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Fiscal Year 2009MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Financial Statements For The Year Ended September 30, 2009 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Financial Statements For The Fiscal Year Ended September 30, 2009 TABLE OF CONTENTS Table of Contents Basic Financial Statements Independent Auditors' Report 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 Road and Bridge Fund Governmental Grants Fund Statement of Net Assets - Proprietary Funds Statement of Revenues, Expenses and Changes in Fund Net Assets - Proprietary Funds Statement of Cash Flows - Proprietary Funds Statement of Fiduciary Net Assets - Fiduciary Funds Statement of Changes in Fiduciary Net Assets - Fiduciary Funds PAGE A-1 - A-3 B-1 - B-2 C-1 - C-2 C-3 - C-4 C-5 - C-9 C-10 - C-11 C-12 C-13 - C-15 C-16 - C-19 C-20 - C-21 C-22 - C-25 C-26 C-27 Notes to the Statements D-1 - D-35 Combining and Individual Fund Statements and Schedules: Schedules of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual One Cent Infrastructure Surtax Capital Project Fund E-1 Infrastructure Sales Surtax Revenue Bonds, Series 2003 Capital Projects Fund E-2 Infrastructure Sales Surtax Revenue Bonds, Series 2007 Capital Projects Fund E-3 Big Coppitt Wastewater Project Capital Projects Fund E-4 Combining Balance Sheet - NonMajor Governmental Funds F-1 - F10 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - NonMajor Governmental Funds F-11 - F-20 (Continued) A-1 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Financial Statements For The Fiscal Year Ended September 30, 2009 TABLE OF CONTENTS - Continued Combining and Individual Fund_ Statements and Schedules (Continued): 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 Fund Local Housing Assistance Municipal Policing 911 Enhancement Fees Duck Key Security District Boating Improvement Miscellaneous Special Revenue Environmental Restoration Law Enforcement Trust Court Facility Fees Drug Abuse Trust Marathon Municipal Service Taxing Unit Bay Point Municipal Service Taxing Unit Big Coppitt Municipal Service Taxing Unit PAGE F-21 F-22 F-23 F-24 F-25 F-26 F-27 F-28 F-29 F-30 F-31 F-32 F-33 F-34 F-35 F-36 F-37 F-38 F-39 - F-40 F-41 F-42 F-43 F-44 F-45 F-46 F-47 F-48 F-49 F-50 F-51 F-52 F-53 F-54 (Continued) A-2 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Financial Statements For The Fiscal Year Ended September 30, 2009 TABLE OF CONTENTS - Continued Combining and Individual Fund Statements and Schedules (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 Comprehensive Plan Land Authority Fund Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual All Debt Service Funds 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 OTHER REPORTS PAGE F-55 F-56 F-57 F-58 F-59 F-60 F-61 F-62 F-63 G-1 - G-2 G-3 - G-4 G-5 - G-8 Independent Auditors' Report on Compliance and on Internal Control over Financial Reporting Based on an Audit of Basic Financial Statements Performed in Accordance with Govemment Auditing Standards H-1 - H-2 Independent Auditors' Management Letter H-3 - H-5 A-3 BASIC FINANCIAL STATEMENTS Independent Auditors' Report To the Clerk Ex Officio, Mayor and Board of County Commissioners of Monroe County, Florida: We have audited the accompanying financial statements of each major fund and aggregate remaining fund information of the Monroe County, Florida Board of County Commissioners (the "Board") as of and for the year ended September 30, 2009, which collectively comprise the Board's basic financial statements as listed in the table of contents. These financial statements are the responsibility of the Board's management. 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 includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and the significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinions. As discussed in Note 1, the accompanying financial statements were prepared for the purpose of complying with Section 218.39(2), Florida Statutes, and Chapter 10.550, Rules of the Auditor General, General -Local Governmental Entity Audits, and are not intended to be a complete presentation of the financial position of Monroe County, Florida, and the results of its operations and the cash flows of its proprietary funds in conformity with accounting principles generally accepted in the United States of America. 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, 2009, and the respective changes in its financial position, and cash flows, where applicable, thereof and the respective budgetary comparison for the General Fund, Fine & Forfeiture Fund, Road & Bridge Fund, and the Governmental Grants Fund for the year then ended in conformity with accounting principles generally accepted in the United States of America. B-1 In accordance with Government Auditing Standards, we have also issued our report dated March 31, 2010, 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 the results of our audit. 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 financial 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 financial 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. Orlando, Florida March 31, 2010 B-2 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS BALANCE SHEET GOVERNMENTAL FUNDS SEPTEMBER 3012009 Assets Cash and Cash Equivalents Investments Accounts Receivable, Net Due 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 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 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 Total Liabilities and Fund Balances General Fine $ Forfeiture Road & Bridge Governmental Grants $ 7,281,759 $ 2,284,494 $ 154,088 $ 259,571 17,170,220 12,247,446 4,868,980 2,264,497 34,716 1,107,129 - 1,434 78,889 - - 322,333 1,038,492 458,510 487,688 1,528,859 4,382,228 1,863,688 - - - - - - 107,837 - - - (107,837) 160,915 132,971 43,723 19,638 2,472 - - - $ 30,149,691 $ 18,094,238 $ 5,554,479 $ 4,386,332 $ 1,088,679 $ 95,753 $ 131,454 $ 340,643 9,101 - 29,180 2,490 508,113 58,088 67,479 58,074 466,907 - 1,848 619,841 12,953 - 1,137 64,801 9,011 15,512 - 162,990 369 - - - 12,344 - 750 - 1,816 1,003,719 - 1,243,561 2,109,293 1,173,072 231,848 2,492,400 1,032 56,845 34,289 1,720,815 28,039,366 16,864,321 5,288,342 173,117 28,040,398 16,921,166 5,322,631 ' 1,893,932 $ 30,149,691 $ 18,094,238 $ 5,554,479 $ 4,386,332 The notes to the financial statements are an integral part of these statements. C-1 One Cent Infrastructure Infra Sis Srtx Big Coppitt Nonmajor Total Infrastructure Revenue Bonds Revenue Bonds Wastewater Governmental Governmental Surtax Series 2003 Series 2007 Project Funds Funds $ 2,171,402 $ 1,947,988 $ 4,556,097 $ 506,613 $ 12,790,762 $ 31.951,774 14,170,165 - 15,417,571 8,682,841 44,293,926 119,105,646 - - - - 439,687 1,582,966 433,036 - - 4,401 577,193 1,415,852 1,067,880 - 133,316 15 2,455,177 7,169,937 - - - - 647,125 6,893,041 - - - - 13,849,696 13,957,533 - - - - (7,109,117) (7,216,954) 141,482 33,407 92,606 27,099 384,612 1,036,453 - - - - - 2,472 $ 17,983,965 $ 1,981,395 $ 20,199,59.0 $ 9,219,969 $ 68,329,061 $ 175,898,720 $ 1,010,673 $ - $ 3,831,131 $ 1,095,816 $ 2,604,986 $ 10,199,135 736,687 866,771 160,554 - - 1,804,783 18,419 2,080 2,002 - 602,163 1,316.418 375 - - 112,779 130,707 1,332,457 - - - - 127,139 206,030 - - - - 140,343 327,856 - - - - - 369 - - - - 2,349 15,443 - - - - 336,215 2,585,311 1,766,154 868,851 3,993,687 1,208,595 3,943,902 17,787,802 146,185 597,634 929,214 5,211,615 549,285 9,246,914 - - - - 2,522,915 2,522,915 - - - - 6,740,579 6,740,579 - - - - 3,430,403 3,430,403 - - - - 481,367 481,367 16,071,626 514,910 15,276,689 2,799,759 - 85,028,130 50,555,908 50,555,908 - - - - 104,702 104,702 16,217,811 1,112,544 16,205,903 8,011,374 64,385,159 158,110,918 $ 17,983,965 $ 1,981,395 $ 20,199,590 $ 9,219,969 $ 68,329,061 $ 175,898,720 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, 2009 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 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 Transfers to Constitutional Officers Total Other Financing Sources/(Uses) Net Change in Fund Balances Fund Balances -October 1 Fund Balances -September 30 General Fine & Forfeiture Road & Bridge Governmental Grants $ 31,081,383 $ 39,235,622 $ 1,256,384 $ - 482,923 - - - 6,739,331 27,348 3,502, 308 11,158, 684 878,498 1,555,723 85,329 152,044. 10,293 262,273 - - 487,509 482,674 125,205 51,930 643,055 6,312 71,849 28,146 40,322,992 41,569,952 5,041,075 11,390,804 13,148,238 498,707 - 19,348 935,747 7,484,649 - 412,121 207,141 - 10,760 206,235 190,841 - 4,058,998 456,163 591,467 - - 125,338 5,351,472 - - 1,770,551 2,623,921 - - 58,619 2,579,942 40,736 - 17,656 165,326 - - - 25,794,095 8,024,092 4,069,758 3,066,031 14,528,897 33,545,860 971,317 8,324,773 4,770,230 130,974 - 396,076 (205,975) (20,430) (738,739) (5,798,170) 4,354,298 1,843,462 - - (11,877,477) (37,604,717) - (202,383) (2,958,924) (35,650,711) (738,739) (5,604,477) 11,569,973 (2,104,851) 232,578 2,720,296 16,470,425 19,026,017 5,090,053 (826,364) 28,040,398 ^$ 16,92�- 5,322,631 $ . 1,893,932 The notes to the financial statements are an integral part of these statements. C-3 One Cent Infrastructure Infra Sls Srtx Big Coppitt Nonmajor Total Infrastructure Revenue Bonds Revenue Bonds Wastewater Governmental Governmental Surtax Series 2003 Series 2007 Project Funds Funds $ 13,702,434 $ - $ - $ - $ 28,914,175 $ 114,189,998 - - - - 2,597,210 3,080,133 - - 250,048 27,074 7.337,359 29,042,152 - - - - 5,973,666 8,645,260 - - - - 706,865 979,431 467,819 7,474 548,293 472,143 1,275,786 3,918,833' 854,842 3,703 - 657,065 811,243 3,076,215 15,025,095 11,177 798,341 1,156,282 47,616,304 162,932,022 4,827,947 18,494,240 12,464,694 21,297,211 - - - - 1,792,326 2,216,462 - -. - - - 4,706,002 - - - - 18,267,683 18,984,488 - - - - 357,831 7,479,854 - - - - 1,74.1,518 4;424,058 - - - - 491,997 3,130,331 4,988,226 2,244,878 9,418,607 11,493,089 88,091 28,232,891 - - - - 7,036,249 7,201,575 4,988,226 2,244,878 9,418,607 11,493,089 47,068,336 116,167,112 10,036,869 (2,233,701) (8,620,266) (10,336!807) 547,968 46,764,910 545,851 3,040,424 2,727 4,585,356 6,778,236 20,249,874 (11,907,644) - - - (2,972,599) (21,643,457) - - - - 576,684 6,774,444 - - - - (7,084,777) (56,769,354) (11,361,693) 3,040,424 2,727 4,585,356 (2,702,456) _ (51,388,493) (1,324,824) 806,723 (8,617,539) (5,751,451) (2,154,488) (4,623,583) 17,542,635 305,821 24,823,442 13,762,825 66,539,647 162,734,501 $ 16,217,811 $ 1,112,,544 _ $ - 16,205:903 $ 8,011,374 $ 64,385.159 1 158 110 918 C-4 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS GENERALFUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2009 REVENUES: Taxes Licenses and Permits Intergovernmental Charges for Services Fines and Forfeitures Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: 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 Value Adjustment Board Lobbyist Wind Storm Actuarial Promotional Advertising Tax Increment Payment Quasi External Services Clerk to BOCC-Financial Package Tax Collector Property Appraiser Insurances -Supervisor of Elections Gov't Enterprise Management System Total General Government Original Final Budget Budget Actual Variance with Final Budget Positive (Negative) $ 32,337,850 $ 32,337,850 $ 31,081,383 $ (1,256,467) 350,000 350,000 482,923 132,923 6,524,907 6,524,907 6,739,331 214,424 525,000 535,960 878,498 342,538 10,000 10,000 10,293 293 600,000 600,000 487,509 (112,491) 600,000 775,435 643,055 132,380 40,947,757 41,134,152 40,322,992 (811,160) 1,642,195 1,596,195 1,348,414 247,781 561,624 566,624 557,069 9,555 122,890 123,890 123,275 615 1,181,101 1,181,101 1,033,440 147,661 372,466 417,466 394,020 23,446 1,523,928 1,523,928 1,393, 226 130,702 160,000 160,000 59,716 100,284 103,218 58,218 38,133 20,085 334,182 334,182 326,790 7,392 209,827 209,827 202,547 7,280 6,577,974 6,572,024 5,918,121 653,903 72,100 72,100 27,032 45,068 - 82,000 35,000 . 47,000 - 150,000 46,456 103,544 5,000 5,000 1,823 3,177 360,200 372,200 372,200 - 60,000 105,000 101,480 3,520 5,000 5,000 - 5,000. 630,669 630,669 536,212 94,457 566,062 566,062 494,978 71,084 122,185 117,185 114,949 2,236 35,000 _ 46,000 23,357 22,643 14,645,621 14,894, 671 13,148,238 1,746,433 (Continued) The notes to the financial statements are an integral part of these statements. C-5 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS GENERALFUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2009 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Public Safety: Hurricane 100,000 100,000 - . 100,000 Emergency Management 204,063 201,363 176,786 24,577 Marathon Emer Operations Center 70,315 70,315 33,246 37,069 Medical Examiner 649,750 649,750 581,447 68,303 American Red Cross Lower Keys 5,000 5,000 5,000 - Fire Academy 310,678 310,678 1-39,268 171,410 Total Public Safety 1,339,806 1,337,106 935,747 401,359 Physical Environment: Extension Service 186,485 186,485 179,781 6,704 Upper Keys Wild Bird Ctr 9,120 9,120 9,120 - Marathon Wild Bird Ctr 9,120 9,120 9,120 - Exotic Wild Bird Rescue 9,120 9,120 9,120 - Total Physical Environment 213,845 213,845 207,141 6,704 Transportation: County Engineer 245,242 401,242 190,841 210,401 Economic Environment: Literacy Volunteers of America 4,000 4,000 4,000 - Veteran's Affairs 485,112 481,612 448,975 32,637 Veteran's Affairs Transportation 132,964 139,869 138,492 1,377 Total Economic Environment 622,076 _ _ 625�481 591,467 34,014 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 947,485 947,485 941,446 6,039 Bayshore Manor 691,451 691,451 669,909 21,542 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 340,000 340,000 340,000 - GCMK Bakermrchmn Transp 48,000 146,000 126,764 19,236 Care Center for Mental Health 280,000 280,000 277,600 2,400 Monroe Cnty Assoc. for Retarded Citizens 148,000 148,000 148,000 - (Continued) The notes to the financial statements are an integral part of these statements. C-6 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS GENERALFUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2009 Heron/ Peacock Older Americans Volunteer Program Welfare Administration Welfare Services Florida Keys Children's Shelter Wesley House MCEF/ Monroe Youth Challenge Helpline Domestic Abuse Shelter Florida Keys Outreach Coalition Samuel's House Womankind Rural Health Network Rural Health Network STD Social Service Transportation Keys Area Interdenominational Resources FL Keys Healthy Start Coalition Just for Kids MCSB Pace Easter Seals Society Health Department Lease Aids Help Center for Independent Living Good.Health Clinic FL Keys Area Hlth Educ Ctr Total Human Services Culture 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 Original Final Budget Budget Actual Variance with Final Budget Positive (Negative) 50,000 53,122 53,122 - 500 500 128 372 377,288 419,588 405,604 13,984 540,000 497,700 209,121 288,579 148,000 148,000 148,000 - 128, 000 128,000 127,997 3 16,087 16,087 16,087 - 4,000 4,000 4,000 - 34,000 34,000 341'000 - 30,000 30,000 301000 - 83, 000 86,122 86,122 - 70,000 70,000 70,000 - 273,600 273,600 273,600 - 60,000 60,000 60,000 - 685,574 685,574 604,675 80,899 4,000 4,000 4,000 - 5,000 5,000 5,000 - 49,400 49,400 46,923 2,477 34,000 34,000 34,000 - 10,000 10,000 10,000 - 58,929 69,889 69,888 1 27,000 27,000 27,000 - 4,000 4,000 4,000 - 35,000 35,000 34,966 34 30,000 30,000 30,000 - 5,711,834 5,827,038 5,351,472 475,566 30,400 30,400 30,400 34,711 34,711 34,711 - 40,000 75,000 70,076 4,924 11,400 11,400 11,400 - 2,753 47,703 39,426 8,277 3,800 3,800 21717 1,083 3,800 3,800 2,178 1,622 3,800 3,800 1,697 2,103 (Continued) The notes to the financial statements are an integral part of these statements. C-7 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS GENERALFUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2009 Upper Keys AARP Fine Arts Council Historic Keys Foundation Pigeon Key Foundation Library Admin Support Library Key West Library Key West Donations Library Marathon Library Marathon Donations Library Islamorada Library Islamorada Donations Library Key Largo Library Key Largo Donations Library Big Pine Key Library Big Pine Key Donations Total Culture and Recreation Court Related: Law Library Guardian Ad Litem State Attorney Public Defender Court Administration Court Admin-Judicial Support Court Admin-Circuit Ct Reporter Svcs Court Admin-Circuit Drug Court Court Admin-Pretrial Release Court Admin-Family Ct Case Mgmt Ct. Admin-Other Circuit Court Juvenile Ct. Admin-Pretrial Svcs Drug Diversion Court Admin-Information Systems Total Court Related Debt Service: Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) 3,800 3,800 - 3,800 57,000 57,000 57,000 - 28,500 28,500 28,500 - 40,000 40,000 40,000 - 518,365 517,760 509,892 7,868 660,017 660,017 633,957 26,060 - 118,108 59,070 59,038 273,996 273,996 257,053 16,943 - 14,962 43 14,919 243,328 243,328 241,833 1,495 - 495 - 495 351,761 351,761 343,867 7,894 - 4,186 - 4,186 280,795 280;795 258,540 22,255 - 7,978 1,561 6,417 2,588,226 2,813,300 2,623,921 189,379 53,656 54,261 53,780 481 159,094 159,094 158,712 382 338,330 338,330 304,691 33,639 485,497 499,402 498,024 1,378 7,101 7,101 5,600 1,501 147,172 147,172 144,595 2,577 1,675 1,675 1,600 75 437,200 437,200 403,884 33,316 502,563 502,563 498,156 4,407 170,522 170,522 168,728 1,794 49,029 49,029 471371 1,658 120,970 120,970 103,851 17,119 195,068 195,068 190,950 4,118 2,667,877 2,682,387 2,579,942 102,445 Principal 199,615 199,615 159,947 39,668 Interest 14,414 14,414 5,379 9,035 Total Debt Service 214,029' 214,029 165,326 48,703 The notes to the financial statements are an integral part of these statements. (Continued) C-8 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS GENERALFUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2009 . Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses). Reserve for Contingencies Transfers from Other Funds Transfers to Other Funds Transfers from Constitutional Officers Transfers to 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) 28, 248, 556 29, 009, 099 25,794, 095 3,215,004 12,699,201 12,125,053 14,528,897 2,403,844 (9,227,050) (8,791,446) - 8,791,446 4,722,918 4,764,162 4,770,230 6,068 (500,000) (402,700) (205,975) 196,725 3,500,000 3,500,000 4,354,298 854,298. (12,972,681) (12,972,681) (11,877,477) 1,095,204 (14,476,813) (13,902,665) (2,958,924) 10,943,741 (1,777,612) (1,777,612) 11,569,973 13,347,585 1,777,612 1,777,612 16,470,425 14,692, 813 $ - $ $ 28,040,398 $ 28,040,398 The notes to the financial statements are an integral part of these statements. C-9 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS FINE AND FORFEITURE SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2009 REVENUES: Taxes Intergovernmental Charges for Services Fines and Forfeitures Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: General Government: Tax Increment Payment Public Safety: Sheriff Law Enforcement Sheriff Corrections Sheriff Court Security Bond Refunds LEEA Funds Public Works Correction Facilities Medical Air Transport Key West School Crossing Guard Interagency Communications. Juvenile Detention Cost Share Total Public Safety Court Related: Sheriff Extradition Total Expenditures Excess/Deficiency of Revenues . Over/(Under) Expenditures Other Financing Sources/(Uses): Original Final Budget Budget Actual Variance with Final Budget Positive (Negative) $ 40,960,115 $ 40,960,115 $ 39.235,622 $ (1,724,493) 40,000 40,000 27,348 (12,652) 2,781,911 2,781,911 1,555,723 (1,226,188) 250,000 250,000 262,273 12,273 700,000 700,000 482,674 (217,326) - 52,106 6,312 (45,794) 44,732,026 44,784,132 41;569,952 (3,214,180) 635,000 635,000 498,707 136,293 2,385,143 2,385,143 2,385,143 - 2,208,876 2,208,876 1,882,225 326,651 258,824 258,824 246,561 12,263 25,000 25,000 - 25,000 75,000 - 75,000 75,000 - 1,796,550 1,796,550 1,652,382 144,168 722,514 1,034,484 907,267 127,217 249,777 - - 483,324 54,389 16,617 37,772 470,702 466,939 3.19,454 147,485 8,675,710 8,305,205 71484,649 820,556 50,000 50,000 40,736 9,264 9,360,710 8,990,205 8,024,092 966,113 35,371,316 35,793,927 331545,860 _ K2,248,067) Reserve for Contingencies (9,249,037) . (9,148,844) - 9,148,844 Transfers from Other Funds - 130,974 130,974 Transfers to Other Funds (16,667) (20,430) (20,430) - (Continued) The notes to the financial statements are an integral part of these statements. C-10 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS FINE AND FORFEITURE SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED FOR THE YEAR -ENDED SEPTEMBER 30, 2009 Original Final Budget Budget Variance with Final Budget Positive Actual (Negative) Transfers from Constitutional Officers 750,000 750,000 1,843,462 1,093,462 Transfers to Constitutional Officers 36,086,952 (37,679,678) (37,604,717) 74,961 Total Other Financing Sources/(Uses) _ (44,602,656) 46,098,952 35,650,711 10,448,241 Net Change in Fund Balances (9,231,340) (10,305,025) (2,104.851) 8,200,174 Fund Balances, October 1 9,231,340 10,305,025 19,026,017 8,720,992 Fund Balances, September 30 $ - $ - $16,921,166 $ 16,921,166 The notes to the financial statements are an integral part of these statements. C-11 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS ROAD AND BRIDGE SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2009 Revenues: Taxes Intergovernmental Charges for Services Investment Income Miscellaneous Total Revenues Expenditures: Physical Environment Key Deer Blvd Stmwtr Grant Transportation: Road Department County Engineer Road and Bridge Street Lighting Local Option Gas Tax Projects 80% Gas Tax Islamorada Roads Total Transportation Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Transfers from Other Funds Transfers to Other Funds Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 1,338,003 $ 1,338,003 $ 1,256,384 $ (81,619) 3,349,999 3,367,499 3,502,308 134,809 4,000 4,000 85,329 81,329 100,000 100,000 125,205 25,205 56,002 56,002 71,849 15,847 4,848,004 4,865,504 5,041,075 175,571 17,500 10,760 6,740 2,556,988 2,556,988 2,282,431 274,557 575,060 575,060 414,233 160,827 253,657 253,657 226,709 26,948 2.50,000 250,000 120,086 129,914 534,687 958,347 507,276 451,071 968,946 543,946 508,263 35,683 5,139,338 5,137,998 4,058,998 1,079,000T 5,139,338 w 5,155,498 4,069,758 1,085, 740 291334 (289,994) 971,317 _ 1,261,311 (500,000) (500,000) - 500,000 1,660 - (1,660) (795,666) (798,666) (738.739) 59,927 Total Other Financing Sources/(Uses) _ (1,295,666) (1,297,006) _ (738,739) ' 558,267 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (1,587,000) (1,587,000) 232,578 1,819,578 1,587,000 1,587,000 5,090,053 3,503,053 $ - $ - $ 5,322,631 $ 5,322,631 The notes to the financial statements are an integral part of these statements. C-12 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS GOVERNMENTAL GRANTS SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2009 Revenues: Intergovernmental Charges for Services Investment Income Miscellaneous Total Revenues Expenditures: Current: General Government: Mthn Garage Door Retrofit Public Safety: Emergency Management Base Grant Radiological Emerg Preparedness EMS Award Grant EMS Matching Grant Emergency Mgmt Performance Grant MCDC Overhead Door Retrofit Homeland Security Grant Homeland Security Grant ODP UASI 06 Grant ODP UASI 07 Grant FEMA-Hurricane Dennis FEMA-Hurricane Katrina FEMA-Hurricane Rita FEMA-Hurricane Wilma FEMA-Tropical Storm Fay FEMA-Hurricane Ike Total Public Safety Physical Environment: FDOT Stormwater Improve Project Exotic Plant Control Svc Clean Vessel Act LE 655 Total Physical Environment Variance with Final Budget Original Final Positive Budget Budget Actual (Negative} $ - $ 29,615,021 $ 11,158,684 $ (18,456,337) - 179,402 152,044 (27,358) 1,000 1,000 51,930 50,930 - 140,891 28,146 (112,745) _ 1,000 29,936,314 11,390,804 (18,545,510) 23,880 19,348 4,532 - 131,055 130,959 96 - 142,606 116,968 25,638 - 120,785 23,740 97,045 - 110,000 - 110,000 - 4,455 4,455 - - 18,982 15,052 3,930 - 17,500 - 17,500 - 180,242 35,978 144,264 - 15,231 12,725 2,506 - 210,448 14,999 195,449 - 1,084,666 842 1,083,824 - 887,004 26 886,978 - 703,704 51 703,653 - 12,506,346 2,424 12,503,922 - 47,050 32,322 14,728 - 40,000 21,580 18,420 - 16,220,074 412,121 15,807,953 - 2,000,000 - 2,000,000 - 348,623 169,127 179,496 - 57,000 37,108 19,892 - 2,405 623 _ 206,235 2,199,388 The notes to the financial statements are an integral part of these statements. (Continued) C-13 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS GOVERNMENTAL GRANTS SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2009 Transportation: Geiger Creek Bridge Repair Palm Drive Bay Point Bridge Repair Sunset Point Park Boat Ramp Safety Improvement Heritage Trail Transp Planning Prog 07-09 Bicycle/Pedestrian Plan 2 Overseas Heritage Trail Pigeon Key Ferry Service Roads Disaster Relief Program Total Transportation Economic Environment:. FEMA Severe Repetitive Loss Affordable Housing Coordinator . Total Economic Environment Human Services: Residential Substance Abuse Treatment Title III-B 2008 Title 111-B 2009 Title III-Cl 2008 Title 111-C1 2009 Title III-C2 2008 Title III-C2 2009 Title III-E 2008 Title Ill-E 2009 Alzheimer's Disease Initiative 08/09 Alzheimer's Disease Initiative 09/10 Community Care for Disabled Adults 07108 Community Care for Disabled Adults 09/10 Community Care for the Elderly 08/09 Community Care for the Elderly 09/10 Home Care for the Elderly 08/09 Home Care for the Elderly 09/10 MC Education. Foundation Low Income Home Energy Program 08/09 Low Income Home Energy Program 09/10 ARRA 929 C2 OAA 09/10 Total Human Services Original Final Budget Budget Actual Variance with Final Budget Positive (Negative) - 768,500 - 768,500 - 299,620 - 299,620 - 185,240 33,167 162,073 - 23,303 - 23,303 - 770,473 139,604 630,869 - 164,138 - 164,138 - 342,040 - 342,040 - 522,137 283,392 238,745 - 233,972 - 233,972 - _ 3,309,423 456,163 2,853,260 149,479 125,338 24,141 45,081 - 45,081 194,560 125,338 69,222 - 66,667 66,667 - - 50,983 25,184 25,799 - 109,569 81,060 28,509 - 43,068 43,031 37 - 147,466 128,577 18,889 - 65,298 65,250 48 - 215,374 140,342 75,032 - 13,354 8,753 4,601 - 54,560 36,659 17,901 - 59,315 58,931 384 - 56,746 14,665 42,081 - 38,263 21,260 17,003 - 90,814 57,994 32,820 520,189 512,502 7,687 - 516,825 170,724 346,101 - 12,119 12,119 - - 10,722 5,213 5,509 - 50,000 44,995 5,005 - 15,052 15,052 - - 370,287 259,005 111,282 - 3,000 2,568 432 - 2,509,671 1,770,551 739,120- (Continued) The notes to the financial statements are an integral part of these statements. C-14 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS GOVERNMENTAL GRANTS SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - CONTINUED FOR. THE YEAR ENDED SEPTEMBER 30, 2009 Culture and Recreation: State Aid to Libraries Court Related: Juvenile Drug Court Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Original Final Budget Budget Actual Variance with Final Budget Positive (Negative) 134,421 58,619 75,802 41,447 17,656 23,791 24,839,099 3,066,031 __ _21,773,068 1,000 5,097,215 8,324,773 3,227,558 Reserve for Contingencies (1,000) - - - Transfers from Other Funds - 2,641,442 396,076 (2,245,366) Transfers to Other Funds - (7,440,597) (5,798,170) 1,642,427 Transfers to Constitutional Officers - (298,060) _ (202,383) 95,677 Total Other Financing Sources/(Uses) (1,000) _ (5,097,215) (5,604,477) _(507,262) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 2,720,296 2,720,296 (826,364) (826,364) $ - $ - $ 1,893,932 $ 1,893,932 The notes to the financial statements are an integral part of these statements C-15 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF NET ASSETS PROPRIETARY FUNDS SEPTEMBER 30, 2009 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 Due from Constitutional Officers Interest Receivable Total Current Assets Noncurrent Assets: Restricted Cash and Cash Equivalents Restricted Investments Restricted Interest Receivable Deferred Charges, Net Land and Other Nondepreciable Assets Capital Assets, Net of Accum. Depreciation Total Noncurrent Assets Total Assets LIABILITIES Current Liabilities: Accounts Payable Retainage Payable Accrued Wages and Benefits Payable Claims and Judgements Payable Due 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 Business -type Activities Enterprise Funds Major Funds Municipal Card Key Svc District Sound West Waste Bridge Airport $ 188,510 $ 4,632,205 $ 145,629 5,506,241 2,345,493 790,577 - - 2,278,118 - - 1,956,281 352,825 - 578,235 9,819 - 18,081 8,634 334 6,463,678 3,997 - 41 49,719 29,352 8,926 6,119,745 7,007,384 12,239,566 14,063 - 3,877,966 1,870,598 - 7,352,905 5,793 - 32,876 6,986 - 310,713 3,629,620 50,000 42,318,601 288,569 9,526,123 19,312,271 6,815,629 9,576,123 73,205,332 11,935,374 16,583,507 85,444,898 618,713 1,421 82,033 72,368 34,666 68,946 - 220 4,924 480 - 467,167 - 968 136,918 26,497 - - 14,471 11,144 - 50,000 - - 134,788 - 8,000 - - 66,689 The notes to the financial statements are an integral part of these statements. C-16 Governmental Major Funds Activities Internal Marathon Service Airport Total Funds $ 224,085 $ 5,190,429 $ 7,067,957 2,079,502 10,721,813 21,324,894 - 2,278,118 - - 1,956,281 - 34,145 965,205 51,872 5,299 33,199 - 111,622 6,584,268 123,500 - 4,038 166,359 18,319 106,316 208,219 2,472,972 27,839,667 28,942,801 - 3,892,029 - - 9,223,503 - - 38,669 - - 317,699 - 1,589,014 47,587,235 54,000 11,102,982 40,229,945 1,148,275 12,691,996 101,289,080 1,202,275 15,164,968 129,128,747 30,145,076 290,557 992,724 432,624 7,515 7,515 - 14,653 190,633 68,739 - - 6,256,204 111,326 116,470 124 2,746 470,393 22,102 - 137,886 - - 26,497 - - 25,615 17,667 - 50,000 - 7,267 150,055 - - 66,689 - (Continued) C-17 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF NET ASSETS - CONTINUED PROPRIETARY FUNDS SEPTEMBER 30, 2009 Current liabilities Payable from Restricted Assets: Accounts Payable Retainage Payable Accrued Interest Payable Notes Payable Revenue Bonds Payable Total Current Liabilities 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 OPEB Liability Total Noncurrent Liabilities Total Liabilities NET ASSETS Invested in Capital Assets, Net of Related Debt Restricted for: Debt Service Landfill Unrestricted Total Net Assets Business -type Activities Enterprise Funds Major Funds Municipal Card Key Svc District Sound West Waste Bridge Airport - 5,032,040 - 1,658,536 - .7,780 479,791 - - - - 475,000 1,397,108 48,419 8,008,033 408,441 - - 175,473 92,218 159,014 129,632 - 296,644 667,270. - - 1,032,365 - - - - 16,735,000 169,965 99,821 155,127 2,583,146 192,039 17, 345, 785 3,980,254 240,458 25,353,818 1,688,763 9,576,123 48,655,271 5,793,886 1,482,013 - - 4,784,344 6,766,926 5,641,923 $ 7,955,120 $ 16, 343,049 $ 60, 091, 080 The notes to the financial statements are an integral part of these statements. C-18 Governmental Major Funds Activities Internal Marathon Service Airport Total Funds 5,032,040 1,658,536 - 7,780 - 479,791 - - 475,000 - 434,064 9,887,624 6,797,460 408,441 - 38,686 465,391 118,920 - 426,276 667,270 - 1,032,365 - - 16,735,000 - 44,515 469,428 167,267 83,201 20, 204,171 286,187 517,265 30,091,795 7,083,647 12,691,996 72,612,153 1,202,275 5,793,886 - - 1,482,013 - 1,955,707 19,148, 900 21, 859,154 $ 14,647,703 $ 99,036,952 $ 23,061,429 C-19 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2009 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 Grant and Donations - Other Sources Other Income - PFC Investment Income Insurance Recoveries Gain (Loss) on Disposition of Assets Interest Expenses and Fiscal Charges Total Non -Operating Revenues/(Expenses) income/(Loss) Before Contributions and Transfers Transfers from Other Funds Transfers to Other Funds Capital Grants and Contributions Change in Net Assets Total Net Assets -October 1 Total Net Assets -September 30 Business -type Activities Enterprise Funds Major Funds Municipal Card Key Svc District Sound West Waste Bridge Airport $ 275,503 $ . - $ - 13,398,904 1,129,924 3,675,532 - - 2,175 3,493 718 12,734 13,677,900 1,130,642 3,690,441 1,411,226 819,310 1,550,711 13,828,020 134,526 7,185,829 55,892 415,762 1,052,072 15,295,138 1,369,598 9,788,612 1,617, 238 _ (238,956)(6,098,171) 277,316 - 7,195,495 50,000 - - - - 819,064 228,765 242,067 254,490 5,052 (965) 5,313 (73,969) - (257,230) 487,164 241,102 8,017,132 (1,130,074) 2,146 1,918,961 2,500,000 (211,582) (138,987) (6,016) 6,565,311 (1,341,656) (136,841) 10,978,256 9,296,776 16,479,890 49,112,824 $ 7,955,120 $ 16,343,049 $ 60,091,080 The notes to the financial statements are an integral part of these statements. C-20 Governmental Major Funds Activities Internal Marathon Service Airport Total Funds $ - $ 275,503 $ - 727,675 18,932,035 19,899,851 - 2,175 - 3,050 _ 19,995 99,170 730,725 19, 229, 708 19, 999, 021 357,972 4,139,219 1,583,311 905,927 22,054,302 3,948,037 549,866 2,073,592 77,672 - - 17,529,978 1,813,765 28,267,113 23,138,998 (1,083,040) ^ (9,037,405) _ (3,139,977) 184,838 7,657,649 - - .50,000 - - 819,064 - 45, 032 770,354 830,504 - - 2,179,910 (15,061) (5,661) (6,439) �- (331,199) - 214,809 8,960,207 3,003,975 868,231 (77,198) _ �136,002Y 12,090 2,512,090 - (94,440) (451,025) (667,482) .2,092,873 8,658,184 - 1,142,292 10,642,051 (803,484) 13,505,411 88, 394, 901 23, 864, 913 $ 14,647,703 $ 99,036,952 $ 23,061,429 C-21 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF CASH FLOWS PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2009 Operating Activities: Cash received for services Cash rec'vd from other funds for goods and svcs Cash received from insurance recoveries Cash received from others-PFC Cash payments to suppliers for goods and svcs Cash payments for employee services Cash payments to other funds Cash payments for claims Other operating revenue Net Cash Provided by/(Used in) ' Operating Activities Noncapital Financing Activities: Operating grants received Transfers from other funds Transfers to other funds 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 Investing Activities: Business -type Activities Enterprise Funds Major Funds Municipal Card Key Svc District Sound West Waste Bridge Airport $ 13,688,375 $ 1,129,590 $ 3,400,080 6,191 - - 819,064 (13,744,263) (166,831) (6,657,594) (950,587) (550,754) (1,084,120) (512,898) (206,526) (275,744) 3,493 718 12,734 1,509,689 206,197 3,785 580) 277,316 - 6,573,772 (211,582) (139,003) � (6,0161 65,734 (139,003) 6,567,756 6,087,978 (1,397) (25,937) (8,545,197) (463,278) - (7,890,000) (82,226) - (306,511) - - 2.500,000 �(546,901) _ (25,937) (8,153,730) Investment income 192,372 • 433,710 264,098 Proceeds from sales and maturities of investments 11,322,831 1,848,814 17,920,978 Purchase of investment securities (9,386,141) (2,211,927) (12,846,999) Net Cash Provided/(Used) in Investing Activities 2,129,062 70,597 5,338,077 Net Increase!(Decrease) in Cash and Cash Equivalents 138,206 111,854 (33,477) Cash and Cash Equivalents: October 1 64,367 4,520,351 6,335,190 September 30 $ 202,573 $ 4,632,205 $ 6,301,713 The notes to the financial statements are an integral part of these statements. C-22 Governmental Major Funds Activities Internal Marathon Service Airport Total Funds $ 724,775 $ 18,942,820 $ 4,999,590 - 6,191 14,803,632 - - 2,179, 360 - 819,064 - (862, 593) (21,431,281) (4,124,664) (260,903) (2,846,364) (1,115,900) (123,688) (1,118,856) (301,074) - - (17,804,309) 3,050 19,995 71,803 (519,359) (5,608,431) (1,291,562) 263,205 7,114,293 12,090 12,090 - 16,886 _ (339,715) (667,482) 292,181 6,786,668 (667,482) 1,277,849 7,365,827 - (493,282) (9,065,813) (53,593) (8,353,278) (388, 737) 2,500,000 - 784,567 (7,942,001) (53,593) 29,710 919,890 1,027,004 1,291,325 32,383,948 16,221,724 (1,843,440) 26,288,507 (19,911,846) - (522,405) 7,015,331 _ (2,663,118) 34,984 251,567 (4,675,755) 189,101 11,109,009 11, 743,712 $ 224,085 $ 11,360,576 $ 7,067,957 (Continued) C-23 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF CASH FLOWS -CONTINUED PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2009 Reconciliation of operating income!(Ioss) to net cash provided byl(used in) operating activities: Operating income/(loss) Adjustments to reconcile operating incomel(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 fm constitutional ofcrs Increase/(Decrease) in Accounts payable Increase/(Decrease) in Accrued wagestbene#its Increase/(Decrease) in Claims/judgments payable Increase/(Decrease) in Due to other funds Increasel(Decrease) In Due to other gov't units Increase/(Decrease) in Due to constitutional ofcrs Increase/(Decrease) in Camp. absences payable Increasel(Decrease) in Other current liabilities Increase/(Decrease) in Deposits in escrow Increasel(Decrease) in Landfill Closure Costs Increase/(Decrease) in OPEB liability Total adjustments Net Cash Provided by/(Used in) Operating Activities Noncash investing, capital, and financing activities: Business -type Activities Enterprise Funds Major Funds Municipal Card Key Svc District Sound West Waste Bridge Airport $ (1,617,238) $ (238,956) $ (6,098,171L 55,892 415,762 1,052,072 - - 819,064 22,143 - (292, 759) 6,191 - (18,081) 22,153 (334) - 422 - 15,132 (6,623) - 208,211 15,264 (685) (5,265) - - 4,924 (43,586) - 455,684 - 295 46,386 14,470 4,294 (12,904) (30, 750) - - 8,008 - - 43,965 25,821 40,127 107,549 445,153 2,312,591 $ (1,509,689) $ 206,197 $ (3,785,580) Contribution of capital assets from gov't $ - $ - $ - Gain (Loss) on disposition of assets $ 5,052 $ 965 $ 5,313 Forgiveness of capital lease amount 50,E - - Cash Reconciliation: Unrestricted $ 188,510 $ 4,632,205 $ 145,629 Restricted 14,063 - 6,156,084 Total $ 202,573 $ 4,632,205 $ 6,301,713 The notes to the financial statements are an integral part of these statements. C-24 Governmental Major Funds Activities Internal Marathon Service Airport Total Funds $ _ (1,083,040) _$� (9,037,405) $ (3,139,977) 549,866 2,073,592 77,672 - 819,064 - - 2,179,910 2,399 (268,217) (27,917) (5,299) (17,189) - - 21,819 5,126 - 15,554 (100,570) 14,688 216,276 (56,625) 39 9,353 8,580 - - (274, 331) - 4,924 81 (1,149) 410,949 (7,682) - 46,681 (1,185) (8,724) (2,864) 5,073 - - (2,984) 346 (30,404) - - 8,008 - 11,515 121,428 43,267 563,681 3,428,974 1,848,415 $ (519,359) $ (5,608,431) $ (1,291,562) $ 961,250 $ 9614250 $ - $ (15,061) $ (5,661 )$ (6,439) 50, 000 - $ 224,085 $ 5,190,429 - 6,170,147 $ 7,067,957 $ 224,085 $ 11, 360, 576 $ 7,067, 957 C-25 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF FIDUCIARY NET ASSETS FIDUCIARY FUNDS SEPTEMBER 30, 2009 Fire and EMS Pension Trust Fund ASSETS Cash and Cash Equivalents $ 113,972 Investments 719,425 Interest Receivable 6,423 Total Assets 839,820 NET ASSETS Held in Trust for Pension Benefits and Other Purposes 839,820 Total Net Assets $ 839,820 The notes to the financial statements are an integral part of these statements. C-26. MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS FIDUCIARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2009 Fire and EMS Pension Trust Fund Additions: Employer Contributions $ 30,791 Investment Income 19,034 Total Additions 49,825 Deductions: Administration (4,350) Pension Benefits (14,400) Total Deductions (18,750) Change in Net Assets 31,075 Total Net Assets- October 1 808,745 Total Net Assets- September 30 $ 839,820 The notes to the financial statements are an integral part of these statements. C-27 NOTES TO FINANCIAL STATEMENTS MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 9 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following summary of the more significant accounting policies of the Monroe County, Florida Board of County Commissioners (Board) is presented to assist the reader in interpreting these financial statements and should be viewed as an integral part of this report. Reporting Entity: Monroe County, Florida (County) is a Non -Charter County established as provided by Article VIII Section 1 of the Florida Constitution and Section 125 of the Florida Statutes. The primary government of the County is comprised of the Board of County Commissioners and five "constitutional officers" as follows: Clerk of the Circuit Court, Property Appraiser, Sheriff, Supervisor of Elections and Tax Collector. Entity status for financial reporting purposes is governed by Statement No. 14 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, together with the Board's discretely -presented component unit, constitutes the complete GAAP basis financial reporting entity of the County which is presented in the Monroe County, Florida Comprehensive Annual Financial Report. These financial statements include all funds of the Board and its "blended" and "discrete" component units, if material. "Component units" are legally separate entities for which operational or financial responsibility rests with the Board or for which the nature and significance of their relationship to the Board is such that exclusion would cause the financial statements to be misleading or incomplete. Since this report excludes the constitutional officers, these Board financial statements do not purport to reflect the financial position or the results of operations of Monroe County, Florida taken as a whole. Rather, they have been prepared to provide information at this level of detail greater than what is available in the County's financial statements. The Board of County Commissioners, composed of five members, is the legislative body for Monroe County and as such budgets. and provides funding used by the separate Constitutional Offices with the exception of fees collected by the Clerk of the Circuit Court and the Tax Collector. Under the direction of the Clerk of the Circuit Court, the Monroe County Finance Department maintains the accounting system for the Board's operations, but excluding those of the Property Appraiser, Sheriff, Tax Collector, Clerk of the Circuit Court and Supervisor of Elections, each of which maintains its own accounting system. Services provided by the Board and accounted for within these financial statements include police services for unincorporated areas of the County; health and social services; emergency medical services; cultural and recreational programs; solid waste services and other governmental services. 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 D-1 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued) provide their services exclusively or almost exclusively to the Board. The financial transactions of the component unit are merged in with similar transactions of the Board as part of the primary government. The blended component units of the Board are as follows: Monroe County, Florida Comprehensive Plan Land Authority (MCLA), - The MCLA was created by Monroe County, Florida Ordinance 031-1986 pursuant to Florida Statute 380 and is considered a legally separate entity from Monroe County. Its purpose is to operate a land acquisition program in Monroe County, to implement the Monroe County Comprehensive Plan and address issues created by it. The Monroe County Board of County Commissioners serves as the governing board 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 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 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 MCIDA. As an issuer of "conduit" debt obligations, the MCIDA has no assets or liabilities. Discretely -presented ,component units are legally separate entities, which do not meet the criteria for blending. 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 1979, abolished in 1993, re-established in 1995 and again abolished in 2007. Basis of Presentation: Fund Financial Statements: The fund financial statements provide information about the Board's funds, including its fiduciary fund and blended component unit. Separate statements for each fund category — governmental, proprietary, and fiduciary — are presented. The emphasis of fund financial statements is on major governmental and enterprise funds, each displayed in a separate column. All remaining governmental and enterprise funds are aggregated and reported in a single column as non major funds. Proprietary fund operating revenues, such as charges for services, result from exchange transactions associated with the principal activity of the fund. Exchange transactions are those in which each party receives and gives up essentially equal values. Non operating revenues, -such as subsidies and investment earnings, result from non -exchange transactions or ancillary activities. The following are reported as major governmental funds: D-2 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued) 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 Bridge Special Revenue Fund - The Road and Bridge Fund is used to account for all revenues, operating expenditures and capital improvements for the construction and maintenance of roads and bridges which are not grant funded. Governmental Grants Special Revenue Fund - The Governmental Grant Fund is used to account for. operating revenues and expenditures for all 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 Sales Surtax Revenue Bonds, Series 2003 Capital Project Fund — The Infrastructure Sales Surtax Revenue Bonds, Series 2003 Capital Project Fund is used to account for the proceeds of this bond issue. Infrastructure Sales Surtax_ Revenue_ Bonds, Series 2007 Capital „Project Fund — The Infrastructure Sales Surtax Revenue Bonds, Series 2007 Capital Project Fund is used to account for the proceeds of this bond issue. Bs Coppitt Wastewater Capital Proiect Fund — The Big Coppitt Wastewater Capital Project Fund is used to account for the construction of the Big Coppitt wastewater project. 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. Marathon Air ort - The Marathon Airport Fund is used to account for the operations of Monroe County's Marathon Airport. D-3 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued) The Board also reports the following fund types: Internal Service Funds - Internal service funds are used to account for the financing of worker's compensation insurance, health insurance, general liability insurance and fleet maintenance services provided by one department to other departments of the Board or to other governmental units on a cost reimbursement basis. Pension Trust Fund - The fiduciary pension trust fund is used to account for assets held by the Board in a trustee capacity for a volunteer firefighters and emergency services length of service award plan; and therefore, not available to support Board programs. Measurement Focus and Basis of Accountin 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 funds for payments to be made early in the following year. In addition, expenditures related to compensated absences are recorded only when leave has been taken. Revenues of the Board, which are susceptible to accrual under the modified accrual basis of accounting, include property taxes, gas taxes, sales taxes, interest revenue, and charges for services. In applying the susceptibility -to -accrual concept to intergovernmental revenues, the legal and contractual requirements of the numerous individual programs are used as guidance. There are, however, essentially two types of these revenues. In one, monies must be expended for the specific purpose or project before any amounts will be paid to the Board; therefore, revenues are recognized based upon the expenditures recorded. In the other, monies are virtually unrestricted as to purpose of expenditure and substantially irrevocable; i.e., revocable only for failure to comply with prescribed compliance requirements, such as with equal employment opportunity. These resources are reflected as revenues at the time of receipt or earlier if they meet the availability criterion. If revenues are expected to be received later than 60 days following the end of the fiscal year, then a receivable is recorded, along with deferred revenue. Once the funds are received, revenue and cash are recorded and the receivable and deferred revenue are eliminated. Deferred revenue also includes unearned revenue when receipts have not met all of the earning requirements. The proprietary fund and pension trust fund financial statements use a flow of economic resources measurement focus and the accrual basis of accounting. Revenues are recognized when earned and expenses are recognized when incurred, regardless of when the related cash flows take place. D-4 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 9 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued) Non -exchange transactions, in which the board gives (or receives) value without directly receiving (or giving) equal value in exchange, include grants. On an accrual basis, revenue from grants is recognized in the fiscal year in which all eligibility requirements have been satisfied. Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the Board's enterprise funds are charges to customers for sales and services. Operating expenses for enterprise funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. Under the terms of the grant agreements, the Board funds certain programs by a combination of 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 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. GASB Statement No. 20 Election - Pursuant to the election option made available by GASB Statement No. 20, pronouncements of the Financial Accounting Standards Board (FASB) issued after November 30,1989 are not applied in the preparation of the Board's enterprise fund financial statements. Budgets and Budgetary Data - The following are the statutory procedures followed by the Board of County Commissioners in establishing the budget for Monroe County. 1) On or before June 1 of each year the Sheriff, the Clerk of the Circuit Court, the Tax Collector, and the Supervisor of Elections shall each submit to the Board a tentative budget for their respective offices for the ensuing fiscal year. 2) Within fifteen days after certification of the ad valorem tax roll by the Property Appraiser, the County Budget Officer submits to the Board a proposed budget for the fiscal year commencing the following October 1. The budget includes proposed expenditures and the means of financing them. 3) By Board resolution, a tentative budget is submitted to the public. Public hearings are held to obtain taxpayer comments. 4) Fifteen days after adoption of the tentative budget, a final budget is submitted for review and adoption at a final public hearing. 5) Prior to, or on September 30, the Board's budget is legally enacted through passage of a resolution. Accordingly all fund types have an adopted budget as required by Florida Statute 129.03. All funds have legally adopted budgets. D-5 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued) 6) During the year, the Office of Management and Budget acts on intradepartmental budget changes that do not alter the total revenue or expenditures budgeted to a cost center. A cost center represents a particular area of Board operations or a department. All other budget changes (whether they are transfers between cost centers or alterations of total revenues and expenditures 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, except that mortgage assistance cash outlays and receipts are budgeted as operating activities and compensation accruals are not budgeted in the Monroe County Comprehensive Plan Land Authority Special Revenue Fund. For the fiscal year 2009, the following adjustments were necessary to present the actual data on a budgetary basis for MCLA: GAAP basis $ 220,794 Compensation accrual difference 672 Nan-GAAP budgetary basis 10) All appropriations lapse at year end. Encumbrances - Encumbrance accounting, under which purchase orders, contracts, and other commitments for the expenditure of moneys are recorded as a reservation of budget, is employed as an extension of the statutorily required budgetary process. Under Florida Statutes, appropriations, even if encumbered, lapse at fiscal year end. Encumbrances outstanding at September 30, 2009, represented by purchase orders and other executory contracts, were $9,246,914. It is the Board's intention 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, and therefore all balances representing participants' equity in the investment pools are classified as cash equivalents for purposes of these statements. For investments, which are held separately from the pools, those, which are highly liquid (including restricted assets) with an original or remaining maturity of 90 days or less, are considered to be cash equivalents. Investments Florida Statute 218.415 authorizes local governments to invest its funds pursuant to a written investment plan, which allows investment of surplus funds in the following: MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009. NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued) 1) The Florida Local Government Surplus Funds Trust Fund Investment Pool (SBA). 2) United States Government Securities - Negotiable direct obligations or obligation, the principal and interest of which are unconditionally guaranteed by the United States Government. 3) United States Government Agencies — Bonds, debentures, notes, callables and fixed rate mortgage -backed securities issued or guaranteed by United States Government Agencies, provided such obligations are backed by the full faith and credit of the United States. 4) Federal Instrumentalities (United States Government -sponsored agencies) — senior obligations, which include bonds, debentures, notes, callables and fixed rate mortgage - backed securities issued or guaranteed by United States government -sponsored agencies (Federal Instrumentalities). These are limited to the following: ■ Federal Farm Credit Bank (FFCB) ■ Federal Home Loan Bank or its County banks (FHLB) ■ Federal National Mortgage Association (FNMA) ■ Federal Home Loan Mortgage Corporations (Freddie -Macs) including Federal Home Loan Mortgage Corporation participation certificates. 5) Interest -bearing Time Deposit or Savings Account — Non-negotiable interest -bearing time certificates of deposit or savings accounts in financial institutions organized under the laws of this State and/or in national financial institutions organized under the laws of the United States and doing business and situated in the State of Florida, provided that any such deposits are secured by the Florida Security for Public Deposits Act, Chapter 280, Florida Statutes. Additionally, the financial institution shall not be listed with any recognized credit watch information service. 6) Registered Investment Companies (Money Market Mutual Funds) — Shares in open-end and no-load Money Market Mutual Funds provided such funds are registered under the Federal Investment Company Act of 1940 and operate in accordance with 17 C.F.R. 270.2a-7, which stipulates that money market funds must have an average weighted maturity of 90 days or less. In addition, the share value of the money market funds must equal to $1.00. 7) Intergovernmental Investment Pool — Intergovernmental Investment Pools that are authorized pursuant to the Florida Interlocai Cooperation Act, as provided in Section 163,01, Florida Statutes. All investments are stated at fair value. Accounts Receivable - Amounts due from private individuals, organizations, or other governments, which pertain to charges for services rendered by Board departments, are reported as accounts receivable. Receivables are reviewed periodically to establish or update the provisions for uncollectible amounts. These provisions are estimated based on an analysis of the age of the various accounts. Interfund Balances and Activity - During the course of normal operations, the Board has numerous transactions between funds. Examples of these transactions include providing services, constructing assets, matching grants or servicing debt. These transactions are generally recorded as interfund transfers, except for internal service fund charges, which are reflected as revenues to internal service funds and expenses/expenditures to the funds receiving the services. Additionally, short-term interfund loans are recorded from time to time as cash flow needs arise. As of fiscal year-end, any unpaid D-7 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued) amounts related to these transactions are reported as "due from other .funds" or "due to other funds" on the fund financial statements. Interfund loans not expected to be repaid within one year are reported as advances. In governmental funds, .advances, if any, are offset equally by a fund balance reserve, which indicates that they do not constitute expendable available financial resources and, therefore, are not available for appropriation. 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. No reserve has been established within the General Fund balance as the consumption method is used to account for this inventory. Cal2ital 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 sytems). Constructed or purchased assets are recorded at historical or estimated historical cost at the time of purchase. Donated assets are recorded at estimated fair market value at the date of donation. Capital assets associated with business -type activities and the internal service funds are presented in the Board's basic financial statements: Capital assets associated with the Board's. governmental activities are presented on the government -wide financial statements of the County, rather than on the financial statements of the Board. The Board maintains a $1,000 threshold for additions to equipment with an estimated useful life in excess of two years. Buildings are capitalized when the value is $15,000 or greater. Public domain and infrastructure assets represent major expenditures for such items as roads, water and sewer treatment plants and lines, landfill improvements, parks and drainage systems. Additions and improvements for roads, water, sewer, landfill and drainage infrastructure are capitalized when the cost amounts to $250,000 while park additions and improvements are capitalized at $25,000. When the MCLA acquires land by donation, the asset is recorded at the Authority's transaction cost plus the higher of the tax assessed value at the time of donation or 115% of the 1986 tax assessed value. Depreciation has been provided using the straight-line method. The estimated useful lives of the various classes of depreciable capital assets are as follows: Life— Years Buildings 10-50 Equipment 5-10 Infrastructure 10-50 Public domain infrastructure 20-50 Capacity rights 99 Capacity rights represent an intangible asset that arose from a contract with a private wastewater operator that included wastewater processing capacity for 1,500 equivalent dwelling units for a period of 99 years. ■: MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued) Interest cost incurred in the Key West Airport Enterprise Fund during construction is capitalized, net of interest income from the proceeds of related tax-exempt debt, as part of the cost of the related assets. This capitalized interest amounted to -$157,522 at fiscal year end. Unamortized Debt Issuance Expense — Unamortized debt issuance expense of the enterprise funds is reported as a deferred charge and is amortized by using the straight-line method over the life of the debt. 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 bond 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 Board's policy is to use restricted resources first, and then unrestricted resources, as they are needed. Landfill Closure Costs - Under the terms of current state and federal regulations, the Board is required to place a final cover on closed landfill areas, and to perform certain monitoring and maintenance functions for a period of up to 30 years after closure. In accordance with GASB Statement No. 18, the Board is recognizing these costs of closure and post closure maintenance over the active life of each landfill area, based on landfill capacity used during the period. Required obligations for these costs are recognized in the Municipal Service District -Waste enterprise fund for public landfill operations. Deferred Revenue - Deferred revenue includes liabilities in the governmental funds to offset receivables that do not meet the availability criterion under the modified accrual basis of accounting. Deferred revenue also includes unearned revenue which are funds received in advance of expenditures. Unearned revenues are primarily associated with state and federal grants. Long -Term Obligations — In the proprietary fund financial statements of the Board, long-term debt is reported as a liability in the proprietary fund statement of net assets. Long-term debt associated with the Board's governmental activities is presented on the govemment-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 1 st of each year. A four percent discount is allowed if the taxes .are paid in November, with the discount declining by one percent each month thereafter. Taxes become delinquent on April 1st of each year, and tax certificates for the full amount of any unpaid taxes and assessments must be sold not later than June 1st of each year. No accrual for the property tax levy becoming due in November of 2008 is included in the accompanying financial statements, since such taxes are collected to finance expenditures of the subsequent period. MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued) Fund Balances — In the governmental fund financial statements, reservations or restrictions of fund balance represent amounts that are not appropriable or are legally segregated for a specific purpose. Designations of fund balance represent tentative management plans that are. subject to change. The governmental fund types classify fund balances as follows: Reserved Reserved for Encumbrances - portion of fund balance available to pay for any commitments related to purchase orders and contracts that remain unperformed at year-end. Reserved for Land Acquisition — portion of fund balance MCLA restricted for land acquisition. Reserved for Mortgage Loans -- portion of fund balance offsetting mortgages receivable for MCLA because they are not available spendable resources. Reserved for Debt Service - portion of fund balance available to pay for any commitments related to outstanding debt at year-end. Unreserved Designated in Nonmajor Special Revenue Funds — $481,367 of fund balance is designated by the Board in the Tourist Development Fund District One, Three Cent Fund for beach nourishment projects. Undesignated - portion of total fund balance available for appropriation that is uncommitted at fiscal year end. Fund Deficits — There are no fund deficits to report at September 30, 2009. Excess of Expenditures Over Approopriations — There are no excess of expenditures over appropriations to report at September 30, 2009. - Net Assets — Net assets in the proprietary fund financial statements are classified as invested in capital assets, net of related debt; restricted; and unrestricted. Restricted net assets represent 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. There is a designation of unreserved net assets in the Risk Management Internal Service Fund in the amount of $1,500,000 for future catastrophic losses. This designation represents tentative management plans that are subject to change. NOTE 2 - CASH, CASH EQUIVALENTS AND INVESTMENTS The Board maintains a cash and investment pool that is available for use by all funds except those whose cash and investments must be segregated due to bond covenants or other legal restrictions. F11K7 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 2 - CASH, CASH EQUIVALENTS AND INVESTMENTS - (Continued) As of September 30, 2009, except for the Pension Trust Fund of cash for $113,972 and investments for $719,425, the carrying value of the Board's deposits and investments with their respective credit ratings are as follows: Credit Less than 6 6 Months to Investment Type Rating Fair Value Months 1 Year 1 to 3 Years Demand and Time Deposits NIA US Treasury Notes TSY Insurance Policies/Annuities Unrated Federal Agency — Disc Notes A-1+ Federal Agency — Notes & Bonds AAA Total Fair Value $ 50,380,307 $ 44,701,890 $ 5,678,417 $ - 18,359,199 - 4,453,640 13,905,559 7,169,536 7,169,536 - - 24,986,486 24,694,298 292,188 - 111,816,916 52,368,630 40,080,371 19,367,915 $212,712,444 $128,934,354 $50,504,616 $33,273,474 Credit Risk — The Board's Investment Policy (Policy) limits credit risk by restricting authorized investments to the following: Florida Local Government Surplus Funds Trust Fund Investment Pool administered by Florida's State Board of Administration (a 2a7-like pool), direct obligations of the United States or its agencies and instrumentalities, money market mutual funds, and Intergovernmental Investment Pools authorized by the Florida Statutes. The Policy requires that investments in federal instrumentality debt be guaranteed by the full faith and credit of the U. S. Government sponsored agency, and that investments in money market . mutual funds have a rating of AAAm or AAAm-G or better by Standard & Poor's (S&P) or other nationally recognized rating agency. All credit ratings indicated in the previous table are S&P ratings. Concentration of Credit Risk — The Policy establishes limitations on portfolio composition, both by investment type and by issuer, in order to control concentration of credit risk. The Policy provides the following maximum limits of the portfolio, with limits in any one issuer of the portfolio invested: Portfolio Maximum in Investment Tyoe Maximum any one issuer Florida Local Government Surplus Funds Trust Fund 100% n/a United States Government Securities 100% n/a United States Government Agencies 50% 10% Federal Instrumentalities 80% 30%, with a maximum of Maximum in callable securities 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 D-11 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 2 - CASH, CASH EQUIVALENTS AND INVESTMENTS - (Continued) At September 30, 2009, the portion of the Board's investment portfolio invested in Federal instrumentalities is detailed as follows: Percent of Issue Investment Portfolio Federal Home Loan Bank (of which 2.9% is callable) 28.38% Federal Home Loan Mortgage Corp (of which 3.06% is callable) 33.38% Federal National Mortgage Assoc (of which 12.02% is callable) 20,63% Federal Farm Credit Bank 1.89% 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, 2009, 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 non current operating funds to five years. Cash and -Cash Equivalents — The Board has the following unrestricted and restricted cash and cash equivalents at September 30, 2009: Local Government Surplus Trust Fund Unrestricted Cash & Cash Equivalents: Governmental Activities: Governmental Funds $ 264,533 Internal Service Funds - Business -Type Activities Total Unrestricted Cash & Cash Equivalents ^ 264,533 Restricted Cash and Cash Equivalents: Business -Type Activities 1,702 Total Cash and Cash Equivalents NOTE 3 — RESTRICTED ASSETS Demand Deposits Total $31,687,241 $31,951,774 7,067,957 7,067,957 5.190.429 5,190.429 43.945.627 44.210.160 6,168,445 6 170,147 50.114.072 50,280.307 Restricted assets in the Enterprise Funds include those created by resolutions adopted by the Board for the landfill escrow account, airport passenger facility charges, and the issuance of Key West Airport Revenue Bonds. Total restricted assets as of September 30, 2009 are as follows: D-12 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 3 - RESTRICTED ASSETS - (Continued) Cash and Cash Interest Equivalents Investments Receivable Total Municipal District Waste Landfill Closure Escrow $ 14,063 $ 1,870,598 $ 5,793 $ 1,890,454 Key West Airport Passenger Facility Charge 990,881 3,914,810 16,470 4,922,161 Sinking Fund 2,478,157 - - 2,478,157 Renewal and Replacement 32,489 491,323 2,553 526,365 Debt Service Reserve 561 2,765,374 - 2,765,935 Construction Fund 2,278,118 1,956,281 13,555 4,247,954 Operating Reserve 79,234 181,398 298 260,930 Arbitrage Rebate 296;644 - - 296,644 $ 6,170,147 $11,179, 784 $ 38,669 $17, 388,600 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: Governmental Activities: General Fund Fine & Forfeiture Fund Governmental Grants Fund Nonmajor Funds: Fire & Amb Dist 1 Fund Other Nonmajor Funds Internal Service Funds Total Governmental Activities Business -Type Activities: MSD-Waste Fund: Key West Airport Marathon Airport Total Business -Type Activities Total Accounts Receivable Allowance for Accounts Accounts Uncollectible Receivable, Service Provided Receivable Accts Net Misc $ 36,129 $ 1,413 $ 34,716 Air Amb Svc 3,019,461 1,912,332 1,107,129 Misc 1,619 185 1,434 439,687. Amb Svc 1,429,938 1,007,385 422,553 Misc 18,403 1,269 17,134 Misc 53,849 1,977 51,872 4,559,399 2,924,561 1,634,838 Tipping Fees 39,502 4,109 35,393 Waste Assessments 575,028 544,959 30,069 Solid Waste Franchise 287,363 - 287,363 Rent, PFC, Misc 637,400 59,165 578,235 Misc 34,145 - 34,145 1,573,438 608,233 965,205 $6,132,837 $3,532,794 $2,600,043 The Board approved an ambulance billing write off during the year of $310,890. D-13 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009- NOTE 5 - MORTGAGES RECEIVABLE Mortgages receivable at September 30, 2009 consist of the following: Maior Governmental Funds: Governmental Grants Fund: Second Mortgages Receivable from individuals, collateralized by personal residences. The entire amount of the loan will be forgiven over a five-year period at a rate of one fifth per year, beginning on the 15t anniversary of the completion of the construction of the improvements funded by the mortgage, provided that the mortgagor complies with the mortgage covenants. $ 107.837 Comprehensive Plan Land Authority Fund: First mortgage due from governmental agency, collateralized by land, payable in full April 2028, interest free 382,554 First mortgage due from governmental agency, collateralized by land, payable in full May 2031, interest free 1,500,000 Second mortgage due from governmental agency, collateralized by land, payable in full January 2034, interest free 2,210,000 First mortgage due from governmental agency, collateralized by land and building, payable in full September 2045, interest free 59,025 Third mortgage due from private company, collateralized by land, payable in full May 2050, interest free 1,089,000 Third mortgage due from private company, collateralized by land, payable in full September 2053, interest free 1,500,000 6,740,579 _Nonmaior Governmental Funds: Affordable Housinq Programs Fund: Second Mortgage Receivable from individual, collateralized by personal residence. The entire amount of the loan will be forgiven over a ten-year period at a rate of one fifth per year, beginning on the 6th anniversary of the completion of the construction of the improvements funded by the mortgage, provided that the mortgagor complies with the mortgage covenants. 3,647 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 D-14 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 6 - MORTGAGES RECEIVABLE — (Continued) 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. 115,056 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. 5,950,825 Second Mortgages Receivable from individuals, collateralized by personal residences. The entire balance of the mortgage will be forgiven over a ten year period at the rate of ten percent per year upon the anniversary of the mortgage, provided that the mortgagor complies with the mortgage covenants. The mortgages are interest free. 1,039,589 7,105,470 Total Mortgages Receivable The mortgages receivable associated with the Governmental Grants, and Affordable Housing Program funds are offset by an allowance for uncollectible accounts of $107,837, and $3,647, respectively. As the mortgages receivable associated with the Local Housing Assistance fund are intended to ultimately be forgiven, an allowance for uncollectible accounts of $7,105,470 has been established. A reserve of fund balance of $6,740,579 represents the mortgages receivable related to the Comprehensive Plan Land Authority Special Revenue Fund that are equally offset by a fund balance reserve, which indicates that they do not constitute "available spendable resources," even though they are a component of total assets. This also represents the primary difference in fund balance for the Comprehensive Plan Land Authority Special Revenue Fund on a GAAP basis versus the budgetary basis. NOTE 6 — 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. D-15 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 6 — CAPITAL ASSETS — (Continued) Capital asset activity for the year ended September 30, 2009 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 Internal Service Funds Capital assets not depreciated: Land Capital assets depreciated: Buildings Equipment Total capital assets depreciated Less accumulated depreciation for: Buildings Equipment Total accumulated depreciation Total capital assets depreciated, net Internal Svc Funds, capital assets, net Total Governmental Activities, capital assets, net Beginning Ending Balances Additions Reductions Balances $ 86,112,996 $ 4,095,793 $ 1,414,831 $ 88,793,958 77,289,221 21,915,848 10,060,996 89,144,073 163,402,217 26,011,641 11,475,827 177,938,031 100,367,669 341,929 - 100,709,598 26, 823, 950 766,436 1,159, 049 26,431, 337 41,658,641 7,894,608 221,923 49,331,326 3,150, 000 - - 3,150,000 172,000,260 9,002,973 ' 1,380,972 179,622,261 36, 859, 033 2,266,241 - 39,125, 274 17,447, 511 2,238, 333 837,211 18, 848, 633 23,087,450 998,464 122,058 23,963,856 127,272 31,818 - 159,090 77,521,266 5,534,856 959,269 82,096,853 94,478,994 97,525,408 257, 881,211 275,463,439 54,000 - - 54,000 .1,711,924 - - 1,711,924 470,710 84,983 67,451 488,242 2,182,634 84,983 67,451 2,200,166 624,676 46,902 - 671,578 379,165 30,770 29,622 380,313 1,003,841 $ 77,672 $ 29,622 1,051,891 1,178,793 1,148,275 1,232, 793 1,202,275 $259,114,004 $276,665,714 Bus i ness-tape_ Activities: Capital assets not depreciated: Land $ 4,802,020 $ - $ - $ 4,802,020 Construction in progress 42,279,121 10,368,896 9,862,802 42,785,215 Total capital assets not depreciated 47,081,141 10,368,896 9,862,802 47,587,235 D-16 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 6 — CAPITAL ASSETS — (Continued) 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 Ending Balances Additions Reductions Balances 212,925 - - 212,925 17,861,087 4,820,911 - 22,681,998 4,723,828 145,068 436,324 4,432,572 28,751,489 6,003,143 - 34,754,632 51,549,329 10,969,122 436,324 62,082,127 212,925 - - 212,925 5,103,672 558,072 - 5,661,744 3,046,170 297,299 354,451 2,989,018 11,770,274 1,218,221 - 12,988,495 20,133,041 _$ 2,073,592 $ 354,451 21,8521182 31,416,288 40,229,945 $78,497,429 $.87,817 180 Depreciation was charged to functions/programs on the government -wide Statement of Activities of the County as follows: Governmental Activities: General Government $1,123,752 Public Safety 2,132,126 Physical Environment 95,811 Transportation 999,538 Economic Environment 7,858 Human Services 256,591 Culture and Recreation 453,808 Court Related 465,372 Total Governmental Activities 5,534,856 Internal Service Funds - General Government 77,672 Total Governmental Activities -35,612.528 Business -type Activities: Municipal Service District -Waste $ 55,892 Card Sound Bridge 415,762 Key West Airport 1,052,072 Marathon Airport 549,866 Total Business -type Activities $2,073,592 NOTE 7 — POST EMPLOYMENT BENEFITS OTHER THAN PENSION Plan Description The Monroe County Board of County Commissioners (BOCC) administers a single - employer defined benefits healthcare plan (the "Plan"). Florida Statutes 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. D-17 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 7 — POST EMPLOYMENT BENEFITS OTHER THAN PENSION — (Continued) The BOCC may amend the plan design, with changes to the benefits, premiums and/or levels of participant contribution at any time. in an open session, on at least an annual basis and prior to the annual enrollment process, the BOCC approves the rates for the coming calendar year for the retiree and County contributions. Eligibility for post employment participation in the Plan is limited to full time employees of the County, and the Constitutional Officers. At September 30, 2009, there were no terminated employees entitled to deferred benefits. The membership of the County's medical plan consisted of; Active Employees 1,255 Retirees and beneficiaries currently receiving benefits 354 Total Membership 1,609 Funding Policy The contribution requirements of plan members and the County are established and may be amended by the County. The required contribution is based on pay-as-you-go financing requirements, net of member contributions. Employees who retire as an active participant in the Plan and were hired on or after October 1, 2001 may continue to participate in the Plan by paying the monthly premium established annually by the BOCC. Employees who retire as an active participant in the plan, were hired before October 1, 2001, have at least ten years of full time service with the County, and meet the retirement criteria of the Florida Retirement System (FRS) may continue to participate in the Plan at a cost equal to the FRS Health Insurance Subsidy for ten years of service (currently $5 per month for each year of service credit at retirement or $50 per month). Retirees who have met the requirements for early retirement, have not achieved age 60 and whose age and years of service do not equal 70 (rule of 70) must pay the standard monthly premium until the age criteria or the rule of 70 is met. At that time, the retiree's cost of participation will be equal to the FRS Health Insurance Subsidy. Surviving spouses and dependents of participating retirees may continue in the plan if eligibility criteria specific to those classes are met. For the fiscal year 2009, the County contributed the following: Claims paid by Group Insurance Fund $ 3,189,814 Allocation of administrative expenses and incurred but not reported costs (IBNR) 394,281 OPEB costs 3,584,095 Less retiree contributions (644,681) County contribution $ 2,939,414 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 D-18 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 7 — POST EMPLOYMENT BENEFITS OTHER THAN PENSION — (Continued) 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, 2007, 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 $ 7,048,000 Interest on net OPEB obligation - Adjustment to annual required contribution - Annual OPEB cost 7,048,000 Less Contributions made (2,939,414) Increase in net OPEB obligation 4,108,586 Net OPEB obligation, beginning of year 5,398,676 Net OPEB obligation, end of year $ 9,507,262 The net OPEB obligation at the end of the year is $8,870,567 for Governmental Activities and $636,695 for Business -type Activities. This total net OPEB obligation includes employees of the Board as well as the Constitutional Officers. No trust or agency fund has been established for the plan; there were no adjustments to the annual required contribution, or interest earnings. Funded Status and Funding Progress — At September 30, 2008, funded status and funding progress is as follows (amount expressed in thousands): Actuarial UALL as a Accrued Percentage Actuarial Actuarial Liability - of Valuation Value of Projected Unfunded Funded Covered Covered Date" Assets Unit Credit AAL Ratio Payroll Payroll 10/01/07 $ - $79,637 $79,637 0% $68,193 116.80% *Initial year of plan disclosure, no prior data available 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. D-19 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 7 -W POST EMPLOYMENT BENEFITS OTHER THAN PENSION — (Continued) 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 October 21, 2008, for the fiscal dates of October 1, 2007 to September 30, 2008, was prepared using generally accepted actuarial principles and practices, and relied on unaudited census data and medical claims data reported by the County. The _valuation used the projected unit credit actuarial method. Demographic assumptions mirror those used for the various Florida Retirement System pension funds. The actuarial assumptions include an annual health care cost trend rate of 11.0% initially, reduced by decrements to an ultimate rate of 6.0% over ten years. The assumptions included a discount rate that is tied to the return expected on the funds used to pay the benefits, and assumes for an unfunded plan, that the benefits continue to be funded on a pay-as-you-go basis and that the County's investments earn a 5% rate of return over the long term. The unfunded accrued actuarial liability is amortized over thirty years on a closed basis, as a level percentage of the projected payroll, which is assumed to increase at 4.0% per annum. . NOTE 8 - RETIREMENT PLAN Florida Retirement System: Plan Description — Substantially all full-time Board employees are participants in the Florida Retirement System, (FRS); administered by the Florida Department of Administration. Employees elect to participate in either the defined benefit plan ("Pension Plan"), a multiple -employer; cost -sharing public employees defined benefit retirement plan, or the defined contribution plan (Investment Plan) under the FRS. FRS provides retirement and disability benefits, annual cost -of living adjustments, and death benefits "to plan members and beneficiaries of various governmental units within the State of Florida. Benefits are established by Chapter 121, Florida Statutes, and Chapter 60S, Florida Administrative Code. Amendments to the law can be made only by Act of the Florida legislature. The FRS provides for vesting of benefits after 6 years of credited service. Normal retirement benefits are available to employees who retire at or after age 62 with 6 or more years of service. Early retirement is available after 6 years of service with a 5% reduction in benefits for each year prior to the normal retirement age. Retirement benefits are based on age, average compensation and years -of - service credit where average compensation is computed as the average of an individual's five highest years of earnings. Employees are not required to contribute to this retirement system. In addition to the above benefits, the FRS administers a Deferred Retirement Option Program ("DROP"). This program allows eligible employees to defer receipt of monthly retirement benefit payments while continuing employment with a FRS employer for a period not to exceed 60 months after electing to participate. Deferred monthly benefits are held in the FRS Trust Fund and accrue interest. For employees who elect to participate in the Investment Plan rather,than the Pension Plan, vesting occurs at one year of service. These participants receive a contribution of self -direction in an investment product with a third party administrator selected by the State Board of Administration. D-20 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 8 - RETIREMENT PLAN -- (Continued) The Florida Division of Retirement issues a publicly available financial report that includes financial statements and required supplementary information for the FRS. The report may be obtained by writing to Florida Division of Retirement, 2639 Monroe Street, Building C, Tallahassee, FL 32399-1560, or from the website www.frs.state.fl.us. Funding Policy — The FRS is noncontributory for members. Participating employer contributions are based upon state-wide rates established by the State of Florida. These rates are applied to employee salaries as follows: regular employees, 9.85%, special risk employees, 20.92%, special risk administrative support 12.55%; elected officials, 16.53%, senior management 13.12%, and DROP participants 10.91%. The Board contributed to the plan an amount equal to 12.19% of covered payroll during the fiscal year ended September 30, 2009. The Board's contributions made during the years ended September 30, 2009, 2008, and 2007 were $3,128,082, $3,289,234, and $3,260,384, respectively, equal to the required contributions for each year. The Board has historically contributed amounts equal to required contributions and, therefore, does not have a pension asset or liability as determined in accordance with GASB Statement No. 27. NOTE 9 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES Plan Description — The Monroe County, Florida Volunteer Firefighter and Emergency Medical Services Length of Service Award Plan (LOSAP) is a single -employer defined benefit pension plan created in 1999 and administered by the Board. Upon completion of ten (10) years of service, prior to normal retirement age, and in accordance with the terms of LOSAP, a plan member is considered vested. 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. LOSAP had 80 participants of which 44 are active, 34 are inactive and 2 are retired members for the plan year ended December 31, 2008 and the County's fiscal year ending September 30, 2009. Separate, stand-alone financial statements for LOSAP are not provided. Summary of Significant Accounting Policies -- The financial statements of LOSAP are prepared using the accrual basis of accounting. The Contributions are recognized when due. Benefits are recognized when due and payable in accordance with the terms of LOSAP. Administrative costs are paid by the Board. Actuarial valuation costs are paid by LOSAP. All plan investments are reported at fair value. Funding Policy — Annually, as determined by the actuarial study, the Board shall appropriate funds from the budgets of the various volunteer fire/rescue districts. These funds will be applied as a contribution to LOSAP. Plan members do not contribute. The current contribution rate is $310 per volunteer year of service. Below is a schedule of funding progress for six years. D-21 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 9 -- PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES — (Continued) Actuarial UALL as a Actuarial Actual Accrued Unfunded Percentage Valuation Value of Liability AAL Funded Covered of Covered Date Assets (ALL} UAAL Ratio Payroll Payroll 12131 /2003 . $474, 729 $890, 779 $416, 050 53.3% NA NA 12/31/2004 562,738 887,105 324,367 63.4% NA NA 12/31/2005 626,637 968,291 341,654 64.7% NA NA 12/31/2006 700,939 802,005 101,066 87.4% NA NA 12/31 /2007 725,508 767,315 41,807 94.6% NA NA 12131 /2008 782,060 849,172 67,112 92.1 % NA NA NA - 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. Annual Pension Cost -- The Board's annual pension cost of $24,777 was equal to the required contribution. The annual required contribution was determined as part of the January 1, 2008 actuarial valuation using the Aggregate Method. Allocations are based on years of service and the aggregation used is by fire district. This method does not separately amortize unfunded actuarial liabilities. Under this method, gains and losses are spread over future normal costs. The significant actuarial assumptions used to compute the pension benefit obligation were: 1. Investment Yield: 2.5% for both present and future 2, Mortality Pattern: Not applicable 3. Salary increases: Not applicable; Benefits not based on salary 4. Termination: Godwin's Table 1, V Select & Ultimate Table, with 50% termination prob for YOS<1 5. Inflation: No increase as benefits are based on a flat amount per year of service The annual pension cost (APC), the percentage of APC contributed to the plan, and the net obligation for the plan year ending December 31, 2008 and the five preceding years were as follows: Fiscal Annual Percentage Net Year Pension of APC Pension Ending Cost iAPQ Contributed Obligation 12/31 /03 $ 73, 840 100% $ - 12/31/04 58,904 100% - 12/31/05 61,050 100% - 12/31/06 24,233 100% - 12/31/07 28,477 100% - 12/31/08 24,777 100% - D-22 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 10 — CAPITAL COMMITMENTS Construction projects under present contractual agreements as of September 30, 2009 are as follows: Project Key Largo WWTD ILA Duck Key Wastewater Key West Airport Freeman Justice Center Key West Noise Imp Proj, Ph. 6 Big Coppitt Wastewater Marathon Airport HVAC Big Pine Key Fire Station Miscellaneous Total Construction Commitments $ 7,124,186 4,022,561 1,996,116 1,505,841 1,067,523 932,790 433,297 160,554 396,418 $ 17,639,286 The Comprehensive Plan Land Authority has approximately $296,546 of commitments to acquire various properties as of September 30, 2009. NOTE 11 — LEASE OBLIGATIONS Capitalized lease obligations are stated at the original fair market value of leased assets capitalized, less payments since the inception of the lease discounted at the implicit rate of interest in the lease. The future minimum debt reductions under capitalized leases consist of the following at September 30, 2009: Fiscal year ending September 30: 2010 2011 2012 2013 2014 2015-2019 2020-2024 Total minimum payments Less Amounts representing interest Governmental Activities $ 23,344 17,520 1,460 42,324 (2,162) Present value of net minimum lease payments $ 40,162 Business -type Activities $ 50,000 50,000 50,000 50,000 50,000 250,000 217,270, 717,270 $ 717,270 Leased property which has been capitalized as of September 30, 2009 is as follows: D-23 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 11 - LEASE OBLIGATIONS - (Continued) Governmental Business -type Activities Activities Equipment $ 210,367 $ 2,335,830 Less Accumulated Depreciation (64,846) 2,335,830 $ 145,521 $ - Rental expense under cancelable operating leases for the current year amounted to $988,052. NOTE 12 - LONG-TERM DEBT Long-term debt activity for the year ended September 30, 2009 is as follows: Current Portion of Beginning Ending Long-term Balances Additions . Payments Balances Liabilities Governmental Activities: Governmental Funds Revenue bonds payable $46,012,864 $ - $3,896,091 $42,116,773 $4,031,091 Revenue notes payable 21,626,677 - 626,677 21,000,000 - Accrued comp. absences 2,527,780 1,888,223 1,806,502 2,609,501 349,512 OPEB Liability 4,926,676 6,576,000 2,632,109 8,870,567 - Capitalized lease obligations 200109 - 159,947 40,162 21,790 Total Governmental Funds 75,294,106 8,464,223 9,121,326 74,637,003 4,402,393 Internal Service Funds Accrued comp. absences 131,514 108,196 103,123 136,587 17,667 OPEB Liability 124,000 124,000 80,733 167,267 - 255,514 232,196 183,856 303,854 17,667 Total Governmental Activities $75,549,620 $8,696,419 $9,305,182 $74,940,857 $ 4,420,060 Business -type Activities: Revenue bonds payable $25,100,000 $ - $ 7,890,000 $17,210,000 $ 475,000 Revenue note payable 1,975,434 - 463,278 1,512,156 479,791 Arbitrage payable 303,737 - 7,093 296,644 - Accrued comp. absences 493,869 264,211 267,074 491,006 25,615 OPEB Liability 348,000 348,000 226,572 469,428 - Capitalized lease obligations 767,270 - 50,000 717,270 50,000 Total Business -type Activities $28,988,310 $ 612,2 11 $ 8,904,017 $20,696,504 $1,030,406 Total Long -Term Debt $104,537,930 $9,308,630 $18,209,199 $95,637,361 $5,450,466 D-24 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 12 — LONG-TERM DEBT — (Continued) 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. The following is a summary of the Board's bonds and notes as of September 30, 2009: Governmental Activities Revenue Bonds: Infrastructure Sales Surtax Revenue Bonds, Series 2003 Infrastructure Sales Surtax Revenue Bonds, Series 2007 Unamortized Original Issue Premium, Series 2007 Total Revenue Bonds Revenue Note: Florida Rural Utility Financing Commission Revenue Notes, Series 2008A Total Government Activities Debt Service Funds Available to Pay Current Maturities Unamortized Original Issue Premium, Series 2007 Governmental Activities Principal Funding Requirements BusinessAype Activities Revenue Bonds: Key West International Airport Revenue Bonds, Series 2006 Revenue Note: Solid Waste Disposal System Refunding Revenue Note; Series 2002 Less Unamortized Loss on Refunding Total Business -Type Activities Debt Service Funds Available to Pay Current Maturities and Early Retirements Unamortized Loss on Refunding Business -Type Activities Principal Funding Requirements $ 14, 305, 000 26,910,000 901,773 42,116, 773 21,000,000 63,116,773 (1,962,500) (901,773) $ 60,252,500 $ 17,210,000 1,654,104 (41, 948) 1,512,156 18,722,156 (1,800,014) 41,948 $ 16,964,090 Debt Service Funding Requirements - The total annual'debt service requirements for bonds and notes outstanding at September 30, 2009 are as follows: D-25 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 12 — LONG-TERM DEBT — (Continued) Governmental Activities Business -type Activities Principal Interest Total Principal Interest Total 2010 $ 1,962,500 $ 1,560,576 2011 25,070, 000 1,440,678 2012 4,220,000 1,284,405 2013 4,380,000 1,120,503 2014 4,550,000 948,815 2015-2019 20, 070, 000 1,840,032 2020-2024 - - 2025-2029 - - $ 3,523,076 $ 3,638,591 $ 35,919 $ 3,674,510 26,510,678 985,499 471,009 1,456,508 5,504,405 410,000 678,700 1,088,700 5,500,503 450,000 656,150 1,106,150 5,498,815 450,000 631,400 1,081,400 21,910,032 2,570,000 2,768,425 5,338,425 - 3,565,000 1,958,550 5,523,550 - 4,895,000 789,800 5,684,800 Total $60,2521500 $ 8,195,009 $68,447,509 $16,964,090 $ 7,989,953 $24,954,043 At September 30, 2009, the current portion of the unamortized loss on refunding is $20,974. Long -Term Debt at September 30, 2009 is composed of the following issues: 121,455,000 Infrastructure Sales Surtax Revenue Bonds, Series 2003 Type: General Government Revenue Bonds Dated: March 2003 Final maturity: Year 2018 Principal payment date: April 1 Interest payment dates: April 1 and October 1 Interest rates: 3.0% to 4.0% Amount outstanding at September 30th: $14,305,000 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 $16,892,989. For the fiscal year, principal and interest paid was $1,819,401 and total pledged revenue was $13,702,434. Purpose: To construct and acquire equipment and capital improvements. Call provisions: First redemption date may not be later than 4/20113 and no call premium may exceed 2% of the par amount redeemed. $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: $26,910,000 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 $32,545,150. For the fiscal year, principal and interest paid was $3,698,900 and total pledged revenue was $13,702,434. Purpose: To construct and acquire equipment and capital improvements. Call provisions: None D-26 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 12 — LONG-TERM DEBT — (Continued) $21,000,000 Florida Rural Utility Financing Commission_ Revenue Notes, Series 2008A Type: General Government Revenue Notes Dated: January 2008 Final maturity: Year 2011 Principal payment date: 2011 Interest payment dates: January 1 and July 1 Interest rate: 4.2% Amount outstanding at September 30th: $21,000,000 Reserve requirement: None Revenue pledged: Permanent financing proceeds. The total principal and interest remaining to be paid is $22,323,000. For the fiscal year, principal and interest paid was $882,000. Purpose: Wastewater capital improvements. Call provisions: None $30,455,000 Key West International Airport Revenue Bonds Type. Enterprise Revenue Bond Dated: July 2006 Final maturity: Year 2033 Principal payment date: October 1 Interest payment dates: Monthly Interest rates: variable, maximum Amount outstanding at September 30th: $17,210,000 of 5.5% Reserve requirement: $2,759,567 Revenue Pledged: (1) Net Revenues (as defined in the Resolution) to be derived from the operation of the airport, (2) Other Available Moneys (as defined in the Resolution), (3) Hedge Receipts and (4) (until applied in accordance with the provisions of the Resolution) all moneys, including investments thereof, in certain of funds and accounts established under the Resolution, and (5) the Reserve Account. The total principal and interest remaining to be paid is $25,145,773. For the fiscal year, principal of $7,890,000 was funded by pledged revenues of $12,305,864 and interest of $228,552 was funded by capitalized interest secured when the bonds were issued. Purpose: Acquire, construct and equip various capital improvements at the Key West International Airport Call provisions: (1) Optional Redemption at par on any date (2) Mandatory redemption at par at the option of the Bank upon the event of default under the Reimbursement Agreement or with respect to Bank Bonds. At least 15 days notice of mandatory tender. of Series 2006 Bonds for purchase; at least 30 days notice of redemption. $4,143.945 Solid Waste Disposal Svstem Refunding Revenue Note, Series 2002 Type. Enterprise Revenue Note Dated: December 2002 Final maturity: Year 2012 Principal payment date: October 1 Interest payment dates: April 1 and October 1 Interest rates: 3.41% Amount outstanding at September 30th. $1,554,104 Reserve requirement: None. D-27 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 12 — LONG-TERM DEBT -- (Continued) �4,143,945 Solid Waste Disposal System Refunding Revenue Note, Series 2002 - (Continued) Revenue pledged: Gross revenues from the solid waste disposal, collection and management systems. The total principal and interest remaining to be paid is $1,634,781. For the fiscal year, principal and interest paid was $545,503 and total pledged revenue was $14,229,984. Purpose: To refund on a current basis the Monroe County Municipal Service District Refunding Improvement Bonds, Series 1991. Call provisions: No prepayment penalty. Bank requires 10 days notice. NOTE 13 - DEFEASANCE OF DEBT In prior years, the Board defeased revenue bonds by placing the proceeds of new bonds with an escrow agent in irrevocable trust accounts to provide for all future debt service payments on the old bonds. Accordingly, the trust account assets and liabilities for the defeased bonds are not included in the Board's financial statements. The following schedule reflects outstanding principal on refunded bonds, by issue, as of September 30, 2009: Governmental Activities: $5,000,000 Improvement Revenue Bonds, Series 1988; defeased on May 1, 1993 using proceeds from the Refunding Revenue Bonds, Series 1993/88 $ 365,000 Business -type Activities: $8,000,000 Municipal Service District Improvement Revenue Bonds, Series 1980; defeased on December 6, 1985 using proceeds from the $9,211,774 Municipal Service District Refunding Improvement Bonds, Series 1985 $ 5,370,000 $9,211,774 Municipal Service District Refunding Improvement Bonds, Series 1985; defeased on April 1, 1991 using proceeds from the Municipal Service District Refunding Improvement Bonds, Series 1991 3,955,000 Total Business —type Activities $ 9,325,000 NOTE 14 — INTEREST RATE CAP Contracts - The Board has an interest rate cap agreement in effect at September 30, 2009 for the $30,455,000 Key West International Airport Variable Rate Revenue Bonds (Key West International Airport), Series 2006 ("Series 2006"). Objectives - As a means to manage interest rate risk related to the variable rate bonds at the time of issuance on July 18, 2006, the Board entered into an interest rate cap agreement in connection with its Series 2006 bonds. The intention of the cap agreement was to effectively limit the Board's maximum variable interest rate on the bonds to a fixed rate of 5.50% for a period of approximately three years. Terms, fair values, and credit risk - The terms, fair values, and credit ratings of the outstanding cap as of September 30, 2009 are as follows. The notional amount of the cap agreement matches the principal amount of the associated debt and declines with the principal amortization on the bonds. D-28 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 14 — INTEREST RATE CAP — (Continued) Associated Notional Effective Fixed Variable Rate Fair Termination Counterparty Bond lssue Amount Date Rate (1) Value Date Credit Rating (2) Series July 18, October 1, 2006 $ 30,455,000 2006 5.50% Weekly Rate $0 2009 Aa2/A+/A+ (1) Determined weekly by Remarketing Agent (2) Counterparty's guarantor Credit risk - As of September 30, 2009 the positive fair value of the agreement represents the Board's exposure to credit risk. Should the counterparty to the cap fail to perform according to the terms of the cap agreement, the Board faces variable credit risk to the same extent as if the Board had not entered into the cap agreement. The counterparty carries a guarantee by an entity Ccounterparty guarantor") rated Aa2 by Moody's Investors Service (Moody's), A+ by Standard and Poor's (S&P), and A+ by Fitch Ratings (Fitch). Basis risk - The cap does not expose the Board to basis risk. Termination Risk - The. Board or the counterparty may terminate the cap agreement if the other party fails to perform under the terms of the contract. An additional termination event occurs if the counterparty ratings fall below specified categories by Moody's and S&P, and any other Rating Agency. The swap may be terminated by the Board with 30 days notice and the counterparty can terminate the swap if the Board fails below Baa2 by Moody's, BBB by S&P, and an equivalent investment grade from any other Rating Agency, provided however that any termination must have insurer consent. Rollover Risk - The Board is exposed to rollover risk on the interest cap agreement that terminates prior to the associated debt. When this agreement terminates, the Board will not realize the synthetic rate offered by the agreement on the underlying debt issue. In order to continue to manage interest rate risk related to the variable rate bonds, on October 1, 2009 the Board entered into another interest rate cap agreement in connection with its Series 2006 bonds. The intention of the cap agreement is to effectively limit the Board's maximum variable interest rate on the bonds to a fixed rate of 5.50% for a period of two years. The terms, fair values, and credit ratings of the outstanding cap as of October 1, 2009 are as follows. The notional amount of the cap agreement matches the estimated principal amount of the bonds outstanding at the inception of the agreement and declines with the principal amortization on the bonds. Associated Notional Effective Fixed Variable Rate Fair Termination Bond issue Amount Date Rate (1) Value(3L Date Series October October .1, 2006 $ 15,000,000 1, 2009 5.50% Weekly Rate $26,900 2011 Al/A+/A+ (1) Determined weekly by Remarketing Agent (2) Counterparty's guarantor (3) As of October 1, 2009 D-29 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year,Ended September 30, 2009 . 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. Industrial Development Bonds (North Key Largo Utility Corp. System). Series 2005 — The Monroe County Industrial Development Authority issued Industrial Development Revenue Bonds (North Key Largo Utility Corporation System), Series 2005 totaling $2,965,000 on September 1, 2005 for the exchange of a like principal of the $3,400,000 of Industrial Development Revenue Bonds issued in 1995 related to the North Key Largo Utility Corporation Project. 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 2005 Bonds is March 1, 2025. 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 is 100% used and has no remaining landfill life. Closure of these landfills was substantially completed during the year ended September 30, 1994. The Board has another landfill site, which has never been used. Accordingly, no future closure cost is accruable except for post closure costs estimated to be incurred in the coming D-30 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 16 — RECOGNITION OF CLOSURE AND POST CLOSURE COST -- (Continued) year. At September 30, 2009, the estimated future cost for post closure maintenance, which is reported as a long-term liability in the Municipal Service District -Waste enterprise fund, was $408,441. For the public landfill, accounted for in the Municipal Service District -Waste enterprise fund, expenses associated with the final closure and post closure maintenance of landfill areas are recognized over the active life of those areas. These costs are recognized in each operating period based on the amount of waste received during that period, regardless of when cash disbursements are made for these costs. The cumulative effect of updated and revised estimates of closure -related costs is recognized in the period of the change to the extent it relates to current and past operations. The Florida Department of Environmental Protection approved a post closure operating plan, which permits the Board to fund closure, and post closure costs as an operating expense using annual appropriations. 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. In accordance with laws and regulations, the landfill had cash and investments of $1,890,454 held for these purposes at September 30, 2009. 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 Interfund balances at September 30, 2009 are as follows: Due to General Fund from: Governmental Grants Fund $ 5,865 Nonmajor Governmental Funds 73,024 Total 78,889 Due to Governmental Grants Fund from: General Fund 201,138 Marathon Airport 93,245 Nonmajor Governmental Funds 27,950 Total 322,333 Due to One Cent Infrastructure Surtax Fund from: Governmental Grants Fund 433,036 Due to Big Coppitt Wastewater Project Fund from: Governmental Grants Fund 4,401 Due to Nonmajor Governmental Funds from: General Fund 263,337 Governmental Grants Fund 176,539 D-31 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 17" - INTERFUND BALANCES — (Continued) Big Coppitt Wastewater Project Fund Nonmajor Governmental Funds Total Due to Municipal Svc District Fund from: General Fund Road & Bridge Fund Card Sound Road Fund Internal Service Funds Nonmajor Governmental Funds Total Due to Key West Airport Fund from: Marathon Airport Due to Marathon Airport Fund from: One Cent Infrastructure Surtax Fund Key West Airport Fund Total Total Interfund Balances 112,779 24,538 577,193 2,432 1,848 220 124 5,195 9,819 18,081 375 4,924 5,299 $1,449, 051 During the course of operations, transactions occur which result in amounts owed to a particular fund by another fund, other than for goods provided or services rendered. These receivables and payables are due within a year and are classified as "Due from other funds/Due to other funds" on the governmental funds balance sheet or proprietary fund statement of net assets. NOTE 18 - INTERFUND TRANSFERS .Interfund transfers at September 30, 2009 are as follows: Transfers to General Fund from: Road & Bridge Fund One Cent Infrastructure Surtax Fund Municipal Svc District Waste Fund Card Sound Road Fund Marathon Airport Fund Internal Service Funds Nonmajor Governmental Funds Total Transfers to Fine and Forfeiture Fund from: Nonmajor Governmental Funds $595, 728 287,227 211,582 138,987 94,440 667,482 2,774,784 4,770,230 130,974 D-32 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 18 - INTERFUND TRANSFERS — (Continued) Transfers to Governmental Grants Funds from: General Fund Fine and Forfeiture Fund Road & Bridge Fund One Cent Infrastructure Surtax Fund Nonmajor Governmental Funds Total Transfers to One Cent Infrastructure Surtax Fund from: Governmental Grants Fund 205,975 20,430 143,011 243 26,417 396,076 545,851 Transfers to Infrastructure Revenue Bonds, Series 2003 Fund from: One Cent Infrastructure Surtax Fund 3,000,000 Nonmajor Governmental Funds 40,424 Total 3,040,424 Transfers to Infrastructure Revenue Bonds, Series 2007 Fund from: Governmental Grants Fund 2,727 Transfers to Big Coppitt Wastewater Project Fund from: Governmental Grants Fund 4,585,356 Transfers to Nonmajor Governmental Funds from: Governmental Grants Fund 664,236 One Cent Infrastructure Surtax Fund 6,114,000 Total 6,778,236 Transfers to Key West Airport Fund from: One Cent Infrastructure Surtax Fund 2,500,000 Transfers to Marathon Airport Fund from: One Cent Infrastructure Surtax Fund 6,074 Key West Airport Fund 6,016 Total 12,090 Total Interfund Transfers $22,761,964 The major fund, One Cent Infrastructure Surtax, interfund transfers out totaling $11,907,544 are related to the funding of debt service as well as partial funding for the Nelson Government Center, the new Judicial Courthouse, and the new Medical Examiner's offices which are accounted for in the Infrastructure Revenue Bonds, Series 2003 major fund. The Key West Airport major enterprise fund also received partial funding from the same source for the new Key West Airport terminal. Resources of $4,585,356 from the DEP Grants in the Grant major fund are transferred out to the Big Coppitt Wastewater capital project for partial funding. Other transfers in and out are related to supporting operations and grant match requirements. D-33 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 19 - RISK MANAGEMENT The Board is exposed to various risks of loss related to tort; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. During the fiscal years ended 1976, 1984 and 1988, the Board established the Worker's Compensation, Group Insurance, and Risk Management Funds, respectively, as internal service funds to account for and finance its uninsured risks of loss. Under these programs, the Worker's Compensation provides $1,000,000 coverage per claim. 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 $100,000 self -insured retention, and building property damage is covered for the actual value of the building with a deductible between $100,000 and $250,000. Deductibles for windstorm and flood vary by location. The Board purchases commercial insurance for claims in excess of coverage provided by the funds and for all other risks of loss. Settled claims have not exceeded this commercial coverage in any of the past three years. All funds of the Board participate in the programs and make payments to the Worker's Compensation, Group Insurance and Risk Management Funds based on estimates of the amounts needed to pay prior and current year claims. The claims liabilities reported at September 30, 2009 are based on the requirements of Governmental Accounting Standards Board Statement No. 10, which requires that a liability for claims be reported if information prior to the issuance of the financial statements indicates that it is probable that a liability has been incurred at the date of the financial statements and the amount of the loss can be reasonably estimated.. Changes in the claims liability amounts in fiscal year 2009 and 2008 were: Worker's Group Risk Comp; Insurance Mgmt Total Unpaid claims at Sept. 30, 2007 $1,794,351 $3,641,266 $1,547,490 $6,983,107 Incurred claims (including IBNRs) 2,135,393 12,150,206 264,153 14,549,752 Claim payments 2,641,761 (12,146,410) (21.4,153) (15,002,324) , Unpaid claims at Sept. 30, 2008 1,287,983 3,645,062 1,597,490 6,530,535 Incurred claims (including IBNRs) 2,207,489 14,332,130 (1,303,366) 15,236,253 Claim payments _ (1,960,825) (13,397,020) (152,739) (15,510,584) Unpaid claims at Sept. 30, 2009 $1,534,647 $4,580,172 $141,385 $6,256,204 NOTE 20 - LITIGATION The Board is a defendant in various lawsuits and is involved in other disputes wherein substantial amounts are claimed. In the opinion of the Board, these suits and claims should not result in judgments or settlements, which, in aggregate, would have a material adverse effect on the Board's financial condition. NOTE 21 - COMMITMENTS AND CONTINGENCIES Grant Programs - The Board participates in a number of federally assisted grant programs. These programs are subject to financial and compliance audits by the grantors or their representatives. D-34 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2009 NOTE 21 - COMMITMENTS AND CONTINGENCIES — (Continued) Arbitrage Rebate - In accordance with the Tax Reform Act of 1986, any interest earnings on borrowed construction funds in excess of the interest costs are required to be rebated to the federal government. As of September 30, 2009, the Board has estimated its arbitrage rebate liability to be $296,644 for its business -type activities. 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. Letter of Credit — The Board has issued $30,455,000 Key West International Revenue Bonds, Series 2006 (the Series 2006 Bonds) for the primary purpose of providing funds necessary to finance the acquisition, construction and equipping of certain airport facilities. In order to provide security for the payment when due of the principal and interest on the Series 2006 bonds, the Board has requested a bank to issue its irrevocable direct pay letter of credit naming U.S. Bank National Association, the bonds' paying agent, as beneficiary. The letter of credit is for an amount sufficient to pay interest at a maximum interest rate of 12% per annum. The agreement expires on October 15, 2011. Wastewater Permanent Financing - The Board. is constructing a wastewater treatment collection system to service Geiger and Rockland Keys which required the Board to fund $21,000,000 of the costs. The Board secured interim financing through the Florida Rural Utility Financing Commission Revenue Notes. By Resolution 386 2009 adopted October 21, 2009; the Board ratified the execution of a loan agreement on September 8, 2009 which provides permanent financing through the Clean Water State Revolving Fund Loan program of the Florida Department of Environmental Protection. The permanent financing provides a maximum of $20,134,400 for the completion of the wastewater project and the retirement of the outstanding revenue notes. The loan will bear interest at 2.71 %. Repayment is to be made semiannually in the amount of $668,374 in 40 semiannual loan payments based on the total amount of funding available. However, adjustments to the repayment terms may be made as a result of project changes agreed upon by the Florida Department of Environmental Protections. The Board does not anticipate any draws on the permanent financing until March, 2010. NOTE 22 — SUBSEQUENT EVENT Pursuant to the provisions of Monroe County Resolution 238-C, the Board redeemed $3,485,000 of the Airport Variable Rate Revenue Bonds, Series 2006 maturing in 2035-2033 as described in the table below. Funding Source Date Amount Passenger Facility Fees November, 2009 $ 1,615,140 Monroe County November, 2009 4,860 Fla. Dept. of Transportation November, 2009 825,000 Fla. Dept. of Transportation December, 2009 1,040,000 Total $ 3,485,000 D-35 COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS ONE CENT INFRASTRUCTURE SURTAX CAPITAL PROJECT FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL. FOR THE YEAR ENDED SEPTEMBER 30, 2009 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $13,999,998 $13,733,097 $13,702,434 $ (30,663) Investment Income 399,998 400,000 467,819 67,819 Miscellaneous - 550,000 854,842 304,842 Total Revenues 14,399,996 14 683,097 15,025,095 341,998 EXPENDITURES: Current: Capital Outlay: General Government: ADA Assessments 271,000 271,000 186,934 84,066 General Government Projects 350,851 524,500 408,377 116,123 Total General Government 621,851 795,500 595,311 200,189 Public Safety 1 Public Safety Capital Projects 1,157,090 2,280,428 754,595 1,525,833 Med Exam Environmental Mitigtn - 5,500 - 5,500 Total Public Safety 1,157,090 2,285,928 754,595 1,531,333 Physical Environment 257,906 1,807,906 1,187,151 620,755 Transportation: Const. Mgmt 1,073,493 602,317 451,169 151,148 Culture and Recreation 2,000 000 2,000,000 2,000,000 Total Capital Outlay Expenditures 5,110,340 7,491,651 4,988,226 2,503,425 Excess/Deficiency of Revenues Over/(Under) Expenditures 9,289,656 7,191,446 10,036,869 2,845,423 Other Financing Sources/(Uses): Reserve for Contingencies (500,000) (500,000) - 500,000 Transfers from Other Funds - 1,121,938 545,851 (576,087) Transfers to Other Funds 19,634,752 (22,211,481) _ (11,907,544) 10,303,937 Total Other Financing Sources/(Uses) (20,134,752) (21,589,543) 11,361,693 10,227,850 Net Change in Fund Balances (10,845,096) (14,398,097) (1,324,824) 13,013,273 Fund Balances, October 1 10,845,096 14,398,097 17,542,635 3,144,538 Fund Balances, September 30 $ - $ - $16,217,811 $ 16,217,811 E-1 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS INFRASTRUCTURE SALES SURTAX REVENUE BONDS, SERIES 2003 CAPITAL PROJECTS FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2009 REVENUES: Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Capital Outlay: General Government: General Government Project General Government Project II Total General Government Human Services: Human Service Projects Original Final Budget Budget Actual Variance with Final Budget Positive ( Negative) 7,474 $ 7,474 3,703 3,703 - - 11,177 11,177 939,086 1,392,822 1,383,011 9,811 130,000 1,388,973 93,623 1,295,350 1,069,086 2,781,795 1,476,634 1,305,161 476,329 785,878 768,244 17,634 Total Capital Outlay Expenditures 1,545,415 3,567,673 2,244,878 1,322,795 Excess/Deficiency of Revenues Over/(Under) Expenditures _1,545,415) 3,567,673 t2,233,701n 1,333,972 Other Financing Sources/(Uses): Transfers from Other Funds 1,545,415 3,567,673 3,040,424 (527,249) Net Change in Fund Balances - - 806,723 806,723 Fund Balances, October 1 - - 305,821 305,821 Fund Balances, September 30 $ - $ - $ 1,112,544 $ 1,112,544 E-2 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS INFRASTRUCTURE SALES SURTAX REVENUE BONDS, SERIES 2007 CAPITAL PROJECTS FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2009 REVENUES: Intergovernmental Investment Income Total Revenues EXPENDITURES: Current: Capital Outlay: General Government Projects Public Safety Projects Physical Environment Projects Culture and Recreation Projects Total Capital Outlay Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Transfers from Other Funds Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ - $ - $ 250,048 $ 250,048 500,000 500,000 548,293 48,293 500,000 500,000 798,341 298,341 2,576,460 23,228 5,743 17,485 7,953,652 7,624, 704 2,378,931 5,245,773 5,000,000 11,038,088 7,013,607 4,024,481 86,192 88,920 20,326 68,594 - w 15,616,304 18,774,940 9,418,607 9,356,333 15,116,304 (18,274,940) (8,620,266) 9,654,674 2,727 2,727 - (15,116,304) (18,272,213) (8,617,539) 9,654,674 15,116,304 18,272,213 24,823,442 6,551,229 $ 16, 205, 903 $16,205, 903 E-3 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS BIG COPPITT WASTEWATER PROJECT, CAPITAL PROJECTS FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2009 REVENUES: Intergovernmental Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Capital Outlay: Physical Environment: Big Coppitt Wastewater Big Coppitt WW Bridge Loan Big Coppitt WW DEP Grant Rockland/Geiger WW DEP Grant BC Special Assessment Refund Big Coppitt Special Assessment Total Physical Environment Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 3,025,508 $ - $ 27,074 $ 27,074 - - 472,143 472,143 - 459,179 657,065 197,886 3,025,508 459,179 1,156,282 6971103 - 914,470 419,748 494,722 12,467,766 16,442,526 8,869,747 7,572,779 3,025,508 3,025,508 2,203,594 821,914 - 133,000 - 133,000 - 5,000 - 5,000 1,281,712 1,483,806 - 1,483,806 16,774,986 22,004,310 11,493,089 1.0,511,221 Total Capital Outlay Expenditures 16,774,986 22,004,310 11,493,089 10,511,221 Excess/Deficiency of Revenues Overt(Under) Expenditures Other Financing Sources/(Uses): Dent Proceeds Transfers from Other Funds (13,749,478) (21,545,131) (10,336,807) 11,208,324 12,467,766 2,589,650 - (2,589,650) - 3,125,508 4,585,356 1,459,848 Total Other Financing Sources/(Uses) 12,467,766 5,715,158 4,585,356 (1,129,802) Net Change in Fund Balances Fund Balances, October 9 Fund Balances, September 30 (1,281,712) (15,829,973) (5,751,451) 10,078,522 1,281,712 15,829,973 13,762,825 (2,067,148) $ 8,011,374 $ 8,011,374 E-4 NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS AFFORDABLE HOUSING PROGRAMS To account for revenues and expenditures of various low income housing programs. TOURIST DEVELOPMENT DISTRICTS To account for the local option four -cent bed tax in five districts, all districts two cent, and administrative and promotional funds for the expenditures of advertising, promotions, and special events of the County Tourist Development Council. IMPACT FEES To account for the revenues and expenditures relating to impact fees collected for roadways, parks and recreation, libraries, solid waste, police facilities, fire and EMS, and fair share housing. FIRE AND AMBULANCE DISTRICT #1, LOWER AND MIDDLE KEYS To account for revenues and expenditures in District #1 for fire and ambulance services. UPPER KEYS HEALTH CARE SPECIAL TAXING DISTRICT To account for all transportation and hospitalization costs of Monroe County trauma patients in Dade County. UNINCORPORATED AREA SERVICE DISTRICTS To account for all revenues and expenditures for planning, building and zoning and parks and recreation services provided only to the unincorporated area of the County. LOCAL HOUSING ASSISTANCE SPECIAL REVENUE FUND The Local Housing Assistance Fund is used to account for the revenues and expenditures for the administration and implementation of the State Housing Initiatives Partnership Program. MUNICIPAL POLICING To account for all revenues and expenditures for local road patrol law enforcement in the City of Marathon, City of Layton and Islamorada, Village of Islands. 911 ENHANCEMENT FEES To account for fees levied on each telephone access line in Monroe County for the enhancement of the 911 emergency telephone system. DUCK KEY SECURITY DISTRICT To account for the revenues and expenditures in providing security services for the Duck Key District. BOATING IMPROVEMENT To account for revenues and expenditures for providing boating -related activities, for removal of vessels and floating structures deemed a hazard to public safety and health, and for manatee and marine mammal protection and recovery. MISCELLANEOUS SPECIAL REVENUE To account for revenues and expenditures earmarked for specific purposes. (Continued) NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS — CONTINUED ENVIRONMENTAL RESTORATION To account for all revenue and expenditures for finestfees collected and earmarked for environmental protection. LAW ENFORCEMENT TRUST To account for the funds used for the purpose of training police officers and supporting personnel in the prevention, investigation, detection and identification of crime. COURT FACILITY FEES To account for revenues collected upon the institution of any civil action, suit or proceeding to be used exclusively in providing and maintaining existing and future facilities for the use of the Circuit and County Court systems. DRUG ABUSE TRUST To account for assessments collected for drug abuse programs and to disburse assistance grants for drug abuse treatment and/or educational programs which meet the standards for qualification of such programs by the Department of Health and Rehabilitative Services. MARATHON MUNICIPAL SERVICE To account for the revenues and expenditures for municipal services for Marathon. WASTEWATER MSTU To account for the revenues and expenditures for wastewater services for Conch Key, Bay Point, Big Coppitt, Key Largo, Stock Island, Cudjoe-Sugarloaf, Long Key -Layton and Duck Key. BUILDING FUND To account for the revenues and expenditures relating to building permit and related fees and for the administration and enforcement of the building code for the unincorporated area of the County. COMPREHENSIVE PLAN LAND AUTHORITY To account for the revenues and expenditures for purchasing unbuildable, recreational and conservational property and repackaging the property to meet the land use requirements. DEBT SERVICE FUNDS ALL DEBT SERVICE FUNDS 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. CAPITAL PROJECT FUNDS CLERK'S REVENUE NOTE To account for the Clerk's network system from the Florida Local Government Finance Commission Loan. DUCK KEY WASTEWATER To account for the revenues and expenditures of the wastewater infrastructure for Duck Key. MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2009 ASSETS Cash and Cash Equivalents Investments Accounts Receivable, Net Due from Other Funds Due from Other Governmental Units Due from Constitutional Officers Mortgages/Notes Receivable Allowance for Mortgages/Notes Receivable Interest Receivable Total Assets LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable Accrued Wages and Benefits Payable Due to Other Funds Due to Other Governmental Units Due to Constitutional Officers Deposits in Escrow Deferred Revenues Total Liabilities Fund Balances: Encumbrances Land Acquisition Mortgage Loans Debt Service Unreserved, Designated in Nonmajor Special Revenue Fund Unreserved, Undesignated Total Fund Balances Total Liabilities and Fund Balances SPECIAL Tourist Tourist Affordable Development Development Tourist Housing All Districts Admin & Promo Development Programs Two Cent Two Cent District #One $ 51,361 $ 2337516 $ 241,361 $ 344,395 323,372 2,384,333 2,550,217 2,848,339 - - 392 - - 24,538 - - - 323,527 670,412 583,164 - 46,826 97,033 45,230 3,647 - - - (3,647) - - - 2,895 21,199 22,689 25,453 $ 377,628 $ 3,033,939 $ 3,582,104 $ 3,846,581 $ - $ 285,654 $ 337,691 $ 468,879 - 700 745 8,808 - 11,866 12,672 - - 87,434 8,096 3,562 476 294,450 353,864 578,269 - - - 481,367 377,628 2,739,489 3,228,240 2,786,945 377,628 2,739,489 3,228,240 3,268,312 $ 377,628 $ 3,033,939 $ 3,582,104 $ 3,846,581 F-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 $ 11,073 $ 113,928 $ 82,337 $ 51,723 $ 79,869 $ 27,106 190,834 895,343 646,075 519,645 6,145, 340 379,772 53,615 145,392 88,434 123,136 - 4,705 13,909 10,386 11,504 - - 1,730 8,040 5,788 4,733 48,118 3,426 $ 261,957 $ 1,176,612 $ 833,020 $ 710,741 $ 6,273,327 $ 410,304 $ 22,545 $ 49,552 $ 30,889 $ 29,571 $ - $ - 2,133 82 82 4,029 - - - - - 1,280 - - 31 14,085 - - - - 54 126 117 126 - - 24,763 63,845 31,088 35,006 - - 237,194 1,112,767 801,932 675,735 6,273,327 410,304 237,194 1,112,767 801,932 675,735 6,273,327 410,304 $ 261,957 $ 1,176,612 $ 833,020 $ 710,741 $ 6,273,327 $ 410,304 (Continued) F-2 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING BALANCE SHEET- CONTINUED NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2009 ASSETS Cash and Cash Equivalents Investments Accounts Receivable, Net Due from Other Funds Due from Other Governmental Units Due from Constitutional Officers Mortgages/Notes Receivable Allowance for Mortgages/Notes Receivable Interest Receivable Total Assets LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable Accrued Wages and Benefits Payable Due to Other Funds Due to Other Governmental Units Due to Constitutional Officers Deposits in Escrow Deferred Revenues Total Liabilities Fund Balances: Encumbrances Land Acquisition Mortgage Loans Debt Service Unreserved, Designated in Nonmajor Special Revenue Fund Unreserved, Undesignated - otal Fund Balances Total Liabilities and Fund Balances SPECIAL Impact Fees, Impact Fees, Impact Fees, Impact Fees, Libraries Solid Waste Police Facilities Fire & EMS $ 110,189 $ . 4,146 $ 9,656 $ 30,599 693,469 25,588 53,647 190,369 114 - - - 6,180 227 537 1,715 $ 809,952 $ 29,961 $ 63,840 $ 222,683 809,952 29,961 63,840 222,683 809,952, 29,961 63,840 222,683 $ 809,952 $ 29,961 $ 63,840 $ 222,683 F-3 REVENUE FUNDS Fire & Amb Upper Keys Unincorp. Unincorp. Impact Fees, District #1, Health Care Area Service Area Service Local Fair Share Lower and Special District, Dist., Planning Housing Housing Middle Keys Taxing District Parks & Rec. Bldg. & Zoning Assistance $ 51,367 $ 32,446 $ 204,084 $ 7,038 $ 26,838 $ 108,133 327,687 3,751,347 1,426,164 1,392,182 4,554,580 630,864 - 422,553 - 3,250 13,492 - - 175,006 - - 1,533 - - 27,797 - 852 328,201 - - 125,764 - - 23,973 - - - - - - 7,105,470 - - - - - (7,105,470) 2,888 36,784 12,834 12,467 45,091 6,187 $ 381,942 $ 4,571,697 $ 1,643,082 $ 1,415,789 $ 4,993,708 $ 745,184 $ - $ 82,193 $ 137 $ 104,493 $ 32,210 $ 19,198 267,048 2,705 29,432 177,152 - - 116 19,029 - 2,917 - 18,971 2,116 - - 268 - - 36 - - - 2,349 - - 297, 014 - - - - 649,440 2,842 155,361 230,543 19,198 510,545 - - 38,650 - 381,942 3,411,712 1,640,240 1,260,428 4,724,515 725,986 381,942 3,922,257 1,640,240 1,260,428 4,763,165 725,986 $ 381,942 $ 4,571,697 $ 1,643,082 $ 1,415,789 $ 4,993,708 $ 745,184 (Continued) F-4 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING BALANCE SHEET- CONTINUED NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2009 ASSETS. Cash and Cash Equivalents Investments Accounts Receivable, Net Due from Other Funds Due from Other Governmental Units Due from Constitutional Officers Mortgages/Notes Receivable Allowance for Mortgages/Notes Receivable Interest Receivable Total. Assets LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable Accrued Wages and Benefits Payable Due to Other Funds Due to Other Governmental Units Due to Constitutional Officers Deposits in Escrow Deferred Revenues Total Liabilities Fund Balances: Encumbrances Land Acquisition Mortgage Loans Debt Service Unreserved, Designated in Nonmajor Special Revenue Fund Unreserved, Undesignated Total Fund Balances Total Liabilities and Fund Balances SPECIAL 911 Duck Key Municipal Enhancement Security Boating Policing Fees District Improvement $ .225,453 $ 6,216 $ 42,746 $ 218,346 1,447,678 39,855 269,995 1,385,088 6,957 41,928 2 36,049 128,963 - 500 - 13,110 351 2,408 12,292 $ 1,822,161 $ 88,350 $ 315,651 $ 1,651,775 $ - $ - $ 3,840 $ 56,712 11,928 83 85,843 - - 83 85,843 3,840 68,640 1,822,078 2,507 311,811 1,583,135 1,822,078 2,507 311,811 1,583,135 $ 1,822,161 $ 88,350 $ 315,651 $ 1,651,775 F-5 REVENUE FUNDS Miscellaneous Law Court Drug Marathon Special Environmental Enforcement Facility Abuse Municipal Revenue Restoration Trust Fees Trust Service $ 28,109 $ 176,371 $ 86,295 $ 183,195 $ 24,869 $ 13,115 2,031,257 1,145,913 543,624 1,160,300 157,989 38,024 - - 369 - - 58,631 - 48,476 29,058 1,146 - 15,865 10,100 4,877 10,316 1,401 822 $ 2,133,862 $ 1,332,384 $ 683,641 $ 1,382,869 $ 185,405 $ 51,961 $ 25,383 $ 1,109 $ - $ 8,173 $ - $ - - 2,727 - 4,224 - - 36,704 163 - - 36,949 - 15 - - - - - 41,514 - - - - - 30,271 - - - - 133,887 3,999 - 12,397 36,949 - 1,999,885 1,328,385 683,641 1,370,472 148,456 51,961 1,999,975 1,328,385 683,641 1,370,472 148,456 51,961 $ 2,133, 862 $ 1,332,384 $ 683,641 $ 1,382,869 $ 185,405 $ 51,961 (Continued) F-6 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING BALANCE SHEET- CONTINUED NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2009 ASSETS Cash and Cash Equivalents Investments Accounts Receivable, Net Due from Other Funds Due from Other Governmental Units Due from Constitutional Officers Mortgages/Notes Receivable Allowance for Mortgages/Notes Receivable Interest Receivable Total Assets LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable Accrued Wages and Benefits Payable Due to Other Funds Due to Other Governmental Units Due to Constitutional Officers Deposits in Escrow Deferred Revenues Total Liabilities Fund Balances: Encumbrances Land Acquisition Mortgage Loans Debt Service Unreserved, Designated in Nonmajor Special Revenue Fund Unreserved, Undesignated Total Fund Balances Total Liabilities and Fund Balances SPECIAL Bay Point Big Coppitt Key Largo Wastewater Wastewater Wastewater Stock Island MSTU MSTU MSTU Wastewater $ 14,204 $ 29,666 $ 8,241 $ 59,352 87,898 138,109 225,693 375,819 - 347 - 500 21 500 803 1,750 3,680 3,343 $ 102,905 $ 170,025 $ 237,982 $ 439,014 $ - $ - $ 194,745 $ - 2,633 1,099 237 10 - 2,633 195,854 237 102,905 167,392 42,128 438,777 102,905 167,392 42,128 438,777 $ 102,905 . $ 170,025 $ 237.982 $ 439,014 F-7 REVENUE FUNDS Cudjoe- Long Key, Sugarloaf Conch Key Layton Duck Key Building MSTU MSTU MSTU MSTU Fund $ 34,729 $ 594 $ 4,303 $ 14,769 $ 2`10,883 217,243 3,859 27,035 77,652 1,155, 320 1,960 32 243 860 10,163 $ 253,932 $ 4,485 $ 31,581 $ 93,281 $ 1,376,366 $ - $ - $ 22,262 1,126 - 107 1,412 86,801 1,570 32 - - - - - - - 8,930 1,126 32 107 1,412 119,563 252,806 4,453 31,474 91,869 1,256,803 252,806 4,453 31,474 91,869 1,256,803 $ 253,932 $ 4,485 $ 31,581 $ 93,281 $ 1,376,366 (Continued) F-8 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING BALANCE SHEET- CONTINUED NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2009 ASSETS Cash and Cash Equivalents Investments Accounts Receivable, Net Due from Other Funds Due from Other Governmental Units Due from Constitutional Officers Mortgages/Notes Receivable Allowance for Mortgages/Notes Receivable Interest Receivable Total Assets LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable Accrued Wages and Benefits Payable Due to Other Funds Due to Other Governmental Units Due to Constitutional Officers Deposits in Escrow Deferred Revenues Total Liabilities Fund Balances: Encumbrances Land Acquisition Mortgage Loans Debt Service Unreserved, Designated in Nonmajor Special Revenue Fund Unreserved, Undesignated Total Fund Balances Total Liabilities and Fund Balances Comprehensive Total Nonmajor ALL DEBT Plan Land Special Rev SERVICE Authority Funds FUNDS $ 9,200,793 $ 12,403,414 $ 269,664 - 40,457,518 3,145,546 - 439,687 - 263,337 464,414 - 19,066 2,449,362 - - 647,125 - 6,740,579 13,849,696 - - (7,109,117) - - 363,357 15,193 $ 16,223,775 $ 63,965,456 $ 3,430,403 $ 1,250 $ 1,776,486 $ - 8,881 602,163 - 130, 707 - - 127,139 - - 140,343 - 2, 349 - 336,215 - 10,131 3,115,402 - 549,285 - 2,522,915 2,522,915 - 6,740, 579 6,740,579 - - 3,430,403 - 481,367 - 6,950,150 50,555,908 - 16,213,644 60,850,054 - 3,430,403 $ 16,223,775 $ 63,965,456 $ 3,430,403 F-9 CAPITAL PROJECT FUNDS Total Clerk's Duck Key Nonmajor Revenue Wastewater Governmental Note Project Funds $ 13,510 $ 104,174 $ 12,790,762 85,335 605,527 44,293,926 - - 439,687 - 112,779 577,193 - 5,815 2,455,177 - - 647,126 - - 13,849,696 - - (7,109,117) 761 5,301 384,612 $ 99,606 $ 833,596 $ 68,329,061 $ - $ 828,500 $ 2,604,986 - - 602,163 - 130,707 - 127,139 - 140,343 - 2,349 - 336,215 - 828,500 3,943,902 549,285 - - 2,522,915 - 6,740,579 3,430,403 - - 481,367 99,606 5,096 50,660,610 99,606 5,096 64,385,159 $ 99,606 $ 833,596 $ 68, 329, 061 F-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, 2009 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 Economic Environment Human Services Culture and Recreation Court Related Capital Projects Debt Service Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures SPECIAL Tourist Tourist Affordable Development Development Tourist Housing All Districts Admin & Promo Development Programs Two Cent Two Cent District #One $ - $ 2,919,186 $ 6,049,127 $ 3,436,419 8,958 67,897 83,876 90,408 - - 873 - 8, 958 2,987,083 6,133, 876 3,526,827 10,374 3,326,111 .6,749,077 4,150,886 10,374 3,326,111 6,749,077 4,150, 886 (1,416) (339,028) (615,201) (624,059) Other Financing Sources/(Uses): Transfers from Other Funds - - - - Transfers to Other Funds - (40,171) (109,809) (43,760) Transfers from Constitutional Officers - 46,826 97,033 45,231 Transfers to Constitutional Officers - (34,432) (15,153) (2,030) Total Other Financing Sources/(Uses) - (27,777) (27,929) (559) Net Change in Fund Balances (1,416) (366,805) (643,130) (624,618) Fund Balances -October 1 379,044 3,106,294 3,871,370 3,892,930 Fund Balances -September 30 $ 377,628 $ 2,739,489 $ 3,228,240 $ 3,268,312 F-11 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 $ 317,140 $ 871,361 $ 556,359 $ 813,287 $ 7,552 20,153 27,629 17,597 137,361 17,559 - - - - 119,206 40,460 324,692 891,514 583,988 830,884 256,567 58,019 452,012 602,079 1,075,643 1,003,247 - - - - - 416,089 452,012 602,079 1,075,643 1,003,247 - 416,089 (127,320) 289,435 (491,655) (172,363) 256,567 (358,070) (19,495) (11,258) (11,134) (31,437) - - 4,705 13,909 10,386 11,504 - - (229) (535) (497) (535) - - (15,019) 2,116 (1,245) (20,468) - - (142,339) 291,551 (492,900) (192,831) 256,567 (358.070) 379,533 821,216 1,294,832 868,566 6,016,760 768,374 $ 237,194 $ 1,112,767 $ 801,932 $ 675,735 $ 6,273,327 $ 410,304 (Continued) F-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, 2009 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 Economic Environment Human Services Culture and Recreation Court Related Capital Projects Debt Service Total Expenditures SPECIAL Impact Fees, Impact Fees, Impact Fees, Impact Fees, Libraries Solid Waste Police Facilities Fire & EMS 18,114 533 1,146 4,931 38,928 9,635 19,651 14,817 57,042 10,168 20,797 19,748 Excess/Deficiency of Revenues Over/(Under) Expenditures 57,042 10,168 20,797 19,748 Other Financing Sourcest(Uses): Transfers from Other Funds - - - - Transfers to Other Funds - - - - Transfers from Constitutional Officers - - - - Transfers to Other Governments - - - - Total Other Financing Sources/(Uses) - - - - Net Change in Fund Balances 57,042 10,168 20,797 19,748 Fund Balances -October 1 Fund Balances -September 30 752,910 19,793 43,043 202,935 $ 809,952 $ 29,961 $ 63,840 $ 222,683 F-13 Fire & Amb Upper Keys Unincorp. Unincorp. Impact Fees, District #1, Health Care Area Service Area Service Local Fair Share Lower and Special District, Dist., Planning Housing Housing Middle Keys Taxing District Parks & Rec. Bldg. & Zoning Assistance $ - $ 8,958,103 $ - $ 1,154, 587 $ 1,334,430 $ - - 38,424 - 1,691 3,720,589 645,113 - 244,838 - 40,965 719,039 - - - - - 288,942 - 8,045 102,106 40,698 42,495 122,265 - 86,903 1,610 5,097 21,649 11,733 147,578 94,948 9,345,081 45,795 1,261,387 6,196,998 792,691 162,318 - - 2,119,718 - 7,494,514 - - 1,929,094 - - - - 391,198 - - - - - - 898,254 138,724 - - - - - - 1,321,115 - - 7,656,832 138,724 1,321,115 4,440,010 898,254 94,948 1,688,249 (92,929) (59,728) 1,756,988 (105,563) - 664,236 - - - - - (855,822) (23,301) (202,769) (1,363,740) - - 125,764 - - 23,973 - - (251,986) - - (47,983) - - (317,808) (23,301) (202,769) (1,387,750) - 94,948 1,370,441 (116,230) (262,497) 369,238 (105,563) 286,994 2,551,816 1,756,470 1,522,925 4,393,927 831,549 $ 381,942 $ 3,922,257 $ 1,640,240 $ 1,260,428 $ 4,763,165 $ 725,986 (Continued) F-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, 2009 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 Economic Environment Human Services Culture and Recreation Court Related Capital Projects Debt Service Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures SPECIAL 911 Duck Key Municipal Enhancement Security Boating Policing Fees District Improvement $ 2,502,842 $ 3,052,392 561,062 - 650,507 51,298 3,024 7,276 30,997 - - 75,405 1,671 5,606,532 564,086 82,681 683,175 45,029 - - - 727,406 3,468 46,834 - - - 320,737 772,435 3,468 46,834 320,737 4,834,097 560,618 35,847 362,438 Other Financing Sourcesl(Uses): Transfers from Other Funds - - - - Transfers to Other Funds (6,560) - - (8,292) Transfers from Constitutional Officers 128,963 3,986 500 - Transfers to Constitutional Officers (5,790,392) (562,543) (1,695) - Total Other Financing. Sources/(Uses) (5,667,989) (558,557) (1,195) (8,292) Net Change in Fund Balances (833,892) 2,061 34,652 . 354,146 Fund Balances -October 1 2,655,970 446 277,159 1,228,989 Fund Balances -September 30 $ 1,822,078 $ 2,507 $ 311,811 $ 1,583,135 F-15 REVENUE FUNDS Miscellaneous Law Court Drug Marathon Special Environmental Enforcement Facility Abuse Municipal Revenue Restoration Trust Fees Trust Service $ - $ - $ - $ - $ - $ 56 30,229 - - - - - 371,813 - - 310,643 16,559 - 317,692 100,231 - - - - 49,682 31,760 17,675 28,765 4,031 1,105 8,256 - - 6,057 - - 777,672 131,991 17,675 345,465 20,590 1,161 20,064 - - - - - - 128,742 - - - 713 219,107 - - - - 4,314 - - - - - 351,761 - - 140,236 - - 595,246 128,742 - 140,236 - 713 182,426 3,249 17,675 205,229 20,590 448 (167,678) - - (40,424) (36,949) - - - 48,476 - - - (210,628) - (164,024) - - (2) (378,306) - (115,548) (40,424) (36,949) (2) (195,880) 3,249 (97,873) 164,805 (16,359) 446 2,195,855 1,325,136 781,514 1,205,667 164,815 51,515 $ 1,999,975 $ 1,328, 385 $ 683,641 $ 1,370,472 $ 148,456 $ 51,961 (Continued) F-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, 2009 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 Economic Environment Human Services Culture and Recreation Court Related Capital projects Debt Service 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 Transfers to 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 $ - $ 107 $ 708 $ 463 2,381 7,507 18,775 9,742 - - - 53,748 2,381 7,614 19,483 63,953 1,050 97,013 711,246 15,570 1,050 97,013 711,246 15,570 1,331 (89,399) (691,763) 48,383 500 21 500 (1,044) (36) (1,000) - (544) (15) (500) 1,331 (89,943) (691,778) 47,883 101,574 257,335 733,906 390,894 $ 102,905 $ 167,392 $ 42,128 $ 438,777 F-17 REVENUE FUNDS Cudjoe- Long Key, Sugarloaf Conch Key Layton Duck Key Building MSTU MSTU MSTU MSTU Fund 2,566,981 - - - 5,848 7,244 66 794 2,780 28,405 - - - - 8,867 7,244 66 794 2,780 2,610,101 - - - - 2,243,314 73,957 2,805 5,621 43,674 - 73,957 2,805 5,621 43,674 2,243,314 (66,713) (2,739) (4,827) (40,894) 366,787 (33) - - - (33) - - - (66,713) (2,772) (4,827) (40,894) 366,787 319,519 7,225 36,301 132,763 890,016 $ 252,806 $ 4,453 $ 31,474 $ . 91,869 $ 1,256,803 (Continued) F-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, 2009 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 Economic Environment Human Services Culture and Recreation Court Related Capital Projects Debt Service 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 Transfers to Constitutional Officers Total Other Financing Sources/(Uses) Net Change in Fund Balances Fund Balances -October 'I Fund Balances -September 30 Comprehensive Total Nonmajor ALL DEBT Plan Land Special Rev SERVICE Authority Funds FUNDS $ - $ 28,914,175 $ - - 2,597,210 - 2,706,275 7,112,092 209,620 - 5,973,666 - 706, 865 - - 1,122, 630 136,006 994 673,138 - 2,707,269 47,099,776 345.626 2,500,882 4,827,947 - - 12,464,694 - 1,792,326 - 18,267,683 - 357,831 - 1,741,518 - 491, 997 - - - 7,036,249 2,500,882 39,943,996 7,036,249 206,387 7,155,780 (6,690,623) - 664,236 6,114,000 - (2,972,599) - 14,407 576,684 - - (7,084,777) - 14,407 (8,816,456) 6,114,000 220,794 (1,660,676) (576,623) 15,992,850 62,510,730 4,007,026 $ 16,213,644 $ 60,850,054 $ 3,430,403 F-19 CAPITAL PROJECT FUNDS Total Clerk's Duck Key Nonmajor Revenue Wastewater Governmental Note Project Funds $ 28, 914,175 - - 2,597,210 - 15,647 7,337,359 - - 5,973,666 - - 706,865 2,378 14,772 1,275,786 - 138,105 811,243 2,378 168,524 47,616,304 4,827,947 12,464,694 - 1,792,326 18,267,683 357,831 - - 1,741,518 491,997 88,091 88,091 - 7,036,249 88,091 47, 068, 336 2,378 80,433 547,968. - - 6,778,236 - (2,972,599) - 576,684 - (7,084,777) - (2,702,456) 2,378 80,433 (2,154,488) 97,228 (75,337) 66,539,647 $ 99,606 $ 5,096 $ 64,385,159 F-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, 2009 REVENUES: Investment Income EXPENDITURES: Current: Economic Environment: Affordable Housing Initiatives Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 10,000 $ ' 10,000 $ 8,958 $_ -(1,042) 294,423 294,423 10,374 284,049 284,423 (284,423) (1,416) 283,007 (73,606)(73,606) - 73;606 (358,029) (358,029) (1,416) 356,613 358,029 358,029 379,044 21,015 $ 377,628 $ 377,628 F-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, 2009 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 Overt(Under) Expenditures Other Financing Sources/(Uses): Transfers to Other Funds Transfers from Constitutional Officers Transfers to 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) $ 3,274,000 $ 3,274,000 $ 2,919,186 $ (354,814) - - _ _ 67,897 67,897 3,274,000 _ _3_274,000 21987,083 (286,917) 792,800 792,800 545,803 246,997 796,300 796,300 580,218 216,082 450,000 450,000 440,812 9,188 1,570,755 1,570,755 1,283,148 287,607 857,833 857,833 - 857,833 829,630 829,630 476,130 353,500 5,297,318 5,297,318 3,326111 1,971,207 (2,023,3.18) (2,023,318) (339,028) 1,684,290 (124,300) (124,300) (40,171) 84,129 46,826 46,826 (34,432) (34,4321 34,432 - (158,732) �5158,732�(27,777) 130,955 (2,182,050) (2,182,050) (366,805) 1,815,245 2,182,050 2,182,050 3,106,294 924,244 $ $ - $ 2,739,489 $ 2,739,489 F-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, 2009 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 6,410,000 $ 6,410,000 $ 6,049,127 $ (360,873) Investment Income - - 83,876 83,876 Miscellaneous - - 873 873 Total Revenues 6,410,000 6,410,000 _ 6,133,876 _ _ 276,124) EXPENDITURES: Current: Economic Environment: Advertising and Promotion 4,744,202 4,971,182 4,642,331 328,851 Administrative Services 764,684 764,684 695,090 69,594 Catastrophic Emergency 1,442,400 1,215,420 - 1,215,420 Special Projects 1,834,386 1,834,386 1,411,656 422,730 Total Expenditures 8,785,672 8,785,672 6,749,077 2,036,595 ExceWDeficiency of Revenues Oved(Under) Expenditures (2,375,672) 2,375,672 615,201) 1,760,471 Other Financing Sourcesf(Uses): Transfers to Other Funds (207,041) (207,041) (109,809) 97,232 Transfers from Constitutional Officers - - 97,033 97,033 Transfers to Constitutional Officers (15,153) (15,153) _ _ (15,153) - Total Other Financing Sources/Uses (222,194) (222,194) (27,929) 194,265 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (2,597,866) (2,597,866) 2,597,866 2,597,866 (643,130) 1,954,736 3,871,370 1,273,504 $ - $ - $ 3,228,240 $ 3,228,240 F-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, 2009 REVENUES: Taxes Investment Income Total Revenues EXPENDITURES: Current: Economic Environment: Advertising and Promotion Administrative Services Catastrophic Emergency Special Events Bricks and Mortar Information Services Beaches Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 2,541,000 $ 2,541,000 $ - 3,436,419 $ 895,419 - - 90,408 901408 2,541,000 2,541,000 3,526,827 985,827 1,165, 218 1,265, 218 101,291 101,291 226,748 126,748 135,906 135,906 3,229,074 3,229,074 1,254, 758 10,460 79,048 22,243 - 126,748 2,000 133,906 2,498,365 730,709 302,350 302,350 302,250 100 343,450 343,450 14,465 328,985 5,504,037 5,504,037 4,150,886 1,353,151 (2,963,037) (2,963,037) (624,059) 2,338,978 Transfers to Other Funds (78,975) (78,975) (43,760) 35,215 Transfers from Constitutional Officers - - 45,231 45,231 Transfers to Constitutional Officers 2,030 (2,030) 2,030 - Total Other Financing Sources/(Uses)- (81,005� _ (81,005) - 5� 59) 80,446 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (3,044,042) (3,044,042) (624,618) 2,419,424 3,044,042 3,044,042 3,892,930 848,888 3,268,312 $ 3,268,312 F-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, 2009 REVENUES: Taxes Investment Income Total Revenues EXPENDITURES: Current: Economic Environment: Advertising and Promotion Administrative Services Catastrophic Emergency Bricks and Mortar Information Services Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 270,000 $ 270,000 $ 317,140 $ 47,140 - - 7,552 7,552 270,000 270,000 324,692 54,692 251,025 284,418 284,138 280 12,309 12,309 9,957 2,352 33,393 - - - 207,365 199,684 81,917 117,767 76,000 76,000 76,000 580,092 572,411 452,012 120,399 (310,092) (302,411)1_ (127,320)_ 175,091 Transfers to Other Funds (11,814) (19,495) (19,495) - Transfers from Constitutional Officers - - 4,705 4,705 Transfers to Constitutional Officers (229) (229) (229) - Total Other Financing Sources/(Uses) (12,043) (19,724) (15,019) 4,705 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (322,135) (322,135) (142,339) 179,796 322,135 322,135 ' 379,533 57,398 $ $ - $ 237,194 $ 237,194. F-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, 2009 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 652,000 $ 652,000 $ 871,361 $ 219,361 Investment Income - - 20,153 20153 Total Revenues 652,000 652,000 891,514 239,514 EXPENDITURES: Current. - Economic Environment: Advertising and Promotion 174,741 282,741 263,925 18,816 Administrative Services 28,494 28,494 22,904 5,590 Special Events 116,653 116,653 30,130 86,523 Bricks and Mortar 675,654 567,654 165,120 402,534 Information Services 120,000 120,000 120,000 - Total Expenditures 1,115,542 1,116,542 602,079 513,463 Excess/Deficiency of Revenues Over/(Under) Expenditures _(463,542) 1463,542) 289,435 752,977 Other Financing Sources/(Uses): Transfers to Other Funds (20,518) (20,518) (11,258) 9,260 Transfers from Constitutional Officers - - 13,909 13,909 Transfers to Constitutional Officers (535) L535) J535) - Total Other Financing Sources/(Uses) (21,053) (21,053) 2,116 23,169 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (484,595) (484,595) 291,551 776,146 484,595 484,595 821,216 336,621 $ 1,112,767 $ 1,112,767 F-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, 2009 - Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: axes $ 622,000 $ 622,000 $ 556,359 $ (65,641) Investment Income - - 27,629 27,629 Total Revenues 622,000 622,000 583,988 _ ._�38,012) EXPENDITURES: Current: Economic Environment: Advertising and Promotion 655,016 869,416 856,888 12,528 Administrative Services 34,810 34,810 18,162 16,648 Catastrophic Emergency 80,782 - - - Special Events 263,418 129,800 69,775 60,025 Bricks and Mortar 469,489 469,489 20,818 448,671 Information Services 110,000 110,000 110,000 - Total Expenditures 1,613,515 1,613,515 1,075,643 537,872 Excess/Deficiency of Revenues Over/(Under) Expenditures _ (991,515) 991,515 491,655 499,860 Other Financing Sources/(Uses): "transfers to Other Funds (19,833) (19,833) (11,134) 8,699 Transfers from Constitutional Officers - - 10,386 10,386 Transfers to Constitutional Officers (497) (497) (497) - Totai Other Financing Sources/(Uses)-�(20,330) 20,330 _ (1,245) 19,085 Net Change in Fund Balances (1,011,845) (1,011,845) (492,900) 518,945 Fund Balances, October 1 1,011,845 1,011,845 1,294,832 282,987 Fund Balances, September 30 $ - $ - $ 801,932 $ 801,932 F-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, 2009 . REVENUES: Taxes Investment Income Total Revenues EXPENDITURES: Current: Economic Environment: Advertising and Promotion Administrative Services Information Services Catastrophic Emergency Special Events Bricks and Mortar Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 676,000 $ 676,000 $ 813,287 $ 137,287 - - 17, 597 17,597 676,000 676,000 830,884 154,884 572,357 649,702 638,786 10,916 30,616 30,616 22,901 7,715 125,000 125,000 125,000 - 58, 845 - - - 95,388 76,888 59,300 17,588 530,273 519,937 157,260 362,677 1,412 ,479 1,402,143 1,003,247 398,896 736,479 (726,143) (172,363) 553,780 Transfers to Other Funds (21,101) (31,437) (31,437) - Transfers from Constitutional Officers - - 11,504 11,504 Transfers to Constitutional Officers (535) _(535) (535) - Total Other Financing Sources/(Uses) (21,636) (31,972)-(20,4-68) 11,504 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (758,115) (758,115) (192,831) 565,284 758,115 758,115 868,566 110,451 $ 675,735 $ 675,735 F-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, 2009 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 102,800 $ 102,800 $ 137,361 $ 34,561 Miscellaneous 70,000 70,000 119,206 49,206 Total Revenues 172,800 172,800 256,567 83,767 EXPENDITURES: Current: Transportation: Fair Share Improvement County Wide 451,278 451,278 - 451,278 Fair Share Improvement Dist 1 414,258 414,258 - 414,258 Fair Share Improvement Dist 2 622,253 622,253 - 622,253 Fair Share Improvement Dist 3 3,578,312 1,778,312 - 1,778,312 Fair Share Improve Key Colony Beach 37,329 37,329 - 37,329 Truman Bridge Ped Bridge 430,000 430,000 - 430,000 C905/Card Sound Road Intersection - 1,800,000 - _ 1,80fl 000 Total Expenditures 5,533,430 5,533,430 - 5,533,430 Excess/Deficiency of Revenues Over/(Under) Expenditures (5,360,630) (5,360,630) 256,567 5,617,197 Other Financing Sources/(Uses): Transfers to Other Funds (8,000) (8,000) - 8,000 Net Change in Fund Balances (5,368,630) (5,368.630) 256,567 5,625,197 Fund Balances, October 1 5,368,630 5,368,630 6,016,760 648,130 Fund Balances, September 30 $ - $ - $ 6,273,327 $ 6,273,327 F-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, 2009 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 19,000 $ 19,000 $ 17,559 $ (1,441) Miscellaneous 25,500 25,500 40,460 _ 14,960 Total Revenues 44,500 44,500 58,019 13,519 EXPENDITURES: Current: Culture and Recreation: District 1 Projects 99,795 99,795 - 99,795 District 2 Projects 246,327 246,327 - 246,327 District 3 Projects 416,089 - - - MEN Govt & Cultural Center Park - 416,089 416,089 - Total Expenditures 762,211 762,211 416,089 346,122 Excess/Deficiency of Revenues Over/(Under) Expenditures (717,711) (717,711) (358,070) 359,641 Other Financing Sources/(Uses): Transfers to Other Funds (1,125) (1,125) - 1,125 Net Change in Fund Balances (718,836) (718,836) (358,070) 360,766 Fund Balances, October 1 718,836 718,836 768,374 49,538 Fund Balances, September 30 $ - $ - $ 410,304 $ 410,304 i=-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, 2009 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 15,000 $ 15,000 $ 18,114 $ 3,114 Miscellaneous 20,000 20,000 38,928 18,928 Total Revenues 35,000 35,000 57tD42 22,042 EXPENDITURES: Current: Culture and Recreation: County Wide Library Projects 739,469 739,469 - 739,469 Excess/Deficiency of Revenues Over/(Under) Expenditures 704,469 (704,469) 57,042 761,511 Other Financing Sources/(Uses): Transfers to Other Funds (1,280) (1,280) - 1,280 Net Change in Fund Balances (705,749) (705,749) 57,042 762,791 Fund Balances, October 1 705,749 705,749 752,910 47,161 Fund Balances, September 30 $ - $ - $ 809,952 $ 809,952 F-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, 2009 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 400 $ 400 $ 533 $ 133 Miscellaneous 8,500 8,500 9,635 1,135 Total Revenues 8,900 8,900 10,168 1,268 EXPENDITURES: Current: Physical Environment: County Wide Solid Waste Projects 21,383 21,383 - 21,383 Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Transfers to Other Funds Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (12,483) - (12,483) 10,168 22,651 (2,088) (2,088) - 2,088 (14,671) (14,571) 10,168 24,739 14,571 14,571 19,793 5,222 $ - $ - $ 29,961 $ 29,961 F-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, 2009 REVENUES: Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Public Safety: County Wide Police Facility Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Transfers to Other Funds Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 1,000 $ 1,000 $ 1,146 $ 146 20,000 20,000 19,651 (349) 21,000 21,000 20,797 _ - (203) 51,234 51,234 - 51,234 (30,234} _(30L234) 20,797 51,031 (2,833) _^_ (2,833) - 2,833 (33,067) (33,067) 20,797 53,864 33,067 33,067 43,043 9,976 - $ 63,840 $ 63,840 F-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 SEPTTEMBER 30, 2009 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 5,200 $ 5,200 $ 4,931 $ (269) Miscellaneous 13,105 13,105 14,817 1,712 Total Revenues 18,305 18,305 19,748 13443 EXPENDITURES: Current: Public Safety: District 1 Fire & EMS Project 63,378 63,378 - 63,378 District 2 Fire & EMS Project 4,467 4,467 - 4,467 District 3 Fire & EMS Project 112,768 112,768 - 112,768 Key Colony Beach Fire & EMS 21,833 21,833 - 21,833 Total Expenditures 202,446 202,446 - T _ 202,446 ExceWDeficiency of Revenues Over/(Under) Expenditures (184,141) (184,141) 19,748 203,889 Other Financing Sources/(Uses): Transfers to Other Funds (2,816) (2,816) - 2,816 Net Change in Fund Balances (186,957) (186,957) 19,748 206,705 Fund Balances, October 1 186,957 186,957 202,935 15,978 Fund Balances, September 30 $ - $ - $ 222,683 $ 222,683 F-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, 2009 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 8,045 $ 8,045 Miscellaneous 13,000 13,000 86,903 73,903 Total Revenues 13,000 13,000 94,948 81,948 EXPENDITURES: Current: Economic Environment: District 1 Employee Fair Share Hsg 7,600 7,600 - 7,600 District 3 Employee Fair Share Hsg 4,750 4,750 - 4,750 Total Expenditures 12,350 12,350 - 12,350 Excess/Deficiency of Revenues Over/(Under) Expenditures 650 650 94,948 94,298 Other Financing Sources/(Uses): Reserve for Contingencies (211,933) (211,933) - 211,933 Net Change in Fund Balances (211,283) (211,283) 94,948 306,231 Fund Balances, October 1 211,283 211,283 286,994 75,711 Fund Balances, September 30 $ - $ - $ 381,942 $ 381,942 F-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, 2009 REVENUES: Taxes Intergovernmental Charges for Services Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: General Government: Property Appraiser Public Safety: Fire Rescue - Central SAFER Program Lower & Middle Keys Ambulance Dist Total Public Safety Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 9,453,729 $ 9,453,729 $ 8,958,103 $ (495,626) 33,500 33,500 38,424 4,924 360,000 360,000 244,838 (115,162) 80,000 80,000 102,106 22,106 140 140 1,610 1,470 9,927,369 9,927,369 9,345,081 (582,288) 119,378 162,318 162,318 - 2,524,485 2,524,485 1,900,356 624,129 1,161,810 1,161,810 1,071,291 90,519 4,719,720 4,719,720 4,522,867 196,853 8,406,015 8,406,015 7,494,514 911,501 1,401,976 1,359,036 1,688,249 329,213 Reserve for Contingencies (1,900,000) (1,533,738) - 1,533,738 Transfers from Other Funds 683,100 683,100 664,236 (18,864) Transfers to Other Funds (560,000) (883,322) (855,822) 27,500 Transfers from Constitutional Officers - - 125,764 125,764 Transfers to Constitutional Officers (290,000) (290,000) (251,986) 38,014 Total Other Financing Sources/(Uses) 2,066,900 2,023,960 _(317^808) 1,706,152 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (664,924) (664,924) 1,370,441 2,035,365 664,924 664,924 2,551,816 1,886,892 $ 3,922,257 $ 3,922,257 F-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, 2009 REVENUES: Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Human Services: Trauma District Administration Trauma Transportation and Treatment Trauma Pretransportation Trauma Facility Upgrade Total Human Services Excess/Deficiency of Revenues Over/(Under) Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 60,000 $ 60,000 $ 40,698 $ (19,302) - - 5,097 5,097. _ 60,000 60,000 45,795 (14,205) 196,115 196,115 79,754 116,361 200,000 200,000 58,780 141,220 2,000 2,000 190 1,810 100 100 - 100 398,215 398,215 138,724 259,491 (338,215) — 338,215) (92,929) 245,286 Other Financing Sources/(Uses)- Reserve for Contingencies (97,483) (97,483) - 97,483 Transfers to Other Funds (28,000) (28,000) (23,301) 4,699 Transfers to Constitutional Officers (100) 1100) - 100 Total Other Financing Sources/(Uses) (125,583) (125,58L (23,301i 102,282 Net Change in Fund Balances (463,798) (463,798) (116,230) 347,568 Fund Balances, October 1 463,798 463,798 1,756,470 1,292,672 Fund Balances, September 30 $ - $ - $ 1,640,240 $ 1,640,240 F-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, 2009 REVENUES: Taxes Intergovernmental Charges for Services Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Culture and Recreation: Parks & Beaches Unincorporated Jacob's Aquatic Center School Board Interlocal Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Transfers to Other Funds Original Final Budget Budget Variance with Final Budget Positive Actual (Negative) $ 1,207,056 $ 1,207,056 $ 1,154,587 $ (52,469) - - 1,691 1,691 55,000 65,000 40,966 (14,035) 55,000 55,000 42,495 (12,505) 24,000 24,000 21,649 (2,351) 1,341,056 1,341,056 1,261,387 (79,669} 1,347,496 1,236,537 1,107,574 128,963 180,000 180,000 180,000 - 40,000 40,000 33,541 6,459 1,567,496 1,456,537 1,321,115 135,422 _(226,440) ^(115,481} _ (59,728) 55,753 (303,696) (303,696) - 303,696 (93,045) (204,004} - (202,769Z 1,235 Total Other Financing Sources/(Uses) (396,741) (507,700) (202,769) 304,931 Net Change in Fund Balances (623,181) (623,181) (262,497) 360,684 Fund Balances, October 1 Fund Balances, September 30 623,181 623,181 1,522,925 899,744 - $ 1,260,428 $ 1,260,428 F-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, 2009 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 1,259,470 $ 1,259,470 $ 1,334,430 $ 74,960 Intergovernmental 4,000,000 4,000,000 3,720,589 (279,411) Charges for Services 643,818 644,933 719,039 74,106 Fines and Forfeitures 90,000 90,000. 288,942 198,942 Investment Income 100,000 100,000 122,265 22,265 Miscellaneous 30,000 30,000 11,733 (18,267) Total Revenues 6,123,288 6,124,403 6,196,998 72,595 Expenditures: Current: General Government: Property Appraiser Fees 32,557 32,557 30,554 2,003 Growth Mgmt County Attorney 467,877 364,925 364,141 784 P13oning Department 1,149,516 911,744 899,236 12,508 2010 Comprehensive Plan 358,400 206,463 46,046 160,4.17 GIS 314,133 281,093 232,760 48,333 Planning Commission 100,541 91,196 84,699 6,497 Growth Mgmt Administration 916,526 816,526 458,495 358,031 Planning and Building Refunds 2,000 10,136 3,787 6,349 Total General Government 3,341,550 2,714,640 2,119,718 594,922 Public Safety: Code Enforcement 1,009,885 1,052,885 1,049,351 3,534. Fire & Rescue Coordinator 669,010 614,488 590,605 23,883 Fire Marshall 298,617 295,184 289,138 6,046 Total Public Safety 1,977,512 1,962,557 1,929,094 33,463 Physical Environment: Pump -Out Vessel 68,587 72,702 70,251 2,451 Environmental Resources 299,302 294,435 269,072 25,363 Marine Resources 55,051 55,051 51,875 3,176 Total Physical Environment 422,940 422,188 391,198 30,990 Total Expenditures 5,742,002 5,099,385 4,440,010 659,375 Excess/Deficiency of Revenues Overl(Under) Expenditures 381,286 1,025,018 1,756,988 731,970 (Continued) F-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, 2009 Original Final Budget Budget Actual Other Financing Sources/(Uses): Variance with Final Budget Positive (Negative) Reserve for Contingencies (660,776) (610,776) - 610,776 Transfers to Other Funds (701,771) (1,398,369) (1,363,740) 34,629 Transfers from Constitutional Officers - - 23,973 23,973 Transfers to Constitutional Officers (60,000) (57,134) (47,983) 9,151 Total Other Financing Sources/(Uses) (1,422,547) (2,066,279) (1,387,750) 678,529 Net Change in Fund Balances (1,041,261) (1,041,261) 369,238 1,410,499 Fund Balances, October 1 1,041,261 1,041,261 4,393,927 3,352,666 Fund Balances, September 30 $ - $ $ 4,763,165 $ 4,763,165 F-40 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, 2009 REVENUES: Intergovernmental Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Economic Environment: Down Pymt,Wastewater,Rehab 08 Down Pymt,Wastewater,Rehab 09 Rental Rehab 09 SHIP Fair Housing 07 SHIP Fair Housing 08 SHIP Fair Housing 09 Administration 07 Administration 08 Administration 09 Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 703,295 $ 703,295 $ 645,113 $ (58,182) 128,770 128,770 - (128,770) 355,000 355,000 1471.578 207,422 1,187,065 1,187,065 792,691 394,374) 505,696 505,696 192,349 313,347 721,046 721,046 401,749 319,297 357,000 357,000 164,400 192,600 5,000 5,000 - 5,000 5,000 5,000 - 5,000 5,000 5,000 - 5,000 79,756 79,756 79,756 - 127,505 127,505 60,000 67,505 94,019 94,019 - 94,019 1,900,022 1,900,022 898,254 __ 1,001_,768 (7121957) 712,957 _(105,563) 607,394 Other Financing Sources/(Uses): Reserve for Contingencies (30,002) _ _(30,000A - 30,000 Total Other Financing Sources/(Uses) (30,000) (30,0021 30,000 Net Change in Fund Balances (742,957) (742,957) (105,563) 637,394 Fund Balances, October 1 742,957 742,957 831,549 88,592 Fund Balances, September 30 $ - $ - $ 725,986 $ 725.986 F-41 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL REVENUES: Taxes Charges for Services Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: General Government: Property Appraiser Public Safety: MUNICIPAL POLICING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2009 Original Final Budget Budget Actual Variance with Final Budget Positive (Negative) $ 2,633,605 $ 2,633,605 $ 2,502,842 $ (130,763) 3,000,000 3,000,000 3,052,392 52,392 50,000 50,000 51,298 1,298 - 985 - (985) 5,683,605 _5,684,590_ _5�606,532_ (78,058) 68,005 68,005 45,029 22,976 Insurance Unincorporated & Layton 422,436 422,436 397,397 25,039 Insurance Islamorada 179,438 179,438 170,869 8,669 Insurance Marathon 173,411 173,411 159,140 14,271 Total Public Safety 775,285 775,285 727,406 47,879 Total Expenditures 843,290 843,290 772,435 70,855 'Excess/Deficiency of Revenues Over/(Under) Expenditures 4,840,315 4,841,300 4,834,097 7,203 Other Financing Sources/(Uses): Reserve for Contingencies (776,000) (773,440) - 773,440 Transfers to Other Funds (5,000) (6,560) (6,560) - Transfers from Constitutional Officers 60,000 60,000 128,963 68,963 Transfers to Constitutional Officers (6,859,660) (5,860,645) (5,790,392) 70,253 Total Other Financing Sources/(Uses) 6,579,669 (6,580,645) , (5,667,989Y 912,656 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (1,739,345) (1,739,345) (833,892) ` 905,453 1,739,345 1,739,345 2,655,970 916,625 $ 1,822,078 $ 1,822,078 F-42 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, 2009 REVENUES: Charges for Services Investment Income Total Revenues EXPENDITURES: Current: Public Safety: 911 Enhancement Fund 911 Wireless Total Expenditures Excess/Deficiency of Revenues Over/(Under) Expenditures Original Final Budget Budget Variance with Final Budget Positive Actual (Negative) $ 464,000 $ 865,000 $ 561,062 $ (303,938) 1,000 1,000 3,024 2,024 465,000 866,000 564,086 (301,914) 1,974 1,494 1,974 1,494 1,974 - 1,494 - 3,468 3,468 3,468 - 461,532 862,532 560,618 (301,914) Other Financing Sources/(Uses): Transfers from Constitutional Officers - - 3,986 3,986 Transfers to Constitutional Officers (438,282) (839,282) (562,543) 276,739 Total Other Financing Sources/(Uses) �438,282) (839,282) 558,5EJ 280,725 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 23,250 23,250 2,061 (21,189) (23,250) (23,250) 446 23,696 2,507 $ 2,507 F-43 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, 2009 REVENUES: Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Public Safety: Island Security Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Transfers from Constitutional Officers Transfers to Constitutional Officers Total Other Financing Sourcest(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 $ 3,000 $ 7,276 $ 4,276 74,000 74,000 75,405 1,405 77,000 77,000 82,681 5,681 159,327 159,327 46,834 112,493 (82,327) (82,327) 35,847 118,174 (42,332) (42,332) - 42,332 500 500 (10,000) 001000) _ (1,695) 8,305 (52,332) (52,332) � (1,195) 51,137 (134,659) (134,659) 34,652 169,311 134,659 134,659 277,159 142,500 $ 311,811 $ 311,811 F-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, 2009 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 460,000 $ 460,000 $ 650,507 $ 190,507 Investment Income 20,000 20,000 30,997 10,997 Miscellaneous - - 1,671 1,671 Total Revenues 480,000 480,000 683,175 203,175 EXPENDITURES: Current: Physical Environment: Boating Improvement 800,000 553,690 313,086 240,604 Boating Imp Fees/Retained Vessel - 200,000 7,651 192,349 Total Expenditures 800,000 753,690 320,737 432,953 Excess/Deficiency of Revenues Overl(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Transfers to Other Funds (320,000) (273,690) 362,438 6361128 (150,000) (150,000) - 150,000 46,310 _ - 8,292) 38,018 Total Other Financing Sources/(Uses) _ (150,000) (196,310) (8,292) 188,018 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (470,000) (470,000) 354,146 824,146 470,000 470,000 1,228,989 758,989 - $ 1,583,135 $ 1,583,135 F-45 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL MISCELLANEOUS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2009. REVENUES: Licenses and Permits Charges for Services Fines and Forfeitures Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Public Safety: Interagency Communications Education -Building Department Total Public Safety Human Services: FL Keys Council for the Handicapped Animal Control Citations Bayshore Donations Traffic Educ, Ord 021-2002 Legal Aid Total Human Services Culture and Recreation: Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ - $ - $ 30,229 $ 30,229 790,986 371,813 (419,173) 243,944 317,692 73,748 - - 49,682 49,682 9,175 8,256 (919) 1,044,105 777,672 (266,433) - 500 461 39 24,500 24,500 19,603 4,897 24,500 25,000 20,064 4,936 - 3,481 58 3,423 - 180 - 180 - 1,175 120 1,055 182,225 182,225 182,225 - - 36,704 36,704 - 182,225 223,765 219,107 4,658 Settler's Park Landscaping 10,672 21,344 - 21,344 KL Community Pk Playground Equip - 9,235 - 9,235 Library Special Programs - 22,988 4,314 18,674 Total Culture and Recreation 10,672 53,567 4,314 49,253 Court Related: Alt Dispute Resolution - Civil Ord 016-2004 St Court Sup SA Ct Tech FS28.24(12)(E) PD Ct Tech FS28.24(12)(E) J Ct Tech FS28.24(12)(E) Total Court Related Total Expenditures - 10,828 6,388 4,440 100,000 227,671 - 227,671 - 432,017 43,949 388,068 - 139,991 90,447 49,544 315,559 531,892 210,977 320,915 415,559 1,342,399 351,761 990,638 632,956 1,644,731 595,246 1,049,485 (Continued) F-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, 2009 Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses)- Reserve for Contingencies Transfers from Other Funds Transfers to Other Funds Transfers to Constitutional Officers Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) (632,956) (600,626) 182,426 783,052 (867,044) (465,726) - 465,726 1,234 - (1,234) (167,678) (167,678) - (267,204) 210,628) 56,576 Total Other Financing Sources/(Uses) 867,044 (899,374) 378,306 521,068 Net Change in Fund Balances (1,500,000) (1,500,000) (195,880) 1,304,120 Fund Balances, October 1 1,500,000 1,500,000 2,195,855 695,855 Fund Balances, September 30 $ - $ - $ 1,999,975 $ 1,999,975 F-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, 2009 REVENUES: Fines and Forfeitures Investment Income Total Revenues. EXPENDITURES: Current: Physical Environment: Environmental Restoration Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Original Final Budget Budget Actual Variance with Final Budget Positive (Negative) $ 150,000 $ 150,000 $ 100,231 $ (49,769) - - 31,760 31,760 150,000 150,000 131 991 18,009 264,021 264,021 128,742 135,279 (114,021) (114,021) 3,249 117,270 _(64,804) (64,804) - 64,804 (178,825) (178,825) 3,249 182,074 178,825 178,825 1,325,136 1,146,311 $ 1,328,385 $ 1,328,385 F-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, 2009 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 17,675 $ 17,675 Miscellaneous - 211,860 - (211,860) Total Revenues - 211,860 17,675 194,185 Other Financing Sources/(Uses): Transfers from Constitutional Officers - - 48,476 48,476 Transfers to Constitutional Officers _ (612,323) (824,183) (.164,024) 660.159 Total Other Financing Sources/(Uses) (612,323) (824,183) _(_115,548), 708,635 Net Change in Fund Balances (612,323) (612,323) (97,873) 514,450 Fund Balances, October 1 612,323 612,323 781,514 169,191 Fund Balances, September 30 $ - $ - $ 683,641 $ 683,641 F-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, 2009 REVENUES: Charges for Services Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Court Related: Court Facility Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Transfers to Other Funds Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 300,000 $ 300.000 $ 310,643 $ 10,643 - - 28,765 28,765 - - 6,057 6,057 300,000 300,000 345,465 45,465 600,000 559,576 140,236 419,340 (300,000) (259,576) 205,229 464,805 (160,000) (160,000) - 160,000 (40,424) (40,424) - Total Other Financing Sources/(Uses) (160,000} 200,424 (40,424} ^^ 160,000 Net Change in Fund Balances (460,000) (460,000) 164,805 624,805 Fund Balances, October 1 460,000 460,000 1,205,667 745,667 Fund Balances, September 30 $ - $ - $ 1,370,472 $ 1,370,472 F-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, 2009 REVENUES: Charges for Services Investment Income Total Revenues Other Financing Sources/(Uses): Reserve for Contingencies Transfers to Other Funds Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 20,000 $ 20,000 $ 16,559 $ (3,441) - - 4,031 4,031 _ 20,000 20,000 20,590 590 (16,000) (16,000) - 16,000 (501000) (50,000) _ (36,949) 13,051 Total Other Financing Sourcest(Uses) (66,000)_ - _ 66,0001_ _ _ (36,949) 29,051 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (46,000) (46,000) (16,359) 29,641 46,000 46,000 164,815 118,815 - $ 148,456 $ 148,456 F-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, 2009 REVENUES:. Taxes Investment Income Total Revenues EXPENDITURES: Current: Physical Environment: Marathon Wastewater Excess/Deficiency of Revenues Over/(Under) Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ - $ - $ 56 $ 56 1,105 - 1,105 - 1,161 _ - 1,161 1,399 1,399 713 686 (1,399) (1,399) 448 1,847 Other Financing Sources/(Uses): Reserve for Contingencies (363) (363) - 363 Transfers to Constitutional Officers 154 M (2) 53 Total Other Financing Sources/(Uses) _ (418) (418) _ M 416 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (1,817) (1,817) 446 2,263 1,817 1,817 51,515 49,698 51,961 $ 51,961 F-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, 2009 REVENUES: Investment Income EXPENDITURES: Current: Physical Environment: Bay Point Wastewater Excess/Deficiency of Revenues Over/(Under) Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 500 $ 500 $ 2,381 $ 1,881 83,740 83,740 1,050 82,690 (83,240) (83,240) 1,331 84 571 Other Financing Sourcest(Uses): Reserve for Contingencies (21,472) (21,472) - 21,472 Transfers to Constitutional Officers (2,147) (2,147) - _ _ 2,147 Total Other Financing Sources/(Uses) _ 523,619) 23,619 - 23,619 Net Change in Fund Balances (106,859) (106,859) 1,331 108,190 Fund Balances, October 1 106,859 106,859 101,574 (5,285) Fund Balances, September 30 $ - $ - $ 102,905 $ 102,905 F-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, 2009 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 100 $ 100 $ 107 $ 7 Investment Income 1,000 1,000 7,507 _ 607 Total Revenues 1,100 1,100 7,614 6,514 EXPENDITURES: Current: Physical Environment: Big Coppitt Wastewater Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing. Sources/(Uses): Reserve for Contingencies. "transfers from Constitutional Officers Transfers to Constitutional Officers Total Other Financing Sources/(Uses) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 210,993 210,993 97,013_ 113,980 _ (209,893) 209,893 (89,399) 120,494 (54,803) (54,803) - 54,803 500 500 (8,221) (8,221) (1,044) 7,177 (63,-024)_ 63,024 _ (544) 62,480 (272,917) (272,917) (89,943) 182,974 272,917 272,917 257,335 (15,582) - $ 167,392 $ 167,392 F-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, 2009 REVENUES: Taxes Investment Income Total Revenues EXPENDITURES: Current: Physical Environment: Key Largo Wastewater Excess/Deficiency of Revenues Over/(Under) Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ - $ 361 $ 708 $ 347 2,000 17,836 18,775 939 2,000 18,197 19,483 1,286 430,899 715,269 711,246 4,023 (428,899) , (697,072)_ _ (691,763) 5,309 Other Financing Sources/(Uses): Transfers from Constitutional Officers (108,475) - 21 21 Transfers to Constitutional Officers 3,000 (100) 36 64 Total Other Financing Sources/(Uses) (111,475) _ - T(100) _ (15) 85 Net Change in Fund Balances (540,374) (697,172) (691,778) 5,394 Fund Balances, October 1 540,374 697,172 733,906 36,734 Fund Balances, September 30 $ - $ - $ 42,128 $ 42,128 F-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, 2009 REVENUES: Taxes Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Physical Environment: Stock Island Wastewater Stock Island Cap Fee Refund Total Physical Environment Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Original Final Budget Budget Variance with Final Budget Positive Actual (Negative) $ 463 $ 463 500 500 9,742 9,242 - - 53,748 53,748 500 500 63,953 63,453 155,513 155,513 15,570 139,943 21,303 21,303 - 21,303 176,816 176,816 15,570 161,246 (176,316) (176,316) 48,383 224,699 Reserve for Contingencies (31,955) (31,955) - 31,955 Transfers from Constitutional Officers - - 500 500 Transfers to Constitutional Officers (4,261) (4,261) (1,0001 3,261 Total Other Financing Sources/(Uses) (36,2161_ (36,216) T (500) 35,716 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (212,532) (212,532) 47,883 260,415 212,532 212,532 390,894 178,362 - $ 438,777 $ 438,777 F-56 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CUDJOE-SUGARLOAF MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2009 REVENUES: Investment Income EXPENDITURES: Current: Physical Environment: Cudjoe-Sugarloaf Wastewater Excess/Deficiency of Revenues Over/(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Transfers from Constitutional Officers Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 500 $ 500 $ 7,244 $ 6,744 108,055 108,055 73,957 34,098 (107,555) (107,555)_ _ (66,713 40,842 (19,528) (19,528) 19,528 Transfers to Constitutional Officers (2,604) ` (2,604) - 2,604 Total Other Financing Sources/(Uses) (22,132) (22,132) - 22,132 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (129,687) (129,687) (66,713) 62,974 129,687 129,687 319,519 189,832 252,806 $ 252,806 F-57 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CONCH KEY MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2009 REVENUES: Investment Income EXPENDITURES: Current: Physical Environment: Conch Key MSTU Excess/Deficiency of Revenues Over/(Under) Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 100 $ 100 $ 66 $ _ (34) 3,535 3,535 2,805 730 �(3,435) (3,435) (2,739) 696 Other Financing Sources/(Uses): Reserve for Contingencies (406) (406) - 406 Transfers to Constitutional Officers (122) 122) (33) 89 Total Other Financing Sources/(Uses) (528) (528) (3A 495 Net Change in Fund Balances Fund Balances, October I Fund Balances, September 30 (3,963) (3,963) (2,772) 1,191 3,963 3,963 7,225 3,262 4,453 $ 4,453 F-58 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LONG KEY-LAYTON MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2009 REVENUES: Investment Income EXPENDITURES: Current: Physical Environment: Long Key -Layton Wastewater Excess/Deficiency of Revenues Oved(Under) Expenditures Other Financing Sources/(Uses): Reserve for Contingencies Transfers to 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) $ 100 $ 100 $ 794 $ 694 20,743 20,743 6,621 15,122 (20,643) (20,643) (4,827j 15,816 (5,388) (5,388) - 5,388 808 (808) - 808 (61196) 6,196 - 6,196 (26,839) (26,839) (4,827) 22,012 26,839 26,839 36,301 9,462 $ 31,474 $ 31,474 F-59 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL DUCK KEY MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2009 Variance with Final Budget Original Final Positive Budget' Budget Actual (Negative) REVENUES: Investment Income $ 5,000 $ 5,000 $ 2,780 $ (2,220) EXPENDITURES: Current: Physical Environment: Duck Key Wastewater 80,797 80,797 43,674 37,123 Excess/Deficiency of Revenues Overt(Under) Expenditures (75,797) _ (75,797) _ (40,894) 34,903 Other Financing Sources/(Uses): Reserve for Contingencies (14,428) (14,428) - 14,428 Transfers to Constitutional Officers (962) 9621 - 962 Total Other Financing Sources/(Uses) (15,390) (15,3� - 15,390 Net Change in Fund Balances (91,187) (91,187) (40,894) 50,293 Fund Balances, October 1 91,187 91,187 132,763 41,576 Fund Balances, September 30 $ - $ - $ 91,869 $ 91,869 F-60 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL REVENUES: Licenses and Permits Charges for Services Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Public Safety BUILDING FUND FOR THE YEAR ENDED SEPTEMBER 30, 2009 Original Final Budget Budget Variance with Final Budget Positive Actual (Negative) $ 2,790,632 $ 2,790,632 $ 2,566,981 $ (223,651) 11,000 11,000 5,848 (5,152) 10,000 10,000 28,405 18,405 1,000 1,000 8,867 7,867 __ �812,632 2,812,632 2,610,101 (202,531) Building Department 2,434,746 2,287,746 2,236,333 51,413 Building Refunds 2,000 7,000 6,981 19 Total Public Safety -- 2,436,746 2,294,746 2,243,314 51,432 Excess/Deficiency of Revenues Over/(Under) Expenditures 375,886 517,886 366,787 (151,099) Other Financing Sources/(Uses): Reserve for Contingencies Transfers to Other Funds Total Other Financing Sources/(Uses) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (173,495) (315,495) - 315,495 - (701,771) (701,771) - 701,771 (875,266) (1,017,266) - 1,017,266 (499,380) (499,380) 366,787 866,167 499,380 499,380 890,016 390,636 - $ 1,256,803 $ 1,256,803 F-61 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL COMPREHENSIVE PLAN LAND AUTHORITY SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2009 - Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental Investment Income Miscellaneous Income Total Revenues EXPENDITURES: Current: General Government: Administrative Capital Outlay Total General Government Net Change in Fund Balances Other Financing Sources/(Uses): Transfers from Constitutional Officers Net Change in Fund Balances - Budgetary Basis Fund Balances, October 1 Fund Balances, September 30 - Budgetary Basis Reconciliation of Budgetary Basis To GAAP Basis Reconciling item: Mortgage receivable Compensation accrual $ 2,390,000 $ 2,390,000 $ 2,706,275 $ 316,275 100,000 100,000 - (100, 000) - - 994 994 _ 2,490,000 2,490,000 2,707,269 217,269 357,500 357,500 293,230 64,270 9,035,062 9,035, 062 2,206,980 6,828,082 9,392,562 9,392,562 2,500,210 6,892,352 (6,902,562) (6,902,562) 207,059 7,109,621 - - 14,407 14,407 (6,902,562) (6,902,562) 221,466 7,124, 028 9,260,480 9,260,480 9,260,480 - $ 2,357,918 $ 2,357,918 9,481,946 $ 7,124,028 6,740,579 (8,881) Fund Balances, September 30 - GAAP Basis $16,213,644 F-62 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, 2009 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 211,272 $ 211,272 $ 209,620 $ (1,652) Investment Income - 60,000 136,006 76,006 Total Revenues 211,272 271,272 345,626 74,354 EXPENDITURES: Debt Service: 2003 Revenue Bonds: Principal 1,980,418 1,980,418 1,285,000 695,418 Interest 534,402 534,402 534,401 1 Total 2003 Revenue Bonds 2,514,820 2,514,820 1,819,401 695,419 Guaranteed Entitlement Loan: Principal 630,000 626,935 626,677 258 Interest 5,031 9,017 9,017 - Total Guaranteed Entitlement Ln 635,031 635,952 635,694 258 2007 Revenue Bonds Principal 3,130,934 3,130,934 2,505,000 625,934 Interest 1,765,800 1,765,800 1,193,900 571,900 Other Debt Service Costs 105,000 105,000 254 104,746 Total Guaranteed Entitlement Ln 5,001,734 5,001,734 3,690,154 1,302,580 FRUFC Revenue Notes Interest - 882,000 882,000 - Total Expenditures 8,151,585 9,034,506 7,036,249 1,998,257 Excess/Deficiency of Revenues Over/(Under) Expenditures (7,940,313) (8,763,234) (6,690,6231 2,072,611 Other Financing Sourcest(Uses): Reserve for Contingencies (30,515) (1,457,326) - 1,457,326 Transfers from Other Funds 6,228,157 6,228,157. 6,114,000 (114,157) Total Other Financing Sources/(Uses) 6,197,642 4,770,831 6,114,000 �1,343,169 - Net Change in Fund Balances (1,742,671) (3,992,403) (576,623) 3,415,780 Fund Balances, October 1 1,742,671 3,992,403 4,007,026 14,623 Fund Balances, September 30 $ - $ - $ 3,430,403 $ 3,430,403 F-63 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF NET ASSETS INTERNAL SERVICE FUNDS SEPTEMBER 30, 2009 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 LIABILITIES Current Liabilities: Accounts Payable Accrued Wages and Benefits Payable Claims and Judgements Payable Due to Other Funds Due to Other Governmental Units Accrued Comp. Absences Payable Total Current Liabilities Noncurrent Liabilities: Accrued Comp. Absences Payable OPEB Liability Total Noncurrent Liabilities Total Liabilities NET ASSETS Invested in Capital Assets, Net of Related Debt Unrestricted Total Net Assets Worker's Group Risk Compensation Insurance Management Fund Fund Fund $ 3,685,032 $ 2,742,818 $ 581,295 1,225,578 14,865,012 4,000,156 28,949 21,799 1,124 4,072 89,536 - 12,627 93,610 - 22,163 136,240 36,781 4,978,421 17,949,015 4,619,356 849 18 29,318 849 18 29,318 4,979,270 17,949,033 4,648,674 32,251 207,552 111,814 7,326 8,517 7,161 1,534,647 4,580,172 141,385 22,102 - - 5,623 1,979 - 1,601,949 4,798,220 260,360 23,298 24,038 24,252 37,770 16,187 18,885 61,068 _ 40,225 43,137 1,663,017 4,838,445 303,497 849 18 29,318 3,315,404 13,110,570 4,315,859 $ 3,316,253 $ 13,110,588 $ 4,345,177 G-1 Fleet Management Fund Total $ 58,812 $ 7,067,957 1-3234,148 21,324,894 - 51,872 29,892 123,500 60,122 166,359 13,035 208,219 1,396,0 28,942,801 54,000 1,118,090 54,000 1,148,275 1,172,090 1,202,275 2,568,099 30,145,076 81,007 432,624 45,735 68,739 - 6,266,204 124 124 - 22,102 10,065 17,667 136,931 6,797,460 47,332 118,920 94,425 167,267 141,757 286,187 278,688 7,083,647 1,172,090 1,202,275 1,117,321 21,859,154 $ 2,259,411 $ 23,061,429 G-2 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2009 Operating Revenues: Charges for Services Miscellaneous Total operating revenues Operating Expenses: Personnel Services Operations Depreciation and Amortization Asserted and Paid Claims Total operating expenses Operating Income/Loss Non -Operating Revenues/(Expenses): Investment Income Insurance Recoveries Worker's Group Risk Compensation Insurance Management Fund Fund Fund $ 1,530,841 $ 13,186,487 $ 2.353,978 63,930. 4,538 14,478 1,594,771 13,191,025 2,368,456 182,404 207,078 173,275 378,745 653,978 1,442,545 1,295 213 511 2,207,489 15 267,240 55,249 2,769,933 16,128, 509 1,671,580 1,175,162 (2,937,484) _ 696,876 194,840 474,761 129,026 797,314 328,326 1,054,270 Gain (Loss) on Disposition of Assets - - _ (11,632) Total Non -Operating Revenues/(Expenses) 992,154 803,087 1,171,664 Income/Loss Before Contributions and Transfers Transfers to Other Funds Change in Net Assets Total Net Assets -October 1 Total Net Assets -September 30 (183,008)(2,134,397) 1,868,540 (73,594) (104,786) 64,548 (256,512) (2,239,183) 1,803,992 3,572, 765 15,349,771 2,541,185 $ 3,316,253 $ 13,110,588 $ 4,345,177 G-3 Fleet Management Fund Total $ 2,828,545 $ 19,899,851 16,224 99,170 2,844,769 19,999,021 1,020,554 1,583,311 1,472,769 3,948,037 75,653 77,672 17,529,978 2,568,976 23,138,998 275,793 (3,139277) 31,877 830,504 2,179,910 5,193 6,439 37,070 3,003,975 312,863 (136,002) . (424,644) (667,482) (111,781) (803,484) 2,401,192 23, 864,913 $ 2,289,411 $ 23,061,429 G-4 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2009 Operating Activities: Cash received for services Cash rec'vd from other funds for goods and svcs Cash received from insurance recoveries Cash payments to suppliers for goods and svcs Cash payments for employee services Cash payments to other funds Cash payments for claims Other operating revenue Net Cash Provided by/(Used in) Operating Activities Noncapital Financing Activities: Transfers to other funds Capital and Related Financing Activities: Acquisition of capital assets Investing Activities: Investment income Proceeds from sales and maturities of investments Purchase of investment securities Net Cash Provided/(Used) in Investing Activities Net Increasel(Decrease) in Cash and Cash Equivalents Cash and Cash Equivalents: October 1 Worker's Group Risk Compensation Insurance Management Fund Fund Fund $ . 74,461 $ 3,582,058 $ 45,775 1,454,462 9,457,202 2,310,958 797,314 328,900 1,053,146 (425,306) (775,201) (1,407,278) (127,440) (145,864) (132,042) (25,676) (31,898) (28,119) (1,960,825) (14,332,130) (1,511,354) 36,563 4,538 14,478 (176;447) 1,912,395 345,564 (73,504) (104,780) (64,548) (38,993) 345,084 543,968 118,021 1,435,094 9,914,076 3,458,201 1,314,429 _ (13,324,089) 3,875,561 465,749 (2,866,045) (299,339) 215,798 (4,883,226) (57,316) 3;469,234 7,626,044 638,611 September 30 $ 3,685,032 $ 2,742,818 $ 581,295 G-5 Fleet Management Fund Total $ 1,297,296 $ 4,999,590 1,581,010 14,803,632 - 2,179,360 (1,516,879) (4,124,664) (710,554) (1,115,900) (215,381) (301,074) - (17,804,309) 16,224 71,803 451,716 T (1,291,562) (424,644) (667,482) (14,600) (53,593) 19, 931 1,027,004 1,414, 353 16, 221, 724 (1,397,767) A19,911,846j 36,517 (2,663,118) 48,989 (4,675,755) 9,823 11, 743, 712 $ 58,812 $ 7,067,957 (Continued) G-6 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF CASH FLOWS - CONTINUED INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2009 Reconciliation of operating incomel(loss) to net cash provided byl(used in) operating activities: Operating incomel(loss) Adjustments to reconcile operating incomel(loss) to net cash provided by/(used in) operating activities: Depreciation and Amortization Nonoperating Income -Insurance Recoveries Change in assets and liabilities: Increase/(Decrease) in Accounts receivable Increase/(Decrease) in Due from other gov't units Increase/(Decrease) in Due fm constitutional ofcrs Increase/(Decrease) in Accounts payable Increase/(Decrease) in Accrued wages/benefits Increase/(Decrease) in Claimsljudgments 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 Camp. absences payable Increase/(Decrease) in Other current liabilities Increase/(Decrease) in OPEB liability Total adjustments Net cash provided byl(used in) operating activities Noncash investing, capital, and financing activities: Gain (Loss) on disposition of assets Cash Reconciliation: Unrestricted Worker's Group Risk Compensation Insurance Management Fund Fund Fund $ (1,175,162) $ 2,937,484 $ 696,876 1,295 213 511 797,314 328,326 1,054,270 (27,367) 574 (1,124) (4,072) (52,432) - 2,154 (93,610) 2,755 (18,361) (97,607) 51,679 813 586 (1,109) 246,664 935,110 (1,456,105) (7,666) (1,185) - 103 1,979 (7,074) (1,932) (1,052) - 9,770 4,187 4,885 998,715 1,025,089 (351,312) $ (176,447) $ (1,912,395) $ 345,564 (11,632) $ 3,685,032 $ 2,742,818 $ 581,295 G-7 Fleet Management Fund Total $ 275,793 $ (3,139, 977) 75,653 77,672 - 2,179,910 (27, 917) 61,630 5,126 (11,869) (100,570) 7,664 (56,625) 8,290 8,580 - (274,331) 81 81 (16) (7,682) - (1,185) 10,065 5,073 - (2,984) 24,425 43,267 175,923 1,848,415 $ 451,716 $ (1,291,562) $ 5,193 $ " (6,43D $ 58,812 $ 7,067,957 G-8 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 GOVERNMENT AUDITING STANDARDS To the Clerk Ex Officio, Mayor and Board of County Commissioners of Monroe County, Florida: 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, 2009, and have issued our report thereon dated March 31, 2010. 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. Internal Control Over Financial Reporting In planning and performing our audit, we considered the Board's internal control over financial reporting as a basis for designing our auditing procedures 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 over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Board's internal control over financial reporting. A control deficiency 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 misstatements on a timely basis. A significant deficiency is a control deficiency, or combination of control deficiencies, that adversely affects the Board's ability to initiate, authorize, record, process, or report financial data reliably in accordance with generally accepted accounting principles such that there is more than a remote likelihood that a misstatement of the Board's financial statements that is more than inconsequential will not be prevented or detected by the Board's internal control. A material weakness is a significant deficiency, or combination of significant deficiencies, that results in more than a remote likelihood that a material misstatement of the financial statements will not be prevented or detected by the Board's internal control. Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and would not necessarily identify all deficiencies in internal control that might be significant deficiencies or material weaknesses. We did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses, as defined above. H-1 Compliance and Other Matters As part of obtaining reasonable assurance about whether the Board's financial statements are free of 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. We noted certain matters that we reported to the management of the Board in a separate letter dated March 31, 2010. This report is intended solely for the information and use of management, the Clerk Ex Officio, the County Mayor, Board of County Commissioners of Monroe County, Florida, and applicable federal and state agencies and is not intended to be and should not be used by anyone other than these specified parties. CHERRY, BEKAERT & HOLLAND, L.L.P. C-� 1." �' '\ , , , - Orlando, Florida March 31, 2010 H-2 INDEPENDENT AUDITORS' MANAGEMENT LETTER To the Clerk Ex Officio, Mayor and Board of County Commissioners of Monroe County, Florida: 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, 2009, which collectively comprise the Board's basic financial statements, and have issued our report thereon dated March 31, 2010. 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. We have issued our 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. Disclosures in that report dated March 31, 2010 should be considered in conjunction with this management letter. Additionally, our audit was conducted in accordance with the Chapter 10.550, Rules of the Auditor General, which govern the conduct of local government entity audits performed in the State of Florida. This letter includes the following information, which is not included in the aforementioned auditors' report. The Rules of the Auditor General (Section 10.554(1)(i)1) require that we determine whether or not corrective actions have been taken to address significant findings and recommendations made in the preceding annual financial audit report. We have addressed the status of findings and recommendations made in the preceding annual financial report in Appendix A attached to this letter. The Rules of the Auditor General (Section 10.554(1)(i)2) require our audit to include a review of the provisions of Section 218.145, Florida Statutes, regarding the investment of public funds. In connection with our audit, nothing came to our attention that could cause us to believe that the Board was in noncompliance with Section 218.415, Florida Statutes, regarding the investment of public funds. H-3 The Rules of the Auditor General (Section 10.554(1}(i)3) require that we address in the management letter any recommendations to improve financial management. In connection with our audit, we did not have any such recommendations. The Rules of the Auditor General (Section 10.554(1)(i)4) require that we address violations of provisions of contracts or grant agreements, or abuse, that have an effect on the financial statements that is less than material but more than inconsequential. In connection with our audit, we did not have any such findings. The Rules of the Auditor General (Section 10.554(1)(i)5) provide that the auditor may, based on professional judgment, report the following matters that have an inconsequential effect on the financial statements, considering both quantitative and qualitative factors: (1) violations of provisions of contracts or grant agreements, fraud, illegal acts, or abuse, and (2) control deficiencies that are not significant deficiencies. In connection with our audit, we did not have any such findings. The Rules of the Auditor General (Section 10.554(1)(i)6) require 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 the notes to the financial statements. Pursuant to Chapter 119, Florida Statutes, this management letter is a public record and its distribution is not limited. Auditing standards generally accepted in the United States of America requires us to indicate that this letter is intended solely for the information and use of management, the Florida Auditor General, and is not intended to be and should not be used by anyone other than these specified parties. CHERRY, BEKAERT & HOLLAND, L.L.P. Orlando, Florida March 31, 2010 H-4 Management Letter Comments (Prior Year) - Appendix A Safeguarding of Assets Observation: During our audit of the Airport's grants, we became aware that certain eligible expenditures of the Key West International Airport were not included in the reimbursement requests. This is due to the fact that the individual preparing the reimbursement requests was not aware of the eligibility of these expenses. As a result, the Key West International Airport did not receive available sources of funding in a timely manner. It is essential that the County utilize available sources of funding for reimbursable expenditures. Current year follow up: Management hired new personnel to process billings and the problem appears to have been resolved. H-5