Fiscal Year 2021
MONROECOUNTY,FLORIDA
TAXCOLLECTOR
FINANCIALSTATEMENTSAND
SUPPLEMENTARYINFORMATION
As of and for the Year Ended September 30, 2021
And Reports of Independent Auditor
MONROECOUNTY,FLORIDA
TAXCOLLECTOR
TABLEOFCONTENTS
REPORTOFINDEPENDENTAUDITOR ................................................................................................. 1-2
FINANCIALSTATEMENTS
General Fund ........................................................................................................................ 3
Statement of Revenues, Expenditures, and Changes in Fund Balance
Statement of Fiduciary Net odial Funds ................................................................................... 5
Statement of Changes in Fiduciarystodial Funds ................................................................ 6
Notes to the Financial Statements ............................................................................................................... 7-12
REQUIREDSUPPLEMENTARYINFORMATION
Schedule of Revenues and ExFund ........................................... 13
OTHERSUPPLEMENTARYINFORMATION
Custodial Fund Descriptions ........................................................................................................................... 14
Combining Statement of Fiduciary stodial Funds ............................................................... 15
Combining Statement of Changes in Fiducistodial Funds ........................................... 16
SUPPLEMENTARYREPORTS
Report of Independent Auditor on Internal Control over Financial Reporting and on
Compliance and Other Matters Based on an Audit of Financial Statements
Performed in Accordance with Government Auditing Standards ........................................................... 17-18
Management Letter ............................................................................................... 19-20
Report of Independent Accountant on Compliance with Local Government
Investment Policies ..................................................................................................................................... 21
ReportofIndependentAuditor
To the Honorable Sam C. Steele, CFC
Tax Collector of Monroe County, Florida
ReportontheFinancialStatements
We have audited the accompanying financial statements of the major fund and the aggregate remaining fund
information of the Monroe County, Fl
September 30, 2021, and the related notes to the financial statements as listed in the table of contents.
ResponsibilityfortheFinancialStatements
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.
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 from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
statements. The procedures selected dgment, 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 enpresentation of the financial
statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of
rnal 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 major fund and the aggregate remaining fund information of the Tax Collector as of September 30,
2021, and the respective changes in financial position thereof for the year then ended, in accordance with accounting
principles generally accepted in the United States of America.
EmphasisofMatter
As discussed in Note 1 to the financial statements, the financial statements referred to above were prepared solely
for the purpose of complying with the Rules of the Auditor General of the state of Florida. In conformity with the Rules,
the accompanying financial statements are intended to present the financial position and changes in financial position
of each fund of Monroe County, Florida that is attributable to the Tax Collector. They do not purport to, and do not,
present fairly the financial position of Monroe County, Florida as of September 30, 2021, and the changes in its
financial position for the fiscal year then ended in accordance with accounting principles generally accepted in the
United States of America. Our opinions are not modified with respect to this matter.
cbh.com
OtherMatters
RequiredSupplementaryInformation
Accounting principles generally accepted in the United States of America require that the required supplementary
information as listed in the table of contents be presented to supplement the financial statements. Such
information, although not a part of the financial statements, is required by the Governmental Accounting Standards
Board, who considers it to be an essential part of financial reporting for placing the financial statements in an
appropriate operational, economic, or historical context. We have applied certain limited procedures to the
required supplementary information in accordance with auditing standards generally accepted in the United States
of America, which consisted of inquiries of management about the methods of preparing the information and
responses to our inquiries, the financial statements,
and other knowledge we obtained during our audit of the financial statements. We do not express an opinion or
provide any assurance on the information because the limited procedures do not provide us with sufficient
evidence to express an opinion or provide any assurance.
SupplementaryandOtherInformation
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise
mpanying other supplementary information, as listed in
the table of contents, is presented for purposes of additional analysis and is not a required part of the basic
financial statements.
The other supplementary information is the responsibility of management and was derived from and relates
directly to the underlying accounting and other records used to prepare the financial statements. Such information
has been subjected to the auditing procedures applied in the audit of the 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 accounting standards generally accepted in the United States
of America. In our opinion, the other supplementary information is fairly stated, in all material respects, in relation
to the financial statements as a whole.
OtherReportingRequiredby GovernmentAuditingStandards
In accordance with Government Auditing Standards, we have also issued our report dated March 14, 2022, on
our consideration of the Tax Collector's internal control over financial reporting and on our tests of its compliance
with certain provisions of laws, regulations, contracts, grant agreements, and other matters. The purpose of that
report is 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
over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with
Government Auditing Standards rnal control over financial reporting and
compliance.
Tampa, Florida
March 14, 2022
2
FINANCIALSTATEMENTS
MONROECOUNTY,FLORIDA
TAXCOLLECTOR
BALANCESHEET
GENERALFUND
SEPTEMBER30,2021
ASSETS
Cash $ 5,685,939
Due from Board of County Commissioners162
Due from other governments 6,075
Prepaid items 93,056
Total Assets$ 5,785,232
LIABILITIESANDFUNDBALANCE
Liabilities:
Accounts payable$ 61,690
Accrued wages and benefits payable209,835
Due to Board of County Commissioners5,097,228
Due to other governmental units416,479
Total Liabilities$ 5,785,232
Fund Balance -
Total Liabilities and Fund Balance$ 5,785,232
The accompanying notes to the financial statements are an integral part of this statement. 3
MONROECOUNTY,FLORIDA
TAXCOLLECTOR
STATEMENTOFREVENUES,EXPENDITURES,ANDCHANGESINFUNDBALANCE
GENERALFUND
YEARENDEDSEPTEMBER30,2021
Revenues:
Charges for services$ 3,065,754
Intergovernmental - Board of County Commissioners7,424,641
Total Revenues 10,490,395
Expenditures:
General Government:
Personnel services 3,854,511
Operating and capital outlay expenditures1,122,177
Total Expenditures 4,976,688
Excess of Revenues over Expenditures 5,513,707
Other Financing Uses:
Transfers to Board of County Commissioners(5,097,228)
Transfers to other governmental units(416,479)
Total Other Financing Uses(5,513,707)
Excess of Revenues over Expenditures and Other Financing Uses-
Fund balance, beginning of year -
Fund balance, end of year$ -
The accompanying notes to the financial statements are an integral part of this statement. 4
MONROECOUNTY,FLORIDA
TAXCOLLECTOR
STATEMENTOFFIDUCIARYNETPOSITION
CUSTODIALFUNDS
SEPTEMBER30,2021
ASSETS
Cash $ 9,575,447
Due from individuals 3,696
Total Assets$ 9,579,143
LIABILITIES
Undistributed collections$ 9,474,461
Due to individuals 104,682
Total Liabilities$ 9,579,143
NETPOSITION
Total Net Position$ -
The accompanying notes to the financial statements are an integral part of this statement. 5
MONROECOUNTY,FLORIDA
TAXCOLLECTOR
STATEMENTOFCHANGESINFIDUCIARYNETPOSITION
CUSTODIALFUNDS
YEARENDEDSEPTEMBER30,2021
ADDITIONS
Property taxes and fees collected768,738,260$
Licenses and tag fees collected38,023,887
Other collections 1,551
Total Additions$ 806,763,698
DEDUCTIONS
Property taxes and fees paid768,739,811$
Licenses and tag fees paid38,020,717
Other collections 3,170
Total Deductions 806,763,698
Net change in fiduciary net position -
Net position, beginning of year -
Net position, end of year$ -
The accompanying notes to the financial statements are an integral part of this statement. 6
MONROECOUNTY,FLORIDA
TAXCOLLECTOR
NOTESTOTHEFINANCIALSTATEMENTS
SEPTEMBER30,2021
Noteofoperationsandsummaryofsignificantaccountingpolicies
Reporting Entity
official established pursuant to the Constitution of the stat
not purport to reflect the financial position or the results of operations of Monroe C
taken as a whole. The financial statements of the Tax Collector have been prepared in accordance with accounting
principles and reporting guidelines established by
Entity status for financial reporting purposes is governed by Statement 14, as amended. Although the Tax
ounty, it does not hold sufficient corporate powers of its
own to be considered a legally separate entity for financial reporting purposes. Therefore, under GASB guidelines,
the Tax Collector is reported as a part of the primary government of Monroe County, Florida.
Description of Funds
governmental fund and fiduciary funds.
General Fund
general operations of the Tax Collector that are not required legally or by accounting principles generally
Fiduciary Funds stodial Funds, which are used to account for
assets held by the Tax Collector in a custodial capacity.
Measurement Focus, Basis of Accounting, and Financial Statement Presentation
statements are prepared for the purpose of complying with Florida Statute Section 218.39(2), and Chapter 10.550,
Rules of the Auditor General, which requires the Tax Collector to only present fund financial statements.
The General Fund is presented as a major governmental fund and uses the current financial resources
measurement focus and the modified accrual basis of accounting. Revenues are recognized when measurable
and available. Revenues are considered to be available when they are collectible within the current period or soon
enough thereafter to pay liabilities of the current period. For this purpose, the Tax Collector considers revenues
to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally
are recorded when a liability is incurred, as under accrual accounting. However, expenditures related to
compensated absences and claims and judgments are recorded only when payment is due.
The extent to which General Fund revenues exceed General Fund expenditures is reflected as transfers out and
as liabilities to the Monroe County Board of County
agencies in the same proportion as fees paid by each governmental unit to total fees earned by the Tax Collector.
The Tax Collector reports the General Fund as a major governmental fund and Custodial Funds as a fiduciary
fund type. Custodial Funds do not involve measurement of results of operations.
Budgetary Requirements
with the budget requirements set forth in the Florida Statutes. The budget is prepared on a basis consistent with
U.S. GAAP.
7
MONROECOUNTY,FLORIDA
TAXCOLLECTOR
NOTESTOTHEFINANCIALSTATEMENTS
SEPTEMBER30,2021
Noteofoperationsandsummaryofsignificantaccountingpolicies(continued)
Cash
Capital Assets or's operations are recorded as expenditures
in the General Fund at the time assets are received and a liability is incurred. Purchased assets are capitalized at
historical cost in the government-wide financial statements of the County. In addition, the Board provides
administrative office space used by the Tax Collector at no charge.
Compensated Absences
sick pay benefits. The Tax Collector is not legally required to and does not accumulate expendable available
financial resources to liquidate this obligation. The obligation is accrued in the government-wide financial
statements of the County. A summary of activity for the
follows:
Balance, October 1, 2020$ 198,712
Additions 445,274
Reductions (309,873)
Balance, September 30, 2021$ 334,113
Use of Estimates The preparation of financial statements requires management to make use of estimates that
affect reported amounts. Actual results could differ from estimates.
Distribution of Excess Revenues
expenditures is to be distributed to each governmental agency in the same proportion as the fees paid by the
government agency bear to total fee income received by the Tax Collector. The amount of undistributed excess
fees at the end of the fiscal year is reported as amounts due to the Board and other governmental agencies; the
transfer of total excess fees is reported as other financing uses.
Accounting Change Effective October 1, 2020, the Tax Collector adopted GASB Statement 84, Fiduciary
Activities. Implementation of the statement changed all instan
added a requirement for a Statement of Changes in Fiduciary Net Position.
Noteandinvestments
The Tax Collector follows Florida Statutes for its investment policy, which authorizes investments in certificates of
deposit, savings accounts, repurchase agreements, the Local Government Surplus Funds Trust Fund
administered by the Florida State Board of Administration, and obligations of the U.S. government and government
agencies unconditionally guaranteed by the U.S. government.
Cash consists of demand deposits insured by the Federal Deposit Insurance Corporation or covered by the state
of Florida collateral pool, a multiple financial institution pool with the ability to assess its members for collateral
shortfalls if a member institution fails and petty cash.
As of September 30, 2021, the Tax Collector has demand deposits with a carrying amount of $15,249,486, a bank
balance of $14,936,342, and petty cash funds of $11,900.
8
MONROECOUNTY,FLORIDA
TAXCOLLECTOR
NOTESTOTHEFINANCIALSTATEMENTS
SEPTEMBER30,2021
Notesystem
Plan Description:
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
Florida Statutes, the FRS also provides a defined contri
Plan, which is administered by the State Board of Administration.
As a general rule, membership in the FRS is compulsory for all employees working in a regularly established
position for a state agency, county government, district school board, state university, community college, or a
participating city or special district within the state of Florida. The FRS provides retirement and disability benefits,
annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. Benefits are established
by Chapter 121, Florida Statutes, and Chapter 60S, Florida Administrative Code. Amendments to the law can be
made only by an act of the Florida Legislature.
Benefits under the Pension Plan are computed on the basis of age, average final compensation, and service
credit. For Pension Plan members enrolled before July 1, 2011, regular class members who retire at or after age
62 with at least six years of credited service, or 30 years of service regardless of age are entitled to a retirement
benefit payable monthly for life, equal to 1.6% of their final average compensation based on the five highest years
of salary, for each year of credited service. Vested members with less than 30 years of service may retire before
age 62 and receive reduced retirement benefits. Senior Management Service class members who retire at or
after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a
retirement benefit payable monthly for life, equal to 2.0% of their final average compensation based on the five
highest years of salary for each year of credited service.
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. Substantial changes were made to the
Pension Plan during fiscal year 2011, affecting new members enrolled on or after July 1, 2011 by extending the
vesting requirement to eight years of credited service and increasing normal retirement to age 65 or 33 years of
service regardless of age. Also, the final average compensation for these members is based on the eight highest
years of salary.
The HIS Plan provides a monthly benefit to assist retirees in paying their health insurance costs and is
administered by the Florida Department of Management Services, Division of Retirement. Eligible retirees and
beneficiaries receive a monthly health insurance subsidy payment of $5 for each year of creditable service, with
a minimum payment of $30 and a maximum payment of $150 per month. The HIS Plan is funded by required
contributions from FRS participating employees as set forth by the Florida Legislature, based on a percentage of
gross compensation for all active FRS members.
In addition to the above benefits, the FRS administers
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.
9
MONROECOUNTY,FLORIDA
TAXCOLLECTOR
NOTESTOTHEFINANCIALSTATEMENTS
SEPTEMBER30,2021
Notesystem(continued)
For those members who elect participation in the Investment Plan rather than the Pension Plan, vesting occurs at
one year of service. These participants receive a contribution for self-direction in an investment product with a
third party administrator selected by the State Board of Administration. Employer and employee contributions,
including amounts contributed to indi by law, but the ultimate benefit
depends in part on the performance of investment funds. Benefit terms, including contribution requirements, for
the Investment Plan are established and may be amended by the Florida Legislature. The Investment Plan is
funded with the same employer and employee contribution rates that are based on salary and membership class
(Regular Class, Elected County Officers, etc.), as the FRS defined benefit plan. Contributions are directed to
individual member accounts, and the individual members allocate contributions and account balances among
various approved investment choices. Costs of administering the plan, including the FRS Financial Guidance
Program, are funded through an employer contribution of 0.06% of payroll and by forfeited benefits of plan
members.
The Tax Collector recognizes pension expenditures in an amount equal to amounts paid to the Pension Plan, the
defined contribution plan, and the HIS Plan, amounting to $259,394, $150,992, and $51,836, respectively, for the
s payments for the Pension Plan and the HIS Plan after
June 30, 2021, the measurement date used to determine the net pension liability associated with the Pension
Plan and HIS Plan, amounted to $91,710 and $12,143, respectively. The Tax Collector is not legally required to
and does not accumulate expendable available resources to liquidate the retirement obligation related to its
employees. Accordingly, the net pension liability and associated deferred outflows and deferred inflows are
presented on the government-wide financial statements of the County, following requirements of GASB Statement
68, , and GASB
Statement 71, Pension Transition for Contributions Made Subsequ
of GASB Statement 68, effective October 1, 2014.
Funding Policy:
All enrolled members of the Pension Plan are required to contribute 3.0% of their salary to the FRS. In addition
to member contributions, governmental employers are required to make contributions to the FRS based on state-
wide contribution rates. The employer contribution rates by job class for the periods from October 1, 2020 through
June 30, 2021, and July 1, 2021 through September 30, 2021,
al year ended September 30, 2021, the Tax Collector
contributed to the plan an amount equal to 14.80% of covered payroll.
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. That report may be viewed on the Florida Department of Management Services website located at
www.dms.myflorida.com/workforce_operations/retirement/publications.
10
MONROECOUNTY,FLORIDA
TAXCOLLECTOR
NOTESTOTHEFINANCIALSTATEMENTS
SEPTEMBER30,2021
Notepostemploymentbenefitsplan
In addition to the pension benefits described in Note 3, the Tax Collector offers to its employees a single employer
defined benefit healthcare plan, which is administered by the Board. Florida Statute 112.0801 requires the County
to provide retirees and their eligible dependents with the option to participate in the OPEB plan if the County
provides health insurance to its active employees and their eligible dependents. The OPEB plan provides medical
coverage, prescription drug benefits, and life insurance to both active and eligible retired employees. The OPEB
plan does not issue a publicly available financial report. No assets are accumulated in a trust that meets the criteria
as set forth in GASB Statement 75, Accounting and Financial Reporting for Postemployment Benefits Other Than
Pensions.
The Board may amend the OPEB plan design, with changes to the benefits, premiums and/or levels of participant
contribution at any time. On at least an annual basis, in an open session, and prior to the annual enrollment
process, the Board approves the rates for the coming calendar year for the retiree and County contributions.
Eligibility for postemployment participation in the OPEB plan is limited to full-time employees of the County, and
the Constitutional Officers. An employee who retires as an active participant in the OPEB plan and was hired on
or after October 1, 2001 may continue to participate in the OPEB plan by paying the monthly premium established
annually by the Board. An employee who retires as an active participant in the plan, was hired prior to October 1,
2001, has at least ten years of full-time service with the County, and meets the retirement criteria of the FRS but
is not eligible for Medicare, may maintain group health insurance benefits with Monroe County following
retirement, provided the retiring employee contributes the amounts shown in the table below.
ContributionasPercentageofAnnualActuarialRate
PlanYearsofServicewithMonroeCounty
Year
25+20241019
(1)
2020 HIS 20% 34%
2021 HIS 22% 42%
2022 HIS 25% 50%
2023 HIS 25% 50%
2024 HIS 25% 50%
(1)
The new retiree contributions began a five-year phased-in approach beginning
January 1, 2018.
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 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
10 years of full-time service with the County, and meets the retirement criteria of the FRS and is eligible for
Medicare at the time of retirement or becomes eligible for Medicare following retirement, may maintain group
health insurance benefits with Monroe County following retirement, provided the retiring employee contributes the
Actuarial Rate for Medicare retirees as determined by the actuarial firm engaged by the County, less a $250 per
month County subsidy. Alternatively, retirees meeting these criteria may elect to leave the County health plan and
receive a $250 per month payment from the County, payable for the lifetime of the retiree.
11
MONROECOUNTY,FLORIDA
TAXCOLLECTOR
NOTESTOTHEFINANCIALSTATEMENTS
SEPTEMBER30,2021
Notepostemploymentbenefitsplan(continued)
The Board engages an actuarial firm on a biannual basis to determine
The Tax Collector has no responsibility to the OPEB plan other than to make the periodic payments determined
by the Board, which are presented as expenditures when made and amounted to $101,916 for the year ended
September 30, 2021. Further information about the OPEB
at www.clerk-of-the-court.com.
Notemanagement
The Tax Collector is exposed to various risks of loss related to tort; theft of, damage to, and destruction of assets;
errors and omissions; injuries to employees; and natural disasters. The Tax Collector participates in the coverage
oup Insurance, and Risk Management internal service
funds. Under these programs, the Workers' Compensation provides $500,000 coverage per claim for regular
the self-insured coverage are covered by an excess
insurance policy. Risk Management has a $5,000,000 excess insurance policy for general liability claims with a
$200,000 self-insured retention, and building property damage is covered for the actual cost of the buildings with
a deductible of $50,000. Deductibles for windstorm and flood vary by location. Monroe County purchases
commercial insurance for claims in excess of coverage provided by the funds and for all other risks of loss. Settled
claims have not exceeded this commercial coverage in any of the past three years. The Tax Collector makes
payments to the Workers' Compensation, Group Insurance, and Risk Management Funds based on estimates of
the amounts needed to pay prior and current year claims.
Note
Operating Leases equipment under operating lease agreements.
Total lease payments made in 2021 were $201,595.
The following is a schedule by years of future minimum rentals under noncancelable operating leases as of
September 30, 2021:
YearsEndingSeptember30,Payments
2022$ 198,379
2023 201,013
2024 153,570
2025 83,019
2026 41,920
$ 677,901
Note
The Tax Collector is a party from time to time in various lawsuits and other claims incidental to the ordinary course
of its operation, some of which are coogram. While the results of litigation
cannot be predicted with certainty, management believes the final outcome of such litigation will not have a
12
REQUIREDSUPPLEMENTARYINFORMATION
MONROECOUNTY,FLORIDA
TAXCOLLECTOR
SCHEDULEOFREVENUESANDEXPENDITURESBUDGETANDACTUAL
GENERALFUND
SEPTEMBER30,2021
GeneralFund
Variance
OriginalFinalPositive
BudgetBudgetActual(Negative)
Revenues:
Charges for services2,163,700$ 2,163,700$ 3,065,754$ 902,054$
Intergovernmental - Board of
County Commissioners4,450,800 4,450,800 7,424,641 2,973,841
Total Revenues6,614,500 6,614,500 10,490,395 3,875,895
Expenditures:
General government:
Personnel services3,996,939 3,986,860 3,854,511 132,349
Operating and capital outlay expenditures921,793 1,145,026 1,122,177 22,849
Total Expenditures4,918,732 5,131,886 4,976,688 155,198
Excess of Revenues over Expenditures1,695,768 1,482,614 5,513,707 4,031,093
Other Financing Uses:
Transfer to Board of County Commissioners(1,695,768) (1,482,614) (5,097,228) (3,614,614)
Transfer to other governmental units- - (416,479) (416,479)
Total Other Financing Uses(1,695,768) (1,482,614) (5,513,707) (4,031,093)
Excess of Revenues over Expenditures
and Other Financing Uses-$ -$ -$ -$
13
OTHERSUPPLEMENTARYINFORMATION
MONROECOUNTY,FLORIDA
TAXCOLLECTOR
CUSTODIALFUNDDESCRIPTIONS
YEARENDEDSEPTEMBER30,2021
The Combining Statement of Fiduciary Net Position
Funds and Combining Statement of Changes in Fiduciary
following pages. The purpose of each fund shown on these statements are described below.
To account for the collection and distribution of local property tax funds.
Licenses Fund funds generated from the sale of miscellaneous
state licenses.
14
MONROECOUNTY,FLORIDA
TAXCOLLECTOR
COMBININGSTATEMENTOFFIDUCIARYNETPOSITION
CUSTODIALFUNDS
SEPTEMBER30,2021
Property TaxLicensesTotal
ASSETS
Cash$ 9,335,272$ 240,175$ 9,575,447
Due from individuals 1,551 2,145 3,696
Total Assets$ 9,336,823$ 242,320$ 9,579,143
LIABILITIES
Undistributed collections$ 9,234,255$ 240,206$ 9,474,461
Due to individuals 102,568 2,114 104,682
Total Liabilities$ 9,336,823$ 242,320$ 9,579,143
NETPOSITION
Total Net Position$ -$-$ -
15
MONROECOUNTY,FLORIDA
TAXCOLLECTOR
COMBININGSTATEMENTOFCHANGESINFIDUCIARYNETPOSITION
CUSTODIALFUNDS
YEARENDEDSEPTEMBER30,2021
Property TaxLicensesTotal
ADDITIONS
Property taxes and fees collected768,738,260$ -$ 768,738,260$
Licenses and tag fees collected- 38,023,887 38,023,887
Other collections1,551 - 1,551
Total Additions$ 38,023,887768,739,811$ 806,763,698$
DEDUCTIONS
Property taxes and fees paid768,739,811$ -$ 768,739,811$
Licenses and tag fees paid- 38,020,717 38,020,717
Other collections- 3,170 3,170
Total Deductions 38,023,887768,739,811 806,763,698
Net change in fiduciary net position- - -
Net position, beginning of year, as previously stated- - -
Net position, end of year$ --$ -$
16
SUPPLEMENTARYREPORTS
ReportofIndependentAuditoronInternalControloverFinancialReportingandon
ComplianceandOtherMattersBasedonanAuditofFinancialStatements
PerformedinAccordancewith GovernmentAuditingStandards
To the Honorable Sam C. Steele, CFC
Tax Collector 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 major fund and the aggregate remaining fund
information of the Monroe County, Fl
September 30, 2021, and the related notes to the financial statements, and we have issued our report thereon
dated March 14, 2022 for the purpose of compliance with Section 218.39(2), Florida Statutes, and Chapter 10.550,
Rules of the Auditor General-Local Governmental Entity Audits.
InternalControloverFinancialReporting
In planning and performing our audit of the financial statem
for designing audit procedures that are appropriate in the
circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of
expressing an opinion on the effectiveness of the Tax Collect
an opinion on the effectiveness of the
A deficiency in internal control exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal
control, such that there is a reasonable possibility that a material misstatem
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.
ComplianceandOtherMatters
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 financial
statements. 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.
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PurposeofthisReport
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
on compliance. This report is an integral part of an audit performed in accordance with Government Auditing
Standards
not suitable for any other purpose.
Tampa, Florida
March 14, 2022
18
IndependentManagementLetter
To the Honorable Sam C Steele, CFC
Tax Collector of Monroe County, Florida
ReportontheFinancialStatements
We have audited the financial statement
of and for the year ended September 30, 2021, and have issued our report thereon dated March 14, 2022.
Responsibility
We conducted our audit in accordance with auditing standards generally accepted in the United States of America
and the standards applicable to financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States; and Chapter 10.550, Rules of the Auditor General.
OtherReportingRequirements
We have issued our Report of Independent Auditor on Internal Control over Financial Reporting and on
Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with
Government Auditing Standard s and Report of Independent Accountant on Compliance with Local Government
Investment Policies regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor
General. Disclosures in these reports, which are dated March 14, 2022, should be considered in conjunction with
this management letter.
PriorAuditFindings
Section 10.554(1)(i)1., Rules of the Auditor General, requires that we determine whether or not corrective actions
have been taken to address findings and recommendations made in the preceding annual financial report. No
recommendations were made in the preceding annual financial audit report.
OfficialTitleandLegalAuthority
Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal authority for
the primary government and each component unit of the reporting entity be disclosed in this management letter,
unless disclosed in the notes to the financial statements. The Tax Collector is a separately elected county official
established pursuant to the Constitution of the state of Florida. There are no component units related to the Tax
Collector.
FinancialManagement
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.
AdditionalMatters
Section 10.554(1)(i)3., Rules of the Auditor General, requires that we 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.
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PurposeofthisLetter
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.
Tampa, Florida
March 14, 2022
20
ReportofIndependentAccountantonCompliancewith
LocalGovernmentInvestmentPolicies
To the Honorable Sam C Steele, CFC
Tax Collector of Monroe County, Florida
We have examined the Monroe County, Florida Tax Collect
government investment policy requirements of Section 218.415, Florida Statutes, during the year ended
September 30, 2021. Management of the Tax Collector is re
specified requirements. Our responsibility is to express an opinion on the Tax Collector'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 Tax Collector complied, in all material respects, with the specified
requirements referenced above. An examination involves performing procedures to obtain evidence about
whether the Tax Collector complied with the specified requirements. The nature, timing, and extent of the
procedures selected depend on our judgement, 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.
requirements.
In our opinion, the Tax Collector complied, in all material respects, with the local investment policy requirements
of Section 218.415, Florida Statutes, during the year ended September 30, 2021.
The purpose of this report is to comply with the audit requirements of Section 218.415, Florida Statutes, and Rules
of the Auditor General.
Tampa, Florida
March 14, 2022
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