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Fiscal Year 2018 VON, !/J/irr / �� f�� I VVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVV �� '00 AN z /rr r rr r/ / �� % jJ✓�UDr r, rc�r f i. ,gip 5�/t�✓r r � 6 n,,,OY ,• � Monroe County, Florida Comprehensive Annual Financial Report For the Fiscal Year Ended September 30, 2018 This page is intentionally left blank. MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 KEVIN MADOK, CPA CLERK OF THE CIRCUIT COURT & COMPTROLLER PREPARED BY: CLERK OF THE CIRCUIT COURT FINANCE DEPARTMENT PAM RADLOFF, CPA FINANCE DIRECTOR This page is intentionally left blank. MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 PAGE INTRODUCTORY SECTION Transmittal Letter of the Clerk of the Circuit Court and Comptroller A-1 Certificate of Achievement for Excellence in Financial Reporting A-8 List of Elected and Appointed Officials A-9 Organizational Chart A-10 FINANCIAL SECTION Report of Independent Auditor B-1 Management's Discussion and Analysis C-1 Basic Financial Statements: Government-Wide Financial Statements Statement of Net Position D-1 Statement of Activities D-3 Fund Financial Statements Balance Sheet- Governmental Funds E-1 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position E-3 Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds E-4 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities E-6 Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Major Governmental Funds: General Fund E-7 Fine and Forfeiture Special Revenue Fund E-11 HIDTA Grants Special Revenue Fund E-13 Governmental Grants Special Revenue Fund E-14 Sheriffs Grants Special Revenue Fund E-17 Statement of Net Position - Proprietary Funds E-18 Statement of Revenues, Expenses, and Changes in Net Position - Proprietary Funds E-22 Statement of Cash Flows - Proprietary Funds E-24 Statement of Fiduciary Net Position - Fiduciary Funds E-28 Notes to Financial Statements F-1 Required Supplementary Information G-1 Combining and Individual Fund Statements and Schedules: Combining Balance Sheet- Nonmajor Governmental Funds H-1 Combining Statement of Revenues, Expenditures, and Changes in Fund H-13 Balances - Nonmajor Governmental Funds Schedules of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Special Revenue Funds and Capital Projects Funds: Affordable Housing Programs H-25 Road and Bridge H-26 Tourist Development, All Districts, Two Cent H-27 Tourist Development, Administration and Promotional, Two Cent H-28 MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 PAGE Tourist Development, District One H-29 Tourist Development, District Two H-30 Tourist Development, District Three H-31 Tourist Development, District Four H-32 Tourist Development, District Five H-33 Impact Fees - Roadways H-34 Impact Fees - Parks and Recreation H-35 Impact Fees - Libraries H-36 Impact Fees - Solid Waste H-37 Impact Fees - Police Facilities H-38 Impact Fees - Fire and EMS H-39 Impact Fees - Employee Fair Share Housing H-40 Fire and Ambulance, District One - Lower and Middle Keys H-41 Unincorporated Area Service District - Parks and Recreation H-42 Unincorporated Area Service District - Planning, Building, and Zoning H-43 Municipal Policing H-45 Duck Key Security District H-46 Local Housing Assistance H-47 Boating Improvement H-48 Miscellaneous H-49 Environmental Restoration H-51 Court Facility Fees H-52 Drug Abuse Trust H-53 Marathon Municipal Service Taxing Unit H-54 Bay Point Municipal Service Taxing Unit H-55 Big Coppitt Municipal Service Taxing Unit H-56 Key Largo Municipal Service Taxing Unit H-57 Stock Island Wastewater Municipal Service Taxing Unit H-58 Conch Key Municipal Service Taxing Unit H-59 Long Key-Layton Municipal Service Taxing Unit H-60 Duck Key Municipal Service Taxing Unit H-61 Building Fund H-62 Clerk's Revenue Note Capital Projects Fund H-63 Infrastructure Revenue Bonds Series 2007 Capital Projects Fund H-64 Big Coppitt Wastewater Project Capital Projects Fund H-65 Duck Key Wastewater Project Capital Projects Fund H-66 Long Key Wastewater Project Capital Projects Fund H-67 Land Acquisition Fund Capital Projects Fund H-68 Sheriffs Teen Court H-69 Sheriffs Federal Forfeiture H-70 Sheriffs State Forfeiture H-71 Sheriffs Contract Administrative H-72 Sheriffs Commissary H-73 Sheriffs Interagency Communications H-74 Sheriffs Trauma Star H-75 Sheriffs Radio Communications H-76 MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 PAGE Sheriffs Shared Asset Forfeiture H-77 Sheriffs E911 H-78 Clerk's Records Modernization H-79 Clerk's Court Related H-80 Schedules of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Major Governmental Funds: One Cent Infrastructure Surtax Capital Project Fund H-81 Infrastructure Revenue Bonds Series 2014 Capital Projects Fund H-82 Cudjoe Regional Wastewater Capital Project Fund H-83 All Debt Service Funds H-84 Combining Statement of Net Position - Internal Service Funds H-86 Combining Statement of Revenues, Expenses, and Changes in Net Position - Internal Service Funds H-88 Combining Statement of Cash Flows - Internal Service Funds H-90 Combining Statement of Fiduciary Net Position -All Agency Funds H-94 Combining Statement of Changes in Fiduciary Net Position -All Agency Funds H-95 STATISTICAL SECTION Introduction 1-1 Net Position by Component 1-2 Changes in Net Position 1-3 Governmental Activities Tax Revenues By Source 1-6 Fund Balances of Governmental Funds 1-7 Changes in Fund Balances of Governmental Funds 1-8 General Governmental Tax Revenues By Source 1-10 Assessed Value and Estimated Actual Value of Taxable Property 1-11 Direct and Overlapping Governments 1-12 Principal Property Taxpayers 1-13 Property Tax Levies and Collections 1-14 Ratios of Outstanding Debt by Type 1-15 Ratios of General Bonded Debt Outstanding 1-16 Direct and Overlapping Governmental Activities Debt 1-17 Legal Debt Margin Information 1-18 Pledged-Revenue Coverage - Governmental Activities 1-19 Pledged Revenue Bonds and Notes - Business-Type Activities 1-20 Demographic and Economic Statistics 1-21 Principal Employers 1-22 Full-time Equivalent County Government Employees by Function 1-23 Operating Indicators by Function 1-24 Capital Asset Statistics by Function 1-25 MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 PAGE SINGLE AUDIT/GRANTS COMPLIANCE SCHEDULES Report of Independent Auditor on Internal Control over Financial Reporting and on J-1 Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards Report of Independent Auditor on Compliance for Each Major Federal Awards J-3 Program and State Financial Assistance Project and on Internal Control Over Compliance Required by the Uniform Guidance and Chapter 10.550, Rules of the Auditor General Schedule of Expenditures of Federal Awards and State Financial Assistance J-5 Notes to Schedule of Expenditures of Federal Awards and State Financial J-11 Assistance Schedule of Findings and Questioned Costs - Federal Awards Programs and State J-13 Financial Assistance Projects Summary Schedule of Prior Year Audit Findings - Federal Awards Programs and State J-16 Financial Assistance Projects Independent Auditor's Management Letter K-1 Report of Independent Accountant on Compliance with Local Government Investment Policies and E911 Requirements of Sections 365.172 and 365.173, Florida Statutes K-3 OTHER INFORMATION Schedule of Receipts and Expenditures of Funds Related to the Deepwater Horizon Oil Spill L-1 � �, mm, ray Kevin MAO, CPA f dryr 57 . . Clerk of,the Circuit Court& Comptroller—Monroe Counter, Florida March 18, 2019 The Honorable Sylvia Murphy Mayor, Board of County Commissioners Citizens of Monroe County, Florida We are pleased to submit the Comprehensive Annual Financial Report (CAFR) for Monroe County, Florida for the fiscal year(FY) ended September 30, 2018. Monroe County's CAFR is prepared by the Finance Department under the direction of the Clerk of the Circuit Court & Comptroller (Clerk). Responsibility for both the accuracy of the presented data and the completeness and fairness of the presentation, including all disclosures, rests with the Clerk as Chief Financial Officer of Monroe County, Florida (the County). We assert that, to the best of our knowledge and belief, this financial report is complete and reliable in all material aspects. It is presented in a format designed to fairly present the financial position and results of operations of the County as measured by the financial activity. All disclosures needed to allow the reader to gain a comprehensive understanding of the County's financial activity have been included. The County has established a comprehensive internal control framework that is designed both to protect the County's assets from loss, theft, or misuse and to compile sufficient reliable accounting information for financial statement preparation in conformity with United States generally accepted accounting principles (GAAP) established by the Government Accounting Standards Board. Because the cost of internal controls should not outweigh their benefits, the objective is to provide reasonable rather than absolute assurance that the financial statements will be free of material misstatement. In addition, the Federal Single Audit Act, the Florida Single Audit Act and Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, require an independent auditor to report on the government's internal controls and compliance with legal requirements concerning the administration of federal awards and state financial assistance. The report, Single Audit/Grants Compliance Schedules, is published in this CAFR to fulfill these requirements. Independent Audit In compliance with Florida Statute Chapter 218.39, an independent certified public accountant is to audit the financial statements of counties in the State. The County's auditor, Cherry Bekaert LLP, has issued unmodified ("clean") opinions on the Monroe County, Florida financial statements for the year ended September 30, 2018. The report of the independent auditor is located at the front of the Financial Section in this CAFR. KEY WEST MARATHON PLANTAT[UN KEY PK/ROTH RUIILDlN 500 Whitehead Street 3117 0verseas Highway 88820 0verseas Highway 50 High Point Road Key West„Florida 33040 Marathon,Florida 33050 Piantatioci Key,Florida 33070 Plantation Key„Florida 33070 305-20 -464'1 305-289-6027 305-852-7145 305-852-7145 Management Discussion and Analysis GAAP requires that management provide a narrative introduction, overview, and analysis to accompany the basic financial statements in the form of Management's Discussion and Analysis (MD&A). The MD&A can be found immediately following the report of the independent auditor in this CAFR and fulfills this requirement. This Letter of Transmittal is designed to complement the MD&A and should be read in conjunction with it. Monroe County Profile Basic Information Monroe County was constitutionally formed in 1823. It is comprised of a string of subtropical islands that stretch more than one hundred miles into the Atlantic Ocean. These islands are connected in a chain-like fashion to the mainland by a series of forty-two bridges. The longest bridge, known as the "7 Mile Bridge", connects Knight's Key in the Middle Keys to Little Duck Key in the Lower Keys. It was among the longest bridges in existence when it was initially built from 1909 to 1912. A new bridge was finished in 1982 but the old bridge still remains in place and services, via pedestrians and cyclists, Pigeon Key, the historic island at the center of the bridge. Monroe County is the southernmost county in the United States with only one road, U.S. 1, connecting some of the islands known as the Florida Keys. The Zero Mile Marker for U.S. 1 is outside of the County courthouse in Key West. The majority of U.S. 1 was built on the former right-of-way of Henry Flagler's Florida East Cost Railroad which was destroyed as a direct result of the 1935 hurricane. This road is 2,369 miles from Key West to Fort Kent, Maine, at the Canadian border. The Monroe County section of the road is more commonly known as the "Overseas Highway" and referred to as the Florida Keys Scenic Highway. The corridor extends five miles into the crystal clear waters on each side of the highway. The County seat, Key West, is approximately one hundred and fifty miles southwest of Miami. Havana, Cuba lies a mere ninety miles to the south. The County is identified by the Florida Department of Economic Opportunity, Division of Community Planning and Development as the "Florida Keys Area of Critical State Concern" due the environmental sensitivity of its lands. Moreover, the County's outdoor recreation lands falls under the Florida's Land Conservation Program which reviews all growth and development decisions as outlined in comprehensive plans and the land development regulations. Monroe County is a non-charter county established under the Constitution and the laws of the State of Florida. Legislative authority and policy decisions are vested in the Board of County Commissioners (Board) consisting of the mayor and four other members, all of whom are elected. The operation of other specific government functions resides with five Constitutional Officers. These Officers are elective and their titles indicative of their specific function. The positions are the Clerk of the Court and Comptroller, Property Appraiser, Sheriff, Supervisor of Elections, and Tax Collector. Monroe County provides a full range of services including roads, A-2 health and social services, emergency medical services, park and recreational services, solid waste services, airport services, and other governmental services. Reporting Entity For financial reporting purposes, the County's primary government consists of the Board of County Commissioners, the Constitutional Officers, and the Monroe County Industrial Development Authority, a blended corporate unit. The Monroe County Comprehensive Plan Land Authority is legally separate and is treated as a discretely-presented component unit. Additional information can be found in Note 1 of the Notes to the Financial Statements. Buffet According to Florida Statutes, Chapter 129, a budget shall be prepared, balanced, approved, adopted, and executed each fiscal year (October 1 through September 30). The Board conducts budget meetings on departmental budgets and Constitutional Officers' requests. A tentative budget is prepared, reviewed, and adopted and the tax levies are calculated and advertised. Three public hearings are held for public input regarding the tentative budgets and proposed tax levies. On the last of the three public hearings a final budget is approved by the Board. Formal budgetary integration is employed as a management control device during the year for all fund types. During the year, the County's Office of Management and Budget acts on intradepartmental cost center budget changes and interdepartmental cost center budget changes are submitted to the Board as a Budget Resolution for approval. A budget amendment is required when alterations are made to a fund's total revenues or expenditures. The Board may adopt the budget amendment after public hearings are held. Budget to Actual Statements are presented in various locations in the CAFR and the budget process is further explained in Note 1 to the Financial Statements. Economic Condition and Outlook Local Economy Monroe County occupies a unique and beautiful corner of the United States. The County has the only living coral barrier reef in the continental United States and includes the Florida Keys National Marine Sanctuary, the largest national marine sanctuary. The Florida Keys outer reefs form the third largest barrier reef system in the world. The Florida Keys offers mild climate year- round and extensive recreational water activities. This makes the Florida Keys and Key West a major domestic and international tourist destination. Seven of the top ten taxpayers in Monroe County are in the hospitality industry. Even though airport enplanements increased by 4.4% in the past year, the County's bed tax revenues experienced a decline of 3.2%. A-3 The County experienced a direct hit from Hurricane Irma in September 2017. This Category 4 hurricane was the strongest to ravage the County in decades. While the County and its residents have worked hard to minimize the impact of the storm on the local economy, the County has had to shift its focus throughout FY 2018 to manage its recovery efforts including debris removal as well as marine debris removal, housing strategies for residents and workforce alike, assistance in procuring grants and programs, and repairs on the local government infrastructure. The County is projecting hurricane-related expenses will total $125 million: estimated emergency expenses of $41 million, estimated permanent repair work of$50 million, and estimated canal debris removal of$34 million. Long-term Financial Planning The County has developed the Monroe County Year 2030 Comprehensive Plan. The plan evaluates all aspects that affect the Florida Keys including land use, housing, marine resources and conservation of environmentally sensitive land. It addresses transportation including mass transit, traffic circulation, ports, aviation, and infrastructure (potable water, sewer, solid waste disposal, and natural groundwater aquifer recharge). The Plan also includes an evaluation of recreation and open space, cultural resources, historic preservation, and capital improvements. The County is balancing the use of ad valorem tax revenues with the maintenance of General Fund reserves to insulate the General Fund from revenue fluctuations due to disasters of any kind and provide adequate working capital for operations. The Board continues to respond to ongoing economic conditions by maintaining rigorous cost controls, instituting hiring freezes and scrutinizing the cost benefit of outside contractors. The Board continues to focus on its efforts to balance costs, services to Monroe County citizens, and reductions in its revenue base. The County provides healthcare coverage for 422 retirees. The County has implemented the requirements of GASB Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions, in FY 2018. Among the changes required by the new accounting standard, the County must recognize the present value of projected postemployment benefits (OPEB) to be provided to current and inactive employees attributable to past periods of service as opposed to recognizing the liability based on actuarially required contributions. While the accounting change increased the County's total OPEB liability to over $68 million as of the beginning of the fiscal year, the changes the County made to the program's benefit terms and changes to programmatic assumptions allowed savings that reduced the outstanding OPEB liability as of September 30, 2018 to $38.5 million. Major Initiatives Capital project funding is derived from multiple sources which include impact fees, various grants, One Cent Infrastructure Sales Surtax, state revolving funds, and the issuance of revenue bonds. A large revenue source for capital projects is derived from the One Cent Infrastructure Surtax. The tax, maintained in a separate fund, allows for the imposition on both residents and visitors a one percent tax on most purchases in the County. This revenue source has generated over $406 A-4 million since its 1990 inception. In FY 2013, Monroe County residents approved a referendum providing an extension of the One Cent Infrastructure Sales Surtax to FY 2033. The County's Capital Improvement Plan (Plan) identifies capital projects that are to be funded from FY 2019 through FY 2023, a five-year period. The adopted annual capital budget represents the first year of the multi-year Plan. The Plan also allows the County to maintain the value of its long-term infrastructure assets such as buildings, roads, bridges, and parks. Some of the highlights from the 2019-2023 Plan to be funded with One Cent Infrastructure Surtax include: • General Government: - $1.2 million for the purchase of the Ocean Reef Emergency Building; - $1 million for the installation of an updated county-wide phone system; - $6 million for Jefferson Browne renovation; - $7.5 million for a working waterfront. • Culture and Recreation: - $5.2 million for Higg's Beach Master Plan; - $7.3 million for the Marathon Library; - $1 million for Rowell's Marina. • Public Safety: - $.6 million for the Layton Fire Station property purchase; - $5 million for the Cudjoe Fire Station; - $34.6 million for the Plantation Key Jail and Courthouse. The following are major capital projects that were substantially completed in FY 2018: • Bernstein Park on Stock Island; • Marathon Hanger; and • Automation of the Card Sound Toll. The State of Florida mandated in 1999 that advanced wastewater treatment systems be installed to improve water quality in the Florida Keys. In fiscal year 2018, the County capitalized over $5 million related to this project. In addition, the County has completed connecting most of its service areas to the wastewater treatment plan, including the Cudjoe Regional project which includes Upper and Lower Sugarloaf Keys, Summerland Key, Ramrod, Cudjoe and Big Pine Keys. Construction of wastewater collection and transmission systems continues on Big and Middle Torch Keys and No Name Key as well as the expansion of the Layton system to serve the east and west ends of Long Key. Construction costs are approximated to be $207 million. To finance the project, the County has levied wastewater special assessments, obtained a state grant, and obtained a Florida Department of Environmental Protection loan. The County also A-5 entered into an interlocal agreement with the Key Largo Wastewater Treatment District to accept the district's portion of the Mayfield Fund Grant. The County will repay the grant to the District at no interest over the next ten years. The project's debt is collateralized by the local infrastructure sales surtax and wastewater special assessments. Relevant Financial Policies The Board strives to adhere to sound financial management principles to ensure that sufficient funds are available to maintain a stable financial base for the County. To achieve a stable financial base, the County budgets to maintain fund balances sufficient to fund the County's cash flow needs, to provide financial reserves for unanticipated expenditures or unexpected revenue shortfalls, to provide funds for the disparity in timing between property tax collection, sales tax distributions as well as other revenues and expenditures, and to secure and maintain investment grade bond ratings. In accordance with Section 218.415, Florida Statutes, the County's investment policy establishes investment objectives, maturity and liquidation requirements, portfolio composition, risk and diversification requirements, and authorized investments. The primary objective of investment activity is to preserve capital and maintain sufficient liquidity to meet anticipated cash flow needs. A secondary objective is to obtain competitive returns on the investment of the County's surplus funds. The County adheres to Governmental Accounting Standards Board's Statement No. 54 which requires governmental entities to classify a fund balance into one of five categories to indicate the constraints imposed upon these resources: non-spendable, restricted, committed, assigned and unassigned. An unassigned fund balance is the residual classification that includes all spendable amounts not contained within the other four classifications. In the event that the unassigned General Fund balance is less than four months of budgeted expenditures as dictated by the Board's policy, the County shall plan to adjust budget resources in the subsequent fiscal years to restore the balance. Appropriation from unassigned General Fund balance shall require Board approval and shall be only for one-time expenditures, such as capital purchases, and not for ongoing expenditures unless a viable plan designated to sustain the expenditures is simultaneously adopted. The Board has the responsibility of responding to emergency disaster and has $10 million in disaster reserve funds to ensure adequate cash flow is available in post-disaster situations. In the event these funds fall below the set amount, an action plan to begin replenishment to the appropriate level will be addressed in the ensuing budget year. Awards and Acknowledgments The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to Monroe County, Florida for its Comprehensive Annual Financial Report for the fiscal year ended September 30, A-6 2017, This was the thirtieth (3 01h) consecutive year that Monroe County has achieved this prestigious award. To be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both U.S. generally accepted accounting principles and applicable legal requirements, A Certificate of Achievement is valid for a period of one year only. We believe that our current comprehensive annual financial report continues to meet the Certificate of Achievement Program's requirements and we are submitting it to the GFOA to determine its eligibility for another certificate. In addition, Monroe County also received the GFOA's Distinguished.Budget Presentation Award for its annual appropriated budget. This was the nineteenth (19111) year that Monroe County received this award. To qualify for the Distinguished Budget Presentation Award, the government's budget document was judged to be proficient in several categories including policy documentation, financial planning, and organization. This report is the product of the dedication and hard work of the Finance Department under the direction of Monroe County's Clerk of the Circuit Court & Comptroller, Kevin Madok, CPA as Auditor and Chief Financial Officer to the Board of County Commissioners, We would like to express our appreciation to the entire Finance Department, the Board of County Commissioners and their staff and other Constitutional Officers for their assistance in the preparation of this report. This includes their dedicated support in planning and conducting the financial operations of the County in a responsible and progressive manner throughout the year. We also extend our thanks and appreciation to our independent auditor, Cherry Bekaert LLP, for its outstanding efforts, advice, and assistance. Sincerely, /�,/....................... .11,11111.11............. Kevin Madok, CPA Pam Radloff, CP Clerk of the Circuit Court & Comptroller Monroe County Chief Financial Officer Finance Director A-7 Governinent Fi�`K-HIICC Officel's AS"'.0ciation "C I i lwafe f "er�t' Achievement to,r Excellence 0 in Financial Reporting Presented to Monroe County ' lor*d,a For its Coniprehensive Atinual Financial Report for, the Fisc.al Year Ended September 30, 2017 af,4��A4 P Executive Direclor/CEO A-8 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS SYLVIA MURPHY, MAYOR DISTRICT 5 DANNY KOLHAGE MICHELLE COLDIRON DISTRICT I DISTRICT 2 HEATHER CARRUTHERS DAVID RICE DISTRICT 3 DISTRICT 4 ROMAN GASTESI COUNTY ADMINISTRATOR KEVIN MADOK, CPA CLERK OF THE CIRCUIT COURT AND COMPTROLLER A-9 f /) =- ; / 0o # ! ! T7@ § u @10 - § - � m ( @ ` » � o \ \ ) ƒ ) ! § \ _ u < � ` - k lo \ o \j \) ) 2 § , ) ; 2 \\�\ \ \ \ \\ \\\j ld � ! _ }( \\ � \ � o a o Cherry Bi ert'" IMB0 Report of Independent Auditor To the Honorable Mayor and Board of County Commissioners of Monroe County, Florida: Report on the Financial Statements We have audited the accompanying financial statements of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of Monroe County, Florida (the "County"), as of and for the year ended September 30, 2018, and the related notes to the financial statements, which collectively comprise the County's basic financial statements as listed in the table of contents. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these 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 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 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 involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the County's preparation and fair presentation of the 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 County'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 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 financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the County as of September 30, 2018, and the respective changes in financial position, and, where applicable, cash flows thereof and the respective budgetary comparison for the General Fund, Fine and Forfeiture Fund, HIDTA Grants Fund,Governmental Grants Fund and Sheriffs Grants Fund for the year then ended in accordance with accounting principles generally accepted in the United States of America. B-1 Emphasis of Matter As discussed in Note 22 to the financial statements, the County adopted Governmental Accounting Standards Board Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions, during the fiscal year ended September 30, 2018. As a result, net position as of October 1, 2017 has been restated. Our opinion is not modified with respect to this matter. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the Management's Discussion and Analysis and the required supplementary information as listed in the table of contents be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic 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 basic financial statements, and other knowledge we obtained during our audit of the basic 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 financial statements that collectively comprise the County's basic financial statements. The introductory section, combining and individual fund statements and schedules, statistical section and the schedule of receipts and expenditures of funds related to the Deepwater Horizon oil spill, as listed in the foregoing table of contents, are presented for purposes of additional analysis and are not a required part of the basic financial statements. The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance Projects is presented for purposes of additional analysis as required by Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, and Chapter 10.550, Rules of Auditor General, and are also not a required part of the basic financial statements. The combining and individual fund statements and schedules and the Schedule of Expenditures of Federal Awards and State Financial Assistance Projects and the schedule of receipts and expenditures of funds related to the Deepwater Horizon oil spill are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, this information is fairly stated in all material respects in relation to the basic financial statements as a whole. The introductory and statistical sections have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on them. B-2 Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated March 18, 2019, on our consideration of the County's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely 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 effectiveness of the County's 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 County's internal control over financial reporting and compliance. Orlando, Florida March 18, 2019 B-3 This page is intentionally left blank. Management's Discussion and Analysis As Finance Department management, under the direction of Monroe County's Chief Financial Officer and Clerk of the Circuit Courts and Comptroller, we offer readers this narrative overview and analysis of the financial activities of Monroe County Government (County) for the fiscal year ended September 30, 2018. We encourage readers to consider this information in conjunction with additional information furnished in the letter of transmittal in the Introductory Section of this report and the audited basic financial statements for an overall view of the County's activities. Financial Highlights • The County's total assets and deferred outflows of resources exceeded its total liabilities and deferred inflows of resources at September 30, 2018 by $577.7 million, a decrease of$15.4 million compared to prior to fiscal year. Of this amount, $428.7 million represents net investment in capital assets; $230.8 million is restricted for specific purposes (restricted net position); and the remaining portion represents negative unrestricted net position of $81.8 million. Unrestricted net position is negative primarily due to the implementation of Governmental Accounting Standards Board (GASB) Statements Nos. 68 and 75. GASB Statement No. 68 was implemented in Fiscal Year (FY) 2015 and requires the County to report on the face of the financial statements the deferred inflows, deferred outflows and net pension liabilities the County's proportionate share of the Florida Retirement System (FRS) pension plan and the Volunteer Firefighters and Emergency Medical Services pension plan. Similarly, GASB Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions, was implemented in FY 2018 and requires the reporting on the face of the financial statements of deferred inflows, deferred outflows, and net liabilities related to the County's Other Post-Employment Benefits (OPEB) program. The unfunded pension and OPEB obligations will continue to negatively impact unrestricted net position for future periods until all plans have been fully funded. • Comparing FY 2018 with FY 2017, the results of governmental activities (including restatements) produced a decrease in net position of$12.4 million, while in FY 2017 net position decreased by $.6 million. We discuss key changes in net position later in Management's Discussion & Analysis (MD&A). • Comparing FY 2018 with FY 2017, the results of business-type activities (including restatements) produced a decrease in net position of $2.9 million, while in FY 2017 net position increased by $5.0 million. We discuss key changes in net position later in this MD&A. • As of September 30, 2018 and 2017, the County's governmental funds reported combined ending fund balances of $227.7 million and $214.5 million, respectively. Of the combined fund balance, $13.5 million or 5.9%is available for spending at the County's discretion (unassigned balance). • The County's General Fund (primary operating fund) reported a total fund balance of $34.3 million, a decrease of $.5 million from the prior year. In September 2018, the County sustained direct impact from a major hurricane which was a major factor in the decrease of$.5 million in the C-1 General Fund balance. The County incurred costs associated with emergency protective measures and debris removal, a large portion of which the County anticipates will be reimbursed by both the State and Federal governments during subsequent fiscal years. • Bonded debt and loans of the County increased $50.8 million in FY 2018. This was comprised of $59.5 million in new debt less $8.7 million in reductions (payments). The County's percentage of bonded debt and loans compared to net position increased from 30.6% to 39.9%. The other components of long-term debt are discussed in further detail later in this MD&A. Overview of the Financial Statements This MD&A is intended to serve as an introduction to the County's basic financial statements, which include government-wide financial statements, fund financial statements, as well as notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements. The chart below illustrates the components of the CAFR: Components of the Comprehensive Annual Financial Report(CAFR) Letter of Transmittal and Other General Introduction ; Information on the Government Section i Management Discussion and Analysis ; Government-Wide Financial Statements Governmental Fund Financial Statements ; Basic Proprietary Fund Financial Statements Financial Financial Statements Fiduciary Fund Financial Statements Section ' CAFR and RSI ; Notes to the Financial Statements ---- Additional Required Supplementary Information ; Information on Individual Funds and Other Supplementary Information Not Required by GAAP. i Trend Data and Nonfinancial Information Statistical Section Government-Wide Financial Statements The Government-wide Financial Statements are designed to provide the reader with a broad overview of the financial position of the County, in a manner similar to private-sector business. They include a Statement of Net Position and a Statement of Activities. These statements appear on pages D-1 through D-4 of this report. C-2 The Statement of Net Position presents information on all of the County's assets, deferred outflows of resources, liabilities and deferred inflows of resources, with the difference reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the County is improving or deteriorating. The Statement of Activities, which follows the Statement of Net Position, presents information showing how the net position changed during fiscal year 2018. The statement presents all underlying events, which contribute to the change, irrespective of the timing of the related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only affect cash flows in future fiscal periods (e.g., uncollected taxes, earned but unused vacation and medical leave). Both of the aforementioned government-wide financial statements distinguish functions of the County that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges for services (business-type activities). The governmental activities reported in the statements include general government, public safety, physical environment, transportation, economic environment, human services, culture and recreation, and court-related. The business-type activities include the County's airports, solid waste and landfill operations, and the Card Sound Road and Toll Bridge. The government-wide financial statements include not only the County itself (known as the primary government) but also the operations of the Monroe County Comprehensive Plan Land Authority. Financial information for this component unit is reported separately within the government-wide financial statements from the financial information presented for the primary government. Fund Financial Statements A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The County, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the County can be divided into three general categories: governmental, proprietary, and fiduciary funds. Governmental Funds. Governmental Funds essentially account for the same functions as those reported in the government-wide statements described above. However, unlike the government-wide statements, this set of financial statements focuses on events that produce near-term inflows and outflows of spendable resources available at the end of the fiscal year, which is a narrower focus than the government-wide financial statements. Such information may be useful in evaluating the available spendable resources. These statements appear on pages E-1 through E-17 of this report. It can be useful to compare the information presented for the governmental funds with similar information presented for governmental activities in the government-wide statements. Therefore, reconciliations are provided as a link between both the governmental fund statements and the government-wide statements to assist in this comparison. These statements appear on pages E-3 and E-6 of this report. The governmental fund financial statements present financial information for the County's general, special revenue, debt service and capital project funds. Governmental funds individually presented as major funds in the County's statements include: the General Fund; four special revenue funds: Fine and C-3 Forfeiture, High Intensity Drug Trafficking Area (HIDTA) Grants, Governmental Grants and the Sheriff's Grants; the Debt Service Fund; and three capital project funds: One Cent Infrastructure Surtax, Infrastructure Revenue Bonds Series 2014, and Cudjoe Regional Wastewater Project. There are many smaller governmental funds in the County. They have been presented in a total column "Nonmajor Governmental Funds." These funds are presented individually in the combining and individual fund statements section of the report. Proprietary Funds. The County maintains two different types of proprietary funds, enterprise and internal service. The proprietary fund statements appear on E-18 through E-27 of this report. Enterprise funds are used to report business-type activities in the government-wide financial statements. The County maintains four major enterprise funds: Municipal Service District Waste, Card Sound Bridge, Key West International Airport, and the Florida Keys Marathon International Airport. There are no non-major enterprise funds. Internal service funds are used to accumulate and allocate costs among the County's various functions. The County uses internal service funds to account for insurance activities (worker's compensation, group insurance and risk management) and fleet management activities. Internal service funds are presented in total in the fund financial statements but may be reviewed individually in the combining and individual fund statements section of the report. Because these services predominantly benefit governmental rather than business-type functions, they have been included within the government-wide financial statements as governmental activities. They are also combined into a single, aggregated presentation in the proprietary fund financial statements. Fiduciary Funds. The County uses fiduciary funds to account for resources held for the benefit of parties outside of County government, such as assets held in trust and agency funds by the County as an agent for individuals. Fiduciary funds are not reflected in the government-wide financial statements because the resources of those funds are not available to support the County's own programs. The accounting used for fiduciary funds is much like that used for proprietary funds. The fiduciary fund financial statement appears on page E-28 of this report. Notes to the Financial Statements The notes to the financial statements provide additional information that is essential to a full understanding of the data provided in both government-wide and fund financial statements. The notes commence on page F-1 and continue throughout the entire F page section. Other Information Required Supplementary Information has been added for FY 2018 for the Florida Retirement System (FRS) and Health Insurance Subsidy (HIS) Pension Plans, the Volunteer Firefighters and Emergency Medical Services Length of Service Awards Program (LOSAP) Pension Plan, and the County's Other Post-Employment Benefits (OPEB)program, as provided on pages G-1 through page G-8. Combining and individual statements and schedules mentioned earlier, which present details of non- major funds used in governmental and enterprise funds, commence on page H-1 and continue throughout the entire H page section. This section also includes the budget to actual schedules, and statements for major capital project,internal service and agency funds. C-4 Additional information about the County can be found under the Statistical Section (Section I) and the Single Audit Section (Section J) of this report. Government-Wide Financial Analysis The County adopted the government-wide financial statement presentation. This reporting structure and measurement focus using accrual accounting for all of the government's activities was mandated by the Government Accounting Standards Board (GASB) in Statement No. 34, Basic Financial Statements - and Management's Discussion and Analysis - for State and Local Governments. Comparative data for fiscal years ending September 30, 2018 and 2017 is presented. Monroe County Net Position (in thousands) The following is a condensed summary of Net Position compared to the prior year. Governmental Business-type Total Primary Activities Activities Government 2018 2017 2018 2017 2018 2017 Current and Other Assets $ 326,459 $ 316,600 $ 36,599 $ 35,313 $ 363,058 $ 351,913 Capital Assets 527,333 515,085 109,681 88,919 637,014 604,004 Total Assets 853,792 831,685 146,280 124,232 1,000,072 955,917 Deferred Outflows 55,958 50,789 2,092 1,716 58,050 52,505 Current Liabilities 46,077 53,184 6,492 5,272 52,569 58,456 Long-Term Liabilities 377,012 341,602 31,054 7,257 408,066 348,859 Total Liabilities 423,089 394,786 37,546 12,529 460,635 407,315 Deferred Inflows 19,170 7,750 604 232 19,774 7,982 Net Position: Net Investment in Capital Assets 319,026 333,523 109,681 88,919 428,707 422,442 Restricted 223,727 218,357 7,079 9,040 230,806 227,397 Unrestricted (75,262) (71,942) (6,538) 15,228 (81,800) (56,714) Total Net Position $ 467,491 $ 479,938 $ 110,222 $ 113,187 $ 577,713 $ 593,125 The largest portion of net position for 2018 and 2017 is the County's net investment in capital assets (e.g., land and depreciated buildings, infrastructure and equipment), less any outstanding debt related to their acquisition. This category represents 74.2% and 71.2% of total primary government net position for fiscal years 2018 and 2017, respectively. The County uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. Although the County's investment in capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities. C-5 The increase in capital assets reflects the County's ongoing commitment of resources to the wastewater improvement construction and other projects that have an impact on the citizens of the County. The County also continues to construct improvements to public facilities such as Plantation Key Courthouse and Detention Center, Cudjoe Fire Station, and the Marathon Public Library. Total primary government net position above also includes restricted net position. Restricted net position is resources subject to external restriction on how they may be used. In FY 2018, 40.0% of the total primary government's net position was restricted. The restrictions reported for business-type activities are comprised of the passenger facility charges and custom service operations. Restrictions reported for governmental activities are special purpose funds which report the use of resources as designated by external entities. The remaining component of net position is unrestricted net position. Unrestricted net position may be used to meet the County's ongoing obligations to citizens and creditors. Comparison of Current Assets and Liabilities (in thousands) A comparison of current assets to current liabilities for both governmental and business-type activities can be a good indication of the County's ability to meet its current and existing operational responsibilities. The ratios for the current and prior fiscal years are as follows: Governmental Business-type Activities Activities 2018 2017 2018 2017 Current Assets S 326,459 S 316,600 S 29,521 S 26,273 Current Liabilities S 46,077 S 53,184 S 6,492 S 5,272 Ratio of Current Assets to Current Liabilities 7.09 5.95 4.55 4.98 The schedule above demonstrates that the County continues to have adequate cash flows. The governmental activities ratio of 7.09 and the business-type activities ratio of 4.55 reflect the County's ability to pay back its current liabilities with available current assets. Monroe County Changes in Net Position (in thousands) The following table summarizes the changes in net position for the current and previous year. C-6 Governmental Business-type Total Primary Activities Activities Government 2018 2017 2018 2017 2018 2017 Revenues: Charges for Services $ 44,121 $ 41,941 $ 29,210 $ 28,661 $ 73,331 $ 70,602 Operating Grants and Contributions 14,900 16,970 6,339 5,608 21,239 22,578 Capital Grants and Contributions 22,912 17,243 22,457 4,993 45,369 22,236 General Revenues: Property Taxes 81,472 77,511 - - 81,472 77,511 Other Taxes 76,014 81,635 76,014 81,635 State Revenue Sharing 4,634 3,634 - - 4,634 3,634 Investment Income 3,937 2,651 359 220 4,296 2,871 Miscellaneous 6,479 1,527 240 1,830 6,719 3,357 Total Revenues 254,469 243,112 58,605 41,312 313,074 284,424 Expenses: General Government 33,047 37,502 - - 33,047 37,502 Public Safety 123,536 125,871 123,536 125,871 Physical Environment 13,858 5,143 13,858 5,143 Transportation 6,329 8,552 6,329 8,552 Economic Environment 36,763 36,494 36,763 36,494 Human Services 8,129 10,391 8,129 10,391 Culture and Recreation 5,771 6,025 5,771 6,025 Court Related 9,575 9,633 9,575 9,633 Interest on Long Term Debt 4,277 4,126 - - 4,277 4,126 Solid Waste - - 43,351 20,124 43,351 20,124 Toll Bridge 802 1,463 802 1,463 Key West Airport 10,467 12,426 10,467 12,426 Marathon Airport 2,546 2,004 2,546 2,004 PEC Operations&Restrictions - - 3,267 337 3,267 337 Total Expenses 241,285 243,737 60,433 36,354 301,718 280,091 Change in Net Position before transfers 13,184 (625) (1,828) 4,958 11,356 4,333 Transfers 1,074 - (1,074) - - - Change in Net Position 14,258 (625) (2,902) 4,958 11,356 4,333 Total Net Position-October 1 479,938 480,563 113,187 108,229 593,125 588,792 Restatement-Change in Accounting Principle (26,705) - (63) - (26,768) - Net Position-October 1(as Restated) 453,233 480,563 113,124 108,229 566,357 588,792 Net Position-Ending $ 467,491 $ 479,938 $ 110,222 $ 113,187 $ 577,713 S 593,125 Total revenues exceeded total expenses in the current year, resulting in an increase in the County's total net position of $11.3 million in FY 2018 (excluding restatement) compared to an increase in net position of$4.3 million during FY 2017. The reasons for the overall increase are explained below in the governmental activities and business-type activities sections. C-7 Governmental Activities The increase in net position for governmental activities for operations was $14.3 million during FY 2018. Due to the implementation of GASB Statement No. 75 related to OPEB liabilities, there was a restatement of the beginning net position, reducing it by $26.7 million. In contrast, the change in net position decreased by $.6 million in FY 2017. Throughout FY 2018, the County focused most of its efforts on recovery from Hurricane Irma. Because of the hurricane, the County projected its tax revenues would be negatively impacted and, as a result, reduced spending accordingly. Other highlights for governmental activity revenue and expenses are as follows: Revenues • Charges for Services increased by 5.2% between FY 2017 and FY 2018. • Tourist Development revenue FY 2018 totaled $32.8 million which is over a 10% decrease from the previous fiscal year of$36.5 million. One reason for the reduction in this revenue source was due to the extended business interruption caused by Hurricane Irma in September 2017. • Sales Taxes (1/2 Cent Sales Tax and One Cent Infrastructure Tax) were $31.8 million in FY 2018 compared to $32.9 million in FY 2017, which was a decrease by $1.1 million or 3.3%. The County's fiscal year sales tax revenue also was impacted by the aftermath of Hurricane Irma. • Operating Grants and Contributions decreased by $2 million or 12.19% while Capital Grants and Contributions increased by $5.8 million or 32.9%. Grants are nonrecurring in nature and can fluctuate from year to year. • Miscellaneous revenue increased by almost $5 million in FY 2018. This increase is primarily due to the receipt of recoveries from insurance due to damage caused by Hurricane Irma. Expenses • Pension related expenses, resulting in the change of deferred inflow of resources, deferred outflow of resources, and the net pension liabilities, increased by $4 million in FY 2018. • Depreciation expense reported in governmental activities increased by $.9 million in FY 2018. • Advertising, promotion, and operating expenses associated with tourism development increased by $.26 million in FY 2018. • Public safety operational expenses (not capitalized) decreased by $3.9 million or 3.1%. This is primarily due to the need to purchase a replacement air ambulance for the helicopter that caught on fire in December 2017. • Physical environment expenses (not capitalized) increased by $8.6 million. This increase was primarily due to debris removal from canals as part of the County's recovery efforts from Hurricane Irma. The graph below represents a comparison of program revenues to program expenses for governmental activities for fiscal year 2018. It is apparent from these graphs that general revenues were required to cover expenses for most of the functions noted. C-8 Monroe County, Horrida GovernrnenW Activities (in MiMons) For the year ended September 30, 20.'1.8 140.0 123.5 120.0 1100.0 80.0 60.0 42.6 40.0 33.0 36.8 20.0 17.3 12.0 119 1.8 6.3 0.3 1 4 8.1 0.9 5.8 5.6 9.6 0.0 11111 111!), 111! -UNIN ------1 111 HEIM auflow,I111 General Public Safety Physical I ransportation Economic Human Services Culture& Court Related Government Environment Environment Recreation 1111111 Program Revenues 1111111111 Program Expenses The largest revenue sources for governmental activities in FY 2018 are property taxes in the amount of $81.5 million and all other taxes totaling $76 million. Total taxes of$157.5 million amounted to 61.9% of the County's governmental activity revenues excluding transfers. The second largest revenue source is charges for services at $44.1 million or 17.3% of governmental activity revenues excluding transfers. The 2018 graph identifies the largest expense function as public safety, amounting to $123.5 million. This is 51.20% of the total expenses for governmental activities. The next largest functions are general government and economic environment that total $69.8 million or 28.5% of total expenses for governmental activities. The general government expenses include the Tax Collector, Property Appraiser, Clerk of the Circuit Court, and the Supervisor of Elections. The graph on the next page represents a comparison of program revenues to program expenses for governmental activities for FY 2017. C-9 Monroe County, FlorWa Governrnerrtall ActM-des (ilia Whons) For the year ended September 30, 2017 140.0 125.9 120.0 100.0 80.0 60.0 37.5 3.6 36.5 40.0 15.5 8.6 10.4 9.6 20.0 2.8 0.3 1.7 1.0 0.0 MURVEN Inno - ...... Inom aflamm" General Public Safety Physical f ransporLabon E.:conornic Human Culfture& (.;ourL Rebated GovernmenL ::.:nvironrnenL ::.:nvironrnenL Services Recreation IIIII Program Revenues IIIII Program 1:::')(penses The largest revenue sources for governmental activities in FY 2017 are property taxes in the amount of $77.5 million and all other taxes totaling $81.6 million. Total taxes of$159 million amounted to 65.5% of the County's governmental activity revenues excluding transfers. The second largest revenue source is charges for services at $41.9 million or 17.3% of governmental activity revenues excluding transfers. The FY 2017 graph identifies the largest expense function as public safety, amounting to $125.9 million. This is 51.6% of the total expenses for governmental activities. The next largest function is general government that totals $37.5 million or 15.4% of total expenses for governmental activities. The general government expenses include the Tax Collector, Property Appraiser, Clerk of the Circuit Court, and the Supervisor of Elections. Business-Type Activities The purpose of proprietary funds is to recover the majority of costs incurred in providing a service through user fees and charges for that service. Charges for services revenues in FY 2018 amounted to $29.2 million or 49.8% of all business-type activities revenue sources. Other revenue source increases include $22.5 million and $6.3 million in capital grants and operating grants respectively. The FY 2018 increase in grant revenue was due to grants received by the Key West International Airport for rehabilitating its runway and tarmac. Total expenses (excluding transfers from other funds) were greater than total revenues (excluding transfers to other funds) by $1.8 million. This was primarily due expenses charged to the Municipal Services District Waste enterprise fund related to debris removal as part of the County's recovery from Hurricane Irma. The corresponding reimbursement expected from both the Federal Emergency Management Agency (FEMA) and the State of Florida Department of Emergency Management for these expenditures was not received by September 30, 2018. The decrease in net position in FY 2018 was $2.9 million from operations. Due to the implementation of GASB Statement No. 75 related to OPEB liabilities, there was a restatement of the beginning net position, reducing it by $63 thousand. C-1 0 Financial Analysis of Monroe County's Funds Governmental Funds Governmental funds provide information on near-term inflows, outflows, and balances of spendable resources. In assessing the County's financing requirements, unassigned fund balance represents the County's net resources available for spending at the end of the fiscal year. The governmental fund types include the General Fund, special revenue, debt service and capital project funds. The County's governmental funds reported combined fund balances of$227.7 million at the end of the current fiscal year. This represents $13.2 million, or 6.2%, increase from prior year. Governmental funds held non-spendable, restricted, committed or assigned amounts totaling $214.3 million to reflect the various constraints placed on those resources for future use. The General Fund is the chief operating fund of the County. At September 30, 2018, the total fund balance in the General Fund was $34.3 million, a decrease of$.54 million, or 1.5% from the prior year. The unassigned portion of the General Fund's fund balance was $13.5 million. Tax revenue increased by $.76 million in the General Fund. Intergovernmental revenues increased by $.3 million, or 2.2%. Expenditures increased by $4.7 million or 15.25%. Other Major Fund Information (in thousands) Fine and Forfeiture HIDTA Grants Governmental Grants 2018 2017 2018 2017 2018 2017 Revenues and Other Sources $ 63,798 $ 58,849 $ 21,324 $ 20,093 $ 28,725 $ 8,450 Expenses and Other Uses 61,605 56,547 21,324 20,093 21,616 13,528 Increase/(Decrease)in Fund balance $ 2,193 $ 2,302 $ - $ - $ 7,109 $ (5,078) Sheriffs One Cent Infrastructure Revenue Bonds Grants Infrastructure Surtax Series 2014 2018 2017 2018 2017 2018 2017 Revenues and Other Sources $ 608 $ 581 $ 21,508 $ 21,632 $ 16,285 $ 15,125 Expenses and Other Uses 2,605 5,075 21,169 24,549 2,353 9,437 Increase/(Decrease)in Fund balance $ (1,997) $ (4,494) $ 339 $ (2,917) $ 13,932 $ 5,688 Cudjoe Regional Wastewater Activities Debt Service 2018 2017 2018 2017 Revenues and Other Sources $ 19,745 $ 27,790 $ 9,833 $ 9,938 Expenses and Other Uses 21,343 32,337 10,161 9,886 Increase/(Decrease)in Fund balance $ (1,598) $ (4,547) $ (328) $ 52 C-11 Fine and Forfeiture Special Revenue Fund. Total revenue and other sources for this fund increased by $4.95 million as a result of an increase in ad valorem taxes and charges for services. Total operating expenses and transfers to other funds also increased by over $5 million, which reflects increased activity due to the County's recovery efforts in October and November 2017 following Hurricane Irma. HIDTA Grants Special Revenue Fund. This fund is used to account for reimbursement grants funded by the U.S. Department of Justice to fight drug trafficking. The volume of revenues and expenditures has not significantly changed as programs established by the grantor have been continued. Governmental Grants Special Revenue Fund. The FY 2018 revenue increased due to the issuance of debt totaling $15.9 million. The County obtained a line of credit during FY 2018 to maintain sufficient cash flow as the County experienced an increase in grant-related expenses related to protective measures and debris removal from Hurricane Irma. The reimbursements the County expects to receive from federal and state governments for its hurricane-related expenditures is not anticipated to be received until subsequent fiscal years. Sheriff's Grants Fund. This fund is used by the Sheriff to account for reimbursement of various grants received by the Sheriff including revenues and expenditures related to the Sheriffs Hurricane Irma recovery. The reimbursements the Sheriff expects to receive from federal and state governments for hurricane-related expenditures is not anticipated to be received until subsequent fiscal years. One Cent Infrastructure Surtax Capital Project Fund. The County voted during the 2012 general election to extend the surtax expiration date from 2018 to 2033. This is similar to the State shared revenues based on sales tax; the trend for this receipt has been growing each year. The revenue source will be used to fund on-going capital projects. Infrastructure Revenue Bonds Series 2014. In October 2014, the County issued revenue bonds to construct and acquire equipment and capital improvements. In FY 2018, unused bond proceeds that were originally dedicated to fund the Cudjoe Regional Wastewater project were transferred to this fund. Cudjoe Regional Wastewater Capital Project Fund. This fund is used to account for the activity associated with the County's commitment to construct collection, transmission and treatment facilities. In FY 2017, total revenues decreased by $19.1 million. In FY 2018 total revenues further decreased by an additional $8.1 million. The reduction of revenues and expenses in this fund is due to the Cudjoe Project nearing its end. Debt Service. The debt service fund received transfers from other funds to cover $10.1 million in principal and interest payments on long-term debt. Proprietary Funds Proprietary fund statements provide the same information as in the business-type activities column of the government-wide statements, but in greater detail and on a fund basis for enterprise funds and internal service funds. Municipal Service District-Waste Enterprise Fund. This fund maintains the County's landfills and transfer sites. The County continues to outsource the waste haul-out services through a major contract. Revenues for charges for services (special assessments and tipping fees) increased by 15% due to an C-12 increase in tipping fees from the County's hurricane clean-up that continued in FY 2018. Despite the significant increase in revenue, the debris removal clean-up following Hurricane Irma increased the Fund's cost of operations by over $22.9 million, or an almost 115% increase from the previous fiscal year. Approximately $24 million from a line of credit obtained by the County was used by this Fund to maintain sufficient cash flow for its operating activities. The County is seeking reimbursement of its hurricane-related costs from both the Federal and State governments, which in turn, will be used by the Fund to repay the $24 million loan. Card Sound Bridge Enterprise Fund. The Bridge is an alternative route to the "Eighteen Mile Stretch." The Card Sound Road toll bridge was temporarily closed for most of FY 2018 to convert from manned toll booths to an electronic tolling operation. No tolls were collected during the fiscal year because of this conversion. Key West Airport Enterprise Fund. Compared to FY 2017, revenue decreased by $.58 million in charges for services while operational expenses increased by $1.2 million in FY 2018. The Key West Airport received over $22 million in capital grants during the year for such projects as updating the Airport's apron and runway rehabilitations, and a noise mitigation project. Marathon Airport Enterprise Fund. The airport experienced a $.48 million decrease in revenue from charges for services in FY 2018. The internal service funds include the Worker's Compensation Fund, Group Insurance Fund, Risk Management Fund and the Fleet Management Fund. The self-insurance funds are an important part of the County's operations. Of the four funds, the Workers' Compensation Fund and the Risk Management Fund experienced an operating loss. For the Workers' Compensation Fund, the FY 2018 operating loss was $.9 million an improvement from the FY 2017 operating loss of$1.02 million. The Risk Management Fund's FY 2018 operating loss of $3.4 million is primarily attributable to delays in the County receiving insurance recovery as a result of Hurricane Irma. In FY 2018, the County projected a $3.3 million shortfall in the Group Insurance Fund by the end of the fiscal year. In response, the County began efforts in FY 2018 to address the stability of the Group Insurance Fund by implementing cost-saving measures referred to as "Shared Diversity" changes. These program changes included increasing contributions for employees, retirees, and dependent coverage and reducing available health benefits to any covered person under the Plan. As a result, instead of a $3.3 million shortfall, the Group Insurance Fund had a $4.4 million positive change in net position as of September 30, 2018, before the restatement due to the implementation of GASB Statement No. 75. Capital Assets The County's financial statements present capital assets in two categories: those assets subject to depreciation, such as buildings, infrastructure, and equipment and those not subject to depreciation such as land and construction in progress. At September 30, 2018, the County has $637 million invested in a variety of capital assets, as reflected in the following schedule, which represents a net increase (additions less retirements and depreciation) of$33 million or 5.5% from the end of last year. C-13 MONROE COUNTY,FLORIDA CAPITAL ASSETS(IN THOUSANDS) NET OF DEPRECIATION Governmental Activities Business-type Activities Total 2018 2017 2018 2017 2018 2017 Land S 77,299 S 75,624 S 5,648 S 5,648 S 82,947 S 81,272 Construction In Prog. 34,829 63,565 14,808 8,572 49,637 72,137 Buildings 98,116 99,753 43,981 42,031 142,097 ° 141,784 Equipment 32,872 30,886 2,150 1,464 35,022 32,350 Infrastructure 281,513 242,521 43,094 31,204 324,607 273,725 Capacity Rights 2,704 2,736 - - 2,704 2,736 Total $ 527,333 $ 515,085 $ 109,681 $ 88,919 $ 637,014 $ 604,004 The investment in capital assets includes land, buildings, improvements, machinery and equipment, plant and equipment, infrastructure, roads, bike paths and sidewalks. Major capital asset events during the year included: • The County's primary focus for general government capital assets continued to be the construction of its wastewater collection systems and solid waste disposal. During FY 2018 a portion of these projects totaling over $32.7 million were capitalized. • Completion of the Bernstein Park project totaling $8.7 million. • Completion of the Sexton Cove road and drainage project totaling $1.4 million. • Automation of the Card Sound toll operation totaling $3.2 million. • Completion of the Marathon Hanger project totaling $3.4 million. Ongoing significant projects include the following: Bernstein Park, Summerland/Cudjoe Fire Station, Marathon Library, Key West Airport customs facility, Stock Island's road and drainage project, and Plantation Key Courthouse and Detention Center. Additional information on the County's capital assets can be found in Note 7 on pages F-20 to F-21. Long-Term Debt At September 30, 2018, the County had long-term debt in the amount of $417.1 million. This debt is mainly comprised of revenue bonds and notes secured by pledges of revenues. Revenue-secured debt for governmental activities was $208.3 million and for business-type activities was $24.1 million. The County has no general obligation bonds. Net additions to long-term debt consisted of the following: • Tax Exempt Master Revenue Note, Series 2018 for Hurricane Irma recovery - $40 million • Clean Water State Revolving Fund Construction Loan Agreement 2014 - $18.3 million • Mayfield Agreement with the Key Largo Wastewater Treatment District- $1.25 million • Increases to accrued compensated absences - $.35 million • Decreases in the other post-employment benefits liability (after restatement) - $29.5 million • Increases in the County's proportionate share of FRS and HIS pension liability - $9.5 million • Decreases in the County's LOSAP pension liability - $10,176 C-14 Retirements of long-term debt and other reductions amounted to $61.9 million. The significant increase in long-term debt reductions in FY 2018 was due to the implementation of GASB Statement No. 75, which required the County's OPEB liability to be restated at the beginning of the fiscal year. The reduction in the OPEB liability from FY 2017 to FY 2018 was $34.2 million. During FY 2018, the County implemented cost-saving measures to its OPEB program that resulted in significant savings and, in turn, reduced the County's overall liability. Moody's Investors Service rates the County's Infrastructure Sales Surtax Revenue Bonds, Series 2007, 2014 and 2016 as "Al". Standard and Poor's Ratings Services have rated these issues "A+". Further details about long-term debt are available in notes to the financial statements pages F-40 through F-44. Budgetary Highlights The FY 2018 budget was days away from being adopted when Hurricane Irma, a Category 4 hurricane, made landfall in the Florida Keys on September 10, 2017. The budget that was eventually adopted reflected the state of the County's economy pre-hurricane. Because of the storm's extensive damage, the County had to adjust its budget accordingly throughout FY 2018. The County has estimated the total Hurricane Irma expenses at $125 million: estimated emergency expenses of $41 million, estimated permanent repair work of $50 million, and estimated canal debris removal of$34 million. The County's immediate budgetary response in FY 2018 was to take the needed cost-saving measures to manage spending and re-purpose the County's resources on its needed recovery efforts. The County anticipates that Hurricane Irma will impact the County's budget for years to come. Economic Factors and Next Year's Budgets and Rates The County's short and long-term goals and policies are developed during the budget process each year. The Board discusses trends, capital projects and policy priorities at public meetings held during the budget planning phase. These priorities are further refined, clarified and adopted during the budget process. The FY 2018 budget was developed in consideration of economic stabilization being experienced and anticipated moderate increases to sales tax revenues. However, the financial outlook for the County was adversely impacted by the aftermath of Hurricane Irma. The County had lower than anticipated revenues throughout FY 2018. Moreover, there has been a longer-than-expected delay in the County receiving its reimbursement revenue from the federal and state governments for its Hurricane Irma-related expenses. Finally, the County has experienced complications with property valuations for those areas hardest hit by the storm. Total budgeted revenues/sources decreased between 2017 and 2018. The decrease in the overall budget is attributable to hurricane's impact on the County's economy. The largest revenue source of the County's General Fund is ad valorem taxes. The aggregate millage rate for 2018 is 3.4149 which is 3.1% under last year's rate of 3.5244 and 3.84% above the rolled-backed millage rate of 3.2887. After property taxes, the Local Government Half-Cent Sales Tax is the largest revenue source in the General Fund; this revenue source was budgeted to increase over 12%while Licenses and Permits were expected to decrease over 18%. Budgeted expenditures stayed close to FY 2017 levels with resources dedicated during FY 2018 on the County's hurricane recovery efforts. Expenditures for capital projects were lower than originally budgeted because resources were diverted. Significant capital projects include the following: C-15 • Construction of the Cudjoe Regional Wastewater system. • Canal debris removal. • Roadway and drainage improvement projects for Sexton Cove Estates, Bertha Street, and Stock Island. • Bernstein Park Renovation—Stock Island. • Cudjoe Key Fire Station. • Marathon Library. • Key West International Airport Custom and Border facility expansion. • Plantation Key Courthouse and Detention Center. • Roads/Paving County-wide. Tourism revenues are very important to the Keys' economic health, and the County will continue to advertise the Keys as a tourist destination. Requests for Information This financial report is designed to provide a general overview of the County's finances for all those with an interest in its finances. Questions concerning any of the information provided in this report or requests for additional information should be addressed to the Finance Director, Monroe County Clerk of the Courts and Comptroller, 500 Whitehead Street, Key West, Florida 33040. C-16 BASIC FINANCIAL STATEMENTS MONROE COUNTY, FLORIDA STATEMENT OF NET POSITION SEPTEMBER 30, 2018 Primary Government Component Unit Monroe County Governmental Business-Type Comprehensive Activities Activities Total Plan Land Authority ASSETS Current Assets: Cash and Cash Equivalents $ 101,706,511 $ 10,127,473 $ 111,833,984 $ 12,947,342 Investments 164,751,726 11,005,732 175,757,458 - Accounts Receivable, Net 1,312,972 929,501 2,242,473 - Assessments Receivable 31,597,704 - 31,597,704 - Internal Balances (431,180) 431,180 - - Due from Other Governmental Units 19,298,127 6,984,919 26,283,046 704,875 Advances from Other Governments 6,549,293 - 6,549,293 - Interest Receivable 431,633 41,771 473,404 - Inventory 7,593 - 7,593 - Prepaid Items 1,234,389 - 1,234,389 - Total Current Assets 326,458,768 29,520,576 355,979,344 13,652,217 Noncurrent Assets: Restricted Cash and Cash Equivalents - 6,807,122 6,807,122 - Restricted Accounts Receivable - 271,562 271,562 - Mortgage/Notes Receivable 8,710,753 - 8,710,753 8,769,025 Allowance for Mortgage/Notes Receivable (8,710,753) - (8,710,753) - Land and Other Nondepreciable Assets 112,127,553 20,455,465 132,583,018 31,101,288 Other Capital Assets, Net of Accum Deprec 415,205,632 89,225,917 504,431,549 14,014,953 Total Noncurrent Assets 527,333,185 116,760,066 644,093,251 53,885,266 Total Assets 853,791,953 146,280,642 1,000,072,595 67,537,483 DEFERRED OUTFLOWS OF RESOURCES Related to Pensions 55,958,288 2,091,856 58,050,144 131,690 LIABILITIES Current Liabilities: Accounts Payable 15,258,542 4,499,561 19,758,103 659 Retainage Payable 1,220,532 938,742 2,159,274 - Accrued Wages and Benefits Payable 4,022,714 163,536 4,186,250 11,673 Claims and Judgments Payable 6,205,921 - 6,205,921 - Due to Other Governmental Units 4,806,831 62,037 4,868,868 - Accrued Compensated Absences Payable 2,654,317 92,278 2,746,595 22,219 Other Current Liabilities 1,117,799 - 1,117,799 - Deposits in Escrow 205,385 66,721 272,106 - Unearned Revenue 2,958,454 669,401 3,627,855 - Accrued Interest Payable 422,213 - 422,213 - Revenue Notes Payable 503,777 - 503,777 - Revenue Bonds Payable 4,575,000 - 4,575,000 - Mayfield Interlocal Agreement 2,125,000 - 2,125,000 - Total Current Liabilities 46,076,485 6,492,276 52,568,761 34,551 (Continued) The notes to the financial statements are an integral part of this statement. D-1 MONROE COUNTY, FLORIDA STATEMENT OF NET POSITION -CONTINUED SEPTEMBER 30, 2018 Primary Government Component Unit Monroe County Governmental Business-Type Comprehensive Activities Activities Total Plan Land Authority Noncurrent Liabilities: Accrued Compensated Absences Payable 10,424,642 369,111 10,793,753 46,482 Claims and Judgments Payable - 129,632 129,632 - Revenue Notes Payable 152,993,438 - 152,993,438 - Revenue Bonds Payable 34,985,000 24,060,741 59,045,741 - Mayfield Interlocal Agreement 13,125,000 - 13,125,000 - Other Liabilities 775,000 - 775,000 - OPEB Liability 37,330,074 1,116,000 38,446,074 83,326 Net Pension Liability 127,378,578 5,378,382 132,756,960 278,862 Total Noncurrent Liabilities 377,011,732 31,053,866 408,065,598 408,670 Total Liabilities 423,088,217 37,546,142 460,634,359 443,221 DEFERRED INFLOWS OF RESOURCES Related to Pensions 12,824,376 414,549 13,238,925 27,117 Related to OPEB 6,345,935 189,391 6,535,326 3,228 Total Deferred Inflows of Resources 19,170,311 603,940 19,774,251 30,345 NET POSITION Net Investment in Capital Assets 319,025,970 109,681,382 428,707,352 45,116,241 Restricted: Public Safety 34,523,575 - 34,523,575 - Physical Environment 67,714,487 - 67,714,487 - Transportation 15,972,613 7,078,684 23,051,297 - Economic Environment 32,176,623 - 32,176,623 - Land Authority - - - 6,130,049 Court Programs 8,367,739 - 8,367,739 - Human Services 3,341,966 - 3,341,966 - Cultural and Recreation 2,957,294 - 2,957,294 - General 4,141,804 - 4,141,804 - Capital Projects 52,663,336 - 52,663,336 - Debt Service 1,867,365 - 1,867,365 - Unrestricted (75,261,059) (6,537,650) (81,798,709) 15,949,317 Total Net Position $ 467,491,713 $ 110,222,416 $ 577,714,129 $ 67,195,607 D-2 MONROE COUNTY, FLORIDA STATEMENT OF ACTIVITIES FOR THE YEAR ENDED SEPTEMBER 30,2018 Program Revenues Operating Capital Charges for Grants and Grants and Functions/Programs Expenses Services Contributions Contributions Primary government: Governmental activities: General Government $ 33,047,216 $ 17,185,955 $ 117,518 $ - Public Safety 123,536,270 19,562,405 992,526 22,068,761 Physical Environment 13,857,103 1,607,558 10,436,923 - Transportation 6,328,758 226,678 799,326 770,644 Economic Environment 36,762,716 - 317,033 - Human Services 8,128,718 357,361 1,013,681 - Culture and Recreation 5,770,585 843,448 8,225 72,997 Court Related 9,575,187 4,337,159 1,214,508 - Interest on Long-Term Debt 4,277,283 - - - Total governmental activities 241,283,836 44,120,564 14,899,740 22,912,402 Business-type activities: Solid Waste 43,351,034 20,693,791 4,653,307 - ToII Bridge 801,434 (8,980) - - Key West Airport 10,466,369 7,550,128 810,344 584,438 Marathon Airport 2,546,125 974,882 691,835 236,997 PFC Operations&Restictions 3,267,351 - 182,691 21,636,508 Total business-type activities 60,432,313 29,209,821 6,338,177 22,457,943 Total primary government $ 301,716,149 $ 73,330,385 $ 21,237,917 $ 45,370,345 General Revenues: Taxes: Ad Valorem Taxes Tourist Impact Tax Gas Tax 1/2 Cent Sales Tax One Cent Infrastructure Tax Tourist Development Tax Other Taxes Other St. Shared Rev, Unrestricted Investment Income Settlements, Insurance Recoveries, Donations, and Other Income Transfers Total General Revenues and Transfers Change in Net Position Total Net Position-October 1 Restatement-Change in Accounting Principle Total Net Position-October 1 (as Restated) Total Net Position-Ending The notes to the financial statements are an integral part of these statements. (Continued) D-3 Net(Expense) Revenue and Changes in Net Position Primary Government Component Unit Monroe County Governmental Business-type Comprehensive Activities Activities Total Plan Land Authority $ (15,743,743) $ - $ (15,743,743) $ (577,830) (80,912,578) - (80,912,578) - (1,812,622) - (1,812,622) - (4,532,110) - (4,532,110) - (36,445,683) - (36,445,683) - (6,757,676) - (6,757,676) - (4,845,915) - (4,845,915) - (4,023,520) - (4,023,520) - (4,277,283) - (4,277,283) - (159,351,130) - (159,351,130) (577,830) - (18,003,936) (18,003,936) - - (810,414) (810,414) - - (1,521,459) (1,521,459) - - (642,411) (642,411) - - 18,551,848 18,551,848 - - (2,426,372) (2,426,372) - (159,351,130) (2,426,372) (161,777,502) (577,830) 81,472,461 - 81,472,461 4,576,630 4,095,460 - 4,095,460 - 6,160,380 - 6,160,380 - 11,043,667 - 11,043,667 - 20,805,323 - 20,805,323 - 32,763,679 - 32,763,679 - 1,145,385 - 1,145,385 - 4,633,569 - 4,633,569 - 3,937,057 359,254 4,296,311 212,732 6,479,131 240,318 6,719,449 - 1,073,778 (1,073,778) - - 173,609,890 (474,206) 173,135,684 4,789,362 14,258,760 (2,900,578) 11,358,182 4,211,532 479,938,015 113,186,881 593,124,896 63,145,320 (26,705,062) (63,887) (26,768,949) (161,245) 453,232,953 113,122,994 566,355,947 62,984,075 $ 467,491,713 $ 110,222,416 $ 577,714,129 $ 67,195,607 D-4 MONROE COUNTY, FLORIDA BALANCE SHEET GOVERNMENTAL FUNDS SEPTEMBER 30,2018 Fine& HIDTA Governmental Sheriff's General Forfeiture Grants Grants Grants ASSETS Cash and Cash Equivalents $ 17,529,672 $ 10,133,229 $ 859,763 $ 5,149,578 $ - Investments 27,471,302 3,350,757 - 297,051 - Accounts Receivable, Net 140,153 1,050,435 931 11 - Assessments Receivable - - - - - Due from Other Funds 918,186 6,722,242 63,856 - 10,451 Due from Other Governmental Units 731,950 187,170 2,529,455 7,809,936 4,644,799 Mortgages/Notes Receivable - - - 540,150 - Allowance for Mortgages/Notes Receivable - - - (540,150) - Advances from Other Governments - - - - - Interest Receivable 67,938 8,174 - 3,507 - Inventory 7,593 - - - - Prepaid Items 1,205,370 - 29,019 - - Total Assets $ 48,072,164 $ 21,452,007 $ 3,483,024 $ 13,260,083 $ 4,655,250 LIABILITIES, DEFERRED INFLOWS OF RESOURCES,AND FUND BALANCES Liabilities: Accounts Payable $ 3,349,812 $ 89,802 $ 1,200,068 $ 4,314,379 $ - Retainage Payable 11,549 - - 93,889 - Accrued Wages and Benefits Payable 2,785,329 97,831 177,515 37,892 - Due to Other Funds 3,193,996 9,304 857,473 - 6,562,239 Due to Other Governmental Units 1,609,553 60 1,246,982 1,171,369 - Unearned Revenues 2,811,697 - 986 145,771 - Other Current Liabilities 1,585 - - - - Deposits in Escrow 5,410 - - - - Total Liabilities 13,768,931 196,997 3,483,024 5,763,300 6,562,239 Deferred Inflows of Resources: Unavailable Revenues - - - 3,845,052 4,584,431 Total Deferred Inflows of Resources - - - 3,845,052 4,584,431 Fund Balances: Nonspendable 1,212,963 - - - - Restricted - 21,255,010 - 3,651,731 (6,491,420) Committed 10,000,000 - - - - Assigned 10,841,907 - - - - Unassigned 12,248,363 - - - - Total Fund Balances 34,303,233 21,255,010 - 3,651,731 (6,491,420) Total Liabilities, Deferred Inflows of Resources, and Fund Balances $ 48,072,164 $ 21,452,007 $ 3,483,024 $ 13,260,083 $ 4,655,250 The notes to the financial statements are an integral part of these statements. E-1 One Cent Infrastructure Cudjoe Regional Debt Nonmajor Total Infrastructure Revenue Bonds Wastewater Service Governmental Governmental Surtax Series 2014 Project Fund Funds Funds $ 3,217,741 $ 27,440,856 $ 1,997,171 $ 1,012,310 $ 28,987,966 $ 96,328,286 17,023,409 - 8,957,577 1,273,232 82,244,632 140,617,960 - - - - 70,430 1,261,960 - - 26,882,565 - 4,715,139 31,597,704 - - 3,163 - 2,032,556 9,750,454 1,744,185 - - - 1,457,191 19,104,686 - - - - 8,170,603 8,710,753 - - - - (8,170,603) (8,710,753) - - 6,549,293 - - 6,549,293 42,602 - 21,009 4,036 225,777 373,043 - - - - - 7,593 - - - - - 1,234,389 $ 22,027,937 $ 27,440,856 $ 44,410,778 $ 2,289,578 $ 119,733,691 $ 306,825,368 $ 495,478 $ 156,169 $ 716,989 $ - $ 2,374,978 $ 12,697,675 464,883 422,198 - - 228,013 1,220,532 35,474 - 2,966 - 781,923 3,918,930 - - - - 1,882,808 12,505,820 17 - - - 777,965 4,805,946 - - - - - 2,958,454 - - - - 1,116,214 1,117,799 - - - - 199,975 205,385 995,852 578,367 719,955 - 7,361,876 39,430,541 - - 26,489,495 - 4,734,611 39,653,589 - - 26,489,495 - 4,734,611 39,653,589 - - - - - 1,212,963 21,032,085 26,862,489 17,201,328 2,289,578 98,694,625 184,495,426 - - - - 4,617,178 14,617,178 - - - - 4,325,401 15,167,308 - - - - - 12,248,363 21,032,085 26,862,489 17,201,328 2,289,578 107,637,204 227,741,238 $ 22,027,937 $ 27,440,856 $ 44,410,778 $ 2,289,578 $ 119,733,691 $ 306,825,368 E-2 MONROE COUNTY, FLORIDA RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION SEPTEMBER 30, 2018 Amounts reported for governmental activities in the statement of net position are different because: Ending fund balance -governmental funds $ 227,741,238 Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the governmental funds, net of accumulated depreciation of$171,572,667. 526,499,171 Deferred outflows and inflows of resources are not available in the current period and, therefore, are not reported in the governmental funds. Deferred outflows and inflows of resources at year-end consist of: Deferred outflows related to pension liabilities $ 55,137,012 Deferred inflows related to pension liabilities (12,653,987) Deferred inflows related to OPEB liabilities (6,253,785) Total 36,229,240 Unavailable revenue related to wastewater assessment activity and revenue received in advance from both the state and federal governments for grants 39,653,591 are deferred in the governmental funds but not in the government-wide financial statements. Other liability related to a certain legal claim is not reported in governmental funds as current financial resources are not used (see note 19). (775,000) Long-term liabilities are not due and payable in the current period and, therefore, are not reported in the funds. Revenue Bonds Payable (39,560,000) Revenue Notes Payable (153,497,215) Mayfield Interlocal Loan Agreement (15,250,000) OPEB Liability (36,787,074) Net Pension Liability (125,790,930) Accrued Interest Payable (422,213) Accrued Compensated Absences (12,878,608) Total (384,186,040) The assets and liabilities of the internal service funds (funds are used to charge the costs of insurance and fleet maintenance activities to individual funds) are not reported in the governmental funds. 22,329,513 Net position of governmental activities $ 467,491,713 The notes to the financial statements are an integral part of this statement. E-3 This page is intentionally left blank. MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES GOVERNMENTALFUNDS FOR THE YEAR ENDED SEPTEMBER 30,2018 Fine& HIDTA Governmental Sheriff's General Forfeiture Grants Grants Grants REVENUES: Taxes $ 21,477,531 $ 47,276,848 $ - $ - $ - Licenses and Permits - - - - - Intergovernmental 14,288,362 75,127 21,295,249 11,333,363 380,252 Charges for Services 4,344,228 10,233,568 - 139,256 - Fines and Forfeitures 2,685 65,960 - - - Investment Income 447,080 476,350 - 27,781 - Miscellaneous 1,197,708 1,096 - 103,456 50,137 Total Revenues 41,757,594 58,128,949 21,295,249 11,603,856 430,389 EXPENDITURES: Current: General Government 30,849,110 665,494 - - - Public Safety 46,530,089 11,144,664 21,323,850 11,535,241 2,604,717 Physical Environment 521,242 - - 6,668,718 - Transportation 20,282 - - 1,957,311 - Economic Environment 711,196 - - 39,284 - Human Services 7,720,742 - - 1,314,913 - Culture and Recreation 3,530,255 - - 100,264 - Court Related 4,376,373 408,818 - - - Capital Projects - - - - - Debt Service Principal-Refunded Debt - - - - - Principal - - - - - Interest - - - - - Other Debt Service Costs - - - - - Total Expenditures 94,259,289 12,218,976 21,323,850 21,615,731 2,604,717 Excess/Deficiency of Revenues Over(Under)Expenditures (52,501,695) 45,909,973 (28,601) (10,011,875) (2,174,328) OTHER FINANCING SOURCES(USES): Transfers from Other Funds 55,206,326 5,669,741 28,601 1,182,214 177,715 Transfers to Other Funds (3,246,895) (49,386,465) - - - Issuance of Debt - - - 15,939,259 - Total Other Financing Sources(Uses) 51,959,431 (43,716,724) 28,601 17,121,473 177,715 Net Change in Fund Balances (542,264) 2,193,249 - 7,109,598 (1,996,613) Fund Balances-October 1 34,845,497 19,061,761 - (3,457,867) (4,494,807) Fund Balances-September 30 $ 34,303,233 $ 21,255,010 $ - $ 3,651,731 $ (6,491,420) The notes to the financial statements are an integral part of these statements. E-4 One Cent Infrastructure Cudjoe Regional Debt Nonmajor Total Infrastructure Revenue Bonds Wastewater Service Governmental Governmental Surtax Series 2014 Project Fund Funds Funds $ 20,805,323 $ - $ - $ - $ 53,098,710 $ 142,658,412 - - 1,742,474 - 6,254,330 7,996,804 - - - - 8,733,533 56,105,886 - - - - 14,805,829 29,522,881 - - - - 4,713,017 4,781,662 176,526 285,250 876,567 72,250 1,310,001 3,671,805 526,305 - 128,253 - 322,667 2,329,622 21,508,154 285,250 2,747,294 72,250 89,238,087 247,067,072 - - - - 2,699,846 34,214,450 - - - - 36,033,637 129,172,198 - - - - 2,040,369 9,230,329 - - - - 5,930,903 7,908,496 - - - - 35,127,007 35,877,487 - - - - 280,995 9,316,650 - - - - 1,831,211 5,461,730 - - - - 4,752,499 9,537,690 7,955,175 2,352,963 5,342,517 - 1,905,239 17,555,894 - - - 8,670,397 - 8,670,397 - - - 1,424,992 - 1,424,992 - - - 65,300 - 65,300 7,955,175 2,352,963 5,342,517 10,160,689 90,601,706 268,435,613 13,552,979 (2,067,713) (2,595,223) (10,088,439) (1,363,619) (21,368,541) - 16,000,000 503,056 9,760,598 9,120,779 97,649,030 (13,213,422) - (16,000,000) - (13,636,096) (95,482,878) - - 16,494,491 - - 32,433,750 (13,213,422) 16,000,000 997,547 9,760,598 (4,515,317) 34,599,902 339,557 13,932,287 (1,597,676) (327,841) (5,878,936) 13,231,361 20,692,528 12,930,202 18,799,004 2,617,419 113,516,140 214,509,877 $ 21,032,085 $ 26,862,489 $ 17,201,328 $ 2,289,578 $ 107,637,204 $ 227,741,238 E-5 MONROE COUNTY, FLORIDA RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES FOR THE YEAR ENDED SEPTEMBER 30, 2018 Amounts reported for governmental activities in the statement of activities are different because: Net change in fund balances-total governmental funds $ 13,231,361 Governmental funds report capital outlays as expenditures. However, in the statement of activities the cost of those assets is allocated over their estimated useful lives and reported 14,729,706 as depreciation expense.This is the amount by which capital outlays of$30,406,101 exceed depreciation of$15,676,393 in the current period. The net effect of various miscellaneous transactions involving capital assets (i.e., sales and donations) is to decrease net position. The largest component included in this number are (2,468,916) amounts capitalized in CIP in the prior year which,when completed,were below the County's capitalization threshold. Debt issuance is reported as revenue in the governmental funds as current financial resources are available, but as a long-term liability on the Statement of Net Position. (32,433,750) Payment of long-term debt is reported as an expenditure in the Governmental funds as current financial resources are used, but a reduction of long-term liabilities in the statement 8,670,397 of net position. Some expenses reported in the statement of activities do not require the use of current financial resources and, therefore, are not reported as expenditures in the governmental funds: Change in capitalized interest on long-term debt $ (3,034,652) Change in accrued interest 129,317 Change in compensated absences (296,455) Change in original issue premium 53,044 Change in OPEB liability 21,962,501 Change in net pension liability and related deferred outflows and inflows (8,751,954) 10,061,801 Revenues that do not provide current financial resources are not reported on governmental funds. However, revenues that are earned in the current period are reported in the (752,285) statement of activities. The net revenues of internal service funds (funds used to charge the costs of certain activities to individual funds)are reported with governmental activities. 3,220,446 Change in net position of governmental activities $ 14,258,760 The notes to the financial statements are an integral part of this statement. E-6 This page is intentionally left blank. MONROE COUNTY,FLORIDA STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES-BUDGET AND ACTUAL GENERALFUND FOR THE YEAR ENDED SEPTEMBER 30,2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 22,552,756 $ 22,552,756 $21,477,531 $ (1,075,225) Intergovernmental 13,776,000 13,776,000 14,288,362 512,362 Charges for Services 3,930,590 3,930,590 4,344,228 413,638 Fines and Forfeitures 8,000 8,000 2,685 (5,315) Investment Income 116,300 116,300 447,080 330,780 Miscellaneous 612,800 701,365 1,197,708 496,343 Total Revenues 40,996,446 41,085,011 41,757,594 672,583 EXPENDITURES: Current: General Government: Board of County Commissioners Admin 1,874,014 1,874,014 1,693,961 180,053 Clerk to BOCC-Financial Package 5,000 5,000 - 5,000 Gov't Enterprise Management System 75,000 75,000 26,495 48,505 Clerk Comm and Fees-Noncourt 4,356,196 4,356,196 3,250,931 1,105,265 Insurances-Supervisor of Elections 178,318 178,318 169,100 9,218 Promotional Advertising 5,000 5,000 - 5,000 Value Adjustment Board 35,000 35,000 29,353 5,647 Tax Increment Payment 300,000 300,000 252,655 47,345 Employee Suggestion Plan 10,000 10,000 - 10,000 FIRM Study 50,000 50,000 50,000 - Lobbyist 151,432 151,432 104,765 46,667 County Administrator 967,894 1,001,894 985,362 16,532 Technical Services 2,344,205 2,344,205 2,021,019 323,186 Technology Replacement 472,100 485,101 313,724 171,377 Grants Administration 216,264 341,264 268,843 72,421 Office of Management and Budget 684,153 659,153 634,453 24,700 Purchasing 91,447 91,447 81,325 10,122 Personnel 751,292 751,293 535,945 215,348 Public Works Management 13,137 13,137 12,910 227 Public Works Facilities Maintenance 8,010,075 8,010,074 6,739,349 1,270,725 ADA Compliance 50,000 50,000 48,874 1,126 County Attorney 1,460,972 1,460,972 1,306,124 154,848 Tax Collector 4,647,064 5,035,445 6,783,878 (1,748,433) Property Appraiser 4,591,899 4,591,899 4,224,477 367,422 Supervisor of Elections 1,630,227 1,630,227 1,441,869 188,358 Quasi External Services 215,000 215,000 205,551 9,449 Hurricane 100,000 100,000 - 100,000 Total General Government 33,285,689 33,821,071 31,180,963 2,640,108 (Continued) The notes to the financial statements are an integral part of these statements. E-7 MONROE COUNTY,FLORIDA STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES-BUDGET AND ACTUAL(CONTINUED) GENERALFUND FOR THE YEAR ENDED SEPTEMBER 30,2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Public Safety: Emergency Management 283,136 318,136 308,028 10,108 Marathon Emergency Operations Center 79,114 79,114 63,158 15,956 Medical Examiner 704,473 704,473 545,663 158,810 Sheriff Law Enforcement and Corrections 46,467,397 47,830,027 45,034,051 2,795,976 Fire Academy 610,005 646,005 542,388 103,617 Fire and EMS LOSAP 48,000 48,000 36,801 11,199 Total Public Safety 48,192,125 49,625,755 46,530,089 3,095,666 Physical Environment: Extension Service 278,744 278,744 212,844 65,900 Sustainability 786,509 669,969 308,398 361,571 Total Physical Environment 1,065,253 948,713 521,242 427,471 Transportation: County Engineer 279,344 279,344 20,282 259,062 Total Transportation 279,344 279,344 20,282 259,062 Economic Environment: Literacy Volunteers of America 40,000 40,000 40,000 - Veteran's Affairs 548,606 548,606 534,211 14,395 Veteran's Affairs Transportation 154,372 154,372 136,985 17,387 Total Economic Environment 742,978 742,978 711,196 31,782 Human Services: Middle Keys Guidance Clinic 38,685 38,685 38,685 - Older Americans Volunteer Program 500 500 - 500 Domestic Abuse Shelter 60,000 60,000 60,000 - Hospice of the Florida Keys 190,000 190,000 24,683 165,317 Florida Keys Outreach Coalition 90,000 90,000 90,000 - Samuel's House 100,000 100,000 100,000 - Womankind 140,000 140,000 140,000 - Grace Jones 55,000 55,000 55,000 - AIDS Help 60,000 60,000 60,000 - Good Health Clinic 96,000 96,000 96,000 - Monroe County Assn for ReMARCable Citizens 190,000 190,000 190,000 - Florida Keys Children's Shelter 189,000 189,000 189,000 - Wesley House 160,000 160,000 160,000 - Florida Keys Area Health Education 68,000 65,000 65,000 - (Continued) The notes to the financial statements are an integral part of these statements. E-8 MONROE COUNTY,FLORIDA STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES-BUDGET AND ACTUAL(CONTINUED) GENERALFUND FOR THE YEAR ENDED SEPTEMBER 30,2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Human Services(continued): Heron/Peacock 47,000 47,000 47,000 - Kids Come First-FL Keys 33,000 33,000 32,996 4 Boys and Girls Club 110,000 110,000 110,000 - Florida Keys Healthy Start Coalition 40,000 42,750 42,750 - Keys Area Interdenominational Resources 30,000 30,000 30,000 - Star of the Sea Foundation 100,000 100,000 100,000 - Independence Cay 30,000 30,000 30,000 - Anchors Aweigh 20,000 20,000 20,000 - Baker Act LKMC FS 394.463 83,334 187,501 178,287 9,214 Guidance Care Clinic Baker Act Transp 160,000 160,000 156,568 3,432 Guidance Care Clinic/Samuel House-FS 394.76 972,000 818,332 818,332 - Guidance Care Clinic Jail In-house Program 237,227 237,227 171,374 65,853 Historic Florida Keys Foundation 32,450 32,450 32,450 - Animal Shelters 1,310,122 1,310,122 1,106,035 204,087 Welfare Administration 692,913 700,413 698,844 1,569 Welfare Services 1,002,500 1,002,500 874,594 127,906 Health Care Respite Act 46,707 46,707 4,064 42,643 Bayshore Manor 937,082 937,081 906,248 30,833 Social Service Transportation 1,030,969 1,030,969 991,216 39,753 Burton Memorial United Methodist Church 12,000 12,000 12,000 - Keys To Be Change 55,000 55,000 55,000 - Autism Society of the Keys 30,000 30,000 30,000 - Voices for the Florida Keys Children 15,000 15,000 4,616 10,384 Total Human Services 8,464,489 8,422,237 7,720,742 701,495 Culture and Recreation: Fine Arts Council 72,765 72,765 72,765 - Lower Keys AARP 4,500 4,500 4,500 - Middle Keys AARP 4,500 4,500 3,470 1,030 Big Pine Key AARP 4,500 4,500 1,621 2,879 Upper Keys AARP 4,500 4,500 1,019 3,481 Heart of the Keys Recreation 40,000 40,000 40,000 - Higgs Beach Maintenance 99,551 99,551 88,665 10,886 Library Admin Support 982,109 982,109 850,547 131,562 Library Key West 926,417 926,417 804,134 122,283 Library Key West Donations - 166,097 71,357 94,740 Library Marathon 479,575 479,575 419,287 60,288 Library Marathon Donations - 9,779 1,753 8,026 Library Islamorada 365,254 365,254 293,447 71,807 Library Islamorada Donations - 6,490 2,948 3,542 Library Key Largo 524,113 524,113 482,087 42,026 Library Key Largo Donations - 8,438 3,324 5,114 Library Big Pine Key 440,762 440,762 388,356 52,406 Library Big Pine Key Donations - 11,837 975 10,862 Total Culture and Recreation 3,948,546 4,151,187 3,530,255 620,932 (Continued) The notes to the financial statements are an integral part of these statements. E-9 MONROE COUNTY,FLORIDA STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES-BUDGET AND ACTUAL(CONTINUED) GENERALFUND FOR THE YEAR ENDED SEPTEMBER 30,2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Court Related: Law Library 77,358 77,358 74,751 2,607 Guardian Ad Litem 209,514 209,514 119,298 90,216 Clerk of the Court-General Mgt - - - - Clerk of the Court-Jury Management - - - - Clerk Records Management - - - - Clerk of the Circuit Court-Criminal - - - - Clerk of the Circuit Court-Civil - - - - Clerk of the Circuit Court-Family - - - - Clerk of the Circuit Court-Juvenile - - - - Clerk of the Circuit Court-Probate - - - - Clerk County Court-Criminal - - - - Clerk County Court-Civil - - - - Clerk County Court-Traffic - - - - State Attorney 344,603 344,603 218,289 126,314 Public Defender 737,938 737,938 650,126 87,812 Sheriff Court Security 1,699,043 1,699,043 1,699,043 - Court Administration 2,527 2,527 2,266 261 Court Admin-Judicial Support 165,335 174,503 160,797 13,706 Court Case Management 177,907 177,907 160,967 16,940 Court Admin-Circuit Ct Reporter Svcs 1,675 1,675 677 998 Court Admin-Circuit Drug Court 401,022 401,022 384,426 16,596 Court Admin-Pretrial Release 553,478 553,478 493,999 59,479 Ct.Admin-Pretrial Svcs Drug Diversion 194,279 194,278 181,764 12,514 Court Admin-Information Systems 235,893 235,893 229,970 5,923 Total Court Related 4,800,572 4,809,739 4,376,373 433,366 Total Expenditures 100,778,996 102,801,024 94,591,142 8,209,882 Excess/Deficiency of Revenues Over(Under)Expenditures (59,782,550) (61,716,013) (52,833,548) 8,882,465 OTHER FINANCING SOURCES(USES): Reserve for Contingencies (849,828) (122,486) - 122,486 Reserve for Cash Balance (7,033,432) (7,033,432) - 7,033,432 Transfers from Other Funds 55,256,688 56,644,349 55,538,179 (1,106,170) Transfers to Other Funds (1,503,514) (1,685,054) (3,246,895) (1,561,841) Total Other Financing Sources(Uses) 45,869,914 47,803,377 52,291,284 4,487,907 Net Change in Fund Balances (13,912,636) (13,912,636) (542,264) 13,370,372 Fund Balances-October 1 13,912,636 13,912,636 34,845,497 20,932,861 Fund Balances-September 30 $ - $ - $34,303,233 $34,303,233 The notes to the financial statements are an integral part of these statements. E-10 MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL FINE AND FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 48,677,184 $ 48,677,184 $ 47,276,848 $ (1,400,336) Intergovernmental - - 75,127 75,127 Charges for Services 9,085,450 9,085,450 10,233,568 1,148,118 Fines and Forfeitures 81,500 81,500 65,960 (15,540) Investment Income 105,000 105,000 476,350 371,350 Miscellaneous 1,500 944,999 1,096 (943,903) Total Revenues 57,950,634 58,894,133 58,128,949 (765,184) EXPENDITURES: Current: General Government: Tax Increment Payment 700,000 700,000 665,494 34,506 Total General Government 700,000 700,000 665,494 34,506 Public Safety: Sheriff Law Enforcement 116,069 4,559,568 3,263,125 1,296,443 Sheriff Corrections 3,445,480 3,445,480 3,052,258 393,222 Bond Refunds 25,000 25,000 - 25,000 Law Enforcement Education Assistance 75,000 75,000 75,000 - Correction Facilities 2,249,440 2,249,440 1,791,259 458,181 Medical Air Transport 2,784,911 2,854,911 2,784,096 70,815 Interagency Communications 43,803 43,803 39,277 4,526 Juvenile Detention Cost Share 276,000 276,000 139,649 136,351 Total Public Safety 9,015,703 13,529,202 11,144,664 2,384,538 Court Related: Sheriff Extradition 50,000 70,000 61,688 8,312 Sheriff Court Security 377,638 377,638 347,130 30,508 Total Court Related 427,638 447,638 408,818 38,820 Total Expenditures 10,143,341 14,676,840 12,218,976 2,457,864 Excess/Deficiency of Revenues Over(Under) Expenditures 47,807,293 44,217,293 45,909,973 1,692,680 (Continued) The notes to the financial statements are an integral part of these statements. E-11 MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL(CONTINUED) FINE AND FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) OTHER FINANCING SOURCES (USES): Reserve for Contingencies (674,021) (584,021) - 584,021 Reserve for Cash Balance (5,734,570) (5,734,570) - 5,734,570 Transfers from Other Funds 1,500,000 5,155,007 5,669,741 514,734 Transfers to Other Funds (49,228,891) (49,383,898) (49,386,465) (2,567) Total Other Financing Sources (Uses) (54,137,482) (50,547,482) (43,716,724) 6,830,758 Net Change in Fund Balances (6,330,189) (6,330,189) 2,193,249 8,523,438 Fund Balances -October 1 6,330,189 6,330,189 19,061,761 12,731,572 Fund Balances -September 30 $ - $ - $ 21,255,010 $ 21,255,010 The notes to the financial statements are an integral part of these statements. E-12 MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL HIDTA SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 20,100,000 $ 21,360,001 $ 21,295,249 $ (64,752) EXPENDITURES: Current: Public Safety: Public Safety 20,100,000 21,360,001 21,323,850 36,151 Excess/Deficiency of Revenues Over(Under) Expenditures - - (28,601) (28,601) OTHER FINANCING SOURCES (USES): Transfers from Other Funds - - 28,601 28,601 Total Other Financing Sources (Uses) - - 28,601 28,601 Net Change in Fund Balances - - - - Fund Balances -October 1 - - - - Fund Balances -September 30 $ - $ - $ - $ - The notes to the financial statements are an integral part of these statements. E-13 This page is intentionally left blank. MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL GOVERNMENTAL GRANTS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 866,728 $ 84,796,938 $ 11,333,363 $ (73,463,575) Charges for Services - 319,385 139,571 (179,814) Investment Income - - 27,781 27,781 Miscellaneous - - 103,456 103,456 Total Revenues 866,728 85,116,323 11,604,171 (73,512,152) EXPENDITURES: Current: Public Safety: Hurricane Irma Recovery - 25,643,552 11,155,613 14,487,939 Emergency Management Base Grant - 262,382 131,384 130,998 Federal Emergency Base Grants - 47,576 47,576 - Radiological Emergency Preparedness - 319,385 138,899 180,486 Emergency Medical Services Award Grant - 48,679 13,966 34,713 Urban Area Security Initiative Grants - 153,995 47,803 106,192 Total Public Safety - 26,475,569 11,535,241 14,940,328 Physical Environment: Canal Restoration Project - 1,460,558 1,306,192 154,366 Hurricane Irma Canal Debris Removal - 49,257,803 4,365,095 44,892,708 Exotic Plant Removal 180,000 360,000 175,685 184,315 Park Vulnerability Analysis 30,000 30,000 - 30,000 Florida Keys Res Assur Plan 360,618 360,718 - 360,718 EPA Florida Keys Improve Water Quality - 232,240 47,806 184,434 FWC MC Removal Vessels 517,650 976,260 218,940 757,320 DEP Mobile Vessels - 555,000 555,000 - Total Physical Environment 1,088,268 53,232,579 6,668,718 46,563,861 Transportation: Card Sound Bridge Repair - 1,559,481 - 1,559,481 Garrison Bight Bridge - 1,360,607 975,813 384,794 Scenic Highway Overlooks - 1,094,492 436,413 658,079 Roadway Projects - 2,008,126 66,001 1,942,125 Transportation Planning Prog 2012 - 622,729 234,068 388,661 Pigeon Key Ferry Service - 418,151 219,212 198,939 Pigeon Key Ferry Ramp Repair - 2,105,488 26,119 2,079,369 Total Transportation - 9,169,074 1,957,626 7,211,448 (Continued) The notes to the financial statements are an integral part of these statements. E-14 MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL(CONTINUED) GOVERNMENTAL GRANTS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Economic Environment: Small Cities CDBG-2010 - 120,032 - 120,032 Disaster Recovery CDBG - 175,822 - 175,822 Disaster Recovery Coordinator - 250,000 39,284 210,716 Total Economic Environment - 545,854 39,284 506,570 Human Services: Nutritional Services In Progress - 104,106 58,917 45,189 GCC Male Jail In-house Program - 17,823 1,935 15,888 Title III-B Supportive Services - 158,377 87,842 70,535 Title III-Cl Congregate Meals - 223,156 163,207 59,949 Title III-C2 Home Delivered Meals - 432,914 216,706 216,208 Title III-E Caregiver Support Services - 236,878 78,787 158,091 Low Income Home Energy Program - 365,001 193,902 171,099 Alzheimer's Disease Initiative - 670,703 275,981 394,722 Community Care Disabled Adults - 166,227 34,653 131,574 State Housing Initiative Partnership to WAP - 30,391 34,083 (3,692) Heron Assisted Living - 16,539 - 16,539 Drug Court Medical Director Initiative - 18,569 3,928 14,641 Social Services Transportation - 167,004 164,972 2,032 Total Human Services - 21607,688 1,314,913 1,292,775 Culture and Recreation: State Aid to Libraries - 100,981 33,060 67,921 Rowell's Marina Sc Overlook - 105,563 61,804 43,759 Harry Harris Park Boat Ramp - 50,000 5,400 44,600 GV Boat Ramp Repair - 100,000 - 100,000 Lower Keys Scenic VW Area - 900,000 - 900,000 Total Culture and Recreation - 1,256,544 100,264 1,156,280 Total Expenditures 1,088,268 93,287,308 21,616,046 71,671,262 Excess/Deficiency of Revenues Over(Under) Expenditures (221,540) (8,170,985) (10,011,875) (1,840,890) (Continued) The notes to the financial statements are an integral part of these statements. E-15 MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL(CONTINUED) GOVERNMENTAL GRANTS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) OTHER FINANCING SOURCES(USES): Transfers from Other Funds 221,540 8,170,985 1,182,214 (6,988,771) Issuance of Debt - - 15,939,259 15,939,259 Total Other Financing Sources (Uses) 221,540 8,170,985 17,121,473 8,950,488 Net Change in Fund Balances - - 7,109,598 7,109,598 Fund Balances -October 1 - - (3,457,867) (3,457,867) Fund Balances -September 30 $ - $ - $ 3,651,731 $ 3,651,731 The notes to the financial statements are an integral part of these statements. E-16 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S GRANTS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 600,000 $ 650,000 $ 380,252 $ (269,748) Miscellaneous - - 50,137 50,137 Total Revenues 600,000 650,000 430,389 (219,611) EXPENDITURES: Current: Public Safety 825,000 2,715,000 2,604,717 110,283 Total Expenditures 825,000 2,715,000 2,604,717 110,283 Excess/(Deficiency) of Revenues Over/(Under) Expenditures (225,000) (2,065,000) (2,174,328) (109,328) OTHER FINANCING SOURCES/(USES): Transfers from Other Funds - - 177,715 177,715 Net Change in Fund Balances - - (1,996,613) (1,996,613) Fund Balances -October 1 - - (4,494,807) - Fund Balances -September 30 $ - $ - $ (6,491,420) $ (1,996,613) The notes to the financial statements are an integral part of these statements. E-17 MONROE COUNTY, FLORIDA STATEMENT OF NET POSITION PROPRIETARY FUNDS SEPTEMBER 30, 2018 Business-type Activities Enterprise Funds Major Funds Municipal Card Key Service District Sound West Waste Bridge Airport ASSETS Current Assets: Cash and Cash Equivalents $ 9,379,712 $ 83,406 $ 480,662 Investments 6,334,865 2,108,171 1,483,664 Accounts Receivable, Net 196,899 - 698,152 Due from Other Funds 2,504,075 - 144,211 Due from Other Governmental Units 4,694,955 - 2,221,582 Interest Receivable 25,168 11,681 1,794 Total Current Assets 23,135,674 2,203,258 5,030,065 Noncurrent Assets: Restricted Cash and Cash Equivalents - - 6,645,043 Restricted Accounts Receivable - - 271,562 Land and Other Nondepreciable Assets 4,400,127 54,071 15,116,119 Capital Assets, Net of Accum Depreciation 717,587 9,896,748 65,436,675 Total Noncurrent Assets 5,117,714 9,950,819 87,469,399 Total Assets 28,253,388 12,154,077 92,499,464 DEFERRED OUTFLOWS OF RESOURCES Related to Pensions 350,009 97,364 1,524,507 LIABILITIES Current Liabilities: Accounts Payable 2,966,740 888,599 576,771 Retainage Payable 83,349 178,653 676,740 Accrued Wages and Benefits Payable 40,220 8,774 101,339 Claims and Judgments Payable - - - Due to Other Funds 8,420 - - Due to Other Governmental Units 38,274 - 20,032 Accrued Comp.Absences Payable 21,152 10,433 54,014 Unearned Revenues - - 648,926 Deposits in Escrow 52,415 - 8,000 Total Current Liabilities 3,210,570 1,086,459 2,085,822 The notes to the financial statements are an integral part of these statements. E-18 Governmental Major Funds Activities Internal Marathon Service Airport Total Funds $ 183,693 $ 10,127,473 $ 5,378,225 1,079,032 11,005,732 24,133,766 34,450 929,501 51,012 - 2,648,286 116,869 68,382 6,984,919 193,441 3,128 41,771 58,590 1,368,685 31,737,682 29,931,903 162,079 6,807,122 - - 271,562 - 885,148 20,455,465 54,000 13,174,907 89,225,917 780,012 14,222,134 116,760,066 834,012 15,590,819 148,497,748 30,765,915 119,976 2,091,856 821,276 67,451 4,499,561 2,560,867 - 938,742 - 13,203 163,536 103,784 - - 6,205,921 - 8,420 1,369 3,731 62,037 885 6,679 92,278 40,070 20,475 669,401 - 6,306 66,721 - 117,845 6,500,696 8,912,896 (Continued) E-19 MONROE COUNTY, FLORIDA STATEMENT OF NET POSITION (CONTINUED) PROPRIETARY FUNDS SEPTEMBER 30, 2018 Business-type Activities Enterprise Funds Major Funds Municipal Card Key Service District Sound West Waste Bridge Airport Noncurrent Liabilities: Accrued Compensated Absences Payable 84,607 41,732 216,057 Claims and Judgments Payable 129,632 - - Revenue Bonds Payable 24,060,741 - - OPEB Liability 323,000 129,000 469,000 Net Pension Liability 996,293 580,674 3,450,218 Total Noncurrent Liabilities 25,594,273 751,406 4,135,275 Total Liabilities 28,804,843 1,837,865 6,221,097 DEFERRED INFLOWS OF RESOURCES Related to Pensions 75,065 19,927 293,709 Related to OPEB 54,815 21,892 79,592 Total Deferred Inflows of Resources 129,880 41,819 373,301 NET POSITION Investment in Capital Assets 5,117,714 9,950,819 80,552,794 Restricted for: Passenger Facility Charges - - 6,916,605 Customs Service Operations - - - Unrestricted (5,449,040) 420,938 (39,826) Total Net Position $ (331,326) $ 10,371,757 $ 87,429,573 Adjustment to reflect the consolidation of internal service activities related to enterprise funds Net Position of Business-type Activities The notes to the financial statements are an integral part of these statements. E-20 Governmental Major Funds Activities Internal Marathon Service Airport Total Funds 26,715 369,111 160,281 - 129,632 - - 24,060,741 - 195,000 1,116,000 543,000 351,197 5,378,382 1,587,648 572,912 31,053,866 2,290,929 690,757 37,554,562 11,203,825 25,848 414,549 170,389 33,092 189,391 92,150 58,940 603,940 262,539 14,060,055 109,681,382 834,012 - 6,916,605 - 162,079 162,079 - 738,964 (4,328,964) 19,286,815 $ 14,961,098 112,431,102 $ 20,120,827 (2,208,686) $ 110,222,416 E-21 MONROE COUNTY,FLORIDA STATEMENT OF REVENUES, EXPENSES,AND CHANGES IN NET POSITION PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2018 Business-type Activities Enterprise Funds Major Funds Municipal Card Key Service District Sound West Waste Bridge Airport Operating Revenues: Franchise Fees $ 548,730 $ $ Charges for Services 20,145,061 7,550,117 Fines and Forfeitures - 11 Miscellaneous 91,552 931 Total Operating Revenues 20,785,343 7,551,059 Operating Expenses: Personnel Services 1,347,030 396,779 3,155,980 Operations 41,659,435 36,241 8,037,609 Depreciation and Amortization 115,948 326,126 2,494,910 Asserted and Paid Claims - - - Total Operating Expenses 43,122,413 759,146 13,688,499 Operating Income(Loss) (22,337,070) (759,146) (6,137,440) Nonoperating Revenues(Expenses): Operating Grants 4,653,307 983,647 Grants and Donations-Other Sources - 9,388 Capital Contributions - - 22,220,946 Investment Income 124,654 22,424 197,634 Insurance Recoveries - - - (Loss)on Disposition of Assets - - (402) Total Non-Operating Revenues(Expenses) 4,777,961 22,424 23,411,213 Income(Loss)Before Contributions and Transfers (17,559,109) (736,722) 17,273,773 Other Financing Sources(Uses): Transfers from Other Funds 4,075 - Transfers to Other Funds (263,190) (755,807) (349,461) Total Other Financing Sources(Uses) (259,115) (755,807) (349,461) Change in Net Position (17,818,224) (1,492,529) 16,924,312 Total Net Position-October 1 17,474,176 11,768,078 70,724,663 Restatement-Change in Accounting Principle 12,722 96,208 (219,402) Total Net Position-October 1, restated 17,486,898 11,864,286 70,505,261 Total Net Position-September 30 $ (331,326) $ 10,371,757 $ 87,429,573 Change in Net Position Adjustment to reflect the consolidation of internal service activities related to enterprise funds Change in Net Position of Business-Type Activities The notes to the financial statements are an integral part of these statements. E-22 Governmental Major Funds Activities Internal Marathon Service Airport Total Funds $ - $ 548,730 $ - 974,882 28,670,060 28,514,395 11 148,237 240,720 247,063 1,123,119 29,459,521 28,761,458 438,749 5,338,538 2,377,098 1,400,196 51,133,481 6,155,023 655,731 3,592,715 61,659 - - 20,399,053 2,494,676 60,064,734 28,992,833 (1,371,557) (30,605,213) (231,375) 681,835 6,318,789 10,000 19,388 236,997 22,457,943 - 14,542 359,254 265,190 - - 3,902,446 - (402) - 943,374 29,154,972 4,167,636 (428,183) (1,450,241) 3,936,261 340,758 344,833 - (50,153) (1,418,611) (1,092,374) 290,605 (1,073,778) (1,092,374) (137,578) (2,524,019) 2,843,887 15,052,091 115,019,008 17,240,211 46,585 (63,887) 36,729 15,098,676 114,955,121 17,276,940 $ 14,961,098 112,431,102 $ 20,120,827 (2,524,019) (376,559) $ (2,900,578) E-23 MONROE COUNTY, FLORIDA STATEMENT OF CASH FLOWS PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2018 Business-type Activities Enterprise Funds Major Funds Municipal Card Key Service District Sound West Waste Bridge Airport Operating Activities: Cash Received for Services $ 20,573,136 $ - $ 8,104,016 Cash Received from Insurance Recoveries - - - Cash Payments to Suppliers for Goods and Services (42,062,797) 886,170 (7,627,636) Cash Payments for Employee Services (1,480,995) (400,126) (3,226,739) Cash Payments for Claims - - - Cash Received from(Paid to)Other Sources (4,608,549) (117) (789,506) Other Operating Revenue 99,988 4,199 1,351 Net Cash Provided by(Used in) Operating Activities (27,479,217) 490,126 (3,538,514) Noncapital Financing Activities: Operating Grants Received 4,653,307 - 983,647 Issuance of Debt 24,060,741 - - Transfers from Other Funds 4,075 - - Transfers to Other Funds (263,190) (755,807) (349,461) Net Cash Provided by(Used in) Noncapital Financing Activities 28,454,933 (755,807) 634,186 Capital and Related Financing Activities: Proceeds from Capital Grants - - 22,220,946 Acquisition of Capital Assets (670,674) (2,517,672) (20,842,959) Net Cash Provided by(Used in)Capital and Related Financing Activities (670,674) (2,517,672) 1,377,987 Investing Activities: Investment Income 124,654 22,424 197,634 Proceeds from Sales and Maturities of Investments 4,381,172 1,988,743 (1,024,546) Purchase of Investment Securities 367,449 139,445 20,976 Net Cash Provided by(Used in) Investing Activities 4,873,275 2,150,612 (805,936) Net Increase(Decrease) in Cash and Cash Equivalents 5,178,317 (632,741) (2,332,277) Cash and Cash Equivalents: October 1 4,201,395 716,147 9,457,982 September 30 $ 9,379,712 $ 83,406 $ 7,125,705 The notes to the financial statements are an integral part of these statements. E-24 Governmental Major Funds Activities Internal Marathon Service Airport Total Funds $ 1,026,704 $ 29,703,856 $ 28,777,188 - - 3,902,446 (1,842,840) (50,647,103) (5,738,341) (533,216) (5,641,076) (2,618,036) - - (17,964,080) 462,651 (4,935,521) 451,367 148,719 254,257 252,273 (737,982) (31,265,587) 7,062,817 691,835 6,328,789 - - 24,060,741 - 340,758 344,833 - (50,153) (1,418,611) (1,092,374) 982,440 29,315,752 (1,092,374) 236,997 22,457,943 - (324,419) (24,355,724) (48,655) (87,422) (1,897,781) (48,655) 14,542 359,254 265,190 (241,726) 5,103,643 (5,966,049) 43,065 570,935 961,865 (184,119) 6,033,832 (4,738,994) (27,083) 2,186,216 1,182,794 372,855 14,748,379 4,195,431 $ 345,772 $ 16,934,595 $ 5,378,225 (Continued) E-25 MONROE COUNTY, FLORIDA STATEMENT OF CASH FLOWS(CONTINUED) PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2018 Business-type Activities Enterprise Funds Major Funds Municipal Card Key Service District Sound West Waste Bridge Airport Reconciliation of Operating Income(Loss) to Net Cash Provided by(Used in) Operating Activities: Operating Income(Loss) $ (22,337,070) $ (759,146) $ (6,137,440) Adjustments to Reconcile Operating Income(Loss) to Net Cash Provided by(Used in)Operating Activities: Depreciation and Amortization 115,948 326,126 2,494,910 Nonoperating Income- Insurance Recoveries - - - Change in Assets, Liabilities,and Deferrals: (Increase) Decrease in Accounts Receivable (120,655) - (88,364) (Increase) Decrease in Due from Other Gov't Units (4,656,531) - (900,881) (Increase) Decrease in Due from Other Funds 1,288 - 541,010 (Increase) Decrease in Interest Receivable 8,436 4,199 409 Increase(Decrease)in Accounts Payable (278,255) 784,802 70,877 Increase(Decrease)in Retainage Payable 53,955 137,609 339,096 Increase(Decrease)in Accrued Wages/Benefits (48,055) (12,953) (69,332) Increase(Decrease)in Claims/Judgments Payable - - - Increase(Decrease)in Due to Other Funds - - (435,451) Increase(Decrease)in Due to Other Gov't Units 38,274 (117) 5,816 Increase(Decrease)in Due to Constitutional Officers 8,420 - - Increase(Decrease)in Comp.Absences Payable 18,486 (1,650) 31,044 Increase(Decrease)in Deposits in Escrow (1,250) - - Increase(Decrease)in Landfill Closure Costs (177,812) - - Increase(Decrease)in Unearned Revenue - - 642,263 Increase(Decrease)in OPEB Liability (247,924) (110,929) (359,988) Increase(Decrease)in Pension Liability 115,736 31,673 485,889 Increase(Decrease)in Deferred Outflows (57,008) 74,623 (387,637) Increase(Decrease)in Deferred Inflows 84,800 15,889 229,265 Total Adjustments (5,142,147) 1,249,272 2,598,926 Net Cash Provided by(Used in) Operating Activities $ (27,479,217) $ 490,126 $ (3,538,514) Noncash Investing, Capital,and Financing Activities: Increase(Decrease)in Revenue Notes Payable $ 24,060,741 $ - $ - (Loss)on Disposition of Assets - - (402) Change in Fair value of Investments $ 24,060,741 $ - $ (402) Cash Reconciliation: Unrestricted $ 9,379,712 $ 83,406 $ 480,662 Restricted - - 6,645,043 Total $ 9,379,712 $ 83,406 $ 7,125,705 The notes to the financial statements are an integral part of these statements. E-26 Governmental Major Funds Activities Internal Marathon Service Airport Total Funds $ (1,371,557) $ (30,605,213) $ (231,375) 655,731 3,592,715 61,659 - - 3,902,446 33,162 (175,857) 262,793 463,160 (5,094,252) 14,067 - 542,298 437,452 482 13,526 5,210 (294,779) 282,645 416,682 (147,865) 382,795 - (29,172) (159,512) 9,260 - - 2,434,973 - (435,451) (1,009) (509) 43,464 857 - 8,420 - 8,546 56,426 11,046 - (1,250) - - (177,812) - 18,660 660,923 - (149,674) (868,515) (416,792) 39,738 673,036 268,420 (5,914) (375,936) (295,062) 42,009 371,963 182,190 633,575 (660,374) 7,294,192 $ (737,982) $ (31,265,587) $ 7,062,817 $ - $ 24,060,741 $ - - (402) - $ - $ 24,060,339 $ - $ 183,693 $ 10,127,473 $ 5,378,225 162,079 6,807,122 -- $ 345,772 $ 16,934,595 $ 5,378,225 E-27 MONROE COUNTY, FLORIDA STATEMENT OF FIDUCIARY NET POSITION FIDUCIARY FUNDS SEPTEMBER 30, 2018 Agency Funds ASSETS Cash and Cash Equivalents $ 9,032,719 Accounts Receivable 114,050 Total Assets $ 9,146,769 LIABILITIES Due to Others $ 5,231,967 Due to Other Governmental Units 3,914,802 Total Liabilities $ 9,146,769 The notes to the financial statements are an integral part of these statements. E-28 This page is intentionally left blank. MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following summary of the more significant accounting policies of the Monroe County, Florida (the "County") is presented to assist the reader in interpreting these financial statements and should be viewed as an integral part of this report. Reporting Entity: Monroe County, Florida is a Non-Charter County established as provided by Article VIII Section 1 of the Florida Constitution and Section 125 of the Florida Statutes. The Board of County Commissioners (the "Board"), composed of five members, is the legislative body for the County and, as such, budgets and provides funding used by the separate Constitutional Offices with the exception of fees collected by the Clerk of the Circuit Court & Comptroller (Clerk) and the Tax Collector. The County Administrator serves as the principal executive officer for the Board. In addition, certain designated governmental functions are performed by constitutional officers who are elected at large. The five constitutional officers are: Clerk, Property Appraiser, Sheriff, Supervisor of Elections, and Tax Collector. Although these five officers are operationally autonomous, they do not hold sufficient corporate powers of their own to be considered legally separate component units for financial reporting purposes. Therefore, they are reported together with the Board as part of the primary government. Under the direction of the Clerk, the Monroe County Finance Department maintains the accounting system for the Board's operations, but excludes those of the Clerk, Property Appraiser, Sheriff, Supervisor of Elections, and Tax Collector, each of who maintains their own accounting system. Services provided by the County and accounted for within these financial statements include police services for unincorporated areas of the County; health and social services; emergency medical services; cultural and recreational programs; solid waste services; and other governmental services. Entity status for financial reporting purposes is governed by Statement No. 14, as amended, of the Governmental Accounting Standards Board (GASB) and Rules of the Auditor General, State of Florida. The GASB is the standard-setting body for the establishment of accounting principles generally accepted in the United States of America (GAAP) for governmental entities. Determination of the financial reporting entity of the County is founded upon the objective of accountability. Therefore, these financial statements include the County government, the primary government, and the legally separate component units for which operational or financial responsibility rests with the elected officials of the County or for which the nature and significance of their relationship to the County are such that exclusion would cause the financial statements to be misleading or incomplete. All component units of the County have a September 30 fiscal year end. These financial statements include the County's blended component unit. Blended component units are legally separate entities that are in substance part of the County's operation, as they either have governing bodies that are substantively the same as the County or they provide their services exclusively or almost exclusively to the County. The financial transactions of the component unit are merged in with similar transactions of the County as part of the primary government. F-1 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) The blended component unit of the County is as follows: Monroe County Industrial Development Authority (MCIDA) — The MCIDA was created by Monroe County, Florida Resolution pursuant to Florida Statute 159. The MCIDA serves to assist in financing and refinancing capital projects fostering economic development in the County. The Board serves as the governing board. The MCIDA is not legally required to adopt a budget; however, the County must authorize the issuance of bonded debt. The MCIDA, for financial reporting purposes, is considered a blended component unit of Monroe County, Florida. Neither the MCIDA nor the County has any legal obligation for repayment of the revenue bonds of the MCIDA. As an issuer of "conduit" debt obligations, the MCIDA has no assets, liabilities, or transactions during the current year. Discretely-presented component units are legally separate entities which do not meet the criteria for blending. They are reported in a separate column to emphasize that they are legally separate. The following is a discretely-presented component unit of the County: Monroe County, Florida Comprehensive Plan Land Authority (MCLA) — The MCLA was created by Monroe County, Florida Ordinance 031-1986 pursuant to Florida Statute 380 and is considered a legally separate entity from Monroe County. Its purpose is to operate a land acquisition program in Monroe County, to implement the Monroe County Comprehensive Plan and address issues created by it. The Monroe County Board of County Commissioners serves as the governing board but there is no financial benefit or burden relationship. Therefore, the MCLA, for financial reporting purposes, is considered a discretely-presented component unit of Monroe County, Florida and is presented as a separate column in the County's financial statements. Complete financial statements for MCLA can be obtained from MCLA's administrative office at 1200 Truman Avenue, Suite 207, Key West, Florida 33040. Basis of Presentation: Government-wide Financial Statements: The statement of net position and the statement of activities report information about the nonfiduciary activities of the primary government. Fiduciary funds of the government are eliminated from this presentation since these resources are not available for general government funding purposes. These statements provide a consolidated financial picture of the government distinguishing between governmental activities and business-type activities. Governmental activities are primarily financed through taxes and intergovernmental revenues, while business-type activities are primarily financed through charges for services to external parties. The statement of activities presents a comparison between direct expenses of the program revenues for each function of the County's governmental activities, and for each of the business-type activities. Direct expenses are those that are clearly identified with a specific program or segment. Program revenues include (a) fees, fines, and charges for services, and (b) grants and contributions that are restricted for the operating or capital requirements of a specific program. All taxes and other revenues not meeting the criteria for classification as program revenues are reported as general revenues. F-2 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Fund Financial Statements: The fund financial statements provide information about the County's funds, including its fiduciary fund and blended component unit. Separate statements for each fund category — governmental, proprietary, and fiduciary — are presented. The emphasis of fund financial statements is on major governmental and enterprise funds, each displayed in a separate column. All remaining governmental and enterprise funds are aggregated and reported as nonmajor funds. Proprietary fund operating revenues, such as charges for services, result from exchange transactions associated with the principal activity of the fund. Exchange transactions are those in which each party receives and gives up essentially equal values. Nonoperating revenues, such as subsidies and investment earnings, result from non-exchange transactions or ancillary activities. The following are reported as major governmental funds: General Fund — The General Fund is the general operating fund of the County. All general tax revenues and other receipts not required either legally or by accounting principles generally accepted in the United States of America to be accounted for in other funds are accounted for in the General Fund. Fine and Forfeiture Special Revenue Fund—The Fine and Forfeiture Fund is used to account for revenues received from fines and forfeitures imposed from the commission of statutory offenses, ad valorem taxes transferred to the Sheriff and to account for operations of the County's court support system. HIDTA Grants Special Revenue Fund—This fund is to account for all revenues and expenditures for the federal Office of National Drug Control Policy's High Intensity Drug Trafficking Areas grant program. Governmental Grants Special Revenue Fund—The Governmental Grant Fund is used to account for operating revenues and expenditures for governmental grant activity. Sheriff's Grants Special Revenue Fund — The Sheriff's Grant Fund is used to account for operating revenues and expenditures for the Sheriff's grant activity. One Cent Infrastructure Surtax Capital Project Fund— The One Cent Infrastructure Surtax Fund is used to account for capital improvements funded by the One Cent Infrastructure Surtax. Infrastructure Revenue Bonds Series 2014—The Infrastructure Revenue Bonds Series 2014 Fund is used to account for capital projects funded by the Infrastructure Revenue Bonds Series 2014. Cudjoe Regional Wastewater Capital Project Fund — The Cudjoe Regional Wastewater Capital Project Fund is used to account for the revenues and expenditures for the wastewater infrastructure for the Cudjoe Regional area of Monroe County. Debt Service Fund — The Debt Service Fund is used to account for accumulation of resources for, and payment of, interest and principal on the long-term debt incurred in the issuance of various revenue bonds and notes. F-3 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) The following are reported as major enterprise funds: Municipal Service District-Waste — The Municipal Service District-Waste Fund is used to account for the operations of solid waste collection, disposal and recycling activities, as well as the closure and post-closure of the landfills. Card Sound Bridge — The Card Sound Bridge Fund is used to account for the operations of Monroe County's Card Sound Toll Bridge. Key West Airport—The Key West Airport Fund is used to account for the operations of Monroe County's Key West International Airport. Marathon Airport—The Marathon Airport Fund is used to account for the operations of Monroe County's Florida Keys Marathon International Airport. The Board also reports the following fund types: Internal Service Funds —Internal service funds are used to account for the financing of workers' compensation insurance, health insurance, general liability insurance, and fleet maintenance services provided by one department to other departments of the County or to other governmental units on a cost reimbursement basis. Agency Funds —These funds account for assets held on behalf of third parties and do not involve the measurement of operating results. Examples include taxes, fees, and fines collected on behalf of other governments. Measurement Focus and Basis of Accounting: Government-wide and Proprietary Fund Financial Statements — These statements use a flow of economic resources measurement focus and the accrual basis of accounting. Revenues are recognized when earned and expenses are recognized when incurred, regardless of when the related cash flows take place. Amounts reported as program revenues include 1) charges to customers or applicants for goods, services, or privileges provided; 2) operating grants and contributions; and 3) capital grants and contributions, including special assessments. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes. F-4 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Non-exchange transactions, in which the County gives (or receives) value without directly receiving (or giving) equal value in exchange, include property taxes, grants, entitlements, and donations. On an accrual basis, revenue from grants, entitlements, and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied. The County has chosen to fund the Volunteer Firefighter and Emergency Medical Services Length of Service Award Pension Plan (LOSAP) on a pay-as-you-go basis. Pension expenditures are made from the General Fund, which is maintained on the modified accrual basis of accounting. Benefits and refunds are recognized when due and payable in accordance with the terms of the plan. The LOSAP has no assets accumulated in a trust that meets the following criteria, outlined in GASB Statements 67 and 68: • Contributions to the pension plan and earnings on those contributions are irrevocable. • Pension plan assets are dedicated to providing benefits to plan members. • Pension plan assets are legally protected from the creditors or employers. Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the County's enterprise funds are charges to customers for sales and services. Operating expenses for enterprise funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. Governmental Fund Financial Statements — These statements use a current financial resources measurement focus and are maintained on the modified accrual basis of accounting. Revenues are recognized when they become susceptible to accrual; that is, when they become both "measurable" and "available" to finance expenditures of the current period. The County considers amounts collected within 60 days after year end to be available and thus recognizes them as revenues of the current year, except for property taxes since such taxes are collected to finance expenditures of the subsequent period. Expenditures are recognized in the accounting period in which the related fund liability is incurred, if measurable. Principal and interest on general long-term debt are recorded as fund liabilities when due or when amounts have been accumulated in the debt service fund for payments to be made early in the following year. Expenditures related to compensated absences are recorded only when leave has been taken. F-5 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Revenues of the County, which are susceptible to accrual under the modified accrual basis of accounting, include property taxes, gas taxes, sales taxes, grants, interest revenue, and charges for services. In applying the susceptibility-to-accrual concept to intergovernmental revenues, the legal and contractual requirements of the numerous individual programs are used as guidance. There are, however, essentially two types of these revenues. In one, monies must be expended for the specific purpose or project before any amounts will be paid to the County; therefore, revenues are recognized based upon the expenditures recorded. In the other, monies are virtually unrestricted as to purpose of expenditure and substantially irrevocable; i.e., revocable only for failure to comply with prescribed compliance requirements, such as with equal employment opportunity. These resources are reflected as revenues at the time of receipt or earlier if they meet the availability criterion. If revenues are expected to be received later than 60 days following the end of the fiscal year, then a receivable is recorded, along with deferred inflows of resources. Once the funds are received, revenue and cash are recorded and the receivable and deferred inflows of resources are eliminated. Deferred inflows of resources also includes unearned revenue when receipts have not met all of the earning requirements. The proprietary fund financial statements use a flow of economic resources measurement focus and the accrual basis of accounting. Revenues are recognized when earned and expenses are recognized when incurred, regardless of when the related cash flows take place. Under the terms of the grant agreements, the County funds certain programs by a combination of specific cost-reimbursement grants, categorical block grants, and general revenues. Thus when program expenses are incurred, there are both restricted and unrestricted net position available to finance the program. It is the County's policy to first apply cost-reimbursement grant resources to such programs, followed by categorical block grants, and then by general revenues. Budgets and Bud2etary Data: Listed below are the statutory procedures followed by the Board of County Commissioners in establishing the budget for Monroe County: 1) On or before June 1 of each year, the Sheriff, the Clerk, the Tax Collector, the Property Appraiser, and the Supervisor of Elections shall each submit to the Board, a tentative budget for their respective offices for the ensuing fiscal year. 2) Within fifteen days after certification of the ad valorem tax roll by the Property Appraiser, the County Administrator submits to the Board a proposed budget for the fiscal year commencing the following October 1. The budget includes proposed expenditures and the means of financing said expenditures. 3) By Board resolution, a tentative budget is submitted to the public. Public hearings are held to obtain taxpayer comments. 4) Fifteen days after adoption of the tentative budget, a final budget is submitted for review and adoption at a final public hearing. F-6 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 5) Prior to, or on September 30, the Board's budget is legally enacted through passage of a resolution. Accordingly, all fund types have an adopted budget as required by Florida Statute 129.03. 6) During the year, the County Administrator acts on intradepartmental budget changes that do not alter the total revenue or expenditures budgeted to a cost center. A cost center represents a particular area of Board operations or a department. All other budget changes (whether they are transfers between cost centers or alterations of total revenues and expenditure in a fund) are approved by the Board. Supplemental appropriations were necessary and the budgetary data presented herein was amended by the Board during the year. 7) Florida Statute 129, Section 7, as amended in 1978, provides that only expenditures in excess of total fund budgets are unlawful. However, because the Board acts on all budget changes between cost centers, this becomes the level of control. 8) Budgeted to actual expenditure reports are employed as a management control device during the year for all fund types. 9) Budgets for all funds are adopted on a basis consistent with accounting principles generally accepted in the United States of America(GAAP) for that fund type. 10) All appropriations lapse at year end. Use of Estimates: The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America, as applicable to governmental units, requires management to make use of estimates that affect the reported amounts in the financial statements. Actual results could differ from estimates. Encumbrances: Encumbrance accounting, under which purchase orders, contracts, and other commitments for the expenditure of moneys are recorded in the restricted, committed, or assigned fund balance classifications, and is employed as an extension of the statutorily required budgetary process. Under Florida Statutes, appropriations, even if encumbered, lapse at fiscal year-end. The County's intention is to substantially honor these encumbrances under authority provided in the subsequent year's budget. Cash and Cash Equivalents: Cash balances from the majority of funds are pooled for investment purposes. Earnings from such investments are allocated to the respective funds based on applicable cash participation by each fund. The investment pools are managed such that all participating funds have the ability to deposit and withdraw cash as if they were demand deposit accounts. Therefore, all balances representing participants' equity in the investment pools are classified as cash equivalents for purposes of these statements. For investments, held separately from the pools, highly liquid (including restricted assets) with an original or remaining maturity of 90 days or less are considered cash equivalents. F-7 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Investments: Florida Statute 218.415 authorizes local governments to invest its funds pursuant to a written investment plan, which allows investment of surplus funds in the following: 1) The Florida Local Government Surplus Funds Trust Fund Investment Pool (SBA). 2) United States Government Securities —Negotiable direct obligations or obligation, the principal and interest of which are unconditionally guaranteed by the United States Government. 3) United States Government Agencies — Bonds, debentures, notes, callables, and fixed rate mortgage-backed securities issued or guaranteed by United States Government Agencies, provided such obligations are backed by the full faith and credit of the United States. 4) Federal Instrumentalities (United States Government-sponsored agencies) — senior obligations, which include bonds, debentures, notes, callables, and fixed rate mortgage-backed securities issued or guaranteed by United States government-sponsored agencies (Federal Instrumentalities). These are limited to the following: a. Federal Farm Credit Bank(FFCB) b. Federal Home Loan Bank or its County banks (FHLB) c. Federal National Mortgage Association (FNMA) d. Federal Home Loan Mortgage Corporations (Freddie Mac) including Federal Home Loan Mortgage Corporation participation certificates. 5) Interest-bearing Time Deposit or Savings Account — Non-negotiable interest-bearing time certificates of deposit or savings accounts in financial institutions organized under the laws of this State and/or in national financial institutions organized under the laws of the United States and doing business and situated in the State of Florida, provided that any such deposits are secured by the Florida Security for Public Deposits Act, Chapter 280, Florida Statutes. Additionally, the financial institution shall not be listed with any recognized credit watch information service. 6) Registered Investment Companies (Money Market Mutual Funds) — Shares in open-end and no- load Money Market Mutual Funds provided such funds are registered under the Federal Investment Company Act of 1940 and operate in accordance with 17 C.F.R. 270.2a-7, which stipulates that money market funds must have an average weighted maturity of 90 days or less. In addition, the share value of the Money Market Mutual Funds must equal $1.00. 7) Intergovernmental Investment Pool — Intergovernmental Investment Pools that are authorized pursuant to the Florida Interlocal Cooperation Act, as provided in Section 163.01, Florida Statutes. All investments are stated at fair value or at amortized cost, which approximates fair value. F-8 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Accounts Receivable: Amounts due from private individuals, organizations, or other governments, which pertain to charges for services rendered, are reported as accounts receivable. Receivables are reviewed periodically to establish or update the provisions for uncollectible amounts. These provisions are estimated based on an analysis of the age of the various accounts. Interfund Balances and Activity: During the course of normal operations, the County has numerous transactions between funds. Examples of these transactions include providing services, constructing assets, matching grants, or servicing debt. These transactions are generally recorded as interfund transfers, except for internal service fund charges, which are reflected as revenues to internal service funds and expenses/expenditures to the funds receiving the services. As part of the consolidation process, to avoid distorting financial results, the interfund activities are eliminated in the General Fund. Interfund activities such as municipal and unincorporated service district's policing, 911, and interagency communications are reported as revenues in the fund that captures the revenue and as an expenditure in the fund which disburses the funds for the service. The offsetting expenditures and revenues are reclassified to interfund transfers. However, interfund security services provided by the Sheriff and used by the airports are not eliminated. Additionally, short-term interfund loans are recorded as cash flow needs arise. As of fiscal year-end, any unpaid amounts related to these transactions are reported as "due from other funds" or "due to other funds" on the fund financial statements. Inventory: Inventory in the General Fund consists of certain supplies, which are stated at cost using the moving average cost method. The inventory is determined by an annual physical count. Inventory is reported as a non-spendable classification of fund balance as these amounts are not in spendable form and are not expected to be converted to cash. Restricted Assets: The use of certain assets of enterprise funds is restricted by specific provisions of bond resolutions and agreements with various parties. Assets so designated are identified as restricted assets on the balance sheet. When both restricted and unrestricted resources are available for use, the hierarchy of enterprise fund spending is to use restricted resources first, and then unrestricted resources as they are needed. Restricted assets are classified as noncurrent if they are for acquisition or construction of capital assets, for liquidation of long-term debt, or are for other than current operations. F-9 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Mortme/Notes Receivable: The mortgages receivable associated with the Governmental Grants and the Local Housing Assistance funds are intended to ultimately be forgiven; as such, they are offset by an allowance for uncollectible accounts. Capital Assets: Capital assets are reported in the applicable governmental or business-type activities column in the government-wide financial statements. Capital assets of the County include property, buildings, equipment, and infrastructure assets (e.g. roads, bridges, curbs and gutters, streets and sidewalks, drainage systems, and lighting systems). Constructed or purchased assets are recorded at historical or estimated historical cost at the time of purchase. Donated assets are recorded at estimated acquisition value at the date of donation. Costs of maintenance and repairs that do not add to the value of assets or extend their useful lives are not capitalized. The County maintains a $1,000 threshold for additions to equipment with an estimated useful life in excess of two years. Buildings are capitalized when the value is $15,000 or greater. Public domain and infrastructure assets represent major expenditures for such items as roads, water and sewer treatment plants and lines, landfill improvements, parks, and drainage systems. Additions and improvements for roads, water, sewer, landfill, and drainage infrastructure are capitalized when the cost amounts to $250,000, while park additions and improvements are capitalized at $25,000. Depreciation has been provided using the straight-line method. The estimated useful lives of the various classes of depreciable capital assets are as follows: Life-Years Buildings 10-50 Equipment 5-10 Intangible Assets 10-15 Infrastructure 10-50 Public Domain Infrastructure 20-50 Capacity Rights 99 Capacity rights represent an intangible asset that arose from a contract with a private wastewater operator that includes wastewater processing capacity for 1,500 equivalent dwelling units for a period of 99 years. The MCLA also has intangible assets consisting of affordable rental housing restrictions applicable to Peary Court in Key West. These restrictions require the housing at Peary Court to be rented at or below the levels set by the City of Key West's Workforce Housing Ordinance. F-10 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Compensated Absences: County policy permits employees to accumulate a limited amount of annual and sick leave, which will be paid to employees upon termination of employment. In the government-wide and proprietary fund financial statements, an expense and a liability for compensated absences and the salary-related payments are recorded as the leave is earned. Deferred Inflows of Resources: Deferred Inflows of Resources represents an acquisition of net position that applies to a future period and therefore will not be recognized as an inflow of resources until that time. The County has four items that qualify for reporting in this category: (1) Unavailable revenues, (3) Pension-related items; and (4) Other Post-Employment Benefits. The advances from other governments are grants received in advance of meeting the timing requirements for revenue recognition in governmental funds. The governmental funds report unavailable revenues where receipts are not within the 60-day time frame for revenue recognition. The enterprise and internal service funds and governmental and business-type activities report deferred inflows for pension related items as actuarially determined. Deferred Outflows of Resources: Deferred Outflows of Resources represents an acquisition of net position that applies to a future period and, therefore, will not be recognized as an outflow of resources (expense) until that future time. The County reports deferred outflows related to pensions as actuarially determined. Lone-Term Obligations: Long-term debt is reported as a liability in the proprietary fund statement of net position. Long-term debt associated with the County's governmental activities is presented on the government-wide financial statements of the County. In the County's governmental fund financial statements, the face amount of debt issued is reported as another financing source, while principal payments are reported as expenditures. Property Taxes: Property taxes, based on assessed values at January 1, are levied and become due and payable on November 1st of each year. A 4% discount is allowed if the taxes are paid in November, with the discount declining by 1% each month thereafter. Taxes become delinquent on April 1st of each year, and tax certificates for the full amount of any unpaid taxes and assessments must be sold not later than June 1st of each year. No accrual for the property tax levy becoming due in November of 2018 is included in the accompanying financial statements, since such taxes are collected to finance expenditures of the subsequent period. F-11 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Fund Balance Policies: The focus of fund balance reporting is to clearly communicate the constraints imposed upon resources in governmental funds. The fund balance classifications indicate the level of constraints placed upon how resources can be spent and identify the sources of those constraints. The following five classifications: non-spendable, restricted, committed, assigned, and unassigned, serve to inform readers of the financial statements of the extent to which the County is bound to honor constraints on the specific purposes for which resources in a fund can be spent. Fund balances of governmental type funds are classified as follows: Non-spendable —Include amounts that cannot be spent because they are either not in spendable form, or for legal or contractual reasons, must be kept intact. This classification includes inventory. Restricted — Include amounts that can be spent only for specific purposes because of constitutional provisions or enabling legislation, or because of constraints externally imposed by creditors, grantors, contributors or the laws or regulations of other governments. Committed — Include amounts that can be used only for the specific purposes determined by a formal action in the form of a resolution of the Board of County Commissioners, the County's highest level of decision-making authority. Commitments may be changed or lifted only by the Board taking the same formal action that imposed the constraint originally. Assigned — Include amounts intended by the Board to be used for specific purposes determined by a formal action in the form of a resolution but are neither restricted nor committed. The Board's fund balance policy authorizes the County Administrator to assign fund balance based on intentions for use of fund balance communicated by the Board. Unassigned — The residual classification of the General Fund. Only the General Fund reports a positive unassigned fund balance. Other governmental funds might report a negative balance in this classification, as the result of overspending for specific purposes for which amounts had been restricted, committed, or assigned. Unassigned fund balance does not necessarily represent the amount of fund balance that can be appropriated. The Board has the responsibility of responding to emergency disaster and has committed $10 million in the General Fund's disaster reserve funds to ensure adequate cash flow is available in post-disaster situations. The Board's policy on unassigned general fund balance is to achieve and maintain an unassigned General Fund balance equal to four months of budgeted expenditures. The Board considers a balance of less than four months to be a cause for concern, barring unusual or deliberate circumstances, and a balance of more than six months as excessive. Since this is a plan for accumulating resources rather than a limitation on how existing resources can be spent, the fund balance policy does not affect the classification of fund balance and is included in the unassigned fund balance. F-12 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) The County spends restricted amounts first, when both restricted and unrestricted fund balance is available, unless prohibited by legal documents, grant agreements or contracts. Additionally, the County uses committed fund balance, followed by assigned fund balance and then unassigned fund balance when expenditures are incurred for purposes for which amounts in any of the unrestricted fund balance classifications could be used. Fund Deficits: The County reported one fund with a deficit at September 30, 2018: ($6,491,420) in the Sheriffs Grants Fund. On September 10, 2017, the County experienced a damaging hurricane. The hurricane's recovery efforts resulted in the reported fund deficit because the County did not receive reimbursement for state and federal disaster aid by September 30, 2018. The Supervisor's Voter Education & Equipment, a nonmajor special revenue fund, does not have legally adopted budget. Net Position: Net position in the proprietary fund financial statements is classified as net investment in capital assets; restricted and unrestricted. Restricted net position of $7,078,684 indicates constraints on resources that are either externally imposed by creditors, grantors, contributors, or laws or regulations of other governments or imposed by law through state statute. New Accounting Pronouncement: Effective October 1, 2017, the Board adopted the provisions of GASB Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions. This statement established standards for measuring and recognizing liabilities, deferred inflows and outflows of resources, and expenses for OPEB liabilities; modified certain disclosures in the notes to financial statements; and changed required supplementary information. The beginning balances of deferred outflows and deferred inflows were not reflected in the restated October 1, 2017 net positions, since it was not practical to determine such balances. Note 22 details the restatement of the beginning net position for the Board's business-type and internal service funds. NOTE 2 —CASH, CASH EQUIVALENTS,AND INVESTMENTS The County maintains a cash and investment pool available for use by all funds except those whose cash and investments must be segregated due to bond covenants or other legal restrictions. As of September 30, 2018, the carrying value of the County's deposits and investments, with their respective credit ratings, are as follows: F-13 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 2 —CASH, CASH EQUIVALENTS,AND INVESTMENTS (continued) Credit Valuation Less than 6 6 Months to 1 Investment Type Rating Measurement Method Fair Value Months Year 1 to 3 Years Demand and Time Deposits N/A N/A $ 118,641,106 $ 118,641,106 $ $ Local Gov't Surplus Fund Unrated Amortized Cost 161,257 161,257 Equity Securities N/A Fair Value-Level 1 11,777 11,777 Municipal Bonds AA-to AAA Fair Value-Level 2 4,420,315 - 159,518 4,260,797 US Treasury Notes AA+ Fair Value-Level 78,288,540 51,124,155 10,302,431 16,861,954 US Treasury Bills A-1+ Fair Value-Level 2 18,297,375 18,297,375 - - Federal Agency Bond/Note AA+ Fair Value-Level 2 53,781,483 12,952,665 24,180,168 16,648,650 ELITE&FEIT Term AAA Fair Value-Level 2 20,796,711 4,696,711 13,800,000 2,300,000 Total Fair Value $ 294,398,564 $ 205,885,046 $ 48,442,117 $ 40,071,401 The Board categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. Level 1 securities are valued using direct observable unadjusted quoted prices in active markets for identical assets. Level 2 securities are valued using a pricing methodology that uses evaluation models, such as matrix pricing, to value securities based on a security's relationship to benchmark quoted prices. Level 3 securities are priced by an alternative pricing source utilizing discounted cash flow models and broker bids or may have an estimated fair value equal to cost, due to the absence of an independent pricing source. Credit Risk: The County's Investment Policy (Policy) limits credit risk by restricting authorized investments to the following: Florida Local Government Surplus Funds Trust Fund Investment Pool administered by Florida's State Board of Administration, direct obligations of the United States or its agencies and instrumentalities, money market mutual funds and Intergovernmental Investment Pools authorized by the Florida Statutes. The Policy requires that investments in federal instrumentality debt be guaranteed by the full faith and credit of the U.S. Government sponsored agency, and that investments in money market mutual funds have a rating of AAAm or AAAm-G or better by Standard & Poor's (S&P) or other nationally recognized rating agency. All credit ratings indicated in the previous table are S&P ratings. Concentration of Credit Risk: The Policy establishes limitations on portfolio composition, both by investment type and by issuer, in order to control concentration of credit risk. The Policy provides the following maximum limits of the portfolio, with limits in any one issuer of the portfolio invested: F-14 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 2 —CASH, CASH EQUIVALENTS,AND INVESTMENTS (continued) Portfolio Investment Type Maximum Maximum in Any One Issuer United States Treasury Securities 100% N/A United States Government Agencies 50% 10% Federal Instrumentalities Maximum in callable securities 80% 30%,with a maximum of 25% in callable securities Interest-bearing Time Deposit or Savings Accounts 10% 10% Money Market Mutual Funds 20% 10% Intergovernmental Investment Pool 10% N/A At September 30, 2018, the portion of the County's investment portfolio invested in Federal instrumentalities is detailed as follows: Percent of Investment Issue Portfolio Federal Home Loan Bank(FHLB) 8.61% Federal National Mortgage Association (FNMA) 14.44% Federal Home Loan Mortgage Corporation (FHLMC) 8.37% Custodial Credit Risk: The Policy requires bank deposits secured as provided by Chapter 280, Florida Statutes. This law requires local governments to deposit funds only in financial institutions designated as qualified public depositories by the Chief Financial Officer of the State of Florida. Demand and time deposits are fully insured by the FDIC for the first $250,000 at each institution and the remaining balances are insured 100% by the State of Florida collateral pool, a multiple institution pool with the ability to assess its members for collateral shortfalls if a member institution fails. The Policy requires execution of a third-party custodial safekeeping agreement for all purchased securities and requires that securities be held in the County's name. As of September 30, 2018, all of the County's investments are held in a bank's trust department in the County's name. Interest Rate Risk: The Policy limits the investment of three months of operating expenditures to twelve months. The Policy limits the investment of noncurrent operating funds to five years. F-15 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 2 —CASH, CASH EQUIVALENTS,AND INVESTMENTS (continued) Restricted Cash and Cash Equivalents: The County has the following unrestricted and restricted cash and cash equivalents at September 30, 2018: Demand Cash & Cash Equivalents Deposits Governmental Activities Governmental Funds $ 96,328,286 Internal Service Funds 5,378,225 Business-Type Activities 10,127,473 Total Unrestricted Cash & Cash Equivalents 111,833,984 Restricted Cash & Cash Equivalents Business-Type Activities 6,807,122 Total Cash & Cash Equivalents $118,641,106 In the Sheriff's 911 Wireless Fund, cash in the amount of$1,350,165 must be maintained in a separate account according to statute. This cash can only be used for capital expenditures directly attributable to establishing and provisioning E911 services, which may include next generation development. As of September 30, 2018, the fiduciary funds had cash balances totaling $9,032,719 in demand deposits. NOTE 3 —RESTRICTED ASSETS Restricted assets in the Enterprise Funds include those assets created by resolutions adopted by the County for airport passenger facility charges and customs service operations. Total restricted assets as of September 30, 2018 are as follows: Cash and Cash Accounts Equivalents Receivable Total Key West Airport Passenger Facility Charges $6,645,043 $ 271,562 $6,916,605 Marathon Airport Customs Service Operations 162,079 - 162,079 $6,807,122 $ 271,562 $7,078,684 F-16 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 4 —ACCOUNTS RECEIVABLE Accounts receivable, in the accompanying fund financial statements, are shown net of the allowance for doubtful accounts. The accounts receivable and the allowance balances are as follows: Allowance for Accounts Uncollectible Accounts Service Provided Receivable Accounts Receivable,Net Governmental Activities: General Fund Misc $ 140,153 $ - $ 140,153 Fine and Forfeiture Fund Air Amb Svc 22,106,625 21,056,190 1,050,435 HIDTA Grants Misc 931 - 931 Governmental Grants Misc 11 - 11 Nonmajor Funds: Fire and Amb Dist 1 Fund Ground Amb Svc 2,212,181 2,183,628 28,553 Other Nonmajor Funds Misc 41,877 - 41,877 Internal Service Funds Misc 51,012 - 51,012 Total Governmental Activities 24,552,790 23,239,818 1,312,972 Business-Type Activities: MSD -Waste Fund: Tipping Fees 218,001 22,321 195,680 Waste Assessments 8,139 7,326 813 Solid Waste Franchise 406 - 406 Key West Airport Rent,Misc 698,152 - 698,152 Marathon Airport Misc 34,450 - 34,450 Total Business-Type Activities 959,148 29,647 929,501 Total Accounts Receivable $ 25,511,938 $ 23,269,465 $ 2,242,473 The Board of County Commissioners voted to approve air and ground ambulance billing write-offs of $2,031,463 and $279,376, respectively, for fiscal year 2018. NOTE 5 —ASSESSMENTS RECEIVABLE The County has been improving water quality by replacing cesspits and septic systems with a series of central wastewater collection and treatment systems. The County has funded these projects with state grants and loans, local infrastructure sales surtax, and special assessments levied on the property owners. F-17 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 5 —ASSESSMENTS RECEIVABLE (continued) The property owners have the option of paying their special assessments up front or on an installment basis added to their real estate tax bills. Revenue is recognized on the modified accrual basis. In the governmental fund balance sheet, any remaining assessment owed is recorded as a receivable with an offset to unavailable revenue (deferred inflows of resources) for those amounts that are not available. NOTE 6—MORTGAGES RECEIVABLE Mortgages receivable at September 30, 2018 consist of the following: Major Governmental Funds —Governmental Grants Fund: Second Mortgages Receivable from individuals, collateralized by personal residences. Payment of principal deferred for ten (10) years from date of note. Principal is amortized in equal monthly amounts starting in year six (6)until ten (10) at which time the loan is fully forgiven. In event of sale/transfer of property or occupancy, the prorated principal balance is due in full within thirty (30) days of sale/transfer or cessation of primary residence. $ 540,150 Nonmajor Governmental Funds —Local Housing Assistance: Second Mortgages Receivable from individuals, collateralized by personal residences. Commencing in year sixteen of the mortgage, principal and accrued interest at 3% will be forgiven at the rate of 6.66% annually. The entire principal balance and accrued interest will be forgiven at the end of year thirty. If the residence is sold before the initiation of the forgiveness period, the full amount of the mortgage and accrued interest is due at closing. 24,778 Second Mortgages Receivable from individuals, collateralized by personal residences. Principal payments shall be deferred for the term of the first mortgage loan, or until the date the last payment is due on the first mortgage. Interest is not charged on the mortgages unless the mortgagor is in default, in which case the interest rate is 12% per annum from the date when payment of the second is due. The entire balance of the loan is intended to be forgiven. However, in the event the home is sold, transferred, rented, refinanced or the first mortgage loan is satisfied, the entire mortgage balance is due. 7,254,902 Second Mortgages Receivable from individuals, collateralized by personal residences. The entire balance of the mortgages will be forgiven upon maturity, provided that the mortgagor complies with the mortgage covenants. The mortgages are interest free. 452,248 F-18 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 6—MORTGAGES RECEIVABLE (continued) Second Mortgages Receivable from individuals, collateralized by personal residences. The entire balance of the mortgages will be forgiven over ten, fifteen or twenty years,provided that the mortgagor complies with the mortgage covenants. The mortgages are interest free. 22,142 Florida Homebuyer Opportunity Tax Credit (FHOP), Second Mortgages Receivable from individuals, collateralized by personal residences. Interest is 6%per annum, except if paid in full within first 18 months of repayment period then interest rate shall be 0% from the date when the first payment is due. 16,000 Second Mortgages Receivable from individuals, collateralized by personal residences. The entire balance of the mortgages will be forgiven upon maturity, provided that the mortgagor complies with the mortgage covenants. The mortgages are interest free. 400,533 Total Nonmajor Governmental Funds-Local Housing Assistance 8,170,603 Total Mortgages Receivable $8,710,753 The mortgages receivable associated with the governmental grants are offset by an allowance for uncollectible accounts of $540,150. As the mortgages receivable associated with the Local Housing Assistance fund are intended to ultimately be forgiven, an allowance for uncollectible accounts of $8,170,603 has been established. NOTE 7—CAPITAL ASSETS Internal service fund capital asset information is included in the governmental activities on the government-wide financial statements, because the internal service funds predominately serve those activities. On September 10, 2017, Monroe County sustained catastrophic damage county-wide due to a direct hit from Hurricane Irma. As a result, a number of the County's assets sustained storm-related damage. Throughout FY 2018, repairs and replacements were being made to damaged assets in accordance with guidelines established by the Federal Emergency Management Agency (FEMA). Most repairs and replacements will be financed with reimbursements from FEMA or insurance recoveries. F-19 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 7—CAPITAL ASSETS (continued) Capital asset activity for the year ended September 30, 2018 is as follows: Beginning Ending Balance Additions Reductions Balance Governmental Activities: Capital assets not depreciated: Land $ 75,624,443 $ 1,674,218 $ - $ 77,298,661 Construction in progress 63,564,865 21,636,727 (50,372,700) 34,828,892 Total capital assets not depreciated 139,189,308 23,310,945 (50,372,700) 112,127,553 Capital assets depreciated: Buildings 165,659,965 1,845,599 - 167,505,564 Equipment 81,787,756 7,900,871 (2,129,703) 87,558,921 Infrastructure 284,686,200 45,638,841 (96,028) 330,229,013 Capacity rights 3,150,000 - - 3,150,000 Total assets depreciated 535,283,921 55,385,311 (2,225,731) 588,443,498 Less accumulated depreciation for: Buildings (65,906,571) (3,482,933) - (69,389,504) Equipment (50,901,935) (5,643,118) 1,858,113 (54,686,940) Infrastructure (42,165,631) (6,550,342) - (48,715,973) Capacity rights (413,634) (31,818) - (445,452) Total accumulated depreciation (159,387,771) $(15,708,211) $ 1,858,113 (173,237,869) Total capital assets depreciated,net 375,896,150 415,205,632 Governmental funds,capital assets,net $ 515,085,458 $ 527,333,185 Business-Type Activities: Capital assets not depreciated: Land $ 5,647,606 $ - $ - $ 5,647,606 Construction in progress 8,571,723 23,191,975 (16,955,839) 14,807,859 Total capital assets not depreciated 14,219,329 23,191,975 (16,955,839) 20,455,465 Capital assets depreciated: Land improvements 212,925 - - 212,925 Buildings 58,849,371 3,450,022 - 62,299,393 Equipment 5,194,297 1,117,776 (388,265) 5,923,808 Infrastructure 56,437,327 13,551,792 - 69,989,119 Total assets depreciated 120,693,920 18,119,590 (388,265) 138,425,245 Less accumulated depreciation for: Land Improvements (212,925) - - (212,925) Buildings (16,817,880) (1,499,902) - (18,317,782) Equipment (3,730,721) (430,307) 387,862 (3,773,166) Infrastructure (25,232,949) (1,662,506) - (26,895,455) Total accumulated depreciation (45,994,475) $ (3,592,715) $ 387,862 (49,199,328) Total capital assets depreciated,net 74,699,445 89,225,917 Business-type activities,capital assets,net $ 88,918,774 $ 109,681,382 F-20 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 7—CAPITAL ASSETS (continued) Depreciation was charged to functions/programs on the government-wide statement of activities of the County as follows: Governmental Activities: Business-Type Activities: General Government $ 2,011,519 Municipal Service District-Waste $ 115,948 Public Safety 5,601,727 Card Sound Bridge 326,126 Physical Environment 4,913,541 Key West Airport 2,494,910 Transportation 979,269 Marathon Airport 655,731 Economic Environment 925,006 Human Services 212,877 Total Business-Type Activities $3,592,715 Culture and Recreation 381,916 Court-Related 682,356 Total Governmental Activities $15,708,211 NOTE 8 —POST EMPLOYMENT BENEFITS OTHER THAN PENSION General Information about the Other Post-Employment Benefits: Plan Description — The Board administers a single-employer defined benefits healthcare plan (the "Plan"). Section 112.0801, Florida Statutes, 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, prescription drug benefits, and life insurance to both active and eligible retired employees. The Plan does not issue a publicly available financial report. No assets are accumulated in a trust that meets the criteria as set forth in GASB Statement No. 75. The Board 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 Board approves the rates for the coming calendar year for the retiree and County contributions. The Plan includes participants from the Board, each Constitutional Officer, and the MCLA. The Board is responsible for funding all obligations not funded on a pay-as-you-go basis by Constitutional Officers or the MCLA. However, the following disclosures are based only on the Board's and the Constitutional Officers' (the County's) share of the net Other Post-Employment Benefits (OPEB) obligation since the MCLA's discrete financial statements reports its share of OPEB obligation. F-21 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 8 —POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued) Benefits Provided — Employees who retire as active participants 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 Board. Employees who retire as active participants 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) but are not eligible for Medicare, may maintain group insurance benefits with the County following retirement, provided that the retiring employee contributes the amounts as shown in the following table. Contribution as Percentage of Annual Actuarial Rate Plan Years of Service with Monroe Count Year 25+ 20-24 10-19 2018 HISO) 17% 18% 2019 HIS 18% 26% 2020 HIS 20% 34% 2021 HIS 22% 42% 2022 HIS 25% 50% (1)Participation in the Plan is at a cost equal to the FRS Health Insurance Subsidy (HIS) for ten years of service (currently $5 per month for each year of service credit at retirement with a minimum HIS payment of$30 and a maximum HIS payment of$150 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 based on the preceding table. Surviving spouses and dependents of participating retirees may continue in the Plan if eligibility criteria specific to those classes are met. An employee who retires as an active participant in the Plan, was hired prior to October 1, 2001, has at least ten years of full-time service with the County, and meets the retirement criteria of the FRS and is eligible for Medicare at the time of retirement or becomes eligible for Medicare following retirement, may maintain group health insurance benefits with the County following retirement, provided the retiring employee contributes the Actuarial Rate for Medicare retirees as determined by the actuarial firm engaged by the County, less a $250 per month County subsidy. Alternatively, retirees meeting these criteria may elect to leave the County health plan and receive a $250 per month payment from the County,payable for the lifetime of the retiree. Employees Covered by Benefit Terms — Eligibility for post-employment participation in the Plan is limited to full time employees of the County and the Constitutional Officers. At September 30, 2018, there were no terminated employees entitled to deferred benefits. The membership of the Board's medical plan consisted of: Active Employees 1,244 Retirees and Beneficiaries Currently Receiving Benefits 422 Total Membership 1,666 F-22 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 8 —POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued) Contributions —The Board establishes, and may amend, the contribution requirements of Plan members. The required contribution is based on pay-as-you-go financing requirements, net of member contributions. Total OPEB Liability: The County's total OPEB liability of $38,446,074 was measured as of September 30, 2018, and was determined by an actuarial evaluation as of March 4, 2019. Actuarial Methods and Assumptions — The valuation dated March 4, 2019, as of September 30, 2018, was prepared using generally accepted actuarial principles and practices, and relied on unaudited census data and medical claims data reported by the Board. The total OPEB liability for the Board in the September 30, 2018 actuarial valuation was determined using the following actuarial assumptions and other inputs, applied to all periods included in the measurement, unless otherwise specified: Actuarial Cost Method Entry Age Normal based on level of percentage of projected salary. Inflation Rate 3.0%per annum Salary Increase Rate 3.5%per annum Discount Rate 3.63%per annum (Beginning of Year) 4.18%per annum (End of Year) Source: Bond Buyer 20-Bond GO index Medical Consumer Price Index Trend 3.0%per annum Marriage Rate The assumed number of eligible dependents was based on the current proportions of single and family contracts in the census provided by the Board. Spouse Age Spouse dates of birth were provided by the County. Where this information was missing, male spouses were assumed to be three years older than female spouses. Medicare Eligibility All current and future retirees were assumed to be eligible for Medicare at age 65. Amortization Method Experience/Assumptions gains and losses were amortized over a closed period of 11.0 years starting on October 1, 2017, equal to the average remaining service of active and inactive plan members (who have no future service). F-23 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 8 —POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued) The actuarial assumptions include an annual health care cost trend rate of 7.0% initially, reduced by decrements of 0.5% to an ultimate rate of 4.5%. The assumptions included a discount rate tied to the return expected on the funds used to pay the benefits, and assumes for an unfunded plan, that the benefits continue to be funded on a pay-as-you-go basis. Mortality rates were based on the RP-2014 generational table scaled using MP-17 and applied on a gender-specific basis. Changes in the Total OPEB Liability: Total OPEB Liability Balance at the beginning of the year $ 67,941,155 Changes for the year: Service cost 1,816,609 Interest cost 2,885,151 Changes of benefit terms on January 1, 2018 (29,384,495) Changes in assumptions or other inputs (3,342,817) Benefit payments (1,469,529) Net change in total OPEB liability (29 495,081) Balance at the end of the year $ 38,446,074 Effective January 1, 2018, the Board implemented cost-saving benefit changes for the Plan. The changes included using premium rates that were calculated based on expected retiree costs for Medicare retirees and lower premium subsidies for eligible retirees. The impact of these changes is reflected in the total OPEB expense. Changes of assumptions included updating the mortality to be a generational table with updated projection scales released by the Society of Actuaries, an interest rate using 20-year bond rates and a change in Actuarial Cost methodology to the Entry Age Normal. The assumptions of changes, other than the change in the discount rate, are not reflected in the above schedule of changes in the total OPEB liability because they were reflected as a liability in the prior year. Sensitivity of the total OPEB liability to changes in the discount rate — The following presents the total OPEB liability of the Board, as well as what the Board's total OPEB liability would be if it were calculated using a discount rate that is 1-percentage-point lower (3.18 percent) or 1-percentage-point higher(5.18 percent) than the current discount rate: Current Discount 1% Decrease Rate 1% Increase (318%) (418%) (518%) Total OPEB Liability $34,659,000 $38,446,074 $42,883,000 F-24 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 8 —POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued) Sensitivity of the total OPEB liability to changes in the healthcare cost trend rates — The following presents the total OPEB liability of the County, as well as what the County's total OPEB liability would be if it were calculated using a healthcare cost trend rates that are 1-percentage-point lower (6 percent decreasing to 3.5 percent) or 1-percentage-point higher (8 percent decreasing to 5.5 percent) than the current healthcare cost trend rates: Healthcare Cost Trend Rates 1% Decrease Current Trend 1% Increase (6%decreasing to 3.5%) (7%decreasing to 4.5%) (8%decreasing to 5.5%) Total OPEB Liability $35,777,000 $38,446,074 $41,992,000 OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB: For the year ended September 30, 2018, the County recognized negative OPEB expense of$25,380,418. At September 30, 2018, the County reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources: Deferred Deferred Outflows of Inflows of Resources Resources Differences Between Expected and Actual Experience $ - $ - Changes of Assumptions or Other Inputs - (6,535,326) Net Difference Between Projected and Actual Investments - - Total $ - $ (6,535,326) The amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows: OPEB For Fiscal Year: Amount 2019 $ (694,054) 2020 (694,054) 2021 (694,054) 2022 (694,054) 2023 (694,054) Thereafter (3,065,056) Total $ (6,535,326) F-25 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 9 —FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS General Information: The County's employees participate in the Florida Retirement System (FRS). As provided by Chapters 121 and 112, Florida Statutes, the FRS provides two cost sharing, multiple employer defined benefit plans administered by the Florida Department of Management Services, Division of Retirement, including the FRS Pension Plan (Pension Plan) and the Retiree Health Insurance Subsidy (HIS Plan). Under Section 121.4501, Florida Statutes, the FRS also provides a defined contribution plan (Investment Plan) alternative to the FRS Pension Plan, which is administered by the State Board of Administration (SBA). 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 State Legislature. 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, P.O. Box 9000, Tallahassee, Florida 32315-9000, or from the Web site: www.dms.myflorida.com/workforce_operations/retirement/publications. Pension Plan: Plan Description — The Pension Plan is a cost-sharing multiple-employer defined benefit pension plan, with a Deferred Retirement Option Program (DROP) for eligible employees. Benefits Provided — 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. Special Risk Administrative Support class members who retire at or after age 55 with at least six years of credited service or 25 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. Special Risk class members (sworn law enforcement officers, firefighters, and correctional officers) who retire at or after age 55 with at least six 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 based on the five highest years of salary for each year of credited service. F-26 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 9 —FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) 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% (3.33% for judges and justices) of their final average compensation based on the five highest years of salary for each year of credited service. For Plan members enrolled on or after July 1, 2011, the vesting requirement is extended to eight years of credited service for all these members and increasing normal retirement to age 65 or 33 years of service regardless of age for Regular, Senior Management Service, and Elected Officers' class members, and to age 60 or 30 years of service regardless of age for Special Risk and Special Risk Administrative Support class members. Also, the final average compensation for all these members will be based on the eight highest years of salary. As provided in Section 121.101, Florida Statutes, if the member is initially enrolled in the Pension Plan before July 1, 2011, and all service credit was accrued before July 1, 2011, the annual cost-of- living adjustment is three percent per year. If the member is initially enrolled before July 1, 2011, and has service credit on or after July 1, 2011, there is an individually calculated cost-of-living adjustment. The annual cost-of-living adjustment is a proportion of three percent determined by dividing the sum of the pre-July 2011 service credit by the total service credit at retirement multiplied by three percent. Plan members initially enrolled on or after July 1, 2011, will not have a cost-of-living adjustment after retirement. In addition to the above benefits, the DROP program allows eligible members 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. There are no required contributions by DROP participants. Contributions —Effective July 1, 2011, all enrolled members of the FRS, other than DROP participants, are required to contribute three percent 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 established by the Florida Legislature. These rates are updated as of July 1 of each year. The employer contribution rates by job class for the periods from October 1, 2017 through June 30, 2018 and from July 1, 2018 through September 30, 2018, respectively, were as follows: Regular7.92% and 8.26%; Special Risk Administrative Support34.63% and 34.98%; Special Risk23.27% and 24.50%; Senior Management Service22.71% and 24.06%; Elected Officers' 45.50% and 48.70%; and DROP participants13.26% and 14.03%. These employer contribution rates include 1.66% and 1.66% HIS Plan subsidy for the periods October 1, 2017 through June 30, 2018 and from July 1, 2018 through September 30, 2018, respectively. F-27 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 9 —FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) The County's contributions, including employee contributions, to the Pension Plan totaled $10,239,483 for the fiscal year ended September 30, 2018. Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions —At September 30, 2018, the County reported a liability of$104,988,478 for its proportionate share of the Pension Plan's net pension liability. The net pension liability was measured as of June 30, 2018, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of July 1, 2018. The County's proportionate share of the net pension liability was based on the County's FY 2018 contributions relative to the FY 2018 contributions of all participating members. At June 30, 2018, the County's proportionate share for all funds was 0.3485 percent, which was an increase of 0.02052 percent from its proportionate share measured as of June 30, 2017. The contributions made after the measurement date of the Pension Plan's net pension liability but before the end of the County's fiscal year will be recognized as a reduction of the Pension Plan's net pension liability in the subsequent fiscal period rather than in the current fiscal period. For the fiscal year ended September 30, 2018, the County recognized pension expense of $18,597,139. In addition, the County reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: FRS Pension Deferred Deferred Outflows of Inflows of Resources Resources Differences Between Expected and Actual Experience $ 8,894,221 $ 322,814 Changes of Assumptions 34,305,128 - Net Difference Between Projected and Actual Earnings on Pension Plan Investments - 8,111,640 Changes in Proportion and Differences Between Pension Plan Contributions and Proportionate Share of Contributions 6,207,815 1,534,878 Pension Plan Contributions Subsequent to the Measurement Date 2,528,084 - Total $ 51,935,248 $ 9,969,332 The deferred outflows of resources related to the Pension Plan $2,528,084, resulting from County contributions to the Plan subsequent to the measurement date, will be recognized as a reduction of the net pension liability in the fiscal year ended September 30, 2019. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to the Pension Plan will be recognized in pension expense as follows: F-28 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 9 —FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) FRS For Fiscal Year: Amount 2019 $ 15,279,830 2020 10,427,848 2021 1,453,948 2022 6,943,582 2023 4,642,888 Thereafter 689,617 Total $ 39,437,713 Actuarial Assumptions — The total pension liability in the June 30, 2018 actuarial valuation was determined using the following actuarial assumption, applied to all periods included in the measurement: Inflation 2.60% Salary increases 3.25%, average, including inflation Investment rate of return 7.00%, net of pension plan investment expense, including inflation Mortality rates were based on the Generational RP-2000 with Projection Scale BB tables. The actuarial assumptions used in the July 1, 2018, valuation were based on the results of an actuarial experience study for the period July 1, 2008 through June 30, 2013. The long-term expected rate of return decreased from 7.10% to 7.00%, and the active member mortality assumption was updated. The long-term expected rate of return on Pension Plan investments was not based on historical returns, but instead is based on a forward-looking capital market economic model. The allocation policy's description of each asset class was used to map the target allocation to the asset classes shown below. Each asset class assumption is based on a consistent set of underlying assumptions and includes an adjustment for the inflation assumption. The target allocation and best estimates of arithmetic and geometric real rates of return for each major asset class are summarized in the following table: F-29 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 9 —FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) Compound Annual Annual Target Arithmetic (Geometric) Standard Asset Class Allocation Return Return Deviation Cash 1.0% 2.9% 2.9% 1.8% Fixed Income 18.0% 4.4% 4.3% 4.0% Global Equity 54.0% 7.6% 6.3% 17.0% Real Estate (Property) 11.0% 6.6% 6.0% 11.3% Private Equity 10.0% 10.7% 7.8% 26.5% Strategic Investments 6.0% 6.0% 5.7% 8.6% Total 100.0% Discount Rate — The discount rate used to measure the total pension liability was 7.00%. The Pension Plan's fiduciary net position was projected to be available to make all projected future benefit payments of current active and inactive employees. Therefore, the discount rate for calculation of the total pension liability is equal to the long-term expected rate of return. Sensitivity of the County's Proportionate Share of the Net Position Liability to Changes in the Discount Rate — The following represents the County's proportionate share of the net pension liability calculated using the discount rate of 7.00%, as well as what the proportionate share of the net pension liability would be if it were calculated using a discount rate that is one percentage point lower (6.00%) or one percentage point higher(8.00%) than the current rate: FRS Net Pension Liability Current Discount 1% Decrease Rate 1% Increase (6.00%) (7.00%) (8.00%) Enterprise and Internal Service Funds Proportionate Share of the Net Pension Plan Liability $ 191,608,377 $ 104,988,478 $ 33,045,532 Pension Plan Fiduciary Net Position — Detailed information regarding the Pension Plan's fiduciary net position is available in the separately issued FRS Pension Plan and Other State-Administered Systems Comprehensive Annual Financial Report. F-30 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 9 —FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) HIS Plan: Plan Description — The HIS Plan is a cost-sharing multiple-employer defined benefit pension plan established under Section 112.363, Florida Statutes, and may be amended by the Florida legislature at any time. The benefit is a monthly payment to assist retirees of State-administered retirement systems in paying their health insurance costs and is administered by the Florida Department of Management Services, Division of Retirement. Benefits Provided — For the fiscal year ended September 30, 2018, eligible retirees and beneficiaries received a monthly HIS payment of $5 for each year of creditable service completed at the time of retirement, with a minimum HIS payment of$30 and a maximum HIS payment of$150 per month. To be eligible to receive these benefits, a retiree under a State-administered retirement system must provide proof of health insurance coverage, which may include Medicare. Contributions — The HIS Plan is funded by required contributions from FRS participating employers as set by the Florida Legislature. Employer contributions are a percentage of gross compensation for all active FRS members. For the fiscal year ended September 30, 2018, the HIS contribution for the period October 1, 2017 through June 30, 2018 and from July 1, 2018 through September 30, 2018 was 1.66% and 1.66%, respectively. The County contributed 100% of its statutorily required contributions for the current and preceding three years. HIS Plan contributions are deposited in a separate trust fund from which payments are authorized. HIS Plan benefits are not guaranteed and are subject to annual legislative appropriation. In the event legislative appropriation or available funds fail to provide full subsidy benefits to all participants, benefits may be reduced or cancelled. The County's contributions to the HIS Plan totaled $1,399,460 for the fiscal year ended September 30, 2018. Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions —At September 30, 2018, the County reported a liability of$26,900,511 for their proportionate share of the County's HIS Plan's net pension liability. The net pension liability was measured as of June 30, 2018, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of July 1, 2018. The County's proportionate share of the net pension liability was based on the County's FY 2018 contributions relative to the FY 2018 contributions of all participating members. At June 30, 2018, the County's proportionate share of all funds was 0.2542 percent, which was an increase of 0.01748 percent from its proportionate share measured as of June 30, 2017. The contributions made after the measurement date of the HIS Plan's net pension liability but before the end of the County's fiscal year will be recognized as a reduction of the HIS Plan's net pension liability in the subsequent fiscal period rather than in the current fiscal period. For the fiscal year ended September 30, 2018, the County recognized pension expense of$2,314,187. In addition, these activities reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: F-31 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 9 —FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) HIS Pension Deferred Deferred Outflows of Inflows of Resources Resources Differences Between Expected and Actual Experience $ 411,835 $ 45,703 Changes of Assumptions 2,991,669 2,844,147 Net Difference Between Projected and Actual Earnings on HIS Plan Investments 16,238 - Changes in Proportion and Differences Between HIS Plan Contributions and Proportionate Share of Contributions 2,357,697 379,743 HIS Plan Contributions Subsequent to the Measurement Date 337,457 - Total $ 6,114,896 $ 3,269,593 The deferred outflows of resources related to the HIS Plan, totaling $337,457, resulting from County contributions to the HIS Plan subsequent to the measurement date, will be recognized as a reduction of the net pension liability in the fiscal year ended September 30, 2019. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to the HIS Plan will be recognized as pension expense in the enterprise and internal service funds as follows: HIS For Fiscal Year: Amount 2019 $ 1,751,527 2020 1,745,048 2021 1,222,525 2022 274,585 2023 (1,704,423) Thereafter (781,416) Total $ 2,507,846 Actuarial Assumptions — The total pension liability in the July 1, 2018, actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the measurement: Inflation 2.60% Salary increases 3.25%, average, including inflation Municipal bond rate 3.87% Mortality rates were based on the Generational RP-2000 with Projection Scale BB tables. F-32 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 9 —FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) The actuarial assumptions used in the July 1, 2018, valuation were based on the results of an actuarial experience study for the period July 1, 2008 through June 30, 2013. The municipal rate used to determine total pension liability increased from 3.58% to 3.87%. Discount Rate —The discount rate used to measure the total pension liability was 3.87%. In general, the discount rate for calculating the total pension liability is equal to the single rate equivalent to discounting at the long-term expected rate of return for benefit payments prior to the projected depletion date. Because the HIS benefit is essentially funded on a pay-as-you-go basis, the depletion date is considered to be immediate, and the single equivalent discount rate is equal to the municipal bond rate selected by the HIS Plan sponsor. The Bond Buyer General Obligation 20-Bond Municipal Bond Index was adopted as the applicable municipal bond index. Sensitivity of the County's Proportionate Share of the Net Position Liability to Changes in the Discount Rate — The following represents the County's enterprise and internal service funds proportionate share of the net pension liability calculated using the discount rate of 3.87%, as well as what the proportionate share of the net pension liability would be if it were calculated using a discount rate that is one percentage point lower(2.87%) or one percentage point higher(4.87%) than the current rate: HIS Net Pension Liability Current Discount 1% Decrease Rate 1% Increase (2.87%) (3.87%) (4.87%) Enterprise and Internal Service Funds Proportionate Share of the Net HIS Plan Liability $ 30,638,106 $ 26,900,511 $ 23,785,009 Pension Plan Fiduciary Net Position — Detailed information regarding the HIS Plan's fiduciary net position is available in the separately issued FRS Pension Plan and Other State-Administered Systems Comprehensive Annual Financial Report. Investment Plan: The SBA administers the defined contribution plan officially titled the FRS Investment Plan. The Investment Plan is reported in the SBA's annual financial statements and in the State of Florida Comprehensive Annual Financial Report. F-33 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 9 —FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) As provided in Section 121.4501, Florida Statutes, eligible FRS members may elect to participate in the Investment Plan in lieu of the FRS defined benefit plan. County employees participating in DROP are not eligible to participate in the Investment Plan. Employer and employee contributions, including amounts contributed to individual member's accounts, are defined by law, but the ultimate benefit depends in part on the performance of investment funds. Benefit terms, including contribution requirements, for the Investment Plan are established and may be amended by the Florida Legislature. The Investment Plan is funded with the same employer and employee contribution rates that are based on salary and membership class (Regular Class, Elected County Officers, etc.), as the Pension Plan. Contributions are directed to individual member accounts, and the individual members allocate contributions and account balances among various approved investment choices. Costs of administering the Investment Plan, including the FRS Financial Guidance Program, are funded through an employer contribution of 0.04% and 0.06% of payroll and by forfeited benefits of plan members for the periods October 1, 2017 through June 30, 2018 and from July 1, 2018 through September 30, 2018, respectively. Allocations to the investment member's accounts during the F Y 2018, as established by Section 121.72, Florida Statutes, are based on a percentage of gross compensation, by class, as follows: Regular class 6.30%, Special Risk Administrative Support class 7.95%, Special Risk class 14.00%, Senior Management Service class 7.67% and County Elected Officers class 11.34%. For all membership classes, employees are immediately vested in their own contributions and are vested after one year of service for employer contributions and investment earnings. If an accumulated benefit obligation for service credit originally earned under the Pension Plan is transferred to the Investment Plan, the member must have the years of service required for Pension Plan vesting (including the service credit represented by the transferred funds) to be vested for these funds and the earnings on the funds. Non-vested employer contributions are placed in a suspense account for up to five years. If the employee returns to FRS-covered employment within the five-year period, the employee will regain control over their account. If the employee does not return within the five-year period, the employee will forfeit the accumulated account balance. For the fiscal year ended September 30, 2018, the information for the amount of forfeitures was unavailable from the SBA; however, management believes that these amounts, if any, would be immaterial to the County. After termination and applying to receive benefits, the member may rollover vested funds to another qualified plan, structure a periodic payment under the Investment Plan, receive a lump sum distribution, leave the funds invested for future distribution, or any combination of these options. Disability coverage is provided; the member may either transfer the account balance to the Pension Plan when approved for disability retirement to receive guaranteed lifetime monthly benefits under the Pension Plan or remain in the Investment Plan and rely upon that account balance for retirement income. The County's Investment Plan pension expense totaled $1,836,558 for the fiscal year ended September 30, 2018. F-34 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES General Information about the Pension Plan: Plan Description —The Monroe County, Florida Volunteer Firefighter and Emergency Medical Services Length of Service Award Plan (LOSAP) is a single-employer public employee retirement system defined benefit pension plan created in 1999 and administered by the Board. LOSAP provides retirement and death benefits to plan members and beneficiaries. Monroe County Ordinance 026-1999 defines the authority under which contribution and benefit provisions may be amended. This authority is presently held by the Board. LOSAP shall be administered in accordance with the requirements of Chapter 112, Part VII, Florida Statutes. Benefits Provided — Only Volunteer Firefighters and EMS Volunteers (Volunteers) are eligible at the sole discretion of the Plan Administrator. Any Volunteer who was age 60 or older on January 1, 1999 shall not be eligible to participate. In addition, any Volunteers who are age 60 or older at the time they commence volunteer service, or who commence service at a time that will not permit them to earn ten years of service by their Normal Retirement Age, shall not be eligible to participate in this Plan. Volunteer Firefighters must attain the rank of Structural Firefighter, Non-Structural Firefighter and or Emergency Vehicle Driver-Operator prior to being credited with ten years of service. EMS Volunteers must meet all requirements as defined by the State of Florida necessary to drive an emergency medical care and transportation vehicle (ambulance) and/or attain certification as an Emergency Medical Technician or Paramedic prior to being credited with ten years of service. Eligibility for vesting is completion of ten years of service. The Plan shall be administered in accordance with the requirements of Chapter 112, Part VII, Florida Statutes. For each year of volunteer service, a participant will accrue a year of benefit accrual if the participant was enrolled as a member of the nonprofit corporation or municipal service taxing unit(MSTU) and was eligible for and received reimbursement of expenses for nine or more months of the year. Volunteers are vested after completion of ten years of service prior to attainment of normal retirement age. Eligible volunteers can receive an annual benefit of$1,800 for ten years of service up to $4,500 for 25 years of service. Employees Covered by Benefit Terms — LOSAP had 41 participants, of which 9 are active, 18 are inactive and 14 are retired members for the plan year ended December 31, 2018 and the County's fiscal year ending September 30, 2018. Separate, stand-alone financial statements for LOSAP are not provided. Contributions — Contributions and benefits are calculated based on years of service. As the participants are unpaid volunteers, there is no related covered payroll and no UALL as a percentage of covered payroll. F-35 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES (continued) For each Plan Year, the Board shall appropriate funds from the budgets of the various fire/rescue MSTU's. These funds will be applied as a contribution to the LOSAP trust account in an amount as determined by the Plan Administrator as is necessary to fund the accrued or prospective benefits for Participants on an actuarially sound basis and in accordance with Part VII of Chapter 112, Florida Statutes. There are no participant contribution requirements. The authority under which those obligations are established is the Monroe County Ordinance No. 026-1999. Net Pension Liability: The Board's net pension liability was measured as of January 1, 2018 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. Actuarial Assumptions — The significant actuarial assumptions used to compute the pension benefit obligation in the January 1, 2018 valuation for the period of January 1, 2017 through December 31, 2017 were: 1. Investment Yield: 1.0% for both present and future 2. Mortality Pattern: Not applicable 3. Salary increases: Not applicable; Benefits not based on salary 4. Termination: Godwin's Table 1, V Select & Ultimate Table, with 50% termination probability for YOS<1 5. Inflation: No increase as benefits are based on a flat amount per year of service The projection of cash flows used to determine the discount rate assumed that plan member contributions will be made at the applicable current contribution rates and that Board contribution will be made at rates equal to the difference between actuarially determined contributions and member contributions. Based on those assumptions, the fiduciary net position for the LOSAP pension plans was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on LOSAP's investments was applied to all periods of projected benefit payments to determine the total pension liability for each plan. Summary of Significant Accounting Policies — The financial statements of LOSAP are prepared using the modified accrual basis of accounting. The contributions are recognized when they become susceptible to accrual; when they become both measurable and available. Benefits are recognized in the accounting period in which the related fund liability is incurred in accordance with the terms of LOSAP. Administrative costs are paid by the Board. Actuarial valuation costs are paid by LOSAP. All plan investments are reported at fair value. The resources in the LOSAP fund have been set aside to pay future obligations of the LOSAP but are not held in a trust that meets the criteria outlined in GASB Statement No. 67, paragraph 3 and GASB Statement No. 68,paragraph 4. F-36 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES (continued) Investments — Investments are pooled with all Board investments and are held in accordance to the investment policy included in Note 1. All plan investments consist of U.S. Government and U.S. Government-guaranteed obligations which represent more than 5.0% of the net position available for benefits. There are no investments in, loans to or leases with any public employee retirement system official, government employer official, party related to a public employee retirement system official or government employer official, nonemployee contributor or organization included in the reporting entity. Discount Rate — The discount rate used to measure the total pension liability was 1.00% (no change from the prior measurement period). The projection of cash flows used to determine the discount rate assumed that employee contributions will be made at the current contribution rate and that the Board's contributions will be made at rates equal to the difference between actuarially determined contribution rates and the employee rate. Based on those assumptions, the pension plan's net position was projected to be available to make all projected future benefit payments of current active and inactive employees. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability. Changes in Total LOSAP Pension Liability: Total LOSAP Pension Liability Balance at January 1, 2017 $ 878,147 Changes for the year: Service cost 12,761 Interest cost 9,146 Differences Between Expected and Actual Experience 182 Benefit payments (32,265) Net change in total LOSAP pension liability (10,176) Balance at December 31, 2017 $ 867,971 Sensitivity of the Net Pension Liability to Changes in the Discount Rate — The following table presents the net pension liability of LOSAP, using the current discount rate, as well as what the Board's net pension liability would be if it were calculated using a discount rate that is 1-percentage point lower or 1-percentage point higher than the current rate. Current 1% Decrease Discount Rate 1% Increase (0.00%) (1.00%) (2.00%) Net LOSAP Pension Liability $ 910,404 $ 867,971 $ 752,349 F-37 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES (continued) Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions: For the year ended September 30, 2018, the Board recognized pension expense of $32,265. At September 30, 2018, the Board reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources, which will be amortized in future periods on substantially a straight-line basis: Deferred Deferred Outflows of Inflows of Resources Resources Net Difference Between Projected and Actual Earnings on LOSAP Pension Plan Investments $ 119 $ - NOTE 11 —CAPITAL AND OTHER SIGNIFICANT COMMITMENTS Construction projects and significant commitments, excluding encumbrances reported below, under present contractual agreements as of September 30, 2018 are as follows: Cudjoe Regional Wastewater $ 8,800,000 Cudjoe Fire Station 3,911,000 Key Largo Road and Drainage Projects 1,739,000 Stock Island Road and Drainage Projects 1,391,438 Plantation Key Courthouse & Detention Center 1,217,947 Light Detection & Ranging Flood Zone Surveys 477,955 Bertha Street Road and Drainage Project 402,928 Pigeon Key Ramp 283,249 Transfer Stations 281,939 Key West Resort Utilities 241,134 Marathon Library 164,548 Higgs Beach 135,255 Jackson Square 133,382 Other Projects (less than $100,000) 204,281 Total $ 19,384,056 The entire construction costs of the Cudjoe Regional Wastewater project are estimated at $207 million. There is an interlocal agreement between the County and the Florida Keys Aqueduct Authority (FKAA) for this project. The County obtained partial funding through grants, the issuance of revenue notes backed by the pledge of the infrastructure sales surtax, State of Florida clean water revolving loan and wastewater special assessments to provide funding to FKAA for the administration, planning and construction of wastewater projects. F-38 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 11 —CAPITAL AND OTHER SIGNIFICANT COMMITMENTS (continued) Significant encumbrance commitments at September 30, 2018 are as follows: Encumbrances Governmental Activities: General Fund $ 404,452 Road& Bridge Fund 1,385,620 Governmental Grants Fund 31,459,063 One Cent Infrastructure Surtax 234,476 Series 2014 Revenue Bonds 72,991 Nonmajor Governmental Funds 89,723 Total Governmental Activities 33,646,325 Business-Type Activities: Card Sound Bridge 68,184 Key West Airport 1,687,844 Marathon Airport 671,384 Total Business-Type Activities 2,427,412 Total Encumbrances $ 36,073,737 NOTE 12 —LEASE OBLIGATIONS The County leases office space, equipment, and debris removal staging sites under operating lease agreements. Total lease payments made in the year ended September 30, 2018 were $8,908,798. Of this amount, $1,563,960 is for lease payments related to debris removal staging sites for the County's Hurricane Irma recovery. The following is a schedule by years of future minimum rentals under non- cancelable operating leases for the fiscal year ended September 30: 2019 $ 5,405,654 2020 4,919,983 2021 4,711,612 2022 3,876,848 2023 3,633,016 2024-2028 5,296,406 Total 27,843.519 F-39 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 13 —LONG-TERM DEBT Long-term debt activity for the year ended September 30, 2018 is as follows: Beginning Current Portion Balances Ending of Long-Term Restated' Additions Payments Balances Liabilities Governmental Activities: Revenue Bonds Payable $ 46,793,045 $ - $ 7,233,045 $ 39,560,000 $ 4,575,000 Revenue Notes Payable' 119,769,209 34,218,404 490,398 153,497,215 503,777 Mayfield Agreement(KLWTD) 15,000,000 1,250,000 1,000,000 15,250,000 2,125,000 Accrued Comp Absences 12,771,459 7,217,338 6,909,838 13,078,959 2,654,317 OPEB Liability2 65,968,554 4,317,680 32,956,160 37,330,074 - FRS Pension Liability 117,634,718 20,120,189 11,244,300 126,510,607 - LOSAP Pension Liability 878,147 22,089 32,265 867,971 - Total Governmental Activities 378,815,132 67,145,700 59,866,006 386,094,826 9,858,094 Business-Type Activities: Landfill Closure Costs 177,812 - 177,812 - - Accrued Comp Absences 404,963 320,598 264,172 461,389 92,278 Revenue Notes Payable - 24,060,741 - 24,060,741 - OPEB Liability2 1,972,601 219,507 1,076,108 1,116,000 - FRS Pension Liability 4,705,346 1,067,679 394,643 5,378,382 - Total Business-Type Activities 7,260,722 25,668,525 1,912,735 31,016,512 92,278 Total Long-Term Debt $386,075,854 $ 92,814,225 $ 61,778,741 $417,111,338 $ 9,950,372 1Additions includes capitalized interest. 2The OPEB Liabilities'beginning balances are restated due to the implementation of GASB Statement No.75(See Note 22). Internal service fund long-term debt information is included in the governmental activities on the government-wide financial statements, because the internal service funds predominately serve those activities. Governmental activities' compensated absences are liquidated by the funds to which the related employee services relate. The Group Insurance Internal Service Fund assesses a monthly premium per employee in each fund. The monthly premiums paid by the various funds provide the resources necessary to liquidate the other postemployment benefit obligations paid in the current year by the Group Insurance Internal Service Fund. On July 7, 2018, the Florida Department of Environmental Protection certified the closing of the County's landfill site at Cudjoe Key. As a result, the long-term escrow liability required by Florida Administrative Code was dissolved during the fiscal year. F-40 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 13 —LONG-TERM DEBT (continued) The following summary reflects the Board's bonds and notes as of September 30, 2018: Governmental Activities Revenue Bonds: Infrastructure Sales Surtax Revenue Bonds, Series 2014 $ 23,695,000 Infrastructure Sales Surtax Refunding Bond, Series 2016 15,865,000 Total Revenue Bonds 39,560,000 Revenue Notes: Clean Water State Revolving Fund Construction Loan Agreement 2010 6,699,310 Clean Water State Revolving Fund Construction Loan Agreement 2014 130,858,646 Tax Exempt Master Revenue Note, Series 2018 (Hurricane Irma Recovery) 15,939,259 Total Revenue Notes 153,497,215 Mayfield Agreement—Key Largo Wastewater Treatment District 15,250,000 Total Government Debt $ 208,307,215 Business-Type Activities Revenue Notes: Tax Exempt Master Revenue Note, Series 2018 (Hurricane Irma Recovery) $ 24,060,741 Total Business-Type Activities Debt $ 24,060,741 F-41 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 13 —LONG-TERM DEBT (continued) Debt Service Funding Requirements — The total annual debt service requirements for bonds and notes outstanding at September 30, 2018 are as follows: Governmental Activities Business-Type Activities Principal Interest Total Principal Interest Total 2019 $ 7,203,777 $ 1,005,482 $ 8,209,259 $ - $ - $ - 2020 12,497,781 1,296,028 13,793,809 7,819,741 613,722 8,433,463 2021 12,748,400 1,045,242 13,793,642 8,018,242 414,262 8,432,504 2022 13,008,389 788,334 13,796,723 8,222,758 209,740 8,432,498 2023 7,681,047 525,117 8,206,164 - - - 2024-2028 23,313,375 926,355 24,239,730 - - - 2029-2033 995,800 27,108 1,022,908 - - - Total Required Debt Service 77,448,569 $5,613,666 $83,062,235 $24,060,741 $1,237,724 $25,298,465 2014 Clean Water State Revolving Fund Construction Loan Agreement' 130,858,646 Total $208,307,215 'Debt service for 2014 Clean Water State Revolving Fund notes is proposed to begin June 15,2019,however,the debt service repayment schedule has not yet been determined. Long-term debt at September 30, 2018 is composed of the following issues: $31,885,000 Florida Infrastructure Sales Surtax Improvement and Refunding Revenue Bonds, Series 2014 • Type: General Government Revenue Bonds • Dated: October 2014 • Final maturity: Year 2024 • Principal payment date: April 1 • Interest payment dates: April 1 and October 1 • Interest rate: 2.36% • Amount outstanding at September 30th: $23,695,000 • Reserve requirement: None; MBIA insured. • Revenue pledged: All of the One-Cent Local Government Infrastructure Sales Surtax accruing to Monroe County. The total principal and interest remaining to be paid is $25,690,144. For the fiscal year, principal and interest paid was $4,279,988 and total pledged revenue was $20,805,323. • Purpose: To construct and acquire equipment and capital improvements. • Call provisions: None F-42 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 13 —LONG-TERM DEBT (continued) $19,500,540 Clean Water State Revolving Fund Construction Loan Agreement • Type: General Government Revenue Notes • Dated: April 2010 • Final maturity: Year 2030 • Principal payment date: March 15 and September 15 • Interest payment dates: March 15 and September 15 • Interest rate: 2.71% • Amount outstanding at September 30th: $6,699,310 • Reserve requirement: None • Revenue pledged: Non-Ad Valorem Revenues in the General Fund, the Fine and Forfeiture Fund and the Unincorporated Area Service District Funds. The total principal and interest remaining to be paid is $7,842,289. For the fiscal year, principal and interest paid was $681,938 and total pledged revenue was $44,129,756. • Purpose: Refund temporary financing for wastewater capital improvements. • Call provisions: None Clean Water State Revolving Fund Construction Loan Agreement • The State awarded a total of $127,200,000 (original award plus seven amendment awards) for collection, transmission and treatment facilities under the State Revolving Fund loan program. During the year ended September 30, 2018, loan draws of $20,624,861 were received and accumulated interest of $3,034,654 capitalized resulting in an outstanding loan balance as of September 30, 2018 of$130,858,646. • Interest rate: various interest rates (2.35% - 3.07%) as of September 30, 2018 • Final maturity and payment: Details to be determined upon completion of draw process. • Reserve requirement: None • Revenue pledged: One-Cent Local Government Infrastructure Sales Surtax and Cudjoe Regional Wastewater special assessments. For the fiscal year, there were no principal and interest payments made as the loan was still in the draw process and total pledged revenue was $23,797,799. • Purpose: Financing for wastewater capital improvements. • Call provisions: None $16,065,000 Infrastructure Sales Surtax Refunding Revenue Bond, Series 2016 • Type: General Government Refunding Revenue Bond • Dated: September 2016 • Final maturity: Year 2026 • Principal payment date: April 1 • Interest payment dates: April 1 and October 1 • Interest rate: 1.69% F-43 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 13 —LONG-TERM DEBT (continued) • Amount outstanding at September 30th: $15,865,000 • Reserve requirement: None; MBIA insured. • Revenue pledged: All of the One Cent Local Government Infrastructure Sales Surtax accruing to Monroe County. The total principal and interest remaining to be paid is $17,520,778. For the fiscal year,principal and interest paid was $369,809 and total pledged revenue was $20,805,323. • Purpose: To construct and acquire equipment and capital improvements. • Call provisions: None $17,000,000 Mayfield Interlocal Agreement • Type: Inter-local Agreement • Dated: May 2015 • Final maturity: Year 2026 • Principal payment date: April 1 • Interest payment dates: April 1 • Interest rate: N/A • Amount outstanding at September 30th: $15,250,000 • Reserve requirement: None • Revenue pledged: One-Cent Local Government Infrastructure Sales Surtax. The total principal remaining to be paid is $15,250,000. For the fiscal year, principal paid was $1,000,000 total pledged revenue was $20,805,323. • Purpose: Capital improvements with respect to Cudjoe Regional Wastewater Project • Call provisions: None • See Note 14 for additional information related to this agreement. $40,000,000 Tax Exempt Master Revenue Note, Series 2018 • Type: Revolving Line of Credit • Dated: February 2018 • Final maturity: Year 2022 • Principal payment date: August 1 • Interest payment dates: February 1 • Interest rate: 2.55072% • Amount outstanding at September 30th: $40,000,000 • Reserve requirement: None • Revenue pledged: Legally available non-ad valorem revenues. The total principal remaining to be paid is $40,000,000. For the fiscal year, loan draws of $40,000,000 were received, interest paid was $232,530 and total pledged revenue was $44,129,756. • Purpose: To finance and refinance various capital improvements, repairs, and other extraordinary expenditures resulting from Hurricane Irma damage. • Call provisions: None F-44 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 14 —INTERLOCAL AGREEMENT EXPENSE Administered by the Florida Department of Environmental Protection (FDEP), the Mayfield Grant is the result of the State of Florida authorizing up to $200 million in grant funding to assist the Keys' wastewater entities to complete central sewer and related projects. In May 2015, Monroe County and Key Largo Wastewater Treatment District (KLWTD) entered into an "interlocal agreement" (ILA) whereby KLWTD "assigned" its Mayfield grant allocation funding to Monroe County in exchange for the County repaying those funds over a 10-year period. As a result of the signed ILA in 2015 between Monroe County and KLWTD, FDEP sent Monroe County an amendment to the Mayfield Grant in FY 2014-15 to add the $17 million reallocated funds to the grant agreement between FDEP and Monroe County. The amendment: (1) provided the County an additional $17 million in Mayfield grant funding; (2) reallocated the project budget and; (3) extended the date of the completion of the project. Similarly, during the 2016 legislative session, the Florida Legislature appropriated $5 million for water quality projects under the Florida Keys Stewardship Act. Of the $5 million, $1.25 million was awarded to the KLWTD and they subsequently voted to have Monroe County use its 2016 allotment. In turn, FDEP sent Monroe County an amendment to the Mayfield Grant in FY 2016-17 to add the $1.25 million reallocated fund to the grant agreement between FDEP and Monroe County. Monroe County entered into the grant agreement with FDEP in FY 2016-17 and received the $1.25 million in FY 2017-18. The ILA created transactions with two separate parts 1) a grant between FDEP and Monroe County and 2) a long-term liability payable to KLWTD from Monroe County. For part one, Monroe County recorded grant revenue, which was a reimbursement for capital expenditures already incurred in the Cudjoe Regional Wastewater fund. For part two, the County recorded a long-term liability on the government-wide financial statements, which represents funding the County is obligated to pay KLWTD as a result of the ILA. The offset to this liability was an interlocal agreement expense which represents the value of Monroe County's "right" to receive the Mayfield Grant revenue forfeited by KLWTD. F-45 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 15 —INTERFUND BALANCES During the course of operations, transactions occur which result in amounts owed to a particular fund by another fund, other than for goods provided or services rendered. The receivables and payables are due within a year and are classified as "Due from other funds/Due to other funds" on the governmental funds balance sheet or proprietary fund statement of net position. Interfund balances as of September 30, 2017 were as follows: Receivable Fund Payable Fund Amount General Fund Fine and Forfeiture $ 9,304 HIDTA Grants 96,763 Municipal Service District Waste 8,420 Nonmajor Governmental 803,699 Fine and Forfeiture Sheriff's Grants 6,562,239 Nonmajor Governmental 160,003 HIDTA Grants General Fund 63,856 Sheriff's Grants General Fund 10,451 Cudjoe Regional Wastewater Project General Fund 3,163 Municipal Service District Waste General Fund 2,504,075 Key West Airport Nonmajor Governmental 144,211 Internal Service Funds General Fund 116,869 Nonmajor Governmental General Fund 495,582 Internal Service Funds 1,369 HIDTA Grants 760,710 Nonmajor Governmental 774,895 F-46 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 16—INTERFUND TRANSFERS Interfund transfers at September 30, 2018 are as follows: Transfers to General Fund from: One Cent Infrastructure Surtax Fund $ 178,428 Fine&Forfeiture Fund 49,367,231 Municipal Service District—Waste 263,190 Card Sound Bridge Fund 149,693 Marathon Airport 50,153 Key West Airport 331,280 Internal Service Funds 579,520 Nonmajor Governmental Funds 4,286,831 Total Transfers to General Fund 55,206,326 Transfers to Fine&Forfeiture Fund from: General Fund 1,979,464 One Cent Infrastructure Surtax Fund 3,500,000 Internal Service Funds 190,277 Total Transfers to Fine&Forfeiture Fund 5,669,741 Transfers to HIDTA Grants Fund from: General Fund 28,601 Transfers to Governmental Grant Fund from: General Fund 194,806 Fine&Forfeiture Fund 19,234 One Cent Infrastructure Surtax Fund 21,334 Card Sound Bridge Fund 606,114 Nonmajor Governmental Funds 340,726 Total Transfers to General Fund 1,182,214 Transfers to Sheriffs Grants Fund from: General Fund 177,715 Transfers to Infrastructure Revenue Bonds Series 2014 Fund from: Cudjoe Regional Wastewater Project Fund 16,000,000 Transfers to Cudjoe Regional Wastewater Project Fund from: General Fund 3,056 Nonmajor Governmental Funds 500,000 Total Transfers to Cudjoe Regional Wastewater Project Fund 503,056 Transfers to Debt Service Fund from: General Fund 65,000 One Cent Infrastructure Surtax Fund 9,013,660 Nonmajor Governmental Funds 681,938 Total Transfers to Debt Service Fund 9,760,598 Transfers to Nonmajor Governmental Funds from: General Fund 794,178 One Cent Infrastructure Surtax Fund 500,000 Nonmajor Governmental Funds 7,826,601 Total Transfers to Nonmajor Governmental Funds 9,120,779 Transfers to Municipal Service District Waste Fund from: General Fund 4,075 Transfers to Marathon Airport Fund from: Key West Airport Fund for Passenger Facility Charges 18,181 Internal Service Funds 322,577 Total Transfers to Marathon Airport Fund 340,758 Total Interfund Transfers $ 97,993,863 F-47 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 16—INTERFUND TRANSFERS (continued) The One Cent Infrastructure Surtax Fund, a major fund, transferred $8,600,000 to the Debt Service Fund and $500,000 to the Big Coppitt Wastewater Project to repay long-term debt. Similarly, the Big Coppitt Wastewater Project transferred $340,969 to the Debt Service Fund for repayment of debt for this project. The Cudjoe Regional Wastewater Project received $500,000 from the Infrastructure Revenue Bonds Series 2007 to repay funds that were previously borrowed. The One Cent Infrastructure Surtax Fund transferred $1,500,000 to the Fine and Forfeiture Fund for the purchase a Trauma Star helicopter and $2,000,000 to fund the building of the Sheriff's gun range. The Cudjoe Regional Wastewater Project transferred $16,000,000 of the Revenue Bonds Series 2014 Fund to finance various capital projects. Transfers to the Government Grants Fund of $1,182,214 represent funds needed to meet match requirements including $606,114 transferred from the Card Sound Bridge fund to meet match requirements for repairing and automating the toll bridge, $242,459 from the Road and Bridge fund to meet the match requirements for the Garrison Bight bridge in Key West. The Risk Management Fund transferred $155,007 to the Fine and Forfeiture Fund and $322,577 to the Marathon Airport for the receipt of insurance proceeds received for damage caused by Hurricane Irma. The Group Insurance Fund transferred $35,270 of its Wellness Funds to the Fine and Forfeiture Fund to pay for new equipment at the Sheriff's gym. Passenger Facilities Charges (PFC)receipts were transferred to the Marathon Airport from the Key West Airport in the amount of $437,746 to fund approved projects by the Federal Aviation Administration (FAA). Among the FAA-approved projects were airfield security improvements, designs and bids for noise mitigation solutions, an environmental assessment at the Marathon airport, improvements to runways, lights and fencing. The remaining transfers are related to supporting the County's operations. NOTE 17—GOVERNMENTAL FUND BALANCE CLASSIFICATIONS Fund Balances are presented in the following categories; non-spendable, restricted, committed, assigned and unassigned (see Note 1 for a description of these categories). A detailed schedule of governmental fund balances at September 30, 2018 is presented below: F-48 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 17—GOVERNMENTAL FUND BALANCE CLASSIFICATIONS (continued) One Cent Fine& Governmental Sheriff's Infrastructure General Forfeiture Grants Grants Surtax Fund Balance: Non-spendable: Inventory $ 1,212,963 - Total Non-spendable 1,212,963 - - - - Restricted for: Law Enforcement - 21,255,010 - ( 6,491,420) - Fire&Ambulance - - - - - Public Safety - - - - - Physical Environment - - - - - Transportation - - - - - Housing Programs - - - - - Tourist Development - - - - - Human Services - - - - - Libraries - - - - - Library Donations - - - - - Culture&Recreation - - - - - Court Programs - - - - - Comprehensive Planning - - - - - Federal&State Grants - - 3,651,731 - - Wastewater Projects - - - - - Other Purposes - - - - - Debt Service - - - - - Capital Projects - - - - 21,032,085 Total Restricted - 21,255,010 3,651,731 ( 6,491,420) 21,032,085 Committed to: Disaster Recovery 10,000,000 - - - - Physical Environment - - - - - Sheriff Contract Administration - - - - - Wastewater Projects - - - - - Beach Re-nourishment - - - - - Total Committed 10,000,000 - - - - Assigned to: Other Purposes 404,452 - - - - Fire&Ambulance - - - - - Subsequent Year Expenditures 10,437,455 - - - - Total Assigned 10,841,907 - - - - Unassigned 12,248,363 - - - - Total Fund Balances $ 34,303,233 $ 21,255,010 $ 3,651,731 ($ 6,491,420) $ 21,032,085 F-49 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 17—GOVERNMENTAL FUND BALANCE CLASSIFICATIONS (continued) Cudjoe Infrastructure Regional All Debt Nonmajor Total Revenue Bonds Wastewater Service Governmental Governmental Series 2014 Project Fund Funds Funds Fund Balance: Non-spendable: Inventory $ - $ - $ - $ - $ 1,212,963 Total Non-spendable - - - - 1,212,963 Restricted for: Law Enforcement - - - 13,156,076 27,919,666 Fire&Ambulance - - - 1,814,672 1,814,672 Public Safety - - - 4,789,237 4,789,237 Physical Environment - - - 3,787,288 3,787,288 Transportation - - - 15,972,613 15,972,613 Housing Programs - - - 3,283,415 3,283,415 Tourist Development - - - 32,176,623 32,176,623 Human Services - - - 58,551 58,551 Libraries - - - 1,186,296 1,186,296 Library Donations - - - 303,204 303,204 Culture&Recreation - - - 1,467,794 1,467,794 Court Programs - - - 8,367,739 8,367,739 Comprehensive Planning - - - 4,988,667 4,988,667 Federal&State Grants - - - - 3,651,731 Wastewater Projects - 17,201,328 - 2,083,615 19,284,943 Other Purposes - - - 490,073 490,073 Debt Service - - 2,289,578 - 2,289,578 Capital Projects 26,862,489 - - 4,768,762 52,663,336 Total Restricted 26,862,489 17,201,328 2,289,578 98,694,625 184,495,426 Committed to: Disaster Recovery - - - - 10,000,000 Physical Environment - - - 2,739,043 2,739,043 Sheriff Contract - - - 1,292,124 1,292,124 Administration Wastewater Projects - - - 370,956 370,956 Beach Re-nourishment - - - 215,055 215,055 Total Committed - - - 4,617,178 14,617,178 Assigned to: Other Purposes - - - - 404,452 Fire&Ambulance - - - 4,325,401 4,325,401 Subsequent Year - - - - 10,437,455 Expenditures Total Assigned - - - 4,325,401 15,167,308 Unassigned - - - - 12,248,363 Total Fund Balances $ 26,862,489 $ 17,201,328 $ 2,289,578 $ 107,637,204 $ 227,741,238 F-50 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 18 —DEFICIT NET POSITIONS The County reported one fund with a deficit at September 30, 2018: ($6,491,420) in the Sheriff's Grants Fund. On September 10, 2017, the County experienced a damaging hurricane. The hurricane's recovery efforts resulted in the reported fund deficit because the County did not receive reimbursement for state and federal disaster aid by September 30, 2018. During FY 2018, the Municipal Service District Waste enterprise fund experienced a change in Net Position of ($17,818,224). This resulted in a negative Unrestricted Net Position of ($5,449,040). The negative Net Position was due to the County spending over $24 million on debris collection and removal as a result of damage caused by Hurricane Irma. The Federal Emergency Management Agency (FEMA) guidelines do not allow the accrual of a receivable until a disaster project is obligated by FEMA. That has yet to occur but the County expects to receive reimbursement from FEMA for these storm-related expenditures. Without the storm activity, Unrestricted Net Assets would have been $13,077,916. NOTE 19 —RISK MANAGEMENT The County is exposed to various risks of loss related to tort; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. During the fiscal years ended 1976, 1984 and 1988, the Board established the Workers' Compensation, Group Insurance, and Risk Management Funds, respectively, as internal service funds to account for and finance its uninsured risks of loss. Under these programs, the Workers' Compensation has self-insured coverage up to the first $500,000 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. The Group Insurance Fund provides self-insured excess claims. Risk Management has a $5,000,000 excess insurance policy for general liability claims with a $200,000 self-insured retention and building property damage is covered for the actual value of the building with a deductible of $50,000. Deductibles for windstorm and flood vary by location. The Board purchases commercial insurance for claims in excess of coverage provided by the funds and for all other risks of loss. Settled claims have not exceeded this commercial coverage in any of the past three years. All funds of the County participate in the programs and make payments to the Workers' Compensation, Group Insurance and Risk Management Funds based on management's estimates of the amounts needed to pay prior and current year claims. The claims liabilities reported are based on the requirements of Governmental Accounting Standards Board Statement No. 10, which requires that a liability for claims be reported if information prior to the issuance of the financial statements indicates that it is probable that a liability has been incurred at the date of the financial statements and the amount of the loss can be reasonably estimated. These claim liabilities, which are established based on estimates provided by the County's claim administrator, have not been discounted. F-51 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 19 —RISK MANAGEMENT (continued) Changes in the claim liability amounts in fiscal years 2018 and 2017 were: Workers' Group Risk Compensation Insurance Management Total Unpaid Claims at Sept. 30, 2016 $ 425,109 $ 1,028,472 $ 246,780 $ 1,700,361 Incurred Claims (Including IBNR) 1,928,729 16,186,908 1,905,615 20,021,252 Claim Payments (1,583,782) (16,059,964) (306,919) (17,950,665) Unpaid Claims at Sept. 30, 2017 770,056 1,155,416 1,845,476 3,770,948 Incurred Claims (Including IBNR) 2,315,420 15,957,996 2,125,637 20,399,053 Claim Payments (1,820,654) (15,948,521) (194,905) (17,964,080) Unpaid Claims at Sept. 30, 2018 $ 1,264,822 $ 1,164,891 $ 3,776,208 $ 6,205,921 NOTE 20 —LITIGATION AND CLAIMS The County is a defendant in various lawsuits and is involved in other disputes wherein substantial amounts are claimed. The County vigorously defends itself with respect to these matters. The County's practice is to provide for these claims when a loss is probable and a loss becomes fixed or determinable in amount. As a result of regulations adopted to protect the environment and manage growth, the County is involved in a handful of lawsuits. Most claims have been defeated to date, but two merit mention. In both of these cases, the County and State of Florida are co-defendants and any amounts awarded are expected to be apportioned between the parties. In one regulatory takings claim, the trial court found the County and the State of Florida to be liable. While the County expects to overturn the liability finding upon appeal, a valuation of the property was necessary in order to ripen the appeal. By stipulation, the parties agreed that the property at the time of the taking was valued at $175,000. After calculating pre judgment interest due on that value, the Court entered a final judgment in the amount of $347,475 as of December 31, 2016 jointly and severally against the County and the State of Florida. Under the final judgment, post judgment interest will accrue at approximately $22.77 per day, depending on annual adjustments to the statutory interest rate until that judgment is either satisfied or vacated. An award of attorney fees and costs would be in addition to the amounts in the judgment. It is reasonably estimated that, if the final judgment survives appeal, the trial court would enter an award of fees and costs for approximately $250,000, though the Plaintiffs attorney has not disclosed the amount of his claim at this juncture. In March 2017, the County and State appealed this final judgment; resolution of that appeal is expected prior to the end of FY 2019. The County has not recorded any liability for this claim in its financial statements due to the expectation that the liability finding and thus the final judgment will be overturned upon appeal. F-52 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 20 —LITIGATION AND CLAIMS (continued) In the second regulatory takings claim, the liability has been judicially determined against the County and State of Florida. In 2016, a jury valued the property at $285,500 as of the date of taking. After calculating pre judgment interest due on that value, the Court entered a final judgment in the amount of $480,512 as of June 1, 2016 jointly and severally against the County and the State of Florida. Under the final judgment,post judgment interest will accrue at approximately $64.64 per day, depending on annual adjustment to the statutory interest rate until that judgment is either satisfied or vacated. An award of attorney fees and costs would be in addition to the amounts in the judgment. An appellate court affirmed the decision of the trial court in 2018 and denied a motion for rehearing on February 1, 2019. The property owner's options for seeking further review are extremely limited. Due to the expected 50-50 apportionment of the liability with the state, the County has recorded a liability of $775,000 for this fiscal year. In the opinion of the County, it is reasonably possible that there are other open suits and claims that could result in judgments or settlements, which, in aggregate, would have a material adverse effect on the County's financial condition. Based on the uncertainty at this stage of the proceedings, an estimate of the amount or a range of potential losses cannot be determined. NOTE 21 —COMMITMENTS AND CONTINGENCIES Grant Programs — The County participates in a number of federal and state grant programs that are governed by various rules and regulations of the grantor agencies. Amounts received or receivable from grant agencies are subject to financial and compliance audits by the grantors or their representatives. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, which may be disallowed by the grantor, cannot be determined at this time, although the County expects such amounts, if any, to be immaterial. Impact Fee Refunds — Unexpended or unencumbered funds arising from the collection of impact fees may be refunded within one year following the end of the sixth year from the date on which the impact fee was paid or within three months of the non-commencement of construction, subject to certain conditions. F-53 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2018 NOTE 22 —RESTATEMENTS —GASB STATEMENT NO. 75 The restatements for the Governmental Activities, Business-Type Activities and certain Enterprise Funds and Internal Service Funds resulted from the implementation of GASB Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other than Pensions, which required the County to retroactively record the total postemployment benefit liability. Beginning net positions were restated as shown below for fiscal year 2018: Governmental Business-Type Activities Activities Net position, beginning of year, as previously reported $479,938,015 $ 113,186,881 Restatement of net OPEB liability (26,705,062) (63,887) Net position, beginning of year, as restated $453,232,953 $ 113,122,994 These restatements resulted in a reduction of the beginning net position of the following funds: Municipal Service District Waste Fund $ 12,722 Card Sound Bridge Fund 96,208 Key West Airport Fund (219,402) Marathon Airport Fund 46,585 Internal Service Funds 36,729 NOTE 23 —RESTATEMENT—KEY WEST AIRPORT FUND The beginning Net Position of the Key West Airport Fund combined the October 1, 2017 Net Position of the Key West Airport Fund of$60,682,600 with the October 1, 2017 Net Position of the PFC Operations & Restrictions Fund of$10,042,063 to present both funds as a single fund, Key West Airport Fund, for financial statement purposes. This change in presentation was made because the enterprise activities of the PFC Operations & Restrictions Fund are an integral part of the enterprise activities of the Key West Airport. NOTE 24 —SUBSEQUENT EVENTS On September 10, 2017, Monroe County sustained catastrophic damage county-wide due to a direct hit from Hurricane Irma, a Category 4 storm. The storm resulted in substantial expenditures on protective and security measures, debris clean-up and repairs to county buildings and facilities. Monroe County was notified in December 2018 that $6.7 million of expenditures related to Hurricane Irma were denied and de-obligated for reimbursement by the Federal Emergency Management Agency (FEMA). Until the County exhausts its appeals, the fiscal impact on the County's operations will not be known. Management has evaluated subsequent events through March 18, 2019, in connection with the preparation of these financial statements, which is the date the financial statements were available to be issued. F-54 This page is intentionally left blank. REQUIRED SUPPLEMENTARY INFORMATION MONROE COUNTY,FLORIDA SCHEDULE OF MONROE COUNTY PROPORTIONATE SHARE OF NET PENSION LIABILITY FLORIDA RETIREMENT SYSTEM PENSION PLAN LAST 10 FISCAL YEARS* 2018 2017 2016 2015 2014 Monroe County's proportion of the net pension liability 0.348561326% 0.328044588% 0.316397501% 0.298789301% 0.303954236% Monroe County's proportionate share of the net pension liability $ 104,988,478 $ 97,033,388 $ 79,890,617 $ 38,592,646 $ 18,545,678 Monroe County's covered payroll $ 84,301,564 $ 74,326,732 $ 70,699,621 $ 70,456,332 $ 69,783,359 Monroe County's proportionate share of the net pension liability as a percentage of its covered payroll 124.54% 130.55% 113.00% 54.78% 26.58% Plan fiduciary net position as a percentage of the total pension liability 84.26% 83.89% 84.88% 92.00% 96.09% *The amounts presented for each fiscal year were determined as of June 30. No data is available for the previous five years. G-1 MONROE COUNTY,FLORIDA SCHEDULE OF MONROE COUNTY CONTRIBUTIONS FLORIDA RETIREMENT SYSTEM PENSION PLAN LAST 10 FISCAL YEARS* 2018 2017 2016 2015 2014 Contractually required contribution $ 12,427,075 $ 8,317,662 $ 7,715,858 $ 7,284,737 $ 6,657,888 Contributions in relation to the contractually required contribution (12,427,075) (8,317,662) (7,715,858) (7,284,737) (6,657,888) Contribution deficiency(excess) $ - $ - $ - $ - $ - Monroe County's covered payroll $ 84,301,564 $ 69,003,713 $ 70,699,621 $ 70,133,038 $ 69,338,053 Contributions as a percentage of covered payroll 14.74% 12.05% 10.91% 10.39% 9.60% *The amounts presented for each fiscal year were determined as of September 30. No data is available for the previous five years. G-2 MONROE COUNTY,FLORIDA SCHEDULE OF MONROE COUNTY PROPORTIONATE SHARE OF NET PENSION LIABILITY HEALTH INSURANCE SUBSIDY PROGRAM LAST 10 FISCAL YEARS* 2018 2017 2016 2015 2014 Monroe County'sproportion of the net pension liability 0.254159349% 0.236677851% 0.228042287% 0.228 62 123 3% 0.231240629% Monroe County'sproportionate share of the net pension liability $ 26,900,511 $ 25,306,688 $ 26,577,384 $ 23,315,769 $ 21,621,563 Monroe County's covered payroll $ 84,301,564 $ 74,326,732 $ 70,699,621 $ 70,133,038 $ 69,338,053 Monroe County's proportionate share of the net pension liability as a percentage of its covered payroll 31.91% 34.05% 37.59% 33.25% 31.18% Plan fiduciary net position as a percentage of the total pension liability 2.15% 1.64% 0.97% 0.50% 0.99% *The amounts presented for each fiscal year were determined as of June 30. No data is available for the previous five years. G-3 MONROE COUNTY,FLORIDA SCHEDULE OF MONROE COUNTY CONTRIBUTIONS HEALTH INSURANCE SUBSIDY PROGRAM LAST 10 FISCAL YEARS* 2018 2017 2016 2015 2014 Contractually required contribution $ 1,398,691 $ 1,392,250 $ 1,168,862 $ 873,933 $ 792,153 Contributions in relation to the contractually required contribution (1,398,691) (1,392,250) (1,168,862) (873,933) (792,153) Contribution deficiency(excess) $ - $ - $ - $ - $ - Monroe County's covered payroll $ 84,301,564 $ 69,003,713 $ 70,699,621 $ 70,133,038 $ 69,338,053 Contributions as a percentage of covered payroll 1.66% 2.02% 1.65% 1.25% 1.14% *The amounts presented for each fiscal year were determined as of September 30. No data is available for the previous five years. G-4 MONROE COUNTY,FLORIDA REQUIRED SUPPLEMENTARY INFORMATION SCHEDULES OF CHANGES IN THE COUNTY'S NET PENSION LIABILITY AND RELATED RATIOS PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES LAST 10 FISCAL YEARS* (DOLLAR AMOUNTS IN THOUSANDS) 2018 2017 2016 2015 2014 Total pension liability Service Cost $ 12,761 $ 22,937 $ 16,394 $ 16,455 $ 18,434 Interest 9,146 9,146 8,895 8,054 12,219 Differences between expected and actual experience 182 (39,039) 33,108 89,397 (9,696) Benefit payments,including refunds of employee contributions (32,265) (32,265) (28,365) (30,855) (25,575) Net change in total pension liability (10,176) (39,221) 30,032 83,051 (4,618) Total pension liability-beginning 878,147 917,368 887,336 804,285 808,903 Total pension liability-ending $ 867,971 $ 878,147 $ 917,368 $ 887,336 $ 804,285 Covered payroll N/A N/A N/A N/A N/A County's total pension liability as a percentage of covered payroll N/A N/A N/A N/A N/A Notes to Schedule: *This schedule is presented to illustrate the requirement to show information for 10 years.However,until a full 10-year trend is compiled,governments should present information for those years for which information is available. There are no assets accumulated in a trust,as defined by Statement of Governmental Accounting Standards No.73,to pay benefits. G-5 This page is intentionally left blank. MONROE COUNTY,FLORIDA REQUIRED SUPPLEMENTARY INFORMATION YEAR ENDED SEPTEMBER 30,2018 TEN YEAR SCHEDULE OF EMPLOYER CONTRIBUTIONS PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES Year Ending December 31, 2017 2016 2015 2014 Contractually required contribution $ 39,899 $ 39,899 $ 30,304 $ 28,575 Contributions in relation to the contractually required contribution 39,899 39,899 30,304 28,575 Contribution deficiency(excess) Covered payroll - Contributions as a percentage of covered payroll N/A N/A N/A N/A Notes to Schedule Valuation Date: Actuarially determined contribution rates are calculated as of January 1,which is nine months prior to the end of the fiscal year in which contributions are reported. Methods and Assumptions used to determine contribution rates: Inflation No increase as benefits are based on a flat amount per year of service Salary Increases N/A Investment rate of return 1.0%net of investment expenses, including inflation Retirement age N/A Mortality N/A G-6 2013 2012 2011 2010 2009 2008 $ 36,788 $ 28,145 $ 30,379 $ 28,914 $ 30,791 $ 28,477 36,788 28,145 30,379 28,914 30,791 28,477 N/A N/A N/A N/A N/A N/A G-7 MONROE COUNTY, FLORIDA SCHEDULES OF REQUIRED SUPPLEMENTARY INFORMATION SCHEDULES OF CHANGES IN THE COUNTY'S TOTAL OPEB LIABILITY AND RELATED RATIOS LAST TEN FISCAL YEARS* 2018 Total OPEB liability Service cost $ 1,816,609 Interest 2,885,151 Changes of benefit terms (29,384,495) Changes in assumptions or other inputs (3,342,817) Benefit payments (1,469,529) Net change in total OPEB liability (29,495,081) Total OPEB liability-Beginning of Year 67,941,155 Total OPEB liability-End of Year $ 38,446,074 Covered-employee payroll $ 63,460,551 Total OPEB liability as a percentage of covered-employee payroll 60.58% Notes to Schedule: No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement No. 75. Effective January 1,2018,the County implemented cost-saving benefit changes for its other postemployment benefit plan.These included premium rates that are calculated based on expected retiree costs for Medicare retirees and lower premium subsidies for eligible retirees. Changes include updating the mortality to be a generational table with updated projection scales as published by the Society of Actuaries, an interest rate using 20 year bond rates, and a change in Actuarial Cost methodology to the Entry Age Normal method. *This schedule should present information for the last ten years. However, until a full ten years of information can be compiled, information will be presented for as many years as are available. G-8 COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS AFFORDABLE HOUSING PROGRAMS To account for revenues and expenditures of various low income housing programs. ROAD & BRIDGE To account for revenues and expenditures of the constitutional gas taxes. TOURIST DEVELOPMENT DISTRICTS To account for the local option three-cent bed tax in five districts, all districts two cent, and administrative and promotional funds for the expenditures of advertising, promotions, and special events of the County's Tourist Development Council. IMPACT FEES To account for the revenues and expenditures relating to impact fees collected for roadways, parks and recreation, libraries, solid waste, police facilities, fire and EMS, and fair share housing. FIRE AND AMBULANCE DISTRICT#1, LOWER AND MIDDLE KEYS To account for revenues and expenditures in District#1 for fire and ambulance services. UNINCORPORATED AREA SERVICE DISTRICTS To account for all revenues and expenditures for planning, building and zoning, and parks and recreation services provided only to the unincorporated area of the County. MUNICIPAL POLICING To account for all revenues and expenditures for local road patrol law enforcement in the City of Marathon, City of Layton, and Islamorada, Village of Islands. DUCK KEY SECURITY DISTRICT To account for the revenues and expenditures in providing security services for the Duck Key District. LOCAL HOUSING ASSISTANCE SPECIAL REVENUE FUND The Local Housing Assistance Fund is used to account for the revenues and expenditures for the administration and implementation of the State Housing Initiatives Partnership Program. BOATING IMPROVEMENT To account for revenues and expenditures for providing boating-related activities, for removal of vessels and floating structures deemed a hazard to public safety and health, and for manatee and marine mammal protection and recovery. MISCELLANEOUS SPECIAL REVENUE To account for revenues and expenditures earmarked for specific purposes. ENVIRONMENTAL RESTORATION To account for all revenue and expenditures for fines/fees collected and earmarked for environmental protection. (Continued) NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS— CONTINUED COURT FACILITY FEES To account for revenues collected upon the institution of any civil action, suit or proceeding to be used exclusively in providing and maintaining existing and future facilities for the use of the Circuit and County Court systems. DRUG ABUSE TRUST To account for assessments collected for drug abuse programs and to disburse assistance grants for drug abuse treatment and/or educational programs which meet the standards for qualification of such programs by the Department of Health and Rehabilitative Services. MARATHON MUNICIPAL SERVICE To account for the revenues and expenditures for municipal services for Marathon. WASTEWATER MSTU To account for the revenues and expenditures for wastewater services for Bay Point, Big Coppitt, Key Largo, Stock Island, Conch Key, Long Key-Layton, and Duck Key. BUILDING FUND To account for the revenues and expenditures relating to building permits and for the administration and enforcement of the building code for the unincorporated area of the County. SHERIFF'S TEEN COURT To account for receipts and disbursements pertaining to a program designed to deter juveniles who are becoming involved in crime. SHERIFF'S FEDERAL FORFEITURE To account for the revenues from the U.S. Departments of Justice and Treasury. Expenditures are made in accordance with the guidelines issued by these agencies. SHERIFF'S STATE FORFEITURE To account for the proceeds from state forfeitures received primarily from the South Florida Drug and Money Laundering Task Force. SHERIFF'S CONTRACT ADMINISTRATIVE To account for the receipts of service fees collected for administering HIDTA, South Florida Law Enforcement Trust Fund, Impact Support, and the NHAC Financial Unit. Expenditures relate to the costs of administering their activities. SHERIFF'S INMATE COMMISSARY To account for the receipts and disbursements of inmate telephone commissions, canteen revenues, and other inmate programs. SHERIFF'S INTERAGENCY COMMUNICATIONS To account for revenues and expenditures allocated for radio communications. SHERIFF'S TRAUMA STAR To account for revenues and expenditures for the Sheriff's operation of the Trauma Star helicopter. (Continued) NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS— CONTINUED SHERIFF'S RADIO COMMUNICATIONS To account for revenues and expenditures from Court fees for radio communications. SHERIFF'S SHARED ASSET FORFEITURE To account for the revenues and expenditures of the Sheriff Department's shared asset forfeiture program. SHERIFF'S E911 To account for fees levied on each telephone access line in Monroe County for the enhancement of the 911 emergency telephone systems. CLERK'S MODERNIZATION TRUST To account for revenue received through an additional recording fee pursuant to Florida Statute 28.24(15)(d) to be used for equipment, equipment maintenance, training, and technical assistance necessary to modernize the Clerk's public records system. CLERK'S COURT RELATED To account for revenues and expenditures for providing court related services under the direction of the Clerk of the Circuit Court. SUPERVISOR'S VOTER EDUCATION & EQUIPMENT To account for revenue received through grants for the education of voters and the purchase of voting equipment. CAPITAL PROJECT FUNDS CLERK'S REVENUE NOTE To account for the Clerk's network system from the Florida Local Government Finance Commission Loan. INFRASTRUCTURE REVENUE BONDS SERIES 2007 To account for the revenues and expenditures funded by the Infrastructure Revenue Bonds Series 2007 debt issuance. BIG COPPITT WASTEWATER To account for the revenues and expenditures of the wastewater infrastructure for Big Coppitt Key. DUCK KEY WASTEWATER To account for the revenues and expenditures of the wastewater infrastructure for Duck Key. LONG KEY WASTEWATER PROJECT To account for the revenues and expenditures related to the construction of the Long Key Wastewater Project. LAND ACQUISITION FUND To account for the revenues and expenditures related to Land Acquisition. This page is intentionally left blank. MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30,2018 SPECIAL Tourist Tourist Affordable Development Development Tourist Housing Road and All Districts Admin &Promo Development Programs Bridge Two Cent Two Cent District One ASSETS Cash and Cash Equivalents $ 49,013 $ 1,881,331 $ 1,327,145 $ 2,380,233 $ 2,704,352 Investments 345,729 12,468,884 3,864,206 4,053,067 9,613,648 Accounts Receivable, Net - - - - - Assessments Receivable - - - - - Due from Other Funds - - 58,249 108,177 98,942 Due from Other Governmental Units - 558,133 - 1,548 - Mortgages/Notes Receivable - - - - - Allowance for Mortgages/Notes Receivable - - - - - Interest Receivable 876 27,146 10,779 15,439 18,676 Total Assets $ 395,618 $ 14,935,494 $ 5,260,379 $ 6,558,464 $ 12,435,618 LIABILITIES, DEFERRED INFLOWS OF RESOURCES,AND FUND BALANCES Liabilities: Accounts Payable $ - $ 173,209 $ 384,476 $ 306,088 $ 126,395 Retainage Payable - 203,346 - - - Accrued Wages and Benefits Payable - 74,746 - 2,718 3,930 Due to Other Funds - - - - - Due to Other Governmental Units - 44,134 - - 115,984 Other Current Liabilities - 226 - 1,103 - Deposits in Escrow - - - - - Total Liabilities - 495,661 384,476 309,909 246,309 Deferred Inflows of Resources: Advances from Other Governments - - - - - Unavailable Revenues - - - - - Total Deferred Inflows of Resources - - - - - Fund Balances: Restricted 395,618 14,439,833 4,875,903 6,248,555 11,974,254 Committed - - - - 215,055 Assigned - - - - - Unassigned - - - - - Total Fund Balances 395,618 14,439,833 4,875,903 6,248,555 12,189,309 Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 395,618 $ 14,935,494 $ 5,260,379 $ 6,558,464 $ 12,435,618 H-1 REVENUE FUNDS Tourist Tourist Tourist Tourist Impact Fees, Development Development Development Development Impact Fees, Parks, and District Two District Three District Four District Five Roadways Recreation $ 235,547 $ 753,466 $ 468,866 $ 489,014 $ 207,476 $ 94,794 1,010,749 2,617,531 1,513,428 2,067,931 1,319,653 600,273 10,135 21,569 12,182 23,599 - - 1,758 4,744 3,199 3,531 5,651 1,326 $ 1,258,189 $ 3,397,310 $ 1,997,675 $ 2,584,075 $ 1,532,780 $ 696,393 $ 13,796 $ 24,901 $ 37,979 $ 66,072 $ - $ - 2,583 - - 3,225 - - 29 - 10,753 - - - 16,408 24,901 48,732 69,297 - - 1,241,781 3,372,409 1,948,943 2,514,778 1,532,780 696,393 1,241,781 3,372,409 1,948,943 2,514,778 1,532,780 696,393 $ 1,258,189 $ 3,397,310 $ 1,997,675 $ 2,584,075 $ 1,532,780 $ 696,393 (Continued) H-2 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET(CONTINUED) NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30,2018 SPECIAL Impact Fees, Impact Fees, Impact Fees, Impact Fees, Impact Fees, Fair Share Libraries Solid Waste Police Facilities Fire and EMS Housing ASSETS Cash and Cash Equivalents $ 145,506 $ 12,661 $ 16,005 $ 16,506 $ 5,489 Investments 1,027,030 89,497 112,950 95,111 38,704 Accounts Receivable, Net - - - - - Assessments Receivable - - - - - Due from Other Funds - - - - - Due from Other Governmental Units 11,375 - - - - Mortgages/Notes Receivable - - - - - Allowance for Mortgages/Notes Receivable - - - - - Interest Receivable 2,385 189 193 171 561 Total Assets $ 1,186,296 $ 102,347 $ 129,148 $ 111,788 $ 44,754 LIABILITIES, DEFERRED INFLOWS OF RESOURCES,AND FUND BALANCES Liabilities: Accounts Payable $ - $ - $ - $ - $ - Retainage Payable - - - - - Accrued Wages and Benefits Payable - - - - - Due to Other Funds - - - - - Due to Other Governmental Units - - - - - Other Current Liabilities - - - - - Deposits in Escrow - - - - - Total Liabilities - - - - - Deferred Inflows of Resources: Advances from Other Governments - - - - - Unavailable Revenues - - - - - Total Deferred Inflows of Resources - - - - - Fund Balances: Restricted 1,186,296 102,347 129,148 111,788 44,754 Committed - - - - - Assigned - - - - - Unassigned - - - - - Total Fund Balances 1,186,296 102,347 129,148 111,788 44,754 Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 1,186,296 $ 102,347 $ 129,148 $ 111,788 $ 44,754 H-3 REVENUE FUNDS Fire&Amb Unincorporated Unincorporated District One, Area Service Area Service Duck Key Lower and District, Dist, Planning Municipal Security Middle Keys Parks and Rec Bldg and Zoning Policing District $ 606,439 $ 291,083 $ 563,581 $ 1,064,708 $ 36,392 3,845,137 544,839 8,822,048 1,062,938 291,097 28,553 - - - - 50,349 27,549 5,251 - - 151,422 - 134,561 - - 14,656 2,085 20,434 3,709 856 $ 4,696,556 $ 865,556 $ 9,545,875 $ 2,131,355 $ 328,345 $ 43,798 $ 49,449 $ 93,480 $ - $ 6,230 325,979 23,777 184,030 - - - - 1,920 390,153 - 1,378 13,485 1,751 - - - 7,444 184,421 - - 371,155 94,155 465,602 390,153 6,230 - 771,401 9,080,273 1,741,202 322,115 4,325,401 - - - - 4,325,401 771,401 9,080,273 1,741,202 322,115 $ 4,696,556 $ 865,556 $ 9,545,875 $ 2,131,355 $ 328,345 (Continued) H-4 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET(CONTINUED) NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30,2018 SPECIAL Local Miscellaneous Housing Boating Special Environmental Assistance Improvement Revenue Restoration ASSETS Cash and Cash Equivalents $ 368,187 $ 425,882 $ 340,515 $ 362,520 Investments 2,488,493 2,723,745 2,751,614 2,388,223 Accounts Receivable, Net - - - - Assessments Receivable - - - - Due from Other Funds - - 44,922 - Due from Other Governmental Units - - - - Mortgages/Notes Receivable 8,170,603 - - - Allowance for Mortgages/Notes Receivable (8,170,603) - - - Interest Receivable 3,989 6,068 6,223 4,662 Total Assets $ 2,860,669 $ 3,155,695 $ 3,143,274 $ 2,755,405 LIABILITIES, DEFERRED INFLOWS OF RESOURCES,AND FUND BALANCES Liabilities: Accounts Payable $ 17,626 $ 21,649 $ 20,730 $ 11,322 Retainage Payable - - - - Accrued Wages and Benefits Payable - 2,411 - 5,040 Due to Other Funds - - 29,558 - Due to Other Governmental Units - - 13,780 - Other Current Liabilities - - - - Deposits in Escrow - - - - Total Liabilities 17,626 24,060 64,068 16,362 Deferred Inflows of Resources: Advances from Other Governments - - - - Unavailable Revenues - - - - Total Deferred Inflows of Resources - - - - Fund Balances: Restricted 2,843,043 3,131,635 3,079,206 - Committed - - - 2,739,043 Assigned - - - - Unassigned - - - - Total Fund Balances 2,843,043 3,131,635 3,079,206 2,739,043 Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 2,860,669 $ 3,155,695 $ 3,143,274 $ 2,755,405 H-5 REVENUE FUNDS Court Drug Marathon Bay Point Big Coppitt Facility Abuse Municipal Wastewater Wastewater Fees Trust Service MSTU MSTU $ 480,548 $ 6,331 $ 329 $ 5,651 $ 76 3,308,391 53,357 2,266 40,449 534 32,430 1,544 - - - 6,815 251 6 108 2 $ 3,828,184 $ 61,483 $ 2,601 $ 46,208 $ 612 $ 1,779 $ 2,932 $ - $ - $ - 1,543 - - - - 3,322 2,932 - - - 3,824,862 58,551 2,601 - - - - - 46,208 612 3,824,862 58,551 2,601 46,208 612 $ 3,828,184 $ 61,483 $ 2,601 $ 46,208 $ 612 (Continued) H-6 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET(CONTINUED) NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30,2018 SPECIAL Key Largo Stock Island Long Key, Wastewater Wastewater Conch Key Layton MSTU MSTU MSTU MSTU ASSETS Cash and Cash Equivalents $ 959 $ 125,148 $ 60 $ 31,132 Investments 6,767 879,184 424 226,000 Accounts Receivable, Net - - - - Assessments Receivable - 1,985,945 - - Due from Other Funds 16 1,019 - - Due from Other Governmental Units - - - - Mortgages/Notes Receivable - - - - Allowance for Mortgages/Notes Receivable - - - - Interest Receivable 17 1,819 1 339 Total Assets $ 7,759 $ 2,993,115 $ 485 $ 257,471 LIABILITIES, DEFERRED INFLOWS OF RESOURCES,AND FUND BALANCES Liabilities: Accounts Payable $ - $ 125,000 $ - $ - Retainage Payable - - - - Accrued Wages and Benefits Payable - 120 - 342 Due to Other Funds - - - - Due to Other Governmental Units - - - - Other Current Liabilities - - - - Deposits in Escrow - - - - Total Liabilities - 125,120 - 342 Deferred Inflows of Resources: Advances from Other Governments - - - - Unavailable Revenues - 1,963,538 - - Total Deferred Inflows of Resources - 1,963,538 - - Fund Balances: Restricted - 904,457 - - Committed 7,759 - 485 257,129 Assigned - - - - Unassigned - - - - Total Fund Balances 7,759 904,457 485 257,129 Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 7,759 $ 2,993,115 $ 485 $ 257,471 H-7 REVENUE FUNDS Sheriffs Sheriffs Sheriffs Duck Key Building Teen Federal State MSTU Fund Court Forfeiture Forfeiture $ 7,279 $ 540,453 $ - $ 3,174,025 $ 115,561 51,344 2,465,161 - - 522,481 - - 31,999 128 - - - 3,536 - - 140 6,729 - - 1,314 $ 58,763 $ 3,012,343 $ 35,535 $ 3,174,153 $ 639,356 $ - $ 210,913 $ - $ 19 $ - - 136,174 - - - - - - 6,236 - - 34,839 - 128 35,733 - 8,110 - - - - 390,036 - 6,383 35,733 - 2,622,307 35,535 3,167,770 603,623 58,763 - - - - 58,763 2,622,307 35,535 3,167,770 603,623 $ 58,763 $ 3,012,343 $ 35,535 $ 3,174,153 $ 639,356 (Continued) H-8 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET(CONTINUED) NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30,2018 SPECIAL Sheriffs Sheriffs Sheriffs Contract Sheriffs Interagency Trauma Administrative Commissary Communications Star ASSETS Cash and Cash Equivalents $ - $ 810,152 $ 375,279 $ 1,114,885 Investments - - - - Accounts Receivable, Net - 34,371 7,466 - Assessments Receivable - - - - Due from Other Funds 1,371,768 - 19,691 - Due from Other Governmental Units 64,567 - 100 - Mortgages/Notes Receivable - - - - Allowance for Mortgages/Notes Receivable - - - - Interest Receivable - - - - Total Assets $ 1,436,335 $ 844,523 $ 402,536 $ 1,114,885 LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES Liabilities: Accounts Payable $ - $ 21,694 $ 9,526 $ - Retainage Payable - - - - Accrued Wages and Benefits Payable - 7,741 - - Due to Other Funds 144,211 9,960 438 - Due to Other Governmental Units - 11,029 - - Other Current Liabilities - - - 1,114,885 Deposits in Escrow - - - - Total Liabilities 144,211 50,424 9,964 1,114,885 Deferred Inflows of Resources: Advances from Other Governments - - - - Unavailable Revenues - - - - Total Deferred Inflows of Resources - - - - Fund Balances: Restricted - 794,099 392,572 - Committed 1,292,124 - - - Assigned - - - - Unassigned - - - - Total Fund Balances 1,292,124 794,099 392,572 - Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 1,436,335 $ 844,523 $ 402,536 $ 1,114,885 H-9 REVENUE FUNDS Sheriffs Sheriffs Clerk's Clerk's Radio Shared Asset Sheriffs Records Court Communication Forfeiture E911 Modernization Related $ 89,258 $ 234,701 $ 1,707,800 $ 2,267,151 $ 1,838,212 - 4,420,314 - - - - - - - 40 - 143 - - 111,347 - - - - 102,481 - 36,214 - - - $ 89,258 $ 4,691,372 $ 1,707,800 $ 2,267,151 $ 2,052,080 $ - $ 53,833 $ 7,820 $ 3,412 $ 284,280 - - 7,324 - - 89,258 48 36,272 - 1,174,754 - - 1,741 - 493,201 89,258 53,881 53,157 3,412 1,952,235 - - - - 99,845 - - - - 99,845 - 4,637,491 1,654,643 2,263,739 - - 4,637,491 1,654,643 2,263,739 - $ 89,258 $ 4,691,372 $ 1,707,800 $ 2,267,151 $ 2,052,080 (Continued) H-10 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET(CONTINUED) NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30,2018 SPECIAL REVENUE FUNDS CAPITAL Supervisor's Total Nonmajor Clerk's Infrastructure Voter ED& Special Rev Revenue Revenue Bonds Equipment Funds Note Series 2007 ASSETS Cash and Cash Equivalents $ - $ 27,771,701 $ 25,976 $ 531,164 Investments - 77,733,197 80,061 - Accounts Receivable, Net - 70,430 - - Assessments Receivable - 1,985,945 - - Due from Other Funds - 2,031,009 - - Due from Other Governmental Units - 1,027,723 - - Mortgages/Notes Receivable - 8,170,603 - - Allowance for Mortgages/Notes Receivable - (8,170,603) - - Interest Receivable - 213,061 218 - Total Assets $ - $ 110,833,066 $ 106,255 $ 531,164 LIABILITIES, DEFERRED INFLOWS OF RESOURCES,AND FUND BALANCES Liabilities: Accounts Payable $ - $ 2,118,408 $ - $ 228,899 Retainage Payable - 203,346 - 24,667 Accrued Wages and Benefits Payable - 781,683 - - Due to Other Funds - 1,882,808 - - Due to Other Governmental Units - 777,965 - - Other Current Liabilities - 1,116,214 - - Deposits in Escrow - 199,975 - - Total Liabilities - 7,080,399 - 253,566 Deferred Inflows of Resources: Advances from Other Governments - - - - Unavailable Revenues - 2,063,383 - - Total Deferred Inflows of Resources - 2,063,383 - - Fund Balances: Restricted - 92,746,705 106,255 277,598 Committed - 4,617,178 - - Assigned - 4,325,401 - - Unassigned - - - - Total Fund Balances - 101,689,284 106,255 277,598 Total Liabilities, Deferred Inflows of Resources and Fund Balances $ - $ 110,833,066 $ 106,255 $ 531,164 H-11 PROJECT FUNDS Total Big Coppitt Duck Key Long Key Land Nonmajor Wastewater Wastewater Wastewater Acquisition Governmental Project Project Project Fund Funds $ 38,400 $ 38,951 $ 37,772 $ 544,002 $ 28,987,966 75,304 225,456 266,447 3,864,167 82,244,632 - - - - 70,430 2,233,715 495,479 - - 4,715,139 856 691 - - 2,032,556 - - 429,468 - 1,457,191 - - - - 8,170,603 - - - - (8,170,603) 4,319 3,393 375 4,411 225,777 $ 2,352,594 $ 763,970 $ 734,062 $ 4,412,580 $ 119,733,691 $ - $ - $ - $ 27,671 $ 2,374,978 - - - - 228,013 137 103 - - 781,923 - - - - 1,882,808 - - - - 777,965 - - - - 1,116,214 - - - - 199,975 137 103 - 27,671 7,361,876 2,185,849 485,379 - - 4,734,611 2,185,849 485,379 - - 4,734,611 166,608 278,488 734,062 4,384,909 98,694,625 - - - - 4,617,178 - - - - 4,325,401 166,608 278,488 734,062 4,384,909 107,637,204 $ 2,352,594 $ 763,970 $ 734,062 $ 4,412,580 $ 119,733,691 H-12 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2018 SPECIAL Tourist Tourist Affordable Development Development Tourist Housing Road and All Districts Admin &Promo Development Programs Bridge Two Cent Two Cent District One REVENUES: Taxes $ - $ 2,376,104 $ 5,332,289 $ 11,049,550 $ 9,653,986 Licenses and Permits - - - - - Intergovernmental - 3,784,276 - - - Charges for Services - 136,855 - - - Fines and Forfeitures - - - - - Investment Income 3,405 130,500 42,310 40,412 114,756 Miscellaneous - 50,685 - - - Total Revenues 3,405 6,478,420 5,374,599 11,089,962 9,768,742 EXPENDITURES: Current: General Government - - - - - Public Safety - - - - - Physical Environment - - - - - Transportation - 5,930,903 - - - Economic Environment - - 5,776,320 13,107,011 9,897,985 Human Services - - - - - Culture and Recreation - - - - - Court Related - - - - - Capital Projects - - - - - Total Expenditures - 5,930,903 5,776,320 13,107,011 9,897,985 Excess/Deficiency of Revenues Over(Under)Expenditures 3,405 547,517 (401,721) (2,017,049) (129,243) OTHER FINANCING SOURCES(USES): Transfers from Other Funds - - 58,249 108,177 98,942 Transfers to Other Funds - (771,759) (100,767) (57,447) (59,799) Total Other Financing Sources(Uses) - (771,759) (42,518) 50,730 39,143 Net Change in Fund Balances 3,405 (224,242) (444,239) (1,966,319) (90,100) Fund Balances-October 1 392,213 14,664,075 5,320,142 8,214,874 12,279,409 Fund Balances-September 30 $ 395,618 $ 14,439,833 $ 4,875,903 $ 6,248,555 $ 12,189,309 H-13 REVENUE FUNDS Tourist Tourist Tourist Tourist Impact Fees, Development Development Development Development Impact Fees, Parks, and District Two District Three District Four District Five Roadways Recreation $ 1,033,066 $ 2,125,104 $ 1,223,602 $ 2,346,082 $ - $ - - - - - 83,884 42,160 10,707 30,989 16,357 21,431 25,082 5,983 1,043,773 2,156,093 1,239,959 2,367,513 108,966 48,143 766,303 2,327,799 1,261,387 1,720,607 - - 766,303 2,327,799 1,261,387 1,720,607 - - 277,470 (171,706) (21,428) 646,906 108,966 48,143 10,135 21,569 12,182 23,599 - - (23,442) (16,656) (12,273) (37,724) - - (13,307) 4,913 (91) (14,125) - - 264,163 (166,793) (21,519) 632,781 108,966 48,143 977,618 3,539,202 1,970,462 1,881,997 1,423,814 648,250 $ 1,241,781 $ 3,372,409 $ 1,948,943 $ 2,514,778 $ 1,532,780 $ 696,393 (Continued) H-14 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES(CONTINUED) NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2018 SPECIAL Impact Fees, Impact Fees, Impact Fees, Impact Fees, Libraries Solid Waste Police Facilities Fire and EMS REVENUES: Taxes $ - $ - $ - $ - Licenses and Permits 38,331 1,920 3,285 13,581 Intergovernmental - - - - Charges for Services - - - - Fines and Forfeitures - - - - Investment Income 10,146 893 1,152 961 Miscellaneous - - - - Total Revenues 48,477 2,813 4,437 14,542 EXPENDITURES: Current: General Government - - - - Public Safety - - - - Physical Environment - - - - Transportation - - - - Economic Environment - - - - Human Services - - - - Culture and Recreation - - - - Court Related - - - - Capital Projects - - - - Total Expenditures - - - - Excess/Deficiency of Revenues Over(Under)Expenditures 48,477 2,813 4,437 14,542 OTHER FINANCING SOURCES(USES): Transfers from Other Funds - - - - Transfers to Other Funds - - - - Total Other Financing Sources(Uses) - - - - Net Change in Fund Balances 48,477 2,813 4,437 14,542 Fund Balances-October 1 1,137,819 99,534 124,711 97,246 Fund Balances-September 30 $ 1,186,296 $ 102,347 $ 129,148 $ 111,788 H-15 REVENUE FUNDS Fire&Amb Unincorporated Unincorporated Impact Fees, District One, Area Service Area Service Duck Key Fair Share Lower and District, Dist, Planning Municipal Security Housing Middle Keys Parks and Rec Bldg and Zoning Policing District $ - $ 11,516,763 $ 1,840,080 $ 585,882 $ 4,015,150 $ - - - - - - 93,135 - 124,268 5,422 1,270,889 - - - 638,217 - 2,790,277 3,578,357 - - - - 2,387,225 - - 262 91,265 14,309 88,585 24,737 3,214 - 6,258 40,826 4,680 - - 262 12,376,771 1,900,637 7,127,538 7,618,244 96,349 - - - 2,581,751 - - - 12,216,970 - 2,657,562 1,153,412 142,700 - - - 884,311 - - - - 1,827,997 - - - - 12,216,970 1,827,997 6,123,624 1,153,412 142,700 262 159,801 72,640 1,003,914 6,464,832 (46,351) - 201,771 27,549 4,801 321,342 - - (1,057,181) (54,040) (1,606,465) (7,274,010) (1,000) - (855,410) (26,491) (1,601,664) (6,952,668) (1,000) 262 (695,609) 46,149 (597,750) (487,836) (47,351) 44,492 5,021,010 725,252 9,678,023 2,229,038 369,466 $ 44,754 $ 4,325,401 $ 771,401 $ 9,080,273 $ 1,741,202 $ 322,115 (Continued) H-16 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES(CONTINUED) NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2018 SPECIAL Local Miscellaneous Housing Boating Special Environmental Assistance Improvement Revenue Restoration REVENUES: Taxes $ - $ - $ - $ - Licenses and Permits - - 108,037 - Intergovernmental 1,440,976 - - - Charges for Services - 749,271 389,247 - Fines and Forfeitures - - 194,232 746,450 Investment Income 26,951 27,201 28,168 23,725 Miscellaneous 131,010 3,657 1,120 - Total Revenues 1,598,937 780,129 720,804 770,175 EXPENDITURES: Current: General Government - - 577 - Public Safety - - 87,488 - Physical Environment - 403,681 - 302,463 Transportation - - - - Economic Environment 269,595 - - - Human Services - - 222,299 - Culture and Recreation - - 3,214 - Court Related - - 264,369 - Capital Projects - - - - Total Expenditures 269,595 403,681 577,947 302,463 Excess/Deficiency of Revenues Over(Under)Expenditures 1,329,342 376,448 142,857 467,712 OTHER FINANCING SOURCES(USES): Transfers from Other Funds - - 4,029 - Transfers to Other Funds - (44,542) (143,415) (25,685) Total Other Financing Sources(Uses) - (44,542) (139,386) (25,685) Net Change in Fund Balances 1,329,342 331,906 3,471 442,027 Fund Balances-October 1 1,513,701 2,799,729 3,075,735 2,297,016 Fund Balances-September 30 $ 2,843,043 $ 3,131,635 $ 3,079,206 $ 2,739,043 H-17 REVENUE FUNDS Court Drug Marathon Bay Point Big Coppitt Facility Abuse Municipal Wastewater Wastewater Fees Trust Service MSTU MSTU 413,393 31,236 - - - 33,013 533 31 394 5 446,406 31,769 31 394 5 - - - 591 - - 58,696 - - - 168,011 - - - - 168,011 58,696 - 591 - 278,395 (26,927) 31 (197) 5 278,395 (26,927) 31 (197) 5 3,546,467 85,478 2,570 46,405 607 $ 3,824,862 $ 58,551 $ 2,601 $ 46,208 $ 612 (Continued) H-18 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES(CONTINUED) NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2018 SPECIAL Key Largo Stock Island Long Key, Wastewater Wastewater Conch Key Layton MSTU MTSU MSTU MSTU REVENUES: Taxes $ 1,052 $ - $ - $ - Licenses and Permits - 724,845 -Intergovernmental - - - - Charges for Services - - - - Fines and Forfeitures - - - - Investment Income 70 22,409 5 2,283 Miscellaneous - 6,532 - - Total Revenues 1,122 753,786 5 2,283 EXPENDITURES: Current: General Government - - - - Public Safety - - - - Physical Environment 32 445,075 - 4,216 Transportation - - - - Economic Environment - - - - Human Services - - - - Culture and Recreation - - - - Court Related - - - - Capital Projects - - - - Total Expenditures 32 445,075 - 4,216 Excess/Deficiency of Revenues Over(Under)Expenditures 1,090 308,711 5 (1,933) OTHER FINANCING SOURCES(USES): Transfers from Other Funds 16 1,019 - - Transfers to Other Funds - (1,000) - - Total Other Financing Sources(Uses) 16 19 - - Net Change in Fund Balances 1,106 308,730 5 (1,933) Fund Balances-October 1 6,653 595,727 480 259,062 Fund Balances-September 30 $ 7,759 $ 904,457 $ 485 $ 257,129 H-19 REVENUE FUNDS Sheriffs Sheriffs Sheriffs Duck Key Building Teen Federal State MSTU Fund Court Forfeiture Forfeiture - 4,833,229 - - - - - - 157,531 - - 106,479 44,548 - - - - - - 28,697 501 25,444 - 45,742 5,567 - 23,177 - - - 501 4,988,329 44,548 203,273 34,264 - 6,101,138 59,554 1,610,181 64,691 - 6,101,138 59,554 1,610,181 64,691 501 (1,112,809) (15,006) (1,406,908) (30,427) - - - (5,162) - - - - (5,162) - 501 (1,112,809) (15,006) (1,412,070) (30,427) 58,262 3,735,116 50,541 4,579,840 634,050 $ 58,763 $ 2,622,307 $ 35,535 $ 3,167,770 $ 603,623 (Continued) H-20 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES(CONTINUED) NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2018 SPECIAL Sheriffs Sheriffs Sheriffs Contract Sheriffs Interagency Trauma Administrative Commissary Communications Star REVENUES: Taxes $ - $ - $ - $ - Licenses and Permits - - - - Intergovernmental 485,473 - - - Charges for Services 3,554,579 474,559 28,412 - Fines and Forfeitures - - - - Investment Income 10,033 10,261 5,532 - Miscellaneous - 12,248 - - Total Revenues 4,050,085 497,068 33,944 - EXPENDITURES: Current: General Government - - - - Public Safety 3,972,763 403,251 162,282 5,315,472 Physical Environment - - - - Transportation - - - - Economic Environment - - - - Human Services - - - - Culture and Recreation - - - - Court Related - - - - Capital Projects - - - - Total Expenditures 3,972,763 403,251 162,282 5,315,472 Excess/Deficiency of Revenues Over(Under)Expenditures 77,322 93,817 (128,338) (5,315,472) OTHER FINANCING SOURCES(USES): Transfers from Other Funds 1,917 - 113,536 5,315,472 Transfers to Other Funds - - - - Total Other Financing Sources(Uses) 1,917 - 113,536 5,315,472 Net Change in Fund Balances 79,239 93,817 (14,802) - Fund Balances-October 1 1,212,885 700,282 407,374 - Fund Balances-September 30 $ 1,292,124 $ 794,099 $ 392,572 $ - H-21 REVENUE FUNDS Sheriffs Sheriffs Clerk's Clerk's Radio Shared Asset Sheriffs Records Court Communication Forfeiture E911 Modernization Related - - - - 1,347,180 79,814 - 463,135 289,416 1,038,034 - - - - 1,356,413 - 119,298 24,474 38,619 19,817 - - - - 4,893 79,814 119,298 487,609 328,035 3,766,337 1,091,366 380,938 613,869 - - - - - 432,180 3,887,939 1,091,366 380,938 613,869 432,180 3,887,939 (1,011,552) (261,640) (126,260) (104,145) (121,602) 1,100,810 - - - 1,194,135 (89,258) - - - (1,072,533) 1,011,552 - - - 121,602 - (261,640) (126,260) (104,145) - - 4,899,131 1,780,903 2,367,884 - $ - $ 4,637,491 $ 1,654,643 $ 2,263,739 $ - (Continued) H-22 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES(CONTINUED) NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2018 SPECIAL REVENUE FUNDS CAPITAL Supervisor's Total Nonmajor Clerk's Infrastructure Voter ED& Special Rev Revenue Revenue Bonds Equipment Funds Note Series 2007 REVENUES: Taxes $ - $ 53,098,710 $ - $ - Licenses and Permits - 5,942,407 - - Intergovernmental 117,518 8,733,533 - - Charges for Services - 14,805,829 - - Fines and Forfeitures - 4,713,017 - - Investment Income - 1,147,532 1,068 21,031 Miscellaneous - 285,086 - - Total Revenues 117,518 88,726,114 1,068 21,031 EXPENDITURES: Current: General Government 117,518 2,699,846 - - Public Safety - 36,033,637 - - Physical Environment - 2,040,369 - - Transportation - 5,930,903 - - Economic Environment - 35,127,007 - - Human Services - 280,995 - - Culture and Recreation - 1,831,211 - - Court Related - 4,752,499 - - Capital Projects - - - 435,792 Total Expenditures 117,518 88,696,467 - 435,792 Excess/Deficiency of Revenues Over(Under)Expenditures - 29,647 1,068 (414,761) OTHER FINANCING SOURCES(USES): Transfers from Other Funds - 8,619,250 - - Transfers to Other Funds - (12,454,158) - (500,000) Total Other Financing Sources(Uses) - (3,834,908) - (500,000) Net Change in Fund Balances - (3,805,261) 1,068 (914,761) Fund Balances-October 1 - 105,494,545 105,187 1,192,359 Fund Balances-September 30 $ - $ 101,689,284 $ 106,255 $ 277,598 H-23 PROJECT FUNDS Total Big Coppitt Duck Key Long Key Land Nonmajor Wastewater Wastewater Wastewater Acquisition Governmental Project Project Project Fund Funds $ - $ - $ - $ - $ 53,098,710 221,448 90,475 - - 6,254,330 - - - - 8,733,533 - - - - 14,805,829 - - - - 4,713,017 78,438 16,694 2,704 42,534 1,310,001 31,049 6,532 - - 322,667 330,935 113,701 2,704 42,534 89,238,087 - - - - 2,699,846 - - - - 36,033,637 - - - - 2,040,369 - - - - 5,930,903 - - - - 35,127,007 - - - - 280,995 - - - - 1,831,211 - - - - 4,752,499 21,118 1,945 101,977 1,344,407 1,905,239 21,118 1,945 101,977 1,344,407 90,601,706 309,817 111,756 (99,273) (1,301,873) (1,363,619) 500,841 688 - - 9,120,779 (681,938) - - - (13,636,096) (181,097) 688 - - (4,515,317) 128,720 112,444 (99,273) (1,301,873) (5,878,936) 37,888 166,044 833,335 5,686,782 113,516,140 $ 166,608 $ 278,488 $ 734,062 $ 4,384,909 $ 107,637,204 (Continued) H-24 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL AFFORDABLE HOUSING PROGRAMS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 1,100 $ 1,100 $ 3,405 $ 2,305 Total Revenues 1,100 1,100 3,405 2,305 EXPENDITURES: Current: Economic Environment: Affordable Housing Initiatives 290,000 290,000 - 290,000 Total Expenditures 290,000 290,000 - 290,000 Excess/Deficiency of Revenues Over(Under) Expenditures (288,900) (288,900) 3,405 292,305 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (9,000) (9,000) - 9,000 Reserve for Cash Balance (14,000) (14,000) - 14,000 Total Other Financing Sources (Uses) (23,000) (23,000) - 23,000 Net Change in Fund Balances (311,900) (311,900) 3,405 315,305 Fund Balances -October 1 311,900 311,900 392,213 80,313 Fund Balances -September 30 $ - $ - $ 395,618 $ 395,618 H-25 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL ROAD AND BRIDGE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30,2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 2,598,000 $ 2,598,000 $ 2,376,104 $ (221,896) Intergovernmental 3,875,000 3,875,000 3,784,276 (90,724) Charges for Services 65,000 65,000 136,855 71,855 Investment Income 35,000 35,000 130,500 95,500 Miscellaneous 22,700 22,700 50,685 27,985 Total Revenues 6,595,700 6,595,700 6,478,420 (117,280) EXPENDITURES: Current: Transportation: Road Department 4,355,259 4,355,259 2,730,118 1,625,141 County Engineer Road and Bridge 476,016 499,016 475,213 23,803 Street Lighting 245,191 245,191 179,218 65,973 Local Option Gas Tax Projects 365,583 365,583 230,540 135,043 80% Gas Tax 500,000 500,000 39 499,961 Paving Backlog 3,256,276 3,256,276 2,215,487 1,040,789 Roadway Projects 1,500,000 1,500,000 - 1,500,000 Sugarloaf Blvd Bridge - 131,645 16,446 115,199 Sustainability Roads 950,000 1,552,606 80,857 1,471,749 Garrison Bight Bridge 29,570 29,570 2,985 26,585 Total Expenditures 11,677,895 12,435,146 5,930,903 6,504,243 Excess/Deficiency of Revenues Over(Under) Expenditures (5,082,195) (5,839,446) 547,517 6,386,963 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (991,160) (233,909) - 233,909 Reserve for Cash Balance (310,144) (310,144) - 310,144 Transfers to Other Funds (3,920,047) (3,920,047) (771,759) 3,148,288 Total Other Financing Sources (Uses) (5,221,351) (4,464,100) (771,759) 3,692,341 Net Change in Fund Balances (10,303,546) (10,303,546) (224,242) 10,079,304 Fund Balances -October 1 10,303,546 10,303,546 14,664,075 4,360,529 Fund Balances -September 30 $ - $ - $ 14,439,833 $ 14,439,833 H-26 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, ALL DISTRICTS, TWO CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 6,059,183 $ 6,059,183 $ 5,332,289 $ (726,894) Investment Income - - 42,310 42,310 Total Revenues 6,059,183 6,059,183 5,374,599 (684,584) EXPENDITURES: Current: Economic Environment: Cultural Umbrella 1,498,579 1,498,579 1,059,968 438,611 Fishing Umbrella 1,170,500 1,170,500 936,742 233,758 Dive Umbrella 1,100,000 1,100,000 950,944 149,056 Operations - Events 3,188,760 3,188,760 2,204,594 984,166 Catastrophic Emergency 1,827,833 1,827,833 - 1,827,833 Special Projects 1,074,340 1,074,340 624,072 450,268 Total Expenditures 9,860,012 9,860,012 5,776,320 4,083,692 Excess/Deficiency of Revenues Over(Under) Expenditures (3,800,829) (3,800,829) (401,721) 3,399,108 OTHER FINANCING SOURCES (USES): Transfers to Other Funds (58,182) (58,182) (100,767) (42,585) Transfers from Other Funds - - 58,249 58,249 Total Other Financing Sources (Uses) (58,182) (58,182) (42,518) 15,664 Net Change in Fund Balances (3,859,011) (3,859,011) (444,239) 3,414,772 Fund Balances -October 1 3,859,011 3,859,011 5,320,142 1,461,131 Fund Balances -September 30 $ - $ - $ 4,875,903 $ 4,875,903 H-27 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, ADMINISTRATION AND PROMOTIONAL, TWO CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 12,555,817 $ 12,555,817 $ 11,049,550 $ (1,506,267) Investment Income - - 40,412 40,412 Total Revenues 12,555,817 12,555,817 11,089,962 (1,465,855) EXPENDITURES: Current: Economic Environment: Advertising and Promotion 11,903,692 11,903,692 9,840,029 2,063,663 Administrative Services 1,458,430 1,458,430 808,397 650,033 Catastrophic Emergency 2,272,167 2,272,167 993,695 1,278,472 Special Projects 1,464,890 1,464,890 1,464,890 - Total Expenditures 17,099,179 17,099,179 13,107,011 3,992,168 Excess/Deficiency of Revenues Over(Under) Expenditures (4,543,362) (4,543,362) (2,017,049) 2,526,313 OTHER FINANCING SOURCES (USES): Transfers to Other Funds (39,610) (39,610) (57,447) (17,837) Transfers from Other Funds - - 108,177 108,177 Total Other Financing Sources (Uses) (39,610) (39,610) 50,730 90,340 Net Change in Fund Balances (4,582,972) (4,582,972) (1,966,319) 2,616,653 Fund Balances -October 1 4,582,972 4,582,972 8,214,874 3,631,902 Fund Balances -September 30 $ - $ - $ 6,248,555 $ 6,248,555 H-28 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT ONE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 10,446,737 $ 10,446,737 $ 9,653,986 $ (792,751) Investment Income - - 114,756 114,756 Total Revenues 10,446,737 10,446,737 9,768,742 (677,995) EXPENDITURES: Current: Economic Environment: Advertising and Promotion 5,264,115 5,264,115 4,658,104 606,011 Administrative Services 507,423 507,423 114,167 393,256 Special Events 853,421 853,421 387,835 465,586 Bricks and Mortar 11,524,842 11,524,842 4,354,127 7,170,715 Information Services 383,761 383,761 383,752 9 Beaches 314,047 314,047 - 314,047 Total Expenditures 18,847,609 18,847,609 9,897,985 8,949,624 Excess/Deficiency of Revenues Over(Under) Expenditures (8,400,872) (8,400,872) (129,243) 8,271,629 OTHER FINANCING SOURCES (USES): Transfers to Other Funds (59,799) (59,799) (59,799) - Transfers from Other Funds - - 98,942 98,942 Total Other Financing Sources (Uses) (59,799) (59,799) 39,143 98,942 Net Change in Fund Balances (8,460,671) (8,460,671) (90,100) 8,370,571 Fund Balances -October 1 8,460,671 8,460,671 12,279,409 3,818,738 Fund Balances -September 30 $ - $ - $ 12,189,309 $ 12,189,309 H-29 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT TWO SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 1,092,180 $ 1,092,180 $ 1,033,066 $ (59,114) Investment Income - - 10,707 10,707 Total Revenues 1,092,180 1,092,180 1,043,773 (48,407) EXPENDITURES: Current: Economic Environment: Advertising and Promotion 483,189 483,189 422,469 60,720 Administrative Services 20,517 20,517 10,135 10,382 Special Events 8,211 8,211 4,400 3,811 Bricks and Mortar 829,281 829,281 233,539 595,742 Information Services 95,760 95,760 95,760 - Total Expenditures 1,436,958 1,436,958 766,303 670,655 Excess/Deficiency of Revenues Over(Under) Expenditures (344,778) (344,778) 277,470 622,248 OTHER FINANCING SOURCES (USES): Transfers to Other Funds (23,290) (23,290) (23,442) (152) Transfers from Other Funds - - 10,135 10,135 Total Other Financing Sources (Uses) (23,290) (23,290) (13,307) 9,983 Net Change in Fund Balances (368,068) (368,068) 264,163 632,231 Fund Balances -October 1 368,068 368,068 977,618 609,550 Fund Balances -September 30 $ - $ - $ 1,241,781 $ 1,241,781 H-30 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT THREE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 2,857,924 $ 2,857,924 $ 2,125,104 $ (732,820) Investment Income - - 30,989 30,989 Total Revenues 2,857,924 2,857,924 2,156,093 (701,831) EXPENDITURES: Current: Economic Environment: Advertising and Promotion 1,518,528 1,518,528 1,289,511 229,017 Administrative Services 124,256 124,256 21,569 102,687 Special Events 63,384 63,384 32,859 30,525 Bricks and Mortar 3,379,496 3,379,496 815,860 2,563,636 Information Services 168,000 168,000 168,000 - Total Expenditures 5,253,664 5,253,664 2,327,799 2,925,865 Excess/Deficiency of Revenues Over(Under) Expenditures (2,395,740) (2,395,740) (171,706) 2,224,034 OTHER FINANCING SOURCES (USES): Transfers to Other Funds (16,356) (16,356) (16,656) (300) Transfers from Other Funds - - 21,569 21,569 Total Other Financing Sources (Uses) (16,356) (16,356) 4,913 21,269 Net Change in Fund Balances (2,412,096) (2,412,096) (166,793) 2,245,303 Fund Balances -October 1 2,412,096 2,412,096 3,539,202 1,127,106 Fund Balances -September 30 $ - $ - $ 3,372,409 $ 3,372,409 H-31 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT FOUR SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 1,980,636 $ 1,980,636 $ 1,223,602 $ (757,034) Investment Income - - 16,357 16,357 Total Revenues 1,980,636 1,980,636 1,239,959 (740,677) EXPENDITURES: Current: Economic Environment: Advertising and Promotion 989,780 989,780 869,708 120,072 Administrative Services 73,482 73,482 12,182 61,300 Special Events 142,088 142,088 61,919 80,169 Bricks and Mortar 1,775,297 1,775,297 160,078 1,615,219 Information Services 157,500 157,500 157,500 - Total Expenditures 3,138,147 3,138,147 1,261,387 1,876,760 Excess/Deficiency of Revenues Over(Under) Expenditures (1,157,511) (1,157,511) (21,428) 1,136,083 OTHER FINANCING SOURCES (USES): Transfers to Other Funds (12,023) (12,023) (12,273) (250) Transfers from Other Funds - - 12,182 12,182 Total Other Financing Sources (Uses) (12,023) (12,023) (91) 11,932 Net Change in Fund Balances (1,169,534) (1,169,534) (21,519) 1,148,015 Fund Balances -October 1 1,169,534 1,169,534 1,970,462 800,928 Fund Balances -September 30 $ - $ - $ 1,948,943 $ 1,948,943 H-32 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT FIVE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 2,237,523 $ 2,237,523 $ 2,346,082 $ 108,559 Investment Income - - 21,431 21,431 Total Revenues 2,237,523 2,237,523 2,367,513 129,990 EXPENDITURES: Current: Economic Environment: Advertising and Promotion 1,102,875 1,102,875 916,896 185,979 Administrative Services 45,980 45,980 23,599 22,381 Information Services 149,100 149,100 149,100 - Special Events 101,075 101,075 87,640 13,435 Bricks and Mortar 1,343,690 1,343,690 543,372 800,318 Total Expenditures 2,742,720 2,742,720 1,720,607 1,022,113 Excess/Deficiency of Revenues Over(Under) Expenditures (505,197) (505,197) 646,906 1,152,103 OTHER FINANCING SOURCES (USES): Transfers to Other Funds (37,424) (37,424) (37,724) (300) Transfers from Other Funds - - 23,599 23,599 Total Other Financing Sources (Uses) (37,424) (37,424) (14,125) 23,299 Net Change in Fund Balances (542,621) (542,621) 632,781 1,175,402 Fund Balances -October 1 542,621 542,621 1,881,997 1,339,376 Fund Balances -September 30 $ - $ - $ 2,514,778 $ 2,514,778 H-33 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - ROADWAYS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 42,000 $ 42,000 $ 83,884 $ 41,884 Investment Income 69,665 69,665 25,082 (44,583) Total Revenues 111,665 111,665 108,966 (2,699) EXPENDITURES: Current: Transportation: Roadway Projects 444,375 444,375 - 444,375 Truman Bridge Ped Bridge 929,520 929,520 - 929,520 Key Colony Beach Road Project 37,002 37,002 - 37,002 Total Expenditures 1,410,897 1,410,897 - 1,410,897 Excess/Deficiency of Revenues Over(Under) Expenditures (1,299,232) (1,299,232) 108,966 1,408,198 Net Change in Fund Balances (1,299,232) (1,299,232) 108,966 1,408,198 Fund Balances -October 1 1,299,232 1,299,232 1,423,814 124,582 Fund Balances -September 30 $ - $ - $ 1,532,780 $ 1,532,780 H-34 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - PARKS AND RECREATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 41,200 $ 41,200 $ 42,160 $ 960 Investment Income 1,200 1,200 5,983 4,783 Total Revenues 42,400 42,400 48,143 5,743 EXPENDITURES: Current: Culture and Recreation: District 1 Projects 175,541 175,541 - 175,541 District 2 Projects 244,076 244,076 - 244,076 District 3 Projects 153,304 153,304 - 153,304 Bay Point Park 18,656 18,656 - 18,656 Big Coppitt Park 6,645 6,645 - 6,645 Total Expenditures 598,222 598,222 - 598,222 Excess/Deficiency of Revenues Over(Under) Expenditures (555,822) (555,822) 48,143 603,965 Net Change in Fund Balances (555,822) (555,822) 48,143 603,965 Fund Balances -October 1 555,822 555,822 648,250 92,428 Fund Balances -September 30 $ - $ - $ 696,393 $ 696,393 H-35 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - LIBRARIES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 30,000 $ 30,000 $ 38,331 $ 8,331 Investment Income 2,700 2,700 10,146 7,446 Total Revenues 32,700 32,700 48,477 15,777 EXPENDITURES: Current: Culture and Recreation: County-wide Library Projects 1,142,048 1,142,048 - 1,142,048 Library Automation 25,000 25,000 - 25,000 Total Expenditures 1,167,048 1,167,048 - 1,167,048 Excess/Deficiency of Revenues Over(Under) Expenditures (1,134,348) (1,134,348) 48,477 1,182,825 Net Change in Fund Balances (1,134,348) (1,134,348) 48,477 1,182,825 Fund Balances -October 1 1,134,348 1,134,348 1,137,819 3,471 Fund Balances -September 30 $ - $ - $ 1,186,296 $ 1,186,296 H-36 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES -SOLID WASTE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 9,300 $ 9,300 $ 1,920 $ (7,380) Investment Income 150 150 893 743 Total Revenues 9,450 9,450 2,813 (6,637) EXPENDITURES: Current: Physical Environment: County-wide Solid Waste Projects 111,451 111,451 - 111,451 Total Expenditures 111,451 111,451 - 111,451 Excess/Deficiency of Revenues Over(Under) Expenditures (102,001) (102,001) 2,813 104,814 Net Change in Fund Balances (102,001) (102,001) 2,813 104,814 Fund Balances -October 1 102,001 102,001 99,534 (2,467) Fund Balances -September 30 $ - $ - $ 102,347 $ 102,347 H-37 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - POLICE FACILITIES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 24,000 $ 24,000 $ 3,285 $ (20,715) Investment Income 200 200 1,152 952 Total Revenues 24,200 24,200 4,437 (19,763) EXPENDITURES: Current: Public Safety: County-wide Police Facility 144,951 144,951 - 144,951 Total Expenditures 144,951 144,951 - 144,951 Excess/Deficiency of Revenues Over(Under) Expenditures (120,751) (120,751) 4,437 125,188 Net Change in Fund Balances (120,751) (120,751) 4,437 125,188 Fund Balances -October 1 120,751 120,751 124,711 3,960 Fund Balances -September 30 $ - $ - $ 129,148 $ 129,148 H-38 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - FIRE AND EMS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 15,700 $ 15,700 $ 13,581 $ (2,119) Investment Income 130 130 961 831 Total Revenues 15,830 15,830 14,542 (1,288) EXPENDITURES: Current: Public Safety: District 1 Fire & EMS Project 46,231 46,231 - 46,231 District Fire & EMS Project 2,100 2,100 - 2,100 District 3 Fire & EMS Project 52,944 52,944 - 52,944 Key Colony Beach Fire & EMS 1,109 1,109 - 1,109 Total Expenditures 102,384 102,384 - 102,384 Excess/Deficiency of Revenues Over(Under) Expenditures (86,554) (86,554) 14,542 101,096 Net Change in Fund Balances (86,554) (86,554) 14,542 101,096 Fund Balances -October 1 86,554 86,554 97,246 10,692 Fund Balances -September 30 $ - $ - $ 111,788 $ 111,788 H-39 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - EMPLOYEE FAIR SHARE HOUSING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 10,000 $ 10,000 $ - $ (10,000) Investment Income 275 275 262 (13) Total Revenues 10,275 10,275 262 (10,013) EXPENDITURES: Current: Economic Environment: District 1 Employee Fair Share Housing 20,000 20,000 - 20,000 District 3 Employee Fair Share Housing 24,732 24,732 - 24,732 Total Expenditures 44,732 44,732 - 44,732 Excess/Deficiency of Revenues Over(Under) Expenditures (34,457) (34,457) 262 34,719 Net Change in Fund Balances (34,457) (34,457) 262 34,719 Fund Balances -October 1 34,457 34,457 44,492 10,035 Fund Balances -September 30 $ - $ - $ 44,754 $ 44,754 H-40 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FIRE AND AMBULANCE DISTRICT ONE - LOWER AND MIDDLE KEYS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 11,933,696 $ 11,933,696 $ 11,516,763 $ (416,933) Intergovernmental 33,000 131,195 124,268 (6,927) Charges for Services 600,000 600,000 638,217 38,217 Investment Income 27,500 27,500 91,265 63,765 Miscellaneous - - 6,258 6,258 Total Revenues 12,594,196 12,692,391 12,376,771 (315,620) EXPENDITURES: Current: Public Safety: Fire Rescue - Central 11,784,191 12,564,837 12,216,970 (347,867) Total Public Safety 11,784,191 12,564,837 12,216,970 (347,867) Excess/Deficiency of Revenues Over(Under) Expenditures 810,005 127,554 159,801 32,247 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (734,255) - - - Reserve for Cash Balance (1,391,052) (1,391,052) - 1,391,052 Transfers to Other Funds (1,459,636) (1,511,440) (1,057,181) 454,259 Transfers from Other Funds 180,000 180,000 201,771 21,771 Total Other Financing Sources (Uses) (3,404,943) (2,722,492) (855,410) 1,867,082 Net Change in Fund Balances (2,594,938) (2,594,938) (695,609) 1,899,329 Fund Balances -October 1 2,594,938 2,594,938 5,021,010 2,426,072 Fund Balances -September 30 $ - $ - $ 4,325,401 $ 4,325,401 H-41 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL UNINCORPORATED AREA SERVICE DISTRICT- PARKS AND RECREATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 1,887,131 $ 1,887,131 $ 1,840,080 $ (47,051) Intergovernmental - - 5,422 5,422 Charges for Services 45,000 45,000 - (45,000) Investment Income 4,000 4,000 14,309 10,309 Miscellaneous 60,000 60,000 40,826 (19,174) Total Revenues 1,996,131 1,996,131 1,900,637 (95,494) EXPENDITURES: Current: Culture and Recreation: Parks and Beaches Unincorporated 1,962,880 1,962,880 1,622,207 340,673 Jacob's Aquatic Center 180,000 180,000 180,000 - School Board Interlocal 32,000 32,000 25,790 6,210 Total Expenditures 2,174,880 2,174,880 1,827,997 346,883 Excess/Deficiency of Revenues Over(Under) Expenditures (178,749) (178,749) 72,640 251,389 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (191,021) (191,021) - 191,021 Transfers to Other Funds (219,232) (219,232) (54,040) 165,192 Transfers from Other Funds - - 27,549 27,549 Total Other Financing Sources (Uses) (410,253) (410,253) (26,491) 383,762 Net Change in Fund Balances (589,002) (589,002) 46,149 635,151 Fund Balances -October 1 589,002 589,002 725,252 136,250 Fund Balances -September 30 $ - $ - $ 771,401 $ 771,401 H-42 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL UNINCORPORATED AREA SERVICE DISTRICT- PLANNING, BUILDING, AND ZONING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 615,000 $ 615,000 $ 585,882 $ (29,118) Intergovernmental 1,327,000 1,327,000 1,270,889 (56,111) Charges for Services 2,665,000 2,665,000 2,790,277 125,277 Fines and Forfeitures 1,300,000 1,300,000 2,387,225 1,087,225 Investment Income 25,000 25,000 88,585 63,585 Miscellaneous - - 4,680 4,680 Total Revenues 5,932,000 5,932,000 7,127,538 1,195,538 Expenditures: Current: General Government: Growth Mgmt County Attorney 216,075 216,050 211,769 4,281 Affordable Housing - 100,000 2,638 97,362 Planning Department 2,367,833 2,267,833 1,980,170 287,663 Planning Commission 88,390 88,390 60,525 27,865 Planning Legal 577,274 577,299 314,833 262,466 Planning Building Refunds 62,000 62,000 11,816 50,184 Total General Government 3,311,572 3,311,572 2,581,751 729,821 Public Safety: Code Enforcement 1,796,905 1,796,905 1,355,102 441,803 Fire and Rescue Coordinator 908,403 908,404 820,464 87,940 Fire Marshall 469,978 494,977 481,996 12,981 Total Public Safety 3,175,286 3,200,286 2,657,562 542,724 Physical Environment: Environmental Resources 890,948 890,948 884,311 6,637 Total Physical Environment 890,948 890,948 884,311 6,637 Total Expenditures 7,377,806 7,402,806 6,123,624 1,279,182 Excess/Deficiency of Revenues Over(Under) Expenditures (1,445,806) (1,470,806) 1,003,914 2,474,720 (Continued) H-43 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) UNINCORPORATED AREA SERVICE DISTRICT- PLANNING, BUILDING, AND ZONING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) OTHER FINANCING SOURCES (USES): Reserve for Contingencies (498,307) (470,090) - 470,090 Reserve for Cash Balance (1,440,906) (1,440,906) - 1,440,906 Transfers to Other Funds (1,584,462) (1,587,679) (1,606,465) (18,786) Transfers from Other Funds 10,000 10,000 4,801 (5,199) Total Other Financing Sources (Uses) (3,513,675) (3,488,675) (1,601,664) 1,887,011 Net Change in Fund Balances (4,959,481) (4,959,481) (597,750) 4,361,731 Fund Balances -October 1 4,959,481 4,959,481 9,678,023 4,718,542 Fund Balances -September 30 $ - $ - $ 9,080,273 $ 9,080,273 H-44 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL MUNICIPAL POLICING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 4,117,003 $ 4,117,003 $ 4,015,150 $ (101,853) Charges for Services 3,771,386 3,771,386 3,578,357 (193,029) Investment Income 8,500 8,500 24,737 16,237 Total Revenues 7,896,889 7,896,889 7,618,244 (278,645) EXPENDITURES: Current: Public Safety: Insurance Unincorporated and Layton 675,698 675,698 646,222 29,476 Insurance Islamorada 281,046 281,046 267,102 13,944 Insurance Marathon 250,580 250,580 240,088 10,492 Total Expenditures 1,207,324 1,207,324 1,153,412 53,912 Excess/Deficiency of Revenues Over(Under) Expenditures 6,689,565 6,689,565 6,464,832 (224,733) OTHER FINANCING SOURCES (USES): Reserve for Contingencies (199,317) (190,039) - 190,039 Reserve for Cash Balance (944,000) (944,000) - 944,000 Transfers to Other Funds (7,192,646) (7,276,392) (7,274,010) 2,382 Transfers from Other Funds 280,532 355,000 321,342 (33,658) Total Other Financing Sources (Uses) (8,055,431) (8,055,431) (6,952,668) 1,102,763 Net Change in Fund Balances (1,365,866) (1,365,866) (487,836) 878,030 Fund Balances -October 1 1,365,866 1,365,866 2,229,038 863,172 Fund Balances -September 30 $ - $ - $ 1,741,202 $ 1,741,202 H-45 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL DUCK KEY SECURITY DISTRICT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 96,096 $ 96,096 $ 93,135 $ (2,961) Investment Income 1,100 1,100 3,214 2,114 Total Revenues 97,196 97,196 96,349 (847) EXPENDITURES: Current: Public Safety: Island Security 255,000 255,000 142,700 112,300 Total Expenditures 255,000 255,000 142,700 112,300 Excess/Deficiency of Revenues Over(Under) Expenditures (157,804) (157,804) (46,351) 111,453 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (35,000) (35,000) - 35,000 Reserve for Cash Balance (70,000) (70,000) - 70,000 Transfers to Other Funds (2,250) (2,250) (1,000) 1,250 Total Other Financing Sources (Uses) (107,250) (107,250) (1,000) 106,250 Net Change in Fund Balances (265,054) (265,054) (47,351) 217,703 Fund Balances -October 1 265,054 265,054 369,466 104,412 Fund Balances -September 30 $ - $ - $ 322,115 $ 322,115 H-46 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LOCAL HOUSING ASSISTANCE FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 420,000 $ 1,497,858 $ 1,440,976 $ (56,882) Investment Income 4,500 4,500 26,951 22,451 Miscellaneous 180,000 180,000 131,010 (48,990) Total Revenues 604,500 1,682,358 1,598,937 (83,421) EXPENDITURES: Current: Economic Environment: Homeowner Assistance 1,459,983 2,537,841 225,717 2,312,124 Fair Housing 15,000 15,000 - 15,000 Administration 106,243 106,243 43,878 62,365 Total Expenditures 1,581,226 2,659,084 269,595 2,389,489 Excess/Deficiency of Revenues Over(Under) Expenditures (976,726) (976,726) 1,329,342 2,306,068 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (15,000) (15,000) - 15,000 Reserve for Cash Balance (15,000) (15,000) - 15,000 Total Other Financing Sources (Uses) (30,000) (30,000) - 30,000 Net Change in Fund Balances (1,006,726) (1,006,726) 1,329,342 2,336,068 Fund Balances -October 1 1,006,726 1,006,726 1,513,701 506,975 Fund Balances -September 30 $ - $ - $ 2,843,043 $ 2,843,043 H-47 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BOATING IMPROVEMENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 740,000 $ 740,000 $ 749,271 $ 9,271 Investment Income 7,000 7,000 27,201 20,201 Miscellaneous - - 3,657 3,657 Total Revenues 747,000 747,000 780,129 33,129 EXPENDITURES: Current: Physical Environment: Boating Improvement 1,447,667 1,447,667 243,767 1,203,900 Boating Imp Fees/Retained Vessel 489,379 339,851 159,914 179,937 Total Expenditures 1,937,046 1,787,518 403,681 1,383,837 Excess/Deficiency of Revenues Over(Under) Expenditures (1,190,046) (1,040,518) 376,448 1,416,966 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (230,110) (230,110) - 230,110 Reserve for Cash Balance (346,244) (346,244) - 346,244 Transfers to Other Funds - (149,528) (44,542) 104,986 Total Other Financing Sources (Uses) (576,354) (725,882) (44,542) 681,340 Net Change in Fund Balances (1,766,400) (1,766,400) 331,906 2,098,306 Fund Balances -October 1 1,766,400 1,766,400 2,799,729 1,033,329 Fund Balances -September 30 $ - $ - $ 3,131,635 $ 3,131,635 H-48 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL MISCELLANEOUS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ - $ 108,037 $ 108,037 $ - Charges for Services - 342,776 389,247 46,471 Fines and Forfeitures - 80,696 194,232 113,536 Investment Income - - 28,168 28,168 Miscellaneous - - 1,120 1,120 Total Revenues - 531,509 720,804 189,295 EXPENDITURES: Current: General Government: Conservation Land Purchase 50,000 50,000 - 50,000 Legal Scholar Program 600 577 577 - Total General Government 50,600 50,577 577 50,000 Public Safety: Education-Building Department 23,400 60,611 35,993 24,618 Environmental Resource Education 40,000 105,646 43,731 61,915 Fire and Rescue Bldg Education 5,000 10,180 7,764 2,416 Crime Prevention Program 50,000 50,000 - 50,000 Total Public Safety 118,400 226,437 87,488 138,949 Human Services: FL Keys Council for the Handicapped 3,000 6,186 - 6,186 Bayshore Donations 1,557 1,557 96 1,461 Traffic Education, Ord 021-2002 50,000 217,592 192,794 24,798 Legal Aid - 29,409 29,409 - Total Human Services 54,557 254,744 222,299 32,445 Culture and Recreation: Settler's Park Landscaping 2,633 2,633 - 2,633 Library Special Programs 30,000 58,525 3,214 55,311 Library Donation-Golan Trust 250,000 291,537 - 291,537 Total Culture and Recreation 282,633 352,695 3,214 349,481 (Continued) H-49 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) MISCELLANEOUS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Court Related: Ord 016-2004 St Court Sup 15,000 84,068 14,005 70,063 SA Ct Tech FS28.24(12)(E) 375,000 564,260 138,176 426,084 PD Ct Tech FS28.24(12)(E) 50,000 93,839 53,789 40,050 J Ct Tech FS28.24(12)(E) 59,719 454,162 58,399 395,763 Total Court Related 499,719 1,196,329 264,369 931,960 Total Expenditures 1,005,909 2,080,782 577,947 1,502,835 Excess/Deficiency of Revenues Over(Under) Expenditures (1,005,909) (1,549,273) 142,857 1,692,130 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (692,080) (89,898) - 89,898 Transfers to Other Funds (140,000) (198,818) (143,415) 55,403 Transfers from Other Funds - - 4,029 4,029 Total Other Financing Sources (Uses) (832,080) (288,716) (139,386) 149,330 Net Change in Fund Balances (1,837,989) (1,837,989) 3,471 1,841,460 Fund Balances -October 1 1,837,989 1,837,989 3,075,735 1,237,746 Fund Balances -September 30 $ - $ - $ 3,079,206 $ 3,079,206 H-50 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL ENVIRONMENTAL RESTORATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Fines and Forfeitures $ 455,000 $ 455,000 $ 746,450 $ 291,450 Investment Income 5,500 5,500 23,725 18,225 Total Revenues 460,500 460,500 770,175 309,675 EXPENDITURES: Current: Physical Environment: Environmental Restoration 456,522 396,522 302,463 94,059 Total Environmental Restoration 456,522 396,522 302,463 94,059 Culture and Recreation: Settler's Park 9,083 9,083 - 9,083 Total Culture and Recreation 9,083 9,083 - 9,083 Total Expenditures 465,605 405,605 302,463 103,142 Excess/Deficiency of Revenues Over(Under) Expenditures (5,105) 54,895 467,712 412,817 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (55,000) (55,000) - 55,000 Reserve for Cash Balance (112,495) (112,495) - 112,495 Transfers to Other Funds - (60,000) (25,685) 34,315 Total Other Financing Sources (Uses) (167,495) (227,495) (25,685) 201,810 Net Change in Fund Balances (172,600) (172,600) 442,027 614,627 Fund Balances -October 1 172,600 172,600 2,297,016 2,124,416 Fund Balances -September 30 $ - $ - $ 2,739,043 $ 2,739,043 H-51 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL COURT FACILITY FEES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 490,000 $ 490,000 $ 413,393 $ (76,607) Investment Income 5,000 5,001 33,013 28,012 Total Revenues 495,000 495,001 446,406 (48,595) EXPENDITURES: Current: Court Related: Court Facility 391,765 391,766 168,011 223,755 Total Expenditures 391,765 391,766 168,011 223,755 Excess/Deficiency of Revenues Over(Under) Expenditures 103,235 103,235 278,395 175,160 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (33,485) (33,485) - 33,485 Reserve for Cash Balance (45,000) (45,000) - 45,000 Total Other Financing Sources (Uses) (78,485) (78,485) - 78,485 Net Change in Fund Balances 24,750 24,750 278,395 253,645 Fund Balances -October 1 (24,750) (24,750) 3,546,467 3,571,217 Fund Balances -September 30 $ - $ - $ 3,824,862 $ 3,824,862 H-52 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL DRUG ABUSE TRUST SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 30,000 $ 30,000 $ 31,236 $ 1,236 Investment Income 500 500 533 33 Total Revenues 30,500 30,500 31,769 1,269 EXPENDITURES: Current: Human Services: Drug Abuse Trust Fund 100,000 100,000 58,696 41,304 Total Expenditures 100,000 100,000 58,696 41,304 Excess/Deficiency of Revenues Over (Under) Expenditures (69,500) (69,500) (26,927) 42,573 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (7,000) (7,000) - 7,000 Reserve for Cash Balance (12,000) (12,000) - 12,000 Total Other Financing Sources (Uses) (19,000) (19,000) - 19,000 Net Change in Fund Balances (88,500) (88,500) (26,927) 61,573 Fund Balances -October 1 88,500 88,500 85,478 (3,022) Fund Balances -September 30 $ - $ - $ 58,551 $ 58,551 H-53 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL MARATHON MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 31 $ 31 Total Revenues - - 31 31 EXPENDITURES: Current: Physical Environment: Marathon Wastewater 1,101 1,101 - 1,101 Total Expenditures 1,101 1,101 - 1,101 Excess/Deficiency of Revenues Over(Under) Expenditures (1,101) (1,101) 31 1,132 OTHER FINANCING SOURCES (USES): Transfers to Other Funds (200) (200) - 200 Reserve for Contingencies (181) (181) - 181 Total Other Financing Sources (Uses) (381) (381) - 381 Net Change in Fund Balances (1,482) (1,482) 31 1,513 Fund Balances -October 1 1,482 1,482 2,570 1,088 Fund Balances -September 30 $ - $ - $ 2,601 $ 2,601 H-54 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BAY POINT MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 394 $ 394 Total Revenues - - 394 394 EXPENDITURES: Current: Physical Environment: Bay Point Wastewater 29,200 29,200 591 28,609 Total Expenditures 29,200 29,200 591 28,609 Excess/Deficiency of Revenues Over(Under) Expenditures (29,200) (29,200) (197) 29,003 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (1,898) (1,898) - 1,898 Reserve for Cash Balance (3,586) (3,586) - 3,586 Total Other Financing Sources (Uses) (5,484) (5,484) - 5,484 Net Change in Fund Balances (34,684) (34,684) (197) 34,487 Fund Balances -October 1 34,684 34,684 46,405 11,721 Fund Balances -September 30 $ - $ - $ 46,208 $ 46,208 H-55 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BIG COPPITT MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ - $ - $ - $ - Investment Income - - 5 5 Total Revenues - - 5 5 EXPENDITURES: Current: Physical Environment: Big Coppitt Wastewater 80 80 - 80 Total Expenditures 80 80 - 80 Excess/Deficiency of Revenues Over(Under) Expenditures (80) (80) 5 85 OTHER FINANCING SOURCES (USES): Reserve for Cash Balance (60) (60) - 60 Reserve for Contingencies - - - - Total Other Financing Sources (Uses) (60) (60) - 60 Net Change in Fund Balances (140) (140) 5 145 Fund Balances -October 1 140 140 607 467 Fund Balances -September 30 $ - $ - $ 612 $ 612 H-56 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL KEY LARGO MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ - $ - $ 1,052 $ 1,052 Investment Income - - 70 70 Total Revenues - - 1,122 1,122 EXPENDITURES: Current: Physical Environment: Key Largo Wastewater 4,021 4,021 32 3,989 Total Expenditures 4,021 4,021 32 3,989 Excess/Deficiency of Revenues Over(Under) Expenditures (4,021) (4,021) 1,090 5,111 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (300) (300) - 300 Reserve for Cash (600) (600) - 600 Transfers from Other Funds - - 16 16 Total Other Financing Sources (Uses) (900) (900) 16 916 Net Change in Fund Balances (4,921) (4,921) 1,106 6,027 Fund Balances -October 1 4,921 4,921 6,653 1,732 Fund Balances -September 30 $ - $ - $ 7,759 $ 7,759 H-57 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL STOCK ISLAND WASTEWATER MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUNC FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 42,000 $ 135,278 $ 724,845 $ 589,567 Investment Income 1,700 1,700 22,409 20,709 Miscellaneous Income - - 6,532 6,532 Total Revenues 43,700 136,978 753,786 616,808 EXPENDITURES: Current: Physical Environment: Stock Island Wastewater 375,000 668,487 445,075 223,412 Total Expenditures 375,000 668,487 445,075 223,412 Excess/Deficiency of Revenues Over(Under) Expenditures (331,300) (531,509) 308,711 840,220 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (55,000) - - - Reserve for Cash Balance (100,936) (30,013) - 30,013 Transfers to Other Funds (1,500) (1,500) (1,000) 500 Transfers from Other Funds 425 425 1,019 594 Total Other Financing Sources (Uses) (157,011) (31,088) 19 31,107 Net Change in Fund Balances (488,311) (562,597) 308,730 871,327 Fund Balances -October 1 488,311 562,597 595,727 33,130 Fund Balances -September 30 $ - $ - $ 904,457 $ 904,457 H-58 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CONCH KEY MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 5 $ 5 Total Revenues - - 5 5 EXPENDITURES: Current: Physical Environment: Conch Key MSTU 400 400 - 400 Total Expenditures 400 400 - 400 Excess/Deficiency of Revenues Over(Under) Expenditures (400) (400) 5 405 Other Financing Sources/(Uses): Reserve for Contingencies (78) (78) - 78 Total Other Financing Sources/(Uses) (78) (78) - 78 Net Change in Fund Balances (478) (478) 5 483 Fund Balances -October 1 478 478 480 2 Fund Balances -September 30 $ - $ - $ 485 $ 485 H-59 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LONG KEY-LAYTON MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ - $ - $ - $ - Investment Income - - 2,283 2,283 Total Revenues - - 2,283 2,283 EXPENDITURES: Current: Physical Environment: Long Key-Layton Wastewater 153,700 153,700 4,216 149,484 Total Expenditures 153,700 153,700 4,216 149,484 Excess/Deficiency of Revenues Over(Under) Expenditures (153,700) (153,700) (1,933) 151,767 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (15,000) (15,000) - 15,000 Reserve for Cash Balance (32,436) (32,436) - 32,436 Total Other Financing Sources (Uses) (47,436) (47,436) - 47,436 Net Change in Fund Balances (201,136) (201,136) (1,933) 199,203 Fund Balances -October 1 201,136 201,136 259,062 57,926 Fund Balances -September 30 $ - $ - $ 257,129 $ 257,129 H-60 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL DUCK KEY MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 501 $ 501 Total Revenues - - 501 501 EXPENDITURES: Current: Physical Environment: Duck Key Wastewater 33,490 33,490 - 33,490 Total Expenditures 33,490 33,490 - 33,490 Excess/Deficiency of Revenues Over(Under) Expenditures (33,490) (33,490) 501 33,991 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (4,500) (4,500) - 4,500 Reserve for Cash Balance (9,300) (9,300) - 9,300 Total Other Financing Sources (Uses) (13,800) (13,800) - 13,800 Net Change in Fund Balances (47,290) (47,290) 501 47,791 Fund Balances -October 1 47,290 47,290 58,262 10,972 Fund Balances -September 30 $ - $ - $ 58,763 $ 58,763 H-61 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BUILDING FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 4,650,000 $ 4,650,000 $ 4,833,229 $ 183,229 Charges for Services 120,000 120,000 106,479 (13,521) Investment Income 9,000 9,000 25,444 16,444 Miscellaneous 30,000 30,000 23,177 (6,823) Total Revenues 4,809,000 4,809,000 4,988,329 179,329 EXPENDITURES: Current: Public Safety Building Department 6,185,761 6,185,761 5,959,154 226,607 Building Department Legal 62,551 62,551 60,159 2,392 Building Refunds 30,000 130,000 81,825 48,175 Total Expenditures 6,278,312 6,378,312 6,101,138 277,174 Excess/Deficiency of Revenues Over(Under) Expenditures (1,469,312) (1,569,312) (1,112,809) 456,503 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (200,000) (100,000) - 100,000 Reserve for Cash Balance (278,929) (278,929) - 278,929 Transfer to Other Funds (509,033) (509,033) - 509,033 Total Other Financing Sources (Uses) (987,962) (887,962) - 887,962 Net Change in Fund Balances (2,457,274) (2,457,274) (1,112,809) 1,344,465 Fund Balances -October 1 2,457,274 2,457,274 3,735,116 1,277,842 Fund Balances -September 30 $ - $ - $ 2,622,307 $ 2,622,307 H-62 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CLERK'S REVENUE NOTE CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 1,068 $ 1,068 Total Revenues - - 1,068 1,068 EXPENDITURES: Capital Projects 100,000 100,000 - 100,000 Total Expenditures 100,000 100,000 - 100,000 Excess/Deficiency of Revenues Over(Under) Expenditures (100,000) (100,000) 1,068 101,068 Net Change in Fund Balances (100,000) (100,000) 1,068 101,068 Fund Balances -October 1 100,000 100,000 105,187 5,187 Fund Balances -September 30 $ - $ - $ 106,255 $ 106,255 H-63 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL INFRASTRUCTURE REVENUE BONDS SERIES 2007 CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 21,031 $ 21,031 Total Revenues - - 21,031 21,031 EXPENDITURES: Capital Projects 70,000 439,200 435,792 3,408 Total Expenditures 70,000 439,200 435,792 3,408 Excess/Deficiency of Revenues Over(Under) Expenditures (70,000) (439,200) (414,761) 24,439 OTHER FINANCING SOURCES (USES): Reserve for Contingencies - (252,003) - 252,003 Transfer to Other Funds - (500,000) (500,000) - Total Other Financing Sources (Uses) - (752,003) (500,000) 252,003 Net Change in Fund Balances (70,000) (1,191,203) (914,761) 276,442 Fund Balances -October 1 70,000 1,191,203 1,192,359 1,156 Fund Balances -September 30 $ - $ - $ 277,598 $ 277,598 H-64 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL BIG COPPITT WASTEWATER CAPITAL PROJECT FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 475,000 $ 475,000 $ 221,448 $ (253,552) Investment Income 10,000 10,000 78,438 68,438 Miscellaneous Income - - 31,049 31,049 Total Revenues 485,000 485,000 330,935 (154,065) EXPENDITURES: Current: Capital Outlay: Physical Environment: Big Coppitt Refunds 5,000 5,000 - 5,000 Big Coppitt Special Assessment 68,500 68,500 21,118 47,382 Total Physical Environment 73,500 73,500 21,118 52,382 Excess/Deficiency of Revenues Over(Under) Expenditures 411,500 411,500 309,817 (101,683) OTHER FINANCING SOURCES (USES): Reserve for Contingencies - (475,000) - 475,000 Transfers from Other Funds - 500,000 500,841 841 Transfers to Other Funds (682,000) (682,000) (681,938) 62 Total Other Financing Sources (Uses) (682,000) (657,000) (181,097) 475,903 Net Change in Fund Balances (270,500) (245,500) 128,720 374,220 Fund Balances -October 1 270,500 245,500 37,888 (207,612) Fund Balances -September 30 $ - $ - $ 166,608 $ 166,608 H-65 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL DUCK KEY WASTEWATER PROJECT CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 80,000 $ 80,000 $ 90,475 $ 10,475 Investment Income 3,500 3,500 16,694 13,194 Miscellaneous - - 6,532 6,532 Total Revenues 83,500 83,500 113,701 30,201 EXPENDITURES: Capital Projects 35,000 35,000 1,945 33,055 Total Expenditures 35,000 35,000 1,945 33,055 Excess/Deficiency of Revenues Over(Under) Expenditures 48,500 48,500 111,756 63,256 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (99,100) (99,100) - 99,100 Reserve for Cash Balance (28,224) (28,224) - 28,224 Transfer From Other Funds - - 688 688 Total Other Financing Sources (Uses) (127,324) (127,324) 688 128,012 Net Change in Fund Balances (78,824) (78,824) 112,444 191,268 Fund Balances -October 1 78,824 78,824 166,044 87,220 Fund Balances -September 30 $ - $ - $ 278,488 $ 278,488 H-66 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LONG KEY WASTEWATER PROJECT CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 2,704 $ 2,704 Total Revenues - - 2,704 2,704 EXPENDITURES: Capital Projects 350,000 350,000 101,977 248,023 Total Expenditures 350,000 350,000 101,977 248,023 Excess/Deficiency of Revenues Over(Under) Expenditures (350,000) (350,000) (99,273) 250,727 Net Change in Fund Balances (350,000) (350,000) (99,273) 250,727 Fund Balances -October 1 350,000 350,000 833,335 483,335 Fund Balances -September 30 $ - $ - $ 734,062 $ 734,062 H-67 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LAND ACQUISITION FUND CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 42,534 $ 42,534 Total Revenues - - 42,534 42,534 EXPENDITURES: Capital Projects 6,000,000 6,000,000 1,344,407 4,655,593 Total Expenditures 6,000,000 6,000,000 1,344,407 4,655,593 Excess/Deficiency of Revenues Over(Under) Expenditures (6,000,000) (6,000,000) (1,301,873) 4,698,127 Net Change in Fund Balances (6,000,000) (6,000,000) (1,301,873) 4,698,127 Fund Balances -October 1 6,000,000 6,000,000 5,686,782 (313,218) Fund Balances -September 30 $ - $ - $ 4,384,909 $ 4,384,909 H-68 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S TEEN COURT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 50,000 $ 50,000 $ 44,548 $ (5,452) EXPENDITURES: Current: Public Safety 60,000 60,000 59,554 446 Excess/(Deficiency) of Revenues Over/(Under) Expenditures (10,000) (10,000) (15,006) (5,006) Net Change in Fund Balances (10,000) (10,000) (15,006) (5,006) Fund Balances -October 1 50,541 50,541 50,541 - Fund Balances -September 30 $ 40,541 $ 40,541 $ 35,535 $ (5,006) H-69 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S FEDERAL FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ - $ - $ 157,531 $ 157,531 Investment Income - - 45,742 45,742 Total Revenues - - 203,273 203,273 EXPENDITURES: Current: Public Safety: Law Enforcement 1,907,000 1,610,000 1,610,181 (181) Total Expenditures 1,907,000 1,610,000 1,610,181 (181) Excess/(Deficiency) of Revenues Over/(Under) Expenditures (1,907,000) (1,610,000) (1,406,908) 203,092 Other Financing Sources/(Uses): Transfers to Other Funds - (10,000) (5,162) 4,838 Net Change in Fund Balances (1,907,000) (1,620,000) (1,412,070) 207,930 Fund Balances -October 1 4,579,840 4,579,840 4,579,840 -- Fund Balances -September 30 $ 2,672,840 $ 2,959,840 $ 3,167,770 $ 207,930 H-70 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S STATE FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Fines and Forfeitures $ 130,500 $ 29,000 $ 28,697 $ (303) Investment Income 500 500 5,567 5,067 Total Revenues 131,000 29,500 34,264 4,764 EXPENDITURES: Current: Public Safety: Law Enforcement 131,000 29,500 64,691 (35,191) Total Expenditures 131,000 29,500 64,691 (35,191) Excess/(Deficiency) of Revenues Over/(Under) Expenditures - - (30,427) (30,427) Net Change in Fund Balances - - (30,427) (30,427) Fund Balances -October 1 - - 634,050 634,050 Fund Balances -September 30 $ - $ - $ 603,623 $ 603,623 H-71 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S CONTRACT ADMINISTRATIVE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 365,000 $ 485,000 $ 485,473 $ 473 Charges for Services 3,250,000 3,560,000 3,554,579 (5,421) Investment Income 5,000 10,000 10,033 33 Miscellaneous Income - - - - Total Revenues 3,620,000 41055,000 4,050,085 (4,915) EXPENDITURES: Current: Public Safety 3,660,000 3,981,000 3,972,763 8,237 Total Expenditures 3,660,000 3,981,000 3,972,763 8,237 Excess/(Deficiency) of Revenues Over/(Under) Expenditures (40,000) 74,000 77,322 3,322 OTHER FINANCING SOURCES/(USES): Transfers from Other Funds - - 1,917 1,917 Total other financing sources (uses) - - 1,917 1,917 Net Change in Fund Balances (40,000) 74,000 79,239 5,239 Fund Balances -October 1 1,212,885 1,212,885 1,212,885 - Fund Balances -September 30 $ 1,172,885 $ 1,286,885 $ 1,292,124 $ 5,239 H-72 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S COMMISSARY SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 448,000 $ 481,000 $ 474,559 $ (6,441) Investment Income 3,200 5,200 10,261 5,061 Miscellaneous 13,800 13,800 12,248 (1,552) Total Revenues 465,000 500,000 497,068 (2,932) EXPENDITURES: Current: Public Safety 400,000 412,500 403,251 9,249 Excess/(Deficiency) of Revenues Over/(Under) Expenditures 65,000 87,500 93,817 6,317 Net Change in Fund Balances 65,000 87,500 93,817 6,317 Fund Balances -October 1 700,282 700,282 700,282 - Fund Balances -September 30 $ 765,282 $ 787,782 $ 794,099 $ 6,317 H-73 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S INTERAGENCY COMMUNICATIONS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 25,000 $ 28,000 $ 28,412 $ 412 Investment Income 5,000 5,000 5,532 532 Total Revenues 30,000 33,000 33,944 944 EXPENDITURES: Current: Public Safety 170,000 165,000 162,282 2,718 Total Expenditures 170,000 165,000 162,282 2,718 Excess/(Deficiency) of Revenues Over/(Under) Expenditures (140,000) (132,000) (128,338) 3,662 OTHER FINANCING SOURCES/(USES): Transfers from Other Funds 130,000 115,000 113,536 (1,464) Net Change in Fund Balances (10,000) (17,000) (14,802) 2,198 Fund Balances -October 1 407,374 407,374 407,374 - Fund Balances -September 30 $ 397,374 $ 390,374 $ 392,572 $ 2,198 H-74 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S TRAUMA STAR SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) EXPENDITURES: Current: Public Safety $ 3,873,082 $ 6,430,357 $ 5,315,472 $ 1,114,885 Excess/(Deficiency) of Revenues Over/(Under) Expenditures (3,873,082) (6,430,357) (5,315,472) 1,114,885 OTHER FINANCING SOURCES/(USES): Transfers from Other Funds 3,873,082 6,430,357 5,315,472 1,114,885 Transfers to Other Funds - - - - Total Other Financing Sources/Uses 3,873,082 61430,357 5,315,472 1,114,885 Net Change in Fund Balances - - - - Fund Balances -October 1 - - - - Fund Balances -September 30 $ - $ - $ - $ - H-75 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S RADIO COMMUNICATIONS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ - $ - $ 79,814 $ 79,814 EXPENDITURES: Current: Public Safety 630,624 1,180,624 1,091,366 89,258 Excess/(Deficiency) of Revenues Over/(Under) Expenditures (630,624) (1,180,624) (1,011,55?) 169,072 OTHER FINANCING SOURCES/(USES): Transfers from Other Funds 630,624 1,180,624 1,100,810 (79,814) Transfers to Other Funds - - (89,258) (89,258) Total Other Financing Sources/Uses 630,624 11180,624 1,011,552 (169,072) Net Change in Fund Balances - - - - Fund Balances -October 1 - - - - Fund Balances -September 30 $ - $ - $ - $ - H-76 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S SHARED ASSET FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 90,000 $ 120,000 $ 119,298 $ (702) EXPENDITURES: Current: Public Safety: Law Enforcement 1,000 750 599 151 Grants and Aid 140,000 195,000 193,866 1,134 Loss on Investments - 187,000 186,473 527 Total Expenditures 141,000 382,750 380,938 1,812 Excess/Deficiency of Revenues Over (Under) Expenditures (51,000) (262,750) (261,640) (2,514) Net Change in Fund Balances (51,000) (262,750) (261,640) 1,110 Fund Balances -October 1 4,899,131 4,899,131 4,899,131 - Fund Balances -September 30 $ 4,848,131 $ 4,636,381 $ 4,637,491 $ 1,110 H-77 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S E911 SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 480,000 $ 515,000 $ 463,135 $ (51,865) Investment Income 20,000 25,000 24,474 (526) Total Revenues 500,000 540,000 487,609 (52,391) EXPENDITURES: Current: Public Safety 675,000 674,000 613,869 60,131 Excess/Deficiency of Revenues Over (Under) Expenditures (175,000) (134,000) (126,260) (112,522) Excess/(Deficiency) of Revenues Over/(Under) Expenditures (175,000) (134,000) (126,260) 7,740 Net Change in Fund Balances (175,000) (134,000) (126,260) 7,740 Fund Balances -October 1 1,780,903 1,780,903 1,780,903 - Fund Balances -September 30 $ 1,605,903 $ 1,646,903 $ 1,654,643 $ 7,740 H-78 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CLERK'S RECORDS MODERNIZATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 281,648 $ 281,648 $ 289,416 $ 7,768 Investment Income 33,887 33,887 38,619 4,732 Total Revenues 315,535 315,535 328,035 12,500 EXPENDITURES: Current: Court Related: Modernization Trust - 450,000 100,860 349,140 Clerk Fines 331,320 331,320 331,320 - Total Expenditures 331,320 781,320 432,180 349,140 Excess/Deficiency of Revenues Over (Under) Expenditures (15,785) (465,785) (104,145) (336,640) Net Change in Fund Balances (15,785) (465,785) (104,145) 361,640 Fund Balances -October 1 2,367,884 2,367,884 2,367,884 -- Fund Balances -September 30 $ 2,352,099 $ 1,902,099 $ 2,263,739 $ 361,640 H-79 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CLERK'S COURT RELATED SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 1,061,477 $ 1,061,477 $ 1,347,180 $ 285,703 Charges for Services 890,924 890,924 1,038,052 147,128 Fines and Forfeitures 1,423,221 1,423,221 1,356,413 (66,808) Investment Income 7,500 7,500 19,817 12,317 Miscellaneous 2,200 2,200 4,875 2,675 Total Revenues 3,385,322 3,385,322 3,766,337 381,015 EXPENDITURES: Current: Court Related: Clerk Administration 997,337 988,437 635,489 352,948 Clerk Records Management 72,560 123,810 103,196 20,614 Clerk Jury Management 163,796 163,796 151,215 12,581 Clerk Circuit Court Criminal 625,669 681,969 674,410 7,559 Clerk Circuit Court Civil 548,202 538,202 499,900 38,302 Clerk Court Information Systems 286,960 244,610 134,603 110,007 Clerk Circuit Court Family 168,014 130,014 117,967 12,047 Clerk Circuit Court Juvenile 176,194 186,194 174,420 11,774 Clerk Circuit Court Probate 148,668 140,668 123,407 17,261 Clerk County Court Criminal 513,032 573,032 557,436 15,596 Clerk County Court Civil 198,399 188,099 164,705 23,394 Clerk County Court Traffic 680,626 620,626 551,191 69,435 Total Expenditures 4,579,457 4,579,457 3,887,939 691,518 Excess/(Deficiency) of Revenues Over/(Under) Expenditures (1,194,135) (1,194,135) (121,602) 1,072,533 OTHER FINANCING SOURCES/(USES): Reserve for Contingencies - - - Transfer from Other Funds 1,194,135 1,194,135 1,194,135 Transfer to Other funds - - (1,072,533) (1,072,533) Total Other Financing Sources/(Uses) 1,194,135 1,194,135 121,602 (1,072,533) Net Change in Fund Balances - - - - Fund Balances -October 1 - - - - Fund Balances -September 30 $ - $ - $ - $ - H-80 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL ONE CENT INFRASTRUCTURE SURTAX CAPITAL PROJECT FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 21,500,000 $ 21,500,000 $ 20,805,323 $ (694,677) Investment Income 50,000 50,000 176,526 126,526 Miscellaneous - - 526,305 526,305 Total Revenues 21,550,000 21,550,000 21,508,154 (41,846) EXPENDITURES: Current: Capital Outlay: General Government 4,604,542 5,119,139 3,641,380 1,477,759 Public Safety 250,000 852,500 784,122 68,378 Physical Environment 1,414,455 944,480 107,378 837,102 Transportation: Const. Mgmt. 8,665,304 9,845,523 3,465,849 6,379,674 Culture and Recreation 1,000,000 155,000 (43,554) 198,554 Total Capital Outlay Expenditures 15,934,301 16,916,642 7,955,175 8,961,467 Excess/Deficiency of Revenues Over(Under) Expenditures 5,615,699 4,633,358 13,552,979 8,919,621 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (500,000) (32,322) - 32,322 Reserve for Cash Balance (1,962,346) (565,561) - 565,561 Transfers to Other Funds (13,445,475) (16,957,975) (13,213,422) 3,744,553 Total Other Financing Sources (Uses) (15,907,821) (17,555,858) (13,213,422) 4,342,436 Net Change in Fund Balances (10,292,122) (12,922,500) 339,557 13,262,057 Fund Balances -October 1 10,292,122 12,922,500 20,692,528 7,770,028 Fund Balances -September 30 $ - $ - $ 21,032,085 $ 21,032,085 H-81 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL INFRASTRUCTURE REVENUE BONDS SERIES 2014 CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 285,250 $ 285,250 Total Revenues - - 285,250 285,250 EXPENDITURES: Capital Projects-General Government 2,727,550 650,000 549,610 100,390 Capital Projects-Culture and Recreation 5,493,290 5,890,000 655,146 5,234,854 Capital Projects- Buildings 3,780,000 4,833,000 1,148,207 3,684,793 Total Expenditures 12,000,840 11,373,000 2,352,963 9,020,037 Excess/Deficiency of Revenues Over(Under) Expenditures (12,000,840) (11,373,000) (2,067,713) 9,305,287 OTHER FINANCING SOURCES (USES): Reserve for Contingencies - (1,000,000) - 1,000,000 Reserve for Cash Balances (3,999,160) (3,627,000) - 3,627,000 Issuance of Debt - - - - Transfers from Other Funds 16,000,000 16,000,000 16,000,000 - Total Other Financing Sources (Uses) 12,000,840 11,373,000 16,000,000 4,627,000 Net Change in Fund Balances - - 13,932,287 13,932,287 Fund Balances -October 1 - - 12,930,202 12,930,202 Fund Balances -September 30 $ - $ - $26,862,489 $ 26,862,489 H-82 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL CUDJOE REGIONAL WASTEWATER CAPITAL PROJECT FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 2,275,400 $ 2,275,400 $ 1,742,474 $ (532,926) Intergovernmental - - - - Investment Income - - 876,567 876,567 Miscellaneous - - 128,253 128,253 Total Revenues 2,275,400 2,275,400 2,747,294 471,894 EXPENDITURES: Current: Capital Outlay: Physical Environment: Cudjoe Regional Wastewater Project Loan Funding 10,000,000 10,000,000 5,200,372 4,799,628 Special Assessment Refunds 25,000 25,000 - 25,000 Special Assessments 194,979 194,979 142,145 52,834 Total Physical Environment 10,219,979 10,219,979 5,342,517 4,877,462 Total Capital Outlay Expenditures 10,219,979 10,219,979 5,342,517 4,877,462 Excess/Deficiency of Revenues Over(Under) Expenditures (7,944,579) (7,944,579) (2,595,223) 5,349,356 OTHER FINANCING SOURCES (USES): Reserve for Cash Balances (4,146,935) (4,146,935) - 4,146,935 Issuance of Debt 12,455,276 12,455,276 16,494,491 4,039,215 Transfers from Other Funds 3,000,000 3,000,000 503,056 (2,496,944) Transfers to Other Funds (16,000,000) (16,000,000) (16,000,000) - Total Other Financing Sources (Uses) (4,691,659) (4,691,659) 997,547 5,689,206 Net Change in Fund Balances (12,636,238) (12,636,238) (1,597,676) 11,038,562 Fund Balances -October 1 12,636,238 12,636,238 18,799,004 6,162,766 Fund Balances -September 30 $ - $ - $ 17,201,328 $ 17,201,328 H-83 This page is intentionally left blank. MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL DEBT SERVICE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 5,100 $ 5,100 $ 72,250 $ 67,150 Total Revenues 5,100 5,100 72,250 67,150 EXPENDITURES: Current: Debt Service: 2007 Revenue Bonds Principal 3,445,000 3,445,000 3,445,000 - Interest 172,250 171,950 86,125 85,825 Other Debt Service Costs - 300 300 - Total 2007 Revenue Bonds 3,617,250 3,617,250 3,531,425 85,825 Clean Water SRF Loan Principal 4,624,369 4,637,333 490,397 4,146,936 Interest 204,566 191,602 191,541 61 Total Clean Water SRF Loan 4,828,935 4,828,935 681,938 4,146,997 2014 Revenue Bonds Principal 3,635,000 3,635,000 3,635,000 - Interest 644,988 644,988 644,988 - Total 2014 Revenue Bonds 4,279,988 4,279,988 4,279,988 - Mayfield Loan Principal 1,000,000 1,000,000 1,000,000 - Total Mayfield Loan 1,000,000 1,000,000 1,000,000 - 2016 Revenue Bonds Principal 100,000 100,000 100,000 - Interest 269,809 269,809 269,808 1 Total 2016 Revenue Bonds 369,809 369,809 369,808 1 (Continued) H-84 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL DEBT SERVICE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) 2018 PNC Line of Credit Interest - 232,530 232,530 - Other Debt Service Costs - 65,000 65,000 - Total 2018 PNC Line of Credit - 297,530 297,530 -- Total Expenditures 14,095,982 14,393,512 10,160,689 4,232,823 Excess/Deficiency of Revenues Over(Under) Expenditures (14,090,882) (14,388,412) (10,088,439) 4,299,973 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (1,000,000) (767,470) - 767,470 Reserve for Cash Balance (1,000,000) (1,000,000) - 1,000,000 Transfers from Other Funds 14,095,982 14,160,982 9,760,598 (4,400,384) Total Other Financing Sources (Uses) 12,095,982 12,393,512 9,760,598 (2,632,914) Net Change in Fund Balances (1,994,900) (1,994,900) (327,841) 1,667,059 Fund Balances -October 1 1,994,900 1,994,900 2,617,419 622,519 Fund Balances -September 30 $ - $ - $ 2,289,578 $ 2,289,578 H-85 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF NET POSITION INTERNAL SERVICE FUNDS SEPTEMBER 30,2018 Worker's Group Risk Compensation Insurance Management Fund Fund Fund ASSETS Current Assets: Cash and Cash Equivalents $ 701,822 $ 3,213,931 $ 1,078,464 Investments 2,926,993 13,447,199 5,625,914 Accounts Receivable, Net - 6,453 44,559 Due from Other Funds 19,060 97,809 - Due from Other Governmental Units 161 172,153 - Interest Receivable 9,757 30,532 12,293 Total Cu rre nt Assets 3,657,793 16,968,077 6,761,230 Noncurrent Assets: Land and Other Nondepreciable Assets - - - Capital Assets, Net of Accum. Depreciation - 32,917 23,989 Total Noncurrent Assets - 32,917 23,989 Total Assets 3,657,793 17,000,994 6,785,219 DEFERRED OUTFLOWS OF RESOURCES Related to Pensions 58,352 143,590 148,170 LIABILITIES d Accounts Payable 10,996 2,418,921 92,648 Accrued Wages and Benefits Payable 5,199 36,660 12,815 Claims and Judgments Payable 1,264,822 1,164,891 3,776,208 Due to Other Funds - 1,369 - Due to Other Governmental Units - 10 - Accrued Comp.Absences Payable 3,451 7,202 7,647 Total Current Liabilities 1,284,468 3,629,053 3,889,318 Noncurrent Liabilities: Accrued Comp.Absences Payable 13,805 28,810 30,587 OPEB Liability 4,000 55,000 46,000 Net Pension Liability 183,696 241,078 207,372 Total Noncurrent Liabilities 201,501 324,888 283,959 Total Liabilities 1,485,969 3,953,941 4,173,277 DEFERRED INFLOWS OF RESOURCES Related to Pensions 12,323 29,512 30,260 Related to OPEB 679 9,334 7,806 Total Deferred Inflows of Resources 13,002 38,846 38,066 NET POSITION Investment in Capital Assets - 32,917 23,989 Unrestricted 2,217,174 13,118,880 2,698,057 Total Net Position $ 2,217,174 $ 13,151,797 $ 2,722,046 H-86 Fleet Management Fund Total $ 384,008 $ 5,378,225 2,133,660 24,133,766 - 51,012 - 116,869 21,127 193,441 6,008 58,590 2,544,803 29,931,903 54,000 54,000 723,106 780,012 777,106 834,012 3,321,909 30,765,915 471,164 821,276 38,302 2,560,867 49,110 103,784 - 6,205,921 - 1,369 875 885 21,770 40,070 110,057 8,912,896 87,079 160,281 438,000 543,000 955,502 1,587,648 1,480,581 2,290,929 1,590,638 11,203,825 98,294 170,389 74,331 92,150 172,625 262,539 777,106 834,012 1,252,704 19,286,815 $ 2,029,810 $ 20,120,827 H-87 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENSES,AND CHANGES IN NET POSITION INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2018 Worker's Group Risk Compensation Insurance Management Fund Fund Fund Operating Revenues: Charges for Services $ 2,084,803 $ 22,110,832 $ 1,972,306 Miscellaneous 194,836 50,059 1,077 Total Operating Revenues 2,279,639 22,160,891 1,973,383 Operating Expenses: Personnel Services 183,721 347,389 384,061 Operations 681,115 1,788,862 2,855,577 Depreciation and Amortization - 2,083 1,577 Asserted and Paid Claims 2,315,420 15,957,996 2,125,637 Total Operating Expenses 3,180,256 18,096,330 5,366,852 Operating Income(Loss) (900,617) 4,064,561 (3,393,469) Non-Operating Revenues(Expenses): Investment Income 28,370 146,223 59,768 Insurance Recoveries 98,246 290,336 3,513,864 (Loss)on Disposition of Assets - - - Total Non-Operating Revenues(Expenses) 126,616 436,559 3,573,632 Income(Loss) Before Transfers (774,001) 4,501,120 180,163 Transfers to Other Funds (61,030) (153,030) (510,554) Change in Net Position (835,031) 4,348,090 (330,391) Total Net Position-October 1 2,915,527 8,804,732 2,890,559 Restatement-Change in Accounting Principle 136,678 (1,025) 161,878 Net Position-October 1, restated 3,052,205 8,803,707 3,052,437 Total Net Position-September 30 $ 2,217,174 $ 13,151,797 $ 2,722,046 H-88 Fleet Management Fund Total $ 2,346,454 $ 28,514,395 1,091 247,063 2,347,545 28,761,458 1,461,927 2,377,098 829,469 6,155,023 57,999 61,659 - 20,399,053 2,349,395 28,992,833 (1,850) (231,375) 30,829 265,190 - 3,902,446 30,829 4,167,636 28,979 3,936,261 (367,760) (1,092,374) (338,781) 2,843,887 2,629,393 17,240,211 (260,802) 36,729 2,368,591 17,276,940 $ 2,029,810 $ 20,120,827 H-89 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2018 Worker's Group Risk Compensation Insurance Management Fund Fund Fund Operating Activities: Cash Received for Services $ 2,084,803 $ 22,135,336 $ 2,210,595 Cash Received from Insurance Recoveries 98,246 290,336 3,513,864 Cash Payments to Suppliers for Goods and Services (683,168) (1,433,045) (2,783,051) Cash Payments for Employee Services (179,939) (370,888) (409,193) Cash Payments for Claims (1,820,654) (15,948,521) (194,905) Cash Received from(Paid to)Other Sources (21,599) 482,177 - Other Operating Revenue 196,874 51,656 1,742 Net Cash Provided by(Used in) Operating Activities (325,437) 5,207,051 2,339,052 Noncapital Financing Activities: Transfers to Other Funds (61,030) (153,030) (510,554) Net Cash Provided by(Used in) Noncapital Financing Activities (61,030) (153,030) (510,554) Capital and Related Financing Activities: Acquisition of Capital Assets 868 (35,000) (1,531) Net Cash Provided by(Used in)Capital and Related Financing Activities 868 (35,000) (1,531) Investing Activities: Investment Income 28,370 146,223 59,768 Proceeds from Sales and Maturities of Investments 335,719 (4,882,539) (1,729,758) Purchase of Investment Securities 139,099 494,666 213,987 Net Cash Provided by(Used in) Investing Activities 503,188 (4,241,650) (1,456,003) Net Increase(Decrease) in Cash and Cash Equivalents 117,589 777,371 370,964 Cash and Cash Equivalents: October 1 584,233 2,436,560 707,500 September 30 $ 701,822 $ 3,213,931 $ 1,078,464 H-90 Fleet Management Fund Total $ 2,346,454 $ 28,777,188 - 3,902,446 (839,077) (5,738,341) (1,658,016) (2,618,036) - (17,964,080) (9,211) 451,367 2,001 252,273 (157,849) 7,062,817 (367,760) (1,092,374) (367,760) (1,092,374) (12,992) (48,655) (12,992) (48,655) 30,829 265,190 310,529 (5,966,049) 114,113 961,865 455,471 (4,738,994) (83,130) 1,182,794 467,138 4,195,431 $ 384,008 $ 5,378,225 (Continued) H-91 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CASH FLOWS(CONTINUED) INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2018 Worker's Group Risk Compensation Insurance Management Fund Fund Fund Reconciliation of Operating Income(Loss) to Net Cash Provided by(Used in) Operating Activities: Operating Income(Loss) $ (900,617) $ 4,064,561 $ (3,393,469) Adjustments to Reconcile Operating Income(Loss) to Net Cash Provided by(Used in)Operating Activities: Depreciation and Amortization - 2,083 1,577 Nonoperating Income- Insurance Recoveries 98,246 290,336 3,513,864 Change in Assets, Liabilities,and Deferrals: (Increase) Decrease in Accounts Receivable - 24,504 238,289 (Increase) Decrease in Due from Other Gov't Units (161) 24,365 - (Increase) Decrease in Due from Other Funds (19,060) 456,461 - (Increase) Decrease in Interest Receivable 2,038 1,597 665 Increase(Decrease)in Accounts Payable (2,053) 355,817 72,526 Increase(Decrease)in Accrued Wages/Benefits (905) 1,906 1,226 Increase(Decrease)in Claims/Judgments Payable 494,766 9,475 1,930,732 Increase(Decrease)in Due to Other Funds (2,378) 1,369 - Increase(Decrease)in Due to Other Gov't Units - (18) - Increase(Decrease)in Comp.Absences Payable 1,568 7,499 (4,974) Increase(Decrease)in OPEB Liability (3,072) (42,218) (35,308) Increase(Decrease)in Pension Liability 19,190 46,778 48,163 Increase(Decrease)in Deferred Outflows (20,151) (64,010) (58,741) Increase(Decrease)in Deferred Inflows 7,152 26,546 24,502 Total Adjustments 575,180 1,142,490 5,732,521 Net Cash Provided by(Used in) Operating Activities $ (325,437) $ 5,207,051 $ 2,339,052 Noncash Investing, Capital,and Financing Activities: (Loss)on Disposition of Assets $ - $ - $ - Change in Fair Value of Investments $ - $ - $ - Cash Reconciliation: Unrestricted $ 701,822 $ 3,213,931 $ 1,078,464 H-92 Fleet Management Fund Total $ (1,850) $ (231,375) 57,999 61,659 - 3,902,446 - 262,793 (10,137) 14,067 51 437,452 910 5,210 (9,608) 416,682 7,033 9,260 - 2,434,973 - (1,009) 875 857 6,953 11,046 (336,194) (416,792) 154,289 268,420 (152,160) (295,062) 123,990 182,190 (155,999) 7,294,192 $ (157,849) $ 7,062,817 $ 384,008 $ 5,378,225 H-93 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF FIDUCIARY NET POSITION ALL AGENCY FUNDS SEPTEMBER 30, 2018 Clerk's Sheriff's Tag General General and Property Agency Agency License Tax Totals ASSETS Cash and Cash Equivalents $ 6,402,187 $ 792,000 $ 250,599 $ 1,587,933 $ 9,032,719 Accounts Receivable 95,166 6,933 10,138 1,813 114,050 Total Assets $ 6,497,353 $ 798,933 $ 260,737 $ 1,589,746 $ 9,146,769 LIABILITIES Due to Others $ 4,331,115 $ 798,933 $ 2,392 $ 99,527 $ 5,231,967 Due to Other Governmental Units 2,166,238 - 258,345 1,490,219 3,914,802 Total Liabilities $ 6,497,353 $ 798,933 $ 260,737 $ 1,589,746 $ 9,146,769 H-94 This page is intentionally left blank. MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION ALL AGENCY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2018 10/1/2017 Additions Deductions 9/30/2018 Clerk's General Assets Cash and Cash Equivalents $ 5,260,343 $ 40,303,926 $ 39,162,082 $ 6,402,187 Accounts Receivable 24,743 294,800 224,377 95,166 Total Assets $ 5,285,086 $ 40,598,726 $ 39,386,459 $ 6,497,353 Liabilities Due to Others $ 4,538,453 $ 3,508,432 $ 3,715,770 $ 4,331,115 Due to Other Governmental Units 746,633 37,090,294 35,670,689 2,166,238 Total Liabilities $ 5,285,086 $ 40,598,726 $ 39,386,459 $ 6,497,353 Sheriff's General Assets Cash and Cash Equivalents $ 708,715 $ 2,050,191 $ 1,966,906 $ 792,000 Accounts Receivable 5,240 1,407,370 1,405,677 6,933 Total Assets $ 713,955 $ 3,457,561 $ 3,372,583 $ 798,933 Liabilities Due to Others $ 713,955 $ 2,469,588 $ 2,384,610 $ 798,933 Total Liabilities $ 713,955 $ 2,469,588 $ 2,384,610 $ 798,933 Tag and License Assets Cash and Cash Equivalents $ 260,544 $ 16,503,802 $ 16,513,747 $ 250,599 Accounts Receivable 5,196 4,942 - 10,138 Total Assets $ 265,740 $ 16,508,744 $ 16,513,747 $ 260,737 Liabilities Undistributed Collections $ 259,082 $ 16,431,882 $ 16,432,619 $ 258,345 Due to Others 6,658 76,862 81,128 2,392 Total Liabilities $ 265,740 $ 16,508,744 $ 16,513,747 $ 260,737 Property Tax Assets Cash and Cash Equivalents $ 2,130,230 $ 312,332,671 $ 312,874,968 $ 1,587,933 Accounts Receivable 45 1,768 - 1,813 Total Assets $ 2,130,275 $ 312,334,439 $ 312,874,968 $ 1,589,746 Liabilities Due to Others $ 72,260 $ 7,841,458 $ 7,814,191 $ 99,527 Undistributed Collections 2,058,015 304,492,981 305,060,777 1,490,219 Total Liabilities $ 2,130,275 $ 312,334,439 $ 312,874,968 $ 1,589,746 (Continued) H-95 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION (CONTINUED) ALL AGENCY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2018 10/1/2017 Additions Deductions 9/30/2018 Total All Agency Funds Assets Cash and Cash Equivalents $ 8,359,832 $ 371,190,590 $ 370,517,703 $ 9,032,719 Accounts Receivable 35,224 1,708,880 1,630,054 114,050 Total Assets $ 8,395,056 $ 372,899,470 $ 372,147,757 $ 9,146,769 Liabilities Due to Others $ 5,331,326 $ 13,896,340 $ 13,995,699 $ 5,231,967 Due to Other Governmental Units 3,063,730 358,015,157 357,164,085 3,914,802 Total Liabilities $ 8,395,056 $ 371,911,497 $ 371,159,784 $ 9,146,769 H-96 This page is intentionally left blank. STATISTICAL SECTION (Unaudited) This part of Monroe County, Florida Government's comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the County's overall financial health. Statistical schedules differ from financial statements because they usually cover more than one fiscal year and may present non- accounting data. These schedules are designed to give the reader insights into the financial position of Monroe County not readily apparent from the financial statements. CONTENTS Financial Trends These schedules contain trend information to help the reader understand how the government's financial performance and well-being have changed over time. Revenue Capacity These schedules contain information to help the reader assess the government's most significant local revenue source, the property tax. Debt Capacity These schedules present information to help the reader assess the affordability of the government's current levels of outstanding debt and the government's ability to issue additional debt in the future. Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader understand the environment within which the government's financial activities take place. Operating Information These schedules contain service and infrastructure data to help the reader understand how the information in the government's financial report relates to the services the government provides and the activities it performs. Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual financial reports for the relevant year. 1-1 O N 6 co N V a Co N Co 6 O) I- O to of of to to of O O) of O_ I� M CO CO V M V I� oo LO co _ _OJ I- N r- to OJ N N CO O) of I- M N O O O) O r- N V Co O to N I� of � � N O) M to O) I� O O of O I- N (D O N M of r- M N '' V V N '' to V O to to to O) to Co O CO V I- OJ N OJ r V N O) N Cl to O r- O O of O) V to of r M CO of of O of CO CO M V N to V M V N OJ V O) to M O) O) O) O N V M I-- N M of � O) of O) to M N I- O M M C I� r-- OJ N N to O) M N `-' V V N `-' to V� V� co N V O Co N of M of N O) O V V O O) O N O) V N to O V N N V O) r- Nr- M r- to O) M M O) CO of O V N N V V N CO N V to N I- O) I- O) V O to V I� O N of of O) r- N of N_ O 0 co r- � O O (2 M 00 00 M N N to N O) N M M O) to to N O I� M N V V to Co CO I- of of r- to CO O) N r- M O N O) of M IA (D (D to O V O) OJ OJ V N CO Cl) CO V I� V O of N M of O) M O N N of to V O) to CO of O V N Co O O) CO M N of - of � 7 V N M `-' to V) V) O) to to of O O) I- O) O) V N o O N 00 I- N O) O) N N N OJ o I� M to N M I� of of r- M to CO I-- O) I: OJ r- N N V V N O) V N CO � O) O N � V M O) O CoCO O O of O) O) N of O) O) N O of � O coO of N V � of N M N O O) M to I- M V M to ER ER O to I-- N � r- co co O) V N to N CO to M O I-- r-- to R M N N oc O of of r- V O O to a) N Co N O M CO N N to M to M_ M N O of to V N M Lo V CO -- V O CO to CO CO of U N O V M 00 V V O 00 V o0 M CO N N V M� of N O M (0LO LL ER ER _ Co of O V O) I- () to to to O) O) 00 R a) C O CO O of N to of OM of to CO to V O Co to N I- O to M 0 ` c N of of V O M to O) 00 N O) O O p. 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O Q Q N N N ° c Ea 0) t O CL N T m ON O n N n O JJ n — YK CI d CL — W2 O O W U` I— 00 I— I- 1-3 LO LO N N N 0) O N (.0 - oro m (-4 I- M I- LO O LO I- (fl 7 70 O 7 7 7 Cr 7 LO (O Co 7 Il 7 rl r 0) ro O O (fl LO N I- (fl r Cl) I- O N N (•S N o �T N r, LO W 00 W M O N 0 7 M 0 Cl) 0) -� � M LO O Cl) LO (O N M N M N O O M 7 O O N O 7 7 N oN (.0 N N 0) N N N LO Cl) EA EA D O O M N N M r 7 0 7 C., r 7 W ll') LO O O N I- O LO a) 0) 7 � 7 O O O I� 7 LO N ll') M O I� (C M N LO N O O O O M I- N O M Cl) N r- (D r M LO n O ll') I- M M N (O (O 7 LO O O 7 0 0 (.0 LO (O O Cl) O N O N - - (O O N 7 N CV) (.0ro ro LO 7 M LO EA EA I- 7 I- N LO O O (fl LO (O I- ro N (o (o 0) LO N N M 0 0 7 7 0 N 7 N M 7 N Ln (o M 7 W O LO N LO N rl r r O (O O N LO M LO (.0 I- 0) 7 LO N 0) 7 0) 0) � 10 N LO LO I,, (O N M 7 N N (O O I- LO M N p) O N 7 I� O O I� N N M I� LO 0 r (:F LO O O O 7 (O M 7 0 0) O N N N 7 N M 7 EA EA 7 0 0 I- (fl 7 (O Cl) 7 I- O O r O N O O W O N m O M M m 0 0 7 7 N LL') LO O O O (.0lf) 7 I� N M N O_7 O (fl W �_- M N N (O N LO N N N r N r 0 0 I� LO O LO (.0 N 0)O N O 0 N I: r 7 Cq ll') 0) c) 0) N 0) (.0 O LO (O 7 N Cl) I- O N _ N O (O CO O M Cl)- 7 N N M 7 N (O W (.0 LO - 7 LO Cl) W Cl) EA EA O N M 0 M N M M 7 N N LO CO N O O 7 0 M M I- N 0 0 7 O Cl) O LO Cl) LO r- 7 (O N (O 7 I� O O r r M LO O O M LO 7 N N (O (O 7 7 7 N 7 Cl) O N 7 7 0 LO O N 0 0 0 LO M (O N LO O I- 0) r N 7 N LO O N 7 7 N c) 7 LO N O O N CO LO O M LO N �2 N N 0 (D N O Cl) O EA EA y N N N I- M 7 0 O I- N N N N 7 I- (fl } N (O W M 7 I— N 0 7 I— r 7 LO I- r O O LO Cl) O O N Cl) I� N N r 7 N LO N I� O W f6 O O I- (D Lo (O O O O I— LO (O LO M O O U (') O I- LO N N 7 N I- N N (fl r (fl N N 7 I� .(0) LO LO Cl) LO (O (O (O M N O M N 7 M W LL N O a r (fl 0) 0 (O Cl) N N N I� Cl) O 7 PR 691 C f6 C C 7 ll') 00 LO W M N O O NT 0 Cl) Cl) I— O LO "O O i M ll') N LL') N 7 ll') O I� M 7 O O N O N 7 ll') U M LO LO (C 7 (C N N (O (O I� O) N 7 N 7 O f6 7 N (O LO O O N (O LO O N O (O W M 7 M N N Cl) a) O O I- N N LO I 7 (O N O N (.0 0)( (.0 r 0)LL U O (O LO O N LO _�_N 7 O O r- M N M I� U N 0 7 7 N (O Cl) a)�_ O O M (O N O a) a) O EA EA p d LL a) U C N 0 7 0 O N m O N N N O 7 LO O O I� LO LO N U U ll') 7 N M N 0 (O M M I- M Co (0 r M I� LO O Z I� r M N � IR LO C N N Co (fl 0) Co 7 O C N O (O M O M m M O O I, N r r r r N 7 I� O i 0) N O N 7 N N 7 I- r Co O LO LO Co I- (fl Cl) 0 a) J U N (fl M (O N 7 N O N (O 7 C I- 7 N O I� M N O Cl) 0 (D Cl) OM 0 EA EA U (O m N N LLB N LLB 7 (O N LLB 0) 0) LLB 0) (fl Cl) LLB N ll') N I- (D r O (O O O 7 N O I- r LO (O O 7 I� O N O (fl O M (C LO LO M I� (fl N M N 7 O O I� O LO O (O O O Cl) Co N N Co Cl) Co 7 I- O O I- O r N 7 O W (D N N Cl) I- 7 I- LO O CO N (O 7 0 0 W 7 C C I- O N O O N W O N N 7 O I- - (o Cl) N N Cl) LO M O EA EA N 7 Co N Co Co r O r r 7 LO 0 7 O I� N Cl) (O O Cl) LO Cl) Co O O N r 7 N N 0 7 N Co I� r O O 7 7 0 (C (C (0 O O M 7 7 (O I- O r N O N 7 0 (O I, r Co7 I� O 7 Co (O Co7 M m N 7 (O r- N O N O LO O LO O N N I- N 7 M G (O (O 7 I- r (fl M LO N O O LO LO O N M 7 I- W (D W N (O Cl) O EA d) N N c c O N O N C C s 0 s 0 N y j y j a 0 U C U c U p c U p > a) rn = co) c o > ;= U a) a) c Q aa)) ° > '� o .� Y c m Q Co- Co- m Y > o > > > oww mw a� mC� m tT o N a a y �° p � as U) as o ° ct: p N 0 N c N � > w = 000 NFU) 20 ma` �° o O O U d (D HQ Co U H H (D 1-4 O N N -0 0 I- M O LO O I- O O -TN 0 (a -TO 0 N (2 I- O (D(D O (D N r O Co LLB (`') I- a) LO I- O O (D r O (h LLB V V (`') (fl (`') (fl (`') LLB O I_ N N (`') I� N (fl � LLB 00 O r N a) O 'T 0 (`') ll') (`')IY) O (h O O O (`') V ll') N O O a0 LL') N I� O O V O O V (`')(`') I� O LO V I- (`') LL') O LL') (`') V I� V O O N I� (fl O V O (fl (`') N O C O N V (D S O N V M (D M fV LLB `-' O O N (`') I� U3 U3 y3 U3 U3 U3 O V CO LLB M T V O O N V V N V O N N O (`') (O(`') I- (`') r_ r- r- N N r- LLB I_ N V V LL') T V V O O (D r- N I� O O () N O r O V N N V N N N (fl (`') O LLB N 0 LO 7 V N O O m V� m O LO O O O O r Lr)cq LO N Q N O r Lo O Lo (`') Lo Lo O (`')ll') (h O LO N N O LC) O N a) (`') LL') O O ll')ll') ll') V LL') LL') O O O N r O N � I� O O O O (`') O I- N 'T r-V (D (D - 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O E > a) o Z T y Q) O- C a - C a) a - a y O c - a) Q y _ a) F.N I- O U .N a) > y E (0 w .N .= y E E U o cn m o O y = y E y l j a) d O C a)-O 00 (y0 N C p y a) in (D O a) U C -0 d E a) d > 'N o 1 s > m Q - C� O - O � N o N co o o cu � N o Z (D m i° (D U C� ~ O i- m -Ei- U C0 m i° I-5 Monroe County, Florida Governmental Activities Tax Revenues By Source Last Ten Fiscal Years (accrual basis of accounting) Sales Taxes State Tourist Local Local Tourist Fiscal Property Impact Sales Development Year Tax Tax Tax Tax Other Taxes Total 2009 $ 81,181,540 $ 2,567,410 $ 25,936,719 $ 14,962,879 $1,141,964 $ 125,790,512 2010 81,685,080 2,820,046 27,042,539 19,658,401 1,292,038 132,498,104 2011 78,492,821 3,221,050 29,123,899 22,409,539 1,702,807 134,950,116 2012 74,644,751 6,288,112 30,706,877 25,606,873 1,866,485 139,113,098 2013 72,392,013 3,895,240 31,684,654 27,192,150 1,837,247 137,001,304 2014 73,682,489 4,348,864 34,323,661 30,555,397 1,960,584 144,870,995 2015 75,322,772 4,297,140 36,609,660 34,480,163 1,081,021 151,790,756 2016 75,463,966 4,579,158 38,090,049 36,633,260 1,131,692 155,898,125 2017 77,511,075 4,564,973 39,450,577 36,519,780 1,097,971 159,144,376 2018 81,472,461 4,095,460 38,009,370 32,763,679 1,145,385 173,609,890 1-6 N Or- V co CO 00 — LO 00 d' O O � N V d' O co ao Q Q M O � LOM Q Q Q 0) co M co r- N Z Z Z Z Z V V V co r- M OJ O 04 N V3 V3 V3 V3 V3 LO co N r- r r- O O Ln N O MM � M � M �Vi V O Q Q N N r- 'ItQ Q Q(D LOO OJ N IL-0 zot O O Z Z N V oc Z Z Z N oc O V ( Ln N LO It d' co LO M O V co � � N EFT ER EFT ER ER OJ O It co LO r- Lo r O V 04 OMN MO � N � N L O Q Q M O It r- 0) � Q Q Q CO cq 00 � N O O Z Z d- N Z Z Z M M N O N N O N LO 00 r- co LO CO It CO NO2 � N ER EFT ER EFT EFT O O Lo N r- Ln d' O r- � O � V � � � V C(O LID Q Q M O O) O O Q Q Q O LO 00 V V O Z Z O N O Z Z Z O CO N � � N O N CO CO LO co CO LO M CO � N ER ER ER ER ER 00 O O 0 � In O CO LO CO ,It 0 0 0 N CO O CO LO r- O H O CO 00 M O N CO O N V CO O 00 r- r- 00 00 N O r- Q Q O co CO N Q Q Q d' O O co O Z Z O ' O Ln Z Z Z N d � N N �O CO LO O co CO O It M N M 6r3 613 613 613 613 O 00 r- CO CO co LO It O LO f6 V V � CO M N � � � N O d' O dt Q Q Q r- V 0 N CO f6 O Z Z O d' CO Z Z Z V oc Ln O Ln Hl N N N COLO O N LO 00 Nt C C LL 00 LL .� V3 V3 V3 V3 V3 ca 0 00 00 0) 00 r 0 O 00 O O O C V OJ V N In O In O O M a) N L6 f6 co Ln co O co CO N 0) In CO rIt - O- O E Q Q 0) co O co Q Q Q In OJ In It co a) �. 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Keys Electric Co-Op 116,244,732 2 0.44% 86,934,371 1 0.33% Sunset City Lessee, LLC 104,322,313 3 0.39% Passco Ocean Dst 86,689,509 4 0.33% Windward Point LLC 85,624,988 5 0.32% 48,403,229 6 0.18% Casa Marina LLC 84,636,538 6 0.32% Galleon Condominium Assoc Inc 83,581,695 7 0.31% 68,968,680 3 0.25% CWI Keys Hotel LLC 77,341,478 8 0.29% SHS Ltd 66,281,757 9 0.25% 36,800,134 8 0.14% Playa Largo Hospitality 63,263,896 10 0.24% BellSouth/Southern Bell 70,547,095 2 0.27% City of Key West 59,258,452 5 0.22% Bluegreen Resorts Management 45,019,589 7 0.17% Hyatt Vacation Management Co 64,162,847 4 0.24% JLW Key West 1 LLC 35,311,362 10 0.13% $ 890,848,278 3.35% $ 550,780,430 2.06% Source: Monroe County Property Appraiser 1-13 a d J 0 0 0 0 0 0 0 0 0 0 0 +�+ o 0 0 0 0 0 0 0 0 0 0 LO O O O O M O O r+ O O O O O O O O O O r0+ � y C i O 4) U a d VLO O O P- ce) 00 00M rn rr N CO LO LO O r O O I- 0 M P- LO O P- O LO O LO 0 M O O — ti) M I- N M It E N O Lr N 4 Cfl � O N Q 00 00 P- P- P- r- r- r- r- 00 fA i 00 M -,t M N N M CO -,t Q O N I- r- M N Cfl LO z d ti) O ti) O N N M N Z C ++ LO O M N It m LO CD y 0 � V 7 O 0 a d c 7 .d y J 0 > J G1 > d o 0 0 0 0 0 0 0 0 0 d O d O O O O M O O O fx0 LO I- r--� CL 3 ° a o � � a � } d It 00 co 00 r- CDM It CO coN co m 0 y O LO CDO N LO LO N t- r- U O o 4 _ 4 Ci o 4 O o LL 0 m LO N r- It M LO M LO N O O M O N M It Q P- P- 00 co co r- P- P- P- P- 00 69 i O U O i 00 Cfl O O LO LO O M O O x f0 m 00 00 CO CO M M LO N LO U } pl Lr 00 4 M Lr pl 4 Lr 4 X � COM Lr Lr O O M O O J y LO 0c0 0c0 O r- P- P- P- 000 000 000 LL � O O U Z a� co U O Q i M 0 Q L O d O O N M LO O r- 00 2 O O f0 C O O O O O O O O O O O Z y W CLum 7 co Cn Z 1-14 2 2 ® o y y y y y y y a - 7 $ / z z z z z z z C 2 ° \ \ \ y y y y y y y § 2 § / \ \ z z z z z z z a2 £ o e e o r a � e � r \ / / / / / / / / / / I e n r e n e p p n a > % / ƒ / / / / \ \ / o m 2 \ \ \ \ \ \ a k @ ® / ® ® / \ . p So E r 7 § � ® # 7 - k / 7 / e 2a ¥ n o ( _ 0) z / CD CD � � \ k 2 e % a E LL o 2 � S E ƒ5 k e \ \ \ \ £ a J 2 m / 2 3 3 3 3 ° \ k 2 ; § / / / k 2 J 00 ^ � \ \ 2 k / co / 0 o � 0o ^ 2 / § \ � . \ \ \ \ ° m t § > /_ / / / \ \ � 2 E « e S \ o r a o e o w o o r \ \ E § . f ? \ 9 \ \ \ 9 \ \ \ / E a e o 6 r 3 r = 0 3 o w ; - e ; 2 f % f ? $ \ $ / / $ $ J / ¢ ® ƒ & ƒ ƒ j ? o e co a o o a w e r CD a) 3 § . k 2 / 2 ? \ % / 3 g 3\ a 'a 6 3 6 3 6 3 3 6 3 3 _ ; § » / G / 3 & f / p S \ d § © m w 3 3 6 3 3 3 6 6 7 7 3 'IT con a a a & r n ; / a ƒ 7 > _ � 5 $ % g o a n r e w coe $ z \ \ \ \ \ \ \ \ \ \ / -\ z7:::,z 1-]5 Monroe County, Florida Ratios of General Bonded Debt Outstanding Last Ten Fiscal Years Percentage of Estimated General Less: Amounts Actual Taxable Fiscal Obligation Available in Debt Value of Per Year Bonds Service Fund Total Property Capita Monroe County does not have any outstanding general bonded debt for years 2009-2018. 1-16 Monroe County, Florida Direct and Overlapping Governmental Activities Debt September 30, 2018 Estimated Amount Debt Percentage Applicable to Direct Debt Outstanding Applicable County Monroe County, Florida $ 208,307,215 100% $ 208,307,215 Monroe County does not have any overlapping debt as of September 30, 2018. Notes Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the county. This schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by the residents and businesses of Monroe County, Florida. This process recognizes that, when considering the County's ability to issue and repay long-term debt, the entire burden borne by the residents and businesses should be taken into account. However, this does not imply that every taxpayer is a resident and, therefore, responsible for repaying the debt of each overlapping government. (a) Net bonded debt was calculated as revenue bonds payable and revenue notes payable. See Legal Debt Margin Information schedule for net bonded debt calculation. (b) Allocation based on assessed valuation. 1-17 Monroe County, Florida Legal Debt Margin Information Last Ten Fiscal Years There are no State laws or County ordinances establishing a legal debt margin for years 2009-2018 1-18 Monroe County, Florida Pledged-Revenue Coverage Governmental Activities Last Ten Fiscal Years Sales Tax Revenue Bonds Fiscal Debt Service Year Collections Principal Interest Total Coverage 2009 $ 13,702,434 $ 3,857,500 $ 1,728,301 $ 5,585,801 2.45 2010 14,085,030 3,997,500 1,588,708 5,586,208 2.52 2011 15,374,998 4,145,000 1,440,676 5,585,676 2.75 2012 16,318,450 4,300,000 1,284,405 5,584,405 2.92 2013 17,172,360 4,465,000 1,120,502 5,585,502 3.07 2014 17,106,367 4,990,338 1,190,415 6,180,753 2.77 2015 20,161,451 3,580,000 1,230,981 4,810,981 4.19 2016 20,817,676 4,689,999 1,205,286 5,895,285 3.53 2017 21,510,929 6,950,000 1,203,144 8,153,144 2.64 2018 25,690,144 8,723,442 1,278,587 10,002,029 2.57 Note: Details regarding the County's outstanding debt can be found in the notes to the financial statements. 1-19 0) -® ( \ \ > a = 0 6 G & CO 2 } corm \ E = @o � / Q Ea 2 $ S k� / \ \ x y G oSSS > q \ / goon § ©(ƒ/ ƒ 2 6 = e R ® ® ® » \ 2 / a & / , , , \ \ \ \ o § ) f ) b LU 0 2 / $ b G a ` 0 e ® $ = 0 ° \ oSSS � o § 0000 > � _ a L333 e 7 77 e O % ? & & i � ® m k kf / = 0 2 2 2 ® ) _ y Q \ \ 0 A k � k _j / CO ƒ/ > N k } k 20 § w \ § co00 \ N ® \ ± & \ �� e2 � > w \ 2 kU o � ®� m > � = 00 U 2 % § ? © e Z) G m E o > $ w U w e ® » NT = e = e .! # \ � � § \ 3 % / 2m _j U) �ƒGG 0 i E ° o� § © ww6 t � m_ E ( 2 I & E > EL w ^ ° / /.f a / § 0 / \ Lr q / % Z/ b\ t ) - - - E / $ 2k � m \ \ ) \ � & 33w E` � Q > / w § '/ ® < � e \ CO & e a 5 k \ ƒ ./ / » kw oo � am � rew = » % \ � o < CCD) 7 �2F _ � 2 \ � � \ \ \ \ \ \ \ \ \ > \ / � � § - \ \ / \ > \ / = E3 = ! 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COMPLIANCE SECTION Cherry Bekaert' (TI<Us"x,A Fi,,c Report of Independent Auditor 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 Mayor and Board of County Commissioners 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 financial statements of the governmental activities, the business- type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of Monroe County, Florida (the "County") as of and for the year ended September 30, 2018, and the related notes to the financial statements, which collectively comprise the County's basic financial statements, and have issued our report thereon dated March 18, 2019 for the purpose of compliance with Section 281.39(2), Florida Statutes, and Chapter 10.550, Rules of the Auditor General-Local Government Entity Audits. Internal Control over Financial Reporting In planning and performing our audit of the financial statements, we considered the County's internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the County's internal control. Accordingly, we do not express an opinion on the effectiveness of the County'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 combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the County'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 County's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. J-1 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 County'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 County's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. Orlando, Florida March 18, 2019 J-2 �llil�l� Cherry Bekaert` i},..;,r L,rl,,r,; Report of Independent Auditor on Compliance for Each Major Federal Awards Program and State Financial Assistance Project and on Internal Control Over Compliance Required by the Uniform Guidance and Chapter 10.550, Rules of the Auditor General To the Honorable Mayor and Board of County Commissioners of Monroe County, Florida: Report on Compliance for Each Major Federal Program and State Financial Assistance Project We have audited the compliance of Monroe County, Florida (the "County") with the types of compliance requirements described in the U.S. Office of Management and Budget (OMB) Compliance Supplement and the requirements described in the State of Florida Department of Financial Services' State Projects Compliance Supplement, that could have a direct and material effect on each of the County's major federal programs and state financial assistance projects for the year ended September 30, 2018. The County's major federal programs and state financial assistance projects are identified in the summary of auditor's results section of the accompanying schedule of findings and questioned costs. Management's Responsibility Management is responsible for compliance with the requirements of laws, regulations, contracts, and grants applicable to its federal awards programs and state financial assistance projects. Auditor's Responsibility Our responsibility is to express an opinion on compliance for each of the County's major federal awards programs and state financial assistance projects based on our audit of the types of compliance requirements referred to above. We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and Chapter 10.550, Rules of the Auditor General. Those standards, the Uniform Guidance, and Chapter 10.550, Rules of the Auditor General, require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major federal award program or state financial assistance project occurred. An audit includes examining, on a test basis, evidence about the County's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion on compliance for each major federal awards programs and state financial assistance projects. However, our audit does not provide a legal determination of the County's compliance. Opinion on Each Major Federal Program and State Financial Assistance Project In our opinion, the County complied, in all material respects, with the types of compliance requirements referred to above that could have a direct and material effect on each of its major federal programs and state financial assistance projects for the year ended September 30, 2018. J-3 Report on Internal Control over Compliance Management of the County is responsible for establishing and maintaining effective internal control over compliance with the types of compliance requirements referred to above. In planning and performing our audit, we considered the County's internal control over compliance with the types of requirements that could have a direct and material effect on its major federal awards programs and state financial assistance projects to determine the auditing procedures that are appropriate in the circumstances for the purpose of expressing our opinion on compliance for each major federal award program and each state financial assistance project and to test and report on internal control over compliance in accordance with the Uniform Guidance and Chapter 10.550, Rules of the Auditor General, but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the effectiveness of the County's internal control over compliance. A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a federal awards program or state financial assistance project on a timely basis. A material weakness in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program or state financial assistance project will not be prevented, or detected and corrected, on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal award program or state financial assistance project that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance. Our consideration of internal control over compliance was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies. We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. Purpose of Report The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of the Uniform Guidance and Chapter 10.550, Rules of the Auditor General. Accordingly, this report is not suitable for any other purpose. Orlando, Florida March 18, 2019 J-4 Monroe County,Florida Schedule of Expenditures of Federal Awards and State Financial Assistance For The Year Ended September 30,2018 Federal Federal/State Agency, (Direct& Passed Pass-through Entity CFDA Pass-Through) Through to Federal Program/State Project Number Contract/Grant Number Expenditures Subrecipients Department of Health and Human Services: Aging Cluster: Passed through Florida Department of ElderAffairs and Alliance for the Aging: Title 111B Grants for Supportive Services&Senior Centers-2017 93.044 AA-1729 $ 16,629 $ Title IIIB Grants for Supportive Services&Senior Centers-2018 93.044 AA-1829 73,306 Total Program 89,935 Title IIIC1 Nutrition Services(Congregate Meals)2017 93.045 AA-1729 24,562 Title IIIC1 Nutrition Services(Congregate Meals)2018 93.045 AA-1829 91,770 Title IIIC2 Nutrition Services(Home Delivered Meals)2017 93.045 AA-1729 40,616 Title IIIC2 Nutrition Services(Home Delivered Meals)2018 93.045 AA-1829 108,139 Total Program 265,087 Nutrition Services Incentive Program-2017 93.053 US-1751 7,358 Nutrition Services Incentive Program-2018 93.053 US-1851 18,813 Total Program 26,171 Total Aging Cluster 381,193 Title IIIE Caregiver Support Services-2017 93.052 AA-1729 30,417 Title IIIE Caregiver Support Services-2018 93.052 AA-1829 67,860 Total Program 98,277 Passed through Florida Department of Revenue,Agency for Children and Families,and Office of Child Support Enforcement: Child Support Enforcement Title IV-D 93.563 COC44 127,920 Passed through Florida Department of Economic Opportunity: Low Income Home Energy Assistance Program-2018 93.568 17EA-OF-11-54-01-019 192,223 Low Income Home Energy Assistance Program/WAP-2017 93.568 17WX-OG-11-54-01-039 74,533 Total Program 266,756 Total Federal Agency 874,146 The accompanying notes are an integral part of this schedule. (Continued) J-5 Monroe County,Florida Schedule of Expenditures of Federal Awards and State Financial Assistance For The Year Ended September 30,2018 Federal Federal/State Agency, (Direct& Passed Pass-through Entity CFDA Pass-Through) Through to Federal Program/State Project Number Contract/Grant Number Expenditures Subrecipients Department of Justice: Equitable Sharing Agreement 16.922 539,201 Direct Program: Bureau of Justice Assistance: Bulletproof Vest Program 16.607 2016BUBX16084451 2,724 Bulletproof Vest Program 16.607 2017BUBX17086052 24,516 Edward Byrne Memorial Justice Assistance Grant Program: Drug Court Medical Director Initiative 16.738 2016-DJ-BX-0896 3,928 Total Program 31,168 Passed through Office of the Attorney General: Victims of Crime Acts 16.575 VO-002277 351,869 - Passed through Florida Department of Law Enforcement: Edward Byrne Memorial Residential Substance Abuse Treatment: Men's Jail Housed Drug Abuse Treatment Program 16.593 2017-RSAT-MONR-I-X5-00 5,607 5,607 Edward Byrne Memorial Residential Substance Abuse Treatment: Men's Jail Housed Drug Abuse Treatment Program 16.593 2018-RSAT-MONR-I-U4-00 35,275 47,033 Edward Byrne Memorial Justice Assistance Grant-Women's Jail Incarceration Drug Abuse Program 16.738 2017-JAGC-MONR-I-F9-07! 1,935 1,935 Total Program 42,817 54,575 Total Federal Agency 965,055 54,575 Executive Office of the President: Direct Program: High Intensity Drug Trafficking Areas 95.001 G18MI0001A 1,638,778 - High Intensity Drug Trafficking Areas 95.001 G17MI0001A 5,936,640 High Intensity Drug Trafficking Areas 95.001 G16MI0001A 3,239,172 High Intensity Drug Trafficking Areas 95.001 G18ACOOO5A 767,986 High Intensity Drug Trafficking Areas 95.001 G17ACOOO5A 1,958,429 High Intensity Drug Trafficking Areas 95.001 G16ACOOO5A 1,095,419 High Intensity Drug Trafficking Areas 95.001 G15ACOOO5A 105,153 High Intensity Drug Trafficking Areas 95.001 G16PR0001A 1,533,042 High Intensity Drug Trafficking Areas 95.001 G17PR0001A 3,096,483 High Intensity Drug Trafficking Areas 95.001 G18PR0001A 1,980,781 Total Federal Agency 21,351,883 The accompanying notes are an integral part of this schedule. (Continued) J-6 Monroe County,Florida Schedule of Expenditures of Federal Awards and State Financial Assistance For The Year Ended September 30,2018 Federal Federal/State Agency, (Direct& Passed Pass-through Entity CFDA Pass-Through) Through to Federal Program/State Project Number Contract/Grant Number Expenditures Subrecipients Department of Transportation: Direct Program: Federal Aviation Administration-Airport Improvement Program Key West AIP-3751 20.106 3-12-0037-051-2015 173,076 Key West AIP-3752 20.106 3-12-0037-052-2016 21,312 Key West AIP-3753 20.106 3-12-0037-053-2016 7,447,519 Key West AIP-3754 20.106 3-12-0037-054-2017 2,679,675 Key West AIP-3755 20.106 3-12-0037-055-2017 9,127,295 Marathon Al P-4435 20.106 3-12-0044-035-2016 414,162 Marathon Al P-4434 20.106 3-12-0044-034-2016 143,830 Total Program 20,006,869 Federal Highway Administration: Highway Planning and Construction Cluster Passed through Florida Department of Transportation: Transportation Planning Program 2012 20.205 25222811407/AQN53 146,949 Scenic Highway Overlooks 20.205 428064-1/AR386 436,413 Rowell's Scenic Overlook 20.205 4366751/G0677 61,804 The Pigeon Key Ramp Repair Design Project 20.205 436566-1/ARQ41 26,119 Total Highway Planning and Construction Cluster 671,285 Federal Transit Administration: Enhanced Mobility of Seniors and Individuals with Disabilities 20.513 148,221 National Highway Traffic Safety Administration: The Keys to Safe Biking&Hiking 20.600 GOP95 78,272 Total Federal Agency 20,904,647 Department of Homeland Security: Passed through Florida Division of Emergency Management: Emergency Management Performance Grant FY17-18 97.042 18-FG-7A-11-54-01-106 47,576 Emergency Management Performance Grant FY18-19 97.042 19-FG-AF-11-54-01-121 17,784 Disaster Grants-Public Assistance-Hurricane Irma 97.036 4337 12,352,634 Total Program 12,417,994 Passed through the City of Miami: Homeland Security Grant Program-2016 97.067 17DS-V9-11-23-02-346 47,803 Total Federal Agency 12,465,797 Department of Commerce: Economic Development Administration Disaster Recovery Coordinator 11.307 04-79-07268 31,507 Total Federal Agency 31,507 The accompanying notes are an integral part of this schedule. (Continued) J-7 Monroe County,Florida Schedule of Expenditures of Federal Awards and State Financial Assistance For The Year Ended September 30,2018 Federal Federal/State Agency, (Direct& Passed Pass-through Entity CFDA Pass-Through) Through to Federal Program/State Project Number Contract/Grant Number Expenditures Subrecipients Department of Energy: Passed through Florida Department of Economic Opportunity: Weatherization Assistance Program-2017 81.042 17WX-OG-11-54-01-039 13,820 Total Federal Agency 13,820 Environmental Protection Agency: FL Keys Waterwatch 66.436 OOD41115-1 9,123 Water Quality Monitoring 66.436 OOD40915-1 22,749 Total Federal Agency 31,872 Election Assistance Commission Passed through Department of State-Division of Elections Elections Security HAVA Grant 90.404 19.e.es.000.026 100,746 Albert Network Monitoring Solution Grant 90.404 19.e.an.000.016 16,772 Total Federal Agency 117,518 United States Treasury Department: Equitable Sharing Agreement 21.000 266,019 Total Federal Agency 266,019 Passed through Department of Environmental Protection: Clean Vessel Act Grant Program FY17(CVA17-818) 15.616 MV266 CVA17-818 135,458 Clean Vessel Act Grant Program FY18(CVA18-830) 15.616 MV279 CVA18-830 45,000 Total Federal Agency 180,458 - Department of Agriculture:Natural Resources Conservation Service Emergency Watershed Protection Program Hurricane Irma-Debris Removal 10.923 NR184209XXXXCO27 3,349,187 1,194,278 Total Federal Agency 3,349,187 1,194,278 Total Expenditures of Federal Awards $ 60,551,909 $ 1,248,853 The accompanying notes are an integral part of this schedule. (Continued) J-8 Monroe County,Florida Schedule of Expenditures of Federal Awards and State Financial Assistance For The Year Ended September 30,2018 Passed CSFA State Through to State Agency Number Contract/Grant Number Expenditures Subrecipients Florida Division of Emergency Management: Emergency Management Programs FY17-FY18 31.063 18-BG-W9-11-54-01-107 $ 85,653 $ Emergency Management Programs FY18-FY19 31.063 19-BG-21-11-54-01-028 27,946 Total Department 113,599 Florida Department of Children and Families: Community Care for Disabled Adults-FY15-FY18 60.008 KG070 22,055 Community Care for Disabled Adults-FY18-FY21 60.008 KG073 11,036 Total Department 33,091 Florida Department of Elder Affairs: Passed through The Alliance for Aging: Alzheimer's Disease Initiative-2017 65.004 KZ1797 133,922 Alzheimer's Disease Initiative-2018 65.004 KZ1897 41,598 Total Department 175,520 Florida Department of Environmental Protection: Small County Consolidated Grant 37.012 SC824 90,909 Statewide Surface Water Restoration and Wastewater Projects: MC Canal 75 Backfill&Canal 48,59,79,80 Augm Aeration 37.039 LP44073 1,306,192 Monroe County Marine Debris Removal 37.039 LP44074 653,003 Total Program 1,959,195 Clean Water State Revolving Fund Loan 37.077 WW440710 20,624,861 Other State Financial Assistance: Monroe County Mobile Vessel Pumpout Service NA MV267 375,000 Monroe County Mobile Vessel Pumpout Service NA MV282 69,413 Total Program 444,413 Total Department 23,119,378 Florida Department of Health: EMS County Award 64.005 C6044 13,966 Total Department 13,966 Florida Department of Juvenile Justice: Intensive Delinquency Diversion Service 80.022 X1718 138,037 Total Department 138,037 Florida Department of State: State Aid to Libraries-2017 45.030 17-ST-35 18,947 State Aid to Libraries-2018 45.030 18-ST-35 14,113 Total Department 33,060 The accompanying notes are an integral part of this schedule. (Continued) J-9 Monroe County,Florida Schedule of Expenditures of Federal Awards and State Financial Assistance For The Year Ended September 30,2018 Passed CSFA State Through to State Agency Number Contract/Grant Number Expenditures Subrecipients Florida Department of Transportation: Transportation Planning Program 2012 55.023 25222811407/AQN53 41,222 Pigeon Key Ferry Service 55.023 41454515802/ARX57 138,938 Total Program 180,160 Aviation Development Grants: Key West Airport 55.004 43791919401/G0553 56,216 Key West Airport 55.004 43928519401/GOE77 166,539 Key West Airport 55.004 43866619401/GOE47 353,651 Key West Airport 55.004 43867129401/GOE40 594,771 Key West Airport 55.004 43867019401/GOE46 302,601 Key West Airport 55.004 44138319401/GOR04 76,402 Key West Airport 55.004 43867719401/GOE45 93,276 Key West Airport 55.004 43113389401/G0562 9,615 Key West Airport 55.004 43870519401/G0157 8,182 Key West&Marathon Airport 55.004 43113379401/AQH10 535,246 Key West&Marathon Airport 55.004 25426929401/AQE35 258,476 Marathon Airport 55.004 43113129401/ARK80 35,792 Marathon Airport 55.004 43868019401/GOE44 14,355 Marathon Airport 55.004 43868319401/GOE41 22,459 Marathon Airport 55.004 43866419401/GOE76 55,874 Marathon Airport Planning Studies 55.004 43928619401/G0122 134,730 FL Keys Marathon Airport Land Acquisition 55.004 43959119401/GOU78 2,800 Total Program 2,720,985 Small County Outreach Program and Rural Areas of Opportunity: Garrison Bight Bridge at Palm Ave 55.009 431918-2/GOK65 734,099 Key Largo 11 Roadway&Drainage Improvements 55.009 441888-1/G0009 151,557 Total Program 885,656 Total Department 3,786,801 Florida Fish&Wildlife Conservation Commission: Passed through Department of Environmental Protection Other State Financial Assistance: Monroe County Initial 2017-2018 NA 13101 -FK146 70,000 Monroe County Maintenance 2017-2018 NA 13101 -FK 151 80,000 Total Department 150,000 Florida Housing Finance Corporation: State Housing Initiative Partnership Program 2016-2017 40.901 SHIP 16-19 FY16 FUNDS 22,383 State Housing Initiative Partnership Program 2017-2018 40.901 SHIP 16-19 FY17 FUNDS 146,936 State Housing Initiative Partnership Program 2018-2019 40.901 SHIP 16-19 FY18 FUNDS 56,398 Total Department 225,717 Total Expenditures of State Financial Assistance $ 27,789,169 $ The accompanying notes are an integral part of this schedule. (Continued) J-10 Monroe County,Florida Notes to Schedule of Expenditures of Federal Awards and State Financial Assistance For the Year Ended September 30,2018 Note 1—Basis of Presentation The Schedule of Federal Awards and State Financial Assistance Projects (the"Schedule")presents a summary of the activity of all the Federal and State grant programs of Monroe County, Florida (the "County") for the fiscal year ended September 30, 2018. The County's reporting entity is defined in Note 1 of the notes to the County's basic financial statements. Federal awards are presented for each federal agency by the Catalog of Federal Domestic Assistance (CFDA)number and state awards are presented for each state agency by the Catalog of State Financial Assistance(CSFA)number when available in the grant agreements or determinable based on a grant's source and purpose. For grants that have not yet been assigned a CFDA or CSFA number, the schedule includes the grant with a CFDA or CSFA number of NA for not available and categorizes the funding under the sub-heading of Other Financial Assistance. Note 2—Summary of Significant Accounting Policies The accounting policies and presentation of the Schedule are presented on the modified accrual basis of accounting and in accordance with accounting principles generally accepted in the United States of America as applicable to governmental organizations. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. During the fiscal year ending September 30,2018,Monroe County elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. Note 3—Noncash Awards The amount of vehicles reported on the schedule is the value of vehicles received by the County from the Federal Department of Transportation. J-11 Monroe County,Florida Notes to Schedule of Expenditures of Federal Awards and State Financial Assistance For the Year Ended September 30,2018 Note 4—Fiscal Year Obligations From Disaster Grants In FY 2018, the Department of Homeland Security's Federal Emergency Management Agency (FEMA) obligated $12,352,634 for Monroe County under its Disaster Grants—Public Assistance Grant Program (CFDA 997.036) for the County's recovery from Hurricane Irma. Of the amount obligated during the fiscal year,$8,429,035 was for expenditures incurred during the previous fiscal year. J-12 MONROE COUNTY, FLORIDA SCHEDULE OF FINDINGS AND QUESTIONED COSTS FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 Part I —Summary of Auditor's Results Financial Statement Section Type of report the auditor issued on whether the financial statements audited were prepared in accordance with GAAP: Unmodified Internal control over financial reporting: Material weakness(es) identified? _yes X no Significant deficiency(ies) identified? _yes X none reported Noncompliance material to financial _yes X no statements noted? Federal Awards and State Financial Assistance Projects Section Internal control over major programs: Material weakness(es) identified? yes X no Significant deficiency(ies) identified? yes X none reported Type of auditor's report issued on compliance for major federal awards programs and state financial assistance projects: Unmodified Any audit findings disclosed that are required to be reported in accordance with 2 CFR 200.516(a) and/or Chapter 10.550 yes X no J-13 MONROE COUNTY, FLORIDA SCHEDULE OF FINDINGS AND QUESTIONED COSTS FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 Identification of major federal awards programs and state financial assistance projects: Federal Awards Programs: Name of Program or Cluster CFDA Number Executive Office of the President High Intensity Drug Trafficking Areas 95.001 Department of Homeland Security Disaster Grants - Public Assistance— Hurricane Irma 97.036 Department of Agriculture Emergency Watershed Protection Program Hurricane Irma— Debris Removal 10.923 State Financial Assistance Projects: Name of Program or Cluster CSFA Number Florida Department of Environmental Protection Clean Water State Revolving Fund Loan 37.077 Dollar threshold used to distinguish between Type A and Type B programs: Federal $ 1,816,557 State $ 833,675 Auditee qualified as low-risk auditee for federal purposes X yes _no J-14 MONROE COUNTY, FLORIDA SCHEDULE OF FINDINGS AND QUESTIONED COSTS FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 Part II -Schedule of Financial Statement Findings This section identifies the significant deficiencies, material weaknesses, fraud, illegal acts, violations of provisions of contracts and grant agreements, and abuse related to the financial statements that are required to be reported in accordance with Government Auditing Standards. There were no findings required to be reported by Government Auditing Standards. Part III -Federal Award Findings and Questioned Costs This section identifies the significant deficiencies, material weaknesses, and material instances of noncompliance, including questioned costs, as well as any material abuse findings, related to the audit of major federal programs, as required to be reported by 2 CFR 200.516(a)of OMB Uniform Guidance. There were no findings required to be reported by 2 CFR 200.516(a). Part IV-State Project Findings and Questioned Costs This section identifies the significant deficiencies, material weaknesses, and material instances of noncompliance, including questioned costs, as well as any material abuse findings, related to the audit of major state projects, as required to be reported by Chapter 10.550, Rules of the Auditor General-Local Governmental Entity Audits. There were no findings required to be reported by Chapter 10.550, Rules of the Auditor General — Local Governmental Entity Audits. J-15 MONROE COUNTY, FLORIDA SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 No prior audit findings. J-16 (00 er"t.�� Independent Auditor's Management Letter To the Honorable Mayor and Board of County Commissioners of Monroe County, Florida: Report on the Financial Statements We have audited the financial statements of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of Monroe County, Florida (the "County"), as of and for the fiscal year ended September 30, 2018, and have issued our report thereon dated March 18, 2019. Auditor's Responsibility We conducted our audit in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; the audit requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance); and Chapter 10.550, Rules of the Auditor General. Other Reporting Requirements 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 Financial Statements Performed in Accordance with Government Auditing Standards; Report of Independent Auditor on Compliance for Each Major Federal Awards Program and State Financial Assistance Project and on Internal Control over Compliance Required by Uniform Guidance and Chapter 10.550, Rules of the Auditor General; Schedule of Findings and Questioned Costs; and Report of Independent Accountant on Compliance with Local Government Investment Policies and E911 Requirements of Section 365.172 and 365.173, Florida Statutes. Disclosures in those reports and schedule, which are dated March 18, 2019, should be considered in conjunction with this management letter. Prior Audit Findings 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 audit report. Reference to whether corrective actions have been taken is provided in separate management letters for each County agency, where applicable. Official Title and Legal Authority Section 10.554(1)(i)4., 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 financial statements. Such disclosure is included in notes to the financial statements. Financial Condition and Management Sections 10.554(1)(i)5.a. and 10.556(7), Rules of the Auditor General, require us to apply appropriate procedures and communicate the results of our determination as to whether or not the County has met one or more of the conditions described in Section 218.503(1), Florida Statutes, and to identify the specific condition(s) met. In connection with our audit of the financial statements of the County, the results of our tests did not indicate the County met any of the specified conditions of a financial emergency contained in Section 218.503(1), Florida Statutes. Pursuant to Sections 10.554(1)(i)5.b. and 10.556(8), Rules of the Auditor General, we applied financial condition assessment procedures for the County. It is management's responsibility to monitor the County's financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same. K-1 Section 10.554(1)(i)2., Rules of the Auditor General, requires that we communicate any recommendations to improve financial management. In connection with our audit, we did not have any such recommendations. Deepwater Horizon Oil Spill Section 10.556(10)(e), Rules of the Auditor General, requires a determination of the County's compliance with Federal and State laws, regulations, contracts or grant agreements related to the receipt and expenditure of funds related to the Deepwater Horizon oil spill. The County's Deepwater Horizon oil spill funds received are unrestricted and, therefore, do not have related compliance requirements. Additional Matters Section 10.554(1)(i)3., Rules of the Auditor General, requires us to communicate 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 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. Reference to such matters is provided in separate management letters for each County agency, where applicable. Purpose of this Letter 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 18, 2019 K-2 1111U ILI Cherry B,ekaert Report of Independent Accountant on Compliance with Local Government Investment Policies and E911 Requirements of Sections 365.172 and 365.173, Florida Statutes To the Honorable Mayor and Board of County Commissioners of Monroe County, Florida: We have examined the Monroe County, Florida's (the "County's") compliance with the local government investment policy requirements of Section 218.415, Florida Statutes, and E911 requirements of Sections 365.172 and 365.173, Florida Statutes, during the year ended September 30, 2018. Management of the County is responsible for the County's compliance with the specified requirements. Our responsibility is to express an opinion on the County's compliance with the specified requirements based on our examination. Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether the County complied, in all material respects, with the specified requirements referenced above. An examination involves performing procedures to obtain evidence about whether the County complied with the specified requirements. The nature, timing and extent of the procedures selected depend on our judgment, including an assessment of the risks of material noncompliance, whether due to fraud or error. We believe that the evidence obtained is sufficient and appropriate to provide a reasonable basis for our opinion. Our examination does not provide a legal determination on the County's compliance with the specified requirements. In our opinion, the County complied, in all material respects, with the local investment policy requirements of Section 218.415, Florida Statutes, and E911 requirements of Sections 365.172 and 365.173, Florida Statutes, during the year ended September 30, 2018. The purpose of this report is to comply with the audit requirements of Sections 218.415, 365.172, and 365.173, Florida Statutes, and Rules of the Auditor General. Orlando, Florida March 18, 2019 K-3 OTHER INFORMATION MONROE COUNTY, FLORIDA SCHEDULE OF RECEIPTS AND EXPENDITURES OF FUNDS RELATED TO THE DEEPWATER HORIZON OIL SPILL FOR THE YEAR ENDED SEPTEMBER 30,2018 Amount Received in the Amount Expended in 2017-18 the 2017-18 Source Fiscal Year Fiscal Year Environmental Clean Up Consortium: British Petroleum Agreement No. 140596 $ 9,386 $ - $ 9,386 $ - Note to Schedule of Receipts and Expenditures of Funds Related to the Deepwater Horizon Oil Spill In FY 2015, Monroe County received $1,107,947 from British Petroleum as a settlement under Agreement No. 140596. In FY 2018, the County earned $9,386 in interest earnings on the settlement funds received from British Petroleum. The County did not expend any of these settlement funds during the fiscal year. L-1