Fiscal Year 2016MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
FINANCIAL STATEMENTS
As of and for the Year Ended September 30, 2016
And Report of Independent Auditor
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MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Financial Statements
For The Fiscal Year Ended September 30, 2016
TABLE OF CONTENTS
Table of Contents
Basic Financial Statements
Report of Independent Auditor
Fund Financial Statements:
Balance Sheet - Governmental Funds
Statement of Revenues, Expenditures, and Changes in Fund Balances -
Governmental Funds
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual
Major Governmental Funds:
General Fund
Fine and Forfeiture Fund
Governmental Grants Fund
Statement of Net Position - Proprietary Funds
Statement of Revenues, Expenses and Changes in Net Position - Proprietary Funds
Statement of Cash Flows - Proprietary Funds
Notes to Financial Statements
Required Supplementary Information:
Florida Retirement System
Schedule of the Board's Proportionate Share of Net Pension Liability -
Florida Retirement System
Schedule of the Board's Contributions - Florida Retirement System
Schedule of the Board's Proportionate Share of Net Pension Liability -
Health Insurance Subsidy Program
Schedule of the Board's Contributions
Health Insurance Subsidy Program
Pension Plan for Volunteer Firefighters and Emergency Medical Services
Schedule of Changes in the Board's Net Pension Liability and Related Ratios
Schedule of Employer Contributions
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
Big Coppitt Wastewater Capital Project Fund
Cudjoe Regional Wastewater Capital Project Fund
All Debt Service Funds
PAGE
C-5
C-10
C-12
C-15
C-19
C-21
3
E-1
E-2
E-3
E-4
E-5
E-6
F-1
F-2
F-3
F-4
(Continued)
A-1
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Financial Statements
For The Fiscal Year Ended September 30, 2016
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-11
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-41
G-42
G-43
G-44
G-45
G-46
G-48
G-49
(Continued)
A-2
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
Financial Statements
For The Fiscal Year Ended September 30, 2016
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
Clerk's Revenue Note Capital Projects Fund
G-63
Infrastructure Revenue Bonds Series 2007 Capital Projects Fund
G-64
Duck Key Wastewater Project Capital Projects Fund
G-65
Infrastructure Revenue Bonds Series 2014 Capital Projects Fund
G-66
Long Key Wastewater Project Capital Projects Fund
G-67
Land Acquisition Fund Capital Projects Fund
G-68
Combining Statement of Net Position - Internal Service Funds H-1
Combining Statement of Revenues, Expenses, and Changes in Net Position -
Internal Service Funds H-3
Combining Statement of Cash Flows - Internal Service Funds H-5
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
Independent Auditor's Management Letter J-4
Report of Independent Accountant on Compliance with Local Government Investment J-7
Policies
A-3
.,;:.
Cherry Bekae
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, 2016, 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, 2016, 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 1 to the basic financial statements, the County adopted Governmental Accounting
Standards Board ("GASB") Statement No. 73, Accounting and Financial Reporting for Pensions and Related
Assets that are not within the Scope of GASB 68, and Amendments to Certain provisions of GASB Statements 67
and 68, beginning October 1, 2015. As a result, net position as of September 30, 2015 has been restated. Our
opinion is 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 March 31, 2017 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
March 31, 2017
B-2
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
BALANCE SHEET
GOVERNMENTALFUNDS
SEPTEMBER 30, 2016
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
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
$ 6,795,908
$ 19,392,434 $
449,092
17,727,825
4,359,127
1,684,478
20,160
1,366,050
261
8,807,358
-
55,733
535,387
278,230
2,540,750
6,335,805
1,532,925
-
-
-
496,531
-
-
(496,531)
60,709
5,891
4,737
3,728
-
-
$ 40,286,880
$ 26,934,657 $
4,735,051
$ 1,322,933 $
46,676 $
875,688
-
-
129,951
169,353
-
-
55,733
9,308,767
-
449,538
33,031
80,976
1,466
16,062
-
9,202
-
-
5,410
-
-
2,013,635
9,404,536
1,086,615
- - 83,541
- 770,063 1,945,135
- 770,063 2,028,676
3,728 - -
- 16,760,058 1,619,760
10, 000, 000 - -
12, 779, 394 - -
15,490,123 - -
38,273,245 16,760,058 1,619, 760
$ 40,286,880 $ 26,934,657 $ 4,735,051
The notes to the financial statements are an integral part of these statements.
C-1
One Cent Big Coppitt Cudjoe Regional All Nonmajor Total
Infrastructure Wastewater Wastewater Debt Service Governmental Governmental
Surtax Project Project Funds Funds Funds
$ 2,995,777 $
294,925
$ 4,982,112 $
1,354,731
$ 29, 749, 627
$ 66, 014,606
16,801,203
2,180,303
6,454,537
1,271,898
74,394,654
124,874,025
80
-
-
-
9,277
1,395,828
-
2,711,284
29,883,019
-
848,599
33,442,902
3,668,413
12,649
6,412,734
-
45,812
19,002,699
1,590,224
-
-
-
1,771,931
6,716,522
-
965
3,075
-
5,533,457
13,406,227
-
-
-
-
8,476,848
8,973,379
-
-
-
-
(8,476,848)
(8,973,379)
-
-
4,785,277
-
-
4,785,277
37,879
5,433
10,687
3,850
154,562
283,748
-
-
-
-
-
3,728
$ 25,093,576 $
5,205,559
$ 52,531,441 $
2,630,479
$ 112,507,919
$ 269,925,562
$ 1,088,680 $ 4,587 $
5,027 $
65,000 $ 2,561,106
$ 5,969,697
395,055 -
-
- 162,611
687,617
- -
-
- -
169,353
- 2,256,718
15,295
- 6,702,791
18,339,304
65 -
609
- 290,204
854,423
- -
-
- 72,504
90,032
- -
-
- 1,329
10,531
- -
-
- 156,885
162,295
1,483,800 2,261,305
20,931
65,000 9,947,430
26,283,252
- - - - - 83,541
- 2,598,799 29,164,669 - 837,248 35,315,914
- 2,598,799 29,164,669 - 837,248 35,399,455
- - - - - 3,728
23,609,776 345,455 23,345,841 2,565,479 94,223,445 162,469,814
- - - - 2,223,059 12,223,059
- - - - 5,276,737 18,056,131
- - - - - 15,490,123
23,609,776 345,455 23,345,841 2,565,479 101,723,241 208,242,855
$ 25,093,576 $ 5,205,559 $ 52,531,441 $ 2,630,479 $ 112,507,919 $ 269,925,562
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, 2016
Fine &
Governmental
General
Forfeiture
Grants
Revenues:
Taxes
$ 21,002,833
$ 43,898,743
$ -
Licenses and Permits
-
-
-
Intergovernmental
12,059,728
84,096
6,943,750
Charges for Services
592,832
6,167,991
128,750
Fines and Forfeitures
8,387
78,576
-
Investment Income
64,294
371,636
7,738
Miscellaneous
771,075
1,250
22,521
Total Revenues
34,499,149
50,602,292
7,102,759
Expenditures:
Current:
General Government
27,142,579
550,000
-
Public Safety
1,406,357
50,025,538
462,839
Physical Environment
610,849
-
853,354
Transportation
132,479
-
3,683,132
Economic Environment
628,101
-
61,721
Human Services
7,174,162
-
1,708,504
Culture and Recreation
3,099,903
-
157,919
Court -Related
3,298,645
1,864,374
-
Capital Projects
-
-
-
Debt Service:
Principal -Refunded Debt
-
-
-
Principal
-
-
-
Interest
-
-
-
Total Expenditures
43,493,075
52,439,912
6,927,469
Excess/Deficiency of Revenues
Over (Under) Expenditures (8,993,926) (1,837,620) 175,290
Other Financing Sources (Uses):
Transfers from Other Funds 5,494,079 2,755,000 958,997
Transfers to Other Funds (271,425) (16,667) (50,000)
Refunding Bonds Issued - - -
Issuance of Debt - - -
Transfers from Constitutional Officers 5,174,439 1,516,758 -
Total Other Financing Sources (Uses) 10,397,093 4,255,091 908,997
Net Change in Fund Balances 1,403,167 2,417,471 1,084,287
Fund Balances -October 1 36,004,187 14,342,587 535,473
Restatement 865,891 - -
Fund Balances -October 1, restated 36,870,078 14,342,587 535,473
Fund Balances-September30 $ 38,273,245 $ 16,760,058 $ 1,619,760
The notes to the financial statements are an integral part of these statements.
C-3
One Cent Big Coppitt Cudjoe Regional All Nonmajor Total
Infrastructure Wastewater Wastewater Debt Service Governmental Governmental
Surtax Project Project Funds Funds Funds
$ 20,817,676 $
- $
- $
- $ 55,441,394
$ 141,160,646
-
325,648
13,207,840
- 5,401,924
18,935,412
-
-
1,558,862
- 7,508,410
28,154, 846
-
-
-
- 9,077,177
15,966,750
-
-
-
- 1,855,074
1,942,037
99,757
90,118
832,799
15,780 427,193
1,909,315
3,912
34,263
128,766
- 607,247
1,569,034
20, 921, 345
450,029
15, 728, 267
15,780 80, 318, 419
209, 638, 040
3,151, 363 30, 843, 942
25,192,347 77,087,081
- - - - 2,027,565
3,491,768
- - - - 5,267,722
9,083,333
- - - - 34,698,863
35,388,685
- - - - 99,948
8,982,614
- - - - 1,697,955
4,955,777
- - - - 402,966
5,565,985
12,401,693 32,665 41,677,918 - 2,293,374
56,405,650
- - - 16,000,000 - 16,000,000
- - - 5,154,694 - 5,154,694
- - - 1,623,566 - 1,623,566
12,401,693 32,665 41,677,918 22,778,260 74,832,103 254,583,095
8,519,652 417,364 (25,949,651) (22,762,480) 5,486,316 (44,945,055)
4,550,000 - 6 6,577,224 8,246,818 28,582,124
(16,428,714) (2,681,938) - - (7,394,734) (26,843,478)
- - - 16,065,000 - 16,065,000
- - 31,147,188 - - 31,147,188
- 964 3,075 - 1,225,480 7,920,716
(11,878,714) (2,680,974) 31,150,269 22,642,224 2,077,564 56,871,550
(3,359,062) (2,263,610) 5,200,618 (120,256) 7,563,880 11,926,495
26,968,838 2,609,065 18,145,223 2,685,735 94,159,361 195,450,469
- - - - - 865,891
26,968,838 2,609,065 18,145,223 2,685,735 94,159,361 196,316,360
$ 23,609,776 $ 345,455 $ 23,345,841 $ 2,565,479 $ 101,723,241 $ 208,242,855
C-4
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
GENERALFUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
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
Hurricane
Total General Government
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 21,602,431 $ 21,602,431 $ 21,002,833 $ (599,598)
10,176,660
10,267,671
12,059,728
1,792,057
751,300
821,300
592,832
(228,468)
13,000
13,000
8,387
(4,613)
87,000
87,000
64,294
(22,706)
522,819
583,617
771,075
187,458
33,153,210
33,375,019
34,499,149
1,124,130
1,747,944
1,688,341
1,608,822
79,519
5,000
5,000
-
5,000
100,000
50,000
25,439
24,561
161,931
161,931
161,931
-
2,647,860
2,647,860
2,647,860
-
142,157
135,833
103,995
31,838
5,000
5,000
100
4,900
35,000
35,000
29,145
5,855
300,000
265,147
265,147
-
10,000
10,000
-
10,000
100,000
155,132
145,548
9,584
816,225
950,044
942,481
7,563
1,784,673
1,841,112
1,754,738
86,374
338,000
338,000
284,763
53,237
189,474
174,474
140,542
33,932
477,982
451,142
385,713
65,429
202,264
111,264
90,723
20,541
463,360
499,118
430,976
68,142
66,425
65,723
9,759
55,964
6,710,830
6,434,386
5,866,927
567,459
10,000
10,000
(20)
10,020
1,712,400
1,654,906
1,407,381
247,525
4,387,461
5,191,452
4,850,422
341,030
4,221,584
4,194,841
3,983,117
211,724
1,778,205
1,778,205
1,778,205
-
130,000
230,000
228,168
1,832
100,000
100,000
697
99,303
28,643,775
29,183,911
27,142,579
2,041,332
The notes to the financial statements are an integral part of these statements. (Continued)
C-5
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
GENERALFUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Public Safety:
Emergency Management
Marathon Emergency Operations Center
Medical Examiner
Fire Academy
Fire & EMS LOSAP
Total Public Safety
Physical Environment:
Extension Service
Sustainability
Total Physical Environment
Transportation:
County Engineer
Total Transportation
Economic Environment:
Literacy Volunteers of America
Veterans Affairs
Veterans Affairs Transportation
Total Economic Environment
Human Services:
Middle Keys Guidance Clinic
Older Americans Volunteer Program
Domestic Abuse Shelter
Hospice of the Florida Keys
Florida Keys Outreach Coalition
Samuel's House
Womankind
Grace Jones
AIDS Help
Good Health Clinic
Monroe Co. Assoc. for ReMARCable Citizens
Florida Keys Children's Shelter
Wesley House
Florida Keys Area
Rural Health Network
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
305,937
302,989
291,279
11,710
79,155
78,685
25,417
53,268
650,510
646,605
635,282
11,323
619,650
613,928
423,329
190,599
38,000
38,000
31,050
6,950
1,693,252
1,680,207
1,406,357
273,850
212,351 210,583 194,380 16,203
539,028 539,028 416,469 122,559
751,379 749,611 610,849 138,762
294,250 294,250 132,479 161,771
294,250 294,250 132,479 161,771
30,000
30,000
30,000 -
484,407
482,025
465,342 16,683
134,819
134,819
132,759 2,060
649,226
646,844
628,101 18,743
41,424
41,424
41,424 -
500
500
- 500
30,000
30,000
29,544 456
141,000
141,000
141,000 -
70,000
70,000
70,000 -
100,000
100,000
100,000 -
130,000
130,000
130,000 -
45,000
45,000
45,000 -
45,000
45,000
45,000 -
83,500
83,500
83,500 -
169,500
169,500
169,500 -
189,000
189,000
189,000 -
170,958
170,958
170,958 -
50,000
50,000
50,000 -
136,902
136,902
136,902 -
(Continued)
The notes to the financial statements are an integral part of these statements.
C-6
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
GENERALFUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
SHAL
The Heron
Kids Come First - FL Keys
FL Keys Healthy Start Coalition
Keys Area Interdenominational Resources
Star of the Sea Foundation
Independence Cay
Anchors Aweigh
Baker Act LKMC FS 394.463
GCC Baker Act Transp
GCC SamH FS 394.76
GCC Jail Inhouse Program
Historic FL Keys Foundation
Animal Shelters
Welfare Administration
Welfare Services
Health Care Respite Act
Bayshore Manor
Social Service Transportation
Burton Memorial UMC
Keys to Be Change
Voices for the FL Keys CHI
Be the Change of the FL Keys
Total Human Services
Culture and Recreation:
Fine Arts Council
Lower Keys AARP
Middle Keys AARP
Big Pine Key AARP
Upper Keys AARP
Boys and Girls Club
Heart of the Keys Recreation
Higgs Beach Maintenance
Library Admin Support
Library Key West
Library Key West Donations
Library Marathon
Library Marathon Donations
Library Islamorada
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
50,000
50,000
42,850
7,150
47,000
47,000
47,000
-
33,000
33,000
32,714
286
33,000
33,000
33,000
-
30,000
30,000
30,000
-
80,000
80,000
80,000
-
30,000
30,000
30,000
-
20,000
20,000
20,000
-
83,334
83,334
62,500
20,834
145,000
145,000
143,677
1,323
690,000
690,000
665,084
24,916
116,617
133,284
128,119
5,165
32,450
32,450
32,450
-
1,142,946
1,142,946
1,071,078
71,868
594,021
591,716
563,892
27,824
1,002,500
1,002,500
958,936
43,564
46,019
46,019
4,009
42,010
833,560
822,319
768,479
53,840
941,262
924,705
984,406
(59,701)
10,000
10,000
10,000
-
-
60,000
60,000
-
5,000 5,000 4,140 860
60,000 - - -
7,428,493 7,415,057 7,174,162 240,895
69,300
4,500
4,500
4,500
4,500
99,000
40,000
88,046
737,759
775,767
2,500
352,093
1,000
307,932
69,300
4,500
4,500
4,500
4,500
99,000
40,000
87,335
712,851
759,401
144,913
343,247
13,974
300,766
69,300
2,156
4,191
2,867
1,047
99,000
40,000
87,173
640,416
723,142
54,824
314,380
6,822
275,752
2,344
309
1,633
3,453
162
72,435
36,259
90,089
28,867
7,152
25,014
The notes to the financial statements are an integral part of these statements. (Continued)
C-7
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
GENERALFUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Library Islamorada Donations
Library Key Largo
Library Key Largo Donations
Library Big Pine Key
Library Big Pine Key Donations
Total Culture and Recreation
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
Court Case Management
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
Total Expenditures
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
500
1,589
125
1,464
441,730
431,185
418,740
12,445
500
1,738
-
1,738
372,146
367,606
359,082
8,524
1,000
11,141
886
10,255
3,307,273
3,402,046
3,099,903
302,143
68,998
68,998
67,545
1,453
193,492
193,492
139,482
54,010
13,671
13,671
13,671
-
15,028
15,028
15,028
-
41,905
41,905
41,905
-
133,787
133,787
133,787
-
97,668
97,668
97,668
-
26,020
26,020
26,020
-
16,311
16,311
16,311
-
18,161
18,161
18,161
-
111,812
111,812
111,812
-
44,916
44,916
44,916
-
130,862
130,862
130,862
-
327,038
325,537
261,697
63,840
692,049
684,134
623,503
60,631
2,532
2,516
1,743
773
132,856
137,124
133,072
4,052
210,160
173,576
161,386
12,190
1,675
1,675
1,638
37
399,748
409,955
389,382
20,573
538,277
551,133
519,300
31,833
161,746
163,595
140,509
23,086
215,318
215,007
209,247
5,760
3,594,030
3,576,883
3,298,645
278,238
46,361,678 46,948,809 43,493,075 3,455,734
Excess/Deficiency of Revenues
Over (Under) Expenditures (13,208,468) (13,573,790) (8,993,926) 4,579,864
The notes to the financial statements are an integral part of these statements. (Continued)
C-8
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
GENERALFUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
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
Restatement
Fund Balances -October 1, restated
Fund Balances, September 30
Original Final
Budget Budget Actual
Variance with
Final Budget
Positive
(Negative)
(429,887)
(31,232)
-
31,232
(7,783,353)
(7,783,353)
-
7,783,353
5,477,412
5,494,079
5,494,079
-
(267,500)
(317,500)
(271,425)
46,075
4,100,000
4,100,000
5,174,439
1,074,439
1,096,672
1,461,994
10,397,093
8,935,099
(12,111,796) (12,111,796) 1,403,167 13,514,963
12,111,796 12,111,796 36,004,187 23,892,391
- - 865,891 865,891
12,111,796 12,111,796 36,870,078 24,758,282
$ 38,273,245 $ 38,273,245
The notes to the financial statements are an integral part of these statements.
C-9
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
FINE AND FORFEITURE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Taxes
Intergovernmental
Charges for Services
Fines and Forfeitures
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
General Government:
Tax Increment Payment
Total General Government
Public Safety:
Sheriff Law Enforcement
Sheriff Corrections
Bond Refunds
LEEA Funds
Correction Facilities
Medical Air Transport
Interagency Communications
Juvenile Detention Cost Share
Total Public Safety
Court Related:
Sheriff Extradition
Sheriff Court Security
Total Court Related
Total Expenditures
Original Final
Budget Budget
Variance with
Final Budget
Positive
Actual (Negative)
$ 46,293,808 $ 46,293,808 $ 43,898,743 $ (2,395,065)
-
-
84,096
84,096
4,246,500
4,246,500
6,167,991
1,921,491
81,500
81,500
78,576
(2,924)
85,000
85,000
371,636
286,636
2,500
2,500
1,250
(1,250)
50,709,308
50,709,308
50,602,292
(107,016)
550,000 550,000 550,000 -
550,000 550,000 550,000 -
21,135,515
23,745,515
23,342,409
403,106
21,724,224
21,869,224
21,372,784
496,440
25,000
25,000
-
25,000
75,000
75,000
75,000
-
1,928,757
1,928,757
1,582,797
345,960
3,148,956
3,148,956
2,985,978
162,978
472,013
472,013
445,212
26,801
373,000
373,000
221,358
151,642
48,882,465
51,637,465
50,025,538
1,611,927
50,000 50,000 40,422 9,578
1,871,959 1,871,959 1,823,952 48,007
1,921,959 1,921,959 1,864,374 57,585
51,354,424 54,109,424 52,439,912 1,669,512
Excess/Deficiency of Revenues
Over (Under) Expenditures (645,116) (3,400,116) (1,837,620) 1,562,496
(Continued)
The notes to the financial statements are an integral part of these statements.
C-10
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
FINE AND FORFEITURE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
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
Original Final
Budget Budget Actual
Variance with
Final Budget
Positive
(Negative)
(373,870)
(373,870)
-
373,870
(5,079,462)
(5,079,462)
-
5,079,462
(16,667)
(16,667)
(16,667)
-
-
2,755,000
2,755,000
-
1,300,000
1,300,000
1,516,758
216,758
(4,169,999)
(1,414,999)
4,255,091
5,670,090
(4,815,115) (4,815,115) 2,417,471 7,232,586
4,815,115 4,815,115 14,342,587 9,527,472
Fund Balances, September 30 $ - $ - $ 16,760,058 $ 16,760,058
The notes to the financial statements are an integral part of these statements.
C-11
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
GOVERNMENTAL GRANTS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Revenues:
Intergovernmental
Charges for Services
Investment Income
Miscellaneous
Total Revenues
Expenditures:
Current:
Public Safety:
Emergency Management Base Grant
Federal Emergency Base Grant 03
Federal Emergency Base Grant 04
Radiological Emerg. Preparedness
EMS Award Grant
DOJ DC Medical Director Initiative
Go Solar Program ILA
SHSGP 14DS-P5-11-54-01
UASI 14 Grant
UASI 15 Grant
Total Public Safety
Physical Environment:
MC Canal Mstr Pln Edu Pgm
Exotic Plant Removal Crew 14
Exotic Plant Removal Crew 15
4-H Donations
DEP Clean Vessel Act
DEP Mobile Vessel Pumpout
FWC MC Removal Vessels
FWC MC Waterway Maker
FL Keys Youth Council
DEP MV205 Mobile Vessels
DEP MV204 Mobile Vessels
Total Physical Environment
Transportation:
Variance with
Final Budget
Original Final
Positive
Budget Budget
Actual
(Negative)
$ - $ 16,961,094
$ 6,943,750
$ (10,017,344)
- 141,896
128,750
(13,146)
- -
7,738
7,738
- -
22,521
22,521
- 17,102,990
7,102,759
(10,000,231)
- 211,612
103,692
107,920
- 32,322
22,212
10,110
- 66,592
38,087
28,505
- 141,896
138,366
3,530
- 43,000
8,815
34,185
- 12,795
12,795
-
- 150,000
-
150,000
- 21,250
18,750
2,500
- 120,165
120,122
43
- 96,925
-
96,925
- 896,557
462,839
433,718
- 19,543
8,367
11,176
- 70,000
69,862
138
- 85,000
85,000
-
- 13,645
13,630
15
- 333,333
225,900
107,433
- 100,000
100,000
-
- 99,924
95,265
4,659
- 93,705
-
93,705
- 73,910
72,880
1,030
- 500,000
125,000
375,000
- 229,800
57,450
172,350
- 1,618,860
853,354
765,506
Old SR940 Leg A Bridge Repair - 46,034 - 46,034
No Name Key Bridge #904320 - 3,520,731 1,135,526 2,385,205
Card Sound Bridge Repair - 51301,726 1,459,241 3,842,485
(Continued)
The notes to the financial statements are an integral part of these statements.
C-12
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
GOVERNMENTAL GRANTS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Transp Planning Prog 2012
Pigeon Key Ferry Service
Scenic Highway Overlooks
Ped Brg Ovr M Adams Wtrwy
Garrison Bight Bridge
Pigeon Key Ferry Ramp Repair
Total Transportation
Economic Environment:
Disaster Recovery CDBG
Small Cities CDBG 2010
Total Economic Environment
Human Services:
Nutritional Services In Progress
GCC Male Jail inhouse Program
Title IIIC1 Congregate Meals - 2016
Title IIIC2 Home Delivered Meals-2016
Title III-E Caregiver Support Svc-2016
Low Income Home Energy Program 2015
Low Income Home Energy Program 2016
Alzheimer's Disease Initiative 14/15
Alzheimer's Disease Initiative 15/16
Community Care Disabled Adults
Community Care for the Elderly 14/15
Community Care for the Elderly 15/16
Home Care for the Elderly 14/15
Home Care for the Elderly 15/16
SHIP to WAP
WAP Grant
Title IIIB Supportive Services - 2015
Title IIIC1 Congregate Meals - 2015
Title IIIB Supportive Services - 2016
Title IIIC2 Home Delivered Meals-2015
Title III-E Caregiver Support Svc-2015
Sh Crt Mand Crm/ Sub Abuse
GCC Heron Reduce Crime
Weather Asst Prgm 03
Total Human Services
Original Final
Budget Budget Actual
Variance with
Final Budget
Positive
(Negative)
- 566,532
101,905
464,627
- 404,213
231,250
172,963
- 1,126,553
29,732
1,096,821
- 475,000
475,000
-
- 260,000
170,507
89,493
- 120,459
79,971
40,488
- 11,821,248
3,683,132
8,138,116
175,822 - 175,822
414,757 61,721 353,036
590,579 61,721 528,858
- 30,273
1,736
28,537
- 37,331
33,940
3,391
- 165,172
129,131
36,041
- 247,434
217,100
30,334
- 142,377
63,776
78,601
- 86,686
76,856
9,830
- 199,740
127,993
71,747
- 120,301
115,630
4,671
- 182,942
36,138
146,804
- 190,282
94,697
95,585
- 353,276
333,010
20,266
- 459,667
154,722
304,945
- 9,799
9,689
110
- 11,779
4,368
7,411
- 80,937
22,756
58,181
- 70,207
-
70,207
- 9,374
2,338
7,036
- 37,362
33,746
3,616
- 125,034
120,401
4,633
- 67,988
65,566
2,422
- 19,205
15,494
3,711
- 4,125
4,125
-
- 42,515
42,515
-
- 2,777
2,777
-
- 2,696,583
1,708,504
988,079
(Continued)
The notes to the financial statements are an integral part of these statements.
C-13
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
GOVERNMENTAL GRANTS SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Culture and Recreation:
State Aid to Libraries
Lower Keys Scenic VW Area
HFKF MC Cult Res
Rowell's Marina Sc Overlook
Total Culture and Recreation
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)
- 120,713
78,061
42,652
- 82,850
40,758
42,092
- 39,100
39,100
-
- 130,000
-
130,000
- 372,663
157,919
214,744
- 17,996,490 6,927,469 11,069,021
- (893,500) 175,290 1,068,790
2,962,491 958,997 (2,003,494)
(2,068,991) (50,000) 2,018,991
893,500 908,997 15,497
1,084,287 1,084,287
535,473 535,473
$ 1,619,760 $ 1,619,760
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, 2016
ASSETS
Current Assets:
Cash and Cash Equivalents
Investments
Accounts Receivable, Net
Due from Other Funds
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
Other Current Liabilities
Deposits in Escrow
Total Current Liabilities
Business -type Activities Enterprise Funds
Major Funds
Municipal Card Key
Service District Sound West
Waste Bridge Airport
$ 2,367,998 $
737,601 $
2,948,120
11,226,375
5,450,813
662,874
22,304
40
547,848
-
-
175,611
105,983
-
127,519
4,112
-
39,409
25,472
12,772
1,858
13,752,244
6,201,226
4,503,239
1,766,307 -
3,720,200
50,000
1,328,425
581,808
7,156,415
58,858,049
6,068,315
7,206,415
60,186,474
19,820,559 13,407,641 64,689,713
281,085 173,991 1,026,428
1,247,957 1,590 275,462
- - 14,493
- 246,212 -
2,358 1,041 12,061
- 178 -
21,589 14,633 36,355
- - 13,626
- - 498
52,165 - 8,000
1,324,069 263,654 360,495
The notes to the financial statements are an integral part of these statements.
C-15
Governmental
Major Funds Activities
PFC Internal
Operations & Marathon Service
Restrictions Airport Total Funds
$ 329,782 $ 262,603
$ 6,646,104
$ 4,640,107
- 1,053,759
18,393,821
17,326,049
- 26,752
596,944
15,162
- 17,390
193,001
-
33,321 202,485
469,308
94,735
- -
43,521
279,530
- 2,964
43,066
49,768
363,103 1,565,953
26,385,765
22,405,351
5,861,477 157,591
7,785,375 -
197,041 -
197,041 -
- 1,524,285
6,622,910 54,000
- 10,204,108
76,800,380 838,085
6,058,518 11,885,984
91,405,706 892,085
6,421,621 13,451,937 117,791,471 23,297,436
- 90,817 1,572,321 416,894
73,530 352,488 1,951,027 1,692,712
- 26,184 40,677 -
- - - 8,575
1 700 361
193,001 -
439,213
417,183
- 3,232
18,692
286
- -
178
6,399
- 5,365
77,942
26,940
- 3,459
17,085
-
- -
498
-
- 6,306
66,471
-
266,531 397,034
2,611,783
3,852,456
(Continued)
C-16
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF NET POSITION (CONTINUED)
PROPRIETARY FUNDS
SEPTEMBER 30, 2016
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
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
Service District Sound West
Waste Bridge Airport
175,531
-
-
86,356
58,530
145,419
129,632
-
-
565,934
325,936
591,086
809,009
506,099
2,633,908
1,766,462
890,565
3,370,413
3,090,531 1,154,219 3,730,908
15,798 9,702 62,754
4,302,008 7,206,415 60,186,474
1,766,307
10,927,000 5,211,296 1,736,005
$ 16,995,315 $ 12,417,711 $ 61,922,479
The notes to the financial statements are an integral part of these statements.
C-17
Major Funds
PFC
Operations & Marathon
Restrictions Airport
Total
Governmental
Activities
Internal
Service
Funds
- -
175,531
-
- 21,457
311,762
107,769
- -
129,632
-
- 379,385
1,862,341
966,279
- 282,550
4,231,566
1,189,690
- 683,392
6,710,832
2,263,738
266,531 1,080,426 9,322,615 6,116,194
- 5,183 93,437 23,089
11,728,393 83,423,290 892,085
5,825,308 - 5,825,308 -
- - 1,766,307 -
- 157,591 157,591 -
329,782 571,161 18,775,244 16,682,962
$ 6,155,090 $ 12,457,145 $ 109,947,740 $ 17,575,047
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, 2016
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
(Loss) on Disposition of Assets
Business -type Activities Enterprise Funds
Major Funds
Municipal
Card
Key
Service District
Sound
West
Waste
Bridge
Airport
$ 473,600 $ - $ -
17, 795,448 1,148,222 7,131,120
- - 336
44,295 2,400 1,565
18,313,343 1,150,622 7,133,021
1,251,221
807,438
2,593,981
16,735,119
375,398
5,440,279
90,905
340,516
2,475,888
18,077,245
1,523,352
10,510,148
236,098 (372,730) (3,377,127)
181,818 - 1,263,595
66,719 25,757 9,965
(11,243) (5,565) (42,400)
Total Non -Operating Revenues (Expenses) 237,294 20,192 1,231,160
Income (Loss) Before
Contributions and Transfers
Transfers from Other Funds
Transfers to Other Funds
Transfers from Constitutional Officers
Change in Net Position
Net Position -October 1
Net Position -September 30
473,392 (352,538) (2,145,967)
- - 198,970
(263,190) (514,503) (331,280)
4,100 - -
214,302 (867,041) (2,278,277)
16,781,013 13,284,752 64,200,756
$ 16,995,315 $ 12,417,711 $ 61,922,479
The notes to the financial statements are an integral part of these statements.
C-19
Governmental
Major Funds Activities
PFC Internal
Operations & Marathon Service
Restrictions Airport Total Funds
$ 473,600 $ -
- 968,966 27,043,756 22,061,021
- - 336 -
- 332 48,592 203,662
- 969,298 27,566,284 22,264,683
- 364,667
5,017,307
1,881,824
873,420 853,245
24,277,461
4,595,278
- 627,885
3,535,194
65,345
- -
-
19,117,602
873,420 1,845,797
32,829,962
25,660,049
(873,420) (876,499) (5,263,678) (3,395,366)
787,095 626,031 2,858,539 -
- 44,000 44,000 -
1,355,386 169,928 1,525,314 -
25,333 6,198 133,972 78,607
- - - 1,139,578
- (7,868) (67,076) (57,236)
2,167,814 838,289 4,494,749 1,160,949
1,294,394 (38,210) (768,929) (2,234,417)
- 17,390 216,360 -
(216,360) (50,153) (1,375,486) (579,520)
- - 4,100 -
1,078,034 (70,973) (1,923,955) (2,813,937)
5,077,056 12,528,118 111,871,695 20,388,984
$ 6,155,090 $ 12,457,145 $ 109,947,740 $ 17,575,047
C-20
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Operating Activities:
Cash Received for Services
Cash Received from Other Funds for Goods and Services
Cash Received from Insurance Recoveries
Cash Payments to Suppliers for Goods and Services
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 by (Used in) Noncapital
Financing Activities
Capital and Related Financing Activities:
Proceeds from Capital Grants
Acquisition of Capital Assets
Net Cash Provided by (Used in) Capital and
Related Financing Activities
Investing Activities:
Business -Type Activities Enterprise Funds
Major Funds
Municipal Card Key
Service District Sound West
Waste Bridge Airport
$ 18,577,310 $
(16,686,390)
(1,233,157)
(969)
35,276
692.070
1,148,182 $ 7,536,227
245,962 2,305
(393,788) (5,473,471)
(803,725) (2,566,732)
- (1,205,065)
- 1,368
196,631 (1,705,368)
181,818 - 1,263,595
- - 198,970
(263,190) (514,503) (331,280)
4,100 - -
(77,272) (514,503) 1,131,285
(403,176) (72,612) (645,768)
(403,176) (72,612) (645,768)
Investment Income
66,719
25,757
9,965
Proceeds from Sales and Maturities of Investments
6,926,803
3,693,186
1,704,559
Purchase of Investment Securities
(8,654,454)
(4,299,253)
(892,651)
Net Cash Provided by (Used in) Investing Activities
(1,660,932)
(580,310)
821,873
Net Increase (Decrease) in Cash and
Cash Equivalents
(1,449,310)
(970,794)
(397,978)
Cash and Cash Equivalents:
October 1
5,583,615
1,708,395
3,346,098
September 30
$ 4,134,305
$ 737,601
$ 2,948,120
The notes to the financial statements are an integral part of these statements.
C-21
Governmental
Major Funds Activities
PFC Internal
Operations & Marathon Service
Restrictions Airport Total Funds
$ 205,133 $ 961,825
$ 28,428,677
$ 22,057,688
390,690 80,488
719,445
438,315
- -
-
1,139,578
(1,126,125) (701,414)
(24,381,188)
(4,803,494)
- (354,093)
(4,957,707)
(1,888,490)
- (35,244)
(1,241,278)
(28,589)
- -
-
(19,451,738)
- -
36,644
190,447
(530,302) (48,438) (1,395,407) (2,346,283)
787,095 670,031 2,902,539 -
- 17,390 216,360 -
(216,360) (50,153) (1,375,486) (579,520)
- - 4,100 -
570,735 637,268 1,747,513 (579,520)
1,355,386 169,928 1,525,314 -
- (743,260) (1,864,816) (18,794
1,355,386 (573,332) (339,502) (18,794)
25,333 6,198 133,972 78,607
- 258,613 12,583,161 10,781,851
- (697,001) (14,543,359) (13,383,664)
25,333 (432,190) (1,826,226) (2,523,206)
1,421,152 (416,692) (1,813,622) (5,467,803)
4,770,107 836,886 16,245,101 10,107,910
$ 6,191,259 $ 420,194 $ 14,431,479 $ 4,640,107
(Continued)
C-22
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF CASH FLOWS (CONTINUED)
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
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 Funds
(Increase) Decrease in Due from Other Gov't Units
(Increase) Decrease in Due from Constitutional Ofcrs
(Increase) Decrease in Interest Receivable
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:
(Loss) on Disposition of Assets
Change in Fair value of Investments
Cash Reconciliation:
Unrestricted
Restricted
Total
Business -Type Activities Enterprise Funds
Major Funds
Municipal Card Key
Service District Sound West
Waste Bridge Airport
$ 236,098 $ (372,730) $ (3,377,127)
90,905
340,516
2,475,888
399,171
(40)
401,281
-
-
(175,611)
(3,554)
-
45,866
(133)
-
132,050
(9,019)
(4,379)
(533)
49,300
(16,411)
(47,685)
-
-
14,493
(60,702)
(39,240)
(134,722)
(335)
246,113
(1,205,584)
(634)
297
519
-
(448)
-
18,230
6,049
12,153
1,550
-
-
1,566
-
-
(90,909)
-
3,826
25,934
14,936
27,086
297,860
183,812
1,125,108
(199,622)
(123,300)
(760,229)
(63,636)
(38,544)
(242,147)
455,972
569,361
1,671,759
$ 692,070 $ 196,631 $ (1,705,368)
$ (11,243) $ (5,565) $ (42,400)
$ 52,698 $ 26,179 $ 5,435
$ 2,367,998 $ 737,601 $ 2,948,120
1,766,307 - -
$ 4,134,305 $ 737,601 $ 2,948,120
The notes to the financial statements are an integral part of these statements.
C-23
Major Funds
PFC
Operations & Marathon
Restrictions Airport Total
Governmental
Activities
Internal
Service
Funds
$ (873,420) $ (876,499) $ (5,263,678) $ (3,395,366)
- 627,885 3,535,194 65,345
- - - 1,139,578
205,133
7,997
1,013,542
(3,333)
-
(17,390)
(193,001)
-
197,689
97,878
337,879
3,589
-
-
131,917
(17,250)
-
(846)
(14,777)
(13,923)
(155,213)
243,699
73,690
(207,508)
(97,492)
(91,354)
(174,353)
-
(20,547)
(255,211)
(90,554)
-
-
-
(334,136)
193,001
(93)
(766,898)
416,978
-
(35,151)
(34,969)
10
-
-
(448)
6,399
-
2,394
38,826
(11,586)
-
-
1,550
-
-
-
1,566
-
-
(15,138)
(102,221)
-
-
17,385
85,341
44,279
-
96,817
1,703,597
439,261
-
(60,886)
(1,144,037)
(298,891)
-
(24,589)
(368,916)
(89,175)
343.118
828.061
3.868.271
1.049.083
$ (530,302) $ (48,438) $ (1,395,407) $ (2,346,283)
$ - $ (7,868) $ (67,076) $ (57,236)
$ - $ 4,244 $ 88,556 $ 81,494
$ 329,782 $ 262,603 $ 6,646,104 $ 4,640,107
5,861,477 157,591 7,785,375 -
$ 6,191,259 $ 420,194 $ 14,431,479 $ 4,640,107
C-24
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
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 (the "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 (the "County") is a Non -Charter County established as provided by Article VIII
Section 1 of the Florida Constitution and Section 125 of the Florida Statutes. The primary government
of the County is comprised of the Board of County Commissioners and five "constitutional officers":
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, presented in the Monroe
County, Florida Comprehensive Annual Financial Report.
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 the 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, excluding those of the Property Appraiser, Sheriff, Tax
Collector, Clerk of the Circuit Court and Supervisor of Elections, each of which maintains its own
respective 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, 2016
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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.
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 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,
liabilities, or transactions during the current year.
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 their legal separation 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. The objectives of the entity are to
operate a land acquisition program in Monroe County, implement the Monroe County
Comprehensive Plan and address issues created by it. The Monroe County Board of County
Commissioners serves as the governing board; however, 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, 2016
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 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, 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 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 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, 2016
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 (PFC) 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 Florida Keys Marathon International Airport.
The Board also reports the following fund types:
Internal Service Funds — Internal service funds are used to account for the financing of
workers' compensation insurance, health insurance, general liability insurance and fleet
maintenance services provided by one department to other departments of the Board or to other
governmental units on a cost reimbursement basis.
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.
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.
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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 type, 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 type, 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 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.
The County has chosen to fund the Volunteer Firefighter and Emergency Medical Services Length of
Service Award Pension Plan (LOSAP) on a pay-as-you-go basis. Pension expenditures are made from
the General Fund, which is maintained on the modified accrual basis of accounting. Benefits and refunds
are recognized when due and payable in accordance with the terms of the plan.
The LOSAP has no assets accumulated in a trust that meets the following criteria, outlined in GASB
Statements 67 and 68:
• Contributions to the pension plan and earnings on those contributions are irrevocable.
• Pension plan assets are dedicated to providing benefits to plan members.
• Pension plan assets are legally protected from the creditors or employers.
Method Used to Value LOSAP Investments — No funds are set aside to pay benefits and administration
costs. These expenditures are paid as they become due.
D-5
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating
revenues and expenses generally result from providing services and producing and delivering goods in
connection with a proprietary fund's principal ongoing operations. The principal operating revenues of
the 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.
Budgets and Budgetary Data — Listed below 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 Property
Appraiser, 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 said
expenditures.
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.
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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 year-end. The Board's
intention is to substantially honor these encumbrances under authority provided in the subsequent year's
budget.
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. Therefore, all balances
representing participants' equity in the investment pools are classified as cash equivalents for purposes
of these statements. For investments, held separately from the pools, and are highly liquid (including
restricted assets) with an original or remaining maturity of 90 days or less, are considered 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 Mac) 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.
D-7
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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.
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 or at amortized cost, which approximates 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 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. Interfund balances and transfers are consolidated for government -wide financial reporting,
and residual balances between governmental activities and business type activities, if any, are reported
on the government wide Statements of the County.
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.
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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.
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- 5 0
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.
The Monroe County Land Authority also has intangible assets consisting of affordable rental housing
restrictions applicable to Peary Court in Key West. These restrictions require the housing at Peary Court
to be rented at or below the levels set by the City of Key West's Workforce Housing Ordinance.
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, followed by unrestricted resources, as they
are needed. Restricted assets are classified as noncurrent if they are for acquisition or construction of
capital assets, for liquidation of long-term debt, or are for other than current operations.
=6
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 1— SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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 therefore 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.
Deferred Outflows of Resources — Represents an acquisition of net position 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 2016 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.
D-10
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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 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.
Assigned — Include amounts 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 — 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.
D-11
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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 $7,749,206 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 — During the fiscal year ended September 30, 2016, the County
implemented the following GASB Pronouncements:
GASB Statement No. 72, Fair Value Measurement and Application. Effective October 1, 2015, this
Statement establishes accounting and financial reporting standards for fair value measurements, the level
of fair value hierarchy, and valuation techniques. Implementation did not result in a change in valuation;
however, Note 2, Cash, Cash Equivalents and Investments, has been modified to provide the new
disclosures required by this Statement.
GASB Statement No. 73, Accounting and Financial Reporting for Pensions and Related Assets that are
not within the Scope of GASB Statement 68, and Amendments to Certain Provisions of GASB Statements
67 and 68. Effective October 1, 2015, this Statement was issued to improve the usefulness of
information about pensions included in the general purpose external financial reports of state and local
governments for making decisions and assessing accountability. See Note 23 for further information on
the implementation of this Statement.
GASB Statement No. 76, The Hierarchy of Generally Accepted Accounting Principles for State and
Local Governments. Issued June 2015, this Statement reduces the GAAP hierarchy into two categories
of authoritative GAAP and addresses the use of authoritative and non -authoritative literature in the event
that the accounting treatment for a transaction or other event is not specified within a source of
authoritative GAAP.
GASB Statement No. 79, Certain External Investment Pools and Pool Participants. Issued December
2015, this Statement addresses accounting and financial reporting for certain external investment pools
and pool participants. Note 2, Cash, Cash Equivalents and Investments, has been modified to provide
the new disclosures required by this Statement.
D-12
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 2 — CASH, CASH EQUIVALENTS AND INVESTMENTS
The Board maintains a cash and investment pool 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, 2016, the carrying value of the Board's deposits and investments, with their
respective credit ratings, are as follows:
Credit
Investment Type Rating
Valuation
Measurement Less than 6 6 Months to 1
Method Fair Value Months Year 1 to 3 Years
Demand and Time Deposits
N/A N/A
$ 85,086,192
$ 85,086,192-
Equity Securities
N/A Fair Value - Level 1
10,354
10,354 - -
US Treasury Notes
AA+ Fair Value - Level
111,027,289
48,208,459 29,052,395 33,766,435
Federal Agency Bond / Note
AA+ Fair Value - Level
49,556,252
8,958,817 10,529,832 30,067,603
Total Fair Value
$ 245,680,087
$ 142,263,822 $ 39,582,227 $ 63,834,038
The Board categorizes its fair value measurements within the fair value hierarchy established by
generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure
the fair value of the asset. Level 1 securities are valued using direct observable unadjusted quoted prices
in active markets for identical assets. Level 2 securities are valued using observable inputs other than
quoted market prices in active markets.
The Florida Local Government Surplus Trust Fund (Florida PRIME) maintains a stable net asset value
and is amortized at cost. There are no restrictions or limitations on withdrawals; however, Florida
PRIME may, on the occurrence of an event that has a material impact on liquidity or operations, impose
restrictions on withdrawals for up to 48 hours.
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.
D-13
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 2 — CASH, CASH EQUIVALENTS AND INVESTMENTS (continued)
Concentration of Credit Risk — The Policy establishes limitations on portfolio composition, by both
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 Tvpe Portfolio Maximum
Florida Prime (SBA)
100%
United States Treasury Securities
100%
United States Government Agencies
50%
Federal Instrumentalities Maximum in callable securities
80%
Interest -bearing Time Deposit or Savings Accounts
10%
Money Market Mutual Funds
20%
Intergovernmental Investment Pool
10%
Maximum in Anv One Issuer
N/A
N/A
10%
30%, with a maximum of 25% in callable securities
10%
10%
N/A
At September 30, 2016, 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 (FHLB) 6.25 %
Federal National Mortgage Association (FNMA) 9.98%
Federal Home Loan Mortgage Corporation (FHLMC) 14.63 %
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, 2016, 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.
D-14
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 2 — CASH, CASH EQUIVALENTS AND INVESTMENTS (continued)
Restricted Cash and Cash Equivalents — The Board has the following unrestricted and restricted cash
and cash equivalents at September 30, 2016:
Unrestricted Cash & Cash Equivalents:
Governmental Activities:
Governmental Funds
Internal Service Funds
Business -Type Activities
Total Unrestricted Cash & Cash Equivalents
Restricted Cash and Cash Equivalents:
Business -Type Activities
Total Cash and Cash Equivalents
NOTE 3 — RESTRICTED ASSETS
Local
Government
Surplus Trust
Fund
7,151
7,151
Demand
Deposits
$ 66,014,606
4,640,107
6,638,953
77,293,666
Total
$ 66,014,606
4,640,107
6,646,104
77,300,817
7,785,375 7,785,375
$ 7,151 $ 85,079,041 $ 85,086,192
Restricted assets in the Enterprise Funds include those assets 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, 2016 are as follows:
Municipal District Waste
Landfill Closure Escrow
PFC Oper & Restrictions
Passenger Facility Charge
Marathon Airport
Customs Service Operations
Cash and Cash
Equivalents
Accounts
Receivable Total
$ 1,766,307 $ - $ 1,766,307
5,861,477 197,041 6,058,518
157,591 - 157,591
$ 7,785,375 $ 197,041 $ 7,982,416
D-15
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
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:
Allowance for
Accounts Uncollectible Accounts
Service Provided Receivable Accounts Receivable, Net
Governmental Activities:
General Fund
Fine & Forfeiture Fund
Governmental Grants
One Cent Infrastructure
Nonmajor Funds:
Fire & Amb Dist 1 Fund
Other Nonmajor Funds
Internal Service Funds
Total Governmental Activities
Business -Type Activities:
MSD-Waste Fund:
Card Sound Bridge
Key West Airport
Marathon Airport
Total Business -Type Activities
Total Accounts Receivable
Misc
$ 20,160
$ -
$ 20,160
Air Amb Svc
11,132,965
9,766,915
1,366,050
Misc
261
-
261
Misc
80
-
80
Ground Amb Svc
2,613,504
2,606,792
6,712
Misc
2,565
-
2,565
Misc
15,162
-
15,162
13,784,697
12,373,707
1,410,990
Tipping Fees
24,355
2,904
21,451
Waste Assessments
8,139
7,326
813
Solid Waste
40
-
40
Misc
40
-
40
Rent, Misc
547,848
-
547,848
Misc
26,752
-
26,752
607,174
10,230
596,944
$ 14,391,871 $ 12,383,937 $ 2,007,934
The Board of County Commissioners voted to approve air and ground ambulance billing write offs of
$875,822 and $360,837 for fiscal year 2016.
D-16
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
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 added to their real estate tax bills. Revenue is recognized on the modified accrual basis.
Any remaining assessment owed is recorded as a receivable with an offset to deferred inflows of
resources for those amounts that are not available.
NOTE 6 — MORTGAGES RECEIVABLE
Mortgages receivable at September 30, 2016 consist of the following:
or 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. $ 496,531
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. 45,244
D-17
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 6 — MORTGAGES RECEIVABLE (continued)
Nonmaj or 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. 7,599,844
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. 110,964
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. 212,123
Total Nonmajor Governmental Funds -Local Housing Assistance 8,476,848
Total Mortgages Receivable $ 8,973,379
IM
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 6 — MORTGAGES RECEIVABLE (continued)
The mortgages receivable associated with the governmental grants are offset by an allowance for
uncollectible accounts of $496,531. As the mortgages receivable associated with the Local Housing
Assistance fund are intended to ultimately be forgiven, an allowance for uncollectible accounts of
$8,476,848 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, 2016 is as follows:
Governmental Activities
Capital assets not depreciated:
Land
Construction in progress
Total capital assets not depreciated
Capital assets depreciated:
Buildings
Equipment
Infrastructure
Capacity rights
Total capital assets depreciated
Less accumulated depreciation for:
Buildings
Equipment
Infrastructure
Capacity rights
Total accumulated depreciation
Total capital assets depreciated, net
Governmental funds, capital assets, net
Beginning
Balances Additions
Reductions Ending Balances
$ 74,315,911 $ 451,504 $ - $ 74,767,415
153,949,344 54,486,856 (161,516,740) 46,919,460
228,265,255 54,938,360 (161,516,740) 121,686,875
157,230,514 2,875,867
29,602,549 4,322,722
107,098,178 155,581,515
3,150,000 -
(1,193,091)
160,106,381
32,732,180
262, 679, 693
3,150,000
297,081,241 162,780,104 (1,193,091) 458,668,254
(58,202,731) (3,284,831)
(21,272,667) (3,066,762)
(34,384,786) (2,584,616)
(349,998) (31,818)
(114,210,182) $ (8,968,027)
182,871,059
$ 411,136,314
D-19
- (61,487,562)
1,240,498 (23,098,931)
- (36,969,402)
(381,816)
$ 1,240,498 (121,937,711)
336,730,543
$ 458,417,418
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
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
1,729,464
1,376,457
(2,130,617)
975,304
7,377,070
1,376,457
(2,130,617)
6,622,910
212,925
-
-
212,925
57,021,105
1,747,898
-
58,769,003
5,004,515
501,513
(624,767)
4,881,261
55,411,637
382,719
-
55,794,356
117,650,182
2,632,130
(624,767)
119,657,545
(212,925)
-
-
(212,925)
(13,828,192)
(1,495,144)
-
(15,323,336)
(3,911,239)
(390,376)
551,153
(3,750,462)
(21,914,153)
(1,656,289)
-
(23,570,442)
(39,866,509)
$ (3,541,809)
$ 551,153
(42,857,165)
77,783,673
76,800,380
$ 85,160,743
$ 83,423,290
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
$ 2,050,349
Municipal Service District -Waste
$ 90,905
Public Safety
2,359,287
Card Sound Bridge
340,516
Physical Environment
1,071,430
Key West Airport
2,475,888
Transportation
1,663,320
Marathon Airport
627,885
Economic Environment
29,919
Human Services
203,100
Total Business -Type Activities
$ 3,535,194
Culture and Recreation
405,300
Court Related
723,245
Total Governmental Activities
$ 8,505,950
The total depreciation expense reported in the table above, does not equal the additions to accumulated
depreciation due to transfers of equipment and its associated accumulated depreciation between
governmental and proprietary funds.
D-20
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 8 — POST EMPLOYMENT BENEFITS OTHER THAN PENSION
General Information about the Other Post -Employment Benefits
Plan Description — The Board 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 Board 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 Board approves the rates for the coming calendar year for the retiree and
County contributions.
The Plan includes participants from the Board and each Constitutional Officer. The Board 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 Board. 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, 2016,
there were no terminated employees entitled to deferred benefits. The membership of the County's
medical plan consisted of:
Active Employees 1,250
Retirees and Beneficiaries Currently Receiving Benefits 420
Total Membership
D-21
1,670
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 8 — POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued)
Contributions — The County establishes and may amend, the contribution requirements of Plan
members. 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 December 27, 2016, as of October 1, 2015, 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 7.5% initially, reduced by decrements of 0.5% to an
ultimate rate of 4.5%. The assumptions included a discount rate 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 4.0% 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, 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, 2015 (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
$ 5,484,000
Interest on Net OPEB Obligation
1,524,000
Adjustment to Annual Required Contribution
(1,361,000)
Annual OPEB Cost
5,647,000
Less Contributions Made
(3,818,453)
Increase in Net OPEB Obligation
1,828,547
Net OPEB Obligation, Beginning of Year
38,100,486
Net OPEB Obligation, End of Year
$ 39,929,033
D-22
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
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 2016 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
9/30/2014
$ 6,449
41.2%
$ 34,364
9/30/2015
6,700
55.5%
38,100
9/30/2016
5,647
67.6%
39,929
The estimated net OPEB obligation at the end of the year is $38,066,692 for Governmental Activities
and $1,862,341 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, 2016, 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
10/1/2013 $
- $ 97,091
$ 97,091
0%
$ 69,338
140.03%
10/1/2014
- 100,105
100,105
0%
70,326
142.34%
10/1/2015
- 96,096
96,096
0%
66,814
143.83%
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-23
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
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 Contributions
Annual
Required Percentage of
Year Ended Contribution ARC
September 30 (ARC) Contributed
2016
$ 5,484
70%
2015
6,466
46%
2014
6,240
43%
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-24
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
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.
Pension 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-25
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
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, 2015 through June 30, 2016 and
from July 1, 2016 through September 30, 2016, respectively, were as follows: Regular7.26% and
7.52%; Special Risk Administrative Support32.95% and 28.06%; Special Risk22.04% and 22.57%;
Senior Management Service21.43% and 21.77%; Elected Officers'42.27% and 42.47%; and DROP
participants— 12.88% and 12.99%. These employer contribution rates include 1.66% and 1.66% HIS
Plan subsidy for the periods October 1, 2015 through June 30, 2016 and from July 1, 2016 through
September 30, 2016, respectively.
The Board's contributions, including employee contributions, to the Pension Plan totaled $2,810,259 for
the fiscal year ended September 30, 2016.
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-26
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
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, 2016, the Board's enterprise and internal service funds reported a
liability of $3,713,402 for their proportionate share of the Pension Plan's net pension liability. The net
pension liability was measured as of June 30, 2016, and the total pension liability used to calculate the
net pension liability was determined by an actuarial valuation as of July 1, 2016. The Board's
proportionate share of the net pension liability was based on the Board's 2015-16 fiscal year
contributions relative to the 2015-16 fiscal year contributions of all participating members. At June 30,
2016, the Board's proportionate share for all funds was .1075 percent, which was an increase of .0043
percent from its proportionate share measured as of June 30, 2015. Approximately 13.7% 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, 2016, the Board's enterprise and internal service funds
recognized pension expense of $562,231. In addition, these activities reported deferred outflows of
resources and deferred inflows of resources related to pensions from the following sources:
FRS Pension
Deferred
Deferred
Outflows of
Inflows of
Resources
Resources
Differences Between Expected and Actual Experience
$ 285,762
$ 34,746
Changes of Assumptions
225,792
-
Net Difference Between Projected and Actual
Earnings on Pension Plan Investments
964,750
-
Changes in Proportion and Differences Between
Pension Plan Contributions and Proportionate Share
of Contributions
70,515
77,772
Pension Plan Contributions Subsequent
to the Measurement Date
111,102
-
Total
$ 1,657,921
$ 112,518
D-27
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
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 $111,102 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:
FRS
Year ended June 30:
Amount
2017
$ 197,568
2018
197,568
2019
571,792
2020
391,330
2021
57,560
Thereafter
18,483
Total
$ 1,434,301
Actuarial Assumptions — The total pension liability in the June 30, 2016 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 7.60%, 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, 2016, 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 was decreased from 7.65% to 7.60%, and the active member
mortality assumption was updated.
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
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:
Asset Class
Annual
Target Arithmetic
Allocation (1) Return
Compound
Annual
(Geometric) Standard
Return Deviation
Cash
1%
3.0%
3.0%
1.7%
Fixed Income
18%
4.7%
4.6%
4.6%
Global Equity
53%
8.1%
6.8%
17.2%
Real Estate (Property)
10%
6.4%
5.8%
12.0%
Private Equity
6%
11.5%
7.8%
30.0%
Strategic Investments
12%
6.1%
5.6%
11.1%
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 7.60%. 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 7.60%, 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 (6.60%) or one percentage point higher (8.60%) than the current rate:
FRS Net Pension Liability
Current Discount
1% Decrease
Rate
1% Increase
(6.60%)
(7.60%)
(8.60%)
Enterprise and Internal Service
Funds Proportionate Share
of the Net Pension Plan Liability $
6,836,635
$ 3,713,402 $
1,113,733
D-29
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
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.
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, 2016, 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, 2016, the HIS contribution for the period
October 1, 2015 through June 30, 2016 and from July 1, 2016 through September 30, 2016 was 1.66%
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 $512,120 for the fiscal year ended September 30,
2016.
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, 2016, the Board's enterprise and
internal service funds reported a liability of $1,707,854 for their proportionate share of the Board's HIS
Plan's net pension liability. The net pension liability was measured as of June 30, 2016, and the total
pension liability used to calculate the net pension liability was determined by an actuarial valuation as of
July 1, 2016. The Board's proportionate share of the net pension liability was based on the Board's
2015-16 fiscal year contributions relative to the 2015-16 fiscal year contributions of all participating
members. At June 30, 2016, the Board's proportionate share of all funds was .0953 percent, which was
an increase of .0014 percent from its proportionate share measured as of June 30, 2015. Approximately
15.4% 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-3 0
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
For the fiscal year ended September 30, 2016, the Board's enterprise and internal service funds
recognized pension expense of $147,223. 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
Earnings on HIS Plan Investments
Changes in Proportion and Differences Between HIS
Plan Contributions and Proportionate Share
of Contributions
HIS Plan Contributions Subsequent to the
Measurement Date
Total
HIS Pension
Deferred
Deferred
Outflows of
Inflows of
Resources
Resources
$ - $
4,008
276,147
-
890 -
32,903 -
21,354 -
$ 331,294 $ 4,008
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
$21,354, 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 HIS Plan will be recognized as pension expense in the enterprise and internal service funds
as follows:
HIS
Year ended June 30:
Amount
2017
$ 54,782
2018
54,782
2019
54,592
2020
54,501
2021
47,152
Thereafter
40,123
Total
$ 305,932
D-31
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
Actuarial Assumptions — The total pension liability in the July 1, 2016, 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 2.85 %
Mortality rates were based on the Generational RP-2000 with Projection Scale BB tables.
The actuarial assumptions used in the July 1, 2016, valuation were based on the results of an actuarial
experience study for the period July 1, 2008 through June 30, 2013.
The municipal rate used to determine total pension liability was deceased from 3.80% to 2.85%.
Discount Rate — The discount rate used to measure the total pension liability was 2.85%. 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 Probortionate 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 2.85%, 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 (1.85%) or one percentage point higher (3.85%) than the current rate:
HIS Net Pension Liability
Current Discount
1 % Decrease Rate 1 % Increase
(1.85%) (2.85%) (3.85%)
Enterprise and Internal Service
Funds Proportionate Share
of the Net HIS Plan Liability $ 1,959,296 $ 1,707,854 $ 1,499,170
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-32
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
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 and 0.06 percent of payroll and by forfeited benefits of plan
members for the periods October 1, 2015 through June 30, 2016 and from July 1, 2016 through
September 30, 2016, respectively. Allocations to the investment member's accounts during the 2015-
16 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, 2016, 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.
D-3 3
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued)
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.
The Board's Investment Plan pension expense totaled $485,025 for the fiscal year ended September 30,
2016.
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 (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 ten years of service. The Plan shall be administered in accordance with the requirements
of Chapter 112, Part VU, Florida Statutes.
D-34
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY
MEDICAL SERVICES (continued)
For 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 municipal service taxing unit (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 ten years of service up to $4,500 for 25 years of
service.
Employees Covered by Benefit Terms — LOSAP had 57 participants, of which 19 are active, 23 are
inactive and 15 are retired members for the plan year ended December 31, 2016 and the County's fiscal
year ending September 30, 2016. Separate, stand-alone financial statements for LOSAP are not
provided.
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. These funds will 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 January 1, 2016 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 January 1, 2016 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 probability for
YOS<1
5. Inflation: No increase as benefits are based on a flat amount per year of service
D-3 5
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY
MEDICAL SERVICES (continued)
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.
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 position 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% (no change
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.
D-3 6
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY
MEDICAL SERVICES (continued)
Changes in Total Pension Liability
Balance at 111115 $
887,336
Changes for the year:
Service Cost
16,394
Interest
8,895
Differences Between Expected and Actual Experience
33,108
Benefit Payments, Including Refunds of Employee Contributions
(28,365)
Net Changes
30,032
Balance at 12/31/15 $
917,368
Sensitivity of the Net Pension Liability to Changes in the Discount Rate — The following table presents
the net pension liability (asset) of LOSAP, 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.
1 % Current
Decrease Discount Rate 1 % Increase
(0.00%) (1.00%) (2.00%)
Net Pension Liability (Asset) $ 980,305 $ 917,368 $ 813,032
Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related
to Pensions
For the year ended September 30, 2016, the Board recognized pension expense of $28,365. At
September 30, 2016, the Board reported deferred outflows of resources and deferred inflows of
resources related to pensions from the following sources, which will be amortized in future periods on
substantially a straight line basis:
Deferred Outflows Deferred Inflows
of Resources of Resources
Net Difference Between Projected and
Actual
Earnings on Pension Plan Investments $ - $ 173
D-3 7
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 11— CAPITAL AND OTHER SIGNIFICANT COMMITMENTS
Construction projects and significant commitments, excluding encumbrances reported below, under
present contractual agreements as of September 30, 2016 are as follows:
Cudjoe Regional Wastewater
$ 16,978,649
Bernstein Park
7,455,873
MCDC HVAC
1,470,943
Long Key Wastewater
1,261,643
Crawl Key Fire Training
883,889
Plantation Key Courthouse & Det. Center
854,063
Card Sound Bridge Repair
814,996
Lake Surprise
460,508
Higgs Beach -Atlantic Boulevard
245,744
ADA E. Martello
148,550
Marathon Library
140,574
KWIAP Customs
118,884
Cudjoe Fire Station
255,025
Jackson Sq Chiller
161,375
KWIAP Fence
142,319
Others (less than $100,000)
459,610
Total
$ 31,852,645
The entire construction costs of the Cudjoe 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.
IM
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 11— CAPITAL AND OTHER SIGNIFICANT COMMITMENTS (continued)
Significant encumbrance commitments at September 30, 2016 are as follows:
Encumbrance
Governmental Activities:
General Fund
$ 61,177
Road & Bridge Fund
359,635
Governmental Grants Fund
2,190,198
One Cent Infrastructure Surtax
3,248,698
Series 2014 Revenue Bonds
247,067
Nonmajor Governmental Funds
178,601
Total Governmental Activities
6,285,376
Business -Type Activities
Municipal Service District Waste
10,220
Key West Airport
1,575,644
Marathon Airport
1,949,288
Passenger Facility Charge
561,753
Total Business -Type Activities
4,096,905
Total Encumbrances
$ 10,382,281
NOTE 12 — LEASE OBLIGATIONS
Rental expense under cancelable operating leases for the current year amounted to $1,252,287.
D-3 9
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 13 — LONG-TERM DEBT
Long-term debt activity for the year ended September 30, 2016 is as follows:
Current Portion
of Long-term
Beginning Balances Additions Payments Ending Balances Liabilities
Governmental Activities:
Revenue Bonds Payable
$ 41,580,227
$ 16,065,000
$ 3,796,091
$ 53,849,136
$ 7,056,091
Revenue Notes Payable*
59,480,817
33,068,998
464,695
92,085,120
477,373
Line of Credit
16,000,000
-
16,000,000
-
-
Mayfield Agreement (KLWTD)
15,566,220
1,433,780
1,000,000
16,000,000
1,000,000
Accrued Comp. Absences
3,189,671
2,239,276
2,028,052
3,400,895
680,179
OPEB Liability
36,323,486
5,281,000
3,537,794
38,066,692
-
Pension Liability -FRS
20,372,852
16,597,258
2,953,046
34,017,064
-
PensionLiability -LOSAP
887,336
58,397
28,365
917,368
-
Total GovemmentalActivities
193,400,609
74,743,709
29,808,043
238,336,275
9,213,643
Business -type Activities
Landfill Closure Costs
173,965
1,566
-
175,531 -
Accrued Comp. Absences
350,878
274,446
235,620
389,704 77,942
OPEB Liability
1,777,000
203,000
117,659
1,862,341 -
Pension Liability
2,527,969
2,072,931
369,334
4,231,566 -
Total Business -type Activities
4,829,812
2,551,943
722,613
6,659,142 77,942
Total Long- Tenn Debt
$ 198,230,421
$ 77,295,652
$ 30,530,656
$ 244,995,417 $ 9,291,585
*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.
IMI
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 13 — LONGTERM 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 summary reflects the Board's bonds and notes as of September 30, 2016:
Governmental Activities
Revenue Bonds:
Infrastructure Sales Surtax Revenue Bonds, Series 2007
Infrastructure Sales Surtax Revenue Bonds, Series 2014
Infrastructure Sales Surtax Refunding Revenue Bond, Series 2016
Unamortized Original Issue Premium, Series 2007
Total Revenue Bonds
Revenue Notes:
Clean Water State Revolving Fund Construction Loan Agreement 2010
Clean Water State Revolving Fund Construction Loan Agreement 2014
Total Revenue Notes
Mayfield Agreement - Key Largo Wastewater Treatment District
Total Governmental Debt
D-41
$ 6,740,000
30,885,000
16,065,000
159,136
53,849,136
7,667,080
84,418,040
92,085,120
16,000,000
$161,934,256
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 13 — LONGTERM DEBT (continued)
Debt Service Funding Requirements — The total annual debt service requirements for bonds and notes
outstanding at September 30, 2016 are as follows:
Principal
Governmental Activities
Interest Total
2017
$ 8,533,464
$ 1,407,708
$ 9,941,172
2018
8,723,443
1,278,587
10,002,030
2019
7,078,777
1,005,483
8,084,260
2020
7,192,522
889,462
8,081,984
2021
7,311,642
770,809
8,082,451
2022-2026
36,413,865
2,003,873
38,417,738
2027-2031
2,262,503
124,098
2,386,601
Total Required Debt Service
77,516,216
$ 7,480,020
$ 84,996,236
2014 Clean Water State Revohing Fund
Construction Loan Agreement*
84,418,040
Total Governmental Debt
$ 161,934,256
*2014 CW 1T notes are still in the drawdrown process. Debt service is required to begin June 15, 2018.
Long-term debt at September 30, 2016 is composed of the following issues:
$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: $6,740,000
• 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 $7,249,250. For the
fiscal year, principal and interest paid was $3,654,600 and total pledged revenue was
$20, 817, 676.
• Purpose: To construct and acquire equipment and capital improvements.
• Call provisions: None
D-42
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 13 — LONGTERM DEBT (continued)
$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: $30,885,000
• 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 $34,254,018. For the
fiscal year, principal and interest paid was $1,240,686 and total pledged revenue was
$20, 817, 676.
• 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: $7,667,080
• 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 $9,205,989. For the fiscal year, principal and interest paid was $681,938
and total pledged revenue was $33,784,081.
• Purpose: Refund temporary financing for wastewater capital improvements.
• Call provisions: None
D-43
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 13 — LONGTERM DEBT (continued)
Clean Water State Revolving Fund Construction Loan Agreement
• The State awarded a total of $120,000,000 (original award plus four amendment awards) for
collection, transmission and treatment facilities under the State Revolving Fund loan program.
During the year ended September 30, 2016, loan draws of $31,147,188 were received and
accumulated interest of $1,921,809 capitalized resulting in an outstanding loan balance as of
September 30, 2016 of $84,418,040.
• Interest rate: various interest rates (2.39% - 3.07%) as of September 30, 2016
• 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 Cudj oe 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
$22,470,294.
• 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: 70% of One -Month LIBOR plus 0.51% (WSJ Prime plus 4% 1/1/2017 — 4/l/2024)
• Amount outstanding at September 30th: $0
• Reserve requirement: None
• Revenue pledged: One -Cent Local Government Infrastructure Sales Surtax. For the fiscal year,
principal and interest paid was $16,135,736 and total pledged revenue was $20,817,676.
• Purpose: Capital improvements with respect to Cudj oe Regional Wastewater Project
• Call provisions: None
• The balance of this line of credit was refinanced into the Infrastructure Sales Surtax
Refunding Revenue Bond, Series 2016
$16,065,000 Infrastructure Sales Surtax Refunding Revenue Bond, Series 2016
• Type: General Government Refunding Revenue Bond
• Dated: September 2016
• Final maturity: Year 2026
• Principal payment date: April 1
• Interest payment dates: April 1 and October 1
• Interest rate: 1.69%
• Amount outstanding at September 30th: $16,065,000
IM"
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 13 — LONGTERM DEBT (continued)
• 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 $18,127,844. For the
fiscal year, bond issuance cost of $65,000 was paid and total pledged revenue was $20,817,676.
• Purpose: To construct and acquire equipment and capital improvements.
• Call provisions: None
$17,000,000 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: $16,000,000
• Reserve requirement: None
• Revenue pledged: One -Cent Local Government Infrastructure Sales Surtax. The total principal
remaining to be paid is $16,000,000. For the fiscal year, principal paid was $1,000,000 total
pledged revenue was $20,817,676.
• 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 Debt
The County issued $16,065,000 in Infrastructure Sales Surtax Improvement and Refunding Bonds,
Series 2016 with an interest rate of 1.69% computed semi-annually (based on a 360-day year). The
proceeds were used to refund the $16,000,000 Line of Credit (Infrastructure Sales Surtax Master
Revenue Bond, Series 2014). The Line of Credit is considered extinguished and the liability has been
removed from the statement of net position.
The reacquisition price equaled the net carrying amount of the old debt. As a result, the County did not
record a deferred charge in the statement of activities. The County refunded the line of credit to reduce
its total debt service payments over ten years by $3,652,602 and to obtain an economic gain of
$4, 047, 53 5 .
D-45
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
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
"interlocal 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.
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.
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 15 — CONDUIT DEBT (continued)
Accordingly, the bonds are not reported as liabilities in the accompanying financial statements.
Maturity of the Series 2007 Bonds is August 15, 2042.
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 nor
does the County 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, 2016, the estimated future cost for post closure
maintenance was $175,531.
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
$13,050 and investment earnings of $2,628 were added to the escrow account. In accordance with laws
and regulations, the landfill had cash and investments of $1,766,307 held for these purposes at
September 30, 2016. 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-47
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
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
General Fund
Governmental Grants
One Cent Infrastructure Surtax
Big Coppitt Wastewater Project
Payable Fund
Fine and Forfeiture
Nonmajor Governmental
General Fund
Fine and Forfeiture
Cudjoe Regional Wastewater Project
Cudjoe Regional Wastewater Project Big Coppitt Wastewater Project
Card Sound Bridge
Internal Service Funds
Nonmajor Governmental
Marathon Airport
Key West Airport
Nonmajor Governmental
PFC & Oper Restrictions
PFC & Oper Restrictions
Cudj oe Regional Wastewater Project
Big Coppitt Wastewater Project
Amount
$ 5,640,354
3,167,004
55,733
3,668,413
12,649
2,213,552
246,212
417,183
3,535,787
17,390
175,611
2,646
43,166
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 18 — INTERFUND TRANSFERS
Interfund transfers at September 30, 2016 are as follows:
Transfers to General Fund from:
One Cent Infrastructure Surtax Fund
$ 178,428
Fine & Forfeiture Fund
16,667
Card Sound Bridge 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
3,925,148
Total
5,494,079
Transfers to Fine & Forfeiture Fund from:
One Cent Infrastructure Surtax Fund 2,755,000
Transfers to Governmental Grants Fund from:
General Fund 269,954
Card Sound Bridge Fund 364,810
Nonmajor GovemmentalFunds 324,233
Total 958,997
Transfers to One Cent Infrastructure Surtax Fund from:
Big Coppit Wastewater Project
2,000,000
Governmental Grants Fund
50,000
Nonmajor Governmental Funds
2,500,000
Total
4,550,000
Transfers to Cudjoe Regional Wastewater Project Fund from:
Nonmajor Governmental Funds 6
Transfers to Debt Service Fund from:
One Cent Infrastructure Surtax Fund 5,895,286
Big Coppitt Wastewater Project Fund 681,938
Total 6,577,224
Transfers to Nonmajor Governmental Funds from:
General Fund 1,471
One Cent Infrastructure Fund 7,600,000
Nonmajor Governmental Funds 645,347
Total 8,246,818
Transfers to Marathon Airport Fund from:
PFC & Oper Restrictions 17,390
Transfers to Key West Airport Fund from:
PFC & Oper Restrictions 198,970
Total Interfimd Transfers $ 28,798,484
IMG
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 18 — INTERFUND TRANSFERS (continued)
The One Cent Infrastructure Surtax Fund, a major fund, transferred $5,895,286 to the Debt Service Fund
to repay long-term debt. Similarly, the Big Coppitt Wastewater Project transferred $681,938 to the Debt
Service Fund for repayment of debt for this project.
The One Cent Infrastructure Surtax Fund also transferred $2,500,000 to the Fine and Forfeiture Fund for
the purchase of the Trauma Star helicopter, $1,400,000 to the Long Key Wastewater Project to fund the
start-up of this project and $6,000,000 to the Land Acquisition Fund.
Transfers to the Government Grants Fund of $958,997 represent funds needed to meet match
requirements.
The Employee Fair Share Housing Fund transferred $571,364 to the Building Fund for the development
of affordable housing.
The General Fund transferred $1,471 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 $17,390 and to the Key West International Airport in the amount of $198,970 to fund
approved projects by the Federal Aviation Administration (FAA). Among the FAA -approved projects
were evaluating and installing noise mitigation measures, strengthening airfield security, relocating
runway threshold lights, and rehabilitating the custom facilities.
The remaining transfers are related to supporting the County's operations.
D-50
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
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, 2016 is presented below:
One Cent
Fund Balances:
Nonspendable:
Inventory
$ 3,728-
Total Nonspendable
3,728 - -
Restricted for:
Law Enforcement
- 16,760,058 - -
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
- - 1,619,760 -
Wastewater Projects
- - - -
Other Purposes
- - - -
Debt Service
- - - -
CapitalProjects
- - - 23,609,776
Total Restricted
- 16,760,058 1,619,760 23,609,776
Committed to:
Disaster Recovery
10,000,000 - - -
Physical Environment
- -
Wastewater Projects
- -
Beach Renourishment
- -
Total Committed
10,000,000 - -
Assigned to:
Other Purposes
61,177 - - -
Fire & Ambulance
- - - -
Subsequent Year's Expenditures
12,718,217 - - -
TotalAssigned
12,779,394 - - -
Unassigned:
15,490,123 - - -
Total Fund Balances
$ 38,273,245 $ 16,760,058 $ 1,619,760 $ 23,609,776
D-51
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 19 — GOVERNMENTAL FUND BALANCE CLASSIFICATIONS (continued)
Big Coppitt
Cudjoe Regional
Nonmajor
Total
Wastewater
Wastewater All Debt Service
Governmental
Governmental
Project
Project Funds
Funds
Funds
- - - 3,728
- - - L,U33,133
L,U33,133
- - - 61555,985
6,555,985
- - - 3,342,506
3,342,506
- - - 14,353,890
14,353,890
- - - 1,536,312
1,536,312
- - - 31,299,397
31,299,397
- - - 965,988
965,988
- - - 1,082,082
1,082,082
- - - 298,523
298,523
- - - 1,590,591
1,590,591
- - - 51015,104
5,015,104
- - - 51508,470
5,508,470
- - - -
1,619,760
345,455 23,345,841 - 9,478,499
33,169,795
- - - 691,668
691,668
- - 2,565,479 -
2,565,479
- - - 7,315,861
30,925,637
345,455 23,345,841 2,565,479 94,223,445
162,469,814
- - - -
10,000,000
- - - 1,638,208
1,638,208
- - - 373,597
373,597
- - - 211,254
211,254
- - - 2,223,059
12,223,059
- - - -
61177
- - 51276,737 18,056,131
- - 15,490,123
$ 345,455 $ 23,345,841 $ 2,565,479 $ 101,723,241 $ 208,242,855
D-52
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
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 Workers' 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 Workers' 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 Workers' 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. These claim liabilities have not been discounted.
Changes in the claims liability amounts in fiscal years 2016 and 2015 were:
Unpaid Claims at Sept. 30, 2014
Incurred Claims
(Including IBNRs)
Claim Payments
Worker's
Comp.
Group
Insurance Risk Mgmt Total
$ 1,210,936 $ 1,043,765 $ 193,455 $ 2,448,156
2,832,938 14,498,018 246,244 17,577,200
(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
Incurred Claims
(IncludinglBNRs) 1,991,437 16,899,485 226,680 19,117,602
Claim Payments (2,484,282) (16,798,211) (169,245) (19,451,738)
Unpaid Claims at Sept. 30, 2016 $ 425,109 $ 1,028,472 $ 246,780 $ 1,700,361
D-53
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
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 lawsuits. 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 of the
property was necessary in order to ripen the appeal. By stipulation, the parties agreed that the
property at the time of the taking was valued at $175,000. After calculating pre judgment
interest due on that value, the Court entered a final judgment in the amount of $347,476 as of
December 31, 2016 jointly and severally against the County and the State of Florida. Under the
final judgment, post judgment interest will accrue at approximately $22.77 per day depending on
annual adjustments to the statutory interest rate until that judgment is either satisfied or vacated.
An award of attorney fees and costs would be in addition to the amounts in the judgment. It is
reasonably estimated that, if the final judgment survives appeal, the trial court would enter an
award of fees and costs for approximately $250,000 though the Plaintiffs attorney has not
disclosed the amount of his claim at this juncture. In March 2017, the County and State appealed
this final judgment; resolution of that appeal is not expected prior to the end of FYI 7. The Board
has not recorded any liability for this claim in their financial statements due to the expectation
that the liability finding and thus the final judgment will be overturned upon appeal.
In the second regulatory takings claim, the liability has been judicially determined against the
County and State of Florida. In 2016, a jury valued the property at $285,500 as of the date of
taking. After calculating pre judgment interest due on that value, the Court entered a final
judgment in the amount of $480,512 as of June 1, 2016 jointly and severally against the County
and the State of Florida. Under the final judgment, post judgment interest will accrue at
approximately $64.64 per day depending on annual adjustment to the statutory interest rate until
that judgment is either satisfied or vacated. An award of attorney fees and costs would be in
addition to the amounts in the judgment. It is reasonably estimated that, if the final judgment
survives appeal, the trial court would enter an award of fees and costs for approximately $1
million though the Plaintiff s attorney has not disclosed the amount of his claim at this juncture.
The property owner has appealed the final judgment; the County and the State have cross
appealed the underlying liability ruling. Resolution of the appeal is expected prior to the end of
calendar year 2017. The Board has not recorded any liability for this claim in its financial
statements due to the expectation that the liability finding and thus the final judgment will be
overturned upon appeal. Nevertheless, in an abundance of caution, the estimate of $200,000 is
reflected in the government -wide financial statements of the County.
D-54
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
Notes To Financial Statements
For the Year Ended September 30, 2016
NOTE 21— LITIGATION AND CLAIMS (continued)
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.
NOTE 23 — RESTATEMENT
Effective October 1, 2015, the County adopted the provisions of GASB Statement 73, Accounting and
Financial Reporting for Pensions and Related Assets that are not within the scope of GASB Statement
68. The implementation of this statement required the County to reclassify the Volunteer Firefighter and
Emergency Medical Services Length of Service Award Pension Plan to the General Fund. As the
provisions of Statement No. 73 were effective October 1, 2015, the General Fund balance as of that date
has been adjusted as follows:
Fund balance — September 30, 2015, previously reported $ 36,004,187
Restatement 865,891
Fund balance — September 30, 2015, restated 36.870.078
NOTE 24 — SUBSEQUENT EVENTS
Management has evaluated subsequent events through March 31, 2017, in connection with the
preparation of these financial statements, which is the date the financial statements were available to be
issued.
D-55
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF THE BOARD'S PROPORTIONATE SHARE OF NET PENSION LIABILITY
FLORIDA RETIREMENT SYSTEM
LAST TEN FISCAL YEARS"
2016
2015
2014
Board's proportion of the net pension liability
0.107471975%
0.103158114%
0.104891393%
Board's proportionate share of the net pension liability
$ 27,136,758
$ 13,324,254
$ 6,399,917
Board's covered -employee payroll
$ 25,607,688
$ 29,097,726
$ 28,100,964
Board's proportionate share of the net pension liability as a
percentage of its covered -employee payroll
105.97%
45.79%
22.77%
Plan fiduciary net position as a percentage of the total pension liability
84.88%
92.00%
96.09%
* The amounts presented for each fiscal year were determined as of June 30.
No data is available for the previous seven years.
E-1
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF THE BOARD'S CONTRIBUTIONS
FLORIDA RETIREMENT SYSTEM
LAST TEN FISCAL YEARS*
2016 2015 2014
Contractually required contribution $ 2,620,875 $ 2,515,082 2,297,567
Contributions in relation to the contractually required contribution
Contribution deficiency (excess)
Board's covered -employee payroll
Contributions as a percentage of covered -employee payroll
(2,620,875) (2,515,082) (2,297,567)
$ 25,607,688 $ 29,097,726 $ 28,100,694
10.23% 8.64% 8.18%
* The amounts presented for each fiscal year were determined as of September 30.
No data is available for the previous seven years.
E-2
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF THE BOARD'S PROPORTIONATE SHARE OF NET PENSION LIABILITY
HEALTH INSURANCE SUBSIDY PROGRAM
LAST TEN FISCAL YEARS*
2016
Board's proportion of the net pension liability 0.095343347%
Board's proportionate share of the net pension liability $ 11,111,872
Board's covered -employee payroll $ 25,607,688
Board's proportionate share of the net pension liability as a
percentage of its covered -employee payroll 43.39%
Plan fiduciary net position as a percentage of the total pension
liability 0.97%
* The amounts presented for each fiscal year were determined as of June 30.
No data is available for the previous seven years.
2015
0.093902398%
$ 9,576,567
$ 29,097,726
32.91 %
0.50%
El
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*
2016 2015 2014
Contractually required contribution $ 488,695 $ 358,953 $ 321,079
Contributions in relation to the contractually required contribution
Contribution deficiency (excess)
Board's covered -employee payroll
Contributions as a percentage of covered -employee payroll
(488,695) (358,953) (321,079)
$ 25,607,688 $ 29,097,726 $ 28,100,964
1.91 % 1.23% 1.14%
* The amounts presented for each fiscal year were determined as of September 30.
No data is available for the previous seven years.
E-4
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULES OF REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULES OF CHANGES IN THE BOARD'S TOTAL PENSION LIABILITY AND RELATED RATIOS
PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES
LAST TEN FISCAL YEARS*
(Dollar amounts in thousands)
Total pension liability
Service cost
Interest
Differences between expected and actual experience
Benefit payments, including refunds of employee contributions
Net change in total pension liability
Total pension liability -beginning
Total pension liability -ending
Covered -employee payroll
County's total position liability as a percentage of covered -employee payroll
Notes to Schedule:
2016 2015 2014
$ 16,394 $ 16,455 $ 18,434
8,895 8,054 12,219
33,108 89,397 (9,696)
(28,365) (30,855) (25,575)
30,032 83,051 (4,618)
887,336 804,285 808,903
$ 917,368 $ 887,336 $ 804,285
N/A N/A N/A
N/A N/A N/A
*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.
There are no assets accumulated in a trust, as defined by Statement of Governmental Accounting Standards No. 73, to pay benefits.
E-5
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
REQUIRED SUPPLEMENTARY INFORMATION
YEAR ENDED SEPTEMBER 30, 2016
TEN YEAR SCHEDULE OF EMPLOYER CONTRIBUTIONS
PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES
Year Ending December 31, 2015 2014 2013 2012 2011
Actuarially determined contribution $ 30,304 $ 28,575 $ 36,788 $ 28,145 $ 30,379
Contributions in relation to the actuarially
determined contribution 30,304 28,575 36,788 28,145 30,379
Contribution deficiency (excess) $ - $ - $ - $ - $ -
Covered employee payroll $ - $ - $ - $ - $ -
Contributions as a percentage of covered
employee payroll N/A N/A N/A N/A N/A
Notes to Schedule
Valuation Date:
Actuarially determined contribution rates are calculated as of January 1, which is nine months 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
$ 28,914 $ 30,791 $ 28,477 $ 24,233 $ 19,233
28,914 30,791 28,477 24,233 19,233
N/A N/A N/A N/A N/A
E-7
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCES - BUDGET AND ACTUAL
ONE CENT INFRASTRUCTURE SURTAX CAPITAL PROJECT FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Taxes
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Capital Outlay:
General Government
Public Safety
Public Safety Capital Projects
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)
$ 20,000,000
$ 20,000,000
$ 20,817,676
$ 817,676
50,000
50,000
99,757
49,757
-
-
3,912
3,912
20,050,000
20,050,000
20,921,345
871,345
6,411,033 6,348,694 3,810,043 2,538,651
1,636,124
5,627,208
2,589,045
3,038,163
5,450,872
4,308,037
3,583,258
724,779
7,079,604
3,277,252
2,337,294
939,958
4,659,664
2,844,000
82,053
2,761,947
25,237,297
22,405,191
12,401,693
10,003,498
(5,187,297) (2,355,191) 8,519,652 10,874,843
(890,068) (5,637,665) - 5,637,665
(1,893,337) (1,122,487) - 1,122,487
2,500,000 6,546,282 4,550,000 (1,996,282)
(13,504,528) (16,306,169) (16,428,714) (122,545)
(13,787,933) (16,520,039) (11,878,714) 4,641,325
(18,975,230)
18,975,230
(18,875,230)
18,875,230
(3,359,062)
26,968,838
15,516,168
8,093,608
$ 23,609,776 $ 23,609,776
F-1
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BIG COPPITT WASTEWATER CAPITAL PROJECT FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
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)
$ 475,000
$ 475,000
$ 325,648
$ (149,352)
10,000
10,000
90,118
80,118
-
-
34,263
34,263
485,000
485,000
450,029
(34,971)
5,000 5,000 - 5,000
68,500 68,500 32,665 35,835
73,500 73,500 32,665 40,835
73,500 73,500 32,665 40,835
411,500 411,500 417,364 5,864
Other Financing Sources (Uses):
Transfers from Constitutional Officers - - 964 964
Transfers to Other Funds (682,000) (2,682,000) (2,681,938) 62
Total Other Financing Sources (Uses) (682,000) (2,682,000) (2,680,974) 1,026
Net Change in Fund Balances (270,500) (2,270,500) (2,263,610) 6,890
Fund Balances, October 1 270,500 2,270,500 2,609,065 338,565
Fund Balances, September 30 $ - $ - $ 345,455 $ 345,455
F-2
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
CUDJOE REGIONAL WASTEWATER CAPITAL PROJECT FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Licenses and Permits
Intergovernmental
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Transportation:
Cudjoe Regional X-Paving
Total Transportation
Capital Outlay:
Physical Environment:
Cudjoe Regional Wastewater Project
Grant Funding
Loan Funding
Special Assessment Refunds
Special Assessments
Total Physical Environment
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 2,275,400
$ 2,275,400
$ 13,207,840
$ 10,932,440
-
125,082
1,558,862
1,433,780
-
-
832,799
832,799
-
-
128,766
128,766
2,275,400
2,400,482
15,728,267
13,327,785
3,000,000 3,000,000 - 3,000,000
3,000,000 3,000,000 - 3,000,000
125,082
250,164
125,082
125,082
5,021,843
36,091,470
41,419,271
(5,327,801)
25,000
25,000
-
25,000
397,522
397,522
133,565
263,957
5,569,447
36,764,156
41,677,918
(4,913,762)
Total Capital Outlay Expenditures 8,569,447 39,764,156 41,677,918 (1,913,762)
Excess/Deficiency of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Reserve for Cash Balance
Issuance of Debt
Transfers from Other Funds
Transfers to Other Funds
Transfers to/from Consititutional Officers
Total Other Financing Sources (Uses)
Net Change in Fund Balances
(6,294,047) (37,363,674) (25,949,651) 11,414,023
(10,444,649)
(10,444,649)
-
10,444,649
3,016,492
3,016,492
31,147,188
28,130,696
19,725,082
53,794,709
6
(53,794,703)
(9,000,000)
(9,000,000)
-
9,000,000
-
-
3,075
3,075
3,296,925
37,366,552
31,150,269
(6,216,283)
(2,997,122) 2,878 5,200,618 5,197,740
Fund Balances, October 1
(2,878)
(2,878) 18,145,223
18,148,101
Fund Balances, September 30
$ (3,000,000) $
- $ 23,345,841
$ 23,345,841
F-3
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
ALL DEBT SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ 5,100 $ 5,100 $ 15,780 $ 10,680
Total Revenues 5,100 5,100 15,780 10,680
EXPENDITURES:
Current:
Debt Service:
2007 Revenue Bonds
Principal
3,190,000
3,190,000
3,190,000 -
Interest
400,800
464,600
464,600 -
Other Debt Service Costs
300
300
300 -
Total 2007 Revenue Bonds
3,591,100
3,654,900
3,654,900 -
Clean Water SRF Loan
Principal 464,695 464,695 464,694 1
Interest 217,305 217,305 217,244 61
Total Clean Water SRF Loan 682,000 682,000 681,938 62
2014 Revenue Bonds
Principal 500,000 500,000 500,000 -
Interest 735,000 740,686 740,686 -
Total 2014 Revenue Bonds 1,235,000 1,240,686 1,240,686 -
PNC Line of Credit
Principal - 16,000,000 16,000,000 -
Other Debt Service Costs 100,000 - - -
Interest - 160,905 135,736 25,169
Total PNC Line of Credit 100,000 16,160,905 16,135,736 25,169
Mayfield Loan
Principal - 1,000,000 1,000,000 -
Total Mayfield Loan - 1,000,000 1,000,000 -
2016 Revenue Bonds
Other Debt Service Costs - 65,000 65,000 -
Total 2016 Revenue Bonds - 65,000 65,000 -
(Continued)
F-4
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL (CONTINUED)
ALL DEBT SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Reserve for Contingencies
Reserve for Cash Balance
Transfers from Other Funds
Refunding Bonds Issued
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)
5,608,100 22,803,491 22,778,260 25,231
(5,603,000) (22,798,391) (22,762,480) 35,911
(700,000)
(580,514)
-
580,514
(990,936)
(990,936)
-
990,936
5,608,100
6,619,005
6,577,224
(41,781)
-
16,065,000
16,065,000
-
3,917,164
21,112,555
22,642,224
1,529,669
(1,685,836)
(1,685,836)
(120,256)
1,565,580
1,685,836 1,685,836 2,685,735 999,899
$ - $ - $ 2,565,479 $ 2,565,479
F-5
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2016
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
$ 62,168
$ 910,654
$ 1,801,784
$ 1,873,330
Investments
327,342
4,288,049
5,544,525
7,455,424
Accounts Receivable, Net
-
-
157
-
Assessments Receivable
-
-
-
-
Due from Other Funds
-
-
-
-
Due from Other Governmental Units
-
-
-
-
Due from Constitutional Officers
-
777,028
1,588,096
1,321,916
Mortgages/Notes Receivable
-
-
-
-
Allowance for Mortgages/Notes Receivable
-
-
-
-
Advances to Other Governments
-
-
-
-
Interest Receivable
760
9,522
14,756
12,931
Total Assets
$ 390,270
$ 5,985,253
$ 8,949,318
$ 10,663,601
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable $ - $ 243,892 $ 360,922 $ 357,167
Retainage Payable - - - 2,209
Accrued Wages and Benefits Payable - - - -
Due to Other Funds - - - -
Due to Other Governmental Units - - - 122,688
Due to Constitutional Officers - - - -
Other Current Liabilities - - 1,103 -
Deposits in Escrow - - - -
Total Liabilities - 243,892 362,025 482,064
Deferred Inflows of Resources:
Advances from Other Governments - - - -
Unavailable Revenues - - - -
Total Deferred Inflows of Resources - - - -
Fund Balances:
Nonspendable - - - -
Restricted 390,270 5,741,361 8,587,293 9,970,283
Committed - - - 211,254
Assigned - - - -
Unassigned - - - -
Total Fund Balances 390,270 5,741,361 8,587,293 10,181,537
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 390,270 $ 5,985,253 $ 8,949,318 $ 10,663,601
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
$ 154,383 $
560,945 $
361,137 $
371,283 $
231,489 $
102,347
637,500
1,893,586
1,108,113
1,376,217
1,441,138
533,550
120,984
384,653
260,502
273,569
-
-
1,168
2,960
2,327
2,274
5,947
1,075
$ 914,035 $
2,842,144 $
1,732,079 $
2,023,343 $
1,678, 574 $
636,972
$ 63,495 $ 159,436 $ 146,431 $ 125,356 $ 1 $ 13,355
- 11,413 - - - -
- - - - 306,640 -
222 18 4,766 4 - -
63,717 170,867 151,197 125,360 306,641 13,355
850,318
2,671,277
1,580,882
1,897,983
1,371,933
623,617
850,318
2,671,277
1,580,882
1,897,983
1,371,933
623,617
$ 914,035 $ 2,842,144 $ 1,732,079 $ 2,023,343 $ 1,678, 574 $ 636,972
(Continued)
G-2
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2016
SPECIAL
Impact Fees,
Impact Fees,
Impact Fees,
Impact Fees,
Libraries
Solid Waste
Police Facilities
Fire & EMS
ASSETS
Cash and Cash Equivalents
$ 172,299
$ 14,360
$ 16,723
$ 13,261
Investments
903,445
74,600
85,683
68,166
Accounts Receivable, Net
1,839
-
-
-
Assessments Receivable
-
-
-
-
Due from Other Funds
-
-
-
-
Due from Other Governmental Units
2,527
-
-
-
Due from Constitutional Officers
-
-
-
-
Mortgages/Notes Receivable
-
-
-
-
Allowance for Mortgages/Notes Receivable
-
-
-
-
Advances to Other Governments
-
-
-
-
Interest Receivable
1,972
146
124
120
Total Assets
$ 1,082,082
$ 89,106
$ 102,530
$ 81,547
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 - - -
Other Current Liabilities - - -
Deposits in Escrow - - -
Total Liabilities - - -
Deferred Inflows of Resources:
Advances from Other Governments - - - -
Unavailable Revenues - - - -
Deferred Inflows of Resources - - - -
Fund Balances:
Nonspendable - - - -
Restricted 1,082,082 89,106 102,530 81,547
Committed - - - -
Assigned - - - -
Unassigned - - - -
Total Fund Balances 1,082,082 89,106 102,530 81,547
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 1,082,082 $ 89,106 $ 102,530 $ 81,547
G-3
REVENUE FUNDS
Impact Fees,
Fire & Amb
Upper Keys
Unincorp.
Unincorp.
Employee
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
$ 3,893 $
963,039 $
120,707 $
144,202 $
1,369,052 $
419,473
20,496
6,772,981
742,442
1,097,750
9,789,960
1,603,731
-
6,712
-
40
304
-
-
9,180
-
-
249,901
-
-
202,291
-
24,351
8,710
386,012
672
13,942
1,838
2,236
17,507
3,508
$ 25,061 $
7,968,145 $
864,987 $
1,268,579 $
11,435,434 $
2,412,724
$ - $ 247,539 $ 12,809 $ 38,225 $ 72,413 $ -
- 2,440,181 - 247,155 904,607 -
- 3,688 - 10,453 34,415 -
- - - 5,772 143,003 -
- 2,691,408 12,809 301,605 1,154,438 -
25,061 - 852,178 966,974 10,280,996 2,412,724
- 5,276,737 - - - -
25,061 5,276,737 852,178 966,974 10,280,996 2,412,724
$ 25,061 $ 7,968,145 $ 864,987 $ 1,268,579 $ 11,435,434 $ 2,412,724
(Continued)
G-4
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2016
SPECIAL
911
Duck Key
Local
Enhancement
Security
Housing
Boating
Fees
District
Assistance
Improvement
ASSETS
Cash and Cash Equivalents
$ 28,000
$ 57,979
$ 193,748
$ 340,906
Investments
13,529
361,785
1,020,670
2,125,296
Accounts Receivable, Net
-
-
-
-
Assessments Receivable
-
-
-
-
Due from Other Funds
-
-
-
-
Due from Other Governmental Units
-
-
-
-
Due from Constitutional Officers
-
-
-
70,081
Mortgages/Notes Receivable
-
-
8,476,848
-
Allowance for Mortgages/Notes Receivable
-
-
(8,476,848)
-
Advances to Other Governments
-
-
-
-
Interest Receivable
1
801
2,600
4,908
Total Assets
$ 41,530
$ 420,565
$ 1,217,018
$ 2,541,191
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable $ - $ 5,414 $ 72,544 $ 5,601
Retainage Payable - - - -
Accrued Wages and Benefits Payable - - - -
Due to Other Funds - - - -
Due to Other Governmental Units - - 23,493 -
Due to Constitutional Officers 41,336 - - -
Other Current Liabilities - - - -
Deposits in Escrow - - - -
Total Liabilities 41,336 5,414 96,037 5,601
Deferred Inflows of Resources:
Advances from Other Governments
Unavailable Revenues
Deferred Inflows of Resources
Fund Balances:
Nonspendable - - - -
Restricted 194 415,151 1,120,981 2,535,590
Committed - - - -
Assigned - - - -
Unassigned - - - -
Total Fund Balances 194 415,151 1,120,981 2,535,590
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 41,530 $ 420,565 $ 1,217,018 $ 2,541,191
G-5
REVENUE FUNDS
Miscellaneous Law Court Drug Marathon
Special Environmental Enforcement Facility Abuse Municipal
Revenue Restoration Trust Fees Trust Service
$ 495,415 $
257,339 $
98,656 $
533,252 $
19,363 $
294
2,293,322
1,385,180
519,461
2,651,943
98,121
1,552
50,590
-
20,724
40,522
2,337
2
5,038
3,381
1,148
5,237
269
5
$ 2,844,365 $
1,645,900 $
639,989 $
3,230,954 $
120,090 $
1,853
$ 14,738 $ 7,692 $ - $ 9,244 $ 6,280 $ -
8,192 - - - - -
31,168 - - - - -
54,098 7,692 - 9,244 6,280 -
2,790,267 - 639,989 3,221,710 113,810 1,853
- 1,638,208 - - -
2,790,267 1,638,208 639,989 3,221,710 113,810 1,853
$ 2,844,365 $ 1,645,900 $ 639,989 $ 3,230,954 $ 120,090 $ 1,853
(Continued)
G-6
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2016
SPECIAL
Bay Point
Big Coppitt
Key Largo
Wastewater
Wastewater
Wastewater
Stock Island
MSTU
MSTU
MSTU
Wastewater
ASSETS
Cash and Cash Equivalents
$ 7,316
$ 119
$ 1,052
$ 106,990
Investments
38,761
885
5,538
565,639
Accounts Receivable, Net
-
-
-
-
Assessments Receivable
-
-
-
257,239
Due from Other Funds
-
-
-
564
Due from Other Governmental Units
-
-
-
-
Due from Constitutional Officers
-
-
2
513
Mortgages/Notes Receivable
-
-
-
-
Allowance for Mortgages/Notes Receivable
-
-
-
-
Advances to Other Governments
-
-
-
-
Interest Receivable
98
2
14
1,268
Total Assets
$ 46,175
$ 1,006
$ 6,606
$ 932,213
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable $ - $ - $ - $ 615
Retainage Payable - - - -
Accrued Wages and Benefits Payable - - - -
Due to Other Funds - 401 - -
Due to Other Governmental Units - - - -
Due to Constitutional Officers - - - -
Other Current Liabilities - - - -
Deposits in Escrow - - - -
Total Liabilities - 401 - 615
Deferred Inflows of Resources:
Advances from Other Governments - - - -
Unavailable Revenues - - - 255,562
Deferred Inflows of Resources - - - 255,562
Fund Balances:
Nonspendable - - - -
Restricted - - - 676,036
Committed 46,175 605 6,606 -
Assigned - - - -
Unassigned - - - -
Total Fund Balances 46,175 605 6,606 676,036
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $ 46,175 $ 1,006 $ 6,606 $ 932,213
G-7
REVENUE FUNDS
Cudjoe-
Long Key,
Sugarloaf
Conch Key
Layton
Duck Key
Building
Road and
MSTU
MSTU
MSTU
MSTU
Fund
Bridge
$
462
$
76
$
40,821
$
9,925
$
536,121
$
1,866,341
-
402
216,680
52,262
3,963,360
10,884,046
-
-
-
-
120
105
-
-
-
-
-
348,680
-
-
198
126
6,098
22,473
$
462
$
478
$
257,699
$
62,313
$
4,505,699
$
13,121,645
$
462
$
-
$
279
$
-
$
145,591
$
92,329
-
-
-
-
287,698
-
-
-
-
-
35,132
47,133
-
-
-
-
-
226
-
-
-
-
8,110
-
462
-
279
-
476,531
139,688
-
-
-
-
4,029,168
12, 981, 957
-
478
257,420
62,313
-
-
-
478
257,420
62,313
4,029,168
12,981,957
$
462
$
478
$
257,699
$
62,313
$
4,505,699
$
13,121,645
(Continued)
G-8
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING BALANCE SHEET (CONTINUED)
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2016
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
Total Assets
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable
Retainage Payable
Accrued Wages and Benefits Payable
Due to Other Funds
Due to Other Governmental Units
Due to Constitutional Officers
Other Current Liabilities
Deposits in Escrow
Total Liabilities
Deferred Inflows of Resources:
Advances from Other Governments
Unavailable Revenues
Deferred Inflows of Resources
Fund Balances:
Nonspendable
Restricted
Committed
Assigned
Unassigned
Total Fund Balances
Total Liabilities, Deferred Inflows of
Resources and Fund Balances
CAPITAL
Total Nonmajor Clerk's Infrastructure
Special Rev Revenue Revenue Bonds
Funds Note Series 2007
$ 14,260,704 $
24,007 $ 1,386,732
71,963,130
80,454 -
9,277
- -
257,239
- -
564
- -
610,288
- -
5,532,883
- -
8,476,848
- -
(8,476,848)
- -
149,450
196 -
$ 92,783,535 $
104,657 $ 1,386,732
$ 2,201,830 $ - $ 2,500
13,622 - -
4,186,682 - 173,028
290,204 - -
72, 504 - 1,329 - 156,885 - -
6,923,056 - 175,528
255,562 - 255,562 - -
78,105,121 104,657 1,211,204
2,223,059 - -
5,276,737 - -
85,604,917 104,657 1,211,204
$ 92,783,535 $ 104,657 $ 1,386,732
G-9
PROJECT FUNDS
Total
Duck Key
Infrastructure Long Key
Land Nonmajor
Wastewater
Revenue Bonds Wastewater
Acquisition Governmental
Project
Series 2014 Project
Fund Funds
$ 283,885 $
7,746,489 $ 47,810 $
6,000,000 $ 29,749,627
2,098,689
- 252,381
- 74, 394, 654
-
- -
- 9,277
591,360
- -
- 848,599
45,248
- -
- 45,812
-
- 1,161,643
- 1,771,931
574
- -
- 5,533,457
-
- -
- 8,476,848
-
- -
- (8,476,848)
4,713
- 203
- 154,562
$ 3,024,469 $
7,746,489 $ 1,462,037 $
6,000,000 $ 112,507,919
$ 1,178 $ 355,598 $ - $ - $ 2,561,106
- 148,989 - - 162,611
2,343,081 - - - 6,702,791
- - - - 290,204
- - - - 72,504
- - - - 1,329
- - - - 156,885
2,344,259 504,587 - - 9,947,430
581,686
- - - 837,248
581,686
- - - 837,248
98,524
-
-
7,241,902 1,462,037 6,000,000 94,223,445
- - - 2,223,059
- - - 5,276,737
98,524
7,241,902 1,462,037 6,000,000 101,723,241
$ 3,024,469 $ 7,746,489 $ 1,462,037 $ 6,000,000 $ 112,507,919
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, 2016
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
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
$ -
$ 5,962,063
$ 12,354,567
$ 10,251,807
1,533
20,504
26,465
34,685
1,533
5,982,567
12,381,032
10,286,492
- 6,143,942 12,993,162 8,480,184
- 6,143,942 12,993,162 8,480,184
1,533 (161,375) (612,130) 1,806,308
- (58,182)
(39,610)
(59,799)
- 102,699
190,753
162,507
- 44,517
151,143
102,708
1,533 (116,858)
(460,987)
1,909,016
388,737 5,858,219
9,048,280
8,272,521
$ 390,270 $ 5,741,361 $ 8,587,293 $ 10,181,537
G-11
REVENUE FUNDS
Tourist
Development
District Two
$ 986,794 $
3,104
989,898
Tourist
Development
District Three
2,913,297 $
8,861
2,922,158
Tourist
Development
District Four
1,949,297 $
5,132
1,954,429
Tourist
Development
Impact Fees,
District Five
Roadways
2,215,435
$ - $
-
126,494
61578
91546
-
36,555 _
2,222,013
172,595
Impact Fees,
Parks, and
Recreation
67,940
2,487
70,427
- - - - 92,270 -
981,586 2,097,528 1,566,162 1,833,670 - -
- - - - - 13,355
981,586 2,097,528 1,566,162 1,833,670 92,270 13,355
8,312 824,630 388,267 388,343 80,325 57,072
(23,290)
(16,356)
(12,023)
(37,424)
(73,983) -
15,515
46,340
30,827
34,762
- -
(7,775)
29,984
18,804
(2,662)
(73,983) -
537
854,614
407,071
385,681
6,342 57,072
849,781
1,816,663
1,173,811
1,512,302
1,365,591 566,545
$ 850,318 $
2,671,277 $
1,580,882 $
1,897,983 $
1,371,933 $ 623,617
(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, 2016
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
Transfers from Constitutional Officers
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances -October 1
Fund Balances -September 30
SPECIAL
Impact Fees,
Impact Fees,
Impact Fees,
Impact Fees,
Libraries
Solid Waste
Police Facilities
Fire and EMS
43,788
7,993
29,467
12,756
4,195
344
397
312
47,983
8,337
29,864
13,068
47,983 8,337 29,864 13,068
47,983
8,337
29,864
13,068
1,034,099
80,769
72,666
68,479
$ 1,082,082 $
89,106 $
102,530 $
81,547
G-13
REVENUE FUNDS
Impact Fees,
Fire & Amb
Upper Keys
Unincorp.
Unincorp.
Employee
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
$ -
$ 9,992,794
$ -
$ 1,605,035
$ 646,077
$ 4,029,349
24,245
-
-
-
-
-
-
137,203
-
5,674
3,335,657
-
-
578,811
-
64,775
2,605,329
3,498,473
-
-
-
-
1,101,595
-
816
35,409
3,481
5,839
43,203
10,933
-
37,037
89,303
56,768
1,618
-
25,061
10,781,254
92,784
1,738,091
7,733,479
7,538,755
- 498,163 - - 2,401,690 201,060
- 10,582,788 - - 2,452,556 7,668,106
- - - - 642,126 -
- - 15,391 - - -
- - - 1,675,373 - -
- 11,080,951 15,391 1,675,373 5,496,372 7,869,166
25,061 (299,697) 77,393 62,718 2,237,107 (330,411)
(571,364)
(908,519)
(18,641)
(162,768)
(1,560,680)
(11,514)
-
202,119
-
24,188
8,310
385,651
(571,364)
(706,400)
(18,641)
(138,580)
(1,552,370)
374,137
(546,303)
(1,006,097)
58,752
(75,862)
684,737
43,726
571,364
6,282,834
793,426
1,042,836
9,596,259
2,368,998
$ 25,061 $
5,276,737 $
852,178 $
966,974 $
10,280,996 $
2,412,724
(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, 2016
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
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
-
75,858
-
-
-
-
384,392
-
458,175
-
-
770,986
295
1,704
5,104
9,435
-
-
115,210
5,202
458,470
77,562
504,706
785,623
- 1,000 - -
454,977 66,817 - -
- - - 487,785
- - 602,629 -
454,977 67,817 602,629 487,785
3,493 9,745 (97,923) 297,838
(94,654)
- - - (94,654)
3,493 9,745 (97,923) 203,184
(3,299) 405,406 1,218,904 2,332,406
$ 194 $ 415,151 $ 1,120,981 $ 2,535,590
G-15
REVENUE FUNDS
Miscellaneous
Special
Revenue
Law
Environmental Enforcement
Restoration Trust
Court
Facility
Fees
Drug Marathon
Abuse Municipal
Trust Service
$ -
$ - $ -
$ - $
- $ 2
128,434
- -
-
- -
406,369
- -
460,105
28,206 -
220,466
533,013 -
-
- -
10,867
7,249 2,391
12,450
508 7
184,537
- -
-
- -
950,673
540,262 2,391
472,555
28,714 9
4,471 - - - - -
326,933 - 51,248 - - -
- 872,982 - - - -
28,668 - - - 55,889 -
9,227 - - - - -
222,830 - - 180,136 - -
592,129 872,982 51,248 180,136 55,889 -
358,544 (332,720) (48,857) 292,419 (27,175) 9
1,471
-
- -
- -
-
(24,862)
- -
(2,043) -
-
-
20,722 -
- -
1,471
(24,862)
20,722 -
(2,043) -
360,015
(357,582)
(28,135) 292,419
(29,218) 9
2,430,252
1,995,790
668,124 2,929,291
143,028 1,844
$ 2,790,267 $
1,638,208 $
639,989 $ 3,221,710 $
113,810 $ 1,853
(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, 2016
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
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
$ - $ 13 $ 2 $ -
- - - 26,494
183 5 24 13,317
- - - 3,575
183 18 26 43,386
- - - 1,000
733 838 - 19,039
733 838 - 20,039
550) (820) 26 23,347
- - - 513
- - - 513
(550) (820) 26 23,860
46,725 1,425 6,580 652,176
$ 46,175 $ 605 $ 6,606 $ 676,036
G-17
REVENUE FUNDS
Cudjoe- Long Key,
Sugarloaf Conch Key Layton Duck Key Building Road and
MSTU MSTU MSTU MSTU Fund Bridge
$ - $ - $ - $ - $ - $ 2,534,862
- - 4,417 - 4,761,298 -
- - - - - 3,645,484
- - - - 116,931 89,017
1 9 1,008 348 16,512 54,566
- - - - 39,190 31,055
1 9 5,425 348 4,933,931 6,354,984
-
-
-
- -
- 3,741
- -
-
321
-
3,563,281
-
-
-
-
5,175,452
-
- 3,741
321
3,563,281
5,175,452
1
9 1,684
27
1,370,650
1,179,532
-
(6)
- -
- -
-
-
571,364
(509,033)
73,983
(709,983)
(6)
- -
-
62,331
(636,000)
(5)
5
9 1,684
469 255,736
27
62,286
1,432,981
2,596,187
543,532
12,438,425
$ - $
478 $ 257,420 $
62,313 $
4,029,168 $
12,981,957
(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, 2016
CAPITAL
Total Nonmajor
Clerk's
Infrastructure
Special Rev
Revenue
Revenue Bonds
Funds
Note
Series 2007
Revenues:
Taxes
$ 55,441,394
$ -
$ -
Licenses and Permits
5,309,184
-
-
Intergovernmental
7,508,410
-
-
Charges for Services
9,077,177
-
-
Fines and Forfeitures
1,855,074
-
-
Investment Income
359,807
2,261
2,567
Miscellaneous
600,050
-
-
Total Revenues
80,151,096
2,261
2,567
Expenditures:
Current:
General Government
3,107,384
-
-
Public Safety
25,166,706
-
-
Physical Environment
2,027,565
-
-
Transportation
5,267,722
-
-
Economic Environment
34,698,863
-
-
Human Services
99,948
-
-
Culture and Recreation
1,697,955
-
-
Court Related
402,966
-
-
Capital Projects
-
-
19,071
Total Expenditures
72,469,109
-
19,071
Excess/Deficiency of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
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
7,681,987 2,261 (16,504
646,818 - -
(4,894,734) - -
1,224,906 - -
(3,023,010) - -
4,658,977 2,261 (16,504)
80,945,940 102,396 1,227,708
Fund Balances -September 30 $ 85,604,917 $ 104,657 $ 1,211,204
G-19
PROJECT FUNDS
Total
Duck Key
Infrastructure Long Key Land
Nonmajor
Wastewater
Revenue Bonds Wastewater Acquisition
Governmental
Project
Series 2014 Project Fund
Funds
$ -
$ - $ - $ -
$ 55,441,394
92,740
- - -
5,401,924
-
- - -
7,508,410
-
- - -
9,077,177
-
- - -
1,855,074
27,178
34,986 394 -
427,193
7,197
- - -
607,247
127,115
34,986 394 -
80,318,419
- 43,979 -
- 3,151,363
- 25,641 -
- 25,192,347
- - -
- 2,027,565
- - -
- 5,267,722
- - -
- 34,698,863
- - -
- 99,948
- - -
- 1,697,955
- - -
- 402,966
126,922 2,009,024 138,357
- 2,293,374
126,922 2,078,644 138,357
- 74,832,103
193 (2,043,658) (137,963
- 5,486,316
- -
1,600,000
6,000,000
8,246,818
(2,500,000) -
-
-
(7,394,734)
574 -
-
-
1,225,480
(2,499,426) -
1,600,000
6,000,000
2,077,564
(2,499,233) (2,043,658)
1,462,037
6,000,000
7,563,880
2,597,757 9,285,560
-
-
94,159,361
$ 98,524 $ 7,241,902 $
1,462,037 $
6,000,000
$ 101,723,241
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, 2016
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)
$ 1,100 $ 1,100 $ 1,533 $ 433
1,100 1,100 1,533 433
290,000 290,000
290,000 290,000
(288,900) (288,900)
290,000
290,000
1,533 290,433
Reserve for Contingencies
(9,360)
(9,360)
- 9,360
Reserve for Cash Balance
(12,642)
(12,642)
- 12,642
Total Other Financing Sources (Uses)
(22,002)
(22,002)
- 22,002
Net Change in Fund Balances
(310,902)
(310,902)
1,533 312,435
Fund Balances, October 1
310,902
310,902
388,737 77,835
Fund Balances, September 30
$ - $
- $
390,270 $ 390,270
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, 2016
REVENUES:
Taxes
Investment Income
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)
$ 5,533,500
$ 5,533,500
$ 5,962,063
$ 428,563
-
-
20,504
20,504
5,533,500
5,533,500
5,982,567
449,067
1,355,096
1,355,096
1,084,796
270,300
1,072,000
1,072,000
914,590
157,410
1,000,000
1,000,000
985,556
14,444
3,265,169
3,265,169
2,091,158
1,174,011
1,827,833
1,827,833
-
1,827,833
1,663,487
1,663,487
1,067,842
595,645
10,183,585 10,183,585 6,143,942 4,039,643
(4,650,085) (4,650,085) (161,375) 4,488,710
Other Financing Sources (Uses):
Transfers to Other Funds (75,436) (75,436) (58,182) 17,254
Transfers from Constitutional Officers - - 102,699 102,699
Total Other Financing Sources (Uses) (75,436) (75,436) 44,517 119,953
Net Change in Fund Balances (4,725,521) (4,725,521) (116,858) 4,608,663
Fund Balances, October 1 4,725,521 4,725,521 5,858,219 1,132,698
Fund Balances, September 30 $ - $ - $ 5,741,361 $ 5,741,361
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, 2016
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)
$ 11,466,500
$ 11,466,500
$ 12,354,567
$ 888,067
-
-
26,465
26,465
11,466,500
11,466,500
12,381,032
914,532
11,371,858
11,371,858 10,355,476
1,016,382
1,334,088
1,334,088 945,578
388,510
2,272,167
2,272,167 -
2,272,167
1,692,336
1,692,336 1,692,108
228
16,670,449 16,670,449 12,993,162 3,677,287
(5,203,949) (5,203,949) (612,130) 4,591,819
Other Financing Sources (Uses):
Transfers to Other Funds (263,502) (263,502) (39,610) 223,892
Transfers from Constitutional Officers - - 190,753 190,753
Total Other Financing Sources (Uses) (263,502) (263,502) 151,143 414,645
Net Change in Fund Balances (5,467,451) (5,467,451) (460,987) 5,006,464
Fund Balances, October 1 5,467,451 5,467,451 9,048,280 3,580,829
Fund Balances, September 30 $ - $ - $ 8,587,293 $ 8,587,293
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, 2016
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
Other Financing Sources (Uses):
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)
$ 9,671,300
$ 9,671,300
$ 10,251,807
$ 580,507
-
-
34,685
34,685
9,671,300
9,671,300
10,286,492
615,192
5,778,502
5,778,502
314,847
255,048
488,983
488,983
7,267,410
7,267,410
383,761
383,761
314,047
314,047
5,441,531
336,971
14,875
240,173
333,991
154,992
2,306,026
4,961,384
383,761
-
-
314,047
14,547,550 14,487,751 8,480,184 6,007,567
(4,876,250) (4,816,451) 1,806,308 6,622,759
(59,799) (59,799) -
162,507 162,507
(59,799) 102,708 162,507
(4,876,250) (4,876,250) 1,909,016 6,785,266
4,876,250 4,876,250 8,272,521 3,396,271
$ 10,181,537 $ 10,181,537
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, 2016
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
Other Financing Sources (Uses):
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)
$ 996,200
$ 996,200
$ 986,794
$ (9,406)
-
-
3,104
3,104
996,200
996,200
989,898
(6,302)
774,676
774,676
746,586
28,090
35,930
12,640
1,674
10,966
20,000
20,000
15,000
5,000
412,892
412,892
122,566
290,326
95,760
95,760
95,760
-
1,339,258
1,315,968
981,586
334,382
(343,058) (319,768) 8,312 328,080
(23,290) (23,290) -
15,515 15,515
(23,290) (7,775) 15,515
(343,058) (343,058) 537 343,595
343,058 343,058 849,781 506,723
$ 850,318 $ 850,318
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, 2016
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
Other Financing Sources (Uses):
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)
$ 2,427,600
$ 2,427,600
$ 2,913,297
$ 485,697
-
-
8,861
8,861
2,427,600
2,427,600
2,922,158
494,558
1,333,751
1,333,751
1,301,368
32,383
77,447
61,091
3,358
57,733
60,520
60,520
55,648
4,872
1,612,480
1,612,480
569,154
1,043,326
168,000
168,000
168,000
-
3,252,198 3,235,842 2,097,528 1,138,314
(824,598) (808,242) 824,630 1,632,872
(16,356) (16,356) -
46,340 46,340
(16,356) 29,984 46,340
(824,598) (824,598) 854,614 1,679,212
824,598 824,598 1,816,663 992,065
$ 2,671,277 $ 2,671,277
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, 2016
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
Other Financing Sources (Uses):
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)
$ 1,864,900
$ 1,864,900
$ 1,949,297
$ 84,397
-
-
5,132
5,132
1,864,900
1,864,900
1,954,429
89,529
1,362,880
1,362,880
1,195,174
167,706
63,472
51,449
3,160
48,289
120,979
120,979
28,921
92,058
769,425
769,425
181,407
588,018
157,500
157,500
157,500
-
2,474,256 2,462,233 1,566,162 896,071
(609,356) (597,333) 388,267 985,600
(12,023) (12,023) -
30,827 30,827
(12,023) 18,804 30,827
(609,356) (609,356) 407,071 1,016,427
609,356 609,356 1,173,811 564,455
$ 1,580,882 $ 1,580,882
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, 2016
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
Other Financing Sources (Uses):
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)
$ 2,040,000
$ 2,040,000
$ 2,215,435
$ 175,435
-
-
6,578
6,578
2,040,000
2,040,000
2,222,013
182,013
1,564,090
1,564,090
1,397,707
166,383
70,173
32,749
2,461
30,288
149,100
149,100
149,100
-
95,156
95,156
45,004
50,152
841,216
841,216
239,398
601,818
2,719,735 2,682,311 1,833,670 848,641
(679,735) (642,311) 388,343 1,030,654
(37,424) (37,424) -
34,762 34,762
(37,424) (2,662) 34,762
(679,735) (679,735) 385,681 1,065,416
679,735 679,735 1,512,302 832,567
$ 1,897,983 $ 1,897,983
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, 2016
REVENUES:
Licenses and Permits
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Transportation:
Roadway Projects
Truman Bridge Ped Bridge
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)
$ 83,061
$ 83,061
$ 126,494
$ 43,433
9,464
9,464
9,546
82
-
-
36,555
36,555
92,525
92,525
172,595
80,070
220,403
170,403
- 170,403
929,520
929,520
- 929,520
63,598
113,598
92,270 21,328
35,554
35,554
- 35,554
1,249,075
1,249,075
92,270 1,156,805
(1,156,550) (1,156,550) 80,325 1,236,875
Other Financing Sources (Uses):
Transfers to Other Funds (73,983) (73,983) (73,983)
Total Other Financing Sources (Uses) (73,983) (73,983) (73,983)
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
(1,230,533) (1,230,533) 6,342 1,236,875
1,230,533 1,230,533 1,365,591 135,058
$ 1,371,933 $ 1,371,933
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, 2016
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)
$ 28,341
$ 28,341
$ 67,940
$ 39,599
1,199
1,199
2,487
1,288
29,540
29,540
70,427
40,887
49,234
49,234
- 49,234
213,420
213,420
- 213,420
119,867
119,867
- 119,867
16,856
16,856
- 16,856
20,000
20,000
13,355 6,645
25,400
25,400
- 25,400
444,777
444,777
13,355 431,422
(415,237) (415,237) 57,072 472,309
(415,237) (415,237) 57,072 472,309
415,237 415,237 566,545 151,308
$ 623,617 $ 623,617
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, 2016
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)
$ 30,000
$ 30,000
$ 43,788
$ 13,788
2,700
2,700
4,195
1,495
32,700
32,700
47,983
15,283
798,585 798,585 - 798,585
21,297 21,297 - 21,297
819,882 819,882 - 819,882
(787,182) (787,182) 47,983 835,165
(787,182) (787,182) 47,983 835,165
787,182 787,182 1,034,099 246,917
$ 1,082,082 $ 1,082,082
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, 2016
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
Original Final
Budget Budget
Variance with
Final Budget
Positive
Actual (Negative)
$ 7,400 $ 7,400 $ 7,993 $ 593
150 150 344 194
7,550 7,550 8,337 787
68,563 68,563 - 68,563
68,563 68,563 - 68,563
(61,013) (61,013) 8,337 69,350
(61,013) (61,013) 8,337 69,350
61,013 61,013 80,769 19,756
89,106 $ 89,106
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, 2016
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
Net Change in Fund Balances
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 17,500 $ 17,500 $ 29,467 $ 11,967
200 200 397 197
17,700 17,700 29,864 12,164
68,494 68,494 - 68,494
68,494 68,494 - 68,494
(50,794) (50,794) 29,864 80,658
(50,794) (50,794) 29,864 80,658
Fund Balances, October 1 50,794 50,794 72,666 21,872
Fund Balances, September 30 $ - $ - $ 102,530 $ 102,530
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, 2016
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Licenses and Permits
$ 15,610
$ 15,605
$ 12,756
$ (2,849)
Investment Income
125
130
312
182
Total Revenues
15,735
15,735
13,068
(2,667)
EXPENDITURES:
Current:
Public Safety:
District 1 Fire & EMS Project
25,861
25,861
- 25,861
District 2 Fire & EMS Project
625
625
- 625
District 3 Fire & EMS Project
25,995
25,995
- 25,995
Key Colony Beach Fire & EMS
925
925
- 925
Total Expenditures
53,406
53,406
- 53,406
Excess/Deficiency of Revenues
Over (Under) Expenditures (37,671) (37,671) 13,068 50,739
Net Change in Fund Balances (37,671) (37,671) 13,068 50,739
Fund Balances, October 1 37,671 37,671 68,479 30,808
Fund Balances, September 30 $ - $ - $ 81,547 $ 81,547
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, 2016
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Licenses and Permits $ 5,000 $ 5,000 $ 24,245 $ 19,245
Investment Income 1,700 1,700 816 (884)
Total Revenues 6,700 6,700 25,061 18,361
EXPENDITURES:
Current:
Economic Environment:
District 1 Employee Fair Share Housing 155,000 - - -
District 3 Employee Fair Share Housing 145,000 - - -
Total Expenditures 300,000 - - -
Excess/Deficiency of Revenues
Over (Under) Expenditures (293,300) 6,700 25,061 18,361
Other Financing Sources (Uses):
Reserve for Contingencies (18,952) (6,365) - 6,365
Reserve for Cash Balance (47,660) - - -
Transfers to Other Funds - (571,364) (571,364) -
Total Other Financing Sources (Uses) (66,612) (577,729) (571,364) 6,365
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
(359,912) (571,029) (546,303) 24,726
359,912 571,029 571,364 335
$ - $ - $ 25,061 $ 25,061
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, 2016
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 District
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)
$ 10,363,483 $ 10,363,483 $ 9,992,794 $ (370,689)
46,500
46,500
137,203
90,703
626,000
626,000
578,811
(47,189)
27,500
27,500
35,409
7,909
-
-
37,037
37,037
11,063,483
11,063,483
10,781,254
(282,229)
309,854
309,854
293,376
16,478
220,514
220,514
204,787
15,727
530,368
530,368
498,163
32,205
10,385,682 11,027,531 10,582,973 444,558
- - (185) 185
10,385,682 11,027,531 10,582,788 444,743
10,916,050 11,557,899 11,080,951 476,948
147,433 (494,416) (299,697) 194,719
(641,849)
- - -
(2,004,502)
(2,004,502) - 2,004,502
(908,519)
(908,519) (908,519) -
170,000
170,000 202,119 32,119
(3,384,870)
(2,743,021) (706,400) 2,036,621
(3,237,437) (3,237,437) (1,006,097) 2,231,340
3,237,437 3,237,437 6,282,834 3,045,397
$ 5,276,737 $ 5,276,737
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, 2016
REVENUES:
Investment Income
Miscellaneous
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)
$ 3,000
$ 3,000
$ 3,481
$ 481
-
-
89,303
89,303
3,000
3,000
92,784
89,784
15,995
15,995
13,347 2,648
200,000
200,000
1,664 198,336
2,000
2,000
380 1,620
100
100
- 100
218,095 218,095 15,391 202,704
(215,095) (215,095) 77,393 292,488
Reserve for Contingencies (28,000) (28,000) - 28,000
Reserve for Cash Balance (36,114) (36,114) - 36,114
Transfers to Other Funds (18,641) (18,641) (18,641) -
Total Other Financing Sources (Uses) (82,755) (82,755) (18,641) 64,114
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
(297,850) (297,850) 58,752 356,602
297,850 297,850 793,426 495,576
$ 852,178 $ 852,178
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, 2016
REVENUES:
Taxes
Intergovernmental
Charges for Services
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
General Government:
Tax Collector
Culture and Recreation:
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 1,662,725 $ 1,662,725 $ 1,605,035 $ (57,690)
-
-
5,674
5,674
40,000
40,000
64,775
24,775
4,000
4,000
5,839
1,839
58,000
58,000
56,768
(1,232)
1,764,725
1,764,725
1,738,091
(26,634)
70,000 70,000 47,194 22,806
Parks and Beaches Unincorporated
1,506,069
1,506,069
1,421,679 84,390
Jacob's Aquatic Center
180,000
180,000
180,000 -
School Board Interlocal
29,500
29,500
26,500 3,000
Total Culture and Recreation
1,715,569
1,715,569
1,628,179 87,390
Total Expenditures 1,785,569 1,785,569 1,675,373 110,196
Excess/Deficiency of Revenues
Over (Under) Expenditures (20,844) (20,844) 62,718 83,562
Other Financing Sources (Uses):
Reserve for Contingencies
(78,000)
(78,000) -
78,000
Reserve for Cash Balance
(340,555)
(340,555) -
340,555
Transfers to Other Funds
(162,768)
(162,768) (162,768)
-
Transfers from Constitutional Officers
-
- 24,188
24,188
Total Other Financing Sources (Uses)
(581,323)
(581,323) (138,580)
442,743
Net Change in Fund Balances (602,167) (602,167) (75,862) 526,305
Fund Balances, October 1 602,167 602,167 1,042,836 440,669
Fund Balances, September 30 $ - $ - $ 966,974 $ 966,974
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, 2016
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Taxes
$ 665,000
$ 665,000
$ 646,077
$ (18,923)
Intergovernmental
2,849,523
2,849,523
3,335,657
486,134
Charges for Services
2,040,000
2,040,000
2,605,329
565,329
Fines and Forfeitures
470,000
470,000
1,101,595
631,595
Investment Income
25,000
25,000
43,203
18,203
Miscellaneous
-
-
1,618
1,618
Total Revenues
6,049,523
6,049,523
7,733,479
1,683,956
Expenditures:
Current:
General Government:
Tax Collector
-
5,000
-
5,000
Property Appraiser
40,451
40,451
32,879
7,572
Growth Mgmt County Attorney
450,807
455,807
453,690
2,117
Planning Department
1,545,550
1,545,550
1,238,950
306,600
2010 Comprehensive Plan
130,000
130,000
60,342
69,658
GIS
213,070
213,070
151,037
62,033
Planning Commission
82,176
82,176
69,542
12,634
Growth Mgmt Administration
705,630
705,630
395,250
310,380
Total General Government
3,167,684
3,177,684
2,401,690
775,994
Public Safety:
Code Enforcement
1,434,535
1,434,535
1,228,000
206,535
Fire & Rescue Coordinator
820,928
820,928
718,990
101,938
Fire Marshall
440,223
440,223
406,240
33,983
Fire Refund
-
21,500
20,326
1,174
Planning Refund
12,000
79,000
79,000
-
Total Public Safety
2,707,686
2,796,186
2,452,556
343,630
Physical Environment:
Environmental Resources 751,221 751,221 642,126 109,095
Total Physical Environment 751,221 751,221 642,126 109,095
Total Expenditures 6,626,591 6,725,091 5,496,372 1,228,719
Excess/Deficiency of Revenues
Over (Under) Expenditures (577,068) (675,568) 2,237,107 2,912,675
(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, 2016
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)
(468,426)
(332,426)
-
332,426
(1,647,409)
(1,647,409)
-
1,647,409
(1,547,942)
(1,585,442)
(1,560,680)
24,762
4,500
4,500
8,310
3,810
(3,659,277)
(3,560,777)
(1,552,370)
2,008,407
(4,236,345) (4,236,345) 684,737 4,921,082
4,236,345 4,236,345 9,596,259 5,359,914
$ 10,280,996 $ 10,280,996
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, 2016
REVENUES:
Taxes
Charges for Services
Investment Income
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 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)
$ 4,177,433
$ 4,177,433
$ 4,029,349
$ (148,084)
3,522,028
3,522,028
3,498,473
(23,555)
6,900
6,900
10,933
4,033
7,706,361
7,706,361
7,538,755
(167,606)
124,903 124,903 118,486 6,417
86,470 86,470 82,574 3,896
211,373 211,373 201,060 10,313
543,749
513,749
466,889
46,860
226,995
256,995
236,736
20,259
203,187
203,187
178,711
24,476
3,693,924
3,693,924
3,693,924
-
1,673,120
1,673,120
1,673,120
-
1,418,726
1,418,726
1,418,726
-
7,759,701
7,759,701
7,668,106
91,595
7,971,074 7,971,074 7,869,166 101,908
(264,713) (264,713) (330,411) (65,698)
(95,000)
(95,000)
- 95,000
(807,462)
(807,462)
- 807,462
(11,514)
(11,514)
(11,514) -
260,000
260,000
385,651 125,651
(653,976)
(653,976)
374,137 1,028,113
(918,689) (918,689) 43,726 962,415
918,689 918,689 2,368,998 1,450,309
$ 2,412,724 $ 2,412,724
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, 2016
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual (Negative)
REVENUES:
Charges for Services
$ 501,619
$ 538,153
$ 458,175 $ (79,978)
Investment Income
245
245
295 50
Total Revenues
501,864
538,398
458,470 (79,928)
EXPENDITURES:
Current:
Public Safety:
911 Enhancement Fund 238,115 238,115 158,366 79,749
911 Wireless 263,749 300,283 296,611 3,672
Total Expenditures 501,864 538,398 454,977 83,421
Excess/Deficiency of Revenues
Over (Under) Expenditures - - 3,493 3,493
Net Change in Fund Balances - - 3,493 3,493
Fund Balances, October 1 - - (3,299) (3,299)
Fund Balances, September 30 $ - $ - $ 194 $ 194
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, 2016
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Licenses and Permits
$ 75,000
$ 75,000
$ 75,858
$ 858
Investment Income
1,100
1,100
1,704
604
Total Revenues
76,100
76,100
77,562
1,462
EXPENDITURES:
Current:
General Government:
Tax Collector 2,250 2,250 1,000 1,250
Public Safety:
Island Security 247,500 247,500 66,817 180,683
Total Expenditures 249,750 249,750 67,817 181,933
Excess/Deficiency of Revenues
Over (Under) Expenditures (173,650) (173,650) 9,745 183,395
Other Financing Sources (Uses):
Reserve for Contingencies (35,398) (35,398) - 35,398
Reserve for Cash Balance (68,831) (68,831) - 68,831
Total Other Financing Sources (Uses) (104,229) (104,229) - 104,229
Net Change in Fund Balances (277,879) (277,879) 9,745 287,624
Fund Balances, October 1 277,879 277,879 405,406 127,527
Fund Balances, September 30 $ - $ - $ 415,151 $ 415,151
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, 2016
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Intergovernmental
$ 373,310
$ 373,310
$ 384,392
$ 11,082
Investment Income
4,500
4,500
5,104
604
Miscellaneous
-
-
115,210
115,210
Total Revenues
377,810
377,810
504,706
126,896
EXPENDITURES:
Current:
Economic Environment:
Homeowner Assistance 14
458,454
458,454
405,002
53,452
Homeowner Assistance 15
365,717
365,717
134,056
231,661
Homeowner Assistance 16
350,000
350,000
-
350,000
Fair Housing 14
5,000
5,000
-
5,000
Fair Housing 15
5,000
5,000
-
5,000
Fair Housing 16
5,000
5,000
-
5,000
Administration 14
35,500
35,500
35,500
-
Administration 15
35,500
35,500
28,071
7,429
Administration 16
35,500
35,500
-
35,500
Total Expenditures 1,295,671 1,295,671 602,629 693,042
Excess/Deficiency of Revenues
Over (Under) Expenditures
(917,861)
(917,861) (97,923)
819,938
Other Financing Sources (Uses):
Reserve for Contingencies
(13,223)
(13,223) -
13,223
Reserve for Cash Balance
(13,222)
(13,222) -
13,222
Total Other Financing Sources (Uses)
(26,445)
(26,445) -
26,445
Net Change in Fund Balances
Fund Balances, October 1
(944,306) (944,306)
944,306 944,306
(97,923) 846,383
1,218,904 274,598
Fund Balances, September 30 $ - $ - $ 1,120,981 $ 1,120,981
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, 2016
REVENUES:
Charges for Services
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Boating Improvement
Boating Imp Fees/Retained Vessel
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 655,000
$ 655,000
$ 770,986
$ 115,986
8,000
8,000
9,435
1,435
2,600
22,393
5,202
(17,191)
665,600
685,393
785,623
100,230
1,551,567 1,625,552 227,955 1,397,597
456,701 399,251 259,830 139,421
2,008,268 2,024,803 487,785 1,537,018
(1,342,668) (1,339,410) 297,838 1,637,248
Reserve for Contingencies
(216,600) (30,667)
- 30,667
Reserve for Cash Balance
(303,391) (303,391)
- 303,391
Transfers to Other Funds
- (189,191)
(94,654) 94,537
Total Other Financing Sources (Uses)
(519,991) (523,249)
(94,654) 428,595
Net Change in Fund Balances (1,862,659) (1,862,659) 203,184 2,065,843
Fund Balances, October 1 1,862,659 1,862,659 2,332,406 469,747
Fund Balances, September 30 $ - $ - $ 2,535,590 $ 2,535,590
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, 2016
REVENUES:
Licenses and Permits
Charges for Services
Fines and Forfeitures
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
General Government:
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
Climate Leadership Summit
Total Public Safety
Human Services:
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ - $ 128,433 $ 128,434 $ 1
324,260 406,369 82,109
91,605 220,466 128,861
- 10,867 10,867
94,387 184,537 90,150
638,685 950,673 311,988
15,000 15,000 - 15,000
- 6,000 4,471 1,529
15,000 21,000 4,471 16,529
140,000
140,000
128,950
11,050
23,400
79,141
13,955
65,186
40,000
107,893
13,425
94,468
-
4,800
-
4,800
-
45,313
27,242
18,071
50,000
191,387
143,361
48,026
253,400
568,534
326,933
241,601
FL Keys Council for the Handicapped
- 3,595
310 3,285
Bayshore Donations
940 940
- 940
Traffic Educ, Ord 021-2002
50,000 130,128
- 130,128
Legal Aid
- 26,389
28,358 (1,969)
Total Human Services
50,940 161,052
28,668 132,384
Culture and Recreation:
Settler's Park Landscaping
- 3,782
1,178
2,604
Library Special Programs
- 55,929
5,549
50,380
Library Donation -Golan Trust
305,000 294,037
2,500
291,537
Total Culture and Recreation
305,000 353,748
9,227
344,521
(Continued)
G-46
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, 2016
Court Related:
Teen Court - Ord 016-2004
Ord 016-2004 St Court Sup
SA Ct Tech FS28.24(12)(E)
PD Ct Tech FS28.24(12)(E)
J Ct Tech FS28.24(12)(E)
Total Court Related
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Original Final
Budget Budget Actual
Variance with
Final Budget
Positive
(Negative)
-
26,389
26,389
-
15,000
77,563
12,941
64,622
375,000
533,609
46,239
487,370
10,000
76,585
24,101
52,484
45,218
382,047
113,160
268,887
445,218
1,096,193
222,830
873,363
1,069,558 2,200,527 592,129 1,608,398
(1,069,558) (1,561,842) 358,544 1,920,386
Reserve for Contingencies (766,996) (251,327) - 251,327
Transfers to Other Funds - (26,385) - 26,385
Transfers from Other Funds - 3,000 1,471 (1,529)
Total Other Financing Sources (Uses) (766,996) (274,712) 1,471 276,183
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
(1,836,554) (1,836,554) 360,015
1,836,554 1,836,554 2,430,252
2,196,569
593,698
$ 2,790,267 $ 2,790,267
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, 2016
REVENUES:
Fines and Forfeitures
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Environmental Restoration
KLWT Plant Site Mitg Pro
Total Physical Environment
Culture and Recreation:
Settler's Park
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 255,000 $ 255,000 $ 533,013 $ 278,013
4,700 4,700 7,249 2,549
259,700 259,700 540,262 280,562
231,724 206,724 179,022 27,702
694,677 694,677 693,960 717
926,401 901,401 872,982 28,419
9,083 - 9,083
926,401 910,484 872,982 37,502
(666,701) (650,784) (332,720) 318,064
Reserve for Contingencies (138,564) (129,481) - 129,481
Reserve for Cash Balance (266,241) (266,241) - 266,241
Transfers to Other Funds - (25,000) (24,862) 138
Total Other Financing Sources (Uses) (404,805) (420,722) (24,862) 395,860
Net Change in Fund Balances (1,071,506) (1,071,506) (357,582) 713,924
Fund Balances, October 1 1,071,506 1,071,506 1,995,790 924,284
Fund Balances, September 30 $ - $ - $ 1,638,208 $ 1,638,208
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, 2016
REVENUES:
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Public Safety:
Law Enforcement
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 1,750 $ 1,750 $ 2,391 $ 641
- 175,713 - (175,713)
1,750 177,463 2,391 (175,072)
345,000 520,713 51,248 469,465
345,000 520,713 51,248 469,465
(343,250) (343,250) (48,857) 294,393
Reserve for Contingencies (48,947) (48,947) - 48,947
Reserve for Cash Balance (98,487) (98,487) - 98,487
Transfers from Constitutional Officers - - 20,722 20,722
Total Other Financing Sources (Uses) (147,434) (147,434) 20,722 168,156
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
(490,684) (490,684) (28,135) 462,549
490,684 490,684 668,124 177,440
$ 639,989 $ 639,989
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, 2016
REVENUES:
Charges for Services
Investment Income
Total Revenues
EXPENDITURES:
Current:
Court Related:
Court Facility
Total Expenditures
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 517,584
$ 517,584
$ 460,105
$ (57,479)
7,500
7,500
12,450
4,950
525,084
525,084
472,555
(52,529)
348,855 348,855 180,136 168,719
348,855 348,855 180,136 168,719
Excess/Deficiency of Revenues
Over (Under) Expenditures
176,229
176,229 292,419
116,190
Other Financing Sources (Uses):
Reserve for Contingencies
(49,910)
(49,910) -
49,910
Reserve for Cash Balance
(99,691)
(99,691) -
99,691
Total Other Financing Sources (Uses)
(149,601)
(149,601) -
149,601
Net Change in Fund Balances 26,628 26,628 292,419 265,791
Fund Balances, October 1 (26,628) (26,628) 2,929,291 2,955,919
Fund Balances, September 30 $ - $ - $ 3,221,710 $ 3,221,710
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, 2016
REVENUES:
Charges for Services
Investment Income
Total Revenues
EXPENDITURES:
Current:
Human Services:
Drug Abuse Trust Fund
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 30,000 $ 30,000 $ 28,206 $ (1,794)
380 380 508 128
30,380 30,380 28,714 (1,666)
96,000 93,957 55,889 38,068
96,000 93,957 55,889 38,068
(65,620) (63,577) (27,175) 36,402
Reserve for 164 (12,230) (12,230) - 12,230
Reserve for Cash Balance (27,057) (27,057) - 27,057
Transfers to Other Funds - (2,043) (2,043) -
Total Other Financing Sources (Uses) (39,287) (41,330) (2,043) 39,287
Net Change in Fund Balances (104,907) (104,907) (29,218) 75,689
Fund Balances, October 1 104,907 104,907 143,028 38,121
Fund Balances, September 30 $ - $ - $ 113,810 $ 113,810
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, 2016
REVENUES:
Taxes
Investment Income
Total Revenues
EXPENDITURES:
Current:
General Government:
Tax Collector
Physical Environment:
Marathon Wastewater
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)
$ - $ - $ 2 $ 2
7 7
9 9
5 - 5
246 246 - 246
246 251 - 251
(246) (251) 9 260
(312) (307) - 307
(312) (307) - 307
(558) (558) 9 567
558 558 1,844 1,286
$ - $ - $ 1,853 $ 1,853
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, 2016
REVENUES:
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Bay Point Wastewater
Total Expenditures
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ - $ - $ 183 $ 183
183 183
23,000 23,000 733 22,267
23,000 23,000 733 22,267
Excess/Deficiency of Revenues
Over (Under) Expenditures
(23,000)
(23,000) (550)
22,450
Other Financing Sources (Uses):
Reserve for Contingencies
(2,760)
(2,760) -
2,760
Reserve for Cash Balance
(2,862)
(2,862) -
2,862
Total Other Financing Sources (Uses)
(5,622)
(5,622) -
5,622
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
(28,622) (28,622) (550) 28,072
28,622 28,622 46,725 18,103
46,175 $ 46,175
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, 2016
REVENUES:
Taxes
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Big Coppitt Wastewater
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Reserve for Cash Balance
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)
$ - $ - $ 13 $ 13
5 5
18 18
1,260 1,260 838 422
1,260 1,260 838 422
(1,260) (1,260) (820) 440
(40) (40) - 40
(29) (29) - 29
(69) (69) - 69
(1,329) (1,329) (820) 509
1,329 1,329 1,425 96
$ - $ - $ 605 $ 605
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, 2016
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Taxes
$ -
$ - $
2
$ 2
Investment Income
-
-
24
24
Total Revenues
-
-
26
26
EXPENDITURES:
Current:
Physical Environment:
Key Largo Wastewater
2,400
2,400
-
2,400
Total Expenditures
2,400
2,400
-
2,400
Excess/Deficiency of Revenues
Over (Under) Expenditures
(2,400)
(2,400)
26
2,426
Other Financing Sources (Uses):
Reserve for Contingencies
(770)
(770)
-
770
Total Other Financing Sources (Uses)
(770)
(770)
-
770
Net Change in Fund Balances
(3,170)
(3,170)
26
3,196
Fund Balances, October 1
3,170
3,170
6,580
3,410
Fund Balances, September 30
$ -
$ - $
6,606
$ 6,606
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, 2016
REVENUES:
Licenses and Permits
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
General Government:
Tax Collector Fees
Physical Environment:
Stock Island Wastewater
Total Expenditures
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
$ 42,000
$ 42,000
$ 26,494
$ (15,506)
1,700
1,700
13,317
11,617
-
-
3,575
3,575
43,700
43,700
43,386
(314)
1,500 1,500 1,000 500
350,900 350,900 19,039 331,861
352,400 352,400 20,039 332,361
Excess/Deficiency of Revenues
Over (Under) Expenditures
(308,700)
(308,700) 23,347
332,047
Other Financing Sources (Uses):
Reserve for Contingencies
(50,356)
(50,356) -
50,356
Reserve for Cash Balance
(100,690)
(100,690) -
100,690
Transfers from Constitutional Officers
425
425 513
88
Total Other Financing Sources (Uses)
(150,621)
(150,621) 513
151,134
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
(459,321) (459,321) 23,860 483,181
459,321 459,321 652,176 192,855
$ 676,036 $ 676,036
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, 2016
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ - $ - $ 1 $ 1
Total Revenues - - 1 1
EXPENDITURES:
Current:
Physical Environment:
Cudjoe-Sugarloaf Wastewater 3,662 3,662 - 3,662
Total Expenditures 3,662 3,662 - 3,662
Excess/Deficiency of Revenues
Over (Under) Expenditures (3,662) (3,662) 1 3,663
Other Financing Sources (Uses):
Transfers to Other Funds - - (6) (6)
Total Other Financing Sources (Uses) - - (6) (6)
Net Change in Fund Balances (3,662) (3,662) (5) 3,657
Fund Balances, October 1 3,662 3,662 5 (3,657)
Fund Balances, September 30 $ - $ - $ - $ -
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, 2016
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Investment Income
$ -
$ - $
9
$ 9
Total Revenues
-
-
9
9
EXPENDITURES:
Current:
Physical Environment:
Conch Key MSTU
400
400
-
400
Total Expenditures
400
400
-
400
Excess/Deficiency of Revenues
Over (Under) Expenditures
(400)
(400)
9
409
Net Change in Fund Balances
(400)
(400)
9
409
Fund Balances, October 1
400
400
469
69
Fund Balances, September 30 $ - $ - $ 478 $ 478
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, 2016
REVENUES:
Licenses and Permits
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Long Key -Layton Wastewater
Total Expenditures
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ - $ - $ 4,417 $ 4,417
1,008 1,008
5,425 5,425
7,900 7,900 3,741 4,159
7,900 7,900 3,741 4,159
Excess/Deficiency of Revenues
Over (Under) Expenditures
(7,900)
(7,900) 1,684
9,584
Other Financing Sources (Uses):
Reserve for Contingencies
(1,000)
(1,000) -
1,000
Reserve for Cash Balance
(1,571)
(1,571) -
1,571
Total Other Financing Sources (Uses)
(2,571)
(2,571) -
2,571
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
(10,471) (10,471) 1,684 12,155
10,471 10,471 255,736 245,265
$ - $ - $ 257,420 $ 257,420
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, 2016
REVENUES:
Investment Income
Total Revenues
EXPENDITURES:
Current:
Physical Environment:
Duck Key Wastewater
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ - $ - $ 348 $ 348
348 348
32,500 32,500
32,500 32,500
(32,500) (32,500)
321 32,179
321 32,179
27 32,527
Reserve for Contingencies
(4,479)
(4,479) -
4,479
Reserve for Cash Balance
(9,074)
(9,074) -
9,074
Total Other Financing Sources (Uses)
(13,553)
(13,553) -
13,553
Net Change in Fund Balances
(46,053)
(46,053) 27
46,080
Fund Balances, October 1
46,053
46,053 62,286
16,233
Fund Balances, September 30 $ - $ - $ 62,313 $ 62,313
G-60
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
BUILDING SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Variance with
Final Budget
Original
Final
Positive
Budget
Budget
Actual
(Negative)
REVENUES:
Licenses and Permits
$ 3,495,000
$ 3,495,000
$ 4,761,298
$ 1,266,298
Charges for Services
84,000
84,000
116,931
32,931
Investment Income
9,000
9,000
16,512
7,512
Miscellaneous
30,000
30,000
39,190
9,190
Total Revenues
3,618,000
3,618,000
4,933,931
1,315,931
EXPENDITURES:
Current:
Public Safety
Building Department 3,990,270 3,990,270 3,484,996 505,274
Building Refunds 30,000 101,000 78,285 22,715
Total Expenditures 4,020,270 4,091,270 3,563,281 527,989
Excess/Deficiency of Revenues
Over (Under) Expenditures (402,270) (473,270) 1,370,650 1,843,920
Other Financing Sources (Uses):
Reserve for Contingencies
(99,240)
(28,240) -
28,240
Reserve for Cash Balance
(175,000)
(175,000) -
175,000
Transfer From Other Funds
-
- 571,364
571,364
Transfer to Other Funds
(509,033)
(509,033) (509,033)
-
Total Other Financing Sources (Uses)
(783,273)
(712,273) 62,331
774,604
Net Change in Fund Balances (1,185,543) (1,185,543) 1,432,981 2,618,524
Fund Balances, October 1 1,185,543 1,185,543 2,596,187 1,410,644
Fund Balances, September 30 $ - $ - $ 4,029,168 $ 4,029,168
G-61
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
ROAD AND BRIDGE SPECIAL REVENUE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Revenues:
Taxes
Intergovernmental
Charges for Services
Investment Income
Miscellaneous
Total Revenues
Expenditures:
Current:
Transportation:
Road Department
County Engineer Road and Bridge
Street Lighting
Local Option Gas Tax Projects
80% Gas Tax
Paving Backlog
Sugarloaf Blvd Bridge
Sustainability Roads
Garrison Bight Bridge
Total Transportation
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
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)
$ 2,335,000 $ 2,335,000 $ 2,534,862 $ 199,862
3,500,000
3,500,000
3,645,484
145,484
62,500
62,500
89,017
26,517
35,000
35,000
54,566
19,566
22,700
22,700
31,055
8,355
5,955,200
5,955,200
6,354,984
399,784
4,180,136
4,180,134
3,039,672
1,140,462
415,790
415,790
362,096
53,694
244,132
244,132
227,928
16,204
357,583
357,583
304,753
52,830
550,000
588,000
550,922
37,078
3,216,500
3,216,500
401,349
2,815,151
199,859
407,123
288,567
118,556
-
35,000
-
35,000
-
7,817
165
7,652
9,164,000
9,452,079
5,175,452
4,276,627
9,164,000 9,452,079 5,175,452 4,276,627
(3,208,800) (3,496,879) 1,179,532 4,676,411
(279,579)
(26,498) -
26,498
(1,127,272)
(1,127,272) -
1,127,272
73,983
73,983 73,983
-
(3,520,047)
(3,485,049) (709,983)
2,775,066
(4,852,915)
(4,564,836) (636,000)
3,928,836
(8,061,715) (8,061,715) 543,532 8,605,247
8,061,715 8,061,715 12,438,425 4,376,710
- $ - $ 12,981,957 $ 12,981,957
G-62
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
CLERK'S REVENUE NOTE CAPITAL PROJECTS FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Investment Income
Total Revenues
EXPENDITURES:
Capital Projects
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
$ 2,122 $ 2,122 $ 2,261 $ 139
2,122 2,122 2,261 139
2,122 2,122 - 2,122
Total Expenditures 2,122 2,122 - 2,122
Excess/Deficiency of Revenues
Over (Under) Expenditures - - 2,261 2,261
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
- - 2,261 2,261
- - 102,396 102,396
$ 104,657 $ 104,657
G-63
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
INFRASTRUCTURE REVENUE BONDS SERIES 2007 CAPITAL PROJECTS FUN[
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ 608,505 $ 608,505 $ 2,567 $ (605,938)
Total Revenues 608,505 608,505 2,567 (605,938)
EXPENDITURES:
Capital Projects 590,857 590,857 19,071 571,786
Total Expenditures 590,857 590,857 19,071 571,786
Excess/Deficiency of Revenues
Over (Under) Expenditures 17,648 17,648 (16,504) (34,152)
Other Financing Sources (Uses):
Reserve for Contingencies (17,648) (17,648) - 17,648
Total Other Financing Sources (Uses) (17,648) (17,648) - 17,648
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30 $
- - (16,504) (16,504)
- - 1,227,708 1,227,708
- $ - $ 1,211,204 $ 1,211,204
G-64
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
DUCK KEY WASTEWATER PROJECT CAPITAL PROJECTS FUN[
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Licenses and Permits
Investment Income
Miscellaneous
Total Revenues
EXPENDITURES:
Capital Projects
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Reserve for Contingencies
Reserve for Cash Balance
Transfer From Other Funds
Transfer 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)
$ 31,500
$ 31,500
$ 92,740
$ 61,240
3,500
3,500
27,178
23,678
-
-
7,197
7,197
35,000
35,000
127,115
92,115
502,335 502,335 126,922 375,413
502,335 502,335 126,922 375,413
(467,335) (467,335) 193 467,528
(63,576) (63,576) - 63,576
(105,698) (105,698) - 105,698
- - 574 574
- (2,500,000) (2,500,000) -
(169,274) (2,669,274) (2,499,426) 169,848
(636,609) (3,136,609) (2,499,233) 637,376
636,609 3,136,609 2,597,757 (538,852)
- $ 98,524 $ 98,524
G-65
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
INFRASTRUCTURE REVENUE BONDS SERIES 2014 CAPITAL PROJECTS FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
REVENUES:
Investment Income $ - $ - $ 34,986 $ 34,986
Total Revenues - - 34,986 34,986
EXPENDITURES:
General Government 8,000,000 8,000,000 43,979 7,956,021
Public Safety 4,812,517 4,812,517 25,641 4,786,876
Capital Projects 5,343,750 5,343,750 2,009,024 3,334,726
Total Expenditures 18,156,267 18,156,267 2,078,644 16,077,623
Excess/Deficiency of Revenues
Over (Under) Expenditures
(18,156,267)
(18,156,267) (2,043,658)
16,112,609
Other Financing Sources (Uses):
Reserve for Contingencies
(1,203,941)
(1,203,941) -
1,203,941
Transfer From Other Funds
11,000,000
42,000,000 -
(42,000,000)
Transfer to Other Funds
-
(31,000,000) -
31,000,000
Total Other Financing Sources (Uses)
9,796,059
9,796,059 -
(9,796,059)
Net Change in Fund Balances
Fund Balances, October 1
Fund Balances, September 30
(8,360,208) (8,360,208) (2,043,658) 6,316,550
8,360,208 8,360,208 9,285,560 925,352
- $ 7,241,902 $ 7,241,902
G -66
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
LONG KEY WASTEWATER PROJECT CAPITAL PROJECTS FUNC
FOR THE YEAR ENDED SEPTEMBER 30, 2016
REVENUES:
Investment Income
Total Revenues
EXPENDITURES:
Capital Projects
Total Expenditures
Excess/Deficiency of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Transfer From 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)
$ 1,400,000 $ 1,400,000 $ 394 $ (1,399,606)
1,400,000 1,400,000 394 (1,399,606)
1,400,000
1,400,000
138,357
1,261,643
1,400,000
1,400,000
138,357
1,261,643
- (137,963) (137,963)
- - 1,600,000
1,600,000
- - 1,600,000
1,600,000
- - 1,462,037
1,462,037
$ 1,462,037 $ 1,462,037
G-67
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCES - BUDGET AND ACTUAL
LAND ACQUISITION FUND CAPITAL PROJECTS FUNC
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Original Final
Budget Budget
Variance with
Final Budget
Positive
Actual (Negative)
REVENUES:
Investment Income -
Total Revenues - - - -
EXPENDITURES:
Capital Projects
-
-
-
Total Expenditures
-
-
-
Excess/Deficiency of Revenues
Over (Under) Expenditures
-
-
-
Other Financing Sources (Uses):
Transfer From Other Funds
6,000,000
6,000,000
6,000,000 _
Total Other Financing Sources (Uses)
6,000,000
6,000,000
6,000,000
Net Change in Fund Balances
6,000,000
6,000,000
6,000,000
Fund Balances, October 1
-
-
-
Fund Balances, September 30
$ 6,000,000
$ 6,000,000
$ 6,000,000 $
.:
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING STATEMENT OF NET POSITION
INTERNAL SERVICE FUNDS
SEPTEMBER 30, 2016
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
Due to Constitutional Officers
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
Investment in Capital Assets
Unrestricted
Total Net Position
Workers' Group Risk
Compensation Insurance Management
Fund Fund Fund
$ 895,330 $
2,806,731 $
558,272
3,107,949
7,972,363
3,420,415
-
15,122
-
-
77,616
-
-
279,461
-
9,300
25,483
9,943
4,012,579
11,176,776
3,988,630
868 - 26,036
868 - 26, 036
4,013,447 11,176,776 4,014,666
51,145 63,345 45,639
2,043
1,641,920
15,705
-
8,575
-
425,109
1,028,472
246,780
-
246
-
6,399
-
-
2,147
5,025
3,656
435,698
2,684,238
266,141
8,587
20,102
14,628
139,387
93,274
235,806
155,135
174,965
137,038
303,109
288,341
387,472
738,807 2,972,579 653,613
2,845 3,494 2,554
868 - 26,036
3,322,072 8,264,048 3,378,102
$ 3,322,940 $ 8,264,048 $ 3,404,138
H-1
Fleet
Management
Fund Total
$ 379,774 $
4,640,107
2,825,322
17, 326, 049
40
15,162
17,119
94,735
69
279,530
5,042
49,768
3,227,366
22,405,351
54,000 54,000
811,181 838,085
865,181 892,085
4,092,547 23,297,436
256,765 416,894
33,044
1,692,712
-
8,575
-
1,700,361
417,183
417,183
40
286
-
6,399
16,112
26,940
466,379
3,852,456
64,452
107,769
497,812
966,279
722,552
1,189, 690
1,284,816
2,263,738
1,751,195 6,116,194
14,196 23,089
865,181 892,085
1,718,740 16, 682, 962
$ 2,583,921 $ 17,575,047
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, 2016
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
(Loss) on Disposition of Assets
Total Non -Operating Revenues (Expenses)
Income (Loss) Before Transfers
Transfers to Other Funds
Change in Net Position
Net Position -October 1
Workers' Group Risk
Compensation Insurance Management
Fund Fund Fund
$ 1,867,238 $ 16,054,053 $ 1,452,269
6,814 175,040 20,245
1,874,052 16,229,093 1,472,514
221,482
285,422
207,753
497,028
1,341,822
1,814,598
-
-
4,664
1,991,437
16,899,485
226,680
2,709,947
18,526,729
2,253,695
(835,895) (2,297,636) (781,181)
14,812 35,086 17,365
944,607 157,355 37,616
959,419 192,441 54,981
123,524 (2,105,195) (726,200)
(61,030) (117,760) (32,970)
62,494 (2,222,955) (759,170)
3,260,446 10,487,003 4,163,308
Net Position -September 30 $ 3,322,940 $ 8,264,048 $ 3,404,138
H-3
Fleet
Management
Fund Total
$ 2,687,461 $ 22,061,021
1,563 203,662
2,689,024 22,264,683
1,167,167
1,881,824
941,830
4,595,278
60,681
65,345
-
19,117,602
2,169,678
25,660,049
519,346 (3,395,366)
11,344 78,607
- 1,139,578
(57,236) (57,236)
(45,892) 1,160,949
473,454 (2,234,417)
(367,760) (579,520)
105,694 (2,813,937)
2,478,227 20,388,984
$ 2,583,921 $ 17,575,047
:f!
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
Operating Activities:
Cash Received for Services
Cash Received 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 by (Used in) Noncapital
Financing Activities
Capital and Related Financing Activities:
Acquisition of Capital Assets
Net Cash Provided by (Used in) Capital and
Related Financing Activities
Investing Activities:
Investment Income
Proceeds from Sales and Maturities of Investments
Purchase of Investment Securities
Net Cash Provided by (Used in) Investing Activities
Net Increase(Decrease) in Cash and
Cash Equivalents
Cash and Cash Equivalents:
October 1
Workers' Group Risk
Compensation Insurance Management
Fund Fund Fund
$ 1,867,238
$ 16,050,376 $
1,452,640
12,378
-
-
944,607
157,355
37,616
(506,893)
(1,533,812)
(1,817,958)
(228,420)
(287,049)
(215,536)
-
(28,589)
-
(2,484,282)
(16,798,211)
(169,245)
4,316
168,634
17,497
(391,056) (2,271,296) (694,986)
(61,030) (117,760) (32,970)
(61,030) (117,760) (32,970)
- (9,568)
- (9,568)
14,812 35,086 17,365
988,354 5,839,775 2,650,821
(2,122,186) (6,417,149) (2,795,995)
(1,119,020) (542,288) (127,809)
(1,571,106) (2,931,344) (865,333)
2,466,436 5,738,075 1,423,605
September 30 $ 895,330 $ 2,806,731 $ 558,272
H-5
Fleet
Management
Fund Total
$ 2,687,434
$ 22,057,688
425,937
438,315
-
1,139,578
(944,831)
(4,803,494)
(1,157,485)
(1,888,490)
-
(28,589)
-
(19,451,738)
-
190,447
1,011,055 (2,346,283)
(367,760) (579,520)
(367,760) (579,520)
(9,226) (18,794)
(9,226) (18,794)
11,344 78,607
1,302,901 10,781,851
(2,048,334) (13,383,664)
(734,089) (2,523,206)
(100,020) (5,467,803)
479,794 10,107,910
$ 379,774 $ 4,640,107
(Continued)
W.
MONROE COUNTY, FLORIDA
COMBINING STATEMENT OF CASH FLOWS (CONTINUED)
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2016
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 Interest Receivable
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:
(Loss) on Disposition of Assets
Change in Fair Value of Investments
Cash Reconciliation:
Unrestricted
Workers' Group Risk
Compensation Insurance Management
Fund Fund Fund
$ (835,895) $ (2,297,636) $ (781,181)
- - 4,664
944,607 157,355 37,616
-
(3,677)
371
-
(5,409)
-
5,979
(23,160)
-
(2,498)
(6,406)
(2,748)
(9,865)
(191,990)
(3,360)
(12,760)
(10,853)
(12,097)
(492,845)
101,274
57,435
-
(30)
-
-
10
-
6,399
-
-
(7,030)
(2,729)
(11,409)
6,387
4,274
10,806
53,990
66,641
48,282
(35,241)
(46,349)
(31,130)
(12,284)
(12,611)
(12,235)
444,839
26,340
86,195
$ (391,056) $ (2,271,296) $ (694,986)
$ 12,922 $ 39,075 $ 17,025
$ 895,330 $ 2,806,731 $ 558,272
H-7
Fleet
Management
Fund Total
$ 519,346 $ (3,395,366)
60,681 65,345
- 1,139,578
(27)
(3,333)
8,998
3,589
(69)
(17,250)
(2,271)
(13,923)
(2,293)
(207,508)
(54,844)
(90,554)
-
(334,136)
417,008
416,978
-
10
-
6,399
9,582
(11,586)
22,812
44,279
270,348
439,261
(186,171)
(298,891)
(52,045)
(89,175)
491,709
1,049,083
$ 1,011,055 $ (2,346,283)
$ (57,236) $ (57,236)
$ 12,472 $ 81,494
$ 379,774 $ 4,640,107
;�3
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMPONENT UNIT
COMPREHENSIVE PLAN LAND AUTHORITY
STATEMENT OF NET POSITION
SEPTEMBER 30, 2016
ASSETS
Cash and cash equivalents
$ 8,972,285
Deposits held in trust
41,002
Due from BOCC
590,268
Due from State of Florida
30,491
Mortgages receivable
9,151,579
Equipment, net of accumulated depreciation
1,486
Capital assets -land
27,694,394
Intangible assets
12,505,906
Total assets
58,987,411
Deferred Outflows of Resources
73,576
LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND NET POSITION
Current liabilities:
Accounts payable 316,045
Accrued wages 13,957
Compensated absences 13,221
Total current liabilities 343,223
Noncurrent liabilities:
Compensated absences 48,237
Net Pension Liability 197,800
Total noncurrent liabilities 246,037
Total liabilities 589,260
Deferred Inflows of Resources 6,604
Net position:
Net investment in capital assets 40,201,786
Restricted 1,935,202
Unrestricted 16,328,135
Total net position $ 58,465,123
1-1
MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS
COMPONENT UNIT
COMPREHENSIVE PLAN LAND AUTHORITY
STATEMENT OF ACTIVITIES
YEAR ENDED SEPTEMBER 30, 2016
General revenues
Intergovernmental $ 5,251,004
Investment Income 82,572
Land contributions 51
Total general revenues 5,333,627
Program expenses
Land contribution conveyances 45,681
General government 360,700
Total program expenses 406,381
Increase in net position 4,927,246
Net position, beginning of year, previously reported 53,537,877
Net position, end of year $ 58,465,123
1-2
Cherry rt
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, 2016, and the related notes to the
financial statements, which collectively comprise the Board's basic financial statements, and have issued our
report thereon dated March 31, 2017 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 a deficiency described in Appendix A - Financial Statement Finding as item 2016-001 that we
consider to be a significant deficiency.
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
Response to the Finding
The Board's response to the finding identified in our audit is described in Appendix A — Financial Statement
Finding. The Board's response was not subjected to the auditing procedures applied in the audit of the financial
statements and accordingly, we express no opinion on it.
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
March 31, 2017
J-2
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
APPENDIX A - FINANCIAL STATEMENT FINDING
Finding 2016-001
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.
Condition and Context: Although we noted improvement over the prior year, our testing of cash receipts,
journal entries and procurement cards revealed that at times cash receipts and journal entries were posted late
and at times the procurement card invoices were paid after the due date. These late postings and late payments
were due to workload issues in Finance and the fact that the documentation to support the transaction was not
provided to Finance in a timely manner.
Effect: Late posting of cash receipts and 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.
Cause: Workload issues in Finance for part of the year and 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 cash receipts, journal entries
and payment of procurement card invoices. Additionally we recommend cross -training of Finance staff to avoid
work backlog due to employee absences.
Management Response: We agree with this recommendation and will work with the Board of County
Commissioners to establish procedures to ensure documentation is provided to the Finance Department on a
timely basis. In addition, the Finance Department will ensure staff is sufficiently cross -trained to minimize work
back -log and delays in posting transactions to the accounting records.
J-3
.,;:.
Cherry Bekae
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, 2016, and have issued our report thereon dated March 31,
2017.
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 March 31, 2017, 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. There were no audit recommendations made in the preceding audit report.
Official Title and Legal Authority
Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal authority for
the primary government and each component unit of the reporting entity be disclosed in 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. See Appendix A for our recommendation. We did not audit
the Board's response to this matter, which is provided in Appendix A, and, accordingly, we express no opinion
on it.
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-4
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
March 31, 2017
J-5
MONROE COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
MANAGEMENT LETTER COMMENTS (CURRENT YEAR) - APPENDIX A
2016-001 Continued Training
Observation: The County has made considerable progress in training the Finance staff in the current fiscal
year. However we noted some delay in processes due to employee absences and heavy workload.
Recommendation: We recommend that continued training be provided in order to strengthen the skills of
the Finance staff as well as cross training to assure work flow continues in an employee's absence.
Management Response: We agree with this recommendation and will continue to provide training to
Finance Department staff to strengthen skills and cross -training.
J-6
611111 ..
Cherry B rtt
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, for the year ended
September 30, 2016. 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, 2016.
Orlando, Florida
March 31, 2017
J-7