Fiscal Year 1979 MONROE COUNTY TAX COLLECTOR
Accountants' Report
Financial Statements
September 30, 1979
PARKS, BISHOP & HUTCHINGS
CERTIFIED PUBLIC ACCOUNTANTS
2432 FLAGLER AVENUE
KEY WEST, FLORIDA
MONROE COUNTY TAX COLLECTOR
September 30, 1979
TABLE OF CONTENTS
Exhibit (A) Combined Balance Sheet - All
Funds
Exhibit (B) General Fund - Statement of
Revenues and Expenditures
Exhibit (C) General Fund - Statement of
Changes in Fund Balance
Exhibit (D) Trust and Agency Funds -
Balance Sheet
Exhibit (E) Trust and Agency Funds - State-
---- --- ment of Revenues and Expen-
ditures
Exhibit (F) Notes to Financial Statements
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PARKS, BISHOP & HUTCHINGS
CERTIFIED PUBLIC ACCOUNTANTS
2432 FLAOLER AVENUE
KEY WEST, FLORIDA 33040
Honorable Harry F. Knight
Monroe County Tax Collector
Key West, Florida
We have examined the financial statements of the various funds
and account groups of the Monroe County Tax Collector for the year
ended September 30, 1979 listed in the foregoing table of contents.
Our examination was made in accordance with generally accepted
auditing standards and included such tests of the accounting records
and such other auditing procedures as we considered necessary in
the circumstances.
In our opinion, the aforementioned financial statements pre-
sent fairly the financial position of the various funds and account
groups of the Monroe County Tax Collector at September 30, 1979,
and the results of operations of such funds for the year then ended,
in conformity with generally accepted accounting principles applied
on a basis consistent with that of the preceding year.
CERTIFIED PUBLIC ACCOUNTANTS
August 19, 1980
Key West, Florida
MONROE COUNTY TAX COLLECTOR
COMBINED BALANCE SHEET
September 30, 1979
EXHIBIT (A)
ASSETS
General Trust and
(Operating) Agency
Fund Funds
Cash on hand $ -0- $ 10,231
Petty cash and change funds 2,825 -0-
Cash in banks - Checking accounts 113,762 262, 576
Cash in banks - Savings accounts -0- 2,913
Total assets $ 116,587 $ 275,720
LIABILITIES AND FUND BALANCE
Liabilities:
Due to State of Florida:
Department of Revenue $ $ 41,499
Department of Highway Safety
and Motor Vehicles 34,304
Department of Natural Resources 4, 135
Game and Fresh Water Fish Commission 1, 153
Unremitted taxes on current 1978
General Roll 21,370
Advance payments on 1979 General Roll 27, 668
Unremitted delinquent taxes 29,063
Due to Board of County Commissioners 37, 171
Due to Monroe County Waste Collection
and Disposal District 53,232
Due to City of Key West 14,744
Due to individuals 6,317
Cash overage 792
Unidentified balances 1,359
Total liabilities -0- 272,807
Fund balance (Note 3) 116, 587 2,913
Total liabilities and fund
balance $ 116, 587 $ 275, 720
See accompanying notes to financial statements,
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MONROE COUNTY TAX COLLECTOR
GENERAL (OPERATING) FUND
STATEMENT OF REVENUES AND EXPENDITURES
For the Year Ended September 30, 1979
EXHIBIT (B)
Over
(Under)
Budget Actual Budget
Revenues :
Board of County Commissioners $ 423, 534 $ 443, 735 $ 20,201
Special taxing districts:
Mosquito Control District 30,000 30, 932 932
Lower Keys Hospital District 13,000 13,468 468
South Florida Water Management
District 6,700 9,066 2,366
Waste Collection and Disposal
District 37,300 37,911 611
Motor vehicle license fees 70,000 83,793 13,793
Motorboat registration certif-
icate fees 8,000 10,402 2,402
Miscellaneous income 30,000 64,329 34,329
Total revenue 618, 534 693, 636 75,102
Expenditures:-
Salaries and benefits 414,742 382,286 (32,456)
Other personal services :
Part time 11,200 11, 102 ( 98)
Legal fees 6,500 6,499 ( 1)
Other professional services 4,200 3, 115 ( 1,085)
Total other personal
services 21, 900 20, 716 ( 1, 184)
See accompanying notes to financial statements.
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MONROE COUNTY TAX COLLECTOR
GENERAL (OPERATING) FUND
STATEMENT OF REVENUES AND EXPENDITURES
For the Year Ended September 30, 1979
EXHIBIT (B) (CONTINUED)
Over
(Under)
Budget Actual Budget
Expenses:
Contractual Services:
Postage and P.O. Box rental $ 25, 550 $ 25,158 $ ( 392)
Telephone 4,000 4,079 79
Printing and reproduction 11,580 12,871 1,291
Repairs and maintenance 4,300 4,298 ( 2)
Travel and convention 17,705 16, 181 ( 1,524)
Data processing 24,414 24,380 ( 34)
Legal advertising 20,000 18,605 ( 1,395)
Miscellaneous 890 1, 132 242
Materials and supplies:
Office materials and supplies 3, 100 3,280 180
Current charges and obligations:
Insurance and surety bonds 1, 500 1,403 ( 97)
Rental of equipment 276 344 68
Association dues 631 634 3
Contingency 290 -0- ( 290)
Total expenses 114,236 112,365 ( 1,871)
Operating capital outlay:
Office furniture and
equipment 66,618 61,682 ( 4, 936)
Total expenditures 617,496 577,049 (40,447)
Excess of revenues over
expenditures .$ 1,038 $ 1161587 $ 115, 549
See accompanying notes to financial statements,
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MONROE COUNTY TAX COLLECTOR
STATEMENT OF CHANGES IN FUND BALANCE
For the Year Ended September 30, 1979
EXHIBIT (C)
General fund balance, beginning
October 1, 1978 (Note 2) $ 87, 148
Add: Excess of revenues over expenditures
for the year ended September 30, 1979 116, 587
Less: Reversion of excess of revenue over
expenditures to Board of County
Commissioners (87,148)
General fund balance, ending
September 30, 1979 $ 116, 587
Trust and Agency fund balance, beginning
October 1, 1978 $ -0-
Add: Savings account interest not
distributed (Note 3) 2,913
Trust and Agency fund balance, ending
September 30, 1979 $ 2,913
See accompanying notes to financial statements,
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MONROE COUNTY TAX COLLECTOR
NOTES TO FINANCIAL STATEMENTS
September 30, 1979
EXHIBIT (F)
1. Summary of significant accounting policies
The significant accounting policies followed by the Monroe
County Tax Collector are described below to enhance the use-
fulness of the financial statements to the reader:
Basis of accounting
The Tax Collector's financial records were maintained on the
cash basis of accounting, whereby revenues are recognized only
when cash is received and expenditures are recognized when cash
is disbursed. The accompanying financial statements are pre-
sented on the cash basis of accounting.
Tax Collector's compensation and excess income distribution
The Tax Collector's office was operated on a fee income basis,
whereby the Tax Collector's official statutory compensation
is payable from the excess of fee income over office expen-
ditures. Any deficiency in the excess amount is payable from
the County's General Fund. Excess income was divided and
_distributed annually on a pro rata basis to the governmental
units from which fee income payments were received.
Tangible personal property
Acquisitions of tangible personal property are recorded as
expenditures in the General (Operating) Fund at time of pur-
chase. Such assets are reported to and capitalized by the
Board of County Commissioners and, consequently, are not shown
on the Tax Collector's records.
Retirement plans
The Tax Collector and employees of his office are members of
one of the retirement plans administered by the State of
Florida, Department of Administration, Division of Retirement.
These plans require contributions by the office and, in some
instances, by the employees at a stated percentage of compen-
sation dependent upon the individual plan.
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MONROE COUNTY TAX COLLECTOR
NOTES TO FINANCIAL STATEMENTS
September 30, 1979
EXHIBIT (F) (CONTINUED)
2. Excess income accrued, remitted and unremitted for the fiscal
years ended September 30, 1978 and September 30, 1979 was as
follows:
September 30, 1978 September 30, 1979
Accrued Remitted Accrued Unremitted
Board of County
Commissioners $ 76,341 $ 76,341 $101,256 $101,256
Lower Florida Keys
Hospital District 1,944 1, 944 2,262 2,262
Mosquito Control
District 4,375 4,375 5, 188 5, 188
Waste Collection and
Disposal District 3,477 3,477 6,366 6,366
Central and Southern
Florida Flood
Control District 1,011 1,011 1, 515 1, 515
_ _Taital $ 87, 148 $ 87,148 '116, 587 $116, 587
3. Interest on savings accounts for the quarter ended September 30,
1979 was not distributed as of that date and accordingly, re-
sulted in an ending fund balance of $ 2,913. Subsequent to
September 30, 1979, the funds were distributed as follows:
Board of County Commissioners $ 649
County School Fund 1,325
Fine and Forfeiture Fund 451
Mosquito Control Fund 209
Building certificates 19
Monroe County Health 37
Municipal Services 133
South Florida Water Management
-District 34
Okeechobee Basin Fund 56
$ 2, 913
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