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Fiscal Year 2010MONROE COUNTY, FLORIDA •• � �� • Financial Statements -• s / au MONROE COUNTY,FLORIDA BOARD OF COUNTY COMMISSIONERS Financial Statements 4:or The Fiscal Year - r September 30, 2010 PAGE Table of Contents A-1 --A-3 Independent Auditors' Report B-1 - B-2 Balance Sheet - Governmental Funds C-1 - C-2 Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds -3 - C- Statement of Revenues, Expenditures and Changes in Fund Balans - Budget and Actual Major Governmental Funds: General Fund C-5 - C-9 Fine and Forfeiture Fund C-10 - C-11 Road and Bridge Fund C-12 Governmental Grants Fund C-13 - C-16 Comprehensive Flan Land Authority Fund C-17 Statement of Net Assets - Proprietary Funds C-13 - C-21 Statement of Revenues, Expenses and Changes in Fund Net Assets - Proprietary Funds C-22 - C-23 Statement of Cash Flows - Proprietary Funds C-24 - C-27 Statement of Fiduciary Net Assets - Fiduciary Funds C-26 Statement of Changes in Fiduciary Net Assets - Fiduciary Funds C-29 Notes to the Statements D-1 - G-36 Schedules of Revenues, Expenditures and Changes in Fund Balanoes - Budget and Actual One Cent Infrastructure Surtax Capital Project Fund E-1 Infrastructure Sales Surtax Revenue Bonds, Series 2007 Capital Projects Fund E-2 All [debt Service Funds E-3 - E-4 Combining Balance Sheet - Nonajor Governmental Funds F-1 - F10 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Non ajor Governmental Funds F-11 - F-20 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Financial Statements For The Fiscal Year Ended September 30, 2010 TABLE OF CONTENTS - Continued U394 Schedules of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Special Revenue Funds: Affordable Housing Programs F-21 Tourist Development, All Districts, Two Cent F-22 Tourist Development, Administration and Promotional, Two Cent F-23 Tourist Development, District #One F-24 Tourist Development, District #Two F-25 Tourist Development, District #Three F-26 Tourist Development, District #Four F-27 Tourist Development, District #Five F-28 Impact Fees - Roadways F-29 Impact Fees - Parks and Recreation F-30 Impact Fees - Libraries F-31 Impact Fees - Solid Waste F-32 Impact Fees - Police Facilities F-33 Impact Fees - Fire and EMS F-34 Impact Fees - Employee Fair Share Housing F-35 Fire and Ambulance, District #1 - Lower and Middle Keys F-36 Upper Keys Health Care Special Taxing District F-37 Unincorporated Area Service District - Parks and Recreation F-38 Unincorporated Area Service District - Planning, Building & Zoning Fund F-39 - F-40 Local Housing Assistance F-41 Municipal Policing F-42 911 Enhancement Fees F-43 Duck Key Security District F-44 Boating Improvement F-45 Miscellaneous Special Revenue F-46 - F-47 Environmental Restoration F-48 Law Enforcement Trust F-49 Court Facility Fees F-50 Drug Abuse Trust F-51 Marathon Municipal Service Taxing Unit F-52 Bay Point Municipal Service Taxing Unit F-53 Big Coppitt Municipal Service Taxing Unit F-54 MEMI A-2 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Financial Statements For The Fiscal Year Ended September 30, 2010 TABLE OF CONTENTS ® Continued Key Largo Municipal Service Taxing Unit Stock Island Wastewater Cudjoe-Sugarloaf Municipal Service Taxing Unit Conch Key Municipal Service Taxing Unit Long Key -Layton Municipal Service Taxing Unit Duck Key Municipal Service Taxing Unit Building Fund Combining Statement of Net Assets - Internal Service Funds Combining Statement of Revenues, Expenses and Changes in Fund Net Assets - internal Service Funds Combining Statement of Cash Flows - Internal Service Funds I OTHER REPORTS Independent Auditors' Report on Internal Control over Financial Reporting and on Compliance and other matters Based on an Audit of Financial Statements Performed in Accordance with Govemment Auditing Standards H-1 - H-2 3519 ME' WN In accordance with Government Auditing Standards, we have also issued our report dated March 14, 2011, 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 and should be considered in assessing ffie results of our qudit. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Board's basic financial statements. The combining and individual fund statements and schedules, listed in the foregoing table of contents, are presented for purposes of additional analysis and are not a required part of the basic financial statements of the Board, The combining and individual fund statements and schedules have been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. CHERRY, BEKAERT & HOLLAND, L.L.P. IN MONROE COUNTY, FLORIDA-BOARDCOUNTY COMMISSIONERS SHEETBALANCE GOVERNMENTALFUNDS SEPTEMBER , 2010 Assets Cash and Cash Equivalents Investments Accounts receivable, Net Clue from Other Funds Due from Other Governmental Units Due from Constitutional Officers Mortgages/Notes receivable Allowance for Mortgages/Notes receivable Interest receivable Inventory Total Assets Liabilities and Fund Balances Accounts Payable Retainage Accrued Wages M Benefits Payable Due to Other Funds Due to Other Governmental Units Due to Constitutional Officers Other Current Liabilities Deposits in Escrow Deferred Revenues Total Liabilities Fund Balances: Reserved for: Encumbrances Land Acquisition Mortgage Loans Debt Service Unreserved, Designated in Nonmajor Special revenue Fund Unreserved, Undesignated Unreserved, reported in nonmajor: Special revenue Funds Capital Project Funds Total Fund Balances Fine & Road w Governmental BridgeGeneral Forfeiture 1 26,148,163 13,308,534 6,460,797 2,190,902 12,717 731,996 - - 149,116 - - 120,498 931,241 415,760 485,508 3,963,761 3,873,579 1,494,906 - - - - - 74,132 - - - (74,132) 83,266 52,220 22,829 8,437 ,913 - - - $ 35,761,883 $ 19,340,673 $ 7,112,248 $ 6,398,309 $ 1,238,580 91,171 $ 15,927 2,296,99 9,101 - - 235,941 509,565 66,808 81,851 60,410 340,712 16,667 4,259 - 12,317 33,490 8,483 92,663 8,815 8,969 - 355,532 4,085 - 2 - 121, 986 - - - - 580,596 - 2,973,448 2,245,161 797,701 110,522 6,014,988 34 - - 531,245 33,516,378 18,542,972 7,001,726 (147,924) 33,516,722 18,542,972 7,001,726 383,321 The notes to the financial statements are an integral part of these statements. C-1 Comprehensive Plan Land Authority One Cent Infrastructure urtax Infra Sis Revenue Bonds Series 2007 All Debt Service on ajar Governmental Funds Total Governmental Funds $ 9,951,757 $ 2,235,238 5,983,224 206,35 5,693,444 32,224,68 - 19,490,281 8,259,824 1,878,139 44,494,281 122,230,921 - - - - 255,632 1,000,345 282,731 - - - 1,112,380 1,664,725 19,079 1,06,976 - - 2,612,372 9,497,697 - - - 838,183 6,206,668 8,376,579 - - - 9,066,297 17,517,008 - - - - (9,066,297) (9,140,429) - 68,873 38,460 6,617 199,292 479,994 - - - - - 4,913 $ 18,630,146 $ 22,864,368 $ 14,281,508 $ 2,091,591 $ 55,205,584 $ 181,686,31 $ 5,193 $ 3,023 $ 69,642 $ - $ 2,668,342 $ 7,013,872 - 65,843 - - 537,201 848,086 9,51 17,719 1,255 - 648,911 1,396,060 - 1,056,387 - - 188,216 1,606,21 - - - - 148,750 295,703 - - - - 123,047 496,363 - - - - 462 4,549 - - - - 1,927 123,913 - - - - 203,127 3,757,171 14,734 1,142,972 695,897 - 4,519,983 15,51,958 - 7,519 3,265,475 - 1,478,95 5,283,528 2,859,459 - - - - 2,859,459 8,376,579 - - - - 8,376,579 - - - 2,091,591 - 2,091,591 - - - - 500,611 500,611 7,379,374 21,713,877 10,320,136 - - 98,326,539 a $ 18,630,1464 +- , 181,686,310 C-2 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT .. . , REVENUES, EXPENDITURES,D CHANGES IN FUND BALANCE! GOVERNMENTALFUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2010 Expenditures: Current: General Government Public Safety Physical Environment Transportation Economic Environment Human Services Culture and Recreation Court Related Capital Projects Debt Service Total Expenditures Over/(Under) Expenditures Cher Financing Sources/(Uses): Transfers from Other Funds Transfers to Other Funds Debt Proceeds Transfers from Constitutional Officers Transfers to Constitutional Officers Total Other Financing Sources/(Uses) Fine & Road & Governmental Generale Bridge $ 25,919,591 $ 43,061,878 $1,952,593 $ - 409,103 - - - 7,003,673 23,365 3,409,310 6,937,723 325,100 1,922,032 56,35 137,936 6,969 192,203 - - 263,013 202,849 53,117 29,953 783,669 2,633 49,219 290,173 35,231,123 45,409,965 5,527,624 7,5,765 13,75,031 521,102 1,232,327 7,738,236 196,036 - 61,450 - 56,340 - 5,12,689 - 2,596,725 - 2,493,177 274,033 21,664 - 26,696,211 8,533,428 2,667,676 - 189,459 3,310,716 1,310,090 - 67,556 - 2,57,130 - 109,210 - 23,792 4,793,356 - 120,499 (55,572) (16,667) (537,313) (1,711,164) 3,350,095 1,477,049 - - (11,449,467) (36,715,113) - (540,316) (2,856,566) (35,254,731) (537,813) (2,131,431) i" • 9 'xlpigmm .w C-3 Comprehensive One Cent Infra Sis Srtx Nonmajor Total Plan r' Infrastructure Revenue Bonds Authority. "Funds $ - 1,085,030 $ - - $ 35,544,945 $ 120,56,037 - - - 3,538,095 3,97,203 2,858,547 - - - 6,554,182 26,841,80 - - - - 6,388,428 9,331,881 - - _ 695,740 89,917 99,20 168,779 62,826 63,361 604,426 1,572,744 450,600 - - - 62,461 1,638,755 3,408,567 1,253,809 62,826 63,361 53,388,277 164,791,337 1,022,330 - - - 2,810,317 18,228,780 - - - - 14,424,641 26,063,432 - - - - 1,06,572 1,450,119 - - - - - 4,702,256 - - - - 21,107,525 21,763,423 - - - - 348,630 8,618,449 - - - - 1,58,037 4,253,972 - - - - 471,422 3,262,429 - 816,508 2,683,118 - 2,663,274 6,162,900 - - - 27,910,245 - 27,932,129 1,022,330 816,508 2,683,118 27,910,245 44,38,18 122,37,889 - 282,184 - 12,013,266 3,221,168 20,435,473 - (8,215,900) - - (8,907,142) (19,444,258) - - - 14,9,806 - 14,494,806 15,531 - - - 728,040 6,070,715 - - - - (7,171,354) (55,876,750) 15,531 (7,933,716) - 26,508,072 (12,129,288) (34,320,014) 2,401,768 5,503,585 (2,620,292) (1,338,812) (3,179,29) 8,033,434 16,213,644 16,217,811 16,205,903 3,430,403 53,865,030 158,110,918 $ 18 615.412 8 21,721,396 $ 13,585,611 2,091,591 50,685,601 166 144352 C-4 GENEfir D �7 STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2010 aeeus urrent: General Government: Board of County Commissioners County Administrator Public Works Management County Attorney Office of Management & Budget Technical Services Technology Replacement Grants Administration Personnel Purchasing Public Works Facilities Maintenance ADA Compliance Value Adjustment Board Lobbyist Wind Storm Actuarial Promotional Advertising Tax Increment Payment Quasi External Services Clerk to BOCC-Financial Package Tax Collector Property Appraiser C Original Budget Budget Actual Final Budge Positive (Negative) 357,895 357,895 409,108 51,213 5,792,577 5,792,577 7,003,673 1,211,06 645,262 645,262 825,100 179,838 10,526 10,526 6,969 (3,557) 736,82 736,842 283,013 (453,829) 597,368 726,071 783,669 57,598 34,877,267 35,005,970 35,231,123 225,153 1,642,326 1,642,326 1,413,750 228,576 553,655 555,455 551,860 3,595 121,974 126,379 121,280 5,099 1,209,238 1,209,238 996,570 212,668 478,59 478,459 401,042 77,417 1,530,447 1,720,447 1,568,582 151,865 156,991 156,991 134,619 22,372 207,899 207,899 3,960 203,939 332,889 338,889 333,636 5,253 20,818 209,818 202,854 6,96 6,708,085 6,708,085 6,204,582 503,503 10,000 10,00 4,291 5,709 72,100 72,100 55,974 16,126 82,000 82,000 60,000 22,00 - 115,651 95,136 20,515 5,000 5,000 1,621 3,379 36,200 360,200 291,048 69,152 125,000 125,000 115,824 9,176 5,000 5,0 - 5,00 646,177 556,467 556,460 7 568,804 568,804 518,152 50,652 The notes to the financial statements are an Integral part of these statements. C-5 GENERALFUND STATEMENT ,4 AND CHANGES FUND BALANCES - BUDGET AND ACTUAL - CONTINUED _ %T 1 :4 ;. Final Budget Original Final Positive Budget Budget Actual (Negative) Insurances -Supervisor of Elections 122,204 122,204 120,E26 1,37E Gov't Enterprise Management System 200,000 200,000 122,964 77,036 Total General Government 15,348,266 15,576,412 13,87 ,031 1,701,381 Public Safety; Hurricane Emergency Management Marathon Emer Operations Center Medical Examiner American Red Cross Lower Keys Fire Academy Total Public Safety *'hysical Environment: Extension Service Upper Marathon Bird Ctr Exotic Wild Bird Rescue Wastewater Upgrade Total Physical Environme,*1 Transportation: County Engineer 303,037 303,037 189,266 113,771 200,46 200,446 185,038 15,40E 70,E53 70,E53 36,E99 33,954 564,904 565,4E2 565,302 1E0 5,000 5,000 5,000 - 327,522 477,452 251,322 226,130 1,471,762 1,622,270 1,232,827 3E9,443 186,213 186,213 5,000 5,000 5,000 10,000 5,00 - 277,476 277,476 47E,6E9 47E,6E9 213,649 ,4 181,08E 5,125 5,000 - 10,000 - t Economic Environment: Literacy Volunteers of America 4,000 4,000 4,000 - Veteran's Affairs 476,530 476,530 461,246 15,2E4 Veteran's Affairs Transportation 124,930 124,930 123,094 1,E36 Total Economic Environment 605,460 605,460 5EE,340 17,120 Human Services: Health Care Respite Act 40,000 40,000 - 40,000 Hospice of the Florida Keys 145,000 145,000 145,000 - Public Works Animal Shelter 9E4,419 9E4,419 957,153 27„266 Bayshore Manor 69E,276 69E,276 6E9,574 E,702 (Continued) The notes to the financial statements are an integral part of these statements. C-6 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONER1 GENERALFUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2010 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Middle Keys Guidance Clinic 215,195 215,195 215,195 - Middle Keys Guidance Clinic 30,148 30,148 30,148 - Middle Keys Guidance Clinic 69,177 69,177 69,177 - Middle Keys Guidance Clinic 600,000 600,000 600,000 - GCMK Bakermrchmn Trans p 146,000 146,000 124,411 21,589 Monroe Cnty Assoc. for Retarded Citizens 146,500 146,500 146,500 - Heron/ Peacock 48,500 48,500 48,500 - Older Americans Volunteer Program 500 500 384 116 Welfare Administration 423,555 389,891 356,627 33,264 Welfare Services 541,200 543,800 516,521 27,279 Florida Keys Children's Shelter 146,500 146,500 146,500 - Wesley House 126,500 126,500 126,500 - MCEF/ Monroe Youth Challenge 25,000 25,000 25,000 - Helpline 4,500 4,500 4,500 - Domestic Abuse Shelter 30,000 30,000 30,000 - Florida Keys Outreach Coalition 36,700 36,700 36,700 - Samuel's House 77,000 77,000 77,000 - Youth Summer Rec - 10,000 10,000 - Grace Jones 17,500 17,500 17,456 44 Womankind 70,000 70,000 70,000 - Rural Health Network 273,600 273,600 273,600 - Rural Health Network STD 60,000 60,000 60,000 - MCEF Monroe 15,000 15,000 15,000 - Social Service Transportation 769,949 769,949 719,938 50,011 Keys Area Interdenominational Resources 10,000 10,000 10,000 - FL Keys Healthy Start Coalition 5,000 5,000 5,000 - Star of the Sea Foundation 10,000 10,000 10,000 - MCSB Pace 59,000 59,000 59,000 - aster Seals Society 10,000 10,000 10,000 - Health Department Lease 70,000 78,000 78,000 - Aids Help 25,500 25,500 25,500 - Independence Cay 7,500 7,500 7,500 - Historic FI Keys Foundation 28,500 28,500 28,500 - Good Health Clinic 35,000 35,000 35,000 - FL Keys Area HIth Educ Ctr 35,000 35,000 32,805 2,195 Total Human Services 6,036,219 6,023,155 5,812,689 210,466 The notes to the financial statements are an integral part of these statements. C-7 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS GENERALFUND STATEMENT ,:. REVENUES, EXPENDITURES, FUND BALANCES - BUDGET AND ACTUAL - CONTINUED FOR THE YEAR ENDED SEPTEMBER .! 2010 UpperCulture and Recreation: Heart of the Keys Recreation Big Pine Athletic Association Boys and Girls Club Upper Keys YMCA Higgs Beach Maintenance Lower Keys AARP Middle Keys AARP Big Pine Key AARP LibraryFine Arts Council Library Admin Support Library Key West Donations Library Marathon Library Marathon Donations Library Islamorada Library Islamorada Donations LargoLibrary Key DonationsLibrary Key Largo Library • . Pine Key Library Big Pine Key Donations Total Culture . • Recreation Court elate Law Library Article V Residual B Contingency Guardian Ad Litem State Attorney Public Defender Court Administration Court Admin-,Judicial Support Court Admin-Circuit Ct Reporter Svcs Court Admin®Circuit ®rug Court Court Admin®Pretrial Release Original Final Budget Budget Actual aria Final Budget Positive 30,400 30,400 30,400 - 4,000 44,000 4,000 - 36,500 36,500 36,500 - 11,400 11,00 11,400 - 200,426 200,426 138,899 61,527 4,500 4,500 559 3,941 4,500 4,500 3,516 932 4,00 4,500 4,266 212 4,500 4,500 1,149 3,351 57,000 57,000 57,000 - 521,956 521,956 520,207 1,749 659,676 659,676 629,242 30,434 - 101,252 24,736 76,516 262,184 262,184 242,495 19,639 - 16,366 723 16,156 242,628 242,628 239,258 3,370 - 495 - 495 351,999 351,999 350,749 1,250 - 4,135 - 4,165 271,945 271,945 256,736 15,209 - 11,349 2,361 3,466 2,710,114 2,844,281 2,596,725 247,556 53,664 53,664 50,298 3,366 - 5,000 5,000 160,105 160,105 155,343 4,762 333,720 338,720 295,816 42,904 514,577 514,577 508,438 6,139 2,663 2,663 2,306 557 160,658 160,653 147,493 13,165 1,675 1,675 1,491 164 429,691 429,691 399,949 29,742 506,404 506,404 496,49 9,915 (Continued) The notes to the financial statements are an integral part of these statements. C-6 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS GENERALFUND EXPENDITURES,STATEMENT OF REVENUES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED ,. THE YEAR ENDED SEPTEMBER 30,2010 Original Final Positive Budget Budget Actual (Negative) Court Admin-Family Ct Case Mgmt 18,911 18,911 18,719 192 Ct. Adin-Other Circuit Court Juvenile 49,296 49,296 47,987 1,309 Ct. Admin-Pretrial Svcs Drug Diversion 119,929 119,929 71,657 48,272 CourtAmin-Information Systems 162,007 163,007 16,191 816 Total Court Related 2,648,500 2,654,500 2,493,177 161,323 Debt Service: Principal Interest Total Debt Service Other in ncin ouices/(Uses): Reserve for Contingencies Reserve for Cash Balance Transfers from Other Funds Transfers to Other Funds Transfers from Constitutional Officers Transfers to Constitutional Officers Total Other Financing Sources/(Uses) 199,615 39,615 20,22 19,193 14,414 14,414 1,462 12,952 214,029 54,029 21,884 32,145 29,726,688 30,072,45 26,898,211 3,17,234 5,150,579 4,933,525 8,332,912 3,399,387 0. 4,798,356 t 0, 475,492 Fund Balances, September 30 $ 33,516,722 33,516,722 The notes to the financial statements are an integral part of these statements. C-9 FINE AND FORFEITURE SPECIAL REVENUE D STATEMENT " EXPENDITURES,# CHANGES IN FUND `:- BUDGET AND D ACTFOR THE YEAR UAL ENDED P 2010 EXPENDITURES. Current: General Government: Tax Increment Payment Public Safety: Sheriff Law Enforcement Sheriff Corrections Bond Refunds SchoolLEEA Funds Public Works Correction Facilities Medical Air Transport Key West y CommunicationsInteragency ShareJuvenile Detention Cost Total ' Wastewaterd Court Related: Sheriff Extradition Sheriff Court Security Total Court Related { -FinalOriginal Budget dBudget Actual Variance BudgetFinal Positive -, 2,270,000 /,. .' (349,698) " -..I 202,849 { M 2,480,150 2,0,150 2,467,756 12,394 2,372,191 2,372,191 2,196,825 175,366 25,000 25,000 - 25,000 75,000 75,000 75,00 - 1,03,964 1,903,964 1,647,894 256,070 1,117,673 1,246,173 965,68 280,705 10,059 10,059 2,511 7,548 63,891 63,891 24,201 39,690 337,140 358,633 358,633 - 8,385,068 8,535,061 7,738,288 796,773 55,000 55,00 - 55,00 50,000 50,000 23,158 26,842 253,98 253,948 250,880 3,068 303,948 303,948 274,038 29,910 Excess/Deficiency of Revenues Over/(Under) Expenditures 38,593,180 38,465,802 36,876,537 (1,589,265� The notes to the financial statements are an integral part of these statements. (Continued) C-10 STATEMENTMONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS FINE AND FORFEITURE SPECIAL REVENUE FUND EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2010 Variance vAth Final Budget Original Final Positive Budgetu e Actual (Negative) Reserve for Contingencies (150,000) (128,507) - 128,507 Reserve for Cash Balance (,532,567) (4,532,67) - 4,532,567 Transfers to Other Funds (16,667) (16,667) (16,667) - Transfers from Constitutional Officers 610,22 610,242 1,477,049 866,807 Transfers to Constitutional Officers _36,843,610 36,737,725 (36,715,113) 22,61 Total Other Financing Sources/(Uses) 40,932,602) (40,805,224) (35,254,731 5,550,493 Net Change in Fund Balances (2,339,422) (2,339,422) 1,621,806 3,961,228 Fund Balances, October 1 2,339,422 2,339,22 16,21,166 14,581,744 Balances,Fund September 0 $ 18,542,972 $ 18,542,972 The notes to the financial statements are an integral part of these statements. C-11 ROAD AND SPECIAL;. STATEMENT , EXPENDITURES, nw, AND CHANGES FUND BALANCES BUDGET 1. ♦ A. R THE YEAR ENDED SEPTEMBER 0 Expenditures - Transportation: Road Department County Engineer Road and Bridge Street Lighting Local Option Gas Tex Projects 0% Gas Tax Total Transportation Final Budget Budget Actual I, Final Budget Positive 03,200,000 3,409,3100 01 150,000 58,117(91,883) 56,000 . 00 • Z 4,448,000 ,ram 8 4,448,000 4 4 0 . 173,068 90,705 334,190 63,393 230,000 230,0001, 3,545,514 3,693,097 3,310,716 382,381 902,486 01,462,005 Other Financing Sources/(Uses). Reserve for Contingencies (500,000) (2,835) m 2,335 Reserve for Cash Balance (1,023,941) (1,023,941) - 1,023,941 Transfers to Other Funds (595,725) (945,310) (537,313) 407,497 Total Other Financing Sources/(Uses) (2,119,669) (1,972,036) (537,313) 1,434,273 Net Change in Fundnoes (1,217,183) (1,217,133) 1,679,095 2,896,278 Fund Balances,October 84,105,448 M, Balances, September 1 M r 7,001,7267,001,72 The notes to the financial statements are an integral part of these statements. C-12 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS GOVERNMENTAL GRANTS SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN `,i BALANCES BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 0 avenues® Intergovernmental Charges for Services Investment Income Miscellaneous Total Revenues Expenditures: Current: General Government: Mthn Garage Door Retrofit Public Safety: Emergency Management Base Grant Radiological Ernerg Preparedness EMS Award Grant EMS Matching Grant CDC Overhead Door Retrofit Homeland Security Grant Homeland Security Grant SHSGP ISS7 CSP/ICS Grant ODP UASI 07 Grant OCP UASI 08 Grant MCSO/Ermg UASI 08 Grant FEMA-Hurricane Katrina FEMA-Hurricane Rita FE A -Hurricane Wilma FE A -Tropical Storm Fay FEMA-Hurricane Ike Total Public Safety Physical Environment. Exotic Plant Control Svc IE Plant Removal Crew FK095 Mech IE Plant Removal FK097 Clean Vessel Act LE 65 Total Physical Environment Variance with Final Budget Original Frei Positive Budget Budget Actual (Negative)_ - $ 29,035,186 $ 6,987,723 $ (22,047,63) - 150,103 137,936 (12,167) - - 29,953 29,953 - 13,500 290,173 276,673 - 29,198,789 7,45,785 21,753,004) 3,532 - 3,32 - 181,695 136,055 4,640 - 150,102 143,227 6,875 - 144,171 57,211 86,960 - 110,000 109,743 257 - 3,930 - 3,930 - 17,500 - 17,500 - 94,814 13,057 81,757 - 15,000 - 15,000 - 321,946 157,525 164,421 - 35,000 - 35,000 - 48,060 116,176 367,884 - 886,978 - 886,978 - 703,653 - 73,653 - 10,929,668 1,550 10,928,118 - 1,958,102 1,909,999 48,103 - 23,133 23,133 - -� 16,059,752 2,667,676 13,392,076 - 182,889 166,737 16,152 - 96,000 7,029 88,971 - 50,00 - 50,00 - 19,892 15,693 4,199 -� 348,781 189,459 159,322 The notes to the financial statements are an integral part of these statements. (Continued) C-13 GOVERNMENTAL GRANTS SPECIAL REVENUE D STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2010 1 Transportation: Geiger Creek BridgeBridgePalm Drive Bay Point Sunset Point Park Boat Ramp SafetyTom's Harbor Channel Bridge Traffic Signal Maintenance . . Transp Planning •. 07-09 Bicycle/Pedestrian Plan 2 Overseas Heritage Trail Pigeon Key Ferry Service LAP «, Interpretive Signage LAP FKSH Panels Total Transportation EconomicEnvironment: DisasterFEMA Severe Repetitive Loss Recovery PF Affordable Housing Coordinator Total Economic "w Variance with Final Budget Original Final Positive Budgetgad et Actual (Negative) - 1,102,513 649,287 453,226 - 136,053 130,544 5,509 - 105,430 27,376 73,054 - 1,570,70 414 1,570,366 - 10,514 - 10,514 - 23,303 - 23,303 - 622,379 163,230 459,099 - 16,133 56,616 107,320 - 32,040 - 342,00 - 488,745 232,371 206,374 - 1,100,00 - 1,100,000 - 5,000 - 45,000 - 5,710,895 1,310,090 4,400,305 M,'.,479 L 126,205 • 4, Human Services: Residential Substance Abuse Treatment 16,667 133,334 67,102 66,232 Offender Re-entry Frnp Rdy Pgm - 44,900 44,900 - ort Fraud Prev Prot Program - 113,137 60,953 52,164 `lC Middle School FgmV - 41,723 41,723 - Prevent Recidivism Fr Adl - 32,725 32,725 - rug Court Pgm Urin Lab - 46,725 46,233 442 Wit Recidivism Prevention - 21,700 21,700 - Title III-P3 2009 - 39,714 22,641 17,073 Title I I I-B 2010 - 109,569 76,753 30,616 Title III-Cl 2009 - 56,120 52,267 3,353 Title III-1 2010 - 142,600 131,650 10,950 Title III-C2 2009 - 125,316 75,734 49,534 Title III-C2 2010 - 210,832 168,835 41,997 Title III-F 2009 - 29,906 23,361 1,045 Title III-F 2010 - 56,560 55,726 334 Al heimer's Disease Initiative 09/10 - 61,130 56,300 4,330 The notes to the financial statements are an integral part of these statements. (Continued) C-14 EXPENDITURES,GOVERNMENTAL GRANTS SPECIAL REVENUE FUND STATEMENT OF REVENUES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED FOR THE YEAR ENDED SEPTEMBER 3 f -, 1 ; 0 Alzheimer's Disease Initiative 10/11 Community Care Disabled Adults 09/10 Community Care Disabled Adults 10/11 Community Care for the Elderly 09/10 Community Care for the Elderly 10/11 Home Care for the Elderly 0 0 o-wme Energy Home Care for the Elderly 10/11 Total Human Culture and Recreation: State Aid to Libraries Library Services Technology 1 1 Total Culture and Recreation r o Related: Juvenile Drug Coul Over/(Under) Expenditurel Variance with Final e Original Final Positive Budget Budget Actual (Negative) - 56,746 14,266 42,460 - 32,595 56,335 26,260 - 90,14 17,413 73,401 - 467,078 466,367 711 - 461,760 177,484 234,276 - 13,222 10,456 2,766 - 16,560 2,636 13,724 - 14,171 104,329 39,62 - 503,504 223,657 279,847 - 24,254 9,996 1,253 - 29,369 15,412 13,957 - 257,007 251,353 5,65 - 47,363 39,25 7,936 - 424,517 61,126 343,389 16,667 3,635,003 2,457,130 1,427,373 9 99,2790 *... 23.792 23.792 Other Financing Sources/(Uses); Reserve for Contingencies (535,000) (535,000) - 535,000 Transfers from Other Funds 551,667 3,599,158 120,499 (3,478,659) Transfers to Other Funds - (2,804,549) (1,711,164) 1,093,385 Transfers to Constitutional Officers - 601,542� 540,616 60,726 Total Other Financing Sources/(Uses) 16,667 ___-_ 341,933�_ 2,131,481 (1,739,548 (Continued) The notes to the financial statements are an integral part of these statements. C-15 MONROE COUNTY, FLORIDA-BOARDOF COUNTY COMMISSIONERS GOVERNMENTAL GRANTS STATEMENTOF REVENUES, EXPENDITURES, AND CHANGES . BALANCES 11 AND 1M ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2010 Net Changeln Fund Balances Fund Balances, October 1 Fund Balances, September 3 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) - (1,510,611) (1,510,11) - 1,393,932 1,393,932 - - $ 333,321 333,321 The notes to the financial statements are an integral part of those statements. C-16 STATEMENTMONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONER COMPREHENSIVE PLAN LAND AUTHORITY SPECIAL REVENUE FUN OF REVENUES, EXPENDITURESM, CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2010 R TE I Intergovernmental MiscellaneousInvestment Income •• Total Revenues EXPENDITURES: Current: General Government: Administrative Capital Outlay Total General Government ;YI. w R '711 +.Antoulza Net Cin Fund Balance hange ,g Fund Balances,October Budgetary Original Budget Budget Actual (Negative) 40,000 40,000 '59,420 450,600 450,600 357,500 357,500+ (7,468,521) 2,386,897 (7,468,521) (4,652,521) 9,481,946 9,481,946 15,531 15,531 9,481,946 - Reconciliation of Budgetary Basis To GAAP Basis Reconciling item: Mortgage receivable 8,376,579 Transfer from reserve for land acquisition (1,636,) Compensation accrual (9,541) Fund Balances, September 30 - GAAP Basis 18,615,412 The note to the financial statements are an Integral park of these statements, C-17 7,054,949 MONROE ,FL I OF COUNTY I I STATEMENT F NET ASSETS PROPRIETARY FUNDS SEPTEMBER 30, 2010 ASSETS Current Assets: Cash and Cash Equivalents Investments Restricted Cash and Cash Equivalents Restricted Investments Accounts Receivable, Net Due from Other Funds Due from Other Governmental Units Clue from Constitutional Officers Interest Receivable Total Current Assets RestrictedNoncurrent Assets: aEquivalents Restricted Deferred Investments Restricted Interest Receivable Charges, Net Land and Other Nondepreciable Assets Capitale p. Total Noncurrent Assets LIABILITIES Current Liabilities: Accounts Payable Accrued Wages and Benefits Payable Claims and Judgements Payable Clue to Other Funds Due to Other Governmental Units Due to Constitutional Officers Accrued Interest Payable Accrued Comp. Absences Payable Capital Leases Payable Deposits in Escrow Deferred Revenue :; ; ;r1ol III, r Municipal ,; Svc District Sound West Waste Bridge Airport 544,065 272,533 111,652 6,447,055 6,747,510 171,015 - - 630,950 - - 989,336 430,989 - 674,534 7,133 - - 12,06 1,773 4,587,950 4,013 - 40,278 22,774 22,774 3,263 7,468,030 7,044,590 7,459,035 20,411 - 3,797,698 1,374,392 - 4,11,134 3,325 - 34,476 3,93 - 291,603 3,629,620 50,000 7,334,736 243,857 9,200,950 55,995,110 5,775,598 9,250,950 71,594,757 C-18 593,260 1,64 167,446 56,099 32,062 31,692 - 301 132,56 753 - 470,896 577 - 17, 959 - - - 1,73 50,000 - - 73,459 - 3,00 - - 31,201 Major Funds Activities Mfrsl Marathon ice Airport Total Funds 196,342 1,124,592 2,144,233 1,524,308 14,890,388 24,992,316 - 360,95 - - 989,366 - 23,730 1,134,253 33,974 132,548 139,686 - 247,602 4,849,371 135,615 - 44,291 63,136 5,404 54,220 66,253 2,135,434 24,107,139 27,477,607 - 3,818,109 - - 6,015,526 - - 36,301 - - 295,096 - 1,621,203 12,635,559 5,000 11,023,641 76, 63,558 1,058,544 12,649,344 99,271,19 1,112,544 14,785,278 123,373,236 26,590,151 362,036 1,124,416 236,16 16,497 163,350 79,55 - - 6,094,266 64,942 197,791 379 2,541 474,190 - - 577 - - 17,959 - 13,026 14,816 10,305 - 50,000 - 6,306 92,765 - - 61,201 - mm COUNTY,MONROE 1 COMMISSIONERS STATEMENT T ASSETS- CONTINUEC PROPRIETARY FUNDS SEPTEMBER 30, 2010 Restricted Accounts PayableRetainage Accrued Interest Payable Notes Payable Revenue Bonds Payable Noncurrent Liabilities: Payable from restricted assets -Landfill closure/post closure costs Accrued Comp. Absences Payable Claims & Judgements Payable Capital Leases Payable Notes Payable Revenue Bonds Payable CPES Liability Total Noncurrent Liabilities NET ASSETS Invested in Capital Assets, Net of Related Debt Restricted for: Debt Service Capital Projects Landfill Unrestricted SoundMunicipal rd Key Svc District West BridgeWaste ; - 2,922,725 - 777,926 - - 3,098 496,867 - - - - 460,000 397 .* 5,10 412,525 - - 181,206 80,139 111,877 129,632 - 234,816 617,270 - - 535,498 - - - - 11,080,000 299,319 171,536 267,726 2,175,450 251,675 11,69,419 3,470,847 286,239 16,801,739 - 4,848,936 - - 3,121,273 1,486,103 - - 6,112,886 6,758,351 4,322,311 The notes to the financial statements are an integral part of these statements. C-20 Major Funds Marathon Airport L - 2,922,725 - - 777,926 - - 3,098- - 496,867 - - 460,000 - 465,400 6,902,681 6,421,320 - 412,525 - 36,666 411,908 134,452 - 364,443 - - 617,270 - - 535,498 - 11,030,000 - 102,325 341,06 290,590 141,511 1,263,055 425,042 606,911 21,165,736 6,846,362 12,649,844 74,034,169 1,159,445 - 4,848,936 - - 3,121,273 - - 1,436,103 - 1,526,523 13,722,071 20,584,344 14,178,367 102,212,552 21,743,789 no STATEMENT OF REVENUES, EXPENSES AND CHANGESD NET ASSETS PROPRIETARY ., ; FOR THE YEAR ENDED B ; ., 30, 0 1- 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) Non®perating Revenues/(Expenses); Operating Grants Grant and Donations - Other Sources Other Income - PFC Investment Income Insurance Recoveries Gain (Loss) on Disposition of Assets Interest Expenses and Fiscal Charges Total Rion -Operating Revenues/(Expenses) Income/(Loss) Before Contributions and Transfers Transfers from Other Funds Transfers to Other Funds Transfers from Constitutional Officers Transfers to Constitutional Officers Capital Grants and Contributions Change in Net Assets Total Net Assets -October 1 Total Net Assets -September 30 a SoundSvc District West Waste Bridge Airport 463,131 - $ - 17,004,994 1,022,799 5,058,534 - - 1,976 4,742 - 5,709 17,472,867 1,022,799 5,066,219 1,49,531 801,170 1,693,611 14,134, 723 125,761 6,160,172 56,924 416,088 1,951,437 15,641,178 1,33,019 9,805,220 78,787 - 3,451,604 50,000 - 342,842 - - 962,169 97,773 107,834 88,675 (356) - (442) 56_$_92) - 254,203) 169,312 107,834 4,590,645 (179,303) (121,362) (159,66) ,013 - - (8,000) - - - 2,468,993 7,955,120 +r . 1,080 The notes to the financial statements are an integral part of these statements. C-22 Governmental Major Funds Activities Internal Marathon Service Airport o ai Funds - $ 463,131 - 738,275 23,824,602 20,366,407 - 1,976 - 1,06 11,657 210,523 739,481 24,301,366 20,576,930 432,599 4,376,911 1,743,783 764,055 21,184„711 3,50,7 562,192 2,986,61 7,821 - - 16,666,735 1,758,846 28,548,263 22,025,786 50,126 3,580,517 - - 392,82 - - 962,169 - 17,979 312,261 277,450 - - 523,178 - (798) (36,75) - (311.095) - 68,105 4,935,896 764,153 951,2601 688,999 (68,703) 166,993 166,993 - (64,942) (525,271) (632,937) - 4,013 - - (8,000) - 379,873 2,848,866 - (69,336) 3,175,600 (1,317,640) 14,647,703 99,036,952 23,061,429 $ 14,178,367 $ 102,212,552 $ 21,743,789 mm MONROE COUNTY, FLDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF CASH FLOWS PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2010 Operating Activities: Cash received for services Cash rec'vd from other funds for goods and secs Cash received from insurance recoveries Cash received from others-PFC Cash payments to suppliers for goods and secs 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 Net Cash Provided/(Used) by Noncapital Financing Activities Capital and Related Financing Activities: Proceeds from capital grants Acquisition of capital assets Principal paid on capital debt Interest and fiscal charges paid on capital debt Transfers from other funds restricted for capital purposes Net Cash Provided/(Used) by Capital and Related Financing Activities um= r fllajor Funds pal Card Key Svc District Sound West Waste Bridge Airport 2,681 962,169 (14,324,839) (217,671) (6,034,325) (814,139) (447,909) (1,029,320) (360,024) (215,854) (162,650) 4,742 5,709 1,838,625 139,926 78,787 3,648,854 4,013 (187,303) (121,281 159,6641 4,502,325 (9,076) (90,712) (7,087,841) (479,791) (5,670,000) (65,430) (239,775) Investing Activities: Investment income 126,686 114,412 30,905 Proceeds from sales and maturities of investments 7,108,348 540,565 14,816,558 Purchase of investment securities (8,052,956) �4,942,582 018,332 Net Cash Provided/(Used) in Investing Activities ..... ±17,922 287,605 4,829,131 Net Increase/(Decrease) in Cash and Cash Equivalents 361,903 (4,359,672) (1,511,413) Cash and Cash Equivalents: October 1 202,573 4,632,205 6,301,713 September 30 $ 564,476 $ 272,533 $ 4,790,300 The notes to the financial statements are an integral part of these statements. C-24 Major Funds Activities Internal Marathon ice Airport Total Funds 616,441 23,891,979 4,345,666 - 2,61 15,591,577 - - 512,167 - 962,169 - (744,941) (21,321,776) (3,963,923) (204,565) (2,495,933) (1,033,011) (103,603) (842,131) (362,643) - - (16,828,673) 1,206 11,657 239,432 (435, 62) 208,646 _299,16 52,039 3,779,680 - 7,329 11,342 - (111,326) (579,574) (632,97) (51,953) 3,211,443 (632,937) 241,930 4,74,305 - (527,555) (7,715,184) (21,565) (6,149,791) - - (30,205) 159,664 159,664 - 125,911(9,266,211) (21,565) f 302,897 2,5W691 s+ - (27,73) (5,536,925) (,923,724) 224,085 11,360,576 7,067,957 $ 196,342 $ 5,823,651 $ 2,144,233 G-25 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF CASH FLOWS -CONTINUED PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2010 Reconciliation of operating income/(loss) to net cash provided bV(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 and Liabilities: Increase/(Decrease) in Accounts receivable Increase/(Decrease) in Due from other funds Increase/(Decrease) in Due from other gov't units Increase/(Decrease) in Due frn constitutional ofcrs Increase/(Decrease) in Accounts payable Increase/(Decrease) in Accrued wages/benefits Increase/(Decrease) in Claims/judgments payable Increase/(Decrease) in Due to other funds Increase/(Decrease) in Due to other gov't units Increase/(Decrease) in Due to constitutional ofcrs Increase/(Decrease) in Comp. absences payable Increase/(Decrease) in Deposits in escrow Increase/(Decrease) in Landfill Closure Costs Increase/(Decrease) in OPEB liability Total adjustments Jor Funds Municipal Card Key Svc District Sound West Waste Bridge Airport 56,924 416,088 1,951,437 - - 962,169 (78,164) (96,299) 2,681 18,081 (2,212) (1,439) - (1,216) (40,237) (25,453) 534,976 (14,269) (2,604) 12,746 - 127,624 273 - 3,729 - (391) (136,918) (8,737) (23,223) (45,349) (56,329) 4,084 - - 129,354 71,715 112,599 6,936 460,146 3,404,558 Net Cash Provided by/(Used in) Operating Activities $ 1,838,625 $ 139,926 $ 0_1.33�4,443 Nencash investing, capital, and financing activities. Contribution of capital assets from gov't $ - $ $ 2,500 Gain (Loss) on disposition of assets 1 $ 442 $ Forgiveness of capital lease amount $ - 5 . .... Cash Reconciliation: Unrestricted $ 544,065 $ 272,533 $ 111,652 Restricted 20,411 - 4,678,648 Total $ 564,476 $ 272,533 $ 4,790,300 The notes to the financial statements are an integral part of these statements. C-26 Major Funds Marathon Airport rm $ (1,019,365) $ (4,246,897) $ (1,448,856) 562,192 2,986,641 74,821 - 962,169 - - - 523,178 5,15 (169,048) 17,898 (127,249) (106,487) - - (3,651) (12,115) - (41,453) 83,173 71,529 581,052 (195,808) 1,84 (2,283) 1 Q,815 - - (161,938) - 127,624 255 (205) 3,797 (22,102) - (137,309) - 13,028 (64,281) 8,170 (961) (57,290) - - 4,08 - 58,310 371,978 123,323 583,903 4,455,543 449,670 $ (435,462) $ 208,646 $ 999,186) $ - $ 2,500 $ - $ - $ (798) - - $ 196,342 $ 1,124,592 $ 2,144,233 - 4,99,Q59 - $ 196,342 $ 5,823,651 $ 2,144,233 C-27 COUNTY,MONROE ICOMMISSIONERS STATEMENT FIDUCIARY ASSETS FIDUCIARY SEPTEMBER 30, 2010 Fire and EMS Pension Trust ASSETS Cash and Cash Equivalents 62,420 Investments 763,409 Interest Receivable 2,26 Total Assets 848,255 LIABILITIES Clue to Others 150 T ASSETS Held in Trust for Pension Benefits and Other Purposes 848,105 Total Net Assets $ 848,105 The notes to the financial statements are an integral part of those statements. C-26 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS FIDUCIARY ®, FOR THE YEAR ENDED SEPTEMBER 30,2010 Fire and EMS Pension Trust Fund Additions: Employer Contributions $ 28,914 Investment Income 7,669 Total Additions 36,-5i3-3 Deductions: Administration (8,708) Pension Benefits (19,590) Total Deductions (28,298) Change in Net Assets 8,285 Total Net ssets® October 1 839,820 Total Net Assets- September 30 848,105 The notes to the financial statements are an integral part of these statements. C-29 - �,: ,� s � MONROE COUNTY, FLURIDA- �;101 W#11�_Eka Notes To Financial Statements For the Year Ended Septern ber 30, 2010 M The following summary of the more significant accounting policies of the Monroe County, Florida Boa of County Commissioners (Board) is presented to assist the reader in interpreting these financi statements and should be viewed as an integral part of this report. I E2P2!:U1 i1iet� Monroe County, Florida (County) is a Non -Charter County established as provided by Article Vill Section 1 of the Florida Constitution and Section 125 of the Florida Statutes. The primary government of the County is comprised of the Board of County Commissioners and five "constitutional officers" as follows: Clerk of the Circuit Court, Property Appraiser, Sheriff, Supervisor of Elections and Tax Collector. Entity status for financial reporting purposes is governed by Statement No. 14 of the Government Accounting Standards Board (GASB) and Rules of the Auditor General, State of Florida. The GASB the standard -setting body for the establishment of accounting principles generally accepted in t T United States of America (GAAP) for governmental entities. The financial statements of the Boar when combined with all of its blended component units and the constitutional officers, constitute t "primary government" of Monroe County according to GAAP. The primary government, together wil the Board's discretely -presented component unit, constitutes the complete GAAP basis financi, reporting entity of the County which is presented in the Monroe County, Florida Comprehensive Annu,*01 Financial Report. e These financial statements include all funds of the Board and its "blended" and "discrete" compon I units, if material. "Component units" are legally separate entities for which operational or financi responsibility rests with the Board or for which the nature and significance of their relationship to t Board is such that exclusion would cause the financial statements to be misleading or incomplete. Since this report excludes the constitutional officers, these Board financial statements do not purport to reflect the financial position or the results of operations of Monroe County, Florida taken as a whole. Rather, they have been prepared to provide information at this level of detail greater than what is ;ivailable in the County's financial statements, The Board of County Commissioners, composed of five members, is the legislative body for Monroe County and as such budgets and provides funding used by the separate Constitutional Offices with the exception of fees collected by the Clerk of the Circuit Court and the Tax Collector. Under the direction of the Clerk of the Circuit Court, the Monroe County Finance Department maintains the accounting system for the Board's operations, but excluding those of the Property Appraiser, Sheriff, Tax Collector, Clerk of the Circuit Court and Supervisor of Elections, each of which maintains its own accounting system. I R-1011 "MR1111101"W W4 ILYA itz W I I .. f III r I i I i i i 1. r f "I'll, - rflfi,1111 WIN, Monroe Countv, Florida Comprehensive Plan Land Authority LUQ�LA - The MCLA was created by Monroe County, Florida Ordinance 031-1986 pursuant to Florida Statute 380 and is considered a legally separate entity from Monroe County. Its purpose is to operate a land acquisition program in Monroe County, to implement the Monroe County Comprehensive Plan and address issues created by it. The Monroe County Board of County Commissioners serves as the governing board and is able to impose its will. Therefore, the MCLA, for financial reporting purposes, is considered a blended component unit of Monroe County, Florida and is presented as a special revenue fund of the Board and the County. Complete financial statements for MCLA can be obtained from MCLA's administrative office at 1200 Truman Avenue, Ste. 207, Key West, Florida 33040. Monroe Countv Industrial Development Authorily_(MCIDAI - The MCIDA was created by Monroe County, Florida Resolution pursuant to Florida Statute 159. The MCIDA serves to assist in financing and refinancing capital projects, which will foster economic development in the County. The Monroe County Board of County Commissioners serves as the governing board and is able to impose its will. Therefore, the MCIDA for financial reporting purposes is considered a blended component unit of Monroe County, Florida. The MCIDA is not legally required to adopt a budget; however, the Board must authorize the issuance of bonded debt. Neither the MCIDA nor the Board has any legal obligation for repayment of the revenue bonds of the MCI DA. As an issuer of 11 conduit" debt obligations, the MCIDA has no assets or liabilities. D is cretely -presented component units are legally separate entities, which do not meet the criteria for blending. The Monroe County Housing Finance Authority (Authority) qualified in previous years as a discretely presented component unit of the Board, but was immaterial to the Board and had been excluded from the statements. Currently the Authority has been abolished. It was created in 19797 Pbolished in 1993, re-established in 1995 and ag ain abolished in 2007. The Board's financial statements are prepared in accordance with Chapter 10.550, Rules of the Auditor General — Local Governmental Entity Audits (The "Rules"), which do not require separate financial statements for the Board but which specify certain requirements if such financial statements are presented. Requirements include presentation of fund -level and component unit financial statements. Government -wide financial statements, related disclosures and management's discussion and analysis are not required by the Rules and are not presented. As such, these statements present information about the Board's funds, including fiduciary funds, but do not present a complete presentation of the Board's financial position and changes in financial position. Separate columns are presented for each major governmental fund and for each major enterprise fund. W MONROE COUNTY, FLORIDA MR4104 General Fund - The General Fund is the general operating fund of the Board. All general tax revenues and other receipts that are not required either legally or by accounting principles generally accepted in the United States of America to be accounted for in other funds are accounted for in the General Fund. Fine and Forfeiture Special Revenue Fund - The Fine and Forfeiture Fund is used to account for revenues received from fines and forfeitures imposed from the commission of statutory offenses, ad valorem taxes that are transferred to the Sheriff and to account for operations of the County's court support system. Road and Bridae Sr)ecial Revenue Fund - The Road and Bridge Fund is used to account for revenues, operating expenditures and capital improvements for the construction a maintenance of roads and bridges which are not grant funded. Governmental Grants Special Revenue Fund - The Governmental Grant Fund is used account for operating revenues and expenditures for all governmental activity of federal a state grants. Comprehensive Plan Land Authoritv Soecial Revenue Fund — The Comprehensive Plan La Authority Fund is used to operate a land acquisition program. One Cent Infrastructure Surtax Capital Proiect Fund - The One Cent Infrastructure Surtax Fun is used to account for capital improvements funded by the One Cent Infrastructure Surtax. Infrastructure Sales Surtax Revenue Bonds, Series 2007 Capital Prooect Fund — Th Infrastructure Sales Surtax Revenue Bonds, Series 2007 Capital Project Fund is used account for the proceeds of this bond issue. All Debt Service Funds — The All Debt Service Funds Debt Service Fund is used to account accumulation of resources for, and payment of, interest and principal on the long-term de incurred in the issuance of various revenue bonds. MVMZMEZZ�M Munigjpal Service C7istrict-i(Vaste - 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. The Key West Airport Fund is used to account for the operations of Monroe County's Key West International Airport. Marathon Airport - The Marathon Airport Fund is used to account for the operations of Monroe County's Marathon Airport, AN MONROE COUNTY, FLORIDA Non -exchange transactions, in which the board gives (or receives) value without directly receiving giving) equal value in exchange, include grants. On an accrual basis, revenue from grants recognized in the fiscal year in which all eligibility requirements have been satisfied. Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the Board's enterprise funds are charges to customers for sales and services. Operating expenses for enterprise funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. Under the terms of the grant agreements, the Board funds certain programs by a combination o? specific cost -reimbursement grants, categorical block grants, and general revenues. Thus when program expenses are incurred, there are both restricted and unrestricted net assets available to finance the program. It is the Board's policy to first apply cost -reimbursement grant resources to such programs, followed by categorical block grants, and then by general revenues. Use of Estimates - The presentation of financial statements in conformity with accounting principIdM generally accepted in the United States of America, as applicable to governmental units, requir management to make use of estimates that affect the reported amounts in the financial statement] Actual results could differ from estimates. Budqets and Budqetary Data - The following are the statutory procedures followed by the Board of County Commissioners in establishing the budget for Monroe County. 1) On or before June I of each year the Sheriff, the Clerk of the Circuit Court, the Tax Collector, and the Supervisor of Elections shall each submit to the Board a tentative budget for their respective offices for the ensuing fiscal year. 2) Within fifteen days after certification of the ad valorem tax roll by the Property Appraiser, the County Budget Officer submits to the Board a proposed budget for the fiscal year commencing the following October 1. The budget includes proposed expenditures and the means of financing them. 3) By Board resolution, a tentative budget is submitted to the public. Public hearings are held to obtain taxpayer comments. 4) Fifteen days after adoption of the tentative budget, a final budget is submitted for review and adoption at a final public hearing. 5) Prior to, or on September 30, the Board's budget is legally enacted through passage of a resolution. Accordingly all fund types have an adopted budget as required by Florida Statute 129.03, All funds have legally adopted budgets. MR