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Fiscal Year 2008 MONROE COUNTY, FLORIDA COMPREHENSIVE E ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEP"TEMBER 3'0, 2008 DANNY L. KOLHAG CLERK OF THE CIRCUIT COURT PREPARED BY: CLERK OF THE CIRCU�IT COURT FINANCE DEPARTMENT SA,NDRA, CARLILE FINANCE DIRECTOR MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 200' 8 PAGE INTRODUCTORY SECTION Transmittal Letter of the Clerk of the Circuit Court Al -A5 Certificate of Achievement for Excellence in Financial Reporting A6 List of Elected and Appointed Officials A7 Organizational Chart A8 FINANCIAL SECTION Independent Auditors" Report B1 - B2 Management's Discussion and Analysis C1 - C12 Basic Financial Statements: Government-Wide Financial Statements Statement of Net Assets D1 - D2 Statement of Activities D3 - D4 Fund Financial Statements Balance Sheet-Governmental Funds El - E2 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Assets E3 Statement of Revenues, Expenditures and Changes iin Fund Balances - Governmental Funds E4 - E5 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities E6 Statement of Revenues, Expenditures and' Changes in Fund Balances - Budget and Actual Major Governmental Funds: General Fund E7 - El 1 Fine and Forfeiture Fund E12 - E13 Governmental Grants Fund E14 - E16 HIDTA Grants Fund E17 Statement of Net Assets - Proprietary Funds E18 - E21 Statement of Revenues,. Expenses and Changes in Fund Net Assets - Proprietary Funds E22 - E23 Statement of Cash Flows - Proprietary Funds E24 - E27 Statement of Fiduciary Net Assets - Fiduciary Funds E28 Statement of Changes in Fiduciary Net Assets - Fiduciary Funds E29 Notes to the Financial Statements F1 - F34 Combining and Individual Fund Statements and Schedules: Combining Balance Sheet - NonMajor Governmental Funds G1 - G14 Combining Statement of Revenues, Expenditures and Changes in Fund Balances -NonMajor Governmental Funds G15 - G28 Schedules of Revenues, Expenditures and Changes in Fund Balances-Budget and Actual Special Revenue Funds: Affordable Housing Programs G29 Road and Bridge Fund G30 Tourist Development, All Districts, Two Cent G31 MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2008 PAGE Tourist Development, Administration and Promotional, Two Cent G�32 Tourist Development District #One, Three Cent G33 Tourist Development, District #Two, Three Cent G34 Tourist Development, District#Three, Three Cent G35 Tourist Development, District#Four, Three Cent G36 Tourist Development, District#Five, Three Cent G,37 Impact Fees - Roadways G38 Impact Fees - Parks and Recreation G39 Impact Fees - Libraries G40 Impact Fees - Solid Waste G41 Impact Fees - Police Facilities G42 Impact Fees - Fire and! EMS G43 Impact Fees - Employee Fair Share Housing G44 Fire and Ambulance, District #1 - Lower and Middle Keys G45 Upper Keys Health Care Special Taxing District G46 Unincorporated Area Service District - Parks and Recreation G47 Unincorporated Area Service District - Planning, Building and Zoning G48 -G49 Local Housing Assistance G50 Municipal Policing G51 911 Enhancement Fees G52 Duck Key Security District G53 Boating Improvement G54 Miscellaneous Special Revenue G55 - G56 Environmental Restoration G57 Law Enforcement Trust G58 Court Facility Fees G59 Drug Abuse Trust G60 Marathon Municipal Service Taxing Unit G61 Conch Key Wastewater Municipal Service Taxing Unit G62 Bay Point Municipal Service Taxing Unit G63 Big Coppitt Municipal Service Taxing Unit G64 Key Largo Municipal Service Taxing Unit G65 Stock Island Wastewater G66 Cudjoe-Sugarloaf Municipal Service Taxing Unit G67 Conch Key Municipal Service Taxing Unit G68 Long Key-Layton Municipal Service Taxing Unit G69 Duck Key Municipal Service Taxing Unit G70 Building Fund G71 Comprehensive Plan Land Authority G72 Sheriffs Inmate Commissary G173 Sheriff's Impact Support G174 Sheriffs Off-Duty G75 Sheriffs Grants G,76 Sheriff ff s Teen Court G77 Sheriffs South Florida Law Enforcement Trust G78 Sheriff's Shared Asset Forfeiture G79 Sheriff's Federal Forfeiture G80 MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2008 PAGE Shehffs HIDTA Administration G81 Sheriffs Airport Services G82 Sheriffs Law Enforcement Trust G813 Sheriff's Fine and Forfeiture G84 Sheriffs Interagency Communications G85 Sheriff"s 911 Gi86 Sheriffs Trauma Star G87 Sheriffs Radio Communications G8,8 Clerk's Records Modernization G89 Clerk's Court Related G90 Debt Service Funds-. All Debt Service Funds G91 Schedules of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Major Governmental Funds, One Cent Infrastructure Surtax Capital Project Fund G92 lnfrastru:cture Sales Surtax Revenue Bonds, Series 2003 Capital Projects Fund G93 lnfrastr,ucture Sales Surtax Revenue Bonds, Series 2007 Capital Projects Fund G94 Big Coppftt Wastewater Project G95 Combining Statement of Net Assets - Internal Service Funds G1916 - G97 Combining Statement of Revenues, Expenses and Changes in Fund Net Assets - Internal Service Funds G98 - G99 Combining Statement of Cash Flows - Internal Service Funds Gl 00 - Gil 03 Combining Statement of Fiduciary Net Assets - All Agency Funds G104 Combining Statement of Changes in Fiduciary Net Assets - All Agency Funds G105 - G:106 STATISTICAL SECTION Introduction Hl Net Assets by Component H2 Changes in Net Assets 1-13-1-15 Governmental Activities Tax Revenues By Source H6 Fund Balances of Governmental Funds H7 Changes in Fund Balances of Governmental Funds 1-18-1-191 General Governmental Tax Revenues By Source H110 Assessed Value and Estimated Actual Value of Taxable Property Hll Direct and Overlapping Governments H12 Principal Property Taxpayers H13 Property Tax Levies and Collections H14 Ratios of Outstanding Debt by Type H15 Ratios of General Bonded Debt Outstanding H16 Direct and Overlapping Governmental Activities Debt H17 Legal Debt Margin Information H18 Pledged-Revenue Coverage - Governmental Activities H19 Pledged Revenue Bonds and Notes - Business-type Activities H2O Demographic and Economic Statistics H21 Principal Employers H22 Full-time Equivalent County Government Employees by Function H23 MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2008 PAGE Operating Indicators by Function H24 Capital Asset Statistics by Function H25 SINGLE AUDIT/GRANTS COMPLIANCE SCHEDULES Independent Auditors' Report on Internal Control over Financial Reporting and on 11-12 Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards Independent Auditors' Report on Compliance and Internal Control over Compliance 13-14 Applicable to each Major Federal Awards Program and State Financial Assistance Projects Schedule of Expenditures, of Federal Awards and State Financial' Assistance 15 - 116 Projects Notes to Schedule of Expenditures of Federal Awards and State Financial 117 Assistance Projects Schedulle of Findings and Questioned Costs, - Federal, Awards Progirams and State 118-l19 Financial Assistance Projects Summary Schedule of Corrective Action Plan - Federal Awards Programs and State 120 Financial Assistance Projects Summary Schedule of Prior Audit Findings - Federal Awards Programs and State 121 Financial Assistance Projects Independent Auditors' Management Letter J1-J4 Iw ONROE COUNTY Y COURTHOUSE � BRANCH OFFIC La"; 500 VYH0.PS11EAhDSGRL, *r,SuIP°L �101 a*«.�y I,aav�wr�„�� PLAN LA'I 9C)N Kn' KEY WF51 FL,C"Y'L•WA 33040 aa".a a' x� g GOV F RNM1-fw7'1 C EN'rPR I Y I.. (305) 294-4641 *' � 1113820 0VI RSEA' I]IG WAY 1'AX (305) 95-3663 y PLANTATION K 1, FLORIDA 13070 1 E1.. (305)852-7145 11 RAN CH 0 F FIC,:E: �rOUN I FAX (305)852-7146 MARATHON SUB COURIHOUSL 31 I7 OVEm,,HAS HIGHWAY CLERK OF T HE CIRCUIT"COURT Rum BUILDINGMARATHON, FLORIDA 33050 50IlIGM POINT Rom) t e:1— (305) 2 9-.6 127 MONROE COUNTY PLANTATION KY Y, FIORIDA 33070 6 AX(305) 289-1745 WWW.Cw°lei"k-of-the—cC)urt,t`C7r "1 Y:i- (305)852-7145 1 AX (305)853-7440 'larch 30„ 2009 The Honorable George Neugent Mayor„ Board of County Commissioners Monroe County, Florida Dear Mayor INeugent: It is our Measure to present to you, the Board of County Commissioners and the citizens„ the Mon- roe County, Florida Comprehensive Annival Financial Deport (CAF ) for the fiscal year ended September 30, 2008. Chapter 218.39 of the Florida Statutes requires an independent certified public accountant to audit the financial statements of counties in the, State. In addition, the Federal Single Audit Act, the Florida Single Audit Act and the federal GMI3 Circular A-133 require an inde- pendent auditor to report on the government's internal controls and compliance with legal require- ments concerning the administration of federal awards and state financial assistance, This report is published to fulfill these requirements.. This report was prepared by the Finance Department of the Clerk of the Court. responsibility for both the accuracy of the presented, data and the comipl!eteness and fairness of the presentation, iincludiing all disclosures, ruts with the Clerk of the Court as Chief Financial Officer of Monroe 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 finan- cial position and results of operations of Monroe County as measured by the financial activity of its various funds; and that all disclosures needed to allow the reader to gain a comprehensive under- standing of the County's financial activity have been included. The County has established a comiprehensive 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. Se- cause 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. Cherry, Bekaert, and Holland, t. LP. have issued an unqualified ("clean"') opinion on the Monroe County, Florida financial statements for the year ended September 30, 2008. The independent auditor's report is located at the front of the financial section of this report. A-1 Management's discussion and analysis (MD A) can be found immediately following the independ- ent auditor's report and provides a narrative introduction, overview and analysis of the basic finan- cial statements. 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 is- lands that stretch more than one hundred miles into the Atlantic Ocean, These islands are con- nected in a chain-like fashion to the mainland by a series of forty-two bridges, The County seat, Key West, is approximately one hundred fifty miles southwest of Miami, Havana, Cuba lies a mere ninety miles to the south. 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 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 Offices are elective and their titles indicative of their specific function. The positions are the Clerk of the Court, Property Appraiser, Sheriff, Supervisor of Elections and 'Tax Collector. Monroe County provides a full range of services including roads, health, and social services, emergency medilical services, park and recreational services, solid waste services, airport services and other governmental services. Reportinq Entity For financial reporting purposes, the County's reporting entity consists of the Board of County Commissioners and the Constitutional Officers and the Monroe County Comprehensive Plan Land Authority, a blended comiplonent unit which though legally separate is, in substance, part of Monroe County's operations and for which the, County is financially accountable. Additional information on component units can be found in the notes to the financial statements. The Monroe County School Board and the Monroe County Mosquito Control District have not met the established criteria: for inclusion in the reporting entity, and accordingly, are excluded from this report. Bud et Formal budgetary integration is employed as a management control device during the year for all fund types except as described in the notes to the financial' statements. Monroe County follows the laws of Florida regarding the control, adoption and amendment of the budget during each fis- cal: year, The County Commission, has increased! the level of budgetary control by requiring a County Commission resolution for all cost center (depairtmiental) budgetary changes. Budgets for the Property Appraiser and the Tax Collector are approved by the Florida Department of Revenue and are, adopted as part of the General Fund by the Board of County Commissioners. The Sheriff and Supervisor of Elections prepare their budgets which are submitted to and ap- proved by the Board. The Clerk of the Court's budget is divided between court related functions, funded by court related revenues, court related functions required to be funded by the Board of County Commissioners and non-court related functions. The court related portion of the Clerk's budget funded by court related revenues is approved by the Clerks of Court Operations Corpora- tion, The rest of the Clerk's budget is approved by the Board of County Commissioners and in- cluded as, part, of the General Fund. A-2 Economic Condition Locale conomy Monroe County occupies a unique and very beautiful corner of the U.S. Our subtropical chain of islands 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 hotels. Airplane passenger arrivals decreased from 2007 by 13.0%. However, tourist and recreational sales have remained relatively stable with an increase of approximately 1.5% and hotel room rentals have increased by 3,4%, Property values through 2008 continued to, increase, However, the nationwide real estate market in 2008 experienced further decline and Monroe County expects a similar, though lesser, decline. Over a ten year period, property tax collections have risen 40.3%. Over the same period, total as- sessed value of taxable property has increased 243.3%. The growth in these economic indicators is offset by the slight decrease in taxable sailes of 3.1% from 2007 levels. The decline in taxable sales is, attributed to the beginning of the recession. The County's unemployment rate of 4,0% at September 30, 2008 is well below the state and na- tional rates of 6,2% and 5.8%, respectively', The County has historically enjoyed a strong job market. Local revenues and expenditures continue to be affected by intergovernmental pressures from re- duced federal and state aid, lack of funding for federal and state-mandated programs and ser- vices, property tax reform, the national economic downturn, higher property insurance costs, and the increased demands for stronger publlic safety services, affordable health insurance and afford- able housing. Long-term Financial Planning The County has developed the Monroe County Year 201�O Comprehensive Plan, This, plan has been approved by the state, and describes the County's goals in the areas of land use,,,, conserva- tion and coastal management„ traffic circulation; mass transit; ports, aviation and related facilities„ affordable housing; potable water-, solid waste; sanitary sewer;, storm water clrainagem natural groundwater aquifer recharge„ recreation and open space; intergovernmental coordination; and capital improvements. The County's ability to use tax levies to stabilize difficult situations was limited in 200,8 by the Leg- islature's imposition of limits on the assessment of homestead property, The County is balancing new limits on ad vailorem tax revenues with the restoration of General Fund reserves used to pro- vide services and control employee turnover. The Board responded to the current economic con- ditions by implementing rigorous cost controls, eliminating employee positions, and reorganizing County divisions. The Board continues to focus on its efforts to balance costs, services to Monroe County citizens, and fair compensation to its employees. The County provides health care coverage for 333 retirees, The County has implemented the re- quirements of GASB Statement No. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions in the current year, The Board has reviewed es- timates of the unfunded cost for future years' benefits, and staff is developing strategiies to fund and otherwise manage the financial impact to the County. A-3 Relevant Financial Policies, During 2008, the Board approved an appropriation policy whereby 70%-82.5% of estimated ending fund balances are appropriated in the budget process as opposed to the previous policy of 77,5% of estimated fund balance. In addition, 95% of the fund balance in the One Cent Infrastructure Surtax Fundr may be appropriated. Ma or Initiativesj_ Several projects were underway in 2008 in furtherance of the County's Comprehensive Plan. Capital project improvements included the construction of a new judicial building in Key West, coni- struction of two fire stations, a new medical examiner facility, and a new park on Big Pine Key. These improvements are to be funded from the County's capital project funds and the proceeds of a bond issue collateralized by sales tax revenues, The County has issued bonds to assist in, the construction of a new Key West airport terminal, The bond proceeds, federal and state entitlement revenues, passenger facility fees and capital project funds will provide a modern, more secure facility. Construction is expected to be complete by August, 2009. Municipal service taxing districts have been created to support the cost of wastewater projects in Conch Key, Bay Point, Bigi Coppitt, Key Largo, Stock Island, Cudjoe and Sugarloaf Keys, Long Key, Layton, and Duck Key, The Big Coppitt, Islamorada, Key Largo and Ocean Reef, Shark Key, Geiger Key and Rockland Key wastewater projects are under construction. The Stock Island, Bay Point, City of Layton, Key Colony Beach, Little Venice and Conch Key projects have been com- pleted. The wastewater projects are funded by grants, capital project funds and the proceeds, of revenue notes provided by the Florida Rural Utility Financing Commission. 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, 2007. This was the twentieth consecutive year that the government has achieved this prestigious award. In order to be awarded a Certificate of Achievement, a government must publish an, easily readable and ef- ficientlily organized comprehensive annual financial report. This report must satisfy both U.S. gen- erally 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 certifi- cate. The County also submits, its budget document to GFOA, and has received GFOA's Distinguished Budget Presentation Award for ten years. This report is the product of the dedication of the Finance Department under the direction of the Clerk of the Court of Monroe County as Auditor and Chief Financial Officer to the Board of County Commissioners. We would like to express our appreciation to the, entire Finance Department, as well as other County departments, for their assistance in the preparation of this report. We also ex- tend', our thanks and appreciation to our independent auditors Cherry, Bekaert and (Holland, L.L.P. A-4 for their outstandiing efforts and assistance. In closing, we thank the County Commissioners for their interest and support to us throughout the year, Sincerely, ann .L Kolhiage Sandra Carlile Clerk of the Circuit Court Finance Director and Chief Financial Officer A-5 Certificate of Achievement for Excellence in Financial Reporting Presented to Monroe County Florida For its Comprehensive Annual Financial Report for the Fiscal Year Ended September 30, 2007 A Certificate of Achievement for EAcellence in Financial Reporting is presented by the Government Finance Officers Association of the United States and Canada to government units,and ptiblic ernployee retirement systerns whose comprehensive annual financial reports(CAFRs)achieve the highest standards in govermnent accounting and financial reporting, W SIAA to WAS k" ACOMMON President Executive Director A-6 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS C EORGE NEUGENT„ MAYOR DISTRICT 2 KIM WIGIINC TON HEATHER CARUTHERS DISTRICT 1 DISTRICT MARIO DIGEN NARO SYL.' IA MUIRPHY DISTRICT 4 DISTRICT 5 COUNTY ADMINISTRATOR ROMAN I OATESI CLERK OF THE CIRCUIT COURT AND CHIEF FINANCIAL. OFFICER DANNY L. KOL.HACE A_ Z 0 0 > W w IL LU w Z, 0 LL x M 0) cn z 0, uj aC lid -j ui 10 w w 0 w W M x uj UL 0 wi LU u L w < LU uj w LLJ 0 < w 0 U) ate, z o x w w uj 0 —T—j 0) LL cr LU C) F- w 0 w mm W 0 z 0 W, u g 0 60 LLJ co z z w -1 0 U) ch 0 L I a �2 , - LLJ -1 0 m uj Ix 0 0. ui 0 t w 0 uj cc 0. uj a CL -j z w w co w 0 ui 0 0 Q U U) W Z 0 < Z M w L) LL w 0 0 z z 0 -j a Z� w wo w w D C4) I-- m ui 0 w z u w 0 u 0 z Lu0 o 3 c m < ix 0 w �e CL o u 0 0 0 a. w 0 fL 7x z< ix -1 5 3: U)r 00 w 3: �uj w w 0 ui 0 0 N >- r. UJ = z m -j tr Z M 0 ui 0 0 w C) w w m 0 m 0 z u N =UJ I < z L) w rr 75, S o u -j z w < 0 occ U 0 D oz(D LL 00 LL z CL w w U. m-G V ui 0 ...... U. w LM 0 z ._j 0 w 0 z w 0 -j D w 0 z w c u 0 w m V) z w LLJ' w 2 > M W w C Ou W F- 0 Z (n U. -,; w z w III w 0 u w 0 U -10 Z ca 2 E a 2 c 44 m zw�u uj w u W Ui w �e U) u 0 ix ix 0 >2, uj w W— E w W UJ Ul Z LU -M < x 2 W0 42 w w Ui A-8 INDEPENDENT AUDITORS' REPORT To the Honorable Mayor and Board of County Commissioners of Monroe County, Florida: We have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund and the aggregate remaining fund information! of Monroe County, Florida (the "County") as of and for the year ended September 30, 2008„ which, collectively comprise the County's basic financial statements as listed in the table of contents. These financial statements are, the responsibility of the County's maniagemient. Our responsibiliity 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 standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examiiniing, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also Includes assessing the accounting principles used and the significant estimates made by management, as well! as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinions. in our opinion, based on our audit, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business- type activities, each miajior fund, and the aggregate remaining fund information of the County, as of September 30, 2008, and the respective changes in financial position and cash flows, where applicable, thereof and the respective budgetary comparison for the General Fund, Fine and Forfeiture Fund, Governmental Grants Fund, and the HIDTA Grants Fund, for the year then ended in conformity with accounting principles generally accepted in the United States of America. B-1 In accordance with Government Auditing Standards, we have also issued our report dated March 30, 2009 on our consideration of the County's internals 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 to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and:, not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit. The management's discussion and analysis section as listed in the table of contents is not a required part of the basic financial statements but is supplementary information required by the Governmental Accounting Standards Board, We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentation of the required supplementary information. However, we did not audit the information and express no opinion on it. Our auldlit 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 and the statistical section 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 Projects are also presented for the purpose of additional analysis as required by the U.S. Office of Management and Budget Circular A-133, Audits of States, Local Governments,, and Non-Profit Organizations and Chapter 10.550, Rules of the Auditor General, and is not a required part of the basic financial statements. The combining and individual fund statements and schedules and the accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance Projects, have been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, are fairly presented in all material respects in irelation to the basic financial statements taken as a whole. The introductory and statistical sections have not been subjected to the auditing procedures appllied in the audit of the basic financial statements and, accordingly, we express no opinion on them. CHERRY, BEKAERT & HOLLAND, L.L.P, Ar Orlando, Florida March 30, 2009 B-2 Management's Discussion and Analysis As Finance Department management under the direction of the Chief Financial Officer and Clerk of the Circuit Court in Monroe County, we offer readers this narrative overview and analysis of the financial activities of Monroe County Government for the fiscal year ended September 30, 2008. We encourage readers to consider this information in conjunction with additional information furnished in the letter of transmittal of the report and the basic financial statements for an overall view of Monroe County"s activities. Financial Highlights • Monroe County's total net assets exceeded its liabilities at September 30, 2008 by $487,642,471 an increase of $20,643,348. Net assets for governmental activities were $400,269,201 and $87,373,270 for business-type activities. • Unrestricted net assets, available for Monroe County's ongoing obligations to citizens and creditors were $148,243,873, an increase of $49,667,526. Governmental activity unrestricted net assets were $128,249,820. Business-type activity unrestricted net assets were $19,994,053, • At September 30, 2008 Monroe County's governmental funds statement reported combined ending fund balances of $173,580,004. Of this amount, $140,274,211 remains in the various fund types of Monroe County as unreserved. • The General Fund reported a fund balance of $16,470,425, an increase from the last fiscal year of $2,368,007. • Bonded debt and loans of Monroe County increased $43,779,584 in 2008. Monroe County's percentage of bonded debt and loans compared to net assets increased from 10.9% to 19.4%. Overview of the Financial Statements This discussion and analysis is intended to serve as an introduction to Monroe County Government's basic financial statements, which include government-wide statements, fund statements, as well as notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements. Government-Wide Financial Statements Government-wide financial statements are designed to provide the reader with a broad overview of the financial position of Monroe County and are similar to private-sector financial statements. They include a Statement of Net Assets and a Statement of Activities. These statements, appear on, pages D-1 through D-4 of this report, The Statement of Net Assets shows the County's assets less its liabi'llities at September 30, 2008, The difference between these assets and liabilities is reported as net assets. Changes in net assets over time may be indicative of an improving or deteriorating fi°nanciali position. Net assets are reported in three categories: 1) invested in capital assets, net of related debt, 2) restricted, and 3) unrestricted. C-1 The Statement of Activities, which follows the Statement of Net Assets, presents informaition showing how the net assets changed during fiscal year 20018. 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. Such items include revenues earned and expenses incurred but not yet paid as well as unused vacation leave, all of which wwilll produce changes in, cash in a future fiscal period. Both statements attempt to distinguish functions of Monroe 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 (busin,ess-type, activities), Governmental activities reported in the statements include general government, public safety, physical environment, transportation, economic environment, human services, culture and recreation, and court related. Business-type activities include Monroe County's airports, solid waste and landfill operations, and the Card Sound Road and Toll Bridge. 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, Monroe County, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-renated legal requiirements. All of the funds of Monroe 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-wiide statements. Therefore, reconciliations are provided as a link between both the governmental fund statements and the government-wid:e statements to assist in this comparison. 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 Monroe County's statements include: the General Fund, three Special Revenue Funds: Fine andl Forfeiture, Governmental Grants, and HIDTA Grants, and four capital project funds: One Cent Infrastructure Surtax, Infrastructure Revenue Bonds, Series, 2003, Infrastructure Sales Surtax Revenue Bonds, Series 2007 and Big Coppitt Wastewater Project. Although there are many smaller governmental funds in Monroe 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, C-2 Proprietary Funds Monroe County maintains two different types of proprietary funds, enterprise and internal service. The proprietary fund statements appear on E-1 8 through E-27 of this report, Enterprise funds are used to report business-type activities in the government-wide financial statements. Monroe County maintains four major enterprise funds: Municipal Service District-Waste, Key West Airport, Card Sound Bridge, and the Marathon Airport. There are no inon-major enterprise funds. Internal service funds are used to accumulate and allocate costs among Monroe County's various functions. Monroe County uses internal service funds to account for insurance activities (worker's compensation, group, health and risk management) and fleet maintenance 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 giovernment-wide financial statements as governmental activities. They are also combined into a single, aggregated presentation, in the proprietary fund financial statements, Fiduciary Funds Monroe 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 Monroe 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 Monroe County's own programs. The accounting used for fiduciary funds is much like that used for proprietary funds. The fiduciary fund financial statements appear on pages E-28 through E-29 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 Combining and individual statements and schedules mentioned earlier, which present details of non- major funds used in governmental and enterprise funds, commence on page G-1 and continue throughout the entire G page section. This section, also includes the budget to actual schedules, and statements for major capital project, internal service and agency funds. Additional information, about Monroe County can be found under the Statistical Section in the H page section and the Single Audit Section in the I page section of this report. Government-Wide Financial Analysis Monroe County Net Assets (in thousands) Governmentall Business-type Total Primary Activities activities Government ............................ ............ 2008 2007 2008 2007 2008 2007 Current and Other Assets $234,673 $197,994 $45,118 $62,572 $279,,791 $260,566 C-3 Governmental Business-type Total PHmary Activities Activities Government 2008 2007 2008 2007 2008 2007 ............ ......-------- Capital Assets 279,394 251,916 78,498 60,365 357,892 312,281 .......... Total Assets 514,067 449,910 123,616 122,937 637,683 572,847 ........ ................... Current/Other Liabilities 38,821 36,899 8,235 11,698 47,,056 48,597 Long-Term Liabilities 74,977 23,085 28,008 34,166 102,985 57,251 ............. Total Liabilities 113,798 59�„984 36,243 45,864 150,041 105,848 ................ Net Assets: Invested in Capital Assets, Net of Related Debt 253,773 243,296 60,229 52,893 314,002 296,189 Restricted 18,246 67,710 7,150 4,524 25,396 72,,234 Unrestricted 128,250 78,920 19,,994 '19,656 148,244 98,576 Total Net Assets $400 269 $389,926 $87,373 $77,073 $487,642 $466,999 The overall financial position, of Monroe, County improved In both fiscal years 2008 and 20017. Changes in net assets over time can be one of the best and most useful indicators of a government's fiinanciail position. Monroe County's change in net assets for the fiscal years ending 2008 and 2,007 were $20,643,348 and $,24,628,293, respectively. The 2008 increase in net assets was $3,984,945 less than the prior year. The largest portion of net assets for 2008 and 2007 is Monroe County's investment in capital assets (e.g,, land and depreciated buildings, infrastructure and equipmient) less any outstanding debt related to their acquisition. This category represents 64,4% and 63,4% of total primary government net assets for fiscal years 2008 and 2007. Monroe County uses these capital assets to provide services to citizens„ consequenitly, these assets, are not available for future spending. Although, Monroe 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. Total primary government net assets above also include restricted net assets. Restricted net assets are resources subject to externaV restriction on how they may be used. The restrictions reported for business-type activities are comprised of' the lanidfilll closure and post closure costs and the Key West Airport's debt service payments and passenger facility charges. 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 assets is unrestricted net assets. Unrestricted net assets may be used to meet the County's ongoing obligations to citizens and creditors. The 2008 increase in current and other assets arose from a decrease in: cash, restricted:, cash and accounts receivable, offset by increases in investments, amounts due from other governments and restricted investments. The County used restricted and unrestricted cash to reduce accounts payable, purchase investments and provide working capital for grant reimbursements. The increase in, amounts due from other governments is related to the reduction in cash. Accounts receivable decreased as the County collected outstanding Insurance reimbursements from hurricane damage sustained in prior years. Restricted investments increased because of debt proceeds, most of which were unspent by the end of the fiscal year. Restricted and unrestricted investments increased as County assets were taken from the Florida State Board of Administration investment pool and placed in government agency securities. C-4 The increase in capital assets is related to several large construction projects including the judicial center, the Big Pine Key Fire Facility, the medical examiner facility, the Upper Keys government center, infrastruicture projects, for wastewater facilities, a Big Pine Key park and the Key West airport facility. Current and other liabillifies decreased as cash balances were used to reduce, accounts payable, offset by a significant increase in the, current amount of revenue notes and bonds payable, Long-term liabilities increased as a result of the issuance of sales tax revenue bonds and revenue notes funded by the state for rural utillity projects such as the Counity"s wastewater improvements. Long-term liabilities also increased due to the riecogniition of other post employment (benefit costs. Comparison of Current Assets and Liabilities (in thousands) A comparison of current assets as compared to current liabilities for both governmental and business- type activities can be a good indication of Monroe County's ability to meet its current and existing operational responsibilities. The ratios for the current and prior fiscal years are as follows: Governmental Buisilness-type Activities, Activities 2008 2007 20018 200�7 ___.. ......... .............. Current Assets $227,182 $190,905 $32,171 $ 49,786 Cuirrent Liabilities $ 38,821 $ 36,898 $ 8�,235 $ 11,698 Ratio of Current Assets to Current Liabilities 5.85 5,17 191 4.26 The schedule above demonstrates that Monroe County has more than adequate cash flows, Monroe County Changes in Net Assets (in thousands) Governmental Business-type Total Primary Activities A00ties Government 2008 2007 2008 2007 2008 2007 Revenues: Charges for Ser0ces $25,568 $27,179 $21,155 $21,957 $46,72,3 $49,,136 Operating Grants and Contributions 34,506 31,703 5,802 4,514 40,308 36,217 Capital Grants and Contributions 6,160 2,981 6,538 3,299 12,698 6,280 General Revenues: Property Taxes 74,581 77,370 - - 74,581 77,370 Other Taxes 48,291 49,874 48,291 49,874 State Revenue Sharing 3,181 3,303 - - 3,181 3,303 Investment Income 7,862 11,232 1,207 1,984 9,069 13,216 Miscellaneous 4,818 8„598 302 3221 5120, 11,819 Total Revenues 204,967 2 112,240 35,004 34,975 239,971 247,215 Governmental Business-type Total Primary Activities Activities Government 2008 2007 2008 20,07 2008 2007 ............ Expenses: General Government 36,241 38,903 36,241 38,903 Public Safety 98„086 95,,818 98,086 95,818 Physical Environment 4,743 9,037 4,743 9,037 Transportation 6,280 6,503 6,280 6,503 Economic Environment 18,269 18,205 18,269 18,205 Human Services 9,235 9,699 9,235 91,699 Couture and Recreation 8,181 3,469 8,181 3,469 Court Related 9,367 10,110 9,367 10,110 Interest on Long-Term Debt 2,299 799 2,299 799 Solid Waste - - 150694 15,444 15,694 15,444 Toll Bridge 1,331 1,070 1,331 1,070 Key West Airport 7,028 9,672 7,028 9,672 Marathon Airport - 2,574 3 858 2,574 3,858 'Total Expenses 192,701 192,543 26,627 30,044 219,328 222,587 Change in, Net Assets Before Transfers 12,266 19,697 8,377 4,9'31 20,643 24,628 'Transfers Z4 _j,114q5) 1,923 1,435 Change un Net Assets 10,343 18,262 10,300 6,366 20,643 24,628 Net Assets, Beginning _""_189,926, 371 664 77 073 70,707 466,999 442 Net Assets, Ending $400,269 $389,926 $87,373 77 07 487 642 $466,999 Governmental Activities The graph on the next page represents a comparison of program revenues to program expenses for governmental activities in fiscal years 2008 and 2007. It is apparent from these graphs, that general revenues were required to cover expenses in each of the functions noted. C-6 Monroe County, Florida Governmental Activities (in Miilli:ons) For the year ended September 30, 2008 8 Program Revenues OPrograim Expenses 120.0 - 98,1 100-0 - — 80.0 - 60.0 - 40.0 - 36.2 40-E 200 - 12 4�6 47 03 63 OA 183 20 9,2 02 0,0 8,2 499.4 .......= ,— I = I M U) a: X C) 0 9 -0 @ :) M (D (D 0 5 < 0 :2 0 C (D (D 0 0 E� D 0 W 0 Z) 0 (D :3 3 @ 3 0 3 3 0 CD M w CD 5° The largest revenue sources for governmental) activities in 20018 are property taxes in the amount of $74,581,111 and all other taxes totaling $48,291,193, Total taxes of $122,872,304 amounted to 60.0% of Monroe County's governmental activity revenues excluding transfers. The second largest revenue source is operating grants at 16,8% of governmental activity revenues excluding transfers. The 2008 graph identifies the largest expense function as public safety amounting to $98,085,625,. This is, 50.9% of the total expenses for governmental activities. The second largest function is general government in the amount of $36,241,222 or 18,8% of total expenses, for governmental activities. The general government expenses include the Tax Collector, Property Appraiser, Clerk of the Circuiit Court, and the Supervisor of Elections. Monroe County, Florida Governmental Activities (in Millions) For the year ended September 30, 2007 N Program Revenues 0 Program Expenses 120.0 - 10&0 - 95.8 80,0 - 60.0 - 38.9 87. 40.0 - 1 9.0 18,2 93 20.0 - 1.3 0.1 6.5 2.1 03 15 5,610" 0.0 1 11-1 , 77 - 0 G) :3 CD M 0 w < 0 0 C< (D 0 3 =) 0 0 0 = 0 CD (D 5 :3 3 0 (D W CD 0 ;0 3 3 0 3 0 go CD (D w (D U (D C-7 The largest revenue sources for governmental activities in 2007 are property taxes in the amount of $77,370,025 and all other taxes totaling $49,874,175, Total taxes of $127,244,200 amounted to 60,0% of Monroe County's governmental activity revenues excluding transfers, The second largest revenue source is operating grants at 14.9% of governmental activity revenues excluding transfers The 2007 graph identifies the largest expense fuinction as public safety amounting to $95,817,557, This is 49.8% of the total expenses, for giovemmiental activities. The second largest function, is general government in the amount of $38,902,793 or 20.2% 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 cha,rges for that service. Charges for services revenues in 2008 amount to $21,154,921 or 60.4% of all revenue sources. Other revenue sources include operating grants, capital grants, contributions, investment income, and miscellaneous. Total revenues excluding transfers from other funds were in excess of expenses excluding transfers to other funds by $8,376,233, The change in net assets in 2008 was $10,299,671, This represents an increase of $3,933,312 from the prior year, mostly attributable to capital grants used to fund the construction of the new Key West Airport Terminal, Financiail Analysis of Monroe County's Funds Governmental Funds As mentioned earlier in the Financial Highlights, Monroe County's governmental funds reported combined fund balances of $173,580,004 at the end of the current fiscal year. This represents a 25,1% increase from the prior year. Governmental funds' unreserved fund balance totals were $140,274,211, an increase of 16.7% from the prior year and 80.8% of the total fund balance. Reserved fund balances are as follows: $20,403,917 to meet current commitments (encumbrances) in the next fiscal year; $2,154,271 for Monroe County Land Authority land and land rights, acquisition; $6,740,579 for mortgage loans receivable-, and $4,007,026 for payment of debt service. The Monroe County Land Authority is a blended component unit of Monroe County and is reported as a non-major special revenue fund. The General Fund is the chief operating fund of Monroe County and automatically, one of Monroe County's major funds. At September 30, 2008, total fund balance in the general fund was $16,470,425. Total revenues decreased $4,518,967 or 10.6% from the, previous year. Revenue from taxes increased $6,559,388 due to a reallocation of 2008 millage. The increased revenues were more than offset by a decrease, in intergovernmental revenues attributable to a reclassification of intragovernmental transactions. Expenditures also decreased $11,650,376 or 12.7%. Most of the expenditure decrease is related to the reclassification of public safety intragovernimental expenditures related to the intragovernimental revenue reclassilfication, C-8 Other Major Fund Information (in thousands) Fine and Forfeiture Governmental Grants HIDTA 2008 2007 2008 2007 2008 2007 Revenues and Other Sources $44,419 $ 52,751 $9,929 $ 15,061 $22,337 $21,,298 Expenses and Other Uses 44,217 45,267 10,550 7,408 22,337 21,298 -------- ------ -—Increase/(Decrease) in Fund Balance $ 202 $ 7,484 _.LJ �211_ $ 7,653 $ $ One Cent Infrastructure Infrastructure Revenue Surtax Bonds Series 2003 ....... ......... .......... ......— - ---, 2008 2007 2008 2007 Revenues and Other Sources $ 16,491 $ 17,231 $ 6,088 $ 5,7511 Expenses and Other Uses 18,073 34,858 12,850 10,153 Increase (Decrease) in Fund Balance _Ujry58 1L7,6?ZJ 6,762 .402L Infrastructure Sales Surtax Revenue Bonds Big Coppitt Wastewater Series 2007 2008 2007 2008 200�7 Revenues and Other Sources $ 31,049 $ $ 26,767 $ Expenses and Other Uses 6,226 13,004 Increase(Decrease) in Fund Balance $ 24,823 $ $ 13,763 $ Fine and Forfeiture Special Revenue Fund Tax revenues decreased because of a significant reallocation of milliage rates. Expenditures also decreased in response to anticipated economic conditions. Governmental Grants Special Revenue Fund Grant revenues and expenditures for hurricanes declined as damage claims incurred in prior years were complleted, In the current year, a significant grant for the Big Coppitt wastewater project was used, to assist in infrastructure construction. Grant funded expenditures were higher in relation to grant revenues as hurricane grant revenues, which require less match, declined and wastewater grant revenues, which require more match, Increased, HIDTA Grants Special Revenue Fund This fund is used to account for reimbursement grants funded by the US, Department of Justice to fight drugs trafficking. The volume of revenues and expenditures has not significantly changed as programs establiished by the grantor have been continued. C-9 One Cent Infrastructure Surtax Capital Protects Fund The citizens of Monroe County approved a one cent sales surtax which is the main revenue source in this funds. Investment revenues dropped due to the decline in interest rates ands reductions in the amount of accumulated funds invested. Wastewater management projects previously funded by sales taxes have, been funded in the current year by grant and debt proceeds,, causing a decrease in expenditures, Expenditures further decreased as the, construction of two new parks was completed. However, more funding was, transferred to the Infrastructure Surtax 2007 Revenue Bonds Capital Projects Fund to complete projects initially funded by its debt proceeds, offsetting the decline in expenditures. Infrastructure Revenue Bonds Series 200,3 Cgpital Projects Fund In 2003, Monroe County issued $21,455,000 in revenue bonds to be paid from one cent sales surtax revenues. Revenues in, 2008 increased because of transfers from, the One Cent Infrastructure Surtax Capital Projects Fund, Expenditures increased as the projects to be funded by bond proceeds are nearing completion. Infrastructure Sales Surtax Revenue Bands Series2007 Capital Projects Fund Monroe County issued $29,415,000 in, revenue bonds to be paid from one cent sales surtax revenues, and earned investment income on unused proceeds. A portion of the proceeds were expended on a new medical examiners' facility, new fire houses and an upper keys government center. Big Coppitt Wastewater Project Capital Projects Fund Monroe County borrowed $21,0OO,000 in Revenue Notes from the Florida Rural Utility Financing Commission to assist in the financing of the Big Co,ppitt Wastewater Project. Additional financing will be provided by state grants and assessments to property owners. Considerable progress was made in the construction of new wastewater infrastructure. Proprietary Funds Proprietary fund statements provide the same information as in the business-type activities column of the governmient-wide statements, but in greater detail and on a fund basis for enterprise funds and internal service funds. The Municipal Service District-Waste Enterprise Fund maintains Monroe County's landfills and transfer sites. Monroe County continues to out�souirce the waste hauil-out services through a major contract, The revenues are pledged to meet the debt service payment requirements on the Monroe County, Florida Solid Waste Disposal System, Refunding Revenue Note, Series 2002, The level of construction activity within the County dropped resulting in lower, revenues from landfill sites. Expenses increased due to the addition of staff and the accrual of post employment benefit costs. Card Sound BrideEnterprise Fund collects tolls used to maintain: a bridge connecting Monroe County to, the mainliand, As gas prices rose and the economy showed, toll collections dropped. lnteres,t income also declined due to a drop in interest rates. Expenses increased due to the addition of staff and the accrual of post employment benefit costs. The Key West Airport Enterprise Fund receives significant operating and capital grants. The major source of match for these grants, is accumulated funds from passenger facility fee charges paid by the various airlines. During 2006, the Key West Airport issued revenue bonds to fund the cost of a new airport terminal and related! facilities. Part of the revenue stream committed for the payment of bond principal and interest is the collection of passenger facility fees. Operating grants increased to fund early retirements of revenue bonds. Operating expenses decreased due to the completion of a major noise improvement program. Capital grants increased to provide additional funding for the, airport, termiinall construction, C-10 Other factors concerning the finances of these three major funds have already been addressed in the discussion of Monroe County's business-type activities, 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 Monroe County's operations. Insurance recoveries decreased as the County completed the recovery of hurricane damages incurred in prior years,. Personnel services increased due to the accrual of post employment benefit costs. Operating expenses increased as gas prices rose, insurance premiums increased and more fees were paid to insurance consultants hired to maximize insurance recoveries, Insurance recoveries were also transferred to funds in which, the claim expenditures originated. Capital Assets Monroe County's financiail statements present capital assets in two categories: those assets subject to depreciation, such as buildlings, infrastructure, and equipment and those not subject to depreciation such as land and construction in, process. Investment in, capital assets for both governmental ands business-type activities, net of related debt at September 30, 2008, was $314,001,790. Investment in capital assets for governmental activities is $253,773,311 and $60,228,479 for business-type activities. These capital assets include assets purchased as well as donated. They also include infrastructure assets, e.g., bike paths, roads, bridges, stormwater and wastewater sites recorded at historical cost. Monroe County has several significant general government construction projects. Construction is in process for a new government center in the Upper Keys, a new judicial center in Key, West, wastewater collection systems throughout the Keys, a new medical examiner facility and a new fire station, The new Key West airport terminal construction is underway and is expected to be completed by the summer of 20091. The Marathon airport is also undergoing major renovation, Further details are available in, Note 6 to the financial statements pages F-1 5 through F-1 7. Long-Term Debt At September 30, 2008, Monroe County had long-term debt in the amount of $109,,709,745, This debt is mainly comprised of revenue bonds and notes secured by pledges of revenues, Revenue secured debt for governmental activities is, $67,638,178 and $27,075,434 is for business-type activities. Monroe County has no general obligation bonds, Moody's Investors Service rated Monroe County, Florida Infrastructure Sales Surtax Revenue (Bonds, Series 2003 and 2007 "A2". Standard and Poor's Ratings Services also rated these issues "A+". The Monroe County Florida Airport Variable Rate Revenue Bonds rating are Aa2/AA/A+. Further details are available in Note 12 to the financial) statements pages F-22 through F-26. C-1 i Budgetary, Highlights The category changes, in the General Fund's finial budget are summarized below: The total final general fund revenue budget decreased by $2,993,828 or (7,1%) from the original budget. The only significant decrease in the original revenue budget was a reclassification of intragovernmental revenues from the charges for services, budget to intragovernmental transfers which are subject to elimination at the County-wide level. The total general fund expenditure budget decreased by $1�,085,874 or (1.27%) from the original budget. Expenditure budget adjustments were made throughout the year to conform estimates to, actual funds available. Economic Factors and Next Year's Budgets and Rates Monroe County's officials considered many factors when adopting the fiscal year 2010 budget, Included among these factors were the anticipated change in property values, property tax assessment caps imposed by the State legislature, changes iin homestead property exemptions, approved by the voters, the national economic downturn and the restoration of fund reserves. Also considered were the costs of employee benefits, increases in insurance premiums for all types of coverage, the construction of wastewater treatment infrastructure, affordable housing initiatives, the airport improvement project, and expansion of parks and recreational facilities.. Ad valorem taxes based on property values comprise approximately 72,4% of budgeted tax revenues, The Property Appraiser certified a county-wide property value of roughly $28.5 billion for fiscal year 2008. For fisca] year 2009, the county-wide property value has been certified at approximately $26.6 billion, a decrease of 6.7%. Budgeted charges for services revenue are expected to remain substantially the same in the next fiscal year. For the thirteenth year in a row', it was unnecessary to increase, solid waste residential rates because of previous successful negotiations with the contractor providing waste transportation services. Fund balances carried forward have increased by 14.0% from the prior year. Budgeted expenditures have increased by 4,0%. The County's wastewater infrastructure project is a significant part of the increase, offset by cost cutting measures which include the elimination of 4% of County staff, cuts to employee benefits, reductions in service programis, and no compensation increases. Requests for Information This financial report is designed to provide a general overview of Monroe County's finances for all those with an interest in its finances. Questions concerning any of the iinformation provided in this report or requests for additional information should be addressed to the Finance Director, Clerk of the Circuit Court, 500 Whitehead Street, Key West, Florida 33040, C-12 BASIC FNNIANCIAL STATEMENTS MONROE COUNTY, FLORIDA STATEMENT OF NET ASSETS SEPTEMBER 30, 200 Primary Government Governmental Business-Type Activities Activities Total ASSETS Current Assets: Cash and Cash Equivalents 58,682,686 $5,008,633 63„691,319 Investments 113,323,876 11,973,958 125,297,834 Accounts Receivable, Net 1,686„287 696„988 2,383,275 Internal Balances 1,077,867' (1,077,867) - Due from Other Governmental Units 8,853,071 5,744,003 14,597,074 Interest Receivable 1,335,524 251,163 1,586,687 Inventory 4,732 - 4,732 Restricted Cash and Cash Equivalents 3,455,780 2,779,966 6„235,746 Restricted Investments 38,761„790 6,793,788 45,555,578 Total Current Assets 227,181,613 32,170„632 259,352„245 Noncurrent Assets: Restricted Cash and Cash Equivalents - 3,320,410 3,320,410 Restricted Investments _ 9,229,292 9,229,292 Restricted Interest Receivable - 50,451 50,451 Mortgage/ Notes Receivable 13,475„569 13,475,569 Allowance for Mortgage/ dotes Receivable (6,734,990) 4 (6,734,990) Deferred Charges 750,233 348,141 1,098,374 Land and Other Nondepreciable Assets 163„552,519 47,081,141 210,63300 Other Capital Assets, Net of Accum Deprec 115,841,509 31,416,288 147,257,797 Total Noncurrent Assets 286,884,840 91,445,73 378,330,563 Total Assets 514,066,453 123,616,355 637,682,808 LIABILITIES Current Liabilities: Accounts Payable 16,506,628 1,031,440 17,538,068 Retainage Payable 3,570,507 160,1311 3,70,638 Accrued Wages and Benefits Payable 3,20 „481 181,280 3„390,761 Clanms and Judgements Payable 6,530,535 129,632 6,660,167 Cue to Other Governmental Units 2,446,613 59,444 2506,057 Accrued Comp. Absences Payable 662766 131,975 794,741 Other Current Liabilities 9,42 - 9,492 Deposits in Escrow 63,882 180,459 244„341 Unearned Revenue 912„438 8,671 991,109 Accrued Interest Payable 226,674 34,754 261,428 Capital Leases Payable 159,947 50,000 209,947 (Continued) The notes to the financial statements are an integral part of this statement. D-1 MONROE COUNTY, FLORIDA STATEMENT OF NET ASSETS - CONTINUED SEPTEMBER 30, 2008 Primary Government Governmental Businiess-Type Activities Activities Total Revenue Notes Payable 625,314 625,314 Revenue Bonds Payable 3,896,091 - 3,896,091 Current Liabilities Pyble frn Curr Rest Assets" Accounts Payable - 3,261,502 3,261,502 Retainage Payable 1,653,019 1,653,019 Accrued Interest Payable 84,010 84,010 Revenue Notes Payable 463,278 463,278 Revenue Bonds Payable - 735,000 735,000 Total Current Liabilities 38,820,368 8,234,595 47,054,963 Noncurrent Liabilities: Payable from Restricted Assets- Landfill Closure/Postclosure Costs - 400,433 400,433 Note Payable - - - Accrued Comp, Absences Payable 6,769,273 361,894 7,131,167 Capital Leases Payable 40,162 717,270 757,432 Revenue, Notes Payable 21,000,000 1,,512,156 22,512,156 Revenue Bonds Payable 42,116,773 24,365,000 66,481,773 Claims and Judgements Payable - 303,737 303,737 OPEB Liability 5,050,676 348,000 5,398,676 Total Noncurrent Liabilities 74,976,884 28,008,490 102,985,374 Total Liabilities 113,797,252 36,243,085 150,040,337 NET ASSETS Invested in Capital Assets, Net of Related Debt 253,773,311 60,228,479 314,001,790 Restricted: Debt Service 4,007,026 - 4,007,026 Capital Construction 14,23,9,044 5,690,744 19,929�,788 Landfill Closure and Post Closure - 1,459,994 1,459,994 Unrestricted 128,249,820 19,994,053 148,243,873 Total Net Assets $ 400,269,201 $ 87,373,270 487,642,471 The notes to the financial statements are an integral part of this statement. D-2 MONROE COUNTY, FLORIDA STATEMENT OF ACTIVITIES FOR THE YEAR ENDED SEPTEMBER 30, 2008 P,ro,2ra,m Revenues, Operating Capital Charges for Grants and Grants and FunctionslPrograms Expenses Services Contributions Contributions Primary government: Governmental activities. General Government $ 36,241,222 $ 9,949,128 $ 9,043 $ 2,937,454 Public Safety 98,085,625 8,996,772 31,554,150 40,007 Physicail Environment 4,743,017 1,205,336 168,602 3,182,785 Transportation 6,279,481 272J32 462,891 - Economic Environment 18,269,416 368,981 - - Human Services 9,235,205 431,324 1,530,127 - Culture and Recreation 8,181,402 135,947 76,855 - Court Related 9,366,707 4,208,009 704,675 - Interest on Long Term Debt 2,2919,140 - - - Total governmental activities 192,701,215 25,567,629 34,506,343 6,160,246 Business-type activities: Solid Waste 15,694,292 14,503,005 327,316 - Toll Bridge 1,330,492 1,458,415 - - Key West Airport 7,028,059 4,483,696 5,450,943 6,514,721 Marathon Airport 2,573,997 7019,805 23,485 22,781 Total business-type activities 26,626,840 21,154,921 5,801,744 6,537,502 Total primary government 219,328,055 46,722,550 $ 40,308,087 $ 12,697,748 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 Incorne Transfers Total General Revenues and Trsfs Change in Net Assets Total Net Assets-Beginning Total Net Assets-Ending The notes to the financial statements are an integral part of these statements. D-3 Net(Expense) Revenue and Changes in Net Assets_ Primary Government Governmental Business-ty,pe Activities Activities Total $ (23,345,597) $ - $ (23,345,597) (57,,494,696) - (57,494,696) (186,294) - (186,294) (5,544,458) - (5,544,458) (17,,900,435) - (17,900,435) (7,273„754) (7,273,754) (7,968,600) (7,968,600) (4,454,023) (4,454,023) (2,299,140) (2,299,140) (126,466,,997) (126,4661997) - (863,971) (863,971) - 127,923 12709'23 - 9,421,301 9,421,3,01 - �1,817,,926 1,817,926) 6,867,327 6,867,3,27 (126,466,997) 6,867,327 (119,599,670) 74,581,111 - 74,581,111 2,774,826 2,774,826 5,056,226 5,056,226 8,251,410 8,251,410 15,147,593 15,147,593 15,006,028 15,006,,028 2,055,110 2,055,110 3,181,5'30 - 3,181,530 7,861,928 1,206,849 9,068,777 4,818,350 302�,057 5,120,407 (1,,923,4,38) 1,923,438 - 136,810,674 3,432,344 140,243,018 10,343,677 10,299,671 20,643,348 389,925,524 77,073,599 466,999,123 400,269,201 87,373,270 $ 487,642,471 D-4 MONROE COUNTY, FLORIDA BALANCE �HEET GOVERNMENTAL FUNDS SEPTEMBER 30, 2008 Fine & Governmental HIDTA General Forfeiture Grants Grants Assets Cash and Cash Equivalents $ 12,937,7611 $ 2,781,768 $ 117„419 $ 128,148 Investments 8,843,057 13,843,096 1,941„233 - Accounts Receivable, Net 141,743 1,069,517 26 46 Due from Other Funds 982,597 1,043,648 274,556 - Due from Other Governmental Units 814,567 272,151 3„403,739 11,850,853 Mortgages/Notes Receivable - - 141,543 - Allowance for Mortgages/Notes Receivable - - (141,543) - Interest Receivable 62,078 228,397 - Inventory 4,732 - - - Total Assets 23,786„535 $ 19,238„577 $ 5„736,973 $ 1,979,047 Liabilities and Fund Balances Liabilities: Accounts Payable $ 2,093,181 $ 72,073 $ 236,233 $ 1,071,752 l etainage Payable 9,101 - 1,200 - Accrued 'Wages and Benefits Payable 2,1 76,242 59„133 84,723 191,044 Clue to Other Funds 2,337,506 79„085 3,005,215 79,116 Clue to Other Governmental Units 631,622 2„269 52,62.0 637,135 Other Current Liabilities 6,508 - - - Deposits in Escrow 61,950 - - Deferred Revenues - - 3,183,346 - Total Liabilities 7,316,110 212,560 6,563„337 1,979,047 Fund Balances: Reserved for: Encumbrances 17,870 - 1,660,9127 - Land Acquisition - - f'ortgage Loans - - Debt Service - - - - Unreserved, Designated for Beaches - - - - Unreserved„ Undesignated 16,452,555 19,026,017 (2,487,291) Unreserved, reported in nonmajor: Special Revenue Funds _ - Captal Project Funds - - Total Fund Balances 16,470,425 19,026,017 (826,364) - Total Liabilities and Fund Balances $ 23„786,535 $ 1.9,238,577 $ 5,736,973 $ 1,979„047 The notes to the financial statements are an integral part of these statements. E-1 One Cent Infrastructure Infra Sis Srtx Big Coppitt Nonmajor "dotal Infrastructure Revenue Bonds Revenue Bonds Wastewater Governmental Governmental Surtax Series 2003 Series 2007 project Funds Funds $ 34,544 $ 757„659 $ 3,455,780 $ 53,579 $ 30,128„096 $ 50,394,754 2.1,036,937 - 23,216,341 15,819,121 49,751„109 134,450,894 - 451,000 1,662,332. - 2,900,000 - 2,937,314 2,721,272 10,859,387 1,133„681 - - - 1,249„454 8„724,445 - - - 13,334,026 13,475,569 - - - - (6„593,447) (6„734,990) 193„401 37,937 175,,839 638 232„515 930,805 - _ - - 4,732 $ 22,398„563 $ 3,695,596 $ 26,„847, 60 $ 18,810,652 91,274„025 $ 213,767,928 $ 975,127 $ 1,366,137 $ 1,609,785 4,933,555 $ 3„659„536 $ 16,017,379 943,729 2„007,612 410p797 - 198,068 3,570,507 8,962 16„026 3,936 - 609,256 3,149,322. 2,927,961 - - 114,272 2„324„557 10,867„712. 149 - - 1,093,034 2,416,829 - - - 1,932 63,882 - - - - 912,439 4,095,785 4,855,928 3„389„775 2„024„518 5,047,827 8,798,822 40,187'„924 1,206,803 1„873,528 5,845,949 9,350„110 448,730 20,403, 17 - - - - 2,154,271 2„154,271 - - - - 6,740, 79 6„740,579 _ - - - 4,007,026 4,007,026 _ - - - 484,578 484,578 16,335,832 (1,567,707) 18,977,493 4,412,715 - 71,149,614 - - - - 68, 18,128 68„618,128 - - - - 211,891 21,891 17,542,635 305,821 24,823,442 13,762„825 82, 75,23 173„580,004 $ 22,398„563 $ 3,695,596 $ 26,847,960 $ 18,810,652 91,274,025 $ 213„767,928 -2 MONROE COUNTY, FLORIDA RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO STATEMENT OF NET ASSETS, SEPTEMBER 30, 2008 Amounts reported for governmental activities, in the Statement of Net Assets are different because: Ending Fund Balance - Governmental, Funds $ 173,580,0104 Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the governmental funds, net of accumulated depreciation of $91,944,768, 278,161,235 Deferred charges, bond/note issuance costs, used in governmental activities are amortized over the life of the debt and are not financial resources. Therefore, they are not reported in the governmental funds, 750,,233 Deferred revenues are not reported in the governmental funds as they are not current financial resources. They are reported as a reduction of deferred revenues in the Statement of Net Assets. 3,1183,347 Long-term liabilities, including bonds payable, are not due and payable in the current period and, therefore, are not reported in the funds, Revenue Bonds Payable $ (46,0112,864) Revenue Notes Payable (21,625,314) OPEB Liability (4,926,676) Capital Leases Payable (269,1109) Accrued Interest Payable (226,674) Accrued Compensated Absences (7,300,525) Total (801,292,162) 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. 24,886,544 Net Assets of governmental activities $ 400,269,201 The notes to the financial statements are an integral part of this statement. E-3 MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2008 Fine & Governmental HIIDTA General Forfeiture Grants Grants Revenues: Taxes 25,829,722 38,863,135 _ m Licenses and Permits 426,951 - - - intergovernmental 6,127,918 35,623 9,361,840 22,336,930 Charges for Services 4,027,919 3,279,864 174„934 - Fines and Forfeitures 19,408 366„157 - - Investment Income 846,474 815,630 54„704 - Muscellaneous 915„907 31,557 40,699 - Total Revenues 38„194,299 43,391,966 9„63 ,177 22,336,930 Expenditures: Current: General Government 25,299,275 491,521 - - Public Safety 40,095„704 6,804,149 1,641,169 22,334,150 Physical Environment 245„460 - 206,860 - Transportation 31,222 - 361,262 - Economic Environment 996„741 - - - Human Services 6„505„861 - 1,961„547 Culture and Recreation 2„787,363 - 101,502 - Court Related 3,909,773 50,839 - - Capital Projects - - - Debt Service 250,625 - - 2,780 Total Expenditures 80,122,024 7,346,509 4,27'2,340 22,336,930 Excess/Deficiency of Revenues Over/(Under) Expenditures (41,927,725) 36„045,457 5,359,837 Other Financing Sources/(Ulses): Transfers from Other Funds 47,107,620 1„027,216 296,482 Transfers to Other Funds (2,811,888) (36,870, 00) (6,277„219) - Debt Issuance - - - - Original Issue Premium Total Other Financing Sources/(Uses) 44,295,732 (35,843,084) (5,980„737) Net Change in Fund Balances 2,368,007 202,373 (620,900) Fund Balances-October 1 14,102,418 18,823,644 (205,464) - Fund Balances-September 30 16,470,425 $ 19,026017 (826,3641 - The notes to the financial statements are an integral part of these statements, E-4 One Cent Infrastructure Infra Sis Srtx Bing Coppitt Nonmajor Total Infrastructure Revenue Bonds Revenue Bonds Wastewater Governmental Governmental Surtax Series 2003 Series 2007 Project Funds Funds $ 15,147,593 $ $ - $ - $ 30,144,034 $ 109,984,484 - _ _ _ 2,885,791 3,312,742 - 16,066,063 53,928,374 - - 8,964,369 16,447„086 - _ _ - 2,670,951 3,056,516 758,239 167„955 756,859 327„666 2,758,540 6,486„067 - - - 2„081„451 1,754,288 4,823,902 15,905,832 167„955 756,859 2„409„117 65,244,036 198,039,171 _ - _ - 5,461,268 31,252,0�64 - - - 20,29 ,204 91,174,376 - 2,313,326 2,765,646 - 5,638,910 6„031,394 - - - - 17,162,52.0 18,1159„261 - 475977 8„943,385 _ - - 1,400,563 4,289,428 - _ - 5,082,533 9„043„145 4,371„798 12,849,919 6,225,470 13,004,408 740,409 37„192,004 _ - - - 4,368,550 4,621,955 4„371,798 12,849,919 6,225,470 13,004,408 62,94 „260 213,472,658 11,534,034 (12,681,964) (5468,611) (10,55, 91) 2,300,776 (15,433,487) 585',761 5,9�20„460 292,053 5,9.47,766 9,206,663 70,384,021 (13,7011,643) - - (11,915,231) (711,576,281) - - 28„908„146 18,410,350 3,096,504 50,415,000 - 1„091,854 - - 1',,091,854 (13,115,882) 5, 20,460 30,2,92,053 24,358,116 387„936 50,314,594 (1, 81,848) (6,761,504) 24,823,442 13,762,825 2,688,712 34,881„107 191,124,483 7,067,325 - - 79,786,491 138,698,897 17,542,635 $_ 305,821 24,823,442 13,762,825 82,475,203 $ 173,,580„004 F-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�, 2008 Amounts reported for governmental activities in the statement of activities are different because: Net change in fund balances - total governmental funds, $ 34,881,107 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 as depreciation expense. This is the amount by which capital outlays of $44,791,659 exceeded depreciation of $8,173,964 in the current period. 36,617,695 Governmental Funds do not report donated capital assets as they do not provide current financial r,esources. Governmental activities report donated assets at fair market value. 367,212 Governmental Funds only report the disposal of assets to the extent proceeds are received from the sale. In the Statement of Activities, transfers of property to other governmental agencies are reported as expenses. (9,459,663) Debt issuance is reported as revenue on the governmental funds as current financial resources are available, but as a long-term liability on the Statement of Net Assets. (51,506,854) Payment of long-term debt is reported as an expenditure on the Governmental Funds as current financial resources, are used, but a reduction of long-term liabilities in the Statement of Net Assets. 1,920,350 The change in compensated absences is reported on the Statement of Activities but is not reported in the governmental funds as current financial resources are not used. (154,659) The change in, OPEB liability is reported on the Statement of Activities but is not reported in, governmental funds as current financial resources are not used. (4,926,676) Governmental funds report the effect of issuance costs, premiums, discounts, and similar items when debt is first issued', whereas, these amounts are deferred and amortized! in the Statement of Activities. In addiiti:on, interest and other accruals not using current financial resources are reported as governmental activities. This amount is the net effect of these transactions. 402,465 Revenues that do not provide current financial resources are not reported on, governmental funds. However, revenues that are learned in the current period are reported in the Statement of Activities. 2,608,239 The net revenues of internal service funds (funds used to charge the costs of certain activities to individual funds) are reported with governmental activities. (405,539) Change in net assets of governmental, activities $ 10,343,677 The notes to the financial statements are an integral part of this statement. E-6 MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL, GENERAL FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes 26,798,898 27,001,090 25,829',722 (1,171,368) Licenses and Permits 350,000 350„000 426,951 76„951' Intergovernmental 5,588,114 5,588,114 6,127,918 539,804 Charges for Services 8,339,493 4,563,31,8 4„027,919 (535,399) Fines and Forfeitures 10,000 10,000 19,408 9,408 Investment Income 4501,000 450,000 846,474 396,474 Miscellaneous 556,,871 1,137„026 915,907 ,119� Total Revenues 42,093,376 39,099„548 38,194,299 (905,249) EXPENDITURES: Current: General Government: Board of County Commissioners 1,765,827 1,719,327 1,661,659 57,668 County Administrator 668,504 850,504 846,089 4,415 Public Works Management 132,415 124,090 122,255 1,835 Community Services Management 274,890 285,890 279,72.8 6,162 County Attorney 1,429,214 1,727„214 11,337„930 389,284 Office of Management & Budget 422„633 382,830 311,162 71,668 Technical Services 1,656„658 1,516„603 1„504,094 12,509 Technology Replacement 220,400 170,400 1168„543 1,857 File Management Services 51,000 51,000 51,000 - Grants Administration 93,250 106„761 106,216 545 Personnel 386,873 354,207 352,063 2,144 Purchasing 210,040 201,455 197,565 3,890 Public Works Faciliities Maintenance 6,692,398 5,812,948 5,592,274 220,674 Value Adjustment Board 25,000 25,000 22,302 2,698 Community Services-Marine Projects 48,690 17,123 17,040 8 Performance Improvement 7,500 - - - Promotionall Advertising 5,000 5,000 2,999 2,001 Tax Increment Payment 22 ,0'00 299,381 299,381 - Cuasi External Services 46,840 75,740 69,770 5„970 Clerk to BOCC-Financial Package 5,000 5,0100 - 5„000 Clerk of Ct Comm & Fees-Noncourt 3,337,707 3,337,707 2,921,322 416„385 Tax Collector 3,773„768 4,200„033 3„9561,797 243,236 Property Appraiser 4,487,767 4,423,022 3,875„208 547,814 Supervisor of Elections 1,437,244 1,537,244 1,479„514 57,730 The notes to the financial statements are an integral part of these statements. (Continiued) E-7 MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED GENERAL FUND FOR THE YEAR ENDED aI PTEMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget. Actual (Negative Insurances-Supervisor of Elections 129,280 102,415 102,415 - Gov't Enterprise Management System 65,000 21,949 21,949 - Total General Government 27,597,898 27,352„843 25,299„275 2,053,568 Public Safety: Hurricane 161,928 144,928 138„876 6,052 Emergency Management 200,274 186,176 185,538 638 Marathon Emer Operations Center 8,051 40,341 39,910 431 Medical Examiner 557,339 657,,339 630,450 26,,889 American Red Cross Lower Keys 28„381 28,381 28,381 - Sheriff Law Enforcement 23,118,287 22,937,333 22„463,355 47 ,978 Sheriff Corrections 16,579,799 16,579,799 16,454,087 125,712 Fire Academy 264,297 178,385 155,107 23,278 Total Public Safety, 40,918,356 40,752,682 40,095,704 656,978 Physical Environment: Extension Service 238„720 188,350 180„647 7,70 Lipper Keys Wild Bird Ctr 11,400 11,400 11,400 - Marathon Wild Bird Ctr 11„400 11„400 11,371 29 Exotic Wild Bird Rescue 11,400 11,40 11„400 - Land Steward 91,407 30,642 30„642 - Total Physical Environment 364, 27 253,192 245„460 7,732 Transportation: County Engineer 47„2012 37,899 31,222 6,677 Economic Environment: Literacy Volunteers of America 5,000 5„000 5,000 - SFETC Liability - 22,989 22,989 - Affordable Housing Initiatives 563,768 299,490 2811,399 18„091 Veteran's Affairs 536,422 5601,785 553,579 7,206 Veteran's Affairs Transportation 141,824 137,324 133„774 3,550 Total Economic Environment 1,247,014 1,025,588 996,741 28,847 Human ;Services: Health Care Respite Act 40„000 40,000 - 40,000 (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, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative)_ Hospice of the Florida Keys 154,206 154,206 154,206 - Public Works Animal Shelter 971,829 945,262 942,246 3,016 Bayshore Manor 753,047 719,627 686,487 33,140 Middle Keys Guidance Clinic 312,370 344,370, 344,370 - Middle Keys Guidance Clinic 48,545 48,545 48,545 - Middle Keys Guidance Clinic 92,235 92,235 92,235 - Middle Keys Guidance Clinic. 390,000 390,000 390,000 - Care Center for Mental Health 330,000 330,000 330,,000 - Monroe Cnty Assoc. for Retarded Citizens 185,000 185,,000 185,000 - Heron/ Peacock 61,493 61,4913 61,493 - Older Americans Volunteer Program 950 950 256 694 Welfare Administration 665,545 557,010 547,511 9,499 Welfare Services 653,450 609,450 246,860 362,59,0 Big Brothers,/Big Sisters 28,381 28,381 20,116 8,265 Florida, Keys Children's Shelter 185,0100 185,000 185,000 - Wesley House 160,828 160,828 160,,828 - Pace 85,144 42,572 42,,572 - MCEF1 Monroe Youth Challenge 23,651 23,651, 23,651 - Helpline 4,733 4,733 4,733 - Dome tic Abuse Shelter 42,572 42,572 42,572 - Florida Keys Outreach Coalition 47,302 47,302 47,302 Samiuel's House 104,065 1014,065 104,065 - Youth Summer Rec 30,,875 30,875 - 30,8,75 DePoo Baker Act 190,000 190,000 - 190,000 Womankind 89,874 89,874 89,764 110 Rural Health Network 342,000 342,000 341,992 8 Rural Health Network STD 70,953 70,953 70,953 - Social Service Transportation 1,161,564 11,066,775 1,051,552 15,223 Higher Love Mission Outreach, 4,730 4,730 4,415 315 Keys Area Interdenominational Resources 4,730 4,730 40730 - FL Keys Healthy Start Coalition 9,460 9,460 9,460 - Just for Kids 61,750 61,750 59,933 1,8117 MCSB Pace - 42,572 42,,572 - Easter Seals Society 15,000 15,000 15,0010 Health Department Lease - 34,145 34,145 (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 GENERAL FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative)_ Aids Help 34,058 34,058 34,058 Center for Independent Living 4,730 4,730 4,730 - Good Health Clinic 46,356 46,356 44,667 1,689 FL Keys Area Hlth Eduic Ctr 37,842 37,842 37,842 - Total Human Services 7,444,268 7,203,102 6,,505,861 697,241 Culture andl Recreation: Heart of the Keys Recreation 38,0'00 38,000 38,000 - Big Pine Athletic Association 43,389 43,389 43,389 - Boys and Girls Club 56,763 56,763 56,754 9 Upper Keys YMCA 14,250 14,250 14,250 - Higgs Beach Maintenance 33,819 33,819 32,252 1,567 Lower Keys AARP 4,750 4,750, 3,153 1,597 Middle Keys AARP 4,750 4,750, 4,50'2 248 Big Pine Key AARP 4,750 4,750 4,551 199 Upper Keys AARP 4,750 4,750 - 4,750 Fine Arts Council 71,250 71,250 71,250 - Historic Keys Foundation 28,500 28,500 28,500 - Library Admin Support 547,,623 53,2,,192 520,283 11,909 Library Key West 761,409 674,357 666,390 7,9167 Library Key West Donations - 137,108 89,145 47,963 Library Marathon 370,606 341,13,4 333,231 7',903 Library Marathon Donations - 11,738 1,404 10,334 Library Islamorada 300,868 247,368 239,618 7,750 Library Islamorada Donations - 609 115 494 Library Key Largo 408,098 377,510 373,916 3,594 Library Key Largo Donations - 4,185 - 4,185 Library Big Pine Key 277,147 263,147 262,430, 717 Library Big Pine Key Donations - 8,798 4,230 4,568 Total Culture and Recreation 2,970,72�2 2,903,117 2,787,363 11115,754 Court Related: Law Library 84,199 84,199 81,404 2,795 Guardlian Ad Litem 196,9139 191,409 187,432 3,977 State Attorney 341,108 340,318 267,316 73,002 Public Defender 489,737 486,577 480,672 5,905 (Continued) 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 - CONTINUED GENERALFUND FOR THE YEAR ENDED SEP'TEMBER 30, 2008 Variance with Final) Budget Original Final Positive Budget Budget Actual (Negative) Court Administration 6,710 6,710 5,798 912 Court Admin-Judicial Support 145,015 140,275, 121,556 18„719 Court Adlmin-Circuit Ct Reporter Svcs 2,675 2,675 2,136 539 Court Adrnun-Circuit Drug Court 443,739 438,209 429,106 9„103 Court A min-Pretrial Release 579,805 565,585 551,491 14„094 Court Admin-Family Ct Case Mgmt 123,1145 113,665 97,805 15,860 Ct. Admin-Other Circuit Court Juvenile 73,028 71,448 64,707 6„741 Ct. Adrnin-Prethal Svcs [drug Diversion 149,891 144,361 136,928 7„433 Court Admin-Information Systems 220,010 216,060 198,251 17„809 Sheriff Court Security 1, 4,901 1,384,901 1,285„171 99,730 Total Court Related 4,240,902 4,186,392 3,909„773 276,619 Debt Service: Principal 198,001 205,601 207,082 (1,481) Interest 22„014 114,414 14,043 371, Other Debt Service Costs - 30,000 29,500 500 Total Debt Service 220,015 250,015 250,625 Total Expenditures 8 ,050,704 83,964,830 80,122,024 3,842,806 Excess/Deficiency of Revenues Over/(Under) Expenditures (42,957,328) (44,865„282) (11,927,725) 2,937,557 Other Financing Sources/(Uses): Reserve for Contingencies (215,000) (2,145,639) - 2,145,639 Transfers from Other Funds 9,364,193 9,754,448 47,107,620 37,33,172 Transfers to Other Funds 12,463,252 (12,431„757) ((2,811,888) 9,619,869 Total Other Financing Sources/(Uses) (3,314,0591, 4,822,948 44„295„732 49,118,680 Net Change in Fund Balances (46,271,387) (49,688,230) 2,368,007 52,056,237 Fund Balances, October 1 44,8 4,143 48,150,986 14,102,418 (34,048,568) Fund Balances, :September 30 (1,437,244) (1, 37,244) $ 16„470,425 18,007,669 The notes to the financial statements are an integral part of these statements. E-11 IId1G1N'ROE 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, 2008 Variance with Find Budget Original Find Positive Budget Budget Actual (Negative) REVENUES:. Taxes 40,850,000 40,850,000 $ 38,863,135 $ (1,986,865) Intergovernmental 45,000 45,000 35,62.3 (9,377) Charges for Services 1,667„601 1,667,601 3,279,864 1,61 ,26 Fines and Forfeitures 320,000 320,000 366,157 46,157 Investment Income 80,000 850,000 815,630 (34,370) Miscellaneous 2,000 109,717 31,557 78,160 Total Revenues 43,734„601 43,842,318 43,391,966 40,35 EXPENDITURES: Current: General Government: Tax Increment Payment 600,000 491,521 491,521 - Public Safety: Sheriff Lave Enforcement 3,698,519 2,579,018 2,150,433 428,585 Sheriff Corrections 2,420,858 1,946,051 1,570,308 375,743 Sheriff Court Security 253,026 2.48,479 203,964 44,515 Band Refunds 30,000 14,000 - 14,000 LEER Funds 75,000 75,000 75,000 - Public Works Correction Facilities 1,854,009 1,661,783 1,491„838 169,945 Medical Air Transport 2,185,676 948,720 876,424 72,296 Interagency Communications 499,897 58,004 44,344 13„660 ,Juvenile Detention Cost Share 568,075 398,075 391,838 6„237 Total Public Safety 11,58 ,060 7,929,130 6,804,149 1,124,981 Court Related: Sheriff Extradition 55„000 55,000 50,839 4,161 Total Expenditures 12,240„060 8,475,651 7,346,509 1„129,142 Excess/Deficiency of Revenues Over/(Under) Expenditures 31,494„541 35,366,667 36,045,457 678„790 Other Financing Sources/(Uses): Reserve for Contingencies (12,083,475) (13,651,024) - 13,651,024 Transfers from (Other Funds 750,000 750,000 1,027,216 277,216 The mates to the financial statements are an integral part of these statements. (Continued) E-12 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 SEPTIEMBER 30, 2008 Variance with Find Budget Original Find Positive Budget Budget. Actual (Negative) Transfers to Other Funds (35,068,444) (37,373,021) (36,870,3010) 502,721 Total Other Financing Sources/(Uses) (46,401„919) (50,274,045) (35,843,084) 14,430,961 Net Change in Fund Balances (14,907„378), (14,9017,378) 202„373 15,109,751 Fund Balances, October 1 14,907,378 14,907,378 18,823,644 3,916,266 Fund Balances, September 30 - - $ 19,026,017 19,026,017 The notes to the financial statements are an integral) part of these statements, E-13 It ONROE 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, 2008 Variance With Final Budget Original Final Positive Budget Budget Actual (Negative) Revenues: Intergovernmental 36,173,830 9,361,840 (26,811,990) Charges for Services - 197,089 174,934 (22,155) Investment Income 1,000 3,517 54,704 51,187 Miscellaneous - 79,533 40,699 29„834� Total Revenues 1,00O 36,444,969 9,632,177 26,812,792) Expenditures: Current: General Government: Grant Latch 997 997 _ 997 Mthn Garage Door Retrofit - 22„880 - 22,886 Total General Government 997 23,877 23,877 Public Safety: Emergency Management Base Grant 2 145,374 145,374 - Radiological Emerg Preparedness 1 148,,627 131,021 17,666 EMS Award Grant - 96,821 40,006 56,815 MCDC Overhead Door Retrofit - 18,982 - 18,982 Homeland Security Grant _ 1141,918 8,930 132,988 ODP UA 1016 Grant - 1116,289 1011,058 15,231. FEMA-Hurricane Dennis - 1,085,206 539 1„084,667 FEMA-Hurricane Katrina - 887,928 925 887,003 FEMA-Hurricane Rita - 704,808 1,195 703,703 FEMA-Hurricanie Wilma 14,844,554 749,872 14,994,682 FEMA-Tropical Storm Fay - 1,327,294 19,0,873 1,136,421 FEMA-Hurricane Ike - 804,334 271,466 532,868 Total Public Safety 3 20,322,135 1,641,169 18,680,966 Physical Environment: Stormwvater Master Plan - 5,455 4„959 505 FDGT Stormwvater Improve Project - 1,999,758 - 1,999,758 Homeowners Wastewater Assistance - 27,9161 27,961 - Exotic Plant Control 'Svc - 271,574 173,949 97,625 Clean Vessel Act LE 507 - 232,881 - 232,881 Clean Vessel) Act LE 655 - 57,000 - 57,069 Total Physical Environment - 2,594,629 206,860 2,387,769 The notes to the financial statements are an integral part of these statements. (Continued) E-14 M PJIROE, COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED GOVERNMENTAL GRANTS SPECIAL REVENUE FUND FOR THE YEAR ENDED S'EPTEMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Transportation: Transportation Study Plan Update - 71,070 30,962 40,108 Safety Improvement Heritage T'railll - 23,303 - 23,303 Transp Planning Frog 07-09 - 411,706 102,436 309,270 Bicycle/Pedestrian Plan 2 - 164,138 w 164,138 Overseas (Heritage Trail - 342,040 - 34 ,0'40' Pigeon Key Ferry Service - 750,000 227,864 522,136 Load's Disaster Relief Program - 233,971 - 233,9171 Total Transportation - 1,996,228 361,262 1,634,966 Economic Environment: Affordable Housing Coordinator - 45,081 - 45,081 Human Services: Residential Substance Abuse Treatment - 133,334 66,667 66,667 Title III-B 2007 _ 27,345 25,065 2„280 Title 111-8 2008 - 121,743 70,758 50,985 Title III-Cl 2007. - 60,309 55„054 5,255 Title III-Cl 2008 - 182,319 130,687 51,632 Title 111-C2 2007 - 88,967 81,602 7„365 Title III-C2 2008 - 230,931 187,897 43,034 Title Illl-E 2008 - 18,916 18,816 100 Title III-E 2007 - 60,117 49,217 10,900 Alzheimer°s Disease Initiative 061017 - 67,901 67,901 - Alzheimer`s Disease Initiative 07108 - 65,888 21,497 44,391 Community Care for Disabled Adults 06107 - 121,515 83.,504 38,011 Community Care for the Elderly 06107 _ 652,423 652,423 - Community Care for the Elderly 07/08 - 482,141 175,049 307„092 Herne Care for the Elderly 06107 - 112„715 12„71 - Horne Care for the Elderly 07/08 - 12,750 2,430 10,32.0 Buys and Girls Club - 35,000 31,625 3,375 MC Education Foundation - 50„000 50,000 - Low Income Name Energy Program 2007 - 35,479 33,987 1,492 Low Income Nome Energy Prog 2008-09 - 101,299 88,907 12,392 Care Center Mental Health - 55„746 55,746 - Total Human Services - 2,616,838 1,961,547 655„291 (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, 2808 Variance with Final Budget Original Final Positive Budget Budget. Actual (Negative) Culture and Recreation: State Aid to Libraries - 106,276 51,862 54,414 Historic Buildings Survey 50,000 49,640 360 Total Culture and Recreation - 156,276 101,502 54,774 Total Expenditures 1,06 27,755,064 4,272,340 23,482,724 Excess/Deficiency of Revenues Over/(Under) Expenditures - 8,689,905 5,359,837 (3,336„068 Other Financing Saurcest(Uses): Transfers from Other Funds - 3,116,636 296,482 (2,814,154) Transfers to Other Funds (11,800,541) (6,277,219) 5,523,322 Total Other Financing Sources/(Uses) - (8,689,905) (5,986,737) 2,769,168 Net Change in Fund Balances - - (620,900) (620,900) Fund Balances, October 1 - (205,46 ) (205,464) Fuind Balances, September 30 - - (826,364) (826,364) The notes to the financial statements are an integral part of these statements. E-16 MIONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUNGI BALANCES BUDGET AND ACTUAL SHERIFF'S HID'TA GRANT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMIBER 30, 2008 Variance with Find Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: ilntergcvernmental $ 19,561,287 $ 22,386,287 $ 22,336,930 $ (49,357) EXPENDITURES: Current: Public Safety 19,537,113 22,362,113 22,334,150 27,963 D1ebt Service 24,174 24,174 2,780 21,394 Total Expenditures 19,561,287 22,386,287 22,336,930 49,,357 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-17 MONROE COUNTY, FLORIDA STATEMENT OF NET ASSETS PROPRIETARY FUNDS SEPTEMBER 30, 2008 Business-type Activities Enterprise Funds Major Funds Municipal Card Key Svc District Sound West Waste Bridge Airport ASSETS Current Assets: Cash and Cash Equivalents 56,108 4,52.0,351 243,073 Investments 7,461,361 1,982,380 1,002,830 Restricted Cash and Cash Equivalents - - 2,779,966 Restricted Investments - - 6,793,788 Accounts Receivable, Net 374,968 - 285,476 Due from tither Funds 20,032 - 15,173 Due from Other Governmental Units 31,1184 - 5,376,604 Interest Receivable 19,119 220, 95 8,052 Total Current Assets 7„962,772 6,723,72.6 16,504,962 (Noncurrent Assets: Restricted Cash and Cash, Equivalents 8,259 - 3,31 ,111 Restricted Investments 1,852,168 - 7,377,124 Restricted Interest Receivable - - 50,451 Deferred Charges, Net 10,479 337,662 Land and Other Nond'epreciable assets 3,629,620 5,217,070 36,994,896 Capital Assets, Net of Accum. Depreciation 334,518 4,766,336 15,608,775 Total Noncurrent Assets 5,85„044 9,983,406 63,681,059 Total Assets 13,797,816 16,707,132 80„186,021 LIABILITIES Current Liabilities: Accounts Payable 625,336 17,914 112„321 Retainage Payable - - 8,793 Accrued Wages and Benefits Payable 57,104 35,351 74,211 Claims and ~Judgements Payable 129,632 - - Due to Other Funds - 909, 90„532 Due to tither Governmental Units 44,066 - 11,483 Accrued Interest Payable 34,754 - - Accrued Comp. Absences Payable 34,881 29,379 58„982 Capital Leases Payable 50,000 - - Other Current Liabilities - - - Deposits in Escrow 165,538 - 8,000 Deferred Revenue - - 78,671 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 $ 189,101 6 5,008,633 11,743,712 1,527,387 11,973„958 17,634,772 - 2,779,96'6 - - 6,793,788 - 36,544 696,988 23,955 - 35,205 65,789 336,215 5,744„003 128,626 2,997 251,163 464,719 2,0�92,244 33,283,704 30,0�01,573 - 3,320,410 - 9,229,292 - - 50,451 - 348',141 - 1,239,555 47,081,141 54,000 10,706,659 31,416,288 1,178,793 11,946,214 91,445,723 1,232,793 14,038,458 124,729,427 31,234,366 275,869 1,031,440 489,249 151,338 160,1'31 - 14,614 181,280 60,159 129,632 6,530,535 1,441 1,228 3,895 59,444 29,784 - 34,754 - 8„73'3 131,975 24,831 - 50,000 - - - 2,984 6,921 180,459 - - 78„671 - -19 MONROE COUNTY, FLORIDA STATEMENT OF NET ASSETS - CONTINUED PROPRIETARY FUNDS SEPTEMBER 30, 2008 Business-type Activities Enterprise F►ands Major Funds Municipal Card Key Svc District Sound West Waste Bridge Airport Current Liabilities Payable from Restricted Assets: Accounts Payable - 3,261,502 Retainage Payable - 1,6,53,019 Accrued Interest Payable - - 84,010 Notes Payable, Current 463,278 - - Revenue Bonds Payable, Current - - 735,000 Total Current Liabilities 1,604,589 83,55,3 6,176,524 Noncurrent Liabilities: Payable from restricted assets-Landfill closure/post closure costs 400,433 - - Accrued Comp. Absences Payable 140,592 69,689 112,936 Claims & Judgements Payable - - 303,737 Capital Leases Payable 717,270 - - Notes Payable 1,512,156 - - Revenue Bonds Payable - - 24,365,000 OPEB Liability 126,000 74,000 115,000 Total Noncurrent Liabilities 2,896,451 143,689, 24,896,673 Total Liabilities 4,501,040 227,242 31,073,197 NET ASSETS Invested in Capital Assets, Net of Related Debt 1,221,434 9,983,406 37,077,425 Restricted 1,459,994 - 5,690,744 Unrestricted 6,615,348 6,496,484 6,344,655_ Total Net Assets $ 9,296,,776 $ 16,479,890 $ 49,112,824 Adjustment to reflect the consolidation of internal service activities related to enterprise funds 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 - 3,261,502 - 1,653,019 - - 84,010 463,278 - 735,000 - 461,370 8,326,036 7,1138,770 - 400,433 - 38,677 361,894 106,683 - 303,737 - 717,270 - - 1,512,156 - - 24,365,000 33,000 348,000 1 4,0�00 71,677 28,008,490 230,683 533,047 36,334,526 7,369,453 11,946,214 60,228,479 1,232,793 - 7,150,738 - 1,559,197 21,015,684 22,632,120 113„505„411 88,394,901 23,864,913 (1,021,631) 87,373,270 E-21 MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2008 Business-type Activities Enterprise Funds Major Funds, Municipal Card Key Svc District Sound West Waste Bridge —Airport Operating Revenues: Franchise Fees $ 267,249 $ - $ Charges for Services 14,235,756 1,45,8,415 3,631,602 Fines and Forfeitures - - 1,039 Miscellaneous 24,012 50 9,380 Total Operating Revenues 14,527,017 1,458,465 3,642,021 Operating Expenses: Personnel! Services 1,386,899 875,826 1,705,345 Operations 14,121,692 113,433 4,031,604 Depreciation and Amortization 53,812 324,628 931,454 Asserted and Paid Claims - - - Total Operating Expenses 15,562,403 1,313,887 6,668,403 Operating lncome/(Loss) (1,035,386) 144,578 (3,0126,382) Nonoperating Revenuesl(Expenses): Operating Grants 277,316 - 5,450,943 Grant and Donations - Other Sources 50,000 16,430 Other Income - PFC - - 851,055 Investment Income 500,496 251,888 436,300 Insurance Recoveries - - - Gain (Loss) on Disposition of Assets (879) (13,115) Interest Expenses and, Fiscal Charges (90,482) - (314,490) Total Non,-Operatinig Revenues/(Expenses) 737,3301 251,009 6,427,1123 Income/(Loss) Before Contributions and Transfers (298,056) 395,,587 3,400,741 Transfers from Other Funds 4,022 2,583,635 Transfers to Other Funds (418,537) (53,567) (807) Capital Grants and Contributions - 6,514,721 Change in Net Assets (712,571), 342,020 1,2,498,290 Total Net Assets-October 1 10,009,347 16,137,870 36,614,534 Total Net Assets-September 30 $ 9�,296,776 $ 16,479,890 $ 49,112,824 Adjustment to reflect the consolidation of internal service activities related to, enterprise funds, Change in Net Assets o,f Business-type Activities The notes to the financial statements are an integral part of these statements. E-22 Governmental Majior Funds Activities Internal Marathon Service Airport Total Funds v 267,249 - 709,805 20,035,578 19,745,917 - 1,039 - 26,509 59,951 19,326 736,314 20„363,817 19,7 5,24 383,660 4,351,730 1,802,571 1,665,049 19,931,778 4,951 r448 519,122 1,829,016 74„569 - - 14„549,752 2,567,831 26,112,524 211,378,340 1„831517) 5,748,707 ( ,613,097) 231485 5,751,744 - 116,430 82,860 - - 851,055 - 18,165 11,206,849 1,375,862 - 681,501 (13,994) (4,732) - (404,972) - 58,080 7,473,542 2„052,631 1,773,437) 1,724,835 439,534 2,589,198 5,176,85 (108,480) (581,391) (3,403,204) 22,781 6,537,502 - 730,062 12,857,8011 (2,96'3,670) 12„775,349 26,828,583 13,505,411 23,864,913 2 558,13 10,299,671 -23 MONROE COUNTY, FLORIDA STATEMENT OF CASH FLOWS PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2008 Business-type Activities Enterprise Funds Major Funds, Municipal Card Key Svc, District Sound West Waste Bridge— Airport Operating Activities: Cash received for services $ 14,548,994 $ 1,458,415 3,795,254 Cash rec"vd from other funds for goods and svcs 21,474 - - Cash received from insurance recoveries - - Cash received from others-PFC 851,055 Cash payments to suppliers for goods and svcs (14,378,236) (146,351) (4,381,302) Cash payments for employee services (878,968) (538,651) (1,081,027) Cash payments to other funds (484,86,5) (198,871) (240,439) Cash payments for claims - - - Other operating revenue 24,0112 50 9,380 Net Cash Provided by/(Uls,ed in) Operating Activities (1,147,589) 574,592 (1,047,079) Nioncapital Financing Activities: Operating grants received 277,316 - 5,653,895 Transfers from other funds, 4,022 83,635 Transfers to other funds (418,537) (53,626) ........... ...(807) Net Cash Provided/(Used) by Noncapital Financing Activities (137,199) (5,3,626) 5,736,723 Capital and Related Financing Activities: Proceeds from capital grants 1,642,510 Acquisition of capital assets (2,640,237) (20,815,379) Principal paid on capital debt (447,310) (5,355,000) Interest and fiscal charges paid on capital debt (98,466) (300,918) Transfers from other funds restricted for capital purposes 2,500,000 Net Cash Provided/(Used1) by Capital and Related Financing Activities (545,776), (2,640,237) (22,328,787) Investing: Activities: Investment income 482,290 253,331 432,814 Proceeds from sales and maturities of investments 21,492,429 4,959,289 58,749,723 Purchase of iinvestment securities (30,805,958) (6,941,669) (73,923,465)" Net Cash Provided/(Used) in Investing Activities (8,831,239) (1,729,049) (14,740,928) Net Increase/(Decrease) in Cash and Cash Equivalents (10,661,803) (3,848,320) (32,380,071) Cash and Cash Equiivalents: October 1 10,726,170 8,368,671 38,7 15,261 September 30 $ 64,367 $ 4,520,351 $ 6,335,190 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 740,165 $ 20,542,828 5,606,083 - 21,474 14,244,896 - - 2,772,925 - 851,05 - (1,772,858) (20,678,747) (5,045,066) (255,587) (2,754,233) (1,242,853) (105,225) (1,029,400) (300,163) - - (15,002,324) 26,509 59,951 17,744 1,366,996� �2,987,072) 1,051,242 243,674 6,174,885 - 2,588,391 2,676,048 - (113,005) (585„975) (3,403,204) 2,719,060 8,264,958 3,403,204) 11,960 1,654,470 - (59,633) (23,515,249) (31,921) - (5,802,310) - - (399,384) - 807 2, 00,807 - (46,866) 25,561,666 (31,921) 15,168 1„183,603 1,139,189 3„821,038 89,022,479 44,116,635 (5,348,425) (117,019,517) (61,751,407) (1,512,219) (26,813,435) (16,495,58 ) (207,021) (47,097,215) (18,879,466) 396,122 58,206,224 30,623,17`8 189,101 11,109,009 11,743,712 (Continued) E-25 MONROE COUNTY, FLORIDA STATEMENT OF CASH FLOWS-CONTINUED PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2008 Business-type Activities Enterprise Funds Major Funds Municipal Card Key Svc District Sound West Waste Bridge— , Airport Reconciliation of operating income/(loss) to, net cash provided by/(used in) operating activities: Operating income/(loss) $ (1,,035,386) $ 144,578 $ (3,026,382) Adjustments to reconcile operating income/(loss) to net cash provided by/(used in) operating! activities: Depreciation and Amortization 53,812 324,628 931,454 Nonoperating Income-PFC - - 851,055 Nonoperating Incomie,-Insurance Recoveries - - - Change in Assets ands Liabilities: Increase/(Decrease) in Accounts receivable 29,023 - 103,710 Increase/(Decrease) in Due from other funds 21�474 - 4,525 Increase/(Decrease) in Due from other gov't units (20,182) - - Increase/(Decrease) in Due fm constitutional ofcrs (152) - 58,903 Increase/(Decrease) in Accounts payable (465,224) - 10,481 Increase/(Decrease) in Accrued wages/benefits 17,907 2,669 16,9111 Increase/(Decrease) in Claims/judgments payable - - - I ncrease/(Decrease) in Due to other funds - increase/(Decrease) in Due to other gov"t units 43,193 - (18,,943) lincrease/(Decrease) in Due to constitutional ofcrs - (662) (152,775) Increase/(Decrease) in Comp, absences payable 34,880 29,379 58,982 Increase/(Decrease) in Other current liabilities - - - Increase/(Decrease) in Deposits in escrow 37,300 Increase/(Decrease) in Landfill Closure Costs 9,766 - Increase/(Decrease) in OPEB liability 126,000 74,000 115,000 Total adjustments (112,203) 430,014 1,979,303 Net Cash Provided by/(Used in) Operating, Activities $ (1,147,5�9 $ 574,592 $ (1,047,079) Noncash investing,, capital, and financing activities: Contribution of capital assets from gov't $ $ - $ 16,430 Gain (Loss) on, disposition of assets C8 7-9 $ (13,=5 Forgiveness of capital lease amount 56,U-0-0 - $ Cash: Reconciliation: Unrestricted $ 56,108 $ 4,520,351 $ 243,073 Restricted 8,259 - 6,092,117 Total $ 614,367 $ 4,5201,3511 $ 6,335,,190 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 (1,831,517) (5,748,707) $ (1,613,297 510,122 1,829,016 74, 69 - 851,055 - - 681,501 2,269 135,002 2,089,842 - 25,999 - 28,091 7,909 20,696 - 58,751 83,181 (116,399) (571,142) 41,254 4,496 41,983 (1,016) - - (452,572) - - 26 3,184 27,434 2,277 (17,975) (171,412) 1,15 8,733 131,974 (3,553) - - 2,949 - 37,300 - - 9,766 - 33,000 348,000 124,000 464,,521 2,761,635 2,664,339 $ (1,366,996� $ (2,987,072) $ 1,051,242. $ 16,430 $ 32,860 $ - - ,994 - (4,732) - $ 50,000 $ - $ 189,101 $ 5,008,633 $ 11,743,712 - 6,100,376 - $ 189,101 $ 11,109,0,09 11,743,712. E-27 MONROE COUNTY, FLORIDA STATEMENT OF FIDUCIARY NET ASSETS FIDUCIARY FUNDS SEPTEMBER 30, 2008 Fire and EMS Pension Agency Trust Fund Funds ASSETS Cash and Cash Equivalents 131,982 5,582,910 Investments 674,552 - Accounts Receivable 2,211 69,536 Total Assets 808,745 5,652,4416 LIABILITIES Due to Others - 2,262,341 Due to Other governmental Units - 3,390,105 Total Liabilities - 5,.652,44E NET ASSETS Held in Trust for Pension Benefits and Other Purposes 808,745 The notes to the financial statements are an integral part of these statements. E-28 MONROE COUNTY, FLORIDA STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS FIDUCIARY FUNDS FORTHE YEAR ENDED SEPTEMBER 30, 2008 Fire and EMS Pension Trust Fund Additiow Employer Contributions $ 28,477 Investment Income 26,426 Total Additions 54,903 Deductions: Administration (4,933) Pension Benefits (16,650) Change in Net Assets 33,320 Total Net Assets-October 1 775,425 Total Net Assets-September 30 $ 808,745 The notes to the financial statements are an integral part of these statements. E-29 NOTES TO FINANCIAL STATEMENTS MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following summary of the more significant accounting policies of the Monroe, County, Florida (County) is presented to assist the reader in interpreting these financial statements and shouild be viewed as, an integral part of this report, Reporting Entity: Entity status for financial reporting purposes is governed by Statement No. 14 of the Governmental Accounting Standards Board (GASB) and Rules of the Auditor Generall, 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 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. Operational or financial responsibility is considered to have been met if the primary government appoints a voting majority of the component unit's, governing board and it is able to impose its will on the unit or there is potential for the unit to provide specific financial benefits or impose specific financial nancial burdens on the primary government. All component units of the County have a September 30 fiscal year end. The County is a Non-Chiarter County established as provided by Article Vill Section 1 of the Florida Constitution and Section 125 of the Florida Statutes, The Board of County Commissioners, 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 Circuit Court and the Tax Collector, The County Administrator also serves as the principal executive officer. In addition, certain designated governmental functions are performed by constitutional officers who are elected at-large. The constitutional officers are the Clerk of the Circuit Courts, 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 of Circuit Court, the Monroe County, Finance Department maintains the accounting system for the Board's operations, but excludes those of the Property Appraiser, Sheriff, Tax Collector, Clerk of the Circuit Court and Supervisor of Elections, each of which maintains its own accounting system. Services provided by the County and accounted for within these financial statements include police services for unincorporated areas; health and social: services; emergency medical services-, cultural and recreational programs; solid waste services and other governmental services. Blended component units are legally separate entities that are in substance part of the Coun,ty:'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 units are merged in with similar transactions of the County as part of the primary government. The blended component units of the County are as follows: Monroe County, Florida Comprehensive Plan Land Authority (MCLA) - The MCLA was created by Monroe County, Florida Ordinance 031-19,86 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 F-1 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) created by it. The Monroe County Board of County Commissioners serves as the governing board and is able to impose its will. Therefore, the MCLA, for financial reporting purposes, is considered a blended component unit of Monroe County, Florida and is presented as a special revenue fund of the County. Complete financial statements for MCLA can be obtained from MCLA's administrative office at 1200 Truman Avenue, Ste, 2107, Key West, Florida 33040. Monroe County Industrial Development Authority (MCIDA) - The MCIDA was created by Monroe County, Florida Resolution pursuant to Florida Statute 159. The MCIDA serves to assist in financing and refinancing capital projects, which, will foster economic development in the County. The Monroe County Board of County Commissioners serves as the governing board and is able to impose its will. Therefore, the MCIDA for financial reporting purposes, is considered a blended component unit of Monroe County, Florida. The MCIDA is not legally required to adopt a budget; however, the County, must authorize the issuance of bonded debt. Neither the MCIDA nor the County has any legal obligation, for repayment of the revenue bonds of the MICIDA. As, an issuer of "conduit" debt obligations, the MCIDA has no assets or liabilities. Discrete ly-presented component units are legally separate entities, which do not meet the criteria for blending. The Monroe County Housing Finance Authority (Authority) qualifies as a discretely presented component unit of the County and is reported in a separate column to emphasize it is legally separate from the County, Following is a description of the Authority: Monroe County Housing Finance Authority (Authority) - The legal authority by, which the Authority, the discretely-presented component unit, was created is Section 159,604 of the Florida Statutes and Monroe County, Florida Ordinance 1019-19791. This Authority serves to finance dweliling accommodations for low, moderate, and middlle income persons in Monroe County. Its five- member board is appointed by the Board of County Commissioners. There is, no budget approval required by the County, although there is an approval requirement for any bonded debt issuance. The County has no obligation to pay the outstanding debt of the Authority; however, it does have the power to remove an Authority board member without cause, Dissolution: On December 19, 2007 Ordinance No, 046-2007 was adopted by the Board of County Commissioners of Monroe County, Florida effectively dissolving the Monroe County Housing Finance Authority, The Board of County Commissioners determined there was no more current use for the services of MCHFA and abolished them and its Board. All bank activities ceased and the net assets decreased by $48,299 as of June 30, 2008. This component unit is considered immaterial to the County as a whole and will not be discretely presented in;, the basic financial statements of the Monroe County, Florida Comprehensive Annual Financial Report, Complete financial statements for MCH'FA can be obtained from MCHFA's administrative office at 1400 Kennedy Drive, Key West, Florida 33040. Basis of Presentation: Government-wide Financial Statements, The statement of net assets and the statement of activities report information about the nonfiducia,ry activities of the primary government and it's discretely presented component unit. 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 F-2 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) through charges for services to external parties. As part of the consolidation process to avoid distorting financial results, interfund activities such as municipal and unincorporated service district's policing, 911, and interagency communications are eliminated. However, interfund security services provided by the Sheriff and used by the airports, are not eliminated. The amounts reported as internal balances represent the residual amounts due between governmental and business-type activities. 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. 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. Alll 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 ands gives up essentially equal values. Nonoperatiing 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 that are not required either legally or by accounting principles generally accepted in the United States of America to be accounted for in other funds are accounted for in the General Fund, Fine & Forfeiture Special Revenue Fund - The Fine and Forfeiture Fund is used to account for revenues received from fines and forfeitures imposed from the, commission of statutory offenses, ad valorem taxes that are transferred to the Sheriff and to account for operations of the County's court support system. Governmental Grants Sioeci�al Revenue Fund - The Governmental Grant Fund is used to account for operating revenues and expenditures for all governmental activity of federal and state grants, Sheriff HIDTA Grants Special Revenue Fund - The Sheriff's HIDTA Grants Fund is used to account for all revenues and expenditures for the ONDCP Programs, 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. F-3 IM ONIROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Coantinued) Infrastructure Sales Surtax Revenue Bonds., Series 2003 Capital Pro'ect Fund — The Infrastructure Sales Surtax Revenue Bonds, Series 2003 Capital Project Fund is used to account for the proceeds of this bond issue. Infrastructure Sales Surtax Revenue Bonds Series 2007 Capital Project Fund — The Infrastructure Sales Surtax Revenue Bonds, Series 2007 Capital Project Fund is used to account for the proceeds of this band issue. Big Coppitt Wastewater Ca ital Project Fund — The Big Coppitt Wastewater Capital Project Fund is used to account for the construction of the Big Coppitt wastewater project. The following are reported as major enterprise funds: Munici al '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 y The Card Sound Bridge Fund is used to account for the operations of Monroe County's Card Sound l Toll Bridge, Key 'rest Airport - The Key West airport Fund is used to account for the operations of Monroe County's Key West International Airport. Marathon Air ort _ The Marathon Airport Fund is used to account for the operations of Monroe County's Marathon Airport. The County also reports the following fund types. Internal Service Funds - Internal service funds are used to account for the financing of worker's compensation insurance, health insurance, general liability insurance and fleet maintenance services provided by one department to other departments of the County or to other governmental units on a cost reimbursement basis. Pension Trust Fund - The pension trust fund is used to account for assets held by the County in a trustee capacity for a volunteer firefighters and emergency services length of service award plan. Agency Funds — These funds account for assets held on behalf of third parties and do net involve the measurement of operating results,. Examples include taxes„ fees, and fines collected on behalf of other governments. Measurement Focus and Basis of Accounting: G very meat-wide, Proprietary, and Fiduciary Fund Financial Statement, - The government-wide, proprietary fund„ and pension trust fund financial statements use a flow of economic resources measurement focus and the accrual basis of accounting,. As previously stated, eliminations have been made to minimize the double counting of internal activities. Revenues and expenses that involve parties external to the primary government and F- MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30�, 2008 NOTE, 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (C�ontinued) interfund services provided and used are not eliminated in the process of consolidation. The agency funds have no measurement focus. Revenues are recognized when, earned and expenses are recognized when inicurred, regardless of when, the related cash flows take place. 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, 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. Proprietary funds distinguish operating revenues and expenses from nionoperating 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 nonoperatinig revenues and expenses. G,ASB Statement No, 20 Election - Pursuant to the election option made available by GASB Statement No, 20, pronouncements of the Financial Accounting Standards Board (FASB) issued after November 30,1989 are not appliiedl in the preparation of the County's enterprise fund' financial statements. Governmental Fund Financial Statements - Governmental fund financial statements are 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 funds for payments to be made early in the following year. In addition, expenditures related to compensated absences are recorded only when leave has been taken. Revenues of the County, which are susceptible to accrual under the modified accrual basis of accounting, include property taxes, gas taxes, interest revenue, and charges for services. In applying the susceptibility-to-accrual concept to intergovernmental revenues, the legal and contractual requirements of the numerous individual programs are used as guidance. There are, however, essentially two types of these revenues. In one, monies miust 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, F-5 MONROE COUNTY, FLORIDA. Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Under the terms of the grant agreements, the County fundscertain programs by a combination of specific cost-reiimbursement grants, categorical block grants, and general revenues. Thus when program expenses are incurred, there are both restricted and unrestriicted net assets available to, finaince the program, It is the Couinty's policy to first apply coast-reimbursement grant resources to such programs, followed by categorical block grants, and then by general revenues, Budgets and Bud eta[ Data - The following are the statutory procedures followed) by the Board of County Commissioners in establishing the budget for Monroe County.. 1) On or before June 1 of each year the Sheriff, the Clerk of the Circuit Court, the Tax Collector, and the Supervisor of Elections shall each submit to the Board a tentative budget for their respective offices for the ensuing fiscal year. 2) 'Within fifteen days after certification of the act valorem, tax roll) by the Property Appraiser, the County Budget Officer submits to the Board a proposed budget for the fiscal year commencing the following October 1. The budget includes proposed expenditures and the means of financing them 3) By Board resolution, a, tentative budgiet is submitted to the public, Public hearings are held to obtain taxpayer comments, 4) Fifteen days after adoption of the tentative budget, a finial budget is submitted for review and adoption at a final public hearing,. b) Prior to, or oni September 39, the Board's budget is legally enacted through passage of a resolution. Accordingly all fund types have an adopted budget as required by Florida Statute 129,03 All funds have legally adopted) budgets, except for the Supervisor of Election's Voter Education and Equipment Special Revenue Fund. 8) During the year, the Office of Management and Budget acts on intradepartmenital budget changes that do, not alter the total revenue or, expenditures budgeted to a cost center. A cost center represents a particular area of Board operations or a department. All other budget changes (whether they are transfers between cost centers or alterations of total revenues and expenditures in a fund) are approved by the Board. Supplemental appropriations were necessary and the budgetary data presented herein was amended by the Board during the year. 7) Florida Statute 129„ Section 7, as amended; in 1111978, 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 deviice during the year for all fund types. 9) Budgets for all funds are adopted on a basis consistent with accounting principles generailly accepted in the United States of America (GAAP) for that fund type, except that mortgage assistance cash outlays and receipts are budgeted as operating activities and compensation accruals are not budgeted in the Monroe County Comprehensive Plan Land Authority Special Revenue Fund. For the fiscal year 2008, the following adjustments were necessary to present the actual data on a budgetary basis for MCL.A„ OAAP basis (139,220) Compensation accrual (2,813 Non-OAAP budgetary basis I4'",OM 10) All appropriations lapse at year end. F-6 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 80, 2008 NOTE 1 - SUIViMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Encumbrances Encumbrance accounting, under which purchase orders„ contracts„ and other commitments for the expenditure of moneys are recorded as a reservation of budget, is employed as an extension of the statutorily required budgetary process.. Under Florida Statutes„ appropriations, even if encumbered, lapse at fiscal year end. Encumbrances outstanding at September 80„ 2008„ represented by purchase orders and other executory contracts, were $20,40 ,917. it is the County's intention to substantially honor these encumbrances under authority provided in the subsequent year's budget. Use of Estimates - The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America, as applicable to goverinmental units, requires management to make use of estimates that affect the reported amounts in the financial statements. Actual results could differ from estimates. Cash and Cash E uivalents — 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 i such that all participating funds have the ability to deposit and withdraw cash as if they were demand deposit accounts, and therefore all balances representing participants' equity in the investment pools are classified as cash equivalents for purposes of these statements, For investments, which are held separately from the pools, those, which, are highly liquid (including restricted assets) with an original or remaining i maturity of 90 days or less„ are considered) to be cash equivalents. Investments - Florida Statute 2.18,415 authorizes local governments to invest its funds pursuant to a written investment plan, which alllows investment of surplus funds in the following,- 1) The Florida Local Government Surplus Funds Trust Fund Investment good (SBA). 2) 'United States Government Securities — Negotiable direct obliigations or obligation, the principal and interest of which are unconditionally guaranteed by the United States Government. 8) 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 secuirities issued or guaranteed by United States government-sponsored agencies (Federal Instrumentalities). These are limited to the folllovwing: Federal Farm Credit Bank (FFCB) • Federal Home Loan Bank or its County banks (FHLB) • Federal National Mortgage Association (FNI'w'iA) Federal Home Loan Mortgage Corporations (Freddie-M acs) including Federal Home Loan Mortgage Corporation participation certificates. S) Interest-bearing Time Deposit or Savings Account — Non-negotiable interest-bearing time certificates of deposit or savings accounts in financial institutions organized under the lawn 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 shalil not be listed with any recognized credit watch information service. F-7 MGNRGE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 200 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued') 0) Registered Investment Companies (Money Market Mutual Funds) — Shares in open-end and no-iload Money Market Mutual Funds provided such funds are registered under the Federal Investment Company Act of 1,940 and operate in accordance with 17 C.F.R. 270.2a-7, which stipulates that money market funds must have an average weighted maturity of 90 days or less. In addition, the share value of the money market funds must equal to $1.00. 7) Intergovernmental Investment Pool — Intergovernmental Investment Pools that are authorized pursuant to the Florida Interllocal Cooperation Act, as provided in Section 16 .01, Florida Statutes. AIII investments are stated at fair value, Accounts Receivable - Amounts due from private individuals or organizations 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. Additionally, short-term interfund loans are recorded from time to time 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, Interfund loans not expected to be repaid within one year are reported as advances. In governmental funds, advances, if any, are offset equally by a fund balance reserve, which indicates that they do not constitute expendable available financial resources and, therefore, are not available for appropriation. Inventory — Inventory in the General Fund consists of certain supplies, which are stated at cost using the moving average cost method... The inventory is determined by an annual physical count. No reserve has been established within the General Fund balance as the consumption method is used to account for this inventory. Capital Assets - 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 fair market value at the date of donation. The County maintains a $11,000, 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 Mines„ landfill improvements, parks and drainage systems. Additions and improvements for roads, water, sewer, landfill and drainage infrastructure are capitalized when the cost amounts to $250,000 while park additions and improvements are capitalized at $25,000. When the MCLA acquires land by donation, the asset is recorded at the Authority's transaction cost plus the higher of the tax assessed value at the time of donation or 115% of the 1986 tax assessed value. F- MONROE COUNTY, FLORIDA Notes, To Financial Statements For the Year Ended September 30, 2008 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 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 101-50 Equipment 5-10, Infrastructure 1 O-50 Public domain infrastructure 20-50 Capacity rights 99 Interest cost incurred for the Key West Airport Enterprise Fund during construction is capitalized, net of interest income from the proceeds of related tax-exempt debt, as part of the cost of the related assets. This capitalized interest amounted to $407,328 at fiscal year end. Unamorfized Debt Issuance Expense — Uniamortized debt issuance expense of the enterprise funds is reported as a deferred charge and is amortized by using the straight-line method over the Life of the debt. Compensated Absences — 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. 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 designatedi are identified as restricted assets on the balance sheet. When both restricted and unrestricted resources are available for use, the Couinty's policy is to use restricted resources first, and then unrestricted resources, as they are needed. Landfill Closure Costs - Under the terms of current state and federal regulations, the County is required to place a final cover on closed landfill areas, and to perform certain monitoring and maintenance functions for a period of up to 30 years after closure. In accordance with GASB Statement No. 18, the County is recognizing these costs of closure and post closure maintenance over the active life, of each landfill area, based on landfill capacity used during the period. Required obligations for these costs, are recognized in, the Municipal Service District-Waste enterprise fund for public landfill operations. Deferred Revenue - Deferred revenues include amounts collected before the revenue recognition criteria are met. In the governmental fund statements, amounts associated with receivables which, under the modified accrual basis of accounting, are measurable but not yet available are reported as deferred revenues. The deferred items of the County additionally consist of contracts for providing services in the future and grant funds received in advance of expenditures. Also bond forfeitures that have not yet been recognized as revenue in accordance with Section 903.28, Florida Statutes, have been reported as deferred revenue,. This Section requires the recognition of revenue, over a two-year period. Amounts are reduced by any reinstatement of bond amounts by court order. Lone-Terms Obligations — In the proprietary fund financial statements of the County, long-term debt is reported as a liability in the, proprietary fund, statement of net assets. Long-term debt associated with F-9 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) the County's governmental activities is presented on the government-wide financial statements of the County, rather than, on the fund 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, whiile principal payments are reported as expenditures. Property Taxes - Property taxes, based on assessed values at January 1, are levied and become due and payable on November 1 st of each year. A four percent discount is allowed if the taxes are paid in November, with the discount declining by one percent each month thereafter. Taxes become delinquent on April 1st of each year, and tax certificates for the full amount of any unpaid taxes and assessments must be sold not later than June 1st of each year. No accrual for the property tax levy becoming due in November of 20707 is included in, the accompanyingi financial statements, since such taxes are collected to finance expenditures of the subsequent period. Fund Balances — In the governmental fund financial statements, reservations or restrictions of fund balance represent amounts that are not appropriable or are legally segregated for a specific purpose. Designations of fund balance represent tentative management plans that are subject to change. The governmental fund types classify fund balances as follows: Reserved Reserved for Encumbrances - portion of fund balance available to pay or any commitments related to purchase orders and contracts that remain unperformed at year-end. Reserved for Land Acquisition — portion of fund balance MCLA restricted for land acquisition. Reserved for Mortgage Loans — portion of fund balance offsetting mortgages receivable for MCLA because they are not available spendable resources. Reserved for Debt Service - portion of fund balance available to pay for any commitments related to outstanding debt at year-end. Unreserved Designated for Beaches — a portion of fund balance is designated by the County in the Tourist Development District#1, Three Cent Special Revenue Fund for beach nourishment projects. Undesignated — a portion of total fund balance available for appropriation that is uncommitted at fiscal year end. Fund Deficits — At September 30, 2008 the unreserved fund, deficit of $2,487,291, $1,567,707, $434,495, and $,75,337 were identified in the major Governmental Grants Fund and the Infrastructure Revenue Bonds, Series 2003 and the nonmajor Sheriff's Grant Special, Revenue Fund and the Duck Key Wastewater Capital Project Fund respectively. The Governmental Grants Fund unreserved fund deficit is the result of collecting DEP funds beyond the availability period to recognize revenues. This is a timing issue and the funds have been received and recorded as revenue in the fiscal year ending 2009. The Infrastructure Revenue Bonds, Series 2003 and the Duck Key Wastewater Project unreserved fund deficits had funds available in the One Cent Infrastructure Surtax and the Duck Key IVISTU Special Revenue Fund respectively and are transfer timing differences, The Sheriiff anticipates receipt of grant reimbursement for the expenditures in the Sheriff's Grant Fund during the next fiscal year. F-10 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Excess of Expenditures Over Appropriations — For the year ended September 30, 2008, the Tax Collector's debt service principal payment expenditure exceeded appropriations by $1,496, This excess expenditure over appropriation was funded by greater than anticipated revenuies. Net Assets — Net assets in the proprietary fund financial statements are classified as invested in capital assets, net of related debt; restricted; and unrestricted. Restricted net assets represent constraints on resources that are either externally imposed by creditors, grantors, contributors, oir laws or regulations of other governments or imposed by llaw,through state statute. NOTE 2 - CASH, CASH EQUIVALENTS AND INVESTMENTS The County maintains a cash and investment pool that is available for use by all funds except those whose cash and investments must be segregated due to bond covenants or other legal restrictions.. As of September 30, 2008 the carrying value of the County's deposits and investments, other than that of the Pension Trust Fund, with their respective credit ratings, are as follows: Investment Type Credit Fair Value Less than 6 6 Months to I to 3 Years Rating Months 1 Year Demand and Time Deposits NIA $ 51,819,565 $ 51,819,565 $ - $ US Govt Securities MM AAA 10,000,000 10,000,000 - US Treas Securities MM AAA 16,523,790 16,523,790 - Local Gov't SurpIus Funds Unrated 487,030 156,906 - 330,124 Commercial Paper A-1+ 5,441,338 5,441,338 - - US Treas— Notes & Bonds TSY 9,430,419 - - 9,430,419 Insurance Policies/Annuities Unrated 17,795,181 - - 17,795,181 Fed Instrumentalities-Disc Notes A-1+ 71,175,256 66,756,836 4,418,420 Fed Instrumentalities-Notes & Bonds AAA 76,240,510 37,184,056 12,149,669 26,906,785 ........... Totai Fair Value $ 2 Credit Risk — The County's lnvestment Policy (Policy) limits credit risk by restricting authorized investments to the followings; Florida Local Government Surplus Funds, Trust Fund Investment Pool administered by Florida's State Board of Administration (a 2a7-like pool),, direct obligations of the United States or its agencies and instrumentalities, money market mutual funds, and Intergovernmental Investment Pools authorized by the Florida Statutes, The Policy requires that investments in federal instrumentality debt be guaranteed by the full faith and credit of the Ul. 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-1 1 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 2 - CASH, CASH EQUIVALENTS AND INVESTMENTS (Continued) Portfolio Maximum in Investment Type Maximum any one issuer Florida Local Government Surplus Funds Trust Fund 100% n/a United States Government Securities 100% n/a United States Government Agencies 50% 10% Federal Instrumentalities 30%, with a maximum of Maximum in callable securities 80% 25% in callable securities Interest-bearing Time Deposit or Savings Accounts 10% 10% Money Market Mutual Funds 20% 10% Intergovernmental Investment Pool 10% n1a At September 30, 2008, the portion of the Board's investment portfolio invested in Federal instrumentalities is detailed as follows: Percent of Issue Investment Portfolio Federal Home Loan Bank 19,86% Federal Home Loan Mortgage Corp (of which 4.87% is callable) 22.02% Federal National Mortgage Assoc (of which 5.6% is callable) 19.57% Federal Farm Credit Bank 78% 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, and create the Public Deposits Trust Fund, a multiple financial institution pool with the ability to assess its member financial institutions for collateral shortfalls if a default or insolvency has occurred. Demand and time deposits are fully insured by the FDIC or are covered by the State of Florida collateral pool, a multiple financial institution pool with the ability to assess its members for collateral shortfalls if a member institution fails. 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, 2008, 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. Cash andl Cash Equivalents — The County has the following unrestricted and restricted cash and cash equivalents in the Fund Financial Statements at September 30, 2008: Local Gov't Surplus Trust Demand Money Market Fund Deposits Funds Total Unrestricted Cash & Cash Equivalents: Governmental Activities: Governmental Funds $484,972 $32,457,380 $17,452,402 $50,394,754 Internal Service Funds - 6,946,671 4,797,041 11,743,712 Business-Type Activities, - 4,277,713 730,920 5,008,633_ Total Unrestricted Cash & Cash Equivalents 484,972 43,681,764 22,980,363 67,147,099 F-1 2 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 2 - CASH, CASH EQUIVALENTS AND INVESTMENTS (Continued) Local Gov't Surplus Trust Demand Money Market Fund Ceosits Funds Total Restricted Cash and Cash Equivalents: Business-Type Activities 2,058 2,554,891 3,543,427 6,100,376 Total Cash and Cash, Equivalents $487,030 $46,236,655 $26,523,790 $73,247,475 At September 30, 2008„ the fiduciary funds had pooled cash balances totaling $5,71:14,892 in STIF/ money market funds and demand deposits comprising $122,516 and $5,592,376 respectively. NOTE 3 — RESTRICTED ASSETS Restricted assets include those created by resollutionis adopted by the County for the issuance of Key West Airport Revenue Bonds, the landfill escrow account, and airport passenger facility charges. Total restricted assets, as of September 30, 20,08 are as follows: Cash and Cash Interest Equivalents Investments Receivable Total Municipal District' aste Landfill Closure Escrow $ 8,259 $ 1,852,168 $ - $ 1,860,427 Kev West Airoort Passenger Facility Charge 915,002 3,942,484 31,267 4,888,753 Sinking Fund 2,014,581 - - 2,014,581 Renewal and Replacement 3,394 513,302 - 516,696 Debt Service Reserve 3,663 2,736,720 19,184 2,759,567 Construction Fund 2,779,966 6,793,788 - 9,573,754 Operating Reserve 71„419 184,618 256,037 Arbitrage Rebate 304,092 - 304,092 ................. $ 6,100,376 $ 16,023,080 $ 50,451 $ 22,173,907 NOTE 4 — ACCOUNTS RECEIVABLE Accounts receivable, in the accompanying fund financial statements, are shown net of the allowance for doubtful accounts. The allowance is as follows: $1,109,98,6 for major governmental funds, $931,731 for non-major governmental funds, $556,200 for the Municipal Service [district-Waste Fund, $62,720 for the Key West Airport Fund and $1,977 for the Group Insurance Internal Service Fund:. The County approved an ambulance billing write off during the year of $249,833. NOTE 5 - MORTGAGES RECEIVABLE Mortgages receivable at September 30, 2008 consist of the following: F-13 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 5 - MORTGAGES RECEIVABLE (Continued) Major Governmental Funds: Governmental Grants Fund: Second Mortgages Receivable from individuals, collateralized by personal residences. The entire amount of the loan will be, forgiven over a five-year period at a rate of one fifth per year, beginning on the 1st anniversary of the completion of the construction of the improvements funded by the mortgage, providledl that the mortgagor complies with the mortgage, covenants. 141,543 Nonmaijor Governmental Funds: Comprehensive Plan Land Authority Fund: First mortgage due from governmental agency, collateralized by land, payable in full April 2028, interest free 382,554 First mortgage due from governmental agency, collateralized by land andl building, payable in full May 2031, interest free 1,500,000 Second mortgage due from governmental agency, collateralized by land, payable in full January 2034, interest free 2,210,000 First mortgage due from governmental agency, collateralized by land and building, payable in full September 2045, interest free 59,025 Third mortgage due from private company, collateralized by land, payable in full May 2050, interest free 1,089,000 Third mortgage due from private company, collateralized by land, payable in full September 2053, interest free 1,500,000 6,740 579 Affordable Housing Programs, Fund; Second Mortgage Receivable from, individual, collateralized by personal residence, The entire amount of the loan will be forgiven over a ten-year period at a rate of one fifth per year, beginning on the 6th anniversary of the completion of the construction of the imiprovements funded by the mortgage, provided that the mortgagor complies with the mortgage covenants. 7,294 Local Housing Assistance:. Second Mortgages Receivable from individuals, collater,allized by personal residences. Commencing in year siixteen 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. 115,056 F-14 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 5 - MORTGAGES RECEIVABLE (Continued) 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 ann,um from the date when payment of the second is due. The entire balance of the loan is intended to be, forgiven. However, in the event the home is sold, transferred, rented, refinanced or the first mortgage loan is satisfied, the entire mortgage balance is, due. 5,557,825 Second Mortgages Receivable from individuals, collateralized by personal residences. The entire balance of the mortgage will be forgiven over a ten year period at the rate of ten percent per year upon the anniversary of the mortgage, provided that the mortgagor complies with the mortgage covenants. The mortgages are interest free. 9113,272 6,586,,153 Total Mortgages Receivable The mortgages receivable associated with the Governmental Grants, and!: Affordable Housing Program funds are offset by an allowance for uncollectible accounts of $141,543, and $7,294, respectively. As the mortgages receivable associated with the Local Housing Assistance, fund are, intended to ultimately be forgiven, an allowance for uncollectible accounts of$6,586,153 has been establlished. A reserve of fund balance of $6,740,579 represents the mortgages receivable related to the Comprehensive Plan Land Authority Special Revenue Fund that are equalily offset by a fund balance reserve, which indicates that they do not constitute "available spendable resources," even though they are a component of total assets. This also represents the primary difference in fund balance for the Comprehensive Plan Landl Authority Special Revenue Fund on a GAAP basis versus, the budgetary basis. NOTE 6 — CAPITAL ASSETS Internal service fund capital asset information is included in the governmental activities on the governm,ent-wide, financial statements, because the internal service funds predominately serve those activities. Capital asset activity for the year ended September 30, 2008 is as follows: Beginning Ending Balances Additions Reductions Balances Governmental Activities Capital assets not depreciated: Land $ 85,556,616 $ 3,362,161 $ 2,751,781 $ 86,166,996 Construction in progress 49,943,087 35,454,658 8,01112,222 77,385,523 Total capital assets, not depreciated 135,499,703 38,816,819 110,764,0103 163,552,519 F-15 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 6 — CAPITAL ASSETS (Continued) Beginning Ending Balances Additions Reductions Balances Capital assets depreciated: Buildings 104,906,926 1,0120,211 1,348,393 Ill 04,578,744 Equipment 55,497,105 6,420,183 2,514,555 59,402,733 Infrastructure 40,242,624 1,416,0117 - 41,658,641 Capacity rights 3,150,000 - - 3,150,000 Total capital assets depreciated _203,796,655 8,856,411 3,862,948 208,790,118 Less accumulated depreciation for,: Buildings 36,135,566 2,432,144 550,231 38,017,479 Equipment 28,910,694 4,935,6,02 2,1291,888 31,716,408 Infrastructure 22,238,481 848,969 - 23,087,450 Capacity rights 95,454 31,818 Ill 27,272 Total accumulated depreciation 87,380,195 $ 8,248,533 $ 2,680,119 92,948,609 Total capital) assets depreciated, net 116,416,460 115,841,509 Governmental funds, capital assets, net 251 1916,163 $ 279,394,028 Business-type Activities: Capital assets not depreciated: Land $ 4,802,020 $ - $ - $ 4,802,020 Construction in progress 22,638,478 19,640,643 - 42,279,121 Total capital assets not depreciated 27,440,498 19,640,643 - 47,081,141 Capital assets depreciated: Land improvements 212,925 - - 212,925 Buildings 17,861,087 - - 17,861,087 Equipment 4,514,811 370,081 161,064 4,723,828 Infrastructure 28,751,,489 - - 28,751,489 Total capital assets depreciated 51,340,312 370,081 161,064 51,549,329 Less accumulated depreciation for: Land improvements 212,925 - - 212,925 Buildings 4,678,939 424,733 - 5,103,672 Equipment 2,858,488 300,049 112,367 3,046,170 Infrastructure 10,666,040 1,104,234 - 11,770,274 Total accumulated depreciation 18,416,392 $ 1,829,016 $ 112,367 20,133,0411 Total capital assets depreciated, net Business-type activities, capital assets, net $ 60,364,418 $ 78,497,429 Depreciation was charged to functions/programs on the government-wide Statement of Activities of the County as follows-, F-16 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 6 — CAPITAL ASSETS (Continued') Governmental Activities- Business-type Activities: General Government $1,230,614 Municipal Service District-Waste $ 53,812 Public Safety 4,803,540 Card Sound Bridge 324,628 Physical Environment 110,120 Key West Airport 931,454 Transportation 995,,513 Marathon Airport 519,122 Economic Environment 8,843 Total Business-type Activities $1,829,016 Human Services 284,722 Culture and Recreation 382,970 Court Related 432,211 Total Governmental Activities $8,248,533 NOTE 7 — POST EMPLOYMENT BENEFITS OTHER THAN PENSION Plan Description . The Monroe County Board of County Commissioners (BOCC) administers a single- employer defined benefits healthcare plan (the "Plan"). Florida Statutes 112.0801 requires the County to provide retirees and their eligible dependents with the option to participate in the Plan if the County provides health insurance to its active employees and their eligible dependents, The Plan provides medical coverage and prescription drug benefits to both active and eligible retired employees. The Plan does not issue a publicly available financial report, The BOCC may amend the plan design, with changes to the benefits, premiums and/or levels of participant contribution at any time. In an open session, on at least an annual basis and prior to the annual enrollment process, the BOCC approves the rates, for the coming calendar year for the retiree and County contributions, Eligibility for post employment participation in the Plan is limited to full time employees of the County, and the Constitutional Officers. At September 30, 2008, there were no terminated employees entitled to deferred benefits. The membership of the County's medical plan consisted of: Active Employees 1,259 Retirees and beneficiaries currently receiving benefits 333 Total Membership 1,592 Funding Policy The contribution requirements of plan members and the County are established and may be amended by the County. The required contribution is based on pay-as-you-go financing requirements, net of member contributions. Employees who retire as an active participant in the Plan and were hired on or after October 1, 2001 may continue to participate in the Plan by paying the monthly premium established annually by the BOCC. Employees who retire as an active participant in the plan, were hired before October 1, 2001, have at least ten years of full time service with the County, and: meet the retirement criteria of the Florida Retirement System (FRS) may continue to participate in the Plan at a cost equal to the FRS Health Insurance Subsidy for ten years of service (currently $5 per month for each year of service credit at retirement or $50 per month). Retirees who have met the requirements for early retirement, have not achieved age 60 and whose age and years of service do not equal 70 (rule of 70) must pay the F-17 MONROE COUINTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 7 — POST' EMPLOYMENT BENEFITS OTHER THAN PENSION (Continued) standard monthly premium until the age criteria or the rule of 70 is met, At that time, the retiree's cost of participation will be equal to the FRS Health Insurance Subsidy. Surviving spouses and dependents of participating retirees may continue in the plan if eligibility criteria specific to those classes are met. For the fiscal year 2008, the County contributed the following: Claims paid by Group Insurance Fund $ 2,065,034 Allocation of administrative expenses incurred but not reported costs (IBNR) 178,755 OPEB costs 2,243,789 Less retiree contributions .(594,46�) ................1.11-11 County contribution $ 1,649,324 Annual OPEB Costs and Net OPEB Obligation — The County's annual other, postemiplloyment benefit (OPEB) cost (expenses) is calculated based on the annual required contribution of the employer (ARC), an amount actuarially determined in accordance with the parameters of GASB Statement 45, The AR( represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost each year and amortize any unfunded liabilities over a period not to exceed thirty years. The following table shows the actuarially determined components as of October 1, 2007, under the current plan provisions, of the County's unfunded annual OPEB cost, the amount actually contributed to the plan and the changes in the County's net OPEB obligation to the plan. Annual required contribution $ 7,048�000 Interest on net OPEB obligation - Adjustment to, annual required contribution Annual OPEB cost 7,048,000 Less, Contributions made (1,649,32 Increase in net OPEB obligation 5,,398,676 Net OPEB obligation, beginning of year ........ Net OPEB obligation, end of year $ 5,398,676 The net OPEB obligation is $5,050,676 for Governmental Activities and $348,000 for Business-type Activities. No trust or agency fund has been established for the plan; there were no adjustments to the annual required contribution or interest earnings, Funded Status and Funding Progress — At September 30, 20018, the accrued actuarial liability for benefits was $79.637 million, all of which was unfunded. The covered payroll (annual payroll of active employees covered by the plan) was $68.193 million and the ratio of the unfunded actuarial liability to covered payroll was 1,16.8 percent, Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and assumptions about the probability of occurrence of events far into the future. Examples include F-18 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 7 — POST EMPLOYMENT BENEFITS OTHER THAN PENSION (Continued) assumptions about futuire employment, mortality, and the healthcare cost trend. Amounts determined regarding the funded status of the plan and the annual required contributions of the employer are subject to continual revision as actual results are compared with past expectations and new estimates are made about the future, The schedule of funding progress,, presented as required supplementary information following the notes to the financial statements, presents trend information about whether the actuarial value of plan assets is increasing or decreasing over the time relative to the actuarial accrued liabilities for benefits, Actuarial Methods and Assumptions The valluation dated October 21, 2008, for the fiscal dates of October 1, 2007 to September, 30, 2008, was prepared using generally accepted actuarial priniciip,les and practices, and relied on unaudited census data and medical claims data reported by the County. The valuation used the projected unit credit actuarial method. Demographic assumptions mirror those used for the various Florida Retirement System pension funds. The actuarial assumptions include an annual health care cost trend rate of 11.0% initially, reduced by decrements to an ultimate rate of 6.0%, over ten years. The assumptions included a discount rate that is tied to the return expected on the funds used to pay the benefits, and assumes for an, unfunded plan, that the benefits continue to be funded on a pay-as-you-go basis and that the County's investments earn a 5% rate of return over the long term. The unfunded accrued actuarial liability is amortized over thirty years on a closed basis, as a level percentage of the projected payroll, which is assumed to increase at 4.0% per annuim, NOTE 8 - RETIREMENT PLAN Florida Retirement System: Plan _Descriptio, — Substantially all full-time County employees are participants in the Florida Retirement System, (FRS), administered by the Florida Department of Administration. Employees elect to participate in either the defined benefit plan ("Pension Plan"), a multiple-employer-1 cost-sharing puiblic employees defined benefit retirement plan, or the defined contribution plan (investment Plan) under the FIRS. FIRS provides retirement and disability benefits, annual cost-of living adjustments, and death benefits to plan members and beneficiaries of various governmental units within the State of Florida. Benefits are established by Chapter 121, Florida Statutes, and Chapter 605, Florida Administrative Code. Amendments to the law can be made only by Act of the Florida legislature. The FIRS provides for vesting of benefits after 6 years of credited service. Normal retirement benefits are available to employees who retire at or after age 62 with 6 or more years of service, Early retirement is available after 6 years of service with a 5% reduction in benefits for each year prior to the normal retirement age. Retirement benefits are based on age, average compensation and years,-of- service credit where average compensation is computed as the average of an individual's five highest years of earnings. Employees are not required to contribute to this retirement system. In addition to the above benefits, the FRS administers, a Deferred Retirement Option Program ("DROP"). This program allows eligible employees to defer receipt of monthly retirement benefit payments while continuing employment with a FRS employer for a period not to exceed 60 months after electing to participate. Deferred monthly benefits are held:, in the FIRS Trust Fund and accrue interest. For employees who elect to participate in the Investment Plan rather than the Pension Plan, vesting occurs at one year of service. These participants receive a contribution of self-direction, in an F-1 9 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 8 - RETIREMENT PLAN (Continued) investment product with a third party administrator selected by the State Board of Administration. The Florida Division of Retirement issues a, publicly available financial report that includes financial statements and required supplementary information for the FIRS. The report may be obtained by writing to Florida Division of Retirement, Department of Management Services, P.O. Box 9000, Tallahassee, FL 3,2315-9000, or from the web site www.frs,state.fl.us. Fundin,q Polio — The FRS is noncontributory for members. Participating employer contributions are based upon state-wide rates established by the State of Florida. These rates are applied to employee salaries as, follows: regular employees,, 9,85%, special risk employees, 201.92%, special risk administrative support 12.55%; elected officials, 16,53%, senior management 13.12%, and DROP participants 10.91%. The County contributed to the plan an amount equal to 13,.58% of covered payroll during the fiscal year ended September 300 2008. The County"s contributions made, during the years ended September 30, 2008, 2007„ and 2006 were $9,340,689, $9,689,370, and $8,206,747, respectively, equal to the required contributions for each year. The County has historically contributed amounts equal to required contributions and, therefore, does not have a pension asset or liability as determined in accordance with GASB Statement No. 27, NOTE 9 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES Plan Description — The Monroe County, Florida Volunteer Firefighter and Emergency Medical Services, Length of Service Award Plan (LOSAP) is a single-employer defined benefit pension plan 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 had 83 participants for the plan year ended December 31, 2007 and the County's fiscal year ending September 30, 20108. Separate, stand-alone financial statements for LOSAP are not provided. Funding Folic,a — The contribution requirements for plan members and the Board are established and may be amended by the Board. Plan members are not required to contribute. The Boardl contributes an amount determined by an actuarial study. Benefits are calculated based on years of service as the participants are unpaid volunteers. The current contribution rate is $343 per volunteer year of service, Contributions to the plan, along with benefits and refunds paid to participants are recorded when due and payable in accordance with the terms, of LOSAP. Administrative costs are paid by the Board. Annual Pension, Cost and Net Pension Obligation Annual Required Contribution $ 28,477 Interest Adjustment 28,477 Contributions, Made §,477111- Increase in Net Pension Obligation Net Pension Obligation, beginning of year Net Pension Obligation, end of year $ F-20 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 9 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES (Continued) The annual required contribution for the past year was determined as part, of the January 1, 2007 actuarial valuation using the Aggregate Method. This method doles not identify or separately amortize unfunded actuarial liabilities. The actuarial assumptions, included (a) 2.5% investment rate of return (b) no assumption for mortality pattern as it is inapplicable (c) no assumption for salary increases as benefits are not based on compensation and (d) no increase for inflation as benefits are based on a flat amount per year of service. The initial actuarial assumed investment rate of return was 5,0%, which was decreased to 4.0% in 2005, 3.0% in 2006 and 2.5% in; 2007. The, actuarial value of assets includes only the fair value of the assets, Three Year Trend Information Annual Pension Cost Percentage of APC Net Pension Fiscal Year ContributedDblation 12/31/05 $ 61:,050 100% 12/31/06 $ 24,233 100% 12/31/07 $1 28l,477 100% Funded Status and Funding Progress —As, of January 1, 2007, the most recent actuarial valuation date, the plan was 87.0 percent funded. The actuarial accrued liability for benefits was $833,820 and the actuarial value of assets was $725,508, resulting in an unfunded accrued liability (UAAL) of $108,,312. NOTE 10 — CAPITAL COMMITMENTS Construction projects under present contractual agreements as of September 30, 2008, are as follows: Project Construction Commitments Key West Airport 4,831,714 Freeman Justice Center 2,391,878 B,ig Pine Key Fire Station 2,313,711 Murray Nelson Government Center 1,688,311 Marathon Airport Renovation 1,172,325 Miscellaneous 4,328,108 Total $ 16,726,047 The Comprehensive Plan Land Authority has approximately $969,965 of commitments to acquire various properties as of September 30, 20,08. NOTE 11 — LEASE OBLIGATIONS Capitalized lease obligations, are stated at the original fair market value of leased assets capitalized, less payments since the inception of the lease discounted at the implicit rate of interest in, the lease. The future minimum debt reductions under capitalized leases consist of the following at September 30, 2008: F-21 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 11 - LEASE OBLIGATIONS (Continued) Governmental Business-type Activities Activities Fiscal year ending September 30: 2009 $ 165,326 $ 50,000 2010 23,344 50,000 2011 17,520 50,000 2012 1,460 50,000 2013, - 50,000 2014-2018 - 250,000 2019-2023 - 250,000 2024 - 17,270 Total minimum payments 207,650 767,270 Less Amounts representing interest, ( 7,541) - Present value of net minimum lease payments $ 200,109 $ 767,270 Leased property which has been capitalized as of September 30, 2008 is as follows: Governmental Business,-type Activities Activities Equipment $ 877,132 $ 2,335,830 Less Accumulated Depreciation (236,03w. - . 5)., ..........- -- (2,335,830L $ 641,097 $ The County leases office space and equipment under operating lease agreements. Total lease payments made in 2008 were $6,193,721, The following is a schedule by years of future minimuim rentals under non-cancelable operating leases as of September 30, 2008: Fiscal year ending September 30: 2009 $ 5,145,710 201!0 5,075,486 2011 5,085,,424 2012 4,759,318 2013-2017 10,125,556 Total $ 30,191,494 NOTE 12 - LONG-TERM DEBT Long-term debt activity for the year ended September 30, 2008 is as follows: F-22 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 12 - LON�G-TERM DEBT (Continued) Current Portion:of Beginning Ending Long-term Balances Additions Payments m Balances Liabilities Governmental Activities: Governmental Funds Revenue bonds payable $16,830,000 $30,506,854 $1,323,990 $46,01,2,864 Revenue notes payable 1 l2'26,284 21,000,000 600,970 21,625,314 625,314 Note payable 7,482 - 7,482 Arbitrage payable 92,468 68,167 160,635 - Accrued comp. absences 7,280,933 2,345,185 2,194,079 7,432,039 662,766 OPEB Liability - 5,050,676 - 5,050,676 - Capitalized lease obligations 402,442 202,333 200,109 159,947 ...... ......... Total Governmental Funds $25,839,609 $58,970,882 $4,489,489 $80,321,002 $5,344,118 Business type Activities: Revenue bonds payable $ $ 5,355l000 $25,100,000 $ 735,000 Revenue note payable 2,422,744 447l310 1,975,434 463,278 Arbitrage payable 248,720 55,0,17 303,,737 Landfill closure costs 390,667 9,766 - 400,,433 Accrued comp. absences 361,894 217,591 85,616 493,869 131,975 OPEB Liability 348,000 - 348,000 - Capitalized lease obligations 817,270 - 501,000 767,270 50,000 Total Business-type Activities $34,696,295 $ 630,374 $ 5,937,926 $29,388,743 $1,380,253 Total Long-Term Debt $60,535,904 $59,601,256 $10,427,415 $109,709,745 $6,724,371 Internal service fund long-term debt information is included in, the governmental' activities on the government-wide financial statements, because the internal service funds predominately serve those activities. The majority of the compensated absences for governmental activities are generally liquidated by the General Fund. The following is a summary of the County's bonds and notes as of September 30, 2008: Governmental Activities Revenue Bonds: Infrastructure Sales Surtax Revenue Bonds, Series 2003 $ 15,590,000 Infrastructure Sales Surtax Revenue Bonds, Series 2007 29,415,000 Unarnortized Original Issue Premium, Series 2007 1,007,864 Total Revenue Bonds 46,012,864 Revenue Notes: Guaranteed Entitlement Refunding Revenue Note, Series 2002 626,677 Less Unarnorfized Loss on Refunding (1,363) Florida Rural Utility Financing Commission Revenue Notes, Series 2008A 21,000,000 Total Revenue Notes 21,625,314 Total Government Activities $ 67,638,178 F-2'3 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended: September 30, 2008 NOTE 12 - LONG-TERMl DEBT (Continued) Buisiness-tviDe Activities Revenue Bonds: Key West International Airport Revenue Bonds, Series 2006 $ 25,100,000 Revenue Note: Solid Waste Disposal System Refunding Revenue Note, Series 2002 2,038,356 Less Linamortized Loss on Refunding 2,922j Total Revenue Notes 1,975,434 Total Business-Type Activities $ 27,075,434 Debt Service Funding Requirements - The total annual debt service requirements for bonds and notes outstanding at September 30, 2�008 are as folloi Governmental Activities Business-type Actuvuties Principal -"-I'n,—te-r e-s"-t- Total 2009 $ 2,,659,382 $ 1,737,5176 $ 4,,396,958 $ 4,200,765 $ 201,150 $ 4,401,915 2010 3,925,000 1,588,708 5,513,708 977,841 1,172,494 21,1501335 2011 25,070,000 1,440,678 26,510,678 985,499 1,129,536 2,115,035 2012 4,,2201,000 1,284,405 5,504,40,5 410,000 11086,525 1,496,525 2013 4,380,000 11120,503 5,500,,503 450,000 1,063,975 1,513,975 20114-2018 24,620,000 2,788,847 27,,408,847 2,445,000 4,942,025 7,387,025 2019-2023 - - 3,330,000 4,180,825 7,510,825 2024-2028 5,235,000 3,116,850 8,351,850 2029-2033 7,8851000 1,249,050 9,134,050 ............ Total $64,874,382 $ 9,960,717 $,74,835,099 $25,919,105 $18,142,430 $44,061,535 The principal funding requirement for Governmental Activities differs from the debt outstanding by $2,763,796 which is comprised of $1,757,2915 in principal funded in FY 2008, $1,007,864 OiIP less the $1,363 unamortized refunding loss. The Business-type Activities difference of $1,156,329 is comprised of $1,219,251 in principal funded in FY 2008 less the unamortized refunding loss of $62,922, At September 30, 2008, the current portion of the unamortized loss on refunding is $22,337, Long-Term Debt at September 30, 2008 is composed of the following issues: $21,455,000 Infrastructure Sales Surtax Revenue, Bonds, Series 2003 Type: General Government Revenue Bonds Dated: March 2003 Final maturity-. Year 2018 Principal payment date, April 1 Interest payment dates: April 1 and October 1 Interest rates: 2.75% to 4,0% Amount outstanding at September 30thi: $15,590,,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 $18,712,390, For the fiscal year, principal and interest paid was $1,8016,950 and total pledged revenue was $15,147,593. Purpose: To construct ands acquire equipment and; capital improvements. Call provisions: First redemption date may not be later than 4/20/13 and no call premium may exceed 2% of the par amount redeemed. F-24 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 12 - LONG-TERM DEBT (Continued) $29,415,000 Infrastructure Sales Surtax Revenue Bonds Series 2007 Type: General Government Revenue Bonds Dated: November 2007 Final maturity Year 2018 Principal payment date: April I Interest payment dates, April 1 and October 1 Interest rates: 4,0% to 5,0% Amount outstanding at September 30th- $291,411:5,000, Reserve requirement; None; MBIA insured. Revenue pledged: All of the One Cent Locall Government Infrastructure Sales Surtax accruing to Monroe County. The total principal and interest remaining to be paid is $3,6,244,050. For the fiscal year, principal ands interest paid was $991,744 and total pledged revenue was $115,147,593. Purpose: To construct and acquire equipment and capital improvements. Call provisions: None $21,000,000 Florida Rural Utility Financing Commission Revenue Notes, Series 2008A Type, General Government Revenue Notes Dated: January 2008 Final maturity: Year 20111 Principal payment date: 2011 Interest payment dates,- January 1 and July 11 Interest rate: 4,2% Amount outstanding at September 30th: $21,000,000 Reserve requirement: None Revenue pledged: Permanent financing proceeds, The total principal and interest remaining to be paid is $23,205,000. For the fiscal year, principal and interest paid was $384,650. Purpose- Wastewater capital improvements. Call provisions, First redemption date may not be earlier than 2/1/09. $30,455,000 Key..West International Airport Revenue Bonds Type: Enterprise Revenue Bond Dated: July 2006 Final maturity: Year 2033 Principal payment clate, October 1 Interest payment dates: Monthly Interest rates: 5,50% Amount outstanding at September 30th: $25,100,000 Reserve requirement, None. Revenue Pledged- (1) Net Revenues (as defined in the Resolution) to be derived from the operation of the airport, (2) Other Available Moneys (as defined in the Resolution), (3) Hedge Receipts and (4) (until applied in accordance with the provisions of the Resolution) all moneys, including investments thereof, in certain of funds and accounts established under the Resolution, and (5) the Reserve Account, The total principal and interest remaining to be paid is $43,,135,255. For the fiscal year, principal of $735,000 was funded by pledged revenue of ,385,552 and interest of $,760,631 was funded by capitalized interest secured when the bonds were issued, Purpose: Acquire, construct and equip varlouis capital improvements at the Key West International Airport Call provisions. (1) Optional Redemption at par on any date (2) Mandatory redemption at par at the option of the Bank upon the event of default under the Reimbursement Agreement or with respect to Bank Bonds At least 15 days notice of mandatory tender of Series 2006 Bonds for purchase; at least 30 days notice of redemption. F-25 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 12 - L+ NG-TERM DEBT (Continued) �4,143 9,45 Solid Waste Disposal System Refunding Revenue Note Series 2002 Type: Enterprise Revenue Note Dated: December 2002 Final maturity: Year 2012 Principal payment date: October 1 Interest payment dates: April 1 and October 1 Interest rates: 3.41% Amouint outstanding at September 30thi: $2,038,356 Reserve requirement: None. Revenue pledged: Gross revenues from the solid': waste disposal, collection and management systems. The total principal and interest remaining to be paid is $2,180,284, For the fiscal year, principal and interest paid was $553,760 and total pledged revenue was $15,354,829. Purpose: To refund on a, current basis the Monroe County Municipal Service District Refunding Improvement Bonds, Series 1991. Call provisions: No prepayment penalty. Bank requires 10 days notice. 13,495,144 Guaranteed Entitlement Refunding Revenue Note, Series 2002 Type, General Government Revenue Note Dated: December 20012 Final maturity: Year 2009 Principal payment date: December 1 Interest payment dates: June 1 and December 1 Interest rates: 2.96%, Amount outstanding at September 30th- $626,677 Reserve requirement, None. Revenue pledged: Lien and pledge of Guaranteed Entitlement and Second Guaranteed Entitlement from the State Revenue Sharingi Trust Fund provided by Chapter 219, Florida Statutes, The total principal and interest remaining to be paid is $635,,952. For the fiscal year, principal, and interest paid was $636,711 and total pledged revenue was $1,990,010, Purpose: To refund on a current basis the $7,230,000 Monroe County, Florida Refunding Revenue Bonds, Series 1,993, Calll provisions: No, prepayment penalty. Bank requires 10 days notice. NOTE 13 - D,EFEASANCE OF DEBT In prior years, the County clefeased revenue bonds by placing the proceeds, of new bonds with an escrow agent in irrevocable trust accounts, to provide for allil future debt service payments on the old bonds. Accordingly, the trust account assets and liabilities for the defeased bonds are not included in the County's financial statements. The following schedule reflects outstanding principal on refunded bonds, by issue, as of September 30, 2008: $2,155,000 Refunding Improvement Revenue Bonds, Series 1983; diefeased on January 1, 1993 using proceeds from the Refunding Improvement Revenue Bonds, Series 1993/83 $ 650,000 $5,000,000 Improvement Revenue Bonds, Series 1988; clefeased on, May 1, 1993 using proceeds from the Refunding Revenue Bonds, Series 1993/88 530,000 , Total Governmental Activities $ 1,180,0001_ F-26 MONROE, COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 13 - DEFEASANCE OF DEBT (Continued) $8,000,000 Municipal Service District Improvement Revenue Bonds, Series 1980; defeased on December 6, 1985 using proceeds from the $9,211,774 Municipal Service District Refunding Improvement Bonds, Series 1985 $ 5,370,000 $9,211,774 Municipal Service District Refunding Improvement Bonds, Series 1985; dliefeased on April 1, 1991 using proceeds from the Municipal" Service District Refunding Improvement Bonds, Series 19911 3,955,000 Total Business—type Activities $ 9,325,000 NOTE 14— INTEREST RATE CAP Contracts - The County has an interest rate cap agreement in, effect at September 30, 2008 for the $30,455,000 Key West International Airport Variable Rate Revenue Bonds (Key West International Airport), Series 20016 ("Series 2006"'). Ob*ective - As a means, to manage, interest rate risk related to the variable rate bonds at the time of issuance on July 18, 2006, the County entered into an interest rate cap agreement in connection with its Series 2006 bonds, The intention of the cap agreement was to effectively limit the County's maximum variable interest rate on the bonds to a fixed rate of 5.50% for a period of three years. Te,rms, fairvalues, and credit risk - The terms, fair values, and credit ratings of the outstanding cap as of September 30, 2008 are as follows. The notional! amount of the cap agreement matches the principal amount of the associated debt and declines with the principal amortization on the bonds, Associated Notional Effective Fixed Variable Rate Fair Termination Counterparty Bond lssue Amount Date Rate Value Date Credit Rating (2) Series July 19, October 1, 2006 $ 30,455,000 20016 5.50% Weekly Rate $830 2009 Aa2/AA-/AA- (1) Determined weekly by Remarketing Agent (2) Counte,rparty's guarantor Credit risk - As of September 30, 2008 the positive fair value of the agreement represents the County's exposure to credit risk. Should the counterparty to the cap fail to perform according to the terms of the cap agreement, the County faces variable credit risk to the same extent as if the County had not entered into the cap agreement. The counterparty carries a guarantee by an entity ('"counterparty guarantor") rated Aa2 by Moody's Investors Service (Moody's), AA- by Standard and Poor's (S&P), and AA- by Fitch Ratings (Fitch). Basis risk - The cap does not expose the County to basis risk. Termination Risk - The County or the counterparty may terminate the cap agreement if the other party fails to perform under the terms of the contract. An additional termination event occurs if the F-27 MONROE, COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 14 — INTEREST RATE CAP, (Continued) counterparty ratings fall below specified categories by Moody's and S&P, and any other Rating Agency. The swap may be terminated by the County with 30 days notice and the counterparty can terminate the swap if the County falls below Baal by Moody's, BBB by S&P, and an equivalent investment grade from, any other Rating Agency, provided however that any termination must have insurer consent. Rollover Risk — The County is exposed to rollover risk on the interest cap agreement that terminates prior to the associated debt. When this agreement terminates, the County will not realize the synthetic rate offered by the agreement on the underlying debt issue. NOTE 15 — CONDUIT DEBT IDA Health Care Facilities, Revenue Bonds, Series 2003 - The Monroe County Industrial Development Authority approved the issuance, of IDA Health Care Facilities Revenue Bonds, Series 2003, not to exceed $2,5010,000 and for a, loan by the Authority to the Guidance Clinic of the Middles Keys, Inc. to provide for the refinancing of certain outstanding indebtedness of the corporation and for financing certain capital improvements to, the corporations health care facilities. Ownership of the acquired facilities is in the name of the private entity served by the bond issuance. Neither the County, the Authority, the State, nor any political subdivision thereof is obligated in any manner for the repayment of the bonds. Accordingly, the bonds are not reported as liabilities in the accompanying financial statements. Maturity of the Series 20,03 Bonds is August 1, 2018, Industrial Development Bonds (North Key Largo Utility Corp., System), Series 2005 — The Monroe County Industrial Development Authority issued Industrial Development Revenue Bonds (North Key Largo Utility Corporation System), Series 2005 totaling $2,965,0100 on September 1, 2005 for the exchange of a like principal of the $3,400,000 of Industrial Development Revenue Bonds issued in 1995 related to the North Key Largo Utility Corporation Project. Neither the County, the Authority, the State, nor any political subdivision thereof is obligated in any manner for the repayment of the bonds. Accordingly, the bonds are not reported as liabilities in the accompanying financial statements, Maturity of the Series 2005 Bonds, is March 1, 2025. City of South Miami Health Facilities Authority Hospital Revenue Bonds, Series 2007 On April 18, 2007„ the County approved an interlocal agreement with the City of South Miami Health Facilities Authority for the issuance of $800,0010,000 of tax-free bonds for Mariner's Hospital (Baptist Health South) for the purpose of financing capital improvements to health care facilities and refund outstanding bonds. The facilities will be owned by the issuers of the bonds and the County is not obligated in any way for the repayment of the bonds. Monroe County was part of a group consisting of the State of Florida and other units of local government that participated to establish the tax-free status of the bonds. Accordingly, the bonds are not reported as liabilities in the accompanying financial statements. Maturity of the Series 2007 Bonds its August 15, 2042, NOTE 16 — RECOGNITION OF CLOSURE AND POST CLOSURE COST As described in Note 1, current regulations of the U,S, Environmental Protection Agency (EPA) and the Florida Department of Environmental Protection (FDEP) require municipal sollid waste landfills to place a final cover on closed landfill, areas, and to maintain those areas for up to 30 years after closure, The County obtains updated and revised estimates of total future closure and post closure costs from its engineers. F-28 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 20018 NOTE 16 — RECOGNITION OF CLOSURE AND POST CLOSURE COST (Continued) All amounts recogniized are based upon what it would cost to perform closure and post closure functions in current dollars. Actual costs may be different due to inflation, changes in technology, or changes in laws and regulations. Recognition of the liability for closure and post closure costs is based on the landfill capacity used to date, The landfill capacity of the Couinty's previously operated landfills is 100% used and has no remaining landfill life. Closure of these landfills, was, substantially completed during the year ended September 30, 1994. The County has another landfill site, which has never been used. Accordingly, no future closure cost is accruable except for post closure costs estimated to be incurred in the coming year. At September 30, 2008, the estimated future cost for post closure maintenance, which is reported as a, long-term liability in, the Municipal Service District-Waste enterprise fund, was $400,433. For the, publlic landfill, accounted for in the Municipal Service District-Waste enterprise fund, expenses associated with the final closure ands post closure maintenance of landfills areas are recognized over the active life of those, areas, These costs are recognized in each operating period based on, the amount of waste received during that period,, regardless of when cash disbursements are made for these costs. The cumulative effect of updated and revised estimates of closure-related costs is recognized in the period of the change to the extent it relates to current and past operations, The Florida Department of Environmental Protection approved a post closure operating plan, which permits the County to fund closure, and post closure costs as an operating expense using annual appropriations. The landfill is required by state and federal laws and regulations to make annual contriibuitions to a cash escrow account to meet financial assurance requirements. In accordance with laws and:, regulations, the landfill had cash and investments of $1,860,427 held for these purposes at September 30, 2008. In the event closure escrows and interest earnings prove inadequate due to inflation, changes in technology or additional post closure care requirements, these costs may need to be covered by charges to service users. NOTE 17 - INTERFUND BALANCES Interfund balances at September 30, 2008 are as follows: Due to General Fund from: Fine and Forfeiture Fund $ 20,418 Governmental Grants, Fund 180 Card Sound Road Fund 242 Nonmajor Governmental Funds 961,757 Total 982,597 Due to Fine and Forfeiture Fund from: General Fund 1,043,648 F-29 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 17 _ INTERFUND BALANCES (Continued) Clue to Governmental Grants Fund frorn: General Fund 2.16,662 Fine and Forfeiture Fund 16,667 One Cent Infrastructure Surtax Fund 27,961 Nonmajor Governmental Funds 19,266 Total 274 e 556 Due to Infrastructure Revenue Bonds, Series 2003 Fund from: One Cent Infrastructure Surtax Fund 2,9010,000 Due to Big Coppitt Wastewater Project Fund from: Governmental Grants Fund 2,828,761 Nonmajor Governmental) Funds 168,553 Total 2„937„314 Clue to Nonmiajor Governmental Funds from;: General Fund 1,929,475 Fine and Forfeiture Fund) 42,000 Governmental Grants Fund 165„895 FIIDTA Grants Fund 67,787 Big Coppitt'Wastewater Project Fund 114„272 Card Sound Road Fund 431 Key West Airport Fund 99,532 Internal Service Funds 1,185 Nonmajor Governmental Funds 1,209,695 Total 2„721,272 Due to Municipal Svc District Fund from: General Fund 5„637 Governmental Grants Fund 16,379 Card Sound Road Fund 236 Internal Service Funds 43 Nonmajor Governmental Funds 3,737 Total 20,032 Due to Key West Airport Fund from: Nonmajor Governmental Funds 15,173 Due to Internal Service Funds from: General Fund 48,684 HIDTA Grants Fund 11,329 Nonmajor Governmental Funds 6,376 Total 65,789 Total Interfund Balances $10,960,381 F-30 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 17 - INTERFUINCI BALANCES (Continued) Curing the course of operations, transactions occur which result in amounts oared to a particular fund by another fund, other than for goods provided' or services rendered. These receivables and payables are due within a year and are classified as "Due from other funds/Due to other funds" on the governmental funds balance sheet or proprietary fund statement of net assets. NOTE 18 - INTERFUND TRANSFERS Interfund transfers at September 30, 2008 are as follows. Transfers to General Fund from; Fine and Forfeiture Fund $35,068,443 One Cent Infrastructure Surtax (Fund 209,437 Municipal Svc District Waste Fund 418,537 Card Sound Road Fund 53,567 Marathon Airport Fund 1108„480 Internal Service Funds 731,178 Nonmajor Governmental Funds 10,517,978 Total 47„107,620 Transfers to Fine and Forfeiture Fund from General Fund 1,027,216 Transfers to Governmental Grants Funds from General Fund 233,34 Fine and Forfeiture Fund 16,667 One Cent Infrastructure Surtax Fund 27„961 Nonmajor Governmental Funds 18,460 Total 296,482 Transfers to One Cent Infrastructure Surtax Fund from: Governmental Grants Fund 568,167 Nonmajor Governmental Funds 17,594 Total 585,761 Transfers to Infrastructure Revenue Bonds, Series 2003 Fund from:: Governmental Grants Fund l 57,660 One Cent Infrastructure Surtax Fund 5,820,000 Nonmajor Governmental Funds 42„800 Total 5,920,460 Transfers to Infrastructure Revenue Bonds„ Series 2007 Fund from: Governmental Grants Fund 292,053 Transfers to Big CoppittWastewater Project Fund from: Governmental Grants Fund 4,947„766 One Cent Infrastructure Surtax Fund 1„000,000 Total 5,947,766 F-31 MONIROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2998 NOTE 18 - INTERFUND TRANSFERS (Continued) Transfers to Nonmajor Governmental Funds from: General Fund 1,547,256 Fine and Forfeiture Fund 1,78 ,10 Governmental Grants Fund 411,573 One tent Infrastructure Surtax Fund 4,144,245 Nonmajor Governmental Funds 1,318,399 Total 9,298,853 Transfers to Municipal Svc District Fund from: General Fund 4,922 Transfers to Key"lest Airport Fund from: One Cent Infrastructure Surtax Fund 2,500,000 Internal Service Funds 83,635 Total 2,583,635 Transfers to Marathon Airport Fund from: Key West Airport Fund 807 Internal) Service Funds 2,588,3911 Total 2,589„198 Total) Ilnterfund Transfers 75,560,875 The major fund, One tent Infrastructure Surtax„ interfund transfers out totaling ; 12,464„245 are related to the funding of debt service as well as partial funding for the Nelson Government tenter, the new Judicial Courthouse and the new Medical Examiner's offices which are accounted for in the Infrastructure revenue Bonds, Series 2003 major fund. The Key West Airport major enterprise fund also received partial funding from the same source for the new Key West Airport terminal. resources of $4,947,766 from the DEP Grants in the Grant major fund are transferred out to the Sig Coppitt Wastewater project for partial funding. The Marathon Airport major fund received insurance recoveries related to Hurricane Wilma of $2,588,391 from the Risk Management Internal Service Fund. Other transfers in and out are related to supporting operations and grant match requirements, NOTE 19 _ RISC MANAGEMENT The Board its 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 1'1988, the Board established theWorker's Compensation„ Group Insurance„ and Risk Management Funds, respectively, as internal service funds to account for and finance its uninsured risks of loss. Under these programs, the Worker's Compensation provides $1,000,0010 coverage per claim. The Group Insurance Fund provides self insured excess claims. risk Management has a $5,000,000 excess insurance policy for general liability claims with a $100,000 self-insured retention„ and building property damage is covered for the actual value of the building with, a deductible between $1100,000 and $250,000. Deductibles for windstorm and flood vary by location, The Board purchases commercial insurance for claims in, excess of coverage provided by the funds and for all other risks of loss. Settled claims have not exceeded this commercial coverage in any of the past three years. F-32 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 19 - RISK MANAGEMENT (Continued) All funds of the Board participate in the programs and make payments to the Worker's Compensation, Group Insurance and Risk Management Funds based on estimates of the amounts needed to pay prior and current year claims. The claims liabilities reported at September 30, 2008 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 financia,l statements and the amount of the loss can be reasonably estimated. Changes in the claims liability amounts in fiscal year 2008 and 2007 were.- Worker's Group, Risk Compensation._.TI........--- _ Insurance MahPReTent Total __'_ — .......... Balance at September 30, 2006 $1,861,867 $3,09,2,481 $1,501,607 $6,455,955 Current year claims and changes in estimates 1,739,198 12,137,554 289,175 14,165,,927 Claim payments __(1,806,7 _(l 1,588,7§9) 3 -1,7g4,351 3,6 41 266 1,547',490 6,983,107 (13�6 8,77§� Balance at September 30, 2007 Current year claims and changes in estimates 2,135,393 12,150,206 264,153 14,549,,752 Claim payments (2„641,761) __(l 2,146,410) 214,153) (15,002 324 Balance at September 30, 2008 $1,2_67_,983 $3,645,062 $1,597,490 $6,530,535 NOTE 20 - LITIGATION The Board is a defendant in various lawsuits and is involved in other disputes wherein substantial amounts are claimed. In the opinion of the Board, these suits and claims should not result in judgments or settlements, which, in, aggregate, would have a material adverse, effect on the Board's financial condition. NOTE 21 - COMMITMENTS AND CONTINGENCIES Grant Pro gLaM - The County participates in a number of federally assisted grant programs. These programs are subject to financial and compliance audits by the grantors or their representatives,. Arbitrage Rebate - In accordance with the Tax Reform Act of 1986, any interest earnings on borrowed construction funds in excess of the interest costs are required to be rebated to the federal government, As of September 30, 2008, the County has estimated its arbitrage rebate liability to be $303,73,7 for its business-type activities. Impact Fee Refunds - Unexpended or unencumbered funds arising from the collection of impact fees may be refunded within one year following the end of the sixth year from the date on which the impact fee was paid or within three months of the non-commencement of construction. Letter of Credit — The County has issued $30,455,000 Key West International Revenue Bonds, Series 2006 (the Series 2006 Bonds) for the primary purpose of providing funds necessary to finance the acquisition, construction and equipping of certain airport facilities, In order to provide security for the payment when, due of the principal and interest on the Series 2006 bonds, the County has requested the bank to issue its irrevocable direct pay letter of credit naming U.S. Bank National Association as F-33 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2008 NOTE 21 - COMMITMENTS AND CONTINGENCIES (Continued) beneficiary. The letter of credit is for an amount sufficient to pay at a maximum interest rate of 12% per annum. This initial agreement expires on October 15, 2009. Line of Credit — In order to obtain funds to pay unanticipated expendlitures created by a hurricane or similar event, the Board approved a line of credit in the amount of $10,000,0010 from, a bank. There were no borrowings as of September 30, 2008. The line of credit is available for six months after August 8, 2008. All borrowings and unpaid interest must be paid in full on February 8, 2009. Depending on the Couinty's financing activities, the borrowings will bear interest at 0,75% over the LIBOR rate if taxable or 0.80%-1.00% plus 63.7 % of the LIBOR rate if tax-exempt. The letter of credit is secured by a covenant to budget payment from Non Ad Valorem Revenues. After the initial expiration of the line, of credit, the Board has approved two subsequent lines of credit in 2009 and 2010, if the terms are substantially the same. NOTE 22 — SUBSEQUENT EVENT Pursuant to the provisions of Monroe County Resolution 238-C, the County redeemed $2,850,000 of the Airport Variable Rate Revenue Bonds, Series 2006 maturing in 20,33-2035 as described in the table below, FundingSouirce Date Amount_ - FAA December, 20,08 $ 538,219 Passenger Facility Fees December, 20,08 30,,071 Monroe County December, 2008 1,710 Fla. Dept. of Transportation, December, 2008 465,000 Fla, Dept, of Transportation January, 2009 935,000 Fla. Dept, of Transportation February, 2009 880,000 Total $ 2,850,000 The County has begun the construction of a wastewater treatment collection system to service Geiger and Rockland Keys which will require the County to fund $21,000,000 of the costs, The County has secured interim financing through the Florida Rural Utility Financing Commission Revenue Notes. The County intends to obtain permanent financing through the Clean, Water State Revolving Loan Fund program of the Florida Department of Environmental Protection before the maturity date of the interim financing in 2011 F-34 COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES NONMAJO,R 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 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 #11, LOWER AND MIDDLE KEYS To account for revenues and expenditures in District #1 for fire and ambulance services. UPPER KEYS HEALTH CARE SPECIAL TAXING DISTRICT To account for all transportation and hospitalization costs of Monroe County trauma patients in Dade County. UNINCORPORATED AREA SERVICE DISTRICTS To account for all revenues and expenditures for planning, building and zoning and parks and recreation services provided only to the unincorporated area of the County. LOCAL HOUSING ASSISTANCE SPECIAL REVENUE FUND The Local Housing Assistance Fund is used to account for the revenues and expenditures for the administration and implementation of the State Housing Initiatives Partnership Program, MUNICIPAL POLICING To account for all revenues and expenditures for local road patrol law enforcement in the City of Marathon, City of Layton and Islamorada, Village of Islands, 911 ENHANCEMENT FEES To account for fees levied on each telephone access line in Monroe County for the enhancement of the 9,11 emergency telephone system. DUCK KEY SECURITY DISTRICT To account for the revenues and expenditures in providing security services for the Duck Key District. BOATING IMPROVEMENT To account for revenues and expenditures for providing boating-related activities, for removal of vessels and floating structures deemed a hazard to public safety and health, and for manatee and marine mammal protection and recovery. MISCELLANEOUS SPECIAL REVENUE To account for revenues and expenditures earmarked for specific purposes. (Continued) NC?NMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS — CONTINUED ENVIRONMENTAL RESTORATION To account for all revenue and expenditures for fines/fees collected and earmarked for environmental protection, LAW ENFORCEMENT TRUST To account for the funds used for the purpose of training police officers and supporting personnel in the prevention, investigation, detecfion and identification of crime, COURT FACILITY FEES To account for revenues collected upon the institution of any civil action, suit or proceeding to be used exclusively in providing and maintaining existing and future facilities for the use of the Circuit and County Court systems. DRUG ABUSE TRUST To account for assessments colllected for drug abuse programs and to disburse assistance grants for drug abuse treatment and/or educational programs which meet the standards for qualification, of such programs by the Department of Health and Rehabilitative Services. MARATHON MUNICIPAL SERVICE To account for the revenues and expenditures for municipal services for Marathon. WASTEWATER MSTU To account for the revenues and expenditures for wastewater services for Conch! Key, Bay F`6nt, Big Coppitt, Key Largo, Stock lsland, Cudioe-Sugarloaf, Long Key-Layton and Duck Key, BUILDING FUND To account for the revenues and expenditures relating to building permit and related fees and for the administration andi enforcement of the building code for the unincorporated area of the County. COMPREHENSIVE PLAN LAND AUTHORITY To account for the revenues and expenditures for purchasing unbufldable, recreational and conservational property and repackaging the property to meet the land use requirements, rements, SHERIFF'S INMATE COMMISSARY To account for the revenues and expenditures of inmate telephone commissions, canteen revenues and other inmate programs. SHERIFF'S IMPACT SUPPORT To account for the revenues and expenditures relating to the administration of the South Florida Drug & Money Laundering Task Force, SHERIFF'S OFF-DUTY To account for the revenues, expenditures and related reimbursements for law enforcement services provided to other organizations. SHERIFF'S GRANTS To account for the revenues and expenditures relating to various grants. (Continued) NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS — CONTINUED SHERIFF'S TEEN COURT To account for the revenues and expenditures pertaining to a program designed to deter juveniles who are becoming involved in crime, SHERIFF'S SOUTH FLORIDA LAW ENFORCEMENT TRUST To account for the revenues and expenditures pertaining to South Florida Drug & Money Laundering Task Force. SHERIFF'S SHARED ASSET' FORFEITURE To account for the revenues and expenditures of the Sheriff Department's shared asset forfeiture program. SHERIFF'S FEDERAL FORFEITURE To account for the Sheriff's revenues produced from forfeitures and expenditures in the prevention, investigation, detection and identification of crime. SHERIFF'S HID,TA ADMINISTRATIVE To account for the revenues of service fees collected for administering HIDTA grants. Expenditures relate to the costs of administering the grants, SHERIFF'S AIRPORT SERVICES To account for expenditures related to providing security at airports throughout the county. SHERIFF'S LAW ENFORCEMENT TRUST To account for expenditures to non-profit organizations to help deter drug use and juvenile delinquency. SHERIFF'S FINE AND FORFEITURE To account for the proceeds from state forfeitures received primarily from the South Florida Drug and! Money Laundering Task Force. SHERIFF'S INTERAGENCY COMMUNICATIONS To account for revenues and expenditures for interagency communications. SHERIFF'S 911 To account for revenues and expenditures relating to fees levied on every telephone access line in Monroe County for the enhancement of the 911 emergency telephone systems. SHERIFF'S TRAUMA STAR To account for revenues and expenditures for the Sheriff's operation of the Trauma Star helicopter. SHERIFF'S RADIO COMMUNICATIONS FUND To account for revenues and expenditures from Court fees for radio comimun!ications, CLERK'S MODERNIZATION TRUST FUND 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 modernilze the clerk's public records system, (Continued) NONMAJO3R GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS — CONTINUED 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 voter equipment. DEBT SERVICE FUNDS ALL DEBT SERVICE FUNDS To account for accumulation of resources for, and payment of, interest and principal on the long-term debt incurred in the issuance of various revenue bonds. CAPITAL PROJECT FUNDS CLERK'S REVENUE NOTE To account for the Clerk's network system from the Florida Local Government finance Commission Loan.. DUCK KEY WASTEWATER To account for the revenues and expenditures of the wastewater infrastructure for Chuck Key. MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 200'8 SPECIAL Tourist Tourist Affordable Development Development Housing Road & All Districts Admin & Promo Programs Bridge Two Cent Two Cent ASSETS Cash and Cash Equivalents $ 61,828 $ 188,750 $ 740„648 1,079,256 Investments 316,0158 5,123,1109 2,714„226 3,194„139 Accounts Receivable, Net - - 2 1 Due from Other Funds - 145,900 52,328 108,432 Due from Other Governmental Units - 433,2.83 - - MortcgageslNotes Receivable 7,294 - - - Allowance for Mortgages/Notes Receivable ( ,294) - - - Interest Receivable 1,158 19,18 6,980 6,712 Total, Assets $ 379,044 $ 5,910,240 $ 3„514,184 $ 4,388,540 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ - $ 453,167 $ 399,819 $ 513,215 Retainage Payable - 163,800 - Accrued Wages and Benefits Payable - 69,704 646 687 Due to Other Funds - 4„347 7,425 3,268 Due to Other Governmental Units - 129,169 - - Deposits in Escrow - - Deferred Revenues - - - Total Liabilities 820,187 407,890 517,170 Fund (Balances: Encumbrances - 57802 - - Land Acquisition - - - Mortgage Loans - - - - Debt. Service - - - Unreserved, Designated for Beaches - - - Unreserved,, Un esignated 379,044 5,032,251 3,106,294 3,871,370 Total Fund Balances 379,044 5,090,053 3,106,294 3,871,370, Total Liabilities and Fund Balances $ 379,044 $ 5,910,240 $ 3,514,184 $ 4,388,540 G-1 REVENUE FUNDS Tourist Tourist Tourist Tourist Tourist Development Development Development Development Development District ##One District##Two District ##Three District##Four District#Five Imp'e t Fees, Three Dent Three tent Three Dent Three Dent Three Dent Roadways $ 868,354 $ 73,184 $ 1179,894 270,497 $ 178„107 982,844 3„485,438 393„838 6901,053 1,137,941 680,278 5„016,654 40,670 4„576 12,466 11,825 10,902 9,831 1,16 3',657 2,994 3,524 17,2.62. $ 4„464,293 $ 382„724 $ 886',019 $ 1,423,257 $ 872,811 $ 6„016,760 $ 388,399 $ 2„162 $ 15,747 $ 123,2.50,, $ 1,133 $ - 7,782 939 81 81 2,921 W 438 50 115 1108 115 114,744 49 48,851 4,986 76 511,363 3,191 64,794 128,425 4,245 484,578 _ _ 3,408',352 3791,533 821,2.16 1,294,832 868,566 6,016,760 3,892,930 379,533 821,2.16 1,294,832 868,566 6Y9116,766 $ 4,404,293 $ 382,724 $ 886,010 $ 1,423,257 $ 872,811 $ 6,016,760 (Continued) G-2 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET- CONTINUED NONMAJt R GOVERNMENTAL FUNDS SEPTEMBER 30, 2008 SPECIAL Impact Fees, Darks and Impact Fees, Impact Fees, Impact Fees, Recreation Libraries Solid Waste Police Facilities ASSETS Cash and Cash Equivalents $ 131,318 $ 1 ,085 $ 3,263 $ 6,995 Investments 669„254 627,834 16„499 34„986 Accounts Receivable, Net - - - - Due from Other Funds Due from Other Governmental Units - - - - Mortgages/Notes Receivable - - - - Allowance for Mortgages/Notes Receivable - - - - Interest Receivable 2„070 1,991 31 1,062 Total Assets, $ 802,642 $ 752„910 $ 19,793 $ 43,043 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable - $ - $ $ - Retanage Payable 34,268 - Accrued "wA''age and Benefits Payable - - - - Due to Other Funds - - - Due to Other Governmental Units - - - - Deposits in Escrow - - - - Deferred Revenues - - _ Total Liabilities 34,268 - - Fund Balances: Encumbrances - - - - Land Acquisition Mortgage Loans - - - - Debt Service Unreserved, Designated for Beaches - _ - _ Unreserved, Undesignated 768,374 752,910 19,793 43,043 Total Fund Balances 768,374 752,910 19,793 43,043 Total Liabilities and Fund Balances $ 802,642 $ 752,910 $ 19,793 $ 43,043 -3 REVENUE FUNDS Fiire & Amb Upper Preys Unincorp'. Unincerp. Impact Fees„ District#1, Health Care Area Service Area Service Impact Fees, Fair Share Lower and Special District, Dist., Planning Fire & EMS Housing Middle Keys Taxing. District Parks & Rec. Bldg. & Zoning $ 33,186 $ 41,889 $ 1,188 $ 265,904 $ 185,937 $ 55,027 168,908 214,245 2,382,300 1,489,464 1„438,502 4,150,300 - - 371„629 - 3,250 4,150 - 116,486 - - 35,077 30,490 19,841 - 33,898 370�,361 841 370 13,168 6,219 4,248 3,805' $ 202,935 $ 286„994 $ 2,904,612 $ 1,761,587 $ 1,665,835 $ 4a618,720 $ - $ - $ 92,822 $ 2,394 $ 110„200 $ 72,079 - - 259,186 2,723 22,299 13'4,081 _ - - - 18,614 - - 788 - 8,479 19 - 1,932 - 352,796 5,1117 142,910 224,79�3 - - - 44„650 202,935 286,9�94 2,551,816 1,756,470 1,522,925 4,349„277 202,935 286,994 2,551,816 1,756,470 1,522,925 4,393,927 $ 202,935 $ 286,994 $ 2,904,612 1,761,587 $ 1 g6 5,835 $ 4,618,720 (Continued) -4 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET- CONTINUED NONMAJQR GOVERNMENTAL FUNDS SEPTET 'BER 30, 2008 SPECIAL Leal 911 Duck Ivey Housing Miunr cipal Enhancement Security Assistance Policing Fees District ASSETS Cash and Cash Equivalents $ 123,952 $ 399,562 $ 32,763 $ 45,516 Investments 633,316 2,047,705 167,592 232,626 Accounts Receivable„ Net 191,688 - - - Due from Other Funds - 202,127 - 2,114 Due from Other Governmental units - 493 49,510 3 Mortgages/Notes Receivable 6,586,153 _ _ Allowance for Mortgages/Notes Receivable (6,586,153) - _ - Interest Receivable 72,320 6,093 - 740 Total Assets $ 849,276 $ 2,655,980 $ 249,865 $ 280,999 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ 800 $ - $ - $ 3,840 Retaiinage Payable - - - Accrued Wages and Benefits Payable - _ Due to Other Funds _ - 249,41 Due to Other Governmental units 16,927 10 - _ Deposits in Escrow - _ Deferred Revenues - - - - Total Liabilities 17,727 10 249,419 3,840 Fund Balances; Encumbrances - - - - Land Acquisition - - - - Mortgage Loans - - - - Debt Service - - - - Unreserved, Designated for Beaches - _ - - Unreserved, undesignated 831,549 2,655,970 446 277,159 Total Fund Balances 831I,549 2,655,970 446 277,159 Total Liabilities and Fund Balances $ 849,276 $ 2,655,980 $ 2.49,865 $ 280,999 G-5 REVENUE FUNDS Miscellaneous Law Court Drug Boating Speclial Environmental Enforcement Fadhty abuse Improvement Revenue Restoration Trust Fees Trust 235,098 $ 378,288 $ 2116,879 $ 131,661 $ 2.18,815 $ 30,000 1,010,114 1,849,236 1,108,170 672,,858 997,325 134,512 1311,154 _ 17,13 - 3,084 4,970 1,675 2,199 2,942 303 $ 1,248,296 $ 2,363,648 $ 1,326,724 $ 823,854 $ 1,219,082 $ 164,815 $ 18,082 $ 60,578 $ 29 $ - $ 13,415 $ - - 8 1,382 - - - 117 62,599 105 42,340 - - 1,108 313 72 - - 44,295 - - - 19,3017 167,793 1,588 42,340 13,415 - 4,650 - - 35,257 1,228,98'9 2,191,205 1,325,136 781,514 1,1700410 164,815 1„228,989 2„195,855 1,325,136 781,514 1,205,667 164,815 $ 1,248„296 $ 2„363„648 $ 1,326,724 $ 823',854 $ 1,2119,082 $ 164,8'15 (Continuled) -6 M ONROE COUNTY, FLORIDA COMBINING BALANCE SHEET- CONTINUED NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2048 SPECIAL Marathon Conch Ivey Bay Paint Big Ccppitt Municipal Wastewater Wastewater Wastewater Service MSTU MSTU MSTU ASSETS Cash and Cash Equivalents 7,176 - $ 16,566 $ 56�613 Investments 36, 1 - 84„768 289,296 Accounts Receivable, Net - _ _ - Due from Other Funds 3 15,233 Due from Other Governmental Units - 518 Mortgages/Notes Receivable - _ _ - Allcwance for Mortgages/Notes Receivable - - - Interest Receivable 7,761 - 560 8,696 Total Assets 51,611 - 101,894 370,350 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable - - - - Retainage Payable - _ - - Accrued `Wages and Benefits Payable 96 - 320 2,626 Due to Other Funds - - - 110,389 Due to Other Governmental Units _ - - Deposits in Escrow - Deferred Revenues - _ - - Total Liabilities 96 - 320 113,015 Fund Balances: Encumbrances - _ - - Land Acquisition - - - - Mortgage Loans - - - - Debt Service - - - - Unreserved, Designated for Beaches - - - - Unreserved, Undesignated 51,515 - 101,574 257,335 Total Fund Balances 51,515 - 191574 257,335 Total Liabilities and Fund Balances $ 51,61.1 - 101,894 370,350 G-7 REVENUE FUNDS Key ILargo Cudjioe- Long Key, Wastewater Stook Island Sugarloaf Conch Key Layton Duck Key MISTLI Wastewater MSTLI MSTU MSTU MSTU $ 153,888 $ 63,833 $ 52,334 $ 1,235 $ 6,003 $ 23,189 786,036 326,268 267,474 6,140 30,548 1118,586 33 507 6 _ - 1,836 43 6 _ 5 7„03'1 921 1,034 11 18 2,913 $ 947,031 $ 391,535 320,848 7,386 36,659 $ 146,529 210,462 $ _ $ _ $ - $ $ - 2,6411 641 1,329 161 358 641 - 13,125 22 _ _ _ - 213,125 641 1,329 161 358 13,766 306,371 - - - - - 42.7,53'5 390,84 319,519 7,225 36,301 132,763 733,906 390,894 319,519 7,225 36„ 01 132,763 $ 947,031 $ 391,535 $ 320,848 $ 7,386 $ 36„659 $ 146,529 (Contln ued) -8 IN ONROE COUNTY, FLORIDA COMBINING BALANCE SWEET- CONTINUED NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2008 SPECIAL. Comprehensive Sheriff's, Sheriff's Building Plan Land Inmate Impact Fund Authority Commissary Support ASSETS Cash and Cash Equivalents $ 184,982 $ 8,995„791 $ 534,226 - Investments 837,945 - - Accounts Receivable, Net - 196 48,117 _ Due from Other Funds - 253,508 5,466 - Due from Other Governmental) Units - 12,668 - 12,531 Mortgages/Notes Receivable - 6,740,579 - - Allowance for Mortgiages/Notes Receivable - - - - Interest Receivable 1,132 - - - Total Assets $ 11,624„959 $ 16,002,742 $ 587,743 $ 12„531 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ 33,572 $ 1,683 $ 42,571 $ - Retainage Payable - - - Accrued 'Wages and Benefits Payable 89„714 8„269 - Due to Other Funds - - 13,655 12,531 Due to Other Governmental Units 4,193 - - - CDeposits in Escrow - _ - - Deferred Revenues 6,564 - - - Total Liabilities 134,043 9,892 55,626 12,531. Fund (Balances: Encumbrances - - - Land Acquisition 2,154,271 - - Mortgage Loans - 6,740,579 - - Debt Service - - - - Unreserved, Designated for Beaches _ - - Unreserved, Undesiginated 890,616 7,098,000, 532,117 - Total Fund Balances 890,016 15,99 ,850 532,117 - Total Liabilities and Fund Balances $ 1,024,059 $ 16„062,742 $ 587,743 $ 12,531 G-9 REVENUE FUNDS Sheriff's Sheriff s South Florida Shared Sheriff's ISheriff s Sheriff's Sheriffs Ls1w Enforce- Asset Federal Off-Duty Grants Teen Court mienit Trust Forfeiture Forfeiture $ $ $ - $ 1,306,716 $ 5,0414,147 1„218,763 3,284 - - - - 431 687,162 42,009 19,665 - 870 254,829 4,979 $ 4,585 $ 941,991 46,979 $ 1,316,7811 $ 5,014,147 $ 1,211118,763 $ - $ _ $ _ $ 7,615 $ 1109,832 $ 63,101 4„585 718,906 46,979 15 - 14,164 - - - 142„088 - - 657,580 _ _ _ 4,585 1,376„486 46,979 149,718 109,832 77,205, - (434„495) - 1,167,063 4,904,315 1„141,558� - (434,495) - 1,167,0,63 4,904,315 1,141,558 $ 4„585 $ 941,991 $ 46,979 $ 1,316,781 $ 5',014,147 $ 1,218,763 (Continued) -19 NM ONROE COUNTY, FLORIDA. COMBINING BALANCE SHEET- CONTINUED NONIMAAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2008 SPECIAL Sheriff's Sheriff s Sheriff's Sheriff's N-IIDTA Airport Law Enforce- Fine Administrative Services meat Trust Forfeiture ASSETS Cash and Cash Equivalents - - 1,438 17,324 Investments - - - - Accounts Receivable, Net - - - - Due from Other Funds 144,1195 90,532 42,340 188 Due from Other governmental Units - - - - Mortgages/Notes Receivable - - - Allowance for Mortgages/Notes Receivable - - - Interest Receivable - - - - Total Assets 144,195 90,532 43,778 17„512 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable - 1,250 $ 376 Retainage Payable - - - - Accrued Wages and Benefits Payable - - - - Niue to Other 'Funds - 90,532 2,528 17,136 Due to Other governmental Units 2,784 - 40,000 - Deposits in Escrow - - - _ Deferred Revenues - - - - Total Liabilities 2,784 90,532 43,778 17,512 Fund Balances: Encumbrances - - - - Land Acquisition Mortgage Loans - - - Debt Service - - - - Unreserved, Designated for Beaches - _ _ - Unreserved, Undesignated 141,411 - - - Total Fund Balances 141,411 - - - Total Liabilities and Fund Balances $ 144,195 90,532 43,778 17,512 g-11 REVENUE FUNDS Sheriffs Sheriffs Sheriffs Clerk's Clerk's Interagency Shieriiff s Trauma Radio Modernization Court Communications 911 Star Communications Trust belated $ 1,212,693 $ 1,136, 53 $ 158,889 $ 130,974 632,826 $ 11,507,210 683 - _ 162,780 258,084 - - - 1,564 25,126 $ 1„376,156 $ 1,394,637 $ 158,889 $ 130,974 $ 632,826 $ 1,533,900 $ 16„304 $ 3„419 $ - $ - $ 1,063 $ 156,747 1,764 5,197 158,889 130,974 - 594,788 57'8,365 - - - - - 204,000 18,068 8,616 158,889 130,974 1,063 1,533„900 1,358,088 1,386,0211, 631,763 1,358,088 1,386,021 - - 631,763 - $ 1„376,156 $ 1,394,637 $ 158,889 $ 130,974 $ 632,826 $ 1,5 3,900 (Continued) G-12 MONROE COUNITY, FLORIDA COMBINING BALANCE SHIIEET'- CONTINUED NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2008, Supervisor's Total Nonmajor All Debt Voter Educ, & Special Rev Service Equipment Funds Funds ASSETS Cash and Cash Equivalents 17„662 29,734,719 287„351 Investments - 45,491,272 3,718,0919 Accounts Receivable, Net - 451,000 - Due from Other Funds - 2,607,000 _ Due from Other Governmental Knits - 1,249,454 - Mortgages/Notes Receivable - 13,334,026 - Allowance for MIortgages/Notes Receivable - (6,593,447) - lnterest Receivable - 230,674 1,576 Total Assets 17,662 86,504,698 4,007,026 LIABILITIES AND FUND BALANCES Liabilities; Accounts payable - 2,919,126 6 - Retainage 'Payable - 198,068 - Accrued Wages and Benefits payable - 609,256 - Due to Other Funds - 2,324„557 - Due to Other Governmental Units - 1,093„034 - Deposits in Escrow - 1,932 - Deferred Revenues. - 912„439 - Total Liabilities - 8,058,4112 - Fund Balances: Encumbrances - 448,730 - Land Acquisition - 2,154,271 - NMorlgage Loans - 6,749,57'9 - Debt Service - - 4„007„02.6 Unreserved„ Designated for Beaches - 484,578 - Unreserved, Undesignated 17,662 68,618,128 - Total Fund! Balances 17,662 78,446,286 4,007,02.6 Total Liabilities and Fund Balances 17,662 86,504,698 4,007,026 G-13 CAPITAL PROJECT FUNDS Total Clerk's Gluck Key Nonmaj r Revenue Wastewater Governmental Note Project Funds 15,869 $ 90,157 $ 30,128,096 81,094 460,644 49,751,1''+0 9 - 451,000 _ 1114,272 2,721,272 - 1,249,454 - 13,334,026 - - (6,593,447) 265 - 232,515 $ 97,228 $ 665,073 $ 91,274,025 $ - $ 740,410 $ 3,659,536 - 198,068 - 609,256 - 2,324,557 - 1,093,034 ti 1,932 - 912,439 40,410 8,798,822 W 448,730 - 2,1154,271 _ - 6,740,579 _ - 4,967,026 _ 484,578 97,228 (75,337) 68,640,0119 97,228 (75,337) 82,475,203 $ 97,228, '$ 665',073 $ 91,274,025 G-1'4 MIObNROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES NONMAJGR GOVERNMENTAL FUND FOR THE YEAR ENDED SEPTEMIBER 30, 2008 SPECIAL Tourist Tourist. Affordable Development. Development Housing Road & All Districts Admin & Promo Programs Bridge Two Cent Two Cent Revenues: Taxes - 1,436,807 $ 3,256,307 $ 6a747,711 Licenses and Permits - - v - Intergovernmental - 3,572,319 - - Charges for Services - 85,542 _ - Fines and Forfeitures - - - _ Investment Income 12,645 329„483 100,361 123,329 Miscellaneous - 53,771 140 - Total Revenues 12,645 8,477,922 3,356,808 6,871,040 Expenditures: Current: General Government - - - - Public Safety Physical Environment - - - - Transportation - 5,638,910 - - Economic Environment - - 3,1 Ill 1,697 6,404,381 Huiman Services - - - - Culture and Recreation Court Related - - Capital Projects - - - Debt Service - - - - Total Expenditures _ 5,638,910 3,111„697 6,404, 81 Excess/Deficiency of Revenues Over/(Under) Expenditures 12,645 (160,988) 245,111 466,659 Daher Financing Sources/(Uses): Transfers from Daher Funds - 145,900 52,327 108,432 Transfers to Other Funds - (795,666) (134,673) ( 03,204) Debt Issuance - - - Total Other Financing, Sources/(Uses) (649,766) (82,346) (94,772) Net Change in Fund Balances 12,645 (810,754) 162,765 371,887 Fund Balances-October 1 366,399 5,900,807 2,943,529 3,499,483 Fund Balances-September 30 $ 379,044 $ 5,090„053 $ 3,106,294 $ 3,871,370 C-15 REVENUE FUNDS Tourist Tourist Tourist Tourist Tourist Development Development Development Development Development District #tine District#'Two District#Three District#Four District #Rve lmpact Fees, Three Cent Three Cent Three Cent Three Cent Three Cent Roadways 2„747,813 280,224 6348445 649„434 690,094 _. 130,934 12,533 32,214 41,905 34,371 198„186 - - - 104,178 2„878,747 292,757 666„659 691,339 724,465 302,364 2,38 ,839 314,306 675,409 488,249 972„654 - 2,385,839 3114, 06 675,409 488,249 972„654 - 492,908 (2.1,549) (8,750) 203,090 (248,189) 302,364 40„670 4„576 12„406 11,825 10„902 - (73,810) (10,970) (19,184) (18,523) (19„714) - (33,140) (6„394) (6,778) (6,698) (8,8112) - 459,768 (27„943) (15, 28) 196,392 (257,001) 302,364 3,433,162 407,476 836,744 1,098,440 11,125,567 5,714„396 3,892,930 379,533 821,216 1,,294,832 868,566 6,0116„760 (Continued) -16 IM ONROE COUNTY, FLORIDA, COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND M ALANCE -CONTINUED NONMAJOIR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2008 SPECIAL. Impact Fees, Parks and Impact Fees, Impact Fees, Impact Fees, Recreation Libraries Solid Waste Police Facilities Revenues: Taxes - - - _ Licenses and Permits - _ - Intergovernmental - - - Charges for Services - - Fines and Forfeitures - - - - Investment Income 26,775 24,326 460 8,229 Miscellaneous 38,080 31,618 14,408 31,508 Total Revenues 64,855 55,944 14,868 39,737 Expenditures: Current: General Government - - - - Public Safety - - _ 236,250 Physical Environment - - - - Trans portation - - - _ Economic Environment - - - _ Human Services - - - - Culture and Recreation - - - - Court Related - - - - CapitaI Projects - - - - Debt Service - - - - Total Expenditures - - 236„250 Excess/Defi ciency of Revenues Over/(Under) Expenditures 64,855 55,944 14,868 (196,513) Other Financing Sources/(Uses): Transfers from tither Funds - - - - Transfers to Other Funds - - - - Debt Issuance - - - - TotaM Other Financing Sources/(Uses) Net Change in Fund Balances 64„855 55,944 14,868 (196„513) Fund Balances-October 1 703,519 696,966 4,925 239,556 Fund Bala nces-Septernber 30 768,374 752,910 19„793 43,043 G-17 REVENUE FUNDS Fire &Arab Upper Keys Unincorp, UnJncorp, Impact Fees, District#1, Health Care Area Service Area Service Impact Fees, Fair Share Lower and Special District, Dist., Planning Fire & EMS Housing Middle Keys Taxing District Parks & Rec. Bldg. & Zoning $ $ $ 6,873,510 $ $ 974,495 $ 1,707,740 63,399 517,608 4,643,532 426,065 47,459 749,756 - - 110,413 7,696 7,473 159,242 64,616 60,,548 151,640 20,034 132,173 5,978 1,424 22,102 33,505 27,730 139,646 7,528,194 66,040 1,622,212 7,396,5816 - - - - - 2,130,153 80,765 7,679,935 1,591,288 - 479,408 53,655 - - 264,350 - 1,366',582 801,765 53,655 7,679,935, 264,350 1,366,582 4,200,849 (53,035) 85,991 (151,741) (198,310) 255,630 3,195,737 - 116,486 - 31,735 (797,646) (25,519) (93,045) (111,509,922) - (681,160) (25,519) (93,045) (1,478,187) (53,035) 85,991 (832,901) (223,829) 16,2,585 1,717,550 255,970 201,003 3,384,717 1,980,299 1,360,340 2,676,377_ $ 202,935 286,994 $ 2,551,81116 $ 1,756,470 $ 1,522,925 4,1393,927 (Continued) G-18 MIONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUNNY BALANCES-CONTINUED NGNMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2008 SPECIAL Local 91`1 Duck Key Housing Municipal Enhancement Security Assistance Policing Fees District Revenues: Taxes - 3,915„541 Licenses and Permiits - - - Intergovernmental 368,981 - - - Charges for Services - 3,175„477 510,765 - Fines and Forfeitures - - - - Investment Income 78,446 91,081 5,958 9,614 Miscellaneous 347,03 - - 73,995 Total Revenues 794,462 7,182,099 516,723 83,609 Expenditures: Current:. General Government - - - - Public Safety - 736„356 - 47,325 Physical 'Environment - - - - Transportation - - - Economic Environment 2„756,30 - - Human Services - - - - Culture and Recreation - - - - Court 'Related - - - - Capital Projects - - - - Debt Service - - - - Total Expendiitures 2,76,330 76,356 - 47,325 Excess/Deficiency of Revenues Over/(Under) Expenditures (1,961,868) 6„445,743 5116,723 36,284 Other Financing Sources/(Uses): Transfers from Other Funds - 202,127 - 2,114 Transfers to Other Funds - (6,200,890) (568,109) (4,204) Debt Issuance - _ - Total Other Financing Sources/(Uses) - (5,998,763) (568,109) (2,090) Net Change in Fund Balances (1,961,868) 446„980 (51, 86) 34,194 Fund Balances-October 1 2,793,417 2„208,990 51,832 242,965 Fund Balances-September 30 S 831,549 2,655,970 446 277,159 G-1'9 REVENUE FUNDS Miscellaneous Levi Court Drug Boating Special Environmental Enforcement Faciility abuse Improvement Revenue Restoration Trust Fees Trust 281,106 524,188 465,660 - - 369,319 35,178 - 339,575 663,680 - _ - 38,567 71,502 4'1„193 25,114 39,679 4,702 999 4,225 - - - - 56,3,685 909,068 704,873 25,114 408,998 39,886 - 3'6,058 - 399„8114 - 101,953 _ - 211,627 33„981 _ - - - - 284,959 - - 271„679 - 399„814 566,625 101,953 A 271,670 - 163,871 342,443 692,929 25,114 137,328 39,880 - 130,974 - 107,136 - - _ (29 ,648) _ (103,93 ) (42,80 ) - - (162,674) - 3,201 (42,800) - 163,871 179,769 6012,920 28,315 94,528 39,880 1,065,118 2,016,086 722,216 753,199 1,111,139 124,935 1„228„989 2,195,855 1,325„136 781,514 1„2615„667 1164,815 (Continued) G-29 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND, CHANCES IN FUND BALANCES-CONTINUED NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2008 SPECIAL Marathon Conch Key Bay Point Big Coppitt Municipal Wastewater Wastewater Wastewater Service MSTU MSTU MSTU Revenues: Taxes 275 - 2 116,737 Licenses and Permiits - - - Intergovernmental - Charges for Services - - - Fines and Forfeitures - _ - - Investment Income 23,449 14 4,633 51,156 Miscellaneous - - - - Total Revenues 23,724 14 4,635 167,893 Expenditures: Current. General Government - - - - Public Safety - _ - _ Physical Environment 289,729 _ 3,6 101 145,925 Transportation _ - - - Economiic Environment - - - - Human Services - - - Culture and Recreation - - _ - Court Related _ - - Capital Projects - - - Debt Service - - - - Totall Expenditures 289,729 - 3,610 145,925 Excess/Deficiency of Revenues Over/(Under) Expenditures (266,005) 14 1,025 21,968 Other Financing Sources/(Uses): Transfers from Other Funds 3 - - 2,198 Transfers to Other Funds (489) (2,087) - (4,193) Debt Issuance - Total Other Financing Sources/(Uses) (486) (2„087) (2,085) Net Change in Fund Balances (266,491) (2,073) 1,025 19,883 Fund Balances-October 1 318,006 2,073 100,549 237,452 Fund Balances-September 30 51,515 - 191„574 257,335 G-21 REVEN'U!E FUNDS Key Largo Cudjoe- Long Key, 'wastewater Stock gland Sugarloaf Conch Key Layton Duck Key MSTU Wastewater MSTU MSTU MSTUI MSTU $ 1,563 $ 363 $ 402 $ - $ $ 110,571 54,236 12,509 11,217 281 1,304 16,661 - 55,387 - - - - 55,799 68,259 11,619 21 1,304 127„232 771,011 21,458 25,959 1,302 3,708 69,449 771,011 21,458 25,959 1,302 3,708 69,449 (715,212) 46,801 (14,340) (1„021) (2,404) 57,783 33 507 6 2,087 W - (161) (11,043) (55) - - � (128) (536) (49) 2,087 - - (715,340) 46,265 (14,380) 1,066 (2,404) 57,783 1,449,246 344,629 333,908 6„159 38,705 74,080 733,906 390,894 319,519 $ 7,225 $ 36,301 $ 1132,763 (Uontllnued) -22 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES-CONTINUED NONMA»JOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 3 ', 2008 SPECIAL Comprehensive Sheriffs Sheriff's Building Plan Land Inmate Impact Fund Authority Commissary Support Revenues: Taxes $ - $ $ _ - Licenses and P'ermiits 2,857,685 _ _ - Intergovernmental - 2,937,454 - 206,131 Charges for Services 10,437 - 387,784 - Fines and Forfeitures - - - - Investment Income 27,086 152,331 12,651 - Miscellaneous 9,449 35,161 801,355 - Total Revenues 2,904,651 3,124,946 480,190 206,131 Expenditures: Current General Government - 3,279,560 - - Public Safety 2,3114,635 - 348,631 266,131 Physical Environment - - - - Transportation - - - - Economic Environment - - - - Human Services - - - - Culture and Recreation - - - - Court Related - - - - Capital Projects - - - - Debt Service - - - - Total Expenditures 2,314,635 3,279,560 348,631 206,131 Excess/Deficiency of Revenues Over/(Under) Expenditures 590,016 (154,614) 131,559 - Other Financing Sources/(Uses): Transfers from Other Funds - 15,394 - - Transfers to Other Funds - - - - Debt Issuance - - - - Total Other Financing Sources/(Uses) - 15,394 - Net Change in Fund Balances 590,016 (1139,220) 131,559 - Fund Balances-October 1 300,066 16,132,070 460,558 - Fund Balances-September 30 $ 896,016 115,992,850 532,117 - G-23 REVENUE FUNDS Sheriff s Sheriff s South Florida Shared Sheriffs Sheriff's Sheriff's Sheriff's Law Enforce- asset Federal Off-Duty Grants Teen Court went Trust Forfeiture Forfeiture 189,661 4811,189 - 191,799 - 35,56'5 20,722 40 41,230 - _ - 5,575 - 49,401 207,301 35„318 210,383 486,804 41,230 241,200 207,301 70,883 210,383 957,963 106,155 799,320 202,206 307,616 210„383 957,963 106,155 799,32.0 202,206 307,616 - (471,19) (64,925) (558,120) 5,095 (236,733) 325,518 64„925 - - - 325,518 64,925 - - (145,641) - (558,120) 5,095 (236,73 ') (28'8,854) - 1,725,183 4,899,220 1,378,291 m (434,495) _ $ 1,167,063 4,904,315 1,141,558 (Continued) G-'24 M iNROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES-CONTINUED NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTE'M 3ER 30, 2008 SPECIAL Sheriff's Sheriff's Sheriff's Sheriff s HIOTA Airport Laver Enforce- Fine Administrative Services ment Trust Forfeiture Revenues: Taxes _ - $ - $ Licenses and Permits - - -Intergovernmental - 1,509,807 - - Charges for Services 279,313 - - - Fines and Forfeitures - - 155„641 Investment Income - - 1,306 Miscellaneous - - _ - Total Revenues 279,313 1,509,807 - 156,947 Expenditures: Current: General government - - - - Public Safety 288,956 1,509,8017 163,934 49,811 Physical Environment - - - - Transportatiion - - - - Economic Environment - - - - H'uman Services - - - - Cultuire and Recreation - - Court Related - - - - Capital Projects - w - - Debt Service - - Total Expenditures 288„956 1,509,807 1103„934 49„811 Excess/Deficiency of Revenues Over/(Under) Expenditures (9,643) (103,934) 107,136 Other Financing Sources/(Uses): Transfers from Other Funds - - 103,934 - Transfers to Other (Funds - - - (107,136) Debt. Issuance - - - - Total Other Financing Sources/(Uses) - - 163,934 (11, 7,136) Net Change in Fund Balances (9,643) - - - Fund Balances-October 1 151,054 - - - Fund Balances-September 34 141,411 $ - $ - - -25 REVENUE FUNDS Sheriff"s Sheriff s Sheriff's Clerk's Clerk's Interagency Sheriff's Trauma Radio Modernization Court Communications 911 Star Communications Trust Related - - - _ - 704,675, 100„607 - _ - 277,401 1,457,426, - _ _ _ - 1,401,642 37,912 28,201 - - 5,304 992 138,519 28,201 - - 282„705 3,564,735 776,949 255,400 1,152,085 301,245 - 616,334 3„909,570 776,949 255,400 1,152,085 301,245 616,334 3,9019,570 (638',430) (227,199) (1,152,085) (301,245') (333,629) (344,835) 318,058 568',109 1,310,974 432„219 - 939,577 - - (15'8,889) (130,974) - (594,742) 318,058 568',109 1„152„085 301,245 344,835 (320,372) 340,910 - - (3'33,629) - 1,678,460 1,045,111 - - 965,392 - " ' 1,358,088 1,386,0121 $ $ _ 631,763 - (Continued) G-2 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES-CONTINUER NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2008 Supervisor's Total Nonmajor All [debt Voter Educ. & Special Rev Service Equipment Funds Funds Revenues: Taxes - $ 30,144,034 - Licenses and Permits - 2,885„791 - Intergovernmental 9„043 15,431,163 634,900 Changes for Services - 8,964,369 Fines and Forfeitures - 2,670�,951 - Investment Income 42 2,6711,036 77,961 Miscellaneous - 1,095,516 - Total Revenues 9,085 63,862,860 712,861 Expenditures: Current: General Government 51, 55 5,461,268 - Public Safety - 20,299,204 - Physicall Environment _ 2,313,326 - Transporttion - 5,638,910 - Economic Environment - 17„162„520 - Human Services - 475,977 - Culture and Recreation - 1,400,563 - Court Related - 5,082,533 - Capital Projects - - - Debt Service - - 4,368,550 Total Expenditures 511,555 57,834,301 4,368,550 Excess/Deficiency of (Revenues Over/(Under) Expenditures (42,470) 6,028„559 (3,655,689) Other Financing Sources/(Uses): Transfers from Other Funds 1,356 5,062,418 4,144,245 Transfers to Other Funds - (11,915231) - Debt Issuance _ - 3,096,504 Total Other Financing Sources/(Uses) 1,36 (6,852,813) 7,240,749 Net Change in Fund Balances (41,114) (824,254) 3,585,060 Fund Balances-October 1 58�776 79,270,540 421,966 Fund Balances-September 30 17,662 78,446,286 4,007,026 G-27 CAPITAL PROJECT FUNDS Total Clerk's Duck Ivey Nenme)er Revenue Wastewater Governmental Note Project Funds - $ 30,144,034 - 2„885,791 - 16,066,063 - - 8,964,369 2,670,951 3,243 6,300 2,758,540 658,772 1,754,288 3,243 665,072 65,244,036 - 5,461,268 m - 20,299,204 - 2,3113, 26 - 5,63'8, 10 - 17,162„520 - 475,977 m - 1,400,563 - 5,082„533 - 740,409 740,409 W - 4,368,550 - 740,409 62,943„260 3,243 (75,337) 2,300,776 - - 9,206,663 - (11,915,231) - 3„096,504 - 387„936 3„2'43 (75,337) 2,688,712 93,985 _ 79,786,4911 $ 97,228 (75, 37) 82,475,203 -28 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, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 14,006 $ 14,00O $ 12,645 $ (1,355) EXPENDITURES: Current: Economic Environment: Affordable Housing Initiatives 257,576 257,576 - 257,576 Excess/Deficiency of Revenues Over/(Under) Expenditures (243,576) (243,576) 12,645 256,221; Other Financing Sources/(Uses): Reserve for Contingencies (23,408) (23,408) - 23,408 Net Change in Fund Balances (266,984) (266,984) 12,645 279,629 Fund Balances, October 1 2616,984 266,984 366,399 99,415 Fund Balances, September 30 $ - $ - $ 379,044 $ 379,044 G-29 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, 200,8 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Revenues: Taxes $ 1,338,001 $ 1,338,001 1,436,807 98,806 Intergovernmental 3,3 0,000 3,350,000 3,572,319 222,319 Charges for Services 3,997 3,997 85,542 81,5145 Investment Income 100,000 100,000 329,483 229,483 Miscellaneous' 56,001 56,001 53,771 (2,230) Total Revenues 4,847„999 4,847,999 5,477,922 629,923 Expenditure : Current: Transportation: Road Department 3,188,110 3,187,336 2,564,732 622,604 County Engineer Road and Bridge 836,241 780,851 470,780 310,071 Street Lighting 2.14,862 245,862 245,405 457 Local Option Gas Tax Projects 205,000 205,000 163,005 41,995 80% Gas Tax 2,284,687 2,498,113 2,194,988 303,125 In-House Projects 400,000 400,000 - 400„000 Islarnorada Roads 454,256 5,08,929 - 508„929 Total Transportation 7,583,156 7,826,091 5,638,910 2,187,181 Total Expenditures 7,583,156 7,826,091 5,638,910 2,187„181 Excess/Deficiency of Revenues Over/(Under) Expenditures 2,735,15D 2,978,0192) (1 608 2„817„104 Other Financing Sources/(Uses): Reserve for Contingencies (581,768) (296,750) - 296,750 Transfers from Other Funds - 147,560, 145,900 (1,660) Transfers to Other Funds (606,023 (795,666) ,66) - Total Other Financing Sources/(Uses) (1„18'7,7911) (944,856) (649,766) 295,090 Net Change in Fund Balances (3,922,948), (3,922,948) (810,754) 3,112,194 Fund Balances', October 1 3,922,948 3,922,948 5,900,807 1„977„859 Fund Balances', September 30 $ - $ - $ 5,090,053 $ 5,090,053 G-30 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, ALL DISTRICTS, T'Ilh1O CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 'variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes ' 3,031,000 3,031,000 3,256,307 225,307 Investment Income - - 100,361 100,361 Miscellaneous - - 140 10 Total Revenues 3„031,000, 3,031,000 3„356,808 325,808 EXPENDITURES: Current: Economic Environment: Cultural Umbrella 721,538 721,538 534„503 187,035 Fishing Umbrella 703,000 703,000 579,698 1123,302 Dive Umbrella 400,000 400,000 390,004 9,996 Operations - Events 11,416,721 1,4116,721 1,,206,883 209,838 Catastrophic Emergency 807 833 8017,833 - 807,833 Special Projects 798,741 798,741 400,609 398,132 Total Expenditures 4,847,833 4,847,833 3,111,697 1„736,1136 Excess/Deficiency of Revenues Over/(Under) Expenditures (1,816,833) (1,816,833) 245,111 2,061,944 Other Financing Sourcesl(Uses); Transfers from Other Funds - 52, '27 52,327 Transfers to Other Funds (158,346) (158,346) (134,673) 23,673 Total) Other Financing Sources/(Uses)- (158,346) (158,346) (82,346) 76,000 Net Change in Fund l Balances (1,975,179) (1,975,179) 162,765 2,137,94 Fund Balances, October t 1,975,179 1,9175,179 2,943,529, 968,350 Fund Balances, September 30 - 3„106„294 3,106294 G-31 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, 2008 Variance with Find Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 6,300,000 $ 6,300,000 $ 6,747,711 $ 447,711 Investment Income - - 123,329 123„32.9 Total Revenues 6,306,000 6,300,666 6,871,040 571,040 EXPENDITURES: Current:. Economic Environment: Advertising and Promotion 4,395,488 4,395,488 4,186,200 209,288 Administrative Services 708„971 7018,071 677„839 30,232 Catastrophic Emergency 1,261,837 1,261,837 - 1,261,837 Special Projects 1,706,89 1,706,895 1,540,342 166,463 Total Expenditures 8,072,201 8,672,261 6,464„381 1,667,820 Excess/Deficiency of Revenues Cover/(Under) Expenditures 1,772,201) (1,772„201) 466,659 2,238,860 Other Financing Sources/(Uses): Transfers from Other Funds - _ 108,432 108,432 Transfers to Other Funds (213,616) (213,616) (203,204) 10,412 Total Other Financing Sources/(Uses) (213,616) (2.13,616) (94,772) 118,844 Net Change in Fund Balances (1,985,817) (1,985,817) 371,887 ,357,704 Fund Balances, October 1 1,985,817 1,985,817 3,499,483 1,5'1 ,666 Fund Balances, September 30 $ - $ - $ 3,871,370 3,871,379 C-32 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT#ONE, THREE CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30,, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 2,489,000 $ 2,489,000 $ 2,747,813 $ 258,813 Investment Income - - 130,934 130,934 Total Revenues 2,489,000 2,489,000 2,878,747 389,747 EXPENDITURES: Current: Economic Environment: Advertising and Promotion 850,100 850,100 848,169 1,93,1 Administrative Services 88,167 88,167 8,4,891 3,276 Catastrophic Emergency 226,748 226,748 - 226,748 Special Events 129,309 129,309 127,309 2,000 Bricks and Mortar 2,924,0991 2,924,099 1,075,107 1,848,992 Information Services 250,463 250,463 250,363 100 Beaches 343,450, 343,4501 - 343,450 Total Expenditures 4,812,336 4,812,336 2,385,,839 2,426,497 Excess/Deficiency of Revenues Over/(Under) Expenditures (2,323,336) (2,,323,336) 492,908 2,816,244 Other Financing Sourcesl(Uses): Transfers from Other Funds 40,670 40,670 Transfers to Other Funds (75,202 (75,202) (73,8 1 O 11,392 Total Other Financing Sources/(Uses) 5,20 (75,202) (33,140) 42,062 Net Change in Fund Balances (2,398,538) (2,398,538) 459,768 2,858,306, Fund Balances, October 1 2,398,538 2,398,538 3,433,162 1,034,624 Fund Balances, September 30 $ - $ - $ 3,892,930 $ 3,892,930 G-33 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANIGES IN FUND BALANCES - BUDGET AND ACTUIAL TOURIST DEVELOPMENT, DISTRICT TWO, THREE CENT SPECIAL REVENUE FUND FOR THE YEAR ENIDED SEPTEMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 2.64,000 $ 264,000 $ 280,224 $ 16,224 Investment Income - - 12,533 12,533 Total Revenues 264,060 264,000 292,757 28,757 EXPENDITURES: Current: Economic Environment: Advertising and Promotion 194,680 194,680 193,632 1,048 Administrative Services 9,817 9,817 9,467 350 Catastrophic Emergency 33,393 33,393 - 33,393 Special Events 5,000 5,000 5,000 - Bricks and Mortar 193,910 193,9101 45,648 148,262 Information Services 60,559 60,559 60,,559 - Total Expenditures 497,359 497,359 314,306 183,053 Excess/Deficiency of Revenues Over/(Under) Expenditures (233,359) (233,3,59) (21,549) 211,810 Other Financing Sources/(Uses): Transfers from Other Funds - 4,576 4,576 Transfers to Other Funds (11,1 26)� (111,126 10,970) 156 Total Other Financing Sources/(Uses) (11,126) (11,126) (6,394� 4,732 Net Change in Fund Balances (244,485) (244,485) (27,943) 216,542 Fund Balances,, October 1 244,485 244,485 407,476 162,991 Fund Balances, September 30 $ - $ - 379,533 $ 379,533 G-34 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT#THREE, THREE CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual, (Negative) REVENUES: Taxes $ 637,000 $ 637,000 $ 634,445 $ (2,555) Investment Income - - 32,214 32,214 Total Revenues 63,7„000 637,000 6166,659 291,659 EXPENDITURES: Current: Economic Environment: Advertising and': Promotion 299,,387 299,387 298,420 9'67 Administrative Services 26,542 26,542 21,768 4,774 Catastrophic Emergency 63,95,7 63,957 - 63,957 Special Events 110,922 110,922 96,500 14,422 Bricks and Mortar 484,105 484,105 138,721 345,384 Information Services 120,000 120,000 120,000 - Total Expenditures 1,104,913 1,104,913 675,409, 429,504 Excess/Deficiency of Revenues Over/(Under) Expenditures 467,91113) (467,913) (817501 459,163 Other Financing Source,sl(Uses): Transfers from Other Funds, - - 12,40'6 12,406 Transfers to Other Funds (19 (19,553) ,553) (11 9,184) 369 Total Other Financing Sources/(Uses) (19,553) (1,9,553) _J6,7 8�7 12,775 Net Change in Fund Balances (487,466) (487,,466) (15,528) 471,938 Fund Balances, October 1 487,466 487,466 836,744 349,278_ Fund Balances, September 30 $ - $ - $ 821,216 $ 821,216 G-35 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT#FOUR, THREE CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPT EMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budlget Actual (Negative)_ REVENUES: Taxes $ 609,0100 $ 609,000 $ 649,434 $ 40,434 Investment Income - - 41,905 41,905 Total Revenues 609,000 609,000 691,339 82,339 EXPENDITURES: Current: Economic Environment: Advertising and Promotion 306,261 306,261 301,130 5,131 Administrative Services 27,126 27,126 20,197 6,929 Catastrophic Emergency 80,782 80,782 - 80,782 Special Events 109,706 109,706 24,238 85,468 Bricks and Mortar 504,806 504,806 32,684 472,122 Information Services 110,0100 110,000 110,000 - Total Expenditures 1,138,681 1,138,681 488,249 650,432 Excess/Deficiency of Revenues Over/(Under) Expenditures (529,681) 29,681) 203,090 732,771 Other Financing Sourcest(Uses): Transfers from Other Funds 11,825 11,825 Transfers to Other Funds (18,866) (18,866) (18,523) 343 Total Other Financing, Sources/(Uses) (18,866) (18,866) 6 69 12,168 Net Change in Fund Balances (548,547) (548,547) 196,392 744,939 Fund Balances, October 1 548,547 548,547 1,098,440 549,893 Fund Balances, September 30 $ - $ - $ 1,294,832 tG 1,294,832 G-36 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT#FIVE, THREE CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative)_ REVENUES: Taxes $ 662,000 $ 662,000 $ 690,094 $ 28,094 Investment Income - - 34,371 34,371 Total Revenues 662,000 662,,0010 724,465 62�,465 EXPENDITURES- Current: Economic Environment: Advertising and Promotion 641,362 641,362 637,996, 3,366 Administrative Services 39,148 39,148 5,039 34,109 Information Services 125,000 125,,000 125,000 - Catastrophic Emergency 58,844 58,844 - 58,,844 Special Events 87,619 87,619 24,885 62,734 Bricks and Mortar 446,571 446,571 179,734 266,837 Total Expenditures 1,398,544 1,398,544 972,654 425,890 Excess/Deficiency of Revenues Over/(Under) Expenditures (736,544) (736,544) (248,189) 488,355 Other Financing Sources/(Uses): Transfers from Other Funds 10,902 10,902 Transfers to Other Funds (20,083) 20,083) (19,714) 369 Total Other Financing Sources/(Uses) (�20,083) (20,0832_ (8,812) 11,271 Net Change in Fund Balances (756,627) (756,627) (257,001I) 499,626 Fund Balances, October 1 756,627 756,627 1,,125,567 368,94,0_ Fund Balances, September 30 - $ - 868,566 868,566 G-37 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - ROAIU'It"hIAYS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 200 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 143,000 $ 143,000 $ 1198,186 $ 55,186 Miscellaneous 111,000 111„000 104,178 (6,822) Total Revenues 254,000 254,000 302,364 48„364 EXPENDITURES: Current: Transportation: Fair Share Improvement Dist 1 419,798 419,798 - 419,798 Fair Share Improvement Dist 2 971,1136 541,136 - 541,136 Fair Share Improvement Dist 3 3„466,914 3„466,914 - 3,466„914 Fair Share Improve Key Colony Beach 38,759 38,759 - 38,759 Truman Bridge Ped Bridge - 430,000 - 430,000 Total Expenditures 4,896,6 17 4,896,607 - 4,896,667 Excess/Deficiency of revenues Over/(Under) Expenditures (4,642,667) (4,642,607) 302„364 4,944,971 Other Financing Sources/(Uses): Transfers to ether Funds ,5 (439,52 - 430,528 Net Change in Fuind Balances (5,073,135) (5,073,135) 302,364 5,375,499 Fund Balances„ October 1 5,0773„135 5,073,135 5,714,396 641,2.611 Fund Balances, September 30 $ - $ - 6,016,760, $ 6„016,760 -38 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, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative)_ REVENUES: Investment Income $ 29,000 $ 29,000 $ 26,775, $ (2,225) Miscellaneous 45,5010 45,500 38,O80 (7,420) Total Revenues 74,500 74,500 64,855 (9,645)' EXPENDITURES: Current: Culture and Recreation: District 1 Projects 87,341 87,341 87,341 District 2 Projects 259,903 259,903 259,903 District 3 Projects 403,273 403,273 403,273 Tottal Expenditures 750,517 750,517 - 750,517 Excess/Deficiency of Revenues Overl(Under) Expenditures (676,017) (676,017) 64,855 740,872 Net Change in Fund Balances (676,017) (676,017) 64,855 740,,872 Fund Balances, October 1 676,017 676,017 703,519 27,5012 Fund Balances, September 30 $ $ $ 768,374 $ 768,374 G-39 M ONlROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES _ BUDGET AND ACTUAL IMPACT FEES - LIBRARIES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMIBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 15,000, $ 15,000, $ 24,326 $ 9,326 Miscellaneous 45,000 45,000 31,618 1�2) Total Revenues 60,000 60,000 55, 44 (4,056) EXPENDITURES, Current: Culture and Recreation; County Wide Library Projects 749,889 749,889 - 749,889 Excess/Deficiency of Revenues Over/(Undler) Expenditures 6�89) 689,889) 55„944 745,833 Net Change in Fund Balances (689,889) (689,889) 55,944 745,833 Fund Balances, October 1 689,889 689„889 696,966 7,077 Fund Balances, September 30 - - 752,910, 752,910 -40 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�, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 2,00�0 $ 2,000 $ 460 $ (1,540) Miscellaneous 9,000 9,000 14,408 5,408 Total Revenues 11,000 11,000 14,868 3,868 EXPENDITURES: Current: Physical Environment: County Wide Solid Waste Projects 14,970 14,970 14,,970 Excess/Deficiency of Revenues Over/(Under) Expenditures (3,970) (3,970) 14,868 18,838 Net Change in Fund Balances (3,970) (3,970) 14,,868 18,838 Fund Balances, October 1 3,970 3,970 4,925 955 Fund Balances, September 30 $ - $ - $ 19,793 $ 19,793 G-41 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, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative)_ REVENUES: Investment Income $ 100 $ 1,000 $ 8,,229 $ 7,229 Miscellaneous 20,000 20,000 31,5018 11,508 TotaU Revenues 20,,100 21,000 39,737 18,737 EXPENDITURES: Current: Public Safety: County Wide Police FaciRy 19,647 247,529 236,,250 11,279 Excess/Deficiency of Revenues Over/(Under) Expenditures 453 (226,5292., f 196,5,13) 30,016 Net Change in Fund Balances 453 (226,529) (196,513) 30,016 Fund Balances, October 1 (453) 226,529 239,556 13,027 Fund Balances, September 30 $ - $ - $ 43,043 $ 43,043 G-42 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, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 6,900 $ 6,900 $ 7,696 $ 796 Miscellaneous 13,100 13,100 20,034 6,934 Total Revenues 20,000 20,000 27�730 7,730 EXPENDITURES: Current: Public Safety: District 1 Fire & EMS Project 61,038 110,848 64,152 46,696 District 2 Fire & EMS Project 10,838 18,925 14,076 4,849 District 3 Fire & EMS Project 106,980 122,575 2,537 11120,038 Key Colony Beach Fire & EMS 14,630 22,622 - 22,622 Total Expenditures 193,486 274,,970 80,765 194,205 Excess/Deficiency of Revenues Over/(Under) Expenditures (173,4,86) .... ...... (254,970) .......... K53,035) 201,935 Other Financing Sources/(Uses): Reserve for Contingencies - (75,55,2) 75,552 Net Change in Fund Balances (173,486) (330,522) (53,035) 277,487 Fund Balances, October 1 173,486 330,522 255,970 (74,552) Fund Balances, September 30 $ $ - $ 202,935 202,935 G-43 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, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative)_ REVENUES: Investment Income $ 500 $ 5010 $ 7,473 $ 6,973 Miscellaneous 2,000 2,000 132,173 130J73 Total Revenues 2,500 2,500 139,646 137,146 EXPENDITURES: Current: Economic Environment: District 1 Employee Fair Share Hsg 34,774 - 34,774 District 3 Employee Fair Share Hsg 115,774 53,655 62,119 Total Expenditures, - 150,548 53,655 96,893 Excess/Deficiency of Revenues Over/(Under) Expenditures 2,500 (148,048) 85,991 234,039 Other Financing Sources/(Uses): Reserve for Contingencies (170,248) (19,700) - 19,700 Net Change in Fund Balances (167,748) (167,748) 85,991 253,739 Fund Balances, October 1 167,748 167,748, 201,003 33,,255 Fund Balances, September 30 $ - $ - $ 286,994 $ 286,994 G-44 l' ONR AE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FIRE AND AMBULANCE DISTRICT #1 - LOWER AND MIDDLE KEYS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes 7,21117,963 7,245,537 6,873,510 (372„027) Intergovernmental 28„500 44,612 63,399 18,787 Charges for 'Services 360,000 417,956 426,065 8,109 Investment Income 225,000 144,888 159„242 14,354 Miscellaneous - 5,348 5,978 630 Total Revenues 7,831,463 7,858,341 7,528,194 (330,147 EXPENDITURES: Current: Public Safety: Fire Rescue - Central 2,263,713 2,590,100 2,564,826 25,2.74 Louver & Middle Keys Ambulance Dist 4,31,038 5,122„516 5,115,109 7,401 Total public Safety 6,614,751 7,712,6110 7,6 79,935 32,675 Excess/Deficiency of Revenues Over/(Under) Expenditures 1,216,712 145,731 151,741! � 9�7„'472) Other Financing Sources/(U'ses): Reserve for Contingencies (1,785,211) (1,259,958) - 1,259,958 Transfers from tither Funds - 85,000 116„486 31,486 Transfers to Other Funds (1„104,076) 83 797, 46) 33,824 Total Other Financing Sources/(uses) (2,889 287) 2,006,428) 1,160) 1,325,268 Net Change in Fund Balances (1,672,575) (1,860,697) (832„901) 1,027,76 Fund Balances, October 1 1,672,575 1,860,697 3,384,717 1,524,020 Fund. Balances, September 30 - _ 2,551,816 2,551,816 -45 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL UPPER KEYS HEALTH CARE SPECIAL TAXING DISTRICT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Final Budget Orig!ina,l Final Positive Budget Budget Actual (Negative)_ REVENUES: Investment Income $ 7'0,000 $ 70,000 $ 64,616 $ (5,384) Miscellaneous - - 1,424 1,424 Total Revenues 70,000 70,000 66,040 3,960�) EXPENDITURES: Current: Human Services: Trauma District Administration 203,636 203,636 1811,457 22,179 Trauma Transportation and Treatment 544,241 544,241 81,9143 462,298 Trauma Pretransport�ation 147,879 147,879 950 146,929 Trauma Facility Upgrade 400,000 400,000 - 400,000 Total Human Services 1,295,756 1,295,756 264,350 1,031,406 Excess/Deficiency of Revenues Over/(Under) Expenditures (1,225,756) 1,225,75 198,310) 1,027,446 Other Financing Sources/(Uses): Reserve for Contingencies (1 0,0�00) (10,000) 10,000 Transfers to Other Funds (28,100) (28,100) (25,519) 2,581 Total Other Financing Sources/(Uses) (38,1i00) (38,100) (25,519) 12,581 Net Change in Fund Balances (1,263,856) (1,263,856) (223,829) 1,0140,027 Fund Balances, October 1 1,263,856 1,263,856 1,980,299 716,443 Fund Balances, September 30, $ - $ 1,756,470 $ 1,756,470 G-46 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 SEPTEIMPIBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes 1,010,407 $ 1,010,407 $ 974,495, $ (35,912) Intergovernmental 500,000 500,000 517,608 17„608 Charges for Services 35„000 35,000 47„459, 12,459 Investment Income 65,000 65,000 60,5'48 (4,452) Miscellaneous 25,000 25,000 22,1102 (2,898) Total Revenues 1,635,407 1,635,407 1,622,212 (13,195) EXPENDITURES: Current: Culture and Recreation: Parks & Beaches Unincorporated 1,477,530 1,339,859 1,1117,638 222,221 Jacob"s Aquatic Center 225,000 225,000 225„00'0 - School Board Interlocal 130,000 10,000 23„944 106„056 Total Expenditures 1,832,530 1,694,859 1,366,582 328,277 Excess/Deficiency of Revenues Over/(Under) Expenditures 197,123) 5�� ?) 255,630 315,082 Other Financing Sources/(Uses): Reserve' for Contingencies (315,421) (453„0912) - 453,092 Transfers to Other Funds (93,05) (93,045) (93,045) - Total Other Financing Sources/(Uses) (408,466) (546,137) (93,045) 453,092 Net Change in Fund Balances (605,589) (605,589) 162,585 768,174 Find Balances, October t 605,589 605,589 1,360,340 754,751 Fund Balances, September 30 $ - $ - $ 1,522,925 $ 1,522,925 0-47 MONRt E 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, 20018 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Tara $ 1,590,200 $ 1,590,200 $ 1,707,740 $ 117,540 Intergovernmental 4,500,000 4,500,000 4,643,532 143„532 Charges for Services 631,826 631,826 749,756 1117„930 Fines and Forfeitures 80,000 80,000 110,413 30,413 Investment Income 200,000 200,000 151,640 (48,360) Miscellaneous 20,000 20,000 33,505 13,505 Total Revenues 7,022,026 7,022,026 7,396,586 374„560 Expenditures: Current: General Government: Growth Mgmt County Attorney 243,017 2.43,017 239,852 3,165 Planning department 1,391,153 914,304 878„368 35,936 2010 Comprehensive Plan 321,750, 269,607 74,655 194,952 GIS 272,109 249,109 181,933 67,176 Planning Commission 95,933 95,933 88,345 7,588 Growth Mgmt Administration 1„811,565 1,802,965 648,100 1,154,865 Planning and Building Refunds 2,000 19,008 118„900 108 Total General Government 4,137, 27 3„593,943 2,130,153 1,463,790 Public Safety: Code Enforcement 1,007,019 942, 96 894,006 48,390 Fire & Rescue Coordinator 647,526 454,3911 400„265 54„126 Fire Marshall 291,193 297,832 297„017 815 Total Public Safety 1,945,738 1,694,619 1,591,288 103,331 Physical Environment: Pump-Out Vessel 63,426 68,263 64,638 3,625 Environmental Resources 335,427 335,250 330,017 5,233 Marine (Resources 88„729 87,899 84,753 3,146 Total Physical Environment 487,582 4911,412 479„408 12,004 Total Expenditures 6,570„847 5,779„974 4,200,849 1,579,125 Excess/Deficiency of Revenues Giver/'(Under) Expenditures 451,179 1,242,052 3,195,737 1„953,685 (Continued) G-48 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, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative ) Other Financing Sources/(Uses): Reserve for Contingencies (525,407) (533,006) - 533,006 Transfers from Other Funds - - 31,735 31,735 Transfers to Other Funds (767,497) (1,550,771) (1,509,922) 40,849 Total Other Financing Sources/(Uses) 1,292„904) 083,777) �1,473„137 605,590 Net Change in Fund Balances (8411,725) (841,725) 1,717,550 2,559,275 Fund Balances, October 1 841,725 8411„725 2,676,377 1,834„552 Fund Balances, September 30 - - $ 4,393,927 4,393,927 C-49 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES I FUND BALANCES - BUDGET AND ACTUAL LOCAL HOUSING ASSISTANCE FOR THE ""FEAR. ENDED SEPTEMBER 30, 200 Variance with Final Budget Origiinal Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental 350,000 350,0010 S 368,981 $ 18,981' Investment Income 50,0010 129,000 78,446 (50,554) Miscellaneous 100,000 610,000 347,035 (262,965) Total Revenues 500,000 1,089 000 794,462 (294,538) EXPENDITURES: Current: Economic Environment: Down Pymt,Disaster Mitigation,Rehab 06 1106,267 526,791 526,490 301 Down Pyrnt„Disaster Mitigation,Rehab 07 601,988 489,375 489,375 - Dawn Pymt,Disaster Mitigation,Rehab 08 918,312 1,658,821 1,133,438 525,383 Rental Rehab 06 333,441 324,794 316,679 8115 Rental Rehab 07 150,000 113,164 95,788 17,376 Rental Rehab 08 - 29,,853 29,853 - SHIP Fair Housing 07 5,000 5,000 - 5,000 SHIP Fair Housing 08 5„000 5,000 5,000 SHIP Fair Housing 09 5,000 - - - Administration 016 148,646 1148,646 148,646 Administration 08 90,047 1127,50 - 17,505 Administration 07 208,526 208,526 16,061 192,465 Total Expenditures 2„572,227 3,637,475 2,756,330 881,145 Excess/Deficiency of Revenues Over/(Under) Expenditures (2,072,227) (2,548,475) (1,961,868) 586,607 Other Financing Sources/(Uses): Reserve for Contingencies 06 (10,000) (10,000) 10,000 Reserve for Contingencies 07 (10,000) (10,000) - 10,000 Reserve for Contingencies 08 10,0001� 10,000 10,000 Total Other Financing Sources/(Uses) 330�009)� 0,000 - 30,000 Net Change in Fund Balances (2,102,227) (2,578,475) (1,961,868) 616,607 (Fund Balances, October 1 2,102,227 2,578,475 2,793,417 214,942 Fund, Balances, September 30 - - 831,549 831,549 G-50 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANCES IN FUND BALANCES - BUDGET AND ACTUAL MUNICIPAL POLICING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Final! Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes 4,096,654 4,096,654 3,915„541 (181,113) Charges for Services 3,000,000 3,000,000 3,175,477 1175„477 Investment Income 75,000 75,000 91,081 16,081 Miscelianecus - 2,000 - (2,000) Total Revenues 7,171,654 7„173„654 7,182„099 8,445 EXPENDITURES:. Current: Public Safety: Insurance Unincorporated & Layton 480„190 436,301 423,453 12,848 Insurance Isiamorada '199,550 187,588 166,720 20,868 Insurance Marathon 1,81,903 182,611 1146,183 36,428 Sheriff Unincorporated & Layton 82,144 - - - Sheriff lslamorada 37,840 - - - School Crossing guard 6,714 776 - 776 Total Public Safety 988,341 807,276 736,356 70,920 Excess/Deficiency of Revenues Over/(Under) Expenditures 6,1183,313 6,366,378 6,445,743 79,365 Other Financing Sources/(Uses): Reserve for Contingencies (1,250,987) (1,421,087) - 1„421,087 Transfers from Other Funds - - 202,127 202,127 Transfers to Other Funds (6,222,579) (6,235„544) (6,200„890) 34,654 Total Other Financing Sources/(Uses) (7,473,566) (7,656,631) (5, 98,763) 1,657„868 Net Change in Fund Balances (1290,253) (1,290,253) 446,980 1,737,233 Fund Balances, October 1 1,290,253 1,290,253 2,208,990 918,737 Fund Balances, September 30 - - 2„655,970 2,655,970 G- 1 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL 911 ENHANCEMENT FEES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Final Budget. Original Final positive Budget Budget Actual (Negative) REVENUES: Charges for Services 643,500 643,500 510,765 (132,735) Investment Income 6„500 6,500 5,956 (542) Total Revenues 650,000 650,000 516,723 (1133,277) Other Financing Sources/(Uses): Transfers to Other Funds (617„500) (617,500) (568,109) 49,391 Net Change in Fund Balances 32,500 32,500 (51,386) (83,886) Fund Balances, October 1 (32,5010) (32,500) 51,632 64,3,32. Fund Balances, September 30 - - 446 446 G-52 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, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income 5,000 5,000 9,614 4,614 Miscellaneous 74,000 74,0100, 73,995 Total Revenues 79,000 79,000 83„6019 4,609 EXPENDITURES; Current: Public Safety: Island Security 146,000 146,000 47,32.5 98,675 Excess/Deficiency of Revenues Over/(Under) Expenditures (67,000) ( 7,000) 36,284 103,284 Other Financing Sources/(Uses): Reserve for Contingencies (35,000) (35„000) - 35,000 Transfers from Other Funds - - 2,114 2,114 Transfers to Other Funds 10,0002 (10,000) (4,204) 5„796 Total Other Financing Sources/(lases) (45',000) (4 ,000) (2 0902 42,910 Net Change in Fund Balances (112,000) (112,000) 34,1194 146,194 Fund Balances, October 1 112,000 112,000 242,965 130,965 Fund Balances, September 30 - - 277,159 277,159 0-53 MONIROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BOATING IMPROVEMENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEF IBER 30, 2008 Variance with Final Budget. Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services 460,000 460,000 524,188 64,188 Investment Income 35,000 35,000 38,507 3,507 Miscellaneous - - 990 990 Total l Revenues 495,000 495,000 563,685 68,685 EXPENDITURES: Current: Physical Environment: Boating lmiprovement 870„250 870,250 300,814 470,436 Excess/Deficiency of Revenues Over/(Under) Expenditures (375,250) (375,250) 163„871 539,121 Other Financing Sourcest(Uses): Reserve for Contingencies (100,000) (100,000) - 100„000 Net Change in Fund Balances (475, 50) (475,250) 163,871 630,121 Fund Balances, October 1 475,250 475,250, 1„065,118 5801,868 Fund Balances, September 30 - - 1,228,989 1,228,989 0-54 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, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative)_ REVENUES: Licenses and Permits $ - $ - $ 28,106 $ 28,106 Charges for Services - 292,193 465,660 173,467 Fines and Forfeitures - 227,427 339,575 112,148 Investment Income - 47,000 71,502 24,502 Miscellaneous - 3,650 4,225 575 Total Revenues - 570,270 909,068 338,798 EXPENDITURES: Current: Public Safety: Education-Building Department 7'1,16,8 71,168 36,058 35,110 Human Services: FL Keys Council for the Handicapped! 661 661 411 250 Bayshore Donations 772 772 - 772 Traffic Educ, Ord 021-2002 249,523 249,523 164,838 84,685 Legal Aid - 46,378 46,378 - Total Human Services 250,956 297,334 211,627 85,707 Culture and Recreation: Settler's Park Landscaping 11,460 11,460 788 10,672 Higgs Beach Dog Park - 3,65,0 3,650 - Library Special Programs 22,911 34,337 29,543 4,794 Total Culture and Recreation 34,371 49,447 33,981 15,466 Court Related: Alt Dispute Resolution - Civil 25,984 25,984 12,869 13,1115 Ord 016-20014 St Court Sup 128,756 175,,134 18,085 157,049 SA Ct Tech FS28.24(12)(E) 381,983 414,,863 - 414,863 PID Ct Tech FS28.24(12)(E) 155,,073 176,993 65,,867 111,126 J Ct Tech FS28.24(12)(E) 536,638 591,438 1188,138 403,300 Total Court Related 1,228,434 1,384,412 284,9'59: 1,099,453_ Total Expenditures 1,584,929 1,802,361 566,625, 1,235,736 Excess/Deficiency of Revenues, Over/(Under) Expenditures (1,584,929) (1,232,0191,) 342,443 1,574,534 (Continued) G-55 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, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Other Financing Sources/(Uses): Reserve for Contingencies (391,398) (391,398) - 3911,398 Transfers from Other Funds - 130,974 130,974 Transfers to Other Funds (352,838) 293,648) 59,190 Total Other Financing Sources/(Uses) 391 398 '744,236) 1( 62,674 581,56 Net Change in Fund Balances (1,976,327') (1,976„327) 179,769 2,156,096 Funds Balances, October 1 1„976„327 1,976,327 2„016,0186 39,759 Fund Balances, September 30 - - 2,195,855 2,195,855 -56 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, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative_ REVENUES: Fines and Forfeitures $ 11501,000 $ 150',000 $ 663,680 $ 513,680 Investment Income - - 41,1193 41,,193 Totail Revenues 150,000 150',000 704,873 554,873_ EXPENDITURES: Current: Physical) Environment: Environmental Restoration 625,000 328,113 98,953 229,160 KLWT Plant Site Mitgi Pro - 292,838 3,000 289,838 Total Environmental Restoration 625,000 6201,951 101,953 518,9918 Excess/Deficiency of Revenues Over/(Under) Expenditures (475,000) (470,951) 602,920 1,073,871 Other Financing Sources/(Uses): Reserve for Contingencies (88,083) (88,083) - 88,083 Transfers to Other Funds (4,0491) 4,049 Total Other Financing Sources/(Uses) (88,083), 92,ll K)_ - 92,132 Net Change in Fund Balances (563,083) (563,083) 602,920 1,166,003 Fund Balances, October 1 563,083 563,083 722,216 159,133 Fund Balances, September 30 $ - $ 1,325,136 $ 1,325,1136 G-57 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LAW ENFORCEMENT TRUST SPECIAL REVENUE FUND FOR THE YEAR ENDED SIEPTEMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ _ $ - 25,114 $ 25,114 Other Financing Sources/(Uses): Reserve to Contingencies - (63,038) - 63,038 Transfers from Other Funds - 107,136 107,1136 - Transfers to Other Funds (719,183) (763,281) (�103,935) 659„346 Total Other Financing curcesl(Uses) (71g,18'3) (719,153) 3,201 722,384 Net Change in Fund Balances (719,1183,) (719,183) 28,315 747„498 Fund Balances, October 1 719,183 719,1183 753,199 34,016 Fuind Balances, September 30 $ - $ - $ 781,5114 $ 781,514 0-58 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 SEPTEMMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services 366,000 $ 360,000 $ 369,319 $ 69,3119 Investment Income 65,0100 65,000 39,679 (25,32.1) Total Revenues 365,000, 365,000 408,998 43,998 EXPENDITURES. Current: Court Related: Court Facility 1,2010,000 1„140,336 271,670 868,666 Excess/Deficiency of Revenues Over/(Under) Expenditures 83 ,000) 775,336 137,328 912,664 Other Financing Sources/(Uses): Deserve for Contingencies (46,277) (46,277) - 46,277 �Transfers to tither Funds - 59,664_) (42„800) 16,864 Total tither Financing Sources/(Uses) �46,2771 (105,941 42�0 63,141 Net Change in Fund Balances (881„277) (881,277) 94,528 975,805 Fund Balances, October 1 881,277 881,277 1,111,139 229,862 Fund Balances, September 30 $ W $ - $ 1,205,667 $ 1,2 h5,667 -59 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, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services 20,0100 20,000 35,178 15,178 Investment Income 1,000 1,000 4,702 3,7012 Total Revenues 21,000 21,000 39,880 18„880 EXPENDITURES: Current Human Services: Drug Abuse Trust Fund 100,000 100,000 - 100,000 Excess/Deficiency of Revenues Over/(Under) Expenditures (79,000) ,000) 39,880 118,880 Other Financing Sourcesl(Uses): Reserve for Contingencies (39,950 (39,950) - 39,950 Net Change in Fund Balances (118,9501) (118,950) 39,880 158,830 Fund Balances, October 1 118,950 118,950 124,935 5,985 Fund Balances, September 30 - - 164,815 164,815 G-50 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, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 100 $ 271 $ 275 $ 4 Investment Income 500 22,922 23,449 527 Total Revenues 600 2.3,193 23,74 531 EXPENDITURES. Current: Physical Environment: Marathon Wastewater 213,380 339,039 289,729 49,310 Excess/Deficiency of Revenues Over/(Under) Expenditures (212m780) (315,846) (266,005) 49,841 Other Financing Sourcesl(Uses): Reserve for Contingencies (25,560) - - - Tranfers from Other Funds - 3 3 Transfers to Other Funds (5,000) (1,000) (489) 511 Total Other Financing Sources/(uses) (30„560) (1,00�0) (486) 514 Net Change in Fund Balances (243„340) (316,846) (266,491) 50,355 Fund Balances, October 1 243„340 316„846 318,006 1„160 Fund Balances, September 30 - $ - $ 51,515 $ 51,,515 G-61 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CINCH KEY WASTEWATER (MUNICIPAL SERVICE TAXING UNIT SPECIAL IREVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 200,8 Variance with Final l Budlget. Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 50 $ 50 $ 1 $ P6 Other Financing Sources/(Uses): Deserve for Contingencies (2,087) _ - Transfers to Other Fuinds _ 2�) 2,087 Total Other Financing Sources/(Uses) (2 ,087 2,0 Net Change in Fund Balances (2,037) (2,037) (2,073) ( .8) Fund Balances, October 1 2„037 2,037 2,073 35 Fund Balances, September 30 $ - $ - $ - $ G-62 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES INI FUND BALANCES . BUDGET AND ACTUAL RAY POINT' IMUNICIIPAL SERVICE TAXIING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEIM BER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negiative) REVENUES: Taxes 50 $ 50 $ 2 $ (48') Investment Income 500 500 4,633 4,133 Total Revenues 550 550 4,635 4,085 EXPENDITURES: Current: Physical Environment. Bay Point Wastewater 83,693 83,693 3,610 80,083, Excess/Deficiency of Revenues Over/(Under) Expenditures (83„143) _ (83�) 1,,025 84,168 Other Financing Sources/(Uses): Reserve for Contingencies (9,620) (9„620) - 9�620 Transfers to Other Funds (2,886) (2,886) - 2,886 Total. Other Financing Sources/(Uses) (12,506) (12,506) w 12,506 Net Change in Fund Balances (95,649) (95,649) 1,025 96,674 Fund Balances, October 1 95,649 95,649 100,549 4,90�0 Fund Balances, September 30 $ _ $ - $ 101,574 $ 101,574 G-63 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BIG COPPIT'T MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 127,775 $ 127,775 $ 116,737 $ (11,038) Investment Income 5,000 5,000 511,156 46,156 Total Revenues 132,775 132,775 167,893 35,118 EXPENDITURES: Current: Physical Environment: Big Coppitt Wastewater 224,975 224,975 145,925 79,050 Excess/Deficiency of Revenues Over/(Under) Expenditures (92,200) (92,200) 21,968 114,168 Other Financing Sources/(Uses): Reserve for Contingencies (81,108) (81„108) - 81,108 Transfers from Other Funds - - 2,108 2,108 Transfers to Other Funds (5,000) (5,000) (4,193) 807 Total Other Financing Sources/(Uses) (86,108) (86„108) (2,085) 84,023 Net Change in Fund Balances (178,308) (178,308) 19,883 198,191 Fund Balances, October 1 178,308 178,308 237,452 59,144 Fund Balances, September 30 $ - $ - $ 257,335 $ 257„335 -64 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, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes 100 100 1,563 1,463 Investment Income 5,000 5,000 54„236 49„236 Total Revenues 5„100 5,100 55,799 50,699 EXPENDITURES: Current: Physical Environment: Key largo Wastewater 1,086,185 1,086,185 771,011 315,174 Excess/Deficiency of Revenues Over/(Under) Expenditures 1,081,0 (1,081,085) (715,212) 365,873 Other Financing Sources/(Uses): Reserve for 'Contingencies (126,243) (12.6,243) - 126,243 Transfers from Other Funds - - 33 33 Transfers to Other Funds (50,000) ( 01000) �1 1) 49,839 Total tither Financing Sources/(Uses) (176„24 ) (176,243) (128) 176,115 Net Change in Fund Balances (1,257„328) (11,257„328) (715,340) 541,988 Fund !Balances, October 1 1,257,328 1,257,328 1,449,246 191,918 Fund Balances, September 30 - - 733,906 733„906 to-65 MONROE COUNTY, FLORIDA. SCHEDULE OF REVENUES„ EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL STOCK ISLAND WASTEWATER SPECIAL (REVENUE FUND FOR THE YEAR ENDED SEPTEIMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes 100 100 363 263 Investment Income 5,000 5,000 12,509 7,509 Miscellaneous - - 55„387 55,387 Total Revenues 5,100 5,100 68,259 63,159 EXPENDITURES. Current: Physical Environment: Stack Island Wastewater 322,581 302,520 13,883 288,637 Stack Island Cap Fee Refund - 36,953 7,575 29,378 Total Physical Environment 322,581 339,473 211,458 318,015 Excess/Deficiency of Revenues Over/(Under) Expenditures (317,481) (334,373) 46,801 381,174 Other Financing Sources/(Uses): Reserve for Contingencies (36,9�53) (20,061) - 20,061 Transfers from Other Funds - 4 50�7 507 Transfers to Other Funds 10,000 (10,000) 1 n043. 8„957 g ( ) � , � (536) 29,525 Total Other Financing Sources/'Uses 46 953 30,0611 Net Change in Fund Balances (364,434) (364,434) 46,265 410,699 Fund Balances, October 1 364,434 364,434 344,629 (19,805) Fund Balances, September 30 - - 390,894 390„894 G-66 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CUDJOE-SUGARLOAF MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, �08 Variance with Final Budget Original Final Positive Budget Budget Actual l (Negative REVENUES: Taxes $ 199 $ 100 $ 402 $ 3012 Investment Income 5,000 5,999 11,2.17 5,217 Total Revenues 5,100 5,199 11„619 5,519 EXPENDITURES: Current: Physical Environment: Cuw.udgae-Suugarloaf Wastewater 290,987 290,987 25,959 265,028 Excess/Deficiency of Revenues Over/(Under) Expenditures (285,887) (285,887) (14„340) 271,547 Other Financing Sourcest(Uses): Reserve for Contingencies (33,443) (33,443) - 33,443 Transfers from, Other Funds - _ 5 5 Transfers to Other Funds 10,000 1�0p, f5� 9,945 Total Other Financing Sources/(Uses) (43,443) (43,443) 49) 43,394 Net Change in Fund Balances (329,330) (329,330) (14„389) 314,941 Fund', Balances, October 1 329,330 329,330 333,908 4,578 Fund Balances, September 30 $ - $ - $ 319,519 $ 319,5191 C-57 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CONCH KEY MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE ENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Find Budget Original Final Positive Budget Budget Actual (Negative REVENUE'S: Taxes 100 100 - (100) Investment Income 100 100 281 11 Total Revenues 200 200, 281 81 EXPENDITURES: Current: Physical Environment: Conch Key IMIISTU! 5,626 7,718 1,802 6,411 Excess/Deficiency of Revenues Over/(Under) Expenditures (5,426) (7,513) (1,021) 6,402 Other Financing Sources/(Uses): Reserve for Contingencies (625) (625) - 625 Transfers from, tither Funds - 2,087 2„07 - Total Other Financing Sources/(Uses) (625) 1,462 2,087 625 Net Change in Fund 'Balances (6,051) (6,051) 1,066 7,117 Fund Balances, October 6,051 6,051 6,159 108 Fund' Balances, September 30 - - 7,225 7,225 G-68 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANCES IN FUND BALANCES - BUDGET AND ACTUAL LONGKEY-LAYTON MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Final) Budget Originals Final Positive Budget Budget Actual (Negative)_ REVENUES: Taxes 100 166 (1100) Investment Income 100 100 1,304 1,204 Total revenues 260 20O 1,304 1,104 EXPENDITURES: Current: Physical Environment: Long Key-LaytonWastewater 31„868 31,808 3,708 28,100 Excess/Deficiency of revenues Overl(Ulnder) Expenditures (31,608) (31,608) 2 29,264 Other Financing Sources/(Uses): Deserve for Contingencies (3,656) (3,656) w 3,656 Transfers to Other Funds 11,097 �f1,097� - 1,697 Total Other Financing ourcesd(Uses) (4,753) (4,753) - 41753 Net Change in Fund Balances (36,361) (36,361) (2,404) 33,957 Fund Balances, October 1 36,361 36,361' 38,765 2,344 Fund Balances, September 30 - - 36,301 36,361 -69 MONR DE 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, 20018 Variance with Final Budget. Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes 115,239 115,239 1101,571 (4,668) Investment Income 4,,00f O 4,000 16,661 12,661 Total) Revenues 119,239 119,239 1.27,232 7,993 EXPENDITURES: Current: Physical Environment: Duck Key Wastewater 126,403 126,403 69,449 56„954 Excess/Deficiency of Revenues Over/(Under) Expenditures (7,164) (7,164) 57,783 64„947 Other Financing Sources/(Uses): Deserve for Contingencies (14,529) (14,529) - 14„529 Transfers to Other Funds (4,359) (4,359) 41359 Total) Other Financing Sources/(Uses) (18,888) (18,888) - 18,888 Net Change in Fund Balances (26,052) (26,052) 57,783 83„835 Fund Balances, October 1 26,052 26,052 74,980 48„928 Fund Balances, September 30 - - 132„763 132,763 C-79 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BUILDING FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Final Budget Original Final' Positive Budget Budget Actual (Negative) REVENUES: Licenses and. Permits 2,650,000 2,650,000 2,857,685 207,685 Charges for Services 1I6,500 16,500 10,437 (6,063) Investment Income 11 0,000 10,000 27„080 17,080 Miscellaneous 1,000 1,000 9,449 8,449 Total Revenues 2,677,500 2,677,500 2,904,651 227,151 EXPENDITURES: Current: Publlic Safety Building Department 2,348,844 2,342„667 2,311I„236 31,431 Building Refunds 2,000 3,399 3„39 - Total Public Safety 2,350,844 2,346,066 2,314,635 31,431 Excess/Deficiency of Revenues Over/(Under) Expenditures 326,656 331,434 590„0116 258,582. Other, Financing Sources/(Uses): Reserve for Contingencies (300,000) (304,778) - 304„778 Transfers to Other Funds (192,781) (192,781) - 192,781 Total Other Financing Sources/(Uses) ( 92,781) (497,559) - 497,559 Net Change in Fund Balances (166,125) (166,1125) 590,016 756,141 Fund Balances, October 1 166,1I215 166,125 300,000 133,875 Fund Balances, September 30 - - 80„01i6 890„016 C-71 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL COMPREHENSIVE PLAN LAND AUTHORITY SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30„ 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental 2,390,000 2„390,000 2,937,454 547,454 Investment Income 100,000 1010„000 152,331 52,3 1 Miscellaneous Income - - 35,161 35,161 Total Revenues 2,490„000 2,490,000 3,124,946 634,946 EXPENDITURES: Current: General Government: Administrative 357„500 357,500 287,424 70,076 Capital Outlay 9,453,851 9,453„851 2,994,949 6,458,902 Total General Government 9,811,351 9,811,351 3,282,373 6,528,978 Net Change in Fund Balances (7,321,351) (7,321„351) (157,427) 7,163,924 Other Financing Sources/(Uses): Transfers from Other Fundls - 15,394 15,3 4 Net Change in Fund Balances - Budr3,etary Basis (7„321,351) (7,321,351) (142,033) 7,179,31I8 Fund Balances, October 1 9,4012,513 9,402,513 9,402,513 Fund Balances, September 30, Budgetary Basis 2,0 1,162 2,081,162 9,260„480 7,1179„318 Reconciliation at Budgetary Basis To GAAP Basis Reconciling item: Mortgage receivable 6,740,579 Compensation a,ccruiaN (8,209 Fund Balances, September 30 - GAAP Basis 15,992,850 G-72 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S INMATE COMMISSARY SPECIAL REVENUE FUND FOR THE YEAR ENDED SEP"TEMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 478,100 $ 387,600 $ 387,784 $ 184 Investment Income 13,000 12,000 12„051 51 Miscellaneous 80,200 80,200 80„355 155 Total Revenues 571,300 479,800 480,190 390 EXPENDITURES: Current:. Public Safety 457,430 348,755 348,631 124 Net Change in Fund Balances 113,870 131,045 131,559 514 Fund Balances, October 1 400,558 400,558 400,558 - Fund Balances, September 30 $ 514,428 531,603 $ 532„117 $ 514 G-73 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE'S - BUDGET AND ACTUAL SHERIFF'S IMPACT SUPPORT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 194,200 $ 206,700 $ 206„131 $ 5( 69 EXPENDITURES: Current{: Public Safety 194,200 206,700, 206,131 569 Net Change in Fund Balances - - - - Fund Balances, October 1 Fund Balances, September 30 $ - $ - $ W $ - G-74 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S OFF-DUTY SPECIAL. REVENUE FUND FOR THE YEAR ENDED SEP"TEMBER 30, 2008 Variance with Final Budget Original Final Positive Budget. Budget Actual (Negative) REVENUES: Intergovernmental 199,946 189,909 189,661 (239) Charges for Services - 21,000 20,722 (278) Total Revenues 109,045 210,900 210,383 (517) EXPENDITURES: Current: Public Safety 109,046 210,900 210 383 517 Net Change in Fund Balances - - - - Fund Balances, October 1 - - Fund Balances, September 30 - - $ - - G-75 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, 2008 Variance with Finial Budget Original Final Positive Budget Budget Actual (Negative) REVENUES, intergovernmental $ 1,086,524 $ 486,156 $ 481,189 (4,967) Charges for Services - 100 46 (60) investment lncome - 6,000 5,575 (425) Total Revenues 1,086,524 492,256 486,804 (5,452) EXPENDITURES: Current: Public Safety 1,648,518 965,641 957,963 7,678 Excess/(Deficiency) of Revenues Over/(Under) (Expenditures (561,994) (473,385) (471„159) 2,226 Other Financing Sources/(Uses): Transfers from Other Funds 22,441 327,744 325,518 (2,226) Net Change in Fund Balances (139,553) (145„641) (145,641) - Fund Balances, October 1 (288,854) (288,854) ( 88,854) - Fund Balances, September 30 $ (428,407) (434,495) $ (434,495) $ - -76 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,, 2008 Variance with Final Budget Originals Final Positive Budget Budget Actual (Negative)_ REVENUES: Charges for Services $ - $ - $ 41,236 $ 41,230 EXPENDITURES: Current: Public Safety 112,719 112,719 106,155 6,564 Excess/(Deficiency) of Revenues Overt Under Expenditures (112,719) 112,71 9) (64,925) 47,794 Other Financing Sources/(Uses): Transfers from Other Funds 112,719 112,719 64,925 (47,794) Net Change in Fund Balances - - - Fund Balances, October 1 Fund Balances, September 30 $ $ $ $ G-77 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUN© BALANCES - BUDGET AND ACTUAL SHERIFF'S SOUTH FLORIDA LAW ENFORCEMENT TRUST SPECIAL. REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual i (Negative) REVENUES: Intergovernmental - - 191,799 $ 191,79 Investment Income - 49,401 49,401 Total Revenues - - 24111,200 241„200 EXPENDITURES: Current: public Safety 573,364 801,1 4 7919 320 1,844 Net Change in Fund Balances (573,364) (8O1,164) (558,120) 243,044 Fund, Balances, October 1 1,725,183 1,725,183 1,725,183 - Fund Balances, September 30 1,151,819 $ 924,019 1,167„663 243,044 G-78 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANCES IN FUND BALANCES - BUDGET AND ACTUAL SHIERIFF'S SHARED ASSET FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 200 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative REVENUES: Investment Income 197,000 $ 207,500 $ 207,301 $ (199) EXPENDITURES: Current: Public Safety - 1,905 1,769 136 Grants and Aid 197,000 200,500 200„437 63 Total Expenditures 197,000 202,405 202,206 199 Net Change in Fund Balances - 5,095 5,095 - Fund Balances, October 1 4,899,220 4,899,220 4,899,220 Fund Balances, September 30 $ 4,899,220 $ 4,904,315 $ 4,904,315 $ G-79 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANCES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S FEDERAL FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negatiive) REVENUES: Intergovernmental $ - $ - $ 35,565 $ 35„565 Investment Income - - 35,318 35„318 Total Revenues - - 70„883 70,883 EXPENDITURES: Current: Public Safety 215,330 291,730 274„131 17„599 Grants and Aid 222,000 34,000 33,485 515 Total Expenditures 437,330 325,730 307„616 18,114 Net. Change in Fund Balances (437,330) (325,730) (236,733) 88„997 Fund Balances, October 1 1,378,291 1,378,291 11,378„291 - Fund Balances, September 30 $ 940,961 1,052,561 $ 11,141,558 $ 88,9197 -80 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S HIDTA ADMINISTRATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual) (Negative REVENUES: Charges for Services 325„200 305,200 279,313 $ (25,887) EXPENDITURES: Current: Public Safety 269,626 289„626 288,956 670 Net Change in Fund Balances 55,574 15,574 (9,643) (25„217) Fund Balances, October 1 151,054 151,054 151,054 - Fund Balances, September 30 206,628 166,628 141,411 (25„217) G-81 IM ONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S AIRPORT SERVICES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Final Budget. Original Final Positive Budget Budget Actual (Negative REVENUES: Intergovernmental $ 1,460,000 $ 1,550,532 $ 1,509, 07 $ 4�5 EXPENDITURES: Current: Public Safety 1,460,000 1,550,,532 1„509„507 40,725 Net Change in Fund Balances - - - - Fund Balances, October 1 Fund Balances, September 30 $ _ $ _ $ _ $ G-52 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S LAW ENFORCEMENT TRUST FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Total Revenues _ - - EXPENDITURES: Current: Public Safety, 123,460 1 3„466 103,934 19,466 Excess/(Deficiency) of revenues Over/(Under) Expenditures (123,400) (123,400) (103,934) 19„466 Other Financing Sources/(Uses): Transfers from, tither Funds 123,400 123,400 1O3„934 19�) Net Change in Fund Balances - _ Fuind Balances, October 1 Fund Balances, September 30 - - $ - - G-33 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S FINE AND FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Final Budget Original Find Positive Budget Budget Actual (Negative) REVENUES: Fines and Forfeitures 90,350 156,350 155,641 (709) Investment lncoe - 1,500 1,306 (14) Total Revenues 90,350 157,350 16,947 (903) EXPENDITURES: Current; Public Safety 25,425 50,714 49,611 903 Excess/(Deficiency) of Revenues Overl'(Under) Expenditures 64,925 107„136 107,136 - Other Financing Sources/(Uses): Transfers to Other Funds ( 4,925) (107,136) (107,136) - Net Change in Fund Balances - - - Fund Balances, October 1 Fund Balances, September 30 - $ _ G- 4 MONRO�E 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 SEP'TEMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services - - 100�,607 100„607 Investment Income 40,000 40,000 37,012 (2,088) Total Revenues 40,000 40,000 138,,519 08,510 EXPENDITURES: Current: Public Safety 351,425 796„425 776,949 10,476 Excess/(Deficiency) of Revenues Over/(Under) Expenditures (311,425 7�516„425) (638,430) 117,995 Other Financing Sources/(Uses): Transfers from Othe,r Funds 443,800 378,800 318,058 (60,742) Net Change in Fund Balances 132„375 (377„625) (320,372) 57,253 Fund Balances, October 1 1,678,460 1,678,460 1,678,460 - Fund Balances, September 30 1,810,835 1,300,835 1,358,0188 57,25 -85 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S 91.1 SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: investment; Income 32,000 $ 32„000 28,2Q1 (3,799) EXPENDITURES- Current: Public Safety 311,167 268,350 255,400 12,950 Excess/(Deficiency) of Revenues Overf(Un,der) Expenditures (279,167) (236,350) (227,199) 9,151 Other Financing Sources/(Uses): Transfers from Other Funds 537„000 564,000 568,109 4„109 Net Change in Fund Balances 257„833 327,650 340,910 13,260 Fund Balances, October 1 1,045,111 11,045,111 1,045,111 - Fund Balances, September 30 1,302„944 11,372,761 1,386,021 13,260 G-86 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, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Total Revenues $ - $ - $ _ $ - EXPENDITURES: Current;. Public Safety 1,310,974 1,152,085 1,1152,085 - Excess/(Deficiency) of Revenues Over/(Under) Expenditures (1,310,974) (1,152,08 ) (1,152,085) Other Financing Sources/(Uses). Transfers from tither Funds 1,310,974 1,310,974 1,310,974 - Transfers to tither Funds 1 58,889 158,889 - Total tither Financing Sources/Uses 1,310,974 1,152,085 1,152„085 - Net Change in Fund Balances - - - Fungi Balances, October 1 Fund Balances, September 30 $ - $ - $ - - G-87 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�, 2'00�8 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Total Revenues - - - - EXPENDITURES: Current: Public Safety 432,219 301,248 301,24 Excess/(Deficiency) of Revenues Over/(Under) Fxpend4ures (432,219) (301,24 ) (301,245) Other Financing Sources/(Uses): Transfers from Other Funds 432,219 432„219 43 ,219 - Transfers to Other Funds _ 1I30,974) (130,974) Total Other Financing Sources/Uses 432,219 301,245 301,245 - Net Change in Fund Balances - - - Fuind Balances, October I - - Fund' Balances, September 30 _ - - - G-88 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES I FUND BALANCES w BUDGET AND ACTUAL CLERK'S RECORDS MODERNIZATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services 440,000 440,000 $ 277,401 $ (162,599) Investment Income 55,000 55,000 5,304 (49,696) Total Revenues 495,000 495,000 262„705 (212,295) EXPENDITURES. Current: Court Related': Modernization Trust 1„403,100 1,403,100 616,334 786,766 Excess/(Deficiency) of Revenues Over/(Under) Expenditures 906,10 (908,100) 333 ,6229 574,471 Other Financing Sources/('Uses): Reserve for Contingencies (155,900), (155,900) y 155,900 Net. Change in Fund Balances (1,064,0100) (1,064,000) (333,62 ) 730„371 Fund: Balances, October 1 1,064,000 1,064„000 965,392 (96„603) Fund Balances, September 30 $ - $ - 631'1,763 $ 631„763 C-69 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANCES IN FUND BALANCES - BUDGET AND ACTUAL CLERK'S COURT RELATED SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: intergovernmental 701,842 722,502 $ 704,675 $ (17,827) Charges for Services 2,030,000 2,030,000 1,457,42.6 (572„574) Fines and Forfeitures 1,470,000 1„470,000 1,401,642 (68„358) Investment Income - - 992 992 Total Revenues 4,201,842 4,222,502 3,564,735 (657„767) EXPENDITURES: Current. Court: Related: Clerk Administration 347,435 347,435 304,030 43,405 Clerk Records Management 379,836 379,836 320,016 5 „820 Clerk Jury Management 121,249 141,909 113,1011 28„808 Clerk Circuit Court Criminal) 863,299 863„299 825„460 37,839 Clerk Circuit Court Civil 376,603 381,603 381,292 311 Clerk Circuit Court Family 140,157 140,157 123,440 16,717 Clerk Circuit Court Juvenile 173,904 173,904 125,719 48,18 Clerk Circuit Court Probate 9 ,323 95,323 88,919 6,404 Clerk County Court Criminal 727,565 722,55 616,866 1'05,699 Clerk. County Court Civil 265,835 265,835 196„989 68,846 Clerk County Court Traffic 896,035 896,035 813,738 82,297 Total Expenditures 4,387,241 4,407,901 3,909,570 498,331 Excess/(Deficiency) of Revenues Overl'(Under) Expenditures (185,399) (185,399) (344,835) 19,4 6) Other Financing Sources/(Uses): Reserve for Contingencies (457,847) (457,847) - 457,847 Transfer from Other Funds 985„272 985„272 93 ,577 (45„695) Transfer to Other funds (342„026) (342,026) (594„742) (252,716) Total Other Financing Sources/(Uses) 185„399 185,399 344„835 159„436 Net Change in Fund Balances - - - - Fund Balances, October 1 - - - - Fund Balances, September 30 $ $ - - $ - 0-90 It ONROE COUNTY„ FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL ALL DEBT SERVICE FUNDS FOR THE YEAR ENDED SEPTEI*,IIBER 30, 2'008 Variance with Final Budget Original Final) Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental 700,000 700,000 $ 634,900 (65,100) Investment Income 10,000 10,000 77,961 67,961 Total Revenues 710,000 710„000 712,861 2,861 EXPENDITURES: Debt Service: 2003 Revenue IBonds: Principal 1,2 0,0010 1,240,000 ,240„000 - Interest 581,830 581,830 566,950 14,880 Other CDebt. Service Casts - 93,000 71,667 21,333 Total 2003 Revenue Bonds 1,821I,830 1,914,830 1,878,617 36,213 Guaranteed) Entitlement. Loan: Principal 609,146 609,146 609„146 - Interest 36,580 36,580 27,566 9,014 Other Debt Service Costs 10,000 10,000 - 10„000 Total Guaranteed Entitlement Ln 655,726 655,726 636,712 10,014 2007 Revenue Bonds Interest - 991,745 991„745 Other Debt Service Costs - 1,759„354 476,82.6 1,282,528 Total Guaranteed Entitlement Ln - 2,751,099 111468„571 1,282,528 FRUFC Revenue Notes Interest - - 384,650 384 Total Expenditures 2,477,556 5„321,655 4,368,550 953,1�05 Excess/Deficiency of Revenues Over/(Under) Expenditures (1,767,556) (4,611,655) (3,655,689) 955,966 Other Financing Sources/(Uses): Reserve for Contingencies (718,649) (625„649) - 625,649 Transfers from Other Funds 1,900,000 4,144,245 4,144,245 - Loan Proceeds 506,854 3„096„504 2„58 ,650 Total) Other Financing Sources/(Uses) 1„181,351 4,025,450 7,240,749 3,215„299 Net Change in Fund Balances (586,205) (586,205) 3,585,060 4,171,265 Fund Balances, October 1 586,205 586,205 421,966 (164,239) Fund Balances, September 30 _ - 4,007,026 4,007,026 C-91 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, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative REVENUES: Taxes $ 14„000,002 14,000,002 15,147,593 $ 1,147,591 Investment Income 649,997 649,997 758,239 108,242 Total revenues 14„649,999 14,649,999 15,905,832 1,255,833 EXPENDITURES: Current: Capital Outlay: General Government: Flood Zone Evaluation 5,930 35,930 3,039 32,891 ADA Assessments 386,000 386,000 246„469 139,5'31 General Government (Projects 965,289 929,047 123,508 805,539 Total General government 1,357, 19 1,350,977 373,016 977,961' Public Safety 565,670 2,717,209 1,474,185 1,243,024 Physical Environment. 10,007,168 1,770,706 769,652 1,001,054 Transportation: Coast, Mgmt 1,004,205 500,000 424,517 75,483 Culture and Recreation 4,722,637 1„584,433 1,330,428 254,005 Total Capital Outlay Expenditures 17,656,899 7,92 ,325 4,371,798 3,551,527 Excess/Deficiency of Revenues Over/(Under) Expenditures (3,006„900) 6„726,674 11,534„034 4,8017,360 Other Financing Sources/(Uses): Deserve for Contingencies (600,000) (1,2118,914) - 1,218,914 Transfers from Other Funds 17,594 585,761 568,167 Transfers to Other Funds 13,050„0070 (23,917„337) 13,701,643) 10,215,694 Total Other Financing Sources/(Uses) (13,650,000) 25,118„657) i13,115,882 12,002„775 Net Change in Fund Balances (16,656,900) (18,391,983) (1,581,848) 16,810,135 Fund Balances, October 1 16,656,900 18,391,983 1 „124,483 732,500 Fund Balances, September 30 $ - $ $ 17„542,635 $ 17,542„635 G-92 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL INFRASTRUCTURE SALES SURTAX REVENUE BONDS, SERIES 2003 CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative)_ REVENUES: Investment Income $ 1,000 $ 165,200 $ 167,955 $ 2,755 EXPENDITURES: Current: Capital Outlay: General Government: General Government Project 1 3,734,896 9,776,518 7,961,509 1,815,009 General! Government Projects Ili 1,228,000 3,345,261 2,440,729 904,532 Total General Government 4,962,896 13,121,779 101,402,238 2,719,541 Public Safety-, Public Safety Projects - 11,500 11,109 391 Human Services; Human Service Projects 11,864,160 2,916,575 2,436,572 480,003 Total Capital Outlay Expenditures 6,827,056 16,049,854 12,849,919 3,199,935 Excess/Deficiency of Revenues Over/(Under) Expenditures (6,826,056) (15,884,654) (12,681,964) 3,202,6910 Other Financing Sr u�rces/(Uses): Transfers from Other Funds 5,633,983 8,825,589 5,920,460 (2,905.,,1,29)_ Net Change in Fund Balances (1,192,073) (7,059,0,65) (6,761,504) 297,561 Fund Balances, October 1 1,192,073 7,059,065 7,067,325 8,260 Fund Balances, September 30 $ - $ - $ 305,821 $ 305,821 G-93 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL INFRASTRUCTURE SALES SURTAX REVENUE BONDS, SERIES 2007 CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTE'MBER 30, 2008 Variance with Final) Budget Original Final Positive Budget Budget. Actual (Negative)_ REVENUES: Investment Income - - 756,859 756,859 EXPENDITURES: Current: Capital Outlay: General Government Projects _ 3,033,705 8,650 3,025,055 Public Safety Projects _ 8,145,719 1,117 ,835 6,965,884 Physical Environment Projects _ 14,019,465 1,886,432 12,133,033 Culture and Recreation Projects - 5,095„891 3,150,553 1,945,338 Total Capital Outlay Expenditures - 30,294,780 6,225,470, 24,069,310 Excess/Deficiency of Revenues Over/(Under), Expenditures (30,294,780) (5,468,611I) 24,826„169 Other Financing Sources/(Uses): Debt Proceeds - 28,908,146 28,908„146 - Original Issue Premium - 1,091,854 1,091„854 Transfers from Other Funds - 294,780 292„053 2,727) Total Other Financing Sources/(Uses) _ 30„294,780 30,2 2,053 (2,727) Net Change in Fund Balances _ - 24,823,442 24„823,442. Fund Balances, October I _ - - Fund Balances, September 30 _ 24,823,442 24„823,442 0-94 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BIG COPPITTWASTEWATER PROJECT, CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTEMBER 30, 2008 Original Final Positive Budget Budget Actual (Negative)_ REVENUES: Investment Income $ $ - $ 327,666 $ 327,666 Miscellaneous 2,060,987 2,081,451 20,464 Total Revenues 2,060,987 2,409,117 348,130 EXPENDITURES-. Current: Capital Outlay: Physical) Environment: Big Coppitt Wastewater 1,000=0 85,530 914,470 Big Coppitt WW Bridge Loan 21,000,000 4,557,474 16',442,526 Big Coppftt WW DEP Grant 10,393',833 7,342,580 3,051,253 Big Coppitt Special Assessment W 2,060,987 1,018,824 111,042,163 Total Physical Environment 34,454,820 13,004,408 21,450,412 Total Capital Outlay Expenditures 34,454,820 13,004,408 21,450,412 Excess/[deficiency of Revenues Over/(Unider) Expenditures (32,393,833) (10,595,2911) 21,798,542 Other Financing Sources/(Ulses): Debt Proceeds 21,000,000 18,410,350 (2,589,6501) Transfers from Other Funds 11,393,833 5,947,766 (5,446,067) Total Other Financing Sources/(Uses) 32,393,833 24,358,116 (8,035,717) Net Change in Fund Balances W - 13,762,825 13,762,825 Fund Balances, October 1 - - Fund Balances, September 30 $ $ $ 13,762,825 $ 13,762,825 G-95 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF NET ASSETS INTERNAL SERVICE FUNDS SEPTEMBER 30, 2008 Worker's Group Risk Compensation Insurance Management Fund Fund Fund ASSETS Current Assets: Cash and Cash Equivalents $ 3,469,234 $ 7,626,044 $ 638,611 Investments 1„346,243 11,454,999 3,582,796 Accounts Receivable, Net 1,582 22,373 - Due from Other Funds 14,7811 - 2,755 Due from Other Governmental) Units - 37,104 - Interest Receivable 172,407 205„447 25,776 Total current assets 5,004,247 19,345,967 4„249,938 Noncurrent Assets; Land and Other Ncndepreciiable Assets - - Capital Assets, Net ofAccum. Depreciation 2,144 231 2,468 Total Noncurrent Assets 2,144 231 2,468 Total Assets 5,006, 91 19,346,198 4„252,406 LIABILITIES Current Liabilities: Accounts Payable 50,612 305,159 60„135 Accrued Wages and Benefits Payable 6,513 7,931 8,270 Claims andJudgements Payable 1„287,983 3„645,062 1,597,490 Glue to Other Funds - 1,185 - Due to Other Governmental) Units 29,768 - - Accrued Comp. Absences Payable 9,042 6,832 7,630 Other Current Liabilities 1,932 1,052 - Total Current Liabilities 1,385,850 3,967,221 1,673,525 Noncurrent Liabilities: Accrued...., Comp. Absences Payable 19,776 17,206 23,696 OtPEB (Liability 28,000 12,000 14,000 Total Noncurrent Liabilities 47,776 29,206 37,696 Total Liabilities 1,433,626 3,996,427 1„7111„221 NET ASSETS Invested in Capital Assets„ Net of Related) Debt 2,144 231 2„468 Unrestricted) 3,570,621 115„349,540 2,538,717 Total Net Assets 3,572,765 $ 15,349,771 $ 2,541,185 C-96 Fleet Management Fund Total 9,823 11,743,712. 1,250,73'4 117,634,772 - 2 ,955 48,253 65,789 91,522 128,626 1,038'9 404,719 1,401,421 30,00J ,573 54,000 54,00 0 1,173,950 1,178,793 1,227,9509 1„23'2,793 2,629,371 31,234,366 73,343 489,249 37,445 60,159 - 6,530,535 43 1,228 16 29,784 1,327 24,831 - 2,984 112,174 7,138,770 46„905 1006,683 70,000 0 124,000 116,6095 2309,683 228„179 7,369,453 1,227,950 1,232,793 1,173,242 22„632,1209 2,401,192 23,864,913 G-97 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2008 Worker's Group Risk Compensation Insurance Management Fund Fund' Fund Operating Revenues: Charges. for Services $ 1,908,076 $ 12,174,388 $ 2,008,668 Miscellaneous 8,697 - 9,614 Total operating revenues 1,916,773 12„174,388 2,018,282 Operating Expenses: Personnel Services 233,457 215,220 225,343 Operations 393,216 635,783 1,780,361 Depreciation and Amortization 1,296 213 778 Asserted and Paid Claims 2,135,393 12,150,206 264,153 Total operating expenses 2,763,362 13,001,422 2,270,635 Operating Income/Loss (846,589) (827,034) 353 Non-Operating Revenuesi(Expenses): Investment Income 308,759 778,314 241,668 Insurance Recoveries 73,668 398,588 209,245 Gain (Loss) on disposition of Assets - - (9,210) Total Non-Operating Revenues/(Expenses) 382,427 1,176,902 441,703 Income/Loss Before Contributions and Transfers f464,162) 349,868 189,350 Transfers to Other Funds 37,828 (68,642) (2,733,687) Change in Net Assets (501,990) 281,226 (2,544,337) Total Net Assets-October 1 4,074,755 15,068,545 5,085,522 Total Net Assets-September 30 $ 3,572,765 $ 15,349,771 $ 2,541,185 G-98 Fleet Management Fund "eta l 3,654,785 19„745,917 1,015 119,326 3,6'55,800' 19,765,243 1,128,551 1,802,571 2,142,088 4,9511,448 72,282 74,569 - 14,549,752 3,342,921 21,378,340 312,879 (1,M613,097 47,121 1,375,86'2 - 681,501 4,478 (4,732) 51,599 2,052,631 364y478 439,534 (563„647) (3,403,204) (198,569) (2,963,670) 2,599,761 26,828,5'83 2,401,192 $ 23,864,913 C -'99 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS FOR 'THE YEAR ENDED SEP'TEMBER 30, 2008 Worker's Group Risk Compensation Insurance Management Fund Fund Fund Operating Activities: Cash received for services $ 64,138 $ 3,679,743 $ 39,230 Cash rec'vd from other funds for goods and Svcs 1,829,157 8,591,946 1,966,683 Cash received from insurance recoveries 73„668 396,010 2, 03,247 Cash payments to suppliers for goods and Svcs (454,007) (562,12 ) (1,773,088) Cash payments for employee services (146,517) (141,549) (151,410) Cash payments to other funds (26,442) (29,920) (27,614) Cash payments for claims (2,641,761) (12,146,410) (214,153) Other operating revenue 7,115 - 9,614 Net Cash Provided by/(Used in) Operating Activities 1,294,649) (212„303) 2,152,509 Noncapital Financing Activities; Transfers to other funds (37,828) (68,642) (2,733,687) Capital and Related Financing Activities: Acquisition of capital assets - - (9,210) Investing Activities: Investment income 303,181 574,084 215,892 Proceeds from, sales and maturities of investments 3,367,873 28,656,793 8,963,025 Purchase of investment securities (4,714,116) (40,111,792) (12,545,821) Net Cash Provided/(Used) in Investing Activities (1,043,062) (10,880,915) (3,366,904) Net Increase/(Decrease) in Cash and Cash Equivalents (2,375,539) (11,161,860) (3,957,292) Cash and Cash Equivalents: October 1 5,844,773 18, 87,904 4,595,903 September 30 $ 3,469,234 $ 7,626,044 $ 638,611 G-100 Fleet Management Fund Total 1,822,972 $ 5„696,683 1,857,1119 14,244,896 - 2,77'2„925 (2,255,848) (5,645,966) (89� „377) (11,242,853) (216,187) (3006,163) - (15,002,324) 1,0115 17,744 405,685 1,051,242 (563,947}, (3,403,204) (22,711) (311,921) 46,032 1„139,189 3,1128,944 44,116,635 (4,379,678) (61,751,467) (1,204,702) 16,495,583 (1,384,775) (18,879,466) 1„394„598 30,623,1178 9,823 111„743,71 (Continued) t3-161 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CASH FLOWS - CONTINUED INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2008 Worker's Group Risk Compensation Insurance Management Fund! Fund Fund Reconciliation of operating income/(loss) to net cash provided by l(used in) operating activities: Operating income/(loss) K846,589) $ (827,034), $ (25,2,353) Adjustments to reconicille operating incomel(loss) to net cash provided by/(used in) operating activities: Depreciation and Amortization 1,296 213 778 Nonoperating Income-Insurance Recoveries 73,668 398,588 209,245 Change in assets and liabilities: Increase/(Decrease) in Accounts receivable (1,582) (2,578) 2,094,002 Increase/(Decrease) in Due from other gov't units (3,307) Increase/(Decrease) in Due fm, constitutional ofcrs, (14,781) 99,423 (2,755) Increase/(Decrease) in Accounts payable (42,363) 95,044 29,553 Increase/(Decrease) in Accrued wages/benefits 849 2,504 2,409 Increase/(Decrease) in Claims/judgments payable (506,368) 3,796 50,000 Increase/(Decrease) in Due to other funds, - - - Increase/'(Decrease) in Due to other gov't units 2,261 - Increase/(Decrease) in Due to constitutional ofcrs - 1,185 - Increase/(Decrease) in Comp. absences payable 9,042 6,832 7,630, Increase/(Decrease) in Other, current liabilities 1,918 1,031 - Increase/(Decrease) in OPEB liability 28,000 12,000 14,0100, Total adjustments (448,060) 614,731 2,404,862 Net cash provided byl(used in) operating activities $ (1,294,649) $ (212,303) $ 2,152,509 Noncash investing, capital, and financing activities: Gain, (Loss) on disposition, of assets, $ - $ - $ (9,2110) Cash Reconciliation: 'Unrestricted $ 3,469,,234 $ 7,626,044 $ 6,38,611 G-102 Fleet Management Fund Total 312,879 _ (1,613,097) 72„282 74,569 - 681,501 2,089,842 24,003 20,696 1,294 83,181 (40�,980) 41,254 (8,778) (1,016) - (452,572) 28 28' 18 2,277 - 1„185 (27,07) (3„553) - 2,949 70,000 124,000 92,806 2,664,339 405,885 1,051,242 4,478 (44„731 9,823 11,743,712 G-103 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF FIDUCIARY NET ASSETS ALL AGENCY FUNDS SEPTEMBER 30m 2008 Clerk"s Sheriff's Tag General General and Property Agency Agency License Tax Totals ASSETS Cash and Cash Equivalents $ 2,307„843 $ 603,379 166,066 $ 2,505,622 $ 5,582,910 Accounts Receivable 64,888 _ 1,718 2,930 69„536 Total assets $ 2,372„731 $ 603,379 $ 167,784 $ 2,508„552 $ 5,652,446 LIABILITIES Clue to Others $ 1,668,183 $ 584,888 $ 1,567 $ 7,703 $ 2,262„341 Clue to Other Governmental t.Un,its 704,548 18,491 166,217 2,500,849 3,390,105 Total liabilities $ 2,372,731 $ 603,379, $ 167,784 $ 2,508,552 $ 5,652,446 G-104 MONROE COUNTY, FLORIDA. COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS ALL AGENCY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 20�08 1011/2007 Additions Deductions 9/30/2008 Clerk's General Assets Cash and dash Equivalents $ 3,779,007 $ 26,886,817 $ 28,357,981 $ 2,307,843 Accounts Receivable 16,712 89,1184 41,008 64,888 Total assets $ 3,795,719 $ 26,976,001 $ 28,398,989 $ 2„372,731 Liabilities Due to Others $ 2,799,851 $ 5,343,605 $ 6,475,273 $ 1,668,183 Due to Other Governmental Units 995,868 21,632,396 21,923,716 704„548 Total liabilities $ 3,795,719, $ 26,976,001 $ 28„3 8,989 $ 2,372,731 Sheriffs General Assets Cash and Cash Equivalents $ 1,002,043 $ 2,244,01112 $ 2,642„676 $ 603,379 Liabilities Due to Others $ 1,002,043 $ 2,225,521 $ 2,642,676 $ 584,888 Due to Other Governmental Units - 18,491 - 18,49111 Total liabilities $ 1,002,043 $ 2,244,012 $ 2,642,676 $ 603„379 Tagii and License Assets Cash and Cash Equivalents $ 149,367 $ 10„126,465 $ 10„109,766 $ 166,066 Accounts Receivable 767 951 - 1,718 Total assets $ 150,1134 $ 10,127„416 $ 10„109,766 167,784 Liabilities Due to Others $ 1,908 $ 25,083 $ 25,424 $ 1,567 Due to Other Governmental Units 148„226 10,102,333 10,084,342 166„217 Total liabilities $ 150,134 $ 10,127,416 $ 10,109„766 $ 167,784 Prom, Tax Assets Cash and Cash Equivalents $ 1,928,392 $ 26 „157, 94 $ 262,580,064 $ 2,505,622 Accounts Receivable 19,449 - 16, 19 2,930 Total assets $ 1, 47,841 $ 263,157,294 $ 262,596,583 $ 2,508,552 Liabilities Due to Others $ 7,404 $ 10,582,484 $ 10,582,185 $ 7„703 Due to Other Governmental Units 1,940„437 252,574,810 252,014„398 2,500,849 Total liabilities $ 1,947,841 $ 263,157,294 $ 262,596,583 $ 2,508,552 (Continued) G-105 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET'ASSETS-CONTINUE© ALL AGENCY FUNDS 10/112007 Additions Deductions 9/3012008 Total All Agency Funds Assets Cash and Cash Equivalents $ 6,858,809 $ 302,414, 88 $ 303,690,487 $ 5,582,910 Accounts receivable 36,928 90,135 57,527 69,536 Total assets $ 6,895,737 $ 302,504,723 $ 303,748,014 $ 5,652,446 Liabilities Due to Others $ 3,811,206 $ 18,176,693 $ 19,725,558 $ 2,262,341 Due to Other Governmental Units 3,084,531 284,328,030 284,022,456 3,3910,105 Total liabilities $ 6,895,737 $ 302,504,723 $ 303,748,014 $ 5,652,446 G-106 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 affordabiility 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 I 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. H-1 0 0 r 0) co m 0 0 co CY) r- C14 0 r- CV) U') P, 0) 0 N rl. CAP 0 co N 14, r- 0 N rl. co 00 v 00 Nr M. N a (o CN 0 m r- 0 IT It CW N N N — 0) m 0 Cl) N (D 0 w CO N 14' 00 IT I — w CD — 0 M 0) 0 00, Iq N cyi r-: 06 ai C4 1q: d P-: (d (''wl" 06 (6L (14 NT to co 'IT 00 0 (D CN N C) (Do 0 tl*, r-, q Ui (q 9. 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OU OU t *t =30 OU tt to I-- M M 0) H-4 Continued Monroe County,Florida Changes in Net Assets-Continued Last Seven Fiscal Years(1) (accrual basis of accounting) Fiscal Year 2002 2003 2004 2005 2006 2007 2008 Net(expense)lrevenue Governryientall activities $ (96,910,755) $ (108,411,019) $ (103,535,358) $ (109,704,143) $ (132,621,551) $ (130,680,120) $ (126,466,997) Business-type activities 1,174,783 5,927,559 4,024,816 5,540,995 2,558,552 (274,806) 6,867,3,27 Total primary governinent net expense $ 97�2 $__jjq?_,48 3,460 9,510,542 $ 63,148 62,999 S 954 926 (119,599, 0 General Revenues and Other Changes in Net Assets Governmental activities. Taxes Ad ValoreM Taxes $ 54,584,047 $ 58,170,115 $ 60,113,153 $ 65,213,691 $ 71,978,592 $ 77,3"70,025 $ r4,581,1 11 Tourist Impact Tax 1,972',187 2,078,380 2,280,226 2319,138 2,337,667 2,470,44 7 2,774,826 Gas Tax 5,038,354 5,087,735 5,391,138 5,565189 5,442,950 5,32'1,958 5,056,226 112 Cent Saies Tax 7,424,697 7,,787,670 8,484,851 8,163,088 8,453,482 8,327,392 8,251,410 One Cent Infrastructure Tax 12,769,884 12,884,890 15,365,641 14,875,923 15,201,005 15,200,289 15,147,593 Tourr4st Devek:iprnem Tax 11,799,207 12,395,648 13,653,340 13,924,863 13,658,344 15,427,328 15,006,028 Other Taxes 1,128,287 1,233,000 3,044,564 3,546,375 3,567,41 0 3,126,761 2,055,110 Other State Shared Revenue 3,154,471 3,152,543 3�,200,402 3,296,240 3r366,289 3,3103,470 3,181,530 Investment Income 3,848,672 2,939,632 2,744,110 5,611,225 9,502,95�3 11,231,888 7,861,928 Miscellaneous 3,890,714 3,0'82,404 2,418,079 7,683,121 6,221,014 8,597,566 4,818�,350 Transfers 749,401 659,908, 973,933 973,933 .....L147 811§_L (1,435 0701 �0 923jj8j otal government activities 106,359,921 109,471,925 117,669,437 131,172,786 139,5811,888 148,942,054 136,810,674 BUsiness-type,activities Investment Income 554,700 401,560 358,972 742,461 1„737,753 1 984,413 1,206,849 Miscelianeows - 57,779 16,825 115,925 28,891 3,221,682 302,057 Transfers (749,401) (659,908) .....1973 3 , 21I-3, 3 147,818 1,43�5,070 1,923,435 _2L1 ......L_ Totali business-type actMtres 19 4_Kqlj_ (200,569) (598,136) (1 15,5L/) 1,914,462 6,641,1165 3,432 344 1 otaB primary government $ 106,165,220 $ 109,27 1,356 $ 117,071,301 $ 131,057,239 $ 141,496,350 $ 155,583,219 $ 140,24 3,018 Change in Net Assets GoveirnmientaR activities $ 9,449,166 $ 1,060,906 $ 14,134,079 $ 21 468,643 $ 6,960,337 $ 18,261,934 $ 10,343,677 Business-type activities 980,1082 �5r26,990 3,,426,680 5,425,448 4,473,014 6,366,359 101,299�,671 lotat primary goveinment $ 10,429,248 $ 6,787,896 $ 17,560,759 $ 26,894,091 $ 11,433,351 $ 24,628,293 $ 20,643,348 (1)Only seven years are available due to initial GASB 34 implementation in fiscal year 2002. H-5 Monroe County, Florida Governmental Activities Tax Revenues By Source Last Seven Fiscal Years (1) (accrual basis of accounting) Sales Taxes State Local Local Tourist Fiscal Property Tourist Sales Development Other Year Tax Impact Tax Tax Tax Taxes Total 2002 $ 54,584,047 $ 1,972,187 $ 25,232,935 $ 11,799,207 $ 1,128,287 $ 94,716,663 2003 58,170,115 2,078„380 25,760,295 12,395,648 1,233,000 99,637,438 2004 60,113,153 2,280,226 29,241,630 13,653,340 3,044,564 108,332,913 2005 65,213,691 2,319,138 28,604,200 13,924,863 3,546„375 113,608,267 2006 71,978,592 2,337,667 29,097,437 13,658,344 3,567,410 120,639,450 2007 77,370,025 2,470,447 28,849,639 15,427,328 3,126,761 127,244,200 2008 74,581,111 2,774,826 28,455,229 15,006,028 2,055,110 122,872,304 (1) Only seven years are available due to initial GASB 34 impIlernentation in fiscal year 2002. 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(o Ln 1q, rl m m 0 0 Z -C -6 0 3: 0 0 0 2 c ct) ol 2 tm m LO I-t m m 04 N N (D CL 0 0 M CL w LO Ln > 0 0 0 x > 0 m 0 �Zto CD (0 CL LL m 0 0 00 co 0 N r- 0 co 0 m CO (0 11 I�r 'IT rl- m N et0 ra 0 0 C> CL 0 2 2 > CL v o 0 0 CL 2 msJCL u IV) 2 m C) 'T 0 (.0 0 LO w 0 m 0 00 00 0 n 'coo 00 (0 Nt 14- It P, M 04 IT a >1 — — — — — — — — — Ci CL E W > Z 0 tea r� LO (D q m a r� cn va 00 m N (0 tea — — CU 0 — — 0 LO r— m 0 m co lqr to co to 0 w m 0 r- m Q U') m r� u C.) om 0 CL CL CL < 0 0 CL a) cn t C CD tl- LO 0 m 0) 0 r- OL I= cm co (1) N w 00 CY) 0 m m LO tl- m C) LO co "rr (D 00 m 'a w M C> r- Cl) 0 Cr) w.�g 4 0 E a r 0 0 0- �: 0 0 w nC 09 C) t lm ,z Lo w r-- co pA Q) (D 0 0 0 0 0 0 0 2 > m 0 0 0 Cr 0 CD C) CD (3 CL C14 N N N N N N N 0 0 0 U) H-12 Monroe County, Florida Principal Property Taxpayers September 30, 2008 2008 1999 Percentage of Percentage of Taxable Total Taxable Taxable Total Taxable Assessed Assessed Assessed Assessed Taxpayer Value, Rank Value Value Rank Value Fla, Keys Electric Co-Op $ 83,469,255 1 019% BellSouth/Southern Bell 76,707„307 2 0,27% 62,733,,167 1 0.75% Gaileon Condo. Assoc. 72,566,263 3 0,25% City of Key West 67,739,655 4 024% SH5 LTD/Holiday Inn Key West, 66„682,765 51 0,23% 20,541,240 7 0.25% Casa Marina Owner LLC 66,650,103 6 013% 47,639,974 2 0,57% Hyatt Key West 66,402,706 7 0,23% 17,681,207 10 0.21% Windward Point LLC 51,039,144 8 OA8% BlueGreen Resorts Management 45,945,715 9 0.16% IMM70 Owner LLC 40,615,761 10 0,14% Hjq1on Resorts& Marina - 29,894,372 3 0.36% Cheeca Lodge 25,917,575 4 0.31% Pier House - - 23„971,143 5 0,29% Sheraton Suites - - 20,716,407 6 0.25% Southernmost Beach LP - - 20,012,119 a 024% The Reach - - 19,266,161 9 0,23% $ 637,818,,674 2.22% $ 288,373,365 3.46% Soiurce! Monroe County Property Appraiser H-1 3 41 6 d) a" e e e e cn 00 (Y) rl- il- r- 00 00 (D (0 0 m 6 6 (6 0 6 6 6 6 6 6 0 a. 0 co LO (Y) CY) N r— CY) LO 00 Lf) 0 CO 0) 00 Q CY) 0 4 cry cyi C6, (d 0 C14 �o m �2 cn E w c5 rr w ;f m r- w 5 N cli I;i 1-: C6 C-Ni rl-� C6 LO LO U-j UD Q r-Ni LO rl- r- lu Iq OD m oc 0 (0 co 0 m V �c 0 o EL u > U) 4) U.L 0 > 4- U a) a 0 0 M _j m (D (D (0 (D Ko W (D (D V) (D (D CB. 0 CL (L u Cti m co C) CY) 00 LO m �o 04 00 0 L) co (0 CD CY) 00 0 I�r N LO .0 r- r,- N o cr-) cN a) C'� 0 LL 0 00 CV) m (Y) m it 00 co m (6 E rr-- 000) m - CN C,W-) LO IT — U')-qr r-w oi (D r-: 00 6 V) V') (D r- rl- 0 x M 0) W (0 m co m m Iq m Nr 0) a) x 0q. Cl� - m m r-�- U*) IT CD CY) (D QD m r- 0 r- IT I�t 0 m ffi (6 6 Ni 0 a) 2 c OL 0 Q 15 < m a N CY) 1* U") (D r� co m 0 C) 0 C) 0 C) CD C) 0 Cp 0 E a), C) CD 0 C) 0 0 C) C) (D z c W, CN 04 N N N N N N W 4� T) CL 0 z H-14 < 0 Cl) LO N 04 m z z en 8-1 cc m N 00 -t co z z z 2 a. o 0) co to 00 UD 0 U') 0 co 0 1�- 0) <t U). Co. C) Vt. M� N (0 N. E 0 co (D 0) 0 Ul) I,- co 0 M 0 co N E E Cl) .c LQ llzr Vi m Iq 0- LO 0 (D 0 0 P- -* CD 0 M m N m N N N c I- m 0 0 0 0 0 00 N N rl- r-N N rl r, I N,. LO M N N N E; 0 (D ;; �o 00, LO co CD 0 �o It LO 0) �t U') cr) col M- to.. M 0 Q 4 OL c 0 Q CL F) (n E a) m CD 0 CD 0 E: CD C, 0 0 0 0 0 8 un c u C� 0 0 Ld C5 16 C5 tin, L6 0c 0 c U. U') C Lo 0 m (6 Ln 0 N w. 0 ,I CFi 0) cc co N r- N 0) co It A �t 0 C,� '1Y Lo.. VI "I co m w to It N 0 N (D N 0 a) w (D m 10 C) -0 0 0 0 0 0 CD W, cq Ln CD C� q C? I�r Nt P s. > u Va c UJ IT Ln 0 �o m N. -0 �T cc co N r- usc LC 5 C-i t,: C6 ui (d o u 0 0) Ln m N co Nas ,LE CL 0 0 U E W (D CF C) 0 C) 0 C> C) 0 0 It 0 CD 0 CD 0 C> 0, C) 0 co N �b co �n C:� cl) m — It P- N �D w �D C6 rl: (Ni L6 6 ai C6 (6 (D 0) m V) >M < ur to to r-- co 4.7 m 0 CP 0 C7 BCD C, Cl Cx CD N N N N C4 z 7:1 z H-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 19,99-2008, H-16 Monroe County, Florida Direct and Overlapping Governmental Activities Debt As of September 30, 2008 Estimated Estimated Share of Debt Percentage Overlapping Governmental Unit Outstanding Applicable— Debt Monroe County does not have any direct and overlapping governrnentaq activities debt as of September 30, 2008. H-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 1999-2008. H-18 Monroe County, Florida Pledlged-Revenuie Coverage Governmental Activities, Last Ten Fiscal Years Sales Tax Revenue Bonds Fiscal Debt Service Year Collections Principal Interest Total Coverage 1999 $ 12,996,907 $ 3,732,500 $ 972,300 $ 4,704,800 $ 2,76 2000 12,387,681 3,945,000 760,366 4,705,366 2.63 2001 12,719,998 4,127,500 574,555 4,702,055 231 2002 12,645,370 4,280,000 419,774 4,699,774 2.69 2003 12,884,890 4,995,000 604,715 5,599,715 Z30 2004 15,039,016 3,387,500 750,952 4,138,452 163 2005 14,875,923 1,157,500 640,780 1,,798,280 8.27 2006 15,201,005 1,187,500 617,630 1,805,130 8,42 2007 15,200,289 1,222,500 593,880 1,816,380 8,37 2008 15,147,595 2,515,000 1,558,69,4 4,073,694 372 Guaranteed Entitlement Bonds and Notes Fiscal Debt Service Year Collections Principal Interest Total Coverage 1999 $ 2,,946,989 $ 416,667 $ 260,270 $ 676,937 $ 4.35 2000 2,448,727 432,500 243,040 675,540 362 20011 2,065,,418 451,667 224,223 675,890 3,06 2002 1,951,,730 4711,667 203,743 675,410 2,89 2003 1,992,079 530,,299 143,080 673,379 2,96 2004 2,170,003 553,597 95,444 649,041 134 2005 2,249,626 568,719 79,157 647,876 3.47 2006 2,332,385 587,428 62,425 6491853 159 2007 2,173,766 606,066 45,322 651,388 334 2008 1,990,010 623,755 27,565 651,,320 3.06 Racetrack Funds Bonds Fiscal Debt Service Year Collections Principal Interest Total Coverage 1999 $ 223,250 $ 150,000 $ 9,500 $ 159,500 $ 1.40 Note: Details regarding the County's outstanding debt can be found in the notes to the financial statements. 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REPORTING ND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL, STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT STANDARDS To the Honorable Mayor and Board of County Commissioners of Monroe County, Florida: We have audited the financial statements of the governmental activities, the business-type activities, each major fund and the aggregate remaining fund information of Monroe County, Florida (the "County") as of and for the year ended September 30, 2008, which collectively comprise the County's basic financial statements, and have issued our report thereon dated March 30, 2009. 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 Comptrolller General of the United States. Internal Control over Financial Reporting In planning and performing our audit, we considered the County's internal control over financial reporting as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the County's internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the County's internal control over financial reporting. A control deficiency exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A significant deficiency is a control deficiency, or combination of control deficiencies, that adversely affects the County's ability to initiate, authorize„ record, process, or report financial data reliably in accordance with generally accepted accounting principles such that there is more than a remote likelihood that a misstatement of the County's financial statements that is more than inconsequential will not be prevented or detected by the County's internal control. A material weakness is a significant deficiency, or combination of significant deficiencies, that results in more than a remote likelihood that a material misstatement of the financial statements willl not be prevented or detected by the County's internal control.. 1-1 Our consideration of internal control over financial reporting was for the limited purpose described in the first paraigiraph of this, section and would not necessarily identify all deficiencies in internal control that might be significant deficiencies or material weaknesses. We did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses, as defined above. 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, regulatiions, contracts, and grant agreements, noncompliance with, which could have a direct and material effect on the determination of financials statement amounts. However, providing an opinion on compliance with those provisions, was not an objective of our audit, and accordingly, we do not express such an opinion, The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. We noted certain matters that we reported to management of the County in a separate letter dated March 30, 20'09, This report is intended solely for the information and use of management, the County Mayor and the, Board of County Commissioners of Monroe County, Florida, the State of Florida Office of the Auditor General, and applicable federal and state agencies and is not intended to be and should not be used by anyone other than these specified parties. CHERRY, BEKAERT & HOLLAND, L.L.P Orlando, Florida March 30, 2009 1"NIN91w INDEPENDENT AUDITORS' REPORT CAN COMPLIANCE AND INTERNAL CONTROL OVER COMPLIANCE APPLICABLE TO EACH MAJOR FEDERAL AWARDS PROGRAM AND STATE FINANCIAL ASSISTANCE PROJECTS To the Honorable Mayor and Board of County Commissioners of Monroe County, Florida; Compliance We have audited the compllianice of Monroe County, Florida (the "County") with the types of compliance requirements described in the U,S. Office of Management and Budget (OMB) Circular A-133 Compliance ,Supplement, and the requirements described in the Mate of Florida Department of Financial) Services' State Projects Compliance Supplement, that are applicable to, each of its major federal awards programs and state financial assistance projects for the year ended September 30, 40 . The County's major federal awards programs and state financiial assistance projects are identified in the summary of auditors' results section of the accompanying Schedule of Findings and Questioned Costs. Compliance with the requirements of laws„ regiuilations, contracts, and grants applicable to each of its major federal awards programs and state financial assistance projects is the responsibility of the County's management. Our responsibility is to express an opinion on the County's compliance based on our audit. 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, OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations,° and Chapter 10.550, Rules of the Auditor General. Those standards, OMB Circular A-133, and Chapter 10.550, Rules of the Auditor General, require that we plan and perform the audit to obtain reasonable assurance about whether, non- compliance with the types of compliance requirements referred to above that could have a direct and material effect on a major federal awards program or state financial assistance project occurred. An audit includes exam,iniing„ 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. Our audit does not provide a legal determination of the County's compliance with those requirements. In our opinion, the County complied, in all material respects, with the requirements referred to above that are applicable to each of its major federal awards programs and state financial assistance projects for the year ended September 30, 200& l- Internal Control over Compliance The management of the County is responsible for establishing and maintaining effective internal control over compliance with the requirements of laws, regulations, contracts and grants applicable to federal programs and state financial assistance projects. In planning and performing our audit, we considered the County's internal control over compliance with requirements that could have a direct and material effect on a major federal program or state financial assistance project in order to determine our auditing procedures for the purpose of expressing our opinion on compliance, 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 in accordance with OMB Circular A-1 33 and Chapter 10.550, Rules of the Auditor General. A control deficiency in the County's internal control over compliance 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 noncompliance with a type of compliance requirement of a federal program or state financial assistance project on a timely basis. A significant deficiency is a control deficiency, or combination of control deficiencies that adversely affect the County's ability to administer a federal program or state financial assistance project such that there is more than a remote likelihood that noncompliance with a type of compliance reqluirement of a federal program or state financial assistance project that is more than inconsequential will not be prevented or detected by the County's internal control. A material weakness is a significant deficiency, or combination of significant deficiencies, that results in more than, a remote likelihood that material noncompliance with a type of compliance requ:iremenit of a federal program or state financial assistance project will not be, prevented or detected by the County's internal control. Our consideration of internal control over compliance was for the limited purpose described in the first paragraph of this section and would not necessarily identify all deficiencies in internal control that might be significant deficiencies or material weaknesses. We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as defined above. This report is intended solely for the information, and use of management, the County Mayor and the Board of County Commissioners of Monroe County, Florida, the State of Florida Office of the Auditor General, and applicable state and federal agencies, and is not intended to be and should not be used by anyone other than these specified parties. CHERRY, BEKAERT & HOLLAND, L.L.P. Orlando, Florida March 30, 2009, 1-4 Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance Projects For the Year Ended September 30, 2008 FederallState Agency, Pass-through Entity CFDA Federal Prociram/State Project Number Department of Agriculture: Passed through State Department of Elder Affairs and Alliance for Aging: NSIP - 2007 10,570 NS11P - 2008 10.570 Total Federal Agency Department of Health and Human Services: Passed through Florida Department of State, Division of Elections: Federal Election Activities 90,401 Passed through State Department of Elder Affairs and Alliance for Aging: Tifie 11113 Support Services- 2008 93.044 Title 11113 Support Services - 2007 91044 Total Program Title IIIC-1 Congregate Meals - 2008 93,045 Title IIIC-2 Home Delivered Meals - 2008 93.045 'Title IIIC-1 Congregate Meals - 2007 93.045 Title IIIC-2 Home Delivered Meals - 2007 91045 Total Program Title III-E In-Home Services - 2008 93,052 Title III-E In-Home Services - 2007 93.052 Total Program Passed through Florida Department of Revenue: Child Support Enforcement Title IV-D 91563 Passed through State Department of Community Affairs: Low Income Home Energy Assistance Program - 2008 91568 Low Income Home Energy Assistance Program - 2007 93.568 Total Program Passed through Florida Department of Law Enforcement: ICAC3- Internet Crimes Against Children 93,643 Total Federal Agency Department of Commerce: National Oceanic and Atmospheric Admin, National Ocean Service, National Marine Sanctuary Prog. Passed through the Florida Keys national Marine Sanctuary., Marine Salvage and Response 11,429 The accompanying notes are an integral part of this schedule. 1-5 Contract Grant Number Expenditures U751 6,139 U a851 29,246 35,385 -_ 9,043 AA829 81,493 AA729 27,345 108,838 AA829 95,129 AA829 148, 48 AA729 35,925 AA729 15,825. 295,527 AA829 35,107 AA729 12,763 47e870 CC344 115,835 08EA-7B-11-54-91-919 88,997 07EA-6J-11-54-911-019 33,987 122„894 -- 929 700,927 MC A-2997-041/7512 499,050 (Continued) 1-6 Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance Projects - Continued For the Year Ending September 30, 2008 Federal/State Agency, Pass-through Entity CFDA Federal Program/state Pro"ect Number Department of Justice: Direct Program: Equitable Sharing Agreement 16,000 Bureau of Justice Assistance: Builetproof Vest Partnership Grant 16.607 Passed through Office of the Attorney General: Victims of Crime Acts 16.575 Passed through Florida Department of Law Enforcement: Edward, Byrne Memorial Justice Assistance Grant - Boys & Girls Club- 2008 16,738 Edward Byrne Memorial Justice Assistance Grant- Care Center- 2008 16.738 Edward Byrne Memorial Justice Assistance Grant - MC Educ. Foundation - 2008 16,738 Total Program Residential Substance Abuse Treatment - MC Jail Incarceration Program 16,593 Total Federal Agency Executive Office of the President: Direct Program: High Intensity Drug Trafficking Areas 08.13PMIP586Z High Intensity Drug Trafficking Areas 08.113PMIP598Z High Intensity Drug Trafficking Areas 08.13PPRP578Z High Intensity Drug Trafficking Areas 08.14PMIP58,6Z High Intensity Drug Trafficking Areas 08,13PMIP999Z High Intensity Drug Trafficking Areas 08,14PMIP598Z High Intensity Drug Trafficking Areas 08,14PPRP578Z High Intensity Drug Trafficking Areas 08.15PMIP586Z High Intensity Drug Trafficking Areas 08.15PMIP598Z High Intensity Drug Trafficking Areas 08.15PPRP578Z High Intensity Drug Trafficking Areas 08,16PMIP586Z High Intensity Drug Trafficking Areas 08.16PMIP598Z High Intensity Drug Trafficking Areas 08,16PPRP578Z High Intensity Drug Trafficking Areas 08.17PMIP586Z High Intensity Drug Trafficking Areas 08,17PMIP598Z High Intensity Drug Trafficking Areas 08,17PPRP578Z High Intensity Drug Trafficking Areas 08,18PMIP586Z High Intensity Drug Trafficking Areas 08.18PMIP598Z High Intensity Drug Trafficking Areas 08.18PPRP578Z High Intensity Drug Trafficking Areas 08.14PMIP999Z High Intensity Drug Trafficking Areas 08.14PMIP5980 The accompanying notes are an integral part of this schedule. 1-7 Contract Grant Number Expenditures 33„485 0,179 V7055 299�,793 2008-JAGC-MOOR-1-Q9-016 31,625 2008-JAGC-MO R-2-Q9-017 55,746 2008-JAGC-MO�NWR-3-Q9-189 50,000 137„371 2008-R AT-MO NR-1_Q8-004 50,000 580,828 13PMIIP586Z 16„935 13PMIIP598Z 33„685 13PPRP578Z 430,261 14PMIP586Z 85„365 13PMIP999Z 187,059 14PMIIP598Z 12„651 14PPRP578Z 418,971 15PMIP586Z 405,071 15PM1'P98Z 1 ,819 15PPRP578Z 139,845 16PM1P586Z 581,941 16PMIP598Z 226,515 16PPRP578Z 660„119 17PMIP586Z 5„117,8 7 17PMIP598Z 1,312,657 17PPRP578Z 3,822,064 18PMIP586Z 4,527,965 I8PMIP598Z 1,1142,126 IBPPRP578Z 2,317„737 14PMIP999Z 112„506 14PMIP5980 4,441 (Continued) 1-8 Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance Projects -Continued For the Year Ended September 30, 2008 Federal/State Agency, Pass-through Entity CFDA Federal Program/state Project Number Executive Office of the President Continued: High Intensity Drug Trafficking Areas 08,14PM1P800Z High lntensity Drug Trafficking Areas 018,15PMIP59181Z High Intensity Drug Trafficking Areas 08,15PMIP5981Z High lntensity Drug Trafficking Areas 08,15PMIP5981Z High lntensity Drug Trafficking Areas 08.151PMIP5981Z High lntens4y Drug Trafficking Areas 08.15PMIP5981Z High lntensity Drug Trafficking Areas 08.15PMIP5980 High Intensity Drug Trafficking Areas 08.15PLAP6010Z High Intensity Drug Trafficking Areas 08,16PMII:P5980 Total Federal Agency Department of Transportation: Direct Program: Federal Aviation Administration: Key West AIP-3728 20.106 Key West AlP-3730 20.106 Key West NP-3731 20,106 Key West NP-3732 20.106 Key West AIP-3733 20,106 Key West A,IP-3734 20,106 Key West AIP-3735 20,106 Key West AIP-3736 20,106 Marathon AIP-4422 20,106 Marathon AIP-4423 20.`106 Marathon AIP-4424 20,1106 MarathonAIP-4425 20.106 Total Federal Agency Federal Highway Administration: Passed through State Department of Transportation: Transportation Planning Assistance 20,205 Transportation Planning Program 07-09 20,205 Emergency Relief Program - Hurricane Dennis 20.205 Emergency Relief Program - Hurricane Wilma, Hurricane Katrina, T.S. Rita 20.205 Total Program Passed through Florida Department of''Transportafion: S.T.E.P, Aggressive Driving Project 20.600 Total Federal Agency The accompanying notes are an integral part of this schedule. 1-9 Contract Grant Number Expenditures 14PMIP800Z 32„550 15PMIP5981Z 48,905 15PMIP5981Z 15,168 15PMIP5981Z 3,281 15PMIP5981Z 16„436 15PMIP5981Z 28,385 15PmIP5980 198,055 15PLAP60OZ 374,398 16PM P5980 143,493 2.2,3301,281 3-12-00 7- 28-2006 46,096 3-12-0037.030--2006 35,408 3-12-0037-031-2007 2,561,407 3-12--0037-032-2007 1,041,880 3-12-00 7-033-2007 504,847 3-12-0037-034-2008 1,664,272 3-12-0037-035-2008 21,520 3-12-0037-036-2 08 18,899 3-12-0044-022-2006 21,642 3-12-0044-023-2006 93,832 3-12-0044-024-2007 95,92 3-12-0044-025-2008 4,442 6,1,10,177 FAP 8888-488 21,0110 8887-370 76,82.7 AOZ35 2'24,161 ACC26 1,093,667 1,415,665 C-08-13-24/AP286 177,443 1,593,108 (Continued) 1-10 Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance Projects -Continued For the Year Ended September 30, 2008 Federal/State Agency, Pass-through Entity, CFDA Federal Pro gramlstate Project Number Department of Homeland Security: Passed through State Department of Community Affairs: Public Assistance Programs Hurricane Dennis - FEMA-DR-1595-DR-FL 97,036 Hurricane Katrina - FEMA-DR-1602-FL 97,,036 Hurricane Rita - FEMA-EM-3259-FL 97.036 Hurricane '" ilma- FEMA-DR-1609-FL 97-036 Hurricane Wilma-Sheriff- FEMA-DR-1609-FL 97,036 Hurricane Ike-Sheriff-FEMA-3293-EM-FL 97,036 Total Program Homeland Security/TSA 97,090 Emergency Management Performance Grant 97.042 Homeland Security- 2006 97.067 Passed through the City of Miami: Urban Area Security Initiative Grant Program - 2005 97.067 Urban Area Security Initiative Grant Program - 2006 97,067 Passed through State Department of Law Enforcement:. Law Enforcement Terrorism Prevention 97.067 Total Program Total Federal Agency United States Treasury Department: Equitable Sharing Agreement 2.1,000 Total Expenditures of Federal Awards The, accompanying notes are an integral part of this schedule. 1-11 Contract Graint Number Expenditures 06-DPI-@a G-11-54-01-550 107,169 06-KT-1 &-11-54-0111-51'6 426,048 06-ITT-&W-11-54-01-529 141, 84 06-WL-&K-11-54-01.558 830,377 06-W L-&K-11-54-23-794 145,197 08-PA-00-11-54-13-513 32,179 1,682,654 HSTS0208HSLR360 61,232 08-BG-24-11-54-01-295 29,629 06-DS-3W-11-54-01-309 8,930 06-DS-4H-11-23-02-34 5,986 07-DS-5S-11-23-02-379 495,568 2007-L TP-I ONR-1-Q4-047 100,000 610,484 2,383,999 -- 1,073,450 3,5,257,205 (Continued) I,-12 Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance Projects -Continued For the Year Ended September 30, 2008 CSFA State Agency Number Florida Department of Community Affairs: Emergency Management Preparedness and Assistance Grant 52.008 Florida Department of Children and Families: Community Care for Disabled Adults - 2007 60-008 Criminal Justice, Mental Health & Substance Abuse Reinvestment Grant 60115 Total Department Florida Department of Elder Affairs: Passed through The Alliance for Aging: Home Care for the Elderly- 2007 65-001 Home Care for the Elderly- 2008 65.001 Total Program, Alzheimer's Disease Initiative - 2007 65.004 Alzheirner's Disease Initiative - 2008 65.004 Total Program Community Care for Elderly- 2007 65.010 Community Care for Elderly- 2008 65.010 Total Program Total Department Florida Department of Environmental Protection: Exotic Plant Control Services -- Small Counties, Solid Waste - 2008 37.012 Statewide Surface Water Restoration & Wastewater Projects 37,039 Total Department Florida Department of Health and Rehabilitative Services: EMS County Award-2008 64,005 Florida Department of Juvenile Justice: Intensive Delinquency Diversion Service 80.022 Florida Department of State: State Aid to Libraries 45.030 State Aid to Libraries 45,030 Total Program Tavernier Historic Building Survey 45.031 Total Department Information provided for state financial assistance but not required for federal awards. The accompanying notes are an integral part of this schedule. 1-13, Transfer To Contract Grant Number Expenditures 5ubrecipients* 08B -04-11-54-01-295 $ 102,959 - KG060 59,165 -- LHZ12 19,699 -- 78,864 -- KH772 46,778 -- KH872 9,637 -- 56,4115 -- KZ797 48,401' -_ KZ897 11,537 59,938 -- KC771 477,963 -- KC871 116,825 -- 54,788 711,141 -- PL029 173,949 aC824 277,316 -- LP6803 5,515,933 -- 5,967,198 -- C7044 40„007 -- 1431 130,025 -- 0�7- T-38 5,002 -- 08_ST-38 46,853 -- 51,855 -- F0703 25„000 76„855 -- (Continued) i-14 Monroe County, Florida Schedule of Expenditures of Federal Awards and State Financial Assistance Projects -Continued For the Year Ended September 30, 2�008 CSFA State Agency Number Florida Department of Transportation: Transportation Planning Assistance -- Pigeon Key Ferry Service 55.023 Transportation Planning Program 07-09 55,023 Total Program Key West Airport 55.004 Key West Airport 55.004 Key West & Marathon Airport 55,004 Total Program Total Department Florida Fish &Wildlife Conservation Commission: Boating Improvement Fund 77.006 Florida Housing Finance Corp., State Housing Initiative Program 52.901 State Housing Initiative Program 52,901 State Housing Initiative Program 52.901 Total Department Total Expenditures of State Financial Assistance Information provided,for state financial assistance but not required for federal awards. The accompanying notes are an integral part of this schedule. 1-15 Transfer To Contract Grant Number Expenditures Subreci ients* 25222811403 /Ai893 9,952 - 41454515801 /AQQ11 227,863 -- 2522.2811407 /AQU27 12,805 -- 240,668 _- 41253519401 /ANJ94 10,060 -- 41637719401 /AOC81 6,637,396 -- 25426919402 /AK043 70,9�52 -- 6,718,408 -- 6,969,028 -- -- 399,813 -- SHIP 05-06 PLAN 5 YR 2 991,815 -- SHIP 06-07 PLAN 5 YR 3 601,223 -- SHIP 07-08 PLAN 6 YR 1 1,163,291 -- 2,756,329 -- 17,232,219 -- f-16 Monroe County, Florida Notes to Schedule of Expenditures of Federal Awards and State Financial Assistance Projects For the Year Ended September 30, 2008 Note 1 — Reporting Entity For reporting entity purposes, the Schedule of Federal Awards and State Financial Assistance Projects (the "Schedule") presents the Federal and State grant activity of Monroe County, Florida, (the "County") primary government and its blended component unit. Note 2 — Summary of Significant Accounting Policies The accounting policies and presentation of the Schedule of Expenditures of Federal Awards and State Financial Assistance Projects 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 iinformation in this schedule is presented in accordance with the requirements of OMB Circular A-1 33, Audits of States, Local Governments, and Non-Profit Organizations and the Florida Single Audit Act. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. 1-17 MONROE COUNTY, FLORIDA SCHEDULE OF FINDINGS AND QUESTIONED COSTS FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS For the Year Ended September 30, 2008 PART I - SUMMARY OF AUDITORS' RESULTS 1. The Independent Auditors' Report on the financial statements expresses unqualified opinions. 2. No significant deficiencies relating to the audit of the financial statements are reported in the Independent Auditors' Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements in Accordance with Govern ment Auditing Standards 1 No instances of noncompliance to the financial statements of the County were disclosed during the audit, 4, No significant deficiencies relating to the audit of major federal or state financial assistance projects are reported in the Independent Auditors' Report on: Compliance and Internal Control over Compliance Applicable to each Major Federal Awards Programs and State Financial Assistance Projects. 5. The Independent Auditors' Report on Compliance for each Major Federal Awards Programs and State Financial Assistance Projects expressed an unqualified opinion, 6, No audit findings relative to major Federal Awards Programs for the County are reported in this Schedule. 7. No audit findings relative to major state financial assistance projects for the County are reported in this Schedule, 8. The threshold for distinguishingi Type A and Type B programs/projects was $1,,057,716 for major federal awards programs and $516,967 for major state financial assistance projects. 9. The County qualified as a low-risk audlitee for federal, Single Audit purposes, as that term is defiined in OMB Circular A-1 33. 10. The programs/projects tested as major programs/projects included the following: Federal Pro ar#Mj�_ Federal C�FDA No. FHA- Emergency Relief Program 20,205 Equitable Sharing Agreement 21.000 Hiigh Intensity Drug Trafficking Areas 07,XXX 1-118 MONROE COUNTY, FLOR0A SCHEDULE OF FINDINGS, AND QUESTIONED COSTS FEDERAL AWARDS PROGRAMS AND STATE, FINANCIAL ASSISTANCE PROJECTS For the Year Ended September 30, 2008 PART I -SUMMARY OF AUDITORS' RESULTS (CONTINUED) State PrRiects.-........ State CSFA No. Statewide Surface Water Restoration, & Wastewater Projects 37.03,9 Key West & Marathon Airport -Aviation Development Grant 55,004 PART 11 - FINDINGS - FINANCIAL STATEMENTS None noted, PART III - FINDINGS AND QUESTIONED COSTS -MAJOR FEDERAL AWARDS PROGRAMS None noted. PART IV - FINDINGS AND QUESTIONED COSTS- MAJOR STATE FINANCIAL ASSISTANCE PROJECTS None noted. 1-19 ONROE COUNTY, FLORIDA SUMMARY SCHEDULE OF CORRECTIVE ACTION PLAN FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS For the Year Ended September 30, 2008 There were no Single audit findings for the year ended September 30, 2'008. I-20 MONROE COUNTY, FLORIDA SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS For the Year Ended September 30, 2008 Findingi: 07-1 Florida Department of Transportation Program Name: Key West & Marathon Airport CFSA#; 55.0104 Condition,: The Florida Department of Transportation (FDOT) has numerous guidelines that establish what costs are allowable for FDOT reimbursement. In adldition, the FDOT has numerous guidelines concerning the contracts that FDOT grant recipients have with their vendors, Monroe County submitted Requests for Reimbursement to the FDOT that were rejected because of unallowable costs and compliance issues with vendor contracts. This is due to a lack of internal controls that ensure the contracts between the grant recipients and the vendors, abide to FDOT guidelines. Of the sampled projects, only one Request for Reimbursement was rejected, therefore, this, finding represents an isolated incident. Auditor's Recommendation: We recommend that the requests for reimbursements and vendor contracts are examined and approved by someone who is knowledgeable of FDOT guidelines before the expenses are submitted to the FDOT for reimbursement. Current Status: Due to staffing and personnel changes there were continued problems this year with the reimbursement request process, However, we audited this program in the current year and per our testing, there were no requests for reimbursement that were rejected. 1-21 INDEPENDENT AUDITORS' MANAGEMENT FETTER To the Honorable Mayor and Board of County Commissioners of Monroe County, Florida: We have audited the financial statements of the governmental activities„ the business-type activities, each major fund, and the aggregate remaining fund information of Monroe County, Florida (the "'County") as of and for the year ended September 30 2008, which collectively comprise the Co nty's basic financial statements„ and have issued our report thereon dated' March 30, 2009. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards„ issued by the Comptroller General of the United) States. We have issued) our Independent Auditors' Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial) Statements Performed in Accordance with Government Auditing Standards and our Independent Auditors' Report on Compliance and Internal Control over Compliance with Requirements Applicable to each Major Federal Awards Programs and State (Financial Assistance Projects. Disclosures in these reports„ dated March 30, 2009, should be considered in conjunction with this management. letter. Additionally, our audit was conducted in, accordance with the provisions of Chapter 10.550, Rules of the Auditor General, which governs the conduct of local government entity audits performed in the State of Florida. This letter includes the following information„ which is not. included in the aforemientioned auditors' reports, Section 1g.554(1)(i)1,, Rules of the Auditor General, requires that we determine whether or not corrective actions have been taken to address significant findings and recommendations made in the preceding annual financial audit report, We have addressed the status of findings and recommendations made in the preceding annual financial report in Appendix B attached to thiis letter. Section 10.554(1)(i)2„ Rules of the Auditor Generali, requires our audit to include a review of the provisions of Section 218.145, Florida Statutes, regarding the investment of public funds. In connection with our audit, nothing came to our attention that could cause us to believe that the County was in noncompliance with Section 218,415, Florida Statutes, regarding the investment of public funds. Section 10,554(1)(i)3., Rules of the Auditor General„ requires that we address in the management letter any recommendations to improve the County's financial management, See Appendix A for our recommendation. We did not audit the County's response to this matter, which its also provided in Appendix A, and, accordingly, we express no opinion on it. J_t Section 10,554(1)(i)(4., Rules of the Auditor General, requires that we address violations of provisions of contracts and grant agreements or abuse that have an effect on the financial statements that is, less than material but more than inconsequential. In connection with our audit, we did not have any such findings other than what is noted in the Schedule of Findings and Questioned Costs, Section, 10.554(1)(i)5,, Rules of the Auditor General, provides that the auditor may, based on professional judgment, report the following matters that are inconsequential to the financial statements, considering both quantitative and qualitative factors: (1) violations of laws, regulations, contracts or grant agreements, or abuse that have occurred, or are likely to have occurred, and (2) control deficiencies that are not significant deficiencies, including, but not limited to; (a) improper or inadequate accounting procedures (e,g,, the omission of required disclosures from the financial statements); (b) failures to properly record financial transactions; and (c) inaccuracies, shortages, defalcations, and instances of fraud discovered by, or that come to the attention of the auditor. In connection with our audit, we did not have any such findings. Section 10,554(1)(i)6., Rules of the Auditor General, requires that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in the management letter, unless disclosed in the notes, to the financial statements. The County was established by Laws of Florida 711-616. The County has, disclosed each component unit in the notes to the financial statements. Section 10.554(1)(i)7.a., Rules of the Auditor General, requires that a statement be included as to whether or not the local government entity has met one or more conditions described in Section 218.503(1), Florida Statutes, and identification of the specific condition(s) met. In connection with our audit, we determined that the County did not meet any of the conditions described in Section 218,503(1), Florida Statutes, Section 110,554(1)(i)7.b., Rules of the Auditor General, requires that we determine whether the annual financial report for the County for the fiscal year ended September 30, 2008, filled with the Florida Department of Financial Services pursuant to Section 218.32(1)(a), Florida Statutes, is in agreement with the annual financial audit report for the fiscal year ended September 30, 2008. Our comparison of the financial report filed by the County with the Florida Department of Financial Services to the County's 2008 audited financial statements resulted in no material differences. Pursuant to Section 10.554(1)(h)7.c. and 10.556(7), Rules of the Auditor General, we applied financial condition assessment procedures. 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 management, The results of our financial condition assessment procedures disclosed no deteriorating financial conditions, This management letter is intended solely for the information and use of management, the County Mayor and the Board of County Commissioners of Monroe County, Florida, the State of Florida Office of the Auditor General, and applicable federal and state agencies and is not intended! to be and should not be used by anyone other than those specified parties. CHERRY, BEKAERT & HOLLAND, L.L.P. Orlando, Florida March 30, 2009 1-2 MONROE COUNTY, FLORIDA Management Letter Comments (Current Year) -Appendix A Safeguarding of Assets Observation: During our audit of the Airport's grants, we became aware that certain eligible expenditures of the Key West International Airport were not included in the reimbursement requests. This is due to the fact that the individual preparing the reimbursement requests was not aware of the eligibility of these expenses. As a result, the Key West International Airport did not receive available sources of funding in a timely manner, It is essential that the County utilize available sources of funding for reimbursable expenditures. Recommendation: We recommend that the County create internal control policies that ensure reimbursements of all eligible expenses are obtained in a timely manner. Management Response: The Airport will review grant reimbursement guidelines and put in place internal airport reimbursement policies to ensure that all eligible expenditures are included in the reimbursement requests, j-3 MONROE COUNTY, FLORIDA Management Letter Comments (Prior Year) -Appendix B In the past two fiscal years, expenditures have exceeded revenues in the General Fund. This is due to the fact, the County had limited sources of revenue and increasing operating and capital expenidlitures, Thus, the uinireserved fund balance in the General Fund has, decreased over the past two fiscal years in excess of 13.,5 mililion dollars, which is close to half of the fiscal year end September 30, 2005 balance, The County's geographic location is prone to natural disasters such as hurricanes, If a major disaster were to strike the County, the fund balance would likely be insufficient to cover both routine and non-routine expenditures associated with the natural disaster, We recommend that the County re-evaluate operations and approve, in fiscal year 2008, either a short term or long term administrative plan to re-evaluate resources and/or reduce costs in order to re-stabilize the County's fund balance. Current year follow-up: Management implemented aggressive corrective measures to stabilize the General Fund during fiscal year 2008. Significant expenditure cuts resulted in a net increase of 2A million dollars for the fiscal year ending September 30, 2008, During the development of the fiscal year 2009 budget, additional actions were taken to increase revenue and control operational cost increases that should have a positive impact on the fund balance by another 4 million dollars at fiscal year end. Safeguarding of Assets During our audit of the, Airport's grants, we became aware that excessive time delays occurred between the date of the expenditure and the date of the related reimbursement request or draw- down, This is due to the fact that controls do not exist to ensure that minimal time elapses between the expenditure date and the reimbursement date. Thus, the Key West International Airport does not receive available sources of funding in, a timely manner. It is essential that the County, utilize available sources of funding for reimbursable expenditures in a timely manner. In the current fiscal year, the Airport did not have sufficient cash or working capital to cover their portion of the County's Indirect Cost Allocation Plan. We recommend that the County create internal policies that ensure reimbursements are obtained in a,timely manner. Current year follow-up: Due to staffing and personnel changes there were continued problems this year with the reimbursement request process, However, the airport staff has worked diligently to catch up on FDOT and FAA requests and believe they are currently up to date. J-4