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Fiscal Year 2011
Monroe Covnty, Ftbrida omyrehe live Annual FinanciaCAe ort For the FiscaC year Ended September 30,, 2011 MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR. ENDED SEPTEMBER 30, 2011 DANNY L. KCLHAGE CLERK OF THE CIRCUIT COURT PREPARED BY: CLERK OF THE CIRCUIT COURT FINANCE DEPARTMENT SANDRA CARLILE FINANCE DIRECTOR MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011 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 - C13 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 E1 - E2 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Assets E3 Statement of Revenues, Expenditures and Changes in 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 Comprehensive Plan Land Authority Fund E18 Statement of Net Assets - Proprietary Funds E19 - E22 Statement of Revenues, Expenses and Changes in Fund Net Assets - Proprietary Funds E23 - E24 Statement of Cash Flows - Proprietary Funds E25 - E28 Statement of Fiduciary Net Assets - Fiduciary Funds E29 Statement of Changes in Fiduciary Net Assets - Fiduciary Funds E30 Notes to the Financial Statements F1 - F38 Combining and Individual Fund Statements and Schedules: Combining Balance Sheet - NonMajor Governmental Funds G1 - G12 Combining Statement of Revenues, Expenditures and Changes in Fund Balances -NonMajor Governmental Funds G13 - G24 Schedules of Revenues, Expenditures and Changes in Fund Balances-Budget and Actual Special Revenue Funds: Affordable Housing Programs G25 Road and Bridge Fund G26 MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011 PAGE Tourist Development, All Districts, Two Cent G27 Tourist Development, Administration and Promotional, Two Cent G28 Tourist Development, District #One G29 Tourist Development, District #Two G30 Tourist Development, District #Three G31 Tourist Development, District #Four G32 Tourist Development, District #Five G33 Impact Fees - Roadways G34 Impact Fees - Parks and Recreation G35 Impact Fees - Libraries G36 Impact Fees - Solid Waste G37 Impact Fees - Police Facilities G38 Impact Fees - Fire and EMS G39 Impact Fees - Employee Fair Share Housing G40 Fire and Ambulance, District #1 - Lower and Middle Keys G41 Upper Keys Health Care Special Taxing District G42 Unincorporated Area Service District - Parks and Recreation G43 Unincorporated Area Service District - Planning, Building and Zoning G44 - G45 Local Housing Assistance G46 Municipal Policing G47 911 Enhancement Fees G48 Duck Key Security District G49 Boating Improvement G50 Miscellaneous Special Revenue G51 - G52 Environmental Restoration G53 Law Enforcement Trust G54 Court Facility Fees G55 Drug Abuse Trust G56 Marathon Municipal Service Taxing Unit G57 Bay Point Municipal Service Taxing Unit G58 Big Coppitt Municipal Service Taxing Unit G59 Key Largo Municipal Service Taxing Unit G60 Stock Island Wastewater G61 Cudjoe-Sugarloaf Municipal Service Taxing Unit G62 Conch Key Municipal Service Taxing Unit G63 Long Key-Layton Municipal Service Taxing Unit G64 Duck Key Municipal Service Taxing Unit G65 Building Fund G66 Sheriff's Teen Court G67 Sheriff's Federal Forfeiture G68 Sheriff's State Forfeiture G69 Sheriff's Contract Administration G70 Sheriff's Commissary G71 Sheriff's Interagency Communications G72 Sheriff's Trauma Star G73 Sheriff's Radio Communications G74 MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011 PAGE Sheriff's Grants G75 Sheriff's Shared Asset Forfeiture G76 Sheriff's South Florida Law Enforcement Trust G77 Sheriff's E911 G78 Clerk's Records Modernization G79 Clerk's Court Related G80 Schedules of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Major Governmental Funds: One Cent Infrastructure Surtax Capital Project Fund G81 Infrastructure Sales Surtax Revenue Bonds, Series 2007 Capital Projects Fund G82 All Debt Service Funds G83 Combining Statement of Net Assets - Internal Service Funds G84 - G85 Combining Statement of Revenues, Expenses and Changes in Fund Net Assets - Internal Service Funds G86 - G87 Combining Statement of Cash Flows - Internal Service Funds G88 - G91 Combining Statement of Fiduciary Net Assets - All Agency Funds G92 Combining Statement of Changes in Fiduciary Net Assets -All Agency Funds G93 - G94 STATISTICAL SECTION Introduction H1 Net Assets by Component H2 Changes in Net Assets H3-H5 Governmental Activities Tax Revenues By Source H6 Fund Balances of Governmental Funds H7 Changes in Fund Balances of Governmental Funds H8-H9 General Governmental Tax Revenues By Source H10 Assessed Value and Estimated Actual Value of Taxable Property H11 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 Operating Indicators by Function H24 Capital Asset Statistics by Function H25 MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011 PAGE 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 With Requirements That Could Have a 13-14 Direct and Material Effect on Each Major Federal Awards Program and State Financial Assistance Project and on Internal Control Over Compliance in Accordance with OMB Circular A-133 and Chapter 10.550, Rules of the Auditor General 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 Schedule of Findings and Questioned Costs - Federal Awards Programs and State 118-119 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-J2 MONROE COUNTY COURTHOUSE BRANCH OFFICE: pOUN7 500 WHITEHEAD STREET,SUITE 101 ,�ib .�.o`�co PLANTATION KEY KEY WEST,FLORIDA 33040 GOVERNMENT CENTER TEL. (305)294-4641 * * 88820 OVERSEAS HIGHWAY FAX (305) 295-3663 =. PLANTATION KEY,FLORIDA 33070 TEL. (305)852-7145 BRANCH OFFICE: o}4��OUNT��~o� FAX(305)852-7146 MARATHON SUB COURTHOUSE 3117 OVERSEAs HIGHWAY CLERK OF THE CIRCUIT COURT ROTH BUILDING MARATHON,FLORIDA 33050 50 HIGH POINT ROAD TEL. (305)289-6027 MONROE COUNTY PLANTATION KEY,FLORIDA 33070 FAX (305)289-1745 www.clerk-of-the-court.com TEL.(305)852-7145 FAX (305)853-7440 March 31, 2012 The Honorable David Rice Mayor, Board of County Commissioners Monroe County, Florida Dear Mayor Rice: It is our pleasure to present to you, the Board of County Commissioners and the citizens, the Mon- roe County, Florida Comprehensive Annual Financial Report (CAFR) for the fiscal year ended September 30, 2011. 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 OMB 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 completeness and fairness of the presentation, including all disclosures, rests 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 comprehensive internal control framework that is designed both to protect the County's assets from loss, theft or misuse and to compile sufficient reliable accounting information for financial statement preparation in conformity with United States generally accepted accounting principles (GAAP) established by the Government Accounting Standards Board. Be- 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 & Holland, L.L.P. have issued an unqualified ("clean") opinion on the Monroe County, Florida financial statements for the year ended September 30, 2011. The independent auditors' report is located at the front of the financial section of this report. 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- A-1 vial 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 1828. 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 medical services, park and recreational services, solid waste services, airport services and other governmental services. Reporting Entity For financial reporting purposes, the County's reporting entity consists of the Board of County Commissioners, the Constitutional Officers and the Monroe County Comprehensive Plan Land Au- thority. The Monroe County Comprehensive Plan Land Authority is legally separate, but in sub- stance part of Monroe County's operations and a part of the County's financial responsibilities. Ac- cordingly, it is reported as a blended component unit. 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. Budget 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. Constitutional officers funded by the Board must submit their budgets by June 1 of each year. Monroe County follows the laws of Florida regarding the control, adoption and amendment of the budget during each fis- cal year. The Board conducts budget meetings on departmental budgets and constitutional officer requests. Based on the information presented at the meetings, a tentative budget is presented to the public by Board resolution. The public then responds to the tentative budget at public hear- ings, A final public hearing is then held and the final budget is adopted. The County Commission has increased the level of budgetary control by requiring a County Commission resolution for all cost center(departmental) budgetary changes. Economic Condition Local Economy 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 in the hospitality industry. Airplane passenger arrivals in- A-2 creased from 2010 by 32.8%. Tourist and recreational sales have increased by 11.0% and hotel room rental revenue has increased by 17.5%. The 2011 tax roll assessed in 2010 decreased 12.4% from the prior year. The nationwide real es- tate market in 2011 has experienced further decline and Monroe County experienced a similar de- cline. However, over a ten year period, property tax collections have risen 43.9% and the total as- sessed value of taxable property has increased 72.7%. All taxable sales have increased 9.0% from 2010 levels. It appears that the local economy is beginning to show some signs of recovery, held back by the real estate market. The County's unemployment rate of 6.4% at September 30, 2011 is below the state and stational rates of 9.9% and 8.5%, respectively. Local revenues and expenditures continue to be affected by intergovernmental pressures from re- duced state aid, lack of funding for state-mandated programs and services, property tax reform, the national economic downturn, higher property insurance costs, and the increased demands for stronger public safety services, affordable health insurance, indigent medical care, social services and affordable housing. Lon -term Financial Planning The County has developed the Monroe County Year 2010 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 drainage; natural groundwater aquifer recharge; recreation and open space; intergovernmental coordination; capital improvements; and cultural resources. The County continues to evaluate and update its Compre- hensive Plan. The sanitary sewer or wastewater component of the Comprehensive Plan addresses an unfunded mandate from the Mate to improve water quality in the Florida Keys by replacing cesspits and sep- tic systems with a series of central wastewater collection and treatment systems. The County has completed most of its service area with the exception of the Cud oe Regional project which in- cludes Sugarloaf Key, Summerland Key, Cudjoe Key and Big Piste Key. Construction costs are presently expected to be approximately $150,000,000. Until the funding is in place, the project is on hold. The County is presently pursuing state grants and loans. The County is also considering the issuance of revenue bonds collateralized by the local infrastructure sales tax. This sales tax is set to expire January 1, 2018 and public approval for its extension will be placed on the 2012 Pres- idential ballot, Although most of the County's capital project funds are committed to the wastewater project, the County is assembling the funding to bring all facilities in compliance with the American Disabilities Act over the next five years. It is the County's intention to secure grant funding to accomplish this goal. The County is balancing the use of ad valorem tax revenues with the maintenance of General Fund reserves used to insulate the General Fund from revenue fluctuations due to disasters of any kind and provide adequate working capital for operations, The Board continues to respond to the tangoing economic conditions by maintaining rigorous cost controls, carefully analyzing the need for each replacement or addition of staff positions, renegotiating contracts, and scrutinizing the cast benefit of outside contractors. The Board continues to focus on its efforts to balance casts, services to Monroe County citizens, and reductions in its revenue base, The County provides health care coverage for 375 retirees. The Board has reviewed estimates of the unfunded cost for future years' benefits, and staff is developing strategies to manage the fi- A-3 nancial impact to the County. As the actual versus expected cost of retiree health care coverage is monitored, provisions of the plan may be modified as part of the management strategy. Relevant Financial Policies The Board's financial policies conform to the requirements of Florida Statutes and accounting prin- ciples generally accepted in the United States. The last update to the Board's financial policies occurred during 2008, when 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 previ- ous policy of 77.5% of estimated fund balance. In addition, 95% of the fund balance in the One Cent Infrastructure Surtax Fund may be appropriated. Maior Initiatives The Big Coppitt Regional wastewater treatment system, which comprisees a significant portion of the wastewater project as a whole, was completed in 2011. The project was financed with a loan and grants from the Florida Department of Environmental Protection, local sales tax revenues and assessments paid by property owners in the area. The Florida Keys Municipal service taxing districts have been created to support the cast of wastewater projects in Conch Key, Bay Point, Big Coppitt, Key Largo, Stock Island, Cudjoe and Sugarloaf Keys, Long Key-Layton, and Duck Key. The Duck Key and Key Largo wastewater pro- jects are under construction. The Cudjoe Regional project has been suspended until sufficient funding for the project is in place. The Stock Island, Bay Point, City of Layton, Key Colony Beach, Little Venice, Conch Key and Big Coppitt Regional projects have been completed. The wastewater projects planned and in process will be funded as construction progresses by grants, capital project funds, debt proceeds and property owner assessments. The County improved its airport facilities this year by the substantial completion of a runway safety area, which provides additional landing area needed in the event of mechanical malfunction or pilot error. The runway safety area project was funded by federal grants, passenger facility fees, and local funding. Recently, the new runway safety area was credited with saving nine lives. The County continues to stimulate the local economy by maintaining increased advertising efforts over those in place before the economic downturn, particularly in the lower and middle keys. The increased costs are funded by an increase in Tourist Development taxes initiated late in 2009. 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, 2010. This was the twenty third consecutive year that the government has achieved this prestigious award. In or- der to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both U.S. generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe that our current comprehensive annual financial report continues to meet the Certificate of Achievement Program's requirements and we are submitting it to the GFOA to determine its eligibility for another certifi- cate. The County also submits its budget document to GFOA, and has received GFOA's Distinguished Budget Presentation Award for thirteen years. A-4 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 & Holland, L.LP. for their outstanding efforts and assistance. In closing, we thank the County Commissioners for their interest and support to us throughout the year. Sincerely, a. anny L. Kolhage Sandra Garble Clerk of the Circuit Court Finance Director and Chief Financial Officer A-a Certificate of Achievement for :excellence 0 in Financial Reporting Praented to Monroe County Florida For its Comprehensive Anne Fcial Report for the Fiscal Year Ended September 30, 2010 A Cwtfic&W of Acbiamwo for EXCO)nwe in Fb=cW ftardag is pm=UW by the Covert Fhwm Of icara Amochdion of the Unitad States and Canada to gova nacaat Uwta Sad public=4**W systma wbow cmpaiwasive sm dal nTmu(CAFRs)achicm the hgox x ftndUdS IU S9's=M*g WAXP� aacl dial x . cum President Executive Director A-S MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS DAVID RICE, MAYOR DISTRICT 4 KIM WIOINGTON GEORGE NUEOENT DISTRICT 1 DISTRICT 2 HEATHER CARRU"I'HERS SYLVIA MURPHY DISTRICT 3 DISTRICT 5 COUNTY ADMINISTRATOR ROMAN GASTES I CLERK OF THE CIRCUIT COURT AND CHIEF FINANCIAL OFFICER DANNY L. KOLHACE A-7 Ell all : ll a w al PAC via q W A-8 FiLS ACCOUNTANTS7151691 CERTIFIED PUBLIC O NSLLTANTS 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, 2011, 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 management. Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and 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. As discussed in Notes 1 and 18 to the financial statements, the County has adopted the provisions of Government Accounting Standards Board Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions, for the year ended September 30, 2011. 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 major fund, and the aggregate remaining fund information of the County as of September 30, 2011, 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, HIDTA Grants Fund, and Comprehensive Land Authority Fund for the year then ended in conformity with accounting principles generally accepted in the United States of America. In accordance with Government Auditing Standards, we have also issued our report dated March 31, 2012 on our consideration of the County's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is 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. B-1 The management's discussion and analysis 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 audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the County's basic financial statements. The introductory section, combining and individual fund statements and schedules 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 Assistance 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 financial statements and, in our opinion, are fairly presented in all material respects in relation to the financial statements taken as a whole. The introductory and statistical sections have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we express no opinion on them. Orlando, Florida March 31, 2012 B-2 Management's Discussion and Analysis As Finance Department management under the direction of the Chief Financial Officer and Cleric 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, 2011. 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 assets exceeded its liabilities at September 30, 2011 by $542,688,761, an increase of $19,172,272, Net assets for governmental activities were $439,370,514 and $103,318,247 for business-type activities. • Unrestricted net assets, available for Monroe County's ongoing obligations to citizens and creditors were $68,778,216, a decrease of $87,666,590. GASB 54, Fund Balance Reporting and Governmental Fund Type Definitions was implemented this year. The accounting pronouncement made significant changes in the definition of restricted and unrestricted resources_ Governmental activity unrestricted net assets were $53,701,325. Business-type activity unrestricted net assets were $15,076,891. • At September 30, 2011, Monroe County's governmental funds statement reported combined ending fund balances of $193,559,982, an increase of $16,098,746 over the previous fiscal year. • The General Fund reported an unassigned fund balance of $27,557,693. The General Fund also reported a total fund balance of $37,334,692, an increase from the last fiscal year of $3,817,970. The County experienced a favorable General Fund budget variance, mostly attributable to lower than anticipated expenditures. • Bonded debt and loans of Monroe County decreased $10,647,159 in 2011. Monroe County's percentage of bonded debt and loans compared to net assets decreased from 11,5%to 9.9%, 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 liabilities at September 30, 2011, The difference between these assets and liabilities is reported as net assets. Changes in net assets over C-1 time may be indicative of an improving or deteriorating financial position. Net assets are reported in three categories: 1) invested in capital assets, net of related debt, 2) restricted, and 3) unrestricted. The Statement of Activities, which follows the Statement of Net Assets, presents information showing how the net assets changed during fiscal year 2011. 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 will 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 (business-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-related legal requirements. 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-18 of this report. It can be useful to compare the information presented for the governmental funds with similar information presented for governmental activities in the government-wide statements. Therefore, reconciliations are provided as a link between both the governmental fund statements and the government-wide statements to assist in this comparison. 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, four Special Revenue Funds: Fine and Forfeiture, Governmental Grants, HIDTA Grants and the Comprehensive Plan Land Authority, the Debt Service fund and two capital project funds: One Cent Infrastructure Surtax and Infrastructure Sales Surtax Revenue Bonds, Series 2007. 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 g through E-28 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 non-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 government-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-29 through E-30 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 govemment-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 N page section and the Single Audit Section in the I page section of this report. 4 C-3 d e Government-Wide Financial Analysis Monroe County Net Assets tin thousands) Governmental Business-type Total Primary Activities Activities Government 2011 2010 2011 2010 2011 2010 Current and Other Assets $238,464 $226,443 $30,894 $32,973 $269,358 $259,416 Capital Assets 296,923 293,755 88,255 89,104 385,178 382,859 Total Assets 53�87 5202198_ 119,149 122,077 654,536 842,276 Current lather Liabilities 26,675 27,992 4,860 6,705 31,535 34,697 Long-Term Liabilities 69,341 69,799 10,971 14,263 80,312 84,062 Total Liabilities 96,016 97,791 15,831 20,968 111,847 116.759 Net Assets: Invested in Capital Assets, Net of Related Debt 262,950 255,014 79,303 74,034 342.253 329,048 Restricted 122,720 28,567 8,938 9,456 131,658 38,023 Unrestricted 53,701 138,826 15,077 17,619 68,778 156,445 Total Net Assets $439,371 $422,407 $103,318 $101,109 $542,689 $523,516 The overall financial position of Monroe County improved in both fiscal years 2011 and 2010. Changes in net assets over time can be one of the best and most useful indicators of a government's financial position. Monroe County's change in net assets for the fiscal years ending 2011 and 2010 were $19,172,272 and $12,500,303, respectively. The 2011 increase in net assets was $6,671,969 more than the prior year. The largest portion of net assets for 2011 and 2010 is Monroe County's investment in capital assets (e.g.„ land and depreciated buildings, infrastructure and equipment) less any outstanding debt related to their acquisition. This category represents 63.1% and 62.9% of total primary government net assets for fiscal years 2011 and 2010. Monroe County uses these capital assets to provide services to citizens; consequently, 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 external restriction on how they may be used. The restrictions reported for business-type activities are comprised of the landfill 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. Current and other assets increased in 2011 due to favorable budget variances and the collection of grant receivables and ether amounts due from other governments. The increases in current and other assets were offset by the use of restricted assets for their intended purposes and the early retirement of long terra debt. C-4 The increase in capital assets reflects the County's ongoing commitment of resources to the wastewater improvement construction. The County also continues to construct improvements to public facilities such as administrative buildings and fire stations. The completion of construction projects and the timing of payables processing reduced the amount of current and other liabilities in 2011. Long term debt was reduced pursuant to scheduled retirements and early retirements of debt incurred for the construction of the Big Coppitt wastewater project and the Key West Airport Terminal. The County is using every available source of Key West Airport funds to retire the Key West Airport Revenue Bonds as soon as possible. Other post employment benefits continue to increase the County's long term liabilities. The County has terminated the benefit for employees hired on or after October 1, 2001 and is developing strategies to manage the fiscal impact to the County. 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 Business-type Activities Activities 2011 2010 2011 2010 Current Assets $229,574 $217,475 $ 21,270 $ 22,806 Current Liabilities $ 26,675 $ 27,992 $ 4,860 $ 6,704 Ratio of Current Assets to Current Liabilities 8.61 7.77 4,38 140 The schedule above demonstrates that Monroe County has more than adequate cash flows. C-5 Monroe County Changes in Net Assets (in thousands) Governmental Business-type Total Primary Activities Activities Government 2011 2010 2011 2010 2011 2010 Revenues: Charges for Services $25,846 $ 22,881 $25,355 $ 25,252 $51,201 $ 48,133 Operating Grants and Contributions 30,949 32,011 3.438 3,973 34,387 35,984 Capital Grants and Contributions 3,877 4,991 1,272 2,849 5,149 7,840 General Revenues: Property Taxes 78,493 81,685 - - 78,493 81,685 Other Taxes 56,457 50,813 - - 56,457 50,813 State Revenue Sharing 3,277 5,459 - - 3,277 5,459 Investment Income 1,699 2,179 351 312 2,050 2,491 Miscellaneous 3,786 1,940 13 12 3,799 1,952 Total Revenues 204,384 201,959 30,429 32,398 234,813 234,357 Expenses: General Government 35,084 36,176 - - 35,084 36,176 Public Safety 97,858 97,642 - - 97,858 97,642 Physical Environment 3,801 5,781 - - 3,801 5,781 Transportation 5,359 5,394 - - 5,359 5,394 Economic Environment 20,748 21,843 20,748 21,843 Human Services 8,878 9,432 - - 8,878 9,432 Culture and _ Recreation 4,719 5,051 4,719 5,051 Court Related 9,489 9,439 - - 9,489 9,439 Interest on Long-Term Debt 1,789 2,230 1,789 2,230 Solid Waste - - 15,522 15,681 15,522 15,681 Toll Bridge - - 1,342 1,358 1,342 1,358 Key West Airport - - 9,092 10,077 9,092 10,077 Marathon Airport - - 1,959 1,753 1,959 1,753 Total Expenses 187,725 192,988 27,915 28,869 215,640 221,857 Change in Net Assets Before Transfers 16,659 8,971 2,514 3,529 19,173 12,500 Transfers 305 362 (305) (362) - - Change in Net Assets 16,964 9,333 2,209 3,167 19,173 12,500 Net Assets, Beginning 422,407 413,074 101,109 97,942 523,516 511,016 Net Assets, Ending $439,371 $422,407 $103,318 $101,109 $542,689 $523,516 Governmental Activities The graph on the next page represents a comparison of program revenues to program expenses for governmental activities in fiscal years 2011 and 2010. It is apparent from these graphs that general revenues were required to cover expenses in each of the functions noted. C-6 Monroe County, Florida Governmental Activities (in Millions) For the year ended September 30, 2011 ■Program Revenues 0 Program Expenses 97.9 100.0 80.0 60.0 35Z ao.o 35.1 2t}.7 20.0 11.9 8.9 9.5 .. 1.9 3.$ 1.4 5,4 1 1.8 0,5 A-7 6.1 (),0 none= �p 0 m m w n U} = a tD A? ro _ n�i .. M The largest revenue sources for governmental activities in 2011 are property taxes in the amount of $78,492,821 and all other taxes totaling $56,457,295. Total taxes of $134,950,116 amounted to 66.0% of Monroe County's governmental activity revenues excluding transfers. The second largest revenue source is operating grants at 15.1% of governmental activity revenues excluding transfers. The 2011 graph identifies the largest expense function as public safety amounting to $97,858,383. This is 52.1% of the total expenses for governmental activities. The second largest function is general government in the amount of$35,083,581 or 18.7% 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. Monroe County, Florida Governmental Activities (in Millions) For the year ended September 30, 2010 0 Program Revenues 0 Program Expenses 97.6 100.0 80-0 60.0 40, 36.2 35. ., . 21.8 20.0 11 ,f 2.8 5.B to . 0.9 �4 2 Q.3 .4 9.d 5.1 5.7 9.�V 0.[} G) M m m cn 7q C7 Cr 0 2 � m � � n' � �" is � n ' M SR ! � CAD 3 C3 ° O fD C-7 The largest revenue sources for governmental activities in 2010 are property taxes in the amount of $81,685,080 and all other taxes totaling $50,813,024. Total taxes of $132,498,104 amounted to 65.6% of Monroe County's governmental activity revenues excluding transfers. The second largest revenue source is operating grants at 15.9% of governmental activity revenues excluding transfers. The 2010 graph identifies the largest expense function as public safety amounting to $97,642,007. This is 50.6% of the total expenses for governmental activities. The second largest function is general government in the amount of $36,175,812 or 18.8% of total expenses for governmental activities. The general government expenses include the Tax Collector, Property Appraiser, Clerk of the Circuit Court, and the Supervisor of Elections. Business Type Activities The purpose of proprietary funds is to recover the majority of costs incurred in providing a service through user fees and charges for that service. Charges for services revenues in 2011 amount to $25,355,347 or 83.3% 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 2,513,214. The change in net assets in 2011 was $2,208,585. This represents a decrease of $958,503 from the prior year, mostly attributable to capital grants used in the prior year to fund the construction of the runway safety project, and operating grants used to fund airport noise improvement projects. The decreases were offset by new operating grants for airport security. Financial Analysis of Monroe County's Funds Governmental Funds Governmental funds provide information on near-term inflows, outflows, and balances of spendable resources. In assessing Monroe County's financing requirements, unassigned fund balance represents the County's net resources available for spending at the end of the fiscal year. The governmental fund types include the general fund, special revenue, debt service and capital project funds. As mentioned earlier in the Financial Highlights, [Monroe County's governmental funds reported combined fund balances of $193,559,982 at the end of the current fiscal year. This represents a 9.1% increase from the prier year. Governmental funds held nonspendable, restricted, committed or assigned amounts totaling $166,002,289 to reflect the various constraints placed on those resources for future use. Such amounts include $8,379,451 for nonspendable amounts, primarily due to mortgages held by the Comprehensive Plan Land Authority to further affordable housing initiatives. The General Fund is the chief operating fund of Monroe County and automatically, one of Monroe County's major funds. At September 30, 2011, total fund balance in the General Fund was $37,334,692, an increase of $3,817,970 from the prior year. The unassigned portion of the General Fund fund balance is $27,557,693 or 73.8%,Total revenues decreased $816,310 or 2.1% from the previous year. Revenue from taxes decreased $1,736,620 due to a decision by the Board of County Commissioners to levy lower ad valorem taxes which are based on property values. The decrease in tax revenues was offset by the receipt of a $1,141,024 settlement concerning sales taxes on internet sales. Expenditures increased $1,201,501 or 1.55%. The County settled a dispute over its responsibilities for Medicaid claims for approximately $625,000 and Sheriff public safety costs increased approximately $924,000 to cover the costs of additional compensation to bargaining unit { personnel and changes in retirement contributions required by the Florida R tirement System. f V i -8 1 V p� t Other Maior Fund Information (in thousands) Fine and Forfeiture Governmental Grants HIDTA Grants 2011 2010 2011 2010 2011 2010 Revenues and Other Sources $46,372 $46,887 $ 7,369 $ 7,566 $ 20,447 $ 20,309 Expenses and Other Uses 44,680 45,265 5,869 9,077 20,447 20,309 Increase/(Decrease) in Fund Balance $ 1,692 $ 1,622 $ 1,500 $(1,511) $ - $ - Comprehensive Plan One Cent Land Authority Infrastructure Surtax 2011 2010 2011 2010 Revenues and Other Sources $ 3,344 $ 3,424 $ 15,529 $ 14,536 Expenses and Other Uses 963 1,022 14,939 9,032 Increase/(Decrease)in Fund Balance $ 2,381 $ 2,402 $ 590 $ 5,604 Infrastructure Sales Surtax Revenue Bonds Series 2007 Debt Service 2011 2010 2011 2010 Revenues and Other Sources $ 44 $ 63 $ 13,608 $ 26,571 Expenses and Other Uses 2,276 2,683 13,504 27,910 Increase/(Decrease) in Fund Balance $(2,232) $(2,620) $ 104 $ (1,339) Fine and Forfeiture Special Revenue Fund Ad valorem taxes decreased due to the Board of County Commissioners' decision to levy less taxes. However, the Sheriff held successful negotiations with the Immigration and Customs Division of Homeland Security for the use of the Monroe County Detention Center as its primary female housing facility, thereby increasing revenues. Air ambulance revenues also increased. Expenditures were stable, with the exception of rising insurance costs. Governmental Grants Special Revenue Fund Grant revenues and expenditures decreased as waste water projects move toward completion. The County also completed a windproofing project in the prior year which was funded by the Department of Homeland Security. In addition, significant expenditures were incurred in the prior year for deferred clean up costs caused by Hurricane Rita while the related revenues were recognized in the current year due to revenue recognition criteria. HIDTA Grants Special Revenue Fund This fund is used to account for reimbursement grants funded by the U.S. Department of Justice to fight drug trafficking. The volume of revenues and expenditures has not significantly changed as programs established by the grantor have been continued. C-9 Comprehensive Plan Land Authority SpecialRevenue Fund Revenues and expenses decreased because there were no donations or sales of land in the current year. Revenues from tourist impact taxes, grants, and land contributions increased from the prior years. One Cent Infrastructure Surtax Capital Pro*ects Fund The citizens of Monroe County approved a one cent sales surtax, which is the main revenue source in the fund. The predominant factor in the revenues increase was an increase in sales tax revenues. The net change in revenues included a decrease in transfers from the Governmental Grants fund for grant projects completed in the prior year. Expenditures increased during the current year to early retire debt associated with waste water projects and to fund construction costs for the Duck Key portion of the waste water improvement project. Infrastructure Revenue Bonds, Series 2007 Capital Pro*ects Fund In 2007, Monroe County issued $29,415,000 in Revenue Bonds to be paid from one cent sales surtax revenues. Revenues in the current year were limited to investment revenues which have dropped as bond proceeds are used and interest rates continue to drop. Total expenditures were roughly the same for the current and prior year. However, the ongoing Key Largo wastewater construction incurred less expenditures during the year, while expenditures for the new Stock Island Fire Station increased. Debt Service The County is required to build a wastewater collection system for the Florida Keys. As part of the financing plan for one phase of construction costs, the County secured interim financing through the Florida Rural Utility Financing Commission. During the prior year, the County secured permanent financing through the Florida Department of Environmental Protection's Clean Water State Revolving Loan Fund and retired the interim financing. Proprietary Funds Proprietary fund statements provide the same information as in the business-type activities column of the government-wide statements, but in greater detail and on a fund basis for enterprise funds and internal service funds. The Municipal Service District-Waste Enterprise Fund maintains Monroe County's landfills and transfer sites. Monroe County continues to outsource the waste haul-out services through a major contract. This fund normally receives a recycling grant which was not collected this year due to changes in grantor procedures. In addition, revenues from service fees are slightly less than the prior year. The change in service revenues is attributed to an improvement in the County's rate of recycling. In 2008, citizens recycled 6% of waste. In 2011, it is estimated that citizens recycle 25% of waste. The Monroe County, Florida Solid Waste Disposal System Refunding Revenue Note, Series 2002 was fully retired in fiscal year 2011 and the revenues are no longer pledged. The decrease in revenues was offset by a decrease in the cost of operations. Card Sound Bridge Enterprise Fund The Bridge is an alternative route to the "Eighteen Mile Stretch." Revenues from tolls declined which is attributed to the difficult economy. Investment revenues are also less due to the drop in interest rates. The Key West Airport Enterprise Fund Revenues from capital grants declined because the runway safety construction project was completed during 2011. Revenues further declined as the airport had received a onetime donation of land in the prior year. The revenue declines are offset by an increase in Passenger Facility Charge revenue due to increased air travel into the County. Expenses decreased, mostly because of the completion of two phases of a residential noise insulation program in the prior year. The decline in expenses was offset by an increase in security costs and planning studies for further improvements to airport facilities. Other factors concerning the finances of these three major funds have already been addressed in the discussion of Monroe County's business-type activities. C-10 The internal service funds include the Workers Compensation Fund, Croup Insurance Fund, Risk Management Fund and the Fleet Management Fund. The self-insurance funds are an important part of Monroe County's operations. Internal service fund revenues increased primarily due to increased charges for services needed to cover estimated cost increases. The estimated increase in costs was partially realized by an increase in premiums and coverage for liability insurance, In addition, health insurance claims increased significantly. Capital Assets Monroe County's financial statements present capital assets in two categories., those assets subject to depreciation, such as buildings, infrastructure, and equipment and those not subject to depreciation, such as land and construction in process. Investment in capital assets for both governmental and business-type activities, net of related debt at September 30, 2011, was $342,253,437. Investment in capital assets for governmental activities is $262,950,610 and $79,302,827 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 the puck Key wastewater collection system, renovation of the Geiger Key Bridge, and renovation of the Marathon courthouse. The County's primary focus for general government capital assets is the construction of its wastewater collection systems. Further details are available in Note 6 to the financial statements pages F-16 through F-18. Long-Term Debt At September 30, 2011, Monroe County had long-term debt in the amount of$86,471,473, This debt is mainly comprised of revenue bonds and notes secured by pledges of revenues. Revenue secured debt for governmental activities is $45,275,453 and $8,705,000 is for business-type activities. Monroe County has no general obligation bonds. Additions to long-term debt consisted of adjustments to the estimates of other post employment benefits, landfill closure costs and accrued compensated absences earned, and additional permanent financing for the most recent wastewater collection system construction project. Retirements of long-term debt amounted to $15,652, 3 which included the scheduled retirement of $6,006,930 of revenue bonds and notes and early retirement of $9,645,963 of revenue bonds and notes.The Municipal Service District Revenue Notes were retired in full during the year. Moody's Investors Service rates Monroe County, Florida Infrastructure Sales Surtax Revenge Bonds, Series 2003 and 2007 as "Al". Standard and Poor's Ratings Services have rated these issues �A+". The Monroe County Florida Airport Variable Rate Revenue Bonds ratings are A2IA. Further details are available in Note 12 to the financial statements pages F-25 through F-29. Budgetary Highlights There were no significant category changes in the revenue budget. The largest category change was to increase intergovernmental revenues 0.47% of original total budgeted revenues or 0.55% of original budgeted intergovernmental revenues.. Most of the change was due to a state wide settlement which C-11 provided Clerks with additional grant revenues for child support enforcement. Additional miscellaneous revenues were budgeted to permit expenditure of unanticipated funds. There were no significant category changes in the expenditure budget. The largest category change was to reduce contingency funds by $704,188 or 0,80% of the total original expenditure budget. The budget for general government expenditures was increased $571,350 or 0.65% of the total original expenditure budget. The additional funding for general government expenditures included an increase of $520,000 to partially fund the cost to resolve the County's Medicaid responsibility dispute. The County increased its planned spending on libraries by $162,518 and increased the budgeted transfers to add the proceeds of the additional child support grant proceeds to the County's resources. Economic Factors and Next Year's budgets and Rates Monroe County's officials considered many factors when adopting the fiscal year 2012 budget. Included among these factors were the anticipated change in property values, property tax assessment caps imposed by the State legislature, changes in homestead property exemptions approved by the voters, the slow pace of the economic recovery, and the maintenance of fund reserves dictated by financial policy. Also considered were employee benefit costs, the use of a significant portion of Tourist Development taxes for tourist related capital projects, increases in insurance premiums for all types of coverage, the ongoing construction of wastewater treatment infrastructure, increases in program costs caused by unfunded state mandates, major long range planning initiative and policies, expansion of parks and recreational facilities, and road and bridge improvements. Ad valorem taxes based on property values comprise approximately 66.7% of budgeted tax revenues. The Property Appraiser certified a county-wide property value of roughly $19.6 billion for fiscal year 2011. For fiscal year 2012, the county-wide property value has been certified at approximately $18.6 billion, a decrease of 5.2%. There is very little difference between the 2011 and 2012 total budgeted revenues. Within that total, the County expects to achieve favorable budget variances in 2011 that will be available for 2012 expenditures as fund balance forward. The modest increase in 2011 sales taxes is expected to continue in 2012 and has been budgeted accordingly. Property assessments continue to decline but at a lesser rate. The estimated revenues for next year's property tax revenues have also been reduced. Intergovernmental revenues are budgeted at a lower level as airport projects such as the residential noise improvement projects and the runway safety area are completed. Budgeted grants for wastewater projects and budgets for interfund transfers from capital projects funds have been lowered as the wastewater projects under construction are nearing completion in 2012. Expenditures increased to protect the County from economic downturns and natural disasters. The County is accumulating a hurricane reserve fund to replace a line of credit. Tourism revenues are very important to the Keys' economic health, and the County will increase its spending to advertise the Keys as a tourist destination. The County is also increasing its efforts at improving affordable housing opportunities. The construction of two new fire stations has been scheduled for the coming year. The budget has been reduced as the wastewater projects in process are scheduled for completion and the funding for the next wastewater project is yet to be found. Airport improvement projects budgets are less as the next airport improvements are in the planning stages. The County has changed health insurance carriers, and expects to achieve a significant reduction in the cost of employee health insurance and claims expenses. C-12 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 information 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-'I 3 BASIC FINANCIAL STATEMENTS MONROE COUNTY, FLORIDA STATEMENT OF NET ASSETS SEPTEMBER 30, 2011 Primary Government Governmental Business-Type Activities Activities Total ASSETS Current Assets: Cash and Cash Equivalents $ 62,597,352 $2,515,764 $ 65,113,116 Investments 145,174,740 16,782,829 161,957,569 Restricted Interest Receivable - 2,403 2,403 Accounts Receivable, Net 1,077,054 1,044,477 2,121,531 Internal Balances 1,408,049 (1,408,049) - Due from Other Governmental Units 7,270,896 334,893 7,605,789 Interest Receivable 739,049 71,969 811,018 1 nventory 2,872 - 2,872 Restricted Cash and Cash Equivalents 6,274,740 993,712 7,268,452 Restricted Investments 5,029,543 931,953 5,961,496 Total Current Assets 229,574,295 21,269,951 250,844,246 Noncurrent Assets: Restricted Cash and Cash Equivalents - 6,020,865 6,020,865 Restricted Investments - 3,326,951 3,326,951 Restricted Interest Receivable - 6,621 6,61 Mortgage/ Notes Receivable 17,456,829 - 17,456,829 Allowance for Mortgage/ Notes Receivable (9,080,250) - (9,080,250) Deterred Charges 512,732 269,750 782,482 Land and Other Nondepreciable Assets 107,460,596 14,261,478 121,722,074 Other Capital Assets, Net of Accurn Deprec 189,462,637 73,993,434 263,456 071 Total Noncurrent Assets 305,812,544 97,879,099 403,691,643 Total Assets 535,386,839 119,149,050 654,535,889 LIABILITIES Current Liabilities: Accounts Payable 8,878,667 883,324 9,761,991 Retainage Payable 590,357 - 590,357 Accrued Wages and Benefits Payable 2,591,493 179,050 2,770,543 Claims and Judgements Payable 6,406,742 - 6,406,742 Due to Other Governmental Units 1,744,204 886,097 2,630,301 Accrued Comp. Absences Payable 425,459 - 425,459 Other Current Liabilities 1,336 - 1,336 Deposits in Escrow 168,067 92,265 260,332 Unearned Revenue 498,402 762,128 1,260,530 Accrued Interest Payable 6,751 - 6,751 (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, 2©11 Primary Government Governmental Business-Type Activities Activities Total Capital Leases Payable 1,453 50,000 51,453 Revenue Notes Payable 1,035,703 - 1,035,703 Revenue Bonds Payable 4,326,091 - 4,326,091 Current Liabilities Pyble fm Curr Rest Assets-, Accounts Payable - 1,042,725 1,042,725 Retainage Payable - 512,755 512,755 Accrued Interest Payable - 1,660 1,660 Revenue Notes Payable - 450,000 450,000 Total Current Liabilities 26,674,725 4,860,004 31,534,729 Noncurrent Liabilities: Payable from Restricted Assets- Landfill Closure/Postclosure Costs - 416,651 416,651 Accrued Camp. Absences Payable 7,764,228 347,390 8,111,618 Capital Leases Payable - 567,270 567,270 Revenue Notes Payable 10,330,159 - 10,330,159 Revenue Bonds Payable 29,583,500 8,255,000 37,838,500 Claims and Judgements Payable - 135,685 135,685 OPEB Liability 21,663,713 1,248,803 22,91 ,516 Total Noncurrent Liabilities 69,341,600 10,970,799 80,312,399 Total Liabilities 96,016,325 15,830,803 111,847,128 NET ASSETS Invested in Capital Assets, Net of Related Debt 262,950,610 79,302,827 342,253,437 Restricted: Public Safety 34,773,631 - 34,773,631 Transportation 14,866,664 - 14,866,664 Economic Environment 17,089,443 - 17,089,443 Land Authority 5,284,771 - 5,284,771 Other 21,419,369 - 21,419,369 Landfill Closure and Post Closure - 1,487,162 1,487,162 Capital Projects 27,089,501 2,833,212 29,922,713 Debt Service 2,195,200 4,618,155 6,813,35 Unrestricted 53,701,325 15,076,891 68,778,216 Total Net Assets $ 439,370,514 $ 103,318,247 42,688,761 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, 2011 Program Revenues Operating Capital Charges for Grants and Grants and Functions/Programs Expenses Services Contributions Contributions Primary government: Governmental activities: General Government 35,083,581 $ 8,696,750 $ - $ 3,229,254 Public Safety 97,858,383 12,383,744 23,392,652 34,260 Physical Environment 3,801,161 1,690,385 234,703 9,188 Transportation 5,358,906 223,239 589,567 604,570 Economic Environment 20,748,109 6,128 1,021,527 - Human Services 8,877,683 441,706 1,407,506 - Culture and Recreation 4,719,028 123,560 434,907 - Court Related 9,488,877 2,280,138 3,868,376 - Interest on Long Term Debt 1,788,869 - - Tvtal governmental activities 187,724,597 25,845,650 30,949,238 3,877,272 Business-type activities: Solid Waste 15,522,290 17,437,884 50,000 - Toll Bridge 1,341,462 1,007,665 - - Key West Airport 9,092,116 6,151,919 3,240,603 1,218,537 Marathon Airport 1,959,360 757,879 146,828 53,640 Total business-type activities 27,915,228 25,355,347 3,437,431 1,272177 Total primary government $ 215,639,825 $ 51,200,997 $ 34,386,663 $ 5,149,449 General Revenues; Taxes: Ad Valorem Taxes Tourist Impact Tax Gas Tax 112 Cent Sales Tax One Cent Infrastructure Tax Tourist Development Tax Other Taxes Other St. Shared Rev, unrestricted Investment Income Settlements, Insurance Recoveries Donations, and Other Income Transfers Total General Revenues and 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-type Activities Activities Total $ (23,157,577) $ - $ (23,157,577) (62,047,727) - (62,047,727) (1,866,885) (1,866,885) (3,941,530) - (3,941,530) (19,720,454) - (19,720,454) (7,028,471) - (7,028471) (4,160,561) - (4,160,561) (3,340,363) - (3,340,363) 1,788,869 - (1,788,869) (127,052,437) - (127,052,437) - 1,965,594 1,965,594 - (333,797) (333,797) - 1,518,943 1,518,943 - (1,001,013) (1,001,013) - 2,149,727 2,149,727 (127,052,437) 2,149,727 (124,902,710) 78,492,821 - 78,492,821 3,221,050 - 3,221,050 5,459,659 - 5,459,659 8,289,242 - 8,289,242 15,374,998 _ 15,374,998 22,409,539 - 22,409,539 1,702,807 - 1,702,807 3,276,701 - 3,276,701 1,699,244 350,720 2,049,964 3,785,434 12,767 3,798,201 304,629 (304,629) - 144,016,124 58,858 144,074,982 16,963,687 2,208,585 19,172,272 422,406,827 101,109,662 523,516,489 $ 439,370,514 $ 103,318,247 $ 542,688,761 I7-4 MONROE COUNTY, FLORIDA BALANCE SHEET GOVERNMENTAL FUNDS SEPTEMBER 30, 2011 Fine & Governmental HIDTA General Forfeiture Grants Grants Assets Cash and Cash Equivalents $ 14,205,557 3,874,438 336,901 $ 79,032 Investments 29,606,779 14,210,711 1,773,203 - Accounts Reraeivabie, Net 42,678 760,136 79 7,659 Due from Other Funds 1,324,867 1,496,721 726,831 1,230 Due from Other Governmental Units 392,268 688,507 1,96,527 1,725,786 Mortgages/Notes Receivable - - 42,928 - Allow. for Mortgages/Notes Receivable - - (42,928) - Interest Receivable 120,207 128,508 8,890 Inventory 2,872 - - - Total Assets 45,695,28 $ 21,19,021 $ 4,802,431 $ 1,813,707 Liabilities and Fund Balances Liabilities: Accounts Payable 2,550,782 121,934 $ 573,330 $ 1,101,210 Retainage Payable 9101 - - - Accrued Wages and Benefits Payable 1,597,492 63,346 66,294 87„008 Due to Other Funds 3,041,154 88,398 452,635 67,829 Due to Other Governmental Units 997,757 26,562 6908 557,660 Other Current Liabilities 184 - 90 - Deposits in Escrow 164,066 - - - Deferred Revenues - 623,459 1,756,749 - Tetal Liabilities 8,360,536 923,699 2,918,786 1,813,707 Fund Balances: Nonspendable 2,872 - - - Restricted 100,732 20,235,322 1,883,645 - Committed - - - _ Assigned 9,673,395 Unassigned 27,557,693 - - - Total Fund Balances 37,334,692 20,235,322 1,883,645 - Total Liabilities and Fund Balances $ 45,695,228 $ 21,159,021 $ 4,802,431 $ 1,813,707 The notes to the financial statements are an integral part of these statements. E-1 Comprehensive One Cent Infra $Is Srtx Nonmajor Total Plan Land Infrastructure Revenue Bonds All Governmental Governmental Authority Surtax Series 2007 Debt Service Fronds Funds $ 12,263,786 $ 2,758,018 $ 6,308,831 $ 858,846 $ 24,046,154 $ 64,731,563 - 19,007,720 5,029,543 1,331,123 56,463,617 12 ,422,696 - - - - 255,121 1,065,673 347,909 65,902 - - 1,969,279 5,932,739 21,918 1,187,060 - - 1,215,202 7,187,268 8,376,579 - - - 9,037,322 17,456,829 - - - - (9,037,322) (9,0 0,250) 82,352 17,438 5,231 274,889 637,515 - - - _ _ 2,872 $ 21,010,192 $ 23,101,052 $ 11,355,812 $ 2,195,200 $ 84,224,262 $ 21 ,356,905 $ 3,231 $ 645,049 $ 772 $ - $ 3,442,904 $ 8,439,212 - 126,659 - - 379,221 514,981 10,140 17,365 1,802 - 748,046 2,591,493 - - - - 2,062,088 5,712,104 826 - - 85,162 1,737,655 - - - - 1,062 1,336 - - - 4,001 168,067 - - - - 251,867 2,632,075 13,371 789,899 2,574 - 6,974,351 21796,923 8,376,579 - - - - 8,379,451 5,284,771 22,311,153 11,353,238 2,195,200 70,658,801 134,022,862 - _ - - 5,534,436 5,534,436 7,335,471 - - - 1,056,674 18,065,540 - - - - - 27,557,693 20,996,821 22,311,153 11,353,238 2,195,200 77,249,911 193,559,982 $ 21,010,192 $ 23,101,052 $ 11,355,812 $ 2,195,200 $ 84,224,262 $ 21 ,36,905 E-2 i MONROE COUNTY, FLORIDA RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO STATEMENT OF NET ASSETS SEPTEMBER 30, 2011 Amounts reported for governmental activities in the Statement of Net Assets are different because: Ending Fund Balance - Governmental Funds 193,559,982 Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the governmental funds, net of accumulated depreciation of$111,691,449. 295,876,853 IDeferred 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, 512,732 [deferred revenues are reported in governmental funds for inflows that are not current financial resources. They are reported as revenues in I the Statement of Net Assets_ 2,133,673 I 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 $ (33,909,591) Revenue Note Payable (11,365,862) OPEB Liability (21,238,058) Capital Leases Payable (1,453) Accrued Interest Payable (6,751) Accrued Compensated Absences (8,047,349) Total (74,569,064) 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, 21,856,338 Net Assets of governmental activities $ 439,370,514 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, 2011 Fine & Governmental HIDTA General Forfeiture Grants Grants Revenues: Taxes $ 24,541,686 42,017,308 $ _ $ _ Licenses and Permits - - - Intergovernmental 7,544,633 20,662 6,750,507 20,447,037 Charges for Services 4,509,391 2,557,383 132,574 - Fines and Forfeitures 10,329 126,046 - - Investment Income 325,466 160,618 10,365 - Miscellaneous 1,536,795 1,760 40,363 - Total Revenues 38,464,300 44,883,779 6,933,809 20,447,037 Expenditures: Current: General Government 25,554,070 501,031 - - Public Safety 40,302,290 8,314,788 1,073,315 20,447,037 Physical Environment 179,708 - 156,410 - Transportation 102,915 - 1,402,421 - Economic Environment 579,297 - 494,489 - Human Services 5,716,759 - 2,279,758 - Culture and Recreation 2,621,975 - 59,727 - Court Related 3,805,095 307,575 - - Capital Projects - - - - Debt Service 18,981 - - - Total Expenditures 78,881,090 9,123,394 5,466,120 20,447,037 ExcesslDeficiency of Revenues Overl(Under) Expenditures (40,416,790) 35,760,385 1,467,689 - Other Financing Sources/(Uses): Transfers from Other Funds 47,041,127 1,488,529 435,158 Transfers to Other Funds (2,806,367) (35,556,564) (402,523) - Debt Issuance - - - - Total Other Financing Sources/(Uses) 44,234,760 34,068,035 32,635 Net Change in Fund Balances 3,817,970 1,692,350 1,500,324 Fund Balances-October 1 33,516,722 18,542,972 383,321 - Fund Balances-September 30 $ 37,334,692 $ 20,235,322 $ 1,883, 5 $ - The notes to the financial statements are an integral part of these statements. E-4 Comprehensive One Dent infra SIs Srtx Nonmajor Total Plan Land Infrastructure Revenue ends All Governmental Governmental Authority Surtax Series 2007 Debt Service Funds Funds $ - $ 15,374,998 $ _ $ - $ 40,690,546 $ 122,624,538 - - - 3,301,929 3,301,929 3,229,254 - - - 13,375,297 51,363,390 - - - - 12,124,206 19,323,553 - - - 1,183,544 1,319,921 51,100 133,003 43,768 27,657 754,161 1,506,138 45,908 - - - 1,588,338 3,213,164 326,262 15 508,001 43,768 27,657 73,018,020 202,652,633 963,326 - - - 3,312,143 30,330,570 - - _ - 21,598,724 91,736,154 - - - - 1,156,140 1,492,258 - - - 3,408,526 4,913,862 - - 19,604,047 20,677,833 - - - 366,067 8,362,584 - 1,431,630 4,113,332 - - - - 4,176,331 8,289,001 1,178,994 2,276,141 - 5,603,172 9,058,307 - - 13,504,305 - 13,523,286 963,326 1,178,994 2,276,141 13,504,305 60,656,780 192,497,187 2,362,936 14,329,007 (2,232,373) (13,476,W) 12,361,240 10,155,446 18,473 21,282 - 13,580,257 7,167,134 69,751,960 - (13,760,532) - - (16,288,408) (68,814,394) - - - - 5,005,734 5,005,734 18,473 (13,739,250) - 13,580,257 (4,115,540) 5,943,300 2,381,409 589,757 (2,232,373) 103,609 8,245,700 16,098,746 18,615,412 21,721,396 13,585,611 2,091,591 69,004,211 177,461,236 $ 20,99 ,821 - $ 22,311,153 $ 11 353 238 $ 24.195200 $ 77,249911 $ 193,559 982 The notes to the financial statements are an Integral part of these statements. E-5 MONROE COUNTY, FLORIDA RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES FOR THE YEAR ENDED SEPTEMBER 30, 2011 Amounts reported for governmental activities in the statement of activities are different because; Net change in fund balances - total governmental funds 16,098,746 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$12,706,040 exceed depreciation of$9,708,667 in the current period. 2,997,373 Governmental funds do not report donated capital assets as they do not provide current financial resources. Governmental activities report donated assets at the fair market value. 236,871 Debt issuance is reported as revenue on the governmental funds as current financial resources available, but as a long-term liability on the Statement of Net Assets. (5,005,734) 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-terra liabilities in the Statement of Net Assets. 11,813,299 The change in compensated absences is reported in the Statement of Activities and is not reported in goverriment l funds as current financial resources are not used. (147,929) The change in OPEB liability is reported in the Statement of Activities and is not reported in governmental funds as current financial resources are not used. (6,464,774) 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 addition, interest and other accruals not using current financial resources are reported as governmental activities. The amount is the net effect of these transactions. (78,882) Revenues that do not provide current financial resources are not reported on governmental funds. However, revenues that are earned in the current period are reported in the Statement of Activities, Deferred revenues decreased. (1,494,942) The net revenues of internal service funds (funds used to charge the costs of certain activities to individual funds) are reported with governmental activities. (990,341) Change in net assets of governmental activities $ 16,963,687 The notes to the financial statements are an integral part of this statement. E-6 I MONROE COUNTY, FLORIDA GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES. Taxes $ 25,015,057 $ 25,015,057 24,541,686 $ (473,371) Intergovernmental 7,150,483 7,544,104 7,540,633 (3,471) ! Charges for Services 4,059,906 4,059,906 4,509,391 449,485 Fines and Forfeitures 9,000 9,000 10,329 1,329 Investment Income 284,272 284,272 325,466 41,194 Miscellaneous 600,563 _ 657,238 1,536,795 879 557 Total Revenues 37,119,281 37,569,577 38,464,300 894,723 EXPENDITURES; E Current. General Government: Board of County Commissioners 1,658,144 2,093,144 1,965,441 127,703 County Administrator 563,588 563,588 551,061 12,527 Public Works Management 123,238 123,238 121,866 1,372 County Attorney 1,132,325 1,132,325 1,071,087 61,238 Office of Management & Budget 505,189 505,189 367,774 137,415 Technical Services 1,634,150 1,629,50 1,474,067 155,483 Technology Replacement 305,230 305,230 299,618 5,612 Grants Administration 211,277 211,277 51,579 159,698 Personnel 339,496 339,496 327,424 12,072 Purchasing 213,051 213,051 202,646 10,405 Public Works Facilities Maintenance 6,925,763 6,92 ,763 6,143,548 782,215 ADA Compliance 10,000 10,000 - 10,000 Value Adjustment Board 35,000 35,000 25,176 9,824 Lobbyist 55,000 50,050 4,950 Promotional Advertising 5,000 5,000 - 5,000 Tax Increment Payment 300,000 300,000 258,578 41,422 Quasi External Services 125,000 125,000 112,648 12,352 Clerk to BOCC-Financial Package 5,000 5,000 - 5,000 Cleric Recording 436,706 436,706 395,363 41,343 Clerk Information Systems 680,215 680,215 602,912 77,303 Clerk Finance 1,625,084 1,625,084 1,613,047 12,037 Clerk Internal Audit 275,116 232,002 220,900 11,102 Clerk Tourist Tax Audit 157,640 200,754 181,594 19,160 (Continued) The notes to the financial statements are an integral Part of these statements. E-7 MONROE COUNTY, FLORIDA GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL -CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Clerk Non-court Administrations 107,319 111,882 92,264 19,618 Clerk Non-court Records Management 130,399 130,399 97,417 32,982 Tax Collector 4,505,023 4,505,023 4,247,290 257,733 Property Appraiser 4,139,917 4,141,121 3,77%760 361,361 Supervisor of Elections 1,551,374 1,631,374 1,137,826 493,548 Supervisor of Elections-insurances 129,033 129,216 129,216 - Gov't Enterprise Management System 200 000 200,000 33,918 166,082 Total General government 282029,277 28,600,627 25,554,070 3,046,557 Public Safety: Hurricane 300,000 300,000 - 300,000 Emergency Management 18.2,848 204,948 202,383 2,565 Marathon Emer Operations Center 70,860 65,760 35,281 30,479 Medical Examiner 565,977 566,427 566,369 58 American Red Cross Lower Keys 5,000 5,000 5,000 - Sheriff Law Enforcement 23,100,474 23,700,475 22,927,934 772,541 Sheriff Corrections 17,233,852 16,633,852 16,258,460 375,32 Fire Academy 509,089 509,089 306,863 202,226 Total Public Safety 41,968,100 41,985,551 40,302,290 1,683,261 Physical Environment: Extension Service 186,491 186,491 179,708 6,783 Wastewater Upgrade 252,725 222,725 - 222,725 Total Physical Environment 439,216 409,216 179,708 229,508 Transportation: County Engineer 355,478 355,478 102,915 252,563 Economic Environment: Literacy Volunteers of America 4,000 4,000 4,000 - Veteran's Affairs 474,593 471,393 447,159 24,234 Veteran's Affairs Transportation 128 495 131,695 128,138 3,557 Total Economic Environment 607,088 607,088 579,297 27,791 (Continued) The notes to the financial statements are an integral part of these statements. E-8 MONROE COUNTY, FLORIDA GENERALFUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Human Services: Health Care Respite Act - 63,629 - 63,629 Hospice of the Florida Keys 145,000 145,000 145,000 - Public Works Animal Shelter 970,869 970,869 967,504 3,365 Bashore Manor 724,781 737,781 735,346 2,435 Middle Keys Guidance Clinic 215,195 215,195 215195 - Middle Keys Guidance Clinic 30,148 30,148 30,148 - Middle Keys Guidance Clinic 69,177 69,177 69,177 - Middle Keys Guidance Clinic 600,000 600,000 600,000 - GCMK Bakermrchmn Tran p 146,000 146,000 116,392 29,608 Be the Chng of the FL Keys 25,000 25,000 24,770 230 Monroe Cnty Assoc for Retarded Citizens 145,000 145,000 145,000 - Heronl Peacock 45,000 45,000 45,000 - Older Americans Volunteer Program 500 500 384 116 Welfare Administration 469,992 459,867 391,445 68,422 Welfare Services 543,200 378,863 311,843 67,020 Florida Keys Children's Shelter 146,000 146,000 146,000 - Wesley House 126,000 126,000 12+6,000 - Helpline 4,000 4,000 4,000 - Domestic Abuse Shelter 20,000 20,000 18,333 1,667 Florida Keys Outreach Coalition 30,000 30,000 30,000 - Samuel's House 75,000 75,000 75,000 - Grace Jones 30,000 30,000 30,000 - Womankind 70,000 70,000 70,000 - Rural Health Network 273,600 273,600 273,600 = Rural Health Network ST1D 60,000 60,000 60,000 - Social Serve Transportation 735,923 785,248 7-34,688 50,560 Keys Area Interdenominational Resources 15,000 15,000 15,000 - FL Keys Healthy Start Coalition 5,000 5,000 5,000 = Star of the Sea Foundation 30,000 30,000 30,000 - MC SB Pace 57,000 57,000 46,725 10,275 Baker Act LKMC FS 394.463 - 48,612 48,611 1 Easter Seals Society 11,200 11,200 3,617 7,583 Health Department Lease 78,000 78,000 66,000 12,000 Aids Help 20,000 20,000 20,000 - (Continued) The notes to the financial statements are an integral part of these statements. E-9 MONROE COUNTY, FLORIDA GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL- CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Independence Day 15,000 15,000 14,999 1 Historic FI Keys Foundation 28,500 28,500 28,500 - Good Health Clinic 40,000 40,000 40,000 - FL Keys Area Hith Educ Ctr 35,000 35,000 33,482 1,518 Total Human Services 6,642,173 6,642,277 5,716,759 925,518 Culture and Recreation: Heart of the Keys Recreation 30,400 30,400 29,563 837 Big Pine Athletic Association 44,000 44,000 29,041 14,959 Brays and Girls Club 35,000 35,000 35,000 - Upper Keys YMCA 11,400 11,400 11,400 - Higgs Beach Maintenance 111,831 141,831 107,904 33,927 Lower Keys AARP 4,500 4,500 4,271 229 Middle Keys AARP 4,500 4,500 2,109 2,391 Big Pine Key HARP 4,500 4,500 4,476 24 Upper Keys AARP 4,500 4,500 - 4,500 Fine Arts Council 57,000 57,000 57,000 - Library Admin Support 546,178 546,178 528,817 17,361 Library Key West 660,879 660,879 637,070 23,809 Library Key West Donations - 125,414 50,168 75,246 Library Marathon 256,466 256,466 249,184 7,282 Library Marathon Donations - 18,727 9,316 9,411 Library Islamorada 258,994 258,994 246,635 12,359 Library Islamorada Donations - 495 35 460 Library Key Largo 363,070 363,070 354,933 8,137 Library Key Largo Donations - 4,185 - 4,185 Library Big Pine Key 274,117 274,117 259,444 14,673 Library Big Pine Key Donations - 13,697 5,609 81088 Total Culture and Recreation 2,667,335 2,859,853 2,621,975 237,878 Court belated} Law Library 54,628 54,628 50,226 4,402 Guardian Ad Litem 168,148 168,148 160,966 7,182 State Attorney 344,704 344,704 263,248 81,456 (Continued) The notes to the financial statements are an integral part of these statements. E-10 MONROE COUNTY, FLORIDA GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL -CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Public Defender 540,968 540,968 521,424 19,544 Sheriff Court Security 1,341,994 1,341,994 1,326,805 15,189 Court Administration 2,825 2,825 2,467 358 Court Admin-Judicial Support 124,620 125,970 124,792 1,178 Court Admin-Circuit Ct Reporter Svcs 1,675 1,675 1,346 329 Court Admin-Circuit Drug Court 385,865 385,865 381,323 4,542 Court Admin-Pretrial Release 496,008 496,008 488,024 7,984 Court Admin-Family Ct Case Mgrnt 200,786 200,786 176,656 24,130 Ct. Admin-Other Circuit Court.Juvenile 50,225 50,975 50,403 572 Ct.Admin-Pretrial Svcs Drug Diversion 116,601 116,601 106,094 10,507 Court Admin-Information Systems 151,554 151,554 151,321 233 Total Court Related 3,980,601 3,982,701 3,805,095 177,606 Debt Service: Principal 15,855 20,455 18,287 2,168 Interest 2,005 2,005 694 1,311 Total Debt Service 17,860 22,460 18,981 3,479 Total Expenditures 84,707,128 85,465,251 78,881,090 6,584,161 Excess/Deficiency of Revenues Over/(Under) Expenditures (47,587,847) (47,895,674) (40,416,790) 7,478,884 Other Financing Sources/(Uses): Reserve for Contingencies (918,612) (214,424) - 214,424 Reserve for Cash Balance (5,442,244) (5,442,244) - 5,442,244 Transfers from Other Funds 45,942,683 45,942,683 47,041,127 1,098,444 Transfers to Other Funds (2,884,119) _�3,200 44880) (2,806,367) 394,113 Total Other Financing Sources/(Uses) 36,697,708 37,085,535 44,234,760 7,149,225 Net Change in Fund Balances (10,890,139) (10,810,139) 3,817,970 14,628,109 Fund Balances, October 1 10,890,139 10,810,139 33,516,722 22,706,583 ( Fund Balances, September 30 $ - $ - $ 37,334,692 $37,334,692 r The notes to the financial statements are an integral part of these statements, l E-11 i MONROE COUNTY, FLORIDA FINE AND FORFEITURE SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUN© BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $43,280,201 $43,280,201 $42,017,308 $ (1,262,893) Intergovemmental 30,000 30,000 20,662 (9,338) Charges for Services 297,259 297,259 2,557,383 2,260,124 Fines and Forfeitures 250,000 150,000 126,048 (23,952) Investment Income 150,000 156,650 160,618 3,968 Miscellaneous - 65,906 1760 (64,146 . Total Revenues 44,007,460 43,980,016 44,883,779 903,76 EXPENDITURES: Current: General Government: Tax Increment Payment 550,000 550,0G10 501,031 48,969 Public Safety: Sheriff Law Enforcement 2,601,445 2,814,407 2,742,351 72,056 Sheriff Corrections 2,502,121 2,352,648 2,329,181 23,467 Bond Refunds 25,000 25,000 221 24,779 LEER Funds 75,000 75,000 75,000 - Public Works Correction Facilities 2,013,450 2,013,450 1,687,926 325,524 Medical Air Transport 1,239,307 1,239,306 985,831 253,475 Interagency Communications 65,727 65,727 25,067 40,660 Juvenile Detention Cost Share 481,030 497 234 469,211 28,023 Total Public Safety 9,003,080 9.082,772 8t314,788 767,984 Physical Environment: Wastewater Upgrade 59,400 5 ,400 - 59,400 Court Related: Sheriff Extradition 50,000 50,000 32,481 17,519 Sheriff Court Security 266,027 275,094 275,094 - Total Court Related 31.6,027 325,094 307,575 17,519 Total Expenditures 9,928,507 10,017,26 9,123,394 893,872 Exr-ess/Deficiency of Revenues Over/(Under) Expenditures 3 ,078,953 33,962,750 35,760,385 1,797,635 The notes to the financial statements are an integral part of these statements. (Continued) E-12 MONROE COUNTY, FLORIDA FINE AND FORFEITURE SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL -CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Other Financing Sources/(Uses): Reserve for Contingencies (500,000) (483,797) - 483,797 Reserve for Cash Balance (4,939,773) (4,939,773) - 4,939,773 Transfers from Other Funds 1,055,000 1,155,000 1,488,529 333,529 Transfers to Other Funds (35,556,564 35,556,564) (35,556,564) - Total Other Financing Sources/(uses) (39,941,337) (39,825,134) (34,0684035) .� 5,757,099 Net Change in Fund Balances (5,862,384) (5,862,384) 1,692,350 7,554,734 Fund Balances, October 1 5,862,384 5,862,384 18,542,972 12,680,588 Fund Balances, September 30 $ - $ - $20,235,322 $ 20,235,322 The notes to the financial statements are an integral part of these statements. E-13 MONROE COUNTY, FLORIDA GOVERNMENTAL GRANTS SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES . BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Revenues: Intergovernmental $ - $ 33,198,510 $ 6,750,507 $ (26,448,003) Charges for Services - 134,146 132,674 (1,572) Investment Income - - 10,365 10,365 Miscellaneous - ...,39,912 40,363 451 Total Revenues - 33,372,568 6,933,809 (26,438,759) Expenditures: Current: Public Safety: Emergency Management Base Grant - 279,184 146,892 132,292 Radiological Emerg Preparedness 20,293 125,000 117,535 7,465 EMS Award Grant - 85,161 12,978 72,183 Homeland Security Grant - 17,500 - 17,500 Homeland Security Grant - 42,257 - 42,27 SHSGP ISS7 CSPIICS Grant - 15,000 - 15,000 SHSGP IS10 ICSIWEB - 8,500 - 8,500 SHSGP 11DS-52-11- 4-01-306 - 57,835 56,623 1,212 SHSGP 11DS-40-11-54-01-444 - 39,500 25,000 14,500 ODIC UASI 06 Grant - 2,506 - 2,506 ODP UASI 07 Grant - 37,923 7,018 30,905 ODP UASI 08 Grant - 35,000 - 35,000 MCSOIEmg 1lgrnt UASI 08 Grant - 367,884 349,485 18,399 MCSO/ mg Mgmt UASI 09 Grant - 312,472 52,827 259,645 FEMA-Hurricane Wilma - 11,260,631 304,957 10,95 ,674 FEMA-Tropical Storm Fay - 1,949,659 - 1 949,659 Total Public Safety 20,293 14,636,012 1,073,315 13, 62,697 Physical Environment: IE Plant Removal Crew FK095 - 90,205 90,161 44 Mech Inv/Exotic Pint Rrvl FK097 - 50,000 50,000 - IE Plant Removal Crew FK103 - 96,000 7,415 88,585 Mech Inv/Exotic Pint RmvI FK104 - 50,000 - 50,000 Clean Vessel Act LE 655 - 4,199 4,107 92 Clean Vessel Act 10- 75 - 60,000 4,_727_ 55,273 Total Physical Environment - 350,404 156,410 193,994__ Transportation: ARRA Geiger Creek Bridge Repair - 567,226 548,157 19,069 Old SR940 Leg A Bridge Repair - 860,760 - 860,760 The notes to the financial statements are an integral part of these statements. (Continued) E-14 MONROE COUNTY, FLORIDA GOVERNMENTAL GRANTS SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL - CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) No Name Key Brdg #904320 - 4,641,000 - 4,641,000 Sunset Point Park Boat Ramp - 124,696 - 124,696 Tom's Harbor Channel Bridge - 1,570,366 179,424 1,390,942 Safety Improvement Heritage Trail - 23,303 - 23,303 Transp Planning Prog 07-09 84,722 423,387 263,663 169,724 Bicycle/Pedestrian Plan 2 88,986 107.320 90,209 17,111 Overseas Heritage Trail - 342,040 - 342,040 Pigeon Key Ferry Service - 456,373 263,649 192,724 LAP Wayfinding Signage - 1,100,000 48,219 1,051,781 LAP FKSH Interpretive Panels - 45,000 9,100 35,900 Total Transportation 173,708 1%261,471 1,402,421 8,859,05 Economic Environment: FEMA Severe Repetitive Loss - 179,736 - 179,736 Disaster Recovery CDBG - 2,444,679 386,557 2,0 a8,122 ARRA FL Energy Comm ARS010 - 2,687,288 107,932 2, 79,356 Total Economic Environment - 5,311,703 494,489 4,817,214 Human Services; Residential Substance Abuse Treatmen 16,667 132,899 66,232 66,667 Cit/Reentry Diversion Pgm V - 21,898 13,309 8,589 ARRA Recovery Act JAG Grogram - 21,798 21,798 - B&G Club Smart Kids Prm - 20,823 4,701 16,122 DCF# HZ237 CJMHSA RA GRN - 824,469 38,805 785,664 MYC Middle School Pgm `/ - 38,500 38,500 - Prevent Recidivism Fr Adl - 28,500 28,500 - Drug Court Pgm Urin Lab - 27,636 27,636 - Wit Recidivism Prevention - 17,500 17,500 - Title 1118 Supportive Services - 2010 1,304 21,227 2,235 18,992 Title 11113 Supportive Services - 2011 - 16,500 1,527 14,973 Title IlIC1 Congregate Meals -2009 1,096 - - - Title IIIC1 Congregate Meals - 2010 1,697 50,805 50,636 169 Title IlIC1 Congregate Meals- 2011 - 143,250 137,763 5,487 Title IlIC2 Horne Delivered Meats-2010 5,348 81,107 66,991 14,116 Title IIIC2 Home Delivered Meals-2011 - 210,832 171,562 39,250 Title 111-E Caregiver Support Svc-2010 500 8,258 6,015 2,243 Title Ili-E Caregiver Support Svc-2011 - 67,560 50,423 17,137 Alzheimer's Disease Initiative 10111 556 53,928 53,907 21 Atzheimer's Disease Initiative 11/12 481 63,01 18,228 44,823 The notes to the financial statements are an integral part of these statements, (Continued) E-15 MONROE COUNTY, FLORIDA GOVERNMENTAL GRANTS SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL - CONTINUED FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Community Care Disabled Adults 09110 1,096 - - - Community Care Disabled Adults 10111 - 69,185 63,790 5,395 Community Care Disabled Adults 11112 - 90,814 17,329 73,485 Community Care for the Elderly 10111 5,570 387,126 386,858 268 Community Care for the Elderly 11112 - 143,638 107,392 36,246 Home Care for the Elderly 10/11 83 14,831 13,814 1,017 Home Care for the Elderly 11112 - 16,628 6,647 9,981 Low Income Home Energy Program 10/11 - 285,627 281,686 3,941 Low Income Home Energy Program 11112 - 340,027 186,951 153,076 ARRA HPRP Grant - 119,445 117,999 1,446 ARRA Weatherization Asst Program - 85 ,292 281,004 574,288 Total Human Services 34,398 4,173,154 2,279,758 1,893,396 Culture and Recreation: State Aid to Libraries - 85,888 58,762 27,126 Historic Marker GATO Bld - 965 965 - Total Culture and Recreation - 86,853 59,727 27,126 Total Expenditures 228,399 34,819,597 5,466,120 29,353,477 Excess/Deficiency of Revenues Over/(Under) Expenditures (228,399) 1,447,029 1,467,689 2,914,718 Other Financing Sources/(Uses): Reserve for Contingencies - (194,000) - 194,000 Transfers from Other Funds 16,667 3,828,386 435,158 (3,393,228) Transfers to Other Funds - 2,399,089 {402,523) 1,996,666 Total Other Financing Sources/(Uses) 16,667 1,235,297 32,635 (1,202,662) Net Change in Fund Balances (211,732) (211,732) 1,500,324 1,712,056 Funs! Balances, October 1 211,732 211,732 383,321 171,589 Fund Balances, September 30 $ - $ - $ 1,883,645 $ 1,883,645 The notes to the financial statements are are Integral part of these statements. E-16 MONROE COUNTY, FLORIDA SHERIFF'S HIDTA GRANT SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual negative) REVENUES'. Intergovernmental $ 20,500,000 $ 20,81 O,000 $ 20,447,037 $� (362,9633 EXPENDITURES: Current, Public Safety 20,500,000 20,810,000 20,447,037 362,963 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 COMPREHENSIVE PLAN LAND AUTHORITY SPECIAL REVENUE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovemmental $ 2,290,000 $ 2,290,000 $ 3,229,254 $ 939,254 Investment income 40,000 40,000 51,100 11,100 Miscellaneous Income - 4 ,908 45,9C1 - Total Revenues 2,330,000 2,375,908 3,326,262 950,354 EXPENDITURES: Current: General Government: Administrative 357,500 357,500 295,662 61,838 Capital Outlay 10,007,420 10,0532328 667,065 9,386,263 Total General Government 10,364,920 10,4101828 962,727 9,448,101 Net Change in Fund Balances 8,034,920) (8,034,920) 2,363,535 10,398,45 Other Financing Sources/(Uses): Transfers from Constitutional Officers - - 18,473 18,473 Net Change in Fund Balances - Budgetary Basis (8,034,920) (8,034,920) 2,382,008 10,416,928 Fund Balances, October 1 10,248,374 10,248,374 10,248,374 - Fund Balances, September 30 - Budgetary Basis $ 2,213,454 $ 2,213,454 12,630,382 $ 10,416,928 Reconciliation of Budgetary Basis To GAAP Basis Reconciling item: Mortgage receivable 8,376,579 Compensation accrual (10,140) Fund Balances, September 30 -GAAP Basis $20,996,821 The notes to the financial statements are an integral part of these statements. E-18 MONROE COUNTY, FLORIDA STATEMENT OF NET ASSETS PROPRIETARY FUNDS SEPTEMBER 30, 2011 Business-type Activities Enterprise Funds Major Funds Municipal Card Key Svc District Sound West Waste Bride Airport ASSETS Current Assets, Cash and Cash Equivalents $ 1,001,905 $ 896,320 $ 506,595 Investments 6,798,311 6,112,527 2,344,353 Restricted Cash and Cash Equivalents - - 993,712 Restricted Investments - - 931,953 Restricted Interest Receivable - - 2,403 Accounts Receivable, Net 441,136 - 572,691 Due from Other Funds 4,036 - 84,904 Due from Other Governmental Units 7,977 1,639 324,945 Interest Receivable 28,925 26,888 9,379 Total Current Assets 8,282,290 7,037,374 5,77 9935 Noncurrent Assets: Restricted Cash and Gash Equivalents 6,357 - 6,014,508 Restricted Investments 1,893,056 - 1,433,895 Restricted Interest Receivable 4,400 - 2,221 Deferred Charges, Net - - 269,750 Land and Other Nondepreciable Assets 3,629,620 50,000 9,150,884 Capital Assets, Net of Accurn. Depreciation 250,425 8,879,844 _ 54 0-82w,895__ Total Noncurrent Assets 5,783,858 8,99,844 70,954,154 Total Assets 14,066,148 15,967,2.18 76,725,089 LIABILITIES Current Liabilities: Accounts Payable 639,403 1,208 210,157 Accrued Wages and Benefits Payable 51,533 34,688 77,370 Claims and Judgements Payable - - - Due to Other Funds - 1,200 164,149 Due to Other Governmental Units 1,441 1,052 748,166 Accrued Comp. Absences Payable - - - Capital Leases Payable 50,000 - - Deposits in Escrow 77,959 - 8,000 Deferred Revenge - - 762,128 The notes to the financial statements are an integral part of these statements. E-19 Governmental _Major Funds Activities Internal Marathon Service Airport Total Funds $ 110,944 $ 2.515,764 $ 4,140,529 1,527,638 16,782,829 22,781,587 - 993,712 - - 931,953 - 2,403 - 30,650 1,044,477 11,381 - 88,940 165,961 332 334,893 83,628 6,777 71,969 101,634 1,676,341 22,766,940 27,284,620 - 6,020,865 - 3,326,951 6,621 - - 269,750 - 1,430,974 14,261,478 54,000 10,780,269 . 73,993,43 992,380 12 211 243_ 97,879,099 1,046,380 13,887,584 120,646 039 28,331,000 32,556 883,324 439,455 15,459 179,050 75,376 - - 6,406,742 308,340 4 73,689 1,847 135,439 886,0976ryr, 49 w 5 036 - 50,000 - 6,306 92,265 - - 762,128 - (Continued) E-20 MONROE COUNTY, FLORIDA STATEMENT OF NET ASSETS -CONTINUER PROPRIETARY FUNDS SEPTEMBER 30, 2011 Business-type Activities Enterprise Funds Major Fund: Municipal Carol Key Svc District Sound West Waste Bridge _Li2rort Current Liabilities Payable from Restricted Assets: Accounts Payable - - 1,042,725 Retainae Payable - - 512,755 Accrued Interest Payable: - - 1,660 Revenue Bonds Payable - - 450,000 Total Current Liabilities 8201336 38,148 3,977,109 Noncurrent Liabilities: Payable from restricted assets-Landfill 416,651 - - closurelpost closure costs Accrued Comp, Absences Payable 118,448 70,635 111,344 Claims &Judgements Payable 129,632 - 6,053 Capital Leases Payable 567,270 - - Revenue Bonds Payable - - 8,255,000 OPEB Liability 440,990 250,079 391,046 Total Noncurrent Liabilities 1,6721991 320,714 8,763,443 Total Liabilities 214 3,327 358,862 12,740,552 NET ASSETS Invested in Capital Assets, Net of Related Debt 3,262,775 8,929,844 54,898,965 Restricted for: Debt Service - - 4,618,155 Capital Projects - - 2,833,212 Landfill 1,487,162 - - Unrestricted �_ 6,822,884_ _ - 6,678,512 � 1,W205 Total Net Assets $ 11 572 821 $ 15 608,356 $ 63 984,537 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-21 Governmental Mayor Funds Activities Internal Marathon Service Airport Total Funds 1,042,725 - 512,755 ' - 1,660 - - 450,000 498,100 5,333,693 6,935,007 - 416,651 - 46,963 347,390 137,300 - 135,685 - 567,270 - - 8,255,000 - 1fi�,688 1,248,80325,ts55 213,651 10,9701799 562,955 711,751 16,304,492 7,497,962 12,211,243 79,302,827 1,046,380 - 4,618,155 - - 2,833,212 - - 1,487,162 - 964,590 16,1 0,1.91 19,786,658 $ 13,175,833 $ 104,341,547 20,833,038 $ (1,023,300) $ 103,318,247 E-22 MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2011 Business--type Activities Enterprise Funds Major Funds Municipal Card Key Svc District Sound West Waste Bridge Airport Operating Revenues: Franchise Fees $ 476,366 $ - $ Charges for Services 16,961,518 1,007,665 4,869,885 Fines and Forfeitures - - 1,264 Miscellaneous 8,008 - 4,329 Total Operating Revenues 17,445,892 1,007,665 4,875,478 Operating Expenses: Personnel Services 1,289, 6 830,920 1,870,412 Operations 14,221,045 146,885 4,912,584 Depreciation and Amortization 57,412 358,708 1,944,325 Asserted and Pain Claims - - - Tctal Operating Expenses 15,667,783 1,336,513 8,727,321 Operating Income/(Lass) 1,878,109 ............ 328,848) (3,851,843) Nonoperating Revenuesi(Expenses): Operating Grants - - 3,240,603 Grant and Donations - Other Sources 50,000 - Other Income - PFC - - 1,280,770 Investment Income 78,678 49,265 212,336 Insurance Recoveries - - - Gain (Loss) on Disposition of Assets 3,023 - (183,572) Interest Expenses and Fiscal Charges 26,553) - (177<383) Total Non-Operating Revenues/(Expenses) 105,148 49,265 4 372,754 Income/(Loss) Before Contributions and Transfers 1,983 257 (279,583) 520.911 Transfers from Other Funds 4,036 - - Transfers to Other Funds (187,303) (121,362) (6,964) Capital Grants and Contributions - - 1,218,537 Change in Net Assets 1,799,990 (400,945) 1,732,484 Total Net Assets-October 1 9,772,831 16,00%301 62,252,053 Total Net Assets-September30 $ 11,572,821 $ 15,€08,356 $ 63,984,537 Adjustment to reflect the consolidation of internal service activities related to enterprise funds. Change in Net Assets of Business-type Activities The notes to the financial statements are an integral part of these statements. E-23 Governmental _Major Activities Internal Marathon Service Airport Total Funds $ - $ 476,366 $ 757,879 23,596,947 21,759,131 - 1,264 - 430 12,767 345,475 758,309 24,087,344 22,104360� 426,946 4,417,604 1,682,590 966,883 20,247,397 3,971,644 584,887 2,945,332 64,271 - 17,274,752 74,752_ 1,978,716 27,610,333 22,993,257 (1,22 407) � 3 5� 2,989 888,651 146,828 3,387,431 - - 50,000 - 1,280,770 - 10,441 3 50,720 192,569 - - 439,164 - (180,549) (20,896) (203,936)� 157,269 _ 4,684,436 610,837 .. (1,063,138) __. ,161 --.((277,814) 6,964 11,000 - (315,629) (632,937) 53 640 1,272,177 - (1,002,534) 2,128,995 (910,751) 14,178,367 21,743,789 $ 13,175,833 $ 20,833,038 79,590 $ 2,208,585 E-24 MOB ROE COUNTY, FLORIDA STATEMENT OF CASH FLOWS PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2011 Business-type Activities Enterprise Funds Major Funds Municipal Card Key Svc District Sound West Waste Bridge Airport Operating Activities: Cash received for services $ 17,431,306 $ 1,007,799 $ 4,972,992 Cash rec'vd from other funds for goods and Svcs 7,115 - - Cash received from insurance recoveries - - - Csh received from others-PFC - - 1,280,770 Cash payments to suppliers for goods and sves (14,318,056) (229,875) (5,563,436) Cash payments for employee services (719,041) (440,892) (1,123,300) Cash payments to other funds (349,970) (234,415) (374,374) Cash payments for claims - _ - Other operating revenue 8,008 - 4,329 Net Cash Provided by/(Used in) Operating Activities 2,059,362 102,617 _ 803,019 Noncapital Financing Activities: Operating grants received - - 4,816,721 Transfers from other funds 4,036 - - Transfers to other funds (187,303) (121,3 2) (61964) Net Cash Provided/(Used) by Noncapital Financing Activities ,� (183_ ,267) (121,362) 4,809,757 Capital and Related Financing Activities: Proceeds from capital grants - - 4,586,351 Acquisition of capital assets (57,464) (37,602) (3,475,256) Principal paid on capital debt (1,032,365) - (2,835,000) Interest and fiscal charges paid on capital debt =_ 4�4,512)_ - (156,968) Net Cash Provided/(Used) by Capital and Related Financing Activities (1,134,341) 37,602 (1,880,873) Investing Activities: Investment income 204,260 121,287 77,321 Proceeds from sales and maturities of investments 7,067,545 6,052,693 8,001,580 Purchase of investment securities _ (7,5 91773) 5,493,846 (7,480,251 Net Cash Provided/(Used)in Investing Activities �_(297,968) 680,134 598,650- Net Increase/(Decrease) in Cash and Cash Equivalents 443,786 623,787 2,724,515 Cash and Cash Equivalents: October 1 564,476 272,533 4,790,300 September 30 $ 1 008,262 $�96,320 $ 7,514,815 The notes to the financial statements are an integral part of these statements. E-25 Govemmental Major Funds Activities Internal Marathon Service Airport Total Funds $ 888,507 $ 24,300,604 $ 4,737,876 - 7,115 16,990,467 - 461,717 ' 1,280,770 - (1,247,616) (21,358,983) (3,947,084) (209,978) (2,493,211) (987,816) 168,605 (790,154) (380,210) - - (16,962,276) 430 - _ 1.2,767 345.515 (400,052) 958,908 258,189 179,238 4,995,959 - 6,964 11,000 315 29)_ (632,937)_ 1861202mm 4,691,330 (632,937 268,500 4,854,851 - (146,286) (3,716,608) (19,003) ' (3,867,355) - (201,480) - 122,214 (2,930,602) (19,003) 27,139 430,007 462,14 1,283,113 22,404,931 22,991,907 (1,304,014) (21,847,884) (21,064,014) 6,238 987,054 2,390,047 (8 ,398) 3,706,690 1,996,296 196,342 _ 5,823,651 2144,233 $ 110,944 $ 9,530,341 $ 4,140,529 (Continued) E-26 MONROE COUNTY, FLORIDA STATEMENT OF CASH FLOWS-CONTINUED PROPRIETARY FUNKS FOR THE YEAR ENDED SEPTEMBER 30, 2011 Business-type Activities Enterprise Funds Major Funds Municipal Card Key Svc District Sound vilest Waste Bridge Airport Reconciliation of operating incomefiilvss) to net cash provided byf(used in) operating activities. Operating incomel(loss) $ 1,878,109 $ 328 848 $ ( ,851,843) Adjustments to reconcile operating income/(loss) to net cash provided by/(used in) operating activities, Depreciation and Amortization 57,412 358,708 1,944,325 Nonoperating Income-PFC - - 1,280,770 Nonoperating Income-Insurance Recoveries - - - Change in Assets and Liabilities. (Increase)/Decrease in,accounts receivable (10,147) _ 101,843 (Increase)/Decrease in Due from other funds 7,115 - (44,626) (Increase)/Decrease in Due from other gov't units 4,069 134 - Increasel(Decrease) in Accounts payable 46,143 (416) (659,035) Increasel(Decrease) in Accrued wages/benefits (6,566) 2,626 (4,322) Increasel(Decrease) in Claims/judgments payable - - - Increaset(Decrease) in Due to Esther funds - 322 31,601 Increasel(Decrease)in Due to other gov't units 688 1,052 277,269 increasel(Decrease) in Camp, absences payable (62,758) (9,504) (2,321) Increasel(Decrease) in Deposits in escrow (500) - - Increasel(Decrease) in Landfill Closure Casts 4,126 - _ Increasel(Decrease) in OPE6 liability 141,671 78,543 123,320 Total adjustments 181,253 _ 431,465 31048,824 Net Cash Provided by/(Used in) Operating Activities $ 2,059,362 $ 102,617 $ (503,019)_ Noncash investing,capital,and financing activities: Gain (Loss) on disposition of assets $ 3,023 $ - $ �83 1572) Forgiveness of capital lease amount 2go,-00 - $ - Change in fair value of investments 32 3 76 � 07)_ Cash Reconciliation: Unrestricted $ 1,001,905 $ 896,320 $ 506,595 Restricted 6,357 - 7,008,220 Total $ 1,008,262 $ 896,320 $ 7,514,815 The notes to the financial statements are an integral part of these statements. i i E-27 Governmental Manor Funds Activities Internal Marathon Service Airport Total Funds $ (1,220,407) $ (3,522,989) $ _ (8ft651) 584,887 2,945,332 64,271 - 1,280,770 - - 439,164 (1,920) 89,776 22,593 132,548 95,037 (82,775) - 4,203 51,987 (329,530) (942,838) 202,639 (1,038) (9,300) (4,178) - - 31 ,476 243,398 275,321 1,468 132,898 411,907 6,549 (4,751) (79,334) (2,419) - (500) - - 4,126 - 63,863 407,397 135,065 820,355 4,481 897 1,_146,840 $ _ 00,052) $ 958,908 $ 28189 $ - $ 180,549 $ (20,896) 5 - 0,000 7 - $ 110,944 $ 2,515,764 $ 4,140,529 7,014,577 - $ 110,944 $ 9,530,341 $ 4,140,529 _... _- -rrrnnnnn ...�_ E-28 MONROE COUNTY, FLORIDA STATEMENT OF FIDUCIARY NET ASSETS FIDUCIARY FUNDS September 30, 2011 Fire-and EARS Pension Agency Trust Farad Funds ASSETS Cash and Cash Equivalents $ 107,339 $ 5,329,006 1 nvestments 745,098 - Accounts Receivable 3,050 9,394 Total Assets 855,487 $ 5,338,400 LIABILITIES Due to Others - $ 2,207,071 Due to Other Governmental Units - 3,131,329 Total Liabilities - 5,338,400 NET ASSETS Field in Trust for Pension Benefits and Other Purposes $ 855,487 i i The notes to the financial statements are an integral part of these statements. Y E-2 MONROE COUNTY, FLORIDA STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS FIDUCIARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2011 Fire and EMITS Pension Trust Fund Additions: Employer Contributions $ 30,378 Investment Income 6,021 Total Additions 36,400 Deductions: Administration (4,358) Pension Benefits (24,660) Total Deductions (29,018) Change in Net Assets 7,382 Total Net Assets-October 1 848,105 Total Net Assets-September 30 855,487 The notes to the financial statements are an integral part of these statements. ' E-30 NOTES TO FINANCIAL STATEMENTS MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following summary of the more significant accounting policies of Monroe County, Florida (County) is presented to assist the reader in Interpreting these financial statements and should be viewed as an integral part of this report. Resorting_Entity: Entity status for financial reporting purposes is governed by Statement No. 14, as amended by Statement No. 39, of the Governmental Accounting Standards Board (GASB) and Rules of the Auditor General, State of Florida. The GASB is the standard-setting body for the establishment of accounting principles generally accepted in the United States of America (GAAP) for governmental entities. Determination of the financial reporting entity of the County is founded upon the objective of accountability. Therefore, these financial statements include the County government (the primary government) and 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. The County is a Non-Charter County established as provided by Article Mill Section 1 of the Florida Constitution and Section 125 of the Florida Statutes. The Board of County Commissioners (Board), composed of five members, is the legislative body for the County and as such budgets and provides funding used by the separate Constitutional feces with the exception of fees collected by the Clerk of the 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 Court, 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 the 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. 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 burdens on the primary government. All component units of the County have a September 30 fiscal year end. Blended component units are legally separate entities that are in substance part of the Bounty'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 Flan Land Authority LA -The MCLA was created by Monroe County, Florida Ordinance 031-196 pursuant to Florida Statute 380 and is considered a. F- MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE I •SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(Continuer!) legally separate entity from Monroe County. Its purpose is to operate a land acquisition program, to implement the Monroe County Comprehensive Plan and address issues created by if. The 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 120E Truman Avenue, Suite 207, Key West, Florida 33040. Monroe County Industrial Development Authority MCIDA -The MCIDA was created by Monroe County, Florida Resolution pursuant to Florida Statute 19. 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 MCIDA. As an issuer of"conduit" debt obligations, the MCIDA has no assets or liabilities. Basis of Presentation: Government=wideFinancial Statements: The statement of net assets and the statement of activities report information about the nonfiduciary activities of the primary government. Fiduciary funds of the government are eliminated from this presentation since these resources are not available for general government funding purposes. These statements provide a consolidated financial picture of the government distinguishing between governmental activities and business type activities. Governmental activities are primarily financed through taxes and intergovernmental revenues, while business-type activities are primarily financed through charges for services to external parties. The statement of activities presents a comparison between direct expenses of the program revenues for each function of the County's governmental activities, and for each of the business-type activities, Direct expenses are those that are clearly identified with a specific program or segment. Program revenues include (a) fees, fines and charges for services, and (b) grants and contributions that are restricted for the operating or capital requirements of a specific program. All taxes and other revenues not meeting the criteria for classification as program revenues are reported as general revenues, Fund Financial Statements: The fund financial statements provide information about the County's funds, including its fiduciary fund and blended component unit. Separate statements for each fund category - governmental, proprietary, and fiduciary - are presented. The emphasis of fund financial statements is on major governmental and enterprise funds, each displayed in a separate column. All remaining governmental and enterprise funds are aggregated and reported as nonmajor funds. Proprietary fund operating revenues, such as charges for services, result from exchange transactions associated with the principal activity of the fund. Exchange transactions are those in which each party receives and gives up essentially equal values. Nonoperating revenues, such as subsidies and investment earnings, result from non-exchange transactions or ancillary activities. The following are reported as major governmental funds: F-2 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) General Fund -This 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 - This fund is 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 Special Revenue Fund -This fund is for projects and programs which are financed in whole or in part by agencies of the Federal Government, State of Florida, and local governments. HIDTA Grants Special Revenue Fund - This fund is to account for all revenues and expenditures for the ONDCP grants. Comprehensive Plan Land Authorily S ecial Revenue Fund - This fund is to account for the operation of a land acquisition program. One Cent Infrastructure Surtax Capital Proiect Fund-This fund is to account:for various capital improvements funded by the one cent infrastructure surtax. Infrastructure Sales Surtax Revenue Bonds Series 2007 Capital Proiect Fund -This fund is to account for the proceeds and the approved projects identified in the same bond issue. All Debt Service Fund - This fund accounts for the accumulation of resources for, and the payment of, all of the general governmental long-term debt principal and interest. The following are reported as major enterprise funds: Municipal Service District-Waste W- This fund is 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 - This fund is for the operations of the County's only toll bridge located on Card Sound Road. Key West Airport - This fund is used to account for the operations of Monroe County's Key West International Airport. Marathon Airport -- This fund is to account for the operations of Monroe County's Marathon Airport. The County also reports the following fund types: Internal Service Funds - These funds account for the financing of worker's compensation insurance, health insurance, general liability insurance and fleet maintenance services provided to other County Departments on a cost reimbursement basis. F-3 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Pension Trust Fund - The volunteer firefighters and emergency services length of service award plan is a pension trust fund to mount for the receipt and disbursement of assets that are held by the County in a trustee capacity. Agency Funds - These funds account for assets held on behalf of third parties and do not involve the measurement of operating results. Examples include taxes, fees, and fines collected on behalf of other governments. Measurement Fo nd Basis of Ac ntin Govemment-wide, Proprietary, and Fiduciary Frond Financial Statements - These statements use a flow of economic resources measurement focus and: the accrual basis of accounting. Revenues are recognized when earned and expenses are recognized when incurred, regardless of when the related cash flows take place. Amounts reported as program revenues include 1) charges to customers or applicants for goods, services, or privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions, including special assessments. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes. 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 are accrual basis, revenue from grants, entitlements, and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied. Proprietary funds distinguish operating revenues and expenses from nonoperting items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary funds 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 cast of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. GASB 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 applied in the preparation of the County's enterprise fund financial statements. Govemmental Fund Financial Statement. - These statements use a current financial resources measurement focus, and are maintained on the modified accrual basis of accounting. Revenues are recognized when they become susceptible to accrual; that is, when they became 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 F-4 MONROE COUNTY, FLORtDA Motes To Financial Statements For the Year Ended September 30, 2011 NOTE 'I -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) or when amounts have been accumulated in the debt service fund for payments to be made early in the following year. Expenditures related to compensated absences are recorded only when leave has been taken. Revenues of the County, which are susceptible to accrual under the modified accrual basis of accounting, include property taxes, gas taxes, sales taxes, grants, interest revenue, and charges for services. In applying the susceptibility-to-accrual concept to intergovernmental revenges, the legal and contractual requirements of the numerous individual programs are used as guidance. There are, however, essentially two types of these revenues. In one, monies must be expended for the specific purpose or project before any amounts will be paid to the County; therefore, revenues are recognized based upon the expenditures recorded. In the other, monies are virtually unrestricted as to purpose of expenditure and substantially irrevocable; i.e., revocable only for failure to comply with prescribed compliance requirements, such as with equal employment opportunity. These resources are reflected as revenues at the time of receipt or earlier if they meet the availability criterion. If revenues are expected to be received later than Gil days following the end of the fiscal year, then a receivable is recorded, along with deferred revenue. Once the funds are received, revenue and cash are recorded and the receivable and deferred revenue are eliminated. Deferred revenue also includes unearned revenue when receipts have not met all of the earning requirements. The proprietary fund and pension trust fund financial statements use a flow of economic resources measurement focus and the accrual basis of accounting. Revenues are recognized when earned and expenses are recognized when incurred, regardless of when the related cash flows take place. Under the terms of the grant agreements, the County funds certain programs by a combination of speck cost-reimbursement grants, categorical block grants, and general revenues. Thus when program expenses are incurred, there are both restricted and unrestricted net assets available to finance the program. It is the County's policy to first apply cost-reimbursement grant resources to such programs,followed by categorical block grants, and then by general revenues. Budgets and Budgetary 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 ad 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 budget is submitted to the public. Public hearings are held to obtain taxpayer comments. 4) Fifteen days after adoption of the tentative budget, a final budget is submitted for review and adoption at a final public hearing. 5) Prior to, or on September 30, the Board's budget is legally enacted through passage of a i resolution. Accordingly all fund types have an adopted budget as required by Florida Statute 129.03. 6) During the year, the Office of Management and Budget acts on intradepartmental budget changes that do not alter the total revenue or expenditures budgeted to a cost center. A cost center i F-5 A x #i ONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 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 Beard. Supplemental appropriations were necessary and the budgetary data presented herein was amended by the Board during the year. 7) Florida Statute 129, Section 7, as amended in 1978, provides that only expenditures in excess of total fund budgets are unlawful. However, because the Board acts on all budget changes between cost centers, this becomes the level of control. 8) Budgeted to actual expenditure reports are employed as a management control device during the year for all fund types. 9) Budgets for all funds are adopted on a basis consistent with accounting principles generally accepted in the United States of America (GAAP) for that fund type, 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 2011 the following adjustments were necessary to present the actual data on a budgetary basis for MCLA. GAAP basis $2,381,409 Compensation accrual 599 Non-GAAP budgetary basis $2,382,008 Use of Estimates - The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America, as applicable to governmental units, requires management to mace use of estimates that affect the reported amounts in the financial statements. Actual results could differ from estimates. Encumbrances - Encumbrance accounting, under which purchase orders, contracts, and other commitments for the expenditure of moneys are recorded in the restricted, committed or assigned fund balance classifications, and is employed as an extension of the statutorily required budgetary process. Under Florida Statutes, appropriations, even if encumbered, lapse at fiscal year end. It is the County`s intention to substantially honor these encumbrances under authority provided in the subsequent year's budget. Cash and Cash Equivalents - Cash balances from the majority of funds are pooled for investment purposes. Earnings from such investments are allocated to the respective funds based on applicable cash participation by each fund. The investment pools are managed such that all participating funds have the ability to deposit and withdraw cash as if they were demand deposit accounts, 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 maturity of 90 days or less, are considered to be cash equivalents. Investments - Florida Statute 218.415 authorizes local governments to invest its funds pursuant to a written investment plan, which allows investment of surplus funds in the following: 1) The Florida Local Government Surplus Funds Trust Fund investment Pool (SBA). F-6 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 2) United States Government Securities - Negotiable direct obligations or obligation, the principal and interest of which are unconditionally guaranteed by the united States Government. 3) United States Government Agencies - Bonds, debentures, notes, callables and fixed rate mortgage-backed securities issued or guaranteed by United States Government Agencies, provided such obligations are backed by the full faith and credit of the United States, 4) Federal Instrumentalities (United States Government-sponsored agencies) - senior obligations, which include bonds, debentures, notes, callables and fixed rate mortgage- backed securities issued or guaranteed by United States government-sponsored agencies (Federal Instrumentalities). These are limited to the following, E Federal Farm Credit Bank (FFCB) = Federal Home Loan Bank or its County banks (FHLB) Federal rational Mortgage Association (FNMA) 0 Federal Home Loan Mortgage Corporations (Freddie-Macs) including Federal Nome Loan Mortgage Corporation participation certificates. 6) Interest-bearing Time Deposit or Savings Account - Non-negotiable interest-bearing time certificates of deposit or savings accounts in financial institutions organized under the laws of this State and/or in national financial institutions organized under the laws of the United States and doing business and situated in the State of Florida, provided that any such deposits are secured by the Florida Security for Public Deposits Act, Chapter 280, Florida Statutes. Additionally, the financial institution shall not be listed with any recognized credit watch information service. 6) Registered Investment Companies (Money Market Mutual Funds) - Shares in open-end and no-load Money Market Mutual Funds provided such funds are registered under the Federal Investment Company Act of 1940 and operate in accordance with 17 C.F.R. 270.2a-7, which stipulates that money market funds must have an average weighted maturity of 90 days or less. In addition, the share value of the money market funds must equal to $1.00. 7) Intergovernmental Investment Pool - Intergovernmental Investment Pools that are authorized pursuant to the Florida Interlocal Cooperation Act, as provided in Section 163.01, Florida Statutes. All investments are stated at fair value, 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 ActiviEy - During the course of normal operations, the County has numerous transactions between funds. Examples of these transactions include providing services, constructing assets, matching grants or servicing debt. These transactions are generally recorded as interfund transfers, except for internal service fund charges, which are reflected as revenues to internal service funds and expenses/expenditures to the funds receiving the services. As part of the consolidation process, to avoid distorting financial results, the interfund activities are eliminated in the General Fund. Interfund activities such as municipal and unincorporated service district's policing, 911, and interagency communications are reported as a revenue in the fund that captures the revenue and as an expenditure in the fund which disburses the funds for the service. The F-7 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) offsetting expenditures and revenues are re-classed to interfund transfers. However, interfund security services provided by the Sheriff and used by the airports, are not eliminated. Additionally, short-term interfund loans are recorded 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 ether funds" on the fund financial statements. Inventor -- 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. Inventories are reported as an nonspendable classification of fund balance as these amounts are not in spendable form and are not expected to be converted to cash. Restricted Assets - The use of certain assets of enterprise funds is restricted by specific provisions of bond resolutions and agreements with various parties. Assets so designated are identified as restricted assets on the balance sheet. When both restricted and unrestricted resources are available for use, the hierarchy of enterprise fund spending is to use restricted resources first, and then unrestricted resources as they are needed. Mortgage/Notes Receivable - The outstanding principal balance reported as Mortgages/Notes Receivable in the Comprehensive Plan Land Authority Special Revenue Fund is equally offset by a nonspendable fund balance as these amounts are not in spendable form. This also represents the primary difference in fund balance for the Comprehensive Plan Land Authority Special Revenue Fund on a GAAP basis versus the budgetary basis. The mortgages receivable associated with the Governmental Grants, the Affordable Housing Programs and the Local Housing Assistance fund are intended to ultimately be forgiven, as such they are offset by an allowance for uncollectible accounts. Deferred Charges - Unamortized debt issuance expenses are reported as a deferred charge and is amortized by using the straight-line method over the life of the debt, Capital - Capital assets are reported in the applicable governmental or business-type activities column in the government-wide financial statements. Capital assets of the County include property, buildings, equipment, and infrastructure assets (e.g. roads, bridges, curbs and gutters, streets and sidewalks, drainage systems and lighting systems). Constructed or purchased assets are recorded at historical or estimated historical cost at the time of purchase. Donated assets are recorded at estimated fair market value at the date of donation. Costs of maintenance and repairs that do not add to the value of assets or extend their useful lives are not capitalized. The County maintains a $1,000 threshold for additions to equipment with an estimated useful life in excess of two years. Buildings are capitalized when the value is $15,000 or greater. Public domain and infrastructure assets represent major expenditures for such items as roads, water and sewer treatment plants and lines, landfill improvements, parks and drainage systems. Additions and improvements for roads, water, sewer, landfill and drainage infrastructure are capitalized when the cast amounts to $250,000 while park additions and improvements are capitalized at $25,000. F-8 MONROE COUNTY, FLORIDA Bates To Financial Statements For the Year Ended September 30, 2011 NOTE i -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 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 11 % of the 1986 tax assessed value. All capital assets except land and construction in progress are depreciated using the straight-line method. The estimated useful lives of the various classes of depreciable capital assets are as follows: Life--Years Buildings 10-50 Equipment 5-10 Infrastructure 10-50 Public domain infrastructure 20-50 Capacity rights 99 Capacity rights represent an intangible asset that arose from a contract with a private wastewater operator that included wastewater processing capacity for 1,500 equivalent dwelling units for a period of 99 years. As required by the interest topic of the FASB Accounting Standards Codification, enterprise funds capitalize interest cost net of interest income from the proceeds of related tax-exempt debt, as part of the cost of the related assets. There was no capitalized interest cost at fiscal year end. Unamortized Debt Issuance expense - Unamortized debt issuance expense of the enterprise fends 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 earnest. Landfill Closure Casts - 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 pup to 30 years after closure. In accordance with GASB Statement No. 15, 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. Unearned revenues are primarily associated with state and federal grants. Long-Term Obligations - Long-term debt is reported as a liability in the proprietary fund statement of net assets. Long-term debt associated with the County's governmental activities is presented on the government-wide financial statements of the County. In the County's governmental fund financial F- MONROE COUNTY, FLORIDA Dotes To Financial Statements For the Year Ended September 30, 2011 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) statements, the face amount of debt issued is reported as another financing source, while principal payments are reported as expenditures. Pr©pe* Taxes - Property taxes, based on assessed values at January 1, are levied and become due and payable on November 1st 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 1 st of each year. No accrual for the property tax levy becoming due in November of 2012 is included in the accompanying financial statements, since such taxes are collected to finance expenditures of the subsequent period. Fund Balance Policies - The Governmental Accounting Standards Board (GASB) issued Statement No-54, Fund Balance, Reporting and Governmental Fund Type Definitions (GASB 4). One objective of this standard was to improve, including the understandability, the usefulness of fund balance information by providing clear fund balance classifications. GASB 54 requires local governments to focus on the constraints imposed upon resources when reporting fund balance in governmental funds. The fund balance classifications indicate the level of constraints placed upon hove resources can be spent and identify the sources of these constraints. The following five classifications serve to inform readers of the financial statements of the extent to which the County is bound to honor constraints on the specific purposes for which resources in a fund can be spent. GASB 54 abandons the reserved, unreserved, and designated classifications of fund balance and replaces therm with five classifications: nonspendable, restricted, committed, assigned, and unassigned. Fund balances of governmental type funds are classified as follows: Nonspendable - Include amounts that cannot be spent because they are either not in spendable form, or for legal or contractual reasons, must be kept intact. This classification includes inventories, prepaid amounts, assets held for sale, and long-term receivables. Restricted - include amounts that can be spent only for specific purposes because of constitutional provisions or enabling legislation, or because of constraints that are externally imposed by creditors, grantors, contributors or the laws or regulations of other governments. Committed Include amounts that can be used only for the specific purposes determined by a formal action (ordinancelresolution) of the Board of County Commissioners, the County's highest level of decision making authority. Commitments may be changed or lifted only by the Board of County Commissioners taking the same formal action (ordinancefresolution) that imposed the constraint originally. Assioned - Include amounts that are intended by the County to be used for specific purposes, but are neither restricted nor committed. The County Administrator will have the authority to assign fund balance based on intentions for use of fund valance communicated by the Board. `-10 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Unassioned - This is the residual classification of the General Fund. Only the General Fund reports a positive unassigned fund balance. Other governmental funds might report a negative balance: in this classification, as the result of overspending for specific purposes for which amounts had been restricted, committed, or assigned. Unassigned fund balance does not necessarily represent amount of fund balance that can be appropriated. The County has the responsibility of responding to emergency disaster and will set a goal of$10 million in disaster reserve funds; however, the disaster reserve funds were not adopted in ordinance/resolution form and was not part of the September 30, 2011 budget. Therefore, the disaster reserve was not reported as committed. It is also the goal of the Board to achieve and maintain an unassigned General Fund balance equal to four months of budgeted expenditures; however, it was not adopted in ordinance/resolution form. A portion, $5,360,856, of their goal was reported as unassigned fund valance. The County spends restricted amounts first, when both restricted and unrestricted fund balance is available, unless prohibited by legal documents, grant agreements or contracts. Additionally, the County uses committed fund balance, followed by assigned fund balance and then unassigned fund balance when expenditures are incurred for purposes for which amounts in any of the unrestricted fund balance classifications could be used. GASB 54 was implemented this fiscal year in accordance with its effective date. Due to the implementation of GASB 54 in the current year, the following changes were made: The nonmajor special revenue funds were removed as they merged into the Sheriff's Contract Administration Fund, Sheriff's Off-Duty, Sheriffs Impact Support and Sheriffs Airport, none of which had a fund balance. Additionally, the nonmajor special revenue Sheriffs South Florida Law Enforcement Trust Fund was merged with the Sheriff's Federal Forfeiture Fund and the fund balance of $687,475 was transferred to the Sheriff's Federal Forfeiture Fund, eliminating the Sheriff's South Florida Law Enforcement Trust Fund Fund Balance. The nonmajor special revenue 911 Enhancement Fees Fund and the Sheriffs E911 Fund were consolidated and the fund balance of$47 was transferred to the Sheriff's E911 Fund, eliminating the 911 Enhancement Fees Fund Fund Balance. The Law Enforcement Trust Fund and the Sheriff's State Forfeiture Fund were consolidated and the fund balance of $643,022 was transferred to the Sheriffs State Forfeiture Fund, eliminating the Law Enforcement Trust Fund Fund Balance. Budgetary Leaal Compliance and Fund Deficits - For the year ended September 30, 2011 the Clerk's Court Related Special Revenue Fund exceeded appropriations. The Clerk originally estimated that the court related fund would return $444,180 as excess fees. The Clerk was able to return an additional $45,693, which appears as an unfavorable expenditure variance. The Supervisor's Voter Ed & Equipment, a nonmajor special revenue fund, does not have a legally adopted budget. There are no fund deficits to report at September 30, 2011_ 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 total $8,938,529, which represents constraints on resources that are either externally imposed by creditors, grantors, contributors, or laws or regulations of other governments or imposed by law through state statute. F-11 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 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, 2011 the carrying value of the County's deposits and investments, other than that of the Pension Trust Fund cash of $107,339 and investments of $745,098, with their respective credit ratings are as follows: Credit Less than 6 6 Months to Investment Type Rating Fair"Value Months 1 Year 9 to 3 Years Demand and Time Deposits N/A $ 83,421,642 $ 83,421,642 $ - $ - Local Gov't Surplus Funds Unrated 309,797 150,652 - 159,145 US Treasury Notes TSY 67,063,085 28,007,849 25,850,627 13,204,609 Federal Agency-Notes& Bonds AAA 103,685,970 31,988,009 27,220,377 44,477,584 Commercial Paper A-1+ 496,961 496,961 - - Total Fair Value $254,977,455 $144,066,113 $53,071,004 $57,841,338 Credit Risk - The County's Investment Policy (Policy) limits credit risk by restricting authorized investments to the fallowing: Florida Local Government Surplus Funds Trust Fund Investment Pool administered by Florida's State Board of Administration to 2a7-like pooh, direct obligations of the United States or its agencies and instrumentalities, money market mutual funds, and Intergovernmental Investment Pools authorized by the Florida Statutes. The Policy requires that investments in federal instrumentality debt be guaranteed by the full faith and credit of the U. S, Government sponsored agency, and that investments in money market mutual funds have a rating of AAAm or AAAm-G or better by Standard & Poor's (S&P) or other nationally recognized rating agency. All credit ratings indicated in the previous table are S&P ratings. Concentration of Credit Risk - The Policy establishes limitations on portfolio composition, both by investment type and by issuer, in order to control concentration of credit risk. The Policy provides the following maximum limits of the portfolio, with limits in any one issuer of the portfolio invested: 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 80% 30%, with a maximum of Maximum in callable securities 25% in callable securities interest-bearing Time Deposit or Savings Accounts 10% 10% Money Market Mutual Funds 20% 10% Intergovernmental Investment Pool 10% nfa At September 30, 2011 the portion of the County's investment portfolio invested in Federal instrumentalities is detailed as follows: F-12 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 2 -CASH, CASH EQUIVALENTS AND INVESTMENTS - (Continued) Percent of Issue Investment Portfolio Fannie Mae 0. 9% Federal Home Loan Funk 13,51% Federal Horne Loan Mortgage Carp (of which 3.40% is callable) 17.13% Federal National Mortgage Assoc 26.14% Federal Farm Credit Rank 3,48% Custodial Credit Risk-The Policy requires bank deposits secured as provided by Chapter 280, Florida Statutes. This law requires local governments to deposit funds only in financial institutions designated as qualified public depositories by the Chief Financial Officer of the State of Florida. Demand and time deposits are fully insured by the FDIC for the first $250,000 at each institution and the remaining balances ;are insured 100% by the State of Florida collateral pool, a multiple institution pool with the ability to assess its members for collateral shortfalls if a member institution falls_ 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, 2011, 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 non current operating funds to five years. gash and Cash E uivalents - The County has the following unrestricted and restricted cash and cash equivalents at September 30, 2011: Local Government Demand Surplus Trust Fund Deposits Total Unrestricted Cash & Cash Equivalents: Governmental activities: Governmental Funds $ 308,751 $64,422,812 $64,731, 63 Internal Service Funds - 4,140,529 4,140,529 Business-Type Activities - Z515,764 2.515,764 Total Unrestricted Cash & Gash Equivalents 308.751 71,079,105 71 3, 8 856 Restricted Cash and Gash Equivalents: Business-Type Activities 1,046 7,013,531 7,014,577 Total Cash and Gash Equivalents $76,092,636 $78,402,433 At September 30, 2011 the fiduciary funds had pooled cash balances totaling $5,436,345 in demand deposits, including the Pension Trust Fund cash of$107,339. NOTE 3-RESTRICTED ASSETS Restricted assets in the Enterprise Funds include those created by resolutions adopted by the County for the landfill escrow account, airport passenger facility charges, and the issuance of Key West Airport Revenue Bonds. Total restricted assets as of September 30, 2011 are as follows: F-13 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 3-RESTRICTED ASSETS - (Continued) Cash and Casts Interest Equivalents Investments Receivable Total Municipal District Waste Landfill Closure Escrow $ 6,357 $ 1, 93,06 $ 4,400 1,903,813 Key West Aj[port Passenger Facility Charge 1,564,034 735,722 1,181 2,300,937 Sinking Fund 1,591,541 - - 1,591,541 Renewal and Replacement 5,417 523,415 1,040 529,872 Debt Service Reserve 2,759,567 - - 2,759,567 Construction Fund 993,712 931,953 2,403 1,928,068 Operating Reserve 87,888 174,758 - 262,646 Arbitrage Rebate 6,061 - - 6,061 $ 7,014,577 $ 4,258,904 $ 9,024 $ 11,282,505 NOTE 4-ACCOUNTS RECEIVABLE Accounts receivable, in the accompanying fund financial statements, are shown net of the allowance for doubtful accounts. The accounts receivable and the allowance balances are as follows. Allowance for Accounts Accounts Uncollectible Receivable, Service Provided Receivable Accts Net Governmental Activities: General Fund Misc $ 46,274 $ 3,596 $ 42,678 Fine & Forfeiture Fund Air Amb Svc 4,096,811 3,336,675 760,136 Governmental Grants Fund Miso 79 - 79 HID TA Grants Fund Misc 7,659 - 7,659 Nonmajor Funds: Fire&Amb Dist 1 Fund Ground Arab Svc 1,608,316 1,416,340 191,976 Other Nonmajor Funds Misc 63,145 - 63,145 internal Service Funds Misc 14,183 2,802 11,381 Total Governmental Activities 5,836,467 4,759,413 1,077,054 Business-Type Activities: MSD-Waste Fund: Tipping Fees 24,524 4,300 20,224 Waste Assessments 569,737 540,914 28,823 Solid Waste Franchise 392,089 - 392,089 Key West Airport Rent, Misc 635,611 52,920 572,691 Marathon Airport Misc 30,650 - 30,650 Total Business-Type Activities 1,652 611 608,134 1,044,477 Total Accounts Receivable $7,489,078 $5,367,547 $2,121,531 F-14 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 4-ACCOUNTS RECEIVABLE - (Continued) The County approved an air ambulance billing write off during the year of $961,699 and a ground ambulance billing write off of$284,954. NOTE 5 - MORTGAGES RECEIVABLE Mortgages receivable at September 30, 2011 consist of the following: Mamor 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 lot anniversary of the completion of the construction of the improvements funded by the mortgage, provided that the mortgagor complies with the mortgage covenants. $ 5,242 Second Mortgages Receivable from individuals, collateralized by personal residences. payment of principal deferred for ten (10) years from date of note. Principal is amortized in equal monthly amounts starting in year six (6) until ten (10) at which time the loan is fully forgiven. In event of sale/transfer of property or occupancy the prorated principal balance is due in full within thirty (30) days of 37,686 sale/transfer or cessation of primary residence. 42,928 Comprehensive Plan land Authority Fund: First mortgage due from governmental agency, collateralized by land, payable in full April 2028, interest free 382,554 Second mortgage due from governmental agency, collateralized by land, payable in full November 2034, interest free 1,500,000 Second mortgage due from governmental agency, collateralized by land, payable in fail January 2034, interest free 2,210,000 First mortgage due from governmental agency, collateralized by land, 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 2063, interest free 1,500,000 Second mortgage due from governmental agency, collateralized by land, payable 836,000 in full July 2040, interest free F-15 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 5 - MORTGAGES RECEIVABLE (Continued) Third Mortgage due from governmental' agency, collateralized by land, forgivable 800,OOQ July 2040, interest free Total Ma.ior Governmental Funds __ 8�376.57J NonMajor�, pvernmental Funds- Local Housina Assistance: Second Mortgages Receivable from individuals, collateralized by personal residences. Commencing in year sixteen of the mortgage, principal and accrued interest at 3%will be forgiven at the rate of 6.66% annually. The entire principal balance and accrued interest will be forgiven at the end of year thirty. If the residence is sold before the initiation of the forgiveness period, the full amount of the mortgage and accrued interest is due at closing. 135,015 Second Mortgages Receivable from individuals, collateralized lay personal residences. Principal payments shall be deferred for the term of the first mortgage loan, or until the state the last payment is due on the first mortgage. Interest is not charged an the mortgages unless the mortgagor is in default, in which case the interest rate is 12% per annum from the date when payment of the second is due. The entire balance of the loan is intended to be forgiven. However, in the event the home is sold, transferred, rented, refinanced or the first mortgage loan is satisfied, the entire mortgage balance is due. 7,931,137 Second Mortgages Receivable from individuals, collateralized by personal residences. The entire balance of the mortgage will be forgiven upon maturity, provided that the mortgagor complies with the mortgage covenants. The mortgages are interest free. 573,219 Second Mortgages Receivable from individuals, collateralized by personal residences. The entire balance of the mortgages will be forgiven over ten, fifteen or twenty years, provided that the mortgagor complies with the mortgage covenants. The mortgages are interest free. 372,587 Florida Hornebuyer Opportunity Tax Credit (FHOP), Second Mortgages Receivable from individuals, collateralized by personal residences. Interest on note is 6% per ann m, except if paid in full within first 18 months of repayment period then interest rate shall be 0%from the date when the first payment is due. 25,364 9,037,322 Total Mortgages Receivable S 17. 56,8a NOTE 6— CAPITAL ASSETS Internal service fund capital asset information is included in the governmental activities on the government-wide financial statements, because the internal service funds predominately serve these activities. F--16 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE $-CAPITAL ASSETS-(Continued) Capital asset activity for the year ended September 30, 2011 is as follows: Beginning Ending Balances Additions Reductions Balances Governmental Activities Capital assets not depreciated: Land $88,266,299 $ 1,359,051 $ - $ 89,625,350 Construction in progress 46,752,466 7,350,753 36,267 973 17,835,246 Total capital assets not depreciated 135,018,765 8 709,804 36 267,973 107,460,596 Capital assets depreciated: Buildings 149,378,863 330,914 22,500 149,687,277 Equipment 61,644,281 3,927,560 1,922,786 63,649,055 Infrastructure 49,755,846 36,178,564 - 85,934,410 Capacity rights 3 150,000 - - 3,150,000 Total capital assets depreciated 263,928,990 40 437,038 1 945,286 302,420 742 Less accumulated depreciation for: Buildings 43,678,742 3,206,868 22,500 46,863,110 Equipment 36,420,500 4,725,423 1,920,661 39,225,262 Infrastructure: 24,902,449 1,744,558 - 26,647,007 Capacity rights 190,908 31,818_ - 222,726 Total accumulated depreciation 105,192,599 $9 708,667 $1 943 161 112 958,105 Total capital assets depreciated, net 158,736,391 189,462,637 Governmental funds, capital assets, net $ 293,755,156 $ 296,923,233 Business-tvc Activities: Capital assets not depreciated: Land $ 5,141,787 $ - $ - $ 5,141,787 Construction in progress 7,493,772 2 037 862 411,943 9,11?,691 Total capital assets not depreciated 12163 ,559 2,037,862 411,943 _14,261,478 Capital assets depreciated: Land improvements 212,925 - - 212,925 Buildings 55,467,155 171,275 345,399 55,293,031 Equipment 4,265,824 477,546 107,632 4,635,738 Infrastructure 41,064,427 - - 41,064,427 Total capital assets depreciated 101 010,331 648,821 453,031 101,206121 Less accumulated depreciation for: Land improvements 212,925 - - 212,925 Buildings 7,040,057 1,377,346 171,102 8,246, 01 Equipment 2,966,481 300,119 103,316 3,163,284 Infrastructure 14,322,310 1,26 867 - 15,590,177 Total accumulated depreciation 24,541,773 $2,945,332 $ 274,418 27,212,687 Total capital assets depreciated, net 76,468,558 73,993 434 Business-type activities, capital assets, net $89,1041117 $88,254,912 Depreciation was charged to fun ctionslprograms on the government-wide Statement of Activities of the County as follows: 1:-17 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 6-CAPITAL ASSETS - (Continued) Governmental Activities Business-type Activities: General Government $1,297,058 Municipal Service District-Waste $ 57,412 Public Safety 5,133,401 Card Sound Bridge 358,708 Physical Environment 803,352 Key Vilest Airport 1,944,325 Transportation 972,333 Marathon Airport 54,887 Economic Environment 6,018 Total Business-type Activities $2,945,332 Haman Services 309,424 Culture and Recreation 427,182 Court Related 759,899 Total Governmental Activities 9.7Q867 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 aPlan"). 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. The Plan includes participants from the BOCC and each Constitutional Officer. The BOCC is responsible for funding all obligations not funded on a pay as you go basis by Constitutional Officers. Accordingly, all disclosures are on a County-wide basis and the net OPEB obligation for the County includes obligations related to the Constitutional Officers. Eligibility for post employment participation in the Plan is limited to full time employees of the County, and the Constitutional Officers. At September 30, 2011, there were no terminated employees entitled to deferred benefits, The membership of the County's medical plan consisted of: Active Employees 1,223 Retirees and beneficiaries currently receiving benefits _375 Total Membership 1,598 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, '-1.8 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 7— POST EMPLOYMENT BENEFITS OTHER THAN PENSION—(Continued) 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 cast equal to the FRS Health Insurance Subsidy for ten years of service (currently$5 per month for each year of service credit at retirement or $50 per month). Retirees who have met the requirements for early retirement, have not achieved age 60 and whose age and years of service do not equal 70 (rule of 70) must pay the standard monthly premium until the age criteria or the rule of 70 is met. At that time, the retiree's cost of participation will be equal to the FRS Health Insurance Subsidy. Surviving spouses and dependents of participating retirees may continue in the plan if eligibility criteria specific to those classes are met. For the fiscal year 2011, the County contributed the following: Claims paid by Group Insurance Fund $ 3,026,297 Allocation of administrative expenses and incurred but not reported costs (IBNR) 314.853 OPEB costs 3,341,150 Less retiree contributions (672,3.86) County contribution $ 2,668,764 Annual OPEB Costs and Net OPE.5 Q1 Ii ation — The County's annual other postemployment 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 GASS Statement 45. The ARC 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, 2009 (the latest actuarial valuation date), 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 $ 9,611,000 Interest on net OPEB obligation 428,000 Adjustment to annual required contribution 363� ,000) Annual OPEB cost 9,676,000 Less Contributions made (2,668,764 Increase in net OPEB obligation 7,007,236 Net OPEB obligation, beginning of year 15,905,280 Net OPEB obligation, end of year $ 2.2,912,61 The County's annual OPEB cost, the percentage of annual CPES cast contributed to the plan and the net OPEB obligation for 2011 and the two preceding years were as follows (amounts expressed in thousands): F-19 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 7- POST EMPLOYMENT BENEFITS OTHER THAN PENSION_(Continued) Fiscal Annual Percentage of Net Year OPEN Annual OPEB OPEB Ended Cast Cost Contributed Obli ation 9130/09 $ 7,078 41.7 % $ 9,507 9/30/10 $ 9,546 33.0 % $ 15,905 9/30/11 $ 9,676 28.0 % $ 22,913 The net OPEB obligation at the end of the year is $21,663,713 for Governmental Activities and $1, 48,803 for Business-type Activities. No trust or agency fund has been established for the playa, there were no adjustments to the annual required contribution or interest earnings. Funded, and Fund no Progress -At September 30, 2011, funded status and funding progress is as follows (amounts expressed in thousands), Actuarial UAI_L as a Accrued Percentage Actuarial Actuarial Liability- Of Valuation Value of Projected Unfunded Funded Covered Covered Date Assets Unit Credit AAL Ratio Payroll Payroll 10/01107* $ - $ 79,637 $ 79,637 0% $68,193 116.80% 10101109 $ - $ 142,473 $ 142,473 0% $65, 57 217.99°Ire "Initial year of playa disclosure, no prior data available 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 assumptions about future 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 Asqum tions Projections of benefits for financial reporting purposes are based on the substantive plan (the plan as understood by the employer and plan members) and include the types of benefits provided at the time of each valuation and the historical pattern of benefit cast sharing between the employers and plan members to that paint. The valuation elated December 13, 2010, for the fiscal dates of October 1, 2009 to September 30, 2010, was prepared using generally accepted actuarial principles and practices, and relied on unaudited census data and medical claims data reported by the County. The valuation used the projected unit F-2 0 �A'�IIIIIIIIIIIIIIII MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 7—POST EMPLOYMENT BENEFITS OTHER THAN PENSION —(Continued) 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 tread rate of 11.0% initially, reduced by decrements to an ultimate rate of 5.0% over twelve 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, that the County°s investments earn a 4.5% rate of return over the long term, and the inflation rate will be 3%. The unfunded accrued actuarial liability is amortized over thirty years on an open basis, as a level percentage of the projected payroll, which is assumed to increase at 3.5% per annum. NOTE 8—FLORIDA RETIREMENT SYSTEM RETIREMENT PLAN Plan Descri.tion — Substantially all full-time County employees are participants in the Florida Retirement System, (FRS), administered by the Florida Department of Management Services, Employees elect to participate in either the defined benefit plan ("Pension Plan), a multiple-employer, cost-sharing public employee defined benefit retirement plan, or the defined contribution plan (Investment Plan) under the FRS. FRS provides retirement benefits, disability benefits, annual oast-of- living adjustments, and death benefits to Pension Plan members and beneficiaries of various governmental units within the State of Florida. Benefits are established by Chapter 121, Florida Statutes, and Chapter 60S, Florida Administrative Code_ amendments to the law can be made only by Act of the Florida legislature. For employees hired before July 1, 2011 and enrolled in the Pension Plan, the FRS provides for vesting of benefits after 6 years of credited service. Normal Pension Plan retirement benefits are available to employees who retire at or after age 62 with 6 or more years of service or after 30 years if under age 62. Benefits are also based on the 5 highest state fiscal years of compensation earned during covered employment. For employees hired July 1, 2011 and thereafter enrolled in the Pension Plan, the FRS provides for vesting of benefits after 8 years of credited service. Normal retirement benefits are available to employees who retire at or after age 65 with 8 or more years of service or after 33 years if under age 65. Benefits are also based on the 8 highest state fiscal years of compensation earned during covered employment. Pension Plan retirement benefits for all employees are based on age, average compensation and years-of-service credit. Early retirement is available after 6 years of service with a 5% reduction in benefits for each year prior to the normal retirement age. In addition to the above benefits, the FRS administers a Deferred Retirement Option Program ("DROP"). This program allows eligible employees to defer receipt of monthly retirement benefit payments while continuing employment with a FRS employer for a period not to exceed 60 months after electing to participate. Deferred monthly benefits are held in the FRS Trust Fund and accrue interest, For employees 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 investment product with a third party administrator selected by the State Board of Administration. Investment accounts may be withdrawn by the employee 90 days after termination or retirement. The Florida Division of Retirement issues a publicly available financial report that includes financial statements and required supplementary information for the FRS. The report may be obtained by writing to Florida Division of Retirement, P.O. Box 9000, Tallahassee, FL 32315-9000, or from the website www.frs.state.fl.us. '- MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 8—FLORIDA RETIREMENT SYSTEM RETIREMENT PLAN---(Continued) Funding Polite — The FRS was noncontributory for Pension Plan and Investment Plan members until June 30, 2011. As of July 1, 2011 all members, with the exception of Deferred Retirement Option Program (DROP) members and re-employed retirees, contribute 3% of their eligible wages. Participating employer contributions are based upon state-wide rates established by the State of Florida on are annual basis effective each July 1, The rates applied to employee salaries effective as of July 1, 2011 are as follows: regular employees, 4.91%, special risk employees, 14.10%, special risk administrative support 6.04%; elected officials, 11.14%, senior management 6.27%, and DROP participants 4.4 %- The County contributed to the plan an amount equal to 10.22% of covered payroll during the fiscal year ended September 30, 2011. The County's contributions made during the years enders September 30, 2011, 2010, and 2009 were $9,153,608, $9,254,338, and $9,015,103, 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, 2T NOTE 8 — 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 created in 1999 and administered by the Board. upon completion of ten (10) years of service, prior to normal retirement age, and in accordance with the terms of LOSAP, a plan member is considered vested. LOSAP provides retirement and death benefits to plan members and beneficiaries. Monroe County Ordinance 026-1999 defines the authority under which contribution and benefit provisions may be amended, This authority is presently held by the Board. LOSAP shall be administered in accordance with the requirements of Chapter 112, Part VII, Florida Statutes. LOSAP had fit participants of which 28 are active, 26 are inactive and 8 are retired members for the plan year ended December 31, 2010 and the County's fiscal year ending September 30, 2011. Separate, stand-alone financial statements for LOSAP are not provided. Summga of S' nificant Accounting AccounLng Polic` — The financial statements of LOSAP are prepared using the accrual basis of accounting. The contributions are recognized when due. Benefits are recognized when clue and payable in accordance with the terms of LOSAP. Administrative costs are paid by the Board. Actuarial valuation casts are paid by LOSAP. All plan investments are reported at fair value. Funding Policy -- Annually, as determined by the actuarial study, the County shall appropriate funds from the budgets of the various volunteer fire/rescue districts. These funds will be applied as contributions to LOSAP. Plan members do not contribute, The current contribution rate is $406 per volunteer year of service. Below is a schedule of funding progress for six years. Actual Actuarial UALL as a Actuarial Value of Accrued Unfunded Funded Covered Percentage of Valuation a Assets Liability (AAL) AAL fUAAL, Rafio P ayroll Covered Payroll 12/31/2005 $626,637 $968,291 $341,654 64.7% NA NA 12/31/2006 700,939 802,005 101,066 87,4% NA NA 12/31/2007 725,508 767,315 41,807 94.6%, NA NA F-22 MONROE COUNTS`, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 9 -- PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES -(Continued) Actual Actuarial UALL as a Actuarial Value of Accrued Unfunded Funded Covered Percentage of Ygluatioft Gate Assets Liab�AL} AALJUAALI Ratio Payroll Covered Pa roll 12/31/2008 782,060 849,172 67,112 92.1% NA NA 12/3112009 817,512 841,547 24,035 97.1% NA NA 12/31/2010 831,083 884,715 53,632 93.1% NA NA NA- Contributions and benefits are calculated based on years of service as the participants are unpaid volunteers. As a result, there are no related covered payroll and no UALL as a percentage of covered payroll. Annual Pension Cost - The County's annual pension cost of $25,179 was equal to the required contribution. The annual required contribution was determined as part of the January 1, 2010 actuarial valuation using the Aggregate Method. Allocations are based on years of service and the aggregation used is by fire district. This method does not separately amortize unfunded actuarial liabilities. Under this method, gains and losses are spread over future normal casts. The significant actuarial assumptions used to compute the pension benefit obligation were, 1. Investment Yield. 2.5% for both present and future 2. Mortality Pattern: Not applicable 3. Salary increases: Not applicable; Benefits not based can salary 4. Termination., Godwin's Table 1, V Select & Ultimate Table, with 50%termination prob for Y0S<1 5. Inflation: No increase as benefits are based on a flat amount per year of service The annual pension cost (APC), the percentage of APC contributed to the plan, and the net obligation for the plan year ending December 31, 2010 and the five preceding years were as follows: Fiscal Annual Percentage Net Year Pension of APC Pension EgojW Cost SAP Cont(�auted Obligation 12/31/05 $61,050 100% - 12/31/06 24,233 100% 12/31107 28,477 100% 12131/08 24,777 100% 12/31109 23,714 100% 12131/10 25,179 100% NOTE 10- CAPITAL COMMITMENTS Construction projects under present contractual agreements as of September 30, 2011 are as follows: F-23 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 10-CAPITAL COMMITMENTS -(Continued) Project Construction Commitments Duck Key Wastewater $ 7,025,163 Key Large WWTD ILA 1,790,478 Marathon Courthouse Renovation 607,271 Key West Airport Terminal 493,255 Freeman Justice Center 379,221 Marathon EOC 192,922 Miscellaneous 360 688 Total $ 10,848,998 Included in the construction commitments are encumbrances for the One Cent Infrastructure Surtax and the Infra Sls Srtx Revenue Bonds, Series 2007 Major Funds for $261,976 and $1,401,415, respectively. The Comprehensive Plan Land Authority has approximately $147,600 of commitments to acquire various properties, $980,000 of commitments to issue mortgage loans and $247,357 to donate conservation land to the State Board of Trustees as of September 30, 2011. Significant encumbrance commitments, excluding those related to construction projects above, at September 30, 2011 are as follows: Encumbrance Governmental Activities: Road & Badge Fund $ 233,129 Governmental Grants Fund 637,542 Total Governmental Activities $ 870,671 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, 2011: Governmental Business-type Activities Activities Fiscal year ending September 30: 2012 $ 1,460 $ 50,000 2013 - 50,000 2014 - 50,000 015 - 50,000 2016 - 50,000 2017-2021 - 250,000 2022-2024 - 117,270 `-24 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE I I —LEASE OBLIGATIONS —(Continued) Governmental Business-type Activities activities Total minimum payments 1,460 617,270 Less Amounts representing interest Present value of net minimum lease payments $ 1_L453 $ 617,270 Leased property which has been capitalized as of September 30, 2011 is as follows, Governmental Business-type Activities Activities Equipment $ 53,086 $ 2,335,830 Less Accumulated Depreciation 22,119) 2,335,830 $ 30,967 $ The County leases office space and equipment under operating lease agreements. Total lease payments made in 2011 were $6,541,108. The following is a schedule by years of future minimum rentals under non-cancelable operating leases as of September 30, 2011: Fiscal year ending September 30: 2012 $ 5,723,642 2013 5,779,903 2014 5,186,425 2015 1,924,698 2016 897,369 Total $ 19,512,037 NOTE 12. LONG-TERM DEBT Long-term debt activity for the year ended September 30, 2011 is as follows: Current Portion Beginning Ending of Long-term Balances Additions payments Balances Liabilities Governmental Activities: - Governmenl l Funds Revenue bonds payable $38,085,682 $ - $ 4,176,091 $33,909,591 $ 4,326,091 Revenue notes payable 13,%9,565 5,005,734 7,609,437 11,365,862 1,035,703 Accrued romp.absences 8,Q44,180 2,967,991 2,822,484 8,189,687 425,459 OPEB Liability 15,063,874 9,113,442 2,513,603 21,663,713 - Capitalized lease obligations 19,740 - 18,287_ _ 1,453 1,453 Total Governmental Activities $75,183,041 $17,{?87,167 $17,139,902 $75,130,306 $ 5,788,706 F-25 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 112 -LONG-TERM DEBT-(Continued) Currant Portion Beginning Ending Of Long-term l Balances Additions P�ments._... Balances —Liabilifies Business-type Activities: Revenue bonds payable $11,540,000 $ $ 2,835,000 $8,705,000 $ 450,000 Revenue note payable 1,032,365 - 1,032,365 - - Arbitrage payable 234,816 135 228,898 6,053 - Landfill closure casts 412,$25 4,126 - 416,651 - Accrued oomp,absences 426,724 264,127 343,461 347,390 - OPEB Liability 841,406 562,558 156,161 1,248,803 - Capitalized tease obligations 667,270 - 50,000 617,270 50,000 Total Business-type Activities $15,155,106 $ 830,946 $4,644,885 $11,341,167 $ 500,000 Total Long-Term Debt $� 38,147 $17,918,113 _$21,784,787 $86,471,473 $6,28 ,706 Internal service fund long-term debt information is included in the governmental activities on the govemment-wide financial statements, because the internal service Bands predominately serve those activities, The current portion of the past closure maintenance liability is expected to be insignificant and will be funded by the County's operations budget instead of the related escrow funds required by federal and state laws. Accordingly, the entire post closure maintenance liability is classified as long-term, Governmental activities' compensated absences are liquidated by the funds to which the related employee services relate. The Croup Insurance Internal Service Fund assesses a monthly premium per employee in each fund. The monthly premiums paid by the various funds provide the resources necessary to liquidate the ether postemployment benefit obligations paid in the current year by the Group Insurance Internal Service Fund. The fallowing is a summary of the County's bands and notes as of September 30, 2011. GoverrlmentaLActivi ies Revenue Bonds: Infrastructure Sales Surtax Revenue Bands, Series 2003 $ 11,585,000 Infrastructure Sales Surtax Revenue Bonds, Series 2007 21,635,000 Unamortized Original Issue Premium, Series 2007 — 689,591 Total Revenue Bonds 33,909,591 Revenue Note: Clean Water State Revolving Fund Construction Loan Agreement 11,365,862 Total Government Activities 45,275,453 F-26 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 12 -LONG-TERM DEBT- (Continued) Debt Service Funds Available to Pay Current Maturities (2,077,864) Unamortized Original Issue Premium, Series 2007 (689,591) Governmental Activities Principal Funding Requirements $ 42,507,998 Business-type Activities Revenue Bonds; Key West International Airport Revenue Bonds, Series 2006 $ 8,705,000 Debt Service Funds Available to Pay Current Maturities and Early Retirements _ (450,000 Business-Type Activities Principal Funding Requirements $ 8,255,000 Debt Service Fundirrc� Requirements - The total annual debt service requirements for bonds and motes outstanding at September 30, 2011 are as follows: Governmental Activities Business- pe Activities Principal Interest Total -Principal Interest Total 2012 $ 4,779,263 $ 1,429,943 $ 6,209,206 $ 1,905,000 $ - $ 1,905,000 2013 5,487,653 1,349,597 6,837,250 450,000 - 450,000 2014 5,687,874 1,147,689 6,835,563 450,000 - 450,000 2015 5,893,920 936,761 6,830,681 450,000 285,984 735,984 2016 6,110,811 716,787 6,827,598 485,000 275,000 760,000 2017-2020 14,548,477 702,097 15,250,574 2,940,000 941,600 3,881,600 2021-2024 _ _.� _- - 1,575,000 141,625 _1,716,625 Total $42,507 998 $6 282,874 $48,790,872 $8,255,004 $ 1 644,209 $9,899,209 Long-Term Debt at September 30, 2011 is composed of the following issues: 21 455 000 lnfr react Sales Surtax RevenueBonds Seri 20 3 Type: General Government Revenge Bands Dated: March 2103 Final maturity: Year 2018 Principal payment date: April 1 Interest payment dates: April 1 and October 1 Interest rates: 3.4%to 4.0% Amount outstanding at September 30th: $11,585,000 Reserve requirement: Nome; 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 $13,222,105. For the fiscal year, principal and interest paid was $1,839,176 and total pledged revenue was $15,374,998. Purpose: To construct and acquire equipment and capital improvements. Call provisions: First redemption date may not be later than 4f20/13 and no call premium may exceed 2% of the par amount redeemed. -27 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 12-LONG-TERM DEBT-(Continued) $29,415,000 Infrastructure Sales Su ax Revenue Bonds, Series 2007 Type: General Government Revenue Bonds dated: November 2007 Final maturity: Year 2018 Principal payment date: April 1 Interest payment dates, April 1 and October 1 Interest rates: 4.0% to 5.0% Amount outstanding at September 30th: $21,635,000 Reserve requirement: None; MBIA insured. Revenue pledged: All of the One Cent Local Government Infrastructure Sales Surtax accruing to Monroe County. The total principal and interest remaining to be paid is $25,191,650. For the fiscal year, principal and interest paid was $3,671,500 and total pledged revenue was $15,374,998, Purpose: To construct and acquire equipment and capital improvements. Gall provisions, None 19 t}0 540 Clean Water e R Fun Construction Lawn A regiment Type: General Government Revenue Notes Elated, April2010 Final maturity: Year 2020 Principal payment date: March 15 and September 15 Interest payment dates: March 15 and September 15 Interest rate: 2.71% Amount outstanding at September 30th: $11,36 a,862 Reserve requirement: None Revenue pledged: Non-Ad Valorem Revenues, in the General Fund, the Fine and Forfeiture Fund, and the Unincorporated Area Service District Funds.The total principal and interest remaining to be paid is $12,579,068. For the fiscal year, principal and interest paid was $8,136,507 and total pledged revenue was $23,657,593. Purpose: Refund temporary financing for wastewater capital improvements. Call provisions: None 30 455 000 Key West International Airport Revenue Bonds Type: Enterprise Revenue Bond Dated. July 2006 Final maturity: Year 2024 Principal payment date: October 1 Interest payment dates: Monthly Interest rates: variable Amount outstanding at September 30th: $8,705,000 Reserve requirement: $2,759,567 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) Fledge 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 $10,349,209, For the fiscal year, principal of$2,835,000 was funded by pledged revenues of$4,232,711 and interest of $28,554 was funded by capitalized interest secured when the bonds were issued. F-28 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 12 - LONG-TERM DEBT-(Continued) Purpose: Acquire, construct and equip various 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. NOTE 13 - DEFEASANCE OF DEBT In prior years, the County defeased revenue bonds by placing the proceeds of new bonds with an escrow agent in irrevocable trust accounts to provide for all 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, 2011: Business-type Activities_ $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; defeased can April 1, 1991 using proceeds from the Municipal Service District Refunding Improvement Bonds, Series 1991 3,955,000 Total Business—type Activities $ 9,325,000 NOTE 14 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 Bands, Series 2003, not to exceed $2,500,000 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 corporation's 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 2003 Bonds is August 1, 2018. City of South Miami Health Facilities Authority Hos dal Revenue Bonds Series 2007 - On April 18, 2007, the Board approved an interlocal agreement with the City of South Miami Health Facilities Authority for the issuance of $800,000,000 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 F--2 9 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 MOTE 14-CONDUIT DEBT-(Continued) brands. Accordingly, the bonds are not reported as liabilities in the accompanying financial statements. Maturity of the Series 2007 Bonds is August 15, 2042, NOTE 15-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 solid 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. All amounts recognized are based upon what it would cost to perform closure and past 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 County'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 cast is accruable except for post closure costs estimated to be incurred in the coming year. At September 30, 2011, the estimated future coast for post closure maintenance was $416,651, The current portion of the post closure maintenance liability is expected to be insignificant and will be funded by the County's operations budget. Accordingly, the entire post closure maintenance liability is classified as long-term. For the public landfill, accounted for in the Municipal Service District-Waste enterprise fund, expenses associated with the final closure and post closure maintenance of landfill areas are recognized over the active life of those areas. These casts 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 casts. The cumulative effect of updated and revised estimates of closure-related coasts 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 mare annual contributions to a cash escrow account to meet financial assurance requirements. In accordance with laws and regulations, the landfill had cash and investments of $1,903,813 held for these purposes at September 30, 2011. 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 16 -INTERFUND BALANCES Interfund balances at September 30, 2011 are as follows: F-30 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 16 -1NTERFUND BALANCES -(Continued) Due to General Fund from: Fine & Forfeiture Fund $ 88,396 HIDTA Grants Fund 16,034 lonmajor Governmental Funds 1,220,435 Total 1,324,867 Due to Fine & Forfeiture Fund from: General Fund 1,496,721 Due to Governmental Grants Fund from: General Fund 72,499 Marathon Airport Fund 308,340 Nonmajor Governmental Funds 345,992 Total 726,831 Due to HIDTA Grants Fund from: Nonmajor Governmental Funds 1,230 Due to Comprehensive Plan Land Authority from: General Fund 347 909 Due to One Cent Infrastructure Surtax Fund from: Governmental Grants Fund 21,282 Nonmajor Governmental Funds 44,620 65,902 Due to Nonmajor Governmental Funds from: General Fund 1,005,823 Governmental Grants 431,353 Internal Service Fund 1,847 Card Sound Bridge Fund 1,200 Ivey West Airport 164,149 Nonmajor Governmental Funds 364,907 1,969,279 Due to Internal Service from: General Fund 114,166 HIDTA Grants Fund 51 .795 165,961 Due to Municipal Svc District Fund from: General Fund 4,036 Due to Key West Airport Fund from: onmajor Governmental Funds 84,904 i Total Interfund Balances $6,187,640 During the course of operations, transactions occur which result in amounts owed to a particular fund y another fund, other than for goods provided or services rendered. These receivables and payables F-31 4 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 16 - INTERFUND BALANCES -(Continued) 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 17 - INTERFUND TRANSFERS Interfund transfers at September 30, 2011 are as follows: Transfers to General Fund from: Fine & Forfeiture Fund $3 , 39,897 One Cent Infrastructure Surtax Fund 186,009 Municipal Svc District Waste Fund 187,303 Card Sound Road Fund 121,362 Internal Service Funds 632,937 Nonmajor Governmental Funds 10,373,619 Total 47,041,127 Transfers to Fine& Forfeiture Fund from: General Fund 1,488,529 Transfers to Governmental Grants Funds from: General Fund 72,499 Fine and Forfeiture Fund 16,667 Nonmajor Governmental Funds 345,992 Total 435,158 Transfer to Comprehensive Plan Land Authority from: General Fund 18,473 Transfers to One Cent Infrastructure Surtax Fund from: Governmental Grants Fund 21,282 Transfers to Debt Service Fund from: One Gent Infrastructure Surtax Fund 8,574,523 Nonmajor Governmental Funds 5,005,734 Total 13,580,257 Transfers to Nonmajor Governmental Funds from: General Fund 1,222,830 Governmental Grants Fund 381,241 One Cent Infrastructure Surtax Fund 5,000,000 Nonmajor Governmental Funds 563.063 Total 7,167,134 Transfers to Municipal Svc District Fund from: General Fund 4,036 Transfers to Marathon Airport Fund from: Key West.Airport Fund 6,964 Total Interfund Transfers $69,762,960 F-32 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 17 -INTERFUND TRANSFERS -(Continued) The major fund, One Gent Infrastructure Surtax, interfund transfers out totaling $13,760,532 are related to the funding of debt service as well as partial funding for the Duch Key Wastewater Project which is accounted for in Norirnajor Governmental funds, The $8,214,515 transferred from Nonmajor Governmental funds, specifically the Big Coppitt Wastewater fund, is for the refunding of the Florida Rural Utility Financing Commission Revenue Notes, Series 2008A. Other transfers in and out are related to supporting operations and grant match requirements. NOTE 18—GOVERNMENTAL FUND BALANCE CLASSIFICATIONS Fund Balances are presented in the following categories: nonspendable, restricted, committed, assigned and unassigned (See Note 1 for a description of these categories). A detailed schedule of governmental Band balances at September 30, 2011 is as follows: Fine& Governmental HIDTA General Forfeiture Grants Granite Fund Balances: Nonspen dable: Inventory $ 2,872 $ - $ $ - Mortgage Loans - - - _- Total Nonspendable 2,872 _ - - Restricted for: Law Enforcement - 20,235,322 - - Fire&Ambulance - - - - Public Safety - - - - Physical Environment - - - - Transportation - - - Housing Programs - - - Tourist Development - - - - Human Services - - - - Librades - - - - Library Donations 100,732 - _ - Cultural&Recreation - - - Court Programs - - - - Comprehensive Planning Land Authority - - - - Federal&State Grants - - 1,883,645 - Wastewater Projects - - Other Purposes Debt Service - - - - Capital Projects Total Restricted 100 732 20 235,322 i,883,645 - Committed to: Physical Environment - - - - Fire&Ambulance - - - Wastewater Projects Beam Renorishment - - - - Sheriffs Contract Administrative - - - Total Committed - - - I i I "--33 t F ........... MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 18--GOVERNMENTAL FUND BALANCE CLASSIFICATIONS - (Continued) Fine&, Governmental HIDTA General Forfeiture Grants Grants Assigned to; Other Purposes 37,133 - - Fire&Ambulance Land Authority - - - - Subsequent Year's Expenditures 9,§36 2L2 - - - Total Assigned 9,673,395 - - - Unassigned: 27,557,693 Total Fund Balances $37 33d 692 apt $27 235, 22 $1,88p3,fi45 Comprehen- sive Flan One Cent revenue Land Infrastruc- Bonds All Debt Authority ture Surtax Series 2007 Service Fund Balances: Nonspendable: Inventory $ - $ - $ - $ - Mortgage Loans - 8 376,579 - - - Total Nonspendable 8,376,579 Restricted for; Law Enforcement - _ - Fire&Ambulance - - - Public Safety - - - - Physical Environment - - - - Transportation - - - - Housing Programs - Tourist Development - - Human Services - - - - Libraries - Library Donations - - - - Cultural&Recreation - - - - Court Programs - - - - Comprehensive Planning - - - Land Authority 5,284,771 Federal&State Grants Wastewater Projects - - - - Other Purposes - - - - Debt Service - - - 2,195,200 Capital Projects P 1 - 22,311,153 51,33,238 -Total Restricted 5,284,771 22 311,153 _ 11 358. 2,195,200 Committed to.- Physical Environment - - - Fire&Ambulance - - - Wastewater Projects - - - - Beach Renourishment - - - - Sheriffs Contract Administrative - - -- Total Committed - - - - F-34 i 11ONROE COUNTY, FLORIDA Dotes To Financial Statements For the Year Enders September 30, 2011 NOTE 18—GOVERNMENTAL FUND BALANCE CLASSIFICATIONS -(Continued) Comprehen- sive Plan One Cent Revenue Land Infrastruc- Bonds All Debt Authority ture Surtax Series 2007 Service Assigned to: Other Purposes _ - - Fire&Ambulance _ _ Land Authority 7,335,471 Subsequent Year's Expenditures - Total Assigned 7335,471 - - Unassigned: _ - _ _ Total Fund Balances $20 996,821 $22,311 153 $11 353 238 $2 195 200 Nonrnajor Governmental Total Govern- Funds mental Fonds Fund dances: Nonspendabte: Inventory $ - 2,872 Mortgage Loans --------- - 8,376.579 Total Nonspendeble - 8,379,451 Restricted for: Law Enforcement 11,214,525 31,449,847 Fire&Ambulance 1,022,874 1,02Z874 Pudic Safety 2,300,910 2,300,910 Physical Environment 2,505,286 2,605,286 Transportation 14,866,664 14,866.6CA Housing Programs 1,874,618 1,874,618 Tourist Development 17,089,443 17,089,443 Human Services 1,485,970 1,485,970 Libraries 822,915 822,915 Library Donations 375,179 475,911 Cultural 8 Recreation 1,787,286 1,787,286 Court Programs 3,943,442 3,943.442 Comprehensive Planning 3,052,850 3,052,650 Land Authority - 5,284,771 Federal 8 State Grants 29,708 1,913,353 Wastewater Projects 4,411,589 4,411,589 Other Purposes 3,020,309 3,020,309 Debt Service - 2,195,200 Capital Projects 855,233 34,519,624 Total Restricted 70,658,801 134,022,862 Committed to: Physicei Environment 1,325,656 1,325,656 Fire&Ambulance 2,855,930 2,855,930 Wastewater Projects 448,461 448,461 Beach Renourishment 375,452 375,452 Sheriffs Contract Administrative 528,937 528,937 Total Committed 5,534,436 5,534,436 F-3 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 18 -GOVERNMENTAL FUND BALANCE CLASSIFICATIONS - (Continued) Nonmajor Governmental Total Govern- Funds mental Funds Assigned to: Other Purposes - 37,133 Fire&Ambulance 1,056,674 1,056,674 Land Authority - 7,335,471 Subsequent Year's Expenditures - 9,636,262 Total Assigned 1,056,674 18,065,540 Unassigned: - 27,557,693 Total Fund Balances $77,249,911 $193,559,982 NOTE 19 - RISK MANAGEMENT The County is exposed to various risks of loss related to tort; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. During the fiscal years ended 1976, 1984 and 1988, the County established the Worker'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 has self insured coverage up to the first $500,000 per claim for regular employees. Workers' Compensation claims in excess of the self insured coverage of $500,000 are covered by an excess insurance policy. The Group Insurance Fund provides self insured excess claims. Risk Management has a $5,000,000 excess insurance policy for general liability claims with a $200,000 self-insured retention, and building property damage is covered for the actual value of the building with a deductible of $50,000. Deductibles for windstorm and flood vary by location. The County purchases commercial insurance for claims in excess of coverage provided by the funds and for all other risks of loss. Settled claims have not exceeded this commercial coverage in any of the past three years. All funds of the County 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, 2011 are based on the requirements of Governmental Accounting Standards Board Statement No. 10, which requires that a liability for claims be reported if information prior to the issuance of the financial statements indicates that it is probable that a liability has been incurred at the date of the financial statements and the amount of the loss can be reasonably estimated. Changes in the claims liability amounts in fiscal year 2011 and 2010 were: Worker's Group Risk Comp. Insurance Mgmt Total Unpaid claims at Sept. 30, 2009 $ 1,534,647 $ 4,580,172 $ 141,385 $ 6,256,204 Incurred claims (including IBNRs) 1,745,741 14,156,786 764,209 16,666,736 Claim payments (1,598,593) (14,489,922) (740,159} 16,828,674) Unpaid claims at Sept. 30, 2010 1,681,795 4,247,036 165,435 6,094,266 F-36 MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 19 - RISK MANAGEMENT-(Continued) Incurred claims (including IBNRs) 1,726,228 15,271,807 276,717 17,274,752 Claim payments 1 6.... ..._ 5,416� (14,937,301) 9,559 16,982,276) Unpaid claims at Sept. 30, 2011 $ 1,712,607 $ 4,581,542 $ 112,593 $6,406,742 NOTE 24 -LITIGATION The County is a defendant in various lawsuits and is involved in other disputes wherein substantial amounts are claimed. In the opinion of the County, these suits and claims should not result in judgments or settlements, which, in aggregate, would have a material adverse effect on the County's financial condition. NOTE 21 -COMMITMENTS AND CONTINGENCIES Qrant Programs - 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, 2011, the County has estimated its arbitrage rebate liability to be $6,053 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,O00 Key 'West International Revenue Bands, 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 a bank to issue its irrevocable direct pay letter of credit naming U.S. Bank National Association, the bonds' paying agent, as beneficiary. The letter of credit is for an amount sufficient to pay interest at a maximum interest rate of 12% per annum. The agreement expires on October 15, 2014. NOTE 22-SUBSEQUENT EVENTS Pursuant to the provisions of Monroe County Resolution 238-C, the County redeemed $1,335,O00 of the Airport Variable Rate Revenue Bonds, Series 2006 maturing in 2025-2024 as described in the table below. Funding Source Date Amount Passenger Facility Fees November, 2011 $ 137,000 Monroe County November, 2011 3,000 FAA December, 2011 1,133,974 Passenger Facility Fees December, 2011 57,441 Monroe County December, 2011 3,585 Total $ 1,335,000 F-3 g i MONROE COUNTY, FLORIDA Notes To Financial Statements For the Year Ended September 30, 2011 NOTE 22 -SUBSEQUENT EVENTS -(Continued) Effective December 12, 2011, the County early retired $1,494,898 of the balance due on the Clean Water State Revolving Fund Construction Loan Agreement note. The early retirement was funded by Once Cent Infrastructure Sales Surtax revenues. Pursuant to the provisions of Monroe County Resolution 238-C, the County has scheduled the redemption of $460,000 of the Airport Variable Rate Revenue Bonds, Series 2006 maturing in 2024 as described in the table below. Funding Source Date Amount Passenger Facility Fees March, 2012 $ 158,597 Monroe County March, 2012 1,403 Passenger Facility Fees May, 2012 295,000 Monroe County May, 2012 5,000 Total $ 460,000 In late March, legislation was passed requiring Florida counties to pay State Medicaid billings without the option of disputing the billing. The disputed backlog must be paid over five years. It is estimated that the County's annual obligation for its backlog will amount to approximately $700,000 per year for five years. F-38 ................ ................. COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES S i 5 f NONMAJOR GOVERNMENTAL FUNDS P LR S ECIA EVI" UEFUNDS AFFORDABLE HOUSING PROGRAMS To account for revenues and expenditures of various low income housing programs. i 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 QISTRICT 91 LOWER AND MIDDLE KEYS To account for revenues and expenditures in District#1 for fire and ambulance services. 1 UPPER KEYS HEALTH CARE SPECIAL TAXING DISTRICT a To account for all transportation and hospitalization costs of Monroe County trauma patients in Dade County. UNINaccount'ORPQRATE for a revenuesll DA REA SERVICE DISTRICTS and expenditures for planning, building and zoning and parks and recreation services provided only to the unincorporated area of the County. LOCAL, HOUSING ASSISTANCE 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 lime in Monroe County for the enhancement of the 911 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 beating-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. (Continued) 9� 1 NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS—CONTINUED MISCELLANEOUS SPECIAL REVENUE To account for revenues and expenditures earmarked for specific purposes. ENVIRONMENTAL RESTORATION To account for all revenue and expenditures for fines/fees collected and earmarked for environmental protection. COURT FACILITY FEES To account for revenues collected upon the institution of any civil action, suit or proceeding to be used exclusively in providing and maintaining existing and future facilities for the use of the Circuit and County Court systems. DRUG ABUSE TRUST To account for assessments collected for drug abuse programs and to disburse assistance grants for drug abuse treatment and/or educational programs which meet the standards for qualification of such programs by the Department of Health and Rehabilitative Services. MARATHON MUNICIPAL SERVICE To account for the revenues and expenditures for municipal services for Marathon, WASTEWATER MSTU To account for the revenues and expenditures for wastewater services for Say Point, Big Coppitt, Key Largo, Stock Island, Cudjoe-Sugarloaf, Conch Key, Long Key-Layton and Duck Key. BUILDING FUND To account for the revenues and expenditures relating to building permits and for the administration and enforcement of the building code for the unincorporated area of the County. SHERIFF'S TEEN COURT To account for receipts and disbursements pertaining to a program designed to deter juveniles who are becoming involved in crime SHERIFF'S FEDERAL FORFEITURE To account for the revenues from the U.S. Departments of Justice and Treasury. Expenditures are made in accordance with the guidelines issued by these agencies. SHERIFF'S STATE FORFEITURE To account for the proceeds from state forfeitures received primarily from the South Florida Drug and Money Laundering Task Force. SHERIFF'S CONTRACT ADMINISTRATIVE To account for the receipts of service fees collected for administering HIDTA, South Florida Law Enforcement Trust Fund, Impact Support and the NHAC Financial Emit_ Expenditures relate to the costs of administering their activities_ ' (Continued) i i NI NMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS—CONTINUED -SHERIFF'S COMMISSARY To account for the receipts and disbursements of inmate telephone commissions, canteen revenues and other inmate programs. SHERIFFS INTER-AGENCY COMMUNICATIONS To account for revenues and expenditures allocated for radio communications. SHERIFF'S TRAUMA STAR To account for revenues and expenditures related to the Sheriffs operation of the air ambulance transports. SHERIFF'S RADIO COMMUNICATIONS To account for revenues and expenditures related to radio communication functions county-wide to include the majority of federal, state, and local entities. SHERIFF'S GRANTS To account for the revenues and expenditures relating to various grants. SHERIFF'S SHARED ASSET FORFEITURE To account for the accumulation of stipulated transfers from the Federal Forfeiture Fund. Its investment income is used to fund awards to non-profit organizations, as determined by an advisory board. SHERIFF'S SOUTH FLORIDA LAW ENFORCEMENT TRUST To account for the receipts and disbursements pertaining to South Florida Drug & Money Laundering Task Force. SHERIFF'S E911 To account for fees levied on each telephone access line in Monroe County for the enhancement of the 911 emergency telephone systems. CLERK'S RECORDS MODERNIZATION To account for revenue received through an additional recording fee pursuant to Florida Statute 28.24(15)(d)to be used for equipment, equipment maintenance, training and technical assistance necessary to modernize the clerk's public records system. CLERK'S COURT RELATED To account for revenues and expenditures for providing court related services under the direction of the Clerk of the Circuit Court, SUPERVISOR'S VOTER EDUCATION & EQUIPMENT To account for revenue received through grants for the education of voters and the purchase of voter equipment- CAPITAL PROJECT FUNDS CLERK'S REVENUE NOTE To account for the Clerk's network system from the Florida Local Government Finance Commission Loan. INFRASTRUCTURE REVENUE BONDS SERIES 2003 To account for the revenues and expenditures funded by the Infrastructure Revenue Bonds Series 2003 debt issuance. BIG COPPITT WASTEWATER To account for the revenues and expenditures of the wastewater infrastructure for Big Coppitt Key. DUCK KEY WASTEWATER To account for the revenues and expenditures of the wastewater infrastructure for Duck Key. 5 I } MONROE COUNTY, FLORIDA COMBINING BALANCE SKEET NQNMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2011 SPECIAL Tourist Tourist Affordable Development Development Housing Road & All Districts Admin & Promo Programs Bridge Two Cent Two Cent ASSETS Cash and Cash Equivalents $ 47,526 $ 1,073,926 $ 806,491 $ 1,67%666 Investments 329, 88 7,681,685 2,667,727 4,662,592 Accounts Receivable, Net - - 185 - Due from Other Funds - 4,168 72,048 149,299 Due from Other Governmental Units - 453,675 - - Mortgages/Notes receivable - - - - Allow. forMortgages/Notes Receivable - - - - Interest Receivable 1,438 31,598 11,093 - 18�286 Total Assets $ 378,352 $ 9,245,052 $ 3,557, 4 $ 6,509 843� LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ - $ 15,415 $ 264,645 $ 557,194 Ietainage Payable - - - - Accrued Wages and Benefits Payable - 67,451 1,525 488 Due to Other Funds - 319,801 10,964 5,615 Due to Other Governmental Units - 12,951 - - Other Current Liabilities - - 164 - Deposits in Escrow - 750 - - Deferred Revenues - - - - Total Liabilities - 416,368 277,298 563,29 Fund Balances: Nonsendable - - - - Restrlcted 378,352 8,828,684 3,280,246 5,946,546 Committed - - - - Assigned - - - - Total Fund Balances 378,352 8,_828,684 3,280,246 5,946,546 Total Liabilities and Fund Balances 378,3U $ 9.245,052 $ 3,557,544 $ 6,509,843 G-1 i i REVENUE FUNDS Tourist Tourist Tourist Tourist Tourist Development Development Development Development Development Impact Fees, District#tine District#Two District#Three District#Four District Wive Roadways $ 1,278,474 $ 79,370 $ 339,633 208,404 $ 221,959 758,765 4,586,985 151,476 964,094 419,068 482,515 5,256,081 107,431 8,884 30,992 21, 72 21,057 - 18,308 615 4,119 2,056 2,076 23,449 $ 5,991,198 $ 240,345 $ 1,338,838 . $ 650,900 $ 727,607 $ 6,038295 $ 330,674 $ 6,877 $ 227,635 $ 97,478 $ 18,475 $ - 4,893 2,303 122 122 2,868 315 774 88 205 15,948 2, 89 - - 34 - - - - 336,341 9,302 227,962 113,548 23,632 315 5,279,405 231,043 1,110,876 537,352 703,975 6,037,980 375,42 - - - - - 5,654,857 231,043 1,110,876 537,352 703,975 6,037,980 $ 5,991,198 $ 240,345 $ 1,338,838 $ 650,900 $ 727,607 $ 6,038,295 (Continued) G-2 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET-CONTINUED NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2011 SPECIAL Impact Fees, Parks and Impact Fees, Impact Fees, Impact Fees, Recreation Libraries Solid Waste Police Facilities ASSETS Cash and Cash Equivalents $ 59,445 $ 103,189 $ 5,283 $ 11,535 Investments 414,787 715,759 36,623 79,985 Accounts Receivable, Net - - - - Due from Other Funds - - - Due from tither Governmental Units - 870 - - Mortgages/Notes Receivable Allow. for Mortgages/Notes Receivable - _ _ _ Interest Receivable 2,136 3,097 140 348 Total Assets $ 476,368 $ 822,915 $ 42,046 $ 91,868 (ABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ 6,600 $ - $ - $ - Retainage Payable - - - - Accrued Wages and Benefits Payable - - - - Due to Other Funds _ t Due to Other Governmental Units - - - - Other Current Liabilities - - - - Deposits in Escrow - - - - Deferred Revenues - Total Liabilities 6,600 - - - Fund Balances: Nonspendable - - - - Restricted 469,768 822,915 42,046 91,868 Committed - - - - Assigned - - - - Total Fund Balances 469,768 822.,915 42,046 91,868 Total Liabilities and Fund Balances $ 476,368 $ 822,915 $ 42,046 $ 91,868 F 3-G i L7 f KEVENUE FUNDS Fire &Amb Upper Keys Unincorp. Unincorp_ Impact Fees, District#1, Health Care Area Service Area Service Impact Fees, Employee Fair Lower and Special District, Dist-Planning t Fire& EMS Share Housing Diddle Keys Taxing District Parrs & Rec. Bldg. &Zoning $ 18,362 50,283 402,246 $ 170,350 170,393 $ 662,776 127,893 348,463 3,779,628 1,184,956 1,256,016 4,761,266 191,9776 - - 153,670 - - 35,605 - - 5,279 - 356 401,787 824 1,494 17,229 5,406 5,782 21,599 $ 147,079 $ 400,240 $ 4,5 0,028 $ 1,3602712 $ 1,432,547 $ 5,883,033 $ 75,800 $ - $ 174,872 $ 611 $ 77,128 $ 409,555 - - 343,401 3,013 22,214 189,855 - _ 64 - 2,084 25,012 1,030 - 10,352 521 897 - - 1 - - 3,251 - - - 117,160 - - 75,800 - 637,424 3,624 115,029 624,944 71,279 400,240 - 1,3 7,088 1,317,518 5,258,089 - - 2,855,930 - - - - 1,056,674 - . 71,279 400,240 3,912,604 113571088 1,317,518 5,258,089 $ 147,079 $ 400,240 $ 4,550,028 $ 1,360,712 $ 1,432,547 $ 5,883,033 (Continued) C-4 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET-CONTINUED NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2011 SPECIAL Local 911 Duck Key Housing Municipal Enhancement Security Assistance Policing Fees District ASSETS Cash and Cash Equivalents 138,457 $ 164,966 $ - $ 46,976 Investments 966,659 1,512,934 - 325,999 Accounts receivable, Net - - _ - Due from Other Funds - 106,327 - 504 Due from Other Governmental Units - 20,437 - 4 Mortgages/Notes Receivable 9,037,322 - - - Allow. for Mortgages/Notes Receivable (9,037,322) - - - Interest Receivable 3,786 6,957 - 1,405 Total Assets $ 1,108,902 $ 1,811,621 $ - $ 374,888 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ 12,876 $ - $ - 3,96 Retainage Payable - - - - Accrued Wages and Benefits Payable - - - - Due to Other Funds - 20 - - Due to Other Governmental Units - - - - Other Current Liabilities - - - - Deposits in Escrow - - - - Deferred Revenues - - - - Total Liabilities 12,876 20 - 3,968 Fund Balances: Nonspendable - - - - Restricted 1,096,026 1,811,601 - 370,920 Committed - - - - Assigned - - - - Total Fund Balances 1,096,026 1,811,601 - 370,920 Total Liabilities and Fund Balances $ 1,108,902 $ 1,811,621 $ - $ 374,888 G-5 REVENUE FUNDS Miscellaneous Court Drug Boating Special Environmental Facility Abuse Improvement Revenue Restoration Fees Trust $ 316,525 $ 299,675 $ 165,743 $ 353,360 $ 18,46 1,912,127 1,901,111 1,160,168 2,089,825 109,899 - 100 - - - 8,085 8,000 5,079 8,395 514 $ 2,236,737 $ 2,208 886 $ 1,330,990 $ 21451,580 $ 128,882 $ 23,437 $ 25,323 $ 1,006 $ - $ - - - 3,039 2,851 - - 32,885 1,191 - - 37,442 17 98 - - - 30,271 - -60,879 88,496- 5,334 2,851 - 2,175,858 2,120,390 - 2,448,729 128,882 - - 1,325,656 - - 2,175,858 2,120,390 1,325,656 2 448 729 128,882 $ 2,236,737 $ 2,208,886 $ 1,330,990 $ 2,451,580 $ 128,882 (Continued) G-6 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET-CONTINUED NONMAJOR GOVERNMENTAL FINDS SEPTEMBER 3 , 2011 SPECIAL Marathon Bay Point Big Coppitt Key Largo Municipal Wastewater Wastewater Wastewater Service MSTU MSTU MSTU i i ASSETS Cash and Cash Equivalents $ 92 $ 13,195 $ 12,589 $ 1,825 Investments 526 91,551 28,731 12,539 Accounts Receivable, Net - - _ - Due from Other Funds 2 - - 16 Due from Other Governmental Units 2 Mortgages/Notes Receivable Allow, for Mortgages/Notes Receivable - - - Interest Receivable 18 418 201 91 Total Assets $ 638 $ 105,164 $ 41,521 $ 14,473 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ - $ - $ 8,577 , - Retainage Payable - - - - t Accrued Wages and Benefits Payable - 76 2,477 470 1 Due to Other Funds - - - Due to Other Governmental Units - - - - Other Current Liabilities - - - - Deposits in Escrow Deferred Revenues - - - - Total Liabilities - 76 11,054 470 Fund Balances: Nonspendable - - - Restricted 638 - - - Committed - 105,086 30 467 14,003 Assigned - - - - Total Fund Balances 638 1 Q5,088 30,467 14,003 Total Liabilities and Fund Balances $ 638 $ 106,164 $ 49, 21 $ 14,473 G-7 REVENUE FUNDS Cudjoe- Lang Key, Stock Island Sugarloaf Conch Key Layton Chuck Key Building Wastewater MSTU MSTU MSTU MSTU Fund 67,523 $ 19,517 $ 394 $ 3,127 $ 14,611 $ 148,502 468,648 136,335 2,597 21,763 103,238 924,400 507 18 - - 1,451 - 2 - 2 - 9 - 2,017 663 91 381 4,665 $ 538,697 $ 156,533 $ 2,993 $ 24,981 $ 119,690 1,077,567 $ 1,175 $ 47 $ - $ - $ 1,997 10,636 93 960 - 44 2,246 9 ,67 6,592 - _ - _ 8,110 1,268 1,007 - 44 4,243 121,008 537,429 - - - - 956,559 - 155,526 2,993 24,937 115,447 - 537,429 155,526 2,993 24,937 115,447 956 559 , , $ 538,697 $ 156,533 $ 2,993 $ 24,981 $ 119,690 $ 1 A77,567 (Continued) G-8 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET- CONTINUED NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2011 SPECIAL Sheriffs Sheriffs Sheriffs Sheriff's Federal State Contract Teen Court Forfeiture Forfeiture Administrative ASSETS Cash and Cash Equivalents $ - $ 1,660,649 $ 131,543 $ - Investments - - 522,140 - Accounts Receivable, Net - - - 602 Due from Other Funds 9,208 - 56,022 629,030 Due from Other Governmental Units 5,853 - - 164,850 Mortgages/Notes Receivable - - - - Allow. for Mortgages/Notes Receivable - - - - Interest Receivable - - 2,291 - Total Assets $ 15,061 $ 1,660,649 $ 711,996 $ 794,482 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ - $ 24,817 $ 895 $ - Retainage Payable - - - - Accrued Wages and Benefits Payable - - - - Due to Other Funds - - 56,123 218,319 Due to Other Governmental Units - - - 2,896 Other Current Liabilities - - - - Deposits in Escrow - - - - Deferred Revenues - - 44,330 Total Liabilities - 24,817 57,018 265,545 Fund Balances: Nonspendable - - - - Restricted 15,061 1,635,832 654,978 - Committed - - - 528,937 Assigned - - - - Total Fund Balances 15,061 1,635,832 654,978 528,937 Total Liabilities and Fund Balances $ 15,061 $ 1,660,649 $ 711,996 $ 794,482 G-9 ............................. ................ i k E I REVENUE FUNDS Sheriff's Sheriffs Sheriffs Sheriffs Sheriff's Interagency Trauma Radio Sheriff's Shared Asset Commissary Communications Star Comm. Grants Forfeiture $ 386,961 $ 1,151,704 $ 7,242 $ 77,250 $ - $ 5,153,539 36,052 26,191 6,057 27,403 - - 438,682 _ - _ _ 111,255 - $ 429,070 $ 1,205,298 $ 7,242 $ 77, ..,,250 $ 549,937 $ 5,153,539 $ 4,382 $ - $ - $ - $ - $ 63,992 14,227 21,769 7,242 77,250 537,927 - 10,479 - - _ - _ 45 29,133 21,769 7,242 77,250 537,927 637992 399,937 1,183,529 - - 12,010 5,089,547 399,937 1183,529 - - 12,010 5,089,547 $ 429,070 $ 1,205,298 $ 7 242 $ 77,250 $ 549,937 $ 5,153,539 F (Continued) G-10 ....�........-. ............................. MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET-CONTINUED NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2011 SPECIAL REVENUE Clerk's Clerk's Supervisor's Sherifrs Records Court Voter Ed & = E911 Modernization Related Equipment ASSETS Cash and Cash Equivalents $ 1,853,063 $ 1,196,880 $ 775,988 $ 17,698 Investments 51,511 - - Accounts Receivable, Net 15 - Due from Other Funds 88,339 - 683 - Due from Other Governmental Units 43,424 - 7,362 - MortgagesiNotes Receivable - - - - Allow. for Mortgages/Notes Receivable - - - - Interest Receivable 190 - - - Total Assets $ 2,036,527 $ 11196,886 $ 784,048 $ 17,698 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ - $ 19,065 $ 167,504 $ - Retainage Payable - - - - Accrued Wages and Benefits Parable _ _ - Due to Other Funds 105,828 - 561,843 - Due to Other Governmental Units - - 2,750 - Other Current Liabilities - - - - Deposits in Escrow - - - - Deferred Revenues - - 51,951 - Total Liabilities 105,828 19,065 784,048 - Fund Balances:Nonspendable _ _ _ _ Restricted 1,930,699 1,177,815 - 17,698 Committed Assigned Total Fund Balances 1,930,_699 1.,177,815 - 17,698 $ - Total Liabilities and Fund Balances 2,036,527 1,196,880 784,048 17,,,�„ G-1 I i FUNDS CAPITAL PROJECT FUNDS Total Total Nonmajor Clerk's Infrastructure Big Coppitt Duck Key Nonmajor Special Revenue Revenue Revenue Bonds Wastewater Wastewater Governmental Funds Note Series 2003 Project Project Funds $ 22,346,139 $ 12,731 $ 1,102,421 $ 362,749 222,114 $ 24,046,154 52,249,688 88,124 - 2,573,431 1,552,374 56,463,617 255,121 - - - - 255,121 1,968,775 - - 421 83 1,969,279 1,215,167 - - 29 6 1,215,202 9,037,322 - - - - 9,037,322 (9,037,322) w - - - (9,037,322) 224,340 371 33,408 11,706 5,064 274,889 $ 78,259,230 $ 101,226 $ 14135,829 $ 2,9448,336 $ 1,779,641 $ 84,224,262 $ 2,632,656 $ - $ 1,051 $ - $ 809,197 $ 3,442,904 - - 379,221 - - 379,221 740,496 - 1,550 - - 748,046 2,017,468 - - 44,620 - 2,062,088 85,162 - _ - - 85,162 1,062 - - - - 1,062 4,001 - - _ - 4,001 251,867 - - - - 251,867 5,7 8,712 W 381,822 44,620 809,197 6,974,351 65,929,408 101,226 754,007 2,903,716 970,444 70,658,801 5,534,436 - - - - 5,534,436 1,056,674 ----1,056,674 72 520,518 101,226 754,007 2,903,716 970,444 77€249,911 $ 78,259,230 $ 101�226 $ 1,135,829 $ 2,948,336 $ 1,779,641 $ 84,224,262 A , G-12 1 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2011 SPECIAL Tourist Tourist Affordable Development Development Housing Road & All Districts Admin & Promo Programs Bridge Two Gent Two Cent Revenues: Taxes $ _ 2,080,227 $ 3,647,152 $ 7,557,617 Licenses and Permits - _ - Intergovernmental - 3,355,160 - Charges for Services - 86,35 - - Fines and Forfeitures - - - - Investment Income 2,601 56,439 21,032 34,945 Miscellaneous 4,560 34,868 225,761 467,931 Total Revenues 7,161 5,613,044 3,893,945 8,060,493 Expenditures: Current: General Government - - - - Public Safety - - - - Physical Environment - - - Transportation - 3,404,460 - - Economic Environment - 3,288,125 6,039,173 Human Services - - - - Culture and Recreation - - - Court Related - - - - Capital Projects - - - - Total Expenditures - 3,404,460 3,288,125 6,039,173 Excess/Deficiency of Revenues Over/(Under) Expenditures 7,161 2,208,564 605,820 2,021,320 Other Financing Sources/(Uses): Transfers from Other Funds - 475,574 72,048 149,298 Transfers to Other Funds - (857,200) (74,629) (88,508) Debt Issuance - - - - Total Other Financing Sources/(Uses) - (381,626) _ _ _ (2,581) 60,790 Net Change in Fund Balances 7,161 1,826,958 603,239 2,082,110 Fund Balances-October 1 371,191 7,001,726 2,677,007 3,8 4,436 Transfers (to)/ rom Fund Balances - - - - Fund Balances-September 30 $ 378,352 8,828,684 $ 3,280,246 $ 5,946,546 i G-1 REVENUE FUNDS Tourist Tourist Tourist Tourist Tourist Development Development Development Development Development Impact Fees, District#One District#Two district#Three District#i=tour District#Fiore Roadways $ 6,502,512 $ 556,658 $ 1,604,976 $ 1,188,322 $ 1,352,302 $ - - - - - - 68,031 32,410 1,396 7,702 4,366 3,916 42,469 208,443 21,653 53,234 46,980 52,354 - 6, 43,365 579, 07 1,665,912 1,239,668 1,408,572 110,500 - - - - w 4,066 5,269,212 511,537 1,694,290 1,460,654 1,298,501 - 5,269,212 511,537 1,694,290 1,460,654 1,298,501 4,066 1,474,153 68,170 (28,378)� (220,986) 110,071 106,434 91,673 8,885 26,845 21,372 21,057 - (52,167) (21,626) (12,242) (13,958) (31,899) (475,574) 39,506 12,741 14,603 7,414 (10,842 _ 475,574) 1,513,659 55,429 (13,775) (213,572) 99,229 (369,140) 4,141,198 175,614 1,124,651 750,924 64,746 6,407,120 $ 5,654,857 $ 231,043 $ 1,110,876 $ 537,352 $ 703,975 $ 6,037,980 (Continued) G-14 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES-CONTINUED NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2011 SPECIAL Impact Fees, Parks and Impact Fees, Impact Fees, Impact Fees, Recreation Libraries Solid Waste Police Facilities Revenues: Taxes $ - $ - $ - $ - Licenses and Permits 34,680 29,416 5,128 11,965 Intergovernmental - - - - Carges for Services Fines and Forfeitures - - - - Investment Income 3,212 5, 87 269 583 Miscellaneous - - - - Total Revenues 37,892 35,003 5,397 12548 Expenditures: Current. General Government - - - - Public Safety - - - - Physical Environment - - - - Transportation - - - - Economic Environment - - - - Human Services - - - Culture and Recreation 6,600 - - Court Related - - - Capital Projects - - - Total Expenditures 6,600 - _ - Excess/Deficiency of Revenues Over/(Under) Expenditures 31,292 35,003 5,397 12,548 Other Financing Sources/(Uses): Transfers from Other Funds - - - - I Transfers to Other Funds - Debt Issuance Total Other Financing Sources/(Uses) _ -Net Change in Fund Balances 31,292 35,003 5,397 12,548 Fund Balances-October 1 438,476 787,912 36, 49 79,320 Transfers {tajtfrom Fund Balances - - - - Fund Balances-September 30 $ 469,768 $ 822,915 $ 42,046 $ 91,868 a i e G-15 REVENUE FUNDS Fire & Amb Upper Keys Unincorp. Unincorp. Impact Fees, District#1, Health Care Area Service Area Service Impact Fees, Employee Fair Lower and Special District, Dist-Planning Fire & EMS Share Housing Middle Keys Taxing District Parks & Rec, Bldg, &Zoning $ - - $ 9,591,297 $ - $ 1,516,230 $ 1,375,208 8,322 6,128 - - - - - - 58,746 - 1,576 4,642,744 - - 622,822 - 37,649 638,375 - - - - - 439,306 1,542 2,741 50,283 9,788 13,180 42,122 - - 42 33,612 295 9,864 8,869 10,223,148 9,830 1,602,447 7,138,050 - - 170,064 - - 3,078,200 173,800 - 9,038,512 - - 1,974,908 - _ 8,244 295,176 - - - 147,610 - - - - - 1,397,686 - 173,800 - 9,208,576 147,610 1,405,930 5,348,284 (163,936)_ 8,869 1,014,572 (137,780) 196,517 1,789,766 - 534,911 - - 35,605 - - (1,224,472) (14,779) (183,953) (1,368,444) - - (689,561) (14,779) 183,953 1,332,839 (163,936) 8,869 325,011 (152,559) 12,564 456,927 235,215 391,371 3,587,593 1,509,647 1,304,954 4,801,162 $ 71,279 $ 400,240 $ 3,912,604 $ 1,357,088 1,317,518 $ 5,258,089 j (Continued) G-16 I MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES-CONTINUED NONMA,IOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 201 - SPECIAL Local 911 Duck Key Housing Municipal Enhancement Security Assistance Policing Fees District Revenues: Taxes $ - $ 3,617,065 $ - $ - Licenses and Permits _ - - 75,665 Intergovernmental 350,000 - - - Cha.rges for Services - 3,208,504 - - Fines and Forfeitures - - - - Investment Income 12,306 13,126 - 2,687 Miscellaneous 31,89 - - - Total revenues 394,203 6,838,695 - 78,352 Expenditures: Current: General Government - 63,036 - - Public Safety - 800,947 - 48,187 Physical Environment - - - - Transportation - - - - Economic Environment 42,555 - - - Human Services - - - - Culture and Recreation - - - - Court Related - - - - Capital Projects - - - - Total Expenditures 42,555 863,983 - 48,187 Excess/Deficiency of Revenues Over/(Under) Expenditures 351,648 5,974,712 - 30,165 Other Financing Sources/(Uses): Transfers from Other Funds - 106,325 - 504 Transfers to Other Funds - (6,251,446) - (1,691) Debt Issuance - Total Other Financing Sources/(Uses) - � (6,145,121) - {1,187) Net Change in Fund Balances 351,648 (170,409) - 28,978 Fund Balances-October 1 744,378 1,982,010 47 341,942 Transfers (to)ffrom Fund Balances - - (47) - Fund Balances-September 30 $ 1,096,026 $ 1,811,601 $ - 370,920 G-17 REVENUE FUNDS Miscellaneous Law Court Drug Boating Special Environmental Enforcement Facility Abuse Improvement Revenue Restoration Trust Fees Trust 38,932 - - - - 686,993 321,560 - - 657,765 17,676 - 140,730 155,043 - - - 14,522 14,535 9,035 - 14,993 828 1,500 375,279 - - 88 - 703,015 891,036 164,078 - 672,846 18,504 - 19,221 - _ 472,086 - 158,229 - 196,207 - - - 22,250 l _ 27,344 - - - - 333,484 - - 77,114 - 472,086 576,256 158,229 - 77,114 22,250 230,929 314,780 5,849 - 595,732 (3,746) - (27,269) (1,191) - (27.269) (1,191) - - - 230,929 287,511 4,658 - 595,732 (3,746) 1,944,929 1,832,879 1,320,998 643,022 1,852,997 132,628 - - - (643,022) - - $ 2,175,858 2120,390 1,325,656 $ - $ 2,448,729 $ 128,882 ;k (Continued) G-18 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES-CONTINUED NONMAJtOR GOVERNMENTAL, FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2011 SPECIAL Marathon Bay Point Big Coppitt Key Largo Municipal Wastewater Wastewater Wastewater Service MSTU MSTU MSTU Revenues* Taxes $ 119 - $ 18 $ 1,069 Licenses and Permits - - - - Intergovernmental - - - - Charges for Services - - - - Fines and Forfeitures - - - - Investment Income 23 712 367 138 Miscellaneous - 2,052 - - Total Revenues 142 2,764 385 1,207 Expenditures: Current. General Government - - 843 - Public safety - - - - Physical Environment 24,866 1,595 46,881 19,486 Transportation - - - - Economic Environment - _ - - Human Services - - - - Culture and Recreation - - - - Court Related - - - - Capital Projects - - - - Total Expenditures 24,866 1,595 47,724 19,486 Excess/Deficiency of Revenues Over/(Under) Expenditures (24,724) 1,169 (47,339) (18,279) Other Financing Sources/(Uses)- Transfers from Other Funds 2 - - 16 Transfers to Other Funds (4) - (1,000) (32) Debt Issuance - - - - Total Other Financing Sources/(Uses) (2)_ - (1,000) (16) Net Change in Fund Balances (24,726) 1,169 (48,339) (18,295) Fund Balances-October 1 25,364 103,919 78,806 32,298 Transfers (to)Ifrom Fund Balances - - - - Fund Balances-September 30 $ 638 $ 105,088 $ 30,467 $ 14,O03 G-19 REVENUE FUNDS Cudjoe- Long Key, Stock Island Sugarloaf Coach Key Layton Duck Key Building Wastewater MSTU MSTU MSTU MSTU Fund $ 135 $ 1,184 $ 9 $ 40 $ 97,944 $ - 61,107 - - - - 2,180,440 - - - - - 53,078 3,612 1,274 1 143 903 7,980 - - - - - 10,836 64,854 2,458 10 183 98,847 2,252,334 - - - - - 2,352,731 9,581 72,837 1,339 3,443 42,377 - 9,581 72,837 1,339 3,443 42,377 2,352,731 55,273 70,379 (1,329) (3,260) 56,470 (100,397) 507 18 - - 1,451 - (1,004) (36) - - (2,186) - (497) (_1 4 - - (735) - f 54,776 (70,397) (1,329) (3,260) 55,735 (100,397) 482,653 225,923 4,322 28,197 59,712 1,056,956 $ 537,429 $ 155,526 $ 2,993 $ 24,937 $ 115,447 $ 956,559 (Continued) G-20 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES-CONTINUED NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2011 SPECIAL Sheriffs Sheriffs Sheriffs Sheriff's Federal State Contract Teen Court Forfeiture Forfeiture Administrative Revenues: Taxes $ - $ - $ - $ - Licenses and Permits - - - - Intergovernmental - 184,743 - 367,100 Charges for Services 64,516 - - 2,946,055 Fines and Forfeitures - - 77,662 - Investment Income - 14,034 4,325 577 Miscellaneous - - 1 - Total Revenues 64,516 198,777 81,988 3,313,732 Expenditures: Current: General Government - - - - Public Safety 58,853 310,421 67,032 3,178,845 Physical Environment - - - - Transportation - - - - Economic Environment - - - - Human Services - - - - Culture and Recreation - - - - Court Related - - - - Capital Projects - - - - Total Expenditures 58,853 310,421 67,032 3,178,845 Excess/Deficiency of Revenues Over/(Under) Expenditures 5,663 (111,644) 14,956 134,887 Other Financing Sources/(Uses): Transfers from Other Funds - - - - Transfers to Other Funds - - (3,000) - Debt Issuance - - - - Total Other Financing Sources/(Uses) - - (3,000) - Net Change in Fund Balances 5,663 (111,644) 11,956 134,887 Fund Balances-October 1 9,398 1,060,001 - 394,050 Transfers (to)Ifrom Fund Balances - 687,475 643,022 - Fund Balances-September 30 $ 15,061 $ 1,635,832 $ 654,978 $ 528,937 i G-21 REVENUE FUNDS Sheriff's Sheriff s Sheriff's Sheriff's Sheriffs Sheriff's interagency Trauma Radio Sheriffs Shared Asset South Florida Commissary Communications Star Comm, Grants Forfeiture LETF - - - - 929,178 - - 432,220 58,009 1,267,741 351,448 - - - 157,109 - - - - - 2,310 - - - - 237,771 - 6,165 10,672 - - - - - 440,695 225,790 1,267,741 351,448 929,178 237,771 - 280,338 267,592 1,260,500 274,198 971,298 161,988 - 280,338 267,592 1,260,500 274,198 971,298 161,988 - 160,357 (41,802) 7,241 77,250 (42,1201 75,78 - 2,999 - - - 54,130 - - - (7,241) (77,250) - - - 2,999 - (7,241) (77,250) 54,130 - _ 163,356 (41,802) - - 12,010 75,783 - 236,581 1,225,331 - - - 5,013,764 687,475 - - - - - - (687,475) $ 399,937 $ 1,183,529 $ - $ - $ 12,010 $ 5,089,547 $ - (Continued) G-22 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES-CONTINUED NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2011 SPECIAL REVENUE Clerk's Clerk's Supervisor's Sheriff's Records Court Voter Ed & E911 Modernization Related Equipment Revenues: Taxes $ - $ - - $ Licenses and Permits Intergovernmental - - 3,476,862 - Charges for Services 555,411 217,833 - - Fines and Forfeitures - 213,694 - - Investrnent Income 13,643 9,866 - 6 Miscellaneous - - 115 - Total Revenues 56 ,054 441,393 3,476,977 6 Expenditures., Current: General Government - _ - - Public Safety 359,353 - - - Physical Environment - - - - Transportation - - - - Economic Environment - - - - Human Services Culture and Recreation - _ - - Court Related - 215,219 3,550,514 - Capital Projects - - - _ Total Expenditures 359,353 215,219 3,550,514 - Excess/Deficiency of Revenues Aver!(Under) Expenditures 209,701 226,174 (73,537) 6 Other Financing Sourcest(Uses): Transfers from Other Funds - - 563,410 - Transfers to Other Funds - - (489,873) - Debt Issuance - - - - Total tither Financing Sources/(Uses) - - 73, 3 - Net Change in Fund Balances 209,701 226,174 - 6 Fund Balances-October 1 1,720,951 951,641 - 17,692 Transfers (to)/from Fund Balances 47 - - - Fund Balances-September 30 $ 1,930,699 $ 1,177,815 $ - 17,698 G-23 FUNDS CAPITAL PROJECT FUNDS Total Total Nonrnajor Clerk's Infrastructure Big Coppitt Duck Key Nonmajor Special Revenue Revenue Revenue Bonds Wastewater Wastewater Governmental Funds Nate Series 2003 Project Project Funds $ 40,690,084 $ - $ - $ 386 $ 76 $ 40,690,546 2,519,814 - - 642,518 139,597 3,301,929 13,3656,109 - - - 9,188 13,375,297 12,124,205 - - - - 12,124,205 1,183,544 - - - - 1,183,544 716,300 677 3,508 22,156 11,520 7.54,161 1,588,338 - - - - 1,588,338 72,188,394 677 3,508 665,060 160,381 73,018,020 3,312,143 - - - - 3,312,143 21,598,724 - - - - 21,598,74 1,156,140 - - - - 1,156,140 3,408,526 - _ - - 3,408,526 19,604,047 - - - - 19,604,047 66,067 - - - - 366,067 1,431,630 - - - - 1,431,630 4,176,331 - - - - 4,176,331 - - 35,184 868,721 4,699,267 5,603,172 55,053,608 - 35,184 868,721 4,699,267 60,656,780 17,134,786 677 (31,676) (203,661) (4,538,8M _ 12,361,240 2,166,630 - - 421 5,000,083 7,167,134 (11,282,674) - - (5,005,734) - (16,288,408) - - - 5,005,734 - 5,005,734 (9,116,044) - - 421 5,000,083 (4,115,540) 8,018,742 677 (31,676) (203,240) 461,197 8,245,700 64,501,776 100,549 785,683 3,106,956 509,247 69,004,211 $ 72,520,518 $ 101,226 $ 754,007 $ 2,903,716 -- 970,444 $ 77,249,911 i a G-24 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL. AFFORDABLE HOUSING PROGRAMS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ 500 $ 2,601 $ 2,101 Miscellaneous - - 4,560 4,560 Total Revenues - 500 7,161 6,661 EXPENDITURES: Current: Economic Environment: Affordable Housing Initiatives 39,315 290,000 - 290,000 Excess/Deficiency of Revenues Over/(Under) Expenditures (391315) (289,5 7,161 296,661 Other Financing Sources/(Uses): Reserve for Contingencies (7,787) (5,000) - 5,000 Reserve for Cash Balance (9,000) (9,000) - 9,000 Total Other Financing Sources/(Uses) (16,787) r (14,000) - 14,000 Net Change in Fund Balances (56,102) (303,500) 7,161 310,661 Fund Balances, October 1 56,102 303,500 371,191 67,691 Fund Balances, September 30 $ - $ - $ 378,352 $ 378,352 G-25 MIONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANCES IN FUND BALANCES - BUDGET AND ACTUAL ROAD AND BRIDGE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Revenues: Taxes $ 2,080,000 $ 2,080,000 $ 2,080,227 $ 227 Intergovernmental 3,225,000 3,225,000 3,355,160 130,160 Charges for Services 4,000 4,000 86,350 82,350 Investment Income 50,000 50,000 56,439 6,439 Miscellaneous 40,000 40,000 34,868 (5,132) Total Revenues 5,399,000 5,399,000 5,613,044 214,044 Expenditures: Current: Transportation: Road Department 2,635,527 2,635,527 2,541,497 94,030 County Engineer Road and Bridge 304,821 304,821 270,305 34,516 Street Lighting 253,923 253,923 188,877 65,046 Local Option Gas Tax Projects 397,583 397,583 345,467 52,116 60% Gas Tax 725,000 725,000 58,314 666,686 Total Transportation 4,316,854 4,316,854 3,404,460 912,394 Excess/Deficiency of Revenues Overl(Under) Expenditures 1,082,146 1,082,14E 2,208,584 1,126,438 Other Financing Sources/(Uses): Reserve for Contingencies (721,148) (1,082,722) - 1,082,722 Reserve for Cash Balance (1,272,524) (1,272,524) - 1,272,524 Transfers from Other Funds - 475,574 475,574 - Transfers to Other Funds (790,621) (904,621) (857,200) 47,421 Total Other Financing Sources/(Uses) (2,784,293) (2,784,293) (381,6ga 2,402,667 Net Change in Fund Balances (1,702,147) (1,702,147) 1,826,958 3,529,105 Fund Balances, October 1 1,702,147 1,702,147 7,001,726 5,299,579 Fund Balances, September 30 $ - $ - $ 8,828,684 $ 8,828,684 G-26 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, ALL DISTRICTS, TWO CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2€1'11 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 3,169,887 $ 3,169,887 $ 3,647,152 $ 477,265 Investment Income - - 21,032 21,032 Miscellaneous - 225,761 225,761 - Total Revenues 3,169,887 3,395.646 3,893,945 498,297 EXPENDITURES: Current: Economic Environment: Cultural Umbrella 756,800 756,800 607,990 148,810 Fishing Umbrella 721,300 721,300 636,897 84,403 Dive Umbrella 450,000 450,000 427,578 22,422 Operations - Events 1,578,644 1,804,405 1,256,736 547,669 Catastrophic Emergency 857,833 857,833 - 857,833 Special Projects 657,433 657,433 358,924 298,509 Total Expenditures 5,022,010 5,247,771 3,288,125 1,959,646 Excess/Deficiency of Revenues Overl(Under) Expenditures �1,852,123) (1,8 2,123) 605,820 2,457,943 Other Financing Sources/(Uses): Transfers from Other Funds - - 72,048 72,048 Transfers to Other Funds (74,629) �(74,629) � (74,629) - Total Other Financing Sources/(Uses) (74,62a 74,62 2,581 72,048 Net Change in Fund Balances (1,926,752) (1,926,752) 603,239 2,529,991 Fund Balances, October 1 1,926,752 1,926,752 2,677,007 750,25 Fund Balances, September 30 $ - $ - $ 3,280,246 $ 3,280,246 G-27 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL TOURIST DEVELOPMENT, ADMINISTRATION AND PROMOTIONAL, TWO GENT SPECIAL. REVENUE FUND FOR THE YEAR ENDED SEPTEMIBER 30, 2011 Variance with Final Beget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 6,206,162 $ 6,206,162 $ 7,557,617 $ 1,351,455 Investment Income - - 34,945 34,945 Miscellaneous - 467,820 467,931 111 Total Revenues 61206,162 6,673,982 8,060,493 1,386„511 EXPENDITURES: Current: Economic Environment: Advertising and Promotion 5,222,661 5,641,931 4,672,926 969,005 Administrative Services 693,182 741,732 660,762 80,970 Catastrophic Emergency 1,815,419 1,815,419 - 1,815,419 Special Projects 861,896 861,896 705,485 156,411 Total Expenditures 8,593,158 9,060,978 6,039,173 3,021,805 Excess/Deficiency of Revenues Overt(Under) Expenditures �2,386,996) (2,386,996) 2,021,320 4,408,316 Other Financing Sources/(Uses): Transfers from Other Funds - - 149,298 149,298 Transfers to Other Funds (141,590) (141,590) (88,508) 53,082 Total Other Financing Sources/(Uses) (141,590) 141,590 60,790 202,380 Net Change in Fund Balances (2,528,586) (2,528,586) 2,082.110 4,610,696 Fund Balances, October 1 2,528,586 2,528,586 3,864,436 1,335,850 Fund Balances, September 30 $ - $ - $ 5,946,546 $ 5,946,546 G-28 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL. TOURIST DEVELOPMENT, DISTRICT*ONE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 4,796,236 $ 4,796,236 $ 6,502,512 $ 1,706,276 Investment Income - - 32,410 32,410 Miscellaneous - 208,443 208,443 - Total Revenues 4,796,236 5,004 679 6,743,365 1,738,686 EXPENDITURES: Current: Economic Environment: Advertising and Promotion 3,335,899 3,544,342 3,197,552 346,790 Administrative Services 172,729 172,729 130,933 41,796 Special Events 447,930 447,930 23,294 194,636 Bricks and Mortar 2,662,377 2,653,158 1,314,973 1,338,185 Information Services 302,250 302,250 302,250 - Beaches 429,874 439,093 70,210 368,883 Total Expenditures 7,351,059 7,559,502 5,269,212 2,290,290 ExcessiDeficiency of Revenues Over/(Under) Expenditures (2,554,823) (2,554,823) 1,474,153 4,028,976 Other Financing Sources/(Uses): Transfers from Other Funds _ - 91,673 91,673 Transfers to Other Funds (52,167) (52,167) (52,167)_ - Total Other Financing Sources/(Uses) (52,167)_ _ (52,167)_ 39,506 91,673 Net Change in Fund Balances (2,60 i,990) (2,606,990) 1,513,659 4,120,649 Fund Balances, October 1 2,606,990 2,606,990 4,141,198 1,534,208 Fund Balances, September 30 $ - $ - $ 5,654,857 $ 5,654,857 I G-29 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT#TWO SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 520,974 $ 520,974 $ 556,658 $ 35,684 Investment Income - - 1,396 1,396 Miscellaneous - 21,653 21,653 - Total Revenues 520,974 542,627 579,707 37,080 EXPENDITURES: Current: Economic Environment- Advertising and Promotion 318,860 340,513 315,248 25,265 Administrative Services 16,427 16,427 14,280 2,147 Special Events 20,125 20,125 18,301 1,824 Bricks and Mortar 189,118 189,118 87,708 101,410 Information Services 76,000 76,000 76,000 - Total Expenditures 620,530 642,183 511,537 130,646 Excess/Deficiency of Revenues Overl(Under) Expenditures 99,556 (99,556} 68,170 167,726 Other Financing Sources/(Uses): Transfers from Other Funds - - 8,885 8,885 Transfers to Other Funds (21,626) (21,626} 21,626 - Total Other Financing Sources/(Uses) (21,626) 2� (12,741} 6,885 Net Change in Fund Balances (121,182) (121,182) 55,429 176,611 Fund Balances, October 1 121,182 121,182 175,614 54,432 Fund Balances, September 30 $ - $ - $ 231,043 $ 231,043 ' G-30 a i MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT#THREE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 1,193,646 1,193,646 1,604,976 $ 411,330 Investment Income - - 7,702 7,702 Miscellaneous - 53,234 53,234 - Total Revenues 1,193,646 1,246,880 1,665,912 419,032 EXPENDITURES: Current: Economic Environment: Advertising and Promotion 1,065,511 1,127,745 1,031,436 96,309 Administrative Services 51,786 51,786 34,253 17,533 Special Events 153,672 144,672 101,253 43,419 Bricks and Mortar 615,495 615,495 407,348 208,147 Information Services 120,000 120,000 120,000 - Total Expenditures 2,006,464 2,059,698 1,6 4,290 365,408 Excess/Deficiency of Revenues Over/(Under) Expenditures 812,818 812,818 (28,378) 784,440 Other Financing Sourcest(Uses): Transfers from Other Funds - - 26,845 26,845 Transfers to Other Funds 12,242 (12,242) (12,242) - Total Other Financing Sources/(Uses) (12,242) (12,242) � 14,603 26,845 Net Change in Fund Balances (825,061) (825,060) (13,77 ) 811,285 1 Fund Balances, October 1 825,060 825,060 1,124,651 299,591 Fund Balances, September 30 $ - $ - $ 1,110,876 $ 1,110,876 G-31 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT#FOUR SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual _ (Negative) REVENUES: Taxes $ 4,164,600 $ 1,164,600 $ 1,188,322 $ 23,722 Investment Income - - 4,366 4,366 Miscellaneous - 46,980 46,980 - Total Revenues 1,164,600 1,211,580 1,239,668 28,088 EXPENDITURES: Current. Economic Environment: Advertising and Promotion 1,241,744 1,323,724 1,197,820 125,904 Administrative Services 46,154 46,154 31,253 14,901 Special Events 61,201 26,201 23,343 2,858 Bricks and Mortar 449,604 449,604 98,238 361,36E Information Services 110,000 110,000 110,000 - Total Expenditures 1,908,703 1,955,683 1,460,654 495,029 Excess/Deficiency of Revenues { p ( 1 03) (744,103)., .. (220,986) 523,117 Overt(Under)nder) Expenditures 744 ..,_ .� Other Financing Sources/(Uses): Transfers from Other Funds - - 21,372 21,372 Transfers to Other Funds (13,958) � (13,958) '13� , 58 - Totai Other Financing Sources/(Uses) 1�8) (13,958) 7,414 21,372 Net Change in Fund Balances (758,061) (758,061) (213,572) 544,489 Fund Balances, October 1 758,061 758,061 750.924 (7,137) Fund Balances, September 30 $ - $ - $ 537,352 $ 537,352 t t G-32 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT#FIVE SPECIAL REVENUE FUND FOR THE YEAR (ENDED SEPTEMBER 30, 201'1 Variance with Final Budget i Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 1,260,143 1,260,143 $ 1,352,302 $ 92,159 Investment Income - - 3,916 3,916 Miscellaneous 52,354 52,354 - Total Revenues 1,260,143 1,312,497 1,408,572 96,075 EXPENDITURES: Current: Economic Environment: Advertising and Promotion 827,745 906,099 797,319 108,780 Administrative Services 42,693 42,693 33,254 9,439 Information Services 125,000 125,000 125,000 - Special Events 238,853 212,853 176,350 36,503 Bricks and Mortar 4 a8,483 468,483 166,578 301,905 Total Expenditures 1,702,774 1,755,128 1,298,501 456,627 Excess/Deficiency of Revenues Over/(Under) Expenditures (442,631) (42,631) 110,071 552,702 Other Financing Sources/(Uses): Transfers from Other Funds - 21,057 21,057 Transfers to Other Funds ( 1,899) P11899) (31,899} - Total Other Financing Sources (Uses) (31,899) 31( ,899) _ (10,842) 21,057 Net Change in Fund Balances (474,530) (474,530) 99,229 573,759 Fund Balances, October 1 474,530 474,530 604,746 130,216 Fund Balances, September 30 $ - $ - $ 703,975 $ 703,975 0-33 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL IMPACT FEES - ROADWAYS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 63,000 63,000 $ 68,031 $ 5,031 Investment Income 36,000 36,000 42,469 6,469 Total Revenues 99,000 99.000 110,500 11,500 EXPENDITURES: Current: Transportation: Fair Share Improvement County Wide 422,096 422,096 - 422,096 Fair Share Improvement Dist 1 475,574 - - - Fair Share Improvement Dist 2 528,192 8,192 - 8,192 Fair Share Improvement Dist 3 1,508,724 1,508,724 1,508,724 Fair Share Improve Key Colony Beach 32,102 32,102 32,102 Truman Bridge Ped Bridge 430,000 950,000 - 950,000 Bike/Shared Use Path 1,800,000 1,800,000 4,066 1,795,934 Total Expenditures 5,196,688 4,721,114 4,066 4,717,048 Excess/Deficiency of Revenues t Over/(Under) Expenditures (5,097,686) (4,622,114) 106,434 4,728,548 Other Financing Sources/(Uses): Transfers to tither Funds - (475,574) 475,574 - Net Change in Fund Balances (5,097,688) (5,097,688) (369,140) 4,728,548 Fund Balances, October 1 5,097,688 5,097,688 6,407,120 1,309,432 Fund Balances, September 30 $ - $ - $ 6,037,980 $ 6,037,980 x i G-34 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - PARRS AND RECREATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES. Licenses and Permits $ 24,000 $ 24,000 $ 34,680 $ 10,680 Investment Income 2,500 2,500 3,212 712 Total Revenues 26,500 26,500 37,892 11,392 EXPENDITURES: Current. Culture and Recreation: District 1 Projects 47,165 15,165 - 15,165 District 2 Projects 179,581 179,581 - 179,581 District 3 Projects 46,195 46,196 - 46,195 Bay Paint Park 50,000 50=0 - 50,000 Big Coppitt Park 20,000 20,000 - 20,000 Palm Villa Park 25,000 25,000 - 25,000 Watson Field 12,000 12,000 - 12,000 Bernstein Park - 32,000 6,600 25,400 Total Expenditures 379,941 379,941 6,600 373,341 Net Change: in Fund Balances (353,441) (353,441) 31,292 384,733 Fund Balances, October 1 353,441 353,441 438,476 85,035 Fund Balances, September 30 $ - $ - $ 469,768 $ 469,768 1 3 A 3 3 4 I G-35 ......................... MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANCES IN FUND BALANCES -BUDGET AND ACTUAL IMPACT FEES - LIBRARIES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 20,000 20,000 $ 29,416 $ 9,416 Investment Income 5,000 5,000 5,587 587 Total Revenues 25,000 25,000 35,003 10,003 EXPENDITURES: Current: Culture and Recreation: County Wide Library Projects 549,221 549,221 - 549,221 Library Automation 46,455 46,455 - 46,455 Total Expenditures 595,676 595,676 - 595,676 Net Change in Fund Balances (570,676) (570,676) 35,003 605,679 Fund Balances, October 1 570,676 570.676 787,912 217,236 Fund Balances, September 30 $ - $ - $ 622,915 $ 822,915 �nnn f G-36 i 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, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 7,000 $ 7,000 $ 5,128 $ (1,872) Investment Income 300 300 269 (31) Total Revenues 7,300 7,300 5,397 (1,903) EXPENDITURES. Current; Physical Environment. County Wide Solid Waste Projects 37,211 37,211 - 37,211 Net Change in Fund Balances (29,911) ( 9,911) 5,397 35,308 Fund Balances, October 1 29,911 29,911 36,649 6,738 Fund Balances, September 30 $ - $ - $ 42,046 $ 42,046 G-37 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - POLICE FACILITIES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 15,000 $ 15,000 $ 11,965 $ (3,035) Investment income 500 500 583 83 Total Revenues 15,500 15,500 12,548 _- ( ,952) EXPENDITURES: Current: Public Safety: County Wide Police Facility 78,584 78,584 - 78,584 Net Change in Fund Balances (63,084) (63,084) 12,548 75,632 Fund Balances, October 1 63,084 63,084 79,320 16,236 Fund Balances, September 30 $ - $ w $ 91,868 $ 91,868 Q 'i 3 i 3 f G-38 MON+IROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANCES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES -FIRE AND EMS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES; Licenses and Permits $ 8,000 $ 8,000 8,322 $ 322 Investment Income 700 700 1,542 842 Total Revenues 8,700 8,700 9,864 1,164 EXPENDITURES: Current: Public Safety: District 1 Fire & EMS Project 35,525 1,025 - 1,025 District 2 Fire & EMS Project 6,320 6,339 - 6,339 District 3 Fire & EMS Project 71,974 8,493 - 8,493 Key Colony Beach Fire & EMS 13,602 4,054 - 4,054 District 1 Fire Hydrants - 69,825 59,850 9,975 District 3 Fire Hydrants - 98,000 98,000 - District KCB Fire Hydrants - 15,950 15,950 - Total Expenditures 127,421 203,686 173,800 29,886 Net Change in Fund Balances (118,721) (194,986) (163,936) 31,050 Fund Balances, October 1 118,721 194,986 235,215 40,229 Fund Balances, September 30 $ - $ - $ 71,279 $ 71,279 G-39 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - EMPLOYEE. FAIR SHARE HOUSING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 1 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 10,000 $ 10,000 $ 6,128 $ (3,872) Investment Income 2,500 2,500 2,741 241 Total Revenues 12,500 12,500 81869 3,631 EXPENDITURES: Current: Economic Environment: District 1 Employee Fair Share Hsg 166,826 166,826 - 166,826 District 3 Employee Fair Share Hsg 124,324 124,324 - 124,324 Total Expenditures 291,150 291,150 - 291,150 Excess/Deficiency of Revenues Over/(Under) Expenditures (278,650) (278,650) 8,869 287,519 Other Financing Sources/(Uses): Reserve for Contingencies (32,350) (32,350) - 32,350 Net Change In Fund Balances (311,000) (311,000) 8,869 319,869 Fund Balances, October 1 311,000 311,000 391,371 80,371 Fund Balances, September 30 $ - $ - $ 400,240 400,240 ) t ff G-40 2 MONROE 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, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES; Taxes $ 9,971,828 9,971,828 9,591,297 $ (380,531) Intergovernmental 48,000 48,000 58,746 10,746 Charges for Services 300,000 300,000 522,822 222,822 Investment Income 20,000 20€000 50,283 30,283 Total Revenues 10,339,828 10,339,828 10,223,148 ( 1 ,680) EXPENDITURES: Current. General Government: Tax Collector 114,261 114,261 1,053 113,208 Property Appraiser 156,011 169,011 169,011 - 270,272 283,272 170,064 113,208 Public Safety: Fire Rescue - Central 2,485,462 2,485,462 2,244,049 241,413 SAFER Program 1,317,164 1,317,164 1,311,705 5,459 Lower& Middle Keys Ambulance Dist 5,635,052 5,635,052 5,482,758 152,294 Total Public Safety 9,437,678 9,437,678 9,038,512 399,166 Physical Environment: Wastewater Upgrade 38,500 38,500 - 38,500 Total Expenditures 9,746,450 9,759,450 9,208,576 550,874 Excess/Deficiency of Revenues Overl(Under) Expenditures 593,378 580,378 1,014,572 434,194 Other Financing Sources/(Uses): Reserve for Contingencies (40,000) (27,000) - 27,000 Reserve for Cash Balance (2,232,170) (2,232,170) - 2,232,170 Transfers from Other Funds 464,440 464,440 534,911 70,471 Transfers to {ether Funds (1,374,402) (1,374,402) (1,224,472) 149,930 Total Other Financing Sources/(Uses) 3,182,132 (3,169,132) (689,561)_ 2,479,571 Net Change In Fund Balances (2,588,754) (2,688,754) 325,011 2,913,765 Fund Balances, October 1 2,588,754 2,588, 54 3,587,593 998,839 Fund Balances, September 30 $ - $ - $ 3,912,604 $ 3,912,604 G-41 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, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES. Investment Income $ 5,000 $ 5,000 $ 9,788 $ 4,788 Miscellaneous - - 42 42 Total Revenues 5,000 5,000 9,830 4,830 EXPENDITURES. Current; Human Services; Trauma District Administration 89,345 89,345 74,862 14,483 Trauma Transportation and Treatment 200,000 200,000 72,748 127,252 Trauma Pretranspvrtation 2,000 2,000 - 2,000 Trauma Facility Upgrade 100 100 - 100 Total Expenditures 291,445 291,445 147,610 143,835 Excess/Deficiency of Revenues Over/(Under) Expenditures � (286,445) (286,445) 137_780) 148,665 Other Financing Sourcest(Uses), Reserve for Contingencies (44,027) (44,027) - 44,027 Reserve for Cash Balance (88,100) (88,100) 88,100 Transfers to Other Funds (14,77 ) _ 14,779) (14,779) - Total Other Financing Sources/(Uses)Sources/(Uses) 46,�06i) ( 46F9.06) (14,779) 132,127 „ ,,..,_ Net Change in Fund Balances (433,351) (433,351) (152,559) 260,792 Fund Balances, October 1 433,351 433,351 1,509,647 1,076,296 Fund Balances, September 30 $ - $ - $ 1,357,088 $ 1,357,088 G-42 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN . FUND BALANCES - BUDGET AND ACTUAL UNINCORPORATED AREA SERVICE DISTRICT - PARKS AND RECREATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Bud eft Budget Actual (Negative) REVENUES: Taxes $ 1,583,843 $ 1,583,843 1,516,230 $ (67,613) Intergovernmental 1,500 1,500 1,576 76 Charges for Services 45,000 45,000 37,849 (7,151) Investment Income 8,000 8,000 13,160 5,180 Miscellaneous 20,000 20,000 33,612 13,612 Total Revenues 1,658,343 1,658,343 1,602,447 55,896 EXPENDITURES: Current: ' Physical Environment: Wastewater Upgrade 112,750 112,70 8,244 104,506 Culture and Recreation: Parks & Beaches Unincorporated 1,578,724 1,578,724 1,188,493 390,231 Jacobs Aquatic Center 180,000 180,000 180,000 - School Board Intedocal 32,000 32,000 29,193 2,807 Total Culture and Recreation 1,790,724 1,790,724 1,397,686 393,038 Total Expenditures 1,903,474 1,903,474 1,405,930 497,544 ExcessfDeficiency of Revenues Over/(Under) Expenditures (245,131) 245,131 196,517 441,648 Other Financing Sourcest(Uses): Reserve for Contingencies (20,000) (20,000) - 20,000 Reserve for Cash Balance (355,463) (355,463) - 355,463 Transfers to Other Funds (183,953) 1�53) (183,953) - Total Other Financing Sourcesf(Uses) ; 59,416) (559,416) (183,953) 375,463 Net Change in Fund Balances (804,547) (804,547) 12,564 817,111 Fund Balances, October 1 804,547 804,547 1,304,954 500,407 Fund Balances, September 30 $ - $ - $ 1,317,518 $ 1,317,518 i G-43 r....... .......... MONROE COUNT'`, 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, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 1,521,747 $ 1,521,747 1,375,208 $ (146,539) Intergovernmental 4,864,133 4,864,133 4,642,744 (221,389) Charges for Services 560,000 560,000 638,375 78,375 Fines and Forfeitures 150,000 150,000 439,306 289,306 Investment Income 50,000 50,000 42,122 (7,878) Miscellaneous 4,000 4,000 295 ( ,705) Taal Revenues 7,149,880 7,149,880 7,138,050 (11,830) Expenditures: Current: General Government: Tax Collector 10,580 10,580 708 9,872 Property Appraiser 41,240 41,240 39,920 1,320 Growth Mgmt County Attorney 527,746 527,746 491,712 36,034 Planning Department 1,189,704 1,098,204 1,052,378 45,826 2010 Comprehensive Plan 260,000 310,000 265,720 44,280 GIS 199,855 199,855 168,827 31,028 Planning Commission 84,167 84,167 81,845 2,322 Growth Mgmt Administration 773,577 1,002,877 975,097 27,780 Planning and Building Refunds - 4,000 1,993 2,007 Total General Government 3,086,869 3,278,669 3,078,200 _- 00,469 Public Safety: Code Enforcement 1,203,570 1,090,570 995,331 95,239 Fire & Rescue Coordinator 788,068 788,068 727,249 60,819 Fire Marshall 330,639 330,639 252,328 78,311 Total Public Safety 2,322, 77 2,209,277 1,974,908 234,369 Physical Environment: Pump-Out Vessel - 34 34 - Environmental Resources 297,679 297,679 295,142 2,537 Total Physical Environment 297,679 297,713 295,176 2,537 Total Expenditures 5,706,825 5,785,659 5,348,284 437,375 Excess/Deficiency of Revenues {fiver/(Under) Expenditures 1,443,055 1,364,221 1,789,766 425,545 (Continued) G-44 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, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Other Financing Sources/(Uses): Reserve for Contingencies (138,028) (34,194) - 34,194 Reserve for Cash Balance (1,306,583) (1,306,583) - 1.306,583 Transfers from Other Funds a - 35,605 35,605 Total Other Financing Sourcest(Uses) 2,788,055 _ 2,709,221) (1,332,839)Transfers to Other Funds (1,343,444) (1,368,444 1, .- � � _ � � � ��� 1,376,382 Net Change in Fund Balances (1,345,000) (1,345,000) 456,927 1,801,927 Fund Balances, October 1 1,345,000 1,345,000 4,801,162 3,456,162 Fund Balances, September 30 $ - $ - $ 5,258,089 $ 5,258,089 G-45 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL LOCAL HOUSING ASSISTANCE FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with j Final Budget i Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ - $ - $ 350,000 $ 350,000 Investment Income - 717 12,306 11,589 Miscellaneous - 22,099 31,897 9,798 Total Revenues - 22,816 394,203 371,387 EXPENDITURES: Current: Economic Environment: Homeowner Assistance 10 WW 273,773 551,958 1,958 550,000 Homeowner Assistance 09 DM 103,667 22,653 9,900 12,753 Fair Housing 09 5,000 5,000 5,000 Fair Housing 10 5,000 5,000 - 5,000 Fair Housing 11 - 5,000 - 5,000 Administration 09 15,730 15,730 15,718 12 Administration 10 53,266 30,447 14,979 15,468 Total Expenditures 456,436 635,788 42,555 593,23 Excess/Deficiency of Revenues Over/(Under) Expenditures 456,436 612,972 351.648 964,620 Other Financing Sources/f Uses): Reserve for Contingencies (20,000) (15,000) - 15,000 Reserve for Cash Balance - 108,934) - 108,934 9 ) ( ,000) (13, 434) - 123,934 Total Other Financing Sources/ Uses 20,,,......._. Net Change in Fund Balances (476,436) (736,906) 351,648 1,088,554 Fund Balances, October 1 476,436 736,906 744,378 7,472 Fund Balances, September 30 $ - $ - 1,096,026 $ 1,096,026 c -46 i MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL MUNICIPAL POLICING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 3,764,434 $ 3,764,434 3,617,065 $ (147,369) Charges for Services 3,273,269 3,273,269 3,208,504 (64,765) Investment Income 15,000 15,000 13,126 (1,874) Total Revenues 7,052,703 7,062,703 6,838,695 (214,0081_ EXPENDITURES: Current: General Government: Property Appraiser 62,143 68,143 63,036 5,107 Public Safety: Insurance Unincorporated & Layton 437,265 437,265 435,520 1,745 Insurance Islamorada 191,430 190,640 190,240 400 Insurance Marathon 163,796 175,189 175,187 2 Total Public Safety 792,491 803,094 800,947 2,147 Total Expenditures 854,634 871,237 863,983 7,254 Excess/Deficiency of Revenues Over/(Under) Expenditures 6,198,069 6,181,466 5,974,712 206,754) Other Financing Sources/(Uses): Reserve for Contingencies (100,000) (83,397) - 83,397 Reserve for Cash Balance (1,290,044) (1,290,044) - 1,290,044 Transfers from Other Funds 100,000 100,000 106,325 6,325 Transfers to Other Funds (6,286,639) (6,286,639) _C&,251,446) 35,193 Total Other Financing Sourcesf( lses) (7,576,683) 7,560,080) &,145,1211 1,414,959 Net Change In Fund Balances (1,378,614) (1,378,614) (170,409) 1,208,205 Fund Balances, October 1 1,378,614 1,378,614 1,982,010 603,396 Fund Balances, September 30 $ - $ - $ 1,811,601 $ 1,811,601 G-47 3 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL 811 ENHANCEMENT FEES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES. Investment Income $ 47 $ 47 $ - $ 47 Excess/Deficiency of Revenues Over/(Under) Expenditures 47 47 - (47) Net Change In Fund Balances 47 47 - (47) Fund Balances, October 1 $ . $ - $ 47 $ 47 Transfers (to)/from Fund Balances (47) (47) (47) - Fund Balances, September 30 $ - $ - $ - $ - G-48 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, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 73,000 $ 73,000 $ 75,665 $ 2,665 Investment Income 2,000 2,040 2,687 687 Total Revenues 75,000 75,000 78,352 3,352 EXPENDITURES: Current. Public Safety: Island Security 230,267 230,267 48,187 182,080 Total Expenditures 230,267 230,267 48,187 182,080 ExcesslDeficiency of Revenues Over/(Under) Expenditures (155,267) (155,267) 30,165 185,432 Other Financing Sources/(Uses): Reserve for Contingencies (33,417) (33,417) - 33,417 Reserve for Case Balance (66,834) (66,834) - 66,834 g Transfers from Other Funds _ - 504 504 Transfers to Other Funds (3,650) ( ,650) (1,091) 1,959 t Total Other Financing Sources/(Uses) (103,901} (1,43 901) (1,187) 102,714 Net Change in Fund Balances (259,168) (259,168) 28,978 288,146 Fund Balances, October 1 259,168 259,168 341,942 82,774 Fund Balances, September 30 $ - $ - $ 370,920 $ 370,920 G-49 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES .AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BOATING IMPROVEMENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 500,000 502,409 $ 686,993 $ 184,584 Investment Income 10,000 10,000 14,522 4,522 Miscellaneous - - 1,500 1,500 Total Revenues 510,000 512,409 703,015 190,606 EXPENDITURES: Current: Physical Environment: Boating Improvement 550,000 550,000 365,706 184,294 Boating Imp Fees/Retained Vessel 200,774 253,183 106,380 146,803 Total Expenditures 750,774 803,183 472,086 331,097 Excess/Deficiency of Revenues Overt(Under) Expenditures (240,774) 290,774 230,929 521,703 Other Financing Sources/(Uses): Reserve for Contingencies (103,880) (15,880) - 1500 Reserve for Cash Balance (214,130) (214,130) - 214,130 Transfers to Other Funds - (38,000) - 38,000 Total Other Financing Sources/(Uses) (318,010) (268,010) - 268,010 Net Change in Fund Balances (558,784) (558,784) 230,929 789,713 Fund Balances, October 1 558,784 558,784 1,944,929 1,386,145 Fund Balances, September 30 $ - $ - $ 2,175,858 $ 2,175,858 a G-50 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, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ - $ 38,932 $ 38,932 $ - Charges for Services - 730,953 321,560 (409,393) Fines and Forfeitures - 55,261 140,730 85,469 Investment Income - - 14,535 14,535 Miscellaneous - 415,180 375,279 39,901 Total Revenues - 1,240,326 891,036 349,290 EXPENDITURES: Current: General Government: Conservation Land Purchase - 450,000 - 450,000 Public Safety: Education-Building Department 23,500 38,678 18,316 20,362 Environmental Resource Education - 23,754 905 22,849 Total Public Safety 23,500 62,432 19,221 43,211 Economic Environment: Climate Leadership Summit - 40,000 - 40,000 Human Services: FL Keys Council for the Handicapped - 7,829 143 7,686 Animal Control Citations - 180 - 180 Bayshore Donations - 1,610 177 1,433 Traffic Educ, Ord 021-2002 168,619 187,216 168,618 18,598 Legal Aid - 27,787 27,269 518 Total Human Services 168,619 224,622 196,207 28,415 Culture and Recreation: Settler's Park Landscaping 11,711 11,711 - 11,711 Library Special Programs - 38,759 27,344 11,415 Library Donation-Golan Trust - 375,179 - 375,179 Total Culture and Recreation 11,711 425,649 27,344 398,305 Court Related: Alt Dispute Resolution- Civil 10,828 10,828 2,527 8,301 Teen Court-Ord 016-2004 - 27,787 27,269 518 Ord 016-2004 St Court Sup 100,000 127,787 44,288 83,499 SA Ct Tech FS28.24(12)(E) 375,000 425,942 39,366 386,576 PD Ct Tech FS28,24(12)(E) 9,856 71,171 49,941 21,230 J Ct Tech FS28.24(12)(E) 195,454 280,357 170,093 110,264 Total Court Related 691,138 943,872 333,484 610,388 (Continued) G-51 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, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Total Expenditures 894,968 2,146,575 576,256 1,570,319 Excess/Deficiency of Revenues Over/(Under) Expenditures (894,968) (906,249) 314,780 1,221,029 Other Financing Sources/(Uses). Reserve for Contingencies (431,372) (374,413) - 374,413 Transfers to Other Funds (45,678) (27,269)_ 18,409 Total Other Financing Sources/(Uses) L31,372) (420,091) (27,269) 392,822 Net Change in Fund Balances (1,326,340) (1,326,340) 287,511 1,613,851 Fund Balances, October 1 1,326,340 1,326,340 1,832,879 506,539 Fund Balances, September 30 $ - $ - 2,120,390 2,120,390 0-52 ..................................................... 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, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Fines and Forfeitures $ 100,000 $ 100,000 $ 155,043 $ 55,043 Investment Income 10,000 M000 9,035 (965) Total Revenues 110,000 110„000 164,078 54,078 EXPENDITURES: Current: Physical Environment: Environmental Restoration 192,444 191,210 15€3,229 32,981 Exms/Deehciency of Revenues Over/(Under) Expenditures (821444 (81,210} 5,849 87,059 Other Financing Sources/(Uses): Reserve for Contingencies (27,774) (27,774) - 27,774 Reserve for Cash Balance (55,552) (55,552) - 55,552 Transfers to Other Funds - 1�234)1 (1,191) 43 Total Other Financing Sources/(Uses) 83,326 84,560 (1,191) 83,369 Net Change in Fund Balances (165„770) (165,770) 4,658 170,428 Fund Balances, October 1 165,770 16 ,770 1,320,998 1,155,228 Fund Balances, September 30 $ - $ - $ 1,325,656 $ 1,325,656 3 3 t3-53 g{ S 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 SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Other Financing Sources/(Uses): Reserve for Contingencies $ (42,830) $ (42,830) $ _ $ 42,830 Reserve for Cash Balance (84,710) (84,710) - 84,710 Total Other Financing Sources/(Uses) (127,540) (127,540)w - 127,540 Net Change in Fund Balances (127,540) (127,540) - 127,540 Fund Balances, October 1 486,840 486,840 643,022 156,182 Transfers(to)Jfrom Fund Balances (359,300) (359,300) ( 43,022) (283,722) Fund Balances, September 30 $ - $ - - $ G-54 ... ................... MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL COURT FACILITY FEES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 300,000 $ 300,000 $ 657,765 $ 357,765 Investment Income 10,000 10,000 14,993 4,993 Miscellaneous - - 88 88 Total Revenues 310,000 310,000 672,846 362,846 EXPENDITURES: Current: Court Related: Court Facility 623,802 254,371 77,114 177,257 Excess/Deficiency of Revenues Overl(Under) Expenditures (313,802) 55,629 595,732 540,103 Other Financing Sourcest(Uses): Reserve for Contingencies: (100,778) (50,778) - 50,778 Reserve for Cash Balance (283,198) (283,198) - 283,198 Transfers to Other Funds - (41_%431) - 419,431 Total Other Financing ounces see 76) (753,407) - 753,407 Net Change in Fund Balances (697,778) (697,778) 595,732 1,293,510 Fund Balances, October 1 697,778 697,778 1,852,997 1,155,219 Fund Balances, September 30 $ - $ - $ 2,448,729 $ 2,448,729 I i 0-55 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, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 10,000 $ 10,000 $ 17,676 $ 7,676 Investment Income 1,000 1,000 828 172 Total Revenues 11,000 11,000 18,504 7,504 EXPENDITURES: Current: Human Services: Drug Abuse Trust Fund 78,165 78,165 22,250 55,915 Excess/Deficiency of Revenues ., Over/(Under) Expenditures (67,165) (67,165) (3,746) 63,419 ) Other Financing Sourcest(Uses): Reserve for Contingencies (11,190) (11,190) - 11,190 Reserve for Cash Balance (22,550) (22,550) - 22,550 Total Other Financing Sources/(Uses) (L3,740) (33,740) - 33,740 Net Change in Fund Balancer (100,905) (100,905) (3,746) 97,159 Fund Balances, October 1 100,905 100,905 132,628 31,723 Fund Balances, September 30 $ - $ - $ 128,882 $ 128,882 i G-56 x 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, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ - $ _ 119 $ 119 Investment Income _ - 23 23 Total Revenues - - 142 142 EXPENDITURES: Current: Physical Environment: Marathon Wastewater 28,094 25,025 24,866 159 Total Expenditures 28,094 25,025 24,866 159 ExcesslDeficiency of Revenues Over/(Under) Expenditures (28,094) (25,025) (24,724) 301 Other Financing Sources/(Uses): Reserve for Contingencies (4,193) (8,470) - 8,470 Reserve for Cash Balance (8,386) ( ,386) - 8,386 Transfers from Other Funds - - 2 2 Transfers to Other Funds (1,254) (SQ) 4) 46 Total Other Financing Sources/(Uses) (13,837) (16,906) (2) 16,904 Net Change in Fund Balances (41,931) (41,931) (24,726) 17,205 Fund Balances, October 1 41,931 41,931 25,364 (16,567) Fund Balances, September 30 $ - $ - $ 638 $ 638 G-57 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BAY POINT MUNICIPAL SERVICE TAMING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPETEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 712 $ 712 Miscellaneous _ - 2,052 2,052 Total Revenues - - 2,764 2,764 EXPENDITURES: Current: General Government: Tax Collector Fees 2,488 2,488 - 2,488 Physical Environment: Bay Point Wastewater 55,559 55,559 1,595 53,964 Total Expenditures 58,(}47 58,047 1,595 56,452 Excess/Deficiency of Revenues Over/(Under) Expenditures (581047) (58,047) 1,169 59,216 Other Financing Sourcest(Uses): Reserve for Contingencies (8,292) (8,292) - 8,292 Reserve for Cash Balance (t6, 851_ C16,585) ^ 16,585 Total Other Financing Sourcesf(Uses) (24,877) (24,877) - 24,877 Net Change in Fund Balances (82,924) (82,924) 1,169 84,093 Fund Balances, October 1 82,924 82,924 103,919 20,995 Fund Balances, September 30 $ - $ $ 105,088 $ 10 ,088 G-58 MONROE COUNTY", FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL BIG COPPITT MUNICIPAL SERVICE TAXING UNIT SPECIAL. REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ - $ - $ 18 $ 18 Investment Income - - 367 367 Total Revenues - 385 385 EXPENDITURES: Current: General Government: Tax Collector Fees 857 857 843 14 Physical Environment: Big Coppitt Wastewater 41,637 47,671 46,881 790 Total Expenditures 42,494 48,528 47,724 804 Excess/Deficiency of Revenues Overt(Under) Expenditures (42,494) r48,58) (47,339) 1,189 Other Financing Sources/(Uses): Reserve for Cash Balance (18,417) (12,383) - 12,383 Transfers to Other Funds (1,000) 1,000 1,000 - Total Otter Financing Sources/(Uses) (19.417) (13,383) 1,000 12,383 Net Change in Fund Balances (61,911) (61,911) (48,339) 13,572 Fund Balances, October 1 61,911 61,911 78,806 16,895 ( Fund Balances, September 30 $ - $ - $ 30,467 $ 30,467 ) t I A 3 3 t G-59 t IiONROE 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, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ - $ - $ 1,069 $ 1,069 Investment Income - - 138 138 Total Revenues - - 1,207 1,207 EXPENDITURES: Current: Physical Environment; Key Largo Wastewater 17,584 20,208 19,486 72 Total Expenditures 17,584 20,208 19,486 722 Excess/Deficiency of Revenues Over/(Under) Expenditures (17,584) 20,2081 18,279 1,929 Other Financing Sources/(Uses): Reserve for Casts Balance (7,872) (5,248) - 5,248 Transfers from Other Funds - - 16 16 Transfers to Other Funds (87) (787) (32_ 755 Total Other Financing Sourcest(Uses) (8,659) _ (6,035) (16) 6,019 Net Change In Fund Balances (26,243) (26,243) (18,295) 7,948 Fund Balances, October 1 26.243 26,243 32,298 6,055 Fund Balances, September 30 $ - $ - $ 14,003 $ 14,003 G-60 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 SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ - $ _ $ 135 $ 135 Licenses and Permits - - 61,107 61,107 Investment Income 2,000 2,000 3,612 1,612 Total revenues 2,OGO 2,000 64,854 62,854 EXPENDITURES: Current: Physical Environment: Stock Island Wastewater 218,909 218,909 9,581 209,328 Stook Island Cap Fee Refund 37,742 37,742 - 37,742 Total Physical Environment 255,651 256,651 9,581 247,070 Total Expenditures 256,651 256,651 9,581 247 070 Excess/Deficiency of Revenues Over/(Under) Expenditures (254,651) (254,651) 55,273 309,924 Other Financing Sources/(Uses): Reserve for Contingencies 37,743) (37,743) - 37,743 Reserve for Cash Balance (75,487) (75,487) - 75,487 Transfers from Other Funds - - 507 507 Transfers to Other Funds (7,54 - ( ,5491_- 0,004) 6,545 Total Other Financing Sources/(Uses) (120,77) (120,779) (497) 120,282 Net Change in Fund Balances (375,430) (375,430) 54,776 430,206 Fund Balances, October t 375,430 375,430 482,653 107,223 Fund Balances, September 30 $ - $ - 537,429 $ 537,429 G-61 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, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES; Taxes $ - $ - $ 1,184 $ 1,184 Investment Income 500 500 1,274 774 Total Revenues 500 500 2,458 1,958 EXPENDITURES: Current. Physical Environment: Cudjoe-Sugarloaf Wastewater 118,933 118,933 72,837 46,096 Total Expenditures 118,933 118,933 72,837 46,096 Excess/Deficiency of Revenues Over/(Under) Expenditures 118,433 (118,433) (70,379) 48,054 Other Financing Sources/(Uses): Reserve for Contingencies (17,397) (17,397) - 17,397 Reserve for Cash Balance (35,410) (35,410) - 35,410 Transfers from Other Funds - - 18 18 Transfers to Other Funds 5,312 (5,312) (36) 5,276 Total Other Financing Sources/(Uses) 58,119) (58,119) (18) 58,101 Net Change in Fund Balances (176,552) (176,552) (70,397) 106,155 Fund Balances, October 1 176,552 176,552 225,923 49,371 Fund Balances, September 30 $ - $ - $ 155,526 $ 155,526 C-62 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL CONCH KEY MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ - $ - $ 9 $ 9 Investment Income - - 1 1 Total Revenges - - 10 10 EXPENDITURES: Current: Physical Environment- Conch Key MSTU 2,307 2,307 1,339 968 Conch Key MSTU 103 103 - 103 Total Expenditures 2,410 2,410 1,339 1,071 ExcesslDefciency of Revenues Overf(Under) Expenditures (2,410) (2,410) (1,329) 1,081 Other Financing Sources/(Uses): Reserve for Contingencies (344) (344) - 344 Reserve for Cash Balance (089)_ 689 689 Total Other Financing Sourcesl(Uses) 1,033) (1,033) - 1,033 Net Change in Fund Balances (3,443) (3,443) (1,329) 2,114 Fund Balances, October 1 3,443 3,443 4,322 879 Fund Balances, September 30 $ - $ _ $ 2,993 $ 2,993 G-63 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LONG KEY-LAYTON MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Y Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ - $ - $ 40 $ 40 Investment Income - - 143 143 Total Revenues - - 183 13 EXPENDITURES: Current: General Government-, Tax Collector Fees 621 621 - 621 Physical Environment: Long fey-Layton Wastewater 14,028 14,028 3,443 1 ,585 Total Expenditures 14,649 14,649 3,443 11,206 Excess/Deficiency of Revenues Over/(Under) Expenditures (14,649) 14,649 (3,260} 11,389 x Other Financing Sourcesf(Uses), Reserve for Contingencies (1,920) (1,920) - 1,920 Reserve for Cash Balance (4,142) 4,142 - 4,142 Total tither Financing Sources/(Uses) (6,062) (6,062) - 6,062 Net Change in Fund Balances (20,711) (20,711) (3,260) 17,451 Fund Balances, October 1 20,711 20,711 28,197 7,486 Fund Balances, September 30 $ - $ - $ 24,937 $ 24,937 I i s G-64 's MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL DUCK KEY MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 101,454 $ 101,454 $ 97,944 $ (3,510) Investment Income - - 903 903 Total Revenues 101,454 101,454 98,847 (2,607} EXPENDITURES: Current: Physical Environment: Duck Key Wastewater 100,766 100,766 42,377 58,389 Total Expenditures 100,766 100,766 42,377 58,389 ExcesslDeficiency of Revenues Over/(Under) Expenditures 688 688 56,470 55,782 Other Financing Sources/(Uses): Reserve for Contingencies (14,945) (14,945) - 14,945 Reserve for Cash Balance (30,055) (30,055) - 30,055 Transfers from Other Funds - _ 1,451 1,451 Transfers to Other Funds (4,508) (4,5081 (2,186) 2,322 Total Other Financing Sources/{Uses} (49,508) (49,508 � 48,773 Net Change in Fund Balances (48,820) (48,820) 55,735 104,555 Fund Balances, October 1 48,820 48,820 59,712 10,892 Fund Balances, September 30 $ _ $ - $ 115,447 $ 115,447 G-65 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BUILDING FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 2,375,000 $ 2,375,000 $ 2,180,440 $ (194,560) Charges for Services 51.200 5,200 53,078 47,878 Investment Income 15,000 15,000 7,980 (7,020) Miscellaneous 9,000 9,000 10,836 1,836 Total Revenues 2,404,200 2,404,200 2,252,334 (151,866) EXPENDITURES: Current: Public Safety Building Department 2,159, 68 2,355,444 2,351,380 4,064 Building Refunds 2,000 5,000 1,351 3,649 Total Expenditures 2,161,968 2,360,444 2,352,731 7,713 Excess/Deficiency of Revenues Overt(Under) Expenditures 242,232 43,756 (100,39 144,153 Other Financing Sources/(Uses): Reserve for Contingencies (70,829) - - - Reserve for Cash Balance (388,445) (388,445) - 388,445 Transfers to Other Funds (368,870)_ (241,223) - 241,223 Total Other Financing Sources/(Uses) (828,144) (629,66 ) - 629,668 Net Change in Fund Balances (585,912) (585,912) (100,39 ) 485,515 Fund Balances, October 1 585,912 585,912 1,056,956 471,044 Fund Balances, September 30 $ - $ - $ 956,559 $ 956,559 C-66 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, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 72,000 $ 64,500 $ 54,516 $ 16 EXPENDITURES: Current: Public Safety 63,000 59,000 58,853 147 Excess/(Deficiency) of revenues Overl(Under) Expenditures 9,000 5,500 5,663 163 Net Change in Fund Balances 9,000 5,500 5,663 163 Fund Balances, October 1 9,398 9,398 9,398 - Fund Balances, September 30 $ 18,398 $ 14,898 $ 15,061 $ 163 G-67 lliMONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S FEDERAL FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ - $ - $ 184,743 $ 184,743 Investment Income - - 14,034 14,034 Taal Revenues - - 198,777 198,777 EXPENDITURES. Current; Public Safety 336,O00 51,600 47,411 4,189 Grants and Aid 30,000 311,600 263,010 48,590 Total Expenditures 366,000 363,200 310,421 52,779 Excess/(Deficiency) of Revenues Over/{Under} Expenditures (366,_QM (363,200) 111,644 251,556 Net Change in Fund Balances (366,000) (363,200) (111,644) 251,556 Fund Balances, October 1 1,060,001 1,060,001 1,060,001 - Transfers (to)/from Fund Balances 687,475 687,475 687,475 - Fund Balances, September 30 $ 1,381,476 1,384,276 $ 1,635,832 $ 251,556 G-68 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S STATE FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Fines and Forfeitures $ 130,930 $ 69,430 $ 77,662 $ 8,232 Investment Income 5,570 5,570 4,325 (1,245) Miscellaneous - 214,474 1 (21 A73) Total Revenues 136,500 289,474 81,988 (207,486) EXPENDITURES: Current: Law Enforcement 162,000 58,O00 67,032 (9,032) Ex ssl(Deficiency) of Revenues Overt(Under) Expenditures (2 ,59pj 231,474 14,956 (216,518) Other Financing Sources/(Uses): Transfers to Other Funds A3,00 (3,000) (3,Ot?0) - Net Change in Fund Balances (28,500) 228,474 11,9 6 (216,518) Fund Balances, October 1 28,500 (228,474) - 228,474 Transfers (t )lfrom Fund Balances - - 643,022 643,022 Fund Balances, September 30 $ - $ - $ 654,978 $ 654,978 G-69 i MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S CONTRACT ADMINISTRATIVE SPECIAL REVENUE FUND FOR THE YEAR ENDED► SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ - $ 1,400,000 $ 367,100 $ (1,032,900) Charges for Services 3,254,512 1,949,450 2,946,055 996,605 Investment Income 550 550 577 27 Total Revenges 3,255,062 3,350,000 3,313,732 36,268 EXPENDITURES: Current: Public Safety 3,126,462 3,179,500 3,178,M 655 Net Change in Fund Balances 128,600 170,500 134,887 (35,613) Fund Balances, October 1 394,050 394,O60 394,050 Fund Balances, September 30 $ 522,650 $ 564,550 $ 528,937 $ (35,613) f r G-70 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL SHERIFFS COMMISSARY SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 365,200 $ 432,000 $ 432,220 $ 220 Investment income 2,000 2,000 2,310 310 Miscellaneous 6,000 6,000 6,165 165 Total Revenues 373,200 440,000 440,695 695 EXPENDITURES: Current: Public Safety 324,000 290,000 280,338 9,662 Excess/(Deficiency) of Revenues Overl(Under) Expenditures 49,200 150,000 160,357 10,357 Other Financing Sourcesl(Uses): Transfers from Other Funds 3,000 3,O00 2,999 (1) Net Change in Fund Balances 52,200 153,000 163,356 10,356 Fund Balances, October 1 236,581 236,581 236,581 - Fund Balances, September 30 $ 288,781 $ 389,581 $ 399,937 $ 10,356 G-71 MONR©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 SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 50,000 $ 58,000 58,009 $ 9 Fines and Forfeitures 175,200 158,200 157,109 (1,091) Miscellaneous 8,800 8,800 10,672 1,872 Total Revenues 234,000 225,000 225,790 790 EXPENDITURES; Current: Public Safety 258,500 268,000 267,592 408 Excess/(Deficiency) of Revenues Overl(Under) Expenditures (24,500) (43,000) (41,802) (1 1198) Net Change in Fund Balances 24,500) (43,000) (41,802) (1,198) Fund Balances, October 1 1,225,329 1,225,329 1,225,331 2 Fund Balances, September 30 $ 1,200,829 $ 1,182,329 $ 1,183,529 $ 1,200 G-72 ................... 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, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES. Fines and Forfeitures $ 1,267,741 $ 1,267,741 $ 1,267,741 $ - EXPENDITURES: Current: Public Safety 1,267,741 1,260,500 1,260,500 - Excess/(Deficiency) of Revenues Over/(Under) Expenditures - 7}241 7,241 - Other Financing Sources/(Uses): Transfers to Other Funds - (7,241) (7,241) - Net Change In Fund Balances - - - - Fund Balances, October 1 Fund Balances, September 30 $ - $ - $ t x G-73 i 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 38, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 351,448 $ 351,448 $ 351,448 $ - EXPENDITURES: Current: Public Safety 351,448 274,198 274,198 Excess/(Deficiency) of Revenues Overl(Under) Expenditures - 77,250 771250 Other Financing Sources/(Uses): Transfers to Other Funds - (77,250) ^ (77,250) - Net Change in Fund Balances - - - Fund Balances, October 1 - _ e Fund Balances, September 30 $ - $ - $ - $ G-74 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, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 971,000 $ 927,000 $ 929,178 2,178 Investment Income 2,000 2,000 - (2,000) Total Revenges 973,000 929,000 929,178 178 EXPENDITURES: Current: Public Safety 1,023,000 977,000 971,298 5,702 Excess/(Deficiency) of Revenges Over/(Under) Expenditures (50,000 481000) 42,120 5,880 Other Financing Sources/(Uses): Transfers from Other Funds 50,000 54,000 54,130 130 Net Change in Fund Balances - 6,000 12,010 6,010 Fund Balances, October 1 - - - - Fund Balances, September 30 $ - $ 6,000 $ 12,010 $ 6,010 G-75 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S SHARED ASSET FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 1,000 $ 237,000 $ 237,771 $ 771 EXPENDITURES: Current: Public Safety 2,O00 2,000 1,399 601 Grants and Aid 198,000 163,000 160,589 2,411 Total Expenditures 200,000 165,000 161,988 3,012 Net Change in Fund Balances (199,000) 72,000 75,783 3,783 Fund Balances, October 'l 5,013,766 5,013,766 5,013,764 (2) Fund Balances, September 30 $ 4,814,766 $ 5,085,766 $ 5,089,547 $ 3,781 I ( G-76 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S SOUTH FLORIDA LAW ENFORCEMENT TRUST SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Fund Balances, October 1 $ 687,475 $ 687,475 $ 687,475 $ - Transfers (tn)ifrom Fund Balances 687,475) (687,475) (687,475) - Fund Balances, September 30 $ 687,475 $ 687,475 $ - $ - 0-77 Mt NROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL SHERIFF'S E911 SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative REVENUES: Charges for Services $ 561,000 $ 712,000 $ 555,411 $ (156,589) Investment Income 14,000 14,000 13,643 357 Total Revenues 55,000 726,000 569,054 156,946) EXPENDITURES: Current: Public Safety 296.000 530,900 369,353 171,547 Excess/(Deficiency) of revenues Over/(Under) Expenditures 279,000 195,100 209,701 14,601 Net Change in Fund Balances 279,000 195,100 209,701 14,601 Fund Balances, October 1 1,7 0,951 1,720,951 1,720,951 - Transfers (to)#from Fund Balances - - 47 47 Fund Balances, September 30 $ 1,999,951 $ 1,916,051 $ 1,930,699 $ 14,648 G-78 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL CLERK'S RECORDS MODERNIZATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 212,000 $ 212,000 $ 217,833 $ 5,833 Fines and Forfeitures 190,000 190,000 213,694 23,694 Investment Income 7,500 7,500 9,866 2,366 Total Revenues 409,50G 409,500 441,393 31,893 EXPENDITURES: Current: Court Related: Modernization Trust 903,800 903,800 215,219 688,581 Excessl(Deficiency) of Revenues COverl(Under) Expenditures _�4941300) (494,3001 226,174 720,474 Other Financing Sources/(Uses): Reserve for Contingencies 129,0� (129,000) _ 129,000 Net Change in Fund Balances (623,300) (623,300) 226,174 849,474 Fund Balances, October 1 880,500 880,500 951,641 71,141 Fund Balances, September 30 $ 257,200 $ 257,200 $ 1,177,815 $ 920,615 G-79 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL, CLERK'S COURT RELATED SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 3,514,979 $ 3,437,417 3,476,862 $ 39,445 Investment Income - - 115 115 Total revenues 3,514,979 3,437,417 3,476,977 39, 60 EXPENDITURES: Current: Court Related: Clerk Administration 290,500 290,500 247,109 43,391 Clerk Records Management 352,976 352,616 281,834 70,782 Clerk Jury Management 175,625 174,415 158,049 16,366 Clerk Circuit Court Criminal 725,613 710,233 704,703 5,530 Clerk Circuit Court Civil 494,302 484,862 448,859 36,003 Clerk Circuit Court Foreclosure 31,042 32,275 25,337 6,938 Clerk Circuit Court Family 127,047 126,247 123,913 2,334 Clerk Circuit Court Juvenile 118,230 117,093 103,813 13,280 Clerk Circuit Court Probate 92,451 92,377 91,750 627 Clerk County Court Criminal 547,864 552,296 552,269 27 Clerk County Court Civil 256,368 209,255 196,747 12,508 Clerk County Court Traffic 624,504 616,791 616,131 660 Total Expenditures 3,836,522 3,758,960 3,550,514 208,446 Excess/(Deficiency) of revenues Overl(Under) Expenditures (321,543 (321,543) (73,537) 248,006 Other Financing Sources/(Uses): Deserve for Contingencies (35,405) (35,405) - 35,405 Transfer from Other Funds - - 563,410 563,410 Transfer to Other funds _ mm (444,180) (444,180) (489„873) 45,693) Total {other Financing Sourcesl(Uses) 44 9,585 (479,585) 73,537 553,122 Net Change in Fund Balances (801,128) (801,128) - 801,128 Fund Balances, October 1 801,128 801,128 - (801,128) Fund Balances, September 30 $ - - $ - $ - G-80 MONROE COUNTY, FLORIDA ONE CENT INFRASTRUCTURE SURTAX CAPITAL PROJECT FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANCES IN FUN[ BALANCES -BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMIBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 13,000,000 13,000,000 15,374,998 $ 2,374,998 Investment Income 70,000 70,000 133,003 63,003 Miscellaneous 10 10 - _(10) Total revenues 13,070,010 13,070,010 15,508,001 2,437 991 EXPENDITURES: Current: Capital Outlay: General Government: A AA Assessments 106,600 109,715 94,963 14,752 General Government Projects 850,000 949,031 308,940 640,091 Total General Government 956,600 1,058,748_ 403,903 654,843 Public Safety Public Safety Capital Projects 1,960,240 3,625,739 409,757 3,215,98 Med Exam Environmental Mitigtn 5,500 51500 5,500 - Total Public Safety 1,965,740 3,631,239 415,257 3,215,982 Physical Environment 700,000 700,000 - 700,000 Transportation: Const. 1 gmt. 529.860 529,860 359,834 170.026 Total Capital Outlay Expenditures 4,152,200 5.919,845 1,178,994 4,740,851 Excess/Deficiency of revenues Over/(Under) Expenditures 8,917,810 7,150,165 14,329,007 7,178,842 Other Financing Sources/(Uses). Reserve for Contingencies (400,000) (3,000,000) - 3,000,000 Reserve for Cash Balance - (3,000,000) - 3,000,000 Transfers from Other Funds 563,311 2,356,408 21,282 (2,335,126) Transfers to Other Funds (16,804,145)_ _ (17,860,_512J (13,760,532) 4,100,000 Total Other Financing Sources/(Uses) (16,640,834) (21,504,124) (13,739,250) 7,764,874 Net Change in Fund Balances (7,723,024) (14,353,959) 589,757 14,943,716 Fund Balances, October 1 7,723,024 14,353,959 21,721,396 7,367,437 Fund Balances, September 30 $ - $ - $ 22,311,153 $22,311,153 G-81 MONROE COUNTY, FLORIDA INFRASTRUCTURE SALES SURTAX REVENUE BONDS, SERIES 2007 CAPITAL PROJECTS FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income 60,00(3 $ 60,000 43,768 $ 16�� ,232) EXPENDITURES: Current: Capital Outlay: Public Safety. Public Safety Projects 3,055,603 7,120,632 711 794 6 408,838 Physical Environment Projects 3,418,224 4,877,701 1,564,284 3,313,417 Culture and Recreation Protects 59,400 133,942 63 133,879 Total Capital Outlay Expenditures 6,533,227 1241_32,275 2,276 141 9,856,134 Excess/Deficiency of Revenues Overt(Under) Expenditures (6,473,227) (12,072,275 � (2,232,373) 9,839,902 Net Charge in Fund Balances (6,473,227) (12,072,275) (2,232,373) 9,839,902 Fund Balances, October 1 6,473,227 12,072,275 13,585,611 1,513,336 Fund Balances, September 30 $ - $ - $ 11,353,238 $ 11,353,238 G-82 MONROE COUNTY, FLORIDA ALL DEBT SERVICE FUNDS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 2011 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 30,000 $ 30 OOO $ 27,657 $ 2,343 EXPENDITURES: Current: Debt Service: 2003 Revenue Bonds: Principal 1,385,000 1,385,000 1,385,000 - Interest 476,683 476,683 454,176 22,507 Total 2003 Revenue Bonds 1,861,683 1,861,683 1,839,176 22,507 2007 Revenue Bonds Principal 2,685,000 2,685,000 2,685,000 - Interest 1,039,945 1,039,945 986,500 53,445 Other Debt Service Costs 255 255 255 - Total Guaranteed Entitlement Ln 3,725,200 3,725,200 3,671,755 53,445 Clean Water SRF Loan Principal 2,987,640 7,609,438 7,609,438 Interest - 383,936 383,96 - Total Guaranteed Entitlement Ln 2,987,640 7 993,374 7,993,374 - Total Expenditures 8,574,523 13,580,257 131504,3 5_ 75,952 Excess/Deficiency of Revenues Overt(Under) Expenditures (8,544,523) _ (13,550,257)_ {"13,476,648) 73,609 Other Financing Sources/(Uses): Reserve for Contingencies (1,000,000) (1,000,000) - 1,000,000 Reserve for Cash Balance (1,000,000) (1,000,000) - 1,000,000 Transfers from Other Funds 8,574,_523 13,580 257 13,580,257 - Total Other Financing Sources/(Uses) 6,574,523 11,580,257 13,580,257 2,000,000 Net Change in Fund Balances (1,970,000) (1,970,000) 103, 09 2,073,609 Fund Balances, October 1 1,970,000 1,970,000 2,091,591 121,591 Fund Balances, September 30 $ - $ - $ 2,195,200 $ 2,195, 00 G-83 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF NET ASSETS INTERNAL SERVICE FINDS SEPTEMBER 30, 2011 Worker's Group Disk Compensation Insurance Management Fund Fund Fund ASSETS Current Assets: Cash and Cash Equivalents $ 615,024 $ 2,536,832 $ 803,198 Investments 4,333,441 11,765,126 5,590,262 Accounts Receivable, Net 10,347 1,034 Due from Other Funds 23,218 142,595 Due from Other Governmental Units - 49,274 - Interest Receivable 18,965 54,370 22,905 Total current assets 4,990,648 14,558,544 6,417,399 Noncurrent Assets: Land and Other Nondepreciable Assets - - - Capital Assets, Net of Accum. Depreciation - 857 289 Total Noncurrent Assets - 857 289 Total Assets 4,990,648 14,559,401 6,417,688 LIABILITIES Current Liabilities, Accounts Payable 39,215 252,181 91,703 Accrued Wages and Benefits Payable 9,600 10,105 8,648 Claims and Judgements Payable 1,712,607 4,581,542 112,593 Due to Other Funds - - 1,847 Due to Other Governmental Units 6,549 - - Accrued Comp. Absences Payable - - - Total Current Liabilities 1,767 971 4,843,828 214,791 Noncurrent Liabilities: Accrued Comp, Absences Payable 28,433 24,049 22,567 OPEB Liability 61,643 38,656 65,226 Total Noncurrent Liabilities 90,076 62,705 87,793 Total Liabilities 1,858,047 4,906,533 302,584 NET ASSETS invested in Capital Assets, Net of Related Debt - 857 289 Unrestricted 3,132,601 9,652,011 6,114,815 Total Net Assets $ 3,132,601 $ 9,652,868 $ 6,115,104 G-84 Fleet Management Fund Total $ 185,475 $ 4,140,529 1,092,758 22,781,587 - 11,381 148 165,961 34,354 83,628 5,294 101,534 1,318,029 27,284,620 54,000 54,000 991,234 992,380 1,045,234 1,046,380 2,363,263 28,331000 56,356 439,455 47,023 75,376 - 6,406,742 - 1,847 - 6,549 ___5,038 5,038 108,417 6 935,007 62,251 137,300 260,130 425,655 322,381 562,955 430,798 71497,962 1,045,234 1,046,380 887,231 19,786,658 $ 1,932,465 $ 20,833,038 G-85 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2011 Workers Group Risk Compensation Insurance Management Fund Fund Fund Operating Revenues: Charges for Services $ 2,315„091 $ 13,822,804 $ 2,849,982 Miscellaneous 10,263 - 333,002 Total operating revenues 2,325,354 13,822,804 3,182,984 Operating Expenses: Personnel Services 191,836 203,693 193,232 Operations 336,314 771,769 1,615,255 Depreciation and Amortization - 214 334 Asserted and Paid Claims 1,726,227 15,271,807 276,718 Total operating expenses 2,254,377 16,247,483 2,085,539 Operating Income/Loss 70,977 (2,424,679) 1,097,445 Ion-Operating Revenues/(Expenses): Investment Income 28,535 103,195 47,197 Insurance Recoveries 90,275 307,278 41,611 Gain (Loss) on Disposition of Assets - - (20,819) Total Non-Operating Revenues/(Expenses) 118,810 410,473 67,989 Income/Loss Before Transfers 189,787 (2,014,206) 1,165,434 Transfers to Other Funds � (57,190) (76,101)_ (31,170) Change in Net Assets 132,597 (2,090,307) 1,134,264 Total Net Assets-October 1 3,000,004 11,743,175 4,980,840 Total Not Assets-September 30 $ 3,132,601 $ 9,652,868 $ 6,115,104 G-86 Fleet Management Fund Total $ 2,771,254 $ 21,759,131 2,210 345,475 2,773,464 22,104,606 1,093,829 1,682,590 1,248,306 3,971,644 63,723 64,271 - 17,274,752 2,405,858 22,993,257 367,606 (888,651) 13,642 192,569 - 439,164 (77) (20,896) 13,565 610,837 381,171 (277,814) (468,476) {632,937) (87,305) (910,751) 2,019,770 21,743,789 $ 1,932,465 $ 20,833,038 G-87 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2011 Worker's Group Risk Compensation Insurance Management Fund Fund Fund Operating Activities: Cash received for services $ 108,431 $ 3,729,311 $ 30,648 Cash rec'vd from other funds for goods and svcs 2,198,842 10,077,240 2,819,334 Cash received from insurance recoveries 90,275 327,952 43,490 Cash payments to suppliers for goods and svcs (333,491) (689,228) (1,565,343) Cash payments for employee services (122,078) (130,122) (100,593) Cash payments to other funds (36,262) (41,195) (45,657) Cash payments for claims (1,695,415) (14,937,301) (329,560) Other operating revenue 10,303 - 333,002 Net Cash Provided by/(Used in) Operating Activities 220,605 (1,663,343) 1,185,321 Noncapital Financing Activities: Transfers to other funds (57,190) (76,101) 31,170 Capital and Related Financing Activities: Acquisition of capital assets - - (15,360) Investing Activities: Investment income 76,290 257,894 102,214 Proceeds from sales and maturities of investments 3,670,340 14,415,464 4,088,776 Purchase of investment securities (3,708,269) (11,405,559) (5,000,106) Net Cash Provided/(Used) in Investing Activities 38,361 3,267,799 (809,116) Net Increase/(Decrease) in Cash and Cash Equivalents 201,776 1,528,355 329,675 Cash and Cash Equivalents: October 1 413,248 1,008,477 473,523 September 30 $ 615,024 $ 2,536,832 $ 803,198 G-88 Fleet Management Fund Total $ 869,486 $ 4,737,876 1,895,051 16,990,467 - 461,717 (1,359,022) (3,947,084) (635,023) (987, 1 ) (257,096) (380,210) - (16,962,276) 2,210 345,515 515,606 258,189 (468,476) (632,937) (3,643) (19,003) 25,756 462,154 817,327 22,991,907 (950,080) (21,064,014) (106,997) 2,390,047 (63,510) 1,996,296 248,985 2,144,233 $ 185,475 $ 4,140,529 (Continued) G-89 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CASH FLOWS - CONTINUED INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2011 Worker's Group Risk Compensation Insurance Management Fund Fund Fend Reconciliation of operating incomel(loss) to net rash provided by/(used in) operating activities. Operating income/(loss) $ 70,977 $ (2,424,679) $ 1,097,445 Adjustments to reconcile operating income/(loss) to net cash provided byl(used in) operating activities: Depreciation and Amortization - 214 334 Nonoperating Income-[nsurance Recoveries 90,275 307,278 41,611 Change in assets and liabilities- (I ncrease)/De crease in Accounts receivable 40 20,674 1,879 (Increase)/Decrease in Due from other funds (7,818) (74,885) - (Increase)/Decrease in Due from other gov't units - 58,632 - Increase#(Decrease) in Accounts payable 18,339 105,229 71,101 Increasel(Decrease) in Accrued wages/benefits (481) 293 616 Increasel(Decrease) in Claims/judgments payable 30,812 334,506 (52,842) Increase/(Decrease) in Due to other funds - - 1,847 Increasel(Decrease) in Due to other gov't units 6,549 - - Increase/( decrease) in Comp. absences payable (567) (2,350) (893) Increase/(Decrease) in OPEB liability 12,479 11,745 24,223 Total adjustments 149,628 761,336 87,876 Net cash provided byl(used in) operating activities $ 220,605 $ (1,663,343) $ 1,185,321 Noncash investing, capital, and financing activities. Cain (Loss) can disposition of assets $ - $ - $ �20,819) Charge in fair value of investments _$ (51,390) $ (158�OB2� $ 61,159) Cash Reconciliation: Unrestricted $ 615,024 $ 2,536,832 $ 803,198 G-90 Fleet Management Fund Total $ 367,606 $ (888,651) 63,723 64,271 - 439,164 - 22,593 (72) (82,775) (6,645) 51,987 7,970 202,639 (4,606) (4,178) - 312,476 (379) 1,468 - 6,549 1,391 (2,419) 86,618 135,065 148,000 1,146,840 $ 515,606 $ 258,189 $ 77 $ (20,896) (12,225) $ (282,836) $ 185 475 $ 4,140,529_ G-91 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF FIDUCIARY NET ASSETS ALL AGENCY FUNDS SEPTEMBER 3 , 2011 Clerk's Sheriffs Tag General General and Property Agency Agency License Tax Totals ASSETS Gash and Cash Equivalents $ 1,864,107 $ 1,216,637 $ 170,457 $ 2,077,805 $ 5,329,006 Accounts Receivable 3,901 1,644 3,819 30 9,394 Total assets $ 1,868,008 $ 1,218,281 $ 174,276 $ 2,077,835 $ 5,338,400 LIABILITIES Due to Others $ 978,406 $ 1,206,575 $ 2,425 $ 19,665 $ 2,207,071 Due to Other Governmental hits 889,602 11,706 171,851 2,058,170 3,131,329 Total liabilities $ 1,868,008 $ 1,218,281 $ 174,276 $ 2,077,835 $ 5,338,400 G-92 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS ALL AGENCY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2011 10/112010 Additions Deductions 9/30/2011 Clerk's General Assets Cash and Gash Equivalents $ 2,330,180 $ 25,255,001 $ 25,721,074 $ 1,864,107 Accounts Receivable 4,579 17,295 17,973 3,901 Total assets $ 2,334,759 $ 25,272,296 $ 25,739,047 $ 1,868,008 Liabilities Due to Others 1,393,561 $ 3,804,565 $ 4,219,720 $ 978,406 Due to Other Govemmental Units 941,198 21,467,731 21,519,327 889,602 Total liabilities $ 2,334,759 $ 25,272,296 $ 25,739,047 $ 1,868,008 Sheriffs General Assets Cash and Gash Equivalents $ 976,024 $ 2,775,847 2,535,234 $ 1,216,637 Accounts Receivable 1,958 382,881 383,195 1,644 Total assets $ 977,982 $ 3,18,728 $ 2,918,429 $ 1,218,281 Liabilities Due to Others $ 952,552 $ 2,559,546 $ 2,305,523 $ 1,206,575 Due to Other Governmental Units 25,430 376,431 390,155 11,706 Total liabilities $ 977,982 $ 2,935,977 $ 2,695,678 $ 1,218,281 Tarr and License Assets Cash and Cash Equivalents $ 155,728 $ 13,917,692 $ 13,902,963 $ 170,457 Accounts Receivable 2,314 1,505 3,819 Total assets $ 158,042 $ 13,919,197 $ 13,902,963 $ 174,276 Liabilities Due to Others $ 1,663 $ 22,085 $ 21,323 $ 2,425 Due to Other Governmental Units 156,379 13,897,112 13,881,640 171,851 Total liabilities $ 158,042 $ 13,919,197 $ 13,902,963 $ 174,276 Property Tax Assets Cash and Cash Equivalents $ 2,409,395 $ 273,368,046 $ 273,699,636 $ 2,077,805 Accounts Receivable 60 45,660 45,690 30 Total assets $ 2,409,455 $ 273,413,706 $ 273,745,326 $ 2,077,835 Liabilities Due to Others $ 20,333 $ 15,348,590 $ 15,349,258 $ 19,665 Due to Other Governmental Units 2,389,122 258,065,1.16 258,396,068 2,058,170 Total liabilities $ 2,409,455 $ 273,413,706 $ 273,745,326 $ 2,077,835 (Continued) G-93 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS-CONTINUED ALL AGENCY FUNDS 10/112010 Additions Deductions 9130/2011 Total All Agency Funds Assets Cash and Cash Equivalents $ 5,871,327 $ 315,316,586 $ 315,858,907 $ 5,329,006 Accounts Receivable 8,911 447,341 446,858 9,394 Total assets $ 5,880,238 $ 315,763,927 316,305,765 $ 5,338,400 Liabilities Due to Others $ 2,368,109 $ 21,734,786 $ 21,895,824 $ 2,207,071 Due to tither Governmental Units 31512,129 293,806,390 294,187,190 3,131,329 Total liabilities $_ 5,880,238 $ 315,541,176 $ 316,083,014 $ 5,338,400 G-94 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 overtime. Revenue Capacity These schedules contain information to help the reader assess the government's most significant local revenue source,the property tax. Debt Capacity These schedules present information to help the reader assess the affordability of the government's current levels of outstanding debt and the government's ability to issue additional debt in the future. Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader understand the environment within which the government's financial activities take place. Operating Information These schedules contain service and infrastructure data to help the reader understand how the information in the government's financial report relates to the services the government provides and the activities it performs, Sources. unless otherwise noted, the information in these schedules is derived from the comprehensive annual financial reports for the relevant year. 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"w OIL tl-� V 40 M Go Cl)06 IT Nn wl 2 R L'i Ct iD Cli to m v Nr ar ID OW S E ro- r Q E ca Z, 0 c 9% (D E > w E 0 E > E x 18 mv, 9, ED Monroe County, Florida Governmental Activities Tax Revenues By Source Last Ten Fiscal Years (accrual basis of accounting) Sales Takes state Local Local Tourist Fiscal Property Tourist Sales Development Other Year Tax im Ct'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 25,760,296 12.395,648 1.233,000 99,637,438 2904 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 3,567,410 120,839,450 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 28,455229 15,006,028 2,055,110 122,872,304 2009 81,181,540 2,567,410 25,936,719 14,962,879 1,141, 64 125,790,512 2010 81,685,080 2,820,046 27,042.539 19,658,401 1,292,038 132,498,104 2011 78,492,821 3,221,050 29,123,899 22,409,539 1,702,807 134,950,116 H-6 N NC5 c+;1 sasv g g _ cep v'n� tNsr sn tCD N rn N m ocr m us co va us rA 44 r rtco r4 t ro r ca a 0Ln ry zts to to v ua ui v� � ot� ua rn a en 49 44 44 64 47) LO en ai o ai s7i h I- N N N N CID r � 40 1H vw V3 V3 P�� Uy CY N CNi t+1 cm NO r *Y rt N tG M co LO r-- Ofi fF9 w V3 Vl fr- f3a h t� 00 C�V M 1=1 Tom- i9 to � m r tJ1 r t'7 et h s(} tcY 44 R7 40 N co Cn r 4g CA 64 in t£3 9 kn C P iA a Ary V cvl ra iA rw CT1 ['� Ca m S�pj Cv 1+ C 3 LO tm ip r E7! 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E w a Ci C7 r M C) n ilY Cp r r r m n C7 h 07 q t!�? S'7 P m P`- �' G'a U Ill cP rP �1 i7 C7 tv c4 6 C . E �a En as c - rt �r -- ry to Nr Nr Ski L7 0 O 1 11 11 Q � A N C14 N c+7 N cat 2 Q N H-12 Monroe County,Florida Principal Property Taxpayers September 30,2011 2011 2002 Percentage of Percentage of 'taxable Total Taxable Taxable Total Taxable Assessed Assessed Assessed Assessed Taxpayer Value Flank Valus Value Rank Value Fla. Keys Electric Co-Op $ 93,187,924 1 0.48%$ Windward Pointe tl LLC 73,933,928 2 0,38% Galleon Condominium Assoc Inc 69,866,602 3 0,36% City of Key West 49,642,107 4 0.25% Hyatt Vacation Management Co 47,828,254 5 0,24% BellSouth/Southern Bell 47,826,024 6 0.24% 80,454,860 1 0.71% Casa Marina 38,339,123 7 0.200/6 56,848,020 2 0,50% NWCL LLC 36,551,590 8 0.190/0 32,831,350 4 0 29% Bluegreen Resorts Management 33,151,685 9 0.17% SH5 LTD X496,729 10 0.16% 22,071,304 10 0.10% Hilton Resorts&Marina - - 39,662,221 3 0.35a/o Pier House - - 29,125,158 5 0.26% Sheraton Suites - - 27,919,313 6 0,25% Hawks Cay - - 26,920,666 7 0.24% Southernmost Beach LP - - 24,510,905 8 0.22% Sheraton Key Largo - - 23.320,602 9 0.21% $ $520.813.926 2.66%$ 363,664,399 3.20% Source: Monroe County Property Appraiser *In 2002 Taxpayer was Checca Lodge *"In 2002 Taxpayer was Holiday Inn of Key West H-13 au J Q -M � 00) C7)'f 06) 6�D CCD, M, {A 0 � ID A h tNC1 ( C CSa C� v hcr-cLo 0 (0 r- co 00 � o C- C+3 Cf3 cr cc 0 t7 Cad ct? s1' y cn c 04 co t3 f{S C7 0 + PU Cji U J 4 > U. w M r+ rr J tm C,L6i1 C(658 CTt t33 £ C71 t}9 CL 0 CL U 4) ... 0 � cv co co q '� N y co co 0 C> CN m Cd lc r- � 8 E" CCS C(k tr3 06 c tNp Chi? I- l co coaU - C7 w CO U n co E., .0 >! 04 m C) m C77 ai? CU V- w C`r t C> �" f"- T- 0 CC? �. tf) LE. t t1J CCd ice- h" h 4 co � C] 41 u Ct (tf U CL CL - to D iLs a G7 G7 t <J + C:3 C C7 Ili QUJ N N N CV CV N N N N C4 2 U. � t) H-14 r C1 v, a toil L4 c v � C r CD Cay h f"] _ tb Z z 0. 0 0 0 C) r r 04 � O QD C) t91 Ea� to rr to cv m us E M w Cl) 2 Cv cn rat c"v Ln in 04 0) w 0 i N N NCl � cl Cli cl N cl\ U o n 0- v rr- i r r N m gt C7 CJ Gn z1- �uwf�l CTi q7 a 7 N �f tli y C: cl O C7 kn 0 C 4V CN N .C1 � rpm � q O Ci CSn O Ga OtLW i�7 C N lx fl t 2 z - = 9 c0 % w V tin CD UL 0 t- oq 'Kt' tN� 0 O 0) e^ c cv U CD 00 d N «{CU c 'Cf � C C k d�7 t{f�7 aNC] y� j m N i .-- F. r r r � a Q c ar co v j: a COOaC i c $ m r r- V no to O. 0 co tq , 6 rz t�i r6i 'd o a' u' c o c 0i V as tv (q a chi a m Z en N N w-° w-- — r cl c Cps CCU of C? C7 C C Q cq M ttq Ui 03 C, n Ci N C.? W CA �7 m � LA 0 C)5 OD cD [o N m m a N " r Q V M 0 p Lo p {{� gg�ryg qq pp y C3 C7 p C C} �tJ' n > N EV N N SV N N N Q A" H-15 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 2002-2011 H-16 Monroe County, Florida Direct and Overlapping Governmental Activities Debt As of September 30,2011 Estimated Estimated Share of Debt Percentage Overlapping Governmental Unit Outstanding Applicable Debt Monroe County sloes not have any direct and overiapping govemmental activities debt as of September 30, 2011. 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 2002-2011. H-18 Monroe County, Florida Pledged-Revenue Coverage Governmental Activities Last Ten Fiscal Years Sales flax Revenue Bonds Fiscal Debt Service Year Collections Principal Interest Total Coverage 2002 $ 12, 5,370 $ 4,280,000 $ 419,774 4,699,774 169 2003 12,884,890 4,995,000 604,715 5,599,715 2.30 20G4 15,039,016 3,387,500 750,952 4,138,452 3.63 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 1,558,694 4,073,694 3.72 2009 13,702,434 3,857,500 1,728,301 5,585,801 2.45 2010 14,085,030 3,997,500 1,588,708 5,586,208 2.52 2011 15,374,998 4,145,000 1,440,676 5,585,676 2.75 Note: Details regarding the County's outstanding dent can be found in the notes to the financial statements. 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C co N N cn N M -q- 0) tG N CD U. � m C C C a c U U c 0 t[f m (D C p j E U- Ct} a.. 0- U U F•» U3 H-23 LO 8 10 t, W> E C4 Cq C't v 0 cl� loo cm N :2 Cq cm vs co to 0 GCI0� C4 001, A 40 f% "i 13� 04 cli ni fi t- m 0) C) C) 04Ga w CR r-00 0) CJZ z z f-: 03 cli cq C4 LO LO U'� kn tv co w Co CO CO C-4 iV M LO 0 w r-- 0 Or to ry 8 8 LL Cli tl-L lla Q ro cy cm 12 LL. co (D w N CO Cli co C4 N rq aq chi CL V to CI (D <D (M 0 C> 'r N C> ID 0 co 0 lq� w to cr C-4 N ry co (M wi z z C4 tli CN cc a Cl> Or Lo CO (Ii (R L6 Ld td t6 QD w tv to ti Cd 4) CL ar � W 0 N, Y- (D �2 EU -0 0 E E E C z z �n 42� E < U 0 z H-24 tf? r A7 C71 f 7 a QS M N N rM r twl O U") CSC LE3 C'1 tn (14 t!7 Lo Gf} r t r} � N r e 0 `Q o E 1r r 081 t!) t"+1 Nr I'- N r r ry � � � � L7 00o Mrm N 00 N hµ _ CV i+ E} ti9 _ 'a �[3 t C37 r o7 N N • r 1- � T- 007 J2 Ll. N co C Uf H 4t9 LL tC? er- t� C 7 Ett s r "► �� EA tom., E w (n t*t AQ G��7 M Imo- CA Q. N 4YtoCF7 � ter A09Q (yNe^ e^ m} � t[� ►C! OD r C�] IG Q1 V � co {I) E:37 fla LOiCT} C"1i €ait�( r rEd`3 � to CR7 1 N A .L7 cV m 5t r 0) 0) 0 r � <O N N r �-- +f � � � ems- tL7 co C RS E�3 93 � 'e3 , to iv O C + 0 0 A C lL N =5 (t�� G tft ur C7f L� ID r C S {} _4 CES t Ll JC�y `�� rn _ Ol Eft Cti a� 'L A CO a- `ifl tt} 4lS �- tiT €ES .� L A A A H-25 COMPLIANCE SECTION WL ,OVAMI AL � ' CERTIFIED PUBLIC CONSULTANTS INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS To the Honorable 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, 2011, which collectively comprise the County's basic financial statements, and have issued our report thereon dated March 31, 2012. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Internal Control over Financial Reporting Management of the County is responsible for establishing and maintaining effective 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 opinions 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 deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the County's financial statements will not be prevented, or detected and corrected on a timely basis. Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be deficiencies, 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. I-1 Compliance and Other Matters As part of obtaining reasonable assurance about whether the County's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. 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. Orlando, Florida March 31, 2012 1-2 9MUMUMUMr ■ � r gL• .• INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH REQUIREMENTS THAT COULD HAVE A DIRECT AND MATERIAL EFFECT ON EACH MAJOR FEDERAL AWARDS PROGRAM AND STATE FINANCIAL ASSISTANCE PROJECT AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133 AND CHAPTER 10.550, RULES OF THE AUDITOR GENERAL To the Honorable Mayor and Board of County Commissioners of Monroe County, Florida: Compliance We have audited the Monroe County, Florida (the "County"), compliance 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 State of Florida Department of Financial Services' State Projects Compliance Supplement, that could have a direct and material effect on each of the County's major federal awards programs and state financial assistance projects for the year ended September 30, 2011. The County's major federal awards programs and state financial 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, regulations, 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 noncompliance 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 examining, on a test basis, evidence about the County's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. 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 compliance requirements referred to above that could have a direct and material effect on each of its major federal awards programs and state financial assistance projects for the year ended September 30, 2011. 1-3 Internal Control over Compliance 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 awards programs and state financial assistance projects. In planning and performing our audit, we considered the County's internal control over compliance with the requirements that could have a direct and material effect on a major federal awards program or state financial assistance project in order to determine the auditing procedures for the purpose of expressing our opinion on compliance and to test and report on internal control over compliance in accordance with OMB Circular A-133 and Chapter 10.550, Rules of the Auditor General, but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the effectiveness of the County's internal control over compliance. A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a federal awards program or state financial assistance project on a timely basis. A material weakness in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program or state financial assistance project will not be prevented, or detected and corrected, on a timely basis. Our consideration of internal control over compliance was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over compliance that we consider to be deficiencies, 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, others within the entity, 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. C 0 � Orlando, Florida March 31, 2012 1-4 Monroe County, Florida Schedule Expenditures of Federal Awards and State Financial Assistance Projects For the Year Ended September 30, 2011 Federal/State Agency, Pass-through Entity CFDA Federal Program/State Project Number Department of Agriculture: Passed through Florida Department of Elder Affairs and Alliance for Aging: Nutrition Services Incentive Program -2011 10.570 Department of Health and Human Services: Passed through Florida Department of Elder Affairs and Alliance for Aging: Title IIIC1 Congregate Meals-2010 93.045 Title IIIC2 Home Delivered Meals - 2010 93.045 Title IIIC1 Congregate Meals -2011 93.045 Title IIIC2 Home Delivered Meals - 2011 93.045 Total Program Title IIIE Caregiver Support Services -2010 93.052 Title IIIE Caregiver Support Services -2011 93.052 Total Program Passed through Florida Department of Revenue, Agency for Children and Families, Office of Child Support Enforcement: Child Support Enforcement Title IV-D 93.563 Passed through Florida Department of Community Affairs: Low Income Home Energy Assistance Program -2010 93.568 Low Income Home Energy Assistance Program -2011 93.568 Total Program Total Federal Agency Department of the Interior: US Fish and Wildlife Services: Passed through Florida Department of Environmental Protection: Clean Vessel Act Grant Program 15.616 Clean Vessel Act Grant Program 15.616 Total Federal Agency Department of Justice: Direct Program: Bureau of Justice Assistance: Bulletproof Vest Partnership Grant 16.607 Monroe County Sheriff Office Crisis Intervention Training 16.738 ARRA-Recovery Act JAG Program 16.804 The accompanying notes are an integral part of this schedule. 1-5 Contract Grant Number Expenditures US1151 $ 33,928 AM 029 38,884 AA1029 50,666 AA1129 103,696 AA1129 157,254 350,500 AM 029 7,758 AA1129 39,524 47,282 CD344 138,595 10EA-8F-11-54-01-019 278,201 11 EA-8 U-11-54-01-019 186,951 465,152 1,001,529 LE655 for CVA08-498 4,107 MV022 for CVA10-575 4,727 8,834 -- 14,591 2010-DJ-BX-1076 13,309 2009-SB-B9-0468 21,798 (Continued) 1-6 Monroe County, Florida Schedule Expenditures of Federal Awards and State Financial Assistance Projects For the Year Ended September 30, 2011 Federal/State Agency, Pass-through Entity CFDA Federal Program/State Project Number Department of Justice -Continued: Passed through Office of the Attorney General: Victims of Crime Acts 16.575 Passed through Florida Department of Law Enforcement: Edward Byrne Memorial Justice Assist. Grant-Youth Challenge Middle Sch. Prog. V 16.738 Edward Byrne Memorial Justice Assistance Grant- Preventing Recidivism 16.738 Edward Byrne Memorial Justice Assistance Grant- Drug Court Program Urine Lab 16.738 Edward Byrne Memorial Justice Assistance Grant-Women in Transition 16.738 Edward Byrne Memorial Justice Assistance Grant- Boys & Girls Club Program 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 G11MI0001A High Intensity Drug Trafficking Areas G11MI0005A High Intensity Drug Trafficking Areas G11PR0001A High Intensity Drug Trafficking Areas G10M10001A High Intensity Drug Trafficking Areas G10M10005A High Intensity Drug Trafficking Areas G10PR0001A High Intensity Drug Trafficking Areas G09MI0001A High Intensity Drug Trafficking Areas G09MI0005A High Intensity Drug Trafficking Areas G09PR0001A High Intensity Drug Trafficking Areas 18PMIP598Z High Intensity Drug Trafficking Areas 18PPRP578Z High Intensity Drug Trafficking Areas 18PMIP5980 High Intensity Drug Trafficking Areas 18PMIP5981 High Intensity Drug Trafficking Areas 17PMIP598Z High Intensity Drug Trafficking Areas 17PPRP578Z High Intensity Drug Trafficking Areas 16PMIP598Z High Intensity Drug Trafficking Areas 16PMIP5980 High Intensity Drug Trafficking Areas 16PMIP5981 Total Federal Agency The accompanying notes are an integral part of this schedule. 1-7 Contract Grant Number Expenditures V10231 256,805 2011-JAGC-MONR-5-B2-142 38,500 2011-JAGC-MONR-3-B2-159 28,500 2011-JAGC-MONR-2-B2-197 27,636 2011-JAGC-MONR-1-B2-141 17,500 2011-JAGC-MONR-4-B2-185 4,701 116,837 2011-RSAT-MONR-1-A9-004 49,674 473,014 G11 M10001A 3,139,335 G11 M10005A 581,469 G11 PR0001A 2,961,592 G10M10001A 6,476,862 G10M10005A 1,006,274 G10PR0001A 3,542,393 G09MI0001A 863,704 G09MI0005A 170,676 G09PR0001A 562,315 18PMIP598Z 50,711 18PPRP578Z 245,184 18PMIP5980 146,278 18PMIP5981 37,039 17PMIP598Z 96,652 17PPRP578Z 66,126 16PMIP598Z 47,862 16PPRP5980 313,103 16PMIP5981 139,462 20,447,037 (Continued) 1-8 Monroe County, Florida Schedule Expenditures of Federal Awards and State Financial Assistance Projects For the Year Ended September 30, 2011 Federal/State Agency, Pass-through Entity CFDA Federal Program/State Project Number Department of Transportation: Direct Program: Federal Aviation Administration: Key West AI P-3735 20.106 Key West AIP-3736 20.106 Key West Al P-3739 20.106 Key West AIP-3741 20.106 Key West Al P-3742 20.106 Key West Al P-3743 20.106 Marathon AIP-4425 20.106 Marathon AIP-4427 20.106 Marathon AIP-4428 20.106 Total Federal Agency Federal Highway Administration: Passed through Florida Department of Transportation: Transportation Planning Program 07 -09 20.205 ARRA-Geiger Creek Bridge Repair Project 20.205 Local Agency Program: All American Road Signage 20.205 Local Agency Program: FL Keys Scenic Hgwy Interpretive Panels 20.205 Total Federal Agency Department of Homeland Security: Passed through Florida Department of Economic Opportunity: Public Assistance Programs: Hurricane Wilma-FEMA-DR-1609-FL 97.036 Passed through Florida Division of Emergency Management: Tropical Storm Fay- FEMA-EM-1785-DR 97.036 Hurricane Ike-FEMA-3293-EM 97.036 Total Program Emergency Management Performance Grant FY10-11 97.042 Emergency Management Performance Grant FY11-12 97.042 Total Program The accompanying notes are an integral part of this schedule. 1-9 Contract Grant Number Expenditures 3-12-0037-035-2008 1,159,065 3-12-0037-036-2008 86,994 3-12-0037-039-2009 4,136 3-12-0037-041-2009 740,744 3-12-0037-042-2010 802,393 3-12-0037-043-2010 989,723 3-12-0044-025-2008 5,595 3-12-0044-027-2009 47,917 3-12-0044-028-2010 93,315 3,929,882 8887-370 197,747 426355-1-58-01/APN75 264,769 428298-1/APW52 48,219 428017-1/APZ10 9,100 519,835 06-WL-&K-11-54-01-558 308,340 08-FA-B9-11-54-00-546 1,742,247 08-PA-00-11-54-13-509 80,988 2,131,575 1 1-FG-7W-1 1-54-01-063 45,640 12-FG-R3-11-54-01-111 36,435 82,075 (Continued) 1-10 Monroe County, Florida Schedule Expenditures of Federal Awards and State Financial Assistance Projects For the Year Ended September 30, 2011 Federal/State Agency, Pass-through Entity CFDA Federal Program/State Project Number Department of Homeland Security -Continued: State Homeland Security Grant Program 97.067 State Homeland Security Grant Program 97.067 Passed through the City of Miami: Urban Area Security Initiative Grant Program -2007 97.067 Urban Area Security Initiative Grant Program -2008 97.067 Urban Area Security Initiative Grant Program -2009 97.067 Total Program Direct Program: Staffing for Adequate Fire & Emergency Response (SAFER) 97.044 Transportation Security Administration: Law Enforcement Officer Reimbursement Agreement 97.090 Total Federal Agency Environmental Protection Agency: Capitalization Grants for State Revolving Funds 66.458 Department of Energy: Passed through Florida Department of Economic Opportunity: ARRA-Weatherization Assistance Program 81.402 Passed through Florida Energy& Climate Commission: ARRA-State Energy Program 81.041 Total Federal Agency Department of Housing and Urban Development: Passed through Florida Department of Economic Opportunity: Community Development Block Grant 14.228 Passed throught Florida Department of Children and Families: ARRA-Homeless Prevention and Rapid Rehousing Grant 14.257 Total Federal Agency United States Treasury Department: Equitable Sharing Agreement 21.000 Total Expenditures of Federal Awards The accompanying notes are an integral part of this schedule. 1-11 Contract Grant Number Expenditures 11 DS-52-11-54-01-306 56,623 11 DS-40-11-54-01-444 25,000 09-DS-24-11-23-02-011 7,918 10-DS-48-11-23-02-195 349,485 11-DS-32-11-23-02-233 52,827 491,853 E MW-2007-F F-01214 381,241 HSTS0208HSLR360 31,262 3,118,006 CS120001-090 5,030,234 10WX-7X-11-54-01-719 281,005 DE-EE0000241/ARS010 107,932 388,937 10DB-K4-11-54-02-K24 386,557 KFZ28 117,999 504,556 -- 310,421 $ 35,766,213 (Continued) 1-12 Monroe County, Florida Schedule Expenditures of Federal Awards and State Financial Assistance Projects For the Year Ended September 30, 2011 CSFA State Agency Number Florida Division of Emergency Management: Emergency Management Programs FY11 52.008 Emergency Management Programs FY12 52.008 Total Program Marathon Emergency Operations Center 52.010 Total Department Florida Department of Children and Families: Community Care for Disabled Adults -2010 60.008 Community Care for Disabled Adults -2011 60.008 Total Program Criminal Justice Mental Health and Substance Abuse Reinvestment Grant 60.115 Total Department Florida Department of Elder Affairs: Passed through The Alliance for Aging: Home Care for the Elderly-2011 65.001 Home Care for the Elderly-2012 65.001 Total Program Alzheimer's Disease Initiative -2010 65.004 Alzheimer's Disease Initiative -2011 65.004 Total Program Community Care for Elderly-2010 65.010 Community Care for Elderly-2011 65.010 Total Program Total Department Florida Department of Environmental Protection: Small County Recycling 37.012 Florida Department of Health: EMS County Award -2009 64.005 EMS County Award -2010 64.005 Total Department Florida Department of Juvenile Justice: Intensive Delinquency Diversion Service 80.022 * 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 Subrecipients* 11-BG-05-11-54-01-163 $ 63,477 -- 12-BG-05-11-54-01-044 1,340 -- 64,817 -- 08-EC-30-11-54-01-039 21,828 -- 86,645 -- KG065 47,916 -- KG066 14,060 -- 61,976 -- LHZ237 38,805 100,781 -- KH1072 31,887 -- KH 1172 7,100 -- 38,987 -- KZ1097 46,060 -- KZ1197 13,774 59,834 -- KC1071 338,682 -- KC1171 72,981 -- 411,663 -- 510,484 -- 124SC 70,588 -- C8044 11,256 -- C9044 1,722 -- 12,978 -- X1431 104,121 -- (Continued) 1-14 Monroe County, Florida Schedule Expenditures of Federal Awards and State Financial Assistance Projects For the Year Ended September 30, 2011 CSFA State Agency Number Florida Department of State: State Aid to Libraries-2010 45.030 State Aid to Libraries -2011 45.030 Total Program Historic Preservation Grant-in-Aid -- Total Department Florida Department of Transportation: Transportation Planning Program 07 -09 55.023 Pigeon Key Ferry Service 55.023 State Highway Project Reimbursement 55.023 Total Program Key West Airport 55.004 Key West Airport 55.004 Key West Airport 55.004 Key West& Marathon Airport 55.004 Key West& Marathon Airport 55.004 Key West&Marathon Airport 55.004 Total Program Total Department Florida Fish &Wildlife Conservation Commission: Boating Improvement Fund 77.006 Boating Safety Education 77.006 Total Program Exotic Plant Control Services -- Total Department Florida Housing Finance Corporation: 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 Subrecipients* 10-ST-37 33,352 -- 11-ST-36 25,411 -- 58,763 -- S1104 965 965 59,728 965 25222811407/AOU27 32,958 -- 41454515801/AOQ11 263,649 -- 25207711401/AN082 90,209 -- 386,816 -- 41253519401/ANJ94 538,905 -- 42043619401/AQ606 148,000 -- 4245819401/APT62 393,455 -- 25426919401/AO194 356,189 -- 25426919402/AK043 338,996 -- 42043719401/APG44 106,297 -- 1,881,842 -- 2,268,658 -- -- 365,706 -- 10250 48,290 -- 413,996 -- 08150 147,577 -- 561,573 -- SHIP 08-09 PLAN 6 YR 2 25,618 -- SHIP 09-10 PLAN 6 YR 3 16,936 42,554 -- $ 3,818,110 $ 965 1-16 Monroe County, Florida Notes to Schedule of Expenditures of Federal Awards and State Financial Assistance Projects For the Year Ended September 30, 2011 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 information in this schedule is presented in accordance with the requirements of OMB Circular A-133, 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. i-17 MONROE COUNTY, FLORIDA SCHEDULE OF FINDINGS AND QUESTIONED COSTS FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS For the Year Ended September 30, 2011 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 Performed in Accordance with Government Auditing Standards. 3. No instances of noncompliance material to the financial statements of the County were disclosed during the audit. 4. No significant deficiencies relating to the audit of major federal awards programs or state financial assistance projects are reported in the Independent Auditors' Report on Compliance With Requirements That Could Have a Direct and Material Effect on Each Major Federal Awards Program and State Financial Assistance Project and on Internal Control Over Compliance in Accordance with OMB Circular A-133 and Chapter 10.550, Rules of the Auditor General. 5. The Independent Auditors' Report on Compliance With Requirements That Could Have a Direct and Material Effect on Each Major Federal Awards Program and State Financial Assistance Project and on Internal Control Over Compliance in Accordance with OMB Circular A-133 and Chapter 10.550, Rules of the Auditor General expresses 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 distinguishing Type A and Type B programs/projects was $1,072,986 for major federal awards programs and $300,000 for major state financial assistance projects. 9. The County qualified as a low-risk auditee for federal Single Audit purposes, as that term is defined in OMB Circular A-133. 10. T he programs/projects tested as major programs/projects included the following: Federal Programs Federal CFDA No. High Intensity Drug Trafficking Areas 09.XXX Disaster Grants — Public Assistance 97.036 Emergency Relief Program (Highway Planning and 20.205 Construction Cluster) Weatherization Assistance Program 81.402 1-18 MONROE COUNTY, FLORIDA SCHEDULE OF FINDINGS AND QUESTIONED COSTS FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS For the Year Ended September 30, 2011 PART I - SUMMARY OF AUDITORS' RESULTS (CONTINUED) State Projects State CSFA No. Community Care for the Elderly (CCE) 65.010 Florida Boating Improvement Program 77.006 Transportation Planning Program 07-09 (State Highway 55.023 Project Reimbursement) Aviation Development Grants 55.004 PART II - 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 MONROE COUNTY, FLORIDA SUMMARY SCHEDULE OF CORRECTIVE ACTION PLAN FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS For the Year Ended September 30, 2011 There were no Single Audit findings for the year ended September 30, 2011. 1-20 MONROE COUNTY, FLORIDA SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS For the Year Ended September 30, 2011 Finding 10-01 Status: Corrected I-21 • ACCOUNTANTSCERTIFIED PUBLIC ' NSULTANTS INDEPENDENT AUDITORS' MANAGEMENT LETTER 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, 2011, and have issued our report thereon dated March 31, 2012. 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; and OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations. We have issued our Independent Auditors' Report on Internal Control over Financial Reporting and on Compliance and Other Matters, Independent Auditors' Report on Compliance with Requirements that Could Have a Direct and Material Effect on each Major Federal Program and State Financial Assistance Projects and on Internal Control over Compliance, and Schedule of Findings and Questioned Costs. Disclosures in those reports and schedule, which are dated March 31, 2012, should be considered in conjunction with this management letter. Additionally, our audit was conducted in accordance with Chapter 10.550, Rules of the Auditor General, which govern 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 aforementioned auditors' reports or schedule. Section 10.554(1)(i)l., Rules of the Auditor General, requires that we determine whether or not corrective actions have been taken to address significant findings and recommendations made in the preceding annual financial audit report. There were no recommendations made in the preceding annual financial audit report. Section 10.554(1)(i)2., Rules of the Auditor General, requires our audit to include a review of the provisions of Section 218.145, 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 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. In connection with our audit, we did not have any such recommendations. .I_1 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. 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 have an inconsequential effect on financial statements, considering both quantitative and qualitative factors: (1) violations of provisions of contracts or grant agreements, fraud, illegal acts, or abuse, and (2) control deficiencies that are not significant deficiencies. 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. Such disclosure is included in the notes to the financial statements. Section 10.554(1)(i)7.a., Rules of the Auditor General, requires a statement be included as to whether or not the local governmental entity has met one or more of the conditions described in Section 218.503(1), Florida Statutes, and identification of the specific condition(s) met. In connection with our audit of the financial statements of the County, the results of our tests did not indicate the County met any of the specified conditions of a financial emergency contained in Section 218.503(1). However, our audit does not provide a legal determination of the County's compliance with this requirement. Section 10.554(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, 2011, filed 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, 2011. Our comparison of the financial report filed with the Florida Department of the Financial Services to the County's 2011 audited financial statements resulted in no material differences. Pursuant to Sections 10.554(1)(i)7.c. and 10.556(7), Rules of the Auditor General, we applied financial condition assessment procedures as of September 30, 2011. It is management's responsibility to monitor the County's financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same. This letter is intended solely for the information and use of management, the County Mayor and Board of County Commissioners of Monroe County, Florida, the Florida Auditor General and applicable state and federal agencies, and is not intended to be and should not be used by anyone other than those specified parties. Orlando, Florida March 31, 2012 J-2