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Fiscal Year 2005MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 DANNY L. KOLHAGE CLERK OF THE CIRCUIT COURT PREPARED BY: CLERK OF THE CIRCUIT COURT FINANCE DEPARTMENT SANDRA CARLILE FINANCE DIRECTOR THIS PAGE INTENTIONALLY LEFT BLANK MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 PAGE INTRODUCTORY SECTION Transmittal Letter of the Clerk of the Circuit Court Al - A5 Certificate of Achievement for Excellence in Financial Reporting A6 List of Elected and Appointed Officials A7 Organizational Chart A8 FINANCIAL SECTION Independent Auditors' Report 131 - B2 Management's Discussion and Analysis C1 - C12 Basic Financial Statements: Government -Wide Financial Statements Statement of Net Assets D1 - D2 Statement of Activities D3 - D4 Fund Financial Statements Balance Sheet -Governmental Funds E1 - E2 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Assets E3 Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds E4 - E5 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities E6 Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Major Governmental Funds: General Fund E7 - El 1 Fine and Forfeiture Fund E12 - E13 Road and Bridge Fund E14 - E15 Governmental Grants Fund E16 - E18 HIDTA Grants Fund E19 Statement of Net Assets - Proprietary Funds E20 - E23 Statement of Revenues, Expenses and Changes in Fund Net Assets - E24 - E25 Proprietary Funds Statement of Cash Flows - Proprietary Funds E26 - E29 Statement of Fiduciary Net Assets - Fiduciary Funds E30 Statement of Changes in Fiduciary Net Assets - Fiduciary Funds E31 Notes to the Financial Statements F1 - F28 Combining and Individual Fund Statements and Schedules: Combining Balance Sheet - NonMajor Governmental Funds G1 - G12 Combining Statement of Revenues, Expenditures and Changes in Fund Balances -NonMajor Governmental Funds G13 - G24 MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 PAGE Schedules of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Special Revenue Funds: Affordable Housing Programs G25 Tourist Development, All Districts, Two Cent G26 Tourist Development, Administrative and Promotional, Two Cent G27 Tourist Development, District #One, Three Cent G28 Tourist Development, District #Two, Three Cent G29 Tourist Development, District #Three, Three Cent G30 Tourist Development, District #Four, Three Cent G31 Tourist Development, District #Five, Three Cent G32 Impact Fees - Roadways G33 Impact Fees - Parks and Recreation G34 Impact Fees - Libraries G35 Impact Fees - Solid Waste G36 Impact Fees - Police Facilities G37 Impact Fees - Fire and EMS G38 Fire and Ambulance, District #1 - Lower and Middle Keys G39 Upper Keys Health Care Special Taxing District G40 Fire and Ambulance, District #6 - Key Largo G41 Unincorporated Area Service District - Parks and Recreation G42 Unincorporated Area Service District - Planning, Building and Zoning G43 -G44 Local Housing Assistance G45 Municipal Policing G46 911 Enhancement Fees G47 Duck Key Security District G48 Boating Improvement G49 Miscellaneous Special Revenue G50 - G51 Environmental Restoration G52 Law Enforcement Trust G53 Court Facility Fees G54 Drug Abuse Trust G55 Marathon Municipal Service G56 Conch Key Wastewater MSTU G57 Bay Point Wastewater MSTU G58 Big Coppitt Wastewater MSTU G59 Key Largo Wastewater MSTU G60 Comprehensive Plan Land Authority G61 Sheriffs Inmate Commissary G62 Sheriffs Impact Support G63 Sheriffs Off -Duty G64 Sheriffs Grants G65 Sheriffs South Florida Law Enforcement Trust G66 Sheriffs Shared Asset Forfeiture G67 Sheriffs Federal Forfeiture G68 Sheriffs HIDTA Administration G69 MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 PAGE Schedules of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Special Revenue Funds: (continued) Sheriffs Airport Services G70 Sheriffs Law Enforcement Trust G71 Sheriffs Fine and Forfeiture G72 Clerk's Modernization Trust G73 Clerk's Court Related G74 Debt Service Funds: Infrastructure Sales Surtax Revenue Bonds, Series 2003 G75 Capital Projects Funds: Clerk's Revenue Note G76 Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Major Governmental Funds: One Cent Infrastructure Surtax Capital Project Fund G77 Infrastructure Sales Surtax Revenue Bonds, Series 2003 Capital Projects Fund G78 Combining Statement of Net Assets - Internal Service Funds G79 - G80 Combining Statement of Revenues, Expenses and Changes in Fund Net Assets - Internal Service Funds G81 - G82 Combining Statement of Cash Flows - Internal Service Funds G83 - G86 Combining Statement of Fiduciary Net Assets - All Agency Funds G87 Combining Statement of Changes in Fiduciary Net Assets - All Agency Funds G88 - G89 STATISTICAL SECTION Fund Information: Government -Wide Expenses by Function H1 Government -Wide Revenues H1 General Government Expenditures by Function H2 - H3 General Government Revenues by Source H4 - H5 Property Tax Levies and Collections H6 Assessed and Estimated Actual Value of Taxable Property H7 Property Value, Construction and Bank Deposits H8 Property Tax Rates - Direct and Overlapping Governments H9 Principal Taxpayers H10 Ratio of Net General Bonded Debt to Assessed Value and Net Bonded Debt Per Capita H11 Computation of Direct Underlying and Overlapping Debt H12 Ratio of Annual Debt Service Expenditures for General Bonded Debt to General Government Expenditures H13 Schedule of Revenue Bond Coverage - Municipal Service District Waste H14 Schedule of Insurance Companies H15 Schedule of Insurance Agencies H16 - H17 Salaries and Surety Bonds of Principal Officials H18 Demographic Statistical Data H19 Miscellaneous Statistical Data H2O - H21 MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 PAGE SINGLE AUDIT/GRANTS COMPLIANCE SCHEDULES Independent Auditor's Report on Internal Control over Financial Reporting and on 11 - 12 Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards Independent Auditor's Report on Compliance and Internal Control over Compliance 13 -14 Applicable to each Major Federal Awards Program and State Financial Assistance Projects Schedule of Expenditures of Federal Awards and State Financial Assistance 15 - 120 Notes to Schedule of Expenditures of Federal Awards and State Financial 121 Assistance Projects Schedule of Findings and Questioned Costs - Federal Awards Programs and 122 - 123 State Financial Assistance Projects Summary Schedule of Prior Audit Findings - Federal Programs and State Projects 124 Independent Auditor's Management Letter 125 - 126 BRANCH OFFICE MARATHON SUB COURTHOUSE 3117 OVERSEAS HIGHWAY MARATHON, FLORIDA 33050 TEL. (305) 289-6027 FAX (305) 289-1745 March 27, 2006 CLERK OF THE CIRCUIT COURT MONROE COUNTY MONROE COUNTY COURTHOUSE 500 WHITEHEAD STREET, SUITE 101 KEY WEST, FLORIDA 33040 TEL. (305) 292-3550 FAX (305) 295-3663 The Honorable Charles "Sonny" McCoy Mayor, Board of County Commissioners Monroe County, Florida Dear Mayor McCoy: BRANCH OFFICE PLANTATION KEY GOVERNMENT CENTER 88820 OVERSEAS HIGHWAY PLANTATION KEY, FLORIDA 33070 TEL. (305) 852-7145 FAX (305) 852-7146 It is our pleasure to present to you, the Board of County Commissioners and the citizens, the Mon- roe County, Florida Comprehensive Annual Financial Report (CAFR) for the fiscal year ended September 30, 2005. Chapter 218.39 of the Florida Statutes requires an independent certified public accountant to audit the financial statements of counties in the State. In addition, the Federal Single Audit Act, the Florida Single Audit Act and the federal OMB Circular A-133 require an inde- pendent auditor to report on the government's internal controls and compliance with legal require- ments concerning the administration of federal awards and state financial assistance. This report is published to fulfill these requirements. This report was prepared by the Finance Department of the Clerk of the Circuit Court. Responsi- bility for both the accuracy of the presented data and the completeness and fairness of the presen- tation, including all disclosures, rests with the Clerk of the Circuit Court as Chief Financial Officer of Monroe County. We assert that, to the best of our knowledge and belief, this financial report is complete and reliable in all material aspects. It is presented in a format designed to fairly present the financial position and results of operations of Monroe County as measured by the financial ac- tivity of its various funds; and that all disclosures needed to allow the reader to gain a comprehen- sive understanding of the County's financial activity have been included. The County has established a comprehensive internal control framework that is designed both to protect the County's assets from loss, theft or misuse and to compile sufficient reliable accounting information for financial statement preparation in conformity with United States generally accepted accounting principles (GAAP) established by the Government Accounting Standards Board. Be- cause the cost of internal controls should not outweigh their benefits, the objective is to provide reasonable rather than absolute assurance that the financial statements will be free of material misstatement. Cherry, Bekaert, and Holland, L.L.P. have issued an unqualified ("clean") opinion on the Monroe County, Florida financial statements for the year ended September 30, 2005. The independent auditor's report is located at the front of the financial section of this report. A-1 Management's discussion and analysis (MD&A) can be found immediately following the independ- ent auditor's report and provides a narrative introduction, overview and analysis of the basic finan- cial statements. This letter of transmittal is designed to complement the MD&A and should be read in conjunction with it. Monroe County Profile Basic Information Monroe County was constitutionally formed in 1823. It is comprised of a string of subtropical is- lands that stretch more than one hundred miles into the Atlantic Ocean. These islands are con- nected in a chain -like fashion to the mainland by a series of forty-two bridges. The County seat, Key West, is approximately one hundred fifty miles southwest of Miami. Havana, Cuba lies a mere ninety miles to the south. Monroe County is a non -charter county established under the Constitution and the laws of the State of Florida. Legislative authority and policy decisions are vested in the Board of County Commissioners consisting of the mayor and four other members, all of whom are elected. The operation of other specific government functions resides with five Constitutional Officers. These Offices are elective and their titles indicative of their specific function. The positions are the Clerk of the Court, Property Appraiser, Sheriff, Supervisor of Elections and Tax Collector. Monroe County provides a full range of services including roads, health and social services, emergency medical services, park and recreational services, solid waste services, airport services and other governmental services. Reporting Entity For financial reporting purposes, the County's reporting entity consists of (1) the Board of County Commissioners and the Constitutional Officers, 2) the Monroe County Comprehensive Plan Land Authority, a blended component unit which though legally separate is, in substance, part of Monroe County's operations and for which the County is financially accountable, and (3) the Monroe County Housing Finance Authority, a discretely presented component unit which is financially ac- countable to Monroe County, and whose relationship with the County is such that an exclusion would cause the County's financial statements to be misleading or incomplete. The Monroe County Housing Finance Authority is reported in a separate column in the combined financial statements to emphasize that it is legally separate from the County and to differentiate its financial position, results of operations, and cash flows from those of the County. Additional information on the two component units can be found in the notes to the financial statements. The Monroe County School Board and the Monroe County Mosquito Control District have not met the established criteria for inclusion in the reporting entity, and accordingly, are excluded from this report. Budget Formal budgetary integration is employed as a management control device during the year for all fund types except as described in the notes to the financial statements. Monroe County follows the laws of Florida regarding the control, adoption and amendment of the budget during each fis- cal year. The County Commission has increased the level of budgetary control by requiring a County Commission resolution for the all cost center (departmental) budgetary changes. Budgets for the Property Appraiser and the Tax Collector are approved by the Florida Department of Revenue and are adopted as part of the General Fund by the Board of County Commissioners. The Sheriff and Supervisor of Elections prepare their budgets which are submitted to and ap- A-2 proved by the Board. The Clerk of the Court's budget is divided between court related functions funded by court related revenues, court related functions required to be funded by the Board of County Commissioners and non -court related functions. The court related portion of the Clerk's budget funded by court related revenues is approved by the Clerks of Court Operations Corpora- tion. The rest of the Clerk's budget is approved by the Board of County Commissioners and in- cluded as part of the General Fund. Economic Condition Local Economy Monroe County occupies a unique and very beautiful corner of the U.S. Our subtropical chain of islands offers a year-round mild climate and extensive recreational water activities. This makes the Florida Keys and Key West a major domestic and international tourist destination. Nine of the top ten taxpayers in Monroe County are hotels. The price we pay for our location and climate is the susceptibility to seasonal hurricanes. This past year saw four major hurricanes threaten the Flor- ida Keys, one of which was unusually early in the season and one of which was unusually late. Monroe County escaped serious environmental consequences from the first three hurricanes, but sustained serious damage from the fourth hurricane in October, 2005. The tourist industry was af- fected by all four hurricanes, as mandatory evacuations are necessary if the County is in a hurri- cane's projected path. This is the second year that Monroe County has experienced four hurricane threats. However, airplane passenger arrivals have continued to increase from 2003 and 2004 levels. Tourist and recreational sales have strengthened from January through August, but did not reach 2003 levels for the rest of 2005. Property values are stable, despite two years of unusually active hurricane seasons. Over a ten year period, property tax collections have risen 31 %. Over the same period, total assessed value of taxable property has increased 140%. All taxable sales have increased 3.9% from 2004 levels and 11.5% from 2003 levels. The County continues to experience a strong economic environ- ment. The County's unemployment rate of 3.0% at September 30, 2005 is well below the state and na- tional rates of 3.8% and 5.1 %, respectively. The County has historically enjoyed a strong job mar- ket. Local revenues and expenditures continue to be affected by intergovernmental pressures from re- duced federal and state aid, lack of funding for federal and state -mandated programs and ser- vices, and the increased demands for stronger public safety services, affordable health insurance and affordable housing. Lona-term Financial Plannin The County has developed the Monroe County Year 2010 Comprehensive Plan. This plan has been approved by the state, and describes the County's goals in the areas of land use; conserva- tion and coastal management; traffic circulation; mass transit; ports, aviation and related facilities; affordable housing; potable water; solid waste; sanitary sewer; storm water drainage; natural groundwater aquifer recharge; recreation and open space; intergovernmental coordination; and capital improvements. The County has implemented an employee recruitment and retention program. County staff was reduced by approximately 20% from 1998 levels as a result of the incorporation of the City of Marathon and the Village of Islamorada. The County has cautiously begun to add employees as it A-3 now has a base of experience concerning personnel needs required after the incorporations within the County. The County had been experiencing turnover rates of approximately 18% during 2004. The rate of employee turnover was improved by adding staff, but also by adjusting compensation to better match salaries with the local cost of living. The Board continues to focus on this area in its attempt to balance costs, services to Monroe County citizens, and fair compensation to its em- ployees. Relevant Financial Policies During 2005, the Board approved an appropriation policy whereby 72.5% of estimated ending fund balances are appropriated in the budget process as opposed to the previous policy of 70% of es- timated fund balance for the prior year. Maior Initiatives Several projects were underway in 2005 in furtherance of the County's Comprehensive Plan. Capital project improvements included the construction of a new judicial building in Key West, construction and renovation of several fire stations, a new medical examiner facility, courtroom im- provements in Marathon and Plantation Key, and a new upper keys government center. These improvements are to be funded from the County's capital project funds. The County is in the process of issuing bonds to assist in the construction of a new Key West air- port terminal. The bond proceeds, federal and state entitlement revenues, and capital project funds will provide a modern, more secure facility. The County plans to solicit bids for the project in late 2006, after the bond financing has been obtained. Six new municipal service taxing districts have been created to support the cost of wastewater pro- jects in Stock Island, Cudjoe and Sugarloaf Keys, Big Pine and Summerland Keys, Conch Key, Long Key and the City of Layton, and Duck Key. These districts have not assessed taxes to date pending the coordination of efforts with the Florida Keys Aqueduct Authority, a state special dis- trict. The Big Coppitt, Key Largo and South Stock Island storm water projects are in the final stages of construction and are funded by grants and capital project funds. Awards and Acknowledgments The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to Monroe County, Florida for its Comprehensive Annual Financial Report for the fiscal year ended September 30, 2004. This was the seventeenth consecutive year that the government has achieved this prestigious award. In or- der to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both U.S. generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe that our current comprehensive annual financial report continues to meet the Certificate of Achievement Program's requirements and we are submitting it to the GFOA to determine its eligibility for another certifi- cate. The County also submits its budget document to GFOA, and has received GFOA's Distinguished Budget Presentation Award for seven years. A-4 This report is the product of the dedication of the Finance Department under the direction of the Clerk of the Circuit Court of Monroe County as Auditor and Chief Financial Officer to the Board of County Commissioners. We would like to express our appreciation to the entire Finance Depart- ment, as well as other County departments, for their assistance in the preparation of this report. We also extend our thanks and appreciation to our independent auditors Cherry, Bekaert and Hol- land, L.L.P. for their outstanding efforts and assistance. In closing, we thank the County Commis- sioners for their interest and support to us throughout the year. Sincerely, Da L. Kolhage Sandra Carlile Clerk of the Circuit Court Finance Director and Chief Financial Officer A-5 Certificate of Achievement for Excellence in Financial Reporting Presented to Monroe County, Florida For its Comprehensive Annual Financial Report for the Fiscal Year Ended September 30, 2004 A Certificate of Achievement for Excellence in Financial Reporting is presented by the Government Finance Officers Association of the United States and Canada to government units and public employee retirement systems whose comprehensive annual financial reports (CAFRs) achieve the highest standards in government accounting and financial reporting. tE OFF MIEU IIAI W MM Li MAWN MMm"UMN President ,ems f n Executive Director MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS DIXIE M. SPEHAR, MAYOR DISTRICT 1 CHARLES "SONNY' MCCOY DISTRICT 3 GEORGE R. NEUGENT DISTRICT 2 COUNTY ADMINISTRATOR THOMAS J. WILLI DAVID P. RICE DISTRICT 4 MURRAY E. NELSON DISTRICT 5 CLERK OF THE CIRCUIT COURT AND CHIEF FINANCIAL OFFICER DANNY L. KOLHAGE A-7 s U -c 0 ca N M_ L 0 0 V d 0 L c 0 m Q. 0 00 A-8 Independent Auditors' Report To the Honorable Mayor and Board of County Commissioners of Monroe County, Florida: We have audited the accompanying financial statements of the governmental activities, the business -type activities, each major fund, and the aggregate remaining fund information of Monroe County, Florida (the "County"), as of and for the year ended September 30, 2005, which collectively comprise the County's basic financial statements as listed in the table of contents. These financial statements are the responsibility of the County's management. Our responsibility is to express opinions on these financial statements based on our audit. We did not audit the financial statements of the Monroe County Housing Finance Authority. Those financial statements were audited by other auditors whose report thereon has been furnished to us, and our opinion, insofar as it relates to the amounts included for the Monroe County Housing Finance Authority, is based solely on the report of the other auditors. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit and the report of other auditors provide a reasonable basis for our opinions. In our opinion, based upon our audit and the report of other auditors, the financial statements referred to above present fairly, in all material respects, the financial position of the governmental activities, the business -type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the County as of September 30, 2005, and the respective changes in financial position and cash flows, where applicable, thereof and the respective budgetary comparison for the General Fund, the Fine and Forfeiture Fund, the Road and Bridge Fund, the Governmental Grants Fund and the HIDTA Grants Fund for the year then ended in conformity with accounting principles generally accepted in the United States of America. In accordance with Government Auditing Standards, we have also issued our report dated March 1, 2006 on our consideration of the County's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is 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 internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit. The management's discussion and analysis section is not a required part of the basic financial statements but is supplementary information required by the Governmental Accounting Standards Board. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentation of the required supplementary information. However, we did not audit the information and express no opinion on it. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the County's basic financial statements. The introductory section, combining financial statements, supplemental schedules and statistical tables listed in the foregoing table of contents are presented for purposes of additional analysis and are not a required part of the basic financial statements. The accompanying Schedules of Expenditures of Federal Awards and State Financial Assistance are also presented for the purpose of additional analysis as required by the U.S. Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non -Profit Organizations and Chapter 10.550, Rules of the Auditor General, and are not a required part of the basic financial statements. The combining financial statements and supplementary schedules and the accompanying Schedules of Expenditures of Federal Awards and State Financial Assistance have been subjected to the auditing procedures applied in our audit of the basic financial statements and, in our opinion, are fairly presented in all material respects when considered in relation to the basic financial statements taken as a whole. The introductory section and statistical tables have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we express no opinion on them. West Palm Beach, Florida March 1, 2006 ms Management's Discussion and Analysis As Finance Department management under the direction of the Chief Financial Officer and Clerk of the Circuit Court in Monroe County, we offer readers this narrative overview and analysis of the financial activities of Monroe County Government for the fiscal year ended September 30, 2005. We encourage readers to consider this information in conjunction with additional information furnished in the letter of transmittal of the report and the basic financial statements for an overall view of Monroe County's activities. Financial Highlights • Monroe County's total net assets exceeded its liabilities at September 30, 2005 by $398,043,118, an increase of $26,894,091. Net assets for governmental activities were $331,808,892 and $66,234,226 for business -type activities. • Unrestricted net assets, available for Monroe County's ongoing obligations to citizens and creditors were $94,420,793, an increase of $9,630,757. Governmental activity unrestricted net assets were $73,649,807. Business -type activity unrestricted net assets were $20,770,986. • At September 30, 2005 Monroe County's governmental fund statement reported combined ending fund balances of $175,797,458. Of this amount, $166,807,124 remains in the various fund types of Monroe County as unreserved. • The General Fund reported a fund balance of $27,765,786, an increase from the last fiscal year of $7,737,777. • Bonded debt and loans of Monroe County decreased $2,095,363 in 2005. Monroe County's percentage of bonded debt and loans compared to net assets decreased 1.0 % to 6.2%. Overview of the Financial Statements This discussion and analysis is intended to serve as an introduction to Monroe County Government's basic financial statements, which include government -wide statements, fund statements, as well as notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements. Government -Wide Financial Statements Government -wide financial statements are designed to provide the reader with a broad overview of the financial position of Monroe County and are similar to private -sector financial statements. They include a Statement of Net Assets and a Statement of Activities. These statements appear on pages D-1 through D-4 of this report. The Statement of Net Assets shows the County's assets less its liabilities at September 30, 2005. The difference between these assets and liabilities is reported as net assets. Changes in net assets over time may be indicative of an improving or deteriorating financial position. Net assets are reported in three categories: 1) invested in capital assets, net of related debt, 2) restricted, and 3) unrestricted. The Statement of Activities, which follows the Statement of Net Assets, presents information showing how the net assets changed during fiscal year 2005. The statement presents all underlying events, C-1 which contribute to the change, irrespective of the timing of the related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only affect cash flows in future fiscal periods. Such items include revenues earned and expenses incurred but not yet paid as well as unused vacation leave, all of which will produce changes in cash in a future fiscal period. Both statements attempt to distinguish functions of Monroe County that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges for services (business -type activities). Governmental activities reported in the statements include general government, public safety, physical environment, transportation, economic environment, human services, culture and recreation, and court related. Business -type activities include Monroe County's airports, solid waste and landfill operations, and the Card Sound Road and Toll Bridge. The government -wide financial statements also report the Monroe County Housing Finance Authority, which is considered a legally separate component unit. This financial information is reported separately from the primary government's financial information. Fund Financial Statements A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. Monroe County, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance -related legal requirements. All of the funds of Monroe County can be divided into three general categories: governmental, proprietary and fiduciary funds. Governmental Funds Governmental Funds essentially account for the same functions as those reported in the government - wide statements described above. However, unlike the government -wide statements, this set of financial statements focuses on events that produce near -term inflows and outflows of spendable resources available at the end of the fiscal year, which is a narrower focus than the government -wide financial statements. Such information may be useful in evaluating the available spendable resources. These statements appear on pages E-1 through E-19 of this report. It can be useful to compare the information presented for the governmental funds with similar information presented for governmental activities in the government -wide statements. Therefore, reconciliations are provided as a link between both the governmental fund statements and the government -wide statements to assist in this comparison. The governmental fund financial statements present financial information for the County's major general, special revenue, debt service and capital project funds. Governmental funds individually presented as major funds in Monroe County's statements include: the General Fund, four Special Revenue Funds: Fine and Forfeiture, Road and Bridge, Governmental Grants, and HIDTA Grants, and two capital project funds: One Cent Infrastructure Surtax and Infrastructure Sales Surtax Revenue Bonds, Series 2003. Although there are many smaller governmental funds in Monroe County, they have been presented in a total column "Other Governmental Funds." These non -major funds are presented individually in the combining and individual fund statements section of the report. Proprietary Funds Monroe County maintains two different types of proprietary funds, enterprise and internal service. The proprietary fund statements appear on E-20 through E-29 of this report. C-2 Enterprise funds are used to report business -type activities in the government -wide financial statements. Monroe County maintains four major enterprise funds: Municipal Service District -Waste, Key West Airport, Card Sound Bridge, and the Marathon Airport. There are no non -major enterprise funds. Internal service funds are used to accumulate and allocate costs among Monroe County's various functions. Monroe County uses internal service funds to account for insurance activities (worker's compensation, group health and risk management) and fleet maintenance activities. Internal service funds are presented in total in the fund financial statements but may be reviewed individually in the combining and individual fund statements section of the report. Because these services predominantly benefit governmental rather than business -type functions, they have been included within the government -wide financial statements as governmental activities. They are also combined into a single, aggregated presentation in the proprietary fund financial statements. Fiduciary Funds Monroe County uses fiduciary funds to account for resources held for the benefit of parties outside of County government, such as assets held in trust and agency funds by Monroe County as an agent for individuals. Fiduciary funds are not reflected in the government -wide financial statements because the resources of those funds are not available to support Monroe County's own programs. The accounting used for fiduciary funds is much like that used for proprietary funds. The fiduciary fund financial statements appear on pages E-30 through E-31 of this report. Notes to the Financial Statements The notes to the financial statements provide additional information that is essential to a full understanding of the data provided in both government -wide and fund financial statements. The notes commence on page F-1 and continue throughout the entire F page section. Other Information Combining and individual statements and schedules mentioned earlier, which present details of non - major funds used in governmental and enterprise funds, commence on page G-1 and continue throughout the entire G page section. This section also includes the budget to actual schedules, and statements for major capital project, internal service and agency funds. Additional information about Monroe County can be found under the Statistical Section in the H page section and the Single Audit Section in the I page section of this report. Government -Wide Financial Analysis Monroe County Net Assets (in thousands) Current and Other Assets Capital Assets Total Assets Governmental Business -type Total Primary Activities Activities Government 2005 2004 2005 2004 2005 2004 $218,696 $208,761 $ 31,677 $ 29,754 $250,373 $238,515 167,824 157,916 44,705 41,419 212,529 199,335 386,520 366,677 76,382 71,173 462,902 437,850 C-3 Current and Other Liabilities Long -Term Liabilities Total Liabilities Net Assets: Invested in Capital Assets, Net of Related Debt Restricted Governmental Business -type Total Primary Activities Activities Government 2005 2004 2005 2004 2005 2004 28,486 28,457 5,764 5,464 34,250 33,921 26,225 27,880 4,384 4,900 30,609 32,780 54,711 56,337 10,148 10,364 64,859 66,701 164,021 152,394 40,516 36,778 204,537 189,172 94,138 95,382 4,947 1,805 99,085 97,187 Unrestricted 73,650 62,564 20,771 22,226 94,421 84,790 Total Net Assets $331,809 $310,340 $ 66,234 $ 60,809 $ 398,043 $ 371,149 The overall financial position of Monroe County improved in both fiscal years 2005 and 2004. Changes in net assets over time can be one of the best and most useful indicators of a government's financial position. Monroe County's increase in net assets for the fiscal years ending 2005 and 2004 were $26,894,091 and $17,560,759, respectively. The largest portion of net assets for 2005 and 2004 is Monroe County's investment in capital assets (e.g., land and depreciated buildings, infrastructure and equipment) less any outstanding debt related to their acquisition. This category represents 51.3% and 51.0% of total primary government net assets for fiscal years 2005 and 2004. Monroe County uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. Although Monroe County's investment in capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities. Total primary government net assets above also include restricted net assets. Restricted net assets are resources subject to external restriction on how they may be used. The restrictions reported for business -type activities are comprised of the landfill closure and post closure costs and the airport's passenger facility charges. Restrictions reported for governmental activities are special purpose funds which report the use of resources as designated by external entities. The remaining component of net assets is unrestricted net assets. Unrestricted net assets may be used to meet the County's ongoing obligations to citizens and creditors. The 2005 change in current and other assets arose from increases in cash, investments, amounts due from other governments and capital assets. The increase in cash is partially offset by an increase in accounts payable. Monroe County began to use longer term investments to better its investment earnings. Monroe County received additional hurricane grant revenue and accordingly had higher grant receivables at the end of the year. The increase in capital assets is related to several large construction projects including the judicial center, the purchase of property for a local hurricane shelter, the purchase of land for a new public works center, and continuing infrastructure improvements to airport and wastewater facilities. Liabilities decreased as scheduled debt repayments were made. Accounts payable increased because of a temporary timing difference attributable to operating disruptions caused by three hurricanes this summer. The decrease of deposits in escrow represents the use of a grant match provided by a C-4 business entity for airport construction. The funds are drawn down by Monroe County as construction is completed. Comparison of Current Assets and Liabilities (in thousands) A comparison of current assets as compared to current liabilities for both governmental and business - type activities can be a good indication of Monroe County's ability to meet its current and existing operational responsibilities. The ratios for the current and prior fiscal years are as follows: Governmental Business -type Activities Activities 2005 2004 2005 2004 Current Assets $ 211,518 $ 200,846 $ 26,709 $ 29,356 Current Liabilities $ 28,486 $ 28,457 $ 5,764 $ 5,464 Ratio of Current Assets to Current Liabilities 7.42 7.06 4.63 5.37 The schedule above demonstrates that Monroe County has more than adequate cash flows. Monroe County Changes in Net Assets (in thousands) Governmental Business -type Total Primary Activities Activities Government 2005 2004 2005 2004 2005 2004 Revenues: Charges for Services $ 24,274 $ 22,723 $ 20,528 $ 19,684 $ 44,802 $ 42,407 Operating Grants and Contributions 29,682 33,629 5,676 3,513 35,358 37,142 Capital Grants and Contributions 3,395 3,089 4,917 3,219 8,312 6,308 General Revenues: Property Taxes 65,214 60,113 - - 65,214 60,113 Other Taxes 48,395 48,220 - - 48,395 48,220 State Revenue Sharing 3,296 3,200 - - 3,296 3,200 Investment Income 5,611 2,744 742 359 6,353 3,103 Miscellaneous 7,683 2,418 116 17 7,799 2,435 Total Revenues 187,550 176,136 31,979 26,792 219,529 202,928 C-5 Governmental Business -type Total Primary Activities Activities Government 2005 2004 2005 2004 2005 2004 Expenses: General Government 32,120 27,563 - - 32,120 27,563 Public Safety 87,224 85,533 - - 87,224 85,533 Physical Environment 7,228 4,937 - - 7,228 4,937 Transportation 5,021 10,037 - - 5,021 10,037 Economic Environment 16,069 14,237 - - 16,069 14,237 Human Services 7,742 7,346 - - 7,742 7,346 Culture and Recreation 4,359 4,116 - - 4,359 4,116 Court Related 6,467 8,256 - - 6,467 8,256 Interest on Long -Term Debt 825 951 - - 825 951 Solid Waste - - 14,238 13,608 14,238 13,608 Toll Bridge - - 890 935 890 935 Key West Airport - - 9,140 6,701 9,140 6,701 Marathon Airport - - 1,312 1,147 1,312 1,147 Total Expenses 167,055 162,976 25,580 22,391 192,635 185,367 Increase in Net Assets Before Transfers 20,495 13,160 6,399 4,401 26,894 17,561 Transfers 974 974 (974) (974) - - Changes in Net Assets 21,469 14,134 5,425 3,427 26,894 17,561 Net Assets, Beginning 310,340 296,206 60,809 57,382 371,149 353,588 Net Assets, Ending $ 331,809 $ 310,340 $ 66,234 $ 60,809 $ 398,043 $ 371,149 HE Governmental Activities The graph below and on the next page represents a comparison of program revenues to program expenses for governmental activities in fiscal years 2005 and 2004. It is apparent from these graphs that general revenues were required to cover expenses in each of the functions noted. Monroe County, Florida Governmental Activities (in Millions) For the year ended September 30, 2005 IN Program Revenues 0 Program Expenses 1 7.2 80 - 60 - 40 - .1 . 20 -L ji'.11. 16.1 1.9 7.2 1: 2.27.7 i0. 4.4 .2 0 'u m � M � � S2. c B � n oUs m �, cL CL The largest revenue sources for governmental activities in 2005 are property taxes in the amount of $65,213,691 and all other taxes totaling $48,394,576.. Total taxes 113,608,267 amounted to 60.6% of Monroe County's governmental activity revenues excluding transfers. The second largest revenue source is operating grants at 15.8% of governmental activity revenues excluding transfers. The 2005 rah identifies the largest expense function as public safety amounting to $87,223,777. This is 52.2% of the total expenses for governmental activities. The second largest function is general government With a total of $32,119,524 or 19.2% of total expenses for governmental activities. The general government expenses include the Tax Collector, Property Appraiser, and the Supervisor of Elections. The largest revenue sources for governmental activities in 2004 are property taxes in the amount of $60,113,153 andall other taxes totaling $48,219,760. Total taxes of$108,332,913 amounted to 61.5% of Monroe County"s governmental activity revenues excluding transfers. The second largest revenue source is operating grants at $33,629,200 or 1 .1 /® of governmental activity revenues excluding transfers. The 2004 graph identifies the largest expense function as public safety with a total 85,533,238. This is 52.5% of the total expenses for governmental activities. The second largest function is general government with a total of $27,563,524 or 16.9% of total expenses for governmental activities. The generai government expenses include the Tax Collector, Property Appraiser, and the supervisor of Elections. Monroe County, Florida Governmental Activities (in Millions) For the r ended September 30, 2004 ®!Program Revenues 0 Program Expenses 0 . 80 60 40 27.5 35, 2011.2 4.34.9 1.0 10. :01 1. 7,3 0.44.1 4.38.3 0: M M c S ® n � mi C :3 0 � 3 3 0 � 81 0CL �« Business-Type Activities The purpose of proprietary funds is to recover the majority of costs incurred in providing a service through user fees and charges for that service. Charges services revenues in 2005 amount to $20,527,905 or 64.2% of all revenue sources. Other revenue sources include operating grants, capital grants, contributions, investment income, and miscellaneous. Total revenues excluding transfers from other funds were in excess of expenses excluding transfers to other funds by$6,399,381. The change in net assets in 2005 was $5,425,448. This represents an increase of$1,998,768 from the prior year. Operating grants received during 2005 increased approximately $2.1, million. Other operating revenues also increased. However, the increase in revenues was offset by an additional million of operating expenses. Financial Analysis of Monroe County's Funds Governmental Funds s earlier mentioned in the Financial highlights, Monroe County's governmental funds reported combined fund balances of$175,797,458 at the end of the current fiscal year. This represents a 1.9% increase from the prior year. Governmental funds' unreserved fund balance totals were $166,807,124, an increase of 3.-%® from the prior year and 94.9% of the total fund balance. Fund balances are reserved $281, 5 to meet current commitments (encumbrances) in the next fiscal year, $1,635,215 for Monroe County Land Authority land and land rights acquisition, $6,754,563 for mortgage loans receivable, and $319,551 for payment of debt service. The Monroe County Land Authority is a blended component unit of Monroe County and is reported as a non-major special revenue fund. The General Fund is the chief operating fund of Monroe County and automatically, one of Monroe County's major fun s. At September 30, 2005, total fund balance in the general fund was $27,765,786. Total revenues increased $4,377,403 or 1 . % from the previous year. Expenditures also increased $6,186,544 or 9.2%. Most of the expenditure increase is attributable to the increase in the public safety function (9.9%m)and offset by a decrease in court related expenditures (5m 8%). Other Maior Fund Information (in thousands Fine and Road and Governmental Forfeiture Bridge Grants 2005 2004 2005 2004 2005 2004 Revenues and Other Sources $ 39,774 $ 36,313 $ 5,820 $ 5,865 $ 6,051 $ 3,564 Expenses and Other Uses 40,849 37,676 5,390 6,683 7,865 4,061 Increase/(Decrease) In Fund Balance $ 1,075 $ (1,363) $ 430 $ (818) $ 1,814 $ (497) HIDTA One Cent Infrastructure Surtax Grants Infrastructure Surtax 2005 Revenue Bonds 2005 2004 2005 2004 2005 2004 Revenues and Other Sources $ 19,769 $ 24,244 $ 16,320 $ 17,267 $ 488 $ 308 Expenses and Other Uses 19,769 24,244 16,443 12,377 450 2,074 Increase/(Decrease) In Fund Balance $ - $ - $ 123 $ 4,890 $ 38 $ (1,766) Fine and Forfeiture Special Revenue Fund Although ad valorem millage rates were slightly lowered, tax revenues increased because of the increase in property values. Fine and forfeiture revenue declined because of changes in Florida Statutes which redistributed certain of revenues. Expenditures increased to fund an expanded Sheriff's budget. Road and Bridge Special Revenue Fund Expenditures in 2005 decreased because of delays in the progress of various projects due to staff turnover and three hurricane evacuations. Gas tax revenues also declined due to hurricanes' disruption of normal business. Governmental Grants Special Revenue Fund The receipt of grant funds related to hurricane assistance caused the increase in intergovernmental revenue. The grants were used to fund an increase in public safety and physical environment expenditures. HIDTA Grants Special Revenue Fund This fund is used to account for reimbursement grants funded by the U.S. Department of Justice to fight drug trafficking. The volume of revenues and expenditures has decreased as programs established by the grantor have been completed. One Cent Infrastructure Surtax Capital Proiects Fund The citizens of Monroe County approved a one cent sales surtax which is the main revenue source in this fund. The 2005 hurricanes caused the sales tax revenues to decrease, because of mandatory evacuations and a related decline in the number of tourists. Revenues also decreased because, in 2004, the Sheriff made a one time contribution from forfeiture funding to the Stock Island wastewater system. Expenditures were reduced because of lower debt service provided by this fund, the completion of a large project, and a three month disruption of projects because of the 2005 hurricanes. C-9 Infrastructure Surtax 2005 Revenue Bonds Capital Projects Fund In 2004, Monroe County issued $21,455,000 in revenue bonds to be paid from one cent sales surtax revenues. Revenues in 2005 consist of investment earnings on unused bond proceeds. Expenditures decreased because of turnover in the engineering department and three months of hurricane disruptions. Proprietary Funds Proprietary fund statements provide the same information as in the business -type activities column of the government -wide statements, but in greater detail and on a fund basis for enterprise funds and internal service funds. The Municipal Service District -Waste Enterprise Fund maintains Monroe County's landfills and transfer sites. Monroe County continues to outsource the waste haul -out services through a major contract. The revenues are pledged to meet the debt service payment requirements on the Monroe County, Florida Solid Waste Disposal System Refunding Revenue Note, Series 2002. The Key West Airport Enterprise Fund receives numerous operating and capital grants. The major source of match for these grants is funds received from the various airlines as passenger facility charges. The increase in non -depreciable assets is indicative of the major capital improvements funded by these capital grants and local match. Operating expenses increased due to grant funded planning and studies. Other factors concerning the finances of these two major funds have already been addressed in the discussion of Monroe County's business -type activities. The internal service funds include the Worker's Compensation Fund, Group Insurance Fund, Risk Management Fund and the Fleet Management Fund. The self-insurance funds have been a major focus in Monroe County's operations. Management has taken aggressive action to improve operating results in the self-insurance funds. The Group Insurance Fund has been the subject of great concern for a number of years because of continually escalating costs. Three years prior, management increased charges to participants in the program, and changed insurance carriers to achieve premium savings. Benefits available to participants and retirees were also decreased. Asserted and paid claims have decreased from $11,026,324 in fiscal year 2004 to $10,319,303 in fiscal year 2005, a decrease of 6.4%. Net Assets as of 2005 are 608% of the net assets as of 2003. Although insurance premiums have increased, the Risk Management Fund has had a favorable estimate adjustment for claims incurred but not reported. The Worker's Compensation Fund asserted and paid claims increased from $909,089 to $1,699,116, an increase of 87% because of an unfavorable estimate of claims incurred but not reported. Capital Assets Monroe County's financial statements present capital assets in two categories: those assets subject to depreciation, such as buildings, infrastructure, and equipment and those not subject to depreciation such as land and construction in process. Investment in capital assets for both governmental and business -type activities, net of related debt at September 30, 2005, was $204,536,875. Investment in capital assets for governmental activities is $164,020,737 and $40,516,138 is for business -type activities. C-10 These capital assets include both assets purchased as well as donated. They also include infrastructure assets, e.g., bike paths, roads, bridges, stormwater and wastewater sites, that were completed in the last two fiscal years. These assets are recorded at historical cost. The infrastructure assets acquired prior to the effective implementation date of GASB Statement No. 34 will be reported next year. The amount of unreported infrastructure is not currently determinable. Monroe County has several significant general government construction projects. A new courthouse facility and a new Upper Keys government center are underway. Monroe County is constructing central sewer systems to replace the existing method of wastewater disposal and improve Monroe County's fragile environment. There are also several roadway improvement projects, which will provide better road drainage, create bike paths, and upgrade safety measures. Monroe County has received approximately $815,000 in land donated by citizens as part of the building permit process. Monroe County further increased its investment in real estate by purchasing land in the lower keys for additional government facilities and a property in the lower keys for a hurricane shelter. Airport runways, hangars and related facilities in the enterprise funds continue to undergo improvements. The Card Sound Bridge is also undergoing a major renovation project. Further details are available in note 7 to the financial statements pages F-16 through F-17. Long -Term Debt At September 30, 2005, Monroe County had long-term debt in the amount of $34,041,808. This debt is mainly comprised of revenue bonds and notes secured by pledges of revenues. Revenue secured debt for governmental activities is $21,596,303 and $3,271,546 is for business -type activities. Monroe County has no general obligation bonds. Moody's Investors Service, Standard and Poor's Ratings Services and Fitch Ratings assigned municipal bond ratings of "Aaa" and "AAA" respectively, to the above mentioned bond based upon the municipal bond insurance policy securing such bonds issued by MBIA Insurance Corporation. Further details are available in note 8 to the financial statements pages F-17 through F-20. Budgetary Highlights The category changes in the General Fund's final budget are summarized below: The total final general fund revenue budget increased by $1,108,392 or 4.2% from the original budget. The largest increase was in intergovernmental revenues. This was due to the reallocation of the sales tax distribution between the General Fund and the Unincorporated Planning, Building, and Zoning Fund. The total general fund expenditure budget increased by $2,923,610 or 3.8% from the original budget. The largest increase of $1,604,664 was in human services which is related to the social services transportation cost center. This cost center was previously funded by gas taxes in the Road and Bridge Fund. It is now funded by ad valorem taxes in the general fund. The second largest governmental budget increase was general government in the amount of $787,261. Most of the increase in general government was in the public works facilities maintenance cost center in the amount of $409,384. Additional funds were needed to maintain the buildings and grounds after three hurricanes. C-11 Economic Factors and Next Year's Budgets and Rates Monroe County's officials considered many factors when adopting the fiscal year 2005 budget. Included among these factors were the rise in property values, the recovery of various sales tax and other revenues impacted by the tourist economy and the loss of court related revenues due to changes in Florida Statutes. Also considered were the constantly escalating costs of health insurance, increases in insurance premiums for all types of coverage, the implementation of wastewater treatment programs, affordable housing initiatives, the assumption of certain court related costs by the State and the purchase and maintenance of expanded park and recreational facilities. Ad valorem taxes based on property values comprise approximately 73% of budgeted tax revenues. The Property Appraiser certified a county -wide property value of roughly $17.3 billion for fiscal year 2005. For fiscal year 2006, the county -wide property value has been certified at approximately $21.7 billion, an increase of 25.4%. Charges for services paid to Constitutional Officers have increased to cover the cost of those operations, largely attributable to an increase in personnel costs. Other charges for services have increased because the charges are based on property values and tourist related activities, both of which have increased. However, for the tenth year in a row it was unnecessary to increase the solid waste residential rates because of previous successful negotiations with the contractor providing waste transportation services. Requests for Information This financial report is designed to provide a general overview of Monroe County's finances for all those with an interest in its finances. Questions concerning any of the information provided in this report or requests for additional information should be addressed to the Finance Director, Clerk of the Circuit Court, 500 Whitehead Street, Key West, Florida 33040. C-12 BASIC FINANCIAL STATEMENTS MONROE COUNTY, FLORIDA STATEMENT OF NET ASSETS SEPTEMBER 30, 2005 ASSETS Current Assets: Cash and Cash Equivalents Investments Accounts Receivable, Net Internal Balances Due from Other Governmental Units Interest Receivable Inventory Total Current Assets Noncurrent Assets: Mortgage/ Notes Receivable Allowance for Mortgage/ Notes Receivable Deferred Charges Restricted Cash and Cash Equivalents Land and Other Nondepreciable Assets Other Capital Assets, Net of Accumulated Depreciation Total Noncurrent Assets Total Assets LIABILITIES Current Liabilities: Accounts Payable Retainage Payable Accrued Wages and Benefits Payable Claims and Judgements Payable Due to Other Governmental Units Accrued Comp. Absences Payable Note Payable Component Primary Government Unit Governmental Business -Type Monroe County Activities Activities Total Hsg Fin Auth $ 152,104,372 $22,804,137 $ 174,908,509 $ 54,351 46,534,700 - 46,534,700 - 568,090 728,864 1,296,954 - 656,957 (656,957) - - 11,258,128 3,832,687 15,090,815 - 395,500 - 395,500 - 710 - 710 - 211,518,457 26,708,731 238,227,188 54,351 11,163,922 (4,409,359) 423,128 63,756,510 20,958 4,947,102 11,419,432 11,163,922 (4,409,359) 444,086 4,947,102 75,175, 942 104,067,320 33,285,522 137,352,842 - 175,001,521 49,673,014 224,674,535 - 386,519,978 76,381,745 462,901,723 54,351 12,301,102 3,062,406 15,363,508 - 792,068 413,355 1,205,423 - 2,830,955 64,985 2,895,940 - 6,329,650 129,632 6,459,282 - 2,508,491 1,339,783 3,848,274 695 587,285 8,134 595,419 - 6,485 - 6,485 - (Continued) The notes to the financial statements are an integral part of this statement. D-1 MONROE COUNTY, FLORIDA STATEMENT OF NET ASSETS - CONTINUED SEPTEMBER 30, 2005 Component Primary Government Unit Governmental Business -Type Monroe County Activities Activities Total Hsg Fin Auth Other Current Liabilities 24,689 4,817 29,506 - Deposits in Escrow 65,974 215,701 281,675 - Unearned Revenue 327,146 293 327,439 - Accrued Interest Payable 347,825 57,925 405,750 - Capital Leases Payable 630,827 50,000 680,827 - Revenue Notes Payable 563,078 416,935 980,013 - Revenue Bonds Payable 1,170,000 - 1,170,000 - Total Current Liabilities 28,485,575 5,763,966 34,249,541 695 Noncurrent Liabilities: Landfill Closure & Post Closure Costs - 368,240 368,240 - Note Payable 12,969 - 12,969 - Accrued Comp. Absences Payable 5,533,151 293,432 5,826,583 - Capital Leases Payable 835,620 867,270 1,702,890 - Revenue Notes Payable 1,808,771 2,854,611 4,663,382 - Revenue Bonds Payable 18,035,000 - 18,035,000 Total Noncurrent Liabilities 26,225,511 4,383,553 30,609,064 - Total Liabilities NET ASSETS Invested in Capital Assets, Net of Related Debt Restricted Debt Service Capital Projects Special Purposes Unrestricted Total Net Assets 54,711,086 10,147,519 64,858,605 695 164,020,737 40,516,138 204,536,875 319,551 - 319,551 - 39,563,252 - 39,563,252 - 54,255,545 4,947,102 59,202,647 - 73,649,807 20,770,986 94,420,793 53,656 $ 331,808,892 $ 66,234,226 $ 398,043,118 $ 53,656 The notes to the financial statements are an integral part of this statement. D-2 MONROE COUNTY, FLORIDA STATEMENT OF ACTIVITIES FOR THE YEAR ENDED SEPTEMBER 30, 2005 FunctionslProarams Primary government: Governmental activities: General Government Public Safety Physical Environment Transportation Economic Environment Human Services Culture and Recreation Court Related Interest on Long Term Debt Total governmental activities Business -type activities: Solid Waste Toll Bridge Key West Airport Marathon Airport Total business -type activities Total primary government Component Unit: Monroe Cnty Hsg Fin Auth Program Revenues Operating Capital Charges for Grants and Grants and Expenses Services Contributions Contributions $ 32,119,524 $ 8,407,825 $ 65,621 $ 3,150,766 87,223,777 7,668,663 25,515,110 115,852 7,227,978 938,665 976,113 - 5,020,993 233,111 502,573 128,289 16,069,418 599,168 374,677 - 7,741,927 483,286 1,677,648 - 4,359,252 190,869 139,724 - 6,466,744 5,752,730 430,267 - 825,487 - - - 167,055,100 24,274,317 29,681,733 3,394,907 14,237,871 14,366,857 241,642 - 889,608 1,221,864 - - 9,139,963 4,270,587 5,146,863 4,663,264 1,312,221 668,597 287,619 253,365 25,579,663 20,527,905 5,676,124 4,916,629 $ 192,634,763 $ 44,802,222 $ 35,357,857 $ 8,311,536 $ 4,120 $ - $ - $ - General Revenues: Taxes: Ad Valorem Taxes Tourist Impact Tax Gas Tax 1 /2 Cent Sales Tax One Cent Infrastructure Tax Tourist Development Tax Other Taxes St Shar Rev Not Rest to Spcf Purpose Investment Income Miscellaneous Transfers Total General Revenues and Trsfs Change in Net Assets Total Net Assets -Beginning Total Net Assets -Ending The notes to the financial statements are an integral part of this statement. D-3 Net (Expense) Revenue and Changes in Net Assets Component Primary Government Unit Governmental Business -type Monroe County Activities Activities Total Hsg Fin Auth $ (20,495,312) $ - $ (20,495,312) $ - (53,924,152) - (53,924,152) - (5,313,200) - (5,313,200) - (4,157,020) - (4,157,020) - (15,095,573) - (15,095,573) - (5,580,993) - (5,580,993) - (4,028,659) - (4,028,659) - (283,747) - (283,747) - (825,487) - (825,487) - (109,704,143) - (109,704,143) - - 370,628 370,628 - - 332,256 332,256 - - 4,940,751 4,940,751 - - (102,640) (102,640) - - 5,540,995 5,540,995 - (109,704,143) 5,540,995 (104,163,148) - (4,120) 65,213,691 - 65,213,691 - 2,319,138 - 2,319,138 - 5,565,189 - 5,565,189 - 8,163,088 - 8,163,088 - 14,875,923 - 14,875,923 - 13,924,863 - 13,924,863 - 3,546,375 - 3,546,375 - 3,296,240 - 3,296,240 - 5,611,225 742,461 6,353,686 313 7,683,121 115,925 7,799,046 - 973,933 (973,933) - - 131,172,786 (115,547) 131,057,239 313 21,468,643 5,425,448 26,894,091 (3,807) 310,340,249 60,808,778 371,149,027 57,463 331,808,892 66,234,226 398,043,118 53,656 D-4 MONROE COUNTY, FLORIDA BALANCE SHEET GOVERNMENTAL FUNDS SEPTEMBER 30, 2005 Assets Cash and Cash Equivalents Investments Accounts Receivable, Net Due from Other Funds Due from Other Governmental Units Mortgages/Notes Receivable Allowance for Mortgages/Notes Receivable Interest Receivable Inventory Total Assets Liabilities and Fund Balances Liabilities: Accounts Payable Retainage Payable Accrued Wages and Benefits Payable Due to Other Funds Due to Other Governmental Units Other Current Liabilities Deposits in Escrow Deferred Revenues Accrued Interest Payable Total Liabilities Fund Balances: Reserved for: Encumbrances Land Acquisition Mortgage Loans Debt Service Unreserved, Designated for Spec Rev Fund Unreserved, Undesignated Unreserved, report in nonmajor: Special Revenue Funds Capital Project Funds Total Fund Balances Total Liabilities and Fund Balances General Fine & Forfeiture Road & Bridge Governmental Grants $ 10,253,480 $ 7,330,126 $ 9,689,422 $ 2,586,833 15,565,396 - - - 81,767 - 500 251 6,994,188 1,667 20,205 492,939 515,053 1,026,756 660,391 3,208,595 - - - 32,540 - - - (32,540) 105,405 - - - 710 - - - $ 33,515,999 $ 8,358,549 $10,370,518 $ 6,288,618 $ 2,028,462 $ 142,757 $ 981,910 $ 2,907,966 9,101 - - 75,509 1,964,349 13,722 28,134 645,173 324,334 - 637,265 172,292 1,223,057 34,995 172,290 474,640 17,397 - - 157 65,674 - 300 - 117,839 - - 1,224,307 5,750,213 191,474 1,819,899 5,500,044 520 226 27,765,266 8,166,849 1,842 41,185 8,548,777 747,389 27,765,786 8,167,075 8,550,619 788,574 $ 33,515,999 $ 8,358,549 $10,370,518 $ 6,288,618 The notes to the financial statements are an integral part of these statements. E-1 Infrastructure One Cent Sales Surtax Nonmajor Total HIDTA Infrastructure Revenue Bonds, Governmental Governmental Grants Surtax Series 2003 Funds Funds $ 79,857 $ 14,583,925 $ 13,686,526 $ 71,341,582 $ 129,551,751 - 25,396,173 5,573,131 - 46,534,700 _ - - 466,851 549,369 27,099 2,451 - 358,716 7,897,265 1,842,412 1,170,595 - 2,414,544 10,838,346 - 914,285 - 10,217,097 11,163,922 - (914,285) - (3,462,534) (4,409,359) - 157,631 80,908 51,556 395,500 _ _ - - 710 $ 1,949,368 $ 41,310,775 $ 19,340,565 $ 81,387,812 $ 202,522,204 $ 1,773,339 $ 755,829 $ 174,617 $ 3,223,046 $ 11,987,926 - 670,178 3,652 33,628 792,068 159,418 11,375 2,529 272,529 3,097,229 5,849 181,426 2,000 5,153,838 6,477,004 10,762 114,370 - 442,657 2,472,771 _ _ - - 17,554 - 65,974 - - - 157,409 1,499,555 - - - 314,665 314,665 1,949,368 1,733,178 182,798 9,597,772 26,724,746 - 212,737 24,495 - 281,005 - - - 1,635,215 1,635,215 - - - 6,754,563 6,754,563 - - - 319,551 319,551 - - - 421,113 421,113 - 39,364,860 19,133,272 103,726,413 62,572,053 62,572,053 - - 87,545 87,545 39,577,597 19,157,767 71,790,040 175,797,458 $ 1,949,368 $ 41,310,775 $ 19,340,565 $ 81,387,812 $ 202,522,204 E-2 MONROE COUNTY, FLORIDA RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO STATEMENT OF NET ASSETS FOR THE YEAR ENDED SEPTEMBER 30, 2005 Amounts reported for governmental activities in the Statement of Net Assets are different because: Ending fund balance - total governmental funds $ 175,797,458 Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the governmental funds, net of accumulated depreciation of $58,647,014. 166,451,236 Deferred charges, bond/note issuance costs, used in governmental activities are amortized over the life of the debt and are not financial resources. Therefore, they are not reported in the governmental funds. 423,128 Unearned revenues are not reported in the governmental funds as they are not current financial resources. They are reported as a reduction of deferred revenues in the Statement of Net Assets. 1,172,409 Long-term liabilities are not due and payable in the current period and, therefore, are not reported in the governmental funds. Note Payable $ (19,454) Revenue Notes Payable (2,371,849) Revenue Bonds Payable (19,205,000) Capital Leases Payable (1,466,447) Accrued Interest Payable (33,160) Accrued Compensated Absences (5,715,568) Total (28,811,478) The Assets and Liabilities of the Internal Service Funds (funds are used to charge the costs of insurance and fleet maintenance activities to individual funds) are not reported in the Governmental Funds. 16,776,139 Net Assets of governmental activities $ 331,808,892 The notes to the financial statements are an integral part of this statement. E-3 THIS PAGE INTENTIONALLY LEFT BLANK MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2005 Revenues: Taxes Licenses and Permits Intergovernmental Charges for Services Fines and Forfeitures Investment Income Miscellaneous Total Revenues Expenditures: Current: General Government Public Safety Physical Environment Transportation Economic Environment Human Services Culture and Recreation Court Related Capital Projects Debt Service Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Fine & Road & Governmental General Forfeiture Bridge Grants $ 18,498,696 $ 36,768,025 $ 1,628,081 $ - 359,545 - - - 8,167,592 - 3,829,566 5,127,975 3,925,290 2,237,760 33,361 178,600 1,990 369,290 - - 766,952 381,728 232,742 86,487 5,156,184 15,384 75,499 93,915 36,876,249 39,772,187 5,799,249 5,486,977 22,837,705 399,600 38,846,810 6,529,319 - 3,189,010 473,915 - - 1,662,874 46,398 - 4,754,628 969,047 577,522 - - - 5,805,555 74,679 - 1,682,513 2,578,715 - - 139,724 2,423,300 60,461 - 49,673 224,455 - - - 73,814,375 7,064,059 4,754,628 7,692,841 (36,938,126) 32,708,128 1,044,621 (2,205,864) Other Financing Sources/(Uses): Transfers from Other Funds 44,629,704 1,667 20,205 564,256 Transfers to Other Funds (187,294) (33,784,590) (635,257) (172,204) Capital Lease Acquisition 233,493 - - - Total Other Financing Sources/(Uses) 44,675,903 (33,782,923) (615,052) 392,052 Net Change in Fund Balances Fund Balances -October 1 Fund Balances -September 30 7,737,777 (1,074,795) 429,569 (1,813,812) 20,028,009 9,241,870 8,121,050 2,602,386 $ 27,765,786 $ 8,167,075 $ 8,550,619 $ 788,574 The notes to the financial statements are an integral part of these statements. E-4 Infrastructure HIDTA Grants One Cent Infrastructure Surtax Sales Surtax Revenue Bonds, Series 2003 Nonmajor Governmental Funds Total Governmental Funds $ - $ 14,875,923 $ - $ 29,134,639 $ 100,905,364 - - - 2,475,613 2,835,158 19,648,019 - - 11,235,073 48,008,225 - 315,072 - 9,561,977 16,252,060 - - - 1,870,804 2,242,084 - 1,128,744 487,560 2,022,400 5,106,613 98,115 100 - 1,781,159 7,220,356 19,746,134 16,319,839 487,560 58,081,665 182,569,860 11,311,803 34,549,108 19,668,950 - - 16,359,368 84,593,457 - - - 1,811,934 3,948,723 - - - - 5,770,073 - - - 15,535,006 16,112,528 - - - 408,477 7,971,224 - - - 1,508,701 4,227,140 - - - 3,825,456 6,358,890 - 14,150,192 449,721 36,608 14,636,521 100,179 - - 2,743,427 3,068,061 19,769,129 14,150,192 449,721 53,540,780 181,235,725 (22,995) 2,169,647 37,839 4,540,885 1,334,135 - 451 - 2,269,478 47,485,761 - (2,292,788) - (8,995,667) (46,067,800) 22,995 - - 318,750 575,238 22,995 (2,292,337) - (6,407,439) 1,993,199 - (122,690) 37,839 (1,866,554) 3,327,334 39,700,287 19,119,928 73,656,594 172,470,124 $ - $ 39,577,597 $ 19,157.767 $ 71,790.040 $ 175,797,458 E-5 MONROE COUNTY, FLORIDA RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES FOR THE YEAR ENDED SEPTEMBER 30, 2005 Amounts reported for governmental activities in the Statement of Activities are different because: Net change in fund balances - total governmental funds $ 3,327,334 Governmental funds report capital outlays as expenditures. However, in the Statement of Activities the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense. This is the amount by which capital outlays of $23,666,823 exceeded depreciation of $8,251,307 in the current period. 15,415,516 Governmental funds do not report donated capital assets as they do not provide current financial resources. Governmental activities report donated assets at the fair market value. 816,796 Governmental funds only report the disposal of assets to the extent proceeds are received from the sale. In the Statement of Activities, grants and aid (transfers of property to other governmental agencies) and any losses generated were reported as expenses. (6,254,308) Payment of long-term debt is reported as an expenditure on the governmental funds as current financial resources are used, but a reduction of long-term 3,653,484 liabilities in the Statement of Net Assets. Issuance of long-term debt provides current financial resources to governmental funds. However, in the Statement of Net Assets it is reported as a long-term liability. (575,238) The change in compensated absences are reported in the Statement of Activities and are not reported in governmental funds as current financial resources are not used. 18,717 Governmental funds report the effect of issuance costs, premiums, discounts, and similar items when debt is first issued; whereas, these amounts are deferred and amortized in the Statement of Activities. In addition, interest and other accruals not using current financial resources is reported as governmental activities. The amount is the net effect of these transactions. (36,350) Revenues that do not provide current financial resources are not reported on governmental funds. However, revenues that are earned in the current period are reported in the Statement of Activities. 1,172,409 Net revenues of internal service funds (funds used to charge the costs of certain activities to individual funds) are reported with governmental activities. 3,930,283 Change in net assets of governmental activities $ 21,468,643 The notes to the financial statements are an integral part of these statements. E-6 MONROE COUNTY, FLORIDA GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Taxes Licenses and Permits Intergovernmental Charges for Services Fines and Forfeitures Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: General Government: Board of County Commissoners County Administrator Public Works Management Public Safety Management Community Services Management County Attorney Office of Management & Budget Technical Services Personnel Vehicle Replacement Public Works Facilities Maintenance ADA Compliance Value Adjustment Board Community Services -Marine Projects Promotional Advertising Tax Increment Payment Clerk to BOCC-Financial Package Clerk Recording Clerk Information Systems Clerk Finance Internal Audit Tourist Audit Tax Noncourt Administration Noncourt Records Mangement Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 18,327,800 $ 18,327,800 $ 18,498,696 $ 170,896 250,000 250,000 359,545 109,545 5,310,066 6,687,219 8,167,592 1,480,373 1,751,195 1,342,829 3,925,290 2,582,461 11,000 11,000 1,990 (9,010) 414,998 414,998 766,952 351,954 212,000 351,605 5,156,184 4,804,579 26,277,059 27,385,451 36,876,249 9,490,798 1,504,701 1,504,701 1,484,811 19,890 505,308 717,208 689,152 28,056 157,974 157,974 155,277 2,697 96,760 96,760 90,442 6,318 204,538 204,538 184,303 20,235 1,217,623 1,217,623 1,053,517 164,106 557,209 613,209 592,328 20,881 1,785,525 1,817,692 1,658,742 158,950 373,888 377,032 377,032 - 217,550 141,722 - 141,722 5,538,974 5,948,358 5,750,429 197,929 185,000 185,000 30,209 154,791 15,000 17,000 14,998 2,002 123,924 123,924 117,783 6,141 5,000 5,000 2,379 2,621 150,000 179,394 179,394 - 20,000 20,000 6,446 13,554 511,576 511,576 462,096 49,480 665,111 665,111 489,440 175,671 1,317,629 1,317,629 1,286,641 30,988 218,470 218,470 146,259 72,211 184,108 184,108 138,990 45,118 117,861 117,861 98,842 19,019 125,964 125,964 109,162 16,802 The notes to the financial statements are an integral part of these statements. (Continued) E-7 MONROE COUNTY, FLORIDA GENERALFUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2005 Tax Collector Property Appraiser Supervisor of Elections Insurances -Supervisor of Elections GASB 34 Implementation Gov't Enterprise Management System Sterling Award Program Total General Government Public Safety: Hurricane Communications Emergency Management Marathon Emer Operations Center Medical Examiner American Red Cross Lower Keys Sheriff Fire Academy Total Public Safety Physical Environment: Extension Service Land Steward Hazardous Waste Total Physical Environment Transportation: County Engineer Economic Environment: Literacy Volunteers of America Veteran's Affairs Veteran's Affairs Veteran's Affairs Transportation Total Economic Environment Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) 3,339,837 3,374,494 3,064,056 310,438 3,836,781 3,838,224 3,536,264 301,960 973,666 973,666 973,267 399 135,058 135,058 122,626 12,432 30,000 30,000 - 30,000 15,000 35,000 20,450 14,550 - 63,000 2,370 60,630 24,130,035 24,917,296 22,837,705 2,079,591 7,099 18,785 18,785 - 421,715 457,354 367,579 89,775 258,238 258,238 245,036 13,202 48,479 48,479 44,982 3,497 552,671 573,329 570,298 3,031 27,000 27,000 27,000 - 39,234,686 39,160,601 37,472,110 1,688,491 153,805 136,604 101,020 35,584 40,703,693 40,680,390 38,846,810 1,833,580 255,619 255,619 250,557 5,062 88,982 88,982 265 88,717 229,353 229,353 223,093 6,260 573,954 573,954 473,915 100,039 98,524 98,524 46,398 52,126 6,500 6,500 6,500 - - 5,429 5,429 - 419,266 425,982 425,982 - - 142,171 139,611 2,560 425,766 580,082 577,522 2,560 The notes to the financial statements are an integral part of these statements. (Continued) E-8 MONROE COUNTY, FLORIDA GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2005 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Human Services: Health Care Respite Act 90,000 90,000 - 90,000 Hospice of the Florida Keys 45,000 45,000 45,000 - Public Works Animal Shelter 820,208 833,176 831,453 1,723 Bayshore Manor 587,469 593,943 552,928 41,015 Middle Keys Guidance Clinic 206,752 - - - Middle Keys Guidance Clinic 360,000 566,752 566,752 - Middle Keys Guidance Clinic - 119,717 101,994 17,723 Guidance Clinic Transportation - 42,351 42,351 - Care Center for Mental Health 310,000 310,000 310,000 - Monroe Cnty Assoc. for Retarded Citizens 65,000 65,000 65,000 - Heron/ Peacock 50,000 50,000 50,000 - Older Americans Volunteer Program 4,000 4,000 561 3,439 Legal Aid 23,628 23,628 - 23,628 Welfare Administration 788,435 788,435 742,099 46,336 Welfare Services 863,657 863,657 631,980 231,677 Caring Friends for Seniors 10,000 10,000 10,000 - Big Brothers\ Big Sisters 23,000 23,000 23,000 - Florida Keys Children's Shelter 95,000 95,000 95,000 - Wesley House 100,000 100,000 100,000 - Pace 26,000 26,000 23,869 2,131 MCEF/ Monroe Youth Challenge 22,000 22,000 21,996 4 Helpline 17,000 17,000 17,000 - Domestic Abuse Shelter 35,000 35,000 35,000 - Florida Keys Outreach Coalition 25,000 25,000 25,000 - Healthy Kids Program 39,734 39,734 36,423 3,311 Habitat for Humanity 25,000 25,000 3,754 21,246 Habitat for Humanity Upper Keys 5,000 5,000 - 5,000 Samuel's House 40,000 40,000 40,000 - Youth Summer Rec - 40,000 40,000 - Womankind 28,000 28,000 28,000 - Rural Health Network 232,000 232,000 232,000 - Social Service Transportation - 1,133,154 1,086,395 46,759 Dept of Health, ACHA - 250,000 - 250,000 Healthy Kids Outreach 38,000 38,000 38,000 - Just for Kids 10,000 10,000 - 10,000 (Continued) The notes to the financial statements are an integral part of these statements. E-9 MONROE COUNTY, FLORIDA GENERALFUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2005 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Fountains of Living 5,000 5,000 5,000 - FI Keys Area Hlth Educ Ct 5,000 5,000 5,000 - Total Human Services 4,994,883 6,599,547 5,805,555 793,992 Culture and Recreation: Heart of the Keys Recreation 30,000 30,000 30,000 - Big Pine Athletic Association 45,000 45,000 45,000 - Boys and Girls Club 32,000 32,000 32,000 - Upper Keys YMCA 13,500 13,500 13,500 - Higgs Beach Maintenance 88,091 88,091 65,386 22,705 Lower Keys AARP 5,000 5,000 4,699 301 Middle Keys AARP 5,000 5,000 4,429 571 Big Pine Key AARP 5,000 5,000 4,168 832 Fine Arts Council 72,500 72,500 72,500 - Historic Keys Foundation 30,000 30,000 30,000 - FI Keys Wild Brd Rehab Ct 14,000 14,000 14,000 - BP & Lwr Keys Wild Brd Ct 14,000 14,000 14,000 - Library Admin Support 498,980 482,150 473,905 8,245 Library Key West 707,754 708,604 601,576 107,028 Library Key West Donations 15,000 112,664 31,666 80,998 Library Marathon 323,806 324,656 312,359 12,297 Library Marathon Donations 5,000 17,506 7,209 10,297 Library Islamorada 277,534 278,384 246,940 31,444 Library Islamorada Donations 2,000 3,186 125 3,061 Library Key Largo 358,771 359,621 334,579 25,042 Library Key Largo Donations 8,000 18,511 4,490 14,021 Library Big Pine Key 228,946 229,796 225,234 4,562 Library Big Pine Key Donations 6,500 24,237 10,950 13,287 Total Culture and Recreation 2,786,382 2,913,406 2,578,715 334,691 Court Related: Law Library 73,041 73,041 66,265 6,776 Guardian Ad Litem 138,866 138,866 123,039 15,827 State Attorney 272,446 272,446 191,705 80,741 Public Defender 411,982 472,592 457,286 15,306 Court Administration 7,991 7,991 6,988 1,003 Court Admin-Judicial Support 152,352 152,352 136,403 15,949 Court Admin-Staff Attorney 5,418 5,418 4,931 487 The notes to the financial statements are an integral part of these statements. (Continued) E-10 MONROE COUNTY, FLORIDA GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2005 Court Admin-Article V Resid/Conting Court Admin-Circuit Ct Reporter Svcs Court Admin-Circuit Drug Court Court Admin-Pretrial Release Court Admin-Family Ct Case Mgmt Ct. Admin-Other Circuit Court Juvenile Court Admin-Information Systems Total Court Related Debt Service: Principal Interest Total Debt Service Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Original Final Budget Budget Actual Variance with Final Budget Positive (Negative) 87,500 87,500 86,762 738 13,718 13,718 7,374 6,344 451,526 446,033 417,784 28,249 499,854 499,854 490,504 9,350 118,608 118,608 115,902 2,706 74,421 74,421 71,738 2,683 262,050 262,050 246,619 15,431 2,569,773 2,624,890 2,423,300 201,590 181,971 187,895 (5,924) 36,560 36,560 - 218,531 224,455 (5,924) 76,283,010 79,206,620 73,814,375 5,392,245 (50,005,951) (51,821,169) (36,938,126) 14,883,043 Reserve for Contingencies (2,543,570) (737,915) - 737,915 Transfers from Other Funds 43,948,145 43,948,145 44,629,704 681,559 Transfers to Other Funds - (223,937) (187,294) 36,643 Capital Lease Proceeds - 233,500 233,493 (7) Total Other Financing Sources/(Uses) 41,404,575 43,219,793 44,675,903 1,456,110 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (8,601,376) (8,601,376) 7,737,777 16,339,153 20,028,009 20,028,009 20,028,009 - $ 11,426,633 $ 11,426,633 $ 27,765,786 $ 16,339,153 The notes to the financial statements are an integral part of these statements. E-11 MONROE COUNTY, FLORIDA FINE AND FORFEITURE SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Taxes Intergovernmental Charges for Services Fines and Forfeitures Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: General Government: Tax Increment Payment Vehicle Replacement Total General Government Public Safety: Sheriffs Group Insurance Bond Refunds LEEA Funds Jail Operations Public Works Correction Facilities Keys to Recovery Program Teen Court Juvenile Detention Cost Share Total Public Safety Human Services: Residential Substance Abuse Court Related: Sheriff Extradition Total Expenditures Original Final Budget Budget Actual Variance with Final Budget Positive (Negative) $ 38,247,194 $ 38,247,194 $ 36,768,025 $ (1,479,169) 30,000 30,000 - (30,000) 1,400,000 3,742,363 2,237,760 (1,504,603) - 80,900 369,290 288,390 200,000 482,949 381,728 (101,221) 1,000 456,301 15,384 (440,917) 39,878,194 43,039,707 39,772,187 (3,267,520) 300,000 399,600 399,600 - 33,394 33,394 - 33,394 333,394 432,994 399,600 33,394 5,219,974 5,219,974 4,668,221 551,753 50,000 50,000 33,461 16,539 75,000 75,000 75,000 - 104,671 134,946 134,946 - 1,655,526 1,655,526 1,470, 784 184,742 86,287 86,287 86,287 - 58,609 58,609 - 58,609 - 63,000 60,620 2,380 7,250,067 7,343,342 6,529,319 814,023 97,500 74,679 22,821 76,000 76,000 60,461 15,539 7,659,461 7,949,836 7,064,059 885,777 Excess/Deficiency of Revenues Over/(Under) Expenditures 32,218,733 35,089,871 32,708,128 (2,381,743) The notes to the financial statements are an integral part of these statements. (Continued) E-12 MONROE COUNTY, FLORIDA FINE AND FORFEITURE SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2005 Original Final Budget Budget Variance with Final Budget Positive Actual (Negative) Other Financing Sources/(Uses): Reserve for Contingencies (1,017,715) (699,109) - 699,109 Transfers from Other Funds - 549 1,667 1,118 Transfers to Other Funds (33,553,725) (33,633,034) (33,784,590) (151,556) Total Other Financing Sources/(Uses) (34,571,440) (34,331,594) (33,782,923) 548,671 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (2,352,707) 9,241,870 758,277 (1,074,795) (1,833,072) 9,241,870 9,241,870 $ 6,889,163 $ 10,000,147 $ 8,167,075 $ (1,833,072) The notes to the financial statements are an integral part of these statements. E-13 MONROE COUNTY, FLORIDA ROAD AND BRIDGE SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2005 Revenues: Taxes Intergovernmental Charges for Services Investment Income Miscellaneous Total Revenues Expenditures: Current: General Government: Vehicle Replacement Transportation: Road Department County Engineer Road and Bridge Street Lighting Local Option Gas Tax Projects 80% Gas Tax In -House Projects Marathon Roads Islamorada Roads Total Transportation Economic Environment: Veterans Affairs Transportation Human Services: Middle Keys Guidance Clinic Guidance Clinic Transportation Social Services Transportation Total Human Services Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Original Final Budget Budget Actual Variance with Final Budget Positive (Negative) $ 1,275,000 $ 1,275,000 $ 1,628,081 $ 353,081 3,350,000 3,350,000 3,829,566 479,566 17,000 17,000 33,361 16,361 120,000 120,000 232,742 112,742 32,000 32,000 75,499 43,499 4,794,000 4,794,000 5,799,249 1,005,249 72,269 72,269 - 72,269 2,848,775 3,071,866 2,408,041 663,825 843,466 843,466 584,040 259,426 198,034 198,034 187,336 10,698 395,000 395,000 241,976 153,024 2,200,000 2,278,966 337,239 1,941,727 350,000 350,000 39,596 310,404 - 956,400 956,400 - 503,199 503,199 - 503,199 7,338,474 8,596,931 4,754,628 3,842,303 139,760 - - - 119,717 - - - 42,351 - - - 1,133,154 - - - 1,295,222 - - - 8,845,725 8,669,200 4,754,628 3,914,572 (4,0511725) (3,875,200) 1,044,621 4,919,821 The notes to the financial statements are an integral part of these statements. (Continued) E-14 MONROE COUNTY, FLORIDA ROAD AND BRIDGE SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2005 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Other Financing Sources/(Uses): Reserve for Contingencies (236,166) (190,434) - 190,434 Transfers from Other Funds - - 20,205 20,205 Transfers to Other Funds (413,000) (635,257) (635,257) - Total Other Financing Sources/(Uses) (649,166) (825,691) (615,052) 210,639 Net Change in Fund Balances (4,700,891) (4,700,891) 429,569 5,130,460 Fund Balances, October 1 8,121,050 8,121,050 8,121,050 - Fund Balances, September 30 $ 3,420,159 $ 3,420,159 $ 8,550,619 $ 5,130,460 The notes to the financial statements are an integral part of these statements. E-15 MONROE COUNTY, FLORIDA GOVERNMENTAL GRANTS SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2005 Revenues: Intergovernmental Charges for Services Investment Income Miscellaneous Total Revenues Expenditures: Current: General Government: Grant Match Public Safety: FEMA-Tropical Storm Mitch EMS Hazardous Material Emergency Management Base Grant Radiological Emerg Preparedness EMS Award Grant Rural EMS Matching Grant Local Mitigation Strategy Plan Shelter Retrofit EOC Enhancements EOC Security Improvement Sheriffs Intoxilyzer Grant FEMA-Hurricane Charley FEMA-Hurricane Frances FEMA-Hurricane Ivan FEMA-Hurricane Dennis FEMA-Hurricane Katrina FEMA-Hurricane Rita Total Public Safety Physical Environment: Stormwater Improvement Stormwater Master Plan Sanitary Wastewater Master Plan Homeowners Wastewater Assistance Coastal Impact Assistance Community Development Block Grnt Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ - $ 15,818,609 $ 5,127,975 $ (10,690,634) - 141,000 178,600 37,600 - 4,085 86,487 82,402 - 58,600 93,915 35,315 - 16,022,294 5,486,977 (10,535,317) 400,000 53,395 - 53,395 - 39,464 39,464 - - 3,955 - 3,955 - 132,670 132,262 408 - 125,000 107,526 17,474 126,022 186,180 115,851 70,329 96,949 96,949 92,898 4,051 - 26,667 26,600 67 - 19,850 19,850 - - 88,142 62,790 25,352 - 124,000 8,257 115,743 - 6,350 6,350 - - 1,655 - 1,655 - 765 - 765 - 4,205 - 4,205 - 3,437,796 1,722,502 1,715,294 - 2,200,000 222,901 1,977,099 - 2,200,000 631,759 1,568,241 222,971 8,693,648 3,189,010 5,504,638 - 63,515 6,435 57,080 - 116,482 96,180 20,302 - 24,800 10,700 14,100 - 2,015,600 1,092,809 922,791 - 139,787 139,787 - - 911,929 151,300 760,629 The notes to the financial statements are an integral part of these statements. (Continued) E-16 MONROE COUNTY, FLORIDA GOVERNMENTAL GRANTS SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2005 No Discharge Zone Education Exotic Plant Control Svc FK Vessel Pump -Out CVA LE 567 Public Water Access Clean Vessel Act LE 507 Boat Ramp Repairs Total Physical Environment Transportation: S FI Water Mgmt Dist Grant Stormwater Transportation Study Plan Update Safety Improvement Heritage Trail Florida Keys Scenic Hwy Planning Bicycle/Pedestrian Coordination 2001 Bicycle/Pedestrian Plan 2 Overseas Heritage Trail Scenic Highway Interpretive Total Transportation Economic Environment: JTPA Liaison Affordable Housing Coordinator Total Economic Environment Human Services: Residential Substance Abuse Treatment Title III-B Homemaker 2005 Title Ill-B Homemaker 2004 Title III-Cl 2005 Title III-Cl 2004 Title III-C2 2005 Title III-C2 2004 Title III-E 2005 Title III-E 2004 Alzheimer's Disease Initiative 04/05 Alzheimer's Disease Initiative 05/06 Community Care for Disabled Adults 04/05 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) - 60,812 20,943 39,869 - 47,296 - 47,296 - 10,126 - 10,126 - 66,667 66,667 - - 99,000 33,000 66,000 - 333,333 45,053 288,280 - 46,660 - 46,660 - 3,936,007 1,662,874 2,273,133 - 4,234 4,234 - - 851,411 292,189 559,222 - 928,171 - 928,171 - 28,865 - 28,865 - 25,220 25,220 - - 150,000 50,712 99,288 - 1,233,800 510,142 723,658 - 200,000 86,550 113,450 - 3,421,701 969,047 2,452,654 - 5,429 - 5,429 - 45,081 - 45,081 - 50,510 - 50,510 - 181,783 84,775 97,008 - 124,319 97,803 26,516 - 43,809 43,809 - - 214,652 141,591 73,061 - 84,609 50,705 33,904 - 268,683 181,796 86,887 - 112,800 84,134 28,666 - 24,832 24,832 - - 54,781 44,688 10,093 - 63,609 63,609 - - 83,784 18,350 65,434 - 81,366 69,522 11,844 The notes to the financial statements are an integral part of these statements. (Continued) E-17 MONROE COUNTY, FLORIDA GOVERNMENTAL GRANTS SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2005 Community Care for the Elderly 05/06 Community Care for Disabled Adults 03/04 Community Care for the Elderly 04/05 Home Care for the Elderly 03/04 Home Care for the Elderly 04/05 Boys and Girls Club US Fellowship of Florida MC Education Foundation Low Income Home Energy Program 2005 Low Income Home Energy Program 2004 Care Center Mental Health Total Human Services Culture and Recreation: State Aid to Libraries NEH Preservation Assist Total Culture and Recreation Court Related: Juvenile Drug Court LLEBG Local Law Enforcement Block Grant-2004 Local Law Enforcement Block Grant-2005 Total Court Related Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Transfers from Other Funds Transfers to Other Funds Original Final Budget Budget Actual Variance with Final Budget Positive (Negative) - 608,788 120,524 488,264 - 97,652 19,984 77,668 - 469,220 364,474 104,746 - 2,935 2,902 33 - 4,729 15 4,714 - 53,894 53,894 - - 51,504 51,504 - - 60,000 60,000 - - 96,590 49,433 47,157 - 65,566 42,090 23,476 - 71,764 12,079 59,685 - 2,921,669 1,682,513 1,239,156 - 137,970 137,970 - - 1,764 1,754 10 - 139,734 139,724 10 - 28,942 - 28,942 - 100,033 - 100,033 - 70,694 49,673 21,021 - 199,669 49,673 149,996 622,971 19,416,333 7,692,841 11,723,492 (622,971) (3,394,039) (2,205,864) 1,188,175 (55,000) (30,206) - 30,206 2,918,474 564,256 (2,354,218) (172,204) (172,204) - Total Other Financing Sources/(Uses) (55,000) 2,716,064 392,052 (2,324,012) Net Change in Fund Balances (677,971) (677,975) (1,813,812) (1,135,837) Fund Balances, October 1 2,602,386 2,602,386 2,602,386 - Fund Balances, September 30 $ 1,924,415 $ 1,924,411 $ 788,574 $ (1,135,837) The notes to the financial statements are an integral part of these statements. E-18 MONROE COUNTY, FLORIDA SHERIFF'S HIDTA GRANT SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Intergovernmental Miscellaneous Total Revenues EXPENDITURES: Current: Public Safety Debt Service Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Capital Lease Acquisition Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 17,201,800 $ 19,639,155 $ 19,648,019 $ 8,864 - 98,115 98,115 - 17,201,800 19,737,270 19,746,134 8,864 17,098,976 19,660,086 19,668,950 (8,864) 102,824 100,179 100,179 - 17,201,800 19,760,265 19,769,129 (8,864) (22,995) (22,995) - 22,995 22,995 - The notes to the financial statements are an integral part of these statements. E-19 MONROE COUNTY, FLORIDA STATEMENT OF NET ASSETS PROPRIETARY FUNDS SEPTEMBER 30, 2005 ASSETS Current Assets: Cash and Cash Equivalents Accounts Receivable, Net Due from Other Funds Due from Other Governmental Units Total Current Assets Noncurrent Assets: Restricted Cash and Cash Equivalents Deferred Charges, Net Land and Other Nondepreciable Assets Capital Assets, Net of Accum. Depreciation Total Noncurrent Assets Total Assets LIABILITIES Current Liabilities: Accounts Payable Retainage Payable Accrued Wages and Benefits Payable Claims and Judgements Payable Due to Other Funds Due to Other Governmental Units Accrued Interest Payable Accrued Comp. Absences Payable Capital Leases Payable Other Current Liabilities Deposits in Escrow Unearned Revenue Notes Payable Total Current Liabilities Business -type Activities Enterprise Funds Major Funds Municipal Card Key Svc District Sound West Waste Bridge Airport $ 10,343,765 $ 9,645,894 $ 2,244,262 398,092 - 291,811 4,052 - - 45,431 - 3,375,769 10,791,340 9,645,894 5,911,842 1,708,171 - 3,238,931 20,958 - - 3,629,620 50,000 6,601,533 120,802 5,575,566 16,035,987 5,479,551 5,625,566 25,876,451 16,270,891 15,271,460 31,788,293 1,840,482 5,332 1,067,979 - - 390,364 19,075 11,064 29,057 129,632 - - 466,721 244,816 161,838 29,169 3,071 1,300,247 57,925 - - 8,134 - - 50,000 - - 4,817 - - 170,696 - 38,084 416,935 - - 3,193,586 264,283 2,987,569 The notes to the financial statements are an integral part of these statements. E-20 Governmental Major Funds Activities Internal Marathon Service Airport Total Funds $ 570,216 $ 22,804,137 $ 22,552,621 38,961 728,864 18,721 - 4,052 1,473 411,487 3,832,687 419,782 1,020,664 27,369,740 22,992,597 - 4,947,102 - - 20,958 - 1,138,279 11,419,432 54,000 11,553,167 33,285,522 1,318,594 12,691,446 49,673,014 1,372,594 13,712,110 77,042,754 24,365,191 148,613 3,062,406 313,176 22,991 413,355 - 5,789 64,985 32,091 - 129,632 6,329,650 100,826 974,201 451,585 7,296 1,339,783 35,720 - 57,925 - - 8,134 6,091 - 50,000 - - 4,817 7,135 6,921 215,701 - 293 293 - - 416,935 - 292,729 6,738,167 7,175,448 (Continued) E-21 MONROE COUNTY, FLORIDA STATEMENT OF NET ASSETS - CONTINUED PROPRIETARY FUNDS SEPTEMBER 30, 2005 Noncurrent Liabilities: Payable from restricted assets -Landfill closure/post closure costs Accrued Comp. Absences Payable Capital Leases Payable Notes Payable Total Noncurrent Liabilities Total Liabilities Business -type Activities Enterprise Funds Major Funds Municipal Card Key Svc District Sound West Waste Bridge Airport 368,240 - - 112,110 42,542 125,749 867,270 - - 2,854,611 - - 4,202,231 42,542 125,749 7,395,817 306,825 3,113,318 NET ASSETS Invested in Capital Assets, Net of Related Debt (438,394) 5,625,566 22,637,520 Restricted 1,708,171 - 3,238,931 Unrestricted 7,605,297 9,339,069 2,798,524 Total Net Assets $ 8,875,074 $ 14,964,635 $ 28,674,975 Adjustment to reflect the consolidation of internal service activities related to enterprise funds. Net Assets of Business -Type Activities The notes to the financial statements are an integral part of these statements. E-22 Major Funds Marathon Governmental Activities Internal Service Airport Total Funds - 368,240 - 13, 031 293,432 100,412 - 867,270 - - 2,854,611 - 13, 031 4, 383, 553 100,412 305,760 11,121,720 7,275,860 12,691,446 40,516,138 1,372,594 - 4,947,102 - 714,904 20,457,794 15,716,737 $ 13,406,350 65,921,034 $ 17,089,331 313,192 $ 66,234,226 E-23 MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2005 Operating Revenues: Franchise Fees Charges for Services Fines and Forfeitures Miscellaneous Total Operating Revenues Operating Expenses: Personnel Services Operations Depreciation and Amortization Asserted and Paid Claims Total Operating Expenses Operating Income/(Loss) Nonoperating Revenues/(Expenses): Operating Grants Grant and Donations - Other Sources Investment Income Gain (Loss) on Disposition of Assets Interest Expenses and Fiscal Charges Total Non -Operating Revenues/(Expenses) Business -type Activities Enterprise Funds Major Funds Municipal Card Key Svc District Sound West Waste Bridge Airport $ 222,551 $ - $ - 14,144,306 1,221,864 4,259,524 - - 11,063 18,280 330 96,665 14,385,137 1,222,194 4,367,252 779,658 546,610 1,202,138 13,334,175 159,459 7,189,076 49,445 218,050 795,169 14,163,278 924,1 99 9,186,383 221,859 298,075 (4,819,131) 191,176 - 5,146,863 50,466 - - 353,818 250,648 116,324 (1,409) (1,525) (4,810) (136,825) - - 457,226 249,123 5,258,377 Income/(Loss) Before Contributions and Trsfs 679,085 547,198 439,246 Transfers from Other Funds - - - Transfers to Other Funds (466,721) (244,549) (183,988) Capital Grants and Contributions - 96,760 4,566,504 Change in Net Assets 212,364 399,409 4,821,762 Total Net Assets -October 1 8,662,710 14,565,226 23,853,213 Total Net Assets -September 30 $ 8,875,074 $ 14,964,635 $ 28,674,975 Adjustment to reflect the consolidation of internal service activities related to enterprise funds. Change in Net Assets of Business -Type Activities The notes to the financial statements are an integral part of these statements. E-24 Governmental Major Funds Activities Internal Marathon Service Airport Total Funds $ - $ 222,551 $ - 668,597 20,294,291 20,810,676 - 11,063 - 651 115,926 517,144 669,248 20,643,831 21,327,820 218,511 2,746,917 1,324,796 619,038 21,301,748 3,731,215 490,263 1,552,927 79,507 - - 12,103,683 1,327,812 25,601,592 17,239,201 (658,564) (4,957,761) 4,088,619 284,544 5,622,583 - 3,075 53,541 - 21,671 742,461 504,615 (1,261) (9,005) (22,336) (136,825) - 308,029 6,272,755 482,279 (350,535) 1,314,994 4,570,898 22,150 22,150 1,473 (100,826) (996,084) (445,500) 253,365 4,916,629 1,223 (175,846) 5,257,689 4,128,094 13, 582,196 12,961,237 $ 13,406,350 $ 17,089,331 167,759 $ 5,425,448 E-25 MONROE COUNTY, FLORIDA STATEMENT OF CASH FLOWS PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2005 Operating Activities: Cash received for services Cash rec'vd from other funds for goods and svcs Cash payments to suppliers for goods and svcs Cash payments to employees for services Cash payments to other funds Other operating revenue Net Cash Provided by/(Used in) Operating Activities Noncapital Financing Activities: Operating grants received Transfers from other funds Net Cash Provided/(Used) by Noncapital Financing Activities Capital and Related Financing Activities: Proceeds from capital grants Acquisition of capital assets Principal paid on capital debt Interest paid on capital debt Proceeds from sale of capital assets Net Cash Provided/(Used) by Capital and Related Financing Activities Business -type Activities Enterprise Funds Major Funds Municipal Card Key Svc District Sound West Waste Bridge Airport $ 14,880,868 $ 1,228,312 $ 4,385,090 (12,411,897) (845,775) (6,338,063) (575,441) (466,057) (882,671) (331,313) (176,782) (269,866) 18,746 330 96,665 1,580,963 (259,972) (3,008,845) 191,176 - 5,337,207 191,176 - 5,337,207 1,530,842 3,892,670 (12,294) (204,649) (5,474,839) (402,494) - (144,046) - - (558,834) 1,326,193 (1,582,169) Investing Activities: Investment income 353,818 250,648 116,324 Net Cash Provided/(Used) in Investing Activities 353,818 250,648 116,324 Net Increase/(Decrease) in Cash and Cash Equivalents Cash and Cash Equivalents: October 1 September 30 1,567,123 1,316,869 862,517 10,484,813 8,329,025 4,620,676 $ 12,051,936 $ 9,645,894 $ 5,483,193 The notes to the financial statements are an integral part of these statements. E-26 Governmental Major Funds Activities Internal Marathon Service Airport Total Funds $ 696,670 $ 21,190,940 $ 5,080,331 - - 15,636,128 (499,187) (20,094,922) (15,301,548) (179,997) (2,104,166) (1,013,517) (87,638) (865,599) (278,127) 651 116,392 556,534 (69,501) 1,757,355 4,679,801 75,021 5,603,404 - 22,150 22,150 1,473 97,171 5,625,554 1,473 159,026 5,582,538 - (258,599) (5,950,381) (31,273) (402,494) - (144,046) - 1,024 (99,573) (914,383) (30,249) 21,671 742,461 504,615 21,671 742,461 504,615 (50,232) 3,696,277 5,155,640 620,448 24,054,962 17,396,981 $ 570,216 $ 27,751,239 $ 22,552,621 E-27 (Continued) MONROE COUNTY, FLORIDA STATEMENT OF CASH FLOWS -CONTINUED PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2005 Business -type Activities Enterprise Funds Major Funds Municipal Card Key Svc District Sound West Waste Bridge Airport Reconciliation of operating income/(loss) to net cash provided by/(used in) operating activities: Operating income/(loss) $ 221,859 $ 298,075 $ (4,819,131) Adjustments to reconcile operating income/(loss) to net cash provided by/(used in) operating activities: Depreciation and Amortization Change in Assets and Liabilities: (Increase)/Decrease in Accounts receivable (Increase)/Decrease in Due from other funds (Increase)/Decrease in Due from other gov't units Increase/(Decrease) in Accounts payable Increase/(Decrease) in Accrued wages/benefits Increase/(Decrease) in Claims/judgments payable Increase/(Decrease) in Due to other funds Increase/(Decrease) in Due to other gov't units Increase/(Decrease) in Comp.absences payable Increase/(Decrease) in Other current liabiliities Increase/(Decrease) in Deposits in escrow Increase/(Decrease) in Landfill Closure Costs Total adjustments Net Cash Provided by/(Used in) Operating Activities 49,445 218,050 795,169 7,245 6,748 114,184 15,156 - - 518,110 - 319 896,655 (745,926) 52,915 (21,848) (22,347) (45,238) - 16 (27,800) (57,922) (913) 921,843 (15,116) (13,375) (1,106) (443) - - (26,500) (300) - (5,678) - - 1,359,104 (558,047) 1,810,286 $ 1,580,963 $ (259,972) $ (3,008,845) Noncash investing, capital, and financing activities: Contribution of capital assets from gov't $ 466 $ - $ - Loss on disposition of assets Forgiveness of capital lease amount Cash Reconciliation: Unrestricted Restricted Total $ (1,409) $ (1,525) $ (4,810) $ 50,000 $ - $ $ 10,343,765 $ 9,645,894 $ 2,244,262 1,708,171 - 3,238,931 $ 12,051,936 $ 9,645,894 $ 5,483,193 The notes to the financial statements are an integral part of these statements. E-28 Major Funds Marathon Airport Total Governmental Activities Internal Service Funds $ (658,564) $ (4,957,761) $ 4,088,619 490,263 1,552,927 79,507 22,423 150,600 39,573 5,650 20,806 (1,473) - 518,429 (79,173) 105,550 309,194 82,900 (5,443) (94,876) (43,288) - - 520,146 (400) (28,184) 5,665 (1,541) 861,467 21,927 (27,439) (57,036) (35,096) - (443) 494 - (26,800) - - (5,678) - 589,063 3,200,406 591,182 $ (69,501) $ (1,757,355) $ 4,679,801 $ 3,075 $ 3,541 $ 1,223 $ (1,261) $ (9,005) $ (23,360) $ - $ 50,000 $ - 570,216 $ 22,804,137 $ 22,552,62' - 4,947,102 $ 570,216 $ 27,751,239 $ 22,552,621 E-29 MONROE COUNTY, FLORIDA STATEMENT OF FIDUCIARY NET ASSETS FIDUCIARY FUNDS SEPTEMBER 30, 2005 ASSETS Cash and Cash Equivalents Accounts Receivable Total Assets LIABILITIES Accounts Payable Due to Others Due to Other Governmental Units Total Liabilities NET ASSETS Held in Trust for Pension Benefits and Other Purposes Fire and EMS Pension Trust Fund Agency Funds $ 640,215 $ 7,927,209 - 13,610 640,215 $ 7,940,819 4,200 $ - - 3,530,227 - 4,410,592 4,200 $ 7,940,819 $ 636,015 The notes to the financial statements are an integral part of these statements. E-30 MONROE COUNTY, FLORIDA STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS FIDUCIARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2005 Additions: Employer Contributions Investment Income Total Additions Deductions: Administration Change in Net Assets Total Net Assets- October 1 Total Net Assets- September 30 Fire and EMS Pension Trust Fund $ 58,904 16,271 75,175 (8,400) 66,775 569,240 $ 636,015 The notes to the financial statements are an integral part of these statements. E-31 THIS PAGE INTENTIONALLY LEFT BLANK MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following summary of the more significant accounting policies of the Monroe County, Florida (County) is presented to assist the reader in interpreting these financial statements and should be viewed as an integral part of this report. Reporting Entity - Entity status for financial reporting purposes is governed by Statement No. 14 of the Governmental Accounting Standards Board (GASB) and Rules of the Auditor General, State of Florida. The GASB is the standard -setting body for the establishment of accounting principles generally accepted in the United States of America (GAAP) for governmental entities. Determination of the financial reporting entity of the County is founded upon the objective of accountability. Therefore, these financial statements include the County government (the primary government) and legally separate component units for which operational or financial responsibility rests with the elected officials of the County or for which the nature and significance of their relationship to the County are such that exclusion would cause the financial statements to be misleading or incomplete. Operational or financial responsibility is considered to have been met if the primary government appoints a voting majority of the component unit's governing board and it is able to impose its will on the unit or there is potential for the unit to provide specific financial benefits or impose specific financial burdens on the primary government. All component units of the County have a September 30 fiscal year end. The County is a Non -Charter County established as provided by Article VIII Section 1 of the Florida Constitution and Section 125 of the Florida Statutes. The Board of County Commissioners, composed of five members, is the legislative body for the County and as such budgets and provides funding used by the separate Constitutional Offices with the exception of fees collected by the Clerk of Circuit Court and the Tax Collector. The County Administrator also serves as the principal executive officer. In addition, certain designated governmental functions are performed by constitutional officers who are elected at -large. The constitutional officers are the Clerk of the Circuit Courts, Property Appraiser, Sheriff, Supervisor of Elections, and Tax Collector. Although these five officers are operationally autonomous, they do not hold sufficient corporate powers of their own to be considered legally separate component units for financial reporting purposes. Therefore, they are reported together with the Board as part of the primary government. Under the direction of the Clerk of Circuit Court, the Monroe County Finance Department maintains the accounting system for the Board's operations, but excludes those of the Property Appraiser, Sheriff, Tax Collector, Clerk of the Circuit Court and Supervisor of Elections, each of which maintains its own accounting system. Services provided by the Board and accounted for within these financial statements include police services for unincorporated areas of the County; health and social services; emergency medical services; cultural and recreational programs; solid waste services and other governmental services. Blended component units are legally separate entities that are in substance part of the County's operation, as they either have governing bodies that are substantively the same as the County or they provide their services exclusively or almost exclusively to the County. The financial transactions of the component units are merged in with similar transactions of the County as part of the primary government. The blended component units of the County are as follows: F-1 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Monroe County Florida Comprehensive Plan Land Authority (MCLA) - The MCLA was created by Monroe County, Florida Ordinance 031-1986 pursuant to Florida Statute 380 and is considered a legally separate entity from Monroe County. Its purpose is to operate a land acquisition program in Monroe County, to implement the Monroe County Comprehensive Plan and address issues created by it. The Monroe County Board of County Commissioners serves as the governing board and is able to impose its will. Therefore, the MCLA, for financial reporting purposes, is considered a blended component unit of Monroe County, Florida and is presented as a special revenue fund of the County. Complete financial statements for MCLA can be obtained from MCLA's administrative office at 1200 Truman Avenue, Ste. 207, Key West, Florida 33040. Monroe County Industrial Development Authority (MCIDA) - The MCIDA was created by Monroe County, Florida Resolution pursuant to Florida Statute 159. The MCIDA serves to assist in financing and refinancing capital projects, which will foster economic development in the County. The Monroe County Board of County Commissioners serves as the governing board and is able to impose its will. Therefore, the MCIDA for financial reporting purposes, is considered a blended component unit of Monroe County, Florida. The MCIDA is not legally required to adopt a budget; however, the Board must authorize the issuance of bonded debt. Neither the MCIDA nor the County has any legal obligation for repayment of the revenue bonds of the MCIDA. As an issuer of "conduit" debt obligations, the MCIDA has no assets or liabilities. Discretely -presented component units are legally separate entities, which do not meet the criteria for blending. The Monroe County Housing Finance Authority (Authority) qualifies as a discretely presented component unit of the County and is reported in a separate column to emphasize it is legally separate from the County. Following is a description of the Authority: Monroe County Housing Finance Authority (Authority) - The legal authority by which the Authority, the discretely -presented component unit, was created is Section 159.604 of the Florida Statutes and Monroe County, Florida Ordinance 1019-1979. This Authority serves to finance dwelling accommodations for low, moderate, and middle income persons in Monroe County. Its five - member board is appointed by the Board of County Commissioners. There is no budget approval required by the Board, although there is an approval requirement for any bonded debt issuance. The County has no obligation to pay the outstanding debt of the Authority; however, it does have the power to remove an Authority board member without cause. Complete financial statements for MCHFA can be obtained from MCHFA's administrative office at 1400 Kennedy Drive, Key West, Florida 33040. Basis of Presentation: Government -wide Financial Statements: The statement of net assets and the statement of activities report information about the nonfiduciary activities of the primary government and its discretely presented component unit. Adjustments have been made to minimize the double counting of interfund activity. These statements distinguish between governmental activities and business -type activities. Governmental activities are primarily financed through taxes and intergovernmental revenues, while business -type activities are primarily financed through charges for services to external parties. The statement of activities presents a comparison between direct expenses of the program revenues for each function of the County's governmental activities, and for each of the business -type activities. F-2 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Direct expenses are those that are clearly identified with a specific program or segment. Program revenues include (a) fees, fines and charges for services, and (b) grants and contributions that are restricted for the operating or capital requirements of a specific program. All taxes and other revenues not meeting the criteria for classification as program revenues are reported as general revenues. Fund Financial Statements: The fund financial statements provide information about the County's funds, including its fiduciary fund and blended component unit. Separate statements for each fund category — governmental, proprietary, and fiduciary — are presented. The emphasis of fund financial statements is on major governmental and enterprise funds, each displayed in a separate column. All remaining governmental and enterprise funds are aggregated and reported as nonmajor funds. Proprietary fund operating revenues, such as charges for services, result from exchange transactions associated with the principal activity of the fund. Exchange transactions are those in which each party receives and gives up essentially equal values. Nonoperating revenues, such as subsidies and investment earnings, result from non -exchange transactions or ancillary activities. The following are reported as major governmental funds: General Fund - The General Fund is the general operating fund of the County. All general tax revenues and other receipts that are not required either legally or by accounting principles generally accepted in the United States of America to be accounted for in other funds are accounted for in the General Fund. Fine and Forfeiture Special Revenue Fund - The Fine and Forfeiture Fund is used to account for revenues received from fines and forfeitures imposed from the commission of statutory offenses, ad valorem taxes that are transferred to the Sheriff and to account for operations of the County's court support system. Road and Bridge Special Revenue Fund - The Road and Bridge Fund is used to account for all revenues, operating expenditures and capital improvements for the construction and maintenance of roads and bridges which are not grant funded. Governmental Grants Special Revenue Fund - The Governmental Grant Fund is used to account for operating revenues and expenditures for all governmental activity of federal and state grants. Sheriff HIDTA Grants Special Revenue Fund - The Sheriffs HIDTA Grants Fund is used to account for all revenues and expenditures for the ONDCP Programs. One Cent Infrastructure Surtax Capital Protect Fund - The One Cent Infrastructure Surtax Fund is used to account for capital improvements funded by the One Cent Infrastructure Surtax. Infrastructure Sales Surtax Revenue Bonds, Series 2003 Capital Project Fund — The Infrastructure Sales Surtax Revenue Bonds, Series 2003 Capital Project Fund is used to account for the proceeds of this bond issue. The following are reported as major enterprise funds: F-3 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Municipal Service District -Waste - The Municipal Service District -Waste Fund is used to account for the operations of solid waste collection, disposal and recycling activities, as well as the closure and post closure of the landfills. Card Sound Bridge - The Card Sound Bridge Fund is used to account for the operations of Monroe County's Card Sound Toll Bridge. Key West Airport - The Key West Airport Fund is used to account for the operations of Monroe County's Key West International Airport. Marathon Airport — The Marathon Airport Fund is used to account for the operations of Monroe County's Marathon Airport. The County also reports the following fund types: Internal Service Funds - Internal service funds are used to account for the financing of workers compensation insurance, health insurance, general liability insurance and fleet maintenance services provided by one department to other departments of the Board or to other governmental units on a cost reimbursement basis. Pension Trust Fund - The pension trust fund is used to account for assets held by the Board in a trustee capacity for a volunteer firefighters and emergency services length of service award plan. Agency Funds — These funds account for assets held on behalf of third parties and do not involve the measurement of operating results. Examples include taxes, fees, and fines collected on behalf of other governments. Measurement Focus and Basis of Accounting: Government -wide, Proprietary, and Fiduciary Fund Financial Statements - The government -wide, proprietary fund, and pension trust fund financial statements use a flow of economic resources measurement focus and the accrual basis of accounting. Eliminations have been made to minimize the double counting of internal activities. Revenues and expenses that involve parties external to the primary government and interfund services provided and used are not eliminated in the process of consolidation. The agency funds have no measurement focus. Revenues are recognized when earned and expenses are recognized when incurred, regardless of when the related cash flows take place. Non -exchange transactions, in which the County gives (or receives) value without directly receiving (or giving) equal value in exchange, include property taxes, grants, entitlements, and donations. On an accrual basis, revenue from grants, entitlements, and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied. Amounts reported as program revenues include 1) charges to customers or applicants for goods, services, or privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions, including special assessments. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes. F-4 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the County's enterprise funds are charges to customers for sales and services. Operating expenses for enterprise funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. Governmental Fund Financial Statements - Governmental fund financial statements are a current financial resources measurement focus, and are maintained on the modified accrual basis of accounting. Revenues are recognized when they become susceptible to accrual; that is, when they become both "measurable" and "available to finance expenditures of the current period." The County considers amounts collected within 60 days after year-end to be available and thus recognizes them as revenues of the current year, except for property taxes since such taxes are collected to finance expenditures of the subsequent period. Expenditures are recognized in the accounting period in which the related fund liability is incurred, if measurable. Principal and interest on general long-term debt are recorded as fund liabilities when due or when amounts have been accumulated in the debt service funds for payments to be made early in the following year. Revenues of the County, which are susceptible to accrual under the modified accrual basis of accounting, include property taxes, gas taxes, interest revenue, and charges for services. In applying the susceptibility -to -accrual concept to intergovernmental revenues, the legal and contractual requirements of the numerous individual programs are used as guidance. There are, however, essentially two types of these revenues. In one, monies must be expended for the specific purpose or project before any amounts will be paid to the County; therefore, revenues are recognized based upon the expenditures recorded. In the other, monies are virtually unrestricted as to purpose of expenditure and substantially irrevocable; i.e., revocable only for failure to comply with prescribed compliance requirements, such as with equal employment opportunity. These resources are reflected as revenues at the time of receipt or earlier if they meet the availability criterion. Under the terms of the grant agreements, the County funds certain programs by a combination of specific cost -reimbursement grants, categorical block grants, and general revenues. Thus when program expenses are incurred, there are both restricted and unrestricted net assets available to finance the program. It is the County's policy to first apply cost -reimbursement grant resources to such programs, followed by categorical block grants, and then by general revenues. GASB Statement No. 20 Election - Pursuant to the election option made available by GASB Statement No. 20, pronouncements of the Financial Accounting Standards Board (FASB) issued after November 30,1989 are not applied in the preparation of the County's government -wide and enterprise fund financial statements. Budgets and Budgetary Data - The following are the statutory procedures followed by the Board of County Commissioners (the Board) in establishing the budget for the County. 1) On or before June 1 of each year the Sheriff, the Clerk of the Circuit Court, the Tax Collector, and the Supervisor of Elections shall each submit to the Board a tentative budget for their respective offices for the ensuing fiscal year. F-5 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 2) Within fifteen days after certification of the ad valorem tax roll by the Property Appraiser, the County Budget Officer submits to the County a proposed budget for the fiscal year commencing the following October 1. The budget includes proposed expenditures and the means of financing them. 3) By Board resolution, a tentative budget is submitted to the public. Public hearings are held to obtain taxpayer comments. 4) Fifteen days after adoption of the tentative budget, a final budget is submitted for review and adoption at a final public hearing. 5) Prior to, or on September 30, the Board's budget is legally enacted through passage of a resolution. Accordingly all fund types have an adopted budget as required by Florida Statute 129.03. All funds have legally adopted budgets, except for the Law Library, Impact Fees -Fair Share Housing, Supervisor's Voter Education and Equipment, Sheriff's Teen Court, and Stock Island Wastewater Special Revenue Funds. 6) During the year, the Office of Management and Budget acts on intradepartmental budget changes that do not alter the total revenue or expenditures budgeted to a cost center. A cost center represents a particular area of Board operations or a department. All other budget changes (whether they are transfers between cost centers or alterations of total revenues and expenditures in a fund) are approved by the Board. Supplemental appropriations were necessary and the budgetary data presented herein was amended by the Board during the year. 7) Florida Statute 129, Section 7, as amended in 1978, provides that only expenditures in excess of total fund budgets are unlawful. However, because the Board acts on all budget changes between cost centers, this becomes the level of control. 8) Budgeted to Actual Expenditure reports are employed as a management control device during the year for all fund types. 9) Budgets for all funds are adopted on a basis consistent with accounting principles generally accepted in the United States of America (GAAP) for that fund type, except for mortgage loans made by governmental funds. The budget for the Comprehensive Plan Land Authority Special Revenue Fund is prepared on a basis consistent with accounting principles generally accepted in the United States of America, except that $700,000 of mortgage receipts are budgeted as operating activities and $25,731 of compensation accruals are not budgeted. 10) All appropriations lapse at year-end. Encumbrances - Encumbrance accounting, under which purchase orders, contracts, and other commitments for the expenditure of moneys are recorded as a reservation of budget, is employed as an extension of the statutorily required budgetary process. Under Florida Statutes, appropriations, even if encumbered, lapse at fiscal year end. Encumbrances outstanding at September 30, 2005, represented by purchase orders and other executory contracts, were approximately $281,005. It is the County's intention to substantially honor these encumbrances under authority provided in the subsequent year's budget. F-6 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Cash and Cash Equivalents — Cash balances for the majority of funds are pooled for investment purposes. Earnings from such investments are allocated to the respective funds based on applicable cash participation by each fund. The investment pools are managed such that all participating funds have the ability to deposit and withdraw cash as if they were demand deposit accounts, and therefore all balances representing participants' equity in the investment pools are classified as cash equivalents for purposes of these statements. For investments which are held separately from the pools, those which are highly liquid (including restricted assets), with an original or remaining maturity of 90 days or less, are considered to be cash equivalents. Investments - Florida Statute 218.415 authorizes local governments to invest its funds pursuant to a written investment plan. The County's investment policy allows investment of surplus funds in the following investments: a) The Florida Local Government Surplus Funds Trust Fund Investment Pool (SBA). b) United States Government Securities — Negotiable direct obligations, or obligations the principal and interest of which are unconditionally guaranteed by the United States Government. c) United States Government Agencies — Bonds, debentures, notes, callables and fixed rate mortgage -backed securities issued or guaranteed by United States Government Agencies, provided such obligations are backed by the full faith and credit of the United States. d) Federal Instrumentalities (United States Government -sponsored agencies) — Senior obligations, which include bonds, debentures, notes, callables and fixed rate mortgage - backed securities issued or guaranteed by United States government -sponsored agencies (Federal Instrumentalities). These are limited to the following: ■ Federal Farm Credit Bank (FFCB) ■ Federal Home Loan Bank or its County banks (FHLB) ■ Federal National Mortgage Association (FNMA) ■ Federal Home Loan Mortgage Corporations (Freddie -Macs) including Federal Home Loan Mortgage Corporation participation certificates. e) Interest -bearing Time Deposit or Savings Account — Non-negotiable interest -bearing time certificates of deposit or savings accounts in financial institutions organized under the laws of this state and/or in national financial institutions organized under the laws of the United States and doing business and situated in the State of Florida, provided that any such deposits are secured by the Florida Security for Public Deposits Act, Chapter 280, Florida Statutes. Additionally, the financial institution shall not be listed with any recognized credit watch information service. f) Registered Investment Companies (Money Market Mutual Funds) — Shares in open-end and no-load Money Market Mutual Funds provided such funds are registered under the Federal Investment Company Act of 1940 and operate in accordance with 17 C.F.R. 270.2a-7, which stipulates that money market funds must have an average weighted maturity of 90 days or less. In addition, the share value of the money market funds must equal to $1.00. g) Intergovernmental Investment Pool — Intergovernmental Investment Pools that are authorized pursuant to the Florida Interlocal Cooperation Act, as provided in Section 163.01, Florida Statutes. F-7 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) The County invests funds throughout the year in the Local Government Surplus Funds Trust Fund, an investment pool administered by the State Board of Administration of Florida. All investments are stated at fair value. Investments in the Local Government Surplus Funds Trust Fund Investment Pool, which is an external 2a7-like investment pool, are stated at share price, which is substantially the same as fair value. Accounts Receivable - Amounts due from private individuals, organizations, or other governments, which pertain to charges for services rendered by County departments are reported as accounts receivable. Receivables are reviewed periodically to establish or update the provisions for uncollectible amounts. These provisions are estimated based on an analysis of the age of the various accounts. Interfund Balances and Activity - During the course of normal operations, the County has numerous transactions between funds. Examples of theses transactions include providing services, constructing assets or servicing debt. These transactions are generally recorded as interfund transfers, except for internal service fund charges, which are reflected as revenues to internal service funds and expenses to expenditures to the funds receiving the services. Additionally, short-term interfund loans are recorded from time to time as cash flow needs arise. As of fiscal year-end, any unpaid amounts related to these transactions are reported as "due from other funds" or "due to other funds" on the fund financial statements, and "internal balances" on the government -wide financial statements. Interfund loans not expected to be repaid within one year are reported as advances. In governmental funds, advances, if any, are offset equally by a fund balance reserve, which indicates that they do not constitute expendable available financial resources and, therefore, are not available for appropriation. Inventory — Inventory in the General Fund consists of certain supplies, which are stated at cost using the moving average cost method. The inventory is determined by an annual physical count. No reserve has been established within the General Fund balance as the consumption method is used to account for this inventory. Capital Assets - Capital assets of the County include property, buildings, equipment, and infrastructure assets (e.g. roads, bridges, curbs and gutters, streets and sidewalks, drainage systems and lighting systems). Constructed or purchased assets are recorded at historical or estimated historical cost at the time of purchase. Donated assets are recorded at estimated fair market value at the date of donation. In accordance with GASB Statement No. 34, an extended period of deferral until September 30, 2006 fiscal year end is available before the County's infrastructure assets acquired prior to October 1, 2001 are required to be reported on the government -wide financial statements of the County. The County has elected to defer reporting of certain governmental infrastructure assets acquired prior to October 1, 2001. Pursuant to changes in Florida Statute 274.02, the County ad capitalization threshold for additions to equipment to $1,000 frc write-offs totaled approximately $127,000 and are reported as capitalized when the value is $15,000 or greater. Public dory represent major expenditures for such items as roads, water a landfill improvements, parks and drainage systems. Additions sewer, landfill and drainage infrastructure are capitalized when park additions and improvements are capitalized at $25,000. opted by resolution a change in the m $750. The net book value of the deletions in FY 2005. Buildings are ain and system infrastructure assets id sewer treatment plants and lines, and improvements for roads, water, the cost amounts to $250,000 while F-8 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Depreciation has been provided using the straight-line method. The estimated useful lives of the various classes of depreciable capital assets are as follows: Life — Years Buildings 10-50 Equipment 5-10 System infrastructure 10-50 Public domain infrastructure 20-50 Capacity rights 99 Restricted Assets - The use of certain assets of enterprise funds is restricted by specific provisions of bond resolutions and agreements with various parties. Assets so designated are identified as restricted assets on the balance sheet. When both restricted and unrestricted resources are available for use, the County's policy is to use restricted resources first, and then unrestricted resources, as they are needed. Property Taxes - Property taxes, based on assessed values at January 1, are levied and become due and payable on November 1st of each year. A four percent discount is allowed if the taxes are paid in November, with the discount declining by one percent each month thereafter. Taxes become delinquent on April 1st of each year, and tax certificates for the full amount of any unpaid taxes and assessments must be sold not later than June 1st of each year. No accrual for the property tax levy becoming due in November of 2004 is included in the accompanying fund financial statements, since such taxes are collected to finance expenditures of the subsequent period. Compensated Absences — County policy permits employees to accumulate a limited amount of annual and sick leave, which will be paid to employees upon termination of employment. In the government - wide and proprietary fund financial statements an expense and a liability for compensated absences and the salary -related payments are recorded as the leave is earned. Landfill Closure Costs - Under the terms of current state and federal regulations, the County is required to place a final cover on closed landfill areas, and to perform certain monitoring and maintenance functions for a period of up to 30 years after closure. In accordance with GASB Statement No. 18, the Board is recognizing these costs of closure and post closure maintenance over the active life of each landfill area, based on landfill capacity used during the period. Required obligations for these costs are recognized in the Municipal Service District -Waste enterprise fund for public landfill operations. Deferred Revenue - Deferred revenues include amounts collected before revenue recognition criteria are met. In the governmental fund statements, amounts associated with receivables which, under the modified accrual basis of accounting, are measurable but not yet available are reported as deferred revenues. The deferred items of the County consist primarily of contracts for providing services in the future and grant funds received in advance of expenditures. Long -Term Obligations — In the government -wide financial statements, and proprietary fund financial statements, long-term debt and other long-term obligations are reported as liabilities in the applicable governmental activities, business -type activities, or proprietary fund type statement of net assets. Bond premiums and discounts, as well as issuance costs, are deferred and amortized over the life of the bonds using the straight-line method that approximates the effective interest method. Bonds payable are reported net of the applicable bond premiums or discount. Bond issuance costs are reported as deferred charges and amortized over the term of the related debt. F-9 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 7 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) In fund financial statements, governmental fund types recognize bond premiums and discounts, as well as bond issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures. Use of Estimates - The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America, as applicable to governmental units, requires management to make use of estimates that affect the reported amounts in the financial statements. Actual results could differ from estimates. Reclassifications — Certain amounts presented in the prior year's data have been reclassified to be consistent with the current year's presentation. Net Assets — Net assets in the government -wide and proprietary fund financial statements are classified as invested in capital assets, net of related debt, restricted, and unrestricted. Restricted net assets represent constraints on resources that are either externally imposed by creditors, grantors, contributors, or laws or regulations of other governments or imposed by law through state statute. Fund Balances — In the governmental fund financial statements, reservations or restrictions of fund balance represent amounts that are not appropriable or are legally segregated for a specific purpose. Designations of fund balance represent tentative management plans that are subject to change. The governmental fund types classify fund balances as follows: Reserved Reserved for Encumbrances - portion of fund balance available to pay for any commitments related to purchase orders and contracts that remain unperformed at year-end. Reserved for Land Acquisition — portion of fund balance used for the operation of the Comprehensive Plan of the Land Authority. Reserved for Mortgage Loans — portion of fund balance offsetting mortgages receivable for the Comprehensive Plan Land Authority Special Revenue Fund because they are not available spendable resources. Reserved for Debt Service — portion of fund balance available to pay for any commitments related to outstanding debt at year-end. Unreserved Designated for Special Revenue — portion of fund balance is designated by the County in the Tourist Development Fund District I for beach nourishment projects. Undesignated - portion of total fund balance available for appropriation that is uncommitted at year-end. F-10 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 2 - CASH, CASH EQUIVALENTS AND INVESTMENTS The County maintains a cash and investment pool that is available for use by all funds except those whose cash and investments must be segregated due to bond covenants or other legal restrictions. As of September 30, 2005, the carrying value of the County's deposits and investments, other than that of the Pensions Trust Fund, with their respective credit ratings, was as follows: Investment Type Credit Rating Demand and time Deposits N/A Local Government Surplus Funds Trust Fund Unrated Repurchase Agreements N/A U.S. Government Treasuries N/A Federal instrumentalities -Discount notes A-1 + Federal instrumentalities -Notes and Bonds AAA Total fair value Fair Value $ 29,089,283 152,843,656 6,490,096 1,998,046 9,969,351 Less than 6 months 6 months to 1 year 1 to 3 years $ 29,089,283 $ - $ - 152,843,656 6,490,096 9,969,351 1,998,046 34,567,303 10,463,481 8,022,164 16,081,658 $ 234,957,735 $ 208,855,867 $ 8,022,164 $ 18,079,704 Credit Risk — The County's Investment Policy (Policy) limits credit risk by restricting authorized investments to the following: Florida Local Government Surplus Funds Trust Fund Investment Pool administered by Florida's State Board of Administration (a 2a7-like pool), direct obligations of the United States or its agencies and instrumentalities, money market mutual funds, and Intergovernmental Investment Pools authorized by the Florida Statutes. The Policy requires that investments in federal instrumentality debt be guaranteed by the full faith and credit of the U.S. Government sponsored agency, and that investments in money market mutual funds have a rating of AAAm or AAAm-G or better by Standard & Poor's (S&P) or other nationally recognized rating agency. All credit ratings indicated in the previous table are S&P ratings. Concentration of Credit Risk — The Policy establishes limitations on portfolio composition, both by investment type and by issuer, in order to control concentration of credit risk. The Policy provides the following maximum limits of the portfolio, with limits in any one issuer of the portfolio invested: Portfolio Maximum in Investment Type Maximum any one issuer Florida Local Government Surplus Funds Trust 100% n/a Fund United States Government Securities 100% n/a United States Government Agencies 50% 10% Federal Instrumentalities 80% 30% Maximum in callable securities 25% 25% Interest -bearing Time Deposit or Savings Accounts 10% 10% Money Market Mutual Funds 20% 10% Intergovernmental Investment Pool 10% n/a F-11 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 2 - CASH, CASH EQUIVALENTS AND INVESTMENTS (Continued) At September 30, 2005, the portion of the Board's investment portfolio invested in Federal instrumentalities is detailed as follows: Issue Federal Farm Credit Bank Federal Home Loan Bank Federal Home Loan Mortgage Corporation Federal National Mortgage Association (of which 2% is callable) Percent of Investment Portfolio 1% 6% 3% 10% Custodial Credit Risk — The Policy requires bank deposits secured as provided by Chapter 280, Florida Statutes. This law requires local governments to deposit funds only in financial institutions designated as qualified public depositories by the Chief Financial Officer of the State of Florida, and create the Public Deposits Trust Fund, a multiple financial institution pool with the ability to assess its member financial institutions for collateral shortfalls if a default or insolvency has occurred. Demand deposits are insured by the FDIC up to $100,000 at each financial institution, and amounts in excess of $100,000 are secured by the Public Deposits Trust Fund. At September 30, 2005, all of the County's bank deposits were in qualified public depositories. The Policy requires execution of a third -party custodial safekeeping agreement for all purchased securities, and requires that securities be held in the County's name. As of September 30, 2005, all of the County's investments are held in a bank's trust department in the County's name. Interest Rate Risk — The Policy limits the investment of three months of operating expenditures to twelve months. The Policy limits the investment of non current operating funds to five years. Restricted Cash and Cash Equivalents — The Board has the following unrestricted and restricted cash and cash equivalents at September 30, 2005: Unrestricted Cash and Cash Equivalents: Governmental Activities Governmental Funds Internal Service Funds Business -type Activities Total Unrestricted Cash and Cash Equivalents Restricted Cash and Cash Equivalents: Business -type Activities Total Cash and Cash Equivalents Local Government Demand Surplus Trust Fund Deposits Total $ 107,090,900 $ 22,460,851 $ 129,551,751 20,849,754 1,702,867 22,552,621 22,555,409 248,728 22,804,137 150,496,063 24,412,446 174,908,509 1,708,171 3,238,931 4,947,102 $ 152,204,234 $ 27,651,377 $ 179,855,611 At September 30, 2005, the fiduciary funds had pooled cash balances totaling $8,567,424 with the SBA and demand deposits comprising $639,423 and $7,928,001, respectively. F-12 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 2 - CASH, CASH EQUIVALENTS AND INVESTMENTS (Continued) Component Unit — At September 30, 2005, the Monroe County Housing Finance Authority maintained deposits totaling $54,351, which are insured by the FDIC up to $100,000. NOTE 3 — ACCOUNTS RECEIVABLE Accounts receivable, in the accompanying fund financial statements, are shown net of the allowance for doubtful accounts. The allowance is as follows: $819,452 for nonmajor governmental funds, $574,666 for the Municipal Service District -Waste Fund, and $26,252 for the Key West Airport Fund. NOTE 4 — MORTGAGES/NOTES RECEIVABLE Mortgages receivable at September 30, 2005 consist of the following: Other Governmental Funds: Local Housing Assistance Fund: Second Mortgages Receivable from individuals, collateralized by personal residences. Commencing in year sixteen of the mortgage, principal and accrued interest at 3% will be forgiven at the rate of 6.66% annually. The entire principal balance and accrued interest will be forgiven at the end of year thirty. If the residence is sold before the initiation of the forgiveness period, the full amount of the mortgage and accrued interest is due at closing. $ 129,056 Second Mortgages Receivable from individuals, collateralized by personal residences. Principal payments shall be deferred for the term of the first mortgage loan, or until the date the last payment is due on the first mortgage. Interest is not charged on the mortgages unless the mortgagor is in default, in which case the interest rate is 12% per annum from the date when payment of the second is due. The entire balance of the loan is intended to be forgiven. However, in the event the home is sold, transferred, rented, refinanced or the first mortgage loan is satisfied, the entire mortgage balance is due. 2,247,247 Second Mortgages Receivable from individuals, collateralized by personal residences. The entire balance of the mortgage will be forgiven over a ten year period at the rate of ten percent per year upon the anniversary of the mortgage, provided that the mortgagor complies with the mortgage covenants. The mortgages are interest free. 794,158 Mortgages Receivable due from individual, collateralized by personal residence, payable in annual installments of $1,500 over a ten-year period, interest free. 4,500 3,174,961 F-13 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 4 — MORTGAGES/NOTES RECEIVABLE (Continued) Affordable Housing Programs Fund: Second Mortgages Receivable from individuals, collateralized by land and buildings, payable in monthly installments of $3,622 including interest at 3%, final payment due March 1, 2004. Second Mortgages Receivable from individuals, collateralized by personal residences. The entire amount of the loan will be forgiven over a ten-year period at a rate of one fifth per year, beginning on the 7th anniversary of the completion of the construction of the improvements funded by the mortgage, provided that the mortgagor complies with the mortgage covenants. Governmental Grants Fund: Second Mortgages Receivable from individuals, collateralized by personal residences. The entire amount of the loan will be forgiven over a ten-year period at a rate of one fifth per year, beginning on the 7th anniversary of the completion of the construction of the improvements funded by the mortgage, provided that the mortgagor complies with the mortgage covenants. Comprehensive Plan Land Authority Fund: First mortgages due from not -for -profit agency, collateralized by land, payable in full August 2007, interest free. First mortgage due from governmental agency, collateralized by land, payable in full April 2028, interest free. First mortgage due from governmental agency, collateralized by land and building, payable in full May 2031, interest free. First mortgage due from governmental agency, collateralized by land, payable in full January 2034, interest free. First mortgage due from governmental agency, collateralized by land and building, payable in full September 2045, interest free. Third mortgage due from private company, collateralized by land, payable in full May 2050, interest free. Third mortgage due from private company, collateralized by land, payable in full September 2053, interest free. 269,337 18,236 287,573 32.540 13,984 382,554 1,500,000 2,210,000 59,025 1,089,000 1,500,000 6,754,563 F-14 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 4 — MORTGAGES/NOTES RECEIVABLE (Continued) One Cent Infrastructure Surtax Fund: Agreement with the Key Largo Wastewater Treatment District, whereby the County granted an interest free loan to the District in the amount of $914,285, of which $731,428 was provided by the County and $182,857 was provided by the Florida Keys Aqueduct Authority. Total Mortgages/Notes Receivable 914,285 As the mortgages receivable associated with the Local Housing Assistance fund are intended to ultimately be forgiven, an allowance for uncollectible accounts of $3,174,961 has been established. The mortgages receivable associated with the Affordable Housing Program, Governmental Grants, and One Cent InfrastructureSurtax funds are offset by an allowance for uncollectible accounts of $287,573, $32,540, and $914,285, respectively. A reserve of fund balance of $6,754,563 represents the mortgages receivable related to the Comprehensive Plan Land Authority Special Revenue Fund that are equally offset by a fund balance reserve, which indicates that they do not constitute "available spendable resources," even though they are a component of total assets. This also represents the difference in fund balance for the Comprehensive Plan Land Authority Special Revenue Fund on a GAAP basis versus the budgetary basis. NOTE 5 — DEFERRED/UNEARNED REVENUE The balance in deferred revenues in the fund financial statements (includes both the deferred and unearned revenue amounts below) and unearned revenues in the government -wide financial statements at year-end was comprised of the following elements: Deferred Unearned Revenue Revenue Accounts receivable (General) $ - $ 117,839 Grant funds not received (Governmental Grants) 1,172,409 51,898 Accounts receivable (Other Governmental) - 157,409 Unearned (Marathon Airport) - 293 1,172,409 $ 227,439 NOTE 6 — RESTRICTED ASSETS Restricted assets include those provided for the landfill escrow account and airport passenger facility charges. Total restricted assets as of September 30, 2005 are as follows: Cash and Enterprise Fund — Municipal Service District Waste _Cash Equivalents Landfill Closure Escrow $ 1,708,171 Enterprise Fund — Key West Airport Passenger Facility Charge Funds 3,238,931 $ 4,247, F-15 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 7 — CAPITAL ASSETS Capital assets activity for the year ended September 30, 2005 is as follows: Governmental activities: Capital assets not being depreciated: Land Construction in progress Total capital assets not being depreciated Capital assets being depreciated: Buildings Equipment Infrastructure Capacity Rights Total capital assets being depreciated Less accumulated depreciation for: Buildings Equipment Infrastructure Capacity Rights Total accumulated depreciation Total capital assets being depreciated, net Total Governmental Activities, capital assets, net Business -type activities: Capital assets not being depreciated: Land Construction in progress Total capital assets not being depreciated Capital assets being depreciated: Land Buildings Equipment System Infrastructure Total capital assets being depreciated Less accumulated depreciation for: Land Buildings Equipment System Infrastructure Total accumulated depreciation Total capital assets being depreciated, net Business -type activities, capital assets, net Balances Additions Reductions Balances $ 47,353,649 8,099,167 $ 10,641,477 6,647,464 $ (3,810,634) $ (5,174,613) 54,184,492 9,572,018 55,452,816 17,288,941 (8,985,247) 63,756,510 100,153,884 4,511,191 (7,986) 104,657,089 50,384,331 6,586,806 (5,222,185) 51,748,952 3,526,374 408,600 - 3,934,974 3,150,000 - - 3,150,000 157,214,589 11,506,597 (5,230,171) 163,491,015 28,212,125 2,675,195 - 30,887,320 26,362,394 5,435,070 (3,660,620) 28,136,844 177,175 190,538 - 367,713 - 31,818 - 31,818 54,751,694 8,332,621 (3,660,620) 59,423,695 102,462,895 104,067,320 157,915,711 167,823,830 Beginning Ending Balances Additions Reductions Balances $ 4,802,020 $ - $ - $ 4,802,020 3,937,325 4,623,603 (1,943,516) 6,617,412 8,739,345 4,623,603 (1,943,516) 11,419,432 212,925 - - 212,925 17,504,935 - - 17,504,935 3,405,119 193,078 (179,009) 3,419,188 25,428,444 2,081,978 - 27,510,422 46,551,423 2,275,056 (179,009� 48,647,470 212,925 - - 212,925 3,393,500 428,169 3,821,669 2,790,569 281,562 (175,267) 2,896,864 7,474,191 956,299 - 8,430,490 13,871,185 $ 1,666,030 $ (175,267) 15,361,948 32,680,238 33,285,522 $ 41,419,583 $ 44,704,954 An additional $16,886,723 will be required to complete the construction projects under present contractual agreements as of September 30, 2005. F-16 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 7 - CAPITAL ASSETS (Continued) Depreciation was charged to functions/programs on the statement of activities as follows: Governmental Activities: Business -type Activities: General Government $ 1,397,981 Municipal Service District -Waste $ 48,496 Public Safety 5,341,304 Card Sound Bridge 218,050 Physical Environment 78,820 Key West Airport 797,340 Transportation 260,877 Marathon Airport 602,144 Economic Environment 12,489 Total Business -type Activities $ 1,666,030 Human Services 303,764 Culture and Recreation 519,857 Court Related 417,529 Total Governmental Activities $ 8,332,621 Internal service fund capital asset information is included in the governmental activities on the government -wide financial statements, because the internal service funds predominately serve those activities. NOTE 8 - LONG-TERM DEBT The following is a summary of changes in long-term debt for the year ended September 20, 2005: Governmental Activities: Revenue bonds payable Revenue note payable Note payable Accrued compensated Capitalized lease obligations Other Total Gov'tl Activities Business -type Activities: Revenue note payable Accrued compensated Landfill closure costs Capitalized lease obligations Total Business -type Activities Total Long -Term Debt Beginning Balances Additions Payments Current Portion of Ending Long-term Balances Liabilities $ 20,350,000 $ - $ 1,145,000 $ 19,205,000 $ 1,170,000 2,919,718 - 547,869 2,371,849 563,078 25,439 - 5,985 19,454 6,485 6,046,447 2,657,067 2,583,078 6,120,436 587,285 1,463,102 575,238 571,893 1,466,447 630,827 1,400,000 - 1,400,000 32,204,706 3,232, 005 7 6,253,825 $ 29,183,186 2,957,675 $ 3,674,040 $ - $ 402,494 $ 3,271,546 $ 416,935 358,602 190,959 247,995 301,566 8,134 373,918 - 5,678 368,240 - 967,270 - 50,000 917,270 50,000 5,373,830 190,959 $ 706,167 4,858,622 475,069 $ 37,578,536 $ 3,423,264 $ 6,959,992 $ 34,041,808 $ 3,432,744 Internal service fund long-term debt information is included in the governmental activities on the government -wide financial statements, because the internal service funds predominately serve those activities. Also, for governmental activities compensated absences are generally liquidated by the applicable governmental fund. F-17 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 8 - LONG-TERM DEBT (Continued) Summary of Indebtedness The following is a summary of the County's bonds and notes as of September 30, 2005: Governmental Activities Revenue Bond: Infrastructure Sales Surtax Revenue Bonds, Series 2003 $ 19,205,000 Revenue Note: Guaranteed Entitlement Refunding Revenue Note, Series 2002 2,397,740 Less: Unamortized Discount (25,891) Total Revenue Note 2,371,849 Note Payable for vehicle purchase, interest free 19,454 Total Governmental Activities $ 21,596,303 Business -type Activities Revenue Note: Solid Waste System Refunding Revenue Note, Series 2002 $ 3,397,390 Less: Unamortized Discount (125,844) Total Business -type Activities $ 3,271,546 Debt Service Funding Requirements - The total annual debt service requirements for bonds and notes outstanding at September 30, 2005 are as follows: Governmental Activities Principal Interest Total 2006 $ 1,747,242 $ 700,303 $ 2,447,545 2007 1,801,651 659,994 2,461,645 2008 1,855,134 618,410 2,473,544 2009 1,913,167 570,620 2,483,787 2010 1,335,000 516,733 1,851,733 2011-2015 7,555,000 1,893,923 9,448,923 2016-2020 5,415,000 435,700 5,850,700 21,622,194 5,395,683 27,017,877 Business-twe Activities Principal Interest Total $ 437,909 $ 108,385 $ 546,294 452,841 93,197 546,038 468,283 77,492 545,775 484,252 61,251 545,503 500,765 44,457 545,222 1,053,340 36,220 1,089,560 3,397,390 421,002 3,818,392 Less: Unamortized Costs 25,891 - (25,891) (125,844) - (125,844) 21,596,303 $ 5,395,683 $ 26,991,986 $ 3,271,546 $ 421,002 $ 3,692,548 At September 30, 2005, the current portion of the unamortized discount for the governmental activities totals $25,891. F-18 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 8 - LONG-TERM DEBT (Continued) Long -Term Debt at September 30, 2005 is composed of the following issues: $21,455,000 Infrastructure Sales Surtax Revenue Bonds, Series 2003 Type: General Government Revenue Bonds Dated: March 2003 Final maturity: Year 2018 Principal payment date: April 1 Interest payment dates: April 1 and October 1 Interest rates: 2.0% to 4.0% Reserve requirement: None; MBIA insured. Revenue pledged: One Cent Local Government Infrastructure Sales Surtax Purpose: To construct and acquire equipment and capital improvements. Call provisions: First redemption date may not be later than 4/20/13 and no call premium may exceed 2% of the par amount redeemed. $3,495,144 Guaranteed Entitlement Refunding Revenue Note, Series 2002 Type: General Government Revenue Note Dated: December 2002 Final maturity: Year 2009 Principal payment date: December 1 Interest payment dates: June 1 and December 1 Interest rates: 2.96% Reserve requirement: None. Revenue pledged: Lien and pledge of Guaranteed Entitlement and Second Guaranteed Entitlement from the State Revenue Sharing Trust Fund provided by Chapter 219, Florida Statutes. Purpose: To refund on a current basis the $7,230,000 Monroe County, Florida Refunding Revenue Bonds, Series 1993. Call provisions: No prepayment penalty. Bank requires 10 days notice. 4,143,945 Solid Waste Disposal System Refundinq Revenue Note. Series 2002 Type: Enterprise Revenue Note Dated: December 2002 Final maturity: Year 2012 Principal payment date: October 1 Interest payment dates: April 1 and October 1 Interest rates: 3.41 % Reserve requirement: None on Note. Revenue pledged: Gross revenues from the solid waste disposal, collection and management systems. Purpose: To refund on a current basis the Monroe County Municipal Service District Refunding Improvement Bonds, Series 1991. Call provisions: No prepayment penalty. Bank requires 10 days notice. F-19 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 8 - LONG-TERM DEBT (Continued) Other Long -Term Debt On February 19, 2003, the Board approved a settlement agreement pertaining to a land use lawsuit. The agreement requires that the Board make payments totaling $5,900,000 to the plaintiffs. The first and second payments were made March 14, 2003 and February 14, 2004 in the sums of $2,500,000 and $2,000,000, respectively. The final payment of $1,400,000 was made in February, 2005. Infrastructure Sales Tax Revenues were available to fund the payments. NOTE 9 - DEFEASANCE OF DEBT In prior years, the County defeased revenue bonds by placing the proceeds of new bonds with an escrow agent in irrevocable trust accounts to provide for all future debt service payments on the old bonds. Accordingly, the trust account assets and liabilities for the defeased bonds are not included in the County's financial statements. The following schedule reflects the outstanding principal on refunded bonds, by issue, as of September 30, 2005: $2,155,000 Refunding Improvement Revenue Bonds, Series 1983; defeased on January 1, 1993 using proceeds from the Refunding Improvement Revenue Bonds, Series 1993/83 $ 940,000 $5,000,000 Improvement Revenue Bonds, Series 1988; defeased on May 1, 1993 using proceeds from the Refunding Revenue Bonds, Series 1993/88 2,340,000 Total Governmental Activities $3,280,000 $8,000,000 Municipal Service District Improvement Revenue Bonds, Series 1980; defeased on December 6, 1985 using proceeds from the $9,211,774 Municipal Service District Refunding Improvement Bonds, Series 1985 $ 5,370,000 $9,211,774 Municipal Service District Refunding Improvement Bonds, Series 1985; defeased on April 1, 1991 using proceeds from the Municipal Service District Refunding Improvement Bonds, Series 1991 5,310,000 $4,585,000 Card Sound Road and Bridge Improvement Revenue Bonds, Series 1993; defeased on March 8, 1994 using available cash 1,305,000 Total Business —type Activities $11,985,000 NOTE 10 - LEASE OBLIGATIONS Capitalized lease obligations are stated at the original fair market value of leased assets capitalized, less payments since the inception of the lease discounted at the implicit rate of interest in the lease. The future minimum debt reductions under capitalized leases consist of the following at September 30, 2005: F-20 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 10 - LEASE OBLIGATIONS (Continued) Fiscal year ending September 30: 2006 2007 2008 2009 2010 2011-2015 2016-2020 2021-2025 Total minimum payments Amounts representing interest Present value of net minimum lease payments Governmental Activities 683,781 489,514 215,878 164,740 22,846 1,576,759 (110,312) $ 1,466,447 Leased property which has been capitalized as of September 30, 2005 is as follows: Equipment Less: Accumulated Depreciation Governmental Activities $ 1,994,375 (198,295) $ 1,796,080 Business -type Activities $ 2,335,830 2,335,830 Business -type Activities $ 50,000 50,000 50,000 50,000 50,000 250,000 250,000 167,270 917,270 $ 917,270 Rental expense under cancelable operating leases for the current year amounted to $4,096,284. The City of Key West leases two properties with a cost of $441,073 from the MCLA. These properties, which are included in capital assets, are used to provide parking and city recreational facilities. The terms of the leases provide for rental of $1 per year for 30 years, expiring in the year 2022. Monroe County provides the MCLA's office space at no cost. NOTE 11 - INTERFUND BALANCES Interfund balances at September 30, 2005 are as follows: Payable Fund: General Road and Bridge Governmental Grants HIDTA One cent 2003 Infra Rev Bonds Nonmajor Governmental MSD Card Sound Bridge Key West Airport Marathon Airport Internal Service Total Receivable Fund: Fine & Road and Governmental One Cent Nonmajor Internal General Forfeiture Bridge Grants HIDTA Infrastructure Governmental MSD Service Total $ 144,494 $ $ $ 36,839 $27,0% $ - $ 115,025 $ 877 $ $ 324,334 606,023 29,234 - 2,008 637,265 99,914 1,667 20,205 - 451 49,967 88 172,292 5,849 - - - - - - 5,849 163,976 - 17,450 - 181,426 - - 2,000 - 2,000 4,548,413 409,416 - 193,724 812 1,473 5,153,838 466,721 - - - - - - 466,721 244,549 267 244,816 161,838 - 161,838 100,826 - - 100,826 451,585 451,585 $6,994,188 $ 1,667 $20,205 $ 492,939 $27,099 $ 2,451 $ 358,716 $4,052 $ 1,473 $7,902,790 F-21 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 11 - INTERFUND BALANCES (Continued) During the course of operations, transactions occur which result in amounts owed to a particular fund by another fund, other than for goods provided or services rendered. These receivables and payables are due within a year and are classified as "Due from other funds/Due to other funds" on the governmental funds balance sheet or proprietary fund statement of net assets. NOTE 12 - INTERFUND TRANSFERS Interfund transfers at September 30, 2005 were as follows: From: To: Fine & Road and Governmental One Cent Nonmajor Marathon Internal General Forfeiture Bridge Grants Infrastructure Governmental Airport Service Total General $ - $ - $ $ 77,672 $ - $ 109,622 $ - $ - $ 187,294 Fine and Forfeiture 33,763,396 - - 21,194 - - - - 33,784,590 Road and Bridge 606,023 - - 29,234 - - - - 635,257 Governmental Grants 99,914 1,667 20,205 1,924 - 48,494 - 172,204 One Cent 163,976 - - 17,450 - 2,111,362 - - 2,292,788 Nonmajor Governmental 8,576,961 - - 416,782 451 - - 1,473 8,995,667 MSD 466,721 - - - - - - - 466,721 Card Sound Bridge 244,549 - - - - - - - 244,549 Key West Airport 161,838 - - - - - 22,150 - 183,988 Marathon Airport 100,826 - - - - - - - 100,826 Internal Service 445,500 - - - - - - - 445,500 Total $44,629,704 $ 1,667 $20,205 $ 5 44,256 $ 451 $ 2,269,478 T 22,150 $1,473 $47,509,384 Transfers between the major funds, other nonmajor governmental and enterprise funds, and internal service funds were primarily to support the capital projects and operations of the funds. NOTE 13 - RISK MANAGEMENT The County is exposed to various risks of loss related to tort; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. During the fiscal years ended 1976, 1984 and 1988, the County established the Worker's Compensation, Group Insurance, and Risk Management Funds, respectively, as internal service funds to account for and finance its uninsured risks of loss. Under these programs, the Worker's Compensation provides $1,000,000 coverage per claim. The Group Insurance Fund provides self insured excess claims. Risk Management has a $5,000,000 excess insurance policy for general liability claims with a $100,000 self -insured retention, and building property damage is covered for the actual value of the building with a deductible between $100,000 and $250,000. Deductibles for windstorm and flood vary by location. The Board purchases commercial insurance for claims in excess of coverage provided by the funds and for all other risks of loss. Settled claims have not exceeded this commercial coverage in any of the past three years. F-22 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 13 - RISK MANAGEMENT (Continued) All funds of the County participate in the programs and make payments to the Worker's Compensation, Group Insurance and Risk Management Funds based on estimates of the amounts needed to pay prior and current year claims. The claims liabilities reported at September 30, 2004 are based on the requirements of Governmental Accounting Standards Board Statement No. 10, which requires that a liability for claims be reported if information prior to the issuance of the financial statements indicates that it is probable that a liability has been incurred at the date of the financial statements and the amount of the loss can be reasonably estimated. Changes in the claims liability amounts in fiscal year 2004 and 2005 were: Balance at September 30, 2003 Current year claims and changes in estimates Claim payments Balance at September 30, 2004 Current year claims and changes in estimates Claim payments Balance at September 30, 2005 NOTE 14 - RETIREMENT PLAN Florida Retirement System: Workers Group Risk Compensation Insurance Management $ 1,000,000 $ 4,045,491 $ 1,540,753 Total $ 6,586,244 909,089 10,288,730 180,358 11,378,177 (909,089) (11,026,324) (219,504) (12,154,917) 1,000,000 3,307,897 1,501,607 5,809,504 1,699,116 10,319,303 85,264 12,103,683 (966,864) (10,531,409) (85,264) (11,583,537) $ 1,732,252 $ 3,095,791 $ 1,501,607 $ 6,329,650 Plan Description — Substantially all full-time County employees are participants in the Florida Retirement System, (FRS), a multiple -employer, cost -sharing public employees defined benefit retirement system administered by the Florida Department 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 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 605, Florida Administrative Code. Amendments to the law can be made only by Act of the Florida legislature. The FRS provides for vesting of benefits after 6 years of credited service. Normal retirement benefits are available to employees who retire at or after age 62 with 6 or more years of service. Early retirement is available after 6 years of service with a 5% reduction in benefits for each year prior to the normal retirement age. Retirement benefits are based on age, average compensation and years -of -service credit where average compensation is computed as the average of an individual's five highest years of earnings. The Florida Division of Retirement issues a publicly available financial report that includes financial statements and required supplementary information for the FRS. The report may be F-23 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 14 - RETIREMENT PLAN (Continued) obtained by writing to Florida Division of Retirement, 2639 Monroe Street, Building C, Tallahassee, FL 32399-1560, or from the website www.frs.state.fl.us. Funding Policy — The FRS is noncontributory for members. Participating employer contributions are based upon state-wide rates established by the State of Florida. These rates are applied to employee salaries as follows: regular employees, 7.83%, special risk employees, 18.53%, special risk administrative support 9.92%; elected officials, 15.23%, senior management 10.45%, and DROP participants 9.33%. The County contributed to the plan an amount equal to 7.32% of covered payroll during the fiscal year ended September 30, 2005. The County's contributions made during the years ended September 30, 2005, 2004, and 2003 were $6,362,726, $6,138,165, and $6,097,710, respectively, equal to the required contribution requirements for each year. Therefore, the County does not have a pension asset or liability as determined in accordance with GASB Statement No.27. NOTE 15 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES Plan Description — The Monroe County, Florida Volunteer Firefighter and Emergency Medical Services Length of Service Award Plan (LOSAP) is a single -employer defined benefit pension plan administered by the Board. LOSAP provides retirement and death benefits to plan members and beneficiaries. Monroe County Ordinance 026-1999 defines the authority under which contribution and benefit provisions may be amended. This authority is presently held by the County. LOSAP had 189 participants for the plan year ended December 31, 2004. Separate, stand-alone financial statements for LOSAP are not provided. Funding Policy — The contribution requirements for plan members and the County are established and may be amended by the Board. Plan members are not required to contribute. The County contributes an amount determined by an actuarial study. Benefits are calculated based on years of service as the participants are unpaid volunteers. The current contribution rate is $312 per volunteer year of service. Contributions to the plan, along with benefits and refunds paid to participants are recorded when due and payable in accordance with the terms of LOSAP. Administrative costs are paid by the County. Annual Pension Cost and Net Pension Obligation Annual Required Contribution $ 58,904 Interest Adjustment - 58,904 Contributions Made 58,904 Increase in Net Pension Obligation Net Pension Obligation, beginning of year Net Pension Obligation, end of year $ F-24 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 15 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES (Continued) The annual required contribution for the past year was determined as part of the December 31, 2004 actuarial valuation using a variation of the aggregate actuarial cost method. This method does not identify or separately amortize unfunded actuarial liabilities. The actuarial assumptions included (a) 5.0% investment rate of return (b) no assumption for mortality pattern as it is inapplicable (c) no assumption for salary increases as benefits are not based on compensation and (d) no increase for inflation as benefits are based on a flat amount per year of service. The actuarial value of assets includes only the fair value of the assets. There was no unfunded actuarial accrued liability at December 31, 2004. Three Year Trend Information Annual Pension Cost Percentage of APC Net Pension Fiscal Year Ending (APC) Contributed Obligation 12/31/02 $ 89,437 100% $ 12/31/03 $ 73,840 100% $ 12/31/04 $ 58,904 100% $ NOTE 16 - POST RETIREMENT BENEFITS OTHER THAN PENSION In addition to the retirement plan described in the previous note, the County provides post retirement health care benefits in accordance with state statutes, to all employees who retire from the County with at least 10 years of service and have attained the age of 62; and who are enrolled in the County's group health plan. Currently 269 retirees are eligible for this post employment benefit. Expenditures for post retirement health care benefits, excluding claims, are recognized as the premiums are paid. During the year ended September 30, 2005 expenditures of $1,313,729 were recognized for post retirement health care. NOTE 17 — RECOGNITION OF CLOSURE AND POST CLOSURE COST As described in Note 1, current regulations of the U.S. Environmental Protection Agency (EPA) and the Florida Department of Environmental Protection (FDEP) require municipal solid waste landfills to place a final cover on closed landfill areas, and to maintain those areas for up to 30 years after closure. The County periodically obtains updated and revised estimates of total future closure and postclosure costs from its consulting engineers. All amounts recognized are based upon what it would cost to perform closure and postclosure functions in current dollars. Actual costs may be different due to inflation, changes in technology, or changes in laws and regulations. Recognition of the liability for closure and post closure costs is based on the landfill capacity used to date. The landfill capacity of the County's previously operated landfills is 100% used and has no remaining landfill life. Closure of these landfills was substantially completed during the year ended September 30, 1994. The County has another landfill site, which has never been used. Accordingly, no future closure cost is accruable except for post closure costs estimated to be incurred in the coming year. At September 30, 2005, the estimated future cost for postclosure maintenance, which is reported as a long-term liability in the Municipal Service District -Waste enterprise fund, totaled $368,240. F-25 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 17 — RECOGNITION OF CLOSURE AND POST CLOSURE COST (Continued) For the public landfill, accounted for in the Municipal Service District -Waste enterprise fund, expenses associated with the final closure and postclosure maintenance of landfill areas are recognized over the active life of those areas. These costs are recognized in each operating period based on the amount of waste received during that period, regardless of when cash disbursements are made for these costs. The cumulative effect of updated and revised estimates of closure -related costs is recognized in the period of the change to the extent it relates to current and past operations. The Florida Department of Environmental Protection approved a post closure operating plan, which permits the County to fund closure, and post closure costs as an operating expense using annual appropriations. The landfill is required by state and federal laws and regulations to make annual contributions to a cash escrow account to meet financial assurance requirements. In accordance with laws and regulations, the landfill had cash and investments of $1,708,171 held for these purposes at September 30, 2005. In the event closure escrows and interest earnings prove inadequate due to inflation, changes in technology or additional post closure care requirements, these costs may need to be covered by charges to service users. NOTE 18 — OPERATING LEASES The County leases certain office space, equipment and vehicles under operating lease agreements. The following is a schedule by years of minimum future rentals under noncancelable operating leases as of September 30, 2005: Year Ending September 30th 2006 2007 2008 2009 2010 Thereafter Total NOTE 19 - LITIGATION The County is a defendant in various lawsuits substantial amounts are claimed. In the opinion not result in judgments or settlements, which, i effect on the County's financial condition. $ 3,774,566 3,706,624 3,672,574 3,776,467 3,771,831 15,698,523 34,400,585 n and is involved in other disputes wherein of the County, these suits and claims should aggregate, would have a material adverse NOTE 20 - COMMITMENTS AND CONTINGENCIES Grant Programs - The County participates in a number of federally assisted grant programs. These programs are subject to financial and compliance audits by the grantors or their representatives. F-26 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 20 - COMMITMENTS AND CONTINGENCIES (Continued) Arbitrage Rebate - In accordance with the Tax Reform Act of 1986, any interest earnings on borrowed construction funds in excess of the interest costs are required to be rebated to the federal government. The County has estimated that there will be no significant liability for arbitrage rebate. Impact Fee Refunds - Unexpended or unencumbered funds arising from the collection of impact fees may be refunded within one year following the end of the sixth year from the date on which the impact fee was paid or within three months of the noncommencement of construction. NOTE 21 — CONDUIT DEBT IDA Health Care Facilities Revenue Bonds, Series _2003 - The Monroe County Industrial Development Authority approved the issuance of IDA Health Care Facilities Revenue Bonds, Series 2003, not to exceed $2,500,000 and for a loan by the Authority to the Guidance Clinic of the Middles Keys, Inc. to provide for the refinancing of certain outstanding indebtedness of the corporation and for financing certain capital improvements to the corporations health care facilities. Ownership of the acquired facilities is in the name of the private entity served by the bond issuance. Neither the County, the Authority, the State, nor any political subdivision thereof is obligated in any manner for the repayment of the bonds. Accordingly, the bonds are not reported as liabilities in the accompanying financial statements. Maturity of the Series 2003 Bonds is August 1, 2018. Industrial Development Bonds (North Key Largo Utility Corp. System), Series 2005 — The Monroe County Industrial Development Authority issued Industrial Development Revenue Bonds (North Key Largo Utility Corporation System), Series 2005 totaling $2,965,000 on September 1, 2005 for the exchange of a like principal of the $3,400,000 of Industrial Development Revenue Bonds issued in 1995 related to the North Key Largo Utility Corporation Project. Neither the County, the Authority the State, nor any political subdivision thereof is obligated in any manner for the repayment of the bonds. Accordingly, the bonds are not reported as liabilities in the accompanying financial statements. Maturity of the Series 2005 Bonds is March 1, 2025. NOTE 22 — KEY LARGO WASTEWATER TREATMENT DISTRICT AGREEMENT On December 15, 2005 the County entered into an agreement with the Key Largo Wastewater Treatment District (District) whereby the County granted an interest free loan to the District in the amount of $914,285, of which $731,428 was provided by the County and $182,857 was provided by the Florida Keys Aqueduct Authority. The purpose of the loan was to provide matching funds for the District's wastewater treatment and collection system wastewater grant; however, the County has also agreed to segregate any payments the District makes on the loan and to refund those payments to the District for use in wastewater treatment and collection projects within the District. Accordingly, the County's note receivable in connection with the loan has been fully reserved to reflect the conveyance of funds to the District associated with the agreement and was recorded in the One Cent Infrastructure Surtax Special Revenue Fund. The District's payments under the loan agreement are scheduled to be $91,429 annually, beginning July 1, 2008 and continuing through July 1, 2018. F-27 MONROE COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2005 NOTE 23 — SUBSEQUENT EVENT During October 2005, Monroe County sustained direct impact from a major hurricane. Subsequently, the County incurred costs associated with emergency protective measures and debris removal totaling approximately $37 million. Associated with these costs, the County expects approximately $34.7 million in reimbursements from federal and state agencies under disaster assistance programs. The County continues to work with state and federal agencies to determine the final amounts reimbursable for hurricane -related costs. The ultimate amount received will be influenced by pending determinations of numerous issues related to reimbursement requests, the ultimate result of which could differ substantially from the County's expected reimbursements. NOTE 24 — PROPOSED BOND ISSUANCE The County is discussing the issuance of $31 million in Key West Airport Bonds, which are currently in the draft stage. The bonds are expected to be approved for issuance in fiscal year 2006 to fund airport construction projects. F-28 COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES THIS PAGE INTENTIONALLY LEFT BLANK NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS AFFORDABLE HOUSING PROGRAMS To account for revenues and expenditures of various low income housing programs. LAW LIBRARY To account for all revenues and expenditures for the County's law library. TOURIST DEVELOPMENT DISTRICTS To account for the local option three -cent bed tax in five districts, all districts two cent, and administrative and promotional funds for the expenditures of advertising, promotions, and special events of the County Tourist Development Council. IMPACT FEES To account for the revenues and expenditures relating to impact fees collected for roadways, parks and recreation, libraries, solid waste, police facilities, fire and EMS, and fair share housing. FIRE AND AMBULANCE DISTRICTS To account for revenues and expenditures in districts for fire and ambulance services. UPPER KEYS HEALTH CARE SPECIAL TAXING DISTRICT To account for all transportation and hospitalization costs of Monroe County trauma patients in Dade County. UNINCORPORATED AREA SERVICE DISTRICTS To account for all revenues and expenditures for planning, building and zoning and parks and recreation services provided only to the unincorporated area of the County. LOCAL HOUSING ASSISTANCE SPECIAL REVENUE FUND — The Local Housing Assistance Fund is used to account for the revenues and expenditures for the administration and implementation of the State Housing Initiatives Partnership Program. MUNICIPAL POLICING To account for all revenues and expenditures for local road patrol law enforcement in the City of Marathon, City of Layton and Islamorada, Village of Islands. 911 ENHANCEMENT FEES To account for fees levied on each telephone access line in Monroe County for the enhancement of the 911 emergency telephone system. DUCK KEY SECURITY DISTRICT To account for the revenues and expenditures in providing security services for the Duck Key District. BOATING IMPROVEMENT To account for revenues and expenditures for providing boating -related activities, for removal of vessels and floating structures deemed a hazard to public safety and health, and for manatee and marine mammal protection and recovery. MISCELLANEOUS SPECIAL REVENUE To account for revenues and expenditures earmarked for specific purposes. (Continued) NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS — CONTINUED ENVIRONMENTAL RESTORATION To account for all revenue and expenditures for fines/fees collected and earmarked for environmental protection. LAW ENFORCEMENT TRUST To account for the funds used for the purpose of training police officers and supporting personnel in the prevention, investigation, detection and identification of crime. COURT FACILITY FEES To account for revenues collected upon the institution of any civil action, suit or proceeding to be used exclusively in providing and maintaining existing and future facilities for the use of the Circuit and County Court systems. DRUG ABUSE TRUST To account for assessments collected for drug abuse programs and to disburse assistance grants for drug abuse treatment and/or educational programs which meet the standards for qualification of such programs by the Department of Health and Rehabilitative Services. MARATHON MUNICIPAL SERVICE To account for the revenues and expenditures for municipal services for Marathon. WASTEWATER MTSU To account for the revenues and expenditures for wastewater services for Conch Key, Bay Point, Big Coppitt and Key Largo. STOCK ISLAND WASTEWATER To account for the revenues and expenditures for Stock Island wastewater. COMPREHENSIVE PLAN LAND AUTHORITY To account for the revenues and expenditures for purchasing unbuildable, recreational and conservational property and repackaging the property to meet the land use requirements. SHERIFF'S INMATE COMMISSARY To account for the revenues and expenditures of inmate telephone commissions, canteen revenues and other inmate programs. SHERIFF'S IMPACT SUPPORT To account for the revenues and expenditures relating to the administration of the South Florida Drug & Money Laundering Task Force. SHERIFF'S OFF -DUTY To account for the revenues, expenditures and related reimbursements for law enforcement services provided to other organizations. SHERIFF'S GRANTS To account for the revenues and expenditures relating to various grants. SHERIFF'S TEEN COURT To account for the revenues and expenditures pertaining to a program designed to deter juveniles who are becoming involved in crime. (Continued) NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS — CONTINUED SHERIFF'S SOUTH FLORIDA LAW ENFORCEMENT TRUST To account for the revenues and expenditures pertaining to South Florida Drug & Money Laundering Task Force. SHERIFF'S SHARED ASSET FORFEITURE To account for the revenues and expenditures of the Sheriff Department's shared asset forfeiture program. SHERIFF'S FEDERAL FORFEITURE To account for the Sheriff's revenues produced from forfeitures and expenditures in the prevention, investigation, detection and identification of crime. SHERIFF'S HIDTA ADMINISTRATIVE To account for the revenues of service fees collected for administering HIDTA grants. Expenditures relate to the costs of administering the grants. SHERIFF'S AIRPORT SERVICES To account for expenditures related to providing security at airports throughout the county. SHERIFF'S LAW ENFORCEMENT TRUST To account for expenditures to non-profit organizations to help deter drug use and juvenile delinquency. SHERIFF'S FINE AND FORFEITURE To account for the proceeds from state forfeitures received primarily from the South Florida Drug and Money Laundering Task Force. CLERK'S MODERNIZATION TRUST FUND To account for revenue received through an additional recording fee pursuant to Florida Statute 28.24(15)(d) to be used for equipment, equipment maintenance, training and technical assistance necessary to modernize the clerk's public records system. CLERK'S COURT RELATED To account for revenues and expenditures for providing court related services under the direction of the Clerk of the Circuit Court. SUPERVISOR'S VOTER EDUCATION & EQUIPMENT To account for revenue received through grants for the education of voters and the purchase of voter equipment. DEBT SERVICE FUNDS INFRASTRUCTURE SALES SURTAX REVENUE BONDS SERIES 2003 To account for accumulation of resources for, and payment of, interest and principal on the long-term debt incurred in the issuance of $21,455,000 in revenue bonds. CAPITAL PROJECT FUNDS CLERK'S REVENUE NOTE To account for the Clerk's network system from the Florida Local Government Finance Commission Loan. MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2005 ASSETS Cash and Cash Equivalents Accounts Receivable, Net Due from Other Funds Due from Other Governmental Units Mortgages/Notes Receivable Allowance for Mortgages/Notes Receivable Interest Receivable Total Assets LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable Retainage Payable Accrued Wages and Benefits Payable Due to Other Funds Due to Other Governmental Units Deferred Revenues Accrued Interest Payable Total Liabilities Fund Balances: Reserved for: Land Acquisition Mortgage Loans Debt Service Unreserved, Designated for Special Revenue Fund Unreserved, Undesignated Total Fund Balances Total Liabilities and Fund Balances SPECIAL Tourist Tourist Affordable Development Development Housing Law All Districts Admin & Promo Programs Library Two Cent Two Cent $ 293,006 $ 45,309 $ 3,377,609 $ 3,952,525 - - - 1,434 - 24,960 51,723 - - 18,489 38,312 287,573 - - - (287,573) - - $ 293,006 $ 45,309 $ 3,421,058 $ 4,043,994 $ 353,216 $ 370,910 82 1,288 60,734 135,146 18,138 6,071 432,170 513,415 293,006 45,309 2,988,888 3,530,579 293,006 45,309 2,988,888 3,530,579 $ 293,006 $ 45,309 $ 3,421,058 $ 4,043,994 G-1 REVENUE FUNDS Tourist Tourist Tourist Tourist Tourist Development Development Development Development Development District #One District #Two District #Three District #Four District Wive Impact Fees, Three Cent Three Cent Three Cent Three Cent Three Cent Roadways $ 4,204,593 $ 492,294 $ 1,133,348 $ 1,350,268 $ 1,093,929 $ 7,154,857 46,918 2,211 5,260 4,909 5,445 - 15,208 17,179 42,388 39,999 43,161 - $ 4,266,719 $ 511,684 $ 1,180,996 $ 1,395,176 $ 1,142,535 $ 7,154,857 $ 606,629 $ 4,466 $ 64,184 $ 87,711 $ 132,245 $ - 1,748 560 34 31 1,168 - 55,492 21,033 30,418 63,659 38,818 255,071 44,123 57 16,695 148 1 - 707,992 26,116 111,331 151,549 172,232 255,071 421,113 - - - - - 3,137,614 485,568 1,069,665 1,243,627 970,303 6,899,786 3,558,727 485,568 1,069,665 1,243,627 970,303 6,899,786 $ 4,266,719 $ 511,684 $ 1,180,996 $ 1,395,176 $ 1,142,535 $ 7,154,857 (Continued) G-2 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET- CONTINUED NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2005 ASSETS Cash and Cash Equivalents Accounts Receivable, Net Due from Other Funds Due from Other Governmental Units Mortgages/Notes Receivable Allowance for Mortgages/Notes Receivable Interest Receivable Total Assets LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable Retainage Payable Accrued Wages and Benefits Payable Due to Other Funds Due to Other Governmental Units Deferred Revenues Accrued Interest Payable Total Liabilities Fund Balances: Reserved for: Land Acquisition Mortgage Loans Debt Service Unreserved, Designated for Special Revenue Fund Unreserved, Undesignated Total Fund Balances SPECIAL Impact Fees, Parks and Impact Fees, Impact Fees, Impact Fees, Recreation Libraries Solid Waste Police Facilities $ 1,127,585 $ 525,228 $ 69,917 $ 248,351 - 1,083 - $ 1,127,585 $ 526,311 $ 69,917 $ 248,351 - - - 33,628 329 - - - 329 - - 33,628 1,127,256 526,311 69,917 214,723 1,127,256 526,311 69,917 214,723 Total Liabilities and Fund Balances $ 1,127,585 $ 526,311 $ 69,917 $ 248,351 G-3 REVENUE FUNDS Fire & Amb Upper Keys Unincorp. Impact Fees, District #1, Health Care Fire & Amb Area Service Impact Fees, Fair Share Lower and Special District #6, District, Fire & EMS Housing Middle Keys Taxing District Key Largo Parks & Rec. $ 257,192 $ 108,739 $ 2,079,753 $ 2,369,005 $ 679,655 $ 1,384,302 - - 355,799 - 4 - - - 32,525 - - 473 - - 683 - 242 64,399 $ 257,192 $ 108,739 $ 2,468,760 $ 2,369,005 $ 679,901 $ 1,449,174 $ - $ - $ 129,571 $ 2,529 $ 103,794 $ 57,572 - - 101,169 3,289 1,176 10,367 - - 532,883 26,677 101,475 299,313 - - 1,341 172 1,961 2,817 - - 764,964 32,667 208,406 370,069 257,192 108,739 1,703,796 2,336,338 471,495 1,079,105 257,192 108,739 1,703,796 2,336,338 471,495 1,079,105 $ 257,192 $ 108,739 $ 2,468,760 $ 2,369,005 $ 679,901 $ 1,449,174 (Continued) G-4 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET- CONTINUED NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2005 ASSETS Cash and Cash Equivalents Accounts Receivable, Net Due from Other Funds Due from Other Governmental Units Mortgages/Notes Receivable Allowance for Mortgages/Notes Receivable Interest Receivable Total Assets LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable Retainage Payable Accrued Wages and Benefits Payable Due to Other Funds Due to Other Governmental Units Deferred Revenues Accrued Interest Payable Total Liabilities Fund Balances: Reserved for: Land Acquisition Mortgage Loans Debt Service Unreserved, Designated for Special Revenue Fund Unreserved, Undesignated Total Fund Balances Total Liabilities and Fund Balances SPECIAL Unincorp. Area Service Local 911 Dist -Planning Housing Municipal Enhancement Bldg. & Zoning Assistance Policing Fees $ 6,676,068 $ 2,748,141 $ 930,436 $ 498,301 4,073 - - 23,417 15,147 - - 174 319,596 - 426 44,412 - 3,174,961 - - - (3,174,961) - - - 51,556 - - $ 7,014,884 $ 2,799,697 $ 930,862 $ 566,304 $ 245,755 $ 195,390 $ - $ 25,138 122,914 - - 1,138 1,167,799 - 52,357 - 3,256 163 5 - 6,150 - - - 1,545,874 195,553 52,362 26,276 5,469,010 2,604,144 878,500 540,028 5,469,010 2,604,144 878,500 540,028 $ 7,014,884 $ 2,799,697 $ 930,862 $ 566,304 G-5 REVENUE FUNDS Duck Key Miscellaneous Law Court Security Boating Special Environmental Enforcement Facility District Improvement Revenue Restoration Trust Fees $ 175,814 1,045 $ 1,139,538 37,180 $ 3,115,289 - $ 81,812 - $ 118,338 478 $ 1,240,768 - $ 176,859 $ 1,176,718 $ 3,115,289 $ 81,812 $ 118,816 $ 1,240,768 $ 7,320 - - - $ 61,953 49,359 - - $ 23,549 55,196 14,244 30,271 $ - - - - $ - - 19,889 - $ - - - - 7,320 111,312 123,260 - 19,889 - 169,539 1,065,406 2,992,029 81,812 98,927 1,240,768 169,539 1,065,406 2,992,029 81,812 98,927 1,240,768 $ 176,859 $ 1,176,718 $ 3,115,289 $ 81,812 $ 118,816 $ 1,240,768 (Continued) M. MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET- CONTINUED NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2005 SPECIAL Drug Marathon Conch Key Bay Point Abuse Municipal Wastewater Wastewater Trust Service MSTU MSTU ASSETS Cash and Cash Equivalents Accounts Receivable, Net Due from Other Funds Due from Other Governmental Units Mortgages/Notes Receivable Allowance for Mortgages/Notes Receivable Interest Receivable Total Assets LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable Retainage Payable Accrued Wages and Benefits Payable Due to Other Funds Due to Other Governmental Units Deferred Revenues Accrued Interest Payable Total Liabilities Fund Balances: Reserved for: Land Acquisition Mortgage Loans Debt Service Unreserved, Designated for Special Revenue Fund Unreserved, Undesignated Total Fund Balances Total Liabilities and Fund Balances $ 84,221 $ 1,730,030 $ 13,957 $ 52,296 16,187 195 725 $ 84,221 $ 1,746,217 $ 14,152 $ 53,021 $ - $ 3,055 $ 33 - - 3,088 - - 84,221 1,743,129 14,152 53,021 84,221 1,743,129 14,152 53,021 $ 84,221 $ 1,746,217 $ 14,152 $ 53,021 G-7 REVENUE FUNDS Big Coppitt Key Largo Comprehensive Sheriff s Sheriffs Wastewater Wastewater Stock Island Plan Land Inmate Impact MSTU MSTU Wastewater Authority Commissary Support $ 167,707 $ 845,986 $ 55,523 $ 8,026,902 $ 181,693 $ - _ _ - 52,680 - 499 13,247 487 210,492 5,284 10,344 _ - - 6,754,563 - - $ 168,206 $ 859,233 $ 56,010 $ 14,991,957 $ 239,657 $ 10,344 $ - $ 122,625 $ - $ 280 $ 3,987 $ - 27,236 - - _ - - - 18,868 10,344 3 - 2,231 601 - 122,628 - 29,747 23,456 10,344 1,635,215 - - - - 6,754,563 - 168,206 736,605 56,010 6,572,432 216,201 - 168,206 736,605 56,010 14,962,210 216,201 - $ 168,206 $ 859,233 $ 56,010 $ 14,991,957 $ 239,657 $ 10,344 (Continued) G-8 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET- CONTINUED NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2005 ASSETS Cash and Cash Equivalents Accounts Receivable, Net Due from Other Funds Due from Other Governmental Units Mortgages/Notes Receivable Allowance for Mortgages/Notes Receivable Interest Receivable Total Assets LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable Retainage Payable Accrued Wages and Benefits Payable Due to Other Funds Due to Other Governmental Units Deferred Revenues Accrued Interest Payable Total Liabilities Fund Balances: Reserved for: Land Acquisition Mortgage Loans Debt Service Unreserved, Designated for Special Revenue Fund Unreserved, Undesignated Total Fund Balances Total Liabilities and Fund Balances SPECIAL Sheriffs South Florida Sheriffs Sheriffs Sheriffs Law Enforce - Off -Duty Grants Teen Court ment Trust $ 65 $ - $ - $ 536,957 - 9,894 4,556 24,324 10,017 121,630 13,816 - $ 10,082 $ 131,524 $ 18,372 $ 561,281 10,017 121,630 - - 65 - 10,082 121,630 - - 9,894 18,372 561,281 - 9,894 18,372 561,281 $ 10,082 $ 131,524 $ 18,372 $ 561,281 G-9 REVENUE FUNDS Sheriffs Shared Sheriffs Sheriffs Sheriffs Sheriffs Sheriffs Asset Federal HIDTA Airport Law Enforce- Fine & Forfeiture Forfeiture Administrative Services ment Trust Forfeiture $ 4,806,769 $ 2,026,275 $ - $ - $ 153 $ 657,522 - 29,444 - - - - - 130,044 - - 153 - 1,274,254 19,889 - $ 4,806,769 $ 2,055,719 $ 130,044 $ 1,274,254 $ 20,042 $ 657,675 $ 35,799 $ 275,560 $ - $ - $ 15,859 $ 478 106,663 - 1,274,254 2,290 - - - - 1,893 - 56,869 - - _ 35,799 382,223 56,869 1,274,254 20,042 478 4,770,970 1,673,496 73,175 - - 657,197 4,770,970 1,673,496 73,175 - - 657,197 $ 4,806,769 $ 2,055,719 $ 130,044 $ 1,274,254 $ 20,042 $ 657,675 (Continued) G-10 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET- CONTINUED NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2005 ASSETS Cash and Cash Equivalents Accounts Receivable, Net Due from Other Funds Due from Other Governmental Units Mortgages/Notes Receivable Allowance for Mortgages/Notes Receivable Interest Receivable Total Assets LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable Retainage Payable Accrued Wages and Benefits Payable Due to Other Funds Due to Other Governmental Units Deferred Revenues Accrued Interest Payable Total Liabilities Fund Balances: Reserved for: Land Acquisition Mortgage Loans Debt Service Unreserved, Designated for Special Revenue Fund Unreserved, Undesignated Total Fund Balances Total Liabilities and Fund Balances SPECIAL REVENUE FUNDS Clerk's Clerk's Supervisor's Modernization Court Voter Educ. & Trust Related Equipment $ 1,549,002 $ 1,145,694 $ 64,699 8,936 24,262 - $ 1,557,938 $ 1,169,956 $ 64,699 $ 144,871 $ 146,200 $ - 650,887 13,455 - 308,750 - - 64,119 - 144,871 1,169,956 13,455 1,413,067 - 51,244 1,413,067 - 51,244 $ 1,557,938 $ 1,169,956 $ 64,699 G-11 Total Nonmajor Special Revenue Funds DEBT CAPITAL SERVICE PROJECT FUND FUND Infrastructure Sales Surtax Cler Revenue Bonds, Reve Series 2003 No Not $ 70,617,421 $ 634,216 $ 466,851 - 358,716 - 2,414,544 - 10,217,097 - (3,462,534) - 51,556 - Total k's Nonmajor nue Governmental Funds 89,945 $ 71,341,582 - 466,851 - 358,716 - 2,414,544 - 10,217,097 - (3,462,534) - 51,556 $ 80,663,651 $ 634,216 $ 89,945 $ 81,387,812 $ 3,220,646 $ - $ 2,400 $ 33,628 - - 272,529 - - 5,153,838 - - 442,657 - - 157,409 - - - 314,665 - 9,280,707 314,665 2,400 1,635,215 - - 6,754,563 - - - 319,551 - 421,113 - - 62,572,053 - 87,545 71,382,944 319,551 87,545 $ 80,663,651 $ 634,216 $ 3,223,046 33,628 272,529 5,153,838 442,657 157,409 314,665 9,597,772 1,635,215 6,754,563 319,551 421,113 62,659,598 71,790,040 89,945 $ 81,387,812 G-12 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2005 SPECIAL Tourist Tourist Affordable Development Development Housing Law All Districts Admin & Promo Programs Library Two Cent Two Cent Revenues: Taxes $ - $ - $ 3,021,695 $ 6,261,547 Licenses and Permits - - - - Intergovernmental - - - - Charges for Services - - 43,449 90,036 Fines and Forfeitures - - - - Investment Income 8,074 1,199 91,352 94,514 Miscellaneous 7,153 - - 165 Total Revenues 15,227 1,199 3,156,496 6,446,262 Expenditures: Current: General Government - - - Public Safety - - - - Physical Environment - - - - Economic Environment - - 3,368,450 6,546,896 Human Services - - - - Culture and Recreation - - - - Court Related - - - - Capital Projects - - - _ Debt Service - - - - Total Expenditures - - 3,368,450 6,546,896 Excess/Deficiency of Revenues Over/(Under) Expenditures 15,227 1,199 (211,954) (100,634) Other Financing Sources/(Uses): Transfers from Other Funds - - Transfers to Other Funds - - (60,734) (135,146) Capital Lease Acquisition - - Total Other Financing Sources/(Uses) - - (60,734) (135,146) Net Change in Fund Balances 15,227 1,199 (272,688) (235 780) Fund Balances -October 1 277,779 44,110 3,261,576 3,766,359 Fund Balances -September 30 $ 293,006 $ 45,309 $ 2,988,888 $ 3,530,579 G-13 REVENUE FUNDS Tourist Tourist Tourist Tourist Tourist Development Development Development Development Development District #One District #Two District #Three District #Four District #Five Impact Fees, Three Cent Three Cent Three Cent Three Cent Three Cent Roadways $ 2,485,560 $ 267,610 $ 636,728 $ 594,310 $ 657,413 $ - 35,740 3,848 9,156 8,545 9,453 - 118,129 13,764 34,068 36,233 29,415 191,420 23,702 - - - - 168,707 2,663,131 285,222 679,952 639,088 696,281 360,127 2,350,186 249,484 653,524 625,188 579,586 - 2,350,186 249,484 653,524 625,188 579,586 - 312,945 35,738 26,428 13,900 116,695 360,127 160 - - - 15 - (55,492) (21,033) (30,418) (37,433) (38,818) (255,071) (55,332) (21,033) (30,418) (37,433) (38,803) (255,071) 257,613 14,705 (3,990) (23,533) 77,892 105,056 3,301,114 470,863 1,073,655 1,267,160 892,411 6,794,730 $ 3,558,727 $ 485,568 $ 1,069,665 $ 1,243,627 $ 970,303 $ 6,899,786 (Continued) G-14 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -CONTINUED NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2005 SPECIAL Impact Fees, Parks and Impact Fees, Impact Fees, Impact Fees, Recreation Libraries Solid Waste Police Facilities Revenues: Taxes $ - $ - $ - $ - Licenses and Permits - - - - Intergovernmental - - - - Charges for Services - - - - Fines and Forfeitures - - - - Investment Income 28,708 13,034 3,119 6,167 Miscellaneous 66,640 54,242 11,871 24,011 Total Revenues 95,348 67,276 14,990 30,178 Expenditures: Current: General Government - - - - Public Safety - - - - Physical Environment - - 130,212 - Economic Environment - - - - Human Services - - - - Culture and Recreation 6,482 - - - Court Related - - - - Capital Projects - - - - Debt Service - - - - Total Expenditures 6,482 - 130,212 - Excess/Deficiency of Revenues Over/(Under) Expenditures 88,866 67,276 (115,222) 30,178 Other Financing Sources/(Uses): Transfers from Other Funds - - - - Transfers to Other Funds - - - - Capital Lease Acquisition - - - - Total Other Financing Sources/(Uses) - - - - Net Change in Fund Balances 88,866 67,276 (115,222) 30,178 Fund Balances -October 1 1,038,390 459,035 185,139 184,545 Fund Balances -September 30 $ 1,127,256 $ 526,311 $ 69,917 $ 214,723 G-15 REVENUE FUNDS Fire & Amb Upper Keys Unincorp. Impact Fees, District #1, Health Care Fire & Amb Area Service Impact Fees, Fair Share Lower and Special District #6, District, Fire & EMS Housing Middle Keys Taxing District Key Largo Parks & Rec. $ 6,392,566 $ - $ 1,234,393 $ 1,028,381 - - 17,336 - - 703,658 - - 472,484 - - 64,770 6,493 921 99,931 68,913 22,998 36,906 18,808 92,173 41,170 - 109 31,360 25,301 93,094 7,023,487 68,913 1,257,500 1,865,075 5,902,877 - 843,553 - - - - 343,294 - - - - 1,483,498 - 157,236 - 165,210 - 6,060,113 343,294 1,008,763 1,483,498 25,301 93,094 963,374 (274,381) 248,737 381,577 97,772 - - 150,473 - (848,049) (26,677) (158,612) (299,160) - - (750,277) (26,677) (158,612) (148,687) 25,301 93,094 213,097 (301,058) 90,125 232,890 231,891 15,645 1,490,699 2,637,396 381,370 846,215 $ 257,192 $ 108,739 $ 1,703,796 $ 2,336,338 $ 471,495 $ 1,079,105 (Continued) G-16 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -CONTINUED NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2005 Revenues: Taxes Licenses and Permits Intergovernmental Charges for Services Fines and Forfeitures Investment Income Miscellaneous Total Revenues Expenditures: Current: General Government Public Safety Physical Environment Economic Environment Human Services Culture and Recreation Court Related Capital Projects Debt Service Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Transfers from Other Funds Transfers to Other Funds Capital Lease Acquisition Total Other Financing Sources/(Uses) Net Change in Fund Balances Fund Balances -October 1 Fund Balances -September 30 SPECIAL Unincorp. Area Service Local 911 Dist -Planning Housing Municipal Enhancement Bldg. & Zoning Assistance Policing Fees $ 801,414 $ - $ 3,462,646 $ - 2,455,667 - - - 2,018,291 599,168 - - 433,775 - 2,751,512 449,993 95,715 - - - 215,854 75,066 36,636 13,702 28,242 382,437 - 1,185 6,048,958 1,056,671 6,250,794 464,880 4,502,188 - - - 3,234,680 - 805,455 439,536 593,434 - - - - 1,154,103 - - 8,330,302 1,154,103 805,455 439,536 (2,281,344) (97,432) 5,445,339 25,344 15,147 - - 174 (1,225,696) - (5,699,526) - (1,210,549) - (5,699,526) 174 (3,491,893) (97,432) (254,187) 25,518 8,960,903 2,701,576 1,132,687 514,510 $ 5,469,010 $2,604,144 $ 878,500 $ 540,028 G-17 REVENUE FUNDS Duck Key Miscellaneous Law Court Security Boating Special Environmental Enforcement Facility District Improvement Revenue Restoration Trust Fees - - 19,946 - - - 1,039 560,345 754,644 - - 374,405 - - 293,848 45,674 50,311 - 4,301 29,765 66,835 1,743 2,840 26,349 72,796 - 18,758 - - - 78,136 590,110 1,154,031 47,417 53,151 400,754 2,153 - - - - 46,426 - 226,580 - 125,145 - - 463,673 - 15,743 - - - 7,589 - - - - 65,183 - - - - 18,721 - - - - 6,603 - - - 48,579 463,673 324,676 15,743 125,145 - 29,557 126,437 829,355 31,674 (71,994) 400,754 - - 35,537 - - - - (48,720) (55,082) - - - - (48,720) (19,545) - - - 29,557 77,717 809,810 31,674 (71,994) 400,754 139,982 987,689 2,182,219 50,138 170,921 840,014 $ 169,539 $ 1,065,406 $ 2,992,029 $ 81,812 $ 98,927 $ 1,240,768 G-18 (Continued) MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -CONTINUED NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2005 Revenues: Taxes Licenses and Permits Intergovernmental Charges for Services Fines and Forfeitures Investment Income Miscellaneous Total Revenues Expenditures: Current: General Government Public Safety Physical Environment Economic Environment Human Services Culture and Recreation Court Related Capital Projects Debt Service Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Transfers from Other Funds Transfers to Other Funds Capital Lease Acquisition Total Other Financing Sources/(Uses) Net Change in Fund Balances Fund Balances -October 1 Fund Balances -September 30 SPECIAL Drug Marathon Conch Key Bay Point Abuse Municipal Wastewater Wastewater Trust Service MSTU MSTU $ - $ 1,132,226 $ 13,749 $ 51,114 11,993 16,030 194 719 1,987 39,813 322 1,224 13,980 1,188,069 14,265 53,057 33,218 403 1,489 176,807 - - 210,025 403 1,489 13,980 978,044 13,862 51,568 13,980 978,044 13,862 51,568 70,241 765,085 290 1,453 $ 84,221 $ 1,743,129 $ 14,152 $ 53,021 G-19 REVENUE FUNDS Big Coppitt Wastewater MSTU Key Largo Wastewater MSTU Stock Island Wastewater Comprehensive Plan Land Authority Sheriff s Inmate Commissary Sheriffs Impact Support $ 164,890 $ 928,397 $ - $ - $ - $ ' - - - 3,150,766 - - 483 13,086 483 - 416,299 141,255 2,833 20,570 918 262,715 3,049 - - - 54,609 - 62,289 - 168,206 962,053 56,010 3,413,481 481,637 141,255 27,119 - 6,730,779 - - - - - 352,034 141,255 432,065 - - - - 459,184 - 6,730,779 352,034 141,255 168,206 502,869 56,010 (3,317,298) 129,603 - 168,206 502,869 56,010 (3,317,298) 129,603 - - 233,736 - 18,279,508 86,598 - $ 168,206 $ 736,605 $ 56,010 $ 14,962,210 $ 216,201 $ - (Continued) G-20 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -CONTINUED NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2005 SPECIAL _—S—herifFs South Florida Sheriffs Sheriffs Sheriffs Law Enforce - Off -Duty Grants Teen Court ment Trust Revenues: Taxes $ - $ - $ - $ - Licenses and Permits - - - - Intergovernmental 13,990 386,828 49,720 - Charges for Services 93,923 - - - Fines and Forfeitures - - - 170,371 Investment Income - - - 11,485 Miscellaneous - - - - Total Revenues 107,913 386,828 49,720 181,856 Expenditures: Current: General Government - - - - Public Safety 107,978 460,253 91,774 261 Physical Environment - - - - Economic Environment - - - - Human Services - - - - Culture and Recreation - - - - Court Related - - - - Capital Projects - - - - Debt Service - - - - Total Expenditures 107,978 460,253 91,774 261 Excess/Deficiency of Revenues Over/(Under) Expenditures (65) (73,425) (42,054) 181,595 Other Financing Sources/(Uses): Transfers from Other Funds - 74,085 - - Transfers to Other Funds - - - - Capital Lease Acquisition - - - - Total Other Financing Sources/(Uses) - 74,085 - - Net Change in Fund Balances (65) 660 (42,054) 181,595 Fund Balances -October 1 65 9,234 60,426 379,686 Fund Balances -September 30 $ - $ 9,894 $ 18,372 $ 561,281 G-21 REVENUE FUNDS Sheriffs Shared Sheriffs Sheriffs Sheriffs Sheriffs Sheriffs Asset Federal HIDTA Airport Law Enforce- Fine & Forfeiture Forfeiture Administrative Services ment Trust Forfeiture - 1,305,949 - 1,679,835 125,145 58,041 - 190,683 - - - 204,968 52,779 - - - 7,123 - - - - - 607,631 204,968 1,358,728 190,683 1,679,835 125,145 672,795 151,632 1,416,086 193,265 1,679,835 125,145 15,598 151,632 1,416,086 193,265 1,679,835 125,145 15,598 53,336 (57,358) (2,582) - - 657,197 53,336 (57,358) (2,582) - - 657,197 4,717,634 1,730,854 75,757 - - - $ 4,770,970 $ 1,673,496 $ 73,175 $ - $ - $ 657,197 (Continued) G-22 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -CONTINUED NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2005 Revenues: Taxes Licenses and Permits Intergovernmental Charges for Services Fines and Forfeitures Investment Income Miscellaneous Total Revenues Expenditures: Current: General Government Public Safety Physical Environment Economic Environment Human Services Culture and Recreation Court Related Capital Projects Debt Service Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Transfers from Other Funds Transfers to Other Funds Capital Lease Acquisition Total Other Financing Sources/(Uses) Net Change in Fund Balances Fund Balances -October 1 Fund Balances -September 30 SPECIAL REVENUE FUNDS Clerk's Clerk's Supervisor's Modernization Court Voter Educ. & Trust Related Equipment - 404,680 65,621 591,371 2,022,264 - - 1,214,885 - 21,401 - 77 8,936 - - 621,708 3,641,829 65,698 14,454 177,024 3,641,829 - 177,024 3,641,829 14,454 444,684 - 51,244 318,750 - - 318,750 - - 763,434 - 51,244 649,633 - - $ 1,413,067 $ - $ 51,244 G-23 DEBT SERVICE FUND Infrastructure Total Nonmajor Sales Surtax Special Revenue Bonds, Revenue Funds Series 2003 CAPITAL PROJECT FUND Total Clerk's Nonmajor Revenue Governmental Note Funds $ 29,134,639 $ - $ - $ 29,134,639 2,475,613 - - 2,475,613 10,579,028 656,045 - 11,235,073 9,561,977 - - 9,561,977 1,870,804 - - 1,870,804 2,009,713 10,471 2,216 2,022,400 1,776,994 - 4,165 1,781,159 57,408,768 666,516 6,381 58,081,665 11,311,803 - - 11,311,803 16,359,368 - - 16,359,368 1,811,934 - - 1,811,934 15,535,006 - - 15,535,006 408,477 - - 408,477 1,508,701 - - 1,508,701 3,825,456 - - 3,825,456 - - 36,608 36,608 322,446 2,420,981 - 2,743,427 51,083,191 2,420,981 36,608 53,540,780 6,325,577 (1,754,465) (30,227) 4,540,885 373,363 1,896,115 - 2,269,478 (8,995,667) - - (8,995,667) 318,750 - - 318,750 (8,303,554) 1,896,115 - (6,407,439) (1,977,977) 141,650 (30,227) (1,866,554) 73,360,921 177,901 117,772 73,656,594 $ 71,382,944 $ 319,551 $ 87,545 $ 71,790,040 G-24 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL AFFORDABLE HOUSING PROGRAMS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Economic Environment: Affordable Housing Initiatives Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 4,143 $ 4,143 $ 8,074 $ 3,931 - - 7,153 7,153 4,143 4,143 15,227 11,084 272,436 272,436 - 272,436 (268,293) (268,293) 15,227 283,520 (5,000) (5,000) - 5,000 (273,293) (273,293) 15,227 288,520 277,779 277,779 277,779 - $ 4,486 $ 4,486 $ 293,006 $ 288,520 G-25 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, ALL DISTRICTS, TWO CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 2,569,344 $ 2,569,344 $ 3,021,695 $ 452,351 Charges for Services - - 43,449 43,449 Investment Income - - 91,352 91,352 Total Revenues 2,569,344 2,569,344 3,156,496 587,152 EXPENDITURES: Current: Economic Environment: Cultural Umbrella 672,600 672,600 490,229 182,371 Fishing Umbrella 724,800 724,800 624,011 100,789 Dive Umbrella 350,000 350,000 333,685 16,315 Operations - Events 1,592,800 1,642,800 1,209,835 432,965 Catastrophic Emergency 832,833 782,833 - 782,833 Special Projects 838,230 838,230 710,690 127,540 Total Expenditures 5,011,263 5,011,263 3,368,450 1,642,813 Excess/Deficiency of Revenues Over/(Under) Expenditures (2,441,919) (2,441,919) (211,954) 2,229,965 Other Financing Sources/(Uses): Transfers to Other Funds (86,583) (86,583) (60,734) 25,849 Net Change in Fund Balances (2,528,502) (2,528,502) (272,688) 2,255,814 Fund Balances, October 1 3,261,576 3,261,576 3,261,576 - Fund Balances, September 30 $ 733,074 $ 733,074 $ 2,988,888 $ 2,255,814 G-26 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, ADMINISTRATION AND PROMOTIONAL, TWO CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 5,474,079 $ 5,474,079 $ 6,261,547 $ 787,468 Charges for Services - - 90,036 90,036 Investment Income - - 94,514 94,514 Miscellaneous - - 165 165 Total Revenues 5,474,079 5,474,079 6,446,262 972,183 EXPENDITURES: Current: Economic Environment: Advertising and Promotion 4,578,931 5,128,826 4,672,976 455,850 Administrative Services 709,216 709,321 651,683 57,638 Catastrophic Emergency 1,379,046 829,046 - 829,046 Special Projects 1,384,705 1,384,705 1,222,237 162,468 Total Expenditures 8,051,898 8,051,898 6,546,896 1,505,002 Excess/Deficiency of Revenues Over/(Under) Expenditures (2,577,819) (2,577,819) (100,634) 2,477,185 Other Financing Sources/(Uses): Transfers to Other Funds (179,417) (179,417) (135,146) 44,271 Net Change in Fund Balances (2,757,236) (2,757,236) (235,780) 2,521,456 Fund Balances, October 1 3,766,359 3,766,359 3,766,359 - Fund Balances, September 30 $ 1,009,123 $ 1,009,123 $ 3,530,579 $ 2,521,456 G-27 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT #ONE, THREE CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Taxes Charges for Services Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Economic Environment: Advertising and Promotion Administrative Services Catastrophic Emergency Special Events Bricks and Mortar Beaches Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Transfers from Other Funds Transfers to Other Funds Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 2,183,687 $ 2,183,687 $ 2,485,560 $ 301,873 - - 35,740 35,740 - - 118,129 118,129 - - 23,702 23,702 2,183,687 2,183,687 2,663,131 479,444 1,304,867 1,304,867 1,261,194 43,673 88,650 88,650 61,151 27,499 424,448 424,448 - 424,448 275,416 227,484 152,335 75,149 2,310,018 2,310,018 875,506 1,434,512 404,900 404,900 - 404,900 4,808,299 4,760,367 2,350,186 2,410,181 (2,624,612) (2,576,680) 312,945 2,889,625 160 160 (7,560) (55,492) (55,492) - Total Other Financing Sources/(Uses) (7,560) (55,492) (55,332) 160 Net Change in Fund Balances (2,632,172) (2,632,172) 257,613 2,889,785 Fund Balances, October 1 3,301,114 3,301,114 3,301,114 - Fund Balances, September 30 $ 668,942 $ 668,942 $ 3,558,727 $ 2,889,785 G-28 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT #TWO, THREE CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Taxes Charges for Services Investment Income Total Revenues EXPENDITURES: Current: Economic Environment: Advertising and Promotion Administrative Services Catastrophic Emergency Special Events Bricks and Mortar Tourist Information Services Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Transfers to Other Funds Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 219,284 $ 219,284 $ 267,610 $ 48,326 - - 3,848 3,848 - - 13,764 13,764 219,284 219,284 285,222 65,938 161,490 173,471 170,912 2,559 10,434 10,434 5,824 4,610 33,393 13,059 - 13,059 27,981 16,000 10,487 5,513 333,325 333,326 40,273 293,053 21,988 21,988 21,988 - 588,611 568,278 249,484 318,794 (369,327) (348,994) 35,738 384,732 (700) (21,033) (21,033) - (370,027) (370,027) 14,705 384,732 470,863 470,863 470,863 - $ 100,836 $ 100,836 $ 485,568 $ 384,732 G-29 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT #THREE, THREE CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Taxes Charges for Services Investment Income Total Revenues EXPENDITURES: Current: Economic Environment: Advertising and Promotion Administrative Services Catastrophic Emergency Special Events Bricks and Mortar Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Transfers to Other Funds Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 495,051 $ 495,051 $ 636,728 $ 141,677 - - 9,156 9,156 - - 34,068 34,068 495,051 495,051 679,952 184,901 234,420 234,420 221,849 12,571 25,208 25,208 15,920 9,288 73,955 73,955 - 73,955 267,313 267,313 235,238 32,075 831,149 802,691 180,517 622,174 1,432,045 1,403,587 653,524 750,063 (936,994) (908,536) 26,428 934,964 (1,960) (30,418) (30,418) - (938,954) (938,954) (3,990) 934,964 1,073,655 1,073,655 1,073,655 - $ 134,701 $ 134,701 $ 1,069,665 $ 934,964 G-30 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT #FOUR, THREE CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Taxes Charges for Services Investment Income Total Revenues EXPENDITURES: Current: Economic Environment: Advertising and Promotion Administrative Services Catastrophic Emergency Special Events Bricks and Mortar Tourist Information Services Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Transfers to Other Funds Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 490,560 $ 490,560 $ 594,310 $ 103,750 - - 8,545 8,545 - - 36,233 36,233 490,560 490,560 639,088 148,528 298,458 447,493 443,918 3,575 19,558 19,558 14,408 5,150 138,782 103,169 - 103,169 262,433 113,398 38,998 74,400 899,442 899,442 123,168 776,274 4,696 4,696 4,696 - 1,623,369 1,587,756 625,188 962,568 (1,132,809) (1,097,196) 13,900 1,111,096 (1,820) (37,433) (37,433) - (1,134,629) (1,134,629) (23,533) 1,111,096 1,267,160 1,267,160 1,267,160 - $ 132,531 $ 132,531 $ 1,243,627 $ 1,111,096 G-31 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT WIVE, THREE CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Taxes Charges for Services Investment Income Total Revenues EXPENDITURES: Current: Economic Environment: Advertising and Promotion Administrative Services Tourist Information Services Catastrophic Emergency Special Events Bricks and Mortar Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 563,212 $ 563,212 $ 657,413 $ 94,201 - - 9,453 9,453 - - 29,415 29,415 563,212 563,212 696,281 133,069 257,396 257,396 240,671 16,725 20,624 20,624 16,047 4,577 11,027 11,027 11,027 - 117,545 117,544 - 117,544 84,473 84,474 22,133 62,341 790,149 753,291 289,708 463,583 1,281,214 1,244,356 579,586 664,770 (718,002) (681,144) 116,695 797,839 Other Financing Sources/(Uses): Transfers from Other Funds - - 15 15 Transfers to Other Funds (1,960) (38,818) (38,818) - Total Other Financing Sources/(Uses) (1,960) (38,818) (38,803) 15 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (719,962) (719,962) 77,892 892,411 892,411 892,411 797,854 $ 172,449 $ 172,449 $ 970,303 $ 797,854 G-32 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - ROADWAYS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Transportation: Fair Share Improvement County Wide Fair Share Improvement Dist 1 Fair Share Improvement Dist 2 Fair Share Improvement Dist 3 Fair Share Improve Key Colony Beach Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Transfers to Other Funds Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 82,700 $ 82,700 $ 191,420 $ 108,720 107,000 107,000 168,707 61,707 189,700 189,700 360,127 170,427 1,267,911 1,267,911 - 1,267,911 128,765 128,765 - 128,765 1,846,103 1,846,103 - 1,846,103 2,782,358 2,527,287 - 2,527,287 154,518 154,518 - 154,518 6,179,655 5,924,584 - 5,924,584 (5,989,955) (5,734,884) 360,127 6,095,011 (5,989,955) 6,794,730 (255,071) (255,071) - (5,989,955) 6,794,730 105,056 6,794,730 6,095,011 $ 804,775 $ 804,775 $ 6,899,786 $ 6,095,011 G-33 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - PARKS AND RECREATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 16,800 $ 16,800 $ 28,708 $ 11,908 Miscellaneous 29,700 29,700 66,640 36,940 Total Revenues 46,500 46,500 95,348 48,848 EXPENDITURES: Current: Culture and Recreation: District 1 Projects 265,005 265,005 - 265,005 District 2 Projects 195,326 195,326 - 195,326 Key Largo Skate Park 450,908 450,908 6,482 444,426 Total Expenditures 911,239 911,239 6,482 904,757 Net Change in Fund Balances (864,739) (864,739) 88,866 953,605 Fund Balances, October 1 1,038,390 1,038,390 1,038,390 - Fund Balances, September 30 $ 173,651 $ 173,651 $ 1,127,256 $ 953,605 G-34 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - LIBRARIES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 5,000 $ 5,000 $ 13,034 $ 8,034 Miscellaneous 40,000 40,000 54,242 14,242 Total Revenues 45,000 45,000 67,276 22,276 EXPENDITURES: Current: Culture and Recreation: County Wide Library Projects 413,636 413,636 - 413,636 Net Change in Fund Balances (368,636) (368,636) 67,276 435,912 Fund Balances, October 1 459,035 459,035 459,035 - Fund Balances, September 30 $ 90,399 $ 90,399 $ 526,311 $ 435,912 G-35 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - SOLID WASTE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 4,300 $ 4,300 $ 3,119 $ (1,181) Miscellaneous 12,000 12,000 11,871 (129) Total Revenues 16,300 16,300 14,990 (1,310) EXPENDITURES: Current: Physical Environment: County Wide Solid Waste Projects 62,185 62,185 - 62,185 Clam Truck 84,803 84,803 84,803 - Mow Trim 45,409 45,409 45,409 - Total Expenditures 192,397 192,397 130,212 62,185 Net Change in Fund Balances (176,097) (176,097) (115,222) 60,875 Fund Balances, October 1 185,139 185,139 185,139 - Fund Balances, September 30 $ 9,042 $ 9,042 $ 69,917 $ 60,875 G-36 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - POLICE FACILITIES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Public Safety: County Wide Police Facility Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 8,400 $ 8,400 $ 6,167 $ (2,233) 24,500 24,500 24,011 (489) 32,900 32,900 30,178 (2,722) 186,532 186,532 (153,632) (153,632) - 186,532 30,178 183,810 184,545 184,545 184,545 $ 30,913 $ 30,913 $ 214,723 $ 183,810 G-37 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - FIRE AND EMS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 3,850 $ 3,850 $ 6,493 $ 2,643 Miscellaneous 16,000 16,000 18,808 2,808 Total Revenues 19,850 19,850 25,301 5,451 EXPENDITURES: Current: Public Safety: District 1 Fire & EMS Project 87,388 87,388 - 87,388 District 2 Fire & EMS Project 12,229 12,229 - 12,229 District 3 Fire & EMS Project 128,400 128,400 - 128,400 Key Colony Beach Fire & EMS 28,170 28,170 - 28,170 District 1 Fire Hydrants 59,652 59,652 - 59,652 District 2 Fire Hydrants 13,709 13,709 - 13,709 District 3 Fire Hydrants 75,416 75,416 - 75,416 Total Expenditures 404,964 404,964 - 404,964 Net Change in Fund Balances (385,114) (385,114) 25,301 410,415 Fund Balances, October 1 231,891 231,891 231,891 - Fund Balances, September 30 $ (153,223) $ (153,223) $ 257,192 $ 410,415 G-38 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FIRE AND AMBULANCE DISTRICT #1 - LOWER AND MIDDLE KEYS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Taxes Intergovernmental Charges for Services Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: General Government: Public Safety: Fire Rescue - Central Lower & Middle Keys Ambulance Dist Total Public Safety Debt Service: Principal Interest Total Debt Service Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Transfers from Other Funds Transfers to Other Funds Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 6,635,441 $ 6,635,441 $ 6,392,566 $ (242,875) 10,000 10,000 17,336 7,336 300,000 300,000 472,484 172,484 50,000 50,000 99,931 49,931 - - 41,170 41,170 6,995,441 6,995,441 7,023,487 28,046 2,287,886 1,945,897 1,755,603 190,294 3,632,825 4,247,280 4,147,274 100,006 5,920.711 6,193,177 5,902,877 290,300 - 144,608 144,608 - - 12,628 12,628 - - 157,236 157,236 - 5,920,711 6,350,413 6,060,113 290,300 1,074,730 645,028 963,374 318,346 (451,663) - - - 65,247 97,772 32,525 (998,295) (1,085,503) (848,049) 237,454 Total Other Financing Sources/(Uses) (1,449,958) (1,020,256) (750,277) 269,979 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (375,228) (375,228) 213,097 588,325 1,490,699 1,490,699 1,490,699 - $ 1,115,471 $ 1,115,471 $ 1,703,796 $ 588,325 G-39 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL UPPER KEYS HEALTH CARE SPECIAL TAXING DISTRICT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Investment Income EXPENDITURES: Current: General Government: Tax Collector Human Services: Trauma District Administration Trauma Transportation and Treatment Trauma Pretransportation Trauma Facility Upgrade Total Human Services Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Transfers to Other Funds Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 50,000 $ 50,000 $ 68,913 $ 18,913 100 100 175,557 175,557 887,975 887,975 147,879 147,879 100 151,103 24,454 192,191 695,784 - 147,879 400,000 400,000 - 400,000 1,611,411 1,611,411 343,294 1,268,117 1,611,511 1,611,511 343,294 1,268,217 (1,561,511) (1,561,511) (274,381) 1,287,130 (90,107) (90,107) - 90,107 (28,000) (28,000) (26,677) 1,323 Total Other Financing Sources/(Uses) (118,107) (118,107) (26,677) 91,430 Net Change in Fund Balances (1,679,618) (1,679,618) (301,058) 1,378,560 Fund Balances, October 1 2,637,396 2,637,396 2,637,396 Fund Balances, September 30 $ 957,778 $ 957,778 $ 2,336,338 $ 1,378,560 G-40 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FIRE AND AMBULANCE DISTRICT #6 - KEY LARGO SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Taxes Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Public Safety: Key Largo Ambulance Key Largo Fire & Rescue Total Public Safety Debt Service: Principal Interest Total Debt Service Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Transfers to Other Funds Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 1,276,643 $ 1,276,643 $ 1,234,393 $ (42,250) 14,000 14,000 22,998 8,998 - - 109 109 1,290,643 1,290,643 1,257,500 (33,143) 298,485 350,714 342,737 7,977 748,969 571,066 500,816 70,250 1,047,454 921,780 843,553 78,227 - 155,370 155,370 - - 9,840 9,840 - - 165,210 165,210 - 1,047,454 1,086,990 1,008,763 78,227 243,189 203,653 248,737 45,084 (46,998) - - - (201,659) (209,121) (158,612) 50,509 Total Other Financing Sources/(Uses) (248,657) (209,121) (158,612) 50,509 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (5,468) 381,370 (5,468) 381,370 90,125 381,370 $ 375,902 $ 375,902 $ 471,495 $ 95,593 95,593 G-41 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL UNINCORPORATED AREA SERVICE DISTRICT - PARKS AND RECREATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Taxes Intergovernmental Charges for Services Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Culture and Recreation: Parks & Beaches Unincorporated Jacob's Aquatic Center School Board Interlocal Islamorada Parks & Beaches Vechicle Replacement Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Transfers from Other Funds Transfers to Other Funds Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 1,066,290 $ 1,066,290 $ 1,028,381 $ (37,909) 500,000 500,000 703,658 203,658 30,000 30,000 64,770 34,770 25,000 25,000 36,906 11,906 25,000 25,000 31,360 6,360 1,646,290 1,646,290 1,865,075 218,785 1,190,846 1,297,103 1,200,534 96,569 - 225,000 225,000 - 57,966 57,966 57,964 2 80,000 840 - 840 47,663 21,406 - 21,406 1,376,475 1,602,315 1,483,498 118,817 269,815 43,975 381,577 337,602 (198,431) (43,431) - 43,431 150,000 150,473 473 (220,000) (299,160) (299,160) - Total Other Financing Sources/(Uses) (418,431) (192,591) (148,687) 43,904 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (148,616) (148,616) 232,890 381,506 846,215 846,215 846,215 - $ 697,599 $ 697,599 $ 1,079,105 $ 381,506 G-42 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL UNINCORPORATED AREA SERVICE DISTRICT - PLANNING, BUILDING AND ZONING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Taxes Licenses and Permits Intergovernmental Charges for Services Fines and Forfeitures Investment Income Miscellaneous Total Revenues Expenditures: Current: General Government: Growth Mgmt County Attorney Planning Department 2010 Comprehensive Plan Planning Commission Growth Mgmt Administration Planning and Building Refunds Settlement Agreement Vehicle Replacement Total General Government Public Safety: Building Department Code Enforcement Fire & Rescue Coordinator Fire Marshall Total Public Safety Physical Environment: Pump -Out Vessel Environmental Resources Marine Resources Total Physical Environment Total Expenditures Original Final Budget Budget Actual Variance with Final Budget Positive (Negative) $ 654,553 $ 654,553 $ 801,414 $ 146,861 1,615,000 1,615,000 2,455,667 840,667 2,504,000 1,004,000 2,018,291 1,014,291 264,000 264,000 433,775 169,775 83,000 83,000 95,715 12,715 200,000 200,000 215,854 15,854 5,000 5,000 28,242 23,242 5,325,553 3,825,553 6,048,958 2,223,405 100,227 113,927 109,047 4,880 1,296,977 1,234,334 1,229,994 4,340 726,593 355,923 266,951 88,972 100,365 100,365 78,062 22,303 666,835 1,411,018 1,411,018 - 8,000 8,000 7,116 884 1,400,000 1,400,000 1,400,000 - 263, 862 241,126 - 241,126 4,562,859 4,864,693 4,502,188 362,505 1,551,426 1,569,662 1,566,746 2,916 1,048,264 994,764 966,743 28,021 483,271 483,971 483,642 329 264,917 264,217 217,549 46,668 3,347,878 3,312,614 3,234,680 77,934 61,431 26,101 5,099 21,002 371,023 371,023 367,810 3,213 287,616 244,116 220,525 23,591 720,070 641,240 593,434 47,806 8,630,807 8,818,547 8,330,302 488,245 (Continued) G-43 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL UNINCORPORATED AREA SERVICE DISTRICT - PLANNING, BUILDING AND ZONING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Excess/Deficiency of Revenues Over/(Under) Expenditures (3,305,254) (4,992,994) (2,281,344) 2,711,650 Other Financing Sources/(Uses): Reserve for Contingencies (645,073) (25,015) - 25,015 Transfers from Other Funds - - 15,147 15,147 Transfers to Other Funds (1,037,000) (1,369,319) (1,225,696) 143,623 Total Other Financing Sources/(Uses) (1,682,073) (1,394,334) (1,210,549) 183,785 Net Change in Fund Balances (4,987,327) (6,387,328) (3,491,893) 2,895,435 Fund Balances, October 1 8,960,903 8,960,903 8,960,903 - Fund Balances, September 30 $ 3,973,576 $ 2,573,575 $ 5,469,010 $ 2,895,435 G-44 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LOCAL HOUSING ASSISTANCE FOR THE YEAR ENDED SEPTEMBER 30, 2005 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 633,314 $ 633,314 $ 599,168 $ (34,146) Investment Income - - 75,066 75,066 Miscellaneous - - 382,437 382,437 Total Revenues 633,314 633,314 1,056,671 423,357 EXPENDITURES: Current: Economic Environment: Home Owner Down Pymt 03 899,000 899,000 827,013 71,987 Home Owner Down Pymt 04 425,000 425,000 49,262 375,738 Home Owner Wastewater Improvement 366,000 366,000 12,669 353,331 SHIP Fair Housing 05 24,000 24,000 - 24,000 Administration 03 - 15,818 15,818 - Administration 04 - 12,459 12,459 - Administration 05 82,648 54,371 11,882 42,489 Rental Rehabilitation 03 225,000 225,000 225,000 - Rental Rehabilitation 04 150,000 150,000 - 150,000 Total Expenditures 2,171,648 2,171,648 1,154,103 1,017,545 Excess/Deficiency of Revenues Over/(Under) Expenditures (1,538,334) (1,538,334) (97,432) 1,440,902 Other Financing Sources/(Uses): Reserve for Contingencies 03 (5,000) (5,000) - 5,000 Reserve for Contingencies 04 (5,000) (5,000) - 5,000 Reserve for Contingencies 05 (5,000) (5,000) - 5,000 Total Other Financing Sources/(Uses) (15,000) (15,000) - 15,000 Net Change in Fund Balances (1,553,334) (1,553,334) (97,432) 1,455,902 Fund Balances, October 1 2,701,576 2,701,576 2,701,576 - Fund Balances, September 30 $ 1,148,242 $ 1,148,242 $ 2,604,144 $ 1,455,902 G-45 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL MUNICIPAL POLICING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Taxes Charges for Services Investment Income Total Revenues EXPENDITURES: Current: Public Safety: Insurance Unincorporated & Layton Insurance Islamorada Insurance Marathon Total Public Safety Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Transfers to Other Funds Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 3,593,235 $ 3,593,235 $ 3,462,646 $ (130,589) 2,674,890 2,674,890 2,751,512 76,622 20,000 20,000 36,636 16,636 6,288,125 6,288,125 6,250,794 (37,331) 465,200 468,069 468,069 - 181,200 185,763 185,763 - 177,400 152,120 151,623 497 823,800 805,952 805,455 497 5,464,325 5,482,173 5,445,339 (36,834) (207,670) (195,670) - 195,670 (5,722,248) (5,752,096) (5,699,526) 52,570 Total Other Financing Sources/(Uses) (5,929,918) (5,947,766) (5,699,526) 248,240 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (465,593) (465,593) (254,187) 211,406 1,132,687 1,132,687 1,132,687 - $ 667,094 $ 667,094 $ 878,500 $ 211,406 G-46 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL 911 ENHANCEMENT FEES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 396,365 $ 396,365 $ 449,993 $ 53,628 Investment Income 10,000 10,000 13,702 3,702 Miscellaneous - - 1,185 1,185 Total Revenues 406,365 406,365 464,880 58,515 EXPENDITURES: Current: Public Safety: 911 Enhancement Fund 450,288 511,041 377,231 133,810 911 Wireless 210,348 149,595 62,305 87,290 Mapping Software 148,835 148,835 - 148,835 Total Expenditures 809,471 809,471 439,536 369,935 Excess/Deficiency of Revenues Over/(Under) Expenditures (403,106) (403,106) 25,344 428,450 Other Financing Sources/(Uses): Transfer from Other Funds - - 174 174 Net Change in Fund Balances (403,106) (403,106) 25,518 428,624 Fund Balances, October 1 514,510 514,510 514,510 - Fund Balances, September 30 $ 111,404 $ 111,404 $ 540,028 $ 428,624 G-47 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL DUCK KEY SECURITY DISTRICT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Charges for Services Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: General Government: Tax Collector Public Safety: Island Security Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ - $ - $ 1,039 $ 1,039 2,500 2,500 4,301 1,801 65,000 65,000 72,796 7,796 67,500 67,500 78,136 10,636 2,200 2,200 2,153 47 145,025 145,025 46,426 98,599 147,225 147,225 48,579 98,646 (79,725) (79,725) 29,557 109,282 (18,000) (18,000) - 18,000 (97,725) (97,725) 29,557 127,282 139,982 139,982 139,982 - $ 42,257 $ 42,257 $ 169,539 $ 127,282 G-48 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BOATING IMPROVEMENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Charges for Services Investment Income Total Revenues EXPENDITURES: Current: Physical Environment: Boating Improvement Marine Debris Removal Derelict Vessels Channel Markers Regulatory Zones Channel Marker Repair Islamorada Boating Imp Fund Marathon Boating Imp Fund Key West Boating Imp Fund Special Marine Projects Mooring Field Expenses Key Colony Beach Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 500,000 $ 500,000 $ 560,345 $ 60,345 10,000 10,000 29,765 19,765 510,000 510,000 590,110 80,110 107,309 518,753 268,968 249,785 50,000 36,258 36,258 - 207,191 68,855 68,855 35,000 - - - 10,000 7,015 7,015 - 100,000 14,776 14,776 - 40,000 57,448 57,448 - 40,000 - - - 40,000 - - - 70,000 10,453 10,353 100 10,000 10,000 - 10,000 20,000 - - - 729,500 723,558 463,673 259,885 (219,500) (213,558) 126,437 339,995 Other Financing Sources/(Uses): Reserve for Contingencies (90,000) (11,833) - 11,833 Transfers to Other Funds - (84,109) (48,720) 35,389 Total Other Financing Sources/(Uses) (90,000) (95,942) (48,720) 47,222 Net Change in Fund Balances (309,500) (309,500) 77,717 387,217 Fund Balances, October 1 987,689 987,689 987,689 - Fund Balances, September 30 $ 678,189 $ 678,189 $ 1,065,406 $ 387,217 G-49 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL MISCELLANEOUS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Licenses and Permits Intergovernmental Charges for Services Fines and Forfeitures Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Public Safety: Interagency Communications Education -Building Department Sheriffs 800 Megahertz Teen Court Total Public Safety Economic Environment: SFETC Travel SFETC Travel SFETC Liaison Industrial Development Authority Total Economic Environment Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ - $ - $ 19,946 $ 19,946 - 7,378 - (7,378) - 227,437 754,644 527,207 - 11,000 293,848 282,848 - 549 66,835 66,286 - 18,758 18,758 - - 265,122 1,154,031 888,909 1,075,566 737,567 168,553 569,014 13,000 13,000 2,945 10,055 - 338,000 - 338,000 - 55,082 55,082 - 1,088,566 1,143,649 226,580 917,069 8,886 8,886 - 8,886 - 10,378 7,589 2,789 - 12,000 - 12,000 4,555 4,555 - 4,555 13,441 35,819 7,589 28,230 Human Services: FL Keys Council for the Handicapped 24,878 24,878 10,101 14,777 Legal Aid - 55,082 55,082 - Total Human Services 24,878 79,960 65,183 14,777 Culture and Recreation: Settler's Park Landscaping Higgs Beach Dog Park Library Special Programs Total Culture and Recreation Court Related: Alt Dispute Resolution - Family Alt Dispute Resolution - Civil Ord 016-2004 St Court Sup Total Court Related 10,315 6,369 - 6,369 - 18,758 18,721 37 - 11,000 - 11,000 10,315 36,127 18,721 17,406 13,230 13,230 1,156 12,074 11,270 11,270 5,447 5,823 - 51,136 - 51,136 24,500 75,636 6,603 69,033 G-50 (Continued) MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED MISCELLANEOUS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Total Expenditures 1,161,700 1,371,191 324,676 1,046,515 Excess/Deficiency of Revenues Over/(Under) Expenditures (1,161,700) (1,106,069) 829,355 1,935,424 Other Financing Sources/(Uses): Transfers from Other Funds - - 35,537 35,537 Transfers to Other Funds - (55,631) (55,082) 549 Total Other Financing Sources/(Uses) - (55,631) (19,545) 36,086 Net Change in Fund Balances (1,161,700) (1,161,700) 809,810 1,971,510 Fund Balances, October 1 2,182,219 2,182,219 2,182,219 - Fund Balances, September 30 $ 1,020,519 $ 1,020,519 $ 2,992,029 $ 1,971,510 G-51 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL ENVIRONMENTAL RESTORATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Fines and Forfeitures Investment Income Total Revenues EXPENDITURES: Current: Physical Environment: Environmental Restoration Culture and Recreation: Settler's Park Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 330,000 $ 330,000 $ 45,674 $ (284,326) - - 1,743 1,743 330,000 330,000 47,417 (282,583) 320,980 320,980 15,743 305,237 9,083 9,083 - 9,083 330,063 330,063 15,743 314,320 (63) (63) 31,674 31,737 (21,437) (21,437) - 21,437 (21,500) (21,500) 31,674 53,174 50,138 $ 28,638 $ 50,138 50,138 28,638 $ 81,812 $ 53,174 G-52 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LAW ENFORCEMENT TRUST SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Fines and Forfeitures Investment Income Total Revenues EXPENDITURES: Current: Public Safety: Law Enforcement Excess/Deficiency of Revenues Over/(Under) Expenditures Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ - $ 7,443 $ 50,311 $ 42,868 2,000 2,000 2,840 840 2,000 9,443 53,151 43,708 1,900 862,923 125,145 737,778 100 (853,480) (71,994) 781,486 100 (853,480) (71,994) 781,486 170,921 170,921 170,921 - $ 171,021 $ (682,559) $ 98,927 $ 781,486 G-53 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL COURT FACILITY FEES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Charges for Services Investment Income Total Revenues EXPENDITURES: Current: Court Related: Court Facility Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 35,000 $ 35,000 $ 374,405 $ 339,405 - - 26,349 26,349 35,000 35,000 400,754 365,754 524,995 524,995 - 524,995 (489,995) (489,995) 400,754 890,749 (42,000) (42,000) - 42,000 (531,995) (531,995) 400,754 932,749 840,014 840,014 840,014 - $ 308,019 $ 308,019 $ 1,240,768 $ 932,749 G-54 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL DRUG ABUSE TRUST SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Charges for Services Investment Income Total Revenues EXPENDITURES: Current: Human Services: Drug Abuse Trust Fund Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 5,000 $ 5,000 $ 11,993 $ 6,993 - - 1,987 1,987 5,000 5,000 13,980 8,980 33,750 33,750 - 33,750 (28,750) (28,750) 13,980 42,730 (3,000) (3,000) - 3,000 (31,750) (31,750) 13,980 45,730 70,241 70,241 70,241 - $ 38,491 $ 38,491 $ 84,221 $ 45,730 G-55 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL MARATHON MUNICIPAL SERVICE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Taxes Charges for Services Investment Income Total Revenues EXPENDITURES: Current: General Government: Tax Collector Fees Physical Environment: Marathon Wastewater Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 1,173,180 $ 1,173,180 $ 1,132,226 $ (40,954) - - 16,030 16,030 - - 39,813 39,813 1,173,180 1,173,180 1,188,069 14,889 33,185 33,285 33,218 67 1,686,336 1,686,336 176,807 1,509,529 1,719,521 1,719,621 210,025 1,509,596 (546,341) (546,441) 978,044 1,524,485 (50,000) (49,900) - 49,900 (596,341) (596,341) 978,044 1,574,385 765,085 765,085 765,085 - $ 168,744 $ 168,744 $ 1,743,129 $ 1,574,385 G-56 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CONCH KEY WASTEWATER MSTU SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Taxes Charges for Services Investment Income Total Revenues EXPENDITURES: Current: General Government: Tax Collector Fees Physical Environment: Conch Key Wastewater Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 14,559 $ 14,559 $ 13,749 $ (810) - - 194 194 - - 322 322 14,559 14,559 14,265 (294) 415 415 403 12 18,516 18,516 - 18,516 18,931 18,931 403 18,528 (4,372) (4,372) 13,862 18,234 (500) (500) - 500 (4,872) (4,872) 13,862 18,734 290 290 290 - $ (4,582) $ (4,582) $ 14,152 $ 18,734 G-57 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BAY POINT WASTEWATER MSTU SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Taxes Charges for Services Investment Income Total Revenues EXPENDITURES: Current: General Government: Tax Collector Fees Physical Environment: Bay Point Wastewater Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 52,393 $ 52,393 $ 51,114 $ (1,279) - - 719 719 - - 1,224 1,224 52,393 52,393 53,057 664 1,507 1,507 1,489 18 72,266 72,266 - 72,266 73,773 73,773 1,489 72,284 (21,380) (21,380) 51,568 72,948 (2,000) (2,000) - 2,000 (23,380) (23,380) 51,568 1,453 1,453 1,453 $ (21,927) $ (21,927) $ 74,948 53,021 $ 74,948 G-58 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BIG COPPITT WASTEWATER MSTU SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 170,474 $ 170,474 $ 164,890 $ (5,584) Charges for Services - - 483 483 Investment Income - - 2,833 2,833 Total Revenues 170,474 170,474 168,206 (2,268) EXPENDITURES: Current: Physical Environment: Big Coppitt Municipal Svc District 5,114 5,114 - 5,114 Big Coppitt Wastewater 153,886 153,886 - 153,886 Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 159,000 159,000 - 159,000 11,474 11,474 168,206 156,732 (2,950) (2,950) - 2,950 8,524 8,524 168,206 159,682 $ 8,524 $ 8,524 $ 168,206 $ 159,682 G-59 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL KEY LARGO WASTEWATER MSTU SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Taxes Charges for Services Investment Income Total Revenues EXPENDITURES: Current: General Government: Tax Collector Fees Physical Environment: Key Largo Wastewater Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 961,565 $ 961,565 $ 928,397 $ (33,168) - - 13,086 13,086 - - 20,570 20,570 961,565 961,565 962,053 488 27,419 27,419 27,119 300 1,156,068 1,156,068 432,065 724,003 1,183,487 1,183,487 459,184 724,303 (221,922) (221,922) 502,869 724,791 (40,000) (40,000) - 40,000 (261,922) (261,922) 502,869 233,736 233,736 233,736 $ (28,186) $ (28,186) $ 764,791 736,605 $ 764,791 G-60 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (BUDGETARY BASIS) COMPREHENSIVE PLAN LAND AUTHORITY SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Intergovernmental Mortgage Receivable Receipts Investment Income Total Revenues EXPENDITURES: Current: General Government: Administrative Capital Outlay: Land and Land Rights Acquisition Total Expenditures Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Original Final Budget Budget Variance with Final Budget Positive Actual (Negative) $ 2,680,000 $ 2,680,000 $ 3,150,766 $ 470,766 700,000 700,000 700,000 - 100, 000 100,000 262, 715 162,715 3,480,000 3,480,000 4,113,481 633,481 307,500 307,500 237,433 70,067 11,519,347 11,519,347 6,467,615 5,051,732 11,826,847 11,826,847 6,705,048 5,121,799 (8,346,847) (8,346,847) (2,591,567) 5,755,280 10,824,945 10,824,945 10,824,945 - $ 2,478,098 $ 2,478,098 $ 8,233,378 $ 5,755,280 G-61 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S INMATE COMMISSARY SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Charges for Services Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Public Safety Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ - $ 286,696 $ 416,299 $ 129,603 2,084 3,049 3,049 - 455,301 62,289 62,289 - 457,385 352,034 481,637 129,603 543,983 352,034 352,034 - Excess/Deficiency of Revenues Over/(Under) Expenditures (86,598) - 129,603 129,603 Fund Balances, October 1 86,598 86,598 86,598 - Fund Balances, September 30 $ - $ 86,598 $ 216,201 $ 129,603 G-62 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S IMPACT SUPPORT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Charges for Services EXPENDITURES: Current: Public Safety Excess/Deficiency of Revenues Over/(Under) Expenditures Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 160,344 $ 141,255 $ 141,255 $ - 160,344 141,255 141,255 G-63 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S OFF -DUTY SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Intergovernmental Charges for Services Total Revenues EXPENDITURES: Current: Public Safety Excess/Deficiency of Revenues Over/(Under) Expenditures Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ - $ - $ 13,990 $ 13,990 137,244 107,978 93,923 (14,055) 137,244 107,978 107,913 (65) 137,309 107,978 107,978 - (65) - (65) (65) 65 65 65 - $ - $ 65 $ - $ (65) G-64 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S GRANTS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Intergovernmental Charges for Services Total Revenues EXPENDITURES: Current: Public Safety Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Transfers from Other Funds Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 372,466 $ 385,694 $ 386,828 $ 1,134 - 474 - (474) 372,466 386,168 386,828 660 381,700 460,253 460,253 - (9,234) (74,085) (73,425) 660 74,085 74,085 - (9,234) - 660 660 9,234 9,234 9,234 - 9,234 $ 9,894 $ 660 G-65 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S SOUTH FLORIDA LAW ENFORCEMENT TRUST SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Fines and Forfeitures Investment Income Total Revenues EXPENDITURES: Current: Public Safety Excess/Deficiency of Revenues Over/(Under) Expenditures Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 80,900 $ 261 $ 170,371 $ 170,110 9,675 - 11,485 11,485 90,575 261 181,856 181,595 470,261 261 261 - (379,686) - 181,595 181,595 (379,686) - 181,595 181,595 379,686 379,686 379,686 - $ - $ 379,686 $ 561,281 $ 181,595 G-66 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S SHARED ASSET FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Investment Income EXPENDITURES: Current: Public Safety Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 271,190 $ 151,632 $ 204,968 $ 53,336 4,988, 824 151,632 151,632 - Excess/Deficiency of Revenues Over/(Under) Expenditures (4,717,634) - 53,336 53,336 Fund Balances, October 1 Fund Balances, September 30 4,717,634 4,717,634 4,717,634 - $ - $ 4,717,634 $ 4,770,970 $ 53,336 G-67 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S FEDERAL FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Intergovernmental Investment Income Total Revenues EXPENDITURES: Current: Public Safety Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Transfers to Other Funds Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 1,273,150 $ 1,305,949 $ 1,305,949 $ - 47,131 52,779 52,779 - 1,320,281 1,358,728 1,358,728 - 3,051,135 1,416,086 1,416,086 (1,730,854) (57,358) (57,358) - (1,730,854) (57,358) (57,358) - 1,730,854 1,730,854 1,730,854 - $ - $ 1,673,496 $ 1,673,496 $ - G-68 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S HIDTA ADMINISTRATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Charges for Services EXPENDITURES: Current: Public Safety Excess/Deficiency of Revenues Over/(Under) Expenditures Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 190,038 $ 190,683 $ 190,683 $ - 265,795 193,265 193,265 - (75,757) (2,582) (2,582) 75,757 75,757 75,757 $ - $ 73,175 $ 73,175 $ G-69 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S AIRPORT SERVICES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Intergovernmental EXPENDITURES: Current: Public Safety Excess/Deficiency of Revenues Over/(Under) Expenditures Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 1,672,309 $ 1,677,996 $ 1,679,835 $ 1,839 1,672,309 1,677,996 1,679,835 (1,839) G-70 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S LAW ENFORCEMENT TRUST SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Intergovernmental EXPENDITURES: Current: Public Safety Excess/Deficiency of Revenues Over/(Under) Expenditures Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 52,650 $ 125,145 $ 125,145 $ - 52,650 125,145 125,145 - G-71 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S FINE AND FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ - $ - $ 58,041 $ 58,041 Investment Income 3,522 - 7,123 7,123 Miscellaneous 304,651 734,964 607,631 (127,333) Total Revenues 308,173 734,964 672,795 (62,169) EXPENDITURES: Current: Public Safety 225,281 15,598 15,598 - Excess/Deficiency of Revenues Over/(Under) Expenditures 82,892 719,366 657,197 (62,169) Fund Balances, October 1 - - - _ Fund Balances, September 30 $ 82,892 $ 719,366 $ 657,197 $ (62,169) G-72 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CLERK'S RECORDS MODERNIZATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Charges for Services Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Court Related: Modernization Trust Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Lease Purchase Proceeds Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 230,000 $ 230,000 $ 591,371 $ 361,371 4,000 4,000 21,401 17,401 - - 8,936 8,936 234,000 234,000 621,708 387,708 704,000 704,000 177,024 526,976 (470,000) (470,000) 444,684 914,684 318,750 318,750 (470,000) (470,000) 763,434 1,233,434 649,633 649,633 649,633 - $ 179,633 $ 179,633 $ 1,413,067 $ 1,233,434 G-73 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CLERK'S COURT RELATED SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Intergovernmental Charges for Services Fines and Forfeitures Total Revenues EXPENDITURES: Current: Court Related: Clerk Administration Clerk Records Management Clerk Jury Management Clerk Circuit Court Criminal Clerk Circuit Court Civil Clerk Circuit Court Family Clerk Circuit Court Juvenile Clerk Circuit Court Probate Clerk County Court Criminal Clerk County Court Civil Clerk County Court Traffic Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 635,224 $ 635,224 $ 404,680 $ (230,544) 2,537,127 2,565,127 2,022,264 (542,863) 1,149,790 1,133,530 1,214,885 81,355 4,322,141 4,333,881 3,641,829 (692,052) 308,214 308,214 281,628 26,586 329,405 329,405 305,330 24,075 137,163 137,163 81,840 55,323 817,305 817,305 736,918 80,387 453,678 453,678 410,494 43,184 145,114 145,114 119,639 25,475 102,492 112,017 109,810 2,207 60,448 60,448 58,576 1,872 611,496 576,671 538,001 38,670 238,958 238,958 227,838 11,120 746,486 771,786 771,755 31 3,950,759 3,950,759 3,641,829 308,930 371,382 383,122 - (383,122) (371,382) (383,122) - 383,122 G-74 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL INFRASTRUCTURE SALES SURTAX REVENUE BONDS, SERIES 2003 DEBT SERVICE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Intergovernmental Investment Income Total Revenues EXPENDITURES: Current: Debt Service: 2003 Revenue Bonds: Principal Interest Other Debt Service Costs Total 2003 Revenue Bonds Guaranteed Entitlement Loan: Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 656,045 $ 656,045 $ 656,045 $ - 8,000 8,000 10,471 2,471 664,045 664,045 666,516 2,471 1,145,000 1,145,000 1,145,000 - 652,230 652,230 640,780 11,450 10,000 10,000 - 10,000 1,807,230 1,807,230 1,785,780 21,450 Principal 556,044 556,044 556,044 - Interest 80,000 80,000 79,157 843 Other Debt Service Costs 20,000 20,000 - 20,000 Total Guaranteed Entitlement Ln 656,044 656,044 635,201 20,843 Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Transfer from Other Funds 2,463,274 2,463,274 2,420,981 42,293 (1,799,229) (1,799,229) (1,754,465) 44,764 (289,038) (289,038) - 289,038 1,807,230 1,807,230 1,896,115 88,885 Total Other Financing Sources/(Uses) 1,518,192 1,518,192 1,896,115 377,923 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (281,037) (281,037) 141,650 422,687 177,901 177,901 177,901 - $ (103,136) $ (103,136) $ 319,551 $ 422,687 G-75 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CLERK'S REVENUE NOTE CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Capital Outlay: Court Services Network System Excess/Deficiency of Revenues Over/(Under) Expenditures Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ - $ - $ 2,216 $ 2,216 4,165 4,165 6,381 6,381 117,772 36,608 81,164 (117,772) (30,227) 87,545 (117,772) (30,227) 117,772 117,772 $ 117,772 $ - $ 117,772 87,545 87,545 $ 87,545 G-76 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL ONE CENT INFRASTRUCTURE SURTAX CAPITAL PROJECT FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Taxes Charges for Services Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Capital Outlay: General Government: Vehicle Replacement General Government Projects Total General Government Public Safety Physical Environment Transportation: Const. Mgmt Human Services Culture and Recreation Total Capital Outlay Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Transfers from Other Funds Transfers to Other Funds Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 10,500,000 $ 10,500,000 $ 14,875,923 $ 4,375,923 - - 315,072 315,072 375,000 375,000 1,128,744 753,744 - - 100 100 10,875,000 10,875,000 16,319,839 5,444,839 8,876 8,876 - 8,876 15,819,760 18,794,082 7,844,955 10,949,127 15,828,636 18,802,958 7,844,955 10,958,003 3,726,957 2,966,710 1,246,283 1,720,427 6,918,931 9,818,931 3,240,365 6,578,566 560,865 560,865 267,797 293,068 652,322 1,450,000 1,434,423 15,577 4,932,000 155,000 116,369 38,631 32,619,711 33,754,464 14,150,192 19,604,272 (21,744,711) (22,879,464) 2,169,647 25,049,111 (2,407,450) (1,421,335) - 1,421,335 - 451 451 (3,900,000) (3,751,362) (2,292,788) 1,458,574 Total Other Financing Sources/(Uses) (6,307,450) 5,172,697 (2,292,337) 2,880,360 Net Change In Fund Balances (28,052,161) (28,052,161) (122,690) 27,929,471 Fund Balances, October 1 39,700,287 39,700,287 39,700,287 - Fund Balances, September 30 $ 11,648,126 $ 11,648,126 $ 39,577,597 $ 27,929,471 G-77 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL INFRASTRUCTURE SALES SURTAX REVENUE BONDS, SERIES 2003 CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTEMBER 30, 2005 REVENUES: Investment Income EXPENDITURES: Current: Capital Outlay: General Government: General Government Projects I General Government Projects II Total General Government Public Safety: Public Safety Projects I Public Safety Projects II Total Public Safety Human Services: Human Service Projects I Human Service Projects II Total Human Services Total Capital Outlay Excess/Deficiency of Revenues Over/(Under) Expenditures Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 150,000 $ 150,000 $ 487,560 $ 337,560 8,690,000 450,000 245,493 204,507 2,182,501 10,422,501 - 10,422,501 10,872,501 10,872, 501 245,493 10,627,008 5,157,000 1,000,000 191,816 808,184 - 4,157,000 - 4,157,000 5,157,000 5,157,000 191,816 4,965,184 2,985,000 500,000 12,412 487,588 - 2,485,000 - 2,485,000 2,985,000 2,985,000 12,412 2,972,588 19, 014, 501 19, 014, 501 449,721 18, 564, 780 (18,864,501) (18,864,501) 37,839 18,902,340 (18,864,501) (18,864,501) 37,839 18,902,340 19,119,928 19,119,928 19,119, 928 $ 255,427 $ 255,427 $ 19,157,767 $ 18,902,340 G-78 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF NET ASSETS INTERNAL SERVICE FUNDS SEPTEMBER 30, 2005 ASSETS Current Assets: Cash and Cash Equivalents Accounts Receivable, Net Due from Other Funds Due from Other Governmental Units Total current assets Noncurrent Assets: Land and Other Nondepreciable Assets Capital Assets, Net of Accum. Depreciation Total Noncurrent Assets Total Assets LIABILITIES Current Liabilities: Accounts Payable Accrued Wages and Benefits Payable Claims and Judgements Payable Due to Other Funds Due to Other Governmental Units Accrued Comp. Absences Payable Other Current Liabilities Total Current Liabilities Noncurrent Liabilities: Accrued Comp. Absences Payable Total Liabilities NET ASSETS Invested in Capital Assets, Net of Related Debt Unrestricted Total Net Assets Worker's Compensation Fund Group Insurance Fund Risk Management Fund $ 7,504,255 $ 10,949,158 $ 2,787,193 - 15,750 2,971 23,937 250,231 - 7,528,192 11,215,139 2,790,164 6,031 2,267 1,985 6,031 2,267 1,985 7,534,223 11,217,406 2,792,149 29,772 121,315 14,552 3,684 4,343 4,049 1,732,252 3,095,791 1,501,607 142 - 5,923 35,684 - - 6,091 - - 4,250 2,885 - 1,811,875 3,224,334 1,526,131 10,479 18,264 9,288 1,822,354 3,242,598 1,535,419 6,031 2,267 1,985 5,705,838 7,972,541 1,254,745 $ 5,711,869 $ 7,974,808 $ 1,256,730 G-79 Fleet Management Fund Total $ 1,312,015 $ 22,552,621 - 18,721 1,473 1,473 145,614 419,782 1,459,102 22,992,597 54,000 54,000 1,308,311 1,318,594 1,362,311 1,372,594 2,821,413 24,365,191 147,537 313,176 20,015 32,091 - 6,329,650 445,520 451,585 36 35,720 - 6,091 - 7,135 613,108 7,175,448 62,381 100,412 675,489 7,275,860 1,362,311 1,372,594 783,613 15,716,737 $ 2,145,924 $ 17,089,331 G-80 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2005 Operating Revenues: Charges for Services Miscellaneous Total operating revenues Operating Expenses: Personnel Services Operations Depreciation and Amortization Asserted and Paid Claims Total operating expenses Operating Income/(Loss) Worker's Compensation Fund Group Insurance Fund Risk Management Fund $ 2,214,756 $ 14,115,750 $ 1,523,721 190,916 307,534 18,014 2,405,672 14,423,284 1,541,735 167,964 174,949 116,702 416,314 567,241 1,284,431 3,423 893 660 1,699,116 10,319,303 85,264 2,286,817 11,062,386 1,487,057 118,855 3,360,898 54,678 Non -Operating Revenues/(Expenses): Investment Income 163,157 232,462 75,766 Gain (Loss) on Disposition of Assets (777) - (6,759) Total Non -Operating Revenues/(Expenses) 162,380 232,462 69,007 Income/(Loss) Before Contributions and Transfers Transfers from Other Funds Transfers to Other Funds Capital Grants and Contributions Change in Net Assets Total Net Assets -October 1 281,235 3,593,360 123,685 1,223 - 282,458 3,593,360 123,685 5,429,411 4,381,448 1,133,045 Total Net Assets -September 30 $ 5,711,869 $ 7,974,808 $ 1,256,730 G-81 Fleet Management Fund Total $ 2,956,449 $ 20,810,676 680 517,144 2,957,129 21,327,820 865,181 1,324,796 1,463,229 3,731,215 74,531 79,507 - 12,103,683 2,402,941 17,239,201 554,188 4,088,619 33,230 504,615 (14,800) (22,336) 18,430 482,279 572,618 4,570,898 1,473 1,473 (445,500) (445,500) 1,223 128,591 4,128,094 2,017,333 12,961,237 $ 2,145,924 $ 17,089,331 G-82 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2005 Operating Activities: Cash received for services Cash rec'vd from other funds for goods and svcs Cash payments to suppliers for goods and svcs Cash payments to employees for services Cash payments to other funds Other operating revenue Net Cash Provided by/(Used in) Operating Activities Noncapital Financing Activities: Transfers from other funds Transfers to other funds Net Cash Provided/(Used) by Noncapital Financing Activities Capital and Related Financing Activities: Acquisition of capital assets Proceeds from sale of capital assets Net Cash Provided/(Used) by Capital and Related Financing Activities Investing Activities: Investment income Net Cash Provided/(Used) in Investing Activities Net Increase/(Decrease) in Cash and Cash Equivalents Cash and Cash Equivalents: October 1 September 30 Worker's Compensation Fund Group Insurance Fund Risk Management Fund $ 81,480 $ 3,708,025 $ 36,475 2,132,880 10,394,819 1,482,996 (1,346,501) (11,088,146) (1,413,884) (134,504) (130,923) (92,699) (29,463) (32,896) (18,029) 190,916 349,584 15,354 894,808 3,200,463 10,213 (5,254) (1,066) (6,195) (5,254) (1,066) (6,195) 163,157 232,462 75,766 163,157 232,462 75,766 1,052,711 3,431,859 79,784 6,451,544 7,517,299 2,707,409 $ 7,504,255 $ 10,949,158 $ 2,787,193 G-83 Fleet Management Fund Total $ 1,254,351 $ 5,080,331 1,625,433 15,636,128 (1,453,017) (15,301,548) (655,391) (1,013,517) (197,739) (278,127) 680 556,534 574,317 4,679,801 1,473 1,473 1,473 1,473 (18,758) (31,273) 1,024 1,024 (17,734) (30,249) 33,230 504,615 33,230 504,615 591,286 5,155,640 720,729 17,396,981 $ 1,312,015 $ 22,552,621 G-84 (Continued) MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CASH FLOWS - CONTINUED INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2005 Reconciliation of operating income/(loss) to net cash provided by/(used in) operating activities: Operating income/(loss) Adjustments to reconcile operating income/(loss) to net cash provided by/(used in) operating activities: Depreciation and Amortization Change in assets and liabilities: (Increase)/Decrease in Accounts receivable (Increase)/Decrease in Due from other funds (Increase)/Decrease in Due from other gov't units Increase/(Decrease) in Accounts payable Increase/(Decrease) in Accrued wages/benefits Increase/(Decrease) in Claims/judgments payable Increase/(Decrease) in Due to other funds Increase/(Decrease) in Due to other gov't units Increase/(Decrease) in Comp.absences payable Increase/(Decrease) in Other current liabiliities Total adjustments Net cash provided by/(used in) operating activities Noncash investing, capital, and financing activities: Contribution of capital assets from gov't Loss on disposition of assets Cash Reconciliation: Unrestricted Worker's Group Compensation Insurance Fund Fund Risk Management Fund $ 118,855 $ 3,360,898 $ 54,678 3,423 893 660 42,050 (2,660) (396) (3,402) - 14,088 30,507 (33,826) (6,614) (4,970) (1,034) 732,252 (212,106) - 142 - 5,923 35,684 (9,504) (4,250) (6,151) (872) (9,278) 3,525 (3,031) - 775,953 (160,435) (44,465) $ 894,808 $ 3,200,463 $ 10,213 $ 1,223 $ - $ $ (777) $ - $ (6,759) $ 7,504,255 $ 10,949,158 $ 2,787,193 G-85 Fleet Management Fund Total $ 554,188 $ 4,088,619 74,531 79,507 183 39,573 (1,473) (1,473) (75,375) (79,173) 72,131 82,900 (30,670) (43,288) - 520,146 (400) 5,665 (3) 21,927 (18,795) (35,096) - 494 20,129 591,182 $ 574,317 $ 4,679,801 $ - $ 1,223 $ (15,824) $ (23,360) $ 1,312,015 $ 22,552,621 G-86 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF FIDUCIARY NET ASSETS ALL AGENCY FUNDS SEPTEMBER 30, 2005 ASSETS Cash and Cash Equivalents Accounts Receivable Total assets Clerk's General Agency Sheriffs General Agency Tag and License $ 4,516,534 $ 632,896 $ 194,257 10,798 - 2,787 Property Tax $ 2,583,522 25 Totals $ 7,927,209 13,610 $ 4,527,332 $ 632,896 $ 197,044 $ 2,583,547 $ 7,940,819 LIABILITIES Due to Others $ 2,886,950 $ 632,896 $ 1,099 $ 9,282 $ 3,530,227 Due to Other Governmental Units 1,640,382 - 195,945 2,574,265 4,410,592 Total liabilities $ 4,527,332 $ 632,896 $ 197,044 $ 2,583,547 $ 7,940,819 G-87 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS ALL AGENCY FUNDS FOR YEAR ENDED SEPTEMBER 30, 2005 10/1/2004 Additions Deductions 9/30/2005 Clerk's General Assets Cash and Cash Equivalents $ 3,537,278 $ 61,239,001 $ 60,259,745 $ 4,516,534 Accounts Receivable 14,589 27,408 31,199 10,798 Total assets $ 3,551,867 $ 61,266,409 $ 60,290,944 $ 4,527,332 Liabilities Due to Others $ 1,761,778 $ 5,122,810 $ 3,997,638 $ 2,886,950 Due to Other Governmental Units 1,790,089 56,143,599 56,293,306 1,640,382 Total liabilities $ 3,551,867 $ 61,266,409 $ 60,290,944 $ 4,527,332 Sheriffs General Assets Cash and Cash Equivalents $ 621,481 $ 2,424,244 $ 2,412,829 $ 632,896 Liabilities Due to Others $ 605,649 $ 2,424,244 $ 2,396,997 $ 632,896 Due to Other Governmental Units 15,832 - 15,832 - Totalliabilities $ 621,481 $ 2,424,244 $ 2,412,829 $ 632,896 Tag and License Assets Cash and Cash Equivalents Accounts Receivable Total assets Liabilities Due to Others Due to Other Governmental Units Total liabilities $ 332,563 $ 12,035,576 $ 12,173,882 $ 194,257 2,080 707 - 2,787 $ 334,643 $ 12,036,283 $ 12,173,882 $ 197,044 $ 2,117 $ 24,456 $ 25,474 $ 1,099 332,526 12,011,827 12,148,408 195,945 $ 334,643 $ 12,036,283 $ 12,173,882 $ 197,044 (Continued) G-88 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF FIDUCIARY NET ASSETS - CONTINUED ALL AGENCY FUNDS FOR YEAR ENDED SEPTEMBER 30, 2005 10/1/2004 Additions Deductions 9/30/2005 Property Tax Assets Cash and Cash Equivalents $ 2,254,844 $ 213,549,304 $ 213,220,626 $ 2,583,522 Accounts Receivable 282 - 257 25 Total assets $ 2,255,126 $ 213,549,304 $ 213,220,883 $ 2,583,547 Liabilities Due to Others $ 6,315 $ 4,931,499 $ 4,928,532 $ 9,282 Due to Other Governmental Units 2,248,811 208,617,805 208,292,351 2,574,265 Total liabilities $ 2,255,126 $ 213,549,304 $ 213,220,883 $ 2,583,547 Total All Agency Funds Assets Cash and Cash Equivalents $ 6,746,166 $ 289,248,125 $ 288,067,082 $ 7,927,209 Accounts Receivable 16,951 28,115 31,456 13,610 Total assets $ 6,763,117 $ 289,276,240 $ 288,098,538 $ 7,940,819 Liabilities Due to Others $ 2,375,859 $ 12,503,009 $ 11,348,641 $ 3,530,227 Due to Other Governmental Units 4,387,258 276,773,231 276,749,897 4,410,592 Total liabilities $ 6,763,117 $ 289,276,240 $ 288,098,538 $ 7,940,819 G-89 STATISTICAL SECTION (Unaudited) THIS PAGE INTENTIONALLY LEFT BLANK 1 1 1 1 I 1 1� I P ONN vtNp�pMOrrr N10C4 hti !�rrNIn PIS M<O t�NC� � MOON (et Nti � fOG.�Nt;;z9! NrrM(OODr n„ O�A�A 00 M - 0 NaD�'01 CD aDO Oa�Ng1111 001.28910 MCV �!'�AN•`00 NOco �hMN�O�N n I�C9fDCD�fAMfOhhPl�OcO fDhh 1ntnO"It P%Lr% fO Cp7�rin�hlncfl ate-- ui r—Nto C�NrrMMMr r r c0 y C9 16, fco Mp_01�NMfrO�NLI As �r.-s enc!rl. f�0��a- — - - - 0c0�pp1M �t��ppere��r0lpefr'NMfO g,6 h OCDhI� In -MNrNI- 1>cpOOifnInONM h000� I-fM r-r.- MMIn O� cpNOrO rMr r00I-coMClin N�fVM�� NMN1p1�NNrMMMa�' It lttA'07NIMn�, 0� gV0-09 OaMDIp��M.QIIpVW r, M0CG01pPng OMMOMcfDo MMMM-NnppMO O O O N)ON 0 .or--m V—M-NMdM(O O-: �OvtiIVM m(6 w O Z NCDHMpoo_ O r N to b9 t9 Z fA Q pp ��pp NN W 0 O } INn'91:M viissm I11 �O Of C09cODCONfMO��0�p0�n m {� fO n n Co v) � O V% c)M r-00) O)Cp an^fA O)N�} Nt-r MW friC+�1n eF tO MOI co N N rN(� N((pp�(n(ONMppppMrc7 ppMr r-rCp fOFN ��nfAN 0 rNNOOI�MwcON2t2 co cf)MM NMfnrc001 NMPtn p CO) _ Z N I,- IP IA CD h It co d . M C4 W fr) 00 1n N 0 co it Cl) M C9 (G h 0) O M c0 r r M 0 M f0 r r r N r N N �O m %� fs ; s ON W Z S W m ww 30 IL g Z U) Z W O Z m > m O E o v0°i Q LL M m � 7 C j m m m mE Ec c mc E cUc10 cmp' �H Ormn�.'9�fE cc o LE Q > v�Cmg J2 Uc� cm E wUmUmmro N �9 H 0�O o H >, C9dd1--w=UUEw°HYi C UOU 0 0D2 O MONROE COUNTY, FLORIDA GENERAL GOVERNMENT EXPENDITURES BY FUNCTION FOR LAST TEN FISCAL YEARS FISCAL GENERAL PUBLIC PHYSICAL TRANS- ECONOMIC YEAR GOVERNMENT SAFETY ENVIRONMENT PORTATION ENVIRONMENT 1996 $ 24,652,862 $ 45,968,956 $ 1,334,988 $ 4,836,343 $ 9,408,309 1997 26,213,577 51,527,757 946,811 5,663,889 9,617,725 1998 21,004,358 56,691,835 2,299,807 4,507,675 10,747,966 1999 27,485,498 65,102,191 2,174,127 5,762,030 11,686,359 2000 21,771,656 72,758,894 3,847,743 4,694,097 11,659,885 2001 22,155,936 80,269,749 2,080,369 5,712,651 11,772,376 2002 31,214,821 82,854,954 1,561,508 5,976,504 15,393,516 2003 26,955,732 83,048,057 2,936,950 9,101,725 14,581,328 2004 28,801,371 85,887,994 2,650,880 5,690,399 14,311,284 2005 34,549,108 84,593,457 3,948,723 5,770,073 16,112,528 * Includes all governmental fund types, except capital projects. H-2 HUMAN CULTURE AND COURT DEBT SERVICE TOTAL* $ 5,769,102 $ 4,332,830 $ -- $ 5,777,227 $ 102,080,617 5,862,235 3,657,464 -- 5,971,019 109,460,477 6,237,775 3,720,300 6,615,544 5,865,981 117,691,241 6,303,742 4,725,431 6,856,998 5,618,956 135,715,332 6,873,898 3,872,241 6,959,147 5,582,234 138,019,795 7,121,592 3,458,415 7,099,591 5,661,809 145,332,488 7,488,693 3,791,980 7,766,512 6,049,706 162,098,194 8,073,738 4,137,030 7,904,583 6,769,696 163,508,839 7,274,799 3,636,812 7,973,441 7,661,870 163,888,850 7,971,224 4,227,140 6,358,890 3,068,061 166,599,204 H-3 MONROE COUNTY, FLORIDA GENERAL GOVERNMENT REVENUE BY SOURCE FOR LAST TEN FISCAL YEARS LICENSES INTER CHARGES FISCAL AND GOVERN- FOR YEAR TAXES PERMITS MENTAL SERVICES 1996 $ 62,514,109 $ 2,481,768 $ 26,456,481 $ 9,534,513 1997 65,383,485 2,227,459 29,245,422 8,590,395 1998 68,833,788 2,295,628 33,651,691 8,751,295 1999 67,721,136 2,125,529 43,887,413 8,504,837 2000 69,450,570 1,960,901 41,797,292 7,757,517 2001 67,550,895 1,572,473 43,260,478 15,164,412 2002 83,342,742 1,916,623 43,285,349 16,774,154 2003 87,766,227 2,148,297 47,015,974 13,138,522 2004 95,446,063 2,638,326 51,244,404 12,473,175 2005 100,905,364 2,835,158 48,008,225 16,252,060 *Includes all governmental fund types. H-4 FINES AND INVESTMENT MISCEL- FORFEITURES INCOME LANEOUS TOTAL* $ 2,807,175 $ 5,266,515 $ 2,603,888 $ 111,664,449 4,420,164 5,696,786 2,388,447 117,952,158 3,094,869 6,329,767 3,471,378 126,428,416 28,631,619 5,790,945 4,843,391 161,504,870 3,234,064 8,567,628 1,773,217 134,541,189 4,728,738 7,292,607 1,988,008 141,557,611 9,369,901 3,624,547 2,099,324 160,412,640 2,921,843 2,750,580 2,271,412 158,012,855 2,757,234 2,546,193 2,048,530 169,153,925 2,242,084 5,106,613 7,220,356 182,569,860 H-5 MONROE COUNTY, FLORIDA PROPERTY TAX LEVIES AND COLLECTIONS FOR LAST TEN FISCAL YEARS FISCAL TAX YEAR LEVY TAX PERCENT OF COLLECTION LEVY COLLECTED 1996 $ 51,350,380 $ 49,747,700 96.9 1997 53,523,947 51,917,045 97.0 1998 56,473,845 54,723,468 97.0 1999 55,411,449 53,578,782 97.0 2000 56,096,471 54,023,766 96.0 2001 53,154,741 51,323,260 96.0 2002 56,741,898 54,763,033 97.0 2003 60,408,846 58,373,078 97.0 2004 62,648,224 60,388,180 96.0 2005 67,768,685 65,449,980 97.0 Property tax levies, based on assessed values as of January 1 st, become due and payable on November 1st of each year. A four percent discount is allowed if the taxes are paid in November, with the discount declining by one percent each month thereafter. Accordingly, taxes collected will never be one hundred percent of the tax levy. Taxes become delinquent on April 1 st of each year and tax certificates for the full amount of any unpaid taxes and assessments must be sold not later than June 1 st of each year. Property taxes receivable and a corresponding reserve for uncollectible property taxes are not included in the financial statements as there are no delinquent taxes as of September 30, 2005. Source: Monroe County Tax Collector YEAR 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 MONROE COUNTY, FLORIDA ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY FOR LAST TEN FISCAL YEARS REAL PROPERTY ASSESSED VALUE 6,856,274,547 6,970,972,120 7,513,987,881 7,951,158,054 8,682,695,235 9,560,072,249 10,903,750,374 12,267,633,111 14,289,895,852 16,870,178,219 PERSONAL PROPERTY ASSESSED VALUE 360,857,198 355,388,938 341,038,010 363,277,323 392,464,314 398,805,072 419,964,709 416,199, 891 424,177,522 473,671,643 TOTAL ASSESSED VALUE 7,217,131,745 7,326,361,058 7,855,025,891 8,314,435,377 9,075,159,549 9,958,877,321 11,323,715,083 12,683,833,002 14,714,073,374 17,343,849,862 Assessed values used are net taxable values after deducting allowable statutory exemptions. Property is assessed as of January 1 st and taxes based on those assessments are levied and become due on the following November 1 st. Therefore, assessments and levies applicable to a certain tax year are collected in the fiscal year ending during the next succeeding calendar year. Estimated actual value for each tax year is equal to the assessed value. The ratio of total assessed to the total estimated actual value is 100% for each tax year. Source: Monroe County Property Appraiser H-7 MONROE COUNTY, FLORIDA PROPERTY VALUE, CONSTRUCTION AND BANK DEPOSITS FOR LAST TEN FISCAL YEARS FISCAL PROPERTY YEAR VALUE* 1996 $ 4,957,041,364 $ 1997 4,978,695,909 1998 5,221,503,169 1999 4,399,264,593 2000 4,742,183,007 2001 4,330,433,917 2002 5,022,430,274 2003 5,721,862,318 2004 6,921,545,106 2005 8,033,668,955 BANK CONSTRUCTION DEPOSITS*' 79,313,136 $ 999,568,000 81,984,599 1,071,370,000 81,159,701 1,117,690,000 66,148,495 1,255,767,000 108,526,787 1,346,580,000 70,942,170 1,427,373,000 88,916,136 1,531,251,000 90,069,871 1,656,183,000 113,677,322 1,946,799,000 132,896,319 2,196,748,000 Taxable property value and construction does not include the municipal areas of the County. In Fiscal year 1999, Islamorada incorporated. In Fiscal year 2001, Marathon incorporated. Construction amounts include new taxable construction minus deletions from the Tax Roll. Source: * Monroe County Property Appraiser ** Florida Banker's Association MONROE COUNTY, FLORIDA PROPERTY TAX RATES - DIRECT AND OVERLAPPING GOVERNMENTS FOR LAST TEN FISCAL YEARS TAX RATES (MILLAGE) SCHOOL BOARD COUNTY* TAX YEAR OPERATING DEBT SERVICE OPERATING DEBT SERVICE OTHER** TOTAL 1996 6.2530 -- 6.0857 -- 1.3840 13.7227 1997 5.9021 -- 5.8089 -- 1.5850 13.2960 1998 6.0730 -- 5.5354 -- 1.6391 13.2475 1999 5.6550 -- 5.1056 -- 1.6391 12.3997 2000 5.1840 -- 4.2181 -- 1.6391 11.0412 2001 4.9890 -- 4.4369 -- 2.2357 11.6616 2002 4.7130 -- 4.1586 -- 1.916 10.7876 2003 4.4220 -- 3.6903 -- 1.8308 9.9431 2004 3.9320 -- 3.3244 -- 1.7501 9.0065 2005 3.3820 -- 3.1223 -- 1.7200 8.2243 Property is assessed as of January 1st and the taxes based on those assessments are levied according to the tax rate in effect during that tax year and become due on November 1st. Therefore, assessments and tax levies applicable to a certain tax year are collected in the fiscal year ending during the following calendar year. Monroe County does not have outstanding debt funded by ad valorem taxes. * County millage consists of the General Revenue Fund, the Fine and Forfeiture Fund, the Health Clinic and the General Purpose Fund. ** Consists of the following districts: Monroe County Mosquito Control, South Florida Water Management, Okeechobee Basin Fund, Big Cypress Fund, Everglades Construction Project and Monroe County Road Patrol Law Enforcement. Source: Monroe County Tax Collector H-9 TAXPAYER** 1. Fla. Keys Electric Co -Op 2. BellSouth 3. Casa Marina Owner LLC 4. Windward Point LLC 5. Galleon Condominium Assoc 6. Cheeca Holdings LLC 7. Tannex Development Corp 8. Hawks Cay Investors LTD 9. Pier House Joint Venture 10. KW Beach Suites LTD MONROE COUNTY, FLORIDA PRINCIPAL TAXPAYERS ASSESSED VALUE* $ 72,406,440 73,458,624 45,887,445 43,709,650 42,086,530 32,816,249 32,349,480 28,325,854 27,176,268 22,000,000 $ 420,216,540 Source: * Monroe County Property Appraiser *' Monroe County Tax Collector 2005 FISCAL YEAR TAXES COLLECTED** $ 781,220 753,199 485,096 466,886 444,914 346,664 341,980 290,980 287,292 232,571 $ 4,430,802 PERCENTAGE OF TOTAL COLLECTED** 0.42% 0.40% 0.26% 0.25% 0.24% 0.18% 0.18% 0.16% 0.15% 0.12% 2.36% H-10 MONROE COUNTY, FLORIDA RATIO OF NET GENERAL BONDED DEBT TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA FOR LAST TEN FISCAL YEARS REAL PROPERTY TAXABLE GROSS DEBT ASSESSED BONDED SERVICE YEAR POPULATION VALUE** DEBT FUNDS 1996 80,730 $ 7,217,131,745 $-- 1997 81,919 7,326,361,058 -- -- 1998 85,646 7,513,987,881 -- -- 1999 79,941 7,951,158,054 -- -- 2000 79,589 8,682,695,235 -- -- 2001 79,240 9,560,072,249 -- -- 2002 79,330 10,903,750,374 -- -- 2003 80,537 12,267,633,111 -- -- 2004 81,236 14,289,895,852 -- -- 2005 78,284 16,870,178,219 -- -- Property Taxable Value Assessments are as of January 1st of each year. Monroe County does not have general bonded debt. Source: * U.S. Bureau of the Census ** Monroe County Property Appraiser H-11 MONROE COUNTY, FLORIDA COMPUTATION OF DIRECT UNDERLYING AND OVERLAPPING DEBT GOVERNMENTAL UNIT Monroe County, Florida $ SEPTEMBER 30, 2005 GROSS DEBT PERCENTAGE APPLICABLE TO THIS GOVERNMENTAL UNIT OVERLAPPING NET DEBT Monroe County does not have outstanding general obligation debt funded by ad valorem taxes. H-12 MONROE COUNTY, FLORIDA RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL BONDED DEBT TO TOTAL GENERAL GOVERNMENT EXPENDITURES FOR LAST TEN FISCAL YEARS FISCAL YEAR PRINCIPAL INTEREST 1996 $ 3,475,000 $ 2,198,015 **$ 1997 3,655,000 2,014,990 1998 3,845,000 1,298,096 1999 4,280,000 1,263,255 2000 4,455,000 1,034,686 2001 4,690,000 818,836 2002 4,855,000 630,195 2003 5,085,000 749,606 2004 6,171,359 846,396 2005 1,701,045 719,937 GENERAL OTHER TOTAL GOVERNMENT DEBT DEBT EXPENDITURES SERVICE SERVICE* *** 104,212 $ 5,777,227 $ 102,080,617 301,029 5,971,019 109,460,477 722,885 5,865,981 117,691,241 75,701 5,618,956 135,715,332 92,548 5,582,234 138,019,795 152,973 5,661,809 145,332,488 564,511 6,049,706 162,098,194 935,090 6,769,696 163,508,839 644,115 7,661,870 163,888,850 647,079 3,068,061 166,599,204 RATIO OF DEBT SERVICE TO GENERAL GOVERNMENT EXPENDITURES * Debt Service includes principal and interest on general obligation bonds, revenue bonds, bond anticpation notes and other loan and notes payable. ** Interest includes fiscal charges. *** H-2 5.66% 5.46% 4.99% 4.14% 4.04% 3.90% 3.73% 4.14% 4.68% 1.84% H-13 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUE BOND COVERAGE MUNICIPAL SERVICE DISTRICT - WASTE FOR LAST TEN FISCAL YEARS NET REVENUE DEBT SERVICE REQUIREMENTS FISCAL GROSS AVAILABLE FOR TIMES YEAR REVENUE"' EXPENSES" DEBT SERVICE PRINCIPAL INTEREST TOTAL COVERAGE 1996 $ 15,183,770 $ 13,055,040 $ 2,128,730 $ 335,000 $ 556,162 $ 891,162 2.39 1997 15,352,388 13,452,269 1,900,119 355,000 536,732 891,732 2.13 1998 16,116,708 14,058,422 2,058,286 375,000 515,788 890,788 2.31 1999 43,130,141 42,069,856 1,060,285 405,000 493,288 898,288 1.18 2000 14,648,737 12,760,853 1,887,884 425,000 468,380 893,380 2.11 2001 14,283,981 12,046,585 2,237,396 455,000 441,605 896,605 2.50 2002 13,891,015 12,738,898 1,152,117 480,000 412,485 892,485 1.29 2003 13,459,762 12,663,904 795,858 6,140,000 *** 205,854 6,345,854 0.13 2004 13,963,983 13,459,548 504,435 323,087 151,265 474,352 1.06 2005 14,980,597 14,113,833 866,764 423,468 136,825 560,293 1.55 * "Gross Revenue" shall mean all rates, fees, charges, assessments or other income received by the County or accrued to the County or any agency thereof in control of the management and operation of said Municipal Service District -Waste. Excluded from "Gross Revenue" is interest earned on funds held in escrow for the retirement of refunded 1980 Bonds. Fiscal year 1999 revenue includes $3,560,134 match transferred for a portion of Hurricane Georges expenditures. *' "Expenses" exclude depreciation of fixed assets and amortization of deferred charges which are reflected as expenses in the financial statements. * * The 1991 MSD Refunding Revenue Bonds were refunded in FY 03. A portion of the refunding was completed with the Solid Waste System Refunding Note, Series 2002 on 12/19/2002. H-14 MONROE COUNTY, FLORIDA SCHEDULE OF INSURANCE COMPANIES SEPTEMBER 30, 2005 INSURANCE COMPANY Midwest Employers Casuality Co Preferred Governmental Claim Solutions Fidelity National Property & First Community Florida Municipal Insurance Trust Worker's Compensation Volunteer Firefighters - Hartford - AD&D Ace Property & Casualty Insurance Company United Capitol Insurance Company Ace Illinois Union Florida Windstorm Underwriting Association Omaha Property & Casualty Florida Sheriffs Self -Insurance Fund Hartford Life Insurance Lexington Insurance American Alternative Insurance Lantana Insurance LTD POLICY PERIOD 10/01 /04 - 09/30/05 10/1104 - 9/30/05 09/20/05 - 06, 09/18/05 - 06, 05/18/05 - 06 10/11/05 - 06, 04/03/05 - 06, 08/05/05 - 06 09/24/05 - 06, 10/05/05 - 06, 07/19/05 - 06 01/29/05 - 06, 06/18/05 - 06, 08/01/05 - 06 06/27/05 - 06, 11 /19/05 - 06, 02/22/05 - 06 10/01 /05 - 09/30/06 10/01 /04 - 09/30/05 07/27/05 - 06 03/12/05 - 08 12/20/05 - 06 05/21/05 - 06 02/20/05-06, 08/24/05-06 10/01 /05 - 06 10101 /04 - 09/30/05 05/01 /05 - 06 10/01 /05 - 09/30/06 04/30/05 - 06 H-15 MONROE COUNTY, FLORIDA SCHEDULE OF INSURANCE AGENCIES SEPTEMBER 30, 2005 AGENCY Arthur J. Gallagher & Co. Acordia National Porter Allen Insurance Company EXPIRATION DATE 04/16/06 12/20/06 07/21 /06 09/30/05 04/03/07 09/11 /06 04/03/06 04/03/07 10/05/06 10/05/06 10/05/06 10/05/06 04/03/07 04/03/07 04/03/07 04/03/07 04/03/07 04/03/07 10/17/06 04/30/07 04/30/07 06/18/06 05/18/06 08/05/06 07/19/06 07/19/06 11 /13/06 08/23/06 10/11 /06 09/24/06 01 /29/07 11 /28/05 06/27/06 04/01 /07 04/01 /07 11 /19/06 02/22/07 07/01 /06 08/24/06 ANNUAL PREMIUM $ 14,829 19,789 75,821 198,000 304 733 5,055 3,523 3,328 338 397 327 1,033 1,083 299 1,284 1,098 1,344 1,799 1,646 1,084 670 1,959 1,956 2,962 852 1,100 20,275 2,177 3,357 2,189 11,997 6,994 6,618 6,618 612 341 1,443 3,102 H-16 MONROE COUNTY, FLORIDA SCHEDULE OF INSURANCE AGENCIES SEPTEMBER 30, 2005 EXPIRATION AGENCY DATE The Johnson's Insurance Agency 02/20/06 05/29/06 Florida League of Cities 10/01/06 The CIMA Companies, Inc. 07/04/05 - 06 VFIS of Fla. 10/01/06 Hunt Insurance Group, Inc. 09/30/05 Marsh USA, Inc. 05/01/05 The Hartford Life Ins. 09/30/05 ANNUAL PREMIUM 2,423 195,609 293,758 2,649 55,953 25,000 410,218 144,000 H-17 MONROE COUNTY, FLORIDA SALARIES AND SURETY BONDS OF PRINCIPAL OFFICIALS SEPTEMBER 30, 2005 NAME AND TITLE OF OFFICIAL ANNUAL AMOUNT OF SALARY SURETY BOND Charles "Sonny" McCoy - Mayor, Board of County Commissioners $ 41,106 Dixie M. Spehar - Member, Board of County Commissioners 41,106 George R. Neugent - Member, Board of County Commissioners 41,106 Murray E. Nelson - Member, Board of County Commissioners 41,106 David P. Rice - Member, Board of County Commissioners 41,106 Danny L. Kolhage - Clerk of Circuit Court and Chief Financial Officer 101,894 Richard D. Roth - Sheriff 109,863 Harry L. Sawyer, Jr. - Supervisor of Elections 85,715 Ervin A. Higgs - Property Appraiser 100,667 Danise Henriquez - Tax Collector 101,894 Thomas Willi - County Administrator 151,600 H-18 2,000 2,000 2,000 2,000 2,000 5,000 15,000 5,000 10,000 50,000 MONROE COUNTY, FLORIDA DEMOGRAPHIC STATISTICAL DATA LAST TEN YEARS YEAR POPULATION (1) 1996 80,730 1997 81,919 1998 85,646 1999 79,941 2000 79,589 2001 79,240 2002 79,330 2003 80,537 2004 81,236 2005 78,284 PER CAPITA INCOME (2) $ 28,236 29,657 32,596 33,419 37,019 37,144 36,758 37,901 NA NA SCHOOL ENROLLMENT (3) 9,422 9,529 9,213 9,194 8,979 8,847 8,767 8,633 8,618 8,492 NA - Data Not Currently Available Sources: (1) U.S. Bureau of the Census (2) U.S. Department of Commerce, Bureau of Economic Analysis (3) Monroe County School Board (4) U.S. Department of Labor, Bureau of Labor Statistics UNEMPLOYMENT RATE PERCENTAGE (4) 2.9 2.5 2.7 2.3 2.0 2.4 2.7 2.2 2.2 3.0 H-19 MONROE COUNTY, FLORIDA MISCELLANEOUS STATISTICAL DATA SEPTEMBER 30, 2005 Government Structure Governing Body: Monroe County Board of County Commissioners Number of Seats: 5 Length of Term: 4 years Mayor: Chosen annually by fellow commissioners Chief Administrative Position: County Administrator Date originally established constitutionally: Date of present constitution establishment: Form of government: Present area: July 3, 1823 May 13, 1887 Constitutional County 1,875.54 square miles POPULATION*: Date Residents Increase % 1996 80,730 -1.37% 1997 81,919 1.47% 1998 85,646 4.55% 1999 79,941 -6.60% 2000 79,589 -0.44% 2001 79,240 -0.44% 2002 79,330 0.11 % 2003 80,537 1.52% 2004 81,236 0.87% 2005 78,284 -3.63% Source: *U.S. Bureau of the Census EDUCATION: Number of schools: High Schools 3 Middle Schools 1 Elementary Schools 5 Middle/Elementary Schools 3 Number of Administrators 28 Number of Teachers 689 Source: Monroe County School Board EMPLOYEES: Property Appraiser 46 Tax Collector 61 Board of County Commissioners 586 Clerk of Circuit Court 105 Supervisor of Elections 12 Sheriff 547 Land Authority 2 AMBULANCE SERVICE: Number of vehicles 14 Number of employees 61 Number of volunteers 36 H-20 MONROE COUNTY, FLORIDA MISCELLANEOUS STATISTICAL DATA - CONTINUED SEPTEMBER 30, 2005 HEALTH CARE: Medical Facilities Lower Keys Medical Center Fishermen's Hospital Mariners Hospital Source: Agency for Health Care Administration Office of Health Facility Regulation FIRE PROTECTION: Number of stations Number of volunteers Number POLICE PROTECTION: of Beds Number of stations 5 118 Number of employees: 58 Law Enforcement Sworn 188 42 Law Enforcement Non -Sworn 148 Corrections Sworn 152 Corrections Non -Sworn 39 Court Security Sworn 14 Court Security Non -Sworn 6 Source: Monroe County Sheriffs Department 11 185 PUBLIC LIBRARIES: Library Facilities 5 Library Holdings 201,469 H-21 THIS PAGE INTENTIONALLY LEFT BLANK SINGLE AUDIT AND GRANTS COMPLIANCE THIS PAGE INTENTIONALLY LEFT BLANK Independent Auditors' 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 To the Honorable Mayor and Board of County Commissioners of Monroe County, Florida: We have audited the financial statements of the governmental activities, the business -type activities, each major fund and the aggregate remaining fund information of Monroe County, Florida (the "County") as of and for the year ended September 30, 2005, which collectively comprise the County's basic financial statements, and have issued our report thereon dated March 1, 2006. We did not audit the financial statements of the Monroe County Housing Finance Authority, the County's discretely presented component unit. Those financial statements were audited by other auditors whose report thereon has been furnished to us, and our opinion, insofar as it relates to the amounts included for the Monroe County Housing Finance Authority, is based solely on the report of other auditors. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Internal Control over Financial Reporting In planning and performing our audit, we considered the County's internal control over financial reporting in order to determine our auditing procedures for the purpose of expressing our opinions on the financial statements and not to provide an opinion on the internal control over financial reporting. Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the internal control over financial reporting that might be material weaknesses. A material weakness is a reportable condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements caused by error or fraud in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control over financial reporting and its operation that we consider to be material weaknesses. We noted other matters involving internal control over financial reporting that we have reported to management of the County in a separate management letter dated March 1, 2006. 1-1 Compliance and Other Matters As part of obtaining assurance about whether the County's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. 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. We noted certain matters that we have reported in separate management letters to the management of County agencies. This report is intended solely for the information and use of management, the County Mayor, and Board of County Commissioners of Monroe County, Florida, and applicable state and federal agencies, and is not intended to be and should not be used by anyone other than these specified parties. �`-.�`. , CASI.*X, 'L. & ' P West Palm Beach, Florida March 1, 2006 1-2 Independent Auditors' Report on Compliance and Internal Control Over Compliance Applicable to each Major Federal Awards Program and State Financial Assistance Projects To the Honorable Mayor and Board of County Commissioners of Monroe County, Florida: Compliance We have audited the compliance of Monroe County, Florida (the "County") with the types of compliance requirements described in the U.S. Office of Management and Budget (OMB) CircularA-133 Compliance Supplement, and the requirements described in the Executive Office of the Governor's State Projects Compliance Supplement, that are applicable to each of its major federal awards programs and state financial assistance projects for the year ended September 30, 2005. The County's major federal awards programs and state financial assistance projects are identified in the summary of auditors' results section of the accompanying Schedule of Findings and Questioned Costs. Compliance with the requirements of laws, regulations, contracts, and grants applicable to each of its major federal awards programs and state financial assistance projects is the responsibility of the County's management. Our responsibility is to express an opinion on the County's compliance based on our audit. We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Govemment Auditing Standards, issued by the Comptroller General of the United States; OMB Circular A-133, Audits of States, Local Govemments, and Non - Profit Organizations, and Chapter 10.550, Rules of the Auditor General. Those standards, OMB Circular A-133, and Chapter 10.550, Rules of the Auditor General, require that we plan and perform the audit to obtain reasonable assurance about whether non-compliance with the types of compliance requirements referred to above that could have a direct and material effect on a major federal awards program or state financial assistance project occurred. An audit includes examining, on a test basis, evidence about the County's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal determination of the County's compliance with those requirements. 1-3 In our opinion, the County complied, in all material respects, with the requirements referred to above that are applicable to each of its major federal awards programs and state financial assistance projects for the year ended September 30, 2005. Internal Control over Compliance The management of the County is responsible for establishing and maintaining effective internal control over compliance with requirements of laws, regulations, contracts, and grants applicable to federal awards programs and state financial assistance projects. In planning and performing our audit, we considered the County's internal control over compliance with requirements that could have a direct and material effect on a major federal awards program or state financial assistance project in order to determine our auditing procedures for the purpose of expressing our opinion on compliance and to test and report on internal control over compliance in accordance with OMB Circular A-133 and Chapter 10.550, Rules of the Auditor General. Our consideration of the internal control over compliance would not necessarily disclose all matters in the internal control that might be material weaknesses. A material weakness is a reportable condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that non-compliance with applicable requirements of laws, regulations, contracts, and grants caused by error or fraud that would be material in relation to a major federal awards program or state financial assistance project being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control over compliance and its operation that we consider to be material weaknesses. This report is intended solely for the information and use of management, the County Mayor and the Board of County Commissioners of Monroe County, Florida, and applicable state and federal agencies, and is not intended to be and should not be used by anyone other than these specified parties. West Palm Beach, Florida March 1, 2006 M THIS PAGE INTENTIONALLY LEFT BLANK Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance For the Year Ended September 30, 2005 Federal/State Agency, Pass -through Entity CFDA Federal Program/State Project Number Department of Agriculture: Passed through State Department of Elder Affairs and Alliance for Aging: USDA 2004 10.570 USDA 2005 10.570 Total Federal Agency Department of Commerce: Direct Program: Coastal Impact Asst. Program 11.419 Passed through Florida Department Of Environmental Protection: Coastal Impact Asst. Program Grant 11.419 Total Federal Agency Department of Health and Human Services: Passed through State Department of Elder Affairs and Alliance for Aging: Title 1116 Support Services - 2004 93.044 Title 1116 Support Services - 2005 93.044 Total Program Title IIIC-1 Congregate Meals - 2004 93.045 Title IIIC-2 Home Delivered Meals 2004 93.045 Title IIIC-1 Congregate Meals - 2005 93.045 Title IIIC-2 Home Delivered Meals 2005 93.045 Total Program Title III-E In -Home Services - 2004 93.052 Title III-E In -Home Services - 2005 93.052 Total Program Passed through Florida Department of Revenue: Child Support Enforcement Title IV-D 93.563 Passed through State Department of Community Affairs: Low Income Home Energy Assistance Prog 2004 93.568 Low Income Home Energy Assistance Prog 2005 93.568 Total Program Total Federal Agency The accompanying notes are an integral part of this schedule. 1-5 Contract Grant Number Expenditures US451 2,263 US551 47,274 49,537 NA170Z2123 139,787 G0007 20,943 160,730 AA429 29,726 AA529 73,821 103,547 AA429 50,352 AA429 66,745 AA529 121,257 AA529 151,580 389,934 AA429 19,708 AA529 37,767 57,475 CC344 135,540 04EA-4P-11-54-01-019 42,091 05EA-5K-11-54-01-019 49,433 91,524 778,020 (Continued) Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance - Continued For the Year Ending September 30, 2005 Federal/State Agency, Pass -through Entity CFDA Federal Prouram/State Project Number Department of Housing and Urban Development: Passed through State Department of Community Affairs: Community Development Block Grant 14.228 Department of the Interior: Direct Program: Fish and Wildlife Service: Clean Vessel Act - 2005 15.616 Clean Vessel Act - 2005 15.616 Total Federal Agency Department of Justice: Direct Program: Bureau of Justice Assistance: Bulletproof Vest Partnership Grant 16.607 Local Law Enforcement Block Grant 16.592 Passed through Office of the Attorney General: Victims of Crime Acts 16.575 Passed through Florida Department of Law Enforcement: Byrne Formula Grant Program- Peacock - 2005 16.579 Byrne Formula Grant Program - US Fellowship of Florida - 2005 16.579 Byrne Formula Grant Program - Total Care Center Mental Health- 2005 16.579 Byrne Formula Grant Program - MC Education Foundation - 2005 16.579 Byrne Formula Grant Program - Boys and Girls Club - 2005 16.579 Total Program Residential Substance Abuse Treatment for State Prisoners - 2004 16.593 Total Federal Agency Election Assistance Commission: Passed through Florida Department of State: Help America Vote Act Tabulation Grant 90.401 Help America Vote Act Education Grant 39.011 Total Federal Agency The accompanying notes are an integral part of this schedule. 1-7 Contract Grant Number Expenditures 03DB-1 A-11-54-01-H32 151,300 LE507 33,790 LE567 50,000 83,790 78,759 2003-LB-BX-0804 44,706 V3036 217,450 05-CJ--J3-11-54-01-271 4,762 05-CJ-K3-11-54-01-080 38,627 05-CJ-K3-11-54-01-081 9,059 05-CJ-K3-11-54-01-082 45,000 05-CJ-K3-11-54-01-083 26,795 124,243 04-CJ-7J-11-54-01-006 63,581 528,739 -_ 999 -- 13,465 14,454 (Continued) in Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance - Continued For the Year Ended September 30, 2005 Federal/State Agency, Pass -through Entity CFDA Federal Prouram/State Project Number Executive Office of the President: Direct Program: High Intensity Drug Trafficking Areas 07.13PMIP586 High Intensity Drug Trafficking Areas 07.13PPRP578 High Intensity Drug Trafficking Areas 07.13PMIP598 High Intensity Drug Trafficking Areas 07.13PMIP5980 High Intensity Drug Trafficking Areas 07.13PMIP999 High Intensity Drug Trafficking Areas 07.14PMIP586 High Intensity Drug Trafficking Areas 07.14PMIP598 High Intensity Drug Trafficking Areas 07.14PPRP578 High Intensity Drug Trafficking Areas 07.IOPMIP5109 High Intensity Drug Trafficking Areas 07.IOPMIP598 High Intensity Drug Trafficking Areas 07.IOPMIP5980 High Intensity Drug Trafficking Areas 07.11PMIP5109 High Intensity Drug Trafficking Areas 07.11 PPRP578 High Intensity Drug Trafficking Areas 07.11PMIP598 High Intensity Drug Trafficking Areas 07.11PMIP586 High Intensity Drug Trafficking Areas 07.12PMIP5109 High Intensity Drug Trafficking Areas 07.12PPRP578 High Intensity Drug Trafficking Areas 07.12PMIP598 High Intensity Drug Trafficking Areas 07.12PMIP5981 High Intensity Drug Trafficking Areas 07.12PMIP582 High Intensity Drug Trafficking Areas 07.12PMIP586 High Intensity Drug Trafficking Areas 07.12MOP5980 High Intensity Drug Trafficking Areas 07.15PMIP586 High Intensity Drug Trafficking Areas 07.15PMIP598 High Intensity Drug Trafficking Areas 07.15PPRP578 Total Federal Agency Department of Transportation: Direct Program: Federal Aviation Administration: Key West AIP-3715 20.106 Key West AIP-3718 20.106 Key West AIP-3721 20.106 Key West AIP-3722 20.106 The accompanying notes are an integral part of this schedule. WO Contract Grant Number Expenditures 13PM I P586 438,979 13PPRP578 245,939 13PM1 P598 441,279 13PM1 P5980 106,102 13PMIP999 87,433 14PMIP586 3,702,810 14PMIP598 1,337,114 14PPRP578 2,828,466 IOPMIP5109 17,004 IOPMIP598 9,301 IOPMIP5980 10,600 11 PMIP5109 -15,411 11 PPRP578 -70,493 11 PMIP598 56,461 11 PMIP586 620 12PMIP5109 24,978 12PPRP578 300,438 12PMIP598 610 12PMIP5981 785,637 12PMIP582 670 12PMIP586 15,375 12MOP5980 486,816 15PMIP586 5,520,611 15PM I P598 880,758 15PPRP578 2,427,058 19,639,155 3-12-0037-1501 129,844 3-12-0037-1802 27,965 3-12-0037-021-2003 267,587 3-12-0037-022-2003 617,597 (Continued) 1-10 Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance - Continued For the Year Ended September 30, 2005 Federal/State Agency, Pass -through Entity CFDA Federal Program/State Protect Number Department of Transportation Continued: Key West AIP-3723 20.106 Key West AIP-3724 20.106 Key West AIP-3725 20.106 Key West AIP-3726 20.106 Key West AIP-3727 20.106 Marathon AIP-4419 20.106 Marathon AIP-4420 20.106 Marathon AIP-4421 20.106 Total Program Transportation Safety Administration 20.108 Total Federal Agency Federal Emergency Management Agency: Passed through State Department of Community Affairs: EMA State and Local Assistance FY 05 83.552 Federal Highway Administration: Passed through State Department of Transportation Transportation Planning Assistance 20.205 Florida Keys Scenic Highway Interpretive/Master Plan 20.205 Total Federal Agency Department of Homeland Security: Passed through State Department of Community Affairs: Hurricane Dennis - FEMA-DR-1595-DR-FL 97.036 Hurricane Dennis - FEMA-DR-1595-FL 97.036 Hurricane Katrina - FEMA-DR-1602-FL 97.036 Hurricane Rita - FEMA-DR-3259-EM-FL 97.036 Total Program Local Mitigation 97.039 Homeland Secuity-EOC Security Improvements 97.004 Homeland Secuity-EOC Enhancements 97.004 Total Program Total Federal Agency The accompanying notes are an integral part of this schedule. Contract Grant Number Expenditures 3-12-0037-023-2004 1,336,299 3-12-0037-024-2004 830,028 3-12-0037-025-2004 2,230,552 3-12-0037-026-2004 705,888 3-12-0037-027-2005 2,328 3-12-0044-019-2004 86,355 3-12-0044-020-2004 370,927 3-12-0044-021-2005 10,530 6,615,900 2004-G-006 84,000 05-BG-04-11-54-01-027 FAP#8888-488 SBF3-003 06-D N-@G-11-54-00-632 06-D N-@G-11-54-01-550 06-KT-B&-11-54-01-516 06-RT-&W-11-54-01-529 5HS-L+-11-54-01-127/1345-17RR 2005-CJ-L2-07-54-01-165 05DS-2N-11-54-01-466 23,183 76,295 69,240 145,535 50,108 1,339,162 212,719 110,447 1,712,436 19,950 8,257 62,790 71,047 1,803,433 (Continued) 1-12 Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance - Continued For the Year Ended September 30, 2005 Federal/State Agency, Pass -through Entity CFDA Federal Program/State Project Number National Endowment for the Humanities: General Preservation Assessment 45.149 United States Treasury Department: Passed through Office of the Attorney General: Federal Asset Sharing Forfeiture Program 21.000 Total Expenditures of Federal Awards The accompanying notes are an integral part of this schedule. 1-13 Contract Grant Number Expenditures PA-50276-04 1,754 1,416,085 $ 31,495,615 (Continued) 1-14 Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance - Continued For the Year Ended September 30, 2005 CSFA State Anencv Name Number Florida Department of Community Affairs: Area of Critical State Concern 52.003 Bicycle & Pedestrian Plan 2003 52.004 Bicycle & Pedestrian Plan 2005 52.004 Total Program Emergency Management Base Grant - 2005 52.008 Total Department Florida Department of Children and Families: Community Care for Disabled Adults 2004 60.008 Community Care for Disabled Adults 2005 60.008 Total Department Florida Department of Elder Affairs: Passed through The Alliance for Aging: Home Care for the Elderly - 2004 65.001 Home Care for the Elderly - 2005 65.001 Total Program Alzheimer's Disease Initiative - 2004 65.004 Alzheimer's Disease Initiative - 2005 65.004 Total Program Community Care for Elderly 2004 65.010 Community Care for Elderly 2005 65.010 Total Program Total Department Florida Department of Environmental Protection: Small Counties Solid Waste -2005 37.012 Florida Department of Health and Rehabilitative Services: EMS Rural Matching Grant 64.003 EMS County Award 2003 64.005 EMS County Award 2004 64.005 Total Program Total Department " Information provided for state financial assistance but not required for federal awards. The accompanying notes are an integral part of this schedule. 1-15 Transfer To Contract Grant Number Expenditures Subrecipients* 00-DR-1 W-11-54-01-002 600,750 600,750 FM#25207711401 /AM 102 24,566 -- FM#25207711401/AN082 51,367 -- 75,933 -- 05-B G-04-11-54-01-217 102,959 -- 779,642 600,750 KG-051 63,594 -- KG-052 20,322 -- 83,916 -- KH-472 34,841 -- KH-572 11,656 -- 46,497 -- KZ497 47,416 -- KZ597 11,547 -- 58,963 -- KC471 372,608 -- KC571 66,081 -- 438,689 -- 544,149 -- SC524 191,176 -- R2013 83,608 -- C3044 66,799 -- C4044 49,054 -- 115,853 -- 199,461 -- (Continued) 1-16 Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance - Continued For the Year Ended September 30, 2005 CSFA State Anencv Name Number Florida Department of Juvenile Justice: Intensive Delinquency Diversion Service 80.022 Florida Department of Law Enforcement Intoxilizer -- Florida Department of State: State Aid to Libraries 45.030 Florida Department of Transportation: Florida Keys Scenic Highway Interpretive/Master Plan 55.003 Overseas Heritage Trail Design & Construction 55.008 Small County Outreach Program 55.009 Transportation Planning Assistance 55.022 Key West Airport 55.004 Key West Airport 55.004 Key West Airport 55.004 Key West Airport 55.004 Key West Airport 55.004 Key West Airport 55.004 Key West Airport 55.004 Key West Airport 55.004 Key West Airport 55.004 Key West Airport 55.004 Key West Airport 55.004 Key West & Marathon Airport 55.004 Marathon Airport 55.004 Total Program Total Department Florida Fish & Wildlife Conservation Commission: Boating Improvement Fund 77.006 Public Water Access and Marine Facilities Manaqgement Plan 77.006 Total Department * Information provided for state financial assistance but not required for federal awards. The accompanying notes are an integral part of this schedule. 1-17 Transfer To Contract Grant Number Expenditures Subrecipients* P6K01 05-ST-38 ANC96/41517811401 AL005/FM#410504-1-54-01 4108481 25222811403/AI893 41265919401/AL021 41286519401/AL288 41458418401 AN 103 41459819401 /ANB43 41646619401/AN111 41646819401 /AN 112 41253519401/ANJ94 41468319401 /ANL56 41646419401/ANL57 41646919401 /AN K50 41265819401 /AN U97 25426919402/AK043 41468419401 /ANJ96 04148 164,045 1,588 137,970 69,240 255,071 96,761 215,894 1,554 846,450 1,109,414 14,573 761 75,755 7,287 8,796 29,317 56,145 6,754 167,773 6,207 2,330,786 -- 2,967,752 -- 512,392 -- 12,210 -- 524,602 -- (Continued) 1-18 Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance - Continued For the Year Ended September 30, 2005 CSFA State Auency Name Number Florida Housing Finance Corp.: State Housing Initiative Program 52.901 State Housing Initiative Program 52.901 State Housing Initiative Program 52.901 Total Department Total Expenditures of State Financial Assistance * Information provided for state financial assistance but not required for federal awards. The accompanying notes are an integral part of this schedule. 1-19 Contract Grant Number SHIP 02-03 PLAN 4 YR 2 SHIP 03-04 PLAN 4 YR 3 SHIP 04-05 PLAN 5 YR 1 Expenditures 1,067,831 61,721 24,552 1,154,104 $ 6,748,405 Transfer To Subrecipients* $ 600,750 1-20 MONROE COUNTY, FLORIDA Notes to Schedule of Expenditures of Federal Awards and State Financial Assistance For the Year Ended September 30, 2005 Note 1 — Reporting Entity For reporting entity purposes, the Schedule of Federal Awards and State Financial Assistance include the activities of the Monroe County primary government and its blended component units. Note 2 — Summary of Significant Accounting Policies The accounting policies and presentation of the Schedule of Expenditures of Federal Awards and State Financial Assistance are in accordance with accounting principles generally accepted in the United States of America as applicable to governmental organizations. 1-2 1 MONROE COUNTY, FLORIDA Schedule of Findings and Questioned Costs — Federal Awards Programs and State Financial Assistance Projects For the year ended September 30, 2005 PART I - SUMMARY OF AUDITORS' RESULTS 1. The Independent Auditors' Report on the financial statements expresses unqualified opinions. 2. No reportable conditions relating to the audit of the financial statements are reported in the Independent Auditors' Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements in Accordance with Government Auditing Standards. 3. No instances of noncompliance material to the financial statements of Monroe County, Florida were disclosed during the audit. 4. No reportable conditions relating to the audit of major federal or state financial assistance projects are reported in the Independent Auditors' Report on Compliance and Internal Control over Compliance Applicable 'to Each Major Federal Awards Program and State Financial Assistance Projects. 5. The Independent Auditors' Report on Compliance for Each Major Federal Awards Program and State Financial Assistance Projects expresses an unqualified opinion. 6. No audit findings relative to major federal awards programs for Monroe County, Florida are reported in this Schedule. 7. No audit findings relative to major state financial assistance projects for Monroe County, Florida are reported in this Schedule. 8. The threshold for distinguishing Type A and Type B programs/projects was $944,868 for major federal awards programs and $300,000 for major state financial assistance projects. 9. The County qualified as a low -risk auditee for federal Single Audit purposes, as that term is defined in OMB Circular A-133. 10. The programs/projects tested as major programs/projects included the following: Federal Programs High intensity Drug Trafficking Areas Public Assistance Grants Federal CFDA No. 07.000 97.036 1-22 MONROE COUNTY, FLORIDA Schedule of Findings and Questioned Costs — Federal Awards Programs and State Financial Assistance Projects For the year ended September 30, 2005 PART I - SUMMARY OF AUDITORS' RESULTS (CONTINUED) State Projects Key West/Marathon Airports State Housing Initiative Program PART If - FINDINGS — FINANCIAL STATEMENTS State CSFA No. 55.004 52.901 This section identifies the reportable conditions, material weaknesses, and instances of noncompliance related to the financial statements that are required to be reported in accordance with Government Auditing Standards. None reported. PART III - FINDINGS AND QUESTIONED COSTS — MAJOR FEDERAL AWARDS PROGRAMS There are no findings or questioned costs reported. PART IV - FINDINGS AND QUESTIONED COSTS — MAJOR STATE FINANCIAL ASSISTANCE PROJECTS There are no findings or questioned costs reported. 1-23 MONROE COUNTY, FLORIDA Summary Schedule of Prior Audit Findings and Corrective Action Plan Federal Awards Programs and State Projects For the Year Ended September 30, 2005 Prior Year Audit Findings: There were no audit findings in the prior year independent auditors' reports that required corrective action. Corrective Action Plan: There were no audit findings in the current year independent auditors' reports that required corrective action. 1-24 Independent Auditors' Management Letter To the Honorable Mayor and Board of County Commissioners of Monroe County, Florida: We have audited the basic financial statements of Monroe County, Florida (the "County") as of and for the year ended September 30, 2005, and have issued our report thereon dated March 1, 2006. These financial statements are the responsibility of the County's management. Our responsibility is to express opinions on these financial statements based on our audit. We did not audit the financial statements of the Monroe County Housing Finance Authority, a discretely presented component unit of the County. Those financial statements were audited by other auditors whose report thereon has been furnished to us, and our opinion, insofar as it relates to the amounts included for the Monroe County Housing Finance Authority is based solely on the report of other auditors. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Govemment Auditing Standards, issued by the Comptroller General of the United States. We have issued our Independent Auditors' 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 Auditors' Report on Compliance and Internal Control over Compliance Applicable to each Major Federal Awards Program and State Financial Assistance Project. Disclosures in these reports, which are dated March 1, 2006, should be considered in conjunction with this management letter. Additionally, our audit was conducted in accordance with Chapter 10.550, Rules of the Auditor General. Those rules (Section 10.554(1)(h)1) require that we address in the management letter, if not already addressed in the auditors' reports on internal controls, compliance and other matters or schedule of findings and questioned costs, whether or not corrective actions have been taken to address significant findings and recommendations made in the preceding annual financial audit report. Reference to whether corrective actions have been taken is provided in separate management letters to each County agency. The Rules of the Auditor General (Section 10.554(1)(h)2) state that a management letter shall have a statement as to whether or not the County complied with Section 218.415, Florida Statutes, regarding the investment of public funds. In connection with our audit of the basic financial statements of the County, the results of our tests did not indicate that the County was in noncompliance with Section 218.415 regarding the investment of public funds. The Rules of the Auditor General (Section 10.554(1)(h)3) require disclosure in the management letter of any recommendations to improve the County's management, accounting procedures, and internal controls. Reference to recommendations is provided in separate management letters for each County agency. 1-25 The Rules of the Auditor General (Section 10.554(1)(h)4) require disclosure in the management letter of the following matters if not already addressed in the auditors' reports on compliance and internal controls or schedule of findings and questioned costs: (1) violations of laws, rules, regulations, and contractual provisions that have occurred, or are likely to have occurred; (2) improper or illegal expenditures; (3) improper or inadequate accounting procedures (e.g., the omission of required disclosures from the financial statements); (4) failures to properly record financial transactions; and (5) other inaccuracies, shortages, defalcations, and instances of fraud discovered by, or that come to the attention of, the auditor. There were no such matters noted. The Rules of the Auditor General (Section 10.554(1)(h)5) also require 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. Such disclosure is included in notes to the financial statements. As required by the Rules of the Auditor General (Section 10.554(1)(h)6.a.), the scope of our audit included a review of the provisions of Section 218.503(1), Florida Statutes, regarding financial emergencies. In connection with our audit of the financial statements of the County, the results of our tests did not indicate that the County met any of the specified conditions of a financial emergency contained in Section 218.503(1). However, our audit does not provide a legal determination on the County's compliance with this requirement. The Rules of the Auditor General (Section 10.554(1)(h)6.b.) state that a management letter shall include a statement as to whether or not the financial report filed with the Florida Department of Financial Services, pursuant to Section 218.32, Florida Statutes, is in agreement with the annual financial audit report for the current audit period and, if not, explanations of any significant differences. It should be noted that the County's basic financial statements contain a discretely presented component unit, defined as part of the reporting entity under accounting principles generally accepted in the United States of America, for which the County has not been deemed the local governing authority for purpose of the annual report. in connection with our audit of the County, the results of our tests indicate that the annual financial report for the year ended September 30, 2005, filed with the Department of Financial Services, is in agreement with the annual financial audit report for the current audit period. As required by the Rules of the Auditor General (Sections 10.554(1)(h)6.c. and 10.556), the scope of our audit included financial condition assessment procedures as of September 30, 2005. It is management's responsibility to monitor the County's financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same. The financial condition assessment procedures described above disclosed no deteriorating financial conditions. This report is intended solely for the information and use of management, the County Mayor and Board of County Commissioners of Monroe County, Florida, and applicable state and federal agencies, and is not intended to be and should not be used by anyone other than these specified parties. LOOP. West Palm Beach, Florida March 1, 2006 1-26 THIS PAGE INTENTIONALLY LEFT BLANK