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Fiscal Year 2006 MONROE COUNTY, FLORIDA TAX COLLECTOR Financial Statements For the Year Ended September 30, 2006 MONROE COUNTY, FLORIDA TAX COLLECTOR Financial Statements For the Year Ended September 30, 2006 MONROE COUNTY, FLORIDA TAX COLLECTOR Contents Page Independent Auditors' Report------------------- 2 - 3 BASIC FINANCIAL STATEMENTS Balance Sheet - General Fund__--__ Statement of Revenues, Expenditures and Changes in Fund Balance - General Fund____________ Statement of Fiduciary Assets and Liabilities -Agency Funds___ __- - - Notes to Financial Statements_____________________ 7- 12 ---------------- REQUIRED SUPPLEMENTARY INFORMATION Schedule of Revenues and Expenditures - Budget and Actual - General Fund 13 OTHER SUPPLEMENTARY INFORMATION Agency Fund Descriptions------------------------------------ --- 14 Combining Statement of Changes in Assets and Liabilities -All Agency Funds-------------------------•--.------------------------------------------.._.. 15 SUPPLEMENTARY INDEPENDENT AUDITORS" REPORTS Independent Auditors' Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards_______ _ ___________________ 16 - 17 Independent Auditors' Management Letter------------------------------------------------ 18 - 19 l 1 INDEPENDENT AUDIOTRS' REPORT To the Honorable Danise ©. Henriquez, Tax Collector of Monroe County, Florida: We have audited the accompanying financial statements of the major fund of the Monroe County, Florida Tax Collector (the "Tax Collector") as of and for the year ended September 30, 2006, which collectively comprise the Tax Collector's basic financial statements as listed in the table of contents. These financial statements are the responsibility of the Tax Collector'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 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-Local Government 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 financial position of the major fund of the Tax Collector as of September 30, 2006, and the changes in its financial position for the year then ended, in conformity with accounting principles generally accepted in the United States of America. 2 In accordance with Government Auditing Standards, we have also issued our report dated January 26, 2007 on our consideration of the Tax Collector'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. The budgetary comparison schedule on page 13 is not a required part of the basic financial statements but is supplementary information required by the Governmental Accounting Standards Board. We have applied certain limited procedures, which consisted primarily of inquiries of management regarding the methods of measurement and presentation of the required supplementary information. However, we did not audit the information and we express no opinion on it. This report is intended solely for the information and use of management and applicable state agencies, and is not intended to be and should not be used by anyone other than these specified parties. i Orlando, Florida January 26, 2007 3 BASIC FINANCIAL STATEMENTS MONROE COUNTY, FLORIDA TAX COLLECTOR Balance Sheet-General Fund September 30,2006 Assets Cash and cash equivalents $ 3,256,158 Due from other governments 10,925 Total assets $ 3,267,083 Liabilities and Fund Balance Liabilities Accounts payable $ 13,457 Accrued wages and benefits payable 110,027 Due to Board of County Commissioners 2,790,514 Due to other governmental units 353,085 Total liabilities 3,267,083 Fund Balance - Total liabilities and Fund Balance $ 3,267,083 The notes to the financial statements are an integral part of this statement. 4 MONROE COUNTY, FLORIDA TAX COLLECTOR Statement of Revenues, Expenditures and Changes in Fund Balance General Fund Year Ended September 30, 2006 Revenues Charges for services $ 6,510,616 Total revenues 6,510,616 Expenditures Current General government Personnel services 2,780,081 Operating expenditures 570,911 Capital outlay 10,039 Debt Service - Principal 5,986 Total expenditures 3,367,017 Excess of revenues over expenditures 3,143,599 Other financing sources (uses) Transfer to Board of County Commissioners (2,790,514) Transfer to other governmental units - (353,085) Total other financing uses (3,143,599) Excess of revenues over expenditures and other - financing uses Fund balance at beginning of year - Fund balance at end of year $ The notes to the financial statements are an integral part of this statement. 5 MONROE COUNTY, FLORIDA TAX COLLECTOR Statement of Fiduciary Assets and Liabilities Agency Funds September 30, 2006 Assets Cash and cash equivalents $ 4,254,056 Due from individuals 2,172 Total assets $ 4,256,227 Liabilities Undistributed collections $ 4,236,698 Due to individuals 20,529 Total liabilities $ 4,256,227 The notes to the financial statements are an integral part of this statement. 6 _ . MONROE COUNTY, FLORIDA TAX COLLECTOR Notes to Financial Statements Year Ended September 30, 2006 Note 1 - Summary of significant accounting policies Reporting Entity — The Monroe County, Florida Tax Collector (the "Tax Collector") is a separately elected county official established pursuant to the Constitution of the State of Florida. The Tax Collector's financial statements 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 and 39 of the Governmental Accounting Standards Board (GASB). Although the Tax Collector'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 Tax Collector is reported as a part of the primary government of the County. Description of Funds - The accounting records are organized for reporting purposes on the basis of a governmental fund and fiduciary funds. General Fund— The General Fund is used to account for all revenues and expenditures applicable to the general operations of the Tax Collector and not required legally or by accounting standards generally accepted in the United States of America to be reported elsewhere. Fiduciary Funds — Fiduciary funds of the Tax Collector are Agency Funds, which are used to account for assets held by the Tax Collector as an agent. Measurement focus, basis of accounting, and financial statement presentation— The Tax Collector's financial statements are prepared for the purpose of complying with Section 218.39(2), Florida Statutes, and Chapter 10.550, Rules of the Auditor General—Local Governmental Entity Audits, which require the Tax Collector to only present fund financial statements. The General Fund is used to account for all revenues and expenditures applicable to the general operations of the Tax Collector. This 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 Tax Collector 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. 7 MONROE COUNTY, FLORIDA TAX COLLECTOR Notes to Financial Statements Year Ended September 30, 2006 Note 1 - Summary of significant accounting policies (continued) 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 Tax Collector. Budgetary Requirements — Expenditures are controlled by budget appropriations in accordance with the budget 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 Tax Collector's cash and cash equivalents consist of demand deposits and highly liquid investments with maturities of 90 days or less when r purchased. All investments are reported at fair value. a Capital Assets — Tangible personal property used in the Tax Collector'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 administrative office space used by the Tax Collector at no charge. Compensated Absences — The Tax Collector permits employees to accumulate earned but unused vacation and sick pay benefits. Related long-term obligations, amounting to $123,218 at September 30, 2006, are included in the government-wide financial statements of the County. Use of Estimates - The preparation of financial statements requires management to make use of estimates that affect reported amounts. Actual results could differ from estimates. Note 2— Deposits and Investments As of September 30, 2006, the Tax Collector has the following deposits and investments: Demand deposits $ 415,328 Repurchase agreements 7,094,885 Total cash and cash equivalents $ 7,510,213 8 MONROE COUNTY, FLORIDA TAX COLLECTOR Notes to Financial Statements Year Ended September 30, 2006 Note 2 — Deposits and Investments (continued) Demand and time deposits are fully insured by the Federal Deposit Insurance Corporation or are covered by the State of Florida collateral pool, a multiple institution pool with the ability to assess its members for collateral if a member institution fails. Florida Statutes and the Tax Collector's investment policy authorize investments in certificates of deposit, savings accounts, repurchase agreements, 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 Tax Collector's employees participate 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 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. The FRS provides retirement and disability benefits, annual cost-of-living adjustments, and death benefits to Plan members and beneficiaries. Benefits are established by Chapter 121, Florida Statutes, and Chapter 60S, Florida Administrative Code. Amendments to the law can be made only by an act of the Florida Legislature. Benefits under the Pension Plan are computed on the basis of age, average final compensation, and service credit. Regular class employees who retire at or after age 62 with 6 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 for each year of credited service. Vested employees with less than 30 years of service may retire before age 62 and receive reduced retirement benefits. Special risk class empioyees (sworn law enforcement officers, firefighters, and correctional officers) who retire at or after age 55 with 6 years of credited service, or with 25 years of service regardless of age, are entitled to a retirement benefit payable monthly for life equal to 3.0% of their final average compensation for each year of credited service. Senior Management Service class employees who retire at or after age 62 with at least 6 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 for each year of credited service. Elected Officers' class employees who retire at or after age 62 with at least 6 years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 3.0% (3.33% for judges and justices) of their final average compensation for each year of credited service. A post- employment health insurance subsidy is also provided to eligible retired employees through the FRS in accordance with Florida Statutes. 9 MONROE COUNTY, FLORIDA TAX COLLECTOR Notes to Financial Statements Year Ended September 30, 2006 ` Note 3— Retirement system (continued) 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 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, 2639 North Monroe Street, Building C, Tallahassee, Florida 32299-1560 or accessing their internet site at www.frs.state.fl.us. Funding Policy — The FRS is noncontributory for members. Governmental employers are required to make contributions to the FRS based on statewide contribution rates. The contribution rates by job class at September 30, 2006 were as follows: regular, 9.85%; special risk, 20.92%; special risk administrative support, 12.55%; county elected officers, 16.53%; senior management, 13.12%; and DROP participants, 10.91%. These rates, which became effective on July 1, 2006, represented a significant increase for all job classes, as compared to the rates that were in effect for the first nine months of the 2006 fiscal year. During the fiscal year ended September 30, 2006, the Tax Collector contributed to the Plan an amount equal to 7.56% of covered payroll. Tax Collector contributions to the FRS for the fiscal years ended September 30, 2004 through 2006 were $153,873, $169,139 and $210,142 respectively, which were equal to the required contributions for each fiscal year. The Tax Collector 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. 10 MONROE COUNTY, FLORIDA TAX COLLECTOR Notes to Financial Statements Year Ended September 30, 2006 Note 4— Risk management The Tax Collector 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 Tax Collector participates in the coverage provided by the Board of County Commissioners for Worker's Compensation, Group Insurance, and Risk Management internal service funds. Under these programs, Worker's Compensation provides $1,000,000 coverage per claim for regular ` employees. 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 buildings with a deductible between $100,000 and $250,000. Deductibles for windstorm and flood vary by location. The County purchases commercial insurance for claims in excess of coverage provided by the funds and for all other risks of loss. Settled claims have not exceeded this commercial coverage in any of the past three years. The Tax Collector makes payments to the Workers Compensation and Group Insurance Funds based on estimates of the amounts needed to pay prior and current year claims. Note 5—Commitments Note Payable — The Tax Collector borrowed $29,929 for a vehicle purchase during fiscal 2004 under a non-interest bearing note payable, due in monthly installments of$499 through October 2008. The note payable balance of $13,466 at September 30, 2006 is included as a long-term obligation in the government wide financial statements of the County. Operating Leases —The Tax Collector leases office space under operating lease agreements. Total lease payments made in 2006 were $76,445. The following is a schedule by years of loan payments and future minimum rentals under non- cancelable operating leases as of September 30, 2006: Year Ending Lease Loan Se !ember 30, Payments Payments 2007 $ 65,331 $ 5,988 2008 58,218 5,988 2009 52,873 1,490 2010 112,816 - Total $ 289,238 $ 13,466 11 MONROE COUNTY, FLORIDA TAX COLLECTOR Notes to Financial Statements Year Ended September 30, 2006 Note 6 — Litigation The Tax Collector 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 Tax Collector's financial position. 12 REQUIRED SUPPLEMENTARY INFORMATION I MONROE COUNTY,FLORIDA TAX COLLECTOR Schedule of Revenues and Expenditures- Budget and Actual-General Fund Year Ended September 30,2006 General Fund Variance Original Final Positive Budget Budget Acbmi (Na�ativel . Revenues Charges for services $ 5,171,640 $ _ 5,171,640 $ 6,510,616 $ 1,338,976 Total revenues 5,171,640 5,171,640 6,510,616 1,338,976 Expenditures Current General government Personnel services 2,873,989 2,882,221 2,780,081 102,140 Operating expenditures 754,377 744,388 570,911 173,477 Capital outlay 5,986 16,025 10,039 5,986 Debt service-Principal 5,986 (5,986) Total expenditures 3,634,352 3542,634 3,367,017 275,617 Other financing sources(uses) Transfer to Board of County Commissioners (1,537,288) (1,529,006) (2,790,514) (1,261,508) Transfer to other governmental units (353,085) (353,001 Total other financing sources(uses) (1,537.288) _ (1,529,006) 3,143,599) (1,614,593) Excess of revenues over expenditures $ $ $ - $ - r 13 OTHER SUPPLEMENTARY INFORMATION MONROE COUNTY, FLORIDA TAX COLLECTOR Agency Fund Descriptions The Combining Statement of Changes in Assets and Liabilities--All Agency Funds is presented on the following page. The purpose of each fund shown on this statement is described below. Property Tax Agency Fund — To account for the collection and distribution of local property tax funds. Licenses Agency Fund — To account for the collection and distribution of funds generated from the sale of miscellaneous state licenses. 14 MONROE COUNTY, FLORIDA TAX COLLECTOR Combining Statement of Changes in Assets and Liabilities All Agency Funds Year Ended September 30,2006 Balance Balance September 30, September 30, 2005 Additions Deletions 2006 Property Tax Agency Assets Cash and cash equivalents $ 3,793,079 $ 237,719,232 $ 237,435,849 $ 4,076,462 Due from individuals 25 115 - 140 $ 3,793,104 $ 237,719,347 $ 237,435,849 $ 4,076,602 Liabilities Undistributed collections $ 3,783,822 $ 228,855,650 $ 228,581,303 $ 4,058,169 Due to individuals 9,282 8,863,697 8,854,546 18,433 $ 3,793,104 $ 237,719,347 $ 237,435,849 $ 4,076,602 Licenses Agency Fund Assets Cash and cash equivalents $ 194,257 $ 12,114,707 $ 12,131,371 $ 177,593 Due from individuals 2,787 - 755 2,032 $ 197,044 $ 12,114,707 $ 12,132,126 $ 179,625 Liabilities Undistributed collections $ 195,945 $ 12,082,537 $ 12,100,953 $ 177,529 Due to individuals 1,099 32,170 31,173 2,096 $ 197,044 $ 12,114,707 $ 12,132,126 $ 179,625 Total-All Agency Funds _ Assets Cash and cash equivalents $ 3,987,336 $ 249,833,939 $ 249,567,220 $ 4,254,055 Due from individuals 2,812 115 755 2,172 $ 3,990,148 $ 249,834,054 $ 249,567,975 $ 4,256,227 Liabilities Undistributed collections $ 3,979,767 $ 240,938,187 $ 240,682,256 $ 4,235,698 Due to individuals 10,381 8,895,867 8,885,719 20,529 $ 3,990,148 $ 249,834,054 $ 249,567,975 $ 4,256,227 15 SUPPLEMENTARY INDEPENDENT AUDITORS' REPORTS • C!LRF1F1F[)PUBLIC 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 Honorable Danise D. Henriquez, - Tax Collector of Monroe County, Florida: We have audited the financial statements of the major fund of the Monroe County, Florida Tax Collector (the "Tax Collector") as of and for the year ended September 30, 2006, which collectively comprise the Tax Collector's basic financial statements, and have issued our report thereon dated January 26, 2007 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. 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 Tax Collector's internal control over financial reporting in order to determine our auditing procedures for the purpose of expressing our opinions on the financial statements and not to provide assurance on the internal control over financial reporting. Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the internal control over financial reporting that might be material weaknesses. A material weakness is a reportable condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements caused by error or fraud in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control over financial reporting and its operations that we consider to be material weaknesses. Compliance and Other Matters As part of obtaining reasonable assurance about whether the Tax Collector's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, and 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 16 tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. This report is intended solely for the information and use of management and applicable state - agencies, and is not intended to be and should not be used by anyone other than these specified parties. Orlando, Florida January 26, 2007 17 I Fm CERTIFIED Pt'BLIC L CONSULTANTS INDEPENDENT AUDITORS' MANAGEMENT LETTER To the Honorable Danise D. Henriquez, Tax Collector of Monroe County, Florida: We have audited the financial statements of the major fund of the Monroe County, Florida Tax Collector (the "Tax Collector"), as of and for the year ended September 30, 2006, which collectively comprise the Tax Collector's basic financial statements, and have issued our report thereon dated January 26, 2007 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. 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 Government Auditing Standards, dated January 26, 2007, and it should be considered in conjunction with this management letter. Additionally, our audit was conducted in accordance with Chapter 10.560, Rules of the Auditor General. Those rules (Section 10.554(1)(h)l) require that we address in the management letter, if not already addressed in the auditor's report on internal control over financial reporting, compliance and other matters, whether or not corrective actions have been taken to address significant findings and recommendations made in the preceding annual financial audit report. No recommendations were made in the preceding annual financial audit report. The Rules of the Auditor General (Section 10.554(1)(h)2) state that a management letter shall have a statement as to whether or not the Tax Collector complied with Section 218.415, Florida Statutes, regarding the investment of public funds. In connection with our audit of the financial statements of the Tax Collector, the results of our tests did not indicate that the Tax Collector was in noncompliance with Section 218.415 regarding the investment of public funds. The Rules of the Auditor General (Section 10.554(1)(h)3) require disclosure in the management letter of any recommendations to improve the Tax Collector's financial management, accounting procedures, and internal controls. There were no recommendations in connection with the fiscal 2006 financial statement audit. The Rules of the Auditor General (Section 10.554(1)(h)4) require disclosure in the management letter of the following matters if not already addressed in the auditors' report on compliance and internal controls: (1) violations of laws, rules, regulations, and contractual provisions that have occurred, or are likely to have occurred; (2) improper or illegal expenditures, (3) improper or inadequate accounting procedures (e.g., the omission of required disclosures from the financial statements); (4) failures to properly record financial transactions; and (5) other inaccuracies, 18 shortages, defalcations, and instances of fraud discovered by, or that come to the attention of, the auditor. There were no such matters noted. The Rules of the Auditor General (Section 10.554(1)(h)5) also 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 the management letter, unless disclosed in the notes to the financial statements. The Tax Collector is a separately elected county official established pursuant to the Constitution of the State of Florida. There are no component units related to the Tax Collector. This management letter is intended solely for the information and use of management, the State of Florida Office of the Auditor General, and applicable state agencies, and is not intended to be and should not be used by anyone other than these specified parties. � . L . P Orlando, Florida January 26, 2007 19 MONROE COUNTY TAX COLLECTOR 1200 Truman Ave., Key West, FL 33040 Rhone: (305)295-5000 Fax: (305)295-5020 March 21,2007 Hon.Robert Milligan Comptroller Department of Banking&Finance Bureau of Local Government Finance Room 1001 Capitol Building Tallahassee, FL, 32399-0350 Dear Sir. This office is in receipt of the audit report for the fiscal year ending September 30,2006. The report indicates no recommendations to improve the Tax Collectors Management, account procedures or internal controls. Res v Danise D. Henriquez, CFC Tax Collector Monroe County Cc: County Finance Office