Fiscal Year 2013 MONROE COUNTY, FLORIDA
PROPERTY APPRAISER
SPECIAL-PURPOSE FINANCIAL
STATE M E NTS
As of and for the Year Ended September 30, 2013
And Reports of Independent Auditor
MONROE COUNTY, FLORIDA
PROPERTY APPRAISER
TABLE OF CONTENTS
REPORT OF INDEPENDENT AUDITOR. 1-2
SPECIAL-PURPOSE FINANCIAL STATEMENTS
Special-Purpose Balance Sheet—General Fund................................................................................. 3
Special-Purpose Statement of Revenues, Expenditures and Changes in
Fund Balances-General Fund 4
Notes to Special-Purpose Financial Statements ________________________________________________________________________________ 5-9
REQUIRED SUPPLEMENTARY INFORMATION
Schedule of Revenues and Expenditures- Budget and Actual-
General Fund 10
SUPPLEMENTARY INDEPENDENT AUDITOR'S REPORTS
Report of Independent Auditor on Internal Control over
Financial Reporting and on Compliance and Other Matters
Based on an Audit of Special-Purpose Financial Statements Performed
in Accordance with GovemmentAuditing Standards_____________ __________________________________________________________ 11-12
Independent Auditor's Management Letter,___________________ ________ ________ ________ ________ ________ _______________ 13-14
`6 Cherry Bekaert"'
CPAs&Advisors
Report of Independent Auditor
To the Honorable Scott Russell,
Property Appraiser of Monroe County, Florida:
Report on Financial Statements
We have audited the accompanying special-purpose financial statements of the major fund of the Monroe
County, Florida Property Appraiser (the "Property Appraiser'), as of and for the year ended September 30,
2013, and the related notes to the special-purpose financial statements as listed in the table of contents.
Management's Responsibility for the Special-Purpose Financial Statements
Management is responsible for the preparation and fair presentation of these special-purpose financial
statements in accordance with accounting principles generally accepted in the United States of America; this
includes the design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of the special-purpose financial statements that are free from material misstatement, whether due
to fraud or error.
Auditor's Responsibility
Our responsibility is to express an opinion on these special-purpose 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 special-purpose financial statements are free of material
misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
special-purpose financial statements. The procedures selected depend on the auditors judgment, including the
assessment of the risks of material misstatement of the special-purpose financial statements, whether due to
fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's
preparation and fair presentation of the special-purpose financial statements in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an,opinion on the effectiveness
of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of significant accounting estimates made
by management, as well as evaluating the overall presentation of the special-purpose financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinion.
Opinion
In our opinion, the special-purpose financial statements referred to above present fairly, in all material respects,
the financial position of the major fund of the Property Appraiser as of September 30, 2013, and the respective
changes in financial position thereof for the year then ended, in conformity with accounting principles generally
accepted in the United States of America.
Emphasis of Matter
As discussed in Note 1, the accompanying special-purpose 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-Local
Governmental Entity Audits, and are not intended to be a complete presentation of the financial position and
changes in financial position of the Property Appraiser. Additionally the special-purpose financial statements
present only the Property Appraiser and are not intended to present the financial position and changes in
financial position of Monroe County, Florida taken as a whole.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the budgetary comparison
schedule on page 10 be presented to supplement the special-purpose financial statements. Such information,
although not a part of the special-purpose financial statements, is required by the Governmental Accounting
Standards Board, who considers it to be an essential part of financial reporting for placing the special-purpose
financial statements in an appropriate operational, economic, or historical context. We have applied certain
limited procedures to the required supplementary information in accordance with auditing standards generally
accepted in the United States of America, which consisted of inquiries of management about the methods of
preparing the information and comparing the information for consistency with management's responses to our
inquiries, the special-purpose financial statements, and other knowledge we obtained during our audit of the
special-purpose financial statements. We do not express an opinion or provide any assurance on the
information because the limited procedures do not provide us with sufficient evidence to express an opinion or
provide any assurance.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated March 3, 2014 on our
consideration of the Property Appraiser's internal control over financial reporting and our tests of its compliance
with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of
that report is to describe the scope of our testing of internal control over financial reporting and compliance and
the results of that testing, and not to provide an opinion on the internal control over financial reporting or on
compliance. That report is an integral part of an audit performed in accordance with Government Auditing
Standards in considering the Property Appraiser's internal control over financial reporting and compliance.
This report is intended solely for the information and use of the Property Appraiser's management and the
Florida Auditor General and is not intended to be and should not be used by anyone other than these specified
parties.
Orlando, Florida
March 3, 2014
2
SPECIAL-PURPOSE FINANCIAL STATEMENTS
MONROE COUNTY, FLORIDA
PROPERTY APPRAISER
SPECIAL-PURPOSE BALANCE SHEET
GENERAL FUND
SEPTEMBER 30, 2013
ASSETS
Cash and cash equivalents $ 629,234
Total assets $ 629,234
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable $ 42,914
Accrued wages and benefits payable 81,308
Due to Board of County Commissioners 453,845
Due to other governmental units 51,167
Total liabilities 629,234
Fund balance -
Total liabilities and fund balance $ 629,234
See notes to special-purpose financial statements. 3
MONROE COUNTY, FLORIDA
PROPERTY APPRAISER
SPECIAL-PURPOSE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCES - GENERAL FUND
YEAR ENDED SEPTEMBER 30, 2013
Revenues:
Intergovernmental
Board of County Commissioners $ 3,171,422
Charges for services
Other taxing districts 357,551
Investment income 1,850
Miscellaneous 44,742
Total revenues 3,575,565
Expenditures:
Current:
Personnel services 2,426,249
Operating expenditures 623,736
Capital outlay 20,568
Total expenditures 3,070,553
Excess of revenues over expenditures 505,012
Other financing sources(uses):
Transfers to Board of County Commissioners (453,845)
Transfers to other governmental units (51,167)
Total other financing sources(uses) (505,012)
Net change in fund balance -
Fund balance, beginning of year -
Fund balance, end of year $ -
See notes to special-purpose financial statements. 4
MONROE COUNTY, FLORIDA
PROPERTY APPRAISER
NOTES TO SPECIAL-PURPOSE FINANCIAL STATEMENTS
SEPTEMBER 30, 2013
Note 1—Summary of significant accounting policies
Reporting Entity — The Monroe County, Florida Property Appraiser (the "Property Appraiser") is a separately
elected county official established pursuant to the Constitution of the State of Florida. These special-purpose
financial statements present only the Property Appraiser's Office and do not purport to reflect the financial
position or the results of operations of Monroe County, Florida (the"County")taken as a whole.
Entity status for financial reporting purposes is governed by Statements No. 14. Although the Property
Appraiser's Office is operationally autonomous, it does not hold sufficient corporate powers of its own to be
considered a legally separate entity for financial reporting purposes. Therefore, the Property Appraiser is
reported as a part of the primary government of Monroe County, Florida.
Measurement focus, basis of accounting, and financial statement presentation - The Property Appraiser's
special-purpose financial statements are prepared for the purpose of complying with Section 218.39(2), Florida
Statutes, and Chapter 10.550, Rules of the Auditor General(the "Rules"), which require the Property Appraiser
to only present fund financial statements. In conformity with the Rules, the Property Appraiser has not presented
the government-wide financial statements, related disclosures or management's discussion and analysis, which
are required to present a complete presentation of its financial position and changes in financial position.
The General Fund is used to account for all revenues and expenditures applicable to the general operations of
the Property Appraiser that are not legally required or by accounting principles generally accepted in the United
States of America to be accounted for in another fund. The General Fund is presented as a major governmental
fund and uses the current financial resources measurement focus and the modified accrual basis of accounting.
Revenues are recognized when measurable and available. Revenues are considered to be available when they
are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this
purpose, the Property Appraiser considers revenues to be available if they are collected within 60 days of the
end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under
accrual accounting. However, expenditures related to compensated absences and claims and judgments are
recorded only when payment is due.
The extent to which General Fund revenues exceed expenditures is reflected as transfers out and as liabilities
to the Monroe County Board of County Commissioners (the "Board") and other governmental agencies in the
same proportion as fees paid by each governmental unit to total fees earned by the Property Appraiser.
Budgetary Requirements — General Fund expenditures are controlled by budget appropriations in accordance
with the requirements set forth in the Florida Statutes. The budget is prepared on a basis consistent with
accounting principles generally accepted in the United States of America.
Cash and Cash Equivalents—The Property Appraiser's cash and cash equivalents consist of cash on hand and
demand deposits.
Capital Assets — Tangible personal property used in the Property Appraiser's operations are recorded as
expenditures in the General Fund at the time assets are received and a liability is incurred. Purchased assets
are capitalized at historical cost in the government-wide financial statements of the County. In addition, the
Board provides office space used by the Property Appraiser at no charge.
5
MONROE COUNTY, FLORIDA
PROPERTY APPRAISER
NOTES TO SPECIAL-PURPOSE FINANCIAL STATEMENTS
SEPTEMBER 30, 2013
Note 1—Summary of significant accounting policies (continued)
Compensated Absences — The Property Appraiser permits employees to accumulate earned but unused
vacation and sick pay benefits. The Property Appraiser is not legally required to and does not accumulate
expendable available financial resources to liquidate this obligation. The obligation for compensated absences is
accrued in the government-wide financial statements of the County. A summary of activity for the Property
Appraiser's compensated absences obligation is as follows:
Balance, October 1, 2012 $146,928
Additions 216,450
Deletions 22( 6,837)
Balance, September 30, 2013 $136,541
Use of Estimates—The preparation of special-purpose financial statements requires management to make use
of estimates that affect reported amounts.Actual results could differ from estimates.
Note 2—Deposits and Investments
At September 30, 2013, cash and cash equivalents included demand deposits with a carrying amount of
$629,234 and a bank balance of$678,054.
The Property Appraiser places its cash and cash equivalents on deposit with financial institutions in the United
States. The Federal Deposit Insurance Corporation (FDIC) covers $250,000 for substantially all depository
accounts. The Property Appraiser from time to time may have amounts on deposit in excess of the insured limits
and the remaining balances are insured 100% by the State of Florida collateral pool, a multiple financial
institution pool with the ability to assess its members for collateral shortfalls if a member institution fails.
Florida Statutes and the Property Appraiser's investment policy authorize investments in certificates of deposit,
savings accounts, repurchase agreements, the Local Government Surplus Funds Trust Fund administered by
the Florida State Board of Administration, money market funds, direct obligations of the U.S. Treasury and
federal agencies and instrumentalities.
Note 3—Retirement system
Plan Description — The Property Appraiser's employees participate in the Florida Retirement System ("FRS"),
administered by the Florida Department of Management Services. Employees elect to participate in either the
defined benefit plan ("Pension Plan"), a cost sharing, multiple-employer, defined benefit retirement plan, or the
defined contribution plan ("Investment Plan") under the FRS. As a general rule, membership in the FRS is
compulsory for all employees working in a regularly established position for a state agency, county government,
district school board, state university, community college, or a participating city or special district within the State
of Florida. FRS provides retirement and disability benefits, annual cost-of-living adjustments, and death benefits
to Pension Plan members and beneficiaries. Benefits are established by Chapter 121, Florida Statutes, and
Chapter 60S, Florida Administrative Code. Amendments to the law can be made only by an act of the Florida
Legislature.
6
MONROE COUNTY, FLORIDA
PROPERTY APPRAISER
NOTES TO SPECIAL-PURPOSE FINANCIAL STATEMENTS
SEPTEMBER 30, 2013
Note 3—Retirement system (continued)
Benefits under the Pension Plan are computed on the basis of age, average final compensation, and service
credit. For Pension Plan members enrolled before July 1, 2011, Regular class members who retire at or after
age 62 with at least six years of credited service or 30 years of service regardless of age are.entitled to a
retirement benefit payable monthly for life, equal to 1.6% of their final average compensation based on the five
highest years of salary for each year of credited service. Vested members with less than 30 years of service
may retire before age 62 and receive reduced retirement benefits. Senior Management Service class members
who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age
are entitled to a retirement benefit payable monthly for life, equal to 2.0% of their final average compensation
based on the five highest years of salary for each year of credited service. Elected Officers' class members who
retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are
entitled to a retirement benefit payable monthly for life, equal to 3.0% of their final average compensation based
on the five highest years of salary for each year of credited service. Substantial changes were made to the
Pension Plan during fiscal year 2011 affecting members enrolled on or after July 1, 2011 by extending the
vesting requirement to eight years of credited service and increasing normal retirement to age 65 with at least
eight years of credited service or 33 years of service regardless of age. Also, the final average compensation of
these members will be based on the eight highest years of salary. A post-employment health insurance subsidy
is also provided to eligible retired members through the FRS in accordance with Florida Statutes.
In addition to the above benefits, the FRS administers the Deferred Retirement Option Program ("DROP"). This
program allows eligible employees to defer receipt of monthly retirement benefit payments while continuing
employment with a FRS employer for a period not to exceed 60 months after electing to participate. Deferred
monthly benefits are held in the FRS Trust Fund and accrue interest.
For employees electing 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.
The State of Florida annually issues a publicly available financial report that includes financial statements and
required supplementary information for the FRS. The latest available report may be obtained by writing to the
State of Florida Division of Retirement, Department of Management Services, PO Box 9000, Tallahassee, FL
32315-9000, or from the website www.dms.myflorida.com/retirement.
Funding Policy — Effective July 1, 2011, all enrolled members of the FRS other than DROP participants are
required to contribute 3% of their salary to the FRS. In addition to member contributions, governmental
employers are required to make contributions to the FRS based on state-wide contribution rates. The employer
contribution rates by job class for the periods from October 1, 2012 through June 30, 2013 and July 1, 2013
through September 30, 2013, respectively, were as follows: regular, 5.18% and 6.95%; county elected officers,
10.23% and 33.03%; senior management, 6.30% and 18.31%; and DROP participants, 5.44% and 12.84%.
During the fiscal year ended September 30, 2013, the Property Appraiser contributed to the FRS an amount
equal to 6.19% of covered payroll. Property Appraiser contributions to the FRS for the fiscal years ended
September 30, 2011 through 2013 were $201,932, $120,101, and $132,241, respectively, which were equal to
the required contributions for each fiscal year. The Property Appraiser 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.
7
MONROE COUNTY, FLORIDA
PROPERTY APPRAISER
NOTES TO SPECIAL-PURPOSE FINANCIAL STATEMENTS
SEPTEMBER 30, 2013
Note 4—Other postemployment benefit(OPEB) plan
The Monroe County Board of County Commissioners (BOCC) administers a single-employer defined benefit
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.
The BOCC may amend the plan design, with changes to the benefits, premiums and/or levels of participant
contribution at any time., In an open session, on at least an annual basis and prior to the annual enrollment
process, the BOCC approves the rates for the coming calendar year for the retiree and County contributions.
Eligibility for post employment participation in the Plan is limited to full time employees of the County, and the
Constitutional Officers. Employees who retire as an active participant in the Plan and were hired on or after
October 1, 2001 may continue to participate in the Plan by paying the monthly premium established annually by
the BOCC. Employees who retire as an active participant in the plan, were hired before October 1, 2001, have
at least ten years of full time service with the County, and meet the retirement criteria of the 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.
The BOCC engages an actuarial firm on a biannual basis to determine the County's actuarially determined
annual required contribution and unfunded obligation. The Property Appraiser has no responsibility to the Plan
other than to make the periodic payments determined by the BOCC. Further information about the Plan is
available in the County's Comprehensive Annual Financial Report which is published on the Clerk's website at
www.clerk-of-the-court.com.
Note 5—Risk management
The Property Appraiser is exposed to various risks of loss related to tort; theft of, damage to, and destruction of
assets; errors and omissions; injuries to employees; and natural disasters. The Property Appraiser participates
in the coverage provided by the Board for Workers' Compensation, Group Insurance, and Risk Management
internal service funds. Under these programs, Workers' Compensation provides $500,000 coverage per claim
for regular employees. Workers' Compensation claims in excess of the self-insured coverage are covered by an
excess insurance policy. Risk Management has a$5,000,000 excess insurance policy for general liability claims
with a $200,000 self insured retention, and building property damage is covered for the actual value of the
buildings with a deductible of $50,000. Deductibles for windstorm and flood vary by location. Monroe County
purchases commercial insurance for claims in excess of coverage provided by the funds and for all other risks of
loss. Settled claims have not exceeded this commercial coverage in any of the past three years. The Property
Appraiser makes payments to the Workers' Compensation, Group Insurance and Risk Management Funds
based on estimates of the amounts needed to pay prior and current year claims.
8
MONROE COUNTY, FLORIDA
PROPERTY APPRAISER
NOTES TO SPECIAL-PURPOSE FINANCIAL STATEMENTS
SEPTEMBER 30, 2013
Note 6—Commitments
Operating Leases—The Property Appraiser leases office equipment under various operating lease agreements.
Total lease expenditures amounted to$31,776 during the year ended September 30, 2013.
The following is a schedule by years of minimum future obligations under noncancelable operating leases as of
September 30, 2013:
Year Ending
September 30, Amount
2014 $ 36,159
2015 36,159
2016 26,879
2017 2,850
Total $ 102,047
Note 7—Litigation
The Property Appraiser is a party from time to time in various lawsuits and other claims incidental to the ordinary
course of its operation, some of which are covered by the Board's self-insurance program. While the results of
litigation cannot be predicted with certainty, management believes the final outcome of such litigation will not
have a material adverse effect on the Property Appraiser's financial position.
9
REQUIRED SUPPLEMENTARY INFORMATION
MONROE COUNTY, FLORIDA
PROPERTY APPRAISER
SCHEDULE OF REVENUES AND EXPENDITURES
BUDGET AND ACTUAL- GENERAL FUND
YEAR ENDED SEPTEMBER 30,2013
General Fund
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Intergovernmental
Board of County Commissioners $ 3,171,555 $ 3,171,422 $ 3,171,422 $ -
Other taxing districts 357,551 357,551 357,551 -
Investment income - - 1,850 1,850
Miscellaneous - - 44,742 44,742
Total revenues 3,529,106 3,528,973 3,575,565 46,592
Expenditures:
Current:
Personnel services 2,786,935 2,786,802 2,426,249 360,553
Operating expenditures 692,171 692,171 623,736 68,435
Capital outlay 50,000 50,000 20,568 29,432
Total expenditures 3,529,106 3,528,973 3,070,553 458,420
Excess of revenues over expenditures - - 505,012 (505,012)
Other financing sources(uses):
Transfers to Board of County Commissioners - (453,845) (453,845)
Transfers to other governmental units - (51,167) (51,167)
Total other financing sources(uses) - - (505,012) (505,012)
Excess of revenues over expenditures
and other financing uses - - -
Fund balance,beginning of year - - - -
Fund balance,end of year $ - $ - $ - $ -
10
SUPPLEMENTARY INDEPENDENT
AUDITOR'S REPORTS
`� Cherry BekaertLL7
CPAs&Advisors
Report of Independent Auditor on Internal Control Over
Financial Reporting and on Compliance and Other Matters
Based on an Audit of Special-Purpose Financial Statements Performed
in Accordance with Government Auditing Standards
To the Honorable Scott Russell,
Property Appraiser of Monroe County, Florida:
We have audited, in accordance with auditing standards generally accepted in the United States of America and
the standards applicable to financial audits contained in Government Auditing Standards issued by the
Comptroller General of the United States, the special-purpose financial statements of the major fund of the
Monroe County, Florida Property Appraiser (the "Property Appraiser") as of and for the year ended September
30, 2013, and the related notes to the financial statements, and have issued our report thereon dated March 3,
2014 for the purpose of compliance with Section 218.39(2), Florida Statutes, and Chapter 10.550, Rules of the
Auditor General-Local Governmental Entity Audits.
Internal Control over Financial Reporting
In planning and performing our audit, we considered the Property Appraiser's internal control over financial
reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the
purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion
on the effectiveness of the Property Appraiser's internal control. Accordingly, we do not express an opinion on
the effectiveness of the Property Appraiser's internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in
internal control, such that there is a reasonable possibility that a material misstatement of the entity's financial
statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a
deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet
important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section
and was not designed to identify all deficiencies in internal control that might be material weaknesses or,
significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal
control that we consider to be material weaknesses. However, material weaknesses may exist that have not
been identified.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Property Appraiser's financial statements are free
from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations,
contracts, and grant agreements, noncompliance with which could have a direct and material effect on the
determination of financial statement amounts. However, providing an opinion on compliance with those
provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of
our tests disclosed no instances of noncompliance or other matters that are required to be reported under
Government Auditing Standards.
11
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and
the results of that testing, and not to provide an opinion on the effectiveness of the entity's internal control or on
compliance. This report is an integral part of an audit performed in accordance with Government Auditing
Standards in considering the entity's internal control and compliance. Accordingly, this communication is not
suitable for any other purpose.
c� '� A \-L e
Orlando, Florida
March 3, 2014
12
Cherry Bekaert"P
CPAs&.advisors
Independent Auditor's Management Letter
To the Honorable Scott Russell,
Property Appraiser of Monroe County, Florida:
We have audited the special-purpose financial statements of the major fund of the Monroe County, Florida
Property Appraiser (the "Property Appraiser"), as of and for the year ended September 30, 2013, and have
issued our Report of Independent Auditor thereon dated March 3, 2014.
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 Report of Independent Auditor on Internal
Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of the Special-
Purpose Financial Statements Performed in Accordance with Government Auditing Standards. Disclosures in
that report, which is dated March 3, 2014, should be considered in conjunction with this management letter.
Additionally, our audit was conducted in accordance with Chapter 10.550, Rules of the Auditor General-Local
Governmental Entity Audits, which govern the conduct of local governmental entity audits performed in the State
of Florida. This letter includes the following information, which is not included in the aforementioned auditor's
report.
Section 10.554(1)(i)1., Rules of the Auditor General, requires that we determine whether or not corrective
actions have been taken to address findings and recommendations made in the preceding annual financial audit
report. No recommendations were made in the preceding annual financial audit report.
Section 10.554(1)(i)2., Rules of the Auditor General, requires our audit to include a review of the provisions of
Section 218.415, Florida Statutes, regarding the investment of public funds., In connection with our audit of the
special-purpose financial statements of the Property Appraiser, nothing came to our attention that would cause
us to believe that the Property Appraiser was in noncompliance with Section 218.415 regarding the investment
of public funds.
Section 10.554(1)(i)3., Rules of the Auditor General, requires that we address in the management letter any
recommendations to improve financial management. In connection with our audit, we did not have any such
recommendations.
Section 10.554(1)(i)4., Rules of the Auditor General, requires that we address noncompliance with provisions of
contracts or grant agreements or abuse, that have occurred, or are likely to have occurred, that have an effect
on the special-purpose financial statements that is less than material but which warrants the attention of those
charged with governance. In connection with our audit, we did not have any such findings.
Section 10.554(1)(i)5., Rules of the Auditor General, requires that the name or official title and legal authority for
the primary government and each component unit of the reporting entity be disclosed in the management letter,
unless disclosed in the notes to the special-purpose financial statements. The Property Appraiser is a separately
elected county official established pursuant to the Constitution of the State of Florida. There are no component
units related to the Property Appraiser.
13
The purpose of this management letter is to communicate certain matters prescribed by Chapter 10.550, Rules
of the Auditor General. Accordingly, this management letter is not suitable for any other purpose.
Orlando, Florida
March 3, 2014
14