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Fiscal Year 2021 MONROECOUNTY,FLORIDA BOARDOFCOUNTYCOMMISSIONERS FINANCIALSTATEMENTS As of and for the Year Ended September 30, 2021 And Report of Independent Auditor MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Financial Statements For The Fiscal Year Ended September 30, 2021 TABLE OF CONTENTS PAGE Table of ContentsA-1 Basic Financial Statements Report of Independent AuditorB-1 Fund Financial Statements: Balance Sheet - Governmental FundsC-1 Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental FundsC-3 Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Major Governmental Funds: General FundC-5 Fine and Forfeiture FundC-10 Governmental Grants FundC-12 Statement of Net Position - Proprietary FundsC-15 Statement of Revenues, Expenses and Changes in Net Position - Proprietary FundsC-19 Statement of Cash Flows - Proprietary FundsC-21 Notes to Financial StatementsD-1 Required Supplementary Information: Florida Retirement System Schedule of the Board's Proportionate Share of Net Pension Liability - Florida Retirement SystemE-1 Schedule of the Board's Contributions - Florida Retirement SystemE-3 Schedule of the Board's Proportionate Share of Net Pension Liability - Health Insurance Subsidy ProgramE-5 Schedule of the Board's Contributions Health Insurance Subsidy ProgramE-7 Pension Plan for Volunteer Firefighters and Emergency Medical Services Schedule of Changes in the Board's Net Pension Liability and Related RatiosE-9 Schedule of Employer ContributionsE-11 Post Employment Benefits Other Than Pension Schedule of Changes in the Board's Total OPEB Liability and Related RatiosE-13 Combining and Individual Fund Statements and Schedules: Schedules of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual One Cent Infrastructure Surtax Capital Project FundF-1 Infrastructure Revenue Bonds Series 2014 Capital Projects FundF-2 Cudjoe Regional Wastewater Capital Project FundF-3 All Debt Service FundsF-4 (Continued) A-1 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Financial Statements For The Fiscal Year Ended September 30, 2021 TABLE OF CONTENTS (continued) Combining and Individual Fund Statements and Schedules (continued):PAGE Combining Balance Sheet - Nonmajor Governmental FundsG-1 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Nonmajor Governmental FundsG-11 Schedules of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Special Revenue Funds: Affordable Housing ProgramsG-21 Tourist Development, All Districts, Two CentG-22 Tourist Development, Administration and Promotional, Two CentG-23 Tourist Development, District OneG-24 Tourist Development, District TwoG-25 Tourist Development, District ThreeG-26 Tourist Development, District FourG-27 Tourist Development, District FiveG-28 Impact Fees - RoadwaysG-29 Impact Fees - Parks and RecreationG-30 Impact Fees - LibrariesG-31 Impact Fees - Solid WasteG-32 Impact Fees - Fire and EMSG-33 Fire and Ambulance, District #1 - Lower and Middle KeysG-34 Unincorporated Area Service District - Parks and RecreationG-35 Unincorporated Area Service District - Planning, Building & ZoningG-36 Municipal PolicingG-38 911 Enhancement FeesG-39 Duck Key Security DistrictG-40 Local Housing AssistanceG-41 Boating ImprovementG-42 Miscellaneous Special RevenueG-43 Environmental RestorationG-45 Law Enforcement TrustG-46 Court Facility FeesG-47 Drug Abuse TrustG-48 Marathon Municipal Service Taxing UnitG-49 (Continued) A-2 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Financial Statements For The Fiscal Year Ended September 30, 2021 TABLE OF CONTENTS (continued) Combining and Individual Fund Statements and Schedules (continued):PAGE Middle Keys Health Care Municipal Service Taxing UnitG-50 Bay Point Municipal Service Taxing UnitG-51 Big Coppitt Municipal Service Taxing UnitG-52 Key Largo Municipal Service Taxing UnitG-53 Stock Island WastewaterG-54 Conch Key Municipal Service Taxing UnitG-55 Long Key-Layton Municipal Service Taxing UnitG-56 Duck Key Municipal Service Taxing UnitG-57 Canal #266 Municipal Service Business UnitG-58 Building FundG-59 Road and Bridge FundG-60 Clerk's Revenue Note Capital Projects FundG-61 Infrastructure Revenue Bonds Series 2007 Capital Projects FundG-62 Big Coppitt Wastewater Capital Project FundG-63 Duck Key Wastewater Project Capital Projects FundG-64 Long Key Wastewater Project Capital Projects FundG-65 Land Acquisition Fund Capital Projects FundG-66 Combining Statement of Net Position - Internal Service FundsH-1 Combining Statement of Revenues, Expenses, and Changes in Net Position - Internal Service FundsH-3 Combining Statement of Cash Flows - Internal Service FundsH-5 COMPONENT UNIT Comprehensive Plan Land Authority - Statement of Net PositionI-1 Comprehensive Plan Land Authority - Statement of ActivitiesI-2 OTHER REPORTS 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 J-1 Schedule of Findings and RecommendationsJ-3 Corrective Action PlanJ-4 Independent Auditor's Management LetterJ-5 Report of Independent Accountant on Compliance with Local Government InvestmentJ-7 Policies A-3 ReportofIndependentAuditor To the Clerk Ex Officio, Mayor Board of County Commissioners Monroe County, Florida ReportontheFinancialStatements We have audited the accompanying financial statements of each major fund and the aggregate remaining fund information of the Monroe County, Florida Board of County Commissioners (the ÐBoardÑ) as of and for the year ended September 30, 2021, and the related notes to the financial statements, which collectively comprise the BoardÓs basic financial statements as listed in the table of contents. ağƓğŭĻƒĻƓƷ͸ƭResponsibilityfortheFinancialStatements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. !ǒķźƷƚƩ͸ƭResponsibility Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditorÓs judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entityÓs 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 entityÓs internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Opinions In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of each major fund and the aggregate remaining fund information of the Board as of September 30, 2021, 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 and Governmental Grants Fund for the year then ended in accordance with accounting principles generally accepted in the United States of America. B-1 ĭĬŷ͵ĭƚƒ EmphasisofMatters As described in Note 1, the financial statements referred to are not intended to be a complete presentation of the financial position, changes in financial position and cash flows, where applicable, of the Board. Additionally, the financial statements present only the Board and are not intended to present the financial position and the changes in financial position and budgetary comparison and cash flows, where applicable, of Monroe County, Florida, taken as a whole. Corrections of Prior Period As described in Note 21 to the financial statements, net position at September 30, 2020 was restated in the amount of $7,381,343 due to a correction of the prior period. Our opinions are not modified with respect to this matter. OtherMatters RequiredSupplementaryInformation Accounting principles generally accepted in the United States of America require that the Required Supplementary Information as listed in the table of contents be presented to supplement the financial statements. Such information, although not a part of the financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with managementÓs responses to our inquiries, the financial statements, and other knowledge we obtained during our audit of the financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. SupplementaryandOtherInformation Our audit was conducted for the purpose of forming opinions on the financial statements of the Board taken as a whole. The combining and individual fund statements and schedules as well as the information presented for the BoardÓs component unit, as listed in the table of contents, are presented for purposes of additional analysis and are not a required part of the financial statements. The accompanying information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. Such information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with accounting standards generally accepted in the United States of America. In our opinion, this 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 31, 2022, on our consideration of the BoardÓs internal control over financial reporting and 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 BoardÓs 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 BoardÓs internal control over financial reporting and compliance. Tampa, Florida March 31, 2022 B-2 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS BALANCE SHEET GOVERNMENTAL FUNDS SEPTEMBER 30, 2021 Fine & Governmental GeneralForfeiture Grants Assets Cash and Cash Equivalents$ 5,542,975$ 2,097,516$ 1,540,919 Investments 30,271,221 11,196,855 3,830,102 Accounts Receivable, Net 22,463 9,813,447 35,169 Assessments Receivable - - - Due from Other Funds 451,707 352,867 186,939 Due from Other Governmental Units 1,274,969 52,655 16,334,098 Due from Constitutional Officers 9,102,860 1,479,625 - Mortgages/Notes Receivable - - 277,620 Allowance for Mortgages/Notes Receivable - - (277,620) Interest Receivable 53,091 19,524 8,224 Inventory 4,686 - - Total Assets$ 46,723,972$ 25,012,489$ 21,935,451 Liabilities, Deferred Inflows of Resources and Fund Balances Liabilities: Accounts Payable1,996,889$ 187,219$ 1,830,915$ Retainage Payable - - 269,351 Accrued Wages and Benefits Payable 777,240 146,264 350,211 Due to Other Funds - - 2,443,165 Due to Other Governmental Units 678,318 1,910 - Due to Constitutional Officers 211,484 23,123 86,169 Deposits in Escrow 52,650 - - Total Liabilities 3,716,581 358,516 4,979,811 Deferred Inflows of Resources: Advances from Other Governments - - 7,208,960 Unavailable Revenues - 8,082,451 14,369,162 Total Deferred Inflows of Resources - 8,082,451 21,578,122 Fund Balances: Nonspendable 4,686 - - Restricted - 16,571,522 - Committed 10,000,000 - - Assigned 10,058,026 - - Unassigned 22,944,679 - (4,622,482) Total Fund Balances 43,007,391 16,571,522 (4,622,482) Total Liabilities, Deferred Inflows of Resources, and Fund Balances46,723,972$ $ 25,012,489$ 21,935,451 The notes to the financial statements are an integral part of these statements. C-1 One Cent Infrastructure Debt Nonmajor Total Cudjoe Regional Infrastructure Revenue Bonds ServiceGovernmental Governmental Wastewater Surtax Series 2014 Project Fund Funds Funds $ 1,216,6283,470,674$ 673,996$ 911,135$ 21,624,561$ 37,078,404$ 5,596,13923,019,488 3,079,804 2,543,224 101,958,908 181,495,741 -- - - 144,578 10,015,657 -- 21,807,812 - 3,504,228 25,312,040 -389,664 - - 1,800,130 3,181,307 -2,683,773 71,035 - 1,326,679 21,743,209 -- 3,155 - 8,253,924 18,839,564 -- - - 10,004,280 10,281,900 -- - - (10,004,280) (10,281,900) 10,14040,561 5,747 4,594 183,179 325,060 -- - - - 4,686 $ 6,822,90729,604,160$ 25,641,549$ 3,458,953$ 138,796,187$ 297,995,668$ $ 792,7131,591,153$ -$ -$ 4,597,245$ 10,996,134$ 1,222,94086,705 - - 235,561 1,814,557 -90,808 5,041 - 878,135 2,247,699 2,368525,506 - 276,558 10,014 3,257,611 -- - - 20,732 700,960 -- - - 96,452 417,228 -- - - 236,334 288,984 2,018,0212,294,172 5,041 276,558 6,074,473 19,723,173 -- - - - 7,208,960 -- 20,933,103 - 3,335,308 46,720,024 -- 20,933,103 - 3,335,308 53,928,984 -- - - - 4,686 4,804,88627,309,988 4,703,405 3,182,395 117,928,079 174,500,275 -- - - 5,289,935 15,289,935 -- - - 6,169,529 16,227,555 -- - - (1,137) 18,321,060 4,804,88627,309,988 4,703,405 3,182,395 129,386,406 224,343,511 $ 6,822,90729,604,160$ 25,641,549$ 3,458,953$ 138,796,187$ 297,995,668$ C-2 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2021 Fine & Governmental GeneralForfeiture Grants Revenues: Taxes29,924,191$ 51,428,823$ -$ Licenses and Permits- - - Intergovernmental16,874,136 71,639 20,859,591 Charges for Services772,608 9,372,439 161,782 Fines and Forfeitures4,039 100,210 - Investment Income125,255 98,391 5,223 Miscellaneous545,023 124,248 28,120 Total Revenues48,245,252 61,195,750 21,054,716 Expenditures: Current: General Government36,818,938 1,229,049 - Public Safety1,589,215 61,953,702 3,753,773 Physical Environment506,541 - 3,609,212 Transportation49,809 - 1,870,426 Economic Environment734,691 - 6,647,888 Human Services8,110,800 - 1,229,667 Culture and Recreation3,753,857 - 1,878,161 Court-Related4,084,599 2,422,550 - Capital Projects- - - Debt Service: Principal- - - Interest- - - Total Expenditures55,648,450 65,605,301 18,989,127 Excess/Deficiency of Revenues Over (Under) Expenditures(7,403,198) (4,409,551) 2,065,589 Other Financing Sources (Uses): Transfers from Other Funds8,114,084 36,566 858,839 Transfers to Other Funds(310,055) (11,944) (10,820,765) Transfers from Constitutional Officers6,818,126 1,456,828 - Total Other Financing Sources (Uses)14,622,155 1,481,450 (9,961,926) Net Change in Fund Balances (2,928,101)7,218,957 (7,896,337) Fund Balances-October 1 19,499,62335,788,434 3,273,855 Fund Balances-September 30$ 16,571,52243,007,391$ (4,622,482)$ The notes to the financial statements are an integral part of these statements. C-3 Cudjoe Regional One Cent Total Infrastructure Debt Nonmajor WastewaterGovernmental Infrastructure Revenue Bonds ServiceGovernmental Surtax Series 2014 Project Fund Funds Funds $ -28,613,898$ -$ -$ 82,279,100$ 192,246,012$ -- 2,379,005 - 6,785,598 9,164,603 -- - - 7,723,388 45,528,754 -- - - 10,819,612 21,126,441 -- - - 3,625,261 3,729,510 21,33044,830 525,228 25,817 387,753 1,233,827 -25,059 127,860 - 1,067,175 1,917,485 21,33028,683,787 3,032,093 25,817 112,687,887 274,946,632 -- - - 4,156,394 42,204,381 -- - - 30,708,831 98,005,521 -- - - 1,441,793 5,557,546 -- - - 9,275,906 11,196,141 -- - - 29,832,872 37,215,451 -- - - 2,280,834 11,621,301 -- - - 3,769,560 9,401,578 -- - - 770,133 7,277,282 20,937,4527,008,950 1,175,992 - 118,609 29,241,003 -- - 19,207,119 - 19,207,119 -- - 2,635,270 - 2,635,270 20,937,4527,008,950 1,175,992 21,842,389 82,354,932 273,562,593 (20,916,122)21,674,837 1,856,101 (21,816,572) 30,332,955 1,384,039 9,895,000333,664 - 21,701,990 1,778,185 42,718,328 -(20,801,066) (2,125,740) - (7,210,306) (41,279,876) -- 3,154 462,570 978,314 9,718,992 9,895,000(20,467,402) (2,122,586) 22,164,560 (4,453,807) 11,157,444 (11,021,122)1,207,435 (266,485) 347,988 25,879,148 12,541,483 15,826,00826,102,553 4,969,890 2,834,407 103,507,258 211,802,028 $ 4,804,88627,309,988$ 4,703,405$ 3,182,395$ 129,386,406$ 224,343,511$ C-4 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL GENERAL FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Taxes27,976,547$ 27,976,547$ 29,924,191$ 1,947,644$ Intergovernmental12,701,046 12,704,159 16,874,136 4,169,977 Charges for Services1,137,100 1,137,100 772,608 (364,492) Fines and Forfeitures5,000 5,000 4,039 (961) Investment Income345,000 345,000 125,255 (219,745) Miscellaneous627,000 634,311 545,023 (89,288) Total Revenues42,791,693 42,802,117 48,245,252 5,443,135 EXPENDITURES: Current: General Government: Board of County Commissioners Admin1,945,482 2,181,964 2,154,700 27,264 Clerk to BOCC-Financial Package5,000 5,000 - 5,000 Gov't Enterprise Management System75,000 75,000 28,952 46,048 Clerk Comm & Fees-TDC500,800 500,800 500,800 - Clerk Comm & Fees-Noncourt5,833,800 6,633,800 6,633,800 - Insurances-Supervisor of Elections175,373 175,373 148,876 26,497 Promotional Advertising5,000 5,000 - 5,000 Value Adjustment Board35,000 35,000 27,603 7,397 Employee Suggestion Plan10,000 10,000 - 10,000 FIRM Study50,000 50,000 50,000 - County Administrator1,322,304 1,486,590 1,233,376 253,214 382,838 Technical Services2,958,202 2,812,202 2,429,364 Grants Administration119,115 183,363 170,502 12,861 Office of Management & Budget617,783 667,783 653,545 14,238 Purchasing240,849 255,849 244,481 11,368 Personnel495,668 576,668 562,092 14,576 Public Works Management10,318 10,318 10,164 154 Public Works Facilities Maintenance8,486,049 8,438,162 8,189,686 248,476 ADA Compliance50,000 50,000 - 50,000 County Attorney1,356,804 1,356,554 1,225,237 131,317 Tax Collector6,342,208 6,342,208 6,076,611 265,597 Property Appraiser4,501,994 4,501,994 4,408,519 93,475 Supervisor of Elections1,918,638 1,918,888 1,918,638 250 Quasi External Services230,000 230,000 151,992 78,008 Hurricane100,000 100,000 - 100,000 Total General Government37,385,387 38,602,516 36,818,938 1,783,578 (Continued) The notes to the financial statements are an integral part of these statements. C-5 S MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONER STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) GENERAL FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) Public Safety: Emergency Management518,761 538,846 434,309 104,537 Marathon Emergency Operations Center84,325 76,325 41,722 34,603 Medical Examiner695,798 695,798 552,420 143,378 Fire Academy602,185 602,185 527,260 74,925 Fire & EMS Length of Svcs Award Prog48,000 48,000 33,504 14,496 Total Public Safety1,949,069 1,961,154 1,589,215 371,939 Physical Environment: Extension Service228,108 236,108 201,350 34,758 Sustainability710,534 630,534 305,191 325,343 Total Physical Environment938,642 866,642 506,541 360,101 Transportation: County Engineer98,781 43,781 49,809 (6,028) Total Transportation98,781 43,781 49,809 (6,028) Economic Environment: Literacy Volunteers of America50,000 50,000 50,000 - Veterans Affairs588,828 588,828 576,189 12,639 Veterans Affairs Transportation157,932 157,932 108,502 49,430 Total Economic Environment796,760 796,760 734,691 62,069 Human Services: Middle Keys Guidance Clinic41,225 41,225 41,225 - Older Americans Volunteer Program500 500 - 500 Domestic Abuse Shelter80,000 80,000 80,000 - 109,000 - Florida Keys Outreach Coalition109,000 109,000 Samuel's House105,000 105,000 105,000 - Womankind160,000 160,000 160,000 - Grace Jones60,000 60,000 60,000 - AIDS Help87,500 87,500 87,500 - Good Health Clinic105,000 105,000 105,000 - Monroe Co. Assoc. for ReMARCable Citizens200,000 200,000 200,000 - Florida Keys Children's Shelter185,000 185,000 185,000 - Wesley House157,500 157,500 157,500 - Florida Keys Area Health Education120,000 120,000 120,000 - (Continued) The notes to the financial statements are an integral part of these statements. C-6 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) GENERAL FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) Heron/Peacock43,000 43,000 43,000 - Kids Come First - Florida Keys30,000 30,000 30,000 - Boys and Girls Club115,000 115,000 82,955 32,045 Florida Keys Healthy Start Coalition75,000 75,000 75,000 - Keys Area Interdenominational Resources35,000 35,000 35,000 - Star of the Sea Foundation95,000 95,000 95,000 - Independence Cay28,000 28,000 28,000 - Anchors Aweigh15,000 15,000 15,000 - Southernmost Homeless Assist League10,000 10,000 - 10,000 Baker Act LKMC FS 394.46383,334 83,334 83,333 1 Guidance Care Clinic Baker Act Transp165,000 165,000 156,170 8,830 Guidance Care Clinic/Samuel House-FS 394.76 877,500877,500 877,500 - Guidance Care Clinic Jail In-house Prog151,273 151,273 57,709 93,564 Historic Florida Keys Foundation32,450 32,450 32,450 - Animal Shelters1,466,513 1,572,513 1,571,582 931 Welfare Administration547,594 622,594 669,461 (46,867) Welfare Services893,500 825,500 842,956 (17,456) Health Care Respite Act40,000 3,000 2,105 895 Bayshore Manor916,280 883,280 852,400 30,880 Social Service Transportation932,368 995,368 1,010,954 (15,586) Burton Memorial United Methodist Church15,000 15,000 15,000 - Keys to Be Change50,000 50,000 50,000 - Autism Society of the Keys40,000 40,000 40,000 - Voices for the Florida Keys Children17,000 17,000 17,000 - Kreative Kids11,000 11,000 11,000 - Key West Community Sailing Center7,000 7,000 7,000 - Total Human Services8,102,537 8,208,537 8,110,800 97,737 Culture and Recreation: Fine Arts Council79,900 79,900 79,900 - Lower Keys AARP4,500 4,650 4,609 41 Middle Keys AARP4,500 6,300 4,377 1,923 Big Pine Key AARP4,500 2,550 1,554 996 Upper Keys AARP4,500 4,500 - 4,500 Heart of the Keys Recreation35,000 35,000 35,000 - Higgs Beach Maintenance98,424 98,424 98,328 96 Library Admin Support1,009,283 1,009,283 988,186 21,097 Library Key West889,747 879,247 816,609 62,638 Library Key West Donations50,000 254,101 164,453 89,648 Library Marathon495,014 495,014 472,950 22,064 Library Marathon Donations10,000 13,286 - 13,286 Library Islamorada314,199 314,199 300,336 13,863 (Continued) The notes to the financial statements are an integral part of these statements. C-7 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) GENERAL FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) Culture and Recreation (continued): Library Islamorada Donations2,000 1,842 - 1,842 Library Key Largo410,443 420,943 412,497 8,446 Library Key Largo Donations7,000 7,899 4,393 3,506 Library Big Pine Key386,145 386,145 370,665 15,480 Library Big Pine Key Donations69,281 69,848 - 69,848 Total Culture and Recreation3,874,436 4,083,131 3,753,857 329,274 Court-Related: Law Library23,532 23,161 79,436 (56,275) Guardian Ad Litem225,696 210,696 176,078 34,618 Clerk of the Court-General Mgt143,800 143,800 143,800 - Clerk of the Court-Jury Management32,550 32,550 32,550 - Clerk Records Management33,700 33,700 33,700 - Clerk of the Circuit Court-Criminal252,650 252,650 252,650 - Clerk of the Circuit Court-Civil189,050 189,050 189,050 - Clerk of the Circuit Court-Family72,450 72,450 72,450 - Clerk of the Circuit Court-Juvenile52,450 52,450 52,450 - Clerk of the Circuit Court-Probate53,350 53,350 53,350 - Clerk County Court-Criminal211,700 211,700 211,700 - Clerk County Court-Civil140,900 140,900 140,900 - Clerk County Court-Traffic269,500 269,500 269,500 - State Attorney407,625 407,625 29,382 378,243 Public Defender536,844 536,844 480,911 55,933 Court Administration2,527 2,527 1,401 1,126 Court Admin-Judicial Support179,042 179,042 171,359 7,683 Court Case Management175,881 175,881 166,429 9,452 Court Admin-Circuit Ct Reporter Svcs1,675 1,675 1,555 120 Court Admin-Circuit Drug Court416,756 416,756 234,575 182,181 Court Admin-Pretrial Release539,573 539,573 511,979 27,594 Court Admin-Probationary Services416,573 416,573 384,099 32,474 Ct. Admin-Pretrial Svcs Drug Diversion225,520 225,520 196,953 28,567 Court Admin-Information Systems217,685 217,685 198,342 19,343 Total Court Related4,821,029 4,805,658 4,084,599 721,059 Total Expenditures57,966,641 59,368,179 55,648,450 3,719,729 Excess/Deficiency of Revenues Over (Under) Expenditures(15,174,948) (16,566,062) (7,403,198) 9,162,864 (Continued) The notes to the financial statements are an integral part of these statements. C-8 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) GENERAL FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) Other Financing Sources (Uses): Reserve for Contingencies(1,454,540) (106,500) - 106,500 Reserve for Cash Balance(4,322,552) (4,322,552) - 4,322,552 Transfers from Other Funds9,792,601 9,792,601 8,114,084 (1,678,517) Transfers to Other Funds(1,000,000) (956,926) (310,055) 646,871 Transfers from Constitutional Officers5,000,000 5,000,000 6,818,126 1,818,126 Total Other Financing Sources (Uses)8,015,509 9,406,623 14,622,155 5,215,532 Net Change in Fund Balances (7,159,439)(7,159,439) 7,218,957 14,378,396 Fund Balances-October 1 7,159,4397,159,439 35,788,434 28,628,995 0$ --$ 43,007,391$ 43,007,391$ Fund Balances-September 3 The notes to the financial statements are an integral part of these statements. C-9 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FINE AND FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Taxes53,254,196$ 53,254,196$ 51,428,823$ (1,825,373)$ Intergovernmental- - 71,639 71,639 Charges for Services8,543,000 8,543,000 9,372,439 829,439 Fines and Forfeitures72,500 72,500 100,210 27,710 Investment Income385,000 385,000 98,391 (286,609) Miscellaneous1,000 101,400 124,248 22,848 Total Revenues62,255,696 62,356,096 61,195,750 (1,160,346) EXPENDITURES: Current: General Government: Tax Increment Payment1,250,000 1,250,000 1,229,049 20,951 Total General Government1,250,000 1,250,000 1,229,049 20,951 Public Safety: Sheriff Law Enforcement25,086,828 25,187,228 24,634,901 552,327 Sheriff Corrections 25,851,718 25,851,718 25,465,318 386,400 Bond Refunds25,000 25,000 - 25,000 Law Enforcement Education Assistance75,000 75,000 75,000 - Correction Facilities2,900,526 3,110,526 2,748,075 362,451 Medical Air Transport8,252,835 8,252,835 8,220,715 32,120 Interagency Communications747,354 747,354 741,834 5,520 Juvenile Detention Cost Share235,200 235,200 67,859 167,341 Total Public Safety63,174,461 63,484,861 61,953,702 1,531,159 Court-Related: Sheriff Extradition80,000 250,000 249,774 226 Sheriff Court Security2,219,145 2,219,145 2,172,776 46,369 Total Court Related2,299,145 2,469,145 2,422,550 46,595 Total Expenditures66,723,606 67,204,006 65,605,301 1,598,705 Excess/Deficiency of Revenues Over (Under) Expenditures(4,467,910) (4,847,910) (4,409,551) 438,359 (Continued) The notes to the financial statements are an integral part of these statements. C-10 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) Other Financing Sources (Uses): Reserve for Contingencies(200,000) (1,120,000) - 1,120,000 Reserve for Cash Balance(4,878,459) (4,878,459) - 4,878,459 Transfers from Other Funds- - 36,566 36,566 Transfers to Other Funds(33,334) (33,334) (11,944) 21,390 Transfers from Constitutional Officers1,500,000 1,500,000 1,456,828 (43,172) Total Other Financing Sources (Uses)(3,611,793) (4,531,793) 1,481,450 6,013,243 Net Change in Fund Balances (9,379,703)(8,079,703) (2,928,101) 6,451,602 Fund Balances-October 1 9,379,7038,079,703 19,499,623 10,119,920 Fund Balances-September 30$ --$ 16,571,522$ 16,571,522$ The notes to the financial statements are an integral part of these statements. C-11 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL GOVERNMENTAL GRANTS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) Revenues: Intergovernmental-$ 71,270,473$ 20,859,591$ (50,410,882)$ Charges for Services- 163,646 161,782 (1,864) Investment Income- 1,681 5,223 3,542 Miscellaneous- 478,007 28,120 (449,887) Total Revenues- 71,913,807 21,054,716 (50,859,091) Expenditures: Current: Public Safety: Hurricane Irma Recovery- 15,539,556 3,225,604 12,313,952 Emergency Disaster Relief - COVID-19- 1,901,826 93,088 1,808,738 Emergency Management Base Grant- 313,368 163,326 150,042 Radiological Emerg. Preparedness- 163,646 131,740 31,906 Emergency Medical Services Award Grant- 103,673 59,754 43,919 Urban Area Security Initiative Grants- 386,236 80,261 305,975 Total Public Safety- 18,408,305 3,753,773 14,654,532 Physical Environment: Canal Restoration Projects- 2,279,107 597,119 1,681,988 Flood Control Program- 15,000,000 517,599 14,482,401 Florida Keys Res Assur Plan- 1,662,560 709,559 953,001 EPA Florida Keys Improve Water Quality- 27,068 1,556 25,512 DEP Mobile Vessels- 2,018,570 1,783,379 235,191 Total Physical Environment- 20,987,305 3,609,212 17,378,093 Transportation: Scenic Highway Overlooks- 170,770 - 170,770 Roadway Projects- 4,673,126 1,056,869 3,616,257 Transportation Planning Prog 2012- 992,422 539,727 452,695 Pigeon Key Ferry Service- 586,987 273,830 313,157 Total Transportation- 6,423,305 1,870,426 4,552,879 (Continued) The notes to the financial statements are an integral part of these statements. C-12 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) GOVERNMENTAL GRANTS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) Economic Environment: Small Cities CDBG- 120,032 8,844 111,188 CARES COVID-19 Funding- 19,099,290 6,615,824 12,483,466 Disaster Recovery CDBG- 201,640 23,220 178,420 Total Economic Environment- 19,420,962 6,647,888 12,773,074 Human Services: Pandemic Financial Assistance- 195,111 60,591 134,520 Nutritional Services In Progress- 250,650 47,775 202,875 Title III-B Supportive Services- 182,076 205,974 (23,898) Title III-C1 Congregate Meals- 271,358 18,558 252,800 Title III-C2 Home Delivered Meals- 103,304 38,348 64,956 Title III-E Caregiver Support Services- 251,856 176,204 75,652 Low Income Home Energy Program- 628,090 331,906 296,184 Alzheimer's Disease Initiative- 159,101 85,235 73,866 Community Care Disabled Adults - 23,763 15,123 8,640 Weatherization Assistance Program (WAP)- 275,699 35,790 239,909 Drug Court Medical Director Initiative- 43,872 4,150 39,722 Older Americans Act- 257,453 210,013 47,440 Total Human Services- 2,642,333 1,229,667 1,412,666 Culture and Recreation: State Aid to Libraries- 55,347 47,726 7,621 Historic Monroe County Jail- 494,550 414,082 80,468 Harry Harris Park Boat Ramp- 10,844 - 10,844 Pigeon Key Commissary- 482,550 482,550 - Lower Keys Scenic VW Area- 899,918 933,803 (33,885) Total Culture and Recreation- 1,943,209 1,878,161 65,048 Total Expenditures- 69,825,419 18,989,127 50,836,292 (Continued) The notes to the financial statements are an integral part of these statements. C-13 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) GOVERNMENTAL GRANTS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) Excess/Deficiency of Revenues Over (Under) Expenditures- 2,088,388 2,065,589 (22,799) Other Financing Sources (Uses): Transfers from Other Funds- 3,029,938 858,839 (2,171,099) Transfers to Other Funds- (5,118,326) (10,820,765) (5,702,439) Total Other Financing Sources (Uses)- (2,088,388) (9,961,926) (7,873,538) Net Change in Fund Balances -- (7,896,337) (7,896,337) Fund Balances-October 1 -- 3,273,855 3,273,855 Fund Balances-September 30$ --$ (4,622,482)$ (4,622,482)$ The notes to the financial statements are an integral part of these statements. C-14 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF NET POSITION PROPRIETARY FUNDS SEPTEMBER 30, 2021 Business-Type Activities Enterprise Funds Major Funds MunicipalCardKey Service DistrictSoundWest WasteBridgeAirport ASSETS Current Assets: Cash and Cash Equivalents $ 627,3392,667,095$ 1,999,937$ Investments 3,957,83813,240,828 9,828,211 Accounts Receivable, Net -189,072 745,166 Due from Other Funds 5,5866,026 2,141 Due from Other Governmental Units 49,534441,630 4,542,064 Due from Constitutional Officers -4,210 198,329 Interest Receivable 7,02024,357 19,877 Total Current Assets 4,647,31716,573,218 17,335,725 Noncurrent Assets: Restricted Cash and Cash Equivalents -- 4,574,038 Restricted Accounts Receivable -- 407,221 Land and Other Nondepreciable Assets 59,5993,629,620 13,337,479 Capital Assets, Net of Accum. Depreciation 8,790,8861,930,072 88,015,837 Total Noncurrent Assets 8,850,4855,559,692 106,334,575 Total Assets 13,497,80222,132,910 123,670,300 DEFERRED OUTFLOWS OF RESOURCES Related to Pensions 67,910210,490 984,936 Related to OPEB 29,70074,400 108,100 Total Deferred Outflows of Resources 97,610284,890 1,093,036 LIABILITIES Current Liabilities: Accounts Payable 3,862840,285 1,490,650 Retainage Payable -- 1,138,191 Accrued Wages and Benefits Payable 20,24753,168 168,673 Claims and Judgments Payable -- - Due to Other Funds -- - Due to Other Governmental Units -- 73,167 Due to Constitutional Officers -- - Revenue Bonds Payable -- 748,000 Accrued Comp. Absences Payable 4,62217,854 88,362 Unearned Revenues -- 19,757 Other Current Liabilities -129,632 - Deposits in Escrow -61,365 8,000 Total Current Liabilities 28,7311,102,304 3,734,800 The notes to the financial statements are an integral part of these statements. C-15 Governmental Major FundsActivities Internal MarathonService AirportTotalFunds $ 5,360,65266,281$ 3,349,777$ 27,801,172774,295 23,753,287 1,063,265129,027 58,834 24,49010,737 52,365 7,793,7122,760,484 113,091 203,115576 262,776 52,5411,287 41,472 42,298,9473,742,687 27,631,602 4,742,857168,819 - 407,221- - 22,861,2505,834,552 54,000 111,505,18412,768,389 648,092 139,516,51218,771,760 702,092 181,815,45922,514,447 28,333,694 1,340,72477,388 670,436 257,10044,900 125,100 1,597,824122,288 795,536 3,269,693934,896 965,371 1,216,53278,341 - 260,14118,053 147,736 -- 3,447,859 -- 551 82,7849,617 - -- 1,063 748,000- - 116,8406,002 49,142 44,15724,400 3,723 129,632- - 75,6716,306 - 5,943,4501,077,615 4,615,445 (Continued) C-16 S MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONER STATEMENT OF NET POSITION (CONTINUED) PROPRIETARY FUNDS SEPTEMBER 30, 2021 Business-Type Activities Enterprise Funds Major Funds MunicipalCardKey Service DistrictSoundWest WasteBridgeAirport Noncurrent Liabilities: Accrued Comp. Absences Payable$ 18,48771,415$ 353,447$ OPEB Liability 168,000225,000 597,000 Net Pension Liability 463,810698,806 1,583,601 Total Noncurrent Liabilities 650,297995,221 2,534,048 Total Liabilities 679,0282,097,525 6,268,848 DEFERRED INFLOWS OF RESOURCES Related to Pensions 146,036448,392 2,353,843 Related to OPEB 6,10015,200 22,100 Total Deferred Inflows of Resources 152,136463,592 2,375,943 NET POSITION Investment in Capital Assets 8,850,4855,559,692 101,353,316 Restricted for: Passenger Facility Charges -- 4,981,259 Customs Service Operations -- - Unrestricted 3,913,76314,296,991 9,783,970 Total Net Position $ 12,764,24819,856,683$ 116,118,545$ The notes to the financial statements are an integral part of these statements. C-17 Governmental Major FundsActivities Internal MarathonService AirportTotalFunds $ 467,35924,010$ 196,566$ 1,024,00034,000 382,000 2,969,559223,342 350,365 4,460,918281,352 928,931 10,404,3681,358,967 5,544,376 3,114,756166,485 1,488,595 52,6009,200 25,600 3,167,356175,685 1,514,195 134,366,43418,602,941 702,092 4,981,259- - 168,819168,819 - 30,325,0472,330,323 21,368,567 $ 169,841,55921,102,083$ 22,070,659$ C-18 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2021 Business-Type Activities Enterprise Funds Major Funds MunicipalCardKey Service DistrictSoundWest WasteBridgeAirport Operating Revenues: Franchise Fees573,418$ -$ -$ Charges for Services21,085,573 2,110,105 11,290,800 Intergovernmental Revenue- - 124,899 Miscellaneous51,341 - 5,566 Total Operating Revenues21,710,332 2,110,105 11,421,265 Operating Expenses: Personnel Services966,595 293,288 3,089,416 Operations19,288,580 336,727 10,961,995 Depreciation and Amortization184,901 401,766 2,484,585 Asserted and Paid Claims- - - Total Operating Expenses20,440,076 1,031,781 16,535,996 Operating Income (Loss)1,270,256 1,078,324 (5,114,731) Nonoperating Revenues (Expenses): Operating Grants128,900 - 18,151,905 Grants and Donations - Other Sources- - 5,000 Settlements- - 150,000 Investment Income44,170 7,852 27,063 Gain on Disposition of Assets16,542 - 14,306 Total Non-Operating Revenues (Expenses)189,612 7,852 18,348,274 Income (Loss) Before Transfers1,459,868 1,086,176 13,233,543 Total Capital Contributions and Transfers: Capital Contributions- - 6,662,404 Transfers from Other Funds6,026 5,586 - Transfers to Other Funds(554,110) (79,776) (480,239) Transfers from Constitutional Officers4,205 - - Total Capital Contributions and Transfers(543,879) (74,190) 6,182,165 Change in Net Position 1,011,986915,989 19,415,708 Net Position-October 1, as previously reported 11,752,26218,940,694 104,084,180 Restatement - Prior Period Adjustment- - (7,381,343) Net Position-October 1, restated18,940,694 11,752,262 96,702,837 Net Position-September 30$ 12,764,24819,856,683$ 116,118,545$ The notes to the financial statements are an integral part of these statements. C-19 Governmental Major Funds Activities Internal MarathonService AirportTotalFunds $ 573,418-$ -$ 35,783,2021,296,724 29,454,616 124,899- - 88,05531,148 794,777 36,569,5741,327,872 30,249,393 4,517,637168,338 2,279,520 31,463,264875,962 7,121,675 3,697,226625,974 87,147 -- 19,991,536 39,678,1271,670,274 29,479,878 (3,108,553)(342,402) 769,515 24,088,4865,807,681 4,370 165,209160,209 - 150,000- - 84,6375,552 68,907 34,8253,977 - 24,523,1575,977,419 73,277 21,414,6045,635,017 842,792 6,662,404- - 22,34910,737 52,365 (1,251,510)(137,385) (261,656) 4,205- - 5,437,448(126,648) (209,291) 26,852,0525,508,369 633,501 150,370,85015,593,714 21,437,158 (7,381,343)- - 142,989,50715,593,714 21,437,158 $ 169,841,55921,102,083$ 22,070,659$ C-20 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF CASH FLOWS PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2021 Business-Type Activities Enterprise Funds Major Funds MunicipalCardKey Service DistrictSoundWest WasteBridgeAirport Operating Activities: Cash Received for Services21,579,376$ 2,155,423$ 11,198,407$ Cash Received from Others- - 150,000 Cash Payments to Suppliers for Goods and Services(19,787,876) (333,288) (10,782,255) Cash Payments for Employee Services(1,133,311) (324,733) (3,326,670) Cash Payments for Claims(129,632) - - Cash Received from (Paid to) Other Sources(57,550) (55,120) (321,800) Other Miscellaneous Revenue27,148 (6,994) (14,275) Net Cash Provided by (Used in) Operating Activities498,155 1,435,288 (3,096,593) Noncapital Financing Activities: Operating Grants Received128,900 - 18,151,905 Transfers from Other Funds6,026 5,586 - Transfers to Other Funds(554,110) (79,776) (480,239) Transfers from Constitutional Officers4,205 - - Net Cash Provided by (Used in) Noncapital Financing Activities(414,979) (74,190) 17,671,666 Capital and Related Financing Activities: Proceeds from Capital Grants- - 6,662,404 Acquisition of Capital Assets(12,764) (5,786) (15,068,684) Proceeds from sale of capital assets16,542 - 14,306 Net Cash Provided by (Used in) Capital and Related Financing Activities3,778 (5,786) (8,391,974) Investing Activities: Investment Income44,170 7,852 27,063 Proceeds from Sales and Maturities of Investments13,956,229 1,799,168 179,993 Purchase of Investment Securities(12,633,910) (3,035,185) (6,200,351) Net Cash Provided by (Used in) Investing Activities1,366,489 (1,228,165) (5,993,295) Net Increase (Decrease) in Cash and Cash Equivalents 127,1471,453,443 189,804 Cash and Cash Equivalents: October 11,213,652 500,192 6,384,171 September 302,667,095$ 627,339$ 6,573,975$ The notes to the financial statements are an integral part of these statements. C-21 Governmental Major Funds Activities Internal MarathonService AirportTotalFunds $ 36,181,0341,247,828$ 29,463,922$ 150,000- - (30,795,545)107,874 (8,062,248) (5,157,522)(372,808) (2,883,815) (129,632)- (19,926,598) (3,083,276)(2,648,806) (827,850) 35,75829,879 753,745 (2,799,183)(1,636,033) (1,482,844) 24,248,6955,967,890 4,370 22,34910,737 52,365 (1,251,510)(137,385) (261,656) 4,205- - 23,023,7395,841,242 (204,921) 6,662,404- - (20,183,509)(5,096,275) (40,976) 30,848- - (13,490,257)(5,096,275) (40,976) 84,6375,552 68,907 17,638,3531,702,963 22,305,098 (22,885,321)(1,015,875) (21,811,091) (5,162,331)692,640 562,914 1,571,968(198,426) (1,165,827) 8,531,541433,526 4,515,604 $ 10,103,509235,100$ 3,349,777$ (Continued) C-22 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF CASH FLOWS (CONTINUED) PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2021 Business-Type Activities Enterprise Funds Major Funds MunicipalCardKey Service DistrictSoundWest WasteBridgeAirport Reconciliation of Operating Income (Loss) to Net Cash Provided by (Used in) Operating Activities: Operating Income (Loss)1,270,256$ 1,078,324$ (5,114,731)$ Adjustments to Reconcile Operating Income (Loss) to Net Cash Provided by (Used in) Operating Activities: Depreciation and Amortization184,901 401,766 2,484,585 Nonoperating Income-PFC- - 150,000 Change in Assets, Liabilities, and Deferrals: (Increase) Decrease in Accounts Receivable(79,615) 45,318 (199,088) (Increase) Decrease in Due from Other Funds(6,026) (5,586) (2,141) (Increase) Decrease in Due from Other Gov't Units(30,986) (49,534) (460,528) (Increase) Decrease in Due from Constitutional Ofcr -(516) 86,165 (Increase) Decrease in Interest Receivable(24,193) (6,994) (19,841) Increase (Decrease) in Accounts Payable(499,796) 3,439 (1,083,405) Increase (Decrease) in Retainage Payable- - 515,145 Increase (Decrease) in Accrued Wages/Benefits 42,996 18,385 135,406 Increase (Decrease) in Claims/Judgments Payable(129,632) - - Increase (Decrease) in Due to Other Funds- - - Increase (Decrease) in Due to Other Gov't Units(19,491) - 54,704 Increase (Decrease) in Due to Constitutional Ofcrs(531) - - Increase (Decrease) in Comp. Absences Payable(4,645) (26,943) (17,722) Increase (Decrease) in Deposits in Escrow500 - - Increase (Decrease) in Revenue Notes Payable- - 748,000 Increase (Decrease) in Unearned Revenue- - (18,204) Increase (Decrease) in OPEB Liability8,000 (8,000) 40,000 Increase (Decrease) in Pension Liability(572,319) (186,675) (3,055,358) Increase (Decrease) in Deferred Outflows104,323 35,784 651,787 Increase (Decrease) in Deferred Inflows254,929 136,004 2,008,633 Total Adjustments(772,101) 356,964 2,018,138 Net Cash Provided by (Used in) Operating Activities498,155$ 1,435,288$ (3,096,593)$ Noncash Investing, Capital, and Financing Activities: Increase (Decrease) in Revenues Notes Payable-$ -$ 748,000$ Gain on Disposition of Assets16,542 - 14,306 Noncash Investing, Capital, and Financing Activities$ -16,542$ 762,306$ Cash Reconciliation: Unrestricted2,667,095$ 627,339$ 1,999,937$ Restricted- - 4,574,038 Total2,667,095$ 627,339$ 6,573,975$ The notes to the financial statements are an integral part of these statements. C-23 Governmental Major Funds Activities Internal MarathonService AirportTotalFunds $ (3,108,553)(342,402)$ 769,515$ 3,697,226625,974 87,147 150,000- - (306,681)(73,296) 9,306 63,01076,763 (52,365) (3,271,396)(2,730,348) 31,167 85,073(576) (184,346) (52,297)(1,269) (41,032) (674,267)905,495 (944,296) 593,48678,341 - 211,02714,240 118,458 (129,632)- 64,938 -- (616,388) 40,5685,355 (5,918) (531)- - (46,726)2,584 (105,959) 500- - 748,000- - 6,19624,400 3,723 45,0005,000 32,000 (4,027,177)(212,825) (1,912,056) 813,12321,229 186,124 2,364,868(34,698) 1,077,138 309,370(1,293,631) (2,252,359) $ (2,799,183)(1,636,033)$ (1,482,844)$ $ 748,000-$ -$ 34,8253,977 - $ 782,8253,977$ -$ $ 5,360,65266,281$ 3,349,777$ 4,742,857168,819 - $ 10,103,509235,100$ 3,349,777$ C-24 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 1 Î SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following summary of the more significant accounting policies of the Monroe County, Florida Board of County Commissioners (the ÐBoardÑ) 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 (the ÐCountyÑ) is a Non-Charter County established as provided by Article VIII Section 1 of the Florida Constitution and Chapter 125, Florida Statutes. The primary government of the County is comprised of the Board of County Commissioners and five Ðconstitutional officersÑ: Clerk of the Circuit Court & Comptroller (the ÐClerkÑ), Property Appraiser, Sheriff, Supervisor of Elections, and Tax Collector. Entity status for financial reporting purposes is governed by Statement No. 14, as amended, of the Governmental Accounting Standards Board (ÐGASBÑ) 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 (ÐGAAPÑ) for governmental entities. The financial statements of the Board, when combined with all of its blended component units and the constitutional officers, constitute the Ðprimary governmentÑ of Monroe County according to GAAP. The primary government constitutes the complete GAAP basis financial reporting entity of the County, presented in the Monroe County, Florida Annual Comprehensive Financial Report. Since this report excludes the constitutional officers, these Board financial statements do not purport to reflect the financial position or the results of operations of Monroe County, Florida taken as a whole. Rather, they have been prepared to provide information at this level of detail greater than what is available in the CountyÓs financial statements. The Board, composed of five members, is the legislative body for Monroe County and, as such, budgets and provides the funding used by the separate Constitutional Offices with the exception of fees collected by the Clerk and the Tax Collector. Under the direction of the Clerk, the Monroe County Finance Department maintains the accounting system for the Board's operations, excluding those of the Clerk, Property Appraiser, Sheriff, Supervisor of Elections, and Tax Collector, each of which maintains its own respective accounting system. Services provided by the Board 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. These financial statements include all funds of the Board and its blended component units, if material. ÐComponent unitsÑ are legally separate entities for which operational or financial responsibility rests with the Board or for which the nature and significance of their relationship to the Board is such that exclusion would cause the financial statements to be misleading or incomplete. D-1 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 1 Î SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Blended component units are legally separate entities that are, in substance, part of the BoardÓs operation, as they either have governing bodies that are substantively the same as the Board or they provide their services exclusively, or almost exclusively, to the Board. The financial transactions of the component unit are merged with similar transactions of the Board as part of the primary government. The blended component unit of the Board is as follows: Monroe County Industrial Development Authority (ÐMCIDAÑ) Î The MCIDA was created by Monroe County, Florida Resolution, pursuant to Chapter 159, Florida Statutes. The MCIDA serves to assist in financing and refinancing capital projects, which will foster economic development in the County. The Board serves as the governing board and MCIDA provides services within the County. Therefore, the MCIDA, for financial reporting purposes, is considered a blended component unit of Monroe County, Florida. The MCIDA is not legally required to adopt a budget; however, the Board must authorize the issuance of bonded debt. Neither the MCIDA nor the Board has any legal obligation for repayment of the revenue bonds of the MCIDA. As an issuer of ÐconduitÑ 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 separately issued financial statements to emphasize their legal separation from the Board. The following is a discretely presented component unit of the Board: Monroe County, Florida Comprehensive Plan Land Authority (ÐMCLAÑ) Î The MCLA was created by Monroe County, Florida Ordinance 031-1986 pursuant to Chapter 380, Florida Statutes and is considered a legally separate entity from Monroe County. The objectives of the entity are to operate a land acquisition program in Monroe County, implement the Monroe County Comprehensive Plan and address issues created by it. The Board serves as the governing board; however, 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 in a separate section of the CountyÓs financial statements. Complete financial statements for MCLA can be obtained from MCLAÓs administrative office at 1200 Truman Avenue, Suite 207, Key West, Florida 33040. Basis of Presentation: The BoardÓs financial statements are prepared in accordance with Chapter 10.550, Rules of the Auditor General Î Local Governmental Entity Audits (the ÐRulesÑ), which do not require separate financial statements for the Board but specify certain requirements if such financial statements are presented. Requirements include presentation of fund-level and component unit financial statements. Government- wide financial statements, related disclosures and managementÓs discussion and analysis are not required by the Rules and are not presented. As such, these statements present information about the BoardÓs funds, but do not present a complete presentation of the BoardÓs financial position and changes in financial position. Separate columns are presented for each major governmental fund and for each major enterprise fund. D-2 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 1 Î SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) The following are reported as major governmental funds: General Fund Î The General Fund is the general operating fund of the Board. 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 Î 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 CountyÓs court system. Governmental Grants Special Revenue Fund Î The Governmental Grant Fund is used to account for operating revenues and expenditures for governmental activity of federal and state grants. One Cent Infrastructure Surtax Capital Project Fund Î 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 Î 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 Î 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 Î 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. The following are reported as major enterprise funds: Municipal Service District Waste Î The Municipal Service District Waste Fund is used to account for the operations of solid waste collection, disposal, and recycling activities. Card Sound Bridge Î The Card Sound Bridge Fund is used to account for the operations of Monroe CountyÓs Card Sound Toll Bridge. Key West Airport Î The Key West Airport Fund is used to account for the operations of Monroe CountyÓs Key West International Airport. Marathon Airport Î The Marathon Airport Fund is used to account for the operations of Monroe CountyÓs Florida Keys Marathon International Airport. D-3 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 1 Î SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) The Board also reports the following fund types: Internal Service Funds Î Internal service funds are used to account for the financing of workersÓ compensation insurance, health insurance, general liability insurance, and fleet maintenance services provided by one department to other departments of the Board or to other governmental units on a cost reimbursement basis. Measurement Focus and Basis of Accounting: Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized when they become susceptible to accrual; that is, when they become both ÐmeasurableÑ and ÐavailableÑ to finance expenditures of the current period. The Board 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. In addition, expenditures related to compensated absences are recorded only when leave has been taken. Revenues of the Board, which are susceptible to accrual under the modified accrual basis of accounting, include property taxes, gas taxes, sales taxes, interest revenue, and charges for services. In applying the susceptibility-to-accrual concept to intergovernmental revenues, the legal and contractual requirements of the numerous individual programs are used as guidance. There are, however, essentially two types of these revenues. In one type, monies must be expended for the specific purpose or project before any amounts will be paid to the Board; therefore, revenues are recognized based upon the expenditures recorded. In the other type, monies are virtually unrestricted as to purpose of expenditure and substantially irrevocable; i.e., revocable only for failure to comply with prescribed compliance requirements, such as with equal employment opportunity. These resources are reflected as revenues at the time of receipt or earlier if they meet the availability criterion. If revenues are expected to be received later than 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. The proprietary fund 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. Non-exchange transactions, in which the Board gives (or receives) value without directly receiving (or giving) equal value in exchange, include grants. On an accrual basis, revenue from grants is recognized in the fiscal year in which all eligibility requirements have been satisfied. D-4 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 1 Î SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) The Board has chosen to fund the Volunteer Firefighter and Emergency Medical Services Length of Service Award Pension Plan (ÐLOSAPÑ) on a pay-as-you-go basis. Pension expenditures are made from the General Fund, which is maintained on a modified accrual basis of accounting. Benefits and refunds are recognized when due and payable in accordance with the terms of the LOSAP Plan. The LOSAP has no assets accumulated in a trust that meets the following criteria, outlined in GASB Statement Nos. 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 fundÓs principal ongoing operations. The principal operating revenues of the BoardÓs 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. 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 Property Appraiser, the Tax Collector, and the Supervisor of Elections shall each submit to the Board a tentative budget for their respective offices for the ensuing fiscal year. 2) Within fifteen days after certification of the ad valorem tax roll by the Property Appraiser, the County 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 Section 129.03, Florida Statutes. All funds have legally adopted budgets. D-5 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 1 Î SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 6) Throughout the fiscal 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. 7) Chapter 129, Section VII, Florida Statutes 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. Actual results could differ from these estimates, particularly given the significant social and economic disruptions and uncertainties associated with the ongoing coronavirus pandemic (ÐCOVID- 19Ñ) and the COVID-19 control responses. Encumbrances: Encumbrance accounting, under which purchase orders, contracts and other commitments for the expenditure of moneys are recorded as assigned fund balance 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 BoardÓs intention is to substantially honor these encumbrances under authority provided in the subsequent yearÓs 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 participantsÓ equity in the investment pools are classified as cash equivalents for purposes of these statements. For investments, held separately from the pools, and are highly liquid (including restricted assets) with an original or remaining maturity of 90 days or less, are considered cash equivalents. D-6 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 1 Î SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Investments: Section 218.415, Florida Statutes, authorizes local governments to invest its funds pursuant to a written investment plan. Monroe CountyÓs written plan allows investment of surplus funds in the following: 1) U.S. Treasury & Government Guaranteed Î 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. 2) Federal Agency/Government Sponsored Enterprise (ÐGSEÑ) Î Debt obligations, participations or other instruments issued or fully guaranteed by any U.S. Federal agency, instrumentality or GSE. 3) Supranationals Î U.S. dollar denominated debt obligations of a multilateral organization of governments where the U.S. is a shareholder and voting member. 4) Corporates Î 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 Î 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 (ÐMBSÑ) Î 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 (ÐCMOsÑ) and real estate mortgage investment conduits. 7) Asset-Backed Securities Î Asset-backed securities (ÐABSÑ) 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 Î 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 Î 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) BankersÓ Acceptances Î BankersÓ acceptances issued, drawn on, or guaranteed by a U.S. bank or U.S. branch of a foreign bank. D-7 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 1 Î SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 11) Repurchase Agreements Î Repurchase agreements that meet specific requirements listed in Monroe County Resolution 032-2019. 12)Money Market Funds Î 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 Î 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. Accounts Receivable: Amounts due from private individuals, organizations, or other governments, which pertain to charges for services rendered by Board departments, 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: As part of its normal operations, the Board performs transactions between funds. Examples of these transactions include providing services, constructing assets, matching grants or servicing debt. These transactions are generally recorded as interfund transfers, except for internal service fund charges, which are reflected as revenues to internal service funds and expenses/expenditures to the funds receiving the services. Additionally, short-term interfund loans are recorded as cash flow needs arise. As of fiscal year-end, any unpaid amounts related to these transactions are reported as Ðdue from other fundsÑ or Ðdue to other fundsÑ on the fund financial statements. Interfund balances and transfers are consolidated for government-wide financial reporting, and residual balances between governmental activities and business-type activities, if any, are reported on the government-wide statements of the County. 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. D-8 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 1 Î SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Capital Assets: Capital assets of the Board 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 cost at the date of donation. Capital assets associated with business-type activities and the internal service funds are presented in the BoardÓs basic financial statements. Capital assets associated with the BoardÓs governmental activities are presented on the government-wide financial statements of the County, rather than on the financial statements of the Board. The Board 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. Compensated Absences: Board policy permits employees to accumulate a limited amount of annual and sick leave, which will be paid to employees upon termination of employment. Accumulated annual and sick leave is accrued when earned in the proprietary fund financial statements. For the proprietary funds, an expense and a liability are recorded as the leave is earned. Compensated absences associated with the BoardÓs governmental activities are presented on the government-wide financial statements of the County, rather than on the financial statements of the Board. D-9 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 1 Î SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Restricted Assets: The use of certain assets of enterprise funds is restricted by specific provisions of 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, followed by 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. Deferred Inflows of Resources: Deferred inflows of resources represent 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 Board 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 report deferred inflows for pension-related and other post-employment benefit items as actuarially determined. Deferred Outflows of Resources: Deferred outflows of resources represent a consumption 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 obligations are reported as a liability in the proprietary fund statement of net position. Long- term debt associated with the BoardÓs governmental activities is presented on the government-wide financial statements of the County, rather than on the financial statements of the Board. In the BoardÓs 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 1st of each year. No accrual for the property tax levy becoming due in November of 2021 is included in the accompanying financial statements, since such taxes are collected to finance expenditures of the subsequent period. D-10 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 1 Î 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 Î 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 Î 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 Î 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 CountyÓs 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 Î 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 BoardÓs policy authorizes the County Administrator to assign fund balance based on intentions for use of fund balance communicated by the Board. Unassigned Î 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 FundÓs 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). D-11 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 1 Î SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) The BoardÓs 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 Board spends restricted amounts first, when both restricted and unrestricted fund balance is available, unless prohibited by legal documents, grant agreements or contracts. Additionally, the Board 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 Board adopts an annual budget for the General Fund at their September meeting preceding the fiscal year end. All annual appropriations lapse at the fiscal year end. Mid-year and year-end amendments are made to the budget as necessary. The budget is prepared and controlled at the cost center level. The BoardÓs budget for the General Fund is prepared under a budgetary basis and adjustments necessary to convert the results of operations to the modified accrual basis of accounting are made at year-end if necessary. General Fund actual expenses exceeded budget primarily due to outsourced contract services for engineering and project management and offset by direct personnel services that were less than budgeted. Fund Balance: The Board reported one fund with a deficit at September 30, 2021: ($4,622,482) in the Governmental Grants Fund. On September 10, 2017, Monroe County experienced a damaging hurricane. The hurricaneÓs recovery efforts resulted in the reported fund deficit because the Board has not yet received all reimbursement due for the CountyÓs clean-up from the Federal Emergency Management Agency. 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 $5,150,078 indicates constraints on resources that are either externally imposed by creditors, grantors, contributors, or laws or regulations of other governments or imposed by law through state statute. D-12 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 2 Î CASH, CASH EQUIVALENTS, AND INVESTMENTS The Board maintains a cash and investment pool available for use by all funds except those whose cash and investments must be segregated due to bond covenants or other legal restrictions. As of September 30, 2021, the carrying value of the BoardÓs deposits and investments, with their respective credit ratings, are as follows: Valuation 6 Months Measurement FairLess thanto1 to 5Over 5 Investment TypeMethodValue6 Months1 YearYearsYears Demand DepositsN/A50,531,690$ 50,531,690$ $ - $ - $ - FL CLASS InvestmentsAmortized Cost30,824,719 30,824,719 - - - FL PALM & FL PALM Term PooledAmortized Cost54,237,989 54,237,989 - - - Asset-Backed Security (ABS)Fair Value - Level 29,038,643 - 18,762 9,019,881 - Corporate NoteFair Value - Level 236,161,922 3,472,827 4,852,991 27,836,104 - Commercial PaperFair Value - Level 338,800,599 21,472,333 17,328,266 - - Federal Agency (FHLMC)Fair Value - Level 23,492,297 - - 3,492,297 Federal Agency Collateralized Mortgage Obligation (CMO) Fair Value - Level 24,501,751 1,017,819 977,086 2,506,846 - Federal Agency Mortgage-Backed Security (MBS)Fair Value - Level 26,693,479 - - 848,797 5,844,682 49,298,801 U.S. TreasuryFair Value - Level 2 19,138,895 1,515,703 28,644,203 - Total Fair Value $ 283,581,890 $ 180,696,272 $ 24,692,808 $ 72,348,128 $ 5,844,682 The Board 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 1 inputs are unadjusted quoted prices in active markets for identical assets. Level 2 inputs are either directly or indirectly observable for an asset (including quoted prices for similar assets), which may include inputs in markets that are not considered active. Level 3 inputs securities are significant unobservable inputs. Securities classified in Level 2 are evaluated prices from the custodian bankÓs primary external pricing vendors. The pricing methodology involves the use of evaluation models such as matrix pricing which is based on the securitiesÓ relationship to benchmark quoted prices. Other evaluation models use actual trade data, collateral attributes, broker bids, new issue pricings and other observable market information. 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 Î The Board approved and adopted its Investment Policy (ÐPolicyÑ) 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. D-13 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 2 Î CASH, CASH EQUIVALENTS, AND INVESTMENTS (continued) 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. Portfolio Per Issuer Investment Maximum Maximum Minimum Ratings Maximum 1 Type (%) (%) Requirement Maturity U.S. Treasury 100% 5.50 Years (5.50 Years GNMA 40% 100% N/A 4 avg. life Other U.S. Government for GNMA) 10% Guaranteed (e.g. AID, GTC) Federal Agency/GSE: 3 FNMA, FHLMC, 40% 5 FHLB, FFCB 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 2 Corporates 50% 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, or equivalent) Agency Mortgage-Backed 5.50 Years 3 25% 40% N/A 4 Securities (MBS) Avg. Life Asset-Backed Securities Highest ST or LT Rating 5.50 Years 25% 5% 4 (ABS) (A-1+/P-1, AAA/Aaa, or equivalent) Avg. Life Non-Negotiable None, if fully Collateralized Bank Deposits 50% None, if fully collateralized. 2 Years collateralized or Savings Accounts Highest ST Rating Category 2 Commercial Paper (CP) 50% 5% 270 Days (A-1/P-1, or equivalent) Highest ST Rating Category 2 BankersÓ Acceptances (BAs) 10% 5% 180 Days (A-1/P-1, or equivalent) Counterparty (or if the counterparty is not rated by an NRSRO, then the counterpartyÓs parent) must be rated in Repurchase Agreements 40% 20% the Highest ST Rating Category 1 Year (Repo or RP) (A-1/P-1, or equivalent) If the counterparty is a Federal Reserve Bank, no rating is required D-14 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 2 Î CASH, CASH EQUIVALENTS, AND INVESTMENTS (continued) Portfolio Per Issuer Investment Maximum Maximum Minimum Ratings Maximum 1 Type (%) (%) Requirement Maturity Highest Fund Rating by all NRSROs Money Market Funds 50% 25% who rate the fund N/A (MMFs) (AAAm/Aaa-mf, or equivalent) Highest Fund Quality and Volatility Intergovernmental Pools Rating Categories by all NRSROs 50% 25% N/A (LGIPs) who rate the LGIP, (AAAm/AAAf, S1, or equivalent) Florida Local Government Highest Fund Rating by all NRSROs Surplus Funds Trust Funds 25% N/A N/A who rate the fund (ÐFlorida PrimeÑ) (AAAm/Aaa-mf, or equivalent) Notes: 1 Rating by at least one SEC-registered Nationally Recognized Statistical Rating Organization (ÐNRSROÑ), 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. 5 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, 2021, the portion of the BoardÓs investment portfolio invested in Federal instrumentalities is detailed as follows: Percent of Investment Issue Portfolio Federal Agency Mortgage-Backed Security (MBS) 2.87% Federal Agency Collateralized Mortgage Obligations (CMO) 1.93% Federal Home Loan Mortgage Corporation (FHLMC) 1.50% Custodial Credit Risk Î 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. D-15 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 2 Î 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 BoardÓs name. As of September 30, 2021, all of the BoardÓs investments are held in a bankÓs trust department in the BoardÓs name. Interest Rate Risk Î 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 Î The Board has the following unrestricted and restricted cash and cash equivalents at September 30, 2021: Demand Cash and Cash Equivalents Deposits Governmental Activities Governmental Funds $37,078,404 Internal Service Funds 3,349,777 Business-Type Activities 5,360,652 Total Unrestricted Cash and Cash Equivalents 45,788,833 Restricted Cash and Cash Equivalents Business-Type Activities 4,742,857 Total Cash and Cash Equivalents $50,531,690 NOTE 3 Î RESTRICTED ASSETS Restricted assets in the Enterprise Funds include those assets created by resolutions adopted by the Board for the airport passenger facility charges and customs service operations. Total restricted assets as of September 30, 2021 are as follows: Cash and Cash Accounts Equivalents Receivable Total Key West Airport Passenger Facility Charges $4,574,038 $ 407,221 $4,981,259 Marathon Airport Customs Service Operations 168,819 - 168,819 $4,742,857 $ 407,221 $5,150,078 D-16 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 4 Î ACCOUNTS RECEIVABLE Accounts receivable, in the accompanying fund financial statements, are shown net of the allowance for doubtful accounts. The accounts receivable and the allowance balances are as follows: Allowance for AccountsUncollectibleAccounts Service ProvidedReceivableAccountsReceivable, Net Governmental General FundMisc26,839$ 4,376 22,463$ Fine & Forfeiture FundAir Amb Svc32,336,435 22,522,988 9,813,447 Governmental GrantsMisc35,836 667 35,169 Non-Major Funds: Fire and Ambulance Dist 1 - MiscGround Amb Svc2,054,021 1,912,982 141,039 Other Nonmajor FundsMisc8,375 4,836 3,539 Internal Service FundsMisc61,806 2,972 58,834 Total Governmental Activities34,523,312 24,448,821 10,074,491 Business-Type Activities MSD-Waste Fund:Tipping Fees267,810 78,738 189,072 Key West AirportRent, Misc748,923 3,757.00 745,166 Marathon AirportRent, Misc129,027 129,027 Total Business-Type Activities1,145,760 82,495 1,063,265 Total Accounts Receivable35,669,072$ 24,531,316$ 11,137,756$ The Board passed Resolutions 402-2020 and 401-2020 approving air and ground ambulance billing write offs, respectively, of $2,373,352 and $397,897 for fiscal year 2021. The Board also passed Resolution 400-2020 to write off $1,402,233 of air ambulance billings related to resident waivers. NOTE 5 Î 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 Board 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. D-17 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 6 Î MORTGAGES RECEIVABLE Mortgages receivable at September 30, 2021 consist of the following: Major Governmental Funds Î 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. $ 277,620 Nonmajor Governmental Funds Î 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. 5,138 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. 8,039,310 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. 469,467 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 D-18 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 6 Î 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. 211,868 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. 1,262,497 Total Nonmajor Governmental Funds-Local Housing Assistance 10,004,280 Total Mortgages Receivable $10,281,900 The mortgages receivable associated with the governmental grants are offset by an allowance for uncollectible accounts of $277,620. As the mortgages receivable associated with the Local Housing Assistance fund are intended to ultimately be forgiven, an allowance for uncollectible accounts of $10,004,280 has been established. NOTE 7 Î CAPITAL ASSETS Amounts associated with the BoardÓs governmental activitiesÓ capital assets, related accumulated depreciation and depreciation expense are reported on the government-wide financial statements of the County, rather than on the financial statements of the Board. Amounts associated with the BoardÓs business-type activitiesÓ and internal service fundsÓ capital assets, related accumulated depreciation and depreciation expense are reported on the proprietary fund financial statements of the Board. 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 BoardÓs assets sustained storm-related damage. Throughout FY 2018, repairs and replacements were being made to damaged assets in accordance with guidelines established by the Federal Emergency Management Agency (ÐFEMAÑ). Most repairs and replacements will be financed with reimbursements from FEMA or insurance recoveries. D-19 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 7 Î CAPITAL ASSETS (continued) Capital asset activity for the year ended September 30, 2021 is shown in the following table: Beginning Balance Ending (as restated) Additions Reductions Balance Governmental Activities: Capital assets not depreciated: Land $ 84,241,805 $ 1,666,613 $ (1,634,904) $ 84,273,514 Land Development Rights - 1,475,832 - 1,475,832 Construction in progress 33,969,575 35,058,628 (20,267,002) 48,761,201 Total capital assets not depreciated 118,211,380 38,201,073 (21,901,906) 134,510,547 Capital assets depreciated: Buildings 172,916,492 14,016,308 - 186,932,800 Equipment 36,293,734 7,856,279 (3,058,382) 41,091,631 Infrastructure 404,164,393 3,494,375 - 407,658,768 Capacity rights 3,150,000 - - 3,150,000 Total assets depreciated 616,524,619 25,366,962 (3,058,382) 638,833,199 Less accumulated depreciation for: Buildings (75,011,285) (3,735,036) - (78,746,321) Equipment (26,125,252) (4,818,623) 3,252,652 (27,691,223) Infrastructure (64,124,321) (9,166,881) - (73,291,202) Capacity rights (509,088) (31,818) - (540,906) Total accumulated depreciation (165,769,946) $ (17,752,358) $ 3,252,652 (180,269,652) Total capital assets depreciated, net 450,754,673 458,563,547 Governmental funds, capital assets, net $ 568,966,053 $ 593,074,094 Business-Type Activities: Capital assets not depreciated: Land $ 5,647,606 $ 478,422 $ - $ 6,126,028 Construction in progress 9,750,152 23,443,470 (16,458,400) 16,735,222 Total capital assets not depreciated 15,397,758 23,921,892 (16,458,400) 22,861,250 Capital assets depreciated: Land improvements 212,925 - - 212,925 Buildings 68,507,779 11,779,712 - 80,287,491 Equipment 6,498,327 1,686,890 (808,169) 7,377,048 Infrastructure 84,254,978 - - 84,254,978 Total assets depreciated 159,474,009 13,466,602 (808,169) 172,132,442 Less accumulated depreciation for: Land Improvements (212,925) - - (212,925) Buildings (21,645,610) (706,989) - (22,352,599) Equipment (4,282,455) (1,297,958) 844,952 (4,735,461) Infrastructure (30,868,909) (2,457,364) - (33,326,273) Total accumulated depreciation (57,009,899) $ (4,462,311) $ 844,952 (60,627,258) Total capital assets depreciated, net 102,464,110 111,505,184 Business-type activities, capital assets, net $ 117,861,868 $ 134,366,434 D-20 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 7 Î CAPITAL ASSETS (continued) 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 $ 3,325,330 Municipal Service District-Waste $ 184,901 Public Safety 3,482,331 Card Sound Bridge 401,766 Physical Environment 6,529,109 Key West Airport 2,484,585 Transportation 2,430,075 Marathon Airport 625,974 Economic Environment 159,899 Human Services 353,053 Total Business-Type Activities $3,697,226 Culture and Recreation 231,341 Court-Related 1,241,220 Total Governmental Activities $17,752,358 NOTE 8 Î POST EMPLOYMENT BENEFITS OTHER THAN PENSION General Information about the Other Post-Employment Benefits: Plan Description Î The Board administers a single-employer defined benefits healthcare plan (the ÐPlanÑ). 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 and each Constitutional Officer. The Board is responsible for funding all obligations not funded on a pay-as-you-go basis by Constitutional Officers. However, the following disclosures are based on the BoardÓs enterprise and internal service fundsÓ share of the net Other Post-Employment Benefits (ÐOPEBÑ) obligation. D-21 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 8 Î POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued) Benefits Provided Î 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 (ÐFRSÑ) 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. (1) Contribution as Percentage of Annual Actuarial Rate Plan Years of Service with Monroe County Year 25+ 20-24 10-19 (2) 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). Retirees who have met the requirements for early retirement, have not achieved age 60 and whose age and years of service do not equal 70 (rule of 70) must pay the standard monthly premium until the age criteria or the rule of 70 is met. At that time, the retireeÓs cost of participation will be based on the preceding table. Surviving spouses and dependents of participating retirees may continue in the Plan if eligibility criteria specific to those classes are met. An employee who retires as an active participant in the Plan, was hired prior to October 1, 2001, has at least ten years of full-time service with the County, and meets the retirement criteria of the FRS and is eligible for Medicare at the time of retirement or becomes eligible for Medicare following retirement, may maintain group health insurance benefits with 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. D-22 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 8 Î POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued) Employees Covered by Benefit Terms Î Eligibility for post-employment participation in the Plan is limited to full-time employees of the County and the Constitutional Officers. At September 30, 2021, there were no terminated employees entitled to deferred benefits. The membership of the BoardÓs medical plan consisted of: Active Employees 550 Retirees and Beneficiaries Currently Receiving Benefits 425 Total Membership 975 Contributions Î 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 BoardÓs enterprise and internal service funds total OPEB liabilities of $1,406,000 was measured as of September 30, 2021, and was determined by an actuarial evaluation as of October 25, 2021. Actuarial Methods and Assumptions Î The valuation, dated October 25, 2021, was prepared using generally accepted actuarial principles and practices, and relied on unaudited census data and medical claims data reported by the Board. The total OPEB liability for the BoardÓs enterprise and internal service funds in the September 30, 2021 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 2.5% per annum Salary Increase Rate 3.5% per annum Discount Rate 2.21% per annum (Beginning of Year) 2.15% per annum (End of Year) Source: Bond Buyer 20-Bond GO index Marriage Rate The assumed percentage of married participants at retirement is 25% and is based on the current retired population of the BOCC. D-23 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 8 Î POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued) 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 11.3 years starting on October 1, 2019, equal to the average remaining service of active and inactive plan members (who have no future service). Plan Participation Percentage The assumptions for participation of eligible retirees in the CountyÓs postemployment benefit plan are: Retirees with 25+ Years of Service: 100% Retirees with 20 Î 24 Years of Service: 20% Retirees with < 20 Years of Service: 25% The actuarial assumptions include an annual health care cost trend rates of 5.5% 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 Pub-2010 projected forward using the SOA scale MP-19. Expected retiree claim costs were developed using 24 months historical claim experience through May 2020. Non-claim expenses are based on the current amounts charged per retired employee. D-24 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 8 Î POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued) Changes in the Total OPEB Liability For the BoardÓs Enterprise and Internal Service Funds: Total OPEB Liability ginning of the year $ 1,329,000 Balance at the be Changes for the year: Service cost 95,600 Interest cost 30,900 Changes of benefit terms on January 1, 2021 - Differences between expect and actual experiences - Changes in assumptions or other inputs 8,200 Benefit payments (57,700) Net change in total OPEB liability 77,000 Balance at the end of the year $ 1,406,000 Sensitivity of the Total OPEB Liability to Changes in the Discount Rate Î The following presents the total OPEB liability of the BoardÓs enterprise and internal service funds, as well as what the total OPEB liability for the BoardÓs enterprise and internal service funds would be if it were calculated using a discount rate that is 1-percentage-point lower (1.15%) or 1-percentage-point higher (3.15%) than the current discount rate: Current Discount 1% Decrease Rate 1% Increase (1.15%) (2.15%) (3.15%) Total OPEB Liability $1,631,000 $1,406,000 $1,265,400 Sensitivity of the Total OPEB Liability to Changes in the Healthcare Cost Trend Rates Î The following presents the total OPEB liability of the BoardÓs enterprise and internal service funds, as well as what the total OPEB liability would be for the BoardÓs enterprise and internal service funds if it were calculated using a healthcare cost trend rates that are 1-percentage-point lower (4.5% decreasing to 3.5%) or 1- percentage-point higher (6.5% decreasing to 5.5%) than the current healthcare cost trend rates: Healthcare Cost Trend Rates 1% Decrease Current Trend 1% Increase (4.5% decreasing to (5.5% decreasing to (6.5% decreasing to 3.5%) 4.5%) 5.5%) Total OPEB Liability $1,216,200 $1,406,000 $1,661,900 D-25 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 8 Î POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued) OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB For the year ended September 30, 2021, the BoardÓs enterprise and internal service funds recognized an OPEB expense of ($743,800). At September 30, 2021, the BoardÓs enterprise and internal service funds reported deferred outflows of resources and deferred inflows of resources related to the OPEB from the following sources: Deferred Deferred Outflows of Inflows of Resources Resources Changes of Assumptions or Other Inputs $ 382,200 $ (78,200) The amounts the BoardÓs enterprise and internal service funds 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 2022 $ 23,300 2023 23,300 2024 23,300 2025 28,200 2026 38,300 Thereafter 167,600 Total $ 304,000 D-26 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 9 Î FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS General Information: The BoardÓs employees participate in FRS. As provided by Chapters 121 and 112, Florida Statutes, the FRS provides two cost sharing, multiple employer defined benefit plans administered by the Florida Department of Management Services, Division of Retirement, including the FRS Pension Plan (ÐPension PlanÑ) and the Retiree Health Insurance Subsidy (ÐHIS PlanÑ). Under Section 121.4501, Florida Statutes, the FRS also provides a defined contribution plan (ÐInvestment PlanÑ) alternative to the FRS Pension Plan, which is administered by the State Board of Administration (ÐSBAÑ). 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 Î The Pension Plan is a cost-sharing multiple-employer defined benefit pension plan, with a Deferred Retirement Option Program (ÐDROPÑ) for eligible employees. Benefits Provided Î 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. D-27 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 9 Î 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 OfficersÓ class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 3.0% (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 OfficersÓ 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 3% 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 3% determined by dividing the sum of the pre-July 2011 service credit by the total service credit at retirement multiplied by 3%. 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 Î Effective July 1, 2011, all enrolled members of the FRS, other than DROP participants, are required to contribute 3% of their salary to the FRS. In addition to member contributions, governmental employers are required to make contributions to the FRS based on state-wide contribution rates 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, 2020 through June 30, 20201 and from July 1, 2021 through September 30, 2021, respectively, were as follows: RegularÏ10.00% and 10.82%; Special Risk Administrative SupportÏ35.84% and 37.76%; Special RiskÏ24.45% and 25.89%; Senior Management ServiceÏ27.29% and 29.01%; Elected OfficersÓÏ49.18% and 51.42%; and DROP participantsÏ16.98% and 18.34%. These employer contribution rates include 1.66% HIS Plan subsidy for the periods October 1, 2020 through June 30, 2021 and from July 1, 2021 through September 30, 2021, respectively. D-28 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 9 Î FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) The BoardÓs contributions, including employee contributions, to the Pension Plan for its business-type activities, totaled $420,194 for the fiscal year ended September 30, 2021. Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions Î The BoardÓs governmental funds, which use the current resources measurement basis of accounting, generally recognize pension expense as amounts are paid. Pension liabilities are recognized at the fund level only to the extent expected to be liquidated with expendable available financial resources. Amounts associated with long-term pension liabilities and related deferred outflows of resources and deferred inflows of resources are reported on the government-wide financial statements of the County, rather than the financial statements of the Board. The BoardÓs enterprise and internal service funds recognize pension liabilities, pension expense and deferred outflows of resources and deferred inflows of resources related to pensions on the accrual basis of accounting. At September 30, 2021, the BoardÓs enterprise and internal service funds reported a liability of $1,128,748 for their proportionate share of the Pension PlanÓs net pension liability. The net pension liability was measured as of June 30, 2021, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of July 1, 2021. The BoardÓs proportionate share of the net pension liability was based on the BoardÓs FY 2021 contributions relative to the FY 2021 contributions of all participating members. At June 30, 2021, the BoardÓs proportionate share for all funds was 0.1272%, which was a decrease of 0.00063% from its proportionate share measured as of June 30, 2020. Approximately 11.75% of the BoardÓs proportionate share of the net pension liability was allocated to the enterprise and internal service funds of the Board based on their proportionate share of the BoardÓs Pension Plan contributions. For the fiscal year ended September 30, 2021, the BoardÓs enterprise and internal service funds recognized pension benefit of a negative $139,950. In addition, these activities 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 $ 214,700 $ - Changes of Assumptions 857,106 - Net Difference Between Projected and Actual Earnings on Pension Plan Investments - 4,370,095 Changes in Proportion and Differences Between Pension Plan Contributions and Proportionate Share of Contributions 299,816 113,845 Pension Plan Contributions Subsequent to the Measurement Date 150,947 - Total $ 1,522,569 $ 4,483,940 D-29 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 9 Î FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) The Pension PlanÓs deferred outflows of resources related to the BoardÓs enterprise and internal service funds contributions to the Pension Plan subsequent to the measurement date, totaling $150,947, will be recognized as a reduction of the net pension liability in the fiscal year ended September 30, 2022. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to the Pension Plan will be recognized in pension expense of the enterprise and internal service funds as follows: FRS For Fiscal Year: Amount 2022 $ (548,157) 2023 (639,202) 2024 (846,697) 2025 (1,084,983) 2026 6,721 Total $ (3,112,318) Actuarial Assumptions Î The total pension liability in the June 30, 2021 actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the measurement: Inflation 2.40% Salary increases 3.25%, average, including inflation Investment rate of return 6.80%, net of pension plan investment expense, including inflation Mortality rates were based on the PUB2010 base table varies by member category and sex, projected generationally with Scale MP-2018 details in the valuation report. The actuarial assumptions used in the July 1, 2021, 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 remained at 6.80%, 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 policyÓs 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: D-30 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 9 Î FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) Compound Annual Annual Target Arithmetic (Geometric) Standard Asset Class Allocation Return ReturnDeviation Cash 1.0% 2.1% 2.1% 1.1% Fixed Income 20.0% 3.8% 3.7% 3.3% Global Equity 54.2% 8.2% 6.7% 17.8% Real Estate (Property) 10.3% 7.1% 6.2% 13.8% Private Equity 10.8% 11.7% 8.5% 26.4% Strategic Investments 3.7% 5.7% 5.4% 8.4% Total 100.0% Discount Rate Î The discount rate used to measure the total pension liability was 6.80%. The Pension PlanÓs 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 BoardÓs Proportionate Share of the Net Position (Asset) Liability to Changes in the Discount Rate Î The following represents the BoardÓs enterprise and internal service funds proportionate share of the net pension (asset) liability calculated using the discount rate of 6.80%, as well as what the proportionate share of the net pension (asset )liability would be if it were calculated using a discount rate that is one percentage point lower (5.80%) or one percentage point higher (7.80%) than the current rate: FRS Net Pension Liability Current Discount 1% Decrease Rate 1% Increase (5.80%) (6.80%) (7.80%) Enterprise and Internal Service Funds Proportionate Share of the Net Pension Plan (Asset) Liability $5,047,232 $ 1,128,748 $ (2,146,913) Pension Plan Fiduciary Net Position Î Detailed information regarding the Pension PlanÓs fiduciary net position is available in the separately issued FRS Pension Plan and Other State-Administered Systems Annual Comprehensive Financial Report. D-31 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 9 Î FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) HIS Plan: Plan Description Î 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 Î For the fiscal year ended September 30, 2021, 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 Î 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, 2021, the HIS contribution for the period October 1, 2020 through June 30, 2021 and from July 1, 2021 through September 30, 2021 was 1.66% and 1.66%, respectively. The Board 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 BoardÓs contributions to the HIS Plan for its business-type activities totaled $63,513 for the fiscal year ended September 30, 2021. Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions Î The basis of accounting and financial reporting of the BoardÓs HIS Plan is identical to that of the BoardÓs Pension Plan. At September 30, 2021, the BoardÓs enterprise and internal service funds reported a liability of $2,191,176 for their proportionate share of the BoardÓs HIS PlanÓs net pension liability. The net pension liability was measured as of June 30, 2021, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of July 1, 2021. The BoardÓs proportionate share of the net pension liability was based on the BoardÓs FY 2021 contributions relative to the FY 2021 contributions of all participating members. At June 30, 2021, the BoardÓs proportionate share of all funds was 0.1188%, which was a decrease of 0.0012% from its proportionate share measured as of June 30, 2020. Approximately 15.03% of the BoardÓs proportionate share of the net pension liability was allocated to the enterprise and internal service funds of the Board based on their proportionate share of the BoardÓs HIS Plan contributions. D-32 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 9 Î FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) For the fiscal year ended September 30, 2021, the BoardÓs enterprise and internal service funds recognized HIS pension expense of $183,347. In addition, these activities reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: HIS Pension Deferred Deferred Outflows of Inflows of Resources Resources Differences Between Expected and Actual Experience $ 72,858 $ 910 Changes of Assumptions 171,088 89,711 Net Difference Between Projected and Actual Earnings on HIS Plan Investments 2,270 - Changes in Proportion and Differences Between HIS Plan Contributions and Proportionate Share of Contributions 219,200 28,790 HIS Plan Contributions Subsequent to the Measurement Date 23,175 - Total $ 488,591 $ 119,411 The deferred outflows of resources related to the HIS Plan resulting from the BoardÓs enterprise and internal service funds contributions to the HIS Plan subsequent to the measurement date, totaling $23,175, will be recognized as a reduction of the net pension liability in the fiscal year ended September 30, 2022. 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 2022 $ 95,302 2023 30,360 2024 62,642 2025 83,149 2026 62,186 Thereafter 12,366 Total $ 346,005 Actuarial Assumptions Î The total pension liability in the July 1, 2021, actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the measurement: Inflation 2.40% Salary increases 3.25%, average, including inflation Municipal bond rate 2.21% D-33 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 9 Î FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) Mortality rates were based on the Generational RP-2010 with Projection Scale MP-2018 tables. The actuarial assumptions used in the July 1, 2021, 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 decreased from 3.50% to 2.21%. Discount Rate Î The discount rate used to measure the total pension liability was 2.16%. 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 BoardÓs Proportionate Share of the Net Position Liability to Changes in the Discount Rate Î The following represents the BoardÓs enterprise and internal service funds proportionate share of the net pension liability calculated using the discount rate of 2.16%, as well as what the proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1-percentage point lower (1.16%) or 1-percentage point higher (3.16%) than the current rate: HIS Net Pension Liability Current Discount 1% Decrease Rate 1% Increase (1.16%) (2.16%) (3.16%) Enterprise and Internal Service Funds Proportionate Share of the Net HIS Plan Liability $ 2,533,214 $ 2,191,176 $ 1,910,956 Pension Plan Fiduciary Net Position Î Detailed information regarding the HIS PlanÓs fiduciary net position is available in the separately issued FRS Pension Plan and Other State-Administered Systems Annual Comprehensive Financial Report. Investment Plan: The SBA administers the defined contribution plan officially titled the FRS Investment Plan. The Investment Plan is reported in the SBAÓs annual financial statements and in the State of Florida Annual Comprehensive Financial Report. D-34 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 9 Î 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, 2020 through June 30, 2021 and from July 1, 2021 through September 30, 2021, respectively. Allocations to the investment member's accounts during the FY2021, 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, 2021, 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 Board. 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 BoardÓs Investment Plan pension expense for its business-type activities totaled $94,936 for the fiscal year ended September 30, 2021. D-35 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 10 Î PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES General Information about the Pension Plan: Plan Description Î 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 BoardÓs LOSAP program are reported on the government-wide financial statements of the County, rather than on the financial statements of the Board. Benefits Provided Î Only Volunteer Firefighters and EMS Volunteers (Volunteers) are eligible at the sole discretion of the Plan 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. The Plan 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 Î LOSAP had 25 participants, of which 3 are active, 11 are inactive and 11 are retired members for the plan year ended December 31, 2020 and the CountyÓs fiscal year ending September 30, 2021. Separate, stand-alone financial statements for LOSAP are not provided. Contributions Î Contributions and benefits are calculated based on years of service. As the participants are unpaid volunteers, there is no related covered payroll and no UALL as a percentage of covered payroll. D-36 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 10 Î PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES (continued) For each 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 BoardÓs net pension liability was measured as of January 1, 2021 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. Actuarial Assumptions Î The significant actuarial assumptions used to compute the pension benefit obligation in the January 1, 2021 valuation for the period of January 1, 2020 through December 31, 2020 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: GodwinÓs 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 LOSAPÓs investments was applied to all periods of projected benefit payments to determine the total pension liability for each plan. Summary of Significant Accounting Policies Î 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. D-37 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 10 Î PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES (continued) Investments Î 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 Î 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 BoardÓs 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 planÓs 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, 2020 $ 718,133 Changes for the year: Service cost (24,610) Interest cost 6,890 Differences Between Expected and Actual Experience (61,382) Benefit payments (34,680) Net change in total LOSAP pension liability (113,782) Balance at December 31, 2020 $ 604,351 Sensitivity of the Net Pension Liability to Changes in the Discount Rate Î The following table presents the net pension liability of LOSAP, using the current discount rate, as well as what the BoardÓs 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 $ 584,755 $ 604,351 $ 503,587 D-38 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 10 Î 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, 2021, the Board recognized pension expense of $31,200. At September 30, 2021, 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 $ 3,013 $ - NOTE 11 Î CAPITAL AND OTHER SIGNIFICANT COMMITMENTS Construction projects and significant commitments, excluding encumbrances reported below, under present contractual agreements as of September 30, 2021 are as follows: Plantation Key Courthouse & Detention Center $ 7,138,113 st 1 & Bertha Avenue Improvements 3,887,873 Bimini Drive Bridge 3,002,876 Marathon Airport Terminal Re-roof 1,533,047 RowellÓs Park 1,356,597 Harbor/Seaview Bridge 1,064,667 Big Pine Swim Hole 1,013,761 Non-Aeronautical Building/Emergency Operations Center 817,697 Pigeon Key Fire Suppression 719,542 Sea Level Rise 611,786 Roads Vulnerability Analysis 484,231 Marathon Airport Tree Clearing Mitigation 349,104 Key West Airport Airfield Improvements 322,113 Key West Airport Taxiway A Rehabilitation 307,734 Jefferson B Browne Parapet Demolition 288,815 Key West Airport Maintenance Building 269,176 Cudjoe Fire Station 255,870 Big Pine Key Koehn Subdivision 253,905 Pigeon Key Commissary/Honeymoon Cottage 251,600 Other Projects (less than $250,000) 1,425,660 Total $ 25,354,167 D-39 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 11 Î CAPITAL AND OTHER SIGNIFICANT COMMITMENTS (continued) Significant encumbrance commitments at September 30, 2021 are as follows: Encumbrances Governmental Activities: General Fund $ 44,238 Fine & Forfeiture Fund 222,111 Road & Bridge Fund 587,317 Governmental Grants Fund 698,059 One Cent Infrastructure Surtax 15,032 Infrastructure Revenue Bonds Series 2014 736,752 Nonmajor Governmental Funds 75,813 Total Governmental Activities 2,379,322 Business-Type Activities: Key West Airport 86,176 Marathon Airport 110,797 Total Business-Type Activities 196,973 Total Encumbrances $ 2,576,295 NOTE 12 Î LEASE OBLIGATIONS Rental expense under cancelable operating leases for the current year amounted to $1,214,186. D-40 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 13 Î LONG-TERM DEBT Long-term debt activity for the year ended September 30, 2021 is as follows: Current Portion ` Ending Beginningof Long-term BalancesAdditionsPaymentsBalancesLiabilities Governmental Activities: Revenue Bonds From Direct Borrowings30,310,000$ -$ 4,780,000$ 25,530,000$ 4,890,000$ Revenue Notes From Direct Borrowings151,847,440 - 12,302,120 139,545,320 7,396,328 Mayfield Agreement (KLWTD)11,000,000 - 2,125,000 8,875,000 2,125,000 Accrued Comp. Absences5,107,829 2,894,140 2,980,613 5,021,356 1,004,272 y 2,561,30031,686,000 2,952,300 31,295,000 - OPEB Liabilit Pension Liability - FRS & HIS62,777,520 - 41,561,914 21,215,606 - y - LOSAP718,133 6,890 120,672 604,351 - Pension Liabilit Total Governmental Activities293,446,922 5,462,330 66,822,619 232,086,633 15,415,600 Business-Type Activities: Revenue Notes from Direct Borrowings- 748,000 - 748,000 748,000 Accrued Comp. Absences630,925 320,297 367,023 584,199 116,840 y 734,600979,000 689,600 1,024,000 - OPEB Liabilit Pension Liability - FRS & HIS6,996,736 - 4,027,177 2,969,559 - Total Business-Type Activities8,606,661 1,802,897 5,083,800 5,325,758 864,840 Total Long-Term Debt302,053,583$ 7,265,227$ 71,906,419$ 237,412,391$ 16,280,440$ The Board has outstanding revenue bonds and revenue notes from direct borrowings related to governmental activities totaling $165,075,320 at fiscal year-end. The Board has pledged non-ad valorem tax revenue to repay these borrowings. The Board cannot be compelled to use its ad valorem taxing power to repay the principal or interest of the revenue bonds or revenue notes and these obligations do not create any liens on Board property. Two of the BoardÓs four Revenue Notes are direct borrowings from the State of FloridaÓs Clean Water State Revolving Fund Construction Loan Program for the BoardÓs wastewater projects. In the event of a default of either of these two notes, the Board has agreed to an accelerated repayment schedule or an increased financing rate on the unpaid principal as determined by the State. In FY 2020, the State agreed to an amendment to the BoardÓs Clean Water State Revolving Fund Construction 2014 Loan Agreement. The amendment suspended the BoardÓs June 2020 and December 2020 loan payments. The payment deferrals, totaling $4,689,740, were requested in response to the projected uncertainty that the COVID-19 pandemic could have on the CountyÓs infrastructure sales surtax revenue. The Board relies on this tax revenue to repay its loans. The Board anticipated a reduction in revenue because the County established procedures to discourage travel to Monroe County in response to the pandemic. Interest continued to accrue on the unpaid loan amounts. The County resumed repaying the debt in accordance with established repayment schedules effective June 2021. D-41 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 13 Î LONG-TERM DEBT (continued) Amounts associated with the BoardÓs governmental activities long-term liabilities are reported on the government-wide financial statements of the County rather than on the financial statements of the Board. Amounts associated with the BoardÓs business-type activities and internal service funds long- term liabilities are reported on the proprietary fund financial statements of the Board. 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 activitiesÓ compensated absences are liquidated by the funds to which the employee services are related. 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. The following summary reflects the BoardÓs bonds and notes as of September 30, 2021: Governmental Activities Revenue Bonds From Direct Borrowings: Infrastructure Sales Surtax Revenue Bonds, Series 2014 $ 12,260,000 Infrastructure Sales Surtax Refunding Bond, Series 2016 13,270,000 Total Revenue Bonds From Direct Borrowings 25,530,000 Revenue Notes From Direct Borrowings: Clean Water State Revolving Fund Construction Loan Agreement 2010 5,146,369 Clean Water State Revolving Fund Construction Loan Agreement 2014 130,838,951 Special Obligation Refunding Revenue Note, Series 2020 Project 3,560,000 Total Revenue Notes From Direct Borrowings 139,545,320 Mayfield Agreement Î Key Largo Wastewater Treatment District 8,875,000 Total Government Debt $ 173,950,320 Business-Type Activities Revenue Notes From Direct Borrowings: Key West International Airport $10 Million Revolving Line of Credit $ 748,000 Total Business-Type Activities Debt $ 748,000 D-42 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 13 Î LONG-TERM DEBT (continued) Debt Service Funding Requirements Î The total annual debt service requirements for bonds and notes outstanding at September 30, 2021 are as follows: Governmental ActivitiesBusiness-Type Activities PrincipalInterestTotalPrincipalInterestTotal 2022 $ 14,411,328 $ 4,093,206 $ 18,504,534 $ 748,000 $ 509 $ 748,509 2023 14,699,105 3,801,342 18,500,447 - - - 2024 15,001,511 3,502,328 18,503,839 - - - 2025 15,308,666 3,195,841 18,504,507 - - - 2026 12,675,700 2,910,457 15,586,157 - - - 2027-2031 38,402,412 11,131,776 49,534,188 - - - 2032-2036 40,902,684 5,994,717 46,897,401 - - - 2037-2041 22,548,913 899,788 23,448,701 - - - Total Required Debt Service $ 173,950,319 $ 35,529,455 $ 209,479,774 $ 748,000 $ 509 $ 748,509 Long-term debt at September 30, 2021 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 1 Interest payment dates: April 1 and October 1 Interest rate: 2.36% Amount outstanding at September 30th: $12,260,000 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 $12,843,274. For the fiscal year, principal and interest paid was $4,281,376 and total pledged revenue was $28,658,729. Purpose: To construct and acquire equipment and capital improvements. Call provisions: None D-43 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 13 Î LONG-TERM DEBT (continued) $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: $5,146,369 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 $5,796,475. For the fiscal year, principal and interest paid was $681,938 and total pledged revenue was $58,863,540. Purpose: Refund temporary financing for wastewater capital improvements. Call provisions: None 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, 2021, the ninth award amendment suspended the June 2020 and the December 2020 loan payments (each totaling $4,502,451 principal and interest) because of the uncertain impact the COVID-19 pandemic could have on the CountyÓs infrastructure sales surtax revenue. 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: $130,838,951 Reserve requirement: None Revenue pledged: One Cent Local Government Infrastructure Sales Surtax and Cudjoe Regional Wastewater special assessments. The total principal and interest remaining to be paid is $164,140,912. For the fiscal year, principal and interest paid was $4,689,740 and total pledged revenue was $31,037,733. Purpose: Financing for wastewater capital improvements. Call provisions: None D-44 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 13 Î LONG-TERM DEBT (continued) $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: $13,270,000 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 $14,164,771. For the fiscal year, principal and interest paid was $1,118,891 and total pledged revenue was $28,658,729. Purpose: To construct and acquire equipment and capital improvements. Call provisions: None $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: $8,875,000 Reserve requirement: None Revenue pledged: One Cent Local Government Infrastructure Sales Surtax. The total principal remaining to be paid is $8,875,000. For the fiscal year, principal paid was $2,125,000 total pledged revenue was $28,658,729. Purpose: Capital improvements with respect to Cudjoe Regional Wastewater Project Call provisions: None See Note 14 for additional information related to this agreement. D-45 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 13 Î LONG-TERM DEBT (continued) Series 2020 Special Obligation Refunding Revenue Note Final maturity: Year 2025 Principal payment date: April 1 Interest payment dates: April 1 and October 1 Interest rate: 1.11% Amount outstanding at September 30th: $3,560,000 Reserve requirement: None Revenue pledged: Non-Ad Valorem Revenues in the General Fund, the Fine and Forfeiture Fund, the Unincorporated Area Service District Funds. The total principal and interest remaining to be paid is $3,659,345. For the fiscal year, there were no principal and interest and total pledged revenue was $58,863,540. Purpose: Acquisition, installation, and implementation of Enterprise Resources Planning system. Call provisions: None Series 2021 Monroe County, Florida Taxable Master Airport Revenue Note Line of Credit Final maturity: June 30, 2023 Principal payment date: Principal of all draws are due and payable on the final maturity date. Interest payment dates: Payable quarterly in arrears on the first day of January, April, July, and October of each year. Interest rate: Lesser of (i) the greater of (A) the Prime Rate plus 3% annum, or (B) the Overnight Bank funding Rate plus 3.5% per annum, or (C) 7% per annum, or (ii) the maximum rate permitted by law. Amount outstanding at September 30th: $748,000. Loan amount not to exceed $10,000,000. Reserve requirement: None Revenue pledged: Eligible Passenger Facility Charge (PFC) Revenues in accordance with the PFC Act and the PFC Authority. For the fiscal year, no principal or interest was paid, and total pledged revenue was $2,841,935. Purpose: Projects and capital improvements for the Key West International Airport. Call provisions: None D-46 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 14 Î INTERLOCAL AGREEMENT EXPENSE Administered by the Florida Department of Environmental Protection (ÐFDEPÑ), the Mayfield Grant is the result of the State of Florida authorizing up to $200 million in grant funding to assist the KeysÓ wastewater entities to complete central sewer and related projects. In May 2015, Monroe County and Key Largo Wastewater Treatment District (ÐKLWTDÑ) entered into an interlocal agreement (ÐILAÑ) whereby KLWTD ÐassignedÑ 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. The offset to this liability was an interlocal agreement expense which represents the value of Monroe CountyÓs ÐrightÑ to receive the Mayfield Grant revenue forfeited by KLWTD. D-47 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 15 Î INTERFUND BALANCES The General Fund received $19,758 from Debt Service Fund related to upcoming interest payments for the ERP Project. Similarly, the One Cent Infrastructure Surtax Fund received $256,800 from the Debt Service Fund related to future bond interest payments. The Governmental Grants fund transferred $2,337,893 to various funds during the fiscal year to distribute CARES funding received from the federal government for the purposes of paying for employeesÓ leave due to the pandemic. The Infrastructure Revenue Bonds Series 2014 Fund transferred $2,368 to the General Fund for the Marathon Library capital project. The General Fund received $8,194 from One Cent Infrastructure Surtax Fund, $236 from the Governmental Grants Fund, and $551 from the Group Insurance Fund to correct coding on accounting transactions. The Fine and Forfeiture Fund received $313,801 from the One Cent Infrastructure Sales Surtax Fund for the purchase of a diesel generator for Correction Facilities. The Governmental Grants Fund received $179,066 from the One Cent Infrastructure Sales Surtax for expenditures related to various capital projects while the Unincorporated Planning, Building, Zoning Fund transferred $7,873 to the Governmental Grants Fund for the Transportation Planning Program. The One Cent Infrastructure Sales Surtax Fund received $105,037 from the Governmental Grants Fund for the capital projects funded with grants. The One Cent Infrastructure Surtax Fund paid $21,945 to the Tourist Development District Five Fund for the RowellÓs Park construction and the Key West International Airport paid $2,141 to the Tourist Development District One for construction related to the East Martello Building. Receivable Fund Payable Funds Amount General Fund Governmental Grants $ 420,836 Debt Service 19,758 One Cent Infrastructure Surtax 8,194 Infrastructure Revenue Bonds Series 2014 2,368 Group Insurance 551 Fine and Forfeiture One Cent Infrastructure Surtax 316,301 Governmental Grants 36,566 Governmental Grants One Cent Infrastructure Surtax 179,066 Unincorporated Planning, Building, Zoning 7,873 One Cent Infrastructure Surtax Governmental Grants 132,864 Debt Service 256,800 Nonmajor Funds Governmental Grants 1,778,185 One Cent Infrastructure Surtax 21,945 Key West International Airport Tourist Development District One 2,141 Marathon Airport Governmental Grants 10,737 Municipal Service District Waste Governmental Grants 6,026 Card Sound Bridge Governmental Grants 5,586 Internal Service Funds Governmental Grants 52,365 D-48 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 16 Î INTERFUND TRANSFERS Interfund transfers at September 30, 2021 are as follows: Transfers to General Fund from: One Cent Infrastructure Surtax Fund $ 533,877 Governmental Grants Fund 420,600 Municipal Service District Î Waste 235,202 Card Sound Bridge Fund 79,776 Marathon Airport 137,385 Key West Airport 477,280 Internal Service Funds 261,656 Nonmajor Governmental Funds 5,968,308 Total Transfers to General Fund 8,114,084 Transfers to Fine and Forfeiture Fund from: Governmental Grants Fund 36,566 Transfers to Governmental Grant Fund from: General Fund 310,055 Fine & Forfeiture Fund 11,944 One Cent Infrastructure Surtax Fund 282,677 Nonmajor Governmental Funds 254,163 Total Transfers to Governmental Grant Fund 858,839 Transfers to Debt Service Fund from: One Cent Infrastructure Surtax Fund 10,089,512 Governmental Grant Fund 8,482,873 Cudjoe Regional Wastewater Project Fund 2,125,740 Key West Airport 2,958 Municipal Service District - Waste 318,908 Nonmajor Governmental Funds 681,999 Total Transfers to Debt Service Fund 21,701,990 Transfers to One Cent Infrastructure Sales Surtax Fund from: Governmental Grants Fund 27,828 Nonmajor Governmental Funds 305,836 Total Transfers to One Cent Infrastructure Sales Surtax 333,664 Transfers to Infrastructure Revenue Bonds Series 2014 Fund from: One Cent Infrastructure Sales Surtax 9,895,000 Transfers to Nonmajor Funds from: Governmental Grants Fund 1,778,185 Transfers to Proprietary Funds from: Governmental Grants Fund 74,714 Total Interfund Transfers $ 42,793,042 D-49 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 16 Î INTERFUND TRANSFERS (continued) The One Cent Infrastructure Sales Surtax Fund, a major fund, transferred almost $9,895,000 to the Infrastructure Revenue Bonds Series 2014 Fund to provide continued financing for various capital projects such as the Plantation Key Courthouse and the Marathon Library. The Board approved transferring $305,836 for funding the completion of the Long Key Wastewater project. The One Cent Infrastructure Surtax Fund also transferred $10,089,512 to the Debt Service Fund to repay the BoardÓs 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 $2,125,740 to the Debt Service Fund to repay its Clean Water State Revolving Fund Construction Loan. Similarly, the Big Coppitt Wastewater Project transferred $681,999 to the Debt Service Fund for the repayment of debt related to this project. During FY 2021, the Key West International Airport transferred $2,958 to the Debt Service Fund to pay for debt service costs related to obtaining a $10 million revolving line of credit to finance the building of a new concourse. The Governmental Grants fund transferred $2,337,893 to various funds during the fiscal year to distribute CARES funding received from the federal government for the purposes of paying for employeesÓ leave due to the pandemic. The ClerkÓs Revenue Note Fund transferred $2,500,000 to the General Fund to fund the CountyÓs implementation of an Enterprise Resources Planning (ERP) system. The Governmental Grants Fund transferred $8,482,873 and the Municipal Service District Î Waste transferred $318,908 to the Debt Service Fund to repay the Revenue Bond Series 2019 loan for financing the CountyÓs recovery from Hurricane Irma. The funds transferred were grant proceeds and insurance recoveries received during the fiscal year from the FEMA related to Hurricane Irma. Transfers were made to the Governmental Grants Fund of $858,839 during the fiscal year. The General Fund transferred $79,576 to meet match requirements for pandemic-related grant and $102,633 to pay for expenditures related to Tropical Storm Eta. The General Fund also financed cost share requirements of $16,188 for a FEMA grant, $13,666 for various Social Services-related grants, and $97,993 for the Pigeon Key Ferry Service grant. In addition, $34,602 was transferred from the Environmental Restoration Fund to the Governmental Grants Fund to meet match requirements for exotic plan removal; $3,131 was transferred from the Boating Improvement Fund for derelict vessels; and $600 was transferred from the Fire & Ambulance District 1 Fund for a grant related to emergency medical services. The Fine and Forfeitures Fund transferred $11,944 to meet its funding requirements for drug counseling grants. The One Cent Infrastructure Surtax Fund transferred $282,677 to the Governmental Grants Fund for the st cost share portion of the 1 and Bertha Streets Project while the Unincorporated Area Service District, Planning, Building, and Zoning Fund transferred $67,466 for funding the Transportation Planning Program. The Government Grants Fund received $148,364 from the Tourist Development CouncilÓs District One to pay match requirements for the Division of Historical Resources Grant for the Monroe County Historic Jail project. The remaining transfers are related to supporting the CountyÓs operations. D-50 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 17 Î GOVERNMENTAL FUND BALANCE CLASSIFICATIONS Fund Balances are presented in the following categories; non-spendable, restricted, committed, assigned and unassigned (see Note 1 for a description of these categories). A detailed schedule of governmental fund balances at September 30, 2021 is presented below: One Cent Infrastructure Fine & Governmental Infrastructure Revenue Bonds General Forfeiture Grants Surtax Series 2014 Fund Balance: Non-spendable: Inventory $ 4,686 $ - $ - $ - $ - Total Non-spendable 4,686 - - - - Restricted for: Law Enforcement - 16,571,522 - - - 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 - - - 27,309,988 4,804,886 Total Restricted - 16,571,522 - 27,309,988 4,804,886 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 44,238 - - - - Fire & Ambulance - - - - - Subsequent Year Expenditures 10,013,788 - - - - Total Assigned 10,058,026 - - - - Unassigned 22,944,679 - ($4,622,482) - - Total Fund Balances $ 43,007,391 $ 16,571,522 ($4,622,482) $ 27,309,988 $ 4,804,886 D-51 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 17 Î GOVERNMENTAL FUND BALANCE CLASSIFICATIONS (continued) Cudjoe Regional All Debt Nonmajor Total Wastewater Service Governmental Governmental d Funds Funds Project Fun Fund Balance: Non-spendable: Inventory $ - $ - $ - $ 4,686 Total Non-spendable - - - 4,686 Restricted for: Law Enforcement - - 6,465,532 23,037,054 Fire & Ambulance - - 1,595,024 1,595,024 Public Safety - - 5,341,749 5,341,749 Physical Environment - - 4,041,800 4,041,800 Transportation - - 9,384,730 9,384,730 Housing Programs - - 2,118,016 2,118,016 Tourist Development - - 69,921,387 69,921,387 Human Services - - 47,600 47,600 Libraries - - 172,762 172,762 Library Donations - - - - Culture & Recreation - - 2,697,118 2,697,118 Court Programs - - 7,306,199 7,306,199 Comprehensive Planning - - 4,296,891 4,296,891 Federal & State Grants - - - - Wastewater Projects 4,703,405 - 2,588,523 7,291,928 poses - - 690,595 690,595 Other Pur Debt Service - 3,182,395 - 3,182,395 Capital Projects - - 1,260,153 33,375,027 Total Restricted 4,703,405 3,182,395 117,928,079 174,500,275 Committed to: Disaster Recovery - - - 10,000,000 Physical Environment - - 4,690,219 4,690,219 Wastewater Projects - - 372,474 372,474 Beach Re-nourishment - - 227,242 227,242 Total Committed - - 5,289,935 15,289,935 Assigned to: Other Purposes - - - 44,238 Fire & Ambulance - - 6,169,529 6,169,529 Subsequent Year Expenditures - - - 10,013,788 Total Assigned - - 6,169,529 16,227,555 Unassigned - - (1,137) 18,321,060 Total Fund Balances $ 4,703,405 $ 3,182,395 $ 129,386,406 $ 224,343,511 D-52 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 18 Î RISK MANAGEMENT The Board 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 WorkersÓ 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 WorkersÓ Compensation has self-insured coverage up to the first $500,000 per claim for regular employees. WorkersÓ 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 Board participate in the programs and make payments to the WorkersÓ Compensation, Group Insurance, and Risk Management Funds based on managementÓs 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 2021 and 2020 were: WorkersÓ Group Risk Compensation Insurance Management Total Unpaid Claims at Sept. 30, 2019 $ 1,333,516 $ 1,121,259 $ 646,670 $ 3,101,445 Incurred Claims (Including IBNR) 2,169,013 14,933,097 502,258 17,604,368 Claim Payments (1,862,141) (14,991,833) (468,918) (17,322,892) Unpaid Claims at Sept. 30, 2020 1,640,388 1,062,523 680,010 3,382,921 Incurred Claims (Including IBNR) 1,678,053 17,423,291 890,192 19,991,536 Claim Payments (1,775,139) (17,434,467) (716,992) (19,926,598) Unpaid Claims at Sept. 30, 2021 $ 1,543,302 $ 1,051,347 $ 853,210 $ 3,447,859 D-53 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 19 Î 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 BoardÓs practice is to provide for these claims when a loss is probable and a loss becomes fixed or determinable in amount. The Board is involved in a handful of lawsuits. Most claims have been defeated to date, but four merit mention. The first claim, AshBritt, Inc. v. Monroe County is an action for declaratory relief and damages from the alleged breach of a June 2017 agreement between the parties. The Plaintiff claimed that it provided debris collection, processing, and removal services in response to Hurricane Irma in September 2017 and that the Board thereafter failed to pay invoices of approximately $1.5 million. Issues to do with some invoices (approximately $400,000) appear to have been resolved. As to the remainder, the Board maintains that three specific invoices (totaling approximately $1.1 million) for long distance haul out and for removal of putrid waste from white goods (refrigerators and freezers) are not payable because they represent charges not contemplated by the agreement. On February 24, 2020, the trial court denied the BoardÓs Motion for Summary Judgment, which had asserted sovereign immunity as a defense to the claims. The Board filed a Notice of Appeal on March 23, 2020. On March 9, 2022, the appellate court returned an opinion affirming the decision of the trial court, finding that summary judgement was not appropriate because of disputed factual issues. As a result, the case will be returned to the trial court and set for trial. The Board has several viable contract defenses. However, in the event of an adverse outcome, there is a reasonably probable likelihood that the Board will be subject to a judgment in the amount determined to be due and unpaid under the agreement, plus additional amounts for attorneyÓs fees and costs under Section 9.11 of the agreement. The second claim, Galleon Bay vs. Monroe County and the State of Florida, is an inverse condemnation action involving thirteen lots on No Name Key. Liability was established by the appellate courts in December of 2012 and remanded the case for a valuation trial. On February 18, 2016, a jury valued the thirteen lots at $285,500 as of July 2001. The trial court entered final judgment in the amount of $480,511.60, as of June 1, 2016, plus statutory post judgment interest. After the judgment was affirmed on appeal, the Board deposited $531,390.67 in the Court Registry to satisfy the judgment and the Clerk issued a Satisfaction of Judgment. The Florida Legislature approved a measure during the 2020 legislative session to reimburse the Board for the StateÓs 50 percent share of the amount paid; the payment from the State was received during FY 2021. Contemporaneously, the property owners moved to invalidate the final judgment, which the trial court denied. On September 13, 2019, the property owner appealed that order to the Third District Court of Appeal. On December 2, 2020, the appellate court affirmed that order. On February 17, 2021, the appellate court denied the PlaintiffÓs motion for rehearing or in the alternative to certify conflict; the Court issued a mandate on March 5, 2021. Absent an unlikely acceptance of discretionary review by the Florida Supreme Court and/or the U.S. Supreme Court, this appeal is concluded and the judgment is now final. D-54 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 19 Î LITIGATION AND CLAIMS (continued) The Plaintiff will next ask the courts to determine any entitlement to costs and attorneyÓs fees. It is anticipated that the Plaintiffs will seek an award of costs and attorneyÓs fees of approximately $800,000 though motions have not been filed or amounts asserted at this time. Because judgment has been entered jointly and severally against the Board and the State, any estimations of the BoardÓs ultimate responsibility for any amounts due to be paid to the property owner should reflect a 50-50 apportionment between the State and the Board. Therefore, the claim should be characterized as a loss, with liability recorded in the approximate amount of $400,000. The property ownerÓs motion for rehearing or to certify conflict remains pending. Once the appeal is concluded, the courts will determine any entitlement to costs and attorney fees. It is anticipated that the property owner will seek an award of costs and attorney fees of approximately $1 million though motions have not been filed or amounts asserted at this time. The third claim, Key Haven Association, Enterprises, Inc., vs. FDEP, FDEO and Monroe County, is a claim where the Plaintiff filed an action for declaratory relief and inverse condemnation against two state agencies, FDEP and FDEO on September 16, 2021. The Plaintiff alleges that the denial of fill permits by the agencies for five of its submerged Key Haven lots constitute a taking. FDEO filed a motion to dismiss arguing that the Plaintiff failed to include the County as an indispensable party because the denials were based in part on the CountyÓs land development regulations, the Plaintiff filed an Amended Complaint on January 15, 2022, naming the County as a defendant as to the declaratory relief count only. The County will be filing a motion to dismiss the declaratory relief count as to the County. FDEO has filed another motion to dismiss in which it asserts the County is also an indispensable party as to the inverse condemnation count and the County will be filing a response in opposition to that motion. The County believes there is at least a remote possibility of County liability for damages in excess of the materiality standard attributable to a taking if a claim for inverse condemnation is asserted against the County. The fourth claim, Mark Thompson vs. Monroe County, et. al., is an action by a former employee seeking maintenance and cure, and negligence damages under the Jones Act. The employee was hired in March 2021 as a temporary pump-out worker assigned to work on a pump-out boat. He alleges that he was injured when the boat captain accelerated suddenly. Under the Jones Act, an injured employee (ÐseamanÑ) is entitled to maintenance and cure benefits as well as seek damages for negligence. On February 24, 2022, the former employee filed a suit alleging negligence against the County. As of March 30, 2022, the case had not yet been served but service is expected shortly. Under maritime law, a prevailing party is entitled to attorney fees and costs when the plaintiff can satisfy the high threshold required to show that a shipowner acted in bad faith. Given the amount of maintenance and cure paid to-date, and the amount forecasted for the future, in the event of an adverse outcome on the negligence claim, there is a reasonably possible likelihood that Monroe County could be liable for damages including maintenance and cure, negligence damages, and opposing counsel fees and costs. In the opinion of the Board, 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 BoardÓs 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. D-55 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2021 NOTE 20 Î COMMITMENTS AND CONTINGENCIES Grant Programs Î The Board 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 Board expects such amounts, if any, to be immaterial. NOTE 20 Î COMMITMENTS AND CONTINGENCIES (continued) Impact Fee Refunds Î 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 Î RESTATEMENT During the year ended September 30, 2021, management discovered items previously reported as additions to construction in progress were prior period expenses. Beginning net position and beginning capital assets balance have been rested as follows: Business Type Activities Enterprise Funds Key West Total Business Airport Fund Type Activities Net position at September 30, 2020, as previously reported $ 104,084,180 $ 150,370,850 Restatement (7,381,343) (7,381,343) Net position at September 30, 2020, as restated $ 96,702,837 $ 142,989,507 Capital assets at September 30, 2020, as previously reported $ 96,136,251 $ 125,243,211 Restatement (7,381,343) (7,381,343) Capital assets at September 30, 2020, as restated $ 88,754,908 $ 117,861,868 NOTE 22 Î SUBSEQUENT EVENTS Management has evaluated subsequent events through March 31, 2022, in connection with the preparation of these financial statements, which is the date the financial statements were available to be issued. D-56 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF THE BOARD'S PROPORTIONATE SHARE OF NET PENSION LIABILITY FLORIDA RETIREMENT SYSTEM PENSION PLAN LAST TEN FISCAL YEARS* 202120202019 Board's proportion of the net pension liability0.127201763%0.127836047%0.122381778% Board's proportionate share of the net pension liability $ 55,407,1799,609,799$ 42,146,581$ Board's covered payroll $ 40,912,18442,082,080$ 36,840,027$ Board's proportionate share of the net pension liability as a percentage of its covered payroll 22.84%135.43%114.40% Plan fiduciary net position as a percentage of the total pension liability 96.40%78.85%82.61% * The amounts presented for each fiscal year were determined as of June 30. No data is available for the previous two years. E-1 201820172016 20152014 0.129013726%0.110416195%0.107471975% 0.103158114%0.104891393% $ 32,660,37038,859,603$ 27,136,758$ 13,324,254$ 6,399,917$ $ 31,567,083 $ 37,018,101$ 28,496,26929,517,681$ 27,856,637$ 104.97%103.46%91.93%46.76%22.97% 84.26%83.89%84.88%92.00%96.09% E-2 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF THE BOARD'S CONTRIBUTIONS FLORIDA RETIREMENT SYSTEM PENSION PLAN LAST TEN FISCAL YEARS* 202120202019 Contractually required contribution $ 4,755,272 $ 4,418,540 $ 3,552,282 Contributions in relation to the contractually required contributions (4,418,540)(4,755,272) (3,552,282) Contribution deficiency (excess) $ --$ -$ Board's covered payroll $ 31,198,127 $ 32,741,086 $ 30,285,349 Contributions as a percentage of covered payroll 15.24%13.50%11.73% * The amounts presented for each fiscal year were determined as of September 30. No data is available for the previous two years. E-3 20182017201620152014 $ 3,545,505 $ 3,169,065 $ 2,620,875 $ 2,515,082 $ 2,297,567 (3,169,065)(3,545,505) (2,620,875) (2,515,082) (2,297,567) $ --$ -$ -$ -$ $ 31,178,120 $ 26,245,139 $ 29,517,681 $ 29,097,726 $ 28,100,694 11.37%12.07%8.88%8.64%8.18% E-4 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF THE BOARD'S PROPORTIONATE SHARE OF NET PENSION LIABILITY HEALTH INSURANCE SUBSIDY PROGRAM LAST TEN FISCAL YEARS* 202120202019 Board's proportion of the net pension liability 0.118822592%0.117668137%0.110141787% Board's proportionate share of the net pension liability$ 14,367,07714,575,366$ 12,323,764$ Board's covered payroll$ 40,912,18442,082,080$ 36,840,027$ Board's proportionate share of the net pension liability as a percentage of its covered payroll 34.64%35.12%33.45% Plan fiduciary net position as a percentage of the total pension liability3.56%3.00%2.63% * The amounts presented for each fiscal year were determined as of June 30. No data is available for the previous two years. E-5 20182017201620152014 0.113326095%0.098952229%0.095343347%0.093902398%0.093727524% $ 10,580,42911,994,561$ 11,111,872$ 9,576,567$ 8,763,852$ $ 31,567,08337,018,101$ 29,517,681$ 28,496,269$ 27,856,637$ 32.40%33.52%37.64%33.61%31.46% 2.15%1.64%0.97%0.50%0.99% E-6 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF THE BOARD'S CONTRIBUTIONS HEALTH INSURANCE SUBSIDY PROGRAM LAST TEN FISCAL YEARS* 202120202019 Contractually required contribution $ 672,957 $ 689,830 $ 621,670 Contributions in relation to the contractually required contributions (689,830)(672,957) (621,670) Contribution deficiency (excess) $ --$ -$ Board's covered payroll $ 31,198,127 $ 32,741,086 $ 30,285,349 Contributions as a percentage of covered payroll 2.16%2.11%2.05% * The amounts presented for each fiscal year were determined as of September 30. No data is available for the previous two years. E-7 20182017201620152014 $ 628,246 $ 435,699 $ 488,695 $ 358,953 $ 321,079 (435,699)(628,246) (488,695) (358,953) (321,079) $ --$ -$ -$ -$ $ 31,178,120 $ 26,245,139 $ 29,517,681 $ 29,097,726 $ 28,100,964 2.02%1.66%1.66%1.23%1.14% E-8 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF CHANGES IN THE BOARD'S NET PENSION LIABILITY AND RELATED RATIOS PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES LAST TEN FISCAL YEARS* (Dollar amounts in thousands) 202120202019 Total pension liability Service cost$ (11,774)(24,610)$ (6,170)$ Interest 8,1306,890 8,724 Differences between expected and actual experience(61,382) (50,828) (35,295) Benefit payments, including refunds of employee contributions(34,680) (30,945) (31,680) Net change in total pension liability (85,417)(113,782) (64,421) Total pension liability-beginning 803,550718,133 867,971 Total pension liability-ending$ 718,133604,351$ 803,550$ Covered payroll N/AN/AN/A County's total pension liability as a percentage of covered payroll N/AN/AN/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. E-9 20182017201620152014 $ 22,93712,761$ 16,394$ 16,455$ 18,434$ 9,1469,146 8,895 8,054 12,219 (39,039)182 33,108 89,397 (9,696) (32,265)(32,265) (28,365) (30,855) (25,575) (39,221)(10,176) 30,032 83,051 (4,618) 917,368878,147 887,336 804,285 808,903 $ 878,147867,971$ 917,368$ 887,336$ 804,285$ N/AN/AN/AN/AN/A N/AN/AN/AN/AN/A E-10 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS REQUIRED SUPPLEMENTARY INFORMATION TEN YEAR SCHEDULE OF EMPLOYER CONTRIBUTIONS PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES Year Ending December 31,2020201920182017 $ 3,2655,200$ 61,388$ 39,899$ Actuarially determined contribution Contributions in relation to the actuarially determined contribution5,200 3,265 61,388 39,899 Contribution deficiency (excess)-$ -$ -$ -$ Covered payroll-$ -$ -$ -$ Contributions as a percentage of covered payrollN/AN/AN/AN/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 E-11 201620152014201320122011 $ 30,30439,899$ 28,575$ 36,788$ 28,145$ 30,379$ 30,30439,899 28,575 36,788 28,145 30,379 $ --$ -$ -$ -$ -$ $ --$ -$ -$ -$ -$ N/AN/AN/AN/AN/AN/A E-12 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF CHANGES IN THE BOARD'S TOTAL OPEB LIABILITY AND RELATED RATIOS LAST TEN FISCAL YEARS* 2021202020192018 Total OPEB liability Service cost$ 650,000971,000$ 496,958$ 1,067,439$ Interest 678,000719,000 932,494 1,695,315 Changes of benefit terms- - - (17,266,329) Changes in assumptions or other inputs189,000 7,549,000 3,431,990 (1,964,239) Benefit payments(2,225,000) (2,110,000) (1,549,168) (868,434) Net change in total OPEB liability 6,767,000(346,000) 3,312,274 (17,336,248) Total OPEB liability - Beginning of Year 25,898,90032,665,900 22,586,638 39,922,886 Total OPEB liability - End of Year$ 32,665,90032,319,900$ 25,898,912$ 22,586,638$ Covered-employee payroll$ 35,430,00036,493,000$ 32,520,000$ 31,420,000$ Total OPEB liability as a percentage of covered-employee payroll 88.56%92.20%79.64%71.89% 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 Board 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. E-13 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Taxes19,381,987$ 19,381,987$ 28,613,898$ 9,231,911$ Intergovernmental- 1,034 - (1,034) Investment Income50,000 50,000 44,830 (5,170) Miscellaneous- - 25,059 25,059 Total Revenues19,431,987 19,433,021 28,683,787 9,250,766 EXPENDITURES: Current: Capital Outlay: General Government3,500,083 5,347,908 4,268,261 1,079,647 Public Safety915,000 1,542,773 1,338,094 204,679 Physical Environment136,622 262,997 161,730 101,267 Transportation: Const. Mgmt.3,587,870 3,739,168 1,098,099 2,641,069 Culture and Recreation3,236,378 2,081,147 142,766 1,938,381 Total Capital Outlay Expenditures11,375,953 12,973,993 7,008,950 5,965,043 Excess/Deficiency of Revenues Over (Under) Expenditures8,056,034 6,459,028 21,674,837 15,215,809 Other Financing Sources (Uses): Reserve for Contingencies(2,049,895) (1,213,557) - 1,213,557 Reserve for Cash Balance(2,064,920) (2,064,920) - 2,064,920 Transfers from Other Funds- - 333,664 333,664 Transfers to Other Funds(20,115,889) (21,304,327) (20,801,066) 503,261 Total Other Financing Sources (Uses)(24,230,704) (24,582,804) (20,467,402) 4,115,402 Net Change in Fund Balances (18,123,776)(16,174,670) 1,207,435 19,331,211 Fund Balances-October 1 18,123,77616,174,670 26,102,553 7,978,777 Fund Balances-September 30$ --$ 27,309,988$ 27,309,988$ F-1 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Investment Income-$ -$ 21,330$ 21,330$ Total Revenues- - 21,330 21,330 EXPENDITURES: Capital Projects - Culture and Recreation1,674,396 2,694,327 2,664,131 30,196 Capital Projects - Buildings22,086,228 23,093,349 18,273,321 4,820,028 Total Expenditures23,760,624 25,787,676 20,937,452 4,850,224 Excess/Deficiency of Revenues Over (Under) Expenditures(23,760,624) (25,787,676) (20,916,122) 4,871,554 Other Financing Sources (Uses): Reserve for Contingencies(1,000,000) (30,000) - 30,000 Transfers from Other Funds8,910,000 9,895,000 9,895,000 - Total Other Financing Sources (Uses)7,910,000 9,865,000 9,895,000 30,000 Net Change in Fund Balances (15,922,676)(15,850,624) (11,021,122) 4,901,554 Fund Balances-October 1 15,922,67615,850,624 15,826,008 (96,668) Fund Balances-September 30$ --$ 4,804,886$ 4,804,886$ F2 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CUDJOE REGIONAL WASTEWATER CAPITAL PROJECT FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Licenses and Permits2,343,905$ 2,343,905$ 2,379,005$ 35,100$ Investment Income- - 525,228 525,228 Miscellaneous- - 127,860 127,860 Total Revenues2,343,905 2,343,905 3,032,093 688,188 EXPENDITURES: Capital Outlay: Physical Environment: Cudjoe Regional Wastewater Project Special Assessment Refunds25,000 25,000 - 25,000 Special Assessments202,022 3,063,631 1,175,992 1,887,639 Total Physical Environment227,022 3,088,631 1,175,992 1,912,639 Total Capital Outlay Expenditures227,022 3,088,631 1,175,992 1,912,639 Excess/Deficiency of Revenues Over (Under) Expenditures2,116,883 (744,726) 1,856,101 2,600,827 Other Financing Sources (Uses): Reserve for Contingencies(173,947) (173,947) - 173,947 Transfers to Other Funds(2,125,740) (2,125,740) (2,125,740) - Transfers to/from Consititutional Officers- - 3,154 3,154 Total Other Financing Sources (Uses)(2,299,687) (2,299,687) (2,122,586) 177,101 Net Change in Fund Balances (3,044,413)(182,804) (266,485) 2,777,928 Fund Balances-October 1 3,044,413182,804 4,969,890 1,925,477 Fund Balances-September 30$ --$ 4,703,405$ 4,703,405$ F-3 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL DEBT SERVICE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Investment Income15,000$ 15,000$ 25,817$ 10,817$ Total Revenues15,000 15,000 25,817 10,817 EXPENDITURES: Clean Water SRF Loans Principal3,461,377 3,461,377 3,461,316 61 Interest1,910,364 1,910,364 1,910,364 - Total Clean Water SRF Loan5,371,741 5,371,741 5,371,680 61 2014 Revenue Bonds Principal3,900,000 3,900,000 3,900,000 - Interest381,376 381,376 381,376 - Total 2014 Revenue Bonds4,281,376 4,281,376 4,281,376 - Mayfield Loan Principal2,125,000 2,125,000 2,125,000 - Total Mayfield Loan2,125,000 2,125,000 2,125,000 - 2016 Revenue Bonds Principal880,000 880,000 879,999 1 Interest239,135 239,135 238,892 243 Total 2016 Revenue Bonds1,119,135 1,119,135 1,118,891 244 (Continued) F-4 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) DEBT SERVICE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) 2018 Hurricane Irma Loan Principal- 5,012,256 8,400,804 (3,388,548) Interest600,000 618,908 82,068 536,840 Total 2018 Hurricane Irma Loan600,000 5,631,164 8,482,872 (2,851,708) 2020 Revenue Note Principal750,000 750,000 440,000 310,000 Interest50,000 50,000 22,570 27,430 Total 2020 Revenue Note800,000 800,000 462,570 337,430 Key West Aiport Line of Credit Interest- 830,000 - 830,000 Other Debt Service Costs- 10,000 - 10,000 Total Key West Airport Line of Credit- 840,000 - 840,000 Total Expenditures14,297,252 20,168,416 21,842,389 (1,673,973) Excess/Deficiency of Revenues Over (Under) Expenditures(14,282,252) (20,153,416) (21,816,572) (1,663,156) Other Financing Sources (Uses): Reserve for Contingencies(500,000) (500,000) - 500,000 Reserve for Cash Balance(500,000) (500,000) - 500,000 Transfers from Other Funds13,497,252 19,368,416 21,701,990 2,333,574 Transfers from Constitutional Officers800,000 800,000 462,570 (337,430) Total Other Financing Sources (Uses)13,297,252 19,168,416 22,164,560 2,996,144 Net Change in Fund Balances (985,000)(985,000) 347,988 1,332,988 Fund Balances-October 1 985,000985,000 2,834,407 1,849,407 Fund Balances-September 30$ --$ 3,182,395$ 3,182,395$ F-5 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2021 SPECIAL TouristTourist AffordableDevelopmentDevelopmentTourist HousingAll DistrictsAdmin & PromoDevelopment ProgramsTwo CentTwo CentDistrict One ASSETS Cash and Cash Equivalents $ 1,686,68163,323$ 2,503,480$ 2,191,938$ Investments 9,385,138352,332 15,414,692 14,916,200 Accounts Receivable, Net -- - - Assessments Receivable -- - - Due from Other Funds -- - 6,366 Due from Other Governmental Units -- - - Due from Constitutional Officers 1,268,774- 2,606,772 1,851,866 Mortgages/Notes Receivable -- - - Allowance for Mortgages/Notes Receivable -- - - Interest Receivable 16,953636 27,436 26,196 Total Assets $ 12,357,546416,291$ 20,552,380$ 18,992,566$ LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ 361,912-$ 553,119$ 903,552$ Retainage Payable -- - 75,086 Accrued Wages and Benefits Payable -- 5,184 4,278 Due to Other Funds -- - 2,141 Due to Other Governmental Units -- - - Due to Constitutional Officers -- - - Deposits in Escrow -- - - Total Liabilities 361,912- 558,303 985,057 Deferred Inflows of Resources: Unavailable Revenues -- - - Total Deferred Inflows of Resources -- - - Fund Balances: Restricted416,291 11,995,634 19,994,077 17,780,267 Committed- - - 227,242 Assigned- - - - Unassigned- - - - Total Fund Balances416,291 11,995,634 19,994,077 18,007,509 Total Liabilities, Deferred Inflows of Resources, and Fund Balances416,291$ 12,357,546$ 20,552,380$ 18,992,566$ G-1 REVENUE FUNDS TouristTouristTouristTouristImpact Fees, DevelopmentDevelopmentDevelopmentDevelopmentImpact Fees,Parks, and District TwoDistrict ThreeDistrict FourDistrict FiveRoadwaysRecreation $ 978,165407,344$ 599,975$ 824,439$ 180,754$ 128,019$ 5,442,7142,365,018 3,338,405 4,506,285 1,005,685 712,306 -- - - - - -- - - - - -2,857 - 26,323 - - -- - - - - 662,770321,235 434,770 604,904 - - -- - - - - -- - - - - 9,8324,245 6,030 8,162 1,818 1,287 $ 7,093,4813,100,699$ 4,379,180$ 5,970,113$ 1,188,257$ 841,612$ $ 164,55115,847$ 37,206$ 82,351$ -$ -$ 49,473- - - - - -4,865 - 37,771 - - -- - - - - -- - - - - -- - - - - -- - - - - 214,02420,712 37,206 120,122 - - -- - - - - -- - - - - 6,879,4573,079,987 4,341,974 5,849,991 1,188,257 841,612 -- - - - - -- - - - - -- - - - - 6,879,4573,079,987 4,341,974 5,849,991 1,188,257 841,612 $ 7,093,4813,100,699$ 4,379,180$ 5,970,113$ 1,188,257$ 841,612$ (Continued) G-2 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING BALANCE SHEET (CONTINUED) NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2021 SPECIAL Fire & Amb District #1, Impact Fees,Impact Fees,Impact Fees,Lower and LibrariesSolid WasteFire & EMSMiddle Keys ASSETS Cash and Cash Equivalents $ 19,46838,715$ 26,386$ 1,218,744$ Investments 108,325215,341 146,815 4,117,436 Accounts Receivable, Net -- - 141,039 Assessments Receivable -- - - Due from Other Funds -- - 743,648 Due from Other Governmental Units -- - - Due from Constitutional Officers -- - 246,799 Mortgages/Notes Receivable -- - - Allowance for Mortgages/Notes Receivable -- - - Interest Receivable 196389 265 7,573 Total Assets $ 127,989254,445$ 173,466$ 6,475,239$ LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ -81,683$ -$ 121,093$ Retainage Payable -- - - Accrued Wages and Benefits Payable -- - 165,573 Due to Other Funds -- - - Due to Other Governmental Units -- - - Due to Constitutional Officers -- - - Deposits in Escrow -- - - Total Liabilities -81,683 - 286,666 Deferred Inflows of Resources: Unavailable Revenues -- - 19,044 Deferred Inflows of Resources -- - 19,044 Fund Balances: Restricted172,762 127,989 173,466 - Committed- - - - Assigned- - - 6,169,529 Unassigned- - - - Total Fund Balances172,762 127,989 173,466 6,169,529 Total Liabilities, Deferred Inflows of Resources, and Fund Balances254,445$ 127,989$ 173,466$ 6,475,239$ G-3 REVENUE FUNDS Unincorp.Unincorp. Area ServiceArea Service911Duck KeyLocal District,Dist., PlanningMunicipalEnhancementSecurityHousing Parks & Rec.Bldg. & ZoningPolicingFeesDistrictAssistance $ 1,310,307257,352$ 382,484$ 64,178$ 52,897$ 260,747$ 5,730,8071,758,588 2,128,236 - 294,323 1,510,210 1,9731,100 - - - - -- - - - - 759,63525,596 - - - - 236,58769,666 - - - - -44,995 51,184 - 526 - -- - - - 10,004,280 -- - - - (10,004,280) 10,4403,087 3,846 98 532 2,712 $ 8,049,7492,160,384$ 2,565,750$ 64,276$ 348,278$ 1,773,669$ $ 128,50382,376$ -$ -$ 8,194$ 61,273$ -- - - - - - 10,671 89,696217,780 - - 7,873- - - - - -- - - - - -140 - 62,616 - - 224,0424,182 - - - - 450,114304,478 - 62,616 8,194 71,944 -400 - - - - -400 - - - - 7,599,6351,855,506 2,565,750 1,660 340,084 1,701,725 -- - - - - -- - - - - -- - - - - 7,599,6351,855,506 2,565,750 1,660 340,084 1,701,725 $ 8,049,7492,160,384$ 2,565,750$ 64,276$ 348,278$ 1,773,669$ (Continued) G-4 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING BALANCE SHEET (CONTINUED) NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2021 SPECIAL MiscellaneousLaw BoatingSpecialEnvironmentalEnforcement ImprovementRevenueRestorationTrust ASSETS Cash and Cash Equivalents $ 485,821489,329$ 682,586$ 3,297,885$ Investments 2,746,8143,065,224 3,972,911 601,179 Accounts Receivable, Net 146- - - Assessments Receivable -- - - Due from Other Funds -- 59 - Due from Other Governmental Units -43,291 - - Due from Constitutional Officers 62,884- - 5,582 Mortgages/Notes Receivable -- - - Allowance for Mortgages/Notes Receivable -- - - Interest Receivable 4,9505,443 7,128 1,086 Total Assets $ 3,300,6153,603,287$ 4,662,684$ 3,905,732$ LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ 84,36230,710$ 5,068$ -$ Retainage Payable -- - - Accrued Wages and Benefits Payable 5364,948 7,571 - Due to Other Funds -- - - Due to Other Governmental Units -- - - Due to Constitutional Officers 26,086- - 7,610 Deposits in Escrow -- - - Total Liabilities 110,98435,658 12,639 7,610 Deferred Inflows of Resources: Unavailable Revenues -- - - Deferred Inflows of Resources -- - - Fund Balances: Restricted3,567,629 3,190,768 - 3,898,122 Committed- - 4,650,045 - Assigned- - - - Unassigned- (1,137) - - Total Fund Balances3,567,629 3,189,631 4,650,045 3,898,122 Total Liabilities, Deferred Inflows of Resources, and Fund Balances3,603,287$ 3,300,615$ 4,662,684$ 3,905,732$ G-5 REVENUE FUNDS CourtDrugMarathonMiddle KeysBay Point FacilityAbuseMunicipalHealth CareWastewater FeesTrustServiceMSTUMSTU $ 8,645734,934$ 420$ 64,814$ 7,381$ 48,0994,190,992 2,340 360,527 41,066 -- - - - -- - - - -5,867 - - - -- - - - 2,30747,729 - 38,725 - -- - - - -- - - - 877,543 4 651 74 $ 59,1384,987,065$ 2,764$ 464,717$ 48,521$ $ 11,538175,835$ -$ 464,717$ -$ -- - - - -4,400 - - - -- - - - -- - - - - - - - - -- - - - 11,538180,235 - 464,717 - -- - - - -- - - - 47,6004,806,830 2,764 - - -- - - 48,521 -- - - - -- - - - 47,6004,806,830 2,764 - 48,521 $ 59,1384,987,065$ 2,764$ 464,717$ 48,521$ (Continued) G-6 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING BALANCE SHEET (CONTINUED) NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2021 SPECIAL Big CoppittKey Largo WastewaterWastewaterStock IslandConch Key MSTUMSTUWastewaterMSTU ASSETS Cash and Cash Equivalents $ 1,39481$ 180,073$ 91$ Investments 7,756453 1,002,036 509 Accounts Receivable, Net -- - - Assessments Receivable -- 1,683,580 - Due from Other Funds -- - - Due from Other Governmental Units -- - - Due from Constitutional Officers -- 1,051 - Mortgages/Notes Receivable -- - - Allowance for Mortgages/Notes Receivable -- - - Interest Receivable 142 1,811 1 Total Assets $ 9,164536$ 2,868,551$ 601$ LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ --$ -$ -$ Retainage Payable -- - - Accrued Wages and Benefits Payable -- - - Due to Other Funds -- - - Due to Other Governmental Units -- - - Due to Constitutional Officers -- - - Deposits in Escrow -- - - Total Liabilities -- - - Deferred Inflows of Resources: Unavailable Revenues -- 1,638,463 - Deferred Inflows of Resources -- 1,638,463 - Fund Balances: Restricted- - 1,230,088 - Committed536 9,164 - 601 Assigned- - - - Unassigned- - - - Total Fund Balances536 9,164 1,230,088 601 Total Liabilities, Deferred Inflows of Resources, and Fund Balances536$ 9,164$ 2,868,551$ 601$ G-7 REVENUE FUNDS Long Key, LaytonDuck KeyCanal #266Building Road and MSTUMSTUMSBUFund Bridge $ 7,30140,359$ 6,109$ 630,120$ 1,477,228$ 40,626224,887 34,004 3,050,863 7,345,766 -- - 320 - -- - - - -- - 138,233 91,546 -- - - 594,637 -- - - - -- - - - -- - - - 73406 61 5,405 13,509 $ 48,000265,652$ 40,174$ 3,824,941$ 9,522,686$ $ --$ -$ 128,357$ 1,094,998$ -- - - 111,002 -- - 204,649 120,213 -- - - - -- - 20,732 - - - - - - -- - 8,110 - -- - 361,848 1,326,213 -- - - - -- - - - -- - 3,463,093 8,196,473 48,000265,652 40,174 - - -- - - - -- - - - 48,000265,652 40,174 3,463,093 8,196,473 $ 48,000265,652$ 40,174$ 3,824,941$ 9,522,686$ (Continued) G-8 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING BALANCE SHEET (CONTINUED) NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2021 CAPITAL Total NonmajorClerk'sInfrastructure Special RevRevenueRevenue Bonds FundsNoteSeries 2007 ASSETS Cash and Cash Equivalents $ 17,10421,309,967$ 28,304$ Investments 95,168100,184,908 157,497 Accounts Receivable, Net -144,578 - Assessments Receivable -1,683,580 - Due from Other Funds -1,800,130 - Due from Other Governmental Units -944,181 - Due from Constitutional Officers -8,252,873 - Mortgages/Notes Receivable -10,004,280 - Allowance for Mortgages/Notes Receivable -(10,004,280) - Interest Receivable 172179,981 285 Total Assets $ 112,444134,500,198$ 186,086$ LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable -4,597,245$ -$ Retainage Payable -235,561 - Accrued Wages and Benefits Payable -878,135 - Due to Other Funds -10,014 - Due to Other Governmental Units -20,732 - Due to Constitutional Officers -96,452 - Deposits in Escrow -236,334 - Total Liabilities -6,074,473 - Deferred Inflows of Resources: Unavailable Revenues -1,657,907 - Deferred Inflows of Resources -1,657,907 - Fund Balances: Restricted115,309,491 112,444 186,086 Committed5,289,935 - - Assigned6,169,529 - - Unassigned(1,137) - - Total Fund Balances126,767,818 112,444 186,086 Total Liabilities, Deferred Inflows of Resources, and Fund Balances134,500,198$ 112,444$ 186,086$ G-9 PROJECT FUNDS Total Big CoppittDuck KeyLong Key Land Nonmajor WastewaterWastewaterWastewaterAcquisitionGovernmental ProjectProjectProjectFundFunds $ 91,08629,324$ 2,495$ 146,281$ 21,624,561$ 506,817186,781 13,864 813,873 101,958,908 -- - - 144,578 326,3331,494,315 - - 3,504,228 -- - - 1,800,130 -- 382,498 - 1,326,679 184867 - - 8,253,924 -- - - 10,004,280 -- - - (10,004,280) 916331 25 1,469 183,179 $ 925,3361,711,618$ 398,882$ 961,623$ 138,796,187$ $ --$ -$ -$ 4,597,245$ -- - - 235,561 -- - - 878,135 -- - - 10,014 -- - - 20,732 -- - - 96,452 -- - - 236,334 -- - - 6,074,473 302,8261,374,575 - - 3,335,308 302,8261,374,575 - - 3,335,308 622,510337,043 398,882 961,623 117,928,079 -- - - 5,289,935 -- - - 6,169,529 -- - - (1,137) 622,510337,043 398,882 961,623 129,386,406 $ 925,3361,711,618$ 398,882$ 961,623$ 138,796,187$ G-10 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2021 SPECIAL TouristTourist AffordableDevelopmentDevelopmentTourist HousingAll DistrictsAdmin & PromoDevelopment ProgramsTwo CentTwo CentDistrict One Revenues: Taxes-$ 9,199,632$ 19,063,445$ 13,114,955$ Licenses and Permits- - - - Intergovernmental- - - - Charges for Services- - - - Fines and Forfeitures- - - - Investment Income919 16,422 24,937 32,922 Miscellaneous- - - - Total Revenues919 9,216,054 19,088,382 13,147,877 Expenditures: Current: General Government- - - - Public Safety- - - - Physical Environment- - - - Transportation- - - - Economic Environment- 3,861,536 8,730,659 8,846,859 Human Services- - - - Culture and Recreation- - - - Court Related- - - - Capital Projects- - - - Total Expenditures- 3,861,536 8,730,659 8,846,859 Excess/Deficiency of Revenues 10,357,723 4,301,018 Over (Under) Expenditures919 5,354,518 Other Financing Sources (Uses): Transfers from Other Funds- - - 6,366 Transfers to Other Funds- (72,713) (114,278) (202,756) Transfers from Constitutional Officers- 104,051 193,238 138,001 Total Other Financing Sources (Uses)- 31,338 78,960 (58,389) Net Change in Fund Balances 5,385,856919 10,436,683 4,242,629 Fund Balances-October 1 6,609,778415,372 9,557,394 13,764,880 $ 11,995,634416,291$ 19,994,077$ 18,007,509$ Fund Balances-September 30 G-11 REVENUE FUNDS TouristTouristTouristTouristImpact Fees, DevelopmentDevelopmentDevelopmentDevelopmentImpact Fees,Parks, and District TwoDistrict ThreeDistrict FourDistrict FiveRoadwaysRecreation $ 5,150,5322,349,939$ 3,170,633$ 4,477,016$ -$ -$ -- - - 109,138 32,300 -- - - - - -- - - - - -- - - - - 10,6745,360 6,560 6,876 3,673 1,203 -- - 7 - - 5,161,2062,355,299 3,177,193 4,483,899 112,811 33,503 -- - - - - -- - - - - -- - - - - -- - - 458,286 - 2,718,922880,220 1,354,855 2,251,509 - - - - -- - - -- - - - - -- - - - - -- - - - - 2,718,922880,220 1,354,855 2,251,509 458,286 - 2,442,2841,475,079 1,822,338 2,232,390 (345,475) 33,503 -2,857 - 4,378 - - (13,595)(14,975) (13,002) (26,318) - - 54,88024,497 33,386 46,526 - - 41,28512,379 20,384 24,586 - - 2,483,5691,487,458 1,842,722 2,256,976 (345,475) 33,503 4,395,8881,592,529 2,499,252 3,593,015 1,533,732 808,109 $ 6,879,4573,079,987$ 4,341,974$ 5,849,991$ 1,188,257$ 841,612$ (Continued) G-12 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (CONTINUED) NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2021 SPECIAL Fire & Amb District #1, Impact Fees,Impact Fees,Impact Fees,Lower and LibrariesSolid WasteFire and EMSMiddle Keys Revenues: Taxes-$ -$ -$ 13,069,581$ Licenses and Permits- - 16,491 - Intergovernmental- - - 125,703 Charges for Services- - - 767,314 Fines and Forfeitures- - - - Investment Income2,755 383 356 20,608 Miscellaneous- - - 49,158 Total Revenues2,755 383 16,847 14,032,364 Expenditures: Current: General Government- - - 611,662 Public Safety- - - 12,042,147 Physical Environment- - - - Transportation- - - - Economic Environment- - - - Human Services- - - - Culture and Recreation1,079,554 - - - Court Related- - - - Capital Projects- - - - Total Expenditures1,079,554 - - 12,653,809 Excess/Deficiency of Revenues 383 16,847 1,378,555 Over (Under) Expenditures(1,076,799) Other Financing Sources (Uses): Transfers from Other Funds- - - 743,648 Transfers to Other Funds- - - (1,173,710) Transfers from Constitutional Officers- - - 246,751 Total Other Financing Sources (Uses)- - - (183,311) Net Change in Fund Balances 383(1,076,799) 16,847 1,195,244 Fund Balances-October 1 127,6061,249,561 156,619 4,974,285 $ 127,989172,762$ 173,466$ 6,169,529$ Fund Balances-September 30 G-13 REVENUE FUNDS Unincorp.Unincorp. Area ServiceArea Service911Duck KeyLocal District,Dist., PlanningMunicipalEnhancementSecurityHousing Parks & Rec.Bldg. & ZoningPolicingFeesDistrictAssistance $ 487,1372,374,520$ 4,796,240$ -$ -$ -$ -- - - 114,602 - 2,564,822758,546 - - - 526,649 3,316,141174,805 4,084,273 457,993 - - 2,705,259- - - - - 18,4734,485 7,890 1,634 2,861 4,240 65,44029,760 - - - 291,196 9,157,2723,342,116 8,888,403 459,627 117,463 822,085 3,211,58569,733 224,835 - 1,000 - 3,676,952- 8,527,305 496,503 130,757 - 569,444- - - - - -- - - - - -- - - - 1,188,312 - - -- - - -2,617,334 - - - - -- - - - - -- - - - - 7,457,9812,687,067 8,752,140 496,503 131,757 1,188,312 1,699,291655,049 136,263 (36,876) (14,294) (366,227) 759,63525,596 - - - - (1,460,313)- - - - - -44,967 51,128 - 526 - (700,678)70,563 51,128 - 526 - 998,613725,612 187,391 (36,876) (13,768) (366,227) 6,601,0221,129,894 2,378,359 38,536 353,852 2,067,952 $ 7,599,6351,855,506$ 2,565,750$ 1,660$ 340,084$ 1,701,725$ (Continued) G-14 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (CONTINUED) NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2021 SPECIAL MiscellaneousLaw BoatingSpecialEnvironmentalEnforcement ImprovementRevenueRestorationTrust Revenues: Taxes-$ -$ -$ -$ Licenses and Permits- 52,244 - - Intergovernmental28,420 - - - Charges for Services759,309 505,541 - - Fines and Forfeitures- 306,298 613,704 - Investment Income7,475 7,141 9,894 16,541 Miscellaneous1,550 3 - 264,450 Total Revenues796,754 871,227 623,598 280,991 Expenditures: Current: General Government- - - - Public Safety- 263,482 - 723,082 Physical Environment565,088 - 283,871 - Transportation- - - - Economic Environment- - - - Human Services- 92,487 - - Culture and Recreation- 72,672 - - Court Related- 387,553 - - Capital Projects- - - - Total Expenditures565,088 816,194 283,871 723,082 Excess/Deficiency of Revenues (442,091) Over (Under) Expenditures231,666 55,033 339,727 Other Financing Sources (Uses): Transfers from Other Funds- - 59 - Transfers to Other Funds(3,131) - (34,602) - Transfers from Constitutional Officers- - - - Total Other Financing Sources (Uses)(3,131) - (34,543) - Net Change in Fund Balances 55,033228,535 305,184 (442,091) Fund Balances-October 1 3,134,5983,339,094 4,344,861 4,340,213 $ 3,189,6313,567,629$ 4,650,045$ 3,898,122$ Fund Balances-September 30 G-15 REVENUE FUNDS CourtDrugMarathonMiddle KeysBay Point FacilityAbuseMunicipalHealth CareWastewater FeesTrustServiceMSTUMSTU $ --$ -$ 2,024,793$ -$ -- - - - -- - - - 34,210591,792 - - - -- - - - 5269,971 32 805 81 -- - - - 34,736601,763 32 2,025,598 81 -- - 35,579 - -- - - - -- - - - -- - - - -- - - - 37,741- - 2,150,606 - -- - - - -382,580 - - - - - - - - 37,741382,580 - 2,186,185 - (3,005)219,183 32 (160,587) 81 -5,867 - - - -- - - - -- - 38,261 - -5,867 - 38,261 - (3,005)225,050 32 (122,326) 81 50,6054,581,780 2,732 122,326 48,440 $ 47,6004,806,830$ 2,764$ -$ 48,521$ (Continued) G-16 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (CONTINUED) NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2021 SPECIAL Big CoppittKey Largo WastewaterWastewaterStock IslandConch Key MSTUMSTUWastewaterMSTU Revenues: Taxes-$ -$ -$ -$ Licenses and Permits- - 107,472 - Intergovernmental- - - - Charges for Services- - - - Fines and Forfeitures- - - - Investment Income5 20 69,499 92 Miscellaneous- - 10,448 - Total Revenues5 20 187,419 92 Expenditures: Current: General Government- - 2,000 - Public Safety- - - - Physical Environment- - 2,672 - Transportation- - - - Economic Environment- - - - Human Services- - - - Culture and Recreation- - - - Court Related- - - - Capital Projects- - - - Total Expenditures- - 4,672 - Excess/Deficiency of Revenues 92 Over (Under) Expenditures5 20 182,747 Other Financing Sources (Uses): Transfers from Other Funds- - - - Transfers to Other Funds- - - - Transfers from Constitutional Officers- - 1,051 - Total Other Financing Sources (Uses)- - 1,051 - Net Change in Fund Balances 205 183,798 92 Fund Balances-October 1 9,144531 1,046,290 509 $ 9,164536$ 1,230,088$ 601$ Fund Balances-September 30 G-17 REVENUE FUNDS Long Key, LaytonDuck KeyCanal #266BuildingRoad and MSTUMSTUMSBUFundBridge $ --$ -$ -$ 3,000,677$ -- 28,973 5,879,586 - -- - - 3,713,038 -- - 124,364 3,870 -- - - - 131568 101 6,264 23,118 -- - 40,073 21,202 131568 29,074 6,050,287 6,761,905 -- - - - -- - 4,848,603 - 1,317912 18,489 - - -- - - 8,817,620 -- - - - -- - - - -- - - - -- - - - - - - - - 1,317912 18,489 4,848,603 8,817,620 (1,186)(344) 10,585 1,201,684 (2,055,715) -- - 138,233 91,546 -- - (184,159) (408,919) -- - - - -- - (45,926) (317,373) (1,186)(344) 10,585 1,155,758 (2,373,088) 49,186265,996 29,589 2,307,335 10,569,561 $ 48,000265,652$ 40,174$ 3,463,093$ $ 8,196,473 (Continued) G-18 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (CONTINUED) NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2021 CAPITAL Total NonmajorClerk'sInfrastructure Special RevRevenueRevenue Bonds FundsNoteSeries 2007 Revenues: Taxes82,279,100$ -$ -$ Licenses and Permits6,340,806 - - Intergovernmental7,717,178 - - Charges for Services10,819,612 - - Fines and Forfeitures3,625,261 - - Investment Income325,495 159 528 Miscellaneous773,287 - - Total Revenues111,880,739 159 528 Expenditures: Current: General Government4,156,394 - - Public Safety30,708,831 - - Physical Environment1,441,793 - - Transportation9,275,906 - - Economic Environment29,832,872 - - Human Services2,280,834 - - Culture and Recreation3,769,560 - - Court Related770,133 - - Capital Projects- - - Total Expenditures82,236,323 - - Excess/Deficiency of Revenues- Over (Under) Expenditures29,644,416 159 528 Other Financing Sources (Uses): Transfers from Other Funds1,778,185 - - Transfers to Other Funds(3,722,471) (2,500,000) - Transfers from Constitutional Officers977,263 - - (2,500,000) - Total Other Financing Sources (Uses)(967,023) Net Change in Fund Balances (2,499,841)28,677,393 528 Fund Balances-October 1 2,612,28598,090,425 185,558 $ 112,444126,767,818$ 186,086$ Fund Balances-September 30 G-19 PROJECT FUNDS Total Big CoppittDuck KeyLong KeyLand Nonmajor WastewaterWastewaterWastewater AcquisitionGovernmental ProjectProjectProjectFundFunds $ --$ -$ -$ 82,279,100$ 86,771358,021 - - 6,785,598 -- - 6,210 7,723,388 -- - - 10,819,612 -- - - 3,625,261 12,02945,775 2,116 1,651 387,753 6,57331,006 - 256,309 1,067,175 105,373434,802 2,116 264,170 112,687,887 -- - - 4,156,394 -- - - 30,708,831 -- - - 1,441,793 -- - - 9,275,906 -- - - 29,832,872 -- - - 2,280,834 -- - - 3,769,560 -- - - 770,133 35015,451 - 102,808 118,609 35015,451 - 102,808 82,354,932 105,023419,351 2,116 161,362 30,332,955 -- - - 1,778,185 -(681,999) (305,836) - (7,210,306) 184867 - - 978,314 184(681,132) (305,836) - (4,453,807) 105,207(261,781) (303,720) 161,362 25,879,148 517,303598,824 702,602 800,261 103,507,258 $ 622,510337,043$ 398,882$ 961,623$ 129,386,406$ G-20 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL AFFORDABLE HOUSING PROGRAMS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Investment Income3,000$ 3,000$ 919$ (2,081)$ Total Revenues3,000 3,000 919 (2,081) EXPENDITURES: Current: Economic Environment: Affordable Housing Initiatives290,000 290,000 - 290,000 Total Expenditures290,000 290,000 - 290,000 Excess/Deficiency of Revenues Over (Under) Expenditures(287,000) (287,000) 919 287,919 Other Financing Sources (Uses): Reserve for Contingencies(12,850) (12,850) - 12,850 Reserve for Cash Balance(15,000) (15,000) - 15,000 Total Other Financing Sources (Uses)(27,850) (27,850) - 27,850 Net Change in Fund Balances (314,850)(314,850) 919 315,769 Fund Balances-October 1 314,850314,850 415,372 100,522 Fund Balances-September 30 $ --$ 416,291$ 416,291$ G-21 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Taxes4,963,875$ 4,963,875$ 9,199,632$ 4,235,757$ Investment Income- - 16,422 16,422 Total Revenues4,963,875 4,963,875 9,216,054 4,252,179 EXPENDITURES: Current: Economic Environment: Cultural Umbrella864,756 864,756 472,882 391,874 Fishing Umbrella705,000 705,000 593,040 111,960 Dive Umbrella650,000 650,000 591,767 58,233 Operations - Events3,018,043 3,018,043 1,834,849 1,183,194 Catastrophic Emergency1,827,833 1,827,833 - 1,827,833 Special Projects1,535,961 1,535,961 368,998 1,166,963 Total Expenditures8,601,593 8,601,593 3,861,536 4,740,057 Excess/Deficiency of Revenues Over (Under) Expenditures(3,637,718) (3,637,718) 5,354,518 8,992,236 Other Financing Sources (Uses): Transfers to Other Funds(72,713) (72,713) (72,713) - Transfers from Constitutional Officers- - 104,051 104,051 Total Other Financing Sources (Uses)(72,713) (72,713) 31,338 104,051 Net Change in Fund Balances (3,710,431)(3,710,431) 5,385,856 9,096,287 Fund Balances-October 1 3,710,4313,710,431 6,609,778 2,899,347 Fund Balances-September 30 $ --$ 11,995,634$ 11,995,634$ G-22 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Taxes10,286,125$ 10,286,125$ 19,063,445$ 8,777,320$ Investment Income- - 24,937 24,937 Total Revenues10,286,125 10,286,125 19,088,382 8,802,257 EXPENDITURES: Current: Economic Environment: Advertising and Promotion9,506,433 9,506,433 8,452,977 1,053,456 Administrative Services1,339,490 1,339,490 277,682 1,061,808 Catastrophic Emergency1,626,982 1,626,982 - 1,626,982 Total Expenditures12,472,905 12,472,905 8,730,659 3,742,246 Excess/Deficiency of Revenues Over (Under) Expenditures(2,186,780) (2,186,780) 10,357,723 12,544,503 Other Financing Sources (Uses): Transfers to Other Funds(114,278) (114,278) (114,278) - Transfers from Constitutional Officers- - 193,238 193,238 Total Other Financing Sources (Uses)(114,278) (114,278) 78,960 193,238 Net Change in Fund Balances (2,301,058)(2,301,058) 10,436,683 12,737,741 Fund Balances-October 1 2,301,0582,301,058 9,557,394 7,256,336 Fund Balances-September 30 $ --$ 19,994,077$ 19,994,077$ G-23 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Taxes8,256,350$ 8,256,350$ 13,114,955$ 4,858,605$ Investment Income- - 32,922 32,922 Total Revenues8,256,350 8,256,350 13,147,877 4,891,527 EXPENDITURES: Current: Economic Environment: Advertising and Promotion5,150,242 5,150,242 4,884,794 265,448 Administrative Services474,666 474,666 402,089 72,577 Special Events680,462 680,462 147,163 533,299 Bricks and Mortar10,558,513 10,558,513 3,009,864 7,548,649 Information Services402,950 402,950 402,949 1 Beaches314,047 314,047 - 314,047 Total Expenditures17,580,880 17,580,880 8,846,859 8,734,021 Excess/Deficiency of Revenues Over (Under) Expenditures(9,324,530) (9,324,530) 4,301,018 13,625,548 Other Financing Sources (Uses): Transfers from Other Funds- - 6,366 6,366 Transfers to Other Funds(54,392) (54,392) (202,756) (148,364) Transfers from Constitutional Officers- - 138,001 138,001 Total Other Financing Sources (Uses)(54,392) (54,392) (58,389) (3,997) Net Change in Fund Balances (9,378,922)(9,378,922) 4,242,629 13,621,551 Fund Balances-October 1 9,378,9229,378,922 13,764,880 4,385,958 Fund Balances-September 30 $ --$ 18,007,509$ 18,007,509$ G-24 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Taxes962,275$ 962,275$ 2,349,939$ 1,387,664$ Investment Income- - 5,360 5,360 Total Revenues962,275 962,275 2,355,299 1,393,024 EXPENDITURES: Current: Economic Environment: Advertising and Promotion682,736 675,736 613,816 61,920 Administrative Services40,971 47,971 44,594 3,377 Bricks and Mortar1,025,655 1,025,655 121,262 904,393 Information Services100,548 100,548 100,548 - Total Expenditures1,849,910 1,849,910 880,220 969,690 Excess/Deficiency of Revenues Over (Under) Expenditures(887,635) (887,635) 1,475,079 2,362,714 Other Financing Sources (Uses): Transfers from Other Funds- - 2,857 2,857 Transfers to Other Funds(14,975) (14,975) (14,975) - Transfers from Constitutional Officers- - 24,497 24,497 Total Other Financing Sources (Uses)(14,975) (14,975) 12,379 27,354 Net Change in Fund Balances (902,610)(902,610) 1,487,458 2,390,068 Fund Balances-October 1 902,610902,610 1,592,529 689,919 Fund Balances-September 30 $ --$ 3,079,987$ 3,079,987$ G-25 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Taxes2,423,225$ 2,423,225$ 5,150,532$ 2,727,307$ Investment Income- - 10,674 10,674 Total Revenues2,423,225 2,423,225 5,161,206 2,737,981 EXPENDITURES: Current: Economic Environment: Advertising and Promotion1,273,673 1,273,673 1,209,075 64,598 Administrative Services123,408 123,408 111,898 11,510 Special Events26,000 26,000 - 26,000 Bricks and Mortar2,953,672 2,953,672 1,221,549 1,732,123 Information Services176,400 176,400 176,400 - Total Expenditures4,553,153 4,553,153 2,718,922 1,834,231 Excess/Deficiency of Revenues Over (Under) Expenditures(2,129,928) (2,129,928) 2,442,284 4,572,212 Other Financing Sources (Uses): Transfers to Other Funds(13,595) (13,595) (13,595) - Transfers from Constitutional Officers- - 54,880 54,880 Total Other Financing Sources (Uses)(13,595) (13,595) 41,285 54,880 Net Change in Fund Balances (2,143,523)(2,143,523) 2,483,569 4,627,092 Fund Balances-October 1 2,143,5232,143,523 4,395,888 2,252,365 Fund Balances-September 30 $ --$ 6,879,457$ 6,879,457$ G-26 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Taxes1,497,550$ 1,497,550$ 3,170,633$ 1,673,083$ Investment Income- - 6,560 6,560 Total Revenues1,497,550 1,497,550 3,177,193 1,679,643 EXPENDITURES: Current: Economic Environment: Advertising and Promotion961,818 951,818 901,166 50,652 Administrative Services65,067 75,067 69,051 6,016 Special Events37,249 37,249 22,076 15,173 Bricks and Mortar1,359,781 1,359,781 197,187 1,162,594 Information Services165,375 165,375 165,375 - Total Expenditures2,589,290 2,589,290 1,354,855 1,234,435 Excess/Deficiency of Revenues Over (Under) Expenditures(1,091,740) (1,091,740) 1,822,338 2,914,078 Other Financing Sources (Uses): Transfers to Other Funds(13,002) (13,002) (13,002) - Transfers from Constitutional Officers- - 33,386 33,386 Total Other Financing Sources (Uses)(13,002) (13,002) 20,384 33,386 Net Change in Fund Balances (1,104,742)(1,104,742) 1,842,722 2,947,464 Fund Balances-October 1 1,104,7421,104,742 2,499,252 1,394,510 Fund Balances-September 30 $ --$ 4,341,974$ 4,341,974$ G-27 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Taxes2,110,600$ 2,110,600$ 4,477,016$ 2,366,416$ Investment Income- - 6,876 6,876 Miscellaneous- - 7 7 Total Revenues2,110,600 2,110,600 4,483,899 2,373,299 EXPENDITURES: Current: Economic Environment: Advertising and Promotion1,650,743 1,650,743 1,474,747 175,996 Administrative Services107,159 107,159 97,916 9,243 Special Events16,640 16,640 - 16,640 Bricks and Mortar2,491,824 2,491,824 522,291 1,969,533 Information Services156,555 156,555 156,555 - Total Expenditures4,422,921 4,422,921 2,251,509 2,171,412 Excess/Deficiency of Revenues Over (Under) Expenditures(2,312,321) (2,312,321) 2,232,390 4,544,711 Other Financing Sources (Uses): Transfers from Other Funds- - 4,378 4,378 Transfers to Other Funds(26,318) (26,318) (26,318) - Transfers from Constitutional Officers- - 46,526 46,526 Total Other Financing Sources (Uses)(26,318) (26,318) 24,586 50,904 Net Change in Fund Balances (2,338,639)(2,338,639) 2,256,976 4,595,615 Fund Balances-October 1 2,338,6392,338,639 3,593,015 1,254,376 Fund Balances-September 30 $ --$ 5,849,991$ 5,849,991$ G-28 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - ROADWAYS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Licenses and Permits106,000$ 106,000$ 109,138$ 3,138$ Investment Income10,525 10,525 3,673 (6,852) Total Revenues116,525 116,525 112,811 (3,714) EXPENDITURES: Current: Transportation: Roadway Projects440,830 240,050 - 240,050 Truman Bridge Ped Bridge929,520 - - - Bike/Shared Use Path- 112,780 21,946 90,834 Bimini Drive Bridge- 1,017,520 436,340 581,180 Key Colony Beach Road Project41,926 41,926 - 41,926 Total Expenditures1,412,276 1,412,276 458,286 953,990 Excess/Deficiency of Revenues Over (Under) Expenditures(1,295,751) (1,295,751) (345,475) 950,276 Net Change in Fund Balances (1,295,751)(1,295,751) (345,475) 950,276 Fund Balances-October 1 1,295,7511,295,751 1,533,732 237,981 Fund Balances-September 30 $ --$ 1,188,257$ 1,188,257$ G-29 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Licenses and Permits41,200$ 41,200$ 32,300$ (8,900)$ Investment Income1,200 1,200 1,203 3 Total Revenues42,400 42,400 33,503 (8,897) EXPENDITURES: Current: Culture and Recreation: District 1 Projects240,716 240,716 - 240,716 District 2 Projects250,936 250,936 - 250,936 District 3 Projects234,482 34,482 - 34,482 Key Largo Pickleball- 200,000 - 200,000 Total Expenditures726,134 726,134 - 726,134 Excess/Deficiency of Revenues Over (Under) Expenditures(683,734) (683,734) 33,503 717,237 Net Change in Fund Balances (683,734)(683,734) 33,503 717,237 Fund Balances-October 1 683,734683,734 808,109 124,375 Fund Balances-September 30 $ --$ 841,612$ 841,612$ G-30 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - LIBRARIES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Investment Income2,700$ 2,700$ 2,755$ 55$ Total Revenues2,700 2,700 2,755 55 EXPENDITURES: Current: Culture and Recreation: County-wide Library Projects1,207,190 1,207,190 1,079,554 127,636 Library Automation25,000 25,000 - 25,000 Total Expenditures1,232,190 1,232,190 1,079,554 152,636 Excess/Deficiency of Revenues Over (Under) Expenditures(1,229,490) (1,229,490) (1,076,799) 152,691 Net Change in Fund Balances (1,229,490)(1,229,490) (1,076,799) 152,691 Fund Balances-October 1 1,229,4901,229,490 1,249,561 20,071 Fund Balances-September 30 $ --$ 172,762$ 172,762$ G-31 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Investment Income300$ 300$ 383$ 83$ Total Revenues300 300 383 83 EXPENDITURES: Current: Physical Environment: County-wide Solid Waste Projects115,804 115,804 - 115,804 Total Expenditures115,804 115,804 - 115,804 Excess/Deficiency of Revenues Over (Under) Expenditures(115,504) (115,504) 383 115,887 Net Change in Fund Balances (115,504)(115,504) 383 115,887 Fund Balances-October 1 115,504115,504 127,606 12,102 Fund Balances-September 30 $ --$ 127,989$ 127,989$ G-32 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Licenses and Permits15,700$ 15,700$ 16,491$ 791$ Investment Income131 131 356 225 Total Revenues15,831 15,831 16,847 1,016 EXPENDITURES: Current: Public Safety: District 1 Fire & EMS Project58,436 58,436 - 58,436 District 2 Fire & EMS Project4,891 4,891 - 4,891 District 3 Fire & EMS Project80,381 80,381 - 80,381 Key Colony Beach Fire & EMS1,088 1,088 - 1,088 Total Expenditures144,796 144,796 - 144,796 Excess/Deficiency of Revenues Over (Under) Expenditures(128,965) (128,965) 16,847 145,812 Net Change in Fund Balances (128,965)(128,965) 16,847 145,812 .. Fund Balances-October 1 128,965128,965 156,619 27,654 Fund Balances-September 30 $ --$ 173,466$ 173,466$ G-33 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FIRE AND AMBULANCE, DISTRICT #1 - LOWER AND MIDDLE KEYS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Taxes13,566,001$ 13,566,001$ 13,069,581$ (496,420)$ Intergovernmental38,000 38,000 125,703 87,703 Charges for Services650,000 650,000 767,314 117,314 Investment Income83,000 83,000 20,608 (62,392) Miscellaneous- - 49,158 49,158 Total Revenues14,337,001 14,337,001 14,032,364 (304,637) EXPENDITURES: Current: General Government: Tax Collector405,930 405,930 382,141 23,789 Property Appraiser230,036 230,036 229,521 515 Total General Government635,966 635,966 611,662 24,304 Public Safety: Fire Rescue - Central12,256,224 12,252,474 12,042,147 210,327 Total Public Safety12,256,224 12,252,474 12,042,147 210,327 Total Expenditures12,892,190 12,888,440 12,653,809 234,631 Excess/Deficiency of Revenues Over (Under) Expenditures1,444,811 1,448,561 1,378,555 (70,006) Other Financing Sources (Uses): Reserve for Contingencies(599,319) (599,319) - 599,319 Reserve for Cash Balance(1,228,773) (1,228,773) - 1,228,773 Transfers from Other Funds- - 743,648 743,648 Transfers to Other Funds(1,173,110) (1,176,860) (1,173,710) 3,150 Transfers from Constitutional Officers180,000 180,000 246,751 66,751 Total Other Financing Sources (Uses)(2,821,202) (2,824,952) (183,311) 2,641,641 Net Change in Fund Balances (1,376,391)(1,376,391) 1,195,244 2,571,635 Fund Balances-October 1 1,376,3911,376,391 4,974,285 3,597,894 Fund Balances-September 30 $ --$ 6,169,529$ 6,169,529$ G-34 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Taxes2,452,979$ 2,452,979$ 2,374,520$ (78,459)$ Intergovernmental536,352 537,191 758,546 221,355 Charges for Services- - 174,805 174,805 Investment Income6,000 6,000 4,485 (1,515) Miscellaneous55,000 55,000 29,760 (25,240) Total Revenues3,050,331 3,051,170 3,342,116 290,946 EXPENDITURES: Current: General Government: Tax Collector73,43973,439 69,733 3,706 Culture and Recreation: Parks and Beaches Unincorporated2,339,672 2,490,511 2,405,334 85,177 Jacob's Aquatic Center180,000 180,000 180,000 - School Board Interlocal32,000 32,000 32,000 - Total Culture and Recreation2,551,672 2,702,511 2,617,334 85,177 Total Expenditures2,625,111 2,775,950 2,687,067 88,883 Excess/Deficiency of Revenues Over (Under) Expenditures425,220 275,220 655,049 379,829 Other Financing Sources (Uses): Reserve for Contingencies(163,570) (13,570) - 13,570 Reserve for Cash Balance(183,747) (183,747) - 183,747 Transfers from Other Funds- - 25,596 25,596 Transfers to Other Funds(331,776) (331,776) - 331,776 Transfers from Constitutional Officers- - 44,967 44,967 (529,093) 70,563 599,656 Total Other Financing Sources (Uses)(679,093) Net Change in Fund Balances (253,873)(253,873) 725,612 979,485 Fund Balances-October 1 253,873253,873 1,129,894 876,021 Fund Balances-September 30 $ --$ 1,855,506$ 1,855,506$ G-35 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Taxes462,945$ 462,945$ 487,137$ 24,192$ Intergovernmental1,823,596 1,823,596 2,564,822 741,226 Charges for Services3,155,000 3,155,000 3,316,141 161,141 Fines and Forfeitures2,185,000 2,185,000 2,705,259 520,259 Investment Income125,000 125,000 18,473 (106,527) Miscellaneous- 54,691 65,440 10,749 Total Revenues7,751,541 7,806,232 9,157,272 1,351,040 Expenditures: Current: General Government: Property Appraiser41,117 41,617 41,582 35 Affordable Housing38,214 15,744 15,799 (55) Planning Department2,534,908 2,770,078 2,317,095 452,983 Planning Commission88,409 88,409 82,420 5,989 Planning Legal956,511 794,449 749,969 44,480 Planning Building Refunds20,000 20,000 4,720 15,280 Total General Government3,679,159 3,730,297 3,211,585 518,712 Public Safety: Code Enforcement1,908,807 1,880,107 1,608,534 271,573 Fire & Rescue Coordinator1,198,054 1,348,054 1,307,882 40,172 Fire Marshall808,462 808,462 760,536 47,926 Total Public Safety3,915,323 4,036,623 3,676,952 359,671 Physical Environment: Environmental Resources538,477 663,477 569,444 94,033 Total Physical Environment538,477 663,477 569,444 94,033 Total Expenditures8,132,959 8,430,397 7,457,981 972,416 Excess/Deficiency of Revenues Over (Under) Expenditures(381,418) (624,165) 1,699,291 2,323,456 (Continued) G-36 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) Other Financing Sources (Uses): Reserve for Contingencies(349,693) - - - Reserve for Cash Balance(1,300,000) (1,300,000) - 1,300,000 Transfers from Other Funds- - 759,635 759,635 Transfers to Other Funds(1,392,847) (1,499,793) (1,460,313) 39,480 Transfers from Constitutional Officers10,000 10,000 - (10,000) Total Other Financing Sources (Uses)(3,032,540) (2,789,793) (700,678) 2,089,115 Net Change in Fund Balances (3,413,958)(3,413,958) 998,613 4,412,571 Fund Balances-October 1 3,413,9583,413,958 6,601,022 3,187,064 Fund Balances-September 30$ --$ 7,599,635$ 7,599,635$ G-37 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL MUNICIPAL POLICING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Taxes4,959,208$ 4,959,208$ 4,796,240$ (162,968)$ Charges for Services4,078,030 4,214,085 4,084,273 (129,812) Investment Income21,000 21,000 7,890 (13,110) Total Revenues9,058,238 9,194,293 8,888,403 (305,890) EXPENDITURES: Current: General Government: Tax Collector148,326 148,326 140,852 7,474 Property Appraiser83,043 84,043 83,983 60 Total General Government231,369 232,369 224,835 7,534 Public Safety: Insurance Unincorporated & Layton617,731 617,731 529,411 88,320 Insurance Islamorada255,049 255,049 219,721 35,328 Insurance Marathon231,564 231,564 198,444 33,120 Sheriff Unincorporated & Layton4,082,808 4,082,818 4,082,808 10 Sheriff Islamorada1,867,379 1,867,379 1,867,379 - Sheriff Marathon1,629,542 1,765,597 1,629,542 136,055 Total Public Safety8,684,073 8,820,138 8,527,305 292,833 Total Expenditures8,915,442 9,052,507 8,752,140 300,367 Excess/Deficiency of Revenues Over (Under) Expenditures142,796 141,786 136,263 (5,523) Other Financing Sources (Uses): Reserve for Contingencies(177,924) (176,914) - 176,914 Reserve for Cash Balance(900,001) (900,001) - 900,001 Transfers to Other Funds(14,338) (14,338) - 14,338 Transfers from Constitutional Officers355,000 355,000 51,128 (303,872) Total Other Financing Sources (Uses)(737,263) (736,253) 51,128 787,381 Net Change in Fund Balances (594,467)(594,467) 187,391 781,858 Fund Balances-October 1 594,467594,467 2,378,359 1,783,892 Fund Balances-September 30$ --$ 2,565,750$ 2,565,750$ G-38 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL 911 ENHANCEMENT FEES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Charges for Services515,000$ 515,000$ 457,993$ (57,007)$ Investment Income300 300 1,634 1,334 Total Revenues515,300 515,300 459,627 (55,673) EXPENDITURES: Current: Public Safety: 911 Enhancement Fund190,105 190,105 200,198 (10,093) 911 Wireless325,195 325,195 296,305 28,890 Total Expenditures515,300 515,300 496,503 18,797 Excess/Deficiency of Revenues Over (Under) Expenditures- - (36,876) (36,876) Net Change in Fund Balances -- (36,876) (36,876) Fund Balances-October 1 -- 38,536 38,536 Fund Balances-September 30$ --$ 1,660$ 1,660$ G-39 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Licenses and Permits129,731$ 129,731$ 114,602$ (15,129)$ Investment Income4,500 4,500 2,861 (1,639) Total Revenues134,231 134,231 117,463 (16,768) EXPENDITURES: Current: General Government: Tax Collector1,100 1,100 1,000 100 Public Safety: Island Security155,723 155,723 130,757 24,966 Total Expenditures156,823 156,823 131,757 25,066 Excess/Deficiency of Revenues Over (Under) Expenditures(22,592) (22,592) (14,294) 8,298 Other Financing Sources (Uses): Reserve for Contingencies(15,000) (15,000) - 15,000 Reserve for Cash Balance(30,000) (30,000) - 30,000 Transfers from Constitutional Officers- - 526 526 Total Other Financing Sources (Uses)(45,000) (45,000) 526 45,526 Net Change in Fund Balances (67,592)(67,592) (13,768) 53,824 Fund Balances-October 1 67,59267,592 353,852 286,260 Fund Balances-September 30$ --$ 340,084$ 340,084$ G-40 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LOCAL HOUSING ASSISTANCE FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Intergovernmental475,000$ 475,000$ 526,649$ 51,649$ Investment Income10,000 10,000 4,240 (5,760) Miscellaneous180,000 180,000 291,196 111,196 Total Revenues665,000 665,000 822,085 157,085 EXPENDITURES: Current: Economic Environment: Homeowner Assistance2,623,192 1,810,000 940,374 869,626 Disaster Recovery & Mitigation554,055 830,753 247,938 582,815 Total Expenditures3,177,247 2,640,753 1,188,312 1,452,441 Excess/Deficiency of Revenues Over (Under) Expenditures(2,512,247) (1,975,753) (366,227) 1,609,526 Other Financing Sources (Uses): Reserve for Contingencies (15,000) (551,494) - 551,494 Reserve for Cash Balance(15,000) (15,000) - 15,000 Total Other Financing Sources (Uses)(30,000) (566,494) - 566,494 Net Change in Fund Balances (2,542,247)(2,542,247) (366,227) 2,176,020 Fund Balances-October 1 2,542,2472,542,247 2,067,952 (474,295) Fund Balances-September 30$ --$ 1,701,725$ 1,701,725$ G-41 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BOATING IMPROVEMENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Charges for Services755,000$ 755,000$ 759,309$ 4,309$ Intergovernmental- 28,420 28,420 - Investment Income40,000 40,000 7,475 (32,525) Miscellaneous- - 1,550 1,550 Total Revenues795,000 823,420 796,754 (26,666) EXPENDITURES: Current: Physical Environment: Boating Improvement1,229,698 1,250,287 262,517 987,770 Boating Imp Fees/Retained Vessel540,240 540,240 302,571 237,669 Total Expenditures1,769,938 1,790,527 565,088 1,225,439 Excess/Deficiency of Revenues Over (Under) Expenditures(974,938) (967,107) 231,666 1,198,773 Other Financing Sources (Uses): Reserve for Contingencies(200,000) (200,000) - 200,000 Reserve for Cash Balance(350,000) (350,000) - 350,000 Total Other Financing Sources (Uses)(550,000) (557,831) (3,131) 554,700 Net Change in Fund Balances (1,524,938)(1,524,938) 228,535 1,753,473 Fund Balances-October 1 1,524,9381,524,938 3,339,094 1,814,156 Fund Balances-September 30$ --$ 3,567,629$ 3,567,629$ G-42 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL MISCELLANEOUS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Licenses and Permits-$ 29,024$ 52,244$ 23,220$ Charges for Services- 305,347 505,541 200,194 Fines and Forfeitures- 64,818 306,298 241,480 Investment Income- - 7,141 7,141 Miscellaneous- - 3 3 Total Revenues- 399,189 871,227 472,038 EXPENDITURES: Current: Public Safety: Interagency Communications140,000 206,000 205,299 701 Education-Building Department88,400 116,964 39,050 77,914 Environmental Resource Education50,000 50,450 19,133 31,317 Fire and Rescue Bldg Educ5,000 5,010 - 5,010 Crime Prevention Program50,000 50,000 - 50,000 Total Public Safety333,400 428,424 263,482 164,942 Human Services: FL Keys Council for the Handicapped3,000 3,000 - 3,000 Bayshore Donations1,557 1,557 - 1,557 Traffic Educ, Ord 021-200250,000 99,405 72,788 26,617 Legal Aid- 19,764 19,699 65 Total Human Services54,557 123,726 92,487 31,239 Culture and Recreation: Settler's Park Landscaping2,633 2,633 - 2,633 59,693 - 59,693 Library Special Programs30,000 Library Donation-Golan Trust250,000 291,537 72,672 218,865 Total Culture and Recreation282,633 353,863 72,672 281,191 (Continued) G-43 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) MISCELLANEOUS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) Court Related: Teen Court - Ord 016-2004- 27,164 26,542 622 Ord 016-2004 St Court Sup28,600 45,764 22,872 22,892 SA Ct Tech FS28.24(12)(E)335,000 406,008 190,641 215,367 PD Ct Tech FS28.24(12)(E)100,000 147,338 33,547 113,791 J Ct Tech FS28.24(12)(E)100,437 218,781 113,951 104,830 Total Court Related564,037 845,055 387,553 457,502 Total Expenditures1,234,627 1,751,068 816,194 934,874 Excess/Deficiency of Revenues Over (Under) Expenditures(1,234,627) (1,351,879) 55,033 1,406,912 Other Financing Sources (Uses): Reserve for Contingencies(1,246,893) (1,112,477) - 1,112,477 Transfers to Other Funds- (17,164) - 17,164 Total Other Financing Sources (Uses)(1,246,893) (1,129,641) - 1,129,641 Net Change in Fund Balances (2,481,520)(2,481,520) 55,033 2,536,553 Fund Balances-October 1 2,481,5202,481,520 3,134,598 653,078 Fund Balances-September 30$ --$ 3,189,631$ 3,189,631$ G-44 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL ENVIRONMENTAL RESTORATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Fines and Forfeitures650,000$ 650,000$ 613,704$ (36,296)$ Investment Income15,000 15,000 9,894 (5,106) Total Revenues665,000 665,000 623,598 (41,402) EXPENDITURES: Current: Physical Environment: Environmental Restoration506,798 506,798 283,871 222,927 Total Physical Environment506,798 506,798 283,871 222,927 Culture and Recreation: Settler's Park9,083 9,083 - 9,083 Total Culture and Recreation9,083 9,083 - 9,083 Total Expenditures515,881 515,881 283,871 232,010 Excess/Deficiency of Revenues Over (Under) Expenditures149,119 149,119 339,727 190,608 Other Financing Sources (Uses): Reserve for Contingencies(63,175) (28,175) - 28,175 Reserve for Cash Balance(126,350) (126,350) - 126,350 Transfers from Other Funds- - 59 59 Transfers to Other Funds- (35,000) (34,602) 398 Total Other Financing Sources (Uses)(189,525) (189,525) (34,543) 154,982 Net Change in Fund Balances (40,406)(40,406) 305,184 345,590 Fund Balances-October 1 40,40640,406 4,344,861 4,304,455 Fund Balances-September 30$ --$ 4,650,045$ 4,650,045$ G-45 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LAW ENFORCEMENT TRUST SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Investment Income5,000$ 5,000$ 16,541$ 11,541$ Miscellaneous- 121,357 264,450 143,093 Total Revenues5,000 126,357 280,991 154,634 EXPENDITURES: Current: Public Safety: Law Enforcement4,646,801 4,783,158 723,082 4,060,076 Total Expenditures4,646,801 4,783,158 723,082 4,060,076 Excess/Deficiency of Revenues Over (Under) Expenditures(4,641,801) (4,656,801) (442,091) 4,214,710 Other Financing Sources (Uses): Reserve for Contingencies(30,000) (15,000) - 15,000 Reserve for Cash Balance(75,000) (75,000) - 75,000 Total Other Financing Sources (Uses)(105,000) (90,000) - 90,000 Net Change in Fund Balances (4,746,801)(4,746,801) (442,091) 4,304,710 Fund Balances-October 1 4,746,8014,746,801 4,340,213 (406,588) Fund Balances-September 30$ --$ 3,898,122$ 3,898,122$ G-46 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL COURT FACILITY FEES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Charges for Services475,000$ 475,000$ 591,792$ 116,792$ Investment Income40,000 40,000 9,971 (30,029) Total Revenues515,000 515,000 601,763 86,763 EXPENDITURES: Current: Court Related: Court Facility994,138 994,138 382,580 611,558 Total Expenditures994,138 994,138 382,580 611,558 Excess/Deficiency of Revenues Over (Under) Expenditures(479,138) (479,138) 219,183 698,321 Other Financing Sources (Uses): Reserve for Contingencies(50,000) (50,000) - 50,000 Reserve for Cash Balance(45,000) (45,000) - 45,000 Transfer from Other Funds- - 5,867 5,867 Total Other Financing Sources (Uses)(95,000) (95,000) 5,867 100,867 Net Change in Fund Balances (574,138)(574,138) 225,050 799,188 Fund Balances-October 1 574,138574,138 4,581,780 4,007,642 Fund Balances-September 30$ --$ 4,806,830$ 4,806,830$ G-47 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL DRUG ABUSE TRUST SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Charges for Services30,000$ 30,000$ 34,210$ 4,210$ Investment Income1,000 1,000 526 (474) Total Revenues31,000 31,000 34,736 3,736 EXPENDITURES: Current: Human Services: Drug Abuse Trust Fund57,000 57,000 37,741 19,259 Total Expenditures57,000 57,000 37,741 19,259 Excess/Deficiency of Revenues Over (Under) Expenditures(26,000) (26,000) (3,005) 22,995 Other Financing Sources (Uses): Reserve for Contingencies(5,000) (5,000) - 5,000 Total Other Financing Sources (Uses)(10,000) (10,000) - 10,000 Net Change in Fund Balances (36,000)(36,000) (3,005) 32,995 Fund Balances-October 1 36,00036,000 50,605 14,605 Fund Balances-September 30$ --$ 47,600$ 47,600$ G-48 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Investment Income-$ -$ 32$ 32$ Total Revenues- - 32 32 EXPENDITURES: Current: General Government: Tax Collector300 300 - 300 Physical Environment: Marathon Wastewater2,000 2,000 - 2,000 Total Expenditures2,300 2,300 - 2,300 Excess/Deficiency of Revenues Over (Under) Expenditures(2,300) (2,300) 32 2,332 Other Financing Sources (Uses): Reserve for Contingencies(275) (275) - 275 Total Other Financing Sources (Uses)(275) (275) - 275 Net Change in Fund Balances (2,575)(2,575) 32 2,607 Fund Balances-October 1 2,5752,575 2,732 157 Fund Balances-September 30$ --$ 2,764$ 2,764$ G-49 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL MIDDLE KEYS HEALTHCARE MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Taxes2,092,407$ 2,092,407$ 2,024,793$ (67,614)$ Investment Income- - 805 805 Total Revenues2,092,407 2,092,407 2,025,598 (66,809) EXPENDITURES: Current: General Government: Property Appraiser 35,65435,054 35,579 75 Human Services: Middle Keys Health Care 1,952,1331,952,733 2,150,606 (198,473) Total Expenditures1,987,787 1,987,787 2,186,185 (198,398) Excess/Deficiency of Revenues Over (Under) Expenditures104,620 104,620 (160,587) (265,207) Other Financing Sources (Uses): Transfers from Constitutional Officers- - 38,261 38,261 Total Other Financing Sources (Uses)- - 38,261 38,261 Net Change in Fund Balances 104,620104,620 (122,326) (226,946) Fund Balances-October 1 (104,620)(104,620) 122,326 226,946 Fund Balances-September 30$ --$ -$ -$ G-50 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BAY POINT WASTEWATER MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Investment Income-$ -$ 81$ 81$ Total Revenues- - 81 81 EXPENDITURES: Current: Physical Environment: Bay Point Wastewater46,139 46,139 - 46,139 Total Expenditures46,139 46,139 - 46,139 Excess/Deficiency of Revenues Over (Under) Expenditures(46,139) (46,139) 81 46,220 Other Financing Sources (Uses): Reserve for Contingencies(2,000) (2,000) - 2,000 Total Other Financing Sources (Uses)(2,000) (2,000) - 2,000 Net Change in Fund Balances (48,139)(48,139) 81 48,220 Fund Balances-October 1 48,13948,139 48,440 301 Fund Balances-September 30$ --$ 48,521$ 48,521$ G-51 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BIG COPPITT WASTEWATER MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Investment Income-$ -$ 5$ 5$ Total Revenues- - 5 5 EXPENDITURES: Current: Physical Environment: Big Coppitt Wastewater400 400 - 400 Total Expenditures400 400 - 400 Excess/Deficiency of Revenues Over (Under) Expenditures(400) (400) 5 405 Other Financing Sources (Uses): Reserve for Contingencies (68) (68) - 68 Total Other Financing Sources (Uses)(68) (68) - 68 Net Change in Fund Balances (468)(468) 5 473 Fund Balances-October 1 468468 531 63 Fund Balances-September 30$ --$ 536$ 536$ G-52 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Investment Income-$ -$ 20$ 20$ Total Revenues- - 20 20 EXPENDITURES: Current: Physical Environment: Key Largo Wastewater8,591 8,591 - 8,591 Total Expenditures8,591 8,591 - 8,591 Excess/Deficiency of Revenues Over (Under) Expenditures(8,591) (8,591) 20 8,611 Other Financing Sources (Uses): Reserve for Contingencies (500) (500) - 500 Total Other Financing Sources (Uses)(500) (500) - 500 Net Change in Fund Balances (9,091)(9,091) 20 9,111 Fund Balances-October 1 9,0919,091 9,144 53 Fund Balances-September 30$ --$ 9,164$ 9,164$ G-53 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL STOCK ISLAND WASTEWATER SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Licenses and Permits140,000$ 140,000$ 107,472$ (32,528)$ Investment Income15,000 15,000 69,499 54,499 Miscellaneous- - 10,448 10,448 Total Revenues155,000 155,000 187,419 32,419 EXPENDITURES: Current: General Government: Tax Collector Fees5,000 5,000 2,000 3,000 Physical Environment: Stock Island Wastewater816,595 816,595 2,672 813,923 Total Expenditures821,595 821,595 4,672 816,923 Excess/Deficiency of Revenues Over (Under) Expenditures(666,595) (666,595) 182,747 849,342 Other Financing Sources (Uses): Reserve for Contingencies(30,000) (30,000) - 30,000 Reserve for Cash Balance(50,000) (50,000) - 50,000 Transfers from Constitutional Officers400 400 1,051 651 Total Other Financing Sources (Uses)(79,600) (79,600) 1,051 80,651 Net Change in Fund Balances (746,195)(746,195) 183,798 929,993 Fund Balances-October 1 746,195746,195 1,046,290 300,095 Fund Balances-September 30$ --$ 1,230,088$ 1,230,088$ G-54 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Investment Income-$ -$ 92$ 92$ Total Revenues- - 92 92 EXPENDITURES: Current: Physical Environment: Conch Key MSTU409 409 - 409 Total Expenditures409 409 - 409 Excess/Deficiency of Revenues Over (Under) Expenditures(409) (409) 92 501 Other Financing Sources/(Uses): Reserve for Contingencies(100) (100) - 100 Total Other Financing Sources/(Uses)(100) (100) - 100 Net Change in Fund Balances (509)(509) 92 601 Fund Balances-October 1 509509 509 - Fund Balances-September 30$ --$ 601$ 601$ G-55 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Investment Income-$ -$ 568$ 568$ Total Revenues- - 568 568 EXPENDITURES: Current: Physical Environment: Long Key-Layton Wastewater213,587 213,587 912 212,675 Total Expenditures213,587 213,587 912 212,675 Excess/Deficiency of Revenues Over (Under) Expenditures(213,587) (213,587) (344) 213,243 Other Financing Sources (Uses): Reserve for Contingencies(15,000) (15,000) - 15,000 Reserve for Cash Balance(33,000) (33,000) - 33,000 Total Other Financing Sources (Uses)(48,000) (48,000) - 48,000 Net Change in Fund Balances (261,587)(261,587) (344) 261,243 Fund Balances-October 1 261,587261,587 265,996 4,409 Fund Balances-September 30$ --$ 265,652$ 265,652$ G-56 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Investment Income-$ -$ 131$ 131$ Total Revenues- - 131 131 EXPENDITURES: Current: Physical Environment: Duck Key Wastewater44,738 44,738 1,317 43,421 Total Expenditures44,738 44,738 1,317 43,421 Excess/Deficiency of Revenues Over (Under) Expenditures(44,738) (44,738) (1,186) 43,552 Other Financing Sources (Uses): Reserve for Contingencies(5,000) (5,000) - 5,000 Total Other Financing Sources (Uses)(5,000) (5,000) - 5,000 Net Change in Fund Balances (49,738)(49,738) (1,186) 48,552 Fund Balances-October 1 49,73849,738 49,186 (552) Fund Balances-September 30$ --$ 48,000$ 48,000$ G-57 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CANAL #266 MUNICIPAL SERVICE BENEFIT UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Licenses and Permits34,943$ 34,943$ 28,973$ (5,970)$ Investment Income- - 101 101 Total Revenues34,943 34,943 29,074 (5,869) EXPENDITURES: Current: Physical Environment: Tax Collector1,048 1,048 - 1,048 Canal #26631,841 31,841 18,489 13,352 Total Expenditures32,889 32,889 18,489 14,400 Excess/Deficiency of Revenues Over (Under) Expenditures2,054 2,054 10,585 8,531 Other Financing Sources (Uses): Reserve for Contingencies(5,001) (5,001) - 5,001 Reserve for Cash Balance(10,000) (10,000) - 10,000 Total Other Financing Sources (Uses)(15,001) (15,001) - 15,001 Net Change in Fund Balances (12,947)(12,947) 10,585 23,532 Fund Balances-October 1 12,94712,947 29,589 16,642 Fund Balances-September 30$ --$ 40,174$ 40,174$ G-58 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BUILDING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Licenses and Permits5,580,000$ 5,580,000$ 5,879,586$ 299,586$ Charges for Services120,000 120,000 124,364 4,364 Investment Income40,000 40,000 6,264 (33,736) Miscellaneous33,000 33,000 40,073 7,073 Total Revenues5,773,000 5,773,000 6,050,287 277,287 EXPENDITURES: Current: Public Safety Building Department4,797,215 5,231,715 4,760,994 470,721 Building Legal72,804 42,804 32,877 9,927 Building Refunds90,000 90,000 54,732 35,268 Total Expenditures4,960,019 5,364,519 4,848,603 515,916 Excess/Deficiency of Revenues Over (Under) Expenditures812,981 408,481 1,201,684 793,203 Other Financing Sources (Uses): Reserve for Contingencies(50,000) - - - Reserve for Cash Balance(981,067) (981,067) - 981,067 Transfer From Other Funds- - 138,233 138,233 Transfer to Other Funds(538,659) (184,159) (184,159) - Total Other Financing Sources (Uses)(1,569,726) (1,165,226) (45,926) 1,119,300 Net Change in Fund Balances (756,745)(756,745) 1,155,758 1,912,503 Fund Balances-October 1 756,745756,745 2,307,335 1,550,590 Fund Balances-September 30$ --$ 3,463,093$ 3,463,093$ G-59 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL ROAD AND BRIDGE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) Revenues: Taxes2,456,542$ 2,456,542$ 3,000,677$ 544,135$ Intergovernmental3,485,789 3,552,713 3,713,038 160,325 Charges for Services34,000 34,000 3,870 (30,130) Investment Income150,000 150,000 23,118 (126,882) Miscellaneous30,000 30,000 21,202 (8,798) Total Revenues6,156,331 6,223,255 6,761,905 538,650 Expenditures: Current: Transportation: Road Department4,198,699 4,258,633 3,751,996 506,637 County Engineer Road and Bridge652,283 752,283 718,796 33,487 Street Lighting183,618 183,618 140,296 43,322 Local Option Gas Tax Projects362,583 369,573 268,201 101,372 80% Gas Tax650,000 650,000 137,564 512,436 Roadway Projects3,137,194 5,834,751 3,145,854 2,688,897 Sugarloaf Blvd Bridge2,596,846 870,846 8,574 862,272 Sustainability Roads939,009 939,009 646,339 292,670 Total Transportation12,720,232 13,858,713 8,817,620 5,041,093 Total Expenditures12,720,232 13,858,713 8,817,620 5,041,093 Excess/Deficiency of Revenues Over (Under) Expenditures(6,563,901) (7,635,458) (2,055,715) 5,579,743 Other Financing Sources (Uses): Reserve for Contingencies(1,215,237) (143,680) - 143,680 Reserve for Cash Balance(2,202,476) (2,202,476) - 2,202,476 Transfers from Other Funds- - 91,546 91,546 Transfers to Other Funds(408,919) (408,919) (408,919) - Total Other Financing Sources (Uses)(3,826,632) (2,755,075) (317,373) 2,437,702 Net Change in Fund Balances (10,390,533)(10,390,533) (2,373,088) 8,017,445 Fund Balances-October 1 10,390,53310,390,533 10,569,561 179,028 Fund Balances-September 30$ --$ 8,196,473$ 8,196,473$ G60 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Investment Income-$ -$ 159$ 159$ Total Revenues- - 159 159 EXPENDITURES: Capital Projects100,000 100,000 - 100,000 Total Expenditures100,000 100,000 - 100,000 Excess/Deficiency of Revenues Over (Under) Expenditures(100,000) (100,000) 159 100,159 Other Financing Sources (Uses): Issuance of Debt2,500,000 2,500,000 - (2,500,000) Transfers to Other Funds(2,500,000) (2,500,000) (2,500,000) - Total Other Financing Sources (Uses)- - (2,500,000) (2,500,000) Net Change in Fund Balances (100,000)(100,000) (2,499,841) (2,399,841) Fund Balances-October 1 100,000100,000 2,612,285 2,512,285 Fund Balances-September 30$ --$ 112,444$ 112,444$ G61 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Investment Income-$ -$ 528$ 528$ Total Revenues- - 528 528 EXPENDITURES: Capital Projects- - - - Total Expenditures- - - - Excess/Deficiency of Revenues Over (Under) Expenditures- - 528 528 Other Financing Sources (Uses): Transfers to Other Funds(200,000) (200,000) - 200,000 Total Other Financing Sources (Uses)(200,000) (200,000) - 200,000 Net Change in Fund Balances (200,000)(200,000) 528 200,528 Fund Balances-October 1 200,000200,000 185,558 (14,442) Fund Balances-September 30$ --$ 186,086$ 186,086$ G62 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BIG COPPITT WASTEWATER CAPITAL PROJECT FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Licenses and Permits330,000$ 330,000$ 358,021$ 28,021$ Investment Income5,000 5,000 45,775 40,775 Miscellaneous Income- - 31,006 31,006 Total Revenues335,000 335,000 434,802 99,802 EXPENDITURES: Current: Capital Outlay: Physical Environment: Big Coppitt Refunds5,000 5,000 - 5,000 Big Coppitt Special Assessment25,000 25,000 15,451 9,549 Total Physical Environment30,000 30,000 15,451 14,549 Total Capital Outlay Expenditures30,000 30,000 15,451 14,549 Excess/Deficiency of Revenues Over (Under) Expenditures305,000 305,000 419,351 114,351 Other Financing Sources (Uses): Transfers from Constitutional Officers- - 867 867 Transfers to Other Funds(682,000) (682,000) (681,999) 1 Total Other Financing Sources (Uses)(682,000) (682,000) (681,132) 868 Net Change in Fund Balances (377,000)(377,000) (261,781) 115,219 Fund Balances-October 1 377,000377,000 598,824 221,824 Fund Balances-September 30$ --$ 337,043$ 337,043$ G-63 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Licenses and Permits80,000$ 80,000$ 86,771$ 6,771$ Investment Income3,500 3,500 12,029 8,529 Miscellaneous- - 6,573 6,573 Total Revenues83,500 83,500 105,373 21,873 EXPENDITURES: Capital Projects35,000 35,000 350 34,650 Total Expenditures35,000 35,000 350 34,650 Excess/Deficiency of Revenues Over (Under) Expenditures48,500 48,500 105,023 56,523 Other Financing Sources (Uses): Reserve for Contingencies(82,100) (82,100) - 82,100 Reserve for Cash Balance(45,225) (45,225) - 45,225 Transfer From Other Funds- - 184 184 Total Other Financing Sources (Uses)(127,325) (127,325) 184 127,509 Net Change in Fund Balances (78,825)(78,825) 105,207 184,032 Fund Balances-October 1 78,82578,825 517,303 438,478 Fund Balances-September 30$ --$ 622,510$ 622,510$ G64 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS 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, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Investment Income-$ -$ 2,116$ 2,116$ Total Revenues- - 2,116 2,116 EXPENDITURES: Capital Projects- - - - Total Expenditures- - - - Excess/Deficiency of Revenues Over (Under) Expenditures- - 2,116 2,116 Other Financing Sources (Uses): Transfer to Other Funds(305,836) (305,836) (305,836) - Total Other Financing Sources (Uses)(305,836) (305,836) (305,836) - Net Change in Fund Balances (305,836)(305,836) (303,720) 2,116 Fund Balances-October 1 305,836305,836 702,602 396,766 Fund Balances-September 30$ --$ 398,882$ 398,882$ G65 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LAND ACQUISITION FUND CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTEMBER 30, 2021 Variance with Final Budget OriginalFinalPositive BudgetBudgetActual(Negative) REVENUES: Intergovernmental Revenue-$ -$ 6,210$ 6,210$ Investment Income20,000 20,000 1,651 (18,349) Miscellaneous Income- - 256,309 256,309 Total Revenues20,000 20,000 264,170 244,170 EXPENDITURES: Capital Projects711,548 711,548 102,808 608,740 Total Expenditures711,548 711,548 102,808 608,740 Excess/Deficiency of Revenues Over (Under) Expenditures(691,548) (691,548) 161,362 852,910 Net Change in Fund Balances (691,548)(691,548) 161,362 852,910 Fund Balances-October 1 691,548691,548 800,261 108,713 Fund Balances-September 30$ --$ 961,623$ 961,623$ G66 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF NET POSITION INTERNAL SERVICE FUNDS SEPTEMBER 30, 2021 Workers'GroupRisk CompensationInsuranceManagement FundFundFund ASSETS Current Assets: Cash and Cash Equivalents$ 1,830,735495,988$ 562,008$ Investments 12,935,5333,768,191 4,749,061 Accounts Receivable, Net 56,785- 2,049 Due from Other Funds 4,0162,818 - Due from Other Governmental Units 101,2145,651 10 Due from Constitutional Officers 226,81712,953 17,280 Interest Receivable 22,6106,498 8,132 Total Current Assets 15,177,7104,292,099 5,338,540 Noncurrent Assets: Land and Other Nondepreciable Assets -- - Capital Assets, Net of Accum. Depreciation 20,245845 26,727 Total Noncurrent Assets 20,245845 26,727 Total Assets 15,197,9554,292,944 5,365,267 DEFERRED OUTFLOWS OF RESOURCES Related to Pensions 77,25853,467 90,218 Related to OPEB 12,700800 10,600 Total Deferred Outflows of Resources 89,95854,267 100,818 LIABILITIES Current Liabilities: Accounts Payable 856,83411,467 72,745 Accrued Wages and Benefits Payable 19,81213,166 14,857 Claims and Judgments Payable 1,051,3471,543,302 853,210 Due to Other Funds 551- - Due from Constitutional Officers 1,063- - Unearned Revenues 3,723- - Accrued Comp. Absences Payable 6,3052,890 4,811 Total Current Liabilities 1,939,6351,570,825 945,623 Noncurrent Liabilities: Accrued Comp. Absences Payable 25,21911,559 19,245 OPEB Liability 32,0005,000 66,000 Net Pension Liability 108,29286,363 52,197 Total Noncurrent Liabilities 165,511102,922 137,442 Total Liabilities 2,105,1461,673,747 1,083,065 DEFERRED INFLOWS OF RESOURCES Related to Pensions 165,547114,266 210,470 Related to OPEB 2,600200 2,200 Total Deferred Inflows of Resources 168,147114,466 212,670 NET POSITION Investment in Capital Assets 20,245845 26,727 Unrestricted 12,994,3752,558,153 4,143,623 Total Net Position $ 13,014,6202,558,998$ 4,170,350$ H-1 Fleet Management FundTotal $ 3,349,777461,046$ 23,753,2872,300,502 58,834- 52,36545,531 113,0916,216 262,7765,726 41,4724,232 27,631,6022,823,253 54,00054,000 648,092600,275 702,092654,275 28,333,6943,477,528 670,436449,493 125,100101,000 795,536550,493 965,37124,325 147,73699,901 3,447,859- 551- 1,063- 3,723- 49,14235,136 4,615,445159,362 196,566140,543 382,000279,000 350,365103,513 928,931523,056 5,544,376682,418 1,488,595998,312 25,60020,600 1,514,1951,018,912 702,092654,275 21,368,5671,672,416 $ 22,070,6592,326,691$ H-2 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2021 Workers'GroupRisk CompensationInsuranceManagement FundFundFund Operating Revenues: Charges for Services2,171,794$ 18,349,773$ 5,294,580$ Miscellaneous258,218 467,347 62,960 Total Operating Revenues2,430,012 18,817,120 5,357,540 Operating Expenses: Personnel Services206,518 281,514 281,046 Operations360,354 2,175,866 3,387,581 Depreciation and Amortization260 5,391 3,623 Asserted and Paid Claims1,678,053 17,423,291 890,192 Total Operating Expenses2,245,185 19,886,062 4,562,442 Operating Income (Loss)184,827 (1,068,942) 795,098 Other Financing Sources (Uses): Operating Grants- - - Investment Income9,676 38,102 12,261 Total Other Financing Sources (Uses):9,676 38,102 12,261 Income (Loss) Before Transfers194,503 (1,030,840) 807,359 Total Transfers: Transfers from Other Funds2,818 4,016 - Transfers to Other Funds- (127,936) (133,720) Total Transfers2,818 (123,920) (133,720) Change in Net Position (1,154,760)197,321 673,639 Net Position-October 1 14,169,3802,361,677 3,496,711 Net Position-September 30$ 13,014,6202,558,998$ 4,170,350$ H-3 Fleet Management FundTotal $ 29,454,6163,638,469$ 794,7776,252 30,249,3933,644,721 2,279,5201,510,442 7,121,6751,197,874 87,14777,873 19,991,536- 29,479,8782,786,189 769,515858,532 4,3704,370 68,9078,868 73,27713,238 842,792871,770 52,36545,531 (261,656)- (209,291)45,531 633,501917,301 21,437,1581,409,390 $ 22,070,6592,326,691$ H-4 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2021 Workers'GroupRisk CompensationInsuranceManagement FundFundFund Operating Activities: Cash Received for Services2,171,794$ 18,360,879$ 5,292,780$ Cash Payments to Suppliers for Goods and Svcs(351,681) (3,117,986) (3,392,603) Cash Payments for Employee Services(244,639) (357,358) (338,979) Cash Payments for Claims(1,775,139) (17,434,467) (716,992) Cash Received from (Paid to) Other Sources(10,662) (166,948) 13,346 Other Operating Revenue251,761 444,955 54,975 Net Cash Provided by (Used in) Operating Activities41,434 (2,270,925) 912,527 Noncapital Financing Activities: Operating Grants Received- - - Transfers from Other Funds2,818 4,016 - Transfers to Other Funds- (127,936) (133,720) Net Cash Provided by (Used in) Noncapital Financing Activities2,818 (123,920) (133,720) Capital and Related Financing Activities: Acquisition of Capital Assets(1,105) (1,500) (4,227) Net Cash Provided by (Used in) Capital and . Related Financing Activities(1,105) (1,500) (4,227) Investing Activities: Investment Income9,676 38,102 12,261 Proceeds from Sales and Maturities of Investments3,079,009 13,893,242 2,957,734 Purchase of Investment Securities(3,316,541) (12,423,466) (3,891,553) Net Cash Provided by (Used in) Investing Activities(227,856) 1,507,878 (921,558) d Net Increase (Decrease) in Cash an Cash Equivalents (888,467)(184,709) (146,978) Cash and Cash Equivalents: October 1680,697 2,719,202 708,986 September 30495,988$ 1,830,73$ 562,0085$ H-5 Fleet Management FundTotal $ 29,463,9223,638,469$ (8,062,248)(1,199,978) (2,883,815)(1,942,839) (19,926,598)- (827,850)(663,586) 753,7452,054 (1,482,844)(165,880) 4,3704,370 52,36545,531 (261,656)- (204,921)49,901 (40,976)(34,144) (40,976)(34,144) 68,9078,868 22,305,0982,375,113 (21,811,091)(2,179,531) 562,914204,450 (1,165,827)54,327 4,515,604406,719 $ 7 $ 3,349,77461,046 (Continued) H-6 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF CASH FLOWS (CONTINUED) INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2021 Workers'GroupRisk CompensationInsuranceManagement FundFundFund Reconciliation of Operating Income (Loss) to Net Cash Provided by (Used in) Operating Activities: Operating Income (Loss)184,827$ (1,068,942)$ 795,098$ Adjustments to Reconcile Operating Income (Loss) to Net Cash Provided by (Used in) Operating activities: Depreciation and Amortization260 5,391 3,623 Change in Assets, Liabilities, and Deferrals: (Increase) Decrease in Accounts Receivable- 11,106 (1,800) (Increase) Decrease in Due from Other Funds(2,818) (4,016) - (Increase) Decrease in Due from Other Gov't Units(5,503) 1,429 30,626 (Increase) Decrease in Due fm Constitutional Ofcrs4,626 (165,966) (17,280) (Increase) Decrease in Interest Receivable(6,457) (22,392) (7,985) Increase (Decrease) in Accounts Payable8,673 (945,843) (5,022) Increase (Decrease) in Accrued Wages/Benefits 10,868 16,255 10,762 Increase (Decrease) in Claims/Judgments Payable(97,086) (11,176) 173,200 Increase (Decrease) in Due to Other Funds- 551 - Increase (Decrease) in Due to Other Gov't Units(6,967) 1,054 - Increase (Decrease) in Comp. Absences Payable(22,587) (22,843) (56,904) Increase (Decrease) in Unearned Revenue- 3,723 - Increase (Decrease) in OPEB Liability1,000 5,000 (2,000) Increase (Decrease) in Pension Liability(145,923) (211,496) (272,282) Increase (Decrease) in Deferred Outflows11,877 26,328 66,589 Increase (Decrease) in Deferred Inflows106,644 110,912 195,902 Total Adjustments(143,393) (1,201,983) 117,429 Net Cash Provided by (Used in) Operating Activities$ (2,270,92541,434$ 912,527)$ Cash Reconciliation: Unrestricted495,988$ 1,830,73$ 562,0085$ H-7 Fleet Management FundTotal $ 769,515858,532$ 87,14777,873 9,306- (52,365)(45,531) 31,1674,615 (184,346)(5,726) (41,032)(4,198) (944,296)(2,104) 118,45880,573 64,938- (616,388)(616,939) (5,918)(5) (105,959)(3,625) 3,723- 32,00028,000 (1,912,056)(1,282,355) 186,12481,330 1,077,138663,680 (2,252,359)(1,024,412) $ ) $ (1,482,844(165,880) $ 3,349,77461,046$ 7 H-8 MONROECOUNTY,FLORIDA COMPREHENSIVEPLANLANDAUTHORITY (AComponentUnitofMonroeCounty,Florida) STATEMENTOFNETPOSITION SEPTEMBER30,2021 ASSETSANDDEFERREDOUTFLOWSOFRESOURCES Assets: Cash and investments$ 21,069,138 Due from BOCC1,163,858 Due from state of Florida26,078 Mortgages receivable8,769,025 Deposits 179,500 Equipment, net of accumulated depreciation11,728 Capital assets - land34,675,944 Intangible assets15,696,806 Total Assets 81,592,077 Deferred Outflows of Resources: Pension137,381 Other postemployment benefits13,157 Total Deferred Outflows 150,538 LIABILITIES,DEFERREDINFLOWSOFRESOURCES,ANDNETPOSITION Current Liabilities: Accounts payable 9,149 Accrued wages35,795 Compensated absences42,146 Total Current Liabilities 87,090 Noncurrent Liabilities: Compensated absences134,589 Net pension liability176,411 Other postemployment benefits liability54,000 Total Noncurrent Liabilities 365,000 Total Liabilities 452,090 Deferred Inflows of Resources: Pension 237,196 Other postemployment benefits 41,592 Total Deferred Inflows 278,788 Net Position: Investment in capital assets50,384,478 Restricted13,891,925 Unrestricted 16,735,334 Total Net Position$ 81,011,737 The accompanying notes to the financial statements are an integral part of this statement. MONROECOUNTY,FLORIDA COMPREHENSIVEPLANLANDAUTHORITY (AComponentUnitofMonroeCounty,Florida) STATEMENTOFACTIVITIES YEARENDEDSEPTEMBER30,2021 General Revenues: Intergovernmental$ 7,780,532 Investment income25,629 Miscellaneous income473,504 Land contributions218,421 Total General Revenues8,498,086 Program Expenses: General government600,324 Land contribution conveyances 483,583 Total Program Expenses 1,083,907 Increase in net position 7,414,179 Net position, beginning of year73,597,558 The accompanying notes to the financial statements are an integral part of this statement. ReportofIndependentAuditoronInternalControloverFinancialReportingandon ComplianceandOtherMattersBasedonanAuditofFinancialStatements PerformedinAccordancewith GovernmentAuditingStandards To the Clerk Ex Officio, Mayor Board of County Commissioners Monroe County, Florida We have audited, in accordance with auditing standards generally accepted in the United States of America and the standards applicable to the financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of each major fund and the aggregate remaining fund information of the Monroe County, Florida Board of County Commissioners (the "Board") as of and for the year ended September 30, 2021, and the related notes to the financial statements, which collectively comprise the BoardÓs basic financial statements, and have issued our report thereon dated March 31, 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 statements, we considered the BoardÓs internal control over financial reporting (Ðinternal controlÑ) as a basis for designing the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the BoardÓs internal control. Accordingly, we do not express an opinion on the effectiveness of the BoardÓs 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 BoardÓs 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. We did identify a certain deficiency in internal control, described in the accompanying schedule of findings and recommendations as item 2021-002 that we consider to be a material weakness. ComplianceandOtherMatters As part of obtaining reasonable assurance about whether the Board's financial statements are free from 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. J-1 ĭĬŷ͵ĭƚƒ MonroeCounty,FloridaBoardofCounty/ƚƒƒźƭƭźƚƓĻƩƭ͸ResponsetoFinding Monroe County, Florida Board of County CommissionersÓ response to the finding identified in our audit is described in the accompanying schedule of findings and recommendations. Monroe County, Florida Board of County CommissionersÓ response was not subjected to the auditing procedures applied in the audit of the financial statements and, accordingly, we express no opinion on purpose. 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 not to provide an opinion on the effectiveness of the BoardÓs internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the BoardÓs internal control and compliance. Accordingly, this communication is not suitable for any other purpose. Tampa, Florida March 31, 2022 J-2 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS SCHEDULE OF FINDINGS AND RECOMMENDATIONS YEAR ENDED SEPTEMBER 30, 2021 Finding 2021-001 Material Weakness in Internal Control over Construction in Progress Recognition Criteria: The County is responsible for establishing and maintaining internal controls over financial reporting including distinguishing period expenses from construction in progress (capital asset) additions. Condition: During the year ended September 30, 2020, the County added $7,381,343 of expenditures as construction in progress for capital projects even though the County did not acquire title upon completion of construction. During fiscal year 2021, another $4,598,794 of such expenditures were recorded in construction in progress prior to the County realizing that such costs should be expensed, after which the County corrected the error. Effect: To restate capital assets and net position as of September 30, 2020 resulting in a reduction of previously reported capital assets and net position in the amount $7,381,343. The 2021 recording error of $4,598,794 was corrected during the fiscal year. Cause: Management determined that a previous policy to capitalize certain costs related to capital outlays whether or not the County would retain the title to the asset upon completion of construction, was in error. However, once management realized this incorrect accounting treatment, corrective action was taken. Recommendation: We recommend that the County revise the capitalization policy over capital assets to ensure that only expenditures related to capital projects owned by the County are included as construction in progress and other items are expensed in the proper period. ManagementÓs Response: We agree with the finding. J-3 CORRECTIVE ACTION PLAN Material Weakness Finding 2021-001 Î Material Weakness in Internal Control over Construction-in-Progress Recognition Name of Contact Person: Pam Radloff, Finance Director Corrective Action: The County revised its policy so capital outlays that result in the County not having title to the completed project will be expensed annually rather than classified as construction in progress. In addition, the County updated its construction in progress schedule so staff are asked to review whether the County will be acquiring the assetÓs title upon completion of construction. The revised schedule requires the preparer to expense, rather than capitalize, the capital outlay if the answer to this question is no. Proposed Completion Date: Immediately Independent!ǒķźƷƚƩ͸ƭManagementLetter To the Clerk Ex Officio, Mayor Board of County Commissioners Monroe County, Florida Report on the Financial Statements We have audited the financial statements of each major fund and the aggregate remaining fund information of the Monroe County, Florida Board of County Commissioners (the "Board") as of and for the year ended September 30, 2021 and have issued our report thereon dated March 31, 2022. AuditorÓs 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; 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; and our Report of Independent Accountant on Compliance with Local Government Investment Policies regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those reports, which are dated March 31, 2022, should be considered in conjunction with this management letter. Prior Audit Findings Section 10.554(1)(i)1., Rules of the Auditor General, requires that we determine whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report. There were no findings noted in the preceding annual financial report. 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 Section 10.554(1)(i)2., Rules of the Auditor General, requires that we address in the management letter any recommendations to improve financial management. In connection with our audit, we did not have any such recommendations. 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. J- ĭĬŷ͵ĭƚƒ 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. Tampa, Florida March 31, 2022 J- ReportofIndependentAccountantonCompliance withLocalGovernmentInvestmentPolicies To the Clerk Ex Officio, Mayor Board of County Commissioners Monroe County, Florida We have examined the Monroe County, Florida Board of County CommissionersÓ (the ÐBoardÑ) compliance with the local government investment policy requirements of Section 218.415, Florida Statutes, for the year ended September 30, 2021. Management of the Board is responsible for the BoardÓs compliance with the specified requirements. Our responsibility is to express an opinion on the BoardÓs 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 Board complied, in all material respects, with the specified requirements referenced above. An examination involves performing procedures to obtain evidence about whether the Board 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 BoardÓs compliance with the specified requirements. In our opinion, the Board 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 31, 2022 J- ĭĬŷ͵ĭƚƒ