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Fiscal Year 2019 MONROECOUNTY,FLORIDASHERIFF FINANCIALSTATEMENTS As of and for the Year Ended September 30, 2019 And Reports of Independent Auditor MONROE COUNTY, FLORIDA SHERIFF TABLE OF CONTENTS REPORTOFINDEPENDENTAUDITOR ............................................................................................... 1-2 FINANCIALSTATEMENTS Balance Sheet - Governmental Funds.............................................................................................................. 3 Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds ..................................................................................................................................... 4 Statement of Fiduciary Assets and Liabilities - Agency Funds ......................................................................... 5 Notes to Financial Statements .................................................................................................................... 6-15 REQUIREDSUPPLEMENTARYINFORMATION Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - General Fund .............................................................................................................. 16 Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Î Major Special Revenue Funds ............................................................................. 17-23 OTHERSUPPLEMENTARYINFORMATION Combining Statement of General, Trauma Star and Radio Communications Funds by Service Area .................................................................................................... 24 Non-Major Special Revenue Funds Description ............................................................................................. 25 Combining Balance Sheet Î Non-Major Governmental Funds - Special Revenue Funds ........................................................................................................................ 26-28 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Non-Major Governmental Funds Î Special Revenue Funds ................................................................. 29-31 Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Î Non-Major Special Revenue Funds ..................................................................... 32-37 Agency Funds Description .............................................................................................................................. 38 Combining Statement of Changes in Fiduciary Assets and Liabilities - All Agency Funds ......................................................................................................................................... 39 SUPPLEMENTARYREPORTS Report of Independent Auditor on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards ........................................................................................................... 40-41 Independent AuditorÓs Management Letter .............................................................................................. 42-43 Report of Independent Accountant on Compliance with Local Government Investment Policies ................................................................................................................. 44 ReportofIndependentAuditor To the Honorable Rick Ramsay, Sheriff of Monroe County, Florida ReportontheFinancialStatements We have audited the accompanying financial statements of each major fund and the aggregate remaining fund information of the Monroe County, Florida Sheriff (the ÐSheriffÑ) as of and for the year ended September 30, 2019, and the related notes to the financial statements as listed in the table of contents. ağƓğŭĻƒĻƓƷ͸ƭResponsibilityfortheFinancialStatements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of the financial statements that are free from material misstatement, whether due to fraud or error. !ǒķźƷƚƩ͸ƭResponsibility Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditorÓs judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the SheriffÓs preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the SheriffÓs internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Opinions In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of each major fund and the aggregate remaining fund information of the Sheriff as of September 30, 2019, and the respective changes in financial position thereof for the year then ended, in accordance with accounting principles generally accepted in the United States of America. EmphasisofMatter As discussed in Note 1 to the financial statements, the financial statements referred to above were prepared solely for the purpose of complying with Rules of the Auditor General of the state of Florida. In accordance with the Rules, the accompanying financial statements are intended to present the financial position and changes in financial position of each fund of Monroe County, Florida that is attributable to the Sheriff. They do not purport to, and do not, present fairly the financial position of Monroe County, Florida as of September 30, 2019, and the changes in its financial position for the fiscal year then ended in accordance with accounting principles generally accepted in the United States of America. Our opinions are not modified with respect to this matter. OtherMatters RequiredSupplementaryInformation Accounting principles generally accepted in the United States of America require that the Required Supplementary Information as listed in the table of contents be presented to supplement the financial statements. Such information, although not a part of the financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with managementÓs responses to our inquiries, the financial statements, and other knowledge we obtained during our audit of the financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. OtherSupplementaryInformation Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the SheriffÓs basic financial statements. The other supplementary information, as listed in the table of contents, is presented for purposes of additional analysis and is not a required part of the financial statements. The other supplementary information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. Such information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with accounting standards generally accepted in the United States of America. In our opinion, the other supplementary information is fairly stated, in all material respects, in relation to the financial statements as a whole. OtherReportingRequiredby GovernmentAuditingStandards In accordance with Government Auditing Standards, we have also issued our report dated February 13, 2020 on our consideration of the Sheriff's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the SheriffÓs internal control over financial reporting and compliance. Orlando, Florida February 13, 2020 2 FINANCIALSTATEMENTS The accompanying notes to the financial statements are an integral part of this statement. Unassigned - Contract administrationCommitted for: - Grants - Farm program - Inmate welfare program - E-911 programs - Inter-agency communication program - Teen court program - Law enforcement programsRestricted for: - InventoryNon-spendable:FUND BALANCES Liabilities:LIABILITIES SEPTEMBER Deferred Inflows of Resources:ASSETS BALANCE MONROE Unavailable revenuesUnearned revenues3,164Due to others29,302Due to other funds616,291Due to other governmental units122,869Due to Board of County Commissioners2,239,023Accrued wages and benefits payable2,493,766Retainage payable-Accounts payable2,144,230Interest receivableInventoryDue from othersDue from other governmental unitsDue from other fundsDue from Board of County CommissionersInvestmentsCash and cash equivalents resources and fund balancesTotal liabilities, deferred inflows of Total fund balances Total liabilitiesTotal assets AND SHEET COUNTY, 30, FUND 201 9 GOVERNMENTAL BALANCES FLORIDA SHERIFF FUNDS $ $ 87,611 - - - - 87,611 - -$ - $ GeneralTrauma 7,648,6457,648,6452,839,0034,659,165 7,648,645 (19,215) 19,21519,21586,62225,35919,281 --- --------- $ $ $ 7,776 - - - - 7,776 - -$ - 87,61187,61187,611 StarCommunicationsGrantsGrantsForfeitureForfeitureE -- ----------------- $ $ $ 3,324,076 - - 844,168 949,757 24,446 174,818 -$ 1,330,887 Radio 7,7767,7767,776 ------------- ------ $ (2,486,179) (2,486,179) 2,552,158 - - 2,552,158 - - - -$ -$ $ HIDTA 3,324,0763,324,0762,481,350 830,895 11,831 Major ----------- ------ Funds $ 48,679 - - - - - - -$ 48,679$ $ 1,786,1301,720,1511,786,1301,777,487 8,643 ------------ --- $ 199,940 - - 152,823 - - - -$ 47,117$ $ Shared 4,984,1514,935,4724,935,4724,984,1514,758,687 AssetFederal 198,087 26,634 743 ------------ -- $ 97,917 - - 38,370 - 46 22,309 -$ 37,192$ $ 3,887,7163,687,7763,687,7763,887,7163,887,716 ---------------- - $ 345,141 36,329 - 33,566 14,909 231,911 8,532 -$ 19,894$ $ 1,383,107 1,481,0241,383,1071,481,0241,439,208 911GovernmentalTotal 41,816 -------------- -- Non $ (2,505,394) 14,311,943 39,493 29,302 4,237,376 1,087,535 2,590,813 2,699,425 -$ 3,627,999$ $ Major Other 3,007,6792,662,5381,239,8983,007,6791,398,3731,403,285 943,467 398,371150,960 62,11618,68643,08211,979 Funds --------- $ $ $ $ 26,214,80810,182,71426,214,808 12,513,743 1,239,8981,383,1078,623,2481,720,1514,435,1564,237,3764,758,687 943,467 398,371142,278 62,11618,68619,21526,63419,21581,719 - 3 The accompanying notes to the financial statements are an integral part of this statement. Fund balances, end of year Fund balances, beginning of year Excess of revenues over expendituresOther financing sources (uses):Excess of revenues over (under)Expenditures:Revenues:YEAR GOVERNMENTALSTATEMENT MONROE and other financing sourcesTransfer to Board of CountyTransfer to other governmentsTransfers (to)/from other fundsInsurance proceedsexpendituresLoss on investmentsIntergovernmental - BOCC50,935,286 Aid to other governments/non-profitsCapital outlayCurrent:Miscellaneous income309,394Investment income237,201Fines and forfeitures-Charges for services-Intergovernmental - other government units- CommissionersOperating expenses10,846,279Personnel services37,105,762 Total expenditures over expendituresTotal other financing sources (uses)Total revenues51,481,881 ENDED COUNTY, SEPTEMBER OF REVENUES, FUNDS FLORIDA 30, 2019 EXPENDITURES SHERIFF $ 4,237,591 1,405,086 6,058,577 - - - - -$ 6,058,577 AND 50,523,471 GeneralStarCommunicationsGrantsGrantsForfeitureForfeitureE 2,571,430 (958,410)(597,182)(325,008)(141,619) 105,399958,410 CHANGES ----- $ 672,626 122,365 802,767 - - - 66,547 -$ 736,220 TraumaRadioHIDTAAssetFederalOther IN 5,970,966 328,289 (87,611) (87,611) FUND 87,611 ------ -- BALANCES $ 15,504,874 4,087,559 20,904,962 - - - - 20,904,962$ - 794,991 (7,776) (7,776) 7,776 --------- $ (2,486,179) (6,491,420) 200,838 468,694 4,579,765 525,585 - - - 3,979,898$ 74,282 20,904,962 1,312,529 Major ----------- Funds $ 110 - 448,717 - 448,717 - - -$ - 4,005,2413,865,809 139,432713,956 139,432 44,424 ----- $ 124,456 52,639 3,066,606 - 100,055 - - 2,966,551$ - Shared 4,935,4724,637,491 297,981297,981150,736 150,626 ------- $ 220,328 499,110 501,165 - 35,473 - - -$ 465,692 3,687,7763,167,7702,546,600 2,362,505 520,006520,006 7,000 ------ $ 809,342 4,345,702 5,369,613 33,067 45,710 13,726 4,265,632 837,875$ 173,603 1,383,1071,654,450 (271,343)(271,343) 772,508 911GovernmentalGovernmental 53,070 ------- $ 32,616,444 48,086,917 93,214,053 868,046 867,156 13,726 4,332,179 28,689,286$ 58,443,660 Non Funds 2,662,5382,514,3305,187,681 148,208181,932 Major (33,724)(33,471) 23,000 (2,440) 2,187 9,637 -- $ $ 10,182,71487,565,871 Total 5,482,6214,700,0935,648,1826,681,884 (948,089)(695,009)(358,479) 105,399180,626 -- 4 MONROECOUNTY,FLORIDASHERIFF STATEMENTOFFIDUCIARYASSETSANDLIABILITIES AGENCYFUNDS SEPTEMBER30,2019 CivilTotal ProcessBondsInmateAgency ASSETS Cash and cash equivalents$ 5,305$ 41,631709,062$ 755,998$ Due from others - - 5,640 5,640 Total assets$ 5,305$ 709,062$ 47,271$ 761,638 LIABILITIES Accounts payable$ -$ -$ 22,827$ 22,827 Due to Board of County Commissioners 5,305 - - 5,305 Due to individuals - 709,062 24,444 733,506 Total liabilities$ 5,305$ 709,062$ 47,271$ 761,638 The accompanying notes to the financial statements are an integral part of this statement.5 MONROECOUNTY,FLORIDASHERIFF NOTESTOFINANCIALSTATEMENTS SEPTEMBER30,2019 NoteЊΓ{ǒƒƒğƩǤofsignificantaccountingpolicies Reporting entity - The Monroe County, Florida Sheriff (the ÐSheriffÑ) is a separately elected county official established pursuant to the Constitution of the State of Florida. The SheriffÓs financial statements do not purport to reflect the financial position or the results of operations of Monroe County, Florida (the ÐCountyÑ) taken as a whole. The financial statements of the Sheriff have been prepared in accordance with accounting principles and reporting guidelines established by the Governmental Accounting Standards Board (ÐGASBÑ). Entity status for financial reporting purposes is governed by Statement No. 14, as amended. Although the SheriffÓs Office is operationally autonomous from the County, it does not hold sufficient corporate powers of its own to be considered a legally separate entity for financial reporting purposes. Therefore, under GASB guidelines, the Sheriff is reported as a part of the primary government of Monroe County, Florida. Measurement focus, basis of accounting, and financial statement presentation - The Sheriff's financial statements are prepared for the purpose of complying with Section 218.39(2), Florida Statutes and Chapter 10.550, Rules of the Auditor General (the ÐRulesÑ), which requires the Sheriff to only present fund financial statements. The General Fund and Special Revenue Funds are governmental funds that use the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized when measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures as well as expenditures related to compensated absences, and claims and judgments, are recorded only when payment is due. Description of funds - The Sheriff reports the General Fund and Special Revenue Funds as governmental funds and Agency Funds as a fiduciary fund type. The General Fund is used to account for all revenues and expenditures applicable to the general operations of the Sheriff. The Special Revenue Funds account for the proceeds and uses of specific revenue sources that are legally restricted or committed to expenditures for a specific purpose. Agency Funds are used to account for assets held by the Sheriff as agent. Agency funds are custodial in nature and do not involve measurement of results of operations. The Sheriff reports the General Fund and the following seven Special Revenue Funds as major funds: Trauma Star, Radio Communications, HIDTA Grants, Grants, Shared Asset Forfeiture, Federal Forfeiture and E-911. The Trauma Star fund accounts for the revenues and expenditures related to the function of air and ambulance transports. The Radio Communications fund accounts for the revenues and expenditures related to radio communication functions county-wide to include the majority of federal, state and local entities. The HIDTA Grants Fund accounts for the revenues and expenditures related to the ONDCP grants. The Grants Fund accounts for receipts and disbursements related to other various local, state and federal grants. The Shared Asset Forfeiture Fund accumulates stipulated transfers from the Federal Forfeiture Fund and its investment income is used to fund awards to non-profit organizations, as determined by an advisory board. The Federal Forfeiture Fund accounts for revenues from the U.S. Departments of Justice and Treasury. Expenditures are made in accordance with the guidelines issued by these agencies. The E-911 Fund accounts for fees levied on each telephone access line in Monroe County for the enhancement of the 911 emergency telephone systems. 6 MONROECOUNTY,FLORIDASHERIFF NOTESTOFINANCIALSTATEMENTS SEPTEMBER30,2019 NoteЊΓ{ǒƒƒğƩǤofsignificantaccountingpolicies(continued) Transfers - The Sheriff transfers funds to administer certain Special Revenue Fund programs. In addition, the extent to which General Fund, Trauma Star, Radio Communications and the State Forfeiture Fund revenues exceed expenditures is reflected as transfers out and as liabilities to the Board of County Commissioners. Fund balance presentation - In accordance with GASB Statement No. 54, the fund balances of the governmental funds are classified as restricted or committed. This classification includes 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. Non-Spendable - Include amounts that cannot be sent because they are either not in spendable form, or for legal or contractual reasons, must be kept intact. This classification includes inventory. Unassigned - The residual classification of the General Fund. Only the General Fund reports a positive unassigned fund balance. Other governmental funds might report a negative balance in this classification, as the result of overspending for specific purposes for which amounts had been restricted, committed, or assigned. Unassigned fund balance dos not necessarily represent the amount of fund balance that can be appropriated. Budgetary requirements - General fund expenditures are controlled by appropriations in accordance with the budget requirements set forth in the Florida Statutes. Budgets are administered for all funds and are prepared on a basis consistent with accounting principles generally accepted in the United States of America. Cash and cash equivalents and investments - Highly liquid investments with maturities of 90 days or less when purchased are considered cash equivalents. Included are investments in the State Board of Administration Local Surplus Funds Investment Pool Trust Fund (ÐSBAÑ), which consists of the Florida PRIME investment pool, a qualifying fund that operates essentially as a money market fund, and municipal bonds. Florida PRIME is stated at amortized cost, which is substantially the same as fair value, and municipal bonds are stated at fair value based on level 2 of the fair value hierarchy, using quoted prices for similar assets in active markets or identical or similar assets in inactive markets. Receivables - All receivables are shown net of an allowance for uncollectibles. Historical collection experience is used to estimate the accounts receivable allowance. The complete balance in the Inmate Fund is deemed uncollectible in the amount of $275,741 at September 30, 2019. Capital assets - Capital assets are recorded as expenditures in the General Fund or the Special Revenue Funds at the time of purchase and are capitalized at historical cost in the government-wide financial statements of the County. Gifts or contributions and seized property are recorded first in the SheriffÓs financial statements as well as in the government-wide financial statements at fair market value at the time received. In addition, the Board of County Commissioners provides at no cost the office space and certain other expenditure items used in the Sheriff's operations. It is the policy of the Sheriff to capitalize all assets costing more than $1,000 with an estimated useful life of two or more years. The cost of normal maintenance and repairs that do not add to the value of the asset or materially extend asset lives are not capitalized. 7 MONROECOUNTY,FLORIDASHERIFF NOTESTOFINANCIALSTATEMENTS SEPTEMBER30,2019 NoteЊΓ{ǒƒƒğƩǤofsignificantaccountingpolicies(continued) Capital assets are depreciated using the straight-line method over the following estimated useful lives: Years Buildings and infrastructure 10-50 Machinery and equipment 5-10 Compensated absences - The Sheriff permits employees to accumulate earned but unused vacation and sick pay benefits. The Sheriff is not legally required to and does not accumulate expendable available financial resources to liquidate this obligation. The obligation is accrued in the government-wide financial statements of the County. Use of estimates - The preparation of financial statements requires management to make use of estimates that affect reported amounts. Actual results could differ from estimates. NoteЋΓ5ĻƦƚƭźƷƭandinvestments Cash and cash equivalents at September 30, 2019 consist of the following: TypeFairValue Demand deposits$ 13,269,741 Municipal Bonds 4,758,687 $ 18,028,428 Deposits - Cash and cash equivalents consist of demand deposits insured by the Federal Deposit Insurance Corporation (FDIC) or covered by the State of Florida collateral pool, a multiple financial institution pool with the ability to assess its members for collateral shortfalls if a member institution fails. Investments - Florida Statutes and the SheriffÓs investment policy authorize investments in certificates of deposit, savings accounts, repurchase agreements, the Local Government Surplus Funds Trust Fund administered by the Florida State Board of Administration, money market funds, direct obligations of the U.S. Treasury, federal agencies and instrumentalities, rated or unrated bonds, notes or instruments, securities of or interests in any investment company or investment trust, commercial paper and Municipal Securities. As of September 30, 2019, the Sheriff had $165,374 invested in the SBA and $4,758,687 in Municipal Bonds, which was 28.5% of the SheriffÓs total cash and cash equivalents and investments. Of the $165,374 invested in the SBA, 100% is invested in Florida PRIME. The Municipal Bonds are rated by Standard and PoorÓs from AA- through AAA and the ratings on the Municipal Bonds from MoodyÓs are rated from AA2 through AAA. Florida PRIME is rated by Standard and PoorÓs. The current rating is AAAm. The weighted average days to maturity (ÐWAMÑ) of the Florida PRIME at September 30, 2019 is 37 days. Next interest rate reset days for floating rate securities are used in the calculation of the WAM. The weighted average life (WAL) of Florida Prime at September 30, 2019, is 85 days. Demand deposits in the 911 Wireless Fund in the amount of $1,439,208 include restricted cash of $1,342,169. This amount of cash is in a separate account according to Statute. The County must use the funds only for capital expenditures directly attributable to establishing and provisioning E-911 services, which may include next generation deployment. 8 MONROECOUNTY,FLORIDASHERIFF NOTESTOFINANCIALSTATEMENTS SEPTEMBER30,2019 NoteЌΓLƓƷĻƩŅǒƓķreceivablesandpayables Interfund receivables and payables at September 30, 2019 consist of the following: DueFromDueto OtherFundsOtherFunds General$ 2,839,003$ 616,291 HIDTA 844,168- Grants 2,552,158- Federal forfeiture- 152,823 E-911 38,370- Other governmental 1,398,373 33,566 $ 4,237,376$ 4,237,376 NoteЍΓ/ğƦźƷğƌassets A summary of changes in the SheriffÓs capital assets, presented in the government-wide financial statements of the County, is as follows: BalanceBalance 10/01/201809/30/2019 AdditionsDeductions Capital assets not depreciated: Construction in progress683,181$ 27,250$ 683,181$ 27,250$ Total capital assets not depreciated-$ 27,250$ -$ 27,250$ Capital assets depreciated: Buildings and improvements2,797,684$ 3,653,496$ 1,580,894$ 4,870,286$ Equipment52,514,441 3,686,818 - 56,201,259 Total capital assets depreciated55,312,125$ 7,340,314$ 1,580,894$ 61,071,545$ Accumulated depreciation30,851,056$ 3,496,375$ 1,359,533$ 32,987,897$ NoteЎΓ\[ƚƓŭtermdebt The Sheriff permits employees to accumulate earned but unused vacation and sick pay benefits. The Sheriff is not legally required to and does not accumulate expendable available financial resources to liquidate this obligation. The obligation for compensated absences is accrued in the government-wide financial statements of the County. A summary of activity for the SheriffÓs compensated absences obligation is as follows: Long-term debt, beginning of year$ 8,085,063 Additions 3,600,676 Reductions (3,685,861) Long-term debt, end of year$ 7,999,878 9 MONROECOUNTY,FLORIDASHERIFF NOTESTOFINANCIALSTATEMENTS SEPTEMBER30,2019 NoteЏΓCǒƓķbalances In the governmental fund financial statements, fund balance is composed of two classifications designed to disclose the hierarchy of constraints placed on how fund balance can be spent. The governmental fund types classify fund balances as follows: Restricted Fund Balance - This classification includes revenue sources that are restricted to specific purposes externally imposed by creditors or imposed by law. Grants Fund is restricted for Federal Emergency Management Agency funding which has been expended but not yet received which has specific eligibility requirements. Shared Asset Forfeiture Fund is restricted upon Ordinance 030-2000 which specifies use must be for law enforcement crime prevention, drug and alcohol abuse prevention and treatment, mental and physical health of minors and adults, and cultural, artistic, educational, recreational and sports programs for Monroe County youth. Federal Forfeiture Fund is restricted for law enforcement purposes based upon the Federal Justice and Treasury Guide to Equitable Sharing which outlines the specific uses of these funds. E-911 Fund is restricted based upon the E-911 costs allowable by State Statute \[F.S. 365\]. Teen Court is restricted by State Statute \[F.S. 938.19\]. Commissary Fund is restricted for Inmate and Farm as outlined by State Statute \[F.S. 951.23(9)\]. Inter-Agency Communications Fund is restricted by State Statute \[318.21(9)\]. Committed Fund Balance - Portion of fund balance that can only be used for specific purpose imposed by the Sheriff (highest level of decision-making authority). Any changes or removal of specific purposes requires action by the Sheriff. Contract Administrative Fund is committed for the administration of contracts between the Sheriff and third parties. 10 MONROECOUNTY,FLORIDASHERIFF NOTESTOFINANCIALSTATEMENTS SEPTEMBER30,2019 NoteАΓwĻƷźƩĻƒĻƓƷplans Plan description Î The SheriffÓs employees participate in the Florida Retirement System (FRS). As provided by Chapters 121 and 112, Florida Statutes, the FRS provides two cost sharing, multiple employer defined benefit plans administered by the Florida Department of Management Services, Division of Retirement, including the FRS Pension Plan (ÐPension PlanÑ) and the Retiree Health Insurance Subsidy (ÐHIS PlanÑ). Under Section 121.4501, Florida Statutes, the FRS also provides a defined contribution plan (ÐInvestment PlanÑ) alternative to the FRS Pension Plan, which is administered by the State Board of Administration. As a general rule, membership in the FRS is compulsory for all employees working in a regularly established position for a state agency, county government, district school board, state university, community college, or a participating city or special district within the State of Florida. The FRS provides retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. Benefits are established by Chapter 121, Florida Statutes, and Chapter 60S, Florida Administrative Code. Amendments to the law can be made only by an act of the Florida Legislature. Benefits under the Pension Plan are computed on the basis of age, average final compensation, and service credit. For Pension Plan members enrolled before July 1, 2011, Regular class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 1.6% of their final average compensation based on the five highest years of salary for each year of credited service. Vested members with less than 30 years of service may retire before age 62 and receive reduced retirement benefits. Senior Management Service class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 2.0% of their final average compensation based on the five highest years of salary for each year of credited service. Elected OfficersÓ class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 3.0% of their final average compensation based on the five highest years of salary for each year of credited service. Special Risk Administrative Support class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 3.0% of their final average compensation based on the five highest years of salary for each year of credited service. Special Risk class members (sworn law enforcement officers, firefighters, and correctional officers) who retire at or after age 55 with six years of credited service, or with 25 years of service regardless of age are entitled to a retirement benefit payable monthly for life equal to 3% of their final average compensation based on the five highest years of salary for each year of credited service. Substantial changes were made to the Pension Plan during fiscal year 2011 affecting members enrolled on or after July 1, 2011 by extending the vesting requirement for Regular, Senior Management Service, Elected OfficersÓ and Special Risk Administrative Support class members to eight years of credited service and increasing normal retirement to age 65 with at least eight years of credited service or 33 years of service regardless of age. The vesting requirement for Special Risk class members was extended to eight years of credited service and increasing normal retirement to age 60 with at least eight years of credited service or 30 years of service regardless of ageor age 57 with 30 years of combined Special Risk Class service and military service. Also, the final average compensation of these members will be based on the eight highest years of salary. A post-employment health insurance subsidy is also provided to eligible retired members through the FRS in accordance with Florida Statutes. The HIS Plan provides a monthly benefit to assist retirees in paying their health insurance costs and is administered by the Florida Department of Management Services, Division of Retirement. Eligible retirees and of $5 for each year of creditable service, with beneficiaries receive a monthly health insurance subsidy payment a minimum payment of $30 and a maximum payment of $150 per month. The HIS Plan is funded by required contributions from FRS participating employees as set forth by the Florida Legislature, based on a percentage of gross compensation for all active FRS members. 11 MONROECOUNTY,FLORIDASHERIFF NOTESTOFINANCIALSTATEMENTS SEPTEMBER30,2019 NoteАΓwĻƷźƩĻƒĻƓƷplans(continued) In addition to the above benefits, the FRS administers a Deferred Retirement Option Program (DROP). This program allows eligible members to defer receipt of monthly retirement benefit payments while continuing employment with a FRS employer for a period not to exceed 60 months after electing to participate. Deferred monthly benefits are held in the FRS Trust Fund and accrue interest. There are no required contributions by DROP participants. For those members who elect participation in the Investment Plan, rather than the Pension Plan, vesting occurs at one year of service. These participants receive a contribution for self-direction in an investment product with a third party administrator selected by the State Board of Administration. Employer and employee contributions, including amounts contributed to individual memberÓs accounts, are defined by law, but the ultimate benefit depends in part on the performance of investment funds. Benefit terms, including contribution requirements, for the Investment Plan are established and may be amended by the Florida Legislature. The Investment Plan is funded with the same employer and employee contribution rates that are based on salary and membership class (Regular Class, Elected County Officers, etc.), as the FRS defined benefit plan. Contributions are directed to individual member accounts, and the individual members allocate contributions and account balances among various approved investment choices. Costs of administering the plan, including the FRS Financial Guidance Program, are funded through an employer contribution of 0.04 percent of payroll and by forfeited benefits of plan members. The Monroe County SheriffÓs Office recognizes pension expenditures in an amount equal to amounts paid to the Pension Plan, the defined contribution plan and the HIS Plan, amounting to $5,437,835, $1,172,594 and $351,998, respectively, for the fiscal year ended September 30, 2019. The Monroe County SheriffÓs Office payments for the Pension Plan and the HIS Plan after June 30, 2019, the measurement date used to determine the net pension liability associated with the Pension Plan and HIS Plan, amounted to $1,251,478 and $149,506, respectively. The Sheriff is not legally required to and does not accumulate expendable available resources to liquidate the retirement obligation related to its employees. Accordingly, the net pension liability and associated deferred outflows and deferred inflows are presented on the government-wide financial statements of the County, following requirements of GASB Statement No. 68, Accounting and Financial Reporting for Pensions Î an amendment of GASB Statement No. 27, and GASB Statement No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date Î an amendment of GASB Statement No. 68. Funding policy - All enrolled members of the FRS other than Deferred Retirement Option Program (DROP) participants are required to contribute 3% of their salary to the FRS. In addition to member contributions, governmental employers are required to make contributions to the FRS based on state-wide contribution rates. The employer contribution rates by job class for the periods from October 1, 2018 through June 30, 2019 and July 1, 2019 through September 30, 2019, respectively, were as follows: regular members 8.26% and 8.47%, special risk Î 24.50% and 25.48%, special risk administrative support Î 34.98% and 38.59%, senior management Î 24.06% and 25.41% and, county elected officers Î 48.70% and 48.82%. During the fiscal year ended September 30, 2019, the Monroe County SheriffÓs Office contributed to the plan an amount equal to 21.93% of covered payroll. The state of Florida annually issues a publicly available financial report that includes financial statements and rt may be obtained by writing to the required supplementary information for the FRS. The latest available repo State of Florida Division of Retirement, Department of Management Services, P.O. Box 9000, Tallahassee, Florida 32315-9000, or from the website www.dms.myflorida.com/workforce_operations/retirement/publications. 12 MONROECOUNTY,FLORIDASHERIFF NOTESTOFINANCIALSTATEMENTS SEPTEMBER30,2019 NoteАΓwĻƷźƩĻƒĻƓƷplans(continued) Monroe County SheriffÓs office offers 457 Deferred Compensation Programs to all employees of the agency. Employees may participate in the plan through payroll deductions and the plan is funded by Mass Mutual Financial Group and AIG Valic group variable annuity contract. Contributions are invested at the employeeÓs direction through the options available under the program. Employees are fully vested at time of enrollment. The Monroe County SheriffÓs Office has no liability beyond the payment of bi-weekly payroll contributions. Monroe County SheriffÓs office also offers a profit-sharing pension plan known as the 401(a) Discretionary Contribution Pension Plan. Only full-time employees of the SheriffÓs office classified as Telecommunications Officer, Telecommunications Supervisor, or Telecommunications Director are covered under the pension program established. Effective July 20, 2009, new hired employees will be exempt from the Plan. Those classes of employees are eligible to participate in the program on the first day of the 12-consecutive month period commencing on October 1. The plan allows the agency to contribute ongoing non-elective contributions to each eligible employeeÓs account. The routine amount contributed to each employees account is the variance between FRSÓs special risk retirement rate and the rate given to the FRS class-group that the DispatcherÓs fall into. The Sheriff contributed $14,256 for the year ended September 30, 2019 and there were no employee contributions. NoteБΓhƷŷĻƩpostemploymentbenefits(OPEB)Plan In addition to the retirement plan benefits described in Note 7, the Sheriff offers to its employees a single- employer defined benefit healthcare plan, which is administered by the Board. Florida Statute 112.0801 requires the County to provide retirees and their eligible dependents with the option to participate in the OPEB Plan if the County provides health insurance to its active employees and their eligible dependents. The OPEB Plan provides medical coverage, prescription drug benefits, and life insurance to both active and eligible retired employees. The OPEB Plan does not issue a publicly available financial report. No assets are accumulated in a trust that meets the criteria as set forth in GASB Statement 75, Accounting and Financial Reporting for Postemployment Benefit Plans Other Than Pensions. The Board may amend the OPEB Plan design, with changes to the benefits, premiums and/or levels of participant contribution at any time. On at least an annual basis, in an open session, and prior to the annual enrollment process, the Board approves the rates for the coming calendar year for the retiree and County contributions. Eligibility for postemployment participation in the OPEB Plan is limited to full-time employees of the County, and the Constitutional Officers. An employee who retires as an active participant in the OPEB Plan and was hired on or after October 1, 2001 may continue to participate in the OPEB Plan by paying the monthly premium established annually by the Board. An employee who retires as an active participant in the plan, was hired prior to October 1, 2001, has at least ten years of full-time service with the County, and meets the retirement criteria of the FRS but is not eligible for Medicare, may maintain group health insurance benefits with Monroe County following retirement, provided the retiring employee contributes the amounts shown in the table below. 13 MONROECOUNTY,FLORIDASHERIFF NOTESTOFINANCIALSTATEMENTS SEPTEMBER30,2019 NoteБΓhƷŷĻƩpostemploymentbenefits(OPEB)Plan(continued) Contribution as Percentage of Annual Actuarial Rate Plan Years of Service with Monroe County Year 25+ 20-24 10-19 (1) 2019 HIS 17% 18% 2019 HIS 18% 26% 2020 HIS 20% 34% 2021 HIS 22% 42% 2022 HIS 25% 50% (1) HIS is the State of FloridaÓs Health Insurance Subsidy plan that assists retirees in paying the cost of health insurance as explained in Note 5. 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 retireeÓs cost of participation will be based on the preceding table. Surviving spouses and dependents of participating retirees may continue in the plan if eligibility criteria specific to those classes are met. An employee who retires as an active participant in the plan, was hired prior to October 1, 2001, has at least ten years of full-time service with the County, and meets the retirement criteria of the FRS and is eligible for Medicare at the time of retirement or becomes eligible for Medicare following retirement, may maintain group health insurance benefits with Monroe County following retirement, provided the retiring employee contributes the Actuarial Rate for Medicare retirees as determined by the actuarial firm engaged by the County, less a $250 per month County subsidy. Alternatively, retirees meeting these criteria may elect to leave the County health plan and receive a $250 per month payment from the County, payable for the lifetime of the retiree. The Board engages an actuarial firm on a biannual basis to determine the CountyÓs accrued net OPEB liability. The Sheriff has no responsibility to the OPEB Plan other than to make the periodic payments determined by the Board, which are presented as expenditures when made and amounted to $1,619,628.00 for the year ended September 30, 2019. Further information about the OPEB Plan is available in the CountyÓs CAFR which is published on the ClerkÒs website at www.clerk-of-the-court.com. NoteВΓwźƭƉmanagement The Sheriff is exposed to various risks of loss related to tort; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. The Sheriff participates in the coverage provided by the Board for WorkersÓ Compensation, Group Insurance, and Risk Management Internal Service Funds. Under these programs, Workers' Compensation provides $500,000 coverage per claim for regular employees. WorkersÓ Compensation claims in excess of the self-insured coverage are covered by an excess insurance policy. Risk Management has a $5,000,000 excess insurance policy for general liability claims with a $200,000 self-insured retention, and building property damage is covered for the actual value of the building with a deductible of $50,000. Deductibles for windstorm and flood vary by location. Monroe County purchases commercial insurance for claims in excess of coverage provided by the funds and for all other risks of loss. Settled claims have not exceeded this commercial coverage in any of the past three years. The Sheriff makes payments to the Workers' Compensation, Group Insurance and Risk Management Funds based on estimates of the amounts needed to pay prior and current year claims. 14 MONROECOUNTY,FLORIDASHERIFF NOTESTOFINANCIALSTATEMENTS SEPTEMBER30,2019 NoteЊЉΓ\[źƷźŭğƷźƚƓ From time to time, the Sheriff is a party to various lawsuits and claims, which it vigorously defends. Such matters arise out of the normal course of its operation, some of which are covered by insurance policies or by the SheriffÓs participation in the Florida SheriffÓs Self-Insurance Fund. While the results of litigation cannot be predicted with certainty, management believes the final outcome of such litigation will not have a material adverse effect on the SheriffÓs financial position. NoteЊЊΓ\[ĻğƭĻcommitments Operating leases - The Sheriff leases office space, equipment and vehicles under operating lease agreements. These lease agreements include options to extend the leases for additional terms as well as cancellation provisions. Total lease payments made during the fiscal year ended September 30, 2019 were $5,340,223. The following is a schedule by years of minimum future rentals under operating leases as of September 30, 2019: Year Ending September 30, 2019 2020 $ 5,099,359 2021 4,921,883 2022 4,060,235 2023 3,677,448 2024 3,476,403 2025-2028 3,195,624 $24,430,952 For those leases that are increased annually by the Consumer Price Index (CPI) and the lease agreement does not state a minimum or maximum rate for the remainder of the lease term, the same known lease expense is used for the remainder of the lease term in the future rental schedule above. NoteЊЋΓDƩğƓƷƭ The Sheriff is the recipient of grants that are subject to special compliance requirements and audits by the grantor agencies that may result in disallowed expense amounts. These amounts constitute a contingent liability of the Sheriff. The Sheriff does not believe any contingent liabilities to be material to the financial statements. 15 REQUIREDSUPPLEMENTARYINFORMATION MONROECOUNTY,FLORIDASHERIFF SCHEDULEOFREVENUES,EXPENDITURESANDCHANGESINFUNDBALANCES BUDGETANDACTUALGENERALFUND YEARENDEDSEPTEMBER30,2019 Variance WithFinal OriginalFinalPositive BudgetBudgetActual(Negative) Revenues: Intergovernmental - BOCC50,029,696$ 50,935,286$ 50,935,286$ -$ Investment income - - 237,201 237,201 Miscellaneous income - 5,000 309,394 304,394 Total revenues 50,029,696 50,940,286 51,481,881 541,595 Expenditures: Current: Personnel services 39,008,424 37,154,424 37,105,762 48,662 Operating expenses 10,001,901 10,869,016 10,846,279 22,737 Capital outlay 919,371 2,614,170 2,571,430 42,740 Total expenditures 49,929,696 50,637,610 50,523,471 114,139 Excess of revenues over (under) expenditures 100,000 302,676 958,410 655,734 Other financing sources (uses): Insurance proceeds - 77,324 105,399 28,075 Transfer (to)/from Board of County Commissioners - - (597,182) (597,182) Transfer (to)/from other governments - (150,000) (325,008) (175,008) Transfers (to)/from other funds (100,000) (230,000) (141,619) 88,381 Total other financing sources (uses) (100,000) (302,676) (958,410) (655,734) Excess of revenues over expenditures and other financing sources (uses) - - - - Fund balances, beginning of year - - - - Fund balances, end of year$ -$ -$ -$ - 16 MONROECOUNTY,FLORIDASHERIFF SCHEDULEOFREVENUES,EXPENDITURESANDCHANGESINFUNDBALANCES BUDGETANDACTUALTRAUMASTAR YEARENDEDSEPTEMBER30,2019 Variance WithFinal OriginalFinalPositive BudgetBudgetActual(Negative) Revenues: Intergovernmental - BOCC$ 4,488,692$ 6,058,577$ 6,058,577$ - Total revenues 4,488,692 6,058,577 6,058,577 - Expenditures: Current: Personnel services 1,475,618 1,410,618 1,405,086 5,532 Operating expense 2,998,074 4,313,074 4,237,591 75,483 Capital outlay 15,000 334,885 328,289 6,596 Total expenditures 4,488,692 6,058,577 5,970,966 87,611 Excess of revenues over (under) expenditures - - 87,611 87,611 Other financing sources (uses): Transfer (to)/from Board of County Commissioners - - (87,611) (87,611) Total other financing sources (uses) - - (87,611) (87,611) Excess of revenues over expenditures and other financing sources (uses) - - - - Fund balances, beginning of year - - - - Fund balances, end of year$ -$ -$ -$ - 17 MONROECOUNTY,FLORIDASHERIFF SCHEDULEOFREVENUES,EXPENDITURESANDCHANGESINFUNDBALANCES BUDGETANDACTUALRADIOCOMMUNICATIONS YEARENDEDSEPTEMBER30,2019 Variance WithFinal OriginalFinalPositive BudgetBudgetActual(Negative) Revenues: Intergovernmental - BOCC636,767$ 802,767$ 736,220$ (66,547)$ Charges for services - - 66,547 66,547 Total revenues 636,767 802,767 802,767 - Expenditures: Current: Personnel services 175,739 123,739 122,365 1,374 Operating expense 453,028 678,028 672,626 5,402 Capital outlay 8,000 1,000 - 1,000 Total expenditures 636,767 802,767 794,991 7,776 Excess of revenues over (under) expenditures - - 7,776 7,776 Other financing sources (uses): Transfer (to)/from Board of County Commissioners - - (7,776) (7,776) Total other financing sources (uses) - - (7,776) (7,776) Excess of revenues over expenditures and other financing sources (uses) - - - - Fund balances, beginning of year - - - - Fund balances, end of year$ -$ -$ -$ - 18 MONROECOUNTY,FLORIDASHERIFF SCHEDULEOFREVENUES,EXPENDITURESANDCHANGESINFUNDBALANCES BUDGETANDACTUALHIDTAGRANTSFUND YEARENDEDSEPTEMBER30,2019 Variance WithFinal OriginalFinalPositive BudgetBudgetActual(Negative) Revenues: Intergovernmental - other government units$ 21,360,001$ 20,975,000$ 20,904,962$ (70,038) Total revenues 21,360,001 20,975,000 20,904,962 (70,038) Expenditures: Current: Personnel services 4,110,000 4,100,000 4,087,559 12,441 Operating expenses 16,410,000 15,525,000 15,504,874 20,126 Capital outlay 811,400 1,350,000 1,312,529 37,471 Total expenditures 21,331,400 20,975,000 20,904,962 70,038 Excess of revenues over (under) expenditures 28,601 - - - Other financing sources: Transfers (to)/from other funds (28,601) - - - Transfer (to)/from other governments - - - - Total other financing sources (28,601) - - - Excess of revenues and other financing sources over expenditures - - - - Fund balances, beginning of year - - - - Fund balances, end of year $ -$ -$ -$ - 19 MONROECOUNTY,FLORIDASHERIFF SCHEDULEOFREVENUES,EXPENDITURESANDCHANGESINFUNDBALANCES BUDGETANDACTUALGRANTSFUND YEARENDEDSEPTEMBER30,2019 . Variance WithFinal OriginalFinalPositive BudgetBudgetActual(Negative) Revenues: Intergovernmental - BOCC-$ -$ 74,282$ 74,282$ Intergovernmental - other government units650,000 4,750,000 3,979,898 (770,102) Miscellaneous - - 525,585 525,585 Total revenues 650,000 4,750,000 4,579,765 (170,235) Expenditures: Current: Personnel services 600,000 475,000 468,694 6,306 Operating expenses - 225,000 200,838 24,162 Capital outlay 115,000 45,000 44,424 576 Total expenditures 715,000 745,000 713,956 31,044 Excess of revenues over (under) expenditures (65,000) 4,005,000 3,865,809 (139,191) Other financing sources: Insurance proceeds - - - - Transfers (to)/from other funds - - 139,432 139,432 Total other financing sources - - 139,432 139,432 Excess of revenues over expenditures and other financing sources (uses) - - 4,005,241 4,005,241 Fund balances, beginning of year - - (6,491,420) (6,491,420) Fund balances, end of year $ -$ -$ (2,486,179)$ (2,486,179) 20 MONROECOUNTY,FLORIDASHERIFF SCHEDULEOFREVENUES,EXPENDITURESANDCHANGESINFUNDBALANCES BUDGETANDACTUALSHAREDASSETFORFEITUREFUND YEARENDEDSEPTEMBER30,2019 Variance WithFinal OriginalFinalPositive BudgetBudgetActual(Negative) Revenues: Investment income$ 120,000$ 450,000$ 448,717$ 1,283 Total revenues 120,000 450,000 448,717 1,283 Expenditures: Current: Personnel services 250 - - - Operating expenses 500 200 110 90 Aid to other governments/non-profits 195,000 151,000 150,626 374 Loss on investments - - - - Total expenditures 195,750 151,200 150,736 464 Excess of revenues over (under) expenditures 298,800(75,750) 297,981 819 Fund balances, beginning of year 4,637,491 4,637,491 4,637,491 - Fund balances, end of year$ 4,561,741$ 4,936,291$ 4,935,472$ 819 21 MONROECOUNTY,FLORIDASHERIFF SCHEDULEOFREVENUES,EXPENDITURESANDCHANGESINFUNDBALANCES BUDGETANDACTUALFEDERALFORFEITUREFUND YEARENDEDSEPTEMBER30,2019 Variance WithFinal OriginalFinalPositive BudgetBudgetActual(Negative) Revenues: Intergovernmental - other government units$ -$ -$ 2,966,551$ 2,966,551 Investment income - - 100,055 100,055 Total revenues - - 3,066,606 3,066,606 Expenditures: Current: Personnel services 50,000 55,000 52,639 2,361 Operating expenses 10,000 135,000 124,456 10,544 Capital expenses 2,500,000 2,400,000 2,362,505 37,495 Aid to other governments/non-profits - 7,000 7,000 - Total expenditures 2,560,000 2,597,000 2,546,600 50,400 Excess of revenues over (under) expenditures (2,560,000) (2,597,000) 520,006 3,117,006 Fund balances, beginning of year 3,167,770 3,167,770 3,167,770 - Fund balances, end of year $ 607,770$ 570,770$ 3,687,776$ 3,117,006 22 MONROECOUNTY,FLORIDASHERIFF SCHEDULEOFREVENUES,EXPENDITURESANDCHANGESINFUNDBALANCES BUDGETANDACTUALE911 YEARENDEDSEPTEMBER30,2019 Variance WithFinal OriginalFinalPositive BudgetBudgetActual(Negative) Revenues: Intergovernmental - BOCC$ 520,000$ 485,000$ 465,692$ (19,308) Investment income 20,000 20,000 35,473 15,473 Total revenues 540,000 505,000 501,165 (3,835) Expenditures: Current: Personnel services 460,000 510,000 499,110 10,890 Operating expense 210,000 225,000 220,328 4,672 Capital outlay 4,000 58,000 53,070 4,930 Total expenditures 674,000 793,000 772,508 20,492 Excess of revenues over (under) expenditures (134,000) (288,000) (271,343) 16,657 Fund balances, beginning of year 1,654,450 1,654,450 1,654,450 - Fund balances, end of year $ 1,520,450$ 1,366,450$ 1,383,107$ 16,657 23 OTHERSUPPLEMENTARYINFORMATION Other financing sources (uses):Excess of revenues over (under) expenditures- Fund balances, end of yearFund balances, beginning of year and other financing sources (uses) Excess of revenues over (under) expenditures Current:Expenditures:Revenues:YEAR COMBINING MONROE Insurance proceeds- Total other financing sources (uses)Transfer (to)/from other fundsTransfer (to)/from other governmentsTransfer (to)/from Board of County CommissionersCapital Outlay120,515 Operating expenses107,563 Personnel services1,590,361Miscellaneous income-Investment income-Charges for services-Intergovernmental - BOCC1,818,439 Total expenditures1,818,439Total revenues1,818,439 ENDED COUNTY, SEPTEMBER STATEMENT FLORIDA 30, 2019 OF GENERAL, SHERIFF TRAUMA $ - 116,057 (116,057) (116,057) 1,461,347 102,530 160,243 1,198,574 1,577,404 - - -$ 1,577,404 IslamoradaMarathonUnincorporatedGeneralGeneralTrauma STAR AND - ------ RADIO $ - 502,092 3,585,411 272,161 369,765 2,943,485 4,087,503 - - -$ 4,087,503 COMMUNICATIONS ---- - General 105,399 340,261 43,658,274 $ 2,076,224 10,208,708 31,373,342 43,998,535 309,394 237,201 -$ 43,451,940 (502,092) (502,092) ----- FUNDS 105,399 958,410 50,523,471 $ 2,571,430 10,846,279 37,105,762 51,481,881 309,394 237,201 -$ 50,935,286 (340,261)(141,619)(208,951) (95,090) BY --- SERVICE $ - 87,611 5,970,966 328,289 4,237,591 1,405,086 6,058,577 - - -$ 6,058,577 Total (958,410)(141,619)(325,008)(597,182) AREA --- - 7,776 794,991 $ - 672,626 122,365 802,767 - - 66,547$ 736,220 (87,611)(87,611) StarCommunicationsTotal ----- $ 1,053,797 57,289,428 2,899,719 15,756,496 38,633,213 58,343,225 309,394 237,201 66,547$ 57,730,083 Radio (7,776)(7,776) ----- $ $ (1,053,797) (141,619)(325,008) (692,569) 105,399 --- 24 MONROECOUNTY,FLORIDASHERIFF NONMAJORSPECIALREVENUEFUNDSDESCRIPTION The purpose of each non-major special revenue fund in the combining balance sheet and combining statement of revenues, expenditures and changes in fund balances is described below. Teen Court Fund - This fund accounts for receipts and disbursements pertaining to a program designed to deter juveniles who are becoming involved in crime. Law Enforcement Trust Fund - This fund accounts for expenditures to non-profit organizations to help deter drug use and juvenile delinquency. State Fine and Forfeiture (State Forfeiture) - This fund accounts for the proceeds received primarily from seizures and forfeitures. Contract Administrative Fund - This fund accounts for the administration of contracts between the Sheriff and third parties. Commissary Fund - This fund accounts for receipts and disbursements of inmate telephone commissions, canteen revenues and other inmate programs. Inter-Agency Communications Fund - This fund accounts for revenues and expenditures allocated for radio communications. 25 MONROECOUNTY,FLORIDASHERIFF COMBININGBALANCESHEETNONMAJORGOVERNMENTALFUNDS SPECIALREVENUEFUNDS SEPTEMBER30,2019 Law Enforcement TeenCourtTrustFund ASSETS Cash and cash equivalents$ 89-$ Due from Board of County Commissioners - - Due from other funds 14,826 - Due from governmental units 3,860 - Due from others - - Total assets $ 18,686$ 89 LIABILITIESANDFUNDBALANCES Liabilities: Accounts payable $ --$ Accrued wages and benefits payable- - Due to Board of County Commissioners -- Due to other governmental units -- Due to other funds 89- Due to others - - Unearned revenues - - Total liabilities - 89 Deferred Inflows of Resources: Unavailable revenues - - Fund balances, restricted: Teen court program 18,686 - Inter-agency communication program - - Inmate welfare program - - Farm program - - Fund balances, committed: Contract administration - - Total fund balances 18,686 - Total liabilities, deferred inflows of resources and fund balances$ 18,686$ 89 26 MONROECOUNTY,FLORIDASHERIFF COMBININGBALANCESHEETNONMAJORGOVERNMENTALFUNDS SPECIALREVENUEFUNDS SEPTEMBER30,2019 StateContract ForfeitureAdministrativeCommissary ASSETS Cash and cash equivalents $ -2,956$ 1,011,437$ Due from Board of County Commissioners - - - Due from other funds 89 1,383,458 - Due from governmental units - 147,000 - Due from others - - 35,972 Total assets $ 3,045$ 1,530,458$ 1,047,409 LIABILITIESANDFUNDBALANCES Liabilities: Accounts payable $ -605$ 9,668$ Accrued wages and benefits payable- - 8,532 Due to Board of County Commissioners 229,4712,440 - Due to other governmental units 2,409- 12,500 Due to other funds 22,351- 11,126 Due to others - - - Unearned revenues - 36,329 - Total liabilities 3,045 290,560 41,826 Deferred Inflows of Resources: Unavailable revenues - - - Fund balances, restricted: Teen court program - - - Inter-agency communication program - - - Inmate welfare program - - 943,467 Farm program - - 62,116 Fund balances, committed: Contract administration - 1,239,898 - Total fund balances - 1,239,898 1,005,583 Total liabilities, deferred inflows of resources and fund balances$ 3,045$ 1,530,458$ 1,047,409 27 MONROECOUNTY,FLORIDASHERIFF COMBININGBALANCESHEETNONMAJORGOVERNMENTALFUNDS SPECIALREVENUEFUNDS SEPTEMBER30,2019 Total Nonmajor InterAgencySpecialRevenue CommunicationsFunds ASSETS Cash and cash equivalents $ 1,403,285388,803$ Due from Board of County Commissioners 11,979 11,979 Due from other funds - 1,398,373 Due from governmental units 100 150,960 Due from others 7,110 43,082 Total assets $ 407,992$ 3,007,679 LIABILITIESANDFUNDBALANCES Liabilities: Accounts payable $ 19,8949,621$ Accrued wages and benefits payable- 8,532 Due to Board of County Commissioners- 231,911 Due to other governmental units 14,909- Due to other funds 33,566- Due to others - - Unearned revenues - 36,329 Total liabilities 9,621 345,141 Deferred Inflows of Resources: Unavailable revenues - - Fund balances, restricted: Teen court program - 18,686 Inter-agency communication program 398,371 398,371 Inmate welfare program - 943,467 Farm program - 62,116 Fund balances, committed: Contract administration - 1,239,898 Total fund balances 398,371 2,662,538 Total liabilities, deferred inflows of resources and fund balances$ 407,992$ 3,007,679 28 MONROECOUNTY,FLORIDASHERIFF COMBININGSTATEMENTOFREVENUES,EXPENDITURESANDCHANGESINFUNDBALANCES NONMAJORGOVERNMENTALFUNDS SPECIALREVENUEFUNDS YEARENDEDSEPTEMBER30,2019 Law Enforcement TeenCourtTrustFund Revenues: Intergovernmental - BOCC$ -$ 28,000 Intergovernmental - other government units - - Charges for services 50,214 - Fines and forfeitures - - Investment income - - Miscellaneous - - Total revenues 50,214 28,000 Expenditures: Current: Personnel services 65,073 - Operating expenses 1,990 5,000 Capital outlay - - Aid to other governments/non-profits - 23,000 Total expenditures 67,063 28,000 Excess of revenues over (under) expenditures (16,849) - Other financing sources (uses): Transfers (to)/from other funds - - Transfer (to)/from Board of County Commissioners - - Transfer (to)/from other governments - - Total other financing sources (uses) - - Excess of revenues over expenditures and other financing sources (uses) (16,849) - Fund balances, beginning of year 35,535 - Fund balances, end of year$ 18,686$ - 29 MONROECOUNTY,FLORIDASHERIFF COMBININGSTATEMENTOFREVENUES,EXPENDITURESANDCHANGESINFUNDBALANCES NONMAJORGOVERNMENTALFUNDS SPECIALREVENUEFUNDS YEARENDEDSEPTEMBER30,2019 StateContract ForfeitureAdministrativeCommissary Revenues: Intergovernmental - BOCC$ -$ -$ - Intergovernmental - other government units - 837,875 - Charges for services - 3,621,982 573,558 Fines and forfeitures 13,726 - - Investment income 171 16,851 19,943 Miscellaneous income - - 33,067 Total revenues 13,897 4,476,708 626,568 Expenditures: Current: Personnel services - 4,106,919 173,710 Operating expenses 11,457 381,094 241,374 Capital outlay - 9,637 - Aid to other governments/non-profits - - - Total expenditures 11,457 4,497,650 415,084 Excess of revenues over (under) expenditures 2,440 (20,942) 211,484 Other financing sources (uses): Transfers (to)/from other funds - 2,187 - Transfer (to)/from Board of County Commissioners (2,440) - - Transfer (to)/from other governments - (33,471) - Total other financing sources (uses) (2,440) (31,284) - Excess of revenues over expenditures and other financing sources (uses) - (52,226) 211,484 Fund balances, beginning of year - 1,292,124 794,099 Fund balances, end of year$ -$ 1,239,898$ 1,005,583 30 MONROECOUNTY,FLORIDASHERIFF COMBININGSTATEMENTOFREVENUES,EXPENDITURESANDCHANGESINFUNDBALANCES NONMAJORGOVERNMENTALFUNDS SPECIALREVENUEFUNDS YEARENDEDSEPTEMBER30,2019 TotalNonmajor InterAgencySpecialRevenue CommunicationsFunds Revenues: Intergovernmental - BOCC$ 145,603$ 173,603 Intergovernmental - other government units - 837,875 Charges for services 19,878 4,265,632 Fines and forfeitures - 13,726 Investment income 8,745 45,710 Miscellaneous income - 33,067 Total revenues 174,226 5,369,613 Expenditures: Current: Personnel services - 4,345,702 Operating expenses 168,427 809,342 Capital outlay - 9,637 Aid to other governments/non-profits - 23,000 Total expenditures 168,427 5,187,681 Excess of revenues over (under) expenditures 5,799 181,932 Other financing sources (uses): Transfers (to)/from other funds - 2,187 Transfer (to)/from Board of County Commissioners - (2,440) Transfer (to)/from other governments - (33,471) Total other financing sources (uses) - (33,724) Excess of revenues over expenditures and other financing sources (uses) 5,799 148,208 Fund balances, beginning of year 392,572 2,514,330 Fund balances, end of year$ 398,371$ 2,662,538 31 MONROECOUNTY,FLORIDASHERIFF SCHEDULEOFREVENUES,EXPENDITURESANDCHANGESINFUNDBALANCES BUDGETANDACTUALTEENCOURTFUND YEARENDEDSEPTEMBER30,2019 Variance WithFinal OriginalFinalPositive BudgetBudgetActual(Negative) Revenues: Charges for services$ 50,000$ 55,000$ 50,214$ (4,786) Total revenues 50,000 55,000 50,214 (4,786) Expenditures: Current: Personnel services 57,000 70,000 65,073 4,927 Operating expense 3,000 3,000 1,990 1,010 Total expenditures 60,000 73,000 67,063 5,937 Excess of revenues over (under) expenditures (10,000) (18,000) (16,849) 1,151 Fund balances, beginning of year 35,535 35,535 35,535 - Fund balances, end of year $ 25,535$ 17,535$ 18,686$ 1,151 32 MONROECOUNTY,FLORIDASHERIFF SCHEDULEOFREVENUES,EXPENDITURESANDCHANGESINFUNDBALANCES BUDGETANDACTUALLAWENFORCEMENTTRUSTFUND YEARENDEDSEPTEMBER30,2019 Variance WithFinal OriginalFinalPositive BudgetBudgetActual(Negative) Revenues: Intergovernmental - BOCC$ 42,000$ 28,500$ 28,000$ (500) Total revenues 42,000 28,500 28,000 (500) Expenditures: Current: Operating expenses 5,000 5,500 5,000 500 Aid to other governments/non-profits 37,000 23,000 23,000 - Total expenditures 42,000 28,500 28,000 500 Excess of revenues over (under) expenditures - - - - Fund balances, beginning of year - - - - Fund balances, end of year $ -$ -$ -$ - 33 MONROECOUNTY,FLORIDASHERIFF SCHEDULEOFREVENUES,EXPENDITURESANDCHANGESINFUNDBALANCES BUDGETANDACTUALSTATEFORFEITUREFUND YEARENDEDSEPTEMBER30,2019 Variance WithFinal OriginalFinalPositive BudgetBudgetActual(Negative) Revenues: Fines and forfeitures$ 29,000$ 14,000$ 13,726$ (274) Investment income 500 500 171 (329) Total revenues 29,500 14,500 13,897 (603) Expenditures: Current: Operating expenses 8,500 12,000 11,457 543 Total expenditures 8,500 12,000 11,457 543 Excess of revenues over (under) expenditures 21,000 2,500 2,440 (60) Other financing uses: Transfer (to)/from Board of County Commissioners (21,000) (2,500) (2,440) 60 Total other financing uses (21,000) (2,500) (2,440) 60 Excess of revenues over expenditures and other financing sources (uses) - - - - Fund balances, beginning of year - - - - Fund balances, end of year $ -$ -$ -$ - 34 MONROECOUNTY,FLORIDASHERIFF SCHEDULEOFREVENUES,EXPENDITURESANDCHANGESINFUNDBALANCES BUDGETANDACTUALCONTRACTADMINISTRATIVEFUND YEARENDEDSEPTEMBER30,2019 Variance WithFinal OriginalFinalPositive BudgetBudgetActual(Negative) Revenues: Intergovernmental - other governmental units$ 400,000$ 890,000$ 837,875$ (52,125) Charges for services 3,650,000 3,600,000 3,621,982 21,982 Interest income 5,000 10,000 16,851 6,851 Total revenues 4,055,000 4,500,000 4,476,708 (23,292) Expenditures: Current: Personnel 3,585,000 4,120,000 4,106,919 13,081 Operating expenses 245,000 400,000 381,094 18,906 Capital expenses 10,000 10,000 9,637 363 Total expenditures 3,840,000 4,530,000 4,497,650 32,350 Excess of revenues over (under) expenditures 215,000 (30,000) (20,942) 9,058 Other financing sources (uses) Transfers (to)/from other funds - - 2,187 2,187 Transfers (to)/from other governments (33,000) (34,000) (33,471) 529 Total other financing sources (uses) (33,000) (34,000) (31,284) 2,716 Excess of revenues over expenditures and other financing sources (uses) 182,000 (64,000) (52,226) 11,774 Fund balances, beginning of year 1,292,124 1,292,124 1,292,124 - Fund balances, end of year $ 1,474,124$ 1,228,124$ 1,239,898$ 11,774 35 MONROECOUNTY,FLORIDASHERIFF SCHEDULEOFREVENUES,EXPENDITURESANDCHANGESINFUNDBALANCES BUDGETANDACTUALCOMMISSARYFUND YEARENDEDSEPTEMBER30,2019 Variance WithFinal OriginalFinalPositive BudgetBudgetActual(Negative) Revenues: Charges for services$ 475,000$ 600,000$ 573,558$ (26,442) Investment income 5,000 6,000 19,943 13,943 Miscellaneous income 20,000 24,000 33,067 9,067 Total revenues 500,000 630,000 626,568 (3,432) Expenditures: Current: Personnel expenses 165,000 180,000 173,710 6,290 Operating expenses 245,000 250,000 241,374 8,626 Capital outlay 2,500 2,500 - 2,500 Total expenditures 412,500 432,500 415,084 17,416 Excess of revenues over (under) expenditures 87,500 197,500 211,484 13,984 Fund balances, beginning of year 794,099 794,099 794,099 - Fund balances, end of year $ 881,599$ 991,599$ 1,005,583$ 13,984 36 MONROECOUNTY,FLORIDASHERIFF SCHEDULEOFREVENUES,EXPENDITURESANDCHANGESINFUNDBALANCES BUDGETANDACTUALINTERAGENCYCOMMUNICATIONSFUND YEARENDEDSEPTEMBER30,2019 Variance WithFinal OriginalFinalPositive BudgetBudgetActual(Negative) Revenues: Intergovernmental - BOCC$ 120,000$ 140,000$ 145,603$ 5,603 Charges for services 23,000 35,000 19,878 (15,122) Investment income 5,000 5,000 8,745 3,745 Total revenues 148,000 180,000 174,226 (5,774) Expenditures: Current: Operating expense 165,000 175,000 168,427 6,573 Total expenditures 165,000 175,000 168,427 6,573 Excess of revenues over (under) expenditures (17,000) 5,000 5,799 799 Fund balances, beginning of year 392,572 392,572 392,572 - Fund balances, end of year $ 375,572$ 397,572$ 398,371$ 799 37 MONROECOUNTY,FLORIDASHERIFF AGENCYFUNDSDESCRIPTION The purpose of each agency fund in the combining financial statement on the following page is described below. Civil Process Fund - This fund accounts for receipt and disbursement of funds received for the service of papers by the Sheriff. Bonds Fund - This fund accounts for receipts and disbursements of the Bonds Fund. Inmate Fund - This fund accounts for receipts and disbursements of the monies held by the Sheriff on behalf of incarcerated inmates. 38 MONROECOUNTY,FLORIDASHERIFF COMBININGSTATEMENTOFCHANGESINFIDUCIARYASSETSANDLIABILITIES ALLAGENCYFUNDS SEPTEMBER30,2019 October1,September30, 2018AdditionsDeductions2019 Civil Process Assets Cash and cash equivalents$ 109,1534,085$ 107,933$ 5,305$ Total assets $ 4,085$ 109,153$ 107,933$ 5,305 Liabilities Due to Board of County Commissioners$ 4,085$ 45,843$ 44,623$ 5,305 Total liabilities$ 4,085$ 45,843$ 44,623$ 5,305 Bonds Assets Cash and cash equivalents$ 620,792751,307$ 663,037$ 709,062$ Total assets $ 751,307$ 620,792$ 663,037$ 709,062 Liabilities Due to individuals$ 751,307$ 620,792$ 663,037$ 709,062 Total liabilities$ 751,307$ 620,792$ 663,037$ 709,062 Inmate Assets Cash and cash equivalents$ 1,186,53540,693$ 1,185,596$ 41,632$ Due from others (TouchPay) 1,196,7926,933 1,198,086 5,639 Total assets $ 47,626$ 2,383,327$ 2,383,682$ 47,271 Liabilities Accounts payable$ 27,236$ 675,074$ 679,483$ 22,827 Due to individuals 20,390 1,213,551 1,209,497 24,444 Total liabilities$ 47,626$ 1,888,625$ 1,888,980$ 47,271 Total All Agency Funds Assets Cash and cash equivalents$ 1,916,480796,085$ 1,956,566$ 755,999$ Due from others 1,196,7926,933 1,198,086 5,639 Total assets $ 803,018$ 3,113,272$ 3,154,652$ 761,638 Liabilities Accounts payable $ 27,236$ 675,074$ 679,483$ 22,827 Due to Board of County Commissioners 4,085 45,843 44,623 5,305 Due to individuals 771,697 1,834,343 1,872,534 733,506 Total liabilities$ 803,018$ 2,555,260$ 2,596,640$ 761,638 39 SUPPLEMENTARYREPORTS ReportofIndependentAuditoronInternalControloverFinancialReportingandon ComplianceandOtherMattersBasedonanAuditofFinancialStatements PerformedinAccordancewith GovernmentAuditingStandards To the Honorable Rick Ramsay, Sheriff of Monroe County, Florida We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of each major fund and the aggregate remaining fund information of the Monroe County, Florida Sheriff (the ÐSheriffÑ) as of and for the year ended September 30, 2019, and the related notes to the financial statements, and have issued our report thereon dated February 13, 2020 for the purpose of compliance with Section 218.39(2), Florida Statutes, and Chapter 10.550, Rules of the Auditor General-Local Governmental Entity Audits. InternalControloverFinancialReporting In planning and performing our audit of the financial statements, we considered the SheriffÓs internal control over financial reporting (Ðinternal controlÑ) to determine the audit procedures that are appropriate in the circumstances 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 SheriffÓs internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the SheriffÓs 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 a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. ComplianceandOtherMatters As part of obtaining reasonable assurance about whether the Sheriff'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. 40 PurposeofthisReport This report is intended solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the SheriffÓs internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the SheriffÓs internal control and compliance. Accordingly, this communication is not suitable for any other purpose. Orlando, Florida February 13, 2020 41 Independent!ǒķźƷƚƩ͸ƭManagementLetter To the Honorable Rick Ramsay, Sheriff of Monroe County, Florida ReportontheFinancialStatements We have audited the financial statements of the Monroe County, Florida Sheriff (the "Sheriff"), as of and for the year ended September 30, 2019, and have issued our report thereon dated February 13, 2020. !ǒķźƷƚƩ͸ƭResponsibility 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 Chapter 10.550, Rules of the Auditor General. OtherReportingRequirements We have issued our Report of Independent Auditor on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards and Report of Independent Accountant on Compliance with Local Government Investment Policies regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those reports, which are dated February 13, 2020, should be considered in conjunction with this management letter. PriorAuditFindings Section 10.554(1)(i)1., Rules of the Auditor General, requires that we determine whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report. There were no recommendations made in the preceding annual financial audit report. OfficialTitleandLegalAuthority Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in the management letter, unless disclosed in the notes to the financial statements. The Sheriff is a separately elected county official established pursuant to the Constitution of the state of Florida. There are no component units related to the Sheriff. FinancialManagement Section 10.443(1)(I)2., Rules of the Auditor General, requires that we address in the management letter any recommendations to improve financial management. In connection with our audit, we did not have any such recommendations. AdditionalMatters Section 10.554(1)(i)3., Rules of the Auditor General, requires that we address noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance. In connection with our audit, we did not have any such findings. 42 PurposeofthisLetter The purpose of this management letter is to communicate certain matters prescribed in Chapter 10.550, Rules of the Auditor General. Accordingly, this management letter is not suitable for any other purpose. Orlando, Florida February 13, 2020 43 ReportofIndependentAccountantonCompliance withLocalGovernmentInvestmentPolicies To the Honorable Rick Ramsay, Sheriff of Monroe County, Florida We have examined the Monroe County, Florida Sheriff (the "Sheriff"), compliance with local government investment policy requirements of Section 218.415, Florida Statutes, during the year ended September 30, 2019. Management of the Sheriff is responsible for the SheriffÓs compliance with the specified requirements. Our responsibility is to express an opinion on the SheriffÓs compliance with the specified requirements based on our examination. Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether the Sheriff complied, in all material respects, with the specified requirements referenced above. An examination involves performing procedures to obtain evidence about whether the Sheriff complied with the specified requirements. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material noncompliance, whether due to fraud or error. We believe that the evidence obtained is sufficient and appropriate to provide a reasonable basis for our opinion. Our examination does not provide a legal determination on the SheriffÓs compliance with the specified requirements. In our opinion, the Sheriff complied, in all material respects, with the local investment policy requirements of Section 218.415, Florida Statutes, during the year ended September 30, 2019. The purpose of this report is to comply with the audit requirements of Section 218.415, Florida Statutes, and Rules of the Auditor General. Orlando, Florida February 13, 2020 44