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Fiscal Year 2019 n a l w j 6 monno[ counTy FLORIOR COMPREHERSIUE nnnunifIRRRCIflL REPORI t; srNN} sUsi�nr, � k W, --f ��"s21,,, wi �, s 1 sstsi ts13S t s ............. k� k` k � t r 7 � � tF k, �` • ,r, rr ,"��Its��kriSri�;7�,Uk s' r 4 � 4�t} - 4�1 S„ a ,tAa tia1 ' ti`�1'r. MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2019 KEVIN MADOK, CPA CLERK OF THE CIRCUIT COURT & COMPTROLLER PREPARED BY: CLERK OF THE CIRCUIT COURT FINANCE DEPARTMENT PAM RADLOFF, CPA FINANCE DIRECTOR This page is intentionally left blank. MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2019 PAGE INTRODUCTORY SECTION Transmittal Letter of the Clerk of the Circuit Court and Comptroller A-1 Certificate of Achievement for Excellence in Financial Reporting A-8 List of Elected and Appointed Officials A-9 Organizational Chart A-10 FINANCIAL SECTION Report of Independent Auditor B-1 Management's Discussion and Analysis C-1 Basic Financial Statements: Government-Wide Financial Statements Statement of Net Position D-1 Statement of Activities D-3 Fund Financial Statements Balance Sheet - Governmental Funds E-1 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position E-3 Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds E-4 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities E-6 Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Major Governmental Funds: General Fund E-7 Fine and Forfeiture Special Revenue Fund E-11 HIDTA Grants Special Revenue Fund E-13 Governmental Grants Special Revenue Fund E-14 Sheriffs Grants Special Revenue Fund E-17 Statement of Net Position - Proprietary Funds E-18 Statement of Revenues, Expenses, and Changes in Net Position - Proprietary Funds E-22 Statement of Cash Flows - Proprietary Funds E-24 Statement of Fiduciary Net Position - Fiduciary Funds E-28 Notes to Financial Statements F-1 Required Supplementary Information G-1 Combining and Individual Fund Statements and Schedules: Combining Balance Sheet - Nonmajor Governmental Funds H-1 Combining Statement of Revenues, Expenditures, and Changes in Fund H-13 Balances - Nonmajor Governmental Funds Schedules of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Special Revenue Funds and Capital Projects Funds: Affordable Housing Programs H-25 Road and Bridge H-26 Tourist Development, All Districts, Two Cent H-27 Tourist Development, Administration and Promotional, Two Cent H-28 MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2019 PAGE Tourist Development, District One H-29 Tourist Development, District Two H-30 Tourist Development, District Three H-31 Tourist Development, District Four H-32 Tourist Development, District Five H-33 Impact Fees - Roadways H-34 Impact Fees - Parks and Recreation H-35 Impact Fees - Libraries H-36 Impact Fees - Solid Waste H-37 Impact Fees - Police Facilities H-38 Impact Fees - Fire and EMS H-39 Impact Fees - Employee Fair Share Housing H-40 Fire and Ambulance, District One - Lower and Middle Keys H-41 Unincorporated Area Service District - Parks and Recreation H-42 Unincorporated Area Service District - Planning, Building, and Zoning H-43 Municipal Policing H-45 Duck Key Security District H-46 Local Housing Assistance H-47 Boating Improvement H-48 Miscellaneous H-49 Environmental Restoration H-51 Court Facility Fees H-52 Drug Abuse Trust H-53 Marathon Municipal Service Taxing Unit H-54 Bay Point Municipal Service Taxing Unit H-55 Big Coppitt Municipal Service Taxing Unit H-56 Key Largo Municipal Service Taxing Unit H-57 Stock Island Wastewater Municipal Service Taxing Unit H-58 Conch Key Municipal Service Taxing Unit H-59 Long Key-Layton Municipal Service Taxing Unit H-60 Duck Key Municipal Service Taxing Unit H-61 Building Fund H-62 Clerk's Revenue Note Capital Projects Fund H-63 Infrastructure Revenue Bonds Series 2007 Capital Projects Fund H-64 Big Coppitt Wastewater Project Capital Projects Fund H-65 Duck Key Wastewater Project Capital Projects Fund H-66 Long Key Wastewater Project Capital Projects Fund H-67 Land Acquisition Fund Capital Projects Fund H-68 Sheriffs Teen Court H-69 Sheriffs Federal Forfeiture H-70 Sheriffs State Forfeiture H-71 Sheriffs Contract Administrative H-72 Sheriffs Commissary H-73 Sheriffs Interagency Communications H-74 Sheriffs Trauma Star H-75 Sheriffs Radio Communications H-76 MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2019 PAGE Sheriffs Shared Asset Forfeiture H-77 Sheriffs E911 H-78 Clerk's Records Modernization H-79 Clerk's Court Related H-80 Schedules of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Major Governmental Funds: One Cent Infrastructure Surtax Capital Project Fund H-81 Infrastructure Revenue Bonds Series 2014 Capital Projects Fund H-82 Cudjoe Regional Wastewater Capital Project Fund H-83 All Debt Service Funds H-84 Combining Statement of Net Position - Internal Service Funds H-86 Combining Statement of Revenues, Expenses, and Changes in Net Position - Internal Service Funds H-88 Combining Statement of Cash Flows - Internal Service Funds H-90 Combining Statement of Fiduciary Net Position -All Agency Funds H-94 Combining Statement of Changes in Fiduciary Net Position -All Agency Funds H-95 STATISTICAL SECTION Introduction 1-1 Net Position by Component 1-2 Changes in Net Position 1-3 Governmental Activities Tax Revenues By Source 1-6 Fund Balances of Governmental Funds 1-7 Changes in Fund Balances of Governmental Funds 1-8 General Governmental Tax Revenues By Source 1-10 Assessed Value and Estimated Actual Value of Taxable Property 1-11 Direct and Overlapping Governments 1-12 Principal Property Taxpayers 1-13 Property Tax Levies and Collections 1-14 Ratios of Outstanding Debt by Type 1-15 Ratios of General Bonded Debt Outstanding 1-16 Direct and Overlapping Governmental Activities Debt 1-17 Legal Debt Margin Information 1-18 Pledged-Revenue Coverage - Governmental Activities 1-19 Pledged Revenue Bonds and Notes - Business-Type Activities 1-20 Demographic and Economic Statistics 1-21 Principal Employers 1-22 Full-time Equivalent County Government Employees by Function 1-23 Operating Indicators by Function 1-24 Capital Asset Statistics by Function 1-25 MONROE COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2019 PAGE SINGLE AUDIT/GRANTS COMPLIANCE SCHEDULES Report of Independent Auditor on Internal Control over Financial Reporting and on J-1 Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards Report of Independent Auditor on Compliance for Each Major Federal Awards J-3 Program and State Financial Assistance Projects and on Internal Control Over Compliance Required by the Uniform Guidance and Chapter 10.550, Rules of the Auditor General Schedule of Expenditures of Federal Awards and State Financial Assistance Projects J-5 Notes to Schedule of Expenditures of Federal Awards and State Financial J-10 Assistance Projects Schedule of Findings and Questioned Costs - Federal Awards Programs and State J-12 Financial Assistance Projects Summary Schedule of Prior Year Audit Findings - Federal Awards Programs and State J-15 Financial Assistance Projects Independent Auditor's Management Letter K-1 Report of Independent Accountant on Compliance with Local Government Investment Policies and E911 Requirements of Sections 365.172 and 365.173, Florida Statutes K-3 OTHER INFORMATION Schedule of Receipts and Expenditures of Funds Related to the Deepwater Horizon Oil Spill L-1 Kevin Madok, CPA r' Clerk of the Circuit Court& Comptroller—Monroe County, Florida March 20, 2020 The Honorable Heather Carruthers Mayor, Board of County Commissioners Citizens of Monroe County, Florida We are pleased to submit the Comprehensive Annual Financial Report (CAFR) for Monroe County, Florida for the fiscal year(FY) ended September 30, 2019. Monroe County's CAFR is prepared by the Finance Department under the direction of the Clerk of the Circuit Court & Comptroller (Clerk). Responsibility for both the accuracy of the presented data and the completeness and fairness of the presentation, including all disclosures, rests with the Clerk as Chief Financial Officer of Monroe County, Florida (the County). We assert that, to the best of our knowledge and belief, this financial report is complete and reliable in all material aspects. It is presented in a format designed to fairly present the financial position and results of operations of the County as measured by the financial activity. All disclosures needed to allow the reader to gain a comprehensive understanding of the County's financial activity have been included. The County has established a comprehensive internal control framework that is designed both to protect the County's assets from loss, theft, or misuse and to compile sufficient reliable accounting information for financial statement preparation in conformity with United States generally accepted accounting principles (GAAP) established by the Government Accounting Standards Board. Because the cost of internal controls should not outweigh their benefits, the objective is to provide reasonable rather than absolute assurance that the financial statements will be free of material misstatement. In addition, the Federal Single Audit Act, the Florida Single Audit Act and Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, require an independent auditor to report on the government's internal controls and compliance with legal requirements concerning the administration of federal awards and state financial assistance. The report, Single Audit/Grants Compliance Schedules, is published in this CAFR to fulfill these requirements. Independent Audit In compliance with Florida Statute Chapter 218.39, an independent certified public accountant is to audit the financial statements of counties in the State. The County's auditor, Cherry Bekaert LLP, has issued unmodified ("clean") opinions on the Monroe County, Florida financial statements for the year ended September 30, 2019. The report of the independent auditor is located at the front of the Financial Section in this CAFR. KEY NET MARATHON PLANTATION KEY PK/ROTH BUILDING 500 Whitehead Street 3117 Overseas Highway 88820 Overseas Highway 5O High Paint Road Key Nest,Florida 33040 Marathon,Florida 33050 Plantation Key Florida 33070 Plantation Key,Florida 3 070 305-294-4541 305-289-6027 305-852-7145 305-852-7145 Management Discussion and Analysis GAAP requires that management provide a narrative introduction, overview, and analysis to accompany the basic financial statements in the form of Management's Discussion and Analysis (MD&A). The MD&A can be found immediately following the report of the independent auditor in this CAFR and fulfills this requirement. This Letter of Transmittal is designed to complement the MD&A and should be read in conjunction with it. Monroe County Profile Basic Information Monroe County was constitutionally formed in 1823. It is comprised of a string of subtropical islands that stretch more than one hundred miles into the Atlantic Ocean. These islands are connected in a chain-like fashion to the mainland by a series of forty-two bridges. The longest bridge, known as the "7 Mile Bridge", connects Knight's Key in the Middle Keys to Little Duck Key in the Lower Keys. It was among the longest bridges in existence when it was initially built from 1909 to 1912. A new bridge was finished in 1982 but the old bridge still remains in place and services, via pedestrians and cyclists, Pigeon Key, the historic island at the center of the bridge. Monroe County is the southernmost county in the United States with only one road, U.S. 1, connecting some of the islands known as the Florida Keys. The Zero Mile Marker for U.S. 1 is outside of the County courthouse in Key West. The majority of U.S. 1 was built on the former right-of-way of Henry Flagler's Florida East Cost Railroad which was destroyed as a direct result of the 1935 hurricane. This road is 2,369 miles from Key West to Fort Kent, Maine, at the Canadian border. The Monroe County section of the road is more commonly known as the "Overseas Highway" and referred to as the Florida Keys Scenic Highway. The corridor extends five miles into the crystal clear waters on each side of the highway. The County seat, Key West, is approximately one hundred and fifty miles southwest of Miami. Havana, Cuba lies a mere ninety miles to the south. The County is identified by the Florida Department of Economic Opportunity, Division of Community Planning and Development as the "Florida Keys Area of Critical State Concern" due the environmental sensitivity of its lands. Moreover, the County's outdoor recreation lands falls under the Florida's Land Conservation Program which reviews all growth and development decisions as outlined in comprehensive plans and the land development regulations. Monroe County is a non-charter county established under the Constitution and the laws of the State of Florida. Legislative authority and policy decisions are vested in the Board of County Commissioners (Board) consisting of the mayor and four other members, all of whom are elected. The operation of other specific government functions resides with five Constitutional Officers. These Officers are elective and their titles indicative of their specific function. The positions are the Clerk of the Court and Comptroller, Property Appraiser, Sheriff, Supervisor of Elections, and Tax Collector. Monroe County provides a full range of services including roads, A-2 health and social services, emergency medical services, park and recreational services, solid waste services, airport services, and other governmental services. Reporting Entity For financial reporting purposes, the County's primary government consists of the Board of County Commissioners, the Constitutional Officers, and the Monroe County Industrial Development Authority, a blended corporate unit. The Monroe County Comprehensive Plan Land Authority is legally separate and is treated as a discretely-presented component unit. Additional information can be found in Note 1 of the Notes to the Financial Statements. Buffet According to Florida Statutes, Chapter 129, a budget shall be prepared, balanced, approved, adopted, and executed each fiscal year (October 1 through September 30). The Board conducts budget meetings on departmental budgets and Constitutional Officers' requests. A tentative budget is prepared, reviewed, and adopted and the tax levies are calculated and advertised. Three public hearings are held for public input regarding the tentative budgets and proposed tax levies. On the last of the three public hearings a final budget is approved by the Board. Formal budgetary integration is employed as a management control device during the year for all fund types. During the year, the County's Office of Management and Budget acts on intradepartmental cost center budget changes and interdepartmental cost center budget changes are submitted to the Board as a Budget Resolution for approval. A budget amendment is required when alterations are made to a fund's total revenues or expenditures. The Board may adopt the budget amendment after public hearings are held. Budget to Actual Statements are presented in various locations in the CAFR and the budget process is further explained in Note 1 to the Financial Statements. Economic Condition and Outlook Local Economy Monroe County occupies a unique and beautiful corner of the United States. The County has the only living coral barrier reef in the continental United States and includes the Florida Keys National Marine Sanctuary, the largest national marine sanctuary. The Florida Keys outer reefs form the third largest barrier reef system in the world. The Florida Keys offers mild climate year- round and extensive recreational water activities. This makes the Florida Keys and Key West a major domestic and international tourist destination. Seven of the top ten taxpayers in Monroe County are in the hospitality industry. Airplane passenger arrivals increased by 14.1% in the past year while the County's bed tax revenues also experienced an increase of 21.6%. A-3 The County experienced a direct hit from Hurricane Irma in September 2017. This Category 4 hurricane was the strongest to ravage the County in decades. While the County and its residents have worked hard to minimize the impact of the storm on the local economy, the County shifted its focus throughout FY 2018 to manage its recovery efforts including debris removal as well as marine debris removal, housing strategies for residents and workforce alike, assistance in procuring grants and programs, and repairs on the local government infrastructure. This shifted focused continued throughout FY 2019. Long-term Financial Planning In 2016, after a six-year effort, the County approved the Monroe County Year 2030 Comprehensive Plan. The plan evaluates all aspects that affect the Florida Keys including land use, housing, marine resources and conservation of environmentally sensitive land. It addresses transportation including mass transit, traffic circulation, ports, aviation, and infrastructure (potable water, sewer, solid waste disposal, and natural groundwater aquifer recharge). The Plan also includes an evaluation of recreation and open space, cultural resources, historic preservation, and capital improvements. The County is balancing the use of ad valorem tax revenues with the maintenance of General Fund reserves to insulate the General Fund from revenue fluctuations due to disasters of any kind and provide adequate working capital for operations. The Board continues to respond to ongoing economic conditions by maintaining rigorous cost controls, instituting hiring freezes and scrutinizing the cost benefit of outside contractors. The Board continues to focus on its efforts to balance costs, services to Monroe County citizens, and reductions in its revenue base. The County provides healthcare coverage for 422 retirees. In the accompanying government- wide financial statements, the County recognizes the present value of projected postemployment benefits (OPEB) to be provided to current and inactive employees attributable to past periods of service. This projection results in a reported long-term liability of over $47 million in FY 2019. Mai or Initiatives Capital project funding is derived from multiple sources which include impact fees, various grants, One Cent Infrastructure Sales Surtax, state revolving funds, and the issuance of revenue bonds. A large revenue source for capital projects is derived from the One Cent Infrastructure Surtax. The tax, maintained in a separate fund, allows for the imposition on both residents and visitors a one percent tax on most purchases in the County. This revenue source has generated over $431.7 million since its 1990 inception. In FY 2013, Monroe County residents approved a referendum providing an extension of the One Cent Infrastructure Sales Surtax to FY 2033. The County's Capital Improvement Plan (Plan) identifies capital projects that are to be funded from FY 2020 through FY 2024, a five-year period. The adopted annual capital budget represents the first year of the multi-year Plan. The Plan also allows the County to maintain the value of its long-term infrastructure assets such as buildings, roads, bridges, and parks. A-4 Some of the highlights from the 2020-2024 Plan to be funded with One Cent Infrastructure Surtax include: • General Government: - $1.2 million for the purchase of the Ocean Reef Emergency Building; - $4.3 million for the purchase of Public Defender Building; - $5.1 million for the update to the Senior Nutrition Center; and - $1 million for the installation of the county-wide voice-over internet phone system. • Public Safety: - $4.7 million for the Cudj oe fire station; and - $35.9 million for building the Plantation Key Courthouse and Jail. • Culture and Recreation: - $7.9 million for the Marathon Library; - $2.2 million for Big Pine Swimming Hole; - $3.9 million for Higg's Beach Master Plan; and - $1 million for the Pigeon Key ramp. The following are major capital projects that were substantially completed in FY 2019: • Key Largo's roadways; • Stock Island roads and drainage; • Transfer station; • Key West Airport's custom building; and • Key West Airport's construction for drainage. The State of Florida mandated in 1999 that advanced wastewater treatment systems be installed to improve water quality in the Florida Keys. In fiscal year 2019, the County capitalized over $13.3 million related to this project. In addition, the County has completed connecting most of its service areas to the wastewater treatment plan, including the Cudj oe Regional project which includes Upper and Lower Sugarloaf Keys, Summerland Key, Ramrod, Cudjoe and Big Pine Keys. Construction of wastewater collection and transmission systems continues on Big and Middle Torch Keys and No Name Key as well as the expansion of the Layton system to serve the east and west ends of Long Key. Construction costs are approximated to be $207 million. To finance the project, the County has levied wastewater special assessments, obtained a state grant, and obtained a Florida Department of Environmental Protection loan. The County also entered into an interlocal agreement with the Key Largo Wastewater Treatment District to accept the district's portion of the Mayfield Fund Grant. The County is repaying the grant to the District at no interest over the next ten years. The project's debt is collateralized by the local infrastructure sales surtax and wastewater special assessments. A-5 Relevant Financial Policies The Board strives to adhere to sound financial management principles to ensure that sufficient funds are available to maintain a stable financial base for the County. To achieve a stable financial base, the County budgets to maintain fund balances sufficient to fund the County's cash flow needs, to provide financial reserves for unanticipated expenditures or unexpected revenue shortfalls, to provide funds for the disparity in timing between property tax collection, sales tax distributions as well as other revenues and expenditures, and to secure and maintain investment grade bond ratings. In accordance with Section 218.415, Florida Statutes, the County's investment policy, approved in January 2019, establishes investment objectives, maturity and liquidation requirements, portfolio composition, risk and diversification requirements, and authorized investments. The primary objective of investment activity is the safety of the principal of funds and maintain sufficient liquidity to meet anticipated cash flow needs. A secondary objective is to obtain competitive returns on the investment of the County's surplus funds. The County adheres to Governmental Accounting Standards Board's Statement No. 54 which requires governmental entities to classify a fund balance into one of five categories to indicate the constraints imposed upon these resources: non-spendable, restricted, committed, assigned and unassigned. An unassigned fund balance is the residual classification that includes all spendable amounts not contained within the other four classifications. Unrestricted fund balance is the amount of fund balance that the Board has placed constraints on its use (committed or assigned fund balance) plus the fund balance that does not have any specific purpose identified for the use of those net resources (unassigned fund balance). It is the goal of the Board to achieve and maintain an unrestricted General Fund balance equal to four months of budgeted expenditures. To achieve this goal, the Board's Fund Balance policy dictates that the County shall plan to adjust budget resources in the subsequent fiscal years to restore the balance. Appropriation from unrestricted General Fund balance shall require Board approval and shall be only for one-time expenditures, such as capital purchases, and not for ongoing expenditures unless a viable plan designated to sustain the expenditures is simultaneously adopted. The Board has the responsibility of responding to emergency disaster and has $10 million in disaster reserve funds to ensure adequate cash flow is available in post-disaster situations. In the event these funds fall below the set amount, an action plan to begin replenishment to the appropriate level will be addressed in the ensuing budget year. Awards and Acknowledgments The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to Monroe County, Florida for its Comprehensive Annual Financial Report for the fiscal year ended September 30, A-6 2018. This was the thirty first (31") consecutive year that Monroe County has achieved this prestigious award. To be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both U.S. generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe that our current comprehensive annual financial report continues to meet the Certificate of Achievement Program's requirements and we are submitting it to the GFOA to determine its eligibility for another certificate. In addition, Monroe County also received the GFOA's Distinguished Budget Presentation Award for its annual appropriated budget. This was the twentieth (20t') year that Monroe County received this award. To qualify for the Distinguished Budget Presentation Award, the government's budget document was judged to be proficient in several categories including policy documentation, financial planning, and organization. This report is the product of the dedication and hard work of the Finance Department under the direction of Monroe County's Clerk of the Circuit Court & Comptroller, Kevin Madok, CPA as Auditor and Chief Financial Officer to the Board of County Commissioners. We would like to express our appreciation to the entire Finance Department, the Board of County Commissioners and their staff and other Constitutional Officers for their assistance in the preparation of this report. This includes their dedicated support in planning and conducting the financial operations of the County in a responsible and progressive manner throughout the year. We also extend our thanks and appreciation to our independent auditor, Cherry Bekaert LLP, for its outstanding efforts, advice, and assistance. Sincerely, Kevin Madok, CPA Pam lea Toff, C A Clerk of the Circuit Court& Comptroller Monroe County Chief Financial Officer Finance Director A-7 Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting Presented to Monroe County Florida For its Comprehensive Annual Financial Report for the Fiscal Year Ended September 30, 2018 Executive Director/CEO A-8 MONROE COUNTY, FLORIDA ]BOARD OF COUNTY COMMISSIONERS SYLVIA MURPHY, MAYOR DISTRICT 5 DANNY KOLHAGE MICHELLE COLDIRON DISTRICT I DISTRICT 2 HEATHER CARRUTHERS DAVID RICE DISTRICT 3 DISTRICT 4 ROMAN GASTESI COUNTY ADMINISTRATOR KEVIN MADOK, CPA CLERK OF THE CIRCUIT COURT AND COMPTROLLER A-9 f /J | ! } : \ \\} \ }} \ \ \} 1 ! \�\\ o 2 ( � - § ` � ww ° - R / - m - r � ; o = \ ) ) ) 7 � ) § G \ o lo @ \ ) o § - I f / \ 0 ] ] } o _ ! \ \ \ \ w \\\j � § um Ll}� \ \ E\ jo go � o k 8o6 a o 1101011 Cherry rt" t ,-'o, Report of Independent Auditor To the Honorable Mayor and Board of County Commissioners of Monroe County, Florida: Report on the Financial Statements We have audited the accompanying financial statements of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of Monroe County, Florida (the "County"), as of and for the year ended September 30, 2019, and the related notes to the financial statements, which collectively comprise the County's basic financial statements as listed in the table of contents. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the County's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the County's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Opinions In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the County as of September 30, 2019, and the respective changes in financial position, and, where applicable, cash flows thereof and the respective budgetary comparison for the General Fund, Fine and Forfeiture Fund, HIDTA Grants Fund, Governmental Grants Fund and Sheriff's Grants Fund for the year then ended in accordance with accounting principles generally accepted in the United States of America. B-1 Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the Management's Discussion and Analysis and the required supplementary information as listed in the table of contents be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Supplementary and Other Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the County's basic financial statements. The introductory section, combining and individual fund statements and schedules, statistical section and the schedule of receipts and expenditures of funds related to the Deepwater Horizon oil spill, as listed in the foregoing table of contents, are presented for purposes of additional analysis and are not a required part of the basic financial statements. The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance Projects is presented for purposes of additional analysis as required by Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, and Chapter 10.550, Rules of Auditor General, and are also not a required part of the basic financial statements. The combining and individual fund statements and schedules and the Schedule of Expenditures of Federal Awards and State Financial Assistance Projects and the schedule of receipts and expenditures of funds related to the Deepwater Horizon oil spill are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, this information is fairly stated in all material respects in relation to the basic financial statements as a whole. The introductory and statistical sections have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on them. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated March 20, 2020, on our consideration of the County's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the County's internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the County's internal control over financial reporting and compliance. Orlando, Florida March 20, 2020 B-2 This page is intentionally left blank. Management's Discussion and Analysis As Finance Department management, under the direction of Monroe County's Chief Financial Officer and Clerk of the Circuit Courts and Comptroller, we offer readers this narrative overview and analysis of the financial activities of Monroe County Government (County) for the fiscal year ended September 30, 2019. We encourage readers to consider this information in conjunction with additional information furnished in the letter of transmittal in the Introductory Section of this report and the audited basic financial statements for an overall view of the County's activities. Financial Highlights • The County's total assets and deferred outflows of resources exceeded its total liabilities and deferred inflows of resources at September 30, 2019 by $642 million, an increase of$64.3 million compared to prior to fiscal year. Of this amount, $478.1 million represents net investment in capital assets; $249.5 million is restricted for specific purposes (restricted net position); and the remaining portion represents negative unrestricted net position of $85.6 million. Unrestricted net position is negative primarily due to the implementation of Governmental Accounting Standards Board (GASB) Statements Nos. 68 and 75. GASB Statement No. 68 was implemented in Fiscal Year (FY) 2015 and requires the County to report on the face of the financial statements the deferred inflows, deferred outflows and net pension liabilities the County's proportionate share of the Florida Retirement System (FRS) pension plan and the Volunteer Firefighters and Emergency Medical Services pension plan. Similarly, GASB Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions, was implemented in FY 2018 and requires the reporting on the face of the financial statements of deferred inflows, deferred outflows, and net liabilities related to the County's Other Post-Employment Benefits (OPEB) program. The unfunded pension and OPEB obligations will continue to negatively impact unrestricted net position for future periods until all plans have been fully funded. • Comparing FY 2019 with FY 2018, the results of governmental activities produced an increase in net position of $41.7 million, while in FY 2018 net position decreased by $12.4 million. We discuss key changes in net position later in Management's Discussion& Analysis (MD&A). • Comparing FY 2019 with FY 2018, the results of business-type activities produced an increase in net position of$22.6 million, while in FY 2018 net position decreased by $2.9 million. We discuss key changes in net position later in this MD&A. • As of September 30, 2019 and 2018, the County's governmental funds reported combined ending fund balances of$234.5 million and $227.7 million, respectively. Of the combined fund balance, $10.3 million or 4.4% is available for spending at the County's discretion(unassigned balance). • The County's General Fund (primary operating fund) reported a total fund balance of $35.9 million, an increase of $1.6 million from the prior year. This increase reflects the County's continued fiscal recovery from Hurricane Irma's destruction that occurred in September 2017. C-1 • Bonded debt and loans of the County decreased $30.2 million in FY 2019. This was comprised of $21.7 million in new debt less $51.9 million in reductions (payments). The County's percentage of bonded debt and loans compared to net position decreased from 39.9% to 31.4%. The other components of long-term debt are discussed in further detail later in this MD&A. Overview of the Financial Statements This MD&A is intended to serve as an introduction to the County's basic financial statements, which include government-wide financial statements, fund financial statements, as well as notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements. The chart below illustrates the components of the CAFR: Components of the Comprehensive Annual Financial Report (CAFR) Letter of Transmittal and Other General Introduction ; Information on the Government Section i Management Discussion and Analysis ; Government-Wide Financial Statements Governmental Fund Financial Statements ; Basic Proprietary Fund Financial Statements Financial ; Financial Statements Fiduciary Fund Financial Statements Section ' CAFR and RSI ; Notes to the Financial Statements Additional Required Supplementary Information ; Information on Individual Funds and Other Supplementary Information Not Required by ; GAAP. i Trend Data and Nonfinancial Information Statistical Section Government-Wide Financial Statements The Government-Wide Financial Statements are designed to provide the reader with a broad overview of the financial position of the County, in a manner similar to private-sector business. They include a Statement of Net Position and a Statement of Activities. These statements appear on pages D-1 through D-4 of this report. The Statement of Net Position presents information on all of the County's assets, deferred outflows of resources, liabilities and deferred inflows of resources, with the difference reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the County is improving or deteriorating. C-2 The Statement of Activities, which follows the Statement of Net Position, presents information showing how the net position changed during fiscal year 2019. The statement presents all underlying events, which contribute to the change, irrespective of the timing of the related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only affect cash flows in future fiscal periods (e.g., uncollected taxes, earned but unused vacation and medical leave). Both of the aforementioned government-wide financial statements distinguish functions of the County that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges for services (business-type activities). The governmental activities reported in the statements include general government, public safety, physical environment, transportation, economic environment, human services, culture and recreation, and court-related. The business-type activities include the County's airports, Solid Waste, and the Card Sound Road and Toll Bridge. The government-wide financial statements include not only the County itself (known as the primary government) but also the operations of the Monroe County Comprehensive Plan Land Authority. Financial information for this component unit is reported separately within the government-wide financial statements from the financial information presented for the primary government. Fund Financial Statements A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The County, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the County can be divided into three general categories: governmental, proprietary, and fiduciary funds. Governmental Funds. Governmental Funds essentially account for the same functions as those reported in the government-wide statements described above. However, unlike the government-wide statements, this set of financial statements focuses on events that produce near-term inflows and outflows of spendable resources available at the end of the fiscal year, which is a narrower focus than the government-wide financial statements. Such information may be useful in evaluating the available spendable resources. These statements appear on pages E-1 through E-17 of this report. It can be useful to compare the information presented for the governmental funds with similar information presented for governmental activities in the government-wide statements. Therefore, reconciliations are provided as a link between both the governmental fund statements and the government-wide statements to assist in this comparison. These statements appear on pages E-3 and E-6 of this report. The governmental fund financial statements present financial information for the County's general, special revenue, debt service and capital project funds. Governmental funds individually presented as major funds in the County's statements include: the General Fund; four special revenue funds: Fine and Forfeiture, High Intensity Drug Trafficking Area (HIDTA) Grants, Governmental Grants and the Sheriff's Grants; the Debt Service Fund; and three capital project funds: One Cent Infrastructure Surtax, Infrastructure Revenue Bonds Series 2014, and Cudjoe Regional Wastewater Project. C-3 There are many smaller governmental funds in the County. They have been presented in a total column "Nonmajor Governmental Funds." These funds are presented individually in the combining and individual fund statements section of the report. Proprietary Funds. The County maintains two different types of proprietary funds, enterprise and internal service. The proprietary fund statements appear on E-18 through E-27 of this report. Enterprise funds are used to report business-type activities in the government-wide financial statements. The County maintains four major enterprise funds: Municipal Service District Waste, Card Sound Bridge, Key West International Airport, and the Florida Keys Marathon International Airport. There are no non-major enterprise funds. Internal service funds are used to accumulate and allocate costs among the County's various functions. The County uses internal service funds to account for insurance activities (worker's compensation, group insurance and risk management) and fleet management activities. Internal service funds are presented in total in the fund financial statements but may be reviewed individually in the combining and individual fund statements section of the report. Because these services predominantly benefit governmental rather than business-type functions, they have been included within the government-wide financial statements as governmental activities. They are also combined into a single, aggregated presentation in the proprietary fund financial statements. Fiduciary Funds. The County uses fiduciary funds to account for resources held for the benefit of parties outside of County government, such as assets held in trust and agency funds by the County as an agent for individuals. Fiduciary funds are not reflected in the government-wide financial statements because the resources of those funds are not available to support the County's own programs. The accounting used for fiduciary funds is much like that used for proprietary funds. The fiduciary fund financial statement appears on page E-28 of this report. Notes to the Financial Statements The notes to the financial statements provide additional information that is essential to a full understanding of the data provided in both government-wide and fund financial statements. The notes commence on page F-1 and continue throughout the entire F page section. Other Information Required Supplementary Information includes information for the Florida Retirement System (FRS) and Health Insurance Subsidy (HIS) Pension Plans, the Volunteer Firefighters and Emergency Medical Services Length of Service Awards Program (LOSAP) Pension Plan, and the County's Other Post- Employment Benefits (OPEB)program, as provided on pages G-1 through page G-13. Combining and individual statements and schedules mentioned earlier, which present details of non- major funds used in governmental and enterprise funds, commence on page H-1 and continue throughout the entire H page section. This section also includes the budget to actual schedules, and statements for major capital project, internal service and agency funds. Additional information about the County can be found under the Statistical Section (Section I) and the Single Audit Section(Section J) of this report. C-4 Government-Wide Financial Analysis The County adopted the government-wide financial statement presentation. This reporting structure and measurement focus using accrual accounting for all of the government's activities was mandated by the Government Accounting Standards Board (GASB) in Statement No. 34, Basic Financial Statements - and Management's Discussion and Analysis - for State and Local Governments. Comparative data for fiscal years ending September 30, 2019 and 2018 is presented. Monroe County Net Position (in thousands) The following is a condensed summary of Net Position compared to the prior year. Governmental Business-type Total Primary Activities Activities Government 2019 2018 2019 2018 2019 2018 Current and Other Assets $ 343,093 $ 326,459 $ 31,953 $ 36,599 $ 375,046 $ 363,058 Capital Assets 570,366 527,333 109,870 109,681 680,236 637,014 Total Assets 913,459 853,792 141,823 146,280 1,055,282 1,000,072 Deferred Outflows 54,961 55,958 1,901 2,092 56,862 58,050 Current Liabilities 53,743 46,077 2,942 6,492 56,685 52,569 Long-Term Liabilities 387,020 377,012 7,499 31,054 394,519 408,066 Total Liabilities 440,763 423,089 10,441 37,546 451,204 460,635 Deferred Inflows 18,442 19,170 505 604 18,947 19,774 Net Position: Net Investment in Capital Assets 368,243 319,026 109,870 109,681 478,113 428,707 Restricted 240,948 223,727 8,522 7,079 249,470 230,806 Unrestricted (99,976) (75,262) 14,386 (6,538) (85,590) (81,800) Total Net Position $ 509,215 $ 467,491 $ 132,778 $ 110,222 $ 641,993 $ 577,713 The largest portion of net position for 2019 and 2018 is the County's net investment in capital assets (e.g., land and depreciated buildings, infrastructure and equipment), less any outstanding debt related to their acquisition. This category represents 74.5% and 74.2% of total primary government net position for fiscal years 2019 and 2018, respectively. The County uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. Although the County's investment in capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities. C-5 The increase in capital assets reflects the County's ongoing commitment of resources to the wastewater improvement construction and other projects that have an impact on the citizens of the County. The County also continues to construct improvements to public facilities such as Plantation Key Courthouse and Detention Center, Cudjoe Fire Station, and the Marathon Public Library. Total primary government net position above also includes restricted net position. Restricted net position is resources subject to external restriction on how they may be used. In FY 2019, 38.9% of the total primary government's net position was restricted. The restrictions reported for business-type activities are comprised of the passenger facility charges and custom service operations. Restrictions reported for governmental activities are special purpose funds which report the use of resources as designated by external entities. The remaining component of net position is unrestricted net position. Unrestricted net position may be used to meet the County's ongoing obligations to citizens and creditors. Comparison of Current Assets and Liabilities (in thousands) A comparison of current assets to current liabilities for both governmental and business-type activities can be a good indication of the County's ability to meet its current and existing operational responsibilities. The ratios for the current and prior fiscal years are as follows: Governmental Business-type Activities Activities 2019 2018 2019 2018 Current Assets $ 343,094 $ 326,459 $ 23,432 $ 29,521 Current Liabilities $ 53,743 $ 46,077 $ 2,942 $ 6,492 Ratio of Current Assets to Current Liabilities 6.38 7.09 7.96 4.55 The schedule above demonstrates that the County continues to have adequate cash flows. The governmental activities ratio of 6.38 and the business-type activities ratio of 7.96 reflect the County's ability to pay back its current liabilities with available current assets. C-6 Monroe County Changes in Net Position (in thousands) The following table summarizes the changes in net position for the current and previous year. Governmental Business-type Total Pri nary Activities Activities Government 2019 2018 2019 2018 2019 2018 Revenues: Charges for Services $ 50,963 $ 44,121 $ 31,994 $ 29,210 $ 82,957 $ 73,331 Operating Grants and Contributions 14,561 14,900 19,430 6,339 33,991 21,239 Capital Grants and Contributions 55,792 22,912 8,962 22,457 64,754 45,369 General Revenues: Property Taxes 86,858 81,472 - - 86,858 81,472 Other Taxes 88,401 76,014 88,401 76,014 State Revenue Sharing 3,681 4,634 - - 31681 4,634 Investment Income 8,007 3,937 798 359 8,805 4,296 Miscellaneous 7,496 6,479 409 240 7,905 6,719 Total Revenues 315,759 254,469 61,593 58,605 377,352 313,074 Expenses: General Government 42,600 33,047 - - 42,600 33,047 Public Safety 137,159 123,536 137,159 123,536 Physical Environment 13,827 13,858 13,827 13,858 Transportation 10,299 6,329 10,299 6,329 Economic Environment 34,419 36,763 34,419 36,763 Human Services 10,268 8,129 10,268 8,129 Culture and Recreation 6,931 5,771 6,931 5,771 Court Related 11,097 9,575 11,097 9,575 Interest on Long Term Debt 7,017 4,277 - - 7,017 4,277 Solid Waste - - 19,828 43,351 19,828 43,351 Toll Bridge 968 802 968 802 Key West Airport 15,879 13,734 15,879 13,734 Marathon Airport - - 2,780 2,546 2,780 2,546 Total Expenses 273,617 241,285 39,455 60,433 313,072 301,718 Change in Net Position before transfers 42,142 13,184 22,138 (1,828) 64,280 11,356 Transfers (418) 1,074 418 (1,074) - - Change in Net Position 41,724 14,258 22,556 (2,902) 64,280 11,356 Total Net Position-October 1 467,491 453,233 110,222 113,124 577,713 566,357 Net Position-Ending $ 509,215 $ 467,491 $ 132,778 $ 110,222 $ 641,993 $ 577,713 Total revenues exceeded total expenses in the current year, resulting in an increase in the County's total net position of $64.3 million in FY 2019 compared to an increase in net position of$11.3 million during FY 2018. The reasons for the overall increase are explained below in the governmental activities and business-type activities sections. C-7 Governmental Activities The increase in net position for governmental activities for operations was $41.7 million during FY 2019. In contrast, the change in net position increased $14.3 million in FY 2018. Throughout FY 2019, the County continued to focus most of its efforts on recovery from Hurricane Irma. Other highlights for governmental activity revenue and expenses are as follows: Revenues • Charges for Services increased by 15.51% between FY 2018 and FY 2019. A portion of this increase is due to an upsurge of building permits being issued to residents and business for re- building their lost property from Hurricane Irma. In addition, there was a 12.5% increase in revenue generated by Fire and Ambulance for its emergency management services which is primarily the result of increased availability of trauma star helicopters in FY 19. • Tourist Development revenue FY 2019 totaled $39.9 million which is over a 21.8% increase from the previous fiscal year of$32.8 million. During FY 2019, most of the hotels in the Florida Keys re-opened their businesses after experiencing an extended business interruption throughout FY 2018 caused by Hurricane Irma. The increase in the tourist development revenue is a reflection of the County's tourism industry bouncing back after the hurricane. • Sales Taxes (1/2 Cent Sales Tax and One Cent Infrastructure Tax) were $36.1 million in FY 2019 compared to $31.8 million in FY 2018, which was an increase by $4.3 million or 13.5%. With the tourist industry fully recovering in FY 2019, the tax revenue primarily paid by tourists increased accordingly. • Operating Grants and Contributions decreased by $.3 million or negative 2% while Capital Grants and Contributions significantly increased by $32.9 million. Grants are nonrecurring in nature and can fluctuate from year to year. Many of the grant funding received in FY 2019 is directly attributable to reimbursements received from the Federal Emergency Management Agency or the Natural Resources Conservation Service. • Investment income experienced an increase of over $4.5 million due, in part, to the Board of County Commissioners approving an updated investment policy. In FY 2018, the County reported $4.3 million in investment income while this amount was $8.8 million in FY 2019. The new investment policy, approved through Resolution 032-2019, allowed the Clerk to diversify the County's investment portfolio through reinvestment of income and capital gains. The County's diversified investment portfolio also benefited from increased interest rates which also contributed to the County's sizable increase in investment income during FY 2019. • Miscellaneous revenue continued to be higher than normal. In FY 19, the County reported $7.9 million in miscellaneous revenue. This increase is due to the receipt of recoveries from insurance due to damage caused by Hurricane Irma. Expenses • Pension related expenses, resulting in the change of deferred inflow of resources, deferred outflow of resources, and the net pension liabilities, increased by $7.1 million in FY 2019. Throughout FY 2019, the County continued to incur overtime expenses for the Hurricane Irma storm recovery. C-8 These overtime expenses are eligible for pension benefits, which accounts for the increase in pension expense. • Depreciation expense reported in governmental activities increased by $9.8 million in FY 2019. • Advertising, promotion, and operating expenses associated with tourism development decreased by $1.9 million in FY 2019. • Public safety operational expenses (not capitalized) increased by $13.6 million or 11%. This represents the needed salary adjustments requested for Sheriff's staff to address retention issues. • Physical environment expenses (not capitalized) decreased by $.03 million. The Cudjoe Regional Wastewater Project neared completion in FY 19 which resulted in a decrease of expenditures. The graph below represents a comparison of program revenues to program expenses for governmental activities for fiscal year 2019. It is apparent from these graphs that general revenues were required to cover expenses for most of the functions noted. Monroe County, Florida Governmental Activities (ireMillions) For the year ended September 30, 2019 160.0 137.1 140.0 120.0 100.0 80.0 60.0 53.6 42.6 �y 40.0 32.3 34.4 21.6 N n 20.0 13.8 10.3 10.3 11.1 5.3 10.4 1.4 0.9 6.9 5.6 0.0 1 General Public safety Physical Transportation Economic Human services Culture& Court Related Government Environment Environment Recreation ur Program Revenues N Program Expenses The largest revenue sources for governmental activities in FY 2019 are property taxes in the amount of $86.9 million and all other taxes totaling $88.4 million. Total taxes of $175.3 million amounted to 55.5% of the County's governmental activity revenues excluding transfers. The second largest revenue source, excluding grant funding, is charges for services at$51 million or 16.1% of governmental activity revenues excluding transfers. The 2019 graph identifies the largest expense function as public safety, amounting to $137.1 million. This is 50.1% of the total expenses for governmental activities. The next largest functions are general government and economic environment that total $77 million or 28.1% 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. C-9 The graph on the next page represents a comparison of program revenues to program expenses for governmental activities for FY 2018. Monroe Counted, Florida Governmental Activities (in Millions) For the year ended September 30, 2018 140.0 123.5 120.0 100.0 80.0 60.0 42.6 40.0 33.0 36.8 20.0 17.3 y 12.0 13.9� 6.13 8.1 5.8 5.6 9.6 » 1.8 0.3 1.4 0.9 0.0 � General Public Safety Physical Transportation Econornic Hurnan Services Culture& Court Related Government Environment Environment Recreation UM Program Revenues 0 Program Expenses The largest revenue sources for governmental activities in FY 2018 are property taxes in the amount of $81.5 million and all other taxes totaling $76 million. Total taxes of$157.5 million amounted to 61.9% of the County's governmental activity revenues excluding transfers. The second largest revenue source is charges for services at$44.1 million or 17.3% of governmental activity revenues excluding transfers. The FY 2018 graph identifies the largest expense function as public safety, amounting to $123.5 million. This is 51.2% of the total expenses for governmental activities. The next largest function is general government and economic environment that total $69.8 million or 28.5% of total expenses for governmental activities. The general government expenses include the Tax Collector, Property Appraiser, Clerk of the Circuit Court, and the Supervisor of Elections. Business-Type Activities The purpose of proprietary funds is to recover the majority of costs incurred in providing a service through user fees and charges for that service. Charges for services revenues in FY 2019 amounted to $32 million or 51.9% of all business-type activities revenue sources. Other revenue source increases include $8.9 million and $19.4 million in capital grants and operating grants respectively. Total expenses (excluding transfers from other funds) were less than total revenues (excluding transfers to other funds) by $1.2 million. During FY 2019, the Municipal Services District Waste enterprise fund was able to use the FEMA disaster public assistance that was received during the fiscal year to pay off all the fund's debt related to hurricane-related debris removal. C-10 Financial Analysis of Monroe County's Funds Governmental Funds Governmental funds provide information on near-term inflows, outflows, and balances of spendable resources. In assessing the County's financing requirements, unassigned fund balance represents the County's net resources available for spending at the end of the fiscal year. The governmental fund types include the General Fund, special revenue, debt service and capital project funds. The County's governmental funds reported combined fund balances of$234.5 million at the end of the current fiscal year. This represents a $6.8 million, or 2.9%, increase from prior year. Governmental funds held non-spendable, restricted, committed or assigned amounts totaling $224.3 million to reflect the various constraints placed on those resources for future use. The General Fund is the chief operating fund of the County. At September 30, 2019, the total fund balance in the General Fund was $35.9 million, an increase of$1.6 million, or 4.6% from the prior year. The unassigned portion of the General Fund's fund balance was $16.1 million. Tax revenue increased by $3.3 million in the General Fund. Intergovernmental revenues increased by $1.5 million, or 10.2%. Expenditures increased by $4.3 million or 4.5%. Other Maior Fund Information(in thousands) Fine and Forfeiture HIDTA Grants Governmental Grants 2019 2018 2019 2018 2019 2018 Revenues and Other Sources $ 62,511 $ 63,798 $ 20,905 $ 21,324 $ 51,260 $ 28,725 Expenses and Other Uses 59,738 61,605 20,905 21,324 58,222 21,616 Increase/(Decrease)in Fund balance $ 2,773 $ 2,193 $ - $ - $ (6,962) $ 7,109 Sheriff s One Cent Infrastructure Revenue Bonds Grants Infrastructure Surtax Series 2014 2019 2018 2019 2018 2019 2018 Revenues and Other Sources $ 4,719 $ 608 $ 16,854 $ 21,508 $ 513 $ 16,285 Expenses and Other Uses 714 2,605 7,443 21,169 6,588 2,353 Increase/(Decrease)in Fund balance $ 4,005 $ (1,997) $ 9,411 $ 339 $ (6,075) $ 13,932 Cudjoe Regional Wastewater Activities Debt Service 2019 2018 2019 2018 Revenues and Other Sources $ 8,510 $ 19,745 $ 17,294 $ 9,833 Expenses and Other Uses 10,364 21,343 18,671 10,161 Increase/(Decrease) in Fund balance $ (1,854) $ (1,598) $ (1,377) $ (328) C-11 Fine and Forfeiture Special Revenue Fund. Total revenue and other sources for this fund decreased by $1.3 million as a result of an increase in transfers of funds from other areas. Total operating expenses and transfers to other funds also decreased by $1.9 million, which reflects a slowdown from the previous fiscal year of activity relating to the County's recovery efforts in October and November 2017 following Hurricane Irma. HIDTA Grants Special Revenue Fund. This fund is used to account for reimbursement grants funded by the U.S. Department of Justice to fight drug trafficking. The volume of revenues and expenditures has not significantly changed as programs established by the grantor have been continued. Governmental Grants Special Revenue Fund. The FY 2019 revenue increased by $22.5 million due to receipt of FEMA public assistance revenue for Hurricane Irma. Similarly, governmental grant-related expenditures increased by $36.6 million because the County was awarded a grant from the Natural Resources Conservation Service to remove marine debris from canals. Sheriff's Grants Fund. This fund is used by the Sheriff to account for reimbursement of various grants received by the Sheriff including revenues and expenditures related to the Sheriff's Hurricane Irma recovery. The reimbursements the Sheriff expects to receive from federal and state governments for hurricane-related expenditures is not anticipated to be received until subsequent fiscal years. One Cent Infrastructure Surtax Capital Project Fund. The County voted during the 2012 general election to extend the surtax expiration date from 2018 to 2033. This is similar to the State shared revenues based on sales tax; the trend for this receipt has been growing each year. The revenue source will be used to fund on-going capital projects. Infrastructure Revenue Bonds Series 2014. In October 2014, the County issued revenue bonds to construct and acquire equipment and capital improvements. In FY 2019, unused bond proceeds that were originally dedicated to fund the Cudjoe Regional Wastewater project were transferred to this fund. Cudjoe Regional Wastewater Capital Project Fund. This fund is used to account for the activity associated with the County's commitment to construct collection, transmission and treatment facilities. In FY 2018, total revenues decreased by $8.1 million. In FY 2019 total revenues further decreased by an additional $11.2 million. The reduction of revenues and expenses in this fund is due to the Cudjoe Project nearing its end. Debt Service. The debt service fund received transfers from other funds to cover $17.2 million in principal and interest payments on long-term debt. Proprietary Funds Proprietary fund statements provide the same information as in the business-type activities column of the government-wide statements, but in greater detail and on a fund basis for enterprise funds and internal service funds. Municipal Service District-Waste Enterprise Fund. This fund maintains the County's transfer sites. The County continues to outsource the waste haul-out services through a major contract. Revenues for charges for services (special assessments and tipping fees) decreased increased by 2% due to a reduction in activity related to hurricane clean-up. C-12 Card Sound Bridge Enterprise Fund. The Bridge is an alternative route to the "Eighteen Mile Stretch." The Card Sound Road toll bridge. In FY 2019, the County switched over from a manned toll booth to an electronic tolling operation. Key West Airport Enterprise Fund. Compared to FY 2018, revenue increased by $1.5 million in charges for services while operational expenses increased by $2.2 million in FY 2019. The Key West Airport received $8.6 million in capital grants during the year for such projects as updating the Airport's apron and runway rehabilitations, and a noise mitigation project. Marathon Airport Enterprise Fund. The airport experienced a 2.1% increase, or $.2 million, in revenue from charges for services in FY 2019. The internal service funds include the Worker's Compensation Fund, Group Insurance Fund, Risk Management Fund and the Fleet Management Fund. The self-insurance funds are an important part of the County's operations. Of the four funds, the Risk Management Fund experienced an operating loss. The Risk Management Fund's FY 2019 operating loss of $1.7 million is primarily attributable to transferring insurance recoveries as a result of Hurricane Irma to those funds that actually experienced the loss. In FY 2018, the County projected a $3.3 million shortfall in the Group Insurance Fund by the end of the fiscal year. In response, the County began efforts in FY 2018 to address the stability of the Group Insurance Fund by implementing cost-saving measures referred to as "Shared Diversity" changes. These program changes included increasing contributions for employees, retirees, and dependent coverage and reducing available health benefits to any covered person under the Plan. As a result, instead of a $3.3 million shortfall, the Group Insurance Fund had a $4.4 million positive change in net position as of September 30, 2018. Furthermore, the Group Insurance Fund continued to experience a $.9 million increase in its net position at the end of FY 2019. Capital Assets The County's financial statements present capital assets in two categories: those assets subject to depreciation, such as buildings, infrastructure, and equipment and those not subject to depreciation such as land and construction in progress. At September 30, 2019, the County has $680 million invested in a variety of capital assets, as reflected in the following schedule, which represents a net increase (additions less retirements and depreciation) of$43.2 million or 6.8% from the end of last year. C-13 MONROE COUNTY, FLORIDA CAPITAL ASSETS (IN THOUSANDS) NET OF DEPRECIATION Governmental Activities Business-type Activities Total 2019 2018 2019 2018 2019 2018 Land $ 81,749 $ 77,299 $ 5,648 $ 5,648 $ 87,397 $ 82,947 Construction In Prog. 54,111 34,829 2,358 14,808 56,469 49,637 Buildings 99,785 98,116 45,674 43,981 145,459 142,097 Equipment 35,314 32,872 2,135 2,150 37,449 35,022 Infrastructure 296,734 281,513 54,055 43,094 350,789 324,607 Capacity Rights 2,673 2,704 - - 2,673 2,704 Total $ 570,366 $ 527,333 $ 109,870 $ 109,681 $ 680,236 $ 637,014 The investment in capital assets includes land, buildings, improvements, machinery and equipment, plant and equipment, infrastructure, roads, bike paths, and sidewalks. Major capital asset events during the year included: • The County was neared completion of its largest wastewater collection system, Cudjoe Regional Wastewater Treatment Center. During FY 2019, a portion of these projects totaling over $13.3 million were capitalized. • Completion of Stock Island's roadway and drainage project totaling $4.5 million. • Completion of the Harry Harris Park's boat ramp totaling $1.5 million. • Completion of the Key West Airport's apron project totaling $9.5 million. • Completion of the Key West Airport's drainage project totaling $2.5 million. • Completion of the Solid Waste's transfer stations project totaling over $1 million. Ongoing significant projects include the following: the Plantation Key Courthouse and Detention Center; the Marathon library, the Cudjoe fire station, the Pigeon Key ramp, the West Martello project, the Quarry Road project, and a number of road and drainage projects in Stock Island and Key Largo. Additional information on the County's capital assets can be found in Note 7 on pages F-21 to F-22. Long-Term Debt At September 30, 2019, the County had long-term debt in the amount of $407.8 million. This debt is mainly comprised of direct borrowing of revenue bonds and notes secured by pledges of revenues. Revenue-secured debt for governmental activities was $202.1 million. The County has no general obligation bonds. Net changes to long-term debt consisted of the following: • Issuance of Tax Exempt Revenue Note, Series 2019 for Hurricane Irma recovery - $15.7 million • Clean Water State Revolving Fund Construction Loan Agreement 2014 - $6.1 million • Increases to accrued compensated absences - $.83 million • Increases in the other post-employment benefits liability - $9 million • Increases in the County's proportionate share of FRS and HIS pension liability - $10.6 million • Decreases in the County's LOSAP pension liability - $64,421 C-14 Retirements of long-term debt and other reductions amounted to $77.6 million. The significant increase in long-term debt reductions in FY 2019 was due to the County paying off over $24 million of the $40 million line of credit that was issued to assist with recovery after Hurricane Irma. Moody's Investors Service rates the County's Infrastructure Sales Surtax Revenue Bonds, Series 2007, 2014 and 2016 as "Al". Standard and Poor's Ratings Services have rated these issues "A+". Further details about long-term debt are available in notes to the financial statements pages F-40 through F-44. Budgetary Highlights There were slight variations from the original budget to the amended budget for miscellaneous revenues, taxes, charges for services, and investment income. The more significant variations from the amended budget to the actual were the following: • Public Works Facility Maintenance was under budget in various categories. • The Tax Collector was significantly under budget in FY 2019. • Clerk Commissions and Fees as well as Court-Related costs were less than anticipated. • Human Services and Physical Environment expenditures were down. Economic Factors and Next Year's Budgets and Rates The County's short and long-term goals and policies are developed during the budget process each year. The Board discusses trends, capital projects and policy priorities at public meetings held during the budget planning phase. These priorities are further refined, clarified and adopted during the budget process. The FY 2019 budget was developed in consideration of economic stabilization being experienced and anticipated moderate increases to sales tax revenues. However, the financial outlook for the County was adversely impacted by the aftermath of Hurricane Irma. The County had lower than anticipated revenues throughout FY 2018 budget expected its recovery to continue in FY 2019. The County began receiving its expected FEMA public assistance reimbursements for the hurricane during FY 201. Total budgeted revenues/sources increased between 2018 and 2019. The increase in the overall budget is attributable to investing in the County's economy to assist with the recovery following Hurricane Irma. The largest revenue source of the County's General Fund is ad valorem taxes. The aggregate millage rate for 2019 is 3.5244 which is 3.2% over last year's rate of 3.4149 and 5.86% above the rolled-backed millage rate of 3.2429. After property taxes, the Local Government Half-Cent Sales Tax is the largest revenue source in the General Fund; this revenue source was budgeted to increase over 7% while Licenses and Permits were expected to increase over 3.4%. Budgeted expenditures stayed close to FY 2018 levels with resources continued to be dedicated during FY 2019 on the County's hurricane recovery efforts. Expenditures for capital projects were lower than originally budgeted because resources were diverted. Significant capital projects include the following: • Construction of the Cudjoe Regional Wastewater system. • Canal debris removal. • Roadway and drainage improvement projects for Sexton Cove Estates, Bertha Street, and Stock Island. • Marathon Library. C-15 • Cudjoe Key Fire Station. • Key West International Airport Custom and Border facility expansion. • Plantation Key Courthouse and Detention Center. • Roads/Paving County-wide. Tourism revenues are very important to the Keys' economic health, and the County will continue to advertise the Keys as a tourist destination. Requests for Information This financial report is designed to provide a general overview of the County's finances for all those with an interest in its finances. Questions concerning any of the information provided in this report or requests for additional information should be addressed to the Finance Director, Monroe County Clerk of the Courts and Comptroller, 500 Whitehead Street, Key West, Florida 33040. C-16 This page is intentionally left blank. BASIC FINANCIAL STATEMENTS MONROE COUNTY, FLORIDA STATEMENT OF NET POSITION SEPTEMBER 30, 2019 Primary Government Component Unit Monroe County Governmental Business-type Comprehensive Activities Activities Total Plan Land Authority ASSETS Current Assets: Cash and Cash Equivalents $ 68,283,833 $ 1,793,377 $ 70,077,210 $ 15,224,070 Investments 205,004,431 18,287,102 223,291,533 - Accounts Receivable, Net 2,642,015 837,627 3,479,642 - Assessments Receivable 29,514,362 - 29,514,362 - Internal Balances 534,334 (534,334) - - Due from Other Governmental Units 33,444,821 3,010,742 36,455,563 698,053 Advances from Other Governments 3,027,019 - 3,027,019 - Interest Receivable 525,900 37,120 563,020 - Inventory 21,866 - 21,866 - Prepaid Items 94,502 - 94,502 179,500 Total Current Assets 343,093,083 23,431,634 366,524,717 16,101,623 Noncurrent Assets: Restricted Cash and Cash Equivalents - 8,197,864 8,197,864 - Restricted Accounts Receivable - 323,995 323,995 - Mortgage/Notes Receivable 9,406,750 - 9,406,750 8,769,025 Allowance for Mortgage/Notes Receivable (9,406,750) - (9,406,750) - Land and Other Nondepreciable Assets 135,859,949 8,005,582 143,865,531 33,726,761 Other Capital Assets, Net of Accum Deprec 434,506,417 101,864,496 536,370,913 14,024,623 Total Noncurrent Assets 570,366,366 118,391,937 688,758,303 56,520,409 Total Assets 913,459,449 141,823,571 1,055,283,020 72,622,032 DEFERRED OUTFLOWS OF RESOURCES Related to Pensions 48,447,303 1,760,418 50,207,721 159,752 Related to OPEB 6,513,478 140,648 6,654,126 9,926 Total Deferred Inflows of Resources 54,960,781 1,901,066 56,861,847 169,678 LIABILITIES Current Liabilities: Accounts Payable 21,273,219 2,502,283 23,775,502 - Retainage Payable 965,165 83,410 1,048,575 - Accrued Wages and Benefits Payable 4,645,167 170,185 4,815,352 14,268 Claims and Judgments Payable 3,101,445 - 3,101,445 - Due to Other Governmental Units 6,838,836 21,890 6,860,726 - Accrued Compensated Absences Payable 2,791,983 97,023 2,889,006 26,509 Deposits in Escrow 225,675 67,621 293,296 - Unearned Revenue 3,164 - 3,164 - Accrued Interest Payable 2,941,118 - 2,941,118 - Revenue Notes Payable 4,157,351 - 4,157,351 - Revenue Bonds Payable 4,675,000 - 4,675,000 - Mayfield Interlocal Agreement 2,125,000 - 2,125,000 - Total Current Liabilities 53,743,123 2,942,412 56,685,535 40,777 (Continued) The notes to the financial statements are an integral part of this statement. D-1 MONROE COUNTY, FLORIDA STATEMENT OF NET POSITION -CONTINUED SEPTEMBER 30, 2019 Primary Government Component Unit Monroe County Governmental Business-Type Comprehensive Activities Activities Total Plan Land Authority Noncurrent Liabilities: Accrued Compensated Absences Payable 11,118,690 388,087 11,506,777 50,488 Claims and Judgments Payable - 129,632 129,632 - Revenue Notes Payable 149,856,252 - 149,856,252 - Revenue Bonds Payable 30,310,000 - 30,310,000 - Mayfield Interlocal Agreement 11,000,000 - 11,000,000 - Other Liabilities 450,000 - 450,000 - OPEB Liability 46,359,078 1,289,000 47,648,078 98,926 Net Pension Liability 137,926,220 5,691,863 143,618,083 364,161 Total Noncurrent Liabilities 387,020,240 7,498,582 394,518,822 513,575 Total Liabilities 440,763,363 10,440,994 451,204,357 554,352 DEFERRED INFLOWS OF RESOURCES Related to Pensions 12,679,526 426,589 13,106,115 23,682 Related to OPEB 5,762,408 78,867 5,841,275 2,825 Total Deferred Inflows of Resources 18,441,934 505,456 18,947,390 26,507 NET POSITION Net Investment in Capital Assets 368,242,763 109,870,078 478,112,841 47,751,384 Restricted: Public Safety 43,484,570 - 43,484,570 - Physical Environment 75,670,974 - 75,670,974 - Transportation 14,365,485 8,521,859 22,887,344 - Economic Environment 40,758,296 - 40,758,296 - Land Authority - - - 8,076,982 Court Programs 8,965,112 - 8,965,112 - Human Services 2,850,672 - 2,850,672 - Cultural and Recreation 2,980,982 - 2,980,982 - General 567,666 - 567,666 - Capital Projects 53,332,649 - 53,332,649 - Unrestricted (102,004,236) 14,386,250 (87,617,986) 16,382,485 Total Net Position $ 509,214,933 $ 132,778,187 $ 641,993,120 $ 72,210,851 D-2 MONROE COUNTY, FLORIDA STATEMENT OF ACTIVITIES FOR THE YEAR ENDED SEPTEMBER 30,2019 Program Revenues Operating Capital Charges for Grants and Grants and Functions/Programs Expenses Services Contributions Contributions Primary government: Governmental activities: General Government $ 42,600,073 $ 21,635,273 $ 6,000 $ - Public Safety 137,159,113 22,009,840 5,834,400 25,799,971 Physical Environment 13,827,552 1,451,142 3,296,816 27,538,845 Transportation 10,298,824 117,205 2,688,128 2,452,733 Economic Environment 34,418,745 - 432,563 - Human Services 10,268,471 289,244 1,132,047 - Culture and Recreation 6,931,363 825,751 48,000 82 Court Related 11,096,739 4,634,650 1,122,807 - Interest on Long-Term Debt 7,016,851 - - - Total governmental activities 273,617,731 50,963,105 14,560,761 55,791,631 Business-type activities: Solid Waste 19,828,142 20,308,625 18,411,693 - ToII Bridge 968,264 1,599,076 - - Key West Airport 15,878,519 9,092,112 536,625 8,595,736 Marathon Airport 2,780,432 995,039 481,209 366,021 Total business-type activities 39,455,357 31,994,852 19,429,527 8,961,757 Total primary government $ 313,073,088 $ 82,957,957 $ 33,990,288 $ 64,753,388 General Revenues: Taxes: Ad Valorem Taxes Tourist Impact Tax Gas Tax 1/2 Cent Sales Tax One Cent Infrastructure Tax Tourist Development Tax Other Taxes Other St. Shared Rev, Unrestricted Investment Income Settlements, Insurance Recoveries, Donations, and Other Income Transfers Total General Revenues and Transfers Change in Net Position Total Net Position-October 1 Total Net Position-Ending The notes to the financial statements are an integral part of these statements. (Continued) D-3 Net(Expense) Revenue and Changes in Net Position Primary Government Component Unit Monroe County Governmental Business-type Comprehensive Activities Activities Total Plan Land Authority $ (20,958,800) $ - $ (20,958,800) $ (923,343) (83,514,902) - (83,514,902) - 18,459,251 - 18,459,251 - (5,040,758) - (5,040,758) - (33,986,182) - (33,986,182) - (8,847,180) - (8,847,180) - (6,057,530) - (6,057,530) - (5,339,282) - (5,339,282) - (7,016,851) - (7,016,851) - (152,302,234) - (152,302,234) (923,343) - 18,892,176 18,892,176 - - 630,812 630,812 - - 2,345,954 2,345,954 - - (938,163) (938,163) - - 20,930,779 20,930,779 - (152,302,234) 20,930,779 (131,371,455) (923,343) 86,857,839 - 86,857,839 5,597,686 4,981,287 - 4,981,287 - 6,410,690 - 6,410,690 - 12,498,403 - 12,498,403 - 23,583,643 - 23,583,643 - 39,850,300 - 39,850,300 - 1,077,006 - 1,077,006 - 3,680,786 - 3,680,786 - 8,007,239 798,274 8,805,513 340,901 7,495,951 409,028 7,904,979 - (417,690) 417,690 - - 194,025,454 1,624,992 195,650,446 5,938,587 41,723,220 22,555,771 64,278,991 5,015,244 467,491,713 110,222,416 577,714,129 67,195,607 $ 509,214,933 $ 132,778,187 $ 641,993,120 $ 72,210,851 D-4 MONROE COUNTY, FLORIDA BALANCE SHEET GOVERNMENTALFUNDS SEPTEMBER 30,2019 Fine& HIDTA Governmental Sheriff's General Forfeiture Grants Grants Grants ASSETS Cash and Cash Equivalents $ 14,749,009 $ 7,712,423 $ 830,895 $ 419,078 $ - Investments 25,623,509 9,403,143 - - - Accounts Receivable, Net 99,238 2,319,518 11,831 176 - Assessments Receivable - - - - - Due from Other Funds 5,015,629 4,469,662 - 7,568,985 8,643 Due from Other Governmental Units 816,974 191,833 2,481,350 24,772,329 1,777,487 Mortgages/Notes Receivable - - - 449,079 - Allowance for Mortgages/Notes Receivable - - - (449,079) - Advances from Other Governments - - - - - Interest Receivable 58,300 37,203 - -Inventory 21,866 - - - - Prepaid Items 94,502 - - - - Total Assets $ 46,479,027 $ 24,133,782 $ 3,324,076 $ 32,760,568 $ 1,786,130 LIABILITIES, DEFERRED INFLOWS OF RESOURCES,AND FUND BALANCES Liabilities: Accounts Payable $ 4,240,396 $ 49,547 $ 1,330,887 $ 7,811,062 $ - Retainage Payable - - - 388,759 - Accrued Wages and Benefits Payable 4,314,620 - 174,818 50,999 - Due to Other Funds 669,479 15,364 868,614 6,034,310 2,552,158 Due to Other Governmental Units 1,336,168 40,132 949,757 2,702,245 - Unearned Revenues 3,164 - - - - Deposits in Escrow 12,591 - - - - Total Liabilities 10,576,418 105,043 3,324,076 16,987,375 2,552,158 Deferred Inflows of Resources: Unavailable Revenues - - - 19,083,021 1,720,151 Total Deferred Inflows of Resources - - - 19,083,021 1,720,151 Fund Balances: Nonspendable 116,368 - - - - Restricted - 24,028,739 - - - Committed 10,000,000 - - - - Assigned 9,722,793 - - - - Unassigned 16,063,448 - - (3,309,828) (2,486,179) Total Fund Balances 35,902,609 24,028,739 - (3,309,828) (2,486,179) Total Liabilities, Deferred Inflows of Resources, and Fund Balances $ 46,479,027 $ 24,133,782 $ 3,324,076 $ 32,760,568 $ 1,786,130 The notes to the financial statements are an integral part of these statements. E-1 One Cent Infrastructure Cudjoe Regional Debt Nonmajor Total Infrastructure Revenue Bonds Wastewater Service Governmental Governmental Surtax Series 2014 Project Fund Funds Funds $ 3,397,609 $ 2,811,638 $ 1,492,795 $ 730,824 $ 24,342,275 $ 56,486,546 26,026,173 18,903,268 10,840,179 192,696 93,404,188 184,393,156 - - - - 187,986 2,618,749 - - 25,202,314 - 4,312,048 29,514,362 - - 2,788 - 2,077,922 19,143,629 1,913,209 - - - 1,334,196 33,287,378 - - - - 8,957,671 9,406,750 - - - - (8,957,671) (9,406,750) - - 3,027,019 - - 3,027,019 54,823 44,782 25,813 525 237,129 458,575 - - - - - 21,866 - - - - - 94,502 $ 31,391,814 $ 21,759,688 $ 40,590,908 $ 924,045 $ 125,895,744 $ 329,045,782 $ 795,796 $ 572,844 $ 455,149 $ 11,500 $ 4,915,005 $ 20,182,186 152,617 399,961 - - 23,828 965,165 - - - - 30,841 4,571,278 - - - - 1,750,502 11,890,427 50 - - - 1,795,289 6,823,641 - - - - - 3,164 - - - - 213,084 225,675 948,463 972,805 455,149 11,500 8,728,549 44,661,536 - - 24,788,785 - 4,267,203 49,859,160 - - 24,788,785 - 4,267,203 49,859,160 - - - - - 116,368 30,443,351 20,786,883 15,346,974 912,545 102,511,299 194,029,791 - - - - 5,641,853 15,641,853 - - - - 4,746,840 14,469,633 - - - - - 10,267,441 30,443,351 20,786,883 15,346,974 912,545 112,899,992 234,525,086 $ 31,391,814 $ 21,759,688 $ 40,590,908 $ 924,045 $ 125,895,744 $ 329,045,782 E-2 MONROE COUNTY, FLORIDA RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION SEPTEMBER 30, 2019 Amounts reported for governmental activities in the statement of net position are different because: Ending fund balance - governmental funds $ 234,525,086 Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the governmental funds, net of accumulated depreciation of$157,845,236. 569,590,196 Deferred outflows and inflows of resources are not available in the current period and, therefore, are not reported in the governmental funds. Deferred outflows and inflows of resources at year-end consist of: Deferred outflows related to pension liabilities $ 47,753,556 Deferred outflows related to OPEB 6,448,198 Deferred inflows related to pension liabilities (12,504,790) Deferred inflows related to OPEB liabilities (5,724,048) Total 35,972,916 Unavailable revenue related to wastewater assessment activity and revenue received in advance from both the state and federal governments for grants 49,859,160 are deferred in the governmental funds but not in the government-wide financial statements. Other liability related to a certain legal claim is not reported in governmental funds as current financial resources are not used (see note 19). (450,000) Long-term liabilities are not due and payable in the current period and, therefore, are not reported in the funds. Revenue Bonds Payable (34,985,000) Revenue Notes Payable (154,013,603) Mayfield Interlocal Loan Agreement (13,125,000) OPEB Liability (45,743,078) Net Pension Liability (136,217,692) Accrued Interest Payable (2,941,118) Accrued Compensated Absences (13,682,841) Total (400,708,332) 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. 20,425,907 Net position of governmental activities $ 509,214,933 The notes to the financial statements are an integral part of this statement. E-3 This page is intentionally left blank. MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES GOVERNMENTALFUNDS FOR THE YEAR ENDED SEPTEMBER 30,2019 Fine& HIDTA Governmental Sheriffs General Forfeiture Grants Grants Grants REVENUES: Taxes $ 24,738,760 $ 48,836,640 $ - $ - $ - Licenses and Permits - - - - - Intergovernmental 15,740,724 83,277 20,904,962 26,547,353 3,979,898 Charges for Services 4,406,536 11,981,438 - 143,434 - Fines and Forfeitures 19,450 84,018 - - - Investment Income 1,228,939 507,325 - 25,281 - Miscellaneous 933,544 99,147 - 65,746 525,585 Total Revenues 47,067,953 61,591,845 20,904,962 26,781,814 4,505,483 EXPENDITURES: Current: General Government 30,066,130 713,123 - - - Public Safety 50,807,071 10,977,229 20,904,962 5,841,513 713,956 Physical Environment 516,070 - - 26,326,951 - Transportation 112,981 - - 5,665,879 - Economic Environment 733,196 - - 199,954 - Human Services 8,392,222 - - 1,613,985 - Culture and Recreation 3,503,185 - - 270,797 - Court Related 4,380,341 370,828 - - - Capital Projects - - - - - Debt Service Principal - - - - - Interest - - - - - Other Debt Service Costs - - - - - Total Expenditures 98,511,196 12,061,180 20,904,962 39,919,079 713,956 Excess/Deficiency of Revenues Over(Under) Expenditures (51,443,243) 49,530,665 - (13,137,265) 3,791,527 OTHER FINANCING SOURCES(USES): Payment of Principal - - - (13,000,000) - Transfers from Other Funds 58,805,488 920,088 - 8,917,801 213,714 Transfers to Other Funds (5,762,869) (47,677,024) - (5,302,095) - Issuance of Debt - - - 15,560,000 - Total Other Financing Sources(Uses) 53,042,619 (46,756,936) - 6,175,706 213,714 Net Change in Fund Balances 1,599,376 2,773,729 - (6,961,559) 4,005,241 Fund Balances-October 1 34,303,233 21,255,010 - 3,651,731 (6,491,420) Fund Balances-September30 $ 35,902,609 $ 24,028,739 $ - $ (3,309,828) $ (2,486,179) The notes to the financial statements are an integral part of these statements. E-4 One Cent Infrastructure Cudjoe Regional Debt Nonmajor Total Infrastructure Revenue Bonds Wastewater Service Governmental Governmental Surtax Series 2014 Project Fund Funds Funds $ 23,583,643 $ - $ - $ - $ 61,737,971 $ 158,897,014 - - 1,906,403 - 6,256,712 8,163,115 - - - - 10,830,003 78,086,217 - - - - 15,939,153 32,470,561 - - - - 5,271,951 5,375,419 623,784 512,837 1,088,167 115,495 3,904,353 8,006,181 60,000 - 131,971 - 576,268 2,392,261 24,267,427 512,837 3,126,541 115,495 104,516,411 293,390,768 - - - - 2,835,699 33,614,952 - - - - 37,054,993 126,299,724 - - - - 1,965,722 28,808,743 - - - - 8,004,805 13,783,665 - - - - 33,369,366 34,302,516 - - - - 162,674 10,168,881 - - - - 2,329,589 6,103,571 - - - - 4,781,636 9,532,805 7,443,095 6,588,443 5,697,345 - 2,887,633 22,616,516 - - - 14,843,076 - 14,843,076 - - - 3,778,852 - 3,778,852 - - - 49,230 - 49,230 7,443,095 6,588,443 5,697,345 18,671,158 93,392,117 303,902,531 16,824,332 (6,075,606) (2,570,804) (18,555,663) 11,124,294 (10,511,763) - - - - - (13,000,000) - - 2,659 17,178,630 9,298,562 95,336,942 (7,413,066) - (4,666,579) - (15,160,068) (85,981,701) - - 5,380,370 - - 20,940,370 (7,413,066) - 716,450 17,178,630 (5,861,506) 17,295,611 9,411,266 (6,075,606) (1,854,354) (1,377,033) 5,262,788 6,783,848 21,032,085 26,862,489 17,201,328 2,289,578 107,637,204 227,741,238 $ 30,443,351 $ 20,786,883 $ 15,346,974 $ 912,545 $ 112,899,992 $ 234,525,086 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, 2019 Amounts reported for governmental activities in the statement of activities are different because: Net change in fund balances-total governmental funds $ 6,783,848 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 44,857,461 as depreciation expense. This is the amount by which capital outlays of$61,895,181 exceed depreciation of$17,037,720 in the current period. The net effect of various miscellaneous transactions involving capital assets(i.e., sales and donations) is to decrease net position. The largest component included in this number are (996,519) amounts capitalized in CIP in the prior year which, when completed, were below the County's capitalization threshold. Debt issuance is reported as revenue in the governmental funds as current financial resources are available, but as a long-term liability on the Statement of Net Position. (20,940,370) Payment of long-term debt is reported as an expenditure in the Governmental funds as current financial resources are used, but a reduction of long-term liabilities in the statement 27,843,076 of net position. Some expenses reported in the statement of activities do not require the use of current financial resources and, therefore, are not reported as expenditures in the governmental funds: Change in capitalized interest on long-term debt $ (719,094) Change in accrued interest (2,518,905) Change in accrued litigation liability (450,000) Change in compensated absences (804,233) Change in OPEB liability (1,978,065) Change in net pension liability and related deferred outflows and inflows (17,660,903) (24,131,200) 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 10,205,571 statement of activities. The net revenues of internal service funds(funds used to charge the costs of certain activities to individual funds)are reported with governmental activities. (1,898,647) Change in net position of governmental activities $ 41,723,220 The notes to the financial statements are an integral part of this statement. E-6 This page is intentionally left blank. MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL GENERALFUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 25,056,287 $ 25,056,287 $ 24,738,760 $ (317,527) Intergovernmental 14,893,998 14,893,998 15,740,724 846,726 Charges for Services 4,021,989 4,021,989 4,406,536 384,547 Fines and Forfeitures 8,000 8,000 19,450 11,450 Investment Income 131,100 131,100 1,228,939 1,097,839 Miscellaneous 637,100 710,860 933,544 222,684 Total Revenues 44,748,474 44,822,234 47,067,953 2,245,719 EXPENDITURES: Current: General Government: Board of County Commissioners Admin 1,964,291 1,964,291 1,833,208 131,083 Clerk to BOCC- Financial Package 5,000 5,000 - 5,000 Gov't Enterprise Management System 75,000 75,000 29,355 45,645 Clerk Comm and Fees- Noncourt 4,214,886 4,214,886 3,959,226 255,660 Insurances-Supervisor of Elections 175,273 175,273 135,553 39,720 Promotional Advertising 5,000 5,000 1,291 3,709 Value Adjustment Board 35,000 35,000 29,990 5,010 Tax Increment Payment 300,000 300,000 295,040 4,960 Employee Suggestion Plan 10,000 10,000 - 10,000 FIRM Study 50,000 50,000 50,000 - Lobbyist 151,432 151,432 124,765 26,667 County Administrator 995,429 1,322,428 1,265,605 56,823 Technical Services 2,554,080 2,580,906 2,443,487 137,419 Technology Replacement 448,857 569,714 554,220 15,494 Grants Administration 224,157 209,158 197,546 11,612 Office of Management and Budget 699,728 599,728 584,838 14,890 Purchasing 91,058 191,059 172,196 18,863 Personnel 614,279 681,599 659,237 22,362 Public Works Management 9,751 9,751 9,531 220 Public Works Facilities Maintenance 8,030,433 8,328,589 8,211,542 117,047 ADA Compliance 50,000 50,000 34,748 15,252 County Attorney 1,461,927 1,476,927 1,387,416 89,511 Tax Collector 5,249,098 6,037,617 2,239,478 3,798,139 Property Appraiser 4,570,722 4,570,722 4,238,033 332,689 Supervisor of Elections 1,594,339 1,594,339 1,433,944 160,395 Quasi External Services 220,000 220,000 175,881 44,119 Hurricane 100,000 100,000 - 100,000 Total General Government 33,899,740 35,528,419 30,066,130 5,462,289 (Continued) The notes to the financial statements are an integral part of these statements. E-7 MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL(CONTINUED) GENERALFUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Public Safety: Emergency Management 493,170 493,170 480,389 12,781 Marathon Emergency Operations Center 79,321 79,321 64,032 15,289 Medical Examiner 704,435 704,435 593,445 110,990 Sheriff Law Enforcement and Corrections 48,117,477 48,975,391 49,036,260 (60,869) Fire Academy 705,846 705,846 594,611 111,235 Fire and EMS LOSAP 48,000 48,000 38,334 9,666 Total Public Safety 50,148,249 51,006,163 50,807,071 199,092 Physical Environment: Extension Service 236,969 236,969 188,614 48,355 Sustainability 692,853 692,853 327,456 365,397 Total Physical Environment 929,822 929,822 516,070 413,752 Transportation: County Engineer 259,586 259,586 112,981 146,605 Total Transportation 259,586 259,586 112,981 146,605 Economic Environment: Literacy Volunteers of America 50,000 50,000 50,000 - Veteran's Affairs 618,426 638,425 592,603 45,822 Veteran's Affairs Transportation 146,819 146,819 90,593 56,226 Total Economic Environment 815,245 835,244 733,196 102,048 Human Services: Middle Keys Guidance Clinic 46,942 46,942 46,942 - Older Americans Volunteer Program 500 500 - 500 Domestic Abuse Shelter 81,500 90,831 90,830 1 Hospice of the Florida Keys - 9,045 (615) 9,660 Florida Keys Outreach Coalition 120,000 130,000 130,000 - Samuel's House 110,000 122,594 122,594 - Womankind 155,000 172,746 172,746 - Grace Jones 60,000 65,000 65,000 - AIDS Help 80,000 89,159 89,159 - Good Health Clinic 110,000 122,594 122,594 - Monroe County Assn for ReMARCable Citizens 200,000 205,000 205,000 - Florida Keys Children's Shelter 195,000 199,000 199,000 - Wesley House 165,000 183,890 183,890 - Florida Keys Area Health Education 61,500 68,541 68,541 - (Continued) The notes to the financial statements are an integral part of these statements. E-8 MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL(CONTINUED) GENERALFUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Human Services (continued): Heron/Peacock 50,000 55,724 55,724 - Kids Come First- FL Keys 40,000 44,579 44,570 9 Boys and Girls Club 120,000 130,000 130,000 - Florida Keys Healthy Start Coalition 60,000 66,869 66,869 - Keys Area Interdenominational Resources 30,000 30,000 30,000 - Star of the Sea Foundation 110,000 122,594 122,594 - Independence Cay 30,000 30,000 30,000 - Anchors Aweigh 20,000 20,000 20,000 - Southernmost Homeless Assist League 10,000 11,145 11,145 - Baker Act LKMC FS 394.463 83,334 88,658 88,658 - Guidance Care Clinic Baker Act Transp 165,000 165,000 165,000 - Guidance Care Clinic/Samuel House-FS 394.76 859,195 859,195 859,195 - Guidance Care Clinic Jail In-House Program 237,227 237,227 193,414 43,813 Historic Florida Keys Foundation 32,450 32,450 32,450 - Animal Shelters 1,552,268 1,552,268 1,394,594 157,674 Welfare Administration 730,397 730,397 710,998 19,399 Welfare Services 1,004,662 929,502 851,748 77,754 Health Care Respite Act 41,905 41,905 3,087 38,818 Bayshore Manor 996,596 996,596 920,720 75,876 Social Service Transportation 1,047,897 1,123,057 1,059,793 63,264 Burton Memorial United Methodist Church 12,000 12,000 12,000 - Keys To Be Change 30,000 33,435 33,410 25 Autism Society of the Keys 40,000 40,000 40,000 - Voices for the Florida Keys Children 15,000 15,000 15,000 - South Florida National Parks 5,000 5,572 5,572 - Total Human Services 8,708,373 8,879,015 8,392,222 486,793 Culture and Recreation: Fine Arts Council 72,765 72,765 72,765 - Lower Keys AARP 4,500 4,500 4,500 - Middle Keys AARP 4,500 4,500 3,769 731 Big Pine Key AARP 4,500 4,500 1,393 3,107 Upper Keys AARP 4,500 4,500 945 3,555 Heart of the Keys Recreation 40,000 40,000 40,000 - Higgs Beach Maintenance 99,722 99,722 99,209 513 Library Admin Support 907,163 907,163 876,282 30,881 Library Key West 882,529 882,529 747,042 135,487 Library Key West Donations 5,500 157,348 53,785 103,563 Library Marathon 458,148 458,148 397,803 60,345 Library Marathon Donations 3,000 12,853 856 11,997 Library Islamorada 348,642 348,642 321,968 26,674 (Continued) The notes to the financial statements are an integral part of these statements. E-9 MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL(CONTINUED) GENERALFUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Culture and Recreation (continued): Library Islamorada Donations 500 4,602 2,451 2,151 Library Key Largo 517,239 517,239 495,206 22,033 Library Key Largo Donations 500 10,113 2,615 7,498 Library Big Pine Key 427,593 427,593 382,494 45,099 Library Big Pine Key Donations 3,000 11,129 102 11,027 Total Culture and Recreation 3,784,301 3,967,846 3,503,185 464,661 Court Related: Law Library 78,280 78,280 73,438 4,842 Guardian Ad Litem 210,396 210,396 130,287 80,109 State Attorney 341,902 341,902 200,555 141,347 Public Defender 751,070 751,070 576,519 174,551 Sheriff Court Security 1,812,219 1,812,219 1,812,219 - Court Administration 2,527 2,527 2,128 399 Court Admin -Judicial Support 166,372 166,372 153,733 12,639 Court Case Management 174,572 174,572 151,469 23,103 Court Admin -Circuit Ct Reporter Svcs 1,675 1,675 1,625 50 Court Admin -Circuit Drug Court 404,364 404,364 347,143 57,221 Court Admin -Pretrial Release 551,799 551,799 513,080 38,719 Ct.Admin- Pretrial Svcs Drug Diversion 213,823 213,823 175,158 38,665 Court Admin - Information Systems 255,724 255,724 242,987 12,737 Total Court Related 4,964,723 4,964,723 4,380,341 584,382 Total Expenditures 103,510,039 106,370,818 98,511,196 7,859,622 Excess/Deficiency of Revenues Over(Under) Expenditures (58,761,565) (61,548,584) (51,443,243) 10,105,341 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (806,496) (25,959) - 25,959 Reserve for Cash Balance (5,000,877) (5,000,877) - 5,000,877 Transfers from Other Funds 57,053,923 60,125,903 58,805,488 (1,320,415) Transfers to Other Funds (2,946,890) (4,012,388) (5,762,869) (1,750,481) Total Other Financing Sources (Uses) 48,299,660 51,086,679 53,042,619 1,955,940 Net Change in Fund Balances (10,461,905) (10,461,905) 1,599,376 12,061,281 Fund Balances-October 1 10,461,905 10,461,905 34,303,233 23,841,328 Fund Balances-September 30 $ - $ - $ 35,902,609 $ 35,902,609 The notes to the financial statements are an integral part of these statements. E-10 MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL FINE AND FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 50,529,196 $ 50,529,196 $ 48,836,640 $ (1,692,556) Intergovernmental - - 83,277 83,277 Charges for Services 9,923,000 9,923,000 11,981,438 2,058,438 Fines and Forfeitures 72,500 72,500 84,018 11,518 Investment Income 110,000 110,000 507,325 397,325 Miscellaneous 1,000 83,324 99,147 15,823 Total Revenues 60,635,696 60,718,020 61,591,845 873,825 EXPENDITURES: Current: General Government: Tax Increment Payment 725,000 725,000 713,123 11,877 Total General Government 725,000 725,000 713,123 11,877 Public Safety: Sheriff Law Enforcement 3,594,273 6,318,073 2,915,723 3,402,350 Sheriff Corrections 3,249,354 3,249,354 2,673,414 575,940 Bond Refunds 25,000 25,000 - 25,000 Law Enforcement Education Assistance 75,000 75,000 75,000 - Correction Facilities 2,577,405 2,577,405 2,495,398 82,007 Medical Air Transport 2,940,109 2,940,109 2,707,943 232,166 Interagency Communications 42,721 42,721 34,446 8,275 Juvenile Detention Cost Share 251,000 251,000 75,305 175,695 Total Public Safety 12,754,862 15,478,662 10,977,229 4,501,433 Court Related: Sheriff Extradition 60,000 80,000 74,499 5,501 Sheriff Court Security 365,839 365,839 296,329 69,510 Total Court Related 425,839 445,839 370,828 75,011 Total Expenditures 13,905,701 16,649,501 12,061,180 4,588,321 Excess/Deficiency of Revenues Over(Under) Expenditures 46,729,995 44,068,519 49,530,665 5,462,146 (Continued) The notes to the financial statements are an integral part of these statements. E-11 MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL(CONTINUED) FINE AND FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) OTHER FINANCING SOURCES (USES): Reserve for Contingencies (2,622,724) (90,904) - 90,904 Reserve for Cash Balance (2,953,144) (2,953,144) - 2,953,144 Transfers from Other Funds 1,400,000 1,529,656 920,088 (609,568) Transfers to Other Funds (47,688,782) (47,688,782) (47,677,024) 11,758 Total Other Financing Sources (Uses) (51,864,650) (49,203,174) (46,756,936) 2,446,238 Net Change in Fund Balances (5,134,655) (5,134,655) 2,773,729 7,908,384 Fund Balances -October 1 5,134,655 5,134,655 21,255,010 16,120,355 Fund Balances -September 30 $ - $ - $ 24,028,739 $ 24,028,739 The notes to the financial statements are an integral part of these statements. E-12 MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL HIDTA SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 21,360,001 $ 20,975,000 $ 20,904,962 $ (70,038) EXPENDITURES: Current: Public Safety: Public Safety 21,331,400 20,975,000 20,904,962 70,038 Excess/Deficiency of Revenues Over(Under) Expenditures 28,601 - - - OTHER FINANCING SOURCES (USES): Transfers to Other Funds (28,601) - - - Total Other Financing Sources (Uses) (28,601) - - - Net Change in Fund Balances - - - - Fund Balances -October 1 - - - - Fund Balances -September 30 $ - $ The notes to the financial statements are an integral part of these statements. E-13 This page is intentionally left blank. MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL GOVERNMENTAL GRANTS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ - $ 72,312,895 $ 26,547,353 $ (45,765,542) Charges for Services - 143,434 143,434 - Investment Income - 1,159 25,281 24,122 Miscellaneous - - 65,746 65,746 Total Revenues - 72,457,488 26,781,814 (45,675,674) EXPENDITURES: Current: Public Safety: Hurricane Irma Recovery - 14,123,575 5,372,186 8,751,389 Emergency Management Base Grant - 299,726 163,559 136,167 Radiological Emergency Preparedness - 143,434 138,903 4,531 Emergency Medical Services Award Grant - 49,759 32,163 17,596 Urban Area Security Initiative Grants - 226,723 134,702 92,021 Total Public Safety - 14,843,217 5,841,513 9,001,704 Physical Environment: Hurricane Irma Canal Debris Removal - 44,892,708 24,865,206 20,027,502 Canal Restoration Project - 1,054,821 264,378 790,443 Exotic Plant Removal - 581,118 320,997 260,121 Park Vulnerability Analysis - 30,000 30,000 - Florida Keys Res Assur Plan - - - - EPA Florida Keys Improve Water Quality - 30,023 2,050 27,973 FWC MC Removal Vessels - 656,820 656,820 - DEP Mobile Vessels - 750,000 187,500 562,500 Monroe County Libraries - 78,000 - 78,000 Total Physical Environment - 48,073,490 26,326,951 21,746,539 Transportation: Scenic Highway Overlooks - 658,078 487,309 170,769 Roadway Projects - 5,726,639 3,127,327 2,599,312 Transportation Planning Prog 2012 - 688,662 166,786 521,876 Pigeon Key Ferry Service - 270,939 235,399 35,540 Pigeon Key Ferry Ramp Repair - 2,284,910 1,649,058 635,852 Total Transportation - 9,629,228 5,665,879 3,963,349 (Continued) The notes to the financial statements are an integral part of these statements. E-14 MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL(CONTINUED) GOVERNMENTAL GRANTS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Economic Environment: Small Cities CDBG-2010 - 120,032 - 120,032 Disaster Recovery CDBG - 175,822 - 175,822 Disaster Recovery Coordinator - 290,715 199,954 90,761 Total Economic Environment - 586,569 199,954 386,615 Human Services: Nutritional Services In Progress - 217,295 39,694 177,601 GCC Male Jail In-house Program - 43,380 38,505 4,875 Title III-B Supportive Services - 178,411 164,367 14,044 Title III-Cl Congregate Meals - 231,426 216,966 14,460 Title III-C2 Home Delivered Meals - 394,383 218,397 175,986 Title III-E Caregiver Support Services - 269,930 150,543 119,387 Low Income Home Energy Program - 624,060 156,806 467,254 Alzheimer's Disease Initiative - 727,686 241,550 486,136 Community Care Disabled Adults - 130,074 57,501 72,573 State Housing Initiative Partnership to WAP - - 2,308 (2,308) Heron Assisted Living - 28,587 28,587 - Drug Court Medical Director Initiative - 28,623 8,800 19,823 Social Services Transportation - 367,996 289,961 78,035 Total Human Services - 3,241,851 1,613,985 1,627,866 Culture and Recreation: State Aid to Libraries - 142,183 88,959 53,224 Historic Florida Keys Foundation - 48,000 48,000 - Harry Harris Park Boat Ramp - 44,600 33,756 10,844 GV Boat Ramp Repair - 100,000 100,000 - Lower Keys Scenic VW Area - 900,000 82 899,918 Total Culture and Recreation - 1,234,783 270,797 963,986 Total Expenditures - 77,609,138 39,919,079 37,690,059 (Continued) The notes to the financial statements are an integral part of these statements. E-15 MONROE COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL(CONTINUED) GOVERNMENTAL GRANTS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Excess/Deficiency of Revenues Over(Under) Expenditures - (5,151,650) (13,137,265) (7,985,615) OTHER FINANCING SOURCES(USES): Payment of Principal - - (13,000,000) (13,000,000) Transfers from Other Funds - 5,798,552 8,917,801 3,119,249 Transfers to Other Funds - (2,786,105) (5,302,095) (2,515,990) Issuance of Debt - - 15,560,000 15,560,000 Total Other Financing Sources (Uses) - 3,012,447 6,175,706 3,163,259 Net Change in Fund Balances - (2,139,203) (6,961,559) (4,822,356) Fund Balances -October 1 - 21139,203 3,651,731 1,512,528 Fund Balances -September 30 $ - $ - $ (3,309,828) $ (3,309,828) The notes to the financial statements are an integral part of these statements. E-16 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S GRANTS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 650,000 $ 4,750,000 $ 3,979,898 $ (770,102) Miscellaneous - - 525,585 525,585 Total Revenues 650,000 4,750,000 4,505,483 (244,517) EXPENDITURES: Current: Public Safety 715,000 745,000 713,956 31,044 Total Expenditures 715,000 745,000 713,956 31,044 Excess/(Deficiency) of Revenues Over/(Under) Expenditures (65,000) 4,005,000 3,791,527 (213,473) OTHER FINANCING SOURCES/(USES): Transfers from Other Funds - - 213,714 213,714 Net Change in Fund Balances - - 4,005,241 4,005,241 Fund Balances -October 1 - - (6,491,420) - Fund Balances -September 30 $ - $ - $ (2,486,179) $ 4,005,241 The notes to the financial statements are an integral part of these statements. E-17 MONROE COUNTY, FLORIDA STATEMENT OF NET POSITION PROPRIETARY FUNDS SEPTEMBER 30,2019 Business-type Activities Enterprise Funds Major Funds Municipal Card Key Service District Sound West Waste Bridge Airport ASSETS Current Assets: Cash and Cash Equivalents $ 566,988 $ 655,848 $ 566,498 Investments 13,232,780 1,713,868 2,271,130 Accounts Receivable, Net 96,650 38,005 666,207 Due from Other Funds 10,637 - 229,472 Due from Other Governmental Units 2,115,065 876 658,380 Interest Receivable 25,085 4,081 5,408 Total Current Assets 16,047,205 2,412,678 4,397,095 Noncurrent Assets: Restricted Cash and Cash Equivalents - - 8,031,612 Restricted Accounts Receivable - - 323,995 Land and Other Nondepreciable Assets 3,629,622 50,000 3,315,081 Capital Assets, Net of Accum Depreciation 1,834,663 9,461,549 77,999,300 Total Noncurrent Assets 5,464,285 9,511,549 89,669,988 Total Assets 21,511,490 11,924,227 94,067,083 DEFERRED OUTFLOWS OF RESOURCES Related to Pensions 315,360 84,429 1,273,523 Related to OPEB 33,600 12,945 61,418 Total Deferred Outflows of Resources 348,960 97,374 1,334,941 LIABILITIES Current Liabilities: Accounts Payable 1,354,358 2,900 844,039 Retainage Payable 31,716 - 42,380 Accrued Wages and Benefits Payable 46,773 9,981 102,777 Claims and Judgments Payable - - - Due to Other Funds - - - Due to Other Governmental Units 648 33 17,373 Accrued Comp.Absences Payable 19,115 10,728 63,711 Deposits in Escrow 53,315 - 8,000 Total Current Liabilities 1,505,925 23,642 1,078,280 The notes to the financial statements are an integral part of these statements. E-18 Governmental Major Funds Activities Internal Marathon Service Airport Total Funds $ 4,043 $ 1,793,377 $ 11,797,287 1,069,324 18,287,102 20,611,275 36,765 837,627 23,266 1,147,024 1,387,133 86,232 236,421 3,010,742 157,443 2,546 37,120 67,325 2,496,123 25,353,101 32,742,828 166,252 8,197,864 - - 323,995 - 1,010,879 8,005,582 54,000 12,568,984 101,864,496 722,170 13,746,115 118,391,937 776,170 16,242,238 143,745,038 33,518,998 87,106 1,760,418 693,747 32,685 140,648 65,280 119,791 1,901,066 759,027 300,986 2,502,283 1,091,033 9,314 83,410 - 10,654 170,185 73,889 - - 3,101,445 - - 8,726,567 3,836 21,890 15,195 3,469 97,023 55,415 6,306 67,621 - 334,565 2,942,412 13,063,544 (Continued) E-19 MONROE COUNTY, FLORIDA STATEMENT OF NET POSITION (CONTINUED) PROPRIETARY FUNDS SEPTEMBER 30,2019 Business-type Activities Enterprise Funds Major Funds Municipal Card Key Service District Sound West Waste Bridge Airport Noncurrent Liabilities: Accrued Compensated Absences Payable 76,459 42,910 254,842 Claims and Judgments Payable 129,632 - - OPEB Liability 368,000 148,000 550,000 Net Pension Liability 1,050,564 595,408 3,679,576 Total Noncurrent Liabilities 1,624,655 786,318 4,484,418 Total Liabilities 3,130,580 809,960 5,562,698 DEFERRED INFLOWS OF RESOURCES Related to Pensions 81,123 21,209 302,167 Related to OPEB 22,821 9,120 33,148 Total Deferred Inflows of Resources 103,944 30,329 335,315 NET POSITION Investment in Capital Assets 5,464,285 9,511,549 81,314,381 Restricted for: Passenger Facility Charges - - 8,355,607 Customs Service Operations - - - Unrestricted 13,161,641 1,669,763 (165,977) Total Net Position $ 18,625,926 $ 11,181,312 $ 89,504,011 Adjustment to reflect the consolidation of internal service activities related to enterprise funds Net Position of Business-type Activities The notes to the financial statements are an integral part of these statements. E-20 Governmental Major Funds Activities Internal Marathon Service Airport Total Funds 13,876 388,087 172,417 - 129,632 - 223,000 1,289,000 616,000 366,315 5,691,863 1,708,528 603,191 7,498,582 2,496,945 937,756 10,440,994 15,560,489 22,090 426,589 174,736 13,778 78,867 38,360 35,868 505,456 213,096 13,579,863 109,870,078 776,170 - 8,355,607 - 166,252 166,252 - 1,642,290 16,307,717 17,728,270 $ 15,388,405 134,699,654 $ 18,504,440 (1,921,467) $ 132,778,187 E-21 MONROE COUNTY, FLORIDA STATEMENT OF REVENUES,EXPENSES,AND CHANGES IN NET POSITION PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2019 Business-type Activities Enterprise Funds Major Funds Municipal Card Key Service District Sound West Waste Bridge Airport Operating Revenues: Franchise Fees $ 581,819 $ - $ Charges for Services 19,726,806 1,599,076 9,092,112 Miscellaneous 37,615 241,666 11,744 Total Operating Revenues 20,346,240 1,840,742 9,103,856 Operating Expenses: Personnel Services 1,335,548 325,632 3,394,307 Operations 18,522,110 289,431 10,106,260 Depreciation and Amortization 135,903 391,033 2,428,693 Asserted and Paid Claims - - - Total Operating Expenses 19,993,561 1,006,096 15,929,260 Operating Income(Loss) 352,679 834,646 (6,825,404) Nonoperating Revenues(Expenses): Operating Grants 18,411,693 - 536,625 Investment Income 417,773 54,685 286,889 Insurance Recoveries - - - (Loss)on Disposition of Assets - - (36,042) Total Non-Operating Revenues(Expenses) 18,829,466 54,685 787,472 Income(Loss)Before Contributions and Transfers 19,182,145 889,331 (6,037,932) Capital Contributions - - 8,595,736 Transfers from Other Funds 10,309 - Transfers to Other Funds (235,202) (79,776) (483,366) Total Capital Contributions and Transfers (224,893) (79,776) 8,112,370 Change in Net Position 18,957,252 809,555 2,074,438 Total Net Position-October 1 (331,326) 10,371,757 87,429,573 Total Net Position-September 30 $ 18,625,926 $ 11,181,312 $ 89,504,011 Change in Net Position Adjustment to reflect the consolidation of internal service activities related to enterprise funds Change in Net Position of Business-Type Activities The notes to the financial statements are an integral part of these statements. E-22 Governmental Major Funds Activities Internal Marathon Service Airport Total Funds $ - $ 581,819 $ - 995,039 31,413,033 27,174,359 154,045 445,070 383,367 1,149,084 32,439,922 27,557,726 327,922 5,383,409 2,514,520 1,731,222 30,649,023 7,016,260 754,515 3,710,144 63,416 - - 14,910,655 2,813,659 39,742,576 24,504,851 (1,664,575) (7,302,654) 3,052,875 481,209 19,429,527 - 38,927 798,274 936,288 - - 4,167,381 - (36,042) - 520,136 20,191,759 5,103,669 (1,144,439) 12,889,105 8,156,544 366,021 8,961,757 - 1,343,110 1,353,419 (137,385) (935,729) (9,772,931) 1,571,746 9,379,447 (9,772,931) 427,307 22,268,552 (1,616,387) 14,961,098 112,431,102 20,120,827 $ 15,388,405 134,699,654 $ 18,504,440 22,268,552 287,219 $ 22,555,771 E-23 MONROE COUNTY, FLORIDA STATEMENT OF CASH FLOWS PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2019 Business-type Activities Enterprise Funds Major Funds Municipal Card Key Service District Sound West Waste Bridge Airport Operating Activities: Cash Received for Services $ 20,408,874 $ 1,561,071 $ 8,422,698 Cash Received from Insurance Recoveries - - - Cash Payments to Suppliers for Goods and Services (44,245,966) (1,353,783) (10,473,352) Cash Payments for Employee Services (1,264,796) (300,718) (2,882,449) Cash Payments for Claims - - - Cash Received from (Paid to) Other Sources 5,027,282 (843) 1,475,282 Other Operating Revenue 37,698 249,266 8,130 Net Cash Provided by(Used in) Operating Activities (20,036,908) 154,993 (3,449,691) Noncapital Financing Activities: Operating Grants Received 18,411,693 - 536,625 Transfers from Other Funds 10,309 - - Transfers to Other Funds (235,202) (79,776) (483,366) Net Cash Provided by(Used in) Noncapital Financing Activities 18,186,800 (79,776) 53,259 Capital and Related Financing Activities: Proceeds from Capital Grants - - 8,595,736 Acquisition of Capital Assets (482,474) 48,237 (3,226,322) Net Cash Provided by(Used in) Capital and Related Financing Activities (482,474) 48,237 5,369,414 Investing Activities: Investment Income 417,773 54,685 286,889 Proceeds from Sales and Maturities of Investments 12,259,193 4,136,154 2,888,551 Purchase of Investment Securities (19,157,108) (3,741,851) (3,676,017) Net Cash Provided by(Used in) Investing Activities (6,480,142) 448,988 (500,577) Net Increase(Decrease) in Cash and Cash Equivalents (8,812,724) 572,442 1,472,405 Cash and Cash Equivalents: October 1 9,379,712 83,406 7,125,705 September 30 $ 566,988 $ 655,848 $ 8,598,110 The notes to the financial statements are an integral part of these statements. E-24 Governmental Major Funds Activities Internal Marathon Service Airport Total Funds $ 972,249 $ 31,364,892 $ 27,202,105 - - 4,167,381 (1,488,373) (57,561,474) (8,486,094) (326,289) (4,774,252) (2,310,248) - - (18,015,131) (1,314,958) 5,186,763 8,806,143 154,627 449,721 374,632 (2,002,744) (25,334,350) 11,738,788 481,209 19,429,527 - 1,343,110 1,353,419 - (137,385) (935,729) (9,772,931) 1,686,934 19,847,217 (9,772,931) 366,021 8,961,757 - (274,323) (3,934,882) (5,574) 91,698 5,026,875 (5,574) 38,927 798,274 936,288 2,112,991 21,396,889 47,328,764 (2,103,283) (28,678,259) (43,806,273) 48,635 (6,483,096) 4,458,779 (175,477) (6,943,354) 6,419,062 345,772 16,934,595 5,378,225 $ 170,295 $ 9,991,241 $ 11,797,287 (Continued) E-25 MONROE COUNTY, FLORIDA STATEMENT OF CASH FLOWS(CONTINUED) PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2019 Business-type Activities Enterprise Funds Major Funds Municipal Card Key Service District Sound West Waste Bridge Airport Reconciliation of Operating Income(Loss) to Net Cash Provided by(Used in)Operating Activities: Operating Income(Loss) $ 352,679 $ 834,646 $ (6,825,404) Adjustments to Reconcile Operating Income(Loss) to Net Cash Provided by(Used in)Operating Activities: Depreciation and Amortization 135,903 391,033 2,428,693 Nonoperating Income- Insurance Recoveries - - - Change in Assets, Liabilities, and Deferrals: (Increase) Decrease in Accounts Receivable 100,249 (38,005) (20,488) (Increase) Decrease in Due from Other Gov't Units 2,579,890 (876) 1,563,202 (Increase) Decrease in Due from Other Funds 2,493,438 - (85,261) (Increase) Decrease in Interest Receivable 83 7,600 (3,614) Increase(Decrease)in Accounts Payable (1,612,382) (885,699) 267,268 Increase(Decrease)in Retainage Payable (51,633) (178,653) (634,360) Increase(Decrease)in Accrued Wages/Benefits 6,553 1,207 1,438 Increase(Decrease)in Claims/Judgments Payable - - - Increase(Decrease)in Due to Other Funds - - - Increase(Decrease)in Due to Other Gov't Units (37,626) 33 (2,659) Increase(Decrease)in Due to Constitutional Officers (8,420) - - Increase(Decrease)in Comp. Absences Payable (10,185) 1,473 48,482 Increase(Decrease)in Deposits in Escrow 900 - - Increase(Decrease)in Revenue Notes Payable (24,060,741) - - Increase(Decrease)in Unearned Revenue - - (648,926) Increase(Decrease)in OPEB Liability 45,000 19,000 81,000 Increase(Decrease)in Pension Liability 54,271 14,734 229,358 Increase(Decrease)in Deferred Outflows 1,049 (10) 189,566 Increase(Decrease)in Deferred Inflows (25,936) (11,490) (37,986) Total Adjustments (20,389,587) (679,653) 3,375,713 Net Cash Provided by(Used in) Operating Activities $ (20,036,908) $ 154,993 $ (3,449,691) Noncash Investing, Capital, and Financing Activities: Loss on Disposition of Assets $ - $ - $ (36,042) Cash Reconciliation: Unrestricted $ 566,988 $ 655,848 $ 566,498 Restricted - - 8,031,612 Total $ 566,988 $ 655,848 $ 8,598,110 The notes to the financial statements are an integral part of these statements. E-26 Governmental Major Funds Activities Internal Marathon Service Airport Total Funds $ (1,664,575) $ (7,302,654) $ 3,052,875 754,515 3,710,144 63,416 - - 4,167,381 (2,315) 39,441 27,746 (168,039) 3,974,177 35,998 (1,147,024) 1,261,153 30,637 582 4,651 (8,735) 233,535 (1,997,278) (1,469,834) 9,314 (855,332) - (2,549) 6,649 (29,895) - - (3,104,476) - - 8,726,567 105 (40,147) 12,941 - (8,420) - (16,049) 23,721 27,481 - 900 - - (24,060,741) - (20,475) (669,401) - 28,000 173,000 73,000 15,118 313,481 120,880 185 190,790 62,249 (23,072) (98,484) (49,443) (338,169) (18,031,696) 8,685,913 $ (2,002,744) $ (25,334,350) $ 11,738,788 $ - $ (36,042) $ - $ 4,043 $ 1,793,377 $ 11,797,287 166,252 8,197,864 - $ 170,295 $ 9,991,241 $ 11,797,287 E-27 MONROE COUNTY, FLORIDA STATEMENT OF FIDUCIARY NET POSITION FIDUCIARY FUNDS SEPTEM BER 30, 2019 Agency Funds ASSETS Cash and Cash Equivalents $ 8,424,661 Accounts Receivable 42,160 Total Assets $ 8,466,821 LIABILITIES Due to Others $ 5,056,883 Due to Other Governmental Units 3,409,938 Total Liabilities $ 8,466,821 The notes to the financial statements are an integral part of these statements. E-28 This page is intentionally left blank. MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following summary of the more significant accounting policies of the Monroe County, Florida (the "County") is presented to assist the reader in interpreting these financial statements and should be viewed as an integral part of this report. Reporting Entity: Monroe County, Florida is a Non-Charter County established as provided by Article VIII Section I of the Florida Constitution and Section 125 of the Florida Statutes. The Board of County Commissioners (the "Board"), composed of five members, is the legislative body for the County and, as such, budgets and provides funding used by the separate Constitutional Offices with the exception of fees collected by the Clerk of the Circuit Court & Comptroller ("Clerk") and the Tax Collector. The County Administrator serves as the principal executive officer for the Board. In addition, certain designated governmental functions are performed by constitutional officers who are elected at large. The five constitutional officers are: Clerk, Property Appraiser, Sheriff, Supervisor of Elections, and Tax Collector. Although these five officers are operationally autonomous, they do not hold sufficient corporate powers of their own to be considered legally separate component units for financial reporting purposes. Therefore, they are reported together with the Board as part of the primary government. Under the direction of the Clerk, the Monroe County Finance Department maintains the accounting system for the Board's operations, but excludes those of the Clerk, Property Appraiser, Sheriff, Supervisor of Elections, and Tax Collector, each of who maintains their own accounting system. Services provided by the County and accounted for within these financial statements include police services for unincorporated areas of the County; health and social services; emergency medical services; cultural and recreational programs; solid waste services; and other governmental services. Entity status for financial reporting purposes is governed by Statement No. 14, as amended, of the Governmental Accounting Standards Board ("GASB") and Rules of the Auditor General, State of Florida. The GASB is the standard-setting body for the establishment of accounting principles generally accepted in the United States of America ("GAAP") for governmental entities. Determination of the financial reporting entity of the County is founded upon the objective of accountability. Therefore, these financial statements include the County government, the primary government, and the legally separate component units for which operational or financial responsibility rests with the elected officials of the County or for which the nature and significance of their relationship to the County are such that exclusion would cause the financial statements to be misleading or incomplete. All component units of the County have a September 30 fiscal year end. These financial statements include the County's blended component unit. Blended component units are legally separate entities that are in substance part of the County's operation, as they either have governing bodies that are substantively the same as the County or they provide their services exclusively or almost exclusively to the County. The financial transactions of the component unit are merged in with similar transactions of the County as part of the primary government. F-1 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) The blended component unit of the County is as follows: Monroe County Industrial Development Authority ("MCIDA") — The MCIDA was created by Monroe County, Florida Resolution pursuant to Florida Statute 159. The MCIDA serves to assist in financing and refinancing capital projects fostering economic development in the County. The Board serves as the governing board. The MCIDA is not legally required to adopt a budget; however, the County must authorize the issuance of bonded debt. The MCIDA, for financial reporting purposes, is considered a blended component unit of Monroe County, Florida. Neither the MCIDA nor the County has any legal obligation for repayment of the revenue bonds of the MCIDA. As an issuer of "conduit" debt obligations, the MCIDA has no assets, liabilities, or transactions during the current year. Discretely-presented component units are legally separate entities which do not meet the criteria for blending. They are reported in a separate column to emphasize that they are legally separate. The following is a discretely-presented component unit of the County: Monroe County, Florida Comprehensive Plan Land Authority ("MCLA") — The MCLA was created by Monroe County, Florida Ordinance 031-1986 pursuant to Florida Statute 380 and is considered a legally separate entity from Monroe County. Its purpose is to operate a land acquisition program in Monroe County, to implement the Monroe County Comprehensive Plan and address issues created by it. The Monroe County Board of County Commissioners serves as the governing board but there is no financial benefit or burden relationship. Therefore, the MCLA, for financial reporting purposes, is considered a discretely-presented component unit of Monroe County, Florida and is presented as a separate column in the County's financial statements. Complete financial statements for MCLA can be obtained from MCLA's administrative office at 1200 Truman Avenue, Suite 207, Key West, Florida 33040. Basis of Presentation: Government-Wide Financial Statements: The statement of net position and the statement of activities report information about the nonfiduciary activities of the primary government. Fiduciary funds of the government are eliminated from this presentation since these resources are not available for general government funding purposes. These statements provide a consolidated financial picture of the government distinguishing between governmental activities and business-type activities. Governmental activities are primarily financed through taxes and intergovernmental revenues, while business-type activities are primarily financed through charges for services to external parties. The statement of activities presents a comparison between direct expenses of the program revenues for each function of the County's governmental activities, and for each of the business-type activities. Direct expenses are those that are clearly identified with a specific program or segment. Program revenues include (a) fees, fines, and charges for services, and (b) grants and contributions that are restricted for the operating or capital requirements of a specific program. All taxes and other revenues not meeting the criteria for classification as program revenues are reported as general revenues. F-2 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Fund Financial Statements: The fund financial statements provide information about the County's funds, including its fiduciary fund and blended component unit. Separate statements for each fund category — governmental, proprietary, and fiduciary — are presented. The emphasis of fund financial statements is on major governmental and enterprise funds, each displayed in a separate column. All remaining governmental and enterprise funds are aggregated and reported as nonmajor funds. Proprietary fund operating revenues, such as charges for services, result from exchange transactions associated with the principal activity of the fund. Exchange transactions are those in which each party receives and gives up essentially equal values. Nonoperating revenues, such as subsidies and investment earnings,result from non-exchange transactions or ancillary activities. The following are reported as major governmental funds: General Fund — The General Fund is the general operating fund of the County. All general tax revenues and other receipts not required either legally or by accounting principles generally accepted in the United States of America to be accounted for in other funds are accounted for in the General Fund. Fine and Forfeiture Special Revenue Fund—The Fine and Forfeiture Fund is used to account for revenues received from fines and forfeitures imposed from the commission of statutory offenses, ad valorem taxes transferred to the Sheriff and to account for operations of the County's court support system. HIDTA Grants Special Revenue Fund—This fund is to account for all revenues and expenditures for the federal Office of National Drug Control Policy's High Intensity Drug Trafficking Areas grant program. Governmental Grants Special Revenue Fund—The Governmental Grant Fund is used to account for operating revenues and expenditures for governmental grant activity. Sheriff's Grants Special Revenue Fund — The Sheriff's Grant Fund is used to account for operating revenues and expenditures for the Sheriff's grant activity. One Cent Infrastructure Surtax Capital Project Fund — The One Cent Infrastructure Surtax Fund is used to account for capital improvements funded by the One Cent Infrastructure Surtax. Infrastructure Revenue Bonds Series 2014 —The Infrastructure Revenue Bonds Series 2014 Fund is used to account for capital projects funded by the Infrastructure Revenue Bonds Series 2014. Cudjoe Regional Wastewater Capital Project Fund — The Cudjoe Regional Wastewater Capital Project Fund is used to account for the revenues and expenditures for the wastewater infrastructure for the Cudjoe Regional area of Monroe County. Debt Service Fund — The Debt Service Fund is used to account for accumulation of resources for, and payment of, interest and principal on the long-term debt incurred in the issuance of various revenue bonds and notes. F-3 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) The following are reported as major enterprise funds: Municipal Service District-Waste — The Municipal Service District-Waste Fund is used to account for the operations of solid waste collection, disposal and recycling activities. Card Sound Bridge — The Card Sound Bridge Fund is used to account for the operations of Monroe County's Card Sound Toll Bridge. Key West Airport—The Key West Airport Fund is used to account for the operations of Monroe County's Key West International Airport. Marathon Airport—The Marathon Airport Fund is used to account for the operations of Monroe County's Florida Keys Marathon International Airport. The Board also reports the following fund types: Internal Service Funds —Internal service funds are used to account for the financing of workers' compensation insurance, health insurance, general liability insurance, and fleet maintenance services provided by one department to other departments of the County or to other governmental units on a cost reimbursement basis. Agency Funds—These funds account for assets held on behalf of third parties and do not involve the measurement of operating results. Examples include taxes, fees, and fines collected on behalf of other governments. Measurement Focus and Basis of Accounting: Government-Wide and Proprietary Fund Financial Statements — These statements use a flow of economic resources measurement focus and the accrual basis of accounting. Revenues are recognized when earned and expenses are recognized when incurred, regardless of when the related cash flows take place. Amounts reported as program revenues include 1) charges to customers or applicants for goods, services, or privileges provided; 2) operating grants and contributions; and 3) capital grants and contributions, including special assessments. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes. Non-exchange transactions, in which the County gives (or receives) value without directly receiving (or giving) equal value in exchange, include property taxes, grants, entitlements, and donations. On an accrual basis, revenue from grants, entitlements, and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied. F-4 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) The County has chosen to fund the Volunteer Firefighter and Emergency Medical Services Length of Service Award Pension Plan ("LOSAP") on a pay-as-you-go basis. Pension expenditures are made from the General Fund, which is maintained on the modified accrual basis of accounting. Benefits and refunds are recognized when due and payable in accordance with the terms of the LOSAP. The LOSAP has no assets accumulated in a trust that meets the following criteria, outlined in GASB Statements 67 and 68: • Contributions to the pension plan and earnings on those contributions are irrevocable. • Pension plan assets are dedicated to providing benefits to plan members. • Pension plan assets are legally protected from the creditors or employers. Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the County's enterprise funds are charges to customers for sales and services. Operating expenses for enterprise funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. Governmental Fund Financial Statements — These statements use a current financial resources measurement focus and are maintained on the modified accrual basis of accounting. Revenues are recognized when they become susceptible to accrual; that is, when they become both "measurable" and "available" to finance expenditures of the current period. The County considers amounts collected within 60 days after year end to be available and thus recognizes them as revenues of the current year, except for property taxes since such taxes are collected to finance expenditures of the subsequent period. Expenditures are recognized in the accounting period in which the related fund liability is incurred, if measurable. Principal and interest on general long-term debt are recorded as fund liabilities when due or when amounts have been accumulated in the debt service fund for payments to be made early in the following year. Expenditures related to compensated absences are recorded only when leave has been taken. Revenues of the County, which are susceptible to accrual under the modified accrual basis of accounting, include property taxes, gas taxes, sales taxes, grants, interest revenue, and charges for services. In applying the susceptibility-to-accrual concept to intergovernmental revenues, the legal and contractual requirements of the numerous individual programs are used as guidance. There are, however, essentially two types of these revenues. In one, monies must be expended for the specific purpose or project before any amounts will be paid to the County; therefore, revenues are recognized based upon the expenditures recorded. In the other, monies are virtually unrestricted as to purpose of expenditure and substantially irrevocable; i.e., revocable only for failure to comply with prescribed compliance requirements, such as with equal employment opportunity. These resources are reflected as revenues at the time of receipt or earlier if they meet the availability criterion. F-5 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) If revenues are expected to be received later than 60 days following the end of the fiscal year, then a receivable is recorded, along with deferred inflows of resources. Once the funds are received, revenue and cash are recorded and the receivable and deferred inflows of resources are eliminated. Deferred inflows of resources also include grant receipts received in advance when time requirements are the only eligibility requirements that have not been met. The proprietary fund financial statements use a flow of economic resources measurement focus and the accrual basis of accounting. Revenues are recognized when earned and expenses are recognized when incurred, regardless of when the related cash flows take place. Under the terms of the grant agreements, the County funds certain programs by a combination of specific cost-reimbursement grants, categorical block grants, and general revenues. Thus when program expenses are incurred, there are both restricted and unrestricted net position available to finance the program. It is the County's policy to first apply cost-reimbursement grant resources to such programs, followed by categorical block grants, and then by general revenues. Budgets and Budgetary Data: Listed below are the statutory procedures followed by the Board of County Commissioners in establishing the budget for Monroe County: 1) On or before June 1 of each year, the Sheriff, the Clerk, the Tax Collector, the Property Appraiser, and the Supervisor of Elections shall each submit to the Board, a tentative budget for their respective offices for the ensuing fiscal year. 2) Within fifteen days after certification of the ad valorem tax roll by the Property Appraiser, the County Administrator submits to the Board a proposed budget for the fiscal year commencing the following October 1. The budget includes proposed expenditures and the means of financing said expenditures. 3) By Board resolution, a tentative budget is submitted to the public. Public hearings are held to obtain taxpayer comments. 4) Fifteen days after adoption of the tentative budget, a final budget is submitted for review and adoption at a final public hearing. 5) Prior to, or on September 30, the Board's budget is legally enacted through passage of a resolution. Accordingly, all fund types have an adopted budget as required by Florida Statute 129.03. 6) During the year, the County Administrator acts on intradepartmental budget changes that do not alter the total revenue or expenditures budgeted to a cost center. A cost center represents a particular area of Board operations or a department. All other budget changes (whether they are transfers between cost centers or alterations of total revenues and expenditure in a fund) are approved by the Board. Supplemental appropriations were necessary and the budgetary data presented herein was amended by the Board during the year. F-6 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 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 GAAP for that fund type. 10) All appropriations lapse at year end. Use of Estimates: The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America, as applicable to governmental units, requires management to make use of estimates that affect the reported amounts in the financial statements. Actual results could differ from estimates. Encumbrances: Encumbrance accounting, under which purchase orders, contracts, and other commitments for the expenditure of moneys are recorded in the restricted, committed, or assigned fund balance classifications, and is employed as an extension of the statutorily required budgetary process. Under Florida Statutes, appropriations, even if encumbered, lapse at fiscal year-end. The County's intention is to substantially honor these encumbrances under authority provided in the subsequent year's budget. Cash and Cash Equivalents: Cash balances from the majority of funds are pooled for investment purposes. Earnings from such investments are allocated to the respective funds based on applicable cash participation by each fund. The investment pools are managed such that all participating funds have the ability to deposit and withdraw cash as if they were demand deposit accounts. Therefore, all balances representing participants' equity in the investment pools are classified as cash equivalents for purposes of these statements. For investments, held separately from the pools, highly liquid (including restricted assets) with an original or remaining maturity of 90 days or less are considered cash equivalents. 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) U.S. Treasury & Government Guaranteed-U.S. Treasury obligations, and obligations the principal and interest of which are backed or guaranteed by the full faith and credit of the U.S. Government. F-7 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 2) Federal Agency/Government Sponsored Enterprise ("GSE") -Debt obligations, participations or other instruments issued or fully guaranteed by any U.S. Federal agency, instrumentality or GSE. 3) Supranationals — U.S. dollar denominated debt obligations of a multilateral organization of governments where the U.S. is a shareholder and voting member. 4) Corporates —U.S. dollar denominated corporate notes, bonds, or other debt obligations issued or guaranteed by a domestic corporation, financial institution, non-profit, or other entity. 5) Municipals — Obligations, including both taxable and tax-exempt, issued or guaranteed by any State, territory, or possession of the U.S., political subdivision, public corporation, authority, agency board, instrumentality or other unit of local government of any State or territory. 6) Agency Mortgage Backed Securities ("MBS") - MBS are backed by residential, multi-family or commercial mortgages, that are issued or fully guaranteed as to principal and interest by a U.S. Federal agency or government sponsored enterprise, including but not limited to pass-throughs, collateralized mortgage obligations and real estate mortgage investment conduits. 7) Asset-Backed Securities ("ABS") -ABS whose underlying collateral consists of loans, leases, or receivables, including but not limited to auto loans/leases, credit card receivables, student loans, equipment loans/leases, or home-equity loans. 8) Non-Negotiable Certificate of Deposit and Savings Accounts - Non-negotiable interest bearing time certificates of deposit, or savings accounts in banks organized under the laws of the State of Florida or in national banks organized under the laws of the United States and doing business in Florida, provided that any such deposits are secured by the Florida Security for Public Deposits Act, Chapter 280, Florida Statutes. 9) Commercial Paper — U.S. dollar denominated commercial paper issued or guaranteed by a domestic corporation, company, financial institution, trust or other entity, only unsecured debt permitted. 10) Bankers' Acceptances —Bankers' acceptances issued, drawn on, or guaranteed by a U.S. bank or U.S. branch of a foreign bank. 11) Repurchase Agreements — Repurchase agreements that meet specific requirements listed in Monroe County Resolution 032-2019. 12) Money Market Funds — Shares in open-end and no-load money market mutual funds, provided such funds are registered under the Investment Company Act of 1940 and operate in accordance with Rule 2a-7. 13) Intergovernmental Investment Pools — Intergovernmental Investment Pools that are authorized pursuant to the Florida Interlocal Cooperation Act, as provided in Section 163.01, Florida Statutes. All investments are stated at fair value or at amortized cost, which approximates fair value. F-8 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Accounts Receivable: Amounts due from private individuals, organizations, or other governments, which pertain to charges for services rendered, are reported as accounts receivable. Receivables are reviewed periodically to establish or update the provisions for uncollectible amounts. These provisions are estimated based on an analysis of the age of the various accounts. Interfund Balances and Activity: During the course of normal operations, the County has numerous transactions between funds. Examples of these transactions include providing services, constructing assets, matching grants, or servicing debt. These transactions are generally recorded as interfund transfers, except for internal service fund charges, which are reflected as revenues to internal service funds and expenses/expenditures to the funds receiving the services. As part of the consolidation process, to avoid distorting financial results, the interfund activities are eliminated in the General Fund. Interfund activities such as municipal and unincorporated service district's policing, 911, and interagency communications are reported as revenues in the fund that captures the revenue and as an expenditure in the fund which disburses the funds for the service. The offsetting expenditures and revenues are reclassified to interfund transfers. However, interfund security services provided by the Sheriff and used by the airports are not eliminated. Additionally, short-term interfund loans are recorded as cash flow needs arise. As of fiscal year-end, any unpaid amounts related to these transactions are reported as "due from other funds" or "due to other funds" on the fund financial statements. Inventory: Inventory in the General Fund consists of certain supplies, which are stated at cost using the moving average cost method. The inventory is determined by an annual physical count. Inventory is reported as a non-spendable classification of fund balance as these amounts are not in spendable form and are not expected to be converted to cash. Restricted Assets: The use of certain assets of enterprise funds is restricted by specific provisions of bond resolutions and agreements with various parties. Assets so designated are identified as restricted assets on the balance sheet. When both restricted and unrestricted resources are available for use, the hierarchy of enterprise fund spending is to use restricted resources first, and then unrestricted resources as they are needed. Restricted assets are classified as noncurrent if they are for acquisition or construction of capital assets, for liquidation of long-term debt, or are for other than current operations. F-9 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Morts!as!e/Notes Receivable: The mortgages receivable associated with the Governmental Grants and the Local Housing Assistance funds are intended to ultimately be forgiven; as such, they are offset by an allowance for uncollectible accounts. Capital Assets: Capital assets are reported in the applicable governmental or business-type activities column in the government-wide financial statements. Capital assets of the County include property, buildings, equipment, and infrastructure assets (e.g. roads, bridges, curbs and gutters, streets and sidewalks, drainage systems, and lighting systems). Constructed or purchased assets are recorded at historical or estimated historical cost at the time of purchase. Donated assets are recorded at estimated acquisition value at the date of donation. Costs of maintenance and repairs that do not add to the value of assets or extend their useful lives are not capitalized. The County maintains a $1,000 threshold for additions to equipment with an estimated useful life in excess of two years. Buildings are capitalized when the value is $15,000 or greater. Public domain and infrastructure assets represent major expenditures for such items as roads, water and sewer treatment plants and lines, landfill improvements, parks, and drainage systems. Additions and improvements for roads, water, sewer, landfill, and drainage infrastructure are capitalized when the cost amounts to $250,000, while park additions and improvements are capitalized at $25,000. Depreciation has been provided using the straight-line method. The estimated useful lives of the various classes of depreciable capital assets are as follows: Life-Years Buildings 10-50 Equipment 5-10 Intangible Assets 10-15 Infrastructure 10-50 Public Domain Infrastructure 20-50 Capacity Rights 99 Capacity rights represent an intangible asset that arose from a contract with a private wastewater operator that includes wastewater processing capacity for 1,500 equivalent dwelling units for a period of 99 years. The MCLA also has intangible assets consisting of affordable rental housing restrictions applicable to Peary Court in Key West. These restrictions require the housing at Peary Court to be rented at or below the levels set by the City of Key West's Workforce Housing Ordinance. F-10 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Compensated Absences: County policy permits employees to accumulate a limited amount of annual and sick leave, which will be paid to employees upon termination of employment. In the government-wide and proprietary fund financial statements, an expense and a liability for compensated absences and the salary-related payments are recorded as the leave is earned. Deferred Inflows of Resources: Deferred Inflows of Resources represents an acquisition of net position that applies to a future period and therefore will not be recognized as an inflow of resources until that time. The County has four items that qualify for reporting in this category: (1) Unavailable revenues; (2) Advances from Other Governments; (3) Pension-related items; and (4) Other Post-Employment Benefits. The advances from other governments are grants received in advance of meeting the timing requirements for revenue recognition in governmental funds. The governmental funds report unavailable revenues where receipts are not within the 60-day time frame for revenue recognition. The enterprise and internal service funds and governmental and business-type activities report deferred inflows for pension related items and other post-employment benefit items as actuarially determined. Deferred Outflows of Resources: Deferred Outflows of Resources represents an acquisition of net position that applies to a future period and, therefore, will not be recognized as an outflow of resources (expense) until that future time. The enterprise and internal service funds report deferred outflows for pension-related and other post- employment benefit items as actuarially determined. Long-Term Obligations: Long-term debt is reported as a liability in the proprietary fund statement of net position. Long-term debt associated with the County's governmental activities is presented on the government-wide financial statements of the County. In the County's governmental fund financial statements, the face amount of debt issued is reported as another financing source, while principal payments are reported as expenditures. Property Taxes: Property taxes, based on assessed values at January 1, are levied and become due and payable on November 1st of each year. A 4% discount is allowed if the taxes are paid in November, with the discount declining by 1% each month thereafter. Taxes become delinquent on April 1st of each year, and tax certificates for the full amount of any unpaid taxes and assessments must be sold not later than June 1 st of each year. No accrual for the property tax levy becoming due in November of 2019 is included in the accompanying financial statements, since such taxes are collected to finance expenditures of the subsequent period. F-11 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Fund Balance Policies: The focus of fund balance reporting is to clearly communicate the constraints imposed upon resources in governmental funds. The fund balance classifications indicate the level of constraints placed upon how resources can be spent and identify the sources of those constraints. The following five classifications: non-spendable, restricted, committed, assigned, and unassigned, serve to inform readers of the financial statements of the extent to which the Board is bound to honor constraints on the specific purposes for which resources in a fund can be spent. Fund balances of governmental type funds are classified as follows: Non-spendable — Include amounts that cannot be spent because they are either not in spendable form, or for legal or contractual reasons, must be kept intact. This classification includes inventory. Restricted—Include amounts that can be spent only for specific purposes because of constitutional provisions or enabling legislation, or because of constraints externally imposed by creditors, grantors, contributors or the laws or regulations of other governments. Committed — Include amounts that can be used only for the specific purposes determined by a formal action in the form of a resolution of the Board, the County's highest level of decision- making authority. Commitments may be changed or lifted only by the Board taking the same formal action that imposed the constraint originally. Assigned—Include amounts intended by the Board to be used for specific purposes determined by a formal action in the form of a resolution but are neither restricted nor committed. The Board's policy authorizes the County Administrator to assign fund balance based on intentions for use of fund balance communicated by the Board. Unassigned — The residual classification of the General Fund. Only the General Fund reports a positive unassigned fund balance. Other governmental funds might report a negative balance in this classification, as the result of overspending for specific purposes for which amounts had been restricted, committed, or assigned. Unassigned fund balance does not necessarily represent the amount of fund balance that can be appropriated. The Board has the responsibility of responding to emergency disaster and has committed $10 million in the General Fund's disaster reserve funds to ensure adequate cash flow is available in post-disaster situations. The Board has defined unrestricted General Fund balance as the amount of fund balance that the Board has placed constraints on its use (committed or assigned fund balance) plus the fund balance that does not have any specific purpose identified for the use of those net resources (unassigned fund balance). F-12 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) The Board's policy on unrestricted general fund balance is to achieve and maintain an unrestricted General Fund balance equal to four months of budgeted expenditures. The Board considers a balance of less than four months to be a cause for concern, barring unusual or deliberate circumstances, and a balance of more than six months as excessive. Since this is a plan for accumulating resources rather than a limitation on how existing resources can be spent, the fund balance policy does not affect the classification of fund balance and is included in the unrestricted fund balance. 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. The County spends restricted amounts first, when both restricted and unrestricted fund balance is available, unless prohibited by legal documents, grant agreements or contracts. Additionally, the County uses committed fund balance, followed by assigned fund balance and then unassigned fund balance when expenditures are incurred for purposes for which amounts in any of the unrestricted fund balance classifications could be used. Fund Deficits: The County reported two funds with deficits at September 30, 2019: ($3,309,828) in the Governmental Grants Fund and ($2,486,179) in the Sheriff's Grants Fund. On September 10, 2017, the County experienced a damaging hurricane. The hurricane's recovery efforts resulted in the reported fund deficits because the County did not receive reimbursement for state and federal disaster aid by September 30, 2019. Net Position: Net position in the proprietary fund financial statements is classified as net investment in capital assets; restricted and unrestricted. Restricted net position of$8,521,859 indicates constraints on resources that are either externally imposed by creditors, grantors, contributors, or laws or regulations of other governments or imposed by law through state statute. New Accounting Pronouncement: Effective October 1, 2018, the County adopted the provisions of GASB Statement No. 88, Certain Disclosures Related to Debt, including Direct Borrowings and Direct Placements. The primary objective of this statement is to improve the information that is disclosed in the notes relating to debt, including direct borrowings and direct placements. This statement requires additional essential information related to debt be disclosed to the notes of the financial statements, including unused lines of credit; assets pledged as collateral for the debt; and terms specified in debt agreements related to significant events of default with finance-related consequences and significant subjective acceleration clauses. F-13 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 2 —CASH, CASH EQUIVALENTS,AND INVESTMENTS The County maintains a cash and investment pool available for use by all funds except those whose cash and investments must be segregated due to bond covenants or other legal restrictions. As of September 30, 2019, the carrying value of the County's deposits and investments, with their respective credit ratings, are as follows: Valuation 6 Months Measurement Fair Less than to 1 to 5 Over 5 Investment Type Credit Rating Method Value 6 Months 1 Year Years Years Demand and Time Deposits N/A N/A $ 78,275,074 $ 78,275,074 $ $ $ FL CLASS Investments AAAm Amortized Cost 30,426,640 30,426,640 FL PALM&FL PALM Term Pooled AAA Amortized Cost 32,357,122 32,357,122 Asset-Backed Security(ABS) AAA-NR Fair Value-Level 18,262,922 - 15,601,552 2,661,370 Municipal Bonds AA-to AAA Fair Value-Level 4,758,687 3,480,348 1,278,339 Corporate Note A to BBB+ Fair Value-Level 7,009,555 - 7,009,555 - Federal Agency AA+ Fair Value-Level 16,961,839 4,497,291 12,464,548 - - Federal Agency Collateralized Mortgage Obligation AA+ Fair Value-Level 6,894,200 - - 5,633,749 1,260,451 Federal Agency Mortgage-Backed Security AA+ Fair Value-Level 12,919,228 - - - 12,919,228 U.S.Treasury AA+ Fair Value-Level 93,701,340 58,298,052 12,007,736 23,395,552 - Total Fair Value $301,566,607 $203,854,179 $ 24,472,284 $55,120,756 $18,119,388 The County categorizes its fair value measurements within the fair value hierarchy established by GAAP. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. Level I securities are valued using direct observable unadjusted quoted prices in active markets for identical assets. Level 2 securities are valued using observable inputs other than quoted market prices in active markets. There are no restrictions or limitations on withdrawals; however, FLCLASS may, on the occurrence of an event that has a material impact on liquidity or operations, impose restrictions on withdrawals for up to 48 hours. Credit Risk and Concentration of Credit Risk — The Board approved and adopted a new Investment Policy ("Policy") in January 2019. The Policy outlines permitted investments, and establishes limitations on portfolio composition, by both investment type and by issuer, in order to control concentration of credit risk. The following table identifies the investment requirements and allocation limits on security types, issuers, and maturities as established by the County. Under the Policy, the Clerk has the option to further restrict investment percentages from time to time based on market conditions, risk, and diversification strategies. The percentage allocation requirements for investment types and issuers are calculated based on the original cost at the time of purchase of each investment. F-14 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 2 —CASH, CASH EQUIVALENTS,AND INVESTMENTS (continued) Portfolio Per Issuer Investment Maximum Maximum Minimum Ratings Maximum Type (%) (%) Requirement' Maturity U.S.Treasury 100% 5.50 Years Government National 0 40% (5.50 Years Mortgage Association 100/o N/A avg.life Other U.S. Government 10% for GNMA) Guaranteed(e.g.AID, GTC Federal Agency/GSE: FNMA,FHLMC, 40%3 FHLB,FFCB s 75% N/A 5.50 Years Federal Agency/GSE 10% other than those above Supranationals Highest ST or Highest LT Rating where U.S.is a shareholder 25% 10% Categories 5.50 Years and voting member (A-1/P-1,AAA/Aaa, or equivalent) Highest ST or Three Highest Corporates 50%2 5% LT Rating Categories 5.50 Years (A-1/P-1,A-/A3 or equivalent) Highest ST or Three Highest Municipals 25% 5% LT Rating Categories 5.50 Years SP-1/MIG 1,A-/A3, orequivalent) Agency Mortgage-Backed o 0 3 5.50 Years Securities("MBS") 25% 40% N/A Avg.Life Asset-Backed Securities o o Highest ST or LT Rating 5.50 Years ("ABS") 25% 5/o (A-1+/P-1,AAA/Aaa, or equivalent) Avg.Life Non-Negotiable o None, if fully Collateralized Bank Deposits 50/o collateralized None, if fully collateralized. 2 Years or Savings Accounts Commercial Paper 50%2 5% Highest ST Rating Category 270 Days (A-1/P-1, or equivalent) Bankers'Acceptances 10%2 5% Highest ST Rating Category 180 Days (A-1/P-1, or equivalent) Counterparty(or if the counterparty is not rated by an NRSRO,then the counterparty's parent)must be rated in Repurchase Agreements 40% 20% the Highest ST Rating Category 1 Year (A-1/P-1, or equivalent) If the counterparty is a Federal Reserve Bank,no rating is required F-15 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 2 —CASH, CASH EQUIVALENTS,AND INVESTMENTS (continued) Portfolio Per Issuer Investment Maximum Maximum Minimum Ratings Maximum Type (%) (%) Requirement' Maturity Highest Fund Rating by all NRSROs Money Market Funds 50% 25% who rate the fund N/A (AAAm/Aaa-mf,or equivalent) Highest Fund Quality and Volatility Intergovernmental Pools o o Rating Categories by all NRSROs ("LGIPs") 50/0 25/o who rate the LGIP, N/A (AAAm/AAAf, S1, or equivalent) Florida Local Government Highest Fund Rating by all NRSROs Surplus Funds Trust Funds 25% N/A who rate the fund N/A ("Florida Prime") (AAAm/Aaa-mf,or equivalent) Notes: Rating by at least one SEC-registered Nationally Recognized Statistical Rating Organization("NRSRO"),unless otherwise noted. ST=Short-term;LT—Long-term. 2 Maximum allocation to all corporate and bank credit instruments is 50%combined. 3 Maximum exposure to any one Federal agency,including the combined holdings of Agency debt and Agency MBS,is 40%. 4 The maturity limit for MBS and ABS is based on the expected average life at time of settlement,measured using Bloomberg or other industry standard methods. s Federal National Mortgage Association("FNMA");Federal Home Loan Mortgage Corporation("FHLMC");Federal Home Loan Bank or its District banks("FHLB");Federal Farm Credit Bank("FFCB'). At September 30, 2019, the portion of the County's investment portfolio invested in Federal instrumentalities is detailed as follows: Percent of Investment Issue Portfolio Federal National Mortgage Association 5.48% Federal Home Loan Mortgage Corporation 2.28% Federal Agency Mortgage-Backed Security 5.91% Federal Agency Collateralized Mortgage Obligations 3.15% Custodial Credit Risk — The Policy requires bank deposits to be 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 Federal Deposit Insurance Corporation for the first $250,000 at each institution and the remaining balances are insured 100% by the State of Florida collateral pool, a multiple institution pool with the ability to assess its members for collateral shortfalls if a member institution fails. F-16 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 2 —CASH, CASH EQUIVALENTS,AND INVESTMENTS (continued) 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, 2019, 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 24 months. The Policy limits the investment of noncurrent operating funds to 5.50 years. Restricted Cash and Cash Equivalents — The County has the following unrestricted and restricted cash and cash equivalents at September 30, 2019: Demand Cash and Cash Equivalents Deposits Governmental Activities Governmental Funds $56,486,546 Internal Service Funds 11,797,287 Business-Type Activities 1,793,377 Total Unrestricted Cash and Cash Equivalents 70,077,210 Restricted Cash and Cash Equivalents Business-Type Activities 8,197,864 Total Cash and Cash Equivalents $78,275,074 In the Sheriff's 911 Wireless Fund, cash in the amount of$1,342,169 must be maintained in a separate account according to statute. This cash may only be used for capital expenditures directly related to establishing and provisioning E911 services, which may include next generation development. As of September 30, 2019, the fiduciary funds had a cash balances totaling $8,424,661 in demand deposits. NOTE 3 —RESTRICTED ASSETS Restricted assets in the Enterprise Funds include those assets created by resolutions adopted by the County for the airport passenger facility charges and customs service operations. Total restricted assets as of September 30, 2019 are as follows: Cash and Cash Accounts Equivalents Receivable Total Key West Airport Passenger Facility Charges $8,031,612 $ 323,995 $8,355,607 Marathon Airport Customs Service Operations 166,252 - 166,252 $8,197,864 $ 323,995 $8,521,859 F-17 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 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: Alowance for Accounts Uncollectible Accounts Service Provided Receivable Accounts Receivable, Net Governmental General Fund Misc $ 103,614 $ 4,376 $ 99,238 Fine &Forfeiture Fund Air Amb Svc 24,702,870 22,383,352 2,319,518 HIDTA Grants Misc 11,831 - 11,831 Governmental Grants Misc 843 667 176 Non-Major Funds: - Fire and Ambulance Dist 1 - Misc Ground Amb Svc 2,111,445 1,968,933 142,512 Other Nonmaj or Funds Misc 45,474 45,474 Internal Service Funds Misc 23,266 - 23,266 Total Governmental Activities 26,999,343 24,357,328 2,642,015 Business-Type Activities MSD-Waste Fund: Tipping Fees 107,590 11,280 96,310 Solid Waste Franchise 340 - 340 Card Sound Road Tolls 38,005 - 38,005 Key West Airport Rent, Misc 669,964 3,757 666,207 Marathon Airport Rent, Misc 36,765 - 36,765 Total Business-Type Activities 852,664 15,037 837,627 Total Accounts Receivable $ 27,852,007 $ 24,372,365 $ 3,479,642 The Board passed Resolutions 405-2018 and 407-2018 approving air and ground ambulance billing write offs, respectively, of$952,129 and $408,806 for fiscal year 2019. F-18 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 5 —ASSESSMENTS RECEIVABLE The County has been improving water quality by replacing cesspits and septic systems with a series of central wastewater collection and treatment systems. The County has funded these projects with state grants and loans, local infrastructure sales surtax, and special assessments levied on the property owners. The property owners have the option of paying their special assessments up front or on an installment basis added to their real estate tax bills. Revenue is recognized on the modified accrual basis. Any remaining assessment owed is recorded as a receivable with an offset to deferred inflows of resources for those amounts that are not available. NOTE 6—MORTGAGES RECEIVABLE Mortgages receivable at September 30, 2019 consist of the following: Major Governmental Funds—Governmental Grants Fund: Second Mortgages Receivable from individuals, collateralized by personal residences. Payment of principal deferred for 10 years from date of note. Principal is amortized in equal monthly amounts starting in year 6 until 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 30 days of sale/transfer or cessation of primary residence. $ 449,079 Nonmajor Governmental Funds—Local Housing Assistance: Second Mortgages Receivable from individuals, collateralized by personal residences. Commencing in year 16 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. 16,565 Second Mortgages Receivable from individuals, collateralized by personal residences. Principal payments shall be deferred for the term of the first mortgage loan, or until the date the last payment is due on the first mortgage. Interest is not charged on the mortgages unless the mortgagor is in default, in which case the interest rate is 12% per annum from the date when payment of the second is due. The entire balance of the loan is intended to be forgiven. However, in the event the home is sold, transferred, rented, refinanced or the first mortgage loan is satisfied, the entire mortgage balance is due. 7,800,591 F-19 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 6—MORTGAGES RECEIVABLE (continued) Second Mortgages Receivable from individuals, collateralized by personal residences. The entire balance of the mortgages will be forgiven upon maturity, provided that the mortgagor complies with the mortgage covenants. The mortgages are interest free. 487,848 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. 846 Florida Homebuyer Opportunity Tax Credit, Second Mortgages Receivable from individuals, collateralized by personal residences. Interest is 6% per annum, except if paid in full within first 18 months of repayment period then interest rate shall be 0% from the date when the first payment is due. 16,000 Second Mortgages Receivable from individuals, collateralized by personal residences. The entire balance of the mortgages will be forgiven upon maturity, provided that the mortgagor complies with the mortgage covenants. The mortgages are interest free. 425,500 Disaster Mitigation Loans that will be deferred for a period of ten years with a 0% interest rate. The entire balance of the mortgages will be forgiven at a rate of 20% per year upon maturity, provided that the mortgagor complies with the mortgage covenants. The mortgages are interest free. 210,321 Total Nonmajor Governmental Funds-Local Housing Assistance 8,957,671 Total Mortgages Receivable $9,406,750 The mortgages receivable associated with the governmental grants are offset by an allowance for uncollectible accounts of $449,079. As the mortgages receivable associated with the Local Housing Assistance fund are intended to ultimately be forgiven, an allowance for uncollectible accounts of $8,957,671 has been established. F-20 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 7—CAPITAL ASSETS Capital asset activity for the year ended September 30, 2019 is shown in the following table. Internal service fund capital asset information is included in the governmental activities on the government-wide financial statements, because the internal service funds predominately serve those activities. On September 10, 2017, Monroe County sustained catastrophic damage county-wide due to a direct hit from Hurricane Irma. As a result, a number of the County's assets sustained storm-related damage. Throughout FY 2018 and FY 2019, repairs and replacements were being made to damaged assets in accordance with guidelines established by the Federal Emergency Management Agency ("FEMA"). Most repairs and replacements will be financed with reimbursements from FEMA or insurance recoveries. Beginning Ending Balance Additions Reductions Balance Governmental Activities: Capital assets not depreciated: Land $ 77,298,661 $ 4,450,155 $ - $ 81,748,816 Construction in progress 34,828,892 46,638,772 (27,356,531) 54,111,133 Total capital assets not depreciated 112,127,553 51,088,927 (27,356,531) 135,859,949 Capital assets depreciated: Buildings 167,505,567 6,748,016 (1,580,897) 172,672,686 Equipment 87,558,921 7,315,088 (3,448,323) 91,425,686 Infrastructure 330,229,013 22,704,024 - 352,933,037 Capacity rights 3,150,000 - - 3,150,000 Total assets depreciated 588,443,501 36,767,128 (5,029,220) 620,181,409 Less accumulated depreciation for: Buildings (69,389,504) (3,498,060) - (72,887,564) Equipment (54,686,940) (6,024,960) 4,600,597 (56,111,303) Infrastructure (48,715,973) (7,482,882) - (56,198,855) Capacity rights (445,452) (31,818) - (477,270) Total accumulated depreciation (173,237,869) $(17,037,720) $ 4,600,597 (185,674,992) Total capital assets depreciated,net 415,205,632 434,506,417 Governmental funds,capital assets,net $ 527,333,185 $ 570,366,366 F-21 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 7—CAPITAL ASSETS (continued) Business-Type Activities: Capital assets not depreciated: Land $ 5,647,606 $ - $ - $ 5,647,606 Construction in progress 14,807,859 5,232,972 (17,682,855) 2,357,976 Total capital assets not depreciated 20,455,465 5,232,972 (17,682,855) 8,005,582 Capital assets depreciated: Land improvements 212,925 - - 212,925 Buildings 62,299,393 3,307,631 - 65,607,024 Equipment 5,923,808 487,582 (441,882) 5,969,508 Infrastructure 69,989,119 12,894,672 (305,216) 82,578,575 Total assets depreciated 138,425,245 16,689,885 (747,098) 154,368,032 Less accumulated depreciation for: Land Improvements (212,925) - - (212,925) Buildings (18,317,782) (1,614,904) - (19,932,686) Equipment (3,773,166) (467,390) 405,936 (3,834,620) Infrastructure (26,895,455) (1,627,850) - (28,523,305) Total accumulated depreciation (49,199,328) $ (3,710,144) $ 405,936 (52,503,536) Total capital assets depreciated,net 89,225,917 101,864,496 Business-type activities, capital assets,net $ 109,681,382 $ 109,870,078 Depreciation was charged to functions/programs on the government-wide statement of activities of the County as follows: Governmental Activities: Business-Type Activities: General Government $ 2,148,587 Municipal Service District-Waste $ 135,902 Public Safety 5,893,034 Card Sound Bridge 391,033 Physical Environment 5,186,165 Key West Airport 2,428,693 Transportation 1,930,535 Marathon Airport 754,516 Economic Environment 26,442 Human Services 259,228 Total Business-Type Activities $3,710,144 Culture and Recreation 973,069 Court-Related 656,660 Total Governmental Activities $17,037,720 F-22 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 8 —POST EMPLOYMENT BENEFITS OTHER THAN PENSION General Information about the Other Post-Employment Benefits: Plan Description — The Board administers a single-employer defined benefits healthcare plan (the "Plan"). Section 112.0801, Florida Statutes, requires the County to provide retirees and their eligible dependents with the option to participate in the Plan if the County provides health insurance to its active employees and their eligible dependents. The Plan provides medical coverage, prescription drug benefits, and life insurance to both active and eligible retired employees. The Plan does not issue a publicly available financial report. No assets are accumulated in a trust that meets the criteria as set forth in GASB Statement No. 75. The Board may amend the plan design, with changes to the benefits, premiums and/or levels of participant contribution at any time. In an open session, on at least an annual basis and prior to the annual enrollment process, the Board approves the rates for the coming calendar year for the retiree and County contributions. The Plan includes participants from the Board, each Constitutional Officer, and the MCLA. The Board is responsible for funding all obligations not funded on a pay-as-you-go basis by Constitutional Officers or the MCLA. However, the following disclosures are based only on the Board's and the Constitutional Officers' (the County's) share of the net Other Post-Employment Benefits ("OPEB") obligation since the MCLA's discrete financial statements reports its share of OPEB obligation. Benefits Provided — Employees who retire as active participants in the Plan and were hired on or after October 1, 2001 may continue to participate in the Plan by paying the monthly premium established annually by the Board. Employees who retire as active participants in the Plan, were hired before October 1, 2001, have at least ten years of full-time service with the County and meet the retirement criteria of the Florida Retirement System ("FRS") but are not eligible for Medicare, may maintain group insurance benefits with the County following retirement, provided that the retiring employee contributes the amounts as shown in the following table. Contribution as Percentage of Annual Actuarial Rated) Plan Years of Service with Monroe Count Year 25+ 20-24 10-19 2018 HIS 17% 18% 2019 HIS 18% 26% 2020 HIS 20% 34% 2021 HIS 22% 42% 2022 & Thereafter HIS 25% 50% (1) The new retiree contributions began a five-year phased-in approach beginning January 1, 2018. (2) Participation in the Plan is at a cost equal to the FRS Health Insurance Subsidy(HIS)for ten years of service(currently$5 per month for each year of service credit at retirement with a minimum HIS payment of$30 and a maximum HIS payment of$150 per month). F-23 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 8 —POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued) Retirees who have met the requirements for early retirement, have not achieved age 60 and whose age and years of service do not equal 70 (rule of 70) must pay the standard monthly premium until the age criteria or the rule of 70 is met. At that time, the retiree's cost of participation will be based on the preceding table. Surviving spouses and dependents of participating retirees may continue in the Plan if eligibility criteria specific to those classes are met. An employee who retires as an active participant in the Plan, was hired prior to October 1, 2001, has at least ten years of full-time service with the County, and meets the retirement criteria of the FRS and is eligible for Medicare at the time of retirement or becomes eligible for Medicare following retirement, may maintain group health insurance benefits with the County following retirement, provided the retiring employee contributes the Actuarial Rate for Medicare retirees as determined by the actuarial firm engaged by the County, less a$250 per month County subsidy. Alternatively, retirees meeting these criteria may elect to leave the County health plan and receive a $250 per month payment from the County,payable for the lifetime of the retiree. Employees Covered by Benefit Terms — Eligibility for post-employment participation in the Plan is limited to full time employees of the County and the Constitutional Officers. At September 30, 2019, there were no terminated employees entitled to deferred benefits. The membership of the Board's medical plan consisted of: Active Employees 1,244 Retirees and Beneficiaries Currently Receiving Benefits 422 Total Membership 1,666 Contributions —The Board establishes, and may amend, the contribution requirements of Plan members. The required contribution is based on pay-as-you-go financing requirements, net of member contributions. Total OPEB Liability: The County's total OPEB liability of $47,648,078 was measured as of September 30, 2019, and was determined by an actuarial evaluation as of December 19, 2019. Actuarial Methods and Assumptions — The valuation dated December 19, 2019, as of September 30, 2019, was prepared using generally accepted actuarial principles and practices, and relied on unaudited census data and medical claims data reported by the Board. F-24 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 8 —POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued) The total OPEB liability for the Board in the September 30, 2019 actuarial valuation was determined using the following actuarial assumptions and other inputs, applied to all periods included in the measurement, unless otherwise specified: Actuarial Cost Method Entry Age Normal based on level of percentage of projected salary. Inflation Rate 3.0%per annum Salary Increase Rate 3.5%per annum Discount Rate 4.18%per annum (Beginning of Year) 2.66%per annum (End of Year) Source: Bond Buyer 20-Bond GO index Medical Consumer Price Index Trend 3.0%per annum Marriage Rate The assumed number of eligible dependents was based on the current proportions of single and family contracts in the census provided by the Board. Spouse Age Spouse dates of birth were provided by the County. Where this information was missing, male spouses were assumed to be three years older than female spouses. Medicare Eligibility All current and future retirees were assumed to be eligible for Medicare at age 65. Amortization Method Experience/Assumptions gains and losses were amortized over a closed period of 11.0 years starting on October 1, 2018, equal to the average remaining service of active and inactive plan members (who have no future service). The actuarial assumptions include an annual health care cost trend rate of 6.5% initially, reduced by decrements of 0.5% to an ultimate rate of 4.5%. The assumptions included a discount rate tied to the return expected on the funds used to pay the benefits, and assumes for an unfunded plan, that the benefits continue to be funded on a pay-as-you-go basis. Mortality rates were based on the RP-2014 generational table projected back to 2006 and projected forward using the scale MP-17 and applied on a gender-specific basis. F-25 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 8 —POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued) Changes in the Total OPEB Liability: Total OPEB Liability Balance at the beginning of the year $ 38,446,074 Changes for the year: Service cost 1,892,547 Interest cost 1,651,394 Changes in assumptions or other inputs 7,320,839 Benefit payments (1,662,776) Net change in total OPEB liability 9,202,004 Balance at the end of the year $ 47,648,078 Effective January 1, 2018, the Board implemented cost-saving benefit changes for the Plan. The changes included using premium rates that were calculated based on expected retiree costs for Medicare retirees and lower premium subsidies for eligible retirees. The impact of these changes is reflected in the total OPEB expense. Changes of assumptions included updating the mortality to be a generational table with updated projection scales released by the Society of Actuaries, an interest rate using 20-year bond rates and a change in Actuarial Cost methodology to the Entry Age Normal. The assumptions of changes, other than the change in the discount rate, are not reflected in the above schedule of changes in the total OPEB liability because they were reflected as a liability in the prior year. Sensitivity of the Total OPEB Liability to Changes in the Discount Rate — The following presents the total OPEB liability of the Board, as well as what the Board's total OPEB liability would be if it were calculated using a discount rate that is 1-percentage-point lower (1.66 percent) or 1-percentage-point higher(3.66 percent) than the current discount rate: Current Discount 1% Decrease Rate 1%Increase (1.66%) (2.66%) (3.66%) Total OPEB Liability $42,971,000 $47,648,078 $53,131,000 Sensitivity of the Total OPEB Liability to Changes in the Healthcare Cost Trend Rates — The following presents the total OPEB liability of the County, as well as what the County's total OPEB liability would be if it were calculated using a healthcare cost trend rates that are 1-percentage-point lower (5.5 percent decreasing to 3.5 percent) or 1-percentage-point higher (7.5 percent decreasing to 5.5 percent) than the current healthcare cost trend rates: F-26 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 8 —POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued) Healthcare Cost Trend Rates 1% Decrease Current Trend 1%Increase (5.5%decreasing to (6.5%decreasing to (7.5%decreasing to 3.5%) 4.5%) 5.5%) Total OPEB Liability $44,093,000 $47,648,078 $52,042,000 OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB: For the year ended September 30, 2019, the County recognized OPEB expense of $3,516,171. At September 30, 2019, the County reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources: Deferred Deferred Outflows of Inflows of Resources Resources Changes of Assumptions or Other Inputs 6,654,126 (5,841,275) Total $ 6,654,126 $ (5,841,275) The amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows: OPEB For Fiscal Year: Amount 2020 $ (27,341) 2021 (27,341) 2022 (27,341) 2023 (27,341) 2024 (27,341) Thereafter 949,556 Total $ 812,851 F-27 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 9 —FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS General Information: The County's employees participate in the FRS. As provided by Chapters 121 and 112, Florida Statutes, the FRS provides two cost sharing, multiple employer defined benefit plans administered by the Florida Department of Management Services, Division of Retirement, including the FRS Pension Plan ("Pension Plan") and the Retiree Health Insurance Subsidy ("HIS Plan"). Under Section 121.4501, Florida Statutes, the FRS also provides a defined contribution plan ("Investment Plan") alternative to the FRS Pension Plan, which is administered by the State Board of Administration ("SBA"). As a general rule, membership in the FRS is compulsory for all employees working in a regularly established position for a state agency, county government, district school board, state university, community college, or a participating city or special district within the State of Florida. The FRS provides retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. Benefits are established by Chapter 121, Florida Statutes, and Chapter 60S, Florida Administrative Code. Amendments to the law can be made only by an act of the Florida State Legislature. The State of Florida annually issues a publicly available financial report that includes financial statements and required supplementary information for the FRS. The latest available report may be obtained by writing to the State of Florida Division of Retirement, Department of Management Services, P.O. Box 9000, Tallahassee, Florida 32315-9000, or from the Web site: www.dms.myflorida.com/workforce_operations/retirement/publications. Pension Plan: Plan Description — The Pension Plan is a cost-sharing multiple-employer defined benefit pension plan, with a Deferred Retirement Option Program ("DROP") for eligible employees. Benefits Provided — Benefits under the Pension Plan are computed on the basis of age, average final compensation, and service credit. For Pension Plan members enrolled before July 1, 2011, Regular class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 1.6% of their final average compensation based on the five highest years of salary, for each year of credited service. Vested members with less than 30 years of service may retire before age 62 and receive reduced retirement benefits. Special Risk Administrative Support class members who retire at or after age 55 with at least six years of credited service or 25 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 1.6% of their final average compensation based on the five highest years of salary, for each year of credited service. Special Risk class members (sworn law enforcement officers, firefighters, and correctional officers) who retire at or after age 55 with at least six years of credited service, or with 25 years of service regardless of age, are entitled to a retirement benefit payable monthly for life, equal to 3.0% of their final average compensation based on the five highest years of salary for each year of credited service. F-28 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 9 —FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) Senior Management Service class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 2.0% of their final average compensation based on the five highest years of salary for each year of credited service. Elected Officers' class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 3.0% (3.33% for judges and justices) of their final average compensation based on the five highest years of salary for each year of credited service. For Plan members enrolled on or after July 1, 2011, the vesting requirement is extended to eight years of credited service for all these members and increasing normal retirement to age 65 or 33 years of service regardless of age for Regular, Senior Management Service, and Elected Officers' class members, and to age 60 or 30 years of service regardless of age for Special Risk and Special Risk Administrative Support class members. Also, the final average compensation for all these members will be based on the eight highest years of salary. As provided in Section 121.101, Florida Statutes, if the member is initially enrolled in the Pension Plan before July 1, 2011, and all service credit was accrued before July 1, 2011, the annual cost-of- living adjustment is three percent per year. If the member is initially enrolled before July 1, 2011, and has service credit on or after July 1, 2011, there is an individually calculated cost-of-living adjustment. The annual cost-of-living adjustment is a proportion of three percent determined by dividing the sum of the pre-July 2011 service credit by the total service credit at retirement multiplied by three percent. Plan members initially enrolled on or after July 1, 2011, will not have a cost-of-living adjustment after retirement. In addition to the above benefits, the DROP program allows eligible members to defer receipt of monthly retirement benefit payments while continuing employment with a FRS employer for a period not to exceed 60 months after electing to participate. Deferred monthly benefits are held in the FRS Trust Fund and accrue interest. There are no required contributions by DROP participants. Contributions —Effective July 1, 2011, all enrolled members of the FRS, other than DROP participants, are required to contribute three percent of their salary to the FRS. In addition to member contributions, governmental employers are required to make contributions to the FRS based on state-wide contribution rates established by the Florida Legislature. These rates are updated as of July 1 of each year. The employer contribution rates by job class for the periods from October 1, 2018 through June 30, 2019 and from July 1, 2019 through September 30, 2019, respectively, were as follows: Regular8.26% and 8.47%; Special Risk Administrative Support34.87% and 38.59%; Special Risk24.50% and 25.48%; Senior Management Service24.06% and 25.41%; Elected Officers' 48.70% and 48.82%; and DROP participants—14.03% and 14.60%. These employer contribution rates include 1.66% and 1.66% HIS Plan subsidy for the periods October 1, 2018 through June 30, 2019 and from July 1, 2019 through September 30, 2019, respectively. F-29 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 9 —FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) The County's contributions, including employee contributions, to the Pension Plan totaled $10,642,566 for the fiscal year ended September 30, 2019. Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions—At September 30, 2019, the County reported a liability of$115,154,108 for its proportionate share of the Pension Plan's net pension liability. The net pension liability was measured as of June 30, 2019, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of July 1, 2019. The County's proportionate share of the net pension liability was based on the County's FY 2019 contributions relative to the FY 2019 contributions of all participating members. At June 30, 2019, the County's proportionate share for all funds was 0.3344 percent, which was a decrease of 0.0142 percent from its proportionate share measured as of June 30, 2018. The contributions made after the measurement date of the Pension Plan's net pension liability but before the end of the County's fiscal year will be recognized as a reduction of the Pension Plan's net pension liability in the subsequent fiscal period rather than in the current fiscal period. For the fiscal year ended September 30, 2019, the County recognized pension expense of$28,337,280. In addition, the County reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: FRS Pension Deferred Deferred Outflows of Inflows of Resources Resources Differences Between Expected and Actual Experience $ 6,830,119 $ 71,464 Changes of Assumptions 29,576,530 - Net Difference Between Projected and Actual Earnings on Pension Plan Investments - 6,370,926 Changes in Proportion and Differences Between Pension Plan Contributions and Proportionate Share of Contributions 5,020,384 3,350,541 Pension Plan Contributions Subsequent to the Measurement Date 2,802,611 - Total $ 44,229,644 $ 9,792,931 The deferred outflows of resources related to the Pension Plan $2,802,611, resulting from County contributions to the Plan subsequent to the measurement date, will be recognized as a reduction of the net pension liability in the fiscal year ended September 30, 2019. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to the Pension Plan will be recognized in pension expense as follows: F-30 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 9 —FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) FRS For Fiscal Year: Amount 2020 $ 11,472,405 2021 3,460,873 2022 8,361,794 2023 6,307,829 2024 1,626,761 Thereafter 404,440 Total $ 31,634,102 Actuarial Assumptions — The total pension liability in the June 30, 2019 actuarial valuation was determined using the following actuarial assumption, applied to all periods included in the measurement: Inflation 2.60% Salary increases 3.25%, average, including inflation Investment rate of return 7.20%, net of pension plan investment expense, including inflation Mortality rates were based on the PUB2010 base table which varies by member category and sex, projected generationally with Scale MP-2018 detail are in the valuation report. The actuarial assumptions used in the July 1, 2018, valuation were based on the results of an actuarial experience study for the period July 1, 2013 through June 30, 2018. The long-term expected rate of return decreased from 7.00% to 6.90%, and the active member mortality assumption was updated. The long-term expected rate of return on Pension Plan investments was not based on historical returns, but instead is based on a forward-looking capital market economic model. The allocation policy's description of each asset class was used to map the target allocation to the asset classes shown below. Each asset class assumption is based on a consistent set of underlying assumptions and includes an adjustment for the inflation assumption. The target allocation and best estimates of arithmetic and geometric real rates of return for each major asset class are summarized in the following table: F-31 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 9 —FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) Compound Annual Annual Target Arithmetic (Geometric) Standard Asset Class Allocation Return Return Deviation Cash 1.0% 3.3% 3.3% 1.2% Fixed Income 18.0% 4.1% 4.1% 3.5% Global Equity 53.0% 8.0% 6.8% 16.5% Real Estate (Property) 10.0% 6.7% 6.1% 11.7% Private Equity 6.0% 11.2% 8.4% 25.8% Strategic Investments 12.0% 5.9% 5.7% 6.7% Total 100.0% Discount Rate — The discount rate used to measure the total pension liability was 6.90%. The Pension Plan's fiduciary net position was projected to be available to make all projected future benefit payments of current active and inactive employees. Therefore, the discount rate for calculation of the total pension liability is equal to the long-term expected rate of return. Sensitivity of the County's Proportionate Share of the Net Position Liability to Changes in the Discount Rate — The following represents the County's proportionate share of the net pension liability calculated using the discount rate of 6.90%, as well as what the proportionate share of the net pension liability would be if it were calculated using a discount rate that is one percentage point lower (5.90%) or one percentage point higher(7.90%) than the current rate: FRS Net Pension Liability Current Discount 1% Decrease Rate 1%Increase (5.90%) (6.90%) (7.90%) Enterprise and Internal Service Funds Proportionate Share of the Net Pension Plan Liability $ 199,063,105 $ 115,154,108 $ 45,075,901 Pension Plan Fiduciary Net Position — Detailed information regarding the Pension Plan's fiduciary net position is available in the separately issued FRS Pension Plan and Other State-Administered Systems Comprehensive Annual Financial Report. F-32 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 9 —FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) HIS Plan: Plan Description — The HIS Plan is a cost-sharing multiple-employer defined benefit pension plan established under Section 112.363, Florida Statutes, and may be amended by the Florida legislature at any time. The benefit is a monthly payment to assist retirees of State-administered retirement systems in paying their health insurance costs and is administered by the Florida Department of Management Services, Division of Retirement. Benefits Provided — For the fiscal year ended September 30, 2019, eligible retirees and beneficiaries received a monthly HIS payment of $5 for each year of creditable service completed at the time of retirement, with a minimum HIS payment of$30 and a maximum HIS payment of$150 per month. To be eligible to receive these benefits, a retiree under a State-administered retirement system must provide proof of health insurance coverage, which may include Medicare. Contributions — The HIS Plan is funded by required contributions from FRS participating employers as set by the Florida Legislature. Employer contributions are a percentage of gross compensation for all active FRS members. For the fiscal year ended September 30, 2019, the HIS contribution for the period October 1, 2018 through June 30, 2019 and from July 1, 2019 through September 30, 2019 was 1.66% and 1.66%, respectively. The County contributed 100% of its statutorily required contributions for the current and preceding three years. HIS Plan contributions are deposited in a separate trust fund from which payments are authorized. HIS Plan benefits are not guaranteed and are subject to annual legislative appropriation. In the event legislative appropriation or available funds fail to provide full subsidy benefits to all participants, benefits may be reduced or cancelled. The County's contributions to the HIS Plan totaled $1,393,010 for the fiscal year ended September 30, 2019. Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions —At September 30, 2019, the County reported a liability of$27,660,425 for their proportionate share of the County's HIS Plan's net pension liability. The net pension liability was measured as of June 30, 2019, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of July 1, 2019. The County's proportionate share of the net pension liability was based on the County's FY 2019 contributions relative to the FY 2019 contributions of all participating members. At June 30, 2019, the County's proportionate share of all funds was 0.2472 percent, which was an increase of 0.00695 percent from its proportionate share measured as of June 30, 2018. The contributions made after the measurement date of the HIS Plan's net pension liability but before the end of the County's fiscal year will be recognized as a reduction of the HIS Plan's net pension liability in the subsequent fiscal period rather than in the current fiscal period. For the fiscal year ended September 30, 2019, the County recognized pension expense of$2,333,925. In addition, these activities reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: F-33 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 9 —FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) HIS Pension Deferred Deferred Outflows of Inflows of Resources Resources Differences Between Expected and Actual Experience $ 335,967 $ 33,869 Changes of Assumptions 3,202,816 2,260,738 Net Difference Between Projected and Actual Earnings on HIS Plan Investments 17,849 - Changes in Proportion and Differences Between HIS Plan Contributions and Proportionate Share of Contributions 2,063,125 1,018,577 HIS Plan Contributions Subsequent to the Measurement Date 357,729 - Total $ 5,977,486 $ 3,313,184 The deferred outflows of resources related to the HIS Plan, totaling $357,729, resulting from County contributions to the HIS Plan subsequent to the measurement date, will be recognized as a reduction of the net pension liability in the fiscal year ended September 30, 2019. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to the HIS Plan will be recognized as pension expense in the enterprise and internal service funds as follows: HIS For Fiscal Year: Amount 2020 $ 982,973 2021 786,703 2022 430,639 2023 (312,714) 2024 56,802 Thereafter 362,170 Total $ 2,306,573 Actuarial Assumptions — The total pension liability in the July 1, 2019, actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the measurement: Inflation 2.60% Salary increases 3.25%, average, including inflation Municipal bond rate 3.50% Mortality rates were based on the Generational RP-2000 with Projection Scale BB tables. F-34 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 9 —FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) The actuarial assumptions used in the July 1, 2019, valuation were based on the results of an actuarial experience study for the period July 1, 2013 through June 30, 2018. The municipal rate used to determine total pension liability increased from 3.87% to 3.50%. Discount Rate— The discount rate used to measure the total pension liability was 3.50%. In general, the discount rate for calculating the total pension liability is equal to the single rate equivalent to discounting at the long-term expected rate of return for benefit payments prior to the projected depletion date. Because the HIS benefit is essentially funded on a pay-as-you-go basis, the depletion date is considered to be immediate, and the single equivalent discount rate is equal to the municipal bond rate selected by the HIS Plan sponsor. The Bond Buyer General Obligation 20-Bond Municipal Bond Index was adopted as the applicable municipal bond index. Sensitivity of the County's Proportionate Share of the Net Position Liability to Changes in the Discount Rate — The following represents the County's enterprise and internal service funds proportionate share of the net pension liability calculated using the discount rate of 3.50%, as well as what the proportionate share of the net pension liability would be if it were calculated using a discount rate that is one percentage point lower(2.50%) or one percentage point higher(4.50%) than the current rate: HIS Net Pension Liability Current Discount 1% Decrease Rate 1%Increase (2.50%) (3.50%) (4.50%) Enterprise and Internal Service Funds Proportionate Share of the Net HIS Plan Liability $ 31,575,793 $ 27,660,425 $ 24,399,366 Pension Plan Fiduciary Net Position — Detailed information regarding the HIS Plan's fiduciary net position is available in the separately issued FRS Pension Plan and Other State-Administered Systems Comprehensive Annual Financial Report. Investment Plan: The SBA administers the defined contribution plan officially titled the FRS Investment Plan. The Investment Plan is reported in the SBA's annual financial statements and in the State of Florida Comprehensive Annual Financial Report. F-35 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 9 —FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) As provided in Section 121.4501, Florida Statutes, eligible FRS members may elect to participate in the Investment Plan in lieu of the FRS defined benefit plan. County employees participating in DROP are not eligible to participate in the Investment Plan. Employer and employee contributions, including amounts contributed to individual member's accounts, are defined by law, but the ultimate benefit depends in part on the performance of investment funds. Benefit terms, including contribution requirements, for the Investment Plan are established and may be amended by the Florida Legislature. The Investment Plan is funded with the same employer and employee contribution rates that are based on salary and membership class (Regular Class, Elected County Officers, etc.), as the Pension Plan. Contributions are directed to individual member accounts, and the individual members allocate contributions and account balances among various approved investment choices. Costs of administering the Investment Plan, including the FRS Financial Guidance Program, are funded through an employer contribution of 0.04% and 0.06% of payroll and by forfeited benefits of plan members for the periods October 1, 2018 through June 30, 2019 and from July 1, 2019 through September 30, 2019, respectively. Allocations to the investment member's accounts during the F Y 2019, as established by Section 121.72, Florida Statutes, are based on a percentage of gross compensation, by class, as follows: Regular class 6.30%, Special Risk Administrative Support class 7.95%, Special Risk class 14.00%, Senior Management Service class 7.67% and County Elected Officers class 11.34%. For all membership classes, employees are immediately vested in their own contributions and are vested after one year of service for employer contributions and investment earnings. If an accumulated benefit obligation for service credit originally earned under the Pension Plan is transferred to the Investment Plan, the member must have the years of service required for Pension Plan vesting (including the service credit represented by the transferred funds) to be vested for these funds and the earnings on the funds. Non-vested employer contributions are placed in a suspense account for up to five years. If the employee returns to FRS-covered employment within the five-year period, the employee will regain control over their account. If the employee does not return within the five-year period, the employee will forfeit the accumulated account balance. For the fiscal year ended September 30, 2019, the information for the amount of forfeitures was unavailable from the SBA; however, management believes that these amounts, if any, would be immaterial to the County. After termination and applying to receive benefits, the member may rollover vested funds to another qualified plan, structure a periodic payment under the Investment Plan, receive a lump sum distribution, leave the funds invested for future distribution, or any combination of these options. Disability coverage is provided; the member may either transfer the account balance to the Pension Plan when approved for disability retirement to receive guaranteed lifetime monthly benefits under the Pension Plan or remain in the Investment Plan and rely upon that account balance for retirement income. The County's Investment Plan pension expense totaled $1,242,292 for the fiscal year ended September 30, 2019. F-36 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES General Information about the Pension Plan: Plan Description—The Monroe County, Florida Volunteer Firefighter and Emergency Medical Services Length of Service Award Plan ("LOSAP") is a single-employer public employee retirement system defined benefit pension plan created in 1999 and administered by the Board. LOSAP provides retirement and death benefits to plan members and beneficiaries. Monroe County Ordinance 026-1999 defines the authority under which contribution and benefit provisions may be amended. This authority is presently held by the Board. LOSAP shall be administered in accordance with the requirements of Chapter 112, Part VII, Florida Statutes. Amounts associated with the Board's LOSAP program are reported on the government-wide financial statements of the County, rather than on the financial statements of the Board. Benefits Provided — Only Volunteer Firefighters and EMS Volunteers ("Volunteers") are eligible at the sole discretion of the LOSAP Administrator. Any Volunteer who was age 60 or older on January 1, 1999 shall not be eligible to participate. In addition, any Volunteers who are age 60 or older at the time they commence volunteer service, or who commence service at a time that will not permit them to earn ten years of service by their Normal Retirement Age, shall not be eligible to participate in this Plan. Volunteer Firefighters must attain the rank of Structural Firefighter, Non-Structural Firefighter, and or Emergency Vehicle Driver-Operator prior to being credited with ten years of service. EMS Volunteers must meet all requirements as defined by the State of Florida necessary to drive an emergency medical care and transportation vehicle (ambulance) and/or attain certification as an Emergency Medical Technician or Paramedic prior to being credited with ten years of service. Eligibility for vesting is completion of ten years of service. LOSAP shall be administered in accordance with the requirements of Chapter 112, Part VII, Florida Statutes. For each year of Volunteer service, a participant will accrue a year of benefit accrual if the participant was enrolled as a member of the nonprofit corporation or municipal service taxing unit ("MSTU") and was eligible for and received reimbursement of expenses for nine or more months of the year. Volunteers are vested after completion of ten years of service prior to attainment of normal retirement age. Eligible Volunteers can receive an annual benefit of$1,800 for ten years of service up to $4,500 for 25 years of service. Employees Covered by Benefit Terms — LOSAP had 31 participants, of which 5 are active, 13 are inactive, and 13 are retired members for the plan year ended December 31, 2019 and the County's fiscal year ending September 30, 2019. Separate, stand-alone financial statements for LOSAP are not provided. Contributions — Contributions and benefits are calculated based on years of service. As the participants are unpaid volunteers, there is no related covered payroll and no unfunded actuarial accrued liability as a percentage of covered payroll. F-37 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES (continued) For each LOSAP Plan Year, the Board shall appropriate funds from the budgets of the various fire/rescue MSTU's. These funds will be applied as a contribution to the LOSAP trust account in an amount as determined by the Plan Administrator as is necessary to fund the accrued or prospective benefits for Participants on an actuarially sound basis and in accordance with Part VII of Chapter 112, Florida Statutes. There are no participant contribution requirements. The authority under which those obligations are established is the Monroe County Ordinance No. 026-1999. Net Pension Liability: The Board's net pension liability was measured as of January 1, 2019 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. Actuarial Assumptions — The significant actuarial assumptions used to compute the pension benefit obligation in the January 1, 2019 valuation for the period of January 1, 2018 through December 31, 2018 were: 1. Investment Yield: 1.0% for both present and future 2. Mortality Pattern: Not applicable 3. Salary Increases: Not applicable; Benefits not based on salary 4. Termination: Godwin's Table 1, V Select & Ultimate Table, with 50% termination probability for YOS<1 5. Inflation: No increase as benefits are based on a flat amount per year of service The projection of cash flows used to determine the discount rate assumed that plan member contributions will be made at the applicable current contribution rates and that Board contribution will be made at rates equal to the difference between actuarially determined contributions and member contributions. Based on those assumptions, the fiduciary net position for the LOSAP pension plans was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on LOSAP's investments was applied to all periods of projected benefit payments to determine the total pension liability for each plan. Summary of Significant Accounting Policies — The financial statements of LOSAP are prepared using the modified accrual basis of accounting. The contributions are recognized when they become susceptible to accrual; when they become both measurable and available. Benefits are recognized in the accounting period in which the related fund liability is incurred in accordance with the terms of LOSAP. Administrative costs are paid by the Board. Actuarial valuation costs are paid by LOSAP. All plan investments are reported at fair value. The resources in the LOSAP fund have been set aside to pay future obligations of the LOSAP but are not held in a trust that meets the criteria outlined in GASB Statement No. 67, paragraph 3 and GASB Statement No. 68,paragraph 4. F-38 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES (continued) Investments — Investments are pooled with all Board investments and are held in accordance to the investment policy included in Note 1. All plan investments consist of U.S. Government and U.S. Government-guaranteed obligations which represent more than 5.0% of the net position available for benefits. There are no investments in, loans to or leases with any public employee retirement system official, government employer official, party related to a public employee retirement system official or government employer official, nonemployee contributor, or organization included in the reporting entity. Discount Rate — The discount rate used to measure the total pension liability was 1.00% (no change from the prior measurement period). The projection of cash flows used to determine the discount rate assumed that employee contributions will be made at the current contribution rate and that the Board's contributions will be made at rates equal to the difference between actuarially determined contribution rates and the employee rate. Based on those assumptions, the pension plan's net position was projected to be available to make all projected future benefit payments of current active and inactive employees. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability. Changes in Total LOSAP Pension Liability: Total LOSAP Pension Liability Balance at January 1, 2018 $ 867,971 Changes for the year: Service cost (6,170) Interest cost 8,724 Differences Between Expected and Actual Experience (35,295) Benefit payments (31,680) Net change in total LOSAP pension liability (64,421) Balance at December 31, 2018 $ 803,550 Sensitivity of the Net Pension Liability to Changes in the Discount Rate — The following table presents the net pension liability of LOSAP, using the current discount rate, as well as what the Board's net pension liability would be if it were calculated using a discount rate that is 1-percentage point lower or 1-percentage point higher than the current rate. Current 1% Decrease Discount Rate 1%Increase (0.00%) (1.00%) (2.00%) Net LOSAP Pension Liability $ 819,400 $ 803,550 $ 689,695 F-39 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES (continued) Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions: For the year ended September 30, 2019, the Board recognized pension expense of $31,680. At September 30, 2019, the Board reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources, which will be amortized in future periods on substantially a straight-line basis: Deferred Deferred Outflows of Inflows of Resources Resources Net Difference Between Projected and Actual Earnings on LOSAP Pension Plan Investments $ 591 $ - NOTE 11 —CAPITAL AND OTHER SIGNIFICANT COMMITMENTS Construction projects and significant commitments, excluding encumbrances reported below, under present contractual agreements as of September 30, 2019 are as follows: Plantation Key Courthouse & Detention Center $ 31,892,536 Marathon Library 6,319,663 Cudjoe Regional Wastewater 2,000,000 Cudjoe Fire Station 1,771,128 Pigeon Key Ramp 1,141,515 Stock Island Road and Drainage Projects 1,358,515 West Martello 660,414 Quarry Road Project 527,624 Key Largo Road and Drainage Projects 242,685 Other Projects (less than $100,000) 357,007 Total $ 46,271,087 The entire construction costs of the Cudjoe Regional Wastewater project are estimated at$208.5 million. There is an interlocal agreement between the County and the Florida Keys Aqueduct Authority ("FKAA") for this project. The County obtained partial funding through grants, the issuance of revenue notes backed by the pledge of the infrastructure sales surtax, State of Florida clean water revolving loan and wastewater special assessments to provide funding to FKAA for the administration, planning and construction of wastewater projects. F-40 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 11 —CAPITAL AND OTHER SIGNIFICANT COMMITMENTS (continued) Significant encumbrance commitments at September 30, 2019 are as follows: Encumbrances Governmental Activities: General Fund $ 190,568 Fine& Forfeiture Fund 4,850 Road& Bridge Fund 1,473,869 Governmental Grants Fund 8,413,584 One Cent Infrastructure Surtax 448,131 Nonmajor Governmental Funds 206,895 Total Governmental Activities 10,737,897 Business-Type Activities: Card Sound Bridge 128,474 Key West Airport 1,505,819 Marathon Airport 898,888 Total Business-Type Activities 2,533,181 Total Encumbrances $ 13,271,078 NOTE 12 —LEASE OBLIGATIONS The County leases office space, equipment, and debris removal staging sites under operating lease agreements. Total lease payments made in the year ended September 30, 2019 were $7,036,970. The following is a schedule by years of future minimum rentals under noncancelable operating leases for the fiscal year ended September 30: 2020 $ 5,275,415 2021 5,042,655 2022 4,090,171 2023 3,688,338 2024 3,476,403 2025-2029 3,195,624 Total S 24,768.606 F-41 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 13 —LONG-TERM DEBT Long-term debt activity for the year ended September 30, 2019 is as follows: Current Portion Beginning Ending of Long-term Balances Additions Payments Balances Liabilities Governmental Activities: Revenue Bonds From Direct Borrowings $ 39,560,000 $ - $ 4,575,000 $ 34,985,000 $ 4,675,000 Revenue Notes From Direct Borrowings* 153,497,215 21,659,464 21,143,076 154,013,603 4,157,351 Mayfield Agreement(KLWTD) 15,250,000 - 2,125,000 13,125,000 2,125,000 Accrued Comp.Absences 13,078,959 7,392,094 6,560,380 13,910,673 2,791,983 OPEB Liability 37,330,074 15,708,848 6,679,844 46,359,078 - PensionLiability-FRS 126,510,607 22,106,068 11,494,005 137,122,670 PensionLiability-LOSAP 867,971 8,724 73,145 803,550 - Total Governmental Activities 386,094,826 66,875,198 52,650,450 400,319,574 13,749,334 Business-Type Activities: Accrued Comp.Absences 461,389 296,395 272,674 485,110 97,023 Revenue Notes From Direct Borrowings 24,060,741 - 24,060,741 - - OPEB Liability 1,116,000 338,148 165,148 1,289,000 Pension Liability 5,378,382 781,906 468,425 5,691,863 - Total Business-Type Activities 31,016,512 1,416,449 24,966,988 7,465,973 97,023 Total Long-Term Debt $ 417,111,338 $ 68,291,647 $ 77,617,438 $ 407,785,547 $ 13,846,357 'Additions includes capitalized interest Internal service fund long-term debt information is included in the governmental activities on the government-wide financial statements, because the internal service funds predominately serve those activities. Governmental activities' compensated absences are liquidated by the funds to which the related employee services relate. The Group Insurance Internal Service Fund assesses a monthly premium per employee in each fund. The monthly premiums paid by the various funds provide the resources necessary to liquidate the other postemployment benefit obligations paid in the current year by the Group Insurance Internal Service Fund. F-42 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 13 —LONG-TERM DEBT (continued) The following summary reflects the Board's bonds and notes as of September 30, 2019: Governmental Activities Revenue Bonds: Infrastructure Sales Surtax Revenue Bonds, Series 2014 $ 19,970,000 Infrastructure Sales Surtax Refunding Bond, Series 2016 15,015,000 Total Revenue Bonds From Direct Borrowings 34,985,000 Revenue Notes: Clean Water State Revolving Fund Construction Loan Agreement 2010 6,195,533 Clean Water State Revolving Fund Construction Loan Agreement 2014 134,093,589 Tax Exempt Master Revenue Note, Series 2019 (Hurricane Irma Recovery) 13,724,481 Total Revenue Notes From Direct Borrowings 154,013,603 Mayfield Agreement—Key Largo Wastewater Treatment District 13,125,000 Total Government Debt $ 202,123,603 Debt Service Funding Requirements — The total annual debt service requirements for bonds and notes outstanding at September 30, 2019 are as follows: Governmental Activities Principal Interest Total 2020 $ 10,957,351 $7,272,097 $ 18,229,448 2021 13,479,704 4,588,199 18,067,903 2022 13,766,863 4,306,963 18,073,826 2023 14,048,363 4,018,527 18,066,890 2024 14,344,324 3,722,949 18,067,273 2025-2029 60,115,205 13,885,001 74,000,206 2030-2034 37,601,611 7,763,867 45,365,478 2035-2039 37,810,182 2,552,308 40,362,490 Total Required Debt Service $202,123,603 $48,109,911 $250,233,514 F-43 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 13 —LONG-TERM DEBT (continued) Long-term debt at September 30, 2019 is composed of the following issues: $31,885,000 Florida Infrastructure Sales Surtax Improvement and Refunding Revenue Bonds, Series 2014 • Type: General Government Revenue Bonds • Dated: October 2014 • Final maturity: Year 2024 • Principal payment date: April I • Interest payment dates: April I and October I • Interest rate: 2.36% • Amount outstanding at September 30th: $19,970,000 • 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 $21,405,942. For the fiscal year, principal and interest paid was $4,284,202 and total pledged revenue was $24,267,427. • Purpose: To construct and acquire equipment and capital improvements. • Call provisions: None $19,500,540 Clean Water State Revolving Fund Construction Loan Agreement • Type: General Government Revenue Notes • Dated: April 2010 • Final maturity: Year 2030 • Principal payment date: March 15 and September 15 • Interest payment dates: March 15 and September 15 • Interest rate: 2.71% • Amount outstanding at September 30th: $6,195,533 • Reserve requirement: None • Revenue pledged: Non-Ad Valorem Revenues in the General Fund, the Fine and Forfeiture Fund and the Unincorporated Area Service District Funds. The total principal and interest remaining to be paid is $7,160,351. For the fiscal year, principal and interest paid was $681,938 and total pledged revenue was $25,476,313. • Purpose: Refund temporary financing for wastewater capital improvements. • Call provisions: None F-44 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 13 —LONG-TERM DEBT (continued) Clean Water State Revolving Fund Construction Loan Agreement • The State awarded a total of $127,200,000 (original award plus seven amendment awards) for collection, transmission and treatment facilities under the State Revolving Fund loan program. During the year ended September 30, 2019, loan draws of $5,434,652 were received and accumulated interest of$719,094 capitalized. Principal of$2,864,521 and interest of$1,802,058 was paid. • Interest rate: various interest rates (2.35% - 3.07%) as of September 30, 2019 • Final maturity: Year 2038 • Principal payment dates: June 15 and December 15 • Interest payment dates: June 15 and December 15 • Amount outstanding as of September 30th: $134,093,589 • Reserve requirement: None • Revenue pledged: One Cent Local Government Infrastructure Sales Surtax and Cudjoe Regional Wastewater special assessments. For the fiscal year, there were no principal and interest payments made as the loan was still in the draw process and total pledged revenue was $26,161,609. • Purpose: Financing for wastewater capital improvements. • Call provisions: None $16,065,000 Infrastructure Sales Surtax Refunding Revenue Bond, Series 2016 • Type: General Government Refunding Revenue Bond • Dated: September 2016 • Final maturity: Year 2026 • Principal payment date: April 1 • Interest payment dates: April 1 and October 1 • Interest rate: 1.69% • Amount outstanding at September 30th: $15,015,000 • 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 $16,402,659. For the fiscal year, principal and interest paid was $1,118,104 and total pledged revenue was $24,267,427. • Purpose: To construct and acquire equipment and capital improvements. • Call provisions: None F-45 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 13 —LONG-TERM DEBT (continued) $17,000,000 Mayfield Interlocal Agreement • Type: Interlocal Agreement • Dated: May 2015 • Final maturity: Year 2026 • Principal payment date: April 1 • Interest payment dates: April 1 • Interest rate: N/A • Amount outstanding at September 30th: $13,125,000 • Reserve requirement: None • Revenue pledged: One Cent Local Government Infrastructure Sales Surtax. The total principal remaining to be paid is $13,125,000. For the fiscal year, principal paid was $2,125,000 total pledged revenue was $24,267,427. • Purpose: Capital improvements with respect to Cudjoe Regional Wastewater Project • Call provisions: None • See Note 14 for additional information related to this agreement. Series 2019 Special Obligation Refunding Revenue Note • Final maturity: Year 2027 • Principal payment date: April 1 • Interest payment dates: April 1 and October 1 • Interest rate: 80% of 1-Month LIBOR+ 0.86% (2.266% reported as of July 24, 2019) • Amount outstanding at September 30th: $13,724,481 • Reserve requirement: None • Revenue pledged: Non-Ad Valorem Revenues in the General Fund, the Fine and Forfeiture Fund, the Unincorporated Area Service District Funds, and the One Cent Local Government Infrastructure Sales Surtax. The total principal remaining to be paid is $13,724,481. For the fiscal year, loan draws of $15,560,000 were received and principal paid was $1,835,519 and total pledged revenue was $49,743,740. • Purpose: Irma recovery and debris clean-up. • Call provisions: None F-46 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 14 —INTERLOCAL AGREEMENT EXPENSE Administered by the Florida Department of Environmental Protection ("FDEP"), the Mayfield Grant is the result of the State of Florida authorizing up to $200 million in grant funding to assist the Keys' wastewater entities to complete central sewer and related projects. In May 2015, Monroe County and Key Largo Wastewater Treatment District ("KLWTD") entered into an "interlocal agreement" ("ILA") whereby KLWTD "assigned" its Mayfield grant allocation funding to Monroe County in exchange for the County repaying those funds over a 10-year period. As a result of the signed ILA in 2015 between Monroe County and KLWTD, FDEP sent Monroe County an amendment to the Mayfield Grant in FY 2014-15 to add the $17 million reallocated funds to the grant agreement between FDEP and Monroe County. The amendment: (1) provided the County an additional $17 million in Mayfield grant funding; (2) reallocated the project budget and; (3) extended the date of the completion of the project. Similarly, during the 2016 legislative session, the Florida Legislature appropriated $5 million for water quality projects under the Florida Keys Stewardship Act. Of the $5 million, $1.25 million was awarded to the KLWTD and they subsequently voted to have Monroe County use its 2016 allotment. In turn, FDEP sent Monroe County an amendment to the Mayfield Grant in FY 2016-17 to add the $1.25 million reallocated fund to the grant agreement between FDEP and Monroe County. Monroe County entered into the grant agreement with FDEP in FY 2016-17 and received the $1.25 million in FY 2017-18. The ILA created transactions with two separate parts 1) a grant between FDEP and Monroe County and 2) a long-term liability payable to KLWTD from Monroe County. For part one, Monroe County recorded grant revenue, which was a reimbursement for capital expenditures already incurred in the Cudjoe Regional Wastewater fund. For part two, the County recorded a long-term liability on the government-wide financial statements, which represents funding the County is obligated to pay KLWTD as a result of the ILA. The offset to this liability was an interlocal agreement expense which represents the value of Monroe County's "right" to receive the Mayfield Grant revenue forfeited by KLWTD. F-47 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 15 —INTERFUND BALANCES During the course of operations, transactions occur which result in amounts owed to a particular fund by another fund, other than for goods provided or services rendered. The receivables and payables are due within a year and are classified as "Due from other funds/Due to other funds" on the governmental funds balance sheet or proprietary fund statement of net position. The County transferred cash of $6,034,310 at the end of FY 2019 to the Government Grants Fund for funding hurricane recovery efforts that continue to be on-going throughout FY2019 and into FY 2020. In addition, the County transferred $8,722,772 from the Risk Management Fund associated with Hurricane Irma insurance recoveries to those funds that recorded losses associated with the hurricane. Interfund balances as of September 30, 2019 were as follows: Receivable Fund Payable Fund Amount General Fund Governmental Grants $ 4,000,000 Fine &Forfeiture 15,364 HIDTA Grants 86,621 Sheriff's Grants 122,085 Nonmajor Governmental 791,559 Fine and Forfeiture Governmental Grants 2,034,310 Sheriff's Grants 2,430,073 Nonmajor Governmental 5,279 Governmental Grants Fund Internal Service Fund 7,568,985 Sheriff's Grants General Fund 8,643 Cudjoe Regional Wastewater Project General Fund 2,788 Municipal Service District Waste Internal Service Funds 6,763 General Fund 3,874 Key West Airport Nonmajor Governmental 229,472 Marathon Airport Internal Service Funds 1,147,024 Internal Service Funds Nonmajor Governmental 86,232 Nonmajor Governmental General Fund 654,174 HIDTA Grants 781,993 Internal Service Funds 3,795 Nonmajor Governmental 637,960 F-48 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 16—INTERFUND TRANSFERS Interfund transfers at September 30, 2019 are as follows: Transfers to General Fund from: One Cent Infrastructure Surtax Fund $ 533,877 Fine&Forfeiture Fund 43,986,266 Municipal Service District—Waste 235,202 Card Sound Bridge Fund 79,776 Marathon Airport 137,385 Key West Airport 477,280 Internal Service Funds 860,159 Nonmajor Governmental Funds 12,495,543 Total Transfers to General Fund 58,805,488 Transfers to Fine&Forfeiture Fund from: Nonmajor Governmental Funds 920,088 Transfers to Governmental Grant Fund from: General Fund 285,445 Fine&Forfeiture Fund 4,909 One Cent Infrastructure Surtax Fund 351,233 Internal Service Funds 7,568,985 Nonmajor Governmental Funds 707,229 Total Transfers to General Fund 8,917,801 Transfers to Sheriff's Grants Fund from: General Fund 139,432 Fine&Forfeiture Fund 74,282 Total Transfers to Sheriff's Grants Fund 213,714 Transfers to Cudjoe Regional Wastewater Project Fund from: General Fund 2,659 Transfers to Debt Service Fund from: Governmental Grants Fund 5,302,095 One Cent Infrastructure Surtax Fund 6,527,956 Cudjoe Regional Wastewater Project 4,666,579 Nonmajor Governmental Funds 682,000 Total Transfers to Debt Service Fund 17,178,630 Transfers to Nonmajor Governmental Funds from: General Fund 5,331,787 Fine&Forfeiture Fund 3,611,567 Nonmajor Governmental Funds 89,859 Total Transfers to Nonmajor Governmental Funds 9,033,213 Transfers to Municipal Service District Waste Fund from: General Fund 3,546 Internal Service Funds 6,763 Total Transfers to Municipal Service District Waste Fund 10,309 Transfers to Marathon Airport Fund from: Key West Airport Fund for Passenger Facility Charges 6,086 Internal Service Funds 1,337,024 Total Transfers to Marathon Airport Fund 1,343,110 Total Interfund Transfers $ 96,425,012 F-49 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 16—INTERFUND TRANSFERS (continued) The One Cent Infrastructure Surtax Fund, a major fund, transferred $6,527,956 to the Debt Service Fund to repay the Board's Infrastructure Sales Surtax Improvement Series 2014 Revenue Bond, the Infrastructure Sales Surtax Series 2016 Revenue Bond, and the debt related to the Mayfield Interlocal Agreement. The Cudjoe Regional Wastewater Project transferred $4,666,579 to the Debt Service Fund to begin repaying its long-term Clean Water State Revolving Fund Construction Loan. Similarly, the Big Coppitt Wastewater Project transferred $682,000 to the Debt Service Fund for the repayment of debt related to this project. The Governmental Grants Fund transferred $5,302,095 to the Debt Service Fund to repay the Hurricane Irma Line of Credit. The funds transferred were grant proceeds received during the fiscal year from the FEMA related to Hurricane Irma. Transfers to the Governmental Grants Fund of $1,348,816 represent funds needed to meet match requirements including $351,233 from the One Cent Infrastructure Surtax Fund: $317,663 for improvements to the Stock Island roads and $33,570 for repairing boat ramps. The Boating Improvement Fund transferred $418,110 to the Governmental Grant Fund to meet match requirements for vessel pump-out services while the Roads and Bridges Grant Fund transferred $265,084 to meet match requirements for grants focusing on improvements to Key Largo's roadways. The Fleet Management Fund transferred $190,000 to the Marathon Airport for supporting the building of the car wash at the airport. Passenger Facilities Charges ("PFC") receipts were transferred to the Marathon Airport from the Key West Airport in the amount of$6,086 to fund approved projects by the Federal Aviation Administration ("FAA"). Among the FAA-approved projects were airfield security improvements, designs and bids for noise mitigation solutions, an environmental assessment at the Marathon airport, improvements to runways, lights, and fencing. The Risk Management Internal Service Fund transferred $7,568,985 to the Governmental Grants Fund, $1,147,024 to the Marathon Airport Fund, and $6,763 to the Municipal Service District Waste Fund relating to insurance recoveries received from Hurricane Irma to reasonably allocate these recoveries to those funds that incurred hurricane-related losses. The remaining transfers are related to supporting the County's operations. F-50 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 17—GOVERNMENTAL FUND BALANCE CLASSIFICATIONS Fund Balances are presented in the following categories; non-spendable, restricted, committed, assigned and unassigned (see Note I for a description of these categories). A detailed schedule of governmental fund balances at September 30, 2019 is presented below: One Cent Fine& Governmental Sheriff s Infrastructure General Forfeiture Grants Grants Surtax Fund Balance: Non-spendable: Inventory $ 116,368 $ $ $ $ Total Non-spendable 116,368 Restricted for: Law Enforcement - 24,028,739 Fire&Ambulance - Public Safety Physical Environment Transportation Housing Programs Tourist Development Human Services Libraries Library Donations Culture&Recreation Court Programs Comprehensive Planning Federal&State Grants Wastewater Projects Other Purposes Debt Service - Capital Projects - 30,443,351 Total Restricted - 24,028,739 30,443,351 Committed to: Disaster Recovery 10,000,000 - - Physical Environment - Sheriff Contract Administration Wastewater Projects Beach Re-nourishment - Total Committed 10,000,000 Assigned to: Other Purposes 190,568 Fire&Ambulance - Subsequent Year Expenditures 9,532,225 Total Assigned 9,722,793 Unassigned 16,063,448 - (3,309,828) (2,486,179) - Total Fund Balances $ 35,902,609 $ 24,028,739 $(3,309,828) $(2,486,179) $ 30,443,351 F-51 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 17—GOVERNMENTAL FUND BALANCE CLASSIFICATIONS (continued) Cudj oe Infrastructure Regional All Debt Nonmajor Total Revenue Bonds Wastewater Service Governmental Governmental Series 2014 Project Fund Funds Funds Fund Balance: Non-spendable: Inventory $ $ $ $ $ 116,368 Total Non-spendable 116,368 Restricted for: Law Enforcement 13,477,925 37,506,664 Fire&Ambulance 1,754,622 1,754,622 Public Safety 4,223,284 4,223,284 Physical Environment 3,679,023 3,679,023 Transportation 14,365,485 14,365,485 Housing Programs 2,788,378 2,788,378 Tourist Development 40,758,296 40,758,296 Human Services 62,294 62,294 Libraries 1,223,766 1,223,766 Library Donations 311,894 311,894 Culture&Recreation 1,445,322 1,445,322 Court Programs 8,965,112 8,965,112 Comprehensive Planning 4,786,242 4,786,242 Wastewater Projects 15,346,974 1,999,575 17,346,549 Other Purposes - 567,666 567,666 Debt Service 912,545 - 912,545 Capital Projects 20,786,883 - - 2,102,415 53,332,649 Total Restricted 20,786,883 15,346,974 912,545 102,511,299 194,029,791 Committed to: Disaster Recovery - - - - 10,000,000 Physical Environment 3,811,442 3,811,442 Sheriff Contract Admin 1,239,898 1,239,898 Wastewater Projects 368,749 368,749 Beach Re-nourishment 221,764 221,764 Total Committed 5,641,853 15,641,853 Assigned to: Other Purposes - 190,568 Fire&Ambulance 4,746,840 4,746,840 Subsequent Year Expense - 9,432,225 Total Assigned 4,746,840 14,469,633 Unassigned - - - - 10,267,441 Total Fund Balances $ 20,786,883 $ 15,346,974 $ 912,545 $ 112,899,992 $ 234,525,086 F-52 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 18 —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 Workers' Compensation, Group Insurance, and Risk Management Funds, respectively, as internal service funds to account for and finance its uninsured risks of loss. Under these programs, the Workers' Compensation has self-insured coverage up to the first $500,000 per claim for regular employees. Workers' Compensation claims in excess of the self-insured coverage of$500,000 are covered by an excess insurance policy. The Group Insurance Fund provides self-insured excess claims. Risk Management has a $5,000,000 excess insurance policy for general liability claims with a $200,000 self-insured retention and building property damage is covered for the actual value of the building with a deductible of $50,000. Deductibles for windstorm and flood vary by location. The Board purchases commercial insurance for claims in excess of coverage provided by the funds and for all other risks of loss. Settled claims have not exceeded this commercial coverage in any of the past three years. All funds of the County participate in the programs and make payments to the Workers' Compensation, Group Insurance and Risk Management Funds based on management's estimates of the amounts needed to pay prior and current year claims. The claims liabilities reported are based on the requirements of Governmental Accounting Standards Board Statement No. 10, which requires that a liability for claims be reported if information prior to the issuance of the financial statements indicates that it is probable that a liability has been incurred at the date of the financial statements and the amount of the loss can be reasonably estimated. These claim liabilities have not been discounted. Changes in the claim liability amounts in fiscal years 2019 and 2018 were: Workers' Group Risk Compensation Insurance Management Total Unpaid Claims at Sept. 30, 2017 $ 770,056 $ 1,155,416 $ 1,845,476 $ 3,770,948 Incurred Claims (Including IBNR) 2,315,420 15,957,996 2,125,637 20,399,053 Claim Payments (1,820,654) (15,948,521) (194,905) (17,964,080) Unpaid Claims at Sept. 30, 2018 1,264,822 1,164,891 3,776,208 6,205,921 Incurred Claims (Including IBNR) 1,587,278 16,071,855 (2,748,478)* 14,910,655 Claim Payments (1,518,584) (16,115,487) (381,060) (18,015,131) Unpaid Claims at Sept. 30, 2019 $ 1,333,516 $ 1,121,259 $ 646,670 $ 3,101,445 * The significant decrease of incurred claims for the Risk Management Fund in fiscal year 2019 was due to the elimination of Hurricane Irma claims that were included in the previous year's estimated claims. F-53 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 19 —LITIGATION AND CLAIMS The Board is a defendant in various lawsuits and is involved in other disputes wherein substantial amounts are claimed. The Board vigorously defends itself with respect to these matters. The Board's practice is to provide for these claims when a loss is probable and a loss becomes fixed or determinable in amount. As a result of regulations adopted to protect the environment and manage growth, the Board is involved in a handful of lawsuits. Most claims have been defeated to date, but two merit mention. In both of these cases, the County and State of Florida are co-defendants and any amounts awarded are expected to be apportioned between the parties. In one regulatory takings claim, the trial court found in favor of the County the State for 10 of the 11 plaintiffs. The ten defendants have exhausted their appellate rights, and the judgment in the County's favor as to their claims is final. However, the trial court found that the County was liable as to the sole remaining defendant. The parties stipulated that the value of the property was $175,000 as of the date of taking on July 17, 2002. In December 2017, the Court entered final judgment in the amount of$347,476, as of December 31, 2016,jointly and severally against the State and the County as to that property, with post judgment interest accruing. The County and State unsuccessfully appealed the liability ruling to Court of Appeals. The appellate court affirmed the final judgment in October 2019. The County paid $381,357 to satisfy the final judgment in November 2019 to stop interest from running and the Clerk issued a satisfaction. There is a bill pending in the Legislature to reimburse the County for the State's 50% share of that judgment. Attorneys' fees and costs remain to be determined. The Plaintiff is currently in a dispute with his prior attorney over a charging lien filed by the former attorney on the judgment. Plaintiff's current attorneys have filed a motion seeking release of the charging lien; the motion is scheduled for hearing in April 2020. Limited discovery is proceeding on the issue of attorneys' fees and costs. It is anticipated that the Plaintiffs will seek an award of costs and attorney's fees of approximately $900,000 in addition to the judgement already paid. Because judgment has been entered jointly and severally against the County and the State, the Board has recorded a liability of$450,000 for this fiscal year. In the second regulatory takings claim, the liability was established by the appellate courts in December of 2012 and remanded the case for a valuation trial. In February 2016, a jury valued the 13 lots at $285,500 as of July 2001. The trial court entered final judgment in the amount of$480,512, as of June 1, 2016, plus statutory post judgment interest. After the judgment was affirmed on appeal, the County deposited $531,391 in the Court Registry to satisfy the judgment and the Clerk issued a Satisfaction of Judgment. There is a bill pending in the Legislature to reimburse the County for the State's 50% share of the amount paid. Contemporaneously, the property owners moved invalidate the final judgment, which the trial court denied. On September 13, 2019, the property owner appealed that order to the Court of Appeals. The County and State filed a motion to dismiss, with the property owner filing a response in November 2019. On November 21, 2019, the appellate court agreed to reserve a decision on the motion. In January 2020, the County and State filed their answer brief. On February 12, 2020, the appellate court granted an extension to the property owner to file its reply brief, until March 2020. Once the appeal is concluded, the courts will determine any entitlement to costs and attorney's fees. It is anticipated that the plaintiffs will seek an award of costs and attorney's fees of approximately $1 million though motions have not been filed or amounts asserted at this time. F-54 MONROE COUNTY, FLORIDA Notes to Financial Statements For the Year Ended September 30, 2019 NOTE 19 —LITIGATION AND CLAIMS (continued) Because judgment has been entered jointly and severally against the County and the State, any estimations of the County's ultimate responsibility for any amounts due to be paid to the property owner should reflect a 50-50 apportionment between the State and the County. For FY 2019, no liability has been recorded. In the opinion of the County, it is reasonably possible that there are other open suits and claims that could result in judgements or settlements, which, in aggregate, would have a material adverse effect on the County's financial condition. Based on the uncertainty at this point of the proceedings, an estimate of the amount or range of potential losses cannot be determined. NOTE 20 —COMMITMENTS AND CONTINGENCIES Grant Programs — The County participates in a number of federal and state grant programs that are governed by various rules and regulations of the grantor agencies. Amounts received or receivable from grant agencies are subject to financial and compliance audits by the grantors or their representatives. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, which may be disallowed by the grantor, cannot be determined at this time, although the County expects such amounts, if any, to be immaterial. Impact Fee Refunds — Unexpended or unencumbered funds arising from the collection of impact fees may be refunded within one year following the end of the sixth year from the date on which the impact fee was paid or within three months of the non-commencement of construction, subject to certain conditions. NOTE 21 —SUBSEQUENT EVENTS—NOT UPDATED Management has evaluated subsequent events through March 20, 2020, in connection with the preparation of these financial statements, which is the date the financial statements were available to be issued. F-55 REQUIRED SUPPLEMENTARY INFORMATION MONROE COUNTY,FLORIDA SCHEDULE OF MONROE COUNTY PROPORTIONATE SHARE OF NET PENSION LIABILITY FLORIDA RETIREMENT SYSTEM PENSION PLAN LAST 10 FISCAL YEARS* 2019 2018 2017 Monroe County's proportion of the net pension liability 0.348561326% 0.348561326% 0.328044588% Monroe County's proportionate share of the net pension liability $ 115,154,108 $ 104,988,478 $ 97,033,388 Monroe County's covered payroll $ 82,678,699 $ 84,301,564 $ 74,326,732 Monroe County's proportionate share of the net pension liability as a percentage of its covered payroll 139.28% 124.54% 130.55% Plan fiduciary net position as a percentage of the total pension liability 84.26% 84.26% 83.89% *The amounts presented for each fiscal year were determined as of June 30. No data is available for the previous four years. G-1 2016 2015 2014 0.316397501% 0.298789301% 0.303954236% $ 79,890,617 $ 38,592,646 $ 18,545,678 $ 70,699,621 $ 70,456,332 $ 69,783,359 113.00% 54.78% 26.58% 84.88% 92.00% 96.09% G-2 MONROE COUNTY,FLORIDA SCHEDULE OF MONROE COUNTY CONTRIBUTIONS FLORIDA RETIREMENT SYSTEM PENSION PLAN LAST 10 FISCAL YEARS* 2019 2018 2017 Contractually required contribution $ 10,642,566 $ 12,427,075 $ 8,317,662 Contributions in relation to the contractually required contribution (10,642,566) (12,427,075) (8,317,662) Contribution deficiency(excess) $ - $ - $ - Monroe County's covered payroll $ 82,678,699 $ 84,301,564 $ 69,003,713 Contributions as a percentage of covered payroll 12.87% 14.74% 12.05% *The amounts presented for each fiscal year were determined as of September 30. No data is available for the previous four years. G-3 2016 2015 2014 $ 7,715,858 $ 7,284,737 $ 6,657,888 (7,715,858) (7,284,737) (6,657,888) $ 70,699,621 $ 70,133,038 $ 69,338,053 10.91% 10.39% 9.60% G-4 MONROE COUNTY,FLORIDA SCHEDULE OF MONROE COUNTY PROPORTIONATE SHARE OF NET PENSION LIABILITY HEALTH INSURANCE SUBSIDY PROGRAM LAST 10 FISCAL YEARS* 2019 2018 2017 Monroe County's proportion of the net pension liability 0.254159349% 0.254159349% 0.236677851% Monroe County's proportionate share of the net pension liability $ 27,660,425 $ 26,900,511 $ 25,306,688 Monroe County's covered payroll $ 82,678,699 $ 84,301,564 $ 74,326,732 Monroe County's proportionate share of the net pension liability as a percentage of its covered payroll 33.46% 31.91% 34.05% Plan fiduciary net position as a percentage of the total pension liability 2.15% 2.15% 1.64% *The amounts presented for each fiscal year were determined as of June 30. No data is available for the previous four years. G-5 2016 2015 2014 0.228042287% 0.228621233% 0,231240629% $ 26,577,384 $ 23,315,769 $ 21,621,563 $ 70,699,621 $ 70,133,038 $ 69,338,053 37.59% 33.25% 31.18% 0.97% 0.50% 0.99% G-6 MONROE COUNTY,FLORIDA SCHEDULE OF MONROE COUNTY CONTRIBUTIONS HEALTH INSURANCE SUBSIDY PROGRAM LAST 10 FISCAL YEARS* 2019 2018 2017 Contractually required contribution $ 1,393,010 $ 1,398,691 $ 1,392,250 Contributions in relation to the contractually required contribution (1,393,010) (1,398,691) (1,392,250) Contribution deficiency(excess) $ - $ - $ - Monroe County's covered payroll $ 82,678,699 $ 84,301,564 $ 69,003,713 Contributions as a percentage of covered payroll 1.68% 1.66% 2.02% *The amounts presented for each fiscal year were determined as of September 30. No data is available for the previous four years. G-7 2016 2015 2014 $ 1,168,862 $ 873,933 $ 792,153 (1,168,862) (873,933) (792,153) $ 70,699,621 $ 70,133,038 $ 69,338,053 1.65% 1.25% 1.14% G-8 MONROE COUNTY,FLORIDA REQUIRED SUPPLEMENTARY INFORMATION SCHEDULES OF CHANGES IN THE COUNTY'S NET PENSION LIABILITY AND RELATED RATIOS PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES LAST 10 FISCAL YEARS* (DOLLAR AMOUNTS IN THOUSANDS) 2019 2018 2017 Total pension liability Service Cost $ (6,170) $ 12,761 $ 22,937 Interest 8,724 9,146 9,146 Differences between expected and actual experience (35,295) 182 (39,039) Benefit payments,including refunds of employee contributions (31,680) (32,265) (32,265) Net change in total pension liability (64,421) (10,176) (39,221) Total pension liability-beginning 867,971 878,147 917,368 Total pension liability-ending $ 803,550 $ 867,971 $ 878,147 Covered payroll N/A N/A N/A County's total pension liability as a percentage of covered payroll N/A N/A N/A Notes to Schedule: *This schedule is presented to illustrate the requirement to show information for 10 years.However,until a full 10-year trend is compiled, governments should present information for those years for which information is available. There are no assets accumulated in a trust,as defined by Statement of Governmental Accounting Standards No.73,to pay benefits. G-9 2016 2015 2014 $ 16,394 $ 16,455 $ 18,434 8,895 8,054 12,219 33,108 89,397 (9,696) (28,365) (30,855) (25,575) 30,032 83,051 (4,618) 887,336 804,285 808,903 $ 917,368 $ 887,336 $ 804,285 N/A N/A N/A N/A N/A N/A G-10 MONROE COUNTY,FLORIDA REQUIRED SUPPLEMENTARY INFORMATION YEAR ENDED SEPTEMBER 30,2019 TEN YEAR SCHEDULE OF EMPLOYER CONTRIBUTIONS PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES Year Ending December 31, 2018 2017 2016 Contractually required contribution $ 61,388 $ 39,899 $ 39,899 Contributions in relation to the contractually required contribution 61,388 39,899 39,899 Contribution deficiency(excess) $ - $ - $ - Covered payroll $ - $ - $ - Contributions as a percentage of covered payroll N/A N/A N/A Notes to Schedule Valuation Date: Actuarially determined contribution rates are calculated as of January 1,which is nine months prior to the end of the fiscal year in which contributions are reported. Methods and Assumptions used to determine contribution rates: Inflation No increase as benefits are based on a flat amount per year of service Salary Increases N/A Investment rate of return 1.0%net of investment expenses, including inflation Retirement age N/A Mortality N/A G-11 2015 2014 2013 2012 2011 2010 2009 $ 30,304 $ 28,575 $ 36,788 $ 28,145 $ 30,379 $ 28,917 $ 30,791 30,304 28,575 36,788 28,145 30,379 28,917 30,791 N/A N/A N/A N/A N/A N/A N/A G-12 MONROE COUNTY, FLORIDA SCHEDULES OF REQUIRED SUPPLEMENTARY INFORMATION SCHEDULES OF CHANGES IN THE COUNTY'S TOTAL OPEB LIABILITY AND RELATED RATIOS LAST TEN FISCAL YEARS* 2019 2018 Total OPEB liability Service cost $ 1,892,547 $ 1,816,609 Interest 1,651,394 2,885,151 Changes of benefit terms - (29,384,495) Changes in assumptions or other inputs 7,320,839 (3,342,817) Benefit payments (1,662,776) (1,469,529) Net change in total OPEB liability 9,202,004 (29,495,081) Total OPEB liability-Beginning of Year 38,446,074 67,941,155 Total OPEB liability-End of Year $ 47,648,078 $ 38,446,074 Covered-employee payroll $ 65,681,000 $ 63,460,551 Total OPEB liability as a percentage of covered-employee payroll 72.54% 60.58% Notes to Schedule: No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement No. 75. Effective January 1,2018,the County implemented cost-saving benefit changes for its other postemployment benefit plan.These included premium rates that are calculated based on expected retiree costs for Medicare retirees and lower premium subsidies for eligible retirees. Changes include updating the mortality to be a generational table with updated projection scales as published by the Society of Actuaries, an interest rate using 20 year bond rates, and a change in Actuarial Cost methodology to the Entry Age Normal method. *This schedule should present information for the last ten years. However, until a full ten years of information can be compiled, information will be presented for as many years as are available. G-13 COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS AFFORDABLE HOUSING PROGRAMS To account for revenues and expenditures of various low income housing programs. ROAD & BRIDGE To account for revenues and expenditures of the constitutional gas taxes. TOURIST DEVELOPMENT DISTRICTS To account for the local option three-cent bed tax in five districts, all districts two cent, and administrative and promotional funds for the expenditures of advertising, promotions, and special events of the County's Tourist Development Council. IMPACT FEES To account for the revenues and expenditures relating to impact fees collected for roadways, parks and recreation, libraries, solid waste, police facilities, fire and EMS, and fair share housing. FIRE AND AMBULANCE DISTRICT#1, LOWER AND MIDDLE KEYS To account for revenues and expenditures in District#1 for fire and ambulance services. UNINCORPORATED AREA SERVICE DISTRICTS To account for all revenues and expenditures for planning, building and zoning, and parks and recreation services provided only to the unincorporated area of the County. MUNICIPAL POLICING To account for all revenues and expenditures for local road patrol law enforcement in the City of Marathon, City of Layton, and Islamorada, Village of Islands. DUCK KEY SECURITY DISTRICT To account for the revenues and expenditures in providing security services for the Duck Key District. LOCAL HOUSING ASSISTANCE SPECIAL REVENUE FUND The Local Housing Assistance Fund is used to account for the revenues and expenditures for the administration and implementation of the State Housing Initiatives Partnership Program. BOATING IMPROVEMENT To account for revenues and expenditures for providing boating-related activities, for removal of vessels and floating structures deemed a hazard to public safety and health, and for manatee and marine mammal protection and recovery. MISCELLANEOUS SPECIAL REVENUE To account for revenues and expenditures earmarked for specific purposes. ENVIRONMENTAL RESTORATION To account for all revenue and expenditures for fines/fees collected and earmarked for environmental protection. (Continued) NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS —CONTINUED COURT FACILITY FEES To account for revenues collected upon the institution of any civil action, suit or proceeding to be used exclusively in providing and maintaining existing and future facilities for the use of the Circuit and County Court systems. DRUG ABUSE TRUST To account for assessments collected for drug abuse programs and to disburse assistance grants for drug abuse treatment and/or educational programs which meet the standards for qualification of such programs by the Department of Health and Rehabilitative Services. MARATHON MUNICIPAL SERVICE To account for the revenues and expenditures for municipal services for Marathon. WASTEWATER MSTU To account for the revenues and expenditures for wastewater services for Bay Point, Big Coppitt, Key Largo, Stock Island, Conch Key, Long Key-Layton, and Duck Key. BUILDING FUND To account for the revenues and expenditures relating to building permits and for the administration and enforcement of the building code for the unincorporated area of the County. SHERIFF'S TEEN COURT To account for receipts and disbursements pertaining to a program designed to deter juveniles who are becoming involved in crime. SHERIFF'S FEDERAL FORFEITURE To account for the revenues from the U.S. Departments of Justice and Treasury. Expenditures are made in accordance with the guidelines issued by these agencies. SHERIFF'S STATE FORFEITURE To account for the proceeds from state forfeitures received primarily from the South Florida Drug and Money Laundering Task Force. SHERIFF'S CONTRACT ADMINISTRATIVE To account for the receipts of service fees collected for administering HIDTA, South Florida Law Enforcement Trust Fund, Impact Support, and the NHAC Financial Unit. Expenditures relate to the costs of administering their activities. SHERIFF'S INMATE COMMISSARY To account for the receipts and disbursements of inmate telephone commissions, canteen revenues, and other inmate programs. SHERIFF'S INTERAGENCY COMMUNICATIONS To account for revenues and expenditures allocated for radio communications. SHERIFF'S TRAUMA STAR To account for revenues and expenditures for the Sheriff's operation of the Trauma Star helicopter. (Continued) NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS —CONTINUED SHERIFF'S RADIO COMMUNICATIONS To account for revenues and expenditures from Court fees for radio communications. SHERIFF'S SHARED ASSET FORFEITURE To account for the revenues and expenditures of the Sheriff Department's shared asset forfeiture program. SHERIFF'S E911 To account for fees levied on each telephone access line in Monroe County for the enhancement of the 911 emergency telephone systems. CLERK'S MODERNIZATION TRUST To account for revenue received through an additional recording fee pursuant to Florida Statute 28.24(15)(d) to be used for equipment, equipment maintenance, training, and technical assistance necessary to modernize the Clerk's public records system. CLERK'S COURT RELATED To account for revenues and expenditures for providing court related services under the direction of the Clerk of the Circuit Court. SUPERVISOR'S VOTER EDUCATION & EQUIPMENT To account for revenue received through grants for the education of voters and the purchase of voting equipment. CAPITAL PROJECT FUNDS CLERK'S REVENUE NOTE To account for the Clerk's network system from the Florida Local Government Finance Commission Loan. INFRASTRUCTURE REVENUE BONDS SERIES 2007 To account for the revenues and expenditures funded by the Infrastructure Revenue Bonds Series 2007 debt issuance. BIG COPPITT WASTEWATER To account for the revenues and expenditures of the wastewater infrastructure for Big Coppitt Key. DUCK KEY WASTEWATER To account for the revenues and expenditures of the wastewater infrastructure for Duck Key. LONG KEY WASTEWATER PROJECT To account for the revenues and expenditures related to the construction of the Long Key Wastewater Project. LAND ACQUISITION FUND To account for the revenues and expenditures related to Land Acquisition. This page is intentionally left blank. MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30,2019 SPECIAL Tourist Tourist Affordable Development Development Tourist Housing Road and All Districts Admin &Promo Development Programs Bridge Two Cent Two Cent District One ASSETS Cash and Cash Equivalents $ 57,195 $ 1,086,908 $ 1,482,544 $ 1,486,267 $ 1,357,346 Investments 348,778 13,340,397 4,654,338 8,303,413 14,031,474 Accounts Receivable, Net - - 499 998 - Assessments Receivable - - - - - Due from Other Funds - - 63,379 117,703 98,038 Due from Other Governmental Units - 615,645 - - - Mortgages/Notes Receivable - - - - - Allowance for Mortgages/Notes Receivable - - - - - Interest Receivable 830 31,765 11,083 16,198 28,171 Total Assets $ 406,803 $ 15,074,715 $ 6,211,843 $ 9,924,579 $ 15,515,029 LIABILITIES, DEFERRED INFLOWS OF RESOURCES,AND FUND BALANCES Liabilities: Accounts Payable $ - $ 1,898,236 $ 278,624 $ 723,154 $ 411,279 Retainage Payable - 607 - - 19,903 Accrued Wages and Benefits Payable - - - - - Due to Other Funds - - - - - Due to Other Governmental Units - 492,617 - - 101,079 Other Current Liabilities - - - - - Deposits in Escrow - - - - - Total Liabilities - 2,391,460 278,624 723,154 532,261 Deferred Inflows of Resources: Advances from Other Governments - - - - - Unavailable Revenues - - - - - Total Deferred Inflows of Resources - - - - - Fund Balances: Restricted 406,803 12,683,255 5,933,219 9,201,425 14,761,004 Committed - - - - 221,764 Assigned - - - - - Unassigned - - - - - Total Fund Balances 406,803 12,683,255 5,933,219 9,201,425 14,982,768 Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 406,803 $ 15,074,715 $ 6,211,843 $ 9,924,579 $ 15,515,029 H-1 REVENUE FUNDS Tourist Tourist Tourist Tourist Impact Fees, Development Development Development Development Impact Fees, Parks, and District Two District Three District Four District Five Roadways Recreation $ 323,143 $ 1,145,946 $ 609,327 $ 612,629 $ 251,818 $ 115,133 1,333,837 3,298,462 1,887,761 2,582,014 1,427,014 648,029 11,390 28,846 17,746 25,062 - - 3,176 7,853 4,495 6,148 3,398 1,542 $ 1,671,546 $ 4,481,107 $ 2,519,329 $ 3,225,853 $ 1,682,230 $ 764,704 $ 21,130 $ 255,545 $ 45,713 $ 60,148 $ - $ - 169,836 34,000 448,815 - - - 190,966 289,545 494,528 60,148 - - 1,480,580 4,191,562 2,024,801 3,165,705 1,682,230 764,704 1,480,580 4,191,562 2,024,801 3,165,705 1,682,230 764,704 $ 1,671,546 $ 4,481,107 $ 2,519,329 $ 3,225,853 $ 1,682,230 $ 764,704 (Continued) H-2 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET(CONTINUED) NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30,2019 SPECIAL Impact Fees, Impact Fees, Impact Fees, Impact Fees, Impact Fees, Fair Share Libraries Solid Waste Police Facilities Fire and EMS Housing ASSETS Cash and Cash Equivalents $ 172,023 $ 14,801 $ - $ 22,562 $ - Investments 1,049,244 90,273 - 120,465 - Accounts Receivable, Net - - - - - Assessments Receivable - - - - - Due from Other Funds - - - - - Due from Other Governmental Units - - - - - Mortgages/Notes Receivable - - - - - Allowance for Mortgages/Notes Receivable - - - - - Interest Receivable 2,499 215 - 286 - Total Assets $ 1,223,766 $ 105,289 $ - $ 143,313 $ - LIABILITIES, DEFERRED INFLOWS OF RESOURCES,AND FUND BALANCES Liabilities: Accounts Payable $ - $ - $ - Retainage Payable - - - - - Accrued Wages and Benefits Payable - - - - - Due to Other Funds - - - - - Due to Other Governmental Units - - - - - Other Current Liabilities - - - - - Deposits in Escrow - - - - - Total Liabilities - - - - - Deferred Inflows of Resources: Advances from Other Governments - - - - - Unavailable Revenues - - - - - Total Deferred Inflows of Resources - - - - - Fund Balances: Restricted 1,223,766 105,289 - 143,313 - Committed - - - - - Assigned - - - - - Unassigned - - - - - Total Fund Balances 1,223,766 105,289 - 143,313 - Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 1,223,766 $ 105,289 $ - $ 143,313 $ - H-3 REVENUE FUNDS Fire&Amb Unincorporated Unincorporated District One, Area Service Area Service Duck Key Lower and District, Dist, Planning Municipal Security Middle Keys Parks and Rec Bldg and Zoning Policing District $ 288,265 $ 33,601 $ 203,528 $ 347,677 $ 29,698 4,193,271 750,433 8,502,408 1,179,310 313,590 142,512 - 152 - - 186,417 28,375 5,638 - - - - 134,413 - - 16,773 1,796 21,185 2,808 747 $ 4,827,238 $ 814,205 $ 8,867,324 $ 1,529,795 $ 344,035 $ 77,709 $ 104,423 $ 69,622 $ - $ 5,693 - - - 90,932 - 2,689 23,392 187 - - - 5,772 199,202 - - 80,398 133,587 269,011 90,932 5,693 - 680,618 8,598,313 1,438,863 338,342 4,746,840 - - - - 4,746,840 680,618 8,598,313 1,438,863 338,342 $ 4,827,238 $ 814,205 $ 8,867,324 $ 1,529,795 $ 344,035 (Continued) H-4 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET(CONTINUED) NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30,2019 SPECIAL Local Miscellaneous Housing Boating Special Environmental Assistance Improvement Revenue Restoration ASSETS Cash and Cash Equivalents $ 340,502 $ 362,241 $ 490,180 $ 656,963 Investments 2,175,399 2,755,945 2,642,481 3,150,701 Accounts Receivable, Net - - - - Assessments Receivable - - - - Due from Other Funds - - 42,587 - Due from Other Governmental Units - - - - Mortgages/Notes Receivable 8,957,671 - - - Allowance for Mortgages/Notes Receivable (8,957,671) - - - Interest Receivable 5,180 6,562 6,292 7,501 Total Assets $ 2,521,081 $ 3,124,748 $ 3,181,540 $ 3,815,165 LIABILITIES, DEFERRED INFLOWS OF RESOURCES,AND FUND BALANCES Liabilities: Accounts Payable $ 139,506 $ 36,920 $ 25,414 $ 3,723 Retainage Payable - - - - Accrued Wages and Benefits Payable - - - - Due to Other Funds - - 20,622 - Due to Other Governmental Units - - 17 - Other Current Liabilities - - - - Deposits in Escrow - - - - Total Liabilities 139,506 36,920 46,053 3,723 Deferred Inflows of Resources: Advances from Other Governments - - - - Unavailable Revenues - - - - Total Deferred Inflows of Resources - - - - Fund Balances: Restricted 2,381,575 3,087,828 3,135,487 - Committed - - - 3,811,442 Assigned - - - - Unassigned - - - - Total Fund Balances 2,381,575 3,087,828 3,135,487 3,811,442 Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 2,521,081 $ 3,124,748 $ 3,181,540 $ 3,815,165 H-5 REVENUE FUNDS Court Drug Marathon Bay Point Big Coppitt Facility Abuse Municipal Wastewater Wastewater Fees Trust Service MSTU MSTU $ 628,735 $ 1,786 $ 376 $ 6,610 $ 73 3,567,691 62,488 2,294 40,732 445 38,406 1,123 - - - 8,495 149 5 97 1 $ 4,243,327 $ 65,546 $ 2,675 $ 47,439 $ 519 $ 181 $ 3,252 $ - $ - $ - 181 3,252 - - - 4,243,146 62,294 2,675 - - - - - 47,439 519 4,243,146 62,294 2,675 47,439 519 $ 4,243,327 $ 65,546 $ 2,675 $ 47,439 $ 519 (Continued) H-6 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET(CONTINUED) NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30,2019 SPECIAL Key Largo Stock Island Long Key, Wastewater Wastewater Conch Key Layton MSTU MSTU MSTU MSTU ASSETS Cash and Cash Equivalents $ 2,095 $ 106,966 $ 70 $ 36,136 Investments 6,842 706,308 428 225,071 Accounts Receivable, Net - - - - Assessments Receivable - 1,879,097 - - Due from Other Funds 13 886 - - Due from Other Governmental Units - - - - Mortgages/Notes Receivable - - - - Allowance for Mortgages/Notes Receivable - - - - Interest Receivable 16 1,682 1 536 Total Assets $ 8,966 $ 2,694,939 $ 499 $ 261,743 LIABILITIES, DEFERRED INFLOWS OF RESOURCES,AND FUND BALANCES Liabilities: Accounts Payable $ - $ 180 $ - $ 156 Retainage Payable - - - - Accrued Wages and Benefits Payable - - - - Due to Other Funds - - - - Due to Other Governmental Units - - - - Other Current Liabilities - - - - Deposits in Escrow - - - - Total Liabilities - 180 - 156 Deferred Inflows of Resources: Advances from Other Governments - - - - Unavailable Revenues - 1,862,883 - - Total Deferred Inflows of Resources - 1,862,883 - - Fund Balances: Restricted - 831,876 - - Committed 8,966 - 499 261,587 Assigned - - - - Unassigned - - - - Total Fund Balances 8,966 831,876 499 261,587 Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 8,966 $ 2,694,939 $ 499 $ 261,743 H-7 REVENUE FUNDS Sheriffs Sheriffs Sheriffs Duck Key Building Teen Federal State MSTU Fund Court Forfeiture Forfeiture $ 1,539 $ 58,672 $ - $ 3,887,716 $ 88,448 48,079 2,289,101 - - 520,800 - - 14,826 - - - - 3,860 - - 121 5,927 - - 1,240 $ 49,739 $ 2,353,700 $ 18,686 $ 3,887,716 $ 610,488 $ - $ 173,088 $ - $ 47,117 $ 605 - - - 152,823 - - 12,077 - - - - 8,110 - - - - 193,275 - 199,940 605 - 2,160,425 18,686 3,687,776 609,883 49,739 - - - - 49,739 2,160,425 18,686 3,687,776 609,883 $ 49,739 $ 2,353,700 $ 18,686 $ 3,887,716 $ 610,488 (Continued) H-8 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET(CONTINUED) NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30,2019 SPECIAL Sheriffs Sheriffs Sheriffs Contract Sheriffs Interagency Trauma Administrative Commissary Communications Star ASSETS Cash and Cash Equivalents $ - $ 1,011,437 $ 388,803 $ 87,611 Investments - - - - Accounts Receivable, Net - 35,972 7,110 - Assessments Receivable - - - - Due from Other Funds 1,383,458 - 11,979 - Due from Other Governmental Units 147,000 - 100 - Mortgages/Notes Receivable - - - - Allowance for Mortgages/Notes Receivable - - - - Interest Receivable - - - - Total Assets $ 1,530,458 $ 1,047,409 $ 407,992 $ 87,611 LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES Liabilities: Accounts Payable $ - $ 9,668 $ 9,621 $ - Retainage Payable - - - - Accrued Wages and Benefits Payable - 8,532 - - Due to Other Funds 251,822 11,126 - 87,611 Due to Other Governmental Units 2,409 12,500 - - Other Current Liabilities - - - - Deposits in Escrow - - - - Total Liabilities 254,231 41,826 9,621 87,611 Deferred Inflows of Resources: Advances from Other Governments - - - - Unavailable Revenues 36,329 - - - Total Deferred Inflows of Resources 36,329 - - - Fund Balances: Restricted - 1,005,583 398,371 - Committed 1,239,898 - - - Assigned - - - - Unassigned - - - - Total Fund Balances 1,239,898 1,005,583 398,371 - Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 1,530,458 $ 1,047,409 $ 407,992 $ 87,611 H-9 REVENUE FUNDS Sheriffs Sheriffs Clerk's Clerk's Radio Shared Asset Sheriffs Records Court Communication Forfeiture E911 Modernization Related $ 7,776 $ 198,087 $ 1,481,152 $ 2,473,520 $ 1,934,905 - 4,758,687 10 - - - 743 - - - - - - - 699 - - - - 6,201 - 26,634 - - - $ 7,776 $ 4,984,151 $ 1,481,162 $ 2,473,520 $ 1,941,805 $ - $ 48,679 $ 37,192 $ 495 $ 356,714 - - 22,309 - - 7,776 - 38,370 - 1,089,420 - - - - 495,671 7,776 48,679 97,871 495 1,941,805 - 4,935,472 1,383,291 2,473,025 - - 4,935,472 1,383,291 2,473,025 - $ 7,776 $ 4,984,151 $ 1,481,162 $ 2,473,520 $ 1,941,805 (Continued) H-10 MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET(CONTINUED) NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30,2019 CAPITAL Total Nonmajor Clerk's Infrastructure Big Coppitt Special Rev Revenue Revenue Bonds Wastewater Funds Note Series 2007 Project ASSETS Cash and Cash Equivalents $ 23,892,810 $ 21,150 $ 258,285 $ 4,139 Investments 91,008,013 88,183 - 3,702 Accounts Receivable, Net 187,986 - - - Assessments Receivable 1,879,097 - - 1,995,163 Due from Other Funds 2,076,571 - - 749 Due from Other Governmental Units 907,219 - - - Mortgages/Notes Receivable 8,957,671 - - - Allowance for Mortgages/Notes Receivable (8,957,671) - - - Interest Receivable 231,407 215 - 10 Total Assets $ 120,183,103 $ 109,548 $ 258,285 $ 2,003,763 LIABILITIES, DEFERRED INFLOWS OF RESOURCES,AND FUND BALANCES Liabilities: Accounts Payable $ 4,843,787 $ - $ 71,218 $ - Retainage Payable 20,510 - 3,318 - Accrued Wages and Benefits Payable 30,841 - - - Due to Other Funds 1,750,502 - - - Due to Other Governmental Units 1,795,289 - - - Other Current Liabilities - - - - Deposits in Escrow 213,084 - - - Total Liabilities 8,654,013 - 74,536 - Deferred Inflows of Resources: Advances from Other Governments - - - - Unavailable Revenues 1,899,212 - - 1,941,477 Total Deferred Inflows of Resources 1,899,212 - - 1,941,477 Fund Balances: Restricted 99,241,185 109,548 183,749 62,286 Committed 5,641,853 - - - Assigned 4,746,840 - - - Unassigned - - - - Total Fund Balances 109,629,878 109,548 183,749 62,286 Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 120,183,103 $ 109,548 $ 258,285 $ 2,003,763 H-11 PROJECT FUNDS Total Duck Key Long Key Land Nonmajor Wastewater Wastewater Acquisition Governmental Project Project Fund Funds $ 32,472 $ 44,074 $ 89,345 $ 24,342,275 322,293 268,789 1,713,208 93,404,188 - - - 187,986 437,788 - - 4,312,048 602 - - 2,077,922 - 424,502 2,475 1,334,196 - - - 8,957,671 - - - (8,957,671) 767 640 4,090 237,129 $ 793,922 $ 738,005 $ 1,809,118 $ 125,895,744 $ - $ - $ - $ 4,915,005 - - - 23,828 - - - 30,841 - - - 1,750,502 - - - 1,795,289 - - - 213,084 - - - 8,728,549 426,514 - - 4,267,203 426,514 - - 4,267,203 367,408 738,005 1,809,118 102,511,299 - - - 5,641,853 - - - 4,746,840 367,408 738,005 1,809,118 112,899,992 $ 793,922 $ 738,005 $ 1,809,118 $ 125,895,744 H-12 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2019 SPECIAL Tourist Tourist Affordable Development Development Tourist Housing Road and All Districts Admin &Promo Development Programs Bridge Two Cent Two Cent District One REVENUES: Taxes $ - $ 2,546,939 $ 6,485,636 $ 13,439,514 $ 10,763,188 Licenses and Permits - - - - - Intergovernmental - 3,863,751 - - - Charges for Services - 4,778 - - - Fines and Forfeitures - - - - - Investment Income 11,185 425,897 153,217 212,526 389,747 Miscellaneous - 80,865 - 275 - Total Revenues 11,185 6,922,230 6,638,853 13,652,315 11,152,935 EXPENDITURES: Current: General Government - - - - - Public Safety - - - - - Physical Environment - - - - - Transportation - 8,004,805 - - - Economic Environment - - 5,529,618 10,684,870 8,403,122 Human Services - - - - - Culture and Recreation - - - - - Court Related - - - - - Capital Projects - - - - - Total Expenditures - 8,004,805 5,529,618 10,684,870 8,403,122 Excess/Deficiency of Revenues Over(Under)Expenditures 11,185 (1,082,575) 1,109,235 2,967,445 2,749,813 OTHER FINANCING SOURCES(USES): Transfers from Other Funds - - 63,379 117,703 98,038 Transfers to Other Funds - (674,003) (115,298) (132,278) (54,392) Total Other Financing Sources(Uses) - (674,003) (51,919) (14,575) 43,646 Net Change in Fund Balances 11,185 (1,756,578) 1,057,316 2,952,870 2,793,459 Fund Balances-October 1 395,618 14,439,833 4,875,903 6,248,555 12,189,309 Fund Balances-September 30 $ 406,803 $ 12,683,255 $ 5,933,219 $ 9,201,425 $ 14,982,768 H-13 REVENUE FUNDS Tourist Tourist Tourist Tourist Impact Fees, Development Development Development Development Impact Fees, Parks, and District Two District Three District Four District Five Roadways Recreation $ 1,253,830 $ 3,147,918 $ 1,948,960 $ 2,811,254 $ - $ - - - - - 106,615 47,600 43,013 109,344 61,752 83,818 42,835 20,711 1,296,843 3,257,262 2,010,712 2,895,072 149,450 68,311 1,054,459 2,453,360 1,938,233 2,241,467 - - 1,054,459 2,453,360 1,938,233 2,241,467 - - 242,384 803,902 72,479 653,605 149,450 68,311 11,390 28,846 17,746 25,062 - - (14,975) (13,595) (14,367) (27,740) - - (3,585) 15,251 3,379 (2,678) - - 238,799 819,153 75,858 650,927 149,450 68,311 1,241,781 3,372,409 1,948,943 2,514,778 1,532,780 696,393 $ 1,480,580 $ 4,191,562 $ 2,024,801 $ 3,165,705 $ 1,682,230 $ 764,704 (Continued) H-14 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES(CONTINUED) NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2019 SPECIAL Impact Fees, Impact Fees, Impact Fees, Impact Fees, Libraries Solid Waste Police Facilities Fire and EMS REVENUES: Taxes $ - $ - $ - $ - Licenses and Permits 3,148 - - 27,829 Intergovernmental - - - - Charges for Services - - - - Fines and Forfeitures - - - - Investment Income 34,322 2,942 508 3,696 Miscellaneous - - - - Total Revenues 37,470 2,942 508 31,525 EXPENDITURES: Current: General Government - - - - Public Safety - - 129,656 - Physical Environment - - - - Transportation - - - - Economic Environment - - - - Human Services - - - - Culture and Recreation - - - - Court Related - - - - Capital Projects - - - - Total Expenditures - - 129,656 - Excess/Deficiency of Revenues Over(Under)Expenditures 37,470 2,942 (129,148) 31,525 OTHER FINANCING SOURCES(USES): Transfers from Other Funds - - - - Transfers to Other Funds - - - - Total Other Financing Sources(Uses) - - - - Net Change in Fund Balances 37,470 2,942 (129,148) 31,525 Fund Balances-October 1 1,186,296 102,347 129,148 111,788 Fund Balances-September 30 $ 1,223,766 $ 105,289 $ - $ 143,313 H-15 REVENUE FUNDS Fire&Amb Unincorporated Unincorporated Impact Fees, District One, Area Service Area Service Duck Key Fair Share Lower and District, Dist, Planning Municipal Security Housing Middle Keys Parks and Rec Bldg and Zoning Policing District $ - $ 12,234,148 $ 2,178,112 $ 527,555 $ 4,399,915 $ - - - - - - 102,040 - 148,833 6,927 1,375,859 - - - 792,684 - 3,421,043 3,897,443 - - - - 2,127,481 - - 176 281,024 46,016 293,421 60,100 10,443 - 34,265 40,226 10,550 - - 176 13,490,954 2,271,281 7,755,909 8,357,458 112,483 - - - 2,831,782 - - - 11,508,020 - 3,048,541 864,640 96,256 - - - 931,383 - - - - 2,326,447 - - - - 11,508,020 2,326,447 6,811,706 864,640 96,256 176 1,982,934 (55,166) 944,203 7,492,818 16,227 - 186,417 28,376 4,938 - - (44,930) (1,747,912) (63,993) (1,431,101) (7,795,157) - (44,930) (1,561,495) (35,617) (1,426,163) (7,795,157) - (44,754) 421,439 (90,783) (481,960) (302,339) 16,227 44,754 4,325,401 771,401 9,080,273 1,741,202 322,115 $ - $ 4,746,840 $ 680,618 $ 8,598,313 $ 1,438,863 $ 338,342 (Continued) H-16 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES(CONTINUED) NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2019 SPECIAL Local Miscellaneous Housing Boating Special Environmental Assistance Improvement Revenue Restoration REVENUES: Taxes $ - $ - $ - $ - Licenses and Permits - - 104,903 - Intergovernmental 350,000 - - - Charges for Services - 760,923 390,162 - Fines and Forfeitures - - 235,142 1,256,739 Investment Income 80,038 88,023 87,877 97,588 Miscellaneous 171,456 9,002 98,006 2,011 Total Revenues 601,494 857,948 916,090 1,356,338 EXPENDITURES: Current: General Government - - 3,917 - Public Safety - - 111,242 - Physical Environment - 483,645 - 259,904 Transportation - - - - Economic Environment 1,062,962 - 1,275 - Human Services - - 130,842 - Culture and Recreation - - 3,142 - Court Related - - 417,078 - Capital Projects - - - - Total Expenditures 1,062,962 483,645 667,496 259,904 Excess/Deficiency of Revenues Over(Under)Expenditures (461,468) 374,303 248,594 1,096,434 OTHER FINANCING SOURCES(USES): Transfers from Other Funds - - 1,958 - Transfers to Other Funds - (418,110) (194,271) (24,035) Total Other Financing Sources(Uses) - (418,110) (192,313) (24,035) Net Change in Fund Balances (461,468) (43,807) 56,281 1,072,399 Fund Balances-October 1 2,843,043 3,131,635 3,079,206 2,739,043 Fund Balances-September 30 $ 2,381,575 $ 3,087,828 $ 3,135,487 $ 3,811,442 H-17 REVENUE FUNDS Court Drug Marathon Bay Point Big Coppitt Facility Abuse Municipal Wastewater Wastewater Fees Trust Service MSTU MSTU 476,702 33,650 - - - 114,512 1,925 74 1,300 14 591,214 35,575 74 1,300 14 - - - 69 107 - 31,832 - - - 172,930 - - - - 172,930 31,832 - 69 107 418,284 3,743 74 1,231 (93) 418,284 3,743 74 1,231 (93) 3,824,862 58,551 2,601 46,208 612 $ 4,243,146 $ 62,294 $ 2,675 $ 47,439 $ 519 (Continued) H-18 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES(CONTINUED) NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2019 SPECIAL Key Largo Stock Island Long Key, Wastewater Wastewater Conch Key Layton MSTU MTSU MSTU MSTU REVENUES: Taxes $ 1,002 $ - $ - $ - Licenses and Permits - 58,557 -Intergovernmental - - - - Charges for Services - - - - Fines and Forfeitures - - - - Investment Income 222 132,023 14 7,455 Miscellaneous - 14,889 - - Total Revenues 1,224 205,469 14 7,455 EXPENDITURES: Current: General Government - - - - Public Safety - - - - Physical Environment 30 276,936 - 2,997 Transportation - - - - Economic Environment - - - - Human Services - - - - Culture and Recreation - - - - Court Related - - - - Capital Projects - - - - Total Expenditures 30 276,936 - 2,997 Excess/Deficiency of Revenues Over(Under)Expenditures 1,194 (71,467) 14 4,458 OTHER FINANCING SOURCES(USES): Transfers from Other Funds 13 886 - - Transfers to Other Funds - (2,000) - - Total Other Financing Sources(Uses) 13 (1,114) - - Net Change in Fund Balances 1,207 (72,581) 14 4,458 Fund Balances-October 1 7,759 904,457 485 257,129 Fund Balances-September 30 $ 8,966 $ 831,876 $ 499 $ 261,587 H-19 REVENUE FUNDS Sheriffs Sheriffs Sheriffs Duck Key Building Teen Federal State MSTU Fund Court Forfeiture Forfeiture - 5,471,975 - - - - - - 2,966,551 - - 121,645 50,214 - - - - - - 13,726 1,627 81,797 - 100,055 16,991 - 36,698 - - - 1,627 5,712,115 50,214 3,066,606 30,717 - 5,680,268 95,560 2,546,600 24,457 10,651 - - - - 10,651 5,680,268 95,560 2,546,600 24,457 (9,024) 31,847 (45,346) 520,006 6,260 - 44,930 28,497 - - - (538,659) - - - - (493,729) 28,497 - - (9,024) (461,882) (16,849) 520,006 6,260 58,763 2,622,307 35,535 3,167,770 603,623 $ 49,739 $ 2,160,425 $ 18,686 $ 3,687,776 $ 609,883 (Continued) H-20 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES(CONTINUED) NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2019 SPECIAL Sheriffs Sheriffs Sheriffs Contract Sheriffs Interagency Trauma Administrative Commissary Communications Star REVENUES: Taxes $ - $ - $ - $ - Licenses and Permits - - - - Intergovernmental 837,875 - - - Charges for Services 3,621,982 573,558 19,878 - Fines and Forfeitures - - - - Investment Income 16,851 19,943 8,745 - Miscellaneous - 33,067 - - Total Revenues 4,476,708 626,568 28,623 - EXPENDITURES: Current: General Government - - - - Public Safety 4,531,121 415,084 314,347 5,970,966 Physical Environment - - - - Transportation - - - - Economic Environment - - - - Human Services - - - - Culture and Recreation - - - - Court Related - - - - Capital Projects - - - - Total Expenditures 4,531,121 415,084 314,347 5,970,966 Excess/Deficiency of Revenues Over(Under)Expenditures (54,413) 211,484 (285,724) (5,970,966) OTHER FINANCING SOURCES(USES): Transfers from Other Funds 2,187 - 291,523 6,058,577 Transfers to Other Funds - - - (87,611) Total Other Financing Sources(Uses) 2,187 - 291,523 5,970,966 Net Change in Fund Balances (52,226) 211,484 5,799 - Fund Balances-October 1 1,292,124 794,099 392,572 - Fund Balances-September 30 $ 1,239,898 $ 1,005,583 $ 398,371 $ - H-21 REVENUE FUNDS Sheriffs Sheriffs Clerk's Clerk's Radio Shared Asset Sheriffs Records Court Communication Forfeiture E911 Modernization Related - - - - 1,218,954 66,547 - 465,692 297,872 944,380 - - - - 1,638,863 - 448,717 35,464 50,617 32,856 - - - - 6,349 66,547 448,717 501,156 348,489 3,841,402 794,991 150,736 772,508 - - - - - 139,203 4,052,425 794,991 150,736 772,508 139,203 4,052,425 (728,444) 297,981 (271,352) 209,286 (211,023) 736,220 - - - 1,286,888 (7,776) - - - (1,075,865) 728,444 - - - 211,023 - 297,981 (271,352) 209,286 - - 4,637,491 1,654,643 2,263,739 - $ - $ 4,935,472 $ 1,383,291 $ 2,473,025 $ - (Continued) H-22 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES(CONTINUED) NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2019 CAPITAL Total Nonmajor Clerk's Infrastructure Big Coppitt Special Rev Revenue Revenue Bonds Wastewater Funds Note Series 2007 Project REVENUES: Taxes $ 61,737,971 $ - $ - $ - Licenses and Permits 5,922,667 - - 243,645 Intergovernmental 10,768,750 - - - Charges for Services 15,939,153 - - - Fines and Forfeitures 5,271,951 - - - Investment Income 3,711,421 3,293 6,928 58,781 Miscellaneous 537,659 - - 31,855 Total Revenues 103,889,572 3,293 6,928 334,281 EXPENDITURES: Current: General Government 2,835,699 - - - Public Safety 37,054,993 - - - Physical Environment 1,965,722 - - - Transportation 8,004,805 - - - Economic Environment 33,369,366 - - - Human Services 162,674 - - - Culture and Recreation 2,329,589 - - - Court Related 4,781,636 - - - Capital Projects - - 100,777 20,993 Total Expenditures 90,504,484 - 100,777 20,993 Excess/Deficiency of Revenues Over(Under)Expenditures 13,385,088 3,293 (93,849) 313,288 OTHER FINANCING SOURCES(USES): Transfers from Other Funds 9,033,574 - - 264,390 Transfers to Other Funds (14,478,068) - - (682,000) Total Other Financing Sources(Uses) (5,444,494) - - (417,610) Net Change in Fund Balances 7,940,594 3,293 (93,849) (104,322) Fund Balances-October 1 101,689,284 106,255 277,598 166,608 Fund Balances-September 30 $ 109,629,878 $ 109,548 $ 183,749 $ 62,286 (Continued) H-23 PROJECT FUNDS Total Duck Key Long Key Land Nonmajor Wastewater Wastewater Acquisition Governmental Project Project Fund Funds $ - $ - $ - $ 61,737,971 90,400 - - 6,256,712 - - 61,253 10,830,003 - - - 15,939,153 - - - 5,271,951 19,976 8,909 95,045 3,904,353 6,754 - - 576,268 117,130 8,909 156,298 104,516,411 - - - 2,835,699 - - - 37,054,993 - - - 1,965,722 - - - 8,004,805 - - - 33,369,366 - - - 162,674 - - - 2,329,589 - - - 4,781,636 28,808 4,966 2,732,089 2,887,633 28,808 4,966 2,732,089 93,392,117 88,322 3,943 (2,575,791) 11,124,294 598 - - 9,298,562 - - - (15,160,068) 598 - - (5,861,506) 88,920 3,943 (2,575,791) 5,262,788 278,488 734,062 4,384,909 107,637,204 $ 367,408 $ 738,005 $ 1,809,118 $ 112,899,992 H-24 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL AFFORDABLE HOUSING PROGRAMS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 1,100 $ 1,100 $ 11,185 $ 10,085 Total Revenues 1,100 1,100 11,185 10,085 EXPENDITURES: Current: Economic Environment: Affordable Housing Initiatives 290,000 290,000 - 290,000 Total Expenditures 290,000 290,000 - 290,000 Excess/Deficiency of Revenues Over (Under) Expenditures (288,900) (288,900) 11,185 300,085 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (9,000) (9,000) - 9,000 Reserve for Cash Balance (15,000) (15,000) - 15,000 Total Other Financing Sources (Uses) (24,000) (24,000) - 24,000 Net Change in Fund Balances (312,900) (312,900) 11,185 324,085 Fund Balances -October 1 312,900 312,900 395,618 82,718 Fund Balances -September 30 $ - $ - $ 406,803 $ 406,803 H-25 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL ROAD AND BRIDGE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30,2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 2,612,000 $ 2,612,000 $ 2,546,939 $ (65,061) Intergovernmental 4,075,000 4,075,000 3,863,751 (211,249) Charges for Services 66,000 66,000 4,778 (61,222) Investment Income 35,000 35,000 425,897 390,897 Miscellaneous 22,700 22,700 80,865 58,165 Total Revenues 6,810,700 6,810,700 6,922,230 111,530 EXPENDITURES: Current: Transportation: Road Department 4,407,029 4,613,133 3,293,985 1,319,148 County Engineer Road and Bridge 485,106 546,290 533,840 12,450 Street Lighting 194,691 194,691 144,473 50,218 Local Option Gas Tax Projects 362,583 362,583 282,478 80,105 80% Gas Tax 500,000 500,000 17,972 482,028 Paving Backlog 1,350,846 1,350,846 47,406 1,303,440 Roadway Projects 1,700,000 4,463,174 2,899,181 1,563,993 Sugarloaf Blvd Bridge 1,573,866 1,573,866 68,384 1,505,482 Sustainability Roads 1,000,000 1,000,000 717,086 282,914 Total Expenditures 11,574,121 14,604,583 8,004,805 6,599,778 Excess/Deficiency of Revenues Over(Under) Expenditures (4,763,421) (7,793,883) (1,082,575) 6,711,308 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (707,854) (160,567) - 160,567 Reserve for Cash Balance (608,000) (608,000) - 608,000 Transfers to Other Funds (4,040,829) (1,557,655) (674,003) 883,652 Total Other Financing Sources (Uses) (5,356,683) (2,326,222) (674,003) 1,652,219 Net Change in Fund Balances (10,120,104) (10,120,105) (1,756,578) 8,363,527 Fund Balances -October 1 10,120,104 10,120,105 14,439,833 4,319,728 Fund Balances -September 30 $ - $ - $ 12,683,255 $ 12,683,255 H-26 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, ALL DISTRICTS, TWO CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 5,940,375 $ 5,940,375 $ 6,485,636 $ 545,261 Investment Income - - 153,217 153,217 Total Revenues 5,940,375 5,940,375 6,638,853 698,478 EXPENDITURES: Current: Economic Environment: Cultural Umbrella 1,032,436 1,032,436 755,835 276,601 Fishing Umbrella 815,000 815,000 682,857 132,143 Dive Umbrella 800,000 800,000 787,045 12,955 Operations - Events 3,092,510 3,077,979 2,535,210 542,769 Catastrophic Emergency 1,827,833 1,827,833 - 1,827,833 Special Projects 1,251,268 1,251,268 768,671 482,597 Total Expenditures 8,819,047 8,804,516 5,529,618 3,274,898 Excess/Deficiency of Revenues Over (Under) Expenditures (2,878,672) (2,864,141) 1,109,235 3,973,376 OTHER FINANCING SOURCES (USES): Transfers to Other Funds (58,182) (72,713) (115,298) (42,585) Transfers from Other Funds - - 63,379 63,379 Total Other Financing Sources (Uses) (58,182) (72,713) (51,919) 20,794 Net Change in Fund Balances (2,936,854) (2,936,854) 1,057,316 3,994,170 Fund Balances -October 1 2,936,854 2,936,854 4,875,903 1,939,049 Fund Balances -September 30 $ - $ - $ 5,933,219 $ 5,933,219 H-27 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, ADMINISTRATION AND PROMOTIONAL, TWO CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 12,309,625 $ 12,309,625 $ 13,439,514 $ 1,129,889 Investment Income - - 212,526 212,526 Miscellaneous - - 275 275 Total Revenues 12,309,625 12,309,625 13,652,315 1,342,690 EXPENDITURES: Current: Economic Environment: Advertising and Promotion 10,440,757 10,403,423 9,774,903 628,520 Administrative Services 1,458,783 1,421,449 909,967 511,482 Catastrophic Emergency 1,326,982 1,326,982 - 1,326,982 Special Projects - - - - Total Expenditures 13,226,522 13,151,854 10,684,870 2,466,984 Excess/Deficiency of Revenues Over (Under) Expenditures (916,897) (842,229) 2,967,445 3,809,674 OTHER FINANCING SOURCES (USES): Transfers to Other Funds (39,610) (114,278) (132,278) (18,000) Transfers from Other Funds - - 117,703 117,703 Total Other Financing Sources (Uses) (39,610) (114,278) (14,575) 99,703 Net Change in Fund Balances (956,507) (956,507) 2,952,870 3,909,377 Fund Balances -October 1 956,507 956,507 6,248,555 5,292,048 Fund Balances -September 30 $ - $ - $ 9,201,425 $ 9,201,425 H-28 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT ONE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 9,938,950 $ 9,938,950 $ 10,763,188 $ 824,238 Investment Income - - 389,747 389,747 Total Revenues 9,938,950 9,938,950 11,152,935 1,213,985 EXPENDITURES: Current: Economic Environment: Advertising and Promotion 4,623,080 4,908,578 4,727,318 181,260 Administrative Services 450,393 450,393 4,271 446,122 Special Events 572,596 572,596 331,051 241,545 Bricks and Mortar 10,602,808 10,317,310 2,956,730 7,360,580 Information Services 383,761 383,761 383,752 9 Beaches 314,000 314,000 - 314,000 Total Expenditures 16,946,638 16,946,638 8,403,122 8,543,516 Excess/Deficiency of Revenues Over (Under) Expenditures (7,007,688) (7,007,688) 2,749,813 9,757,501 OTHER FINANCING SOURCES (USES): Transfers to Other Funds (59,799) (59,799) (54,392) 5,407 Transfers from Other Funds - - 98,038 98,038 Total Other Financing Sources (Uses) (59,799) (59,799) 43,646 103,445 Net Change in Fund Balances (7,067,487) (7,067,487) 2,793,459 9,860,946 Fund Balances -October 1 7,067,487 7,067,487 12,189,309 5,121,822 Fund Balances -September 30 $ - $ - $ 14,982,768 $ 14,982,768 H-29 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT TWO SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 1,189,900 $ 1,189,900 $ 1,253,830 $ 63,930 Investment Income - - 43,013 43,013 Total Revenues 1,189,900 1,189,900 1,296,843 106,943 EXPENDITURES: Current: Economic Environment: Advertising and Promotion 670,229 699,970 644,060 55,910 Administrative Services 49,789 34,814 10,326 24,488 Special Events 1,099 1,099 - 1,099 Bricks and Mortar 842,758 813,017 304,313 508,704 Information Services 95,760 95,760 95,760 - Total Expenditures 1,659,635 1,644,660 1,054,459 590,201 Excess/Deficiency of Revenues Over (Under) Expenditures (469,735) (454,760) 242,384 697,144 OTHER FINANCING SOURCES (USES): Transfers to Other Funds - (14,975) (14,975) - Transfers from Other Funds - - 11,390 11,390 Total Other Financing Sources (Uses) - (14,975) (3,585) 11,390 Net Change in Fund Balances (469,735) (469,735) 238,799 708,534 Fund Balances -October 1 469,735 469,735 1,241,781 772,046 Fund Balances -September 30 $ - $ - $ 1,480,580 $ 1,480,580 H-30 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT THREE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 2,859,775 $ 2,859,775 $ 3,147,918 $ 288,143 Investment Income - - 109,344 109,344 Total Revenues 2,859,775 2,859,775 3,257,262 397,487 EXPENDITURES: Current: Economic Environment: Advertising and Promotion 1,841,724 1,841,724 1,738,312 103,412 Administrative Services 158,072 144,477 21,981 122,496 Special Events 22,595 22,595 19,871 2,724 Bricks and Mortar 3,278,682 3,278,682 505,196 2,773,486 Information Services 168,000 168,000 168,000 - Total Expenditures 5,469,073 5,455,478 2,453,360 3,002,118 Excess/Deficiency of Revenues Over (Under) Expenditures (2,609,298) (2,595,703) 803,902 3,399,605 OTHER FINANCING SOURCES (USES): Transfers to Other Funds - (13,595) (13,595) - Transfers from Other Funds - - 28,846 28,846 Total Other Financing Sources (Uses) - (13,595) 15,251 28,846 Net Change in Fund Balances (2,609,298) (2,609,298) 819,153 3,428,451 Fund Balances -October 1 2,609,298 2,609,298 3,372,409 763,111 Fund Balances -September 30 $ - $ - $ 4,191,562 $ 4,191,562 H-31 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT FOUR SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 1,908,950 $ 1,908,950 $ 1,948,960 $ 40,010 Investment Income - - 61,752 61,752 Total Revenues 1,908,950 1,908,950 2,010,712 101,762 EXPENDITURES: Current: Economic Environment: Advertising and Promotion 1,094,437 1,094,437 1,024,235 70,202 Administrative Services 82,970 69,968 12,255 57,713 Special Events 55,880 55,880 25,880 30,000 Bricks and Mortar 1,374,877 1,374,877 718,363 656,514 Information Services 157,500 157,500 157,500 - Total Expenditures 2,765,664 2,752,662 1,938,233 814,429 Excess/Deficiency of Revenues Over (Under) Expenditures (856,714) (843,712) 72,479 916,191 OTHER FINANCING SOURCES (USES): Transfers to Other Funds - (13,002) (14,367) (1,365) Transfers from Other Funds - - 17,746 17,746 Total Other Financing Sources (Uses) - (13,002) 3,379 16,381 Net Change in Fund Balances (856,714) (856,714) 75,858 932,572 Fund Balances -October 1 856,714 856,714 1,948,943 1,092,229 Fund Balances -September 30 $ - $ - $ 2,024,801 $ 2,024,801 H-32 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT FIVE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 2,352,425 $ 2,352,425 $ 2,811,254 $ 458,829 Investment Income - - 83,818 83,818 Total Revenues 2,352,425 2,352,425 2,895,072 542,647 EXPENDITURES: Current: Economic Environment: Advertising and Promotion 1,707,132 1,729,233 1,596,958 132,275 Administrative Services 105,124 78,806 23,615 55,191 Information Services 149,100 149,100 149,100 - Special Events 44,286 44,286 4,286 40,000 Bricks and Mortar 1,498,476 1,476,375 467,508 1,008,867 Total Expenditures 3,504,118 3,477,800 2,241,467 1,236,333 Excess/Deficiency of Revenues Over (Under) Expenditures (1,151,693) (1,125,375) 653,605 1,778,980 OTHER FINANCING SOURCES (USES): Transfers to Other Funds - (26,318) (27,740) (1,422) Transfers from Other Funds - - 25,062 25,062 Total Other Financing Sources (Uses) - (26,318) (2,678) 23,640 Net Change in Fund Balances (1,151,693) (1,151,693) 650,927 1,802,620 Fund Balances -October 1 1,151,693 1,151,693 2,514,778 1,363,085 Fund Balances -September 30 $ - $ - $ 3,165,705 $ 3,165,705 H-33 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - ROADWAYS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 66,000 $ 66,000 $ 106,615 $ 40,615 Investment Income 50,525 50,525 42,835 (7,690) Total Revenues 116,525 116,525 149,450 32,925 EXPENDITURES: Current: Transportation: Roadway Projects 540,787 271,720 - 271,720 Truman Bridge Ped Bridge 929,520 905,819 - 905,819 Bike Lanes/Shared Use Path - 292,768 - 292,768 Key Colony Beach Road Project 33,820 33,820 - 33,820 Total Expenditures 1,504,127 1,504,127 - 1,504,127 Excess/Deficiency of Revenues Over (Under) Expenditures (1,387,602) (1,387,602) 149,450 1,537,052 Net Change in Fund Balances (1,387,602) (1,387,602) 149,450 1,537,052 Fund Balances -October 1 1,387,602 1,387,602 1,532,780 145,178 Fund Balances -September 30 $ - $ - $ 1,682,230 $ 1,682,230 H-34 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - PARKS AND RECREATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 41,200 $ 41,200 $ 47,600 $ 6,400 Investment Income 1,200 1,200 20,711 19,511 Total Revenues 42,400 42,400 68,311 25,911 EXPENDITURES: Current: Culture and Recreation: District 1 Projects 175,337 175,337 - 175,337 District 2 Projects 224,017 224,017 - 224,017 District 3 Projects 177,641 177,641 - 177,641 Bay Point Park 18,656 18,656 - 18,656 Big Coppitt Park 6,645 6,645 - 6,645 Total Expenditures 602,296 602,296 - 602,296 Excess/Deficiency of Revenues Over (Under) Expenditures (559,896) (559,896) 68,311 628,207 Net Change in Fund Balances (559,896) (559,896) 68,311 628,207 Fund Balances -October 1 559,896 559,896 696,393 136,497 Fund Balances -September 30 $ - $ - $ 764,704 $ 764,704 H-35 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - LIBRARIES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ - $ - $ 3,148 $ 3,148 Investment Income 2,700 2,700 34,322 31,622 Total Revenues 2,700 2,700 37,470 34,770 EXPENDITURES: Current: Culture and Recreation: County-wide Library Projects 1,127,383 1,127,383 - 1,127,383 Library Automation 25,000 25,000 - 25,000 Total Expenditures 1,152,383 1,152,383 - 1,152,383 Excess/Deficiency of Revenues Over (Under) Expenditures (1,149,683) (1,149,683) 37,470 1,187,153 Net Change in Fund Balances (1,149,683) (1,149,683) 37,470 1,187,153 Fund Balances -October 1 1,149,683 1,149,683 1,186,296 36,613 Fund Balances -September 30 $ - $ - $ 1,223,766 $ 1,223,766 H-36 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES -SOLID WASTE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 300 $ 300 $ 2,942 $ 2,642 Total Revenues 300 300 2,942 2,642 EXPENDITURES: Current: Physical Environment: County-wide Solid Waste Projects 101,165 101,165 - 101,165 Total Expenditures 101,165 101,165 - 101,165 Excess/Deficiency of Revenues Over (Under) Expenditures (100,865) (100,865) 2,942 103,807 Net Change in Fund Balances (100,865) (100,865) 2,942 103,807 Fund Balances -October 1 100,865 100,865 102,347 1,482 Fund Balances -September 30 $ - $ - $ 105,289 $ 105,289 H-37 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - POLICE FACILITIES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 300 $ 1,842 $ 508 $ (1,334) Total Revenues 300 1,842 508 (1,334) EXPENDITURES: Current: Public Safety: County-wide Police Facility 128,116 129,658 129,656 2 Total Expenditures 128,116 129,658 129,656 2 Excess/Deficiency of Revenues Over (Under) Expenditures (127,816) (127,816) (129,148) (1,332) Net Change in Fund Balances (127,816) (127,816) (129,148) (1,332) Fund Balances -October 1 127,816 127,816 129,148 1,332 Fund Balances -September 30 $ - $ - $ - $ - H-38 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - FIRE AND EMS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ - $ - $ 27,829 $ 27,829 Investment Income 230 230 3,696 3,466 Total Revenues 230 230 31,525 31,295 EXPENDITURES: Current: Public Safety: District 1 Fire & EMS Project 45,554 45,554 - 45,554 District 2 Fire & EMS Project 3,385 3,385 - 3,385 District 3 Fire & EMS Project 52,256 52,256 - 52,256 Key Colony Beach Fire & EMS 1,235 1,235 - 1,235 Total Expenditures 102,430 102,430 - 102,430 Excess/Deficiency of Revenues Over (Under) Expenditures (102,200) (102,200) 31,525 133,725 Net Change in Fund Balances (102,200) (102,200) 31,525 133,725 Fund Balances -October 1 102,200 102,200 111,788 9,588 Fund Balances -September 30 $ - $ - $ 143,313 $ 143,313 H-39 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - EMPLOYEE FAIR SHARE HOUSING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 150 $ 561 $ 176 $ (385) Total Revenues 150 561 176 (385) EXPENDITURES: Current: Economic Environment: Total Expenditures - - - - Excess/Deficiency of Revenues Over (Under) Expenditures 150 561 176 (385) OTHER FINANCING SOURCES (USES): Reserve for Contingencies (250) - - - Transfers to Other Funds (44,492) (45,153) (44,930) 223 Total Other Financing Sources (Uses) (44,742) (45,153) (44,930) 223 Net Change in Fund Balances (44,592) (44,592) (44,754) (162) Fund Balances -October 1 44,592 44,592 44,754 162 Fund Balances -September 30 $ - $ - $ - $ - H-40 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FIRE AND AMBULANCE, DISTRICT ONE - LOWER AND MIDDLE KEYS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 12,749,447 $ 12,749,447 $ 12,234,148 $ (515,299) Intergovernmental 38,000 38,000 148,833 110,833 Charges for Services 650,000 650,000 792,684 142,684 Investment Income 33,000 33,000 281,024 248,024 Miscellaneous - - 34,265 34,265 Total Revenues 13,470,447 13,470,447 13,490,954 20,507 EXPENDITURES: Current: Public Safety: Fire Rescue - Central 12,109,352 12,109,352 11,508,020 601,332 Total Public Safety 12,109,352 12,109,352 11,508,020 601,332 Excess/Deficiency of Revenues Over (Under) Expenditures 1,361,095 1,361,095 1,982,934 621,839 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (600,234) (274,276) - 274,276 Reserve for Cash Balance (1,132,387) (1,132,387) - 1,132,387 Transfers to Other Funds (1,478,468) (1,804,426) (1,747,912) 56,514 Transfers from Other Funds 180,000 180,000 186,417 6,417 Total Other Financing Sources (Uses) (3,031,089) (3,031,089) (1,561,495) 1,469,594 Net Change in Fund Balances (1,669,994) (1,669,994) 421,439 2,091,433 Fund Balances -October 1 1,669,994 1,669,994 4,325,401 2,655,407 Fund Balances -September 30 $ - $ - $ 4,746,840 $ 4,746,840 H-41 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL UNINCORPORATED AREA SERVICE DISTRICT- PARKS AND RECREATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 2,254,934 $ 2,254,936 $ 2,178,112 $ (76,824) Intergovernmental - - 6,927 6,927 Charges for Services 50,000 50,000 - (50,000) Investment Income 6,000 6,000 46,016 40,016 Miscellaneous 55,000 55,000 40,226 (14,774) Total Revenues 2,365,934 2,365,936 2,271,281 (94,655) EXPENDITURES: Current: Culture and Recreation: Parks and Beaches Unincorporated 2,041,169 2,219,555 2,119,495 100,060 Jacob's Aquatic Center 180,000 180,000 180,000 - School Board Interlocal 32,000 32,000 26,952 5,048 Total Expenditures 2,253,169 2,431,555 2,326,447 105,108 Excess/Deficiency of Revenues Over (Under) Expenditures 112,765 (65,619) (55,166) 10,453 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (78,384) - - - Transfers to Other Funds (235,732) (135,732) (63,993) 71,739 Transfers from Other Funds - - 28,376 28,376 Total Other Financing Sources (Uses) (439,686) (261,302) (35,617) 225,685 Net Change in Fund Balances (326,921) (326,921) (90,783) 236,138 Fund Balances -October 1 326,921 326,921 771,401 444,480 Fund Balances -September 30 $ - $ - $ 680,618 $ 680,618 H-42 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL UNINCORPORATED AREA SERVICE DISTRICT- PLANNING, BUILDING, AND ZONING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 630,000 $ 630,000 $ 527,555 $ (102,445) Intergovernmental 1,331,685 1,331,685 1,375,859 44,174 Charges for Services 2,730,000 2,730,000 3,421,043 691,043 Fines and Forfeitures 1,450,000 1,450,000 2,127,481 677,481 Investment Income 25,000 25,000 293,421 268,421 Miscellaneous - - 10,550 10,550 Total Revenues 6,166,685 6,166,685 7,755,909 1,589,224 Expenditures: Current: General Government: Affordable Housing 130,000 130,000 111,037 18,963 Planning Department 2,217,663 2,217,663 2,050,300 167,363 Planning Commission 88,409 88,409 76,016 12,393 Planning Legal 791,494 1,076,494 571,762 504,732 Planning Building Refunds 20,000 27,500 22,667 4,833 Total General Government 3,247,566 3,540,066 2,831,782 708,284 Public Safety: Code Enforcement 2,159,803 2,159,803 1,709,365 450,438 Fire and Rescue Coordinator 992,653 992,653 927,077 65,576 Fire Marshall 494,112 494,112 412,099 82,013 Total Public Safety 3,646,568 3,646,568 3,048,541 598,027 Physical Environment: Environmental Resources 983,691 983,691 931,383 52,308 Total Physical Environment 983,691 983,691 931,383 52,308 Total Expenditures 7,877,825 8,170,325 6,811,706 1,358,619 Excess/Deficiency of Revenues Over (Under) Expenditures (1,711,140) (2,003,640) 944,203 2,947,843 (Continued) H-43 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) UNINCORPORATED AREA SERVICE DISTRICT- PLANNING, BUILDING, AND ZONING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) OTHER FINANCING SOURCES (USES): Reserve for Contingencies (487,869) (191,324) - 191,324 Reserve for Cash Balance (1,290,212) (1,290,212) - 1,290,212 Transfers to Other Funds (1,586,979) (1,591,024) (1,431,101) 159,923 Transfers from Other Funds 10,000 10,000 4,938 (5,062) Total Other Financing Sources (Uses) (3,355,060) (3,062,560) (1,426,163) 1,636,397 Net Change in Fund Balances (5,066,200) (5,066,200) (481,960) 4,584,240 Fund Balances -October 1 5,066,200 5,066,200 9,080,273 4,014,073 Fund Balances -September 30 $ - $ - $ 8,598,313 $ 8,598,313 H-44 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL MUNICIPAL POLICING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 4,559,235 $ 4,559,235 $ 4,399,915 $ (159,320) Charges for Services 3,881,238 3,881,237 3,897,443 16,206 Investment Income 13,000 13,000 60,100 47,100 Total Revenues 8,453,473 8,453,472 8,357,458 (96,014) EXPENDITURES: Current: Public Safety: Insurance Unincorporated and Layton 614,255 614,255 481,549 132,706 Insurance Islamorada 253,192 253,192 200,232 52,960 Insurance Marathon 232,509 232,509 182,859 49,650 Total Expenditures 1,099,956 1,099,956 864,640 235,316 Excess/Deficiency of Revenues Over (Under) Expenditures 7,353,517 7,353,516 7,492,818 139,302 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (147,403) (126,931) - 126,931 Reserve for Cash Balance (900,000) (900,000) - 900,000 Transfers to Other Funds (7,692,031) (7,712,502) (7,795,157) (82,655) Transfers from Other Funds 355,000 355,000 - (355,000) Total Other Financing Sources (Uses) (8,384,434) (8,384,433) (7,795,157) 589,276 Net Change in Fund Balances (1,030,917) (1,030,917) (302,339) 728,578 Fund Balances -October 1 1,030,917 1,030,917 1,741,202 710,285 Fund Balances -September 30 $ - $ - $ 1,438,863 $ 1,438,863 H-45 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL DUCK KEY SECURITY DISTRICT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 105,530 $ 105,530 $ 102,040 $ (3,490) Investment Income 1,500 1,500 10,443 8,943 Total Revenues 107,030 107,030 112,483 5,453 EXPENDITURES: Current: Public Safety: Island Security 260,000 260,000 96,256 163,744 Total Expenditures 260,000 260,000 96,256 163,744 Excess/Deficiency of Revenues Over (Under) Expenditures (152,970) (152,970) 16,227 169,197 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (35,000) (35,000) - 35,000 Reserve for Cash Balance (70,000) (70,000) - 70,000 Transfers to Other Funds (2,250) (2,250) - 2,250 Total Other Financing Sources (Uses) (107,250) (107,250) - 107,250 Net Change in Fund Balances (260,220) (260,220) 16,227 276,447 Fund Balances -October 1 260,220 260,220 322,115 61,895 Fund Balances -September 30 $ - $ - $ 338,342 $ 338,342 H-46 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LOCAL HOUSING ASSISTANCE FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 475,000 $ 475,000 $ 350,000 $ (125,000) Investment Income 5,000 5,000 80,038 75,038 Miscellaneous 180,000 180,000 171,456 (8,544) Total Revenues 660,000 660,000 601,494 (58,506) EXPENDITURES: Current: Economic Environment: Homeowner Assistance 2,241,186 2,241,186 1,029,057 1,212,129 Fair Housing 15,000 15,000 - 15,000 Administration 38,129 38,129 33,905 4,224 Total Expenditures 2,294,315 2,294,315 1,062,962 1,231,353 Excess/Deficiency of Revenues Over (Under) Expenditures (1,634,315) (1,634,315) (461,468) 1,172,847 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (15,000) (15,000) - 15,000 Reserve for Cash Balance (15,000) (15,000) - 15,000 Total Other Financing Sources (Uses) (30,000) (30,000) - 30,000 Net Change in Fund Balances (1,664,315) (1,664,315) (461,468) 1,202,847 Fund Balances -October 1 1,664,315 1,664,315 2,843,043 1,178,728 Fund Balances -September 30 $ - $ - $ 2,381,575 $ 2,381,575 H-47 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BOATING IMPROVEMENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 740,000 $ 740,000 $ 760,923 $ 20,923 Investment Income 10,000 10,001 88,023 78,022 Miscellaneous - - 9,002 9,002 Total Revenues 750,000 750,001 857,948 107,947 EXPENDITURES: Current: Physical Environment: Boating Improvement 1,440,643 1,440,643 430,478 1,010,165 Boating Imp Fees/Retained Vessel 443,612 130,030 53,167 76,863 Total Expenditures 1,884,255 1,570,673 483,645 1,087,028 Excess/Deficiency of Revenues Over (Under) Expenditures (1,134,255) (820,672) 374,303 1,194,975 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (200,000) (95,473) - 95,473 Reserve for Cash Balance (350,000) (350,000) - 350,000 Transfers to Other Funds - (418,110) (418,110) - Total Other Financing Sources (Uses) (550,000) (863,583) (418,110) 445,473 Net Change in Fund Balances (1,684,255) (1,684,255) (43,807) 1,640,448 Fund Balances -October 1 1,684,255 1,684,255 3,131,635 1,447,380 Fund Balances -September 30 $ - $ - $ 3,087,828 $ 3,087,828 H-48 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL MISCELLANEOUS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ - $ 104,903 $ 104,903 $ - Charges for Services - 346,714 390,162 43,448 Fines and Forfeitures - 89,539 235,142 145,603 Investment Income - - 87,877 87,877 Miscellaneous - 1,958 98,006 96,048 Total Revenues - 543,114 916,090 372,976 EXPENDITURES: Current: General Government: Conservation Land Purchase 50,000 50,000 - 50,000 Legal Scholar Program - 3,917 3,917 - Total General Government 50,000 53,917 3,917 50,000 Public Safety: Education-Building Department 23,400 66,337 33,434 32,903 Environmental Resource Education 50,000 106,976 73,880 33,096 Fire and Rescue Bldg Education 5,000 9,990 3,928 6,062 Crime Prevention Program 50,000 50,000 - 50,000 Total Public Safety 128,400 233,303 111,242 122,061 Economic Environment: Climate Leadership Summit 60,000 60,000 1,275 58,725 Total Culture and Recreation 60,000 60,000 1,275 58,725 Human Services: FL Keys Council for the Handicapped 3,000 5,681 - 51681 Bayshore Donations 17557 17557 200 17357 Traffic Education, Ord 021-2002 507000 2027097 1027145 997952 Legal Aid - 287497 287497 - Total Human Services 547557 2377832 1307842 1067990 Culture and Recreation: Settler's Park Landscaping 27633 27633 - 27633 Library Special Programs 307000 637586 37142 607444 Library Donation-Golan Trust 2507000 2917537 - 2917537 Total Culture and Recreation 2827633 3577756 37142 3547614 (Continued) H-49 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) MISCELLANEOUS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Court Related: Ord 016-2004 St Court Sup 15,000 98,561 15,783 82,778 SA Ct Tech FS28.24(12)(E) 330,000 498,350 245,232 253,118 PD Ct Tech FS28.24(12)(E) 50,000 86,595 49,861 36,734 J Ct Tech FS28.24(12)(E) 46,310 512,126 106,202 405,924 Total Court Related 441,310 1,195,632 417,078 778,554 Total Expenditures 1,016,900 2,138,440 667,496 1,412,219 Excess/Deficiency of Revenues Over (Under) Expenditures (1,016,900) (1,595,326) 248,594 1,785,195 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (804,310) (170,848) - 170,848 Transfers to Other Funds (140,000) (196,994) (194,271) 2,723 Transfers from Other Funds - 1,958 1,958 - Total Other Financing Sources (Uses) (944,310) (365,884) (192,313) 173,571 Net Change in Fund Balances (1,961,210) (1,961,210) 56,281 2,017,491 Fund Balances -October 1 1,961,210 1,961,210 3,079,206 1,117,996 Fund Balances -September 30 $ - $ - $ 3,135,487 $ 3,135,487 H-50 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL ENVIRONMENTAL RESTORATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Fines and Forfeitures $ 560,000 $ 560,000 $ 1,256,739 $ 696,739 Investment Income 7,000 7,000 97,588 90,588 Miscellaneous Income - - 2,011 2,011 Total Revenues 567,000 567,000 1,356,338 789,338 EXPENDITURES: Current: Physical Environment: Environmental Restoration 472,627 442,627 259,904 182,723 Total Environmental Restoration 472,627 442,627 259,904 182,723 Culture and Recreation: Settler's Park 9,083 9,083 - 9,083 Total Culture and Recreation 9,083 9,083 - 9,083 Total Expenditures 481,710 451,710 259,904 191,806 Excess/Deficiency of Revenues Over (Under) Expenditures 85,290 115,290 1,096,434 981,144 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (59,900) (59,900) - 59,900 Reserve for Cash Balance (111,416) (111,416) - 111,416 Transfers to Other Funds - (30,000) (24,035) 5,965 Total Other Financing Sources (Uses) (171,316) (201,316) (24,035) 177,281 Net Change in Fund Balances (86,026) (86,026) 1,072,399 1,158,425 Fund Balances -October 1 86,026 86,026 2,739,043 2,653,017 Fund Balances -September 30 $ - $ - $ 3,811,442 $ 3,811,442 H-51 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL COURT FACILITY FEES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 490,000 $ 490,000 $ 476,702 $ (13,298) Investment Income 10,000 10,000 114,512 104,512 Total Revenues 500,000 500,000 591,214 91,214 EXPENDITURES: Current: Court Related: Court Facility 401,000 401,000 172,930 228,070 Total Expenditures 401,000 401,000 172,930 228,070 Excess/Deficiency of Revenues Over (Under) Expenditures 99,000 99,000 418,284 319,284 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (29,000) (29,000) - 29,000 Reserve for Cash Balance (45,000) (45,000) - 45,000 Total Other Financing Sources (Uses) (74,000) (74,000) - 74,000 Net Change in Fund Balances 25,000 25,000 418,284 393,284 Fund Balances -October 1 (25,000) (25,000) 3,824,862 3,849,862 Fund Balances -September 30 $ - $ - $ 4,243,146 $ 4,243,146 H-52 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL DRUG ABUSE TRUST SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 30,000 $ 30,000 $ 33,650 $ 3,650 Investment Income 500 500 1,925 1,425 Total Revenues 30,500 30,500 35,575 5,075 EXPENDITURES: Current: Human Services: Drug Abuse Trust Fund 70,000 70,000 31,832 38,168 Total Expenditures 70,000 70,000 31,832 38,168 Excess/Deficiency of Revenues Over (Under) Expenditures (39,500) (39,500) 3,743 43,243 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (9,000) (9,000) - 9,000 Reserve for Cash Balance (12,000) (12,000) - 12,000 Total Other Financing Sources (Uses) (21,000) (21,000) - 21,000 Net Change in Fund Balances (60,500) (60,500) 3,743 64,243 Fund Balances -October 1 60,500 60,500 58,551 (1,949) Fund Balances -September 30 $ - $ - $ 62,294 $ 62,294 H-53 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL MARATHON MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 74 $ 74 Total Revenues - - 74 74 EXPENDITURES: Current: Physical Environment: Marathon Wastewater 1,500 1,500 - 1,500 Total Expenditures 1,500 1,500 - 1,500 Excess/Deficiency of Revenues Over (Under) Expenditures (1,500) (1,500) 74 1,574 OTHER FINANCING SOURCES (USES): Transfers to Other Funds (300) (300) - 300 Reserve for Contingencies (191) (191) - 191 Total Other Financing Sources (Uses) (491) (491) - 491 Net Change in Fund Balances (1,991) (1,991) 74 2,065 Fund Balances -October 1 1,991 1,991 2,601 610 Fund Balances -September 30 $ - $ - $ 2,675 $ 2,675 H-54 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BAY POINT MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 1,300 $ 1,300 Total Revenues - - 1,300 1,300 EXPENDITURES: Current: Physical Environment: Bay Point Wastewater 29,470 29,470 69 29,401 Total Expenditures 29,470 29,470 69 29,401 Excess/Deficiency of Revenues Over (Under) Expenditures (29,470) (29,470) 1,231 30,701 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (1,900) (1,900) - 1,900 Reserve for Cash Balance (3,498) (3,498) - 3,498 Total Other Financing Sources (Uses) (5,398) (5,398) - 5,398 Net Change in Fund Balances (34,868) (34,868) 1,231 36,099 Fund Balances -October 1 34,868 34,868 46,208 11,340 Fund Balances -September 30 $ - $ - $ 47,439 $ 47,439 H-55 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BIG COPPITT MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 14 $ 14 Total Revenues - - 14 14 EXPENDITURES: Current: Physical Environment: Big Coppitt Wastewater 350 350 107 243 Total Expenditures 350 350 107 243 Excess/Deficiency of Revenues Over (Under) Expenditures (350) (350) (93) 257 OTHER FINANCING SOURCES (USES): Reserve for Cash Balance (50) (50) - 50 Reserve for Contingencies (50) (50) - 50 Total Other Financing Sources (Uses) (100) (100) - 100 Net Change in Fund Balances (450) (450) (93) 357 Fund Balances -October 1 450 450 612 162 Fund Balances -September 30 $ - $ - $ 519 $ 519 H-56 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL KEY LARGO MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ - $ - $ 1,002 $ 1,002 Investment Income - - 222 222 Total Revenues - - 1,224 1,224 EXPENDITURES: Current: Physical Environment: Key Largo Wastewater 4,490 4,490 30 4,460 Total Expenditures 4,490 4,490 30 4,460 Excess/Deficiency of Revenues Over (Under) Expenditures (4,490) (4,490) 1,194 5,684 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (500) (500) - 500 Reserve for Cash (1,100) (1,100) - 1,100 Transfers from Other Funds - - 13 13 Total Other Financing Sources (Uses) (1,600) (1,600) 13 1,613 Net Change in Fund Balances (6,090) (6,090) 1,207 7,297 Fund Balances -October 1 6,090 6,090 7,759 1,669 Fund Balances -September 30 $ - $ - $ 8,966 $ 8,966 H-57 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL STOCK ISLAND WASTEWATER MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUNC FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 42,000 $ 130,215 $ 58,557 $ (71,658) Investment Income 1,700 1,700 132,023 130,323 Miscellaneous Income - - 14,889 14,889 Total Revenues 43,700 131,915 205,469 73,554 EXPENDITURES: Current: Physical Environment: Stock Island Wastewater 85,000 758,698 276,936 481,762 Total Expenditures 85,000 758,698 276,936 481,762 Excess/Deficiency of Revenues Over (Under) Expenditures (41,300) (626,783) (71,467) 555,316 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (10,710) (30,000) - 30,000 Reserve for Cash Balance (20,000) (50,000) - 50,000 Transfers to Other Funds (1,500) (10,000) (2,000) 8,000 Transfers from Other Funds 425 425 886 461 Total Other Financing Sources (Uses) (31,785) (89,575) (1,114) 88,461 Net Change in Fund Balances (73,085) (716,358) (72,581) 643,777 Fund Balances -October 1 73,085 716,358 904,457 188,099 Fund Balances -September 30 $ - $ - $ 831,876 $ 831,876 H-58 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CONCH KEY MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 14 $ 14 Total Revenues - - 14 14 EXPENDITURES: Current: Physical Environment: Conch Key MSTU 400 400 - 400 Total Expenditures 400 400 - 400 Excess/Deficiency of Revenues Over (Under) Expenditures (400) (400) 14 414 Net Change in Fund Balances (400) (400) 14 414 Fund Balances -October 1 400 400 485 85 Fund Balances -September 30 $ - $ - $ 499 $ 499 H-59 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LONG KEY-LAYTON MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 7,455 $ 7,455 Total Revenues - - 7,455 7,455 EXPENDITURES: Current: Physical Environment: Long Key-Layton Wastewater 152,000 152,000 2,997 149,003 Total Expenditures 152,000 152,000 2,997 149,003 Excess/Deficiency of Revenues Over (Under) Expenditures (152,000) (152,000) 4,458 156,458 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (15,000) (15,000) - 15,000 Reserve for Cash Balance (35,449) (35,449) - 35,449 Total Other Financing Sources (Uses) (50,449) (50,449) - 50,449 Net Change in Fund Balances (202,449) (202,449) 4,458 206,907 Fund Balances -October 1 202,449 202,449 257,129 54,680 Fund Balances -September 30 $ - $ - $ 261,587 $ 261,587 H-60 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL DUCK KEY MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 1,627 $ 1,627 Total Revenues - - 1,627 1,627 EXPENDITURES: Current: Physical Environment: Duck Key Wastewater 35,000 35,000 10,651 24,349 Total Expenditures 35,000 35,000 10,651 24,349 Excess/Deficiency of Revenues Over (Under) Expenditures (35,000) (35,000) (9,024) 25,976 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (4,400) (4,400) - 4,400 Reserve for Cash Balance (8,800) (8,800) - 8,800 Total Other Financing Sources (Uses) (13,200) (13,200) - 13,200 Net Change in Fund Balances (48,200) (48,200) (9,024) 39,176 Fund Balances -October 1 48,200 48,200 58,763 10,563 Fund Balances -September 30 $ - $ - $ 49,739 $ 49,739 H-61 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BUILDING FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 5,022,000 $ 5,022,000 $ 5,471,975 $ 449,975 Charges for Services 120,000 120,000 121,645 1,645 Investment Income 15,000 15,000 81,797 66,797 Miscellaneous 30,000 30,000 36,698 6,698 Total Revenues 5,187,000 5,187,000 5,712,115 525,115 EXPENDITURES: Current: Public Safety Building Department 6,016,704 6,016,704 5,558,329 458,375 Building Department Legal 64,220 64,220 62,045 2,175 Building Refunds 30,000 65,000 59,894 5,106 Total Expenditures 6,110,924 6,145,924 5,680,268 465,656 Excess/Deficiency of Revenues Over (Under) Expenditures (923,924) (958,924) 31,847 990,771 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (118,429) (53,803) - 53,803 Reserve for Cash Balance (311,364) (311,364) - 311,364 Transfer From Other Funds - - 44,930 44,930 Transfer to Other Funds (509,033) (538,659) (538,659) - Total Other Financing Sources (Uses) (938,826) (903,826) (493,729) 410,097 Net Change in Fund Balances (1,862,750) (1,862,750) (461,882) 1,400,868 Fund Balances -October 1 1,862,750 1,862,750 2,622,307 759,557 Fund Balances -September 30 $ - $ - $ 2,160,425 $ 2,160,425 H-62 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CLERK'S REVENUE NOTE CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 3,293 $ 3,293 Total Revenues - - 3,293 3,293 EXPENDITURES: Capital Projects 100,000 100,000 - 100,000 Total Expenditures 100,000 100,000 - 100,000 Excess/Deficiency of Revenues Over (Under) Expenditures (100,000) (100,000) 3,293 103,293 Net Change in Fund Balances (100,000) (100,000) 3,293 103,293 Fund Balances -October 1 100,000 100,000 106,255 6,255 Fund Balances -September 30 $ - $ - $ 109,548 $ 109,548 H-63 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL INFRASTRUCTURE REVENUE BONDS SERIES 2007 CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 6,928 $ 6,928 Total Revenues - - 6,928 6,928 EXPENDITURES: Capital Projects 169,193 102,563 100,777 1,786 Total Expenditures 169,193 102,563 100,777 1,786 Excess/Deficiency of Revenues Over (Under) Expenditures (169,193) (102,563) (93,849) 8,714 OTHER FINANCING SOURCES (USES): Reserve for Cash - (40,000) - 40,000 Transfer to Other Funds (148,559) (175,189) - 175,189 Total Other Financing Sources (Uses) (148,559) (215,189) - 215,189 Net Change in Fund Balances (317,752) (317,752) (93,849) 223,903 Fund Balances -October 1 317,752 317,752 277,598 (40,154) Fund Balances -September 30 $ - $ - $ 183,749 $ 183,749 H-64 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL BIG COPPITT WASTEWATER CAPITAL PROJECT FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 330,000 $ 330,000 $ 243,645 $ (86,355) Investment Income 5,000 5,000 58,781 53,781 Miscellaneous Income - - 31,855 31,855 Total Revenues 335,000 335,000 334,281 (719) EXPENDITURES: Current: Capital Outlay: Physical Environment: Big Coppitt Refunds 5,000 5,000 - 5,000 Big Coppitt Special Assessment 25,000 1,150,018 20,993 1,129,025 Total Physical Environment 30,000 1,155,018 20,993 1,134,025 Excess/Deficiency of Revenues Over(Under) Expenditures 305,000 (820,018) 313,288 1,133,306 OTHER FINANCING SOURCES (USES): Transfers from Other Funds 350,000 1,475,018 264,390 (1,210,628) Transfers to Other Funds (682,000) (682,000) (682,000) - Total Other Financing Sources (Uses) (332,000) 793,018 (417,610) (1,210,628) Net Change in Fund Balances (27,000) (27,000) (104,322) (77,322) Fund Balances -October 1 27,000 27,000 166,608 139,608 Fund Balances -September 30 $ - $ - $ 62,286 $ 62,286 H-65 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL DUCK KEY WASTEWATER PROJECT CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 80,000 $ 80,000 $ 90,400 $ 10,400 Investment Income 3,500 3,500 19,976 16,476 Miscellaneous - - 6,754 6,754 Total Revenues 83,500 83,500 117,130 33,630 EXPENDITURES: Capital Projects 35,000 35,000 28,808 6,192 Total Expenditures 35,000 35,000 28,808 6,192 Excess/Deficiency of Revenues Over (Under) Expenditures 48,500 48,500 88,322 39,822 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (85,296) (85,296) - 85,296 Reserve for Cash Balance (42,029) (42,029) - 42,029 Transfer From Other Funds - - 598 598 Total Other Financing Sources (Uses) (127,325) (127,325) 598 127,923 Net Change in Fund Balances (78,825) (78,825) 88,920 167,745 Fund Balances -October 1 78,825 78,825 278,488 199,663 Fund Balances -September 30 $ - $ - $ 367,408 $ 367,408 H-66 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LONG KEY WASTEWATER PROJECT CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 8,909 $ 8,909 Total Revenues - - 8,909 8,909 EXPENDITURES: Capital Projects - 303,177 4,966 298,211 Total Expenditures - 303,177 4,966 298,211 Excess/Deficiency of Revenues Over (Under) Expenditures - (303,177) 3,943 307,120 OTHER FINANCING SOURCES (USES): Transfer To Other Funds (303,177) - - - Total Other Financing Sources (Uses) (303,177) - - - Net Change in Fund Balances (303,177) (303,177) 3,943 307,120 Fund Balances -October 1 303,177 303,177 734,062 430,885 Fund Balances -September 30 $ - $ - $ 738,005 $ 738,005 H-67 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LAND ACQUISITION FUND CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 61,253 $ 61,253 Investment Income - - 95,045 95,045 Total Revenues - - 156,298 156,298 EXPENDITURES: Capital Projects 3,717,782 4,384,909 2,732,089 1,652,820 Total Expenditures 3,717,782 4,384,909 2,732,089 1,652,820 Excess/Deficiency of Revenues Over (Under) Expenditures (3,717,782) (4,384,909) (2,575,791) 1,809,118 Net Change in Fund Balances (3,717,782) (4,384,909) (2,575,791) 1,809,118 Fund Balances -October 1 3,717,782 4,384,909 4,384,909 - Fund Balances -September 30 $ - $ - $ 1,809,118 $ 1,809,118 H-68 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S TEEN COURT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 50,000 $ 55,000 $ 50,214 $ (4,786) EXPENDITURES: Current: Public Safety 60,000 73,000 95,560 (22,560) Excess/(Deficiency) of Revenues Over/(Under) Expenditures (10,000) (18,000) (45,346) (27,346) Other Financing Sources/(Uses): Transfers from Constitutional Officers - - - - Transfers from Other Funds - - 28,497 28,497 Total Other Financing Sources/Uses - - 28,497 28,497 Net Change in Fund Balances (10,000) (18,000) (16,849) 1,151 Fund Balances -October 1 35,535 35,535 35,535 - Fund Balances -September 30 $ 25,535 $ 17,535 $ 18,686 $ 1,151 H-69 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S FEDERAL FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ - $ - $ 2,966,551 $ 2,966,551 Investment Income - - 100,055 100,055 Total Revenues - - 3,066,606 3,066,606 EXPENDITURES: Current: Public Safety: Law Enforcement 2,560,000 2,597,000 2,546,600 50,400 Total Expenditures 2,560,000 2,597,000 2,546,600 50,400 Excess/(Deficiency) of Revenues Over/(Under) Expenditures (2,560,000) (2,597,000) 520,006 3,117,006 Net Change in Fund Balances (2,560,000) (2,597,000) 520,006 3,117,006 Fund Balances -October 1 3,167,770 3,167,770 3,167,770 -- Fund Balances -September 30 $ 607,770 $ 570,770 $ 3,687,776 $ 3,117,006 H-70 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S STATE FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Fines and Forfeitures $ 29,000 $ 14,000 $ 13,726 $ (274) Investment Income 500 500 16,991 16,491 Total Revenues 29,500 14,500 30,717 16,217 EXPENDITURES: Current: Public Safety: Law Enforcement 8,500 12,000 24,457 (12,457) Total Expenditures 8,500 12,000 24,457 (12,457) Excess/(Deficiency) of Revenues Over/(Under) Expenditures 21,000 2,500 6,260 3,760 OTHER FINANCING SOURCES/(USES): Transfers To Other Funds (21,000) (2,500) - 2,500 Net Change in Fund Balances - - 6,260 3,760 Fund Balances -October 1 - - 603,623 603,623 Fund Balances -September 30 $ 21,000 $ 2,500 $ 609,883 $ 607,383 H-71 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S CONTRACT ADMINISTRATIVE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 400,000 $ 890,000 $ 837,875 $ (52,125) Charges for Services 3,650,000 3,600,000 3,621,982 21,982 Investment Income 5,000 10,000 16,851 6,851 Total Revenues 4,055,000 4,500,000 4,476,708 (23,292) EXPENDITURES: Current: Public Safety 3,873,000 4,564,000 4,531,121 32,879 Total Expenditures 3,873,000 4,564,000 4,531,121 32,879 Excess/(Deficiency) of Revenues Over/(Under) Expenditures 182,000 (64,000) (54,413) 9,587 OTHER FINANCING SOURCES/(USES): Transfers from Other Funds - - 2,187 2,187 Total other financing sources (uses) - - 2,187 2,187 Net Change in Fund Balances 182,000 (64,000) (52,226) 11,774 Fund Balances -October 1 1,292,124 1,292,124 1,292,124 - Fund Balances -September 30 $ 1,474,124 $ 1,228,124 $ 1,239,898 $ 11,774 H-72 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S COMMISSARY SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 475,000 $ 600,000 $ 573,558 $ (26,442) Investment Income 5,000 6,000 19,943 13,943 Miscellaneous 20,000 24,000 33,067 9,067 Total Revenues 500,000 630,000 626,568 (3,432) EXPENDITURES: Current: Public Safety 412,500 432,500 415,084 17,416 Excess/(Deficiency) of Revenues Over/(Under) Expenditures 87,500 197,500 211,484 13,984 Net Change in Fund Balances 87,500 197,500 211,484 13,984 Fund Balances -October 1 794,099 794,099 794,099 - Fund Balances -September 30 $ 881,599 $ 991,599 $ 1,005,583 $ 13,984 H-73 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S INTERAGENCY COMMUNICATIONS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 23,000 $ 35,000 $ 19,878 $ (15,122) Investment Income 5,000 5,000 8,745 3,745 Total Revenues 28,000 40,000 28,623 (11,377) EXPENDITURES: Current: Public Safety 165,000 175,000 314,347 (139,347) Total Expenditures 165,000 175,000 314,347 (139,347) Excess/(Deficiency) of Revenues Over/(Under) Expenditures (137,000) (135,000) (285,724) (150,724) OTHER FINANCING SOURCES/(USES): Transfers from Other Funds 120,000 140,000 291,523 151,523 Net Change in Fund Balances (17,000) 5,000 5,799 799 Fund Balances -October 1 392,572 392,572 392,572 - Fund Balances -September 30 $ 375,572 $ 397,572 $ 398,371 $ 799 H-74 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S TRAUMA STAR SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) EXPENDITURES: Current: Public Safety $ 4,488,692 $ 6,058,577 $ 5,970,966 $ 87,611 Excess/(Deficiency) of Revenues Over/(Under) Expenditures (4,488,692) (6,058,577) (5,970,966) 87,611 OTHER FINANCING SOURCES/(USES): Transfers from Other Funds 4,488,692 6,058,577 6,058,577 - Transfers to Other Funds - - (87,611) (87,611) Total Other Financing Sources/Uses 4,488,692 61058,577 5,970,966 (87,611) Net Change in Fund Balances - - - - Fund Balances -October 1 - - - - Fund Balances -September 30 $ - $ - $ - $ - H-75 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S RADIO COMMUNICATIONS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ - $ - $ 66,547 $ 66,547 EXPENDITURES: Current: Public Safety 636,767 802,767 794,991 7,776 Excess/(Deficiency) of Revenues Over/(Under) Expenditures (636,767) (802,767) (728,444) 74,323 OTHER FINANCING SOURCES/(USES): Transfers from Other Funds - - 736,220 736,220 Transfers to Other Funds - - (7,776) (7,776) Total Other Financing Sources/Uses - - 728,444 728,444 Net Change in Fund Balances - - - - Fund Balances -October 1 - - - - Fund Balances -September 30 $ - $ - $ - $ - H-76 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S SHARED ASSET FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 120,000 $ 450,000 $ 448,717 $ (1,283) Total Revenues 120,000 450,000 448,717 (1,283) EXPENDITURES: Current: Public Safety: Law Enforcement 750 200 110 90 Grants and Aid 195,000 151,000 150,626 374 Total Expenditures 195,750 151,200 150,736 464 Excess/Deficiency of Revenues Over (Under) Expenditures (75,750) 298,800 297,981 (1,747) Net Change in Fund Balances (75,750) 298,800 297,981 (819) Fund Balances -October 1 4,848,131 4,636,381 4,637,491 1,110 Fund Balances -September 30 $ 4,772,381 $ 4,935,181 $ 4,935,472 $ 291 H-77 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SHERIFF'S E911 SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 520,000 $ 485,000 $ 465,692 $ (19,308) Investment Income 20,000 20,000 35,464 15,464 Total Revenues 540,000 505,000 501,156 (3,844) EXPENDITURES: Current: Public Safety 674,000 793,000 772,508 20,492 Excess/Deficiency of Revenues Over (Under) Expenditures (134,000) (288,000) (271,352) (24,336) Excess/(Deficiency) of Revenues Over/(Under) Expenditures (134,000) (288,000) (271,352) 16,648 Net Change in Fund Balances (134,000) (288,000) (271,352) 16,648 Fund Balances -October 1 1,654,643 1,654,643 1,654,643 - Fund Balances -September 30 $ 1,520,643 $ 1,366,643 $ 1,383,291 $ 16,648 H-78 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CLERK'S RECORDS MODERNIZATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 285,000 $ 285,000 $ 297,872 $ 12,872 Investment Income 35,000 35,000 50,617 15,617 Total Revenues 320,000 320,000 348,489 28,489 EXPENDITURES: Current: Court Related: Modernization Trust 250,000 250,000 139,203 110,797 Excess/Deficiency of Revenues Over (Under) Expenditures 70,000 70,000 209,286 (82,308) Net Change in Fund Balances 70,000 70,000 209,286 139,286 Fund Balances -October 1 2,352,099 1,902,099 2,263,739 361,640 Fund Balances -September 30 $ 2,422,099 $ 1,972,099 $ 2,473,025 $ 500,926 H-79 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CLERK'S COURT RELATED SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 1,103,029 $ 1,103,029 $ 1,218,954 $ 115,925 Charges for Services 1,069,210 1,069,210 944,380 (124,830) Fines and Forfeitures 1,273,060 1,273,060 1,638,863 365,803 Investment Income 20,780 20,780 32,856 12,076 Miscellaneous 13 13 6,349 6,336 Total Revenues 3,466,092 3,466,092 3,841,402 375,310 EXPENDITURES: Current: Court Related: Clerk Administration 974,250 924,250 654,430 269,820 Clerk Records Management 155,850 155,850 147,069 8,781 Clerk Jury Management 170,600 170,600 142,073 28,527 Clerk Circuit Court Criminal 938,650 868,650 729,758 138,892 Clerk Circuit Court Civil 408,150 408,150 407,166 984 Clerk Court Information Systems 487,775 467,775 346,007 121,768 Clerk Circuit Court Family 95,505 135,505 117,916 17,589 Clerk Circuit Court Juvenile 141,280 141,280 127,365 13,915 Clerk Circuit Court Probate 91,400 111,400 99,401 11,999 Clerk County Court Criminal 556,020 556,020 505,968 50,052 Clerk County Court Civil 131,800 211,800 181,897 29,903 Clerk County Court Traffic 601,700 601,700 593,375 8,325 Total Expenditures 4,752,980 4,752,980 4,052,425 700,555 Excess/(Deficiency) of Revenues Over/(Under) Expenditures (1,286,888) (1,286,888) (211,023) 1,075,865 OTHER FINANCING SOURCES/(USES): Transfer from Other Funds 1,286,888 1,286,888 1,286,888 - Transfer to Other funds - - (1,075,865) (1,075,865) Total Other Financing Sources/(Uses) 1,286,888 1,286,888 211,023 (1,075,865) Net Change in Fund Balances - - - - Fund Balances -October 1 - - - - Fund Balances -September 30 $ - $ - $ - $ - H-80 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL ONE CENT INFRASTRUCTURE SURTAX CAPITAL PROJECT FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 22,000,000 $ 22,000,000 $ 23,583,643 $ 1,583,643 Investment Income 50,000 50,000 623,784 573,784 Miscellaneous - - 60,000 60,000 Total Revenues 22,050,000 22,050,000 24,267,427 2,217,427 EXPENDITURES: Current: Capital Outlay: General Government 2,094,717 5,434,901 4,448,000 986,901 Public Safety 793,305 840,969 1,440,810 (599,841) Physical Environment 355,000 591,000 163,441 427,559 Transportation: Const. Mgmt. 2,203,318 1,626,056 1,320,866 305,190 Economic Environment - 656,496 - 656,496 Culture and Recreation 2,936,000 4,131,644 69,978 4,061,666 Total Capital Outlay Expenditures 8,382,340 13,281,066 7,443,095 5,837,971 Excess/Deficiency of Revenues Over(Under) Expenditures 13,667,660 8,768,934 16,824,332 8,055,398 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (758,138) (276,199) - 276,199 Reserve for Cash Balance (1,058,814) (1,058,814) - 1,058,814 Transfers to Other Funds (10,996,767) (12,636,489) (7,413,066) 5,223,423 Total Other Financing Sources (Uses) (12,665,160) (13,822,942) (7,413,066) 6,409,876 Net Change in Fund Balances 1,002,500 (5,054,008) 9,411,266 14,465,274 Fund Balances -October 1 (1,002,500) 5,054,008 21,032,085 15,978,077 Fund Balances -September 30 $ - $ - $ 30,443,351 $ 30,443,351 H-81 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL INFRASTRUCTURE REVENUE BONDS SERIES 2014 CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 512,837 $ 512,837 Total Revenues - - 512,837 512,837 EXPENDITURES: Capital Projects-General Government - 1,388,089 - 1,388,089 Capital Projects-Culture and Recreation 4,125,000 4,125,000 969,037 3,155,963 Capital Projects- Buildings 7,296,535 13,593,928 5,619,406 7,974,522 Total Expenditures 11,421,535 19,107,017 6,588,443 12,518,574 Excess/Deficiency of Revenues Over(Under) Expenditures (11,421,535) (19,107,017) (6,075,606) 13,031,411 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (2,000,000) (2,000,000) - 2,000,000 Total Other Financing Sources (Uses) (2,000,000) (2,000,000) - 2,000,000 Net Change in Fund Balances (13,421,535) (21,107,017) (6,075,606) 15,031,411 Fund Balances -October 1 13,421,535 21,107,017 26,862,489 5,755,472 Fund Balances -September 30 $ - $ - $20,786,883 $ 20,786,883 H-82 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL CUDJOE REGIONAL WASTEWATER CAPITAL PROJECT FUND FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 2,343,905 $ 2,343,905 $ 1,906,403 $ (437,502) Investment Income - - 1,088,167 1,088,167 Miscellaneous - - 131,971 131,971 Total Revenues 2,343,905 2,343,905 3,126,541 782,636 EXPENDITURES: Current: Capital Outlay: Physical Environment: Cudjoe Regional Wastewater Project Loan Funding 1,531,863 4,242,997 4,242,285 712 Special Assessment Refunds 25,000 25,000 - 25,000 Special Assessments 194,979 3,196,636 1,455,060 1,741,576 Total Physical Environment 1,751,842 7,464,633 5,697,345 1,767,288 Total Capital Outlay Expenditures 1,751,842 7,464,633 5,697,345 1,767,288 Excess/Deficiency of Revenues Over(Under) Expenditures 592,063 (5,120,728) (2,570,804) 2,549,924 OTHER FINANCING SOURCES (USES): Reserve for Contingencies (100,000) - - - Issuance of Debt - - 5,380,370 5,380,370 Transfers from Other Funds - - 2,659 2,659 Transfers to Other Funds (4,410,935) (18,593,776) (4,666,579) 13,927,197 Total Other Financing Sources (Uses) (4,510,935) (18,593,776) 716,450 19,310,226 Net Change in Fund Balances (3,918,872) (23,714,504) (1,854,354) 21,860,150 Fund Balances -October 1 3,918,872 23,714,504 17,201,328 (6,513,176) Fund Balances -September 30 $ - $ - $ 15,346,974 $ 15,346,974 H-83 This page is intentionally left blank. MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL ALL DEBT SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 5,100 $ 5,100 $ 115,495 $ 110,395 Total Revenues 5,100 5,100 115,495 110,395 EXPENDITURES: Current: Debt Service: Clean Water SRF Loan Principal 4,888,369 3,368,299 3,368,298 1 Interest 204,566 1,980,280 1,980,219 61 Total Clean Water SRF Loan 5,092,935 5,348,579 5,348,517 62 2014 Revenue Bonds Principal 3,725,000 3,725,000 3,725,000 - Interest 559,202 559,202 559,202 - Total 2014 Revenue Bonds 4,284,202 4,284,202 4,284,202 - Mayfield Loan Principal 2,125,000 2,125,000 2,125,000 - Total Mayfield Loan 2,125,000 2,125,000 2,125,000 - 2016 Revenue Bonds Principal 850,000 850,000 850,000 - Interest 268,754 268,754 268,104 650 Total 2016 Revenue Bonds 1,118,754 1,118,754 1,118,104 650 (Continued) H-84 MONROE COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL ALL DEBT SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2019 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) 2018 PNC Line of Credit Principal - 23,459,759 4,774,778 18,684,981 Interest - 979,881 971,327 8,554 Other Debt Service Costs - 49,230 49,230 - Total 2018 PNC Line of Credit - 24,488,870 5,795,335 18,693,535 Total Expenditures 12,620,891 37,365,405 18,671,158 18,694,247 Excess/Deficiency of Revenues Over(Under) Expenditures (12,615,791) (37,360,305) (18,555,663) 18,804,642 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 11,620,891 36,365,405 17,178,630 (19,186,775) Total Other Financing Sources (Uses) 9,620,891 34,365,405 17,178,630 (17,186,775) Net Change in Fund Balances (2,994,900) (2,994,900) (1,377,033) 1,617,867 Fund Balances -October 1 2,994,900 2,994,900 2,289,578 (705,322) Fund Balances -September 30 $ - $ - $ 912,545 $ 912,545 H-85 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF NET POSITION INTERNAL SERVICE FUNDS SEPTEMBER 30,2019 Worker's Group Risk Compensation Insurance Management Fund Fund Fund ASSETS Current Assets: Cash and Cash Equivalents $ 1,509,193 $ 1,057,744 $ 9,098,242 Investments 2,636,410 14,176,558 1,659,155 Accounts Receivable, Net 511 22,631 124 Due from Other Funds 21,522 64,710 - Due from Other Governmental Units 182 119,450 18,920 Interest Receivable 6,278 33,355 22,501 Total Current Assets 4,174,096 15,474,448 10,798,942 Noncurrent Assets: Land and Other Nondepreciable Assets - - - Capital Assets, Net of Accum. Depreciation - 27,917 22,446 Total Noncurrent Assets - 27,917 22,446 Total Assets 4,174,096 15,502,365 10,821,388 DEFERRED OUTFLOWS OF RESOURCES Related to Pensions 44,433 88,364 115,098 Related to OPEB - 7,930 2,922 Total Deferred Outflows of Resources 44,433 96,294 118,020 LIABILITIES Accounts Payable 12,342 850,709 184,186 Accrued Wages and Benefits Payable 5,940 2,785 11,980 Claims and Judgments Payable 1,333,516 1,121,259 646,670 Due to Other Funds - 3,795 8,722,772 Due to Other Governmental Units 15,186 9 - Accrued Comp.Absences Payable 3,882 6,613 19,958 Total Current Liabilities 1,370,866 1,985,170 9,585,566 Noncurrent Liabilities: Accrued Comp.Absences Payable 15,527 26,454 30,587 OPEB Liability 2,000 61,000 54,000 Net Pension Liability 191,378 256,329 227,694 Total Noncurrent Liabilities 208,905 343,783 312,281 Total Liabilities 1,579,771 2,328,953 9,897,847 DEFERRED INFLOWS OF RESOURCES Related to Pensions 11,338 22,620 28,326 Related to OPEB 235 3,901 3,262 Total Deferred Inflows of Resources 11,573 26,521 31,588 NET POSITION Investment in Capital Assets - 27,917 22,446 Unrestricted 2,627,185 13,215,268 987,527 Total Net Position $ 2,627,185 $ 13,243,185 $ 1,009,973 H-86 Fleet Management Fund Total $ 132,108 $ 11,797,287 2,139,152 20,611,275 - 23,266 - 86,232 18,891 157,443 5,191 67,325 2,295,342 32,742,828 54,000 54,000 671,807 722,170 725,807 776,170 3,021,149 33,518,998 445,852 693,747 54,428 65,280 500,280 759,027 43,796 1,091,033 53,184 73,889 - 3,101,445 - 8,726,567 - 15,195 24,962 55,415 121,942 13,063,544 99,849 172,417 499,000 616,000 1,033,127 1,708,528 1,631,976 2,496,945 1,753,918 15,560,489 112,452 174,736 30,962 38,360 143,414 213,096 725,807 776,170 898,290 17,728,270 $ 1,624,097 $ 18,504,440 H-87 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENSES,AND CHANGES IN NET POSITION INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2019 Worker's Worker's Group Risk Compensation Insurance Management Fund Fund Fund Operating Revenues: Charges for Services $ 2,351,034 $ 17,749,493 $ 4,065,531 Miscellaneous 257,425 121,452 4,382 Total Operating Revenues 2,608,459 17,870,945 4,069,913 Operating Expenses: Personnel Services 179,523 365,187 381,649 Operations 472,361 2,053,779 3,338,075 Depreciation and Amortization - 5,000 1,543 Asserted and Paid Claims 1,587,278 16,071,855 (2,748,478) Total Operating Expenses 2,239,162 18,495,821 972,789 Operating Income(Loss) 369,297 (624,876) 3,097,124 Non-Operating Revenues(Expenses): Investment Income 85,840 497,155 250,897 Insurance Recoveries 23,938 347,045 3,796,398 Total Non-Operating Revenues(Expenses) 109,778 844,200 4,047,295 Income(Loss) Before Transfers 479,075 219,324 7,144,419 Transfers to Other Funds (69,064) (127,936) (8,856,492) Change in Net Position 410,011 91,388 (1,712,073) Total Net Position -October 1 2,217,174 13,151,797 2,722,046 Total Net Position -September 30 $ 2,627,185 $ 13,243,185 $ 1,009,973 H-88 Fleet Management Fund Total $ 3,008,301 $ 27,174,359 108 383,367 3,008,409 27,557,726 1,588,161 2,514,520 1,152,045 7,016,260 56,873 63,416 - 14,910,655 2,797,079 24,504,851 211,330 3,052,875 102,396 936,288 - 4,167,381 102,396 5,103,669 313,726 8,156,544 (719,439) (9,772,931) (405,713) (1,616,387) 2,029,810 20,120,827 $ 1,624,097 $ 18,504,440 H-89 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2019 Worker's Worker's Group Risk Compensation Insurance Management Fund Fund Fund Operating Activities: Cash Received for Services $ 2,350,523 $ 17,733,315 $ 4,109,966 Cash Received from Insurance Recoveries 23,938 347,045 3,796,398 Cash Payments to Suppliers for Goods and Services (471,015) (3,621,991) (3,246,537) Cash Payments for Employee Services (158,457) (345,785) (318,179) Cash Payments for Claims (1,518,584) (16,115,487) (381,060) Cash Received from (Paid to) Other Sources 12,703 88,227 8,703,852 Other Operating Revenue 260,904 118,629 (5,826) Net Cash Provided by(Used in) Operating Activities 500,012 (1,796,047) 12,658,614 Noncapital Financing Activities: Transfers to Other Funds (69,064) (127,936) (8,856,492) Net Cash Provided by(Used in) Noncapital Financing Activities (69,064) (127,936) (8,856,492) Capital and Related Financing Activities: Acquisition of Capital Assets - -Net Cash Provided by(Used in) Capital and Related Financing Activities - - - Investing Activities: Investment Income 85,840 497,155 250,897 Proceeds from Sales and Maturities of Investments 5,737,264 26,314,841 11,098,984 Purchase of Investment Securities (5,446,681) (27,044,200) (7,132,225) Net Cash Provided by(Used in) Investing Activities 376,423 (232,204) 4,217,656 Net Increase(Decrease) in Cash and Cash Equivalents 807,371 (2,156,187) 8,019,778 Cash and Cash Equivalents: October 1 701,822 3,213,931 1,078,464 September 30 $ 1,509,193 $ 1,057,744 $ 9,098,242 H-90 Fleet Management Fund Total $ 3,008,301 $ 27,202,105 - 4,167,381 (1,146,551) (8,486,094) (1,487,827) (2,310,248) - (18,015,131) 1,361 8,806,143 925 374,632 376,209 11,738,788 (719,439) (9,772,931) (719,439) (9,772,931) (5,574) (5,574) (5,574) (5,574) 102,396 936,288 4,177,675 47,328,764 (4,183,167) (43,806,273) 96,904 4,458,779 (251,900) 6,419,062 384,008 5,378,225 $ 132,108 $ 11,797,287 (Continued) H-91 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CASH FLOWS(CONTINUED) INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30,2019 Worker's Group Risk Compensation Insurance Management Fund Fund Fund Reconciliation of Operating Income(Loss) to Net Cash Provided by(Used in) Operating Activities: Operating Income(Loss) $ 369,297 $ (624,876) $ 3,097,124 Adjustments to Reconcile Operating Income(Loss) to Net Cash Provided by(Used in)Operating Activities: Depreciation and Amortization - 5,000 1,543 Nonoperating Income- Insurance Recoveries 23,938 347,045 3,796,398 Change in Assets, Liabilities, and Deferrals: (Increase) Decrease in Accounts Receivable (511) (16,178) 44,435 (Increase) Decrease in Due from Other Gov't Units (21) 52,703 (18,920) (Increase) Decrease in Due from Other Funds (2,462) 33,099 - (Increase) Decrease in Interest Receivable 3,479 (2,823) (10,208) Increase(Decrease)in Accounts Payable 1,346 (1,568,212) 91,538 Increase(Decrease)in Accrued Wages/Benefits 741 (33,875) (835) Increase(Decrease) in Claims/Judgments Payable 68,694 (43,632) (3,129,538) Increase(Decrease) in Due to Other Funds - 3,795 8,722,772 Increase(Decrease) in Due to Other Gov't Units 15,186 (1,370) - Increase(Decrease) in Comp. Absences Payable 2,153 (2,945) 12,311 Increase(Decrease) in OPEB Liability (2,000) 6,000 8,000 Increase(Decrease) in Pension Liability 7,682 15,251 20,322 Increase(Decrease) in Deferred Outflows 13,919 47,296 30,150 Increase(Decrease) in Deferred Inflows (1,429) (12,325) (6,478) Total Adjustments 130,715 (1,171,171) 9,561,490 Net Cash Provided by(Used in) Operating Activities $ 500,012 $ (1,796,047) $ 12,658,614 Cash Reconciliation: Unrestricted $ 1,509,193 $ 1,057,744 $ 9,098,242 H-92 Fleet Management Fund Total $ 211,330 $ 3,052,875 56,873 63,416 - 4,167,381 - 27,746 2,236 35,998 - 30,637 817 (8,735) 5,494 (1,469,834) 4,074 (29,895) - (3,104,476) - 8,726,567 (875) 12,941 15,962 27,481 61,000 73,000 77,625 120,880 (29,116) 62,249 (29,211) (49,443) 164,879 8,685,913 $ 376,209 $ 11,738,788 $ 132,108 $ 11,797,287 H-93 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF FIDUCIARY NET POSITION ALL AGENCY FUNDS SEPTEMBER 30, 2019 Clerk's Sheriff's Tag General General and Property Agency Agency License Tax Totals ASSETS Cash and Cash Equivalents $ 5,447,024 $ 750,694 $ 213,933 $ 2,013,010 $ 8,424,661 Accounts Receivable 23,124 5,639 13,397 - 42,160 Total Assets $ 5,470,148 $ 756,333 $ 227,330 $ 2,013,010 $ 8,466,821 LIABILITIES Due to Others $ 4,240,655 $ 756,333 $ 2,211 $ 57,684 $ 5,056,883 Due to Other Governmental Units 1,229,493 - 225,119 1,955,326 3,409,938 Total Liabilities $ 5,470,148 $ 756,333 $ 227,330 $ 2,013,010 $ 8,466,821 H-94 This page is intentionally left blank. MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION ALL AGENCY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2019 10/1/2018 Additions Deductions 9/30/2019 Clerk's General Assets Cash and Cash Equivalents $ 6,402,187 $ 39,412,946 $ 40,368,109 $ 5,447,024 Accounts Receivable 95,166 167,071 239,113 23,124 Total Assets $ 6,497,353 $ 39,580,017 $ 40,607,222 $ 5,470,148 Liabilities Due to Others $ 4,331,115 $ 1,743,449 $ 1,833,909 $ 4,240,655 Due to Other Governmental Units 2,166,238 37,836,568 38,773,313 1,229,493 Total Liabilities $ 6,497,353 $ 39,580,017 $ 40,607,222 $ 5,470,148 Sheriff's General Assets Cash and Cash Equivalents $ 792,000 $ 1,807,327 $ 1,848,633 $ 750,694 Accounts Receivable 6,933 1,196,792 1,198,086 5,639 Total Assets $ 798,933 $ 3,004,119 $ 3,046,719 $ 756,333 Liabilities Due to Others $ 798,933 $ 2,509,417 $ 2,552,017 $ 756,333 Total Liabilities $ 798,933 $ 2,509,417 $ 2,552,017 $ 756,333 Tag and License Assets Cash and Cash Equivalents $ 250,599 $ 15,744,613 $ 15,781,279 $ 213,933 Accounts Receivable 10,138 3,259 - 13,397 Total Assets $ 260,737 $ 15,747,872 $ 15,781,279 $ 227,330 Liabilities Undistributed Collections $ 258,345 $ 15,664,202 $ 15,697,428 $ 225,119 Due to Others 2,392 83,670 83,851 2,211 Total Liabilities $ 260,737 $ 15,747,872 $ 15,781,279 $ 227,330 Property Tax Assets Cash and Cash Equivalents $ 1,587,933 $ 335,163,128 $ 334,738,051 $ 2,013,010 Accounts Receivable 1,813 - 1,813 - Total Assets $ 1,589,746 $ 335,163,128 $ 334,739,864 $ 2,013,010 Liabilities Due to Others $ 99,527 $ 8,262,960 $ 8,304,803 $ 57,684 Undistributed Collections 1,490,219 326,900,168 326,435,061 1,955,326 Total Liabilities $ 1,589,746 $ 335,163,128 $ 334,739,864 $ 2,013,010 (Continued) H-95 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION (CONTINUED) ALL AGENCY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2019 10/1/2018 Additions Deductions 9/30/2019 Total All Agency Funds Assets Cash and Cash Equivalents $ 9,032,719 $ 392,128,014 $ 392,736,072 $ 8,424,661 Accounts Receivable 114,050 1,367,122 1,439,012 42,160 Total Assets $ 9,146,769 $ 393,495,136 $ 394,175,084 $ 8,466,821 Liabilities Due to Others $ 5,231,967 $ 12,599,496 $ 12,774,580 $ 5,056,883 Due to Other Governmental Units 3,914,802 380,400,938 380,905,802 3,409,938 Total Liabilities $ 9,146,769 $ 393,000,434 $ 393,680,382 $ 8,466,821 H-96 This page is intentionally left blank. STATISTICAL SECTION (Unaudited) This part of Monroe County, Florida Government's comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the County's overall financial health. Statistical schedules differ from financial statements because they usually cover more than one fiscal year and may present non- accounting data. These schedules are designed to give the reader insights into the financial position of Monroe County not readily apparent from the financial statements. CONTENTS Financial Trends These schedules contain trend information to help the reader understand how the government's financial performance and well-being have changed over time. Revenue Capacity These schedules contain information to help the reader assess the government's most significant local revenue source, the property tax. Debt Capacity These schedules present information to help the reader assess the affordability of the government's current levels of outstanding debt and the government's ability to issue additional debt in the future. Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader understand the environment within which the government's financial activities take place. Operating Information These schedules contain service and infrastructure data to help the reader understand how the information in the government's financial report relates to the services the government provides and the activities it performs. Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual financial reports for the relevant year. 1-1 M (O(O M 00 0)O r (n (O o 'N N O W N W (11 0) a) N� (r0 O 7 rl-O N W ar0 0) r 0) G N 0)O N 00 (n M rl 7 (O 0) N ( 7O O O �� M � N r- (f) 7 M N (n 7 N (O 6s v 63 O N Lr)0) M N 7 0 (O N (O o 6) 0r) W O Iz M ((O(NO 7 M 7 �2 00 N N(O 6) Woc)M N O O 0) I� 00 I� r N N r (r0 O I�O O N OM W r M N 7 7 N (n 63 63 706) N N N� 0) N W (O O (O 7 I� 00 N W I� 7 N 0) N M N O I� O O 00 0) 7 (N 00 M (O 00 W (O (O 7 1- N (N 7 M W O� 7 N 00 7 0) N G N M 0) 0) 0) O N � 7 M I- N CM,) W t` 0r) oo W 6)N M N N N 0M) M N 7 7 N (n 63 63 M N 7 O (O N o2 M 00 N 0) o O 0) O N 0) N N O,- 7 (11 N 7 0) I� N r M I� (N 0) M M 0)(O 00 O N N i0 7 N (O N 7(n N I� 0) I� 0) O (11 00 00 0) I� O W N O O M r r 00 O N 00 N � �N W 00 O O M W M N 7 7 N (n 63 63 N 6)6) N M M 6) (n (n N 0 I� M N 7 7 (N(O (O I� 00 00 I� N (O 0) N rl M O N 0) 00 M (O (O(n U) 00 00 7 N (O W 00 N M 00 0) M O N O N 00 (N 7 0) N (O o2 O 7 N (O O 0) (O M N 00 00 I� 7 N 7 M (n R } b3 b3 R 0)(n (n 00 O 0) I� 0) 0) 7 N U No N 00 Il 0) 0) N N N 00 y N rl M N (11 M rl 00 00 I� M LL N (O I� 0) I� 00 I� N N 7 7 N 6) 7 N (O 6)O N 7 M 6) M (O O O W 0) 0) N 00 0) 0) N N M Or W O N O (N) M N � M 7 M (n Im C = C ` = EA EA O O-y o ONI� N r �6) r r (O (O o) LL o U 7 N(N N N M O I� r (N M N N 00 (co:) 00 00 Il 7 0 o (N N (O N O = N O O W N 7 N M N a N 0 t9 7 (O 7 0 (O N (O (O W O 0 7 M 00 7 7 0 00 7 00 M (O U p C N N N (N 7 Mm 00 N O M (o N W R = O y R O LL J � O U 60) co O N O W O (NO N 00) Z :a (co)-O W N N 00 M 00 (N (O N W 7 O M N 0N) co N o) O W 7 I�7 I� (11 0)7 N (O I� 00 M N ((O M N Na) W 0 O 7 7 (N (N N � 7 � � M � N 63 63 o)N N N 6) 7 M co O (O (O N M N W N 00 N 7 N I� O o2 O N 00(O W M I� 00 00 (N O I� O M r (N (N I� 00 0) r r M M 0)O M N (O I� (O N (NO N(M M rl- W N O 7 M ((O 7 N 7 M (N 63 63 N O N I� 0) N N N (O o) o)N N (O W (O W O O 00 6) N(O 00 M O O (O 00 O M O N O M N O O co m 7 N 7 O O N 0 0 7 0 7(O 0 0 7 N N (N N co N r 61 r O N co N N (N 7 M (N b3 b3 C o O O o p O N d N N o O N Z N Z w d Q ) Q Q N R >o R > R C +U Q U Q U C .� C R �U C d 'C > Q C Q C ~ C C O 0 E N N N 0 -O ❑. -O N 0) -0 > 0) i N > U N C N R N (D t° m z w t° a z w t° 1-2 M M N 7 N M mo N� 6)N rl- 00 I� N N M (o M (n 00 O N 00 I�7 M I� 00 I� N N 7 M O O 0)I-00 00 00 (O O t` 00 00 00 O (N M O N 0) (o M 0) Q N(o I�00 Q (n I�Q (0 00 N 7 N 6)O O (0 00 0) 00 I� 7 O N 7 M�O M 0(O Z I-Z n 6) N N Z M M � N M 63 63 (o tOM wO 2o2 N I� 0 7 7 M ( 0)(n� M 0) `O N W W W M M M (O N N N r n n N N W 0 7 M M M co I` (O I`00 N 00 O(N I� M (o(o I- N (O M(n N(o Nr rl- rl- 00 NO (07(o M O N 0 0 M rl � M N N M W 7 N N ' I� 00N 0)Z 7Z 7 7 ONM o O N M 63 63 O 7N 0070)N(o 0) I� (NN �I�N I` It 7 N r 00 l:00 M (N N 6)(0 0 7 0) 0) N O M 00 I� �_N N (O N 0) 6)00 00 Il M N N 7 7 M (n (0 7 N (n M(o M O I- O I�7 N 6)6)N M N M N(o N O M (n 0) N 0 0 N 7 M 0(O t` 7 7 0 M M O N M N(n 0 0 M O(0 0)Z y Z N N N M W N N 63 63 0) 00 N a)M a)700 00 O O� (n(nO 7 7 (00)N(o�(O a)O O (n O6) 0) ItN (n O O O 00 I�7 7 7 N 0) N (0 7 00 00 7 N 00 I- M 00 M(n I--00 0) (n (0 00 N 0)M (o i0 (n N 0)0)N 7 I-(N (n (0 7 N 00(n rl- 6) (n N �N(O7N700a Ma M �N N 0000 0) M N (N N 6n 6 I��I`( )( )Z MZ (n N o0� O� 00 N M O M N M (n � N N 63 63 7 6)Mro( oN 6) N NO O Lf) (O � �7 0 (O W (D(O C N N (O 7 7 W q cc� 't 00 O(o 7 N 6) O O N O U) Mr(o lr v lr 0) 0)(n N (n ON N (n 0) (0 O�77Q o (0 7(n 0)7Q M 6) 7 �70) a! 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Keys Electric Co-Op 125,030,195 2 0.44% 93,486,332 1 0.42% Passco Ocean DST 88,858,008 3 0.39% Pebblebook Hotel Trust 87,205,974 4 0.33% Galleon Condominium Assoc Inc 84,714,896 5 0.32% 45,852,135 6 0.21% Casa Marina LLC 80,494,809 6 0.30% Windward Ponte II LLC 77,213,898 7 0.29% 67,913,147 2 0.30% Key Largo Hospitality 69,010,177 8 0.26% SH5 LTD 66,281,757 9 0.25% 32,026,702 8 0.14% KHP IV Key West LLC 62,243,997 10 0.23% BellSouth/Southern Bell 57,715,137 3 0.26% City of Key West 48,695,901 5 0.22% Bluegreen Resorts Management 30,262,943 10 0.14% Hyatt Vacation Management Co 52,211,530 4 0.23% Chheca Lodge 30,959,338 9 0.14% JLW Key West 1 LLC 34,193,050 7 0.15% $ 883,319,959 3.28% $ 493,316,215 2.34% Source: Monroe County Property Appraiser 1-13 1-13 m J w d O o 0 0 0 0 0 0 0 0 0 ++ o 0 0 0 0 0 0 0 0 0 O O O (O Cl) .- O O O Q = O O O O O O O O O O N d C i O W :,r a m 0 (� O (O O � � Cl) (O 00 (O O N fl- (O (O O 00 N Cl) fl- O R ++ O N (O Cl) fl- fl- O V' N Cl) ++ = V' V' M M — O In V' — — N O O Cl) - LO � � N V' V' � E N O L N V (fl r oo N f— Q 00 f� f� f� f� fl- fl- fl- 00 00 K3 L N V' U V' 00 Cl) 00 .— O Q = co � N (O N N fl- O 00 y 00 (O .— 00 O N Cl) Z l (O M O N C ++ C C C) 7 C) O N p i fn ff3 O U y C T LL y = d 0O O O (O Cl) O O O O R ++ ++ J R r-� (O In (6 (6 (6 r-� (O rn rn rn rn rn rn rn rn rn rn R d aL m O co r— .— f� O N Cl) (O O O C) ++ 00 00 w Cl)cq LO (O co coOD O O U ,y = � O (O N � � N f� f� Cl) LL V' �— �— V' N o0 V' O 00 .— O O O V M (O N M V' (C E .— 00 In N IT (O fl- 00 N fl- Qoo fl- fl- fl- fl- fl- fl- fl- 00 00 K3 O N (O In N V N Cl) O V �— L (O O O U') U') O Cl) IT O N O O O 0o 0o (O (O Cl) Cl) In N � O CO Cl) � coo LO 0) - N cvi O) U M In In O (O M o0 O N xm N J y oc0 00 � � � � co co co O T LL K3 � O U o m L M O L y O .— N Cl) V' LO (O fl- co O R = E O O O O O O O O O O y W d+ N N N N N N N N N N U Q LL d 0 O co 1-14 a 00 r- z z z z z z z z U C 2 E o o Q Q Q Q Q Q Q Q 0 0 N Lq z z z z z z z z d o - a+ (O (O O) LO N 'IT (O 'IT LO co d LO M 00 LO N N N N (O R M � (D O V N M (D O N L E. co LO (O CO (O O) LO CO d p m LO v v m co (o ao 0 0 0 N N ER O O O O O r- r- r- r- r- y U J ( O LO Gl ER O Y > N Y I I I I I I I I Q 7 y co r- CL H O > 0 LO O O R >� > (.0 }0 C .a i Z = V- y ca O Gl d N ER N E d v O LL 0 O O O C V O 7 Gl O O O O L() O N C O C LL C "O 'IT O (O O U r c > 0LO o O L y Gl d m 00 (O + N O 7 r Q C o y Ef3 p O J y Q m I I I I I I I I N O 'It LO Q O = O_ R � U J 0 O O O U O O O O O .N y O N O O O O U O C (O O O O Ln r }' M R (O O O LO N N .v O O LO O O N -0 E V J a =7 ( L L (I 0) O Q co C O � U C O LO N O) (O O I- O O LO co (A "O CD CD E 7 Lr N a 0 0 V OO N CD N N (O 00 ca C C O LO co LO co O LO 0') r— M (� L d a.+ (O (O LO OO LO OO co (O 0') y L > > O 0') ch 'IT 'IT 'IT 'IT O r— v O a O Z =7 CF v rn N rn ch C m U v LO rn LO LO o U E m a) N O O N I- CO LO O O ,�.., 0 co O O O N CO 11' O O y (O LO LO 11, O N O O O O C "O Lf) O (h r- co O CF M O LO N > O co O co 0') CO 'ITM (o co N O O Lr O V^ Lr OO I� Lr O M Q! m N co N N N �h LO �h M M y U (>0 _ CD Q � � O V R 0 Z O 0 O O O O O O O O O O O Il } N N N N N N N N N NCf) Q Z z 1-15 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 2010-2019. 1-16 Monroe County, Florida Direct and Overlapping Governmental Activities Debt September 30, 2019 Estimated Amount Debt Percentage Applicable to Direct Debt Outstanding Applicable County Monroe County, Florida $ 202,123,603 100% $ 202,123,603 Monroe County does not have any overlapping debt as of September 30, 2019. Notes: Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the county. This schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by the residents and businesses of Monroe County, Florida. This process recognizes that, when considering the County's ability to issue and repay long-term debt, the entire burden borne by the residents and businesses should be taken into account. However, this does not imply that every taxpayer is a resident and, therefore, responsible for repaying the debt of each overlapping government. (a) Net bonded debt was calculated as revenue bonds payable and revenue notes payable. See Legal Debt Margin Information schedule for net bonded debt calculation. (b)Allocation based on assessed valuation. 1-17 Monroe County, Florida Legal Debt Margin Information Last Ten Fiscal Years There are no State laws or County ordinances establishing a legal debt margin for years 2010-2019 1-18 Monroe County, Florida Pledged-Revenue Coverage Governmental Activities Last Ten Fiscal Years Sales Tax Revenue Bonds Fiscal Debt Service Year Collections Principal Interest Total Coverage 2010 $ 14,085,030 $ 3,997,500 $ 1,588,708 $ 5,586,208 2.52 2011 15,374,998 4,145,000 1,440,676 5,585,676 2.75 2012 16,318,450 4,300,000 1,284,405 5,584,405 2.92 2013 17,172,360 4,465,000 1,120,502 5,585,502 3.07 2014 17,106,367 4,990,338 1,190,415 6,180,753 2.77 2015 20,161,451 3,580,000 1,230,981 4,810,981 4.19 2016 20,817,676 4,689,999 1,205,286 5,895,285 3.53 2017 21,510,929 6,950,000 1,203,144 8,153,144 2.64 2018 25,690,144 8,723,442 1,278,587 10,002,029 2.57 2019 21,405,942 7,203,777 1,005,482 8,209,259 2.61 Note: Details regarding the County's outstanding debt can be found in the notes to the financial statements. 1-19 e 7 £ m \ 0 / § k § 0 2 § > » \ � 0 n 7 e § $ \ m e cl) « = S \ \ Ww =@2 e n w � > w&a 5 %\ CD � ® G \ * 2 y \ \\ / % [ \\\ ) 7 f \ \ > .§ o w ) u T- I \ e o ( b w 2 \ \ 7 \ w w U m m w m % Ea m z e § = e e m § \ y \ \ \ / \ $ E / m $ -0 ° E I z \\\ � / \ .� \ z �� ■ W � I 2 \ 9 222 � � e � � = e � ° (A W C +- U / m \ = u � E -iw \_@ e n � � mrA§ L \ $ L \ § \\/ \ $ \ 4 > L wz � w / E E % C.) w � � e \ � / \ \ o > ) f e 0 5 ® o $ z 3me 0 # /\ f 0 ■ - \\c / � \m w n .S \ ( ww= e \ ( \ % 2 x E x U) ± a w e \ g 0m \ > o ± w _ n± a \»\ \ .ga) m.§ e e JUJ \\\ 2 \ / \ \ M \ / § ƒ \\ \ O / \ e m = § . w a t \ \ 2 ~ E $ % 8 a � g 2Q22J2 » % f » \ \ \ ± \ / � w RRRRRRRRRR I ( / / \ o \ j e > e = e = U ± S m - .g / e e \ \ \ \ \ E % / / \ @ \ k L \ k y m s e y m m t I2O m o Q O f-- m � CO N Lo M OD CO .4 M M M M M N N d O M_ .I.d O O d I N O M N M M I- M M LN coo coN f— m v O oD oD oD oD oD oD oD oD oD oD W N m Lo f- co f- f- M Q y Q Z r� C L L U � O d Lo M M M M M M M U- 0 N M O O N O � OD u M M Q .ram+ O U O Q O E CO w CO f-- m � O M N Z 7 W y a m i o 0 U- Lo Lo Lo Lo c0 � c0 co or) U U a m d E O U O a ; N O CL m -a N c0 O O IT O m c0 U L J O OD — O N M OD M 'T O CD Ch N V G Ln Ln OD Ln G � �--• O N CO CO CO E O L CL m M N 'T M M 0') N 0 o E x a " Ln Ln Ln d cn 0 Z a 0 E v� o U_ E O O O m W Q O 70 O O M m CO N I- M I- U O F, 0) � O m M OD f-- — N Q (B 0 m O co co M 'T O O O O U O M M � CO � � m � Lo Z O i U) N O O m � (B (B d U M -, N to LLJ D O in cu cu 4- cnci- o U ry Q ocuU o 70 Z M L O N M 'T M CO f-- OD 0) c N C6 O L II U cC O N O O O O O O O O O O O 75 N N N N N N N N N N (B m LL Q 0 Z 1-21 O y I� r- N O N CO z LO O O O O O Cf' N O co LO (O O O m 7 E M N O O r O 0') O) c U O o v a w 0 o Y N O R N co co (O LO r— Cf' O) N d d � co N LO LO O CDQ CO CD CD O N co 0') O O LO Cf' LO LO M LO LO ci' z (O co co E N W a) O Q 0 O r C m N R m p E o ( o D 0 0 0 0 0 0 .O L a 0 I�Q) O N ( co Cl)M co � Cl) O 0') Q 0 _ �} V � co (D V N N N 0') z O LL O d V R Q LO M N O p LU > d E W a E Z d c = LU a3 O R s U Q R CDY 2 L C) R N N co �t LO (O r— co 0') N L O O V) C 'i } a) Oar O NU- LO O O 00 I- N O Q V O � � O LO LO LO Cf' Cf' co Z a) N W c a) a3 � a) M U 'Fu N Q m E O U U (0 O Z c U in o O `m o m c E (n m n O E 06 U .o 0 N U chi cn (D cn V) a Q O U a) L >1 N O (n m N c U (n c c N L m T T u U m U U a�i m m �° a) E of CO y Y U Y O 0)0O c X_ O O 0 m U Y a) U E cn o o o Z_ m o N m o Q W D 2 O 0- 2! 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P $ ® F e E S � ° 7 0 G / e 2 :» \ 12 © 5 � m 2 0 o > § n > U) e E \ g = _ c = e o m e n m o o e n n 2 / / e m m m 2 e e m = < e 5 E e 3 0 § g \ o % 2 \\ 6 m e a n m \ E G \ ƒ t m u3 / G / \ \ ) / \ E % 7 .E5E \ f % \ § % £ 3t § 0 = \ m 3 < -C� / m 2 I m < e \ < < \ I E E O S 0 O m U- I I e I O O 1-5 COMPLIANCE SECTION 1101011 Cherry rt" t ,-'o, Report of Independent Auditor on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards To the Honorable Mayor and Board of County Commissioners of Monroe County, Florida: We have audited, in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities, the business- type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of Monroe County, Florida (the "County") as of and for the year ended September 30, 2019, and the related notes to the financial statements, which collectively comprise the County's basic financial statements, and have issued our report thereon dated March 20, 2020 for the purpose of compliance with Section 281.39(2), Florida Statutes, and Chapter 10.550, Rules of the Auditor General-Local Government Entity Audits. Internal Control over Financial Reporting In planning and performing our audit of the financial statements, we considered the County's internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the County's internal control. Accordingly, we do not express an opinion on the effectiveness of the County's internal control. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the County's financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. Compliance and Other Matters As part of obtaining reasonable assurance about whether the County's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. J-1 Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the County's internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the County's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. Orlando, Florida March 20, 2020 J-2 Cherry rt"' Report of Independent Auditor on Compliance for Each Major Federal Awards Program and State Financial Assistance Projects and on Internal Control Over Compliance Required by the Uniform Guidance and Chapter 10.550, Rules of the Auditor General To the Honorable Mayor and Board of County Commissioners of Monroe County, Florida: Report on Compliance for Each Major Federal Program and State Financial Assistance Projects We have audited the compliance of Monroe County, Florida (the "County") with the types of compliance requirements described in the U.S. Office of Management and Budget (OMB) Compliance Supplement and the requirements described in the State of Florida Department of Financial Services' State Projects Compliance Supplement, that could have a direct and material effect on each of the County's major federal programs and state financial assistance projects for the year ended September 30, 2019. The County's major federal programs and state financial assistance projects are identified in the summary of auditor's results section of the accompanying schedule of findings and questioned costs. Management's Responsibility Management is responsible for compliance with the requirements of laws, regulations, contracts, and grants applicable to its federal awards programs and state financial assistance projects. Auditor's Responsibility Our responsibility is to express an opinion on compliance for each of the County's major federal awards programs and state financial assistance projects based on our audit of the types of compliance requirements referred to above. We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and Chapter 10.550, Rules of the Auditor General. Those standards, the Uniform Guidance, and Chapter 10.550, Rules of the Auditor General, require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major federal award program or state financial assistance projects occurred. An audit includes examining, on a test basis, evidence about the County's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion on compliance for each major federal awards programs and state financial assistance projects. However, our audit does not provide a legal determination of the County's compliance. Opinion on Each Major Federal Program and State Financial Assistance Projects In our opinion, the County complied, in all material respects, with the types of compliance requirements referred to above that could have a direct and material effect on each of its major federal programs and state financial assistance projects for the year ended September 30, 2019. J-3 Report on Internal Control over Compliance Management of the County is responsible for establishing and maintaining effective internal control over compliance with the types of compliance requirements referred to above. In planning and performing our audit, we considered the County's internal control over compliance with the types of requirements that could have a direct and material effect on its major federal awards programs and state financial assistance projects to determine the auditing procedures that are appropriate in the circumstances for the purpose of expressing our opinion on compliance for each major federal award program and each state financial assistance project and to test and report on internal control over compliance in accordance with the Uniform Guidance and Chapter 10.550, Rules of the Auditor General, but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the effectiveness of the County's internal control over compliance. A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a federal awards program or state financial assistance project on a timely basis. A material weakness in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program or state financial assistance project will not be prevented, or detected and corrected, on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal award program or state financial assistance project that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance. Our consideration of internal control over compliance was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies. We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. Purpose of Report The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of the Uniform Guidance and Chapter 10.550, Rules of the Auditor General. Accordingly, this report is not suitable for any other purpose. Orlando, Florida March 20, 2020 J-4 Monroe County,Florida Schedule of Expenditures of Federal Awards and State Financial Assistance Projects For The Year Ended September 30,2019 Federal Federal/State Agency, (Direct& Passed Pass-through Entity CFDA Pass-Through) Through to Federal Program/State Projects Number Contract/Grant Number Expenditures Subrecipients Department of Health and Human Services: Aging Cluster: Passed through Florida Department of ElderAffairs and Alliance for the Aging: Title IIIB Grants for Supportive Services&Senior Centers-2018 93.044 AA-1829 $ 39,383 $ Title IIIB Grants for Supportive Services&Senior Centers-2019 93.044 AA-1929 80,053 Total Program 119,436 Title IIIC1 Nutrition Services(Congregate Meals)2018 93.045 AA-1829 29,894 Title IIIC1 Nutrition Services(Congregate Meals)2019 93.045 AA-1929 105,815 Title IIIC2 Nutrition Services(Home Delivered Meals)2018 93.045 AA-1829 50,954 Title IIIC2 Nutrition Services(Home Delivered Meals)2019 93.045 AA-1929 75,517 Total Program 262,180 Nutrition Services Incentive Program-2018 93.053 US-1851 8,154 Nutrition Services Incentive Program-2019 93.053 US-1951 16,696 Total Program 24,850 Total Aging Cluster 406,466 Title IIIE Caregiver Support Services-2018 93.052 AA-1829 68,916 Title IIIE Caregiver Support Services-2019 93.052 AA-1929 97,691 Total Program 166,607 Passed through Florida Department of Revenue,Agency for Children and Families,and Office of Child Support Enforcement: Child Support Enforcement Title IV-D 93.563 COC44 79,169 Passed through Florida Department of Economic Opportunity: Low Income Home Energy Assistance Program-2018 93.568 17EA-OF-11-54-01-019 156,806 Low Income Home Energy Assistance Program/WAP-2017 93.568 17WX-OG-11-54-01-039 54,809 Total Program 211,615 Center for Disease Control and Prevention: Passed through Florida Department of Health,Beureau of Emergency Medical Oversight: Overdose Prevention in States(OPIS) 93.354 43,846 Total Federal Agency 907,703 Department of Justice: Equitable Sharing Agreement 16.922 7,000 Direct Program: Bureau of Justice Assistance: Bulletproof Vest Program 16.607 2018BUBX18092588 20,430 Bulletproof Vest Program 16.607 2019BUBX19097085 22,209 Edward Byrne Memorial Justice Assistance Grant Program: Drug Court Medical Director Initiative 16.738 2017-DJ-BX-0796 8,800 Total Program 51,439 Passed through Office of the Attorney General: Victims of Crime Acts 16.575 VO-00139 340,497 - Passed through Florida Department of Law Enforcement: Edward Byrne Memorial Residential Substance Abuse Treatment: Men's Jail Housed Drug Abuse Treatment Program 16.593 2018-RSAT-MONR-1-U4-004 19,634 19,634 Edward Byrne Memorial Justice Assistance Grant-Women's Jail Incarceration Drug Abuse Program 16.738 2019-JAGC-MONR-2-N2-110 38,505 38,505 Edward Byrne Memorial Residential Substance Abuse Treatment: Assited Living Prevents Recidivism 16.378 2019-JAGC-MONR-1-N2-089 28,587 28,587 Total Program 86,726 86,726 Total Federal Agency 485,662 86,726 The accompanying notes are an integral part of this schedule. (Continued) J-5 Monroe County,Florida Schedule of Expenditures of Federal Awards and State Financial Assistance Projects For The Year Ended September 30,2019 Federal Federal/State Agency, (Direct& Passed Pass-through Entity CFDA Pass-Through) Through to Federal Program/State Projects Number Contract/Grant Number Expenditures Subrecipients Executive Office of the President: Direct Program: High Intensity Drug Trafficking Areas 95.001 G17MI0001A 2,618,970 High Intensity Drug Trafficking Areas 95.001 G18MI0001A 6,741,617 High Intensity Drug Trafficking Areas 95.001 G19MI0001A 1,318,879 High Intensity Drug Trafficking Areas 95.001 G19AC0005A 1,016,633 High Intensity Drug Trafficking Areas 95.001 G18AC0005A 2,421,413 High Intensity Drug Trafficking Areas 95.001 G17AC0005A 581,925 High Intensity Drug Trafficking Areas 95.001 G17AC0004A 30,858 High Intensity Drug Trafficking Areas 95.001 G16AC0005A 59,096 High Intensity Drug Trafficking Areas 95.001 G16PR0001A 19,329 High Intensity Drug Trafficking Areas 95.001 G17PR0001A 1,363,378 High Intensity Drug Trafficking Areas 95.001 G18PR0001A 2,993,060 High Intensity Drug Trafficking Areas 95.001 G19PR0001A 1,739,805 Total Federal Agency 20,904,963 Department of Transportation: Direct Program: Federal Aviation Administration-Airport Improvement Program Key West AIP-3751 20.106 3-12-0037-051-2015 72,385 Key West AIP-3753 20.106 3-12-0037-053-2016 678,425 Key West AIP-3754 20.106 3-12-0037-054-2017 47,083 Key West AIP-3755 20.106 3-12-0037-055-2017 4,320 Key West AIP-3756 20.106 3-12-0037-056-2018 1,067,672 Key West AIP-3757 20.106 3-12-0037-057-2018 3,854,693 Marathon AIP-4435 20.106 3-12-0044-035-2016 292,974 Total Program 6,017,552 Federal Highway Administration: Highway Planning and Construction Cluster Passed through Florida Department of Transportation: Transportation Planning Program 2012 20.205 25222811407/GOW86 166,786 Scenic Highway Overlooks 20.205 428064-1/AR386 487,309 Lower Keys Scenic Viewing Area 20.205 435511-1/GON68 82 FL Keys Overseas Heritage Trail Connection 20.205 441745-1-38-01/G1558 69,954 The Pigeon Key Ramp Repair Design Project 20.205 436566-1/GOW60 1,649,058 Total Highway Planning and Construction Cluster 2,373,189 Federal Transit Administration: Passed through Florida Department of Transportation: Enhanced Mobility of Seniors and Individuals with Disabilities 20.513 1001-2017-15 231,969 National Highway Traffic Safety Administration: Speed&Aggressive Driving Grant 20.600 G1123 40,077 Total Federal Agency 8,662,787 Department of Homeland Security: Passed through Florida Executive Office of the Governor: Emergency Management Performance Grant FY18-19 97.042 19-FG-AF-11-54-01-121 49,260 Emergency Management Performance Grant FY19-20 97.042 00060 14,012 - Disaster Grants-Public Assistance-Hurricane Irma 97.036 4337/Z0002 26,382,875 792,143 Total Program 26,446,147 792,143 Passed through the City of Miami: Homeland Security Grant Program-2017 97.067 18-DS-XS-23-02-376 90,856 - Total Federal Agency 26,537,003 792,143 Department of Commerce: Economic Development Administration Disaster Recovery Coordinator 11.307 04-79-07268 128,062 - Post Disaster Recovery Strategy 11.307 04-69-07349 39,865 167,927 National Oceanic and Atmospheric Administration Coastal Zone Mgmt Admin Awards-Harry Harris Park 11.419 NA18NOS419/CM919 15,000 Total Federal Agency 182,927 The accompanying notes are an integral part of this schedule. (Continued) J-6 Monroe County,Florida Schedule of Expenditures of Federal Awards and State Financial Assistance Projects For The Year Ended September 30,2019 Federal Federal/State Agency, (Direct& Passed Pass-through Entity CFDA Pass-Through) Through to Federal Program/State Projects Number Contract/Grant Number Expenditures Subrecipients Department of Energy: Passed through Florida Department of Economic Opportunity: Weatherization Assistance Program-2017 81.042 17WX-OG-11-54-01-039 13,702 Passed through Florida Department of Agriculture&Consumer Svs: State Energy Program Monroe County Public Library Lighting 87.041 DE-EE000241/LG014 70,200 Total Federal Agency 83,902 Environmental Protection Agency: FL Keys Waterwatch 66.436 X7-OOD83018 2,050 MC Canal Management Master Plan 66.436 X7-OOD83418 46,897 Water Quality Monitoring 66.454 C6-00476018 50,042 Total Federal Agency 98,989 United States Treasury Department: Equitable Sharing Agreement 21.000 2,539,600 Total Federal Agency 2,539,600 Department of the Interior: US Fish and Wildlife Services: Passed through Florida Fish and Wildlife Services: Sport Fishing Restoration-Boat Access Gulf View Boat Ramp Repair and Dock Installation 15.605 FL F-F1 7AF01 194/16060 75,000 MC Harry Harris Boat Ramp Refurbish 15.605 FL F-F17AF00931/16059 25,185 100,185 Passed through Department of Environmental Protection: Clean Vessel Act Grant Program FY18(CVA18-830) 15.616 MV279 CVA18-830 135,000 Total Federal Agency 235,185 - Department of Agriculture:Natural Resources Conservation Service Emergency Watershed Protection Program Hurricane Irme-Debris Removal 10.923 NR184209XXXXCO27 13,646,941 5,381,249 Total Federal Agency 13,646,941 5,381,249 Total Expenditures of Federal Awards $ 74,285,662 $ 6,260,118 The accompanying notes are an integral part of this schedule. (Continued) J-7 Monroe County,Florida Schedule of Expenditures of Federal Awards and State Financial Assistance Projects For The Year Ended September 30,2019 Federal/State Agency, Pass-through Entity CSFA State Federal Program/State Projects Number Contract/Grant Number Expenditures Florida Executive Office of the Governor: Emergency Management Programs FY18-FY19 31.063 19-BG-21-11-54-01-028 $ 77,860 Emergency Management Programs FY19-FY20 31.063 A0037 22,427 Total Department 100,287 Florida Department of Children and Families: Community Care for Disabled Adults-FY18-FY21 60.008 KG073 43,630 Total Department 43,630 Florida Department of Elder Affairs: Passed through The Alliance for Aging: Alzheimer's Disease Initiative-2018 65.004 KZ1897 142,219 Alzheimer's Disease Initiative-2019 65.004 KZ1997 37,478 Total Department 179,697 Florida Department of Environmental Protection: Small County Consolidated Grant 37.012 SC924 90,909 Statewide Surface Water Restoration and Wastewater Projects: MC Canal 75 Backfill&Canal 48,59,79,80 Augm Aeration 37.039 LP44073 117,486 Monroe County Marine Debris Removal 37.039 LP44074 4,085,910 FL Keys Reasonable Assurance Plan Water Quality Monitoring 37.039 00476018/MN008 20,440 Total Program 4,223,836 Florida Keys National Marine Sanctuary Support: MC Marine Debris Removal-Plugged Canals 37.088 SD005 100,000 Florida Resilient Coastal Program 37.098 R1915 6,000 Monroe County Mobile Vessel Pumpout Service NA MV282 208,238 Monroe County Mobile Vessel Pumpout Service NA MV353 187,500 Total Program 395,738 Clean Water State Revolving Fund Loan 37.077 WW440710 5,434,652 Total Department 10,251,135 Florida Department of Health: EMS County Award 64.005 C7044 32,163 Total Department 32,163 Florida Department of Juvenile Justice: Intensive Delinquency Diversion Service 80.022 X1718 132,682 Total Department 132,682 Florida Department of State: State Aid to Libraries-2018 45.030 18-ST-35 67,921 State Aid to Libraries-2019 45.030 19-ST-35 21,038 Total Program 88,959 Historic Preservation Grants MC Cultural Resource Assessment II 45.031 19.h.sm.200.040 48,000 Total Department 136,959 Florida Department of Transportation: Pigeon Key Ferry Service 55.023 41454515802/ARX57 131,050 Total Program 131,050 The accompanying notes are an integral part of this schedule. (Continued) J-8 Monroe County,Florida Schedule of Expenditures of Federal Awards and State Financial Assistance Projects For The Year Ended September 30,2019 Federal/State Agency, Pass-through Entity CSFA State Federal Program/State Projects Number Contract/Grant Number Expenditures Aviation Development Grants: Key West Airport 55.004 43791919401/G0553 10,668 Key West Airport 55.004 43928519401/GOE77 265,301 Key West Airport 55.004 43866619401/GOE47 18,362 Key West Airport 55.004 43867019401/GOE46 5,614 Key West Airport 55.004 44138419401/GOR03 29,116 Key West Airport 55.004 43867129401/GOE40 240 Key West Airport 55.004 44138319401/GOR04 47,153 Key West Airport 55.004 44241919401/G1007 56,924 Key West Airport 55.004 43867719401/GOE45 32,077 Key West Airport 55.004 43113389401/G0562 4,021 Key West Airport 55.004 43870519401/G0157 11,814 Key West Airport 55.004 44241819401/G1008 46,294 Key West&Marathon Airport 55.004 43113379401/2&AQH10 302,357 Marathon Airport 55.004 43864719401/00088 100,585 Marathon Airport 55.004 43868019401/GOE44 7,990 Marathon Airport 55.004 43868319401/GOE41 18,052 Marathon Airport 55.004 43866419401/GOE76 104,618 Marathon Airport Planning Studies 55.004 43928619401/G0122 139,650 Marathon Airport 55.004 44136319401/GOQ40 26,789 Marathon Airport 55.004 44242219401/G1009 6,465 Marathon Airport 55.004 44388819401/GOZ28 130,976 FL Keys Marathon Airport Land Acquisition 55.004 43959119401/00078 2,760 Total Program 1,367,826 Small County Outreach Program and Rural Areas of Opportunity: Stock Island 11 Roadyway&Drainage Improvements 55.009 442001-1/GOX77 1,049,184 Key Largo 11 Roadway&Drainage Improvements 55.009 441888-1/GOU09 1,223,511 Total Program 2,272,695 Total Department 3,771,571 Florida Fish&Wildlife Conservation Commission: Passed through Department of Environmental Protection Monroe County Initial 2018-2019 NA 13101-FK144 70,000 Monroe County Maintenance 2018-2019 NA 13101-FK157 80,000 Total Department 150,000 Florida Housing Finance Corporation: State Housing Initiative Partnership Program 2017-2018 40.901 SHIP 16-19 FY17 FUNDS 221,217 State Housing Initiative Partnership Program 2018-2019 40.901 SHIP 16-19 FY18 FUNDS 560,706 State Housing Initiative Partnership Program 2019-2020 40.901 SHIP 16-19 FY19 FUNDS 281,039 Total Department 1,062,962 Total Expenditures of State Financial Assistance $ 15,861,086 The accompanying notes are an integral part of this schedule. (Continued) J-9 Monroe County,Florida Notes to Schedule of Expenditures of Federal Awards and State Financial Assistance Projects For the Year Ended September 30,2019 Note 1—Basis of Presentation The Schedule of Federal Awards and State Financial Assistance Projects (the"Schedule")presents a summary of the activity of all the Federal and State grant programs of Monroe County, Florida (the "County") for the fiscal year ended September 30, 2019. The County's reporting entity is defined in Note 1 of the notes to the County's basic financial statements. Federal awards are presented for each federal agency by the Catalog of Federal Domestic Assistance(CFDA)number and state awards are presented for each state agency by the Catalog of State Financial Assistance(CSFA)number when available in the grant agreements or determinable based on a grant's source and purpose. For grants that have not yet been assigned a CFDA or CSFA number, the schedule includes the grant with a CFDA or CSFA number of NA for not available and categorizes the funding under the sub-heading of Other Financial Assistance. Note 2—Summary of Significant Accounting Policies The accounting policies and presentation of the Schedule are presented on the modified accrual basis of accounting and in accordance with accounting principles generally accepted in the United States of America as applicable to governmental organizations. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. During the fiscal year ending September 30,2019,Monroe County elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. Note 3—Noncash Awards The amount of vehicles reported on the schedule is the value of vehicles received by the County from the Federal Department of Transportation. J-10 Monroe County,Florida Notes to Schedule of Expenditures of Federal Awards and State Financial Assistance Projects For the Year Ended September 30,2019 Note 4—Fiscal Year Obligations From Disaster Grants In FY 2019, the Department of Homeland Security's Federal Emergency Management Agency (FEMA) obligated $26,382,875 for Monroe County under its Disaster Grants—Public Assistance Grant Program(CFDA#97.036)for the County's recovery from Hurricane Irma. J-11 MONROE COUNTY, FLORIDA SCHEDULE OF FINDINGS AND QUESTIONED COSTS FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2019 Part I—Summary of Auditor's Results Financial Statement Section Type of report the auditor issued on whether the financial statements audited were prepared in accordance with GAAP: Unmodified Internal control over financial reporting: Material weakness(es) identified? _yes X no Significant deficiency(ies) identified? _yes X none reported Noncompliance material to financial _yes X no statements noted? Federal Awards and State Financial Assistance Projects Section Internal control over major programs: Material weakness(es) identified? yes X no Significant deficiency(ies) identified? yes X none reported Type of auditor's report issued on compliance for major federal awards programs and state financial assistance projects: Unmodified Any audit findings disclosed that are required to be reported in accordance with 2 CFR 200.516(a) and/or Chapter 10.550 yes X no J-12 MONROE COUNTY, FLORIDA SCHEDULE OF FINDINGS AND QUESTIONED COSTS FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2019 Identification of major federal awards programs and state financial assistance projects: Federal Awards Programs: Name of Program or Cluster CFDA Number U.S. Department of Transportation Airport Improvement Program 20.106 Highway Planning and Construction Cluster 20.205-1 CL U.S. Treasury Department Equitable Sharing Program 21.000 U.S. Department of Agriculture Emergency Watershed Protection Program 10.923 State Financial Assistance Projects: Name of Program or Cluster CSFA Number Florida Department of Environmental Protection Statewide Surface Water Restoration &Wastewater Projects 37.039 Florida Department of Transportation Aviation Development Grants 55.004 Small County Outreach Program & Rural Areas 55.009 of Opportunity Florida Housing Finance Corporation State Housing initiative Partnership Program 40.901 Dollar threshold used to distinguish between Type A and Type B programs: Federal $ 2,228,570 State $ 750,000 Auditee qualified as low-risk auditee for federal purposes X yes _no J-13 MONROE COUNTY, FLORIDA SCHEDULE OF FINDINGS AND QUESTIONED COSTS FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2019 Part II -Schedule of Financial Statement Findings This section identifies the significant deficiencies, material weaknesses, fraud, illegal acts, violations of provisions of contracts and grant agreements, and abuse related to the financial statements that are required to be reported in accordance with Government Auditing Standards. There were no findings required to be reported by Government Auditing Standards. Part III -Federal Award Findings and Questioned Costs This section identifies the significant deficiencies, material weaknesses, and material instances of noncompliance, including questioned costs, as well as any material abuse findings, related to the audit of major federal programs, as required to be reported by 2 CFR 200.516(a)of OMB Uniform Guidance. There were no findings required to be reported by 2 CFR 200.516(a). Part IV-State Project Findings and Questioned Costs This section identifies the significant deficiencies, material weaknesses, and material instances of noncompliance, including questioned costs, as well as any material abuse findings, related to the audit of major state projects, as required to be reported by Chapter 10.550, Rules of the Auditor General-Local Governmental Entity Audits. There were no findings required to be reported by Chapter 10.550, Rules of the Auditor General — Local Governmental Entity Audits. J-14 MONROE COUNTY, FLORIDA SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS FEDERAL AWARDS PROGRAMS AND STATE FINANCIAL ASSISTANCE PROJECTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2019 No prior audit findings. J-15 This page is intentionally left blank. Cherry ekaer t;' Independent Auditor's Management Letter To the Honorable Mayor and Board of County Commissioners of Monroe County, Florida: Report on the Financial Statements We have audited the financial statements of the governmental activities,the business-type activities,the discretely presented component unit, each major fund, and the aggregate remaining fund information of Monroe County, Florida (the"County"), as of and for the fiscal year ended September 30,2019, and have issued our report thereon dated March 20, 2020. Auditor's Responsibility We conducted our audit in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; the audit requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance); and Chapter 10.550, Rules of the Auditor General. Other Reporting Requirements We have issued our Report of Independent Auditor on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standards; Report of Independent Auditor on Compliance for Each Major Federal Awards Program and State Financial Assistance Projects and on Internal Control over Compliance Required by Uniform Guidance and Chapter 10.550, Rules of the Auditor General; Schedule of Findings and Questioned Costs; and Report of Independent Accountant on Compliance with Local Government Investment Policies and E911 Requirements of Section 365.172 and 365.173, Florida Statutes. Disclosures in those reports and schedule,which are dated March 20, 2020, should be considered in conjunction with this management letter. Prior Audit Findings Section 10.554(1)(i)l., Rules of the Auditor General, requires that we determine whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report. Reference to whether corrective actions have been taken is provided in separate management letters for each County agency, where applicable. Official Title and Legal Authority Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in this management letter, unless disclosed in the notes to the financial statements. Such disclosure is included in notes to the financial statements. Financial Condition and Management Sections 10.554(1)(i)5.a. and 10.556(7), Rules of the Auditor General, require us to apply appropriate procedures and communicate the results of our determination as to whether or not the County has met one or more of the conditions described in Section 218.503(1), Florida Statutes, and to identify the specific condition(s) met. In connection with our audit of the financial statements of the County, the results of our tests did not indicate the County met any of the specified conditions of a financial emergency contained in Section 218.503(1), Florida Statutes. Pursuant to Sections 10.554(1)(i)5.b. and 10.556(8), Rules of the Auditor General, we applied financial condition assessment procedures for the County. It is management's responsibility to monitor the County's financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same. K-1 Section 10.554(1)(i)2., Rules of the Auditor General, requires that we communicate any recommendations to improve financial management. In connection with our audit, we did not have any such recommendations. Deepwater Horizon Oil Spill Section 10.556(10)(e), Rules of the Auditor General, requires a determination of the County's compliance with Federal and State laws, regulations, contracts or grant agreements related to the receipt and expenditure of funds related to the Deepwater Horizon oil spill.The County's Deepwater Horizon oil spill funds received are unrestricted and, therefore, do not have related compliance requirements. Additional Matters Section 10.554(1)(i)3., Rules of the Auditor General, requires us to communicate noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance. In connection with our audit, we did not have any such findings. Reference to such matters is provided in separate management letters for each County agency,where applicable. Purpose of this Letter The purpose of this management letter is to communicate certain matters prescribed by Chapter 10.550, Rules of the Auditor General. Accordingly, this management letter is not suitable for any other purpose. Orlando, Florida March 20, 2020 K-2 Cherry krt"� Report of Independent Accountant on Compliance with Local Government Investment Policies and E911 Requirements of Sections 365.172 and 365.173, Florida Statutes To the Honorable Mayor and Board of County Commissioners of Monroe County, Florida: We have examined the Monroe County, Florida's (the "County's") compliance with the local government investment policy requirements of Section 218.415, Florida Statutes, and E911 requirements of Sections 365.172 and 365.173, Florida Statutes, during the year ended September 30, 2019. Management of the County is responsible for the County's compliance with the specified requirements. Our responsibility is to express an opinion on the County's compliance with the specified requirements based on our examination. Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether the County complied, in all material respects, with the specified requirements referenced above. An examination involves performing procedures to obtain evidence about whether the County complied with the specified requirements. The nature, timing and extent of the procedures selected depend on our judgment, including an assessment of the risks of material noncompliance, whether due to fraud or error.We believe that the evidence obtained is sufficient and appropriate to provide a reasonable basis for our opinion. Our examination does not provide a legal determination on the County's compliance with the specified requirements. In our opinion, the County complied, in all material respects, with the local investment policy requirements of Section 218.415, Florida Statutes, and E911 requirements of Sections 365.172 and 365.173, Florida Statutes, during the year ended September 30, 2019. The purpose of this report is to comply with the audit requirements of Sections 218.415, 365.172, and 365.173, Florida Statutes, and Rules of the Auditor General. Orlando, Florida March 20, 2020 K-3 OTHER INFORMATION MONROE COUNTY, FLORIDA SCHEDULE OF RECEIPTS AND EXPENDITURES OF FUNDS RELATED TO THE DEEPWATER HORIZON OIL SPILL FOR THE YEAR ENDED SEPTEMBER 30,2019 Amount Received in the Amount Expended in 2018-19 the 2018-19 Source Fiscal Year Fiscal Year Environmental Clean Up Consortium: British Petroleum Agreement No. 140596 $ 23,129 $ - $ 23,129 $ - Note to Schedule of Receipts and Expenditures of Funds Related to the Deepwater Horizon Oil Spill: In FY 2015, Monroe County received $1,107,947 from British Petroleum as a settlement under Agreement No. 140596. In FY 2019, the County earned $23,129 in interest earnings on the settlement funds received from British Petroleum. The County did not expend any of these settlement funds during the fiscal year. L-1