Fiscal Year 2022 Monroe County, Florida Sheriff
Financial Statements, Required Supplementary
Information and other Supplementary Reports
As of and for the Year Ended September 30,
2022 and Reports of Independent Auditor
Contents
REPORT OF INDEPENDENT AUDITOR ................................................................................................ 1-3
FINANCIAL STATEMENTS
Balance Sheet—Governmental Funds ................................................................................................................4
Statement of Revenues, Expenditures and Changes in Fund Balances—
GovernmentalFunds .........................................................................................................................................5
Statement of Fiduciary Net Position —Custodial Funds.......................................................................................6
Statement of Changes in Fiduciary Net Position —Custodial Funds ...................................................................7
Notes to Financial Statements ........................................................................................................................8-20
REQUIRED SUPPLEMENTARY INFORMATION Unaudited)
Schedule of Revenues, Expenditures and Changes in Fund Balances—
Budget and Actual—General Fund .................................................................................................................21
Schedule of Revenues, Expenditures and Changes in Fund Balances—
Budget and Actual—Major Special Revenue Funds..................................................................................22-26
OTHER SUPPLEMENTARY INFORMATION
Combining Statement of General, Trauma Star, and Radio
Communications Funds by Service Area.........................................................................................................27
Non-Major Special Revenue Funds Description ................................................................................................28
Combining Balance Sheet— Non-Major Governmental Funds—Special
RevenueFunds...........................................................................................................................................29-31
Combining Statement of Revenues, Expenditures and Changes in Fund
Balances— Non-Major Governmental Funds—Special Revenue Funds...................................................32-34
Schedule of Revenues, Expenditures and Changes in Fund Balances—
Budget and Actual—Non-Major Special Revenue Funds..........................................................................35-42
CustodialFunds Description...............................................................................................................................43
Combining Statement of Fiduciary Net Position —Custodial Funds ..................................................................44
Combining Statement of Changes in Fiduciary Net Position—Custodial Funds...............................................45
SUPPLEMENTARY REPORTS
Report of Independent Auditor on Internal Control over Financial Reporting
and on Compliance and Other Matters Based on an Audit of Financial
Statements Performed in Accordance with Government Auditing
Standards....................................................................................................................................................46-47
Independent Auditor's Management Letter...................................................................................................48-49
Report of Independent Accountant on Compliance with Local Government
InvestmentPolicies..........................................................................................................................................50
FINANCIAL STATEMENTS
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RSM
Independent Auditor's Report
To the Honorable Richard A. Ramsay,
Sheriff of Monroe County, Florida
Report on the Audit of the Financial Statements
Opinions
We have audited the financial statements of each major fund and the aggregate remaining fund
information of the Monroe County, Florida Sheriff(the Sheriff), as of and for the year ended
September 30, 2022, and the related notes to the financial statements, which collectively comprise the
Sheriff's financial statements as listed in the table of contents.
In our opinion, the accompanying financial statements referred to above present fairly, in all material
respects, the respective financial position of each major fund and the aggregate remaining fund
information of the Sheriff as of September 30, 2022, and the respective changes in financial position for
the year then ended in accordance with accounting principles generally accepted in the United States of
America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America (GAAS) and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States (Government Auditing Standards). Our
responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit
of the Financial Statements section of our report. We are required to be independent of the Sheriff and to
meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our
audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our audit opinions.
Emphasis of Matter
Basis of Presentation
As discussed in Note 1, the accompanying financial statements of the Sheriff were prepared for the
purpose of complying with Section 218.39, Florida Statutes, and Section 10.557(3), Rules of the Auditor
General for Local Government Entity Audits. They do not purport to, and do not, present fairly the
financial position of Monroe County, Florida as of September 30, 2022, and the changes in its financial
position for the year then ended in accordance with accounting principles generally accepted in the
United States of America. Our opinions are not modified with respect to this matter.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in
accordance with accounting principles generally accepted in the United States of America, and for 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.
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Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance
and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government
Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a
material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve
collusion, forgery, intentional omissions, misrepresentations or the override of internal control.
Misstatements are considered material if there is a substantial likelihood that, individually or in the
aggregate, they would influence the judgment made by a reasonable user based on the financial
statements.
In performing an audit in accordance with GAAS and Government Auditing Standards, we
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, and design and perform audit procedures responsive to those risks. Such procedures
include examining, on a test basis, evidence regarding the amounts and disclosures in the financial
statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Sheriff's internal control. Accordingly, no such opinion is expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
financial statements.
We are required to communicate with those charged with governance regarding, among other matters,
the planned scope and timing of the audit, significant audit findings, and certain internal control-related
matters that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that budgetary
comparison schedules be presented to supplement the financial statements. Such information, although
not a part of the financial statements, is required by the Governmental Accounting Standards Board who
considers it to be an essential part of financial reporting for placing the financial statements in an
appropriate operational, economic, or historical context. We have applied certain limited procedures to
the required supplementary information in accordance with auditing standards generally accepted in the
United States of America, which consisted of inquiries of management about the methods of preparing
the information and comparing the information for consistency with management's responses to our
inquiries, the financial statements and other knowledge we obtained during our audit of the financial
statements. We do not express an opinion or provide any assurance on the information because the
limited procedures do not provide us with sufficient evidence to express an opinion or provide any
assurance.
2
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the Sheriff's basic financial statements. The other supplementary information, as listed in the
table of contents, is presented for purposes of additional analysis and is not a required part of the
financial statements. The other supplementary information is the responsibility of management and was
derived from and relates directly to the underlying accounting and other records used to prepare the
financial statements. Such information has been subjected to the auditing procedures applied in the audit
of the financial statements and certain additional procedures, including comparing and reconciling such
information directly to the underlying accounting and other records used to prepare the financial
statements or to the financial statements themselves, and other additional procedures in accordance with
auditing standards generally accepted in the United States of America. In our opinion, the other
supplementary information is fairly stated, in all material respects, in relation to the financial statements as
a whole.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated February 27,
2023, on our consideration of the Sheriff's internal control over financial reporting and our tests of its
compliance with certain provisions of laws, regulations, contracts and grant agreements, and other
matters. The purpose of that report is solely to describe the scope of our testing of internal control over
financial reporting and compliance, and the results of that testing, and not to provide an opinion on the
effectiveness of the Sheriff's internal control over financial reporting or on compliance. That report is an
integral part of an audit performed in accordance with Government Auditing Standards in considering
the Sheriff's internal control over financial reporting and compliance.
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Fort Lauderdale, Florida
February 27, 2023
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Monroe County, Florida Sheriff
Statement of Fiduciary Net Position
Custodial Funds
September 30, 2022
Total
Custodial
Assets
Cash and cash equivalents $ 1,562,590
Due from others 4,814
Total assets $ 1,567,404
Liabilities
Accounts payable $ 22,110
Total liabilities $ 22,110
Net position:
Restricted for:
Individuals, organizations and other governments $ 1,545,294
Total Net Position $ 1,545,294
The accompanying notes to the financial statements are an integral part of this statement.
6
Monroe County, Florida Sheriff
Statement of Changes in Fiduciary Net Position
Custodial Funds
September 30, 2022
Total
Custodial
Additions:
Payments made to bond accounts $ 1,348,144
Payments made to inmate accounts 1,197,325
Total additions 2,545,469
Deductions:
Payments to depositors $ 1,499,835
Payments of inmate services 971,254
Payments of inmate release funds 246,946
Total deductions $ 2,718,035
Net change in fiduciary net postion $ (172,566)
Net Position, beginning October 1 1,717,860
Net Position, ending September 30 $ 1,545,294
The accompanying notes to the financial statements are an integral part of this statement.
7
Monroe County, Florida Sheriff
Notes to Financial Statements
Note 1. Nature of Operations and Significant Accounting Policies
Financial Reporting Entity — The Monroe County, Florida Sheriff (the Sheriff) is a separately elected
county official established pursuant to the Constitution of the State of Florida. The Sheriffs financial
statements do not purport to reflect the financial position or the results of operations of Monroe County,
Florida (the County) taken as a whole. The financial statements of the Sheriff have been prepared in
accordance with accounting principles and reporting guidelines established by the Governmental
Accounting Standards Board (GASB).
Entity status for financial reporting purposes is governed by GASB Statement 14, as amended. Although
the Sheriff's Office is operationally autonomous from the County, it does not hold sufficient corporate
powers of its own to be considered a legally separate entity for financial reporting purposes. Therefore,
under GASB guidelines, the Sheriff is reported as a part of the primary government of Monroe County,
Florida. The financial activities of the Sheriff, as a constitutional officer, are included in the Monroe
County, Florida Annual Comprehensive Financial Report.
Measurement Focus, Basis of Accounting, and Financial Statement Presentation —The Sheriffs financial
statements are prepared for the purpose of complying with Section 218.39(2), Florida Statutes, and
Chapter 10.550, Rules of the Auditor General for Local Government Entity Audits (the "Rules"), which
requires the Sheriff to only present special purpose fund financial statements.
The General Fund and Special Revenue Funds are governmental funds that use the current financial
resources measurement focus and the modified accrual basis of accounting. Revenues are recognized
when measurable and available. Revenues are considered to be available when they are collectible
within the current period or soon enough thereafter to pay liabilities of the current period. For this
purpose, the Sheriff considers revenues to be available if they are collected within 60 days of the end of
the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual
accounting. However, debt service expenditures as well as expenditures related to compensated
absences, pension and other post-employment benefits and claims and judgments, are recorded only
when payment is due.
The accrual basis of accounting is used by the custodial funds. Under this basis, revenues/additions are
recorded when earned and expenses/deductions are recorded at the time liabilities are incurred.
Description of Funds — The Sheriff reports the General Fund and Special Revenue Funds as
governmental funds and Custodial Funds as a fiduciary fund type. The General Fund is used to account
for all revenues and expenditures applicable to the general operations of the Sheriff. The Special
Revenue Funds account for the proceeds and uses of specific revenue sources that are legally restricted
or committed to expenditures for a specific purpose. Custodial Funds are used to account for assets held
by the Sheriff as agent for individuals, organizations or other governments for bonds, inmate funds, civil
trusts and evidence and seized currency.
The Sheriff reports the General Fund and the following five Special Revenue Funds as major funds:
Trauma Star, Radio Communications, High Intensity Drug Trafficking Area Grants (HIDTA), Grants and
the Shared Asset Forfeiture Fund. The Trauma Star fund accounts for the revenues and expenditures
related to the function of air and ambulance transports and is a vital component of the Monroe County's
Sheriff's office life-saving program. The Radio Communications fund accounts for the revenues and
expenditures related to radio communication functions. The Radio communications fund is county-wide
and includes the majority of federal, state and local entities. The HIDTA Grants Fund accounts for the
revenues and expenditures related to the Office of National Drug Control Policy (ONDCP) grants. The
Grants fund accounts for receipts and disbursements related to other various local, state and federal
grants. The Shared Asset Forfeiture Fund accumulates stipulated transfers from the Federal Forfeiture
Fund and its investment income is used to fund awards to non-profit organizations, as determined by an
advisory board.
8
Monroe County, Florida Sheriff
Notes to Financial Statements
Note 1. Nature of Operations and Significant Accounting Policies (Continued)
Transfers—The Sheriff transfers funds to administer certain Special Revenue Fund programs. In addition,
the extent to which General Fund, Trauma Star, Radio Communications, and the State Forfeiture Fund
revenues exceed expenditures is reflected as transfers out and as liabilities due to the Board of County
Commissioners.
Budgetary Requirements — General fund expenditures are controlled by appropriations in accordance
with the budget requirements set forth in the Florida Statutes. The budget is prepared on a basis
consistent with the Florida Department of Revenue rules. Budgets are administered for all funds and are
prepared on a basis consistent with accounting principles generally accepted in the United States of
America. The legal level of budgetary control is at the fund level by functional category.
Fund Balance Presentation — In accordance with GASB Statement 54, the fund balances of the
governmental funds are classified as restricted or committed. This classification includes amounts that
can be spent only for specific purposes because of constitutional provisions or enabling legislation or
because of constraints that are externally imposed by creditors, grantors, contributors or the laws or
regulations of other governments.
Non-Spendable Fund Balance — Includes amounts that cannot be sent because they are either
not in spendable form, or for legal or contractual reasons, must be kept intact. This classification
includes inventory.
Spendable Fund Balance—
Restricted — Includes amounts that are constrained for specific purposes which are
externally imposed by providers (such as grantors or creditors)or enabling legislation.
Committed — Includes amounts that are constrained for specific purposes that are
internally imposed by the highest level of decision-making authority, which in this case is
the Sheriff.
Assigned— Includes amounts that are intended to be used for specific purposes that are
not restricted or committed. Assignments can be made at the direction of the Sheriff.
Unassigned— Represents fund balance that has not been assigned to other funds, and
that has not been restricted, committed or assigned to specific purposes within the
general fund. Unassigned fund balance also includes any deficit fund balance of other
governmental funds.
Cash and Cash Equivalents and Investments— Highly liquid investments with maturities of three months
or less when purchased are considered cash equivalents. Included are investments in the State Board of
Administration Local Surplus Funds Investment Pool Trust Fund (SBA), which consists of the Florida
PRIME investment pool, a qualifying fund that operates essentially as a money market fund, and
municipal bonds.
The Sheriff categorizes its applicable fair value measurement within the fair value hierarchy established in
accordance with GASB Statement No. 72 Fair Value Measurements and Application. The hierarchy is
based on the valuation inputs used to measure the fair value of the asset. Level 1 inputs are quoted
prices in active markets for identical assets; Level 2 inputs are significant other observable inputs; Level 3
inputs are significant unobservable inputs. Types and amounts of investments held at fiscal year-end are
described in a subsequent note. Normally excluded from GASB Statement No. 72 hierarchy reporting are
cash equivalent investments. certificates of deposit, money market funds, commercial paper and time
deposit-like foreign bonds.
9
Monroe County, Florida Sheriff
Notes to Financial Statements
Note 1. Nature of Operations and Significant Accounting Policies (Continued)
State statutes and local ordinances authorize investments in obligations of the U.S. Government, its
agencies and instrumentalities, repurchase agreements, interest-bearing time deposits, savings accounts,
the Florida Prime Investment Pool (formerly known as the Local Government Surplus funds Trust Fund
administered by the State Board of Administration), the Florida Local Government Investment Trust,
collateralized mortgage obligations, certain corporate securities, instruments backed by the full faith and
credit of the State of Israel, bankers acceptances and money market mutual funds.
Receivables — All receivables are shown net of an allowance for uncollectibles. Historical collection
experience is used to estimate the accounts receivable allowance. The complete balance in the Inmate
Fund is deemed uncollectible in the amount of$152,552 at September 30, 2022.
Capital Assets — Capital assets are recorded as expenditures in the General Fund or the Special
Revenue Funds at the time of purchase and are capitalized at historical cost in the government-wide
financial statements of the County. Gifts or contributions and seized property are recorded in the
governmental activities opinion unit in the government-wide financial statements of the County at their at
acquisition value at the time received. In addition, the Board of County Commissioners provides at no
cost the office space and certain other expenditure items used in the Sheriffs operations.
It is the policy of the Sheriff to capitalize all assets costing more than $1,000 with an estimated useful life
of two or more years. The cost of normal maintenance and repairs that do not add to the value of the
asset or materially extend asset lives are not capitalized.
Capital assets are depreciated using the straight-line method over the following estimated useful lives:
Years
Buildings and infrastructure 10-50
Machinery and equipment 5-10
Compensated Absences—The Sheriff permits employees to accumulate earned but unused vacation and
sick pay benefits. The Sheriff is not legally required to and does not accumulate expendable available
financial resources to liquidate this obligation. The obligation is accrued in the government-wide financial
statements of the County.
Leases—The Sheriff is a lessee for noncancellable building and equipment leases. At the government-
wide level, in the governmental activities opinion unit, the County recognizes a lease liability and an
intangible right-to-use lease asset (lease asset). At the commencement of a lease, the Sheriff and the
County initially measures the lease liability at the present value of payments expected to be made during
the lease term. Subsequently, the lease asset is amortized on a straight-line basis over its useful life. At
the fund level, the Sheriff recognizes an expenditure and other financing source in the period the lease is
initially recognized.
Key estimates and judgments related to leases include how the Sheriff and County determines: (1)the
discount rate it uses to discount the expected lease payment to present value, (2) lease term, and (3)
lease payments.
• The Sheriff and County use the interest rate charged by the lessor as the discount rate. When the
interest rate charged by the lessor is not provided, the Sheriff and County generally use its estimated
incremental borrowing rate as the discount rate for the leases.
• The lease term includes the noncancellable period of the lease. Lease payments include the
measurement of the lease liability and are composed of the fixed payments and purchase option price
that the Sheriff and County is reasonably certain to exercise.
10
Monroe County, Florida Sheriff
Notes to Financial Statements
Note 1. Nature of Operations and Significant Accounting Policies (Continued)
The Sheriff and County monitors changes in circumstances that would require a remeasurement of its
lease and will remeasure the lease asset and liability if certain changes occur that are expected to
significantly affect the amount of the lease liability. Lease assets are reported with other capital assets
and lease liabilities are reported with long-term debt in the statement of net position as part of the
governmental activities, opinion unit in the basic financial statements of the County.
The leases state they may be canceled in the event budget appropriations are not sufficient to meet the
Sheriff's obligations under the leases.
Use of Estimates — The preparation of financial statements in conformity with accounting principles
generally accepted in the United States requires management to make estimates and assumptions that
affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the
date of the financial statements and the reported amounts of revenues and expenditures during the
reporting period. Actual results could differ from estimates.
New Accounting Pronouncement— Effective October 1, 2021, the Sheriff adopted the provisions of GASB
Statement 87, Leases. The objective of this statement is to better meet the informational needs of
financial statement users by improving accounting and financial reporting for leases by governments. The
requirements of this statement are effective for reporting periods beginning after December 15, 2021, as
postponed by GASB Statement No. 95, Postponement of the Effective Dates of Certain Authoritative
Guidance. The adoption of this statement did not affect beginning fund balance, but it required additional
reporting of all lease related amounts and additional lease related disclosures.
The following are new accounting pronouncements that have been issued but are not yet effective:
GASB Statement No. 96, Subscription-Based Information Technology Arrangements. GASB Statement
No. 96 provides accounting and financial reporting guidance for subscription-based information
technology arrangements (SBITAs). It is based on the standards established in Statement No. 87,
Leases. It:
• Defines a SBITA as a contract that conveys control of the right to use a SBITA vendor's IT
software, alone or in combination with tangible capital assets (the underlying IT assets), as
specified in the contract for a period of time in an exchange or exchange-like transaction;
• Requires governments with SBITAs to recognize a right-to-use subscription asset—an intangible
asset—and a corresponding subscription liability (with an exception for short-term SBITAs—those
with a maximum possible term of 12 months); and
• Provides guidance related to outlays other than subscription payments, including implementation
costs, and requirements for note disclosures related to a SBITA.
The requirements of this Statement are effective for reporting periods beginning after June 15, 2022.
GASB Statement No. 99, Omnibus 2022. The requirements of this Statement are effective as follows:
The requirements related to extension of the use of LIBOR, accounting for SNAP distributions,
disclosures of nonmonetary transactions, pledges of future revenues by pledging governments,
clarification of certain provisions in Statement 34, as amended, and terminology updates related to
Statement 53 and Statement 63 are effective upon issuance.
The requirements related to leases, PPPs, and SBITAs are effective for fiscal years beginning after
June 15, 2022, and all reporting periods thereafter.
11
Monroe County, Florida Sheriff
Notes to Financial Statements
Note 1. Nature of Operations and Significant Accounting Policies (Continued)
The requirements related to financial guarantees and the classification and reporting of derivative
instruments within the scope of Statement 53 are effective for fiscal years beginning after June 15, 2023,
and all reporting periods thereafter. Earlier application is encouraged and is permitted by topic.
GASB Statement No. 100, Accounting Changes and Error Corrections — an amendment of GASB
Statement No. 62. The primary objective of this Statement is to enhance accounting and financial
reporting requirements for accounting changes and error corrections to provide more understandable,
reliable, relevant, consistent, and comparable information for making decisions or assessing
accountability. Effective Date: For fiscal years beginning after June 15, 2023, and all reporting periods
thereafter. Earlier application is encouraged.
GASB Statement No. 101, Compensated Absences. The objective of this Statement is to better meet the
information needs of financial statement users by updating the recognition and measurement guidance
for compensated absences. That objective is achieved by aligning the recognition and measurement
guidance under a unified model and by amending certain previously required disclosures. Effective Date:
The requirements of this Statement are effective for fiscal years beginning after December 15, 2023, and
all reporting periods thereafter. Earlier application is encouraged.
Management is in the process of determining what impact, if any, implementation of the above
statements may have on the financial statements of the Sheriff.
Note 2. Deposits and investments
Cash, cash equivalents and investments at September 30, 2022, consist of the following:
Deposits and investments:
Type Fair Value
Demand deposits $ 11,685,009
Florida PRIME 169,022
Municipal Bonds 4,401,009
16,255,040
Petty cash 6,597
$ 16,261,637
Cash, cash equivalents and investments at September 30, 2022, are reported in the Balance Sheet and
Statement of Net Position as follows:
Governmental Custodial
Funds Funds Total
Cash and cash equivalents $ 10,298,038 $ 1,562,590 $ 11,860,628
Investments 4,401,009 - 4,401,009
Cash, cash equivalents and investments $ 14,699,047 $ 1,562,590 $ 16,261,637
Deposits — Cash and cash equivalents to include demand deposits insured by the Federal Deposit
Insurance Corporation or covered by the State of Florida collateral pool, a multiple financial institution
pool with the ability to assess its members for collateral shortfalls if a member institution fails. Cash
equivalents also include the investment in Florida PRIME for $169,022. The bank balance of all
demand deposits at September 30, 2022 was $13,430,529. The Sheriff also has petty cash totaling
$6,597 as of September 30, 2022.
12
Monroe County, Florida Sheriff
Notes to Financial Statements
Note 2. Deposits and investments (Continued)
Investments— Florida Statutes and the Sheriff's investment policy authorize investments in certificates of
deposit, savings accounts, repurchase agreements, the Local Government Surplus Funds Trust Fund
administered by the Florida State Board of Administration, money market funds, direct obligations of the
U.S. Treasury, federal agencies and instrumentalities, rated or unrated bonds, notes or instruments,
securities of or interests in any investment company or investment trust, commercial paper and Municipal
Securities.
Florida PRIME is stated at amortized cost, which is substantially the same as fair value. Municipal bonds
are stated at fair value based on Level 2 of the fair value hierarchy, using quoted prices for similar assets
in active markets or identical or similar assets in inactive markets.
As of September 30, 2022, the Sheriff had $169,022 invested in the SBA and $4,401,009 in Municipal
Bonds, which was 28% of the Sheriff's total cash and cash equivalents and investments. Of the
$169,022 invested in the SBA, 100% is invested in Florida PRIME. The Municipal Bonds are rated by
Standard and Poor's as AA and the ratings on the Municipal Bonds from Moody's are rated from Aaa
through Aa3.
Florida PRIME is rated by Standard and Poor's. The current rating is AAAm. The weighted average
days to maturity (WAM) of the Florida PRIME at September 30, 2022 is 21 days. Next interest rate
reset days for floating rate securities are used in the calculation of the WAM. The weighted average life
(WAL)of Florida Prime at September 30, 2022, is 72 days.
Investment Type Fair Value 0-1 Year 1 -5 Years 5 Years or more
Certificates of Deposit $ 1,781,788 $ 1,390,271 $ 391,517 $ -
Municipal Bonds 2,619,221 1,319,074 914,883 385,264
Total $ 4,401,009 $ 2,709,345 $ 1,306,400 $ 385,264
Note 3. Interfund Receivables and Payables
Interfund receivables and payables at September 30, 2022, consist of the following:
Due From Due to
Other Funds Other Funds
General $ 1,051,546 $ 776,642
HI DTA 5,859 1,175,456
Grants 297,969 814,892
Other governmental 1,579,426 167,810
$ 2,934,800 $ 2,934,800
13
Monroe County, Florida Sheriff
Notes to Financial Statements
Note 4. Capital Assets
A summary of changes in the Sheriffs capital assets, presented in the government-wide financial
statements of the County, is as follows which includes GASB 87 lease accounting reporting requirements:
Balance Balance
10/1/2021 Additions Deductions 09/30/2022
Capital assets not depreciated:
Construction in progress $ 713 $ 38,015 $ 713 $ 38,015
Total capital assets not depreciated $ 713 $ 38,015 $ 713 $ 38,015
Capital assets depreciated:
Buildings/leaseholds $ 3,341,754 $ 67,912 $ 103,366 $ 3,306,300
Right of use-leased assets—buildings - 50,003,773 - 50,003,773
Equipment 54,250,740 3,566,963 1,122,306 56,695,397
Total capital assets depreciated $ 57,592,494 $ 53,638,648 $ 1,225,672 $ 110,005,470
Accumulated depreciation $ 34,200,688 $ 3,400,559 $ 1,053,395 $ 36,547,852
Accumulated amortization of ROU Assets - 4,083,187 - 4,083,187
Total Accumulated depreciation and
amortization $ 34,200,688 $ 7,483,746 $ 1,053,395 $ 40,631,039
Capital assets, net $ 23,392,519 $ 46,192,917 $ 172,990 $ 69,412,446
The above tables includes the effects of the adoption of GASB Statement No. 87 Leases, all
leases of the Sheriff that meet the criteria of GASB 87 have been recorded in accordance with
the standard resulting in the reporting in capital asset additions for right of use-leased assets
and related accumulated depreciation for all leases with a term in excess of twelve months that
existed as of October 1, 2021 which totaled approximately $41.7 million as well as those
acquired during fiscal year ended September 30, 2022 which was a building lease for
approximately 8.3 million. All amounts are being reported in the additions column above.
Note 5. Long-Term Debt
The Sheriff permits employees to accumulate earned but unused vacation and sick pay benefits. The
Sheriff is not legally required to and does not accumulate expendable available financial resources to
liquidate this obligation. The obligation for compensated absences is accrued in the government-wide
financial statements of the County. A summary of activity for the Sheriffs compensated absences
obligation is as follows:
Compensated
Absences
Long-term debt, beginning of year $ 8,531,127
Additions 4,126,813
Reducations (3,832,491)
Long-term debt, end of year 8,825,449
14
Monroe County, Florida Sheriff
Notes to Financial Statements
Note 6. Fund Balances
Restricted Fund Balance — This classification includes revenue sources that are restricted to specific
purposes externally imposed by creditors or imposed by law.
Funds with restricted fund balance are as follows:
Grants Fund is restricted for Federal Emergency Management Agency funding which has been expended
but not yet received which has specific eligibility requirements.
Shared Asset Forfeiture Fund is restricted upon Ordinance 030-2000 which specifies use must be for law
enforcement crime prevention, drug and alcohol abuse prevention and treatment, mental and physical
health of minors and adults, and cultural, artistic, educational, recreational and sports programs for
Monroe County youth.
E-911 Fund is restricted based upon the E-911 costs allowable by State Statute [F.S. 365].
Commissary Fund is restricted for Inmate and Farm as outlined by State Statute [F.S. 951.23(9)].
Inter-Agency Communications Fund is restricted by State Statute [318.21(9)].
Committed fund balance — Portion of fund balance that can be used for specific purposes imposed by the
Sheriff(highest level of decision-making authority). Any changes or removal of specific purposes requires
action by the Sheriff.
Funds with committed fund balance is as follows:
Contract Administrative Fund is committed for the administration of contracts between the Sheriff and
third parties.
Note 7. Retirement Plans
Plan Description — The Sheriff's employees participate in the Florida Retirement System (FRS). As
provided by Chapters 121 and 112, Florida Statutes, the FRS provides two cost sharing, multiple
employer defined benefit plans administered by the Florida Department of Management Services,
Division of Retirement, including the FRS Pension Plan (Pension Plan) and the Retiree Health Insurance
Subsidy(HIS Plan).
Under Section 121.4501, Florida Statutes, the FRS also provides a defined contribution plan (Investment
Plan)alternative to the FRS Pension Plan, which is administered by the State Board of Administration.
As a general rule, membership in the FRS is compulsory for all employees working in a regularly
established position for a state agency, county government, district school board, state university,
community college or a participating city or special district within the state of Florida. The FRS provides
retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members
and beneficiaries. Benefits are established by Chapter 121, Florida Statutes, and Chapter 60S, Florida
Administrative Code. Amendments to the law can be made only by an act of the Florida Legislature.
15
Monroe County, Florida Sheriff
Notes to Financial Statements
Note 7. Retirement Plans (Continued)
Benefits under the Pension Plan are computed on the basis of age, average final compensation and
service credit. For Pension Plan members enrolled before July 1, 2011, Regular class members who
retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age
are entitled to a retirement benefit payable monthly for life, equal to 1.6% 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. 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. Elected Officers' class members who retire at or after age 62 with
at least six years of credited service or 30 years of service regardless of age are entitled to a retirement
benefit payable monthly for life, equal to 3.0% of their final average compensation based on the five
highest years of salary for each year of credited service. Special Risk Administrative Support class
members who retire at or after age 62 with at least six years of credited service or 30 years of service
regardless of age are entitled to a retirement benefit payable monthly for life, equal to 3.0% 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 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% of their final average compensation based on
the five highest years of salary for each year of credited service. Substantial changes were made to the
Pension Plan during fiscal year 2011 affecting members enrolled on or after July 1, 2011, by extending
the vesting requirement for Regular, Senior Management Service, Elected Officers', and Special Risk
Administrative Support class members to eight years of credited service and increasing normal retirement
to age 65 with at least eight years of credited service or 33 years of service regardless of age. The
vesting requirement for Special Risk class members was extended to eight years of credited service and
increasing normal retirement to age 60 with at least eight years of credited service or 30 years of service
regardless of age or age 57 with 30 years of combined Special Risk Class service and military service.
Also, the final average compensation of these members will be based on the eight highest years of
salary. A post-employment health insurance subsidy is also provided to eligible retired members through
the FRS in accordance with Florida Statutes.
The HIS Plan provides a monthly benefit to assist retirees in paying their health insurance costs and is
administered by the Florida Department of Management Services, Division of Retirement. Eligible retirees
and beneficiaries receive a monthly health insurance subsidy payment of $5 for each year of creditable
service, with a minimum payment of $30 and a maximum payment of $150 per month. The HIS Plan is
funded by required contributions from FRS participating employees as set forth by the Florida Legislature,
based on a percentage of gross compensation for all active FRS members.
In addition to the above benefits, the FRS administers a Deferred Retirement Option Program (DROP).
This program allows eligible members to defer receipt of monthly retirement benefit payments while
continuing employment with a FRS employer for a period not to exceed 60 months after electing to
participate. Deferred monthly benefits are held in the FRS Trust Fund and accrue interest. There are no
required contributions by DROP participants. House Bill 5007, Chapter 2022-159, Laws of Florida,
effective July 1, 2022. Included in this bill is a provision to allow DROP participants in law enforcement
officer positions that meet the criteria of subsection 121.0515(3) (a), Florida Statutes, to participate for up
to an additional 36 calendar months beyond their initial 60-month eligibility period. Eligible law
enforcement officers must be in DROP on July 1, 2022, or begin their DROP participation between July 1,
2022 and June 30, 2028.
16
Monroe County, Florida Sheriff
Notes to Financial Statements
Note 7. Retirement Plans (Continued)
For those members who elect participation in the Investment Plan, rather than the Pension Plan, vesting
occurs at one year of service. These participants receive a contribution for self-direction in an investment
product with a third-party administrator selected by the SBA. 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 FRS defined
benefit plan. Contributions are directed to individual member accounts, and the individual members
allocate contributions and account balances among various approved investment choices. Costs of
administering the plan, including the FRS Financial Guidance Program, are funded through an employer
contribution of 0.04%of payroll and by forfeited benefits of plan members.
The Monroe County Sheriff's Office recognizes pension expenditures in an amount equal to amounts paid
to the Pension Plan, the defined contribution plan and the HIS Plan, amounting to $6,447,516,
$1,391,572 and $658,355, respectively, for the fiscal year ended September 30, 2022. The Monroe
County Sheriff's Office payments for the Pension Plan and the HIS Plan after June 30, 2022, the
measurement date used to determine the net pension liability associated with the Pension Plan and HIS
Plan, amounted to $1,988,093 and $179,856, respectively. The Sheriff is not legally required to and does
not accumulate expendable available resources to liquidate the retirement obligation related to its
employees. Accordingly, the net pension liability and associated deferred outflows and deferred inflows
are presented on the government-wide financial statements of the County, following requirements of
GASB Statement 68, Accounting and Financial Reporting for Pensions — an amendment of GASB
Statement 27, and GASB Statement 71, Pension Transition for Contributions Made Subsequent to the
Measurement Date—an amendment of GASB Statement 68.
Funding Policy — All enrolled members of the FRS other than DROP participants are required to
contribute 3% of their salary to the FRS. In addition to member contributions, governmental employers
are required to make contributions to the FRS based on state-wide contribution rates. The employer
contribution rates by job class for the periods from October 1, 2021 through June 30, 2022 and July 1,
2022 through September 30, 2022, respectively, were as follows: regular members 10.82% and 11.91%,
special risk — 25.89 % and 27.83%, special risk administrative support — 37.76% and 38.65%, senior
management—29.01% and 31.57% and, county elected officers — 51.42% and 57.00%. During the fiscal
year ended September 30, 2022, the Monroe County Sheriff's Office contributed to the plan an amount
equal to 21.64% of covered payroll of$39,659,996.
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 website
www.dms.mvflorida.com/workforce oaerations/retirement/publications.
Monroe County Sheriffs office offers 457 Deferred Compensation Programs to all employees of the
agency. Employees may participate in the plan through payroll deductions and the plan is funded by
Empower Retirement and Valic group variable annuity contract. Contributions are invested at the
employee's direction through the options available under the program. Employees are fully vested at time
of enrollment. The Monroe County Sheriff's Office has no liability beyond the payment of bi-weekly payroll
contributions.
17
Monroe County, Florida Sheriff
Notes to Financial Statements
Note 7. Retirement Plans (Continued)
Monroe County Sheriffs office also offers a profit-sharing pension plan known as the 401(a) Discretionary
Contribution Pension Plan. Only full-time employees of the Sheriffs office classified as
Telecommunications Officer, Telecommunications Supervisor or Telecommunications Director are
covered under the pension program established. Effective July 20, 2009, new hired employees will be
exempt from the Plan. Those classes of employees are eligible to participate in the program on the first
day of the 12-consecutive month period commencing on October 1.
The plan allows the agency to contribute ongoing non-elective contributions to each eligible employee's
account. The routine amount contributed to each employees account is the variance between FRS's
special risk retirement rate and the rate given to the FRS class-group that the Dispatcher's fall into.
The Sheriff contributed $6,864 for the year ended September 30, 2022, and there were no employee
contributions.
Note 8. Other Postemployment Benefits (OPEB) Plan
In addition to the retirement plan benefits described in Note 7, the Sheriff offers to its employees a single-
employer defined benefit healthcare plan, which is administered by the Board. Florida Statute 112.0801
requires the County to provide retirees and their eligible dependents with the option to participate in the
OPEB plan if the County provides health insurance to its active employees and their eligible dependents.
The OPEB plan provides medical coverage, prescription drug benefits and life insurance to both active
and eligible retired employees. The OPEB plan does not issue a publicly available financial report. No
assets are accumulated in a trust that meets the criteria as set forth in GASB Statement 75, Accounting
and Financial Reporting for Postemployment Benefit Plans Other Than Pensions.
The Board may amend the OPEB plan design, with changes to the benefits, premiums and/or levels of
participant contribution at any time. On at least an annual basis, in an open session, and prior to the
annual enrollment process, the Board approves the rates for the coming calendar year for the retiree and
County contributions.
Eligibility for postemployment participation in the OPEB plan is limited to full-time employees of the
County, and the Constitutional Officers. An employee who retires as an active participant in the OPEB
plan and was hired on or after July 1, 2011 may continue to participate in the OPEB plan by paying the
monthly premium established annually by the Board. An employee who retires as an active participant in
the plan, was hired prior to October 1, 2001, has at least ten years of full-time service with the County,
and meets the retirement criteria of the FRS but is not eligible for Medicare, may maintain group health
insurance benefits with Monroe County following retirement, provided the retiring employee contributes
the amounts shown in the table below.
Contribution as Percentage of Annual Actuarial Rate
Plan Years of Service with Monroe County
Year 25+ 20-24 10-19
2022 HIS (') 20% 50%
2023 HIS 22% 50%
2024 HIS 25% 50%
2025 HIS 25% 50%
2026 HIS 25% 50%
(1) HIS is the state of Florida's Health Insurance Subsidy plan that assists retirees in paying
the cost of health insurance as explained in Note 7.
18
Monroe County, Florida Sheriff
Notes to Financial Statements
Note 8. Other Postemployment Benefits ("OPEB) Plan (Continued)
Retirees who have met the requirements for early retirement, have not achieved age 60 and whose age
and years of service do not equal 70 (rule of 70) must pay the standard monthly premium until the age
criteria or the rule of 70 is met. At that time, the retiree's cost of participation will be 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 July 1, 2011, 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 Monroe County following retirement, provided the retiring employee
contributes the Actuarial Rate for Medicare retirees as determined by the actuarial firm engaged by the
County, less a $250 per month County subsidy. Alternatively, retirees meeting these criteria may elect to
leave the County health plan and receive a $250 per month payment from the county, payable for the
lifetime of the retiree.
The Board engages an actuarial firm on a biannual basis to determine the County's accrued net OPEB
liability. The Sheriff has no responsibility to the OPEB plan other than to make the periodic payments
determined by the Board, which are presented as expenditures when made and amounted to $855,210
for the year ended September 30, 2022. Further information about the OPEB plan is available in the
County's ACFR which is published on the Clerk's website at www.clerk-of-the-court.com.
Note 9. Risk Management
The Sheriff is exposed to various risks of loss related to tort; theft of, damage to, and destruction of
assets; errors and omissions; injuries to employees and natural disasters. The Sheriff participates in the
coverage provided by the Board for Workers' Compensation, Group Insurance and Risk Management
Internal Service Funds. Under these programs, Workers' Compensation provides $500,000 coverage per
claim for regular employees. Workers' Compensation claims in excess of the self-insured coverage are
covered by an excess insurance policy. Risk Management has a $5,000,000 excess insurance policy for
general liability claims with a $200,000 self-insured retention, and building property damage is covered for
the actual value of the building with a deductible of$50,000. Deductibles for windstorm and flood vary by
location. Monroe County purchases commercial insurance for claims in excess of coverage provided by
the funds and for all other risks of loss. Settled claims have not exceeded this commercial coverage in
any of the past three years. The Sheriff makes payments to the Workers' Compensation, Group
Insurance and Risk Management Funds based on estimates of the amounts needed to pay prior and
current year claims.
Note 10. Litigation
From time to time, the Sheriff is a party to various lawsuits and claims, which it vigorously defends. Such
matters arise out of the normal course of its operation, some of which are covered by insurance policies
or by the Sheriff's participation in the Florida Sheriff's Self-Insurance Fund. While the results of litigation
cannot be predicted with certainty, management believes the final outcome of such litigation will not have
a material adverse effect on the Sheriff's financial position.
19
Monroe County, Florida Sheriff
Notes to Financial Statements
Note 11. Lease Commitments
Lease expenditures for all leases for the year ended September 30, 2022, amounted to approximately
$3,935,150. As part of the adoption of GASB 87, a lease liability of$41,725,150 was recorded on October
1st for all leases in existence prior to October 1st. Annual debt service requirements to maturity for lease
commitments are as follows:
Balance Balance
10/1/2021 Additions Deductions 09/30/2022
Lease liability $ - $ 50,003,773 $ (2,680,946) $ 47,322,827
Principle Interest Total
Fiscal Year Ending September 30,
2023 $ 1,789 $ 57 $ 1,846
2024 915 8 923
Totals $ 2,704 65 $ 2,769
Buildings
Principle Interest Total
Fiscal Year Ending September 30,
2023 $ 2,908,764 $ 1,373,344 $ 4,282,108
2024 3,012,534 1,287,954 4,300,488
2025 3,126,931 1,192,173 4,319,104
2026 3,242,206 1,096,497 4,338,703
2027 3,361,456 997,300 4,358,756
2028-2032 18,188,411 3,396,121 21,584,532
2033-2037 11,018,566 909,151 11,927,717
2038-2042 1,823,642 178,940 2,002,582
2043-2047 181,593 82,207 263,800
2048-2052 210,956 52,201 263,157
2053-2057 245,064 17,282 262,346
Totals 47,320,123 10,583,170 57,903,293
Totals $ 47,322,827 $ 10,583,235 $ 57,906,062
Note 12. Contingencies
The Sheriff is the recipient of grants that are subject to special compliance requirements and audits by the
grantor agencies that may result in disallowed expense amounts. These amounts constitute a contingent
liability of the Sheriff. The Sheriff does not believe any contingent liabilities to be material to the financial
statements.
Note 13. Fund Deficit
The Grants Fund has a deficit of$367,629 due to the timing of grant reimbursements which resulted in a
deferred inflow for unavailable revenues.
20
REQUIRED SUPPLEMENTARY INFORMATION
Monroe County, Florida Sheriff
Schedule of Revenues, Expenditures and Changes in Fund Balances
Budget and Actual—General Fund
Year Ended September 30,2022
Variance
With Final
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Intergovernmental—BOCC $ 56,417,699 $ 55,957,754 $ 56,957,754 $ 1,000,000
Investment income - - 73,072 73,072
Miscellaneous income - - 493,013 493,013
Total revenues 56,417,699 55,957,754 57,523,839 1,566,085
Expenditures:
Current:
Personnel services 44,676,727 41,363,727 40,261,171 1,102,556
Operating expenses 10,526,001 12,012,621 11,800,721 211,900
Debt Service:
Principle - 46,500 46,317 183
Interest and other charges - 9,500 9,114 386
Capital outlay 1,074,971 2,094,026 2,059,970 34,056
Total expenditures 56,277,699 55,526,374 54,177,293 1,349,081
Excess of revenues over(under)
expenditures 140,000 431,380 3,346,546 2,915,166
Other financing sources(uses):
Insurance proceeds - - 35,830 35,830
Transfer to Board of County Commissioners - (225,000) (2,839,003) (2,614,003)
Transfer to other governments - - (375,976) (375,976)
Transfers to other funds (140,000) (206,380) (167,397) 38,983
Total other financing sources(uses) (140,000) (431,380) (3,346,546) (2,915,166)
Excess of revenues over expenditures
and other financing sources(uses) - - - -
Fund balances, beginning of year - - - -
Fund balances, end of year $ - $ - $ - $ -
Note: For financial reporting purposes in the fund financial statements the transfer of excess fees to other governments
outside the County is reported as an operating expense and above they are shown as a transfer to other governments for
budget purposes since they are not a budgeted item.
21
Monroe County, Florida Sheriff
Schedule of Revenues, Expenditures and Changes in Fund Balances
Budget and Actual—Trauma Star
Year Ended September 30, 2022
Variance
With Final
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Intergovernmental—BOCC $ 5,234,604 $ 6,234,604 $ 6,234,604 $ -
Total revenues 5,234,604 6,234,604 6,234,604 -
Expenditures:
Current:
Personnel services 1,871,530 1,571,530 1,499,075 72,455
Operating expense 3,348,074 4,648,074 4,467,194 180,880
Capital outlay 15,000 15,000 - 15,000
Total expenditures 5,234,604 6,234,604 5,966,269 268,335
Excess of revenues over (under)
expenditures - - 268,335 268,335
Other financing sources (uses):
Transfer to Board of County Commissioners - - (268,335) (268,335)
Total other financing sources (uses) - - (268,335) (268,335)
Excess of revenues over expenditures and other
financing sources (uses) - - - -
Fund balances, beginning of year - - - -
Fund balances, end of year $ - $ - $
22
Monroe County, Florida Sheriff
Schedule of Revenues, Expenditures and Changes in Fund Balances
Budget and Actual—Radio Communications
Year Ended September 30, 2022
Variance
With Final
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Intergovernmental— BOCC $ 715,905 $ 891,905 $ 833,619 $ (58,286)
Charges for services - - 58,286 58,286
Total revenues 715,905 891,905 891,905 -
Expenditures:
Current:
Personnel services 204,877 229,877 222,351 7,526
Operating expense 503,028 653,028 598,107 54,921
Capital outlay 8,000 9,000 8,537 463
Total expenditures 715,905 891,905 828,995 62,910
Excess of revenues over (under)
expenditures - - 62,910 62,910
Other financing sources (uses):
Transfer to Board of County Commissioners - - (62,910) (62,910)
Total other financing sources (uses) - - (62,910) (62,910)
Excess of revenues over expenditures and other
financing sources (uses) - - - -
Fund balances, beginning of year - - - -
Fund balances, end of year $ - $ -
23
Monroe County, Florida Sheriff
Schedule of Revenues, Expenditures and Changes in Fund Balances
Budget and Actual—Hidta Grants Fund
Year Ended September 30, 2022
Variance
With Final
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Intergovernmental—other government units $ 22,557,000 $ 22,365,000 $ 22,313,245 $ (51,755)
Total revenues 22,557,000 22,365,000 22,313,245 (51,755)
Expenditures:
Current:
Personnel services 4,075,000 3,930,000 3,915,348 14,652
Operating expenses 17,056,000 13,350,000 13,327,573 22,427
Debt Service:
Principal - 2,635,000 2,634,629 371
Interest - 1,250,000 1,245,091 4,909
Capital outlay 1,426,000 1,200,000 9,469,227 (8,269,227)
Total expenditures 22,557,000 22,365,000 30,591,868 (8,226,868)
Excess of revenues over(under)expenditures - - (8,278,623) (8,278,623)
Other financing sources:
Lease financing - - 8,278,623 8,278,623
Total other financing sources - - 8,278,623 8,278,623
Excess of revenues and other financing sources
over expenditures - - - -
Fund balances, beginning of year - - - -
Fund balances, end of year $ $ $ $
Note: For financial reporting purposes in the fund financial statements the transfer of excess fees to other governments
outside the County is reported as an operating expense and above they are shown as a transfer to other governments for
budget purposes since they are not a budgeted item. Due to the adoption of GASB 87,the Sheriff recognized an
unbudgeted capital outlay expenditure and offsetting lease financing proceeds to recognize a new lease executed in
fiscal year 2022,which results in capital outlay expenditures exceeding budget.
24
Monroe County, Florida Sheriff
Schedule of Revenues, Expenditures and Changes in Fund Balances
Budget and Actual—Grants Fund
Year Ended September 30, 2022
Variance
With Final
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Intergovernmental—BOCC $ 175,000 $ 175,000 $ 164,153 $ (10,847)
Intergovernmental—other government units 965,000 765,000 599,059 (165,941)
Total revenues 1,140,000 940,000 763,212 (176,788)
Expenditures:
Current:
Personnel services 575,000 675,000 660,096 14,904
Operating expenses 445,000 500,000 461,745 38,255
Capital outlay 55,000 120,000 117,972 2,028
Total expenditures 1,075,000 1,295,000 1,239,813 55,187
Excess of revenues over(under)expenditures 65,000 (355,000) (476,601) (121,601)
Other financing sources:
Transfers to Board of County Commissioners - - (22,850) (22,850)
Transfers from other funds - - 158,197 158,197
Total other financing sources - - 135,347 135,347
Excess of revenues over expenditures and other
financing sources (uses) - - (341,254) (341,254)
Fund balances (deficit), beginning of year (26,375) (26,375) (26,375) -
Fund balances (deficit), end of year $ (26,375) $ (26,375) $ (367,629) $ (341,254)
25
Monroe County, Florida Sheriff
Schedule of Revenues, Expenditures and Changes in Fund Balances
Budget and Actual—Shared Asset Forfeiture Fund
Year Ended September 30, 2022
Variance
With Final
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Investment income $ 15,000 $ 120,000 $ 119,298 $ 702
Change in fair value of investments - (445,000) (443,404) (1,596)
Total revenues 15,000 (325,000) (324,106) (894)
Expenditures:
Operating expenses 50 300 220 80
Aid to other governments/non-profits 135,000 155,000 150,391 4,609
Total expenditures 135,050 155,300 150,611 4,689
Excess of revenues over(under)expenditures (120,050) (480,300) (474,717) (5,583)
Fund balances, beginning of year 5,048,106 5,048,106 5,048,106 -
Fund balances, end of year $ 4,928,056 $ 4,567,806 $ 4,573,389 $ (5,583)
26
OTHER SUPPLEMENTARY INFORMATION
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Monroe County, Florida Sheriff
Non-Major Special Revenue Funds Description
The purpose of each non-major special revenue fund in the combining balance sheet and combining
statement of revenues, expenditures and changes in fund balances is described below.
Teen Court Fund— This fund accounts for receipts and disbursements pertaining to a program designed
to deter juveniles who are becoming involved in crime.
Law Enforcement Trust Fund — This fund accounts for expenditures to non-profit organizations to help
deter drug use and juvenile delinquency.
State Fine and Forfeiture (State Forfeiture) —This fund accounts for the proceeds received primarily from
seizures and forfeitures.
Contract Administrative Fund—This fund accounts for the administration of contracts between the Sheriff
and third parties.
Commissary Fund — This fund accounts for receipts and disbursements of inmate telephone
commissions, canteen revenues and other inmate programs.
Inter-Agency Communications Fund — This fund accounts for revenues and expenditures allocated for
radio communications.
Federal Forfeiture (Federal Forfeiture) — This fund accounts for the revenues from the U.S. Departments
of Justice and Treasury. Expenditures are made in accordance with the guidelines issued by these
agencies.
E-911 Fund (E-911) — This fund accounts for the E-911 fees levied on each telephone access line in
Monroe County for the enhancement of the 911 emergency telephone systems.
28
Monroe County, Florida Sheriff
Combining Balance Sheet—Non-Major Governmental Funds
Special Revenue Funds
September 30,2022
Law
Enforcement State
Teen Court Trust Fund Forfeiture
Assets
Cash and cash equivalents $ - $ 76 $ 29,367
Due from Board of County Commissioners - - -
Due from other funds 3,643 - 21
Due from governmental units 4,296 - -
Due from others - - -
Total assets $ 7,939 $ 76 $ 29,388
Liabilities and Fund Balances
Liabilities:
Accounts payable $ - $ - $ -
Accrued wages and benefits payable - - -
Due to Board of County Commissioners - 55 29,388
Due to other governmental units - - -
Due to other funds - 21 -
Unearned revenues - - -
Totalliabilities - 76 29,388
Fund balances, restricted:
Law Enforcement Programs - - -
Teen court program 7,939 - -
Inter-agency communication program - - -
Inmate welfare program - - -
Farm program - - -
E-911 programs - - -
Fund balances,committed:
Contract administration - - -
Total fund balances 7,939 - -
Total liabilities,deferred inflows of resources and fund balances $ 7,939 $ 76 $ 29,388
29
Monroe County, Florida Sheriff
Combining Balance Sheet—Non-Major Governmental Funds
Special Revenue Funds
September 30,2022
Contract Inter-Agency
Administrative Commissary Communications
Assets
Cash and cash equivalents $ $ 1,269,891 $ 198,259
Due from Board of County Commissioners - 14,619
Due from other funds 1,570,977 4,785 -
Due from governmental units 17,383 - 4,481
Due from others - 67,478 10,994
Total assets $ 1,588,360 $ 1,342,154 $ 228,353
Liabilities and Fund Balances
Liabilities:
Accounts payable $ - $ 14,592 $ 13,710
Accrued wages and benefits payable - 5,800 -
Due to Board of County Commissioners 123,342 -
Due to other governmental units 156,139 41,943 -
Due to other funds 15,225 16,299 493
Unearned revenues 63,133 - -
Totalliabilities 357,839 78,634 14,203
Fund balances, restricted:
Law Enforcement Programs - - -
Teen court program -
Inter-agency communication program - 214,150
Inmate welfare program 1,155,854 -
Farm program 107,666
E-911 programs - -
Fund balances,committed:
Contract administration 1,230,521 - -
Total fund balances 1,230,521 1,263,520 214,150
Total liabilities,deferred inflows of resources and fund balances $ 1,588,360 $ 1,342,154 $ 228,353
30
Monroe County, Florida Sheriff
Combining Balance Sheet—Non-Major Governmental Funds
Special Revenue Funds
September 30,2022
Total
Nonmajor
Federal Special Revenue
Forfeiture E-911 Funds
Assets
Cash and cash equivalents $ 222,971 $ 1,438,674 $ 3,159,238
Due from Board of County Commissioners 56,603 44,619 115,841
Due from other funds - - 1,579,426
Due from governmental units - 26,160
Due from others - 94 78,566
Total assets $ 279,574 $ 1,483,387 $ 4,959,231
Liabilities and Fund Balances
Liabilities:
Accounts payable $ - $ 9,010 $ 37,312
Accrued wages and benefits payable - 3,549 9,349
Due to Board of County Commissioners 620 41 153,446
Due to other governmental units - - 198,082
Due to other funds 129,904 5,868 167,810
Unearned revenues - - 63,133
Total liabilities 130,524 18,468 629,132
Fund balances,restricted:
Law Enforcement Programs 149,050 - 149,050
Teen court program - 7,939
Inter-agency communication program 214,150
Inmate welfare program 1,155,854
Farm program - 107,666
E-911 programs 1,464,919 1,464,919
Fund balances,committed:
Contract administration - - 1,230,521
Total fund balances 149,050 1,464,919 4,330,099
Total liabilities,deferred inflows of resources and fund balances $ 279,574 $ 1,483,387 $ 4,959,231
31
Monroe County,Florida Sheriff
Combining Statement of Revenues,Expenditures and Changes in Fund Balances
Non-Major Governmental Funds
Special Revenue Funds
Year Ended September 30,2022
Law
Enforcement State
Teen Court Trust Fund Forfeiture
Revenues:
Intergovernmental—BOCC $ $ 8,945 $
Intergovernmental—other government units -
Charges for services 58,324 -
Fines and forfeitures - 61,781
Investment income 177
Miscellaneous - - -
Total revenues 58,324 8,945 61,958
Expenditures:
Current:
Personnel services 47,923 - -
Operating expenses 2,462 5,445 28,300
Capital outlay - - 4,270
Aid to other governments/non-profits - 3,500 -
Total expenditures 50,385 8,945 32,570
Excess of revenues over
(under)expenditures 7,939 - 29,388
Other financing sources(uses):
Transfers from other funds - -
Transfer to Board of County Commissioners (29,388)
Total other financing sources(uses) - (29,388)
Excess of revenues over expenditures and other
financing sources(uses) 7,939
Fund balances,beginning of year -
Fund balances,end of year $ 7,939 $ $
32
Monroe County,Florida Sheriff
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Non-Major Governmental Funds
Special Revenue Funds
Year Ended September 30,2022
Contract Inter-Agency
Administrative Commissary Communications
Revenues:
Intergovernmental—BOCC $ - $ - $ 191,407
Intergovernmental—other government units 1,288,459 - -
Charges for services 3,601,900 609,441 32,180
Fines and forfeitures - - -
Investment income 7,850 8,597 1,547
Miscellaneous income - 41,142 174
Total revenues 4,898,209 659,180 225,308
Expenditures:
Current:
Personnel services 4,403,080 207,594 -
Operating expenses 555,062 297,555 211,891
Capital outlay 51,149 5,199 -
Aid to other governments/non-profits 5,000 - -
Total expenditures 5,014,291 510,348 211,891
Excess of revenues over(under)
expenditures (116,082) 148,832 13,417
Other financing sources(uses):
Transfers from other funds 9,200 - -
Transfer to Board of County Commissioners - - -
Total other financing sources(uses) 9,200 - -
Excess of revenues over expenditures and other
financing sources(uses) (106,882) 148,832 13,417
Fund balances,beginning of year 1,337,403 1,114,688 200,733
Fund balances,end of year $ 1,230,521 $ 1,263,520 $ 214,150
33
Monroe County,Florida Sheriff
Combining Statement of Revenues,Expenditures and Changes in Fund Balances
Non-Major Governmental Funds
Special Revenue Funds
Year Ended September 30,2022
Total Nonmajor
Federal Special Revenue
Forfeiture E-911 Funds
Revenues:
Intergovernmental—BOCC $ - $ 566,678 $ 767,030
Intergovernmental—other government units 255,937 - 1,544,396
Charges for services - 4,301,845
Fines and forfeitures - 61,781
Investment income 10,016 28,187
Miscellaneous income - - 41,316
Total revenues 255,937 576,694 6,744,555
Expenditures:
Current:
Personnel services 38,126 140,885 4,837,608
Operating expenses 49,148 207,939 1,357,802
Capital outlay 255,786 - 316,404
Aid to other governments/non-profits - - 8,500
Total expenditures 343,060 348,824 6,520,314
Excess of revenues over(under)
expenditures (87,123) 227,870 224,241
Other financing sources(uses):
Transfers from other funds - 9,200
Transfer to Board of County Commissioners (29,388)
Total other financing sources(uses) - (20,188)
Excess of revenues over expenditures and other
financing sources(uses) (87,123) 227,870 204,053
Fund balances,beginning of year 236,173 1,237,049 4,126,046
Fund balances,end of year $ 149,050 $ 1,464,919 $ 4,330,099
34
Monroe County, Florida Sheriff
Schedule of Revenues, Expenditures and Changes in Fund Balances
Budget and Actual—Teen Court Fund
Year Ended September 30,2022
Variance
With Final
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Charges for services $ 66,000 $ 60,000 $ 58,324 $ (1,676)
Total revenues 66,000 60,000 58,324 (1,676)
Expenditures:
Current:
Personnel services 65,000 52,000 47,923 4,077
Operating expense 2,500 3,000 2,462 538
Total expenditures 67,500 55,000 50,385 4,615
Excess of revenues over(under)expenditures (1,500) 5,000 7,939 2,939
Fund balances, beginning of year - - - -
Fund balances, end of year $ (1,500) $ 5,000 $ 7,939 $ 2,939
35
Monroe County, Florida Sheriff
Schedule of Revenues, Expenditures and Changes in Fund Balances
Budget and Actual—Law Enforcement Trust Fund
Year Ended September 30, 2022
Variance
With Final
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Total revenues $ 3,500 $ 8,945 $ 8,945 $ -
Current:
Operating expense - 5,445 5,445 -
Aid to other governments/non-profits 3,500 3,500 3,500 -
Total expenditures 3,500 8,945 8,945 -
Fund balances, beginning of year - - - -
Fund balances, end of year $ - $ - $ - $ -
36
Monroe County, Florida Sheriff
Schedule of Revenues, Expenditures and Changes in Fund Balances
Budget and Actual—State Forfeiture Fund
Year Ended September 30,2022
Variance
With Final
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Fines and forfeitures $ 45,500 $ 62,000 $ 61,781 $ (219)
Investment income 500 1,000 177 (823)
Total revenues 46,000 63,000 61,958 (1,042)
Expenditures:
Current:
Operating expenses - 29,000 28,300 700
Capital outlay - 4,500 4,270 230
Total expenditures - 33,500 32,570 930
Excess of revenues over(under)
expenditures 46,000 29,500 29,388 (112)
Other financing uses:
Transfer to Board of County Commissioners (46,000) (29,500) (29,388) 112
Total other financing uses (46,000) (29,500) (29,388) 112
Excess of revenues over expenditures and other
financing sources (uses) - - - -
Fund balances, beginning of year - - - -
Fund balances, end of year $ - $ - $ - $ -
37
Monroe County, Florida Sheriff
Schedule of Revenues, Expenditures and Changes in Fund Balances
Budget and Actual—Contract Administrative Fund
Year Ended September 30,2022
Variance
With Final
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Intergovernmental—other governmental units $ 890,000 $ 1,305,000 $ 1,288,459 $ (16,541)
Charges for services 3,780,000 3,610,000 3,601,900 (8,100)
Investment income 10,000 10,000 7,850 (2,150)
Total revenues 4,680,000 4,925,000 4,898,209 (26,791)
Expenditures:
Current:
Personnel 4,190,000 4,405,000 4,403,080 1,920
Operating expenses 400,000 576,150 555,062 21,088
Capital expenses 50,000 52,000 51,149 851
Aid to other governments/non-profits - 5,000 5,000 -
Total expenditures 4,640,000 5,038,150 5,014,291 23,859
Excess of revenues over(under)
expenditures 40,000 (113,150) (116,082) (2,932)
Other financing sources(uses)
Transfers from other funds - - 9,200 9,200
Total other financing sources(uses) - - 9,200 9,200
Excess of revenues over expenditures and other
financing sources(uses) 40,000 (113,150) (106,882) 6,268
Fund balances, beginning of year 1,337,403 1,337,403 1,337,403 -
Fund balances, end of year $ 1,377,403 $ 1,224,253 $ 1,230,521 $ 6,268
38
Monroe County, Florida Sheriff
Schedule of Revenues, Expenditures and Changes in Fund Balances
Budget and Actual—Commissary Fund
Year Ended September 30, 2022
Variance
With Final
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Charges for services $ 525,000 $ 624,000 $ 609,441 $ (14,559)
Investment income 6,000 9,000 8,597 (403)
Miscellaneous income 19,000 42,000 41,142 (858)
Total revenues 550,000 675,000 659,180 (15,820)
Expenditures:
Current:
Personnel expenses 200,000 225,000 207,594 17,406
Operating expenses 300,000 300,000 297,555 2,445
Capital outlay - 6,000 5,199 801
Total expenditures 500,000 531,000 510,348 20,652
Fund balances, beginning of year 1,114,688 1,114,688 1,114,688 -
Fund balances, end of year $ 1,164,688 $ 1,258,688 $ 1,263,520 $ 4,832
39
Monroe County, Florida Sheriff
Schedule of Revenues, Expenditures and Changes in Fund Balances
Budget and Actual-Inter-Agency Communications Fund
Year Ended September 30, 2022
Variance
With Final
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Intergovernmental-BOCC $ 207,000 $ 194,500 $ 191,407 $ (3,093)
Charges for services 35,000 35,000 32,180 (2,820)
Investment income 5,000 5,000 1,547 (3,453)
Miscellaneous income - 500 174 (326)
Total revenues 247,000 235,000 225,308 (9,692)
Expenditures:
Operating expense 205,000 225,000 211,891 13,109
Capital outlay 200,000 - - -
Total expenditures 405,000 225,000 211,891 13,109
Excess of revenues over(under)
expenditures (158,000) 10,000 13,417 3,417
Fund balances, beginning of year 200,733 200,733 200,733 -
Fund balances, end of year $ 42,733 $ 210,733 $ 214,150 $ 3,417
40
Monroe County, Florida Sheriff
Schedule of Revenues, Expenditures and Changes in Fund Balances
Budget and Actual—Federal Forfeiture Fund
Year Ended September 30,2022
Variance
With Final
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Intergovernmental—other government units $ - $ - $ 255,937 $ 255,937
Investment income - - - -
Total revenues - - 255,937 255,937
Expenditures:
Current:
Personnel services - 45,000 38,126 6,874
Operating expenses 30,000 50,000 49,148 852
Capital expenses 285,000 265,000 255,786 9,214
Aid to other governments/non-profits 6,255 - - -
Total expenditures 321,255 360,000 343,060 16,940
Excess of revenues over(under)
expenditures (321,255) (360,000) (87,123) 272,877
Other financing sources(uses)
Transfers from Board of County Commissioners 6,245 - - -
Total other financing sources(uses) 6,245 - - -
Fund balances, beginning of year 236,173 236,173 236,173 -
Fund balances,end of year $ (78,837) $ (123,827) $ 149,050 $ 272,877
41
Monroe County, Florida Sheriff
Schedule of Revenues, Expenditures and Changes in Fund Balances
Budget and Actual—E-911
Year Ended September 30, 2022
Variance
With Final
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Intergovernmental— BOCC $ 463,000 $ 574,000 $ 566,678 $ (7,322)
Investment income 20,000 11,000 10,016 (984)
Total revenues 483,000 585,000 576,694 (8,306)
Expenditures:
Current:
Personnel services 350,000 150,000 140,885 9,115
Operating expense 211,000 220,000 207,939 12,061
Capital outlay 500,000 - - -
Total expenditures 1,061,000 370,000 348,824 21,176
Excess of revenues over (under)
expenditures (578,000) 215,000 227,870 12,870
Fund balances, beginning of year 1,237,049 1,237,049 1,237,049 -
Fund balances, end of year $ 659,049 $ 1,452,049 $ 1,464,919 $ 12,870
42
Monroe County, Florida Sheriff
Custodial Funds Description
The purpose of each Custodial fund in the combining financial statement on the following page is
described below.
Bonds Fund — This fund accounts for receipts and disbursements of the monies held by the Sheriff on
behalf of defendants with ongoing court cases.
Inmate Fund— This fund accounts for receipts and disbursements of the monies held by the Sheriff on
behalf of incarcerated inmates.
43
Monroe County, Florida Sheriff
Combining Statement of Fiduciary Net Position
Custodial Funds
September 30, 2022
Total
Bonds Inmate Custodial
Assets
Cash and cash equivalents $ 1,491,953 $ 70,637 $ 1,562,590
Due from others - 4,814 4,814
Total assets $ 1,491,953 $ 75,451 $ 1,567,404
Liabilities
Accounts payable $ - $ 22,110 $ 22,110
Total liabilities $ - $ 22,110 $ 22,110
Net Position:
Restricted for:
Individuals, organizations and
other governments $ 1,491,953 $ 53,341 $ 1,545,294
Total Net Position 1,491,953 53,341 1,545,294
44
Monroe County, Florida Sheriff
Combining Statement of Changes in Fiduciary Net Position
Custodial Funds
September 30, 2022
Total
Bonds Inmate Custodial
Additions:
Payments made to bond accounts $ 1,348,144 $ - $ 1,348,144
Payments made to inmate accounts - 1,197,325 1,197,325
Total additions $ 1,348,144 $ 1,197,325 $ 2,545,469
Deductions:
Payments to depositors $ 1,499,835 $ - $ 1,499,835
Payments of inmate services - 971,254 971,254
Payments of inmate release funds - 246,946 246,946
Total deductions 1,499,835 1,218,200 2,718,035
Net change in fiduciary Net Postion $ (151,691) $ (20,875) $ (172,566)
Net Position, beginning October 1 1,643,644 74,216 1,717,860
Net Position, ending September 30 $ 1,491,953 $ 53,341 $ 1,545,294
45
SUPPLEMENTARY REPORTS
1111�111�11� II�>��IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII
RSM
Report of Independent Auditor on Internal Control over Financial Reporting and on
Compliance and Other Matters Based on an Audit of Financial Statements
Performed in Accordance with Government Auditing Standards
To the Honorable Richard A. Ramsay,
Sheriff of Monroe County, Florida
We have audited, in accordance with the 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 (Government Auditing Standards), the financial
statements of each major fund and the aggregate remaining fund information of the Monroe County,
Florida Sheriff(the Sheriff) as of and for the year ended September 30, 2022, and the related notes to the
financial statements, which collectively comprise the Sheriff's financial statements, and have issued our
report thereon dated February 27, 2023. Our report included an emphasis of matter paragraph to reflect
that these financial statements were prepared to comply with Section 218.39, Florida Statutes, and
Chapter 10.557(3), Rules of the Auditor General for Local Governmental Entity Audits and are intended to
present the financial position and the changes in financial position of the Sheriff and do not represent a
complete presentation of the financial statements of Monroe County, Florida.
Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the Sheriff's internal
control over financial reporting (internal control)as a basis for designing audit procedures that are
appropriate in the circumstances for the purpose of expressing our opinions on the financial statements,
but not for the purpose of expressing an opinion on the effectiveness of the Sheriff's internal control.
Accordingly, we do not express an opinion on the effectiveness of the Sheriff's internal control.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent, or
detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control, such that there is a reasonable possibility that a material
misstatement will not be prevented, or detected and corrected, on a timely basis. A significant deficiency
is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material
weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this
section and was not designed to identify all deficiencies in internal control that might be material
weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any
deficiencies in internal control that we consider to be material weaknesses. However, material
weaknesses or significant deficiencies may exist that have not been identified.
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Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Sheriffs financial statements are free of
material misstatement, we performed tests of its compliance with certain provisions of laws, regulations,
contracts and grant agreements, noncompliance with which could have a direct and material effect on the
financial statements. However, providing an opinion on compliance with those provisions was not an
objective of our audit and, accordingly, we do not express such an opinion. The results of our tests
disclosed no instances of noncompliance or other matters that are required to be reported under
Government Auditing Standards.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance
and the results of that testing, and not to provide an opinion on the effectiveness of the entity's internal
control or on compliance. This report is an integral part of an audit performed in accordance with
Government Auditing Standards in considering the entity's internal control and compliance. Accordingly,
this communication is not suitable for any other purpose.
a.5 up
Fort Lauderdale, Florida
February 27, 2023
47
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RSM
Independent Auditor's Management Letter in Accordance with the
Rules of the Auditor General of the State of Florida
To the Honorable Richard A. Ramsay,
Sheriff of Monroe County, Florida
Report on the Financial Statements
We have audited the financial statements of the Monroe County, Florida, Sheriff(the Sheriff), as of and
for the fiscal year ended September 30, 2022, and have issued our report thereon dated February 27,
2023, which was prepared to comply with State of Florida reporting requirements.
Auditor's 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; and Chapter 10.550, Rules of the Florida Auditor
General.
Other Reporting Requirements
We have issued our Independent Auditor's Report on Internal Control over Financial Reporting and on
Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with
Government Auditing Standards and our Independent Accountant's Report on an examination conducted
in accordance with AICPA Professional Standards, AT-C Section 315, regarding compliance
requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those
reports, which are dated February 27, 2023, should be considered in conjunction with this management
letter.
Prior Audit Findings
Section 10.554(1)(i)l., Rules of the Auditor General, requires that we determine whether or not corrective
actions have been taken to address findings and recommendations made in the preceding annual
financial audit report. No recommendations were made in the preceding audit report.
Official Title and Legal Authority
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 the
management letter, unless disclosed in the notes to the financial statements. The legal authority is
disclosed in Note 1 to the financial statements.
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Financial Management
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.
Additional Matters
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 note any such findings.
Purpose of this Letter
Our management letter is intended solely for the information and use of the Legislative Auditing
Committee, members of the Florida Senate and Florida House of Representatives, the Florida Auditor
General, Federal and other granting agencies, Monroe County, the Sheriff, and applicable management,
and is not intended to be and should not be used by anyone other than these specified parties.
;P-,S,q VS
Fort Lauderdale, Florida
February 27, 2023
49
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RSM
Independent Accountant's Report on Compliance
with Local Government Investment Policies
To the Honorable Richard A. Ramsay,
Sheriff of Monroe County, Florida
We have examined the Monroe County, Florida, Sheriff's (the Sheriffs)compliance with the local
government investment policy requirements of Section 218.415, Florida Statutes, during the period
October 1, 2021 to September 30, 2022. Management of the Sheriff is responsible for the Sheriff's
compliance with the specific requirements. Our responsibility is to express an opinion on the Sheriff's
compliance with the specified requirements based on our examination.
Our examination was conducted in accordance with attestation standards established by the American
Institute of Certified Public Accountants. Those standards require that we plan and perform the
examination to obtain reasonable assurance about whether the Sheriff complied, in all material respects,
with the specified requirements referenced above. An examination involves performing procedures to
obtain evidence about whether the Sheriff complied with the specified requirements. The nature, timing
and extent of the procedures selected depend on our judgment, including an assessment of the risks of
material noncompliance, whether due to fraud or error. We believe that the evidence obtained is sufficient
and appropriate to provide a reasonable basis for our opinion.
Our examination does not provide a legal determination of the Sheriff's compliance with the specified
requirements.
We are required to be independent and to meet our other ethical responsibilities in accordance with
relevant ethical requirements relating to the engagement.
In our opinion, the Sheriff complied, in all material respects, with the aforementioned requirements of
Section 218.415, Florida Statutes, during the period October 1, 2021 to September 30, 2022.
This report is intended solely for the information and use of the Florida Auditor General, the Sheriff's
office, and applicable management and is not intended to be, and should not be, used by anyone other
than these specified parties.
a.5 Up
Fort Lauderdale, Florida
February 27, 2023
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