Fiscal Year 1985 MONROE COUNTY, FLORIDA
FINANCIAL STATEMENTS
S mTEMBER 30, 198
MONROE C Y, FLORIDA
FINANCIAL STATEMENTS
SEPTEMBER 30. 1985.,
KEW & ROSASCO
CERTIFIED PUBLIC ACCOUNTANTS
CONTENTS
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Independent Auditors' Opinion l
General Purpose Fi nancia | Statements:
Combined Balance Sheet - All rund Types and Account Groups 2-3
Combined Statement of Revenues, Expenditures and Changes
in rund Balances - All 3overn/nenfa | Fund Types 4
Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual - General and
Special Revenue Fund Types 5
Combined Statement of Revenues, Fxpansos and Changes in
Fund Equity - All Proprietary Fund Types 6
Combined Statement of Changes in Financial Position - All
Proprietary Fund Types 7
Notes to Combined Financial Statements 3-19
Supplemental Statements:
Clerk of the Circuit Court:
Ba |aice Sheet 21)
Statements of Revenues and Opendifuros -
Governmental Fund Tyne and Receipts and Dishursanenfs -
Fiduciary Fund Type 21
Property Appraiser:
Balance Sheet 22
Statement of Revenues and Fxpendifures 23
Supervisor of Elections:
Sfofemen+ of Revenues and Expenditures 24
Sheriff:
Balance Shoots - All Fund Types and Account Groups 25
Statements of Revenues and Expenditures - Governmental
Fund Types and Receipts and Disbursements - Fiduciary
Fund Types 26
Tax Collector:
Balance Sheets - All Fund Types 27
Statements of Revenues and Expenditures - Governmental
Fund Type and Receipts and Disbursements - Fiduciary
Fund Types 2R
Management Letters 29-50
Single Audit Act Compliance Lnffar 51-52
KEMP �j R[)SASCO
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ORV|Sm. KEmP' [.P.A. (305) 290258/ msmasn OF 4wER|cAw INSTITUTE
v/M. 0. xBmP, C.P.A. AND PLOmoA INSTITUTE OF
perEn L. RCSAscO. //` C.P.A. [snT|nsD pUsu|[ ACCOUNTANTS
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Honorable Members of the
Runrd of County Connissioner�
Monroe County, Florida:
We have examined the general purpose financial statements of Monroe County
(the "County") as of September 50~ 1985 and for the year then onded° listed in
the accompanying table of contents. Our examination was mode in accordance
with generally accepted auditing standards and, accordingly, included such
tests of the accounting records and such other auditing procedures as we con-
sidered necessary in the circumstances.
In our opinion, such general purpose financial statements present fairly the
financial position of the combined funds and account groups of the County at
September 30r 1995 and the rasu |fs of oparufions of such combined funds and
changes in financial position o/ the proprietary fund types for the year then
ended in conformity with generally accepted accounting principles applied on a
basis consistent with that of the preceding year.
Our examination was made for the purpose of forming an opinion on the general
purpose financial statements token as u whole. The supplemental statements
listed in the accompanying table of contents are presented for purposes of
additional analysis and are not a required part of the gmnora| purpose finan-
cial statements. Such information has been subjected to the auditing proce-
dures applied in the examination of the general purpose financial statements
and, in our opinion, is fairly stated in all material respects in relation to
the general purpose financial statements taken as a whole.
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Kemp & Rosasco
Certified Public Accountants
February 21 , 1986
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NOTES fO COMP I NE[1 E l NANC I AL STA F E4EN rs
NOTE 1 - GENERAL INFORMATION
Description - Monroe County (the "County") is a non-chartered political
suhdivision of the State of Florida and is authorized the power of self-
government by the Constitution of the :Mate of Florida and Florida
Statutes. The Roard of County Com& 50 aners (the "Board") is the legisla-
tive and governing body of the County® A County Administrator is appointed
by the Board and is responsible for administrative and budgetary control of
the resources of the County maintained in the funds ,and account groups
listed below®
The Constitution of the Sate of Florida also provides for five
Constitutional Officers with specific duties and reporting responsibilities
prescribed by the Statute. The Officers are:
Clerk of the Circuit Court
County "roherty Appraiser
Supervisor of Elections
County Sheriff
County Tax Collector
Annual operating budgets of these: Officers are suhmitted to the Board for
approval . Funding for the operations of these Officers is provided pri-
marily from general revenues of the County and supplemented by fees charged
by the Officers pursuant to Statute.
The financial statements included in this Annual Report represent all of
the funds and account groups of the County as a single unit of local
government over which the Board exercises fiscal contril
basis of Presentation - The County" s accounting system is organized and
operated on a NEW account group basis. A fund is defined as a fiscal
and accounting entity with a self-balancing scat of accounts which is segre-
gated for the purpose of carrying on specific activities or attaining cer-
tain objectives. Account groups are used to establish accounting cant-al
and accountabi I ity for the County's general fixed assets and the unmatured
principal of its general long-term debt.
Under Statutes of the Stair: of Florida, the five Constitutional Officers
report their annual receipts and disbursements to the appropriate division
of State; Government. For reporting purposes herein, the operations of the
Constitutional Officers have been combined with the appropriate funds and
account groups and the individual operations and financial positions of the
Clerk of the Circuit Court, the Supervisor of Elections, the County
Property Appraiser, County Sheriff and Tax Collector have been reflected in
separate supplemental statements to the financial statements.
nts.
-9-
"IONROE COUNTY Fl OR I DA
NOTES 10 C0,1E3 I NED F I NANC I AE STATEMENTS
SEPTEMBER 30, 1985
NOTE 1 - GENERAL INFORMATION (Continued)
The accounting policies of the County conform to generally accepted
accounting principles as applicable to government units® This report, the
accounting systems and classification of accounts conform to standards of
the National Council on Governmental Accounting (NCGA) and the Municipal
Finance Officers Association of the United States and Canada, WFOA) ,
published in "Statement 1 , Governmental accounting, .Auditing and Financial
Reporting Principles" which is a restatement of "Governmental Accounting
and Financial ReportingP° (GAAFR) a
The County maintains the three categories of fund types and certain account
groups recommended in Statement 1 as described below:
Governmental Fund Types:
General Fund - Used to account for general operations of the County and
all transactions which are not accounte' for in other funds or account
groups. The General Fund includes the operations of the five
Constitutional Officers®
S ec1aI Revenue Funds - Used to account for the proceeds of specific
revenue sources (other than special assessments) or to finance specified
activities as required by law.
Debt Service Funds - Used to account for the payment of interest and
principal on outstanding general obligation debt® Debt of the
Enterprise Funds are reported under that fund heading®
sec i a 1 Ass essment�Funds - Used to account for the construction of
improvements or provision of .services which are to be paid for wholly or
in part f rori special assessments levied against benefited property®
Capital Protect Funds - Used to account for the purchase or construction
of major capital facilities which are not financed by proprietary funds®
Proprietary Fund Types:
enterprise Funds - Used to account for the financing of services to the
general public where all or most of the costs involved are paid in the
fora of charges to users of such services® Enterprise operations of the
County are the operations of the Card Sound Road and Bridge Toll
Fac i I i ty (the "bridge") and the Municipal Services District (the "WISD1P)
-9-
r1 NR01 GOU"ITY Fl OR 10A
[" [" /fin q[]f \ L s...p_._'._�. T"_( ['' (`
NO f ES f O CVI� B I NE D I I NA C i i�L S !ATEMENTS
SEP FEVIBER 30, 1985
NOTE 1 - GENERAL INFORMATION (Continued)
internal Service Fund - Used to account for services and commodities fur-
nished by a designated activity of tho County to other departments of the
County® Internal service operations are those of the County's Workmen' s
Compensation Self-Insurance Fund and Group Health Self-Insurance Fund.
Fiduciary Fund Types:
AyaEj Funds_ - Used to account for as3ets held in a trustee or agency
capacity for other funds, governmental units and individuals® These funds
include certain fiduciary oper_ t-ions of the Clerk of the Circuit Court,
Tax Collector, and Sheriff®
A summary of the cash transactions of such fiduciary operations for the
year is as follows:
Collections pending future distribution:
Taxes 1 49,961 ,792
Bonds and other 1 ,365,759
Collections pursuant to court ardor 1 ,274,819
Fines and forfeits 1 ,249,314
Charges for sorvices 1 ,046,732
Licenses 498,973
State ,fury 9 witness fees 77,687
Interest 126,645
Mortgage bids y �746�988
Total Collections 56,348,610
Distribution of collections 55 775 608
Net Collections 573,002
Cash and investments, September 30, 1984 - -1 �725,360
Cash and investments, September 30, 1985 S 2,298,36
Account Groups:
General Fixed Assets Croup of Accounts - Used to _account for fixed assets
-------------
owned by the County which are not accountel for in the enterprise funds.
General Lone-Tern Debt, `;roun of Accounts - Used to account for the long-
-
tF,rM-indebtness of the County other than those which are obligations of
the enterprise or special assessment funds.
-10-
t�10^JF,OE C0 Ur1TY, FLO1 I DA
NOTES fC} CONIR I NEC) F I NANC f AL STATEMENTS
S EP T 11 VIB P 3Q_19S5
NOTE 1 - GENERAL INFORMATION (Continued)
Budget Requirements - Pursuant to Florida Statutes, the County is required
to establish budgetary systems and approve annual budgets. The County's
budgeting process, which conplies with State Statutes, is based on estima-
tes of cash receipts, cash disbursements and (encumbrances which are
approved by the Board. Beginning funds, available for financing current
appropriations, are considered in the budgetary process but are not
included in the financial statements of the governmental fund types as
budgeted revenues. Adjustments necessary to convert the estimated cash
receipts and disbursements basis of budgeting to the accrual or modified
accrual basis of accounting are immaterial and have not been reflected in
the budget amounts in the accompanying financial statements. Unencumbered
appropriations lapse at year end.
For comparative purposes, oortions of the budget in the financial state-
ments have been reclassified to conform with reporting classifications of
actual revenues and expenditure,.
ROTE 2 - SU11VIARY OF SIGNIFICANT ACCOUNTIAG POLICIES
Basis of Accounting - The governmental fund and fiduciary fund types use
the modified accrual basis of accounting. Under the modified accrual
basis, revenues are recorded as received in cash except for revenues
susceptible to accrual and avenues of a material amount that have not
been received at the normal time of receipt. Expenditures are recorded
when obligations are incurred or when benefits are received, except for
interest on general obligation bonds which is recorded in the accounting
period in which payment becomes due.
The proprietary fund types use the accrual basis of accounting whereby
revenues are recorded when earned and expenditures are recorded when obli-
gations are incurred or when benefits are received.
Investments - The County's investments include certificates of deposit,
U.S. Treasury bills and U.S. Government obligations. Investments are
recorded at cost or amortized cost which approximates market value.
Restricted Assets .:and Reserves - Assets required to be segregated pursuant
to-a bond ndeentare-are-i deaf i f i ed as restricted assets. Off-setting
reserves are established by charges to retrained yearnings.
-11-
M0NR0E COUNTY, -FLOR|-DA
NOTES T0 COMBINED FINANCIAL STATEMENTS
SEPTE,48ER 30, 1485
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Grants from Qovernnuent A ies - Certain grants under various Federal and
State programs�are -��� �n -fhe General Fund. Grant monies received
are disbursed for goods and services as prescribed under the respective
grant program or transferred to other County funds or government entities
for ultimate distribution under the fnr'ns of the grants.
In addition, the County receives certain monies under revenue sharing and
other Federal and State programs. These programs, as wo| | as those grant
programs discussed above, are dependent on financial assistance by the
Federal and State Government.
Pension Costs - The County participates in the noncontributory Florida
Retirement-Ty-stem (the "System") which covers substantially all of the
County' s full-time employees, without contribution from them. The Cuuntyrs
rate of contribution, based upon total salaries, is defined by the System
and pension costs are recorded in the period that salaries are earned.
Sea Note 6.
Property d Depreciation - All property of the County is recorded in the
Cenera | Fixed Assets Group of Accounts, with the exception of property of
the enterprise funds which are recorded in those funds' accounts.
Improvements, other than buildings, including roads, bridges, curbs, gut-
ters, streets and sidewalks are not reported in the General Fixed Assets
Group of Accounts since these assets are normally immovable and of value
only to the County.
Property is recorded at cost, except for contributed property which is
recorded at fair market value at the date of contribution. Expenditures
for maintenance, repairs and minor renewals and betterments are expensed
as incurred. Major renewals and betterments are treated as property
acquisitions.
Depreciation and depletion expense is provided on property and sanitary
landfill sites recorded in the enterprise funds using the straight-line
method over the estimated useful lives of the assets. Depreciation is not
provided on the General Fixed Assets Group of Accounts. Ranges of depre-
ciable lives are as follows:
Years
Sanitary |ondf | | 1 sites 1-110
Buildings and other improvements 10-20
Bridges and improvements other than buildings 50
Machinery and equipment 3-18
-12-
!IONRDE C0UNTYL FLORIDA
NOTES-TO C0MB|NEO -F|NANC|AL -5TATEVENTS
SEPFEMBER 3O -|985
� � ���
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Upon the disposition of property, the related cost and accumulated depre-
ciation is removod frzm the accounts with a gain or loss on disposition
reflected in net income.
A summary of proprietary fund type fixed assets for the year ended September
30, 1985 follows:
Enterprise
Funds
_____ ___
Land 9 214, 105
Buildings & other
Improvements 154, 181
Roads & bridges 2,512,679
Equipqenf g 337 751
Total Property 12,268,716
Less acc,mu | afed depreciation 3 675 236
Net Property 8^595,480
A summary of changes in Senera| Fixed Assets follows:
8o !onco Balance
Sa f �O 1g84 Additions Deletions Sept. 30 1985
_ue
Land $ 6,389v230 256^050 6v645,280
Buildings & other
improvements 13,399,543 2,046,580 - 14,546,123
Equipment 9J067 961 ___l �5O9� 97 ___ 437J964 ____K} �40094
Total 2/r756�734 $ 3,812,627 $ 437,964 31 , 131 ,497
Discounts _o» BondsPDyab|-e - Discounts on bonds payable are amortized
using the sfrdighf-line method over the maturities of the related bonds.
Combined Financial Information - Total columns in combined financial sta-
_ __ ________________
tenants �hich �re nof�d '�1em�randun Dn /y" aggregate the columnar amounts
presented by fund type and account group. These total columns do not pre-
sent consolidated financial information.
,IONROF ('OUIJTY FLOP I OA
NOTES ro COMBINED FINANCIAL 9TATE'Imrs
SEPTEMBER 30, 1985
NOTE 3 - LONG-TERM DEBT
Long-term debt consists of the following:
Additions
1984 (Reductions) 1985
Payable from restricted assets:
Revenue Bonds, secured by reve-
nues of the Bridge which are
obligations solely of that fund,
payable September 1 , 1997,
bearing interest at 5.75%
payable semi-annually c 1 ,265,000 (440,000) 325,000
Less unamortized discount 7,808
1 247 192 (432,435) 814,757
Improvement Bonds, secured by
revenues of IMSD which are obli-
gations solely of that fund,
payable in installments of
various amounts each October 1
until 2001 , the remainder due
October 1 , 2011 , bearing in-
terest at 9.80 to 11 .25%,
payable semi-annually 7,865,000 (55,000) 7,310,000
Less unamortized discount 18
7 688 778 (48 222) 7,640 556
Total payable from restricted
assets
-14-
MON�OF COUMTY FLOR|D�
���� ��������
NOTE_S__TO C0MR|-NED -F |NANC|-AL-STATEqENTS
5EPFEMBBl 30 1985
NOTE 3 - LONG-TERM DEBT (Continued)
Other long-term debt:
Additions
General Obligation Bonds, y984 (Reductions) y935___
secured by tax levies which
represent obligations of the
County as a whole and not its
individual constituent funds,
bearing interest at rates
from 3° 50 to 4.25% payable
semiannually, redeemed in full
during the year from res-
tricted funds 690*000 (690,000)
Refunding Improvements Revenue
Bonds, secured by Race Track
and Jai Alai Fronton Revenues
received by the County under
Florida Statutes, payable in
installments of various
amounts from July 1 , 1984
until July 1 , 2011 , bearing
interest at rakes from 7.40
to 9.25% payable semiannually 2» 110*000 (25*000) 2» 105,000
Lease obligations, secured by
equipment with purchase costs
of $ 17,356, payable in
monthly installments
totalling $ 447, including
interest imputed at 10.75%. 15,995 (5,428) 10,567
Lease obligation, secured by equip-
ment with purchase cost of
$233,860* payable in semi-annual
installments of $13, 187, includ-
ing interest imputed at 10%* due
November, 1990 - 150»000 150,000
Accrued annual leave 453*018 (6,060) 446,958
Note payable to bank, unsecured,
payable May 1 , 1985 with
interest of 6.910 ______l7700
���� 3p466JJ[5 $ (753.488) � 2 [2 ��i� ���� �� �/
-15-
MONROE COUNTY �����FLOR|DA
NOTE� T0 COMBINED FINANCIAL STATEMENTS
SEPTPIBE� �U l�85
___________
NOTE 3 - LONG-TERM DE0T (Continued)
Additions
1�84 (Reductions) 1985
Balance Brought Forward S 3,446*013 753,488) 2,712°525
Note payable to bank, unsecured,
payable in monthly installments
of $4,533 including interest at
6°9%, due May, 1986. Total a-
mount of borrowing was $120,018 ____________ ____ 80�)L6 _ 8O926
Total other long-term debt ]��6�U[} (6725��) 2 7A3 451
������� � �� ������� ��
Tax anticipation notes:
Note payable to bank, secured
by fox anticipation warrant,
payable in installments of
$20,000 due September 12,
1986 - 1993 from special
assessment funds, bearing in-
terest at 7% 180,000 (20°000) 160,000
Note payable to bank, secured
by tax anticipation warrant,
payable on October 1 , 1985
from capital project funds,
bearing interest at 7~25% 400,000 (400,000) -
Notes payable to bank, secured
by tax anticipation warrants,
payable on or before July 10,
1986 from special assessment
funds, bearing interest at
7°5% � 144 500 144 5UO
Total tax anticipation
notes 580 OOU (27� 5OO) 304 500
Total long-term debt, net
of related discounts $ 12,981 ,983 ( 1 ,428,719) $11 °553,264
-16-
MONROE COUNTY, -FLOR I DA
NOTES TO COMBINED FINANCIAL STATFMENTS
S EPTEMBER 0 1985
NOTE 3 ®- LONG-TERM DEBT (Continued)
The annual requirements to amortize outstanding bonded debt is as follows:
Payable from
September Restricted Tax Antici-
30 Total Assets Other ation Notes
1986 $ 1 ,934,570 $ 918,933 $ 791 , 137 164,500
1987 1 ,307,866 1 ,032,667 255, 199 20,000
1988 1 ,287,829 1 ,025,839 241 ,990 20,000
1989 1 ,279,875 1 ,022,885 236,990 20,000
1990 1 ,268,584 1 ,014,370 234,214 20,000
1991-1995 6, 146,299 5,010,907 1 ,075,392 60,000
1996-2000 5,752,905 4,686,961 1 ,065,944 -
2001-2005 4,434,262 3,376,798 1 ,057,464 -
2006-2010 2,607,325 1 ,550,250 1 ,057,075 -
2011-2015 5�669 262 1t!687 207 575 -
31 ,688,777 25, 161 ,297 6,222,980 304,500
Less:
Unamortized
discount 179,687 179,687 -
Interest 119p955j1336 16,526,297 _3J4291_52�11
Total at present
value 11 ,553,254 8,455,313 $ 2,793,451 $ 304,500
Under the terms of the revenue bond issues, the Card Sound Bridge and MSD are
required among other things, to establish rates and collect fees and charges
which will be sufficient at all times to pay the cost of maintaining and
operating related assets, pay the principal and interest requirements of the
outstanding revenue bonds and create and maintain specified reserves for such
purposes®
NOTE 4 ® SUBSEQUENT EVENT, ADVANCE REFUNDING OF REVENUE BONDS
By resolution adopted December 6, 1985, the County provided for the advance
refunding of the MSD Improvement Revenue Bonds in the principal amount of
$7,810,000 by the sale. of Nonroe County "lunicipal Service District
Refunding Improvement Revenue Bonds, Series 1985. All of the principal
amount of the Series 1985 issue will be used to advance refund the
refunded bonds®
-17-
MONROE COUNTY FLORIDA
NOTES TO COMBINED FINANCIAL STATEMENTS
SEPTEMBER 3O 1985
NOTE 5 - SELF INSURANCE PROGRAM
The County is self-insured for Workmen's Compensation claims up to
$ 125r000 for each occurancm, and maintains coverage for c|mlns in excess
of those amounts to a limit of ID 5,000,000 per occurance with independent
insurance carriers. The liability for Workmen's Compensafion claims,
which is considered adequate by management, represents the estimate for
all claims.
The County is also self-insured for health insurance claims up to $ 25,000
for each occurence and maintains coverage for claims in excess of those
amounts to a limit of $1 ,000,000 per occurence with independent insurance
carriers. As of September 30, 1985 there was no | iabl | 7fy for outstanding
claims.
NOTE 6 - PENSION PLAN
The County participates in the Florida Retirement System (the "System")
which covers substantially all of the Counfy's full-time employees.
Presently, the System does not require contributions from covered
employees. Pension costs for County employees for the year ended
September 30° 1985p as required and defined by the System, approximated
$ 1 °573p000.
Contributions of all participating agencies throughout the State of
Florida are pooled to fund accrued benefits under the System. System
officials have reported that the System has an actuarially computed
unfunded past service liability of approximately $6.5 billion as of July
1 ° 1983p the |afasf valuation data of the plan (a plan valuation is per-
formed every three years) . This amount represents an obligation of the
System and not of the participating agencies. The most recent actuarial
study indicates that, if certain actuarial assumptions are realized and
certain increases to the contribution rates are made, this unfunded past
service liability will be liquidated within 30 years~
NOTE 7 - CONTINGENCIES AND COMMITMENTS
All expenditures financed by Federal and State of Florida grants are sub-
ject to audit by the granting agencies to determine if such expenditures
comply with conditions of the grant. The County believes that no material
| |abi | |fy will arise from any such aud /fs-
-l8-
M0NQOE COUNTY FLOR|DA
NOTES TO COMBINED FINANCIAL STATEMENTS
SEPTEMBER 30 1985
NOTE 7 - CONTINGENCIES AND COMMITMENTS (Continued)
4 number of claims and lawsuits are pending against the County. However,
based on knowledge of facts and advice of the County attorney and outside
counsel , County officials believe that the outcome of these actions will
not have a material adverse effect on the Counfyvs financial position or
results of operations.
NOTE 8 - SCHEDULE OF FEDERAL ASSISTANCE
P C�f�|o N R E � d |f r
/~rz��a* \'�T�/��_«�� Revenues x
Direct
Criminal Justice Other $ 1 ,033,745 $ 1 ,033°745
Federal Revenue Sharing 21. 300 658,805 658,605
Airport Development Aid Program 20. 106 7,845 -
Airport Improvement program 20. 106 632 �47 628 077
Total Direct Federal Assistance 2'332,842 2,320*427
Indirect
Transportation 13.633 79,607 $ 79v607
Senior Community Services 17.235 212,582 203,051
Homemakers 13.633 111 ,466 111 °966
Nutrition 13°635 239v230 239°230
Community Care for the Elderly 13°833 300,268 300,268
Job Training Partnership Act 17.246 54.725 50 596
Total Indirect Federal Assistance $ 998,378 $ 984,718
-19-
MONROE COUNTY, FLORIDA
CLERK OF THE CIRCUIT COURT
SUPPLEMENTAL BALANCE SHEET - AGENCY FUND
SEPTEMBER 301985
Assets:
Cash $ 1 ,283,864
Accounts receivable 69765
Total Assets $ IP29OR629
Liabilities:
Due to Board of County Commissioners $ 129,239
Due to other governments 408,016
Due to others 7539374
Total Liabilities $ 1 ,290,629
-20-
MONROE COUNTY_, FLORIDA
CLERK OF THE CIRCUIT COURT
SUPPLEMENTAL STATEMENTS OF REVENUES/RECEIPTS AND EXPENDITURES/DISBURSEMENTS
FOR THE YEAR ENDED SEPTEMBER 30, 1985
GOVERNMENTAL FIDUCIARY
FUND TYPE FUND TYPE
TRUST AND
GENERAL AGENCY
Revenues/Receipts:
Taxes 3,498,466
Court orders m 1 ,274,819
Fines and forfeitures 1 ,29,31
Mortgage bids 76,988
Charges for services 661 ,727
Other m 24,434
State of Florida m 77,687
Interest 36,507
Licenses 25,900
Board of County Commissioners 1626,974
Total Revenues/Receipts 1 ,626,974 7,815,842
Expenditures/Disbursements:
Personal services 1 ,256,564
Equipment rental 32,041
Operating expenditures 306, 182
Capital outlay 32,167
Trust and agency disbursements 7,170,203
Total Expenditures/Disbursements 1 ,626,974 7,170,203
Excess of Revenues/Receipts over
Expenditures/Disbursements -0- 645,639
-21®
MONROE COUNTY FLOR|OA
PROPERTY APPRAISER
SUPPLEMENTAL BALANCE SHEET - GENERAL FUND
SEPTEMBER 30 1985
Assets ~ Cush $ 46,306
Liabilities and Fund Balance:
Liabilities - Due to other governments $ 70758
Fund Balance 38.548
Total Liabilities and Fund Balance $ 46,306
-22-
MONROE COUNTY FLOR|DA
PROPERTY APPRAISER
SUPPLEMENTAL STATEMENT OF REVENUES AND EXPENDITURES - GENERAL FUND
FOR THE YEAR ENDED SEPTEM0ER 30 1985
Revenues:
Board of County Commissioners 803°713
Other taxing districts 161 248
Total Revenues 964 961
Expenditures:
Personal services 702,336
Data processing services 66v750
Rental 9°218
Operating expenditures 150°396
Capital Outlay 13 491
Total Expenditures 942 lQ I
Excess Of Revenues Over Expenditures 220,770
-23-
MONROE COUNTY FLORIDA
SUPERVISOR OF ELECTIONS
SUPPLEMENTAL STATEMENT OF REVENUES AND EXPENDITURES - GENERAL FUND
FOR THE YEAR ENDED SEPTEMBER 30 1985
Revenues - Board of County Commissioners $ 346 853
Expenditures:
Personal services 204*743
Operating expenditures 81 *768
Capital outlay 60.342
Total Expenditures 346 853
Excess of Revenues Over (Under) Expenditures $ -O-
NOTE: All assets and liabilities are accounted for by the Board of County
Commissioners within the General Fund. Accordingly, a balance sheet is
not presented.
-24-
M0NRDE COUNTY FL0RiDA
S_HER|_FF
__ _
SUPPLEMENTAL BALANCE SHEETS
SEPTEMBER ]O 1985
FIDUCIARY
GOVERNMENTAL FUND TYPES FUND TYPES ACCOUNT GROUPS
SPECIAL TRUST GENERAL LONG-
GENERAL REVENUE AND AGENCY FIXED ASSETS TERM DEBT
Assets:
Cash $ 46,371 $ 13* 126 409*706 $ $ -
Other Current Assets - 1 ,850 - - ~
Property - - - 20716,662 -
Amount to be Provided - - - - 381 962
Total Assets $ 46°371 $ 14,976 $ 409,706 $ 2 716 662 $ 381 ,962
Liabilities:
Due to the Board of County
Commissioners $ 322521 $ - $ ]4,0]8 $ $ -
Due to Others - 3,515 375,668 �
Long-term Debt - - - 381 A62
Total Liabilities 32 521 ] 515 409,706 - 381 .962
Fund Equity:
Investment in General
Fixed Assets - - 2,716*662
Fund Balance 13 850 11 461 ~
Total Fund Equity I] 850 1_1 461 - 2 716 862 -
Total Liabilities and
Fund Equity $ 46 37l $ 14 976 $ 409,706 $ 2 716 662 $ 381,962
-25-
MQNROE COUNTY FLORIDA
SHERIFF
SUPPLEMENTAL STATEMENTS OF REVENUES/RECEIPTS AND EXPENDITURES/DISBURSEMENTS
FOR THE YEAR ENDED SEPTEMBER 30 1985
GOVERNMENTAL FIDUCIARY
FUND TYpES FUND TYPE
SPECIAL
GENERAL REVENUE AGENCY
Revenues/Receipts:
Board of County
Commissioners $ 7,627,522 $ - $ �
Charges for services - 54°793 -
Cash bonds - - 076°820
Interest 61 ,654 - 1 °102
Other 28 105 - 244 5O5
Total Revenues/Reoeipfs 7 7l7 381 5_4 7g3 1 122 427
Expenditures/Disbursements:
Personal services 5°012,001 �
Rental and leases 44°502 - -
Operating expenditures 1 ,980,039 51 ,931 �
Capital outlay 635°580 �
Trust and agency distributions - - 1 107 976
Total Expenditures/Disbursements 7 G72 122 51 931 1 107 976
Excess of Revenues/Receipts Over (Under)
Expenditures/Disbursements 45°239 2,862 14°451
Other Financing Uses -
Operating transfers out 66,511 - -
Excess of Revenues/Receipts Over (Under)
Expenditures/Disbursements and
Other Uses $ (21 ,272) 2,862 $ 14,451
-26-
MDNR0E COUNTY, FLORIDA
TAX COLLErTOR
SUPPLEMENTAL BALANCE SHEETS
SEPTEMBER 3O 1985
GOVERNMENTAL FIDUCIARY
FUND TYPE FUND TYPE
Assets:
Cash $ 20,863 $ 2700355
Investments 420 424 334 437
Total Assets $ 441 ,287 $ 604,792
Liabilities-
Due to Other Governments $ 441 ^287 $ 598^362
Due to Others - 6,430
Total Liabilities $ 441 .4287 $ 604^792
-27-
MONRDE COUNTY FLORIDA
TAX COLLECTOR
SUPPLEMENTAL STATEMENTS OF REVENUES/RECEIPTS AND EXPENDITURES/DISBURSEMENTS
FOR THE YEAR ENDED SEPTEMBER 30 1985
GOVERNMENTAL FIDUCIARY
FUND TYPE FUND TYPE
GENERAL AGENCY
FUND FUNDS
Revenues/Receipts:
Board of County Commissioners $ 858,094
Taxes - 44'431 ,947
Tax sale redemptions - 2»O31 °379
Licenses and permits - 472°973
Charges for services 4150256 3850005
Interest 26, 164 890037
Other 186,408 -
Total Revenues/Receipts 1 485 922 47 410 341
Expenditures/Disbursements:
Personal services 733»029 -
Contractual services 116, 154 ~
Equipment rental 4»872 -
Capital outlay 36,218 -
Operating expenditures 154,583 -
Trust and agency disbursements - 47 4A7 42A
Total Expenditures/Disbursements 1 O44 656 47 4A7 429
Excess of Revenues/Receipts Over (Under)
Expenditures/Disbursements 441 °266 (87»088)
Other Financing Uses - Transfer of excess fees 441 ,266 -
Excess of Revenues/Receipts Over (Under)
Expenditures/Disbursements and Other Uses $ ~O- $ (87.9088)
-28-
KEMP F-1 ROSASC{)
�er/ifietl yob//r A' oxntan/s
1438 KENNEDv DR.
#/2 LVAN| PLAZA 9 p� 0. BOX /529
KEY vVE5T' R 33041 )52n
ORV|SAA. KE/NP' C.P.A. (305) 294'2581 MEMBER OF A/NERiCAN |w5JOUTE
VVM. 0. uEkxP' C.P.A. AND FLORIDA INSTITUTE OF
PETER L. ROSAg[O' Jr., C.P.A. CERTIFIED PUBLIC ACCOUNTANTS
/NARVA E. GREEN' C.P.A.
JOSEPH W. HENDER5ON' C.P.A.
February 21 » 1986
Mr. Donny L. Ko|hage
Clerk Ex Offic|o
Board of County Commissioners
Monroe County, Florida
Key West, Florida 33040
Dear Sir:
We have examined the financial statements of Monroe County, Florida for the
year ended September 30° 1985, and have issued our report thereon dated
February 21 ° 1986° As part of our examination,, we made o study and evaluation
of the Counfy's system of internal accounting control to the extent we con-
sidered necessary to evaluate the system as required by generally accepted
auditing standards. The purpose of our study and evaluation was to determine
the nature, timing, and extent of the auditing procedures necessary for
expressing on opinion on the Cuunfy's financial statements. Our study and
evo| uofTun was more limited than would be necessary to express on opinion on
the system of internal accounting control taken as o whole.
The observations reported herein should be considered in the context of the
responsibility of management for establishing and maintaining o system of
internal accounting ounfro| ° the objectives of and inherent limitations on
such o system, and the definition of o material weakness for purposes of this
report, which are described in the Appendix to this report.
For the purpose of this report, we have classified the significant internal
accounting controls in the following categories:
- General Accounting and Statutory Provisions
- Cash on Hand
- Cosh in Banks
- Cosh Disbursements
- Cush Receipts and Revenues
- Investments
- Property and Equipment
-29-
Mr. Danny L. Kolhage,
Clerk Ex Officio
Board of County Commissioners
Page 2
(Categories Continued: )
- Interfund and Intergovernmental Transfers
- Accounts Payable, Expenditures and Encumbrances
® Purchasing and Contracting
- Payrolls
- Other Current Liabilities
- Bonds Payable
® Surety Bonds and Insurance
Our study included all of the control categories listed above®
Our study and evaluation made for the limited purpose described in the first
paragraph would not necessarily disclose all material weaknesses in the
system. Accordingly, we do not express an opinion on the system of internal
accounting control of Monroe County, Florida taken as a whole® However, our
study and evaluation disclosed no condition that we believe is a material
weakness.
Our examination did, however, disclose the following conditions that, although
not considered by us to be material weaknesses,
are weaknesses in internal
accounting control for which corrective action might be taken.
Municipal Service District
Cash Receipts Records
Observation: We were not able to trace a day's series of receipt forms issued
for waste charges to a deposit, due to the format of the "daily re-cap".
Although daily procedures are functioning well and provide effective controls,
they do not provide a sufficient audit trail ®
Recommendation: The "daily re-cap" should be modified to include the receipt
numbers issued and the series of validated transaction numbers used which
relate to a bank deposit®
Board of County Commissioners
Old Outstanding Checks
Observation: Old outstanding checks are not removed from the bank recon-
ciliations to make reconciliation procedures more efficient® Procedures
should be implemented to remove such checks on a routine basis.
Recommendation: The payees of these checks should be contacted when possible
to determine why the check has not been cashed® If necessary, the old check
should be voided and a new check issued. If this procedure does not resolve
the problem, the old outstanding checks should be treated as unclaimed funds
and recorded as a liability® Records should be maintained such that there is
a detail of to whom and what amount is owed. In order to relieve the liabi-
lity, you should consult with your attorney as to the proper legal procecures®
-30-
Mr. Danny L. Kohlage
Clerk Ex Officic,
Board of County Commissioners
Page 3
Account Analysis
Observation: Various balance sheet and revenue accounts which are susceptible
to analysis and cross check are reconciled to details or other supporting
documentation on an annual basis.
Recommendation: The appropriate level of management should periodically
review or prepare sufficient workpapers to determine that account balances
are correctly stated on a routine basis, preferably monthly®
Inactive Bank Accounts
Observation: An inactive bank account has not been closed.
Recommendation: All accounts with zero balances should be closed if
management's intent is that they no longer be used.
Regulatory Reporting Re
quirements
We have reviewed the financial report filed with the Department of Banking and
Finance for the year ended September 30, 1985, pursuant to Section 218.36,
Florida Statutes, and have found the amounts reported therein to be in
agreement with the amounts included in the financial statements on which we
have issued our report dated February 21 , 1986.
The Rules of the Auditor General , State of Florida, require that this letter
be filed with the Auditor General along with audited financial statements®
This report is intended solely for the use of management, the Auditor General
the cognizant audit agency and any other federal audit agencies and should not
be used for any other purpose®
We appreciate the cooperation extended to us during the course of our examina-
tion. We would be pleased to discuss these matters further with you at your
convenience.
Sincerely,
V"
Kemp & Rosasco
Certified Public Accountants
-31-
APPENDIX
MANAGEMENT'S RESPONSIBILITY FOR, AND THE OBJECTIVES AND LIMITATIONS OF,
INTERNAL ACCOUNTING CONTROL AND THE DEFINITION OF A MATERIAL WEAKNESS
The following comments concerning management's responsibility for internal
accounting control , the objectives of and the inherent limitations on a system
of internal accounting control , and the definition of a material weakness are
excerpts from Statements on Auditing Standards of the American Institute of
Certified Public Accountants.
Management's Responsibility
Management .. . is responsible for establishing and maintaining a system of
internal accounting control . In fulfilling this responsibility, estimates and
judgements by management are required to assess the expected benefits and
related costs of control procedures®
Objectives
The objectives of a system are to provide management with reasonable, but not
absolute, assurance that assets are safeguarded against loss from unauthorized
use or disposition, and that transactions are executed in accordance with
management's authorization and recorded properly to permit the preparation of
financial statements in accordance with generally accepted accounting
principles®
Limitations
Because of inherent limitations in any system of internal accounting control ,
errors or irregularities nevertheless may occur and not be detected® Also,
projection of any evaluation of the system to future periods is subject to the
risk that procedures may become inadequate because of changes in conditions or
that the degree of compliance with procedures may deteriorate®
Material Weakness
A material weakness (for the auditor's purpose) is a condition in which the
specific control procedures, or the degree of compliance with them, do not ( in
the auditor' s judgement) reduce to a relatively low level the risk that errors
or irregularities in amounts that would be material in relation to the finan-
cial statements being audited may occur and not be detected within a timely
period by employees in the normal course of performing their assigned func-
tions® These criteria may be broader than those that may be appropriate for
evaluating weaknesses in accounting control for management or other purposes®
-32-
KEMP & ROSASCO
Certified Public Accountants
1438 KENNEDY DR.
#12 LUANI PLAZA * P. O. BOX 1529
KEY WEST, FL 33041-1529
ORVIS M. KEMP, C.P.A. (305) 294-2581 MEMBER OF AMERICAN INSTITUTE
WM. O. KEMP, C.P.A. AND FLORIDA INSTITUTE OF
PETER L. ROSASCO, Jr., C.P.A. CERTIFIED PUBLIC ACCOUNTANTS
MARVA E. GREEN, C.P.A.
JOSEPH W. HENDERSON, C.P.A.
February 21 , 1986
Mr® Danny L. Kolhage
Clerk of the Circuit Court
Monroe County, Florida
Key West, Florida 33040
Dear Sir:
We have examined the financial statements of Monroe County, Florida for the
year ended September 30, 1985, and have issued our report thereon dated
February 21 , 1986. As part of our examination, we made a study and evaluation
of the County's system of internal accounting control to the extent we con-
sidered necessary to evaluate the system as required by generally accepted
auditing standards® The purpose of our study and evaluation was to determine
the nature, timing,, and extent of the auditing procedures necessary for
expressing an opinion on the County's financial statements® Our study and
evaluation was more limited than would be necessary to express an opinion on
the system of internal accounting control taken as a whole.
The observations reported herein should be considered in the context of the
responsibility of management for establishing and maintaining a system of
internal accounting control , the objectives of and inherent limitations on
such a system, and the definition of a material weakness for purposes of this
report, which are described in the Appendix to this report.
Our study and evaluation made for the limited purpose described in the first
paragraph would not necessarily disclose all material weaknesses in the
system® Accordingly, we do not express an opinion on the system of internal
accounting control of Monroe County, Florida taken as a whole® However, our
study and evaluation disclosed no condition that we believe is a material
weakness®
Our examination did disclose the following conditions that, although not con-
sidered by us to be material weaknesses, are weaknesses in internal accounting
control for which corrective action night be taken®
-33®
Mr. Danny L. Kolhage
Clerk of the Circuit Court
Page 2
Inactive Bank Accounts
Observation: An inactive bank account has not been closed®
Recommendation: All accounts with zero balances should be closed if
managment's intent is that they no longer be used®
Reconciliation Procedures
Observation: Cash-bond and unclaimed funds bank reconcilations are not
matched against the detail records® This has resulted in transactions not
being posted to the detail ®
Recommendation: As part of the monthly procedures, the bank balance should be
compared to the detail records and any differences should be resolved®
computer Programs
Observation: The daily register summary does not agree with the daily com-
puter summary due to the way voided transactions are read by the computer®
Voided transactions are deleted from the register summary but not from the
computer summary report, which renders them out of balance® In addition, if
the void key is accidentally hit, the next transaction is voided even though
it is a valid transaction®
Recommendation: In order to reduce manual reconciliation procedures, programs
should be modified such that voided transactions are handled consistently for
the register and daily summaries® In addition., the procedure for voiding a
transaction should be made a two step process to safeguard against accidental
voids®
Observation: The computer system is not designed to accept late charges on
traffic receipts® These charges are still recorded manually.
Recommendation: The program should be expanded to include all charges
collected by the Clerk to enhance accountability for all receipts®
-34-
Mr. Danny L. Kolhage
Clerk of the Circuit Court
Page 3
22julato
We have reviewed the financial report filed with the Department of Banking and
Finance for the year ended September 30, 1985, pursuant to Section 218.36,
Florida Statutes, and have found the amounts reported therein to be in
agreement with the amounts included in the financial statements on which we
have issued our report dated February 21 , 1986.
The rules of the Auditor General , State of Florida, require that this letter
be filed with the Auditor General along with audited financial statements®
This report is intended solely for the use of management and the Auditor
General and should not be used for any other purpose®
We appreciate the cooperation extended to us during the course of our examina-
tion. We would be pleased to discuss these matters further with you at your
convenience.
Sincerely,
Kemp 1 Rosasco
Certified Public Accountants
-35-
APPENDIX
MANAGEMENT'S RESPONSIBILITY FOR, AND THE OBJECTIVES AND LIMITATIONS OF,
INTERNAL ACCOUNTING CONTROL AND THE DEFINITION OF A MATERIAL WEAKNESS
The following comments concerning management's responsibility for internal
accounting control , the objectives of and the inherent limitations on a system
of internal accounting control , and the definition of a material weakness are
excerpts from Statements on Auditing Standards of the American Institute of
Certified Public Accountants,
Management's Responsibility
Management . . ® is responsible for establishing and maintaining a system of
internal accounting control ® In fulfilling this responsibility, estimates and
judgements by management are required to assess the expected benefits and
related costs of control procedures®
Objectives
The objectives of a system are to provide management with reasonable, but not
absolute, assurance that assets are safeguarded against loss from unauthorized
use or disposition, and that transactions are executed in accordance with
management's authorization and recorded properly to permit the preparation of
financial statements in accordance with generally accepted accounting
principles®
Limitations
Because of inherent limitations in any system of internal accounting control ,
errors or irregularities nevertheless may occur and not be detected® Also,
projection of any evaluation of the system to future periods is subject to the
risk that procedures may become inadequate because of changes in conditions or
that the degree of compliance with procedures may deteriorate®
Material Weakness
A material weakness (for the auditor's purpose) is a condition in which the
specific control procedures, or the degree of compliance with them, do not ( in
the auditor's judgement) reduce to a relatively low level the risk that errors
or irregularities in amounts that would be material in relation to the finan-
cial statements being audited may occur and not be detected within a timely
period by employees in the normal course of performing their assigned func-
tions. These criteria may be broader than those that may be appropriate for
evaluating weaknesses in accounting control for management or other purposes®
-36-
KEMP �d ROSASCO
Certified Public Accountants
1438 KENNEDY D .
#12 LUANI PLAZA * P. O. BOX 1529
KEY WEST, FL 33041-1529
ORVIS M. KEMP, C.P.A. (305) 294-2581 MEMBER OF AMERICAN INSTITUTE
WM. 0. KEMP, C.P.A. AND FLORIDA INSTITUTE OF
PETER L. ROSASCO, Jr., C.P.A. CERTIFIED PUBLIC ACCOUNTANTS
MA VA E. GREEN, C.P.A.
JOSEPH W. HENDERSON, C.P.A.
February 21 , 1986
Mr. Harry F. Knight
Tax Collector
Monroe County, Florida
Key West, Florida 33040
Dear Sir:
We have examined the financial statements of Monroe County, Florida for the
year ended September 30, 1985, and have issued our report thereon dated
February 21 , 1986. As part of our examination,
we made a study and evaluation
of the County's system of internal accounting control to the extent we con-
sidered necessary to evaluate the system as required by generally accepted
auditing standards. The purpose of our study and evaluation was to determine
the nature, timing, and extent of the auditing procedures necessary for
expressing an opinion on the County's financial statements. Our study and
evaluation was more limited than would be necessary to express an opinion on
the system of internal accounting control taken as a whole.
The observations reported herein should be considered in the context of the
responsibility of management for establishing and maintaining a system of
internal accounting control , the objectives of and inherent limitations on
such a system, and the definition of a material weakness for purposes of this
report, which are described in the Appendix to this report.
Our study and evaluation made for the limited purpose described in the first
paragraph would not necessarily disclose all material weaknesses in the
system. Accordingly, we do not express an opinion on the system of internal
accounting control of Monroe County, Florida taken as a whole. However, our
study and evaluation disclosed no condition that we believe is a material
weakness.
Our examination did disclose the following conditions that, although not con-
sidered by us to be material weaknesses, are weaknesses in internal accounting
control for which corrective action might be taken.
-37-
Mr. Harry F. Knight
Tax Collector
Page 2
Old Outstanding Checks
Observation: Old outstanding checks are not removed from the bank recon-
ciliations to make reconciliation procedures more efficient. Procedures
should be implemented to remove such checks on a routine basis.
Recommendation: The payees of these checks should be contacted when possible
to determine why the check has not been cashed. If necessary, the old check
should be voided and a new check issued. If this procedure does not resolve
the problem, the old outstanding checks should be treated as unclaimed funds
and recorded as a liability. Records should be maintained such that there is
a detail of to whom and what amount is owed. In order to relieve the liabi-
lity, you should consult with your attorney as to the proper legal procedures.
Regulatory Reporting Requirements
We have reviewed the financial report filed with the Department of Banking and
Finance for the year ended September 30, 1985, pursuant to Section 218.36,
Florida Statutes, and have found the amounts reported therein to be in
agreement with the amounts included in the financial statements on which we
have issued our report dated February 21 , 1986.
The rules of the Auditor General , State of Florida, require that this letter
be filed with the Auditor General along with audited financial statements.
This report is intended solely for the use of management and the Auditor
General and should not be used for any other purpose.
We appreciate the cooperation extended to us during the course of our examina-
tion. We would be pleased to discuss these matters further with you at your
convenience.
Sincerely,
Kemp & Rosasco
Certified Public Accountants
-38-
APPENDIX
MANAGEMENT'S RESPONSIBILITY FOR, AND THE OBJECTIVES AND LIMITATIONS OF,
INTERNAL ACCOUNTING CONTROL AND THE DEFINITION OF A MATERIAL WEAKNESS
The following comments concerning management's responsibility for internal
accounting control , the objectives of and the inherent limitations on a system
of internal accounting control , and the definition of a material weakness are
excerpts from Statements on Auditing Standards of the American Institute of
Certified Public Accountants.
Management's Responsibility
Management . . . is responsible for establishing and maintaining a system of
internal accounting control . In fulfilling this responsibility, estimates and
judgements by management are required to assess the expected benefits and
related costs of control procedures.
Objectives
The objectives of a system are to provide management with reasonable, but not
absolute,, assurance that assets are safeguarded against loss from unauthorized
use or disposition, and that transactions are executed in accordance with
management's authorization and recorded properly to permit the preparation of
financial statements in accordance with generally accepted accounting
principles.
Limitations
Because of inherent limitations In any system of internal accounting control ,
errors or irregularities nevertheless may occur and not be detected. Also,
projection of any evaluation of the system to future periods is subject to the
risk that procedures may become inadequate because of changes in conditions or
that the degree of compliance with procedures may deteriorate.
Material Weakness
A material weakness (for the auditor's purpose) is a condition in which the
specific control procedures, or the degree of compliance with them, do not ( in
the auditor's judgement) reduce to a relatively low level the risk that errors
or irregularities in amounts that would be material in relation to the finan-
cial statements being audited may occur and not be detected within a timely
period by employees in the normal course of performing their assigned func-
tions. These criteria may be broader than those that may be appropriate for
evaluating weaknesses in accounting control for management or other purposes.
-39-
KEMP FJ ROSASCO
Certified Public Accountants
1438 KENNEDY D .
#12 LUANI PLAZA * P. 0. BOX 1529
KEY WEST, FL 33041-1529
ORVIS M. KEMP, C.P.A. (305) 294-2581 MEMBER OF AMERICAN INSTITUTE
WM. 0. KEMP, C.P.A. AND FLORIDA INSTITUTE OF
PETER L. ROSASCO, Jr., C.P.A. CERTIFIED PUBLIC ACCOUNTANTS
MARVA E. GREEN, C.P.A.
JOSEPH W. HENDERSON, C.P.A.
February 21 , 1986
Honorable William A. Freeman, Jr.
Sheriff
Monroe County, Florida
Key West, Florida 33040
Dear Sir:
We have examined the financial statements of Monroe County, Florida for the
year ended September 30, 1985, and have issued our report thereon dated
February 21, 1986. As part of our examination, we made a study and evaluation
of the County's system of internal accounting control to the extent we con-
sidered necessary to evaluate the system as required by generally accepted
auditing standards. The purpose of our study and evaluation was to determine
the nature, timing, and extent of the auditing procedures necessary for
expressing an opinion on the County's financial statements. Our study and
evaluation was more limited than would be necessary to express an opinion on
the system of internal accounting control taken as a whole.
The observations reported herein should be considered in the context of the
responsibility of management for establishing and maintaining a system of
internal accounting control , the objectives of and inherent limitations on
such a system, and the definition of a material weakness for purposes of this
report, which are described in the Appendix to this report.
Our study and evaluation made for the limited purpose described in the first
paragraph would not necessarily disclose all material weaknesses in the
system. Accordingly, we do not express an opinion on the system of internal
accounting control of Monroe County, Florida taken as a whole. However, our
study and evaluation disclosed no condition that we believe is a material
weakness.
Our examination did disclose the following conditions that, although not con-
sidered by us to be material weaknesses, are weaknesses in internal accounting
control for which corrective action might be taken.
-40-
Honorable William A. Freeman, Jr.
Sheriff
Page 2
Civil Process Receipts
Observation: Activity in this area has increased such that additional
controls should be implemented and procedures mechanized to increase the speed
and accuracy of the recording function.
Recommendation: Cash registers should be installed® Receipts should be
reconciled to the bank deposit on a daily basis®
Inmate Commissar
Observation: Evidence of receipt of purchases by Sheriff employees was not
consistently documented.
Recommendation: All invoices for goods should be signed by the employee at
the time of delivery®
Observation: The detail of inmate accounts does not agree to the total funds
available®
Recommendation: The appropriate level of management should be responsible for
reviewing the detail and resolving any differences®
Interest Income
Observation: Interest earned on Sheriff funds is not recorded in the books of
account.
Recommendation: All funds available to or earned by the Sheriff should be
appropriately recorded.
Regulatory RepoELI n Requirements
I�L!�eme�_
We have reviewed the financial report filed with the Department of Banking and
Finance for the year ended September 30, 1985, pursuant to Section 116.03,
Florida Statutes, and have found the amounts reported therein to be in
agreement with the amounts included in the financial statements on which we
have issued our report dated February 21 , 1986.
-41-
Honorable William A. Freeman, Jr.
Sheriff
Page 3
The rules of the Auditor General , State of Florida, require that this letter
be filed with the Auditor General along with audited financial statements.
This report is intended solely for the use of management and the Auditor
General and should not be used for any other purpose.
We appreciate the cooperation extended to us during the course of our examina-
tion. We would be pleased to discuss these matters further with you at your
convenience.
Sincerely,
VI
Kemp & Rosasco
Certified Public Accountants
-42-
APPENDIX
MANAGEMENT'S RESPONSIBILITY FOR, AND THE OBJECTIVES AND LIMITATIONS OF,
INTERNAL ACCOUNTING CONTROL AND THE DEFINITION OF A MATERIAL WEAKNESS
The following comments concerning management's responsibility for internal
accounting control , the objectives of and the inherent limitations on a system
of internal accounting control , and the definition of a material weakness are
excerpts from Statements on Auditing Standards of the American Institute of
Certified Public Accountants®
Management's Responsibility
Management m ®® is responsible for establishing and maintaining a system of
internal accounting control® In fulfilling this responsibility, estimates and
judgements by management are required to assess the expected benefits and
related costs of control procedures®
Objectives
The objectives of a system are to provide management with reasonable, but not
absolute, assurance that assets are safeguarded against loss from unauthorized
use or disposition, and that transactions are executed in accordance with
management's authorization and recorded properly to permit the preparation of
financial statements in accordance with generally accepted accounting
principles®
Limitations
Because of inherent limitations in any system of internal accounting control ,
errors or irregularities nevertheless may occur and not be detected® Also,
projection of any evaluation of the system to future periods is subject to the
risk that procedures may become inadequate because of changes in conditions or
that the degree of compliance with procedures may deteriorate®
Material Weakness
A material weakness (for the auditor's purpose) is a condition in which the
specific control procedures, or the degree of compliance with them, do not ( in
the auditor's judgement) reduce to a relatively low level the risk that errors
or irregularities in amounts that would be material in relation to the finan-
cial statements being audited may occur and not be detected within a timely
period by employees in the normal course of performing their assigned func-
tions. These criteria may be broader than those that may be appropriate for
evaluating weaknesses in accounting control for management or other purposes®
- 3®
KEMP �1 ROSASCO
Certifkd Pxb//r Awnnxtamts
1438 KFNNEDv DR.
#12 LUAN| PLAZA w P. 0. BOX 1529
KEY vVBJ' FL 33041-1529
O0V|3kn. uEN^P' [.P.A. (305) 294-2581 MEMBER OF AMER|[AN INSTITUTE
vVM. 0. KBMP, C,p& AND FLORIDA INSTITUTE Of
PETER L. ROSAS[O' Jr., C.P.A. CERTIFIED PUBLIC ACCOUNTANTS
&A40VA E. GREEN' C.P.A.
JOSEp* W. *ENDERsOw' C.P.A.
February 21 , 1486
Mr. Ervin A. Higgs
Property Appraiser
Monroe County, Florida
Key West, Florida 33040
Dear Sir:
We have examined the financial statements of Monroe County, Florida for the
year ended September 30» 1485» and have issued our report thereon doted
February 21 » 1486° As part of our examinotiun» we made o study and evaluation
of the Counfyvs system of internal accounting control to the extent we con-
sidered necessary to evaluate the system as required by generally accepted
auditing standards. The purpose of our study and evaluation was to determine
the nature, timing, and extent of the auditing procedures necessary for
expressing on opinion on the County's financial statements. Our study and
evaluation was more limited than would be necessary to express an opinion on
the system of internal accounting control token as a whole.
The observations reported herein should be considered in the context of the
responsibility of management for establishing and maintaining o system of
internal accounting control , the objectives of and inherent limitations on
such a system, and the definition of a material weakness for purposes of this
report, which are described in the Appendix to this report.
Our study and evaluation made for the limited purpose described in the first
paragraph would not necessarily disclose all material weaknesses in the
system. Accordingly, we do not express an opinion on the system of internal
accounting control of Monroe County, Florida taken as a whole. However, our
study and evaluation disclosed no condition that we believe is a material
weakness.
Our examination did disclose the following conditions that, although not con-
sidered by us to be material weaknesses, are weaknesses in internal accounting
control for which corrective action might be taken.
-44-
Mr. Ervin A. Higgs
Property Appraiser
Page 2
Observation: We noted delays in the deposit of money received, ranging from
four to fifteen days.
Recommendation: Deposits should be made in a timely manner to prevent loss.
Aproval of Time Cards
Observation: Supervisors are required to review and approve employee time
cards. We found no evidence that this procedure is performed.
Recommendation: Supervisors should initial or sign time cards to document
their review and approval .
Purchase Orders
Observation: The system requires that purchase orders be completed and
approved for purchases that are nVnrVut|ne. This policy is not consistently
followed.
Recommendation: This policy should be consistently enforced to maintain mana-
gement control over expenditures.
Computer income
Observation: Fees for the use of the property appraiser's computer have pre-
viously been netted against the cost of the related computer expenses. The
amount of the fees has become large enough that they should be recorded
separately to provide more informative disclosure of activities.
Recommendation: These fees should be budgeted and recorded as income.
Correspondingly, the amount of computer expenses budgeted and recorded should
be the amount expended for this purpose.
We have reviewed the financial report filed with the Department of Banking and
Finance for the year ended September 30, 1985r pursuant to Section 218~36,
Florida Statutes,, and have found the amounts reported therein to be in
agreement with the amounts included in the financial statements on which we
have issued our report dated February 21 , 1986~
-45-
Mr. Ervin A. Higgs
Property Appraiser
Page 3
Regulatory Departing Requirements (Continued)
The rules of the Auditor General , State of Florida, require that this letter
be filed with the Auditor General along with audited financial statements.
This report is intended solely for the use of management and the Auditor
General and should not be used for any other purpose.
We appreciate the cooperation extended to us during the course of our examina-
tion® We would be pleased to discuss these matters further with you at your
convenience.
Sincerely,
Kemp & Rosasco
Certified Public Accountants
-46-
APPENDIX
MANAGEMENT'S RESPONSIBILITY FOR, AND THE OBJECTIVES AND LIMITATIONS OF,
INTERNAL ACCOUNTING CONTROL AND THE DEFINITION OF A MATERIAL WEAKNESS
The following comments concerning management's responsibility for internal
accounting control , the objectives of and the inherent limitations on a system
of internal accounting control , and the definition of a material weakness are
excerpts from Statements on Auditing Standards of the American Institute of
Certified Public Accountants®
Management's Responsibility
Management s ® ® is responsible for establishing and maintaining a system of
internal accounting control . In fulfilling this responsibility, estimates and
judgements by management are required to assess the expected benefits and
related costs of control procedures®
Objectives
The objectives of a system are to provide management with reasonable, but not
absolute, assurance that assets are safeguarded against loss from unauthorized
use or disposition, and that transactions are executed in accordance with
management's authorization and recorded properly to permit the preparation of
financial statements in accordance with generally accepted accounting
principles®
Limitations
Because of inherent limitations in any system of internal accounting control ,
errors or irregularities nevertheless may occur and not be detected. Also,
projection of any evaluation of the system to future periods is subject to the
risk that procedures may become inadequate because of changes in conditions or
that the degree of compliance with procedures may deteriorate®
Material Weakness
A material weakness (for the auditor's purpose) Is a condition in which the
specific control procedures, or the degree of compliance with them, do not ( in
the auditor's judgement) reduce to a relatively low level the risk that errors
or irregularities in amounts that would be material in relation to the finan-
cial statements being audited may occur and not be detected within a timely
period by employees in the normal course of performing their assigned func-
tions® These criteria may be broader than those that may be appropriate for
evaluating weaknesses in accounting control for management or other purposes®
m7®
KEMP 8 ROSASCO
Certified Public A(b(,ountants
1438 KENNEDY DR.
#12 LUANI PLAZA * P. O. BOX 1529
KEY WEST, FL 33041-1529
ORVIS M. KEMP, C.P.A. (305) 294-2561 MEMBER OF AMERICAN INSTITUTE
WM. O. EMP, C.P.A. AND FLORIDA INSTITUTE OF
PETER L. RCSASCO, Jr., C.P.A. CERTIFIED PUBLIC ACCOUNTANTS
MARVA E. GREEN, C.P.A.
JOSEPH W. HENDERSON, C.P.A.
February 21 , 1986
Mr. Robert Brown
Supervisor of Elections
Monroe County, Florida
Key West, Florida 33040
Dear Sir:
We have examined the financial statements of Monroe County, Florida for the
year ended September 30, 1985, and have issued our report thereon dated
February 21 , 1986. As part of our examination,
we made a study and evaluation
of the County's system of internal accounting control to the extent we con-
sidered necessary to evaluate the system as required by generally accepted
auditing standards® The purpose of our study and evaluation was to determine
the nature, timing, and extent of the auditing procedures necessary for
expressing an opinion on the County's financial statements. Our study and
evaluation was more limited than would be necessary to express an opinion on
the system of internal accounting control taken as a whole®
The observations reported herein should be considered in the context of the
responsibility of management for establishing and maintaining a system of
internal accounting control , the objectives of and inherent limitations on
such a system, and the definition of a material weakness for purposes of this
report, which are described in the Appendix to this report®
Our study and evaluation made for the limited purpose described in the first
paragraph would not necessarily disclose all material weaknesses in the
system® Accordingly, we do not express an opinion on the system of internal
accounting control of Monroe County, Florida taken as a whole® However, our
study and evaluation disclosed no condition that we believe is a material
weakness.
-48®
Mr~ Robert Brown
Supervisor of Elections
Page 2
We have reviewed the financial report filed with the Department of Banking and
Finance for the year ended September 30, 1985, pursuant to Section 218°36,
Florida Statutes, and have found the amounts reported therein to be in
agreement with the amounts included /n the financial statements on which we
have issued our report dated February 21 , 1986.
The rules of the Auditor General , State of Florida, require that this letter
be filed with the Auditor General along with audited financial statements.
This report is intended solely for the use of management and the Auditor
General and should not be used for any other purpose.
* * * * * *
We appreciate the cooperation extended to us during the course of our examina-
tion. We would ba pleased to discuss these matters further with you of your
convenience.
Sincerely,
. /
Kemp & Rosasoo
Certified Public Accountants
-49-
APPENDIX
MANAGEMENT' S RESPONSIBILITY FOR, AND THE OBJECTIVES AND LIMITATIONS OF,
INTERNAL ACCOUNTING CONTROL AND THE DEFINITION OF A MATERIAL WEAKNESS
The following comments concerning management's responsibility for internal
accounting control , the objectives of and the inherent limitations on a system
of internal accounting control , and the definition of a material weakness are
excerpts from Statements on Auditing Standards of the American Institute of
Certified Public Accountants.
Management' s Responsibility
Management °. ° is responsible for establishing and maintaining a system of
internal accounting control . In fulfilling this responsibility, estimates and
judgements by management are required to assess the expected benefits and
related costs of control procedures.
Objectives
The objectives of e system are to provide management with reasonable, but not
absolute, assurance that assets are safeguarded against loss from unauthorized
use or disposition, and that transactions are executed in accordance with
management' s authorization and recorded properly to permit the preparation of
financial statements in accordance with generally accepted accounting
principles.
Limitations
Because of inherent limitations in any system of internal accounting control ,
errors or irregularities nevertheless may occur and not be defected~ Also,
projection of any evaluation of the system to future periods is subject to the
risk that procedures may become inadequate because of changes in conditions or
that the degree of compliance with procedures may deteriorate.
Material Weakness
A material weakness (for the auditor' s purpose) is a condition in which the
specific control procedures, or the degree of compliance with them, do not ( in
the auditor's judgement) reduce to a relatively (ow level the risk that errors
or irregularities in amounts that would be material in relation to the finan-
cial statements being audited may occur and not be detected within o timely
period by employees in the normal course of performing their assigned func-
tions. These criteria may be broader than those that may be appropriate for
evaluating weaknesses in accounting control for management or other purposes"
-50-
KEMP 8 ROSASCO
('ertified Public Ac(onularits
1438 KENNEDY DR.
#12 LUANI PLAZA e P. O. BOX 1529
KEY WEST, FL 33041 1529
ORVIS M. KEMP, C.P.A. (305) 294-2581 MEMBER OF AMERICAN INSTITUTE
WM, O. KEMP, C.P.A. AND FLORIDA INSTITUTE OF
PETER L. ROSASCO, Jr., C.P.A. CERTIFIED PUBLIC ACCOUNTANTS
MARVA E. GREEN, C.P.A.
JOSEPH W. HENDERSON, C.P-A. February 21, 1986
Mr. Danny L. Kolhage
Clerk Ex Officio
Board of County Commissioners
Monroe County, Florida
Key West, Florida 33040
Dear Sir:
We have examined the combined financial statements of Monroe County, Florida
as of and for the year ended September 30, 1985, and have issued our report
thereon dated February 21 , 1986. Our examination, was made in accordance with
generally accepted auditing standards; the provisions of S-tandards for Audit
of Governmental Organizations, Programs, Activities and Functions, promulgated
by the U.S. comptroller general , which pertain to financial and compliance
audits; the Office of Management and Budget's (OMB) Compliance Supplement for
.S_�Ie Audits of State and Local Governments (the approved compliance
supplement) ; and the Single Audit Act of 1984 and the Guidelines for
Financial and Compliance Audits of Federally Assisted Programs (guidelines) ;
and, accordingly, included such tests of the accounting records and such other
auditing procedures as we considered necessary in the circumstances®
The Single Audit Act requires that the examination include a determination of
whether the federal financial reports ( including financial status reports,
cash reports and claims for advances and reimbursements) prepared by Monroe
County, Florida, contain accurate and reliable financial data® We have been
informed that OMB interprets the phrase accurate and reliable financial data
t
r7o mean that the federal financial reports present—the underlying financial
data of the grants within limits that are reasonable and practicable to attain
under the circumstances.
In our opinion, Monroe County, Florida, complied with the material terms and
conditions of its federal grants, contracts and agreements, and the tested
federal financial reports present the underlying financial data of the grants
within the limits described in the preceding paragraph. Further, nothing came
to our attention, to indicate that t4onroe County, Florida, had not complied
with the compliance matters referred to above. Additionally, nothing came to
our attention to indicate that the federal financial reports do not present
the underlying financial data of the grants within the limits—described in the
preceding paragraph.
-51-
r. Danny L. Kolhage
Clerk Ex Officlo
Board of County Commissioners
Page 2
This report is intended solely for the use of Monroe County, Florida, and the
cognizant audit agency and other federal audit agencies and should not be used
for any other purpose.
Kemp & Rosasco
Certified Public Accountants
- -