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Fiscal Year 2023 Monroe County, Florida Sheriff Financial Statements, Required Supplementary Information and other Supplementary Reports As of and for the Year Ended September 30, 2023, and Reports of Independent Auditor Contents INDEPENDENT AUDITOR'S REPORT ................................................................................................... 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 ........................................................................................................................8-22 REQUIRED SUPPLEMENTARY INFORMATION (Unaudited) Schedule of Revenues, Expenditures and Changes in Fund Balances— Budget and Actual—General Fund .................................................................................................................23 Schedule of Revenues, Expenditures and Changes in Fund Balances— Budget and Actual— Major Special Revenue Funds..................................................................................24-27 Note to Required Supplementary Information ...................................................................................................28 OTHER SUPPLEMENTARY INFORMATION Combining Statement of General, Trauma Star, and Radio Communications Funds by Service Area.........................................................................................................29 Non-Major Special Revenue Funds Description ................................................................................................30 Combining Balance Sheet— Non-Major Governmental Funds—Special RevenueFunds...........................................................................................................................................31-33 Combining Statement of Revenues, Expenditures and Changes in Fund Balances— Non-Major Governmental Funds—Special Revenue Funds...................................................34-36 Schedule of Revenues, Expenditures and Changes in Fund Balances— Budget and Actual— Non-Major Special Revenue Funds..........................................................................37-45 CustodialFunds Description...............................................................................................................................46 Combining Statement of Fiduciary Net Position—Custodial Funds ..................................................................47 Combining Statement of Changes in Fiduciary Net Position—Custodial Funds...............................................48 SUPPLEMENTARY REPORTS 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.................................................................................49-50 Management Letter in Accordance with Chapter 10.550, Rules of the Auditor General of the State of Florida....................................................................................................................51-52 Independent Accountant's Report on Compliance with Local Government InvestmentPolicies..........................................................................................................................................53 FINANCIAL STATEMENTS I�I�I�I�IIII � �IIII�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II��II��II�I RSM Independent Auditor's Report RS (JS L.:N F 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, 2023, 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, 2023, 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, 2023, and the changes in its financial position, or, where applicable, its cash flows 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. As discussed in Notes 1 and 12 to the financial statements, the Sheriff adopted Governmental Accounting Standards Board (GASB)Statement No. 96, Subscription-Based Information Technology Arrangements (SBITA), as of October 1, 2022. As a result, a subscription lease liability and related right-of-use assets were recorded in the current period and additional disclosures were added. Our opinions are not modified with respect to this matter. tl°1N; P1 VJI F 0r,"' INEi ht1;I NIINd1011`°FN' O0D 1sR0lledil I"�w,X l I ING 1 wmdw,`iiwM, 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. 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 opinions. 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 is the responsibility of management and, 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. Such 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. The 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 March 27, 2024, on our consideration of the Sheriff's internal control over financial reporting and on 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 Sheriffs internal control over financial reporting and compliance. 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U C t a3 C p0H a yo � > Q > =o aa)i 00)0 -22 w � � .6 � � c Z W N a) C a) )( O C 3 U) a) 0 A OU ~ w E E oc U) � > °� ai m °1 0- ° 0) o °m o �_ °x aa)i � U) U) E Z O w O a) ri rn U x > a) w o N o > w a) a) 0 W LU Z O o o ° 0 3 a n O o 2 () � U) U) 'N O w F- ix w W W 3 0) 0) 2) 0 U) 4 0 ° '6 N 0 O 0 C o o ° U) w Q N N N E O ° U) p O O L Zcr- (6 a) a) C U H O Q� - Q; H U) a) H C C C O H N 4 4 F Q Q Q > � Uii � U � ° UaODa � UQ ° axi :SU) c°i 'n C7 > w w w O w li li MONROE COUNTY, FLORIDA SHERIFF STATEMENT OF FIDUCIARY NET POSITION CUSTODIAL FUNDS SEPTEMBER 30, 2023 Total Custodial ASSETS Cash and cash equivalents $ 1,058,004 Due from others 11,095 Total Assets $ 1,069,099 LIABILITIES Accounts payable $ 26,990 Total Liabilities $ 26,990 NET POSITION Restricted for: Individuals, organizations, and other governments $ 1,042,109 Total Net Position $ 1,042,109 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 YEAR ENDED SEPTEMBER 30, 2023 Total Custodial Additions: Payments made to bond accounts $ 698,213 Payments made to inmate accounts 1,221,213 Total additions $ 1,919,426 Deductions: Payments to depositors $ 1,198,379 Payments of inmate services 978,675 Payments of inmate release funds 245,557 Total deductions $ 2,422,611 Net increase (decrease) in fiduciary net position $ (503,185) Net Position, beginning October 1 1,545,294 Net Position, Ending September 30 $ 1,042,109 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 Article VIII, Section 1(d) of the Constitution of the State of Florida. The Sheriff's 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 Sheriffs 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 (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 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 four Special Revenue Funds as major funds: Trauma Star, 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 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, and the State Forfeiture Fund revenues exceed expenditures is reflected as transfers out and as liabilities due to the Board of County Commissioners. 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. This consists of the following five classifications: non-spendable, restricted, committed, assigned or unassigned. The Sheriff first uses restricted resources, and then committed, followed by assigned and unassigned resources. Non-Spendable Fund Balance — Includes amounts that cannot be spent because they are either not in spendable form, or for legal or contractual reasons, must be kept intact. This classification includes inventory. 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. Florida PRIME is stated at amortized cost, which is substantially the same as fair value, and 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. All cash is insured by the Federal Deposit Insurance Corporation or covered by the State of Florida collateral pool, a multiple financial institution pool with the ability to assess its members for collateral shortfalls if a member institution fails. 9 Monroe County, Florida Sheriff Notes to Financial Statements Note 1. Nature of Operations and Significant Accounting Policies (Continued) 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. 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. Of the balance of $196,442 in the Inmate Fund, $185,347 is deemed uncollectible at September 30, 2023. 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 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 and Subscription-Based Software — The Sheriff is a lessee for noncancellable building and equipment leases. Similarly, the Sheriff has subscription-based information technology arrangements (SBITA)for the right-to-use various information technology software. At the government-wide level, in the governmental activities opinion unit, the County recognizes a lease and SBITA liability and an intangible right-to-use lease asset (lease assets). At the commencement of a lease or SBITA, the Sheriff and the County initially measures the lease and SBITA liability at the present value of payments expected to be made during the lease term, net of any upfront payments made at time of inception of the lease. Subsequently, the lease asset is amortized on a straight-line basis over its useful life. At the fund level, 10 Monroe County, Florida Sheriff Notes to Financial Statements Note 1. Nature of Operations and Significant Accounting Policies (Continued) the Sheriff recognizes an expenditure and other financing source in the period the lease or SBITA is initially recognized. Key estimates and judgments related to leases and SBITA include how the Sheriff and County determines: (1) the discount rate it uses to discount the expected lease and SBITA payments to present value, (2) lease term, and (3) lease or SBITA 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 and SBITA. • The lease term includes the noncancellable period of the lease or SBITA. Lease and SBITA 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. The Sheriff and County monitors changes in circumstances that would require a remeasurement of its lease or SBITA and will remeasure the lease asset and liability if certain changes occur that are expected to significantly affect the amount of the lease or SBITA liability. Lease assets are reported with other capital assets and lease and SBITA 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 or SBITA. 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, 2022, the Sheriff adopted the provisions of GASB Statement No. 96, Subscription-Based Information Technology Arrangements (SBITAs). As a result, the Sheriff's statements now include a footnote that provides the liability for the present value of payments expected to be made and right-to-use intangible assets from SBITA. While the County is responsible for recognizing the Sheriff's associated SBITA liability and any intangible right-to-use information technology software in their government-wide financials statements, Note 12 to the Sheriffs financial statements provides information regarding the Sheriff's SBITAs that relate to the timing, significance, and purpose of its SBITAs. At the time a new SBITA is entered into the Sheriff will report an expenditure and other financing source for the SBITA financing in these fund level financial statements. The following are new accounting pronouncements that have been issued but are not yet effective: 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 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. 11 Monroe County, Florida Sheriff Notes to Financial Statements Note 1. Nature of Operations and Significant Accounting Policies (Continued) 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. 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. GASB Statement No. 102, Credit Risk Disclosures. The State and local governments face a variety of risks that could negatively affect the level of service they provide or their ability to meet obligations as they come due. Although governments are required to disclose information about their exposure to some of those risks, essential information about other risks that are prevalent among state and local governments is not routinely disclosed because it is not explicitly required. The objective of this Statement is to provide users of government financial statements with essential information about risks related to a government's vulnerabilities due to certain concentrations or constraints. This Statement defines a concentration as a lack of diversity related to an aspect of a significant inflow of resources or outflow of resources. A constraint is a limitation imposed on a government by an external party or by formal action of the government's highest level of decision-making authority. Concentrations and constraints may limit a government's ability to acquire 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. 12 Monroe County, Florida Sheriff Notes to Financial Statements Note 2. Deposits and Investments Cash, cash equivalents and investments at September 30, 2023, consist of the following: Deposits and investments: Type Fair Value Demand deposits $ 11,938,173 Florida PRIME 177,332 Certificates of deposit 1,534,649 Money market mutual funds 800,000 Municipal bonds 2,039,982 16,490,136 Petty cash 8,150 Total deposits and investments $ 16,498,286 Cash, cash equivalents and investments at September 30, 2023, are reported in the Balance Sheet and Statement of Net Position as follows: Governmental Custodial Funds Funds Total Cash and cash equivalents $ 11,065,651 $ 1,058,004 $ 12,123,655 Investments 4,374,631 - 4,374,631 Cash, cash equivalents and investments $ 15,440,282 $ 1,058,004 $ 16,498,286 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 $177,332. The bank balance of all demand deposits at September 30, 2023, was $15,188,803. The Sheriff also has petty cash totaling $8,150 as of September 30, 2023. 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. The Municipal Bonds are rated by Standard and Poor's from AA through AA- and the ratings on the Municipal Bonds from Moody's are rated from Aaa through Aa3. The certificates of deposit and money market mutual funds are not rated. 13 Monroe County, Florida Sheriff Notes to Financial Statements Note 2. Deposits and Investments (Continued) 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, 2023, is 36 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, 2023, is 76 days. Investment Type Fair Value 0-1 Year 1 -5 Years 5 Years or more Rating Certificates of deposit $ 1,534,649 $ 1,150,170 $ 384,479 $ - Not Rated Municipal bonds 2,039,982 746,790 989,214 303,978 AA Money market mutual funds 800,000 800,000 - - Not Rated Total $ 4,374,631 $ 2,696,960 $ 1,373,693 $ 303,978 Note 3. Interfund Receivables and Payables Interfund receivables and payables at September 30, 2023, consist of the following: Due From Due to Other Funds Other Funds General $ 1,094,514 $ 568,475 HIDTA - 1,337,250 Grants 395,126 1,021,318 Other governmental 1,475,506 38,103 $ 2,965,146 $ 2,965,146 14 Monroe County, Florida Sheriff Notes to Financial Statements Note 4. Capital Assets A summary of changes in the Sheriff's capital assets, presented in the government-wide financial statements of the County, is as follows which includes GASB 87 leases and GABS 96 SBITA: Balance Balance 10/1/2022 Additions Deductions 09/30/2023 Capital assets not depreciated: Construction in progress $ 38,015 $ 4,226 $ 38,015 $ 4,226 Total capital assets not depreciated $ 38,015 $ 4,226 $ 38,015 $ 4,226 Capital assets depreciated: Buildings/leaseholds $ 3,306,300 $ 4,525 $ 42,800 $ 3,268,025 Right of use-leased assets—buildings 48,815,258 - - 48,815,258 Right of use-leased assets—SBITA software - 261,014 - 261,014 Equipment 56,695,397 4,593,794 2,582,348 58,706,843 Total capital assets depreciated $ 108,816,955 $ 4,859,333 $ 2,625,148 $ 111,051,140 Accumulated depreciation $ 40,596,083 $ 7,503,990 $ 2,427,908 $ 45,672,165 Capital assets, net $ 68,220,872 $ (2,644,657) $ 197,240 $ 65,378,975 The beginning balance of right-to-use leased assets-buildings has been restated to remove a building being leased by the Sheriff from the County for a gun range for a total present value of the lease of $1,188,515, the related lease liability has been adjusted as well in Note 11. This adjustment has been made to make the Sheriff reporting consistent with the County reporting since this is an intra-entity lease that is not reported in the County Government-Wide financial statements. 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 Sheriff's compensated absences obligation is as follows: Compensated Absences Long-term debt, beginning of year $ 8,825,449 Additions 4,039,124 Reductions (3,372,457) Long-term debt, end of year $ 9,492,116 15 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: Teen Court Fund is restricted for monies received to support the teen court program. 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. 16 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. 17 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 $6,155,626, $1,705,512 and $683,789, respectively, for the fiscal year ended September 30, 2023. The Monroe County Sheriff's Office payments for the Pension Plan and the HIS Plan after June 30, 2023, the measurement date used to determine the net pension liability associated with the Pension Plan and HIS Plan, amounted to $2,169,130 and $195,526, 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, 2022, through June 30, 2023, and July 1, 2023, through September 30, 2023, respectively, were as follows: regular members 11.91% and 13.57%, special risk — 27.83% and 32.67%, special risk administrative support — 38.65% and 39.82%, senior management— 31.57% and 34.52% and, county elected officers — 57.00% and 58.68%. During the fiscal year ended September 30, 2023, the Monroe County Sheriffs Office contributed to the plan an amount equal to 24.29% of covered payroll. The state of Florida annually issues a publicly available financial report that includes financial statements and required supplementary information for the FRS. The latest available report may be obtained by writing to the State of Florida Division of Retirement, Department of Management Services, P.O. Box 9000, Tallahassee, Florida 32315-9000, or from the website www.dms.mvflorida.com/workforce operations/retirement/publications. Monroe County Sheriff's 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. 18 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 Sheriff's 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 employee's 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 $7,303 for the year ended September 30, 2023, 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 October 1, 2001, may continue to participate in the OPEB Plan by paying the monthly premium established annually by the Board. An employee who retires as an active participant in the plan, was hired prior to October 1, 2001, has at least ten years of full-time service with the County, and meets the retirement criteria of the FRS but is not eligible for Medicare, may maintain group health insurance benefits with Monroe County following retirement, provided that the retiring employee pays the retiree contributions based on their years of service with Monroe County. Pre-Medicare retirees with at least 25 years of service who satisfy the rule of 70 pay the FRS subsidy for coverage, which is $5 per year of service month with a maximum of$150 per month. For those with 20-24 years of service, the retirees will pay 25% of the actuarial rate, and for those with 10-19 years of service the retirees will pay 50%of the actuarial rate. 19 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 $448,248 for the year ended September 30, 2023. 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 Sheriffs 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 Sheriffs financial position. 20 Monroe County, Florida Sheriff Notes to Financial Statements Note 11. Lease Commitments The Sheriff leases office space and equipment for various terms under certain agreements that meet the definition of a lease under GASB Statement 87. Detailed information about the Sheriff's leases can be found in the government-wide financial statements of the County. Balance Balance 10/1/2022 Additions Deductions 09/30/2023 Lease liability $ 46,178,881 $ - $ (2,891,770) $ 43,287,111 Annual debt service requirements to maturity for lease commitments are as follows: Equipment Principal Interest Total Fiscal Year Ending September 30, 2024 $ 915 $ 8 $ 923 Totals $ 915 $ 8 $ 923 Buildings Principal Interest Total Fiscal Year Ending September 30, 2024 $ 2,993,180 $ 1,261,078 $ 4,254,258 2025 3,107,081 1,166,256 4,273,337 2026 3,221,660 1,071,469 4,293,129 2027 3,340,284 973,190 4,313,474 2028 3,455,456 873,727 4,329,183 2029-2033 18,554,949 2,738,389 21,293,338 2034-2038 7,502,592 524,634 8,027,226 2039-2043 1,110,994 32,431 1,143,425 Totals 43,286,196 8,641,174 51,927,370 Totals $ 43,287,111 $ 8,641,182 $ 51,928,293 The beginning balance of right-to-use leased assets-buildings has been restated to remove a building being leased by the Sheriff from the County for a gun range for a total present value of the lease of $1,188,515, the related lease liability has been adjusted as well, see Note 4 for asset adjustment. This adjustment has been made to make the Sheriff reporting consistent with the County reporting since this is an intra-entity lease that is not reported in the County Government-Wide financial statements. 21 Monroe County, Florida Sheriff Notes to Financial Statements Note 12. Subscription-Based Information Technology Agreement Commitments SBITA Liability Rollforward Balance Balance 10/1/2022 Additions Deductions 09/30/2023 SBITA liability $ - $261,014 $ (120,480) $140,534 Annual debt service requirements to maturity for SBITA commitments are as follows: Principal Interest Total Fiscal Year Ending September 30, 2024 $ 113,071 $ 2,504 $ 115,575 2025 27,463 309 27,772 Totals $ 140,534 $ 2,813 $ 143,347 Note 13. 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 14. Fund Deficit The Grants Fund has a deficit of$358,234 due to the timing of grant reimbursements which resulted in a deferred inflow for unavailable revenues. 22 REQUIRED SUPPLEMENTARY INFORMATION MONROE COUNTY, FLORIDA SHERIFF REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED) SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGETAND ACTUAL- GENERAL FUND YEAR ENDED SEPTEMBER 30, 2023 Variance With Final Original Final Positive Budget Budget Actual (Negative) Revenues: Intergovernmental-BOCC $ 62,457,655 $ 62,207,655 $ 62,207,655 $ - Investment income - - 412,626 412,626 Contributions - - 1,000 1,000 Miscellaneous income - - 387,663 387,663 Total revenues 62,457,655 62,207,655 63,008,944 801,289 Expenditures: Current: Personnel services 49,191,683 45,570,000 44,467,791 1,102,209 Operating expenses 11,841,001 13,299,698 13,180,019 119,679 Debt Service: Principal - 74,000 72,835 1,165 Interest and other charges - 500 331 169 Capital outlay 1,284,971 2,850,000 2,972,487 (122,487) Total expenditures 62,317,655 61,794,198 60,693,463 1,100,735 Excess of revenues over(under) expenditures 140,000 413,457 2,315,481 1,902,024 Other financing sources (uses): Transfer to Board of County Commissioners - (195,000) (2,132,282) (1,937,282) Transfer to other governments - - (153,916) (153,916) Transfers to other funds (140,000) (218,457) (156,474) 61,983 SBITA financing - - 127,191 127,191 Total other financing sources(uses) (140,000) (413,457) (2,315,481) (1,902,024) Excess of revenues over expenditures and other financing sources(uses) - - - - Fund balances, beginning of year - - - - Fund balances, end of year $ See note to required supplementary information 23 MONROE COUNTY, FLORIDA SHERIFF REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED) SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - TRAUMA STAR YEAR ENDED SEPTEMBER 30, 2023 Variance With Final Original Final Positive Budget Budget Actual (Negative) Revenues: Intergovernmental- BOCC $ 5,955,363 $ 5,955,363 $ 5,955,363 $ - Total revenues 5,955,363 5,955,363 5,955,363 - Expenditures: Current: Personnel services 2,082,289 2,082,289 1,815,957 266,332 Operating expense 3,858,074 3,858,074 3,600,732 257,342 Capital outlay 15,000 15,000 - 15,000 Total expenditures 5,955,363 5,955,363 5,416,689 538,674 Excess of revenues over (under) expenditures - - 538,674 538,674 Other financing sources (uses): Transfer to Board of County Commissioners - - (538,674) (538,674) Total other financing sources (uses) - - (538,674) (538,674) Excess of revenues over expenditures and other financing sources (uses) - - - - Fund balances, beginning of year - - - - Fund balances, end of year $ - $ - $ See note to required supplementary information 24 MONROE COUNTY, FLORIDA SHERIFF REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED) SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - HIDTA GRANTS FUND YEAR ENDED SEPTEMBER 30, 2023 Variance With Final Original Final Positive Budget Budget Actual (Negative) Revenues: Intergovernmental-other government units $ 22,365,000 $ 22,750,000 $ 22,709,851 $ (40,149) Total revenues 22,365,000 22,750,000 22,709,851 (40,149) Expenditures: Current: Personnel services 3,930,000 3,815,000 3,805,061 9,939 Operating expenses 17,235,000 13,410,000 13,389,807 20,193 Debt Service: Principal - 2,945,000 2,939,415 5,585 Interest - 1,350,000 1,349,440 560 Capital outlay 1,200,000 1,230,000 1,355,588 (125,588) Total expenditures 22,365,000 22,750,000 22,839,311 (89,311) Excess of revenues over(under)expenditures - - (129,460) (129,460) Other financing sources: SBITA financing - - 129,460 129,460 Total other financing sources - - 129,460 129,460 Excess of revenues and other financing sources over expenditures - - - - Fund balances, beginning of year - - - - Fund balances, end of year $ - $ - $ - $ - See note to required supplementary information 25 MONROE COUNTY, FLORIDA SHERIFF REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED) SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL- GRANTS FUND YEAR ENDED SEPTEMBER 30,2023 Variance With Final Original Final Positive Budget Budget Actual (Negative) Revenues: Intergovernmental-BOCC $ 175,000 $ 180,000 $ 175,247 $ (4,753) Intergovernmental-other government units 908,000 765,000 718,268 (46,732) Total revenues 1,083,000 945,000 893,515 (51,485) Expenditures: Current: Personnel services 675,000 750,000 742,500 7,500 Operating expenses 150,000 200,000 197,620 2,380 Capital outlay 120,000 70,000 60,360 9,640 Total expenditures 945,000 1,020,000 1,000,480 19,520 Excess of revenues over(under)expenditures 138,000 (75,000) (106,965) (31,965) Other financing sources(uses): Transfers to Board of County Commissioners - - (23,846) (23,846) Transfers from other funds - - 140,206 140,206 Total other financing sources(uses) - - 116,360 116,360 Excess of revenues over expenditures and other financing sources(uses) - - 9,395 9,395 Fund balances(deficits), beginning of year (367,629) (367,629) (367,629) - Fund balances(deficits),end of year $ (367,629) $ (367,629) $ (358,234) $ 9,395 See note to required supplementary information 26 MONROE COUNTY, FLORIDA SHERIFF REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED) SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL- SHARED ASSET FORFEITURE FUND YEAR ENDED SEPTEMBER 30, 2023 Variance With Final Original Final Positive Budget Budget Actual (Negative) Revenues: Investment income $ 120,000 $ 160,000 $ 153,578 $ 6,422 Total revenues 120,000 160,000 153,578 6,422 Expenditures: Current: Operating expenses 300 300 111 189 Aid to other governments/non-profits 155,000 120,000 116,970 3,030 Total expenditures 155,300 120,300 117,081 3,219 Excess of revenues over(under)expenditures (35,300) 39,700 36,497 3,203 Fund balances, beginning of year 4,573,389 4,573,389 4,573,389 - Fund balances, end of year $ 4,538,089 $ 4,613,089 $ 4,609,886 $ 3,203 See note to required supplementary information 27 Monroe County, Florida Sheriff Note to Required Supplementary Information 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. 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 expenditure and in the budget to actual schedule they are reported as transfers to other government units for budget purposes since they are not a budgeted item. 28 OTHER SUPPLEMENTARY INFORMATION aO aO (O O M LO M N N 0 0N V N CD (O LO N I� O O O I— O (O O (O Lf) V Lf) cl' O O V cl ' M Cl) N - I— 1— 0) aO (.0V co Cl) Cl) (O Cl) O V (O oO CZ) V V O aO lf7 lf7 O C V Cl) O Lf) (O aO O O O O H O O (O I— N I— N N N (O r— V (O EA 69 N = O aO aO rcr)— V LO N (O (O (O O COV (C LO r— O V V V N (O N N N O O ' O ' O OO O V (O (O M N N N = O O N I— O V 69 69 CO CO I— N O V V V (O (O Lf) co aO I— r— r— +O+ C`') ' ' ' CM O r- (O (O (O ' (C ' Lf) Lf) Lf) O (O aO aO aO CD CO co co O O aO (C V Lf) lf7 7 Lf) Lf) co Lf) f0 ~ EA H4 LO (O O co V U') (O N N N lf7 lf7 N Lf) N O (O V O a2 O r— r— aO r— r— (O ' (O O (O O N N (O N O V (O ' Q i r-� N — I— OO r— co Lf) (O N N co (O N LU +O+ y O aO O (o LO V (O V M lf7 lf7 V N V coO V N aO lf7 V � V QH a) N co V co N CD N C14 � N W U_ 69 69 (O (O O co Lf) V O (O O Lf) O lf7 lf7 LU N CD N (O (O V r— lf7 aO I— Lf) (n (O O (O V aO V O N (O V >- i N N I� CM Lf) N M N — V (O m y I— aO P V (O aO O aO N lf7 aO = aO V co (O co (O O aO O (n G) N (Y I— N N -- co Lf) z � EA 69 Ll z +O+ O O V O Lf) O O O O (O O O LO V V V (O (O (O O p C`') C`') N lf7 P- P- P- F— O" 000 00 (O Lf) co LO Cco co co D CD CD U V7 V7 M V N c c a) C C CO 0') 0') � O CO CO co O O O oc O O O O U .s o o c c co co CD O o 0 O i (O N O _ m N N N o 2 Q EA H4 aO aO N V Lf) r— F Q f0 aO ' ' ' OO (C V I� OO O ' O O ' O O O O (O I— N N N O (O (O O N lf7 I— aO aO aO E N N O(V N (n N cQ Ef4 EA C Q F- J 6L Q I.L N i N W O N Lu z 7 7 LU Vf (D M U) Q Q C Q axi E 0)) 0)) E N i LU a) LL W U co N i .oOcl ) ) > U) oLoZ O a) U) 0O c o cn W c O a�i L Q •� N m a`> a`> w '(i a cu Q a) a) c) U) c o — c (� z a) c o N Q > CO o o W W c g a) > a) c 'c� o 0 0 a) _ 0 0 m O z ai � 0) O a)o E o m owww U m m ti C ` NZ 0 O QU U 0 m c c ui C U j Of LU LU 0 LU Li Li Z 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. Radio Communication Fund — This 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. 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. 30 MONROE COUNTY,FLORIDA SHERIFF COMBINING BALANCE SHEET- NON-MAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS SEPTEMBER 30,2023 Law Radio Enforcement Communications Teen Court Trust Fund ASSETS Cash and cash equivalents $ 12,046 $ $ 110 Due from Board of County Commissioners - - Due from other funds 32,749 Due from governmental units 5,369 Due from others - - Total assets $ 12,046 $ 38,118 $ 110 LIABILITIES AND FUND BALANCES Liabilities: Accounts payable $ - $ - $ - Accrued wages and benefits payable - Due to Board of County Commissioners 12,046 3 Due to other governmental units - - Due to other funds 107 Unearned revenues - Total liabilities 12,046 110 Fund balances,restricted: Law Enforcement Programs - - - Teen court program 38,118 Inter-agency communication program - Inmate welfare program Farm program E-911 programs Fund balances,committed: Contract administration - Total fund balances - 38,118 Total liabilities,deferred inflows of resources and fund balances $ 12,046 $ 38,118 $ 110 31 MONROE COUNTY, FLORIDA SHERIFF COMBINING BALANCE SHEET- NON-MAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS SEPTEMBER 30, 2023 State Contract Forfeiture Administrative Commissary ASSETS Cash and cash equivalents $ 28,696 $ - $ 1,512,429 Due from Board of County Commissioners - - - Due from other funds 107 1,435,907 6,743 Due from governmental units - 93,630 - Due from others - - 59,077 Total assets $ 28,803 $ 1,529,537 $ 1,578,249 LIABILITIES AND FUND BALANCES Liabilities: Accounts payable $ - $ - $ 8,374 Accrued wages and benefits payable - - 5,237 Due to Board of County Commissioners 28,803 9,906 - Due to other governmental units - 315 50,047 Due to other funds - 18,471 16,221 Unearned revenues - 48,650 - Totalliabilities 28,803 77,342 79,879 Fund balances,restricted: Law Enforcement Programs - - - Teen court program - - - Inter-agency communication program - - - Inmate welfare program - - 1,388,455 Farm program - - 109,915 E-911 programs - - - Fund balances,committed: Contract administration - 1,452,195 - Total fund balances - 1,452,195 1,498,370 Total liabilities,deferred inflows of resources and fund balances $ 28,803 $ 1,529,537 $ 1,578,249 32 MONROE COUNTY,FLORIDA SHERIFF COMBINING BALANCE SHEET-NON-MAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS SEPTEMBER 30,2023 Nonmajor Inter-Agency Federal Special Revenue Communications Forfeiture E-911 Funds ASSETS Cash and cash equivalents $ 82,203 $ 995 $ 1,589,809 $ 3,226,288 Due from Board of County Commissioners 14,884 2,773 43,593 61,250 Due from other funds - - - 1,475,506 Due from governmental units 77 - 99,076 Due from others 6,748 - 65,825 Total assets $ 103,912 $ 3,768 $ 1,633,402 $ 4,927,945 LIABILITIES AND FUND BALANCES Liabilities: Accounts payable $ 3,354 $ - $ 6,789 $ 18,517 Accrued wages and benefits payable - - 3,129 8,366 Due to Board of County Commissioners 995 1,764 53,517 Due to other governmental units - - - 50,362 Due to other funds 531 2,773 38,103 Unearned revenues - 48,650 Total liabilities 3,885 3,768 11,682 217,515 Fund balances,restricted: Law Enforcement Programs - - - - Teen court program - 38,118 Inter-agency communication program 100,027 100,027 I nmate welfare program - 1,388,455 Farm program - 109,915 E-911 programs 1,621,720 1,621,720 Fund balances,committed: Contract administration 1,452,195 Total fund balances 100,027 - 1,621,720 4,710,430 Total liabilities,deferred inflows of resources and fund balances $ 103,912 $ 3,768 $ 1,633,402 $ 4,927,945 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, 2023 Law Radio Enforcement Communications Teen Court Trust Fund Revenues: Intergovernmental-BOCC $ 980,130 $ $ 7,390 Intergovernmental-other government units - - Charges for services 63,118 63,138 Fines and forfeitures - - - Investment income 107 Miscellaneous - - - Total revenues 1,043,248 63,138 7,497 Expenditures: Current: Personnel services 265,673 30,846 - Operating expenses 764,254 2,113 5,497 Capital outlay 1,275 - - Aid to other governments/non-profits - - 2,000 Total expenditures 1,031,202 32,959 7,497 Excess of revenues over (under)expenditures 12,046 30,179 - Other financing sources(uses): Transfers from other funds - - Transfer to Board of County Commissioners (12,046) Total other financing sources(uses) (12,046) Excess of revenues over expenditures and other financing sources(uses) 30,179 Fund balances,beginning of year 7,939 Fund balances,end of year $ $ 38,118 $ 34 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, 2023 State Contract Forfeiture Administrative Commissary Revenues: Intergovernmental-BOCC $ $ - $ Intergovernmental-other government units 1,472,113 - Charges for services 4,323,740 756,065 Fines and forfeitures 37,857 - - Investment income 945 39,956 45,424 Miscellaneous income - - 47,600 Total revenues 38,802 5,835,809 849,089 Expenditures: Current: Personnel services - 4,899,892 189,451 Operating expenses 10,000 617,483 376,211 Capital outlay - 107,028 48,577 Aid to other governments/non-profits - 6,000 - Total expenditures 10,000 5,630,403 614,239 Excess of revenues over(under) expenditures 28,802 205,406 234,850 Other financing sources(uses): Transfers from other funds - 16,268 - Transfer to Board of County Commissioners (28,802) - Total other financing sources(uses) (28,802) 16,268 - Excess of revenues over expenditures and other financing sources(uses) 221,674 234,850 Fund balances,beginning of year 1,230,521 1,263,520 Fund balances,end of year $ $ 1,452,195 $ 1,498,370 35 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, 2023 Total Nonmajor Inter-Agency Federal Special Revenue Communications Forfeiture E-911 Funds Revenues: Intergovernmental-BOCC $ 191,853 $ - $ 555,116 $ 1,734,489 Intergovernmental-other government units - 197,088 - 1,669,201 Charges for services 22,086 - 5,228,147 Fines and forfeitures - - 37,857 Investment income 3,748 51,901 142,081 Miscellaneous income - - - 47,600 Total revenues 217,687 197,088 607,017 8,859,375 Expenditures: Current: Personnel services - 45,366 153,967 5,585,195 Operating expenses 331,810 69,770 272,158 2,449,296 Capital outlay - 231,002 24,091 411,973 Aid to other govern mentslnon-profits - - - 8,000 Total expenditures 331,810 346,138 450,216 8,454,464 Excess of revenues over(under) expenditures (114,123) (149,050) 156,801 404,911 Other financing sources(uses): Transfers from other funds - 16,268 Transfer to Board of County Commissioners (40,848) Total other financing sources(uses) - (24,580) Excess of revenues over expenditures and other financing sources(uses) (114,123) (149,050) 156,801 380,331 Fund balances,beginning of year 214,150 149,050 1,464,919 4,330,099 Fund balances,end of year $ 100,027 $ - $ 1,621,720 $ 4,710,430 36 MONROE COUNTY, FLORIDA SHERIFF SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - RADIO COMMUNICATIONS YEAR ENDED SEPTEMBER 30, 2023 Variance With Final Original Final Positive Budget Budget Actual (Negative) Revenues: Intergovernmental-BOCC $ 793,248 $ 1,043,248 $ 980,130 $ (63,118) Charges for services - - 63,118 63,118 Total revenues 793,248 1,043,248 1,043,248 - Expenditures: Current: Personnel services 226,220 271,220 265,673 5,547 Operating expense 559,028 770,528 764,254 6,274 Capital outlay 8,000 1,500 1,275 225 Total expenditures 793,248 1,043,248 1,031,202 12,046 Excess of revenues over(under) expenditures - - 12,046 12,046 Other financing sources(uses): Transfer to Board of County Commissioners - - (12,046) (12,046) Total other financing sources(uses) - - (12,046) (12,046) 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 - TEEN COURT FUND YEAR ENDED SEPTEMBER 30, 2023 Variance With Final Original Final Positive Budget Budget Actual (Negative) Revenues: Charges for services $ 60,000 $ 65,000 $ 63,138 $ (1,862) Total revenues 60,000 65,000 63,138 (1,862) Expenditures: Current: Personnel services 52,000 35,000 30,846 4,154 Operating expense 3,000 3,000 2,113 887 Total expenditures 55,000 38,000 32,959 5,041 Excess of revenues over(under)expenditures 5,000 27,000 30,179 3,179 Fund balances, beginning of year 7,939 7,939 7,939 - Fund balances,end of year $ 12,939 $ 34,939 $ 38,118 $ 3,179 38 MONROE COUNTY, FLORIDA SHERIFF SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - LAW ENFORCEMENT TRUST FUND YEAR ENDED SEPTEMBER 30, 2023 Variance With Final Original Final Positive Budget Budget Actual (Negative) Revenues: Intergovernmental-BOCC $ 8,945 $ 7,497 $ 7,390 $ (107) Investment income - - 107 107 Total revenues 8,945 7,497 7,497 - Current: Operating expense 5,445 5,497 5,497 - Aid to other governments/non-profits 3,500 2,000 2,000 - Total expenditures 8,945 7,497 7,497 - Excess of revenues over(under)expenditures - - - - Fund balances, beginning of year - - - - Fund balances, end of year $ - $ - $ - $ - 39 MONROE COUNTY, FLORIDA SHERIFF SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BUDGET AND ACTUAL - STATE FORFEITURE FUND YEAR ENDED SEPTEMBER 30, 2023 Variance With Final Original Final Positive Budget Budget Actual (Negative) Revenues: Fines and forfeitures $ 62,000 $ 40,000 $ 37,857 $ (2,143) Investment income 1,000 1,500 945 (555) Total revenues 63,000 41,500 38,802 (2,698) Expenditures: Current: Operating expenses - 12,000 10,000 2,000 Total expenditures - 12,000 10,000 2,000 Excess of revenues over(under) expenditures 63,000 29,500 28,802 (698) Other financing uses: Transfer to Board of County Commissioners (63,000) (29,500) (28,802) 698 Total other financing uses (63,000) (29,500) (28,802) 698 Excess of revenues over expenditures and other financing sources(uses) - - - - Fund balances, beginning of year - - - - Fund balances, end of year $ - $ - $ - $ - 40 MONROE COUNTY, FLORIDA SHERIFF SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BUDGET AND ACTUAL - CONTRACT ADMINISTRATIVE FUND YEAR ENDED SEPTEMBER 30, 2023 Variance With Final Original Final Positive Budget Budget Actual (Negative) Revenues: Intergovernmental-other governmental units $ 1,305,000 $ 1,490,000 $ 1,472,113 $ (17,887) Charges for services 3,610,000 4,335,000 4,323,740 (11,260) Investment income 10,000 40,000 39,956 (44) Total revenues 4,925,000 5,865,000 5,835,809 (29,191) Expenditures: Current: Personnel 4,405,000 4,905,000 4,899,892 5,108 Operating expenses 575,000 625,000 617,483 7,517 Capital expenses 52,000 110,000 107,028 2,972 Aid to other governments/non-profits 5,000 6,000 6,000 - Transfer 1,150 - - - Total expenditures 5,038,150 5,646,000 5,630,403 15,597 Excess of revenues over(under) expenditures (113,150) 219,000 205,406 (13,594) Other financing sources: Transfers from other funds - - 16,268 16,268 Total other financing sources - - 16,268 16,268 Excess of revenues over expenditures and other financing sources(uses) (113,150) 219,000 221,674 2,674 Fund balances, beginning of year 1,230,521 1,230,521 1,230,521 - Fund balances, end of year $ 1,117,371 $ 1,449,521 $ 1,452,195 $ 2,674 41 MONROE COUNTY, FLORIDA SHERIFF SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BUDGET AND ACTUAL - COMMISSARY FUND YEAR ENDED SEPTEMBER 30, 2023 Variance With Final Original Final Positive Budget Budget Actual (Negative) Revenues: Charges for services $ 624,000 $ 760,000 $ 756,065 $ (3,935) Investment income 9,000 50,000 45,424 (4,576) Miscellaneous income 42,000 50,000 47,600 (2,400) Total revenues 675,000 860,000 849,089 (10,911) Expenditures: Current: Personnel expenses 225,000 200,000 189,451 10,549 Operating expenses 300,000 380,000 376,211 3,789 Capital outlay 100,000 50,000 48,577 1,423 Total expenditures 625,000 630,000 614,239 15,761 Excess of revenues over(under) expenditures 50,000 230,000 234,850 4,850 Fund balances, beginning of year 1,263,520 1,263,520 1,263,520 - Fund balances, end of year $ 1,313,520 $ 1,493,520 $ 1,498,370 $ 4,850 42 MONROE COUNTY, FLORIDA SHERIFF SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - INTER-AGENCY COMMUNICATIONS FUND YEAR ENDED SEPTEMBER 30, 2023 Variance With Final Original Final Positive Budget Budget Actual (Negative) Revenues: Intergovernmental-BOCC $ 194,500 $ 200,000 $ 191,853 $ (8,147) Charges for services 35,000 30,000 22,086 (7,914) Investment income 5,500 5,000 3,748 (1,252) Total revenues 235,000 235,000 217,687 (17,313) Expenditures: Operating expense 225,000 355,000 331,810 23,190 Capital outlay 200,000 - - - Total expenditures 425,000 355,000 331,810 23,190 Excess of revenues over(under) expenditures (190,000) (120,000) (114,123) 5,877 Fund balances, beginning of year 214,150 214,150 214,150 - Fund balances, end of year $ 24,150 $ 94,150 $ 100,027 $ 5,877 43 MONROE COUNTY, FLORIDA SHERIFF SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - FEDERAL FORFEITURE FUND YEAR ENDED SEPTEMBER 30, 2023 Variance With Final Original Final Positive Budget Budget Actual (Negative) Revenues: Intergovernmental-other government units $ - $ - $ 197,088 $ 197,088 Total revenues - - 197,088 197,088 Expenditures: Current: Personnel services 45,000 50,000 45,366 4,634 Operating expenses 50,000 75,000 69,770 5,230 Capital expenses 265,000 265,000 231,002 33,998 Total expenditures 360,000 390,000 346,138 43,862 Excess of revenues over(under) expenditures (360,000) (390,000) (149,050) 240,950 Fund balances, beginning of year 149,050 149,050 149,050 - Fund balances,end of year $ (210,950) $ (240,950) $ - $ 240,950 44 MONROE COUNTY, FLORIDA SHERIFF SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BUDGET AND ACTUAL - E-911 YEAR ENDED SEPTEMBER 30, 2023 Variance With Final Original Final Positive Budget Budget Actual (Negative) Revenues: Intergovernmental-BOCC $ 574,000 $ 565,000 $ 555,116 $ (9,884) Investment income 11,000 55,000 51,901 (3,099) Total revenues 585,000 620,000 607,017 (12,983) Expenditures: Current: Personnel services 150,000 165,000 153,967 11,033 Operating expense 220,000 285,000 272,158 12,842 Capital outlay 200,000 30,000 24,091 5,909 Total expenditures 570,000 480,000 450,216 29,784 Excess of revenues over(under) expenditures 15,000 140,000 156,801 16,801 Fund balances, beginning of year 1,464,919 1,464,919 1,464,919 - Fund balances, end of year $ 1,479,919 $ 1,604,919 $ 1,621,720 $ 16,801 45 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. 46 MONROE COUNTY, FLORIDA SHERIFF COMBINING STATEMENT OF FIDUCIARY NET POSITION CUSTODIAL FUNDS SEPTEMBER 30, 2023 Total Bonds Inmate Custodial ASSETS Cash and cash equivalents $ 991,787 $ 66,217 $ 1,058,004 Due from others - 11,095 11,095 Total Assets $ 991,787 $ 77,312 $ 1,069,099 LIABILITIES Accounts payable $ - $ 26,990 $ 26,990 Total Liabilities $ - $ 26,990 $ 26,990 NET POSITION Restricted for: Individuals, organizations, and other governments $ 991,787 $ 50,322 $ 1,042,109 Total Net Position $ 991,787 $ 50,322 $ 1,042,109 47 MONROE COUNTY, FLORIDA SHERIFF COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION CUSTODIAL FUNDS YEAR ENDED SEPTEMBER 30, 2023 Total Bonds Inmate Custodial Additions: Payments made to bond accounts $ 698,213 $ - $ 698,213 Payments made to inmate accounts - 1,221,213 1,221,213 Total additions $ 698,213 $ 1,221,213 $ 1,919,426 Deductions: Payments to depositors $ 1,198,379 $ - $ 1,198,379 Payments of inmate services - 978,675 978,675 Payments of inmate release funds - 245,557 245,557 Total deductions $ 1,198,379 $ 1,224,232 $ 2,422,611 Net increase (decrease) in fiduciary net position $ (500,166) $ (3,019) $ (503,185) Net Position, beginning October 1 1,491,953 53,341 1,545,294 Net Position, Ending September 30 $ 991,787 $ 50,322 $ 1,042,109 48 SUPPLEMENTARY REPORTS I�I�I�I�IIII � �IIII�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II��II��II�I RSM 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 Independent Auditor's Report 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, 2023, and the related notes to the financial statements, which collectively comprise the Sheriffs financial statements, and have issued our report thereon dated March 27, 2024. 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. Our report also included an emphasis of matter paragraph related to the implementation of Governmental Accounting Standards Board (GASB) Statement No. 96, Subscription-Based Information Technology Arrangements, as of October 1, 2022. Report on 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 Sheriffs internal control. Accordingly, we do not express an opinion on the effectiveness of the Sheriffs internal control. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were not identified. t 4I; POV I F Or,°' I ,"III t; I IINdi0 I`°h t'�t�I� 1AJ I i l I"�,X l I lJG 49 wmdw,`iiwM, Report on Compliance and Other Matters As part of obtaining reasonable assurance about whether the Sheriffs financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. 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. Fort Lauderdale, Florida March 27, 2024 50 I�I�I�I�IIII � �IIII�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II��II��II�I RSM Management Letter in Accordance with Chapter 10.550, 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, 2023, and have issued our report thereon dated March 27, 2024, 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 March 27, 2024, 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 annual financial 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. 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. 114I; POVJI R Cr,"' 0 I I,"IKM I II N 0)I`°hI I I°I0D� 1AJ I edi l I"�,X l I 51 wmdw,`iiwM, 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. Fort Lauderdale, Florida March 27, 2024 52 I�I�I�I�IIII � �IIII�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II�II��II��II�I 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 Sheriff) compliance with the local government investment policy requirements of Section 218.415, Florida Statutes, (the specified requirements)during the period October 1, 2022, to September 30, 2023. Management of the Sheriff is responsible for the Sheriff's compliance with the specified 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 Sheriffs 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, 2022, to September 30, 2023. This report is intended solely for the information and use of the Florida Auditor General, the Sheriffs office, and applicable management and is not intended to be, and should not be, used by anyone other than these specified parties. as z4p Fort Lauderdale, Florida March 27, 2024 714E POV I F Or,"' ONNiIN4G NIINdi0)E'R 00D� 1AJ I i l I"�w,X NI 53 wmdw,`iiwM,