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Fiscal Year 1987 xt •pN fit 5A �P f F { , 1 r Y� �r Zm% CY) C-') MCM C.3 L CIO CD W CL = C= eu E C2. E C:) CL, w of cm CL, CL, cc gym Lu CL CD W CO r-L CLIJ cc cm E w CIO C.2 CLD E E co COD C.* m w E cz cc w r — L— cc c C=C4 CDCaCL CL CL cc w co mcm CD C2 cm cm -T- C13 C.3 cq Co C* w C* W CO E cm E = =E C.2— CD U. CL CZ cm C.3 O CL, COD C® as cm C-3 C.2 C-3 S L4 CZ ME .T-- Z CD LW E E co Z= w as C.1) co CIO C..j E woo E CO C33 M Cc M = =L W E:g w CLI C2 LU W® C.3 cm w c ui r-L COD= w CLI) C5 cz w w w w L- E E cc E COD ML cc ca cl CL CL ca, G3 CLIJ w C2 C*= cm ME cz C.a cm COD CM .rw = C13 Cm Cc E C4 w C* L- M ML CV C, CL CL CD CLIJ ems= L M CL-I CD C, cocz -cc ONROE COUNTY KEY WEST , FLORIDA BOARD OF COUNTY COMMISSIONERS Eugene R . Lytton , Sr . , Chairman William Freeman Jerry Hernandez , Jr . John Stormont Michael H . Puto COUNTY ADMINISTRATOR Thomas W. Drown COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR FISCAL YEAR ENDED SEPTEEER 30, 1987 CLERK OF CIRCUIT COURT AND CHIEF FINANCIAL OFFICER Danny L . Kolhage FINANCE DIRECTOR James C . Matthews MONROE COUNTY , FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED SEPTEMBER 30 , 1987 TABLE OF CONTENTS Introductory Section Pages Transmittal Letter of the Clerk of Circuit Court. . . . . . . . . . . I-XII Financial Section Auditor ' s Reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-4 COMBINED FINANCIAL STATEMENTS : General Purpose Financial Statements : Combined Balance Sheet - All Fund Types and AccountGroups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-8 Combined Statement of Revenues , Expenditures and Changes in Fund Balances - All Governmental Fund Types and Expendable Trust Funds . . . . . . . . . . . . . . . . . . . 9- 10 Combined Statement of Revenues , Expenditures and Changes in Fund Balances - Budget and Actual General , Special Revenue , Debt Service and Capital Project Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11- 14 Combined Statement of Revenues , Expenses and Changes in Retained Earnings - All Proprietary Fund FundTypes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Combined Statement of Changes in Financial Position All Proprietary Fund Types . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16- 17 Notes to the Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . 18- 36 COMBINING STATEMENTS - SUPPLEMENTAL INFORMATION GOVERNMENTAL FUND TYPES : ,Special Revenue Funds Combining Balance Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37- 38 Combining Statement of Revenues , Expenditures and Changes in Fund Balances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39-40 TABLE OF CONTENTS ( CONTINUED ) ----- -- -------- ---- --- Special Revenue Funds : (Continued ) — ------- ------ — — Combining Statement of Revenues , Expenditures and Changes in Fund Balances - Budget andActual . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41-62 Debt Service Funds ---- ------- ----- Combining Balance Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63 Combining Statement of Revenues , Expenditures and Changes in Fund Balances . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64 Combining Statement of Revenues , Expenditures and Changes in Fund Balances - Budget and Actual . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65-66 Capital Project Funds CombingBalance Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 Combining Statement of Revenues , Expenditures and Changes in Fund Balances . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68 Combining Statement of Revenues , Expenditures and Changes in Fund Balances - Budget and Actual . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69-70 PROPRIETARY FUND TYPES : Enterprise Funds Combining Balance Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71- 72 Combining Statement of Revenues , Expenses and Changes in Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . 73 Combining Statement of Changes in Financial Position . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74-75 Municipal Service District - Waste : Revenue Bond Issue - Description . . . . . . . . . . . . . . . . . . . . . . . . 76 Schedule of Debt Service Requirements . . . . . . . . . . . . . . . . . . . 77 Internal Service Funds -------- ------- ----- Combining Balance Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78 Combining Statement of Revenues , Expenses and Changes in Retained Earnings ( Deficit ) . . . . . . . . . . . . . . . . . . 79 Combining Statement of Changes in Financial Position . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80 FIDUCIARY FUNDS AND ACCOUNT GROUPS : Trust and Agencz Funds Combining Balance Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 81-82 TABLE OF CONTENTS ( CONTINUED ) Trust and Agency Funds ( Continued } Combining Statement of Revenues , Expenditures and Changes in Fund Balances - Expendable TrustFunds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83 Combining Statement of Changes in Assets and Liabilities - Agency Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84-85 Account Group_s Schedules Schedule--O-f—General--Fl—'—x—ed Assets by Source . . . . . . . . . . . . . . . . . . . 86 Schedule of General Fixed Assets by Function and Activity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87-88 Schedule of Changes in General Fixed Assets by Function and Activity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89- 92 Combining Statement of General Long- term Debt and Changes in General Long-Term Debt . . . . . . . . . . . . . . . . . . . . 93 Refunding Improvement Revenue Bonds - Series 1983 Revenue Bond Issues - Description . . . . . . . . . . . . . . . . . . . . . . . . 94 Refunding Improvement Revenue Bonds - Series 1983 Schedule of Debt Service Requirements . . . . . . . . . . . . . . . . . . . . 95 STATISTICAL SECTION General Government Expenditures by Function . . . . . . . . . . . . . . . . . . 96- 97 General Government Revenues by Source . . . . . . . . . . . . . . . . . . . . . . . 98- 99 Property Tax Levies and Collections . . . . . . . . . . . . . . . . . . . . . . . . . . 100 Assessed and Estimated Actual Value of TaxableProperty. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101 Property Tax Rates - All Overlapping Governments . . . . . . . . . . . . . 102 Ratio of Net General Bonded Debt to Assessed Value and Net Bonded Debt Per Capita . . . . . . . . . . . . . . . . . . . . . 103 Computation of Direct and Overlapping Debt . . . . . . . . . . . . . . . . . . . 104 Computation of Legal Debt Margin . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105 Ratio of Annual Debt Service Expenditures for General Debt to Total General Government Expenditure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106 Schedule of Revenue Bond Coverage : Municipal Service District - Waste . . . . . . . . . . . . . . . . . . . . . . . 107 Schedule of Insurance in Force . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108- 114 Schedule of Insurance Company. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115 Schedule if Insurance Agency. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116 Salaries and Surety Bonds of Principal Officials . . . . . . . . . . . . . 117 TABLE OF CONTENTS (CONTINUED ) ----- -- -------- ----------- STATISTICAL SECTION ( CONTINUED Demographic Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 118 Miscellaneous Statistical Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 119 TenLargest Taxpayers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120 Property Value , Construction and Bank Deposits . . . . . . . . . . . . . . . 121 SINGLE AUDIT/GRANTS COMPLIANCE SCHEDULES ------ ------------ ---------- --------- Monroe County Board of County Commissioners - Report on Schedule of Federal and State Financial Assistance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 122 Report on Compliance with Laws and Regulations - Federal and State Financial Assistance Program. . . . . . . . . . 123 Report on Internal Controls - Federal and State Financial Assistance Programs . . . . . . . . . . . . . . . . . . . . . . . . . . . 124- 126 Schedule of Federal Financial Assistance . . . . . . . . . . . . . . . . . 127- 132 Schedule of State Financial Assistance . . . . . . . . . . . . . . . . . . . 133- 136 Notes to Schedule of Federal and State Financial Assistance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 137- 138 �gcc,uwra�� RANCH OFFICE CLERK OF THE CIRCUIT CC)I.TRT BRANCH OFFICE 3117 OVERSEAS HIGHWAY MONROE COUNTY P.O OX 379 MARATHON, FLORIDA 33050 500 WHITEHEAD STREET PLANTATION KEY, FLORIDA 33070 TEL. (305)743-9036 KEY WEST, FLORIDA 33040 TEL. (305)852-9253 TEL. (305)294-4641 Honorable Eugene R . Lytton , Sr . Chairman , Board of County Commissioners Monroe County, Florida March 30 , 1988 Dear Mr . Lytton : We are pleased to present to you , the Board of County Commissioners , and the citizens of Monroe County, the Comprehensive Annual Financial Report of Monroe County, Florida for the fiscal year ended September 30 , 1987 . This report was prepared by the Finance Department of the Clerk of Circuit Court . The accompanying financial statements and statistical , tables were prepared in conformance with standards set forth by: 1 . The Government Accounting Standards Board 2 . The American Institute of Certified Public Accountants and its Committee on Governmental Accounting and Auditing 3 . The State Auditor , State of Florida 4 . The Governmental Finance Officers Association of the United States and Canada Responsibility for both the accuracy of the presented data and the completeness and fairness of the presentation , including all disclosure , rests with the Clerk of the Circuit Court as Chief Financial Officer of Monroe County. We believe the data as pre- sented is accurate in all material aspects ; that it is presented in a manner designed to fairly set forth the financial position and results of operations of the County as measured by the finan- cial activity of its various funds ; and that all disclosures necessary to enable the reader to gain a comprehensive understanding of the County ° s financial activity have been included ® The purpose of this letter is to narratively point out the highlights of the County " s financial operations for the past fiscal year . The report contains three main sections : introduc- tory, financial and statistical . The introductory section is designed to give the reader of the financial report some basic I background about the County and its financial position . The financial section includes the opinion letter from the auditors , the general purpose financial statements , the notes to the finan- cial statements and the combining statements by fund type . The statistical section reflects social and economic data , financial trends and other indicators of the fiscal capacity of Monroe County. THE REPORTING ENTITY Monroe County is a Non-Charter County established under the Constitution and the laws of the State of Florida . This Comprehensive Annual Report is a County-wide report which disclo- ses the results of operations for the following entities : The Board of County Commissioners , which also encompasses the Monroe County Municipal Services Waste Department and the Monroe County Tourist Development Council , and the following Constitutional Officers : 1 . The Clerk of the Circuit Court 2 . The Property Appraiser 3 . The Sheriff 4 . The Supervisor of Elections 5 . The Tax Collector This report includes all funds and account groups of govern- mental operations that are controlled by or dependent upon the County, as determined on the basis of budgetary oversight , taxing authority, or the County' s obligation to fund any deficits that may occur . The Board of County Commissioners is the legislative body for Monroe County, and as such , budgets and provides all the funding used by the various County departments and the separate Constitutional Officers with the exception of fees collected by the Clerk of Circuit Court and the Tax Collector . Under the direction of the Clerk of the Circuit Court , the Finance Department maintains the accounting system for the County' s operations including the Supervisor of Elections , and the General Operating Fund of the Clerk of the Circuit Court , which is included in the General Fund . The Clerk of Circuit Court (Agency Fund ) , the Property Appraiser , the Sheriff and the Tax Collector maintain their own accounting systems . However , for purposes of this Comprehensive Annual Financial Report , the operations of the County as a whole , including all of the Constitutional Officers , have been presented . INTERNAL ACCOUNTING AND BUDGETARY CONTROLS In maintaining and improving the County' s accounting system , consideration is given to the adequacy of internal accounting controls . Internal accounting controls are designed to provide II reasonable , but not absolute , assurance regarding ® 1 ) the safeguard of assets against loss from unauthorized use of disposition ; and , 2 ) the reliability of financial records for preparing financial statements and maintaining accountability for assets . The concept of reasonable assurance recognizes that ® 1 ) the cost of a control should not exceed the benefits likely to be derived ; and , 2 ) the evaluation of costs and benefits requires estimates and judgments by management ® All internal control evaluations occur within the above fra- mework ® We believe that the County' s internal accounting controls adequately safeguard assets and provide reasonable assurance of proper recording of financial transactions ® Formal budgetary integration is employed as a management control device during the years for all fund types ® Budget for all funds are adopted on a basis consistent with generally accepted accounting principles ( AAP ) ® FINANCIAL OVERVIEW Total general government revenues collected by Monroe County during the past years amounted to approximately 43. 9 million dollars . 'This amount includes revenues of the General Fund and the Special Revenue , Debt Service , Capital Project and Fiduciary Fund Types but does not include collections from the Proprietary Funds . Taxes of about 25 . 6 million dollars comprised the largest general government revenue source with ad valorem taxes accounting for about 48% , locally imposed tourist development bed tax accounting for 7% and another 3% for the locally imposed gas taxes . The second largest revenue category is Intergovernmental revenues which includes a variety of state and federal shared grants- in-aid and amounts to about 9 ® 5 million dollars . Charges for services comprise the third largest revenue source which amounts to over 2 . 6 million dollars . The charges include fees collected by the Tax Collector and the Clerk of Circuit Court and a variety of other user charges ® The remaining general govern- ment revenues are composed of about 1 ® million dollars for interest income , 1 ® 4 million dollars for fines and forfeitures with licen- ses and permits , assessments and miscellaneous revenues amount to approximately 3 million dollars ® The following graph illustrates a eight-year history of Monroe County' s general government revenues : ONROE COUNTY, FLORMA ff soun 45 40 t 30 tE� � t r tttl t t bit t s)VI ttt 4 ` '3tt tt 7 �tt't ti It )tgtd'. t t s t i i s. � tt {t tt��t)si�3t§t't t tit t�t jt„7 �fir J h t titt tit t stt}t�y Yt�tSi !(I th y tt t 20 �tif it tsl tits ,t,t a;11�' Et it t }r?� NA 10 i t�}�t� tt it i�t 2-t t9trt'l tint t' ` t1�611 5 0 1960 1981 1982 1983 1984 1985 1986 1987 ym T' FMWNRFlffMS TV Total revenues collected by all fund types including the governmental funds previously listed above , as well as , the Proprietary Funds (Municipal Services District Waste , Card Sound Bridge ) and the Internal Service Funds amounted to $55 ,446 , 544 which represents an increase of approximately 3 . 9 million dollars over the previous fiscal year . The largest source of revenue this year in the Proprietary Funds Types was assessments amounting to approximately 4 . 9 million dollars . Total County expenditures for the past year were $53 , 099 ,803 . The largest functional cate- gory of expense was public safety at approximately 14 . 1 million dollars . General Government amounts to over 10. 9 million dollars . Physical Environment exceeded 6 . 9 million dollars and capital outlay expenses totaled approximately 6 . 3 million . The charts on the following page shows the proportion of total revenues and expenditures attributable to the various sources and functions : MONROE COUNTY, FLORIDA TOTAL 1281 nazusT INC (4. mmcxmmwus (2. KK OffIRGOVXWOEWTAL { 4 i t (17. ) TAUB Y t (47.7X) iS i1A(/+ AiltA;i i� S SJ(tr{{F94Na'M'4U�WS {�'� {�ti t 1 U?tt( {gilfl� WiJdYg� ZY.�r x\i)y D1 +-tt�3'SMF.YIiNA (2.7S) us�, CHARM FOR MMVWM (12. (2• ) MONROE COUNTY, FLORIDA 1907 (i . (20. ) CAPITAL OMAY (11. {t (4, ) Dim 6321TICH (Oi) RUN" sxmczs (6. TRAMPORRTATION (7. ) l� PURUC SAFETY (26.7%) SCONOMIC INVIRONIUM (ffi.ftl ON (3. VI The fund balance in the General Fund began growing significantly in prior years but has now began to decline as illustrated in the following graph : MONROE COUNTY, FLORIDA 10 9 7 0 6 4 3 . '78 '79 180 It 982 183 164 185 986 187 LW To MCIL Ym vii CASH MANAGEMENT The Finance Department monitors the cash needs of the County on a weekly basis , and on July 3 , 1987 began depositing all operating funds in excess of weekly cash flow needs with the Local Governments Surplus Funds Trust Fund under the management of the Florida Department , State Board of Administration . Prior to July 3 , 1987 , excess operating funds were invested in Certificates of Deposit and U .S . Treasury Bills . During this past fiscal year the monthly average yield ranged from a high of 6 .88% in September , 1987 to a low of 6 . 10% in November , 1986 . As the following graph illustrates , the investment program State Board of Administration provides a yield rate of return that is competitive and higher than U .S . Treasury Bills : COUNTY,MONROE CASH MHUGIMINTIUTI COMPMON —87 7 6.9 6. 6.7 6.6 6.5 j;. t 6.4 6.2 6.1 {4 i 6 5.8 rt 4 5.7 5.6 5.5 5.4 5.3 0 N D J F M A M J 1 A 8 MONTHS OF THE YUR 13 N ,. V I I At September 30 , 1987 the County' s investments are as follows : Operating Funds : Local Government Surplus Funds Trust Fund $27 ,437 , 211 Interest & Sinking Funds : U . S . Government Securties 2 ,719 , 767 $30, 156 , 978 During the fiscal year the County' s interest earning amounted to 2 . 267 million dollars , which is about a 153 thousand dollar reduction when compared to fiscal year 1986 as indicated by the chart below. The following chart presents a historical perspective of the County' s investment earnings over the past 10 years . MONROE COUNTY, FLORIDA Muff nMW 2.5 2.4 - rj 2.3 2.2 2.1 2 1.9 1.8 1.7 1.4 1.3 1.2 1.1 0.9 0.8 0.7 - 0.6 - 0.5 -—7z- 0.4 - 0.3 78 '79 '80 '81 '82 '83 W '85 '66 '87 Lin TIN ism y1W IX DEBT_ADMINISTRATION During the past fiscal year , the County did not have any general obligation debt . Monroe County has maintained AAA Bond Rating as indicated by the two current revenue bond issues as follows : Bond Issue Rating Monroe County Municipal Service District , Refunding Revenue Moody' s : AAA Improvement Bonds , and Series 1985 Standard & Poor ' s AAA Monroe County Refunding Improvement Revenue Standard & Poor' s AAA Bonds , Series 1983 RISK MANAGEMENT The County' s assets are protected through the risk mana- gement program developed and managed by the Risk Management Division of the Personnel Department . Under this program worker ' s compensation is self- insured and the fund is maintained well within sound financing levels and an adequate reserve has been established . Fleet liability, General liability and other liability programs are issued through the private sector . The Risk Management Division also manages the County' s Self- Insurance Program . Under this program all County employees a well as the employees of the Constitutional Officers are pro- vided a comprehensive health care plan and term life insurance coverage . The self- insurance program has aided the County' s affectiveness in controlling health care costs . LOCAL ECONOMIC EVENTS ----- -------- ------ During the past fiscal year the County' s unemployment rate fell to 2 . 8% as of September 30 , 1987 . This is the lowest ranked of the 67 counties in the State of Florida and is signifi - cantly lower than the State rate of 5 . 6% and the National rate of 6 . 3%. Other significant economic events which transpired during the past year include : * The amount of two cent bed tax revenue generated county-wide from the Hotel /Motel industry in the fiscal year 1987 amounted to a 20% increase over the previous fiscal year. x County population increased by 2 , 052 over the previous year and the total civilian labor force increased by 10 %. The Value of Building Permits in the unincorporated areas of Monroe County reached an all -time high of $78 ,716 , 940 . The number of Occupational License Permits issued over the past year totaled 7 , 275 which represents a 8 % over the previous year. FUTURE PROSPECTS Tourism continues to be one of the leading sources of income for the County. This fact is directly related to the uni - que chain of islands that form the Florida Keys , the beautiful tropical climate and a relaxed vacation environment . The number of persons writing or calling the Florida Keys Visitors Bureau in the 1986 fiscal year is estimated to be 62 , 000 compared to 117 , 666 in the 1987 fiscal year . INDEPENDENT AUDIT Chapter 11 . 45 of the Florida Statutes requires an inde- pendent certified public accountant ' s financial audit of counties in the State . This requirement has been met for the fiscal year ending in September 30 , 1987 and the opinion of the auditors has been included in this report . XI ACKNOWLEDGEMENT This report is a product of the dedicated effort of the Finance Department of the Clerk of Circuit Court of Monroe County as Auditor and Comptroller to the Board of County Commissioners . We would like to thank the individuals who worked hard and long on the project , Charles Mansen , Eva Limbert and Diana Gene Collins . We would also like to express our appreciation and thanks to Kemp & Rosasco , CPA' S , who helped us with their com- ments and advice . Thanks also go to the County Administrator , and his staff; The Planning , Building & Zoning Department and to Barbara Avila in the Sheriff' s office for the graphic material . Without all their help and the help of the entire Board of County Commissioners , this report could not have been presented on a timely basis for the citizens of Monroe County. Sincerely, L . OLHAGE AMES C . MATTHEWS Clerk ircuit Court Finance Director and Chief Financial Officer X I I KEMP F_� ROSASCO Certified Public Accountants 1438 KENNEDY DR. #12 LUANI PLAZA * P. O. BOX 1529 KEY WEST, FL 33041-1529 WM. O. KEMP, C.P.A. (305) 294-2581 MEMBER OF AMERICAN INSTITUTE PETER L. RCSASCO, Jr., C.P.A. AND FLORIDA INSTITUTE OF MARVA E. GREEN, C.P.A. CERTIFIED PUBLIC ACCOUNTANTS Board of County Commissioners Monroe County, Florida: We have examined the general purpose financial statements of Monroe County, Florida and the combining, individual fund, and account group financial state- ments and schedules of the County as of September 30, 1987, and for the year then ended, as listed in the table of contents® Our examination was made in accordance with generally accepted auditing standards and, accordingly, included such tests of the accounting records and such other auditing proce- dures as we considered necessary in the circumstances® In our opinion, the financial statements referred to above, present fairly the -financial position of Monroe County, Florida at September 30, 1987, and the results of its operations and the changes in financial position of its proprietary fund types for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Also, in our opinion, the combining, individual fund, and account group financial statements and schedules referred to above present fairly the financial position of each of the individual funds and account groups of Monroe County, Florida at September 30, 1987 and the results of operations of such funds for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year® Our examination was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole and on the combining, individual fund, and individual account group financial statements and schedules. The introductory and statistical sections are presented for purposes of additional analysis and are not a required part of the financial statements of Monroe County, Florida referred to above. Such information has not been subjected to the auditing procedures applied in the examination of the general purpose, combining, individual fund, and individual account group financial statements, and, accordingly, we express no opinion on them. �2o& Ca Kemp & Rosasco Certified Public Accountants March 3, 1988 KEMP 1& ROSASCO Certified Public Accountants 1438 KENNEDY DR. #12 LUANI PLAZA o P. O. BOX 1529 KEY WEST, FL 33041-1529 WM. O. KEMP, C.P.A. (305) 294-2581 MEMBER OF AMERICAN INSTITUTE PETER L. RCSASCO, Jr., C.P.A. AND FLORIDA INSTITUTE OF MARVA E. GREEN, C.P.A. CERTIFIED PUBLIC ACCOUNTANTS Board of County Commissioners Monroe County, Florida We have examined the general purpose financial statements of Monroe County, Florida, for the year ended September 30, 1987 and have issued our report thereon dated March 3, 1988. Our examination was made in accordance with generally accepted auditing standards and the standards for financial and compliance audits contained in the the 'Standards for Audit of Governmental Organization, Programs, Activities, and Functions, issued by the U.S. General Accounting Office and, accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. The management of Monroe County, Florida, is responsible for the County' s compliance with laws and regulations. In connection with our examination referred to above, we selected and tested transactions and records to determine the County' s compliance with laws and regulations noncompliance with which could have a material effect on the general purpose financial statements of the County. The results of our tests indicate that for the items tested Monroe County, Florida, complied with those provisions of laws and regulations noncompliance with which could have a material effect on the general purpose financial state- ments. Nothing came to attention that caused us to believe that for the items not tested Monroe County, Florida was not in compliance with laws and regulations noncompliance with which could not have a material effect on the County' s general purpose financial statements. Kemp & Rosasco Certified Public Accountants March 3, 1988 —2— KEMP �d ROSASCO Certified Public Accountants 1438 KENNEDY DR. #12 LUANI PLAZA e P. 0. BOX 1529 KEY WEST, FL 33041-1529 WM. 0. KEMP, C.P.A. (305) 294-2581 MEMBER OF AMERICAN INSTITUTE PETER L. ROSASCO, Jr., C.P.A. AND FLORIDA INSTITUTE OF MARVA E. GREEN, C.P.A. CERTIFIED PUBLIC ACCOUNTANTS Board of County Commissioners Monroe County, Florida We have examined the financial statements of Monroe County, Florida for the year ended September 30, 1987, and have issued our report thereon dated March 3, 1988. As part of our examination, we made a study and evalu- ation of the system of internal accounting control of Monroe County, Florida, to the extent we considered necessary to evaluate the system as required by generally accepted auditing standards and the standards for financial compli- ance audits contained in the U.S. General Accounting Office Standards for Audit of Governmentand Functions® For the purpose of this report, we have classified the significant internal accounting controls in the following categories® Accounting L Cycles _ _ Revenues/receipts Expenditures/disbursements Our study included all of the control categories listed above. The purpose of our study and evaluation was to determine the nature, timing, and extent of the auditing procedures necessary for expressing an opinion on the entity's finan- cial statements. Our study and evaluation was more limited than would be necessary to express an opinion on the system of internal accounting control taken as a whole or on any of the categories of controls identified above. The management of Monroe County, Florida, is responsible for establishing and maintaining a system of internal accounting control ® In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of control procedures® The objectives of a system are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with manage- ment' s authorization and recorded properly to permit the preparation of finan- cial statements in accordance with generally accepted accounting principles® Because of inherent limitations in any system of internal accounting control , errors or irregularities may nevertheless occur and not be detected® Also, projection of any evaluation of the system to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the degree of compliance with the procedures may deteriorate® Our study and evaluation made for the limited purpose described in the first paragraph would not necessarily disclose all material weaknesses in the system. Accordingly, we do not express an opinion on the system of internal accounting control of Monroe County, Florida taken as a whole or on any of the categories of controls identified in the first paragraph. However, our study and evaluation disclosed no condition that we believe to be a material weakness. This report is intended solely for the use of management and should not be used for any other purpose. This restriction is not intended to limit the distri- bution of this report which, upon acceptance by Monroe County, Florida, is a matter of public record. Kemp & Rosasco Certified Public Accountants March 3, 1988 —4— GENERAL FUND, The general fund is the general operating fund of the County® It is used to account for all financial resources except for those required to be accounted for in another fund. The general fund has a greater number and variety of revenue sources than any other fund, and its resources finance a wider range of activates® The resources of the general fund are ordinarily largely expended and replenished on a annual basis. SPECIAL REVENUE FUNDS The special revenue funds are used to account for the proceeds of specific revenue sources that are restricted by law or administrative action for specific purposes. DEBT SERVICE FIJNDS The debt service funds are used to account fort paymnt of principal, interest and expenditures on long-term debts, other than debt payable from the operations of enterprise funds. CAPITAL PROJECTS FUNDS The capital project funds are used to account for financial resources segregated for the acquisition or construction of major capital facilities other than thosefinanced by enterprise operations. ENTERPRISE FUNDS The enterprise funds are used to account for operations that are financed and operated in a manner similar to private business enterprises - where the intent is that the costs (expenses, including depreciation) of providing goods or services to the general public on a continuing basis be financed primarily through user charges, or where periodic determination of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, public policy, management control , accountability or other purposes. INTERNAL SERVICE FUNDS The internal service funds are used to account for the financing of goods or services provided by one department or agency to other departments or agencies oft County, or to other governments, on a cost®rei mbursEwnt basis® FIDUCIARY FUNDS Te-Trust -and Agency funds are used to account for the assets held by the County as Trustee or agent ford ividuals, private organizations and other governments. GENERAL FIXED ASSETS The general fixed assets account group is used to account for those assets used in performance of general governmental functions and exclude the fixed assets of proprietary funds. GENERAL LONG-TERM DEBT The general long-term debt account group is used to account for the County's liability for special revenue bonds and other general long-term obligations, which are not obligations of the enterprise funds. MONROE COUNTY, FLORIDA COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS SEPTEMBER 30 , 1987 GOVERNMENTAL FUND TYPES ---------------------------------------------------- Special Debt Capital General Revenue Service Projects --------- --------- ------------- ------------ ASSETS CASH AND INVESTMENTS (NOTE 2) $ 9,956,061 $ 14,486,220 $ 748,260 $ 1 ,871 ,053 CASH ►,JITH FISCAL AGENT -- -- 534,247 -- RECEIVABLES: (NOTE 3) DELINQUENT TAXES 10,962 27,213 -- -- ALLOWANCE FOR UNCOLLECTIBLE TAXES (548) 0 ,357) -- -- DELINQUENT WASTE COLLECTION FEES -- -- -- -- ALLOWANCE FOR UNCOLLECTIBLE WASTE COLLECTION FEES -- -- -- -- ACCOUNTS 25,220 571 -- -- DUE FROM OTHER FUNDS (NOTE 4) 246,656 19,206 -- 97,709 DUE FROM OTHER GOVERNMENTAL UNITS 1 ,168,902 1 ,575,338 -- -- INVENTOR`( -- -- -- -- RESTRICTED ASSETS: (NOTE 5) CASH -- -- -- -- INVESTMENTS AT COST OR AMORTIZED COST -- -- -_ _- ACCRUED INTEREST RECEIVABLE -- -- -- -- PROPERTY, NET OF ACCUMULATED DEPRECIATION (NOTE 7) -- -- -- -- UNAMORTIZED DEBT EXPENSE -- -- -- -- AMOUNT AVAILABLE FOR DEBT SERVICE -- -- -- -- AMOUNT TO BE PROVIDED FOR RETIREMENT OF GENERAL LONG-TERM DEBT -- -- -- -- ------------ ------------ ------------- ------------ TOTAL ASSETS $ 11 ,407,253 $ 16, 107,191 $ 1 ,282,507 $ 1 ,969,562 ------------ ------------ ------------- ------------ -5- FIDUCIARY PROPRIETARY FUND TYPES FUND TYPE ACCOUNT GROUPS TOTAL L __________________________ ____________ -------------------------- _-__-_______ General General Memorandum Internal Trust Fixed Long-Terms Only Enterprise Service & Agency Assets data ____________ _____________ _____________ _________ --------- -____--_d.___ 5,590 ,617 855,443 2,694,787 . __ -- . 36,203,241 2,325,552 __ -- __ -- 2,859,79� 38,175 (1 ,905) 1 ,207,410 -- __ __ _- 1 ,207,410 (662,715) _- -- -_ -- 662,715m 68,867 375,103 1 ,256 -- -- 489,017 363,571 151 ,388 -_ ®® __ -- 2,895,628 3,676 -- -- 3,676 40 ,919 _- -_ __ _® 40,919 2,489,267 2,489,267 12,233 1 ,233 8,044,3 5 15,752 39,975,257 -- 46,035,364 400,129 _- __ ®- -- 400,129 748,260 748,260 2,451 ,01 2,451 ,021 ____________ _____________ ____________ ____________ _____________ ____________ . 19,66 ,022 . 1 ,246,28 2,717,719 39, 75,257 . 3,199,281 97,573,090 (Continued) The notes to the financial_ statements are an integral part of these statements -6- MONROE COUNTY, FLORIDA COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS SEPTEMBER 30, 1987 GOVERNMENTAL FUND TYPES ---------------------------------------------------- Special Debt Capital General Revenue Service Projects _________ _________ _____________ ____________ LIABlLlTIES AND FOND EQUITY --------------------------- LIABILITIES: ACCOUNTS PAYABLE $ 789`600 $ 542`288 t -- $ 3,805 CONTRACTS PAYABLE -- 216,472 -- 223`142 CLAIMS PAYABLE -- -- -- -- DUE TO INDIVIDUALS -- -- -- -- ACCRUED LIABILITIES 326,695 156,187 --DEPOSITS HELD HELD IN ESCROW 34,299 11 ,577 -- 400 PAYABLE FROM RESTRICTED ASSETS: CONTRACTS PAYABLE -- -- -- -- ACCRUED INTEREST -- -- -- -- REVENUE BONDS, NET OF DISCOUNT (NOTES 8 & 9) -- -- -- -- DUE TO OTHER GOVERNMENTS 1 ,317,747 -- -- -- DUE TO OTHER FUNDS (NOTE 4) 133,697 146,455 -- -- DEFERRED REVENUES 12`487 259,448 -- -- MATURED BONDS PAYABLE -- -- 127,058 -- MATURED INTEREST PAYABLE -- -- 391 `397 -- MATURED PREMIUM PAYABLE -- -- 15,800 -- NOTES PAYABLE (NOTE 20) -- 57`560 -- 62`000 LONG-TERM DEBT (NOTES 8 & 18) -- -- -- -- OTHER LIABILITIES 27,798 4,908 -- -- ____________ ------------____________ _____________ ____________ TOTAL LIABILITIES 2,642`315 1 ,394,815 534`247 289,347 ____________ ____________ _____________ ____________ FUND EQUITY: CONTRIBUTED CAPITAL (NOTE 11) -- -- --INVESTMENT IN lN GENERAL FIXED ASSETS -- -- -- -- RETAINED EARNINGS: RESERVED FOR OPERATIONS -- -- -- -- RESERVED FOR BOND RETIREMENT (NOTE 6) -- -- -- -- UNRESERVED (NOTE 12) -- -- -- -- FUND BALANCES: RESERVED FOR ENCUMBRANCES 22'062 70 ,131 -- 620 UNRESERVED (NOTE 12) 8,730,071 14`642`245 748,260 1 ,679,595 RESERVED FOR TRUST FUND PURPOSES -- -- -- -- RESERVED FOR LIBRARY, CHILDREN'S ROOM 12`805 -- -- -- ____________ ------------____________ _____________ ____________ TOTAL FUND EQUITY 8,764,938 14,7129376 748`260 1 /680 ,215 ____________ ------------ _____________ ------------ TOTAL LIABILITIES AND FUND EQUITY $ 11 ,407,253 $ 16,107,191 $ 1 ,282,507 $ 1 ,969,562 ============ ============ ============= ============ -7- FIDUCIARY PROPRIETARY FUND TYPES FUND TYPE ACCOUNT GROUPS TOTAL --------------------------- ------------ -------------------------- ____-_-_____ General General Memorandum Internal Trust Fixed Lorca-Tern Only Enterprise Service Agency Assets Debt ____________ _____________ _____________ _________ --------- ___-________ 636,276 . 31 ,370 -_ _- -- 2,003,259 78,917 -- - -- 518,531 -- 898,251 ®_ __ __ 898,251 1 ,297,451 __ ®_ 1 ,297,451 159,316 5,370 __ _- _ 647,568 50 __ __ __ _ 46,326 185,758 -W -- -- -- 185,758 306,052 306,052 9,021 ,548 -_ ®_ ®® _- 9,021 ,548 __ -- 1 ,411 ,70 2,729,477 74,744 8,675 363,571 234 272,169 755,000 -- __ -_ 882,050 1 ,55 ,415 -- __ W- 1 ,947,812 14,138 29,938 119,50 3,199,281 3,199,281 14 . 2,378 __ __ __ 35,090 12,788,228 946,278 2,709,181 - 3,199,281 24,503, 92 2,808,410 2,808,410 39,975,257 39,97 ,257 20 ,211 -- __ __ -_ 20 ,211 2,050 ,609 2,050 ,609 2,000 ,564 300,020 -_ __ -_ 2,30,584 92,813 25,800 ,171 8,58 -® _- 8,538 12,805 ------------ ------------- ____________ ------------ ------------- ®__-_._______ 6,879,794 300 ,020 8,538 39,97 ,257 ®m 7 ,069, 98 ____________ _____________ ____________ ____________ __®__________ _-_-_-____-- 19,6a8,022 . 1 ,246,298 . 2,717,719 39,975,257 3,199,281 . 97,573,090 The notes to the financial statements are an integral part of these statements. -8- MONROE COUNTY, FLORIDA COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUNDS SEPTEMBER 30, 1987 GOVERNMENTAL FUND TYPES ---------------------------------------------------- General Special Debt Capital Revenue Service Projects --------- --------- ------------- ------------ REVENUES TAXES $ 5,762,612 $ 19,876,864 $ 167 $ -- LICENSES & PERMITS 170 ,445 1 ,346,216 -- INTERGOVERNMENTAL REVENUES 6,663,266 2,615,282 223,250 -- CHARGES FOR SERVICES 2,539,331 109,800 -- FINES & FORFEITURES 36879 1 ,349,317 - -- INTEREST INCOME 640:798 937,078 45,575 145,981 ASSESSMENTS -- 866,653 -- -- MISCELLANEOUS REVENUES 219,501 39,337 56 305,895 ------------ ------------ ------------- ------------ TOTAL REVENUES 16,032,832 27,140,547 . 269,048 451 ,876 ------------ ------------ ------------- ------------ EXPENDITURES ------------ GENERAL GOVERNMENT 9,349,383 1 ,590 ,789 -- -- PUBLIC SAFETY 10 ,927,921 3,176,240 -- -- PHYSICAL ENVIRONMENT 210,678 -- -- -- TRANSPORTATION 552,058 2,951 ,371 -- -- ECONOMIC ENVIRONMENT 217,375 2,689,329 -- -- HUMAN SERVICES 2,994,718 558,184 -- -- CULTURE AND RECREATION 1 ,191 ,593 396,096 -- -- DEBT SERVICE COST -- -- 209,377 26,090 CAPITAL OUTLAY 2,251 ,369 688,859 -- 3,316,273 ------------ ------------ ------------- ------------ TOTAL E: PENDITURES 27,695,095 12,050,868 209,377 3,344,363 ------------ ------------ -------- ---- ------------ EXCESS OF REVENUES OVER. (UNDER) EXPENDITURES ( 11 ,662,263) 15,089,679 59,671 (2,892,487) ------------ ------------ ------------- ------------ OTHER FINANCING SOURCES (USES) ------------------------------ TRANSFERS FROM OTHER FUNDS (NOTE 16) 12,524,533 44,357 -- 1 ,855,841 TRANSFERS TO OTHER FUNDS (NOTE 16) (1 ,732,464) (12,684,784) (7,483) -- CAPITAL LEASE ACQUISITION 208,932 -- -- -- ------------ ------------ ------------- ------------ TOTAL OTHER FINANCING SOURCES/(USES) 11 ,001 ,001 (12,640,427) (7,463) 1 ,855,841 ------------ ------------ ------------- ------------ E)(CESS OF REVENUES AND OTHER SOURCES OVER/(UNDER) EXPENDITURES & OTHER USES (661 ,262) 2,449,252 52, 188 ( 1 ,036,646) FUND BALANCE, OCTOBER 1 , 1986 9,426,200 12,263,124 696,072 2,716,861 ------------ ------------ ------------- ------------ FUND BALANCE, SEPTEMBER 30 , 1987 $ 8,764,938 $ 14,712,376 $ 748,260 $ 1 ,680,215 -9- FIDUCIARY FUND TYPE TOTAL ------------ ------------- E;pendadl e Memorandum Trust Only ------------ ------------- -- 25,639,643 -- 1 ,516,661 9,501 ,798 -m 2,64 ,131 _® 1 ,386,196 -- 1 ,769,432 -- 866,653 75,239 640 ,028 ------------ ------------- 75,239 43,969,542 ------------ ---- --_..---- -- 10 , 40 ,172 73,409 14,177,570 -- 210,678 ._... 3,503;42 ®- 2,906,704 _- 3,552,902 -- 1 ,587,68 235,467 6,258,501 73,409 43,373, 112 ---------- ------------- 1 ,830 596,430 ------------ ------------- -- 14,424,731 -- e14,424,731 ? -- 208,932 ------------ ------------- 208,932 ------------ ------------- 1 ,830 805,362 6,708 25, 108,965 8,538 ° 25,914,327 The notes to the financial statements are an integral part to these statements® -10- M8NR8E COUNTY, FLORIDA COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - GENERAL` SPECIAL REVENUE, DEBT SERVICE AND CAPITAL PROJECT FUNDS SEPTBM8ER 30 , 1987 GENERAL FUND TYPES --------------------------------------- Variance Favorable Budget Actual (Unfavorable) ------------ ------------ ------------- REVENUES TAXES 5`898,933 $ 5,762`612 $ ( 136r321 ) LICENSES & PERMITS 1555926 170,445 14,519 INTERGOVERNMENTAL REVENUES 6`716,922 6,663,266 (53,656) CHARGES FOR SERVICES 2/303,417 2/539,331 235,914 FINES & FORFEITURES 305000 36,879 6,879 INTEREST INCOME 409,523 640,798 231 ,275 ASSESSMENTS -- -- -- MISCELLANEOUS REVENUES 177,911 219`501 41 ,590 ____________ ____________ _____________ T8TAL REVENUES 15:692,632 16`032'832 340 `200 ____________ ---------___ _____________ EXPENDITURES ------------ GENERAL GOVERNMENT 10 ,059`653 9/349,383 710 ,270 PUBLIC SAFETY 11 .452`762 101927`921 524,841 PHYSICAL ENVIRONMENT 216`826 210,678 6, 148 TRANSPORTATION 810 ,136 552`058 258,078 ECONOMIC ENVIRONMENT 272`359 217,375 54,984 HUMAN SERVICES 3,962,368 2/994,718 967,642 CULTURE AND RECREATION 1 /3209738 1 ,1915593 129, 145 DEBT SERVICE COST -- -- -- CAPITAL OUTLAY 2/223,078 2,2515369 (28/299) ____________ ____________ _____________ TOTAL EXPENDITURES 305317`904 279695/095 2,622,809 ____________ ____________ _____________ EXCESS OF REVENUES OVER/ (UNDER) EXPENDITURES ( 14,625,272) (11 ,662,263) 2,963,009 ____________ ____________ _____________ OTHER FINANCING SOURCES (USES) ------------------------------ RESERVE FOR CONTINGENCIES ( 126,395) -- 126`395 TRANSFERS FROM OTHER FUNDS 12,9929209 12,524,533 (467`676) TRANSFERS TO OTHER FUNDS ( 1 ,732,464) (1 /732`464) -- CAPITAL LEASE ACQUISITION 20R,932 208`932 PROCEEDS FROM FRQM TAX ANTICIPATION NOTE -- -- ------------ ____________ _____________ TOTAL OTHER FINANCING SOURCES/(USES) 11 ,342,282 11 »001 ,801 (341 ,281 ) ____________ ____________ _____________ EXCESS OF REVENUES AND OTHER SOURCES OVER/(UNDER) EXPENDITURES & OTHER USES (3,282,990) (661 `262) 2,621 ,728 FUND BALANCE, OCTQBER 1 , 1986 9,426,200 9/426,280 -- ------------ ____________ _____________ FUND BALANCE, SEPTEMBER 30 , 1987 $ 6, 143,21O $ 8,764`938 $ 2,621 ,728 -II- SPECIAL REVENUE FUND TYPES DEBT SERVICE FUND TYPES Var°i nce Variance Favorable Favorable Budget actual (Unfavorable) BudQ t Actual (Un4avor bl ) ------------ ------------ ------------- ------------ ------------ ------------- . 20 ,435,969 . 19,876,864 (559,105) 243 ° 167 ° (76) 531 ,261 1 ,346,216 464,955 -- -- _® 3,2 7 ,664 2,61 ,282 (592,382) 223,250 223,250 55,537 109,800 24,213 -- --- _- 911 ,000 1 ,349,317 438,317 _- -- 346,861 937,078 590 ,217 41 ,053 45,575 4,522 25,500 866,653 838,15-0 -- -- 6, 00 39,337 32,837 -- 56 5 ------------ ____________ ------------- ------------ ------------- -------_----_ 25,903,3 2 27, 140 ,547 1 .,237,205 264,546 269,048 4,502 ------------ ------------ -------------- ------------ ------------ _----_-_---__ 2,396,863 1 ,590 ,789 806,074 -- -- _- 4,581 ,900 3, 176,240 1 ,405,660 -- -- 6,862,130 259 1 ,371 3,910 ,759 4,077,365 2,689,329 1 ,388,536 558, 184 558,484 -- 93Y°,758 396,096 543,662 -- -- -- _- __ 211 ,129 209,377 1 ,752 1 ,154,05" 688,359 465, 193 20 ,570,752 12,050,868 8,519,884 211 ,129 209,377 1 ,752 ®_-_..._-..---- ------------ ------------- --------- ------------ --_..,_.-. -----_ 5,3340,890 15,089,679 9,757,089 53,417 59,671 61,254 ------------ ------------ ------------- ------------ ------------- __---------..®_ (809 166) -- 867,166 (719,799) -- 719,799 70 ,329 445357 (25,972) __ _- _- (13,173,430) ( 12,684,734) 493,646 (7,483) (7,483) 1643993 -- (164,993) ------------ ------------ ------------- ------------ ------------ ---_-___----- ( 13,510 ,274) ( 12,640 ,427) 1 , 169,847 r72279282) :7,483> 719,799 -------------- ------------ ------------- ------------ ------------ _-_----__-_-- (8,477,684) 2,449,252 10 ,926,936 (673,865) 52,153 726,053 12,263,124 12,263, 124 -- 696,072 696,072 -- ------------ -------------- ------------- ._---__------ ------------ ------------- $ 3,785,440 14,712,376 . 10 ,926,936 . 22,207 . 748,260 • 726,053 C€�ntinuedl The notes to the financial statements are an integral part of these s atementsn -12- MONROE COUNTY, FLORIDA COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - GENERAL, SPECIAL REVENUE, DEBT SERVICE AND CAPITAL PROJECT FUNDS - CONTINUED SEPTEMBER 30 , 1987 CAPITAL PROJECT FUND TYPES --------------------------------------- Variance Favorable Budget actual (Un4av orabl ) ------------ ------------ ------------- REVENUES LICENSES & PERMITS INTERGOVERNMENTAL REVENUESCHARGES FOR SERVICES -- -- -- FINES {'c FORFEITURES -_ __ -- INTEREST INCOME 80 ,260 145,981 65,721 ASSESSMENTS -_ __ -- MISC:ELLANEOU5 REVENUES 305,373 305,095 522 ------------ ------------ ------------- TOTAL REVENUES 385,633 451 ,876 66,243 E:` PENDITURES ------------ GENERAL GOVERNMENT -- PUBLIC SAFETY -- -- -- PHYSICAL EC•VIRONMENT -- --TRANSPORTATION -- ECONOMIC ENVIRONMENT HUMAN SERVICES ®- CULTURE AND RECREATION -- -- -- DEBT SERVICE COST 38,534 26,090 12,444 CAPITAL OUTLAY 4,179,501 3,318,273 861 ,228 ____________ ____________ _____________ TOTAL EXPENDITURES 4,218,035 3,344,3 3 573,E+72 E<;CESSa OF REVENUES OVER (UNDER) EXPENDITURES Q832,402) (2,892,487) 939,915 ------------ ____________ _____________ OTHER FINANCING SOURCES (USES) ------------------------------ RESERVE FOR CONTINGENCIES (736,286) -- 736,28 TRANSFERS FROM OTHER FUNDS 1 ,555,841 1 ,855,841 -- TRANSFERS TO OTHER FUNDS -_ _- _® CAPITAL LEASE ACQUISITION ®- PROCEEDS FROM TAX ANTICIPATION NOTE -- -®------------ ____________ _____________ TOTAL OTHER FlNANCING SOURCES.°{LASES) 1 ,119,555 1 ,855,841 736,28 ____________ ____________ _____________ EXCESS OF REVENUES AND OTHER SOURCES OVER&UNDER) EXPENDITURES & OTHER USES (2,712,047) ( 1 ,03 ,646) 1 ,676,201 FUND BALANCE, OCTOBER 1 , 1986 2,7165 61 2,716,861 --- ------------ ------------ ------------- FUND BALANCE, SEPTEMBER 30 , 1957 4,014 ° 1 ,580 ,215 1 ,676,201 -13- TOTAL - MEMORANDUM ONLY ~� --------------------------------------- Variance Favorable -~ Budget Actual (Unfavorable) ____________ ____________ _____________ ~� $ 26/335, 145 $ 25,839,643 $ (695,502) 2 ,037,187 1 ,516,661 479,474 10 / 147,836 9,501 ,798 (646,038) ~- 2,389,004 2,649` 131 260x127 941 ,000 1 ,386, 196 445, 196 877,697 1 `769`432 891 ,735 0/500 866j653 838, 153 489,784 564`789 75,805 ------------ ____________ _____-_______ ` 42,246, 153 43,894,303 1r648, 150 ____________ ____________ _____________ -- 12,456,516 10 `940 ,172 1 ,516`344 ~ 16,034`662 14`104, 161 1 ,930 ,501 216,826 218 `678 6,148 7,672,266 3,583,429 4`168`837 45350 ,224 2`906,704 1 ,443,520 4,520 /544 3,552p902 967,642 2r26O ,496 1 ,587,689 672,807 -- 249`663 235,467 14,196 7,556,623 6,258,501 1 ,298, 122 ____________ ____________ _____________ -` 55,317,820 43,299,703 12`018, 117 ____________ ____________ _____________ ( 13°O71 ,667) 594,600 13,668,267 ------------ ------------ ------------- -� (2,449,646) -- 2,449,646 14`918,379 14,424,731 (493,648) ( 14,9185377) (14,424,731 ) 493,646 208/932 208,932 -- 164`993 -- (164,993) ____________ ------------ _-___________ -` (3,O75,719) 208,932 2,284,651 ____________ ____________ _____________ _ ' (15,147,386) 803,532 15`950 ,910 25/ 102/257 25,102/257 -- -7 ____________ ____________ _____________ ' | $ 91954,871 $ 25,9855789 $ 15,950 '918 The notes to the financial statements are an integral part of these statements. / -14- MQNROE COUNTY, FLORIDA COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS ALL PROPRIETARY FUND TYPES SEPTEMBER 30 / 1987 Enterprise Internal Total Service (Memorandum Only) ____________ ____________ ____________ OPERATIMG REVENUES ------------------ TOLLS $ 881 ,439 $ -- $ 801 ,439 CHARGES FOR SERVICES 786,556 2`672,728 3`459,284 FRANCHISE FEES 648`468 -- 648,468 ASSESSMENTS 4,976,789 -- 4/976,789 MISCELLANEOUS 1 ,583 -- 1 ,583 ____________ ____________ ____________ TOTAL OPERATING REVENUE 7,214`835 2`672,728 9,887,563 ------------ ------------ ------------ OPERATING EXPENSES ------------------- PERSONAL SERVICES 1 `832,071 88`311 1 ,920 ,382 PROFESSIONAL SERVICES 2,685,646 819419 2,767,065 DEPRECIATION EXPENSE 906,003 531 986,534 REPAIRS AND MAINTENANCE 632,146 -- 632,146 ASSERTED AND PAID CLAIMS -- 2,205,559 2,205,559 OTHER OPERATING EXPENSES 474`158 17`753 491 `911 ____________ ____________ ____________ TOTAL OPERATING EXPENSES 6`530 ,024 2/3931573 8,923,597 ____________ ____________ ____________ OPERATIN8 INCOME OR (LOSS) 684,811 279, 155 963,966 NON-OPERATING REVENUES (EXPENSES) --------------------------------- TAXES 800 ,474 -- 800 ,474 OPERATING GRANTS 291 ,284 -- 291 ,284 INTEREST INCOME 476,816 20 ,865 497,681 INTEREST EXPENSES AMD FISCAL CHARGES (803,094) -- (803,894) ____________ ____________ ____________ TOTAL NON-OPERATING REVENUES (EXPBNSES) 765,480 20 `865 786,345 ____________ ____________ ------------ NET INCOME (LOSS) 1 ,450 ,291 380 ,020 1 ,750 `311 RETAINED EARNINGS - OCTOBER 1 , 1986 5,429,503 -- 5/429`503 ____________ ____________ ____________ RETAINED EARNINGS - SEPTEMBER 30 ` 1987 $ 6,879/794 $ 300 ,828 $ 7` 179,814 ============ ============ ============ The notes to the financial statements are an integral part of these statements. -15- MON ROE COUNTY, FLORIDA COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION ALL PROPRIETARY FUNDS SEPTEMBER 30, 1987 Enterprise Internal Total Service (Memorandum Only) SOURCES OF WORKING CAPITAL: OPERATIONS NET INCOME (LOSS) $ 1 ,450,291 $ 300,020 $ 1 ,750,311 ITEMS NOT REQUIRING WORKING CAPITAL DEPRECIATION AND DEPLETION 906,003 531 9060534 AMORTIZATION OF BOND DISCOUNTS 28,477 -- 28,477 AMORTIZATION OF CAPITAL APPRECIATION ON 1985 REFUNDING IMPROVEMENT BONDS 141 ,140 -- 141 ,140 ------ ----------- ----------- WORKING CAPITAL PROVIDED (USED) BY OPERATIONS 2,525,911 300,551 2,826,462 DECREASE (INCREASE) IN RESTRICTED ASSETS (1 ,358,554) -- (1 ,824,742) DECREASE IN WORKING CAPITAL -- (284,267) -- ----------- ----------- ----------- TOTAL SOURCES OF WORKING CAPITAL $ 1 ,167,357 $ 16,284 � 1 ,001 ,720 USES OF WORKING CAPITAL: ------------------------ DECREASE (INCREASE) IN LIABILITIES PAYABLE FROM RESTRICTED ASSETS: CURRENT PORTION OF LONG-TERM DEBT $ 150,000 $ -- $ 150,000 ACCOUNTS PAYABLE (128,398) -- (128,398) CONTRACTS PAYABLE 8,517 -- 8,517 ACCRUED INTEREST 12,304 -- 12,304 REVENUE BONDS 225,000 -- 225,000 MATURED PRINCIPAL (250,000) -- (250,000) MATURED INTEREST (620 ,143) -- (620,143) MATURED PREMIUM 4,500 -- 4,500 ----------- ----------- ----------- TOTAL DECREASE (INCREASE) IN LIABILITIES PAYABLE FROM RESTRICTED ASSETS (598,220) -- (598,220) RETIREMENT OF LONG-TERM DEBT AND PORTIONS BECOMING CURRENT 280 ,000 -- 280 ,000 INCREASE (DECREASE) IN RESTRICTED ASSETS (741 ,520) -- (741 ,520) ADDITIONS TO PROPERTY, PLANT AND EQUIPMENT 686,622 16,284 702,906 INCREASE IN WORKING CAPITAL 1 ,540 ,475 -- 1 ,540,475 TOTAL USES OF WORKING CAPITAL $ 1 ,167,357 $ 16,284 $ 1 ,183,641 The notes to the financial statements are an integral part of these statements. -16- MONROE COUNTY, FLORIDA COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION ALL PROPRIETARY FUNDS - CONTINUED SEPT EMBER 30, 1987 Enterprise Internal Total Service (Memorandum Only) ----------- ----------- ----------- INCREASE (DECREASE) IN COMPONENTS OF WORKING CAPITAL: --------------------------------- CASH & INVESTMENTS $ 1 ,457,706 $ 266,085 $ 1 ,723,791 DUE FROM OTHER GOVERNMENTS 143,526 -- 143,526 ACCOUNTS RECEIVABLE 65,998 220 ,078 286,076 ACCOUNTS PAYABLE (422,551 ) (198,442) (620,993) OTHER CURRENT LIABILITIES 295,796 (3,454) 292,342 ----------- ----------- -----------INCREASE (DECREASE) IN WORKING CAPITAL $ 1 ,540 ,475 $ $ 1 ,824,742 The notes to the financial statements are an integral part of these statements. -17- MONROE COUNTY, FLORIDA NOTES TO COMBINED FINANCIAL STATEMENTS SEPTEMBER 30, 1987 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting policies and the presentation of the financial report of Monroe County, Florida have been designed to conform to generally accepted accounting principles as applicable to governmental units, in accordance with the Governmental Accounting Standards Board (GASB). GASB embodies the official pronouncements previously issued by the National Council on Governmental Accounting (NC A). The following is a summary of the signif- icant accounting policies. Btpqrting�Ent�it - Monroe County is a Non-Charter County established under the Constitution and the laws of the State of Florida. There are six offices elected County-wide, which are as follows: Board of County Commissioners, composed of five members, Clerk of Circuit Court, Property Appraiser, Sheriff, Supervisor of Elections and Tax Collector. The Board of County Commissioners is the legislative body for Monroe County and as such budgets and provides all the funding used by the separate Constitutional Offices with the exception of fees collected by the Clerk of Circuit Court and the Tax Collector. Under the direction of the Clerk of Circuit Court, the Monroe County Finance Department maintains the accounting system for the County' s operations, including those of the Supervisor of Elections and Clerk of Circuit Court, which are included in the General fund, but excluding those of the Property Appraiser, Sheriff and Tax Collector, each of which maintains its own accounting system. The operations of the County as a whole, however, including all the Constitutional Offices, have been combined in these financial statements® For financial reporting purposes, the County includes all funds and account groups of governmental operations that are controlled by or depend- ent upon the County, as determined on the basis of budgetary oversight, taxing authority, the County' s obligation to fund any deficits that may occur or other generally accepted manifestations of oversight. Services provided by the County and accounted for within these financial statements include police services for unincorporated areas of the County, health and social services, emergency medical services, cultural and recreational programs, solid waste services and other governmental services. Basis of Presentation - The accounts of the County are organized on the basis of funds and account groups, each of which is considered a separate accounting entity. Fund structures, where applicable, have been designed to comply with all requirements of the bond resolutions. 'The operations of each fund are accounted for with a set of separate self-balancing accounts comprised of its assets, liabilities, equities, revenues and —18— MONROE COUNTY, FLORIDA NOTES TO COMBINED FINANCIAL STATEMENTS SEPTEMBER 30, 1987 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) expenditures, or expenses, as appropriate. The various funds are grouped by type in the financial statements. The following fund types and account groups are used by the County: Governmental Fund Types: General Fund - The General fund is the general operating fund of the County. All general tax revenues and other receipts that are not required either legally or by generally accepted accounting principles to be accounted for in other funds are accounted for in the General Fund. General operating funds of the Property Appraiser, Sheriff and Tax Collector represent subfunds of the County' s General Fund that are held and accounted for individually, but presented herein with the balance of the Board of County Commissioners' operating funds. Special Service Funds - Special Revenue Funds are used to account for the proceeds of specific revenue sources (other than those associated with expendable trusts or major capital projects) requiring separate accounting because of legal or regulatory provisions or administrative action. Debt Service Funds - Debt Service Funds are used to account for the payment of principal , interest and other expenditures related to long- term debt, other than bonds and loans payable from the operations of Enterprise Funds. Capital Project Funds - Capital Project Funds are used to account for financial resources segregated for the acquisition or construction of major capital facilities other than those financed by enterprise operations. Proprietary Fund Types: Enterprise Funds - Enterprise Funds are used to account for operations that are financed and operated in a manner similar to private business enterprises - where the stated intent is that the cost (expenses, including depreciation) of providing goods or services to the general public on a continuing basis be financed primarily through user charges or where periodic determination of revenues earned, expenses incurred, and/or net income is deemed appropriate for capital maintenance, public policy, management control , accountability or other purposes. —19— MONROE COUNTY, FLORIDA NOTES TO COMBINED FINANCIAL STATEMENTS SEPTEMBER 30, 1987 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Internal Service Funds - Internal Service Funds are used to account for the�financing of goods or services provided by one department to other departments of the County or to other government units on a cost reim- bursement basis. Fiduciary Fund Types: Expendable Trust Funds - Expendable Trust Funds are generally used in instances where legally mandated or where a formal legal trustee rela- tionship exists. Both principal and income may be expended in the course of their designated operations. AQencV Funds - Agency Funds are custodial in nature (assets equal liabil- ities T and do not involve measurement of results of operations. Agency Funds are merely clearing accounts for assets held by a government as an agent for individuals, private organizations, other governments or other funds. Account Groups: General Fixed Assets Account Gr2,u2 - This account is established to account for all fixed assets of the County, other than those accounted for in the Enterprise and Internal Service Funds. General Lon -Term Debt Account Gro_uR - This account group is established to account for the long-term debt of the County financed from governmental funds. Basis of Accounting - Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made regardless of the measurement focus applied. The modified accrual basis of accounting is followed in the Governmental Fund Types and Expendable Trust and Agency Fund. Under the modified accrual basis of accounting, revenues are recognized in the accounting period in which they become both measurable and available to finance expenditures of the current period. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Expenditures are recorded when the related fund liability is incurred. Exceptions to this general rule include: (1) accumulated overtime pay and accumulated vacation pay, which are not recorded as expenditures; (2) prepaid items, which are reported only on the Balance Sheet and do not affect expenditures; and (3) principal and interest on general long-term debt, which are recognized when due. Budgets for Governmental Funds are also prepared on the modified accrual basis. _20— MONROE COUNTY, FLORIDA NOTES TO COMBINED FINANCIAL STATEMENTS SEPTEMBER 30, 1987 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) In applying the susceptibility-to-accrual concept to intergovernmental revenues, the legal and contractual requirements of the numerous individ- ual programs are used as guidance. There are, however, essentially two types of these revenues. In one, monies must be expended on the specific purpose or project before any amounts will be paid to the County; therefore, revenues are recognized based upon the expenditures recorded. In the other, monies are virtually unrestricted as to purpose of expend- iture and substantially irrevocable; i .e. , revocable only for failure to comply with prescribed compliance requirements, such as with equal employ- ment opportunity. These resources are reflected as revenues at the time of receipt or earlier if they meet the availability criterion. Licenses and permits, charges for services, and miscellaneous revenues (except investment earnings) are recorded as revenues when received in cash, because they are generally not measurable until actually received. Investment earnings and most fines and forfeitures are recorded as earned since they are measurable and available. Proprietary Funds use the accrual basis of accounting. Revenues are recognized in the period in which they are earned and expenses are recognized in the period incurred. Budgets and Budgetary Data - The following are the statutory procedures followed by the Board of County Commissioners in establishing the budget for Monroe County. 1) On or before May l of each year, the Sheriff; the Clerk of Circuit Court; the Tax Collector, and the Supervisor of Elections shall each submit to the Board of County Commissioners, a tentative budget for their respective offices for the ensuing fiscal year. 2) Within fifteen days after certification of the ad valorem tax roll by the Property Appraiser, the County Budget officer submits to the Board a proposed budget for the fiscal year commencing the following October 1. The budget includes proposed expenditures and the means of financing them. 3) By Board resolution, a tentative budget is submitted to the public. Public hearings are held to obtain taxpayer comments. , 4) Fifteen days after adoption of the tentative budget, a final budget is submitted for review and adoption at a final public hearing. 5) Prior to, or on September 30, the County' s budget is legally enacted through passage of a resolution. Accordingly all fund types have an adopted budget as required by Florida Statute 129.03. —21— MONROE COUNTY, FLORIDA NOTES TO COMBINED FINANCIAL STATEMENTS SEPTEMBER 30, 187 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) ) During the year, the County Administrator acts on intradepartmental budget changes that do not alter the total revenue or expenditures budgeted to a cost center. All other budget changes (whether they are transfers between departments or alterations of total revenues or expen- ditures in a fund) are approved by the Board® The budgetary data re- sented herein was amended by the Board during the year in a legally permissible manner® 7) Florida Statute 129, Section 7, as amended in 1978, provides that only expenditures in excess of total fund budgets are unlawful ® The fund level is, therefore, the level of control for budgetary considerations® B) Budgeted to Actual Expenditure reports are employed as a management control device during the year for all fund types. ) Budgets for all funds are adopted on a basis consistent with generally accepted accounting principles (GAAP). 10) All appropriations lapse at year end® Investments - Investments are stated at cost, which approximates market. The Monroe County Board of County Commissioners pools cash and investments of the County, excluding those held and accounted for by the separate Constitutional Officers and those requiring or benefiting by separate investment. This gives the County the ability to maximize its yield on the short-term investment of cash, increasing its interest income accordingly. Interest earned on pooled investments is allocated to the participating funds based on their average daily balance. Individual fund deficits are ignored in the allocation of interest. General Fixed Assets - General Fixed Assets are recorded as expenditures in the General Fund, Capital Project Funds and other Governmental Fund types at the time of purchase and are capitalized at cost in the General Fixed Asset Account Group. Fixed assets consisting of certain improve- ments including road, bridges, curbs and gutters, streets and sidewalks, drainage systems and lighting systems have not been capitalized® Gifts or contributions are recorded in General Fixed Assets at fair market value at the time received® There is no depreciation expense recorded on General Fixed Assets. —22— MONROE COUNTY, FLORIDA NOTES TO COMBINED FINANCIAL STATEMENTS SEPTEMBER 30, 1987 NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Enterprise and Internal Service Fund Fixed Assets - Additions to Enterprise and Internal Service Fund Fixed Assets are stated at cost. Depreciation has been provided using the straight-line method. The esti- mated useful lives of various classes of depreciable fixed assets are as follows: Life Years Buildings and other improvements 10 20 Machinery and equipment 3 10 Sanitary landfill sites 1 10 Bridges and improvements other than buildings 50 Capital Lease Obligations - Capital lease obligations for non-Enterprise Funds are accounted for in the General Long-Term Debt Account Group. The capitalized lease obligations are stated at the original fair market value of leased assets capitalized, less payments since the inception of the lease discounted at the implicit rate of interest in the lease. Also, in the year an asset is acquired by capital lease, the expenditure for the asset and the offsetting amount of the financing source are reflected in the Statement of Revenues, Expenditures and Changes in Fund Balances. Assets acquired under capital leases in non-Enterprise Funds are accounted for in the General Fixed Asset Account Group. Capital lease obligations of Enterprise Funds and the cost of assets so acquired, are reflected in the accounts of those funds. Unamortized Debt Ex - Unamortized debt expense is amortized by using the straight-line method over the life of the debt in Enterprise Funds. Encumbrances - Encumbrance accounting, under which purchase orders are recorded to reserve that portion of the applicable appropriation, is employed in the Governmental fund types. Encumbrances are not the equiva- lent of expenditures; therefore, the encumbrances are reported as reserv- ations of fund balances at year end. Property Taxes - Property taxes, based on assessed values at January 1, become due and payable on November 1st of each year. A four percent discount is allowed if the taxes are paid in November, with the discount declining by one percent each month thereafter. Taxes become delinquent on April 1st of each year; and tax certificates for the full amount of any unpaid taxes and assessments must be sold not later than June 1st of each year. No accrual for the property tax levy becoming due in November of 1987 is included in the accompanying financial statements, since such taxes are collected to finance expenditures of the subsequent period. —23— MONROE COUNTY, FLORIDA NOTES TO COMBINED FINANCIAL STATEMENTS SEPTEMBER 30, 1987 ' NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Total Columns on Combined Statements - Overview - Total columns on the combined Statements - Overview (General Purpose Financial Statements) are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis® Data in these columns do not present financial position, results of operations or changes in financial position in conformity with generally accepted accounting principles, and such data is not comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data® NOTE 2 - CASH AND INVESTMENTS Cash and investments consist of the following at September 30, 1987: Cash and Restricted Cash Investments and Investments Total Amount invested in County' s pooled cash program $ 26,714,581 $ 722,630 $ 27,437,211 Other cash and investments 8,740,400 2,555,816 11,296,216 Total T 3-5,454,981 $ 3,278,446 $ 38,733,427 Florida Statute 125.31 authorizes the County to invest surplus funds in the following: a) the Local Government Surplus Funds Trust Fund under the management of the State Board of Administration b) negotiable direct obligations of, or obligations of which the prin- cipal and interest are unconditionally guaranteed by the U.S. Government c) interest bearing time deposits or savings accounts in banks and savings and loans organized under state laws or doing business in and situated in the state, provided collateral requirements are [net d) obligations of the Federal Home Loan Mortgage Corporation e) obligations of the Federal National Mortgage Association Deposits - At year end, the Board of County Com►nissioners had demand depo- sits of $7,026,031. Demand and time deposits are fully insured in accordance with Florida Statute 280; which established the multiple financial insti- tution collateral pool ® Investments - The Board' s investments at year end are shown below® Carrying Market Amount Value Local Government Surplus Funds Trust Fund $ 27,437,211 $ 27,437,211 U.S. Government Securities 2,719,767 2,719,767 $ 30,156,978 $ 30,156,978 -24- MONROE COUNTY, FLORIDA NOTES TO COMBINED FINANCIAL STATEMENTS SEPTEMBER 30, 1987 NOTE 2 - CASH AND INVESTMENTS (Continued) Other Constitutional Officers - Demand deposits of the Constitutional Officers at September 30, 1987 amounted to $1,550,418. These deposits are fully insured in accordance with Florida Statute 280; which established the multiple financial institution collateral pool . NOTE 3 - ACCOUNTS RECEIVABLE Accounts receivable for the General Fund and Special Revenue Funds are net of $1,905 for Delinquent Taxes which are estimated to be uncollectible. Accounts receivable for Enterprise Funds are net of an allowance of $662,715 which relates to the Municipal Service District Fund. NOTE 4 - INTERFUND BALANCES Individual fund interfund receivable and payable balances at September 30, Interfund Interfund Fund Receivable Payable General Fund $ 246,656 $ 133,697 Special Revenue Funds: Fine and Forfeiture - 29,678 Road and Bridge - 33,630 Law Library - 1,256 Fire and Ambulance District 1B 1,085 - Fire and Ambulance District 2 7,521 - Fire and Ambulance District 3 4,727 - Fire and Ambulance District 4B - 6,898 Fire and Ambulance District 5 - 1,033 Fire and Ambulance District 6 - 4,176 Fire and Ambulance District 7 2,437 - Fire and Ambulance District 1C - 1,466 Fire and Ambulance District 1 1,036 - Fire and Ambulance District 4A - 1,922 Fire and Ambulance District IA 2,400 - Translator - 6,452 Planning, Building and Zoning - 57,746 Parks and Beaches - 2,198 19,206 $ 146,455 —25— MONROE COUNTY, FLORIDA NOTES TO COMBINED FINANCIAL STATEMENTS SEPTEMBER_10, 1987 NOTE 4 - INTERFUND BALANCES (Continued) Capital Project Funds: Comprehensive Improvements 117.709 $ Enterprise Funds: Municipal Service District 71,628 Card Sound Bridge 3,116 74,744 Internal Service Funds: Workmen' s Compensation 8,022 Group Insurance 653 8,675 $ 363,571 $ 363,571 NOTE 5 - RESTRICTED ASSETS Restricted Assets include those provided for by resolution adopted by the County Commission for the issuance of the Municipal Service District Revenue Bonds® Total restricted assets as -of September 30, 1987 are as follows: Cash and Accrued Municipal Service District Investments Interest Total Debt Service Reserve Fund $ 990,803 $ - $ 990,803 Renewal and Replacement Fund 940,251 12,233 952,484 Sinking Fund 599,132 599,132 $ 2,530,186 $ 12,233 $ 2,542,419 NOTE 6 - RESERVES FOR RESTRICTED ASSETS Reserves representing the excess of amounts provided for certain restricted asset accounts over the liability payable therefrom are established by a reduction of retained earnings or fund balance. The following schedule reflects the reserve account balances at September 30, 1987: Enterprise Municipal Service District: Reserved for debt service $ 2,050,609 -26- MONROE COUNTY, FLORIDA NOTES TO COMBINED FINANCIAL STATEMENTS SEPTEMBER 30, 1987 NOTE 6 - RESERVES FOR RESTRICTED ASSETS (Continued) Retained earnings are reserved to the extent of the excess of restricted assets over liabilities payable from restricted assets as follows: Total restricted assets $ 2,542,419 Liabilities payable from restricted assets 491,810 Reserved retained earnings $ 2,050,609 NOTE 7 - PROPERTY, PLANT AND EQUIPMENT A summary of changes in General Fixed Assets follows: Balance at Balance at 10/1/86 Additions Deductions 9/30/87 Land $ 6,645,280 $ 184,320 $ 62,000 $ 6,767,600 Buildings 15,839,796 3,066,794 248,000 18,658,590 Equipment 12,203,679 2,951,167 757,554 14,397,292 Construction in Progress - 151,775 - 151,775 34,688,755 6,354,056 1,067,554 $ 39,975,257 Enterprise fund property, plant and equipment consisted of the following at September 30, 1987: Municipal Card Service Sound District Brid e Total Land 214,105 - 214,105 Buildings 8,445 4,153 12,598 Improvements 145,736 - 145,736 Equipment 10,246,599 12,478 10,259,077 Roads and Bridges - 2,512,679 2,512,679 Construction in Progress 271,845 - 271,845 Total Property Plant and Equipment 10,886,730 2,529,310 13,416,040 Less Accumulated Depreciation 4,345,879 1,025,806 5,371,685 Net Property Plant and Equipment $ 6,540,851 $ 1,503,504 $ 8,044,355 Internal service fund property, plant and equipment consisted of the following at September 30, 1987: Workmens' Group Compensation Insurance Total Equipment 13,23I 3,052 16,283 Less Accumulated Depreciation 403 128 531 Net Equipment $ 12,828 $ 2,924 $ 15,752 —27— MONROE COUNTY, FLORIDA NOTES TO COMBINED FINANCIAL STATEMENTS SEPTEMBER 30, 1987 NOTE 8 - LONG-TERM DEBT The following is a summary of changes in long-tern debt for the year ended September 30, 1987. Accrued Capitalized Enterprise Revenue Compensated Lease Revenue Bonds Absences Obligations Bonds Total Payable t - _ October 1, 1986 $2,080,000 $635,243 $335,898 $9,535,408 $12,586,59 Debt issued m 183,581 208,932 141,140* 533,653 Debt retired 25,00 d 219,373 655,000 899,373 Payable at — - - — - - September 30, 1987 $2,055,000 $818,824 $325, 57 $9,021,58 $12,220,829 * Increased value accretion on Municipal Service District, Refunding Improvement Bond, Series 1985 Capital Appreciation Bonds® Bonds payable at September 30, 1987 are composed of the following issues: Enterprise Revenue Bonds ® $9,211,774 1985 Municipal Service District Refunding Improvement Bonds due in annual installments of $280,000 to $805,000 on October 1, 1987 to October 1, 2011; interest at 5.75% to 9.01% (including Capital Appreciation Bond accreted interest of $239,774) $9,021,548 Revenue Bonds ® $2,155,000 1983 Refunding Improvement Revenue Bonds, Series 1983 due in annual Installments of $25,000 to $19 ,000 through July 1, 211 interest at 7.40% to 9.25% $2,055,000 Under the terms of the enterprise revenue bonds issue, the Municipal Service District is required, among other things, to establish rates and to collect fees and charges which will be sufficient at all times to pay the cost of maintenance and operations, principal and interest requirements of the outstanding revenue bonds and to create and main- tain specified reserves for such purposes® Debt Service Requirements - The total annual debt service requirements for all bonds outstanding at September 30, 1987, consisting of interest payments o $15,685,423 and principal payments of $10,836,774 are as follows® -28- MONROE COUNTY, FLORIDA NOTES TO COMBINED FINANCIAL STATEMENTS SEPTEMBER 30, 1987 NOTE 8 - LONG-TERM DEBT (Continued) Enterprise Year Ended Revenue Bonds Revenue Bonds September 30 Amount Interest Rate Amount Interest Rate Total 1988 $ 899,367 6.25%-9.30% $ 212,279 7.40%-9.25% $ 1,111,646 1989 895,618 6.75%-9.30% 210,059 7.40%-9.25% 1,105,677 1990 894,355 7.00%-9.30% 207,839 7.40%-9.25% 1,102,194 1991 890,905 7.20%-9.30% 210,619 7.60%-9.25% 1,101,524 1992 895,345 7.40%-9.30% 212,959 7.80%-9.25% 1,108,304 1993-1997 4,484,275 8.00%-9.30% 1,065,803 8.00%-9.25% 5,550,078 1998-2002 4,494,275 8.90%-9.30% 1,062,443 8.60%-9.25% 5,556,718 2003-2007 4,461,945 9.00%-9.30% 1,055,413 9.05%-9.25% 5,517,358 Thereafter 3,525,675 9.00%-9.30% 843,023 9.20%-9.50% 4,368,698 TOTAL $21,441,760 $5,080,437 $26,522,197 The amount available in the Debt Service Fund to service the revenue bonds is $748,260. Restrictive Covenants and Collateral Requirements - The 1983 Refunding Improvement Revenue Bonds are payable from and secured by a lien on and pledge of the racetrack funds received by Monroe County from the State of Florida. The 1985 Municipal Service District Refunding Improvement Bonds are payable solely from and secured by a prior lien upon and pledge of (i ) special assessments levied annually against residential property within the Monroe County Municipal Service District (the "District" ), Monroe County, Florida for the availability and furnishing of certain solid waste disposal services, (ii ) payments received from franchisee solid waste collectors with respect to commercial property within the District, (iii ) all other non ad valorem funds received by the District with respect to furnishing services of the solid waste facilities to the residents of the District excluding any state or federal funds received from time to time by the District and (iv) certain investment income received by the District. —29— MONROE COUNTY, FLORIDA NOTES TO COMBINED FINANCIAL STATEMENTS SEPTEMBER 30, 1987 NOTE 8 - LONG-TERM DEBT (Continued) The Bonds and the interest payable thereon will not constitute a general obligation of the District, Monroe County or the State of Florida, or a pledge of the faith and credit of the District, Monroe County, the State of Florida or any political subdivision thereof. Neither the Bonds, nor any interest or premium thereon, shall be payable from the ad valorem tax revenues of the District, Monroe County or the State of Florida. NOTE 9 - PRIOR YEAR DEFEASANCE OF DEBT In the prior year the County defeased Municipal Service District Improvement Bonds, Series 1980 by placing the proceeds of the new bonds in an irrevocable trust to provide for all future debt service payments on the old bonds. Accordingly, the trust account assets and the liability for the defeased bonds are not included in the County' s financial statements. At September 30, 1987, $7,745,000 of bonds outstanding relative to the Series 1980 issue are considered defeased® NOTE 10 - LEASE OBLIGATIONS Capitalized lease obligations consist of equipment lease-purchases accounted for in the General Long-term Debt Account Group and General Fixed Assets Account Group. The future minimum payments under capitalized lease consist on the following at September 30, 1987: General Long- Fiscal year ending September 30: Term Debt 1988 231,935 1989 95,317 1990 42,818 1991 6,214 Total minimum payments 376,284 Amounts representing interest 50,827 Present value of net minimum lease payments $ 325,457 —30— MONROE COUNTY, FLORIDA NOTES TO COMBINED FINANCIAL STATEMENTS SEPTEMBER 30, 1987 NOTE 10 - LEASE OBLIGATIONS (Continued) General Fixed Assets include the following for leased equipment which has been capitalized as of September 30, 1987: General Government $ 380,227 Public Safety 697,966 $1,078,193 Rental expense under operating leases for the current year amounted to $395,550. NOTE 11 - CONTRIBUTED CAPITAL Contributed capital consists of the following at September 30, 1987: Enterprise Funds - Contributions from Other Funds: Municipal Service District $ 2,805,649 Card Sound Bridge 2,761 $ 2,808,410 NOTE 12 - FUND DEFICITS Special Revenue Funds - Cross Key Waterway Estates Road - The unreserved fund balance deficit in this fund is $26,283 which represents funding for a road project financed by tax anticipation notes. The deficit will be eliminated as taxes are collected to repay the note. Enterprise Funds - Muncipal Service District - The accumulated deficit of $208,772 represents the accumulated operating losses since the District' s inception and is partly attributable to depreciation expense recorded on contributed assets. The deficit will be eliminated by continuing to collect assessments and fees as increased in the prior year. NOTE 13 - SEGMENTS OF ENTERPRISE ACTIVITIES Municipal Service District operating revenues are generated primarily by billings for mandatory garbage collection. Card Sound Bridge operating revenues are generated through tolls for the use of the Bridge. The key —31— MONROE COUNTY, FLORIDA NOTES TO COMBINED FINANCIAL STATEMENTS SEPTEMBER 30, 1987 NOTE 13 - SEGMENTS OF ENTERPRISE ACTIVITIES (Continued) financial data for the year, ended September 30, 1987 for the above ser- vices are as follows: Municipal Card Service Sound District BELdqe Totals Operating revenues 1 6,413,396 J801,139 $ 7,214,835 Operating expenses 5,136,726 487,295 5,624,021 Depreciation 859,781 46,222 906,003 Total Operating Expenses 5,996,507 533,517 6,530,024 Operating Income 416,889 267,922 684,811 Taxes 800,474 - 8005474 Operating Grants 291,284 - 291,284 Interest Income 451,658 25,158 476,816 Interest expense and other debt service costs (787,553) (15,541) (803,094) Net Income $ 1,172,752 $ 277,539 $ 1,450,291 Net increase (decrease) in working capital $ 908,933 $ 631,542 $ 1,540,475 Assets $16,453,818 $ 3,214,204 $19,668,022 Bonds payable $ 9,021,548 $ - $ 9,021,548 Contributed capital $ 2,805,649 $ 2,761 $ 2,808,410 Fund equity $ 4,744,749 $ 2,135,045 $ 6,879,795 Acquisition of property, plant and equipment $ 676,647 $ 9,975 $ 686,622 -32- MONROE COUNTY, FLORIDA NOTES TO COMBINED FINANCIAL STATEMENTS SEPTEMBER 30, 1987 NOTE 14 - RETIREMENT PLAN All full-time county employees are participants in the Florida Retirement System (The System), a defined benefit, multiple-employer public retire- ment system, which is controlled by the State Legislature and administered by the State of Florida, Department of Administration, Division of Retirement. The plan covers a total of approximately 420,000 full-time employees of various governmental units within the State of Florida. The System provides for vesting of benefits after 10 years of creditable service. Normal retirement benefits are available to employees who retire at or after age 62 with 10 or more years of service. Early retirement is available after 10 years of service with a 5% reduction of benefits for each year prior to the normal retirement age. Retirement benefits are based upon age, average compensation and years-of-service credit where average compensation is computed as the average of an individual ' s five highest years of earnings. Participating employer contributions are based upon state-wide rates established by the State of Florida. These rates are applied to employee salaries as follows: regular employees - 13.14%, special risk employees - 15.11%, and elected officials - 17.19%. Total payroll for the County employees covered by the System was approximately $16,300,000 for the year ended September 30, 1987. The County' s total payroll was approximately $16,700,000 for the same period. The County' s contribution to the plan for the year ended September 30, 1987 was approximately $2,200,000 and was paid by the due date for the contribution. This represents 13.5% of the County' s covered payroll . The pension benefit obligation for the System as a whole determined through an actuarial valuation was $16.2 billion at July 1, 1985, the date of the most recent actuarial report. The report also indicated that the System had total assets of approximately $8.8 billion at that date. The total unfunded prior service cost at July 1, 1985 was approximately $7.4 billion and is being amortized over 24 years. The pension benefit obligation is a standardized disclosure measure of the present value of plan benefits, adjusted for the effect of projected salary increases and step-rate benefits estimated to be payable in the future as a result of employee service to date. The measure is intended to help users assess the System' s funding status on a going concern basis, assess progress made in accumulating sufficient assets to pay benefits when due and make com- -33— MONROE COUNTY, FLORIDA NOTES TO COMBINED FINANCIAL STATEMENTS SEPTEMBER 30, 1987 NOTE 14 - RETIREMENT PLAN (Continued) parisons among retirement systems and among employers® The System does not make separate measurements of asset and pension benefit obligations for individual employers. Ten-year historical trend information showing the System' s progress in accumulating sufficient assets to pay benefits when due is presented in the System' s July 1, 1985 Comprehensive Annual Financial Report® NOTE 15 - ANNUAL LEAVE COMMITMENTS County policy grants employees annual leave in varying amounts® Upon ter- mination of employment, employees with six months or more of credited ser- vice can receive payment for accumulated annual leave® NOTE 16 - INTERFUND TRANSFERS Operating transfers during the year ended September 30, 1987, consisted of the following: Fund Operating Operating Transfers In Transfers Out General Fund $ 12,524,533 $ 1,732,464 Debt Service Fund - General Obligation Bonds 1965 - 7,483 Special Revenues Fine and Forfeiture 11,939,723 Fire and Ambulance District IB - 10,417 Fire and Ambulance District 2 24,851 31,895 Fire and Ambulance District 3 - 32,757 Fire and Ambulance District 4B 19,506 36,713 Fire and Ambulance District 5 - 33,830 Fire and Ambulance District 6 - 41,770 Fire and Ambulance District 7 - 6,945 Fire and Ambulance District IC - 13,889 Fire and Ambulance District I - 22,570 Fire and Ambulance District 4A - 27,669 Fire and Ambulance District 1A - 12,153 Planning, Building and Zoning - 387,493 Parks and Beaches - 86,960 44,357 12,684,784 —34— MONROE COUNTY, FLORIDA NOTES TO COMBINED FINANCIAL STATEMENTS SEPTEMBER 30, 1987 NOTE 16 - INTERFUND TRANSFERS (Continued) Fund Operating Operating Transfers In Transfers Out Capital Projects Fund General Projects 1,855,841 - $ 14,424,731 $ 14,424,731 NOTE 17 - DEFERRED COMPENSATION PLAN The Sheriff, Tax Collector and Property Appraiser offer their employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan, available to all the Officers' employees, permits them to defer a portion of their salary until future years. The deferred compensation is not available to employees until termination, retirement, death, or unforeseeable emergency. All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property, or rights are (until paid or made available to the employee or other beneficiary) solely the property and rights of the Officers (without being restricted to the provisions of benefits under the plan), subject only to the claims of the Officers' general creditors. Participants' rights under the plan are equal to those of general credi- tors of the Officers in an amount equal to the fair market value of the deferred account for each participant. The Officers have no liability for losses under the plan but do have the duty of due care that would be required of an ordinary prudent investor. The Officers believe that it is unlikely that they will use the assets to satisfy the claims of general creditors in the future. NOTE 1 - LITIGATION The County is a defendant in various law suits and is involved in other disputes wherein substantial amounts are claimed. In the opinion of the County these suits and claims should not result in judgements or settlements which, in aggregate would have a material adverse effect on the County' s financial condition. —35— MONROE COUNTY, FLORIDA NOTES TO COMBINED FINANCIAL STATEMENTS SEPTEMBER 30, 1987 NOTE 19 - COMMITMENTS AND CONTINGENCIES Self Insurance Programs - The County is self-insured for losses in the areas mentioned below. Claims are paid from the Group Insurance and Workmen' s Compensation Internal Service funds which are funded by contri- butions from other funds and in the case of Group Insurance, employees. The contributions are determined by projected losses based on historical claims experience. Estimated liabilities for claims and judgements are accrued as liabilities of the funds. As of September 30, 1987, there are no material long-term liabilities for claims and judgements. The following schedule reflects the amounts of self insurance and outside coverage as of September 30, 1987: Deductible Amount Limits of Outside Area Covered (Self-Insured Liability Workers' Compensation $ 200,000 $5,000,000 each occurrence Group Medical 25,000 $1,000,000 each occurrence Grant Programs - The County participates in a number of federally assisted grant programs. These programs are subject to financial and compliance audits by the grantors or their representatives. As of March 3, 1987 there were no material questioned or disallowed costs as a result of grant audits in process or completed. NOTE 20 - NOTES PAYABLE Notes payable at September 30, 1987 are composed of the following: Tax anticipation notes: Note payable to bank, secured by tax anticipation warrant, payable in installments of $20,000 due September 12, 1988 - 1989 from special district funds, bearing interest at 7.0% $ 27,560 Note payable to bank, secured by tax anticipation warrant, payable on July 29, 1988 from special district funds, bearing interest at 7.8% 30,000 Other note - Note payable to individual , unsecured, payable November 1, 1987 from capital projects funds, bearing interest at 7.0% 62,000 I_LL9,560 —36— SPECIAL REVENUE FUNDS Fine and Forfeiture - To account for revenues received from fines and for- features imposed from 'the commission of statutory offenses, and ad valorem taxes that are transferred to the sheriff' s department and to account for operations of the county' s court support system. Road and D de - To account for all revenues, operating expenditures and capital improvement for the county' s road department. Law LibrLrj - To account for all revenues and operating exenditures for county' s law library. Tourist kt±tj2patnt Districts - To account for the local option three cent bed tax in five district sub-funds for the operating expenditures of adver- tising, promotions and special events, of the County Tourist Development Council . Fire and Ambulance Districts - To account for all revenues and operating expenditures in eleven sub-funds for county fire and ambulance services. Translator Sy stem Services District - To account for all revenues and operating expenditures for the county' s television translator system. �ial Road Districts - To account for all revenues, operating expen- ditures and tranfers to the county' s road department for special roads in the sub-fund for Cross Key Waterway Estates and the sub-fund of Gulf Drive road. Mariners, Hospital District - To account for the operating expenditures used by the private for profit Mariners Hospital for debt retirement and capital outlay. Unincorporated Area Services District - To account for all revenues and operating expenditures in the sub-fund for Planning, Building and Zoning, and the sub-fund for Parks and Recreation. Impact Fees - To account for special assessment revenues in five sub-funds of the unincorporated area from impacts fees for roadways, parks libraries, solid waste, and police facilities. Sheriff La_fetX Seat Er22 ram - To account for all revenue and expenditures _ for the safety seat program of the sheriff' s department. ` MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET ALL SPECIAL REVENUE FUNDS SEPTEMBER 30, 1987 Fine Road Law Tourist & & Library Development Forfeiture Bridge Districts --------- --------- --------- --------- ASSETS CASH AND INVESTMENTS 2`219,233 $ 4`468`888 $ 19,590 1 `177,393 RECEIVABLES: DELINQUENT TAXES 20,589 -- -- -- ALLOWANCE FOR UNCOLLECTIBLE TAXES (1 ,029) -- -- -- ACCOUNTS -- 375 -- -- DUE FROM OTHER FUNDS -- -- -- -- DUE FROM OTHER GOVERNMENTAL UNITS 731 ,599 217,425 1 ,410 571 ,971 ____________ ____________ __________ ___________ TOTAL ASSETS $ 2,970,392 $ 4,686,688 � 21 ,000 $ 1 ,749,364 ============ ============ ========== =========== LIABILITIES AND FUND BALANCES ----------------------------- LIABILITIES: ACCOUNTS PAYABLE $ 10,721 $ 242,014 $ 1 ,228 $ 143,984 CONTRACTS PAYABLE -- -- -- 9,028 ACCRUED LIABILITIES 1 ,111 39,382 -- -- DEPOSITS HELD IN ESCROW -- 9v097 -- DUE TO OTHER FUNDS 29/678 33,630 1 ,256 -- DEFERRED REVENUES -- -- -- NOTES PAYABLE -- -- -- -- DTHER LIABILITIES 3,821 1x087 -- -- ____________ ------------____________ __________ ___________ TOTAL LIABILITIES 45,331 325`710 2,476 153°012 ____________ ____________ __________ ----------- FUND BALANCES: RESERVED FOR ENCUMBRANCES -- 627 -- -- UNRESERVED 2,925`061 4,360 ,351 18,524 1 ,596`352 ------------ ------------ ---------- __-____-__- TOTAL FUND BALANCE 2,925`061 4,368 ,978 18,524 1 ,596,352 ------------ ------------ ---------- ----------- TOTAL LIABILITIES AND FUND BALANCES $ 2,970 ,392 $ 4,686,688 $ 21 ,800 $ 1 ,749,364 ============ ============ ========== =========== -37- - ' ` _ -- Fire Translator Special Mariners Unincorporated Impact Sheriff Total And System Road Hospital Area Fees Safety Ambulance Service Districts District Services Seat -- Districts District District Program _________ _________ --------- ----------- ---------- _________ --------- _________ � $ 2,145,008 $ 691 :241 $ 1 ,276 $ 3,319 $ 2,982,726 $ 840,924 $ 8,622 $ 14,486,220 -- 4,542 750 -- 1 ,332 -- -- -- 27,213 (225) (37) -- (66) -- -- -- ( 1 »857) 196 -- 571 -- 19,286 -- -- -- -- 19,206 13r980 8,072 505 5,405 24,971 -- -- 1 ,575,338 ___________ __________ _________ --------- -------------- _________ _________ _______-____ $ 2,182,707 $ 700,026 $ 1 ,781 $ 9,990 $ 2,927,697 $ 848,924 $ Q,822 $ 16«107,191 -_ $ 74`734 � 3,29R � -- � �- $ 66,24� $ -- $ � 542,�O8 -- - 111 ,167 -- -- 9,990 86,287 -- -- 216,472 17,454 -~ -- -- 97,740 -- -- 156/187 -- -- -- -- 2`488 11 ,577 15,495 6,452 -- -- 59,944 -- -- 146,455 -- -- -- -- -- 2599448 -- -- 259,448 381,008 -- 27,560 -- -_ -- 57,560 4,908 ----------- __________ --------- --------- -------------- _________ _________ ____________ 248`858 9`742 27,560 9,990 569,664 -- 2,480 1 ,394,915 ___________ __________ _________ _________ ______________ _________ _________ ____________ 25,B45 203 -- -- 43,456 -- -- 70 `131 1 ,988,012 690 ,881 (25,779) -- 2,314,577 848,924 6,142 14,642,245 ----------- __________ _________ --------- ______________ --------- --------- _________-__ -� 1 ,933,857 690x284 (25v779) -- 2,358,033 848'924 6,142 14/712,376 ___________ __________ _________ _________ ______________ _________ _________ ------------- $ 2, 182`707 $ 700`026 1 ,781 $ 9v990 $ 2,927,697 $ 848,924 $ 8,622 $ 16,107,191 ========== ========= ========= ============== ========= ========= ============7 ' -38- MQNROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE ALL SPECIAL REVENUE FUNDS SEPTBMBER 30, 1987 Fine Road Law Tourist & & Library Development Forfeiture Bridge Districts --------- --------- --------- __-______ REVENUES TAXES $ 10 `745,869 $ 1 ,394,732 S -- $ 3r280 / 127 LICENSES & PERMITS -- -- -- -- INTERGOVERNMENTAL REVENUES 169`835 1 ,982,411 -- -- CHARGES FOR SERVICES 60 ,748 -- -- -- FlNES & FORFEITURES 1 ,328/077 -- 16`935 -- INTEREST INCOME 247/562 2505180 1 /415 57`414 ASSESSMENTS -- -- -- -- MISCELLANEOUS REVENUES 2,525 17,747 -- 2v050 ------------ ____________ ---------- _-_____-___ T8TAL REVENUES 12,553,816 3,645°070 18,350 3`339`591 ____________ ____________ __________ ----------- EXPENDITURES ------------ GENERAL GOVERNMENT 253,219 -- 26,617 -- PUBLIC SAFETY 719,381 -- -- TRANSPORTATION -- 2`939,374 -- -- ECONOMIC ENVIRONMENT -- -- -- 2,6891329 HUMAN SERVICES -- -- -- -- CULTURE AND RECREATION -- -- -- CAPITAL OUTLAY -- 237,825 9,366 -- -____-_____- ------------____________ ---------- ______-____ TDTAL EXPENDITURES 972,600 3,177, 199 35`983 2,689,329 ____________ ____________ __________ ___________ EXCESS OF REVENUES OVER/ (UNDER) EXPENDITURES 11 `581 ,216 4675871 ( \7,633) 650 /262 ____________ ____________ __________ ___________ OTHER FINANCING SOURCES (USES) ------------------------------ TRANSFERS FROM OTHER FUNDS -- -- --TRANSFERS TO TO OTHER FUNDS (11 `939,723) -- -- -- ____________ ------------____________ __________ ___________ TDTAL OTHER FINANCING SOURCES/(USES) ( 115939,723) -- -- -- ____________ ------------____________ __________ ___________ EXCESS OF REVENUES AND OTHER SOURCES OVER/(UNDER) EXPENDITURES & OTHER USES (358`507) 4679871 ( 17,633) 650 `262 FUND BALANCE, OCTOBER 1 , 1986 3,283.568 3,893,107 36` 157 946,090 ____________ ____________ __________ ___________ FUND BALANCE/ SEPTEMBER 30 , 1987 $ 2`925,D�1 $ 4,360 `978 � 18,524 $ 1 `596,352 ============ ============ ========== =========== -39- ~- Fire Translator Special Mariners Unincorporated Impact Sheriff Total And system Road Hospital Area Fees Safety Ambulance Service Districts District Services Seat ~_ Districts District District Program _________ _________ _________ _________ --------- --------- _________ -- $ 1 ,418 ,985 $ 805,817 $ 50 ,778 $ 546,388 $ 1 `642,968 $ $ 19,876,864 -- -- -- -- 1 ,346`216 -- -- 1 ,346`216 25,879 -- -- -- 437,157 -- -- 2,615,282 -- 13,980 8,072 505 5,405 16,503 -- 4,587 109,800 -- -- -- -- 4,385 -- -- 1 ,349,317 153`923 26,007 5,333 6,391 179,554 9,299 ` -- 937,078 _. -- -- 27,028 -- -- 839,625 -- 866,653 1 ,366 3,374 -- -- 12,375 -- -- 395337 ----------- ---------- --------- --------- -------------- --------- _________ _________-__ 1 ,6O6,Q33 843,270 83°644 558, 184 3,639,078 848,924 4,587 27» 140°547 ----------- ---------- --------- --------- ______________ _________ --------- ________-___ -_ 77,956 -- -- -- 1 ,232,997 -- -- 1 ,590 ,789 1 `140 ,619 -- -- 1 `310 ,824 5,416 3,176,248 -- -- 11 ,997 -- -- --' -- 2,951 ,371 -- -- -- _�- -- -- -- 2,6B9v8229 -- -- -- -- 558,184 -- -- -- 558, 184 -- 215'044 -- -- 181 `052 -- -- 396,096 270 ,567 -- -- -- 171 ` 101 -- -- 688`859 ----------- ---------- --------- --------- ______________ --------- --------- ____________ 1 ,489, 142 215,044 11 `997 558`184 2,895,974 --- 5,416 12,050 ,868 ----------- __________ --------- _________ -------------- --------- --------- _-__________ -_ 116,891 628,226 71 ,647 _- 743, 104 848,924 (829) 15,089,679 ___________ ---------- _________ _________ --------------- _________ --------- ___-________ _ 44,357 -- -- -- --- -- -- 44,357 (270 ,608) -- -- -- (474`453) ( 12°684`784) -_ ----------- ---------- _________ ---------- -------------- _________ --------- ____________ (226,251 ) -- -- -- (474,453) -- -- ( 12,640 ,427) ___________ __________ _________ _________ ______________ _________ _________ ____________ ( 1D9,36Q) 628,226 71 `647 -- 268,651 848,924 (829) 2v449`252 2.043/217 62v058 (97`426) -- 2,089,382 -- 6`971 12,263024 ___________ __________ _________ _________ ______________ _________ _________ ____________ 1 .933`857 $ 690 ,284 $ (25,779)$ 2,358`033 $ 848`924 $ 6/142 $ 14,712,376 =========== ========== ========= ========= ============== ========= ========= ============ -1 MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - ALL °SPEC:IAL REVENUE FUNDS SEPTEMBER 30, 1907 Fire and Forfeiture __-_____-___®__________________________ Variance Favorable Budget Actual (Unfavorable) ____________ ____________ _____________ REVENUES TAXES $ 11 ,079,519 . 10 ,745,069 (334,450) LICENSES & PERMITS -- -- -- INTERGOVERNMENTAL REVENUES 100 ,314 169,835 69,521 CHARGES FOR SERVICES 71 ,000 60 ,748 10 ,952) FINES & FORFEITURES 895,000 1 ,3' 8,077 433,077 INTEREST INCOME 150 ,000 247,562 97,5E2 ASSESSMENTS __ __ -- MISCELLANEOUS REVENUES 1 ,500 ,525 1 ,025 ------------ ------_----- ®_-_________- TOTAL REVENUES 12,297,333 12,553j816 256,03 ------------ ------------ _____®.____--- E PENDITURES ------------ GENERAL GOVERNMENT 254,000 253,219 701 PUBLIC: SAFETY 731 ,596 71993SI 12,215 TRANSPORTATION _- -- -- ECONOMIC: ENVIRONMENT HUMAN SERVICES CULTURE AND RECREATION CAPITAL OUTLAY ____________ ____________ _____________ TOTAL EXPENDITURES 985,596 972,600 12,996 ____________ ____________ _____________ EXCESS OF REVENUES OVER/ (UNDER) EXPENDITURES 11 ,311 ,737 11 ,581 ,216 2695479 ____________ ____________ _____________ OTHER FINANCING SOURCES :USES? _®______________®__-_-_--__-_- RESERVE FOR CONTINGENCIES -- -- ®- TRANSFERS FROM OTHER FUNDS -_ - -- TRANSFERS TO OTHER FUNDS ( 10,369,921 ) 11 ,939,723) 430 , 190 PROCEEDS FROM TAX ANTICIPATION NOTE -_ __ -- ------------ ------------ _____________ TOTAL OTHER FINANCING SOURCES. F:USES) (12,369,921 ) ( 11 ,939,723) 430 , 198 ____________ ____________ ------------- EXCESS OF REVENUES AND OTHER SOURCES OVER..'{UNDER) EXPENDITURES & OTHER USES ( 1 ,050, 104) (350,507) 6995677 FUND BALANCE, OC:TOBER 1 , 1906 3,283,568 3, 03,568 -- ------------ ____________ _____________ FUND BALANCE, SEPTEMBER 30 , 1907 .2,225,304 2,'925,061 699,677 -41- Ro----ikd and Bridge Law Library --------------------------------------- --------------------------------------- Variance Favorable Favorable Budget Actual (Unia orabl ) Budget Actual (Unf-avorable) 1 ,430 ,000 . 1 ,394,732 . (35,268)$ -- -- 1 ,9 1 ,000 1 ,982,411 21 ,411 ---- -- -- 16,€100 16,935 935 150 ,000 100 ,180 3,000 1 ,415 ( 1 ,585) 17,747 17,747 3,541 ,000 3,64 ,070 104,070 19,000 18,350 (650) _--- ------------------------ ------------- ------------ ------------ ------------- 6,811 ,642 2,939,374 3,872,268 307, 100 237, 25 69,275 9,973 9,366 607 7, 113, .p422 3,177,199 3,941 ,543 37,000 35,983 1 ,017 (3,577,742) 467,871 4,045,613 ( 18,000) ( 17,633) 367 K 90 ,695> - 90,695 11 g 110) ---`"`-------- ------------ ------------- ---- -------- -------------- _..------------ E64,723? -- 64,723 (11 ,050) _- 11 ,050 ----------- ------------ ------------- ------------ ------------ .__.----------- „3,642,46 ) 467,871 4, 11 ,336 (29,050) (17,633) 11 ,417, 3,893, 107 3,893,107 -- 36, 157 36,157 -- -..,,.._..,.-------- ------------ ---_---„„_--_._ -----...-.. ---- -.m... ----.»---- .®---_--_...__-_ 250,, 642 . 4,360 ,978 . 4, 110 ,336 ° 7, 10-1 18,524 . 11 ,417 f'++'�g (Continued) -42- MOMROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - ALL SPECIAL REVENUE FUNDS - CONTINUED SEFTEMBER 30 , 1987 Tourist Development ` District One --------------------------------------- Variance Favorable Budget Actual (Unfavorable) ------------ ------------ _-___________ REVBNUES TAXES $ 1 ,980 `591 $ 1 ,893`727 $ (86,864) LICENSES & PERMITS -- -- -- IWTERGOVERNMENTAL REVENUES -- --CHARGES FOR FOR SERVICES -- -- -- FINES & FORFEITURES -- -- -- INTEREST INCOME -- 26,246 26,246 ASSESSMENTS -- -- -- MISCELLANEOUS REVENUES -- 410 418 ____________ -_____ ----- ___-__-______ TOTAL REVENUES 1 ,988 ,591 1 ,920,383 (80 ,288) ____________ ____________ _____________ EXPENDITURES ------------ GENERAL GOVERNMENT -- --PUBLIC SAFETY SAFETY -- -- -- TRAMSPORTATIDN -- -- -- ECONOMIC ENVIRONMENT 2,214,897 1 ,395,782 819,195 HUMAN SERVICES -- -- -- CULTURE AND RECREATION -- -- -- CAPITAL OUTLAY -- -- -- ____________ ------------____________ _____________ TOTAL EXPENDITURES 2,214,897 1v395,702 819`195 ____________ ------------ __-_---______ EXCESS OF REVENUES OVER/ (UNDER) EXPENDITURES (234,386) 524,681 758`987 ____________ ____________ _____________ OTHEH FINANCING SOURCES (USES) ------------------------------ RESERVE FOR CONTINGENCIES -- -- -- TRANSFERS FROM OTHER FUNDS -- --TRANSFERS TO TO OTHER FUNDS -- -- -- PROCEEDS FROM TAX ANTICIPATION NOTE -- -- -- ____________ ------------____________ _____________ TOTAL OTHER FINANCING SOURCES/(USES) -- -- -- ------------ ------------ ------------- EXCESS OF REVENUES AND OTHER SOURCES OVER/(UNDER) EXPENDITURES & OTHER USES (234,306) 524,681 758,987 FUND BALANCE, OCTOBER 1 , 1986 334,994 334,994 -- ------------ ____________ _____________ FUND BALANCE, SEPTEMBER 30 / 1987 � 10O,688 $ 859,675 $ 758,987 ============ ============ ============= -43- Tourist Development , District Two Tourist Development , District Three ---------------------------------------- -----------------_----___-____-__-______ Variance Variance Favorable e Favorable e Budget . Actual (Unfavorable) Budget Actual (Unfavorable) 249,090 . 243,397 ° (5,693)$ 403,331 . 436,373 . 33,042 -- 6,046 6,046 - 6,'235 6,23 -_ 410 410 410 410 ------------ ------------ ------------- ------------ ------------- ------------- 249,090 249,853 763 403,331 443,018 39,637 343,424 243,499 99,925 514,092 49,339 34,703 ------------ ------------ ------------- ------------ ------------ --_---------- 343,424 243,499 99,925 514,092 429,389 34,70,E ------------ .. --„.-------- -------------- -----.-...-- -- ----- ----- ...------------- {94,334) 1 6,354 100,633 ( 110 ,761 ) 124,390 ------------ ------------ ------------- ------------ ------------ -------------- ------------ ------------ ------------- ------------ ------------ ------------- (94,334) 6,354 100 ,633 (110 ,761 ) 13,629 124,390 106,789 106,789 -- 130 ,929 130 ,929 -_ ------------ ------------ ------------- ------------ ------------ ------------- $ 12,455 $ 113,,143 $ 100,633 $ 20 ,166 $ 144,558 $ 124,390 ------------ ------------ ------------- ------------ ------------ ------------- (-c6iTf THTeT -44- M0NRDE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - ALL SPECIAL REVENUE FUNDS - CONTINUED SEPTEMBER 38 , 1987 Tourist Development , District Four --------------------------------------- Variance Favorable Budget Actual (Unfavorable) ____________ ____________ _____________ REVEMUES TAXES $ 272`401 $ 307,580 t 35'179 LICENSES & PERMITS -- -- -- INTERGOVERNMENTAL REVENUES -- -- -- CHARGES FOR SERVICES -- -- -- FINES & FORFEITURES -- -- INTEREST INCOME -- 7,972 7,972 ASSESSMENTS -- -- MISCELLANEOUS REVENUES -- 410 410 ____________ ------------ ___-_________ T0TAL REVENUES 272,401 315,962 43,561 ____________ ____________ _____________ EXPBNDITURES ------------ GENERAL GOVERNMENT -- --PUBLIC SAFETY SAFETY -- -- -- TRANSPORTATION -- -- -- ECONOMIC ENVIRONMENT 432,877 268,552 164/325 HUMAN SERVICES -- -- -- CULTURE AND RECREATION -- -- -- CAPITAL OUTLAY -- -- -- -__________- ------------____________ _____________ TOTAL EXPENDITURES 432,877 268`552 164,325 ------------ ------------ ------------- EXCESS OF REVENUES OVER/ (UNDER) EXPENDITURES ( 160,476) 47,410 207,886 ____________ ____________ _____________ OTHER FINANCING SOURCES (USES) ------------------------------ RESERVE FOR CONTINGENCIES -- -- -- TRANSFERS FROM OTHER FUNDS -- -- -- TRANSFERS TO OTHER FUNDS -- -- -- PROCEEDS FROM TAX ANTICIPATION NOTE -- -- -- ____________ ------------____________ _____________ T8TAL OTHER FINANCING SOURCES/(USES) -- -- -- _________-_- ------------_--_--__--_- -----_--_---_ EXCESS OF REVENUES AND OTHER SOURCES OVER/(UNDER) EXPENDITURES & OTHER USES (160 `476) 47,418 207,886 FUND BALANCE, QCTOBER 1 , 1986 172,433 172,433 -- ------------ ____________ _____________ FUND BALANCE, SEP7EMBER 30 ` 1987 $ 11 `957 $ 219,843 $ 207,886 = -45- Fire and Ambulance District , Tourist Development , District Fire OIB - Big Gop itt Key --------------------------------------- -----------_____-__----_-----_-____-___ Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget actual <Unfavorable) 391 ,191 . 399,050 ° 7,859 . 42,457 . 46,669 . 4,212 440 440 -- -_ 432 432 10 ,915 10 ,915 _® 4j532 4,532 -_ 410 410 ----------°°-- ------------ ------------- ------------ ------------ ----------_ ..- 391 , 191 410 ,375 19, 184 42,397 52,073 9,176 ------------ ------------ ------------- ------------ ------------ ------------- -- 3,500 2,565 935 94,465 69,105 25,360 572,575 352, 187 2205388 �- -- ------------ ------------ ------------- ------------ ------------ --®___--_-_-- 572,575 3529187 220 ,388 106,988 805693 26,295 ------------ ------------ ------------- ------------ ------------ .-_,...___._-_.___- ( 1L15384) 50, 108 239 ,572 V64,091? (28,620) 35,471 -'� -- -- (5,5 6) -® 5,586 -- -- -- ( 13,201 ) ( 10 ,417) 2,734 ------------ ------------ ------------- ------------ ------------ ------------- 18,787) ( 10 ,417) 3,370 ------------ ------------ ------------- ------------ ------------ ------------- ( 101 ,304) 58,188 2395572 ( 2,37S) (39,037) 43,841 200j945 200,945 -- 112,461 112,461 --- 19,561 . 259, 133 239,572 • 29,583 ° 73,424 ° 43,341 =-= --- ---- ` gCo on -46- MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - ALL SPECIAL REVENUE FUNDS - CONTINUED SEPTBMBER 30 , 1987 Fire and Ambulance District , 42 - Marathon --------------------------------------- Variance Favorable Budget Actual (Unfavorable) ------------ ------------ ------------- REVENUES TAXES $ 162,747 $ 162,332 $ (415) LICENSES & PERMITS -- -- INTERGOVERNMENTAL REVENUES 4,865 4,865 -- CHARGES FOR SERVICES -- 1 ,513 1 ,513 FINES & FORFEITURES -- -- INTEREST INCOME -- 20 `516 20 ,516 ASSESSMENTS -- -- -- MISCELLANEOUS REVENUES -- 368 368 ____________ ____________ _____________ TOTAL REVENUES 167,612 189,594 21 `982 ____________ ____________ _____________ EXPBWDITURES ------------ GENERAL GOVERNMENT 11 ,811 11 ,783 28 PUBLIC SAFETY 301 `329 158,492 142,837 TRANSPORTATION -- -- -- ECONOMIC ENVIRONMENT -- -- -- HUMAN SERVICES -- -- -- CULTURE AND RECREATION -- -- CAPITAL OUTLAY 20 ,685 20 `264 421 ____________ ____________ _____________ TOTAL EXPENDITURES 333`825 190v539 143°286 ____________ ____________ _____________ EXCESS OF REVENUES OVER/ (UNDER) EXPENDITURES (166/213) (945) 165`268 ____________ ____________ _____________ QTHER FINANCING SOURCES (USES) ------------------------------ RESERVE FOR CONTINGENCIES (54,057) -- 54,857 TRANSFERS FROM OTHER FUNDS 245851 24,851 -- TRANSFERS TO OTHER FUNDS (43,444) (31 ,895) 11 /549 PROCEEDS FROM TAX ANTICIPATION NOTE -- -- -- ------------ ____________ _____________ TOTAL OTHER FINANCING SOURCES/(USES) (72,650) (7,044) 65`606 ------------ ------------ _____________ EXCESS OF REVENUES AND OTHER SOURCES OVER/(UNDER) EXPENDITURES & OTHER USES (238`863) (7,989) 2309874 FUND BALANCE, OCTOBER 1 , 1986 2495202 249.202 -- ------------ ____________ _____________ FUND BALANCE` SEpTEMBER 30 ` 1987 $ 10 ,339 $ 241 `213 � 230 ,074 ============ ============ ============= -47- Fire and Ambulance District , Fire and Ambulance District , #3 - Conch Key 44B - Islamorada Variance Variance Favorable Favorable Budget Actu.-al (Unfavorable) Budget Actual (Unfavorable) ------------- ------------ ------------- ------------ ------------ ------------- 52,697 ' 51 , 113 ( 1 ,584)$ 353,381 . 326,033 ' (27,848) 22 -_ 2,453 2,45 -_ _ 504 504 _ 3,243 3,243 _- 9,639 9,639 -® 18,946 18,946 500 500 5=3,622 62,188 8,559 35r6, '39 351 ,180 (5,159) _____ ______ ------------- -------------- ------------ ------------ ----_----_--- 3,900 2,909 991 16,7G0 15,643 1 ,052 83,242 33,405 49,837 374,723 169,748 205,050 3,435 -3,419 6" 32,687 27,692 4,925 ------------ ----....-.. ----- ------------- ------------ ---......`__J.... --- -v,-...,®__-..._.m._- 9U ,627 39,733 50 ,894 424, 135k 213,088 211 ,097 ------------ ------------ ------------- _-----_,.,..---_ ------------ --_-.®_..----..-- (36, 5`3) 22,455 59,453 (67,846) 138,092 205,938 � 14,147) 14,147 (33,402) 33,402 -- 19,506 19,506 -- (37,682" Q2,757) 4,925 (38,064) (36,713) 1 ,351 (51 ,82) (32,757) 19,072 (51 ,960) 417,207) 34,753 _----- ------------------------ ------------- ------------ ------------ ------------- (88,827) ( 10 ,302) 78,525E ( 119,806.) 120 ,335 240 ,691 114,591 114,591 -- 159, 137 159, 137 °-- 2 ,764 • 104,289 - 73,525 ;F',331 280 ,022 ' 240 ,691 -4 - MONRQE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - ALL SPECIAL REVENUE FUNDS - CONTINUED SEPTEMBER 30 , 1987 Fire and Ambulance District , #5 - Plantation Key --------------------------------------- Variance Favorable Budget Actual (Unfavorable) ------------ ------------ ------------- REVENUES TAXES $ 283`799 $ 275,608 $ (8, 191 ) LICENSES & PERMITS -- -- INTERGOVERNMENTAL REVENUES 2,623 3,623 1 ,000 CHARGES FOR SERVICES -- 2,811 2,811 FINES & FORFEITURES -- -- INTEREST INCOME -- 49,229 49`229 ASSESSMENTS -- -- MISCELLANEOUS REVENUES -- -- -- ____________ ------_______----- _____________ TOTAL REVENUES 286,422 331 ,271 44`849 ____________ ____________ _____________ EXPBNDITURES ------------ GENERAL GOVERNMENT 15,900 14,328 1 ,572 PUBLIC SAFETY 923,225 225,256 697,969 TRANSPORTATION -- -- -- ECONOMIC ENVIRONMENT -- -- -- HUMAN SERVICES -- -- -- CULTURE AND RECREATION -- -- CAPITAL OUTLAY 58,735 55`744 2,991 ____________ ____________ _____________ TOTAL EXPENDITURES 997,O60 295,328 702,532 ____________ ____________ _____________ EXCESS OF REVENUES OVER/ (UNDER) EXPENDITURES (7115438) 35,943 747,381 ____________ ____________ _____________ OTHER FINANCING SOURCES (USES) ------------------------------ RESERVE FOR CONTINGENCIES (35`130) -- 35, 130 TRANSFERS FROM OTHER FUNDS -- -- -- TRANSFERS TO OTHER FUNDS (36v720) (33,830) 2,890 PROCEEDS FROM TAX ANTICIPATION NOTE 134°993 -- (134,993) ____________ ____________ _____________ TOTAL OTHER FINANCING SOURCES/(USES) 63, 143 (33`030) (96`973) ____________ ____________ _____________ EXCESS OF REVENUES AND OTHER SOURCES OVER/(UNDER) EXPENDITURES & OTHER USES (648,295) 2, 113 650 ,488 FUND BALANCE, OCT0BER 1 , 1986 727,678 727,678 -- ------------ ____________ _____________ FUND BALANCE, SEPTEMBER 38, 1987 $ 79,383 � 729,791 $ 650 `408 ============ ============ ============= -49- Fire and Ambulance District , Fire and Ambulance District , 6 - South Key Largo #7 - Ocean Reef --------------------------------------- --------------------------------------- Variance Variance Favorable Favorable Budget Actual Unfavorable) Budget Actual (Unfavorable) ------------ ------------ ------------- ------------ ------------ ------------- e 126,119 . 125,432 . (687)$ 15,752 . 15,291 . (461 ) 4,994 4,994 3,287 3,287 -- 1 ,225 1 ,225 -- 144 144 _- 18,000 18,000 100 847 747 -® 118 118 -- -_ _- ------------ ------------ ------------- ------------ ------------ -_---_------- 131 ,113 149,769 18,656 19, 139 19,569 430 ------------ ------------ ------------- __. d»,..._..----_ ------------ ------°------- 10,500 9,287 1 ,213 701 701 _- 210,468 129,516 80,952 9,221 8,493 728 14,492 12,721 1 ,771 -- -- -- ------------- ------------ --------- -- ------------ ------------ ------------- 235,460 151 ,524 83,936 9,922 9,194 728 -,----------- ------------ ------------- ------------ ------------ -.-_.__--_----- (104,j47) �' 1 ,75 ) 102,592 9,217 10 ,375 1 , 158 ------------ ------------ ------------- ------------ ------------- _------------ 39,882) -- 39,882 (48) -- 48 (43,465) (41 ,770) 1 ,695 (9,381 ) (6,945) 2,436 ------------ ------------ ------------- ------------ ------------ ------------- (83,347) � 41 ,770) 41 ,577 (9,429) (6,945) 2,484 (187,694) (43,525) 144, 169 (212) 3,430 3,642 252,995 252,99 -- 11820 1 ,820 ®_ ----- ----- -------,.... -.-- -------------- ------------ ------------ ------------- $ 65,301 -$ 209,470 . 144, 169 . 1 ,608 . 5,250 3,642 (Continued) -50- MONRQ£ COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES` EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - ALL SPECIAL REVENUE FUNDS - CONTINUED SEPTEMBER 30 , 1987 Fire and Ambulance District , #1C - Sugarloaf Key --------------------------------------- Variance Favorable Budget Actual (Unfavorable) ____________ ____________ _____________ REVBNUES TAXES $ 158»499 $ 146,378 $ (12, 121 ) LICENSES & PERMITS -- -- INTERGOVERNMENTAL REVENUES 1 ,372 1 ,372 CHARGES FOR FQR SERVICES -- 1 /513 1 ,513 FINES & FORFEITURES -- -- INTEREST INCOME -- 6,852 6`852 ASSESSMENTS -- -- MISCELLANEOUS REVENUES -- 108 180 ____________ ____________ _____________ TOTAL REVENUES 159,871 156,215 (3,656) ____________ ____________ _____________ EXPBNDlTURES ------------ GENERAL GOVERNMENT 9,434 7`823 1 ,611 PUBLIC SAFETY 157,299 127,767 29,532 TRANSPORTATION -- -- -- ECONOMIC ENVIRONMENT -- --HUMAN SERVICES SERVICES -- -- -- CULTURE AND RECREATION -- -- CAPITAL OUTLAY 109,038 109,158 ( 120) ------------ ____________ ____--_______ TOTAL EXPENDITURES 275,771 244`748 31 `023 ____________ ____________ _____________ EXCESS OF REVENUES OVER/ (UNDER) EXPENDITURES ( 115,900) (88,583) 27`367 ____________ ____________ _____________ UTHER FINANCING SOURCES (USES) ------------------------------ RESERVE FOR CONTINGENCIES (7082) -- 7,482 TRANSFERS FROM OTHER FUNDS -- -- -- TRANSFERS TO OTHER FUNDS (16,625) (13,889) 2`736 PROCEEDS FROM TAX ANTICIPATION NOTE 30 ,000 -- (30 ,000> ------------ ------------ ________-___- TOTAL OTHER FINANCING SOURCES/(USES) 5,893 (13,889) ( 19,782) ------------ ------------ ------------- EXCESS OF REVENUES AND OTHER SOURCES OVER/(UNDER) EXPENDITURES & OTHER USES ( 110r007) (102,422) 79585 FUND BALANCE, OCTOBER 1 , 1986 133.200 133`200 -- ____________ ------------____________ _____________ FUND BALANCE, SEPTEMBER 30` 1987 � 23, 193 $ 30 ,778 $ 7,585 ============ ============ ============= -51- ' ' -� Fire and Ambulance District ` Fire and Ambulance Disfrictr 41 - Big Pine Key #4A - Long Key __________--_____-_______-------------- _____________-____--__________-________ Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Acfual (Unfavorable) ------------ ------------ _____________ ------------ ____________ __~___-____-_ $ 164,979 $ 159,93 $ (5,842)$ 53,399 $ 42,580 $ ( 10 ,819) 2v640 2,640 -- 285 285 -- -- 1 ,586 1 `586 -- 432 432 -- -- 11 ,500 11 ,500 -- 4,955 4,955 -- 18O 180 -- -- �- ------------ ____________ _____________ ____________ ------------ _________--_- 167,619 175,843 8,224 53,684 48,252 (5,432) ------------ ____________ _____________ ------------ ------------ __-__________ _ ` 9`5QU 7,964 1 ,536 3,408 2`278 1 , 122 178,412 147, 191 31 ,221 45,530 21 `564 23`966 17,935 13,781 4,154 8,938 8` 180 758 ' ------------ ------------ ------------- ------------ ------------ ____________- 205n847 168,936 36,911 57,868 32,822 25,846 ------------ ____________ _____________ ____________ ------------ -------------- (38/228) 6`9U7 45,135 (4v184) � 16,23O 20 ,414 - ____________ ____________ _____________ ____________ ____________ _____________ -` (32,323) -- '32,323 (11 ,986) 11 ,906 (26,200) (22,570) 3,630 (27,824) (27,669) 155 ____________ ------------ ------------- ____________ ____________ _______-_____ (58,523) (22,570) 35,953 (39,730) (27,669) 12,061 -� ____________ ------------ ------------- ____________ ____________ ___-_________ � (96,751 ) (15,663) 81 ,088 (43,914) (11 `439) 32,475 116'081 116v081 -- 62,670 62,670 -- ------------ ____________ _____________ ____________ ____________ _____________ $ 19,330 $ 100 ,418 $ 81 ,088 $ 18,756 �$ 51 ,231 $ 32`475 (Continued) ~52_ | / MQNR0E COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - ALL SPECIAL REVENUE FUNDS - CONTINUED SEPTBMBER 38, 1987 Fire and Ambulance District ` #1A - Stock Island --------------------------------------- Variance Favorable Budget Actual (Unfavorable) ------------ ____________ ____-______-_ REVENUES TAXES 61 ,586 59`612 $ (1 /974) LICENSES & PERMITS -- -- INTERGOVERNMENTAL REVENUES 983 983 -- CHARGES FOR SERVICES -- 577 577 FINES & FORFEITURES -- -- INTEREST INCOME -- 8,907 8,907 ASSESSMENTS -- -- MISCELLANEOUS REVENUES -- -- -- ____________ ------_______----- _____________ TOTAL REVENUES 62,569 70 ,079 7`510 ____________ ____________ _____________ EXPENDlTURES ------------ GENERAL GOVERNMENT 5`000 2,678 2,330 PUBLIC SAFETY 106,587 509082 56`585 TRANSPORTATION -- -- -- ECONOMIC ENVIRONMENT -- -- -- HUMAN SERVICES -- -- -- CULTURE AND RECREATION -- -- CAPITAL OUTLAY 11 `657 109585 1 `072 ------------ ------------ _______--____ TOTAL EXPENDITURES 123`244 63`337 59,907 ____________ ------------ -_______-___- EXCESS OF REVENUES OVER/ (UNDER) EXPENDITURES (60,675) 6,742 67,417 ------------ ------------ __-__________ OTHER FINANCING SOURCES (USES) ------------------------------ RESERVE FOR CONTINGENCIES (19,768) -- 19`768 TRANSFERS FROM OTHER FUNDS -- -- -- TRANSFERS TO OTHER FUNDS ( 15`478) ( 12, 153) 3,325 PROCEEDS FROM TAX ANTICIPATION NOTE -- -- -- ___________- ------------________-___ _____-__-____ TOTAL OTHER FINANCING SOURCES/(USES) (35,246) (12`153) 23,093 ------------ ------------ ------------- EXCESS OF REVENUES AND OTHER SOURCES OVER/(UNDER) EXPENDITURES & OTHER USES (95,921 ) (5`411 ) 90 ,510 FUND BALANCE' QCTOBER 1 ` 1986 113`382 113,382 -- ____________ ------------____________ _____________ FUND BALANCE, SEPTEMBER 30 , 1987 $ 17,461 $ 187`971 $ 98 `510 -53- Special Road District Translator System Service District Cross Key Waterway Estates _______________________________________ _______________________________________ Variance Variance Favorable Favorable Budget actual (Unfavorable) Budget Actual (UrEtavorable) ____________ ____________ ------------- ------------ ------------ --___-__--___ ®- 0,072 8,072 __ 505 505 10,000 26,007 16,007 -- 4,941 4,941 _- 3,374 3,374 -- _- _- 839,907 043,270 3,363 51 ,984 56,224 4,240 ____________ ------------ ------------- ------------ ------------ ___-__-__-__-_ 4. ,385 11 ,997 37,308 676,990 215,044 461 ,946 676,90 215,044 461 ,946 49,385 11 ,997 37,388 162,917 628,226 465,309 .2,599 44,227 41 ,628 (132,922) -- 132,922 ____________ ____________ _____________ ____________ ____________ _____________ 132,922) __ 132,922 29,995 628,226 598,231 2,599 44,227 41 ,628 62,058 62,058 -- 70,509) (70 ,509) -- ------------ ------------ ------------- ------------ ------------ ------------- $ 92,053 e 690 ,284 ° 598,231 (67,9100 (26,282) 41 ,628 (Continued) -54- MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - ALL SPECIAL REVENUE FUNDS - CONTINUED SEPTEMBER 30, 1987 Special Road District Gulf Drive --------------------------------------- Variance Favorable Budget Actual (Unfavorable) REVENUES TAXES $ $ -- LICENSES x PERMITS -- -- -- INTERGOVERNMENTAL REVENUES -- -- -- CHARGES FOR SERVICES -- -- -- FINES & FORFEITURES -- -- INTEREST INCOME -- 392 392 ASSESSMENTS 28,500 27,028 (1 ,472) MISCELLANEOUS REVENUES -- -- -- ------------ ------------ ------------- TOTAL REVENUES 28,500 27,420 (1 ,080) EXPENDITURES ------------ GENERAL GOVERNMENT -- -- -- PUBLIC SAFETY -- -- -- TRANSPORTATION 1 ,103 -- 1 ,103 ECONOMIC ENVIRONMENT -- -- -- HUMAN SERVICES -- -- -- CULTURE AND RECREATION -- -- -- CAPITAL OUTLAY -- -- -- TOTAL EXPENDITURES 1 ,103 -- 1 ,103 EXCESS OF REVENUES OVER/ (UNDER) EXPENDITURES 27,397 27,420 23 ------------ ------------ ------------- OTHER FINANCING SOURCES (USES) ------------------------------ RESERVE FOR CONTINGENCIES -- -- -- TRANSFERS FROM OTHER FUNDS -- -- -- TRANSFERS TO OTHER FUNDS (25,972) -- 25,972 PROCEEDS FROM TAX ANTICIPATION NOTE -- -- -- TOTAL OTHER FINANCING SOURCES&USES) (25,972) -- 25,972 -------- --- ------------ ------------- E)(CESS OF REVENUES AND OTHER SOURCES OVER.:(UNDER) EXPENDITURES & OTHER USES 1 ,425 27,420 25,995 FUND BALANCE, OCTOBER 1 , 1986 (26,917) (26,917) -- ------------ ------------ ------------- FUND BALANCE, SEPTEMBER 30 , 1987 $ (25,492)$ 503 $ 25,995 -55- Unincorporated Area Service District Mariners Hospital District Planning, Building and Zoning ----------------------------------------- --------------------------------------- Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget ActuaI (Unfavorable) ------------ ------------ ------------- ------------ ------------ ------------- 567,814 . 5 `46,388 (21 ,42 r� 1 ,287,090 1 ,248,759 (38,331 ) -- -- __ 881 ,261 1 ,346,216 464,955 _- -- __ 1 ,121 ,471 437,157 (684,314) _- 5,405 5,405 -- 12,463 12,46,E -- -- -- --- 4,305 4, 05 18,761 6,391 (12,370) 15,000 161 ,103 146,103 5,000 8,195 3, 195 586,575 558,184 (28,391 ) 3,309,822 3,218,198 (91 ,624) ------------ -----.------- _____________ ------------ ------------ ___-_-_-__-a-- -- _- 2,025,490 1 ,232,997 792,493 ®_ -- -- 1 ,360,312 1 ,310 ,824 49,488 558,184 558,184 _- _- 547,073 169,903 377, 170 ------------ ------------ ------------- ------------ ------------ -------------- 558,184 558,184 -- 3,932,875 2,713,724 1 ,219,151 ------------ ------------ ------------- ------------ ------------ ------------- 28 �ca,391 -- (28,391 ) E.623,LB _ec 3.3 504,474 1 ,127,,��27 -- -- -- (325,949) 325,949 -- -- -- � 387,493) (387,493) -- ------------ ------------ -------------- ------------ ------------ -----___°----- __ -- -_ 713,442? 087,493) 325,949 28,3 1 _ (28,391 ) (1 ,336,495) 116,981 1 ,453,476 -- ®- _® 2,089,382 2,089,382 -- ------------ ------------ -------------- ------------ d.--.-_------- ------------- . 28,391 ` -_ (28,391 ')$ 752,887 . 2,206,363 1 ,453,476 --_--_ -------------.-.-._.__..,.�__.....__._ =C617 EFH1 C'CTT - 6- MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL ALL SPECIAL REVENUE FUNDS °- CONTINUED SEPTEMBER 30, 1987 Unincorporated Area Service District Parks and Recreation --------------------------------------- Variance Favorable Budget Actual (Unfavorable) -_-_-____-®_ ____________ _____________ REVENUES TAXES 417,136 394,209 (22,927) LICENSES & PERMIT'ti __ -- INTERGOVERNMENTAL REVENUES -- -_ -® CHARGES FOR SERVICES 10 ,000 4,040 (5,960) FINES & FORFEITURES _- __ -- INTEREST INCOME ®- 18,451 18,451 ASSESSMENTS -_ __ -- MISCELLANEOUS REVENUES _ 49180 4 , 180 ____________ -----_------ --______---__ TOTAL REVENUES 427,136 420,880 (6,256) ------------ ------------ --.___-_------ EXPENDITURES ------------ GENERAL GOVERNMENT -- -® _- PUBLIC SAFETY TRANSPORTATION ECONOMIC ENVIRONMENT -- m- -- HUMAN SERVICES -_ -- -- CULTURE AND RECREATION 262,768 181 ,052 01 ,716 CAPITAL OUTLAY 3,231 1 ,19S 2,033 ____________ ____________ _____________ TOTAL E`.4PENDITURES 265,999 182,250 83,749 ____________ ____________ _____________ E:`=g:C:ESS OF REVENUES OVER/ (UNDER) EXPENDITURES 161 ,137 238,630 77,493 ------------ ------------ -__________.__ OTHER FIt•ANC:ING SOURCES (USES) ------------------------------ RESERVE FOR CONTINGENCIES (52,819) ®- 52,819 TRANSFERS FROM INNER FUNDS - -- -- TRANSFERS TO OTHER FUNDS (06,960) (86,960) PROCEEDS FROM Try=C ANTIC:IPATION NOTE -- -®------------ ____________ _____________ TOTAL OTHER FINANCING ------------ __®_________ _____________ EXCESS OF REVENUES AND OTHER SOURCES OVER/(UNDER) EXPENDITURES & OTHER USES 21 ,358 151 ,670 130 ,312 FUND BALANCE, OCTOBER 1 , 1906 -- __ __ ____________ ________®___ ------------- FE ND AN , SEPTEMBER 30 , 1987 21 ,358 151 ,670 � 130 ,312 -57- Imp-act Fees, Impact Fees, Roadways Parks --------------------------------------- ----------------------------.-_--_-._---- Var°i.---(nce Variance Favorable Favorable Budget. Actual (Unfavorable) Budget Actual (Unfavorable) 7,012 7,012 566 566 _ 638,492 638,492 _- 51 ,1161 51 ,061 ------------ ------------ ------------- ------------ ------------ ------------- - 645,504 645,504 __ 51 ,627 51 ,627 ------------ ------------ ------------- ------------ ------------ --_----_--._-- ------------ ------------ ------------- ------------ ------------ --------_---- _ 645,504 645,504 - 51 ,627 51 ,627 ------------ ------------ ------------- ------------ ------------ ------------- ----------- ------------ ------------- ------------ ------------ ----.___--_--_ -- 645,504 645,504 -- 51 ,627 51 ,627 ------------ ------------ -_..m__--_--._-- -.__----.----- ------------ _,-----------..... -- 645,504 ' 645 e 504 -- 51 ,627 . 51 ,627 -58- MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES` EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - ALL SPECIAL REVENUE FUNDS - CONTINUED SEPTEMBER 30 , 1987 Impact Fees, Libraries --------------------------------------- Variance Favorable Budget Actual (Unfavorable) ____________ ____________ _____________ REVBWUES TAXES $ -- $ -- � -- LICENSES & PERMITS -- --INTERGOVERNMENTAL REVENUES REVENUES -- -- -- CHARGES FOR SERVICES -- -- -- FINES & FORFEITURES -- -- -- INTEREST INCOME -- 840 840 ASSESSMENTS -- 75r620 75,620 MISCELLANEOUS REVENUES -- -- -- ------------ ------------ ------------- TOTAL REVENUES -- 76,460 76,460 ____________ ____________ _____________ EXPENDITURES ------------ GENERAL GOVERNMENT -- --PUBLIC SAFETY SAFETY -- --TRANSPORTATION ECONOMIC -- -- -- ECQN8MlC ENVIRONMENT -- -- -- HUMAN SERVICES -- -- -- CULTURE AND RECREATION -- --CAPITAL OUTLAY OUTLAY -- -- -- ____________ ------------____________ _____________ TOTAL EXPENDITURES -- -- -- ____________ ------------____________ _____________ EXCES8 OF REVENUES OVER/ (UNDER) EXPENDITURES -- 76`460 76,460 ____________ ____________ _____________ OTHER FINANCING SOURCES (USES) ------------------------------ RESERVE FOR CONTINGENCIES -- -- -- TRANSFERS FROM OTHER FUNDS -- -- -- TRANSFERS TO OTHER FUNDS -- -- -- PROCEEDS FROM TAX ANTICIPATION NOTE -- -- -- ____________ ------------____________ _____________ TOTAL OTHER FINANCING SOURCES/(USES) -- -- -- ____________ ------------____________ _____________ EXCESS OF REVENUES AND OTHER SOURCES OVER/(UNDER) EXPENDITURES & OTHER USES -- 76,460 76,460 FUND BALANCE` OCTO8ER 1 , 1986 -- -- -- ------------ ____________ _____________ FUND BALANCE` SEpTEMBER 30 ` 1907 $ -- $ 76,460 $ 76,460 -59- Impact Fees, Impact Fees, Solid Waste Police Facilities _______________________________________ .®__---__________-_----_-__---_--___--__ Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) -- ------------- 363 33 -_ 518 518 -_ 29, 169 29,169 _- 45,283 45,283 ®_ 29,532 29,532 45,801 45,801 ------------ ------------ ------------- ------------ ------------ ------------- ------------ ------------ ------------- ------------ ------------ ------------- ------------ ------------ ------------- ------------ ------------ ------------- -- 29,532 29,532 -- 45,801 45,801 ------------ ------------ ------------- ------------ ------------ ------------- 0 29,532 29,532 -- 45,801 45,801 ------------ ---m--------- ------------- ------------ ------------ ------------- . 0 ° 29,532 ° 29,532 $ 45.,801 . 45,801 (Continued) -60- MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - ALL SPECIAL REVENUE FUNDS - CONTINUED SEPTEMBER 30 , 1987 Sheriff Safety Seat Program --------------------------------------- Variance Favorable Budget Actual (Unfavorable) ------------ ------------ ------------- REVENUES TAXES $ -- $ -- $ -- LICENSES PERMITS -- -- -- INTERGOVERNMENTAL REVENUES -- -- CHARGES FOR SERVICES 4,587 4,587 -- FINES & FORFEITURES -- -- INTEREST INCOME -- -- -- ASSESSMENTS -- -- -- MISCELLANEOUS REVENUES -- -- -- TOTAL REVENUES 4,587 4,587 -- ------------ ------------ ------------- EXPENDITURES ------------ GENERAL GOVERNMENT -- -- -- PUBLIC: SAFETY 5,416 5,416 -- TRANSPORTATION -- -- ECONOMIC ENVIRONMENT -- -- -- HUMAN SERVICES -- -- -- CULTURE AND RECREATION -- -- -- CAPITAL OUTLAY -- -- -- ------------ ------------ ------------- TOTAL EXPENDITURES 5,416 5,416 -- EXCESS OF REVENUES OVER/ (UNDER) EXPENDITURES (829) (829) -- OTHER FINANCING SOURCES (USES) ------------------------------ RESERVE FOR CONTINGENCIES -- -- -- TRANSFERS FROM OTHER FUNDS -- -- -- TRANSFERS TO OTHER FUNDS -- -- -- PROCEEDS FROM TAX ANTICIPATION NOTE -- -- -- ------------ ------------ ------------- TOTAL OTHER FINANCING SOURCES (USES) -- -- -- ------------ ------------ ------------- EXCESS OF REVENUES AND OTHER SOURCES OVER..f(UNDER) EXPENDITURES & OTHER USES (829) (829) -- FUND BALANCE, OCTOBER 1 , 1986 6,971 6,971 -- ------------ ------------ ------------- FUND BALANCE, SEPTEMBER 30 , 1987 $ 6, 142 $ 6,142 -- -61- _`rtal --------------------------------------- W r 3 a n c Favorable Budget actual (Uniavorabl ) ------------ ------------ ------------- 20 ,435,969 19,076,864 . (559, 105) 881 ,261 1 ,346,216 464,955 3,207,664 2,615,282 592,302,E 05,587 109,000 24,213 911 ,000 1 ,349,317 433,317 346,861 937,078 590 ,217 209500 066,653 838,153 6,500 39,337 33,037 25,9€ 3,342 27,140,547 1 ,237,205 ------------ ------------ ------------- ,396,863 1 ,590,789 806,074 4,501 ,900 3, 176,240 1 ,405,660 6,06 51`u0 2,951 ,371 3,9109759 4,077,065 2,689,329 1 ,380,536 558, 184 558,184 -- 939,750 396,096 543,62 1 , 154,052 6S0,859 465,193 20 ,570 ,752 1°2,0 f,868 0,5 9,S .p _®.. ----._--- ------------ ®------_----- 5,332,590 15,009,679 9,757,089 (867 , 166) -- 867, 166 70 ,329 44,357 (25,972) (13, 1731430) (12,684,784) 493,646 164,993 -- t164,993) ------------ ------------ ------------- ( 13,00 ,274) ( 12,640 ,427) 1 , 169,847 (8,47r ,684) 2,449,252 10 ,926,936 12,263, 124 12,263,124 -- 3,7 5,440 . 14,7129376 ° 10,926,936 -6 2 DEBT SERVICE FUNDS 1965 Building Certificates - To account for accurrulation of resources for and paynent of interest and principal on the long-term debt incurred in the building an acb-flinistrative office at 610 Flening Street, Key West, and improvaTents to the Key West Courthouse. _1 1 ITp!RvEment Bonds - To account for accumulation of resources for and paynent of interest and principal on fh—elong-ten-n debt incurred in the building of the Marathon, Islamorada and Key Largo Libraries, improvaDents to Harry Harris Park and improvements tot Key West Ackninistration Building located on Stock Island. MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET ALL DEBT SERVICE FUNDS SEPTEMBER 30, 1987 1965 1981 Total Building Improvement Certificates Bands ASSETS CASH AND INVESTMENTS $ -- $ 748,260 $ 748,260 CASH WITH FISCAL AGENT 111 ,136 423,111 534,247 ------------ ------------ ------------ TOTAL ASSETS $ 111 ,136 $ 1 ,171 ,371 $ 1 ,282,507 LIABILITIES AND FUND BALANCES ----------------------------- LIABILITIES: MATURED BONDS PAYABLE $ 77,050 $ 50,000 $ 127,050 MATURED INTEREST PAYABLE 18,286 373,111 391 ,397 MATURED PREMIUM PAYABLE 15,800 -- 15,800 ------------ ------------ ------------ TOTAL LIABILITIES 111 ,136 423,111 534,247 FUND BALANCES: UNRESERVED 748,260 748,260 TOTAL FUND BALANCE -- 748,260 748,260 ------------ ------------ ------------ TOTAL LIABILITIES AND FUND BALANCES $ 111 ,136 $ 1 ,171 ,371 $ 1 ,282,507 ------------ ------------ ------------ -63— � � M0NR0E COUNTY, FLORIDA ~~ COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE ALL DEBT SERVICE FUNDS SEPT 'MBER 30v 1987 —~ 1965 1981 Total Building Improvement Certificates Bonds _________ _________ _________ REVBNUES TAXES $ 167 $ -- $ 167 INTERGOVERNMENTAL REVENUES -- 223,250 223,250 INTEREST INCOME 260 45,315 45,575 MISCELLANEOUS REVENUES -- 56 56 _ ____________ ____________ ____________ TOTAL REVENUES 427 268,621 269n048 ------------ ------~----- ------------ EXPENDITURES ------------ DEBT SERVICE COST 250 209»127 209,377 ____________ ____________ ____________ TOTAL EXPENDITURES 250 209~127 209,377 ____________ ____________ ____________ EXCESS OF REVENUES OVER/ — <UNDER) EXPENDITURES 177 59°494 59,671 OTHER FINANCING SOURCES (USES) _- ------------------------------ TRANSFERS TO OTHER FUNDS (7`483) -- (7,483) ____________ ____________ ____________ TOTAL OTHER FINANCING SOURCES/(USES) (7x4DW -- (7,48W ____________ ____________ ____________ EXCESS OF REVENUES AND OTHER ` SOURCES OVER/(UNDER) EXPENDITURES & OTHER USES 0,306) 59,494 52,108 ` FUND BALANCE` DCTOBER 1 , 1906 7,306 680,766 696,072 ____________ ____________ ____________ FUND BALANCE/ GEPTEMBER 30, 1987 $ �� $ 748°260 $ 748:260 ` _ —64— MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - ALL DEBT SERVICE FUNDS SEPTEMBER 30v 1987 1965 Building Certificates --------------------------------------- Variance Favorable Budget Actual (Unfavorable) ____________ ____________ _____________ REVENUES TAXES $ 243 $ 167 $ (76) INTERGOVERNMENTAL REVENUES -- -- -- lNTERE8T INCOME 1 ,053 268 (793) MISCELLANEOUS REVENUES -- -- -- ____________ ____________ _____________ TOTAL REVENUES 1 ,296 427 (869) ------------ ------------ ------------- EXPENDITURES ------------ DEBT SERVICE COST 1 ,000 250 750 ____________ ____________ _____________ T8TAL EXPENDITURES 1 ,000 250 750 ____________ ____________ _____________ EXCESS OF REVENUES OVER/ (UNDER) EXPENDITURES 296 177 ( 119) ____________ ____________ _____________ OTHER FINANCING SOURCES (USES) ------------------------------ RESERVE FOR CONTINGENCIES -- --TRANSFERS TO TO OTHER FUNDS (7,483) (7,483) -- ____________ ------------____________ _____________ TQTAL OTHER FINANCING SOURCES/(USES) (7r483) (7,483) -- ____________ ------------____________ _____________ EXCESS OF REVENUES AND OTHER SOURCES OVER/(UNDER) EXPENDITURES & OTHER USES (7,187) (7,306) (119) FOND BALANCE` QCTOBER 1 , 1986 7,306 7,306 -- ------------ ------------ ------------- FUND BALANCE, SEPTEMBER 30, 1987 � � 19 $ -- $ ( 119) -65- 1981 Improvement Bonds Total ---------------------------------------- -____-_-_----_--_-_________--_-_-_____- ar ianc Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) ------------ ------------ ------------- -------------- ------------ ------------- $ -- $ -- $ $ 243 $ 167 (76) 223,250 223,250 223,250 223,250 40,000 45,315 5,315 41 ,053 45,575 4,522 -- 56 56 -- 56 56 ------------- ------------ ------------- ------------ ------------- ------------- 263,250 268,621 5,371 264,546 269,048 4,502 ------------ ------------ ------------- ------------ ------------ ------------- 210,129 209,127 1 ,002 211 ,129 209,377 1 ,752 ------------ ------------ ------------- ------------ ------------ ------------- 210,129 209, 127 1 ,002 211 ,129 209,377 1 ,752 ------------ ------------ ------------- ------------ ------------ ------------- 53,121 59,494 6,373 1 53,417 59,671 6,254 ------------ ------------- ------------- ------------ ------------ ------------- M9,799) 719,799 (719,799) 719,799 -- (7,483) (7,483) -- - ----------- ------------ --------------- ------------ ------------ _--_--------- (719,799:) 719,799 (727,282) (7,483) 719,799 ------------- ------------ ------------- ------------ ------------ ------------- (666,678) 59,494 726,172 (673,865) 52,188 726,053 688,766 688,766 -- 696,072 696,072 -- ------------ ------------ ------------- ------------ ------------ ------------- $ 22,088 $ 748,260 $ 726,172 $ 22,207 $ 748,260 $ 726,053 -66- CAPITAL PROJECT FUNDS Comprehensive IT2!2vaflents - To account for all major capital projects of nroe County. .Eel.West Animal Shelter - To account for imp rowments to the County's Key West Animal Shelter. MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET ALL CAPITAL PROJECT FUNDS SEPTEMBER 30 , 1987 Comprehensive Key West Total Improvements Animal Shelter --------- --------- --------------- ASSETS CASH AND INVESTMENTS $ 1 ,867,395 $ 4,458 $ 1 ,871 ,853 DUE FROM OTHER FUNDS 97,709 -- 97,709 --------------- --------------- --------------- TOTAL ASSETS $ 1 ,965,104 $ 4,458 $ 1 ,969,562 --------- -------- --------------- --------------- --------------- ------ ------- --------------- LIABILITIES AND FUND BALANCES --------------------------- LIABILITIES: ACCOUNTS PAYABLE $ 3,805 $ -- $ 3,805 CONTRACTS PAYABLE 223,142 -- 223,142 DEPOSITS HELD IN ESCROW 400 -- 400 NOTES PAYABLE 62,000 -- 62,000 --------------- --------------- --------------- TOTAL LIABILITIES 289,347 -- 289,347 --------------- --------------- --------------- FUND BALANCES: RESERVED FOR ENCUNDRANCES -- 620 620 UNRESERVED 1 ,675,757 3,836 1 ,679,595 --------------- --------------- --------------- TOTAL FUND BALANCE 1 ,675,757 4,458 1 ,680,215 --------------- --------------- --------------- TOTAL LIABILITIES AND FUND BALANCES $ 1 ,965,104 $ 4,458 $ 1 ,969,562 —67— MONR0E C:OUNT'r, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE ALL -HPITAL PROJECT FUNDS SEPTEMBER 30 , 1987 Comprehensive Key:: West Total Improvements Animal Shelter --------- --------- --------------- RE'.)ENUES INTEREST INCOME $ 144,894 $ 1 ,087 $ 145,981 r-• r• c r c c c t•1I��.•ELLHhaECill'S REVENUES .,Ci��,B:�� -- 30d�,`:9d, --------------- --------------- --------------- TOTAL REVENUES 450 ,789 1 ,087 451 ,876 --------------- --------------- -------------- EXPENDITURES ------------ DEBT SERVICE COST 2,6,090 -- 26,090 CAPITAL OUTLAY 3,296,458 21 ,815 3,318,273 --------------- --------------- --------------- TOTAL EXPENDITURES 3,322,548 21 ,815 3,344,363 --------------- --------------- --------------- EXCESS OF REVENUES OVER.: 0-INDER) EXPENDITURES (2,871 ,"59) ':2C� ,?28:i :2,89'v,48r j --------------- --------------- --------------- OTHER FINANCING SOURCES ;USES? ------------------------------ TRANSFERS FROM OTHER FUNDS 1 ,855,841 -- 1 ,855,841 TRANSFERS TO OTHER, FUNDS --------------- --------------- --------------- TOTAL OTHER FINANCING SOURCES/' USES 1 , 55,841 -- 1 ,855,841 --------------- --------------- --------------- EXCE'SS OF REVENUES AND OTHER SOURCES OVER/ UNDER) EXPENDITURES & OTHER USES {1 ,015,918? r20 ,7281 1 ,0-36,646) FUND BALANCE, OCTOBER 1 , 1986 2,691 ,675 25, 186 2,716,861 --------------- --------------- --------------- FUND BALANCE, SEF'TEhIBER :3C� , 19,3? 1 ,675,757 4,458 1E 1 ,680,215 —68— MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES` EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - ALL CAPITAL PROJECT FUNDS SEPTEMBER 30 , 1987 Capital Projects, Comprehensive Improvements --------------------------------------- Variance Favorable Budget Actual (Unfaverable) ____________ ____________ _____________ REVENUES -------- INTEREST INCOME $ 80 ,260 $ 144,894 $ 64.634 MISCELLANEOUS REVENUES 305`373 3O5,895 522 ____________ ____________ _____________ TOTAL REVENUES 385,633 450 ,789 65,156 ____________ ____________ _____________ EXPENUITURES ------------ DEBT SERVICE COST 38`534 261090 12`444 CAPITAL OUTLAY 4`154,315 3,296,458 857`857 ____________ _____________ TOTAL EXPENDITURES 4` 192,O49 3,322,548 87O ,3O1 ____________ ____________ _____________ EXCESS OF REVENUES OVER/ (UNDER) EXPENDITURES (3,8079216) (3,871 `759) 935,457 ____________ ____________ _____________ OTHER FINANCING SOURCE'S' (USES) -------------------------------- RESERVE FOR CONTINGENCIES (736`286) -- 736,286 TRANSFERS FROM OTHER FUNDS 1 `855,841 1 `855,841 -- TRANSFERS TO OTHER FUNDS -- -- ------------ ____________ _____________ TOTAL OTHER FINANCING SOURCES/-'USES') 1 ,119`555 1 `855,841 736,286 ------------ ------------ ------------- EXCESS OF REVENUES AND OTHER SOURCES OVER/(UNDER) EXPENDITURES & OTHER USES (2,687,661 ) ( 1 ,0151,918} 1 ,671 ,743 FUND BALANCE` OCTOBER 1 , 1986 2`691 `675 2`691 ,675 -- ____________ ------------____________ _____________ FUND BALANCE, SEPTEMBER 30 / 1987 $ 4,014 $ 1 ,675,757 $ 1 ,671 ,743 ============ ============ ============= -69- Capital Projects, Key West Animal Shelter Total --------------------------------------- ___________-___-___-______________-____ Variance Variance Favorable Favorable _~ Budget Actual (Unfavorable) Budget Actual (Unfavorable) ____________ ____________ _____________ ____________ ____________ -------------- $ 1 ,087 $ 1 ,087 $ 80 `260 $ 145^981 $ 65,721 -- -- -- 305,373 385,895 522 ____________ ____________ ------------- ____________ ------------ _____________ -- -- 1 ,U87 1 /087 385/633 451 ,876 66,243 ____________ ____________ _____________ ____________ ____________ _____________ � -- -- 38,534 26,090 12,444 25,186 21 ,815 3`371 4,179,501 3,318,273 861 ,228 ____________ ____________ _____________ ____________ ____________ _____________ -- 25, 186 21 /815 3,371 4,218°035 3,344,363 873,672 ____________ ____________ _____________ ____________ ____________ _____________ -- (25,1B6) (20 ,728) 4,458 (3,832`402) (2,892,467) 939,915 ____________ ____________ _____________ ____________ ____________ _____________ _ -- -- -- (736,286) -- 736`286 -- -- -- 1 ,855,841 1 ,855,841 -- -- -- -- -- -- -- ____---___-_ ------------ ------------- ------------ ------------ _-_---_-__--- -- -- -- 1 ,119,555 1 ,855`841 736,286 -_ ------------ ------------ ------------- ------------ ------------ _-_---_-_---_ (25, 186) (20`728) 4,458 (2`712,847) (1 ,036r646) 1 ,676,201 25, 186 25,186 -- 2,716,861 2`716,861 -- ------------ ____________ _____________ ____________ ____________ _____________ 4,458 $ 4`458 $ 4/014 $ 1 ,680,215 $ 1 ,676,201 ' -� -70- | | ENTERPRISE R)NDS nLn icil Service District, Waste ® To account for the operations oft County's Solid Waste Services. Card Sound �3 ride - To account for the operations oft County's Card Sound Toll Bridge. MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET ALL ENTERPRISE FUNDS SET EMBER 30 , 1987 Municipal Card Total Service Sound District Bridge Waste --------- --------- ------------ ASSETS CASH & INVESTMENTS $ 4,942,220 $ 648,397 $ 5,590,617 CASH WITH FISCAL AGENT 1 ,269,436 1 ,056, 116 2,325,552 RECEIVABLES: DELINQUENT WASTE COLLECTION FEES 1 ,207,410 -- 1 ,207,410 ALLOWANCE FOR NCOLLECTIBLE WASTE COLLECTION FEES (662,715) -- (662,715) ACCOUNTS 66,111 2,756 68,867 DUE FROM OTHER GOVERNMENTS 147,957 3,431 151 ,388 RESTRICTED ASSETS: CASH 40,919 -- 40,919 INVESTMENTS AT COST OR AMORTIZED COST 2,489,267 2,489,267 ACCRUED INTEREST RECEIVABLE 12,233 -- 12,233 PROPERTY, NET OF ACCUMULATED DEPRECIATION 6,540,851 1 ,503,504 8,044,355 UNAMORTI ZED DEBT EXPENSE 400 ,129 -- ------------ ------------ ------------TOTAL ASSETS $ 16,453,818 $ 3,214,204 $ 19,668,022 —71— MQNRDE COUNTY, FLORIDA COMBINING BALANCE SHEET ALL ENTERPRISE FUNDS - CONTINUED SEPTEMBER 30, 1987 -� Municipal Card Total Service Sound District Bridge -- Waste _________ _________ ____________ LIABILITIES AND FUND EQUITY --------------------------- LIABILITIES: ACCOUNTS PAYABLE $ 631 ,235 $ 5n041 $ 636,276 - CONTRACTS PAYABLE 76°611 2`306 78,917 ACCRUED LIABILITIES 146,901 12,515 159,316 DEPOSITS HELD IN ESCROW -- 50 50 PAYABLE FROM RESTRICTED ASSETS: CONTRACTS PAYABLE 185,758 -- 185,758 ACCRUED INTEREST 306/052 -- 306,852 REVENUE BONDS 9,021 `548 -- 9,021 ,548 DUE TO OTHER FUNDS 71 ,628 3, 116 74,744 MATURED BONDS PAYABLE 430 '080 325,000 755,008 MATURED INTEREST PAYABLE 839,436 716,979 1 ,556`415 MATURED PREMIUM PAYABLE -- 14` 138 14,138 OTHER LIABILITIES -- 14 14 ____________ ____________ ____________ TOTAL LIABILITIES 11 ,709,869 1 `079, 159 12,788,228 ____________ ____________ ____________ FUND EQUITY: CONTRIBUTED CAPITAL 2,805,649 29761 2,888,410 - RETAINED EARNINGS: RESERVED FOR OPERATIONS -- 28 ,211 20 ,211 RESERVED FOR REVENUE BOND -` RETIREMENT 2,050 ,609 -- 2,050 ,609 UNRESERVED ( 111 ,509) 2`112'073 2`000 `564 ------------ ------------ ------------ TOTAL FUND EQUITY 4,744,749 2,135`045 6,879,794 ____________ ____________ ____________ TOTAL LIABILITIES AND FUND EQUITY $ 16,453,818 $ 3,214,204 � 19,668/022 -72- _] | MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS ALL ENTERPRISE FUNDS SEPTBMBER 30 , 1987 Municipal Card Total Service Sound District Bridge Waste _________ _________ ____________ OPERATING REVENUES ------------------ TOLLS $ -- $ 001 .439 $ 801 ,439 CHARGES FOR SERVICES 786,556 -- 786`556 FRANCHISE FEES 648,468 -- 648,468 ASSESSMENTS 4,976,789 -- 4`976`789 MISCELLANEOUS 1 `583 -- 11583 ____________ ____________ ____________ TQTAL OPERATING REVENUE 6,413,396 801 ,439 7,214,835 ____________ ____________ ____________ OPERATING EXPENSES ------------------- PERSOWAL SERVICES 1 ,664,357 167`714 1 ,832,071 PROFESSIONAL SERVICES 2,670 ,901 14/745 2,685,646 DEPRECIATION EXPENSE 859`781 46,222 906,003 REPAIRS AND MAINTENANCE 357,020 275,126 632. 146 ASSERTED AND PAID CLAIMS -- -- -- OTHER OPERATING EXPENSES 444,448 29,710 4745158 ____________ ____________ ____________ TOTAL OPERATING EXPENSES 5,996°507 533/517 6,5309024 ____________ ____________ ____________ OPERATING INCOME OR (LOSS) 416,889 267`922 684,811 NON-OPERATING REVENUES (EXPENSES) --------------------------------- TAXES 8809474 -- 800 `474 OPERATING GRANTS 291 ,284 -- 291 ,284 INTEREST INCOME 451 ,658 25,158 476,816 INTEREST EXPENSES AND FISCAL CHARGES (787,553) ( 15`541 ) (803`094) ____________ ____________ ____________ TOTAL NON-OPERATING REVENUES (EXPENSES) 755,863 9,617 765,480 ____________ ____________ ------------ NET INCOME (LOSS) 1 ,172,752 277,539 1 .450 /291 RETAINED EARNINGS - OCTOBER 1 , 1986 3,5719997 1 ,857`506 5,429'503 ------------ ------------ ------------ RETAINED EARNINGS - SEPTEMBER 38 , 1987 4,744,749 $ 2,135,045 $ 6`879,794 ============ ============ ============ -73- MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION ALL ENTERPRISE FUNDS SEPTEMBER 30, 1957 Municipal Card Total Service Sound District Bridge Olt SOURCES OF WORKING CAPITAL -------------------------- OPERATIONS: NET INCOME (LOSS) S 1 ,172,752 277,539 1 ,450,291 ITEMS NOT REQUIRING WORKING CAPITAL: DEPRECIATION AND DEPLETION 859,781 46,222 906,003 AMORTIZATION OF BOND DISCOUNTS 26,534 1 ,943 28,477 AMORTIZATION OF CAPITAL APPRECIATION ON 1955 REFUNDING IMPROVEMENT BONDS 141 ,140 -- 141 ,140 WORKI6G CAPITAL PROVIDED {USED) BY OPERATIONS 2,200,207 325,704 2,525,911 DECREASE "INCREASE) IN RESTRICTED ASSETS (1 ,358,554) ®- (1 ,358,554) TOTAL SOURCES OF WORKINGCAPITAL 541 ,6 325,704 1 ,167,357 USES OF WORKING CAPITAL ------------------------ DEGREASE (INCREASE) IN LIABILITTIES PAYABLE FROM RESTRICTED ASSETS CURRENT PORTION OF LONG-TERM DEBT 150,000 $ 150,000 ACCOUNTS PAYABLE (128,398) -- (128,398) CONTACTS PAYABLE 5,517 5,517 ACCRUED INTEREST 11 ,226 1 ,075 12,.304 REVENUE BONDS 225,000 225,000 MATURED PRINCIPAL <430,000) 180,000 <250,000) MATURED INTEREST <626,755) 6,61 (620,143) MATURED PREMIUM -® 4, 00 4, 00 TOTAL DECREASE (INCREASE) IN LIABILITIES PAYABLE FROM RESTRICTED ASSETS (1 ,023,927) 425,707 (590,220) RETIREMENT OF LONG-TERM DEBT AND PORTIONS BECOMING CURRENT 280 ,000 280 ,000 INCREASE (DECREASE) IN RESTRICTED ASSETS -- (741 ,520) (741 ,520) ADDITIONS TO PROPERTY, PLANT AND EQUIPMENT 676,647 9,975 686,622 INCREASE INWORKING CAPITAL 908,933 631 ,542 1 ,540,475 TOTAL, USES CIF WORKING CAPITAL 541 ,65 25,704 1 ,167,357 -74- MDNROE COUNTY, FLORIDA COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION ALL ENTERPRISE FUNDS - CONTINUED SEPTEMBER 30, 1987 Municipal Card Total Service Sound District Bridge Waste _________ _________ ____________ INCREASE (DECREASE) IN COMPONENTS OF WORKING CAPITAL --------------------------------- CASH & INVESTMENTS $ 847,804 $ 609,902 $ 1 ,457,706 DUE FROM OTHER GOVERNMENTS 143,526 -- 143,526 ACCOUNTS RECEIVABLE 66,848 (850) 65,998 ACCOUNTS PAYABLE (447,330) 24,779 (422,551 ) OTHER CURRENT LIABILITIES 298,085 (2,289) 295,796 ____________ ____________ ____________ INCREASE (DECREASE) IN WORKING CAPITAL $ 908,933 $ 631 ,542 $ 1 `548 ,475 -75- MONROE COUNTY, FLORID MUNICIPAL SERVICE DISTRICT - WASTE REVENUE BOND ISSUES - DESCRIPTION S PT MBER 30 , 1987 Refunding Improvement Bonds Totals Series 1985 ------------- ------------------------------------------------ Current Capital Interest Appreciation Bond. Bonds ----------------------- ----------------------- Original authorization $10,000 ,000 $8,498,226 $1 ,501 ,774 Unissued 788,226 788,226 ------------- ----------------------- ------------------------ Issued 9,211 ,774 7,710 ,000 1 ,501 ,774 Capital appreciation through Sept 30, 1987 239,774 - 239,774 Retirements through September 30 , 1987 430 ,000 430 ,000 -� Balance outstanding September 30 , 1987 $9,021 ,548 $7,280,000 $1 ,741 ,548 Date of issue December 30, 1985 December CEO , 1985 Maturity range 1986-2011 1986-2011 Principal payment date October I October 1 Interest payment dates April-October April-October Denominations 5,000 5,000 Interest rates 5.2 % Maturities-1986 8.00'' Maturities-1993 5.75'{ Maturities-1987 8.20% Maturities-1994 6.25% Maturities-1988 8.40% Maturities•-1995 6.7 % Maturities-1989 8.60'{ Maturities-1996 7.00'' Maturities-1990 8.80% Maturities-1997 7.20.E Maturities--1' 91 8.90°n M tur°ities-1998 7.40% Maturities--1992 9.00'® Maturities-1999 9,00% Maturities-2005 9. 10% Maturities-2000 9.10% Maturities-2011 9.204 Maturities-2001 Average interest cost rate 8.31% N/ N/ Call feature 1993-1994 102 1995-1996 105 1994-1995 11 .5 1996-1997 104 1995-1996 101 1997-1998 103 199 -1997 100 .5 1998-1999 102 1997-Maturity 100 1999-2000 101 2000-Maturity 100 Paying agent Barnett Bank. Trust Co. , Barnett Banks Trust Co. , N.A. N.A. Jacksonville, Florida Jacksonville, Florida -76- MONR0E COUNTY, FLORIDA MUNICIPAL SERVICE DISTRICT - WASTE SCHEDULE OF DEBT SERVICE REQUIREMENTS SEPTEMBER 38 , 1987 $9,211 ,774 Refunding Improvement Bonds - Series 1985 Year ____________________________________________ Emding Original Capital Interest Total Sept . 30 Principal Appreciation Debt Service -------- -------------- -------------- ______________ _-_____-_______ 1986 $-- $-- $212,681 $212,681 1987 430,000 -- 626,755 1 ,056x755 1988 280 ,000 -- 687°418 887,418 1989 300 ,000 -- 589,993 889,993 1990 315,000 -- 569,986 884,986 1991 335,000 -- 547,630 882,638 1992 355,080 -- 523,125 878,125 1993 385,000 -- 496,100 881 ,100 1994 225,909 189,891 481 ,855 896,855 1995 205°379 209,621 481 ,855 896,855 1996 186v083 228,997 481 ,855 896,855 1997 167,814 247,186 481 /855 896,855 1998 150°820 264,172 481 ,855 896,855 1999 136,701 278,299 481 ,855 896/855 2880 125,152 294,848 481 ,855 901 ,855 2001 111 ,652 383,340 481 ,855 896,855 2082 101 ,833 318,167 481 ,855 901 ,855 2003 98 ,503 324,497 481 ,855 896,855 2084 415,000 -- 463,188 878,180 2005 450 ,000 -- 424,255 874,255 2006 498 ,000 -- 381 ,955 671v955 2807 530 `008 -- 335,790 865,790 2008 575,000 -- 285~513 860 `513 2009 625,000 -- 230 ,913 855,913 2018 680 `000 -- 171 ,535 851 `535 2011 740 ,008 -- 106`925 846,925 2012 805,000 -- 36,628 841 ,628 ______________ ______________ ______________ _______________ $9,211v774 $2,650,226 $11 ,428,982 $23,298,932 -77- INTERNAL SERVICE FUNDS Workmen's Compensation To account for departmental and agency revenues used for the purpose of financing Monroe County' s Workmen' s Compensation Program® .q u Insurance ® To account for departmental and agency revenues used for� the purpose of financing Monroe County' s Group Insurance Program. MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET ALL INTERNAL SERVICE FUNDS SEPTM ER 30 , 1987 Workmen's Group Total Compensation Insurance --------- --------- ------------ ASS T CASH & INVESTMENTS 507,657 347,786 855,443 RECEIVABLES: ACCOUNTS 158,662 216,441 375,103 PROPERTY, NET OF ACCUMULATED DEPRECIATION 12,88 2,924 15,752 ------------ ------------ ------------ TOTAL ASSETS 679,147 567,151 $ 1 ,246, 98 LIABILITIES AND FUND EQUITY --------------------------- LIABILITIES: ACCOUNTS PAYABLE 31 ,367 31 , 70 CLAIMS PAYABLE 454,695 443,556 898,251 ACCRUED LIABILITIES 3,234 2,136 5,370 DUE TO OTHER, FUNDS 8,022 653 8,675 DEFERRED REVENUES 234 234 OTHER LIABILITIES 2,378 2,378 ------------ ------------ ------------ TOTAL LIABILITIES 497,318 448,960 946,278 ------------ ------------ ------------ FUNDEQUITY: RETAINED EARNINGS: RESERVED 181 ,829 118,191 300,020 ------------ ------------ ------------ TOTAL FUND EQUITY 181 ,829 118,191 300 ,020 ------------ ------------ ------------ TOTAL LIABILITIES AND FUND EQUITY 679,147 567,151 1 ,246,298 —78— MONROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS ALL INTERNAL SERVICE FUNDS SEPTEMBER 30, 1987 Workmen's Group Total Compensation Insurance --------- --------- ------------ OPERATING REVENUES ------------------ CHARGES FOR SERVICES 702,420 1 , 70,308 2,62,728 ------------ ,_----------- ------------ TOTAL OPERATING REVENUE 702,420 1 ,970,308 2,672,728 OPERATING EXPENSES ------------------- PERS JAL SERVICES 56,031 32,280 88,311 PROFESSIONAL SERVICES 25,863 55,556 81 ,419 DEPRECIATION EXPENSE 403 128 531 ASSERTED AND PAID CLAIMS 41 ,345 1 ,764,214 2,205,559 OTHER OPERATING EXPENSES 12,977 4, 76 17,753 ------------ ------------ ------------ TOTAL OPERATING EXPENSES 56,619 1 ,856,94 2,393,573 OPERATING INCOME OR (LOSS) 165,801 113,354 279,155 NON-OPERATING REVENUES (EXPENSES) -a-------------------------------- INTEREST INCOME 16,028 4,837 20,865 ------------- ------------ ------------ TOTAL NON--OPERATING REVENUES (EXPENSES) 16,028 4,837 20,86 ------------ ------------ ------------ NET INCOME (LOSS) 181 ,829 118,191 300,00 RETAINED EARNNINGS - OCTOBER 1 , 1986 -- -- -- ------------ ------------- -___-------- RETAINED EARNINGS - SPTEMBER 30 , 1987 181 ,829 ° 118,191 300 ,020 -79- MON OE COUNTY, FLORIDA COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION ALL INTERNAL SERVICE FUNDS SEPT BR 30 , 1987 Workmen's Group Total Compensation Insurance SOURCES OF WORKING CAPITAL -------------------------- OPERATIONS: NET INCOME (LOSS) 181 ,829 $ 118,191 $ 300,020 ITEMS NOT REQUIRING WORKING CAPITAL® DEPRECIATION AND DEPLETION 403 128 51 ------------ ___®_®m_m___ ___________® WORKING CAPITAL PROVIDED (USED) BY OPERATIONS 182,232 118,319 300,551 DEGREASE IN WORKING CAPITAL (169,001) (115,26) (284,267) ------------ ____________ m®__________ TOTAL SOURCES OF WORKING CAPITAL 13,231 3,053 16,284 USES OF WORKING CAPITAL ----------------------- ADDITIONS TO PROPERTY, PLANT AND EQUIPMENT 13,231 ,053 16,284 ®_®_®___®a_® ------------ ------------ TOTAL USES OF WORKING CAPITAL 13, 31 3,053 16,284 INCREASE (DEGREASE) IN COMPONENTS OF WORKING CAPITAL --------------------------------- CASH & INVESTMENTS $ 111 ,032 155,053 266,085 ACCOUNTS RECEIVABLE 158,540 61 , 38 220,078 ACCOUNTS PAYABLE (98,941) (99,501 ) (198,442) OTHER CURRENT LIABILITIES (1 ,630) (1 ,84) (3,454) ------------ _d®______®_m ------------ INCREASE (DECREASE) IN WORKING CAPITAL 169,001 115,266 . 284,267 —80— FIDUCIARY FUNDS Inmate Welfare - To account for funds of the inmates incarcerated in the Monroe County Jail for the use to purchase it from the canteen. Deferred C nsation Plan - To account for contributions from employees of the sheriff's department fort sheri ff's deferred compensation plan. The following are the remaining fiduciary funds: Clerk General AgtncZ Sheriff General Aqtncy jaq and License Pry rt Tax MONROE COUNTY, FLORIDA COMBINING BALANCE SHEET ALL FIDUCIARY FUNDS SEPTEMBER 30 , 1987 EXPENDABLE TRUST FUNDS AGENCY FUNDS ------------ ----------------------------------- Inmate Deferred Clerk Sheriff Welfare Compensation General General Plan Agency Agency ------------ --------- --------- --------- ASSETS CASH AND INVESTMENTS $ 9,863 $ 89,448 $1 ,097,474 $ 458,897 RECEIVABLES: ACCOUNTS 700 -- 18,556 -- INVENTORY 3,676 -- -- -- ------------ ------------ ---------- ----------- TOTAL ASSETS $ 14,239 $ 89,448 $1 ,116,030 $ 458,897 ------------ ------------ ---------- ----------- ------------ ------------ ---------- ----------- LIABILITIES AND FUND BALANCES ----------------------------- LIABILITIES: DUE TO INDIVIDUALS $ 5,345 $ 89,448 $ 775,520 $ 418,807 DUE TO OTHER GOVERNMENTS 356 -- 340,510 40 ,090 ------------ ------------ ---------- ----------- TOTAL LIABILITIES 5,701 89,448 1 ,116,030 458,897 ------------ ------------ ---------- ----------- FUND BALANCES: RESERVED FOR TRUST FUND PURPOSES 8,538 -- -- -- ------------ ------------ ---------- ----------- TOTAL FUND BALANCE 8,538 -- -- -- ------------ ------------ ---------- ----------- TOTAL LIABILITIES AND FUND BALANCES $ 14,239 $ 89,448 $1 ,116,030 $ 458,897 ------------ ------------ ---------- ----------- ------------ ------------ ---------- ----------- —81— AGENCY FUNDS-CONTINUED ------------------------- Tag and Property License Tax Total --------- --------- --------- $ 135,687 $ 903,418 $ 2,694,787 19,256 3,676 ----------- ------------- ------------ $ 135,687 $ 903,418 $ 2,717,719 $ 3,191 $ 5,140 $ 1 ,297,451 132,496 898,278 1 ,411 ,730 ----------- ------------ ------------ 135,687 903,418 2,709,181 ----------- ------------ ------------ 8,538 ----------- ------------ ------------ 8,538 ----------- ------------ ------------ $ 135,687 $ 903,418 $ 2,717,719 -82- M8NROE COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE ALL EXPENDABLE TRUST FUNDS SEPTEMBER 30 , 1987 Inmate Welfare __________ REVENUES -------- MlSCELLANEOUS REVENUES $ 75,239 ---------- TOTAL REVENUES 75,239 ---------- EXPENDITURES ------------ PU8LIC SAFETY 73,409 ---------- TOTAL EXPENDITURES 73,409 ---------- EXCESS OF REVENUES OVER/ (UNDER) EXPENDITURES 1 ,830 ---------- FUND BALANCE, OCTOBER 1 , 1986 6,708 ---------- FUND BALANCE, SEPTEMBER 30, 1987 $ 8,538 ========== -83- MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES ALL AGENCY FUNDS SEPTEMB R 30 , 1987 Balance Balance October 1 , September 30 , 1986 Additions Deductions 187 ------- --------- --------- ®,-_._-_-_- DEFERRED COMPENSATION FLAN: ASSETS CASH AND INVESTMENTS -- 92,944 3,496 89,448 LIABILITIES DUE TO INDIVIDUALS 92,944 3,496 89,448 CLERK GENERAL AGENCY: ASSETS CASH AND INVESTMENTS 807,242 $ 10,498,594 10,208,362 1 ,097,474 ACCOUNTS RECEIVABLE 13,870 54,804 50,118 18,556 ----------- ------------ ------------ -------------- TOTAL ASSETS 821 ,112 10 ,553,398 10,258,480 1 ,116,030 LIABILITIES DUE TO INDIVIDUALS 426,674 1 ,134,153 ° 785,307 ° 75,520 DUE TO OTHER GOVERNMENTS 394,438 9,419,245 9,473,173 340,510 ----------- ------------ ------------- ------------- TOTAL LIABILITIES 821 ,112 10, 5 ,398 10,28,480 1 ,116,030 SHERIFF GENERAL AGENCY: ASSETS CASH AND IrkVESTMENTS 399,390 1 ,199,463 ° 1 ,139,956 458,897 LIABILITIES DUE TO INDIVIDUALS 365,238 1 ,127,803 1 ,074,234 418,807 DUE TO OTHER GOVERNMENTS 34,152 71 ,660 65,722 40 ,090 ----------- ------------ ------------ ------------- TOTAL LIABILITIES 399,390 1 ,199,463 . 1 , 13 ,956 . 458,897 -84- MONROE COUNT`(, FLORIDA COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES ALL AGENCY FUNDS - CONTINUED SEPTEMBER 30 , 1987 Balance Balance October 1 , September 30 , 1986 Additions Deductions 1987 ------- --------- --------- --------- TAG AND LICENSES: ASSETS CASH AND INVESTMENTS $ 131 ,744 $ 3,250 ,355 $ 3,246,412 $ 135,687 ----------- ------------ ------------ ------------- ----------- ------------ ------------ ------------- LIABILITIES DUE TO INDIVIDUALS $ 3,073 $ 118 $ -- $ 3,191 DUE TO OTHER GOVERNMENTS 128,671 3,250 ,237 3,246,412 132,496 ----------- ------------ ------------ ------------- TOTAL LIABILITIES $ 131 ,744 $ 3,250 ,355 $ 3,246,412 $ 135,687 ---- ------------ ----------- ------------ ------------ ------------- ----------- -------- ------------- PROPERTY TAX: ASSETS CASH AND INVESTMENTS $ 790,623 $ 59,153,868 $ 59,041 ,073 $ 903,418 ----------- ------------ ------------ ------------- ----------- ------------ ------------ ------------- LIABILITIES DUE TO INDIVIDUALS $ 18,392 $ 3,895,252 $ 3,908,504 $ 5,140 DUE TO OTHER GOVERNMENTS 772,231 55,258,616 55,132,569 898,278 ----------- ------------ ------------ ------------- TOTAL LIABILITIES $ 790,623 $ 59,153,868 $ 59,041 ,073 $ 903,418 ----------- ------------ ------------ ------------- ----------- ------------ ------------ ------------- TOTAL ALL AGENCY FUNDS: ASSETS CASH AND INVESTMENTS $ 2,128,999 b 74,195,224 $ 73,639,299 $ 2,684,924 ACCOUNTS RECEIVABLE 13,870 54,804 50 ,118 18,556 ----------- ------------ ------------ ------------- TOTAL ASSETS $ 2,142,869 $ 74,250 ,028 $ 73,689,417 $ 2,703,480 ----------- ------------ ------------ ------------- ----------- ------------ ------------ ------------- LIABILITIES DUE TO INDIVIDUALS $ 813,377 $ 6,250 ,270 $ 5,771 ,541 $ 1 ,292,106 DUE TO OTHER GOVERNMENTS 1 ,329,492 67,999,758 67,917,876 1 ,411 ,374 ----------- ------------ ------------ ------------- TOTAL LIABILITIES $ 2,142,869 $ 74,250,028 $ 73,689,417 $ 2,703,480 ----------- ------------ ------------ ------------- ----------- ------------ ------------ ------------- -85- ACCOUNT GROUPS �ru Fixed Assets Account ETu y - As self-balancing group of accounts to account for the fixed assets of the Monroe County Governmental Unit which are not used in the proprietary fund operations. General Lon to Debt Lcount y ETu - A sel f-bal anc i ng group of accounts for bonded debt and other forns of long-term debt supported by general revenue sources of the Monroe County Goverruiental Unit. MONROE COUNTY, FLORIDA SCHEDULE OF GENERAL FIXED ASSETS BY SOURCE SEPTEMBER 30, 1987 GENERAL FIXED ASSETS: LAND $ 6,767v600 ____________ BUlLDINGS 18,658,590 ____________ EQUIPMENT: BOARD OF COUNTY COMMISSIONERS 9,742,101 SHERIFF 4,655,191 ____________ TQTAL EQUIPMENT 14,397,292 ------------ CONSTRUCTION IN PROGRESS 151 ,775 ____________ TQTAL GENERAL FIXED ASSETS $ 39,975,257 ============ INVESTMENT IN GENERAL FIXED ASSETS: GENERAL FUND REVENUES $ 21 ,948,898 GENERAL OBLIGATION BONDS 2,469`017 SPECIAL REVENUE FUND REVENUES 5,243,927 DONATIONS 2,450 ,641 CAPITAL PROJECT FUND: SPECIAL REVENUE BONDS 1 ^210 ,451 FEDERAL GRANTS AND SHARED REVENUES 1 ,250,000 STATE GRANTS AND SHARED REVENUES 110 ,023 COUNTY FUNDING 5,281 ,392 DONATIONS 10,908 ____________ TOTAL INVESTMENT IN GENERAL FIXED ASSETS $ 39,975,257 -86- ~- MQNROE COUNTY, FLORIDA SCHEDULE OF GENERAL FIXED ASSETS BY FUNCTION AND ACTIVITY SEPTEMBER 30, 1987 � Construction Land Buildings Equipment in Progress Total -_ ---------- ___________ ___________ ---------- ___--___--_ GENERAL GOVERNMENT: LEGISLATIVE $ $ -- $ 59,633 $ -- $ 59,633 -_ EXECUTIVE -- -- 76,443 -- 76,443 FINANCIAL AND ADMINISTRATIVE 122,320 1 ,476`659 876,641 2,475,620 LEGAL COUNSEL -- -- 83,747 63,747 COMPREHENSIVE PLANNING 13,985 235r201 -- 249,186 '-- JUDICIAL -- 59,054 640 ,556 699,610 OTHER GENERAL GOVERNMENT 6'645,280 4,892,509 790 ,207 -- 12'327,996 __________ ___________ ___________ __________ ___________ -- T0TAL GENERAL GOVERNMENT 6,767,680 6v442,207 2,742,428 15,952,235 __________ ___________ ___________ __________ ___________ PUBLIC SAFETY: LAW ENFORCEMENT 28,668 4r655,191 4,683,859 FIRE CONTROL -- 177,078 2v462'469 -- 2,639,547 -- DETENTION AND/OR CORRECTION -- 4,605,819 -- -- 4`605,819 PROTECTIVE INSPECTIONS 14,808 83,887 -- 98`695 EMERGENCY AND DISASTER -' RELIEF SERVICES -- 15903 488,226 -- 410,129 AMBULANCE AND RESCUE SERVICES ~- 6°415 899v072 905,487 MEDICAL EXAMINER -- -~ 12,521 -- 12`521 __________ ___________ ___________ __________ ___________ _ TOTAL PUBLIC SAFETY -- 4,834,691 8,521 ,366 -- 13,356,057 __________ ___________ ___________ ---------- ______-____ _ PHYSICAL ENVIRONMENT: CONSERVATION AND ' . RESOURCE MANAGEMENT 70v538 18,126 -- 88,664 __________ ___________ ___________ __________ ___________ TOTAL PHYSICAL ENVIRONMENT -- 70,538 18,126 -- 88,664 ` __________ ___________ ------------ ---------- ----------- (Continued) - � -87- | MONROE COUNTY, FLORIDA SCHEDULE OF GENERAL FIXED ASSETS 8Y FUNCTION AND ACTIVITY - CONTINUED SEPTEMBER 30, 1987 Construction Land Buildings Equipment in Progress Total ---------- ----------- ----------- ---------- ----------- TRANSPORTATION: ROAD AND STREET FACILITIES -® 17,362 1 ,776,766 -- 1 ,794, 128 AIRPORTS 4,344,484 37,272 -- 4,381 ,756 ---------- ----------- ----------- ---------- ----------- TOTAL TRANSPORTATION ®® 4,361 ,846 1 ,814,038 -- 6,175,884 ---------- ----------- ----------- ---------- ----------- ECONOMIC ENVIRONMENT EMPLOYMENT OPPORTUNITY AND DEVELOPMENT ®® -- 595 595 VETERAN'S SERVICES ®- -- 17,827 -- 17,827 OTHER ECONOMIC DEVELOPMENT -- -- 10,219 -- 10,219 ---------- ----------- ----------- ----------- ----------- TOT L ECONOMIC ENVIRONMENT ®® ®® 28,641 -- 28,641 ---------- ----------- ----------- ---------- ----------- HUMAN SERVICES HEALTH -- 222,167 391 ,974 -- 614, 141 WELFARE -- 386,409 456,179 -- 842,588 ---------- ----------- ----------- ---------- ----------- TOTAL HUMAN SERVICES -- 608,576 848,153 -- 1 ,456,729 ---------- ----------- ----------- ---------- ----------- CULTURE AND RECREATION: LIBRARIES ®® 1 ,410 ,668 240 ,523 -- 1 ,651 , 191 PARKS AND RECREATION -- 930,064 184,017 -- 1 ,114,081 ---------- ----------- ----------- ---------- ----------- TOTL CULTURE AND RECREATION -® 2,340,732 424,540 -- 2,765,272 ---------- ----------- ----------- ---------- ----------- CONSTRUCTION IN PROGRESS -- -- -® 151 ,775 151 ,775 ---------- ----------- ----------- ---------- ----------- TOTA L CONSTRUCTION IN PROGRESS ®® -® -- 151 ,775 151 ,775 ---------- ----------- ------------ ----------- ----------- TOTAL $6,767,600 $18,658,590 $14,397,292 151 ,775 $39,975,257 -88- MONROE COUNTY, FLORIDA SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS BY FUNCTION AND ACTIVIT`( SEPTEMBER 30 , 1987 October 1 , 1986 Additions Deductions. ------------- ------------ ------------ GENERAL GOVERNMENT: LEGISLATIVE $ 38,405 $ 21 ,359 $ 131 EXECUTIVE 45,101 31 ,604 262 FINANCIAL AND ADMINISTRATIVE 1 ,024,349 1 ,908,293 446,606 LEGAL COUNSEL 54,368 10,225 846 COMPREHENSIVE PLANNING 110 ,139 145,008 5,961 JUDICIAL 587,087 122,744 10,221 OTHER. GENERAL GOVERNMENT 12,145,955 288,887 110,893 ------------- ------------ ------------ TOTAL GENERAL GOVERNMENT 14,005,404 2,528,120 574,920 ------------- ------------ ------------ PUBLIC SAFETY: LAW ENFORCEMENT 3,658,403 1 ,394,062 368,606 FIRE CONTROL 2,410,730 231 ,507 2,690 DETENTION AND/OR CORRECTION 3,266,489 1 ,339,330 -- PROTECTIVE INSPECTIONS 52,151 41 ,159 125 EMERGENCY AND DISASTER RELIEF SERVICES 387,159 41 ,055 18,085 AMBULANCE AND RESCUE SERVICES 832,167 104,997 31 ,677 MEDICAL E:{AMINER 3,727 10,138 1 ,344 OTHER PUBLIC SAFETY 909 -- 909 ------------- ------------ ------------ TOTAL PUBLIC SAFETY 10,611 ,735 3,162,246 423,436 ------------- ------------ ------------ PHYSICAL ENVIRONMENT: CONSERVATION AND RESOURCE MANAGEMENT 89,346 1 ,147 1 ,829 ------------- ------------ ------------ TOTAL PHYSICAL ENVIRONMENT 89,346 1 ,147 1 ,829 ------------- ------------ ------------ -89- � Interdepartmental Transfers ------------ _-____-_--_- ln Out Total ------------ ------------ ------------- $ -- $ -- $ 59,633 -- -- 76,443 -- ~~ 10,416 2,475,620 -- -- 63,747 -� -- 249`186 -- -- -- 699/610 9,724 5,677 12,327,996 ------------ ------------ ------------- _ 9,724 16°093 15,952,235 ------------ ------------ ------------- _ -- -- 4,683,859 -- -- 2,639,547 -- -- -- 4,605,819 5,518 -- 98,695 -- -- 410 , 129 -- -- 905,487 _ -- -- 12,521 ____________ ____________ _____________ _ 5,510 -- 13,356,057 ------------ ------------ ------------- _ -- -- 88`664 ------------ ------------ ------------- -- -- 88,664 ------------ ------------ ------------- (Continued) - 1 -90- MONROE COUNTY, FLORIDA SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS BY FUNCTION AND ACTIVITY - CONTINUED SEPTBMBER 38 , 1987 October 1 , 1986 Additions Deductions ------------- ------------ ------------ TRANSPORTATION: ROAD AND STREET FACILITIES 1 ,584,619 237,825 14,824 AIRPORTS 4,374,708 8,270 1 ,217 ------------- -------- --- ------------ TOTAL TRANSPORTATION 5,959,322 246,095 16,041 ------------- ------------ ------------ ECONOMIC ENVIRONMENT: EMPLOYMENT OPPORTUNITY AND DEVELOPMENT 595 -- -- VETERAN'S SERVICES 14,061 4,578 1 ,167 OTHER ECONOMIC DEVELOPMENT 18 ,219 -- -- ------------- ------------ _-__--____-_ TOTAL ECONOMIC ENVIRONMENT 24^875 4,578 1 ,167 ------------- ------------ ----__-___-- HUMAN SERVICES: HEALTH 502,511 120,841 2,528 WELFARE 768,070 104,939 29,625 ------------- ------------ ------------ TOTAL HUMAN SERVICES 1 ,270,581 225,780 32,153 ------------- ------------ ----_---_--- CULTURE AND RECREATION: LIBRARIES 1 ,640,086 22,727 11 ,267 PARKS AND RECREATION 1 ,887,406 11 ,586 -- ------------- ____________ ____________ TOTAL CULTURE AND RECREATION 2,727,492 34,313 11 ,267 ------------- ------------ ------------ CONSTRUCTION IN PROGRESS -- 151 ,775 -- _____________ ------------____________ ____________ TOTAL CONSTRUCTION IN PROGRESS -- 151 ,775 -- _____________ ------------____________ ____________ TOTAL $ 34,688,755 $ 6,354,056 $ 1 ,060 ,813 ============= ============ ============ -91- � Interdepartmental Transfers -_ ------------ ------------ In Out Total ------------ ------------ __-_-_-____-- 10,061 23,553 1 ,794,128 -- -- 4,381 ,756 ~ ____________ ____________ _____________ 1O,061 23,553 6,175,884 ------------ ------------ _-_--____-_-_ -_ -- -- 595 355 -- 17,827 -- -- 10,219 ------------ ------------ ____________- � 355 -- 28,641 ------------ ------------ -_-___-____-_ -- 6,683 614,141 2,338 3,134 842,588 ____________ ____________ _____________ 2,338 9,817 1 ,456,729 -_ ------------ ------------ ------------- -- 355 1 ,651 , 191 15,089 -- 1 ,114,081 ------------ ------------ ------------- -` 15,O89 355 2,765,272 ____________ ____________ _____________ -` -- -- 151 ,775 ____________ ____________ _____________ _` -- -- 151 ,775 ____________ ____________ _____________ $ 43,077 $ 49,818 $ 39,975,257 - � -92- MONROE COUNTY, FLORIDA COMBINING STATEMENT OF GENERAL LONG-TERM DEBT AND CHANGES IN GENERAL LONG-TERM DEBT SEPTEMBER 30 , 1987 Balance Balance October 1 , September 30 , 1986 Additions Retirements 1987 ------- ------- ------- ------- AMOUNT AVAILABLE AND TO BE PROVIDED FOR THE PAYMENT OF LONG-TERM DEBT ----------------------------------- CAPITALIZED LEASE OBLIGATIONS: BOARD OF COUNTY COMMISSIONERS $ 7,140 $ -- $ 3,427 $ 3~713 PROPERTY APPRAISER 134,044 -- 47,165 86,879 SHERIFF 194,714 208,932 168,781 234,865 ------------ _________ ___________ ----------- TOTAL LEASE PURCHASE $ 335°898 $ 208,932 $ 219,373 � 325,457 ACCRUED VACATION AND COMPENSATORY TIME: VACATION $ 635`243 $ 174,613 $ -- $ 809,856 COMPENSATORY TIME -- 8,968 -- 8,968 ____________ _________ ___________ ___________ TOTAL VACATION AND COMPENSATORY TIME $ 635,243 $ 183,581 $ -- $ 818,824 OTHER LONG-TERM DEBT; 1981 IMPROVEMENT BONDS PAYABLE $ 2,080 ,000 $ -- $ 25,800 $ 2,055,000 ============ ========= =========== =========== TOTAL AMOUNT AVAILABLE AND TO BE PROVIDED $ 3,051 ,141 $ 392,513 $ 244,373 $ 3, 199,281 GENERAL LONG-TERM DEBT PAYABLE ------------------------------ AMOUNT PROVIDED $ 696,073 $ 52, 187 $ -- $ 748,260 AMOUNT TO BE PROVIDED 2,355,088 340 ,326 244,373 3,451 ,021 ____________ _________ ___________ ___________ TOTAL GENERAL LONG-TERM DEBT $ 3`051 ,141 $ 392,513 $ 244,373 $ 3,199,281 -93- MONROE COUNTY, FLORIDA REFUNDING IMPROVEMENT REVENUE BONDS - SERIES 1983 REVENUE BOND ISSUES - DESCRIPTION SE T'EMBER 30, 1957 Refunding Bands ------------------------------ Series 1953 ------------------------------ Original authorization $2,750 ,000 Unissued 595,000 ------------------------------ Issued 2,155,000 Retirements through September 30, 1987 100 ,000 ------------------------------ Balance outstanding September 30 , 1987 $2,055,000 Date of issue Jane 1 , 1983 Maturity range 1984- 011 Principal payment date July 1 Interest payment dates January - July Denominations $5,000 Interest rates 7.40.E Maturities 1934-1990 3.80% Maturities 2000 7.60% Maturities 1991 5.90X Maturities 2001 7.80% Maturities 1992 9.00% Maturities 2002 5.00% Maturities 1993 9.05.® Maturities 2003 8.20'. Maturities 1994 9.10% Maturities 2004 8.30": Maturities 1995 9.125f Maturities 2005 8.40% Futurities 1996 9. 15% Maturities. 2006-2007 3.50% Maturities 1997 9.20! Maturitie®. 2008-2009 8.6 % Maturities 1995 9.25% Maturities 010-2011 3®70.. Maturities 1999 Average interest cost rate 8.80% Call feature 1993-1994 102.5 1995-1996 102 1997-1995 101 .5 1999-2000 101 2001-Maturity 100 .5 Paying agent Florida National Bank of Miami Miami , Florida -94- M8NRQE COUNTY, FLORIDA REFUNDING IMPROVEMENT REVENUE BONDS - SERIES 1983 SCHEDULE OF DEBT SERVICE REQUIREMENTS SEPTEMBER 30 , 1987 $2, 155,000 Series 1983 Bonds Year ---------________-___________ Ending Origin.al Interest Total Sept . 30 Principal Debt Service ________ ______________ ______________ _______________ 1984 $25,000 $205,485 $230 `485 1985 25,000 187,829 212,829 1986 25,000 185,979 210 ,979 1987 25,000 184,129 209, 129 1988 30 ,300 182,279 212,279 1989 30 ,000 188 ,059 210 ,059 1990 30 `000 177`839 207,039 1991 35`000 175,619 210 ,619 1992 40 ,000 172,959 212,959 1993 45`000 169,839 214,839 1994 45`000 166,239 211 ,239 1995 50 `000 162`549 212,549 1996 55`000 158`399 213,399 1997 68 ,000 153,779 213`779 1998 65`000 148'679 213,679 1999 70 ,000 143r089 213,089 2000 75,000 136,999 211 ,999 2001 80 ,080 138 ,399 210 ,399 2002 90 ,000 123,278 213,278 2083 95`000 115`178 218, 178 2004 105,800 106,581 211 ,581 2805 115,000 97,026 213,026 2006 125/000 86,532 211 ,532 2007 135,000 75,095 210 ,095 2008 150 ,000 62`742 212/742 2089 165,000 48,942 213,942 2010 175/000 33,762 208`762 2011 190 ,000 17,575 207,575 -------------- -------------- --------------- $2`155,000 $3/788`859 $5/943,859 -95- STATISTICAL SECTION Statistical information is different from the infomation presented in the financial section in that it usually covers more than one fiscal year and may present non-accounting information. The tables present social and eco- nomic information, financial trends and the fiscal capacity of the govern- ment necessary for the complete disclosure of the County' s financial activity. The information presented in the following tables is not required for fair presentation in conformity with generally accepted accounting principals and is, therefore, not covered by the auditor' s opi- nion. MONROE COUNTY, FLORIDA GENERAL GOVERNMENT EXPENDITURES BY FUNCTION LAST TEN YEARS Fiscal General Public Physical Year Government Safety Enviromental Transportation 1978 3,864,616 3,141,267 - - 3,508,971 1979 4,020,688 3,910,825 1,606,672 1,970,161 1980 4,304,068 4,322,228 51,048 2,394,612 1981 5,210,558 5,897,627 135,736 2,232,650 1982 6,397,702 7,398,866 284,482 2,930,397 1983 7,116,903 8,659,200 680,819 4,587,694 1984 8,546,621 9,489,904 759,191 3,353,831 1985 8,731,943 12,189,855 467,548 4,056,687 1986 9,842,404 13,586,790 413,756 3,893,227 1987 10,940,172 14,177,570 210,678 3,503,429 * Includes expenditures in General, Special Revenue, Debt Service and Expendable Trust fund types. ** Capital outlay expenditures were not separately reported prior to fiscal year 1987. -96- Economic Human Culture and Debt Capital Environment Services Recreation Service Outlay * Total 1,047,846 836,316 822,441 90,768 - - 13,339,225 1,502,928 1,047,588 758,164 78,893 - - 14,895,919 925,4.10 1,455,970 850,339 74,925 - - 14,378,600 738,873 1,809,278 1,101,464 78,325 - - 17,204,511 169,938 1,927,339 1,957,121 296,098 - - 21,361,943 184,964 2,186,710 1,748,455 456,561 - - 25,621,306 175,431 2,511,116 1,228,840 522,925 - - 26,587,859 211,424 2,662,800 2,883,067 986,217 - - 32,189,541 2,275,026 3,427,255 2,466,602 211,159 - - 36,116,219 2,906,704 3,552,902 1,587,689 235,467 6,258,501 43,373,112 -97- MONROE COUNTY, FLORIDA GENERAL GOVERNMENT REVENUE BY SOURCE LAST TEN YEARS Fiscal Licenses and Charges for Year Taxes Permits Intergovernmental Services 1978 6,247,429 541,495 7,401,682 642,435 1979 7,512,509 599,523 5,774,227 545,869 1980 6,841,362 542,764 6,025,755 629,896 1981 7,362,145 797,559 5,645,057 619,229 1982 9,011,166 935,450 5,595,405 881,585 1983 12,747,535 1,562,069 8,776,845 1,179,417 1984 17,691,586 1,332,476 8,638,160 1,955,486 1985 20,353,908 1,660,046 10,159,182 1,939,203 1986 23,790,740 2,436,048 9,918,695 2,799,751 1987 25,639,643 1,516,661 9,501,798 2,649,131 * Includes revenues in General, Special Revenue, Capital Projects and Expendable Trust Fund Types. —98— Fines and Interest Forfeitures Income Assessments Miscellaneous Total 459,539 334,381 873,573 28,589 16,529,123 690,339 585,141 1,035,026 193,153 16,935,787 692,880 679,061 0 247,827 15,659,545 674,790 995,047 0 343,107 16,436,934 1,055,756 1,273,353 0 293,856 19,046,571 843,292 842,634 0 336,947 26,288,739 973,063 1,246,372 0 320,807 32,157,950 1,160,512 1,578,689 0 397,785 37,249,325 1,155,180 1,889,846 0 460,341 42,450,601 1,386,196 1,769,432 866,653 640,028 43,969,542 —9 — MONROE COUNTY, FLORIDA PROPERTY TAX LEVIES AND COLLECTIONS LAST TEN FISCAL YEARS Fiscal Tax Tax Percent of Year Levy Collection Levy Collected 1978 $ 6,652,010 $ 6,452,651 97.0% 1979 7,938,290 7,695,683 96.9% 1980 7,529,657 7,295,356 96.98% 1981 9,433,547 8,980,468 95.20% 192 10,708, 34 10,10 ,398 94.4% 1983 11,904,907 11,471,341 96.4% 1984 16,098,628 15,367,153 95.5% 1985 15,814,489 15,351,860 97.1% 1986 20,697,309 19,948,482 96.40% 1987 22,633,498 21,732,106 96.0% Property tax levies, based on assessed values as of January Ist, become due and payable on November 1st of each year. A 4 percent discount is allowed if the taxes are paid in November, with the discount declining by 1 percent each month thereafter. Accordingly, taxes collected will never be 100 percent of the tax levy. Taxes become delinquent on April 1st of each year and tax certificates for the full amount of any unpaid taxes and assessments must be sold not later than June 1st of each year. Property taxes receivable and a corresponding reserve for uncollectible property taxes are included in the financial statements. -100- MONROE COUNTY, FLORIDA ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY LAST TEN YEARS Ratio of Total Real Property Personal Property Total Assessed to Tax Assessed Estimated Assessed Estimated Assessed Estimated Total Estimated Year Value Actual Value Value Actual Value Value Actual Value Actual Value 1977 $720,878,590 $720,878,590 $77,309,370 $77,309,370 $798,187,960 $798,187,960 100 1978 1,000,141,161 1,000,141,161 83,549,627 83,549,627 1,083,690,788 1,083,690,788 100 1979 1,059,815,469 1,059,815,469 96,189,781 96,189,781 1,156,005,250 1,156,005,250 100 1980 1,411,027,844 1,411,027,B44 107,983,463 107,983,463 1,519,011,307 1,159,011,307 100 1981 1,926,529,462 1,926,529,462 137,800,260 137,800,260 2,064,329,722 2,064,329,722 100 1982 2,173,603,060 2,173,603,060 160,697,982 160,697,982 2,334,301,042 2,334,301,042 100 1983 2,622,121,321 2,622,121,321 169,044,868 169,044,868 2,791,166,189 2,791,166,189 100 1984 2,818,747,746 2,818,747,746 179,994,814 179,994, 14 2,998,742,560 2,998,742,560 100 1985 3,114,511,330 3,114,511,330 209,495,424 209,495,424 3,324,006,754 3,324,006,754 100 1986 3,425,252,146 3,425,252,146 212,232,427 212,232,427 3,637,484,573 3,637,484,573 100 1987 3,754,724,220 3,754,724,220 221,643,508 221,643,508 3,976,367,728 3,976,367,728 100 Assessed values used are net taxable values after deducting allowable statutory exemptions. Property is assessed as of January 1st and taxes based on those assessments are levied and become due on the following November 1st. —101— MONORE COUNTY, FLORIDA PROPERTY TAX RATES - ALL OVERLAPPING GOVERNMENTS LAST TEN YEARS TAX RATES (MILLAGE) School Board County Tax Year Operating Debt Service Operating Debt Service Other Total 1978 7.5167 - - 7.1929 .0969 1.1584 15.9649 1979 6.2418 - - 6.4549 .0906 1.1401 13.9274 1980 7.4802 - - 7.8649 .0917 1.0323 16.4691 1981 5.5997 - - 5.0846 .0512 .9493 11.6848 1982 5.0206 - - 4.9930 .0451 .9872 11.0369 1983 5.5573 - - 5.7268 .0382 .9087 12.231 1984 5.7637 - - 5.4748 .0351 .8811 12.1547 1985 5.7864 - - 6.1906 - - .7940 12.771 1986 5.9198 - - 6.2262 - - .7886 12.9346 1987 6.0287 - - 6.8639 - - .7637 13.6563 Property is assessed as of January 1st and the taxes based on those assessments are levied according to the tax rate in effect during that tax year and become due on November lat. -102- MONROE COUNTY, FLORIDA RATIO OF NET GENERAL BONDED DEBT TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA LAST TEN YEARS Ratio of Net Gross Bonded Debt Net Assessed Bonded Debt Service Net Bonded To Assessed Bonded Debt Year Population* Value Debt Funds Debt Value Per Capita 1978 55,793 1,083,690,788 955,000 572,910 382,090 0.0353 6.85 1979 56,509 1,156,005,250 915,000 650,644 264,356 0.0229 4.68 1980 63,188 1,159,011,307 880,075 737,426 142,649 0.0123 2.26 1981 64,168 2,064,329,722 785,000 737,426 47,574 0.0023 0.74 1982 65,748 2,334,301,042 740,000 737,126 2,574 0.0001 0.04 1983 66,605 2,791,166,189 690,000 690,000 - - - - - - 1984 68,752 2,998,742,560 1985 70,729 3,324,006,754 - - - - - - - - - - 1986 72,471 3,637,484,573 - - - - - - - - - - 1987 74,523 3,976,367,728 * Sourced Florida Estimates of Population 187, University of Florida Property Value Assessments are as of January 1st of each year. —103— MONROE COUNTY, FLORIDA COMPUTATION OF DIRECT AND OVERLAPPING DEBT SEPTEMBER 30, 1987 Percentage Applicable to This Overlapping Governmental Unit Net Debt Governmental Unit Net Debt Monroe County, Florida $ - _ - $ - - School Bonds 2,084,000 100 A 2,084 000 City of Key West 315,000 100 A 315,000 Total Direct and Overlapping Debt $ 2,399,000 Note: Monroe County does not have any outstanding general obligation debt. -104- MONROE COUNTY, FLORIDA COMPUTATION OF LEGAL DEBT MARGIN SEPTEMBER 30, 1987 The Constitution of the State of Florida, Florida Statute 200.181 and Monroe County set no legal debt limit® -1 0 5- MONROE COUNTY, FLORIDA RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL BONDED DEBT TO TOTAL GENERAL GOVERNMENT EXPENDITURES LAST TEN FISCAL YEARS Ratio of Debt Other Total General Service to Fiscal Debt Debt Government General Government Year Principal Interest Service Service* Expenditures Expenditures 1978 $ 51,000 $ 39,518 $ 250 $ 90,768 $ 13,339,225 0.68 1979 40,000 37,550 1,343 78,893 14,895,919 0.53 1980 40,000 34,925 - - 74,925 14,378,600 0.52 1981 45,000 33,325 - - 78,325 17,204,511 0.46 1982 55,000 241,098 - - 296,098 21,361,943 1.39 1983 55,000 394,649 6,912 456,561 25,621,306 1.78 1984 148,185 373,598 1,142 522,925 26,587,859 1.97 1985 1,135,000 251,110 20,107 1,406,217 32,189,541 4.37 1986 133,000 209,985 180 346,165 36,116,219 0.95 1987 564,440 211,783 250 776,463 43,373,112 0.54 * Debt service includes principal and interest on general obligation bonds, revenue bonds, bond anti- cipation notes, and other loan and notes payable. -106- MONROE COUNTY, FLORIDA MUNICIPAL SERVICE DISTRICT - WASTE SCHEDULE OF REVENUE BOND COVERAGE LAST TEN FISCAL YEARS Net Revenue Debt Service Requirements Fiscal Gross Available for. ----------------------.--_----------- Year Revenue* Exenses Debt Service Principal Interest Total Coverage 1970 2,253,721 1,508,821 744,900 _ _ - _ - - NIA 1979 2,586,679 1,563,505 1,023,174 - - _ - _ - N/A 1900 1,867,212 1,690,591 176,621 - - - - - - N/A 1991 3,950,895 2,069,990 1,900,905 _ 442,060 442,060 4.25 1982 4,476,788 3,055,799 1,420,999 40,000 884,120 924,120 1.54 1993 4,336,483 3,768,057 568,426 45,000 879,620 924,620 0.61 1984 5,794,937 4,603,748 1,191,189 50,000 874,558 924,558 1.29 1985 6,235,504 4,312,485 1,923,019 55,000 868,933 923,933 2.09 1986 6,405,177 5,400,183 1,087,994 430,000 531,702 961,702 .1.13 1987 7,956,812 5,136,726 2,820,006 280,000 615,468 895,468 3.15 "Expenses exclude depreciation of fixed assets and amortization of deferred charges which are reflected as expenses in the financial statements. * "Gross Revenue" shall mean all rates, fees, charges, assessments or other income received by the County or accrued to the County or any agency thereof in control of the management and operation of said Municipal Service District® Excluded from "Gross Revenue" is interest earned on funds held in escrow for the retirement of the refunded 1980 bonds. -107- MONROE COUNTY, FLORIDA SCHEDULE OF INSURANCE IN FORCE SEPTEMBER 30, 1987 Type of Policy and Type of Coverage Details of Covers Property Insurance General Liability A. Insures 38 locations totaling $21,386,024 in Bldgs. 3,551,690 Contents Basic Property Coverages: 1. Fire & Lighting 2. Windstorm-6 locations only- other locations separately insured on windstorm policy. a. Courthouse b. Courthouse Annex c. Administration Bldg. d. Marathon Sub-Courthouse e. Islamorada Library f. Governmental Center g. Contents-Key Largo Library 3. Explosion 4. Riot & Civil Commotion 5. Vehicles/Aircraft 6. Smoke & Sonic Boom 7. Vandalism & Malicious Mischief 8. Sprinkler Leakage NOTE. 90% co-insurance, replacement cost, $5,000 deductible per location per occurrence B. Data Processing Equipment-$589,677 Replacement cost value, $5,000 deduct- ible. SOFTWARE NOT COVERED. C. TV Translator System-$1,063,352-Actual Cash Value $100 deductible. D. Contractor's (Heavy) Equipment-$283,650- Actual Cash Value, 1% deductible not less than $300 E. Emergency Communication Equipment-$24,490 Antennae $69,000 Base Stations, $27,405 Telemetry Equipment F. Contents of Bookmobile-$14,000 G. Oshkosh Fire/Rescue Truck-Airport- $196,190 $100,000 person/$250,000 accident/$100,000 Property Damage -108- MONROE COUNTY, FLORIDA SCHEDULE OF INSURANCE IN FORCE SEPTEMBER 30, 1987 Type �f Polsoy and Tyke of Coverage Details of C2yfla_qe (CONTINUED) Property Insurance General Liability No deductible Excludes MSD, Airport, Sheriff, Fire Dist, Includes Additional Insureds-Constitutional Officers Absolute Pollution Exclusion. Comprehensive Crime Policy (BCC) Faithul Performance Blanket Bond Coverage $100,000 for BCC employees, $1,000 de- ductible. Covers loss to the BCC through the failure of any employee acting alone or in collusion with others. Windstorm (Key West Locations Only) Insurance selected Key West Buildings for loss due to Windstorm: Lighthouse Mu- seum, Curator's Quarters, County Courthouse, State Attorney's Office/Supervisor of Elections Office, Public Library, Airport Terminal, Johnson Bldg. (Island City Fly- ing Service), Butler Bldg. Attached to Kaiser Bldg., County Garage, TV Trans. Windstorm (Locations Outside of Key West) Insurance on selected buildings outside of Key West for loss due to windstorm: Stock Island Fire Dept., Public Service Bldg., Bayshore Manor, (3) AARP Bldgs., Big Pine Key Fire Dept., Sheriff's Sub-station Marathon, Generator Bldg., George Dolezal Library, "Old" and "New" Fire Depts. Marathon, Health Clinic, Marathon Airport Terminal, Marathon Animal Shelter, Public Works Office, County Garage, Storage Bldgs., Key Largo Animal Shelter. Public Official Liability Insurance on BCC employees and agents for "errors and ommissions", including misfeasance, malfeasance, and non-feasance. $500,000 in limits, $50,000 deductible. -109- MONROE COUNTY, FLORIDA SCHEDULE OF INSURANCE IN FORCE SEPTEMBER 30, 1987 Type of Policy and Type of Coverage Details of Coverage Airport Liability-KEY WEST AIRPORT $10,000,000 Combined Single Limit for Airport -MARATHON Operation includes coverage for Products /Completed Operations, Construction & Demolition, Contractual, Personal Injury NO LIQUOR LIABILITY. ABSOLUTE LIQUOR EXCLUSION. Flood Insurance Flood Insurance-Islamorada Library $200,000 on the Bldg., $162,800 on the contents $500 deductible. Flood Insurance-Key Largo Library $136,500 on the contents, Bldg. is leased. $500 deductible. Flood Insurance-Administration Building $200,000 on the Bldg., $183,800 on the contents $500 deductible. Flood Insurance-Marathon Sub-Cthse $200,000 on the Bldg., $71,400 on the contents. $500 deductible. Flood Insurance-Courthouse Annex-Key West $200,000 on the Bldg., $200,000 on the contents $500 deductible. Flood Insurance-Plantation Key Government Center $200,000 on the Bldg., $75,000 on the contents $500 deductible. Windstorm Policy Insures Volume Reduction Plant Bldgs., Scale Houses and Contents of Scale Houses, and Tanks for loss due to windstorm. Does not cover refractories or scales. $500 deductible. Contractor's Equipment Policy Covers risks of direct physical loss to contractor's equipment totaling $851,288 at the three locations. Includes loss from windstorm and flood. Deductible 1'M, $300 minimum, $1,000 maximum, 80% coinsurance. Actual Cash Value of equipment. -110- MOROE COUNTY, FLORIDA SCHEDULE OF INSURANCE IN FORCE SEPTEMBER 30, 1907 Ty e of Policy and Type of Coverage Details of Coverage (CONTINUE) Property Insurance General Liability Property Damage on three Volume Reduction Plant Blds. Refractories, Scale House Bldgs., Contents of Scale Houses, Water Tanks, Propane Tanks, Diesel Tanks, Scales, and Ash Removal Systems. Cudjoe Key - $1,947,200 Long Key - 2,892,800 Key Largo w 2,76 , 00 Contents PSB - 6.1,600 Coinsurance 90 , $5,000 deductible, Replacement Cost Value, Excludes Windstorm and Flood. ------------------------------------------------- General Liability limits $50 ,000 Combined Single Limit for Bodily Injury, Personal Injury, Property Damage. ABSOLUTE POLLUTION EXCLUSION!! Electronic Data Processing Equipment Policy Covers Replacement Cost Value of MSD°s Computer Equipment at the Volume Reduction Plants, and in the Public Service Bldg., totaling $133,715. All risk coverage, excludes windstorm and flood. No coverage for software. % coinsurance, $5,000 deductible. Comprehensive Crime Policy Faithful Performance Blanket Bond $100,000 for MSD employees. $1,000 deductible. Loss inside Collection Office, Wing II, Public Service Bldg., due to robbery-$10,000 limit. Higher loss limits for January, February, March to $250,000. Flood Insurance Flood Insurance-Volume Reduction Plant-Long Key $200,000 on the Bldg., $200,000 on the contents $500 deductible each. -I11- MONROE COUNTY, FLORIDA SCHEDULE OF INSURANCE IN FORCE SEPTEMBER 30, 1987 Type of Policy and Type of Coverage Details of Coverage (CONTINUE) Flood Insurance Flood Insurance-Volume Reduction Plant-Cudjoe Key $150,000 on the Bldg., $200,000 on the contents. $500 deductible. Flood Insurance Flood Insurance-Scale House-Cudjoe Key $40,000 on the Bldg., $10,000 on the contents $500 deductible. Flood Insurance Flood Insurance-Scale House-Key Largo $40,000 on the Bldg., $10,000 on the contents $500 deductible. Flood Insurance Flood Insurance-Scale House-Long Key $3,600 on the Bldg., $1,900 on the contents $500 deductible. Flood Insurance Flood Insurance-Volume Reduction Plant-Key Largo $150,000 on the Bldg., $300,000 on the contents $500 deductible. Business Auto Policy Emergency Services Insures 53 Emergency Service Vehicle (firetrucks, ambulances, including fire truck at Key West Airport and Civil Defense Director's Bronco). Comprehensive deductible $50.00. Collision deduc- tible $500.00. Limits of Liability $300,000. Combined Single Limit for bodily injury and/or property damage from one occurrence. Reimburses volunteer's deductible on their private vehicle up to $200,000 if damage results from accident on the way to fire station after receiving call to report. Provides volunteers with excess liability coverage, over their basic limits on private policies. General Liability Emergency Services Covers all County owned and District owned Fire Stations (13) for General Liability , $300,000. Combined Single Limit for bodily injury and property damage. Includes: Premises Operations, Volunteer Firemen, Independent Contractors, Products/completed Operations, Broad Form Comprehensive General Liability, including Host Liquor, Incidental Medical Malpractice (good Samaritan Endorsement Fellow Member Liability). -112- MONROE COUNTY, FLORIDA SCHEDULE OF INSURANCE IN FORCE SEPTEMBER 30, 1987 Type of Policy and Type of Coverage Details of Coverage (CONTINUE) Specific Excess Health Fund Excess coverage for any Group Health claim that Conversion Policy exceeds'$25,000. Sun Life will then pay up to a maximum of $1,000,000. Conversion policy allows employees to continue health/life insurance after termination of employment with the County or at the end of COBRA coverage. Coverage is then carried with Sun Life of Canada® Life Insurance Insurance full time employees and retirees under Accidental Death & Dismemberment the age of 70 for $10,000 in life benefits; Insurance $5,000 over the age of 70. Accidental Death & Dismemberment insures and added $10,000 benefit if death was accidental or there was loss of sight or limb. AD&D cancels at age 70 or upon retirement. Aggregate Excess Health Insurance Excess coverage to prevent group health fund from being depleted in one plan year. Begins paying at 120% of expected claim cost or $1,350,000 whichever is greater. Pays to $1,000,000. Excess Coverage for any one workers compensation Employer's Liability claim over $200,000. This policy will then pay to $5,000,000 protects self-funded workers compensation from being depleted in one year from claim. Employer's Liability coverage per claim limit $500,000 Deductible/SIR (Self Insured Retention) $200,000 per occurrence $200,000 US Longshoremen & Harbor Workers Act. $200,000 Jones Act Claims under b. & c. above would have to occur during maritime operations on the ocean. Sheriff's Dept. uses boats and skin divers and the County uses a small boat. -113-, MONROE COUNTY, FLORIDA SCHEDULE OF INSURANCE IN FORCE SEPTEMBER 30, 1987 Type of Policy and Type of Coverage Details of Covers e (CONTINUE) Aggregate Excess Worker's Compensation Excess coverage for 2 or more unrelated Workers' Employer's Liability Compensation claims, with the fund minimum expenditure $511,100 in two year period, or 80% of loss fund. Limit to $1,000,000. Business Auto Policy Insures 172 County owned/leased vehicles for $100,000/$300,000 bodily injury, $100,000 property damage caused by vehicle accidents. Comp/Collision only on leased vehicles or over $20,000 purchase price. Provides excess liability coverage for County employees who use their own cars on County business. -114- -� MOWROE COUNTY, FLORIDA SCHEDULE OF INSURANCE COMPANY SEPTEM0ER 30, 1987 Insurance Company Policy9erbod Aetna Fire Undarwirtnre Insurance Co. 01/10/87-88 --` Cigna/Ina 03/15/87-08 04/81/87-88 - ` Employees Reinsurance Corporation I0/01/06-07 Fla. Windstorm Underwriting Assoc. 06/24/87-80 07/30/87-80 Insurance Company of North America 01/I0/07-80 04/01/87-08 07/26/07-88 07/27/87-88 International Surplus Lines Ins. Co. 04/I9/87-80 - Lloyds of London 10/01/86-87 National Flood Ins. Pro. 07/05/87-88 ' 07/13/87-88 00/01/87-88 Sun Life of Canada 10/0I/86-09/30/07 - ` ` -Il�- ` MONROE COUNTY, FLORIDA SCHEDULE OF INSURANCE AGENCY SEPTEMBER 30, 1987 Expiration Annual Agency Date Premium Arthur J. Gallagher 04/19/88 $26,568.00 09/30/87 160,000.00 10/01/87 66,116.00 Burke, Bogart & Brownell, Inc. 01/10/88 76,354.00 Key West Insurance 06/24/88 2,347.00 Porter Allen Insurance 03/15/88 383,058.00 04/01/88 51,752.00 07/05/88 3,609.00 07/06/88 1,285.00 07/13/88 498.00 07/26/88 2,498.00 07/27/88 11,795.00 07/30/88 113,138.00 08/01/88 7,091.00 -7116- MONROE COUNTY, FLORIDA SALARIES AND SURETY BONDS OF PRINCIPAL OFFICIALS SEPTEMBER 30, 1987 Annual Amount of Name and Title of Official Salary Surety Bond Eugene R. Lytton, Sr. - Chairman, Board of County Commissioners $19,934 $ 2,000 Michael Puts - Vice-Chairman, Board of County Commissioners 19,934 2,000 Jerry Hernandez, Jr. - Memberp Board of County Commissioners 19,934 2,000 William "Billy" Freeman - Member, Board of County Commissioners 19,934 2,000 John Stormont - Member, Board of County Commissioners 19,934 2,000 Danny L. Kolhage - Clerk of Circuit Court and Chief Financial Officer 45,935 25,000 William A. Freeman, Jr. - Sheriff 50,022 15,000 Peter Ilchuck - Supervisor of Elections 37,696 5,000 Ervin Higgs - Property Appraiser 45,935 28,000 Harry F. Knight - Tax Collector 45,935 50,000 Tom Brown - County Administrator 47,500 100,000 MONRO[ COUNTY, FLORIDA DEMOGRAPHIC STATISTICS LAST TEN YEARS Per Capita Median School Unemployment Year Population (1) Income (2) Aqt (3) Enrollment (4) Rate (5) 1978 55,793 6,315 27.3 0080 7.8 1979 56,509 7,044 27.3 8067 6.3 1980 83"180 0,184 36.0 7611 5.5 1981 64°168 9,I50 36.0 7637 7.4 1982 65,748 9°795 36.3 7492 7.9 1903 86,605 10,409 38.6 7348 6.9 1984 68'752 11,300 36.7 7231 4.1 1985 70,729 NA 36.9 6913 3.5 1986 72,471 N4 37,3 7138 3.0 1987 74,523 NA N/A 7515 2.8 NA - Data Not Currently Available Sources: l. Florida Estimates of Population `87, University or Florida 2. 1987 Florida Statistical Abstract, University of Florida J. Department of Commerce, Bureau of Economic Ronnerch, 4. Monroe County School Board 5. Florida Department of Labor and Employment Security -118- MONROE COUNTY, FLORIDA MISCELLANEOUS STATISTICAL DATA SEPTEMBER 30, 1987 Date originally established EDUCATION: constitutionally July 3, 1823 Date of present constitution Number of schools establishment May 13, 1887 High Schools 3 Form of government Constitutional County Middle Schools 4 Present area 1034 square miles Elementary Schools 10 Vocational Techincal a POPULATION: Special Ed Schools 1 Number of administrators 29 Date Residents Increase'o Number of teachers 496 1978 55,793 1979 56,509 1.28 CONSTRUCTION PERMITS: 1980 63,188 11.82 199I 64,168 1.55 Permits issued 4,619 1982 65,748 2.46 Estimated construction cost 78,716,940 1983 66,605 1.30 1984 68,752 3.22 1985 70,729 2.88 AMBULANCE SERVICE: 1986 72,471 2.46 1987 74,523 2.83 Number of vehicles 14 Number of employees 35 EMPLOYEES: 932 POLICE PROTECTION- Number of stations 3 ELECTIONS: Numbers of employees Certified law enforcement 216 November 4, 1986, General Election: Administrative & clerical 89 Number of Registered Voters 36,822 Number of Voters 20,060 FIRE PROTECTION: Percentage of Voter Turnout 54.48% September 2, 1986, Primary Election: Number of stations 12 Number of Registered Voters 36,270 Number of employees No paid employees Number of Voters 12,191 Number of volunteers 375 Percentage of Voter Turnout 33.61% MONROE COUNTY, FLORIDA TEN LARGEST TAXPAYERS 1987 Fiscal Percentage Assessed Year Taxes of Total Taxpayer Value Collected Collected 1. Casa Marina $ 29,462,024 639,264 1.190m, 2. The Reach 15,255,374 331,009 0.62% 3. Pier House 15,251,258 330,920 0.62% 4. Hawks Cay 14,984,580 2-13,588 0.40% 5. Sheraton Key Largo 14,314,134 207,893 0.391wo 6. Southernmost Affiliates 7,927,239 172,003 0.32% 7. Holiday Isle & Assoc 10,476,307 167,254 0.310% B. Ocean Reef Club, Inc. 11,509,790 153,402 0.290% 9. Holiday Inn K.W. 6,840,000 148,414 0.28% 10. Plantation Yacht Harbor 8,270,444 119,781 0.22% $134,291,150 $ 2,483,528 0.46% ------------ ----------- ------ ------------ ----------- ------ Source: Tax Collector of Monroe County -120- MONROE COUNTY, FLORIDA PROPERTY VALUE, CONSTRUCTION AND BANK DEPOSITS LAST TEN FISCAL YEARS Fiscal Property * Bank Year Value Construction ( 1 & 2 ) Deposits ( ** ) 1978 $ 767,128,046 $ 31,945,334 $ 159,782,000 1979 815,243,532 16,540,140 177,418,000 1980 1,078,126,089 31,256,681 210,544,000 1981 1,509,997,982 46,760,998 223,446,000 1982 1,713,643,602 49,283,013 236,997,000 1983 2,079,413,342 63,730,906 287,256,000 1984 2,230,308,056 47,455,279 328,300,000 1985 2,410,892,344 64,743,341 390,889,000 1986 2,617,260,573 73,832,930 465,596,000 1987 2,830,297,181 74,847,145 570,342,000 Source: * Office of the Property Appraiser ** Florida Banker's Association Notes: 1. Property value and construction does not include the municipal areas of the County. 2. Construction amounts include new construction minus deletions from the Tax Roll. -121- KEMP & ROSASCO Certified Public Accountants 1438 KENNEDY DR, #12 LUANI PLAZA * P. O. BOX 1529 KEY WEST, FL 33041-1529 WM. O. KEMP, C.P.A. (305) 294-2581 MEMBER OF AMERICAN INSTITUTE PETER L. ROSASCO, Jr., C.P.A. AND FLORIDA INSTITUTE OF MARVA E. GREEN, C.P.A. CERTIFIED PUBLIC ACCOUNTANTS Board of County Commissioners Monroe County, Florida We have examined the general purpose financial statements of Monroe County, Florida, as of September 30, 1987, and for the year ended, and have issued our report thereon dated March 3, 1.988. Our examination of such general purpose financial statements was made in accordance with generally accepted auditing standards and the standards for financial and compliance audits contained in the Standards for Audit of Governmental Or aniZations, Pro rains, Activities, and Functions, issued by the U.S. General Accounting Office and accordingly, included such tests of the accounting records and such other auditing proce- dures as we considered necessary in the circumstances. Our examination was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole® The accompanying Schedule of Federal Financial Assistance and Schedule of State Financial Assistance are presented for purposes of additional analysis and are not a required part of the general purpose financial statements. The information in those schedules has been subjected to the auditing procedures applied in the examination of the general purpose financial statements and, in our opinion, is fairly stated in all material respects in relation to the general purpose financial state- ments taken as a whale® Kemp & Rosasco Certified Public Accountants March 3, 1988 —122— KEMP F_� ROSASCO Certified Public Accountants 1438 KENNEDY DR. #12 LUANI PLAZA e P. O. BOX 1529 KEY WEST, FL 33041-1529 WM. O. KEMP, C.P.A. (305) 294-2581 MEMBER OF AMERICAN INSTITUTE PETER L. ROSASCO, Jr., C.P.A. AND FLORIDA INSTITUTE OF MARVA E. GREEN, C.P.A. CERTIFIED PUBLIC ACCOUNTANTS Board of County Corp missioners Monroe County, Florida We have examined the general purpose financial statements of Monroe County, Florida, as of September 30, 1987, and for the year then ended, and have issued our report thereon dated March 3, 1988. Our examination was made in accordance with generally accepted auditing standards; the standards for financial and compliance audits contained in the Standards for Audit of Governmental Organizations, Programs, Activities, and Functions, issued by the U .S. General Accounting Office; the Single Audit Act of 1984; and the provisions of OMB Circular A-128, Audits of State and Local Governments and, accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. The management of Monroe County, Florida is responsible for the County's compliance with laws and regulations. In connection with the examination referred to above, we selected and tested transactions and records from non- major federal financial assistance programs, and certain state financial assistance programs. The purpose of our testing of transactions and records from those federal and state financial assistance programs was to obtain reasonable assurance that Monroe County, Florida, had, in all material respects, executed the tested state and non major federal program transactions, in compliance with laws and regulations, including those pertaining to finan- cial reports and claims for advances and reimbursements, noncompliance with which we believe could have a material effect on the allowability of program expenditures. The results of our testing of transactions and records selected from state and non major federal financial assistance programs indicated that for the transactions and records tested, Monroe County, Florida, complied with the laws and regulations referred to in the second paragraph of our report. Our testing was more limited than would be necessary to express an opinion on whether Monroe County, Florida, administered those programs in compliance in all material respects with those laws and regulations noncompliance with which we believe could have a material effect on the allowability of program expen- ditures; however, with respect to the transactions and records that were not tested by us, nothing came to our attention to indicate that Monroe County. Florida, had not complied with those laws and regulations referred to above® Kemp & Rosasco Certified Public Accountants March 3, 1988 -123- KEEP & ROSASCO Certified Public Accountants 1438 KENNEDY DR. #12 LUANI PLAZA e P. O BOX 1529 KEY WEST, FL 33041-1529 M. 0. KEMP, C.P.A. (305) 294-2581 MEMBER OF AMERICAN INSTITUTE PETER L. RCSASCO, Jr., C.P.A. AND FLORIDA INSTITUTE OF MARVA E. GREEN, C.P.A. CERTIFIED PUBLIC ACCOUNTANTS Board of County Commissioners Monroe County, Florida We have examined the general purpose financial statements of Monroe County,, Florida, as of September 30, 1987, and for the year then ended, and have issued our report thereon dated March 3, 1988. As part of our examination, we made a study and evaluation of the internal control systems, including appli- cable -internal administrative controls, used in administering federal and state financial assistance programs to the extent we considered necessary to evaluate the systems as required by generally accepted auditing standards, the standards for financial and compliance audits contained in the Standards for Audit of Governmental Organizations, Programs, Activities, and Functions, issued by the—U .S. General—Accounting Office, the Single Audit Act of 1984, and the provisions of OMB Circular A-128, Audits of State and Local G overn m ents. For the purpose of this report,—we have classified the signifi- cant internal accounting and administrative controls used in administering financial assistance programs in the following categories: Accounting Cycles - Revenues/receipts - Expenditures/disbursements ,Controls Used in Administering Federal Programs General Requirements: - Political activity - Davis-Bacon Act - Civil Rights - Federal financial reports - Cash management Specific Requirements: - Types of services (costs) - Eligibility - Matching level of effort - Reporting - Special requirements, if any -124- The management of Monroe County, Florida is responsible for establishing and maintaining internal control systems used in administering federal and state financial assistance programs. In fulfilling that responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of control procedures. The objectives of internal control systems used in administering federal and state financial assistance programs are to provide management with reasonable, but not absolute, assurance that, with respect to -federal and state financial assistance programs, resource use is consistent with laws, regulations, and policies; resources are safeguarded against waste, loss, and misuse; and reliable data are obtained, maintained, and fairly disclosed in reports. Because of inherent limitations in any system of internal accounting and administrative controls used in administering federal and state financial assistance programs, errors or irregularities may nevertheless occur and not be detected® Also, projection of any evaluation of the systems to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the degree of compliance with the procedures m ay deteriorate. Our study included all the applicable control categories listed above. During the year ended September 30, 1987, Monroe County, Florida had no major federal financial assistance programs and expended 52% of its total federal financial assistance under the following nonmajor federal financial assistance programs: Senior Community Service Project, Special Programs for the Aging Nutrition, and Clerk Information Systems. With respect to internal control systems used in administering these nonmajor federal financial assistance programs, our study and evaluation included considering the types of errors and irregularities that could occur, determining the internal control proce- dures that should prevent or detect such errors and irregularities, deter- mining whether the necessary procedures are prescribed and are being followed satisfactorily, and evaluating any weaknesses® With respect to the internal control systems used solely in administering the other nonmajor federal financial assistance programs of Monroe County, Florida, our study and evaluation was limited to a preliminary review of the systems to obtain an understanding of the control environment and the flow of transactions through the accounting system . Our study and evaluation of the internal control systems used solely in administering these nonmajor federal financial assistance programs of Monroe County Florida, did not extend beyond this preliminary review phase® Our study and evaluation was more limited than would be necessary to express an opinion on the internal control systems used in administering the federal financial assistance programs of Monroe County, Florida. Accordingly, we do not expess an opinion on the internal control systems used in administering the federal financial assistance programs of Monroe County, Florida. Also our examination, made in accordance with the standards mentioned above, would not necessarily disclose material weaknesses in the internal control systems, for which our study and evaluation was limited to a preliminary review of the systems, as discussed in the fifth paragraph of this report. -125® This report is intended solely for the use of management of Monroe County, Florida and the cognizant audit agency and should not be used for any other purpose. This restriction is not intended to limit the distribution of this report, which, upon acceptance by Monroe County, Florida, is a matter of public record. Kemp & Rosasco Certified Public Accountants March 3, 1988 MONROE COUNTY, FLORIDA SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE SEPTEMBER 30 , 1987 Federal Grantor/Pass-Through Grantor Program Title Federal CFDA Number Grant I D Number Department of Agriculture ----------------------------------- Passed through State Department of Health and Rehabilitative Services: Food Distribution 18 .568 LD-865 Total Department Department of Health and Human Services --------------------------------------- Passed through State Department of Health and Rehabilitative Services and Dade & Monroe Counties Area Agency on Aging: Homemaker Chore 1986 13"633 86-1-878 Transportion for Elderly 1986 13.633 86-1-887 Transportton for Elderly 1987 13.633 87-1-887 Nutrition C-I 1986 13.635 86-2~878 Nutrition C-I 1987 13.635 87-2-878 Nutrition C-%I 1986 13.635 86-3-878 Nutrition C-II 1987 13.635 87-3-878 Passed through State Department of Community Affairs: Community Services Block Grant/Hospice 13.793 87SB-98-11-54-01-068 Total Department Department of Justice ----------------------------------------- Passed through State Department of Community Affairs: Clerk Information Systems ` 16°574 87-CJ-70-11-54-01-301 Total Department -127- -~ MOWROE COUNTY, FLORIDA SCHEDULE D� FEDERAL FINANCIAL ASSISTANCE ~- SEPTBHBER 80 , 1987 Matching Contributions And _- Balances Cash Miscellaneous Balances September 30, 1986 Receipts Revenues Expenditures Refunds September 30, 1987 - � -- $ 845 $ -- $ 3,552 $ 2,707 ------------------ ---------- ----------------- ------------ --------- ------------------ -' -- B45 -- 3~552 -- 2,787 __________________ __________ _________________ ____________ _________ __________________ - (18,684) -- 4,825 22,298 1 ,219 -- 2,900 19r500 8,204 24,804 -- -- - -- 1O5,33O 30 ,115 142,067 -- 6`622 4,889 45`684 25,570 66,385 68 -- -- 106,202 71 ,932 168,543 -- (9,591 ) 4`843 16,118 5`543 16,818 -- -- -- 37,147 15`663 53`880 1 ,870 -- -- -- -- 3,357 -- 35357 ------------------ ---------- ----------------- ------------ --------- ------------------ (6,052) 329,981 161 ,852 498,064 1 ,279 1 ,458 __________________ ---------- ----------------- ------------ _________ ______-___________ ~ 200O0 100,809 105/917 211 ,409 -- 24,683 __________________ __________ _________________ ____________ _________ __________________ -` 20 ,00O 100 /809 105,917 211 ,489 -- 24,683 ------------------ ---------- ----------------- ------------ --------- ------- -- Tbe notes to the financial statements are an integral part of these statements. - ` -I28- _� MONROE COUNTY, FLORIDA SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE, CONTINUED SEPTBMBER 30 , 1987 Federal Grantor/Pass-Through Grantor Program Title Federal CFDA Number Grant I D Number Department of Labor --------------------------------------- Passed through National Council on the Aging, Inc . : Senior Community Service Project 1987 17.235 99-6-8483-11-056-02-12 Senior Community Service Project 1988 17.235 99-7-0483-11-206-02-12 Passed through South Florida Employment and Training Consortium: Job Training Partnership Act 1986 17.246 2-PY'85-6-88 ' Job Training Partnership Act 1987 17.246 2-PY'86-6-00 Job Training Partnership Act 1988 17.246 2-PY'87-6-00 Total Department Department of Transportation --------------------------------------- Direct Program: Marathon AIP-05 20 .101 AIP# 3-12-044-05 Marathon AIP-04 20 . 101 AIP# 3-12-044-05 Key West AIP-02 20 .101 AIP# 3-12-044-05 Passed through State Department of Community Affairs: Bicycle/Pedestrian Traffic Law Enforcement 20 .600 86-10-314-03 Total Department Federal Emergency Management Agency --------------------------------------- Passed through State Department of Community Affairs: Civil Defense Emergency Management 83.503 87-B1-76-11-54-10-037 Radiological Emergency Preparedness 83.505 87-EM-93-11-54-10-002 Total Department -129- MONROE COUNTY, FLORIDA SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE SEPTEMBER 30, 1987 Matching Contributions And Balances Cash Miscellaneous Balances September 30, 1986 Receipts Revenues Expenditures Refunds September 30, 1987 39,596 173,131 16,477 150,012 -- -- -- -- 3,152 44,199 -- 41 ,047 3,625 3,625 9,866 47,346 -- 42,093 -- 4,613 ®- -- -- 12,296 -- 12,296 ------------------ ---------- ----------------- ------------ --------- ------------------ 53087 224,102 19,629 248,600 `- 57,956 ------------------ ---------- ----------------- ------------ --------- -----_------------ 1 ,008,651 958079 644 6,437 -` 56,365 28,862 28,862 849 8,492 -- 7,644 48,737 42,861 1 ,458 14,58.E -- 19,001 14,131 21 ,813 -- 7,682 -- -- ------------------ ---------- ----------------- ------------ --------- ------------------ 1 ,100 ,381 1 ,051 ,615 2,951 37,194 -- 83,010 ------------------ ---------- ----------------- ------------ --------- ------------------ -- 20, 105 20 ,105 40,210 -- -- _- 101 ,726 -- 85,088 -- (16,638) ------------------ ---------- ----------------- ------------ --------- ------------------ -- 1'21 ,831 20 , 105 125,298 -- (16,638) ------------------ ---------- ----------------- ------------ --------- ------------------ (Continued) The notes to the financial statements are an integral part of these statements. -130- MONROE COUNTY, FLORIDA SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE, CONTINUED SEPTEMBER 30, 1987 Federal Grantor/Pass-Through Grantor Program Title Federal CFDA Number Grant I D Number Department of Education --------------------------------------- Passed through State Department of State: Library/Economically Disadvantaged 84.034 DLS-85-I-3-K Library/Literacy 84.034 85-I-12-F Library/FLIN 84.034 DLS-86-III-I-13 Total Department Department of Treasury --------------------------------------- Direct Program: Federal Revenue Sharing: Entitlement #17 21 .300 10-1-044-044 Total Department Total Federal Financial Assistance -131- MONROE COUNTY, FLORID SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE SEPTEMBER 30, 1987 Matching Contributions And Balances Cash Miscellaneous Balances September 30, 1986 Receipts Revenues Expenditures Refunds September 30, 1987 (4,827) -- -_ __ 4,827 -_ (568) -- _- -- 568 _- __ 680 _- 600 -_ __________________ __________ _________________ ____________ _________ __________________ `:5,395) 600 -- 600 5,395 __________________ __________ ------------------ ____________ --------- _.-----____-___--_- (306,088) 12,849 16,116 149,629 -® ( 185,424) ------------------- ---------- ------------------ ------------ --------- ------------------ ,306,088) 12,849 16, 116 149,629 _- , 185,424) --------------------- __________ _________________ ____________ _________ ______--_-___--___- 855,9 33 $1 $842,632 ° 326 P 570 . 1 ,274,346 6,674 (32,249) The notes to the financial statements are an integral part of these statements. -132- MONROE COUNTY, FLORIDA SCHEDULE OF STATE FINANCIAL ASSISTANCE SEPTEMBER 30 , 1987 State Grantor./Pass-Through Grantor Program Title Grant I D Number Florida Department of Health and Rehabilitative Services -------------------------------------------------- Direct Program: Community Care for Disabled Adults 1987 KG-613 Community Care for Disabled Adults 1988 KG-707 Community Care for Disabled Adults, Meals 1987 KG-624 Community Care for Disabled Adults, Meals 1988 KG-706 Emergency Medical Service Trust LC-855 Pass through Dade & Monroe Counties Area Agency on Aging: Community Care for• Elderly 1987 87-5-878 Community Care for Elderly 1988 88-55-878 Total Department Florida Department of Law Enforcement -------------------------------------------------- Direct Program: Medical Examiner 1987 None Total Department Florida Department of Community Affairs -------------------------------------------------- Direct Program: Domestic Abuse Shelter - Community Services Trust 87ST-96-11-54-01-071 Solid Waste Study 87SR-40-11-54-01-016 Local Government Comprehensive Planning Assistance Program 86LP-01-11-54-01-O67 Land Use Plan Implementation 87SR-40-11-54-01-003 Total Department -133- �. � MONROE COUNTY, FLORIDA SCHEDULE OF STATE FINANCIAL ASSISTANCE �- SEPTBM ER 30 , 1987 Matching Contributions And _- Balances Cash Miscellaneous Balances September 30 , 1986 Receipts Revenues Expenditures Refunds September 30, 1987 ---------- - $ 6,929 30,428 4,395 35`569 7`675 -- 14,362 1 ,554 14,881 -- (1 ,035) -- 1 ,889 492 4,920 -- 2,619 _� -- -- 172 1 ,717 -- 1 /545 -- 25,878 -- 20 ,856 -- (5,822) - 15`995 322,091 35,672 341 ,298 470 -- 91 ,325 20 `060 132,098 -- 20 `713 ------------------ ---------- ----------------- ------------ --------- _--_______-_-_____ -- 22,924 485,893 62`345 550 ,539 470 25,695 ------------------ ---------- ----------------- ------------ --------- ___-__-____-______ - -- 1U,O36 -- 10,036 -------------------- ----------__________ _________________ ____________ _________ __________________ - -- 1O,O36 -- 10 `036 -------------------- ----------__________ _________________ ____________ _________ __________________ -` -- 6`177 -- 6,177 -- -- -- 149,750 -- 286`865 -- 137` 115 -- 31 ,471 -- 17,400 -- ( 14,071 ) -- 625,000 -- 365,553 -- (259`447) ------------------ __________ _________________ ____________ _________ __________________ -- 812,398 -- 675,995 -- ( 136/403) __________________ __________ _________________ ____________ _________ ------------------ (Continued) -` The notes to the financial statements are an integral part of these statements. -` - ` -l34- _` MONROE COUNTY, FLORIDA SCHEDULE OF STATE FINANCIAL ASSISTANCE, CONTINUED SEPTBM8ER 30 , 1987 State Grantor/Pass-Through Grantor Program Title Grant l 0 Number Florida State Department of State -------------------------------------------------- Direct Program: State Aid to Libraries None Total Department Florida Department of Environmental Regulation -------------------------------------------------- Direct Program: Nearshore Water Effluent/ Water Quality Monitoring CM-178 Total Department Total State Financial Assistance -135- MONROE COUNTY, FLORIDA SCHEDULE OF STATE FINANCIAL ASSISTANCE ~- SEPTEM�BER 38, 1987 � ~_ Matching Contributions And -- Balances Cash Miscellaneous Balances September 30 / 1986 Receipts Revenues Expenditures Refunds September 30 , 1987 -- 58,441 -- 58,441 -- -- _ __________________ __________ _________________ ____________ _________ __________________ -- 58,441 -- 58,441 -------------------- ----------__________ _________________ ____________ _________ __________________ -- -- 31 `531 -- 39,999 -- 8/468 ------------------ ---------- ----------------- ------------ --------- ------------------ -- 31 ,531 -- 39,999 -- 8,468 ------------------ ---------- ----------------- ------------ --------- ---_--_-_--_-_____ -- $ 22,924 $1 ,398,299 $ 62,345 $ 1 ,335,010 $ 470 $ ( 102,240) ================== ========== ========= ================== The notes to the financial statements are an integral part of these statements. -` - ` - ` -` -I36- ^ ' MONROE COUNTY, FLORIDA NOTES TO SCHEDULES OF FEDERAL AND STATE FINANCIAL ASSISTANCE SEPTEMBER 30, 1987 1. Summary of Significant Accounting Policies: The accounting policies and the presentation of the Single Audit report of Monroe County, Florida have been designed to conform to generally accepted accounting principles as applicable to governmental units, including the reporting and compliance requirements of the Single Audit Act of 1984 and Office of Management and Budget Circular A-128, Audits of State and Local Governments (A-128). A. Reporting Entity - The Single Audit Act of 1984 and A-128 set forth the audit and reporting requirements for federal financial assistance. The County has included schedules of both federal and state financial assistance in the Single Audit section. Financial assistance received directly from the State of Florida is included to satisfy the audit requirements of the State of Florida grantor agencies. B. Basis of Accounting - Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measure- ment focus applied. The modified accrual basis of accounting is followed in the Schedules of Federal and State Financial Assistance. Under the modified accrual basis of accounting, revenues are recognized in the accounting- period in which they become both measurable and available to finance expenditures of the current period. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Expenditures are recorded when the related liability is incurred. In applying the susceptible-to-accrual concept to intergovernmental revenues, the legal and contractual requirements of the numProu,, individual_, nrnnramS are used as nui dance.; There are, however, essentially two types of these revenues. In one, monies must be expended on the specific purpose or project before any amounts will be paid to the County; therefore, revenues are recognized based upon the expenditures recorded. In the other, monies are irrevocable; i .e. , revocable only for failure to comply with prescribed compliance requirements, such as with equal employment opportunity. These resources are reflected as revenues at the time of receipt or earlier if they meet the availability criteria. -137- MONROE COUNTY, FLORIDA NOTES TO SCHEDULES OF FEDERAL AND STATE FINANCIAL ASSISTANCE SEPTEMBER 30, 1987 2. Contingencies: Grant monies received and disbursed by the County are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon prior experience, the County does not believe that such disallowances, if any, would have a material effect on the financial position of the County. As of March 3, 1988 there were no material questioned or disallowed costs as a result of grant audits in process or completed. —138—