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Fiscal Year 2017MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS FINANCIAL STATEMENTS As of and for the Year Ended September 30, 2017 And Report of Independent Auditor st Cherry rt " This page is intentionally left blank. MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Financial Statements For The Fiscal Year Ended September 30, 2017 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 Post Employment Benefits Other Than Pension Schedule of Board's Funding Progress Schedule of Board's Employer Contributions Notes to the Required Schedules Combininq 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 Infrastructure Revenue Bonds Series 2014 Capital Projects 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 E-8 E-9 E-9 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, 2017 TABLE OF CONTENTS (continued) Combininq 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) IA MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Financial Statements For The Fiscal Year Ended September 30, 2017 TABLE OF CONTENTS (continued) Combininq 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 Conch Key Municipal Service Taxing Unit G-57 Long Key -Layton Municipal Service Taxing Unit G-58 Duck Key Municipal Service Taxing Unit G-59 Building Fund G-60 Road and Bridge Fund G-61 Clerk's Revenue Note Capital Projects Fund G-62 Infrastructure Revenue Bonds Series 2007 Capital Projects Fund G-63 Big Coppitt Wastewater Capital Project Fund G-64 Duck Key Wastewater Project Capital Projects Fund G-65 Long Key Wastewater Project Capital Projects Fund G-66 Land Acquisition Fund Capital Projects Fund G-67 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-3 Report of Independent Accountant on Compliance with Local Government Investment J-7 Policies A-3 01111131i e . ,; . Octal 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 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, 2017, 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 and the aggregate remaining fund information of the Board as of September 30, 2017, 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 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 well as the information presented for the Board's component unit, 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 29, 2018 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 29, 2018 B-2 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS BALANCE SHEET GOVERNMENTAL FUNDS SEPTEMBER 30, 2017 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 $ 6,786,800 $ 2,701,785 $ 3,437,848 28, 325, 912 14,590,656 116,262 13,307 972,935 11 173,028 - 2,388,417 585,628 342,710 3,525,678 7,062,062 607,873 - - - 665,021 - - (665,021) 81,489 74,313 4,819 2,357 - - $ 43,030,583 $ 19,290,272 $ 9,473,035 $ 2,018,183 $ 125,561 $ 5,008,123 - - 59,832 878,076 70,606 2,567,277 4,888,417 - 2,600,000 363,448 13,224 76,152 29,301 19,120 - 2,251 - 90 5,410 - - 8,185,086 228,511 10,311,474 - - 43,928 - - 2,575,500 - - 2,619,428 2,357 - - - 19,061,761 - 5,111,583 - - 14,226,382 - - 15,505,175 - (3,457,867) 34,845,497 19,061,761 (3,457,867) $ 43,030,583 $ 19,290,272 $ 9,473,035 The notes to the financial statements are an integral part of these statements. C-1 One Cent Infrastructure Cudjoe Regional All Nonmajor Total Infrastructure Revenue Bonds Wastewater Debt Service Governmental Governmental Surtax Series 2014 Project Funds Funds Funds $ 2,534,140 $ 9,674,318 $ 2,074,086 $ 1,340,766 $ 15,990,743 $ 44,540,486 17,638,967 - 12,802,242 1,271,898 84,216,462 158,962,399 - - - - 20,174 1,006,427 - - 28,421,767 - 3,233,825 31,655,592 - 4,501,517 - - - 7,062,962 1,532,790 - 1,250,000 - 1,679,327 8,916,133 - - 3,535 - 4,426,485 12,099,955 - - - - 8,235,695 8,900,716 - - - - (8,235,695) (8,900,716) - - 6,310,092 - - 6,310,092 50,819 - 20,076 4,755 221,670 457,941 - - - - - 2,357 $ 21,756,716 $ 14,175,835 $ 50,881,798 $ 2,617,419 $ 109,788,686 $ 271,014,344 $ 663,571 $ 486,141 $ 2,742,415 $ - $ 5,165,043 $ 16,209,037 371,990 759,492 - - 15,859 1,207,173 28,605 - 2,994 - 745,238 4,292,796 - - - - 2,074,545 9,562,962 22 - - - 222,564 675,410 - - - - 148,542 196,963 - - - - 2,698 5,039 - - - - 189,773 195,183 1,064,188 1,245,633 2,745,409 - 8,564,262 32,344,563 - - - - - 43,928 - - 29,337,385 - 3,706,930 35,619,815 - - 29,337,385 - 3,706,930 35,663,743 - - - - - 2,357 20,692,528 12,930,202 18,799,004 2,617,419 89,615,341 163,716,255 - - - - 2,881,143 7,992,726 - - - - 5,021,010 19,247,392 - - - - - 12,047,308 20,692,528 12,930,202 18,799,004 2,617,419 97,517,494 203,006,038 $ 21,756,716 $ 14,175,835 $ 50,881,798 $ 2,617,419 $ 109,788,686 $ 271,014,344 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, 2017 Revenues: Taxes Licenses and Permits Intergovernmental Charges for Services Fines and Forfeitures Investment Income Miscellaneous Total Revenues Expenditures: Current: General Government Public Safety Physical Environment Transportation Economic Environment Human Services Culture and Recreation Court -Related Capital Projects Debt Service: Principal Interest Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Fine & Governmental General Forfeiture Grants $ 20,716,215 $ 46,372,637 $ - 13,988,168 95,456 5,543,085 661,585 8,982,255 133,900 2,927 76,318 - 182,976 229,214 1,217 658,849 633 57,499 36,210,720 55,756,513 5,735,701 29,080,096 600,000 - 1,491,707 53,923,735 6,488,086 526,555 - 1,328,362 14,966 - 3,472,986 662,679 - 233,004 7,315,889 - 1,745,734 3,393,823 - 173,267 3,666,729 2,013,843 - 46,152,444 56,537,578 13,441,439 9,941,724) (781,065) (7,705,738 Transfers from Other Funds 5,458,771 2,500,000 2,714,575 Transfers to Other Funds (5,049,594) (9,191) (86,462) Issuance of Debt - - - Transfers from Constitutional Officers 6,104,799 591,959 - Total Other Financing Sources (Uses) 6,513,976 3,082,768 2,628,113 Net Change in Fund Balances (3,427,748) 2,301,703 (5,077,625) Fund Balances -October 1 38,273,245 16,760,058 1,619,758 Fund Balances-September30 $ 34,845,497 $ 19,061,761 $ (3,457,867) The notes to the financial statements are an integral part of these statements. C-3 One Cent Infrastructure Cudjoe Regional All Nonmajor Total Infrastructure Revenue Bonds Wastewater Debt Service Governmental Governmental Surtax Series 2014 Proiect Funds Funds Funds $ 21,510,929 $ - $ - $ - $ 55,149,739 $ 143,749,520 - - 1,383,709 - 5,336,231 6,719,940 - - - - 6,431,923 26,058,632 - - - - 9,517,625 19,295,365 - - - - 2,670,542 2,749,787 120,958 125,368 873,400 47,080 676,883 2,257,096 - - 131,480 - 671,764 1,520,225 21,631,887 125,368 2,388,589 47,080 80,454,707 202,350,565 - - - - 3,252,991 32,933,087 - - - - 25,803,131 87,706,659 - - - - 1,628,822 3,483,739 - - - - 4,516,946 8,004,898 - - - - 34,799,157 35,694,840 - - - - 936,969 9,998,592 - - - - 1,877,827 5,444,917 - - - - 372,981 6,053,553 12,662,645 9,437,068 17,336,072 - 1,031,024 40,466,809 - - - 8,427,373 - 8,427,373 - - - 1,457,767 - 1,457,767 12,662,645 9,437,068 17,336,072 9,885,140 74,219,848 239,672,234 8,969,242 (9,311,700) (14,947,483) (9,838,060) 6,234,859 (37,321,669) - 15,000,000 - 9,890,000 163,945 35,727,291 (11,886,490) - (15,000,000) - (4,821,718) (36,853,455) - - 25,397,527 - - 25,397,527 - - 3,119 - 1,113,614 7,813,491 (11,886,490) 15,000,000 10,400,646 9,890,000 (3,544,159) 32,084,854 (2,917,248) 5,688,300 (4,546,837) 51,940 2,690,700 (5,236,815) 23,609,776 7,241,902 23,345,841 2,565,479 94,826,794 208,242,853 $ 20,692,528 $ 12,930,202 $ 18,799,004 $ 2,617,419 $ 97,517,494 $ 203,006,038 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, 2017 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 FIRM Study Lobbyist County Administrator Technical Services Technology Replacement 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) $ 21,162,979 $ 21,162,979 $ 20,716,215 $ (446,764) 12,759,321 12,759,321 13,988,168 1,228,847 638,500 638,500 661,585 23,085 8,000 8,000 2,927 (5,073) 102,000 102,000 182,976 80,976 629,609 700,270 658,849 (41,421) 35,300,409 35,371,070 36,210,720 839,650 1,829,905 1,829,905 1,680,132 149,773 5,000 5,000 - 5,000 100,000 100,000 25,791 74,209 347,821 347,821 246,055 101,766 2,987,585 2,987,585 2,987,585 - 165,988 165,988 132,068 33,920 5,000 5,000 1,209 3,791 35,000 35,000 26,091 8,909 300,000 300,000 270,713 29,287 10,000 10,000 - 10,000 - 30,000 30,000 - 151,432 151,432 120,574 30,858 971,183 971,183 915,521 55,662 2,064,852 2,078,796 2,010,611 68,185 338,000 338,000 308,866 29,134 199,324 239,324 205,180 34,144 489,530 509,530 496,204 13,326 206,186 146,186 121,291 24,895 503,455 535,054 431,407 103,647 13,147 13,147 10,733 2,414 7,200,766 7,200,766 6,655,211 545,555 10,000 10,000 4,400 5,600 1,622,638 1,622,639 1,396,320 226,319 5,204,860 5,204,860 5,088,541 116,319 4,358,841 4,358,841 4,068,952 289,889 1,631,844 1,631,844 1,631,844 - 200,000 230,000 214,797 15,203 100,000 100,000 - 100,000 31,052,357 31,157,901 29,080,096 2,077,805 (Continued) The notes to the financial statements are an integral part of these statements. 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, 2017 Public Safety: Emergency Management Marathon Emergency Operations Center Medical Examiner Fire Academy Fire & EMS Length of Svcs Award Prog Total Public Safety Physical Environment: Extension Service Sustainability Total Physical Environment Transportation: County Engineer Total Transportation Economic Environment: Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) 257,877 287,877 278,825 9,052 79,323 64,324 42,171 22,153 715,402 715,402 705,161 10,241 582,335 582,335 429,600 152,735 39,616 39,616 35,950 3,666 1,674,553 1,689,554 1,491,707 197,847 284,641 284,641 257,694 26,947 663,691 663,692 268,861 394,831 948,332 948,333 526,555 421,778 236,947 236,948 14,966 221,982 236,947 236,948 14,966 221,982 Literacy Volunteers of America 40,000 40,000 40,000 - Veterans Affairs 520,611 521,112 480,471 40,641 Veterans Affairs Transportation 149,434 148,934 142,208 6,726 Total Economic Environment 710,045 710,046 662,679 47,367 Human Services: Middle Keys Guidance Clinic 47,355 47,355 47,355 - Older Americans Volunteer Program 500 500 - 500 Domestic Abuse Shelter 30,000 30,000 29,967 33 Hospice of the Florida Keys 190,000 190,000 142,519 47,481 Florida Keys Outreach Coalition 90,000 90,000 90,000 - Samuel's House 100,000 100,000 100,000 - Womankind 140,000 140,000 140,000 - Grace Jones 55,000 55,000 54,998 2 AIDS Help 55,000 55,000 55,000 - Good Health Clinic 90,000 90,000 90,000 - Monroe Co. Assoc. for ReMARCable Citizens 190,000 190,000 190,000 - Florida Keys Children's Shelter 189,000 189,000 189,000 - Wesley House 169,000 169,000 169,000 - Florida Keys Area Health Education 65,000 65,000 65,000 - Rural Health Network 62,000 62,000 62,000 - (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, 2017 Heron/Peacock Kids Come First - Florida Keys Florida Keys Healthy Start Coalition Keys Area Interdenominational Resources Star of the Sea Foundation Independence Cay Anchors Aweigh Baker Act LKMC FS 394.463 Guidance Care Clinic Baker Act Transp Guidance Care Clinic/Samuel House-FS 394.76 Guidance Care Clinic Jail In-house Prog Historic Florida Keys Foundation Animal Shelters Welfare Administration Welfare Services Health Care Respite Act Bayshore Manor Social Service Transportation Burton Memorial United Methodist Church Keys to Be Change Voices for the Florida Keys Children 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) 47,000 47,000 47,000 - 33,000 33,000 33,000 - 40,000 40,000 37,250 2,750 30,000 30,000 30,000 - 100,000 100,000 100,000 - 30,000 30,000 30,000 - 20,000 20,000 17,819 2,181 83,334 104,167 - 104,167 145,000 145,000 140,894 4,106 690,000 690,000 690,000 - 133,284 133,284 106,594 26,690 32,450 32,450 32,450 - 1,114,969 1,114,969 1,059,357 55,612 671,069 671,069 747,011 (75,942) 1,002,500 1,002,500 972,357 30,143 46,383 46,383 6,363 40,020 890,285 890,285 854,169 36,116 967,855 967,854 906,924 60,930 10,000 10,000 9,990 10 60,000 60,000 59,691 309 15,000 15,000 10,181 4,819 7,634,984 7,655,816 7,315,889 339,927 69,300 69,300 69,300 - 4,500 4,500 4,493 7 4,500 4,500 2,570 1,930 4,500 4,500 3,681 819 4,500 4,500 1,608 2,892 110,000 110,000 110,000 - 40,000 40,000 40,000 - 89,733 89,733 83,660 6,073 750,392 761,392 749,846 11,546 817,892 806,892 777,558 29,334 3,500 148,199 50,606 97,593 385,477 385,477 367,533 17,944 3,000 10,702 5,625 5,077 321,987 321,987 292,464 29,523 (Continued) The notes to the financial statements are an integral part of these statements. 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, 2017 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Library Islamorada Donations 500 7,024 594 6,430 Library Key Largo 462,204 462,204 452,871 9,333 Library Key Largo Donations 500 1,737 300 1,437 Library Big Pine Key 395,587 395,587 378,606 16,981 Library Big Pine Key Donations 3,000 13,545 2,508 11,037 Total Culture and Recreation 3,471,072 3,641,779 3,393,823 247,956 Court Related: Law Library 72,160 72,160 71,667 493 Guardian Ad Litem 201,972 201,972 133,946 68,026 Clerk of the Court -General Mgt 9,752 9,752 111,518 (101,766) Clerk of the Court -Jury Management 17,787 17,787 17,787 - Clerk Records Management 55,910 55,910 55,910 - Clerk of the Circuit Court -Criminal 194,338 194,338 194,338 - Clerk of the Circuit Court -Civil 141,090 141,090 141,090 - Clerk of the Circuit Court -Family 33,360 33,360 33,360 - Clerk of the Circuit Court -Juvenile 4,043 4,043 4,043 - Clerk of the Circuit Court -Probate 18,030 18,030 18,030 - Clerk County Court -Criminal 145,276 145,276 145,276 - Clerk County Court -Civil 52,554 52,554 52,554 - Clerk County Court -Traffic 208,797 208,797 208,797 - State Attorney 324,110 324,108 235,090 89,018 Public Defender 724,606 724,606 633,009 91,597 Court Administration 2,527 2,527 2,087 440 Court Admin-Judicial Support 145,040 145,040 137,276 7,764 Court Case Management 168,299 168,300 158,795 9,505 Court Admin-Circuit Ct Reporter Svcs 1,675 1,675 1,453 222 Court Admin-Circuit Drug Court 419,906 419,906 399,222 20,684 Court Admin-Pretrial Release 537,638 537,637 519,296 18,341 Ct. Admin-Pretrial Svcs Drug Diversion 181,193 181,193 171,215 9,978 Court Admin-Information Systems 233,688 233,688 220,970 12,718 Total Court Related 3,893,751 3,893,749 3,666,729 227,020 Total Expenditures 49,622,041 49,934,126 46,152,444 3,781,682 Excess/Deficiency of Revenues Over (Under) Expenditures (14,321,632) (14,563,056) (9,941,724) 4,621,332 (Continued) The notes to the financial statements are an integral part of these statements. 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, 2017 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Other Financing Sources (Uses): Reserve for Contingencies (688,352) (446,928) - 446,928 Reserve for Cash Balance (6,755,621) (6,755,621) - 6,755,621 Transfers from Other Funds 5,477,412 5,477,412 5,458,771 (18,641) Transfers to Other Funds (355,500) (11,355,500) (5,049,594) 6,305,906 Transfers from Constitutional Officers 3,900,000 3,900,000 6,104,799 2,204,799 Total Other Financing Sources (Uses) 1,577,939 (9,180,637) 6,513,976 15,694,613 Net Change in Fund Balances (12,743,693) (23,743,693) (3,427,748) 20,315,945 Fund Balances -October 1 12,743,693 23,743,693 38,273,245 14,529,552 Fund Balances, September 30 $ - $ - $ 34,845,497 $ 34,845,497 The notes to the financial statements are an integral part of these statements. 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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, 2017 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 Law Enforcement Education Assistance Correction Facilities Medical Air Transport Interagency Communications Juvenile Detention Cost Share Hurricane 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) $ 48,016,897 $ 48,016,897 $ 46,372,637 $ (1,644,260) - - 95,456 95,456 4,996,500 8,206,677 8,982,255 775,578 88,000 88,000 76,318 (11,682) 100,000 100,000 229,214 129,214 2,500 403,536 633 (402,903) 53,203,897 56,815,110 55,756,513 (1,058,597) 600,000 600,000 600,000 - 600,000 600,000 600,000 - 22,200,389 24,968,074 24,659,726 308,348 22,505,696 22,157,889 22,100,467 57,422 25,000 25,000 - 25,000 75,000 75,000 75,000 - 1,974,006 1,974,006 1,730,701 243,305 3,348,289 4,907,878 4,678,314 229,564 563,947 563,947 542,395 21,552 373,000 137,132 137,132 - - 4,000,000 - 4,000,000 51,065,327 58,808,926 53,923,735 4,885,191 50,000 70,000 64,822 5,178 1,991,168 1,991,168 1,949,021 42,147 2,041,168 2,061,168 2,013,843 47,325 53,706,495 61,470,094 56,537,578 4,932,516 Excess/Deficiency of Revenues Over (Under) Expenditures (502,598) (4,654,984) (781,065) 3,873,919 (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, 2017 Other Financing Sources (Uses): Reserve for Contingencies Reserve for Cash Balance Transfers from Other Funds Transfers to Other Funds Transfers from Constitutional Officers Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Original Final Budget Budget Actual Variance with Final Budget Positive (Negative) (521,012) (24,611) - 24,611 (5,498,200) (5,498,200) - 5,498,200 - 2,500,000 2,500,000 - (16,667) (516,667) (9,191) 507,476 1,400,000 1,400,000 591,959 (808,041) (4,635,879) (2,139,478) 3,082,768 5,222,246 (5,138,477) (6,794,462) 2,301,703 9,096,165 5,138,477 6,794,462 16,760,058 9,965,596 - $ - $ 19,061,761 $ 19,061,761 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, 2017 Revenues: Intergovernmental Charges for Services Investment Income Miscellaneous Total Revenues Expenditures: Current: Public Safety: Hurricane Irma Recovery Emergency Management Base Grant Federal Emergency Base Grants Radiological Emerg. Preparedness Emergency Medical Services Award Grant DOJ DC Medical Director Initiative Urban Area Security Initiative Grants Total Public Safety Physical Environment: Canal Restoration Project Exotic Plant Removal EPA Florida Keys Improve Water Quality University of Florida Sea Grant FWC MC Removal Vessels FWC MC Waterway Maker DEP Mobile Vessels DEP Big Pine Key Canal Total Physical Environment Transportation: Card Sound Bridge Repair No Name Key Bridge #904320 Garrison Bight Bridge Scenic Highway Overlooks Roadway Projects Transportation Planning Prog 2012 Pigeon Key Ferry Service Old SR940 Leg A Bridge Repair Pigeon Key Ferry Ramp Repair Total Transportation Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ - $ 16,144,918 $ 5,543,085 $ (10,601,833) - 147,046 133,900 (13,146) - 249 1,217 968 - - 57,499 57,499 - 16,292,213 5,735,701 (10,556,512) - 11,372,726 6,026,735 5,345,991 - 211,612 122,040 89,572 - 95,388 47,812 47,576 - 147,046 110,351 36,695 - 53,912 29,246 24,666 - 15,028 11,100 3,928 - 192,616 140,802 51,814 - 12,088,328 6,488,086 5,600,242 - 1,500,000 39,442 1,460,558 - 170,000 168,788 1,212 - 337,169 104,928 232,241 - 29,978 29,978 - - 320,745 140,857 179,888 - 93,705 63,033 30,672 - 1,287,350 731,336 556,014 - 50,000 50,000 - - 3,788,947 1,328,362 2,460,585 - 3,954,305 2,394,824 1,559,481 - 2,362,130 - 2,362,130 - 2,067,092 706,486 1,360,606 - 1,096,959 2,467 1,094,492 - 225,000 - 225,000 - 464,626 141,898 322,728 - 404,212 217,311 186,901 - 46,034 - 46,034 - 40,488 10,000 30,488 - 10,660,846 3,472,986 7,187,860 (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, 2017 Economic Environment: Small Cities CDBG Disaster Recovery CDBG Total Economic Environment Human Services: Nutritional Services In Progress GCC Male Jail In-house Program Title III-B Supportive Services Title III-C1 Congregate Meals Title III-C2 Home Delivered Meals Title III-E Caregiver Support Services Low Income Home Energy Program Alzheimer's Disease Initiative Community Care Disabled Adults Community Care for the Elderly Home Care for the Elderly Weatherization Assistance Program (WAP) State Housing Initiative Partnership to WAP LIFES AM Respite Project Heron Assisted Living Social Services Transportation Total Human Services Culture and Recreation: State Aid to Libraries Rowell's Marina Scenic Overlook Lower Keys Scenic VW Area Total Culture and Recreation Total Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) - 353,036 233,004 120,032 - 175,822 - 175,822 - 528,858 233,004 295,854 - 112,450 74,711 37,739 - 37,000 35,065 1,935 - 149,093 140,671 8,422 - 204,909 156,951 47,958 - 326,740 217,656 109,084 - 236,033 150,206 85,827 - 266,846 165,381 101,465 - 463,152 196,443 266,709 - 95,586 33,936 61,650 - 304,945 303,281 1,664 - 8,334 7,634 700 - 114,398 101,035 13,363 - 58,181 27,789 30,392 - 8,300 - 8,300 - 39,979 39,979 - - 262,000 94,996 167,004 - 2,687,946 1,745,734 942,212 - 129,156 111,738 17,418 - 130,000 19,437 110,563 - 42,092 42,092 - - 301,248 173,267 127,981 - 30,056,173 13,441,439 16,614,734 (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, 2017 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Excess/Deficiency of Revenues Over (Under) Expenditures - (13,763,960) (7,705,738) 6,058,222 Other Financing Sources (Uses): Transfers from Other Funds - 13,850,422 2,714,575 (11,135,847) Transfers to Other Funds - (86,462) (86,462) - Total Other Financing Sources (Uses) - 13,763,960 2,628,113 (11,135,847) Net Change in Fund Balances - - (5,077,625) (5,077,625) Fund Balances, October 1 - - 1,619,758 1,619,758 Fund Balances, September 30 $ - $ - $ (3,457,867) $ (3,457,867) The notes to the financial statements are an integral part of these statements. C-14 This page is intentionally left blank. MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF NET POSITION PROPRIETARY FUNDS SEPTEMBER 30, 2017 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 $ 2,412,127 $ 716,147 $ 2,533,097 11,083,486 4,236,359 470,706 76,244 - 714,636 2,500,000 - 435,451 38,424 - 584,799 5,363 - 249,770 33,604 15,880 2,203 16,149,248 4,968,386 4,990,662 1,789,268 - 3,844,674 832,179 2,522,068 718,314 6,927,094 56,678,876 6,352,256 7,759,273 59,200,944 22,501,504 12,727,659 64,191,606 293,001 171,987 1,136,870 3,242,650 103,797 409,973 29,394 41,044 79,375 88,275 21,727 170,671 - 117 14,216 17,455 10,763 47,806 - - 6,663 2,345 - - 53,665 - 8,000 3,433,784 177,448 736,704 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 $ - $ 213,637 $ 5,875,008 $ 4,192,880 - 880,371 16,670,922 19,129,582 - 67,612 858,492 313,805 - - 2,935,451 - 735,902 531,542 1,890,667 207,508 - - 255,133 556,872 - 3,610 55,297 63,800 735,902 1,696,772 28,540,970 24,464,447 6,924,885 159,218 8,873,371 - 166,714 - 166,714 - 3,004,203 4,016,205 14,219,329 54,000 - 10,375,162 74,699,446 793,016 10,095,802 14,550,585 97,958,860 847,016 10,831,704 16,247,357 126,499,830 25,311,463 - 114,062 1,715,920 526,214 95,921 362,230 4,214,571 2,144,185 258,269 147,865 555,947 - - 42,375 323,048 94,524 - - - 3,770,948 435,451 - 435,451 - - 4,240 18,573 28 - - - 2,378 - 4,970 80,994 37,859 - 1,815 8,478 - - - 2,345 - - 6,306 67,971 - 789,641 569,801 5,707,378 6,049,922 (Continued) C-16 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF NET POSITION (CONTINUED) PROPRIETARY FUNDS SEPTEMBER 30, 2017 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 177,812 - - 69,818 43,052 191,221 129,632 - - 583,646 336,137 609,586 880,557 549,001 2,964,329 1,841,465 928,190 3,765,136 5,275,249 1,105,638 4,501,840 45,080 25,930 144,036 4,562,988 7,759,273 59,200,944 1,789,268 11,121,920 4,008,805 1,481,656 $ 17,474,176 $ 11,768,078 $ 60,682,600 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 - - 177,812 - - 19,878 323,969 151,446 - - 129,632 - - 391,259 1,920,628 996,521 - 311,459 4,705,346 1,319,228 - 722,596 7,257,387 2,467,195 789,641 1,292,397 12,964,765 8,517,117 - 16,931 231,977 80,349 3,004,203 14,391,367 88,918,775 847,016 7,091,599 - 7,091,599 - - - 1,789,268 - - 159,218 159,218 - (53,739) 501,506 17,060,148 16,393,195 $ 10,042,063 $ 15,052,091 $ 115,019,008 $ 17,240,211 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, 2017 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 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 $ 539,757 $ - $ - 17,514,387 1,012,930 8,137,123 - - 21 53,495 4,282 2,680 18,107,639 1,017,212 8,139,824 1,354,931 845,075 3,053,037 18,622,381 324,093 6,941,180 85,287 298,498 2,386,278 20,062,599 1,467,666 12,380,495 (1,954,960) (450,454) (4,240,671) 90,909 - 2,292,712 - - 768,469 101,944 26,424 22,168 - (75,910) (313) Total Non -Operating Revenues (Expenses) 192,853 (49,486) 3,083,036 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 (1,762,107) (499,940) (1,157,635) 2,500,000 - 249,036 (263,190) (149,693) (331,280) 4,158 - - 478,861 (649,633) (1,239,879) 16,995,315 12,417,711 61,922,479 $ 17,474,176 $ 11,768,078 $ 60,682,600 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 $ - $ - $ 539,757 $ - - 1,456,352 28,120,792 26,046,893 - - 21 - - 144,179 204,636 104,482 - 1,600,531 28,865,206 26,151,375 - 439,143 5,692,186 2,157,204 336,892 907,424 27,131,970 4,917,825 - 646,272 3,416,335 57,577 - - - 20,021,252 336,892 1,992,839 36,240,491 27,153,858 (336,892) (392,308) (7,375,285) (1,002,483) 2,883,905 352,756 5,620,282 - - (12,635) (12,635) - 1,527,272 2,697,553 4,993,294 - 61,724 7,898 220,158 109,156 - - - 1,138,011 - (8,165) (84,388) - 4,472,901 3,037,407 10,736,711 1,247,167 4,136,009 2,645,099 3,361,426 244,684 - - 2,749,036 - (249,036) (50,153) (1,043,352) (579,520) - - 4,158 - 3,886,973 2,594,946 5,071,268 (334,836) 6,155,090 12,457,145 109,947,740 17,575,047 $ 10,042,063 $ 15,052,091 $ 115,019,008 $ 17,240,211 C-20 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF CASH FLOWS PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2017 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 $ 18,000,204 $ 1,012,970 $ 7,963,372 (2,433,692) - (927,481) (16,592,168) (180,842) (6,742,285) (1,180,702) (771,361) (2,505,352) (2,358) (247,314) 2,155 45,363 1,174 2,356 (2,163,353) (185,373) (2,207,235) 90,909 - 2,292,712 2,500,000 - 249,036 (263,190) (149,693) (331,280) 4,158 - - 2,331,877 (149,693) 2,210,468 - - 768,469 (346,267) (927,266) (1,401,061 (346,267) (927,266) (632,592) Investment Income 101,944 26,424 22,168 Proceeds from Sales and Maturities of Investments 8,221,379 4,722,218 602,642 Purchase of Investment Securities (8,078,490) (3,507,764) (410,474) Net Cash Provided by (Used in) Investing Activities 244,833 1,240,878 214,336 Net Increase (Decrease) in Cash and Cash Equivalents 67,090 (21,454) (415,023) Cash and Cash Equivalents: October 1 4,134,305 737,601 2,948,120 September 30 $ 4,201,395 $ 716,147 $ 2,533,097 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 $ 30,327 $ 1,413,848 $ 28,420,721 $ 25,748,250 (702,581) (311,667) (4,375,421) (361,546) - - - 1,138,011 (56,232) (776,001) (24,347,528) (4,466,352) - (369,456) (4,826,871) (1,908,939) 242,450 1,008 (4,059) (450,031) - - - (17,950,665) - 143,533 192,426 90,450 (486.036) 101.265 (4.940.732) 1.839.178 2,883,905 340,121 5,607,647 - - - 2,749,036 - (249,036) (50,153) (1,043,352) (579,520) - - 4,158 - 2,634,869 289,968 7,317,489 (579,520) 1,527,272 2,697,553 4,993,294 - 3.004.203) (3.317.411) (8.996.208) (12.508 (1,476,931) (619,858) (4,002,914) (12,508) 61,724 7,898 220,158 109,156 - 873,744 14,419,983 11,397,196 - (700,356) (12,697,084) (13,200,729) 61,724 181,286 1,943,057 (1,694,377) 733,626 (47,339) 316,900 (447,227) 6,191,259 420,194 14,431,479 4,640,107 $ 6,924,885 $ 372,855 $ 14,748,379 $ 4,192,880 (Continued) C-22 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF CASH FLOWS (CONTINUED) PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2017 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-PFC Nonoperating Income -Insurance Recoveries Change in Assets, Liabilities, and Deferrals: (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 Business -Type Activities Enterprise Funds Major Funds Municipal Card Key Service District Sound West Waste Bridge Airport $ (1,954,960) $ (450,454) $ (4,240,671) 85,287 298,498 2,386,278 (53,940) 40 (166,788) (2,500,000) - (259,840) 67,559 - (457,280) (1,251) - (210,361) (8,132) (3,108) (345) 1,997,038 102,207 134,013 29,394 41,044 64,882 88,275 21,727 170,671 - (246,212) - (2,358) (924) 2,155 - (178) - (20,672) (19,348) 57,253 1,500 - - 2,281 - - - - (6,963) 17,712 10,201 18,500 71,548 42,902 330,421 (11,916) 2,004 (110,442) 29,282 16,228 81,282 (208,393) 265,081 2,033,436 $ (2,163,353) $ (185,373) $ (2,207,235) Noncash Investing, Capital, and Financing Activities: (Loss) on Disposition of Assets $ - $ (75,910) $ (313) Cash Reconciliation: Unrestricted $ 2,412,127 $ 716,147 $ 2,533,097 Restricted 1,789,268 - - Total $ 4,201,395 $ 716,147 $ 2,533,097 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 $ (336,892) $ (392,308) $ (7,375,285) $ (1,002,483) - 646,272 3,416,335 57,577 - - - 1,138,011 30,327 (40,860) (231,221) (298,643) - 17,390 (2,742,450) - (702,581) (329,057) (1,421,359) (112,773) - - (211,612) (277,342) - (646) (12,231) (14,032) 22,391 9,742 2,265,391 451,473 258,269 121,681 515,270 - 42,375 323,048 85,949 - - - 2,070,587 242,450 - (3,762) (417,183) - 1,008 (119) (258) - - (178) (4,021) - (1,974) 15,259 54,596 - - 1,500 - - - 2,281 - - (1,644) (8,607) - - 11,874 58,287 30,242 - 28,909 473,780 129,538 - (23,245) (143,599) (109,320) - 11,748 138,540 57,260 (149,144) 493,573 2,434,553 2,841,661 $ (486,036) $ 101,265 $ (4,940,732) $ 1,839,178 $ - $ (8,165) $ (84,388) $ - $ - $ 213,637 $ 5,875,008 $ 4,192,880 6,924,885 159,218 8,873,371 - $ 6,924,885 $ 372,855 $ 14,748,379 $ 4,192,880 C-24 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 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. 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. D-1 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Blended component units are legally separate entities that are, in substance, part of the Board's operation, as they either have governing bodies that are substantively the same as the Board or they provide their services exclusively, or almost exclusively, to the Board. The financial transactions of the component unit are merged 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 MCIDA 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 separately issued financial statements 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 in a separate section of 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. 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. D-2 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 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 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. Infrastructure Revenue Bonds Series 2014 — The Infrastructure Revenue Bonds Series 2014 Fund is used to account for capital projects funded by the Infrastructure Revenue Bonds Series 2014. Cudjoe Regional Wastewater Capital Project Fund — The Cudjoe Regional Wastewater Capital Project Fund is used to account for the revenues and expenditures for the wastewater infrastructure for the Cudjoe 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. 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. D-3 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 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 Florida Keys Marathon International 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. 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. M, MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 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. Proprietary funds distinguish operating revenues and expenses from non -operating 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 non -operating revenues and expenses. Use of Estimates — The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America, as applicable to governmental units, requires management to make use of estimates that affect the reported amounts in the financial statements. Actual results could differ from estimates. D-5 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Budgets and Bud _getary 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) Throughout the fiscal year, the Office of Management and Budget acts on intradepartmental budget changes that do not alter the total revenue or expenditures budgeted to a cost center. A cost center represents a particular area of Board operations or a department. All other budget changes (whether they are transfers between cost centers or alterations of total revenues and expenditure in a fund) are approved by the Board. Supplemental appropriations were necessary and the budgetary data presented herein was amended by the Board during the year. 7) Florida Statute 129, Section 7, as amended in 1978, provides that only expenditures in excess of total fund budgets are unlawful. However, because the Board acts on all budget changes between cost centers, this becomes the level of control. 8) Budgeted to actual expenditure reports are employed as a management control device during the year for all fund types. 9) Budgets for all funds are adopted on a basis consistent with accounting principles generally accepted in the United States of America (GAAP) for that fund type. 10) All appropriations lapse at year-end. • MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 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, 2017 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 acquisition cost 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, 2017 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 Intangible Assets 10-15 Infrastructure 10-50 Public Domain Infrastructure 20-50 Capacity Rights 99 Capacity rights represent an intangible asset that arose from a contract with a private wastewater operator that included wastewater processing capacity for 1,500 equivalent dwelling units for a period of 99 years. Compensated Absences — Board policy permits employees to accumulate a limited amount of annual and sick leave, which will be paid to employees upon termination of employment. Accumulated annual and sick leave is accrued when earned in the proprietary fund financial statements. For the proprietary funds, an expense and a liability are recorded as the leave is earned. Compensated absences associated with the Board's governmental activities are presented on the government -wide financial statements of the County, rather than on the financial statements of the Board. Restricted Assets — The use of certain assets of enterprise funds is restricted by specific provisions of resolutions and agreements with various parties. Assets so designated are identified as restricted assets on the balance sheet. When both restricted and unrestricted resources are available for use, the hierarchy of enterprise fund spending is to use restricted resources first, 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. 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. =• MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 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 1 st of each year. No accrual for the property tax levy becoming due in November of 2017 is included in the accompanying financial statements, since such taxes are collected to finance expenditures of the subsequent period. Fund Balance Policies — The focus of fund balance reporting is to clearly communicate the constraints imposed upon resources in governmental funds. The fund balance classifications indicate the level of constraints placed upon how resources can be spent and identify the sources of those constraints. The following five classifications: nonspendable, restricted, committed, assigned, and unassigned, serve to inform readers of the financial statements of the extent to which the Board is bound to honor constraints on the specific purposes for which resources in a fund can be spent. Fund balances of governmental type funds are classified as follows: Nonspendable — Include amounts that cannot be spent because they are either not in spendable form, or for legal or contractual reasons, must be kept intact. This classification includes inventory. Restricted — Include amounts that can be spent only for specific purposes because of constitutional provisions or enabling legislation, or because of constraints externally imposed by creditors, grantors, contributors or the laws or regulations of other governments. D-10 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 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 million in the General Fund's disaster reserve funds to ensure adequate cash flow is available in post -disaster situations. On September 10, 2017, the County experienced a damaging hurricane; $4,888,417 of the $10 million committed fund balance for hurricanes was spent on hurricane recovery prior to September 30, 2017. The Board's policy on unassigned general fund balance is to achieve and maintain an unassigned General Fund balance equal to four months of budgeted expenditures. The Board considers a balance of less than four months to be a cause for concern, barring unusual or deliberate circumstances, and a balance of more than six months as excessive. Since this is a plan for accumulating resources rather than a limitation on how existing resources can be spent, the fund balance policy does not affect the classification of fund balance and is included in the unassigned fund balance. The County spends restricted amounts first, when both restricted and unrestricted fund balance is available, unless prohibited by legal documents, grant agreements or contracts. Additionally, the County uses committed fund balance, followed by assigned fund balance and then unassigned fund balance when expenditures are incurred for purposes for which amounts in any of the unrestricted fund balance classifications could be used. Fund Deficit — The Board reported a deficit of ($3,457,867) in the Governmental Grant Fund at September 30, 2017. On September 10, 2017, the County experienced a damaging hurricane. The hurricane's recovery effort resulted in the reported fund deficit because the Board did not receive reimbursement for state and federal disaster aid within 60 days after September 30, 2017. 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 $9,040,085 indicates 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. D-11 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 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, 2017, the carrying value of the Board's deposits and investments, with their respective credit ratings, are as follows: Credit Investment Type Rating Valuation Measurement Method Less than 6 6 Months to I Fair Value Months Year I to 3 Years Demand and Time Deposits N/A N/A $ 63,481,745 $ 63,481,745 $ $ Equity Securities N/A Fair Value - Level 1 12,932 12,932 US Treasury Notes AA+ Fair Value - Level 120,112,839 29,279,255 31,675,753 59,157,831 Federal Agency Bond / Note AA+ Fair Value - Level 2 74,637,132 7,993,788 12,460,503 54,182,841 Total Fair Value $ 258,244,648 $ 100,767,720 $ 44,136,256 $ 113,340,672 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, as it meets the criteria for a qualifying pool in GASB 79. 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, direct obligations of the United States or its agencies and instrumentalities, money market mutual funds and Intergovernmental Investment Pools authorized by the Florida Statutes. The Policy requires that investments in federal instrumentality debt be guaranteed by the full faith and credit of the U. S. Government sponsored agency, and that investments in money market mutual funds have a rating of AAAm or AAAm-G or better by Standard & Poor's (S&P) or other nationally recognized rating agency. All credit ratings indicated in the previous table are S&P ratings. Concentration of Credit Risk — The Policy establishes limitations on portfolio composition, 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: D-12 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 2 — CASH, CASH EQUIVALENTS AND INVESTMENTS (continued) Investment Type Portfolio Maximum Maximum in Any One Issuer Florida Prime (SBA) 100% N/A United States Treasury Securities 100% N/A United States Government Agencies 50% 10% Federal Instrumentalities Maximum in callable securities 80% 30%, with a maximum of 25% in callable securities Interest bearing Time Deposit or Savings Accounts 10% 10% Money Market Mutual Funds 20% 10% Intergovernmental Investment Pool 10% N/A At September 30, 2017, 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) 11.45% Federal National Mortgage Association (FNMA) 16.37% Federal Home Loan Mortgage Corporation (FHLMC) 10.51% 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, 2017, all of the Board's investments are held in a bank's trust department in the Board's name. Interest Rate Risk — The Policy limits the investment of three months of operating expenditures to twelve months. The Policy limits the investment of noncurrent operating funds to five years. Restricted Cash and Cash Equivalents — The Board has the following unrestricted and restricted cash and cash equivalents at September 30, 2017: D-13 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 2 — CASH, CASH EQUIVALENTS AND INVESTMENTS (continued) 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 Local Government Surplus Trust Fund Demand Deposits Total $ - $ 44,540,486 $ 44,540,486 - 4,192,880 4,192,880 7,229 5,867,779 5,875,008 7,229 54,601,145 54,608,374 - 8,873,371 8,873,371 7,229 $ 63,474,516 $ 63,481,745 NOTE 3 — RESTRICTED ASSETS 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, 2017 are as follows: Cash and Cash Equivalents Municipal District Waste Landfill Closure Escrow $ 1,789,268 PFC Oper & Restrictions Passenger Facility Charges 6,924,885 Marathon Airport Customs Service Operations 159,218 Accounts Receivable Total $ - $ 1,789,268 166,714 7,091,599 - 159,218 $ 8,873,371 $ 166,714 $ 9,040,085 D-14 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 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 Misc $ 13,307 $ - $ 13,307 Fine & Forfeiture Fund Air Amb Svc 17,636,022 16,663,087 972,935 Governmental Grants Misc 11 - 11 Nonmajor Funds: Fire & Amb Dist 1 Fund Ground Amb Svc 2,098,604 2,083,333 15,271 Other Nonmajor Funds Misc 4,903 - 4,903 Internal Service Funds Misc 313,805 - 313,805 Total Governmental Activities 20,066,652 18,746,420 1,320,232 Business -Type Activities: MSD-Waste Fund: Tipping Fees 75,318 8,053 67,265 Waste Assessments 8,139 7,326 813 Solid Waste 8,166 - 8,166 Key West Airport Rent, Misc 714,636 - 714,636 Marathon Airport Rent, Misc 67,612 - 67,612 Total Business -Type Activities 873,871 15,379 858,492 Total Accounts Receivable $ 20,940,523 $ 18,761,799 $ 2,178,724 The Board of County Commissioners voted to approve air and ground ambulance billing write offs of $944,260 and $695,318 for fiscal year 2017. D-15 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 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, 2017 consist of the following: Major Governmental Funds -Governmental Grants Fund: Second Mortgages Receivable from individuals, collateralized by personal residences. Payment of principal deferred for ten (10) years from date of note. Principal is amortized in equal monthly amounts starting in year six (6) until ten (10) at which time the loan is fully forgiven. In event of sale/transfer of property or occupancy, the prorated principal balance is due in full within thirty (30) days of sale/transfer or cessation of primary residence. $ 665,021 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. 29,801 D-16 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 6 — MORTGAGES RECEIVABLE (continued) Nonmajor Governmental Funds -Local Housing Assistance (continued): Second Mortgages Receivable from individuals, collateralized by personal residences. Principal payments shall be deferred for the term of the first mortgage loan, or until the date the last payment is due on the first mortgage. Interest is not charged on the mortgages unless the mortgagor is in default, in which case the interest rate is 12% per annum from the date when payment of the second is due. The entire balance of the loan is intended to be forgiven. However, in the event the home is sold, transferred, rented, refinanced or the first mortgage loan is satisfied, the entire mortgage balance is due. 7,333,902 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. 492,674 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. 73,785 Florida Homebuyer Opportunity Tax Credit (FHOP), Second Mortgages Receivable from individuals, collateralized by personal residences. Interest 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. 289,533 Total Nonmajor Governmental Funds -Local Housing Assistance 8,235,695 Total Mortgages Receivable $ 8,900,716 D-17 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 6 — MORTGAGES RECEIVABLE (continued) The mortgages receivable associated with the governmental grants are offset by an allowance for uncollectible accounts of $665,021 . As the mortgages receivable associated with the Local Housing Assistance fund are intended to ultimately be forgiven, an allowance for uncollectible accounts of $8,235,695 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, 2017 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 74,767,415 $ 857,028 $ - $ 75,624,443 46,919,460 42,915,015 (26,269,610) 63,564,865 121,686,875 43,772,043 (26,269,610) 139,189,308 160,106,381 2,755,900 - 162,862,281 32,732,180 2,354,061 (1,265,248) 33,820,993 262,679,693 23,097,369 (1,090,862) 284,686,200 3,150,000 - - 3,150,000 458,668,254 28,207,330 (2,356,110) 484,519,474 (61,487,562) (3,267,348) (23,098,931) (2,267,791) (36,969,402) (5,760,495) (381,816) (31,818) (121,937,711) $(11,327,452) 336,730,543 $ 458,417,418 1,260,018 564,266 $ 1,N24,2N4 (64,754,910) (24,106,704) (42,165,631) (413,634) (131,440,879) 353,078,595 $ 492,267,903 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 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 $ 5,647,606 $ - $ 975,304 8,573,929 6,622,910 8,573,929 212,925 58,769,003 4,881,261 cc ion zcti 80,368 676,450 tin 1) 071 Rrrinrtiom FnrlinoRalanrrQ - $ 5,647,606 (977,510) 8,571,723 (977,510) 14,219,329 212,925 58,849,371 (363,414) 5,194,297 cti n z7 21)7 1,377, i oy kjw,-+i-+) iw,U73,7w (212,925) - - (212,925) (15,323,336) (1,494,544) - (16,817,880) (3,750,462) (259,284) 279,025 (3,730,721) (1)z r,7n 11111)� N tir") r%mM _ Or% 111 onon k`FG,oJ /,1 V.7) m ��,�ri�,�� 'D L/7,vL-) ��r�,yy�r,�r i_)) 76,800,380 74,699,445 $ 83,423,290 $ 88,918,774 Depreciation was charged to functions/programs on the government -wide Statement of Activities of the County as follows: Governmental Activities: Business -Type Activities: General Government $ 1,959,264 Municipal Service District -Waste $ 85,287 Public Safety 2,147,130 Card Sound Bridge 298,498 Physical Environment 4,244,378 Key West Airport 2,386,278 Transportation 885,283 Marathon Airport 646,272 Economic Environment 793,870 Human Services 204,434 Total Business -Type Activities $ 3,416,335 Culture and Recreation 386,588 Court Related 677,163 Total Governmental Activities $ 11,298,110 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-19 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 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 Other Post -Employment Benefits (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, 2017, there were no terminated employees entitled to deferred benefits. The membership of the County's medical plan consisted of: Active Employees 1,222 Retirees and Beneficiaries Currently Receiving Benefits 425 Total Membership D-20 1,647 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 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 12, 2017, as of October 1, 2016, 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 mirrored those used for the various Florida Retirement System pension funds. The actuarial assumptions include an annual health care cost trend rate of 7.0% 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, 2016 (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 $ 4,637,000 Interest on Net OPEB Obligation 1,597,000 Adjustment to Annual Required Contribution (1,426,000) Annual OPEB Cost 4,808,000 Less Contributions Made (3,558,313) Increase in Net OPEB Obligation 1,249,687 Net OPEB Obligation, Beginning of Year 39,929,033 Net OPEB Obligation, End of Year $ 41,178,720 D-21 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 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 2017 and the two preceding years were as follows (amounts expressed in thousands): 3 Year Trend Information Fiscal Annual Percentage Net Year OPEB Annual Cost OPEB Ended Cost Contributed Obligation 9/30/2015 $ 6,700 55.5% $ 38,100 9/30/2016 5,647 67.6% 39,929 9/30/2017 4,637 76.1% 41,179 The estimated net OPEB obligation at the end of the year is $39,258,092 for Governmental Activities and $1,920,628 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_Pro_ gress — 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. 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. NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS Florida Retirement Svstem: 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 D-22 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) 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 60S, Florida Administrative Code. Amendments to the law can be made only by an act of the Florida State Legislature. 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 operations/retiremenL/publications. 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 D-23 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) 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. 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, 2016 through June 30, 2017 and from July 1, 2017 through September 30, 2017, respectively, were as follows: Regular7.52% and 7.92%; Special Risk Administrative Support28.06% and 34.63%; Special Risk22.57% and 23.27%; Senior Management Service21.77% and 22.71%; Elected Officers'42.47% and 45.50%; and DROP participants12.99% and 13.26%. These employer contribution rates include 1.66% and 1.66% HIS Plan subsidy for the periods October 1, 2016 through June 30, 2017 and from July 1, 2017 through September 30, 2017, respectively. The Board's contributions, including employee contributions, to the Pension Plan totaled $2,888,380 for the fiscal year ended September 30, 2017. Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions — The Board's governmental funds, which use 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-24 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 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, 2017, the Board's enterprise and internal service funds reported a liability of $4,395,940 for their proportionate share of the Pension Plan's net pension liability. The net pension liability was measured as of June 30, 2017, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of July 1, 2017. The Board's proportionate share of the net pension liability was based on the Board's FY 2017 contributions relative to the FY 2017 contributions of all participating members. At June 30, 2017, the Board's proportionate share for all funds was 0.1104 percent, which was an increase of 0.0029 percent from its proportionate share measured as of June 30, 2016. Approximately 13.50% 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, 2017, the Board's enterprise and internal service funds recognized pension expense of $830,114. 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 $ 370,380 $ 22,355 Changes of Assumptions 1,356,295 - Net Difference Between Projected and Actual Earnings on Pension Plan Investments - 100,015 Changes in Proportion and Differences Between Pension Plan Contributions and Proportionate Share of Contributions 99,190 50,306 Pension Plan Contributions Subsequent to the Measurement Date 101,545 - Total $ 1,927,410 $ 172,676 D-25 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 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 $101,545, will be recognized as a reduction of the net pension liability in the fiscal year ended September 30, 2017. 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 2018 $ 215,783 2019 573,537 2020 401,018 2021 81,937 2022 277,129 Thereafter 103,785 Total $ 1,653,189 Actuarial Assumptions — The total pension liability in the June 30, 2017 actuarial valuation was determined using the following actuarial assumption, applied to all periods included in the measurement: Inflation 2.60% Salary increases 3.25%, average, including inflation Investment rate of return 7.10%, 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, 2017, 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 decreased from 7.60% to 7.10%, and the active member mortality assumption was updated. D-26 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 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 Target Allocation (1) Compound Annual Annual Arithmetic (Geometric) Return Return Standard Deviation Cash 1% 3.0% 3.0% 1.8% Fixed Income 18% 4.5% 4.4% 4.2% Global Equity 53% 7.8% 6.6% 17.0% Real Estate (Property) 10% 6.6% 5.9% 12.8% Private Equity 6% 11.5% 7.8% 30.0% Strategic Investments 12% 6.1% 5.6% 9.7% 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 7.10%. 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 Liability to Chanizes 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 7.10%, 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 (6.10%) or one percentage point higher (8.10%) than the current rate: D-27 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) FRS Net Pension Liability Current Discount 1 % Decrease Rate 1 % Increase (6.10%) (7.10%) (8.10%) Enterprise and Internal Service Funds Proportionate Share of the Net Pension Plan Liability $ 7,956,394 $ 4,395,940 $ 1,439,956 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, 2017, 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, 2017, the HIS contribution for the period October 1, 2016 through June 30, 2017 and from July 1, 2017 through September 30, 2017 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 $533,517 for the fiscal year ended September 30, 2017. MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) 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, 2017, the Board's enterprise and internal service funds reported a liability of $1,628,634 for their proportionate share of the Board's HIS Plan's net pension liability. The net pension liability was measured as of June 30, 2017, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of July 1, 2017. The Board's proportionate share of the net pension liability was based on the Board's FY 2017 contributions relative to the FY 2017 contributions of all participating members. At June 30, 2017, the Board's proportionate share of all funds was 0.09895 percent, which was an increase of 0.0036 percent from its proportionate share measured as of June 30, 2016. Approximately 15.39% 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. For the fiscal year ended September 30, 2017, the Board's enterprise and internal service funds recognized pension expense of $152,521. In addition, these activities reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: HIS Pension Deferred Deferred Outflows of Inflows of Resources Resources Differences Between Expected and Actual Experience $ - $ 3,284 Changes of Assumptions 221,671 136,366 Net Difference Between Projected and Actual Earnings on HIS Plan Investments 875 - Changes in Proportion and Differences Between HIS Plan Contributions and Proportionate Share of Contributions 70,614 HIS Plan Contributions Subsequent to the Measurement Date 21,564 - Total $ 314,724 $ 139,650 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 $21,564 , will be recognized as a reduction of the net pension liability in the fiscal year ended September 30, 2017. 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: D-29 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) HIS Year ended June 30: Amount 2018 $ 47,855 2019 47,549 2020 47,402 2021 35,538 2022 14,014 Thereafter (38,848) Total $ 153,510 Actuarial Assumptions — The total pension liability in the July 1, 2017, actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the measurement: Inflation 2.60% Salary increases 3.25%, average, including inflation Municipal bond rate 3.58% Mortality rates were based on the Generational RP-2000 with Projection Scale BB tables. The actuarial assumptions used in the July 1, 2017, 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 increased from 2.85% to 3.58%. Discount Rate — The discount rate used to measure the total pension liability was 3.58%. In general, the discount rate for calculating the total pension liability is equal to the single rate equivalent to discounting at the long-term expected rate of return for benefit payments prior to the projected depletion date. Because the HIS benefit is essentially funded on a pay-as-you-go basis, the depletion date is considered to be immediate, and the single equivalent discount rate is equal to the municipal bond rate selected by the HIS Plan sponsor. The Bond Buyer General Obligation 20-Bond Municipal Bond Index was adopted as the applicable municipal bond index. Sensitivitv of the Board's Proportionate Share of the Net Position Liabilitv to Chanizes in the Discount Rate — The following represents the Board's enterprise and internal service funds proportionate share of the net pension liability calculated using the discount rate of 3.58%, as well as what the proportionate share of the net pension liability would be if it were calculated using a discount rate that is one percentage point lower (2.58%) or one percentage point higher (4.58%) than the current rate: D-30 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) HIS Net Pension Liability Current Discount 1% Decrease Rate 1% Increase (2.58%) (3.58%) (4.58%) Enterprise and Internal Service Funds Proportionate Share ofthe Net HIS Plan Liability $ 1,858,487 $ 1,628,634 $ 1,437,179 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. 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% of payroll and by forfeited benefits of plan members for the periods October 1, 2016 through June 30, 2017 and from July 1, 2017 through September 30, 2017, respectively. Allocations to the investment member's accounts during the F Y 2017, 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%. D-31 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) 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. Non -vested 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, 2017, the information for the amount of forfeitures was unavailable from the SBA; however, management believes that these amounts, if any, would be immaterial to the Board. After termination and applying to receive benefits, the member may rollover vested funds to another qualified plan, structure a periodic payment under the Investment Plan, receive a lump sum distribution, leave the funds invested for future distribution, or any combination of these options. Disability coverage is provided; the member may either transfer the account balance to the Pension Plan when approved for disability retirement to receive guaranteed lifetime monthly benefits under the Pension Plan, or remain in the Investment Plan and rely upon that account balance for retirement income. The Board's Investment Plan pension expense totaled $565,476 for the fiscal year ended September 30, 2017. 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. D-32 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES (continued) 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 VII, Florida Statutes. 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 45 participants, of which 17 are active, 14 are inactive and 14 are retired members for the plan year ended December 31, 2017 and the County's fiscal year ending September 30, 2017. 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, 2017 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, 2017 valuation for the period of January 1, 2016 through December 31, 2016 were: D-33 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES (continued) 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 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 modified accrual basis of accounting. The contributions are recognized when they become susceptible to accrual; when they become both measurable and available. Benefits are recognized in the accounting period in which the related fund liability is incurred 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 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-34 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES (continued) Changes in Total Pension Liability Balance at January 1, 2016 Changes for the year: Service Cost Interest Differences Between Expected and Actual Experience Benefit Payments, Including Refunds of Employee Contributions Net Changes Balance at December 31, 2016 $ 917,368 22,937 9,146 (39,039) (32,265) (39,221) $ 878,147 Sensitivity of the Net Pension Liability to Changes in the Discount Rate — The following table presents the net pension liability 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 $ 952,344 $ 878,147 $ 787,476 Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions For the year ended September 30, 2017, the Board recognized pension expense of $32,265. At September 30, 2017, 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 $ - $ 426 D-35 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 11 — CAPITAL AND OTHER SIGNIFICANT COMMITMENTS Construction projects and significant commitments, excluding encumbrances reported below, under present contractual agreements as of September 30, 2017 are as follows: Cudjoe Regional Wastewater Key West International Airport Apron Stock Island Road and Drain Projects Key Largo Road and Drain Projects Canal -Related Projects Key West International Airport Drainage Projects Card Sound Toll Facility Garrison Bight Bridge Transfer Stations Key West International Airport Customs Plantation Key Courthouse & Detention Center Long Key Wastewater Project Department of Juvenile Justice Bernstein Park Key West Library Monroe County Detention Center HVAC Jackson Square Chiller Marathon Library Monroe County SherifFence Sugarloaf Bridge Rowell's Waterfront Park Traffic Monitoring Others (less than $100,000) Total $ 10,523,598 7,113,539 4,641,043 2,212,908 2,151,072 1,975,948 1,624,761 1,052,756 821,489 751,644 671,900 631,479 397,404 296,593 230,000 183,589 173,541 157,116 156,852 131,645 127,507 107,070 766,136 $ 36,899,590 The entire construction costs of the Cudjoe Regional Wastewater project are estimated at $200 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. D-36 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 11 — CAPITAL AND OTHER SIGNIFICANT COMMITMENTS (continued) Significant encumbrance commitments at September 30, 2017 are as follows: Governmental Activities: General Fund Road & Bridge Fund Governmental Grants Fund One Cent Infrastructure Surtax Series 2014 Revenue Bonds Nonmajor Governmental Funds Total Governmental Activities Business -Type Activities: Card Sound Bridge Key West Airport Marathon Airport Passenger Facility Charge Total Business -Type Activities Total Encumbrances NOTE 12 — LEASE OBLIGATIONS Fncnmbrnnce $ 338,014 2,572,461 2,006,366 717,880 159,207 232,197 6,026,125 1,436,636 1,546,529 1,250,919 9,590,278 13,824,362 $ 19,850,487 Rental expense under cancelable operating leases for the current year amounted to $1,310,452. D-37 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 13 — LONG-TERM DEBT Long-term debt activity for the year ended September 30, 2017 is as follows: Current Portion of Long-term Beginning Balances Additions Payments Ending Balances Liabilities Governmental Activities: Revenue Bonds Payable $ 53,849,136 $ - $ 7,056,091 $ 46,793,045 $ 7,233,045 Revenue Notes Payable* 92,085,120 28,161,462 477,373 119,769,209 490,397 Mayfield Agreement (KLWTD) 16,000,000 - 1,000,000 15,000,000 1,000,000 Accrued Comp. Absences 3,400,895 2,550,071 2,085,055 3,865,911 773,183 OPEB Liability 38,066,692 4,475,743 3,284,343 39,258,092 - Pension Liability - FRS 34,017,064 7,607,617 3,089,239 38,535,442 Pension Liability - LOSAP 917,368 32,083 71,304 878,147 - Total Governmental Activities 238,336,275 42,826,976 17,063,405 264,099,846 9,496,625 Business -type Activities Landfill Closure Costs 175,531 2,281 - 177,812 - Accrued Comp. Absences 389,704 294,997 279,738 404,963 80,994 OPEB Liability 1,862,341 171,000 112,713 1,920,628 - Pension Liability 4,231,566 806,439 332,659 4,705,346 - Total Business -type Activities 6,659,142 1,274,717 725,110 7,208,749 80,994 Total Long- Tenn Debt $ 244,995,417 $ 44,101,693 $ 17,788,515 $ 271,308,595 $ 9,577,619 "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. MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 13 — LONG-TERM DEBT (continued) The Group Insurance Internal Service Fund assesses a monthly premium per employee in each fund. The monthly premiums paid by the various funds provide the resources necessary to liquidate the other postemployment benefit obligations paid in the current year by the Group Insurance Internal Service Fund. The current portion of the post closure maintenance liability is expected to be insignificant and will be funded by the County's operations budget instead of the related escrow funds required by federal and state laws. Accordingly, the entire post closure maintenance liability is classified as long-term. The following summary reflects the Board's bonds and notes as of September 30, 2017: Governmental Activities Revenue Bonds Infrastructure Sales Surtax Revenue Bonds, Series 2007 $ 3,445,000 Infrastructure Sales Surtax Revenue Bonds, Series 2014 27,330,000 Infrastructure Sales Surtax Refunding Revenue Bond, Series 2016 15,965,000 Unamortized Original Issue Premium, Series 2007 53,045 Total Revenue Bonds 46,793,045 Revenue Notes: Clean Water State Revolving Fund Construction Loan Agreement 2010 7,189,708 Clean Water State Revolving Fund Construction Loan Agreement 2014 112,579,501 Total Revenue Notes 119,769,209 Mayfield Agreement - Key Largo Wastewater Treatment District 15,000,000 Total Governmental Debt $181,562,254 D-39 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 13 — LONG-TERM DEBT (continued) Debt Service Funding Requirements — The total annual debt service requirements for bonds and notes outstanding at September 30, 2017 are as follows: Principal Govcrnmcntal Activities Interest Total 2018 $ 8,723,442 $ 1,278,587 2019 7,078,777 1,005,483 2020 7,192,522 889,462 2021 7,311,642 770,809 2022 7,436,147 581,495 2023-2027 29,602,546 1,187,928 2028-2032 1,637,677 33,585 Total Required Debt Service $ 10,002,029 8,084,260 8,081,984 8,082,451 8,017,642 30,790,474 1,671,262 68,982,753 $ 5,747,349 $ 74,730,102 2014 Clcan Water State Rcvolving Fund Construction Loan Agreement* 112,579,501 Total GovcrnmcntalDcbt $ 181,562,254 *2014 CWSRF notes are still in the draw down process. Debt service is required to begin June 15, 2019. Long-term debt at September 30, 2017 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: $3,445,000 • 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 $3,617,250. For the fiscal year, principal and interest paid was $3,632,000 and total pledged revenue was $21,510,929. • Purpose: To construct and acquire equipment and capital improvements. • Call provisions: None � �1 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 13 — LONG-TERM 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: $27,330,000 • 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 $29,970,132. For the fiscal year, principal and interest paid was $4,283,886 and total pledged revenue was $21,510,929. • Purpose: To construct and acquire equipment and capital improvements. • Call provisions: None $19,500,540 Clean Water State Revolvinz 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: $7,189,708 • 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 $8,524,228. For the fiscal year, principal and interest paid was $681,938 and total pledged revenue was $36,721,002. • Purpose: Refund temporary financing for wastewater capital improvements. • Call provisions: None D-41 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 13 — LONG-TERM 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, 2017, loan draws of $25,397,527 were received and accumulated interest of $2,763,935 capitalized resulting in an outstanding loan balance as of September 30, 2017 of $112,579,501. • Interest rate: various interest rates (2.35% - 3.07%) as of September 30, 2017 • Final maturity and payment: Details to be determined upon completion of draw process. • Reserve requirement: None • Revenue pledged: One -Cent Local Government Infrastructure Sales Surtax and Cudjoe Regional Wastewater special assessments. For the fiscal year, there were no principal and interest payments made as the loan was still in the draw process and total pledged revenue was $22,894,638. • Purpose: Financing for wastewater capital improvements. • Call provisions: None $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: $15,965,000 • 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 $17,755,682. For the fiscal year, principal and interest paid was $237,258 and total pledged revenue was $21,510,929. • 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: $15,000,000 D-42 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 13 — LONG-TERM DEBT (continued) • Reserve requirement: None • Revenue pledged: One -Cent Local Government Infrastructure Sales Surtax. The total principal remaining to be paid is $15,000,000. For the fiscal year, principal paid was $1,000,000 total pledged revenue was $21,510,929. • Purpose: Capital improvements with respect to Cudjoe Regional Wastewater Project • Call provisions: None • See Note 14 for additional information related to this agreement. NOTE 14 — INTERLOCAL AGREEMENT EXPENSE Administered by the Florida Department of Environmental Protection (FDEP), 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 in 2015 between Monroe County and KLWTD, FDEP sent Monroe County an amendment to the Mayfield Grant in FY 2014-15 to add the $17 million reallocated funds to the grant agreement between FDEP 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. Similarly, during the 2016 legislative session, the Florida Legislature appropriated $5 million for water quality projects under the Florida Keys Stewardship Act. Of the $5 million, $1.25 million was awarded to the KLWTD and they subsequently voted to have Monroe County use its 2016 allotment. In turn, FDEP sent Monroe County an amendment to the Mayfield Grant in FY 2016-17 to add the $1.25 million reallocated fund to the grant agreement between FDEP and Monroe County. Monroe County entered into the grant agreement with FDEP in FY 2016-17 and received the $1.25 million in FY 2017-18. The ILA created transactions with two separate parts 1) a grant between FDEP 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. D-43 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 15 — CONDUIT DEBT IDA Health Care Facilities Revenue Bonds, Series 2003 — The Monroe County Industrial Development Authority approved the issuance of IDA Health Care Facilities Revenue Bonds, Series 2003, not to exceed $2,500,000 and for a loan by the Authority to the Guidance Clinic of the Middle Keys, Inc. to provide for the refinancing of certain outstanding indebtedness of the corporation and for financing certain capital improvements to the corporation's health care facilities. Ownership of the acquired facilities is in the name of the private entity served by the bond issuance. Neither the County, the Authority, the State, nor any political subdivision thereof is obligated in any manner for the repayment of the bonds. Accordingly, the bonds are not reported as liabilities in the accompanying financial statements. Maturity of the Series 2003 Bonds is August 1, 2018. City of South Miami Health Facilities Authority Hospital Revenue Bonds, Series 2007 — On April 18, 2007, the Board approved an interlocal agreement with the City of South Miami Health Facilities Authority for the issuance of $800,000,000 of tax-free bonds for Mariner's Hospital (Baptist Health South) for the purpose of financing capital improvements to health care facilities and refund outstanding bonds. The facilities will be owned by the issuers of the bonds and the Board is not obligated in any way for the repayment of the bonds. Monroe County was part of a group consisting of the State of Florida and other units of local government that participated to establish the tax-free status of the bonds. Accordingly, the bonds are not reported as liabilities in the accompanying financial statements. Maturity of the Series 2007 Bonds is August 15, 2042. 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 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, 2017, the estimated future cost for post closure maintenance was $177,812. MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 16 — RECOGNITION OF CLOSURE AND POST CLOSURE COST (continued) 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 FDEP 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 $13,528 and investment earnings of $9,433 were added to the escrow account. In accordance with laws and regulations, the landfill had cash and investments of $1,789,268 held for these purposes at September 30, 2017. In the event closure escrows and interest earnings prove inadequate due to inflation, changes in technology or additional post closure care requirements, these costs may need to be covered by charges to service users. NOTE 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. In addition, at year end, the Board transferred cash of $4,888,417 to the Governmental Grants Fund and the Municipal Services District Waste Fund for funding hurricane recovery efforts. Receivable Fund General Fund Infrastructure Revenue Bonds Series 2014 Governmental Grants Payable Fund Nonmajor Governmental Governmental Grants Nonmajor Governmental General Fund Municipal Services District Waste Fund General Fund Key West Airport PFC Operations & Restrictions D-45 Amount $ 173,028 2,600,000 1,901,517 2,388,417 2,500,000 435,451 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 18 — INTERFUND TRANSFERS Interfund transfers at September 30, 2017 are as follows: Transfers to General Fund from: One Cent Infrastructure Surtax Fund Card Sound Bridge Fund Municipal Service District -Waste Internal Service Funds Marathon Airport Key West Airport Nonmajor Governmental Funds Total $ 178,428 149,693 263,190 579,520 50,153 331,280 3,906,507 5,458,771 Transfers to Fine & Forfeiture Fund from: One Cent Infrastructure Surtax Fund 2,500,000 Transfers to Governmental Grants Fund from: General Fund 2,549,594 Fine & Forfeiture Fund 9,191 Nonmajor Governmental Funds 155,790 Total 2,714,575 Transfers to 2014 Revenue Bonds from: Cudjoe Regional Wastewater Project Fund 15,000,000 Transfers to Debt Service Fund from One Cent Infrastructure Surtax Fund 9,208,062 Nonmajor Governmental Funds 681,938 Total 9,890,000 Transfers to Nonmajor Governmental Funds from: Governmental Grants Fund 86,462 Nonmajor Governmental Funds 77,483 Total 163,945 Transfers to Municipal Services District Waste from: General Fund 2,500,000 Transfers to Key West Airport Fund from: PFC & Oper Restrictions 249,036 Total Interfund Transfers $ 38,476,327 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 18 — INTERFUND TRANSFERS (continued) The General Fund transferred $4,888,417 of the County's $10 million committed fund balance for disaster recovery to other funds for debris removal and other hurricane recovery -related expenses: $2,388,417 was transferred to the Governmental Grants Fund and $2,500,000 was transferred to the Municipal Services District Waste Fund. The One Cent Infrastructure Surtax Fund, a major fund, transferred $9,208,062 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 a third Trauma Star helicopter. The Cudjoe Regional Wastewater Project transferred $15,000,000 of the Revenue Bonds Series 2014 Fund to finance various capital projects. Transfers to the Government Grants Fund of $249,732 represent funds needed to meet match requirements including $109,264 transferred from the Boating Improvement Fund to meet match requirements for the County's derelict vessel removal grant. The Passenger Facilities Charges (PFC) Fund transferred PFC receipts to the Key West International Airport in the amount of $119,565 to fund approved projects by the Federal Aviation Administration (FAA). Among the FAA -approved projects were wetland mitigation monitoring, design and installation of piped interconnections for runways and taxiways for improved drainage, design of new storm water drainage wells and the construction of a new pump station, airfield security improvements, and rehabilitation of the commercial aircraft parking apron and taxiway. The remaining transfers are related to supporting the County's operations. D-47 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 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, 2017 is presented below: Fund Balances: Nonspendable: Inventory Total Nonspendable Restricted for: Law Enforcement 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 Wastewater Projects Other Purposes Debt Service Capital Projects Total Restricted Committed to: Disaster Recovery Physical Environment Wastewater Projects Beach Renourishment Total Committed Assigned to: Other Purposes Fire & Ambulance Subsequent Year's Expenditures Total Assigned Unassigned: Total Fund Balances One Cent Governmental Infrastructure General Fine & Forfeiture Grants Surtax $ 2,357 $ 2,357 19,061,761 20,692,528 - 19,061,761 - 20,692,528 5,111,583 - - - 5,111,583 - - - 338,014 - - - 13,888,368 - - - 14,226,3 82 - - - 15,505,175 - (3,457,867) - $ 34,845,497 $ 19,061,761 $ (3,457,867) $ 20,692,528 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 NOTE 19 — GOVERNMENTAL FUND BALANCE CLASSIFICATIONS (continued) Infrastructure Cudjoe Regional Nonmajor Total Revenue Bonds Wastewater All Debt Service Governmental Governmental Series 2014 Project Funds Funds Funds $ - $ - $ - $ - $ 2,357 - 18,799,004 12, 93 0,202 - 12, 93 0,202 18,799,004 2,357 - 2,987,993 22,049,754 - 1,926,443 1,926,443 - 6,080,759 6,080,759 - 3,538,302 3,538,302 - 16,087,889 16,087,889 - 1,950,406 1,950,406 - 33,971,046 33,971,046 - 85,478 85,478 - 1,137,819 1,137,819 - 300,486 300,486 - 1,373,502 1,373,502 - 5,483,717 5,483,717 - 5,242,910 5,242,910 - 1,632,994 20,431,998 - 831,269 831,269 2,617,419 - 2,617,419 - 6,984,328 40,607,058 2,617,419 89,615,341 163,716,255 5,111,583 - 2,297,016 2,297,016 - 371,469 371,469 - 212,658 212,658 - 2,881,143 7,992,726 - - 338,014 - 5,021,010 5,021,010 - - 13,888,368 - 5,021,010 19,247,392 12, 047,3 08 $ 12,930,202 $ 18,799,004 $ 2,617,419 $ 97,517,494 $ 203,006,038 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 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 2017 and 2016 were: Unpaid Claims at Sept. 30, 2015 Incurred Claims (Including IBNRs) Claim Payments Unpaid Claims at Sept. 30, 2016 Incurred Claims (Including IBNRs) Claim Payments Worker's Comp. Group Insurance $ 917,954 $ 927,198 1,991,437 16,899,485 Risk Mgmt $ 189,345 226,680 Total $ 2,034,497 19,117,602 (2,484,282) (16,798,211) (169,245) (19,451,738) 425,109 1,028,472 246,780 1,700,361 1,928,729 16,186,908 1,905,615 20,021,252 (1,583,782) (16,059,964) (306,919) (17,950,665) Unpaid Claims at Sept. 30, 2017 $ 770,056 $ 1,155,416 $ 1,845,476 $ 3,770,948 D-50 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 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 expected prior to the end of FY 2018. 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. 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 Plaintiffs 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 FY 2018. The Board has recorded a liability of $775,000 in the government -wide financial statements only, as the date of payment is unknown. D-51 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2017 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 — SUBSEQUENT EVENTS On September 10, 2017, Monroe County sustained catastrophic damage county -wide due to a direct hit from Hurricane Irma, a Category 4 storm. The storm resulted in substantial expenditures on protective and security measures, debris clean-up and repairs to county buildings and facilities. These expenditures are expected to continue for at least another year. The County incurred immediate costs associated with emergency protective measures and debris removal totaling approximately $40 million. Due to the size of the immediate need for liquidity, and due to anticipated delays in disaster aid reimbursement from federal and state agencies, the County adopted Resolution 020-2018 to fund a portion of the substantial expenditures on an interim basis by issuing Series 2018 Tax Exempt Master Note, a revolving line of credit of up to $40 million with PNC Bank. As of March 29, 2018, the County has drawn $15 million of the line of credit. The assumed interest rate floats based on one month LIBOR and at the date of the last draw was approximately 2.04%. The County agrees to budget and appropriate legally available non -ad valorem revenues to repay the line of credit beginning August 1, 2019 through a final maturity of August 1, 2022. The County anticipates using reimbursements from federal and state agencies under disaster assistance programs to repay the line of credit. Management has evaluated subsequent events through March 29, 2018, in connection with the preparation of these financial statements, which is the date the financial statements were available to be issued. D-52 This page is intentionally left blank. MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF THE BOARD'S PROPORTIONATE SHARE OF NET PENSION LIABILITY FLORIDA RETIREMENT SYSTEM PENSION PLAN LAST TEN FISCAL YEARS" 2017 2016 2015 2014 Board's proportion of the net pension liability 0.110416195% 0.107471975% 0.103158114% 0.104891393% Board's proportionate share of the net pension liability $ 32,660,370 $ 27,136,758 $ 13,324,254 $ 6,399,917 Board's covered payroll $ 31,567,083 $ 29,517,681 $ 28,496,269 $ 27,856,637 Board's proportionate share of the net pension liability as a percentage of its covered payroll 103.46% 91.93% 46.76% 22.97% Plan fiduciary net position as a percentage of the total pension liability 83.89% 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 six years. E-1 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF THE BOARD'S CONTRIBUTIONS FLORIDA RETIREMENT SYSTEM PENSION PLAN LAST TEN FISCAL YEARS* 2017 2016 2015 2014 Contractually required contribution $ 3,169,065 $ 2,620,875 $ 2,515,082 2,297,567 Contributions in relation to the contractually required contributions (3,169,065) (2,620,875) (2,515,082) (2,297,567) Contribution deficiency (excess) $ - $ - $ - $ Board's covered payroll Contributions as a percentage of covered payroll $ 26,245,139 $ 29,517,681 $ 29,097,726 $ 28,100,694 12.07% 8.88% 8.64% 8.18% * The amounts presented for each fiscal year were determined as of September 30. No data is available for the previous six 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" 2017 2016 2015 2014 Board's proportion of the net pension liability 0.098952229% 0.095343347% 0.093902398% 0.093727524% Board's proportionate share of the net pension liability $ 10,580,429 $ 11,111,872 $ 9,576,567 $ 8,763,852 Board's covered payroll $ 31,567,083 $ 29,517,681 $ 28,496,269 $ 27,856,637 Board's proportionate share of the net pension liability as a percentage of its covered payroll 33.52% 37.64% 33.61 % 31.46% Plan fiduciary net position as a percentage of the total pension liability 1.64% 0.97% 0.50% 0.99% The amounts presented for each fiscal year were determined as of June 30. No data is available for the previous six years. E-3 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF THE BOARD'S CONTRIBUTIONS HEALTH INSURANCE SUBSIDY PROGRAM LAST TEN FISCAL YEARS* 2017 2016 2015 2014 Contractually required contribution $ 435,699 $ 488,695 $ 358,953 $ 321,079 Contributions in relation to the contractually required contributions (435,699) (488,695) (358,953) (321,079) Contribution deficiency (excess) $ - $ - $ - $ Board's covered payroll Contributions as a percentage of covered payroll $ 26,245,139 $ 29,517,681 $ 29,097,726 $ 28,100,964 1.66% 1.66% 1.23% 1.14% * The amounts presented for each fiscal year were determined as of September 30. No data is available for the previous six 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) 2017 2016 2015 2014 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 payroll County's total position liability as a percentage of covered payroll Notes to Schedule: $ 22,937 $ 16,394 $ 16,455 $ 18,434 9,146 8,895 8,054 12,219 (39,039) 33,108 89,397 (9,696) (32,265) (28,365) (30,855) (25,575) (39,221) 30,032 83,051 (4,618) 917,368 887,336 804,285 808,903 $ 878,147 $ 917,368 $ 887,336 $ 804,285 N/A N/A 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, 2017 TEN YEAR SCHEDULE OF EMPLOYER CONTRIBUTIONS PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES Year Ending December 31, 2016 2015 2014 2013 2012 Actuarially determined contribution $ 39,899 $ 30,304 $ 28,575 $ 36,788 $ 28,145 Contributions in relation to the actuarially determined contribution 39,899 30,304 28,575 36,788 28,145 Contribution deficiency (excess) $ - $ - $ - $ - $ - Covered payroll $ - $ - $ - $ - $ - Contributions as a percentage of covered 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 2011 2010 2009 2008 2007 $ 30,379 $ 28,914 $ 30,791 $ 28,477 $ 24,233 30,379 28,914 30,791 28,477 24,233 N/A N/A N/A N/A N/A E-7 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS REQUIRED SUPPLEMENTARY INFORMATION YEAR ENDED SEPTEMBER 30, 2017 OTHER POST EMPLOYMENT BENEFITS SCHEDULE OF BOARD'S FUNDING PROGRESS 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 /2014 $ - $ 100,105 $ 100,105 0% $ 70,326 142.34% 10/1/2015 - 96,096 96,096 0% 66,814 143.83% 10/1 /2016 - 81,245 81,245 0% 71,912 112.98% *Amounts expressed in thousands MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS REQUIRED SUPPLEMENTARY INFORMATION YEAR ENDED SEPTEMBER 30, 2017 OTHER POST EMPLOYMENT BENEFITS SCHEDULE OF BOARD'S EMPLOYER CONTRIBUTIONS Employer Contributions Annual Year Required Ended Contribution September 30 (ARC)* 2017 $ 4,637 2016 5,484 2015 6,466 *Amounts expressed in thousands Notes to the Required Schedule: Percentage of ARC Contributed 79% 70 % 46% The information presented in the required supplementary schedule was determined as part of the actuarial valuation as follows: Valuation Date 12/12/17 as of 10/1/16 Actuarial cost method Projected Unit Credit Amortization method Level of percentage of pay, open Remaining amortization period 30 years Asset valuation method Market Actuarial assumptions: Investment rate of return* 4.00% Medical cost trend rate 7.0% - 4.5% Year of ultimate trend rate 2020 *Includes inflation at 3.50% E-9 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, 2017 REVENUES: Taxes Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Capital Outlay: General Government Public Safety Physical Environment Transportation: Const. Mgmt. Human Services Culture and Recreation Total Capital Outlay Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Original Final Budget Budget $ 21,000,000 $ 21,000,000 $ 50,000 50,000 Variance with Final Budget Positive Actual (Negative) 21,510,929 $ 510,929 120,958 70,958 21,050,000 21,050,000 21,631,887 581,887 6,096,090 6,096,090 4,235,477 1,860,613 452,127 452,127 237,576 214,551 3,358,772 3,158,772 1,846,654 1,312,118 12,514,290 12,532,117 3,259,837 9,272,280 50,000 50,000 21,461 28,539 3,751,795 3,751,795 3,061,640 690,155 26,223,074 26,040,901 12,662,645 13,378,256 (5,173,074) (4,990,901) 8,969,242 13,960,143 Reserve for Contingencies (2,934,546) (416,719) - 416,719 Reserve for Cash Balance (839,178) (839,178) - 839,178 Transfers to Other Funds (12,486,920) (15,186,920) (11,886,490) 3,300,430 Total Other Financing Sources (Uses) (16,260,644) (16,442,817) (11,886,490) 4,556,327 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (21,433,718) 21,433,718 (21,433,718) 21,433,718 (2,917,248) 23,609,776 18,516,470 2,176,058 $ 20,692,528 $ 20,692,528 F-1 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, 2017 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 125,368 $ 125,368 Total Revenues - - 125,368 125,368 EXPENDITURES: Capital Projects - General Government 6,500,000 7,260,000 149,736 7,110,264 Capital Projects - Culture and Recreation 3,145,118 8,501,434 7,490,944 1,010,490 Capital Projects - Buildings 10,123,092 6,057,393 1,796,388 4,261,005 Total Expenditures 19,768,210 21,818,827 9,437,068 12,381,759 Excess/Deficiency of Revenues Over (Under) Expenditures (19,768,210) (21,818,827) (9,311,700) 12,507,127 Other Financing Sources (Uses): Reserve for Contingencies (2,262,573) (211,956) - 211,956 Issuance of Debt 1,143,118 1,143,118 - (1,143,118) Transfers from Other Funds 15,823,724 15,823,724 15,000,000 (823,724) Total Other Financing Sources (Uses) 14,704,269 16,754,886 15,000,000 (1,754,886) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (5,063,941) 5,063,941 (5,063,941) 5,063,941 5,688,300 7,241,902 10,752,241 2,177,961 $ 12,930,202 $ 12,930,202 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, 2017 REVENUES: Licenses and Permits Intergovernmental Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Capital Outlay: Physical Environment: Cudjoe Regional Wastewater Project County 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 $ 1,383,709 $ (891,691) 873,400 873,400 - - 131,480 131,480 2,275,400 2,275,400 2,388,589 113,189 3,000,000 3,000,000 - 3,000,000 14,724,600 14,724,600 17,217,601 (2,493,001) 25,000 25,000 - 25,000 144,499 144,499 118,471 26,028 17,894,099 17,894,099 17,336,072 558,027 Total Capital Outlay Expenditures 17,894,099 17,894,099 17,336,072 558,027 Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Reserve for Contingencies 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 Fund Balances, October 1 Fund Balances, September 30 (15,618,699) (15,618,699) (14,947,483) 671,216 (199,423) (199,423) - 199,423 14,724,600 14,724,600 25,397,527 10,672,927 3,000,000 3,000,000 - (3,000,000) (21,000,000) (21,000,000) (15,000,000) 6,000,000 - - 3,119 3,119 (3,474,823) (3,474,823) 10,400,646 13,875,469 (19,093,522) (19,093,522) (4,546,837) 14,546,685 19,093,522 19,093,522 23,345,841 4,252,319 - $ 18,799,004 $ 18,799,004 F-3 This page is intentionally left blank. 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, 2017 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 5,100 $ 5,100 $ 47,080 $ 41,980 Total Revenues 5,100 5,100 47,080 41,980 EXPENDITURES: Current: Debt Service: 2007 Revenue Bonds Principal 3,295,000 3,295,000 3,295,000 Interest 337,000 423,125 423,125 Other Debt Service Costs 300 300 300 Total 2007 Revenue Bonds 3,632,300 3,718,425 3,718,425 Clean Water SRF Loan Principal 915,624 915,624 477,373 438,251 Interest 204,566 204,566 204,565 1 Total Clean Water SRF Loan 1,120,190 1,120,190 681,938 438,252 2014 Revenue Bonds Principal 3,555,000 3,555,000 3,555,000 Interest 728,886 728,886 728,886 Total 2014 Revenue Bonds 4,283,886 4,283,886 4,283,886 PNC Line of Credit Interest 854,116 854,116 - 854,116 Total PNC Line of Credit 854,116 854,116 - 854,116 Mayfield Loan Principal - 1,000,000 1,000,000 Total Mayfield Loan - 1,000,000 1,000,000 2016 Revenue Bonds Principal - 100,000 100,000 - Interest - 272,162 137,258 134,904 Other Debt Service Costs - - (36,367) 36,367 Total2016 Revenue Bonds - 372,162 200,891 171,271 (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, 2017 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Total Expenditures 9,890,492 11,348,779 9,885,140 1,463,639 Excess/Deficiency of Revenues Over (Under) Expenditures (9,885,392) (11,343,679) (9,838,060) 1,505,619 Other Financing Sources (Uses): Reserve for Contingencies (1,000,000) (913,875) - 913,875 Reserve for Cash Balance (1,000,000) (1,000,000) - 1,000,000 Transfers from Other Funds 9,890,492 11,262,654 9,890,000 (1,372,654) Total Other Financing Sources (Uses) 7,890,492 9,348,779 9,890,000 541,221 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (1,994,900) (1,994,900) 51,940 2,046,840 1,994,900 1,994,900 2,565,479 570,579 $ 2,617,419 $ 2,617,419 F-5 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2017 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 $ 54,386 $ 856,883 $ 1,178,509 $ 1,863,802 Investments 336,820 4,708,491 6,873,760 10,369,491 Accounts Receivable, Net - - 1,612 - Assessments Receivable - - - - Due from Other Funds - - - - Due from Other Governmental Units - - - - Due from Constitutional Officers - 619,130 1,260,236 986,229 Mortgages/Notes Receivable - - - - Allowance for Mortgages/Notes Receivable - - - - Advances to Other Governments - - - - Interest Receivable 1,007 12,976 19,802 20,538 Total Assets $ 392,213 $ 6,197,480 $ 9,333,919 $ 13,240,060 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ - $ 877,338 $ 1,057,479 $ 874,176 Retainage Payable - - - - Accrued Wages and Benefits Payable - - 2,607 3,478 Due to Other Funds - - - - Due to Other Governmental Units - - 57,856 82,997 Due to Constitutional Officers - - - - Other Current Liabilities - - 1,103 - Deposits in Escrow - - - - Total Liabilities - 877,338 1,119,045 960,651 Deferred Inflows of Resources: Unavailable Revenues - - - - Total Deferred Inflows of Resources - - - - Fund Balances: Nonspendable - - - - Restricted 392,213 5,320,142 8,214,874 12,066,751 Committed - - - 212,658 Assigned - - - - Unassigned - - - - Total Fund Balances 392,213 5,320,142 8,214,874 12,279,409 Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 392,213 $ 6,197,480 $ 9,333,919 $ 13,240,060 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 $ 195,296 $ 486,033 $ 275,686 $ 311,120 $ 196,988 $ 89,914 839,893 3,001,857 1,680,929 1,836,724 1,219,983 556,853 129,480 307,047 192,258 264,352 - - 1,784 5,163 3,561 3,622 6,843 1,483 $ 1,166,453 $ 3,800,100 $ 2,152,434 $ 2,415,818 $ 1,423,814 $ 648,250 $ 187,106 $ 239,714 $ 176,983 $ 527,807 $ - $ - - - - 2,500 - - 1,633 - - 3,033 - - 96 21,184 4,989 481 - - 188,835 260,898 181,972 533,821 - - 977,618 3,539,202 1,970,462 1,881,997 1,423,814 648,250 977,618 3,539,202 1,970,462 1,881,997 1,423,814 648,250 $ 1,166,453 $ 3,800,100 $ 2,152,434 $ 2,415,818 $ 1,423,814 $ 648,250 (Continued) G-2 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING BALANCE SHEET (CONTINUED) NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2017 SPECIAL Impact Fees, Impact Fees, Impact Fees, Impact Fees, Libraries Solid Waste Police Facilities Fire & EMS ASSETS Cash and Cash Equivalents $ 157,615 $ 13,808 $ 17,309 $ 13,493 Investments 976,137 85,515 107,199 83,570 Accounts Receivable, Net 1,379 - - - 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 2,688 211 203 183 Total Assets $ 1,137,819 $ 99,534 $ 124,711 $ 97,246 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: Unavailable Revenues - - - - Deferred Inflows of Resources - - - - Fund Balances: Nonspendable - - - - Restricted 1,137,819 99,534 124,711 97,246 Committed - - - - Assigned - - - - Unassigned - - - - Total Fund Balances 1,137,819 99,534 124,711 97,246 Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 1,137,819 $ 99,534 $ 124,711 $ 97,246 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 $ 6,088 $ 662,012 $ - $ 141,324 $ 1,531,273 $ 272,346 37,703 4,602,280 - 683,205 8,363,631 1,686,687 - 15,271 - - 181 - - 9,065 - - 166,315 - - 185,735 - 25,069 4,644 265,259 701 17,316 1,837 2,738 23,643 4,746 $ 44,492 $ 5,491,679 $ 1,837 $ 852,336 $ 10,089,687 $ 2,229,038 $ - $ 113,823 $ 320 $ 92,167 $ 63,000 $ - - 355,402 - 21,459 172,514 - - - 1,517 - - - - 641 - 6,014 1,365 - - 803 - - 566 - - - - 7,444 174,219 - - 470,669 1,837 127,084 411,664 - 44,492 - - 725,252 9,678,023 2,229,038 - 5,021,010 - - - - 44,492 5,021,010 - 725,252 9,678,023 2,229,038 $ 44,492 $ 5,491,679 $ 1,837 $ 852,336 $ 10,089,687 $ 2,229,038 (Continued) G-4 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING BALANCE SHEET (CONTINUED) NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2017 SPECIAL 911 Duck Key Local Enhancement Security Housing Boating Fees District Assistance Improvement ASSETS Cash and Cash Equivalents $ 17,951 $ 57,159 $ 220,827 $ 402,570 Investments 109,425 322,904 1,367,623 2,400,540 Accounts Receivable, Net - - - - Assessments Receivable - - - - Due from Other Funds - - - - Due from Other Governmental Units - - - - Due from Constitutional Officers - 6 - 21,202 Mortgages/Notes Receivable - - 8,235,695 - Allowance for Mortgages/Notes Receivable - - (8,235,695) - Advances to Other Governments - - - - Interest Receivable - 1,036 3,603 6,670 Total Assets $ 127,376 $ 381,105 $ 1,592,053 $ 2,830,982 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ - $ 11,639 $ 78,352 $ 28,994 Retainage Payable - - - - Accrued Wages and Benefits Payable - - - 2,259 Due to Other Funds - - - - Due to Other Governmental Units - - - - Due to Constitutional Officers 127,182 - - - Other Current Liabilities - - - - Deposits in Escrow - - - - Total Liabilities 127,182 11,639 78,352 31,253 Deferred Inflows of Resources: Unavailable Revenues - - - - Deferred Inflows of Resources - - - - Fund Balances: Nonspendable - - - - Restricted 194 369,466 1,513,701 2,799,729 Committed - - - - Assigned - - - - Unassigned - - - - Total Fund Balances 194 369,466 1,513,701 2,799,729 Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 127,376 $ 381,105 $ 1,592,053 $ 2,830,982 G-5 REVENUE FUNDS Miscellaneous Law Court Drug Marathon Special Environmental Enforcement Facility Abuse Municipal Revenue Restoration Trust Fees Trust Service $ 427,329 $ 321,400 $ 101,589 $ 490,273 $ 12,211 $ 354 2,609,902 1,974,477 500,682 2,996,047 75,626 2,197 1,731 - - - - - 68,699 - 30,265 61,107 3,663 11 6,952 4,830 1,514 7,435 324 8 $ 3,114,613 $ 2,300,707 $ 634,050 $ 3,554,862 $ 91,824 $ 2,570 $ 16,151 $ 1,105 $ - $ 5,543 $ 6,346 $ - 1,367 2,586 - 2,852 - - 21,360 - - - - - 38,878 3,691 - 8,395 6,346 - 3,075,735 - 634,050 3,546,467 85,478 2,570 - 21297,016 - - - 3,075,735 2,297,016 634,050 3,546,467 85,478 2,570 $ 3,114,613 $ 2,300,707 $ 634,050 $ 3,554,862 $ 91,824 $ 2,570 (Continued) G-6 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING BALANCE SHEET (CONTINUED) NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2017 SPECIAL Bay Point Big Coppitt Key Largo Wastewater Wastewater Wastewater Stock Island MSTU MSTU MSTU Wastewater ASSETS Cash and Cash Equivalents $ 6,433 $ 84 $ 922 $ 156,648 Investments 39,844 520 5,712 993,799 Accounts Receivable, Net - - - - Assessments Receivable - - - 229,205 Due from Other Funds - - - - Due from Other Governmental Units - - - - Due from Constitutional Officers - - - 521 Mortgages/Notes Receivable - - - - Allowance for Mortgages/Notes Receivable - - - - Advances to Other Governments - - - - Interest Receivable 128 3 19 1,997 Total Assets $ 46,405 $ 607 $ 6,653 $ 1,382,170 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ - $ - $ - $ 8,792 Retainage Payable - - - - Accrued Wages and Benefits Payable - - - 33 Due to Other Funds - - - - Due to Other Governmental Units - - - - Due to Constitutional Officers - - - - Other Current Liabilities - - - - Deposits in Escrow - - - - Total Liabilities - - - 8,825 Deferred Inflows of Resources: Unavailable Revenues - - - 777,618 Deferred Inflows of Resources - - - 777,618 Fund Balances: Nonspendable - - - - Restricted - - - 595,727 Committed 46,405 607 6,653 - Assigned - - - - Unassigned - - - - Total Fund Balances 46,405 607 6,653 595,727 Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 46,405 $ 607 $ 6,653 $ 1,382,170 G-7 REVENUE FUNDS Long Key, Conch Key Layton Duck Key Building Road and MSTU MSTU MSTU Fund Bridge $ 67 $ 35,985 $ 8,228 $ 709,836 $ 2,063,350 413 223,026 50,958 3,339,445 12,284,174 - - - - 622,303 - 361 164 8,547 31,485 $ 480 $ 259,372 $ 59,350 $ 4,057,828 $ 15,001,312 $ - $ 277 $ 1,088 $ 206,010 $ 209,380 - - - - 13,359 - 33 - 108,544 67,379 - - - 48 46,893 - - - - 226 - - - 8,110 - - 310 1,088 322,712 337,237 - - - 3,735,116 14,664,075 480 259,062 58,262 - - 480 259,062 58,262 3,735,116 14,664,075 $ 480 $ 259,372 $ 59,350 $ 4,057,828 $ 15,001,312 (Continued) G-8 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING BALANCE SHEET (CONTINUED) NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2017 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: 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 $ 13,357,101 $ 24,480 $ 1,377,880 77,348,042 80,454 - 20,174 - - 229,205 - - 797,683 - - 4,424,913 - - 8,235,695 - - (8,235,695) - - 206,121 253 - $ 96,383,239 $ 105,187 $ 1,377,880 $ 4,783,590 $ - $ 12,493 15,859 - - 745,179 - - 1,517 - 173,028 222,564 - - 148, 542 - - 2,698 - - 189,773 - - 6,109,722 - 185,521 777,618 - - 777,618 - - 81,593,746 105,187 1,192, 359 2,881,143 - - 5,021,010 - - 89,495,899 105,187 1,192,359 $ 96,383,239 $ 105,187 $ 1,377,880 G-9 PROJECT FUNDS Total Big Coppitt Duck Key Long Key Land Nonmajor Wastewater Wastewater Wastewater Acquisition Governmental Project Project Project Fund Funds $ 373,394 $ 24,608 $ 41,914 $ 791,366 $ 15,990,743 1,498,365 128,958 259,581 4,901,062 84,216,462 - - - - 20,174 2,458,737 545,883 - - 3,233,825 - - 881,644 - 1,679,327 1,297 275 - - 4,426,485 - - - - 8,235,695 - - - - (8,235,695) 6,499 4,809 393 3,595 221,670 $ 4,338,292 $ 704,533 $ 1,183,532 $ 5,696,023 $ 109,788,686 $ 4,496 $ 5,026 $ 350,197 $ 9,241 $ 5,165,043 - - - - 15,859 33 26 - - 745,238 1,900,000 - - - 2,074,545 - - - - 222,564 - - - - 148,542 - - - - 2,698 - - - - 189,773 1,904,529 5,052 350,197 9,241 8,564,262 2,395,875 533,437 - - 3,706,930 2,395,875 533,437 - - 3,706,930 37,888 166,044 833,335 5,686,782 89,615,341 - - - - 2,881,143 - - - - 5,021,010 37,888 166,044 833,335 5,686,782 97,517,494 $ 4,338,292 $ 704,533 $ 1,183,532 $ 5,696,023 $ 109,788,686 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, 2017 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 $ - $ 5,943,594 $ 12,316,296 $ 9,931,895 1,943 30,802 45,363 67,642 1,943 5,974,396 12,361,659 9,999,537 - 6,443,096 12,890,699 8,006,821 - 6,443,096 12,890,699 8,006,821 1,943 (468,700) (529,040) 1,992,716 - (58,182) (39,610) (59,799) - 105,663 196,231 164,955 - 47,481 156,621 105,156 1,943 (421,219) (372,419) 2,097,872 390,270 5,741,361 8,587,293 10,181,537 $ 392,213 $ 5,320,142 $ 8,214,874 $ 12,279,409 G-11 REVENUE FUNDS Tourist Development District Two $ 1,200,478 $ 5,515 1,205,993 Tourist Development District Three 2,848,466 $ 18,969 2,867,435 Tourist Development District Four 1,908,747 $ 11,003 1,919,750 Tourist Development Impact Fees, District Five Roadways 2,370,304 $ - $ - 119,198 12,462 10,166 2,382,766 129,364 Impact Fees, Parks, and Recreation 46,920 3,113 50,033 1,075,056 2,030,249 1,549,816 2,399,850 - - - - - - - 25,400 1,075,056 2,030,249 1,549,816 2,399,850 - 25,400 130,937 837,186 369,934 (17,084) 129,364 24,633 (23,290) (16,356) (12,023) (37,424) (77,483) - 19,653 47,095 31,669 38,522 - - (3,637) 30,739 19,646 1,098 (77,483) - 127,300 867,925 389,580 (15,986) 51,881 24,633 850,318 2,671,277 1,580,882 1,897,983 1,371,933 623,617 $ 977,618 $ 3,539,202 $ 1,970,462 $ 1,881,997 $ 1,423,814 $ 648,250 (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, 2017 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 50,120 9,938 21,572 15,223 5,617 490 609 476 55,737 10,428 22,181 15,699 55,737 10,428 22,181 15,699 55,737 10,428 22,181 15,699 1,082,082 89,106 102,530 81,547 $ 1,137,819 $ 99,534 $ 124,711 $ 97,246 G-13 NAV=1kql1J=1all kqIIR Impact Fees, Employee Fair Share Housing Fire & Amb District #1, Lower and Middle Keys Upper Keys Health Care Special Taxing District Unincorp. Area Service District, Parks & Rec. Unincorp. Area Service Dist., Planning Bldg. & Zoning Municipal Policing $ - $ 10,013,153 $ - $ 1,624,615 $ 610,480 $ 3,836,888 19,201 - - - - - - 146,548 - 6,252 1,806,500 - - 656,238 - 57,149 2,773,167 3,780,045 - - - - 1,562,516 - 230 48,236 1,525 7,417 57,855 17,186 - 223,887 - 42,714 252 - 19,431 11,088,062 1,525 1,738,147 6,810,770 7,634,119 - 488,532 - - 2,568,867 187,639 - 10,130,176 - - 2,514,788 7,883,326 - - - - 768,953 - - - 853,703 - - - - - - 1,841,919 - - - 10,618,708 853,703 1,841,919 5,852,608 8,070,965 19,431 469,354 (852,178) (103,772) 958,162 (436,846 - (908,519) - (162,768) (1,565,679) (11,514) - 183,438 - 24,818 4,544 264,674 - (725,081) - (137,950) (1,561,135) 253,160 19,431 (255,727) (852,178) (241,722) (602,973) (183,686) 25,061 5,276,737 852,178 966,974 10,280,996 2,412,724 $ 44,492 $ 5,021,010 $ - $ 725,252 $ 9,678,023 $ 2,229,038 (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, 2017 SPECIAL 911 Duck Key Local Enhancement Security Housing Boating Fees District Assistance Improvement Revenues: Taxes $ - $ - $ - $ - Licenses and Permits - 84,144 - - Intergovernmental - - 486,419 29,622 Charges for Services 461,354 - - 757,113 Fines and Forfeitures - - - - Investment Income - 1,967 9,141 13,292 Miscellaneous - - 300,730 7,411 Total Revenues 461,354 86,111 796,290 807,438 Expenditures: Current: General Government - 1,000 - - Public Safety 461,354 130,796 - - Physical Environment - - - 520,496 Transportation - - - - Economic Environment - - 403,570 - Human Services - - - - Culture and Recreation - - - - Court Related - - - - Capital Projects - - - - Total Expenditures 461,354 131,796 403,570 520,496 Excess/Deficiency of Revenues Over (Under) Expenditures - (45,685) 392,720 286,942 Other Financing Sources (Uses): Transfers from Other Funds - - - 86,462 Transfers to Other Funds - - - (109,265) Transfers from Constitutional Officers - - - - Total Other Financing Sources (Uses) - - - (22,803) Net Change in Fund Balances - (45,685) 392,720 264,139 Fund Balances -October 1 194 415,151 1,120,981 2,535,590 Fund Balances -September 30 $ 194 $ 369,466 $ 1,513,701 $ 2,799,729 G-15 REVENUE FUNDS Miscellaneous Special Revenue Law Environmental Enforcement Restoration Trust Court Facility Fees Drug Marathon Abuse Municipal Trust Service $ - $ - $ - $ - $ - $ 17 102,629 - - - - - 372,610 - - 480,710 31,080 - 226,818 881,208 - - - - 15,717 11,651 2,874 17,616 445 710 2,600 - - - - - 720,374 892,859 2,874 498,326 31,525 727 5,953 - - - - - 195,624 - 39,075 - - - - 205,263 - - - 21 23,409 - - - 59,857 - 10,508 - - - - - 199,412 - - 173,569 - - 434,906 205,263 39,075 173,569 59,857 21 285,468 687,596 (36,201) 324,757 (28,332) 706 - (28,788) - - - - - - 30,262 - - 11 - (28,788) 30,262 - - 11 285,468 658,808 (5,939) 324,757 (28,332) 717 2,790,267 1,638,208 639,989 3,221,710 113,810 1,853 $ 3,075,735 $ 2,297,016 $ 634,050 $ 3,546,467 $ 85,478 $ 2,570 (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, 2017 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 $ - $ - $ 14 $ - - - - 27,391 230 2 33 14,721 - - - 3,562 230 2 47 45,674 - - - 1,000 - - - 125,503 - - - 126,503 230 2 47 (80,829) - - - 520 - - - 520 230 2 47 (80,309) 46,175 605 6,606 676,036 $ 46,405 $ 607 $ 6,653 $ 595,727 G-17 REVENUE FUNDS Long Key, Conch Key Layton Duck Key Building Road and MSTU MSTU MSTU Fund Bridge $ - $ - $ - $ - $ 2,544,792 - 4,594 - 4,506,290 - - - - - 3,956,582 - - - 112,964 35,195 2 1,283 300 22,894 74,384 - - - 20,825 30,675 2 5,877 300 4,662,973 6,641,628 - - - 4,447,992 - - 4,235 4,351 - - - - - - 4,516,946 - 4,235 4,351 4,447,992 4,516,946 2 1,642 (4,051) 214,981 2,124,682 - - - - 77,483 - - - (509,033) (520,047) - - - (509,033) (442,564) 2 1,642 (4,051) (294,052) 1,682,118 478 257,420 62,313 4,029,168 12,981,957 $ 480 $ 259,062 $ 58,262 $ 3,735,116 $ 14,664,075 (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, 2017 CAPITAL Total Nonmajor Clerk's Infrastructure Special Rev Revenue Revenue Bonds Funds Note Series 2007 Revenues: Taxes $ 55,149,739 $ - $ - Licenses and Permits 5,007,220 - - Intergovernmental 6,431,923 - - Charges for Services 9,517,625 - - Fines and Forfeitures 2,670,542 - - Investment Income 533,881 530 7,847 Miscellaneous 632,656 - - Total Revenues 79,943,586 530 7,847 Expenditures: Current: General Government 3,252,991 - - Public Safety 25,803,131 - - Physical Environment 1,628,822 - - Transportation 4,516,946 - - Economic Environment 34,799,157 - - Human Services 936,969 - - Culture and Recreation 1,877,827 - - Court Related 372,981 - - Capital Projects - - 26,692 Total Expenditures 73,188,824 - 26,692 Excess/Deficiency of Revenues - Over (Under) Expenditures 6,754,762 530 (18,845) Other Financing Sources (Uses): Transfers from Other Funds 163,945 - - Transfers to Other Funds (4,139,780) - - Transfers from Constitutional Officers 1,112,055 - - Total Other Financing Sources (Uses) (2,863,780) - - Net Change in Fund Balances 3,890,982 530 (18,845) Fund Balances -October 1 85,604,917 104,657 1,211,204 Fund Balances -September 30 $ 89,495,899 $ 105,187 $ 1,192,359 G-19 PROJECT FUNDS Big Coppitt Wastewater Project 269,111 89,417 35,352 _ 393,880 Duck Key Long Key Wastewater Wastewater Project Project 59,900 - 10,174 1,496 3,756 - _ 73,830 1,496 Total Land Nonmajor Acquisition Governmental Fund Funds - $ 55,149,739 - 5,336,231 - 6,431,923 - 9,517,625 - 2,670,542 33,538 676,883 - 671,764 33,538 80,454,707 - - - - 3,252,991 - - - - 25,803,131 - - - - 1,628,822 - - - - 4,516,946 - - - - 34,799,157 - - - - 936,969 - - - - 1,877,827 - - - - 372,981 20,795 6,583 630,198 346,756 1,031,024 20,795 6,583 630,198 346,756 74,219,848 373,085 67,247 (628,702) (313,218) 6,234,859 - - - - 163,945 (681,938) - - - (4,821,718) 1,286 273 - - 1,113,614 (680,652) 273 - - (3,544,159) (307,567) 67,520 (628,702) (313,218) 2,690,700 345,455 98,524 1,462,037 6,000,000 94,826,794 $ 37,888 $ 166,044 $ 833,335 $ 5,686,782 $ 97,517,494 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, 2017 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 $ 1,943 $ 843 1,100 1,100 1,943 843 290,000 290,000 290,000 290,000 (288,900) (288,900) 290,000 290,000 1,943 290,843 Reserve for Contingencies (9,387) (9,387) - 9,387 Reserve for Cash Balance (13,528) (13,528) - 13,528 Total Other Financing Sources (Uses) (22,915) (22,915) - 22,915 Net Change in Fund Balances (311,815) (311,815) 1,943 313,758 Fund Balances, October 1 311,815 311,815 390,270 78,455 Fund Balances, September 30 $ - $ - $ 392,213 $ 392,213 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, 2017 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) $ 5,859,000 $ 5,859,000 $ 5,943,594 $ 84,594 - - 30,802 30,802 5,859,000 5,859,000 5,974,396 115,396 1,488,227 1,488,227 1,177,135 311,092 1,175,500 1,175,500 978,484 197,016 1,100,000 1,100,000 1,031,237 68,763 3,505,811 3,505,811 2,280,890 1,224,921 1,827,833 1,827,833 - 1,827,833 1,429,864 1,429,864 975,350 454,514 10,527,235 10,527,235 6,443,096 4,084,139 4,668,235) (4,668,235) (468,700) 4,199,535 Other Financing Sources (Uses): Transfers to Other Funds (58,182) (58,182) (58,182) - Transfers from Constitutional Officers - - 105,663 105,663 Total Other Financing Sources (Uses) (58,182) (58,182) 47,481 105,663 Net Change in Fund Balances (4,726,417) (4,726,417) (421,219) 4,305,198 Fund Balances, October 1 4,726,417 4,726,417 5,741,361 1,014,944 Fund Balances, September 30 $ - $ - $ 5,320,142 $ 5,320,142 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, 2017 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 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) $ 12,141,000 $ 12,141,000 $ 12,316,296 $ 175,296 - - 45,363 45,363 12,141,000 12,141,000 12,361,659 220,659 11,751,367 11,751,367 10,614,766 1,136,601 1,321,418 1,321,418 897,245 424,173 2,272,167 2,272,167 - 2,272,167 1,379,428 1,379,428 1,378,688 740 16,724,380 16,724,380 12,890,699 3,833,681 (4,583,380) (4,583,380) (529,040) 4,054,340 (39,610) (39,610) (39,610) - 196,231 196,231 (39,610) (39,610) 156,621 196,231 (4,622,990) (4,622,990) (372,419) 4,250,571 4,622,990 4,622,990 8,587,293 3,964,303 $ 8,214,874 $ 8,214,874 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, 2017 REVENUES: Taxes Investment Income Total Revenues EXPENDITURES: Current: Economic Environment: Advertising and Promotion Administrative Services Special Events Bricks and Mortar Information Services Beaches Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 10,090,800 $ 10,090,800 $ 9,931,895 $ (158,905) - - 67,642 67,642 10,090,800 10,090,800 9,999,537 (91,263) 6,061,967 6,026,967 418,257 418,257 585,543 620,543 8,111,833 8,111,833 383,761 383,761 314,047 314,047 5,732,526 294,441 3,666 414,591 339,640 280,903 1,547,229 6,564,604 383,760 1 - 314,047 15,875,408 15,875,408 8,006,821 7,868,587 5,784,608) (5,784,608) 1,992,716 7,777,324 Other Financing Sources (Uses): Transfers to Other Funds (59,799) (59,799) (59,799) - Transfers from Constitutional Officers - - 164,955 164,955 Total Other Financing Sources (Uses) (59,799) (59,799) 105,156 164,955 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (5,844,407) (5,844,407) 2,097,872 7,942,279 5,844,407 5,844,407 10,181,537 4,337,130 - $ 12,279,409 $ 12,279,409 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, 2017 REVENUES: Taxes Investment Income Total Revenues EXPENDITURES: Current: Economic Environment: Advertising and Promotion Administrative Services Special Events Bricks and Mortar Information Services Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 1,067,400 $ 1,067,400 $ 1,200,478 $ 133,078 - - 5,515 5,515 1,067,400 1,067,400 1,205,993 138,593 840,316 840,316 826,532 13,784 21,323 21,323 516 20,807 506,407 506,407 152,248 354,159 95,760 95,760 95,760 - 1,463,806 1,463,806 1,075,056 388,750 (396,406) (396,406) 130,937 527,343 Other Financing Sources (Uses): Transfers to Other Funds (23,290) (23,290) (23,290) - Transfers from Constitutional Officers - - 19,653 19,653 Total Other Financing Sources (Uses) (23,290) (23,290) (3,637) 19,653 Net Change in Fund Balances (419,696) (419,696) 127,300 546,996 Fund Balances, October 1 419,696 419,696 850,318 430,622 Fund Balances, September 30 $ - $ - $ 977,618 $ 977,618 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, 2017 REVENUES: Taxes Investment Income Total Revenues EXPENDITURES: Current: Economic Environment: Advertising and Promotion Administrative Services Special Events Bricks and Mortar Information Services Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 2,705,400 $ 2,705,400 $ 2,848,466 $ 143,066 - - 18,969 18,969 2,705,400 2,705,400 2,867,435 162,035 1,708,028 1,708,028 1,692,741 15,287 116,557 116,557 1,347 115,210 31,889 31,889 14,800 17,089 2,389,558 2,389,558 153,361 2,236,197 168,000 168,000 168,000 - 4,414,032 4,414,032 2,030,249 2,383,783 (1,708,632) (1,708,632) 837,186 2,545,818 Other Financing Sources (Uses): Transfers to Other Funds (16,356) (16,356) (16,356) - Transfers from Constitutional Officers - - 47,095 47,095 Total Other Financing Sources (Uses) (16,356) (16,356) 30,739 47,095 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (1,724,988) (1,724,988) 867,925 2,592,913 1,724,988 1,724,988 2,671,277 946,289 $ 3,539,202 $ 3,539,202 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, 2017 REVENUES: Taxes Investment Income Total Revenues EXPENDITURES: Current: Economic Environment: Advertising and Promotion Administrative Services Special Events Bricks and Mortar Information Services Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 1,927,800 $ 1,927,800 $ 1,908,747 $ (19,053) - - 11,003 11,003 1,927,800 1,927,800 1,919,750 (8,050) 1,337,784 1,337,784 1,217,094 120,690 67,153 67,153 1,109 66,044 150,030 150,030 73,418 76,612 914,722 914,722 100,695 814,027 157,500 157,500 157,500 - 2,627,189 2,627,189 1,549,816 1,077,373 (699,389) (699,389) 369,934 1,069,323 Other Financing Sources (Uses): Transfers to Other Funds (12,023) (12,023) (12,023) - Transfers from Constitutional Officers - - 31,669 31,669 Total Other Financing Sources (Uses) (12,023) (12,023) 19,646 31,669 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (711,412) (711,412) 389,580 1,100,992 711,412 711,412 1,580,882 869,470 $ 1,970,462 $ 1,970,462 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, 2017 REVENUES: Taxes Investment Income Total Revenues EXPENDITURES: Current: Economic Environment: Advertising and Promotion Administrative Services Information Services Special Events Bricks and Mortar Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 2,208,600 $ 2,208,600 $ 2,370,304 $ 161,704 - - 12,462 12,462 2,208,600 2,208,600 2,382,766 174,166 1,811,946 1,811,946 1,681,297 130,649 60,661 60,661 540 60,121 149,100 149,100 149,100 - 163,091 163,091 84,723 78,368 1,047,259 1,047,259 484,190 563,069 3,232,057 3,232,057 2,399,850 832,207 (1,023,457) (1,023,457) (17,084) 1,006,373 Other Financing Sources (Uses): Transfers to Other Funds (37,424) (37,424) (37,424) - Transfers from Constitutional Officers - - 38,522 38,522 Total Other Financing Sources (Uses) (37,424) (37,424) 1,098 38,522 Net Change in Fund Balances (1,060,881) (1,060,881) (15,986) 1,044,895 Fund Balances, October 1 1,060,881 1,060,881 1,897,983 837,102 Fund Balances, September 30 $ - $ - $ 1,881,997 $ 1,881,997 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, 2017 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) $ 87,000 $ 87,000 $ 119,198 $ 32,198 9,665 9,665 10,166 501 96,665 96,665 129,364 32,699 280,416 280,416 - 280,416 929,520 929,520 - 929,520 37,128 37,128 - 37,128 1,247,064 1,247,064 - 1,247,064 (1,150,399) (1,150,399) 129,364 1,279,763 Other Financing Sources (Uses): Transfers to Other Funds (77,483) (77,483) (77,483) Total Other Financing Sources (Uses) (77,483) (77,483) (77,483) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (1,227,882) (1,227,882) 51,881 1,279,763 1,227,882 1,227,882 1,371,933 144,051 $ 1,423,814 $ 1,423,814 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, 2017 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) $ 35,800 $ 35,800 $ 46,920 $ 11,120 1,200 1,200 3,113 1,913 37,000 37,000 50,033 13,033 139,541 139,541 - 139,541 243,713 243,713 - 243,713 154,393 154,393 - 154,393 18,656 18,656 - 18,656 6,645 6,645 - 6,645 25,400 25,400 25,400 - 588,348 588,348 25,400 562,948 (551,348) (551,348) 24,633 575,981 (551,348) (551,348) 24,633 575,981 551,348 551,348 623,617 72,269 $ 648,250 $ 648,250 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, 2017 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 $ 50,120 $ 20,120 2,700 2,700 5,617 2,917 32,700 32,700 55,737 23,037 1,081,827 1,081,827 - 1,081,827 25,000 25,000 - 25,000 1,106,827 1,106,827 - 1,106,827 (1,074,127) (1,074,127) 55,737 1,129,864 (1,074,127) (1,074,127) 55,737 1,129,864 1,074,127 1,074,127 1,082,082 7,955 $ 1,137,819 $ 1,137,819 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, 2017 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) $ 9,300 $ 9,300 $ 9,938 $ 638 150 150 490 340 9,450 9,450 10,428 978 98,957 98,957 - 98,957 98,957 98,957 - 98,957 (89,507) (89,507) 10,428 99,935 (89,507) (89,507) 10,428 99,935 89,507 89,507 89,106 (401) 99,534 $ 99,534 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, 2017 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) $ 24,000 $ 24,000 $ 21,572 $ (2,428) 200 200 609 409 24,200 24,200 22,181 (2,019) 115,152 115,152 - 115,152 115,152 115,152 - 115,152 (90,952) (90,952) 22,181 113,133 (90,952) (90,952) 22,181 113,133 Fund Balances, October 1 90,952 90,952 102,530 11,578 Fund Balances, September 30 $ - $ - $ 124,711 $ 124,711 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, 2017 REVENUES: Licenses and Permits Investment Income Total Revenues EXPENDITURES: Current: Public Safety: District 1 Fire & EMS Project District 2 Fire & EMS Project District 3 Fire & EMS Project Key Colony Beach Fire & EMS 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) $ 15,700 $ 15,700 $ 15,223 $ (477) 130 130 476 346 15,830 15,830 15,699 (131) 44,223 44,223 - 44,223 1,360 1,360 - 1,360 50,282 50,282 - 50,282 1,173 1,173 - 1,173 97,038 97,038 - 97,038 (81,208) (81,208) 15,699 96,907 (81,208) (81,208) 15,699 96,907 81,208 81,208 81,547 339 97,246 $ 97,246 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, 2017 REVENUES: Licenses and Permits Investment Income Total Revenues EXPENDITURES: Current: Economic Environment: District 1 Employee Fair Share Housing District 3 Employee Fair Share Housing Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 10,000 $ 10,000 $ 19,201 $ 9,201 275 275 230 (45) 10,275 10,275 19,431 9,156 10,275 10,275 19,431 9,156 Other Financing Sources (Uses): Reserve for Contingencies - - Reserve for Cash Balance - - Transfers to Other Funds (51,572) (51,572) Total Other Financing Sources (Uses) (51,572) (51,572) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (41,297) (41,297) 51,572 51,572 19,431 60,728 41,297 41,297 25,061 (16,236) $ - $ - $ 44,492 $ 44,492 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, 2017 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) $ 10,360,773 $ 10,360,773 $ 10,013,153 $ (347,620) 32,000 32,000 146,548 114,548 640,000 640,000 656,238 16,238 25,000 25,000 48,236 23,236 - - 223,887 223,887 11,057,773 11,057,773 11,088,062 30,289 315,773 315,773 293,441 22,332 208,471 208,471 195,091 13,380 524,244 524,244 488,532 35,712 10,770,871 10,770,871 10,130,176 640,695 10,770,871 10,770,871 10,130,176 640,695 11,295,115 11,295,115 10,618,708 676,407 (237,342) (237,342) 469,354 706,696 (518,577) (518,577) - 518,577 (1,980,963) (1,980,963) - 1,980,963 (908,519) (908,519) (908,519) - 170,000 170,000 183,438 13,438 (3,238,059) (3,238,059) (725,081) 2,512,978 (3,475,401) 3,475,401 (3,475,401) 3,475,401 (255,727) 5,276,737 3,219,674 1,801,336 $ 5,021,010 $ 5,021,010 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, 2017 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): Reserve for Contingencies Reserve for Cash Balance 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) $ 3,000 $ 4,000 $ 1,525 $ (2,475) 3,000 4,000 1,525 (2,475) 16,281 855,978 200,000 - 2,000 - 100 - 853,703 2,275 218,381 855,978 853,703 2,275 (215,381) (851,978) (852,178) (200) (29,000) - - - (37,142) - - - (18,641) - - - (84,783) - - - (300,164) (851,978) (852,178) (200) 300,164 851,978 852,178 200 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, 2017 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 $ 1,624,615 $ (38,110) - - 6,252 6,252 40,000 40,000 57,149 17,149 4,000 4,000 7,417 3,417 70,000 70,000 42,714 (27,286) 1,776,725 1,776,725 1,738,147 (38,578) 70,000 70,000 47,696 22,304 Parks and Beaches Unincorporated 1,719,043 1,719,043 1,593,169 125,874 Jacob's Aquatic Center 180,000 180,000 180,000 - School Board Interlocal 29,707 29,707 21,054 8,653 Total Culture and Recreation 1,928,750 1,928,750 1,794,223 134,527 Total Expenditures 1,998,750 1,998,750 1,841,919 156,831 Excess/Deficiency of Revenues Over (Under) Expenditures (222,025) (222,025) (103,772) 118,253 Other Financing Sources (Uses): Reserve for Contingencies (44,881) (44,881) - 44,881 Reserve for Cash Balance (247,068) (247,068) - 247,068 Transfers to Other Funds (162,768) (162,768) (162,768) - Transfers from Constitutional Officers - - 24,818 24,818 Total Other Financing Sources (Uses) (454,717) (454,717) (137,950) 316,767 Net Change in Fund Balances (676,742) (676,742) (241,722) 435,020 Fund Balances, October 1 676,742 676,742 966,974 290,232 Fund Balances, September 30 $ - $ - $ 725,252 $ 725,252 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, 2017 REVENUES: Taxes Intergovernmental Charges for Services Fines and Forfeitures Investment Income Miscellaneous Total Revenues Expenditures: Current: General Government: Tax Collector Property Appraiser Growth Mgmt County Attorney Planning Department Planning Commission Growth Mgmt Administration Planning Building Refunds Total General Government Public Safety: Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 665,000 $ 665,000 $ 610,480 $ (54,520) 2,000,000 2,000,000 1,806,500 (193,500) 2,225,000 2,225,000 2,773,167 548,167 800,000 800,000 1,562,516 762,516 25,000 25,000 57,855 32,855 - - 252 252 5,715,000 5,715,000 6,810,770 1,095,770 5,000 5,000 47 4,953 43,427 43,427 31,696 11,731 480,011 480,011 473,372 6,639 1,706,385 1,706,385 1,627,583 78,802 87,033 87,033 71,205 15,828 789,903 789,903 364,964 424,939 12,000 69,000 19,839 49,161 3,123,759 3,180,759 2,588,706 592,053 Code Enforcement 1,416,346 1,416,346 1,311,071 105,275 Fire & Rescue Coordinator 864,466 864,466 790,251 74,215 Fire Marshall 448,697 448,697 393,639 55,058 Fire Building Refund 2,000 2,000 (12) 2,012 Total Public Safety 2,731,509 2,731,509 2,494,949 236,560 Physical Environment: Environmental Resources 791,628 791,628 768,953 22,675 Total Physical Environment 791,628 791,628 768,953 22,675 Total Expenditures 6,646,896 6,703,896 5,852,608 851,288 Excess/Deficiency of Revenues Over (Under) Expenditures (931,896) (988,896) 958,162 1,947,058 (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, 2017 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) (406,911) (349,911) - 349,911 (1,720,278) (1,720,278) - 1,720,278 (1,547,942) (1,547,942) (1,565,679) (17,737) 10,000 10,000 4,544 (5,456) (3,665,131) (3,608,131) (1,561,135) 2,046,996 (4,597,027) (4,597,027) (602,973) 3,994,054 4,597,027 4,597,027 10,280,996 5,683,969 $ 9,678,023 $ 9,678,023 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, 2017 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) $ 3,967,760 $ 3,967,760 $ 3,836,888 $ (130,872) 3,648,068 3,648,068 3,780,045 131,977 7,100 7,100 17,186 10,086 7,622,928 7,622,928 7,634,119 11,191 118,493 118,493 112,755 5,738 84,060 84,060 74,884 9,176 202,553 202,553 187,639 14,914 616,201 616,201 508,627 107,574 256,833 256,833 237,715 19,118 228,813 228,813 209,501 19,312 3,746,461 3,746,461 3,746,461 - 1,718,336 1,718,336 1,718,336 - 1,462,686 1,462,686 1,462,686 - 8,029,330 8,029,330 7,883,326 146,004 8,231,883 8,231,883 8,070,965 160,918 (608,955) (608,955) (436,846) 172,109 (100,000) (100,000) - 100,000 (718,631) (718,631) - 718,631 (11,514) (11,514) (11,514) - 325,000 325,000 264,674 (60,326) (505,145) (505,145) 253,160 758,305 (1,114,100) (1,114,100) (183,686) 930,414 1,114,100 1,114,100 2,412,724 1,298,624 $ 2,229,038 $ 2,229,038 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, 2017 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 500,000 $ 540,000 $ 461,354 $ (78,646) Investment Income 300 300 - (300) Miscellaneous - - - - Total Revenues 500,300 540,300 461,354 (78,946) EXPENDITURES: Current: Public Safety: 911 Enhancement Fund 240,144 240,144 164,315 75,829 911 Wireless 260,156 300,156 297,039 3,117 Total Expenditures 500,300 540,300 461,354 78,946 Excess/Deficiency of Revenues Over (Under) Expenditures - - - - Net Change in Fund Balances - - - - Fund Balances, October 1 - - 194 194 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, 2017 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 75,000 $ 75,000 $ 84,144 $ 9,144 Investment Income 1,100 1,100 1,967 867 Total Revenues 76,100 76,100 86,111 10,011 EXPENDITURES: Current: General Government: Tax Collector 2,250 2,250 1,000 1,250 Public Safety: Island Security 255,813 291,813 130,796 161,017 Total Expenditures 258,063 294,063 131,796 162,267 Excess/Deficiency of Revenues Over (Under) Expenditures (181,963) (217,963) (45,685) 172,278 Other Financing Sources (Uses): Reserve for Contingencies (36,322) (322) - 322 Reserve for Cash Balance (68,831) (68,831) - 68,831 Total Other Financing Sources (Uses) (105,153) (69,153) - 69,153 Net Change in Fund Balances (287,116) (287,116) (45,685) 241,431 Fund Balances, October 1 287,116 287,116 415,151 128,035 Fund Balances, September 30 $ - $ - $ 369,466 $ 369,466 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, 2017 REVENUES: Intergovernmental Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Economic Environment: Homeowner Assistance Fair Housing Administration Total Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 420,000 $ 420,000 $ 486,419 $ 66,419 4,500 4,500 9,141 4,641 180,000 180,000 300,730 120,730 604,500 604,500 796,290 191,790 1,543,551 1,543,551 359,850 1,183,701 15,000 15,000 - 15,000 125,500 125,500 43,720 81,780 1,684,051 1,684,051 403,570 1,280,481 Excess/Deficiency of Revenues Over (Under) Expenditures (1,079,551) (1,079,551) 392,720 1,472,271 Other Financing Sources (Uses): Reserve for Contingencies (110,608) (110,608) - 110,608 Reserve for Cash Balance (15,000) (15,000) - 15,000 Total Other Financing Sources (Uses) (125,608) (125,608) - 125,608 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (1,205,159) (1,205,159) 392,720 1,597,879 1,205,159 1,205,159 1,120,981 (84,178) $ 1,513,701 $ 1,513,701 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, 2017 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 685,000 $ 685,000 $ 757,113 $ 72,113 Intergovernmental - - 29,622 29,622 Investment Income 7,000 7,000 13,292 6,292 Miscellaneous - - 7,411 7,411 Total Revenues 692,000 692,000 807,438 115,438 EXPENDITURES: Current: Physical Environment: Boating Improvement 1,567,567 1,598,968 362,940 1,236,028 Boating Imp Fees/Retained Vessel 462,832 402,831 157,556 245,275 Total Expenditures 2,030,399 2,001,799 520,496 1,481,303 Excess/Deficiency of Revenues Over (Under) Expenditures (1,338,399) (1,309,799) 286,942 1,596,741 Other Financing Sources (Uses): Reserve for Contingencies (215,895) (149,381) - 149,381 Reserve for Cash Balance (307,045) (307,045) - 307,045 Transfers to Other Funds - (181,576) (109,265) 72,311 Transfers from Other Funds - 86,462 86,462 - Total Other Financing Sources (Uses) (522,940) (551,540) (22,803) 528,737 Net Change in Fund Balances (1,861,339) (1,861,339) 264,139 2,125,478 Fund Balances, October 1 1,861,339 1,861,339 2,535,590 674,251 Fund Balances, September 30 $ - $ - $ 2,799,729 $ 2,799,729 G-45 This page is intentionally left blank. 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, 2017 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 Total Public Safety Human Services: Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ - $ 102,629 $ 102,629 $ - 313,438 372,610 59,172 94,100 226,818 132,718 - 15,717 15,717 2,500 2,600 100 512,667 720,374 207,707 15,000 15,000 - 15,000 570 6,529 5,953 576 15,570 21,529 5,953 15,576 140,000 140,000 132,878 7,122 23,400 61,499 33,360 28,139 40,000 100,030 29,386 70,644 - 4,500 - 4,500 203,400 306,029 195,624 110,405 FL Keys Council for the Handicapped 3,000 5,979 306 5,673 Bayshore Donations 1,557 1,761 300 1,461 Traffic Educ, Ord 021-2002 50,000 192,267 - 192,267 Legal Aid - 22,803 22,803 - Total Human Services 54,557 222,810 23,409 199,401 Culture and Recreation: Settler's Park Landscaping - 2,633 - 2,633 Library Special Programs 20,000 60,200 10,508 49,692 Library Donation -Golan Trust 250,000 291,537 - 291,537 Total Culture and Recreation 270,000 354,370 10,508 343,862 (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, 2017 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Court Related: Teen Court - Ord 016-2004 - 22,803 22,803 - Ord 016-2004 St Court Sup 15,000 87,425 32,766 54,659 SA Ct Tech FS28.24(12)(E) 375,000 554,038 57,320 496,718 PDCtTech FS28.24(12)(E) 10,000 96,929 48,117 48,812 J Ct Tech FS28.24(12)(E) 47,800 379,999 38,406 341,593 Total Court Related 447,800 1,141,194 199,412 941,782 Total Expenditures 991,327 2,045,932 434,906 1,611,026 Excess/Deficiency of Revenues Over (Under) Expenditures (991,327) (1,533,265) 285,468 1,818,733 Other Financing Sources (Uses): Reserve for Contingencies (860,558) (298,317) - 298,317 Transfers to Other Funds - (22,803) - 22,803 Transfers from Other Funds - 2,500 - (2,500) Total Other Financing Sources (Uses) (860,558) (318,620) - 318,620 Net Change in Fund Balances Fund Balances, October 1 (1,851,885) (1,851,885) 285,468 1,851,885 1,851,885 2,790,267 2,137,353 938,382 Fund Balances, September 30 $ - $ - $ 3,075,735 $ 3,075,735 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, 2017 REVENUES: Fines and Forfeitures Investment Income Total Revenues EXPENDITURES: Current: Physical Environment: Environmental Restoration KLWT Plant Site Mitg Pro Total Physical Environment Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 255,000 $ 255,000 $ 881,208 $ 626,208 4,700 4,700 11,651 6,951 259,700 259,700 892,859 633,159 409,341 379,341 205,263 174,078 409,341 379,341 205,263 174,078 409,341 379,341 205,263 174,078 (149,641) (119,641) 687,596 807,237 Reserve for Contingencies (56,247) (56,247) - 56,247 Reserve for Cash Balance (116,274) (116,274) - 116,274 Transfers to Other Funds - (30,000) (28,788) 1,212 Total Other Financing Sources (Uses) (172,521) (202,521) (28,788) 173,733 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (322,162) (322,162) 658,808 980,970 322,162 322,162 1,638,208 1,316,046 $ 2,297,016 $ 2,297,016 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, 2017 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 $ 2,874 $ 1,124 - 134,312 - (134,312) 1,750 136,062 2,874 (133,188) 400,000 534,312 39,075 495,237 400,000 534,312 39,075 495,237 (398,250) (398,250) (36,201) 362,049 Reserve for Contingencies (28,318) (28,318) - 28,318 Reserve for Cash Balance (77,243) (77,243) - 77,243 Transfers from Constitutional Officers - - 30,262 30,262 Total Other Financing Sources (Uses) (105,561) (105,561) 30,262 135,823 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (503,811) (503,811) (5,939) 497,872 503,811 503,811 639,989 136,178 $ 634,050 $ 634,050 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, 2017 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) $ 530,000 $ 530,000 $ 480,710 $ (49,290) 5,000 5,000 17,616 12,616 535,000 535,000 498,326 (36,674) 376,447 376,447 173,569 202,878 376,447 376,447 173,569 202,878 Excess/Deficiency of Revenues Over (Under) Expenditures 158,553 158,553 324,757 166,204 Other Financing Sources (Uses): Reserve for Contingencies (38,532) (38,532) - 38,532 Reserve for Cash Balance (93,271) (93,271) - 93,271 Total Other Financing Sources (Uses) (131,803) (131,803) - 131,803 Net Change in Fund Balances 26,750 26,750 324,757 298,007 Fund Balances, October 1 (26,750) (26,750) 3,221,710 3,248,460 Fund Balances, September 30 $ - $ - $ 3,546,467 $ 3,546,467 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, 2017 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): Reserve for Contingencies Reserve for Cash Balance 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) $ 35,000 $ 35,000 $ 31,080 $ (3,920) 380 380 445 65 35,380 35,380 31,525 (3,855) 100,000 100,000 59,857 40,143 100,000 100,000 59,857 40,143 (64,620) (64,620) (28,332) 36,288 (12,268) (20,000) (12,268) - (20,000) - 12,268 20,000 (32,268) (32,268) - 32,268 (96,888) (96,888) (28,332) 68,556 96,888 96,888 113,810 16,922 85,478 $ 85,478 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, 2017 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 Original Final Budget Budget Variance with Final Budget Positive Actual (Negative) 17 $ 17 710 710 727 727 210 210 21 189 1,125 1,125 - 1,125 1,335 1,335 21 1,314 (1,335) (1,335) 706 2,041 (140) (140) - 140 - - 11 11 (140) (140) 11 151 (1,475) (1,475) 717 2,192 1,475 1,475 1,853 378 $ - $ - $ 2,570 $ 2,570 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, 2017 REVENUES: Investment Income Total Revenues EXPENDITURES: Current: Physical Environment: Bay Point 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) $ - $ - $ 230 $ 230 230 230 28,787 28,787 28,787 28,787 (28,787) (28,787) 28,787 28,787 230 29,017 Reserve for Contingencies (2,760) (2,760) - 2,760 Reserve for Cash Balance (3,505) (3,505) - 3,505 Total Other Financing Sources (Uses) (6,265) (6,265) - 6,265 Net Change in Fund Balances (35,052) (35,052) 230 35,282 Fund Balances, October 1 35,052 35,052 46,175 11,123 Fund Balances, September 30 $ - $ - $ 46,405 $ 46,405 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, 2017 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ - $ - $ - $ - Investment Income - - 2 2 Total Revenues - - 2 2 EXPENDITURES: Current: Physical Environment: Big Coppitt Wastewater 942 942 - 942 Total Expenditures 942 942 - 942 Excess/Deficiency of Revenues Over (Under) Expenditures (942) (942) 2 944 Other Financing Sources (Uses): Reserve for Cash Balance (40) (40) - 40 Reserve for Contingencies (30) (30) - 30 Total Other Financing Sources (Uses) (70) (70) - 70 Net Change in Fund Balances (1,012) (1,012) 2 1,014 Fund Balances, October 1 1,012 1,012 605 (407) Fund Balances, September 30 $ - $ - $ 607 $ 607 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, 2017 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ - $ - $ 14 $ 14 Investment Income - - 33 33 Total Revenues - - 47 47 EXPENDITURES: Current: Physical Environment: Key Largo Wastewater 3,550 3,550 - 3,550 Total Expenditures 3,550 3,550 - 3,550 Excess/Deficiency of Revenues Over (Under) Expenditures (3,550) (3,550) 47 3,597 Other Financing Sources (Uses): Reserve for Contingencies (282) (282) - 282 Reserve for Cash (500) (500) - 500 Total Other Financing Sources (Uses) (782) (782) - 782 Net Change in Fund Balances (4,332) (4,332) 47 4,379 Fund Balances, October 1 4,332 4,332 6,606 2,274 Fund Balances, September 30 $ - $ - $ 6,653 $ 6,653 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, 2017 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 $ 27,391 $ (14,609) 1,700 1,700 14,721 13,021 - - 3,562 3,562 43,700 43,700 45,674 1,974 1,500 1,500 1,000 500 423,000 423,000 125,503 297,497 424,500 424,500 126,503 297,997 Excess/Deficiency of Revenues Over (Under) Expenditures (380,800) (380,800) (80,829) 299,971 Other Financing Sources (Uses): Reserve for Contingencies (52,150) (52,150) - 52,150 Reserve for Cash Balance (100,700) (100,700) - 100,700 Transfers from Constitutional Officers 425 425 520 95 Total Other Financing Sources (Uses) (152,425) (152,425) 520 152,945 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (533,225) (533,225) (80,309) 452,916 533,225 533,225 676,036 142,811 $ 595,727 $ 595,727 G-56 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, 2017 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 2 $ 2 Total Revenues - - 2 2 EXPENDITURES: Current: Physical Environment: Conch Key MSTU 400 400 - 400 Total Expenditures 400 400 - 400 Excess/Deficiency of Revenues Over (Under) Expenditures (400) (400) 2 402 Net Change in Fund Balances (400) (400) 2 402 Fund Balances, October 1 400 400 478 78 Fund Balances, September 30 $ - $ - $ 480 $ 480 G-57 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, 2017 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) $ - $ - $ 4,594 $ 4,594 1,283 1,283 5,877 5,877 155,060 155,060 4,235 150,825 155,060 155,060 4,235 150,825 Excess/Deficiency of Revenues Over (Under) Expenditures (155,060) (155,060) 1,642 156,702 Other Financing Sources (Uses): Reserve for Contingencies (15,000) (15,000) - 15,000 Reserve for Cash Balance (34,216) (34,216) - 34,216 Total Other Financing Sources (Uses) (49,216) (49,216) - 49,216 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (204,276) (204,276) 1,642 205,918 204,276 204,276 257,420 53,144 $ - $ - $ 259,062 $ 259,062 G-58 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, 2017 REVENUES: Investment Income Total Revenues EXPENDITURES: Current: Physical Environment: Duck Key Wastewater Total Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ - $ - $ 300 $ 300 300 300 33,500 33,500 4,351 29,149 33,500 33,500 4,351 29,149 Excess/Deficiency of Revenues Over (Under) Expenditures (33,500) (33,500) (4,051) 29,449 Other Financing Sources (Uses): Reserve for Contingencies (4,500) (4,500) - 4,500 Reserve for Cash Balance (9,416) (9,416) - 9,416 Total Other Financing Sources (Uses) (13,916) (13,916) - 13,916 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (47,416) (47,416) (4,051) 43,365 47,416 47,416 62,313 14,897 58,262 $ 58,262 G-59 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, 2017 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 3,775,000 $ 3,775,000 $ 4,506,290 $ 731,290 Charges for Services 90,000 90,000 112,964 22,964 Investment Income 9,000 9,000 22,894 13,894 Miscellaneous 30,000 30,000 20,825 (9,175) Total Revenues 3,904,000 3,904,000 4,662,973 758,973 EXPENDITURES: Current: Public Safety Building Department 4,507,099 4,777,053 4,439,090 337,963 Building Refunds 30,000 30,000 8,902 21,098 Total Expenditures 4,537,099 4,807,053 4,447,992 359,061 Excess/Deficiency of Revenues Over (Under) Expenditures (633,099) (903,053) 214,981 1,118,034 Other Financing Sources (Uses): Reserve for Contingencies (269,954) - - - Reserve for Cash Balance (516,799) (516,799) - 516,799 Transfer From Other Funds - - - - Transfer to Other Funds (509,033) (509,033) (509,033) - Total Other Financing Sources (Uses) (1,295,786) (1,025,832) (509,033) 516,799 Net Change in Fund Balances (1,928,885) (1,928,885) (294,052) 1,634,833 Fund Balances, October 1 1,928,885 1,928,885 4,029,168 2,100,283 Fund Balances, September 30 $ - $ - $ 3,735,116 $ 3,735,116 G-60 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, 2017 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Revenues: Taxes $ 2,435,000 $ 2,435,000 $ 2,544,792 $ 109,792 Intergovernmental 3,580,000 3,580,000 3,956,582 376,582 Charges for Services 57,000 57,000 35,195 (21,805) Investment Income 35,000 35,000 74,384 39,384 Miscellaneous 22,700 22,700 30,675 7,975 Total Revenues 6,129,700 6,129,700 6,641,628 511,928 Expenditures: Current: Transportation: Road Department 4,164,846 4,164,846 3,159,926 1,004,920 County Engineer Road and Bridge 455,164 455,164 435,762 19,402 Street Lighting 245,173 245,173 229,150 16,023 Local Option Gas Tax Projects 357,583 357,583 325,417 32,166 80% Gas Tax 500,000 500,000 6,222 493,778 Paving Backlog 3,482,929 3,482,929 302,478 3,180,451 Sugarloaf Blvd Bridge 135,276 135,276 24,311 110,965 Sustainability Roads 458,680 458,680 33,680 425,000 Garrison Bight Bridge 420,797 420,797 - 420,797 Total Transportation 10,220,448 10,220,448 4,516,946 5,703,502 Total Expenditures 10,220,448 10,220,448 4,516,946 5,703,502 Excess/Deficiency of Revenues Over (Under) Expenditures (4,090,748) (4,090,748) 2,124,682 6,215,430 Other Financing Sources (Uses): Reserve for Contingencies (548,336) (548,336) - 548,336 Reserve for Cash Balance (603,518) (603,518) - 603,518 Transfers from Other Funds 77,483 77,483 77,483 - Transfers to Other Funds (4,431,839) (4,431,839) (520,047) 3,911,792 Total Other Financing Sources (Uses) (5,506,210) (5,506,210) (442,564) 5,063,646 Net Change in Fund Balances (9,596,958) (9,596,958) 1,682,118 11,279,076 Fund Balances, October 1 9,596,958 9,596,958 12,981,957 3,384,999 Fund Balances, September 30 $ - $ - $ 14,664,075 $ 14,664,075 G -61 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, 2017 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 530 $ 530 Total Revenues - - 530 530 EXPENDITURES: Capital Projects 100,000 100,000 - 100,000 Total Expenditures 100,000 100,000 - 100,000 Excess/Deficiency of Revenues Over (Under) Expenditures (100,000) (100,000) 530 100,530 Net Change in Fund Balances (100,000) (100,000) 530 100,530 Fund Balances, October 1 100,000 100,000 104,657 4,657 Fund Balances, September 30 $ - $ - $ 105,187 $ 105,187 G-62 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 FUND FOR THE YEAR ENDED SEPTEMBER 30, 2017 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 7,847 $ 7,847 Total Revenues - - 7,847 7,847 EXPENDITURES: Capital Projects 1,000,000 1,000,000 26,692 973,308 Total Expenditures 1,000,000 1,000,000 26,692 973,308 Excess/Deficiency of Revenues Over (Under) Expenditures (1,000,000) (1,000,000) (18,845) 981,155 Other Financing Sources (Uses): Reserve for Contingencies (57,767) (57,767) - 57,767 Total Other Financing Sources (Uses) (57,767) (57,767) - 57,767 Net Change in Fund Balances (1,057,767) Fund Balances, October 1 1,057,767 Fund Balances, September 30 $ - $ (1,057,767) 1,057,767 (18,845) 1,211,204 1,038,922 153,437 - $ 1,192, 359 $ 1,192, 359 G-63 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, 2017 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 $ 269,111 $ (205,889) 10,000 10,000 89,417 79,417 - - 35,352 35,352 485,000 485,000 393,880 (91,120) 5,000 5,000 - 5,000 68,500 68,500 20,795 47,705 73,500 73,500 20,795 52,705 73,500 73,500 20,795 52,705 411,500 411,500 373,085 (38,415) Other Financing Sources (Uses): Transfers from Constitutional Officers - - 1,286 1,286 Transfers to Other Funds (682,000) (682,000) (681,938) 62 Total Other Financing Sources (Uses) (682,000) (682,000) (680,652) 1,348 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (270,500) (270,500) 270,500 270,500 (307,567) (37,067) 345,455 74,955 37,888 $ 37,888 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 FUND FOR THE YEAR ENDED SEPTEMBER 30, 2017 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 $ 59,900 $ 28,400 3,500 3,500 10,174 6,674 - - 3,756 3,756 35,000 35,000 73,830 38,830 35,000 35,000 6,583 28,417 35,000 35,000 6,583 28,417 67,247 67,247 (281,750) (281,750) - 281,750 (61,613) (61,613) - 61,613 273 273 (343,363) (343,363) 273 343,636 (343,363) (343,363) 67,520 410,883 343,363 343,363 98,524 (244,839) - $ 166,044 $ 166,044 G-65 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 FUND FOR THE YEAR ENDED SEPTEMBER 30, 2017 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) $ - $ - $ 1,496 $ 1,496 - - 1,496 1,496 1,461,643 630,198 831,445 - 1,461,643 630,198 831,445 (1,461,643) (628,702) 832,941 - 1,461,643 - (1,461,643) - 114617643 - (174617643) (628,702) (628,702) - - 1,462,037 1,462,037 $ 833,335 $ 833,335 G-66 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LAND ACQUISITION FUND CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTEMBER 30, 2017 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 33,538 $ 33,538 Total Revenues - - 33,538 33,538 EXPENDITURES: Capital Projects 8,000,000 8,000,000 346,756 7,653,244 Total Expenditures 8,000,000 8,000,000 346,756 7,653,244 Excess/Deficiency of Revenues Over (Under) Expenditures (8,000,000) (8,000,000) (313,218) 7,686,782 Other Financing Sources (Uses): Transfer From Other Funds 2,000,000 2,000,000 - (2,000,000) Total Other Financing Sources (Uses) 2,000,000 2,000,000 - (2,000,000) Net Change in Fund Balances (6,000,000) (6,000,000) (313,218) 5,686,782 Fund Balances, October 1 6,000,000 6,000,000 6,000,000 Fund Balances, September 30 $ - $ - $ 5,686,782 $ 5,686,782 G-67 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF NET POSITION INTERNAL SERVICE FUNDS SEPTEMBER 30, 2017 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 $ 584,233 $ 2,434,009 $ 707,500 3,401,811 9,059,326 4,110,143 - 30,957 282,848 - 196,518 - - 556,821 - 11,795 32,129 12,958 3,997,839 12,309,760 5,113,449 868 - 24,035 868 - 24,035 3,998,707 12,309,760 5,137,484 38,201 79,580 89,429 13,049 2,063,104 20,122 6,104 34,754 11,589 770,056 1,155,416 1,845,476 - 28 - 2,378 - - 3,138 5,702 8,641 794,725 3,259,004 1,885,828 12,550 22,811 34,567 143,750 96,193 243,186 164,506 194,300 159,209 320,806 313,304 436,962 1,115,531 3,572,308 2,322,790 5,850 12,300 13,564 868 - 24,035 2,914,659 8,804,732 2,866,524 $ 2,915,527 $ 8,804,732 $ 2,890,559 H-1 Fleet Management Fund Total $ 467,138 $ 4,192,880 2,558,302 19,129,582 - 313,805 10,990 207,508 51 556,872 6,918 63,800 3,043,399 24,464,447 54,000 54,000 768,113 793,016 822,113 847,016 3,865,512 25,311,463 319,004 526,214 47,910 2,144,185 42,077 94,524 - 3,770,948 - 28 - 2,378 20,378 37,859 110,365 6,049,922 81,518 151,446 513,392 996,521 801,213 1,319,228 1,396,123 2,467,195 1,506,488 8,517,117 48,635 80,349 822,113 847,016 1,807,280 16,393,195 $ 2,629,393 $ 17,240,211 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, 2017 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) Workers' Group Risk Compensation Insurance Management Fund Fund Fund $ 1,658,946 $ 18,346,643 $ 3,316,939 3,470 75,000 26,012 1,662,416 18,421,643 3,342,951 181,763 304,769 332,071 572,600 1,469,869 1,937,873 - - 2,001 1,928,729 16,186,908 1,905,615 2,683,092 17,961,546 4,177,560 (1,020,676) 460,097 (834,609) Non -Operating Revenues (Expenses): Investment Income 19,380 38,838 30,411 Insurance Recoveries 654,913 159,509 323,589 Total Non -Operating Revenues (Expenses) 674,293 198,347 354,000 Income (Loss) Before Transfers Transfers to Other Funds Change in Net Position Net Position -October 1 (346,383) 658,444 (480,609) (61,030) (117,760) (32,970) (407,413) 540,684 (513,579) 3,322,940 8,264,048 3,404,138 Net Position -September 30 $ 2,915,527 $ 8,804,732 $ 2,890,559 H-3 Fleet Management Fund Total $ 2,724,365 $ 26,046,893 - 104,482 2,724,365 26,151,375 1,338,601 2,157,204 937,483 4,917,825 55,576 57,577 - 20,021,252 2,331,660 27,153,858 392,705 (1,002,483) 20,527 109,156 - 1,138,011 20,527 1,247,167 413,232 244,684 (367,760) (579,520) 45,472 (334,836) 2,583,921 17,575,047 $ 2,629,393 $ 17,240,211 00J MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2017 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 $ 1,658,946 $ 18,330,808 $ 3,034,091 - (367,693) - 654,913 159,509 323,589 (561,594) (1,048,685) (1,933,456) (141,022) (260,379) (298,787) (4,021) (28,787) - (1,583,782) (16,059,964) (306,919) 975 68,354 22,997 24,415 793,163 841,515 (61,030) (117,760) (32,970) (61,030) (117,760) (32,970) 19,380 38,838 30,411 2,063,348 5,080,279 2,037,117 (2,357,210) (6,167,242) (2,726,845) (274,482) (1,048,125) (659,317) (311,097) (372,722) 149,228 895,330 2,806,731 558,272 September 30 $ 584,233 $ 2,434,009 $ 707,500 H-5 Fleet Management Fund Total $ 2,724,405 $ 25,748,250 6,147 (361,546) - 1,138,011 (922,617) (4,466,352) (1,208,751) (1,908,939) (417,223) (450,031) - (17,950,665) (1,876) 90,450 180,085 1,839,178 (367,760) (579,520) (367,760) (579,520) (12,508) (12,508) (12,508) (12,508) 20,527 109,156 2,216,452 11,397,196 (1,949,432) (13,200,729) 287,547 (1,694,377) 87,364 (447,227) 379,774 4,640,107 $ 467,138 $ 4,192,880 (Continued) M. MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF CASH FLOWS (CONTINUED) INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2017 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, Liabilities, and Deferrals: (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 $ (1,020,676) $ 460,097 $ (834,609) - - 2,001 654,913 159,509 323,589 - (15,835) (282,848) - (118,902) - - (277,360) - (2,495) (6,646) (3,015) 11,006 421,184 4,417 6,104 26,179 11,589 344,947 126,944 1,598,696 - (218) - (4,021) - - 4,954 3,386 24,924 4,363 2,919 7,380 9,371 19,335 22,171 12,944 (16,235) (43,790) 3,005 8,806 11,010 1,045,091 333,066 1,676,124 $ 24,415 $ 793,163 $ 841,515 $ 584,233 $ 2,434,009 $ 707,500 H-7 Fleet Management Fund Total $ 392,705 $ (1,002,483) 55,576 57,577 - 1,138,011 40 (298,643) 6,129 (112,773) 18 (277,342) (1,876) (14,032) 14,866 451,473 42,077 85,949 - 2,070,587 (417,183) (417,183) (40) (258) - (4,021) 21,332 54,596 15,580 30,242 78,661 129,538 (62,239) (109,320) 34,439 57,260 (212,620) 2,841,661 $ 180,085 $ 1,839,178 $ 467,138 $ 4,192,880 MONROE COUNTY, FLORIDA COMPREHENSIVE PLAN LAND AUTHORITY STATEMENT OF NET POSITION SEPTEMBER 30, 2017 ASSETS AND DEFERRED OUTFLOWS OF RESOURCES Cash and investments $ 10,785,489 Due from BOCC 469,726 Due from State of Florida 6,370 Mortgages receivable 9,151,579 Equipment, net of accumulated depreciation 1,156 Capital assets -land 30,073,440 Intangible assets 12,889,127 Total assets 63,376,887 Deferred Outflows of Resources 136,420 LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND NET POSITION Current liabilities: Accrued wages 11,330 Compensated absences 16,731 Total current liabilities 28,061 Noncurrent liabilities: Compensated absences 50,872 Net pension liability 271,714 Total noncurrent liabilities 322,586 Total liabilities 350,647 Deferred Inflows of Resources 17,340 Net position: Investment in capital assets 42,963,723 Restricted 3,867,402 Unrestricted 16,314,195 Total net position $ 63,145,320 The accompanying notes to the financial statements are an integral part of this statement. MONROE COUNTY, FLORIDA COMPREHENSIVE PLAN LAND AUTHORITY STATEMENT OF ACTIVITIES YEAR ENDED SEPTEMBER 30, 2017 General revenues Intergovernmental $ 5,184,819 Investment income 96,882 Total general revenues 5,281,701 Program expenses Land contribution conveyances 132,296 General government 469,208 Total program expenses 601,504 Increase in net position 4,680,197 Net position, beginning of year 58,465,123 Net position, end of year $ 63,145,320 The accompanying notes to the financial statements are an integral part of this statement. 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 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, 2017, 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 29, 2018 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. 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 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 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 29, 2018 J-2 .,;:. 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 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, 2017, and have issued our report thereon dated March 29, 2018. 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 Reporting Requirements 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 29, 2018, 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. We have addressed the status of findings and recommendations made in the preceding annual financial report in AppendixA attached to this letter. Official Title and Legal Authority Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in this management letter, unless disclosed in the notes to the financial statements. Such disclosure is included in notes to the financial statements. Financial Condition and Management Section 10.554(1)(i)2., Rules of the Auditor General, requires that we communicate any recommendations to improve financial management. Our recommendations can be found in Appendix B of this report. We did not audit the Board's response to these matters, which are also provided in Appendix B, and, accordingly, we express no opinion on them. Additional Matters Section 10.554(1)(i)3., Rules of the Auditor General, requires us to communicate noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance. In connection with our audit, we did not have any such findings. J-3 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 29, 2018 J-4 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS MANAGEMENT LETTER COMMENTS (PRIOR) -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. Current Year Follow-up: This issue has been addressed by the County in the current year through a number of efforts to train staff and strengthen their skills. J-5 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS MANAGEMENT LETTER COMMENTS (CURRENT) —APPENDIX B 2017-001 Late Payments Observation: During our audit work we noted that the P-cards were not paid timely due to the time it takes to accumulate all of the necessary documentation from the various County departments. Recommendation: We recommend that P-card policies be reinforced to allow payment on a timely basis. Management Response: We agree with this recommendation. The Clerk's Office will review and update the County's current P-card policy as well as discuss with the County Administrator what steps need to be taken to ensure the timeliness of the County's submission of the monthly P-card billings to the Clerk's Office. 2017-002 PFC Reconciliations Observation: During our audit we noted that the reconciliations of the SOAR reports to the general ledger were not made timely due to staffing changes however no reporting errors occurred. Recommendation: We recommend these reconciliations be made quarterly to prevent any possible reporting errors. Management Response: We agree with this recommendation. The Clerk's Office is reviewing its procedures for reconciling PFC activity in the general ledger to ensure staff timely reconciles PFC receipts and disbursements. The Clerk's Office also is working to improve communication with Airport staff to ensure that PFC receipts and disbursements are promptly reviewed and reconciled by the Airport as well. 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: 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, 2017. Management of the Board is responsible for the Board's compliance with the specified requirements. Our responsibility is to express an opinion on the Board's compliance with the specified requirements based on our examination. Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether the Board complied, in all material respects, with the specified requirements referenced above. An examination involves performing procedures to obtain evidence about whether the Board complied with the specified requirements. The nature, timing and extent of the procedures selected depend on our judgment, including an assessment of the risks of material noncompliance, whether due to fraud or error. We believe that the evidence obtained is sufficient and appropriate to provide a reasonable basis for our opinion. Our examination does not provide a legal determination on the Board's compliance with the specified requirements. In our opinion, the Board complied, in all material respects, with the local investment policy requirements of Section 218.415, Florida Statutes, during the year ended September 30, 2017. The purpose of this report is to comply with the audit requirements of Section 218.415, Florida Statutes and Rules of the Auditor General. Orlando, Florida March 29, 2018 J-7