Item D15 D15
BOARD OF COUNTY COMMISSIONERS
COUNTY of MONROE Mayor Craig Cates,District 1
The Florida Keys Mayor Pro Tern Holly Merrill Raschein,District 5
Michelle Lincoln,District 2
James K.Scholl,District 3
David Rice,District 4
Board of County Commissioners Meeting
July 19, 2023
Agenda Item Number: D15
2023-1229
BULK ITEM: Yes DEPARTMENT: Budget and Finance
TIME APPROXIMATE: STAFF CONTACT: Tina Boan
AGENDA ITEM WORDING: Approval to close obsolete Wastewater ad valorem Funds 176, Duck
Key Municipal Service Taxing Unit(MSTU); 175, Long Key Layton MSTU; 174, Conch Key MSTU;
171, Stock Island MSTU; 170, Key Largo MSTU; 169, Big Coppitt; 168, Bay Point MSTU; 166,
Marathon MSTU; and unneeded capital project funds 310, Big Coppitt wastewater; 311 Duck Key
wastewater; 312, Cudjoe Regional wastewater; 315, Long Key wastewater, and request that the Clerk of
the Court transfer the remaining residual funds to Fund 304, Once Cent Infrastructure Sales Surtax.
ITEM BACKGROUND:
Funds 166, 168, 169, 170, 171, 174, 175, & 176 were created by various Ordinances to levy and collect
additional ad valorem property taxes to fund wastewater projects. The purpose of the Ordinances was to
create municipal service taxing units to fund the provision of municipal services associated with the
administration,planning and development of wastewater and reclaimed water projects within the
municipal service taxing unit. The funds are not collecting taxes.
Funds 310, 311, 312, 315 were created for the construction of wastewater including special assessments
collected to complete wastewater. Remaining assessment revenue along with 304 infrastructure sales
tax will be used to repay debt service payments (approx. $124.5 million) due through final payment in
2037.
With the completion of wastewater, the separate funds are not needed. To be consistent with the
guidance of Governmental Accounting Standards Board(GASB) Statement Number 34, the Board's
new external auditors would like to see a consolidation to reduce the number of funds maintained.
PREVIOUS RELEVANT BOCC ACTION:
Ordinance No. 035-2002 was adopted by the BOCC on 12/18/2002
Ordinance No. 036-2002 was adopted by the BOCC on 12/18/2002
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Ordinance No. 037-2002 was adopted by the BOCC on 12/18/2002
Ordinance No. 038-2002 was adopted by the BOCC on 12/18/2002
Ordinance No. 008-2004 was adopted by the BOCC on 04/21/2004
Ordinance No. 038-2004 was adopted by the BOCC on 12/15/2001
CONTRACT/AGREEMENT CHANGES:
N/A
STAFF RECOMMENDATION: Approval
DOCUMENTATION:
FINANCIAL IMPACT:
N/A
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