Fiscal Year 2015MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
FINANCIAL STATEMENTS
As of and for the Year Ended September 30, 2015
And Report of Independent Auditor
`0 Cherry Bekaert'
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Financial Statements
For The Fiscal Year Ended September 30, 2015
TABLE OF CONTENTS
PAGE
Table of Contents A-1 - A-3
Basic Financial Statements
Report of Independent Auditor B-1 - B-2
Fund Financial Statements:
Balance Sheet - Governmental Funds
C-1
- C-2
Statement of Revenues, Expenditures and Changes in Fund Balances -
Governmental Funds
C-3 -
C-4
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Major Governmental Funds:
General Fund
C-5
- C-9
Fine and Forfeiture Fund
C-10
- C-11
Governmental Grants Fund
C-12
- C-14
Statement of Net Position - Proprietary Funds
C-15
- C-18
Statement of Revenues, Expenses and Changes in Net Position - Proprietary Funds
C-19
- C-20
Statement of Cash Flows - Proprietary Funds
C-21
- C-24
Statement of Fiduciary Net Position - Fiduciary Funds
C-25
Statement of Changes in Fiduciary Net Position - Fiduciary Funds
C-26
Notes to the Statements D-1 - D-53
Required Supplementary Information:
Florida Retirement System
Schedule of the Board Proportionate Share of Net Pension Liability -
Florida Retirement System
E-1
Schedule of the Board Contributions - Florida Retirement System
E-2
Schedule of the Board Proportionate Share of Net Pension Liability -
Health Insurance Subsidy Program
E-3
Schedule of the Board Contributions
Health Insurance Subsidy Program
E-4
Pension Plan for Volunteer Firefighters and Emergency Medical Services
Schedule of Changes in the Board Net Pension Liability and Related Ratios
E-5
Schedule of Employer Contributions
E-6 - E-7
Combining and Individual Fund Statements and Schedules:
Schedules of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
One Cent Infrastructure Surtax Capital Project Fund F-1
Big Coppitt Wastewater Capital Projects Fund F-2
Cudjoe Regional Wastewater Capital Projects Fund F-3
All Debt Service Funds F-4 - F-5
(Continued)
A-1
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Financial Statements
For The Fiscal Year Ended September 30, 2015
TABLE OF CONTENTS - Continued
Combining and Individual Fund Statements and Schedules (Continued):
Combining Balance Sheet - NonMajor Governmental Funds
Combining Statement of Revenues, Expenditures and Changes in Fund Balances -
NonMajor Governmental Funds
Schedules of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Special Revenue Funds:
Affordable Housing Programs
Tourist Development, All Districts, Two Cent
Tourist Development, Administration and Promotional, Two Cent
Tourist Development, District #One
Tourist Development, District #Two
Tourist Development, District #Three
Tourist Development, District #Four
Tourist Development, District #Five
Impact Fees - Roadways
Impact Fees - Parks and Recreation
Impact Fees - Libraries
Impact Fees - Solid Waste
Impact Fees - Police Facilities
Impact Fees - Fire and EMS
Impact Fees - Employee Fair Share Housing
Fire and Ambulance, District #1 - Lower and Middle Keys
Upper Keys Health Care Special Taxing District
Unincorporated Area Service District - Parks and Recreation
Unincorporated Area Service District - Planning, Building & Zoning
Municipal Policing
911 Enhancement Fees
Duck Key Security District
Local Housing Assistance
Boating Improvement
Miscellaneous Special Revenue
Environmental Restoration
Law Enforcement Trust
PAGE
G-1 - G-10
G-11 - G-20
G-21
G-22
G-23
G-24
G-25
G-26
G-27
G-28
G-29
G-30
G-31
G-32
G-33
G-34
G-35
G-36
G-37
G-38
G-39 - G-40
G-41
G-42
G-43
G-44
G-45
G-46 - G-47
G-48
G-49
(Continued)
A-2
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Financial Statements
For The Fiscal Year Ended September 30, 2015
TABLE OF CONTENTS - Continued
Combining and Individual Fund Statements and Schedules (Continued): PAGE
Court Facility Fees
G-50
Drug Abuse Trust
G-51
Marathon Municipal Service Taxing Unit
G-52
Bay Point Municipal Service Taxing Unit
G-53
Big Coppitt Municipal Service Taxing Unit
G-54
Key Largo Municipal Service Taxing Unit
G-55
Stock Island Wastewater
G-56
Cudjoe-Sugarloaf Municipal Service Taxing Unit
G-57
Conch Key Municipal Service Taxing Unit
G-58
Long Key -Layton Municipal Service Taxing Unit
G-59
Duck Key Municipal Service Taxing Unit
G-60
Building Fund
G-61
Road and Bridge Fund
G-62
Combining Statement of Net Position - Internal Service Funds H-1 - H-2
Combining Statement of Revenues, Expenses and Changes in Net Position -
Internal Service Funds H-3 - H-4
Combining Statement of Cash Flows - Internal Service Funds H-5 - H-8
COMPONENT UNIT
Comprehensive Plan Land Authority - Statement of Net Position 1-1
Comprehensive Plan Land Authority - Statement of Activities 1-2
OTHER REPORTS
Report of Independent Auditor on Internal Control over Financial Reporting and on
Compliance and other matters Based on an Audit of Financial Statements Performed
in Accordance with Government Auditing Standards J-1 - J-4
Independent Auditors' Management Letter J-5 - J-8
Report of Independent Accountant on Compliance with Local Government Investment J-9
Policies
A-3
on
` % Cherry Bekaert`
so CFAs & Advisors
Report of Independent Auditor
To the Clerk Ex Officio, Mayor and
Board of County Commissioners of
Monroe County, Florida:
Report on the Financial Statements
We have audited the accompanying financial statements of each major fund, the discretely presented
component unit, and the aggregate remaining fund information of the Monroe County, Florida Board of County
Commissioners (the "Board") as of and for the year ended September 30, 2015, and the related notes to the
financial statements, which collectively comprise the Board's basic financial statements as listed in the table of
contents.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance
with accounting principles generally accepted in the United States of America; this includes the design,
implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial
statements that are free from material misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. 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. 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 involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial statements. The procedures selected depend on the auditor's judgment, including the assessment of
the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the Board's preparation and fair presentation of
the financial statements in order to design audit procedures that are appropriate in the circumstances, but not
for the purpose of expressing an opinion on the effectiveness of the Board's internal control. Accordingly, we
express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and
the reasonableness of significant accounting estimates made by management, as well as evaluating the overall
presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinions.
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective
financial position of each major fund, the discretely presented component unit, and the aggregate remaining
fund information of the Board as of September 30, 2015, and the respective changes in financial position and,
where applicable, cash flows thereof, and the respective budgetary comparison for the General Fund, Fine and
Forfeiture Fund and Governmental Grants Fund for the year then ended in conformity with accounting principles
generally accepted in the United States of America.
B-1
Emphasis of Matter
Change in Accounting Principle
As discussed in Note 23 to the basic financial statements, effective October 1, 2014, the Board adopted
Governmental Accounting Standards ("GASB") Board Statement No. 68, Accounting and Financial Reporting for
Pensions — an Amendment of GASB Statement No. 27, and Statement No. 71, Pension Transition for
Contributions Made Subsequent to the Measurement Date — an amendment of GASB Statement 68. Our opinions
are not modified with respect to this matter.
Other Information
As described in Note 1, the financial statements referred to are not intended to be a complete presentation of the
financial position, changes in financial position and cash flows, where applicable, of the Board. Additionally, the
financial statements present only the Board and are not intended to present the financial position and the changes
in financial position and cash flows, where applicable, of Monroe County, Florida, taken as a whole.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the Required
Supplementary Information as listed in the table of contents be presented to supplement the financial statements.
Such information, although not a part of the financial statements, is required by the Governmental Accounting
Standards Board, who considers it to be an essential part of financial reporting for placing the financial statements
in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the
required supplementary information in accordance with auditing standards generally accepted in the United
States of America, which consisted of inquiries of management about the methods of preparing the information
and comparing the information for consistency with management's responses to our inquiries, the financial
statements, and other knowledge we obtained during our audit of the financial statements. We do not express an
opinion or provide any assurance on the information because the limited procedures do not provide us with
sufficient evidence to express an opinion or provide any assurance.
Supplementary and Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements of the Board taken as a
whole. The combining and individual fund statements and schedules, as listed in the table of contents, are
presented for purposes of additional analysis and are not a required part of the financial statements.
The accompanying information is the responsibility of management and was derived from and relate directly to
the underlying accounting and other records used to prepare the financial statements. Such information has been
subjected to the auditing procedures applied in the audit of the financial statements and certain additional
procedures, including comparing and reconciling such information directly to the underlying accounting and other
records used to prepare the financial statements or to the financial statements themselves, and other additional
procedures in accordance with accounting standards generally accepted in the United States of America. In our
opinion, this information is fairly stated, in all material respects, in relation to the financial statements as a whole.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated May 24, 2016 on our
consideration of the Board'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 in considering
the Board's internal control over financial reporting and compliance.
Orlando, Florida
May 24, 2016
B-2
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
BALANCE SHEET
GOVERNMENTALFUNDS
SEPTEMBER 30, 2015
Assets
Cash and Cash Equivalents
Investments
Accounts Receivable, Net
Assessments Receivable
Due from Other Funds
Due from Other Governmental Units
Due from Constitutional Officers
Mortgages/Notes Receivable
Allowance for Mortgages/Notes Receivable
Advances to Other Governments
Interest Receivable
Inventory
Total Assets
Liabilities, Deferred Inflows of
Resources and Fund Balances
Liabilities:
Accounts Payable
Retainage Payable
Accrued Wages and Benefits Payable
Due to Other funds
Due to Other Governmental Units
Due to Constitutional Officers
Unearned Revenues
Other Current Liabilities
Deposits in Escrow
Total Liabilities
Deferred Inflows of Resources:
Advances from Other Governments
Unavailable Revenues
Total Deferred Inflows of Resources
Fund Balances:
Nonspendable
Restricted
Committed
Assigned
Unassigned
Total Fund Balances
Total Liabilities, Deferred Inflows of
Resources and Fund Balances
Fine & Governmental
General Forfeiture Grants
$ 9,402,561
$ 3,102,206 $
1,188, 476
18,026,534
8,642,513
-
102,399
334,695
11
4,981,502
2,826,966
-
554,694
180,866
3,671,117
5,365,681
1,577,497
-
-
-
474,478
-
-
(474,478)
40,806
68,203
3,383
3,870
-
-
$ 38,478,047
$ 16,732,946 $
4,862,987
$ 1,114, 056 $
118,595 $
581,482
-
-
442,318
701,647
91,992
49,878
4,737
2,135,915
114,570
536,182
-
85,159
99,145
15,297
-
7,014
-
-
5,669
-
-
5,410
-
-
2,473,860
2,361,799
1,273,407
- - 135,973
- 28,560 2,918,134
- 28,560 3,054,107
3,870 - -
- 14,342,587 535,473
10, 000, 000 - -
12,293,875 - -
13, 706, 442 - -
36,004,187 14,342,587 535,473
$ 38,478,047 $ 16,732,946 $ 4,862,987
The notes to the financial statements are an integral part of these statements.
C-1
One Cent Big Coppitt Cudjoe Regional Nonmajor Total
Infrastructure Wastewater Wastewater All Governmental Governmental
Surtax Project Project Debt Service Funds Funds
$ 9,648,012 $
860,503
$ 12,024,544 $
1,372,230
$ 36,006,694
$ 73,605,226
16,806,062
1,687,561
2,826,971
1,310,687
57,667,526
106,967,854
-
-
-
-
62,212
499,317
-
2,959,369
-
-
929,370
3,888,739
-
-
-
-
76,813
7,885,281
1,668,281
-
16,930,373
-
887,527
23,892,858
-
995
2,487
-
5,369,879
12,316,539
-
-
-
-
8,482,749
8,957,227
-
-
-
-
(8,482,749)
(8,957,227)
-
-
1,329,630
-
150,659
1,480,289
21,432
3,681
5,495
2,818
94,728
240,546
-
-
-
-
-
3,870
$ 28,143, 787 $
5,512,109
$ 33,119, 500 $
2,685, 735
$ 101,245,408
$ 230, 780, 519
$ 919,024 $
4,495 $ 9,749 $
- $ 2,384,185
$ 5,131, 586
215,971
- -
- 408,642
1,066,931
39,954
362 4,445
- 1,048,498
1,936,776
-
- 2,860,425
- 1,563,318
6,678,965
-
- -
- 367,232
988,573
-
- -
- 282,216
396,658
-
- 12,099,658
- -
12,106,672
-
- -
- -
5,669
-
- -
- 77,922
83,332
1,174, 949
4,857 14, 974, 277
- 6,132, 013
28, 395,162
- - - - 30,271 166,244
- 2,898,187 - - 923,763 6,768,644
- 2,898,187 - - 954,034 6,934,888
- - - - - 3,870
26,968,838 2,609,065 18,145,223 2,685,735 85,300,438 150,587,359
- - - - 2,579,388 12,579,388
- - - - 6,282,834 18,576,709
- - - - (3,299) 13,703,143
26,968,838 2,609,065 18,145,223 2,685,735 94,159,361 195,450,469
$ 28,143,787 $ 5,512,109 $ 33,119,500 $ 2,685,735 $ 101,245,408 $ 230,780,519
C-2
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Fine &
Governmental
General
Forfeiture
Grants
Revenues:
Taxes
$ 23,066,692
$ 41,025,389
$ -
Licenses and Permits
-
-
-
Intergovernmental
8,739,756
75,949
4,786,792
Charges for Services
668,123
4,398,517
-
Fines and Forfeitures
9,913
99,105
-
Investment Income
240,972
473,870
5,713
Miscellaneous
734,280
1,211
21,165
Total Revenues
33,459,736
46,074,041
4,813,670
Expenditures:
Current:
General Government
26,566,255
515,771
-
Public Safety
1,314,346
46,313,744
439,234
Physical Environment
331,883
-
633,007
Transportation
92,174
-
5,553,132
Economic Environment
601,621
-
355,710
Human Services
6,779,228
-
1,555,220
Culture and Recreation
3,030,864
-
113,338
Court Related
3,229,783
1,789,751
-
Capital Projects
-
-
-
Debt Service:
Principal -Refunded Bonds
-
-
-
Principal
-
-
-
Interest
-
-
-
Total Expenditures
41,946,154
48,619,266
8,649,641
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Transfers from Other Funds
Transfers to Other Funds
Refunding Bonds Issued
Issuance of Debt
Transfers from Constitutional Officers
Total Other Financing Sources/(Uses)
Net Change in Fund Balances
Fund Balances -October 1
Fund Balances -September 30
(8,486,418) (2,545,225) (3,835,971
4,968,379 - 1,509,594
(247,783) (15,746) -
4,242,644 1,554,151 -
8,963,240 1,538,405 1,509,594
476,822 (1,006,820) (2,326,377)
35,527,365 15,349,407 2,861,850
$ 36,004,187 $ 14,342,587 $ 535,473
The notes to the financial statements are an integral part of these statements.
C-3
One Cent
Infrastructure
Surtax
Big Coppitt
Wastewater
Project
Cudjoe Regional
Wastewater All
Project Debt Service
Nonmajor
Governmental
Funds
Total
Governmental
Funds
$ 20,161,451
$ 362
$ 330 $ -
$ 53,398,267
$ 137,652,491
-
253,419
- -
4,728,452
4,981,871
-
-
15,566,220 -
9,467,274
38,635,991
-
-
- -
8,641,739
13,708,379
-
-
- -
1,279,897
1,388,915
71,755
105,781
642,903 6,579
264,103
1,811,676
3,702,441
39,346
72,166 -
543,096
5,113,705
23,935,647
398,908
16,281,619 6,579
78,322,828
203,293,028
- - - - 3,387,778
30,469,804
- - - - 24,074,355
72,141,679
- - - - 1,774,333
2,739,223
- - - - 5,093,450
10,738,756
- - - - 30,370,522
31,327,853
- - - - 453,333
8,787,781
- - - - 1,580,178
4,724,380
- - - - 348,379
5,367,913
9,339,129 34,540 54,474,414 - 582,764
64,430,847
- - - 7,060,000 - 7,060,000
- - - 4,032,352 - 4,032,352
- - - 1,062,792 - 1,062,792
9,339,129 34,540 54,474,414 12,155,144 67,665,092 242,883,380
14,596,518 364,368 (38,192,795) (12,148,565) 10,657,736 (39,590,352)
-
-
16,000,000
5,510,919
2,000
27,990,892
(5,107,409)
(681,938)
-
-
(20,564,180)
(26,617,056)
-
-
-
7,120,000
-
7,120,000
-
-
32,523,263
-
25,765,000
58,288,263
-
995
2,487
-
1,191,464
6,991,741
(5,107,409)
(680,943)
48,525,750
12,630,919
6,394,284
73,773,840
9,489,109
(316,575)
10,332,955
482,354
17,052,020
34,183,488
17,479,729
2,925,640
7,812,268
2,203,381
77,107,341
161,266,981
$ 26,968,838 $
2,609,065 $
18,145,223 $
2,685,735
$ 94,159,361 $
195,450,469
C-4
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
GENERALFUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Taxes
Intergovernmental
Charges for Services
Fines and Forfeitures
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
General Government:
Board of County Commissioners Admin
Clerk to BOCC-Financial Package
Gov't Enterprise Management System
Clerk Comm & Fees-TDC
Clerk Comm & Fees-Noncourt
Insurances -Supervisor of Elections
Promotional Advertising
Value Adjustment Board
Tax Increment Payment
Employee Suggestion Plan
Lobbyist
County Administrator
Technical Services
Technology
Grants Administration
Office of Management & Budget
Purchasing
Personnel
Public Works Management
Public Works Facilities Maintenance
ADA Compliance
County Attorney
Tax Collector
Property Appraiser
Supervisor of Elections
Quasi External Services
Total General Government
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 23,567,492 $ 23,567,492 $ 23,066,692 $ (500,800)
7,192,138
7,192,138
8,739,756
1,547,618
760,050
786,120
668,123
(117,997)
11,250
11,250
9,913
(1,337)
83,650
83,650
240,972
157,322
515,700
563,434
734,280
170,846
32,130,280
32,204,084
33,459,736
1,255,652
1,709,398
1,699,289
1,534,025
165,264
5,000
5,000
-
5,000
100,000
100,000
29,827
70,173
159,495
159,495
159,495
-
2,721,874
2,721,874
2,650,296
71,578
135,489
129,165
107,174
21,991
5,000
5,000
2,218
2,782
35,000
35,001
31,503
3,498
300,000
250,000
244,646
5,354
10,000
10,000
-
10,000
100,000
103,700
103,605
95
974,683
1,014,682
1,006,661
8,021
1,781,379
1,768,590
1,634,266
134,324
325,230
325,230
237,908
87,322
116,705
116,706
113,633
3,073
550,751
548,245
448,275
99,970
202,264
202,264
154,814
47,450
443,983
459,803
387,376
72,427
94,384
93,429
83,221
10,208
6,562,739
6,350,295
5,787,934
562,361
10,000
10,000
3,802
6,198
1,679,462
1,670,821
1,375,715
295,106
4,422,768
4,615,852
4,601,589
14,263
4,092,380
4,392,380
4,218,802
173,578
1,475,714
1,475,714
1,475,714
-
125,000
174,000
173,756
244
28,138,698
28,436,535
26,566,255
1,870,280
(Continued)
The notes to the financial statements are an integral part of these statements.
C-5
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
GENERALFUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL - CONTINUED
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Public Safety:
Emergency Management
242,199
239,404
207,739
31,665
Marathon Emer Operations Center
79,049
79,049
24,392
54,657
Medical Examiner
648,212
655,778
643,520
12,258
Fire Academy
463,017
463,017
438,695
24,322
Total Public Safety
1,432,477
1,437,248
1,314,346
122,902
Physical Environment:
Extension Service 225,012 223,403 216,920 6,483
Sustainability 470,634 470,634 114,963 355,671
Total Physical Environment 695,646 694,037 331,883 362,154
Transportation:
County Engineer 294,295 292,022 92,174 199,848
Total Transportation 294,295 292,022 92,174 199,848
Economic Environment:
Literacy Volunteers of America
18,000
18,000
18,000 -
Veteran's Affairs
468,165
465,785
458,525 7,260
Veteran's Affairs Transportation
133,956
133,956
125,096 8,860
Total Economic Environment
620,121
617,741
601,621 16,120
Human Services:
Middle Keys Guidance Clinic
41,434
41,434
36,562
4,872
Older Americans Volunteer Program
500
500
-
500
Domestic Abuse Shelter
30,000
30,000
30,000
-
Hospice of the Florida Keys
141,000
141,000
141,000
-
Florida Keys Outreach Coalition
70,000
70,000
70,000
-
Samuel's House
95,000
95,000
95,000
-
Womankind
95,000
95,000
95,000
-
Grace Jones
40,000
40,000
40,000
-
AIDS Help
35,000
35,000
35,000
-
Good Health Clinic
60,000
60,000
60,000
-
Monroe Cty Assn for Retarded Citizens
160,000
160,000
160,000
-
Florida Keys Children's Shelter
153,000
153,000
153,000
-
Wesley House
157,000
157,000
155,195
1,805
Florida Keys Area
45,000
45,000
45,000
-
Rural Health Network
300,000
300,000
300,000
-
SHAL
5,000
5,000
3,810
1,190
The Heron
35,000
35,000
35,000
-
(Continued)
The notes to the financial statements are an integral part of these statements.
C-6
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
GENERALFUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL - CONTINUED
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
Kids Come First - FL Keys
24,000
24,000
24,000
-
First Baptist Church
2,600
2,600
-
2,600
FL Keys Healthy Start Coalition
30,000
30,000
30,000
-
Keys Area Interdenominational Resources
25,000
25,000
25,000
-
Star of the Sea Foundation
65,000
65,000
65,000
-
Independence Cay
25,000
25,000
25,000
-
Anchors Aweigh
8,000
8,000
8,000
-
Baker Act LKMC FS 394.463
83,334
83,334
83,333
1
GCC Baker Act Transp
145,000
145,000
124,041
20,959
GCC SamH FS 394.76
657,066
657,066
657,066
-
GCC Jail Inhouse Program
116,617
116,617
102,428
14,189
Historic FI Keys Foundation
29,500
29,500
29,500
-
Animal Shelters
1,150,876
1,150,876
1,062,087
88,789
Welfare Administration
547,998
544,029
516,378
27,651
Welfare Services
888,440
999,294
955,999
43,295
Health Care Respite Act
31,585
6,585
1,287
5,298
Bayshore Manor
876,845
859,222
741,363
117,859
Social Service Transportation
935,617
919,060
874,179
44,881
Total Human Services
7,105,412
7,153,117
6,779,228
373,889
Culture and Recreation:
Fine Arts Council
63,000
63,000
63,000
-
Lower Keys AARP
4,500
4,500
3,114
1,386
Middle Keys AARP
4,500
4,500
3,091
1,409
Big Pine Key AARP
4,500
4,500
4,475
25
Upper Keys AARP
4,500
4,500
3
4,497
Boys and Girls Club
99,000
99,000
99,000
-
Heart of the Keys Recreation
35,000
35,000
35,000
-
Higgs Beach Maintenance
95,550
94,839
92,384
2,455
Library Admin Support
746,373
741,638
713,053
28,585
Library Key West
765,687
749,321
660,961
88,360
Library Key West Donations
1,000
133,694
43,514
90,180
Library Marathon
347,739
338,893
315,197
23,696
Library Marathon Donations
500
11,920
3,232
8,688
Library Islamorada
312,718
305,702
257,531
48,171
Library Islamorada Donations
250
1,514
-
1,514
Library Key Largo
430,921
420,377
401,204
19,173
Library Key Largo Donations
500
2,705
968
1,737
Library Big Pine Key
363,877
359,337
333,545
25,792
Library Big Pine Key Donations
500
12,032
1,592
10,440
Total Culture and Recreation
3,280,615
3,386,972
3,030,864
356,108
(Continued)
The notes to the financial statements are an integral part of these statements.
C-7
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
GENERALFUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL - CONTINUED
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Court Related:
Law Library
Guardian Ad Litem
Clerk of the Court - General Mgt
Clerk of the Court - Jury Management
Clerk Records Management
Clerk of the Circuit Court - Criminal
Clerk of the Circuit Court - Civil
Clerk of the Circuit Court - Family
Clerk of the Circuit Court - Juvenile
Clerk of the Circuit Court - Probate
Clerk County Court - Criminal
Clerk County Court - Civil
Clerk County Court - Traffic
State Attorney
Public Defender
Court Administration
Court Admin-Judicial Support
Ct. Admin-Other Circuit Court Juvenile
Court Admin-Family Ct Case Mgmt
Court Admin-Circuit Ct Reporter Svcs
Court Admin-Circuit Drug Court
Court Admin-Pretrial Release
Ct. Admin-Pretrial Svcs Drug Diversion
Court Admin-Information Systems
Total Court Related
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
69,630
69,630
63,758
5,872
197,007
197,007
135,189
61,818
13,671
13,671
15,141
(1,470)
12,667
12,667
14,250
(1,583)
41,905
41,905
46,356
(4,451)
118,430
118,430
133,088
(14,658)
86,863
86,863
97,909
(11,046)
22,236
22,236
25,056
(2,820)
14,438
14,438
16,071
(1,633)
16,361
16,361
18,451
(2,090)
101,182
101,182
113,861
(12,679)
38,696
38,696
43,458
(4,762)
112,114
112,114
126,500
(14,386)
336,450
334,995
239,345
95,650
616,681
614,100
566,420
47,680
3,538
3,519
2,874
645
136,889
134,980
141,640
(6,660)
47,488
47,281
35,126
12,155
157,130
156,445
155,182
1,263
1,675
1,675
1,074
601
392,510
390,787
394,587
(3,800)
530,389
528,282
491,837
36,445
159,990
159,990
154,615
5,375
213,201
212,421
197,995
14,426
3,441,141
3,429,675
3,229,783
199,892
(Continued)
The notes to the financial statements are an integral part of these statements.
C-8
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
GENERALFUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL - CONTINUED
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Reserve for Contingencies
Reserve for Cash Balance
Transfers from Other Funds
Transfers to Other Funds
Transfers from Constitutional Officers
Total Other Financing Sources/(Uses)
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
45,008,405 45,447,347 41,946,154 3,501,193
(12,878,125) (13,243,263) (8,486,418) 4,756,845
(515,303)
(148,171)
-
148,171
(8,580,441)
(8,580,435)
-
8,580,435
4,868,881
4,868,881
4,968,379
99,498
(250,533)
(252,533)
(247,783)
4,750
3,950,000
3,950,000
4,242,644
292,644
(527,396)
(162,258)
8,963,240
9,125,498
(13,405,521) (13,405,521) 476,822 13,882,343
13,405,521 13,405,521 35,527,365 22,121,844
$ 36,004,187 $ 36,004,187
The notes to the financial statements are an integral part of these statements.
C-9
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
FINE AND FORFEITURE SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Taxes
$ 43,051,586
$ 43,051,586
$ 41,025,389
$ (2,026,197)
Intergovernmental
-
-
75,949
75,949
Charges for Services
3,950,000
3,950,000
4,398,517
448,517
Fines and Forfeitures
80,750
80,750
99,105
18,355
Investment Income
59,000
59,000
473,870
414,870
Miscellaneous
3,150
3,150
1,211
(1,939)
Total Revenues
47,144,486
47,144,486
46,074,041
(1,070,445)
EXPENDITURES:
Current:
General Government:
Tax Increment Payment 550,000 550,000 515,771 34,229
Total General Government 550,000 550,000 515,771 34,229
Public Safety:
Sheriff Law Enforcement
20,469,567
20,469,567
20,186,600
282,967
Sheriff Corrections
21,548,789
21,548,789
21,004,588
544,201
Bond Refunds
25,000
25,000
284
24,716
LEEA Funds
75,000
75,000
75,000
-
Correction Facilities
1,941,563
1,941,563
1,729,494
212,069
Medical Air Transport
2,817,348
2,817,348
2,769,303
48,045
Interagency Communications
394,165
394,165
371,684
22,481
Juvenile Detention Cost Share
269,039
269,039
176,791
92,248
Total Public Safety
47,540,471
47,540,471
46,313,744
1,226,727
Court Related:
Sheriff Extradition
50,000
50,000
25,874
24,126
Sheriff Court Security
1,806,605
1,806,605
1,763,877
42,728
Total Court Related
1,856,605
1,856,605
1,789,751
66,854
Total Expenditures
49,947,076
49,947,076
48,619,266
1,327,810
Excess/Deficiency of Revenues
Over/(Under) Expenditures (2,802,590) (2,802,590) (2,545,225) 257,365
(Continued)
The notes to the financial statements are an integral part of these statements.
C-10
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2015
Other Financing Sources/(Uses):
Reserve for Contingencies
Reserve for Cash Balance
Transfers to Other Funds
Transfers from Constitutional Officers
Total Other Financing Sources/(Uses)
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
(610,840)
(610,840)
-
610,840
(6,259,807)
(6,259,807)
-
6,259,807
(16,667)
(16,667)
(15,746)
921
1,475,000
1,475,000
1,554,151
79,151
(5,412,314)
(5,412,314)
1,538,405
6,950,719
(8,214,904) (8,214,904) (1,006,820) 7,208,084
8,214,904 8,214,904 15,349,407 7,134,503
$ 14,342,587 $ 14,342,587
The notes to the financial statements are an integral part of these statements.
C-11
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
GOVERNMENTAL GRANTS SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
Revenues:
Intergovernmental
$ 100,000
$ 37,441,758
$ 4,786,792
$ (32,654,966)
Investment Income
-
-
5,713
5,713
Miscellaneous
-
5,020
21,165
16,145
Total Revenues
100,000
37,446,778
4,813,670
(32,633,108)
Expenditures:
Current:
Public Safety:
Emergency Management Base Grant
- 211,612
100,141
111,471
Federal Emergency Base Grant
- 47,748
29,266
18,482
Federal Emergency Base Grant
- 66,477
44,266
22,211
Radiological Emerg Preparedness
- 149,746
136,599
13,147
EMS Award Grant
- 37,268
25,848
11,420
MCSO/Emg Mgmt UASI 13 Grant
- 40,000
40,000
-
DOJ DC Medical Director Initiative
- 17,921
16,900
1,021
FKOC Sa Ed & Relap Prev
- 8,845
8,845
-
Go Solar Pgm ILA
- 150,000
-
150,000
SHSGP 14DS-L5-11-54-01
- 18,815
18,619
196
SHSGP 14DS-P5-11-54-01
- 40,000
18,750
21,250
UASI 14 Grant
- 96,925
-
96,925
Total Public Safety
- 885,357
439,234
446,123
Physical Environment:
Canal Demonstration
- 100,000
99,980
20
MC Canal Mstr Pln Edu Pgm
- 175,000
155,456
19,544
Exotic Plt Rmvl FK-121
- 135,000
134,610
390
Land Exotic Rmvl FK-126
- 85,000
84,991
9
FWC Rmvl Derelict Vessel
- 158,800
118,000
40,800
FWC Buoy Rplcmt Whate Har
- 51,250
39,970
11,280
Total Physical Environment
- 705,050
633,007
72,043
Transportation:
Old SR940 Leg A Bridge Repair
- 46,034
-
46,034
No Name Key Brdg #904320
- 6,355,229
2,834,498
3,520,731
Card Sound Bridge Repair
- 5,429,053
15,700
5,413,353
Transp Planning Prog 2012
- 502,912
236,380
266,532
Pigeon Key Ferry Service
- 404,212
231,249
172,963
US 1 Bayside Shared Use
- 2,066,342
2,066,342
-
Scenic Highway Overlooks
- 1,229,527
102,974
1,126,553
Ped Brg Ovr M Adams Wtrwy
- 475,000
-
475,000
Garrison Bight Bridge
- 260,000
-
260,000
Pgn Key Ferry Ramp Repair
100,000 186,448
65,989
120,459
Total Transportation
100,000 16,954,757
5,553,132
11,401,625
(Continued)
The notes to the financial statements are an integral part of these statements.
C-12
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
GOVERNMENTAL GRANTS SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL - CONTINUED
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Variance with
Final Budget
Original Final
Positive
Budget Budget
Actual
(Negative)
Economic Environment:
Disaster Recovery CDBG
- 153,536
-
153,536
Small Cities CDBG 2010
- 549,812
135,056
414,756
CBDG DR 2008 DREF
- 221,766
220,654
1,112
Total Economic Environment
- 925,114
355,710
569,404
Human Services:
Residential Substance Abuse Treatment
- 66,667
62,986
3,681
GCC Male Jail inhouse Program
- 37,331
32,956
4,375
Title IIIC1 Congregate Meals -2014
- 40,764
39,177
1,587
Title IIIC2 Home Delivered Meals-2014
- 72,467
49,225
23,242
Title III-E Caregiver Support Svc-2014
- 11,417
5,397
6,020
Low Income Home Energy Prog
- 65,562
62,432
3,130
Alzheimer's Disease Initiative 13/14
- 189,327
51,536
137,791
Alzheimer's Disease Initiative 14/15
- 161,881
39,240
122,641
Community Care Disabled Adults
- 53,341
17,439
35,902
Community Care Disabled Adults
- 339,906
81,974
257,932
Community Care for the Elderly 13/14
- 335,641
247,726
87,915
Community Care for the Elderly 14/15
- 456,667
105,027
351,640
Home Care for the Elderly 13/14
- 12,273
8,801
3,472
Home Care for the Elderly 14/15
- 11,802
2,003
9,799
ESG KPZ06 13/14
- 3,000
-
3,000
ESG KPZ06 14/15
- 113,536
78,951
34,585
SHIP to WAP
- 30,681
19,744
10,937
Weather Asst Prgm 02
- 17,957
17,620
337
Title IIIB Supportive Services - 2015
- 16,856
9,511
7,345
Title IIIC1 Congregate Meals - 2015
- 167,720
137,715
30,005
Title IIIC2 Home Delivered Meals-2015
- 248,534
183,121
65,413
Title III-E Caregiver Support Svc-2015
- 64,246
49,622
14,624
Sh Crt Mand Crm/ Sub Abuse
- 18,000
13,875
4,125
GCC Heron Reduce Crime
- 20,345
20,345
-
Low Income Home Energy Prog 03
- 212,598
125,912
86,686
Weather Asst Prgm 03
- 13,131
10,357
2,774
COC Homeless Prevention
- 17,713
17,080
633
ESG KPZ27 EMG Solutions
- 67,563
65,448
2,115
Total Human Services
- 2,866,926
1,555,220
1,311,706
Culture and Recreation:
State Aid to Libraries
- 131,391 96,188
35,203
Lower Keys Scenic VW Area
- 100,000 17,150
82,850
HFKF MC Cult Res
- 39,100 -
39,100
Rowell's Marina Sc Overlook
- 130,000 -
130,000
Total Culture and Recreation
- 400,491 113,338
287,153
(Continued)
The notes to the financial statements
are an integral part of these statements.
C-13
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
GOVERNMENTAL GRANTS SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL - CONTINUED
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Transfers from Other Funds
Transfers to Other Funds
Total Other Financing Sources/(Uses)
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
100,000 22,737,695 8,649,641 14,088,054
- 14,709,083 (3,835,971) (18,545,054
- 4,434, 990 1,509,594 (2,925,396)
- (19,144, 073) - 19,144, 073
- (14,709,083) 1,509,594 16,218,677
- - (2,326,377) (2,326,377)
- - 2,861,850 2,861,850
$ - $ - $ 535,473 $ 535,473
The notes to the financial statements are an integral part of these statements.
C-14
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
SEPTEMBER 30, 2015
ASSETS
Current Assets:
Cash and Cash Equivalents
Investments
Accounts Receivable, Net
Due from Other Governmental Units
Due from Constitutional Officers
Interest Receivable
Total Current Assets
Noncurrent Assets:
Restricted Cash and Cash Equivalents
Restricted Accounts Receivable
Land and Other Nondepreciable Assets
Capital Assets, Net of Accum. Depreciation
Total Noncurrent Assets
Total Assets
DEFERRED OUTFLOWS OF RESOURCES
Related to Pensions
LIABILITIES
Current Liabilities:
Accounts Payable
Retainage Payable
Accrued Wages and Benefits Payable
Claims and Judgments Payable
Due to Other Funds
Due to Other Governmental Units
Due to Constitutional Officers
Accrued Comp. Absences Payable
Unearned Revenues
Deposits in Escrow
Total Current Liabilities
Business -type Activities Enterprise Funds
Major Funds
Municipal Card Key
Svc District Sound West
Waste Bridge Airport
$ 3,832,986 $
1,708,395 $
3,346,098
9,498,724
4,844,746
1,474,783
421,475
-
949,129
102,429
-
173,385
3,979
-
171,459
16,453
8,393
1,325
13,876,046
6,561,534
6,116,179
1,750,629 -
3,629,620 50,000 1,167,487
371,360 7,429,884 60,891,506
5,751,609 7,479,884 62,058,993
19,627,655 14,041,418 68,175,172
81,463 50,691 266,199
1,198,657 18,001 323,645
60,702 39,240 134,722
335
99
1,205,584
2,992
744
11,542
-
626
-
17,943
13,423
33,924
90,909
-
9,800
50,615
-
8,000
1,422,153
72,133
1,727,217
The notes to the financial statements are an integral part of these statements.
C-15
Governmental
Major Funds Activities
Internal
PFC & Oper Marathon Service
Restrictions Airport Total Funds
$ - $ 680,218
$ 9,567,697
$ 10,107,910
- 615,371
16,433,624
14,724,237
- 34,749
1,405,353
11,829
231,010 300,363
807,187
98,324
- -
175,438
262,280
- 2,118
28,289
35,845
231,010 1,632,819
28,417,588
25,240,425
4,770,107 156,668
6,677,404 -
402,174 -
402,174 -
- 2,529,963
7,377,070 54,000
- 9,090,923
77,783,673 941,871
5,172,281 11,777,554
92,240,321 995,871
5,403,291 13,410,373 120,657,909 26,236,296
- 29,931 428,284 118,003
228,743 108,789
1,877,835
1,900,220
97,492 117,538
215,030
-
- 20,547
255,211
99,129
- -
-
2,034,497
- 93
1,206,111
205
- 38,383
53,661
276
- -
626
-
- 4,886
70,176
29,258
- 18,597
119,306
-
- 6,306
64,921
-
326,235 315,139
3,862,877
4,063,585
(Continued)
C-16
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF NET POSITION - CONTINUED
PROPRIETARY FUNDS
SEPTEMBER 30, 2015
Noncurrent Liabilities:
Payable from restricted assets -Landfill
closure/post closure costs
Accrued Comp. Absences Payable
Claims & Judgments Payable
OPEB Liability
Net Pension Liability
Total Noncurrent Liabilities
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Related to Pensions
NET POSITION
Net investment in capital assets
Restricted for:
Passenger Facility Charges
Landfill
Customs Service Operations
Unrestricted
Total Net Position
Business -type Activities Enterprise Funds
Major Funds
Municipal Card Key
Svc District Sound West
Waste Bridge Airport
173,965 -
71,772
53,691
135,697
129,632
-
-
540,000
311,000
564,000
511,149
322,287
1,508,800
1,426,518
686,978
2,208,497
2,848,671 759,111 3,935,714
79,434 48,246 304,901
4,000,980 7,479,884 62,058,993
1,750,629 -
11,029,404 5,804,868 2,141,763
$ 16,781,013 $ 13,284,752 $ 64,200,756
The notes to the financial statements are an integral part of these statements.
C-17
Major Funds
PFC & Oper Marathon
Restrictions Airport Total
- 173,965
Governmental
Activities
Internal
Service
Funds
- 19,542
280,702
117,037
- -
129,632
-
- 362,000
1,777,000
922,000
- 185,733
2,527,969
750,429
- 567,275
4,889,268
1,789,466
326,235 882,414 8,752,145 5,853,051
- 29,772 462,353 112,264
- 11,620,886 85,160,743 995,871
5,077,056 - 5,077,056 -
- - 1,750,629 -
- 156,668 156,668
- 750,564 19,726,599 19,393,113
$ 5,077,056 $ 12,528,118 $ 111,871,695 $ 20,388,984
C-18
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN NET POSITION
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
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
Grants and Donations - Other Sources
Capital Grants and Contributions
Investment Income
Insurance Recoveries
Gain (Loss) on Disposition of Assets
Total Non -Operating
Revenues/(Expenses)
Income/(Loss) Before
Contributions and Transfers
Transfers from Other Funds
Transfers to Other Funds
Transfers from Constitutional Officers
Fixed Asset Transfer from Governmental Funds
Change in Net Position
Total Net Position -October 1
Adjustments to Net Position -October 1
Net Position -October 1 (as Restated)
Total Net Position -September 30
Business -type Activities Enterprise Funds
Major Funds
Municipal Card Key
Svc District Sound West
Waste Bridge Airport
$ 484,741 $ - $ -
17,811,080 1,071,150 6,689,106
- - 1,051
100,039 51 1,115
18, 395, 860 1,071,201 6,691,272
1,093,686
834,863
2,125,463
16,174,106
128,271
4,781,466
69,907
386,725
2,459,218
17,337,699
1,349,859
9,366,147
1,058,161 (278,658) (2,674,875)
- - 423,854
467,270 - -
51,333 18,101 56,230
518,603 18,101 480,084
1,576,764 (260,557) (2,194,791)
- - 4,525,358
(263,190) (149,693) (332,330)
3,979 - -
1,317,553 (410,250) 1,998,237
15,996,370 14,028,865 63,857,717
(532,910) (333,863) (1,655,198)
15,463,460 13,695,002 62,202,519
$ 16,781,013 $ 13,284,752 $ 64,200,756
The notes to the financial statements are an integral part of these statements.
C-19
Governmental
Major Funds Activities
Internal
PFC & Oper Marathon Service
Restrictions Airport Total Funds
$ - $ - $ 484,741 $ -
- 885,399 26,456,735 20,740,143
- - 1,051 -
- 360 101,565 32,489
- 885,759 27,044,092 20,772,632
- 391,557
4,445,569
1,723,654
- 418,521
21,502,364
4,980,606
- 594,596
3,510,446
65,609
- -
-
17, 577, 200
1,404,674
29,458,379
24,347,069
- (518,915)
(2,414,287)
(3,574,437)
4,177,885 911,883
5,513,622 -
- 16,000
483,270 -
1,298,509 63,691
1,362,200 -
4,001 4,291
133,956 73,634
- -
- 1,431,697
- -
- (9,682
5,480,395 995,865 7,493,048 1,495,649
5,480,395 476,950
5,078,761
(2,078,788)
- 210,429
4,735,787
-
(4,734,737) (50,153)
(5,530,103)
(579,520)
- -
3,979
-
- -
-
89,265
745,658 637,226
4,288,424
(2,569,043)
4,331,398 12,085,594 110,299,944 23,735,325
- (194,702) (2,716,673) (777,298)
4,331,398 11,890,892 107,583,271 22,958,027
$ 5,077,056 $ 12,528,118 $ 111,871,695 $ 20,388,984
C-20
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Operating Activities:
Cash received for services
Cash rec'vd from other funds for goods and svcs
Cash received from insurance recoveries
Cash payments to suppliers for goods and svcs
Cash payments for employee services
Cash payments to other funds
Cash payments for claims
Other operating revenue
Net Cash Provided by/(Used in)
Operating Activities
Noncapital Financing Activities:
Operating grants received
Transfers from other funds
Transfers to other funds
Transfers from Constitutional Officers
Net Cash Provided/(Used) by Noncapital
Financing Activities
Capital and Related Financing Activities:
Proceeds from capital grants
Acquisition of capital assets
Net Cash Provided/(Used) by Capital and
Related Financing Activities
Investing Activities:
Investment income
Proceeds from sales and maturities of investments
Purchase of investment securities
Net Cash Provided/(Used) in Investing Activities
Net Increase/(Decrease) in Cash and
Cash Equivalents
Cash and Cash Equivalents:
October 1
September 30
Business -type Activities Enterprise Funds
Major Funds
Municipal Card Key
Svc District Sound West
Waste Bridge Airport
$ 18, 423, 800 $ 1,071,150 $ 6,520,083
(3,722)
-
895,993
(16,543,833)
(112,993)
(5,216,021)
(1,112,004)
(806,647)
(2,156,927)
(28,626)
220
1,201,184
100,039
51
2,166
835,654 151,781 1,246,478
- - 423,854
- - 4,525,358
(263,190) (149,693) (332,330)
3,979 - -
(259,211) (149,693) 4,616,882
(81,433) (1,053) (4,629,504)
(81,433) (1,053) (4,629,504)
51,333 18,101 56,230
4,433,268 2,262,063 -
(5,467,658) (2,788,946) (793,236)
(983,057) (508,782) (737,006)
(488,047) (507,747) 496,850
6,071,662 2,216,142 2,849,248
$ 5,583,615 $ 1,708,395 $ 3,346,098
The notes to the financial statements are an integral part of these statements.
C-21
Governmental
Major Funds
Activities
Internal
PFC & Oper Marathon
Service
Restrictions Airport
Total Funds
$ (251, 371) $ 891,488
$ 26,655,150
$ 20,737,157
(231,010) (188,261)
473,000
(130,898)
- -
-
1,431,697
326,235 (201,629)
(21,748,241)
(5,091,924)
- (356,204)
(4,431,782)
(1,561,352)
- 36,266
1,209,044
475
- -
-
(17,990,859)
- 360
102,616
32,489
(156,146) 182,020 2,259,787 (2,573,215)
4,177,885 927,883 5,529,622 -
- 210,429 4,735,787 -
(4,734,737) (50,153) (5,530,103) (579,520)
- - 3,979 -
(556,852) 1,088,159 4,739,285 (579,520)
1,298,509 63,691 1,362,200 -
- (1,674,649) (6,386,639) (4,738)
1,298,509 (1,610,958) (5,024,439) (4,738)
4,001 4,291 133,956 73,634
- 993,032 7,688,363 13,812,340
- (518,929) (9,568,769) (10,095,091)
4,001 478,394 (1,746,450) 3,790,883
589,512 137,615 228,183 633,410
4,180,595 699,271 16,016,918 9,474,500
$ 4,770,107 $ 836,886 $ 16,245,101 $ 10,107,910
(Continued)
C-22
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF CASH FLOWS -CONTINUED
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
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
Nonoperating Income -Insurance Recoveries
Change in Assets and Liabilities:
(Increase)/Decrease in Accounts receivable
(Increase)/Decrease in Due from other gov't units
(Increase)/Decrease in Due fm constitutional ofcrs
Increase/(Decrease) in Accounts payable
Increase/(Decrease) in Retainage 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 Due to constitutional ofcrs
Increase/(Decrease) in Comp. absences payable
Increase/(Decrease) in Deposits in escrow
Increase/(Decrease) in Landfill Closure Costs
Increase/(Decrease) in Unearned revenue
Increase/(Decrease) in OPEB liability
Increase/(Decrease) in Pension liability
Increase/(Decrease) in Deferred outflows
Increase/(Decrease) in Deferred inflows
Total adjustments
Net Cash Provided by/(Used in)
Operating Activities
Noncash investing, capital, and financing activities:
Transfer of Fixed Assets
Gain (Loss) on disposition of assets
Forgiveness of capital lease amount
Change in fair value of investments
Cash Reconciliation:
Unrestricted
Restricted
Total
Business -type Activities Enterprise Funds
Major Funds
Municipal Card Key
Svc District Sound West
Waste Bridge Airport
$ 1,058,161 $ (278,658) $ (2,674,875)
69,907
386,725 2,459,218
37,070
- (157,419)
(3,480)
- 996,826
(242)
- (100,833)
(358,324)
15,278 (392,699)
(15,305)
- (41,856)
23,185
23,725 89,332
335
99
1,205,584
(28,961)
744
(4,400)
-
(623)
-
(20,930)
(75)
(33,676)
1,500
-
-
2,402
-
-
90,909
-
(11,604)
3,217
18,587
20,576
152,397
93,567
546,505
(35,767)
(22,299)
(115,202)
(140,420)
(85,289)
(538,999)
(222, 507)
430,439
3,921,353
$ 835,654 $ 151,781 $ 1,246,478
$ - $ - $ (1,050)
$ - $ (2,900) $ -
$ 467,270 $ - $ -
$ 22,605 $ 11,530 $ 2,714
$ 3,832,986 $ 1,708,395 $ 3,346,098
1,750,629 - -
$ 5,583,615 $ 1,708,395 $ 3,346,098
The notes to the financial statements are an integral part of these statements.
C-23
Governmental
Major Funds
Activities
Internal
PFC & Oper Marathon
Service
Restrictions Airport
Total Funds
$ - $ (518,915) $ (2,414,287) $ (3,574,437)
- 594,596 3,510,446 65,609
- - - 1,431,697
(251,371)
6,379
(365,341)
(2,986)
(231,010)
(188,261)
574,075
(67,134)
-
-
(101,075)
(63,764)
228,743
99,354
(407,648)
(111,318)
97,492
117,538
157,869
-
11,456
147,698
63,788
-
-
-
(413,659)
-
93
1,206,111
205
-
36,173
3,556
270
-
-
(623)
-
-
1,656
(53,025)
(5,107)
-
-
1,500
-
-
-
2,402
-
-
(290)
79,015
-
-
31,369
73,749
136,229
-
56,619
849,088
217,759
-
(13,119)
(186,387)
(51,911)
-
(52,628)
(817,336)
(198,456)
(156,146)
700,935
4,674,074
1,001,222
$ (156,146) $ 182,020 $ 2,259,787 $ (2,573,215)
$
- $
1,050 $ -
$ 89,265
$
- $
- $ (2,900)
$ -
$
- $
- $ 467,270
$ -
$
- $
2,145 $ 38,994
$ 41,737
$ - $ 680,218 $ 9,567,697 $ 10,107,910
4,770,107 156,668 6,677,404 -
$ 4,770,107 $ 836,886 $ 16,245,101 $ 10,107,910
C-24
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF FIDUCIARY NET POSITION
FIDUCIARY FUND
SEPTEMBER 30, 2015
Fire and
EMS
Pension
Trust Fund
ASSETS
Cash and Cash Equivalents
$ 231,506
Investments:
US Treasury Notes
281,223
Federal Agency Bonds/Notes
352,381
Interest Receivable
1,111
Total Assets
866,221
Accounts Payable
LIABILITIES
NET POSITION
Held in Trust for Pension Benefits and Other Purposes
330
$ 865,891
The notes to the financial statements are an integral part of these statements.
C-25
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
FIDUCIARY FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Fire and
EMS
Pension
Trust Fund
Additions:
Employer Contributions
$ 25,547
Investment Income
2,333
Total Additions
27,880
Deductions:
Pension Benefits (28,321)
Total Deductions (28,321)
Change in Net Position (441)
Total Net Position- October 1 866,332
Total Net Position- September 30 $ 865,891
The notes to the financial statements are an integral part of these statements.
C-26
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following summary of the more significant accounting policies of the Monroe County, Florida
Board of County Commissioners (Board) is presented to assist the reader in interpreting these financial
statements and should be viewed as an integral part of this report.
Reporting Entity
Monroe County, Florida (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 primary government
of the County is comprised of the Board of County Commissioners and five "constitutional officers" as
follows: Clerk of the Circuit Court, Property Appraiser, Sheriff, Supervisor of Elections and Tax
Collector.
Entity status for financial reporting purposes is governed by Statement No. 14, as amended, 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. The financial statements of
the Board, when combined with all of its blended component units and the constitutional officers,
constitute the "primary government" of Monroe County according to GAAP. The primary government
constitutes the complete GAAP basis financial reporting entity of the County which is presented in the
Monroe County, Florida Comprehensive Annual Financial Report.
These financial statements include all funds of the Board and its "blended" component units, if material.
"Component units" are legally separate entities for which operational or financial responsibility rests
with the Board or for which the nature and significance of their relationship to the Board is such that
exclusion would cause the financial statements to be misleading or incomplete.
Since this report excludes the constitutional officers, these Board financial statements do not purport to
reflect the financial position or the results of operations of Monroe County, Florida taken as a whole.
Rather, they have been prepared to provide information at this level of detail greater than what is
available in the County's financial statements.
The Board of County Commissioners, composed of five members, is the legislative body for Monroe
County and as such budgets and provides funding used by the separate Constitutional Offices with the
exception of fees collected by the Clerk of the Circuit Court and the Tax Collector. Under the direction
of the Clerk of the Circuit Court, the Monroe County Finance Department maintains the accounting
system for the Board's operations, but excluding 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.
D-1
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (continued)
Blended component units are legally separate entities that are in substance part of the Board's operation,
as they either have governing bodies that are substantively the same as the Board or they provide their
services exclusively or almost exclusively to the Board. The financial transactions of the component
unit are merged in with similar transactions of the Board as part of the primary government.
The blended component unit of the Board is as follows:
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
provides services exclusively to the County. 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 Board 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. They are reported in a separate column to emphasize that they are legally separate from the
Board. The following is a discretely -presented component unit of the Board:
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 but there is no financial benefit or burden relationship. Therefore, the
MCLA, for financial reporting purposes, is considered a discretely -presented component unit of
Monroe County, Florida and is presented as a separate column in the County's financial
statements. Complete financial statements for MCLA can be obtained from MCLA's
administrative office at 1200 Truman Avenue, Suite 207, Key West, Florida 33040.
D-2
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (continued)
Basis of Presentation:
The Board's financial statements are prepared in accordance with Chapter 10.550, Rules of the Auditor
General Local Governmental Entity Audits (the "Rules"), which do not require separate financial
statements for the Board but which specify certain requirements if such financial statements are
presented. Requirements include presentation of fund -level and component unit financial statements.
Government -wide financial statements, related disclosures and management's discussion and analysis
are not required by the Rules and are not presented. As such, these statements present information about
the Board's funds, including fiduciary funds, but do not present a complete presentation of the Board's
financial position and changes in financial position. Separate columns are presented for each major
governmental fund and for each major enterprise fund.
The following are reported as major governmental funds:
General Fund - The General Fund is the general operating fund of the Board. 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.
Governmental Grants Special Revenue Fund - The Governmental Grant Fund is used to account
for operating revenues and expenditures for governmental activity of federal and state grants.
One Cent Infrastructure Surtax Capital Project Fund - The One Cent Infrastructure Surtax Fund
is used to account for capital improvements funded by the One Cent Infrastructure Surtax.
Big Coppitt Wastewater Capital Project Fund - The Big Coppitt Wastewater Capital Project
Fund is used to account for the revenues and expenditures for the wastewater infrastructure for
the Big Coppitt, Geiger Key, Shark Key and Rockland Key areas of Monroe County.
Cudj oe Regional Wastewater Capital Project Fund - The Cudj oe Regional Wastewater Capital
Project Fund is used to account for the revenues and expenditures for the wastewater
infrastructure for the Cudj oe Regional area of Monroe County.
All Debt Service Fund — The All Debt Service Fund is used to account for accumulation of
resources for, and payment of, interest and principal on the long-term debt incurred in the
issuance of various revenue bonds and notes.
D-3
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (continued)
The following are reported as major enterprise funds:
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.
PFC Operations & Restrictions - The Passenger Facility Charge Operations & Restrictions Fund
is used to collect passenger finance charges to be used for capital expenditures related to Monroe
County's Key West International and Marathon Airports.
Marathon Airport - The Marathon Airport Fund is used to account for the operations of Monroe
County's Marathon Airport.
The Board also reports the following fund types:
Internal Service Funds - Internal service funds are used to account for the financing of
worker's 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 fiduciary 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; and therefore, not available to support Board programs.
Measurement Focus and Basis of Accounting:
Governmental fund financial statements are reported using the current financial resources measurement
focus and 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 Board 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.
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (continued)
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 fund for payments to be made early in the
following year. In addition, expenditures related to compensated absences are recorded only when leave
has been taken.
Revenues of the Board, which are susceptible to accrual under the modified accrual basis of accounting,
include property taxes, gas taxes, sales 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 Board; 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. If revenues are expected to be received later than 60 days following
the end of the fiscal year, then a receivable is recorded, along with deferred inflows of resources. Once
the funds are received, revenue and cash are recorded and the receivable and deferred inflows of
resources are eliminated.
The proprietary fund and pension trust fund financial statements use a flow of economic resources
measurement focus and the accrual basis of accounting. 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 board gives (or receives) value without directly receiving (or
giving) equal value in exchange, include grants. On an accrual basis, revenue from grants is recognized
in the fiscal year in which all eligibility requirements have been satisfied.
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 Board'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.
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.
D-5
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (continued)
Budgets and Budgetary Data - The following are the statutory procedures followed by the Board of
County Commissioners in establishing the budget for Monroe 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.
2) Within fifteen days after certification of the ad valorem tax roll by the Property Appraiser, the
County Budget Officer submits to the Board 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.
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 expenditure 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.
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 in the restricted, committed or assigned fund
balance classifications, and is employed as an extension of the statutorily required budgetary process.
Under Florida Statutes, appropriations, even if encumbered, lapse at fiscal yearend. It is the Board's
intention to substantially honor these encumbrances under authority provided in the subsequent year's
budget.
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (continued)
Cash and Cash Equivalents — Cash balances from 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, which allows investment of surplus funds in the following:
1) The Florida Local Government Surplus Funds Trust Fund Investment Pool (SBA).
2) United States Government Securities — Negotiable direct obligations or obligation, the principal
and interest of which are unconditionally guaranteed by the United States Government.
3) 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.
4) 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.
5) 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.
6) 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.
D-7
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (continued)
7) Intergovernmental Investment Pool — Intergovernmental Investment Pools that are authorized
pursuant to the Florida Interlocal Cooperation Act, as provided in Section 163.01, Florida
Statutes.
All investments are stated at fair value.
Accounts Receivable - Amounts due from private individuals, organizations, or other governments,
which pertain to charges for services rendered by Board 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 Board has numerous
transactions between funds. Examples of these transactions include providing services, constructing
assets, matching grants 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/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.
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. Inventories are
reported as an unspendable classification of fund balance as these amounts are not in spendable form
and are not expected to be converted to cash.
Capital Assets - Capital assets of the Board 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.
Capital assets associated with business -type activities and the internal service funds are presented in the
Board's basic financial statements. Capital assets associated with the Board's governmental activities
are presented on the government -wide financial statements of the County, rather than on the financial
statements of the Board.
The Board maintains a $1,000 threshold for additions to equipment with an estimated useful life in
excess of two years. Buildings are capitalized when the value is $15,000 or greater. Public domain and
infrastructure assets represent major expenditures for such items as roads, water and sewer
treatment plants and lines, landfill improvements, parks and drainage systems. Additions and
improvements for roads, water, sewer, landfill and drainage infrastructure are capitalized when the cost
amounts to $250,000 while park additions and improvements are capitalized at $25,000.
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
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
Infrastructure
10-50
Public domain infrastructure
20-50
Capacity rights
99
Capacity rights represent an intangible asset that arose from a contract with a private wastewater
operator that included wastewater processing capacity for 1,500 equivalent dwelling units for a period of
99 years.
Compensated Absences — Board policy permits employees to accumulate a limited amount of annual
and sick leave, which will be paid to employees upon termination of employment. Accumulated annual
and sick leave is accrued when earned in the proprietary fund financial statements. For the proprietary
funds, an expense and a liability are recorded as the leave is earned. Compensated absences associated
with the Board's governmental activities are presented on the government -wide financial statements of
the County, rather than on the financial statements of the Board.
Restricted Assets — The use of certain assets of enterprise funds is restricted by specific provisions of
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 hierarchy
of enterprise fund spending is to use restricted resources first, and then unrestricted resources, as they
are needed.
Landfill Closure Costs — Under the terms of current state and federal regulations, the Board 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 Inflows of Resources — Represents an acquisition of net position that applies to a future period
and so will not be recognized as an inflow of resources until that time. The Board has three items that
qualify for reporting in this category, advances from other governments, unavailable revenues, and
pension -related items. The advances from other governments are grants received in advance of meeting
the timing requirements for revenue recognition in governmental funds. The governmental funds report
unavailable revenues where receipts are not within the 60 day time frame for revenue recognition. The
enterprise and internal service funds report deferred inflows for pension -related items as actuarially
determined.
I9 •
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (continued)
Deferred Outflows of Resources — Represents an acquisition of net assets that applies to a future period
and therefore will not be recognized as an outflow of resources (expense) until that future time. The
enterprise and internal service funds report one deferred outflow related to pensions.
Long -Term Obligations — Long-term debt is reported as a liability in the proprietary fund statement of
net position. Long-term debt associated with the Board's governmental activities is presented on the
government -wide financial statements of the County, rather than on the financial statements of the
Board. In the Board's governmental fund financial statements, the face amount of debt issued is
reported as another financing source, while principal payments are reported as expenditures.
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 2015 is included in the accompanying financial statements, since such taxes are collected
to finance expenditures of the subsequent period.
Fund Balance Policies — The focus of fund balance reporting is to clearly communicate the constraints
imposed upon resources in governmental funds. The fund balance classifications indicate the level of
constraints placed upon how resources can be spent and identify the sources of those constraints. The
following five classifications: nonspendable, restricted, committed, assigned, and unassigned, serve to
inform readers of the financial statements of the extent to which the Board is bound to honor constraints
on the specific purposes for which resources in a fund can be spent.
Fund balances of governmental type funds are classified as follows:
Nonspendable — Include amounts that cannot be spent because they are either not in spendable
form, or for legal or contractual reasons, must be kept intact. This classification includes
inventory.
Restricted — Include amounts that can be spent only for specific purposes because of
constitutional provisions or enabling legislation, or because of constraints that are externally
imposed by creditors, grantors, contributors or the laws or regulations of other governments.
Committed — Include amounts that can be used only for the specific purposes determined by a
formal action in the form of a resolution of the Board of County Commissioners, the County's
highest level of decision making authority. Commitments may be changed or lifted only by the
Board taking the same formal action that imposed the constraint originally.
D-10
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (continued)
Assigned — Include amounts that are intended by the Board to be used for specific purposes
determined by a formal action in the form of a resolution, but are neither restricted nor
committed. The Board's policy authorizes the County Administrator to assign fund balance
based on intentions for use of fund balance communicated by the Board.
Unassigned — This is the residual classification of the General Fund. Only the General Fund
reports a positive unassigned fund balance. Other governmental funds might report a negative
balance in this classification, as the result of overspending for specific purposes for which
amounts had been restricted, committed, or assigned. Unassigned fund balance does not
necessarily represent the amount of fund balance that can be appropriated.
The Board has the responsibility of responding to emergency disaster and has committed $10,000,000 in
general fund disaster reserve funds to ensure adequate cash flow is available in post -disaster situations.
The Board's policy on unassigned general fund balance is to achieve and maintain an unassigned
General Fund balance equal to four months of budgeted expenditures. The Board considers a balance of
less than four months to be a cause for concern, barring unusual or deliberate circumstances, and a
balance of more than six months as excessive. Since this is a plan for accumulating resources rather
than a limitation on how existing resources can be spent, the fund balance policy does not affect the
classification of fund balance and is included in the unassigned fund balance.
The County spends restricted amounts first, when both restricted and unrestricted fund balance is
available, unless prohibited by legal documents, grant agreements or contracts. Additionally, the
County uses committed fund balance, followed by assigned fund balance and then unassigned fund
balance when expenditures are incurred for purposes for which amounts in any of the unrestricted fund
balance classifications could be used.
Fund Deficits — The 911 Enhancement Fee fund had a negative fund balance of $3,299 as of September
30, 2015. This balance will be resolved in fiscal year 2016.
Net Position — Net position in the proprietary fund financial statements is classified as net investment in
capital assets, restricted; and unrestricted. Restricted net position of $6,984,353 represents 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.
New Accounting Pronouncements — Effective October 1, 2014, the Board adopted the provisions of
GASB Statement No. 68, Accounting and Financial Reporting for Pensions an amendment of GASB
Statement No. 27, and GASB Statement No. 71, Pension Transition for Contributions Made Subsequent
to the Measurement Date an amendment of GASB Statement No. 68. Implementation of these
statements resulted in a restatement of beginning net position, resources and deferred inflows of
resources for its pension contributions made subsequent to the measurement date of the beginning net
pension liability for the Board's business -type activities and internal service funds.
D-11
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 2 - CASH, CASH EQUIVALENTS AND INVESTMENTS
The Board 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, 2015, except for the Pension Trust Fund cash of $231,506 and investments of
$633,604, the carrying value of the Board's deposits and investments with their respective credit ratings
are as follows:
Credit
Investment Type Rating
Less than 6 6 Months to 1
Fair Value Months Year 1 to 3 Years
Demand and Time Deposits N/A $ 99,958,237 $ 99,958,237 $ - $ -
Equity Securities N/A 9,515 9,515 - -
US Treasury Notes AA+ 87,745,802 30,591,276 21,016,830 36,137,696
Federal Agency Bond / Note AA+ 50,370,398 14,437,625 24,464,328 11,468,445
Total Fair Value $238,083,952 $ 144,996,653 $ 45,481,158 $ 47,606,141
Credit Risk — The Board'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:
Investment Type
Florida Local Government Surplus Funds Trust Fund
United States Government Securities
United States Government Agencies
Federal Instrumentalities Maximum in callable securities
Interest -bearing Time Deposit or Savings Accounts
Money Market Mutual Funds
Intergovernmental Investment Pool
Portfolio Maximum Maximum in any one issuer
100%
100%
50%
80%
10%
20%
10%
D-12
Wa
Wa
10%
30%, with a maxinnun of 25% in callable securities
10%
10%
Wa
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 2 - CASH, CASH EQUIVALENTS AND INVESTMENTS - (continued)
As of September 30, 2015, the Board's asset allocation slightly exceeded its individual issuer policy
with Money Market Mutual Funds at 10.47% in Federated Tax Free Obligations. These funds were held
in these accounts as projects required payment in the near term and were used to meet these liquidity
needs.
At September 30, 2015, the portion of the Board's investment portfolio invested in Federal
instrumentalities is detailed as follows:
Percent of
Investment
Issue Portfolio
Federal Home Loan Bank 5.97%
Federal Farm Credit Bank 2.16%
Federal Home Loan Mortgage Corp 11.46%
Federal National Mortgage Assoc 16.88%
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. Demand and time
deposits are fully insured by the FDIC for the first $250,000 at each institution and the remaining
balances are insured 100% by the State of Florida collateral pool, a multiple institution pool with the
ability to assess its members for collateral shortfalls if a member institution fails.
The Policy requires execution of a third -party custodial safekeeping agreement for all purchased
securities, and requires that securities be held in the Board's name. As of September 30, 2015, all of the
Board's investments are held in a bank's trust department in the Board'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 noncurrent operating funds to five years.
Restricted Cash and Cash Equivalents — The Board, excluding the Pension Trust Fund, has the following
unrestricted and restricted cash and cash equivalents at September 30, 2015:
D-13
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 2 - CASH, CASH EQUIVALENTS AND INVESTMENTS - (continued)
Unrestricted Cash & Cash Equivalents:
Governmental Activities:
Governmental Funds
Internal Service Funds
Business -Type Activities
Local
Government
Surplus Trust Demand
Fund Deposits Total
$ - $ 73,605,226 $ 73,605,226
- 10,107,910 10,107,910
7,112 9,560,585 9,567,697
Total Unrestricted Cash& Cash Equivalents 7,112 93,273,721 93,280,833
Restricted Cash and Cash Equivalents:
Business -Type Activities - 6,677,404 6,677,404
Total Cash and Cash Equivalents $ 7,112 $ 99,951,125 $ 99,958,237
NOTE 3 — RESTRICTED ASSETS
Restricted assets in the Enterprise Funds include those created by resolutions adopted by the Board for
the landfill escrow account, airport passenger facility charges and customs service operations. Total
restricted assets as of September 30, 2015 are as follows:
Cash and Cash Accounts
Equivalents Receivable Total
Municipal District Waste
Landfill Closure Escrow $ 1,750,629 - $ 1,750,629
PFC Oper & Restrictions
Passenger Facility Charge 4,770,107 402,174 5,172,281
Marathon Airport
Customs Service Operations 156,668 - 156,668
$ 6,677,404 $ 402,174 $ 7,079,578
D-14
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 4 — ACCOUNTS RECEIVABLE
Accounts receivable, in the accompanying fund financial statements, are shown net of the allowance for
doubtful accounts. The accounts receivable and the allowance balances are as follows:
Accounts Allowance for Accounts
Service Provided Receivable Uncollectible Receivable, Net
Accounts
Governmental Activities:
General Fund Misc $ 109,838 $ 7,439 $ 102,399
Fine & Forfeiture Fund Air Amb Svc 8,406,038 8,071,343 334,695
Governmental Grants Misc 11 - 11
Nonmajor Funds:
Fire & Amb Dist 1 Fund Ground Amb Svc 2,558,710 2,499,428 59,282
Other Nonmajor Funds Misc 2,930 - 2,930
Internal Service Funds Misc 11,829 - 11,829
Total Governmental Activities 11,089,356 10,578,210 511,146
Business -Type Activities
MSD-Waste Fund:
Tipping Fees
30,549
2,022
28,527
Waste Assessments
8,139
7,326
813
Solid Waste
392,135
-
392,135
Key West Airport
Rent, Misc
949,129
-
949,129
Marathon Airport
Misc
34,749
-
34,749
Total Business -Type Activities
1,414,701
9,348
1,405,353
Total Accounts Receivable
$ 12,504,057
$ 10,587,558
$ 1,916,499
The Board of County Commissioners did not vote to approve any new air and ground ambulance billing
write offs during the year.
D-15
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 5 - ASSESSMENTS RECEIVABLE
The County has been improving water quality by replacing cesspits and septic systems with a series of
central wastewater collection and treatment systems. The County has funded these projects with state
grants and loans, local infrastructure sales surtax and special assessments levied on the property owners.
The property owners have the option of paying their special assessments up front or on an installment
basis that is added to their real estate tax bills. Revenue is recognized on the modified accrual basis.
Once the construction project is substantially complete, the remaining assessment is recorded with an
offset to deferred inflows of resources for those amounts that are not available.
Property owners who selected the installment option under the Stock Island, Big Coppitt and Duck Key
assessment programs continue to pay the assessments remaining for these completed projects. The
Cudj oe Regional project, which includes Sugarloaf Key, Summerland Key, Cudj oe Key and Big Pine
Key, is ongoing and all collections are shown as unearned revenues until project completion.
NOTE 6 - MORTGAGES RECEIVABLE
Mortgages receivable at September 30, 2015 consist of the following:
Major Governmental Funds -Governmental Grants Fund:
Second Mortgages Receivable from individuals, collateralized by personal residences.
Payment of principal deferred for ten (10) years from date of note. Principal is amortized in
equal monthly amounts starting in year six (6) until ten (10) at which time the loan is fully
forgiven. In event of sale/transfer of property or occupancy the prorated principal balance is
due in full within thirty (30) days of sale/transfer or cessation of primary residence. $474,478
Nonmajor Governmental Funds -Local Housing Assistance:
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. 51,200
D-16
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 6 - MORTGAGES RECEIVABLE (continued)
Nonmajor Governmental Funds -Local Housing Assistance (continued):
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. 7,680,845
Second Mortgages Receivable from individuals, collateralized by personal residences. The
entire balance of the mortgages will be forgiven upon maturity, provided that the mortgagor
complies with the mortgage covenants. The mortgages are interest free. 492,673
Second Mortgages Receivable from individuals, collateralized by personal residences. The
entire balance of the mortgages will be forgiven over ten, fifteen or twenty years, provided
that the mortgagor complies with the mortgage covenants. The mortgages are interest free. 173,875
Florida Homebuyer Opportunity Tax Credit (FHOP), Second Mortgages Receivable from
individuals, collateralized by personal residences. Interest on note is 6% per annum, except
if paid in full within first 18 months of repayment period then interest rate shall be 0% from
the date when the first payment is due. 16,000
Second Mortgages Receivable from individuals, collateralized by personal residences. The
entire balance of the mortgages will be forgiven upon maturity, provided that the mortgagor
complies with the mortgage covenants. The mortgages are interest free.
Total Nonmajor Governmental Funds -Local Housing Assistance
Total Mortgages Receivable
D-17
68.156
$8,957,227
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 6 - MORTGAGES RECEIVABLE (continued)
The mortgages receivable associated with the Governmental Grants are offset by an allowance for
uncollectible accounts of $474,478. As the mortgages receivable associated with the Local Housing
Assistance fund are intended to ultimately be forgiven, an allowance for uncollectible accounts of
$8,482,749 has been established.
NOTE 7 — CAPITAL ASSETS
Amounts associated with the Board's governmental activities' capital assets, related accumulated
depreciation, and depreciation expense are reported on the government -wide financial statements of the
County, rather than on the financial statements of the Board. Amounts associated with the Board's
business -type activities' and internal service funds' capital assets, related accumulated depreciation, and
depreciation expense are reported on the proprietary fund financial statements of the Board.
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.
Capital asset activity for the year ended September 30, 2015 is as follows:
Beginning
Balances Additions Reductions
Governmental Activities
Capital assets not depreciated
Ending Balances
Land
$ 76,858,810
$ 602,761
$ (3,145,660)
$ 74,315,911
Construction in progress
88,161,759
67,996,984
(2,209,399)
153,949,344
Total capital assets not depreciated
165,020,569
68,599,745
(5,355,059)
228,265,255
Capital assets depreciated:
Buildings
156,696,451
534,063
-
157,230,514
Equipment
28,254,801
3,650,201
(2,302,453)
29,602,549
Infrastructure
106,217,634
880,544
-
107,098,178
Capacity rights
3,150,000
-
-
3,150,000
Total capital assets depreciated
294,318,886
5,064,808
(2,302,453)
297,081,241
Less accumulated depreciation for:
Buildings
(55,064,427)
(3,138,304)
-
(58,202,731)
Equipment
(21,639,267)
(1,895,419)
2,262,019
(21,272,667)
Infrastructure
(32,258,297)
(2,126,489)
-
(34,384,786)
Capacity rights
(318,180)
(31,818)
-
(349,998)
Total accumulated depreciation
(109,280,171)
(7,192,030)
2,262,019
(114,210,182)
Total capital assets depreciated, net
185,038,715
182,871,059
Governmental funds, capital assets, net
$ 350,059,284
$ 411,136,314
IM
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 7 — CAPITAL ASSETS - (Continued)
Business -type Activities:
Capital assets not depreciated:
Land
Construction in progress
Total capital assets not depreciated
Capital assets depreciated:
Land improvements
Buildings
Equipment
Infrastructure
Total capital assets depreciated
Less accumulated depreciation for:
Land improvements
Buildings
Equipment
Infrastructure
Total accumulated depreciation
Total capital assets depreciated, net
Business -type activities, capital assets, net
Beginning
Balances Additions
Reductions Ending Balances
$ 5,647,606
$ -
$ -
$ 5,647,606
909,783
6,180,946
(5,361,265)
1,729,464
6,557,389
6,180,946
(5,361,265)
7,377,070
212,925
-
-
212,925
56,525,004
496,101
-
57,021,105
5,130,792
208,592
(334,869)
5,004,515
50,546,472
4,865,165
-
55,411,637
112,415,193
5,569,858
(334,869)
117,650,182
(212,925)
-
(12,392,511)
(1,435,681)
(3,893,966)
(349,244)
(20,188,632)
(1,725,521)
(36,688,034)
(3,510,446)
75, 727,159
$ 82,284,548
(212,925)
- (13,828,192)
331,971 (3,911,239)
- (21,914,153)
331,971 (39,866,509)
77,783,673
$ 85,160,743
Depreciation was charged to functions/programs on the government -wide Statement of Activities of the
County as follows:
Governmental Activities:
Business -type Activities:
General Government
$ 1,579,526
Municipal Service District -Waste
$ 69,907
Public Safety
2,075,022
Card Sound Bridge
386,725
Physical Environment
1,056,502
Key West Airport
2,459,218
Transportation
1,116,431
Marathon Airport
594,596
Economic Environment
25,619
Human Services
203,819
Total Business -type Activities
$ 3,510,446
Culture and Recreation
401,838
Court Related
733,273
Total Governmental Activities $ 7,192,030
D-19
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 8 — POST EMPLOYMENT BENEFITS OTHER THAN PENSION
General Information about the Other Post -Employment Benefits
Plan Description - The Monroe County Board of County Commissioners (BOCC) administers a single -
employer defined benefits healthcare plan (the "Plan"). Florida Statute 112.0801 requires the County to
provide retirees and their eligible dependents with the option to participate in the Plan if the County
provides health insurance to its active employees and their eligible dependents. The Plan provides
medical coverage and prescription drug benefits to both active and eligible retired employees. The Plan
does not issue a publicly available financial report.
The BOCC may amend the plan design, with changes to the benefits, premiums and/or levels of
participant contribution at any time. In an open session, on at least an annual basis and prior to the
annual enrollment process, the BOCC approves the rates for the coming calendar year for the retiree and
County contributions.
The Plan includes participants from the BOCC and each Constitutional Officer. The BOCC is
responsible for funding all obligations not funded on a pay as you go basis by Constitutional Officers.
Accordingly, all disclosures are on a County -wide basis and the net OPEB obligation for the Board
includes obligations related to the Constitutional Officers.
Benefits Provided - Employees who retire as an active participant in the Plan and were hired on or after
October 1, 2001 may continue to participate in the Plan by paying the monthly premium established
annually by the BOCC. Employees who retire as an active participant in the plan, were hired before
October 1, 2001, have at least ten years of full time service with the County, and meet the retirement
criteria of the Florida Retirement System (FRS) may continue to participate in the Plan at a cost equal to
the FRS Health Insurance Subsidy for ten years of service (currently $5 per month for each year of
service credit at retirement or $50 per month). Retirees who have met the requirements for early
retirement, have not achieved age 60 and whose age and years of service do not equal 70 (rule of 70)
must pay the standard monthly premium until the age criteria or the rule of 70 is met. At that time, the
retiree's cost of participation will be equal to the FRS Health Insurance Subsidy. Surviving spouses and
dependents of participating retirees may continue in the plan if eligibility criteria specific to those
classes are met.
Employees Covered by Benefit Terms - Eligibility for post -employment participation in the Plan is
limited to full time employees of the County, and the Constitutional Officers. At September 30, 2015,
there were no terminated employees entitled to deferred benefits. The membership of the County's
medical plan consisted of:
Active Employees
1,257
Retirees and beneficiaries currently receiving benefits 425
Total Membership
D-20
1,682
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 8 — POST EMPLOYMENT BENEFITS OTHER THAN PENSION - (Continued)
Contributions — The contribution requirements of plan members and the County are established and may
be amended by the County. The required contribution is based on pay-as-you-go financing
requirements, net of member contributions.
Net OPEB Liability
Actuarial Methods and Assumptions Projections of benefits for financial reporting purposes are based
on the substantive plan (the plan as understood by the employer and plan members) and include the
types of benefits provided at the time of each valuation and the historical pattern of benefit cost sharing
between the employers and plan members to that point.
The valuation dated September 16, 2015, as of October 1, 2014 was prepared using generally accepted
actuarial principles and practices, and relied on unaudited census data and medical claims data reported
by the County. The valuation used the projected unit credit actuarial method. Demographic assumptions
mirror those used for the various Florida Retirement System pension funds. The actuarial assumptions
include an annual health care cost trend rate of 8.0% initially, reduced by decrements of 0.5% to an
ultimate rate of 5.0%. The assumptions included a discount rate that is tied to the return expected on the
funds used to pay the benefits, and assumes for an unfunded plan, that the benefits continue to be funded
on a pay-as-you-go basis, that the County's investments earn a 4.5% rate of return over the long term,
and the inflation rate will be 3.5%. The unfunded accrued actuarial liability is amortized over thirty
years on an open basis, as a level percentage of the projected payroll, which is assumed to increase at
3.5% per annum.
Annual OPEB Costs and Net OPEB Obligation — The County's annual other postemployment benefit
(OPEB) cost (expenses) is calculated based on the annual required contribution of the employer (ARC),
an amount actuarially determined in accordance with the parameters of GASB Statement 45. The ARC
represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost each
year and amortize any unfunded liabilities over a period not to exceed thirty years. The following table
shows the actuarially determined components as of October 1, 2014 (the latest actuarial valuation
date), under the current plan provisions, of the County's unfunded annual OPEB cost, the amount
actually contributed to the plan and the changes in the County's net OPEB obligation to the plan.
Annual required contribution
$ 6,466,000
Interest on net OPEB obligation
1,546,000
Adjustment to annual required contribution
(1,312,000)
Annual OPEB cost
6,700,000
Less Contributions made
(2,963,282)
Increase in net OPEB obligation
3,736,718
Net OPEB obligation, beginning of year
34,363,768
Net OPEB obligation, end of year
$ 38,100,486
D-21
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 8 — POST EMPLOYMENT BENEFITS OTHER THAN PENSION - (Continued)
The County's annual OPEB cost, the percentage of annual OPEB cost contributed to the plan and the net
OPEB obligation for 2015 and the two preceding years were as follows (amounts expressed in
thousands):
Fiscal
Annual
Percentage
Net
Year
OPEB
Annual Cost
OPEB
Ended
Cost
Contributed
Obligation
9/30/2013
$ 7,584
51.4%
$ 30,572
9/30/2014
6,449
41.2%
34,364
9/30/2015
6,700
55.5%
38,100
The estimated net OPEB obligation at the end of the year is $36,323,486 for Governmental Activities
and $1,777,000 for Business -type Activities. The OPEB obligation for governmental activities is
presented only on the government -wide financial statements of the County.
No trust or agency fund has been established for the plan; there were no adjustments to the annual
required contribution or interest earnings.
Funded Status and Funding Progress — At September 30, 2015, funded status and funding progress is as
follows (amounts expressed in thousands):
Actuarial
Accrued
Actuarial
Actuarial Liability -
UAAL as a
Valuation
Value of Projected
Unfunded
Funded
Covered
Percentage of
Date
Assets Unit Credit
AAL
Ratio
Payroll
Covered Payroll
10/1/2011
$ - $113,588
$113,588
0%
$67,299
168.78%
10/1/2013
- 97,091
97,091
0%
69,338
140.03%
10/1/2014
- 100,105
100,105
0%
69,338
144.37%
Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and
assumptions about the probability of occurrence of events far into the future. Examples include
assumptions about future employment, mortality, and the healthcare cost trend.
D-22
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 8 — POST EMPLOYMENT BENEFITS OTHER THAN PENSION - (continued)
Amounts determined regarding the funded status of the plan and the annual required contributions of the
employer are subject to continual revision as actual results are compared with past expectations and new
estimates are made about the future. The schedule of funding progress, presented as required
supplementary information following the notes to the financial statements, presents trend information
about whether the actuarial value of plan assets is increasing or decreasing over the time relative to the
actuarial accrued liabilities for benefits.
Schedule of Employer Contributions — At September 30, the annual required contributions (ARC) to the
plan were as follows (amounts expressed in thousands):
Employer Contributiions
Annual
Required
Percentage of
Year Ended Contribution
ARC
September 30 (ARC)
Contributed
2015
$ 6,466
54%
2014
6,240
57%
2013
7,428
48%
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS
Florida Retirement System:
General Information - All of the Board's employees participate in the Florida Retirement System (FRS).
As provided by Chapters 121 and 112, Florida Statutes, the FRS provides two cost sharing, multiple
employer defined benefit plans administered by the Florida Department of Management Services,
Division of Retirement, including the FRS Pension Plan ("Pension Plan") and the Retiree Health
Insurance Subsidy ("HIS Plan"). Under Section 121.4501, Florida Statutes, the FRS also provides a
defined contribution plan ("Investment Plan") alternative to the FRS Pension Plan, which is
administered by the State Board of Administration ("SBA"). As a general rule, membership in the FRS
is compulsory for all employees working in a regularly established position for a state agency, county
government, district school board, state university, community college, or a participating city or special
district within the State of Florida. The FRS provides retirement and disability benefits, annual cost -of -
living adjustments, and death benefits to plan members and beneficiaries. Benefits are established by
Chapter 121, Florida Statutes, and Chapter 605, Florida Administrative Code. Amendments to the law
can be made only by an act of the Florida State Legislature.
D-23
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
The State of Florida annually issues a publicly available financial report that includes financial
statements and required supplementary information for the FRS. The latest available report may be
obtained by writing to the State of Florida Division of Retirement, Department of Management Services,
P.O. Box 9000, Tallahassee, Florida 32315-9000, or from the Web site:
www.dms.myflorida.com/workforce operati ons/retirement/publi cations.
PPncinn Plan
Plan Description — The Pension Plan is a cost -sharing multiple -employer defined benefit pension plan,
with a Deferred Retirement Option Program ("DROP") for eligible employees.
Benefits Provided - Benefits under the Pension Plan are computed on the basis of age, average final
compensation, and service credit. For Pension Plan members enrolled before July 1, 2011, Regular class
members who retire at or after age 62 with at least six years of credited service or 30 years of service
regardless of age are entitled to a retirement benefit payable monthly for life, equal to 1.6% of their final
average compensation based on the five highest years of salary, for each year of credited service.
Vested members with less than 30 years of service may retire before age 62 and receive reduced
retirement benefits. Special Risk Administrative Support class members who retire at or after age 55
with at least six years of credited service or 25 years of service regardless of age are entitled to a
retirement benefit payable monthly for life, equal to 1.6% of their final average compensation based on
the five highest years of salary, for each year of credited service. Special Risk class members (sworn law
enforcement officers, firefighters, and correctional officers) who retire at or after age 55 with at least six
years of credited service, or with 25 years of service regardless of age, are entitled to a retirement benefit
payable monthly for life, equal to 3.0% of their final average compensation based on the five highest
years of salary for each year of credited service. Senior Management Service class members who retire
at or after age 62 with at least six years of credited service or 30 years of service regardless of age are
entitled to a retirement benefit payable monthly for life, equal to 2.0% of their final average
compensation based on the five highest years of salary for each year of credited service. Elected
Officers' class members who retire at or after age 62 with at least six years of credited service or 30
years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to
3.0% (3.33% for judges and justices) of their final average compensation based on the five highest years
of salary for each year of credited service.
For Plan members enrolled on or after July 1, 2011, the vesting requirement is extended to eight years of
credited service for all these members and increasing normal retirement to age 65 or 33 years of service
regardless of age for Regular, Senior Management Service, and Elected Officers' class members, and to
age 60 or 30 years of service regardless of age for Special Risk and Special Risk Administrative Support
class members. Also, the final average compensation for all these members will be based on the eight
highest years of salary.
D-24
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
As provided in Section 121.101, Florida Statutes, if the member is initially enrolled in the Pension
Plan before July 1, 2011, and all service credit was accrued before July 1, 2011, the annual cost -of -
living adjustment is three percent per year. If the member is initially enrolled before July 1, 2011,
and has service credit on or after July 1, 2011, there is an individually calculated cost -of -living
adjustment. The annual cost -of -living adjustment is a proportion of three percent determined by
dividing the sum of the pre -July 2011 service credit by the total service credit at retirement multiplied
by three percent. Plan members initially enrolled on or after July 1, 2011, will not have a cost -of -
living adjustment after retirement.
In addition to the above benefits, the DROP program allows eligible members to defer receipt of
monthly retirement benefit payments while continuing employment with a FRS employer for a period
not to exceed 60 months after electing to participate. Deferred monthly benefits are held in the FRS
Trust Fund and accrue interest. There are no required contributions by DROP participants.
Contributions — Effective July 1, 2011, all enrolled members of the FRS, other than DROP participants,
are required to contribute three percent of their salary to the FRS. In addition to member contributions,
governmental employers are required to make contributions to the FRS based on state-wide contribution
rates established by the Florida Legislature. These rates are updated as of July 1 of each year. The
employer contribution rates by job class for the periods from October 1, 2014 through June 30, 2015 and
from July 1, 2015 through September 30, 2015, respectively, were as follows: Regular7.37% and
7.26%; Special Risk Administrative Support42.07% and 32.95%; Special Risk19.82% and 22.04%;
Senior Management Service21.14% and 21.43%; Elected Officers'43.24% and 42.27%; and DROP
participants12.28% and 12.88%. These employer contribution rates include 1.26% and 1.66% HIS
Plan subsidy for the periods October 1, 2014 through June 30, 2015 and from July 1, 2015 through
September 30, 2015, respectively.
The Board's contributions, including employee contributions, to the Pension Plan totaled $2,558,674 for
the fiscal year ended September 30, 2015.
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions — The Board's governmental funds, which utilize the current resources
measurement basis of accounting, generally recognize pension expense as amounts are paid. Pension
liabilities are recognized at the fund level only to the extent expected to be liquidated with expendable
available financial resources. Amounts associated with long-term pension liabilities and related deferred
outflows of resources and deferred inflows of resources are reported on the government -wide financial
statements of the County, rather than the financial statements of the Board.
D-25
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
The Board's enterprise and internal service funds recognize pension liabilities, pension expense and
deferred outflows of resources and deferred inflows of resources related to pensions on the accrual basis
of accounting. At September 30, 2015, the Board's enterprise and internal service funds reported a
liability of $1,813,690 for their proportionate share of the Pension Plan's net pension liability. The net
pension liability was measured as of June 30, 2015, and the total pension liability used to calculate the
net pension liability was determined by an actuarial valuation as of July 1, 2015. The Board's
proportionate share of the net pension liability was based on the Board's 2014-15 fiscal year
contributions relative to the 2013-14 fiscal year contributions of all participating members. At June 30,
2015, the Board's proportionate share for all funds was .1032 percent, which was a decrease of .0017
percent from its proportionate share measured as of June 30, 2014. Approximately 13.6% of the Board's
proportionate share of the net pension liability was allocated to the enterprise and internal service funds
of the Board based on their proportionate share of the Board's pension plan contributions.
For the fiscal year ended September 30, 2015, the Board's enterprise and internal service funds
recognized pension expense of $108,114. In addition, these activities reported deferred outflows of
resources and deferred inflows of resources related to pensions from the following sources:
Differences between expected and actual experience
Changes of assumptions
Net difference between projected and actual can mgs
on Pension Plan investments
Changes in proportion and differences between Pension
Plan contributions and proportionate share of
contributions
Pension Plan contributions subsequent to the
measurement date
Total
Deferred
Deferred
Outflows of
Inflows of
Resources
Resources
$ 191,472
$ 43,015
120,381
-
-
433,079
- 98,523
84,179
$ 396,032 $ 574,617
The Pension Plan's deferred outflows of resources related to the Board's enterprise and internal service
funds contributions to the Plan subsequent to the measurement date, totaling $84,179, will be recognized
as a reduction of the net pension liability in the fiscal year ended September 30, 2016. Other amounts
reported as deferred outflows of resources and deferred inflows of resources related to the Pension Plan
will be recognized in pension expense of the enterprise and internal service funds as follows:
D-26
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
Year ended June 30:
Amount
2016
$ (229,544)
2017
(229,544)
2018
(229,544)
2019
342,094
2020
66,433
Thereafter
17,341
Total $ (262,764)
Actuarial Assumptions — The total pension liability in the June 30, 2015 actuarial valuation was
determined using the following actuarial assumption, applied to all period included in the measurement:
Inflation 2.60 %
Salary increases 3.25%, average, including inflation
Investment rate of return 7.65%, net of pension plan investment
expense, including inflation
Mortality rates were based on the Generational RP-2000 with Projection Scale BB tables.
The actuarial assumptions used in the July 1, 2015, valuation were based on the results of an actuarial
experience study for the period July 1, 2008 through June 30, 2013.
The long-term expected rate of return on Pension Plan investments was not based on historical returns,
but instead is based on a forward -looking capital market economic model. The allocation policy's
description of each asset class was used to map the target allocation to the asset classes shown below.
Each asset class assumption is based on a consistent set of underlying assumptions and includes an
adjustment for the inflation assumption. The target allocation and best estimates of arithmetic and
geometric real rates of return for each major asset class are summarized in the following table:
D-27
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
Asset Class
Target
Allocation (1)
Compound
Annual Annual
Arithmetic (Geometric)
Return Return
Standard
Deviation
Cash
1%
3.2%
3.1%
1.7%
Fixed Income
18%
4.8%
4.7%
4.7%
Global Equity
53%
8.5%
7.2%
17.7%
Real Estate (Property)
10%
6.8%
6.2%
12.0%
Private Equity
6%
11.9%
8.2%
30.0%
Strategic Investments
12%
6.7%
6.1%
11.4%
Total
100%
Assumed Inflation - Mean
2.6%
1.9%
(1) As outlined in the Pension Plan's investment policy
Discount Rate - The discount rate used to measure the total pension liability was 7.65%. The Pension
Plan's fiduciary net position was projected to be available to make all projected future benefit payments
of current active and inactive employees. Therefore, the discount rate for calculation of the total pension
liability is equal to the long-term expected rate of return.
Sensitivitv of the Board's Proportionate Share of the Net Position Liabilitv to Chances in the Discount
Rate — The following represents the Board's enterprise and internal service funds proportionate share of
the net pension liability calculated using the discount rate of 7.65%, as well as what the proportionate
share of the net pension liability would be if it were calculated using a discount rate that is one
percentage point lower (6.65%) or one percentage point higher (8.65%) than the current rate:
Current Discount
1% Decrease Rate 1% Increase
(6.65%) (7.65%) (8.65%)
Enterprise and internal service
funds proportionate share
of the Net Pension Plan liability $ 4,699,681 $ 1,813,690 $ (587,929)
Pension Plan Fiduciary Net Position — Detailed information regarding the Pension Plan's fiduciary net
position is available in the separately issued FRS Pension Plan and Other State -Administered Systems
Comprehensive Annual Financial Report.
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
HIS Plan
Plan Description — The HIS Plan is a cost -sharing multiple -employer defined benefit pension plan
established under Section 112.363, Florida Statutes, and may be amended by the Florida legislature at
any time. The benefit is a monthly payment to assist retirees of State -administered retirement systems in
paying their health insurance costs and is administered by the Florida Department of Management
Services, Division of Retirement.
Benefits Provided — For the fiscal year ended September 30, 2015, eligible retirees and beneficiaries
received a monthly HIS payment of $5 for each year of creditable service completed at the time of
retirement, with a minimum HIS payment of $30 and a maximum HIS payment of $150 per month. To
be eligible to receive these benefits, a retiree under a State -administered retirement system must provide
proof of health insurance coverage, which may include Medicare.
Contributions — The HIS Plan is funded by required contributions from FRS participating employers as
set by the Florida Legislature. Employer contributions are a percentage of gross compensation for all
active FRS members. For the fiscal year ended September 30, 2015, the HIS contribution for the period
October 1, 2014 through June 30, 2015 and from July 1, 2015 through September 30, 2015 was 1.26%
and 1.66%, respectively. The Board contributed 100% of its statutorily required contributions for the
current and preceding three years. HIS Plan contributions are deposited in a separate trust fund from
which payments are authorized. HIS Plan benefits are not guaranteed and are subject to annual
legislative appropriation. In the event legislative appropriation or available funds fail to provide full
subsidy benefits to all participants, benefits may be reduced or cancelled.
The Board's contributions to the HIS Plan totaled $388,618 for the fiscal year ended September 30,
2015.
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions — The basis of accounting and financial reporting of the Board's HIS Plan
is identical to that of the Board's Pension Plan. At September 30, 2015, the Board's enterprise and
internal service funds reported a liability of $1,464,708 for their proportionate share of the Board's HIS
Plan's net pension liability. The net pension liability was measured as of June 30, 2015, and the total
pension liability used to calculate the net pension liability was determined by an actuarial valuation as of
July 1, 2015. The Board's proportionate share of the net pension liability was based on the Board's
2014-15 fiscal year contributions relative to the 2013-14 fiscal year contributions of all participating
members. At June 30, 2015, the Board's proportionate share of all funds was .0939 percent, which was
an increase of .0002 percent from its proportionate share measured as of June 30, 2014. Approximately
15.3% of the Board's proportionate share of the net pension liability was allocated to the enterprise and
internal service funds of the Board based on their proportionate share of the Board's HIS Plan
contributions.
D-29
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
For the fiscal year ended September 30, 2015, the Board's enterprise and internal service funds
recognized pension expense of $112,364. In addition, these activities reported deferred outflows of
resources and deferred inflows of resources related to pensions from the following sources:
Deferred
Outflows of
Resources
Changes of assumptions
$ 115,235
Net difference between projected and actual earnings
on HIS Plan investments
793
Changes in proportion and differences between HIS
Plan contributions and proportionate share of
contributions
17,186
HIS Plan contributions subsequent to the measurement
date
17,041
Total
$ 150,255
The deferred outflows of resources related to the HIS Plan resulting from the Board's enterprise and
internal service funds contributions to the HIS Plan subsequent to the measurement date, totaling
$17,041, will be recognized as a reduction of the net pension liability in the fiscal year ended September
30, 2016. Other amounts reported as deferred outflows of resources related to the HIS Plan will be
recognized as pension expense in the enterprise and internal service funds as follows:
Year ended June 30: Amount
2016 $ 23,040
2017
2018
2019
2020
Thereafter
Total
D-3 0
23,040
23,040
22,855
22,767
18,472
$ 133,214
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
Actuarial Assumptions — The total pension liability in the July 1, 2015, actuarial valuation was
determined using the following actuarial assumptions, applied to all periods included in the
measurement:
Inflation 2.60 %
Salary increases 3.25%, average, including inflation
Municipal bond rate 3.80 %
Mortality rates were based on the Generational RP-2000 with Projection Scale BB tables.
The actuarial assumptions used in the July 1, 2015, valuation were based on the results of an actuarial
experience study for the period July 1, 2008 through June 30, 2013.
Discount Rate — The discount rate used to measure the total pension liability was 3.80%. In general, the
discount rate for calculating the total pension liability is equal to the single rate equivalent to discounting
at the long-term expected rate of return for benefit payments prior to the projected depletion date.
Because the HIS benefit is essentially funded on a pay-as-you-go basis, the depletion date is considered
to be immediate, and the single equivalent discount rate is equal to the municipal bond rate selected by
the HIS Plan sponsor. The Bond Buyer General Obligation 20-Bond Municipal Bond Index was adopted
as the applicable municipal bond index.
Sensitivitv of the Board's Proportionate Share of the Net Position Liabilitv to Chances in the Discount
Rate - The following represents the Board's enterprise and internal service funds proportionate share of
the net pension liability calculated using the discount rate of 3.80%, as well as what the proportionate
share of the net pension liability would be if it were calculated using a discount rate that is one
percentage point lower (2.80%) or one percentage point higher (4.80%) than the current rate:
Current Discount
1 % Decrease Rate 1 % Increase
(2.80%) (3.80%) (4.80%)
Enterprise and internal service
funds proportionate share
of the Net HIS Plan liability $ 1,668,975 $ 1,464,708 $ 1,294,394
Pension Plan Fiduciary Net Position — Detailed information regarding the HIS Plan's fiduciary net
position is available in the separately issued FRS Pension Plan and Other State -Administered Systems
Comprehensive Annual Financial Report.
D-31
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
Investment Plan
The SBA administers the defined contribution plan officially titled the FRS Investment Plan. The
Investment Plan is reported in the SBA's annual financial statements and in the State of Florida
Comprehensive Annual Financial Report.
As provided in Section 121.4501, Florida Statutes, eligible FRS members may elect to participate in the
Investment Plan in lieu of the FRS defined benefit plan. County employees participating in DROP
are not eligible to participate in the Investment Plan. Employer and employee contributions, including
amounts contributed to individual member's accounts, are defined by law, but the ultimate benefit
depends in part on the performance of investment funds. Benefit terms, including contribution
requirements, for the Investment Plan are established and may be amended by the Florida
Legislature. The Investment Plan is funded with the same employer and employee contribution rates
that are based on salary and membership class (Regular Class, Elected County Officers, etc.), as the
Pension Plan. Contributions are directed to individual member accounts, and the individual members
allocate contributions and account balances among various approved investment choices. Costs of
administering the Investment Plan, including the FRS Financial Guidance Program, are funded through
an employer contribution of 0.04 percent of payroll and by forfeited benefits of plan members.
Allocations to the investment member's accounts during the 2014-15 fiscal year, as established by
Section 121.72, Florida Statutes, are based on a percentage of gross compensation, by class, as follows:
Regular class 6.30%, Special Risk Administrative Support class 7.95%, Special Risk class 14.00%,
Senior Management Service class 7.67% and County Elected Officers class 11.34%.
For all membership classes, employees are immediately vested in their own contributions and are
vested after one year of service for employer contributions and investment earnings. If an
accumulated benefit obligation for service credit originally earned under the Pension Plan is
transferred to the Investment Plan, the member must have the years of service required for Pension
Plan vesting (including the service credit represented by the transferred funds) to be vested for these
funds and the earnings on the funds. Nonvested employer contributions are placed in a suspense account
for up to five years. If the employee returns to FRS -covered employment within the five-year period,
the employee will regain control over their account. If the employee does not return within the five-
year period, the employee will forfeit the accumulated account balance. For the fiscal year ended
September 30, 2015, the information for the amount of forfeitures was unavailable from the SBA;
however, management believes that these amounts, if any, would be immaterial to the Board.
After termination and applying to receive benefits, the member may rollover vested funds to
another qualified plan, structure a periodic payment under the Investment Plan, receive a lump -sum
distribution, leave the funds invested for future distribution, or any combination of these options.
Disability coverage is provided; the member may either transfer the account balance to the Pension
Plan when approved for disability retirement to receive guaranteed lifetime monthly benefits under
the Pension Plan, or remain in the Investment Plan and rely upon that account balance for retirement
income.
D-32
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
The Board's Investment Plan pension expense totaled $512,499 for the fiscal year ended September 30,
2015.
NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY
MEDICAL SERVICES
General Information about the Pension Plan
Plan Description — The Monroe County, Florida Volunteer Firefighter and Emergency Medical Services
Length of Service Award Plan (LOSAP) is a single -employer public employee retirement system
defined benefit pension plan created in 1999 and 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 Board. LOSAP shall be administered in accordance with the requirements of
Chapter 112, Part VII, Florida Statutes.
Benefits Provided — Only Volunteer Firefighters and EMS Volunteers are eligible at the sole discretion
of the Plan Administrator. Any Volunteer who was age 60 or older on January 1, 1999 shall not be
eligible to participate. In addition, any Volunteers who are age 60 or older at the time they commence
volunteer service, or who commence service at a time that will not permit them to earn ten Years of
Service by their Normal Retirement Age shall not be eligible to participate in this Plan.
Volunteer Firefighters must attain the rank of Structural Firefighter, Non -Structural Firefighter and or
Emergency Vehicle Driver -Operator prior to being credited with ten Years of Service. EMS Volunteers
must meet all requirements as defined by the State of Florida necessary to drive an emergency medical
care and transportation vehicle (ambulance) and/or attain certification as an Emergency Medical
Technician or Paramedic prior to being credited with ten Years of Service. Eligibility for vesting is
completion of 10 years of service. The Plan shall be administered in accordance with the requirements
of Chapter 112, Part VU, Florida Statutes.
Each year of volunteer service, a participant will accrue a year of benefit accrual if the participant was
enrolled as a member of the nonprofit corporation or MSTU and was eligible for and received
reimbursement of expenses for nine or more months of the year. Volunteers are vested after completion
of ten years of service prior to attainment of normal retirement age. Eligible volunteers can receive an
annual benefit of $1,800 for 10 years of service up to $4,500 for 25 years of service.
Employees Covered by Benefit Terms - LOSAP had 64 participants of which 10 are active, 42 are
inactive and 12 are retired members for the plan year ended December 31, 2014 and the County's fiscal
year ending September 30, 2015. Separate, stand-alone financial statements for LOSAP are not
provided.
D-3 3
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY
MEDICAL SERVICES (continued)
Contributions - Contributions and benefits are calculated based on years of service as the participants are
unpaid volunteers. As a result, there are no related covered payroll and no UALL as a percentage of
covered payroll.
For each Plan Year, the Board shall appropriate funds from the budgets of the various fire/rescue
MSTU's, such funds to be applied as a contribution to the LOSAP trust account in an amount as
determined by the Plan Administrator as is necessary to fund the accrued or prospective benefits for
Participants on an actuarially sound basis and in accordance with Part VII of Chapter 112, Florida
Statutes. There are no Participant contribution requirements. The authority under which those
obligations are established is the Monroe County Ordinance No. 026-1999.
Net Pension Liability
The Board's net pension liability was measured as of December 31, 2014, and the total pension liability
used to calculate the net pension liability was determined by an actuarial valuation as of that date.
Actuarial Assumptions — The significant actuarial assumptions used to compute the pension benefit
obligation in the December 31, 2014 valuation for the period of January 1, 2015 through December 31,
2015 were:
1. Investment Yield: 1.0% for both present and future
2. Mortality Pattern: Not applicable
3. Salary increases: Not applicable; Benefits not based on salary
4. Termination: Godwin's Table 1, V Select & Ultimate Table, with 50% termination prob. for
YOS<1
5. Inflation: No increase as benefits are based on a flat amount per year of service
The projection of cash flows used to determine the discount rate assumed that plan member
contributions will be made at the applicable current contribution rates and that County contribution will
be made at rates equal to the difference between actuarially determined contributions and member
contributions. Based on those assumptions, the fiduciary net position for the LOSAP pension plans was
projected to be available to make all projected future benefit payments of current plan members.
Therefore, the long-term expected rate of return on LOSAP's investments was applied to all periods of
projected benefit payments to determine the total pension liability for each plan.
Summary of Significant Accounting Policies — The financial statements of LOSAP are prepared using
the accrual basis of accounting. The contributions are recognized when due. Benefits are recognized
when due and payable in accordance with the terms of LOSAP. Administrative costs are paid by the
Board. Actuarial valuation costs are paid by LOSAP. All plan investments are reported at fair value.
The resources in the LOSAP fund have been set aside to pay future obligations of the LOSAP but are
not held in a trust that meets the criteria outlined in GASB Statement No. 67, paragraph 3 and GASB
Statement No. 68, paragraph 4.
D-34
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY
MEDICAL SERVICES (continued)
Investments — Investments are pooled with all County investments and are held in accordance to the
investment policy included in Note 1. All plan investments consist of U.S. Government and U.S.
Government -guaranteed obligations which represent more than 5.0% of the net assets available for
benefits. There are no investments in, loans to or leases with any public employee retirement system
official, government employer official, party related to a public employee retirement system official or
government employer official, nonemployee contributor, or organization included in the reporting entity.
Discount Rate - The discount rate used to measure the total pension liability was 1.00 percent (a
decrease 0.5% from the prior measurement period). The projection of cash flows used to determine the
discount rate assumed that employee contributions will be made at the current contribution rate and that
the Board's contributions will be made at rates equal to the difference between actuarially determined
contribution rates and the employee rate. Based on those assumptions, the pension plan's fiduciary net
position was projected to be available to make all projected future benefit payments of current active and
inactive employees. Therefore, the long-term expected rate of return on pension plan investments was
applied to all periods of projected benefit payments to determine the total pension liability.
Changes in Net Pension Liability
Balances at 12/31/13
Changes forthe year:
Service cost
Interest
Differences between expected and actual experience
Contributions -employer
Net investment income
Benefit payments, including refinxls of employee
contributions
Net changes
Balances at 12/31/14
Increase (Decrease)
Total Pension Plan Fiduciary Net Net Pension
Liability Position Liability
(a) (b) (a) - (b)
$ 804,285 $ 857,126 $ (52,841)
16,455 - 16,455
8,054 - 8,054
89,397 - 89,397
- 28,575 (28,575)
2,591 (2,591)
(30,855) (30,855) -
83,051 311 82,740
$ 887,336 $ 857,437 $ 29,899
Sensitivity of the net pension liability to changes in the discount rate - The following presents the net
pension liability (asset) of LOSAP, calculated based on GASB Statement No. 67 using the current
discount rate, as well as what the Board's net pension liability would be if it were calculated using a
discount rate that is 1-percentage point lower or 1-percentage point higher than the current rate.
D-3 5
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY
MEDICAL SERVICES (continued)
1% Current
Decrease Discount Rate 1% Increase
Discount Rate 0% 1% 2%
Net pension liability (asset) $ 122,024 $ 29,899 $ (49,837)
Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related
to Pensions
For the year ended September 30, 2015, the Board recognized pension expense of $30,855. At
September 30, 2015, the Board reported deferred outflows of resources and deferred inflows of
resources related to pensions from the following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Net difference between projected and actual earnings on pension plan investments $ 627 $ -
NOTE 11— CAPITAL AND OTHER SIGNIFICANT COMMITMENTS
Construction projects and significant commitments, excluding encumbrances reported below, under
present contractual agreements as of September 30, 2015 are as follows:
Cudjoe Regional Wastewater
$ 61,445,366
North Key Largo Utility Project
1,498,687
Key West Senior Center
414,656
No Name Key Bridge Repairs
1,245,873
Crawl Key Fire Training
1,570,747
Plantation Key Courthouse & Detention Center
959,338
CR8905 Bike Path
516,789
Key Largo Road and Drain
296,457
Higgs Beach --Atlantic Boulevard
298,351
Traffic Monitoring
276,945
Card Sound Toll Road Plan
184,907
Marathon Airport Customs
168,404
EMAS Key West Airport
107,246
Others (less than $100,000)
436,486
Total
$ 69,420,252
D-3 6
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 11— CAPITAL AND OTHER SIGNIFICANT COMMITMENTS - (Continued)
The entire construction costs of the Cudj oe Regional Wastewater project are estimated at $196.53
million. There is an interlocal agreement between the County and the Florida Keys Aqueduct Authority
(FKAA) for this project. The County obtained partial funding through grants, the issuance of revenue
notes backed by the pledge of the infrastructure sales surtax, State of Florida clean water revolving loan
and wastewater special assessments to provide funding to FKAA for the administration, planning and
construction of wastewater projects.
Significant encumbrance commitments at September 30, 2015 are as follows:
Governmental Activities:
General Fund
Governmental Grants Fund
One Cent Infrastructure Surtax
Cudjoe Regional Wastewater
Nonmajor Governmental Funds
Total Governmental Activities
Business -Type Activities:
Municipal Sry District Waste
Key West Airport
Marathon Airport
Passenger Facility Charge
Total Business -Type Activities
Total Encumbrances
D-3 7
Fnn imhmnce
$ 207,010
980,329
77,040
2,595,495
868,021
4,727,895
192,324
162,531
168,950
5,416
529,221
$ 5,257,116
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 12 — LEASE OBLIGATIONS
Rental expense under cancelable operating leases for the current year amounted to $1,184,746.
NOTE 13 - LONG-TERM DEBT
Long-term debt activity for the year ended September 30, 2015 is as follows:
Current Portion
of Long-term
Beginning Balances
Additions
Payments
Ending Balances
Liabilities
Governmental Activities:
Revenue bonds payable
$ 20,418,912
$ 31,907,406
$ 10,746,091
$ 41,580,227
$ 3,796,091
Revenue notes payable*
41,458,400
18,474,769
452,352
59,480,817
464,694
Line of Credit
-
16,000,000
-
16,000,000
-
Mayfield Agreement (KLWTD)
-
15,566,220
-
15,566,220
1,000,000
Accrued comp. absences
3,131,358
1,944,781
1,886,468
3,189,671
637,934
OPEB Liability
32,660,517
6,426,558
2,763,589
36,323,486
-
Pension Liability
13,484,787
9,427,633
2,539,568
20,372,852
-
Total GovernmentalActivities
$ 111,153,974
$ 99,747,367
$ 18,388,068
$ 192,513,273
$ 5,898,719
Business -type Activities
Landfill Closure Costs
$ 171,563
$ 2,402
$ -
$ 173,965 $ -
Accrued comp. absences
403,903
231,111
284,136
350,878 70,176
OPEB Liability
1,703,251
274,000
200,251
1,777,000 -
Pension Liability
1,678,882
1,172,692
323,605
2,527,969 -
Capitalized Lease Obligations
467,270
-
467,270
- -
Total Business -type Activities
$ 4,424,869
$ 1,680,205
$ 1,275,262
$ 4,829,812 $ 70,176
Total Long -Tenn Debt
$ 115,578,843
$101,427,572
$ 19,663,330
$ 197,343,085 $ 5,968,895
*Additions includes capitalized interest
Amounts associated with the Board's governmental activities long-term liabilities are reported on the
government -wide financial statements of the County rather than on the financial statements of the
Board. Amounts associated with the Board's business -type activities and internal service funds long-
term liabilities are reported on the proprietary fund financial statements of the Board. 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.
Governmental activities' compensated absences are liquidated by the funds to which the related
employee services relate.
IM
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 13 - LONG-TERM DEBT - (continued)
The Group Insurance Internal Service Fund assesses a monthly premium per employee in each fund.
The monthly premiums paid by the various funds provide the resources necessary to liquidate the other
postemployment benefit obligations paid in the current year by the Group Insurance Internal Service
Fund.
The current portion of the post closure maintenance liability is expected to be insignificant and will be
funded by the County's operations budget instead of the related escrow funds required by federal and
state laws. Accordingly, the entire post closure maintenance liability is classified as long-term.
The following is a summary of the Board's bonds and notes as of September 30, 2015:
Governmental Activities
Revenue Bonds
Infrastructure Sales Surtax Revenue Bonds, Series 2007 $ 9,930,000
Infrastructure Sales Surtax Revenue Bonds, Series 2014 31,385,000
Unamortized Original Issue Premium, Series 2007 265,227
Total Revenue Bonds 41,580,227
Revenue Notes:
Clean Water State Revolving Fund Construction Loan Agreement 2010 8,131,775
Clean Water State Revolving Fund Construction Loan Agreement 2014 51,349,042
Total Revenue Notes 59,480,817
Mayfield Agreement - Key Largo Wastewater Treatment District 15,566,220
Line of Credit 16,000,000
Total Governmental Debt $132,627,264
D-3 9
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 13 - LONG-TERM DEBT - (continued)
Debt Service Funding Requirements - The total annual debt service requirements for bonds and notes
outstanding at September 30, 2015 are as follows:
Governmental Activities
Principal
Interest
Total
2016
$ 5,154,694
$ 1,855,504
$ 7,010,198
2017
8,765,563
1,333,844
10,099,407
2018
10,354,926
1,912,221
12,267,147
2019
7,937,859
1,603,180
9,541,039
2020
8,175,362
1,368,636
9,543,998
2021-2025
37,753,850
2,915,506
40,669,356
2026-2030
2,870,741
98,901
2,969,642
Total Required Debt Service 81,012,995 $ 11,087,792 $ 92,100,787
2014 Clean Water State Revolving Fund
Construction Loan Agreement* 51,349,042
Unamortized Original Issue Premium
on Series 2007 Bonds 265,227
Total Governmental Debt $ 132,627,264
*2014 CW SRF notes are still in the drawdrown process. No debt service is required as of September 30, 2015.
Long -Term Debt at September 30, 2015 is composed of the following issues:
$21,455,000 Infrastructure Sales Surtax Revenue Bonds, Series 2003
• Amount outstanding at September 30th: $0
• Refunded by: Florida Infrastructure Sales Surtax Improvement and Refunding Revenue Bonds,
Series 2014
• For the fiscal year, principal and interest paid was $7,097,181
$29,415,000 Infrastructure Sales Surtax Revenue Bonds, Series 2007
• Type: General Government Revenue Bonds
• Dated: November 2007
• Final maturity: Year 2018
• Principal payment date: April 1
• Interest payment dates: April 1 and October 1
• Interest rates: 4.0% to 5.0%
• Amount outstanding at September 30th: $9,930,000
• Reserve requirement: None; MBIA insured.
D-40
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 13 - LONG-TERM DEBT - (continued)
• Revenue pledged: All of the One Cent Local Government Infrastructure Sales Surtax accruing to
Monroe County. The total principal and interest remaining to be paid is $10,903,850. For the
fiscal year, principal and interest paid was $3,373,900 and total pledged revenue was
$20,161,451.
• Purpose: To construct and acquire equipment and capital improvements.
• Call provisions: None
$31,885,000 Florida Infrastructure Sales Surtax Improvement and Refunding Revenue Bonds, Series
2014
• Type: General Government Revenue Bonds
• Dated: October 2014
• Final maturity: Year 2024
• Principal payment date: April 1
• Interest payment dates: April 1 and October 1
• Interest rate: 2.36%
• Amount outstanding at September 30th: $31,385,000
• Reserve requirement: None; MBIA insured.
• Revenue pledged: All of the One Cent Local Government Infrastructure Sales Surtax accruing to
Monroe County. The total principal and interest remaining to be paid is $35,494,704. For the
fiscal year, principal and interest paid was $834,438 and total pledged revenue was $20,161,451.
• Purpose: To construct and acquire equipment and capital improvements.
• Call provisions: None
$19,500,540 Clean Water State Revolving Fund Construction Loan Agreement
• Type: General Government Revenue Notes
• Dated: April 2010
• Final maturity: Year 2030
• Principal payment date: March 15 and September 15
• Interest payment dates: March 15 and September 15
• Interest rate: 2.71%
• Amount outstanding at September 30th: $8,131,775
• Reserve requirement: None
• Revenue pledged: Non -Ad Valorem Revenues in the General Fund, the Fine and Forfeiture
Fund, and the Unincorporated Area Service District Funds. The total principal and interest
remaining to be paid is $9,009,853. For the fiscal year, principal and interest paid was $681,938
and total pledged revenue was $29,725,045.
• Purpose: Refund temporary financing for wastewater capital improvements.
• Call provisions: None
D-41
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 13 - LONG-TERM DEBT - (continued)
Clean Water State Revolving Fund Construction Loan Agreement
• The State awarded a total of $101,000,000 (original award plus three amendment awards) for
collection, transmission and treatment facilities under the State Revolving Fund loan program.
During the year ended September 30, 2015, loan draws of $17,523,262 were received and
accumulated interest of $951,507 capitalized resulting in an outstanding loan balance as of
September 30, 2015 of $51,349,042.
• Interest rate: various interest rates (2.39% - 3.07%) as of September 30, 2015
• Final maturity and payment: Details to be determined upon completion of draw process
• Reserve requirement: None
• Revenue pledged: One Cent Local Government Infrastructure Sales Surtax and Cudjoe Regional
Wastewater special assessments. For the fiscal year, there were no principal and interest
payments made as the loan was still in the draw process and total pledged revenue was
$22,692, 5 84.
• Purpose: Financing for wastewater capital improvements.
• Call provisions: None
16,000,000 Line of Credit
• Type: Line of Credit
• Dated: October 2014
• Final maturity: Year 2024
• Principal payment date: April 1
• Interest payment dates: April 1
• Interest rate: WSJ Prime plus 4% (7.25% as of 9/30/2015)
• Amount outstanding at September 30th: $16,000,000
• Reserve requirement: None
• Revenue pledged: One Cent Local Government Infrastructure Sales Surtax. For the fiscal year,
interest paid was $43,117 and total pledged revenue was $20,161,451.
• Purpose: Capital improvements with respect to Cudjoe Regional Wastewater Project
• Call provisions: None
$15,566,220 Mayfield Interlocal Agreement
• Type: Inter -local Agreement
• Dated: May 2015
• Final maturity: Year 2026
• Principal payment date: April 1
• Interest payment dates: April 1
• Interest rate: N/A
• Amount outstanding at September 30th: $15,566,220
• Reserve requirement: None
D-42
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 13 - LONG-TERM DEBT - (continued)
• Revenue pledged: One Cent Local Government Infrastructure Sales Surtax. The total principal
remaining to be paid is $15,566,220. For the fiscal year, total pledged revenue was $20,161,451.
• Purpose: Capital improvements with respect to Cudj oe Regional Wastewater Project
• Call provisions: None
• See Note 14 for additional information related to this agreement.
Current Refunding of Bonds
During fiscal year 2015, the Board issued $31,885,000 in Infrastructure Sales Surtax Improvement and
Refunding Bonds with an interest rate of 2.36%. A portion of the proceeds were used to refund
$7,060,000 of the outstanding 2003 Infrastructure Sales Surtax Revenue Bonds which had interest rates
ranging from 3.7% to 4.0%. The net proceeds of $7,120,000 (including interest of $37,181 and after
payment of $22,819 in issuance costs) were deposited in an irrevocable trust with an escrow agent to
provide funds for the future redemption on the refunded bonds. As a result, the 2003 Infrastructure Sales
Surtax Revenue Bonds are considered defeased and the liability for those bonds have been removed
from the statement of net position.
The reacquisition price equaled the net carrying amount of the old debt. As a result, the Board did
not record a deferred charge in the Statement of Activities. The Board refunded the 2003 bonds to
reduce its total debt service payments over 4 years by $170,375 (difference between the present values
of the debt service payments on the old and new debt).
NOTE 14 — INTERLOCAL AGREEMENT EXPENSE
Administered by the Florida Department of Environmental Protection (DEP), the Mayfield Grant is the
result of the State of Florida authorizing up to $200 million in grant funding to assist the Keys'
wastewater entities to complete central sewer and related projects.
In May 2015, Monroe County and Key Largo Wastewater Treatment District (KLWTD) entered into an
"inter -local agreement" (ILA) whereby KLWTD "assigned" its Mayfield grant allocation funding to
Monroe County in exchange for the County repaying those funds over a 10 year period.
As a result of the signed ILA between Monroe County and KLWTD, Florida Department of
Environmental Protection (DEP) sent Monroe County an amendment to the Mayfield Grant to add the
$17 million reallocated funds to the grant agreement between DEP and Monroe County. The
amendment: (1) provided the County an additional $17 million in Mayfield grant funding; (2)
reallocated the project budget; and (3) extended the date of the completion of the project.
D-43
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 14 — INTERLOCAL AGREEMENT EXPENSE — (continued)
The ILA created a transaction with two separate parts 1) a grant between DEP and Monroe County and
2) a long-term liability payable to KLWTD from Monroe County. For part one, Monroe County
recorded grant revenue which was a reimbursement for capital expenditures already incurred in the
Cudjoe Regional Wastewater fund. For part two, the County recorded a long-term liability on the
government -wide financial statements, which represents funding the County is obligated to pay
KLWTD as a result of the ILA. The offset to this liability was an interlocal agreement expense which
represents the value of Monroe County's "right" to receive the Mayfield Grant revenue forfeited by
KLWTD.
NOTE 15 — 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 Middle Keys, Inc. to
provide for the refinancing of certain outstanding indebtedness of the corporation and for financing
certain capital improvements to the corporation's 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.
City of South Miami Health Facilities Authority Hospital Revenue Bonds, Series 2007 - On April 18,
2007, the Board approved an interlocal agreement with the City of South Miami Health Facilities
Authority for the issuance of $800,000,000 of tax-free bonds for Mariner's Hospital (Baptist Health
South) for the purpose of financing capital improvements to health care facilities and refund outstanding
bonds. The facilities will be owned by the issuers of the bonds and the Board is not obligated in any
way for the repayment of the bonds. Monroe County was part of a group consisting of the State of
Florida and other units of local government that participated to establish the tax-free status of the bonds.
Accordingly, the bonds are not reported as liabilities in the accompanying financial statements.
Maturity of the Series 2007 Bonds is August 15, 2042.
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 16 — 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
Board obtains updated and revised estimates of total future closure and post closure costs from its
engineers.
All amounts recognized are based upon what it would cost to perform closure and post closure 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 Board's previously operated landfills, which include Cudjoe Key,
Long Key, and Key Largo, are 100% used and have no remaining landfill life. Closure of these landfills
was substantially completed during the year ended September 30, 1994. During the prior year, the
County requested and FDEP agreed to early release of all long term care requirements for the Key Largo
and Long Key landfills. The Board also has a landfill site at Cudjoe Key which has never been used and
the County does not presently intend to use.
Accordingly, no future closure cost is accruable except for post closure costs estimated to be incurred in
the coming year for Cudjoe Key. At September 30, 2015, the estimated future cost for post closure
maintenance was $173,965.
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 Board to fund
closure, and post closure costs as an operating expense using annual appropriations. Since the current
portion of the post closure maintenance liability is expected to be insignificant and will be funded by the
County's operations budget, the entire post closure maintenance liability is classified as long-term.
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. During the year, additional funding of
$23,800 and investment earnings of $162 were added to the escrow account. In accordance with laws
and regulations, the landfill had cash and investments of $1,750,629 held for these purposes at
September 30, 2015. 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.
D-45
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 17 - INTERFUND BALANCES
The Board pools cash resources of its various funds to facilitate the management of cash. Cash
applicable to a particular fund is readily identifiable. The balance in the pooled cash accounts is
available to meet current operating requirements. Negative balances incurred in pooled cash at year-end
are treated as interfund receivables of the receiving funds and interfund payables of the deficit funds as
presented below:
Receivable Fund
Payable Fund
General Fund Fine and Forfeiture
Key West Airport
Governmental Grants
Fine and Forfeiture
Nonmajor Governmental
Card Sound Bridge
Marathon Airport
Municipal Svc District Waste
Group Insurance
Fleet Management
Nonmajor Governmental
Cudjoe Regional Waste Water
Cudjoe Regional Waste Water
General Fund
Nonmajor Governmental
k
Amount
2,135,915
1,205,584
114,570
99
93
335
30
175
1,524,701
2,826,966
33,459
4,737
38,617
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 18 - INTERFUND TRANSFERS
Interfund transfers at September 30, 2015 are as follows:
Transfers to General Fund from:
One Cent Infrastructure Surtax Fund
$ 178,428
Card Sound Road Fund
149,693
Municipal Service District -Waste
263,190
Internal Service Funds
579,520
Marathon Airport
50,153
Key West Airport
331,280
Nonmajor Governmental Funds
3,416,115
Total
4,968,379
Transfers to Governmental Grants Fund from:
General Fund
245,783
Fine & Forfeiture Fund
15,746
One Cent Infrastructure Surtax Fund
100,000
Nonmajor Governmental Funds
1,148,065
Total
1,509,594
Transfers to Cudjoe Regional Wastewater Project from:
Nonmajor Governmental Funds
16,000,000
Transfers to Debt Service Fund from:
One Cent Infrastructure Surtax Fund
4,828,981
Big Coppitt Wastewater Project Fund
681,938
Total
5,510,919
Transfers to Nonmajor Governmental Funds from:
General Fund
2,000
Transfers to Marathon Airport Fund from:
PFC & Oper Restrictions
209,379
Key West Airport Fund
1,050
210,429
Transfers to Key West Airport Fund from:
PFC & Oper Restrictions 4,525,358
Total Interfund Transfers
D-47
$ 32,726,679
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 18 - INTERFUND TRANSFERS — (continued)
The One Cent Infrastructure Surtax Fund, a major fund, transferred $4,828,981 to the Debt Service Fund
to repay long-term debt. Similarly, the Big Coppitt Wastewater Project Fund transferred $681,938 to the
Debt Service Fund for repayment of debt for this project.
The Cudj oe Regional Wastewater Project Fund received a transfer for $16 million from a line of credit
draw in the Series 2014 Revenue Bonds Fund. These funds were dedicated to capital improvements of
the Cudj oe Regional Wastewater Project.
Transfers to the Government Grants Fund of $1,509,594 represent funds needed to meet match
requirements of Monroe County's various grants.
The General Fund transferred $2,000 to the Special Miscellaneous Revenue fund to support the Legal
Scholarship Program.
The Passenger Facilities Charges (PFC) Fund transferred PFC receipts to the Marathon Airport Fund in
the amount of $209,379 and to the Key West International Airport in the amount of $4,525,358 to fund
approved projects by the Federal Aviation Administration (FAA). Among the FAA -approved projects
were the design and construction of a commercial apron, airport access road, airport drainage,
engineered material arresting system (EMAS), and the purchase of a runway sweeper, rotating beacon
and aircraft rescue and firefight equipment. In addition, $1,050 was transferred from the Key West
International Airport Fund to the Marathon Airport Fund for the transfer of fixed assets.
The remaining transfers are related to supporting the County's operations.
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 19 — GOVERNMENTAL FUND BALANCE CLASSIFICATIONS
Fund Balances are presented in the following categories; nonspendable, restricted, committed, assigned
and unassigned (see Note 1 for a description of these categories). A detailed schedule of governmental
fund balances at September 30, 2015 is presented below:
One Cent
Governmental
Infrastructure
General
Fine & Forfeiture
Grants
Surtax
Fund Balances:
Nonspendable:
Inventory
$ 3,870
$ -
$ -
$ -
Total Nonspendable
3,870
-
-
-
Restricted for:
Law Enforcement
-
14,342,587
-
-
Fire & Ambulance
-
-
-
-
Public Safety
-
-
-
-
Physical Environment
-
-
-
-
Transportation
-
-
-
-
Housing Programs
-
-
-
-
Tourist Development
-
-
-
-
Human Services
-
-
-
-
Libraries
-
-
-
-
Library Donations
-
-
-
-
Cultural & Recreation
-
-
-
-
Court Programs
-
-
-
-
Comprehensive Planning
-
-
-
-
Federal& State Grants
-
-
535,473
-
Wastewater Projects
-
-
-
-
Other Purposes
-
-
-
-
Debt Service
-
-
-
-
CapitalProjects
-
-
-
26,968,838
Total Restricted
-
14,342,587
535,473
26,968,838
Committed to:
Disaster Recovery
10,000,000
-
-
-
Physical Environment
-
-
-
-
Wastewater Projects
-
-
-
-
Beach Renourishment
-
-
-
-
Total Committed
10,000,000
-
-
-
Assigned to:
Other Purposes
207,010
-
-
-
Fire & Ambulance
-
-
-
-
Subsequent Year's Expenditures
12,086,865
-
-
-
TotalAssigned
12,293,875
-
-
-
Unassigned:
13,706,442
-
-
-
Total Fund Balances
$ 36,004,187
$ 14,342,587
$ 535,473
$ 26,968,838
IMG
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 19 — GOVERNMENTAL FUND BALANCE CLASSIFICATIONS - (continued)
Big Coppitt Cudjoe Regional Nonmajor
Wastewater Wastewater Governmental Total Governmental
Project Project All Debt Service Funds Funds
$ $ $ $ $ 3,870
3,870
3,109,787
17,452,374
1,875,272
1,875,272
4,958,018
4,958,018
3,049,811
3,049,811
13,804,016
13,804,016
2,179,005
2,179,005
28,321,205
28,321,205
936,455
936,455
1,034,099
1,034,099
299,777
299,777
1,609,382
1,609,382
4,627,799
4,627,799
- 5,204,906
5,204,906
- - -
535,473
2,609,065 18,145,223 12,535,492
33,289,780
- - - 425,310
425,310
2,685,735 -
2,685,735
- - 1,330,104
28,298,942
2,609,065 18,145,223 2,685,735 85,300,438
150,587,359
- - - -
10,000,000
1,995,790
1,995,790
373,226
373,226
210,372
210,372
2,579,388
12,579,388
-
207,010
6,282,834
6,282,834
-
12,086,865
6,282,834
18,576,709
- - - (3,299)
13,703,143
$ 2,609,065 $ 18,1451223 $ 2,685,735 $ 94,159,361 $
195,450,469
The 911 Enhancement Fee fund had a negative fund balance of $3,299 as of September 30, 2015. This
balance will be corrected in fiscal year 2016.
D-50
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 20 - RISK MANAGEMENT
The Board 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 Board 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 has self -insured coverage up to the first $500,000
per claim for regular employees. Workers' Compensation claims in excess of the self -insured coverage
of $500,000 are covered by an excess insurance policy. 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 $200,000 self -insured retention, and building property damage is covered for the actual value of
the building with a deductible of $50,000. Deductibles for windstorm and flood vary by location. 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.
All funds of the Board participate in the programs and make payments to the Worker's Compensation,
Group Insurance and Risk Management Funds based on management's estimates of the amounts needed
to pay prior and current year claims. The claims liabilities reported 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 years 2015 and 2014 were:
Unpaid claims at Sept. 30, 2013
Incurred claims
(including IBNRs)
Claim payments
Worker's
Comp.
$ 1,069,901
Group
Insurance Risk Mgmt Total
$ 965,564 $ 233,910 $ 2,269,375
1,792,409 12,610,989 112,924 14,516,322
(1,651,374) (12,532,788) (153,379) (14,337,541)
Unpaid claims at Sept. 30, 2014 1,210,936 1,043,765 193,455 2,448,156
Incurred claims
(including IBNRs) 2,832,938 14,498,018 246,244 17,577,200
Claim payments (3,125,920) (14,614,585) (250,354) (17,990,859)
Unpaid claims at Sept. 30, 2015 $ 917,954 $ 927,198 $ 189,345 $ 2,034,497
D-51
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 21— LITIGATION AND CLAIMS
The Board is a defendant in various lawsuits and is involved in other disputes wherein substantial
amounts are claimed. The Board vigorously defends itself with respect to these matters. The Board's
practice is to provide for these claims when a loss is probable and a loss becomes fixed or determinable
in amount.
As a result of regulations adopted to protect the environment and manage growth, the Board is involved
in a handful of law suits. Most claims have been defeated to date, but two merit mention. In both of
these cases, the County and State of Florida are co-defendants and any amounts awarded are expected to
be apportioned between the parties.
In one regulatory takings claim, the trial court found the County and the State of Florida to be
liable. While the County expects to overturn the liability finding upon appeal, a valuation trial
needs to occur first. It is expected that the jury will assign a value of approximately $250,000.
Attorney fees and interest would be in addition to this estimate but the amounts for these cannot
be reasonably estimated. The Board has not recorded any liability for this claim in its financial
statements due to the expectation that this will be overturned upon appeal.
In the second regulatory takings claim, the liability has been judicially determined against the
County and State of Florida. A jury recently valued the property at $285,500. The Court will
utilize that value to compute the ultimate award of damages including interest. The best estimate
of the potential loss is approximately $600,000. Attorney fees and post judgment interest will be
assessed in addition to this amount but cannot be determined or estimated at this time. The
Board has not recorded any liability for this claim in its financial statements but the estimate of
$600,000 is reflected in the government -wide financial statements of the County.
In the opinion of the Board, it is reasonably possible that there are other open suits and claims that could
result in judgments or settlements, which, in aggregate, would have a material adverse effect on the
Board's financial condition. Based on the uncertainty at this stage of the proceedings, an estimate of the
amount or a range of potential losses cannot be determined.
NOTE 22 - COMMITMENTS AND CONTINGENCIES
Grant Programs - The Board participates in a number of federal and state grant programs that are
governed by various rules and regulations of the grantor agencies. Amounts received or receivable from
grant agencies are subject to financial and compliance audits by the grantors or their representatives.
Any disallowed claims, including amounts already collected, may constitute a liability of the applicable
funds. The amount, if any, which may be disallowed by the grantor, cannot be determined at this time,
although the Board expects such amounts, if any, to be immaterial.
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 non -commencement of construction.
D-52
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2015
NOTE 23 — RESTATEMENTS
The restatements for the Business Type Activities and certain Enterprise Funds and Internal Service
Funds resulted from the implementation of GASB Statement No. 68, Accounting and Financial
Reporting for Pensions an amendment of GASB Statement No. 27, and GASB Statement No. 71,
Pension Transition for Contributions Made Subsequent to the Measurement Date an amendment of
GASB Statement No. 68, which required employers providing a defined benefit pension plan to report
the net pension liabilities of the plans. These restatements resulted in a reduction of the beginning net
position of the following funds:
Municipal Service District Waste Fund $ 532,910
Card Sound Bridge Fund
333,863
Key West Airport Fund
1,655,198
Marathon Airport Fund
194,702
Internal Service Funds
777,298
NOTE 24 — SUBSEQUENT EVENTS
Management has evaluated subsequent events through May 24, 2016, in connection with the preparation
of these financial statements, which is the date the financial statements were available to be issued.
D-53
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF THE BOARD PROPORTIONATE SHARE OF NET PENSION LIABILITY
FLORIDA RETIREMENT SYSTEM
LAST TEN FISCAL YEARS*
Board's proportion of the net pension liability
Board's proportionate share of the net pension liability
Board's covered -employee payroll
Board's proportionate share of the net pension liability as a
percentage of its covered -employee payroll
Plan fiduciary net position as a percentage of the total pension liability
* The amounts presented for each fiscal year were determined as of 6/30.
No data is available for the previous eight years.
2015
0.103158114%
13,324,254
29,097,726
45.79%
92.00%
2014
0.104891393%
$ 6,399,917
$ 28,100,964
22.77%
96.09%
E-1
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF THE BOARD'S CONTRIBUTIONS
FLORIDA RETIREMENT SYSTEM
LAST TEN FISCAL YEARS*
Contractually required contribution
Contributions in relation to the contractually required contribution
Contribution deficiency (excess)
Board's covered -employee payroll
Contributions as a percentage of covered -employee payroll
2015 2014
$ 2,515,082 2,297,567
(2,515,082) (2,297,567)
$ 29,097,726 $ 28,100,694
8.64% 8.18%
* The amounts presented for each fiscal year were determined as of 6/30.
No data is available for the previous eight years.
E-2
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF THE BOARD PROPORTIONATE SHARE OF NET PENSION LIABILITY
HEALTH INSURANCE SUBSIDY PROGRAM
LAST TEN FISCAL YEARS*
Board's proportion of the net pension liability
Board's proportionate share of the net pension liability
Board's covered -employee payroll
Board's proportionate share of the net pension liability as a
percentage of its covered -employee payroll
Plan fiduciary net position as a percentage of the total pension
liability
2015
0.093902398%
$ 9,576,567
$ 29,097,726
32.91 %
* The amounts presented for each fiscal year were determined as of 6/30.
No data is available for the previous eight years.
0.50%
2014
0.093727524%
$ 8,763,852
$ 28,100,964
31.19%
0.99%
E-3
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF THE BOARD'S CONTRIBUTIONS
HEALTH INSURANCE SUBSIDY PROGRAM
LAST TEN FISCAL YEARS*
Contractually required contribution
Contributions in relation to the contractually required
contribution
Contribution deficiency (excess)
Board's covered -employee payroll
Contributions as a percentage of covered -employee payroll
2015 2014
$ 358,953 $ 321,079
(358,953) (321,079)
$ 29,097,726 $ 28,100,964
* The amounts presented for each fiscal year were determined as of 6/30.
No data is available for the previous eight years.
1.23% 1.14%
E-4
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULES OF REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULES OF CHANGES IN THE COUNTY'S NET PENSION LIABILITY
AND RELATED RATIOS
LAST TEN FISCAL YEARS*
(Dollar amounts in thousands)
2015
2014
Total pension liability
Service cost
$ 16,455
$ 18,434
Interest
8,054
12,219
Changes of benefit terms
-
-
Differences between expected and actual experience
89,397
(9,696)
Changes of assumptions
-
-
Benefit payments, including refunds of employee contributions
(30,855)
(25,575)
Net change in total pension liability
83,051
(4,618)
Total pension liability -beginning
804,285
808,903
Total pension liability -ending (a)
$ 887,336
$ 804,285
Plan fiduciary net position
Contributions -employer
$ 28,575 $
36,788
Contributions -employee
-
-
Net investment income
2,591
1,860
Benefit payments, including refunds of employee contributions
(30,855)
(25,575)
Administrative expense
-
(4,755)
Other
-
-
Net change in plan fiduciary net position
311
8,318
Plan fiduciary net position -beginning
857,126
848,808
Plan fiduciary net position -ending (b)
$ 857,437 $
857,126
County's net pension liability -ending (a) - (b)
$ 29,899 $
(52,841)
Plan fiduciary net position as a percentage of the total pension liability
96.63%
106.57%
Covered -employee payroll
N/A
N/A
County's net position liability as a percentage of covered -employee payroll
N/A
N/A
Notes to Schedule:
*This schedule is presented to illustrate the requirement to show information for 10 years. However, until a full 10-year
trend is compiled, governments should present information for those years for which information is available.
E-5
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
REQUIRED SUPPLEMENTARY INFORMATION
YEAR ENDED SEPTEMBER 30, 2015
SCHEDULE OF EMPLOYER CONTRIBUTIONS
PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES
Year Ending December 31,
Actuarially determined contribution
Contributions in relation to the actuarially determined
contribution
Contribution deficiency (excess)
2014
2013
2012
2011
$ 30,304
$ 28,575
$ 31,588
$ 22,945
28,575
28,575
31,588
22,945
$ 1,729 $ - $ - $ -
Covered employee payroll $ - $ - $ - $ -
Contributions as a percentage of covered employee N/A N/A N/A N/A
payroll
Notes to Schedule
Valuation Date:
Actuarially determined contribution rates are calculated as of December 31, which is one year prior to the
end of the fiscal year in which contributions are reported.
Methods and Assumptions used to determine contribution rates:
Inflation - No increase as benefits are based on a flat amount per year of service
Salary Increases - N/A
Investment rate of return - 1.0% net of investment expenses, including inflation
Retirement age - N/A
Mortality - N/A
E-6
2010 2009 2008 2007 2006 2005
$ 25,719 $ 23,714 $ 24,777 $ 28,477 $ 61,050 $ 58,904
25,719 23,714 24,777 28,477 61,050 58,904
N/A N/A N/A N/A N/A N/A
E-7
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
ONE CENT INFRASTRUCTURE SURTAX CAPITAL PROJECT FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Taxes
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Capital Outlay:
General Government
Public Safety
Public Safety Capital Projects
Total Public Safety
Physical Environment
Transportation: Const. Mgmt
Culture and Recreation
Total Capital Outlay Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Reserve for Contingencies
Reserve for Cash Balance
Transfers from Other Funds
Transfers to Other Funds
Total Other Financing Sources/(Uses)
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 17,500,000 $ 18,000,000
$ 20,161,451
$ 2,161,451
25,000 25,000
71,755
46,755
- 2,000,000
3,702,441
1,702,441
17,525,000 20,025,000
23,935,647
3,910,647
5,007,229 5,057,947 1,745,353 3,312,594
1,517,276
4,523,240
1,191,703
3,331,537
1,517,276
4,523,240
1,191,703
3,331,537
8,830,215
10,322,371
4,637,538
5,684,833
3,158,330
3,400,516
568,237
2,832,279
3,225,836
3,650,067
1,196,298
2,453,769
21,738,886
26,954,141
9,339,129
17,615,012
(4,213,886) (6,929,141) 14,596,518 21,525,659
(500,000)
(391,542) -
391,542
(1,756,433)
(1,756,433) -
1,756,433
-
1,996,566 -
(1,996,566)
(5,794,319)
(6,008,917) (5,107,409)
901,508
(8,050,752)
(6,160,326) (5,107,409)
1,052,917
(12,264,638) (13,089,467) 9,489,109 22,578,576
12,264,638 13,089,467 17,479,729 4,390,262
$ 26,968,838 $ 26,968,838
F-1
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
BIG COPPITT WASTEWATER CAPITAL PROJECTS FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Taxes
Licenses and Permits
Investment Income
Miscellaneous Income
Total Revenues
EXPENDITURES:
Current:
Capital Outlay:
Physical Environment:
Big Coppitt Refunds
Big Coppitt Special Assessment
Total Physical Environment
Total Capital Outlay Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ - $ - $ 362 $ 362
550,000 550,000 253,419 (296,581)
10,000 10,000 105,781 95,781
- - 39,346 39,346
560,000 560,000 398,908 (161,092)
5,000 5,000 - 5,000
50,000 50,000 34,540 15,460
55,000 55,000 34,540 20,460
55,000 55,000 34,540 20,460
505,000 505,000 364,368 (140,632)
Other Financing Sources/(Uses):
Transfers from Constitutional Officers - - 995 995
Transfers to Other Funds (682,000) (682,000) (681,938) 62
Total Other Financing Sources/(Uses) (682,000) (682,000) (680,943) 1,057
Net Change in Fund Balances (177,000) (177,000) (316,575) (139,575)
Fund Balances, October 1 177,000 177,000 2,925,640 2,748,640
Fund Balances, September 30 $ - $ - $ 2,609,065 $ 2,609,065
F-2
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
CUDJOE REGIONAL WASTEWATER CAPITAL PROJECTS FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Taxes
Licenses and Permits
Intergovernmental
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Transportation:
Cudjoe Regional X-Paving
Total Transportation
Capital Outlay:
Physical Environment:
Physical Environment Projects
Cudjoe Regional Wastewater Project
County Funding
Grant Funding
Loan Funding
Special Assessment Refunds
Special Assessments
Total Physical Environment
Total Capital Outlay Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Original Final
Budget Budget Actual
Variance with
Final Budget
Positive
(Negative)
$ - $ - $ 330 $ 330
2,275,400 2,275,400 - (2,275,400)
- - 15,566,220 15,566,220
642,903 642,903
- - 72,166 72,166
2,275,400 21275,400 16,281,619 14,006,219
3,000,000 3,000,000 - 3,000,000
3,000,000 31000,000 - 3,000,000
-
-
(29,542)
29,542
-
125,082
-
125,082
78,481,180
95,481,180
54,378,441
41,102,739
25,000
25,000
-
25,000
2,247,522
2,247,522
125,515
2,122,007
80,753,702
97,878,784
54,474,414
43,404,370
83,753,702 100,878,784 54,474,414 46,404,370
(81,478,302) (98,603,384) (38,192,795) 60,410,589
Debt Proceeds 78,481,180 78,481,180 32,523,263 (45,957,917)
Transfers from Other Funds 3,000,000 20,125,082 16,000,000 (4,125,082)
Transfers to/from Consititutional Officers - - 2,487 2,487
Total Other Financing Sources/(Uses) 81,481,180 98,606,262 48,525,750 (50,080,512)
Net Change in Fund Balances 2,878 2,878 10,332,955 10,330,077
Fund Balances, October 1 (2,878) (2,878) 7,812,268 7,815,146
Fund Balances, September30 $ - $ - $ 18,145,223 $ 18,145,223
F-3
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
ALL DEBT SERVICE FUNDS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ 5,100 $ 5,100 $ 6,579 $ 1,479
Total Revenues 5,100 5,100 6,579 1,479
EXPENDITURES:
Current:
Debt Service:
2003 Revenue Bonds:
Principal - 8,310,000 7,060,000 1,250,000
Interest 1,250,000 37,181 37,181 -
Total 2003 Revenue Bonds 1,250,000 8,347,181 7,097,181 1,250,000
2007 Revenue Bonds
Principal
3,080,000
3,080,000
3,080,000 -
Interest
526,200
526,200
293,900 232,300
Other Debt Service Costs
255
300
300 -
Total 2007 Revenue Bonds
3,606,455
3,606,500
3,374,200 232,300
Clean Water SRF Loan
Principal 452,353 452,353 452,352 1
Interest 229,647 229,647 229,586 61
Total Clean Water SRF Loan 682,000 682,000 681,938 62
2014 Revenue Bonds
Principal
- 500,000
500,000 -
Interest
- 704,781
334,438 370,343
Other Debt Service Costs
- 94,970
93,119 1,851
Total 2007 Revenue Bonds
- 1,299,751
927,557 372,194
PNC Line of Credit
Other Debt Service Costs - 31,158 31,151 7
Interest - 51,000 43,117 7,883
Total Clean Water SRF Loan - 82,158 74,268 7,890
Total Expenditures 5,538,455 14,017,590 12,155,144 1,862,446
Excess/Deficiency of Revenues
Over/(Under) Expenditures (5,533,355) (14,012,490) (12,148,565) 1,863,925
(Continued)
F-4
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
ALL DEBT SERVICE FUNDS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Other Financing Sources/(Uses):
Reserve for Contingencies
Reserve for Cash Balance
Transfers from Other Funds
Debt Proceeds
Total Other Financing Sources/(Uses)
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
(725,000)
(354,612)
-
354,612
(1,123,602)
(1,123,602)
-
1,123,602
5,538,455
6,453,893
5,510,919
(942,974)
-
7,193,309
7,120,000
(73,309)
3,689,853
12,168,988
12,630,919
461,931
(1,843,502) (1,843,502)
1,843,502 1,843,502
482,354 2,325,856
2,203,381 359,879
$ 2,685,735 $ 2,685,735
F-5
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2015
SPECIAL
Tourist
Tourist
Affordable
Development
Development
Tourist
Housing
All Districts
Admin & Promo
Development
Programs
Two Cent
Two Cent
District #One
ASSETS
Cash and Cash Equivalents
$ 131,115
$ 1,705,093
$ 2,543,641
$ 2,438,735
Investments
257,125
3,757,102
5,329,568
5,167,232
Accounts Receivable, Net
-
-
-
-
Assessments Receivable
-
-
-
-
Due from Other Funds
-
-
-
-
Due from Other Governmental Units
-
-
-
-
Due from Constitutional Officers
-
753,563
1,543,545
1,273,586
Mortgages/Notes Receivable
-
-
-
-
Allowance for Mortgages/Notes Receivable
-
-
-
-
Advances to Other Governments
-
-
-
-
Interest Receivable
497
6,076
10,221
6,940
Total Assets
$ 388,737
$ 6,221,834
$ 9,426,975
$ 8,886,493
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable $ - $ 361,885 $ 377,101 $ 520,310
Retainage Payable - - - 4,000
Accrued Wages and Benefits Payable - 1,730 553 6,365
Due to Other Funds - - 1,041 -
Due to Other Governmental Units - - - 83,297
Due to Constitutional Officers - - - -
Deposits in Escrow - - - -
Total Liabilities - 363,615 378,695 613,972
Deferred Inflows of Resources:
Advances from Other Governments - - - -
Unavailable Revenues - - - -
Total Deferred Inflows of Resources - - - -
Fund Balances:
Nonspendable - - - -
Restricted 388,737 5,858,219 9,048,280 8,062,149
Committed - - - 210,372
Assigned - - - -
Unassigned - - - -
Total Fund Balances 388,737 5,858,219 9,048,280 8,272,521
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 388,737 $ 6,221,834 $ 9,426,975 $ 8,886,493
G-1
REVENUE FUNDS
Tourist Tourist Tourist Tourist Impact Fees,
Development Development Development Development Impact Fees, Parks and
District #Two District #Three District #Four District #Five Roadways Recreation
$ 207,312 $
514,172 $
268,228 $
391,020 $
377,460 $
191,115
531,360
1,158, 576
775,915
921,370
1,898,729
374,783
130,447
373,062
259,924
260,092
-
-
656
1,439
1,437
1,169
4,789
647
$ 869,775 $
2,047,249 $
1,305,504 $
1,573,651 $
2,280,978 $
566,545
$ 16,885 $ 55,959 $ 110,943 $ 56,548 $ 116,468 $ -
- - - - 330,253 -
3,109 139 139 4,801 - -
- - 9,500 - 468,666 -
- 174,488 11,111 - - -
19,994 230,586 131,693 61,349 915,387 -
849,781
1,816,663
1,173, 811
1,512,302
1,365,591
566,545
849,781
1,816,663
1,173, 811
1,512,302
1,365,591
566,545
$ 869,775 $ 2,047,249 $ 1,305,504 $ 1,573,651 $ 2,280,978 $ 566,545
(Continued)
G-2
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING BALANCE SHEET- CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2015
SPECIAL
Impact Fees,
Impact Fees,
Impact Fees,
Impact Fees,
Libraries
Solid Waste
Police Facilities
Fire & EMS
ASSETS
Cash and Cash Equivalents
$ 346,225
$ 27,336
$ 24,708
$ 23,210
Investments
678,962
53,345
47,904
45,203
Accounts Receivable, Net
-
-
-
-
Assessments Receivable
-
-
-
-
Due from Other Funds
-
-
-
-
Due from Other Governmental Units
7,665
-
-
-
Due from Constitutional Officers
-
-
-
-
Mortgages/Notes Receivable
-
-
-
-
Allowance for Mortgages/Notes Receivable
-
-
-
-
Advances to Other Governments
-
-
-
-
Interest Receivable
1,247
88
54
66
Total Assets
$ 1,034,099
$ 80,769
$ 72,666
$ 68,479
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable $ - $ - $ - $ -
Retainage Payable - - - -
Accrued Wages and Benefits Payable - - - -
Due to Other Funds - - - -
Due to Other Governmental Units - - - -
Due to Constitutional Officers - - - -
Deposits in Escrow - - - -
Total Liabilities - - - -
Deferred Inflows of Resources:
Advances from Other Governments - - - -
Unavailable Revenues - - - -
Deferred Inflows of Resources - - - -
Fund Balances:
Nonspendable - - - -
Restricted 1,034,099 80,769 72,666 68,479
Committed - - - -
Assigned - - - -
Unassigned - - - -
Total Fund Balances 1,034,099 80,769 72,666 68,479
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 1,034,099 $ 80,769 $ 72,666 $ 68,479
G-3
REVENUE FUNDS
Fire & Amb
Upper Keys
Unincorp.
Unincorp.
Impact Fees, District#1,
Health Care
Area Service
Area Service
Fair Share Lower and
Special
District,
Dist., Planning Municipal
Housing Middle Keys
Taxing District
Parks & Rec.
Bldg. & Zoning Policing
$ 196,030 $
1,795,466 $
255,250 $
246,738 $
2,486,007 $
569,298
374,679
5,236,100
537,797
866,154
7,071,304
1,440,287
-
59,282
-
1,850
1,080
-
-
3,794
-
24,488
4,737
9,335
-
8,508
-
-
474,172
-
-
216,769
-
24,201
10,321
351,633
655
8,497
1,242
1,355
9,641
2,220
$ 571,364 $
7,328,416 $
794,289 $
1,164, 786 $
10, 057, 262 $
2,372,773
$ - $ 107,825 $ 157 $ 66,871 $ 91,080 $ -
- 469,585 706 38,457 271,702 -
- 465,925 - 40 24,558 3,775
- 2,247 - 10,810 9,623 -
- - - 5,772 64,040 -
- 1,045,582 863 121,950 461,003 3,775
571,364 - 793,426 1,042,836 9,596,259 2,368,998
- 6,282,834 - - - -
571,364 6,282,834 793,426 1,042,836 9,596,259 2,368,998
$ 571,364 $ 7,328,416 $ 794,289 $ 1,164, 786 $ 10, 057, 262 $ 2,372,773
(Continued)
G-4
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING BALANCE SHEET- CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2015
SPECIAL
911
Duck Key
Local
Enhancement
Security
Housing
Boating
Fees
District
Assistance
Improvement
ASSETS
Cash and Cash Equivalents
$ -
$ 159,782
$ 474,841
$ 797,212
Investments
-
253,493
813,575
1,584,252
Accounts Receivable, Net
-
-
-
-
Assessments Receivable
-
-
-
-
Due from Other Funds
-
1,000
-
-
Due from Other Governmental Units
36,782
-
-
-
Due from Constitutional Officers
-
497
-
48,495
Mortgages/Notes Receivable
-
-
8,482,749
-
Allowance for Mortgages/Notes Receivable
-
-
(8,482,749)
-
Advances to Other Governments
-
-
-
-
Interest Receivable
-
510
1,780
3,200
Total Assets
$ 36,782
$ 415,282
$ 1,290,196
$ 2,433,159
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable $ - $ 9,876 $ 64,811 $ 97,849
Retainage Payable - - - -
Accrued Wages and Benefits Payable - - - 2,904
Due to Other Funds 3,296 - - -
Due to Other Governmental Units - - 6,481 -
Due to Constitutional Officers 36,785 - - -
Deposits in Escrow - - - -
Total Liabilities 40,081 9,876 71,292 100,753
Deferred Inflows of Resources:
Advances from Other Governments - - - -
Unavailable Revenues - - - -
Deferred Inflows of Resources - - - -
Fund Balances:
Nonspendable - - - -
Restricted - 405,406 1,218,904 2,332,406
Committed - - - -
Assigned - - - -
Unassigned (3,299) - - -
Total Fund Balances (3,299) 405,406 1,218,904 2,332,406
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 36,782 $ 415,282 $ 1,290,196 $ 2,433,159
G-5
REVENUE FUNDS
Miscellaneous Law Court Drug Marathon
Special Environmental Enforcement Facility Abuse Municipal
Revenue Restoration Trust Fees Trust Service
$ 735,240 $
648,884 $
275,885 $
903,127 $
46,131 $
1,869
1,936,817
1,355,250
363,404
1,989,913
101,025
(29)
50,280
-
28,104
42,526
2,303
13
3,195
2,268
731
3,107
190
4
$ 2,725,532 $
2,006,402 $
668,124 $
2,938,673 $
149,649 $
1,857
$ 19,567 $ 6,440 $ - $ 821 $ 6,124 $ -
- 4,172 - 3,855 - -
- - - 4,706 497 13
11 - - - - 245,431 - - - - -
265,009 10,612 - 9,382 6,621 13
30,271 - - - - -
30,271 - - - - -
2,430,252 - 668,124 2,929,291 143,028 1,844
- 1,995,790 - - -
2,430,252 1,995,790 668,124 2,929,291 143,028 1,844
$ 2,725,532 $ 2,006,402 $ 668,124 $ 2,938,673 $ 149,649 $ 1,857
(Continued)
G-6
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING BALANCE SHEET- CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2015
SPECIAL
Bay Point
Big Coppitt
Key Largo
Wastewater
Wastewater
Wastewater
Stock Island
MSTU
MSTU
MSTU
Wastewater
ASSETS
Cash and Cash Equivalents
$ 14,692
$ 628
$ 25,689
$ 205,147
Investments
32,174
790
(13,125)
449,294
Accounts Receivable, Net
-
-
-
-
Assessments Receivable
-
-
-
284,171
Due from Other Funds
-
-
-
-
Due from Other Governmental Units
-
-
-
-
Due from Constitutional Officers
-
4
17
497
Mortgages/Notes Receivable
-
-
-
-
Allowance for Mortgages/Notes Receivable
-
-
-
-
Advances to Other Governments
-
-
-
-
Interest Receivable
66
3
10
813
Total Assets
$ 46,932
$ 1,425
$ 12,591
$ 939,922
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable $ - $ - $ - $ 1,228
Retainage Payable - - - -
Accrued Wages and Benefits Payable 70 - - 1,420
Due to Other Funds 137 - 6,011 2,665
Due to Other Governmental Units - - - -
Due to Constitutional Officers - - - -
Deposits in Escrow - - - -
Total Liabilities 207 - 6,011 5,313
Deferred Inflows of Resources:
Advances from Other Governments - - - -
Unavailable Revenues - - - 282,433
Deferred Inflows of Resources - - - 282,433
Fund Balances:
Nonspendable - - - -
Restricted - - - 652,176
Committed 46,725 1,425 6,580 -
Assigned - - - -
Unassigned - - - -
Total Fund Balances 46,725 1,425 6,580 652,176
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 46,932 $ 1,425 $ 12,591 $ 939,922
G-7
REVENUE FUNDS
Cudjoe-
Long Key,
Sugarloaf
Conch Key
Layton
Duck Key
Building
Road &
MSTU
MSTU
MSTU
MSTU
Fund
Bridge
$ 401
$ 158
$ 86,778
$ 21,374
$ 945,596 $
3,888,216
747
309
170,131
41,915
1,969,005
8,432,159
-
-
-
-
-
360,400
5
2
24
85
2,913
13,728
$ 1,153
$ 469
$ 256,933
$ 63,374
$ 2,917,514 $
12, 694, 503
$ 1,143 $ - $ 1,138 $ 1,088 $ 158,811 $ 57,836
- - - - - 46,418
- - - - 140,185 96,881
5 - 59 - - -
- - - - 14,221 54,943
- - - - 8,110 -
1,148 - 1,197 1,088 321,327 256,078
- - - - 2,596,187 12,438,425
5 469 255,736 62,286 - -
5 469 255,736 62,286 2,596,187 12,438,425
$ 1,153 $ 469 $ 256,933 $ 63,374 $ 2,917,514 $ 12, 694, 503
(Continued)
G-8
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING BALANCE SHEET- CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2015
CAPITAL
Total Nonmajor
Clerk's
Infrastructure
Special Rev
Revenue
Revenue Bonds
Funds
Note
Series 2007
ASSETS
Cash and Cash Equivalents
$ 23,969,809
$ 34,537
$ 1,416,136
Investments
56, 004, 594
67,728
-
Accounts Receivable, Net
62,212
-
-
Assessments Receivable
284,171
-
-
Due from Other Funds
43,354
-
-
Due from Other Governmental Units
887,527
-
-
Due from Constitutional Officers
5,369,879
-
-
Mortgages/Notes Receivable
8,482,749
-
-
Allowance for Mortgages/Notes Receivable
(8,482,749)
-
-
Advances to Other Governments
-
-
-
Interest Receivable
91,570
131
-
Total Assets
$ 86,713,116
$ 102,396
$ 1,416,136
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable
$ 2,308,764 $ - $ 15,400
Retainage Payable
380,671 - -
Accrued Wages and Benefits Payable
1,046,773 - -
Due to Other Funds
990,894 - 173,028
Due to Other Governmental Units
367,232 - -
Due to Constitutional Officers
282,216 - -
Deposits in Escrow
77,922 - -
Total Liabilities
5,454,472 - 188,428
Deferred Inflows of Resources:
Advances from Other Governments
30,271
Unavailable Revenues
282,433 - -
Deferred Inflows of Resources
312,704 - -
Fund Balances:
Nonspendable
- - -
Restricted
72, 087, 017 102,396 1,227, 708
Committed
2,579,388 - -
Assigned
6,282,834 - -
Unassigned
(3,299) - -
Total Fund Balances
80,945,940 102,396 1,227,708
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 86,713,116 $ 102,396 $ 1,416,136
G-9
PROJECT FUNDS
Total
Duck Key
Infrastructure Nonmajor
Wastewater
Revenue Bonds Governmental
Project
Series 2014 Funds
$ 813,190 $
9,773,022 $ 36, 006, 694
1,595,204
- 57,667, 526
-
- 62,212
645,199
- 929,370
33,459
- 76,813
-
- 887,527
-
- 5,369,879
-
- 8,482,749
-
- (8,482,749)
150,659
- 150,659
3,027
- 94,728
$ 3,240,738 $
9,773,022 $ 101,245,408
$ - $ 60,021 $
2,384,185
- 27,971
408,642
651 1,074
1,048,498
1,000 398,396
1,563,318
- -
367,232
- -
282,216
- -
77,922
1,651 487,462
6,132, 013
- - 30,271
641,330 - 923,763
641,330 - 954,034
2,597,757 9,285,560 85, 300, 438
- - 2,579,388
- - 6,282,834
- - (3,299)
2,597,757 9,285,560 94,159, 361
$ 3,240,738 $ 9,773,022 $ 101,245,408
G-10
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
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
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Transfers from Other Funds
Transfers to Other Funds
Issuance of Debt
Transfers from Constitutional Officers
Total Other Financing Sources/(Uses)
Net Change in Fund Balances
Fund Balances -October 1
Fund Balances -September 30
SPECIAL
Tourist
Tourist
Affordable
Development
Development
Tourist
Housing
All Districts
Admin & Promo
Development
Programs
Two Cent
Two Cent
District #One
$ -
$ 5,594,876
$ 11,593,683
$ 9,586,816
1,041
13,469
19,186
20,340
-
93
-
-
1,041
5,608,438
11,612,869
9,607,156
- 4,800,090 10,770,465 7,838,732
- 4,800,090 10,770,465 7,838,732
1,041 808,348 842,404 1,768,424
- (58,182)
(39,610)
(59,799)
- 98,217
185,539
158,587
- 40,035
145,929
98,788
1,041 848,383
988,333
1,867,212
387,696 5,009,836
8,059,947
6,405,309
$ 388,737 $ 5,858,219 $
9,048,280 $
8,272,521
G-11
Tourist
Development
District #Two
Tourist
Development
District #Three
Tourist
Development
District #Four
Tourist
Development
District #Five
Impact Fees,
Roadways
Impact Fees,
Parks and
Recreation
$ 1,032,305
$ 2,617,059
$ 1,848,830
$ 2,103,550
$ - $
-
-
-
-
-
130,213
61,625
1,985
41515
31484
31402
81651
11456
1,034,290
2,621,574
1,852,314
2,106,952
138,864
63,081
- - - - 938,534 -
795,928 2,082,205 1,966,288 1,667,120 - -
795,928 2,082,205 1,966,288 1,667,120 938,534 -
238,362 539,369 (113,974) 439,832 (799,670) 63,081
(23,290)
(16,356)
(12,023)
(37,424)
(1,053,021) -
17,009
42,955
30,389
34,818
- -
(6,281)
26,599
18,366
(2,606)
(1,053,021) -
232,081
565,968
(95,608)
437,226
(1,852,691) 63,081
617,700
1,250,695
1,269,419
1,075,076
3,218,282 503,464
$ 849,781 $
1,816,663 $
1,173,811 $
1,512,302 $
1,365,591 $ 566,545
(Continued)
G-12
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES -CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
SPECIAL
Impact Fees,
Impact Fees,
Impact Fees,
Impact Fees,
Libraries
Solid Waste
Police Facilities
Fire & EMS
Revenues:
Taxes
$ -
$ -
$ -
$ -
Licenses and Permits
57,766
12,405
29,222
19,022
Intergovernmental
-
-
-
-
Charges for Services
-
-
-
-
Fines and Forfeitures
-
-
-
-
Investment Income
2,698
205
165
165
Miscellaneous
-
-
-
-
Total Revenues
60,464
12,610
29,387
19,187
Expenditures:
Current:
General Government
-
-
-
-
Public Safety
-
-
-
-
Physical Environment
-
-
-
-
Transportation
-
-
-
-
Economic Environment
-
-
-
-
Human Services
-
-
-
-
Culture and Recreation
-
-
-
-
Court Related
-
-
-
-
Capital Projects
-
-
-
-
Total Expenditures
-
-
-
-
Excess/Deficiency of Revenues
Over/(Under) Expenditures
60,464
12,610
29,387
19,187
Other Financing Sources/(Uses):
Transfers from Other Funds
-
-
-
-
Transfers to Other Funds
-
-
-
-
Issuance of Debt
-
-
-
-
Transfers from Constitutional Officers
-
-
-
-
Total Other Financing Sources/(Uses)
-
-
-
-
Net Change in Fund Balances
60,464
12,610
29,387
19,187
Fund Balances -October 1
973,635
68,159
43,279
49,292
Fund Balances -September 30
$ 1,034,099
$ 80,769
$ 72,666
$ 68,479
G-13
REVENUE FUNDS
Fire & Amb
Upper Keys
Unincorp.
Unincorp.
Impact Fees,
District #1,
Health Care
Area Service
Area Service
Fair Share
Lower and
Special
District,
Dist., Planning
Municipal
Housing
Middle Keys
Taxing District
Parks & Rec.
Bldg. & Zoning
Policing
$ -
$ 10,120,870
$ -
$ 1,607,215
$ 657,975
$ 4,220,423
58,366
-
-
-
-
-
-
134,201
-
5,460
6,013,267
-
-
604,978
-
37,420
2,230,812
3,406,038
-
-
-
-
576,091
-
1,474
29,587
2,348
4,711
26,942
7,809
-
110,617
-
57,045
1,106
-
59,840
11,000,253
2,348
1,711,851
9,506,193
7,634,270
- 517,931 - - 2,661,526 203,321
- 9,658,866 - - 2,638,775 7,435,326
- - - - 712,866 -
- - 144,834 - - -
- - - 1,515,940 - -
- 10,176,797 144,834 1,515,940 6,013,167 7,638,647
59,840 823,456 (142,486) 195,911 3,493,026 (4,377)
- (908,519)
(18,641)
(162,768)
(1,578,892)
(11,514)
- 215,242
-
23,434
10,221
345,929
- (693,277)
(18,641)
(139,334)
(1,568,671)
334,415
59,840 130,179
(161,127)
56,577
1,924,355
330,038
511,524 6,152,655
954,553
986,259
7,671,904
2,038,960
$ 571,364 $ 6,282,834 $
793,426 $
1,042,836 $
9,596,259 $
2,368,998
(Continued)
G-14
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES -CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
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
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Transfers from Other Funds
Transfers to Other Funds
Issuance of Debt
Transfers from Constitutional Officers
Total Other Financing Sources/(Uses)
Net Change in Fund Balances
Fund Balances -October 1
Fund Balances -September 30
SPECIAL
911
Duck Key
Local
Enhancement
Security
Housing
Boating
Fees
District
Assistance
Improvement
-
75,723
-
-
-
-
15,645
-
454,751
-
-
744,548
343
1,171
5,745
6,482
-
-
260,113
23,028
455,094
76,894
281,503
774,058
458,393 64,891 - -
- - - 831,024
- - 449,694 -
458,393 64,891 449,694 831,024
(3,299) 12,003 (168,191) (56,966)
(39,493)
- 497 - -
- 497 - (39,493)
(3,299) 12,500 (168,191) (96,459)
- 392,906 1,387,095 2,428,865
$ (3,299) $ 405,406 $ 1,218,904 $ 2,332,406
G-15
REVENUE FUNDS
Miscellaneous
Law
Court
Drug
Marathon
Special
Environmental
Enforcement
Facility
Abuse
Municipal
Revenue
Restoration
Trust
Fees
Trust
Service
$ -
$ -
$ - $
- $
-
$ 899
140,871
-
-
-
-
-
419,037
-
-
567,462
39,859
-
268,800
435,006
-
-
-
-
7,465
5,110
1,858
7,460
397
7
12,150
-
-
-
-
-
848,323
440,116
1,858
574,922
40,256
906
4,000
-
-
-
-
-
406,355
-
39,492
-
-
-
-
179,600
-
-
-
1,592
252,814
-
-
-
55,685
-
64,238
-
-
-
-
-
201,626
-
-
146,753
-
-
929,033
179,600
39,492
146,753
55,685
1,592
80,710) 260,516 (37,634) 428,169 (15,429) (686)
2,000
-
- - -
-
-
(24,601)
- - -
-
-
-
28,096 - -
13
2,000
(24,601)
28,096 - -
13
(78,710)
235,915
(9,538) 428,169 (15,429)
(673)
2,508,962
1,759,875
677,662 2,501,122 158,457
2,517
$ 2,430,252 $
1,995,790 $
668,124 $ 2,929,291 $ 143,028 $
1,844
(Continued)
G-16
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES -CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
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
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Transfers from Other Funds
Transfers to Other Funds
Issuance of Debt
Transfers from Constitutional Officers
Total Other Financing Sources/(Uses)
Net Change in Fund Balances
Fund Balances -October 1
Fund Balances -September 30
SPECIAL
Bay Point
Big Coppitt
Key Largo
Wastewater
Wastewater
Wastewater
Stock Island
MSTU
MSTU
MSTU
Wastewater
$ -
$ 247
$ 508 $
-
-
-
-
12,185
126
4
26
13,484
-
-
-
3,569
126
251
534
29,238
- - - 1,000
3,730 581 1,472 25,303
3,730 581 1,472 26,303
1604) (330) (938) 2,935
- 4 17 497
- 4 17 497
(3,604) (326) (921) 3,432
50,329 1,751 7,501 648,744
$ 46,725 $ 1,425 $ 6,580 $ 652,176
G-17
REVENUE FUNDS
Cudjoe- Long Key,
Sugarloaf Conch Key Layton Duck Key Building Road &
MSTU MSTU MSTU MSTU Fund Bridge
$ - $ - $ - $ - $ - $ 2,412,988
- - 247,500 - 3,801,834 -
- - - - - 3,298,701
- - - - 87,360 49,474
8 1 266 173 7,236 32,436
- - - - 43,573 29,450
8 1 247,766 173 3,940,003 5,823,049
-
4,175
-
- -
- 10,069
- -
-
3,921
-
3,362,214
-
-
-
-
4,154,916
4,175
- 10,069
3,921
3,362,214
4,154,916
(4,167)
1 237,697
(3,748)
577,789
1,668,133
-
- -
-
-
(520,047)
-
- -
-
-
(520,047)
(4,167)
4,172
1 237,697
468 18,039
(3,748)
66,034
577,789
2,018,398
1,148,086
11,290,339
$ 5 $
469 $ 255,736 $
62,286 $
2,596,187 $
12,438,425
(Continued)
G-18
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES -CONTINUED
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
CAPITAL
Total Nonmajor
Clerk's Infrastructure
Special Rev
Revenue Revenue Bonds
Funds
Note Series 2007
Revenues:
Taxes
$ 53,398,244
$ - $ -
Licenses and Permits
4,646,732
- -
Intergovernmental
9,467,274
- -
Charges for Services
8,641,739
- -
Fines and Forfeitures
1,279,897
- -
Investment Income
243,431
274 156
Miscellaneous
540,744
- -
Total Revenues
78,218,061
274 156
Expenditures:
Current:
General Government
3,387,778
- -
Public Safety
24,064,312
- -
Physical Environment
1,774,333
- -
Transportation
5,093,450
- -
Economic Environment
30,370,522
- -
Human Services
453,333
- -
Culture and Recreation
1,580,178
- -
Court Related
348,379
- -
Capital Projects
-
- 93,882
Total Expenditures
67,072,285
- 93,882
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Transfers from Other Funds
Transfers to Other Funds
Issuance of Debt
Transfers from Constitutional Officers
Total Other Financing Sources/(Uses)
Net Change in Fund Balances
Fund Balances -October 1
11,145,776 274 (93,726)
2,000 - -
(4,564,180) - -
1,191,464 - -
(3,370,716) - -
7,775,060 274 (93,726)
73,170,880 102,122 1,321,434
Fund Balances -September 30 $ 80,945,940 $ 102,396 $ 1,227,708
G-19
PROJECT FUNDS
Duck Key
Wastewater
Project
Infrastructure
Revenue Bonds
Series 2014
Total
Nonmajor
Governmental
Funds
$ 23
$ -
$ 53,398,267
81,720
-
4,728,452
-
-
9,467,274
-
-
8,641,739
-
-
1,279,897
12,443
7,799
264,103
2,352
-
543,096
96,538
7,799
78,322,828
- - 3,387,778
- 10,043 24,074,355
- - 1,774,333
- - 5,093,450
- - 30,370,522
- - 453,333
- - 1,580,178
- - 348,379
11,686 477,196 582,764
11,686 487,239 67,665,092
84,852 (479,440) 10,657,736
- - 2,000
- (16,000,000) (20,564,180)
- 25,765,000 25,765,000
- - 1,191,464
- 9,765,000 6,394,284
84,852
2,512,905
9,285,560
17,052,020
77,107,341
$ 2,597,757 $ 9,285,560 $ 94,159,361
G-20
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
AFFORDABLE HOUSING PROGRAMS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Investment Income
Total Revenues
EXPENDITURES:
Current:
Economic Environment:
Affordable Housing Initiatives
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 750 $ 750 $ 1,041 $ 291
750 750 1,041 291
290,000 290,000
290,000 290,000
(289,250) (289,250)
290,000
290,000
1,041 290,291
Reserve for Contingencies
(5,000)
(5,000)
- 5,000
Reserve for Cash Balance
(10,029)
(10,029)
- 10,029
Total Other Financing Sources/(Uses)
(15,029)
(15,029)
- 15,029
Net Change in Fund Balances
(304,279)
(304,279)
1,041 305,320
Fund Balances, October 1
304,279
304,279
387,696 83,417
Fund Balances, September 30
$ - $
- $
388,737 $ 388,737
G-21
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2015
REVENUES:
Taxes
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Economic Environment:
Cultural Umbrella
Fishing Umbrella
Dive Umbrella
Operations - Events
Catastrophic Emergency
Special Projects
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 4,521,915
$ 4,521,915
$ 5,594,876
$ 1,072,961
-
-
13,469
13,469
-
-
93
93
4,521,915
4,521,915
5,608,438
1,086,523
1,154,680
1,154,680
903,616
251,064
862,250
862,250
728,184
134,066
700,000
700,000
672,826
27,174
3,030,387
3,030,387
2,012,989
1,017,398
1,527,833
1,527,833
-
1,527,833
869,232
869,232
482,475
386,757
8,144,382 8,144,382 4,800,090 3,344,292
(3,622,467) (3,622,467) 808,348 4,430,815
Other Financing Sources/(Uses):
Transfers to Other Funds (65,436) (65,436) (58,182) 7,254
Transfers from Constitutional Officers - - 98,217 98,217
Total Other Financing Sources/(Uses) (65,436) (65,436) 40,035 105,471
Net Change in Fund Balances (3,687,903) (3,687,903) 848,383 4,536,286
Fund Balances, October 1 3,687,903 3,687,903 5,009,836 1,321,933
Fund Balances, September 30 $ - $ - $ 5,858,219 $ 5,858,219
G-22
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2015
REVENUES:
Taxes
Investment Income
Total Revenues
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion
Administrative Services
Catastrophic Emergency
Special Projects
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 9,370,298 $ 9,370,298 $ 11,593,683 $ 2,223,385
- - 19,186 19,186
9,370,298 9,370,298 11,612,869 2,242,571
9,602,683
9,602,684 8,794,845
807,839
1,183,241
1,183,240 842,782
340,458
2,172,167
2,172,167 -
2,172,167
1,151,963
1,151,963 1,132,838
19,125
14,110,054 14,110,054 10,770,465 3,339,589
(4,739,756) (4,739,756) 842,404 5,582,160
Other Financing Sources/(Uses):
Transfers to Other Funds (131,818) (131,818) (39,610) 92,208
Transfers from Constitutional Officers - - 185,539 185,539
Total Other Financing Sources/(Uses) (131,818) (131,818) 145,929 277,747
Net Change in Fund Balances (4,871,574) (4,871,574) 988,333 5,859,907
Fund Balances, October 1 4,871,574 4,871,574 8,059,947 3,188,373
Fund Balances, September 30 $ - $ - $ 9,048,280 $ 9,048,280
G-23
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, DISTRICT #ONE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Taxes
Investment Income
Total Revenues
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion
Administrative Services
Special Events
Bricks and Mortar
Information Services
Beaches
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 8,204,689
$ 8,204,689
$ 9,586,816
$ 1,382,127
-
-
20,340
20,340
8,204,689
8,204,689
9,607,156
1,402,467
5,131,142
5,131,142
290,380
290,380
916,854
916,854
6,050,446
6,050,446
383,761
383,761
121,047
121,047
4,986,949
144,193
52,806
237,574
631,459
285,395
1,783,757
4,266,689
383,761
-
-
121,047
12,893,630 12,893,630 7,838,732 5,054,898
(4,688,941) (4,688,941) 1,768,424 6,457,365
Other Financing Sources/(Uses):
Transfers to Other Funds (108,639) (108,639) (59,799) 48,840
Transfers from Constitutional Officers - - 158,587 158,587
Total Other Financing Sources/(Uses) (108,639) (108,639) 98,788 207,427
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
(4,797,580) (4,797,580) 1,867,212 6,664,792
4,797,580 4,797,580 6,405,309 1,607,729
- $ 8,272,521 $ 8,272,521
G-24
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, DISTRICT #TWO SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Taxes
Investment Income
Total Revenues
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion
Administrative Services
Special Events
Bricks and Mortar
Information Services
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 740,518
$ 740,518
$ 1,032,305
$ 291,787
-
-
1,985
1,985
740,518
740,518
1,034,290
293,772
544,986
544,987
502,516
42,471
28,710
28,710
4,687
24,023
85,175
85,175
56,264
28,911
260,648
260,647
136,701
123,946
95,760
95,760
95,760
-
1,015,279 1,015,279 795,928 219,351
(274,761) (274,761) 238,362 513,123
Other Financing Sources/(Uses):
Transfers to Other Funds (27,235) (27,235) (23,290) 3,945
Transfers from Constitutional Officers - - 17,009 17,009
Total Other Financing Sources/(Uses) (27,235) (27,235) (6,281) 20,954
Net Change in Fund Balances (301,996) (301,996) 232,081 534,077
Fund Balances, October 1 301,996 301,996 617,700 315,704
Fund Balances, September 30 $ - $ - $ 849,781 $ 849,781
G-25
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, DISTRICT #THREE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Taxes
Investment Income
Total Revenues
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion
Administrative Services
Special Events
Bricks and Mortar
Information Services
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 2,165,830
$ 2,165,830
$ 2,617,059
$ 451,229
-
-
4,515
4,515
2,165,830
2,165,830
2,621,574
455,744
1,471,194
1,486,303
1,465,305
20,998
76,535
76,297
12,019
64,278
158,316
143,207
56,214
86,993
1,084,847
1,084,847
380,667
704,180
168,000
168,000
168,000
-
2,958,892 2,958,654 2,082,205 876,449
(793,062) (792,824) 539,369 1,332,193
Other Financing Sources/(Uses):
Transfers to Other Funds (16,162) (16,400) (16,356) 44
Transfers from Constitutional Officers - - 42,955 42,955
Total Other Financing Sources/(Uses) (16,162) (16,400) 26,599 42,999
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
(809,224) (809,224) 565,968 1,375,192
809,224 809,224 1,250,695 441,471
$ 1,816,663 $ 1,816,663
G-26
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, DISTRICT #FOUR SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Taxes
Investment Income
Total Revenues
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion
Administrative Services
Special Events
Bricks and Mortar
Information Services
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 1,641,469
$ 1,641,469
$ 1,848,830
$ 207,361
-
-
3,484
3,484
1,641,469
1,641,469
1,852,314
210,845
1,484,148
1,484,148
1,365,353
118,795
60,284
60,284
9,891
50,393
150,919
150,919
98,489
52,430
639,609
639,609
335,055
304,554
157,500
157,500
157,500
-
2,492,460 2,492,460 1,966,288 526,172
(850,991) (850,991) (113,974) 737,017
Other Financing Sources/(Uses):
Transfers to Other Funds (14,790) (14,790) (12,023) 2,767
Transfers from Constitutional Officers - - 30,389 30,389
Total Other Financing Sources/(Uses) (14,790) (14,790) 18,366 33,156
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
(865,781) (865,781) (95,608) 770,173
865,781 865,781 1,269,419 403,638
$ 1,173,811 $ 1,173,811
G-27
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
TOURIST DEVELOPMENT, DISTRICT #FIVE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Taxes
Investment Income
Total Revenues
EXPENDITURES:
Current:
Economic Environment:
Advertising and Promotion
Administrative Services
Information Services
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)
$ 1,665,395 $ 1,665,395 $ 2,103,550 $ 438,155
- - 3,402 3,402
1,665,395 1,665,395 2,106,952 441,557
1,292,887
1,302,886
1,174,872
128,014
66,740
66,740
11,425
55,315
149,100
149,100
149,100
-
175,004
165,004
123,039
41,965
590,517
590,518
208,684
381,834
2,274,248 2,274,248 1,667,120 607,128
(608,853) (608,853) 439,832 1,048,685
Other Financing Sources/(Uses):
Transfers to Other Funds (53,468) (53,468) (37,424) 16,044
Transfers from Constitutional Officers - - 34,818 34,818
Total Other Financing Sources/(Uses) (53,468) (53,468) (2,606) 50,862
Net Change in Fund Balances (662,321) (662,321) 437,226 1,099,547
Fund Balances, October 1 662,321 662,321 1,075,076 412,755
Fund Balances, September 30 $ - $ - $ 1,512,302 $ 1,512,302
G-28
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
IMPACT FEES - ROADWAYS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Licenses and Permits
Investment Income
Total Revenues
EXPENDITURES:
Current:
Transportation:
C905 Bike Lane
Roadway Projects
Truman Bridge Ped Bridge
Bike/Shared Use Path
Bike Lanes
Key Colony Beach Road Project
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 56,915
$ 56,915
$ 130,213
$ 73,298
2,900
2,900
8,651
5,751
59,815
59,815
138,864
79,049
-
370,871
55,906
314,965
28,226
28,226
-
28,226
929,520
929,520
-
929,520
150,278
398,912
329,305
69,607
717,482
661,576
553,323
108,253
32,652
32,652
-
32,652
1,858,158
2,421,757
938,534
1,483,223
(1,798,343) (2,361,942) (799,670) 1,562,272
Other Financing Sources/(Uses):
Transfers from Other Funds 675,672 739,270 - (739,270)
Transfers to Other Funds (834,015) (1,113,613) (1,053,021) 60,592
Total Other Financing Sources/(Uses) (158,343) (374,343) (1,053,021) (678,678)
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
(1,956,686) (2,736,285) (1,852,691) 883,594
1,956,686 2,736,285 3,218,282 481,997
$ - $ - $ 1,365,591 $ 1,365,591
G-29
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2015
REVENUES:
Licenses and Permits
Investment Income
Total Revenues
EXPENDITURES:
Current:
Culture and Recreation:
District 1 Projects
District 2 Projects
District 3 Projects
Bay Point Park
Big Coppitt Park
Bernstein Park
Total Expenditures
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)
$ 20,960
$ 20,960
$ 61,625
$ 40,665
350
350
1,456
1,106
21,310
21,310
63,081
41,771
41,099
41,099
211,679
211,679
83,623
83,623
15,000
15,000
20,000
20,000
25,400
25,400
396,801 396,801
- 41,099
- 211,679
- 83,623
- 15,000
- 20,000
- 25,400
396,801
(375,491) (375,491) 63,081 438,572
(375,491) (375,491) 63,081 438,572
375,491 375,491 503,464 127,973
$ 566,545 $ 566,545
G-30
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
IMPACT FEES - LIBRARIES SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Licenses and Permits
Investment Income
Total Revenues
EXPENDITURES:
Current:
Culture and Recreation:
County Wide Library Projects
Library Automation
Total Expenditures
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)
$ 19,359
$ 19,359
$ 57,766
$ 38,407
2,200
2,200
2,698
498
21,559
21,559
60,464
38,905
866,283 866,283 - 866,283
25,000 25,000 - 25,000
891,283 891,283 - 891,283
(869,724) (869,724) 60,464 930,188
(869,724) (869,724) 60,464 930,188
869,724 869,724 973,635 103,911
$ 1,034,099 $ 1,034,099
G-31
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2015
REVENUES:
Licenses and Permits
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
County Wide Solid Waste Projects
Total Expenditures
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)
$ 5,400 $ 5,400 $ 12,405 $ 7,005
100 100 205 105
5,500 5,500 12,610 7,110
53,387 53,387 - 53,387
53,387 53,387 - 53,387
(47,887) (47,887) 12,610 60,497
(47,887) (47,887) 12,610 60,497
47,887 47,887 68,159 20,272
80,769 $ 80,769
G-32
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2015
REVENUES:
Licenses and Permits
Investment Income
Total Revenues
EXPENDITURES:
Current:
Public Safety:
County Wide Police Facility
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Reserve for Contingencies
Reserve for Cash Balance
Total Other Financing Sources/(Uses)
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 9,725 $ 9,725 $ 29,222 $ 19,497
200 200 165 (35)
9,925 9,925 29,387 19,462
9,925 9,925 29,387 19,462
(113,487) (113,487) - 113,487
(113,487) (113,487) - 113,487
(103,562) (103,562) 29,387 132,949
103,562 103,562 43,279 (60,283)
$ - $ - $ 72,666 $ 72,666
G-33
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2015
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Licenses and Permits
$ 5,910
$ 5,910
$ 19,022
$ 13,112
Investment Income
-
-
165
165
Total Revenues
5,910
5,910
19,187
13,277
EXPENDITURES:
Current:
Public Safety:
District 1 Fire & EMS Project
15,864
15,864
- 15,864
District 2 Fire & EMS Project
429
429
- 429
District 3 Fire & EMS Project
16,814
16,814
- 16,814
Key Colony Beach Fire & EMS
896
896
- 896
Total Expenditures
34,003
34,003
- 34,003
Excess/Deficiency of Revenues
Over/(Under) Expenditures (28,093) (28,093) 19,187 47,280
Net Change in Fund Balances (28,093) (28,093) 19,187 47,280
Fund Balances, October 1 28,093 28,093 49,292 21,199
Fund Balances, September 30 $ - $ - $ 68,479 $ 68,479
G-34
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
IMPACT FEES - EMPLOYEE FAIR SHARE HOUSING SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Licenses and Permits
$ 6,000
$ 6,000
$ 58,366
$ 52,366
Investment Income
925
925
1,474
549
Total Revenues
6,925
6,925
59,840
52,915
EXPENDITURES:
Current:
Economic Environment:
District 1 Employee Fair Share Hsg 141,720 141,720
District 3 Employee Fair Share Hsg 152,699 152,699
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
294,419 294,419
(287,494) (287,494)
Other Financing Sources/(Uses):
Reserve for Contingencies (15,873) (15,873)
Reserve for Cash Balance (50,000) (50,000)
Total Other Financing Sources/(Uses) (65,873) (65,873)
141,720
152,699
294,419
59,840 347,334
15,873
50,000
65,873
Net Change in Fund Balances (353,367) (353,367) 59,840 413,207
Fund Balances, October 1 353,367 353,367 511,524 158,157
Fund Balances, September 30 $ - $ - $ 571,364 $ 571,364
G-35
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2015
REVENUES:
Taxes
Intergovernmental
Charges for Services
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
General Government:
Tax Collector
Property Appraiser
Total General Government
Public Safety:
Fire Rescue - Central
Lower & Middle Keys Ambulance Dist
Total Public Safety
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Reserve for Contingencies
Reserve for Cash Balance
Transfers to Other Funds
Transfers from Constitutional Officers
Total Other Financing Sources/(Uses)
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
Original Final
Budget Budget
Variance with
Final Budget
Positive
Actual (Negative)
$ 10,608,483 $ 10,608,483 $ 10,120,870 $ (487,613)
44,000
44,000
134,201
90,201
570,000
570,000
604,978
34,978
21,000
21,000
29,587
8,587
-
-
110,617
110,617
11,243,483
11,243,483
11,000,253
(243,230)
317,054
317,054
301,087
15,967
229,629
229,629
216,844
12,785
546,683
546,683
517,931
28,752
10,013,631 9,970,496 9,659,792 310,704
- - (926) 926
10,013,631 9,970,496 9,658,866 311,630
10,560,314 10,517,179 10,176,797 340,382
683,169 726,304 823,456 97,152
(612,554)
(655,689)
- 655,689
(2,104,823)
(2,104,823)
- 2,104,823
(1,071,005)
(1,071,005)
(908,519) 162,486
152,000
152,000
215,242 63,242
(3,636,382)
(3,679,517)
(693,277) 2,986,240
(2,953,213) (2,953,213) 130,179
2,953,213 2,953,213 6,152,655
3,083,392
3,199,442
$ 6,282,834 $ 6,282,834
G-36
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2015
REVENUES:
Investment Income
Total Revenues
EXPENDITURES:
Current:
Human Services:
Trauma District Administration
Trauma Transportation and Treatment
Trauma Pretransportation
Trauma Facility Upgrade
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 2,500 $ 2,500 $ 2,348 $ (152)
2,500 2,500 2,348 (152)
17,201
17,201
200,000
200,000
2,000
2,000
100
100
13,124 4,077
131,710 68,290
- 2,000
100
219,301 219,301 144,834 74,467
(216,801) (216,801) (142,486) 74,315
Reserve for Contingencies
(29,867)
(29,867) -
29,867
Reserve for Cash Balance
(32,370)
(32,370) -
32,370
Transfers to Other Funds
(19,137)
(19,137) (18,641)
496
Total Other Financing Sources/(Uses)
(81,374)
(81,374) (18,641)
62,733
Net Change in Fund Balances (298,175) (298,175) (161,127) 137,048
Fund Balances, October 1 298,175 298,175 954,553 656,378
Fund Balances, September 30 $ - $ - $ 793,426 $ 793,426
G-37
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2015
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
Total Culture and Recreation
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Reserve for Contingencies
Reserve for Cash Balance
Transfers to Other Funds
Transfers from Constitutional Officers
Total Other Financing Sources/(Uses)
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 1,662,725 $ 1,662,725 $ 1,607,215 $ (55,510)
-
-
5,460
5,460
36,000
36,000
37,420
1,420
3,000
3,000
4,711
1,711
50,500
50,500
57,045
6,545
1,752,225
1,752,225
1,711,851
(40,374)
1,379,989
1,379,989
1,314,362 65,627
180,000
180,000
180,000 -
32,000
32,000
21,578 10,422
1,591,989
1,591,989
1,515,940 76,049
1,591,989 1,591,989 1,515,940 76,049
160,236 160,236 195,911 35,675
(75,000)
(75,000) -
75,000
(345,636)
(345,636) -
345,636
(280,733)
(280,733) (162,768)
117,965
-
- 23,434
23,434
(701,369)
(701,369) (139,334)
562,035
(541,133) (541,133) 56,577 597,710
541,133 541,133 986,259 445,126
$ 1,042,836 $ 1,042,836
G-38
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2015
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Taxes
$ 630,000
$ 630,000
$ 657,975
$ 27,975
Intergovernmental
5,749,523
5,749,523
6,013,267
263,744
Charges for Services
841,601
841,601
2,230,812
1,389,211
Fines and Forfeitures
400,000
400,000
576,091
176,091
Investment Income
22,200
22,200
26,942
4,742
Miscellaneous
-
-
1,106
1,106
Total Revenues
7,643,324
7,643,324
9,506,193
1,862,869
Expenditures:
Current:
General Government:
Tax Collector
70,000
70,000
47,116
22,884
Property Appraiser
43,544
43,544
36,245
7,299
Growth Mgmt County Attorney
564,489
564,489
512,015
52,474
Planning Department
1,560,584
1,448,971
1,144,117
304,854
2010 Comprehensive Plan
270,000
270,000
186,274
83,726
GIS
211,734
211,734
190,780
20,954
Planning Commission
81,964
81,964
73,951
8,013
Growth Mgmt Administration
761,932
761,933
471,028
290,905
Total General Government
3,564,247
3,452,635
2,661,526
791,109
Public Safety:
Code Enforcement
1,469,420
1,469,420
1,360,118
109,302
Fire & Rescue Coordinator
807,876
807,876
776,137
31,739
Fire Marshall
398,986
398,986
380,998
17,988
Fire Refund
12,000
190,774
121,522
69,252
Total Public Safety
2,688,282
2,867,056
2,638,775
228,281
Physical Environment:
Environmental Resources 799,343 799,343 712,866 86,477
Total Physical Environment 799,343 799,343 712,866 86,477
Total Expenditures 7,051,872 7,119,034 6,013,167 1,105,867
Excess/Deficiency of Revenues
Over/(Under) Expenditures 591,452 524,290 3,493,026 2,968,736
(Continued)
G-39
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL -CONTINUED
UNINCORPORATED AREA SERVICE DISTRICT - PLANNING,
BUILDING AND ZONING SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Original Final
Budget Budget
Other Financing Sources/(Uses):
Variance with
Final Budget
Positive
Actual (Negative)
Reserve for Contingencies
(464,452)
(100,678) -
100,678
Reserve for Cash Balance
(1,687,247)
(1,687,247) -
1,687,247
Transfers to Other Funds
(1,251,330)
(1,547,942) (1,578,892)
(30,950)
Transfers from Constitutional Officers
20,000
20,000 10,221
(9,779)
Total Other Financing Sources/(Uses)
(3,383,029)
(3,315,867) (1,568,671)
1,747,196
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
(2,791,577) (2,791,577) 1,924,355 4,715,932
2,791,577 2,791,577 7,671,904 4,880,327
$ 9,596,259 $ 9,596,259
G-40
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
MUNICIPAL POLICING SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Taxes
Charges for Services
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
General Government:
Tax Collector
Property Appraiser
Total General Government
Public Safety:
Insurance Unincorporated & Layton
Insurance Islamorada
Insurance Marathon
Sheriff Unincorporated & Layton
Sheriff Islamorada
Sheriff Marathon
Total Public Safety
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Reserve for Contingencies
Reserve for Cash Balance
Transfers to Other Funds
Transfers from Other Funds
Transfers from Constitutional Officers
Total Other Financing Sources/(Uses)
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 4,170,573
$ 4,170,573
$ 4,220,423
$ 49,850
3,464,888
3,464,888
3,406,038
(58,850)
5,980
5,980
7,809
1,829
7,641,441
7,641,441
7,634,270
(7,171)
124,903 124,903 118,290 6,613
89,525 89,525 85,031 4,494
214,428 214,428 203,321 11,107
482,940
457,940
403,311
54,629
206,560
231,560
231,077
483
184,303
184,303
147,501
36,802
3,615,482
3,615,482
3,615,482
-
1,636,000
1,636,000
1,636,000
-
1,401,955
1,401,955
1,401,955
-
7,527,240
7,527,240
7,435,326
91,914
7,741,668 7,741,668 7,638,647 103,021
(100,227) (100,227) (4,377) 95,850
(100,000) (97,680) - 97,680
(954,611) (954,611) - 954,611
(9,194) (11,514) (11,514) -
250,000 250,000 345,929 95,929
(813,805) (813,805) 334,415 1,148,220
(914,032) (914,032) 330,038 1,244,070
914,032 914,032 2,038,960 1,124,928
$ 2,368,998 $ 2,368,998
G-41
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
911 ENHANCEMENT FEES SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual (Negative)
REVENUES:
Charges for Services
$ 495,000
$ 495,000
$ 454,751 $ (40,249)
Investment Income
60
60
343 283
Total Revenues
495,060
495,060
455,094 (39,966)
EXPENDITURES:
Current:
Public Safety:
911 Enhancement Fund
235,030
235,030
212,114
22,916
911 Wireless
260,030
260,030
246,279
13,751
Total Culture and Recreation
495,060
495,060
458,393
36,667
Total Expenditures
495,060
495,060
458,393
36,667
Excess/Deficiency of Revenues
Over/(Under) Expenditures - - (3,299) (3,299)
Net Change in Fund Balances - - (3,299) (3,299)
Fund Balances, October 1 - - - -
Fund Balances, September 30 $ - $ - $ (3,299) $ (3,299)
G-42
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
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, 2015
REVENUES:
Licenses and Permits
Investment Income
Total Revenues
EXPENDITURES:
Current:
General Government:
Tax Collector
Total General Government
Public Safety:
Island Security
Total Public Safety
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 75,000
$ 75,000
$ 75,723
$ 723
800
800
1,171
371
75,800
75,800
76,894
1,094
2,250 2,250 - 2,250
2,250 2,250 - 2,250
235,058 235,058 64,891 170,167
235,058 235,058 64,891 170,167
237,308 237,308 64,891 172,417
(161,508) (161,508)
Reserve for Contingencies (35,500) (35,500)
Reserve for Cash Balance (67,843) (67,843)
Transfers from Constitutional Officers - -
Total Other Financing Sources/(Uses) (103,343) (103,343)
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
(264,851) (264,851)
264,851 264,851
12,003 173,511
35,500
- 67,843
497 497
497 103,840
12,500 277,351
392,906 128,055
$ 405,406 $ 405,406
G-43
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
LOCAL HOUSING ASSISTANCE
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Intergovernmental
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Economic Environment:
Homeowner Assistance 13
Homeowner Assistance 14
Homeowner Assistance 15
Fair Housing 13
Fair Housing 14
Fair Housing 15
Administration 13
Administration 14
Administration 15
Total Economic Environment
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 365,717 $ 365,717 $ 15,645 $ (350,072)
1,100 1,100 5,745 4,645
- - 260,113 260,113
366,817 366,817 281,503 (85,314)
222,248
222,248
222,248
-
305,088
305,088
182,728
122,360
315,135
241,992
-
241,992
5,000
5,000
-
5,000
5,000
5,000
-
5,000
5,000
5,000
-
5,000
26,361
26,361
26,361
-
35,565
35,565
18,357
17,208
36,682
36,682
-
36,682
956,079
882,936
449,694
433,242
956,079 882,936 449,694 433,242
(589,262) (516,119) (168,191) 347,928
Other Financing Sources/(Uses):
Reserve for Contingencies (15,000) (88,143) - 88,143
Reserve for Cash Balance (15,000) (15,000) - 15,000
Total Other Financing Sources/(Uses) (30,000) (103,143) - 103,143
Net Change in Fund Balances (619,262) (619,262) (168,191) 451,071
Fund Balances, October 1 619,262 619,262 1,387,095 767,833
Fund Balances, September 30 $ - $ - $ 1,218,904 $ 1,218,904
G-44
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BOATING IMPROVEMENT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Charges for Services
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Boating Improvement
Boating Imp Fees/Retained Vessel
Total Physical Environment
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 695,000
$ 695,000
$ 744,548
$ 49,548
4,500
4,500
6,482
1,982
-
7,133
23,028
15,895
699,500
706,633
774,058
67,425
1,624,247
1,578,868
363,480
1,215,388
427,175
477,175
467,544
9,631
2,051,422
2,056,043
831,024
1,225,019
2,051,422 2,056,043 831,024 1,225,019
(1,351,922) (1,349,410) (56,966) 1,292,444
Reserve for Contingencies
(154,785) (104,785)
- 104,785
Reserve for Cash Balance
(389,386) (389,386)
- 389,386
Transfers to Other Funds
- (52,512)
(39,493) 13,019
Total Other Financing Sources/(Uses)
(544,171) (546,683)
(39,493) 507,190
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
(1,896,093) (1,896,093) (96,459)
1,896,093 1,896,093 2,428,865
1,799,634
532,772
$ 2,332,406 $ 2,332,406
G-45
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
MISCELLANEOUS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Licenses and Permits
Charges for Services
Fines and Forfeitures
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
General Government:
County Administrator
Conservation Land Purchase
Legal Scholar Program
Total General Government
Public Safety:
Interagency Communications
Education -Building Department
Environmental Resource Education
Fire and Rescue Bldg Educ
Crime Prevention Program
Total Public Safety
Human Services:
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ - $ 140,871 $ 140,871 $ -
- 617,487 419,037 (198,450)
- 114,625 268,800 154,175
- - 7,465 7,465
- 52,150 12,150 (40, 000)
- 925,133 848,323 (76,810)
2,500 52,500 - 52,500
12,710 12,710 - 12,710
- 4,000 4,000 -
15,210 69,210 4,000 65,210
140,000
160,000
154,259
5,741
23,400
100,888
27,352
73,536
13,000
71,913
12,914
58,999
-
4,470
-
4,470
-
257,143
211,830
45,313
176,400
594,414
406,355
188,059
FL Keys Council for the Handicapped
7,000
7,595
4,972
2,623
Bayshore Donations
1,240
1,090
-
1,090
Traffic Educ, Ord 021-2002
50,000
240,751
213,337
27,414
Legal Aid
-
34,505
34,505
-
Total Human Services
58,240
283,941
252,814
31,127
Culture and Recreation:
Settler's Park Landscaping
12,237 6,142
2,360
3,782
Library Special Programs
- 48,209
3,163
45,046
Library Donation -Golan Trust
350,000 352,752
58,715
294,037
Total Culture and Recreation
362,237 407,103
64,238
342,865
(Continued)
9M
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL - CONTINUED
MISCELLANEOUS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
Court Related:
Teen Court - Ord 016-2004
-
34,505
34,505
-
Ord 016-2004 St Court Sup
15,000
49,505
6,787
42,718
SA Ct Tech FS28.24(12)(E)
375,000
559,334
91,336
467,998
PD Ct Tech FS28.24(12)(E)
10,000
61,211
28,367
32,844
J Ct Tech FS28.24(12)(E)
41,988
313,324
40,631
272,693
Total Court Related
441,988
1,017,879
201,626
816,253
Total Expenditures 1,054,075 2,372,547 929,033 1,443,514
Excess/Deficiency of Revenues
Over/(Under) Expenditures (1,054,075) (1,447,414) (80,710) 1,366,704
Other Financing Sources/(Uses):
Reserve for Contingencies (934,472) (508,628) - 508,628
Transfers to Other Funds - (34,505) - 34,505
Transfers from Other Funds - 2,000 2,000 -
Total Other Financing Sources/(Uses) (934,472) (541,133) 2,000 543,133
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
(1,988,547) (1,988,547) (78,710)
1,988,547 1,988,547 2,508,962
1,909,837
520,415
$ 2,430,252 $ 2,430,252
G-47
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
ENVIRONMENTAL RESTORATION SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Fines and Forfeitures
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Environmental Restoration
KLWT Plant Site Mitg Pro
Total Physical Environment
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 150,000 $ 150,000 $ 435,006 $ 285,006
2,900 2,900 5,110 2,210
152,900 152,900 440,116 287,216
177,936 182,936 179,600 3,336
694,677 694,677 - 694,677
872,613 877,613 179,600 698,013
872,613 877,613 179,600 698,013
(719,713) (724,713) 260,516 985,229
Reserve for Contingencies (121,231) (91,231) - 91,231
Reserve for Cash Balance (224,524) (224,524) - 224,524
Transfers to Other Funds - (25,000) (24,601) 399
Total Other Financing Sources/(Uses) (345,755) (340,755) (24,601) 316,154
Net Change in Fund Balances (1,065,468) (1,065,468) 235,915 1,301,383
Fund Balances, October 1 1,065,468 1,065,468 1,759,875 694,407
Fund Balances, September 30 $ - $ - $ 1,995,790 $ 1,995,790
G-48
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
LAW ENFORCEMENT TRUST SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Public Safety:
Law Enforcement
Total Public Safety
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 1,200 $ 1,200 $ 1,858 $ 658
- 199,220 - (199,220)
1,200 200,420 1,858 (198,562)
333,835 533,055 39,492 493,563
333,835 533,055 39,492 493,563
333,835 533,055 39,492 493,563
(332,635) (332,635) (37,634) 295,001
Reserve for Contingencies (47,691) (47,691) - 47,691
Reserve for Cash Balance (95,382) (95,382) - 95,382
Transfers from Constitutional Officers - - 28,096 28,096
Total Other Financing Sources/(Uses) (143,073) (143,073) 28,096 171,169
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
(475,708) (475,708) (9,538) 466,170
475,708 475,708 677,662 201,954
$ 668,124 $ 668,124
G-49
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
COURT FACILITY FEES SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Charges for Services
Investment Income
Total Revenues
EXPENDITURES:
Current:
Court Related:
Court Facility
Total Court Related
Total Expenditures
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 530,750
$ 530,750
$ 567,462
$ 36,712
5,000
5,000
7,460
2,460
535,750
535,750
574,922
39,172
358,766 358,766 146,753 212,013
358,766 358,766 146,753 212,013
358,766 358,766 146,753 212,013
Excess/Deficiency of Revenues
Over/(Under) Expenditures
176,984
176,984 428,169
251,185
Other Financing Sources/(Uses):
Reserve for Contingencies
(49,795)
(49,795) -
49,795
Reserve for Cash Balance
(100,402)
(100,402) -
100,402
Total Other Financing Sources/(Uses)
(150,197)
(150,197) -
150,197
Net Change in Fund Balances 26,787 26,787 428,169 401,382
Fund Balances, October 1 (26,787) (26,787) 2,501,122 2,527,909
Fund Balances, September 30 $ - $ - $ 2,929,291 $ 2,929,291
G-50
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
DRUG ABUSE TRUST SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Charges for Services
Investment Income
Total Revenues
EXPENDITURES:
Current:
Human Services:
Drug Abuse Trust Fund
Total Human Services
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Reserve for 164
Reserve for Cash Balance
Total Other Financing Sources/(Uses)
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 30,000 $ 30,000 $ 39,859 $ 9,859
275 275 397 122
30,275 30,275 40,256 9,981
98,040
98,040
55,685
42,355
98,040
98,040
55,685
42,355
98,040
98,040
55,685
42,355
(67,765) (67,765) (15,429) 52,336
(14,020) (14,020) - 14,020
(28,000) (28,000) - 28,000
(42,020) (42,020) - 42,020
(109,785) (109,785) (15,429) 94,356
109,785 109,785 158,457 48,672
$ - $ - $ 143,028 $ 143,028
G-51
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
MARATHON MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Taxes
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Marathon Wastewater
Total Physical Environment
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Reserve for Contingencies
Transfers from Constitutional Officers
Total Other Financing Sources/(Uses)
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
Original Final
Budget Budget
Variance with
Final Budget
Positive
Actual (Negative)
899 $ 899
7 7
906 906
1,811
1,838
1,592 246
1,811
1,838
1,592 246
1,811
1,838
1,592 246
(1,811) (1,838) (686) 1,152
(201)
(174)
(201)
(174)
(2,012)
(2,012)
2,012
2,012
-
174
13
13
13
187
(673)
1,339
2,517
505
1,844 $ 1,844
G-52
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BAY POINT MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Bay Point Wastewater
Total Physical Environment
Total Expenditures
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ - $ - $ 126 $ 126
126 126
22,391 22,391 3,730 18,661
22,391 22,391 3,730 18,661
22,391 22,391 3,730 18,661
Excess/Deficiency of Revenues
Over/(Under) Expenditures
(22,391)
(22,391) (3,604)
18,787
Other Financing Sources/(Uses):
Reserve for Contingencies
(2,798)
(2,798) -
2,798
Reserve for Cash Balance
(2,798)
(2,798) -
2,798
Total Other Financing Sources/(Uses)
(5,596)
(5,596) -
5,596
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
(27,987) (27,987) (3,604) 24,383
27,987 27,987 50,329 22,342
46,725 $ 46,725
G-53
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BIG COPPITT MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Taxes
$ -
$ -
$ 247
$ 247
Investment Income
-
-
4
4
Total Revenues
-
-
251
251
EXPENDITURES:
Current:
Physical Environment:
Big Coppitt Wastewater
1,262
1,262
581
681
Total Physical Environment
1,262
1,262
581
681
Total Expenditures
1,262
1,262
581
681
Excess/Deficiency of Revenues
Over/(Under) Expenditures
(1,262)
(1,262)
(330)
932
Other Financing Sources/(Uses):
Reserve for Contingencies
(140)
(140)
-
140
Transfers from Constitutional Officers
-
-
4
4
Total Other Financing Sources/(Uses)
(140)
(140)
4
144
Net Change in Fund Balances
(1,402)
(1,402)
(326)
1,076
Fund Balances, October 1
1,402
1,402
1,751
349
Fund Balances, September 30
$ -
$ -
$ 1,425
$ 1,425
G-54
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
KEY LARGO MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Key Largo Wastewater
Total Physical Environment
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Reserve for Contingencies
Transfers from Constitutional Officers
Total Other Financing Sources/(Uses)
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ - $ - $ 508 $ 508
26 26
534 534
2,164
2,164
1,472 692
2,164
2,164
1,472 692
2,164
2,164
1,472 692
(2,164) (2,164) (938) 1,226
(240)
-
(240)
-
-
17
240
17
(240)
(240)
17
257
(2,404)
(2,404)
(921)
1,483
2,404
2,404
7,501
5,097
6,580 $ 6,580
G-55
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
STOCK ISLAND WASTEWATER SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Licenses and Permits
Investment Income
Miscellaneous Income
Total Revenues
EXPENDITURES:
Current:
General Government:
Tax Collector Fees
Total General Government
Physical Environment:
Stock Island Wastewater
Stock Island Cap Fee Refund
Total Physical Environment
Total Expenditures
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 47,000
$ 47,000
$ 12,185
$ (34,815)
1,200
1,200
13,484
12,284
-
-
3,569
3,569
48,200
48,200
29,238
(18,962)
1,410 1,410 1,000 410
1,410 1,410 1,000 410
355,883 355,883 25,303 330,580
5,000 5,000 - 5,000
360,883 360,883 25,303 335,580
362,293 362,293 26,303 335,990
Excess/Deficiency of Revenues
Over/(Under) Expenditures
(314,093)
(314,093)
2,935 317,028
Other Financing Sources/(Uses):
Reserve for Contingencies
(51,696)
(51,696)
- 51,696
Reserve for Cash Balance
(102,970)
(102,970)
- 102,970
Transfers from Constitutional Officers
400
400
497 97
Total Other Financing Sources/(Uses)
(154,266)
(154,266)
497 154,763
Net Change in Fund Balances (468,359) (468,359) 3,432 471,791
Fund Balances, October 1 468,359 468,359 648,744 180,385
Fund Balances, September 30 $ - $ - $ 652,176 $ 652,176
G-56
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
CUDJOE-SUGARLOAF MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Cudjoe-Sugarloaf Wastewater
Total Physical Environment
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Reserve for Contingencies
Transfers from Constitutional Officers
Total Other Financing Sources/(Uses)
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 $ 8
8 8
7,485
4,175
4,175 -
7,485
4,175
4,175 -
7,485
4,175
4,175 -
(7,485) (4,175) (4,167)
(800) (4,111) - 4,111
(800) (4,111) - 4,111
(8,285) (8,286) (4,167) 4,119
8,285 8,286 4,172 (4,114)
$ - $ - $ 5 $ 5
G-57
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
CONCH KEY MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Conch Key MSTU
Total Physical Environment
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Reserve for Contingencies
Total Other Financing Sources/(Uses)
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 $ 1
1 1
468 468
469 $ 469
G-58
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
LONG KEY-LAYTON MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Licenses and Permits
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Long Key -Layton Wastewater
Total Physical Environment
Total Expenditures
Excess/Deficiency of Revenues
Over/(Under) Expenditures
Other Financing Sources/(Uses):
Reserve for Contingencies
Reserve for Cash Balance
Total Other Financing Sources/(Uses)
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ - $ - $ 247,500 $ 247,500
266 266
247,766 247,766
10,013
10,113
10,069 44
10,013
10,113
10,069 44
10,013
10,113
10,069 44
(10,013) (10,113) 237,697 247,810
(1,250)
(1,150) -
1,150
(1,250)
(1,250) -
1,250
(2,500)
(2,400) -
2,400
(12,513)
(12,513) 237,697
250,210
12,513
12,513 18,039
5,526
$ 255,736 $ 255,736
G-59
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
DUCK KEY MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
REVENUES:
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Duck Key Wastewater
Total Physical Environment
Total Expenditures
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ - $ - $ 173 $ 173
173 173
31,588 31,589 3,921 27,668
31,588 31,589 3,921 27,668
31,588 31,589 3,921 27,668
Excess/Deficiency of Revenues
Over/(Under) Expenditures
(31,588)
(31,589) (3,748)
27,841
Other Financing Sources/(Uses):
Reserve for Contingencies
(4,450)
(4,450) -
4,450
Reserve for Cash Balance
(8,500)
(8,500) -
8,500
Transfers from Constitutional Officers
-
- -
-
Total Other Financing Sources/(Uses)
(12,950)
(12,950) -
12,950
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
(44,538) (44,539) (3,748) 40,791
44,538 44,539 66,034 21,495
$ - $ - $ 62,286 $ 62,286
G-60
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BUILDING FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Licenses and Permits
$ 2,927,636
$ 2,927,636
$ 3,801,834
$ 874,198
Charges for Services
66,000
66,000
87,360
21,360
Investment Income
2,000
2,000
7,236
5,236
Miscellaneous
13,250
13,250
43,573
30,323
Total Revenues
3,008,886
3,008,886
3,940,003
931,117
EXPENDITURES:
Current:
Public Safety
Building Department 3,523,972 3,523,972 3,284,062 239,910
Building Refunds 10,000 131,000 78,152 52,848
Total Public Safety 3,533,972 3,654,972 3,362,214 292,758
Total Expenditures 3,533,972 3,654,972 3,362,214 292,758
Excess/Deficiency of Revenues
Over/(Under) Expenditures
(525,086)
(646,086)
577,789 1,223,875
Other Financing Sources/(Uses):
Reserve for Contingencies
(152,357)
(31,357)
- 31,357
Reserve for Cash Balance
(317,416)
(317,416)
- 317,416
Total Other Financing Sources/(Uses)
(469,773)
(348,773)
- 348,773
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
(994,859) (994,859) 577,789 1,572,648
994,859 994,859 2,018,398 1,023,539
$ 2,596,187 $ 2,596,187
G-61
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
ROAD AND BRIDGE SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
Revenues:
Taxes
$ 2,210,000
$ 2,210,000
$ 2,412,988
$ 202,988
Intergovernmental
3,490,000
3,490,000
3,298,701
(191,299)
Charges for Services
56,500
56,500
49,474
(7,026)
Investment Income
20,000
20,000
32,436
12,436
Miscellaneous
38,000
38,000
29,450
(8,550)
Total Revenues
5,814,500
5,814,500
5,823,049
8,549
Expenditures:
Current:
Transportation:
Road Department
3,636,220
3,636,218
2,648,804
987,414
County Engineer Road and Bridge
408,923
408,924
311,160
97,764
Street Lighting
244,127
244,127
227,366
16,761
Local Option Gas Tax Projects
377,583
377,583
326,475
51,108
80% Gas Tax
1,615,000
1,615,001
637,637
977,364
Paving Backlog
2,500,000
2,500,000
3,474
2,496,526
Sugarloaf Blvd Bridge
-
199,859
-
199,859
Total Transportation
8,781,853
8,981,712
4,154,916
4,826,796
Total Expenditures 8,781,853 8,981,712 4,154,916 4,826,796
Excess/Deficiency of Revenues
Over/(Under) Expenditures (2,967,353) (3,167,212) 1,668,133 4,835,345
Other Financing Sources/(Uses):
Reserve for Contingencies
(300,000)
(80,205) -
80,205
Reserve for Cash Balance
(672,070)
(672,070) -
672,070
Transfers from Other Funds
60,592
60,592 -
(60,592)
Transfers to Other Funds
(3,274,460)
(3,294,396) (520,047)
2,774,349
Total Other Financing Sources/(Uses)
(4,185,938)
(3,986,079) (520,047)
3,466,032
Net Change in Fund Balances (7,153,291) (7,153,291) 1,148,086 8,301,377
Fund Balances, October 1 7,153,291 7,153,291 11,290,339 4,137,048
Fund Balances, September 30 $ - $ - $ 12,438,425 $ 12,438,425
G-62
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING STATEMENT OF NET POSITION
INTERNAL SERVICE FUNDS
SEPTEMBER 30, 2015
ASSETS
Current Assets:
Cash and Cash Equivalents
Investments
Accounts Receivable, Net
Due from Other Governmental Units
Due from Constitutional Officers
Interest Receivable
Total current assets
Noncurrent Assets:
Land and Other Nondepreciable Assets
Capital Assets, Net of Accum. Depreciation
Total Noncurrent Assets
Total Assets
DEFERRED OUTFLOWS OF RESOURCES
Related to Pensions
LIABILITIES
Current Liabilities:
Accounts Payable
Accrued Wages and Benefits Payable
Claims and Judgments Payable
Due to Other Funds
Due to Other Governmental Units
Accrued Comp. Absences Payable
Total Current Liabilities
Noncurrent Liabilities:
Accrued Comp. Absences Payable
OPEB Liability
Net Pension Liability
Total Noncurrent Liabilities
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Related to Pensions
NET POSITION
Net investment in capital assets
Unrestricted
Total Net Position
Worker's Group Risk
Compensation Insurance Management
Fund Fund Fund
$ 2,466,436 $ 5,738,075 $ 1,423,605
1,974,117 7,394,989 3,275,242
- 11,445 371
- 72,207 -
5,979 256,301 -
6,802 19,077 7,195
4,453,334 13,492,094 4,706,413
868 - 21,131
868 - 21,131
4,454,202 13,492,094 4,727,544
15,904 16,996 14,509
11,908
1,833,910
19,065
12,760
19,428
12,097
917,954
927,198
189,345
-
30
-
-
236
-
3,553
5,571
5,938
946,175
2,786,373
226,445
14,211
22,285
23,755
133,000
89,000
225,000
101,145
108,324
88,756
248,356
219,609
337,511
1,194, 531 3,005,982 563,956
15,129 16,105 14,789
868 - 21,131
3,259,578 10, 487, 003 4,142,177
$ 3,260,446 $ 10,487,003 $ 4,163,308
H-1
Fleet
Management
Fund Total
$ 479,794 $
10,107,910
2,079,889
14, 724, 237
13
11,829
26,117
98,324
-
262,280
2,771
35,845
2,588,584
25,240,425
54,000 54,000
919,872 941,871
973,872 995,871
3,562,456 26,236,296
70,594 118,003
35,337
1,900,220
54,844
99,129
-
2,034,497
175
205
40
276
14,196
29,258
104,592
4,063,585
56,786
117,037
475,000
922,000
452,204
750,429
983,990
1,789,466
1,088,582 5,853,051
66,241 112,264
973,872 995,871
1,504,355 19, 393,113
$ 2,478,227 $ 20,388,984
H-2
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN NET POSITION
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
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
Non -Operating Revenues/(Expenses):
Investment Income
Insurance Recoveries
Gain (Loss) on Disposition of Assets
Total Non -Operating Revenues/(Expenses)
Income/Loss Before Transfers
Transfers to Other Funds
Fixed Asset Transfer from Governmental Funds
Change in Net Position
Total Net Position -October 1
Adjustments to Net Position -October 1
Net Position -October 1 (as Restated)
Worker's Group Risk
Compensation Insurance Management
Fund Fund Fund
$ 1,910,245 $ 14,620,162 $ 1,415,950
30,475 - -
1,940,720 14,620,162 1,415,950
209,445
239,327
222,162
621,007
1,373,321
1,936,808
-
214
6,067
2,832,938
14,498,018
246,244
3,663,390
16,110,880
2,411,281
(1,722,670) (1,490,718) (995,331)
12,637 36,049 16,215
1,207,283 156,083 68,331
1,219,920 192,132 84,546
(502,750) (1,298,586) (910,785)
(61,030) (117,760) (32,970)
(563,780) (1,416,346) (943,755)
3,928,991 12,015,435 5,200,760
(104,765) (112,086) (93,697)
3,824,226 11,903,349 5,107,063
Total Net Position -September 30 $ 3,260,446 $ 10,487,003 $ 4,163,308
H-3
Fleet
Management
Fund Total
$ 2,793,786 $ 20,740,143
2,014 32,489
2,795,800 20,772,632
1,052,720
1,723,654
1,049,470
4,980,606
59,328
65,609
-
17,577,200
2,161,518
24,347,069
634,282 (3,574,437)
8,733 73,634
- 1,431,697
(9,682) (9,682)
(949) 1,495,649
633,333 (2,078,788)
(367,760) (579,520)
89,265 89,265
354,838 (2,569,043)
2,590,139 23,735,325
(466,750) (777,298)
2,123,389 22,958,027
$ 2,478,227 $ 20,388,984
:f!
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Operating Activities:
Cash received for services
Cash rec'vd from other funds for goods and svcs
Cash received from insurance recoveries
Cash payments to suppliers for goods and svcs
Cash payments for employee services
Cash payments to other funds
Cash payments for claims
Other operating revenue
Net Cash Provided by/(Used in)
Operating Activities
Noncapital Financing Activities:
Transfers to other funds
Net Cash Provided/(Used) by Noncapital
Financing Activities
Capital and Related Financing Activities:
Acquisition of capital assets
Net Cash Provided/(Used) by Capital and
Related Financing Activities
Investing Activities:
Investment income
Proceeds from sales and maturities of investments
Purchase of investment securities
Net Cash Provided/(Used) in Investing Activities
Net Increase/(Decrease) in Cash and
Cash Equivalents
Cash and Cash Equivalents:
October 1
Worker's Group Risk
Compensation Insurance Management
Fund Fund Fund
$ 1,910,245
$ 14,608,717 $
1,424,261
(2,129)
(129,992)
-
1,207,283
156,083
68,331
(632,897)
(1,444,775)
(1,956,253)
(201,623)
(214,294)
(171,771)
(6)
266
-
(3,125,920)
(14,614,585)
(250,354)
30,475
-
-
(814,572) (1,638,580) (885,786)
(61,030) (117,760) (32,970)
(61,030) (117,760) (32,970)
12,637
36,049
16,215
3,191,426
7,658,044
2,549,819
(1,666,070)
(5,238,340)
(2,123,593)
1,537,993
2,455,753
442,441
662,391 699,413 (476,315)
1,804,045 5,038,662 1,899,920
September 30 $ 2,466,436 $ 5,738,075 $ 1,423,605
H-5
Fleet
Management
Fund Total
$ 2,793,934 $ 20,737,157
1,223
(130,898)
-
1,431,697
(1,057,999)
(5,091,924)
(973,664)
(1,561,352)
215
475
-
(17,990,859)
2,014
32,489
765,723 (2,573,215)
(367,760) (579,520)
(367,760) (579,520)
(4,738) (4,738)
(4,738) (4,738)
8,733
73,634
413,051
13,812,340
(1,067,088)
(10,095,091)
(645,304)
3,790,883
(252,079) 633,410
731,873 9,474,500
$ 479,794 $ 10,107,910
(Continued)
W.
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF CASH FLOWS - CONTINUED
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
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
Nonoperating Income -Insurance Recoveries
Change in assets and liabilities:
(Increase)/Decrease in Accounts receivable
(Increase)/Decrease in Due from other gov't units
(Increase)/Decrease in Due fm constitutional ofcrs
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 Due to constitutional ofcrs
Increase/(Decrease) in Comp. absences payable
Increase/(Decrease) in OPEB liability
Increase/(Decrease) in Pension liability
Increase/(Decrease) in Deferred outflows
Increase/(Decrease) in Deferred inflows
Total adjustments
Net cash provided by/(used in)
operating activities
Noncash investing, capital, and financing activities:
Transfer of Fixed Assets from Governmental Funds
Change in fair value of investments
Cash Reconciliation:
Unrestricted
Worker's Group Risk
Compensation Insurance Management
Fund Fund Fund
$ (1,722,670) $ (1,490,718) $ (995,331)
-
214
6,067
1,207,283
156,083
68,331
-
(11,445)
8,311
3,850
(72,207)
-
(5,979)
(57,785)
-
(11,890)
(71,454)
(19,445)
7,920
14,229
7,457
(292,982)
(116,567)
(4,110)
-
30
-
(6)
236
-
1,081
2,289
(1,579)
3,216
13,168
49,174
29,348
31,295
27,829
(6,996)
(7,479)
(6,346)
(26,747)
(28,469)
(26,144)
908,098
(147,862)
109,545
$ (814,572) $ (1,638,580) $ (885,786)
$ 6,888 $ 21,657 $ 8,780
$ 2,466,436 $ 5,738,075 $ 1,423,605
H-7
Fleet
Management
Fund Total
$ 634,282 $ (3,574,437)
59,328 65,609
- 1,431,697
148
(2,986)
1,223
(67,134)
-
(63,764)
(8,529)
(111,318)
34,182
63,788
-
(413,659)
175
205
40
270
(6,898)
(5,107)
70,671
136,229
129,287
217,759
(31,090)
(51,911)
(117,096)
(198,456)
131,441
1,001,222
$ 765,723 $ (2,573,215)
$ 89,265 $ 89,265
$ 4,412 $ 41,737
$ 479,794 $ 10,107,910
;�3
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMPONENT UNIT
COMPREHENSIVE PLAN LAND AUTHORITY
STATEMENT OF NET POSITION
SEPTEMBER 30, 2015
ASSETS
Cash and cash equivalents
Due from BOCC
Due from State of Florida
Mortgages receivable
Capital assets -land
Total assets
Deferred Outflows of Resources
$ 18,781,964
562,770
30,457
9,151,579
25,228,946
53,755,716
19,362
LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND NET POSITION
Current liabilities:
Accounts payable 1,500
Accrued wages 14,052
Compensated absences 14,737
Total current liabilities 30,289
Noncurrent liabilities:
Compensated absences 64,795
Net Pension Liability 119,868
Total noncurrent liabilities 184,663
Total liabilities 214,952
Deferred Inflows of Resources 22,247
Net position:
Net investment in capital assets 25,228,946
Restricted 12,062,441
Unrestricted 16,246,492
Total net position $ 53,537,879
1-1
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMPONENT UNIT
COMPREHENSIVE PLAN LAND AUTHORITY
STATEMENT OF ACTIVITIES
SEPTEM BER 30, 2015
General revenues
Intergovernmental
Investment Income
Total general revenues
Program expenses
Land contribution conveyances
General government
Total program expenses
Increase in net position
Net position, beginning of year, previously reported
Restatement
Net position, beginning of year, restated
Net position, end of year
$ 4,957,129
50,491
5,007,620
19,630
319,041
338,671
48,998,456
(129,526)
48,868,930
$ 53,537,879
1-2
*.I% Cherry Bekaert`_'
go CFAs & Advisers
Report of Independent Auditor on Internal Control Over
Financial Reporting and on Compliance and Other Matters
Based on an Audit of Financial Statements Performed in
Accordance with Government Auditing Standards
To the Clerk Ex Officio, Mayor and
Board of County Commissioners of
Monroe County, Florida:
We have audited, in accordance with auditing standards generally accepted in the United States of America and
the standards applicable to the financial audits contained in Government Auditing Standards issued by the
Comptroller General of the United States, the financial statements of each major fund, the discretely presented
component unit, and the aggregate remaining fund information of the Monroe County, Florida Board of County
Commissioners (the "Board") as of and for the year ended September 30, 2015, and the related notes to the
financial statements, which collectively comprise the Board's basic financial statements, and have issued our
report thereon dated May 24, 2016 for the purpose of compliance with Section 218.39(2), Florida Statutes, and
Chapter 10.550, Rules of the Auditor General -Local Governmental Entity Audits.
Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the Board's internal control over
financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances
for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an
opinion on the effectiveness of the Board's internal control. Accordingly, we do not express an opinion on the
effectiveness of the Board's internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent or detect and correct
misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal
control, such that there is a reasonable possibility that a material misstatement of the Board's financial
statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a
deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet
important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section
and was not designed to identify all deficiencies in internal control that might be material weaknesses or
significant deficiencies and therefore, material weaknesses or significant deficiencies may exist that were not
identified. Given these limitations during our audit we did not identify any deficiencies in internal control that we
consider to be material weaknesses. However, material weaknesses may exist that have not been identified.
We did identify certain deficiencies described in Appendix A - Financial Statement Findings as item 2015-001
and 2015-002 that we consider to be significant deficiencies.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Board's financial statements are free from material
misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and
grant agreements, noncompliance with which could have a direct and material effect on the 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.
J-1
Responses to the Findings
The Board's responses to the findings identified in our audit are described in Appendix A — Financial Statement
Findings. The Board's responses were not subjected to the auditing procedures applied in the audit of the
financial statements and accordingly, we express no opinion on them.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and
the results of that testing, and not to provide an opinion on the effectiveness of the Board's internal control or on
compliance. This report is an integral part of an audit performed in accordance with Government Auditing
Standards in considering the Board's internal control and compliance. Accordingly, this communication is not
suitable for any other purpose.
Orlando, Florida
May 24, 2016
J-2
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
APPENDIX A - FINANCIAL STATEMENT FINDINGS
Finding 2015-001
Significant Deficiency
Training and Review
Criteria: An effective system of internal control contemplates that management properly maintain and close the
books and records to safeguard the accuracy of the financial statements. This includes ensuring that
management has the availability and expertise to properly review, close and adjust the books and records in a
timely manner to ensure accuracy.
Condition: During our audit we noted that the majority of the Finance staff has been in place for the past fiscal
year and that the majority of vacant positions from the prior year were filled. While this resulted in an
improvement in the timeliness and accuracy of the accounting records, numerous entries were required to
correct the books and records at year-end.
Effect: Potential for financial statement error.
Cause: There was a large volume of unique and complex transactions requiring significant management
analysis and consultation and certain transaction recorded in error were either not detected through review
processes or were recorded later than normally expected.
Recommendation: We recommend that the Clerk ensure that the Finance staff continue to be developed in
order to enhance expertise and availability for management oversight, providing additional assurance that books
and records contain accurate and reliable financial information in a timely manner.
Management Response: We will continue making significant improvements and will consult with external
auditors on a routine basis regarding unique and complex transactions that require a significant amount of
management analysis and consultation; especially those that take place during year-end. The unique and
complex transactions for this year included:
• Implementation of GASB 68
• Pension Presentation/Disclosures and delays by the State of Florida
• Mayfield Money (proper technical presentation -- Grant vs. Loan)
• Debt swap of $17 million between the BOCC and the Key Largo Wastewater Treatment District
• Issuance of a $32 mil bond document and the covenants
• Issuance of an associated $16 mil line of credit
• Bankruptcy and treatment for uncollectible airport debt (had been on F/S for years)
• Theft of County banking information (management worked closely with law enforcement, bank and
county staff to resolve)
• Changing of banking RFP process (July thru Oct was transition period)
• Upgrade of the entire financial/accounting system (August and September)
Finding 2015-002
Significant Deficiency
Late postings and payments
Criteria: An effective system of internal control includes methods for insuring that transactions be recorded in a
timely manner in order for the books and records to be accurate at any point in time as well as proper approval
of all journal entries.
J-3
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
APPENDIX A - FINANCIAL STATEMENT FINDINGS
Condition and context: During our testing of journal entries as well as procurement cards we noted that at
times journal entries were posted late and at times the procurement card invoices were paid after the due date.
In the majority of cases these late postings and late payments were due to the fact that the supporting
documentation to support the transaction was not provided to Finance in a timely manner. Additionally we noted
a small number of journal entries with no approval signature.
Effect: Late posting of journal entries results in the books and records of the County to be less than accurate
until the underlying transactions are posted and late payment of procurement card statements may result in the
card being rendered unusable to the holder until payment is made. Lack of journal entry approval may result in
incorrect postings.
Cause: Lack of coordination between departments.
Recommendation: We recommend that the County establish procedures to ensure that Finance be provided all
documentation within a reasonable time frame to allow for the timely posting of journal entries and payment of
procurement card invoices and that all journal entries are approved prior to posting.
Management Response: In July 2014, the Clerk's Internal Audit Department issued "Audit Report of the
Monroe County Board of County Commissioners Purchasing Card Policy and Procedures" that found
procurement card (p-card) invoices were not submitted by Board of County Commissioner (BOCC) staff in a
timely manner.
In October 2015 the Clerk's Internal Audit Department conducted a follow-up and identified that the p-card
invoices continue to not be paid timely due to late submission by BOCC staff.
BOCC acknowledged to Internal Audit that the monthly invoices were not submitted timely. BOCC management
indicated that they were willing to accept the risks associated with not paying the p-card invoices on time.
It is recommended that BOCC management heed the recommendations of both the internal and external
auditors for submitting the p-card invoices timely.
The Clerk and BOCC staff worked tirelessly throughout the year to improve coordination and communication.
In the majority of instances, the delays noted were due to outside factors that are beyond the control of BOCC
and/or Clerk staff. Examples include:
• Staff could not proceed without BOCC approval;
• Staff could not proceed until court action on bond validation;
• Staff could not proceed without input from third party grantor agencies;
• Staff needed replies or feedback from other government agencies;
• Contract execution must occur prior to posting.
These external factors have always existed and will continue to exist. It is unreasonable to expect that these
external factors will be eliminated.
J-4
`� Cherry Bekaert"'
CPAs & Advisors
Independent Auditor's Management Letter
To the Clerk Ex Officio, Mayor and
Board of County Commissioners of
Monroe County, Florida:
Report on the Financial Statements
We have audited the financial statements of each major fund, the discretely presented component unit, and the
aggregate remaining fund information of the Monroe County, Florida Board of County Commissioners (the
"Board") as of and for the year ended September 30, 2015, and have issued our report thereon dated May 24,
2016.
Auditor's Responsibility
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America; the standards applicable to financial audits contained in Government Auditing Standards, issued by
the Comptroller General of the United States; and Chapter 10.550, Rules of the Auditor General.
Other Reports
We have issued our Report of Independent Auditor on Internal Control over Financial Reporting and on
Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with
Government Auditing Standards; and our Report of Independent Accountant on Compliance with Local
Government Investment Policies regarding compliance requirements in accordance with Chapter 10.550, Rules
of the Auditor General. Disclosures in those reports, which are dated May 24, 2016, should be considered in
conjunction with this management letter.
Prior Audit Findings
Section 10.554(1)(i)l., Rules of the Auditor General, requires that we determine whether or not corrective
actions have been taken to address findings and recommendations made in the preceding annual financial audit
report. We have addressed the status of findings and recommendations made in the preceding annual financial
report in Appendix A attached to this letter.
Official Title and Legal Authority
Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal authority for
the primary government and each component unit of the reporting entity be disclosed in this management letter,
unless disclosed in the notes to the financial statements. Such disclosure is included in notes to the financial
statements.
Other Matters
Section 10.554(1)(i)2., Rules of the Auditor General, requires that we address in the management letter any
recommendations to improve financial management. In connection with our audit, we did not have any such
recommendations.
Section 10.554(1)(i)3., Rules of the Auditor General, requires that we address noncompliance with provisions of
contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect
in the financial statements that is less than material but which warrants the attention of those charged with
governance. In connection with our audit, we did not have any such findings.
J-5
Purpose of this Letter
The purpose of this management letter is to communicate certain matters prescribed by Chapter 10.550, Rules
of the Auditor General. Accordingly, this management letter is not suitable for any other purpose.
Orlando, Florida
May 24, 2016
J-6
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
MANAGEMENT LETTER COMMENTS (PRIOR YEAR) - APPENDIX A
2014-001 IT Best Practice Recommendation — Risk Assessment - Corrected
Observation:
During our review of the internal controls over information technology we noted that the County has not
performed a formal risk assessment of the information technology that is currently in place. A risk assessment is
an assessment of the risk faced by information technologies at the County. This document should identify and
classify potential risks to the central IT infrastructure and resources, document obstacles precluding elimination
of these identified risks and then recognize the County's acceptance of those risks. A risk assessment should
be updated with the results of audits, inspections, and identified incidents. The scope should include risks
related to the confidentiality, availability, and integrity of critical data and resources. As a main deliverable of
this risk assessment, documented policies and procedures related to IT Security should be developed and
implemented. Once approved the policies and procedures should be updated annually and approved by the
executive level. Additionally all employees should sign -off on these policies stating they agree to adhere to set
policies and procedures.
Recommendation:
We recommend that the County IT management perform and document a formal IT Risk Assessment of the
information technology that is currently in place.
Management Response:
A technical assessment of the IT environment of the FinancePlus financial application has been performed
2014-002 IT Best Practice Recommendation — Information Security Policy - Corrected
Observation:
A formal Information Security Policy which defines the security objective for the County has not been developed
and implemented by the County. A policy should be established to define requirements to requesting and
granting access, terminating access, and periodically reviewing access. Additionally procedures should be
implemented to define minimum requirements for password security, confidentiality of information, and
segregation of duties guidelines within the application. The policy should also outline the security policies of the
County that are in place to restrict physical and logical access to sensitive data as well as network security,
back-up and disaster recovery procedures. The program should be reviewed and updated annually to accurately
reflect changes in the information systems environment.
Recommendation:
We recommend that the County IT management develop and implement a formal Information Security Policy.
This lack of documentation could result in inadequate implementation of the Board's IT security controls.
Management Response:
The County has developed and implemented a formal Information Security Policy
J-7
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
MANAGEMENT LETTER COMMENTS (PRIOR YEAR) - APPENDIX A
2014-003 IT Best Practice Recommendation — Segregation of Duties - Corrected
Observation:
During our review of access and security controls, we noted that the County does not maintain proper
segregation of duties over the process of physically providing user access and a timely review of the user
access change logs. The Finance Director is responsible for physically providing user access to various financial
applications (as approved by others in the organization) and the user access change log is currently reviewed
annually. This constitutes an inadequate level of segregation of duties between the end users of the system and
the security administration function, which could result in inappropriate access.
Recommendation:
It is recommended that a monthly review of the user access change log be instituted and performed by an
appropriate party.
Management Response:
A system access review has been implemented and is being performed by an individual not responsible for
provisioning system access to the financial applications.
J-8
`� Cherry Bekalert-
CPAs & Advisors
Report of Independent Accountant on Compliance
with Local Government Investment Policies
To the Clerk Ex Officio, Mayor and
Board of County Commissioners of
Monroe County, Florida:
Report on Compliance
We have examined the Monroe County, Florida Board of County Commissioners' (the "Board") compliance with
the local government investment policy requirements of Section 218.415, Florida Statutes, during the year
ended September 30, 2015. Management is responsible for the Board's compliance with those requirements.
Our responsibility is to express an opinion on the Board's compliance based on our examination.
Scope
Our examination was conducted in accordance with attestation standards established by the American Institute
of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the
Board's compliance with those requirements and performing such other procedures as we considered
necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion.
Our examination does not provide a legal determination on the Board's compliance with specified requirements.
Opinion
In our opinion, the Board complied, in all material respects, with the aforementioned requirements for the year
ended September 30, 2015.
Orlando, Florida
May 24, 2016
J-9