HomeMy WebLinkAboutFiscal Year 2024 Monroe County, Florida Sheriff
Financial Statements, Required Supplementary
Information and Other Reports
As of and for the Fiscal Year Ended September 30, 2024
and Reports of Independent Auditor
MONROE COUNTY, FLORIDA SHERIFF
TABLE OF CONTENTS
Independent auditor's report ....................................................................................................... 1-3
Financial statements
Balance Sheet—Governmental Funds ................................................................................................................4
Statement of Revenues, Expenditures and Changes in Fund Balances—
GovernmentalFunds .........................................................................................................................................5
Statement of Fiduciary Net Position —Custodial Funds.......................................................................................6
Statement of Changes in Fiduciary Net Position —Custodial Funds....................................................................7
Notes to Financial Statements ........................................................................................................................8-20
Required supplementary Information (unaudited)
Schedule of Revenues, Expenditures and Changes in Fund Balances—
Budget and Actual—General Fund .................................................................................................................21
Schedule of Revenues, Expenditures and Changes in Fund Balances—
Budget and Actual— Major Special Revenue Funds..................................................................................22-25
Note to Required Supplementary Information ...................................................................................................26
Supplementary information
Combining Statement of General, Trauma Star and Radio
Communications Funds by Service Area.........................................................................................................27
Non-Major Special Revenue Funds Description ................................................................................................28
Combining Balance Sheet— Non-Major Governmental Funds—Special
RevenueFunds...........................................................................................................................................29-31
Combining Statement of Revenues, Expenditures and Changes in Fund
Balances— Non-Major Governmental Funds—Special Revenue Funds...................................................32-34
Schedule of Revenues, Expenditures and Changes in Fund Balances—
Budget and Actual— Non-Major Special Revenue Funds..........................................................................35-44
CustodialFunds Description...............................................................................................................................45
Combining Statement of Fiduciary Net Position—Custodial Funds ..................................................................46
Combining Statement of Changes in Fiduciary Net Position—Custodial Funds...............................................47
Other reports
Report 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 .....................................................................................48-49
Management Letter in accordance with chapter 10.550, rules of the auditor
general of the State of Florida ....................................................................................................................50-51
Independent accountant's report on compliance with local government
investmentpolicies...........................................................................................................................................52
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Independent Auditor's Report IRS111A US Ill..11l..l11P
To the Honorable Richard A. Ramsay,
Sheriff of Monroe County, Florida
Report on the Audit of the Financial Statements
Opinions
We have audited the financial statements of each major fund and the aggregate remaining fund
information of the Monroe County, Florida, Sheriff(the Sheriff)as of and for the year ended
September 30, 2024, and the related notes to the financial statements, which collectively comprise the
Sheriff's financial statements as listed in the table of contents.
In our opinion, the accompanying 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 Sheriff as of September 30, 2024, and the respective changes in financial position for
the year then ended in accordance with accounting principles generally accepted in the United States of
America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America (GAAS) and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States (Government Auditing Standards). Our
responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit
of the Financial Statements section of our report. We are required to be independent of Monroe County,
Florida and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements
relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opinions.
Emphasis of Matter
As discussed in Note 1, the accompanying financial statements of the Sheriff were prepared for the
purpose of complying with Section 218.39, Florida Statutes and Section 10.557(3), Rules of the Auditor
General for Local Government Entity Audits. They do not purport to, and do not, present fairly the
financial position of Monroe County, Florida as of September 30, 2024, and the changes in its financial
position and, where applicable, cash flows thereof for the year then ended, in conformity with accounting
principles generally accepted in the United States of America. Our opinions are not modified with respect
to this matter.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in
accordance with accounting principles generally accepted in the United States of America, and for 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.
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Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance
and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government
Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a
material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve
collusion, forgery, intentional omissions, misrepresentations or the override of internal control.
Misstatements are considered material if there is a substantial likelihood that, individually or in the
aggregate, they would influence the judgment made by a reasonable user based on the financial
statements.
In performing an audit in accordance with GAAS and Government Auditing Standards, we
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, and design and perform audit procedures responsive to those risks. Such procedures
include examining, on a test basis, evidence regarding the amounts and disclosures in the financial
statements.
• Obtain an understanding of internal control relevant to the audit 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 Sheriffs internal control. Accordingly, no such opinion is expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
financial statements.
We are required to communicate with those charged with governance regarding, among other matters,
the planned scope and timing of the audit, significant audit findings, and certain internal control-related
matters that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that budgetary
comparison schedules and related notes be presented to supplement the financial statements. Such
information is the responsibility of management and, 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 GAAS, which consisted of inquiries of management about the methods of preparing
the information and comparing the information for consistency with management's responses to our
inquiries, the 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.
Management has omitted the management's discussion and analysis that accounting principles generally
accepted in the United States of America require to be presented to supplement the financial statements.
Such missing 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. Our opinions on the
financial statements are not affected by this missing information.
2
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the Sheriffs financial statements. The supplementary information, as listed in the table of
contents, is presented for purposes of additional analysis and is not a required part of the financial
statements. The supplementary information is the responsibility of management and was derived from
and relates directly to the underlying accounting and other records used to prepare the financial
statements. Such information has been subjected to the auditing procedures applied in the audit of the
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
auditing standards generally accepted in the United States of America. In our opinion, the supplementary
information is fairly stated, in all material respects, in relation to the financial statements as a whole.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated April 7,
2025, on our consideration of the Sheriff's 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 Sheriff's internal control over financial reporting or on compliance. That report is an
integral part of an audit performed in accordance with Government Auditing Standards in considering
the Sheriffs internal control over financial reporting and compliance.
ILO
s
Fort Lauderdale, Florida
April 7, 2025
3
FINANCIAL STATEMENTS
MONROE COUNTY,FLORIDA SHERIFF
BALANCE SHEET-GOVERNMENTAL FUNDS
SEPTEMBER 30,2024
Major Funds Non-Major Funds
Shared
HIDTA Asset Other
General Trauma Star Grants Grants Forfeiture Governmental Total
ASSETS
Cash and cash equivalents $ 5,050,175 $ 2,170,765 $ 1,555,178 $ - $ 971,872 $ 3,836,707 $ 13,584,697
Investments - - - - 3,814,929 - 3,814,929
Due from Board of County Commissioners 24,842 - - 57,788 - 59,369 141,999
Due from other funds 1,362,728 - 1,045 395,126 - 2,007,374 3,766,273
Due from other governmental units 8,047 - 1,767,219 1,169,288 - 88,617 3,033,171
Due from others 58,307 - 360 - - 55,537 114,204
Inventory 28,959 - - - - - 28,959
Interest receivable 18,921 18,921
Total Assets $ 6,533,058 $ 2,170,765 $ 3,323,802 $ 1,622,202 $ 4,805,722 $ 6,047,604 $ 24,503,153
LIABILITIES,DEFERRED INFLOWS OF RESOURCES,
AND FUND BALANCES
Liabilities:
Accounts payable $ 3,141,138 $ - $ 850,977 $ - $ 26,765 $ 115,350 $ 4,134,230
Accrued wages and benefits payable 1,139,038 - 81,022 - - 7,637 1,227,697
Due to Board of County Commissioners 1,098,841 2,170,765 1,020 - - 314,517 3,585,143
Due to other governmental units 224,447 - 778,397 - - 56,405 1,059,249
Due to other funds 853,355 - 1,612,386 1,227,075 - 73,457 3,766,273
Due to others 31,106 - - - - - 31,106
Unearned revenues 45,133 76,161 121,294
Total Liabilities 6,533,058 2,170,765 3,323,802 1,227,075 26,765 643,527 13,924,992
Deferred Inflows of Resources:
Unavailable revenues 1,081,021 1,081,021
FUND BALANCES(Deficit)
Non-Spendable:
-Inventory 28,959 - - - - - 28,959
Restricted:
-Law enforcement programs - - - - 4,778,957 - 4,778,957
-Teen court program - - - - - 65,135 65,135
-Inter-agency communication program - - - - - 183,531 183,531
-E-911 programs - - - - - 1,961,641 1,961,641
-Inmate welfare program - - - - - 1,468,146 1,468,146
-Farm program - - - - - 132,989 132,989
-Grants - - - - - - -
Committed:
-Contract administration - - - - - 1,592,635 1,592,635
Unassigned (28,959) (685,894) (714,853)
Total Fund Balances(Deficit) (685,894) 4,778,957 5,404,077 9,497,140
Total liabilities,deferred inflows of
resources and fund balances(deficit) $ 6,533,058 $ 2,170,765 $ 3,323,802 $ 1,622,202 $ 4,805,722 $ 6,047,604 $ 24,503,153
The accompanying notes to the financial statements are an integral part of this statement.
4
MONROE COUNTY,FLORIDA SHERIFF
STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FISCAL YEAR ENDED SEPTEMBER 30,2024
Non-Major
Major Funds Funds
Shared
Trauma HIDTA Asset Other Total
General Star Grants Grants Forfeiture Governmental Governmental
Revenues:
Intergovernmental-BOCC $ 67,349,138 $ 6,453,147 $ - $ 364,418 $ - $ 1,967,900 $ 76,134,603
Intergovernmental-other government units - - 22,342,602 719,281 - 1,631,826 24,693,709
Charges for services - - - - - 5,135,143 5,135,143
Fines and forfeitures - - - - - 7,930 7,930
Investment income 601,342 - - - 293,315 220,637 1,115,294
Miscellaneous income 954,109 58,120 1,012,229
Total revenues 68,904,589 6,453,147 22,342,602 1,083,699 293,315 9,021,556 108,098,908
Expenditures:
Current:
Personnel services 49,592,837 2,019,881 3,700,409 777,413 - 6,036,344 62,126,884
Operating expenses 13,903,454 2,262,501 13,908,877 325,035 96 2,146,375 32,546,338
Debt service:
Principal 60,508 - 3,031,284 - - - 3,091,792
Interest 332 - 1,263,927 - - - 1,264,259
Capital outlay 3,624,987 - 474,077 460,920 - 148,441 4,708,425
Aid to other governments/non-profits 124,148 500 124,648
Total expenditures 67,182,118 4,282,382 22,378,574 1,563,368 124,244 8,331,660 103,862,346
Excess of revenues over(under)
expenditures 1,722,471 2,170,765 (35,972) (479,669) 169,071 689,896 4,236,562
Other financing sources(uses):
Proceeds from Subscription Based Information
Tech Arrangements - - 35,972 - - - 35,972
Transfers from other funds - - - 152,009 - 16,884 168,893
Transfers to other funds (168,893) - - - - - (168,893)
Transfer to Board of County
Commissioners (1,553,578) (2,170,765) (13,133) (3,737,476)
Total other financing sources(uses)
over expenditures (1,722,471) (2,170,765) 35,972 152,009 3,751 (3,701,504)
Net change in fund balance - - - (327,660) 169,071 693,647 535,058
Fund balances(deficit),beginning of year (358,234) 4,609,886 4,710,430 8,962,082
Fund balances(deficit),end of year $ - $ - $ - $ (685,894) $ 4,778,957 $ 5,404,077 $ 9,497,140
The accompanying notes to the financial statements are an integral part of this statement.
5
MONROE COUNTY, FLORIDA SHERIFF
STATEMENT OF FIDUCIARY NET POSITION
CUSTODIAL FUNDS
SEPTEMBER 30, 2024
Total
Custodial
ASSETS
Cash and cash equivalents $ 896,258
Due from others 8,883
Total Assets $ 905,141
LIABILITIES
Accounts payable $ 23,373
Total Liabilities $ 23,373
NET POSITION
Restricted for:
Individuals, organizations and
other governments $ 881,768
Total Net Position $ 881,768
The accompanying notes to the financial statements are an integral part of this statement.
6
MONROE COUNTY, FLORIDA SHERIFF
STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
CUSTODIAL FUNDS
FISCAL YEAR ENDED SEPTEMBER 30, 2024
Total
Custodial
Additions:
Payments made to bond accounts $ 955,180
Payments made to inmate accounts 1,287,956
Total additions $ 2,243,136
Deductions:
Payments to depositors $ 1,080,307
Payments of inmate services 970,151
Payments of inmate release funds 353,019
Total deductions $ 2,403,477
Net change in fiduciary net postion $ (160,341)
Net Position, beginning October 1 1,042,109
Net Position, Ending September 30 $ 881,768
The accompanying notes to the financial statements are an integral part of this statement.
7
MONROE COUNTY, FLORIDA SHERIFF
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2024
Note 1—Nature of operations and summary of significant accounting policies
Financial Reporting Entity— The Monroe County, Florida Sheriff (the "Sheriff') is a separately elected county
official established pursuant to Article VIII, Section 1(d) of the Constitution of the State of Florida. The Sheriffs
financial statements do not purport to reflect the financial position or the results of operations of Monroe County,
Florida (the County) taken as a whole. The financial statements of the Sheriff have been prepared in
accordance with accounting principles and reporting guidelines established by the Governmental Accounting
Standards Board (GASB).
Entity status for financial reporting purposes is governed by GASB Statement 14, as amended. Although the
Sheriff's Office is operationally autonomous from the County, it does not hold sufficient corporate powers of its
own to be considered a legally separate entity for financial reporting purposes. Therefore, under GASB
guidelines, the Sheriff is reported as a part of the primary government of the County. The financial activities of
the Sheriff, as a constitutional officer, are included in the County's annual comprehensive financial report.
Measurement Focus, Basis of Accounting, and Financial Statement Presentation — The Sheriff's financial
statements are prepared for the purpose of complying with Section 218.39(2), Florida Statutes, and
Chapter 10.550, Rules of the Auditor General (the Rules), which requires the Sheriff to only present special
purpose fund financial statements.
The General Fund and Special Revenue Funds are governmental funds that use the current financial resources
measurement focus and the modified accrual basis of accounting. Revenues are recognized when measurable
and available. Revenues are considered to be available when they are collectible within the current period or
soon enough thereafter to pay liabilities of the current period. For this purpose, the Sheriff considers revenues to
be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally
are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures as
well as expenditures related to compensated absences, pension and other post-employment benefits, and
claims and judgments, are recorded only when payment is due.
The accrual basis of accounting is used by the custodial funds. Under the accrual basis, revenues/additions are
recorded when earned and expenses/deductions are recorded at the time the liabilities are incurred.
Description of Funds — The Sheriff reports the General Fund and Special Revenue Funds as governmental
funds and Custodial Funds as a fiduciary fund type. The General Fund is used to account for all revenues and
expenditures applicable to the general operations of the Sheriff. The Special Revenue Funds account for the
proceeds and uses of specific revenue sources that are legally restricted or committed to expenditures for a
specific purpose. Custodial Funds are used to account for assets held by the Sheriff as agent for individuals,
organizations or other governments for bonds, inmate funds, civil trusts and evidence and seized currency.
The Sheriff reports the General Fund and the following four Special Revenue Funds as major funds: Trauma
Star, High Intensity Drug Trafficking Area Grants (HIDTA), Grants and the Shared Asset Forfeiture Fund. The
Trauma Star fund accounts for the revenues and expenditures related to the function of air and ambulance
transports and is a vital component of the Sheriffs life-saving program. The HIDTA Grants Fund accounts for
the revenues and expenditures related to the Office of National Drug Control Policy ("ONDCP") grants. The
Grants fund accounts for receipts and disbursements related to other various local, state, and federal grants.
The Shared Asset Forfeiture Fund accumulates stipulated transfers from the Federal Forfeiture Fund and its
investment income is used to fund awards to non-profit organizations, as determined by an advisory board.
Transfers — The Sheriff transfers funds to administer certain Special Revenue Fund programs. In addition, the
extent to which General Fund, Trauma Star, Radio Communications, and the State Forfeiture Fund revenues
exceed expenditures is reflected as transfers out and as liabilities to the Board of County Commissioners.
8
MONROE COUNTY, FLORIDA SHERIFF
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2024
Note 1—Nature of operations and summary of significant accounting policies
(continued)
Fund Balance Presentation — In accordance with GASB Statement 54, the fund balances of the governmental
funds are classified as restricted or committed. This classification includes amounts that can be spent only for
specific purposes because of constitutional provisions or enabling legislation or because of constraints that are
externally imposed by creditors, grantors, contributors or the laws or regulations of other governments. This
consists of the following five classifications: non-spendable, restricted, committed, assigned or unassigned. The
Sheriff first uses restricted resources, and then committed, followed by assigned and unassigned resources.
Non-Spendable — Include amounts that cannot be sent because they are either not in spendable form, or
for legal or contractual reasons, must be kept intact. This classification includes inventory.
Spendable Fund Balance—
Restricted— Includes amounts that are constrained for specific purposes which are externally imposed
by providers (such as grantors or creditors)or enabling legislation.
Committed— Includes amounts that are constrained for specific purposes that are internally imposed by
the highest level of decision-making authority, which in this case is the Sheriff.
Assigned— Includes amounts that are intended to be used for specific purposes that are not restricted
or committed. Assignments can be made at the direction of the Sheriff.
Unassigned — Represents fund balance that has not been assigned to other funds, and that has not
been restricted, committed or assigned to specific purposes within the general fund. Unassigned fund
balance also includes any deficit fund balance of other governmental funds.
Cash and Cash Equivalents and Investments— Highly liquid investments with maturities of three months or less
when purchased are considered cash equivalents. Included are investments in the State Board of Administration
Local Surplus Funds Investment Pool Trust Fund (SBA), which consists of the Florida PRIME investment pool, a
qualifying fund that operates essentially as a money market fund, and municipal bonds. Florida PRIME is stated
at amortized cost, which is substantially the same as fair value, and municipal bonds are stated at fair value
based on Level 2 of the fair value hierarchy, using quoted prices for similar assets in active markets or identical
or similar assets in inactive markets. All cash is insured by the Federal Deposit Insurance Corporation (FDIC)or
covered by the State of Florida collateral pool, a multiple financial institution pool with the ability to assess its
members for collateral shortfalls if a member institution fails.
The Sheriff categorizes its applicable fair value measurement within the fair value hierarchy established in
accordance with GASB Statement No. 72 Fair Value Measurements and Application. The hierarchy is based on
the valuation inputs used to measure the fair value of the asset. Level 1 inputs are quoted prices in active
markets for identical assets; Level 2 inputs are significant other observable inputs; Level 3 inputs are significant
unobservable inputs. Types and amounts of investments held at fiscal year-end are described in a subsequent
note. Normally excluded from GASB Statement No. 72 hierarchy reporting are cash equivalent investments,
certificates of deposit, money market funds, commercial paper and time deposit-like foreign bonds.
State statutes and local ordinances authorize investments in obligations of the U.S. Government, its agencies
and instrumentalities, repurchase agreements, interest-bearing time deposits, savings accounts, the Florida
Prime Investment Pool (formerly known as the Local Government Surplus funds Trust Fund administered by the
State Board of Administration), the Florida Local Government Investment Trust, collateralized mortgage
obligations, certain corporate securities, instruments backed by the full faith and credit of the State of Israel,
bankers acceptances and money market mutual funds.
9
MONROE COUNTY, FLORIDA SHERIFF
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2024
Note 1—Nature of operations and summary of significant accounting policies
(continued)
Receivables—All receivables are shown net of an allowance for uncollectibles. Historical collection experience
is used to estimate the accounts receivable allowance. The complete balance in the Inmate Fund custodial fund
is deemed uncollectible in the amount of$217,380 as of September 30, 2024.
Capital Assets — Capital assets are recorded as expenditures in the General Fund or the Special Revenue
Funds at the time of purchase and are capitalized at historical cost in the government-wide financial statements
of the County. Gifts or contributions and seized property are recorded in the governmental activities in the
government-wide financial statements of the County at their acquisition value at the time received. In addition,
the Board of County Commissioners provides at no cost the office space and certain other expenditure items
used in the Sheriff's operations.
It is the policy of the Sheriff to capitalize all assets costing more than $1,000 with an estimated useful life of two
or more years. The cost of normal maintenance and repairs that do not add to the value of the asset or
materially extend asset lives are not capitalized.
Capital assets are depreciated using the straight-line method over the following estimated useful lives:
Years
Buildings and infrastructure 10-50
Machinery and equipment 5-10
Compensated Absences — The Sheriff permits employees to accumulate earned but unused vacation and sick
pay benefits. The Sheriff is not legally required to and does not accumulate expendable available financial
resources to liquidate this obligation. The obligation is accrued in the government-wide financial statements of
the County.
Leases and Subscription-Based Software — The Sheriff is a lessee for noncancellable building and equipment
leases. Similarly, the Sheriff has subscription-based information technology arrangements (SBITA) for the right-
to-use various information technology software. At the government-wide level, in the governmental activities
opinion unit, the County recognizes a lease and SBITA liability and an intangible right-to-use lease asset (lease
assets). At the commencement of a lease or SBITA, the Sheriff and the County initially measures the lease and
SBITA liability at the present value of payments expected to be made during the lease term, net of any upfront
payments made at time of inception of the lease. Subsequently, the lease asset is amortized on a straight-line
basis over its useful life. At the fund level, the Sheriff recognizes an expenditure and other financing source in
the period the lease or SBITA is initially recognized.
Key estimates and judgments related to leases and SBITA include how the Sheriff and County determines: (1)
the discount rate it uses to discount the expected lease and SBITA payments to present value, (2) lease term,
and (3) lease or SBITA payments.
• The Sheriff and County use the interest rate charged by the lessor as the discount rate. When the
interest rate charged by the lessor is not provided, the Sheriff and County generally use its estimated
incremental borrowing rate as the discount rate for the leases and SBITA.
• The lease term includes the noncancellable period of the lease or SBITA. Lease and SBITA payments
include the measurement of the lease liability and are composed of the fixed payments and purchase
option price that the Sheriff and County is reasonably certain to exercise.
10
MONROE COUNTY, FLORIDA SHERIFF
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2024
Note 1—Nature of operations and summary of significant accounting policies
(continued)
The Sheriff and County monitors changes in circumstances that would require a remeasurement of its lease or
SBITA and will remeasure the lease asset and liability if certain changes occur that are expected to significantly
affect the amount of the lease or SBITA liability. Lease assets are reported with other capital assets and lease
and SBITA liabilities are reported with long-term debt in the statement of net position as part of the
governmental activities, opinion unit in the basic financial statements of the County. The leases state they may
be canceled in the event budget appropriations are not sufficient to meet the Sheriff's obligations under the
leases or SBITA.
Use of Estimates — The preparation of financial statements in conformity with accounting principles generally
accepted in the United States requires management to make estimates and assumptions that affect reported
amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenditures during the reporting period. Actual results
could differ from estimates.
New Governmental Accounting Standards Board(GASB) Pronouncements—
GASB Statement No. 101, Compensated Absences. The objective of this Statement is to better meet the
information needs of financial statement users by updating the recognition and measurement guidance for
compensated absences. That objective is achieved by aligning the recognition and measurement guidance
under a unified model and by amending certain previously required disclosures. The requirements of this
Statement are effective for fiscal years beginning after December 15, 2023, and all reporting periods thereafter.
The adoption of this statement did not have a material effect on the Sheriff financials.
The following are new accounting pronouncements that have been issued but are not yet effective:
GASB Statement No. 102, Credit Risk Disclosures. The State and local governments face a variety of risks that
could negatively affect the level of service they provide or their ability to meet obligations as they come due.
Although governments are required to disclose information about their exposure to some of those risks,
essential information about other risks that are prevalent among state and local governments is not routinely
disclosed because it is not explicitly required. The objective of this Statement is to provide users of government
financial statements with essential information about risks related to a government's vulnerabilities due to
certain concentrations or constraints. This Statement defines a concentration as a lack of diversity related to an
aspect of a significant inflow of resources or outflow of resources. A constraint is a limitation imposed on a
government by an external party or by formal action of the government's highest level of decision-making
authority. Concentrations and constraints may limit a government's ability to acquire resources or control
spending. The requirements of this Statement are effective for fiscal years beginning after June 15, 2024, and
all reporting periods thereafter.
GASB Statement No. 103, Financial Reporting Model Improvements. The objective of this statement is to
improve key components of the financial reporting model to enhance its effectiveness in providing information
that is essential for decision making and assessing a government's accountability. This statement also
addresses certain application issues. The requirements of this statement are effective for fiscal years beginning
after June 15, 2025, and all reporting periods thereafter. Earlier application is permitted.
GASB Statement No. 104, Disclosure of Certain Capital Assets. State and local governments are required to
provide detailed information about capital assets in notes to the financial statements. The objective of this
statement is to provide users of government financial statements with essential information about certain types
of capital assets. This statement also requires additional disclosures for certain capital assets held for sale. A
capital asset is held for sale if: (a)the government has decided to pursue the sale of the capital asset, and (b) it
is probable that the sale will be finalized within one year of the financial statement date. Governments should
consider relevant factors to evaluate likelihood of the capital asset being sold within the established time frame.
11
MONROE COUNTY, FLORIDA SHERIFF
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2024
Note 1—Nature of operations and summary of significant accounting policies
(continued)
The requirements of this statement are effective for fiscal years beginning with its year ending September 30,
2026.
Management is in the process of determining what impact, if any, implementation of the above statements may
have on the financial statements of the Sheriff.
Note 2—Deposits and investments
Cash, cash equivalents, and investments as of September 30, 2024, consist of the following:
Type Fair Value
Govrnmental funds:
Demand deposits $ 14,290,231
Florida PRIME 187,408
Municipal bonds 3,814,929
18,292,568
Petty cash 3,317
Cash, cash equivalents and investments $ 18,295,885
Cash, cash equivalents and investments at September 30, 2024, are reported in the balance sheet and
statement of net position as follows:
Govermental Custodial
Funds Funds Total
Cash and cash equivalents $ 13,584,698 $ 896,258 $ 14,480,956
Investments 3,814,929 - 3,814,929
Cash, cash equivalents and investments $ 17,399,627 $ 896,258 $ 18,295,885
Deposits—Cash and cash equivalents to include demand deposits insured by the FDIC or covered by the State
of Florida collateral pool, a multiple financial institution pool with the ability to assess its members for
collateral shortfalls if a member institution fails. Cash equivalents also include the investment in Florida
PRIME. The bank balance of all demand deposits as of September 30, 2024, was $15,338,746. The Sheriff
also has petty cash totaling $3,317 as of September 30, 2024.
Investments — Florida Statutes and the Sheriffs investment policy authorize investments in certificates of
deposit, savings accounts, repurchase agreements, the Local Government Surplus Funds Trust Fund
administered by the Florida State Board of Administration, money market funds, direct obligations of the
U.S. Treasury, federal agencies and instrumentalities, rated or unrated bonds, notes or instruments, securities
of or interests in any investment company or investment trust, commercial paper and Municipal Securities.
As of September 30, 2024, the Sheriff had $187,408 invested in the SBA and $3,814,929 in Municipal Bonds,
which was 22% of the Sheriff's total cash and cash equivalents and investments. Of the $187,408 invested in
the SBA, 100% is invested in Florida PRIME. The Municipal Bonds are rated by Standard and Poor's from AA
through AA- and the ratings on the Municipal Bonds from Moody's are rated from Aaa through Aa3.
Florida PRIME is rated by Standard and Poor's. The current rating is AAAm. The weighted average days to
maturity ("WAM") of the Florida PRIME at September 30, 2024 is 39 days. Next interest rate reset days for
floating rate securities are used in the calculation of the WAM. The weighted average life (WAL) of Florida
Prime at September 30, 2024, is 74 days.
12
MONROE COUNTY, FLORIDA SHERIFF
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2024
Note 3—Interfund receivables and payables
Interfund receivables and payables at September 30, 2024 consist of the following:
Due from Due to
Fund Other funds Other Funds
General $ 1,362,728 $ 853,355
HIDTA 1,045 1,612,386
Grants 395,126 1,227,075
Other nonmajor governmental 2,007,374 73,457
$ 3,766,273 $ 3,766,273
Note 4—Capital assets
A summary of changes in the Sheriffs capital assets, presented in the government-wide financial statements of
the County, is as follows which includes GASB 87 leases and GASB 96 SBITA:
Balance Balance
10/1/2023 Additions Deductions 09/30/2024
Capital assets not depreciated:
Construction in progress $ 4,226 $ 249,777 $ 4,226 $ 249,777
Total capital assets not depreciated $ 4,226 $ 249,777 $ 4,226 $ 249,777
Capital assets depreciated:
Buildings/leaseholds $ 3,268,025 $ 7,390 $ 53,425 $ 3,221,990
Right of use-leased assets—buildings 48,815,258 - 4,452 48,810,806
Right of use-leased assets—SBITA software 261,014 35,972 - 296,986
Equipment 58,706,843 4,416,277 1,627,633 61,495,487
Total capital assets depreciated $ 111,051,140 $ 4,459,639 $1,685,510 $ 113,825,269
Accumulated depreciation $ 45,672,165 $ 7,706,519 $1,481,764 $ 51,896,920
Capital assets depreciated, net $ 65,378,975 $(3,246,880) $ 203,746 $ 61,928,349
Capital assets, net $ 65,383,201 $(2,997,103) $ 207,972 $ 62,178,126
13
MONROE COUNTY, FLORIDA SHERIFF
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2024
Note 5—Compensated absences
The Sheriff permits employees to accumulate earned but unused vacation and sick pay benefits. The Sheriff is
not legally required to and does not accumulate expendable available financial resources to liquidate this
obligation. The obligation for compensated absences is accrued in the government-wide financial statements of
the County. A summary of activity for the Sheriffs compensated absences obligation is as follows:
Compensated
Absences
Compensated absences, beginning of year $ 9,492,116
Additions 4,082,969
Reductions (3,594,822)
Compensated absences, end of year $ 9,980,263
Note 6—Fund balances
In the governmental fund financial statements, fund balance is composed of nonspendable, restricted,
committed and unassigned classifications designed to disclose the hierarchy of constraints placed on how fund
balance can be spent. The following is a description of the types of restricted and committed fund balance at
year end.
Restricted Fund Balance — This classification includes revenue sources that are restricted to specific purposes
externally imposed by creditors or imposed by law.
Funds with restricted fund balance are as follows:
Shared Asset Forfeiture Fund is restricted upon Ordinance 030-2000 which specifies use must be for law
enforcement crime prevention, drug and alcohol abuse prevention and treatment, mental and physical health of
minors and adults, and cultural, artistic, educational, recreational and sports programs for Monroe County youth.
E-911 Fund is restricted based upon the E-911 costs allowable by State Statute [F.S. 365].
Teen court fund accounts for funds received pertaining to the teen court program designed to deter juveniles
who are becoming involved in crime.
Commissary Fund is restricted for Inmate and Farm as outlined by State Statute [F.S. 951.23(9)].
Inter-Agency Communications Fund is restricted by State Statute [318.21(9)].
Committed fund balance - Portion of fund balance that can be used for specific purposes imposed by the Sheriff
(highest level of decision-making authority). Any changes or removal of specific purposes requires action by the
Sheriff.
Funds with committed fund balance is as follows:
Contract Administrative Fund is committed for the administration of contracts between the Sheriff and third
parties.
14
MONROE COUNTY, FLORIDA SHERIFF
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2024
Note 7—Retirement plans
Plan Description—The Sheriff's employees participate in the Florida Retirement System ("FRS"). As provided by
Chapters 121 and 112, Florida Statutes, the FRS provides two cost sharing, multiple employer defined benefit
plans administered by the Florida Department of Management Services, Division of Retirement, including the
FRS Pension Plan ("Pension Plan") and the Retiree Health Insurance Subsidy ("HIS Plan"). Under
Section 121.4501, Florida Statutes, the FRS also provides a defined contribution plan ("Investment Plan")
alternative to the FRS Pension Plan, which is administered by the SBA.
As a general rule, membership in the FRS is compulsory for all employees working in a regularly established
position for a state agency, county government, district school board, state university, community college, or a
participating city or special district within the state of Florida. The FRS provides retirement and disability
benefits, annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. Benefits are
established by Chapter 121, Florida Statutes, and Chapter 60S, Florida Administrative Code. Amendments to
the law can be made only by an act of the Florida Legislature.
Benefits under the Pension Plan are computed on the basis of age, average final compensation, and service
credit. For Pension Plan members enrolled before July 1, 2011, Regular class members who retire at or after
age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a
retirement benefit payable monthly for life, equal to 1.6% of their final average compensation based on the five
highest years of salary for each year of credited service. Vested members with less than 30 years of service
may retire before age 62 and receive reduced retirement benefits. Senior Management Service class members
who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age
are entitled to a retirement benefit payable monthly for life, equal to 2.0% of their final average compensation
based on the five highest years of salary for each year of credited service. Elected Officers' class members who
retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are
entitled to a retirement benefit payable monthly for life, equal to 3.0% of their final average compensation based
on the five highest years of salary for each year of credited service. Special Risk Administrative Support 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%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 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% of their final average compensation based on the five highest years
of salary for each year of credited service. Substantial changes were made to the Pension Plan during fiscal
year 2011 affecting members enrolled on or after July 1, 2011, by extending the vesting requirement for
Regular, Senior Management Service, Elected Officers', and Special Risk Administrative Support class
members to eight years of credited service and increasing normal retirement to age 65 with at least eight years
of credited service or 33 years of service regardless of age. The vesting requirement for Special Risk class
members was extended to eight years of credited service and increasing normal retirement to age 60 with at
least eight years of credited service or 30 years of service regardless of age or age 57 with 30 years of
combined Special Risk Class service and military service. Also, the final average compensation of these
members will be based on the eight highest years of salary. A post-employment health insurance subsidy is also
provided to eligible retired members through the FRS in accordance with Florida Statutes.
The HIS Plan provides a monthly benefit to assist retirees in paying their health insurance costs and is
administered by the Florida Department of Management Services, Division of Retirement. Eligible retirees and
beneficiaries receive a monthly health insurance subsidy payment of$7.50 for each year of creditable service,
with a minimum payment of $45 and a maximum payment of $225 per month. The HIS Plan is funded by
required contributions from FRS participating employees as set forth by the Florida Legislature, based on a
percentage of gross compensation for all active FRS members.
15
MONROE COUNTY, FLORIDA SHERIFF
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2024
Note 7—Retirement plans (continued)
In addition to the above benefits, the FRS administers a Deferred Retirement Option Program ("DROP"). This
program allows eligible members to defer receipt of monthly retirement benefit payments while continuing
employment with an 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. House Bill 5007, Chapter 2023-159, Laws of Florida, effective July 1, 2023. Included in this
bill is a provision to allow DROP participants in law enforcement officer positions that meet the criteria of
subsection 121.0515(3) (a), Florida Statutes, to participate for up to an additional 36 calendar months beyond
their initial 60-month eligibility period. Eligible law enforcement officers must be in DROP on July 1, 2023, or
begin their DROP participation between July 1, 2023 and June 30, 2028.
For those members who elect participation in the Investment Plan, rather than the Pension Plan, vesting occurs
at one year of service. These participants receive a contribution for self-direction in an investment product with a
third-party administrator selected by the SBA. 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 FRS defined benefit plan. Contributions are directed to individual member
accounts, and the individual members allocate contributions and account balances among various approved
investment choices. Costs of administering the plan, including the FRS Financial Guidance Program, are funded
through an employer contribution of 0.04% of payroll and by forfeited benefits of plan members.
The Monroe County Sheriff's Office recognizes pension expenditures in an amount equal to amounts paid to the
Pension Plan, the defined contribution plan and the HIS Plan, amounting to $8,842,446, $1,970,345 and
$738,405 respectively, for the fiscal year ended September 30, 2024. The Monroe County Sheriff's Office
payments for the Pension Plan and the HIS Plan after June 30, 2024, the measurement date used to determine
the net pension liability associated with the Pension Plan and HIS Plan, amounted to $2,709,711 and $210,886,
respectively. The Sheriff is not legally required to and does not accumulate expendable available resources to
liquidate the retirement obligation related to its employees. Accordingly, the net pension liability and associated
deferred outflows and deferred inflows are presented on the government-wide financial statements of the
County, following requirements of GASB Statement 68, Accounting and Financial Reporting for Pensions — an
amendment of GASB Statement 27, and GASB Statement 71, Pension Transition for Contributions Made
Subsequent to the Measurement Date—an amendment of GASB Statement 68.
Funding Policy—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. The employer contribution rates by job class for
the periods from October 1, 2023 through June 30, 2024 and July 1, 2024 through September 30, 2024,
respectively, were as follows: regular members 13.57% and 13.63%, special risk—32.67% and 32.79%, special
risk administrative support — 39.82% and 39.82%, senior management — 34.52% and 34.52% and, county
elected officers — 58.68% and 58.68%. During the fiscal year ended September 30, 2024, the Monroe County
Sheriff's Office contributed to the plan an amount equal to 26.52%of covered payroll.
The State of Florida annually issues a publicly available financial report that includes financial statements and
required supplementary information for the FRS. The latest available report may be obtained by writing to the
State of Florida Division of Retirement, Department of Management Services, P.O. Box 9000, Tallahassee,
Florida 32315-9000, or from the website www.dms.myflorida.com/workforce operations/retirement/publications.
Monroe County Sheriff's office offers 457 Deferred Compensation Programs to all employees of the agency.
Employees may participate in the plan through payroll deductions and the plan is administered by Empower
Retirement and Valic group variable annuity contract. Contributions are invested at the employee's direction
through the options available under the program. Employees are fully vested at time of enrollment. The Monroe
County Sheriffs Office has no liability beyond the payment of bi-weekly payroll contributions.
16
MONROE COUNTY, FLORIDA SHERIFF
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2024
Note 7—Retirement plans (continued)
Monroe County Sheriffs office also offers a profit-sharing pension plan known as the 401(a) Discretionary
Contribution Pension Plan. Only full-time employees of the Sheriff's office classified as Telecommunications
Officer, Telecommunications Supervisor, or Telecommunications Director are covered under the pension
program established. Effective July 20, 2009, newly hired employees will be exempt from the Plan. Those
classes of employees are eligible to participate in the program on the first day of the 12-consecutive month
period commencing on October 1.
The plan allows the agency to contribute ongoing non-elective contributions to each eligible employee's
account. The routine amount contributed to each employee's account is the variance between the FRS's special
risk retirement rate and the rate given to the FRS class-group that the Dispatcher's fall into.
The Sheriff contributed $7,055 for the year ended September 30, 2024, and there were no employee contributions.
Note 8—Other postemployment benefits (OPEB) plan
In addition to the retirement plan benefits described in Note 7, the Sheriff offers to its employees a single-
employer defined benefit healthcare plan, which is administered by the Board. Florida Statute 112.0801 requires
the County to provide retirees and their eligible dependents with the option to participate in the OPEB plan if the
County provides health insurance to its active employees and their eligible dependents. The OPEB plan
provides medical coverage, prescription drug benefits, and life insurance to both active and eligible retired
employees. The OPEB plan does not issue a publicly available financial report. No assets are accumulated in a
trust that meets the criteria as set forth in GASB Statement 75, Accounting and Financial Reporting for
Postemployment Benefit Plans Other Than Pensions.
The Board may amend the OPEB plan design, with changes to the benefits, premiums and/or levels of
participant contribution at any time. On at least an annual basis, in an open session, and prior to the annual
enrollment process, the Board approves the rates for the coming calendar year for the retiree and County
contributions.
Eligibility for post-employment participation in the OPEB Plan is limited to full-time employees of the County, and
the Constitutional Officers. An employee who retires as an active participant in the OPEB Plan and was hired on
or after October 1, 2001, may continue to participate in the OPEB Plan by paying the monthly premium
established annually by the Board. An employee who retires as an active participant in the plan, was hired prior
to October 1, 2001, has at least ten years of full-time service with the County, and meets the retirement criteria
of the FRS but is not eligible for Medicare, may maintain group health insurance benefits with the County
following retirement, provided that the retiring employee pays the retiree contributions based on their years of
service with the County. Pre-Medicare retirees with at least 25 years of service who satisfy the rule of 70 pay the
FRS subsidy for coverage, which is $7.50 per year of service month with a maximum of$225 per month.
For those with 20-24 years of service, the retirees will pay 25% of the actuarial rate, and for those with 10-19
years of service the retirees will pay 50% of the actuarial rate.
17
MONROE COUNTY, FLORIDA SHERIFF
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2024
Note 8—Other postemployment benefits (OPEB) plan (continued)
Retirees who have met the requirements for early retirement, have not achieved age 60 and whose age and
years of service do not equal 70 (rule of 70) must pay the standard monthly premium until the age criteria or the
rule of 70 is met. At that time, the retiree's cost of participation will be based on the preceding table. Surviving
spouses and dependents of participating retirees may continue in the plan if eligibility criteria specific to those
classes are met.
An employee who retires as an active participant in the plan, was hired prior to July 1, 2011, 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 Monroe County following retirement, provided the retiring employee contributes
the Actuarial Rate for Medicare retirees as determined by the actuarial firm engaged by the County, less a
$250 per month County subsidy. Alternatively, retirees meeting these criteria may elect to leave the County
health plan and receive a $250 per month payment from the County, payable for the lifetime of the retiree.
The Board engages an actuarial firm on a biannual basis to determine the County's accrued net OPEB liability.
The Sheriff has no responsibility to the OPEB plan other than to make the periodic payments determined by the
Board, which are presented as expenditures when made and amounted to $455,070 for the year ended
September 30, 2024. Further information about the OPEB plan is available in the County's ACFR which is
published on the Clerk's website at www.clerk-of-the-court.com.
Note 9—Risk management
The Sheriff is exposed to various risks of loss related to tort; theft of, damage to, and destruction of assets;
errors and omissions; injuries to employees; and natural disasters. The Sheriff participates in the coverage
provided by the Board for Workers' Compensation, Group Insurance, and Risk Management Internal Service
Funds. Under these programs, Workers' Compensation provides $500,000 coverage per claim for regular
employees. Workers' Compensation claims in excess of the self-insured coverage are covered by an excess
insurance policy. Risk Management has a $5,000,000 excess insurance policy for general liability claims with a
$200,000 self-insured retention, and building property damage is covered for the actual value of the building
with a deductible of$50,000. Deductibles for windstorm and flood vary by location. Monroe County purchases
commercial insurance for claims in excess of coverage provided by the funds and for all other risks of loss.
Settled claims have not exceeded this commercial coverage in any of the past three years. The Sheriff makes
payments to the Workers' Compensation, Group Insurance and Risk Management Funds based on estimates of
the amounts needed to pay prior and current year claims.
Note 10—Litigation
From time to time, the Sheriff is a party to various lawsuits and claims, which it vigorously defends. Such
matters arise out of the normal course of its operation, some of which are covered by insurance policies or by
the Sheriffs participation in the Florida Sheriffs Self-Insurance Fund. While the results of litigation cannot be
predicted with certainty, management believes the final outcome of such litigation will not have a material
adverse effect on the Sheriffs financial position.
18
MONROE COUNTY, FLORIDA SHERIFF
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2024
Note 11—Lease commitments
The Sheriff leases office space and equipment for various terms under certain agreements that meet the
definition of a lease under GASB Statement 87. Detailed information about the Sheriffs leases can be found in
the government-wide financial statements of the County. Lease expenditures for all leases for the year ended
September 30, 2024, amounted to $4,356,051.
Balance Balance
10/1/2023 Additions Deductions 09/30/2024
Lease liability $ 43,287,111 $ - $ (2,993,180) $ 40,293,931
Annual debt service requirements to maturity for lease commitments are as follows:
Buildings Principal Interest Total
Fiscal Year Ending September 30,
2025 $ 3,107,081 $ 1,166,256 $ 4,273,337
2026 3,221,660 1,071,469 4,293,129
2027 3,340,284 973,190 4,313,474
2028 3,455,456 873,727 4,329,183
2029 3,525,039 766,777 4,291,816
2030-2034 18,686,928 2,178,113 20,865,041
2035-2039 4,436,982 343,391 4,780,373
2040-2043 520,501 7,172 527,673
Totals $ 40,293,931 $ 7,380,095 $ 47,674,026
Note 12—Subscription Based Information Technology Agreement Commitments:
The Sheriff has entered into noncancelable agreements that qualify as subscription-based information
technology arrangements (SBITA's) under GASB Statement No. 96, and, therefore, have been recorded at the
present value of the future minimum lease payments as of the date of their inception.
Balance Balance
10/1/2023 Additions Deductions 09/30/2024
SBITA liability $ 140,534 $ 35,972 $ (98,612) $ 77,894
Annual debt service requirements for the SBITA commitments are as follows:
Principal Interest Total
Fiscal Year Ending September 30,
2025 $ 30,364 $ 2,248 $ 32,612
2026 33,100 1,142 34,242
2027 14,430 127 14,557
Totals $ 77,894 $ 3,517 $ 81,411
19
MONROE COUNTY, FLORIDA SHERIFF
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2024
Note 13—Contingencies
The Sheriff is the recipient of grants that are subject to special compliance requirements and audits by the
grantor agencies that may result in disallowed expense amounts. These amounts constitute a contingent liability
of the Sheriff. The Sheriff does not believe any contingent liabilities to be material to the financial statements.
Note 14—Fund Deficit
The Grants Fund has a fund balance deficit of $685,895 due to the timing of grant reimbursements which
resulted in a deferred inflow for unavailable revenues at year end.
20
REQUIRED SUPPLEMENTARY INFORMATION
(Unaudited)
MONROE COUNTY, FLORIDA SHERIFF
REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL - GENERAL FUND
FISCAL YEAR ENDED SEPTEMBER 30, 2024
Variance
Original Final With Final
Budget Budget Actual Budget
Revenues:
Intergovernmental- BOCC $ 67,526,138 $ 67,349,138 $ 67,349,138 $ -
Investment income - - 601,342 601,342
Miscellaneous income - - 954,109 954,109
Total revenues 67,526,138 67,349,138 68,904,589 1,555,451
Expenditures:
Current:
Personnel services 53,557,316 49,906,924 49,592,837 314,087
Operating expenses 12,543,851 13,719,768 13,697,921 21,847
Debt Service:
Principal 65,000 60,508 4,492
Interest and other charges 500 332 168
Capital outlay 1,284,971 3,284,971 3,624,987 (340,016)
Total expenditures 67,386,138 66,977,163 66,976,585 578
Excess of revenues over(under)
expenditures 140,000 371,975 1,928,004 1,556,029
Other financing sources (uses):
Transfer to Board of County Commissioners - (174,689) (1,553,578) (1,378,889)
Transfer to other governments - - (205,533) (205,533)
Transfers to other funds (140,000) (197,286) (168,893) 28,393
Total other financing sources (uses) (140,000) (371,975) (1,928,004) (1,556,029)
Net change in fund balance - - -
Fund balances, beginning of year - - - -
Fund balances, end of year $ - $ - $ - $ -
See note to required supplementary information.
21
MONROE COUNTY, FLORIDA SHERIFF
REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL - TRAUMA STAR
FISCAL YEAR ENDED SEPTEMBER 30, 2024
Variance
Original Final With Final
Budget Budget Actual Budget
Revenues:
Intergovernmental- BOCC $ 5,955,363 $ 6,453,147 $ 6,453,147 $ -
Total revenues 5,955,363 6,453,147 6,453,147 -
Expenditures:
Current:
Personnel services 2,082,289 2,230,073 2,019,881 210,192
Operating expense 3,858,074 4,208,074 2,262,501 1,945,573
Capital outlay 15,000 15,000 - 15,000
Total expenditures 5,955,363 6,453,147 4,282,382 2,170,765
Excess of revenues over(under)
expenditures - - 2,170,765 2,170,765
Other financing sources (uses):
Transfer to Board of County Commissioners - - (2,170,765) (2,170,765)
Total other financing sources (uses) - - (2,170,765) (2,170,765)
Net change in fund balance - - - -
Fund balances, beginning of year - - - -
Fund balances, end of year $ - $ - $ - $ -
See note to required supplementary information.
22
MONROE COUNTY, FLORIDA SHERIFF
REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL- HIDTA GRANTS FUND
FISCAL YEAR ENDED SEPTEMBER 30, 2024
Variance
Original Final With Final
Budget Budget Actual Budget
Revenues:
Intergovernmental-other government units $ 22,750,000 $ 22,500,000 $ 22,342,602 $ (157,398)
Total revenues 22,750,000 22,500,000 22,342,602 (157,398)
Expenditures:
Current:
Personnel services 3,820,000 3,725,000 3,700,409 24,591
Operating expenses 17,700,000 13,950,000 13,908,877 41,123
Debt Service:
Principal - 3,050,000 3,031,284 18,716
Interest - 1,275,000 1,263,927 11,073
Capital outlay 1,230,000 500,000 474,077 25,923
Total expenditures 22,750,000 22,500,000 22,378,574 121,426
Excess of revenues over(under)expenditures - - (35,972) (35,972)
Other financing sources:
Subscription Based Information Tech Arrangements - - 35,972 35,972
Total other financing sources - - 35,972 35,972
Net change in fund balance - - - -
Fund balances, beginning of year - - - -
Fund balances, end of year $ - $ - $ - $ -
See note to required supplementary information.
23
MONROE COUNTY, FLORIDA SHERIFF
REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES (DEFICIT)
BUDGETAND ACTUAL- GRANTS FUND
FISCAL YEAR ENDED SEPTEMBER 30, 2024
Variance
Original Final With Final
Budget Budget Actual Budget
Revenues:
Intergovernmental- BOCC $ 180,000 $ 375,000 $ 364,418 $ (10,582)
Intergovernmental-other government units 765,000 765,000 719,281 (45,719)
Total revenues 945,000 1,140,000 1,083,699 (56,301)
Expenditures:
Current:
Personnel services 750,000 785,000 777,413 7,587
Operating expenses 200,000 350,000 325,035 24,965
Capital outlay 70,000 475,000 460,920 14,080
Total expenditures 1,020,000 1,610,000 1,563,368 46,632
Excess of revenues over(under)expenditures (75,000) (470,000) (479,669) (9,669)
Other financing sources:
Transfers from other funds - - 152,009 152,009
Total other financing sources - - 152,009 152,009
Net change in fund balance (75,000) (470,000) (327,660) 142,340
Fund balances (deficit), beginning of year (358,234) (358,234) (358,234) -
Fund balances (deficit), end of year $ (433,234) $ (828,234) $ (685,894) $ 142,340
See note to required supplementary information.
24
MONROE COUNTY, FLORIDA SHERIFF
REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL - SHARED ASSET FORFEITURE FUND
FISCAL YEAR ENDED SEPTEMBER 30, 2024
Variance
Original Final With Final
Budget Budget Actual Budget
Revenues:
Investment income $ 160,000 $ 295,000 $ 293,315 $ (1,685)
Total revenues 160,000 295,000 293,315 (1,685)
Expenditures:
Current:
Operating expenses 300 200 96 104
Aid to other governments/non-profits 120,000 125,000 124,148 852
Total expenditures 120,300 125,200 124,244 956
Net change in fund balance 39,700 169,800 169,071 (729)
Fund balances, beginning of year 4,609,886 4,609,886 4,609,886 -
Fund balances, end of year $ 4,649,586 $ 4,779,686 $ 4,778,957 $ (729)
See note to required supplementary information.
25
Monroe County, Florida Supervisor of Elections
Note to Required Supplementary Information
Budgetary Requirements — General fund expenditures are controlled by appropriations in accordance
with the budget requirements set forth in the Florida Statutes. The budget is prepared on a basis
consistent with the Florida Department of Revenue rules. Budgets are administered for all funds and are
prepared on a basis consistent with accounting principles generally accepted in the United States of
America. The legal level of budgetary control is at the fund level by functional category.
For financial reporting purposes in the fund financial statements the transfer of excess fees to other
governments outside the County is reported as an operating expenditure and in the budget to actual
schedule they are reported as transfers to other government units for budget purposes since they are not
a budgeted item.
26
SUPPLEMENTARY INFORMATION
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MONROE COUNTY, FLORIDA SHERIFF
NON-MAJOR SPECIAL REVENUE FUNDS DESCRIPTION
The purpose of each non-major special revenue fund in the combining balance sheet and combining statement
of revenues, expenditures and changes in fund balances is described below.
Radio communications fund — This fund accounts for the revenues and expenditures related to radio
communication functions. The Radio communications fund is county-wide and includes the majority of federal,
state, and local entities.
Teen court fund—This fund accounts for receipts and disbursements pertaining to a program designed to deter
juveniles who are becoming involved in crime.
Law enforcement trust fund— This fund accounts for expenditures to non-profit organizations to help deter drug
use and juvenile delinquency.
State fine and forfeiture (State forfeiture) —This fund accounts for the proceeds received primarily from seizures
and forfeitures.
Contract administrative fund — This fund accounts for the administration of contracts between the Sheriff and
third parties.
Commissary fund — This fund accounts for receipts and disbursements of inmate telephone commissions,
canteen revenues and other inmate programs.
Inter-agency communications fund — This fund accounts for revenues and expenditures allocated for radio
communications.
Federal forfeiture fund— This fund accounts for revenues from the U.S. Departments of Justice and Treasury.
Expenditures are made in accordance with the guidelines issued by these agencies.
E-911 fund — This fund accounts for fees levied on each telephone access line in Monroe County for the
enhancement of the 911 emergency telephone systems.
28
MONROE COUNTY,FLORIDA SHERIFF
COMBINING BALANCE SHEET- NON-MAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS
SEPTEMBER 30,2024
Law
Radio Enforcement
Communications Teen Court Trust Fund
ASSETS
Cash and cash equivalents $ 4,736 $ $ 163
Due from Board of County Commissioners - -
Due from other funds 60,389
Due from governmental units 4,746
Due from others -
Total assets $ 4,736 $ 65,135 $ 163
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable $ - $ - $ -
Accrued wages and benefits payable -
Due to Board of County Commissioners 4,736 6
Due to other governmental units - -
Due to other funds 157
Unearned revenues - -
Totalliabilities 4,736 - 163
Fund balances,restricted:
Teen court program - 65,135 -
Inter-agency communication program -
Inmate welfare program
Farm program
E-911 programs
Fund balances,committed:
Contract administration -
Total fund balances - 65,135 -
Total liabilities,deferred inflows of resources and fund balances $ 4,736 $ 65,135 $ 163
29
MONROE COUNTY,FLORIDA SHERIFF
COMBINING BALANCE SHEET- NON-MAJOR GOVERNMENTAL FUNDS(Continued)
SPECIAL REVENUE FUNDS
SEPTEMBER 30,2024
State Contract
Forfeiture Administrative Commissary
ASSETS
Cash and cash equivalents $ 50,861 $ $ 1,675,012
Due from Board of County Commissioners - -
Due from other funds 157 1,885,070 3,316
Due from governmental units - 83,871 -
Due from others - - 54,417
Total assets $ 51,018 $ 1,968,941 $ 1,732,745
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable $ - $ - $ 61,407
Accrued wages and benefits payable - - 4,293
Due to Board of County Commissioners 8,397 301,327 -
Due to other governmental units - 6,405 50,000
Due to other funds 42,621 12,400 15,910
Unearned revenues - 56,174
Total liabilities 51,018 376,306 131,610
Fund balances,restricted:
Teen court program - - -
Inter-agency communication program -
I nmate welfare program 1,468,146
Farm program 132,989
E-911 programs - -
Fund balances,committed:
Contract administration 1,592,635
Total fund balances - 1,592,635 1,601,135
Total liabilities,deferred inflows of resources and fund balances $ 51,018 $ 1,968,941 $ 1,732,745
30
MONROE COUNTY,FLORIDA SHERIFF
COMBINING BALANCE SHEET- NON-MAJOR GOVERNMENTAL FUNDS (Continued)
SPECIAL REVENUE FUNDS
SEPTEMBER 30,2024
Total
Nonmajor
Inter-Agency Federal Special Revenue
Communications Forfeiture E-911 Funds
ASSETS
Cash and cash equivalents $ 193,559 $ 12 $ 1,912,364 $ 3,836,707
Due from Board of County Commissioners 13,835 - 45,534 59,369
Due from other funds - 42,621 15,821 2,007,374
Due from governmental units - - 88,617
Due from others - - 1,120 55,537
Total assets $ 207,394 $ 42,633 $ 1,974,839 $ 6,047,604
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable $ 3,567 $ 42,621 $ 7,755 $ 115,350
Accrued wages and benefits payable - - 3,344 7,637
Due to Board of County Commissioners 12 39 314,517
Due to other governmental units - - 56,405
Due to other funds 309 2,060 73,457
Unearned revenues 19,987 - - 76,161
Total liabilities 23,863 42,633 13,198 643,527
Fund balances,restricted:
Teen court program - - - 65,135
Inter-agency communication program 183,531 183,531
Inmate welfare program - 1,468,146
Farm program - 132,989
E-911 programs 1,961,641 1,961,641
Fund balances,committed:
Contract administration - - 1,592,635
Total fund balances 183,531 1,961,641 5,404,077
Total liabilities,deferred inflows of resources and fund balances $ 207,394 $ 42,633 $ 1,974,839 $ 6,047,604
31
MONROE COUNTY, FLORIDA SHERIFF
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
NON-MAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS
FISCAL YEAR ENDED SEPTEMBER 30, 2024
Law
Radio Enforcement
Communications Teen Court Trust Fund
Revenues:
Intergovernmental-BOCC $ 1,064,228 $ $ 7,337
Intergovernmental-other government units - -
Charges for services - 64,993
Fines and forfeitures - -
Investment income 157
Miscellaneous - -
Totalrevenues 1,064,228 64,993 7,494
Expenditures:
Current:
Personnel services 293,084 36,377 -
Operating expenses 766,408 1,599 6,994
Capital outlay - - -
Aid to other governments/non-profits - - 500
Total expenditures 1,059,492 37,976 7,494
Excess of revenues over
(under)expenditures 4,736 27,017 -
Other financing sources(uses):
Transfers from other funds - -
Transfer to Board of County Commissioners (4,736)
Total other financing sources(uses) (4,736)
Net change in fund balance 27,017
Fund balances,beginning of year 38,118
Fund balances,end of year $ $ 65,135 $
32
MONROE COUNTY, FLORIDA SHERIFF
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES (Continued)
NON-MAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS
FISCAL YEAR ENDED SEPTEMBER 30, 2024
State Contract
Forfeiture Administrative Commissary
Revenues:
Intergovernmental-BOCC $ $ - $
Intergovernmental-other government units 1,586,121 -
Charges for services 4,422,758 647,392
Fines and forfeitures 7,930 - -
Investment income 467 62,840 69,077
Miscellaneous income - 3,000 28,040
Total revenues 8,397 6,074,719 744,509
Expenditures:
Current:
Personnel services - 5,307,754 185,860
Operating expenses 579,155 413,451
Capital outlay 64,254 42,433
Aid to other governments/non-profits - -
Total expenditures - 5,951,163 641,744
Excess of revenues over(under)
expenditures 8,397 123,556 102,765
Other financing sources(uses):
Transfers from other funds - 16,884 -
Transfer to Board of County Commissioners (8,397) -
Total other financing sources(uses) (8,397) 16,884
Net change in fund balance 140,440 102,765
Fund balances,beginning of year 1,452,195 1,498,370
Fund balances,end of year $ 1,592,635 $ 1,601,135
33
MONROE COUNTY, FLORIDA SHERIFF
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES (Continued)
NON-MAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS
FISCAL YEAR ENDED SEPTEMBER 30, 2024
Total Nonmajor
Inter-Agency Federal Special Revenue
Communications Forfeiture E-911 Funds
Revenues:
Intergovernmental-BOCC $ 199,287 $ 42,621 $ 654,427 $ 1,967,900
Intergovernmental-other government units - 45,705 - 1,631,826
Charges for services - 5,135,143
Fines and forfeitures - - 7,930
Investment income 6,843 81,253 220,637
Miscellaneous income 27,080 - 58,120
Total revenues 233,210 88,326 735,680 9,021,556
Expenditures:
Current:
Personnel services - 39,087 174,182 6,036,344
Operating expenses 149,706 7,485 221,577 2,146,375
Capital outlay - 41,754 - 148,441
Aid to other governments/non-profits - - 500
Total expenditures 149,706 88,326 995,759 8,331,660
Excess of revenues over(under)
expenditures 83,504 - 339,921 689,896
Other financing sources(uses):
Transfers from other funds - - 16,884
Transfer to Board of County Commissioners (13,133)
Total other financing sources(uses) - - 3,751
Net change in fund balance 83,504 339,921 693,647
Fund balances,beginning of year 100,027 1,621,720 4,710,430
Fund balances,end of year $ 183,531 $ $ 1,961,641 $ 5,404,077
34
MONROE COUNTY, FLORIDA SHERIFF
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL - RADIO COMMUNICATIONS
FISCAL YEAR ENDED SEPTEMBER 30, 2024
Variance
Original Final With Final
Budget Budget Actual Budget
Revenues:
Intergovernmental -BOCC $ 887,228 $ 1,064,228 $ 1,064,228 $ -
Total revenues 887,228 1,064,228 1,064,228 -
Expenditures:
Current:
Personnel services 263,200 293,200 293,084 116
Operating expense 616,028 771,028 766,408 4,620
Capital outlay 8,000 - - -
Total expenditures 887,228 1,064,228 1,059,492 4,736
Excess of revenues over(under)
expenditures - - 4,736 4,736
Other financing sources(uses):
Transfer(to) Board of County Commissioners - - (4,736) (4,736)
Total other financing sources(uses) - - (4,736) (4,736)
Net change in fund balance - - - -
Fund balances, beginning of year - - - -
Fund balances, end of year $ - $ - $ - $ -
35
MONROE COUNTY, FLORIDA SHERIFF
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND
BUDGET AND ACTUAL - CONTRACT ADMINISTRATIVE FUND
FISCAL YEAR ENDED SEPTEMBER 30, 2024
Variance
Original Final with Final
Budget Budget Actual Budget
Revenues:
Intergovernmental-other governmental units $ 1,490,000 $ 1,590,000 $ 1,586,121 $ (3,879)
Charges for services 4,335,000 4,440,000 4,425,758 (14,242)
Investment income 40,000 65,000 62,840 (2,160)
Total revenues 5,865,000 6,095,000 6,074,719 (20,281)
Expenditures:
Current:
Personnel 4,905,000 5,320,000 5,307,754 12,246
Operating expenses 625,000 585,000 578,655 6,345
Capital expenses 110,000 65,000 64,254 746
Aid to other governments/non-profits 6,000 750 500 250
Total expenditures 5,646,000 5,970,750 5,951,163 19,587
Excess of revenues over(under)
expenditures 219,000 124,250 123,556 (694)
Other financing sources (uses)
Transfers from other funds - 16,884 16,884
Total other financing sources (uses) - 16,884 16,884
Net change in fund balance 219,000 124,250 140,440 16,190
Fund balances, beginning of year 1,961,641 1,961,641 1,452,195 (509,446)
Fund balances, end of year $ 2,180,641 $ 2,085,891 $ 1,592,635 $ (493,256)
36
MONROE COUNTY, FLORIDA SHERIFF
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND
BUDGET AND ACTUAL - TEEN COURT FUND
FISCAL YEAR ENDED SEPTEMBER 30, 2024
Variance
Original Final With Final
Budget Budget Actual Budget
Revenues:
Charges for services $ 65,000 $ 65,000 64,993 $ (7)
Total revenues 65,000 65,000 64,993 (7)
Expenditures:
Current:
Personnel services 38,000 38,000 36,377 1,623
Operating expense 3,000 3,000 1,599 1,401
Total expenditures 41,000 41,000 37,976 3,024
Net change in fund balance 24,000 24,000 27,017 3,017
Fund balances, beginning of year 38,118 38,118 38,118 -
Fund balances, end of year $ 62,118 $ 62,118 $ 65,135 $ 3,017
37
MONROE COUNTY, FLORIDA SHERIFF
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND
BUDGET AND ACTUAL - LAW ENFORCEMENT TRUST FUND
FISCAL YEAR ENDED SEPTEMBER 30, 2024
Variance
Original Final With Final
Budget Budget Actual Budget
Revenues:
Intergovernmental - BOCC $ 7,497 $ 7,500 $ 7,337 $ (163)
Investment income - - 157 157
Total revenues 7,497 7,500 7,494 (6)
Current:
Operating expense 5,497 7,000 6,994 6
Aid to other governments/non-profits 2,000 500 500 -
Total expenditures 7,497 7,500 7,494 6
Net change in fund balance - - - -
Fund balances, beginning of year - - - -
Fund balances, end of year $ - $ - $ - $ -
38
MONROE COUNTY, FLORIDA SHERIFF
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND
BUDGET AND ACTUAL - STATE FORFEITURE FUND
FISCAL YEAR ENDED SEPTEMBER 30, 2024
Variance
Original Final With Final
Budget Budget Actual Budget
Revenues:
Fines and forfeitures $ 40,000 $ 8,000 $ 7,930 $ (70)
Investment income 1,500 1,000 467 (533)
Total revenues 41,500 9,000 8,397 (603)
Expenditures:
Current:
Operating expenses 12,000 - - -
Total expenditures 12,000 - - -
Excess of revenues over(under)
expenditures 29,500 9,000 8,397 (603)
Other financing uses:
Transfer(to) Board of County Commissioners (29,500) (9,000) (8,397) 603
Total other financing uses (29,500) (9,000) (8,397) 603
Net change in fund balance - - - -
Fund balances, beginning of year - - - -
Fund balances, end of year $ - $ - $ - $ -
39
MONROE COUNTY, FLORIDA SHERIFF
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND
BUDGET AND ACTUAL - CONTRACT ADMINISTRATIVE FUND
FISCAL YEAR ENDED SEPTEMBER 30, 2024
Variance
Original Final With Final
Budget Budget Actual Budget
Revenues:
Intergovernmental-other governmental units $ 1,490,000 $ 1,590,000 $ 1,586,121 $ (3,879)
Charges for services 4,335,000 4,440,000 4,425,758 (14,242)
Investment income 40,000 65,000 62,840 (2,160)
Total revenues 5,865,000 6,095,000 6,074,719 (20,281)
Expenditures:
Current:
Personnel 4,905,000 5,320,000 5,307,754 12,246
Operating expenses 625,000 585,000 578,655 6,345
Capital expenses 110,000 65,000 64,254 746
Aid to other governments/non-profits 6,000 750 500 250
Total expenditures 5,646,000 5,970,750 5,951,163 19,587
Excess of revenues over(under)
expenditures 219,000 124,250 123,556 (694)
Other financing sources(uses)
Transfers from other funds - 16,884 16,884
Total other financing sources(uses) - 16,884 16,884
Net change in fund balance 219,000 124,250 140,440 16,190
Fund balances, beginning of year 1,961,641 1,961,641 1,452,195 (509,446)
Fund balances, end of year $ 2,180,641 $ 2,085,891 $ 1,592,635 $ (493,256)
40
MONROE COUNTY, FLORIDA SHERIFF
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND
BUDGET AND ACTUAL - COMMISSARY FUND
FISCAL YEAR ENDED SEPTEMBER 30, 2024
Variance
Original Final with Final
Budget Budget Actual Budget
Revenues:
Charges for services $ 760,000 $ 650,000 $ 647,392 $ (2,608)
Investment income 50,000 70,000 69,077 (923)
Miscellaneous income 50,000 30,000 28,040 (1,960)
Total revenues 860,000 750,000 744,509 (5,491)
Expenditures:
Current:
Personnel expenses 200,000 200,000 185,860 14,140
Operating expenses 380,000 420,000 413,451 6,549
Capital outlay 50,000 50,000 42,433 7,567
Total expenditures 630,000 670,000 641,744 28,256
Net change in fund balance 230,000 80,000 102,765 22,765
Fund balances, beginning of year 1,498,370 1,498,370 1,498,370 -
Fund balances, end of year $ 1,728,370 $ 1,578,370 $ 1,601,135 $ 22,765
41
MONROE COUNTY, FLORIDA SHERIFF
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND
BUDGET AND ACTUAL - INTER-AGENCY COMMUNICATIONS FUND
FISCAL YEAR ENDED SEPTEMBER 30, 2024
Variance
Original Final With Final
Budget Budget Actual Budget
Revenues:
Intergovernmental- BOCC $ 200,000 $ 200,000 $ 199,287 $ (713)
Miscelleneous Revenues 30,000 30,000 27,080 (2,920)
Investment income 5,000 7,000 6,843 (157)
Total revenues 235,000 237,000 233,210 (3,790)
Expenditures:
Current:
Operating expense 225,000 155,000 149,706 5,294
Capital outlay - - - -
Total expenditures 225,000 155,000 149,706 5,294
Net change in fund balance 10,000 82,000 83,504 1,504
Fund balances, beginning of year 100,027 100,027 100,027 -
Fund balances, end of year $ 110,027 $ 182,027 $ 183,531 $ 1,504
42
MONROE COUNTY, FLORIDA SHERIFF
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL - FEDERAL FORFEITURE FUND
FISCAL YEAR ENDED SEPTEMBER 30, 2024
Variance
Original Final With Final
Budget Budget Actual Budget
Revenues:
Intergovernmental-other government units $ - $ - $ 88,326 $ 88,326
Total revenues - - 88,326 88,326
Expenditures:
Current:
Personnel services 50,000 40,000 39,087 913
Operating expenses 75,000 10,000 7,485 2,515
Capital expenses 265,000 45,000 41,754 3,246
Total expenditures 390,000 95,000 88,326 6,674
Net change in fund balance (390,000) (95,000) - 95,000
Fund balances, beginning of year - - - -
Fund balances, end of year $ (390,000) $ (95,000) $ - $ 95,000
43
MONROE COUNTY, FLORIDA SHERIFF
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND
BUDGET AND ACTUAL - E-911
FISCAL YEAR ENDED SEPTEMBER 30, 2024
Variance
Original Final With Final
Budget Budget Actual Budget
Revenues:
Intergovernmental-BOCC $ 565,000 $ 670,000 $ 654,427 $ (15,573)
Investment income 55,000 85,000 81,253 (3,747)
Total revenues 620,000 755,000 735,680 (19,320)
Expenditures:
Current:
Personnel services 165,000 180,000 174,182 5,818
Operating expense 285,000 225,000 221,577 3,423
Capital outlay 30,000 1,500 - 1,500
Total expenditures 480,000 406,500 395,759 10,741
Net change in fund balance 140,000 348,500 339,921 (8,579)
Fund balances, beginning of year 1,621,720 1,621,720 1,621,720 -
Fund balances, end of year $ 1,761,720 $ 1,970,220 $ 1,961,641 $ (8,579)
44
MONROE COUNTY, FLORIDA SHERIFF
CUSTODIAL FUNDS DESCRIPTION
The purpose of each Custodial fund in the combining financial statement on the following page is described
below.
Bonds Fund—This fund accounts for receipts and disbursements of the monies held by the Sheriff on behalf of
defendants with ongoing court cases.
Inmate Fund—This fund accounts for receipts and disbursements of the monies held by the Sheriff on behalf of
incarcerated inmates.
45
MONROE COUNTY, FLORIDA SHERIFF
COMBINING STATEMENT OF FIDUCIARY NET POSITION
CUSTODIAL FUNDS
SEPTEMBER 30, 2024
Total
Bonds Inmate Custodial
ASSETS
Cash and cash equivalents $ 866,660 $ 29,598 $ 896,258
Due from others - 8,883 8,883
Total Assets $ 866,660 $ 38,481 $ 905,141
LIABILITIES
Accounts payable $ - $ 23,373 $ 23,373
Total Liabilities $ - $ 23,373 $ 23,373
NET POSITION
Restricted for:
Individuals, organizations and
other governments $ 866,660 $ 15,108 $ 881,768
Total Net Position $ 866,660 $ 15,108 $ 881,768
46
MONROE COUNTY, FLORIDA SHERIFF
COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
CUSTODIAL FUNDS
FISCAL YEAR ENDED SEPTEMBER 30, 2024
Total
Bonds Inmate Custodial
Additions:
Payments made to bond accounts $ 955,180 $ - $ 955,180
Payments made to inmate accounts - 1,287,956 1,287,956
Total additions $ 955,180 $ 1,287,956 $ 2,243,136
Deductions:
Payments to depositors $ 1,080,307 $ - $ 1,080,307
Payments of inmate services - 970,151 970,151
Payments of inmate release funds - 353,019 353,019
Total deductions $ 1,080,307 $ 1,323,170 $ 2,403,477
Net change in fiduciary net postion $ (125,127) $ (35,214) $ (160,341)
Net Position, beginning October 1 991,787 50,322 1,042,109
Net Position, Ending September 30 $ 866,660 $ 15,108 $ 881,768
47
OTHER REPORTS
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IRS111A US III..JII..J11P
Report 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
Independent Auditor's Report
Honorable Rick Ramsay,
Sheriff of Monroe County, Florida
We have audited, in accordance with the 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 (Government Auditing Standards), the financial
statements of each major fund and the aggregate remaining fund information of the Monroe County,
Florida, Sheriff(the Sheriff) as of and for the year ended September 30, 2024, and the related notes to
the financial statements, which collectively comprise the Sheriffs financial statements, and have issued
our report thereon dated April 7, 2025. Our report included an emphasis of matter paragraph to reflect
that these financial statements were prepared to comply with Section 218.39, Florida Statutes and
Chapter 10.557(3), Rules of the Auditor General for Local Governmental Entity Audits and are intended to
present the financial position and the changes in financial position of the Sheriff and do not represent a
complete presentation of the financial statements of Monroe County, Florida.
Report on Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the Sheriffs internal
control over financial reporting (internal control) 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 Sheriffs internal control.
Accordingly, we do not express an opinion on the effectiveness of the Sheriff's internal control.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent, or
detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control such that there is a reasonable possibility that a material
misstatement of the entity's financial statements will not be prevented, or detected and corrected, on a
timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control
that is less severe than a material weakness, yet important enough to merit attention by those charged
with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this
section and was not designed to identify all deficiencies in internal control that might be material
weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any
deficiencies in internal control that we consider to be material weaknesses. However, material
weaknesses or significant deficiencies may exist were not identified.
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Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Sheriffs financial statements are free of
material misstatement, we performed tests of its compliance with certain provisions of laws, regulations,
contracts and grant agreements, noncompliance with which could have a direct and material effect on the
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.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance
and the results of that testing, and not to provide an opinion on the effectiveness of the Sheriff's internal
control or on compliance. This report is an integral part of an audit performed in accordance with
Government Auditing Standards in considering the entity's internal control and compliance. Accordingly,
this communication is not suitable for any other purpose.
ILO
S
Fort Lauderdale, Florida
April 7, 2025
49
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IRS111A US III..JII..J11P
Management Letter in Accordance with Chapter 10.550,
Rules of the Auditor General of the State of Florida
Honorable Richard A. Ramsay,
Sheriff of Monroe County, Florida
Report on the Financial Statements
We have audited the financial statements of the Monroe County, Florida, Sheriff(the Sheriff), as of and
for the fiscal year ended September 30, 2024, and have issued our report thereon dated April 7, 2025.
Auditor's Responsibility
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America; the standards applicable to financial audits contained in Government Auditing Standards, issued
by the Comptroller General of the United States; and Chapter 10.550, Rules of the Auditor General.
Other Reporting Requirements
We have issued our Independent Auditor's Report 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 and our Independent Accountant's Report on an examination conducted
in accordance with AICPA Professional Standards, AT-C Section 315, regarding compliance
requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those
reports, which are dated April 7, 2025, should be considered in conjunction with this management letter.
Prior Audit Findings
Section 10.554(1)(i)l., Rules of the Auditor General, requires that we determine whether or not corrective
actions have been taken to address findings and recommendations made in the preceding annual
financial audit report. No findings or recommendations were made in the preceding annual audit 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 the
management letter, unless disclosed in the notes to the financial statements. The legal authority is
disclosed in Note 1 to the financial statements.
Financial Management
Section 10.554(1)(i)2., Rules of the Auditor General, requires that we communicate any recommendations
to improve financial management. In connection with our audit, we did not have any such
recommendations.
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 warrants the attention of
those charged with governance. In connection with our audit, no such matters were reported.
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Purpose of this Letter
Our management letter is intended solely for the information and use of the Legislative Auditing
Committee, members of the Florida Senate and Florida House of Representatives, the Florida Auditor
General, Federal and other granting agencies, Monroe County, Florida, the Sheriff and applicable
management, and is not intended to be and should not be used by anyone other than these specified
parties.
Fort Lauderdale, Florida
April 7, 2025
51
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IRS111W US III..JII..J11P
Independent Accountant's Report on Compliance
with Local Government Investment Policies
Honorable Richard A. Ramsay,
Sheriff of Monroe County, Florida
We have examined the Monroe County, Florida, Sheriff's (the Sheriffs) compliance with the local
government investment policy requirements of Section 218.415, Florida Statutes(the specified
requirements), during the period October 1, 2023 to September 30, 2024. Management of the Sheriff is
responsible for the Sheriff's compliance with the specified requirements. Our responsibility is to express
an opinion on the Sheriff's compliance with the specified requirements based on our examination.
Our examination was conducted in accordance with attestation standards established by the AICPA.
Those standards require that we plan and perform the examination to obtain reasonable assurance about
whether the Sheriff complied, in all material respects, with the specified requirements referenced above.
An examination involves performing procedures to obtain evidence about whether the Sheriff 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.
We are required to be independent and to meet our other ethical responsibilities in accordance with
relevant ethical requirements relating to the engagement.
Our examination does not provide a legal determination of the Sheriffs compliance with the specified
requirements.
In our opinion, the Sheriffs complied, in all material respects, with the specified requirements during the
period October 1, 2023 to September 30, 2024.
This report is intended solely for the information and use of the Florida Auditor General, the Sheriffs
office, Monroe County, Florida, and applicable management and is not intended to be, and should not be,
used by anyone other than these specified parties.
Fort Lauderdale, Florida
April 7, 2025
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