Fiscal Year 2023 Monroe County, Florida
Supervisor of Elections
Financial Statements, Required Supplementary
Information and 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—general fund 4
Statement of revenues, expenditures and changes in fund balance—general fund 5
Notes to financial statements 6-14
Required supplementary information (unaudited)
Schedule of revenues, expenditures and changes in fund balance—budget and actual —
general fund 15
Note to required supplementary information 16
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 17-18
Management letter in accordance with chapter 10.550, rules of the auditor general of
the State of Florida 19-20
Report of independent accountant's report on compliance with local government
investment policies 21
1111�111�11� II�>��IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII
RSM
Independent Auditor's Report
To the Honorable Joyce Griffin,
Supervisor of Elections of Monroe County, Florida
Report on the Audit of the Financial Statements
Opinion
We have audited the financial statements of the major fund of the Monroe County, Florida Supervisor of
Elections (the Supervisor), as of and for the year ended September 30, 2023, and the related notes to the
financial statements, which collectively comprise the Supervisor'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 the major fund of the Supervisor 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 Opinion
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 Supervisor
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 opinion.
Emphasis of Matter
Basis of Presentation
As discussed in Note 1, the accompanying financial statements of the Supervisor of Elections 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 their financial position and, where applicable, cash flows thereof for the year then ended, in conformity
with accounting principles generally accepted in the United States of America. Our opinion is not modified
with respect to this matter.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in
accordance with accounting principles generally accepted in the United States of America, and for the
design, implementation and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
P O Vifl,,.R (31° V h E alIA3 d.A 14 D E R 0()N.1
/1<<JJ bl1 iA X l C N f lS Luf ifI'q(.:,I
1
f"�r✓ ili ;II- r;vF ,Al,I Li 'A le U".[a I IJ;i'% ;f ,I,I�aI ry,ra il.a�f I�1 r3, 0,r60 n,�,i�l ,ii9.ir,,,f ✓.c, mw.rI, a "'i1 i;h�:
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance
and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government
Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a
material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve
collusion, forgery, intentional omissions, misrepresentations or the override of internal control.
Misstatements are considered material if there is a substantial likelihood that, individually or in the
aggregate, they would influence the judgment made by a reasonable user based on the financial
statements.
In performing an audit in accordance with GAAS and Government Auditing Standards, we
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, and design and perform audit procedures responsive to those risks. Such procedures
include examining, on a test basis, evidence regarding the amounts and disclosures in the financial
statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Supervisor'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 the budgetary
comparison schedule 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
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 Supervisor'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 Supervisor'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 Supervisor's internal control over financial reporting and compliance.
Fort Lauderdale, Florida
March 27, 2024
3
FINANCIAL STATEMENTS
Monroe County, Florida
Supervisor of Elections
Balance Sheet
General Fund
September 30, 2023
Assets
Cash $ 791,232
Prepaid items 103,118
Total assets $ 894,350
Liabilities and Fund Balances
Liabilities:
Accounts payable $ 7,510
Accrued wages and benefits payable 36,044
Due to Board of County Commissioners 850,796
Total liabilities 894,350
Fund balances:
Nonspendable 103,118
Unassigned (103,118)
Total fund balances -
Total liabilities and fund balances $ 894,350
The accompanying notes to the financial statements are an integral part of this statement.
4
Monroe County, Florida
Supervisor of Elections
Statement of Revenues, Expenditures and Changes in
Fund Balance—General Fund
Year Ended September 30, 2023
Revenues:
Intergovernmental:
Board of County Commissioners $ 2,805,290
Miscellaneous 4,111
Investment income 5,851
Total revenues 2,815,252
Expenditures:
Current:
Personnel services 1,172,382
Operating expenditures 708,949
Debt service:
Principal 40,029
Interest 58
Capital outlay 123,408
Total expenditures 2,044,826
Excess of revenues over expenditures 770,426
Other financing sources (uses):
Transfer to Board of County Commissioners (850,796)
Lease financing 80,370
Total other financing sources (uses) (770,426)
Net change in fund balance -
Fund balance, beginning of year -
Fund balance, end of year $ -
The accompanying notes to the financial statements are an integral part of this statement.
5
Monroe County, Florida
Supervisor of Elections
Notes to the Financial Statements
Note 1. Nature of Entity and Significant Accounting Policies
Financial Reporting Entity—The Monroe County, Florida Supervisor of Elections (the Supervisor) is a
separately elected county official established pursuant to Article VIII, Section 1(d)of the Constitution of
the State of Florida. These financial statements present only the Supervisor's Office and 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 Supervisor have been prepared in accordance with the accounting
principles and reporting guidelines established by the Governmental Accounting Standards Board
(GASB).
Entity status for financial reporting purposes is governed by Statement No. 14, as amended. Although the
Supervisor of Elections' office is operationally autonomous, it does not hold sufficient corporate powers of
its own to be considered a legally separate entity for financial reporting purposes. Therefore, under GASB
guidelines, the Supervisor is reported as part of the primary government of Monroe County, Florida. The
financial activities of the Supervisor, 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 Supervisor
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, which require the Supervisor to only present special
purpose fund financial statements.
The General Fund is used to account for all revenues and expenditures applicable to the general
operations of the Supervisor that are not legally required or by accounting principles generally accepted in
the United States of America (U.S. GAAP)to be accounted for in another fund. The General Fund is a
governmental fund which uses the current financial resources measurement focus and the modified
accrual basis of accounting. Revenues are recognized when measurable and available. Revenues are
considered to be available when they are collectible within the current period or soon enough thereafter to
pay liabilities of the current period. For this purpose, the Supervisor considers amounts collected within
60 days after year-end to be available and thus recognizes them as revenues of the current year.
Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However,
expenditures related to compensated absences, debt service including leases, pension and other post-
employment benefits and claims and judgments are recorded only when they are due and payable.
The extent to which General Fund revenues exceed General Fund expenditures is reflected as transfers
out and as liabilities to the Monroe County Board of County Commissioners (the Board).
Cash—The Supervisor's cash consists of demand deposits.All cash is insured by the Federal Deposit
Insurance Corporation or covered by the State of Florida collateral pool, a multiple financial institution
pool with the ability to assess its members for collateral shortfalls if a member institution fails.
Prepaid Items—Certain payments to vendors reflect costs applicable to future accounting periods and are
recorded as prepaid items. The cost of prepaid inventory and supplies is recorded as an expenditure at the
time it is acquired,which is in accordance with the purchase method.At year-end the balance of prepaid
items is recorded as an asset of the fund with a corresponding non-spendable or restricted fund balance
6
Monroe County, Florida
Supervisor of Elections
Notes to the Financial Statements
Note 1. Nature of Entity and Significant Accounting Policies (Continued)
Capital Assets—Tangible personal property used in the Supervisor's operations is recorded as expenditures
in the General Fund at the time assets are received and a liability is incurred. Purchased assets are
capitalized at historical cost in the government-wide financial statements of the County. In addition, the
County provides office space used by the Supervisor at no charge.
Compensated Absences—The Supervisor permits employees to accumulate earned but unused vacation
and sick pay benefits. The Supervisor 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. Related long-term obligations, amounting to
$42,669 at September 30, 2023, are included in the government-wide financial statements of the County.
Fund Balance Presentation— In accordance with GASB Statement No. 54, the fund balances of the
governmental funds indicate the level of constraints placed upon how resources can be spent and identify
the sources of those constraints. 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 Supervisor 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 prepaid items.
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
Supervisor. There were no committed balances at year end.
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 Supervisor.
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.
7
Monroe County, Florida
Supervisor of Elections
Notes to the Financial Statements
Note 1. Nature of Entity and Significant Accounting Policies (Continued)
Leases—The Supervisor is a lessee for noncancellable building and equipment leases. At the
government-wide level, in the governmental activities opinion unit, the County recognizes a lease liability
and an intangible right-to-use lease asset (lease asset). At the commencement of a lease, the Supervisor
and the County initially measures the lease liability at the present value of payments expected to be made
during the lease term. Subsequently, the lease asset is amortized on a straight-line basis over its useful
life. At the fund level, the Supervisor recognizes an expenditure and other financing source in the period
the lease is initially recognized.
Key estimates and judgments related to leases include how the Supervisor and County determines: (1)
the discount rate it uses to discount the expected lease payment to present value, (2) lease term, and (3)
lease payments.
• The Supervisor 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 Supervisor and County generally
use its estimated incremental borrowing rate as the discount rate for the leases.
• The lease term includes the noncancellable period of the lease. Lease payments include the
measurement of the lease liability and are composed of the fixed payments and purchase option
price that the Supervisor and County is reasonably certain to exercise.
New Accounting Pronouncement— Effective October 1, 2022, the Supervisor adopted the provisions of
GASB Statement No. 96, Subscription-Based Information Technology Arrangements (SBITA). The
objective of this statement is to better meet the informational needs of financial statement users by
improving accounting and financial reporting for SBITA by governments. The adoption of this statement
did not affect beginning fund balance and there were no SBITA held by the Supervisor that require
reporting under GASB No. 96.
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.
8
Monroe County, Florida
Supervisor of Elections
Notes to the Financial Statements
Note 1. Nature of Entity 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 resources or control spending. Effective Date: The requirements of this
Statement are effective for fiscal years beginning after June 15, 2024, and all reporting periods thereafter.
Management is in the process of determining what impact, if any, implementation of the above
statements may have on the financial statements of the Supervisor.
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.
Subsequent Events—The Supervisor has evaluated subsequent events through March 27, 2024, in
connection with the preparation of these financial statements, which is the date the financial statements
were available to be issued.
9
Monroe County, Florida
Supervisor of Elections
Notes to the Financial Statements
Note 2. Deposits and Investments
The Supervisor follows Florida Statutes for its investment policy, which authorizes investments in
certificates of deposit, savings accounts, repurchase agreements, the Local Government Surplus Funds
Trust Fund administered by the Florida State Board of Administration, and obligations of the U.S.
government and government agencies unconditionally guaranteed by the U.S. government.
At September 30, 2023, the Supervisor of Elections has demand deposits with a carrying amount of
$791,232 and a bank balance of$844,550.
Note 3. Retirement System
Plan Description—The Supervisor'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.
Benefits under the Pension Plan are computed on the basis of age, average final compensation, and
service credit. For Pension Plan members enrolled before July 1, 2011, Regular class members who
retire at or after age 62 with at least six years of credited service, or 30 years of service regardless of age
are entitled to a retirement benefit payable monthly for life, equal to 1.60% of their final average
compensation based on the five highest years of salary, for each year of credited service. Vested
members with less than 30 years of service may retire before age 62 and receive reduced retirement
benefits. Senior Management Service class members who retire at or after age 62 with at least six years
of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable
monthly for life, equal to 2.00% of their final average compensation based on the five highest years of
salary for each year of credited service. Elected 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 3.00% (3.33% for judges and justices)of their final average
compensation based on the five highest years of salary for each year of credited service. Substantial
changes were made to the Pension Plan during fiscal year 2011, affecting new members enrolled on or
after July 1, 2011, by extending the vesting requirement to eight years of credited service and increasing
normal retirement to age 65 or 33 years of service regardless of age. Also, the final average
compensation for these members is based on the eight highest years of salary.
10
Monroe County, Florida
Supervisor of Elections
Notes to the Financial Statements
Note 3. Retirement System (Continued)
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.
For those members who elect participation in the Investment Plan, rather than the Pension Plan, vesting
occurs at one year of service. These participants receive a contribution for self-direction in an investment
product with a third-party administrator selected by the State Board of Administration. Employer and
employee contributions, including amounts contributed to individual 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 0.06%of payroll and by forfeited benefits of plan members.
The Supervisor recognizes pension expenditures in an amount equal to amounts paid to the Pension Plan,
the HIS Plan, and the defined contribution plan amounting to $147,265, $15,631 and $8,638 respectively,
for the fiscal year ended September 30, 2023. The Supervisor's 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 $38,409 and $4,254, respectively. The
Supervisor 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 Pension Plan are required to contribute 3.00% of their
salary to the FRS. In addition to member contributions, governmental employers are required to make
contributions to the FRS based on state-wide contribution rates. The employer contribution rates by job
class for the periods from October 1, 2022, through June 30, 2023, and July 1, 2023, through
September 30, 2023, respectively, were as follows: regular— 11.91% and 13.57%; county elected officers
—57.00% and 58.68%; senior management—31.57% and 34.52%; and DROP participants— 18.60% and
21.13%. During the fiscal year ended September 30, 2023, the Supervisor contributed to the plan an
amount equal to 24.6% of covered payroll which totaled approximately$697,000.
11
Monroe County, Florida
Supervisor of Elections
Notes to the Financial Statements
Note 3. Retirement System (Continued)
The state of Florida annually issues a publicly available financial report that includes financial statements
and required supplementary information for the FRS. The latest available report may be obtained by
writing to the state of Florida Division of Retirement, Department of Management Services, P.O. Box
9000, Tallahassee, Florida 32315-9000. That report may be viewed on the Florida Department of
Management Services website located at
www.dms.myflorida.com/workforce_Operations/retirement/publications.
Note 4. Other Post-Employment Benefits Plan (OPEB)
In addition to the pension benefits described in Note 3, the Supervisor offers to its employees a
single-employer defined benefit healthcare plan, which is administered by the Board. Florida Statute
112.0801 requires the County to provide retirees and their eligible dependents with the option to
participate in the OPEB Plan if the County provides health insurance to its active employees and their
eligible dependents. The OPEB Plan provides medical coverage, prescription drug benefits and life insurance
to both active and eligible retired employees. The OPEB Plan does not issue a publicly available financial
report. No assets are accumulated in a trust that meets the criteria as set forth in GASB Statement 75,
Accounting and Financial Reporting for Post-Employment Benefit Plans Other Than Pensions.
The Board may amend the OPEB Plan design, with changes to the benefits, premiums and/or levels of
participant contribution at any time. On at least an annual basis, in an open session, and prior to the
annual enrollment process, the Board approves the rates for the coming calendar year for the retiree and
County contributions.
Eligibility for post-employment participation in the OPEB Plan is limited to full-time employees of the
County, and the Constitutional Officers. An employee who retires as an active participant in the OPEB
Plan and was hired on or after October 1, 2001, may continue to participate in the OPEB Plan by paying
the monthly premium established annually by the Board. An employee who retires as an active participant
in the plan, was hired prior to October 1, 2001, has at least ten years of full-time service with the County,
and meets the retirement criteria of the FRS but is not eligible for Medicare, may maintain group health
insurance benefits with 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.
12
Monroe County, Florida
Supervisor of Elections
Notes to the Financial Statements
Note 4. Other Post-Employment Benefits Plan (OPEB) (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 October 1, 2001, has at
least ten years of full-time service with the County, and meets the retirement criteria of the FRS and is
eligible for Medicare at the time of retirement or becomes eligible for Medicare following retirement, may
maintain group health insurance benefits with the County following retirement, provided the retiring
employee contributes the Actuarial Rate for Medicare retirees as determined by the actuarial firm
engaged by the County, less a $250 per month County subsidy. Alternatively, retirees meeting these
criteria may elect to leave the County health plan and receive a $250 per month payment from the
County, payable for the lifetime of the retiree.
The Board engages an actuarial firm on a biannual basis to determine the County's accrued total OPEB
liability. The Supervisor of Elections 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
$21,456 for the year ended September 30, 2023. Further information about the OPEB Plan is available in the
County's Annual Comprehensive Financial Report which is published on the Clerk's website at www.clerk-of-
the-court.com.
Note 5. Risk Management
The Supervisor 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 Supervisor 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 buildings 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 Supervisor 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.
13
Monroe County, Florida
Supervisor of Elections
Notes to the Financial Statements
Note 6. Lease Commitments
The Supervisor leases office space and a vehicle under cancelable arrangements that qualify as other
than short-term leases under GASB No. 87 and, therefore, have been recorded at the present value of
the future minimum lease payments as of the date of their inception.
The Supervisor had two lease agreements for the year ended September 30, 2023. The future minimum
lease obligations and the net present value of these minimum lease payments as of September 30, 2023,
were as follows:
Balance
Balance 10/1/2022 Additions Deductions 09/30/2023
Lease liability $ 26,463 $ 80,370 $ (40,029) $ 66,804
Principal Interest Total
Fiscal years ending September 30:
2024 $ 40,201 $ 638 $ 40,839
2025 26,603 1,224 27,827
Totals $ 66,804 $ 1,862 $ 68,666
Note 7. Litigation
The Supervisor is a party from time to time in various lawsuits and other claims incidental to the ordinary
course of its operation, some of which are covered by the Board's self-insurance program. While the
results of litigation cannot be predicted with certainty, management believes the final outcome of such
litigation will not have a material adverse effect on the Supervisor's financial position.
14
REQUIRED SUPPLEMENTARY INFORMATION
(Unaudited)
Monroe County, Florida
Supervisor of Elections
Required Supplementary Information (Unaudited)
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual—General Fund
Year Ended September 30, 2023
General Fund
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Intergovernmental:
Board of County Commissioners $2,804,734 $2,804,734 $2,805,290 $ 556
Investment income - - 5,851 5,851
Miscellaneous - - 4,111 4,111
Total revenues 21804,734 2,804,734 2,815,252 10,518
Expenditures:
Current:
Personnel services 1,256,734 1,256,734 1,172,382 84,352
Operating expenditures 773,000 773,000 708,949 64,051
Debt service:
Principal - - 40,029 (40,029)
Interest - - 58 (58)
Capital outlay 775,000 775,000 123,408 651,592
Total expenditures 2,804,734 2,804,734 2,044,826 759,908
Excess of revenues over expenditures - - 770,426 770,426
Other financing sources (uses):
Transfer to Board of County Commissioners - - (850,796) 850,796
Lease Financing - - 80,370 (80,370)
Total other financing sources (uses) - - (770,426) 770,426
Excess of revenues over expenditures
and other financing sources - - - -
Fund balance, beginning of year - - - -
Fund balance, end of year $ - $ - $ - $ -
See note to required supplementary information
15
Monroe County, Florida
Supervisor of Elections
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 accounting principles generally accepted in the United States of America.
16
SUPPLEMENTARY REPORTS
1111�111�11� II�>��IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII
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 Joyce Griffin
Supervisor of Elections 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 the major fund of the Monroe County, Florida Supervisor of Elections (the Supervisor) as of
and for the year ended September 30, 2023, and the related notes to the financial statements, which
collectively comprise the Supervisor's 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 Supervisor and do not represent a complete
presentation of the financial statements of Monroe County, Florida.
Report on Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the Supervisor's internal
control over financial reporting (internal control) as a basis for designing the audit procedures that are
appropriate in the circumstances for the purpose of expressing our opinion on the financial statements,
but not for the purpose of expressing an opinion on the effectiveness of the Supervisor's internal control.
Accordingly, we do not express an opinion on the effectiveness of the Supervisor's internal control.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent, or
detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control such that there is a reasonable possibility that a material
misstatement of the 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.
P O Vifl,,.R (31° V h E alIA3 d.A 14 D E R 0()N.1
/"<<<a.J l b l 1 IA X, C D S L)f i I IN(",I
17
f"�r✓ ili ;II- r;vF ,Al,I Li 'A le U".[a I IJ;i'% ;f ,IJ,I . ,ra il.of dIlf (113, 0,r60 hn,�hlml ✓.c, mw.rI, a "'i1 i;
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Supervisor's 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 Supervisor'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 Supervisor's internal control and compliance.
Accordingly, this communication is not suitable for any other purpose.
Fort Lauderdale, Florida
March 27, 2024
18
1111�111�11� II�>��IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII
RSM
Management Letter in Accordance with Chapter 10.550,
Rules of the Auditor General of the State of Florida
To the Honorable Joyce Griffin
Supervisor of Elections of Monroe County, Florida
Report on the Financial Statements
We have audited the financial statements of the Monroe County, Florida, Supervisor of Elections (the
Supervisor), 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 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.
P O Vifl,,.R (31° V h P alIA3 d.A 14 D E R 0()N.1
/"<<<a.J l b l 1 IA X, C 0 S L)f i f I'q(.:,I
19
f"�r✓ ili ;II- r;vF ,Al,I Li 'A le U".[a I IJ;i'% ;f ,IJ,I . ,ra il.of dIlf (113, 0,r60 hn,�hlml ✓.c, m .ri, a "'i1 i;
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 Supervisor of Elections and applicable
management, and is not intended to be and should not be used by anyone other than these specified
parties.
a...
5 Up
Fort Lauderdale, Florida
March 27, 2024
20
1111�111�11� II�>��IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII
RSM
Independent Accountant's Report on Compliance
with Local Government Investment Policies
To the Honorable Joyce Griffin
Supervisor of Elections of Monroe County, Florida
We have examined the Monroe County, Florida, Supervisor of Elections' (the Supervisor)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 Supervisor
of Elections is responsible for the Supervisor of Elections' compliance with the specific requirements. Our
responsibility is to express an opinion on the Supervisor of Elections' 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 Supervisor complied, in all material
respects, with the specified requirements referenced above. An examination involves performing
procedures to obtain evidence about whether the Supervisor 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 Supervisor of Elections' 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 Supervisor 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 Supervisors'
office, and applicable management and is not intended to be, and should not be, used by anyone other
than these specified parties.
a.5 Up
Fort Lauderdale, Florida
March 27, 2024
P O Vifl,,.R (31° V h U14(3 d.A 14 D E R 0()N.1
IA X, C D S Uu i f N(.:,I
21
f"�r✓ ili ;II- r;vF ,Al,I Li 'A le U".[a I IJ;i'% ;f ,IJ,I . ,ra il.of dIlf (113, 0,r60 hn,�hlml ✓.c, mw.rI, a "'i1 i;