multi-year Plan. The Plan also allows the County to maintain the
value of its long-term infrastructure assets such as buildings, roads, bridges, and parks.
Some of the highlights from the 2020-2024 Plan to be funded with One Cent Infrastructure
Surtax include:
General Government:
- $1.2 million for the purchase of the Ocean Reef Emergency Building;
- $4.3 million for the purchase of Public Defender Building; and
- $5.1 million for the update to the Senior Nutrition Center.
Public Safety:
- $35.9 million for building the Plantation Key Courthouse and Jail.
Transportation:
st
- $1.4 million for 1 Street and Bertha Avenue drainage project.
- $4.7 million for Stock Island road and drainage project
Culture and Recreation:
-
-
- $.8 million for Big Pine Key Swimming Hole; and
- $.5 million for the Pigeon Key ramp.
The following are major capital projects that were substantially completed in FY 2021:
Cudjoe Regional Wastewater Project;
A5
Marathon Public Library;
Cudjoe Fire Station; and
Key West Airport storage/maintenance building
Key West Airport customs.
Relevant Financial Policies
The Board strives to adhere to sound financial management principles to ensure that sufficient
funds are available to maintain a stable financial base for the County. To achieve a stable
financial base, the County budgets to maintain fund balances sufficient to f
flow needs, to provide financial reserves for unanticipated expenditures or unexpected revenue
shortfalls, to provide funds for the disparity in timing between property tax collection, sales tax
distributions as well as other revenues and expenditures, and to secure and maintain investment
grade bond ratings.
In accordance with Section 218.415, Florida Statut
in January 2019, establishes investment objectives, maturity and liquidation requirements,
portfolio composition, risk and diversification requirements, and authorized investments. The
primary objective of investment activity is the safety of the principal of funds and maintain
sufficient liquidity to meet anticipated cash flow needs. A secondary objective is to obtain
competitive returns on the investment of the C
requires governmental entities to classify a fund balance into one of five categories to indicate
the constraints imposed upon these resources: non-spendable, restricted, committed, assigned
and unassigned. An unassigned fund balance is the residual classification that includes all
spendable amounts not contained within the other four classifications.
Unrestricted fund balance is the amount of fund balance that the Board has placed constraints on
its use (committed or assigned fund balance) plus the fund balance that does not have any
specific purpose identified for the use of those net resources (unassigned fund balance).
It is the goal of the Board to achieve and maintain an unrestricted General Fund balance equal to
four months of budgeted expenditures. To achieve this goal,
dictates that the County shall plan to adjust budget resources in the subsequent fiscal years to
restore the balance. Appropriation from unrestricted General Fund balance shall require Board
approval and shall be only for one-time expenditures, such as capital purchases, and not for
ongoing expenditures unless a viable plan designated to sustain the expenditures is
simultaneously adopted.
The Board has the responsibility of responding to emergency disaster and has $10 million in
disaster reserve funds to ensure adequate cash flow is available in post-disaster situations. In the
event these funds fall below the set amount, an action plan to begin replenishment to the
appropriate level will be addressed in the ensuing budget year.
A6
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
Monroe County
Florida
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
September 30, 2020
Executive Director/CEO
MONROECOUNTY,FLORIDA
BOARDOFCOUNTYCOMMISSIONERS
MICHELLE COLDIRON, MAYOR
DISTRICT 2
CRAIG CATESVACANT
DISTRICT 1DISTRICT 3
DAVID RICEHOLLY RASCHEIN
DISTRICT 4DISTRICT 5
ROMAN GASTESI
COUNTY ADMINISTRATOR
KEVIN MADOK, CPA
CLERK OF THE CIRCUIT COURT AND
COMPTROLLER
A-9
A10
ReportofIndependentAuditor
To the Honorable Mayor and Board County Commissioners
Monroe County, Florida
ReportontheFinancialStatements
We have audited the accompanying financial statements of the governmental activities, the business-type
activities, the discretely presented component unit, each major fund, and the aggregate remaining fund
of and for the year ended September 30, 2021, and the
related notes to the financial statements, which collectivic financial statements as
listed in the table of contents.
ResponsibilityfortheFinancialStatements
Management is responsible for the preparation and fair presentation of these financial statements in accordance
with accounting principles generally accepted in the United States of America; this includes the design,
implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial
statements that are free from material misstatement, whether due to fraud or error.
Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted our
audit in accordance with auditing standards generally accepted in the United States of America and the
standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller
General of the United States. Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial statements. The procedures selected depend on
the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers inter
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 effectivene
express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and
the reasonableness of significant accounting estimates made by management, as well as evaluating the overall
presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinions.
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective
financial position of 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, 2021,
and the respective changes in financial position and, where applicable, cash flows thereof and the respective
budgetary comparison for the General Fund, Fine and Forfeiture Fund, HIDTA Grants Fund, and Governmental
Grants Fund for the year then ended in accordance with accounting principles generally accepted in the United
States of America.
ĭĬŷ͵ĭƚƒ
EmphasisofMatters
As discussed in Note 23 to the financial statements, the September 30, 2020 financial statements have been restated
in the amount of $7,381,343 to correct an error. Our opinions are not modified with respect to this matter.
As discussed in Note 22 to the financial statements, the County adopted the provisions of Governmental Accounting
Standards Board Statement No. 84, Fiduciary Activities, effective October 1, 2020. As a result, related net position
and fund balance have been restated. Our opinions are not modified with respect to this matter.
OtherMatters
wĻƨǒźƩĻķ{ǒƦƦƌĻƒĻƓƷğƩǤLƓŅƚƩƒğƷźƚƓ
Accounting principles generally accepted in the United States of America requi
Discussion and Analysis and the required supplementary information as listed in the table of contents be
presented to supplement the basic financial statements. Such information, although not a part of the basic
financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an
essential part of financial reporting for placing the basic 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
to our inquiries, the basic financial statements, and
other knowledge we obtained during our audit of the basic 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.
{ǒƦƦƌĻƒĻƓƷğƩǤğƓķhƷŷĻƩLƓŅƚƩƒğƷźƚƓ
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
introductory section, combining and individual fund
statements and schedules, statistical section, and the schedule of receipts and expenditures of funds related to
the Deepwater Horizon oil spill, as listed in the foregoing table of contents, are presented for purposes of
additional analysis and are not a required part of the basic financial statements. The accompanying Schedule of
Expenditures of Federal Awards and State Financial Assistance Projects is presented for purposes of additional
analysis as required by Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards, and Chapter 10.550, Rules of
Auditor General, and are also not a required part of the basic financial statements.
The combining and individual fund statements, the schedules and the Schedule of Expenditures of Federal
Awards and State Financial Assistance Projects and the schedule of receipts and expenditures of funds related
to the Deepwater Horizon oil spill are the responsibility of management and were derived from and relate
directly to the underlying accounting and other records used to prepare the basic financial statements. Such
information has been subjected to the auditing procedures applied in the audit of the basic financial statements
and certain additional procedures, including comparing and reconciling such information directly to the
underlying accounting and other records used to prepare the basic financial statements or to the basic financial
statements themselves, and other additional procedures in accordance with auditing standards generally
accepted in the United States of America. In our opinion, this information is fairly stated, in all material respects,
in relation to the basic financial statements as a whole.
The introductory and statistical sections have not been subjected to the auditing procedures applied in the audit
of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on
them.
OtherReportingRequiredby GovernmentAuditingStandards
In accordance with Government Auditing Standards, we have also issued our report dated March 31, 2022, on
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
over financial reporting or on compliance. That report is an integral part of an audit performed in accordance
with Government Auditing Standards
compliance.
Tampa, Florida
March 31, 2022
As Finance Department management, under the direction of Monroe
and Clerk of the Circuit Courts and Comptroller, we offer readers this narrative overview and analysis of
the financial activities of Monroe County Government (County) for the fiscal year ended September 30,
2021.
We encourage readers to consider this information in conjunction with additional information furnished
in the letter of transmittal in the Introductory Section of this report and the audited basic financial
statements for an overall view
Financial Highlights
of resources exceeded its total liabilities and
deferred inflows of resources at September 30, 2021 by $831.9 million, an increase of $185.9
million compared to the prior fiscal year. Of this amount, $576.3 million represents net investment
in capital assets; $236.7 million is restricted for specific purposes (restricted net position); and the
remaining portion represents unrestricted net position of $18.9 million.
Comparing FY 2021 with FY 2020, the results of governmental activities produced an increase in
net position of $178.8 million, while in FY 2020 net position decreased by $12.6 million. We
discuss key changes in net position later in
In FY 2021, the net position of business-type activities was restated for a reduction of $7.4 million
due to a prior period adjustment. Capital expenditures that should have been expensed were
capitalized in the prior year.
Comparing FY 2021 with FY 2020, the results of business-type activities produced an increase in
net position of $27.7 million, while in FY 2020 net position increased by $16.6 million. We
discuss key changes in net position later in this MD&A.
governmental funds reported combined ending
fund balances of $236.8 million and $223.9 million, respectively. Of the combined fund balance,
$18.3 million or 7.7% is available scretion (unassigned balance).
und) reported a total fund balance of $43 million,
an increase of $7.2 million from the prior year. This increase refl
recovery from the economic impact of the global pandemic on operations.
Bonded debt and loans of the County decreased $18.5 million in FY 2021. This was comprised of
ared to net position decreased from 30.1% to
20.7%. The other components of long-term debt are discussed in further detail later in this
MD&A.
C-1
Overview of the Financial Statements
This MD&A is intended to serve as an introduction to thial statements, which
include government-wide financial statements, fund financial statements, as well as notes to the
financial statements. This report also contains other supplementary information in addition to the basic
financial statements.
The chart below illustrates the components of the Annual Comprehensive Financial Report:
Components of the Annual Comprehensive Financial Report
Letter of Transmittal and Other General
Introduction
Information on the Government
Section
Management Discussion and Analysis
Government-Wide Financial Statements
Governmental Fund Financial Statements
Basic
Proprietary Fund Financial Statements
Financial
Financial
Section
Fiduciary Fund Financial Statements
Statements
and RSI
Notes to the Financial Statements
Additional Required Supplementary Information
Information on Individual Funds and Other
Supplementary Information Not Required by
GAAP.
Statistical
Trend Data and Nonfinancial Information
Section
Government-Wide Financial Statements
The Government-Wide Financial Statements are designed to provide the reader with a broad overview of
the financial position of the County, in a manner similar to private-sector business. They include a
Statement of Net Position and a Statement of Activities. These statements appear on pages D-1 through
D-4 of this report.
The Statement of Net Position presents information on all of the C
resources, liabilities and deferred inflows of resources, with the difference reported as net position. Over
time, increases or decreases in net position may serve as a useful indicator of whether the financial
position of the County is improving or deteriorating.
The Statement of Activities, which follows the Statement of Net Position, presents information showing
how the net position changed during fiscal year 2021. The statement presents all underlying events,
which contribute to the change, irrespective of the timing of the related cash flows. Thus, revenues and
C-2
expenses are reported in this statement for some items that will only affect cash flows in future fiscal
periods (e.g., uncollected taxes, earned but unused vacation and medical leave).
Both of the aforementioned government-wide financial statements distinguish functions of the 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). The governmental activities reported in the
statements include general government, public safety, physical environment, transportation, economic
environment, human services, culture and recreation, court-related, and interest on long-term debt. The
business-type activities include thnd the Card Sound Road and Toll
Bridge.
The government-wide financial statements include not only the County itself (known as the primary
government) but also the operations of the Monroe County Comprehensive Plan Land Authority.
Financial information for this component unit is reported separately within the government-wide
financial statements from the financial information presented for the primary government.
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. The 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 the 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-17 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. These statements appear on pages E-3 and E-6
of this report.
The governmental fund financial statements present financial information for the Count
special revenue, debt service and capital project funds. Governmental funds individually presented as
ts include: the General Fund; four special revenue funds: Fine and
Forfeiture, High Intensity Drug Trafficking Area (HIDTA) Grants, Governmental Grants, the Debt
Service Fund; and three capital project funds: One Cent Infrastructure Surtax, Infrastructure Revenue
Bonds Series 2014, and Cudjoe Regional Wastewater Project.
There are many smaller governmental funds in the County. They have been presented in a total column
These funds are presented individually in the combining and
individual fund statements section of the report.
C-3
Proprietary Funds. The County maintains two different types of proprietary funds, enterprise and
internal service. The proprietary fund statements appear on E-18 through E-27 of this report.
Enterprise funds are used to report business-type activities in the government-wide financial statements.
The County maintains four major enterprise funds: Municipal Service District Waste, Card Sound
Bridge, Key West International Airport, and the Florida Keys Marathon International Airport. There are
no non-major enterprise funds.
Internal service funds are used to accumulate and
The County uses internal service funds to account for insurance activities (worke
group insurance and risk management) and fleet management 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. The 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 custodial funds by the County as a
custodian for individuals. Fiduciary funds are not reflected in the government-wide financial statements
because the resources of those funds are not available to support the C
accounting used for fiduciary funds is much like that used for proprietary funds. The fiduciary fund
financial statement appears on pages E-28 and E-29 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
Required Supplementary Information includes information for the Florida Retirement System (FRS) and
Health Insurance Subsidy (HIS) Pension Plans, the Volunteer Firefighters and Emergency Medical
Services Length of Service Awards Program (LOSAP) Pension Plan
Employment Benefits (OPEB) program, as provided on pages G-1 through page G-13.
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 major capital project, internal service and custodial funds.
Additional information about the County can be found under the Statistical Section (Section I), the
Single Audit Section (Section J), and Other Information on the expenditures related to the Deepwater
Horizon Oil Spill (Section L) of this report.
C-4
Government-Wide Financial Analysis
The County adopted the government-wide financial statement presentation. This reporting structure and
measurement focus using accrual accounting for all of
Government Accounting Standards Board (GASB) in Statement No. 34, Basic Financial Statements -
ate and Local Governments. Comparative data for
fiscal years ending September 30, 2021 and 2020 is presented.
Monroe County Net Position (in thousands)
The following is a condensed summary of Net Position compared to the prior year.
Governmental Business-type Total Primary
ActivitiesActivitiesGovernment
202120202021202020212020
Current and Other Assets
$ 343,559$ 314,172$ 47,316$ 36,170$ 390,875$ 350,342
Capital Assets
616,467 593,092 134,366 125,243 750,833 718,335
Total Assets
960,026 907,264 181,682 161,413 1,141,708 1,068,677
Deferred Outflows
52,301 70,583 1,597 2,410 53,898 72,993
Current Liabilities
48,484 45,919 5,943 5,027 54,427 50,946
Long-Term Liabilities
283,881 424,716 4,461 8,610 288,342 433,326
Total Liabilities
332,365 470,635 10,404 13,637 342,769 484,272
Deferred Inflows
17,718 10,691 3,167 802 20,885 11,493
Net Position:
Net Investment in Capital
Assets
441,883 399,934 134,366 125,243 576,249 525,177
Restricted
231,594 215,046 5,150 5,402 236,744 220,448
Unrestricted
(11,232) (118,459) 30,192 18,739 18,960 (99,720)
Total Net Position$ 662,245$ 496,521$ 169,708$ 149,384$ 831,953$ 645,905
The largest portion of net position for 2021 and 2020 is nt in capital assets
(e.g., land and depreciated buildings, infrastructure and equipment), less any outstanding debt related to
their acquisition. This category represents 69.2% and 81.3% of total primary government net position
for fiscal years 2021 and 2020, respectively. The County uses these capital assets to provide services to
citizens; consequently, these assets are not av
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.
C-5
The increase in capital assets reof resources to the wastewater
improvement construction and other projects that have an impact on the citizens of the County. The
County also continues to construct improvements to public facilities such as Plantation Key Courthouse
and Detention Center, Cudjoe Fire Station, and the Marathon Public Library.
Total primary government net position above also includes restricted net position. Restricted net position
is resources subject to external restriction on how they may be used. In FY 2021, 28.4% of the total
restricted. The restrictions reported for business-type activities
are comprised of the passenger facility charges and custom service operations. Restrictions reported for
governmental activities are special purpose funds which report the use of resources as designated by
external entities. The remaining component of net position is unrestricted net position. Unrestricted net
ongoing obligations to citizens and creditors.
Comparison of Current Assets and Liabilities (in thousands)
A comparison of current assets to current liabilities for both governmental and business-type activities
can be a good indication of the current and existing operational
responsibilities. The ratios for the current and prior fiscal years are as follows:
GovernmentalBusiness-type
ActivitiesActivities
2021202020212020
Current Assets $ 343,559 $ 314,172 $ 42,166 $ 23,432
Current Liabilities $ 48,484 $ 45,919 $ 5,943 $ 5,027
Ratio of Current Assets to
Current Liabilities7.096.847.104.66
The schedule above demonstrates that the County continues to have adequate cash flows. The
governmental activities ratio of 7.09 and the business-type activities
ability to pay back its current liabilities with available current assets.
Monroe County Changes in Net Position (in thousands)
The following table summarizes the changes in net position for the current and previous year.
Total revenues exceeded total expenses in the current year, resulting in an increa
net position of $193.4 million in FY 2021 compared to an increase in net position of $3.9 million during
FY 2020. The reasons for the overall increase are explained below in the governmental activities and
business-type activities sections.
C-6
GovernmentalBusiness-typeTotal Primary
ActivitiesActivitiesGovernment
202120202021202020212020
Revenues:
Charges for Services$ 52,382$ 46,128$ 36,356$ 30,954$ 8 8,738$ 7 7,082
Operating Grants and Contributions 15,676 1 7,912 24,409 7,738 40,085 2 5,650
Capital Grants and Contributions 24,091 2 9,683 6,632 14,474 30,723 4 4,157
General Revenues:
Property Taxes 96,011 8 9,442 - 96,011- 8 9,442
Other Taxes 115,253 7 2,881 - - 1 15,253 7 2,881
State Revenue Sharing 4,020 3 ,470 - 4,020- 3 ,470
Investment Income 1,356 5 ,264 85 586 1,441 5 ,850
Miscellaneous 2,694 7 ,470 273 183 2,967 7 ,653
Total Revenues 311,483 2 72,250 67,755 53,935 3 79,238 3 26,185
Expenses:
General Government 16,602 4 6,649 - 16,602- 4 6,649
Public Safety 54,233 1 46,768 - 54,233- 1 46,768
Physical Environment 13,389 1 1,429 - 13,389- 1 1,429
Transportation 1,231 8 ,390 - 1,231- 8 ,390
Economic Environment 34,853 3 9,804 - 34,853- 39,804
Human Services 10,165 1 2,030 - 10,165- 1 2,030
Culture and Recreation 4,771 7 ,212 - 4,771- 7 ,212
Court Related 8,161 1 1,316 - 8,161- 1 1,316
Interest on Long Term Debt 3,580 3 ,610 - 3,580- 3 ,610
Municipal Service District Waste - - 20,237 19,630 20,237 1 9,630
Card Sound Bridge - - 453 1,109 453 1 ,109
Key West Airport - - 16,469 12,873 16,469 1 2,873
Marathon Airport - - 1,665 1,453 1,665 1 ,453
Total Expenses 146,985 2 87,208 38,824 35,065 1 85,809 3 22,273
Change in Net Position before transfers 164,498 (14,958) 28,931 18,870 1 93,429 3 ,912
Transfers 1,225 2 ,264 (1,225) (2,264) - -
Change in Net Position 165,723 (12,694) 27,706 16,606 1 93,429 3 ,912
Total Net Position-October 1 496,521 509,215 149,384 132,778 645,905 641,993
Restatement - Prior Period Adjustment - - (7,381) (7,381)- -
Net Position - October 1 (as Restated) 496,521 509,215 142,003 132,778 6 38,524 6 41,993
Net Position - Ending$ 662,244$ 496,521$ 169,709$ 149,384$ 831,953$ 6 45,905
Governmental Activities
The increase in net position for governmental activities for operations was $165.7 million during FY
2021. In contrast, the change in net position decreased a negative $15 million in FY 2020. During FY
2020, an outbreak of a novel strain d globally. As a result of the
COVID-19 pandemic, the County, like other governmental entities, had to face economic uncertainties.
Therefore, throughout most of FY te and manage its response to
the pandemic resulting in a decrease in its net position for governmental activities. The significant
increase in net position in FY 2021 reflects
pandemic.
C-7
Other highlights for governmental activity revenue and expenses are as follows:
Revenues
Charges for Services increased by 44.1% between FY 2020 and FY 2021. The increase can be
directly linked to the impact the COVID-19 pandemic had on
through FY 2020, the County closed many of its offices for safety purposes. The closing impacted
rvices to the General Public. These offices re-opened during FY
2021.
Tourist Development revenue FY 2021 totaled $56.6 million, which is a 76.3% increase from the
previous fiscal year of $32.1 million. During FY 2020, tourism was negatively impacted by the
COVID-19 pandemic. Not only was tourism down due to the closing of US Highway 1 for over
two months but many of the hotels managed their response to the pandemic by placing restrictions
on how many rooms they could fill. Throughout FY 2021, the County experienced an economic
rebound that corresponded to the lifting of the restrictions put in place in FY 2020.
Sales Taxes (1/2 Cent Sales Tax and One Cent Infrastructure Tax) were $43.7 million in FY 2021
compared to $30 million in FY 2020, which was an increase by $13.7 million or 45.6%. With the
tourist industry being negatively impacted by the pandemic FY 2020 and rebounding in FY 2021,
the tax revenue primarily paid by tourists increased accordingly.
Operating Grants and Contributions decreased by $2.2 million or 12.3%, while Capital Grants and
Contributions decreased by $5.6 million or 18.9%. Grants are nonrecurring in nature and can
fluctuate from year to year. As an example, much of the grant funding received in FY 2020 was
directly attributable to financial assistance received from the federal government for combatting
the economic impacts of the COVID-19 pandemic. The decrease in Operating Grants and Capital
Grants and Contributions in FY 2021 reflected the completion of much of the work related to the
Investment income experienced a notable decr
reaction to the global pandemic during FY 2020 and FY 2021. Fortunately, since the Clerk
in FY 2019, the unrealized loss in investment income was
minimized.
Miscellaneous revenue decreased in FY 2021 due to it being higher than normal during the
previous fiscal year. In FY2020, the County reported $7.4 million in miscellaneous revenue. This
gun range to the County during the fiscal year.
Expenses
Pension related expenses, resulting in the change of deferred inflow of resources, deferred outflow
of resources, and the net pension liabilities, decreased by $33.2 million in FY 2021. This reduction
pension assets increasing significantly during FY
2021 which, in turn, reduced the related pension liability and associated pension expense.
Depreciation expense reported in governmental activities increased by $3.5 million in FY 2021.
C-8
Advertising, promotion, and operating expenses associated with tourism development decreased
by $2.9 million in FY 2021. These decreases in expenditures are the result of the lack of tourist-
related promotional opportunities including the cancellation of conferences and promotional
shows. Throughout FY 2021, there were continued nationwide restrictions placed on public
gatherings to reduce the spread of the global pandemic.
Public safety operational expenses (not capitalized) decreased by $92.6 million or 63.1%. Of this
reduction, $72.7 million represents a decrease in the reduction in the annual pension expense
during FY 2021. Because the Florida Retirement Syst
during the fiscal year, it impacted the related liability and associated pension expense. Excluding
pension expenses, FY 2021 public safety expenditures decreased $6.6 million from FY 2020. This
decrease is related to the reduced need to purchase sanitary and other supplies to combat the
pandemic during FY 2021.
Physical environment expenses (not capitalized) increased by $2.0 million. The increase is due to
tion of the Cudjoe Regional Wastewater Project.
The graph below represents a comparison of program revenues to program expenses for governmental
activities for fiscal year 2021. It is apparent from these graphs that general revenues were required to
cover expenses for most of the functions noted.
The largest revenue sources for governmental activities in FY 2021 are property taxes in the amount of
$96.0 million and all other taxes totaling $115.3 million. Total taxes of $211.3 million amounted to
excluding transfers. The second largest revenue
source, excluding grant funding, is charges for services at $52.4 million or 53.7% of governmental
activity revenues excluding transfers.
C-9
The 2021 graph identifies the largest expense function as public safety, amounting to $54.2 million. This
is 34% of the total expenses for governmental activities. The next largest functions are general
government and economic environment that total $51.1 million or 34.8% of total expenses for
governmental activities. The general government expenses include the Tax Collector, Property
Appraiser, Clerk of the Circuit Court, and the Supervisor of Elections.
The following graph represents a comparison of program revenues to program expenses for
governmental activities for FY 2020.
MonroeCounty,Florida
GovernmentalActivities(inMillions)
FortheyearendedSeptember30,2020
160.0
146.8
140.0
120.0
100.0
80.0
60.0
48.3
46.6
39.8
40.0
17.9
12.9
12.0
11.4
11.3
20.0
8.4
7.2
6.0
4.5
2.5
0.90.9
0.0
GeneralPublicSafetyPhysicalTransportationEconomicHumanCulture&CourtRelated
GovernmentEnvironmentEnvironmentServicesRecreation
ProgramRevenuesProgramExpenses
The largest revenue sources for governmental activities in FY 2020 are property taxes in the amount of
$89.4 million and all other taxes totaling $72.9 million. Total taxes of $162.3 million amounted to
59.6% of the County's governmental activity revenues excluding transfers. The second largest revenue
source is charges for services at $52.4 million or 16.9% of governmental activity revenues excluding
transfers.
The FY 2020 graph identifies the largest expense function as public safety, amounting to $146.7 million.
This is 51.2% of the total expenses for governmental activities. The next largest function is general
government and economic environment that total $58.1 million or 20.2% of total expenses for
governmental activities. The general government expenses include the Tax Collector, Property
Appraiser, Clerk of the Circuit Court, and the Supervisor of Elections. In FY 2020, public safety
expenses were larger than normal due to the COVID-19 pandemic.
C-10
Business-Type Activities
The purpose of proprietary funds is to recover the majority of costs incurred in providing a service
through user fees and charges for that service.
Charges for services revenues in FY 2021 amounted to $36.4 million or 53.7% of all business-type
activities revenue sources. Other revenue source increases include $24.1 million and $6.6 million in
operating grants and capital grants respectively.
Total expenses (excluding transfers from other funds) were less than total revenues (excluding transfers
to other funds) by $28.1 million.
Governmental Funds
Governmental funds provide information on near-term inflows, outflows, and balances of spendable
quirements, unassigned fund balance represents the
spending at the end of the fiscal year. The governmental fund types
include the General Fund, special revenue, debt service and capital project funds.
ported combined fund balances of $236.8 million at the end of the
current fiscal year. This represents a $12.9 million, or 5.8%, increase from prior year. Governmental
funds held non-spendable, restricted, committed or assigned amounts totaling $218.5 million reflect the
various constraints placed on those resources for future use.
The General Fund is the chief operating fund of the County. At September 30, 2021, the total fund
balance in the General Fund was $43.0 million, an increase of $7.2 million, or 20.2% more than the
prior year. The unassigned portilance was $22.9 million. Tax revenue
increased by $4.2 million in the General Fund. Intergovernmental revenues increased by $4 million, or a
30.9% increase. Expenditures increased by $2.6 million or 2.6%.
Other Major Fund Information (in thousands)
Fine and ForfeitureHIDTA GrantsGovernmental Grants
202120202021202020212020
Revenues and Other
Sources$ 62,689$ 62,274$ 22,504$ 20,606$ 21,914$ 3 3,011
Expenses and Other Uses
65,617 66,804 2 2,504 2 0,606 2 9,810 2 6,428
Increase/(Decrease) in
Fund balance$ (2,928)$ (4,530)$ - $ - $ (7,896)$ 6,583
C-11
Other Major Fund Information (in thousands)
One CentInfrastructure Revenue Bonds
Infrastructure SurtaxSeries 2014
2021202020212020
Revenues and Other
Sources$ 29,017$ 2 5,436$ 9 ,916$ 1 3,301
Expenses and Other Uses
27,810 2 9,777 2 0,937 1 8,262
Increase/(Decrease) in
Fund balance$ 1,207$ (4,341)$ (11,021)$ (4,961)
Cudjoe Regional Wastewater
ActivitiesDebt Service
2021202020212020
Revenues and Other
Sources$ 3,035$ 2 ,740$ 2 2,190$ 2 0,372
Expenses and Other Uses
3,302 1 3,117 2 1,842 1 8,450
Increase/(Decrease) in
Fund balance$ (267)$ (10,377)$ 3 48$ 1 ,922
Fine and Forfeiture Special Revenue Fund. Total revenue and other sources for this fund increased by
$0.4 million as a result of a increase in services provided. Total operating expenses and transfers to other
funds decreased by $1.2 million, which reflects the need in FY 2020 to purchase supplies and services
combating COVID-19 pandemic.
HIDTA Grants Special Revenue Fund. This fund is used to account for reimbursement grants funded by
the U.S. Department of Justice to fight drug trafficking. The volume of revenues and expenditures has
not significantly changed as programs established by the grantor have been continued.
Governmental Grants Special Revenue Fund. The FY 2021 revenue decreased by $11.1 million due to
the completion of Hurricane Irma grants from the Natural Resources Conservation Service and the
Federal Emergency Management Agency.
One Cent Infrastructure Surtax Capital Project Fund. The County voted during the 2012 general election
to extend the surtax expiration date from 2018 to 2033. This is similar to the State shared revenues based
on sales tax. Over the past decade this revenue has grown each year. While this revenue source
decreased in FY 2020 due to the downturn in tourism because of the pandemic, it rebounded with an
14% increase in FY 2021. The revenue source will be used to fund on-going capital projects.
Infrastructure Revenue Bonds Series 2014. In October 2014, the County issued revenue bonds to
construct and acquire equipment and capital improvements. In FY 2021, the County neared completion
C-12
of two major projects using this funding: the Marathon Library and the Plantation Key Courthouse and
Detention Center.
Cudjoe Regional Wastewater Capital Project Fund. This fund is used to account for the activity
associated with the Countuct collection, transmission and treatment facilities.
At the end of FY 2021, the County fully completed this project.
Debt Service. The debt service fund received transfers from other funds to cover $21.8 million in
principal and interest payments on long-term debt.
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.
Municipal Service District-Waste Enterprise Fund. This fund maintains
County continues to outsource the waste haul-out services through a major contract. Revenues for
charges for services (special assessments and tipping fees) increased by 7.2% from FY 2020.
Card Sound Bridge Enterprise Fund. The Card Sound Br
r from a manned toll booth to an electronic tolling
operation. Since this change, the County has experienced an increase in its toll receipts including a
29.9% increase in FY 2021.
Key West Airport Enterprise Fund. In FY 2021, the Key West Airport reported a significant increase in
its charges for services of 42.81%. In FY 2020, the Airport was negatively impacted by the pandemic.
ecovering business after the negative impact of the
pandemic. The Key West Airport received $6.6 million in capital grants during the year for such projects
bilitations, and a noise mitigation project.
Marathon Airport Enterprise Fund. The airport reported 20.41% increase in revenue from charges for
services in FY 2021.
The internal service funds include the Worke
Management Fund and the Fleet Management Fund. The self-insurance funds are an important part of
In FY 2018, the County projected a $3.3 million shortfall in the Group Insurance Fund by the end of the
fiscal year. In response, the County began efforts in FY 2018 to address the stability of the Group
Insurance Fund by implementing cost-s
program changes included increasing contributions for employees, retirees, and dependent coverage and
reducing available health benefits to any covered person under the Plan. As a result, instead of a $3.3
million shortfall, the Group Insurance Fund shows a $13.0 million fund balance at the end of FY 2021.
C-13
Capital Assets
ts 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 progress. At September 30, 2021, the County has $755.4 million invested in
a variety of capital assets, as reflected in the following schedule, which represents a net increase
(additions less retirements and depreciation) of $37.1 million or 5.2% from the end of last year.
MONROE COUNTY, FLORIDA
CAPITAL ASSETS (IN THOUSANDS)
NET OF DEPRECIATION
Governmental ActivitiesBusiness-type ActivitiesTotal
2020 as restated
20212020202120212020
Land$ 84,274$ 84,242$ 6,126$ 5,648$ 90,400$ 89,890
Land Development Rights1,476 - - 1,476- -
Construction In Prog. 48,762 35,960 16,735 9,750 65,497 45,710
Buildings 110,100 99,812 57,935 46,862 168,035 146,674
Equipment 34,878 30,397 2,642 2,216 37,520 32,613
Infrastructure 334,368 340,040 50,928 53,386 385,296 393,426
Capacity Rights 2,609 2,641 - 2,609- 2,641
Total$ 616,467$ 593,092$ 134,366$ 117,862$ 750,833$ 710,954
The investment in capital assets includes land, land development rights, buildings, improvements,
machinery and equipment, plant and equipment, infrastructure, roads, bike paths, and sidewalks. Major
capital asset events during the year included:
Completion of the Cudjoe Regional Wastewater Project totaling $212.3 million.
Completion of the Marathon Library totaling $8.9 million.
Completion of the Cudjoe Fire Station totaling $4.4 million.
Completion of the Key West Airport Customs totaling $5.1 million
Completion of the Key West Airport storage/maintenance building totaling $3.2 million.
Completion of the Key West Airport baggage handling system totaling $1.2 million.
rtment area remodel totaling $1.7 million.
In addition, in FY 2021 the County used $400,000 capital funding to provide financial support to the
operations of Poinciana Gardens and $500,000 to the College of the Florida Keys building project.
Ongoing significant projects include the following: the Plantation Key Courthouse and Detention
st
Center; 1 Street and Bertha Avenue improvements, Bimini Drive bridge, Marathon Airport terminal re-
roof, and the non-aeronautical building/emergency operations center,
s capital assets can be found in Note 7 on pages F-21 to F-22.
C-14
Long-Term Debt
At September 30, 2021, the County had long-term debt in the amount of $306.3 million. This debt is
mainly comprised of direct borrowing of revenue bonds and notes secured by pledges of revenues.
Revenue-secured debt for governmental activities was $174.0 million. The County has no general
obligation bonds.
Net changes to long-term debt consisted of the following:
Extinguishment of Series 2019 Revenue Note which provided cash flow needed for the
Hurricane Irma recovery and debris clean-up - $8.4 million
Issuance of Taxable Revenue Note, Series 2021 for providing a $10 million revolving line of
credit to finance the planning and design of thourse expansion project
- $0.7 million
Increases to accrued compensated absences - $.15 million
Increases in the other post-employment benefits liability - $2.5 million
tionate share of FRS and HIS pension liability - $126.2 million
pension liability - $.1 million
Retirements of long-term debt and other reductions amounted to $170.3 million. The increase in long-
term debt reductions in FY 2021 was primarily due to the Florida Re
materially increasing during the fiscal year. The significant increase in pension assets correspondingly
impacted the related liability and associated pension expense resulting in a $126.2 million decrease in
s Surtax Revenue Bonds, Series 2007,
details about long-term debt are available in Note 14 to the financial statements pages F-42 through F-
46.
Budgetary Highlights
There were slight variations from the original budget to the amended budget for miscellaneous revenues
and intergovernmental revenue. The more significant variations from the amended budget to the actual
budget were the following:
Plantation Key Courthouse and Detention Center capital project was provided additional funding
of $1.6 million.
Bimini Drive Bridge capital project was provided additional funding totaling $.4 million.
Enterprise Resources Planning project.
Long Key Wastewater project was provided additional funding of $.4 million to fund the Florida
Keys Aqueduct Authority to complete the project.
s are developed during the budget process each
year. The Board discusses trends, capital projects and policy priorities at public meetings held during the
C-15
budget planning phase. These priorities are further refined, clarified and adopted during the budget
process. The FY 2021 budget was developed to meet increased service demands and workload
throughout the County. The FY 2021 budget also included an ambitious capital project agenda to
Because of the on-going global pandemic during budget planning for FY 2021, the County budgeted a
15.5% reduction in sales and use taxes due to an expected downturn in tourism. In addition, the County
projected charges for services would also be reduced due to the pandemic. In anticipation of these
reduced revenues along with a highly uncertain economic environment, the approved budget was
developed with focus on keeping expenditures low and fund balances strong. A combination of factors
allowed the County to exceed its FY 2021 revenue projects. These factors included stronger than
expected tourism during the pandemic; federal financial assistance from the Coronavirus Aid, Relief,
Fund is ad valorem taxes. The aggregate millage
rate for 2021 is 3.3435 which is rate of 3.3536 and 3.75% above the
rolled-backed millage rate of 3.2515. After property taxes, the Local Government Half-Cent Sales Tax is
the largest revenue source in the General Fund; this revenue source was budgeted conservatively at FY
2020 levels.
Budgeted expenditures were 2.6% below FY 2020 levels in anticipation of reduced revenues.
Expenditures for capital projects were lower than originally budgeted because projects were disrupted
due to the COVID-19 pandemic. Significant capital projects include the following:
Plantation Key Courthouse and Detention Complex (the single largest infrastructure project in
Emergency Operation Center (funded entirely with State Florida Department of Transportation
and legislative appropriation funds, and federal Hazard Mitigation Grant Program funds)
New Public Defender Office Building Renovations
Roadway/Drainage projects (First and Bertha, Burton Drive, and Big Pine Koehn Subdivision)
Bridge projects (Sugarloaf Boulevard Bridge, Bimini Drive Bridge, and Seaview Bridge)
Overseas Heritage Trail: small segment connecting trail to Cudjoe Gardens subdivision.
Requests for Information
This financial report is designed to provide a general overview of th 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, Monroe County Clerk
of the Courts and Comptroller, 500 Whitehead Street, Key West, Florida 33040.
C-16
BASICFINANCIALSTATEMENTS
MONROE COUNTY, FLORIDA
STATEMENT OF NET POSITION
SEPTEMBER 30, 2021
Primary GovernmentComponent Unit
Monroe County
GovernmentalBusiness-typeComprehensive
ActivitiesActivitiesTotalPlan Land Authority
ASSETS
Current Assets:
Cash and Cash Equivalents$ 5,360,65272,724,297$ 78,084,949$ 21,069,138$
Investments 27,801,172210,100,799 237,901,971 -
Accounts Receivable, Net
1,063,26510,154,985 11,218,250 -
Assessments Receivable -25,312,040 25,312,040 -
Internal Balances 94,932(94,932) - -
Due from Other Governmental Units 7,793,71224,729,587 32,523,299 1,189,936
Interest Receivable 393,028 52,541 445,569 -
Inventory 22,521 - 22,521 -
Prepaid Items 216,678 216,678- 179,500
Total Current Assets 343,559,003 42,166,274 385,725,277 22,438,574
Noncurrent Assets:
Restricted Cash and Cash Equivalents 4,742,857- 4,742,857 -
Restricted Accounts Receivable 407,221- 407,221 -
Mortgage/ Notes Receivable 10,281,900 10,281,900- 8,769,025
Allowance for Mortgage/ Notes Receivable
-(10,281,900) (10,281,900) -
Land and Other Nondepreciable Assets 22,861,250134,511,260 157,372,510 34,675,944
Other Capital Assets, Net of Accum Deprec 111,505,184481,955,351 593,460,535 15,708,534
Total Noncurrent Assets 139,516,512616,466,611 755,983,123 59,153,503
Total Assets 181,682,786960,025,614 1,141,708,400 81,592,077
DEFERRED OUTFLOWS OF RESOURCES
Related to Pensions
1,340,72439,495,864 40,836,588 137,381
Related to OPEB 257,10012,805,600 13,062,700 13,157
Total Deferred Outflows of Resources 1,597,82452,301,464 53,899,288 150,538
LIABILITIES
Current Liabilities:
Accounts Payable 3,269,69316,493,452 19,763,145 9,149
Retainage Payable 1,216,5322,449,531 3,666,063 -
Accrued Wages and Benefits Payable 260,1413,630,037 3,890,178 35,795
Claims and Judgments Payable -3,447,859 3,447,859 -
Due to Other Governmental Units 82,7843,384,323 3,467,107 -
Accrued Compensated Absences Payable
116,8403,023,530 3,140,370 42,146
Other Current Liabilities 129,632- 129,632 -
Deposits in Escrow 288,984 75,671 364,655 -
Unearned Revenue 26,343 44,157 70,500 -
Accrued Interest Payable 1,289,091 1,289,091- -
Revenue Notes Payable 7,396,326 748,000 8,144,326 -
Revenue Bonds Payable 4,890,000 4,890,000- -
Mayfield Interlocal Agreement 2,125,000 2,125,000- -
Total Current Liabilities 48,444,476 5,943,450 54,387,926 87,090
(Continued)
The notes to the financial statements are an integral part of this statement.
D-1
MONROE COUNTY, FLORIDA
STATEMENT OF NET POSITION - CONTINUED
SEPTEMBER 30, 2021
Primary GovernmentComponent Unit
Monroe County
GovernmentalBusiness-TypeComprehensive
ActivitiesActivitiesTotalPlan Land Authority
Noncurrent Liabilities:
Accrued Compensated Absences Payable 467,35912,290,230 12,757,589 134,589
Revenue Notes Payable -132,148,922 132,148,922 -
Revenue Bonds Payable -20,640,000 20,640,000 -
t
Mayfield Interlocal Agreemen
-6,750,000 6,750,000 -
Other Liabilities
400,000 400,000- -
OPEB Liability 59,010,000 1,024,000 60,034,000 54,000
Net Pension Liability 52,680,798 2,969,559 55,650,357 176,411
Total Noncurrent Liabilities 283,919,950 4,460,918 288,380,868 365,000
Total Liabilities 332,364,426 10,404,368 342,768,794 452,090
DEFERRED INFLOWS OF RESOURCES
Related to Pensions
3,114,7565,215,760 8,330,516 237,196
Related to OPEB 52,6005,293,200 5,345,800 41,592
Advances from Other Governments -7,208,960 7,208,960 -
Total Deferred Inflows of Resources 3,167,35617,717,920 20,885,276 278,788
NET POSITION
Net Investment in Capital Assets
134,366,434441,882,862 576,249,296 50,384,478
Restricted:
Public Safety -59,931,793 59,931,793 -
Physical Environment -40,175,875 40,175,875 -
Transportation 5,150,0789,817,160 14,967,238 -
Economic Environment -69,933,396 69,933,396 -
Land Authority -- - 13,891,925
Court Programs -10,578,849 10,578,849 -
Human Services -2,165,616 2,165,616 -
Cultural and Recreation -3,058,937 3,058,937 -
General -664,219 664,219 -
Capital Projects -33,375,027 33,375,027 -
Debt Service -1,893,304 1,893,304 -
Unrestricted 30,192,374(11,232,306) 18,960,068 16,735,334
Total Net Position
$ 169,708,886662,244,732$ 831,953,618$ 81,011,737$
D-2
MONROE COUNTY, FLORIDA
STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Program Revenues
OperatingCapital
Charges forGrants andGrants and
Functions/ProgramsExpensesServicesContributionsContributions
Primary government:
Governmental activities:
General Government$ 16,601,238$ 16,861,224$ 74,927$ -
Public Safety54,232,193 1,529,88922,947,082 24,091,36 8
Physical Environment13,389,100 6,547,369 2,074,730 -
Transportation1,231,070 4,170 2,221,779 -
Economic Environment34,853,094-7,513,422-
Human Services10,165,464 208,385 346,743 -
Culture and Recreation4,771,308 921,588 415,692 -
Court Related8,161,413 4,891,716 1,499,127 -
Interest on Long-Term Debt3,580,054 - - -
Total governmental activities 146,984,934 52,381,534 15,676,309 24,091,368
Business-type activities:
Municipal Service District Waste20,236,811 21,658,991 128,900 -
Card Sound Bridge 2,110,10453,350 5 - -
Key West Airport 16,468,583 11,290,898 18,311,960 6,632,248
Marathon Airport 1,296,7241,665,301 5,967,890 -
Total business-type activities38,824,04 5 36,356,718 24,408,750 6,632,248
t$ 185,808,979$ 88,738,252$ 40,085,059$ 30,723,616
Total primary governmen
General Revenues:
Taxes:
Ad Valorem Taxes
Tourist Impact Tax
Gas Tax
1/2 Cent Sales Tax
One Cent Infrastructure Tax
Tourist Development Tax
Other Taxes
Other St. Shared Rev, Unrestricted
Investment Income
Settlements, Insurance Recoveries,
Donations, and Other Income
Transfers
Total General Revenues and Transfers
Change in Net Position
Total Net Position - October 1
Restatement - Prior Period Adjustment
Total Net Position - October 1 (as Restated)
Total Net Position - Ending
The notes to the financial statements are an integral part of these statements.
(Continued)
D-3
Net (Expense) Revenue and Changes in Net Position
Primary GovernmentComponent Unit
Monroe County
eComprehensive
Governmental Business-typ
ActivitiesActivitiesTotalPlan Land Authority
$ 334,913$ -$ 334,913$ (1,083,907)
(5,663,854) - (5,663,854) -
(4,767,001) - (4,767,001) -
994,879 - 994,879 -
(27,339,672) (27,339,672-)-
(9,610,336) - (9,610,336) -
(3,434,028) - (3,434,028) -
(1,770,570) - (1,770,570) -
(3,580,054) - (3,580,054) -
(54,835,723) (54,835,723-) (1,083,907)
- 1,551,080 1,551,080 -
-1,656,7551,656,755 -
-19,766,52319,766,523 -
- 5,599,3135,599,313 -
- 28,573,671 28,573,671 -
(54,835,723) 28,573,671(26,262,052) (1,083,907)
96,010,623 -96,010,623 7,780,532
7,065,769 - 7,065,769 -
6,713,716 - 6,713,716 -
15,081,839 -15,081,839 -
28,613,899 -28,613,899 -
56,526,152 - 56,526,152 -
1,252,142 - 1,252,142 -
4,019,753 - 4,019,753 -
1,356,664 84,637 1,441,301 25,629
2,694,123 272,7822,966,905 691,925
1,224,956 (1,224,956) - -
220,559,636 (867,537)219,692,099 8,498,086
3 27,706,134193,430,047 7,414,179
165,723,91
9149,384,095645,904,91473,597,558
496,520,81
(7,381,343)- (7,381,343) -
496,520,819142,002,752 638,523,57173,597,558
$ 169,708,886662,244,732$ 831,953,618$ 81,011,737$
D-4
MONROE COUNTY, FLORIDA
BALANCE SHEET
GOVERNMENTAL FUNDS
SEPTEMBER 30, 2021
Fine &HIDTAGovernmental
GeneralForfeitureGrantsGrants
ASSETS
Cash and Cash Equivalents20,958,386$ 2,097,516$ 1,105,061$ 1,540,919$
Investments30,271,221 11,196,855 - 3,830,102
Accounts Receivable, Net77,310 9,813,447 25,647 35,169
Assessments Receivable- - - -
Due from Other Fund
s 1,832,4921,795,062 - 186,939
Due from Other Governmental Units 52,6551,228,232 2,154,719 16,334,098
Mortgages/Notes Receivable- - - 277,620
Allowance for Mortgages/Notes Receivable- - - (277,620)
Interest Receivable53,091 19,524 - 8,224
Inventory22,521 - - -
Prepaid Items216,678 - - -
Total Assets54,622,501$ 25,012,489$ 3,285,427$ 21,935,451$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities:
Accounts Payable5,371,647$ 187,219$ 839,809$ 1,830,914$
Retainage Payable1,473 - - 269,351
Accrued Wages and Benefits Payable1,925,035 146,264 81,656 350,211
Due to Other Funds2,715,653 1,910 1,161,111 2,529,335
Due to Other Governmental Units1,473,725 23,123 1,180,231 -
Unearned Revenues- - 22,620 -
Deposits in Escrow52,650 - - -
Total Liabilities11,540,183 358,516 3,285,427 4,979,811
Deferred Inflows of Resources:
Advances from Other Governments- - - 7,208,960
Unavailable Revenues74,927 8,082,451 - 14,369,162
Total Deferred Inflows of Resources74,927 8,082,451 - 21,578,122
Fund Balances:
Nonspendable22,521 - - -
Restricted- 16,571,522 - -
Committed10,000,000 - - -
Assigned10,058,026 - - -
Unassigned22,926,844 - - (4,622,482)
Total Fund Balances43,007,391 16,571,522 - (4,622,482)
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances54,622,501$ 25,012,489$ 3,285,427$ 21,935,451$
The notes to the financial statements are an integral part of these statements.
E-1
One CentInfrastructureCudjoe RegionalDebtNonmajorTotal
InfrastructureRevenue BondsWastewaterServiceGovernmentalGovernmental
SurtaxSeries 2014ProjectFundFundsFunds
$ 1,216,6283,470,674$ 673,996$ 911,135$ 37,400,205$ 69,374,520$
5,596,13923,019,488 3,079,804 2,543,224 106,810,679 186,347,512
-- - - 144,578 10,096,151
-- 21,807,812 - 3,504,228 25,312,040
-389,664 3,155 - 4,834,880 9,042,192
-2,683,773 71,035 - 2,091,984 24,616,496
-- - - 10,004,280 10,281,900
-- - - (10,004,280) (10,281,900)
10,14040,561 5,747 4,594 209,675 351,556
-- - - - 22,521
-- - - - 216,678
$ 6,822,90729,604,160$ 25,641,549$ 3,458,953$ 154,996,229$ 325,379,666$
$ 792,7131,591,153$ -$ -$ 4,914,626$ 15,528,081$
1,222,94086,705 - - 235,561 1,816,030
-90,808 5,041 - 883,286 3,482,301
2,368525,506 - 276,558 2,370,883 9,583,324
-- - - 707,244 3,384,323
-- - - - 22,620
-- - - 236,334 288,984
2,018,0212,294,172 5,041 276,558 9,347,934 34,105,663
-- - - - 7,208,960
-- 20,933,103 - 3,790,435 47,250,078
-- 20,933,103 - 3,790,435 54,459,038
-- - - - 22,521
4,804,88627,309,988 4,703,405 3,182,395 129,088,505 185,660,701
-- - - 6,627,339 16,627,339
-- - - 6,169,529 16,227,555
-- - - (27,513) 18,276,849
4,804,88627,309,988 4,703,405 3,182,395 141,857,860 236,814,965
$ 6,822,90729,604,160$ 25,641,549$ 3,458,953$ 154,996,229$ 325,379,666$
E-2
MONROE COUNTY, FLORIDA
RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO THE
STATEMENT OF NET POSITION
SEPTEMBER 30, 2021
Amounts reported for governmental activities in the statement of net position are different because:
Ending fund balance - governmental funds236,814,965$
Capital assets used in governmental activities are not financial resources
and, therefore, are not reported in the governmental funds, net of
accumulated depreciation of $178,396,656.
615,764,519
Deferred outflows and inflows of resources are not available in the current
period and, therefore, are not reported in the governmental funds. Deferred
outflows and inflows of resources at year-end consist of:
Deferred outflows related to pension liabilities38,825,428$
Deferred outflows related to OPEB12,680,500
Deferred inflows related to pension liabilities(3,727,165)
Deferred inflows related to OPEB liabilities(5,267,600)
Total 42,511,163
Unavailable revenue related to wastewater assessment activity and revenue
received in advance from both the state and federal governments for grants
47,250,078
are deferred in the governmental funds but not in the government-wide
financial statements.
Other liability related to a certain legal claim is not reported in governmental
funds as current financial resources are not used (see note 19). (400,000)
Long-term liabilities are not due and payable in the current period and,
therefore, are not reported in the funds.
(25,530,000)
Revenue Bonds Payable
(139,545,248)
Revenue Notes Payable
(8,875,000)
Mayfield Interlocal Loan Agreement
(58,628,000)
OPEB Liability
(52,330,433)
Net Pension Liability
(1,289,091)
Accrued Interest Payable
(15,068,052)
Accrued Compensated Absences
Total (301,265,824)
The assets and liabilities of the internal service funds (funds are used to
charge the costs of insurance and fleet maintenance activities to individual
funds) are not reported in the governmental funds. 21,569,831
Net position of governmental activities$ 662,244,732
The notes to the financial statements are an integral part of this statement.
E-3
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Fine &HIDTAGovernmental
GeneralForfeitureGrantsGrants
REVENUES:
Taxes29,924,191$ 51,428,823$ -$ -$
Licenses and Permits- - - -
Intergovernmental 17,107,022 71,639 22,503,740 20,859,591
Charges for Services 5,540,455 9,372,439 - 161,782
Fines and Forfeitures 4,039 100,210 - -
Investment Income 201,611 98,391 - 5,223
Miscellaneous 1,174,757 124,248 - 28,120
Total Revenues 53,952,075 61,195,750 22,503,740 21,054,716
EXPENDITURES:
Current:
General Government 35,358,297 1,229,049 - -
Public Safety 52,086,005 12,538,426 22,503,740 3,753,773
Physical Environment -506,541 - 3,609,212
Transportation49,809 - - 1,870,426
Economic Environment -734,691 - 6,647,888
Human Services8,110,800 - - 1,229,667
Culture and Recreation3,753,857 - - 1,878,161
Court Related4,481,273 573,776 - -
Capital Projects- - - -
Debt Service
Principal- - - -
Interest- - - -
Total Expenditures105,081,273 14,341,251 22,503,740 18,989,127
Excess/Deficiency of Revenues
Over (Under) Expenditures(51,129,198) 46,854,499 - 2,065,589
OTHER FINANCING SOURCES (USES):
Transfers from Other Funds60,370,870 1,493,394 - 858,839
Transfers to Other Funds(2,022,715) (51,275,994) - (10,820,765)
Total Other Financing Sources (Uses)58,348,155 (49,782,600) - (9,961,926)
Net Change in Fund Balances (2,928,101)7,218,957 - (7,896,337)
Fund Balances-October 1 19,499,62335,788,434 - 3,273,855
Fund Balances-September 30$ 16,571,52243,007,391$ -$ (4,622,482)$
The notes to the financial statements are an integral part of these statements.
E-4
One CentInfrastructureCudjoe RegionalDebtNonmajorTotal
InfrastructureRevenue BondsWastewaterServiceGovernmentalGovernmental
SurtaxSeries 2014ProjectFundFundsFunds
$ 28,613,898$ -$ -$ 82,279,100-$ $ 192,246,012
- 2,379,005- 6,785,602- 9,164,607
- - - 11,134,725- 71,676,717
- - - 16,357,759- 31,432,435
- - - 5,872,449- 5,976,698
44,830 21,330 525,228 25,817 434,254 1,356,684
25,059 127,860- 1,076,567- 2,556,611
28,683,787 21,330 3,032,093 25,817 123,940,456 314,409,764
- - - 3,171,003- 39,758,349
- - - 35,937,282- 126,819,226
- - - 1,441,793- 5,557,546
- - - 9,275,906- 11,196,141
- - - 29,779,520- 37,162,099
- - - 2,316,413- 11,656,880
- - - 3,769,560- 9,401,578
- - - 5,258,078- 10,313,127
7,008,950 20,937,452 1,175,992 - 118,609 29,241,003
- - 19,207,119- 19,207,119-
- - 2,635,270- 2,635,270-
7,008,950 20,937,452 1,175,992 21,842,389 91,068,164 302,948,338
21,674,837 (20,916,122) 1,856,101 (21,816,572) 32,872,292 11,461,426
333,664 9,895,000 3,154 22,164,560 10,554,084 105,673,565
(20,801,066) (2,125,740)- (17,193,038)- (104,239,318)
(20,467,402) 9,895,000 (2,122,586) 22,164,560 (6,638,954) 1,434,247
1,207,435 (11,021,122) (266,485) 347,988 26,233,338 12,895,673
26,102,553 15,826,008 4,969,890 2,834,407 115,624,522 223,919,292
$ 27,309,988$ 4,804,886$ 4,703,405$ 3,182,395$ 141,857,860$ 236,814,965
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, 2021
Amounts reported for governmental activities in the statement of activities are different because:
Net change in fund balances - total governmental funds $ 12,895,673
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 $55,148,271
exceed depreciation of $20,867,818 in the current period. The net effect of various
17,987,930
miscellaneous transactions involving capital assets (i.e., sales and donations) is to
decrease net position. The largest component included in this number are amounts
capitalized in CIP in the prior year which, when completed, were below the County's
capitalizationthreshold
Payment of long-term debt is reported as an expenditure in the Governmental funds as
current financial resources are used, but a reduction of long-term liabilities in the statement
19,207,119
of net position.
Some expenses reported in the statement of activities and the deferred outflows and
inflows of resources related to pensions and OPEB do not require the use of current
financial resources and, therefore, are not reported as expenditures in the governmental
funds:
$ (944,784)
Change in accrued interest
(302,066)
Change in compensated absences
(3,864,100)
Change in OPEB liability and related deferred outflows and inflows
104,836,635
Change in net pension liability and related deferred outflows and inflows
99,825,685
Revenues that do not provide current financial resources are not reported on governmental
7,509,830
funds. However, revenues that are earned in the current period are reported in the
statement of activities.
The net revenues of internal service funds (funds used to charge the costs of certain
8,297,676
activities to individual funds) are reported with governmental activities.
Change in net position of governmental activities165,723,913$
The notes to the financial statements are an integral part of this statement.
E-6
A
MONROE COUNTY, FLORID
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
GENERAL FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes27,976,547$ 27,976,547$ 29,924,191$ 1,947,644$
Intergovernmental12,701,046 12,704,159 17,107,022 4,402,863
Charges for Services4,416,934 4,416,934 5,540,455 1,123,521
Fines and Forfeitures5,000 5,000 4,039 (961)
Investment Income358,400 358,400 201,611 (156,789)
Miscellaneous629,400 636,711 1,174,757 538,046
Total Revenues46,087,327 46,097,751 53,952,075 7,854,324
EXPENDITURES:
Current:
General Government:
Board of County Commissioners Admin1,945,482 2,181,964 2,154,700 27,264
Clerk to BOCC - Financial Package5,000 5,000 - 5,000
Government Enterprise Management System75,000 75,000 28,952 46,048
Clerk Commission and Fees - Noncourt7,034,600 7,834,600 7,669,828 164,772
Insurances - Supervisor of Elections175,373 175,373 148,876 26,497
Promotional Advertising5,000 5,000 - 5,000
Value Adjustment Board35,000 35,000 27,603 7,397
Employee Suggestion Plan10,000 10,000 - 10,000
FIRM Study50,000 50,000 50,000 -
County Administrator1,322,304 1,486,590 1,233,376 253,214
Technical Services2,958,202 2,812,202 2,429,364 382,838
Grants Administration119,115 183,363 170,502 12,861
Office of Management and Budget 617,783 667,783 653,545 14,238
Purchasing 240,849 255,849 244,481 11,368
Personnel 495,668 576,668 562,092 14,576
Public Works Management 10,318 10,318 10,164 154
Public Works Facilities Maintenance 8,486,049 8,438,162 8,189,686 248,476
ADA Compliance 50,000 50,000 50,000-
County Attorney 1,356,804 1,356,554 1,225,237 131,317
Tax Collector 6,810,140 7,023,294 4,718,694 2,304,600
Property Appraiser 4,933,928 4,933,928 4,001,809 932,119
Supervisor of Elections 1,918,638 1,918,888 1,687,396 231,492
Quasi External Services 230,000 230,000 151,992 78,008
Hurricane 100,000 100,000 100,000-
Total General Government 38,985,253 40,415,536 35,358,297 5,057,239
(Continued)
The notes to the financial statements are an integral part of these statements.
E-7
A
MONROE COUNTY, FLORID
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
GENERAL FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
Public Safety:
Emergency Management518,761 538,846 434,309 104,537
Marathon Emergency Operations Center84,325 76,325 41,722 34,603
Medical Examiner695,798 695,798 552,420 143,378
Sheriff Law Enforcement and Corrections52,209,772 52,315,227 50,496,790 1,818,437
Fire Academy602,185 602,185 527,260 74,925
Fire and EMS Length of Service Award Program48,000 48,000 33,504 14,496
Total Public Safety54,158,841 54,276,381 52,086,005 2,190,376
Physical Environment:
Extension Service228,108 236,108 201,350 34,758
Sustainability710,534 630,534 305,191 325,343
Total Physical Environment938,642 866,642 506,541 360,101
Transportation:
County Engineer98,781 43,781 49,809 (6,028)
Total Transportation98,781 43,781 49,809 (6,028)
Economic Environment:
Literacy Volunteers of America50,000 50,000 50,000 -
Veterans' Affairs588,828 588,828 576,189 12,639
Veterans' Affairs Transportation157,932 157,932 108,502 49,430
Total Economic Environment796,760 796,760 734,691 62,069
Human Services:
Middle Keys Guidance Clinic41,225 41,225 41,225 -
Older Americans Volunteer Program500 500 - 500
Domestic Abuse Shelter80,000 80,000 80,000-
Florida Keys Outreach Coalition 109,000 109,000 109,000 -
Samuel's House 105,000 105,000 105,000 -
Womankind 160,000 160,000 160,000 -
Grace Jones 60,000 60,000 60,000 -
AIDS Help 87,500 87,500 87,500 -
Good Health Clinic 105,000 105,000 105,000 -
Monroe County Assn for ReMARCable Citizens 200,000 200,000 200,000 -
Florida Keys Children's Shelter 185,000 185,000 185,000 -
Wesley House 157,500 157,500 157,500 -
Florida Keys Area Health Education 120,000 120,000 120,000 -
(Continued)
The notes to the financial statements are an integral part of these statements.
E-8
A
MONROE COUNTY, FLORID
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
GENERAL FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
Human Services (continued):
Heron/Peacock43,000 43,000 43,000 -
Kids Come First - Flordia Keys30,000 30,000 30,000 -
Boys and Girls Club115,000 115,000 82,955 32,045
Florida Keys Healthy Start Coalition75,000 75,000 75,000 -
Keys Area Interdenominational Resources35,000 35,000 35,000 -
Star of the Sea Foundation95,000 95,000 95,000 -
Independence Cay28,000 28,000 28,000 -
Anchors Aweigh15,000 15,000 15,000 -
Southernmost Homeless Assistance League10,000 10,000 - 10,000
Baker Act for Lower Keys Medical Center 83,334 83,334 83,333 1
Guidance Care Clinic Baker Act Transportation165,000 165,000 156,170 8,830
Guidance Care Clinic/Samuel House-FS 394.76877,500 877,500 877,500 -
Guidance Care Clinic Jail In-House Program151,273 151,273 57,709 93,564
Historic Florida Keys Foundation32,450 32,450 32,450 -
Animal Shelters1,466,513 1,572,513 1,571,582 931
Welfare Administration547,594 622,594 669,461 (46,867)
Welfare Services893,500 825,500 842,956 (17,456)
Health Care Respite Act40,000 3,000 2,105 895
Bayshore Manor916,280 883,280 852,400 30,880
Social Service Transportation932,368 995,368 1,010,954 (15,586)
Burton Memorial United Methodist Church 15,000 15,000 15,000 -
Keys To Be Change 50,000 50,000 50,000 -
Autism Society of the Keys 40,000 40,000 40,000 -
Voices for the Florida Keys Children 17,000 17,000 17,000 -
Kreative Kids 11,000 11,000 11,000 -
Key West Community Sailing Center 7,000 7,000 7,000 -
Total Human Services 8,102,537 8,208,537 8,110,800 97,737
Culture and Recreation:
Fine Arts Council 79,900 79,900 79,900 -
Lower Keys AARP 4,500 4,650 4,609 41
Middle Keys AARP 4,500 6,300 4,377 1,923
Big Pine Key AARP 4,500 2,550 1,554 996
Upper Keys AARP 4,500 4,500 4,500-
Heart of the Keys Recreation 35,000 35,000 35,000 -
Higgs Beach Maintenance 98,424 98,424 98,328 96
Library Admin Support 1,009,283 1,009,283 988,186 21,097
Library Key West 889,747 879,247 816,609 62,638
Library Key West Donations 50,000 254,101 164,453 89,648
Library Marathon 495,014 495,014 472,950 22,064
Library Marathon Donations 10,000 13,286 13,286-
Library Islamorada 314,199 314,199 300,336 13,863
(Continued)
The notes to the financial statements are an integral part of these statements.
E-9
A
MONROE COUNTY, FLORID
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
GENERAL FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
Culture and Recreation (continued):
Library Islamorada Donations2,000 1,842 - 1,842
Library Key Largo410,443 420,943 412,497 8,446
Library Key Largo Donations7,000 7,899 4,393 3,506
Library Big Pine Key386,145 386,145 370,665 15,480
Library Big Pine Key Donations69,281 69,848 - 69,848
Total Culture and Recreation3,874,436 4,083,131 3,753,857 329,274
Court Related:
Law Library23,532 23,161 79,436 (56,275)
Guardian Ad Litem225,696 210,696 176,078 34,618
State Attorney407,625 407,625 29,382 378,243
Public Defender536,844 536,844 480,911 55,933
Sheriff Court Security1,848,774 1,848,774 1,848,774 -
Court Administration2,527 2,527 1,401 1,126
Court Admin - Judicial Support179,042 179,042 171,359 7,683
Court Case Management175,881 175,881 166,429 9,452
Court Admin - Circuit Ct Reporter Svcs1,675 1,675 1,555 120
Court Admin - Circuit Drug Court416,756 416,756 234,575 182,181
Court Admin - Pretrial Release539,573 539,573 511,979 27,594
Court Admin-Probationary Services416,573 416,573 384,099 32,474
Ct. Admin - Pretrial Svcs Drug Diversion225,520 225,520 196,953 28,567
217,685 198,342 19,343
Court Admin - Information Systems 217,685
Total Court Related 5,217,703 5,202,332 4,481,273 721,059
Total Expenditures 112,172,953 113,893,100 105,081,273 8,811,827
Excess/Deficiency of Revenues
Over (Under) Expenditures (66,085,626) (67,795,349) (51,129,198) 16,666,151
(Continued)
The notes to the financial statements are an integral part of these statements.
E-10
A
MONROE COUNTY, FLORID
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
GENERAL FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies(1,454,540) (106,500) - 106,500
Reserve for Cash Balance(4,322,552) (4,322,552) - 4,322,552
Transfers from Other Funds67,155,379 67,473,988 60,370,870 (7,103,118)
Transfers to Other Funds(2,452,100) (2,409,026) (2,022,715) 386,311
Total Other Financing Sources (Uses)58,926,187 60,635,910 58,348,155 (2,287,755)
Net Change in Fund Balances (7,159,439)(7,159,439) 7,218,957 14,378,396
Fund Balances - October 1 7,159,4397,159,439 35,788,434 28,628,995
Fund Balances - September 30$ --$ 43,007,391$ 43,007,391$
The notes to the financial statements are an integral part of these statements.
E-11
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FINE AND FORFEITURE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes53,254,196$ 53,254,196$ 51,428,823$ (1,825,373)$
Intergovernmental- - 71,639 71,639
Charges for Services8,543,000 8,543,000 9,372,439 829,439
Fines and Forfeitures72,500 72,500 100,210 27,710
Investment Income385,000 385,000 98,391 (286,609)
Miscellaneous1,000 101,400 124,248 22,848
Total Revenues62,255,696 62,356,096 61,195,750 (1,160,346)
EXPENDITURES:
Current:
General Government:
Tax Increment Payment1,250,000 1,250,000 1,229,049 20,951
Total General Government1,250,000 1,250,000 1,229,049 20,951
Public Safety:
Sheriff Law Enforcement3,824,340 3,924,740 3,372,413 552,327
Sheriff Corrections 3,484,439 3,484,439 3,098,039 386,400
Bond Refunds25,000 25,000 - 25,000
Law Enforcement Education Assistance75,000 75,000 75,000 -
Correction Facilities2,900,526 3,110,526 2,748,075 362,451
Medical Air Transport3,171,803 3,171,803 3,139,683 32,120
Interagency Communications42,877 42,877 37,357 5,520
Juvenile Detention Cost Share235,200 235,200 67,859 167,341
Total Public Safety13,759,185 14,069,585 12,538,426 1,531,159
Court Related:
250,000 249,774 226
Sheriff Extradition 80,000
Sheriff Court Security 370,371 370,371 324,002 46,369
Total Court Related 450,371 620,371 573,776 46,595
Total Expenditures 15,459,556 15,939,956 14,341,251 1,598,705
Excess/Deficiency of Revenues
Over (Under) Expenditures 46,796,140 46,416,140 46,854,499 438,359
(Continued)
The notes to the financial statements are an integral part of these statements.
E-12
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
FINE AND FORFEITURE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies(200,000) (1,120,000) - 1,120,000
Reserve for Cash Balance(4,878,459) (4,878,459) - 4,878,459
Transfers from Other Funds1,500,000 1,500,000 1,493,394 (6,606)
Transfers to Other Funds(51,297,384) (51,297,384) (51,275,994) 21,390
Total Other Financing Sources (Uses)(54,875,843) (55,795,843) (49,782,600) 6,013,243
Net Change in Fund Balances (9,379,703)(8,079,703) (2,928,101) 6,451,602
Fund Balances - October 1 9,379,7038,079,703 19,499,623 10,119,920
Fund Balances - September 30$ --$ 16,571,522$ 16,571,522$
The notes to the financial statements are an integral part of these statements.
E-13
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
HIDTA GRANTS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Intergovernmental20,675,000$ 22,557,000$ 22,503,740$ (53,260)$
EXPENDITURES:
Current:
Public Safety:
Public Safety20,675,000 22,557,000 22,503,740 53,260
Excess/Deficiency of Revenues
Over (Under) Expenditures- - - -
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-14
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
GOVERNMENTAL GRANTS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Intergovernmental-$ 71,270,473$ 20,859,591$ (50,410,882)$
Charges for Services- 163,646 161,782 (1,864)
Investment Income- 1,681 5,223 3,542
Miscellaneous- 478,007 28,120 (449,887)
Total Revenues- 71,913,807 21,054,716 (50,859,091)
EXPENDITURES:
Current:
Public Safety:
Hurricane Irma Recovery- 15,539,556 3,225,604 12,313,952
Emergency Disaster Relief - COVID-19- 1,901,826 93,088 1,808,738
Emergency Management Base Grant- 313,368 163,326 150,042
Radiological Emergency Preparedness- 163,646 131,740 31,906
Emergency Medical Services Award Grant- 103,673 59,754 43,919
Urban Area Security Initiative Grants- 386,236 80,261 305,975
Total Public Safety- 18,408,305 3,753,773 14,654,532
Physical Environment:
Canal Restoration Project- 2,279,107 597,119 1,681,988
Flood Control Program- 15,000,000 517,599 14,482,401
Florida Keys Res Assur Plan- 1,662,560 709,559 953,001
EPA Florida Keys Improve Water Quality- 27,068 1,556 25,512
DEP Mobile Vessels- 2,018,570 1,783,379 235,191
Total Physical Environment- 20,987,305 3,609,212 17,378,093
Transportation:
Scenic Highway Overlooks- 170,770
- 170,770
Roadway Projects 4,673,126- 1,056,869 3,616,257
Transportation Planning Prog 2012 992,422- 539,727 452,695
Pigeon Key Ferry Service 586,987- 273,830 313,157
Total Transportation 6,423,305- 1,870,426 4,552,879
(Continued)
The notes to the financial statements are an integral part of these statements.
E-15
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
GOVERNMENTAL GRANTS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
Economic Environment:
Small Cities CDBG - 2010- 120,032 8,844 111,188
CARES COVID-19 Funding- 19,099,290 6,615,824 12,483,466
Disaster Recovery CDBG- 201,640 23,220 178,420
Total Economic Environment- 19,420,962 6,647,888 12,773,074
Human Services:
CARES Funding for COVID-19- 195,111 60,591 134,520
Nutritional Services In Progress- 250,650 47,775 202,875
Title III-B Supportive Services- 182,076 205,974 (23,898)
Title III-C1 Congregate Meals- 271,358 18,558 252,800
Title III-C2 Home Delivered Meals- 103,304 38,348 64,956
Title III-E Caregiver Support Services- 251,856 176,204 75,652
Low Income Home Energy Program- 628,090 331,906 296,184
Alzheimer's Disease Initiative- 159,101 85,235 73,866
Community Care Disabled Adults - 23,763 15,123 8,640
Weatherization Assistance Program (WAP)- 275,699 35,790 239,909
Drug Court Medical Director Initiative- 43,872 4,150 39,722
Older Americans Act- 257,453 210,013 47,440
Total Human Services- 2,642,333 1,229,667 1,412,666
Culture and Recreation:
State Aid to Libraries- 55,347 47,726 7,621
Historic Monroe County Jail- 494,550 414,082 80,468
Harry Harris Park Boat Ramp - 10,844 - 10,844
Pigeon Key Commissary 482,550- 482,550 -
Lower Keys Scenic VW Area 899,918- 933,803 (33,885)
Total Culture and Recreation 1,943,209- 1,878,161 65,048
Total Expenditures 69,825,419- 18,989,127 50,836,292
(Continued)
The notes to the financial statements are an integral part of these statements.
E-16
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
GOVERNMENTAL GRANTS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
Excess/Deficiency of Revenues
Over (Under) Expenditures- 2,088,388 2,065,589 (22,799)
OTHER FINANCING SOURCES (USES):
Transfers from Other Funds- 3,029,938 858,839 (2,171,099)
Transfers to Other Funds- (5,118,326) (10,820,765) (5,702,439)
Total Other Financing Sources (Uses)- (2,088,388) (9,961,926) (7,873,538)
Net Change in Fund Balances -- (7,896,337) (7,896,337)
Fund Balances - October 1 -- 3,273,855 3,273,855
Fund Balances - September 30$ --$ (4,622,482$ )$ (4,622,482)
The notes to the financial statements are an integral part of these statements.
E-17
MONROE COUNTY, FLORIDA
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
SEPTEMBER 30, 2021
Business-type Activities Enterprise Funds
Major Funds
MunicipalCardKey
Service DistrictSoundWest
WasteBridgeAirpor
t
ASSETS
Current Assets:
Cash and Cash Equivalents
$ 627,3392,667,095$ 1,999,937$
Investments
3,957,83813,240,828 9,828,211
Accounts Receivable, Net
-189,072 745,166
Due from Other Funds
5,58610,236 200,470
Due from Other Governmental Units
49,534441,630 4,542,064
Interest Receivable
7,02024,357 19,877
Total Current Assets
4,647,31716,573,218 17,335,725
Noncurrent Assets:
Restricted Cash and Cash Equivalents
-- 4,574,038
Restricted Accounts Receivable
-- 407,221
Land and Other Nondepreciable Assets
59,5993,629,620 13,337,479
Capital Assets, Net of Accum Depreciation
8,790,8861,930,072 88,015,837
Total Noncurrent Assets
8,850,4855,559,692 106,334,575
Total Assets
13,497,80222,132,910 123,670,300
DEFERRED OUTFLOWS OF RESOURCES
Related to Pensions
67,910210,490 984,936
Related to OPEB
29,70074,400 108,100
Total Deferred Outflows of Resources
97,610284,890 1,093,036
LIABILITIES
Current Liabilities:
Accounts Payable
3,862840,285 1,490,650
Retainage Payable
-- 1,138,191
Accrued Wages and Benefits Payable
20,24753,168 168,673
Claims and Judgments Payable
-- -
Due to Other Funds
-- -
Due to Other Governmental Units
-- 73,167
Revenue Bonds Payable
-- 748,000
Accrued Comp. Absences Payable
4,62217,854 88,362
Unearned Revenues
-- 19,757
Other Current Liabilities
-129,632 -
Deposits in Escrow
-61,365 8,000
Total Current Liabilities
28,7311,102,304 3,734,800
The notes to the financial statements are an integral part of these statements.
E-18
Governmental
Major FundsActivities
Internal
MarathonService
Airpor
tTotalFunds
$ 66,281$ 5,360,652$ 3,349,777
774,295 27,801,172 23,753,287
129,027 1,063,265 58,834
11,313 227,605 315,141
2,760,484 7,793,712 113,091
1,287 52,541 41,472
3,742,687 42,298,947 27,631,602
168,819 4,742,857 -
407,221- -
5,834,552 22,861,250 54,000
12,768,389 111,505,184 648,092
18,771,760 139,516,512 702,092
22,514,447 181,815,459 28,333,694
77,388 1,340,724 670,436
44,900 257,100 125,100
122,288 1,597,824 795,536
934,896 3,269,693 965,371
78,341 1,216,532 -
18,053 260,141 147,736
- 3,447,859-
- - 1,614
9,617 82,784 -
748,000- -
6,002 116,840 49,142
24,400 44,157 3,723
129,632- -
6,306 75,671 -
1,077,615 5,943,450 4,615,445
(Continued)
E-19
MONROE COUNTY, FLORIDA
STATEMENT OF NET POSITION (CONTINUED)
PROPRIETARY FUNDS
SEPTEMBER 30, 2021
Business-type Activities Enterprise Funds
Major Funds
MunicipalCardKey
Service DistrictSoundWest
WasteBridgeAirpor
t
Noncurrent Liabilities:
Payable from Restricted Assets -
Accrued Compensated Absences Payable
18,48771,415 353,447
OPEB Liability
168,000225,000 597,000
Net Pension Liability
463,810698,806 1,583,601
Total Noncurrent Liabilities
650,297995,221 2,534,048
Total Liabilities
679,0282,097,525 6,268,848
DEFERRED INFLOWS OF RESOURCES
Related to Pensions
146,036448,392 2,353,843
Related to OPEB
6,10015,200 22,100
Total Deferred Inflows of Resources
152,136463,592 2,375,943
NET POSITION
Investment in Capital Assets
8,850,4855,559,692 101,353,316
Restricted for:
Passenger Facility Charges
-- 4,981,259
Customs Service Operations
-- -
Unrestricted
3,913,76314,296,991 9,783,970
Total Net Position
$ 12,764,24819,856,683$ 116,118,545$
Adjustment to reflect the consolidation of internal service
activities related to enterprise funds
Net Position of Business-type Activities
The notes to the financial statements are an integral part of these statements.
E-20
Governmental
Major FundsActivities
Internal
MarathonService
Airpor
tTotalFunds
24,010 467,359 196,566
34,000 1,024,000 382,000
223,342 2,969,559 350,365
281,352 4,460,918 928,931
1,358,967 10,404,368 5,544,376
166,485 3,114,756 1,488,595
9,200 52,600 25,600
175,685 3,167,356 1,514,195
18,602,941 134,366,434 702,092
4,981,259- -
168,819 168,819 -
2,330,323 30,325,047 21,368,567
$ 21,102,083 169,841,559$ 22,070,659
(132,673)
$ 169,708,886
E-21
MONROE COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENSES, AND
CHANGES IN NET POSITION
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Business-type Activities Enterprise Funds
Major Funds
MunicipalCardKey
Service DistrictSoundWest
WasteBridgeAirport
Operating Revenues:
Franchise Fees$ 573,418$ -$ -
Charges for Services 21,085,573 2,110,105 11,290,800
Intergovernmental Revenue - 124,899-
Miscellaneous 51,341 - 5,566
Total Operating Revenues 21,710,332 2,110,105 11,421,265
Operating Expenses:
Personnel Services 966,595 293,288 3,089,416
Operations 19,288,580 336,727 10,961,995
Depreciation and Amortization 184,901 401,766 2,484,585
Asserted and Paid Claims - - -
Total Operating Expenses 20,440,076 1,031,781 16,535,996
Operating Income (Loss) 1,270,256 1,078,324 (5,114,731)
Nonoperating Revenues (Expenses):
Operating Grants 128,900 18,182,061-
Grants and Donations - Other Sources - - 5,000
Settlements - 150,000-
Investment Income 44,170 7,852 27,063
Gain on Disposition of Assets 16,542 - 14,306
Total Non-Operating
Revenues (Expenses) 189,612 7,852 18,378,430
Income (Loss) Before
Contributions and Transfers 1,459,868 1,086,176 13,263,699
Capital Contributions - 6,632,248-
Transfers from Other Funds 10,231 5,586 -
Transfers to Other Funds (554,110) (79,776) (480,239)
Total Capital Contributions and Transfers (543,879) (74,190) 6,152,009
Change in Net Position 915,989 1,011,986 19,415,708
11,752,262 104,084,180
Total Net Position - October 1, as previously reported 18,940,694
Restatement - Prior Period Adjustment - (7,381,343)-
Total Net Position - October 1, restated 18,940,694 11,752,262 96,702,837
Total Net Position - September 30$ 19,856,683$ 12,764,248$ 116,118,545
Change in Net Position
Adjustment to reflect the consolidation of internal service
activities related to enterprise funds
Change in Net Position of Business-Type Activities
The notes to the financial statements are an integral part of these statements.
E-22
Governmental
Major FundsActivities
Internal
MarathonService
AirportTotalFunds
$ 573,418-$ -$
35,783,2021,296,724 29,454,616
124,899- -
88,05531,148 794,777
36,569,5741,327,872 30,249,393
4,517,637168,338 2,279,520
31,463,264875,962 6,933,144
3,697,226625,974 87,147
-- 20,180,067
39,678,1271,670,274 29,479,878
(3,108,553)(342,402) 769,515
24,118,6425,807,681 4,370
165,209160,209 -
150,000- -
84,6375,552 68,907
34,8253,977 -
24,553,3135,977,419 73,277
21,444,7605,635,017 842,792
6,632,248- -
26,55410,737 52,365
(1,251,510)(137,385) (261,656)
5,407,292(126,648) (209,291)
26,852,0525,508,369 633,501
150,370,85015,593,714 21,437,158
-
(7,381,343)
15,593,714 142,989,507 21,437,158
$ 21,102,083$ 169,841,559$ 22,070,659
26,852,052
854,082
$ 27,706,134
E-23
MONROE COUNTY, FLORID
A
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Business-type Activities Enterprise Funds
Major Funds
MunicipalCardKey
Service DistrictSoundWest
WasteBridgeAirport
Operating Activities:
Cash Received for Services$ 21,579,376$ 2,155,423$ 11,198,407
Cash received from others - 150,000-
Cash Received from others (19,787,876) (333,288) (10,782,255)
Cash Payments for Employee Services (1,133,311) (324,733) (3,326,670)
Cash Payments for Claims (129,632) - -
Cash Received from (Paid to) Other Sources (57,550) (55,120) (321,800)
Other Operating Revenue 27,148 (6,994) (14,275)
Net Cash Provided by (Used in)
Operating Activities 498,155 1,435,288 (3,096,593)
Noncapital Financing Activities:
Operating Grants Received 128,900 18,182,061-
Transfers from Other Funds 10,231 5,586 -
Transfers to Other Funds (554,110) (79,776) (480,239)
Restricted contributions received - - -
Net Cash Provided by (Used in) Noncapital
Financing Activities (414,979) (74,190) 17,701,822
Capital and Related Financing Activities:
Proceeds from Capital Grants - 6,632,248-
Acquisition of Capital Assets (12,764) (5,786) (15,068,684)
Proceeds from sale of capital assets 16,542 - 14,306
Net Cash Provided by (Used in) Capital and
Related Financing Activities 3,778 (5,786) (8,422,130)
Investing Activities:
Investment Income 44,170 7,852 27,063
Proceeds from Sales and Maturities of Investments 13,956,229 1,799,168 179,993
Purchase of Investment Securities (12,633,910) (3,035,185) (6,200,351)
Net Cash Provided by (Used in) Investing Activities 1,366,489 (1,228,165) (5,993,295)
Net Increase (Decrease) in Cash and
Cash Equivalents 1,453,443 127,147 189,804
Cash and Cash Equivalents:
October 1 1,213,652 500,192 6,384,171
September 30$ 2,667,095$ 627,339$ 6,573,975
The notes to the financial statements are an integral part of these statements.
E-24
Governmental
Major FundsActivities
Internal
MarathonService
AirportTotalFunds
$ 36,181,0341,247,828$ 29,463,922$
150,000- -
(30,795,545)107,874 (7,873,717)
(5,157,522)(372,808) (2,883,815)
(129,632)- (20,115,129)
(3,083,276)(2,648,806) (827,850)
35,75829,879 753,745
(2,799,183)(1,636,033) (1,482,844)
24,278,8515,967,890 4,370
26,55410,737 52,365
(1,251,510)(137,385) (261,656)
-- -
23,053,8955,841,242 (204,921)
6,632,248- -
(20,183,509)(5,096,275) (40,976)
30,848- -
(13,520,413)(5,096,275) (40,976)
84,6375,552 68,907
17,638,3531,702,963 22,305,098
(22,885,321)(1,015,875) (21,811,091)
(5,162,331)692,640 562,914
1,571,968(198,426) (1,165,827)
8,531,541433,526 4,515,604
$ 10,103,509235,100$ 3,349,777$
(Continued)
E-25
MONROE COUNTY, FLORID
A
STATEMENT OF CASH FLOWS (CONTINUED)
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Business-type Activities Enterprise Funds
Major Funds
MunicipalCardKey
Service DistrictSoundWest
WasteBridgeAirport
Reconciliation of Operating Income (Loss)
to Net Cash Provided by (Used in) Operating
Activities:
Operating Income (Loss)$ 1,270,256$ 1,078,324$ (5,114,731)
Adjustments to Reconcile Operating Income (Loss)
to Net Cash Provided by (Used in) Operating
Activities:
Depreciation and Amortization 184,901 401,766 2,484,585
Nonoperating Income-PFC - 150,000-
Change in Assets, Liabilities, and Deferrals:
(Increase) Decrease in Accounts Receivable (79,615) 45,318 (199,088)
(Increase) Decrease in Due from Other Gov't Units (30,986) (49,534) (460,528)
(Increase) Decrease in Due from Other Funds (6,542) (5,586) 84,024
(Increase) Decrease in Interest Receivable (24,193) (6,994) (19,841)
Increase (Decrease) in Accounts Payable (499,796) 3,439 (1,083,405)
Increase (Decrease) in Retainage Payable - 515,145-
Increase (Decrease) in Accrued Wages/Benefits 42,996 18,385 135,406
Increase (Decrease) in Claims/Judgments Payable (129,632) - -
Increase (Decrease) in Due to Other Funds (531) - -
Increase (Decrease) in Due to Other Gov't Units (19,491) - 54,704
Increase (Decrease) in Comp. Absences Payable (4,645) (26,943) (17,722)
Increase (Decrease) in Deposits in Escrow 500 - -
Increase (Decrease) in Revenue Notes Payable - 748,000-
Increase (Decrease) in Unearned Revenue - - (18,204)
Increase (Decrease) in OPEB Liability 8,000 (8,000) 40,000
Increase (Decrease) in Pension Liability (572,319) (186,675) (3,055,358)
Increase (Decrease) in Deferred Outflows 104,323 35,784 651,787
Increase (Decrease) in Deferred Inflows 254,929 136,004 2,008,633
Total Adjustments (772,101) 356,964 2,018,138
Net Cash Provided by (Used in)
Operating Activities$ 498,155$ 1,435,288$ (3,096,593)
Noncash Investing, Capital, and Financing Activities:
Increase (Decrease) in Revenues Notes Payable$ - $ 748,000-$
Loss on Disposition of Assets 16,542 - 14,306
Noncash Investing, Capital, and Financing Activities$ 16,542$ 762,306-$
Cash Reconciliation:
Unrestricted$ 2,667,095$ 627,339$ 1,999,937
Restricted - 4,574,038-
Total$ 2,667,095$ 627,339$ 6,573,975
The notes to the financial statements are an integral part of these statements.
E-26
Governmental
Major FundsActivities
Internal
MarathonService
AirportTotalFunds
$ (3,108,553)(342,402)$ 769,515$
3,697,226625,974 87,147
150,000- -
(306,681)(73,296) 9,306
(3,271,396)(2,730,348) 31,167
148,08376,187 (236,711)
(52,297)(1,269) (41,032)
(674,267)905,495 (944,296)
593,48678,341 -
211,02714,240 118,458
(129,632)- 64,938
(531)- (615,325)
40,5685,355 (6,981)
(46,726)2,584 (105,959)
500- -
748,000- -
6,19624,400 3,723
45,0005,000 32,000
(4,027,177)(212,825) (1,912,056)
813,12321,229 186,124
2,364,868(34,698) 1,077,138
309,370(1,293,631) (2,252,359)
$ (2,799,183)(1,636,033)$ (1,482,844)$
$ 748,000-$ -$
3,977 34,825-
$ 3,977$ 34,825$ -
$ 66,281$ 5,360,652$ 3,349,777
168,819 4,742,857 -
$ 235,100$ 10,103,509$ 3,349,777
E-27
MONROE COUNTY, FLORIDA
STATEMENT OF FIDUCIARY NET POSITION
FIDUCIARY FUNDS
SEPTEMBER 30, 2021
Custodial
Funds
ASSETS
Cash and Cash Equivalents
$ 9,471,194
Accounts Receivable
45,739
Total Assets
$ 9,516,933
LIABILITIES
Accounts Payable
$ 164,177
Undistributed Collections
523,626
Due to Other Governmental Units
2,922,587
Total Liabilities$ 3,610,390
NET POSITION
Restricted for Individuals,
Organizations, and Other Governments
$ 5,906,543
The notes to the financial statements are an integral part of these statements.
E-28
MONROE COUNTY, FLORIDA
STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
FIDUCIARY FUNDS
SEPTEMBER 30, 2021
Custodial
Funds
ADDITIONS
Payments made to individuals and organizations
$ 880,389,177
Charges for services
1,468,291
Fines and forfeitures 89,568
Other collections
1,551
Total Additions$ 881,948,587
DEDUCTIONS
Payments made by individuals and organizations
$ 881,020,178
Payment of court fines, fees, and forfeitures
1,011,205
Other collections
3,170
Total Liabilities$ 882,034,553
Net increase (decrease) in fiduciary net position (85,966)
Net position, beginning of year, as previously stated -
Restatement - change in accounting principle
5,992,509
Net position, beginning of year restated 5,992,509
f year
Net position, end o
$ 5,906,543
The notes to the financial statements are an integral part of these statements.
E-29
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
ICANT ACCOUNTING POLICIES
The financial statements of Monroe
principles generally accepted in the United Statesapplied to governmental
units. The Governmental Accounting Standards Bo
for establishing governmental accounting and financial reporting principles.
The following summary of the more significant accounting policies of the 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:
Monroe County, Florida 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
members, is the legislative body for the County and, as such, budgets
and provides funding used by the separate Constitutional Offices with the exception of fees collected by
the Clerk of the Circuit Courthe Tax Collector. The County
Administrator serves as the principal executive officer for the Board. In addition, certain designated
governmental functions are performed by constitutional officers who are elected at large. The five
constitutional officers are: Clerk, 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, the Monroe County Finance Department maintains the accounting system for
erk, Property Appraiser, Sheriff, Supervisor of
Elections, and Tax Collector, each of whom maintains their own accounting system.
Services provided by the County 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.
Entity status for financial reporting purposes is governed by GASB Statement No. 14, as amended, by
GASB Statement No. 61, and Rules of the Auditor General, State of Florida. 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 the 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. All component units of
the County have a September 30 fiscal year end.
F-1
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
ACCOUNTING POLICIES (continued)
These financial statements includecomponent unit. Blended component units are
legally separate entities that ars 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 unit are merged in with
similar transactions of the County as part of the primary government.
The blended component unit of the County is as follows:
Monroe County Industrial Deve
Monroe County, Florida Resolution pursuant to Florida Statute 159. The MCIDA serves to assist
in financing and refinancing capital projects fostering economic development in the County. The
Board serves as the governing board. The MCIDA is not legally required to adopt a budget;
however, the County must authorize the issuance of bonded debt. The MCIDA, for financial
reporting purposes, is considered a blended component unit of Monroe County, Florida. Neither
the MCIDA nor the County has any legal obligation for repayment of the revenue bonds of the
tions, the MCIDA has no assets, liabilities, or
transactions during the current year.
Discretely-presented component units are legally separate entities which do not meet the criteria for
blending. They are reported in a separate column to emphasize that they are legally separate. The
following is a discretely-presented component unit of the County:
Monroe County, Florida Comprehensive Plan
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 but there is no financial benefit or burden relationship. Therefore, the
MCLA, for financial reporting purposes, is considered a discretely-presented component unit of
Monroe County, Florida and is presented as a separate column in
statements. Complete financial statements for MCLA can
administrative office at 1200 Truman Avenue, Suite 207, Key West, Florida 33040.
Basis of Presentation:
Government-Wide Financial Statements: The statement of net position and the statement of activities
report information about the nonfiduciary activities of the primary government. Fiduciary funds of the
government are eliminated from this presentation since these resources are not available for general
government funding purposes.
These statements provide a consolidated financial picture of the government distinguishing between
governmental activities and business-type activities. Governmental activities are primarily financed
through taxes and intergovernmental revenues, while business-type activities are primarily financed
through charges for services to external parties.
F-2
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
ACCOUNTING POLICIES (continued)
The statement of activities presents a comparison between direct expenses of the program revenues for
, 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 provi
funds, including its fiduciary fund and blended component unit. Separate statements for each fund
governmental, proprietary, and fiduciary phasis 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:
l operating fund of the County. All general tax
revenues and other receipts not required either legally or by accounting principles generally
accepted in the United States of America to be accounted for in other funds are accounted for in
the General Fund.
ne and Forfeiture Fund is used to account for
revenues received from fines and forfeitures imposed from the commission of statutory offenses,
ad valorem taxes transferred to the Sheriff and to account for operations
support system.
is to account for all revenues and expenditures
for the federal Office of National Drug Control Drug Trafficking Areas
grant program.
Governmental Grant Fund is used to account
for operating revenues and expenditures for governmental grant activity.
One Cent Infrastructure Surtax nt Infrastructure Surtax Fund
is used to account for capital improvements funded by the One Cent Infrastructure Surtax.
Infrastructure Revenue Bonds Series 2014 Fund
is used to account for capital projects funded by the Infrastructure Revenue Bonds Series 2014.
F-3
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
ACCOUNTING POLICIES (continued)
Cudjoe Regional Wastewater Capital Project F
Project Fund is used to account for the revenues and expenditures for the wastewater
infrastructure for the Cudjoe Regional area of Monroe County.
ed to account for accumulation of resources
for, and payment of, interest and principal on the long-term debt incurred in the issuance of
various revenue bonds and notes.
The following are reported as major enterprise funds:
l Service District-Waste Fund is used to
account for the operations of solid waste collection, disposal and recycling activities.
is used to account for the operations of
used to account for the operations of Monroe
rnational Airport.
used to account for the operations of Monroe
hon International Airport.
The Board also reports the following fund types:
compensation insurance, health insurance, general liability insurance, and fleet maintenance
services provided by one department to other departments of the County or to other
governmental units on a cost reimbursement basis.
held on behalf of third parties and do not
involve the measurement of operating results. Examples include taxes, fees, and fines collected
on behalf of other governments.
Measurement Focus and Basis of Accounting:
Government-Wide and Proprietary Fund Financial Statements
economic resources measurement focus and the accrual basis of accounting. Revenues are recognized
when earned and expenses are recognized when incurred, regardless of when the related cash flows take
place.
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.
F-4
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
ACCOUNTING POLICIES (continued)
Non-exchange transactions, in which the County gives (or receives) value without directly receiving (or
giving) equal value in exchange, include property taxes, grants, entitlements, and donations. On an
accrual basis, revenue from grants, entitlements, and donations is recognized in the fiscal year in which
all eligibility requirements have been satisfied.
The County has chosen to fund the Volunteer Firefighter and Emergency Medical Services Length of
you-go basis. Pension expenditures are made from
the General Fund, which is maintained on the modified accrual basis of accounting. Benefits and refunds
are recognized when due and payable in accordance with the terms of the LOSAP.
The LOSAP has no assets accumulated in a trust that meets the following criteria, outlined in GASB
Statements 67 and 68:
Contributions to the pension plan and earnings on those contributions are irrevocable.
Pension plan assets are dedicated to providing benefits to plan members.
Pension plan assets are legally protected from the creditors or employers.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating
revenues and expenses generally result from providing services and producing and delivering goods in
s principal ongoing operations. The principal operating revenues of
arges 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
measurement focus and are maintained on the modified accrual basis of accounting. Revenues are
recognized when they become susceptible to accrual
res of the current period. The County considers amounts collected
within 60 days after year end to be available and thus recognizes them as revenues of the current year,
except for property taxes since such taxes are collected to finance expenditures of the subsequent period.
Expenditures are recognized in the accounting period in which the related fund liability is incurred, if
measurable. Principal and interest on general long-term debt are recorded as fund liabilities when due or
when amounts have been accumulated in the debt service fund for payments to be made early in the
following year. Expenditures related to compensated absences are recorded only when leave has been
taken.
F-5
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
ACCOUNTING POLICIES (continued)
Revenues of the County, which are susceptible to accrual under the modified accrual basis of
accounting, include property taxes, gas taxes, sales taxes, grants, interest revenue, and charges for
services. In applying the susceptibility-to-accrual concept to intergovernmental revenues, the legal and
contractual requirements of the numerous individual programs are used as guidance. There are, however,
essentially two types of these revenues. In one, monies must be expended for the specific purpose or
project before any amounts will be paid to the County; therefore, revenues are recognized based upon
the expenditures recorded. In the other, monies are virtually unrestricted as to purpose of expenditure
and substantially irrevocable; i.e., revocable only for failure to comply with prescribed compliance
requirements, such as with equal employment opportunity. These resources are reflected as revenues at
the time of receipt or earlier if they meet the availability criterion.
If revenues are expected to be received later than 60 days following the end of the fiscal year, then a
receivable is recorded, along with deferred inflows of resources. Once the funds are received, revenue
and cash are recorded and the receivable and deferred inflows of resources are eliminated. Deferred
inflows of resources also include grant receipts received in advance when time requirements are the only
eligibility requirements that have not been met.
The proprietary fund financial statements use a flow of economic resources measurement focus and the
accrual basis of accounting. Revenues are recognized when earned and expenses are recognized when
incurred, regardless of when the related cash flows take place.
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 position available to finance the
policy to first apply cost-reimbursement grant resources to such programs,
followed by categorical block grants, and then by general revenues.
Budgets and Budgetary Data:
Listed below are the statutory procedures followed by the Board of County Commissioners in
establishing the budget for Monroe County:
1) On or before June 1 of each year, the Sheriff, the Clerk, the Tax Collector, the Property Appraiser,
and the Supervisor of Elections shall each submit to the Board, a tentative budget for their
respective offices for the ensuing fiscal year.
2) Within fifteen days after certification of the ad valorem tax roll by the Property Appraiser, the
County Administrator submits to the Board a proposed budget for the fiscal year commencing the
following October 1. The budget includes proposed expenditures and the means of financing said
expenditures.
3) By Board resolution, a tentative budget is submitted to the public. Public hearings are held to
obtain taxpayer comments.
F-6
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
ACCOUNTING POLICIES (continued)
4) Fifteen days after adoption of the tentative budget, a final budget is submitted for review and
adoption at a final public hearing.
5) Prior to, or on September 30, the Board's budget is legally enacted through passage of a resolution.
Accordingly, all fund types have an adopted budget as required by Florida Statute 129.03.
6) During the year, the County Administrator acts on intradepartmental budget changes that do not
alter the total revenue or expenditures budgeted to a cost center. A cost center represents a
particular area of Board operations or a department. All other budget changes (whether they are
transfers between cost centers or alterations of total revenues and expenditure in a fund) are
approved by the Board. Supplemental appropriations were necessary and the budgetary data
presented herein was amended by the Board during the year.
7) Florida Statute 129, Section 7, as amended in 1978, provides that only expenditures in excess of
total fund budgets are unlawful. However, because the Board acts on all budget changes between
cost centers, this becomes the level of control.
8) Budgeted to actual expenditure reports are employed as a management control device during the
year for all fund types.
9) Budgets for all funds are adopted on a basis consistent with GAAP for that fund type.
10) All appropriations lapse at year end.
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.
Encumbrances:
Encumbrance accounting, under which purchase orders, contracts, and other commitments for the
expenditure of moneys are recorded as assigned fund balance and is employed as an extension of the
statutorily required budgetary process. Under Florida Statutes, appropriations, even if encumbered, lapse
tention is to substantially honor these encumbrances under authority
F-7
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
ACCOUNTING POLICIES (continued)
Cash and Cash Equivalents:
Cash balances from the majority of funds are pooled for investment purposes. Earnings from such
investments are allocated to the respective funds based on applicable cash participation by each fund.
The investment pools are managed such that all participating funds have the ability to deposit and
withdraw cash as if they were demand deposit accounts. Therefore, all balances representing
assified as cash equivalents for purposes of these
statements. For investments, held separately from the pools, highly liquid (including restricted assets)
with an original or remaining maturity of 90 days or less are considered cash equivalents.
Investments:
Florida Statute 218.415 authorizes local governments to invest its funds pursuant to a written investment
plan, which allows investment of surplus funds in the following:
1) U.S. Treasury & Government Guaranteed - U.S. Treasury obligations, and obligations the principal
and interest of which are backed or guaranteed by the full faith and credit of the U.S. Government.
2) Federal Agency/Government S - Debt obligations, participations or
other instruments issued or fully guaranteed by any U.S. Federal agency, instrumentality or GSE.
3) obligations of a multilateral organization of
governments where the U.S. is a shareholder and voting member.
4) ed corporate notes, bonds, or other debt obligations issued or
guaranteed by a domestic corporation, financial institution, non-profit, or other entity.
5) e and tax-exempt, issued or guaranteed by any
State, territory, or possession of the U.S., political subdivision, public corporation, authority,
agency board, instrumentality or other unit of local government of any State or territory.
6) - MBS are backed by residential, multi-family or
commercial mortgages, that are issued or fully guaranteed as to principal and interest by a U.S.
Federal agency or government sponsored enterprise, including but not limited to pass-throughs,
collateralized mortgage obligations and real estate mortgage investment conduits.
7) - ABS whose underlying collateral consists of loans, leases, or
receivables, including but not limited to auto loans/leases, credit card receivables, student loans,
equipment loans/leases, or home-equity loans.
8) Non-Negotiable Certificate of Deposit and Savings Accounts - Non-negotiable interest bearing
time certificates of deposit, or savings accounts in banks organized under the laws of the State of
Florida or in national banks organized under the laws of the United States and doing business in
Florida, provided that any such deposits are secured by the Florida Security for Public Deposits
Act, Chapter 280, Florida Statutes.
F-8
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
ACCOUNTING POLICIES (continued)
9) Commercial Paper U.S. dollar denominated commercial paper issued or guaranteed by a
domestic corporation, company, financial institution, trust or other entity, only unsecured debt
permitted.
10)
U.S. branch of a foreign bank.
11)Repurchase Agreements Repurchase agreements that meet specific requirements listed in
Monroe County Resolution 032-2019.
12)Money Market Funds Shares in open-end and no-load money market mutual funds, provided
such funds are registered under the Investment Company Act of 1940 and operate in accordance
with Rule 2a-7.
13)Intergovernmental Investment Pools Intergovernmental Investment Pools that are authorized
pursuant to the Florida Interlocal Cooperation Act, as provided in Section 163.01, Florida
Statutes.
All investments are stated at fair value or at amortized cost, which approximates fair value.
Accounts Receivable:
Amounts due from private individuals, organizations, or other governments, which pertain to charges for
services rendered, are reported as accounts receivable. Receivables are reviewed periodically to establish
or update the provisions for uncollectible amounts. These provisions are estimated based on an analysis
of the age of the various accounts.
Interfund Balances and Activity:
During the course of normal operations, the County has numerous transactions between funds. Examples
of these transactions include providing services, constructing assets, matching grants, or servicing debt.
These transactions are generally recorded as interfund transfers, except for internal service fund charges,
which are reflected as revenues to internal service funds and expenses/expenditures to the funds
receiving the services.
As part of the consolidation process, to avoid distorting financial results, the interfund activities are
eliminated in the General Fund. Interfund activities such as municipal and unincorporated service
gency communications are reported as revenues in the fund that
captures the revenue and as an expenditure in the fund which disburses the funds for the service. The
offsetting expenditures and revenues are reclassified to interfund transfers. However, interfund security
services provided by the Sheriff and used by the airports are not eliminated.
Additionally, short-term interfund loans are recorded as cash flow needs arise. As of fiscal year-end, any
unpaid amounts related to these transactions are repor
ncial statements.
F-9
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
ACCOUNTING POLICIES (continued)
Inventory:
Inventory in the General Fund consists of certain supplies, which are stated at cost using the moving
average cost method. The inventory is determined by an annual physical count. Inventory is reported as
a non-spendable classification of fund balance as these amounts are not in spendable form and are not
expected to be converted to cash.
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 hierarchy of enterprise
fund spending is to use restricted resources first, and then unrestricted resources as they are needed.
Restricted assets are classified as noncurrent if they are for acquisition or construction of capital assets,
for liquidation of long-term debt, or are for other than current operations.
Mortgage/Notes Receivable:
The mortgages receivable associated with the Governmental Grants and the Local Housing Assistance
funds are intended to ultimately be forgiven; as such, they are offset by an allowance for uncollectible
accounts.
Capital Assets:
Capital assets are reported in the applicable governmental or business-type activities column in the
government-wide financial statements. Capital assets of the County include property, buildings,
equipment, and infrastructure assets (e.g. roads, bridges, curbs and gutters, streets and sidewalks,
drainage systems, and lighting systems). Constructed or purchased assets are recorded at historical or
estimated historical cost at the time of purchase. Donated assets are recorded at estimated acquisition
value at the date of donation. Costs of maintenance and repairs that do not add to the value of assets or
extend their useful lives are not capitalized.
The County maintains a $1,000 threshold for additions to equipment with an estimated useful life in
excess of two years. Buildings are capitalized when the value is $15,000 or greater. Public domain and
infrastructure assets represent major expenditures for such items as roads, water and sewer treatment
plants and lines, landfill improvements, parks, and drainage systems. Additions and 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.
F-10
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
ACCOUNTING POLICIES (continued)
Depreciation has been provided using the straight-line method. The estimated useful lives of the various
classes of depreciable capital assets are as follows:
Life-Years
Buildings 10-50
Equipment 5-10
Intangible Assets 10-15
Infrastructure 10-50
Public Domain Infrastructure 20-50
Capacity Rights 99
Capacity rights represent an intangible asset that arose from a contract with a private wastewater
operator that includes wastewater processing capacity for 1,500 equivalent dwelling units for a period of
99 years.
The MCLA also has intangible assets consisting of affordable rental housing restrictions applicable to
Peary Court in Key West. These restrictions require the housing at Peary Court to be rented at or below
the levels set by the City of Key ousing Ordinance.
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.
Deferred Inflows of Resources:
Deferred Inflows of Resources represents an acquisition of net position that applies to a future period
and therefore will not be recognized as an inflow of resources until that time. The County has four items
that qualify for reporting in this category: (1) Unavailable revenues; (2) Advances from Other
Governments; (3) Pension-related items; and (4) Other Post-Employment Benefits. The advances from
other governments are grants received in advance of meeting the timing requirements for revenue
recognition in governmental funds. The governmental funds report unavailable revenues where receipts
are not within the 60-day time frame for revenue recognition. The enterprise and internal service funds
and governmental and business-type activities report deferred inflows for pension related items and
other post-employment benefit items as actuarially determined.
Deferred Outflows of Resources:
Deferred Outflows of Resources represents a consumption of net position that applies to a future period
and, therefore, will not be recognized as an outflow of resources (expense) until that future time. The
enterprise and internal service funds report deferred outflows for pension-related and other post-
employment benefit items as actuarially determined.
F-11
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
ACCOUNTING POLICIES (continued)
Long-Term Obligations:
Long-term debt is reported as a liability in the proprietary fund statement of net position. Long-term
governmental activities is presented on the government-wide financial
al fund financial statements, the face amount of
debt issued is reported as another financing source, while principal payments are reported as
expenditures.
Property Taxes:
Property taxes, based on assessed values at January 1, are levied and become due and payable on
November 1st of each year. A 4% discount is allowed if the taxes are paid in November, with the
discount declining by 1% 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 2021 is included in
the accompanying financial statements, since such taxes are collected to finance expenditures of the
subsequent period.
Fund Balance Policies:
The focus of fund balance reporting is to clearly communicate the constraints imposed upon resources in
governmental funds. The fund balance classifications indicate the level of constraints placed upon how
resources can be spent and identify the sources of those constraints. The following five classifications:
non-spendable, restricted, committed, assigned, and unassigned, serve to inform readers of the financial
statements of the extent to which the Board is bound to honor constraints on the specific purposes for
which resources in a fund can be spent.
Fund balances of governmental type funds are classified as follows:
ounts that cannot be spent because they are either not in spendable
form, or for legal or contractual reasons, must be kept intact. This classification includes inventory.
ly for specific purposes because of constitutional
provisions or enabling legislation, or because of constraints externally imposed by creditors,
grantors, contributors or the laws or regulations of other governments.
y for the specific purposes determined by a
formal action in the form of a resolution of the Bo level of decision-
making authority. Commitments may be changed or lifted only by the Board taking the same
formal action that imposed the constraint originally.
be used for specific purposes determined by
a formal action in the form of a resolution but ar
policy authorizes the County Administrator to assign fund balance based on intentions for use of
fund balance communicated by the Board.
F-12
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
ACCOUNTING POLICIES (continued)
fication of the General Fund. Only the General Fund reports a
positive unassigned fund balance. Other governmental funds might report a negative balance in
this classification, as the result of overspending for specific purposes for which amounts had been
restricted, committed, or assigned. Unassigned fund balance does not necessarily represent the
amount of fund balance that can be appropriated.
The Board has the responsibility of responding to emergency disaster and has committed $10 million in
funds to ensure adequate cash flow is available in post-disaster
situations.
The Board has defined unrestricted General Fund balance as the amount of fund balance that the Board
has placed constraints on its use (committed or assigned fund balance) plus the fund balance that does
not have any specific purpose identified for the use of those net resources (unassigned fund balance).
tricted general fund balance is to achieve and maintain an unrestricted
General Fund balance equal to four months of budgeted expenditures. The Board considers a balance of
less than four months to be a cause for concern, barring unusual or deliberate circumstances, and a
balance of more than six months as excessive. Since this is a plan for accumulating resources rather than
a limitation on how existing resources can be spent, the fund balance policy does not affect the
classification of fund balance and is included in the unrestricted fund balance.
The County spends restricted amounts first, when both restricted and unrestricted fund balance is
available, unless prohibited by legal documents, grant agreements or contracts. Additionally, the County
uses committed fund balance, followed by assigned fund balance and then unassigned fund balance
when expenditures are incurred for purposes for which amounts in any of the unrestricted fund balance
classifications could be used.
The County spends restricted amounts first, when both restricted and unrestricted fund balance is
available, unless prohibited by legal documents, grant agreements or contracts. Additionally, the County
uses committed fund balance, followed by assigned fund balance and then unassigned fund balance
when expenditures are incurred for purposes for which amounts in any of the unrestricted fund balance
classifications could be used.
The County adopts an annual budget for the General Fund at their September meeting preceding the
fiscal year end. All annual appropriations lapse at the fiscal year end. Mid-year and year-end
amendments are made to the budget as necessary. The budget is prepared and controlled at the cost
Fund is prepared under a budgetary basis and
adjustments necessary to convert the results of operations to the modified accrual basis of accounting are
made at year-end if necessary. General Fund actual expenses exceeded budget primarily due to
outsourced contract services for engineering and project management and offset by direct personnel
services that were less than budgeted.
F-13
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
ACCOUNTING POLICIES (continued)
Fund Balance:
The County reported two funds with deficits at September 30, 2021: ($4,324,482) in the Governmental
ants Fund. On September 10, 2017, the County
ry efforts resulted in the reported fund deficits
because the County has not yet received all reimbursement from the Federal Emergency Management
Net Position:
Net position in the proprietary fund financial statements is classified as net investment in capital assets;
restricted and unrestricted. Restricted net position of $5,150,078 indicates constraints on resources that
are either externally imposed by creditors, grantors, contributors, or laws or regulations of other
governments or imposed by law through state statute.
New Accounting Pronouncement:
Effective October 1, 2020, the County adopted the provisions of GASB Statement No. 84, Fiduciary
Activities. This statement changed the liability recognition criteria so that liabilities are only recorded
when an event that compels the County to pay has occurred or if there is no requirement to be compelled
to pay. The Statement of Changes in Net Position was also added as a required statement under this
Statement. Note 21 details the restatement of the beginning net posi
VALENTS, AND INVESTMENTS
The County maintains a cash and investment pool available for use by all funds except those whose cash
and investments must be segregated due to bond covenants or other legal restrictions.
As of September 30, 2021, the carrying value of the
respective credit ratings, are as follows:
Valuation 6 Months
Measurement FairLess thanto1 to 5Over 5
Investment TypeMethodValue6 Months1 YearYearsYears
Demand DepositsN/A82,827,806$ 82,827,806$ $ - $ - $ -
FL CLASS InvestmentsAmortized Cost30,824,717 30,824,717 - - -
FL PALM & FL PALM Term PooledAmortized Cost54,237,989 54,237,989 - - -
Asset-Backed Security (ABS)Fair Value - Level 29,038,643 - 18,762 9,019,881 -
Municipal BondsFair Value - Level 24,851,772 125,000 452,159 3,517,685 756,928
Corporate NoteFair Value - Level 236,161,922 3,472,827 4,852,991 27,836,104 -
Commercial PaperFair Value - Level 338,800,599 21,472,333 17,328,266 - -
Federal Agency (FHLMC)Fair Value - Level 23,492,297 - - 3,492,297
Federal Agency Collateralized Mortgage Obligation (CMO)
Fair Value - Level 24,501,751 1,017,819 977,086 2,506,846 -
Federal Agency Mortgage-Backed Security (MBS)Fair Value - Level 26,693,479 - - 848,797 5,844,682
49,298,801
U.S. TreasuryFair Value - Level 2 19,138,895 1,515,703 28,644,203 -
Total Fair Value $ 320,729,777 $ 213,117,386 $ 25,144,968 $ 75,865,813 $ 6,601,610
F-14
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
, AND INVESTMENTS (continued)
The County categorizes its fair value measurements within the fair value hierarchy established by
GAAP. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. Level
1 inputs are unadjusted quoted prices in active markets for identical assets. Level 2 inputs are either
directly or indirectly observable for an asset (including quoted prices for similar assets), which may
include inputs in markets that are not considered active. Level 3 inputs securities are significant
unobservable inputs.
Securities classified in Level 2 are evaluated prices from the custodi
vendors. The pricing methodology involves the use of evaluation models such as matrix pricing which is
relationship to benchmark quoted prices. Other evaluation models use actual
trade data, collateral attributes, broker bids, new issue pricings and other observable market information.
There are no restrictions or limitations on withdrawals; however, FLCLASS may, on the occurrence of
an event that has a material impact on liquidity or operations, impose restrictions on withdrawals for up
to 48 hours.
Credit Risk and Concentration of and adopted its Investment Policy
ted investments, and establishes limitations on
portfolio composition, by both investment type and by issuer, in order to control concentration of credit
risk. The following table identifies the investment requirements and allocation limits on security types,
issuers, and maturities as established by the County.
Under the Policy, theClerk has the option to further restrict investment percentages from time to time
based on market conditions, risk, and diversification strategies. The percentage allocation requirements
for investment types and issuers are calculated based on the original cost at the time of purchase of each
investment.
Portfolio Per Issuer
Investment Maximum Maximum Minimum Ratings
Maximum
1
Type (%) (%) Requirement
Maturity
U.S. Treasury 100%
5.50 Years
Government National
(5.50 Years
40%
100% N/A
4
Mortgage Association
avg. life
Other U.S. Government
for GNMA)
10%
Guaranteed (e.g. AID, GTC)
Federal Agency/GSE:
3
FNMA, FHLMC, 40%
5
FHLB, FFCB
N/A 5.50 Years
75%
Federal Agency/GSE
10%
other than those above
Supranationals Highest ST or Highest LT Rating
where U.S. is a shareholder 25% 10% Categories 5.50 Years
and voting member (A-1/P-1, AAA/Aaa, or equivalent)
F-15
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
, AND INVESTMENTS (continued)
Portfolio Per Issuer
Investment Minimum Ratings Maximum
Maximum Maximum
Type Requirement1 Maturity
(%) (%)
Highest ST or Three Highest
2
Corporates 50% 5% LT Rating Categories 5.50 Years
(A-1/P-1, A-/A3 or equivalent)
Highest ST or Three Highest
Municipals 25% 5% LT Rating Categories 5.50 Years
(SP-1/MIG 1, A-/A3, or equivalent)
Agency Mortgage-Backed 5.50 Years
3
25% 40% N/A
4
Avg. Life
Asset-Backed Securities Highest ST or LT Rating 5.50 Years
25% 5%
4
(A-1+/P-1, AAA/Aaa, or equivalent) Avg. Life
Non-Negotiable
None, if fully
Collateralized Bank Deposits 50% None, if fully collateralized. 2 Years
collateralized
or Savings Accounts
Highest ST Rating Category
2
Commercial Paper 50% 5% 270 Days
(A-1/P-1, or equivalent)
Highest ST Rating Category
2
5% 180 Days
(A-1/P-1, or equivalent)
Counterparty (or if the counterparty is
not rated by an NRSRO, then the
Repurchase Agreements 40% 20% the Highest ST Rating Category 1 Year
(A-1/P-1, or equivalent)
If the counterparty is a Federal
Reserve Bank, no rating is required
Highest Fund Rating by all NRSROs
Money Market Funds 50% 25% who rate the fund N/A
(AAAm/Aaa-mf, or equivalent)
Highest Fund Quality and Volatility
Intergovernmental Pools Rating Categories by all NRSROs
50% 25% N/A
who rate the LGIP,
(AAAm/AAAf, S1, or equivalent)
Florida Local Government
Highest Fund Rating by all NRSROs
Surplus Funds Trust Funds 25% N/A N/A
who rate the fund
(AAAm/Aaa-mf, or equivalent)
Notes:
1
Rating by at least one SEC-registered Nationally Recognized Statistical Rating Orga
ST=Short-term; LT=Long-term.
2
Maximum allocation to all corporate and bank credit instruments is 50% combined.
3
Maximum exposure to any one Federal agency, including the combined holdings of Agency debt and Agency MBS, is 40%.
4
The maturity limit for MBS and ABS is based on the expected average life at time of settlement, measured using Bloomberg or other
industry standard methods.
5
F-16
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
, AND INVESTMENTS (continued)
investment portfolio invested in Federal
instrumentalities is detailed as follows:
Percent of
Investment
Issue Portfolio
Federal Agency Mortgage-Backed Security (MBS) 2.81%
Federal Agency Collateralized Mortgage Obligations (CMO) 1.89%
Federal Home Loan Mortgage Corporation (FHLMC) 1.47%
deposits to be secured as provided by Chapter 280,
Florida Statutes. This law requires local governments to deposit funds only in financial institutions
designated as qualified public depositories by the Chief Financial Officer of the State of Florida.
Demand and time deposits are fully insured by the Federal Deposit Insurance Corporation for the first
$250,000 at each institution and the remaining balances are insured 100% by the State of Florida
collateral pool, a multiple institution pool with the ability to assess its members for collateral shortfalls if
a member institution fails.
The Policy requires execution of a third-party custodial safekeeping agreement for all purchased
securities and requires that securities of September 30, 2021, all of the
months. The Policy limits the investment of noncurrent operating funds to 5.50 years.
has the following unrestricted and restricted cash
and cash equivalents at September 30, 2021:
Demand
Cash and Cash Equivalents Deposits
Governmental Activities
Governmental Funds $69,374,520
Internal Service Funds 3,349,777
Business-Type Activities 5,360,652
Total Unrestricted Cash and Cash Equivalents 78,084,949
Restricted Cash and Cash Equivalents
Business-Type Activities 4,742,857
Total Cash and Cash Equivalents $82,827,806
As of September 30, 2021, the custodial funds had a cash balances totaling $9,471,194 in demand
deposits.
F-17
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
Restricted assets in the Enterprise Funds include those assets created by resolutions adopted by the
County for the airport passenger facility charges and customs service operations. Total restricted assets
as of September 30, 2021 are as follows:
Cash and Cash Accounts
Equivalents Receivable Total
Key West Airport Passenger Facility Charges $4,574,038 $ 407,221 $4,981,259
Marathon Airport Customs Service Operations 168,819 - 168,819
$4,742,857 $ 407,221 $5,150,078
Accounts receivable, in the accompanying fund financial statements, are shown net of the allowance for
doubtful accounts. The accounts receivable and the allowance balances are as follows:
Allowance for
Accounts Accounts
Uncollectible
Service ProvidedReceivableReceivable, Net
Accounts
Governmental Activities:
General FundMisc $ 81,686 $ 4,376 $ 77,310
Fine & Forfeiture FundAir Amb Svc 32,336,435 22,522,988 9,813,447
HIDTA GrantsMisc 25,647 - 25,647
Governmental GrantsMisc 35,836 667 35,169
Nonmajor Funds:
Fire & Amb Dist 1 Fund Ground Amb Svc 2,054,021 1,912,982 141,039
Other Nonmajor FundsMisc 8,375 4,836 3,539
Internal Service FundsMisc 61,806 2,972 58,834
Total Governmental Activities 34,603,806 24,448,821 10,154,985
Business-Type Activities:
MSD-Waste Fund:Tipping Fees 267,810 78,738 189,072
Key West AirportRent, Misc 748,924 3,758 745,166
Marathon AirportRent, Misc 129,027 - 129,027
Total Business-Type Activities 1,145,761 82,496 1,063,265
Total Accounts Receivable $ 35,749,567 $ 24,531,317 $ 11,218,250
F-18
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
The Board passed Resolutions 402-2020 and 401-2020 approving air and ground ambulance billing
write offs, respectively, of $2,373,352 and $397,897 for fiscal year 2021. The Board also passed
Resolution 400-2020 to write off $1,402,233 of air ambulance billings related to resident waivers.
The County has been improving water quality by replacing cesspits and septic systems with a series of
central wastewater collection and treatment systems. The County has funded these projects with state
grants and loans, local infrastructure sales surtax, and special assessments levied on the property owners.
The property owners have the option of paying their special assessments up front or on an installment
basis added to their real estate tax bills. Revenue is recognized on the modified accrual basis.
Any remaining assessment owed is recorded as a receivable with an offset to deferred inflows of
resources for those amounts that are not available.
Mortgages receivable at September 30, 2021 consist of the following:
Majd:
Second Mortgages Receivable from individuals, collateralized by personal
residences. Payment of principal deferred for 10 years from date of note.
Principal is amortized in equal monthly amounts starting in year 6 until 10 at
which time the loan is fully forgiven. In event of sale/transfer of property or
occupancy, the prorated principal balance is due in full within 30 days of
sale/transfer or cessation of primary residence.
$ 277,620
Nonmajor Governmental Funds
Second Mortgages Receivable from individuals, collateralized by personal
residences. Commencing in year 16 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.
5,138
F-19
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
CEIVABLE (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.
8,039,310
Second Mortgages Receivable from individuals, collateralized by personal
residences. The entire balance of the mortgages will be forgiven upon maturity,
provided that the mortgagor complies with the mortgage covenants. The
mortgages are interest free. 469,467
Florida Homebuyer Opportunity Tax Credit, Second Mortgages Receivable
from individuals, collateralized by personal residences. Interest is 6% per
annum, except if paid in full within first 18 months of repayment period then
interest rate shall be 0% from the date when the first payment is due. 16,000
Second Mortgages Receivable from individuals, collateralized by personal
residences. The entire balance of the mortgages will be forgiven upon maturity,
provided that the mortgagor complies with the mortgage covenants. The
mortgages are interest free.
211,868
Disaster Mitigation Loans that will be deferred for a period of ten years with a
0% interest rate. The entire balance of the mortgages will be forgiven at a rate
of 20% per year upon maturity, provided that the mortgagor complies with the
mortgage covenants. The mortgages are interest free.
1,262,497
Total Nonmajor Governmental Funds-Local Housing Assistance 10,004,280
Total Mortgages Receivable
$10,281,900
The mortgages receivable associated with the governmental grants are offset by an allowance for
uncollectible accounts of $277,620. As the mortgages receivable associated with the Local Housing
Assistance fund are intended to ultimately be forgiven, an allowance for uncollectible accounts of
$10,004,280 has been established.
F-20
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
Capital asset activity for the year ended September 30, 2021 is shown in the following table. 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.
Beginning
Balance Ending
(as restated) Additions Reductions Balance
Governmental Activities:
Capital assets not depreciated:
Land $ 84,241,805 $ 1,666,613 $ (1,634,904) $ 84,273,514
Land Development Rights - 1,475,832 - 1,475,832
Construction in progress 35,959,928 35,059,341 (22,257,355) 48,761,914
Total capital assets not depreciated 120,201,733 38,201,786 (23,892,259) 134,511,260
Capital assets depreciated:
Buildings 176,160,012 14,120,146 (5,604) 190,274,554
Equipment 88,211,976 12,296,962 (5,166,566) 95,342,372
Infrastructure 404,164,393 3,494,375 - 407,658,768
Capacity rights 3,150,000 - - 3,150,000
Total assets depreciated 671,686,381 29,911,483 (5,172,170) 696,425,694
Less accumulated depreciation for:
Buildings (76,348,169) (3,898,531) 72,382 (80,174,318)
Equipment (57,814,734) (7,770,585) 5,121,402 (60,463,917)
Infrastructure (64,124,321) (9,166,881) - (73,291,202)
Capacity rights (509,088) (31,818) - (540,906)
Total accumulated depreciation (198,796,312) $(20,867,815) $ 5,193,784 (214,470,343)
Total capital assets depreciated, net 472,890,069 481,955,351
Governmental funds, capital assets, net $ 593,091,802 $ 616,466,611
Business-Type Activities:
Capital assets not depreciated:
Land $ 5,647,606 $ 478,422 $ - $ 6,126,028
Construction in progress 9,750,152 23,443,470 (16,458,400) 16,735,222
Total capital assets not depreciated 15,397,758 23,921,892 (16,458,400) 22,861,250
Capital assets depreciated:
Land improvements 212,925 - - 212,925
Buildings 68,507,779 11,779,712 - 80,287,491
Equipment 6,498,327 1,686,890 (808,169) 7,377,048
Infrastructure 84,254,978 - - 84,254,978
Total assets depreciated 159,474,009 13,466,602 (808,169) 172,132,442
Less accumulated depreciation for:
Land Improvements (212,925) - - (212,925)
Buildings (21,645,610) (706,989) - (22,352,599)
Equipment (4,282,455) (1,297,958) 844,952 (4,735,461)
Infrastructure (30,868,909) (2,457,364) - (33,326,273)
Total accumulated depreciation (57,009,899) $ (4,462,311) $ 844,952 (60,627,258)
Total capital assets depreciated, net 102,464,110 111,505,184
Business-type activities, capital assets, net $ 117,861,868 $ 134,366,434
F-21
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
TS (continued)
Depreciation was charged to functions/programs on the government-wide statement of activities of the
County as follows:
Governmental Activities: Business-Type Activities:
General Government $ 3,325,330 Municipal Service District-Waste $ 184,901
Public Safety 6,597,791 Card Sound Bridge 401,766
Physical Environment 6,529,109 Key West Airport 2,484,585
Transportation 2,430,075 Marathon Airport 625,974
Economic Environment 159,899
Human Services 353,050 Total Business-Type Activities $3,697,226
Culture and Recreation 231,341
Court-Related 1,241,220
$20,867,815
Total Governmental Activities
NEFITS OTHER THAN PENSION
General Information about the Other Post-Employment Benefits:
employer defined benefits healthcare plan (the
utes, requires the County to provide retirees and their eligible
dependents with the option to participate in the Plan if the County provides health insurance to its active
employees and their eligible dependents. The Plan provides medical coverage, prescription drug
benefits, and life insurance to both active and eligible retired employees. The Plan does not issue a
publicly available financial report. No assets are accumulated in a trust that meets the criteria as set forth
in GASB Statement No. 75.
The Board may amend the plan design, with changes to the benefits, premiums and/or levels of
participant contribution at any time. In an open session, on at least an annual basis and prior to the
annual enrollment process, the Board approves the rates for the coming calendar year for the retiree and
County contributions.
The Plan includes participants from the Board, each Constitutional Officer, and the MCLA. The Board
is responsible for funding all obligations not funded on a pay-as-you-go basis by Constitutional Officers
or the MCLA. However, the following disclosures ar
the net Other Post-Emp
reports its share of OPEB obligation.
F-22
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
OTHER THAN PENSION (continued)
tire as active participants in the Plan and were hired on or after
October 1, 2001 may continue to participate in the Plan by paying the monthly premium established
annually by the Board. Employees who retire as active participants in the Plan, were hired before
October 1, 2001, have at least ten years of full-time service with the County and meet the retirement
are not eligible for Medicare, may maintain group
insurance benefits with the County following retirement, provided that the retiring employee contributes
the amounts as shown in the following table.
(1)
Contribution as Percentage of Annual Actuarial Rate
Plan Years of Service with Monroe County
Year
25+ 20-24 10-19
(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, thation will be based on the
preceding table. Surviving spouses and dependents of participating retirees may continue in the Plan if
eligibility criteria specific to those classes are met.
An employee who retires as an active participant in the Plan, was hired prior to October 1, 2001, has at
least ten years of full-time service with the County, and meets the retirement criteria of the FRS and is
eligible for Medicare at the time of retirement or becomes eligible for Medicare following retirement,
may maintain group health insurance benefits with the County following retirement, provided the
retiring employee contributes the Actuarial Rate for Medicare retirees as determined by the actuarial
firm engaged by the County, less a $250 per month County subsidy. Alternatively, retirees meeting these
criteria may elect to leave the County health plan and receive a $250 per month payment from the
County, payable for the lifetime of the retiree.
Employees Covered by Benefit Term
limited to full time employees of the County and the Constitutional Officers. At September 30, 2021,
there were no terminated employees
medical plan consisted of:
F-23
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
OTHER THAN PENSION (continued)
Active Employees 1,273
Retirees and Beneficiaries Currently Receiving Benefits 425
Total Membership 1,698
hes, and may amend, the contribution requirements of Plan members.
The required contribution is based on pay-as-you-go financing requirements, net of member
contributions.
Total OPEB Liability:
ty of $60,034,000 was measured as of September 30, 2021, and was
determined by an actuarial evaluation as of October 25, 2021.
ation, dated October 25, 2021, was prepared using
generally accepted actuarial principles and practices, and relied on unaudited census data and medical
claims data reported by the Board.
The total OPEB liability for the Board in the September 30, 2021 actuarial valuation was determined
using the following actuarial assumptions and other inputs, applied to all periods included in the
measurement, unless otherwise specified:
Actuarial Cost Method Entry Age Normal based on level of percentage of
projected salary.
Inflation Rate 2.5% per annum
Salary Increase Rate 3.5% per annum
Discount Rate 2.21% per annum (Beginning of Year)
2.15% per annum (End of Year)
Source: Bond Buyer 20-Bond GO index
Marriage Rate The assumed percentage of married participants at
retirement is 25% and is based on the current
retired population of the County.
Spouse Age Spouse dates of birth were provided by the
County. Where this information was missing, male
spouses were assumed to be three years older than
female spouses.
F-24
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
OTHER THAN PENSION (continued)
Medicare Eligibility All current and future retirees were assumed to be
eli
gible for Medicare at age 65.
Amortization Method Experience/Assumptions gains and losses were
amortized over a closed period of 11.3 years
starting on October 1, 2019, equal to the average
remaining service of active and inactive plan
members (who have no future service).
Plan Participation Percentage The assumptions for participation of eligible
s postemployment benefit
plan are:
Retirees with 25+ Years of Service: 100%
Retirees with < 20 Years of Service: 25%
The actuarial assumptions include an annual health care cost trend rate of 5.5% initially, reduced by
decrements of 0.5% to an ultimate rate of 4.5%. The assumptions included a discount rate tied to the
return expected on the funds used to pay the benefits, and assumes for an unfunded plan, that the
benefits continue to be funded on a pay-as-you-go basis.
Mortality rates were based on the Pub-2010 projected forward using the SOA scale MP-19.
Expected retiree claim costs were developed using 24 months historical claim experience through May
2020. Non-claim expenses are based on the current amounts charged per retired employee.
Changes in the Total OPEB Liability:
Total OPEB
Liability
Balance at the beginning of the year $ 57,533,000
Changes for the year:
Service cost 3,177,500
Interest cost 1,314,800
Change in Experience -
Changes in assumptions or other inputs 404,700
Benefit payments (2,396,000)
Net change in total OPEB liability 2,501,000
Balance at the end of the year $ 60,034,000
F-25
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
OTHER THAN PENSION (continued)
Sensitivity of the Total OPEB Liabili
total OPEB liability of the Board, as well as what th
calculated using a discount rate that is 1-percentage-point lower (1.15 percent) or 1-percentage-point
higher (3.15 percent) than the current discount rate:
Current Discount
1% Decrease Rate 1% Increase
(1.15%) (2.15%) (3.15%)
Total OPEB Liability $69,639,000 $60,034,000 $54,030,000
Sensitivity of the Total OPEB Liability to Changes in
presents the total OPEB liability of the County, as well as what
be if it were calculated using a healthcare cost trend rates that are 1-percentage-point lower (4.5 percent
decreasing to 3.5 percent) or 1-percentage-point higher (6.5 percent decreasing to 5.5 percent) than the
current healthcare cost trend rates:
Healthcare Cost Trend Rates
1% Decrease Current Trend 1% Increase
(4.5% decreasing to (5.5% decreasing to (6.5% decreasing to
3.5%) 4.5%) 5.5%)
Total OPEB Liability $51,929,000 $60,034,000 $70,960,000
OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to
OPEB:
For the year ended September 30, 2021, the County recognized OPEB expense of $5,230,300. At
September 30, 2021, the County reported deferred outflows of resources and deferred inflows of
resources related to OPEB from the following sources:
Deferred Deferred
Outflows of Inflows of
Resources Resources
ges of Assumptions or Other Inputs 13,076,000 5,226,800
Chan
Total $ 13,076,000 $ 5,226,800
F-26
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
OTHER THAN PENSION (continued)
The amounts reported as deferred outflows of resources and deferred inflows of resources related to
OPEB will be recognized in OPEB expense as follows:
OPEB
For Fiscal Year: Amount
2022 $ 743,200
2023 743,200
2024 743,200
2025 731,800
2026 731,900
Thereafter 4,155,900
Total $ 7,849,200
General Information:
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
Florida Statutes, the FRS also provides a defined contri
FRS Pension Plan, which is administered by the Stat
rule, membership in the FRS is compulsory for all employees working in a regularly established position
for a state agency, county government, district school board, state university, community college, or a
participating city or special district within the State of Florida. The FRS provides retirement and
disability benefits, annual cost-of-living adjustments, and death benefits to plan members and
beneficiaries. Benefits are established by Chapter 121, Florida Statutes, and Chapter 60S, Florida
Administrative Code. Amendments to the law can be made only by an act of the Florida State
Legislature.
The State of Florida annually issues a publicly available financial report that includes financial
statements and required supplementary information for the FRS. The latest available report may be
obtained by writing to the State of Florida Division of Retirement, Department of Management Services,
P.O. Box 9000, Tallahassee, Florida 32315-9000, or from the Web site:
www.dms.myflorida.com/workforce_operations/retirement/publications.
F-27
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
RETIREMENT PLANS (continued)
Pension Plan:
is a cost-sharing multiple-employer defined benefit pension plan,
with a Deferred Retirement Option Progr
the Pension Plan are computed on the basis of age, average final
compensation, and service credit. For Pension Plan members enrolled before July 1, 2011, Regular class
members who retire at or after age 62 with at least six years of credited service or 30 years of service
regardless of age are entitled to a retirement benefit payable monthly for life, equal to 1.6% of their final
average compensation based on the five highest years of salary, for each year of credited service. Vested
members with less than 30 years of service may retire before age 62 and receive reduced retirement
benefits.
Special Risk Administrative Support class members who retire at or after age 55 with at least six years
of credited service or 25 years of service regardless of age are entitled to a retirement benefit payable
monthly for life, equal to 1.6% of their final average compensation based on the five highest years of
salary, for each year of credited service. Special Risk class members (sworn law enforcement officers,
firefighters, and correctional officers) who retire at or after age 55 with at least six years of credited
service, or with 25 years of service regardless of age, are entitled to a retirement benefit payable
monthly for life, equal to 3.0% of their final average compensation based on the five highest years of
salary for each year of credited service.
Senior Management Service class members who retire at or after age 62 with at least six years of
credited service or 30 years of service regardless of age are entitled to a retirement benefit payable
monthly for life, equal to 2.0% of their final average compensation based on the five highest years of
salary for each year of credited service.
re at or after age 62 with at least six years of credited service or
30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal
to 3.0% (3.33% for judges and justices) of their final average compensation based on the five highest
years of salary for each year of credited service.
For Plan members enrolled on or after July 1, 2011, the vesting requirement is extended to eight years of
credited service for all these members and increasing normal retirement to age 65 or 33 years of service
regardless of age for Regular, Senior Management Service, and Elected Officers
age 60 or 30 years of service regardless of age for Special Risk and Special Risk Administrative Support
class members. Also, the final average compensation for all these members will be based on the eight
highest years of salary.
F-28
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
RETIREMENT PLANS (continued)
As provided in Section 121.101, Florida Statutes, if the member is initially enrolled in the Pension
Plan before July 1, 2011, and all service credit was accrued before July 1, 2011, the annual cost-of-
living adjustment is three percent per year. If the member is initially enrolled before July 1, 2011,
and has service credit on or after July 1, 2011, there is an individually calculated cost-of-living
adjustment. The annual cost-of-living adjustment is a proportion of three percent determined by
dividing the sum of the pre-July 2011 service credit by the total service credit at retirement multiplied
by three percent. Plan members initially enrolled on or after July 1, 2011, will not have a cost-of-living
adjustment after retirement.
In addition to the above benefits, the DROP program allows eligible members to defer receipt of
monthly retirement benefit payments while continuing employment with a FRS employer for a period
not to exceed 60 months after electing to participate. Deferred monthly benefits are held in the FRS
Trust Fund and accrue interest. There are no required contributions by DROP participants.
all enrolled members of the FRS, other than DROP participants,
are required to contribute three percent of their salary to the FRS. In addition to member contributions,
governmental employers are required to make contributions to the FRS based on state-wide contribution
rates established by the Florida Legislature. These rates are updated as of July 1 of each year. The
employer contribution rates by job class for the periods from October 1, 2020 through June 30, 2021 and
from July 1, 2021 through September 30, 2021, respec
10.82%; Special Risk Administrative Suppor
nd 18.34%. These employer contribution rates include 1.66% HIS
Plan subsidy for the periods October 1, 2020 through June 30, 2021 and from July 1, 2021 through
September 30, 2021, respectively.
ributions, to the Pension Plan totaled $12,167,517
for the fiscal year ended September 30, 2021.
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
30, 2021, the County reported a liability of $24,009,850
net pension liability. The net pension liability was
measured as of June 30, 2021, and the total pension liability used to calculate the net pension liability
was determined by an actuarial valuation as of Ju
pension liability was based on the tive to the FY 2021 contributions
of all participating meoportionate share for all funds was
0.3178 percent, which was a decrease of 0.028 percent from its proportionate share measured as of June
30, 2020.
The contributions made after the meas
will be recognized as a reduction of
liability in the subsequent fiscal period rather than in the current fiscal period.
F-29
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
RETIREMENT PLANS (continued)
For the year ended September 30, 2021, of the $2,238,393 that the County recognized as a pension
benefit of $293,191 related to FRS pension expense. In addition, the County reported deferred outflows
of resources and deferred inflows of resources related to pensions from the following sources:
FRS Pension
Deferred Deferred
Outflows of Inflows of
Resources Resources
Differences Between Expected and Actual Experience $ 4,114,789 $ -
Changes of Assumptions 16,426,582 -
Net Difference Between Projected and Actual
Earnings on Pension Plan Investments - 83,753,383
Changes in Proportion and Differences Between
Pension Plan Contributions and Proportionate Share
of Contributions 5,200,117 10,087,428
Pension Plan Contributions Subsequent to
the Measurement Date 3,068,141 -
Total $ 28,809,629 $ 93,840,811
The deferred outflows of resources related to the Pension Plan $3,068,141, resulting from County
contributions to the Plan subsequent to the measurement date, will be recognized as a reduction of the
net pension liability in the fiscal year ended September 30, 2022. Other amounts reported as deferred
outflows of resources and deferred inflows of resources related to the Pension Plan will be recognized in
pension expense as follows:
FRS
For Fiscal Year: Amount
2022 $ (11,994,003)
2023 ( 13,986,116)
2024 ( 18,526,220)
2025 (23,740,054)
2026 147,070
Total $ (68,099,323)
F-30
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
RETIREMENT PLANS (continued)
ity in the June 30, 2021 actuarial valuation was
determined using the following actuarial assumption, applied to all periods included in the measurement:
Inflation 2.40%
Salary increases 3.25%, average, including inflation
Investment rate of return 6.80%, net of pension plan investment
expense, including inflation
Mortality rates were based on the PUB2010 base table which varies by member category and sex,
projected generationally with Scale MP-2018 detail are in the valuation report.
The actuarial assumptions used in the July 1, 2021, valuation were based on the results of an actuarial
experience study for the period July 1, 2013 through June 30, 2018.
The long-term expected rate of return remained at 6.80%, and the active member mortality assumption
was updated.
The long-term expected rate of return on Pension Plan investments was not based on historical returns,
but instead is based on a forward-looking capital market economic
description of each asset class was used to map the target allocation to the asset classes shown below.
Each asset class assumption is based on a consistent set of underlying assumptions and includes an
adjustment for the inflation assumption. The target allocation and best estimates of arithmetic and
geometric real rates of return for each major asset class are summarized in the following table:
Compound
Annual Annual
Target Arithmetic (Geometric) Standard
Asset Class Allocation Return ReturnDeviation
Cash 1.0% 2.1% 2.1% 1.1%
Fixed Income 20.0% 3.8% 3.7% 3.3%
Global Equity 54.2% 8.2% 6.7% 17.8%
Real Estate (Property) 10.3% 7.1% 6.2% 13.8%
Private Equity 10.8% 11.7% 8.5% 26.4%
Strategic Investments 3.7% 5.7% 5.4% 8.4%
Total 100.0%
used to measure the total pension liability was 6.80%. The Pension
ed to be available to make all projected future benefit payments
of current active and inactive employees. Therefore, the discount rate for calculation of the total pension
liability is equal to the long-term expected rate of return.
F-31
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
RETIREMENT PLANS (continued)
te Share of the Net Position (Asset) Liability to Changes in the
s proportionate share of the net pension (asset)
liability calculated using the discount rate of 6.80%, as well as what the proportionate share of the net
pension (asset) liability would be if it were calculated using a discount rate that is one percentage point
lower (5.80%) or one percentage point higher (7.80%) than the current rate:
FRS Net Pension Liability (Asset)
Current Discount
1% Decrease Rate 1% Increase
(5.80%) (6.80%) (7.80%)
nate Share of the
Net Pension Plan (Asset) Liability $ 107,359,624 $ 24,009,850 $( 45,666,977)
Pension Plan Fiduciary Net Position
position is available in the separately issued FRS Pension Plan and Other State-Administered Systems
Annual Comprehensive Financial Report.
HIS Plan:
ng multiple-employer defined benefit pension plan
established under Section 112.363, Florida Statutes, and may be amended by the Florida legislature at
any time. The benefit is a monthly payment to assist retirees of State-administered retirement systems in
paying their health insurance costs and is administered by the Florida Department of Management
Services, Division of Retirement.
ptember 30, 2021, eligible retirees and beneficiaries
received a monthly HIS payment of $5 for each year of creditable service completed at the time of
retirement, with a minimum HIS payment of $30 and a maximum HIS payment of $150 per month. To
be eligible to receive these benefits, a retiree under a State-administered retirement system must provide
proof of health insurance coverage, which may include Medicare.
contributions from FRS participating employers as
set by the Florida Legislature. Employer contributions are a percentage of gross compensation for all
active FRS members. For the fiscal year ended September 30, 2021, the HIS contribution for the period
October 1, 2020 through June 30, 2021 and from July 1, 2021 through September 30, 2021 was 1.66%
and 1.66%, respectively. The County contributed 100% of its statutorily required contributions for the
current and preceding three years. HIS Plan contributions are deposited in a separate trust fund from
which payments are authorized. HIS Plan benefits are not guaranteed and are subject to annual
legislative appropriation. In the event legislative appropriation or available funds fail to provide full
subsidy benefits to all participants, benefits may be reduced or cancelled.
F-32
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
RETIREMENT PLANS (continued)
e HIS Plan totaled $1,460,189 for the fiscal year ended September 30,
2021.
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
30, 2021, the County reported a liability of $31,306,155
for its proportionate share of the City. The net pension liability was
measured as of June 30, 2021, and the total pension liability used to calculate the net pension liability
was determined by an actuarial valuation as of Ju
pension liability was based on the tive to the FY 2021 contributions
of all participating members. At June 30, 2021, the e of all funds was 0.253
percent, which was a decrease of 0.003916 percent from its proportionate share measured as of June 30,
2020.
The contributions made after the meast pension liability but before the
in the subsequent fiscal period rather than in the current fiscal period.
For the year ended September 30, 2021, of the $2,238,393 that the County recognized as pension
expense, $2,500,384 related to HIS pension expense. In addition, these activities reported deferred
outflows of resources and deferred inflows of resources related to pensions from the following sources:
HIS Pension
Deferred Deferred
Outflows of Inflows of
Resources Resources
Differences Between Expected and Actual Experience $ 1,038,549 $ 12,999
Changes of Assumptions 2,438,748 1,278,769
Net Difference Between Projected and Actual
Earnings on HIS Plan Investments 32,355 -
Changes in Proportion and Differences Between
HIS Plan Contributions and Proportionate Share
of Contributions 2,135,494 1,142,081
HIS Plan Contributions Subsequent to
the Measurement Date 344,811 -
Total $ 5,989,957 $ 2,433,849
The deferred outflows of resources related to the HIS Plan, totaling $344,811, resulting from County
contributions to the HIS Plan subsequent to the measurement date, will be recognized as a reduction of
the net pension liability in the fiscal year ended September 30, 2022. Other amounts reported as deferred
outflows of resources and deferred inflows of resources related to the HIS Plan will be recognized as
pension expense in the enterprise and internal service funds as follows:
F-33
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
RETIREMENT PLANS (continued)
HIS
For Fiscal Year: Amount
2022 $ 884,499
2023 281,777
2024 581,386
2025 771,713
2026 577,153
Thereafter 114,769
Total $ 3,211,297
ity in the July 1, 2021, actuarial valuation was
determined using the following actuarial assumptions, applied to all periods included in the
measurement:
Inflation 2.40%
Salary increases 3.25%, average, including inflation
Municipal bond rate 2.21%
Mortality rates were based on the Generational RP-2010 with Projection Scale MP-2018 tables.
The actuarial assumptions used in the July 1, 2021, valuation were based on the results of an actuarial
experience study for the period July 1, 2013 through June 30, 2018.
The municipal rate used to determine total pension liability increased from 3.50% to 2.21%.
ed to measure the total pension liability was 2.16%. In general, the
discount rate for calculating the total pension liability is equal to the single rate equivalent to discounting
at the long-term expected rate of return for benefit payments prior to the projected depletion date.
Because the HIS benefit is essentially funded on a pay-as-you-go basis, the depletion date is considered
to be immediate, and the single equivalent discount rate is equal to the municipal bond rate selected by
the HIS Plan sponsor. The Bond Buyer General Obligation 20-Bond Municipal Bond Index was adopted
as the applicable municipal bond index.
service funds proportionate share
of the net pension liability calculated using the discount rate of 2.16%, as well as what the proportionate
share of the net pension liability would be if it were calculated using a discount rate that is one
percentage point lower (1.16%) or one percentage point higher (3.16%) than the current rate:
F-34
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
RETIREMENT PLANS (continued)
HIS Net Pension Liability
Current Discount
1% Decrease Rate 1% Increase
(1.16%) (2.16%) (3.16%)
of the Net HIS Plan Liability $ 35,880,801 $ 31,306,155 $ 27,067,050
Pension Plan Fiduciary Net Positi
position is available in the separately issued FRS Pension Plan and Other State-Administered Systems
Annual Comprehensive Financial Report.
Investment Plan:
The SBA administers the defined contribution plan officially titled the FRS Investment Plan. The
Investment Plan is reportts and in the State of Florida Annual
Comprehensive Financial Report.
As provided in Section 121.4501, Florida Statutes, eligible FRS members may elect to participate in the
Investment Plan in lieu of the FRS defined benefit plan. County employees participating in DROP
are not eligible to participate in the Investment Plan. Employer and employee contributions, including
amounts contributed to individual member's accounts, are defined by law, but the ultimate benefit
depends in part on the performance of investment funds. Benefit terms, including contribution
requirements, for the Investment Plan are established and may be amended by the Florida
Legislature. The Investment Plan is funded with the same employer and employee contribution rates
that are based on salary and membership class (Regular Class, Elected County Officers, etc.), as the
Pension Plan. Contributions are directed to individual member accounts, and the individual members
allocate contributions and account balances among various approved investment choices. Costs of
administering the Investment Plan, including the FRS Financial Guidance Program, are funded through
an employer contribution of 0.04% and 0.06% of payroll and by forfeited benefits of plan members
for the periods October 1, 2020 through June 30, 2021 and from July 1, 2021 through September 30,
2021, respectively. Allocations to the investment member's accounts during the FY2021, as
established by Section 121.72, Florida Statutes, are based on a percentage of gross compensation, by
class, as follows: Regular class 6.30%, Special Risk Administrative Support class 7.95%, Special Risk
class 14.00%, Senior Management Service class 7.67% and County Elected Officers class 11.34%.
F-35
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
RETIREMENT PLANS (continued)
For all membership classes, employees are immediately vested in their own contributions and are
vested after one year of service for employer contributions and investment earnings. If an
accumulated benefit obligation for service credit originally earned under the Pension Plan is
transferred to the Investment Plan, the member must have the years of service required for Pension
Plan vesting (including the service credit represented by the transferred funds) to be vested for these
funds and the earnings on the funds. Non-vested employer contributions are placed in a suspense
account for up to five years. If the employee returns to FRS-covered employment within the five-year
period, the employee will regain control over their account. If the employee does not return within the
five-year period, the employee will forfeit the accumulated account balance. For the fiscal year
ended September 30, 2021, the information for the amount of forfeitures was unavailable from the
SBA; however, management believes that these amounts, if any, would be immaterial to the County.
After termination and applying to receive benefits, the member may rollover vested funds to
another qualified plan, structure a periodic payment under the Investment Plan, receive a lump sum
distribution, leave the funds invested for future distribution, or any combination of these options.
Disability coverage is provided;the member may either transfer the account balance to the Pension Plan
when approved for disability retirement to receive guaranteed lifetime monthly benefits under the
Pension Plan or remain in the Investment Plan and rely upon that account balance for retirement
income.
taled $2,608,643 for the fiscal year ended September
30, 2021.
EER FIREFIGHTERS AND EMERGENCY
MEDICAL SERVICES
General Information about the Pension Plan:
unteer Firefighter and Emergency Medical Services
ngle-employer public employee retirement system
defined benefit pension plan created in 1999 and administered by the Board. LOSAP provides
retirement and death benefits to plan members and beneficiaries. Monroe County Ordinance 026-1999
defines the authority under which contribution and benefit provisions may be amended. This authority is
presently held by the Board. LOSAP shall be administered in accordance with the requirements of
Chapter 112, Part VII, Florida Statutes. Amounts
reported on the government-wide financial statements of the County, rather than on the financial
statements of the Board.
Firefighters and EMS Vo
sole discretion of the LOSAP Administrator. Any Volunteer who was age 60 or older on January 1,
1999 shall not be eligible to participate. In addition, any Volunteers who are age 60 or older at the time
they commence volunteer service, or who commence service at a time that will not permit them to earn
ten years of service by their Normal Retirement Age, shall not be eligible to participate in this Plan.
F-36
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
EER FIREFIGHTERS AND EMERGENCY
MEDICAL SERVICES (continued)
Volunteer Firefighters must attain the rank of Structural Firefighter, Non-Structural Firefighter, and or
Emergency Vehicle Driver-Operator prior to being credited with ten years of service. EMS Volunteers
must meet all requirements as defined by the State of Florida necessary to drive an emergency medical
care and transportation vehicle (ambulance) and/or attain certification as an Emergency Medical
Technician or Paramedic prior to being credited with ten years of service. Eligibility for vesting is
completion of ten years of service. LOSAP shall be administered in accordance with the requirements of
Chapter 112, Part VII, Florida Statutes.
For each year of Volunteer service, a participant will accrue a year of benefit accrual if the participant
was enrolled as a member of the nonprofit corporation or municipal service
was eligible for and received reimbursement of expenses for nine or more months of the year.
Volunteers are vested after completion of ten years of service prior to attainment of normal retirement
age. Eligible Volunteers can receive an annual benefit of $1,800 for ten years of service up to $4,500 for
25 years of service.
Employees Covered by Benefit Teof which 3 are active, 11 are
inactive, and 11 are retired members for the plan
year ending September 30, 2021. Separate, stand-alone financial statements for LOSAP are not
provided.
nefits are calculated based on years of service. As the participants
are unpaid volunteers, there is no related covered payroll and no unfunded actuarial accrued liability as a
percentage of covered payroll.
For each LOSAP Plan Year, the Board shall appropriate funds from the budgets of the various
fire/rescue MSTU's. These funds will be applied as a contribution to the LOSAP trust account in an
amount as determined by the Plan Administrator as is necessary to fund the accrued or prospective
benefits for Participants on an actuarially sound basis and in accordance with Part VII of Chapter 112,
Florida Statutes. There are no participant contribution requirements. The authority under which those
obligations are established is the Monroe County Ordinance No. 026-1999.
Net Pension Liability:
January 1, 2021 and the total pension liability used
to calculate the net pension liability was determined by an actuarial valuation as of that date.
ssumptions used to compute the pension benefit
obligation in the January 1, 2021 valuation for the period of January 1, 2020 through December 31, 2020
were:
F-37
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
EER FIREFIGHTERS AND EMERGENCY
MEDICAL SERVICES (continued)
1. Investment Yield: 1.0% for both present and future
2. Mortality Pattern: Not applicable
3. Salary Increases: Not applicable; Benefits not based on salary
4. Select & Ultimate Table, with 50% termination probability for
YOS<1
5. Inflation: No increase as benefits are based on a flat amount per year of service
The projection of cash flows used to determine the discount rate assumed that plan member
contributions will be made at the applicable current contribution rates and that Board contribution will
be made at rates equal to the difference between actuarially determined contributions and member
contributions. Based on those assumptions, the fiduciary net position for the LOSAP pension plans was
projected to be available to make all projected future benefit payments of current plan members.
Therefore, the long-term expected nts was applied to all periods of
projected benefit payments to determine the total pension liability for each plan.
Summary of Significant Accents of LOSAP are prepared using
the modified accrual basis of accounting. The contributions are recognized when they become
susceptible to accrual; when they become both measurable and available. Benefits are recognized in the
accounting period in which the related fund liability is incurred in accordance with the terms of LOSAP.
Administrative costs are paid by the Board. Actuarial valuation costs are paid by LOSAP. All plan
investments are reported at fair value.
The resources in the LOSAP fund have been set aside to pay future obligations of the LOSAP but are
not held in a trust that meets the criteria outlined in GASB Statement No. 67, paragraph 3 and GASB
Statement No. 68, paragraph 4.
d investments and are held in accordance to the
investment policy included in Note 1. All plan investments consist of U.S. Government and U.S.
Government-guaranteed obligations which represent more than 5.0% of the net position available for
benefits. There are no investments in, loans to or leases with any public employee retirement system
official, government employer official, party related to a public employee retirement system official or
government employer official, nonemployee contributor, or organization included in the reporting entity.
used to measure the total pension liability was 1.00% (no change
from the prior measurement period). The projection of cash flows used to determine the discount rate
assumed that employee contributions will be made at
contributions will be made at rates equal to the difference between actuarially determined contribution
rates and the employee rate. Based on those assumptions, the pension
to be available to make all projected future benefit payments of current active and inactive employees.
Therefore, the long-term expected rate of return on pension plan investments was applied to all periods
of projected benefit payments to determine the total pension liability.
F-38
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
EER FIREFIGHTERS AND EMERGENCY
MEDICAL SERVICES (continued)
Changes in Total LOSAP Pension Liability:
Total LOSAP
Pension Liability
y 1, 2020 $ 718,133
Balance at Januar
Changes for the year:
Service cost (24,610)
Interest cost 6,890
Differences Between Expected and Actual Experience (61,382)
Benefit payments (34,680)
ge in total LOSAP pension liability (113,782)
Net chan
Balance at December 31, 2020 $ 604,351
Sensitivity of the Net Pension Liability The following table presents
the net pension liability of LOSAP, using the current
pension liability would be if it were calculated using a discount rate that is 1-percentage point lower or
1-percentage point higher than the current rate.
Current
1% Decrease Discount Rate 1% Increase
(0.00%) (1.00%) (2.00%)
Net LOSAP Pension Liability $ 584,755 $ 604,351 $ 503,587
Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related
to Pensions:
For the year ended September 30, 2021, of the $2,238,393 that the County recognized as pension
expense, $31,200 related to LOSAP pension expense. At September 30, 2021, the Board reported
deferred outflows of resources and deferred inflows of resources related to pensions from the following
sources, which will be amortized in future periods on substantially a straight-line basis:
Deferred Deferred
Outflows of Inflows of
Resources Resources
Net Difference Between Projected and Actual Earnings on
LOSAP Pension Plan Investments $ 3,013 $ -
F-39
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
The aggregate amount of net pension and OPEB liabilities, related deferred outflows of resources and
deferred inflows of resources and expense for the defined benefit pension plan, the
service award plan for volunteer firefighters and emergency medical services (LOSAP program), and the
PensionHISLOSAPTotal forCounty's
PlanPlanProgramPension ProgramsOPEBTotal
Net liabilities $ 24,009,850 $ 31,306,155 $ 604,351 $ 55,920,356 $ 60,034,000 $ 115,954,356
Deferred
outflows of 28,809,629 5,989,957 3,013 $ 34,802,599 13,076,000 $ 47,878,599
resources
Deferred inflows
93,840,811 2,433,849 - $ 96,274,660 5,226,800 $ 101,501,460
of resources
Expense 293,191 2,500,384 31,200 $ 2,824,775 5,230,300 $ 8,055,075
SIGNIFICANT COMMITMENTS
Construction projects and significant commitments, excluding encumbrances reported below, under
present contractual agreements as of September 30, 2021 are as follows:
Plantation Key Courthouse & Detention Center $ 7,138,113
st
1 & Bertha Avenue Improvements 3,887,873
Bimini Drive Bridge 3,002,876
Marathon Airport Terminal Re-roof 1,533,047
k 1,356,597
Harbor/Seaview Bridge 1,064,667
Big Pine Swim Hole 1,013,761
Non-Aeronautical Building/Emergency Operations Center 817,697
Pigeon Key Fire Suppression 719,542
Sea Level Rise 611,786
Roads Vulnerability Analysis 484,231
Marathon Airport Tree Clearing Mitigation 349,104
Key West Airport Airfield Improvements 322,113
Key West Airport Taxiway A Rehabilitation 307,734
Jefferson B Browne Parapet Demolition 288,815
Key West Airport Maintenance Building 269,176
Cudjoe Fire Station 255,870
Big Pine Key Koehn Subdivision 253,905
Pigeon Key Commissary/Honeymoon Cottage 251,600
Other Projects (less than $250,000) 1,425,660
Total $ 25,354,167
F-40
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
ICANT COMMITMENTS (continued)
Significant encumbrance commitments at September 30, 2021 are as follows:
Encumbrances
Governmental Activities:
General Fund $ 44,238
Fine & Forfeiture Fund 222,111
Road & Bridge Fund 587,317
Governmental Grants Fund 698,059
One Cent Infrastructure Surtax 15,032
Infrastructure Revenue Bonds Series 2014 736,752
Nonmajor Governmental Funds 75,813
Total Governmental Activities 2,379,322
Business-Type Activities:
Key West Airport 86,176
Marathon Airport 110,797
Total Business-Type Activities 196,973
Total Encumbrances $ 2,576,295
The County leases office space, equipment, and debris removal staging sites under operating lease
agreements. Total lease payments made in the year ended September 30, 2021 were $7,049,655. The
following is a schedule by years of future minimum rentals under noncancelable operating leases for the
fiscal year ended September 30:
2022 $ 5,197,710
2023 4,586,409
2024 4,308,341
2025 4,141,864
2026 1,019,296
2027-2030 1,746,568
Total $ 21,000,188
F-41
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
Long-term debt activity for the year ended September 30, 2021 is as follows:
x
Current Portion
BeginningEndingof Long-term
BalancesAdditionsPaymentsBalancesLiabilities
Governmental Activities:
Revenue Bonds From Direct Borrowings30,310,000$ -$ 4,780,000$ 25,530,000$ 4,890,000$
Revenue Notes From Direct Borrowings151,847,440 - 12,302,120 139,545,320 7,396,328
Mayfield Agreement (KLWTD)11,000,000 - 2,125,000 8,875,000 2,125,000
Accrued Comp. Absences15,117,653 3,176,718 2,980,611 15,313,760 3,023,530
OPEB Liability56,554,000 23,195,700 20,739,700 59,010,000 -
Pension Liability - FRS & HIS174,253,276 - 122,176,829 52,076,447 -
Pension Liability - LOSAP718,133 6,890 120,672 604,351 -
Total Governmental Activities439,800,502 26,379,308 165,224,932 300,954,878 17,434,858
Business-Type Activities:
Revenue Notes from Direct Borrowings- 748,000 748,000 748,000
Accrued Comp. Absences630,925 320,297 367,023 584,199 116,840
OPEB Liability979,000 734,600 689,600 1,024,000 -
Pension Liability - FRS & HIS6,996,736 - 4,027,177 2,969,559 -
Total Business-Type Activities8,606,661 1,802,897 5,083,800 5,325,758 864,840
Total Long-Term Debt448,407,163$ 28,182,205$ 170,308,732$ 306,280,636$ 18,299,698$
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.
are liquidated by the funds to which the related
employee services relate.
The Group Insurance Internal Service Fund assesses a monthly premium per employee in each fund. The
monthly premiums paid by the various funds provide the resources necessary to liquidate the other
postemployment benefit obligations paid in the current year by the Group Insurance Internal Service
Fund.
F-42
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
DEBT (continued)
The following summary reflects as of September 30, 2021:
Governmental Activities
Revenue Bonds From Direct Borrowin
gs:
Infrastructure Sales Surtax Revenue Bonds, Series 2014 $ 12,260,000
Infrastructure Sales Surtax Refunding Bond, Series 2016 13,270,000
Total Revenue Bonds From Direct Borrowings 25,530,000
Revenue Notes From Direct Borrowings:
Clean Water State Revolving Fund Construction Loan Agreement 2010 5,146,369
Clean Water State Revolving Fund Construction Loan Agreement 2014 130,838,951
Special Obligation Refunding Revenue Note, Series 2020 Project 3,560,000
Total Revenue Notes From Direct Borrowings 139,545,320
Mayfield Agy Largo Wastewater Treatment District 8,875,000
Total Government Debt $ 173,950,320
Business-Type Activities
Revenue Notes From Direct Borrowings:
Key West International Airport $10 Million Revolving Line of Credit $ 748,000
Total Business-Type Activities Debt $ 748,000
Debt Service Funding Requirements requirements for bonds and notes
Long-term debt at September 30, 2021 is composed of the following issues:
Governmental ActivitiesBusiness-Type Activities
PrincipalInterestTotalPrincipalInterestTotal
2022 $ 14,411,328 $ 4,093,206 $ 18,504,534 $ 748,000 $ 509 $ 748,509
2023 14,699,105 3,801,342 18,500,447 - - -
2024 15,001,511 3,502,328 18,503,839 - - -
2025 15,308,666 3,195,841 18,504,507 - - -
2026 12,675,701 2,910,457 15,586,158 - - -
2027-2031 38,402,412 11,131,776 49,534,188 - - -
2032-2036 40,902,684 5,994,717 46,897,401 - - -
2037-2041 22,548,913 899,788 23,448,701 - - -
Total Required Debt Service $ 173,950,320 $ 35,529,455 $ 209,479,775 $ 748,000 $ 509 $ 748,509
F-43
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
DEBT (continued)
Long-term debt at September 30, 2021 is composed of the following issues:
$31,885,000 Florida Infrastructure Sales Surtax Improvement and Refunding Revenue Bonds, Series
2014
Type: General Government Revenue Bonds
Dated: October 2014
Final maturity: Year 2024
Principal payment date: April 1
Interest payment dates: April 1 and October 1
Interest rate: 2.36%
Amount outstanding at September 30th: $12,260,000
Reserve requirement: None; MBIA insured.
Revenue pledged: All of the One Cent Local Government Infrastructure Sales Surtax accruing to
Monroe County. The total principal and interest remaining to be paid is $12,843,274. For the
fiscal year, principal and interest paid was $4,281,376 and total pledged revenue was
$28,658,729.
Purpose: To construct and acquire equipment and capital improvements.
Call provisions: None
$19,500,540 Clean Water State Revolving Fund Construction Loan Agreement
Type: General Government Revenue Notes
Dated: April 2010
Final maturity: Year 2030
Principal payment date: March 15 and September 15
Interest payment dates: March 15 and September 15
Interest rate: 2.71%
Amount outstanding at September 30th: $5,146,369
Reserve requirement: None
Revenue pledged: Non-Ad Valorem Revenues in the General Fund, the Fine and Forfeiture Fund
and the Unincorporated Area Service District Funds. The total principal and interest remaining to
be paid is $5,796,475. For the fiscal year, principal and interest paid was $681,938 and total
pledged revenue was $58,863,540.
Purpose: Refund temporary financing for wastewater capital improvements.
Call provisions: None
Clean Water State Revolving Fund Construction Loan Agreement
The State awarded a total of $127,200,000 (original award plus seven amendment awards) for
collection, transmission and treatment facilities under the State Revolving Fund loan program.
During the year ended September 30, 2021, the ninth award amendment suspended the June
2020 and the December 2020 loan payments (each totaling $4,502,451 principal and interest)
because of the uncertain impact the C
infrastructure sales surtax revenue.
F-44
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
DEBT (continued)
Clean Water State Revolving Fund Construction Loan Agreement (continued)
Interest rate: various interest rates (2.35% - 3.07%) as of September 30, 2019
Final maturity: Year 2038
Principal payment dates: June 15 and December 15
Interest payment dates: June 15 and December 15
Amount outstanding as of September 30th: $130,838,951
Reserve requirement: None
Revenue pledged: One Cent Local Government Infrastructure Sales Surtax and Cudjoe Regional
Wastewater special assessments. The total principal and interest remaining to be paid is
$164,140,912. For the fiscal year, principal and interest paid was $4,689,740 and total pledged
revenue was $31,037,733.
Purpose: Financing for wastewater capital improvements.
Call provisions: None
$16,065,000 Infrastructure Sales Surtax Refunding Revenue Bond, Series 2016
Type: General Government Refunding Revenue Bond
Dated: September 2016
Final maturity: Year 2026
Principal payment date: April 1
Interest payment dates: April 1 and October 1
Interest rate: 1.69%
Amount outstanding at September 30th: $13,270,000
Reserve requirement: None; MBIA insured.
Revenue pledged: All of the One Cent Local Government Infrastructure Sales Surtax accruing to
Monroe County. The total principal and interest remaining to be paid is $14,164,771. For the
fiscal year, principal and interest paid was $1,118,891 and total pledged revenue was
$28,658,729.
Purpose: To construct and acquire equipment and capital improvements.
Call provisions: None
$17,000,000 Mayfield Interlocal Agreement
Type: Interlocal Agreement
Dated: May 2015
Final maturity: Year 2026
Principal payment date: April 1
Interest payment dates: April 1
Interest rate: N/A
Amount outstanding at September 30th: $8,875,000
Reserve requirement: None
Revenue pledged: One Cent Local Government Infrastructure Sales Surtax. The total principal
remaining to be paid is $8,875,000. For the fiscal year, principal paid was $2,125,000 total
pledged revenue was $28,658,729.
F-45
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
DEBT (continued)
$17,000,000 Mayfield Interlocal Agreement (continued)
Purpose: Capital improvements with respect to Cudjoe Regional Wastewater Project
Call provisions: None
See Note 14 for additional information related to this agreement.
Series 2020 Special Obligation Refunding Revenue Note
Final maturity: Year 2025
Principal payment date: April 1
Interest payment dates: April 1 and October 1
Interest rate: 1.11%
Amount outstanding at September 30th: $3,560,000
Reserve requirement: None
Revenue pledged: Non-Ad Valorem Revenues in the General Fund, the Fine and Forfeiture
Fund, the Unincorporated Area Service District Funds. The total principal and interest remaining
to be paid is $3,659,345. For the fiscal year, there were no principal and interest and total
pledged revenue was $58,863,540.
Purpose: Acquisition, installation, and implementation of Enterprise Resources Planning system.
Call provisions: None
Series 2021 Monroe County, Florida Taxable Master Airport Revenue Note Line of Credit
Final maturity: June 30, 2023
Principal payment date: Principal of all draws are due and payable on the final maturity date.
Interest payment dates: Payable quarterly in arrears on the first day of January, April, July, and
October of each year.
Interest rate: Lesser of (i) the greater of (A) the Prime Rate plus 3% annum, or (B) the Overnight
Bank funding Rate plus 3.5% per annum, or (C) 7% per annum, or (ii) the maximum rate
permitted by law.
Amount outstanding at September 30th: $748,000. Loan amount not to exceed $10,000,000.
Reserve requirement: None
Revenue pledged: Eligible Passenger Facility Charge (PFC) Revenues in accordance with the
PFC Act and the PFC Authority. For the fiscal year, no principal or interest was paid, and total
pledged revenue was $2,841,935.
Purpose: Projects and capital improvements for the Key West International Airport.
Call provisions: None
F-46
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
AGREEMENT EXPENSE
Administered by the Florida Department of Environm
the result of the State of Florida authorizing up
wastewater entities to complete central sewer and related projects.
In May 2015, Monroe County and Key Largo Wastewate
Monroe County in exchange for the County repaying those funds over a 10-year period.
As a result of the signed ILA in 2015 between Monroe County and KLWTD, FDEP sent Monroe
County an amendment to the Mayfield Grant in FY 2014-15 to add the $17 million reallocated funds to
the grant agreement between FDEP and Monroe County. The amendment: (1) provided the County an
additional $17 million in Mayfield grant funding; (2) reallocated the project budget and; (3) extended
the date of the completion of the project.
Similarly, during the 2016 legislative session, the Florida Legislature appropriated $5 million for water
quality projects under the Florida Keys Stewardship Act. Of the $5 million, $1.25 million was awarded
to the KLWTD and they subsequently voted to have Monroe County use its 2016 allotment. In turn,
FDEP sent Monroe County an amendment to the Mayfield Grant in FY 2016-17 to add the $1.25 million
reallocated fund to the grant agreement between FDEP and Monroe County. Monroe County entered
into the grant agreement with FDEP in FY 2016-17 and received the $1.25 million in FY 2017-18.
The ILA created transactions with two separate parts 1) a grant between FDEP and Monroe County and
2) a long-term liability payable to KLWTD from Monroe County. For part one, Monroe County
recorded grant revenue, which was a reimbursement for capital expenditures already incurred in the
Cudjoe Regional Wastewater fund. For part two, the County recorded a long-term liability on the
government-wide financial statements, which represents funding the County is obligated to pay
KLWTD as a result of the ILA. The offset to this liability was an interlocal agreement expense which
represents the value of Monroe Cield Grant revenue forfeited by
KLWTD.
F-47
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
During the course of operations, transactions occur which result in amount owed to a particular fund by
another fund, other than for goods provided or services rendered. The receivables and payables are due
on the governmental funds
balance sheet or proprietary fund statement of net position.
Among these interfund transactions during FY 2021 included the Governmental Grants fund transferred
$2,337,893 to various funds during the fiscal year to distribute CARES funding received from the
federal government for the purposes of payi
Interfund balances as of September 30, 2021 were as follows:
Receivable Fund Payable Funds Amount
General Fund Governmental Grants $ 507,006
Debt Service 19,758
One Cent Infrastructure Surtax 8,194
Infrastructure Revenue Bonds Series 2014 2,368
Group Insurance 1,614
Nonmajor Governmental 1,256,122
Fine and Forfeiture General Fund 1,479,625
One Cent Infrastructure Surtax 316,301
Governmental Grants 36,566
Governmental Grants One Cent Infrastructure Surtax 179,066
Nonmajor Governmental 7,873
One Cent Infrastructure Surtax Governmental Grants 132,864
Debt Service 256,800
Cudjoe Regional Wastewater General Fund 3,155
Nonmajor Funds General Fund 766,982
Fine and Forfeiture 1,910
HIDTA Gran
t 1,161,111
Governmental Grants 1,778,185
One Cent Infrastructure Surtax 21,945
Nonmajor Governmental 1,104,747
Key West International Airport General Fund 198,329
Nonmajor Governmental 2,141
Marathon Airport General Fund 576
Governmental Grants 10,737
Municipal Service District Waste General Fund 4,210
Governmental Grants 6,026
Card Sound Bridge Governmental Grants 5,586
Internal Service Funds General Fund 262,776
Governmental Grants 52,365
F-48
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
Interfund transfers at September 30, 2021 are as follows:
Transfers to General Fund from:
One Cent Infrastructure Surtax Fund $ 533,877
Fine & Forfeiture Fund 51,264,050
Governmental Grants 420,599
Municipal Service District Waste 235,202
Card Sound Brid
ge Fund 79,776
t 137,385
Marathon Airpor
Key West Airport 477,280
Internal Service Funds 261,656
Nonmajor Governmental Funds 5,961,045
Total Transfers to General Fund 60,370,870
Transfers to Fine and Forfeiture Fund from:
General Fund 847,579
Governmental Grants Fund 36,566
Nonmajor Governmental Funds 609,249
Total Transfers to Find & Forfeiture Fund 1,493,394
Transfers to Governmental Grant Fund from:
General Fund 310,055
Fine and Forfeiture Fund 11,944
One Cent Infrastructure Surtax Fund 282,677
Nonmajor Governmental Funds 254,163
Total Transfers to Governmental Grant Fund 858,839
Transfers to One Cent Infrastructure Surtax Fund from:
Governmental Grants Fund 27,828
Nonmajor Governmental Funds 305,836
Total Transfers to One Cent Infrastructure Surtax Fund 333,664
Transfers to Infrastructure Revenue Bonds Series 2014 Fund from:
One Cent Infrastructure Sales Surtax Fund 9,895,000
Transfers to Cudjoe Regional Wastewater Project Fund from:
General Fund 3,154
Transfers to Debt Service Fund from:
General Fund 462,570
Governmental Grant Fund 8,482,873
One Cent Infrastructure Surtax Fund 10,089,512
Cudjoe Regional Wastewater Project Fund 2,125,740
Key West Airport 2,958
Municipal Service District Waste 318,908
Nonmajor Governmental Funds 681,999
Total Transfers to Debt Service Fund 22,164,560
Transfers to Nonmajor Governmental Funds from:
General Fund 371,529
Governmental Grants 1,778,185
Nonmajor Governmental Funds 8,404,370
Total Transfers to Nonmajor Governmental Funds 10,554,084
Transfers to Proprietary Funds from:
Governmental Grants $74,714
Nonmajor Governmental Grants 4,205
Total Transfers to Business Type Funds 78,919
Total Interfund Transfers $ 105,753,484
F-49
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
SFERS (continued)
The One Cent Infrastructure Sales Surtax Fund, a major fund, transferred almost $9,895,000 to the
Infrastructure Revenue Bonds Series 2014 Fund to provide continued financing for various capital
projects such as the Plantation Key Courthouse and the Marathon Library. The Board approved
transferring $305,836 for funding the completion of the Long Key Wastewater project.
The One Cent Infrastructure Surtax Fund also transferred $10,089,512 to the Debt Service Fund to repay
s Surtax Improvement Series 2014 Revenue Bond, the Infrastructure
Sales Surtax Series 2016 Revenue Bond, and the debt related to the Mayfield Interlocal Agreement.
The Cudjoe Regional Wastewater Project transferred $2,125,740 to the Debt Service Fund to repay its
Clean Water State Revolving Fund Construction Loan. Similarly, the Big Coppitt Wastewater Project
transferred $681,999 to the Debt Service Fund for the repayment of debt related to this project. During
FY 2021, the Key West International Airport transferred $2,958 to the Debt Service Fund to pay for debt
service costs related to obtaining a $10 million revolving line of credit to finance the building of a new
concourse.
The Governmental Grants fund transferred $2,337,893 to various funds during the fiscal year to
distribute CARES funding received from the federal government for the purposes of paying for
to the pandemic. Fund transferred $2,500,000 to the
an Enterprise Resources Planning (ERP) system.
The Governmental Grants Fund transferred $8,482,873 and the Municipal Serv
transferred $318,908 to the Debt Service Fund to repay the Revenue Bond Series 2019 loan for
om Hurricane Irma. The funds transferred were grant proceeds and
insurance recoveries received during the fiscal year from the FEMA related to Hurricane Irma.
Transfers were made to the Governmental Grants Fund of $858,839 during the fiscal year. The General
Fund transferred $79,576 to meet match requirements for pandemic-related grant and $102,633 to pay
for expenditures related to Tropical Storm Eta. The General Fund also financed cost share requirements
of $16,188 for a FEMA grant, $13,666 for various Social Services-related grants, and $97,993 for the
Pigeon Key Ferry Service grant. In addition, $34,602 was transferred from the Environmental
Restoration Fund to the Governmental Grants Fund to meet match requirements for exotic plan removal;
$3,131 was transferred from the Boating Improvement Fund for derelict vessels; and $600 was
transferred from the Fire & Ambulance District 1 Fund for a grant related to emergency medical
services. The Fine and Forfeitures Fund transferred $11,944 to meet its funding requirements for drug
counseling grants.
The One Cent Infrastructure Surtax Fund transferred $282,677 to the Governmental Grants Fund for the
st
cost share portion of the 1 and Bertha Streets Project while the Unincorporated Area Service District,
Planning, Building, and Zoning Fund transferred $67,466 for funding the Transportation Planning
Program. The Government Grants Fund receive
District One to pay match requirements for the Division of Historical Resources Grant for the Monroe
County Historic Jail project.
The remaining transfers are related
F-50
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
BALANCE CLASSIFICATIONS
Fund Balances are presented in the following categories; non-spendable, restricted, committed, assigned
and unassigned (see Note 1 for a description of these categories). A detailed schedule of governmental
fund balances at September 30, 2021 is presented below:
One Cent
Fine & Governmental Infrastructure
General Forfeiture Grants Surtax
Fund Balance:
Non-spendable:
Inventory $ 22,521 $ - $ - $ -
Total Non-spendable 22,521 - - -
Restricted for:
Law Enforcement - 16,571,522 - -
Fire & Ambulance - - - -
Public Safety - - - -
Physical Environment - - - -
Transportation - - - -
Housing Programs - - - -
Tourist Development - - - -
Human Services - - - -
Libraries - - - -
Library Donations - - - -
Culture & Recreation - - - -
Court Programs - - - -
Comprehensive Planning - - - -
Federal & State Grants - - - -
Wastewater Projects - - - -
Other Purposes - - - -
Debt Service - - - -
Capital Projects - - - 27,309,988
Total Restricted - 16,571,522 - 27,309,988
Committed to:
Disaster Recovery 10,000,000 - - -
Physical Environment - - - -
Sheriff Contract Administration - - - -
Wastewater Projects - - - -
Beach Re-nourishment - - - -
Health Care - - - -
Total Committed 10,000,000 - - -
Assigned to:
Other Purposes 44,238 - - -
Fire & Ambulance - - - -
Subsequent Year Expenditures 10,013,788 - - -
Total Assigned 10,058,026 - - -
Unassigned 22,926,844 - (4,622,482) -
Total Fund Balances $ 43,007,391 $ 16,571,522 $ (4,622,482) $ 27,309,988
F-51
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
FUND BALANCE CLASSIFICATIONS (continued)
Cudjoe
Infrastructure Regional All Debt Nonmajor Total
Revenue Bonds Wastewater Service Governmental Governmental
d Funds Funds
Series 2014 Project Fun
Fund Balance:
Non-spendable:
Inventory $ - $ - $ - $ - $ 22,521
Total Non-spendable - - - - 22,521
Restricted for:
Law Enforcement - - - 14,353,780 30,925,302
Fire & Ambulance - - - 1,595,024 1,595,024
Public Safety - - - 5,341,749 5,341,749
Physical Environment - - - 4,041,800 4,041,800
Transportation - - - 9,384,730 9,384,730
Housing Programs - - - 2,118,016 2,118,016
Tourist Development - - - 69,921,387 69,921,387
Human Services - - - 47,600 47,600
Libraries - - - 172,762 172,762
Library Donations - - - - -
Culture & Recreation - - - 2,697,118 2,697,118
Court Programs - - - 10,578,377 10,578,377
Comprehensive Planning - - - 4,296,892 4,296,892
Federal & State Grants - - - - -
Wastewater Projects - 4,703,405 - 2,588,523 7,291,928
poses - - - 690,595 690,595
Other Pur
Debt Service - - 3,182,395 - 3,182,395
Capital Projects 4,804,886 - - 1,260,153 33,375,027
Total Restricted 4,804,886 4,703,405 3,182,395 129,088,506 185,660,702
Committed to:
Disaster Recovery - - - - 10,000,000
Physical Environment - - - 4,690,219 4,690,219
Sheriff Contract Admin - - - 1,337,403 1,337,403
Wastewater Projects - - - 372,474 372,474
Beach Re-nourishment - - - 227,242 227,242
Total Committed - - - 6,627,338 16,627,338
Assigned to:
Other Purposes - - - - 44,238
Fire & Ambulance - - - 6,169,529 6,169,529
Subsequent Year Expense - - - - 10,013,788
Total Assigned - - - 6,169,529 16,227,555
Unassigned - - - (27,513) 18,276,849
Total Fund Balances $ 4,804,886 $ 4,703,405 $ 3,182,395 $ 141,857,860 $ 236,814,965
F-52
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
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
Management Funds, respectively, as internal service funds to account for and finance its uninsured risks
of loss.
s self-insured coverage up to the first $500,000
claims in excess of the self-insured coverage
of $500,000 are covered by an excess insurance policy. The Group Insurance Fund provides self-insured
excess claims. Risk Management has a $5,000,000 excess insurance policy for general liability claims
with a $200,000 self-insured retention and building property damage is covered for the actual value of
the building with a deductible of $50,000. Deductibles for windstorm and flood vary by location. The
Board purchases commercial insurance for claims in excess of coverage provided by the funds and for
all other risks of loss. Settled claims have not exceeded this commercial coverage in any of the past
three years.
All funds of the County participate in the programs and make payments
Group Insurance and Risk Management Funds based on of the amounts needed
to pay prior and current year claims. The claims liabilities reported are based on the requirements of
Governmental Accounting Standards Board Statement No. 10, which requires that a liability for claims
be reported if information prior to the issuance of the financial statements indicates that it is probable
that a liability has been incurred at the date of the financial statements and the amount of the loss can be
reasonably estimated. These claim liabilities have not been discounted.
Changes in the claim liability amounts in fiscal years 2021 and 2020 were:
Group Risk
Compensation Insurance Management Total
Unpaid Claims at Sept. 30, 2019 $ 1,333,516 $ 1,121,259 $ 646,670 $ 3,101,445
Incurred Claims
(Including IBNR) 2,169,013 14,933,097 502,258 17,604,368
Claim Payments (1,862,141) (14,991,833) (468,918) (17,322,892)
Unpaid Claims at Sept. 30, 2020 1,640,388 1,062,523 680,010 3,382,921
Incurred Claims
(Including IBNR) 1,678,053 17,423,291 890,192 19,991,536
Claim Payments (1,775,139) (17,434,467) (716,992) (19,926,598)
Unpaid Claims at Sept. 30, 2021 $ 1,543,302 $ 1,051,347 $ 853,210 $ 3,447,859
F-53
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
The County is a defendant in various lawsuits and is involved in other disputes wherein substantial
amounts are claimed. The County vigorously defends itself with respect to th
practice is to provide for these claims when a loss is probable and a loss becomes fixed or determinable
in amount. The County is involved in a handful of lawsuits. Most claims have been defeated to date, but
four merit mention.
The first claim, AshBritt, Inc. v. Monroe County is an action for declaratory relief and damages from the
alleged breach of a June 2017 agreement between the parties. The Plaintiff claimed that it provided
debris collection, processing, and removal services in response to Hurricane Irma in September 2017
and that the Board thereafter failed to pay invoices of approximately $1.5 million. Issues to do with
some invoices (approximately $400,000) appear to have been resolved. As to the remainder, the Board
maintains that three specific invoices (totaling approximately $1.1 million) for long distance haul out
and for removal of putrid waste from white goods (refrigerators and freezers) are not payable because
they represent charges not contemplated by the agreement. On February 24, 2020, the trial court denied
ent, which had asserted sovereign immunity as a defense to the
claims. The Board filed a Notice of Appeal on March 23, 2020. On March 9, 2022, the appellate court
returned an opinion affirming the decision of the trial court, finding that summary judgement was not
appropriate because of disputed factual issues. As a result, the case will be returned to the trial court and
set for trial. The Board has several viable contract defenses. However, in the event of an adverse
outcome, there is a reasonably probable likelihood that the Board will be subject to a judgment in the
amount determined to be due and unpaid under the agreement, plus additiona
fees and costs under Section 9.11 of the agreement.
The second claim, Galleon Bay vs. Monroe County and the State of Florida, is an inverse condemnation
action involving thirteen lots on No Name Key. Liability was established by the appellate courts in
December of 2012 and remanded the case for a valuation trial. On February 18, 2016, a jury valued the
thirteen lots at $285,500 as of July 2001. The trial court entered final judgment in the amount of
$480,511.60, as of June 1, 2016, plus statutory post judgment interest. After the judgment was affirmed
on appeal, the Board deposited $531,390.67 in the Court Registry to satisfy the judgment and the Clerk
issued a Satisfaction of Judgment. The Florida Legislature approved a measure during the 2020
legislative session to reimburse tht share of the amount paid; the
payment from the State was received during FY 2021. Contemporaneously, the property owners moved
to invalidate the final judgment, which the trial court denied. On September 13, 2019, the property
owner appealed that order to the Third District Court of Appeal. On December 2, 2020, the appellate
court affirmed that order. On February 17, 2021, the appellate court denied
rehearing or in the alternative to certify conflict; the Court issued a mandate on March 5, 2021. Absent
an unlikely acceptance of discretionary review by the Florida Supreme Court and/or the U.S. Supreme
Court, this appeal is concluded and the judgment is now final.
The Plaintiff will next ask the courts to determine a
anticipated that the Plaintiffs will seek an award of costs and attoapproximately $800,000
though motions have not been filed or amounts asserted at this time. Because judgment has been entered
responsibility for any amounts due to be paid to the property owner should reflect a 50-50
apportionment between the State and the Board.
F-54
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
CLAIMS (continued)
Therefore, the claim should be characterized as a loss, with liability recorded in the approximate amount
to certify conflict remains pending. Once the
appeal is concluded, the courts will determine any entitlement to costs and attorney fees. It is anticipated
that the property owner will seek an award of costs and attorney fees of approximately $1 million
though motions have not been filed or amounts asserted at this time.
The third claim, Key Haven Association, Enterprises, Inc., vs. FDEP, FDEO and Monroe County, is a
claim where the Plaintiff filed an action for declaratory relief and inverse condemnation against two
state agencies, FDEP and FDEO on September 16, 2021. The Plaintiff alleges that the denial of fill
permits by the agencies for five of its submerged Key Haven lots constitute a taking. FDEO filed a
motion to dismiss arguing that the Plaintiff failed to include the County as an indispensable party
because the denials were based in t regulations, the Plaintiff filed
an Amended Complaint on January 15, 2022, naming the County as a defendant as to the declaratory
relief count only. The County will be filing a motion to dismiss the declaratory relief count as to the
County. FDEO has filed another motion to dismiss in which it asserts the County is also an
indispensable party as to the inverse condemnation count and the County will be filing a response in
opposition to that motion. The County believes there is at least a remote possibility of County liability
for damages in excess of the materiality standard attributable to a taking if a claim for inverse
condemnation is asserted against the County.
The fourth claim, Mark Thompson vs. Monroe County, et. al., is an action by a former employee seeking
maintenance and cure, and negligence damages under the Jones Act. The employee was hired in March
2021 as a temporary pump-out worker assigned to work on a pump-out boat. He alleges that he was
injured when the boat captain accelerated suddenly. Under the Jones Act, an injured employee
nefits as well as seek damages for negligence. On
February 24, 2022, the former employee filed a suit alleging negligence against the County. As of
March 30, 2022, the case had not yet been served but service is expected shortly. Under maritime law, a
prevailing party is entitled to attorney fees and costs when the plaintiff can satisfy the high threshold
required to show that a shipowner acted in bad faith. Given the amount of maintenance and cure paid to-
date, and the amount forecasted for the future, in the event of an adverse outcome on the In the opinion
of the County, it is reasonably possible that there are other open suits and claims that could result in
judgements or settlements, which, in aggregate, would have a material adve
financial condition. Based on the uncertainty at this point of the proceedings, an estimate of the amount
or range of potential losses cannot be determined.
In the opinion of the County, it is reasonably possible that there are other open suits and claims that
could result in judgements or settlements, which, in aggregate, would have a material adverse effect on
at this point of the proceedings, an estimate of
the amount or range of potential losses cannot be determined.
AND CONTINGENCIES
ates in a number of federal and state grant programs that are
governed by various rules and regulations of the grantor agencies. Amounts received or receivable from
F-55
MONROE COUNTY, FLORIDA
Notes to Financial Statements
For the Year Ended September 30, 2021
NTINGENCIES (continued)
grant agencies are subject to financial and compliance audits by the grantors or their representatives.
Any disallowed claims, including amounts already collected, may constitute a liability of the applicable
funds. The amount, if any, which may be disallowed by the grantor, cannot be determined at this time,
although the County expects such amounts, if any, to be immaterial.
unencumbered funds arising from the collection of impact fees
may be refunded within one year following the end of the sixth year from the date on which the impact
fee was paid or within three months of the non-commencement of construction, subject to certain
conditions.
As described in Note 1, the County adopted GASB Statement No. 84, Fiduciary Activities effective
October 1, 2020. As a result of this adoption, the financial statements of th
have been restated to comply with the revised liability recognition criteria, resulting in a $5,992,509
decrease in liabilities and a corresponding increase in beginning net position.
During the year ended September 30, 2021, management discovered items previously reported as
additions to construction in progress were prior period expenses. Beginning net position and beginning
capital assets balance have been rested as follows:
Business Type Activities
Enterprise Funds
Key West
Total Business
Airport FundType Activities
Net position at September 30, 2020 as previously reported $ 104,084,180 $ 150,370,850
Restatement (7,381,343) (7,381,343)
Net position at September 30, 2020 as restated $ 96,702,837 $ 142,989,507
Capital assets at September 30, 2020 as previously reported $ 96,136,250 $ 125,243,211
Restatement (7,381,343) (7,381,343)
Capital assets at September 30, 2020 as restated $ 88,754,907 $ 117,861,868
Management has evaluated subsequent events through March 31, 2022, in connection with the
preparation of these financial statements, which is the date the financial statements were available to be
issued.
F-56
REQUIRED
SUPPLEMENTARYINFORMATION
MONROE COUNTY, FLORIDA
SCHEDULE OF MONROE COUNTY PROPORTIONATE SHARE OF NET PENSION LIABILITY
FLORIDA RETIREMENT SYSTEM PENSION PLAN
LAST 10 FISCAL YEARS*
202120202019
Monroe County's proportion of the net pension liability0.345802678%0.345802678%0.334375037%
Monroe County's proportionate share of the net pension liability$ 24,009,850$ 149,875,977$ 115,154,108
Monroe County's covered payroll$ 89,661,449$ 81,488,366$ 82,678,699
Monroe County's proportionate share of the net pension liability as a
percentage of its covered payroll
26.78%183.92%139.28%
Plan fiduciary net position as a percentage of the total pension
liability78.85%78.85%82.61%
* The amounts presented for each fiscal year were determined as of June 30.
No data is available for the previous two years.
G1
20182017201620152014
0.348561326%0.328044588%0.316397501%0.298789301%0.303954236%
$ 104,988,478$ 97,033,388$ 79,890,617$ 38,592,646$ 18,545,678
$ 84,301,564$ 74,326,732$ 70,699,621$ 70,456,332$ 69,783,359
124.54%130.55%113.00%54.78%26.58%
84.26%83.89%84.88%92.00%96.09%
G2
MONROE COUNTY, FLORIDA
SCHEDULE OF MONROE COUNTY CONTRIBUTIONS
FLORIDA RETIREMENT SYSTEM PENSION PLAN
LAST 10 FISCAL YEARS*
202120202019
Contractually required contribution$ 11,694,578$ 11,694,578$ 10,642,566
Contributions in relation to the contractually required
contribution
(11,694,578) (11,694,578) (10,642,566)
Contribution deficiency (excess)
$ --$ -$
Monroe County's covered payroll
$ 81,243,79688,018,382$ 82,678,699$
Contributions as a percentage of covered payroll
13.29%14.39%12.87%
* The amounts presented for each fiscal year were determined as of September 30.
No data is available for the previous two years.
G3
20182017201620152014
$ 12,427,075$ 8,317,662$ 7,715,858$ 7,284,737$ 6,657,888
(12,427,075) (8,317,662) (7,715,858) (7,284,737) (6,657,888)
$ -$ -$ -$ -$ -
$ 84,301,564$ 69,003,713$ 70,699,621$ 70,133,038$ 69,338,053
14.74%12.05%10.91%10.39%9.60%
G4
MONROE COUNTY, FLORIDA
SCHEDULE OF MONROE COUNTY PROPORTIONATE SHARE OF NET PENSION LIABILITY
HEALTH INSURANCE SUBSIDY PROGRAM
LAST 10 FISCAL YEARS*
202120202019
Monroe County's proportion of the net pension liability
0.256931327%0.256931327%0.247210889%
Monroe County's proportionate share of the net pension liability
$ 31,370,89731,306,155$ 27,660,425$
Monroe County's covered payroll
$ 81,488,36689,661,449$ 82,678,699$
Monroe County's proportionate share of the net pension liability as a
percentage of its covered payroll
34.92%38.50%33.46%
Plan fiduciary net position as a percentage of the total pension liability
3.00%3.00%2.63%
* The amounts presented for each fiscal year were determined as of June 30.
No data is available for the previous two years.
G5
20182017201620152014
0.254159349%0.236677851%0.228042287%0.228621233%0.231240629%
$ 26,900,511$ 25,306,688$ 26,577,384$ 23,315,769$ 21,621,563
$ 84,301,564$ 74,326,732$ 70,699,621$ 70,133,038$ 69,338,053
31.91%34.05%37.59%33.25%31.18%
2.15%1.64%0.97%0.50%0.99%
G6
MONROE COUNTY, FLORIDA
SCHEDULE OF MONROE COUNTY CONTRIBUTIONS
HEALTH INSURANCE SUBSIDY PROGRAM
LAST 10 FISCAL YEARS*
202120202019
Contractually required contribution
$ 1,494,6921,460,189$ 1,393,010$
Contributions in relation to the contractually required
contribution
(1,494,692)(1,460,189) (1,393,010)
Contribution deficiency (excess)
$ --$ -$
Monroe County's covered payroll
$ 88,018,38288,018,382$ 82,678,699$
Contributions as a percentage of covered payroll
1.66%1.70%1.68%
* The amounts presented for each fiscal year were determined as of September 30.
No data is available for the previous two years.
G7
20182017201620152014
$ 1,398,691$ 1,392,250$ 1,168,862$ 873,933$ 792,153
(1,398,691) (1,392,250) (1,168,862) (873,933) (792,153)
$ -$ -$ -$ -$ -
$ 84,301,564$ 69,003,713$ 70,699,621$ 70,133,038$ 69,338,053
1.66%2.02%1.65%1.25%1.14%
G8
MONROE COUNTY, FLORIDA
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CHANGES IN THE COUNTY'S NET PENSION LIABILITY AND RELATED RATIOS
PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES
LAST 10 FISCAL YEARS*
(DOLLAR AMOUNTS IN THOUSANDS)
202120202019
Total pension liability
Service Cost$ (24,610)$ (11,774)$ (6,170)
Interest 6,890 8,130 8,724
Differences between expected and actual experience (61,382) (50,828) (35,295)
Benefit payments, including refunds of employee contributions (34,680) (30,945) (31,680)
Net change in total pension liability (113,782) (85,417) (64,421)
Total pension liability - beginning 718,133 803,550 867,971
Total pension liability - ending$ 604,351$ 718,133$ 803,550
Covered payroll N/AN/AN/A
County's total pension liability as a percentage of covered payroll
N/AN/AN/A
Notes to Schedule:
*This schedule is presented to illustrate the requirement to show information for 10 years. However, until a full 10-year trend is compiled,
governments should present information for those years for which information is available.
There are no assets accumulated in a trust, as defined by Statement of Governmental Accounting Standards No. 73, to pay benefits.
G-9
20182017201620152014
$ 12,761$ 22,937$ 16,394$ 16,455$ 18,434
9,146 9,146 8,895 8,054 12,219
182 (39,039) 33,108 89,397 (9,696)
(32,265) (32,265) (28,365) (30,855) (25,575)
(10,176) (39,221) 30,032 83,051 (4,618)
878,147 917,368 887,336 804,285 808,903
$ 867,971$ 878,147$ 917,368$ 887,336$ 804,285
N/AN/AN/AN/AN/A
N/AN/AN/AN/AN/A
G-10
MONROE COUNTY, FLORIDA
REQUIRED SUPPLEMENTARY INFORMATION
TEN YEAR SCHEDULE OF EMPLOYER CONTRIBUTIONS
PENSION PLAN FOR VOLUNTEER
FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES
Year Ending December 31,202020192018
Contractually required contribution$ 5,200$ 3,265$ 61,388
Contributions in relation to the contractually
required contribution 5,200 3,265 61,388
Contribution deficiency (excess)$ -$ -$ -
Covered payroll$ -$ -$ -
Contributions as a percentage of covered
payroll
N/AN/AN/A
Notes to Schedule
Valuation Date:
Actuarially determined contribution rates are calculated as of January 1, which is nine months prior to
the end of the fiscal year in which contributions are reported.
Methods and Assumptions used to determine contribution rates:
Inflation - No increase as benefits are based on a flat amount per year of service
Salary Increases - N/A
Investment rate of return - 1.0% net of investment expenses, including inflation
Retirement age - N/A
Mortality - N/A
G11
2017201620152014201320122011
$ 39,89939,899$ 30,304$ 28,575$ 36,788$ 28,145$ 30,379$
39,89939,899 30,304 28,575 36,788 28,145 30,379
$ -$ -$ -$ -$ -$ -$ -
$ -$ -$ -$ -$ -$ -$ -
N/AN/AN/AN/AN/AN/AN/A
G12
MONROE COUNTY, FLORIDA
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CHANGES IN THE COUNTY'S TOTAL OPEB LIABILITY AND RELATED RATIOS
LAST TEN FISCAL YEARS*
2021202020192018
Total OPEB liability
Service cost 3,177,500 2,513,200$ 1,893,000$ 1,817,000
Interest 1,314,800 1,305,200 1,651,000 2,885,000
Changes of benefit terms - - (29,384,000)-
Changes in experience (877,000)- - -
Changes in assumptions or other inputs 404,700 9,107,900 7,321,000 (3,343,000)
Benefit payments (2,396,000) (2,165,300) (1,663,000) (1,470,000)
Net change in total OPEB liability 2,501,000 9,884,000 9,202,000 (29,495,000)
Total OPEB liability - Beginning of Year 57,533,000 47,649,000 38,447,000 67,942,000
Total OPEB liability - End of Year$ 60,034,000$ 57,533,000$ 47,649,000$ 38,447,000
Covered-employee payroll$ 81,891,000$ 79,506,000$ 65,681,000$ 63,460,551
Total OPEB liability as a percentage of covered-employee payroll 73.31%72.36%72.55%60.58%
Notes to Schedule:
No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement No. 75.
Effective January 1, 2018, the County implemented cost-saving benefit changes for its other postemployment benefit plan. These included premium
rates that are calculated based on expected retiree costs for Medicare retirees and lower premium subsidies for eligible retirees.
Changes include updating the mortality to be a generational table with updated projection scales as published by the Society of Actuaries, an interest
rate using 20 year bond rates, and a change in Actuarial Cost methodology to the Entry Age Normal method.
*This schedule should present information for the last ten years. However, until a full ten years of information can be compiled, information will be
presented for as many years as are available.
G-13
COMBININGANDINDIVIDUAL
FUNDSTATEMENTSANDSCHEDULES
NONMAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS
AFFORDABLE HOUSING PROGRAMS
To account for revenues and expenditures of various low income housing programs.
ROAD & BRIDGE
To account for revenues and expenditures of the constitutional gas taxes.
TOURIST DEVELOPMENT DISTRICTS
To account for the local option three-cent bed tax in five districts, all districts two cent, and
administrative and promotional funds for the expenditures of advertising, promotions, and special events
IMPACT FEES
To account for the revenues and expenditures relating to impact fees collected for roadways, parks and
recreation, libraries, solid waste, and fire and EMS.
FIRE AND AMBULANCE DISTRICT #1, LOWER AND MIDDLE KEYS
To account for revenues and expenditures in District #1 for fire and ambulance services.
UNINCORPORATED AREA SERVICE DISTRICTS
To account for all revenues and expenditures for planning, building and zoning, and parks and
recreation services provided only to the unincorporated area of the County.
MUNICIPAL POLICING
To account for all revenues and expenditures for local road patrol law enforcement in the City of
Marathon, City of Layton, and Islamorada, Village of Islands.
DUCK KEY SECURITY DISTRICT
To account for the revenues and expenditures in providing security services for the Duck Key District.
LOCAL HOUSING ASSISTANCE SPECIAL REVENUE FUND
The Local Housing Assistance Fund is used to account for the revenues and expenditures for the
administration and implementation of the State Housing Initiatives Partnership Program.
BOATING IMPROVEMENT
To account for revenues and expenditures for providing boating-related activities, for removal of vessels
and floating structures deemed a hazard to public safety and health, and for manatee and marine
mammal protection and recovery.
MISCELLANEOUS SPECIAL REVENUE
To account for revenues and expenditures earmarked for specific purposes.
ENVIRONMENTAL RESTORATION
To account for all revenue and expenditures for fines/fees collected and earmarked for environmental
protection.
COURT FACILITY FEES
To account for revenues collected upon the institution of any civil action, suit or proceeding to be used
exclusively in providing and maintaining existing and future facilities for the use of the Circuit and County
Court systems.
(Continued)
NONMAJOR GOVERNMENTAL FUNDS
DRUG ABUSE TRUST
To account for assessments collected for drug abuse programs and to disburse assistance grants for
drug abuse treatment and/or educational programs which meet the standards for qualification of such
programs by the Department of Health and Rehabilitative Services.
MARATHON MUNICIPAL SERVICE
To account for the revenues and expenditures for municipal services for Marathon.
MIDDLE KEYS HEALTH CARE MUNICIPAL SERVICE
To account for revenues and expenditures related to providing indigent health care services and other
essential facilities and municipal services.
WASTEWATER MSTU
To account for the revenues and expenditures for wastewater services for Bay Point, Big Coppitt, Key
Largo, Stock Island, Conch Key, Long Key-Layton, and Duck Key.
CANAL #266 MUNICIPAL SERVICE
To account for the revenues and expenditures relating to providing the maintenance of local
improvements for Canal #266 Big Pine Key.
BUILDING FUND
To account for the revenues and expenditures relating to building permits and for the administration and
enforcement of the building code for the unincorporated area of the County.
To account for receipts and disbursements pertaining to a program designed to deter juveniles who are
becoming involved in crime.
To account for the revenues from the U.S. Departments of Justice and Treasury. Expenditures are
made in accordance with the guidelines issued by these agencies.
To account for the proceeds from state forfeitures received primarily from the South Florida Drug and
Money Laundering Task Force.
To account for the receipts of service fees collected for administering HIDTA, South Florida Law
Enforcement Trust Fund, Impact Support, and the NHAC Financial Unit. Expenditures relate to the
costs of administering their activities.
To account for the receipts and disbursements of inmate telephone commissions, canteen revenues,
and other inmate programs.
To account for revenues and expenditures allocated for radio communications.
(Continued)
NONMAJOR GOVERNMENTAL FUNDS
To account for revenues and expenditures from Court fees for radio communications.
program.
To account for fees levied on each telephone access line in Monroe County for the enhancement of the
911 emergency telephone systems.
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
To account for revenues and expenditures for providing court related services under the direction of the
Clerk of the Circuit Court.
CAPITAL PROJECT FUNDS
Loan.
INFRASTRUCTURE REVENUE BONDS SERIES 2007
To account for the revenues and expenditures funded by the Infrastructure Revenue Bonds Series 2007
debt issuance.
BIG COPPITT WASTEWATER
To account for the revenues and expenditures of the wastewater infrastructure for Big Coppitt Key.
DUCK KEY WASTEWATER
To account for the revenues and expenditures of the wastewater infrastructure for Duck Key.
LONG KEY WASTEWATER PROJECT
To account for the revenues and expenditures related to the construction of the Long Key Wastewater
Project.
LAND ACQUISITION FUND
To account for the revenues and expenditures related to Land Acquisition.
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2021
SPECIAL
TouristTourist
AffordableDevelopmentDevelopmentTourist
HousingRoad and All DistrictsAdmin & PromoDevelopment
ProgramsBridgeTwo CentTwo CentDistrict One
ASSETS
Cash and Cash Equivalents
$ 1,477,22863,323$ 2,851,404$ 4,917,014$ 3,905,803$
Investments
7,345,766352,332 9,385,138 15,414,692 14,916,200
Accounts Receivable, Net
-- - - -
Assessments Receivable
-- - - -
Due from Other Funds
91,546- 104,051 193,238 144,367
Due from Other Governmental Units
594,637- - - -
Mortgages/Notes Receivable
-- - - -
Allowance for Mortgages/Notes Receivable
-- - - -
Interest Receivable
13,509636 16,953 27,436 26,196
Total Assets
$ 9,522,686416,291$ 12,357,546$ 20,552,380$ 18,992,566$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities:
Accounts Payable
$ 1,094,998-$ 361,912$ 553,119$ 903,552$
Retainage Payable
111,002- - - 75,086
Accrued Wages and Benefits Payable
120,213- - 5,184 4,278
Due to Other Funds
-- - - 2,141
Due to Other Governmental Units
-- - - -
Deposits in Escrow
-- - - -
Total Liabilities
1,326,213- 361,912 558,303 985,057
Deferred Inflows of Resources:
Unavailable Revenues- - - - -
Total Deferred Inflows of Resources
-- - - -
Fund Balances:
Restricted416,291 8,196,473 11,995,634 19,994,077 17,780,267
Committed- - - - 227,242
Assigned- - - - -
Unassigned- - - - -
Total Fund Balances416,291 8,196,473 11,995,634 19,994,077 18,007,509
Total Liabilities, Deferred Inflows of
$
Resources and Fund Balances416,291$ 9,522,686$ 12,357,546$ 20,552,380$ 18,992,566
H-1
REVENUE FUNDS
TouristTouristTouristTouristImpact Fees,
DevelopmentDevelopmentDevelopmentDevelopmentImpact Fees,Parks, and
District TwoDistrict ThreeDistrict FourDistrict FiveRoadwaysRecreation
$ 1,586,056704,083$ 1,001,359$ 1,382,817$ 180,754$ 128,019$
5,442,7142,365,018 3,338,405 4,506,285 1,005,685 712,306
-- - - - -
-- - - - -
54,87927,353 33,386 72,849 - -
-- - - - -
-- - - - -
-- - - - -
9,8324,245 6,030 8,162 1,818 1,287
$ 7,093,4813,100,699$ 4,379,180$ 5,970,113$ 1,188,257$ 841,612$
$ 164,55115,847$ 37,206$ 82,351$ -$ -$
49,473- - - - -
-4,865 - 37,771 - -
-- - - - -
-- - - - -
-- - - - -
214,02420,712 37,206 120,122 - -
-- - - - -
-- - - - -
6,879,4573,079,987 4,341,974 5,849,991 1,188,257 841,612
-- - - - -
-- - - - -
-- - - - -
6,879,4573,079,987 4,341,974 5,849,991 1,188,257 841,612
$ 7,093,4813,100,699$ 4,379,180$ 5,970,113$ 1,188,257$ 841,612$
(Continued)
H-2
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2021
SPECIAL
Fire & Amb
District #1,
Impact Fees,Impact Fees,Impact Fees,Lower and
LibrariesSolid WasteFire and EMSMiddle Keys
ASSETS
Cash and Cash Equivalents
$ 19,46838,715$ 26,386$ 1,218,744$
Investments
108,325215,341 146,815 4,117,436
Accounts Receivable, Net
-- - 141,039
Assessments Receivable
-- - -
Due from Other Funds
-- - 990,447
Due from Other Governmental Units
-- - -
Mortgages/Notes Receivable
-- - -
Allowance for Mortgages/Notes Receivable
-- - -
Interest Receivable
196389 265 7,573
Total Assets
$ 127,989254,445$ 173,466$ 6,475,239$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities:
Accounts Payable
$ -81,683$ -$ 121,093$
Retainage Payable
-- - -
Accrued Wages and Benefits Payable
-- - 165,573
Due to Other Funds
-- - -
Due to Other Governmental Units
-- - -
Deposits in Escrow
-- - -
Total Liabilities
-81,683 - 286,666
Deferred Inflows of Resources:
Unavailable Revenues- - - 19,044
Total Deferred Inflows of Resources- - - 19,044
Fund Balances:
Restricted172,762 127,989 173,466 -
Committed- - - -
Assigned- - - 6,169,529
Unassigned- - - -
Total Fund Balances172,762 127,989 173,466 6,169,529
Total Liabilities, Deferred Inflows of
Resources and Fund Balances254,445$ 127,989$ 173,466$ 6,475,239$
H-3
REVENUE FUNDS
UnincorporatedUnincorporated
Area ServiceArea ServiceDuck KeyLocal
District,Dist, PlanningMunicipalSecurityHousingBoating
Parks and RecBldg and ZoningPolicingDistrictAssistanceImprovement
$ 1,310,307257,352$ 382,484$ 52,897$ 260,747$ 489,329$
5,730,8071,758,588 2,128,236 294,323 1,510,210 3,065,224
1,9731,100 - - - -
-- - - - -
759,63570,591 51,184 526 - -
236,58769,666 - - - 43,291
-- - - 10,004,280 -
-- - - (10,004,280) -
10,4403,087 3,846 532 2,712 5,443
$ 8,049,7492,160,384$ 2,565,750$ 348,278$ 1,773,669$ 3,603,287$
$ 128,50382,376$ -$ 8,194$ 61,273$ 30,710$
-- - - - -
89,696217,780 - - 10,671 4,948
7,873140 - - - -
-- - - - -
224,0424,182 - - - -
450,114304,478 - 8,194 71,944 35,658
-400 - - - -
-400 - - - -
7,599,6351,855,506 2,565,750 340,084 1,701,725 3,567,629
-- - - - -
-- - - - -
-- - - - -
7,599,6351,855,506 2,565,750 340,084 1,701,725 3,567,629
$ 8,049,7492,160,384$ 2,565,750$ 348,278$ 1,773,669$ 3,603,287$
(Continued)
H-4
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2021
SPECIAL
MiscellaneousCourtDrug
SpecialEnvironmentalFacilityAbuse
RevenueRestorationFeesTrust
ASSETS
Cash and Cash Equivalents
$ 682,586485,821$ 734,934$ 8,645$
Investments
3,972,9112,746,814 4,190,992 48,099
Accounts Receivable, Net
-146 - -
Assessments Receivable
-- - -
Due from Other Funds
5962,884 53,311 2,307
Due from Other Governmental Units
-- 285 -
Mortgages/Notes Receivable
-- - -
Allowance for Mortgages/Notes Receivable
-- - -
Interest Receivable
7,1284,950 7,543 87
Total Assets
$ 4,662,6843,300,615$ 4,987,065$ 59,138$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities:
Accounts Payable
$ 5,06884,362$ 175,835$ 11,538$
Retainage Payable
-- - -
Accrued Wages and Benefits Payable
7,571536 4,400 -
Due to Other Funds
-26,086 - -
Due to Other Governmental Units
-- - -
Deposits in Escrow
-- - -
Total Liabilities
12,639110,984 180,235 11,538
Deferred Inflows of Resources:
Unavailable Revenues- - - -
Total Deferred Inflows of Resources- - - -
Fund Balances:
Restricted3,190,768 - 4,806,830 47,600
Committed- 4,650,045 - -
Assigned- - - -
Unassigned(1,137) - - -
Total Fund Balances3,189,631 4,650,045 4,806,830 47,600
Total Liabilities, Deferred Inflows of
Resources and Fund Balances3,300,615$ 4,662,684$ 4,987,065$ 59,138$
H-5
REVENUE FUNDS
MarathonMiddle KeysBay PointBig CoppittKey Largo
MunicipalHealth CareWastewaterWastewaterWastewater
ServiceMSTUMSTUMSTUMSTU
$ 64,814420$ 7,381$ 81$ 1,394$
360,5272,340 41,066 453 7,756
-- - - -
-- - - -
38,725- - - -
-- - - -
-- - - -
-- - - -
6514 74 2 14
$ 464,7172,764$ 48,521$ 536$ 9,164$
$ 464,717-$ -$ -$ -$
-- - - -
-- - - -
-- - - -
-- - - -
-- - - -
464,717- - - -
-- - - -
-- - - -
-2,764 - - -
-- 48,521 536 9,164
-- - - -
-- - - -
-2,764 48,521 536 9,164
$ 464,7172,764$ 48,521$ 536$ 9,164$
(Continued)
H-6
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2021
SPECIAL
Stock IslandLong Key,
WastewaterConch KeyLaytonDuck Key
MSTUMSTUMSTUMSTU
ASSETS
Cash and Cash Equivalents
$ 91180,073$ 40,359$ 7,301$
Investments
5091,002,036 224,887 40,626
Accounts Receivable, Net
-- - -
Assessments Receivable
-1,683,580 - -
Due from Other Funds
-1,051 - -
Due from Other Governmental Units
-- - -
Mortgages/Notes Receivable
-- - -
Allowance for Mortgages/Notes Receivable
-- - -
Interest Receivable
11,811 406 73
Total Assets
$ 6012,868,551$ 265,652$ 48,000$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities:
Accounts Payable
$ --$ -$ -$
Retainage Payable
-- - -
Accrued Wages and Benefits Payable
-- - -
Due to Other Funds
-- - -
Due to Other Governmental Units
-- - -
Deposits in Escrow
-- - -
Total Liabilities
-- - -
Deferred Inflows of Resources:
Unavailable Revenues1,638,463 - - -
Total Deferred Inflows of Resources1,638,463 - - -
Fund Balances:
Restricted1,230,088 - - -
Committed- 601 265,652 48,000
Assigned- - - -
Unassigned- - - -
Total Fund Balances1,230,088 601 265,652 48,000
Total Liabilities, Deferred Inflows of
Resources and Fund Balances2,868,551$ 601$ 265,652$ 48,000$
H-7
REVENUE FUNDS
Sheriff'sSheriff'sSheriff's
Canal #266BuildingTeen Federal State
MSBUFundCourtForfeitureForfeiture
$ 630,1206,109$ -$ 3,534,140$ 50,474$
3,050,86334,004 - - 601,179
320- - - -
-- - - -
138,233- - - -
-- 4,836 - -
-- - -
-- - - -
5,40561 - - -
$ 3,824,94140,174$ 4,836$ 3,534,140$ 651,653$
$ 128,357-$ -$ -$ -$
-- - - -
204,649- - - -
-- 4,836 - -
20,732- - - -
8,110- - - -
361,848- 4,836 - -
-- - - -
-- - - -
3,463,093- - 3,471,103 651,653
-40,174 - - -
-- - - -
-- - - -
3,463,09340,174 - 3,471,103 651,653
$ 3,824,94140,174$ 4,836$ 3,471,103$ 651,653$
(Continued)
H-8
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2021
SPECIAL
Sheriff'sSheriff'sSheriff's
ContractSheriff'sInteragencyTrauma
AdministrativeCommissaryCommunicationsStar
ASSETS
Cash and Cash Equivalents
$ 1,143,344-$ 181,330$ 11,427$
Investments
-- - -
Accounts Receivable, Net
-- - -
Assessments Receivable
-- - -
Due from Other Funds
4,8081,437,718 31,083 -
Due from Other Governmental Units
35,540283,264 222 -
Mortgages/Notes Receivable
-- - -
Allowance for Mortgages/Notes Receivable
-- - -
Interest Receivable
-- - -
Total Assets
$ 1,183,6921,720,982$ 212,635$ 11,427$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES
Liabilities:
Accounts Payable
$ 4,182-$ 11,901$ -$
Retainage Payable
-- - -
Accrued Wages and Benefits Payable
3,165- - -
Due to Other Funds
26,581276,118 - 11,427
Due to Other Governmental Units
35,076- - -
Deposits in Escrow
-- - -
Total Liabilities
69,004276,118 11,901 11,427
Deferred Inflows of Resources:
Unavailable Revenues107,460 - - -
Total Deferred Inflows of Resources107,460 - - -
Fund Balances:
Restricted- 1,114,688 200,734 -
Committed1,337,404 - - -
Assigned- - - -
Unassigned- - - -
Total Fund Balances1,337,404 1,114,688 200,734 -
Total Liabilities, Deferred Inflows of
Resources and Fund Balances1,720,982$ 1,183,692$ 212,635$ 11,427$
H-9
REVENUE FUNDS
Sheriff'sSheriff'sClerk'sClerk's
RadioSheriff'sShared AssetSheriff'sRecordsCourt
CommunicationGrantsForfeitureE911ModernizationRelated
$ -22,015$ 196,304$ 1,256,314$ 3,272,178$ 2,313,667$
-- 4,851,771 - - -
-- - - - -
-- - - - -
330,197- - - - 139,401
415,921- - - - 25,237
-- - - - -
-- - - - -
-- 27,582 98 - -
$ 746,11822,015$ 5,075,657$ 1,256,412$ 3,272,178$ 2,478,305$
$ --$ 27,551$ 8,940$ -$ 264,807$
-- - - - -
-- - 1,986 - -
425,29922,015 - 6,777 - 1,561,590
-- - - - 651,436
-- - - - -
425,29922,015 27,551 17,703 - 2,477,833
347,195- - - - 472
347,195- - - - 472
-- 5,048,106 1,301,746 3,272,178 -
-- - - - -
-- - - - -
(26,376)- - - - -
(26,376)- 5,048,106 1,301,746 3,272,178 -
$ 746,11822,015$ 5,075,657$ 1,319,449$ 3,272,178$ 2,478,305$
(Continued)
H-10
MONROE COUNTY, FLORIDA
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2021
CAPITAL
Total NonmajorClerk'sInfrastructureBig Coppitt
Special RevRevenueRevenue BondsWastewater
FundsNoteSeries 2007Project
ASSETS
Cash and Cash Equivalents
$ 17,10437,085,611$ 28,304$ 29,324$
Investments
95,168105,036,679 157,497 186,781
Accounts Receivable, Net
-144,578 - -
Assessments Receivable
-1,683,580 - 1,494,315
Due from Other Funds
-4,833,829 - 867
Due from Other Governmental Units
-1,709,486 - -
Mortgages/Notes Receivable
-10,004,280 - -
Allowance for Mortgages/Notes Receivable
-(10,004,280) - -
Interest Receivable
172206,477 285 331
Total Assets
$ 112,444150,700,240$ 186,086$ 1,711,618$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities:
Accounts Payable
$ -4,914,626$ -$ -$
Retainage Payable
-235,561 - -
Accrued Wages and Benefits Payable
-883,286 - -
Due to Other Funds
-2,370,883 - -
Due to Other Governmental Units
-707,244 - -
Deposits in Escrow
-236,334 - -
Total Liabilities
-9,347,934 - -
Deferred Inflows of Resources:
Unavailable Revenues2,113,034 - - 1,374,575
Total Deferred Inflows of Resources2,113,034 - - 1,374,575
Fund Balances:
Restricted126,469,917 112,444 186,086 337,043
Committed6,627,339 - - -
Assigned6,169,529 - - -
Unassigned(27,513) - - -
Total Fund Balances139,239,272 112,444 186,086 337,043
Total Liabilities, Deferred Inflows of
Resources and Fund Balances150,700,240$ 112,444$ 186,086$ 1,711,618$
H-11
PROJECT FUNDS
Total
Duck KeyLong Key Land Nonmajor
WastewaterWastewaterAcquisitionGovernmental
ProjectProjectFundFunds
$ 2,49591,086$ 146,281$ 37,400,205$
13,864506,817 813,873 106,810,679
-- - 144,578
-326,333 - 3,504,228
-184 - 4,834,880
382,498- - 2,091,984
-- - 10,004,280
-- - (10,004,280)
25916 1,469 209,675
$ 398,882925,336$ 961,623$ 154,996,229$
$ --$ -$ 4,914,626$
-- - 235,561
-- - 883,286
-- - 2,370,883
-- - 707,244
-- - 236,334
-- - 9,347,934
-302,826 - 3,790,435
-302,826 - 3,790,435
622,510
398,882 961,623 129,088,505
-- - 6,627,339
-- - 6,169,529
-- - (27,513)
398,882622,510 961,623 141,857,860
$ 398,882925,336$ 961,623$ 154,996,229$
H-12
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
SPECIAL
TouristTourist
AffordableDevelopmentDevelopmentTourist
HousingRoad and All DistrictsAdmin & PromoDevelopment
ProgramsBridgeTwo CentTwo CentDistrict One
REVENUES:
Taxes-$ 3,000,677$ 9,199,632$ 19,063,445$ 13,114,955$
Licenses and Permits- - - - -
Intergovernmental- 3,713,038 - - -
Charges for Services- 3,870 - - -
Fines and Forfeitures- - - - -
Investment Income919 23,118 16,422 24,937 32,922
Miscellaneous- 21,202 - - -
Total Revenues919 6,761,905 9,216,054 19,088,382 13,147,877
EXPENDITURES:
Current:
General Government- - - - -
Public Safety- - - - -
Physical Environment- - - - -
Transportation- 8,817,620 - - -
Economic Environment- - 3,850,568 8,713,550 8,833,176
Human Services- - - - -
Culture and Recreation- - - - -
Court Related- - - - -
Capital Projects - - - - -
Total Expenditures 8,817,620- 3,850,568 8,713,550 8,833,176
Excess/Deficiency of Revenues
Over (Under) Expenditures (2,055,715)919 5,365,486 10,374,832 4,314,701
OTHER FINANCING SOURCES (USES):
Transfers from Other Funds - 91,546 104,051 193,238 144,367
Transfers to Other Funds (408,919)- (83,681) (131,387) (216,439)
Total Other Financing Sources (Uses) (317,373)- 20,370 61,851 (72,072)
Net Change in Fund Balances (2,373,088)919 5,385,856 10,436,683 4,242,629
Fund Balances - October 1 415,372 10,569,561 6,609,778 9,557,394 13,764,880
$ 416,291$ 8,196,473$ 11,995,634$ 19,994,077$ 18,007,509
Fund Balances - September 30
H-13
REVENUE FUNDS
TouristTouristTouristTouristImpact Fees,
DevelopmentDevelopmentDevelopmentDevelopmentImpact Fees,Parks, and
District TwoDistrict ThreeDistrict FourDistrict FiveRoadwaysRecreation
$ 5,150,5322,349,939$ 3,170,633$ 4,477,016$ -$ -$
-- - - 109,138 32,300
-- - - - -
-- - - - -
-- - - - -
10,6745,360 6,560 6,876 3,673 1,203
-- - 7 - -
5,161,2062,355,299 3,177,193 4,483,899 112,811 33,503
-- - - - -
-- - - - -
-- - - - -
-- - - 458,286 -
2,714,905878,624 1,352,374 2,248,011 - -
-- - - - -
- - - - - -
- - - - - -
- - - - - -
878,624 2,714,905 1,352,374 2,248,011 458,286 -
1,476,675 2,446,301 1,824,819 2,235,888 (345,475) 33,503
27,354 54,880 33,386 50,904 - -
(16,571) (17,612) (15,483) (29,816) - -
10,783 37,268 17,903 21,088 - -
1,487,458 2,483,569 1,842,722 2,256,976 (345,475) 33,503
1,592,529 4,395,888 2,499,252 3,593,015 1,533,732 808,109
$ 3,079,987$ 6,879,457$ 4,341,974$ 5,849,991$ 1,188,257$ 841,612
(Continued)
H-14
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
SPECIAL
Fire & Amb
District #1,
Impact Fees,Impact Fees,Impact Fees,Lower and
LibrariesSolid Waste Fire and EMS Middle Keys
REVENUES:
Taxes-$ -$ -$ 13,069,581$
Licenses and Permits- - 16,491 -
Intergovernmental- - - 125,703
Charges for Services- - - 767,314
Fines and Forfeitures- - - -
Investment Income2,755 383 356 20,608
Miscellaneous- - - 49,158
Total Revenues2,755 383 16,847 14,032,364
EXPENDITURES:
Current:
General Government- - - -
Public Safety- - - 12,042,147
Physical Environment- - - -
Transportation- - - -
Economic Environment- - - -
Human Services- - - -
Culture and Recreation1,079,554 - - -
Court Related- - - -
Capital Projects- - - -
Total Expenditures1,079,554 - - 12,042,147
Excess/Deficiency of Revenues
Over (Under) Expenditures(1,076,799) 383 16,847 1,990,217
OTHER FINANCING SOURCES (USES):
Transfers from Other Funds - - 990,399-
Transfers to Other Funds - - (1,785,372)-
Total Other Financing Sources (Uses) - - (794,973)-
Net Change in Fund Balances (1,076,799) 383 16,847 1,195,244
Fund Balances - October 1 1,249,561 127,606 156,619 4,974,285
$ 172,762$ 127,989$ 173,466$ 6,169,529
Fund Balances - September 30
H-15
REVENUE FUNDS
UnincorporatedUnincorporated
Area ServiceArea ServiceDuck KeyLocal
District,Dist, PlanningMunicipalSecurityHousingBoating
Parks and RecBldg and ZoningPolicingDistrictAssistanceImprovement
$ 487,1372,374,520$ 4,796,240$ -$ -$ -$
4- - 114,602 - -
2,564,822758,546 - - 526,649 28,420
3,316,141174,805 4,084,273 - - 759,309
2,705,259- - - - -
18,4734,485 7,890 2,861 4,240 7,475
65,43629,760 - - 291,196 1,550
9,157,2723,342,116 8,888,403 117,463 822,085 796,754
3,170,003- - 1,000 - -
3,676,952- 931,020 130,757 - -
569,444- - - - 565,088
-- - - - -
-- - - 1,188,312 -
-- - - - -
2,617,334 - - - - -
- - - - - -
- - - - - -
2,617,334 7,416,399 931,020 131,757 1,188,312 565,088
724,782 1,740,873 7,957,383 (14,294) (366,227) 231,666
70,563 759,635 51,128 526 - -
(69,733) (1,501,895) (7,821,120) - - (3,131)
830 (742,260) (7,769,992) 526 - (3,131)
725,612 998,613 187,391 (13,768) (366,227) 228,535
1,129,894 6,601,022 2,378,359 353,852 2,067,952 3,339,094
$ 1,855,506$ 7,599,635$ 2,565,750$ 340,084$ 1,701,725$ 3,567,629
(Continued)
H-16
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
SPECIAL
MiscellaneousCourtDrug
SpecialEnvironmentalFacilityAbuse
RevenueRestorationFeesTrust
REVENUES:
Taxes-$ -$ -$ -$
Licenses and Permits52,244 - - -
Intergovernmental- - - -
Charges for Services505,541 - 591,792 34,210
Fines and Forfeitures306,298 613,704 - -
Investment Income7,141 9,894 9,971 526
Miscellaneous3 - - -
Total Revenues871,227 623,598 601,763 34,736
EXPENDITURES:
Current:
General Government- - - -
Public Safety263,482 - - -
Physical Environment- 283,871 - -
Transportation- - - -
Economic Environment- - - -
Human Services92,487 - - 37,741
Culture and Recreation72,672 - - -
Court Related387,553 - 382,580 -
Capital Projects- - - -
Total Expenditures816,194 283,871 382,580 37,741
Excess/Deficiency of Revenues
Over (Under) Expenditures55,033 339,727 219,183 (3,005)
OTHER FINANCING SOURCES (USES):
Transfers from Other Funds - 595,867 -
Transfers to Other Funds- (34,602) - -
Total Other Financing Sources (Uses)- (34,543) 5,867 -
Net Change in Fund Balances 305,18455,033 225,050 (3,005)
Fund Balances - October 1 4,344,8613,134,598 4,581,780 50,605
$ 4,650,0453,189,631$ 4,806,830$ 47,600$
Fund Balances - September 30
H-17
REVENUE FUNDS
MarathonMiddle KeysBay PointBig CoppittKey Largo
MunicipalHealth CareWastewaterWastewaterWastewater
ServiceMSTUMSTUMSTUMSTU
$ 2,024,793-$ -$ -$ -$
-- - - -
-- - - -
-- - - -
-- - - -
80532 81 5 20
-- - - -
2,025,59832 81 5 20
-- - - -
-- - - -
-- - - -
-- - - -
-- - - -
2,186,185- - - -
-- - - -
-- - - -
- - - - -
2,186,185- - - -
32 (160,587) 81 5 20
- 38,261 - - -
- - - - -
- 38,261 - - -
32 (122,326) 81 5 20
2,732 122,326 48,440 531 9,144
$ 2,764$ -$ 48,521$ 536$ 9,164
(Continued)
H-18
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
SPECIAL
Stock IslandLong Key,
WastewaterConch KeyLaytonDuck Key
MTSUMSTUMSTUMSTU
REVENUES:
Taxes-$ -$ -$ -$
Licenses and Permits107,472 - - -
Intergovernmental- - - -
Charges for Services- - - -
Fines and Forfeitures- - - -
Investment Income69,499 92 568 131
Miscellaneous10,448 - - -
Total Revenues187,419 92 568 131
EXPENDITURES:
Current:
General Government- - - -
Public Safety- - - -
Physical Environment2,672 - 912 1,317
Transportation- - - -
Economic Environment- - - -
Human Services- - - -
Culture and Recreation- - - -
Court Related- - - -
Capital Projects- - - -
Total Expenditures2,672 - 912 1,317
Excess/Deficiency of Revenues
Over (Under) Expenditures184,747 92 (344) (1,186)
OTHER FINANCING SOURCES (USES):
Transfers from Other Funds 1,051 -- -
Transfers to Other Funds (2,000) - - -
Total Other Financing Sources (Uses) (949) - - -
Net Change in Fund Balances 183,798 92 (344) (1,186)
Fund Balances - October 1 1,046,290 509 265,996 49,186
$ 1,230,088$ 601$ 265,652$ 48,000
Fund Balances - September 30
H-19
REVENUE FUNDS
Sheriff'sSheriff'sSheriff's
Canal #266BuildingTeen Federal State
MSBUFundCourtForfeitureForfeiture
$ --$ -$ -$ -$
5,879,58628,973 - - -
-- - 557,941 -
124,364- 60,195 - -
-- - - 44,881
6,264101 - 17,035 94
40,073- - 254,055 -
6,050,28729,074 60,195 829,031 44,975
-- - - -
4,848,603- 63,665 1,107,769 10,646
-18,489 - - -
-- - - -
-- - - -
-- - - -
-- - - -
-- - - -
- - - - -
18,489 4,848,603 63,665 1,107,769 10,646
10,585 1,201,684 (3,470) (278,738) 34,329
138,233- 3,470 - -
(184,159)- - - -
(45,926)- 3,470 - -
10,585 1,155,758 (278,738)- 34,329
29,589 2,307,335 3,749,841- 617,324
$ 40,174$ 3,463,093$ 3,471,103-$ $ 651,653
(Continued)
H-20
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
SPECIAL
Sheriff'sSheriff'sSheriff's
ContractSheriff'sInteragencyTrauma
AdministrativeCommissaryCommunicationsStar
REVENUES:
Taxes-$ -$ -$ -$
Licenses and Permits- - - -
Intergovernmental1,147,802 - - -
Charges for Services3,498,492 520,821 31,042 -
Fines and Forfeitures- - - -
Investment Income5,060 5,528 786 -
Miscellaneous- 18,832 - -
Total Revenues4,651,354 545,181 31,828 -
EXPENDITURES:
Current:
General Government- - - -
Public Safety4,619,859 487,662 195,802 5,069,605
Physical Environment- - - -
Transportation- - - -
Economic Environment- - - -
Human Services- - - -
Culture and Recreation- - - -
Court Related- - - -
Capital Projects- - - -
Total Expenditures4,619,859 487,662 195,802 5,069,605
Excess/Deficiency of Revenues
Over (Under) Expenditures31,495 57,519 (163,974) (5,069,605)
OTHER FINANCING SOURCES (USES):
Transfers from Other Funds 14,550 205,238- 5,081,032
Transfers to Other Funds - - (11,427)-
Total Other Financing Sources (Uses) 14,550 205,238- 5,069,605
Net Change in Fund Balances 46,045 57,519 41,264 -
Fund Balances - October 1 1,291,359 1,057,169 159,470 -
$ 1,337,404$ 1,114,688$ 200,734$ -
Fund Balances - September 30
H-21
REVENUE FUNDS
Sheriff'sSheriff'sClerk'sClerk's
RadioSheriff'sShared AssetSheriff'sRecordsCourt
CommunicationGrantsForfeitureE911ModernizationRelated
$ --$ -$ -$ -$ -$
-- - - - -
439,825- - - - 1,265,769
-69,092 - 457,993 449,819 908,686
-- - - - 2,202,307
-- 12,022 7,979 8,207 7,965
-- - - - 959
439,82569,092 12,022 465,972 458,026 4,385,686
-- - - - -
1,066,166743,462 123,206 556,479 - -
-- - - - -
-- - - - -
-- - - - -
-- - - - -
- - - - - -
- - - - 4,487,945-
- - - - - -
743,462 1,066,166 123,206 556,479 4,487,945-
(674,370) (626,341) (111,184) (90,507) 458,026 (102,259)
696,385 344,810 - - 1,452,100-
(22,015) - - - (1,349,841)-
674,370 344,810 - - 102,259-
(281,531)- (111,184) (90,507) 458,026 -
255,155- 5,159,290 1,392,253 2,814,152 -
$ (26,376)-$ $ 5,048,106$ 1,301,746$ 3,272,178$ -
(Continued)
H-22
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
CAPITAL
Total NonmajorClerk'sInfrastructureBig Coppitt
Special RevRevenueRevenue BondsWastewater
FundsNoteSeries 2007Project
REVENUES:
Taxes82,279,100$ -$ -$ -$
Licenses and Permits6,340,810 - - 358,021
Intergovernmental11,128,515 - - -
Charges for Services16,357,759 - - -
Fines and Forfeitures5,872,449 - - -
Investment Income371,996 159 528 45,775
Miscellaneous782,679 - - 31,006
Total Revenues123,133,308 159 528 434,802
EXPENDITURES:
Current:
General Government3,171,003 - - -
Public Safety35,937,282 - - -
Physical Environment1,441,793 - - -
Transportation9,275,906 - - -
Economic Environment29,779,520 - - -
Human Services2,316,413 - - -
Culture and Recreation3,769,560 - - -
Court Related5,258,078 - - -
Capital Projects- - - 15,451
Total Expenditures90,949,555 - - 15,451
Excess/Deficiency of Revenues
Over (Under) Expenditures32,183,753 159 528 419,351
OTHER FINANCING SOURCES (USES):
Transfers from Other Funds 10,553,033 - - 867
Transfers to Other Funds (13,705,203) (2,500,000) (681,999)-
Total Other Financing Sources (Uses)(3,152,170) (2,500,000) (681,132)-
Net Change in Fund Balances 29,031,583 (2,499,841) 528 (261,781)
Fund Balances - October 1 110,207,689 2,612,285 185,558 598,824
$ 139,239,272$ 112,444$ 186,086$ 337,043
Fund Balances - September 30
(Continued)
H-23
PROJECT FUNDS
Total
Duck KeyLong KeyLand Nonmajor
WastewaterWastewater AcquisitionGovernmental
ProjectProjectFundFunds
$ --$ -$ 82,279,100$
-86,771 - 6,785,602
-- 6,210 11,134,725
-- - 16,357,759
-- - 5,872,449
2,11612,029 1,651 434,254
-6,573 256,309 1,076,567
2,116105,373 264,170 123,940,456
-- - 3,171,003
-- - 35,937,282
-- - 1,441,793
-- - 9,275,906
-- - 29,779,520
-- - 2,316,413
-- - 3,769,560
-- - 5,258,078
-350 102,808 118,609
-350 102,808 91,068,164
2,116105,023 161,362 32,872,292
184 - 10,554,084-
(305,836)- (17,193,038)-
184 (305,836) (6,638,954)-
105,207 (303,720) 161,362 26,233,338
517,303 702,602 800,261 115,624,522
$ 622,510$ 398,882$ 961,623$ 141,857,860
H-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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income3,000$ 3,000$ 919$ (2,081)$
Total Revenues3,000 3,000 919 (2,081)
EXPENDITURES:
Current:
Economic Environment:
Affordable Housing Initiatives290,000 290,000 - 290,000
Total Expenditures290,000 290,000 - 290,000
Excess/Deficiency of Revenues
Over (Under) Expenditures(287,000) (287,000) 919 287,919
Other Financing Sources (Uses):
Reserve for Contingencies(12,850) (12,850) - 12,850
Reserve for Cash Balance(15,000) (15,000) - 15,000
Total Other Financing Sources (Uses)(27,850) (27,850) - 27,850
Net Change in Fund Balances (314,850)(314,850) 919 315,769
Fund Balances - October 1 314,850314,850 415,372 100,522
Fund Balances - September 30 $ --$ 416,291$ 416,291$
H-25
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
ROAD AND BRIDGE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes2,456,542$ 2,456,542$ 3,000,677$ 544,135$
Intergovernmental3,485,789 3,552,713 3,713,038 160,325
Charges for Services34,000 34,000 3,870 (30,130)
Investment Income150,000 150,000 23,118 (126,882)
Miscellaneous30,000 30,000 21,202 (8,798)
Total Revenues6,156,331 6,223,255 6,761,905 538,650
EXPENDITURES:
Current:
Transportation:
Road Department4,198,699 4,258,633 3,751,996 506,637
County Engineer Road and Bridge652,283 752,283 718,796 33,487
Street Lighting183,618 183,618 140,296 43,322
Local Option Gas Tax Projects362,583 369,573 268,201 101,372
80% Gas Tax650,000 650,000 137,564 512,436
Roadway Projects3,137,194 5,834,751 3,145,854 2,688,897
Sugarloaf Blvd Bridge2,596,846 870,846 8,574 862,272
Sustainability Roads939,009 939,009 646,339 292,670
Total Expenditures12,720,232 13,858,713 8,817,620 5,041,093
Excess/Deficiency of Revenues
Over (Under) Expenditures(6,563,901) (7,635,458) (2,055,715) 5,579,743
Other Financing Sources (Uses):
Reserve for Contingencies(1,215,237) (143,680) - 143,680
Reserve for Cash Balance(2,202,476) (2,202,476) - 2,202,476
Transfers from Other Funds- 91,546- 91,546
Transfers to Other Funds(408,919) (408,919) (408,919) -
Total Other Financing Sources (Uses)(3,826,632) (2,755,075) (317,373) 2,437,702
Net Change in Fund Balances (10,390,533)(10,390,533) (2,373,088) 8,017,445
Fund Balances - October 1 10,390,53310,390,533 10,569,561 179,028
Fund Balances - September 30 $ --$ 8,196,473$ 8,196,473$
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes4,963,875$ 4,963,875$ 9,199,632$ 4,235,757$
Investment Income- - 16,422 16,422
Total Revenues4,963,875 4,963,875 9,216,054 4,252,179
EXPENDITURES:
Current:
Economic Environment:
Cultural Umbrella864,756 864,756 472,882 391,874
Fishing Umbrella705,000 705,000 593,040 111,960
Dive Umbrella650,000 650,000 591,767 58,233
Operations - Events3,018,043 3,018,043 1,823,881 1,194,162
Catastrophic Emergency1,827,833 1,827,833 - 1,827,833
Special Projects1,535,961 1,535,961 368,998 1,166,963
Total Expenditures8,601,593 8,601,593 3,850,568 4,751,025
Excess/Deficiency of Revenues
Over (Under) Expenditures(3,637,718) (3,637,718) 5,365,486 9,003,204
Other Financing Sources (Uses):
Transfers to Other Funds(72,713) (72,713) (83,681) (10,968)
Transfers from Other Funds- - 104,051 104,051
Total Other Financing Sources (Uses)(72,713) (72,713) 20,370 93,083
Net Change in Fund Balances (3,710,431)(3,710,431) 5,385,856 9,096,287
Fund Balances - October 1 3,710,4313,710,431 6,609,778 2,899,347
Fund Balances - September 30 $ --$ 11,995,634$ 11,995,634$
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes10,286,125$ 10,286,125$ 19,063,445$ 8,777,320$
Investment Income- - 24,937 24,937
Total Revenues10,286,125 10,286,125 19,088,382 8,802,257
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion9,506,433 9,506,433 8,435,868 1,070,565
Administrative Services1,339,490 1,339,490 277,682 1,061,808
Catastrophic Emergency1,626,982 1,626,982 - 1,626,982
Special Projects- - - -
Total Expenditures12,472,905 12,472,905 8,713,550 3,759,355
Excess/Deficiency of Revenues
Over (Under) Expenditures(2,186,780) (2,186,780) 10,374,832 12,561,612
Other Financing Sources (Uses):
Transfers to Other Funds(114,278) (114,278) (131,387) (17,109)
Transfers from Other Funds- - 193,238 193,238
Total Other Financing Sources (Uses)(114,278) (114,278) 61,851 176,129
Net Change in Fund Balances (2,301,058)(2,301,058) 10,436,683 12,737,741
Fund Balances - October 1 2,301,0582,301,058 9,557,394 7,256,336
Fund Balances - September 30 $ --$ 19,994,077$ 19,994,077$
H-28
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, DISTRICT ONE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes8,256,350$ 8,256,350$ 13,114,955$ 4,858,605$
Investment Income- - 32,922 32,922
Total Revenues8,256,350 8,256,350 13,147,877 4,891,527
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion5,150,242 5,150,242 4,871,111 279,131
Administrative Services474,666 474,666 402,089 72,577
Special Events680,462 680,462 147,163 533,299
Bricks and Mortar10,558,513 10,558,513 3,009,864 7,548,649
Information Services402,950 402,950 402,949 1
Beaches314,047 314,047 - 314,047
Total Expenditures17,580,880 17,580,880 8,833,176 8,747,704
Excess/Deficiency of Revenues
Over (Under) Expenditures(9,324,530) (9,324,530) 4,314,701 13,639,231
Other Financing Sources (Uses):
Transfers to Other Funds(54,392) (54,392) (216,439) (162,047)
Transfers from Other Funds- - 144,367 144,367
Total Other Financing Sources (Uses)(54,392) (54,392) (72,072) (17,680)
Net Change in Fund Balances (9,378,922)(9,378,922) 4,242,629 13,621,551
Fund Balances - October 1 9,378,9229,378,922 13,764,880 4,385,958
Fund Balances - September 30 $ --$ 18,007,509$ 18,007,509$
H-29
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, DISTRICT TWO SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes962,275$ 962,275$ 2,349,939$ 1,387,664$
Investment Income- - 5,360 5,360
Total Revenues962,275 962,275 2,355,299 1,393,024
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion682,736 675,736 613,816 61,920
Administrative Services40,971 47,971 42,998 4,973
Bricks and Mortar1,025,655 1,025,655 121,262 904,393
Information Services100,548 100,548 100,548 -
Total Expenditures1,849,910 1,849,910 878,624 971,286
Excess/Deficiency of Revenues
Over (Under) Expenditures(887,635) (887,635) 1,476,675 2,364,310
Other Financing Sources (Uses):
Transfers to Other Funds(14,975) (14,975) (16,571) (1,596)
Transfers from Other Funds- - 27,354 27,354
Total Other Financing Sources (Uses)(14,975) (14,975) 10,783 25,758
Net Change in Fund Balances (902,610)(902,610) 1,487,458 2,390,068
Fund Balances - October 1 902,610902,610 1,592,529 689,919
Fund Balances - September 30 $ --$ 3,079,987$ 3,079,987$
H-30
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, DISTRICT THREE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes2,423,225$ 2,423,225$ 5,150,532$ 2,727,307$
Investment Income- - 10,674 10,674
Total Revenues2,423,225 2,423,225 5,161,206 2,737,981
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion1,273,673 1,273,673 1,209,075 64,598
Administrative Services123,408 123,408 107,881 15,527
Special Events26,000 26,000 - 26,000
Bricks and Mortar2,953,672 2,953,672 1,221,549 1,732,123
Information Services176,400 176,400 176,400 -
Total Expenditures4,553,153 4,553,153 2,714,905 1,838,248
Excess/Deficiency of Revenues
Over (Under) Expenditures(2,129,928) (2,129,928) 2,446,301 4,576,229
Other Financing Sources (Uses):
Transfers to Other Funds(13,595) (13,595) (17,612) (4,017)
Transfers from Other Funds- - 54,880 54,880
Total Other Financing Sources (Uses)(13,595) (13,595) 37,268 50,863
Net Change in Fund Balances (2,143,523)(2,143,523) 2,483,569 4,627,092
Fund Balances - October 1 2,143,5232,143,523 4,395,888 2,252,365
Fund Balances - September 30 $ --$ 6,879,457$ 6,879,457$
H-31
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, DISTRICT FOUR SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes1,497,550$ 1,497,550$ 3,170,633$ 1,673,083$
Investment Income- - 6,560 6,560
Total Revenues1,497,550 1,497,550 3,177,193 1,679,643
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion961,818 951,818 901,166 50,652
Administrative Services65,067 75,067 66,570 8,497
Special Events37,249 37,249 22,076 15,173
Bricks and Mortar1,359,781 1,359,781 197,187 1,162,594
Information Services165,375 165,375 165,375 -
Total Expenditures2,589,290 2,589,290 1,352,374 1,236,916
Excess/Deficiency of Revenues
Over (Under) Expenditures(1,091,740) (1,091,740) 1,824,819 2,916,559
Other Financing Sources (Uses):
Transfers to Other Funds(13,002) (13,002) (15,483) (2,481)
Transfers from Other Funds- - 33,386 33,386
Total Other Financing Sources (Uses)(13,002) (13,002) 17,903 30,905
Net Change in Fund Balances (1,104,742)(1,104,742) 1,842,722 2,947,464
Fund Balances - October 1 1,104,7421,104,742 2,499,252 1,394,510
Fund Balances - September 30 $ --$ 4,341,974$ 4,341,974$
H-32
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, DISTRICT FIVE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes2,110,600$ 2,110,600$ 4,477,016$ 2,366,416$
Investment Income- - 6,876 6,876
Miscellaneous- - 7 7
Total Revenues2,110,600 2,110,600 4,483,899 2,373,299
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion1,650,743 1,650,743 1,474,747 175,996
Administrative Services107,159 107,159 94,508 12,651
Information Services156,555 156,555 156,555 -
Special Events16,640 16,640 - 16,640
Bricks and Mortar2,491,824 2,491,824 522,291 1,969,533
Total Expenditures4,422,921 4,422,921 2,248,101 2,174,820
Excess/Deficiency of Revenues
Over (Under) Expenditures(2,312,321) (2,312,321) 2,235,798 4,548,119
Other Financing Sources (Uses):
Transfers to Other Funds(26,318) (26,318) (29,726) (3,408)
Transfers from Other Funds- - 50,904 50,904
Total Other Financing Sources (Uses)(26,318) (26,318) 21,178 47,496
Net Change in Fund Balances (2,338,639)(2,338,639) 2,256,976 4,595,615
Fund Balances - October 1 2,338,6392,338,639 3,593,015 1,254,376
Fund Balances - September 30 $ --$ 5,849,991$ 5,849,991$
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Licenses and Permits106,000$ 106,000$ 109,138$ 3,138$
Investment Income10,525 10,525 3,673 (6,852)
Miscellaneous- - - -
Total Revenues116,525 116,525 112,811 (3,714)
EXPENDITURES:
Current:
Transportation:
Roadway Projects440,830 240,050 - 240,050
Truman Bridge Ped Bridge929,520 - - -
Bike Lanes/Shared Use Path- 112,780 21,946 90,834
Bimini Drive Bridge- 1,017,520 436,340 581,180
Key Colony Beach Road Project41,926 41,926 - 41,926
Total Expenditures1,412,276 1,412,276 458,286 953,990
Excess/Deficiency of Revenues
Over (Under) Expenditures(1,295,751) (1,295,751) (345,475) 950,276
Net Change in Fund Balances (1,295,751)(1,295,751) (345,475) 950,276
Fund Balances - October 1 1,295,7511,295,751 1,533,732 237,981
Fund Balances - September 30 $ --$ 1,188,257$ 1,188,257$
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Licenses and Permits41,200$ 41,200$ 32,300$ (8,900)$
Investment Income1,200 1,200 1,203 3
Total Revenues42,400 42,400 33,503 (8,897)
EXPENDITURES:
Current:
Culture and Recreation:
District 1 Projects240,716 240,716 - 240,716
District 2 Projects250,936 250,936 - 250,936
District 3 Projects234,482 34,482 - 34,482
Key Largo Pickleball- 200,000 - 200,000
Total Expenditures726,134 726,134 - 726,134
Excess/Deficiency of Revenues
Over (Under) Expenditures(683,734) (683,734) 33,503 717,237
Net Change in Fund Balances (683,734)(683,734) 33,503 717,237
Fund Balances - October 1 683,734683,734 808,109 124,375
Fund Balances - September 30 $ --$ 841,612$ 841,612$
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income2,700$ 2,700$ 2,755$ 55$
Total Revenues2,700 2,700 2,755 55
EXPENDITURES:
Current:
Culture and Recreation:
County-wide Library Projects1,207,190 1,207,190 1,079,554 127,636
Library Automation25,000 25,000 - 25,000
Total Expenditures1,232,190 1,232,190 1,079,554 152,636
Excess/Deficiency of Revenues
Over (Under) Expenditures(1,229,490) (1,229,490) (1,076,799) 152,691
Net Change in Fund Balances (1,229,490)(1,229,490) (1,076,799) 152,691
Fund Balances - October 1 1,229,4901,229,490 1,249,561 20,071
Fund Balances - September 30 $ --$ 172,762$ 172,762$
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income300$ 300$ 383$ 83$
Total Revenues300 300 383 83
EXPENDITURES:
Current:
Physical Environment:
County-wide Solid Waste Projects115,804 115,804 - 115,804
Total Expenditures115,804 115,804 - 115,804
Excess/Deficiency of Revenues
Over (Under) Expenditures(115,504) (115,504) 383 115,887
Net Change in Fund Balances (115,504)(115,504) 383 115,887
Fund Balances - October 1 115,504115,504 127,606 12,102
Fund Balances - September 30 $ --$ 127,989$ 127,989$
H-37
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Licenses and Permits15,700$ 15,700$ 16,491$ 791$
Investment Income131 131 356 225
Total Revenues15,831 15,831 16,847 1,016
EXPENDITURES:
Current:
Public Safety:
District 1 Fire & EMS Project58,436 58,436 - 58,436
District 2 Fire & EMS Project4,891 4,891 - 4,891
District 3 Fire & EMS Project80,381 80,381 - 80,381
Key Colony Beach Fire & EMS1,088 1,088 - 1,088
Total Expenditures144,796 144,796 - 144,796
Excess/Deficiency of Revenues
Over (Under) Expenditures(128,965) (128,965) 16,847 145,812
Net Change in Fund Balances (128,965)(128,965) 16,847 145,812
Fund Balances - October 1 128,965128,965 156,619 27,654
Fund Balances - September 30 $ --$ 173,466$ 173,466$
H-38
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes13,566,001$ 13,566,001$ 13,069,581$ (496,420)$
Intergovernmental38,000 38,000 125,703 87,703
Charges for Services650,000 650,000 767,314 117,314
Investment Income83,000 83,000 20,608 (62,392)
Miscellaneous- - 49,158 49,158
Total Revenues14,337,001 14,337,001 14,032,364 (304,637)
EXPENDITURES:
Current:
Public Safety:
Fire Rescue - Central12,256,224 12,252,474 12,042,147 210,327
Total Public Safety12,256,224 12,252,474 12,042,147 210,327
Excess/Deficiency of Revenues
Over (Under) Expenditures2,080,777 2,084,527 1,990,217 (94,310)
Other Financing Sources (Uses):
Reserve for Contingencies(599,319) (599,319) - 599,319
Reserve for Cash Balance(1,228,773) (1,228,773) - 1,228,773
Transfers to Other Funds(1,809,076) (1,812,826) (1,785,372) 27,454
Transfers from Other Funds180,000 180,000 990,399 810,399
Total Other Financing Sources (Uses)(3,457,168) (3,460,918) (794,973) 2,665,945
Net Change in Fund Balances (1,376,391)(1,376,391) 1,195,244 2,571,635
Fund Balances - October 1 1,376,3911,376,391 4,974,285 3,597,894
Fund Balances - September 30 $ --$ 6,169,529$ 6,169,529$
H-39
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes2,452,979$ 2,452,979$ 2,374,520$ (78,459)$
Intergovernmental536,352 537,191 758,546 221,355
Charges for Services- - 174,805 174,805
Investment Income6,000 6,000 4,485 (1,515)
Miscellaneous55,000 55,000 29,760 (25,240)
Total Revenues3,050,331 3,051,170 3,342,116 290,946
EXPENDITURES:
Current:
Culture and Recreation:
Parks and Beaches Unincorporated2,339,672 2,490,511 2,405,334 85,177
Jacob's Aquatic Center180,000 180,000 180,000 -
School Board Interlocal32,000 32,000 32,000 -
Total Expenditures2,551,672 2,702,511 2,617,334 85,177
Excess/Deficiency of Revenues
Over (Under) Expenditures498,659 348,659 724,782 376,123
Other Financing Sources (Uses):
Reserve for Contingencies(163,570) (13,570) - 13,570
Reserve for Cash Balance(183,747) (183,747) - 183,747
Transfers to Other Funds(405,215) (405,215) (69,733) 335,482
Transfers from Other Funds- - 70,563 70,563
Total Other Financing Sources (Uses)(752,532) (602,532) 830 603,362
Net Change in Fund Balances (253,873)(253,873) 725,612 979,485
Fund Balances - October 1 253,873253,873 1,129,894 876,021
Fund Balances - September 30 $ -$ 1,855,506-$ $ 1,855,506
H-40
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes462,945$ 462,945$ 487,137$ 24,192$
Intergovernmental1,823,596 1,823,596 2,564,822 741,226
Charges for Services3,155,000 3,155,000 3,316,141 161,141
Fines and Forfeitures2,185,000 2,185,000 2,705,259 520,259
Investment Income125,000 125,000 18,473 (106,527)
Miscellaneous- 54,691 65,440 10,749
Total Revenues7,751,541 7,806,232 9,157,272 1,351,040
Expenditures:
Current:
General Government:
Affordable Housing38,214 15,744 15,799 (55)
Planning Department2,534,908 2,770,078 2,317,095 452,983
Planning Commission88,409 88,409 82,420 5,989
Planning Legal956,511 794,449 749,969 44,480
Planning Building Refunds20,000 20,000 4,720 15,280
Total General Government3,638,042 3,688,680 3,170,003 518,677
Public Safety:
Code Enforcement1,908,807 1,880,107 1,608,534 271,573
Fire and Rescue Coordinator1,198,054 1,348,054 1,307,882 40,172
Fire Marshall808,462 808,462 760,536 47,926
Total Public Safety3,915,323 4,036,623 3,676,952 359,671
Physical Environment:
Environmental Resources538,477 663,477 569,444 94,033
Total Physical Environment538,477 663,477 569,444 94,033
Total Expenditures 8,091,842 8,388,780 7,416,399 972,381
Excess/Deficiency of Revenues
Over (Under) Expenditures (340,301) (582,548) 1,740,873 2,323,421
(Continued)
H-41
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
Other Financing Sources (Uses):
Reserve for Contingencies(349,693) - - -
Reserve for Cash Balance(1,300,000) (1,300,000) - 1,300,000
Transfers to Other Funds(1,433,964) (1,541,410) (1,501,895) 39,515
Transfers from Other Funds10,000 10,000 759,635 749,635
Total Other Financing Sources (Uses)(3,073,657) (2,831,410) (742,260) 2,089,150
Net Change in Fund Balances (3,413,958)(3,413,958) 998,613 4,412,571
Fund Balances - October 1 3,413,9583,413,958 6,601,022 3,187,064
Fund Balances - September 30 $ --$ 7,599,635$ 7,599,635$
H-42
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes4,959,208$ 4,959,208$ 4,796,240$ (162,968)$
Charges for Services4,078,030 4,214,085 4,084,273 (129,812)
Investment Income21,000 21,000 7,890 (13,110)
Total Revenues9,058,238 9,194,293 8,888,403 (305,890)
EXPENDITURES:
Current:
Public Safety:
Insurance Unincorporated and Layton617,731 617,731 520,140 97,591
Insurance Islamorada255,049 255,049 215,913 39,136
Insurance Marathon231,564 231,564 194,967 36,597
Total Expenditures1,104,344 1,104,344 931,020 173,324
Excess/Deficiency of Revenues
Over (Under) Expenditures7,953,894 8,089,949 7,957,383 (132,566)
Other Financing Sources (Uses):
Reserve for Contingencies(177,924) (176,914) - 176,914
Reserve for Cash Balance(900,001) (900,001) - 900,001
Transfers to Other Funds(7,825,436) (7,962,501) (7,821,120) 141,381
Transfers from Other Funds355,000 355,000 51,128 (303,872)
Total Other Financing Sources (Uses)(8,548,361) (8,684,416) (7,769,992) 914,424
Net Change in Fund Balances (594,467)(594,467) 187,391 781,858
Fund Balances - October 1 594,467594,467 2,378,359 1,783,892
Fund Balances - September 30 $ --$ 2,565,750$ 2,565,750$
H-43
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Licenses and Permits129,731$ 129,731$ 114,602$ (15,129)$
Investment Income4,500 4,500 2,861 (1,639)
Total Revenues134,231 134,231 117,463 (16,768)
EXPENDITURES:
Current:
Public Safety:
Island Security155,723 155,723 131,757 23,966
Total Expenditures155,723 155,723 131,757 23,966
Excess/Deficiency of Revenues
Over (Under) Expenditures(21,492) (21,492) (14,294) 7,198
Other Financing Sources (Uses):
Reserve for Contingencies(15,000) (15,000) - 15,000
Reserve for Cash Balance(30,000) (30,000) - 30,000
Transfers to Other Funds(1,100) (1,100) - 1,100
Transfers from Other Funds- - 526 526
Total Other Financing Sources (Uses)(46,100) (46,100) 526 46,626
Net Change in Fund Balances (67,592)(67,592) (13,768) 53,824
Fund Balances - October 1 67,59267,592 353,852 286,260
Fund Balances - September 30 $ --$ 340,084$ 340,084$
H-44
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
LOCAL HOUSING ASSISTANCE
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Intergovernmental475,000$ 475,000$ 526,649$ 51,649$
Investment Income10,000 10,000 4,240 (5,760)
Miscellaneous180,000 180,000 291,196 111,196
Total Revenues665,000 665,000 822,085 157,085
EXPENDITURES:
Current:
Economic Environment:
Homeowner Assistance2,623,192 1,810,000 940,374 869,626
Disaster Recovery & Mitigation554,055 830,753 247,938 582,815
Total Expenditures3,177,247 2,640,753 1,188,312 1,452,441
Excess/Deficiency of Revenues
Over (Under) Expenditures(2,512,247) (1,975,753) (366,227) 1,609,526
Other Financing Sources (Uses):
Reserve for Contingencies (15,000) (551,494) - 551,494
Reserve for Cash Balance(15,000) (15,000) - 15,000
Total Other Financing Sources (Uses)(30,000) (566,494) - 566,494
Net Change in Fund Balances (2,542,247)(2,542,247) (366,227) 2,176,020
Fund Balances - October 1 2,542,2472,542,247 2,067,952 (474,295)
Fund Balances - September 30 $ --$ 1,701,725$ 1,701,725$
H-45
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Charges for Services755,000$ 755,000$ 759,309$ 4,309$
Intergovernmental- 28,420 28,420 -
Investment Income40,000 40,000 7,475 (32,525)
Miscellaneous- - 1,550 1,550
Total Revenues795,000 823,420 796,754 (26,666)
EXPENDITURES:
Current:
Physical Environment:
Boating Improvement1,229,698 1,250,287 262,517 987,770
Boating Imp Fees/Retained Vessel540,240 540,240 302,571 237,669
Total Expenditures1,769,938 1,790,527 565,088 1,225,439
Excess/Deficiency of Revenues
Over (Under) Expenditures(974,938) (967,107) 231,666 1,198,773
Other Financing Sources (Uses):
Reserve for Contingencies(200,000) (200,000) - 200,000
Reserve for Cash Balance(350,000) (350,000) - 350,000
Transfers to Other Funds- (7,831) (3,131) 4,700
Total Other Financing Sources (Uses)(550,000) (557,831) (3,131) 554,700
Net Change in Fund Balances (1,524,938)(1,524,938) 228,535 1,753,473
Fund Balances - October 1 1,524,9381,524,938 3,339,094 1,814,156
Fund Balances - September 30 $ --$ 3,567,629$ 3,567,629$
H-46
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Licenses and Permits-$ 29,024$ 52,244$ 23,220$
Charges for Services- 305,347 505,541 200,194
Fines and Forfeitures- 64,818 306,298 241,480
Investment Income- - 7,141 7,141
Miscellaneous- - 3 3
Total Revenues- 399,189 871,227 472,038
EXPENDITURES:
Current:
Public Safety:
Education-Building Department88,400 116,964 39,050 77,914
Environmental Resource Education50,000 50,450 19,133 31,317
Fire and Rescue Bldg Education5,000 5,010 - 5,010
Crime Prevention Program50,000 50,000 205,299 (155,299)
Interagency Communications- - - -
Total Public Safety193,400 222,424 263,482 (41,058)
Human Services:
FL Keys Council for the Handicapped3,000 3,000 - 3,000
Bayshore Donations1,557 1,557 - 1,557
Traffic Education, Ord 021-200250,000 99,405 72,788 26,617
Legal Aid- 19,764 19,699 65
Total Human Services54,557 123,726 92,487 31,239
Culture and Recreation:
Settler's Park Landscaping2,633 2,633 - 2,633
Library Special Programs30,000 59,693 - 59,693
Library Donation-Golan Trust 250,000 291,537 72,672 218,865
Total Culture and Recreation 282,633 353,863 72,672 281,191
(Continued)
H-47
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
Court Related:
Ord 016-2004 St Court Sup 28,600 45,764 49,414 (3,650)
SA Ct Tech FS28.24(12)(E) 335,000 406,008 190,641 215,367
PD Ct Tech FS28.24(12)(E) 100,000 147,338 33,547 113,791
J Ct Tech FS28.24(12)(E) 100,437 218,781 113,951 104,830
Total Court Related 564,037 817,891 387,553 430,338
Total Expenditures 1,094,627 1,517,904 816,194 701,710
Excess/Deficiency of Revenues
Over (Under) Expenditures (1,094,627) (1,118,715) 55,033 1,173,748
Other Financing Sources (Uses):
Reserve for Contingencies (1,246,893) (1,112,477) 1,112,477-
Transfers to Other Funds (140,000) (250,328) 250,328-
Total Other Financing Sources (Uses)(1,386,893) (1,362,805) 1,362,805-
Net Change in Fund Balances (2,481,520)(2,481,520) 55,033 2,536,553
Fund Balances - October 1 2,481,5202,481,520 3,134,598 653,078
Fund Balances - September 30 $ --$ 3,189,631$ 3,189,631$
H-48
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Fines and Forfeitures650,000$ 650,000$ 613,704$ (36,296)$
Investment Income15,000 15,000 9,894 (5,106)
Miscellaneous Income- - - -
Total Revenues665,000 665,000 623,598 (41,402)
EXPENDITURES:
Current:
Physical Environment:
Environmental Restoration506,798 506,798 283,871 222,927
Total Environmental Restoration506,798 506,798 283,871 222,927
Culture and Recreation:
Settler's Park9,083 9,083 - 9,083
Total Culture and Recreation9,083 9,083 - 9,083
Total Expenditures515,881 515,881 283,871 232,010
Excess/Deficiency of Revenues
Over (Under) Expenditures149,119 149,119 339,727 190,608
Other Financing Sources (Uses):
Reserve for Contingencies(63,175) (28,175) - 28,175
Reserve for Cash Balance(126,350) (126,350) - 126,350
Transfers from Other Funds- - 59 59
Transfers to Other Funds- (35,000) (34,602) 398
Total Other Financing Sources (Uses)(189,525) (189,525) (34,543) 154,982
Net Change in Fund Balances (40,406)(40,406) 305,184 345,590
Fund Balances - October 1 40,40640,406 4,344,861 4,304,455
Fund Balances - September 30 $ --$ 4,650,045$ $ 4,650,045
H-49
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Charges for Services475,000$ 475,000$ 591,792$ 116,792$
Investment Income40,000 40,000 9,971 (30,029)
Total Revenues515,000 515,000 601,763 86,763
EXPENDITURES:
Current:
Court Related:
Court Facility994,138 994,138 382,580 611,558
Total Expenditures994,138 994,138 382,580 611,558
Excess/Deficiency of Revenues
Over (Under) Expenditures(479,138) (479,138) 219,183 698,321
Other Financing Sources (Uses):
Reserve for Contingencies(50,000) (50,000) - 50,000
Reserve for Cash Balance(45,000) (45,000) - 45,000
Transfers from Other Funds- - 5,867 5,867
Total Other Financing Sources (Uses)(95,000) (95,000) 5,867 100,867
Net Change in Fund Balances (574,138)(574,138) 225,050 799,188
Fund Balances - October 1 574,138574,138 4,581,780 4,007,642
Fund Balances - September 30 $ --$ 4,806,830$ 4,806,830$
H-50
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Charges for Services30,000$ 30,000$ 34,210$ 4,210$
Investment Income1,000 1,000 526 (474)
Total Revenues31,000 31,000 34,736 3,736
EXPENDITURES:
Current:
Human Services:
Drug Abuse Trust Fund57,000 57,000 37,741 19,259
Total Expenditures57,000 57,000 37,741 19,259
Excess/Deficiency of Revenues
Over (Under) Expenditures(26,000) (26,000) (3,005) 22,995
Other Financing Sources (Uses):
Reserve for Contingencies(5,000) (5,000) - 5,000
Total Other Financing Sources (Uses)(10,000) (10,000) - 10,000
Net Change in Fund Balances (36,000)(36,000) (3,005) 32,995
Fund Balances - October 1 36,00036,000 50,605 14,605
Fund Balances - September 30 $ -$ 47,600-$ $ 47,600
H-51
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
MARATHON MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income-$ -$ 32$ 32$
Total Revenues- - 32 32
EXPENDITURES:
Current:
Physical Environment:
Marathon Wastewater2,000 2,000 - 2,000
Total Expenditures2,000 2,000 - 2,000
Excess/Deficiency of Revenues
Over (Under) Expenditures(2,000) (2,000) 32 2,032
Other Financing Sources (Uses):
Transfers to Other Funds(300) (300) - 300
Reserve for Contingencies(275) (275) - 275
Total Other Financing Sources (Uses)(575) (575) - 575
Net Change in Fund Balances (2,575)(2,575) 32 2,607
Fund Balances - October 1 2,5752,575 2,732 157
Fund Balances - September 30 $ --$ 2,764$ 2,764$
H-52
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
MIDDLE KEYS HEALTH CARE MUNICIPAL SERVICE TAXING UNIT
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes2,092,407$ 2,092,407$ 2,024,793$ (67,614)$
Investment Income- - 805 805
Total Revenues2,092,407 2,092,407 2,025,598 (66,809)
EXPENDITURES:
Current:
Human Services:
Middle Keys Health Care1,952,733 1,952,133 2,186,185 (234,052)
Total Expenditures1,952,733 1,952,133 2,186,185 (234,052)
Excess/Deficiency of Revenues
Over (Under) Expenditures139,674 140,274 (160,587) (300,861)
Other Financing Sources (Uses):
Transfers to Other Funds(35,054) (35,654) - 35,654
Transfers from Other Funds- - 38,261 38,261
Total Other Financing Sources (Uses)(35,054) (35,654) 38,261 73,915
Net Change in Fund Balances 104,620104,620 (122,326) (226,946)
Fund Balances - October 1 (104,620)(104,620) 122,326 226,946
Fund Balances - September 30 $ --$ -$ -$
H-53
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BAY POINT WASTEWATER MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income-$ -$ 81$ 81$
Total Revenues- - 81 81
EXPENDITURES:
Current:
Physical Environment:
Bay Point Wastewater46,139 46,139 - 46,139
Total Expenditures46,139 46,139 - 46,139
Excess/Deficiency of Revenues
Over (Under) Expenditures(46,139) (46,139) 81 46,220
Other Financing Sources (Uses):
Reserve for Contingencies(2,000) (2,000) - 2,000
Total Other Financing Sources (Uses)(2,000) (2,000) - 2,000
Net Change in Fund Balances (48,139)(48,139) 81 48,220
Fund Balances - October 1 48,13948,139 48,440 301
Fund Balances - September 30 $ --$ 48,521$ 48,521$
H-54
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BIG COPPITT WASTEWATER MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income-$ -$ 5$ 5$
Total Revenues- - 5 5
EXPENDITURES:
Current:
Physical Environment:
Big Coppitt Wastewater400 400 - 400
Total Expenditures400 400 - 400
Excess/Deficiency of Revenues
Over (Under) Expenditures(400) (400) 5 405
Other Financing Sources (Uses):
Reserve for Contingencies (68) (68) - 68
Total Other Financing Sources (Uses)(68) (68) - 68
Net Change in Fund Balances (468)(468) 5 473
Fund Balances - October 1 468468 531 63
Fund Balances - September 30 $ --$ 536$ 536$
H-55
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
KEY LARGO MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes-$ -$ -$ -$
Investment Income- - 20 20
Total Revenues- - 20 20
EXPENDITURES:
Current:
Physical Environment:
Key Largo Wastewater8,591 8,591 - 8,591
Total Expenditures8,591 8,591 - 8,591
Excess/Deficiency of Revenues
Over (Under) Expenditures(8,591) (8,591) 20 8,611
Other Financing Sources (Uses):
Reserve for Contingencies (500) (500) - 500
Total Other Financing Sources (Uses)(500) (500) - 500
Net Change in Fund Balances (9,091)(9,091) 20 9,111
Fund Balances - October 1 9,0919,091 9,144 53
Fund Balances - September 30 $ --$ 9,164$ 9,164$
H-56
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
STOCK ISLAND WASTEWATER MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Licenses and Permits140,000$ 140,000$ 107,472$ (32,528)$
Investment Income15,000 15,000 69,499 54,499
Miscellaneous Income- - 10,448 10,448
Total Revenues155,000 155,000 187,419 32,419
EXPENDITURES:
Current:
Physical Environment:
Stock Island Wastewater816,595 816,595 2,672 813,923
Total Expenditures816,595 816,595 2,672 813,923
Excess/Deficiency of Revenues
Over (Under) Expenditures(661,595) (661,595) 184,747 846,342
Other Financing Sources (Uses):
Reserve for Contingencies(30,000) (30,000) - 30,000
Reserve for Cash Balance(50,000) (50,000) - 50,000
Transfers to Other Funds(5,000) (5,000) (2,000) 3,000
Transfers from Other Funds400 400 1,051 651
Total Other Financing Sources (Uses)(84,600) (84,600) (949) 83,651
Net Change in Fund Balances (746,195)(746,195) 183,798 929,993
Fund Balances - October 1 746,195746,195 1,046,290 300,095
Fund Balances - September 30 $ --$ 1,230,088$ 1,230,088$
H-57
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
CONCH KEY MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income-$ -$ 92$ 92$
Total Revenues- - 92 92
EXPENDITURES:
Current:
Physical Environment:
Conch Key MSTU409 409 - 409
Total Expenditures409 409 - 409
Excess/Deficiency of Revenues
Over (Under) Expenditures(409) (409) 92 501
Other Financing Sources/(Uses):
Reserve for Contingencies(100) (100) - 100
Total Other Financing Sources/(Uses)(100) (100) - 100
Net Change in Fund Balances (509)(509) 92 601
Fund Balances - October 1 509509 509 -
Fund Balances - September 30 $ --$ 601$ 601$
H-58
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
LONG KEY-LAYTON MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income-$ -$ 568$ 568$
Total Revenues- - 568 568
EXPENDITURES:
Current:
Physical Environment:
Long Key-Layton Wastewater213,587 213,587 912 212,675
Total Expenditures213,587 213,587 912 212,675
Excess/Deficiency of Revenues
Over (Under) Expenditures(213,587) (213,587) (344) 213,243
Other Financing Sources (Uses):
Reserve for Contingencies(15,000) (15,000) - 15,000
Reserve for Cash Balance(33,000) (33,000) - 33,000
Total Other Financing Sources (Uses)(48,000) (48,000) - 48,000
Net Change in Fund Balances (261,587)(261,587) (344) 261,243
Fund Balances - October 1 261,587261,587 265,996 4,409
Fund Balances - September 30 $ --$ 265,652$ 265,652$
H-59
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
DUCK KEY MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income-$ -$ 131$ 131$
Total Revenues- - 131 131
EXPENDITURES:
Current:
Physical Environment:
Duck Key Wastewater44,738 44,738 1,317 43,421
Total Expenditures44,738 44,738 1,317 43,421
Excess/Deficiency of Revenues
Over (Under) Expenditures(44,738) (44,738) (1,186) 43,552
Other Financing Sources (Uses):
Reserve for Contingencies(5,000) (5,000) - 5,000
Total Other Financing Sources (Uses)(5,000) (5,000) - 5,000
Net Change in Fund Balances (49,738)(49,738) (1,186) 48,552
Fund Balances - October 1 49,73849,738 49,186 (552)
Fund Balances - September 30 $ --$ 48,000$ 48,000$
H-60
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
CANAL #266 MUNICIPAL SERVICE BUSINESS UNIT
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Licenses and Permits34,943$ 34,943$ 28,973$ (5,970)$
Investment Income- - 101 101
Total Revenues34,943 34,943 29,074 (5,869)
EXPENDITURES:
Current:
Physical Environment:
Canal #26631,841 31,841 18,489 13,352
Total Expenditures31,841 31,841 18,489 13,352
Excess/Deficiency of Revenues
Over (Under) Expenditures3,102 3,102 10,585 7,483
Other Financing Sources (Uses):
Reserve for Contingencies(5,001) (5,001) - 5,001
Reserve for Cash Balance(10,000) (10,000) - 10,000
Transfers to Other Funds(1,048) (1,048) - 1,048
Total Other Financing Sources (Uses)(16,049) (16,049) - 16,049
Net Change in Fund Balances (12,947)(12,947) 10,585 23,532
Fund Balances - October 1 12,94712,947 29,589 16,642
Fund Balances - September 30 $ --$ 40,174$ 40,174$
H-61
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BUILDING FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Licenses and Permits5,580,000$ 5,580,000$ 5,879,586$ 299,586$
Charges for Services120,000 120,000 124,364 4,364
Investment Income40,000 40,000 6,264 (33,736)
Miscellaneous33,000 33,000 40,073 7,073
Total Revenues5,773,000 5,773,000 6,050,287 277,287
EXPENDITURES:
Current:
Public Safety
Building Department 5,231,7154,797,215 4,760,994 470,721
Building Department Legal72,804 42,804 32,877 9,927
Building Refunds90,000 90,000 54,732 35,268
Total Expenditures4,960,019 5,364,519 4,848,603 515,916
Excess/Deficiency of Revenues
Over (Under) Expenditures812,981 408,481 1,201,684 793,203
Other Financing Sources (Uses):
Reserve for Contingencies(50,000) - - -
Reserve for Cash Balance(981,067) (981,067) - 981,067
Transfer From Other Funds- - 138,233 138,233
Transfer to Other Funds(538,659) (184,159) (184,159) -
Total Other Financing Sources (Uses)(1,569,726) (1,165,226) (45,926) 1,119,300
Net Change in Fund Balances (756,745)(756,745) 1,155,758 1,912,503
Fund Balances - October 1 756,745756,745 2,307,335 1,550,590
Fund Balances - September 30 $ --$ 3,463,093$ 3,463,093$
H-62
MONROE COUNTY, FLORID
A
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income-$ -$ 159$ 159$
Total Revenues- - 159 159
EXPENDITURES:
Capital Projects100,000 100,000 - 100,000
Total Expenditures100,000 100,000 - 100,000
Excess/Deficiency of Revenues
Over (Under) Expenditures(100,000) (100,000) 159 100,159
Other Financing Sources (Uses):
Issuance of Debt2,500,000 2,500,000 - (2,500,000)
Transfers to Other Funds(2,500,000) (2,500,000) (2,500,000) -
Total Other Financing Sources (Uses)- - (2,500,000) (2,500,000)
Net Change in Fund Balances (100,000)(100,000) (2,499,841) (2,399,841)
Fund Balances - October 1 100,000100,000 2,612,285 2,512,285
Fund Balances - September 30 $ --$ 112,444$ 112,444$
H-63
MONROE COUNTY, FLORID
A
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
INFRASTRUCTURE REVENUE BONDS SERIES 2007 CAPITAL PROJECTS FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income-$ -$ 528$ 528$
Total Revenues- - 528 528
EXPENDITURES:
Capital Projects- - - -
Total Expenditures- - - -
Excess/Deficiency of Revenues
Over (Under) Expenditures- - 528 528
Other Financing Sources (Uses):
Transfer to Other Funds(200,000) (200,000) - 200,000
Total Other Financing Sources (Uses)(200,000) (200,000) - 200,000
Net Change in Fund Balances (200,000)(200,000) 528 200,528
Fund Balances - October 1 200,000200,000 185,558 (14,442)
Fund Balances - September 30 $ --$ 186,086$ 186,086$
H-64
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BIG COPPITT WASTEWATER CAPITAL PROJECT FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Licenses and Permits$ 330,000$ 330,000$ 358,021$ 28,021
Investment Income 5,000 5,000 45,775 40,775
Miscellaneous Income - 31,006- 31,006
Total Revenues 335,000 335,000 434,802 99,802
EXPENDITURES:
Current:
Capital Outlay:
Physical Environment:
Big Coppitt Refunds 5,000 5,000 5,000-
Big Coppitt Special Assessment 25,000 25,000 15,451 9,549
Total Physical Environment 30,000 30,000 15,451 14,549
Total Capital Outlay Expenditures 30,000 30,000 15,451 14,549
Excess/Deficiency of Revenues
Over (Under) Expenditures 305,000 305,000 419,351 114,351
Other Financing Sources (Uses):
Transfers from Other Funds - - 867 867
Transfers to Other Funds (682,000) (682,000) (681,999) 1
Total Other Financing Sources (Uses) (682,000)(682,000) (681,132) 868
Net Change in Fund Balances (377,000) (377,000) (261,781) 115,219
Fund Balances - October 1 377,000 377,000 598,824 221,824
Fund Balances - September 30$ -$ 337,043-$ $ 337,043
H-65
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
DUCK KEY WASTEWATER PROJECT CAPITAL PROJECTS FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Licenses and Permits80,000$ 80,000$ 86,771$ 6,771$
Investment Income3,500 3,500 12,029 8,529
Miscellaneous- - 6,573 6,573
Total Revenues83,500 83,500 105,373 21,873
EXPENDITURES:
Capital Projects35,000 35,000 350 34,650
Total Expenditures35,000 35,000 350 34,650
Excess/Deficiency of Revenues
Over (Under) Expenditures48,500 48,500 105,023 56,523
Other Financing Sources (Uses):
Reserve for Contingencies(82,100) (82,100) - 82,100
Reserve for Cash Balance(45,225) (45,225) - 45,225
Transfer From Other Funds- - 184 184
Total Other Financing Sources (Uses)(127,325) (127,325) 184 127,509
Net Change in Fund Balances (78,825)(78,825) 105,207 184,032
Fund Balances - October 1 78,82578,825 517,303 438,478
Fund Balances - September 30 $ --$ 622,510$ 622,510$
H-66
MONROE COUNTY, FLORID
A
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
LONG KEY WASTEWATER PROJECT CAPITAL PROJECTS FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income-$ -$ 2,116$ 2,116$
Total Revenues- - 2,116 2,116
EXPENDITURES:
Capital Projects- - - -
Total Expenditures- - - -
Excess/Deficiency of Revenues
Over (Under) Expenditures- - 2,116 2,116
Other Financing Sources (Uses):
Transfer To Other Funds(305,836) (305,836) (305,836) -
Total Other Financing Sources (Uses)(305,836) (305,836) (305,836) -
Net Change in Fund Balances (305,836)(305,836) (303,720) 2,116
Fund Balances - October 1 305,836305,836 702,602 396,766
Fund Balances - September 30 $ --$ 398,882$ 398,882$
H-67
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
LAND ACQUISITION FUND CAPITAL PROJECTS FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Intergovernmental Revenue-$ -$ 6,210$ 6,210$
Investment Income20,000 20,000 1,651 (18,349)
Miscellaneous Income- - 256,309 256,309
Total Revenues20,000 20,000 264,170 244,170
EXPENDITURES:
Capital Projects711,548 711,548 102,808 608,740
Total Expenditures711,548 711,548 102,808 608,740
Excess/Deficiency of Revenues
Over (Under) Expenditures(691,548) (691,548) 161,362 852,910
Net Change in Fund Balances (691,548)(691,548) 161,362 852,910
Fund Balances - October 1 691,548691,548 800,261 108,713
Fund Balances - September 30 $ --$ 961,623$ 961,623$
H-68
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Charges for Services50,000$ 66,000$ 60,195$ (5,805)$
Total Revenues50,000 66,000 60,195 (5,805)
EXPENDITURES:
Current:
Public Safety70,500 67,500 63,665 3,835
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures(20,500) (1,500) (3,470) (1,970)
Other Financing Sources/(Uses):
Transfers from Other Funds-- 3,470 3,470
Total Other Financing Sources/Uses- - 3,470 3,470
Net Change in Fund Balances (1,500)(20,500) - 1,500
Fund Balances - October 1 -- - -
Fund Balances - September 30 $ (1,500)(20,500)$ -$ 1,500$
H-69
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Intergovernmental-$ -$ 557,941$ 557,941$
Investment Income- - 17,035 17,035
Miscellaneous Income- - 254,055 254,055
Total Revenues- - 829,031 829,031
EXPENDITURES:
Current:
Public Safety:
Law Enforcement442,000 321,255 1,107,769 (786,514)
Total Expenditures442,000 321,255 1,107,769 (786,514)
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures(442,000) (321,255) (278,738) 42,517
Other Financing Sources/(Uses):
Transfers from Other Funds- 6,245 - (6,245)
Transfers to Other Funds- - - -
Total Other Financing Resources- 6,245 - (6,245)
Net Change in Fund Balances (315,010)(442,000) (278,738) 36,272
Fund Balances - October 1 -- 3,749,841 -
Fund Balances - September 30 $ (315,010)(442,000)$ 3,471,103$ 36,272$
H-70
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S STATE FORFEITURE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Fines and Forfeitures16,500$ 45,500$ 44,881$ (619)$
Investment Income500 500 94 (406)
Total Revenues17,000 46,000 44,975 (1,025)
EXPENDITURES:
Current:
Public Safety:
Law Enforcement2,000 - 10,646 (10,646)
Total Expenditures2,000 - 10,646 (10,646)
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures15,000 46,000 34,329 (11,671)
Other Financing Sources/(Uses):
Transfers to Other Funds(15,000) (46,000) - 46,000
Net Change in Fund Balances -- 34,329 34,329
Fund Balances - October 1 -- 617,324 617,324
Fund Balances - September 30 $ --$ 651,653$ 651,653$
H-71
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S CONTRACT ADMINISTRATIVE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Intergovernmental890,000$ 890,000$ 1,147,802$ 257,802$
Charges for Services3,780,000 3,780,000 3,498,492 (281,508)
Investment Income10,000 10,000 5,060 (4,940)
Total Revenues4,680,000 4,680,000 4,651,354 (28,646)
EXPENDITURES:
Current:
Public Safety4,547,000 4,640,000 4,619,859 20,141
Total Expenditures4,547,000 4,640,000 4,619,859 20,141
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures133,000 40,000 31,495 (8,505)
Other Financing Sources/(Uses):
Transfers from Other Funds- - 14,550 14,550
Total other financing sources (uses)- - 14,550 14,550
Net Change in Fund Balances 40,000133,000 46,045 6,045
Fund Balances - October 1 1,291,3591,291,359 1,291,359 -
Fund Balances - September 30 $ 1,331,3591,424,359$ 1,337,404$ 6,045$
H-72
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S COMMISSARY SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Charges for Services450,000$ 520,000$ 520,821$ 821$
Investment Income6,000 6,000 5,528 (472)
Miscellaneous19,000 24,000 18,832 (5,168)
Total Revenues475,000 550,000 545,181 (4,819)
EXPENDITURES:
Current:
Public Safety438,500 500,000 487,662 12,338
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures36,500 50,000 57,519 7,519
Net Change in Fund Balances 50,00036,500 57,519 7,519
Fund Balances - October 1 1,057,1691,057,169 1,057,169 -
Fund Balances - September 30 $ 1,107,1691,093,669$ 1,114,688$ 7,519$
H-73
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S INTERAGENCY COMMUNICATIONS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Charges for Services35,000$ 40,000$ 31,042$ (8,958)$
Investment Income5,000 7,000 786 (6,214)
Total Revenues40,000 47,000 31,828 (15,172)
EXPENDITURES:
Current:
Public Safety440,000 205,000 195,802 9,198
Total Expenditures440,000 205,000 195,802 9,198
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures(400,000) (158,000) (163,974) (5,974)
Other Financing Sources/(Uses):
Transfers from Other Funds145,000 200,000 205,238 5,238
Net Change in Fund Balances 42,000(255,000) 41,264 (736)
Fund Balances - October 1 159,470159,470 159,470 -
.
Fund Balances - September 30 $ 201,470(95,530)$ 200,734$ (736)$
H-74
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S TRAUMA STAR SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
EXPENDITURES:
Current:
Public Safety5,081,032$ 5,081,032$ 5,069,605$ 11,427$
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures(5,081,032) (5,081,032) (5,069,605) 11,427
Other Financing Sources/(Uses):
Transfers from Other Funds5,081,032 5,081,032 5,081,032 -
Transfers to Other Funds- - (11,427) (11,427)
Total Other Financing Sources/Uses5,081,032 5,081,032 5,069,605 (11,427)
Net Change in Fund Balances -- - -
Fund Balances - October 1 -- - -
Fund Balances - September 30 $ --$ -$ -$
H-75
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S RADIO COMMUNICATIONS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Charges for Services-$ -$ 69,092$ 69,092$
EXPENDITURES:
Current:
Public Safety704,477 764,477 743,462 21,015
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures(704,477) (764,477) (674,370) 90,107
Other Financing Sources/(Uses):
Transfers from Other Funds704,477 765,477 696,385 (69,092)
Transfers to Other Funds- (1,000) (22,015) (21,015)
Total Other Financing Sources/Uses704,477 764,477 674,370 (90,107)
Net Change in Fund Balances -- - -
Fund Balances - October 1 -- - -
Fund Balances - September 30 $ --$ -$ -$
H-76
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, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Intergovernmental615,000$ 820,000$ 439,827$ (380,173)$
Total Revenues615,000 820,000 439,827 (380,173)
EXPENDITURES:
Current:
Public Safety672,000 1,075,000 1,066,168 8,832
Total Expenditures672,000 1,075,000 1,066,168 8,832
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures(57,000) (255,000) (626,341) (371,341)
Other Financing Sources/(Uses):
Transfers from Other Funds- - 344,810 344,810
Total Other Financing Sources/Uses- - 344,810 344,810
Net Change in Fund Balances (255,000)(57,000) (281,531) (26,531)
Fund Balances - October 1 255,155255,155 255,155 -
Fund Balances - September 30 $ 155198,155$ (26,376)$ (26,531)$
The notes to the financial statements are an integral part of these statements.
H-77
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S SHARED ASSET FORFEITURE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
.
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income340,000$ 15,000$ 12,022$ (2,978)$
Total Revenues340,000 15,000 12,022 (2,978)
EXPENDITURES:
Current:
Public Safety:
Law Enforcement100 50 - 50
Grants and Aid135,000 135,000 123,206 11,794
Total Expenditures135,100 135,050 123,206 11,844
Excess/Deficiency of Revenues
Over (Under) Expenditures204,900 (120,050) (111,184) (14,822)
Net Change in Fund Balances (120,050)204,900 (111,184) (8,866)
Fund Balances - October 1 5,159,2905,159,290 5,159,290 -
Fund Balances - September 30 $ 5,039,2405,364,190$ 5,048,106$ (8,866)$
H-78
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
SHERIFF'S E911 SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Charges for Services575,000$ 463,000$ 457,993$ (5,007)$
Investment Income20,000 20,000 7,979 (12,021)
Total Revenues595,000 483,000 465,972 (17,028)
EXPENDITURES:
Current:
Public Safety695,000 561,000 556,479 4,521
Total Expenditures695,000 561,000 556,479 4,521
Excess/Deficiency of Revenues
Over (Under) Expenditures(100,000) (78,000) (90,507) (21,549)
Net Change in Fund Balances (78,000)(100,000) (90,507) (21,549)
Fund Balances - October 1 1,290,6801,290,680 1,392,253 101,573
Fund Balances - September 30 $ 1,212,6801,190,680$ 1,301,746$ 89,066$
H-79
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
CLERK'S RECORDS MODERNIZATION SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Charges for Services285,000$ 285,000$ 449,819$ 164,819$
Investment Income35,000 35,000 8,207 (26,793)
Total Revenues320,000 320,000 458,026 138,026
EXPENDITURES:
Current:
Court Related:
Modernization Trust- - - -
Excess/Deficiency of Revenues
Over (Under) Expenditures320,000 320,000 458,026 138,026
Net Change in Fund Balances 320,000320,000 458,026 138,026
Fund Balances - October 1 (320,000)(320,000) 2,814,152 3,134,152
Fund Balances - September 30 $ --$ 3,272,178$ 3,272,178$
H-80
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
CLERK'S COURT RELATED SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Intergovernmental1,218,980$ 1,218,980$ 1,265,769$ 46,789$
Charges for Services673,248 673,248 908,686 235,438
Fines and Forfeitures1,462,470 1,462,470 2,202,307 739,837
Investment Income13,550 13,550 7,965 (5,585)
Miscellaneous47,973 47,973 959 (47,014)
Total Revenues3,416,221 3,416,221 4,385,686 969,465
EXPENDITURES:
Current:
Court Related:
Clerk Administration1,264,896 1,169,896 1,386,386 (216,490)
Clerk Records Management35,650 65,650 63,669 1,981
Clerk Jury Management120,000 120,000 94,022 25,978
Clerk Circuit Court Criminal554,950 594,950 591,156 3,794
Clerk Circuit Court Civil486,350 486,350 406,006 80,344
Clerk Court Information Systems495,300 520,300 512,873 7,427
Clerk Circuit Court Family220,805 220,805 101,585 119,220
Clerk Circuit Court Juvenile141,850 141,850 141,594 256
Clerk Circuit Court Probate159,000 159,000 93,460 65,540
Clerk County Court Criminal472,720 477,720 474,711 3,009
Clerk County Court Civil297,000 297,000 206,098 90,902
Clerk County Court Traffic619,800 614,800 416,385 198,415
Total Expenditures4,868,321 4,868,321 4,487,945 380,376
Excess/(Deficiency) of Revenues
Over/(Under) Expenditures (1,452,100) (1,452,100) (102,259) 1,349,841
OTHER FINANCING SOURCES/(USES):
Transfer from Other Funds 1,452,100 1,452,100 1,452,100 -
Transfer to Other funds- - (1,349,841) (1,349,841)
Total Other Financing Sources/(Uses)1,452,100 1,452,100 102,259 (1,349,841)
Net Change in Fund Balances -- - -
Fund Balances - October 1 -- - -
Fund Balances - September 30 $ --$ -$ -$
H-81
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES - BUDGET AND ACTUAL
ONE CENT INFRASTRUCTURE SURTAX CAPITAL PROJECT FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Taxes$ 19,381,987$ 19,381,987$ 28,613,898$ 9,231,911
Intergovernmental 1,034- (1,034)-
Investment Income 50,000 50,000 44,830 (5,170)
Miscellaneous - 25,059- 25,059
Total Revenues 19,431,987 19,433,021 28,683,787 9,250,766
EXPENDITURES:
Current:
Capital Outlay:
General Government 3,500,083 5,347,908 4,268,261 1,079,647
Public Safety 915,000 1,542,773 1,338,094 204,679
Physical Environment 136,622 262,997 161,730 101,267
Transportation: Const. Mgmt. 3,587,870 3,739,168 1,098,099 2,641,069
Culture and Recreation 3,236,378 2,081,147 142,766 1,938,381
Total Capital Outlay Expenditures11,375,953 12,973,993 7,008,950 5,965,043
Excess/Deficiency of Revenues
Over (Under) Expenditures 8,056,034 6,459,028 21,674,837 15,215,809
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies (2,049,895) (1,213,557) 1,213,557-
Reserve for Cash Balance (2,064,920) (2,064,920) 2,064,920-
Transfers from Other Funds - 333,664- 333,664
Transfers to Other Funds (20,115,889) (21,304,327) (20,801,066) 503,261
Total Other Financing Sources (Uses)(24,230,704) (24,582,804) (20,467,402) 4,115,402
Net Change in Fund Balances (16,174,670) (18,123,776) 1,207,435 19,331,211
18,123,776 26,102,553 7,978,777
Fund Balances - October 1 16,174,670
Fund Balances - September 30$ -$ 27,309,988-$ $ 27,309,988
H-82
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
INFRASTRUCTURE REVENUE BONDS SERIES 2014 CAPITAL PROJECTS FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income-$ -$ 21,330$ 21,330$
Total Revenues- - 21,330 21,330
EXPENDITURES:
Capital Projects - Culture and Recreation1,674,396 2,694,327 2,664,131 30,196
Capital Projects - Buildings22,086,228 23,093,349 18,273,321 4,820,028
Total Expenditures23,760,624 25,787,676 20,937,452 4,850,224
Excess/Deficiency of Revenues
Over (Under) Expenditures(23,760,624) (25,787,676) (20,916,122) 4,871,554
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies(1,000,000) (30,000) - 30,000
Transfers from Other Funds8,910,000 9,895,000 9,895,000 -
Total Other Financing Sources (Uses)7,910,000 9,865,000 9,895,000 30,000
Net Change in Fund Balances (15,922,676)(15,850,624) (11,021,122) 4,901,554
Fund Balances - October 1 15,922,67615,850,624 15,826,008 (96,668)
Fund Balances - September 30 $ --$ 4,804,886$ 4,804,886$
H-83
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
CUDJOE REGIONAL WASTEWATER CAPITAL PROJECT FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Licenses and Permits$ 2,343,905$ 2,343,905$ 2,379,005$ 35,100
Investment Income - 525,228- 525,228
Miscellaneous - 127,860- 127,860
Total Revenues 2,343,905 2,343,905 3,032,093 688,188
EXPENDITURES:
Current:
Capital Outlay:
Cudjoe Regional Wastewater Project
Special Assessment Refunds 25,000 25,000 25,000-
Special Assessments 202,022 3,063,631 1,175,992 1,887,639
Total Physical Environment 227,022 3,088,631 1,175,992 1,912,639
Total Capital Outlay Expenditures 227,022 3,088,631 1,175,992 1,912,639
Excess/Deficiency of Revenues
Over (Under) Expenditures 2,116,883 (744,726) 1,856,101 2,600,827
OTHER FINANCING SOURCES (USES):
Transfers from Other Funds - - 3,154 3,154
Transfers to Other Funds (2,125,740) (2,125,740) (2,125,740) -
Total Other Financing Sources (Uses)(2,299,687) (2,299,687) (2,122,586) 177,101
Net Change in Fund Balances (182,804) (3,044,413) (266,485) 2,777,928
Fund Balances - October 1 182,804 3,044,413 4,969,890 1,925,477
Fund Balances - September 30$ -$ 4,703,405-$ $ 4,703,405
H-84
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
ALL DEBT SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
REVENUES:
Investment Income$ 15,000$ 15,000$ 25,817$ 10,817
Total Revenues 15,000 15,000 25,817 10,817
EXPENDITURES:
Current:
Debt Service:
Clean Water SRF Loan
Principal 3,461,377 3,461,377 3,461,316 61
Interest 1,910,364 1,910,364 1,910,364 -
Total Clean Water SRF Loan 5,371,741 5,371,741 5,371,680 61
2014 Revenue Bonds
Principal 3,900,000 3,900,000 3,900,000 -
Interest 381,376 381,376 381,376 -
Total 2014 Revenue Bonds 4,281,376 4,281,376 4,281,376 -
Mayfield Loan
Principal 2,125,000 2,125,000 2,125,000 -
Total Mayfield Loan 2,125,000 2,125,000 2,125,000 -
2016 Revenue Bonds
Principal 880,000 880,000 879,999 1
Interest 239,135 239,135 238,892 243
Total 2016 Revenue Bonds 1,119,135 1,119,135 1,118,891 244
(Continued)
H-85
MONROE COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
ALL DEBT SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
2018 PNC Line of Credit
Principal 5,012,256- 8,400,804 (3,388,548)
Interest 600,000 618,908 82,068 536,840
Total 2018 PNC Line of Credit 600,000 5,631,164 8,482,872 (2,851,708)
2020 Revenue Note
Principal 750,000 750,000 440,000 310,000
Interest 50,000 50,000 22,570 27,430
Total 2018 PNC Line of Credit 800,000 800,000 462,570 337,430
Key West Airport Line of Credit
Interest 830,000- 830,000-
Other Debt Service Costs 10,000- 10,000-
Total 2018 PNC Line of Credit 840,000- 840,000-
Total Expenditures 14,297,252 20,168,416 21,842,389 (1,673,973)
Excess/Deficiency of Revenues
Over (Under) Expenditures (14,282,252) (20,153,416) (21,816,572) (1,663,156)
OTHER FINANCING SOURCES (USES):
Reserve for Contingencies (500,000) (500,000) 500,000-
Reserve for Cash Balance (500,000) (500,000) 500,000-
Transfers from Other Funds 14,297,252 20,168,416 22,164,560 1,996,144
Total Other Financing Sources (Uses)13,297,252 19,168,416 22,164,560 2,996,144
Net Change in Fund Balances (985,000) (985,000) 347,988 1,332,988
Fund Balances - October 1 985,000 985,000 2,834,407 1,849,407
Fund Balances - September 30$ -$ 3,182,395-$ $ 3,182,395
H-86
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF NET POSITION
INTERNAL SERVICE FUNDS
SEPTEMBER 30, 2021
Worker'sGroupRisk
CompensationInsuranceManagement
FundFundFund
ASSETS
Current Assets:
Cash and Cash Equivalents495,988$ 1,830,735$ 562,008$
Investments3,768,191 12,935,533 4,749,061
Accounts Receivable, Net - 56,785 2,049
Due from Other Funds 15,771 230,833 17,280
Due from Other Governmental Units 5,651 101,214 10
Interest Receivable 6,498 22,610 8,132
Total Current Assets 4,292,099 15,177,710 5,338,540
Noncurrent Assets:
Land and Other Nondepreciable Assets - - -
Capital Assets, Net of Accum. Depreciation 845 20,245 26,727
Total Noncurrent Assets 845 20,245 26,727
Total Assets 4,292,944 15,197,955 5,365,267
DEFERRED OUTFLOWS OF RESOURCES
Related to Pensions 53,467 77,258 90,218
Related to OPEB 800 12,700 10,600
Total Deferred Outflows of Resources 54,267 89,958 100,818
LIABILITIES
Accounts Payable 11,467 856,834 72,745
Accrued Wages and Benefits Payable 13,166 19,812 14,857
Claims and Judgments Payable 1,051,3471,543,302 853,210
Due to Other Funds- 1,614 -
Unearned Revenues- 3,723 -
Accrued Comp. Absences Payable 2,890 6,305 4,811
Total Current Liabilities 1,570,825 1,939,635 945,623
Noncurrent Liabilities:
Accrued Comp. Absences Payable11,55925,21919,245
OPEB Liabilit
y 32,0005,000 66,000
Net Pension Liability 108,29286,363 52,197
Total Noncurrent Liabilities102,922 165,511 137,442
Total Liabilities1,673,747 2,105,146 1,083,065
DEFERRED INFLOWS OF RESOURCES
Related to Pensions 114,266 165,547 210,470
Related to OPEB 200 2,600 2,200
Total Deferred Inflows of Resources 114,466 168,147 212,670
NET POSITION
Investment in Capital Assets 845 20,245 26,727
Unrestricted 2,558,153 12,994,375 4,143,623
Total Net Position
$ 2,558,998$ 13,014,620$ 4,170,350
H-87
Fleet
Management
FundTotal
$ 3,349,777461,046$
23,753,2872,300,502
58,834-
315,14151,257
113,0916,216
41,4724,232
27,631,6022,823,253
54,00054,000
648,092600,275
702,092654,275
28,333,6943,477,528
670,436449,493
125,100101,000
795,536550,493
965,37124,325
147,73699,901
3,447,859-
1,614-
3,723-
49,14235,136
4,615,445159,362
196,566140,543
382,000279,000
350,365103,513
928,931523,056
5,544,376682,418
1,488,595998,312
25,60020,600
1,514,1951,018,912
702,092654,275
21,368,5671,672,416
$ 22,070,6592,326,691$
H-88
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENSES, AND
CHANGES IN NET POSITION
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Worker'sGroupRisk
CompensationInsuranceManagement
FundFundFund
Operating Revenues:
Charges for Services$ 2,171,794$ 18,349,773$ 5,294,580
Miscellaneous 258,218 467,347 62,960
Total Operating Revenues 2,430,012 18,817,120 5,357,540
Operating Expenses:
Personnel Services 206,518 281,514 281,046
Operations 360,352 2,162,787 3,212,131
Depreciation and Amortization 260 5,391 3,623
Asserted and Paid Claims 1,678,055 17,436,370 1,065,642
Total Operating Expenses 2,245,185 19,886,062 4,562,442
Operating Income (Loss) 184,827 (1,068,942) 795,098
Non-Operating Revenues (Expenses):
Operating Grants - - -
Investment Income 9,676 38,102 12,261
Total Non-Operating Revenues (Expenses) 9,676 38,102 12,261
Income (Loss) Before Transfers 194,503 (1,030,840) 807,359
Transfers:
Transfers from Other Funds 2,818 4,016 -
Transfers to Other Funds (127,936)- (133,720)
Total Transfers 2,818 (123,920) (133,720)
Change in Net Position 197,321 (1,154,760) 673,639
Total Net Position - October 1 2,361,677 14,169,380 3,496,711
Total Net Position - September 30$ 2,558,998$ 13,014,620$ 4,170,350
H-89
Fleet
Management
FundTotal
$ 3,638,469$ 29,454,616
6,252 794,777
3,644,721 30,249,393
1,510,442 2,279,520
1,197,874 6,933,144
77,873 87,147
20,180,067-
2,786,189 29,479,878
858,532 769,515
4,370 4,370
8,868 68,907
13,238 73,277
871,770 842,792
45,531 52,365
(261,656)-
45,531 (209,291)
917,301 633,501
1,409,390 21,437,158
$ 2,326,691$ 22,070,659
H-90
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Worker'sGroupRisk
CompensationInsuranceManagement
FundFundFund
Operating Activities:
Cash Received for Services$ 2,171,794$ 18,360,879$ 5,292,780
Cash Payments to Suppliers for Goods and Services (351,679) (3,104,907) (3,217,153)
Cash Payments for Employee Services (244,639) (357,358) (338,979)
Cash Payments for Claims (1,775,141) (17,447,546) (892,442)
Cash Received from (Paid to) Other Sources (10,662) (166,948) 13,346
Other Operating Revenue 251,761 444,955 54,975
Net Cash Provided by (Used in)
Operating Activities 41,434 (2,270,925) 912,527
Noncapital Financing Activities:
Operating Grants Received - - -
Transfers from Other Funds 2,818 4,016 -
Transfers to Other Funds (127,936)- (133,720)
Net Cash Provided by (Used in) Noncapital
Financing Activities 2,818 (123,920) (133,720)
Capital and Related Financing Activities:
Acquisition of Capital Assets (1,105) (1,500) (4,227)
Net Cash Provided by (Used in) Capital and
Related Financing Activities (1,105) (1,500) (4,227)
Investing Activities:
Investment Income 9,676 38,102 12,261
Proceeds from Sales and Maturities of Investments 3,079,009 13,893,242 2,957,734
Purchase of Investment Securities (3,316,541) (12,423,466) (3,891,553)
Net Cash Provided by (Used in) Investing Activities (227,856) 1,507,878 (921,558)
Net Increase (Decrease) in Cash and
Cash Equivalents (184,709) (888,467) (146,978)
Cash and Cash Equivalents:
October 1 680,697 2,719,202 708,986
September 30$ 495,988$ 1,830,735$ 562,008
H-91
Fleet
Management
FundTotal
$ 3,638,469$ 29,463,922
(1,199,978) (7,873,717)
(1,942,839) (2,883,815)
(20,115,129)-
(663,586) (827,850)
2,054 753,745
(165,880) (1,482,844)
4,370 4,370
45,531 52,365
(261,656)-
49,901 (204,921)
(34,144) (40,976)
(34,144) (40,976)
8,868 68,907
2,375,113 22,305,098
(2,179,531) (21,811,091)
204,450 562,914
54,327 (1,165,827)
406,719 4,515,604
$ 461,046$ 3,349,777
(Continued)
H-92
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF CASH FLOWS (CONTINUED)
INTERNAL SERVICE FUND
S
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Worker'sGroupRisk
CompensationInsuranceManagement
FundFundFund
Reconciliation of Operating Income (Loss)
to Net Cash Provided by (Used in)
Operating Activities:
Operating Income (Loss)184,827$ (1,068,942)$ 795,098$
Adjustments to Reconcile Operating Income (Loss)
to Net Cash Provided by (Used in) Operating
Activities:
Depreciation and Amortization260 5,391 3,623
Change in Assets, Liabilities, and Deferrals:
(Increase) Decrease in Accounts Receivable- 11,106 (1,800)
(Increase) Decrease in Due from Other Gov't Units(5,503) 1,429 30,626
(Increase) Decrease in Due from Other Funds1,808 (169,982) (17,280)
Increase (Decrease) in Accounts Payable8,673 (945,843) (5,022)
Increase (Decrease) in Accrued Wages/Benefits 10,868 16,255 10,762
Increase (Decrease) in Claims/Judgments Payable(97,086) (11,176) 173,200
Increase (Decrease) in Due to Other Funds- 1,614 -
Increase (Decrease) in Due to Other Gov't Units(6,967) (9) -
Increase (Decrease) in Comp. Absences Payable(22,587) (22,843) (56,904)
Increase (Decrease) in Unearned Revenue- 3,723 -
Increase (Decrease) in OPEB Liability1,000 5,000 (2,000)
Increase (Decrease) in Pension Liability(145,923) (211,496) (272,282)
Increase (Decrease) in Deferred Outflows11,877 26,328 66,589
Increase (Decrease) in Deferred Inflows106,644 110,912 195,902
Total Adjustments(143,393) (1,201,983) 117,429
Net Cash Provided by (Used in)
Operating Activities$ (2,270,925)41,434$ 912,527$
Cash Reconciliation:
Unrestricted495,988$ 1,830,735$ 562,008$
H-93
Fleet
Management
FundTotal
$ 858,532$ 769,515
87,14777,873
- 9,306
4,615 31,167
(51,257) (236,711)
(2,104) (944,296)
80,573 118,458
- 64,938
(616,939) (615,325)
(5) (6,981)
(3,625) (105,959)
- 3,723
28,000 32,000
(1,282,355) (1,912,056)
81,330 186,124
663,680 1,077,138
(1,024,412) (2,252,359)
$ (165,880)$ (1,482,844)
$ 461,046$ 3,349,777
H-94
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF FIDUCIARY NET POSITION
ALL CUSTODIAL FUNDS
SEPTEMBER 30, 2021
Clerk'sSheriff'sTag
GeneralGeneraland
CustodialCustodialLicense
ASSETS
Cash and Cash Equivalents$ 7,112,664$ 1,733,918$ 240,175
Accounts Receivable 36,512 5,531 2,145
Total Assets
$ 7,149,176$ 1,739,449$ 242,320
LIABILITIES
Accounts Payable$ 37,906$ 21,589$ 2,114
Undistributed Collections - 240,206-
Due to Other Governmental Units 2,922,587 - -
Total Liabilities$ 2,960,493$ 21,589$ 242,320
NET POSITION
Restricted for Individuals,
Organizations, and Other Governments
$ 1,717,8604,188,683$ -$
H-95
Property
TaxTotals
$ 9,471,194384,437$
1,551 45,739
$ 385,988$ 9,516,933
$ 102,568$ 164,177
283,420 523,626
2,922,587-
$ 385,988$ 3,610,390
$ 5,906,543-$
H-96
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF FIDUCIARY NET POSITION
ALL CUSTODIAL FUNDS
SEPTEMBER 30, 2021
Clerk'sSheriff'sTag
GeneralGeneraland
CustodialCustodialLicense
ADDITIONS
Payments made by litigants$ 71,699,145$ -$ -
Payments made to bond accounts 714,271- -
Payments made to inmate accounts 1,213,614- -
Property taxes and fees collected - - -
Licenses and tag fees collected - 38,023,887-
Charges for services 1,468,291 - -
Fines and forfeitures 89,568 - -
Other collections - - -
Total Additions
$ 73,257,004$ 1,927,885$ 38,023,887
DEDUCTIONS
Payments to litigants$ 72,501,360$ -$ -
Payments to depositors 572,441- -
Payments of inmate services 911,162- -
Payments of inmate release funds 274,687- -
Property taxes and fees paid - - -
Licenses and tag fees paid - 38,020,717-
Payment of court fines, fees, and forfeitures 1,011,205 - -
Other collections - - 3,170
Total Deductions$ 73,512,565$ 1,758,290$ 38,023,887
(decrease) in fiduciary net position (255,561) 169,595 -
Net increase
ginning of year, as previously stated - - -
Net position, be
Restatement - change in accounting principle 4,444,244 1,548,265 -
ginning of year restated 4,444,244 1,548,265 -
Net position, be
r
Net position, end of yea
1,717,8604,188,683 -
H-97
Property
TaxTotals
$ 71,699,145-$
714,271-
1,213,614-
768,738,260768,738,260
38,023,887-
1,468,291-
89,568-
1,5511,551
$ 881,948,587768,739,811$
$ 72,501,360-$
572,441-
911,162-
274,687-
768,739,811768,739,811
38,020,717-
1,011,205-
3,170-
$ 882,034,553768,739,811$
(85,966)-
--
5,992,509-
5,992,509-
5,906,543-
H-98
STATISTICAL SECTION
(Unaudited)
report presents detailed information as a context for understanding what the information
in the financial statements, note disclosures, and required supplementary information
statements because they usually cover more than one fiscal year and may present non-
accounting data. These schedules are designed to give the reader insights into the
financial position of Monroe County not readily apparent from the financial statements.
CONTENTS
Financial Trends
These schedules contain trend information to help the reader understand how the
Revenue Capacity
most significant local revenue source, the property tax.
Debt Capacity
These schedules present information to help the reader assess the affordability of the
additional debt in the future.
Demographic and Economic Information
These schedules offer demographic and economic indicators to help the reader
place.
Operating Information
These schedules contain service and infrastructure data to help the reader
services the government provides and the activities it performs.
Sources: Unless otherwise noted, the information in these schedules is derived from the
annual comprehensive financial report for the relevant year.
I-1
)
2021
30,192,37418,960,068
(11,232,306
231,594,176662,244,732169,708,886576,249,296236,744,254831,953,618
$
$
)
5
2020
18,738,982
(99,670,088)
215,045,527
496,570,819149,384,09525,177,573220,447,429645,954,914
(118,409,070
$
$ 441,882,862 134,366,434 5,150,078
)
2019
14,386,250
(87,617,986)
242,976,406509,214,933132,778,187478,112,841251,498,265641,993,120
(102,004,236
$
$ 399,934,362 125,243,211 5,401,902
))
2018
(75,261,059(81,798,709)
223,726,802467,491,713110,222,416428,707,352
230,805,486577,714,129
$
$ 368,242,763 109,870,078 8,521,859
)
5
2017
(71,941,549
(56,713,528)
218,356,360479,938,01113,186,881422,441,979227,396,445593,124,896
$
$ 319,025,970 109,681,382 7,078,684 (6,537,650
)
Fiscal Year
2016
(50,029,144(32,972,722)
212,145,042108,228,918401,870,793
480,563,401219,894,248588,792,319
a
$
$ 333,523,204 88,918,775 9,040,085 15,228,021
)
55
2015
(34,345,949
(16,176,880)
165,286,629429,827,212110,314,16384,047,27172,270,982540,141,377
$
$ 318,447,503 83,423,290 7,749,206 17,056,422
5
Last Ten Fiscal Years
Monroe County, Florid
Net Position by Component
(accrual basis of accounting)
2014
31,027,325
51,934,724
128,646,709108,922,797392,212,829
134,844,829578,992,382
$
$ 298,886,532
85,160,743 6,984,353 18,169,069
5
2013
43,602,257
63,655,076
108,642,737354,525,407
128,633,076546,813,559
$ 310,395,551 470,069,58
81,817,278 6,198,120 20,907,399 $
55
2012
56,444,01079,206,10972,895,529
268,481,196347,687,30141,720,865
$ 270,422,340 124,146,22 438,170,822 84,103,067 4,486,851 20,052,819 $
sss
Net Investment in Capital AssetRestricted132,785,608UnrestrictedNet Investment in Capital AssetRestricted8,935,257Unrestricted16,451,519Net Investment in Capital AssetRestrictedUnrestricted
Total Governmental Activities Net Position457,710,814Primary Government:
Governmental Activities:Business-Type Activities:Total Business-Type Activities Net Position104,592,88Total Primary Government Net Position562,303,699
I-2
453,350
N/AN/AN/A
2021
54,232,19316,468,583
$
$
5
N/A
N/AN/A
1,109,241
2020
12,873,173
3,580,054 146,984,934 20,236,811 1,665,301 38,824,045$ 185,808,979
$ 16,601,238 13,389,100 1,231,070 34,853,094 10,165,464 4,771,308 8,161,413
968,264
N/AN/AN/A
2019
15,878,519
287,158,261 19,630,064 1,453,139 35,065,617$ 322,223,878
$ 46,598,839 146,767,99 11,429,330 8,389,528 39,803,950 12,030,396 7,212,319 11,315,558 3,610,346
801,434
N/AN/A
3,267,351
2018
10,466,369
$ 42,600,073 137,159,113 13,827,552 10,298,824 34,418,745 10,268,471 6,931,363 11,096,739 7,016,851
273,617,731 19,828,142 2,780,432 39,455,357$ 313,073,088
336,892
1,462,962
N/AN/A
2017
12,425,901
241,283,836 43,351,034 2,546,125 60,432,313$ 301,716,149
$ 33,047,216 123,536,270 13,857,103 6,328,758 36,762,716 8,128,718 5,770,585 9,575,187 4,277,283
Fiscal Year
873,420
N/A
N/A
2016 1,528,494
10,582,895
a
243,736,527 20,124,195 2,003,847 36,353,797$ 280,090,324
$ 37,502,040 125,871,354 5,142,872 8,551,788 36,494,174 10,391,189 6,024,215 9,633,236 4,125,659
N/AN/A
1,351,9189,390,022
2015 1,145,660
225,365,550 18,146,600 1,859,845 32,991,254$ 258,356,804
$ 35,557,069 107,153,098 11,598,822 7,693,769 35,425,413 9,247,469 5,471,494 9,858,508 3,359,908
Last Ten Fiscal Years
Monroe County, Florid
Changes in Net Position
(accrual basis of accounting)
N/AN/A
2014 1,078,8201,321,7809,315,084
$ 34,493,464 99,117,813 20,416,097 4,967,860 31,304,117 9,117,149 5,049,406 9,041,892 2,909,022 217,562,480
17,445,567 1,445,054 29,632,561$ 247,195,041
N/AN/AN/A
1,299,8278,551,579
2013
198,772,528 $ 228,473,092
$ 37,267,214 98,221,343 2,885,932 5,836,775 30,286,372 8,776,107 4,765,301 8,564,174 1,090,490 17,090,607
1,973,093 29,700,564
N/AN/A
N/A
2012 2,250,6941,919,6171,325,9229,183,8551,525,104
33,109,73594,622,17027,959,278
190,567,214218,526,492
$ 32,494,968 97,644,691 4,056,887 5,810,368 27,404,840 8,772,408 4,945,156 8,678,198 1,346,365 191,153,881 16,147,322
1,654,187 27,652,915$ 218,806,796
s
s
s
s
t
t
t
t
t
y
General GovernmenPublic SafetPhysical EnvironmenTransportation5,550,632Economic Environment29,394,468Human Services10,002,254Culture and Recreation5,009,394Court Related8,708,250Loss
on AbandonmenInterest on Long-Term DebLoss on Sale of LandSolid Waste15,924,397Toll BridgeKey West AirportMarathon AirporPFC Operations & Restriction
Expenses Governmental Activities:
Total Governmental Activities ExpenseBusiness-Type Activities:Total Business-Type Activities ExpenseTotal Primary Government Expense
I-3
2021
159,546,927
$ $
2020
146,888,956
$ 16,861,224 22,947,082 6,547,369 4,170 - 208,385 921,588 4,891,716 15,676,309
24,091,368 92,149,211 24,408,750 6,632,248 67,397,716$
21,658,991 2,110,105 11,290,898
1,296,724
2019
181,701,633
$ 17,569,020 21,556,806 114,924 - 273,741 815,623 4,815,378 17,912,440 93,723,049 7,737,514
14,473,750 53,165,907$
982,086 29,683,031
20,241,154 1,730,211 7,906,395 1,076,883
2018
139,938,647
$ 21,635,273 22,009,840 1,451,142 117,205 - 289,244 825,751 4,634,650 14,560,761
55,791,631 121,315,497 19,429,527 8,961,757 60,386,136$
20,308,625 1,599,076 9,092,112 995,039
8
r
2017
115,415,20
$ 17,185,955 19,562,405 1,607,558 226,678 - 357,361 843,448 4,337,159 14,899,740
22,912,402 81,932,706 6,338,177 22,457,943 58,005,941$
(8,980) 7,550,128
20,693,791 974,882
Fiscal Yea
968,966
1,148,2227,131,456
2016 18,269,048
142,077,182
76,153,697
16,969,758
17,243,156
$ 15,500,950 17,651,710 3,079,450 160,506 19,201 333,581 927,377 4,268,008 5,607,647 4,993,294
39,261,511$
1,012,930 8,137,144
18,054,144 1,456,352
8
1,071,150
2015
20,714,145 9,559,026 110,131,637
$ 14,981,927 16,036,534 229,598 24,245 265,740 192,799 4,379,726 2,902,539 1,525,314
31,945,545$
43,747,897
Last Ten Fiscal Years
Monroe County, Florida
(accrual basis of accounting)
4
Changes in Net Position - Continued
994,032
201
$ 12,618,594 13,192,489 32,045,494
58,366 327,134 175,866 4,771,093 16,271,947 81,157,649
1,488,769 207,897
18,295,821 6,690,157 885,399 5,996,892 1,362,200 34,301,619$ 115,459,26
961,458
2013
6,325,872
$ 15,516,640 13,096,102 24,484,744
94,236 431,788 212,996 1,061,006 22,553,751 78,200,371 17,978,598 6,874,905 829,353 2,545,532
1,089,450 30,311,870$ 108,512,241
294,635 454,473
12,688
862,661764,401262,241
928,993
2012
9,696,3344,029,5856,116,8833,393,187
14,575,15531,140,27029,372,41091,793,055
$ 9,900,022 13,570,962 7,557,781 1,676,794 26,680,241 70,369,779 17,877,147 816,578 3,485,298 2,343,704 31,810,057$
102,179,836
186,162 541,277 181,329 9,689,270
385,941
ss
ss
s
t
t
t
s
t
y
y
Public SafetPhysical EnvironmenEconomic EnvironmenHuman Services571,446Culture and Recreation56,652Court Related1,195,299Operating Grants and ContributionCapital Grants and ContributionSolid
Waste17,906,705Toll BridgeKey West AirportMarathon AirporOperating Grants and ContributionCapital Grants and Contribution
General GovernmenTransportation280,555
Charges for Services:Charges for services: Program Revenue
Program Revenues Total Governmental Activities Program Revenues62,420,645Business-Type Activities:Total Business-Type Activities Total Primar Government Program Revenue
Governmental Activities:
I-4
84,637
272,782
(867,537)
2021
(1,224,956)
28,573,67196,010,62327,706,134
(54,435,796)(25,862,125)
219,692,099165,723,913193,430,047
$
$ $ $ $ $
586,285183,376
3,961,794
2020
(2,264,043)(1,494,382)
18,100,29089,441,89516,605,908
(12,644,114)
179,296,716
(193,435,212)
(175,334,922)
$ 7,065,769 6,713,716 15,081,839 28,613,899 56,526,152 1,252,142 4,019,753 1,356,664 2,694,123
1,224,956
220,559,636
$ $ $ $ $
798,274409,028417,690
1,624,992
2019
20,930,77986,857,83941,723,22022,555,77164,278,991
195,650,446
(152,302,234)
(131,371,455)
4,011,963 5,801,456 10,098,395 19,863,169 32,095,701 1,010,381 3,469,952 5,264,098 7,470,045
$ 2,264,043 180,791,098
$ $ $ $ $
359,254240,318
(474,206)
2018
(2,426,372)
(1,073,778)(2,900,578)
81,472,46114,258,76011,358,182
173,135,684
(159,351,130)
(161,777,502)
$ 4,981,287 6,410,690 12,498,403 23,583,643 39,850,300 1,077,006 3,680,786 8,007,239 7,495,951 (417,690)
194,025,454
$ $
$ $ $
220,159120,248
(625,386)
2,907,7141,709,8422,050,2494,957,9634,332,577
2017
r
77,511,075
169,007,693
$
$
4,095,460 6,160,380 1,145,385 4,633,569 3,937,057 6,479,131
$ 11,043,667 20,805,323 32,763,679 173,609,890
1,073,778 $ $ $
Fiscal Yea
(18,484)
133,972
2016
(1,045,709)
(1,155,026)(1,039,538)(2,085,247)
75,463,96650,757,63448,672,387
a
164,952,009
$ (167,582,830)$ (164,675,116)
$ 4,564,973 6,501,374 11,438,274 21,510,929 36,519,780 1,097,971 3,634,152 2,651,474 3,237,284 (1,709,842)
$ $ $
166,957,444
133,956101,565
(796,538)(561,017)
2015
4,669,0584,108,041
75,322,772
26,006,69430,114,735
161,850,508
(136,404,831)(131,735,773)
$ (115,233,913)
$ (116,279,622)
4,579,158 6,180,346 1,131,692 3,381,168 2,280,811 3,276,417 1,155,026
$ $ $
$ 11,092,027 20,817,676 36,633,260 165,991,547
Last Ten Fiscal Years
Monroe County, Florid
(accrual basis of accounting)
65,63718,286
Changes in Net Position - Continued
611,306280,060
(415,169)(331,246)
2014
73,682,48932,224,92332,504,983
152,465,834
(120,572,157)
(119,960,851)
$ $
796,538
$ 4,297,140 5,711,689 10,736,520 20,161,451 34,480,163 1,081,021 2,938,180 2,103,571 4,782,480
162,411,525
$ $ $
7,970
90,463
(415,202)(316,769)
4,157,1423,840,373
2013
72,392,013
23,776,70827,617,081
144,244,041
(120,784,102)(116,626,960)
$
$
4,348,864 5,722,072 9,947,619 1,960,584 3,298,568 1,641,621 2,570,727 415,169
$ 18,653,970 30,555,397 152,797,080
$ $ $
11,988
(305,017)(138,494)
6,288,1128,755,791
1,413,1321,274,638
2012
74,644,75118,340,30019,614,938
146,348,375
(128,146,569)
$ $
415,202
$ 3,895,240 5,339,694 9,172,600 17,172,360 27,192,150 1,837,247 3,113,211 1,349,397 2,681,696
144,560,810
$ $ $
x
x
Tourist Impact Ta
Ad Valorem TaxesGas Tax5,632,6361/2 Cent Sales TaOne Cent Infrastructure Tax16,318,450Tourist Development Tax25,606,873Other Taxes1,866,485
Taxes:Investment Income154,535MiscellaneousTransfers
Net (Expense) Revenue Governmental Activities
Business-Type ActivitiesTotal Primary Government Net Expense(126,733,437)General Revenues and Other Changes in Net Position Governmental Activities: Other State Shared Revenue2,968,649
Investment Income1,253,656 Miscellaneous2,846,449 Transfers305,017Total Government Activities146,486,869Business-Type Activities:Total business-Type Activities Total Primary Government
Change in Net Position Governmental ActivitiesBusiness-Type ActivitiesTotal Primary Government
I-5
a
Monroe County, Florid
Governmental Activities Tax Revenues By Source
Last Ten Fiscal Years
(accrual basis of accounting)
Sales Taxes
Local Tourist
State TouristLocal
Development
FiscalPropertyImpactSales
Other Taxes
YearTaxTaxTaxTaxTotal
201274,644,751 6,288,112 30,706,877 25,606,873 1,866,485$ 139,113,098
201372,392,013 3,895,240 31,684,654 27,192,150 1,837,247 137,001,304
201473,682,489 4,348,864 34,323,661 30,555,397 1,960,584 144,870,995
201575,322,772 4,297,140 36,609,660 34,480,163 1,081,021 151,790,756
201675,463,966 4,579,158 38,090,049 36,633,260 1,131,692 155,898,125
201777,511,075 4,564,973 39,450,577 36,519,780 1,097,971 159,144,376
201881,472,461 4,095,460 38,009,370 32,763,679 1,145,385 157,486,355
201986,857,839 4,981,287 42,492,736 39,850,300 1,077,006 175,259,168
202089,441,895 4,011,963 35,763,020 32,095,701 1,010,381 162,322,960
202196,010,623 7,065,769 50,409,454 56,526,152 1,252,142 211,264,140
I-6
--
22,521
N/AN/AN/AN/AN/A
2021
6,627,1156,169,529
10,000,00010,058,02622,926,84443,007,391
185,660,925
$ $ $ $ $
---
44,694
N/AN/AN/AN/AN/A
2020
7,229,6386,388,9594,974,285
10,000,00018,514,10235,788,434
176,704,614
$ $ $ (4,649,995)$ 193,807,574$ 236,814,965
--
116,368
N/AN/AN/AN/AN/A
2019
9,722,7935,641,8534,746,840
10,000,00016,063,44835,902,609
194,029,791
$ $ $ $ 188,067,858$ 223,856,292
---
N/AN/AN/AN/AN/A
2018
1,212,9634,617,1784,325,401
10,000,00010,841,90712,248,36334,303,233
184,495,426
$ $ $ (5,796,007)$ 198,622,477$ 234,525,086
--
28,175
N/AN/AN/AN/AN/A
2017
5,111,5833,881,3705,021,010
14,226,38215,479,35734,845,497
174,219,867
$ $ $ $ 193,438,005$ 227,741,238
---
Fiscal Year
3,728
N/AN/AN/AN/AN/A
2016
3,382,2055,276,737
10,000,00012,779,39415,490,12338,273,245
177,362,347
$ $ $ (3,457,865)$ 179,664,382$ 214,509,879
-
--
3,870
N/AN/AN/AN/AN/A
2015
3,655,1716,282,834
10,000,00012,293,87513,706,44236,004,187
165,907,485
$ $ $ $ 186,021,289$ 224,294,534
Last Ten Fiscal Years
Monroe County, Florida
--
4,048
(modified accrual basis of accounting)
Fund Balances of Governmental Funds
116,890
N/AN/AN/AN/AN/A
2014
3,208,2666,152,655
13,438,60611,967,82135,527,365
129,848,990
$ $ $ $ 175,845,490$ 211,849,677
---
5,450
102,461
N/AN/AN/AN/AN/A
2013
2,845,7635,592,775
14,044,78821,494,62735,647,326
130,474,266
$ 10,000,000 $ $ $ 139,209,911$ 174,737,276
-
3,830
95,485
N/AN/AN/AN/A
2012
9,151,5792,752,586
14,038,18123,300,79237,438,28811,745,017
141,986,915165,636,097203,074,385
$ - $ $ $ 138,912,804$ 174,560,130
Fund
Service
ssigned
A
ReservedUnreservedNonspendableRestrictedCommittedAssignedUnassignedReserved N/AUnreserved, Report In:Special Revenue FundsDebt Capital Project FundsNonspendableRestrictedCommittedUnassigned
General Fund:Total General FundAll Other Government Funds:Total All Other Governmental FundsTotal Governmental Fund Balances
I-7
-
2021
9,164,6075,976,6981,356,6842,556,6115,557,5469,401,5782,635,270
11,196,14137,162,09911,656,88010,313,12729,241,00319,207,11911,461,426
71,676,71731,432,43539,758,349
192,246,012314,409,764126,819,226302,948,338
$
$
-
2020
6,671,3515,924,5209,542,1565,484,236
7,758,9284,591,0605,777,0116,991,000
75,734,15427,611,29737,775,86111,409,27639,673,31411,549,75029,850,66012,966,162
(17,213,215)
125,453,276296,300,562
150,623,897279,087,347
$
$
49,230
2019
8,163,1155,375,4198,006,1812,392,2616,103,5719,561,3023,778,852
28,808,74313,783,66534,302,51610,168,88122,616,51614,843,076
78,086,21732,470,56133,615,952
(10,511,763)
158,897,014293,390,768126,270,227303,902,531
$
$
2018
9,230,3297,908,4969,316,6505,461,7309,537,6908,670,3971,424,992
7,996,8044,781,6623,671,8052,329,622
56,105,88629,522,88134,214,45035,877,48717,555,894
(21,368,541)
129,172,198268,435,613
142,658,412247,067,072
$
$
-
s
2017
6,719,9404,318,0952,542,3171,994,7903,483,7398,004,8999,998,5925,397,2218,556,0568,427,3731,457,767
35,637,82240,466,809
47,798,49628,239,89130,750,282
r
(34,051,860)
143,749,520235,363,049117,234,349269,414,909
$
65,300
$
Fiscal Yea
a
65,300
2016
3,491,7689,083,3338,982,6144,908,5838,713,0011,558,266
3,403,2952,202,2041,990,379
18,935,41249,444,60624,916,46928,922,14135,331,68556,405,65021,154,694
(37,367,768)
100,803,744279,420,779
141,160,646242,053,011
$
$
938,222124,570
2015
4,981,8713,021,6672,029,9375,436,3602,739,2238,787,7814,724,3808,632,302
Last Ten Fiscal Years
95,398,22610,738,75631,270,85364,430,84711,092,352
62,910,95122,233,87729,164,606
Monroe County, Florid
(29,671,920)
137,755,535238,370,198268,042,118
$
$
(modified accrual basis of accounting)
255
Changes in Fund Balances of Governmental Fund
2014
1,920,9248,202,3458,611,5964,493,4708,285,5414,990,3381,190,415
4,360,8173,063,7931,570,2412,842,370
71,488,37420,219,17129,517,83397,566,34230,270,68967,570,720
(28,367,697)
262,620,468
130,708,005234,252,771
$
$
255
2013
3,944,7181,628,6561,270,8082,223,8481,695,7097,880,2658,535,5254,776,6498,512,0914,808,6431,373,797
91,348,08327,383,72429,263,032
51,869,21819,130,49728,820,391
(10,594,445)
123,735,974203,803,719214,398,164
$
$
2012
6,118,6979,742,3298,303,5627,851,9586,132,7531,554,236
5,472,9101,215,3611,139,6271,778,1791,708,8484,523,854
51,270,54319,094,90130,471,28290,401,84227,301,464
123,106,019203,077,540194,501,091
$
$
PrincipalInterestOther Debt Service Costs390,266
Physical EnvironmentTransportationEconomic EnvironmentHuman ServicesCulture and RecreationCourt RelatedCapital OutlayDebt ServiceTotal ExpendituresExcess of Revenues Over (Under) Expenditures
8,576,449
Revenues:TaxesLicenses and permitsIntergovernmentalCharges for servicesFines and forfeituresInvestment incomeMiscellaneousTotal Revenues Expenditures:General GovernmentPublic Safety
I-8
----------
-
2021
1,434,247
12,895,673
(104,239,318)
$
$
-----
-----
2020
4,000,0006,544,421
(10,668,794)
117,944,851
(115,400,430)
$
$ 105,673,565
--------
-
2019
6,783,848
95,336,94220,940,37017,295,611
(85,981,701)
$
$
-----
-----
2018
97,649,030
32,433,75034,599,90213,231,361
(95,482,878)
(13,000,000)
$
$
-
--------
-
d
2017
r
(9,784,655)
92,065,21325,397,52724,267,205
(93,195,535)
$
$
-----
-----
Fiscal Yea
a
2016
83,406,991
47,212,18848,946,73411,578,966
(81,672,445)
$
$
-
--------
-
2015
79,801,54665,408,26366,784,32137,112,401
(78,425,488)
$
$
Last Ten Fiscal Years
Monroe County, Florid
-------
---
(modified accrual basis of accounting)
177,146
2014
65,968,130
27,412,93228,544,843
(64,836,219)
$
$
--------
--
Changes in Fund Balances of Governmental Funds-Continue
2013
6,593,285
(4,001,160)
84,877,924
(83,745,980)
$
$
----
-------
4.33%3.34%3.17%5.97%10.21%4.32%4.05%6.64%6.92%7.98%
937,954
2012
9,514,403
65,998,245
(65,060,291)
5,461,341 $
$
Other Financing Sources (Uses)Transfers InTransfers OutRefunding Revenue Note Issued Bonds IssuedNotes PayableProceeds from Sale
Debt ProceedsPremium on Bonds IssuedDiscount on Bonds IssuedPayments to Refunded Bond Escrow AgentCapital Lease Acquisitions of Capital AssetsTotal Other FinancingSources (Uses)Net
Change in Fund BalancesDebt Service as a Percentage of Noncapital Expenditures
I-9
9885
Total
r
Othe
123,106,01 123,735,974 129,201,304 135,342,547 138,625,752 141,204,72 140,282,30 156,350,07 148,328,233
211,264,140
e
)
TDC
a
t
s
1,060,399 1,059,631 1,960,584 1,081,021 1,131,692 1,097,971 1,145,385 1,077,006 1,010,381 1,252,142
Sales Taxes
Tax
LocalSales
25,606,873 27,192,150 30,555,397 34,480,163 36,633,260 36,519,780 32,763,679 39,850,300 32,095,701 56,526,152
Last Ten Fiscal Year
Monroe County, Florid
(modified accrual basis of accounting
TIMP
State
General Governmental Tax Revenues By Sourc
18,649,940 19,196,940 18,653,970 20,161,451 20,817,676 21,510,929 20,805,323 23,583,643 19,863,169 50,409,454
y
Tax
3,144,056 3,895,240 4,348,864 4,297,140 4,579,158 4,564,973 4,095,460 4,981,287 4,011,963 7,065,769
r
Yea
201274,644,751201372,392,013201473,682,489201575,322,772201675,463,966201777,511,075201881,472,461201986,857,839202091,347,019202196,010,623
FiscalPropert
Source: Monroe County Clerk of the Circuit Court Finance Departmen
I-10
f
(1)
alue as a
V
Actual Value
(1)
RateValue
TotalEstimatedAssessed
N/AN/A N/AN/A N/AN/A N/AN/A N/AN/A N/AN/A N/AN/A N/AN/A N/AN/A N/AN/A
Value
Total TaxableDirectActual
a
4.1382 3.9880 4.0165 3.8007 3.8080 3.2475 3.2600 3.1228 3.0260 3.1173
Less
18,727,158,430 19,116,269,813 21,596,270,849 23,031,556,975 25,006,912,714 26,553,651,764 28,464,940,007 30,167,680,090 31,733,227,216
18,542,927,567
Last Ten Fiscal Years
Monroe County, Florid
Commercial
7,679,334,047 8,241,122,698 9,863,211,411 10,505,834,921 11,257,153,269 6,015,518,781 6,061,363,626 6,106,170,011 10,946,283,806
7,818,927,504
Assessed Value and Estimated Actual Value of Taxable Property
PropertyProperty Property
798,092,402 771,466,155 740,963,901 729,104,179 728,961,085 709,815,884 716,716,873 826,204,701 878,507,996 905,787,545
Real Property
8,256,888,373 8,347,419,400 8,713,264,820 9,577,152,035 9,674,350,023 10,315,713,392 10,808,503,930 10,875,740,917 10,917,353,093 11,595,018,803
r
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%
Yea
201217,306,874,296201317,287,606,922201417,903,163,790201521,153,226,046201623,134,080,788201725,238,536,707201826,059,270,000201927,883,537,936202029,530,266,065202130,178,704,674
(1)
Fiscal
EndedResidential CommercialPersonalTax ExemptAssessedTaxTaxablePercentage o
Sept 30Property
Source: Monroe County Property Appraiser N/A - Not Applicable
for each tax year.
I-11
9.95409.96869.91539.45279.61729.64918.52258.6099
10.111610.0724
Total
4269179435
483
8078298
6925758459
9900211288
..........
0
001111110
0000000000
5010468324
6685855458
5665433332
..........
3333333333
---
-------
(1)
3.56503.66003.68103.55003.48403.35603.35803.34303.35203.2840
OperatingServiceSchoolSpecialOverlapping
Overlapping Rates
4457353921
65
23626946
y
8290090381
2335568923
..........
1
111111111
Property Tax Rates
Last Ten Fiscal Years
Monroe County, Florida
----------
Direct and Overlapping Governments
1.28641.33631.39351.50671.50231.69651.80931.93491.28621.3151
OperatingServiceCit
y
2057050
8860870
3810046
1908822
.......
43433333.12283.02603.1173
-------
DebtTotalDebtTotalDebtTotalDirect &
Monroe CountyMunicipalitiesSchool District
2057050803
8860870267
381004621
2
1908822101
..........
4343333333
MillageMillageMillageMillageMillageMillageMillageMillageMillageDistrictsRates
r
2345678901
1111111122
0000000000
Yea
2222222222
Overlapping rates are those of other local governments that apply to property owners within Monroe County. Not all overlapping rates apply to all Monroe County
FiscalOperatingServiceCount
(1)property owners (e.g., the rates for special districts apply only to the proportion of the County's property owners whose property is located within the geographicboundaries of the
special district.)
Source: Monroe County Property Appraiser
I-12
Monroe County, Florida
Principal Property Taxpayers
Current Year and Nine Years Ago
20212012
Percentage ofPercentage of
Taxable Total Taxable Taxable Total Taxable
Assessed Assessed Assessed Assessed
TaxpayerValue RankValue Value RankValue
Ocean Reef Club Inc$ 149,794,463117.90%31,946,095$ 90.17%
Fla. Keys Electric Co-Op 120,127,882214.35%102,807,815 10.55%
Passco Ocean DST 86,903,302310.38%
Casa Marina A Waldorf Astoria 85,688,742410.24%
Galleon Condominium Assoc Inc 81,149,43259.69%61,631,632 20.33%
Key Largo Hospitality 69,054,63768.25%
Pebblebrook Hotel Trust 62,705,65777.49%
SH3 LTD 61,941,41287.40%
City of Key West 60,686,89197.25%48,367,540 30.26%
Windward Pointe II LLC 59,000,000107.05%46,532,794 50.25%
SH5 LTD 43,382,71560.23%
Hyatt Vacation Management Co 47,756,68540.26%
BellSouth/Southern Bell 43,007,77670.23%
NWCL LLC 40,087,82280.22%
Bluegreen Resorts Management 31,336,711100.17%
SH5 LTD
$ 837,052,418100.00%496,857,58$ 52.67%
Source: Monroe County Property Appraiser
I-13
I-13
y
97.0%96.1%96.7%96.3%96.1%97.0%97.0%96.0%97.0%98.0%
Percentage of Lev
t
Total Collections to Date
75,231,81072,608,89674,432,41376,709,78377,265,02678,404,43882,463,77987,643,79990,338,710
95,069,452
5,5578,314
3,0403,781
39,03545,52931,61311,303
12,864
N/A
a
Collections in
Subsequent YearsAmoun
y
96.9%95.9%96.6%96.3%96.0%97.0%97.0%96.0%97.0%98.0%
Last Ten Fiscal Years
Monroe County, Florid
Percentage of Lev
Property Tax Levies and Collections
t
Collected within the
Fiscal Year of the Levy
Amoun
75,121,67172,474,23174,342,54776,698,56077,254,28278,390,78382,458,79687,641,30090,338,71095,049,452
r
r
77,534,60575,553,65276,985,35479,657,30280,394,53380,815,24085,024,50491,293,02195,518,60396,989,237
Total Tax
r
2012201320142015201620172018201920202021
EndedLevy fo
Fiscal Yea
September 30Fiscal Yea
Source: Monroe County Tax Collector
I-14
(1)
Capita
(1)
Percentage
N/AN/A N/AN/A
N/AN/A N/AN/A N/AN/A N/AN/A N/AN/A
N/AN/A N/AN/A N/AN/A
181,562,254 208,307,215 202,123,603 193,157,440 174,696,320
45,663,879 40,100,485 62,344,582
132,627,264 161,934,256
a
- - -
567,270 517,270 467,270 - -
- -
Business-Type Activities
- 24,060,741 - - 748,000
- - - -
-
Last Ten Fiscal Years
Monroe County, Florid
Ratios of Outstanding Debt by Type
6,060,000 - - - - - - - -
-
- - - - -
- -
- - -
Governmental Activities
- - - 31,566,220 16,000,000 15,000,000 15,250,000 13,125,000 11,000,000 8,875,000
9,453,109 14,485,806 41,458,400 59,480,817 92,085,120 119,769,209 153,497,215 154,013,603 151,847,440 139,543,320
YearBondsNotesPayableLeasesBondsNotesLeasesGovernmentIncome
201229,583,500201325,097,409201420,418,912201541,580,227201653,849,136201746,793,045201839,560,000201934,985,000202030,310,000202125,530,000
See the Schedule of Demographic and Economic Statistics on page I-21 for personal income and population data.
FiscalRevenueRevenueLoansCapitalRevenueRevenueCapitalPrimaryof PersonalPer
Note: Details regarding the County's outstanding debt can be found in the notes to the financial statements.(1)
N/A - Not Available
I-15
Monroe County, Florida
Ratios of General Bonded Debt Outstanding
Last Ten Fiscal Years
Percentage of
Estimated
GeneralLess: AmountsActual Taxable
Fiscal ObligationAvailable in DebtValue ofPer
YearBondsService FundTotalPropertyCapita
Monroe County does not have any outstanding general bonded debt for years 2011-2021
I-16
Monroe County, Florida
Direct and Overlapping Governmental Activities Debt
September 30, 2021
EstimatedAmount
Debt PercentageApplicable to
Direct DebtOutstandingApplicableCounty
Monroe County, Florida$ 100%-$ -
Monroe County does not have any overlapping debt as of September 30, 2021.
Notes:
Overlappinggovernmentsarethosethatcoincide,atleastinpart,
withthegeographicboundariesofthecounty.Thisschedule
estimatestheportionoftheoutstandingdebtofthoseoverlapping
governmentsthatisbornebytheresidentsandbusinessesof
MonroeCounty,Florida.Thisprocessrecognizesthat,when
considering the County's ability to issue and repay long-term debt, the
entireburdenbornebytheresidentsandbusinessesshouldbetaken
intoaccount.However,thisdoesnotimplythateverytaxpayerisa
residentand,therefore,responsibleforrepayingthedebtofeach
overlapping government.
(a)
Netbondeddebtwascalculatedasrevenuebondspayableand
revenuenotespayable.SeeLegalDebtMarginInformationschedule
for net bonded debt calculation.
(b)
Allocation based on assessed valuation.
I-17
Monroe County, Florida
Legal Debt Margin Information
Last Ten Fiscal Years
There are no State laws or County ordinances establishing a legal debt margin for years 2011-2021
I-18
Monroe County, Florida
Pledged-Revenue Coverage
Governmental Activities
Last Ten Fiscal Years
Sales Tax Revenue Bonds
FiscalDebt Service
YearCollectionsPrincipalInterestTotalCoverage
201216,318,450 4,300,000 1,284,405 5,584,405 2.92
201317,172,360 4,465,000 1,120,502 5,585,502 3.07
201417,106,367 4,990,338 1,190,415 6,180,753 2.77
201520,161,451 3,580,000 1,230,981 4,810,981 4.19
201620,817,676 4,689,999 1,205,286 5,895,285 3.53
201721,510,929 6,950,000 1,203,144 8,153,144 2.64
201825,690,144 8,723,442 1,278,587 10,002,029 2.57
201921,405,942 7,203,777 1,005,482 8,209,259 2.61
202017,124,650 10,957,351 7,272,097 18,229,448 0.94
202128,658,729 12,561,316 4,093,206 16,654,522 1.72
Note: Details regarding the County's outstanding debt can be found in the notes to the financial statements.
I-19
-3.60
TIMES
410,000
TOTALCOVERAGE
3.15
-
(c)
SERVICE
748,000
INTEREST
410,000748,000
-
NET DEBT
1,292,091
REVENUEPRINCIPAL
KEY WEST AIRPORT
(b)
Last Ten Fiscal Years
Monroe County, Florida
Business-Type Activities
16,828,590(2,690,289)
Pledged Revenue Bonds and Notes
EXPENSES
(a)
**
14,138,301
REVENUE
8,009,716
20129,301,807201320142015201620172018201920202021
YEAR
FISCALAVAILABLE AVAILABLE
"Available Revenue" shall mean income from operations and such PFC revenues and PFC fund balance necessary to provide the "Expenses" exclude depreciation of fixed assets, OPEB costs,
and amortization of deferred charges which are reflected as expenses in
(a)required coverage.(b)the financial statements** Monroe County Airport Variable Rate Revenue Bonds (KWIA) Series 2006 were redeemed on May 1, 2013.
I-20
(4)
4.7%3.5%3.7%3.6%3.2%3.5%2.4%2.3%4.5%2.5%
Rate
Unemployment
(3)
8,3518,4328,4208,5238,8428,8258,7198,9678,5789,125
Enrollment
(2)
N/A
46.446.546.746.846.746.747.3
Age
(1)
r
56,74557,82969,59374,40960,30383,32892,119
Pe
N/A
Capita
Income
Last Ten Fiscal Years
Monroe County, Florida
(1)
4,245,0504,415,2845,368,1605,765,3745,869,8906,417,3356,911,4367,516,454101,26246.77,876,488106,58348.3
Demographic and Economic Statistics
N/A
Income
Personal
in thousands)
(amounts expressedPersonalMedianSchool
(1)
N/A
76,35177,13677,48279,07777,01375,02776,74582,874
74,809
Population
Bureau of Economic Analysis, U.S. Department of CommerceFlorida Research and Economic Database
U.S. Census Bureau Monroe County School Board
Year
2012201320142015201620172018201920202021
Fiscal
Data sources:(1) (2)(3)(4) N/A = Not Available
I-21
f
t
y
0.90%0.90%
7.41%2.45%2.11%1.01%1.38%1.24%1.08%1.61%
N/AN/A
Employmen
Total Count
Percentage o
k
2012
Ran
s
4308592553164647300968843501025510
9043
2,93111,0472
Employee
f
t
y
a
Employmen
Total Count
Percentage o
k
2021
Ran
Principal Employers
s
Monroe County, Florid
Current Year and Nine Years Ago
55054.60%54064.52%51874.33%47093.93%360103.01%
85037.11%73046.11%50084.18%
2,190127.21%1,701214.23%
Employee
r
Employe Ocean Reef ClubPublix StoresOcean PropertiesMonroe County Sheriff's OfficeLower Keys Medical CenterCity of Key WestSpottswood PropertiesHistoric Tours of AmericaHealth Management
ServicesHistoric Tours of AmericaFlorida Keys Aqueduct Authority
US Armed ServicesMonroe County School DistrictMonroe County Government Source: Key West Chamber of Commerce and the Florida Research and Economic DatabaseN/A = Comparative Period Data
Not Available
I-22
Fiscal Years
Last Ten Fiscal Years
Monroe County, Florida
2012201320142015201620172018201920202021
Full-time Equivalent County Government Employees by Function
Function General government337342328328.9294.4292304303220250.2Public safety587587593.5596.5599.4601630633652651Physical environment57567181798297103163110Transportation63667173777864646461Economic
environment28272728303030302930Human Services28293029292930293023Culture and recreation42414342424242425952Court Related95949495126126125124131130Total1,2211,2371,2421,2571,2741,2761,2801,3221,3281,
306Source: Monroe County Office of Management and Budget
I-23
584 162
6592834186
97 0436984926564
.
13586950314 81
,,1 ,,,,,,,,,,
84 236 6 4591 64
11111532
6 1
1,741,572
13735469987020352
9 6
582513191011365
.
539397883785 87
,,,
,,1 ,,,,,,,,
33 227 7 88031 54
1 1 1 1 1 4862
31
1
,
2
562122
2651644531
18 5950433311 9008
.
34725480737 37
,,4 ,,,,,,,,,,
42 449 9 1581 08
11121,16927392
4 41
,
1
5163677914449387
6 8
96545056731957
.d
01661228428 4 94
,,
,,,3 ,,,,,,e,
s
21 3 449 9 01649
o
1 1 1 2 2 182
l
41
C
895049
25608329538
6260162953951 2122
.
58 13302305268 79
,,5,,,,,,,,,,,
14 1 248 7 01811 90
111229674
3 71
,
2
76007867854327929
7
9667069436501681
.
4036500672217 03
,,
,,,2,,,,,,,,,
01 3 2 449 9 01782 46
1 1 1 2 26303
32
8
,
2
75162
17097930339
857905084291 5773
.
463102223768 90
,,,7,,,,,,,,,,
01 3 3 449 9 8891 35
11111494
3 1
2,689,809
15
-
874
Last Ten Fiscal Years
9,3491,6832,9278,7818,8092,419
Monroe County, Florida
13,00912,93818,64218,81036,435
377,952200,847
2,440,765
Operating Indicators by Function
16
932
7.60
9,5114,5383,2788,4238,4252,505
12,43212,38818,07018,21736,823
401,660201,836
2,379,995
9640115013768857
4
376525662116923
.
909222388 70
193
,,
,,,0 ,,,,,,,,
1 2 218 8 8862 50
4
1 1 1 1 1 604
2012201320142015201620172018201920202021
2
3
2,323,623
Function Sheriff Traffic violationsFire Number of calls answeredAmbulance Number of calls answeredTransportation Street resurfacing (miles) Number of Vehicles on roads
Upper Keys Inbound Outbound Middle Keys Inbound Outbound Lower Keys Inbound Axles crossing toll bridge Animals Collected
Animals AdoptedCulture and recreation Library HoldingsCourt Related Number of cases filedSources: Various county departmentsN/A - Data Not Available
Outbound Airport EnplanementsHuman Services Assisted Living Facility Residents
I-24
44983662183541759
9
6102653
.
131
4
1
49983662123541750
9
410216531
.
131
4
1
47983662133541750
9
710216531
.
2 3 1
4
1
-
5601366243541750
9
31110216531
.
1 3 1
4
1
50013662153541650
0
31140216531
.
131
1
9
42923662123541650
0
1140216531
.
1 3 1
1
a
9
45923762133446450
0
2109214331
.
121
4
1
50093762153740650
0
2109219511
.
Last Ten Fiscal Years
12
Monroe County, Florid
4
1
Capital Asset Statistics by Function
55993762163940650
0
509218511
.
12
4
1
55993662163940650
0
500218511
.
13
1
9
2012201320142015201620172018201920202021
s
n
o
i
t
a
t
S
Airports
Function Public Safety: Sheriff Patrol Units Fire Stations AmbulancesPhysical Environment:Transfer StationsTransportation: Unpaved Streets (miles) Paved Streets
(miles) Bridges Toll BridgeHuman Services: Assisted Living Facility Animal SheltersCulture and Recreation: Parks Acreage Beaches Ball Fields and Courts Other
Facilities LibrariesCourt Related: Courtrooms Sources: Various county departments
I-25
COMPLIANCESECTION
ReportofIndependentAuditoronInternalControloverFinancialReportingandon
ComplianceandOtherMattersBasedonanAuditofFinancialStatements
PerformedinAccordancewith GovernmentAuditingStandards
Government Auditing Standards
Rules of the Auditor General-Local Government Entity Audits
InternalControloverFinancialReporting
deficiency in internal control
material weakness
significant deficiency
ComplianceandOtherMatters
Government Auditing Standards.
ĭĬŷ͵ĭƚƒ
s
MonroeCounty,ResponsetoFinding
PurposeofthisReport
Government Auditing
Standards
ReportofIndependentAuditoronComplianceforEachMajorFederalAwards
ProgramandStateFinancialAssistanceProjectsandonInternalControloverCompliance
RequiredbytheUniformGuidanceandChapter10.550,RulesoftheAuditorGeneral
To the Honorable Mayor and Board County Commissioners
Monroe County, Florida
ReportonComplianceforEachMajorFederalProgramandStateFinancialAssistanceProjects
We have audited the compliance of Monroe County, Fl
requirements described in the U.S. Office of Management and Budget (OMB) Compliance Supplement and the
requirements described in the state of Florida Departm
Supplement, that could have a direct and material effe
state financial assistance projects for the year
programs and state financial assistance projects are ident
accompanying schedule of findings and questioned costs.
Responsibility
Management is responsible for compliance with the requirements of laws, regulations, contracts, and grants
applicable to its federal awards programs and state financial assistance projects.
Responsibility
Our responsibility is to express an opinion on compliance for each of th
programs and state financial assistance projects based on our audit of the types of compliance requirements
referred to above. We conducted our audit of compliance in accordance with auditing standards generally
accepted in the United States of America; the standards applicable to financial audits contained in Government
Auditing Standards, issued by the Comptroller General of the United States; the audit requirements of Title 2
U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards , Rules of the Auditor General.
Those standards, the Uniform Guidance, and Chapter 10.550, Rules of the Auditor General, require that we plan
and perform the audit to obtain reasonable assurance about whether noncompliance with the types of
compliance requirements referred to above that could have a direct and material effect on a major federal award
program or state financial assistance projects occurred. An audit includes examining, on a test basis, evidence
s and performing such other procedures as we
considered necessary in the circumstances.
We believe that our audit provides a reasonable basis for our opinion on compliance for each major federal
awards programs and state financial assistance projects. However, our audit does not provide a legal
OpiniononEachMajorFederalProgramandStateFinancialAssistanceProjects
In our opinion, the County complied, in all material respects, with the types of compliance requirements referred
to above that could have a direct and material effect on each of its major federal programs and state financial
assistance projects for the year ended September 30, 2021.
J-3
ĭĬŷ͵ĭƚƒ
ReportonInternalControloverCompliance
Management of the County is responsible for establishing and maintaining effective internal control over
compliance with the types of compliance requirements referred to above. In planning and performing our audit,
nce with the types of requirements that could have a
direct and material effect on its major federal awards programs and state financial assistance projects to
determine the auditing procedures that are appropriate in the circumstances for the purpose of expressing
our opinion on compliance for each major federal award program and each state financial assistance project
and to test and report on internal control over compliance in accordance with the Uniform Guidance and
Chapter 10.550, Rules of the Auditor General, but not for the purpose of expressing an opinion on the
effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the
A deficiency in internal control over compliance exists when the design or operation of a control over compliance
does not allow management or employees, in the normal course of performing their assigned functions, to
prevent, or detect and correct, noncompliance with a type of compliance requirement of a federal awards
program or state financial assistance project on a timely basis. A material weakness in internal control over
compliance is a deficiency, or a combination of deficiencies, in internal control over compliance, such that there
is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal
program or state financial assistance project will not be prevented, or detected and corrected, on a timely basis.
A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in
internal control over compliance with a type of compliance requirement of a federal award program or state
financial assistance project that is less severe than a material weakness in internal control over compliance, yet
important enough to merit attention by those charged with governance.
Our consideration of internal control over compliance was for the limited purpose described in the first
paragraph of this section and was not designed to identify all deficiencies in internal control over compliance
that might be material weaknesses or significant deficiencies. We did not identify any deficiencies in internal
control over compliance that we consider to be material weaknesses. However, material weaknesses may exist
that have not been identified.
PurposeofReport
The purpose of this report on internal control over compliance is solely to describe the scope of our testing of
internal control over compliance and the results of that testing based on the requirements of the Uniform
Guidance and Chapter 10.550, Rules of the Auditor General. Accordingly, this report is not suitable for any other
purpose.
Tampa, Florida
March 31, 2022
J-4
Monroe County, Florida
Schedule of Expenditures of Federal Awards
and State Financial Assistance Projects
For The Year Ended September 30, 2021
Federal
Federal/State Agency,(Direct & Passed Through
Pass-through EntityASLPass-Through)to
Federal Program/State ProjectsNumberExpenditures Subrecipients
Contract / Grant Number
Department of Health and Human Services:
Aging Cluster:
Passed through Florida Department of Elder Affairs and Alliance
for the Aging:
Title IIIB Grants for Supportive Services & Senior Centers - 202093.044AA-202928,072$
Title IIIB Grants for Supportive Services & Senior Centers - 202193.044AA-212985,268 -
Total Program 113,340 -
Title IIIC2 Nutrition Services (Home Delivered Meals) 202093.045AA-2029 36,650 -
Title IIIC2 Nutrition Services (Home Delivered Meals) 202193.045AA-2129 123,420 -
Total Program 160,070 -
Total Program
Total Aging Cluster 273,410 -
Title IIIE Caregiver Support Services - 201993.052AA-2029 20,303 -
Title IIIE Caregiver Support Services - 202093.052AA-2129 111,703 -
Total Program 132,006 -
CARES ACT - Nutrition Services93.354KCA-2029 48,267
CARES ACT - Caregiver Support93.354KCA-2029 15,302
Total Program 63,569
Passed through Florida Department of Revenue, Agency for
Children and Families, and Office of Child Support Enforcement:
Child Support Enforcement Title IV-D93.563COC44 154,411 -
Passed through Florida Department of Economic Opportunity:
Low Income Home Energy Assistance Program - 201893.568E2012 304,489 -
Total Federal Agency 927,885 -
Department of Energy:
Passed through Florida Department of Economic Opportunity:
Low Income Home Energy Assistance Program/WAP-201781.042E2012 35,791 -
Total Federal Agency 35,791 -
U.S. Election Assistance Commission
Passed through Department of State-Division of Elections
Help America Vote Act Election Security Grant90.4042021-001-MONCO 74,927 -
Total Federal Agency 74,927 -
Department of Justice:
Equitable Sharing Agreement16.922-- 6,250 -
The accompanying notes are an integral part of this schedule.(Continued)
J-5
Monroe County, Florida
Schedule of Expenditures of Federal Awards
and State Financial Assistance Projects
For The Year Ended September 30, 2021
Federal
Federal/State Agency,(Direct & Passed Through
Pass-through EntityASLPass-Through)to
Federal Program/State ProjectsNumberExpenditures Subrecipients
Contract / Grant Number
Direct Program:
Bureau of Justice Assistance:
Bulletproof Vest Program 16.6072020BUBX2002015951,350 -
Edward Byrne Memorial Justice Assistance Grant Program:
16.7382017-DJ-BX-0796
Drug Court Medical Director Initiative
2,6002,600
Edward Byrne Memorial Justice Assistance Grant Program:
16.7382018-DJ-BX-0492
Drug Court Medical Director Initiative
1,5501,550
Total Program 4,15055,500
Passed through Office of the Attorney General:
Victims of Crime Acts16.575 -306,025
O-00728
Passed through Florida Department of Law Enforcement:
Edward Byrne Memorial Residential Substance Abuse Treatment: 2018-J2-BX-0042
16.593
Men's Jail Housed Drug Abuse Treatment Program 2020-RSAT-MONR-1-D2-002
13,842 13,842
Edward Byrne Memorial Residential Substance Abuse Treatment: 2019-J2-BX-0013
16.593
Men's Jail Housed Drug Abuse Treatment Program 2021-RSAT-MONR-1-H7-004
21,989 21,989
Total Program 35,831 35,831
Total Federal Agency 403,606 39,981
Executive Office of the President:
Direct Program:
High Intensity Drug Trafficking Areas95.001G18AC0005A 266,778 -
High Intensity Drug Trafficking Areas95.001G18MI0001A 71,605 -
High Intensity Drug Trafficking Areas95.001G18PR0001A 798,870 -
High Intensity Drug Trafficking Areas95.001G19AC0005A 490,102 -
High Intensity Drug Trafficking Areas95.001G19MI0001A 2,347,911 -
High Intensity Drug Trafficking Areas95.001G19PR0001A 1,287,418 -
High Intensity Drug Trafficking Areas95.001G20AC0005A 2,377,899 -
High Intensity Drug Trafficking Areas95.001G20MI0001A 6,911,558 -
High Intensity Drug Trafficking Areas95.001G20PR0001A 3,059,846 -
High Intensity Drug Trafficking Areas95.001G21PR0001A 2,117,911 -
High Intensity Drug Trafficking Areas95.001G21AC0005A 984,992 -
High Intensity Drug Trafficking Areas95.001G21MI0001A 1,766,229 -
Total Program 22,481,119 -
Total Federal Agency 22,481,119 -
The accompanying notes are an integral part of this schedule.(Continued)
J-6
Monroe County, Florida
Schedule of Expenditures of Federal Awards
and State Financial Assistance Projects
For The Year Ended September 30, 2021
Federal
Federal/State Agency,(Direct & Passed Through
Pass-through EntityASLPass-Through)to
Federal Program/State ProjectsNumberExpenditures Subrecipients
Contract / Grant Number
Department of Transportation:
Direct Program:
Federal Aviation Administration - Airport Improvement Program
Key West AIP-376020.1063-12-0037-060-2019 3,630,433 -
Key West AIP-376120.1063-12-0037-061-2020 4,598,792 -
Key West AIP-3762 - CARES20.1063-12-0037-062-2020 9,063,498 -
Key West AIP-376420.1063-12-0037-064-2021 264,266 -
Marathon AIP-443620.1063-12-0044-036-2020 352,512 -
Marathon AIP-443720.1063-12-0044-037-2020 69,000 -
Total Program 17,978,501 -
Federal Highway Administration:
Highway Planning and Construction Cluster
Passed through Florida Department of Transportation:
Transportation Planning Program 201220.20525222811408/G1A71 472,261 -
Lower Keys Scenic Viewing Area20.205435511-1/G0N68 760,205 -
Total Highway Planning and Construction Cluster 1,232,466 -
National Highway Traffic Safety Administration:
Passed through Florida Department of Transportation:
The Keys to Safe Biking & Hiking20.600G1B36 43,660 -
Aggressive Driving Grant20.600SC-2021-00003 100,000
143,660
Total Federal Agency 19,354,627 -
Coronavirus Aid, Relief, and Economic Security Act (CARES):
Passed through Florida Department of Emergency Management:21.019Y22879,704,423 1,393,949
Coronavirus Aid, Relief, and Economic Security Act (CARES):
Passed through Florida Housing Finance Corporation:21.019078-20201,089,931 -
Total Federal Agency 1,393,94910,794,354
Department of Homeland Security:
Passed through Florida Executive Office of the Governor:
Emergency Management Performance Grant COVID Supplemental97.042G0154 10,445 -
Emergency Management Performance Grant FY20-2197.042G0158 51,040 -
Emergency Management Performance Grant FY21-2297.042G0278 13,740 -
Disaster Grants - Public Assistance - Hurricane Irma97.0364337/Z0002 3,122,970 -
Hazard Mitigation Grant 97.039H0206 947,368 -
FEMA Pre-Disaster Mitigation Program97.046EMA-2019-PC-0001/B0059 48,563 -
Total Program 4,194,126 -
The accompanying notes are an integral part of this schedule.(Continued)
J-7
Monroe County, Florida
Schedule of Expenditures of Federal Awards
and State Financial Assistance Projects
For The Year Ended September 30, 2021
Federal
Federal/State Agency,(Direct & Passed Through
Pass-through EntityASLPass-Through)to
Federal Program/State ProjectsNumberExpenditures Subrecipients
Contract / Grant Number
Passed through the City of Miami:
Homeland Security Grant Program - 201797.067R007580,261 53,180
Total Federal Agency 4,274,387 53,180
National Oceanic and Atmospheric Administration
Post-Hurricane Irma Shoreline/Nearshore Marine Debris Removal11.02220059 1,299,665 -
Total Federal Agency 1,299,665
National Park Service
Passed through Florida Division of Historical Resources:
Pigeon Key Commessary and Honeymoon Cottage H. Irma Repairs15.95720.h.fh.100.006 458,423 -
West Martello Tower Citadel15.95720.h.fh.100.005 275,249 -
Total Program 733,672 -
Total Federal Agency 733,672 -
Department of Housing and Urban Development:
Passed through Florida Department of Community Affairs:
Community Development Block Grant - Voluntary Home Buy Out14.228I0092 517,598 -
Total Federal Agency 517,598 -
Environmental Protection Agency:
Florida Keys Waterwatch66.436X7-00D83018 18,111 -
MC Canal Management Master Plan66.436X7-02D01921 55,997 -
Monroe County Canal Restoration66.436X7-01D00020 29,999 -
Water Quality Management Planning 2017-201866.45400476018/MN008 28,657 -
Total Federal Agency 132,764 -
United States Treasury Department:
Equitable Sharing Agreement21.000-- 601,057 -
RESTORE Coral Reef Restoration21.015RDCGR170068-01-00 221,850 -
RESTORE Coral Reef Restoration21.015RDCGR170099-01-00 53,276 -
Total Program 275,126 -
Total Federal Agency 876,183 -
Total Expenditures of Federal Awards$ 61,906,578$ 1,487,110
The accompanying notes are an integral part of this schedule.(Continued)
J-8
Monroe County, Florida
Schedule of Expenditures of Federal Awards
and State Financial Assistance Projects
For The Year Ended September 30, 2021
Federal/State Agency,
Pass-through EntityCSFA State
Federal Program/State ProjectsNumberExpenditures
Contract / Grant Number
Florida Executive Office of the Governor:
Emergency Management Programs FY20-FY2131.063A011074,720$
Emergency Management Programs FY21-FY2231.063A019321,439
Total Department 96,159
Florida Department of Children and Families:
Community Care for Disabled Adults - FY18-FY2160.008KG07315,864
Total Department 15,864
Florida Department of Elder Affairs:
Passed through The Alliance for Aging:
Alzheimer's Disease Initiative - 201965.004KZ009769,976
Alzheimer's Disease Initiative - 202065.004KZ219721,507
Total Department 91,483
Florida Department of Health:
EMS County Award 64.005C904459,754
EMS Matching Grant64.003M90371,800
Total Department 61,554
Florida Department of Environmental Protection:
Small County Consolidated Grant37.012SC12393,750
Statewide Surface Water Restoration and Wastewater Projects:
Monroe County Marine Debris Removal37.039LP44074501,459
FL Keys Reasonable Assurance Plan Water Quality Monitoring37.03900476018/MN00811,705
Total Program 513,164
Florida Keys National Marine Sanctuary Support:
MC Canal #84 and Canal #475 Culvert Permitting and Procurement37.051SD011 95,660
Florida Resilient Coastal Program37.098R2111 75,000
Monroe County Mobile Vessel Pumpout Service NAMV396 207,157
Total Department 984,731
Florida Department of Juvenile Justice:
Intensive Delinquency Diversion Service80.02210634 147,730
Total Department 147,730
The accompanying notes are an integral part of this schedule.(Continued)
J-9
Monroe County, Florida
Schedule of Expenditures of Federal Awards
and State Financial Assistance Projects
For The Year Ended September 30, 2021
Federal/State Agency,
Pass-through EntityCSFA State
Federal Program/State ProjectsNumberExpenditures
Contract / Grant Number
Florida Department of State:
State Aid to Libraries - 2020-202145.03021-ST-3547,726
Total Department 47,726
Division of Historical Resources:
Historic Jail at Jackson Square45.03220.h.sc.100.022177,772
Total Department 177,772
Florida Department of Transportation:
Pigeon Key Ferry Service55.02341454515802/ARX57156,769
Total Program 156,769
Aviation Development Grants:
Key West Airport55.00443880219401/G1P09374,000
Key West Airport55.00443928519401/G0E77325,906
Key West Airport55.00443866619401/G0E47361,226
Key West Airport55.00443928529401/G1Q04221,690
Key West Airport55.00444138219401/G0R058,799
Key West Airport55.0044413819401/G0R045,142
Key West Airport55.00444138329401/G1P3314,908
Key West Airport55.00444241919401/G1007278,378
Key West Airport55.00444241819401/G10081,411,946
Key West Airport55.00444528919401/G16675,741
Key West Airport55.00443867419401/G0I56104,178
Key West Airport55.00444797819401/G1Q91189,698
Key West & Marathon Airport55.00443113379402/AQH101,752,459
Marathon Airport55.00443866429401/G1U507,159
Marathon Airport55.00443879619401/G1P0519,149
Marathon Airport Planning Studies55.00443928619401/G0I2289,442
Marathon Airport55.00443959119401/G0U78615,949
Marathon Airport55.00444136319401/G0Q40275,701
Marathon Airport55.00444242219401/G10091,272,369
Marathon Airport55.00444242119401/G123890,942
Marathon Airport55.00444241719401/G1237116,796
Marathon Airport55.00444789319401/G1P52447,647
Marathon Airport55.00444136329401/G1P5049,193
Total Program 8,038,418
Small County Outreach Program and Rural Areas of Opportunity:
1st Street and Bertha Roadway Improvements55.00944195915401/G1M93848,812
Big Pine Key Koehn Subdivision55.00944386515401-G1R204,451
Total Program 853,263
Total Department 9,048,450
The accompanying notes are an integral part of this schedule.(Continued)
J-10
Monroe County, Florida
Schedule of Expenditures of Federal Awards
and State Financial Assistance Projects
For The Year Ended September 30, 2021
Federal/State Agency,
Pass-through EntityCSFA State
Federal Program/State ProjectsNumberExpenditures
Contract / Grant Number
Florida Fish & Wildlife Conservation Commission:
Monroe County Derelict Vessel Removal77.0052010513,181
Monroe County Derelict Vessel Removal77.005201815,838
Monroe County Derelict Vessel Removal77.0052019927,200
Monroe County Derelict Vessel Removal77.0052019275,845
Monroe County Derelict Vessel Removal77.0052034349,530
Monroe County Derelict Vessel Removal77.0052106076,638
Monroe County Derelict Vessel Removal77.0052031428,325
Total Program 276,557
Passed through Department of Environmental Protection
Monroe County Exotic Plant Removal MaintenanceNA13101 - FK164100,000
Monroe County Initial 2020-2021NA13101 - FK-16740,000
Total Program 140,000
Total Department 416,557
Florida Housing Finance Corporation:
State Housing Initiative Partnership Program 2018-201940.901SHIP 16-19 FY18 FUNDS247,938
State Housing Initiative Partnership Program 2019-202040.901SHIP 16-19 FY19 FUNDS247,899
State Housing Initiative Partnership Program 2020-202140.901SHIP 20-23 FY20 FUNDS332,475
State Housing Initiative Partnership Program 2021-202240.901SHIP 20-23 FY21 FUNDS360,000
Total Department 1,188,312
Total Expenditures of State Financial Assistance12,276,338$
The accompanying notes are an integral part of this schedule.(Continued)
J-11
Monroe County, Florida
Notes to Schedule of Expenditures of Federal Awards and
State Financial Assistance Projects
For the Year Ended September 30, 2021
The Schedule of Federal Awards and State Financ
presents a summary of the activity of all the Federal and State grant programs of Monroe
reporting entity is defined in Note 1 of the not
Federal awards are presented for each federal agency by the Assistance Listing Number
(ASL) and and state awards are presented for each state agency by the Catalog of State
Financial Assistance (CSFA) number when available in the grant agreements or
For grants that have not yet been assigned a ASL or CSFA number, the schedule includes
the grant with a ASL or CSFA number of NA for not available and categorizes the funding
under the sub-heading of Other Financial Assistance.
The Expenditures of Federal Awards and State financial Assistance is presented on a
modified accrual basis of accounting for governmental fund types and the full accrual basis
for proprietary fund types, as described in the notes to the financial statements; however,
subrecipient expenditures are included when paid. The information in the Schedule is
presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements
for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the
Schedule may differ from amounts presented in, or used in the preparation of the basic
financial statements.
During the fiscal year ending September 30, 2021, Monroe County elected not to use the
10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
J-12
Monroe County, Florida
Notes to Schedule of Expenditures of Federal Awards and
State Financial Assistance Projects
For the Year Ended September 30, 2021
The County participates in federal and state grant programs that are governed by various
rules and regulations of the grantor agencies. Amounts received or receivable from grant
agencies are subject to financial and compliance audits by the grantors or their
representatives. Any disallowed claims, including amounts already collected, may
constitute a liability of the applicable funds. The amount, if any, which may be disallowed
by the grantor, cannot be determined at this time, although the County expects such
amounts, if any, to be immaterial.
In FY 2021, the Department of Homeland Se
Agency (FEMA) obligated $8,421,324 for Monroe County under its Di
Public Assistance Grant Program (ASL #97.036) for the County
Irma. Of this amount, $3,122,970 where for expenditures incurred in FY 2021. The
remaining obligated amount, $5,298,354 are for expenditures not incurred as of September
30, 2021.
J-13
MONROECOUNTY,FLORIDA
SCHEDULEOFFINDINGSANDQUESTIONEDCOSTS
FEDERALAWARDSPROGRAMSANDSTATEFINANCIALASSISTANCEPROJECTS
FORTHEFISCALYEARENDEDSEPTEMBER30,2021
Financial Statement Section
Type of report the auditor issued on whether the
financial statements audited were prepared in accordance
with GAAP: Unmodified_______
Internal control over financial reporting:
Material weakness(es) identified? X yes no
Significant deficiency(ies) identified? yes X none reported
Noncompliance material to financial yes X no
statements noted?
Federal Awards and State Financial Assistance Projects Section
Internal control over major programs:
Material weakness(es) identified? yes X no
Significant deficiency(ies) identified? yes X none reported
Type of a
federal awards programs and state financial assistance projects: Unmodified________
Any audit findings disclosed that are required to be
reported in accordance with 2 CFR 200.516(a)
and/or Chapter 10.550 yes X no
J-1
MONROECOUNTY,FLORIDA
SCHEDULEOFFINDINGSANDQUESTIONEDCOSTS
FEDERALAWARDSPROGRAMSANDSTATEFINANCIALASSISTANCEPROJECTS
FORTHEFISCALYEARENDEDSEPTEMBER30,2021
Identification of major federal awards programs and state
financial assistance projects:
Federal Awards Programs:
______________________
Name of Program or Cluster Assistance Listing Numbers
U.S. Department of Transportation
Airport Improvement Program and COVID-19 Airport
Program 20.106
U.S. Department of Treasury
Coronavirus Relief Fund 21.019
U.S. Department of Homeland Security
(Presidentially Declared Disasters) 97.036
State Financial Assistance Projects:
____________________________________________________________________
Name of Program or Cluster CSFA Number
Florida Department of Transportation
Aviation Development Grants 55.004
Dollar threshold used to distinguish between Type A and Type B programs:
Federal $ 1,880,647
State $ 750,000
Auditee qualified as low-risk auditee for federal purposes X yes no
J-1
MONROECOUNTY,FLORIDA
SCHEDULEOFFINDINGSANDQUESTIONEDCOSTS
FEDERALAWARDSPROGRAMSANDSTATEFINANCIALASSISTANCEPROJECTS
FORTHEFISCALYEARENDEDSEPTEMBER30,2021
Part II - Schedule of Financial Statement Findings
This section identifies the significant deficiencies, material weaknesses, fraud, illegal acts, violations of provisions
of contracts and grant agreements, and abuse related to the financial statements that are required to be reported
in accordance with Government Auditing Standards.
Finding 2021-001 Material Weakness in Internal Control over Construction-in-Progress Recognition
Criteria: The County is responsible for establishing and maintaining internal controls over financial reporting
including distinguishing period expenses from construction in progress (capital asset) additions.
Condition: During the year ended September 30, 2020, the County added $7,381,343 of expenditures as
construction in progress for capital projects even though the County did not acquire title upon completion of
construction. During fiscal year 2021, another $4,598,794 of such expenditures were recorded in construction in
progress prior to the County realizing that such costs should be expensed, after which the County corrected the
error.
Effect: To restate capital assets and net position as of September 30, 2020 resulting in a reduction of previously
reported capital assets and net position in the amount $7,381,343. The 2021 recording error of $4,598,794 was
corrected during the fiscal year.
Cause: Management determined that a previous policy to capitalize certain costs related to capital outlays
whether or not the County would retain the title to the asset upon completion of construction, was in error.
However, once management realized this incorrect accounting treatment, corrective action was taken.
Recommendation: We recommend that the County revise the capitalization policy over capital assets to ensure
that only expenditures related to capital projects owned by the County are included as construction in progress
and other items are expensed in the proper period.
We agree with the finding.
Part III - Federal Award Findings and Questioned Costs
This section identifies the significant deficiencies, material weaknesses, and material instances of noncompliance,
including questioned costs, as well as any material abuse findings, related to the audit of major federal programs,
as required to be reported by 2 CFR 200.516(a) of OMB Uniform Guidance.
There were no findings required to be reported by 2 CFR 200.516(a).
Part IV - State Project Findings and Questioned Costs
This section identifies the significant deficiencies, material weaknesses, and material instances of noncompliance,
including questioned costs, as well as any material abuse findings, related to the audit of major state projects, as
required to be reported by Chapter 10.550, Rules of the Auditor General - Local Governmental Entity Audits.
There were no findings required to be reported by Chapter 10.550,
Governmental Entity Audits.
J-1
CORRECTIVE ACTION PLAN
Material Weakness
al Control over Construction-in-Progress
Recognition
Name of Contact Person: Pam Radloff, Finance Director
Corrective Action: The County revised its policy so capital outlays that result in the County not
having title to the completed project will be expensed annually rather than classified as
construction in progress. In addition, the County updated its construction-in-progress schedule so
staff are asked to review whether the County will be acquirin
construction. The revised schedule requires the preparer to expense, rather than capitalize, the
capital outlay if the answer to this question is no.
Proposed Completion Date: Immediately
MONROECOUNTY,FLORIDA
SUMMARYSCHEDULEOFPRIORAUDITFINDINGS
FEDERALAWARDSPROGRAMSANDSTATEFINANCIALASSISTANCEPROJECTS
FORTHEFISCALYEARENDEDSEPTEMBER30,2021
Prior Year Findings
There were no findings in the prior year.
J-1
IndependentManagementLetter
To the Honorable Mayor and Board County Commissioners
Monroe County, Florida
ReportontheFinancialStatements
We have audited the financial statements of the governmental activities, the business-type activities, the
discretely presented component unit, each major fund, and the aggregate remaining fund information of Monroe
County, Florida (the "County"), as of and for the fiscal year ended September 30, 2021, and have issued our
report thereon dated March 31, 2022.
Responsibility
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America; the standards applicable to financial audits contained in Government Auditing Standards, issued by
the Comptroller General of the United States; the audit requirements of Title 2 U.S. Code of Federal Regulations
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal
Awards
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 the Financial Statements Performed in Accordance with
Government Auditing Standards; Report of Independent Auditor on Compliance for Each Major Federal Awards
Program and State Financial Assistance Projects and on Internal Control over Compliance Required by Uniform
Guidance and Chapter 10.550, Rules of the Auditor General; Schedule of Findings and Questioned Costs; and
Report of Independent Accountant on Compliance with Local Government Investment Policies and E911
Requirements of Section 365.172 and 365.173, Florida Statutes. Disclosures in those reports and schedule,
which are dated March 31, 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. Reference to whether corrective actions have been taken is provided in separate management letters for
each County agency, where applicable. 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. Such disclosure is included in notes to the financial
statements.
FinancialConditionandManagement
Sections 10.554(1)(i)5.a. and 10.556(7), Rules of the Auditor General, require us to apply appropriate
procedures and communicate the results of our determination as to whether or not the County has met one or
more of the conditions described in Section 218.503(1), Florida Statutes, and to identify the specific condition(s)
met. In connection with our audit of the financial statements of the County, the results of our tests did not
indicate the County met any of the specified conditions of a financial emergency contained in
Section 218.503(1), Florida Statutes.
K-1
ĭĬŷ͵ĭƚƒ
Pursuant to Sections 10.554(1)(i)5.b. and 10.556(8), Rules of the Auditor General, we applied financial condition
assessment procedures for the County. It is management's responsibility to monitor the County's financial
condition, and our financial condition assessment was based in part on representations made by management
and the review of financial information provided by same.
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.
SpecificInformation
As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)6, Rules of the Auditor General,
Monroe County, Florida, reported:
a.
as 4.
b.The total number of independent contractors to whom nonemployee compensation was paid in the last
s fiscal year as 7.
c.All compensation earned by or awarded to employees, whether paid or accrued, regardless of
contingency as $325,428.
d.All compensation earned by or awarded to nonemployee independent contractors, whether paid or
accrued, regardless of contingency as $6,720.
e.Each construction project with a total cost of at least $65,000 approved by the Authority that is scheduled
to begin on or after October 1 of the fiscal year being reported, together with the total expenditures for
such projects as follows: None
f.A budget variance based on the budget adopted under Section 189.016(4), Florida Statutes, before the
beginning of the fiscal year being reported if the Authority amends a final adopted budget under
Section 189.016(6), Florida Statutes, as $-0-.
The required information for the Monroe County Comprehensive Plan Land Authority is fulfilled by inclusion in
separately presented stand-alone audit reports.
DeepwaterHorizonOilSpill
Federal and State laws, regulations, contracts or grant agreements related to the receipt and expenditure of
unrestricted and, therefore, do not have related compliance requirements.
AdditionalMatters
Section 10.554(1)(i)3., Rules of the Auditor General, requires us to communicate noncompliance with provisions
of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an
effect on the financial statements that is less than material but which warrants the attention of those charged
with governance. In connection with our audit, we did not have any such findings.
Reference to such matters is provided in separate management letters for each County agency, where
applicable.
K-2
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 31, 2022
K-3
ReportofIndependentAccountantonCompliancewithLocalGovernmentInvestment
PoliciesandE911RequirementsofSections365.172and365.173,FloridaStatutes
To the Honorable Mayor and Board County Commissioners
Monroe County, Florida
investment policy requirements of Section 218.415, Florida Statutes, and E911 requirements of
Sections 365.172 and 365.173, Florida Statutes, during the year ended September 30, 2021. Management of
the specified requirements. Our responsibility is to
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 County complied, in all material respects, with the specified
requirements referenced above. An examination involves performing procedures to obtain evidence about
whether the County 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 determinati
requirements.
In our opinion, the County complied, in all material respects, with the local investment policy requirements of
Section 218.415, Florida Statutes, and E911 requirements of Sections 365.172 and 365.173, Florida Statutes,
during the year ended September 30, 2021.
The purpose of this report is to comply with the audit requirements of Sections 218.415, 365.172, and 365.173,
Florida Statutes, and Rules of the Auditor General.
Tampa, Florida
March 31, 2022
K-
ĭĬŷ͵ĭƚƒ
OTHERINFORMATION
MONROE COUNTY, FLORIDA
SCHEDULE OF RECEIPTS AND EXPENDITURES OF
FUNDS RELATED TO THE DEEPWATER HORIZON OIL SPILL
FOR THE YEAR ENDED SEPTEMBER 30, 2021
Amount Amount
Received in the Expended
2020-21in the 2020-21
Fiscal YearFiscal Year
Source
Environmental Clean Up Consortium:
British Petroleum
Agreement No. 140596$ 1,917$ -
$ 1,917$ -
Note to Schedule of Receipts and Expenditures of Funds Related to the Deepwater Horizon Oil Spill:
InFY2015,MonroeCountyreceived$1,107,947fromBritishPetroleumasasettlementunderAgreementNo.
140596.InFY2021,theCountyearned$1,917ininterestearningsonthesettlementfundsreceivedfromBritish
Petroleum.FromFY2016throughFY2021,theCountyearned$71,213ininterestearningsonthesesettlement
funds bringing the total settlment and earnings to $1,179,160.
L-1