Fiscal Year 2013 MONROE COUNTY, FLORIDA
TAX COLLECTOR
SPECIAL-PURPOSE FINANCIAL
STATEMENTS
As of and for the Year Ended September 30, 2013
And Reports of Independent Auditor
L
MONROE COUNTY, FLORIDA
TAX COLLECTOR
TABLE OF CONTENTS
L
REPORT OF INDEPENDENT AUDITOR. ... 2-3
SPECIAL-PURPOSE FINANCIAL STATEMENTS
Special-Purpose Balance Sheet-General Fund ................................ 4
Special-Purpose Statement of Revenues, Expenditures and Changes in
Fund Balance-General Fund 5
Special-Purpose Statement of Fiduciary Assets and Liabilities-
AgencyFunds.--• ---------------•------ --------------------------------------------------------------------•-------------------------------•••---.6
Notes to Special-Purpose Financial Statements ___________________________________7-11
REQUIRED SUPPLEMENTARY INFORMATION
Schedule of Revenues and Expenditures-Budget and Actual-
General Fund 12
iirt OTHER SUPPLEMENTARY INFORMATION
Agency Fund Descriptions____ _ 13
Special-Purpose Combining Statement of Changes in Assets and
Liabilities-All Agency Funds .....................................----....... ------ ---•---------- ---------- ............................14
L
SUPPLEMENTARY REPORTS OF INDEPENDENT AUDITOR
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............... 15-16
Independent Auditor's Management Letter 17-18
Cherr Y Bekaert"`
so
CFAs&Adv6oi s
L
L
Report of Independent Auditor
To the Honorable Danise D. Henriquez,
Tax Collector of Monroe County, Florida
Report on the Financial Statements
We have audited the accompanying special-purpose financial statements of the major fund and the aggregate
remaining fund information of the Monroe County, Florida Tax Collector (the "Tax Collector") 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 opinions 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 auditor's 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
�i 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
opinions.
Opinions
In our opinion, the special-purpose 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 Tax
Collector 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.
2
L
L
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 Tax Collector. Additionally, the special-purpose financial statements present
only the Tax Collector and are not intended to present fairly 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 12 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.
Supplementary and Other Information
Our audit was conducted for the purpose of forming opinions on the special-purpose financial statements of the
Tax Collector taken as a whole. The accompanying other supplementary information, as listed in the table of
contents, is presented for purposes of additional analysis and is not a required part of the special-purpose
financial statements.
The accompanying other supplementary information is the responsibility of management and was derived from
and relates directly to the underlying accounting and other records used to prepare the special-purpose financial
statements. Such information has been subjected to the auditing procedures applied in the audit of the special-
purpose financial statements and certain additional procedures, including comparing and reconciling such
information directly to the underlying accounting and other records used to prepare the special-purpose financial
statements or to the special-purpose financial statements themselves, and other additional procedures in
accordance with accounting standards generally accepted in the United States of America. In our opinion, the
other supplementary information is fairly stated, in all material respects, in relation to the special-purpose
financial statements as a whole.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated March 4, 2014 on our
consideration of the Tax Collector's internal control over financial reporting and on our tests of its compliance
with certain provisions of laws, regulations, contracts, 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 Tax Collector's internal control over financial reporting and compliance.
This report is intended solely for the information and use of the Tax Collector'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 4, 2014
3
L
L
L
L
L
L
L
L SPECIAL-PURPOSE
L FINANCIAL STATEMENTS
L
L
MONROE COUNTY, FLORIDA
TAX COLLECTOR
SPECIAL-PURPOSE BALANCE SHEET
GENERAL FUND
SEPTEMBER 30, 2013
L
ASSETS
Cash and cash equivalents $ 3,027,719
Due from Board of County Commissioners 3,670
LDue from other governments 5,128
��rr Total Assets $ 3,036,517
LIABILITIES AND FUND BALANCE
Liabilities
Accounts payable $ 11,800
Accrued wages and benefits payable 60,940
Due to Board of County Commissioners 2,707,502
Due to other governmental units 256,275
Total Liabilities 3,036,517
Fund Balance -
Total Liabilities and Fund Balance $ 3,036,517
The accompanying notes to the financial statements are an integral part of this statement. 4
L
MONROE COUNTY, FLORIDA
TAX COLLECTOR
SPECIAL-PURPOSE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCE
GENERAL FUND
YEAR ENDED SEPTEMBER 30, 2013
Revenues
Charges for services $ 2,230,950
Intergovernmental- Board of County Commissioners 4,170,676
Total revenue 6,401,626
Expenditures
General government
Personnel services 2,732,322
Operating expenditures 705,527
Total expenditures 3,437,849
Le
Excess of revenues over expenditures 2,963,777
Other financing sources(uses)
Transfers to Board of County Commissioners (2,707,502)
Transfers to other governmental units (256,275)
Total other financing sources(uses) (2,963,777)
Excess of revenues over expenditures and other -
financing uses
Fund balance at beginning of year -
Fund balance at end of year $
L
L
L
L
L
The accompanying notes to the financial statements are an integral part of this statement. 5
L
+rr
MONROE COUNTY, FLORIDA
TAX COLLECTOR
SPECIAL-PURPOSE STATEMENT OF FIDUCIARY ASSETS AND LIABILITIES
AGENCY FUNDS
SEPTEMBER 30, 2013
ASSETS
Cash and cash equivalents $ 6,063,517
Due from individuals 6,284
Total assets $ 6,069,801
LIABILITIES
Undistributed collections $ 6,053,283
Due to individuals 16,518
Total liabilities $ 6,069,801
The accompanying notes to the financial statements are an integral part of this statement. 6
MONROE COUNTY, FLORIDA
TAX COLLECTOR
NOTES TO SPECIAL-PURPOSE FINANCIAL STATEMENTS
SEPTEMBER 30, 2013
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 Statement No. 14, as amended. 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 that are not required legally or by accounting principles
generally accepted in the United States of America to be accounted for in another fund.
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 Collectors 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 for Local Governmental Entity Audits (the "Rules"),
which requires the Tax Collector to only present fund financial statements. In conformity with the Rules, the Tax
Collector 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 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.
The extent to which General Fund revenues exceed General Fund 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.
The Tax Collector reports the General Fund as a major governmental fund and agency funds as a fiduciary fund
type. Agency funds are custodial in nature and do not involve measurement of results of operations.
Budgetary Requirements — General Fund 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.
7
L
MONROE COUNTY, FLORIDA
TAX COLLECTOR
NOTES TO SPECIAL-PURPOSE FINANCIAL STATEMENTS
SEPTEMBER 30, 2013
Note 1—Summary of significant accounting policies (continued)
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 purchased. All investments are reported at fair
value.
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. A summary of activity for the Tax Collector's compensated absences obligation is as
S follows:
h1r Balance, October 1, 2012 $ 132,325
Additions 206,545
Deletions (202,799)
Balance, September 30, 2013 $ 136,071
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.
rb
Note 2—Deposits and investments
As of September 30, 2013, the Tax Collector has demand deposits with a carrying amount of $9,081,411, a
bank balance of$9,380,318, and petty cash funds of$9,825.
The Tax Collector places its cash and cash equivalents on deposit with financial institutions in the United States.
bb The Federal Deposit Insurance Corporation (FDIC) covers $250,000 for substantially all depository accounts.
The Tax Collector 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 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.
L
L
L
L
8
L
PP-
as
F, MONROE COUNTY, FLORIDA
TAX COLLECTOR
NOTES TO SPECIAL-PURPOSE FINANCIAL STATEMENTS
Yrr
SEPTEMBER 30, 2013
Note 3—Retirement system
Plan description — Substantially all full-time Tax Collector 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 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. 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
3 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.
I
L
9
MONROE COUNTY, FLORIDA
TAX COLLECTOR
NOTES TO SPECIAL-PURPOSE FINANCIAL STATEMENTS
SEPTEMBER 30, 2013
Note 3—Retirement system (continued)
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 Tax Collector contributed to the FRS an amount equal to
6.45%of covered payroll. The Tax Collector's contributions to the FRS for the fiscal years ended September 30,
2013, 2012, and 2011 were$154,581, $127,978 and $221,225, respectively, equal to the required contributions
for each 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.
Note 4—Other postemployment benefits (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 Tax Collector 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.
10
L
MONROE COUNTY, FLORIDA
TAX COLLECTOR
NOTES TO SPECIAL-PURPOSE FINANCIAL STATEMENTS
SEPTEMBER 30, 2013
Note 5—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 for Workers' Compensation, Group Insurance, and Risk Management internal
service funds. Under these programs, the Workers' Compensation provides $500,000 coverage per claim for
regular employees. Workers' Compensation claims in excess of the self-insured coverage of $500,000 are
covered by an excess insurance policy. 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 cost 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 Tax Collector participates in the Workers' Compensation, Group Insurance and Risk Management
Funds based on estimates of the amounts needed to pay prior and current year claims.
Note 6—Commitments
Operating Leases— The Tax Collector leases office space and equipment under operating lease agreements.
Total lease payments made in 2013 were$90,865.
The following is a schedule by years of future minimum rentals under noncancelable operating leases as of
September 30, 2013:
Year Ending Lease
September 30 Payments
2014 $ 89,371
2015 88,125
2016 40,909
2017 6,727
2018 1,012
Total $ 226,144
Note 7—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.
11
L
L
L
L
L
L
L
REQUIRED SUPPLEMENTARY INFORMATION
L
MONROE COUNTY, FLORIDA
TAX COLLECTOR
SCHEDULE OF REVENUES AND EXPENDITURES
16 BUDGET AND ACTUAL-GENERAL FUND
YEAR ENDED SEPTEMBER 30,2013
General Fund
Variance
Original Final Positive
Budget Budget Actual (Negative)
Revenues
Charges for services $ 2,079,612 $ 2,079,612 $ 2,230,950 $ 151,338
Intergovernmental-Board of County Commissioners 3,668,088 3,668,088 4,170,676 502,588
Total revenue 5,747,700 5,747,700 6,401,626 653,926
Expenditures
General government
Personnel services 2,838,038 2,833,538 2,732,322 101,216
Operating expenditures 685,827 725,245 705,527 19,718
Total expenditures 3,523,865 3,558,783 3,437,849 120,934
Excess of revenues over expenditures 2,223,835 2,188,917 2,963,777 774,860
bw
Other financing sources(uses)
Transfer to Board of County Commissioners (2,223,835) (2,188,917) (2,707,502) (518,585)
Transfer to other governmental units - (256,275) (256,275)
Total other financing sources(uses) (2,223,835) (2,188,917) (2,963,777) (774,860)
Excess of revenues over expenditures and other
financing sources(uses) $ - $ - $
L
L
L
L
be
L
12
L
L
L
L
L
OTHER SUPPLEMENTARY INFORMATION
IL
L
L
L
L
L
L
L
L,
L
IL
L
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.
ho
L
16
L
L
L
ion
L
L
13
L
L
MONROE COUNTY, FLORIDA
TAX COLLECTOR
SPECIAL-PURPOSE COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
ALL AGENCY FUNDS
YEAR ENDED SEPTEMBER 30,2013
Balance Balance
September 30, September 30,
2012 Additions Deletions 2013
Property Tax Agency Fund
Assets
Cash and cash equivalents $ 5,309,090 $ 263,268,123 $ 262,781,995 $ 5,795,218
Due from individuals - 5,695 5,695
$ 5,309,090 $ 263,273,818 $ 262,781,995 $ 5,800,913
Liabilities
Undistributed collections $ 5,297,393 $ 251,095,064 $ 250,606,265 $ 5,786,192
Due to individuals 11,697 12,178,754 12,175,730 14,721
$ 5,309,090 $ 263,273,818 $ 262,781,995 $ 5,800,913
Licenses Agency Fund
Assets
Cash and cash equivalents $ 187,148 $ 14,378,468 $ 14,297,317 $ 268,299
Due from individuals 2,381 - 1,792 589
$ 189,529 $ 14,378,468 $ 14,299,109 $ 268,888
Liabilities
Undistributed collections $ 188,306 $ 14,347,166 $ 14,268,381 $ 267,091
Due to individuals 1,223 31,302 30,728 1,797
$ 189,529 $ 14,378,468 $ 14,299,109 $ 268,888
Total-All Agency Funds
Assets
Cash and cash equivalents $ 5,496,238 $ 277,646,591 $ 277,079,312 $ 6,063,517
Due from individuals 2,381 5,695 1,792 6,284
$ 5,498,619 $ 277,652,286 $ 277,081,104 $ 6,069,801
Liabilities
Undistributed collections $ 5,485,699 $ 265,442,230 $ 264,874,646 $ 6,053,283
Due to individuals 12,920 12,210,056 12,206,458 16,518
$ 5,498,619 $ 277,652,286 $ 277,081,104 $ 6,069,801
14
L
L
SUPPLEMENTARY INDEPENDENT
AUDITOR'S REPORTS
ow
`% Cherry Bekaert"°
No v
?As&Aclvrscs
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 Danise D. Henriquez,
Tax Collector 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 and the
aggregate remaining fund information of the Monroe County, Florida Tax Collector (the "Tax Collector') 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 4, 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 Tax Collector's internal control over financial reporting
(internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of
expressing our opinions on the special-purpose financial statements, but not for the purpose of expressing an
opinion on the effectiveness of the Tax Collector'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 Tax Collector's
special-purpose 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 over financial reporting 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 Tax Collector's special-purpose 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 special-purpose 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.
L
L
15
L
Ift
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 Tax Collector's internal
16 control or on compliance. This report is an integral part of an audit performed in accordance with Government
Auditing Standards in considering the Tax Collector's internal control and compliance. Accordingly, this
communication is not suitable for any other purpose.
Orlando, Florida
March 4, 2014
L
L
L
L
L
L
L
16
L
``w� Cherry Bekaert"P
Cr-A_&Advj,Sors
L
L
Independent Auditor's Management Letter
L
To the Honorable Danise D. Henriquez,
Tax Collector of Monroe County, Florida:
We have audited the special-purpose financial statements of the major fund and the aggregate remaining fund
information of the Monroe County, Florida Tax Collector (the "Tax Collector'), as of and for the year ended
September 30, 2013, and have issued our Report of Independent Auditor thereon dated March 4, 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 Special-Purpose
Financial Statements Performed in Accordance with Government Auditing Standards. Disclosures in this report,
dated March 4, 2014, 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-
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
auditors report.
Section 10.554(1)(i)l., 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
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 Tax Collector, nothing came to our attention that could cause us to
believe that the Tax Collector 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 this management letter,
unless disclosed in the notes to the special-purpose 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.
17
L
L
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 4, 2014
(�Ir
18