Fiscal Year 2016
MONROE COUNTY, FLORIDA
PROPERTY APPRAISER
FINANCIALSTATEMENTS
As of and for the Year Ended September 30, 2016
And Report of Independent Auditor
MONROE COUNTY, FLORIDA
PROPERTY APPRAISER
TABLEOFCONTENTS
REPORT OF INDEPENDENT AUDITOR
1-2
FINANCIAL STATEMENTS
Balance Sheet – General Fund 3
Statement of Revenues, Expenditures, and Changes in Fund Balances – General Fund 4
Notes to Financial Statements 5-10
REQUIRED SUPPLEMENTARY INFORMATION
Schedule of Revenues and Expenditures - Budget and Actual – General Fund 11
SUPPLEMENTARY 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 12-13
Independent Auditor’s Management Letter 14-15
Report of Independent Accountant on Compliance with Local Government Investment Policies 16
Report of Independent Auditor
To the Honorable Scott Russell,
Property Appraiser of Monroe County, Florida
Report on Financial Statements
We have audited the accompanying financial statements of the major fund of the Monroe County, Florida
Property Appraiser (the "Property Appraiser"), as of and for the year ended September 30, 2016, and the related
notes to financial statements as listed in the table of contents.
DĂŶĂŐĞŵĞŶƚ͛ƐResponsibilityfortheFinancialStatements
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 the
financial statements that are free from material misstatement, whether due to fraud or error.
ƵĚŝƚŽƌ͛ƐResponsibility
Our responsibility is to express an opinion 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 Property Appraiser’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 Property Appraiser’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
opinion.
Opinion
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial
position of the major fund of the Property Appraiser as of September 30, 2016, and the changes in financial
position thereof for the year then ended, in conformity with accounting principles generally accepted in the
United States of America.
EmphasisofMatter
As discussed in Note 1 to the financial statements, the financial statements referred to above were prepared
solely for the purpose of complying with the Rules of the Auditor General of the state of Florida. In conformity
with the Rules, the accompanying financial statements are intended to present the financial position and
changes in financial position of the general fund of Monroe County, Florida that is attributable to the Property
Appraiser. They do not purport to, and do not, present fairly the financial position of Monroe County, Florida as
of September 30, 2016, and the changes in its financial position for the fiscal year then ended in conformity with
accounting principles generally accepted in the United States of America. Our opinion is not modified with
respect to this matter.
OtherMatters
ZĞƋƵŝƌĞĚ^ƵƉƉůĞŵĞŶƚĂƌLJ/ŶĨŽƌŵĂƚŝŽŶ
Accounting principles generally accepted in the United States of America require that the budgetary comparison
schedule on page 11 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.
Other Reporting Required by GovernmentAuditingStandards
In accordance with Government Auditing Standards, we have also issued our report dated February 22, 2017 on
our consideration of the Property Appraiser'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 Property Appraiser’s internal control over financial reporting and
compliance.
Orlando, Florida
February 22, 2017
2
FINANCIAL STATEMENTS
MONROE COUNTY, FLORIDA
PROPERTY APPRAISER
BALANCESHEETʹ
GENERALFUND
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ASSETS
Cash and cash equivalents$ 1,164,335
Total Assets
$ 1,164,335
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable$ 44,767
Accrued wages and benefits payable43,591
Due to Board of County Commissioners972,243
Due to other governmental units103,734
Total Liabilities
1,164,335
Fund Balance-
Total Liabilities and Fund Balance
$ 1,164,335
See notes to financial statements. 3
MONROE COUNTY, FLORIDA
PROPERTY APPRAISER
STATEMENTOFREVENUES,EXPENDITURES,ANDCHANGESINFUNDBALANCESʹ
GENERALFUND
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Revenues:
Intergovernmental:
Board of County Commissioners3,846,899$
Charges for services:
Other taxing districts410,447
Investment income3,696
Miscellaneous20,465
Total Revenues4,281,507
Expenditures:
Current:
Personnel services2,387,005
Operating expenditures492,150
Capital outlay326,375
Total Expenditures3,205,530
Excess of revenues over expenditures1,075,977
Other Financing Sources (Uses):
Transfers to Board of County Commissioners(972,243)
Transfers to other governmental units(103,734)
Total Other Financing Sources (Uses)(1,075,977)
Net change in fund balance-
Fund balance, beginning of year-
Fund balance, end of year$ -
See notes to financial statements. 4
MONROE COUNTY, FLORIDA
PROPERTY APPRAISER
NOTESTOFINANCIALSTATEMENTS
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EŽƚĞϭͶ^ƵŵŵĂƌLJŽĨƐŝŐŶŝĨŝĐĂŶƚĂĐĐŽƵŶƚŝŶŐƉŽůŝĐŝĞƐ
Reporting Entity – The Monroe County, Florida Property Appraiser (the “Property Appraiser”) is a separately
elected county official established pursuant to the Constitution of the State of Florida. These financial
statements present only the Property Appraiser’s Office and do not purport to reflect the financial position or the
results of operations of Monroe County, Florida (the “County”) taken as a whole. The financial statements of the
Property Appraiser have been prepared in accordance with the accounting principles and reporting guidelines
established by the Governmental Accounting Standards Board (“GASB”).
Entity status for financial reporting purposes is governed by Statements No. 14, as amended. Although the
Property Appraiser’s Office is operationally autonomous, it does not hold sufficient corporate powers of its own
to be considered a legally separate entity for financial reporting purposes. Therefore, under GASB guidelines,
the Property Appraiser is reported as a part of the primary government of Monroe County, Florida.
Measurement Focus, Basis of Accounting, and Financial Statement Presentation – The Property Appraiser's
financial statements are prepared for the purpose of complying with Section 218.39(2), Florida Statutes, and
Chapter 10.550, Rules of the Auditor General, which require the Property Appraiser to only present fund
financial statements.
The General Fund is used to account for all revenues and expenditures applicable to the general operations of
the Property Appraiser that are not legally required or by accounting principles generally accepted in the United
States of America to be accounted for in another fund. The General Fund is presented as a major governmental
fund and uses the current financial resources, measurement focus, and the modified accrual basis of
accounting. Revenues are recognized when measurable and available. Revenues are considered to be
available when they are collectible within the current period or soon enough thereafter to pay liabilities of the
current period. For this purpose, the Property Appraiser considers revenues to be available if they are collected
within 60 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is
incurred, as under accrual accounting. However, expenditures related to compensated absences and claims
and judgments are recorded only when payment is due.
The extent to which General Fund revenues exceed expenditures is reflected as transfers out and as liabilities
to the Monroe County Board of County Commissioners (the “Board”) and other governmental agencies in the
same proportion as fees paid by each governmental unit to total fees earned by the Property Appraiser.
Budgetary Requirements – General Fund expenditures are controlled by budget appropriations in accordance
with the requirements set forth in the Florida Statutes. The budget is prepared on a basis consistent with
accounting principles generally accepted in the United States of America.
Cash and Cash Equivalents– The Property Appraiser’s cash and cash equivalents consist of cash on hand and
demand deposits.
Capital Assets – Tangible personal property used in the Property Appraiser's operations are recorded as
expenditures in the General Fund at the time assets are received and a liability is incurred. Purchased assets
are capitalized at historical cost in the government-wide financial statements of the County. In addition, the
Board provides office space used by the Property Appraiser at no charge.
5
MONROE COUNTY, FLORIDA
PROPERTY APPRAISER
NOTESTOFINANCIALSTATEMENTS
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EŽƚĞϭͶ^ƵŵŵĂƌLJŽĨƐŝŐŶŝĨŝĐĂŶƚaccounting policies (continued)
Compensated Absences – The Property Appraiser permits employees to accumulate earned but unused
vacation and sick pay benefits. The Property Appraiser is not legally required to and does not accumulate
expendable available financial resources to liquidate this obligation. The obligation for compensated absences is
accrued in the government-wide financial statements of the County. A summary of activity for the Property
Appraiser’s compensated absences obligation is as follows:
Balance, October 1, 2015 $134,240
Additions225,243
Deletions (220,240)
Balance, September 30, 2016 $139,243
Use of Estimates– The preparation of financial statements requires management to make use of estimates that
affect reported amounts. Actual results could differ from estimates.
EŽƚĞϮͶĞƉŽƐŝƚƐĂŶĚŝŶǀĞƐƚŵĞŶƚƐ
The Property Appraiser follows Florida Statutes for its investment policy, which authorizes investments in
certificates of deposit, savings accounts, repurchase agreements, the Local Government Surplus Funds Trust
Fund administered by the Florida State Board of Administration, and obligations of the U.S. Government and
governmental agencies unconditionally guaranteed by the U.S. Government.
At September 30, 2016, cash and cash equivalents included demand deposits with a carrying amount of
$1,164,335 and a bank balance of $1,185,526.
EŽƚĞϯͶZĞƚŝƌĞŵĞŶƚƐLJƐƚĞŵ
Plan Description – The Property Appraisers’ employees participate in the Florida Retirement System (“FRS”). As
provided by Chapters 121 and 112, Florida Statutes, the FRS provides two cost sharing, multiple employer
defined benefit plans administered by the Florida Department of Management Services, Division of Retirement,
including the FRS Pension Plan (“Pension Plan”) and the Retiree Health Insurance Subsidy (“HIS Plan”). Under
Section 121.4501, Florida Statutes, the FRS also provides a defined contribution plan (“Investment Plan”)
alternative to the FRS Pension Plan, which is administered by the State Board of Administration.
As a general rule, membership in the FRS is compulsory for all employees working in a regularly established
position for a state agency, county government, district school board, state university, community college, or a
participating city or special district within the state of Florida. The FRS provides retirement and disability
benefits, annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. Benefits are
established by Chapter 121, Florida Statutes, and Chapter 60S, Florida Administrative Code. Amendments to
the law can be made only by an act of the Florida Legislature.
6
MONROE COUNTY, FLORIDA
PROPERTY APPRAISER
NOTESTOFINANCIALSTATEMENTS
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EŽƚĞϯͶZĞƚŝƌĞŵĞŶƚƐLJƐƚĞŵ;ĐŽŶƚŝŶƵĞĚͿ
Benefits under the Pension Plan are computed on the basis of age, average final compensation, and service
credit. For Pension Plan members enrolled before July 1, 2011, Regular class members who retire at or after
age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a
retirement benefit payable monthly for life, equal to 1.6% of their final average compensation based on the five
highest years of salary for each year of credited service. Vested members with less than 30 years of service
may retire before age 62 and receive reduced retirement benefits. Senior Management Service class members
who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age
are entitled to a retirement benefit payable monthly for life, equal to 2.0% of their final average compensation
based on the five highest years of salary for each year of credited service. Elected Officers’ class members who
retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are
entitled to a retirement benefit payable monthly for life, equal to 3.0% of their final average compensation based
on the five highest years of salary for each year of credited service. Substantial changes were made to the
Pension Plan during fiscal year 2011 affecting members enrolled on or after July 1, 2011 by extending the
vesting requirement to eight years of credited service and increasing normal retirement to age 65 with at least
eight years of credited service or 33 years of service regardless of age. Also, the final average compensation of
these members will be based on the eight highest years of salary.
Funding Policy – All enrolled members of the FRS Pension Plan are required to contribute 3.0% of their salary
to the FRS. In addition to member contributions, governmental employers are required to make contributions to
the FRS based on state-wide contribution rates. The employer contribution rates by job class for the periods
from October 1, 2015 through June 30, 2016 and July 1, 2016 through September 30, 2016, respectively, were
as follows: regular - 7.26% and 7.52%; county elected officers - 42.27% and 42.47%; senior management -
21.43% and 21.77%; and DROP participants - 12.88% and 12.99%. During the fiscal year ended September 30,
2016, the Property Appraiser contributed to the plan an amount equal to 9.68% of covered payroll.
The HIS Plan provides a monthly benefit to assist retirees in paying their health insurance costs and is
administered by the Florida Department of Management Services, Division of Retirement. Eligible retirees and
beneficiaries receive a monthly health insurance subsidy payment of $5 for each year of creditable service, with
a minimum payment of $30 and a maximum payment of $150 per month. The HIS Plan is funded by required
contributions from FRS participating employees as set forth by the Florida Legislature, based on a percentage of
gross compensation for all active FRS members.
In addition to the above benefits, the FRS administers the Deferred Retirement Option Program (“DROP”). This
program allows eligible employees 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.
7
MONROE COUNTY, FLORIDA
PROPERTY APPRAISER
NOTESTOFINANCIALSTATEMENTS
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EŽƚĞϯͶZĞƚŝƌĞŵĞŶƚƐLJƐƚĞŵ;ĐŽŶƚŝŶƵĞĚͿ
For those members who elect participation in the Investment Plan, rather than the Pension Plan, vesting occurs
at one year of service. These participants receive a contribution for self-direction in an investment product with a
third party administrator selected by the State Board of Administration. Employer and employee contributions,
including amounts contributed to individual member accounts, are defined by law, but the ultimate benefit
depends in part on the performance of investment funds. Benefit terms, including contribution requirements, for
the Investment Plan are established and may be amended by the Florida Legislature. The Investment Plan is
funded with the same employer and employee contribution rates that are based on salary and membership
class (Regular Class, Elected County Officers, etc.), as the FRS defined benefit plan. Contributions are directed
to individual member accounts, and the individual members allocate contributions and account balances among
various approved investment choices. Costs of administering the plan, including the FRS Financial Guidance
Program, are funded through an employer contribution of 0.04% of payroll and by forfeited benefits of plan
members.
The Property Appraiser recognizes pension expenditures in an amount equal to amounts paid to the Pension
Plan, the HIS Plan, and the defined contribution plan, amounting to $135,725, $31,329, and $34,562,
respectively, for the fiscal year ended September 30, 2016. The Property Appraiser’s payments for the Pension
Plan and the HIS Plan after June 30, 2016, the measurement date used to determine the net pension liability
associated with the Pension Plan and HIS Plan, amounted to $44,491 and $8,805, respectively. The Property
Appraiser is not legally required to and does not accumulate expendable available resources to liquidate the
retirement obligation related to its employees. Accordingly, the net pension liability and associated deferred
outflows and deferred inflows are presented on the government-wide financial statements of the County,
following requirements of GASB Statement No. 68, Accounting and Financial Reporting for Pensions – an
amendment of GASB Statement No. 27, and GASB Statement No. 71, Pension Transition for Contributions
Made Subsequent to the Measurement Date – an amendment of GASB Statement No. 68.
The state of Florida annually issues a publicly available financial report that includes financial statements and
required supplementary information for the FRS. The latest available report may be obtained by writing to the
state of Florida Division of Retirement, Department of Management Services, P.O. Box 9000, Tallahassee,
Florida 32315-9000. That report may be viewed on the Florida Department of Management Services
websitelocated atwww.dms.myflorida.com/workforce_operations/retirement/publications.
8
MONROE COUNTY, FLORIDA
PROPERTY APPRAISER
NOTESTOFINANCIALSTATEMENTS
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EŽƚĞϰͶKƚŚĞƌƉŽƐƚĞŵƉůŽLJŵĞnt benefit (OPEB) plan
The Monroe County Board of County Commissioners (“BOCC”) administers a single-employer defined benefit
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, prescription drug benefits, and
life insurance to both active and eligible retired employees. The Plan does not issue a publicly available financial
report.
The BOCC may amend the plan design, with changes to the benefits, premiums, and/or levels of participant
contribution at any time. In an open session, on at least an annual basis and prior to the annual enrollment
process, the BOCC approves the rates for the coming calendar year for the retiree and County contributions.
Eligibility for post employment participation in the Plan is limited to full-time employees of the County, and the
Constitutional Officers. Employees who retire as an active participant in the Plan and were hired on or after
October 1, 2001 may continue to participate in the Plan by paying the monthly premium established annually by
the BOCC. Employees who retire as an active participant in the Plan, were hired before October 1, 2001, have
at least ten years of full-time service with the County and meet the retirement criteria of the FRS may maintain
their group health insurance benefits with the County following their retirement, provided they contribute a
premium of $5 per month for each year of creditable service with the FRS at the time of retirement with the
County and will pay at a minimum $50 per month up to the maximum of $150 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 a premium of $5 per month for each year of creditable service
with the FRS at the time of retirement with the County and will pay at a minimum $50 per month up to the
maximum of $150 per month. Surviving spouses and dependents of participating retirees may continue in the
Plan if eligibility criteria specific to those classes are met.
The BOCC engages an actuarial firm on a biennial basis to determine the County’s actuarially determined
annual required contribution and unfunded obligation. The Property Appraiser has no responsibility to the Plan
other than to make the periodic payments determined by the BOCC. Further information about the Plan is
available in the County’s Comprehensive Annual Financial Report which is published on the Clerk‘s website at
www.clerk-of-the-court.com.
EŽƚĞϱͶZŝƐŬŵĂŶĂŐĞŵĞŶƚ
The Property Appraiser is exposed to various risks of loss related to tort; theft of, damage to, and destruction of
assets; errors and omissions; injuries to employees; and natural disasters. The Property Appraiser participates
in the coverage provided by the Board for Workers’ Compensation, Group Insurance, and Risk Management
internal service funds. Under these programs, Workers’ Compensation provides $500,000 coverage per claim
for regular employees. Workers’ Compensation claims in excess of the self-insured coverage are covered by an
excess insurance policy. Risk Management has a $5,000,000 excess insurance policy for general liability claims
with a $200,000 self insured retention, and building property damage is covered for the actual value of the
buildings with a deductible of $50,000. Deductibles for windstorm and flood vary by location. The County
purchases commercial insurance for claims in excess of coverage provided by the funds and for all other risks of
loss. Settled claims have not exceeded this commercial coverage in any of the past three years. The Property
Appraiser makes payments to the Workers’ Compensation, Group Insurance, and Risk Management Funds
based on estimates of the amounts needed to pay prior and current year claims.
9
MONROE COUNTY, FLORIDA
PROPERTY APPRAISER
NOTESTOFINANCIALSTATEMENTS
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EŽƚĞϲͶŽŵŵŝƚŵĞŶƚƐ
Operating Leases – The Property Appraiser leases office equipment under various operating lease agreements.
Total lease expenditures amounted to $44,558 during the year ended September 30, 2016.
The following is a schedule by years of minimum future obligations under noncancelable operating leases as of
September 30:
Years Ending September 30,
Amount
2017$ 35,883
201832,641
201920,344
Total$ 88,868
Software Agreement – The Property Appraiser entered into an agreement on March 30, 2015 to acquire a
Computer Assisted Mass Appraisal “CAMA” System based on Florida laws and requirements. The total cost is
$668,990, and the implementation schedule shall consist of a period not to exceed 15 months, commencing
from the date of the contract execution. The annual software maintenance cost is $65,235. For the year ended
September 30, 2016, the Property Appraiser expended $278,982 towards this project, and a cumulative total
of$416,557through September 30, 2016.
The following is a schedule of installment payments under this agreement as of September 30, 2016:
Years Ending September 30,
Amount
2017$ 335,643
201865,235
201965,235
Total$ 466,113
EŽƚĞϳͶ>ŝƚŝŐĂƚŝŽŶ
The Property Appraiser is a party from time to time in various lawsuits and other claims incidental to the ordinary
course of its operation, some of which are covered by the Board’s self-insurance program. While the results of
litigation cannot be predicted with certainty, management believes the final outcome of such litigation will not
have a material adverse effect on the Property Appraiser’s financial position.
10
REQUIRED SUPPLEMENTARY INFORMATION
MONROE COUNTY, FLORIDA
PROPERTY APPRAISER
SCHEDULEOFREVENUESANDEXPENDITURESBUDGETANDACTUALʹ
GENERALFUND
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General Fund
Variance with
Final Budget
OriginalFinalPositive
BudgetBudgetActual(Negative)
Revenues:
Intergovernmental:
Board of County Commissioners$ 3,526,659$ 3,846,899$ 3,846,899$ -
Other taxing districts730,687410,447
410,447 -
Investment income- 3,6963,696
-
Miscellaneous--20,465
20,465
Total Revenues 4,257,3464,257,3464,281,50724,161
Expenditures:
Current:
Personnel services 3,058,5993,058,5992,387,005 671,594
Operating expenditures793,747793,747 492,150 301,597
Capital outlay405,000405,000 326,37578,625
Total Expenditures 4,257,3464,257,3463,205,5301,051,816
Excess of revenues over expenditures--(1,075,977)
1,075,977
Other Financing Sources (Uses):
Transfers to Board of County Commissioners- (972,243)-(972,243)
Transfers to other governmental units- (103,734)-(103,734)
Total Other Financing Sources (Uses)- (1,075,977)- (1,075,977)
Excess of revenues over expenditures
and other financing uses-
- - -
Fund balance, beginning of year-
- - -
Fund balance, end of year$ -$ -$ -$ -
11
SUPPLEMENTARY 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 GovernmentAuditingStandards
To the Honorable Scott Russell,
Property Appraiser 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 financial audits contained in Government Auditing Standards issued by the
Comptroller General of the United States, the financial statements of the major fund of the Monroe County,
Florida Property Appraiser (the "Property Appraiser") as of and for the year ended September 30, 2016, and the
related notes to financial statements, and have issued our report thereon dated February 22, 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 Property Appraiser's
internalcontrol over financial reportinginternal control to determine the audit procedures that are
appropriate in the circumstances for the purpose of expressing our opinion on the financial statements, but
not for the purpose of expressing an opinion on the effectiveness of the Property Appraiser's internal control.
Accordingly, we do not express an opinion on the effectiveness of the Property Appraiser's internal control.
Adeficiency in internal control exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in
internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial
statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a
deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet
important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section
and was not designed to identify all deficiencies in internal control that might be material weaknesses or
significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal
control that we consider to be material weaknesses. However, material weaknesses may exist that have not
been identified.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Property Appraiser’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.
12
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and
the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on
compliance. This report is an integral part of an audit performed in accordance with Government Auditing
Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not
suitable for any other purpose.
Orlando, Florida
February 22, 2017
13
/ŶĚĞƉĞŶĚĞŶƚƵĚŝƚŽƌ͛ƐDĂŶĂŐĞŵĞŶƚ>ĞƚƚĞƌ
To the Honorable Scott Russell,
Property Appraiser of Monroe County, Florida
Report on the Financial Statements
We have audited the financial statements of the Monroe County, Florida Property Appraiser (the "Property
Appraiser"), as of and for the year ended September 30, 2016, and have issued our report thereon dated
February 22, 2017.
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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 Financial Statements Performed in Accordance with
Government Auditing Standards, and 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 February 22, 2017, should be considered in conjunction
with this management letter.
Prior Audit Findings
Section 10.554(1)(i)1., 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 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. The Property Appraiser is a separately elected county
official established pursuant to the Constitution of the State of Florida. There are no component units related to
the Property Appraiser.
Other Matters
Section 10.554(1)(i)2., Rules of the Auditor General, requires that we address in the management letter any
recommendations to improve financial management. In connection with our audit, we did not have any such
recommendations.
Section 10.554(1)(i)3., Rules of the Auditor General, requires that we address noncompliance with provisions of
contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect
on the financial statements that is less than material but which warrants the attention of those charged with
governance. In connection with our audit, we did not have any such findings.
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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
February 22, 2017
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Report of Independent Accountant on Compliance
with Local Government Investment Policies
To the Honorable Scott Russell,
Property Appraiser of Monroe County, Florida
Report on Compliance
We have examined the Monroe County, Florida Property Appraiser’s (the “Property Appraiser”) 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 Property Appraiser’s compliance with those
requirements. Our responsibility is to express an opinion on the Property Appraiser’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
Property Appraiser’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 Property Appraiser’s compliance
with specified requirements.
Opinion
In our opinion, the Property Appraiser complied, in all material respects, with the aforementioned requirements
for the year ended September 30, 2016.
Orlando, Florida
February 22, 2017
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